Guidelines for Prevention and Regulation of Dark Patterns
In a significant move to protect consumers from deceptive online practices, the Central Consumer Protection Authority (CCPA) introduced the Guidelines for Prevention and Regulation of Dark Patterns on November 30, 2023. These guidelines are designed to address the rising concern of deceptive interface designs that manipulate users into making decisions favouring online businesses while undermining […]
Overview of the Bills proposed to replace the Indian Penal Code, 1860, Criminal Procedure Code, 1973 and Indian Evidence Act, 1872
On 11th August 2023, Union Home Minister, Mr. Amit Shah introduced three bills in the Lok Sabha with the aim to overhaul the existing Indian Penal Code, 1860 (“IPC”), Code of Criminal Procedure, 1973 (“CrPC”), and the Indian Evidence Act, 1872 (“Evidence Act”). The notable changes proposed to be made are as follows: The Bharatiya […]
Restrictions on Investments in Alternative Investment Funds by Regulated Entities
In a move to combat the practice of perpetually renewing stressed loans, the Reserve Bank of India (RBI) issued a circular instructing banks, non-banking financial companies (NBFCs), and other lenders to refrain from participating in any alternative investment funds (AIFs) schemes with downstream investments in a debtor company. The term AIF refers to any fund […]
Key Developments in the Electricity Amendment Rules, 2024
The Ministry of Power, New Delhi, issued a significant notification on January 10, 2024, introducing the Electricity (Amendment) Rules, 2024. These rules, enacted under the authority vested in the Ministry by Section 176 of the Electricity Act, 2003, further amend the Electricity Rules, 2005. Key amendments introduced:Rule 21 – Dedicated Transmission Lines: Generating companies, captive […]
Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2024
On February 12, 2024, the Insolvency and Bankruptcy Board of India (“IBBI”) notified the following regulations to further amend the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. Regulation 2B Amendment: The liquidator is now required to file the proposal of compromise or arrangement only if recommended by the committee under regulation 39BA […]
The Ministry of Power amends Electricity Rules for Electric Vehicle Charging
In a significant development, on February 22, 2024, the Ministry of Power issued a notification to amend the Electricity (Rights of Consumers) Rules, 2020. The key amendments introduced are as follows: Reduced Waiting Period: Under the updated regulations, the waiting time for securing a new connection has been streamlined. The maximum time for providing new […]
Pioneering AI Regulation: The Roadmap of India’s Artificial Intelligence Act
India’s stance on regulating artificial intelligence (AI) is a dynamic process, evolving in tandem with global developments while addressing domestic challenges. The Ministry of Electronics and Information Technology (MeitY) has articulated its intent to regulate high-risk AI applications, emphasizing user protection, potentially through dedicated rules within the proposed Digital India Act. However, the enactment of […]
Navigating Corporate Insolvency and Restructuring: Strategies for Distressed Companies in India
In recent years, the landscape of corporate insolvency and restructuring in India has witnessed significant evolution. With the implementation of the Insolvency and Bankruptcy Code (IBC) and subsequent legal amendments, distressed companies face both challenges and opportunities. In this article, we explore the recent news, trends, and legal amendments shaping the strategies for distressed companies […]