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  • RBI opens Rupee Interest Rate Derivatives market to Non-Residents for hedging and trading in India

    RBI opens Rupee Interest Rate Derivatives market to Non-Residents for hedging and trading in India

    The Reserve Bank of India (“RBI”) on 27 March 2019, announced that a Non-Resident[1] shall be given access to the Rupee Interest Rate Derivative (“IRD”) market in India vide the notification of Non-resident Participation in Rupee Interest Rate Derivatives Market

  • Changes in Eligibility Criteria for Class Action Application

    Changes in Eligibility Criteria for Class Action Application

    The Ministry of Corporate Affairs (“MCA”) on 08 May 2019 amended the National Company law Tribunal Rules, 2016, (“Rules”) which will streamline the provisions of Rule 84 of the said Rules (i.e. Right to apply under the Companies Act in

  • Changes in the process of Strike-off of the Companies

    Changes in the process of Strike-off of the Companies

    The Ministry of Corporate Affairs (“MCA”) on 8 May, 2019 has notified the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2019 (“Amendment Rules”) which shall come into effect from 10 May, 2019. The Amendment

  • Notification of Companies (Acceptance of Deposits) Second Amendment Rules, 2019

    Notification of Companies (Acceptance of Deposits) Second Amendment Rules, 2019

    The Ministry of Corporate Affairs (the MCA) vide its Notification dated 30 April 2019, has amended the Companies (Acceptance of Deposits) Rules, 2014. This amendment is in relation to its earlier notification dated 22 January 2019 which mandated the non-government

  • SEBI Guidelines to determine allotment and trading lot size for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs)

    SEBI Guidelines to determine allotment and trading lot size for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs)

    The Securities and Exchange Board of India (SEBI) recently amended the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (“InvIT Regulations”) and SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”) vide notification dated 22 April, 2019. With the amended regulations notified,

  • Draft Enabling Framework for Regulatory Sandbox

    Draft Enabling Framework for Regulatory Sandbox

    In July 2016 the Reserve Bank of India (RBI) had setup an inter-regulatory Working Group to look into and report on various aspects relating to fintech. One of the key recommendations of the Working Group was the introduction of an

  • Extension of due date for filing ACTIVE form

    Extension of due date for filing ACTIVE form

    On 21 February 2019, the Ministry of Corporate Affairs (the MCA) had mandated all companies incorporated prior to 31 December 2017, to file Active Company Tagging Identities and Verification (Form INC 22A Active) on or before 25 April 2019. However,

  • Amendment to Regulations on Institutional Trading Platform- Innovation Growth Platform 1.0

    Amendment to Regulations on Institutional Trading Platform- Innovation Growth Platform 1.0

    Background In the year 2016, Securities Exchange Board of India (SEBI) had introduced Institutional Trading Platform vide amendment to the SEBI Regulations (Issue of Capital and Disclosure Requirements), 2009 (SEBI ICDR Regulation) to facilitate listing of start-ups in sectors like

  • Hike in Minimum Wages for Workers in Shops and Commercial Establishment from April, 2019

    Hike in Minimum Wages for Workers in Shops and Commercial Establishment from April, 2019

    The Government of Karnataka vide notification no. P&S-I/CPI/2018-19 dated 1st March, 2019, has enhanced the consumer price index (CPI) for 2019 which has become effective from 1st April, 2019 and shall remain effective till 31st March 2020. Under the minimum

  • Withdrawal of restriction on LLPs to carry on Manufacturing activities

    Withdrawal of restriction on LLPs to carry on Manufacturing activities

    The Ministry of Corporate Affairs (the MCA) had earlier issued Office Memorandum (OM) No. to all the Registrar of Companies (the RoCs) dated on 6 March 2019, instructing the RoCs to reject the applications for incorporation of Limited Liability Partnerships

  • Clarification on KYC updation for holders of Director Identification Number (DIN)

    Clarification on KYC updation for holders of Director Identification Number (DIN)

    The Ministry of Corporate Affairs (the MCA) on 5 July 2018, had mandated to every Individual who has been allotted a Director Identification Number (DIN) as on 31 March of every year to file the Form DIR 3KYC on or

  • National Policy on Software Products, 2019

    National Policy on Software Products, 2019

    The Ministry of Electronics and Information Technology released the National Policy on Software Products, 2019 (“the Policy”) aimed at stimulating the software products ecosystem in India. The Policy acknowledges that the Indian IT/ITeS industry is primarily service oriented. The Policy

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