November 2015 issue of Corporate Amicus carries an article on proposed Environment Laws (Amendment) Bill, 2015, and explains the objective and challenges behind the move by Ministry of Environment, Forest and Climate Change (MoEFCC). According to the author, by establishing a separate adjudicating authority for decisions on environmental violations, the Bill only adds another layer of bureaucracy. It is stated instead the MoEFCC should look to expand its capacity in technical and judicial competence as well as in providing viable implementation infrastructure.
Notification & Circular section of this Amicus includes several notifications like announcement of FDI reforms in various sectors and definition of the term ‘manufacture’. Arbitration and Conciliation (Amendment) Ordinance, 2015 has been promulgated to introduce several changes to the Arbitration & Conciliation Act, 1996 and SEBI (Issue of Capital and Disclosure Requirements) Rules, 2009 have been amended to modify the Form for ‘Disclosures in Abridged Prospectus’. Further, this section also highlights a circular issued by SEBI to streamline the process of public issue of equity shares and convertibles.
Ratio Decidendi section covers Securities Appellate Tribunal (SAT) Order holding that an appeal against the failure of SEBI to act under the provisions is maintainable under Section 15T of SEBI Act, 1992. Further, Competition Commission of India (CCI) has held that existence of an agreement causing appreciable adverse effect on competition may be inferred from various practices of the Members of the industry.
