Living with the times

A lawyer who is not up to date with the current legal and regulatory updates is nothing short of dangerous. Therefore, at NovoJuris Legal, we strive to stay current. We are also strong believers of growth of knowledge through sharing. These articles and blogs help us share our research with the world, so that no one has to reinvent the wheel yet again.

  • REGULATORY UPDATE: MINISTRY OF FINANCE -RELAXATION IN MAT PROVISIONS FOR COMPANIES FACING INSOLVENCY.

    REGULATORY UPDATE: MINISTRY OF FINANCE -RELAXATION IN MAT PROVISIONS FOR COMPANIES FACING INSOLVENCY.

    The Ministry of Finance vide its press release dated 6 January 2018 has informed that representations were received from the companies against whom an application for corporate insolvency resolution has been admitted by the adjudicating authority under section 7, 9

  • REGULATORY UPDATE: MINISTRY OF FINANCE-SUBMISSION OF FINANCIAL INFORMATION TO INFORMATION UTILITIES UNDER IBC.

    REGULATORY UPDATE: MINISTRY OF FINANCE-SUBMISSION OF FINANCIAL INFORMATION TO INFORMATION UTILITIES UNDER IBC.

    In terms of Insolvency and Bankruptcy Code, 2016, a financial creditor have to submit financial information and information relating to assets in relation to which any security interest has been created, to an information utility (IU) in the manner as

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS-DESIGNATION OF SPECIAL COURT FOR THE STATE OF KARNATAKA.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS-DESIGNATION OF SPECIAL COURT FOR THE STATE OF KARNATAKA.

    The MCA vide its notification dated 4 December 2017 with the concurrence of the Chief Justice of the High Court of Karnataka, designated the LIX Additional City and Sessions Judge, Bengaluru City, as Special Court for the speedy trial of

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS-NOTIFICATION OF COMPANIES (AMENDMENT) ACT 2017.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS-NOTIFICATION OF COMPANIES (AMENDMENT) ACT 2017.

    The MCA has notified the Companies (Amendment) Act, 2017 effective from 3 January 2018, this shall amend certain existing provisions of the Companies Act 2013. Key Amendments are as below: The definition of “Associate Company” is aligned with Accounting Standard

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (RESTRICTION ON NUMBER OF LAYERS) RULES, 2017.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (RESTRICTION ON NUMBER OF LAYERS) RULES, 2017.

    In view of reports of misuse of multiple layers of companies, where companies create shell companies for diversion of funds or money laundering, MCA vide its notification dated 20 September 2017 has notified the Companies (Restriction on the number of

  • REGULATORY UPDATE: EMPLOYMENT LAW - PAYMENT OF GRATUITY (AMENDMENT) BILL, 2017

    REGULATORY UPDATE: EMPLOYMENT LAW - PAYMENT OF GRATUITY (AMENDMENT) BILL, 2017

    The Union Cabinet has approved the introduction of this Bill in the Parliament. The main purpose of this Bill is to increase the ceiling of Gratuity Payments for private sector employees, in line with the ceiling for Government employees, which

  • REGULATORY UPDATE: INTRODUCTION OF CODE OF WAGES BILL, 2017

    REGULATORY UPDATE: INTRODUCTION OF CODE OF WAGES BILL, 2017

    On 10 August 2017, the Code of Wages Bill, 2017, was introduced before the Lok Sabha. This is part of the initiative to rationalise the Minimum Wages Act, 1948; the Payment of Wages Act, 1936; the Payment of Bonus Act,

  • REGULATORY UPDATE: SEBI - INVESTMENTS BY FOREIGN PORTFOLIO INVESTORS (FPI) IN GOVERNMENT SECURITIES

    REGULATORY UPDATE: SEBI - INVESTMENTS BY FOREIGN PORTFOLIO INVESTORS (FPI) IN GOVERNMENT SECURITIES

    The SEBI vide its circular no. IMD/FPIC/CIR/P/2017/113 dated 4 October 2017 has revised Foreign Portfolio Investors (FPI) debt limits for investment in Government securities for the October-December 2017 quarter as below: FPI investment limit in Central Government securities has been

  • REGULATORY UPDATE: DEFERMENT OF IMPLEMENTATION OF SEBI CIRCULAR DATED 4 AUGUST 2017 REGARDING DISCLOSURE BY LISTED ENTITIES

    REGULATORY UPDATE: DEFERMENT OF IMPLEMENTATION OF SEBI CIRCULAR DATED 4 AUGUST 2017 REGARDING DISCLOSURE BY LISTED ENTITIES

    SEBI vide its circular dated 4 August 2017 had directed listed companies to disclose details on defaults of loan payment from banks and other financial institutions to the public within one working day. Now, SEBI vide its circular dated 29

  • REGULATORY UPDATE: NOTIFICATION OF SECURITIES AND EXCHANGE BOARD OF INDIA(SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (AMENDMENT) REGULATIONS, 2017

    REGULATORY UPDATE: NOTIFICATION OF SECURITIES AND EXCHANGE BOARD OF INDIA(SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (AMENDMENT) REGULATIONS, 2017

    The SEBI vide its notification dated 14 August 2017, has amended Regulation 10 (General Exemptions from making Open Offer) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2017. This regulation shall not

  • REGULATORY UPDATE: NOTIFICATION OF SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (FOURTH AMENDMENT) REGULATIONS, 2017

    REGULATORY UPDATE: NOTIFICATION OF SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (FOURTH AMENDMENT) REGULATIONS, 2017

    The SEBI vide its notification dated 14 August 2017, has amended Regulation 70 of the SEBI (Issue of capital and disclosure requirements) Regulations, 2009. In case of Conversion of debt into equity under strategic debt restructuring scheme, the pricing guidelines

  • REGULATORY UPDATE: TELECOM REGULATORY AUTHORITY OF INDIA - RECOMMENDATIONS ON ENCOURAGING DATA USAGE IN RURAL AREAS THROUGH PROVISIONING OF FREE DATA

    REGULATORY UPDATE: TELECOM REGULATORY AUTHORITY OF INDIA - RECOMMENDATIONS ON ENCOURAGING DATA USAGE IN RURAL AREAS THROUGH PROVISIONING OF FREE DATA

    With an aim to increase data connectivity and digital outreach, the TRAI has reiterated its stance and plans to offer 100 MB data to users in rural and remote areas for free. In its response to the Department of Telecommunications’

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