Ministry of Law and Justice has issued the Draft Mediation Bill for Public Consultation
The draft Bill proposes for pre-litigation mediation and at the same time safeguards the interest of the litigants to approach the competent adjudicatory forums/courts in case an urgent relief is sought and the successful outcome of mediation in the form of Mediation Settlement Agreement (MSA) has been made enforceable by law.
SEBI permits FPIs to write off debt securities.
In view of the requests received from various stakeholders, SEBI has now been decided to permit the FPIs to also write off all debt securities in their beneficiary account which they are unable to sell for any reason.
SEBI directs debenture trustees to disassociate from undertaking activities related to unregulated products.
It has come to the notice of SEBI that some registered debenture trustees are undertaking activities related to unregulated products such as acting as a trustee for digital gold. Undertaking activities related to unregulated products such as digital gold is not in accordance with the provisions of Section 12(1) of the SEBI Act, 1992 read with the SEBI (Debenture Trustees) Regulations,1993.
RBI permits FPIs to invest in debt securities issued by InvITs and ReEITs.
The union budget 2021-2022 announced that debt financing of Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) by Foreign Portfolio Investors (FPIs) will be permitted by amending the applicable legislation. Accordingly, it has been decided to permit FPIs to invest in debt securities issued by InvITs and REITs.
Report of RBI Committee on functioning of Asset Reconstruction Companies
Any acquisition of management/ trusteeship of a financial asset by an ARC from another ARC must have the approval of a majority, by value, of the SR holders concerned or such other prescribed threshold as may be defined by the subscription agreement / trust deed.
DGFT allows import of Technical Grade Urea (TGU) for non-agricultural/ industrial/ NPK Manufacturing use to be Free
Import of Urea is allowed through National Fertilizers Limited (NFL) and Indian Potash Limited (IPL) subject to Para 2.20 of Foreign Trade Policy, 2015-2020. The NFL and IPL are designated as STE for import of Urea on Government account. However, IPL is allowed to import Urea on Government account till 31.03.2022 only. Henceforth, the MMTC and STC are de-notified as STE for import of Urea.
Food Safety and Standards(Food Products Standards and Food Additives) Fourth Amendment Regulations, 2021
The amendment provides that in case of formulated Supplements for Children, a variation of minus 10.0 per cent from the declared value of the nutrients or nutritional ingredients on the label shall be allowed and the nutrient levels shall not exceed maximum limits as specified in the composition tables.
Food Safety and Standards (Import) First Amendment Regulations, 2021
No FSSAI inspection shall be required for foreign FBOs in case of such categories of food that are covered under mandatory Bureau of Indian Standards Certification Mark Scheme and where the Bureau of Indian Standards scheme of inspection includes the requirements specified under Schedule 4 of the Food Safety and Standards (Licensing and Registration of Food Businesses) Regulations, 2011.
Revised procedure for FDI in the Telecom Sector
As per the amendment 100% FDI is allowed in the telecom sector under automatic route. It is further provided that FDI from entities from a country that shares land border with India shall be through government route.
Mineral (Auction) Third Amendment Rules, 2021
The amendment provides that the State Government shall charge simple interest at the rate of Twelve percent per annum (instead of previous rate of twenty four percent) on any payment due to State Government under these rules the payment of which is delayed beyond the due date thereof.
