09 Oct 2018

The Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 (hereinafter “Rule(s)”) was published in the official gazette on 10th September, 2018 which is effective from 02nd October 2018. According to the Rules, the Ministry of Corporate Affairs, Govt. of India (hereinafter “MCA”) has mandated that every unlisted public company shall issue its securities only in dematerialised form and shall dematerialise all its existing securities as well.>>

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03 Oct 2018

Issuance of non-convertible debentures (NCDs) is one of most widely used methods through which companies have been raising money in the form of secured debt under private placement route. The issuance of NCDs are governed primarily through Sections 42 and 71 of the Companies Act, 2013 (‘Act’) read with the Companies (Prospectus and Allotment of Securities) Rules, 2014 (“Securities Rules”) and the Companies (Share Capital and Debentures) Rules, 2014 (“Debenture Rules”). The Ministry of Corporate Affairs recently issued the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2018 (“Amendment Rule”) on 7th August, 2018, which brought out various changes to the rules in relation to issuance of securities under private placement method.>>

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17 Sep 2018

The status of the Home buyers under Insolvency and Bankruptcy Code (IBC) has been puzzling adjudicating authorities. The question was brought to forefront in public interest writ petition filed before Supreme Court[1] seeking relief for home buyers in Jaypee insolvency matter[2].  Apex Court initially granted stay and later directed that resolution plan should protect the interest of home buyers.>>

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07 Sep 2018

The Ministry of Civil Aviation of Government of India on 27th August 2018 issued Civil Aviation Requirements (CAR) for drones announced as Drone Regulations 1.0.  This Requirements would be effective from 1st December 2018.  The purpose of this regulation is to enable safe and commercial usage of civil drones, and is titled “Requirements for operation of civil remotely piloted aircraft systems (RPAS).  The erstwhile position of the Government by a notice dated 7th October 2014 was that Drones were banned.  Thereafter, draft of the drone Requirements was issued by DGCA on 21/04/2016 and thereafter on 01/11/2017.  With this Civil Aviation Requirements, private and commercial operation of drones are legal with a “No permission, no take off” policy.>>

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06 Sep 2018

The genesis of Foreign Portfolio Investor (FPI) can be traced to SEBI (Foreign Portfolio Investors) Regulations, 2014 (FPI Regulations). FPI Regulations consolidated the investments of foreigners in Indian Capital Market which was till then scattered under Foreign Institutional Investors and Qualified Foreign Investor route. The object clause of the FPI Regulations state that it is to put in place a framework for registration and procedures with regard to foreign investors who propose to make portfolio investment in India.>>

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06 Aug 2018

Yet another attempt has been made by the legislative authorities to reduce the number of frivolous cases and expedite the disposal of cases on dishonour of cheques by amending the Negotiable Instruments Act, 1881 (“Act”) to provide interim relief to the genuine/bona-fide complaints. The amendment is an attempt to help trade and commerce in general by allowing lending institutions, including banks, to continue to extend financial support to the productive sectors of economy.>>

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09 May 2018

The Department of Telecommunication has released the Draft National Digital Communications Policy[i] (“The Policy”) on the May 1st 2018, and has invited public comments on the same. This policy aims to accomplish objectives such as broadband for all, creating 4 million additional jobs, enhancing contribution to GDP, achieve better ranking in ICT index, provide digital sovereignty and such other goals by 2022.  In pursuit of India’s transition to a digitally empowered economy and society, the policy envisages following three missions:>>

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04 May 2018

In the wake of the ball-tampering scandal (during the Cape Town Test Match between Australia Vs. South Africa), which left not only Cricket Australia (CA) [the governing body for the game in Australia] but the entire cricketing fraternity in shock, Cricket Australia seems to be determined to make a decisive course correction to prevent recurrence of such incidents. They have announced the setting up of a review paneli to study the behavioral, cultural, organizational and governance aspects of Australian Cricket. The review panel, to be overseen by ex-Australian cricketers Rick McCosker and Peter Collins - Director Australian’s Centre for Ethical Leadership, would also include former players Shane Watson, George Bailey and current leaders Tim Paine and Rachel Haynes. Cricket Australia believes that the panel will be able to identify and recommend actions that would prevent recurrence of such events in future.>>

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