Adv. Harjeet Singh

New Delhi, The Reserve Bank of India (RBI) issued a compounding order, on February 10, under the Foreign Exchange Management Act, 1999 (FEMA), in the case of Metrocorp Infrastructure Limited, which has resulted in termination of adjudication proceedings against the company for contraventions of provisions of the law, according to an official statement issued on […]

India’s market regulator Sebi has introduced a simplified certification requirement for certain employees associated with research services, in a move aimed at improving ease of doing business in the securities market. The regulator said on Wednesday that staff involved in sales and other non-core activities related to research services will now be allowed to obtain

RBI issues new rules on how banks can distribute dividends, links payouts to capital strength The Reserve Bank of India (RBI) on Tuesday issued updated prudential norms governing dividend declaration and profit remittance by banks, tightening the framework to ensure payouts remain aligned with capital strength and asset quality. The new directions apply to commercial

Cabinet gives nod for amendments to Insolvency and Bankruptcy Code New Delhi, The Union Cabinet has given its approval for amendments to the Insolvency and Bankruptcy Code, potentially clearing the way to introduce the IBC Amendment Bill in the ongoing parliamentary session, according to sources. The proposed legislative updates are based on the recommendations of

ED set to expedite proceedings against P Chidambaram New Delhi: Having secured prosecution sanction orders against P Chidambaram, the then Union finance minister, in connection with the alleged offence of money laundering in the Aircel-Maxis deal and INX Media cases, the Enforcement Directorate (ED) will now push to expedite legal proceedings hanging fire in lower

Nayara Energy lawsuit against SAP over software service halt in Delhi HC next week The Delhi High Court will next week hear Nayara Energy‘s lawsuit against German software company SAP’s India unit suspending software services critical to its operations. Nayara had approached the Delhi High Court in September last year after SAP India Pvt Ltd

Yes Bank insider trading case: 16 of 19 executives likely to settle with Sebi Most of the 19 executives named in a Securities and Exchange Board of India notice for alleged insider trading in Yes Bank shares will settle with the regulator, with only three actively challenging the allegation, a senior person with direct knowledge

Meesho slapped with INR 1,500 crore tax demand for AY 2023-24, plans legal challenge E-Commerce giant Meesho has received an income tax assessment order under Section 143(3) for AY 2023-24, raising a massive tax demand of INR 1,499.74 crore (including interest) from the Income Tax Department‘s Assessment Unit. The company, in a regulatory filing before

Indian refiners snap up Russian oil cargoes at sea after US waiver; seek legal clarity New Delhi, Indian refiners have begun snapping up millions of barrels of Russian oil floating in Asian waters after the US granted a waiver allowing purchase of cargoes stranded at sea, but are seeking legal opinion on whether the exemption

RBI proposes rules to protect bank customers from online fraud; suggests compensation for small-value scams The Reserve Bank of India (RBI) has issued new draft guidelines for customer protection in electronic banking transactions, including online and card-based payments. The proposed rules are part of the Reserve Bank of India (Commercial Banks – Responsible Business Conduct)