Recently, the Securities and Exchange Board of India (“SEBI”) announced amendments to the Listing obligations and Disclosure Requirements (“LODR”). An insight into the same.
Edition 94 • July 2023
Soft Landing
A near “all women” show, with a team of 53 brilliant women scientists and “Vyommitra” a female looking humanoid robot on board the satellite, India is hoping for lady luck to favour in launching Chandrayaan 3. Physical modifications and amendments were carried out before launching Chandrayaan 3. Similarly, amendments/ modifications have been carried out by SEBI to its listing and disclosure requirements for better regulation and control of listed entities on stock exchanges.
Insights
Impact of Commercialization of Artificial Intelligence on Intellectual Property Rights
The quantum of data produced by the human mind and automated systems far surpasses the human capacity to comprehend, analyze and make intricate decisions using that data. However, Artificial Intelligence (AI) has no trouble in processing this large chunk of data and perhaps represents the future of intricate decision-making processes.
Tête-à-tête
Sandhya and Subathra engage in a Tete a Tete on sedition – a controversial law that has existed since 1870.
IBC Cases
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
What's Brewing
Aircraft Bill 2023
Recently, the Ministry of civil aviation invited comments from stakeholders and public on the proposed Aircraft Bill 2023. A look at the salient features of the proposed Bill.
Circulars & Notifications
The latest set of circulars and notifications brought out by the MCA, FEMA, SEBI & RBI.
Circulars
Nil
Notifications
Nil
Circulars
Nil
Notifications
6th June 2023
Risk Management and Inter-Bank Dealings - Non-deliverable
derivative contracts (NDDCs)
7th June 2023
Expanding the Scope of Trade Receivables Discounting System
8th June 2023
Reserve Bank of India (Call, Notice and Term Money Markets)
Directions, 2021-Review
8th
June 2023
Rationalization of Branch Authorization Policy for Urban
Co-operative Banks (UCBs)
8th
June 2023
Framework for Compromise Settlements and Technical Write-offs
8th
June 2023
Guidelines on Default Loss Guarantee (DLG) in Digital Lending
14th
June 2023
Agency Commission for collection of indirect taxes through
ICEGATE payment gateway
15th
June 2023
Sovereign Gold Bond (SGB) Scheme 2023-24
22nd
June 2023
Remittances to International Financial Services Centres (IFSCs)
under the Liberalised Remittance Scheme (LRS)
23rd
June 2023
Status of MIFOR as a Significant Benchmark
26th
June 2023
Master Direction on Minimum Capital Requirements for Operational
Risk
Circulars
1st June 2023
Master Circular on Electronic Gold Receipts (EGR)
2nd
June 2023
Transactions in corporate bonds through Request for
Quote platform by Stock Brokers (SBs)
8th June 2023
Online processing of investor service requests and
complaints by RTAs
8th
June 2023
Participation of Mutual funds in repo transactions on
Corporate Debt Securities
8th
June 2023
13th June 2023
Regulatory framework for Execution Only Platforms for
facilitating transactions in direct plans of schemes of Mutual Funds
13th June 2023
Corrigendum to Circular on Participation of Mutual
funds in repo transactions on Corporate Debt Securities dated June 8, 2023
13th June 2023
Amendment to Circular on issue of Certified copies of
Orders and Circulars
15th June 2023
Master Circular for Research Analysts
15th June 2023
Master Circular for Investment Advisers
20th June 2023
Master Circular on Scheme of Arrangement
21st June 2023
Master Circular for Issue of Capital and Disclosure
Requirements
21st
June 2023
Trading Preferences by Clients
21st
