SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

Securities and Exchange Board of India (Listing Obligations and   Disclosure Requirements) (Sixth Amendment) Regulations, 2022. (15th November 2022)

In exercise of the powers conferred by section 11, subsection (2) of section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

NOTIFICATION : SEBI | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2022

MINISTRY OF ROAD & HIGHWAYS

Draft notification issued to supersede the All India tourist vehicle ( Authorisation or Permit) Rules, 2021 (NOV 15, 2022)

The rules notified in 2021 provided a significant boost to the tourism sector in India by streamlining and simplifying the permit regime for tourist vehicles. Now, with the proposed All India Tourist Vehicles (Permit) Rules, 2022, the tourist permit regime is proposed to be further streamlined and strengthened.

 The key features of the proposed rules are as follows: 

  1. To simplify the procedure for All India Permit applicants and to reduce compliance burden
  2. More categories of tourist vehicles, with lesser permit fees for lesser capacity vehicles (less than ten) have been proposed. 
  3. To promote deployment of electric vehicles in large numbers a streamlined regulatory ecosystem at no cost to the operator(s) has been proposed.

PRESS RELEASE : https://pib.gov.in/PressReleasePage.aspx?PRID=1876050

MINISTRY OF FINANCE 

Reappointment of Director on the board of NABARD (NOV 15, 2022)

In exercise of the powers conferred by clause (c) of sub-section (1) of Section 6 of the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981), the Central Government, in consultation with the Reserve Bank of India, hereby re-appoints Smt. Revathy Iyer, Director, Central Board of Reserve Bank of India (RBI) on the Board of Directors of National Bank for Agriculture and Rural Development (NABARD) w.e.f. 06.08.2022 for a period of three years or until further orders, whichever is earlier.

GAZETTE NOTIFICATION : 240273.pdf (egazette.nic.in)

SUPREME COURT 

51 former and sitting MPs face trial under PMLA, Supreme Court told (NOV 15, 2022)

A report submitted before the top court also apprised it that 71 Members of Legislative Assembly (MLAs) and Members of Legislative Council (MLCs) are accused in cases arising out of offences under Prevention of Money Laundering Act, 2002.

The status report also informed that 121 cases lodged by the Central Bureau of Investigation (CBI) are pending against MPs and MLAs, including former and sitting members.

DETAILS : 51 former and sitting MPs face trial under PMLA, Supreme Court told - The Economic Times (indiatimes.com) 

BOMBAY HIGH COURT

Bombay HC issues notice to Bar Council of India on plea against long court vacations (NOV 15, 2022)

The Bombay High Court on Tuesday issued notice to the Bar Council of India (BCI) seeking its response in a writ plea filed by one Sabina Lakdawala claiming that the courts taking vacations, including during Diwali, is a violation of the fundamental rights of citizens as the litigants’ right to avail justice is affected by such long vacations.

The plea has sought a declaration that closing courts for more than 70 days for any kind of vacation is a violation of the fundamental rights of litigants and the same should come to an end.

NEWS REPORT : Bombay HC issues notice to Bar Council of India on plea against long court vacations (msn.com)

BUSINESS NEWS 

US Orders Tata-Led Air India To Pay $121.5 Million As Passenger Refunds (NOV 15, 2022)

The US has ordered Tata-group owned Air India to pay a whopping $121.5 million as refunds and $1.4 million as penalties for extreme delays in providing refunds to passengers due to the cancellation or change in flights, mostly during the pandemic, officials said.

In addition to Air India, the other airlines that were slapped fines include Frontier, TAP Portugal, Aero Mexico, EI AI, and Avianca.

NEWS REPORT : US Orders Air India To Pay $121.5 Million As Passenger Refunds And $1.4 million As Fines (ndtv.com)

NEWS AT GLANCE 

  • 17th G20 Summit begins in Bali, Indonesia; Prime Minister Narendra Modi attending the two-day summit along with other top global leaders.  
  • Janjatiya Gaurav Divas being celebrated across the country today;
  • Northeast India witnesses 80 per cent decline in insurgency-related incidents since 2014, says Union Home Ministry.  
  • India says access to Finance and Technology for developing countries must to protect planet earth.

WORD OF THE DAY 

Aggravated Assault is the crime of physically attacking another person which results in serious bodily harm and/or is made with a deadly or dangerous weapon such as a gun, knife, sword, ax or blunt instrument.

MARKET TODAY (as on 15.11.2022)

BSE SENSEX          61,872.99 INR▲ +248.84 (+0.40%)    

NIFTY 50                18,403.40 INR▲ +74.25 (+0.41%)

1 US Dollar = 80.84 Indian Rupee (Last updated · 15 November at 1:15 pm UTC)

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