Introduction

Edition 31/20-21

Week – February 15th to February 19th

Quote for the week:

“Arise, awake and do not stop until the goal is reached”  

  - Swami Vivekananda

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.

In the wake of COVID-19, the various regulatory authorities have been granting many relaxations, exemptions and amendments to the various legislations by regulatory authorities to ease out the operations during this time of crisis.

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 Securities and Exchange Board of India (“SEBI”), and the Reserve Bank of India (“RBI”) and it also contains Overview of Budget 2021 and critical judgements and orders passed by SEBI, Supreme Court and High Court.   

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of February 15, 2021 to February 19, 2021.

Thank you,

Swift Team

Table of Contents                                   

REGULATORY UPDATES.

SEBI UPDATES.

1. SEBI takes decisions on various Regulations vide Press Release dated February 17, 2021

RBI UPDATES.

1. RBI permits resident individuals to make remittances under Liberalised Remittance Scheme (LRS) to International Financial Services Centres (IFSCs) set up in India under the Special Economic Zone Act, 2005 vide Circular dated February 16, 2021
2. RBI issues Master Direction on Non-Banking Financial Company – Housing Finance Company on February 17, 2021 

JUDGEMENTS/ ORDERS.

SEBI

1. Settlement orders in respect of Dish TV India Limited.

HIGH COURT. 

1. Delhi High Court disposes of the petition filed by Career Launcher Infrastructure Private Limited by appointing an arbitrator to arbitrate the dispute
2. The Delhi High Court directed the Trial Court to summon the Bank Manager and to record the evidence as to whether any authorization was given to sign the cheque on behalf of the accused
3. Application filed challenging the arbitral award rendered by the Arbitral Tribunal was dismissed by the Delhi High Court, the application is unmerited

SUPREME COURT

1. A closer scrutiny on the role of banks and financial institutions was directed by the Supreme Court, as they were aware of the Award granted in favour of M/s. Daiichi Sankyo Company Limited