The Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2021.
The rule shall apply to e filing, display of interim or final orders or directions passed by the Tribunals on the common website in the e-DRT system and to the electronic issuance and e-service of intimations
IBBI has specified the format of CIRP 8 under IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
The Resolution Professional is duty-bound to find out if a corporate debtor has been subject to avoidance transactions, namely, preferential transactions, undervalued transactions, extortionate credit transactions, fraudulent trading and wrongful trading, and file applications with the Adjudicating Authority seeking appropriate relief.
IFSCA constitutes an expert committee on longevity finance
An Expert Committee has been constituted by IFSCA in its endeavor to develop a Longevity Finance Hub in GIFT IFSC.
RBI extends due date for submission of Foreign Liabilities and Assets (FLA) Returns -2021
The last date for the submission of Foreign Liabilities and Assets (FLA) Returns-2021 has been extended to 31st July,2021.
RBI extends the timeline for implementing the cassettes swap system for ATMs.
In order to mitigate risks involved in open cash replenishment/ top-up, it was advised by the Committee on Currency Movement that the banks may consider using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment.
The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2021.
Through this amendment, a new regulation 4B has been inserted which deals with disclosure of change in name and address of the corporate debtor.
RBI announces Retail Direct Scheme allowing investors to open Retail Direct Gilt Accounts
RBI Retail Direct Scheme allows retail investors to open RDG Account through Online Portal and access to primary issuance of Government securities and NDS- OM.
NFRA extends the last date for submission of public comments to 30th July, 2021 on Consultation Paper on Enhancing Engagement with Stakeholders.
National Financial Reporting Authority (NFRA) has set up a Technical Advisory Committee (TAC) to, inter alia, provide NFRA with inputs from the perspective of various key stakeholders. The TAC has undertaken a consultative exercise to review NFRA’s engagement with its stakeholders, and has, in its report of March, 2021, recommended ways to enhance the same.
IFSCA issues framework for Setting up and operating International Trade Finance Services platform (‘ITFS’)
The framework will enable Exporters and Importers to avail various types of trade finance facilities at competitive terms, for their international trade transactions through a dedicated electronic platform viz, ITFS. This will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.
RBI issues Roadmap for LIBOR Transition
London Interbank Offered Rate (LIBOR) will either cease to be provided by any administrator or no longer be a representative rate.
