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Newsletter

Stay informed and up-to-date with the latest news and insights related to compliance

ricago Newsletter July Edition - 2024

General Laws

GOVERNMENT OF GUJARAT THE GUJARAT PRIVATE SECURITY AGENCIES (REGULATIONS) RULES, 2024

The Gujarat Private Security Agencies (Regulations) Rules, 2024. These rules aim to enhance security standards and maintain operational transparency.

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Judicial Insight

SUPREME COURT UPHOLDS TIMELY TAX REFUNDS AND LIMITS ON ADJUSTMENT AGAINST DUES

Supreme Court Upholds Timely Tax Refunds and Limits on Adjustment Against Dues

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Industry Specific Laws

CERC CENTRAL ELECTRICITY REGULATORY COMMISSION (PROCEDURE, TERMS AND CONDITIONS FOR GRANT OF TRANSMISSION LICENCE AND OTHER RELATED MATTERS) REGULATIONS, 2024

Applicable to all entities involved in electricity transmission in India, including those seeking licenses, current license holders, regulatory bodies like CERC, and other stakeholders such as consumers and electricity traders.

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Labour Laws

GOVERNMENT OF KARNATAKA EXEMPTION FROM THE APPLICABILITY OF INDUSTRIAL EMPLOYMENT (STANDING ORDERS) ACT, 1946 FOR A PERIOD OF FIVE YEARS

The Karnataka Government has extended the exemption of IT/ITES/Start-ups/Animation/Gaming/Computer Graphics/Telecom/BPO/KPO/Other Knowledge-based Industries from the applicability of the Industrial Employment (Standing Orders) Act,1946, for an additional five years starting 10th June 2024.

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Corporate Laws

SEBI SEBI (STOCK BROKERS) (AMENDMENT) REGULATIONS, 2024

The Securities and Exchange Board of India (SEBI) has issued a significant update to the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992, through the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2024.

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General Laws

GOVT OF UTTAR PRADESH UTTAR PRADESH LIFT AND ESCALATOR ACT, 2024

The Uttar Pradesh Lifts and Escalators Act, 2024, (U.P. Act No. 4 of 2024), has been enacted to regulate the construction, installation, maintenance, and safe operation of lifts and escalators in the state.

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Labour Laws

GOVT OF TELANGANA EXEMPTION FOR IT AND ITES COMPANIES IN TELANGANA

Information Technology Enabled Services (ITES) and Information Technology Establishments in Telangana are exempted from certain sections (15, 16, 21, 23, and 31) of the Telangana Shops and Establishments Act, 1988.

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Judicial Insight

CLAIMANT'S FAILURE TO REQUEST A HEARING DATE DOES NOT ALONE RENDER PROCEEDINGS UNNECESSARY

Dani Wooltex Corporation owned land in Mumbai, part of which was to be developed by Sheil under a Development Agreement dated August 11, 1993.

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Corporate Laws

RBI AMENDMENT TO MASTER DIRECTION - LENDING TO MICRO, SMALL & MEDIUM ENTERPRISES (MSME) SECTOR

The Reserve Bank of India (RBI) has issued amended guidelines to banks regarding lending to the Micro, Small, and Medium Enterprises (MSME) sector.

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