Amendment to Para 2.08 of HBP 2023 – Merger of ANF-1A with Revised ANF-2A
The previous procedure under the Handbook of Procedures 2023 required applicants to file details in a standalone ANF-1A form during IEC (Importer-Exporter Code) application. This
Modifications to Chapter IV & Updated Reporting Timelines for Debenture Trustees
SEBI has amended Chapter IV of the Debenture Trustee (DT) Master Circular to clarify the creation and utilisation of the Recovery Expense Fund (REF), aiming to streamline enforcement actions during issuer default.
CBDT launches 2nd NUDGE initiative to strengthen voluntary compliance in respect of Foreign Assets
CBDT receives foreign financial asset data of Indian residents under CRS and FATCA. Using this information, high-risk cases are identified where foreign assets reported by partner jurisdictions do not match disclosures made in filed ITRs
XBRL-based filing of Regulation 50 for non-convertible securities
SEBI amended Regulation 50 of the LODR Regulations on December 13, 2024 to mandate that listed entities with non-convertible securities submit “Prior Intimation of Meeting for Debt” disclosures in XBRL format, subject to guidelines specified by the stock exchanges
Patents (Amendment) Rules, 2025 – Introduction of Adjudication & Appeal Mechanism
The Government previously circulated draft rules to amend the Patents Rules, 2003, proposing a formal mechanism for adjudicating penalties and appeals for contraventions under the Patents Act. These drafts were published on July 16, 2025, inviting objections and suggestions within thirty days.
The amendment inserts an entirely new Chapter XIV-A into the Patents Rules, 2003, creating a structured system for adjudicating penalties and handling appeals for contraventions under sections 120, 122, and 123 of the Patents Act. It defines the adjudicating officer and appellate authority, introduces a digital complaint mechanism through Form 32, and sets out a time-bound inquiry process that starts with an electronic show-cause notice giving a minimum seven-day response window. The adjudicating officer can conduct hearings in person or through legal representatives, proceed ex parte if the person fails to appear, and is not required to follow the Bharatiya Sakshya Adhiniyam, 2023. Inquiries must be completed within three months, and penalty orders must be reasoned, digitally signed, and uploaded online. An appeal mechanism has been established through Form 33, requiring appeals to be filed electronically within sixty days, extendable for sufficient cause, with the appellate authority expected to conclude proceedings within six months. All communications must be electronic, authorities may extend timelines for recorded reasons, and all penalties collected will be credited to the Consolidated Fund of India. The Second Schedule has been updated to include the two new forms—Form 32 for complaints and Form 33 for appeals.
Karnataka Platform Based Gig Workers (Social Security and Welfare) Rules, 2025
The Government of Karnataka has finalised the Karnataka Platform Based Gig Workers (Social Security and Welfare) Rules, 2025 after considering public objections and suggestions received on the draft rules published on June 30, 2025.
RBI Notification – Updated FAQs on Digital Rupee (e₹)
The Reserve Bank of India has released an updated set of Frequently Asked Questions (FAQs) on the Digital Rupee (Central Bank Digital Currency – CBDC). These updated FAQs consolidate operational, technical and usage-related clarifications for both retail (e₹-R) and wholesale (e₹-W) CBDC pilots, which are currently active across selected banks and institutions.
Menstrual Leave Policy, 2025 – One Day Paid Leave per Month for Women Employees
The Government of Karnataka constituted an Expert Committee to examine whether women employees across all factories, commercial establishments and other registered workplaces should be granted menstrual leave.
Exemption for IT/ITES & Knowledge-Based Industries from Standing Orders Act
The Government of Haryana has exercised its powers under Section 14 of the Industrial Employment (Standing Orders) Act, 1946 to grant a temporary exemption to IT/ITES and other knowledge-based industries.
Capital Gains Accounts (Second Amendment) Scheme, 2025
The Central Government has issued amendments to the Capital Gains Accounts Scheme, 1988 to modernise the scheme, expand its statutory coverage and integrate electronic modes for deposits, withdrawals, documentation and account closure.