RBI tightens norms for acquisition of financial assets by Asset Reconstruction Companies
RBI restricts asset reconstruction companies from buying assets of a bank or a financial institution which lends to, subscribes for fund raised by, sponsors or belongs to same group of the ARC.
MOEFC has brought in new standards of emission for iron and steel plant
The Draft Environment (Protection) Amendment Rules, 2019 has brought changes under Schedule 1 relating to standards for emission or discharge of environmental pollutants. The standards of emission for iron and steel plant has been substituted with new standards.
FSSAI have published a Notification dated 9th December 2019 removing the Total soluble solid parameters to reduce sugar formulations.
The FSSAI have published a Notification dated 9th December 2019 removing the Total soluble solid parameters in the Food Safety and Standards ( Food Products Standards and food Additives), Regulations to reduce sugar formulations.
SEBI Alters the provision for filing offer document through amendment of ICDR Regulations
The new Amendment to ICDR Regulations substituted The Schedule IV, which deals with filing of offer document with lead manager upon issue, with a new schedule.
The Schedule no longer provide estimated size and corresponding jurisdictions to make filings, but vests the same to be decided by the Board from time to time. This increase the flexibility and discretion of the Board in deciding the jurisdiction of authorities for filing.
FSSAI Revises standards for milk products by amending the Food Products Standards and Food Additives Regulations
the Food Safety and Standards (Food Products Standards and Food Additives) Fifth Amendment Regulations, 2019 provides new standards for milk products and Food Business Operators shall comply with all the provisions of these regulations by July 01, 2020.
RBI Issues final norms for on-tap licensing of small finance banks
In a major development for Small Finance Banks in the Private Sector, the Reserve Bank of India has issued guidelines for ‘on tap’ licensing. The move comes after a review of the performance of the existing small finance banks, which were granted in-principle approval in 2014.
CDSCO directs all drug manufactures to upload every information about their licenses and approved products on SUGAM portal
New CDSCO guidelines directs every firm to do self-registration with valid email by submitting registration form. Once registered, they shall proceed with the process of uploading of data regarding license and products.
Healthcare professionals and clinicians to report every medical devices adverse event they encounter to MVPI-Indian Pharmacopoiea commission
The Central Drugs standard control organisation vide Notification dated 26th November 2019 has directed every state drug controller to advice every clinicians and other healthcare professional to mandatorily report about medical devices adverse event to Materiovigilance Programme of India (“MvpPI”).
CBIC Specifies 8 enactments to which the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 is applicable
The Central Board of Indirect Taxes has specified eight enactments to which the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 is applicable. The scheme aims to help taxpayers, in clearing the baggage of disputes under legacy taxes (Service Tax and Central Excise), which are subsumed in Goods and Service Tax.
CBIC Issues order to remove difficulties in filing appeal before the Appellate Tribunal
The Central Board of Indirect Taxes(CBIC) and Customs, to remove the difficulties in filing appeal within the stipulated period, has established new commencing dates for calculating the limitation period for appeal.
