Introduction

Edition 43rd 21-22
Week – January 31st to February 04th
 

Quote for the week:

“To be successful, you have to have your heart in your business, and your business in your heart."

– Thomas Watson, Sr., former CEO, IBM.”

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”), International Financial Services Centers Authority (“IFSCA”) and orders passed by the High Court and Supreme Court.

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

1. IFSCA issue notification of IFSCA (Insurance Web Aggregator) Regulations, 2022.
2. SEBI issue Guidelines on Accounting with respect to Indian Accounting Standards (IND AS).

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of January 31, 2022 to February 04, 2022.

Thank you,
Swift team

Table of Contents
REGULATORY UPDATES

1. SEBI issue Guidelines on Accounting with respect to Indian Accounting Standards (IND AS)
2. SEBI issues circular on Schemes of Arrangement by Listed Entities
3. SEBI issues Circular relating to change in control of the asset management company involving scheme of arrangement under Companies Act, 2013

IFSCA 

1. IFSCA notifies IFSCA (Insurance Web Aggregator) Regulations, 2022

JUDGEMENTS / ORDERS

HIGH COURT 

1. Breach in Loan Agreement triggers arbitration clause to resolve the dispute between Tata Capital and its Borrower & Co-Borrower

SUPREME COURT

1. Appeal filed by M/s Consolidated Construction Consortium Limited was allowed to setting aside the Order of the NCLAT, stating that the CIRP in respect of the M/s Hitro Energy Solutions Private Limited is ongoing