In a significant move to propel growth India's space sector, the Government of India and the Indian National Space Promotion and Authorization Centre (IN-SPACe), on May 4, 2024, released the Norms, Guidelines, and Procedures for implementation of the Indian Space Policy – 2023 (Policy) in respect of authorization of space activities (NGP).
For quite some time now, the company law administration in India has been issuing standard and generic email advisories for compliance with significant beneficial ownership (SBO) provisions under the Companies Act, 2013 (Companies Act) and the Companies (Significant Beneficial Owners) Rules, 2018 (SBO Rules) (as mentioned previously in our Ergo).
The Guidelines on Regulation of Payment Aggregators and Payment Gateways, 2020 (PA Guidelines) issued by the Reserve Bank of India (RBI) sets out a regulatory framework for online payment aggregators and prescribes authorisation requirements for such entities under the Payment and Settlement Systems Act, 2007.
Amendments to the LODR last year, by way of SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 (2023 Amendment) to the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) 2015 (LODR) marked a paradigm shift in the disclosure requirements for listed entities.
The Securities and Exchange Board of India (SEBI) recently amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) by way of SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2024 (LODR Amendment) dated 17 May 2024.
On 9 April 2024, the Ministry of Electronics and Information Technology (MEITY) amended the Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2021 (CRO 2021). Under the amendment, MEITY has mandated certain ‘essential security requirements’ for Closed-Circuit Television (CCTV) cameras (CRO Amendment).
Owing to the mushrooming of passive funds in the past decade coupled with concerns regarding conflict of interest and governance of indices and the fact that market indices are often seen as the barometer of economic growth, it is prudent to govern index providers.
On 29 January 2024, the International Financial Services Centres Authority (IFSCA) notified the International Financial Services Centres Authority (Payment Services) Regulations, 2024 (PS Regulations) with the intention of governing and regulating payment services in International Financial Services Centres (IFSC).
The Ministry of Information and Broadcasting (MIB) issued an advisory dated 21 March 2024 to endorsers and influencers on social media, social media intermediaries and online advertisement intermediaries regarding surrogate advertisements of offshore online betting and gambling platforms (Advisory).
The Ministry of Heavy Industries (MHI) notified a new scheme, ‘Scheme to Promote Manufacturing of Electric Passenger Cars in India’ (Scheme) on 15 March 2024 that incentivizes global original equipment manufacturers (OEMs) to ‘make in India’ electric 4-wheeler vehicles (e-4W) and access the third largest auto market.
