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Delhi High Court Seeks Reply From RBI, SEBI, NPCI On Plea Seeking Regulation Of GooglePay, AmazonPay, PhonePe Etc

The Delhi High Court sought reply from the Ministry of Law, Finance Ministry, RBI, SEBI, and National Payments Corporation of India (NPCI) on a public interest litigation seeking regulation of the entry and operations of “tec-fin” companies like GooglePay, AmazonPay, PhonePe and others. The petition, which has been filed by an applied economist, Reshmi P Bhaskaran, seeks the High Court to direct inter alia that these “TechFin” companies be allowed to operate in the country only after having their registered offices here, their necessary approval/ registration from the appropriate financial regulators, the formulation of a strict framework for their entry and operation through any mode (including partnerships with existing financial entities), and their mandatory statutory audit.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.