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Government Reduces Rate of ESI Contribution from 6.5% to 4%

G.S.R. 423(E) (13/06/2019)

The Government of India has taken a historic decision to reduce the rate of contribution under the ESI Act from 6.5% to 4%(employers’ contribution being reduced from 4.75% to 3.25% and employees’ contribution being reduced from 1.75% to 0.75%). Reduced rates will be effective from 01.07.2019.This would benefit 3.6 crore employees and ...

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Cabinet approves Special Economic Zones (Amendment) Bill, 2019 

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved to introduce a Bill, namely, the Special Economic Zones (Amendment) Bill, 2019 that is the Bill to replace the Special Economic Zones (Amendment) Ordinance, 2019 (12 of 2019).  The Bill will be introduced in ensuing session of the Parliament....

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Posted Under: Corporate Law |

Aadhaar cannot be made compulsory unless provided by law

Making Aadhaar people friendly  No individual to be compelled to provide proof of Aadhaar number unless provided by law Aadhaar number on voluntary basis to be accepted as KYC document Cabinet approves The Aadhaar and Other Laws (Amendment) Bill, 2019  In a major move aimed at making Aadhaar making people friendly, the Union Cabinet, ch...

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Posted Under: Corporate Law |

CCI imposes penalty on Chemists & Druggists Association & Pharmaceutical Companies 

Competition Commission of India (‘Commission’) has found Madhya Pradesh Chemists and Druggist Association (‘MPCDA’), Indore Chemists Association (‘ICA’), Himalaya Drug Company (‘HDC’) and Intas Pharmaceuticals Limited (‘IPL’) along with some of their office bearers/officials to be in contravention of the provisions of ...

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Posted Under: Corporate Law |

Traders & Farmers to get pension coverage : Major Decision by Govt

In Some Major decisions Government has decided to give pension coverage to Traders, PM-KISAN Scheme extension to include all eligible farmer families irrespective of the size of land holdings and Pension scheme to secure lives of 5 crore farmers in three years. 1. Traders to get pension coverage! Cabinet clears pension scheme for traders ...

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Posted Under: Corporate Law |

List of Ministers with Department allotted in Modi Government

RASHTRAPATI BHAVAN PRESS COMMUNIQUE The President of India, as advised by the Prime Minister, has directed the allocation of portfolios among the following members of the Union Council of Ministers:- Shri Narendra Modi Prime Minister and also in-charge of: Ministry of Personnel, Public Grievances and Pensions; Department of Atomic Energy;...

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Posted Under: Corporate Law |

Website of Lokpal inaugurated 

The Website of the Lokpal was inaugurated by the Chairperson, Justice Shri Pinaki Chandra Ghose in presence of all the Members of Lokpal today.  The DG, NIC, Smt. Neeta Verma was also present on the occasion.  The Website has been developed by NIC and provides the basic information with respect to the working and functioning of the Lokp...

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Posted Under: Corporate Law |

Insolvency Professionals to act as Interim Resolution Professionals and Liquidators (Recommendation) Guidelines, 2019

Insolvency Professionals to act as Interim Resolution Professionals and Liquidators (Recommendation) Guidelines, 2019 14th May, 2019 Provisions in the Insolvency and Bankruptcy Code, 2016 Section 16(3)(a) of the Insolvency and Bankruptcy Code, 2016 (Code) requires the Adjudicating Authority (AA) to make a reference to the Insolvency and ...

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Posted Under: Corporate Law |

Discussion on Amendments to IBBI (Insolvency Professionals) Regulations, 2016

Insolvency and Bankruptcy Board of India 12th May, 2019 Discussion Paper Amendments to the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. The Insolvency and Bankruptcy Code, 2016 (Code) provides for a class of regulated professionals, namely, Insolvency Professionals (IP), who constitute one of the...

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Posted Under: Corporate Law |

Draft amendments to (Information Utilities) Regulations & Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations

IBBI Discussion Paper on Amendments to (i) the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017; and (ii) the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016....

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Posted Under: Corporate Law |