MoEFCC appoints Acting Chairperson for NGT

The Ministry of Environment, Forest and Climate Change has notified the authorisation for the functioning of the acting chairperson for the National Green Tribunal. Therefore Mr. Justice Sheo Kumar Singh-I, Judicial Member, National Green Tribunal has been authorised to act as Chairperson of the National Green Tribunal.

New Aadhaar Requirement Introduced for Scheme Benefits

According to the guidelines, individuals desiring to avail benefits under the scheme must possess an Aadhaar number or enroll for Aadhaar before registering for the scheme. Those without an Aadhaar number can visit any Aadhaar enrolment center listed on the Unique Identification Authority of India (UIDAI) website ( to get enrolled.

Regulatory framework for the roles and responsibilities of trustees and the board of directors of asset management companies

Under the amended SEBI (Mutual Funds) Regulations, trustees are mandated to exercise due diligence on specific “core responsibilities.” These include ensuring fairness in fees and expenses charged by AMCs, reviewing AMC performance vis-à-vis peers or benchmarks, preventing mis-selling and increasing asset management integrity, mitigating conflicts of interest, avoiding unfair advantages for associates or group entities, addressing conflicts of interest, and preventing market abuse.

New regulatory framework for sponsors of mutual funds

SEBI circular provide alternative eligibility criteria for mutual fund sponsors and address various aspects related to the deployment of net worth, acquisition of an asset management company (AMC), pooled investment vehicles as sponsors, reduction of stake, disassociation of sponsors, and re-association of sponsors.