News and Updates Issue 52 Duration December 16-31, 2020

"Determine that the thing can and shall be done, and then we shall find the way."

ABRAHAM LINCOLN

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a press release RBI/2020-21/80 dated December 18, 2020 for Amendment to Master Direction (MD) on KYC – Centralized KYC Registry – Roll out of Legal Entity Template & other changes ReadMore

COMPETITION LAW

  • Company that provides travel emergency services settles Federal Trade Commission (FTC) allegations that it failed to secure sensitive Consumer Data [December 16, 2020] ReadMore
  • Federal Trade Commission (FTC) data show Gift Cards remain Scammers’ Favorite Payment Method [December 21, 2020] ReadMore
  • Federal Trade Commission (FTC) approves final Amendments to the energy labeling rule [December 22, 2020] ReadMore
  • Competition Commission of India (CCI) approves acquisition by TPG Growth V SF Markets Pte. Ltd. (“TPG/Acquirer”) of 8% (approx.) of the equity shareholding of API Holdings Private Limited (“API/Target”) under Section 31(1) of the Competition Act, 2002 [December 30, 2020] ReadMore
  • Press release no. 49/2020-21 to relax disclosure requirements regarding noncompete restrictions, entered into as a part of combinations. In this regard, the Commission has further withdrawn the Guidance Note on Non-compete restrictions [December 31, 2020] ReadMore

ENERGY

  •  Government promulgates rules for right of power consumers [December 21, 2020] ReadMore
  • India launches first remote monitoring system for oil refineries [December 30, 2020] ReadMore
  • After National Company Law Appellate Tribunal (NCLAT), National Company Law Tribunal (NCLT) now also dismisses appeal of Hindustan Oil Exploration Company [December 29, 2020] ReadMore
  • India gets a new power central transmission utility [December 31, 2020] ReadMore

NEWS

  • The Securities and Exchange Board of India (SEBI)tweaks public shareholding norms for companies under insolvency process [December 16, 2020] ReadMore
  • Reserve Bank of India (RBI) identifies cross border payments for the second leg of 'sandbox' innovation [December 16, 2020] ReadMore
  • Facebook accuses Apple of anticompetitive behavior [December 16, 2020] ReadMore
  • Government ready to bring in National Broadcast Policy soon [December 17, 2020] ReadMore
  • Confederation of All India Traders (CAIT) says Amazon's arbitrary policies to dominate India's retail trade should end [December 21, 2020] ReadMore
  • Facebook, Google agree to assist one another and cooperate [December 23, 2020] ReadMore

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