Article
Fact Check Unit amendment invalidated – Intermediaries in the line
The article discusses a recent decision of the Bombay High Court striking down the amendment to Rule 3(1)(b)(v) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2023. The Rule required intermediaries to remove content relating to Government business flagged by a Fact Checking Unit as fake, false, or misleading. Elaborately examining the decision, wherein the issue was referred to the third Judge due to contrary views of the two Hon’ble Judges, the author (Aryashree Kunhambu) notes that it remains unclear as to what constitutes the exercise of ‘reasonable efforts’ by an intermediary to prevent the dissemination of certain types of content. The author in this regard also notes that due to the establishment of FCUs in certain States Intermediaries now face the task of navigating varying regulations and enforcement standards across different States, which also poses significant risks to open discourse.
Notifications and Circulars
- Foreign Portfolio Investor Outreach Cell launched by SEBI
- Timeline reduced for debt securities and non-convertible redeemable preference shares
- Insurers allowed to adopt Ind AS 104 till IRDA notifies Ind AS 117 – Companies (Indian Accounting Standards) Rules, 2015 amended
- FEMA – Directions notified for compounding of contraventions under FEMA, 1999
- Compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 relaxed
- Timelines for disclosures by Social Enterprises on Social Stock Exchange extended
- Due diligence requirements of investors and investments of Alternative Investment Funds notified
- E-adjudication exemption – Companies (Adjudication of Penalties) Rules, 2014 amended
- Shareholding norms of Market Infrastructure Institutions – Framework notified for monitoring
- Liquidity window facility introduced for investors in debt securities through Stock Exchange mechanism
Ratio decidendi
- Third party cannot be permitted to participate in the pre-admission stage of a petition filed under IBC Section 7 – NCLT Mumbai
- Limitation period to prove title by adverse possession commences when possession of the Defendant becomes adverse, and not from the date when Plaintiff gained property ownership – Supreme Court
- Auction Sale cannot be unilaterally cancelled without hearing the auction purchaser – Supreme Court
- Pendency or subsequent initiation of Arbitration Proceedings is immaterial when the Insolvency Petition is pending for admission – NCLAT New Delhi
- High Courts’ jurisdiction under Articles 226 and 227 of the Constitution cannot be invoked in relation to the procedural orders passed by an Arbitral Tribunal – Delhi High Court
News Nuggets
- Data protection – Government is not exempt from the DPDA Act
- Consumer protection – Guidelines issued to prevent greenwashing
- Consumer protection – Cab aggregator directed to provide refund options to consumers
- Drivers of cab aggregators whether are ‘employees’ under PoSH – Karnataka HC Division Bench stays Single Bench decision
