The Insurance Regulatory and Development Authority of India (Issuance of e-Insurance Policies) Regulations, 2016 ( e-Insurance Regulations ) governs the issuance of electronic policy and submission of electronic proposal form of insurance policies.   “E-insurance policy” or electronic insurance policy” means a policy document which is an evidence of insurance contract issued by an insurer and digitally signed in accordance with the applicable provisions prescribed by law and issued in an electronic form either directly to the policyholder by the insurer or through the platform of registered Insurance repository.   As per Regulation 3 of the e-Insurance Regulations, every insurer soliciting insurance business through electronic mode shall create an e-proposal form similar to the physical proposal form approved by the Authority. The e-Insurance Regulations mandate that, every such insurer, shall also make available physical version of the e-proposal form. Per Regulation 4(...

Pursuant to the reforms suggested by Department for Promotion of Industry and Internal Trade (“ DPIIT ”) towards ease of doing business [1] , the Directorate of Industrial Safety and Health, Chennai vide Memorandum No. B1/9391/2020 dated 29 August 2020 (“ Memo ”) had circulated a memorandum directing the subordinate officers of the directorate to automate the renewal of below mentioned licenses through submission of online applications on an non-discretionary basis: S.No. License to be renewed under different labour laws. Existing procedure for procuring license renewal. Latest procedure as per Memo to procure license renewal. 1.        Factory license under Factories Act, 1948 read with Rule 7 of the Tamil Nadu Factories Rules, 1950. The occupier of every factory licensed under Rule 4, shall submit to the Deputy Chief Inspector of Factories having jurisdiction over the area...

I. Introduction  On August 6, 2020, the Reserve Bank of India (“ RBI ”) promulgated a special regulatory package - Resolution Framework for Covid-19-related Stress (“ Covid Resolution Framework ”). This package has been introduced because several Indian borrowers have been adversely affected by the pandemic and are facing difficulties in servicing their debt obligations. The moratorium imposed by the RBI has provided some breathing space to such borrowers, but once that expires, several borrowers may need to restructure their debts as they recover from the havoc Covid-19 has created in their businesses. Lenders also need an effective and flexible restructuring tool for Covid-related defaults and the existing Prudential Framework for Resolution of Stressed Assets dated June 7, 2019 (“ June 7 Framework ”) of the RBI may not cater to their needs arising specifically out of the pandemic. The Covid Resolution Framework applies to personal loans as well corporate loans. However, in this ...

According to Section 135 of the Companies Act, 2013 ( Act ), every company having  (i) net worth of rupees five hundred crore or more, or (ii) turnover of rupees one thousand crore or more, or  (iii) a net profit of rupees five crore or more, during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee ( CSR Committee ) of the Board. Among other functions, the CSR Committee formulates and recommends the Corporate Social Responsibility ( CSR ) Policy which shall indicate the activities to be undertaken by the company in areas or subject specified in Schedule VII of the Act. According to the Companies (Corporate Social Responsibility Policy) Rules, 2014 ( CSR Policy Rules ), Rules 2(e), CSR  Policy relates to activities to be undertaken by the company in areas or subject  specified in Schedule VII of the Act and the expenditure thereon, excluding activities undertaken in pursuance of normal course of business of a company...