Ergo Update

With an aim to bring in gender parity among factory workforce and create more employment opportunities for women, the Karnataka legislature passed the Factories (Karnataka Amendment) Bill, 2023 (2023 Amendment) to amend the Factories Act, 1948 (Factories Act) in its application to the state of Karnataka. The said amendment also brings about a change in the provisions relating to daily working hours, interval for rest and extra wages for overtime work under the Factories Act.

While the SEBI (Real Estate Investment Trusts) Regulations, 2014 (REIT Regulations) and SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvIT Regulations) prescribed certain corporate governance requirements such as independence of atleast half of the board of directors of the investment manager of Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs, together with InvITs, referred to as the Trusts), etc., there was a lacuna in the

In India, pesky ‘spam’ calls and messages are an increasing menace. According to various news reports and surveys, a significant portion of users in India are vulnerable to such telemarketing activities on a daily basis.

In a significant development, a three judge bench of the Supreme Court of India, by way of its order in Jalan Fritsch Consortium v Regional Provident Fund Commissioner and Another [Civil Appeal Number 407 of 2023], upheld the judgment of the National Company Law Appellate Tribunal (NCLAT) in the matter of Jet Aircraft Maintenance Engineers Welfare Association v Ashish Chhawchharia, Resolution Professional of Jet Airways (India) Limited and Others [Company Appeal (AT) (Insolvency) Number 752 of 2021], whereby Jalan Fritsch consortium (Succ

The Securities and Exchange Board of India (SEBI) vide its circular dated 3 February 2023, has updated its ‘Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) / Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules framed thereunder’ (Guidelines).

In contrast to traditional advertising (which would typically take place through television commercials, radio or print advertisements), advertisements in today’s day and age come in different shapes and forms. In this age of social media, users are vulnerable to covert advertisements and masked endorsements by celebrities and influencers who are promoting certain goods and services without the appropriate disclosures.

The Securities and Exchange Board of India (SEBI), through its circular dated 10 January 2023, has notified the ‘Comprehensive Framework on Offer for Sale (OFS) of Shares through Stock Exchange Mechanism’ (Circular), which modifies the earlier set of guidelines originally introduced on 18 July 2012. The said guidelines have been modified from time to time with the last significant updates made in December 2018.

On 26 July 2017, the National Company Law Tribunal New Delhi (NCLT) passed an order admitting M/s Bhushan Steel Limited (Corporate Debtor) into corporate insolvency resolution process (CIRP), pursuant to a Section 7 application filed by the State Bank of India (SBI) under the Insolvency and Bankruptcy Code, 2016 (Code).  Tata Steel Limited (TSL) emerged as the successful resolution applicant with its proposed resolution plan being approved by the Committee of Creditors (CoC) of the Corporate Debtor on 20 March 2018.

A ‘National Hydrogen Mission’ was first conceptualised in the Union Budget of 2021. Later in the Independence Day speech, the Hon’ble Prime Minister formally announced the launch of National Hydrogen Mission. Following which the Ministry of Power on 17 February 2022 issued a Green Hydrogen Policy.