The Securities and Exchange Board of India (SEBI) vide circular number SEBI/HO/DDHS/P/CIR/2022/0028 dated 8 March 2022 (Revision Circular), has amended the Operational Circular bearing number SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, in respect of procedures pertaining to issue and listing of non-convertible securities, securitised debt instruments, security receipts, municipal debt sec
The Reserve Bank of India (RBI) on 10 February 2022, vide A.P. (DIR Series) Circular No. 22 (2022 VRR Circular) has increased the investment limit under the Voluntary Retention Route (VRR) for Foreign Portfolio Investors (FPIs) for investment in debt markets in India.
The National Company Law Appellate Tribunal, New Delhi Bench (NCLAT) in Dheeraj Wadhawan v The Administrator, Dewan Housing Finance Corporation Ltd. held that ‘supersession of directors’ under the Reserve Bank of India Act, 1934 (RBI Act) is different from 'suspension of directors’ under the Insolvency and Bankruptcy Code, 2016 (Code), and that a 'superseded director' on the vacation of office pursuant to supersession is neither entitled to the notice of the meeting of the committee of creditors (CoC) nor has a right to participa
The Government of Maharashtra (GoM) has by the Maharashtra Stamp (Amendment) Act, 2021 (2021 Amendment Act) amended Article 6 (Agreement Relating to Deposit of Title Deeds, Pawn, Pledge or Hypothecation), Article 33 (Further Charge), Article 40 (Mortgage Deed), Article 41 (Mortgage of Crop) and Article 54 (Security Bond or Mortgage Deed) of Schedule I of the Maharashtra Stamp Act, 1958 (Maharashtra Stamp Act).
The Reserve Bank of India (RBI) on 14 January 2022 notified the Registration of Assignment of Receivables (Reserve Bank) Regulations, 2022 (Regulation). The Regulation provides clarity in the manner of filing of particulars of assignment transactions with the Central Registry set up under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Central Registry) by the Trade Receivables Discounting System (TReDS).
With the imminent discontinuation of the publication of the London Interbank Offered Rate (LIBOR) by the end of 2021 for most currencies, the Reserve Bank of India (RBI) by its circular dated 8 December 2021 (Circular) amended the RBI’s Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations dated 26 March 2019 (ECB Master Directions) to provide for a risk free benchmark rate as an alternative to the LIBOR (which has been used since inception for majority foreign currency borrowings).
Over the last decade, projects which aim to promote sustainable development by adopting alternative means of achieving a goal without hampering the environment (Green Projects) have gained a lot of popularity. Renewable power companies using renewable sources such as solar and wind as against fossil fuel to generate power, adopting electronic and low carbon means of transport, building green residential homes, recycling, etc. are few of the many examples for Green Projects.
