13 Aug 2020
The provisions of the Companies Act, 2013 (the “Act”) relating to the issuance of debentures, stipulate various requirements which the issuing company has to comply with, which includes maintaining a Debenture Redemption Reserve (DRR) account and in case of a secured debenture, filing of charge-related documents. The outbreak of COVID-19 and the related regulatory lockdowns have affected business inflows and administrative functioning of many organizations. On one hand, some of the companies are facing financial difficulties in meeting their repayment obligations under the debentures issued, while on the other hand, these companies are unable to meet the statutory requirements stipulated under the Act. Considering the request of various stakeholders, the Ministry of Corporate Affairs, India (“the MCA”) has brought out several relaxations relating to the compliance requirements for debenture issuance under the Act.

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06 Aug 2020

Consumers, especially individuals and small buyers, who were at the short end of the bargain when it came to market operations can now seek respite in the new consumer law which significantly turns the table in their favour. Further, the rapid development of technology and e-commerce has posed considerable challenges to adequate protection of consumers’ rights. The Consumer Protection Act, 2019 (“Act”) acknowledges these challenges and marks the commencement of an era of consumer rights which are in tandem with the changing dynamics of the new-age consumer expectations thereby making consumers the king in the true sense. The Act was notified on 9th August, 2019 and it came into force on 20th July, 2020, repealing and replacing the Consumer Protection Act, 1986 (“earlier Act”). The Act aims at revamping the process of resolution and settlement of consumer disputes to make it timelier and more effective.>>

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