INFORM: Infrastructure, Projects & Finance – June 2024

The highlights of the current issues are:

Case laws:

• Rehabilitation Award for Acquisitions Under NH Act to be Passed by Competent Authority
• Arbitral Awards Cannot be Set Aside Unless Patent Illegality is Clearly Proved
• Infrastructure Development Must Co-Exist in Compliance with Environmental Law
• Interest Free Loans Provided to Bank Employees Are Taxable as Perquisites
• Recovery Proceedings Under SARFAESI Act Applicable to Housing Finance Companies

Notifications/circulars:

• RBI Amends Risk Management and Inter-Bank Dealings Rules
• RBI Issues New Guidelines on Margins for Derivative Contracts Following Market Feedback Review
• RBI Mandates Regularisation of Partly Paid Units Issued by AIFs to Foreign Investors
• NHAI issues Circular on Land Acquisition Laws
• RBI Issues Draft Guidelines on Prudential Framework for Project Loan Advances
• SEBI Issues Master Circular on Non-Convertible Securities and Related Instruments
• SEBI Releases Comprehensive Master Circular for Infrastructure Investment Trusts

Quick Reads:

• RBI Directs NBFCs to Adhere to Rs 20,000 Cash Limit for Gold Loans
• SEBI Proposes Relaxing Disclosure Requirements for Non-Convertible Securities
• MNRE Clarifies ALMM Order Applicability to Solar Projects
• SEBI Introduces Major Amendments to InvIT Regulations, Including Subordinate Units Framework
• RBI Imposes Supervisory Actions on ECL Finance and Edelweiss ARC for Regulatory Breaches
• RBI Fines HSBC Rs 36.38 Lakh for FEMA Violations
• SEBI Imposes Rs 5 Lakh Fine on AGI Greenpac for Disclosure Failures
• RECPDCL Transfers Two SPVs for Power Transmission Projects
• SEBI Launches Settlement Calculator
• RBI Permits Opening of Rupee Accounts Abroad
• SEBI Penalizes Five Entities, Bars for Three Years