MY REGULATORY UPDATES

Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2021

Legal Category: Exim

Rule ACT: Customs Act

Update Type: Amendment

Release Date: 15, Apr, 2021

Notification No: No. 44/2021-Customs (N.T.)

Description: Central Board of Indirect Taxes and Customs has issued Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2021 to further amend the provision of Sea Cargo Manifest and Transhipment Regulations, 2018.

Source: https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt44-2021.pdf;jsessionid=80925D116434F57F9627C159E8789E58

Maharashtra Government Issued Guidelines for the Restriction Imposed due to COVID-19

Legal Category: HR and Labour

Rule ACT: Shops and Establishment Act - Maharashtra

Update Type: Notification

Release Date: 15, Apr, 2021

Notification No: No.DMU/2020/CR. 92/DisM-1

Description: Department of Revenue and Forest, Disaster Management of Maharashtra has issued guidelines for the extention of the restrictions imposed due to COVID-19 throughout the state till 03-05-2021.

Source: https://cdn.s3waas.gov.in/s32b24d495052a8ce66358eb576b8912c8/uploads/2020/04/2020041716.pdf

Himachal Pradesh Government Issued Guidelines for the Restriction Imposed due to COVID-19

Legal Category: HR and Labour

Rule ACT: Shops and Establishments Act - Himachal Pradesh

Update Type: Order

Release Date: 13, Apr, 2021

Notification No: No. SML-ADM (L&O)/COVID-19-676-688

Description: National Disaster Management and District Magistrate of Shimla has issued guidelines for the restriction imposed due to COVID-19 throughout the state.

Source: https://cdn.s3waas.gov.in/s3b534ba68236ba543ae44b22bd110a1d6/uploads/2021/04/2021041346.pdf

Government of Rajasthan has Issued Guidelines for the Restriction Imposed due to COVID-19

Legal Category: HR and Labour

Rule ACT: Shops and Establishments Act - Rajasthan

Update Type: Order

Release Date: 14, Apr, 2021

Notification No: No. 33(2)Gr. 9/2019

Description: Government of Rajasthan has Issued Guidelines for the Restriction Imposed due to COVID-19 throughout the state from 16-04-2021 to 30-04-2021:
1. Night curfew has been imposed from 6:00 P.M to 5:00 AM and all markets, work places, professional complexes shall be closed by 5:00 PM.
2. All the government offices shall only be open till 4:00 PM.
3. Following are the exceptions on which night curfew will not be applied:
a. Factories which in which continuous production is going on
b. Factories in the night shifts
c. IT companies
d. Chemist Shops
e. Emergency and compulsory services
f. Wedding function
g. Medical services related workplace
h. Bus stand, railway station and airport oncoming travelers
i. Person employed for the loading and unloading of the goods
j. any other person permitted by government.

Source: https://covidinfo.rajasthan.gov.in/writereaddata/GovtOrders/04152021082535AMCovid_Guidelines_14042021.pdf

Government of Haryana has Issued Guidelines for the Restriction Imposed due to COVID-19

Legal Category: HR and Labour

Rule ACT: Shops and Establishments Act - Haryana

Update Type: Order

Release Date: 13, Apr, 2021

Notification No: Endst. No. 1234

Description: Government of Haryana has Issued Guidelines for the Restriction Imposed due to COVID-19 throughout state till 30-04-2021 which is as follows:
1. Vacations in Schools for the classes from 1 to 8
2. Closing of Anganwadi Centres and Creches.

Source: https://cdn.s3waas.gov.in/s32a79ea27c279e471f4d180b08d62b00a/uploads/2021/04/2021041332.pdf

Delhi Government has Issued Guidelines for the Restriction Imposed due to COVID-19

