UIDAI
The Aadhaar (Authentication and Offline Verification) (First Amendment) Regulations, 2022 (February 04, 2022)
The Unique Identification Authority of India has notified the Aadhaar (Authentication and Offline Verification) (First Amendment) Regulations, 2022. Regulations 16B and 16C are newly inserted regulations which inter-alia contains provisions pertaining to manner of voluntary use of Aadhaar number viz :
  1. Acceptance of Aadhaar (in form of- physical/Aadhaar Letter/printed e-Aadhaar/ Aadhaar PVC card/m-Aadhaar) as proof of Identity ,
  2. Offline Verification Seeking Entity shall verify the details with digitally signed Aadhaar Secure QR code , 
  3. Aadhaar number in electronic form may be used by aadhaar holder for establishing his identity by way of offline verification and the Offline Verification Seeking Entity shall verify the digital signature ,
  4. Yes/No or eKYC authentication facility for electronic Aadhaar to be provided by an authorized requesting entity.
  5. Further, as per new regulation 16C, for acceptance for Aadhaar-Offline Verification Seeking Entity shall verify the digital signatures through Aadhaar secure QR Code and every requesting entity shall ensure informed consent of Aadhaar number holder beforehand of acceptance as proof of identity.
  6. New definitions such as Aadhaar letter, Aadhaar Polyvinyl Chloride Card (PVC), e-Aadhaar, m-Aadhaar are introduced.

The Central Board of Direct Taxes (CBDT) 

Clarification regarding the Most-Favoured-Nation (MFN) clause in the Protocol to India's DTAAs with certain countries [Circular No. 3 Dated February 03, 2022]

The Protocol to India’s Double Taxation Avoidance Agreements (DTAAs) with some of the countries, especially the European States and OECD members contains a provision, referred to as the Most-Favoured-Nation (MFN) clause. 
The CBDT has received representations seeking clarity on the applicability of the MFN clause (particularly to dividend withholding rates) available in the Protocol to some of the DTAAs with OECD member States. 
IndusInd Bank moves NCLT to initiate insolvency proceedings against Zee Ent (February 05, 2022)
Private sector lender IndusInd Bank has filed a plea before NCLT to initiate insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL). An application has been filed by IndusInd Bank Ltd, claiming to be a Financial Creditor, before the NCLT, Mumbai for initiation of Corporate Insolvency Resolution Process (CIRP) against the company, claiming a default of Rs 83.08 crore. 
According to ZEEL, the issue of the company's alleged default under the Debt Service Reserve Account (DSRA) Guarantee Agreement, is sub-judice before the Delhi High Court in a suit filed by the company against IndusInd Bank.
On December 22 last year, ZEEL announced its merger with Sony Pictures Networks India Pvt Ltd (SPNI) after signing definitive agreements. As per the deal, Sony would invest USD 1.575 billion and hold 52.93 per cent stake in the merged entity and Zee will have the remaining 47.07 per cent.

MARKET SUMMARY
Stock Market Indices (as on 07.02.2022 )

S & P BSE Sensex Index           57621.19 (-1,023.63)

Nifty 50 Index                            17213.60 (-302.70)



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