In the July edition of our monthly newsletter “Legalaxy”, our team analyses some of the key developments in securities market, banking and finance, corporate affairs, labour and consumer affairs.

Below are the key highlights of the newsletter:

SEBI UPDATES

• SEBI extends timeline of additional liquidation period for VCFs migrating to the SEBI (AIF) Regulations
• SEBI revises industry standards on RPTs by listed entities
• SEBI issues framework for ESG debt securities
• SEBI provides limited relaxation from compliance with certain provisions of the LODR Regulations

IFSC UPDATES

• IFSCA amends the framework for finance company/ finance unit undertaking the activity of GRCTC
• IFSCA amends directions to IBUs for operations of FCA of Indian residents opened under LRS

CORPORATE UPDATES

• NSDL notifies additional compliance for off-market share transfers of private companies
• MoF notifies amendments to the Foreign Exchange Management (Non-Debt Instruments) Rules

LABOUR UPDATES

• Rest intervals revised for factories in Andaman and Nicobar Islands
• Tamil Nadu modified the penalty provisions under its Shops and Establishments Act
• Punjab extends 365 days operational approval for establishments by one year

OTHER UPDATES

• E-commerce platforms advised to conduct self-audits to identify dark patterns
• MCA notifies the revised Form AOC-4 XBRL, CRL-1 and INC-22A

We hope you like our publication. We look forward to your suggestions.

Please feel free to contact us at [email protected]

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