Tag Archives: AHLAWAT & ASSOCIATES

ILN Today Post

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.

Read full article
ILN Today Post

Changes in MSME Act under Economic Package announced by Union FM

Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, the Union Finance Minister Nirmala Sitharaman announced the following changes in the MSME sector to promote the motto of Self Reliant India and boost the economic status of the Country.

Read full article
ILN Today Post

Key takeaways from the Economic Package announced by Union FM

Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, the Union Finance Minister Nirmala Sitharaman announced the following changes in the various other sectors to promote the motto of Self Reliant India and boost the economic status of the Country.

Read full article
ILN Today Post

Changes in IBC under Economic Package announced by Union FM

Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, the Union Finance Minister Nirmala Sitharaman announced the following changes in the Insolvency Bankruptcy Code (“IBC”) sector to promote the motto of Self Reliant India and boost the economic status of the Country.

Read full article
ILN Today Post

FDI changes in Defence Sector under Economic Package announced by Union FM

Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, the Union Finance Minister Nirmala Sitharaman announced the following changes in the Defence Sector to promote the motto of Self Reliant India and boost the economic status of the Country.

Read full article
ILN Today Post

Amendments under Companies Act in Economic Package announced by Union FM

Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, the Union Finance Minister Nirmala Sitharaman announced the following amendments in the Companies Act 2013, to promote the motto of Self Reliant India and boost the economic status of the Country.

Read full article
ILN Today Post

Highlights of speech by Union Finance Minister

A day after Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, today the Union Finance Minister Nirmala Sitharaman addressed a press conference in New Delhi thereby elaborating the Government’s plans in achieving the aim of self-reliant India.

Read full article
ILN Today Post

Changes in Labour Laws to reduce COVID-19 impact

Amidst the COVID-19 induced lockdown, many states such as Uttar Pradesh, Madhya Pradesh, Rajasthan, and Gujarat have brought in changes to their labour laws by way of amendments. Recently, Uttar Pradesh government has passed an ordinance by virtue of which businesses and both existing and new industrial units have been exempted from the purview of most labour law provisions for the next three years. The state cabinet cleared the labour law ordinance suspending more than 30 kind of labour laws in the state. Nonetheless, the four laws that will still apply to businesses and industries are the Building and Other Construction Workers Act, Section 5 of Payment of Wages Act, Workmen Compensation Act and Bonded Labour Act.

Read full article
ILN Today Post

Government nod must for all FDI from neighbouring countries

The Department for Promotion of Industry and Internal Trade (DIPPT) under the supervisions of Ministry of Commerce & Industry (MCI) issued the Press Note. 3 (2020) reviewing the Foreign Direct Investment (“FDI”) policy with the aim to curb opportunistic takeovers/acquisition of Indian companies due to the current Covid-19 pandemic. During the current lockdown period, it has been observed in the media and news articles, that the neighboring countries of India are investing in stake of various Indian Companies such as China’s central bank recently raised stake in Housing Finance Development Corporation (HDFC) to a little over 1 percent. Therefore, in order to regulate such acquisitions and keep a check, the Government has reviewed the extant FDI policy in order to curb the opportunistic takeovers/acquisitions of Indian companies due to the current pandemic.

Read full article
ILN Today Post

COVID-19 related Frequently Asked Questions (FAQs) on Corporate Social Responsibility

Taking into account the references/representations received from various stakeholders seeking clarifications on eligibility of CSR expenditure related to COVID-19 activities, a set of FAQs along with clarifications has been provided by the Ministry of Corporate Affairs (“MCA”) for better understanding of the stakeholders vide its General Circular No. 15/2020 dated 10th April 2020.

The brief overview of the clarifications issued by MCA are as follows:

Read full article