Month: January 2017

Reserve Bank of India Petitioner(s) Vs. Jayantilal N. Mistry Respondent(s)

Reserve Bank of India Petitioner(s). VS Jayantilal N. Mistry Respondent(s). Citation Civil Petition No.707 of 2002 Court Supreme Court of India I. Key Note of the Case: Whether the Reserve Bank of India has rightly refused to disclose information on the ground of its fiduciary relationship with bank. II. Facts of the Case: The respondent sought …

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Regulatory Requirements for Clinical Trials

I. Introduction: India is one of the major destination for conducting clinical trials. The Drug Controller General of India (DCGI) is the governing body responsible for all pharmaceutical-research and regulatory issues in India. While conducting clinical trials in India, regulations have come to ensure safety and wellbeing of the study subjects in the trial. In …

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The Insolvency and Bankruptcy Code, 2016

(Provisions of this code override the existing laws on matters pertaining to insolvency and bankruptcy) I. Introduction: The Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) was passed in order to consolidate and amend the existing legal framework available to deal with the insolvency and bankruptcy matters. The IBC offers a comprehensive and uniform mechanism …

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Partner’s Column -January, 2017

“Wishing you all a very Happy and Prosperous New Year-2017!!” “Effectiveness of policy also depends on implementation; ideas alone don’t lead to desired outcomes.” After Prime Minister Mr. Narendra Modi announcing withdrawal of higher currency as legal tender to curb black money, finance minister Mr. Arun Jaitley added a new gloss to the decision. He announced …

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Compliance Calendar as per Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations 2015”) (Equity listed) for the quarter ended on 31st December, 2016

S. No Activities Regulations Acts / Regulations, etc. Compliance Due Date 1. Statement on Investor Complaints: Specifying the number of investor complaints pending at the beginning of the quarter, those received during the quarter, disposed of during the quarter and those remaining unresolved at the end of the quarter. 13(3) SEBI Listing Regulations 2015 21st January, …

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Fast Track Merger – Companies Act, 2013

I. Introduction: Merger/amalgamation is a restructuring tool which helps companies in expansion and diversification of their business and to achieve their under lying objectives. In commercial parlance, merger essentially means an arrangement whereby one or more existing companies merge their identity into another to form a new and different entity which may or may not …

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Ministry of corporate affairs (MCA)

Commencement notification dated 07.12.2016On 07th December, 2016, the Central Government of India, in exercise of powers conferred under sub-section 3 of section 1 of the Companies Act, 2013, notified the following sections of the Companies Act, which are made effective from 15th December, 2016. Sections Notified Sections Notified Section 2(23) Section 7(7) (c)&(d ) Section …

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Securities and Exchange Board of India (SEBI)

SEBI (Portfolio Manager) (Amendment) Regulations, 2016Vide notification issued by SEBI dated 02nd January, 2017, a new chapter on “Eligible Fund Managers” and new schedule in relation to “Declarations for Eligible Fund Managers” were inserted governing Portfolio Managers.The provisions of the above mentioned new chapter shall apply to eligible fund managers exclusively, pertaining to their activities …

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Reserve bank of India (RBI)

Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Second Amendment) Regulations, 2016: On 02nd January, 2017, RBI in exercise of powers conferred under section 47 of the Foreign Exchange Management Act, 1999, inserted the following after Clause (vi), sub regulation (2) of Regulation 6 of Foreign Exchange Management (Transfer or Issue of Any …

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