Insurance

Proposed Amendments to IRDAI (Third Party Administrators – Health Services) Regulations, 2016 (Feb15, 2022)

Taking into consideration the experience gained while reviewing the dynamic needs of the insurance industry, the TPA Regulations 2016 were comprehensively reviewed in  order to examine the scope for allowing operational freedom to both insurers and TPAs. The extant regulations are also reviewed from the perspective of allowing further facilitations that can be considered. All the stakeholders are requested to forward their comments / suggestions, if any, on the proposed modifications in the specified format by  March 06, 2022, to saurabh.vinayak@irdai.gov.in. 


National Company Law Tribunal

Amazon dispute : Supreme Court allows Future to move Delhi High Court for Reliance merger proceedings (Feb16, 2022)

The Supreme Court allowed Future Retail (FRL) to approach the Delhi High Court for seeking approval to resume proceedings for its Rs.24,731-crore merger deal with Reliance Retail before the National Company Law Tribunal beyond the stage of the meeting of shareholders and creditors. A bench led by Chief Justice NV Ramanan granted this liberty in view of FRL’s submissions that continuation of the NCLT proceedings for grant of final approval to the proposed merger scheme will not adversely affect Amazon in any manner. Accordingly, it asked the single judge of the HC to consider all the contentions and pass appropriate orders as to the continuation of the NCLT proceedings and other regulatory approvals expeditiously.


SEBI

Union Finance Minister addresses Board Members of SEBI (Feb 15, 2022)

Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, interacted with the members of the SEBI Board at New Delhi on February 15, 2022. Shri Ajay Tyagi, Chairman, SEBI, welcomed the Hon’ble Finance Minister and briefed about the major trends and outlook of Indian securities market, including fund raising activity, increased participation of individual investors, etc. Hon’ble Finance Minister, in her address, while appreciating the initiatives taken by SEBI emphasized the need for the regulator to take further steps to reduce compliance burden, reduce cost of market intermediation, take more investor protection measures, further develop the corporate bond market, develop green bond market in the context of increasing focus on ESG investment, initiate next generation of reforms to improve ease of doing business and be prepared for the possible market turbulence on account of US Fed actions.


Market Today ( 16.02.2022 )

BSE Sensex             57996.68 (-145.37)
Nifty 50                    17322.20 (-30.25)

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