June 2023
Issuance of units of AIFs in dematerialised form
21st
June 2023
Modalities for launching Liquidation Scheme and for
distributing the investments of Alternative Investment Funds (AIFs) in-specie
21st
June 2023
Standardised approach to valuation of investment
portfolio of Alternative Investment Funds (AIFs)
23rd
June 2023
Trading Supported by Blocked Amount in Secondary
Market
26th
June 2023
Format for Annual Secretarial Compliance Report for InvITs
26th
June 2023
Format for Annual Secretarial Compliance Report for
REITs
26th
June 2023
Format of Compliance Report on Governance for REITs
26th
June 2023
Format of Compliance Report on Governance for InvITs
26th
June 2023
Investor Service Centres of Stock Exchanges
27th
June 2023
Manner of achieving minimum public unitholding – InvITs
27th
June 2023
Manner of achieving minimum public unitholding –
REITs
27th
June 2023
Disclosure of Information on Issuers Not Cooperating
(INC) with CRAs
30th
June 2023
Notifications
21st
June 2023
Circulars
Notifications
15th
June 2023
Notification under Section 14(3)(a) of IBC for contracts
under Oilfields (Regulation and Development) Act, 1948
Circulars
28th June 2023
30th
June 2023
Notifications
7th June 2023
12th June 2023
12th
June 2023
12th
June 2023
14th
June 2023
14th
June 2023
15th
June 2023
21st
June 2023
23rd
June 2023
23rd
June 2023
26th
June 2023
Circulars
Nil
Notifications
Nil
Circulars
3rd June 2023
14/2023 - Electronic Repairs Services Outsourcing (ERSO) – initiation of pilot
at ACC Bengaluru- reg.
7th June 2023
15/2023 - Mandatory additional qualifiers in import/export declarations in
respect of certain products wef 1.7.2023 -reg
7th June 2023
16/2023 - Implementation of Honourable Supreme Court direction in judgement
dated 28.04.2023 in matter of Civil Appeal No. 290 of 2023 relating to
pre-import condition
15th June 2023
17/2023 - Implementation of Honourable Supreme Court direction in judgement
dated 28.04.2023 in matter of Civil Appeal No. 290 of 2023 relating to
pre-import condition
30th June 2023
18/2023 - Mandatory additional qualifiers in import/export declarations in
respect of certain products wef 1.7.2023 -reg
Notifications
A. Tariff
14th June 2023
39/2023-Customs - Seeks to further amend 48/2021-Customs dated
13.10.2021 to reduce BCD on Refined Soya Bean Oil and Refined Sunflower oil to
12.5%
30th June 2023
40/2023 - Seeks to increase the standard tariff for LPG in 1st Schedule
of Customs Tariff Act, 1975
30th June
2023
41/2023 - Seeks to amend notification no. 50/2017-Customs dated 30.06.2017 to
prescribe BCD rate for LPG
30th June
2023
42/2023 - Seeks to amend notification no. 11/2021-Customs dated 01.02.2021 to
prescribe AIDC Rate for LPG
B. Non-Tariff
1st June 2023
39/2023-Customs (NT) - Exchange rate Notification No. 39/2023-Cus (NT) dated
01.06.2023-reg
7th June 2023
40/2023 Customs (NT) - Exchange Rate
Notification No. 40/2023 (Amended)- Reg
8th June 2023
41/2023 Customs (NT) - Exchange Rate
Notification No. 41/2023 - Reg
12th June 2023
42/2023 Customs (NT) - Exchange Rate
Notification No. 42/2023 (Amended)- Reg
15th June 2023
43/2023 Customs (NT) - Courier Imports
and Exports (Electronic Declaration and Processing) (Second Amendment)
Regulations, 202
15th June 2023
44/2023 Customs (NT) - Exchange Rate
Notification No.44/2023-Cus (NT) dated 15.06.2023-REG.
15th June 2023
45/2023 Customs (NT) - Fixation of Tariff
Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.
23rd June 2023
46/2023 Customs (NT) - Exchange Rate
Notification No.46/2023-Cus (NT) dated 23.06.2023-REG.
30th June 2023
47/2023 Customs (NT) - Fixation of Tariff
Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.
