INFORM: Infrastructure, Projects & Finance – April 2024

The highlights of the current issues are:

Case laws:

• Complaint Against Bounced Cheque to Be Filed Within One Month of Cause of Action
• Refund of Interest Cannot Be Sought After Consenting to Terms in Loan Agreement
• Bank May Enter into One Time Settlement with Borrower if Auction Sale Not Confirmed
• Deductions From Performance Security to Be Made Within Period Specified in Contract
• Limitation For Loan Recovery Suit to Be Computed from Date of Issuance of Loan Recall Notice

Notifications/circulars:

• Agreements with Card Networks for Issuance of Credit Cards
• Master Direction on Card Issuance and Conduct Guidelines for 2022 Amended
• Additional Performance Security in Case of Abnormally Low Bid
• Ministry of Road Transport and Highways amends Model Concession Agreements for BOT and TOT Models
• RBI Revises Regulations for Bank Investments in Alternative Investment Funds
• Government Mandates Bridge Sensor Installations

Quick Reads:

• RBI Prohibits JM Financial from Providing Loans Against Shares and Debentures
• NaBFID is Required to Establish a Credit Enhancement Facility
• Cintra to Acquire a 24% Stake in IRB Infra Trust from GIC
• NaBFID and Axis Bank to lend Rs 3,790 Crore to DP World for Building Box Terminal at Tuna-Tekra
• RBI Broadens Monitoring of Credit ‘Exuberance’
• RBI Imposes Penalties on Tamilnad Mercantile Bank and DCB Bank for Violating Regulations
• NHIT Raises Over Rs 16,000 Crore for NHAI Road Acquisition