Legal Category: HR and Labour

Rule ACT: Shops and Establishment Act - Delhi

Update Type: Order

Release Date: 10, Apr, 2021

Notification No: No. F .1 .(589)/DDMA(HQ)/Misc. Matters/COVID/21/368

Description: Disaster Management of Delhi has issued guidelines for the restriction imposed due to COVID-19 throughout the territory till 30.04.2021. The following guidelines have been given:
1. Imposed Night Curfew on movement of individuals from 10:00 PM to 05:00 AM
2. All schools, colleges, educational, training, coaching institutions, social, political, sports, entertainment, cultural, religious festival related, other gatherings and congregations and swimming pool except for participation of National and International events will remain closed
3. All offices except related to health and other essential services shall work with 50% of attendance. Work from home is advised.
4. All Cinema Halls (Single Screens and Multiplexes)/Hotels/Restaurants to operate on 50% capacity
5. All Shopping Malls to adhere with guidelines
6. Transportation in Delhi Metro with 50% of capacity of metro coach
7. Not more than 50 people will be allowed to present for marriage
8. Not more than 20 people will be allowed to present for last rites
9. All Government offices of NCT of Delhi / Autonomous bodies / PSUs / Corporations / Local Bodies shall function with officers of the level of Grade-I /equivalent and above to the extent of 100% strength. The remaining staff will attend upto 50% as per requirement to be assessed by Head of Department.
10. Private offices/ organizations are advised to stagger the office timings and also stagger the presence and quantum of staff with an objective to reduce the number of employees attending office at the same time. They are further advised to follow the practice of work from home, as far as possible.

Source: http://ddma.delhigovt.nic.in/wps/wcm/connect/DOIT_DM/dm/home/covid-19/orders+of+ddma+on+covid+19/order+368

Exchange Rate of Conversion of Foreign Currencies

Legal Category: Exim

Rule ACT: Customs Act

Update Type: Notification

Release Date: 15, Apr, 2021

Notification No: No. 43/2021-Customs (N.T.)

Description: Central Board of Indirect Taxes and Customs has determined the new exchange rate of conversion of each foreign currencies related to imported and exported goods in the suppression of the Notification No.40/2021-Customs(N.T.), dated 1st April, 2021.

Source: https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt43-2021.pdf

Guidance Note with respect to Regulations 50(3) and 51(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Legal Category: SEBI

Rule ACT: SEBI (LODR)

Update Type: Circular

Release Date: 15, Apr, 2021

Notification No: No: NSE/CML/2021/02

Description: National Stock Exchange of India Limited has issued a Guidance Note with respect to the meeting of Board of Directors of Listed Entity {Regulations 50(3)} and Disclosure in case of Issuance of Non-Convertible Debt Securities and/or Non-Convertible Redeemable Preference Shares {Regulation 51(2)}.

Source: https://static.nseindia.com//s3fs-public/inline-files/NSE_Circular_15042021.pdf

Guidance Note with respect to Regulations 50(3) and 51(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Legal Category: SEBI

Rule ACT: SEBI (LODR)

Update Type: Circular

Release Date: 15, Apr, 2021

Notification No: No. 20210415-15

Description: Bombay Stock Exchange has issued a Guidance Note with respect to the meeting of Board of Directors of Listed Entity {Regulations 50(3)} and Disclosure in case of Issuance of Non-Convertible Debt Securities and/or Non-Convertible Redeemable Preference Shares {Regulation 51(2)}.

Source: https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20210415-15

Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2021

Legal Category: Corporate

Rule ACT: IBC (Information Utilities) Regulations

Update Type: Amendment

Release Date: 13, Apr, 2021

Notification No: No. IBBI/2021-22/GN/REG072

Description: Insolvency and Bankruptcy Board of India has issued Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2021 to further amend the provisions of Information Utilities Regulations.

Source: https://ibbi.gov.in/uploads/legalframwork/874c1870a61be056ec690a5ecb928ef0.pdf

Late Cut for MEIS Applications for Exports made in the Financial Year 2019-20

Legal Category: Exchange Control

Rule ACT: Foreign Trade Policy

Update Type: Notice

Release Date: 09, Apr, 2021

Notification No: No. 53 /2015-2020

Description: Ministry of Commerce and Industry has decided MEIS applications for Shipping bills with Let Export date from 01.04.2019 to 31.03.2020 can be submitted without any late cut up to 30.09.2021.

Source: http://egazette.nic.in/WriteReadData/2021/226528.pdf

SEBI Cautions Investors Against Impersonation

Legal Category: SEBI

Rule ACT: SEBI Act

Update Type: Press Release

Release Date: 12, Apr, 2021

Notification No: No.16/2021

Description: Securities and Exchange Board of India has advised Investors to beware of emails/any other communication impersonating employees of SEBI and refrain from responding to such emails/communication. The only official and genuine websites of SEBI, where an investor can file his/her complaint is https://scores.gov.in and members of the public are advised to be careful and not get misled by fake websites with similar addresses, fake logos / similar-looking domains and email ids, etc.

