UPDATES
Food-tech platforms: Are they liable for bad biryani? The answers
Introduction For dealing with e-commerce and food-tech entities, the food regulator of India i.e., Food Safety and Standards Authority of India (“FSSAI”) has time and again operationalized the specific parts of the Food Safety and Standards (Licensing and Registration of Food Business) Amendment Regulations, 2018 (“2018 Regulations”) issued under the Food Safety and Standards Act, 2006…Media & Technology Laws: “Following” The Twitter Conflict
We had shared a note on the media law amendments which we had stated were “game-changing.” We will navigate the bitter Twitter conflict on this very amendment here: The Government of India has inter alia noted the following violations by Twitter in its press release dated May 27, 2021. A. Non-appointment of an India-based…MEDIA LAWS: INFORMATION TECHNOLOGY (INTERMEDIARY GUIDELINES AND DIGITAL MEDIA ETHICS CODE) RULES, 2021
Effective February 25, 2021, the law has stepped up the responsibilities of social media and news portals. This is via an entirely fresh set of rules: the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“2021 Rules”). These rules do not amend but simply replace the Information Technology (Intermediaries Guidelines) Rules, 2011…UPDATE: MARCH 2021 CCI ORDER ON ALLEGED COMPETITION LAW VIOLATIONS BY WHATSAPP AND FACEBOOK
This update has been prepared to set out the key observations of the Competition Commission of India (“CCI”) In Re: Updated Terms of Service and Privacy Policy for WhatsApp Users against WhatsApp LLC and Facebook, Inc., Suo Moto Case No. 01 of 2021 dated 24 March 2021. Background The CCI was of the opinion that…UPDATE: JANUARY 2021 CCI ORDER ON ALLEGED COMPETITION LAW VIOLATIONS BY ICICI BANK
This update has been prepared to set out the key observations of the Competition Commission of India (“CCI”) In Re: Pramod Mahajan and ICICI Bank, Case No. 52 of 2020 dated January 27 2021. The main allegation concerned the unilateral nature of the adjustable interest rate of the housing loan availed by the informant from…UPDATE: SEBI PRESS RELEASE ON DECISIONS OF SEBI BOARD MEETING
This update has been prepared to set out the key takeaways from the SEBI press release [PR No.52/2020 dated 29 September 2020] which records the decision of the SEBI board meeting held on September 29, 2020 (“SEBI Press Release”). The effective amendments are expected to be issued shortly. The key take-aways from the SEBI Press…COMPETITION LAW: DOMINANT POSITION- INDIAN TRENDS, THE UBER WAY
In the long and lively series of orders involving the taxi-aggregator space, there has been remarkable inconsistency. Except in one area: what qualifies as “dominant”. This has been changed in a single stroke by the Supreme Court in Uber India Systems Private India Ltd. v. Competition Commission of India & Ors. (Civil Appeal No. 641…AIFS: FEBRUARY 5, 2020 SEBI AMENDMENT
This note has been prepared to set out the key takeaways from Securities and Exchange Board of India (“SEBI”) Circular no. SEBI/HO/IMD/DF6/CIR/P/2020/24 dated February 5, 2020. In the circular, SEBI has instituted the following reforms aimed at streamlining disclosure standards in the AIF space: Templatisation of preliminary placement memorandum: The private placement memorandum (“PPM”) template…UPDATE: SEBI ADJUDICATION ORDER ON CIRCULATION OF UPSI WITH RESPECT TO MINDTREE LIMITED
The Securities and Exchange Board of India (“SEBI”) vide its Adjudication Order No. Order/BD/VS/2020- 21/7825 dated 29 May 2020 (“Order”) in the matter of circulation of unpublished price sensitive information (“UPSI”) through WhatsApp messages with respect to Mindtree Limited (“Mindtree”) under Section 15-I of SEBI Act, 1992 (“Act”) read with Rule 5 of SEBI (Procedure…InFintech
REGULATORY SANDBOX FOR RETAIL PAYMENTS
This update sets out the details of the Reserve Bank of India‟s (RBI) press release dated 4 November 2019 with respect to the regulatory sandbox for retail payment solutions (Sandbox Press Release). Enabling framework The RBI had released a report titled “Enabling Framework for Regulatory Sandbox” dated 13 August 2019 (Sandbox Report) where it had…E-KYC, AADHAAR AND SEBI: SEBI’S NOVEMBER 5, 2019 CIRCULAR
On November 5, 2019 the Securities and Exchange Board of India has issued an important circular in relation to eKYC authentication under Section 11A of the Prevention of Money Laundering Act, 2002 (“Circular”). Paragraph 8 of the Circular states that the entities in the securities market „as may be notified by the Central Government‟ are…Copyright © 2021 Verist Law