Asia Pacific

National Education Policy 2020 – Reforms in Indian School Education System

Rote learning, the bane of Indian education, is finally being shown the door and is proposed to be replaced by competency-based learning and development of students which tests higher-order skills such as analysis, critical thinking and conceptual clarity. The long-awaited National Education Policy 2020 (“NEP 2020”), was announced by the Union Cabinet on July 29, 2020. The NEP 2020 is promoted as the first education policy of the 21st century with an objective of revising and revamping the Indian education structure and move towards creation of new system that is aligned with the aspirational goals of 21st century education. NEP 2020 is based on the principle that education must not be restricted to development of cognitive skills i.e., ‘fundamental skills’ of literacy and numeracy and ‘higher-order’ cognitive skills such as critical thinking and problem solving. Instead the education system must focus on development of ‘soft skills’ of a child, i.e. social and emotional skills including cultural awareness and empathy, perseverance and grit, teamwork, leadership and communication.

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E-COMMERCE ENTITIES IN INDIA – APPLICABLE REGULATIONS

The Ministry of Consumer Affairs, Food and Public Distribution through the Department of Consumer Affairs has issued the Consumer Protection (E-Commerce) Rules, 2020 under the Consumer Protection Act, 2019 vide notification bearing number G.S.R. 462(E) on July 23, 2020 (“E-Commerce Rules”) to regulate the operations of e-commerce entities in India in a fair and transparent manner and to protect the rights and interest of consumers. The gazette copy of the E-Commerce Rules can be accessed here [http://egazette.nic.in/WriteReadData/2020/220661.pdf].

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INDIAN SATELLITE COMMUNICATION POLICY: THE RECENT REFORMS

After years of missed opportunities, the Government of India has opened the doors to the vast untapped opportunities of private sector participation in the Indian space program. The Central Government has recently approved far reaching reforms in the space sector aimed at boosting private sector participation in the entire range of space activities with the aim of making India self-reliant in space technology.

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New draft e-commerce policy soon to be in the public domain

To enable the Government of India (“Govt”) to have quick and easy access to data flowing on the e-commerce platforms in the country such as Flipkart, Amazon, YouTube, Facebook, etc., the Department for Promotion of Industry and Internal Trade (“DPIIT”) will soon roll out a new Ecommerce Policy (“Policy”) wherein the regulations on issues such as security, law and order, law enforcement, taxation and safety of individuals are provided in a detailed manner.

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China’s Multitrillion-dollar Opportunity: The world’s second-largest asset management market is opening up to international players

Introduction
The third decade of the 21st century has had a bumpy start. With a global pandemic, the fraying US-China relationship, Brexit, massive changes to the geo-political situation, market turmoil, a looming recession and various other uncertainties, the world is in a state of flux. Apart from staying calm and trying to distinguish truth from fiction, there is always an opportunity riding within a crisis. Read more…

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ILN Bankruptcy, Insolvency & Rehabilitation Proceedings Guide

The members of our Restructuring & Insolvency Group have finalized their 2020 edition of the Bankruptcy, Insolvency & Rehabilitation Proceedings Guide, which can be found here.

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INSIGHT INTO THE BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS IN INDIA

INTRODUCTION

The Insolvency and Bankruptcy Code, 2016 (“Code”), ever since its introduction, has replaced India’s archaic bankruptcy laws and has paved way for a much speedier resolution of insolvency proceedings and debt restructuring, benefiting operational and financial creditors, both onshore and offshore in India. The code is still in its initial years and dynamic in nature, as the Government of India keeps introducing new amendments as per the evolving and challenging circumstances of the nation.

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Ahlawat & Associates appoints Ms. Kavita Patwardhan as Counsel, Mumbai Practice (Head)

Despite the economic slowdown ensuing after the outbreak of the COVID-19 pandemic leading to India’s looming job crisis, Ahlawat & Associates is pleased to announce the introduction of a new member into their team.

The firm on 1st June 2020 inducted Kavita Patwardhan as Counsel, Mumbai Practice (Head). With over fifteen years of experience in law, Kavita has previously worked with Kanga & Co., Dua Associates and J. Sagar Associates. Kavita’s practice area covers General Corporate Commercial matters, Banking and Finance, in particular Project Finance, Media and Entertainment, Intellectual Property Rights and Real Estate. She particularly specializes in Banking and Finance Media and Entertainment, Intellectual Property Rights and Real Estate.

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MSME definition further revised by Union Cabinet

Subsequent to the revisions made in the definition of MSMEs during the INR 20 lakh crores economic package announcement made in May 2020, the government on Monday i.e. 01st June 2020 further revised the definition of MSMEs.
From now on, enterprises with investments up to INR 50 crore with a turnover of less than INR 250 crore will now be defined as ‘medium’ units. Whereas under the economic stimulus package, the revised definition for medium enterprises was kept at a turnover of INR 100 crore and investment up to INR 20 crores. Below is the tabular representation of the definition of MSMEs classification:
Micro Enterprises
Enterprises with an investment less than INR 1 crore and turnover less than INR 5 crore turnover
Small Enterprises
Enterprises with an investment less than INR 10 crore and turnover less than INR 50 crore turnover
Medium Enterprises
Enterprises with an investment less than INR 50 crore and turnover less than INR 250 crore turnover
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Llinks Client Alert – Antitrust and Competition (June 2020)

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