Legal Update

17 Feb
2021

CSR Law Amended | Companies (CSR Policy) Amendment Rule, 2021

The Ministry of Corporate Affairs, Government of India, vide its notification dated January 22, 2021, amended the Companies (Corporate Social Responsibility Policy) Rules, 2014, with the introduction of Companies (Corporate Social Responsibility Policy) Amendment Rule, 2021. The provision for Corporate Social Responsibility (“CSR”) was introduced for companies by Section 135

12 Feb
2021

SNAPSHOT | Budget 2021 and recent changes |Startups and MSMEs

The Union Finance Minister recently rolled out the Union Budget in the Parliament bringing about numerous notable changes and reforms under, interalia the corporate and securities laws. The Finance Bill, 2021 (“Bill”) proposes to bring about a change in the scheme of affairs which are likely to impact the Start-ups

26 Nov
2020

Payment Aggregators and Payment Gateway – Escrow Account requirements modified.

Earlier this financial year, the Reserve Bank of India (“RBI”) vide its notification dated March 17, 2020 and with effect from April 1,2020 began regulating the activities of Payment Aggregators (“PAs”) and Payment Gateways (“PGs”) (“Regulation”). Our legal update on the foregoing may be accessed at : http://aplaw.in/now-regulated-payment-aggregators-and-payment-gateways/ The Regulation

17 Nov
2020

NOW INTRODUCING – FRAMEWORK FOR RECOGNITION OF A SELF-REGULATORY ORGANISATION FOR PAYMENT SYSTEM OPERATORS

The Reserve Bank of India, vide the notification DPSS.CO.PD.No.503/02.12.004/2020-21 dated October 22, 2020, has issued the framework for recognition and establishment of Self-Regulatory Organization (SRO) for Payment System Operators (PSOs). With substantial growth in digital payments and maturity gained by entities in the payment ecosystem, RBI felt the need to

01 Jul
2020

MICRO, SMALL AND MEDIUM ENTERPRISES – RE-CHRISTENED!

The Ministry of Micro, Small and Medium Enterprises, vide a notification dated June 26, 2020, notified certain criteria for classifying the enterprises as micro, small and medium enterprises and specifies the form and procedure for filing the memorandum, with effect from July 1, 2020 (“Notification”). The Notification provides for the

08 May
2020

LIBERALISED – FOREIGN DIRECT INVESTMENT IN INSURANCE SECTOR

Earlier this year, the Department of Promotion of Industry and Internal Trade, under the Ministry of Commerce & Industry, Government of India, had on February 21, 2020, issued Press Note No. 1 (2020 series) ( “Press Note 1”) , amending the Foreign Direct Investment Policy as contained in the Consolidated

18 Apr
2020

PRESS NOTE 3 (2020 SERIES) | COVID -19 AND FDI IN INDIA

The Department of Promotion of Industry and Internal Trade, under the Ministry of Commerce & Industry, Government of India, has on April 17, 2020, issued Press Note No. 3 (2020 series) (hereinafter referred to as “Press Note 3”)[1], amending the Foreign Direct Investment Policy as contained in the Consolidated FDI

02 Apr
2020

NOW REGULATED – PAYMENT AGGREGATORS AND PAYMENT GATEWAYS

The Reserve Bank of India (“RBI”) with effect from April 1, 2020 will be regulating the activities of Payment Aggregators (“PAs”) and Payment Gateways (“PGs”)[1]. Until April 1,2020, intermediaries such as PAs and PGs, did not require registrations from the RBI and only banks were regulated while operating the accounts