4 August 2020


Notifications & Circulars

Press Information Bureau

30.07.2020

Civil

Criteria for identification of beneficiaries as per norms is uniform across the country

MANU/PIBU/2391/2020

According to some reports which appeared in the media, alleging wrong identification of beneficiaries and discrimination in the issue of National Food Security Act, 2013 (NFSA) ration cards in Bihar, the Department of Food & Public Distribution under the Ministry of Consumer Affairs, Food & Public Distribution hereby clarifies that the identification of beneficiaries under NFSA is done based on certain criteria and the responsibility for this rests with the State governments. There has been no discrimination or wrong identification of NFSA beneficiaries in Bihar. The system of identification of beneficiaries as per norms is uniform across all the States/UTs.

The National Food Security Act, 2013 (NFSA), provides coverage for a total of about 8.71 crore beneficiaries in Bihar, including about 25 Lakh Antyodaya Anna Yojana (AAY) families.

According to DoFPD, in the month of May 2020, the state of Bihar had requested to the Department to increase the monthly allocation for the utilization of up to 100% coverage of persons under NFSA i.e. 8.71 Crore. The Central Government, in response to the State's request took quick action to approve the total coverage of NFSA beneficiaries in Bihar up to the maximum limit of 8.71 Crore.

Recently the state of Bihar was asked to provide a report on the coverage under NFSA by the DoFPD and it has been reported by the State that 15 lakh inactive ration cards exist in the State and their cleaning process is going on as per norms. In addition to this, State has confirmed that about 23.39 lakh new ration cards have been issued, over and above 1.41 crore existing ration cards. State has also informed that list of NFSA beneficiaries may be finalized after completion of July 2020 month distribution and it is also informed that the state does not have its own scheme for food grain distribution under PDS.

Under regular NFSA, the Central Government alone provides a quantity of about 55.24 Lakh Metric Tonnes (LMT) per year to Bihar, entailing a food subsidy of nearly Rs. 16,500 crore. In addition to this, under PMGKAY, for the period April-November, 2020, a quantity of nearly 34.8 LMT free foodgrains has been provided with additional food subsidy of nearly Rs. 12,061 crore. Further under Atma Nirbhar Bharat Package (ANBP) an additional quantity of nearly 86,400 MT of free food grains for two months (for distribution to nearly 87 lakh migrants/month) has been provided at a subsidy of nearly Rs. 322 crore.

Thus, DoFPD clarifies that all efforts are being made for the achievement of 'Rightful Targeting' of food subsidy benefits to the genuinely needy persons/families in Bihar by the Central Government.

Tags : Criteria Identification Beneficiaries

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Press Information Bureau

30.07.2020

MRTP/ Competition Laws

CCI approves proposed acquisition of 49% of the total equity share capital of Odisha Power Generation Corporation Limited by Adani Power Limited

MANU/PIBU/2382/2020

The Competition Commission of India (CCI) approves proposed acquisition of 49% of the total equity share capital of Odisha Power Generation Corporation Limited (OPGC) by Adani Power Limited (APL).

The proposed transaction relates to the acquisition of 49% of the total equity share capital of OPGC by APL (Proposed Combination).

APL, is a public listed company and its shares are listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. It is a part of the Adani Group, which is inter-alia engaged in the business operations of generation, transmission and distribution of power in India. APL is primarily engaged in the business of power generation.

OPGC, incorporated in Odisha, is a joint venture between Government of Odisha, AES India Private Limited and AES OPGC Holding and operates as a state government company. OPGC is engaged in the business of power generation.

Tags : Acquisition Share capital OPGC

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Press Information Bureau

30.07.2020

Consumer

Central Consumer Protection Authority established to promote, protect and enforce the rights of consumers

MANU/PIBU/2393/2020

The Consumer Protection Act, 2019 has come into force from 20th July, 2020. As provided in section 10 of the Act, the Central Consumer Protection Authority (CCPA) has been established w.e.f. 24th July, 2020.

For operationalization of the CCPA, Additional Secretary in the Department of Consumer Affairs, Smt. Nidhi Khare has been assigned the charge of Chief Commissioner, Joint Secretary in the Department Shri Anupam Mishra as Commissioner, Director General, BIS Shri Pramod K. Tiwari as Director General (Investigation) and Director General, National Test House, Shri Vineet Mathur as Additional Director General (Investigation) in the Central Consumer Protection Authority w.e.f. 29th July, 2020 to exercise the powers and discharge the functions under the Act.

Meanwhile, the CCPA will start functioning in the premises of IIPA. The support staff is being arranged from the Centre for Consumer Studies of The Indian Institute of Public Administration (IIPA) and the National Consumer Helpline, which have been financially aided by the Department since 2007.

The objective of the Central Consumer Protection Authority (CCPA) is to promote, protect and enforce the rights of consumers as a class. It will be empowered to conduct investigations into violation of consumer rights and institute complaints / prosecution, order recall of unsafe goods and services, order discontinuation of unfair trade practices and misleading advertisements, impose penalties on manufacturers/endorsers/publishers of misleading advertisements.

