Monthly Archives: August 2013

SEBI ushers in changes to Preferential Issue of Shares Norms in ICDR

By Amit Das, Associate The Securities and Exchange Board of India (the “SEBI”) has, vide notification no. LAD-NRO/GN/2013-14/19/6422 dated August 26, 2013, notified an amendment to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the “ICDR Regulations”). SEBI … Continue reading

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Class Action Suits in India – What can be expected

By Amit Das, Associate After a lot of debate and subsequent anticipation, the Rajya Sabha has finally passed the Companies Bill, 2012 (“the Bill”) on August 8, 2013. In December, 2012, the Lok Sabha had passed the Bill, and now … Continue reading

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RDA Legal Advises Sasken in its appointment of new CEO

RDA Legal advised Sasken Communication Technologies in its appointment of Mr. Anjan Lahiri (former CEO of Mindtree) as its new Chief Executive Officer and whole-time Director. RDA Legal was represented by its Bangalore partner, Mr. Avik Biswas in its engagement … Continue reading

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SEBI issues amendments to its Mutual Funds Regulations

By Amit Das, Associate The Securities and Exchange Board of India (“SEBI”) has, vide notification no. LAD-NRO/GN/2013-14/18/6384 dated August 19, 2013, notified an amendment to SEBI (Mutual Funds) Regulations, 1996 (the “Regulations”). SEBI has done this in exercise of the … Continue reading

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Liberalised Remittance Scheme: RBI reduces limit from USD 200,000 to USD 75,000

By Amit Das, Associate The Reserve Bank of India (“the RBI”), vide Circular No. RBI/2013-14/181 dated August 14, 2013, issued guidelines with regard to the Liberalised Remittance Scheme (“LRS”) for Resident Individuals (“the Scheme”) to all Category-I Authorised Dealer Banks … Continue reading

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Public Policy and Foreign Arbitral Awards

By Rudrajyoti Nath Ray, Associate In India – the true import of the phrase “public policy” was, at first, put to question in relation to the Indian Contract Act, 1872 (“ICA”). Section 23 of the ICA reads, amongst other things, … Continue reading

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IRDA allows banks to act as insurance brokers

By Rohit Padhi, Associate The Insurance Regulatory Development Authority (“IRDA”) vide its notification IRDA/Reg/21/79/2013 dated August 8, 2013 has allowed banks to act as insurance brokers and sell products of more than one insurer so as to increase the penetration … Continue reading

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