Annexure
The TRAI Recommendations propose a comprehensive framework for the regulation of AI in India. Its salient features are listed below.
Artificial Intelligence and Big Data regulation: Analyzing India’s emerging regulatory framework
The Telecom Regulatory Authority of India (the “TRAI”) has recently released recommendations on “Leveraging Artificial Intelligence and Big Data in the Telecommunication Sector” and has suggested that the Indian government must adopt a regulatory framework for AI that applies across sectors.
SEBI allows LPs to choose the AIF investments they want to participate in
In a circular issued last month (the “Circular”), the Securities and Exchange Board of India (the “SEBI”) has allowed specific investors to excuse or exclude themselves from any particular investment being made by an alternative investment funds (“AIF”) in which they have invested.
INDIA’S SPACE POLICY – THE GOVERNMENT CONTINUES TO PUSH FOR MORE PRIVATE SECTOR PARTICIPATION
Indian Space Research Organization (“ISRO”) issued the Indian Space Policy – 2023 (the “Space Policy”) on April 20, 2023, after it received the approval of the Union Cabinet.
M&A IMPACT DUE TO CHANGES IN INDIA’S COMPETITION LAW
The Indian parliament approved the Competition Amendment Act, 2023, (the “Amendment Act”) on April 11, 2023. The Amendment Act has also been published in the Official Gazette, although it is yet to come in force.
NEW RBI DIRECTIONS ON BANK ACQUISITIONS IN INDIA
Last month, the Reserve Bank of India (the “RBI”) introduced master directions (the “Directions”) and guidelines (the “Guidelines”) for the acquisition and ownership of shares and voting rights in banking companies. The main aim of the Directions and Guidelines is to ensure that the ultimate ownership and control of banking companies remains well diversified.
India’s UGC seeks to allow foreign universities to set up Indian campuses
Recently, the University Grants Commission (the “UGC”) has published the Draft University Grants Commission (Setting up and Operation of Campuses of Foreign Higher Educational Institutions in India) Regulations, 2023 (the “Draft Regulations”) proposing the establishment and operation of international branch campuses (“IBCs”) of foreign higher educational institutions (“FHEIs“) offering undergraduate and higher level programmes in …
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LEGALITY OF VOLUNTARY RESIGNATIONS IN INDIA
In November 2022, Amazon initiated a voluntary separation program (“VSP”) which allowed eligible employees to resign voluntarily from employment in exchange for specific severance benefits, including twenty-two (22) weeks’ base pay, one (1) week’s base salary for every six (6) months of services, up to a maximum of twenty (20) weeks, medical insurance for six …
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New SEBI Regulations Impacting Alternative Investment Funds in India
The Securities and Exchange Board of India (the “SEBI”) has issued two (2) circulars, dated November 17, 2022 (the “SEBI November 17 Circular”) and November 23, 2022, (the “SEBI November 23 Circular”), respectively, in furtherance of the SEBI (Alternative Investment Funds) Regulations, 2012 (the “AIF Regulations”) to protect investor interests and to better regulate the …
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Decoding the Twitter V. Elon Musk Feud – What is the “Material Adverse Effect” Clause and What is it’s Impact on M&A Deals?
Mergers and Acquisitions (“M&A”) are strategic business collaborations that form an indispensable part of the corporate world. Parties have to mutually consent upon key terms and considerations regarding the target’s business before closing the deal. Legally speaking, the ongoing dispute between Twitter and Elon Musk (“Musk”) in the Delaware Chancery Court has given prominence to …