For giving effect to the provisions of the Act, the following rules have also been notified and made effective from 20th July, 2020:

i. The Consumer Protection (General) Rules, 2020

ii. The Consumer Protection (Central Consumer Protection Council) Rules, 2020.

iii. The Consumer Protection (Consumer Disputes Redressal Commissions) Rules, 2020.

iv. The Consumer Protection (Mediation) Rules, 2020.

v. The Consumer Protection (Salary, allowances and conditions of service of President and Members of the State Commission and District Commission) Model Rules, 2020.

vi. The Consumer Protection (Qualification for appointment, method of recruitment, procedure of appointment, term of office, resignation and removal of the President and members of the State Commission and District Commission) Rules, 2020.

vii. The Consumer Protection (E-Commerce) Rules, 2020. [effective from 23 July, 2020].

The National Consumer Disputes Redressal Commission has also notified the following Regulations effective from 24th July, 2020:

i. The Consumer Protection (Consumer Commission Procedure) Regulations, 2020.

ii. The Consumer Protection (Administrative Control over the State Commission and the District Commission) Regulations, 2020.

iii. The Consumer Protection (Mediation) Regulations, 2020.

Tags : Authority Rights Consumers

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Telecom Regulatory Authority of India

30.07.2020

Media and Communication

TRAI jointly organizes a Web dialogue along with ITU and GSMA on "Digital Transformation for Digital Economies @COVID-19 South-Asia"

MANU/TRAI/0063/2020

A web dialogue is being organized jointly by Telecom Regulatory Authority of India (TRAI), International Telecommunication Union (ITU) and the GSM Association (GSMA) today, which aims at engaging representatives of the National Regulatory Authorities and other stakeholders from South Asia to discuss on the regulation for digital transformation in the post-COVID-19 era.

Amidst an unprecedented crisis of COVID-19, digital technologies offer the only opportunity for governments, individuals and businesses to cope with social distancing, ensure business continuity, and prevent service interruptions. This web dialogue will help regulators, policymakers and industry to better understand the digital transformation that is taking place and tools to create a policy environment that enables their economies and societies to prosper in a world that is increasingly digital and data-driven.

A large segment of population, almost 25% of the total world population, resides in South Asia and India is the largest and the most populous country in the region with a population of around 1.3 billion people. There is a dearth of infrastructure and resources in most of the countries in South Asia, as compared to the developed world. This imbalance of percentage of population vis-a-vis available resources poses tough situation for governments to deal with the situation and ensure the economy sustainability. Keeping this in mind, the sessions of this Web Dialogue have been dedicated to discuss seamless digital connectivity for all and collaborative regulatory tools for Digital Transformation and Digital Economy and the deliberations are expected to be interesting and relevant for the region.

The eminent speakers will highlight digital strategies and innovative solutions adopted in response to connectivity challenges and needs of all kinds that have emerged amid the crisis. An open discussion with all participants will explore the related challenges, opportunities and lessons learned in the form of an interactive discussion by eminent panellists and participants. The Chairman, TRAI will be delivering opening remarks, along with Ms. Doreen Bogdan-Martin, Director of Telecommunication Development Bureau, ITU, Mr. Dan Sjoblom, DG of Swedish Post and Telecom Authority (PTS) who is also President of BEREC (Body of European Regulators for Electronic Communications), Mr. Julian Gorman, Head of Asia Pacific for GSMA. Many Heads of Regulators from South Asian region will be participating as Speakers, particularly from countries such as Bhutan, Nepal, Maldives, Afghanistan, Pakistan, Bangladesh, Iran, Mongolia etc.

Tags : Web dialogue Digital Transformation Digital Economies

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Securities and Exchange Board of India

29.07.2020

Capital Market

Extension of time for submission of financial results for the quarter/half year/financial year ended 30th June 2020

MANU/SSMD/0042/2020

1. SEBI, vide circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/106 dated June 24, 2020, had extended the timeline for submission of financial results by listed entities for the quarter/half-year/financial year ended 31st March 2020 to July 31, 2020 due to the impact of the CoVID-19 pandemic.

2. Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('LODR Regulations') requires a listed entity to submit its quarterly/half year/annual financial results within forty five days or sixty days, as applicable, from the end of each quarter/half year/financial year. Accordingly, listed entities are required to submit the financial results for the quarter/half year ended June 30, 2020, on or before August 14, 2020.

3. SEBI has received representations requesting extension of time for submission of financial results for the quarter/half year ended June 30, 2020, due to the shortened time gap between the extended deadline for submission of financial results for the period ended March 31, 2020 (31st July) and the quarter/half year ended June 30, 2020 (14th August).

4. After consideration, it has been decided to extend the timeline for submission of financial results under Regulation 33 of the LODR Regulations, for the quarter/half year/financial year ended 30th June 2020, to September 15, 2020.

5. This Circular shall come into force with immediate effect. Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities and also disseminate on their websites.

6. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the LODR Regulations.

