News and Updates Issue 38 Duration May 16-31, 2020

“The life of the law has not been logic; it has been experience.”

OLIVER WENDELL HOLMES

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/243  dated May 23 2020 in relation to Large Exposures Framework – Increase in Exposure to a Group of Connected Counterparties ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/245 dated May 23 2020 in relation to COVID19 Regulatory Package – Review of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets ReadMore

LABOUR LAW

  • The Ministry of Labour and Employment under its National Career Service (NCS) project has now started offering free online “Career Skills Training” in partnership with TCS ION for its registered job-seekers. This course on soft skills assists the learners in enhancing personality development with modules on corporate etiquette, improving inter personal skills, making impactful presentation including other necessary soft skills demanded by the industry today. The training module is available in Hindi and English on the NCS portal [May 29, 2020] ReadMore

COMPETITION LAW

  • Competition Commission of India (CCI) approves acquisition of 100% of the total issued and paid up share capital of Emami Cement Limited, on a fully diluted basis, by Nuvoco Vistas Corporation Limited [May 21, 2020] ReadMore
  • Federal Trade Commission (FTC) seeks Public Comment as part of its Review of the Prohibition of Energy Market Manipulation Rule [May 18, 2020] ReadMore

ENERGY

  • Suzlon Energy shareholders approve debt restructuring plan [May 21, 2020] ReadMore
  • Ministry of New and Renewable Energy (MNRE) may now hold auctions only for RTC and hybrid projects [May 22, 2020] ReadMore

NEWS

  • The Securities and Exchange Board of India (SEBI) seeks alerts on changes in ‘beneficial ownership’ of FPIs with China links [May 18, 2020] ReadMore
  • Supreme Court (SC) seeks Centre's reply on plea for ban on Zoom app until appropriate legislation is put in place [May 22, 2020] ReadMore
  • Government allows certain categories of OCI cardholders to visit India [May 22, 2020] ReadMore
  • Government looks at dedicated National Company Law Tribunal (NCLT) benches for insolvency, Companies Act-related matters [may 23, 2020] ReadMore
  • Medium company turnover limit may be doubled for Micro, Small and Medium Enterprises (MSME) benefits [May 26, 2020] ReadMore
  • Supreme Court (SC) to hear on June 2 plea seeking replacement of word India with 'Bharat' [May 29, 2020] ReadMore

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