Securities Laws & Capital Markets

SEBI (Listing Obligations and Disclosure Requirements)
(Amendment) Regulations, 2022 (January 24, 2022)
In exercise of the powers conferred by section 11, sub - section (2) of section 11A and section 30 of the SEBI Act, 1992  read with section 31 of the SCRA , 1956 , the Board has amended the provisions of SEBI (LODR) Regulations, 2015, which inter alia provided that :
  1. The appointment or a re-appointment of a person, including as a managing director or a whole-time director or a manager, who was earlier rejected by the shareholders at a general meeting, shall be done only with the prior approval of the shareholders. [ Regulation 17(1C)]
  2. Issuance of duplicates or new certificates in cases of loss or old decrepit or worn out certificates in dematerialised form. This will improve ease, convenience and safety of transactions for investors. [Regulation 39(2)]
  3. The requests for effecting transfer of securities shall not be processed unless the securities are held in the dematerialised form with a depository. Further, transmission or transposition of securities held in physical or dematerialised form shall be effected only in dematerialised form. [ Regulation 40(1)]

Competition Commission

CCI imposes penalty on maritime transport companies for indulging in cartelisation (January 24, 2022)

The Competition Commission of India (‘CCI’) passed a final order against four maritime transport companies namely Nippon Yusen Kabushiki Kaisha (‘NYK Line’), Kawasaki Kisen Kaisha Ltd. (‘K-Line’), Mitsui O.S.K. Lines Ltd. (‘MOL’) and Nissan Motor Car Carrier Company (‘NMCC’) for indulging in cartelisation in the provision of maritime motor vehicle transport services to automobile Original Equipment Manufacturers (OEMs) for various trade routes. Amongst these four companies, NYK Line, MOL and NMCC were lesser penalty applicants before CCI.  
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