Corporate Law notification

Benefit of two years weightage of service to the EPF members

No: Pension-Pen-I/3/4/2016/MOL&E/2/5684 (21/06/2017)

Several references have been received from the field offices that cases where two years weightage was given where the past service comes out to 20 years, the new application software while generating the worksheet has reduced the past service benefits in comparison to that calculated in legacy software. The matter has been examined and th...

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Filling up of posts up to the grade of ITO on ad-hoc basis

Notification No. F.No. A_35015/36/2016-Ad.VI (19/06/2017)

I am directed to refer to the subject mentioned above and to say that during the meeting of representatives of ITGOA and ITEF under the Chairmanship of Chairman, CBDT, held on 27052017, one of the Issues discussed was 'adhoc' promotion on functional basis against the vacancies arising after promotion to Assistant Commissioner of Income Ta...

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Vessel sharing agreements on liner shipping outside CCI purview for 1 Year

Notification No. S.O. 1933(E). (16/06/2017)

Central Government, in public interest, hereby exempts the Vessels Sharing Agreements of Liner Shipping Industry from the provisions of section 3 of the said Act, for a period of one year with effect from the 20th June, 2017...

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IBBI Fast Track Insolvency Resolution Process for Corporate Persons Regulations, 2017

IBBI/2017-18/GN/REG 012 (14/06/2017)

An insolvency professional shall be eligible to be appointed as a resolution professional for a fast track process of a corporate debtor if he, and all partners and directors of the insolvency professional entity of which he is a partner or director, are independent of the corporate debtor....

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IBBI notifies debtors for fast track corporate insolvency resolution process

Notification No. S.O. 1911 (E) (14/06/2017)

Central Government hereby notifies that an application for fast track corporate insolvency resolution process may be made in respect of the following corporate debtors under section 55 of the Insolvency and Bankruptcy Code, 2016...

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IBBI notifies Fast Track Insolvency Resolution Process

Notification No. S.O.1910(E) (14/06/2017)

Central Government appoints 14th day of June, 2017 as date on which provisions of section 55 to 58 (both inclusive) of Insolvency and Bankruptcy Code, 2016 shall come into force....

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Cabinet clears Bill to deal with crisis in banks, insurers

Press Release No. PIB Release/DL/981 (14/06/2017)

The Financial Resolution and Deposit Insurance, Bill 2017 when enacted, will pave the way for setting up of the Resolution Corporation. It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill....

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IBBI (Inspection and Investigation) Regulations, 2017

Notification No. No. IBBI/2017-18/GN/REG011 (12/06/2017)

(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. (2) These regulations shall come into force on the date of their publication in the Official Gazette....

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Definition of International Worker under EPF scheme 1952

Notification No. File No. IWU/7/(25)/2017/ Clarification reg. Para 83/ (08/06/2017)

An Indian employee will be treated as International Worker only when (i) he has worked or is going to work in a foreign country with which India has entered into Social Security Agreement and (ii) he is eligible to avail the benefits under a social security programme of the said foreign country....

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Disbursement of benefits to eligible EPF members under PMRPY/PMPRPY Schemes

Notification No. CAIU/011(71)2016/MOT (08/06/2017)

EPFO has been nominated as the nodal organisation for implementation of the PMRPY/PMPRPY Scheme vis-à-vis verification of the credentials of the eligible beneficiaries and payment of benefits to them in accordance with the guidelines of PMRPY/PMPRPY schemes besides creating awareness for maximum outreach of the PMRPY/PMPRPY...

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