INFORM: Infrastructure Projects & Finance, Feb 2025
CASE LAWS
Delay in Filing Export Documents Does Not Disqualify Export Credit: Bombay HC
The Hon’ble High Court of Bombay, in a recent ruling in the case of Jindal Cocoa LLP vs. Reserve Bank of India (2025 SCC OnLine Bom 21) dated January 3, 2025, held that credit extended to exporters cannot be disqualified as “export credit” solely due to a delay in submitting export documents that otherwise prove timely materialisation of exports.
SC Reiterates Limited Scope of HC Writ Jurisdiction in IBC Cases
The Hon’ble Supreme Court of India recently, in the case of Mohammed Enterprises (Tanzania) Ltd. Versus Farooq Ali Khan & Ors (2025 SCC OnLine SC 23), dated January 3, 2025, overturned an order of the Hon’ble High Court of Karnataka interdicting a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC).
Environmental Protection Takes Priority Over Development in Coastal Regulation Zone Case: Kerala HC
A Division Bench of the Hon’ble High Court of Kerala, in the case of Kerala Coastal Zone Mangement Authority v P. M. Sukhilesh and Others, dismissed an appeal challenging the judgment of the High Court of Kerala to quash the permission granted by the Coastal Regulation Zone Authority (CRZA) for constructing a public crematorium in a dense mangrove forest.
Gujarat High Court Clears Panjrapole Flyover Project, Upholds Administrative and Expert Decisions
The Hon’ble High Court of Gujarat in the case of Dharini Shah & Ors. v State of Gujarat & Ors. (C/WPPIL/43/2024), dated January 17, 2025, recently dismissed a Public Interest Litigation (PIL) challenging the construction of a flyover at the Panjrapole Junction in Ahmedabad.
SC Clarifies Civil Court Jurisdiction in Property Disputes Amid SARFAESI Proceedings
The Hon’ble Supreme Court of India in the case of Central Bank of India v. Smt. Prabha Jain (2025 SCC OnLine SC 121) dated January 9, 2025, held that civil courts retain jurisdiction over property ownership disputes, even during Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) proceedings.
NOTIFICATIONS/CIRCULARS
RBI Clarifies NaBFID Participation in Financial Markets as an AIFI
The Reserve Bank of India (RBI) has issued Circular RBI/2024-25/101, clarifying that the National Bank for Financing Infrastructure and Development (NaBFID) is permitted to participate as an All-India Financial Institution (AIFI) in financial markets by updating the master directions on credit derivatives and directions on repo transactions.
RBI Revises Guidelines on Settlement of Dues by Asset Reconstruction Companies
The Reserve Bank of India (RBI) has announced revised guidelines for the settlement of dues payable by borrowers of Asset Reconstruction Companies (ARCs). These updates, outlined in Paragraph 15 of the Master Direction-Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024, aim to streamline the process and ensure transparency in settlements.
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RBI Issues Master Direction on NonResident Investment in Debt Instruments, 2025
TThe Reserve Bank of India (RBI) has issued the Master Direction on Non-Resident Investment in Debt Instruments, 2025, consolidating the Foreign Exchange Management (Permissible Capital Accounts Transactions) Regulations, 2000, borrowing and lending regulation 2018, debt instruments regulation, 2019 and necessary directions in the form of A.P. (DIR Series) Circulars.
RBI Issues Master Direction on Credit Information Reporting
In a move aimed at streamlining credit information reporting and ensuring greater transparency, the RBI has issued the "Master Direction—Reserve Bank of India (Credit Information Reporting) Directions, 2025" dated January 6, 2025. The master directions consolidate existing guidelines and lay down uniform standards for credit reporting by regulated entities, including banks, financial institutions, and nonbanking financial companies (NBFCs).
Insurance Surety Bonds Accepted for Mobilization Advance in EPC Contracts: NHAI
The National Highways Authority of India (NHAI) has issued a new policy circular, Policy Circular No. 3.1.41/2025, dated January 2, 2025, regarding the inclusion of provisions for accepting Insurance Surety Bonds (ISBs) for Mobilization Advance in EPC (Engineering, Procurement, and Construction) contracts.
RBI Aligns HFC Regulations with NBFC Norms for Private Placement of NCDs
The Reserve Bank of India (RBI) has issued a circular dated January 29, 2025, aligning the guidelines for the private placement of non-convertible debentures (NCDs), with maturity more than one year, by housing finance companies (HFCs) with those applicable to non-banking financial companies (NBFCs). This move aims to create a uniform regulatory framework and enhance transparency in fundraising activities by HFCs.
RBI Updates Directions on Foreign Investments in India
In a move aimed at streamlining credit information reporting and ensuring greater transparency, the Reserve Bank of India (RBI) has issued the "Master Direction—Reserve Bank of India (Credit Information Reporting) Directions, 2025" dated January 6, 2025.
MNRE Issues Few Operational Guidelines Under Rooftop Solar Scheme
The Ministry of New and Renewable Energy (MNRE) has issued operational guidelines on the ‘Payment Security Mechanism’ component and ‘Central Financial Assistance’ component for RESCO Models/Utility-Led Aggregation Models under PM-Surya Ghar: Muft Bijli Yojana. The implementation period of the scheme is till March 31, 2027.
Guidelines Issued to Boost Battery Swapping Ecosystem
On January 11, 2025, the Ministry of Power notified Guidelines for Installation and Operation of Battery Swapping and Charging Stations aimed at meeting the requirements of electric vehicles (EV) with integrated batteries.
Disclaimer: The information provided herein is for general informational purposes only and is not intended to constitute legal advice.
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