Tags : Extension Time Financial results

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Securities and Exchange Board of India

29.07.2020

Capital Market

Implementation of SEBI circular on 'Margin obligations to be given by way of Pledge/Re-pledge in the Depository System'

MANU/SSMD/0044/2020

1. SEBI, vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020, specified mechanism with regard to Margin obligations to be given by way of Pledge/Re-pledge in the Depository System. The provisions of this circular were initially to come into effect from June 01, 2020. The implementation date of the circular was extended till August 01, 2020 vide SEBI circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/88 dated May 25, 2020 read with SEBI circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/90 dated May 29, 2020 in view of disruptions on account of COVID-19 pandemic including restrictions in movement of people.

2. In view of the prevailing situation due to Coivid-19 pandemic, partial lockdowns in various areas of the country, representations received from the stock brokers and stock broker associations and that the changes to the systems and software development still under progress, it has been decided that

2.1. The mechanism of pledge/re-pledge issued vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020 shall be implemented with effect from August 01, 2020. Trading member (TM)/Clearing member (CM) shall endeavor to align their systems and accept client collateral and margin funded stocks by way of creation of pledge/re-pledge in the Depository system.

2.2. The TM/CM shall also be allowed to accept client securities as collateral by way of title transfer into the Client Collateral Account as per the present system. The system of parallel acceptance of the client securities by way of title transfer shall be available only upto August 31, 2020 and no further extension shall be granted.

2.3. Funded stocks held by the TM/CM under the margin trading facility shall preferably be held by the TM/CM by way of pledge with effect from August 01, 2020. TM/CM may continue to hold funded stocks in respect of margin funding in 'Client Margin Trading Securities Account' till August 31, 2020 by which date all such accounts shall be closed.

3. It is reiterated that, in terms of paragraph 12 of the circular dated February 25, 2020, the TM/CM shall be required to close all existing demat accounts tagged as 'Client Margin/Collateral' by August 31, 2020.

4. Stock Exchanges, Clearing Corporations and Depositories are directed to bring the provisions of this circular to the notice of their members/participants and also disseminate the same on their websites.

5. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets.

Tags : Implementation Margin obligations Depository System

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Ministry of Finance 

29.07.2020

Customs

Imposition on subject goods falling under tariff items 8541 40 11 or 8541 40 12 of the First Schedule to the Customs Tariff Act, when imported into India, a safeguard duty at the specified rate

MANU/CUSS/0002/2020

Whereas, the designated authority, vide notification No. 22/1/2020-DGTR, dated the 3rd March 2020, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 4th March, 2020, had initiated a review, in the matter of continuation of safeguard duty on imports of "Solar Cells whether or not assembled in modules or panels" (hereinafter referred to as the subject goods) falling under tariff items 8541 40 11 or 8541 40 12 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), (hereinafter referred to as the Customs Tariff Act), imposed vide notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 01/2018-Customs (SG) dated the 30th July, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 717 (E), dated the 30th July, 2018;

And whereas, in the matter of review of safeguard duty on imports of the subject goods, the designated authority in its final findings, published vide notification No. 22/1/2020 - DGTR, dated the 18th July, 2020, in the Gazette of India, Extraordinary, Part I, Section 1, dated the 18th July, 2020 has recommended continued imposition of the safeguard duty on imports of the subject goods, in order to remove injury to the domestic industry.

Now, therefore, in exercise of the powers conferred by sub-sections (1) and (4) of section 8B of the Customs Tariff Act read with rules 12, 14, 17 and 18 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, after considering the said findings of the designated authority and subject to the provisions of paragraph 2, hereby imposes on subject goods falling under tariff items 8541 40 11 or 8541 40 12 of the First Schedule to the Customs Tariff Act, when imported into India, a safeguard duty at the following rate, namely:-

(a) fourteen point nine per cent. ad valorem minus anti-dumping duty payable, if any, when imported during the period from 30th July, 2020 to 29th January, 2021 (both days inclusive); and

(b) fourteen point five per cent. ad valorem minus anti-dumping duty payable, if any, when imported during the period from 30th January, 2021 to 29th July, 2021 (both days inclusive).

2. Nothing contained in this notification shall apply to imports of subject goods from countries notified as developing countries vide notification No. 19/2016-Customs (N.T.), dated the 5th February, 2016, except People's Republic of China, Thailand and Vietnam.

Tags : Imposition Tariff Import

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Ministry of Finance 

29.07.2020

Direct Taxation

Amendment to Taxation and Other Laws

MANU/CBDT/0060/2020

1. In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020), the Central Government hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, number 35/2020, dated the 24th June, 2020, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide number S.O. 2033(E), dated the 24th June, 2020, namely:-

(i) in the first proviso, in clause (i), in sub-clause (a), for the words, figures and letters "the 31st day of July, 2020" the words, figures and letters "the 30th day of September, 2020" shall be substituted;

(ii) after the second proviso, the following proviso shall be inserted, namely: -

"Provided also that for the purposes of the second proviso, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Income-tax Act, 1961 (43 of 1961), the tax paid by him under section 140A of that Act within the due date (before extension) provided in that Act, shall be deemed to be the advance tax:".

2. This notification shall come into force from the date of its publication in the Official Gazette.

Tags : Taxation Other Laws Amendments

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