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  • IRDA amends the Consolidated Guidelines on Product filing in Health Insurance Business

    IRDA amends the Consolidated Guidelines on Product filing in Health Insurance Business

    The IRDA has issued new guidelines on Product filing in Health Insurance Business on 4 September 2020 which supersedes the previous guidelines issued on 22 July 2020. Some of the norms that are prescribed under the guidelines are – Any

  • MCA amends Deposit Rules for Startups

    MCA amends Deposit Rules for Startups

    The Ministry of Corporate Affairs has amended the Deposit Rules to allow start-ups to raise funds through corporate bonds or other convertible instruments for 10 years instead of 5 years. So an amount of twenty-five lakh rupees or more received

  • Standardised list of documents for FSSAI License

    Standardised list of documents for FSSAI License

    Pursuant to order dated 31st August, 2020, the Regulatory Compliance Division of the Food Safety and Standards Authority of India directs the designated officers to refrain from insisting on submission of additional documents beyond the list issued by the FSSAI.

  • Companies are now required to provide web-link for their Annual Return

    Companies are now required to provide web-link for their Annual Return

    Ministry of Corporate Affairs (MCA) vide its notification dated 28 August 2020 has notified section 23(ii) of the Companies Amendment Act 2017 i.e. Section 92 of Companies Act 2013 which requires Companies to place its annual return on their website,

  • Penalties due to non-submission of Annual / Half-Yearly returns by food businesses in previous years during COVID-19 pandemic period has been waived off

    Penalties due to non-submission of Annual / Half-Yearly returns by food businesses in previous years during COVID-19 pandemic period has been waived off

    The department of FSSAI on 24th August 2020 has decided not to count the period of 22nd March 2020 to 31st December 2020 for collection of penalties under clause 2.1.13 (3) of FSS (Licensing and Registration of Food Business) Regulation,

  • Draft regulation for Food Safety and Standards (Food Products Standards and Food Additives) Amendments Regulations, 2020 released

    Draft regulation for Food Safety and Standards (Food Products Standards and Food Additives) Amendments Regulations, 2020 released

    The Department of FSSAI on 21st August 2020 has released a draft regulation for Food Safety and Standards (Food Products Standards and Food Additives) Amendments Regulations, 2020 framed under FSS Act, 2006. These regulations are not yet notified and are

  • 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,

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