Government Seeks Public Comments On Key Changes Proposed To The Insolvency & Bankruptcy Code 2016
On January 18, 2023, Ministry of Corporate Affairs issued a notice inviting comments from public on changes being considered to the Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) aiming to enhance the efficiency of the bankruptcy process and expanding the scope of the framework. Background Prior to the commencement of the Code, the legislative […]
Lok Sabha Passes The Competition Amendment Bill 2022
On 29th March 2023, the Lok Sabha passed the Competition (Amendment) Bill, 2022, which aims to amend the Competition Act of 2002. It includes several key amendments to the existing framework, such as expansion of the scope of cartel prosecution, the introduction of a deal value threshold for mergers and combination, and the modification of […]
Reserve Bank Of India Releases Discussion Paper On Expected Loss– Based Approach For Loan Loss Provisioning By Banks
On January 16, 2023, Reserve Bank of India (“RBI”) released a Discussion Paper (“DP”) that comprehensively examines various issues and proposes a framework for adoption of an expected loss-based approach for provisioning by banks in India. RBI defines a loan loss provision as an expense that banks set aside for defaulted loans. Banks set aside […]
Securities & Exchange Board Of India Further Amends The Securities & Exchange Board Of India (Issue And Listing Of Non-Convertible Securities) Regulations, 2021
On February 2, 2023, the Securities & Exchange Board of India (“SEBI”) notified amendment in the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. The key amendments are as follows: And sub-regulation (7) shall be substituted, namely – The issuer shall simultaneously provide a copy of such notice to the stock exchange(s) where the […]
The Energy Conservation (Amendment) Act, 2022
The Energy Conservation (Amendment) Act, 2022 (“Act”) was notified on December 19, 2022 and aims to reduce India’s power consumption via fossil fuels thereby minimizing the nation’s carbon footprint. The key provisions of the Act are: The amendment seeks to consolidate multiple aspects related to energy transition, efficiency and conservation under one legislation to meet […]
Securities & Exchange Board of India amends listing obligations and disclosure requirement regulations
On January 17, 2023, Securities & Exchange Board of India(“SEBI”)notified significant changes to the Listing Obligations and Disclosure Requirement(“LODR”)regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key changes are as follows:
Government Seeks Public Comments On Key Changes Proposed To The Insolvency & Bankruptcy Code, 2016
On January 18, 2023, Ministry of Corporate Affairs issued a notice inviting comments from public on changes being considered to the Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) aiming to enhance the efficiency of the bankruptcy process and expanding the scope of the framework. Background Prior to the commencement of the Code, the legislative […]