Notifications & Circulars
Press Information Bureau
03.01.2018
Civil
Cabinet approves MoU between India and 'Transport for London', United Kingdom to improve Public Transport in India
MANU/PIBU/0011/2018
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing and implementation of the Memorandum of Understanding (MoU) between Ministry of Road Transport & Highways and 'Transport for London', a statutory body established under the Greater London Authority Act, 1999 (UK) to improve Public Transport in India. The MoU will help to improve the overall public transport system in the country, improve passenger services and promote the use of high capacity buses in India. It will go a long way in strengthening ties and promoting bilateral relations between India and United Kingdom. The MoU will help in strengthening the integrated public transport for all. This will help people from poorer strata of the society to have access to a quality public transport system.
Tags : MoU Approval Improvement Public Transport
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Press Information Bureau
03.01.2018
Civil
Cabinet Committee on Economic Affairs (CCEA) approves extension of norms for mandatory packaging in Jute Materials
MANU/PIBU/0010/2018
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for mandatory packaging of foodgrains and sugar in the jute material for the Jute Year 2017-18. The decision would sustain the core demand for the jute sector and support the livelihood of the workers and farmers dependent on the sector. The Jute Year 2017-18 period is from 1st July 2017 to 30th June, 2018.
Features:
The CCEA has extended the mandatory packaging norms under the Jute Packaging Material (JPM) Act, 1987.
The approval mandates that 90% of the food grains and 20% of the sugar products shall be mandatorily packed in jute bags.
The decision also mandates, in the first instance, the entire requirement for packing of food grains would be placed in jute bags thus, making a provision for 100% packing of food grains in jute bags subject to the ability of the jute industry to meet the requirement.
Impact:
The decision will benefit farmers and workers located in the Eastern and North Eastern regions of the country particularly in West Bengal, Bihar, Odisha, Assam, Andhra Pradesh, Meghalaya and Tripura.
Measures taken by Government to give a boost to Jute industry:
Jute industry is predominantly dependent on Government sector which purchases jute products more than Rs. 5,500 crore every year. Considering that nearly 3.7 lakh workers and approximately 40 lakh farmers are dependent for their livelihood on the jute sectors, the government has been making concerted efforts for the development of jute sector; increasing the quality and productivity of raw jute, diversification of jute sector and also boosting and sustaining demand for jute products. These include-
With a view to boosting demand in the jute sector, Government of India has imposed Definitive Anti Dumping Duty on import of jute goods from Bangladesh and Nepal with effect from 5th January, 2017. As a result of these measures, 13 Twine mills in Andhra Pradesh had resumed operation, benefitting 20000 workers. Further, imposition of Definitive Anti Dumping Duty has provided scope for an additional demand of 2 lakh MT of jute goods in the domestic market for the Indian jute industry.
In order to improve the productivity and quality of raw jute through a carefully designed intervention, called the Jute ICARE, the Government has been supporting close to one lakh jute farmers by disseminating improved agronomic practices such as line sowing using seed drills, weed management by using wheel-hoeing and nail-weeders, distribution of quality certified seeds and also providing microbial assisted retting. These interventions have resulted in enhancing the quality and productivity of raw jute and increasing income of jute farmers by Rs. 10,000 per hectare.
In order to support jute farmers, Jute Corporation of India (JCI) has been given a grant of Rs. 204 crore for 4 years starting from 2014-15 to enable JCI to conduct MSP operations and ensure price stabilization in the jute sector.
With a view to supporting diversification of jute sector, the National Jute Board has collaborated with National Institute of Design and a Jute Design Cell has been opened at Gandhinagar. Promotion of Jute Geo Textiles and Agro-Textiles has been taken up with the state governments particularly those in the North Eastern region and also with departments such as Ministry of Road Transport and Ministry of Water Resources. In order to promote transparency in jute sector, Jute SMART an e-govt initiative was launched in December, 2016, providing an integrated platform for procurement of B-Twill sacking by Government agencies. Further, the JCI is transferring 100% funds to jute farmers online on the jute procurement under MSP and commercial operations.
Tags : Norms Extension Packaging Jute materials
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Insolvency and Bankruptcy Board of India
03.01.2018
Company
Insolvency professional to ensure compliance with provisions of the applicable laws
MANU/NMIC/0001/2018
1. A corporate person undergoing insolvency resolution process, fast track insolvency resolution process, liquidation process or voluntary liquidation process under the Insolvency and Bankruptcy Code, 2016 (Code) needs to comply with provisions of the applicable laws (Acts, Rules and Regulations, Circulars, Guidelines, Orders, Directions, etc.) during such process. For example, a corporate person undergoing insolvency resolution process, if listed on a stock exchange, needs to comply with every provision of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, unless the provision is specifically exempted by the competent authority or becomes inapplicable by operation of law for the corporate person.
2. It is hereby directed that while acting as an Interim Resolution Professional, a Resolution Professional, or a Liquidator for a corporate person under the Code, an insolvency professional shall exercise reasonable care and diligence and take all necessary steps to ensure that the corporate person undergoing any process under the Code complies with the applicable laws.
3. It is clarified that if a corporate person during any of the aforesaid processes under the Code suffers any loss, including penalty, if any, on account of non-compliance of any provision of the applicable laws, such loss shall not form part of insolvency resolution process cost or liquidation process cost under the Code. It is also clarified that the insolvency professional will be responsible for the non-compliance of the provisions of the applicable laws if it is on account of his conduct.
4. This circular is issued in exercise of powers under section 196 read with section 208 of the Insolvency and Bankruptcy Code, 2016.
