Notifications Archives

RBI re-defines ‘Startup’ vide Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Fourth Amendment) Regulations, 2024

The 2024 Regulations have amended the meaning of startup in the explanations to Regulation 5 and Schedule I para 1 (vii) of the 2015 Regulations.

Actions under Stage IV of GRAP (Severe+ Air Quality) in Delhi

Legislation Updates Notifications

GRAP Stage IV Actions to tackle ‘Severe+’ Air Quality Crisis as Delhi-NCR gasps for clean air

After the AQI of Delhi clocked at 457 on 17-11-2024, the Sub-Committee decided to implement all actions under Stage IV of the GRAP from 18-11-2024.

Legislation Updates Notifications

SEBI simplifies registration process for FPIs

Applicants will have to fill in the fields which are unique to them to avoid duplication of information.

Legislation Updates Notifications

BCI prohibits usage of ‘Indian’, ‘National’ and other terms of ‘national significance’ in legal events/moots without necessary approval

‘The false impression created by usage of terms such as ‘National’, ‘Indian’, etc. can distort participants’ understanding of the event’s stature and authority, leading them to believe that they are attending a government-sanctioned event.’

Legislation Updates Notifications

BCI directs Firms, Senior Advocates, Advocates to pay minimum stipend to Junior Advocates

Junior Advocates in urban areas will be paid a minimum stipend of Rs.20000 p.m.

Legislation Updates Notifications

MoF notifies Sections relating to GST in Finance (No. 2) Act

Insertion of Section 128-A in CGST Act gave relief to the taxpayers who were burdened with their previous tax obligations.

Legislation Updates Notifications

Section 128-A of CGST Act notified providing relief to taxpayers having old tax obligations

Taxpayers are not required to pay extra interest or penalties on their previous tax obligations.

Legislation Updates Notifications

SEBI issues measures to strengthen Equity Index Derivatives Framework

The measures have been issued on the recommendation of Expert Working Group.

ministry of environment, forest and climate change

Legislation Updates Notifications

MoEF notifies Ecomark Rules 2024 to differentiate products having lesser adverse effects on environment

Ecomark will be valid for any product for a period of 3 years.

Directions for centers of legal education

Legislation Updates Notifications

BCI mandates criminal background check of the students before issuance of final marksheets and degrees

BCI should be informed of any ongoing FIR, criminal case, conviction or acquittal.

Legislation Updates Notifications

RBI imposes penalty of Rs. 7.9 lakh on Muthoot Vehicle & Asset Finance Ltd. for non-compliance with Liquidity Risk Management Framework and RBI Directions for NBFCs

Apart from failing to disclose information regarding LCR and conveying the loan amounts sanctioned, MVAFL also failed to submit data of gold loan customers.

Legislation Updates Notifications

RBI imposes penalty of Rs. 10.4 lakhs on HP Financial Services for failing to adhere to its KYC, NBFC, and IT framework regulations for the non-banking financial sector

HP Financial Services not only failed to establish a periodic review of risk categorization of accounts but also failed to form an IT Strategy Committee as well as an IT Steering Committee.

Legislation Updates Notifications

RBI imposes penalty amounting to Rs. 1 Crore on HDFC Bank Limited for non-compliance with directions

The penalty imposed was based on deficiencies in statutory and regulatory compliance on behalf of HDFC bank.

Legislation Updates Notifications

RBI imposes penalty amounting to Rs. 1.91 crores on Axis bank Limited for failure to comply with Banking Regulation Act, 1949 and RBI Directions

Axis bank contravened S. 19(1)(a) of the Banking Regulation Act as one of its wholly owned subsidiaries was engaged in an impermissible business as per S. 6 of the Act.

Legislation Updates Notifications

SEBI introduces Chapter on ‘Restriction in Dealing with Unregulated/Other Entities’ in Regulations for Securities Contracts, Depositories and Participants, and Intermediaries

The provision made vide 2024 Amendment Regulations would not apply to associations through a specified digital platform.

Legislation Updates Notifications

Uttar Pradesh Digital Media Policy, 2024

Policies, Schemes and achievements will be publicized on social media by digital influencers.

Legislation Updates Notifications

SEBI bans Reliance Home Finance Limited and 23 other entities for 5 years; imposes penalty of Rs. 25 crores on each entity

SEBI penalizes Anil Ambani for siphoning of funds from public listed companies, RHFL

Legislation Updates Notifications

Directorate of Family Welfare notifies constitution of Medical Boards in the NCT of Delhi

The Medical Boards will be constituted in addition to the existing PMBs in different hospitals.

Legislation Updates Notifications

SEBI issues Master Circular for Stockbrokers to increase accessibility by consolidating all relevant circulars

To enable the users to have access to the provisions of all applicable circulars in one place, SEBI has previously issued a Master Circular dated 22-05-2024 for Stockbrokers.

Legislation Updates Notifications

Intellectual Property laws decriminalized and amended vide Jan Vishwas (Amendment of Provisions) Act, 2023 w.e.f. 01-08-2024

The amendments mentioned in the Schedule to the Jan Vishwas (Amendment of Provisions) Act, 2023 have either decriminalized, omitted, or revised the penalties for certain offences in Intellectual Property laws.