News and Updates Issue 32 Duration February 16-29, 2020

It cannot be helped, it is as it should be, that the law is behind the times.

OLIVER WENDELL HOLMES, JR., SUPREME COURT JUSTICE

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/167 dated February 26, 2020 in relation to External Benchmark Based Lending – Medium Enterprises. It has been decided that all new floating rate loans to the Medium Enterprises extended by banks from April 01, 2020 shall be linked to the external benchmarks as indicated in the said circular ReadMore

COMPETITION LAW

  • Competition Commission of India (CCI) received green channel combination from Aéroports de Paris SA for acquisition of 49% stake in GMR Airports Ltd. and 100% stake in GMR Infra Services Ltd [February 21, 2020] ReadMore
  • Competition Commission of India (CCI) approves the acquisition of 74.50% of the issued and paid-up share capital of THDC India Limited (‘THDC’/ ‘Target’) by NTPC Limited (‘NTPC’/ ‘Acquirer’) from Government of India (‘GoI’), under Section 31(1) of the Competition Act, 2002 [February 24, 2020] ReadMore
  • Competition Commission of India (CCI) approves the acquisition of 100% of the issued and paid-up share capital of North Eastern Electric Power Corporation (‘NEEPCO’/ ‘Target’) by NTPC Limited (‘NTPC’/ ‘Acquirer’) from Government of India (‘GoI’), under Section 31(1) of the Competition Act, 2002 [February 24, 2020] ReadMore
  • Rent-to-Own operators, namely Aaron’s Inc., Buddy’s Newco, LLC, and Rent-A-Center, Inc. have agreed to settle FTC charges that they negotiated and executed reciprocal purchase agreements in violation of federal antitrust law. [February 21, 2020] ReadMore
  • Federal Trade Commission (FTC) releases 2019 Privacy and Data Security Update [February 25, 2020] ReadMore

ENERGY

  • Government may ease commercial coal auction rules [February 19, 2020] ReadMore
  • Securities Appellate Tribunal allows lenders to sell Reliance General Insurance [February 28, 2020] ReadMore

NEWS

  • Google bids adieu to GStation, states cheaper mobile data as the reason; thanks GoI for support [February 17, 2020] ReadMore
  • Bharti Infratel awaits Supreme Court (SC) verdict on AGR for merger with Indus Towers [February 26, 2020] ReadMore
  • The Securities and Exchange Board of India (SEBI) has reportedly urged the mutual fund industry to build an adequate 'liquidity buffer' for debt schemes. The capital markets regulator has also reportedly asked the mutual funds to participate more in the voting process of company resolutions rather than abstain from it [February 27, 2020] ReadMore
  • National Company Law Appellate Tribunal (NCLAT) dismisses Flipkart insolvency proceedings [February 28, 2020] ReadMore

Disclaimer “This information has been gathered from various sources. Nothing herein is or may be construed as legal advice”.