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India’s Bank Licensing Flaws: Assessing The ‘Fit and Proper’ Criteria

June 23, 2023

[By Naman Kothari] The author is a student of Government Law College, Mumbai.   Introduction This assessment delves into the flaws surrounding the issuance of bank licenses in India, with a focus on two crucial aspects. Firstly, it examines the shortcomings of the ‘fit and proper’ criteria, which lack precise guidelines and introduce subjectivity, potentially leading to favoritism and arbitrary decision-making. Secondly, it scrutinizes the refusal of licenses…

Relevant Market Access Denial: Challenges in Data-Driven Competition

June 22, 2023

[By Tanya Maheshwari ] The author is a student of University School of Law and Legal Studies, GGSIPU.   Introduction The digital industry has outgrown itself tremendously worldwide, which has led to the expansion of the business sector due to its ease and availability. It’s rightly said that every boon comes with a bane. In this case, as the digitalization of the business sector grew, so did the…

Analyzing the Green Deposit Framework in India

June 22, 2023

[By Mahim Raval] The author is as student of Gujarat National Law University.   Introduction Recently, on 11 April, 2023 Reserve Bank of India (RBI) issued guidelines for Green Deposit framework for Scheduled Commercial Banks (SCBs), Non-Banking Financial Companies (NBFCs), & Housing Finance Companies (HFCs) excluding Regional Rural Banks (RRBs), Local Area Banks (LABs), and Payments Banks, which have now become effective from 1st June, 2023 onwards. This…

Notwithstanding the Non-obstante Clause: Supreme Court Extends Power to Transfer Sec.138 Cases

June 22, 2023

[By Anupama Reddy Eleti] The author is a student of Gujarat National Law University.   Introduction Recently the Supreme Court in the case of Yogesh Upadhyay vs. Atlanta Limited, established the power of the court under sec.406 of CrPC to transfer cases to include cases of cheque  dishonor under sec.138 of the Negotiable Instruments Act, 1881 (hereinafter “NI Act”). The court restored this power by “notwithstanding the non-obstante…

Expostulating SEBI’s Endeavour to incorporate Material Events into the Definition of UPSI: Addressing the Potential Pitfalls

June 22, 2023

[By Mainak Mukherjee] The author is a student of National Law University and Judicial Academy, Assam.   Introduction The Securities Exchange Board of India (SEBI), through its Consultation Paper dated May 18, 2023, has proposed an amendment to the definition of Unpublished Price Sensitive Information (UPSI) as outlined in the SEBI (Prohibition of Insider Trading) Regulations, 2015 (PIT). This proposed amendment seeks to incorporate the term “material events”…

IBC vis-a-vis the Hands-off Doctrine in the Moser Baer Case

June 22, 2023

[By Ansruta Debnath and Shubham Singh] The authors are students of National Law University Odisha.   INTRODUCTION In the recent case of Moser Baer Karamchari Union Thr. President Mahesh Chand Sharma and Ors. v. Union of India, the court has used the doctrine of hands-off to refuse to interfere with the waterfall mechanism in the Insolvency and Bankruptcy Code, 2016 (“IBC”) which it categorised as an economic legislation.…

Age of Aquarius: SEBI’s New Age Reforms For AIFs

June 17, 2023

[By Riva Khan] The author is a student of Hidayatullah National Law University.   INTRODUCTION SEBI has unveiled its proposed regulatory reforms for Alternative Investment Funds (AIFs) in India through five consultation papers released on February 3, 2023. Seeking public feedback, these papers outline the next level of reforms SEBI is planning for AIFs. The proposed changes include enhanced regulatory norms that aim to improve investor protection and…

Revised Safe Deposit Instructions by RBI: Analysing the Liability Clause

June 17, 2023

[By Mansi Verma] The author is a student of Gujarat National Law University.   Introduction Bank locker facilities continue to hold the popularity of bank’s customers as a secured safety vault guarded by the bank’s infrastructure. They keep the customer’s valuables, and any changes in such facilities’ operation directly impact the hirer. In this blog, the author primarily seeks to analyse how the new liability clause recently implemented…

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