30th June 2023
48/2023 Customs (NT) - Amendment of
Notification No.19/2022 Customs (NT) dated 30.03.2022
30th June 2023
49/2023 Customs (NT) - Amendment of
Notification No.18/2023 Customs (NT) dated 30.03.2023
Anti-Dumping Duty
9th June 2023
06/2023-Customs (ADD) - Seeks to amend notification No. 31/2022-Customs (ADD)
dated 20.12.2022 in order to change the name of the producer viz. “Zhejiang Tsingshan Steel Pipe Co., Ltd.” to “Tsingshan
Steel Pipe Co., Ltd”, in pursuance of DGTR recommendation.
The Verdict
Maintenance for Formerly Employed Wife
Recently, the Karnataka High Court ruled that a wife who was previously employed cannot sit idle and expect to receive the entire maintenance amount from the husband. A look at the highlights of the judgment.
Apex Rulings
Supreme Court judgments that have profound bearing on the society.
Go Figure
Securities and Exchange Board of India: Statistics Related to It
SEBIs multi-dimensional investigation into various aspects of a company.
Lawtitude
The EU’s New Soil Health Monitoring Law
Recently, the European Commission (EC) has proposed a new law in order to deal with the health of soils to ensure that the soils are healthy. This Law has been proposed with the aim of achieving climate neutrality, a clean and circular economy, and stopping desertification and land degradation.
Legal-ease
Legal words that are not as difficult as they sound. Learn their meaning. Use them right!
Gratuitous
Not involving a return benefit, compensation, or consideration
Desuetude
A doctrine holding that a statute may be abrogated because of its long disuse
Filibuster
The use of extreme dilatory tactics in an attempt to delay or prevent action especially in a legislative assembly
Esquire
Used as a title of courtesy for lawyers usually placed in its abbreviated form after the name and capitalized
Infographic
The Maritime Anti-Piracy Act, 2022
India is member / signatory to convention on laws of the sea and seeks to repress piracy on high seas through the Maritime Anti-Piracy Act 2022.
Lawlipop
Important legal and other news having a bearing on society depicted in a fun quirky way!
A steal deal?!
Theft on train not deficiency in service
Frivolous PILs?
SC imposes cost
(P)Review
Your regular dose of a movie, TV show and a book all based on law to keep you entertained and thinking at the same time!
Movie
No One Killed Jessica (Hindi) (2011)
The movie is based on real life incident. In 1999, Jessica Lall, working as part time bartender in a Delhi night club was shot and murdered at point blank range by the son of a politician. The reason: her refusal to serve Manu Sharma and his friends drinks beyond the club timings. Jessica’s family filed a case and Manu, and his friends were arrested. However, money and muscle power ruled. From replacing/ destroying evidence (the bullets) to witnesses turning hostile, courts cited lack of sufficient evidence and inability of police to sustain its grounds. It acquitted Manu and his friends in February 2006. There was public uproar and outrage at his acquittal and hence the case was immediately reopened. In December 2006, Manu Sharma was found guilty and sentenced to life imprisonment while his friends were sentenced to rigorous imprisonment. These incidents were captured poignantly in the movie with brilliant performances by Vidya Balan playing Sabrina Lall, the sister of Jessica Lall and Rani Mukerji playing a journalist who takes interest in the case. The story is a grim reminder of how law can be used effectively and misused blatantly.
Book/Novel
The Truthful Witness by James Chandler (2023)
The fifth of the 6 series novels revolving around fictional lawyer Sam Johnstone, the latest novel is based on Sam’s reluctant re-entry to the legal field. When Sam’s friend is accused of murder, Sam who retreats to enjoy the peace and calm of small-town Wyoming must defend him. The catch: his friend confesses to the murder. Additionally, he must argue before a judge with whom he has ethical differences. How Sam defends the friend and unravels the truth forms the rest of the story.
TV Series
Partner Track (2022)
Streaming on Netflix, the series is a legal drama based on the aspirations of its central character Ingrid Yun an M&A lawyer keen to rise to the top spot of the law firm she works with. In doing so, she encounters a battle between her ethics, ideology and the need of the situation.
The Art of Knowing is Knowing What to Ignore - Rumi
Readers' Corner
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