INFORM: Infrastructure, Projects & Finance – July 2024

The highlights of the current issues are:

Case laws:

• Provision of Clear and Justified Reason for Rejection of Bid Fundamental to Transparency in Tender Process
• Invalid Cheques do not Attract Liability Under Section 138 Of NI Act
• Developmental Projects Cannot Be Stopped on the Basis of Unverified Claims
• Final Approval of Resolution Plan Extinguishes All Prior Claims

Notifications/circulars:

• RBI Revises Definition of Bulk Deposits
• RBI Amends Master Directions on Priority Sector Lending
• RBI Expands Facility for International Trade Settlement in Indian Rupees
• RBI Updates Foreign Exchange Management Guidelines for Overseas Investments
• New Guidelines for Shoulder Widths on National Highways Announced

Quick Reads:

• SEBI Relaxes Timelines for Foreign Portfolio Investors’ Disclosures
• IBBI Issues New Guidelines for Appointing Insolvency Professionals
• RBI Cancels License of Purvanchal Co-operative Bank, Initiates Liquidation Process
• IRB Infra Sees ₹2,656 Crore Block Deals as Cintra Offloads 6.8% Stake
• HTL and Affiliates Penalised for Delisting and Disclosure Violations