News and Updates Duration August 01, 2021 – August 15, 2021

“What you get by achieving your goals is not as important as what you become by achieving your goals.”

Zig Ziglar

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-2022/624 in relation to imposing monetary penalty on the Noida Commercial Co-operation Bank Ltd. Ghaziabad, Uttar Pradesh. [August 02, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-2022/632 in relation to imposing monetary penalty on Hewlett-Packard Financial Services (India) Private Limited. [August 03, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-2022/673 in relation to imposing monetary penalty on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad, Gujarat. [August 11, 2021] Read more

COMPETITION LAW

  • The FTC has filed an administrative complaint against FleetCor and its CEO, Ronald Clarke, for charging customers hundreds of millions of dollars in mystery fees associated with fuel cards. FleetCor, marketing under the “Fuelman” brand name and through co-branded cards with businesses around the country, falsely advertised to its business customers that they would save money, be protected from unauthorized charges, and have no set-up, transaction, or membership fees but, according to FleetCor’s own records, customers generally have not achieved the advertised per-gallon savings by using FleetCor’s cards. [August 11, 2021] Read more
  • The FTC staff have submitted a comment urging the Board of Governors of the Federal Reserve System to clarify and strengthen the implementation of debit card fee and routing reforms to the Electronic Fund Transfer Act (EFTA) made under the Dodd-Frank Wall Street Reform Act of 2010 (Dodd-Frank). [August 12, 2021] Read more
  • CCI receives notice relating to acquisition of equity stake in PNB Housing Finance Limited by Pluto Investments and Salisbury Investments Private Limited under Green Channel and is deemed approved. [August 04, 2021] Read more
  • CCI approves acquisition by Lighthouse India Fund III, Limited (Fund III) and Lighthouse India III Employee Trust (Lighthouse Employee trust) of Bikaji Foods International Limited. [August 10, 2021] Read more

ENERGY

  • Adani Group to enter petrochemicals business through Adani Petrochemicals Ltd. [August 01, 2021] Read more

NEWS

  • Enforcement Directorate launches Separate Money Laundering Probe. [August 01, 2021] Read more
  • launches India Internet Governance Forum. [August 09, 2021] Read more
  • SC rejects challenge to approval of resolution of Reliance Infratel by operational creditors. [August 10, 2021] Read more
  • NCLT dismisses insolvency resolution withdrawal application of Rolta India Promoters. [August 11, 2021] Read more

Disclaimer “This information has been gathered from various sources. Nothing herein is or may be construed as legal advice”.