Sebi proposes appointment process, cooling off period for MII key officials, ET LegalWorld
Markets regulator Sebi on Friday proposed a process for appointing or removing specific key officials of stock exchanges and other market institutions, along with a cooling-off period before they can join a competing institution. These proposals are aimed at ensuring that MIIs are staffed with qualified, independent key management personnel (KMPs) and directors while safeguarding […]
IBBI proposes mandatory monitoring committees for resolution plans, ET LegalWorld
The Insolvency and Bankruptcy Board of India (IBBI) has proposed monitoring committees for implementing resolution plans under the Insolvency and Bankruptcy Code (IBC) rules. These changes seek to address challenges in implementing resolution plans and bolster confidence in the insolvency resolution process. The move came after a Supreme Court judgement emphasising statutory recognition for such […]
IBBI proposes amendments to liquidation regulations, Legal News, ET LegalWorld
The Insolvency Bankruptcy Board of India has issued a discussion paper on amendments to the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. Review of Auction Framework The existing provisions result in: Prospective bidders effectively get only 14 days to participate […]
Sebi proposes increase in application size for SME IPOs, Legal News, ET LegalWorld
Markets regulator SEBI on Tuesday proposed increasing the minimum application size for SME IPOs to up to Rs 4 lakh, to ensure that only informed investors with adequate risk appetite and investment capacity can apply. This move follows a rise in SME (small and medium enterprise) issues, which has driven significant investor participation. With the […]
Sebi proposes accountability for AI use by market infra institutions, intermediaries, ET LegalWorld
Regulator Sebi on Wednesday proposed holding market infrastructure institutions and intermediaries accountable for any consequences arising from their use of artificial intelligence (AI) tools in operations or client services. This includes ensuring data privacy, security, and integrity, particularly when handling sensitive investor information. Additionally, the entity should also be accountable for any actions taken based […]
Govt plans amendments to law, proposes dedicated commercial courts at district level, ET LegalWorld
The Union law ministry has floated a draft Bill to amend the Commercial Courts Act which, among other things, proposes setting up of “dedicated” commercial courts at the district level. Seeking views of the public on the proposed amendments, the department of legal affairs in the law ministry has said that the aim is to […]
CCI proposes changes to penalty recovery rules; seeks public feedback by Dec 6, ET LegalWorld
The Competition Commission of India (CCI) on Thursday proposed amendments to improve the efficiency and structure of its penalty recovery process. Inviting comments by December 6, the CCI said the proposed changes target procedural clarity and effectiveness in recovering penalties levied for violations of the Competition Act, 2002. “Based on the experience gained during implementation […]
CCI proposes changes to penalty recovery rules; seeks public feedback by Dec 6, ET LegalWorld
The Competition Commission of India (CCI) on Thursday proposed amendments to improve the efficiency and structure of its penalty recovery process. Inviting comments by December 6, the CCI said the proposed changes target procedural clarity and effectiveness in recovering penalties levied for violations of the Competition Act, 2002. “Based on the experience gained during implementation […]
IBBI proposes mediation option for operational creditors before filing insolvency under section 9 of IBC, ET LegalWorld
The Insolvency Bankruptcy Board of India has proposed that operational creditors can exercise the option of mediation before filing insolvency applications under Section 9 of the IBC. Under this scheme, the operational creditor can undergo mediation with the aid of a mediator, as provided under the Mediation Act, 2023. In case of failure of mediation […]
Sebi proposes measures to promote ease of doing biz for Small, Medium REITs, ET LegalWorld
To facilitate ease of doing business for Small and Medium REITs (SM REITs), markets regulator Sebi on Wednesday proposed standardising disclosures in scheme offer documents and simplifying public issue processes for such schemes. Additionally, the regulator proposed to align SM REIT (Real Estate Investment Trust) regulations with existing REIT norms. The proposals aim to simplify […]