Insights

INFORM: Infrastructure, Projects & Finance – March 2024

The highlights of the current issue are:

Notifications/circulars:

  • Changes in Liquidation Process to Benefit Creditors
  • IBBI Regulations on Bankruptcy Process for Personal Guarantors to Corporate Debtors Amended
  • IBBI Amendment on Voluntary Liquidation Process
  • IBBI Regulations Amended to Streamline Corporate Insolvency Resolution Process
  • Indian Bank Branches in Gift-IFSC Permitted to Engage in Trading on India International Bullion Exchange (IIBX)
  • Ceiling on Remuneration of Non-Executive Director Revised to 30 Lakhs
  • RBI Streamlines the Procedure for Banks and NBFCs to File Supervisory Returns
  • RBI Issues Draft Disclosure Framework on Climate-Related Financial Risks, 2024
  • Deemed Approval Provision Added to Revamped DPRs for Road Construction

Case laws:

  • Forfeiture of Earnest Money Deposit by Bank is Not Limited to Extent of Damage Suffered
  • Mere Denial of Transaction Will Not Annul the Lawful Discharge of Payment Through Cheque
  • Lookout Circular to be Issued Only in Exceptional Circumstances
  • Assessing Officer Must be Part of Inspection Team in Electricity Theft Cases

Quick Reads:

  • VISA and Mastercard to Suspend Card-based Commercial Payments on Communication from RBI
  • Paytm Payments Bank Replaced as Acquirer Bank at 247 Toll Plazas
  • Finance Ministry Considers Changes to SARFESI Act and DRT to Expedite Debt Recovery
  • Voluntary Mediation Proposed to be Included Under Insolvency Law by Expert Panel
  • Charge on Assets by Secured Creditors to Take Precedence Over Tax Authorities