Followers

Saturday 31 October 2020

SEBI Settlement Scheme 2020 extended till 31.12.2020

 SEBI Settlement Scheme 2020 extended till 31.12.2020

 SEBI on 31st day of October, 2020 has issued Public notice in respect of Extension of the SEBI Settlement Scheme 2020.

 ·         Extension Came: In this Notice, Upon  consideration  of  the  same,  the  competent  authority  has  approved  the  extension  of the period of the Scheme till December 31, 2020, In view of the large scale disruption caused by the Covid-19 pandemic, many representations were received by SEBI, seeking extension of the period of the Scheme

 ·         Previous Period: commenced on August 01, 2020 and was to end on October 31, 2020.

 ·        About the SEBI Settlement Scheme 2020: Background:

 Vide  public  notice  dated  July  27,  2020,  SEBI  has  introduced  the  Settlement  Scheme  (“the Scheme”) which proposes to provide a onetime settlement opportunity to those entities that have executed  trade  reversals  in  the  stock  options  segment  of  BSE  during  the  period  from  April  01, 2014 to September 30, 2015 and against whom enforcement proceedings have been approved by SEBI

 Source: https://www.sebi.gov.in/media/public-notices/oct-2020/public-notice-in-respect-of-extension-of-the-sebi-settlement-scheme-2020_48049.html


Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

Wednesday 21 October 2020

MCA Relaxation u/s 149 for FY 2020-21 related Minimum Residency Period

MCA Relaxation u/s 149 for FY 2020-21 related Minimum residency Period

Ministry of Corporate Affairs vide General Circular no. 36/2020 dated 20 October, 2020 has issued circular regarding Special measures under the Companies Act 2013 and LLP Act 2008 In view of COVID-18 outbreak- Extension –reg.

In continuation to General Circular No. 11/2020 dated 24th March, 2020, keeping in view the requests received from various stakeholders seeking relaxation from the residency requirement of 182 days in a year and after due examination, it is hereby clarified that Non Compliance of Minimum residency in India for a period of at least 182 days in a year, by at least one director in every Company, under section 149 of the Companies Act, 2013 shall not be treated as non – compliance  for the Financial Year 2020-21 also.

Source: http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.36_20102020.pdf

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

Sunday 18 October 2020

FOOD LAWS Updates dt. 18.10.2020 !! SUNDAY

 Key Updates under Food Laws: 18.10.2020 !! Sunday

1. The Food Safety and Standards (Laboratory and Sample Analysis) Second Amendment Regulations, 2020. 

Food Safety and Standards Authority of India vide F.No. 11023/24/2017-QA, Gazette id CG-DL-E-17102020-222539 dated 17th October, 2020 has notified the Food Safety and Standards (Laboratory and Sample Analysis) Second Amendment Regulations, 2020 further to amend the Food Safety and Standards (Laboratory and Sample Analysis) Regulations, 2011.

r Key Highlights:

Comparative Analysis:

Regulation

The Food Safety and Standards (Laboratory and Sample Analysis) Regulations, 2011.

 

The Food Safety and Standards (Laboratory and Sample Analysis) Second Amendment Regulations, 2020

 

 

Reg. 2.1.1

The sample of any imported article will be sent by Authorized Officer for analysis to the Food Analyst of any of the laboratories authorized for this purpose by the Food Authority from time to time having jurisdiction over the area in which the sample was taken.

“The sample of any imported article will be sent by the Authorised Officer for analysis to the food analyst of any of the laboratories notified by Food Authority under section 43(1) of Food Safety and Standards Act, 2006.”

 

 

Reg. 2.2.2

State/ Union Territory/ Local Area of Referral Laboratory

The Food Authority shall authorize laboratories to carry out function of referral laboratory for specified areas and to carry out such other functions as entrusted to it by the Food Authority under the Act.

State/Union Territory of Referral Laboratory

The Food authority shall authorise laboratories to carry out function of referral laboratory that are notified by Food Authority under section 43(2) of Food Safety and Standards Act, 2006.”

Clause 3 of Reg. 2.3

The fees payable in respect of such certificate shall be Rs. 1000 per sample of food analysed or as prescribed by the Food Authority

The fees payable for such test or analysis of sample of food shall be as prescribed by the Food Authority from time to time.”

