IFSCA notifies framework for Aircraft Lease.

The Lessor shall maintain its books of accounts, records, and documents as required under applicable law. The books of accounts and other financial information shall be maintained in any such freely convertible currency.

Cabinet approves Amendments to the National Policy on Biofuels -2018.

This amendment proposal will pave the way for Make in India drive thereby leading to reduction in import of petroleum products by generation of more and more biofuels. Since many more feedstocks are being allowed for production of biofuels, this will promote the Atmanirbhar Bharat and give an impetus to Prime Minister’s vision of India becoming ‘energy independent’ by 2047.

Cabinet empowers PSEs to undertake disinvestment of their subsidiaries.

The process for strategic disinvestment would be open and based on the principles of competitive bidding. The guiding principles would be laid down by DIPAM ( Department of Investment and Public Asset Management) For closure, DPE (Department of Public Enterprises (DPE) shall issue guiding principles.

Medical Devices (Third Amendment) Rules, 2022

The amendment provides that if the manufacturer or licensee importing medical devices fails to comply with any of the conditions of an import license, or any provisions of the Act and these rules, the Central Licensing Authority may after giving the manufacturer or licensee an opportunity to show cause why such an order should not be passed, by an order in writing stating the reasons therefor, cancel a license issued under rules, or suspend it.