The Securities and Exchange Board of India (SEBI) plays a crucial role in regulating and developing the securities market in India. One of SEBI's key responsibilities is ensuring fair and transparent practices in securities listing and trading. To fulfil this objective, SEBI periodically updates and strengthens its regulations.
The Securities and Exchange Board of India (SEBI) recently amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) by way of its notification dated 14 June 2023 has notified SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 (LODR Amendment). The LODR Amendment comes riding on the back of consultation papers issued by SEBI in the past, recommendations of which were recently approved for amendment in the SEBI board meeting.
Until this month, there appeared to be limited visibility as regards the implementation of the labour code regime. While the Code on Social Security, 2020 (SS Code) received the assent of the President of India on 28 September 2020, the enforcement of the new legislative framework remained uncertain, barring the provision for identifying the beneficiaries under the SS Code through Aadhaar.
Through an interim order, the Kerala High Court has opined on the requirement of producing copies evidencing exercise of joint option under Paragraph 26(6) of the Employees’ Provident Funds Scheme, 1952 (EPF Scheme) for the purpose of exercise of joint option for higher pension benefits under the Employees’ Pension Scheme, 1995 (EPS Scheme) pursuant to the ruling of the Supreme Court of India in Employes’ Provident Fund Organisation (EPFO) and Another v Sunil Kumar and Others [AIR 2022 SC 5634] (SC Ruling).
The (Indian) Competition Act, 2002 (Act), was enforced in a staggered manner between 2009 and 2011. Ever since, while the subordinate regulations were amended from time to time, the Act itself remained unamended.
The Ministry of Consumer Affairs, Food & Public Distribution had issued a press release on 4 March 2023 (Press Release) prohibiting the sale of hallmarked gold jewellery or gold artefacts without the 6 (six) digit alphanumeric Hallmark Unique Identification (HUID) number after 31 March 2023. The HUID is an unique identification code which offers distinct identity to each gold item/article.
After the recent announcements announced by the Insurance Regulatory and Development Authority of India (IRDAI), India’s insurance sector is set to undergo further significant changes. The IRDAI has introduced the following new regulations aimed at offering insurers flexibility in managing their expenses and promoting ease of doing business
The Foreign Trade Policy 2015-20 had multiple extensions till 31 March 2023, owing to the COVID-19 pandemic and the unstable geo-political situation. The new Foreign Trade Policy 2023 (FTP 2023) which was released on 31 March 2023 aims to ensure policy continuity and subsequent revisions will be made, as necessary, without linkage to any specific date.
On 20 October 2022, the Competition Commission of India (CCI) had imposed a penalty of INR 1,337.76 crore (~USD 162 million) on Google for abusing its dominant position in multiple markets by mandating original equipment manufacturers (OEM) to pre-install Google’s suite of applications (GMS Suite) as a pre-requisite for accessing the Android Operating System (OS).
In the year 2022, the Indian Government proposed the enactment of a comprehensive Digital India Act (DIA) to provide global and contemporaneous legal standards for catering to India’s evolving digital ecosystem.
