Latest news with #Regulations
The Hindu
7 hours ago
- Business
- The Hindu
IBBI amends regulations to further streamline corporate insolvency resolution process
The Insolvency & Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2025 that aim to further streamline and strengthen corporate insolvency resolution process. As per the amended regulations notified on May 26, which come into effect immediately, the resolution professional — with the nod of Committee of Creditors (CoC) — can invite expression of interest for submission of resolution plans for a company under insolvency process either as a whole, or for sale of one or more of assets of the company, or for both. By enabling concurrent invitations, the resolution process will see reduced timelines, prevent value erosion in viable segments, and encourage broader investor participation, IBBI said. Where a resolution plan will provide for payment in stages, the financial creditors who did not vote in favour of the resolution plan shall be paid at least pro rata and in priority over financial creditors who voted in favour of the plan, in each stage. This approach balances the legitimate rights of dissenting creditors with the practical constraints of phased implementations, it said. Resolution professionals are now required to present all resolution plans received, including those that are non-compliant, to the CoC along with relevant details. CoC has been empowered to direct the resolution professional to invite the providers of interim finance to attend CoC meetings as observers without voting rights, IBBI said.
The Hindu
8 hours ago
- Business
- The Hindu
Draft regulations on renewable energy propose peer-to-peer energy trading
A decentralised mechanism where individual power producers or groups can directly buy and sell electricity using an online platform is among the highlights of a draft regulation on renewable energy published by the Kerala State Electricity Regulatory Commission (KSERC) for stakeholder feedback. Peer-to-Peer (P2P) energy trade allows prosumers – electricity consumers who are also producers – to sell surplus energy from renewable sources such as solar power through an online P2P platform using blockchain or other approved technologies, according to the Draft KSERC (Renewable Energy and Related Matters) Regulations, 2025. At present, choices before the prosumers are limited to banking the surplus energy with the distribution licencee, the Kerala State Electricity Board (KSEB) in Kerala's case. In a full-fledged P2P energy trading system, a prosumer will be able to sell the surplus electricity using the distribution and transmission networks of the licencee by paying the prescribed charges. The draft notes that the P2P energy trading platform should be operated by an authorised service provider or the distribution licencee by meeting the technical standards and safety requirements. Onboarding participants Anybody who is interested in buying renewable energy via P2P transactions has to register with the platform. The draft requires the distribution licensee to facilitate the onboarding of participants and ensure the seamless integration of P2P transactions within the grid. 'The distribution licensee shall act as the nodal agency for monitoring, regulating and facilitating P2P energy transactions within its jurisdiction,' the draft said. It is also the licencee's duty to address operational challenges arising out of P2P trading, such as making sure that the grid remains stable. Commission sources described P2P trading as akin to open access, but a more democratised version of it. Open access gives consumers the right to buy power from the supplier of their choice using existing distribution and transmission networks. This mechanism, however, has the condition that the minimum volume of power is 1 megawatt (MW).
Business Upturn
16 hours ago
- Business
- Business Upturn
Suprajit Engineering completes second tranche of Stahlschmidt Cable Systems acquisition
By News Desk Published on May 31, 2025, 10:23 IST Suprajit Engineering Limited on Saturday announced the successful completion of the second tranche of its acquisition of Stahlschmidt Cable Systems (SCS), marking the conclusion of the entire transaction. In a regulatory filing to the exchanges, the company said it has signed the closing memorandum for the asset and business acquisition of SCS's China and Canada operations, completing the second stage of the deal. This follows the company's earlier press release dated June 9, 2024, and company announcement dated July 16, 2024, regarding the acquisition of SCS out of insolvency proceedings in Germany. 'With this, the entire SCS transaction has successfully concluded,' Suprajit said in its filing, made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Stahlschmidt Cable Systems is a global player in control cable systems, and the acquisition is expected to enhance Suprajit's international footprint. News desk at
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Business Standard
a day ago
- Business
- Business Standard
IVCA urges legacy VCFs to act fast on Sebi's one-time migration window
India's top private capital industry body is calling on legacy venture capital funds (VCFs) to act swiftly on a key regulatory deadline, warning that delays could disrupt compliance and fund governance. The Indian Venture and Alternate Capital Association (IVCA) on Friday urged VCFs registered under the now-defunct SEBI (Venture Capital Funds) Regulations, 1996, to migrate to the Alternative Investment Fund (AIF) regime by 19 July 2025. The migration is part of a framework unveiled by the Securities and Exchange Board of India (SEBI) in August 2024. 'This is a critical regulatory window for legacy VCFs to realign with the current AIF framework,' said Rajat Tandon, President, IVCA. 'The migration framework introduced by SEBI not only offers operational clarity but also provides a structured path for managing residual assets and ensuring regulatory compliance.' Under the new framework, qualifying VCFs, including those with unliquidated investments or expired schemes not yet wound up, have been granted a one-time window to transition into a new sub-category called Migrated Venture Capital Funds (MVCFs). The framework includes incentives such as fee waivers, a simplified re-registration process, and tailored compliance requirements. 'Despite regulatory clarity and incentives provided under this framework, the response to the said scheme is understood to be tepid. This low uptake is a cause for concern,' said IVCA. The industry body has called on all legacy VCFs, particularly those still holding residual assets, to promptly assess their eligibility and submit applications to the regulator for migration under the new framework before the given deadline. It also advised funds that have completed winding up or have not made any investments to formally surrender their registrations. The migration effort is part of SEBI's broader agenda to streamline fund structures and enhance investor protection, as India positions itself as a global fund management hub.
India Today
2 days ago
- Business
- India Today
Food regulator warns against using 100% on labels, packages: Here's why
India's top food safety authority has issued a strong advisory cautioning food businesses against using the term "100%" on packaging, labels, and advertisements, calling it potentially misleading and legally Food Safety and Standards Authority of India (FSSAI), announced on Thursday that the use of "100%" has seen a noticeable rise across food products in the this expression is not defined under the Food Safety and Standards (FSS) Act, Rules, or Regulations, and its usage can give consumers a false impression of absolute purity, quality, or The regulator explained that using terms like "100%" or similar absolute claims can mislead consumers into believing that other comparable products are of lesser quality or non-compliant with food safety language, though appealing in marketing, does not align with the statutory requirements of the FSSAI advisory warns that using "100%" may amount to false advertising unless the term is specifically defined and backed by evidence under existing has invoked two specific provisions from the Food Safety and Standards (Advertising and Claims) Regulations, 2018: Sub-regulation 4(1), which states that all claims made on food labels or advertisements must be truthful, unambiguous, not misleading, and should help consumers make informed 10(7): Prohibits any claim or advertisement that undermines other products or misleads consumer emphasised that any numerical or absolute terms, especially without giving a definition, violate these provisions by introducing advisory follows FSSAI's earlier stand before the Delhi High Court, where it stated that describing fruit juices as '100% fruit juice' is not legally permissible and constitutes a misleading marketing its affidavit submitted in June 2024 in response to a plea by Dabur, the food safety body maintained that expressions like "100%" fall outside the legal framework and lack any statutory backing, making such claims unlawful under current food Watch
