Legally Bharat

MoS for finance, ET LegalWorld

The government said on Tuesday that capital markets regulator Sebi has “adequate internal mechanisms”, including a disclosure framework and provisions for recusal, to address issues relating to conflicts of interest. In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary said the Sebi board has adopted a code on conflicts […]

Builders Must File Annual Reports in 30 Days or Risk ₹5L Fine, ET LegalWorld

Representative image The Haryana Real Estate Regulatory Authority (HRera) has issued a strict directive to real estate promoters, mandating submission of annual reports for their under-construction projects within 30 days. The move comes after the regulator observed widespread non-compliance by promoters, raising concerns about transparency and accountability in the sector. During a recent review meeting, […]

Finance ministry official, ET LegalWorld

Concrete steps have been taken to regulate the fintech industry in India as per the Financial Action Task Force’s recommendations to tackle money laundering and terror financing, a central government official said on Wednesday. India is among the few countries that are working on FATF recommendations to regulate the fintech industry, said Vivek Agrawal, additional […]

Govt working on integrated platform for insolvency ecosystem: Official, ET LegalWorld

The government is working on an integrated platform for the insolvency ecosystem covering key stakeholders that will also help speed up resolution processes. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, aims to provide market-linked and time-bound resolution of stressed assets. However, there have been delays in the resolution process. Anita […]

Over 40,000 filed in NCLT under IBC by September 2024, ET LegalWorld

Highlights As of September 30, 2024, a total of 40,943 cases have been filed in the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016. Creditors have realized 3.55 lakh crore under resolution plans, achieving 161.11% of the liquidation value and 86.13% of the fair value of the assets. The quarterly reports indicate […]

PM Modi to participate in the Constitution Day celebrations at SC, ET LegalWorld

Prime Minister Narendra Modi will participate in the Constitution Day celebrations at the Supreme Court on Tuesday. “On the momentous occasion of completion of 75 years of adoption of the Constitution of India, Prime Minister Narendra Modi will participate in the Constitution Day celebrations on 26th November at around 5 p.m. at the Auditorium, Administrative […]

Adani Group and Recent Investigations, Legal News, ET LegalWorld

The FCPA stands for Foreign Corrupt Practices Act of 1977, was enacted by Congress for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. Amendments to the FCPA The FCPA was amended in 1998, with which the […]