Introduction

Edition 50th 21-22

Week – March 21st to March 26th

Quote for the week:

"There is no greater thing you can do with your life and your work than follow your passions in a way that serves the world and you                              

– Richard Branson”

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We hope that you liked our previous editions and found it to be of great value in its content. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various Circulars/notifications issued by certain regulatory authorities such as the Reserve Bank of India (“RBI”), Securities and Exchange Board of India (“SEBI”) and orders passed by the NCLAT, SEBI, High Court and Supreme Court.

The Regulatory authorities provided various updates/relaxations, some of which being:

1. SEBI amends Securities and Exchange Board of India (Listing obligations and Disclosure Requirements) Regulations 2015.
2. RBI issues Master Direction on Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions 2021.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of March 21, 2022 to March 26, 2022.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

SEBI

1. SEBI amends Securities and Exchange Board of India (Listing obligations and Disclosure Requirements) Regulations 2015

RBI

1. RBI has issued an amendment to Master Direction on (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions 2021

JUDGEMENTS AND ORDERS

SEBI Order

1. SEBI has passed the adjudication order in the matter of TASC Pharmaceuticals Ltd for fradulent and unfair trade practice

HIGH COURT

1. Petition stands dismissed on the ground that, mere use of the word ‘Arbitration’ in the heading in the Clause of the Agreement would not lead to the inference that there exists an agreement, seeking resolution of disputes through arbitration

SUPREME COURT

1. SEBI files a statutory appeal under Section 15Z of the SEBI Act, 1992 against the final order of the Securities Appellate Tribunal