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: INSOLVENCY AND BANKRUPTCY BOARD - NOTIFICATION OF THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE 2017.

    REGULATORY UPDATE: INSOLVENCY AND BANKRUPTCY BOARD - NOTIFICATION OF THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE 2017.

    The President of India on 23 November 2017 gave his assent to an amendment in the Insolvency and Bankruptcy Code 2016. The key highlights of Ordinance are as below: The Ordinance provides an amendment to the definition of “Resolution Applicant”

  • REGULATORY UPDATE: INSOLVENCY AND BANKRUPTCY BOARD - NOTIFICATION OF IBBI (INFORMATION UTILITIES) (AMENDMENT) REGULATIONS, 2017

    REGULATORY UPDATE: INSOLVENCY AND BANKRUPTCY BOARD - NOTIFICATION OF IBBI (INFORMATION UTILITIES) (AMENDMENT) REGULATIONS, 2017

    The IBBI has notified IBBI (Information Utilities) (Amendment) Regulations, 2017 amending the shareholding limit of the Information Utility which is registered with the IBBI to carry on the business of information utility. Prior to this notification, a person should not

  • REGULATORY UPDATE: INSOLVENCY AND BANKRUPTCY BOARD - NOTIFICATION OF THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (FAST TRACK INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS)

    REGULATORY UPDATE: INSOLVENCY AND BANKRUPTCY BOARD - NOTIFICATION OF THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (FAST TRACK INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS)

    The Insolvency and Bankruptcy Board of India amended (i) the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 by the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)

  • REGULATORY UPDATE: RESERVE BANK OF INDIA - INVESTMENT BY FOREIGN PORTFOLIO INVESTORS (FPI) IN GOVERNMENT SECURITIES MEDIUM TERM FRAMEWORK

    REGULATORY UPDATE: RESERVE BANK OF INDIA - INVESTMENT BY FOREIGN PORTFOLIO INVESTORS (FPI) IN GOVERNMENT SECURITIES MEDIUM TERM FRAMEWORK

    The RBI vide its notification dated 28 September 2017, has increased the limits for investment by FPIs for the quarter October-December 2017 is increased by INR 80 billion in Central Government Securities and INR 62 billion in State Development Loans.

  • REGULATORY UPDATE: RESERVE BANK OF INDIA - NOTIFICATION OF FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) REGULATIONS, 2017

    REGULATORY UPDATE: RESERVE BANK OF INDIA - NOTIFICATION OF FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) REGULATIONS, 2017

    The Reserve Bank of India (RBI), vide Notification No. FEMA 20(R)/ 2017-RB, dated 7 November 2017 issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 replacing the Foreign Exchange Management (Transfer

  • REGULATORY UPDATES: PEER TO PEER (NBFC-P2P) LENDING PLATFORM (RESERVE BANK) DIRECTIONS, 2017

    REGULATORY UPDATES: PEER TO PEER (NBFC-P2P) LENDING PLATFORM (RESERVE BANK) DIRECTIONS, 2017

    On 24 August 2017, the RBI had issued a notification that the Company into “business of a peer to peer lending platform” would be termed as Non-Banking Financial Company(NBFC) and such activity shall be carried out with the prior approval

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - DISQUALIFICATION OF A DIRECTOR.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - DISQUALIFICATION OF A DIRECTOR.

    The Ministry of Corporate Affairs has notified a list of Directors who have been disqualified to act as directors pursuant to section 164(2)(a) of the Companies Act, and the Rules made thereunder. Hence Directors are requested to note that no

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (ACCEPTANCE OF DEPOSITS) SECOND AMENDMENT RULES, 2017.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (ACCEPTANCE OF DEPOSITS) SECOND AMENDMENT RULES, 2017.

    The MCA vide its notification dated 19 September 2017 has notified the Companies (Acceptance of Deposits) Second Amendment Rules, 2017 further to amend the Rule 3(3) of Companies (Acceptance of Deposits) Rules, 2014 to relax terms and conditions of acceptance

  • 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: MCA ISSUED NOTICE INVITING COMMENTS/SUGGESTIONS ON INTEGRATION OF NAME RESERVATION WITH SPICE E-FORM UNDER COMPANIES ACT, 2013

    REGULATORY UPDATE: MCA ISSUED NOTICE INVITING COMMENTS/SUGGESTIONS ON INTEGRATION OF NAME RESERVATION WITH SPICE E-FORM UNDER COMPANIES ACT, 2013

    The MCA in view of simplifying the process of name reservation for the Companies, it has issued the Consultation Paper on the integration of Name reservation with SPICE e-form under the Companies Act, 2013. In this regard, it has invited

  • ARRESTS IN CONNECTION WITH INVESTIGATION BY SERIOUS FRAUD INVESTIGATION OFFICE

    ARRESTS IN CONNECTION WITH INVESTIGATION BY SERIOUS FRAUD INVESTIGATION OFFICE

    NOTIFICATION OF THE COMPANIES (ARRESTS IN CONNECTION WITH INVESTIGATION BY SERIOUS FRAUD INVESTIGATION OFFICE) RULES, 2017. The MCA vide its notification dated 24 August 2017 has notified the Companies (Arrest in connection with Investigation by Serious Fraud Investigation Office) Rules, 2017

  • NOTIFICATION OF THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL (AMENDMENT) RULES 2017.

    NOTIFICATION OF THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL (AMENDMENT) RULES 2017.

    NOTIFICATION OF THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL (AMENDMENT) RULES 2017. The MCA vide its notification dated 23 August 2017 has amended Rule 63 of National Company Law Appellate Tribunal Rules 2016  notified on 21 July 2016 regarding Appearance by Authorised

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