NEWS & UPDATES
August 5, 2020

LABOUR LAW ORDINANCE 2020

On account of the economic impact of COVID-19, the Karnataka state government notified an ordinance on July 31, 2020, amending three major labour law legislations. Industrial Disputes Act, 1947 • Sections 25K (1) and (1A) – no prior permission of the state government will be needed to lay off or retrench, or close an industry,…

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August 4, 2020

NEERAV MERCHANT DISCUSSES WITH INDIA MEDIA MONITOR ON A ONE-TIME LOAN RECAST POLICY AND ITS CONSEQUENCES

Neerav Merchant, Partner at Majmudar & Partners, shares his views with India Media Monitor – Business Standard along with other industry experts on a one-time loan recast policy and its consequences. Read the article here.

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July 31, 2020

IRDAI ISSUED AN IMPORTANT CLARIFICATION ON THE ASPECT OF TRANSFER AND ISSUANCE OF SHARES IN INSURANCE COMPANIES

Last week, the Insurance Regulatory and Development Authority of India (IRDAI) issued an important clarification on the aspect of transfer and issuance of shares of insurance companies. The key takeaway is that if a shareholder exceeds the 1% or 5% (as the case may be) threshold of share acquisitions over multiple transactions in a financial…

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July 30, 2020

NATIONAL EDUCATION POLICY ANNOUNCED ON JULY 30, 2020

As a part of the National Education Policy announced on 30th July,2020 a new law will be introduced to facilitate top foreign universities to set-up in India. The law will provide special dispensations to foreign universities from a regulatory, governance and content standpoints. While 100% FDI is permitted in the education sector for many years…

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SEBI EXTENDS RELAXED NORMS UNTIL DECEMBER 31, 2020

In May, the Securities and Exchange Board of India (SEBI) had relaxed requirements for issuance of open offers and buy-back tender offers through electronic transmission until July 31. The SEBI has now extended these relaxed norms until December 31. In addition, the timeline for submission of financial results as of June 30 has been extended…

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July 28, 2020

SEVERAL PROVISIONS OF INDIA’S NEW CONSUMER PROTECTION ACT, 2019 CAME INTO FORCE ON JULY 20, 2020

Several provisions of India’s new Consumer Protection Act, 2019 came into force on July 20, 2020. The remaining provisions came into effect on July 24, 2020. These mainly deal with: liability of endorsers; unfair trade practices in e-commerce; and establishment of the Central Consumer Protection Authority. Penalties for false or misleading advertisements will now be…

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July 24, 2020

NEERAV MERCHANT SPEAKS ON DUFF & PHELPS COURT CASE AGAINST IBBI

The Indian arm of the American financial consultancy firm, Duff & Phelps, has dragged the Insolvency & Bankruptcy Board of India (IBBI) to court, over an order involving the company and a senior adviser in its restructuring practice. Our Partner and Disputes head, Neerav Merchant, weighs in with his thoughts on the matter. Read the…

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July 20, 2020

AMRIT MEHTA TALKS ABOUT INDIA’S DIGITAL SECTOR PICKING UP DUE TO COVID-19

India’s digital sector is accelerating faster than ever before as the coronavirus pandemic forces businesses across all sectors to ramp up online solutions for customers, resulting in a flurry of high-profile investment deals, according to analysts. Amrit Mehta, Partner at Majmudar & Partners, shares his views with The National UAE along with other esteemed speakers…

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July 9, 2020

GOVERNMENT OF INDIA ISSUES A NOTIFICATION REGARDING SOVEREIGN WEALTH FUNDS AND GLOBAL PENSION FUNDS

In order to boost foreign investment in India’s infrastructure sector, the government has issued a notification that, effective from April 1, 2021, sovereign wealth funds and global pension funds will be fully exempt from tax in respect of their incomes arising from interest and dividend, and capital gains arising from their investments in India. Reports…

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BLOOMBERG QUINT FEATURES RUKSHAD DAVAR’S VIEWS ON SEBI’S AMENDMENT OF THE INVESTMENT ADVISERS REGULATIONS

Securities and Exchange Board of India (SEBI) has amended the Investment Advisers Regulations, setting a tone for a reform that may change business dynamics for these entities. Our Partner and Head of M&A, Rukshad Davar shares his views with Bloomberg Quint on this move along with other industry experts. Read the article here.

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