Ministry of Textiles extends Requirement of Jute Packaging for Specified Commodities
The present order stipulates that the requirements for the use of jute packaging material will be in force till 30th September, 2023.
Plant Quarantine (Regulation of Import
into India) (Fourth Amendment) Order, 2023
It has inserted a new plant species in its list of plants/plant materials permitted to be imported with additional declarations and special conditions. It has introduced Shorea robusta (sal) which falls under the category of seeds/ kernels.
BIS notifies revised standards in Agriculture and Other Products
The notification pertaining to agriculture have introduced 5 standards. All of these standards have been established on 15th June, 2023. The BIS has also established 3 other standards on 12th June, 2023.
TRAI proposes formation of a working group to study and give recommendations on faster adoption of 5G
In view of the immense potential and likely contribution of 5G, Forum of Indian Regulators (FOIR) has agreed to set up a group to study the opportunities and challenges associated with adoption of 5G and related technologies such as AIMLIIOT/M2M/ARNRllndustry4.0 etc. in different sectors represented in FOIR viz. Industries, ports, airports, power sector, petroleum & natural gas, Real Estate, Food industry etc for sector specific applications as well as common applications in Data analytics, office management, MIS etc. for the regulators.
TRAI Consultation Paper on Encouraging Innovative Technologies, Services, Use Cases, and Business Models through Regulatory Sandbox in Digital Communication Sector
The sandbox framework for the Digital Communication (DC) sector in India aims to promote innovation, protect consumer interests, and mitigate risks associated with new technology and business models. Its objectives include encouraging innovation, reducing regulatory burdens for small and medium-sized enterprises (SMEs), and ensuring consumer protection. Under this framework, entities are granted facilities and flexibility to experiment with telecom products, services, or applications on a limited set of real customers in a live environment for a specific timeframe. The sandbox scope encompasses testing any new DC service or technology that requires a controlled environment.
SEBI Master Circular for Issue of Capital and Disclosure Requirements
All circulars/directions issued under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018(“ICDR Regulations 2018”) are hereby replaced by the master circular.
SEBI revised timelines for Issuance of units of AIFs in dematerialized form
Schemes of AIFs with corpus ≥Rs 500 Crore shall ensure the Dematerialization of all the units issued latest by October 31, 2023 and Issuance of units shall be only in dematerialized form November 01, 2023. Schemes of AIFs with corpus < Rs 500 Crore shall ensure Dematerialization of all the units issued Latest by April 30, 2024 and Issuance of units only in dematerialized form from May 01, 2024 onwards.
Modalities for launching Liquidation Scheme and for distributing the investments of Alternative Investment Funds in-specie
During the liquidation period of an AIF’s original scheme, if the decision to launch a Liquidation Scheme is made, the AIF must obtain consent from at least 75% of investors based on the value of their investments in the original scheme. This ensures that a significant majority of investors are in agreement with the liquidation process.
Standardized approach to valuation of investment portfolio of Alternative Investment Fund
AIF securities covered under the SEBI (Mutual Funds) Regulations, 1996, the valuation process should align with the norms specified for mutual funds. For securities not covered under the aforementioned norms, AIFs should follow the valuation guidelines endorsed by an AIF industry association representing at least 33% of SEBI registered AIFs.
MCA extends due date to file DPT-3 without additional fees
Keeping in view the transition of MCA-21 Portal from Version -2 to Version -3, it has been decided to allow companies to file Form DPT -3 for the financial year ended on 31st March 2023 without paying additional fees up to 31st July 2023.
