News and Updates Issue 40 Duration June 16-30, 2020

“Consider the reason of the case, for nothing is law that is not reason.”

SIR JOHN POWELL

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/256  dated June 22, 2020 in relation to increasing instances of Payment Frauds – enhancing public awareness campaigns through multiple channels ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/258  dated June 24, 2020 in relation to loans sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to fair practices code and outsourcing guidelines ReadMore

LABOUR LAW

  • The State Governments, in response to the advisory dated 24th March, 2020 issued by the Ministry of Labour & Employment, have reportedly disbursed Rs 4957 crore cash assistance till date to approximately two crore registered construction workers across the country during the lockdown. Reportedly, about 1.75 crore transactions were done directly into the bank accounts of the workers through Direct Benefit Transfer (DBT). [June 23, 2020] ReadMore

COMPETITION LAW

  • Competition Commission of India (CCI) approves the acquisition of Metso Oyj’s (Metso) minerals business by Outotec Oyj (Outotec) under Section 31(1) of the Competition Act, 2002 [June 18, 2020] ReadMore
  • Competition Commission of India (CCI) approves acquisition of 9.99% stake in Jio Platforms by Jaadhu Holdings LLC [June 24, 2020] ReadMore
  • Federal Trade Commission (FTC) approves final order settling charges that VieVu’s former Parent Company, Safariland, entered into Anticompetitive Agreements with Body-Worn Camera Systems Seller Axon [June 16, 2020] ReadMore
  • Federal Trade Commission (FTC) sends Letters warning marketers to Stop Making Unsupported Claims That Their Products and Therapies Can Effectively Prevent or Treat COVID-19 [June 18, 2020] ReadMore
  • Federal Trade Commission (FTC) and Department of Justice (DOJ) issue Antitrust guidelines for evaluating vertical mergers [June 30, 2020] ReadMore

ENERGY

  • National Green Tribunal (NGT) forms panel to probe non-compliance by Central Coalfields, issues notice [June 23, 2020] ReadMore
  • European Union (EU) draft hydrogen plan splits supporters down colour-coded lines [June 26, 2020] ReadMore

NEWS

  • Supreme Court (SC) stays High Court (HC) order on reserved category candidate migrating to general quota [June 16, 2020] ReadMore
  • Supreme Court (SC) wants mental illness to be covered by insurance companies as provided in law [June 16, 2020] ReadMore
  • Depositors seek RBI protection against waiver of bank interest [June 17, 2020] ReadMore
  • The Securities and Exchange Board of India (SEBI) tweaks in takeover norms to help promoters raise holding [June 18, 2020] ReadMore
  • Google Pay not a payment system operator: Reserve Bank of India (RBI) reportedly to High Court (HC) [June 20, 2020] ReadMore
  • Government looking into the need of Centralized Appellate Authority of Advance Rulings [June 22, 2020] ReadMore
  • The Securities and Exchange Board of India (SEBI) eases preferential issue norms for stressed firms [June 23, 2020] ReadMore
  • Supreme Court (SC) upholds the Bombay High Court (HC) order to allow airlines to book middle seats [June 26, 2020] ReadMore

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