Tags : Insolvency Compliance Applicable laws
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Insolvency and Bankruptcy Board of India
03.01.2018
Company
Insolvency professional not to outsource his responsibilities
MANU/NMIC/0002/2018
The Insolvency and Bankruptcy Code, 2016 (Code) read with regulations made thereunder cast specific duties and responsibilities on an insolvency professional. An insolvency professional is required to perform certain tasks under the Code while acting as an Interim Resolution Professional, a Resolution Professional, a Liquidator or a Bankruptcy Trustee for various processes. For example, an insolvency professional is required to manage the operations of the corporate debtor as a going concern. He is also required to invite resolution plans, examine them and present to the committee of creditors for its approval such resolution plans which comply with the provisions of the Code. To assist him in carrying out his responsibilities, the Code read with regulations allow an insolvency professional to appoint accountants, legal or other professionals, as may be necessary.
2. It has been observed that a few insolvency professionals are advising the prospective resolution applicants to submit a certificate from another person to the effect that they are eligible to be resolution applicants. This requirement amounts to outsourcing responsibilities of an insolvency professional to another person. Further, this adds to cost of the resolution applicant and delays submission of resolution plans. The Code read with regulations do not envisage such a certification from a third person.
3. It is hereby directed that an insolvency resolution professional shall not outsource any of his duties and responsibilities under the Code. He shall not require any certificate from another person certifying eligibility of a resolution applicant.
4. This circular is issued in exercise of powers under section 196 read with section 208 of the Insolvency and Bankruptcy Code, 2016.
Tags : Professional Responsibilities Outsource
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Press Information Bureau
02.01.2018
Civil
Cruise tourists arriving with e-visa exempted from the requirement of biometric enrolment
MANU/PIBU/0006/2018
In order to promote cruise tourism in the country, and make India an attractive cruise tourist destination, the Ministry of Home Affairs has, on request of the Ministry of Shipping, exempted cruise tourists arriving with e-visa from the requirement of biometric enrolment for a period of three years i.e. till 31.12.2020. This will make immigration clearance of such passengers faster, leaving them with more time to spend on shore. This is also an important factor that helps cruise lines decide whether or not to include a destination in their itinerary.
The Ministry of Shipping has been working towards simplifying the immigration clearance procedure and providing passengers with a customer friendly and hassle free logistics process when they embark on or disembark from their cruise at the Indian ports. E-Visa has been in place in the five major ports of Mumbai, Mormugao, New Mangalore, Cochin & Chennai. Till now biometrics of passengers were required at port of first arrival for immigration clearance. However, with the existing facilities at the cruise terminals at these ports, the immigration procedure was taking more than the internationally accepted norm of clearing immigration for all cruise passengers in a maximum of 90 minutes. This is especially significant because, as per the schedule of arrivals of cruise ships for the current cruise season 2017-18 and 2019-20, many of the cruise ships coming to India are mega ships with 2000-4000 passengers on board. Most of these cruise passengers are expected to arrive on E-Visa, and biometric enrolment of all these passengers would slow down immigration clearance. Hence the need for the exemption.
This simplified immigration clearance procedure is part of a series of steps to attract and to enhance cruise passenger experience at the major ports. The standard operating procedures to handle cruise was revised earlier and is being implemented uniformly at all ports. In November, 2017 major ports reduced their tariffs for 3 years by 42 - 67% to make it attractive for cruise lines to visit India. Major ports now change a single comprehensive uniform rate of USD$ 0.35 per GRT.
Tags : Cruise tourists E-visa Exemption
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Press Information Bureau
02.01.2018
Civil
Making Warning Labels on fast food compulsory
MANU/PIBU/0007/2018
Food Safety and Standards Authority of India (FSSAI) has informed that Fast Food has not been separately defined under the Food Safety and Standards Act, 2006 and Rules and Regulations made thereunder. However, to address the issue of High Fat, Sugar and Salt (HFSS) in food and associated health risks, Food Safety and Standards Authority of India (FSSAI) constituted an Expert Group. The Report of the Expert Group, with its gist, has been uploaded on FSSAI website. for the information of general public. Further, to help consumers make an informed choice, FSSAI has decided to revise its labelling regulations to include mandatory declaration of total fat, added sugar, salt, trans fat and energy per serving along with its contribution to Recommended Dietary Allowance (RDA) on front of pack label. The Minister of State (Health and Family Welfare), Sh Ashwini Kumar Choubey stated this in a written reply in the Rajya Sabha here today.
Tags : Warning Labels fast food Compulsory
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Insurance Regulatory and Development Authority
01.01.2018
Insurance
Motor Third Party Insurance Coverage
MANU/IRDA/0001/2018
Hon'ble Supreme Court Committee on Road Safety had directed the States/Union Territories to periodically carry out checks to see whether the vehicle owners have Third Party insurance cover and in case they are not covered by Third Party insurance, detain the vehicle till such time the valid Third Party insurance certificate is produced by the vehicle owner. Several States have reported back that insurers have a cumbersome process that involves inspection of the vehicle concerned and that vehicle owners have complained that it is not an easy process to obtain insurance.
With an objective to ensure ease of obtaining Motor TP liability only policy, insurers are advised to follow the following vis-a-vis issuance of Third Party insurance coverage:
(1) Insurers shall make available to the proposers, on-line channel as well, to obtain Motor Third Party liability only policy.
(2) Insurers shall also liaise with the police authorities to facilitate issue/renewal of Third Party liability policy to owners of the vehicles who are not having Third Party cover.
(3) Insurers shall ensure the easy availability of Motor TP Insurance and in no case can a request for a TP cover be denied.
All the Insurers are advised to strictly comply with these directions.
Tags : Insurance Coverage Third party
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