Source: Click Here

 2. Ministry of Health and Family Welfare propose to finalize Food safety and Standards (Amendment) Bill 2020

A draft Food Safety and Standards (Amendment) Bill has been prepared and attached herewith for comments/suggestions of the General Public/Stake Holders.

General Public/Stake Holders may submit their comments/suggestions via email at neeraz.s@nic.in within 30 days from the date of uploading ofthe Public Notice.

Source: https://main.mohfw.gov.in/sites/default/files/Meta%20date%20.pdf

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

MSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML)

MSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML)

r Key highlights:

Ø  MSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML) strengthening its Single Window System Portal ‘Champions’ to assist MSMEs of the country

Ø  Ministry implements AI & ML tools to get insights into MSME related issues and grievances for their quick and effective resolution;

Ø  AI & ML analytics can be seen at the “AI Corner” at following link on Ministry’s champions portal.

Ø  Link: Click here 

Msme Ministry has implemented AI & ML on its robust Single Window System 'Champions' which was launched by the Prime Minister on 1st June, 2020. This multi-modal system has a portal at virtual level and technology equipped physical control rooms at around 69 locations of the country. It has emerged as one of the front runner platforms for the MSMEs in a very short span of time.

Ministry has implemented Artificial Intelligence (AI) and Machine Learning (ML) on their Champions portal. Technology Company Intel is their partner in this journey.

r About AI:

Ø  AI is the idea of making machines capable of thinking, acting, and learning like humans.

Ø  It has an ability to enable machines to Learn, Adapt & Do which “Rule-based (MIS) Automations” cannot.

r Implementation of AI:

1.      AI has started giving the MSME Ministry social media insights relating to MSMEs for its policy action through Facebook, Twitter, Instagram, Blogs, Forums and online News which were not available to us on holistic basis;

2.      Ministry says that till now, for grievance redressal, we were dependent on the complaints and data which comes to and through our CHAMPIONS portal. Now, we are able to know the pulse of the entire MSME Sector even without the stakeholders going to our portal; 

3.      Ministry officials say that now it will be possible to know the emotions of the people involved with or dependent on the MSME sector in real time;

4.      Moreover, AI tools present Data-driven insights that are easy to understand. They can slice and dice data in many ways which are not available in traditional tools of Information Management Systems (MIS);

5.      This allows even our ordinary staff, not just specialists, to easily discover actionable points.

6.      The data Analytics can be easily shared as real-time live-data links with the teams at Central (Hub level) and spokes of CHAMPIONS Control Rooms spread all over India, an officer said;

7.      Ministry feels that now onwards, the AI is going to do the tedious work of preparing data for analysis; thus, freeing up their human resources to engage in more productive work.

r MSME Ministry has started:

       Enabling and Optimizing their Champions portal with AI & Analytics technology to derive insights;

  This is helping them in understanding the issues in real-time which includes information intelligence and sentiment analysis based on widely available Social media and Online data.

       This input & intervention will enhance our information resources on the one hand and free our human resources on the other, an office said.

       Ministry of MSME also said that now the next phase is relatively easier for which the trial is on. The second phase would be directed towards real-time grievance redressal and management. This includes:

       Increasing the performance of control rooms & officers through AI enabled Chat Bots for faster response to the query of portal users;

       Give Real-time, detailed analytics across entire workflow of its single window system and grievance redressal through Champions portal for effective resolution and greater stakeholder satisfaction.

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

Wednesday 7 October 2020

Labour Law Compliance Calendar _ October, 2020

 


Compliance under Other Statutory LAws

 

 

Applicable Laws/Acts

 

 

Due Dates

 

Compliance Particulars

 

Forms / (Filing mode)

EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)

 

15.10.2020

 

PF Payment

 

ECR

 

ESIC (Employees' State Insurance Act, 1948)

 

15.10.2020

ESIC Payment

 

ESI Challan

 

 

Contract Labour (Regulation &Abolition) Act, 1970

 

Within 15 Days of commencement/ completion of contract work

Return/Notice within 15 days of commencement/ completion of each contract by the Principal employer

Form VI-B

 

 

Payment of Gratuity Rule

Within 30 Days of applicability of the Act & any change

Notice of applicability of the Act & any change

Form A or B

q Key Update:

