18 May 2021
This newsletter covers recent key updates in Indian corporate laws relating to banking law, competition law and developments under securities laws. In particular, we have covered:
(a) Circular and Guidelines issued by the Reserve Bank of India (“RBI”) on:
(i) Corporate Governance in Banks – Appointment of directors and constitution of committees of the board; and
(ii) Appointment of Statutory Central Auditors or Statutory Auditors of Commercial Banks, Urban Cooperative Banks and Non-Banking Finance Companies (including Housing Finance Companies);
(b) Delhi High Court’s Judgment in the case of WhatsApp LLC & Facebook Inc. v Competition Commission of India; and
(c) Circulars issued by the Securities and Exchange Board of India (“SEBI”) on:
(i) Reporting Formats for Mutual Funds;
(ii) Procedural Matters – Issues and Listing;
(iii) Alignment of Interest of Key Employees of Asset Management Companies with the Unit Holders of Mutual Fund Schemes;
(iv) Relaxation on Timelines for Compliance with Regulatory Requirement Trading Members or Clearing Members or Depository Participants or Know-Your-Customer Registration Agencies;
(v) Further Relaxation in Adherence to Prescribed Timelines issued by SEBI due to CoVID – 19 dated 13 April 2020;
(vi) Relaxation from Compliance with certain provisions of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 due to CoVID-19 pandemic; and
(vii) Relaxation of Timelines for Updating Scheme Information Documents and Key Information Memorandum of Mutual Fund Schemes.
Click here to read more. (Pdf 8 Pages)
For further information, please contact:
Souvik Ganguly, Partner, Acuity Law
al@acuitylaw.co.in
