Bringing you the Best Analytical Legal News
The Insolvency Bankruptcy Board of India (‘IBBI’) and INSOL India held the 2nd International Conclave in Delhi on 7th December to engage in the path-breaking discourse surrounding the ever-evolving space of insolvency and bankruptcy.
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.
Apart from failing to disclose information regarding LCR and conveying the loan amounts sanctioned, MVAFL also failed to submit data of gold loan customers.
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.
The penalty imposed was based on deficiencies in statutory and regulatory compliance on behalf of HDFC bank.
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.
The matter revolved around the Notification dated 29-05-2015 issued by the Central Government, containing instructions for the Framework for Revival and Rehabilitation of MSMEs.
The 2024 Regulations provide that a person resident outside India who maintains a securities account with a depository in IFSC in India would be able to purchase or sell Sovereign Green Bonds issued by the Government of India.
Muthoot Finance had been allotting more than one UCIC to its individual customers in contradiction to the 2016 KYC Directions issued by the RBI.
The 2024 Master Directions are principle-based and have been issued to strengthen the role of the Board in overall governance as well as oversight of fraud risk management in Regulated Entities.
The Reserve Bank of India imposed monetary penalty on Punjab National Bank due to deficiencies in regulatory compliance.
by Karan Ajitsaria† and Nitesh Sharma††
The Foreign Exchange Management (Deposit) Regulations, 2016 has been amended by the Reserve Bank of India by Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024.
The extracts of the relevant web-pages furnished by the Hoichoi, the petitioners, themselves go on to show that the Google Play platform merely offers different payment methods but does not itself Act as a PA.
Calcutta High Court noted that as per Section 5(1) of the Maternity Benefits Act, 1961, every woman is entitled to, and her employer shall be liable for, the payment of maternity benefits.
“The petitioner is an organisation alleging circular financial transactions, violations of statutes, and private wealth creation from public funds. Regulatory bodies, including the Ministry of Corporate Affairs, RBI, SEBI, and NHB, are implored to take swift action in response to the serious allegations.”
The restrictions came after persistent non-compliances and continued material supervisory concerns in Paytm Payments Bank Ltd.
On 27-12-2023, the Reserve Bank of India (‘RBI’) notified the RBI (Government Securities Lending) Directions, 2023 applicable to all Government securities lending
On 21-12-2023, the Reserve Bank of India (‘RBI’) notified the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 mandating permission
The petitions are premised upon a show cause notice issued by DRI promulgating that the intelligence has indicated that various entities of Adani Group and Essar Group were indulging in gross over-valuation of imported goods (zero or low duty rated) to siphon off money abroad from Public Listed Companies.