LIBOR Transition in the Indian financial system Co-authored by Jhinook Roy, Partner and Junaid Lirani, Associate
In the backdrop of UK’s Financial Conduct Authority (“FCA”) announcing in March 2021, that the London Interbank Offered Rate (“LIBOR”) would either cease to be provided by any administrator or would no longer be considered a representative rate, the Reserve Bank of India (“RBI”) notified banks and financial institutions, asking them to take necessary steps …
Competition Amendment Act, 2023
On 11th April 2023 the President of India gave her assent to the Competition Amendment Bill, 2023 (Amendment Act) which substantially overhauls the existing Competition Act, 2002 (Competition Act). Notably, the ground-work to revamp the Competition Act began in 2018 with the formation of the Competition Law Review Committee which was set up to recommend changes …
Newsflash: Digital Personal Data Protection Bill, 2022
The Ministry of Electronics and Information Technology released the much-awaited draft Digital Personal Data Protection Bill, 2022 (“Draft Bill”) on 18 November 2022, which is a more concise draft legislation than its previous versions. Following are the key takeaways from the Draft Bill:
Key Components of a Non-Disclosure Agreement
A Non-Disclosure Agreement (“NDA”) is a legal document signifying mutual consent of the parties to render certain information exchanged pursuant to a commercial transaction as confidential. An NDA safeguards sensitive information owned by a party, which is being divulged to the counter party in furtherance of an objective.
Impact of COVID 19 on the Pharmaceutical Industry in India
In the pre-COVID-19 era, the Indian drugs and pharmaceutical industry held a third ranking worldwide for immense production by volume and fourteenth by value in 2019[1]. Subsequently, due to the COVID-19 pandemic, the affairs of the Indian pharmaceutical industry have benefitted from substantial changes in the regulatory regime as enumerated below.
The rise of foreign investment in Indian real estate
The real estate sector is one of the most recognised sectors worldwide from an investment standpoint and primarily consists of four sub-sectors – residential, commercial, hospitality and retail. In India, the real estate sector is considered to be the backbone of the economy and is the second largest employment generator after agriculture, with a multiplier …
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ESG Disclosures for Indian Companies
As we enter the financial year 2023, the year from which SEBI’s Business Responsibility and Sustainability Reporting Framework (“BRSR”) becomes mandatory for the top 1000 listed companies based on market capitalization, corporate commitment to environmental, social and governance (“ESG”) norms continues to be in focus.
Elements of a Privacy Policy in India
1. Legal background 1.1. Data Privacy and Protection regime in India is presently regulated by the Information Technology Act, 2000 (“IT Act 2000”) in conjunction with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 (“SPDI Rules”).
Overhauling the Confidentiality Rules
The Competition Commission of India (CCI) on 8th April 2022 published the CCI (General) Amendment Regulations, 2022 (Amendment) which came into effect from the date of publication. Summarised below are the key provisions relating to the treatment of confidential information pursuant to this Amendment.