Source: https://www.sebi.gov.in/web/?file=https://www.sebi.gov.in/sebi_data/attachdocs/apr-2021/1618235246746.pdf#page=1&zoom=page-width,-16,571

SOP for applying +F Endorsement Certificate for Fortified Food Products in FosCos

Legal Category: Environmental, Occupational Health and Safety

Rule ACT: Food and Safety Standards Act

Update Type: Letter

Release Date: 12, Apr, 2021

Notification No: 45/+F logo/FFRC/Fortification/FSSAI-2019

Description: Food Safety and Standards Authority of India has modified the provision for applying endorsement of Fortified food products in FSSAILicense/Registration in Food Safety Compliance System (FosCos).

Source: https://www.fssai.gov.in/upload/advisories/2021/04/6075664fc329dLetter_Fortified_Food_FoSCoS_13_04_2021.pdf

Guidance for grant of License for manufacture or processing of Tapioca Sago and other Starches in the same premises

Legal Category: Environmental, Occupational Health and Safety

Rule ACT: Food and Safety Standards Act

Update Type: Letter

Release Date: 12, Apr, 2021

Notification No: File No. 4(31)2017/T.N./RCD/FSSAI

Description: Food Safety and Standards Authority of India has clarified that no prohibition on manufacturing of Tapioca Sago and other Standardized starches as per FSSR in the same premises after approporiate inspection and verification of the FSMS Plan and layout of the premises.

Source: https://www.fssai.gov.in/upload/advisories/2021/04/607413dbdd2e0Letter_Licence_Tapioca_Sago_12_04_2021.pdf

Madhya Pradesh Minimum Wages Notification (April 2021)

Legal Category: HR and Labour

Rule ACT: Minimum Wages Act - Madhya Pradesh

Update Type: Notification

Release Date: 01, Apr, 2021

Notification No: No 6/11/Others/Five/2015/9489-9688

Description: The Government of Madhya Pradesh has released minimum wages for the State of Madhya Pradesh effective from 1st April 2021.

Source: http://www.labour.mp.gov.in/KnowledgeSharing/Public/View_Document.aspx?id=5535

Uttarakhand Minimum Wages Notification (April 2021)

Legal Category: HR and Labour

Rule ACT: Minimum Wages Act - Uttarakhand

Update Type: Others

Release Date: 07, Apr, 2021

Notification No: NO- 1892/4-01/13

Description: The Government of Uttarakhand has released Minimum Wages for the state of Uttarakhand effective from 1st April 2021.

Source: https://labour.uk.gov.in/files/Order_3.PDF

Bihar Minimum Wage Notification (April 2021)

Legal Category: HR and Labour

Rule ACT: Minimum Wages Act - Bihar

Update Type: Others

Release Date: 31, Mar, 2021

Notification No: S.O 87

Description: The Government of Bihar has released Minimum Wages for the state of Bihar effective from 1st April 2021.

Source: https://state.bihar.gov.in/labour/cache/40/09-Apr-21/SHOW_DOCS/239_2_2021.pdf

Punjab Labour Welfare Fund (Haryana Amendment) Act, 2021

Legal Category: HR and Labour

Rule ACT: Labour Welfare Fund Act - Haryana

Update Type: Amendment

Release Date: 05, Apr, 2021

Notification No: No. Leg. 16/2021

Description: The Government of Haryana has issued the 'Punjab Labour Welfare Fund (Haryana Amendment) Act, 2021' to further amend the Punjab Labour Welfare Fund Act, 1965. As per the amendment sub-section (2) of Section 9-A of The Punjab Labour Welfare Fund Act,1965 is substituted and it read as "Every employer shall pay to the Fund both his contribution and the contribution of the employee before the 31st December of every year through online mode in favour of Welfare Commissioner."