1. From 15th Feb.,2020, new Companies registered through MCA Portal, www.mca.gov.in need not comply with provisions of ESI Act till they reach threshold limit of ESI coverage or initial 6 months whichever is earlier. For further details  login to ' www.esic.in . Submission of Mobile Number and Bank Account details(Bank Name, Branch Name & IFSC) shall be mandatory for registration of New employee. For more updates:  Click here

2. Labour ministry clarification: Changes in labour laws will not trigger rampant hiring and firing of workers

Parliament had last week passed the three labour bills related to industrial relation, social security and occupational safety, health and working conditions. Following this, all trade unions including the RSS-affiliate Bhartiya Mazdoor Sangh have opposed the bills saying they will firm up plans to protest against these bills in coming days.

the ministry said that fixed-term employment has already been notified by the central government and 14 other states.

“The migrant workers will also be able to enjoy the benefits of portability in respect of ration and avail benefits from building and other construction cess,” it said, adding that they will also get all other benefits of ESIC, EPFO and annual medical check-up etc.

 

3. 15 states seek approval for changes in three labour laws from Centre

According to minister labour minister Santosh Gangwar, reforms in labour laws is a continuous process. Therefore, Central and State Governments strive on a regular basis to update the legislative system as per the need of the hour.

As many as 15 states have reached out to the Centre seeking approval for changes in three labour laws in order to significantly improve the ease of doing business in the country and attract more and more investors into their states.

These include Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Odisha, Punjab, Tripura, Uttarakhand and Uttar Pradesh.

q Updates TRACKER under Labour LAws:


Sl. No.

Particulars

Link

1

670 new electric buses and 241 charging stations sanctioned under FAME scheme

Click here

2

More than a million mandays of employment generated by Indian Railways under Garib Kalyan Rozgar Abhiyaan

Click here

3

Distribution of Free Foodgrains and Pulses to Migrant Labourers

Click here

 

 

 

4

Lok Sabha passes 3 Historic and path breaking Labour Codes

Shri Gangwar elaborates several ‘Game Changer’ labour welfare provisions in the Labour Codes

Social Security net of ESIC and EPFO to Widen opening up for all workers and self-employed

 

 

 

Click here

 

5

Government had endeavoured to balance the rights and obligations of employees and the employers in the Labour Codes : Shri Gangwar

 

Click here

 

6

13.63 Lakh Children Mainstreamed through Special Training Centers Set Up Under NCLP: Shri Gangwar

 

Click here

7

Relief Package for Unemployed Labourers

Click here

8

President Kovind gives nod to 3 farm bills cleared by Parliament

Click here

9

Package to Check Unemployment Rate

Click here

10

Launch of virtual hearing in quasi-judicial cases under EPF & MP Act, 1952 heralds an era of providing expeditious and affordable adjudication

 

Click here

11

Increase in Employment under MGNREGA

Click here

12

Implementation of MGNREGS during COVID-19 Pandemic

Click here

13

Garib Kalyan Rojgar Abhiyan

Click here

14

Union Government has taken unprecedented measures for labour welfare and employment generation across India during Covid-19 pandemic

 

Click here

15

Steps taken to ensure safety of healthcare and other health workers of hospitals

Click here

16

ESIC issues instructions for submission of claims for Unemployment Benefit under Atal Bimit Kalyan Yojana

Click here

17

Measures for welfare of Pensioners during COVID-19

Click here

18

Contract for Old Pension Scheme

Click here

19

All-India Consumer Price Index Numbers for Agricultural And Rural Labourers – August, 2020

Click Here

20

Job Cards to Migrant Labourers and Employed Workers

Click Here

21

Shri Gangwar Introduces Three Labour Codes in Lok Sabha Heralding The Path of Game Changing Labour Welfare Reforms in The Country

 

Click Here

22

Monitoring of Welfare Measures

Click here

23

Reimbursement of OPD medicines Special sanction in view of Covid 19

Click here

24

Permission for conducting Personal Hearing in the cases registered u/s 45AA through video conferencing.

Click here

25

Submission of Revised Estimates 2020-2021 and Budget Estimates 2021-2022

Click here


This article is updated till 30th September, 2020 with all Laws / Regulations and their respective amendments.                                                           


----------------------------------------------THE END------------------------------------------

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

OPC Annual Filing 2023

OPC Annual Filing 2023: Key Summary q   Define One Person Company: Sec 2(62) "One Person Company" means a company which has on...