News and Updates Issue 41 Duration July 01-15, 2020

“In the middle of difficulty lies opportunity.”

ALBERT EINSTEIN

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a notification RBI/2020-21/08 dated July 01, 2020, Master Circular – Scheme of Penalties for bank branches based on performance in rendering customer service to the members of public ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2020-21/03 dated July 01, 2020, Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2020-21/04 dated July 01, 2020, Master Circular – Detection and Impounding of Counterfeit Notes ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2020-21/07 dated July 01, 2020, Master Circular – Facility for Exchange of Notes and Coins ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2020-21/12 dated July 10, 2020, in relation to Exemption from Registration as NBFC – Alternative Investment Fund (AIF) ReadMore

LABOUR LAW

  • Ministry of Labour & Employment cabinet approves the proposal to extend the Employees Provident Fund (EPF) contribution 24% (12% employees share and 12% employers share) for another three months from June to August 2020 under PMGKY/AATMANIRBHAR BHARAT [July 08, 2020] ReadMore

COMPETITION LAW

  • Competition Commission of India (CCI) approves the proposed combination involving Eros International Plc (Eros Plc), STX FilmworksInc (“STX”) and Marco Alliance Limited (Marco)[July 08, 2020] ReadMore
  • Competition Commission of India (CCI) approves the acquisition (i) in Escorts Limited (Escorts) by Kubota Corporation (Kubota) and (ii) in Kubota Agricultural Machinery India Private Limited(KAI) by Escorts, under Section 31(1) of the Competition Act, 2002 [July 10, 2020] ReadMore
  • Federal Trade Commission (FTC) takes action against Marketer that falsely promised consumers next day shipping of Facemasks and other Personal Protective Equipment [July 08, 2020] ReadMore
  • Federal Trade Commission (FTC) launches New Online Tool for Exploring Military Consumer Data [July 13, 2020] ReadMore
  • Federal Trade Commission (FTC) finalizes Privacy Shield settlement with Ortho-Clinical [July 13, 2020] ReadMore

ENERGY

  • The relaxation by The Securities and Exchange Board of India (SEBI) in pricing methodology for listed companies having stressed assets has brightened the prospects of early resolution of CG Power resolution [July 06, 2020] ReadMore
  • The Securities and Exchange Board of India (SEBI)looks to allow futures trade in petrol, diesel: Official [July 08, 2020] ReadMore
  • Height norms eased, installing rooftop solar panels made simpler [July 14, 2020] ReadMore
  • Government allows electricity derivatives, forward contracts [July 15, 2020] ReadMore

NEWS

  • Stamp duty to be applicable to alternative investment funds: Securities and Exchange Board of India (SEBI)[July 01, 2020] ReadMore
  • Government assures measures to reduce logistics cost for steel players [July 01, 2020] ReadMore
  • Insolvency and Bankruptcy Board of India(IBBI) proposes to limit cases with insolvency professionals [July 03, 2020] ReadMore
  • The Securities and Exchange Board of India (SEBI)notifies amendments to investment adviser norms [July 03, 2020] ReadMore
  • Supreme Court (SC) allows email, fax, instant messaging apps like 'WhatsApp' for service of notices, summons [July 10, 2020] ReadMore
  • Supreme Court (SC) to examine social media curbs as a bail condition [July 11, 2020] ReadMore
  • Draft Transgender Persons (Protection of Rights) Rules, 2020, Published [July 14, 2020] ReadMore

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