Regulatory Updates Insurance Surety Bonds for Mobilization Advance in EPC Contracts for road projects The Ministry of Road Transport and Highways has, vide circular dated 2 January 2025, provided that Insurance Surety Bonds shall be accepted as security for mobilization…
Regulatory Updates RBI Directions on Credit Information Reporting The Reserve Bank of India ("RBI") has, vide notification dated 6 January 2025, notified the Master Direction on Credit Information Reporting Directions, 2025. These directions consolidate the prior instructions of RBI in…
Enforcement Matters Supreme Court provides clarity on when to approach the CCI during Insolvency and Bankruptcy proceedings On 29 January 2025, while dealing with an appeal filed by Independent Sugar Corporation Limited (“INSCO”) which challenged veracity of the procedure followed…
Regulatory Updates Implementation of Credit Information Reporting Mechanism after cancellation of licence or Certificate of Registration On 10 October 2024, the Reserve Bank of India ("RBI") issued a circular addressing the credit information reporting mechanism for entities whose license or…
Regulatory Updates Press Release on Information Security, 2024 The Insurance Regulatory and Development Authority of India ("IRDAI") issued a press release on 18 October 2024 in relation to recent reports of data leaks from two insurers. The IRDAI stated that…
Regulatory Updates Scheme of Central Financial Assistance towards equity participation by State Governments for Hydro Electric Projects in the North Eastern Region On 8 October 2024, the Ministry of Power approved the scheme of Central Financial Assistance ("CFA") for equity…
Enforcement Matters NCLAT dismisses the appeal filed by the Travel Agents Association of India On 25 October 2024, the NCLAT upheld the CCI's dismissal of the case instituted against Department of Expenditure, Government of India ("DOE") and others by the…
Regulatory Updates Reduction in denomination of debt securities and non-convertible redeemable preference shares SEBI has, vide circular dated 3 July 2024, amended Chapter V (Denomination of issuance and trading of non-convertible securities) of the Master Circular for Issue and Listing…
Regulatory Updates Prevention of Money-Laundering (Maintenance of Records) Amendment Rules, 2024 The IRDAI has introduced certain amendments to the Prevention of Money-Laundering ("Maintenance of Records") Rules, 2005 ("PML Rules"). The amendments introduced by the IRDAI include the following: (i) for…
Regulatory Updates NHAI Circular on Bid Security and Performance Security National Highways Authority of India ("NHAI") has, vide circular dated 1 July 2024, notified that the bid security and performance security in relation to national highway works will now also…
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