TIOL Mail Update
 
 
2020-TIOLCORP-NEWS-234| Monday November 23, 2020

Dear Member,

Sending following links.

Warm Regards,
Tiolcorplaws

For assistance please call us at +91 850 600 0282 or email us at helpdesk@tiol.in.

 
CAPITAL MARKET LAWS
2020-TIOLCORP-03-SC-CM

Rusoday Securities Ltd Vs NSE INDIA LTD

Whether withdrawal of trading would automatically extricate defaulting member from his obligation regarding annual charges and margin requirements towards exchange - NO : SC

Whether the appellant being a Trading Member is legally bound by the Circular No. NSCC/CM/C&S/030 which allows the withdrawal of trading facility and forthwith closing out of open positions - YES : SC

Whether the appellant being Trading Member is obligated to maintain the prescribed Interest Free Security Deposit and other deposits, despite the withdrawal of its trading facilities, for continued membership of the Exchange - YES : SC

Whether continuation of membership and fulfillment of capital adequacy norms run co-terminously with each other, and failure to comply with the latter would automatically put the former in jeopardy - YES : SC

- Appeals disposed of: SUPREME COURT OF INDIA

 
COMPETITION LAWS
2020-TIOLCORP-28-CCI

Saumya Agrawal And Uppal Chadha Hi-Tech Developers Pvt Ltd

Whether in the absence of dominance in the relevant market, the assessment of alleged abusive conduct is not required to be undertaken - YES: CCI

- Order passed u/s 26(2): CCI

 
MISCELLANEOUS
2020-TIOLCORP-35-SC-MISC-LB

Venkatesan Balasubramaniyan Vs DRI

Whether bail illegally or erroneously granted under Section 167(2) Cr.PC can be cancelled under Section 439(2) Cr.P.C - YES : SC

- Appeal dismissed: SUPREME COURT OF INDIA

2020-TIOLCORP-163-HC-MUM-MISC

State Of Maharashtra Vs Anil Kohil

Whether action taken under provisions of MPID Act against a Financial Establishment can be challenged not before Designated Court under MPID Act but before NCLT by resorting to remedy provided under IBC- NO: HC

Whether a Writ Petition filed challenging order passed by NCLT is maintainable in view of availability of alternate remedy of appeal provided u/s 61 of IBC to NCLAT- YES: HC

Whether notification issued u/s 4 of MPID Act and consequent attachment of property including Corporate Debtor's bank account can be challenged by approaching NCLT u/s 60(5) of IBC - NO: HC

- Petition disposed: BOMBAY HIGH COURT

 
HIGH LIGHTS (SISTER PORTAL)
  TIOL

Govt proactively looking to provide parks to grow API: Gowda

Post Grad Ayurveda Education - Govt issues clarification

Technical Committee recommends five Innovative Technologies in Drinking Water

India, Singapore kick off naval drills in Andaman Sea

The Section 16(4) ITC demand

Realty Sector - Revenue sharing agreements are better than JDAs

Zero rating the exempted supplies

TOG

PM lays foundation stone of rural drinking water supply projects in UP

Cotton Bales valuing Rs 6440 Crore procured benefitting 419634 Farmers

 

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FLASH NEWS
Byju's to raise $200 million fresh funding from BlackRock and T. Rowe Price

Western Union acquires 15% stake in digital payment unit of Saudi Arabia's STC Group for $200 million

RBI slaps penalty of Rs. 200 lakh on Sodexo SVC India for non-compliance of regulatory guidelines  

 
CORP BRIEF
COVID-19: 'We are living in a phase of a Silent War': Health Minister

RBI slaps fines on six entities including PNB, Sodexo, PhonePe

CCI nod to Reliance Retail to acquire Future Group retail business

 
SEBI CIRCULAR
Introduction of Unified Payments Interface (UPI) mechanism and Application through Online interface and Streamlining the process of Public issues of securities  
SEBI REPORT
Consultative Paper On Re-Classification Of Promoter/ Promoter Group Entities And Disclosure Of The Promoter Group Entities In The Shareholding Pattern  
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