Introduction

Edition 41ST 21-22

Week – January 17th to January 21th

Quote for the week:

"Talent wins’ games, but teamwork and intelligence win championships."

--Michael Jordan.”

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 Securities and Exchange Board of India (“SEBI”) and International Financial Service Center Authority (“IFSCA”), and critical judgements and orders passed by the National Company Law Appellate Tribunal (NCLAT), SEBI, High Court and Supreme Court.

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

1. RBI vide press release dated January 20, 2022 issues regulations under the amended Factoring Regulation Act, 2011.
2. Amendment to Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of January 17, 2022 to January 21, 2022.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

RBI UPDATES

1. RBI vide press release dated January 20, 2022 issues regulations under the amended Factoring Regulation Act, 2011

SEBI Updates

1. Amendment to Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995

JUDGEMENTS/ ORDERS

SEBI

1. SEBI imposes penalty for the violations under PFUTP Regulations, 2003 in the matter of dealings in Illiquid Stocks Options at the BSE

NCLAT

1. National Company Law Appellate Tribunal (NCLAT) New Delhi dismisses the appeal made ANR International Private Limited (Corporate Debtor) under section 61 of Insolvency and Bankruptcy Code, 2016 (Code)

HIGH COURT

1. Sole arbitrator is appointed to adjudicate the dispute between Envirad Project Private Limited and NTPC Limited over NTPC – Tanda Project

SUPREME COURT

1. Supreme Court awards additional compensation to the claimants of the subject lands in question to be acquired under the Land Acquisition Act, 1984, for the public purpose for ONGC