Source: http://storage.hrylabour.gov.in/uploads/labour_laws/Y2021/April/W2/D09/1617960015.pdf

Implementation of Section 51A of UAPA, 1967 and Security Council Resolution: Updates to UNSC’s 1267/1989 ISIL (Da'esh) & Al-Qaida Sanctions List & Democratic People’s Republic of Korea (DPRK)Order, 2017

Legal Category: Finance

Rule ACT: RBI (Master Direction - Know Your Customer Guidelines)

Update Type: Circular

Release Date: 08, Apr, 2021

Notification No: RBI/2021-22/19DoR.AML.REC.03/14.06.001/2020-21

Description: Ministry of External Affairs (MEA) has now forwarded the Press Release issued by the United Nations Security Council (UNSC) Committee established pursuant to Resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da’esh), Al-Qaida, and associated individuals, groups, undertakings and entities regarding changes in the List of individuals and entities subject to the assets freeze, travel ban and arms embargo set out in paragraph 1 of UNSC resolution 2368 (2017), and adopted under Chapter VII of the Charter of the United Nations.

Source: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/19UAPA19671DBB0425664F459DA3459165A4337677.PDF

Method for Determination of Iron Filings in Tea

Legal Category: Environmental, Occupational Health and Safety

Rule ACT: Food and Safety Standards Act

Update Type: Order

Release Date: 07, Apr, 2021

Notification No: File No. 1-90/FSSAI/SP (MS&A)/2009

Description: Food Safety and Standards Authority of India has approved the method for determination of iron filings in tea.

Source: https://www.fssai.gov.in/upload/advisories/2021/04/606da49806f2dOrder_Method_Iron_Filling_Tea_07_04_2021.pdf

The Tribunals Reforms (Rationalisation and Conditions of Service) Ordinance, 2021

Legal Category: Intellectual Property Rights

Rule ACT: Trade Marks Act

Update Type: Ordinance

Release Date: 04, Apr, 2021

Notification No: No. 2 of 2021

Description: Ministry of Law and Justice has issued an Ordinance further to amend the Cinematograph Act, 1952, the Customs Act, 1962, Patents Act, 1970, the Copyright Act, 1957, the Airports Authority of India Act, 1994, the Trade Marks Act, 1999 and the Protection of Plant Varieties and Farmers’ Rights Act, 2001 and certain other Acts.

Source: https://copyright.gov.in/Documents/Pdf/Tribunals_Reforms__Rationalisation_And_Conditions_Of_Service__Ordinance__2021.pdf

The Tribunals Reforms (Rationalisation and Conditions of Service) Ordinance, 2021

Legal Category: Intellectual Property Rights

Rule ACT: Copyright Act

Update Type: Ordinance

Release Date: 04, Apr, 2021

Notification No: No. 2 of 2021

Description: Ministry of Law and Justice has issued an Ordinance further to amend the Cinematograph Act, 1952, the Customs Act, 1962, Patents Act, 1970, the Copyright Act, 1957, the Airports Authority of India Act, 1994, the Trade Marks Act, 1999 and the Protection of Plant Varieties and Farmers’ Rights Act, 2001 and certain other Acts.

Source: https://copyright.gov.in/Documents/Pdf/Tribunals_Reforms__Rationalisation_And_Conditions_Of_Service__Ordinance__2021.pdf

XBRL based Annual Secretarial Compliance Report filings for Listed Companies at NSE

Legal Category: SEBI

Rule ACT: SEBI (LODR)

Update Type: Circular

Release Date: 08, Apr, 2021

Notification No: No: NSE/CML/2021/10

Description: National Stock Exchange of India Limited has introduced the facility of filing of Annual Secretarial Compliance Report under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in XBRL mode in addition to the filing in PDF mode. All Listed companies are required to submit the Annual Secretarial Compliance Report in XBRL mode only (along with PDF).

Source: https://static.nseindia.com//s3fs-public/inline-files/NSE_Circular_08042021.pdf

Asset Classification and Income Recognition following the Expiry of Covid-19 Regulatory Package

Legal Category: Corporate

Rule ACT: RBI(COVID-19 – Regulatory Package)

Update Type: Circular

Release Date: 07, Apr, 2021

Notification No: RBI/2021-22/17 DOR.STR.REC.4/21.04.048/2021-22

Description: The Reserve Bank of India has decided that Lending Institutions shall disclose the aggregate amount which to be refunded/adjusted in respect of their borrowers based on the reliefs in their financial statements for the year ending March 31, 2021.

Source: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI175218C22A16A44DCDAA17A278476B00A0.PDF