Competition Comm reviewing feedback on proposed changes to penalty recovery norms, ET LegalWorld
Competition Commission of India (CCI) is reviewing the feedback received on the proposed amendments of norms related to the manner of recovery of monetary penalty. In November 2024, the watchdog had put out for public consultations the draft amendments to the regulations pertaining to the manner of recovery of monetary penalty. CCI Chairperson Ravneet Kaur […]
Will the proposed changes to the Commercial Courts Act speed up dispute resolution?, ET LegalWorld
The government has proposed amendments to the Commercial Courts Act, 2015, to provide further impetus to quicker and specialized commercial dispute adjudication and simplify the applicable procedure related to commercial dispute resolution in courts. The objective of the Commercial Courts Act, 2015, is to ensure the expeditious, efficacious, and reasonable resolution of commercial cases. Dedicated […]
Proposed Vaibahv Coop.Hng.Sty.Ltd vs State Of Maharashtra on 12 December, 2024
Supreme Court of India Proposed Vaibahv Coop.Hng.Sty.Ltd vs State Of Maharashtra on 12 December, 2024 Author: Sudhanshu Dhulia Bench: Sudhanshu Dhulia REPORTABLE 2024 INSC 971 IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 5193 OF 2024 PROPOSED VAIBHAV COOPERATIVE HOUSING SOCIETY LIMITED …APPELLANT VERSUS STATE OF MAHARASHTRA & ORS. …RESPONDENTS JUDGMENT […]
Parliament committee approves of reforms proposed in Insurance Bill, ET LegalWorld
A parliamentary standing committee on finance has favoured various reforms proposed in the Insurance Amendment Bill, including issuance of a composite licence and reduction in capital requirement. “The committee notes that IRDAI has proposed amendments to the Insurance Act, 1938, allowing for composite insurance businesses and the same is under consideration of the Ministry. The […]
Carbon tax proposed by EU unilateral, arbitrary to hurt India’s export: FM, ET LegalWorld
Finance Minister Nirmala Sitharaman on Wednesday said the Carbon Border Adjustment Mechanism or CBAM is unilateral and arbitrary and will hurt India’s exports after its implementation by the European Union. CBAM are tariffs that will apply on energy-intensive goods imported into the European Union (EU). The EU has decided to impose carbon tax CBAM from […]
BlackBuck gets Sebi clearance for proposed IPO, ET LegalWorld
The Securities and Exchange Board of India (Sebi) has granted clearance to Flipkart-backed truck aggregator platform BlackBuck for its proposed initial public offering (IPO), according to a notification on the regulator’s website. The Bengaluru-based company had filed its draft red herring prospectus (DRHP) with Sebi in July for its IPO through which it plans to […]
Sebi gives in-principle approval to set up Jio Financial-BlackRock’s proposed mutual fund, ET LegalWorld
Capital market regulator Securities and Exchange Board of India (Sebi) has granted in-principle approval to Jio Financial Services and BlackRock Financial Management Inc to act as co-sponsors and set up proposed fund. The Reliance Industries’ NBFC arm and BlackRock Advisors Singapore Pte. Ltd have formed joint venture company named ‘Jio BlackRock Investment Advisers Private Limited’ […]
Indian audit regulators spar on proposed change for companies, ET LegalWorld
A proposal aimed at enhancing auditor responsibility for preparing consolidated financial statements of companies, including subsidiaries, has led to a clash between two of India’s accounting regulators. The National Financial Reporting Authority — a body set up by the Indian government and which has the power to monitor and enforce compliance of accounting standards — […]
Kenyan court halts proposed Adani lease of country’s main airport, ET LegalWorld
Kenya’s high court has temporarily blocked a proposed deal for India’s Adani Group to lease the country’s main airport for 30 years in exchange for expanding it, court documents showed. In a joint application, the Law Society of Kenya (LSK), the country’s main bar association, and the Kenya Human Rights Commission (KHRC) told the court […]
Sebi’s proposed insider trading amendments face criticism for expanding definitions, ET LegalWorld
Sebi recently proposed amendments to the Sebi (Prohibition of Insider Trading) Regulations 2015. Under PIT regulations, an ‘insider’ is someone who has access to unpublished price-sensitive information (UPSI) or is a ‘connected person’. The proposal expands the current law, which criminalises certain conduct by creating a presumption, effectively overturning the ‘innocent until proven guilty’ principle. […]