RBI issues Statement on Developmental and Regulatory Policies to combat Covid 19
The Reserve Bank of India vide Press Release dated 27 March, 2020 has issued Statement on Developmental and Regulatory Policies to ensure adequate liquidity to all constituents so that COVID-19 related liquidity constraints are eased.
SEBI further relaxes LODR compliances due to COVID 19 Pandemic
SEBI vide circular dated 26th March, 2020 further relaxed timelines for compliances under SEBI (LODR) Regulations, 2015, due to the COVID 19 Pandemic. Publishing of information regarding board meetings and financial results have been exempted for all events scheduled till 15th May 2020.
Relaxation in compliances for certain provisions of SAST regulations, 2011 due to COVID 19 Pandemic
Securities Exchange Board of India vide circular dated 27th March 2020, has relaxed certain provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations). The provisions have been relaxed due to COVID 19 Pandemic. The date for filing details of consolidated shareholding by shareholders is extended.
Work from home for all Private Sector Offices in Delhi as notified by Department of Health and Family Welfare, Delhi
The Department of Health and Family Welfare, Delhi issued a notice stipulating that all Private Sector Offices are to practice Work From Home till 31st March 2020. Another order was issued for close down of shopping malls till 31st March, 2020. A complete lock down order was issued on 22nd March, 2020. Click here to […]
The Ministry of Labour advises employers not to terminate the employees or reduce wages on the pretext of COVID-19 outbreak
The Ministry of Labour and Employment vide notification dated 23rd March 2020 has issued an advisory to the employers of public and private establishments to not terminate the employees/workers or reduce their wages, particularly of the workers who are engaged on a casual or contractual basis. If any employee/worker takes leave he should be deemed to be on duty without any consequential deduction in wages.
SEBI revises criteria for entering the risk – reduction Mode
SEBI has revised criteria for entering the risk reduction mode. clarification regarding provisions of para 7 on “Risk Reduction mode” in SEBI circular, dated December 13, 2012 shall be the criteria for the Stock Exchanges to determine the stock brokers wo would be admitted to the risk reduction Mode.
Tripura Finance Department enacts Tripura Rationalization of Forms and Reports under various Labour Laws Rules, 2019
The Government of Tripura vide notification dated 19.02.2020, has enacted the Tripura Rationalization of Forms and Reports under various Labour Laws Rules, 2019. The rules shall come into effect immediately after publication in the Official Gazette. The rules have been brought in for better maintenance of forms under labor laws.
Government of Tamil Nadu relaxes the provision of maintaining records and registers under major labor laws
The State Government of Tamil Nadu in its Gazette notification dated 18th March, 2020 has notified amendments to 5 major labor laws To relax the provisions for maintenance of records and registers. The amendments allow employers to not maintain certain registers or records if the relevant content is included in any other record maintained by them under any other law.
Suggestions invited for amending Motor Vehicle Rules 1989
The Central Government shall notify and maintain a Portal for National Register of Driving Licenses, which shall be a repository of electronic records containing all particulars pertaining to licenses issued and renewed in each State. The Ministry of Road Transport and Highways vide its notification dated 18th March 2020 has issued the draft Central Motor Vehicles (Amendment) Rules, 2020.
Health Ministry allows doorstep delivery of drugs.
The Ministry of Health and Family Welfare vide its notification dated 26th March 2020 has allowed doorstep delivery of essential medicines as part of an effort to restrict people’s movement further. The licensed dealers can transact drugs using their registered E-mail id.
