DELHI HIGH COURT

Govt to set up appellate panels to redress grievances of social media users (DEC 20, 2022)

The submission was made before Justice Yashwant Varma who was hearing a batch of petitions concerning the suspension and deletion of accounts of several social media users, including Twitter users.

After rule 3 of the IT Rules, rule 3A has been inserted which says “Appeal to Grievance Appellate Committee(s)”, a gazette notification issued by the Ministry of Electronics and Information Technology (MeitY) said.  

As per the newly inserted rule, the Central government shall, by notification, establish one or more Grievance Appellate Committees within three months from the date of commencement of the IT Amendment Rules, 2022.

NEWS REPORT : social media grievances: Govt to set up appellate panels to redress grievances of social media users - The Economic Times (indiatimes.com)

Air India is no longer subject to writ jurisdiction, says Delhi HC (DEC 28, 2022)

The Delhi High Court has refused to entertain a plea against Air India by the Indian Airlines Officers Association seeking pay and allowance arrears, saying the airline has ceased to be a government-controlled company and is no longer amenable to its writ jurisdiction.

Counsel for Air India said the airline has been privatised and the entire shareholding of the Government of India has been transferred to a wholly owned subsidiary of Tata Sons Pvt. Ltd and, therefore, the petition cannot lie under Article 226 of the Constitution as Air India was no longer a public body.

NEWS REPORT : Air India is no longer subject to writ jurisdiction, says Delhi HC | Business Standard News (business-standard.com) 

RBI

Minutes of the Monetary Policy Committee Meeting, December 5-7, 2022 (DEC 21, 2022) 

The fortieth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held during December 5-7, 2022. The MPC reviewed the surveys conducted by the Reserve Bank to gauge consumer confidence, households’ inflation expectations, corporate sector performance, credit conditions, the outlook for the industrial, services and infrastructure sectors, and the projections of professional forecasters. 

The MPC also reviewed in detail the staff’s macroeconomic projections, and alternative scenarios around various risks to the outlook.

NOTIFICATION : Reserve Bank of India - Press Releases (rbi.org.in)

FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA (FSSAI)

Food Safety and Standards (Vegan Foods) Amendment Regulations, 2022 (DEC 21, 2022) 

The draft regulations has proposed the change relating to the design of logo on packages of vegan foods. Objections and suggestions, if any, may be addressed to the Chief Executive Officer, Food Safety and Standards Authority of India.

The said draft regulations shall be taken into consideration after the expiry of the period of sixty days from the date of publication.

GAZETTE NOTIFICATION : 241292.pdf (egazette.nic.in)

BANKING AND INSURANCE

Bank fraud: CBI files FIR against Corporate Power (DEC 23, 2022) 

The CBI has filed an FIR against Corporate Power Limited and its directors for alleged bank fraud of ₹4,000 crore, officials said. The agency searched 16 locations on Thursday in multiple cities, including Nagpur, Mumbai, Ranchi, Kolkata, Durgapur, Ghaziabad, and Vishakhapatnam, they said. 

The Kolkata-based company had allegedly committed a bank fraud of ₹4037.87 crore involving a consortium of 20 banks.

DETAILS : Bank fraud: CBI files FIR against Corporate Power - The Hindu BusinessLine

Employee union of public general insurers threatens to go on strike on Jan 4 (DEC 30, 2022)

The Joint Forum of Trade Unions (JFTU) of general insurance companies alleged that the proposed restructuring would weaken the public sector entities.  The proposed restructuring involves the closure and merger of offices, including profitable offices, and imposition of Key Performance Indicator (KPI), the JFTU said in a statement.

The Chief Labour Commissioner has called a conciliation meeting on January 2 to resolve the issue and avoid the strike.

NEWS REPORT : Employee union of public general insurers threatens to go on strike on Jan 4 | The Financial Express

ONLINE GAMING INDUSTRY

State governments to oversee law for online games in their jurisdictions (DEC 29, 2022)

The regulations will be "light-touch" for gaming intermediaries. They will be reportedly asked to appoint grievance redressal executives and nodal contract executives. The report added that the rules will be introduced by mid-January and public consultations will be invited.

The Centre may also ask the states to not ban the games outright but "penalise them" in case of serious offences. The companies will be asked to maintain proper Know-your customer (KYC) norms. For in-game add-ons, the companies will also be asked to deploy additional methods of scrutiny.

On Monday, the IT ministry was appointed as the nodal ministry for regulating online gaming in India. The Ministry of Youth Affairs and Sports was made the nodal agency for regulating eSports.

NEWS REPORT : State governments to oversee law for online games in their jurisdictions | Business Standard News (business-standard.com)

NCLAT

NCLAT sets aside CCI order on DLF, remanded back directing to examine (DEC 25, 2022)

The NCLAT has set aside an order passed by fair trade regulator Competition Commission of India (CCI) with respect to DLF and directed it to examine the matter. The case pertains to CCI rejecting a complaint against DLF and its subsidiary for alleged abuse of the dominant position on the basis of a second/supplementary report from DG.

The matter pertains to Regal Garden in Sector 90, DLF Garden City, Gurugram, where an informant had complained against the realty firm alleging the clauses in the buyer-seller agreement reflected abuse of dominance by DLF Home Developers.

DETAILS : cci: NCLAT sets aside CCI order on DLF, remanded back directing to examine - The Economic Times (indiatimes.com)

NEWS AT GLANCE 

  • Myanmar military court extends Aung San Suu Kyi's jail term by seven more years, making it 33 overall. 
  • Election Commission proposes remote voting for inter-state migrants.  
  • India Australia Economic and Cooperation Trade Agreement comes into force.

WORD OF THE DAY 

Vox populi – Voice of the people.

MARKET TODAY (as on 30.12.2022)

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1 US Dollar = 82.62 Indian Rupee (Last updated · 30 December at 2:56 pm UTC)

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