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.

  • Dividend Criteria for Equity Investment under “Approved Investment”

    Dividend Criteria for Equity Investment under “Approved Investment”

    In pursuant to Ref. No: IRDAI/F&I/CIR/INV/216/08/2020, the IRDAI in exercise of the powers conferred under Regulation 14(2) of the IRDAI (Investments) Regulations, 2016 after taking into account the representations made by Life and General Insurance Councils, allowed the insurers to

  • Guiding Principles and SOP on preventive measures for Media Production to contain spread of COVID-19

    Guiding Principles and SOP on preventive measures for Media Production to contain spread of COVID-19

    The Ministry of Information and Broadcasting has released SOP for Media Production. The ministry with the consultation from the Ministry of Health & Family Welfare, has prepared the Guiding Principles and Standard Operating Procedures (SOPs) on preventive measures for Media

  • Notification of Exchange Rates for the purpose of determining imported and exported goods

    Notification of Exchange Rates for the purpose of determining imported and exported goods

    The Central Board of Indirect Taxes and Customs, in exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962) determined that the rate of exchange of conversion of each of the foreign currencies into

  • CCI approves proposed acquisition of C&S Electric Limited by Siemens Limited

    CCI approves proposed acquisition of C&S Electric Limited by Siemens Limited

    The Competition Commission of India has approved the proposed acquisition of C&S Electric Limited by Siemens Limited. The proposed combination envisages acquisition of 100% of the share capital of C&S Electric Limited (C&S) by Siemens Limited (Siemens India). A detailed

  • DPIIT released registration format for bidders from neighboring countries

    DPIIT released registration format for bidders from neighboring countries

    The Department of Industry Promotion and Internal Trade (DPIIT) has released a format for registration of bidders from countries which share land borders with India. The registration granted by this Department shall be only for the purpose of bid participation

  • Amendments in SEBI (International Financial Services Centers) Guidelines, 2015

    Amendments in SEBI (International Financial Services Centers) Guidelines, 2015

    Securities and Exchange Board of India (“SEBI”) vide its circular dated 21 August 2020, incorporated a new clause 8 (3) in SEBI (International Financial Services Centers ) Guidelines, 2015, stating that an entity whether based in India or outside India,

  • RBI issues instructions on process Governing review/renewal of credit facilities

    RBI issues instructions on process Governing review/renewal of credit facilities

    RBI vide its notification dated 21 August 2020, has issued certain instructions and guidelines to all the banks to be followed while governing the process of ad hoc/short review/renewal of the credit policy which are as follows: Banks, Scheduled Commercial

  • Clarification on new definition of Micro, Small and Medium Enterprises

    Clarification on new definition of Micro, Small and Medium Enterprises

    In view of the Gazette notification dated June 26, 2020 on new criteria for classifying the enterprises as micro, small and medium enterprises, Reserve Bank of India (RBI) vide its notification dated 21 August 2020, has clarified the following: All

  • Amendment to Corporate Social Responsibility Policy Rules

    Amendment to Corporate Social Responsibility Policy Rules

    Ministry of Corporate Affairs (“MCA”) vide its notification number G.S.R. 526(E) dated 24 August 2020 has notified Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 (the “Amended Rules”) in order to keep Companies (Corporate Social Responsibility Policy) Rules, 2014 (the

  • Additional activities that may be undertaken to discharge Corporate Social Responsibility

    Additional activities that may be undertaken to discharge Corporate Social Responsibility

    Ministry of Corporate Affairs (“MCA”) vide notification dated 24 August 2020 has amended item (ix) of Schedule VII of the Companies Act, 2013 (the “Act”) to include certain other activities which Companies may undertake in their Corporate Social Responsibility activities.

  • Order of FSSAI regarding Refunds

    Order of FSSAI regarding Refunds

    Order dated 18th August 2020 regarding Standards Operating Procedure (SoP) for applying and processing of refund of erroneous / inadvertent payments credited into FSSAI Account in respect of license / registration fee. The department of FSSAI in its order dated

  • Conditions for Pension Funds to be Identified as “Specified Person”

    Conditions for Pension Funds to be Identified as “Specified Person”

    The Income Tax Department has published a notification regarding the amendment in the Income Tax Rules, 1962 on 14th August, 2020 in pursuance of powers conferred by sub-clause (iii) of clause (c) of Explanation to the clause (23FE) of section

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