News and Updates Duration July 18, 2021 – July 31, 2021

“The secret of getting ahead is getting started.”

Mark Twain

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-2022/559 in relation to Seven NBFCs which have surrendered their Certificate of Registration to the RBI. [July 19, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/560 in relation to RBI cancelling Certificate of Registration of Four NBFCs. [July 19, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-2022/566 in relation to imposing monetary penalty on Melur Co-operative Urban Bank Ltd., Madhurai District, Tamil Nadu. [July 20, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/575 in relation to launching 13th round survey on Foreign Collaborations in Indian Industry. [July 23, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/589 in relation to imposing monetary penalty on the Balasore Cooperative Urban Bank Limited, Balasore, Odisha. [July 26, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/593 in relation to imposing monetary penalty on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana, Gujarat. [July 27, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/599 in relation to imposing monetary penalty on Alibag Co-operative Urban Bank Limited, Raigad, Maharashtra. [July 28, 2021] Read more
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/601 in relation to imposing monetary penalty on Axis Bank Limited. [July 28, 2021] Read more

COMPETITION LAW

  • The FTC voted in an open Commission meeting to rescind a 1995 policy statement that made it more difficult and burdensome to deter problematic mergers and acquisitions. The 1995 Policy Statement on Prior Approval and Prior Notice Provisions ended the Commission’s longstanding practice of requiring parties that proposed unlawful mergers to receive prior approval and give prior notice for future transactions. [July 21, 2021 Read more
  • CCI approves acquisition by Bajaj Sevashram Private Limited (BSPL), Bachhraj& Company Private Limited (BCOPL), Bachhraj Factories Private Limited (BFPL) and SanrajNayan Investments Private Limited (SNIPL)of Mukand Limited (Target) under Section 31(1) of the Competition Act. [July 20, 2021] Read more
  • CCI receives a notice relating to acquisition of a minority shareholding of approximately 19.36% in Azure Power Global Limited by OMERS Infrastructure Asia Holdings Pte. Ltd. From its existing shareholders under Green Channel and is deemed to be approved. [July 30, 2021] Read More
  • CCI receives a notice relating to the acquisition of certain shareholding in OFB Tech private Limited by SVF II Orca (DE) LLC, under Green Channel and is deemed to be approved. [July 30, 2021] Read more
  • CCI receives a notice relating to Acquisition by Dhampur Bio Organics Limited (DBOL) of certain undertakings of Dhampur Sugar Mills Limited (DSML) under Green Channel and is deemed approved. [July 30, 2021] Read more

ENERGY

  • Reliance to start gas production from MJ filed in October-December 2022. [July 25, 2021] Read more
  • Hitachi ABB Power Grids commissions Raigarh-Pugalur UHVDC link. [July 26, 2021] Read more
  • Indian Oil-Petronas JV to retail petrol, diesel, natural gas. [July 30, 2021] Read more
  • First Solar plans to invest Rs. 5,000 crores to set up solar manufacturing facility in India. [July 31, 2021] Read more

NEWS

  • NCLAT stays Vedanta group’s resolution plan for Videocon. [July 19, 2021] Read more
  • Karnataka High Court junks Amazon-Flipkart plea against CCI probe. [July 23, 2021] Read more
  • SC junks PIL to declare that NCLT cannot act as appellate authority. [July 24, 2021] Read more
  • Lok Sabha passes IBC amendment Bill. [July 29, 2021] Read more

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