SEBI eases preferential issue pricing norms for companies and amends open offer rule
The Securities and Exchange Board of India on 25th June 2020 decided to relax the pricing methodology for preferential issuance of shares and has revised various regulations like SEBI (Prohibition of Insider Trading) Regulations, 2015, The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Securities and Exchange Board of India (Settlement Proceedings)(Amendment) Regulations, 2020.
RBI directs banks and NBFCs to disclose digital lending agent upfront
The Reserve Bank of India vide its notification dated 24th June 202 has directed banks, NBFCs and digital lending platforms to disclose full information upfront on their websites to customers and adhere to the Fair Practices Code guidelines while providing services through digital intermediaries.
DGFT develops a new digital platform for import export code related service
The Directorate General of Foreign Trade has, as a part of the initiative to revamp its service delivery mechanisms to promote and facilitate foreign trade, has launched a new digital platform on 13th July 2020 to provide services related to the IEC issuance, modification, amendments etc.
Ministry of Finance notifies Odisha and Jharkhand real estate regulatory authority as a ‘class of authority’ for income tax relaxations
Odisha and Jharkhand Real Estate Regulatory Authority declared as a ‘class of Authority’ in respect of the following specified income arising to that Authority, namely, Amount received as Grant-in-aid or loan/advance from Government, Fee/penalty received from builders/developers, agents or any other stakeholders as per the provisions of the Real Estate (Regulation and Development) Act, 2016.
Labour Ministry extends public utility service status for defense establishments
Industry of defense to be a public utility service for a further period of six months which will be effective from 24th June 2020.
Central Goods and Services Tax (Removal of Difficulties) Order, 2020
Central Goods and Services Tax (Removal of Difficulties) Order, 2020 has extended the date for filing application for revocation of cancellation of registration for those registered persons who were served notice under Section 29. The period of 30 days for filing application shall be calculated excluding the period till 30 August 2020.
Cut & Polish diamonds can be exported with re-import facility at zero duty
The FTP 2015-20 amended to authorize offices/agencies of laboratories in India to export Cut & Polish diamonds to laboratories listed in the Handbook of Procedures with re-import facility at zero duty within 3 months from date of export.
