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Relief for EPFO subscribers amid COVID-19 lockdown

On 26th March 2020, Union Finance Minister Ms. Nirmala Sitharaman while unveiling a comprehensive relief package amounting to INR 1.7 lakh crores in a bid to cushion the low-income group and marginalized people from the impact of the pandemic Covid-19 lockdown and its consequential economic disruption, also announced some relief to workers and employers in the […]

Work From Home – The New Employment Contract

In the Covid 19 ridden world that has taken over each and everyone’s lives, the struggle to keep pace with commitments and daily routines has become the need of the hour. “Work from home” is no longer an option but the norm. Practically speaking, more often than not, most companies do not offer such an […]

Highlights of Finance Minister’s Press Conference: Reliefs during COVID-19 outbreak

In the midst of the shutdown of businesses all over India to contain the spread of the highly contagious Covid-19 infection, Finance Minister Smt. Nirmala Sitharaman today addressed a press conference on various statutory and regulatory compliance issues and announced a slew of measures for providing relief amid the pandemic outbreak.   The brief highlights […]

Initiative by Ministry of Corporate Affairs to contain the spread of COVID-19

As a part of Government of India’s initiative to ensure active preparation to face the challenge and threat posed by the growing pandemic of COVID-19, the Ministry of Corporate Affairs (MCA) has relaxed the rules with respect to meetings of board of directors and dispensed with the necessity of holding physical meetings on matters relating […]

Companies Amendment Bill 2020 introduced in Lok Sabha

On 17th March 2020, the Government has introduced the Companies (Amendment) Bill, 2020 (“Bill”) in the Lok Sabha to further amend Companies Act, 2013 (“Act”) proposing various changes pertaining to removing criminality from most of the offences under the Act and offering simpler penalty regime for businesses as well as paving way for direct overseas listing […]

Parliament passes the Insolvency and Bankruptcy Code (Amendment) Bill, 2020

On Thursday, both houses of Parliament passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2020 (“Bill”) thereby repealing the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 (“Ordinance”). All the amendments made prior in the Ordinance have been captured verbatim by the Bill. The Bill will now require the President’s assent to become a law in […]

The Ministry of Corporate Affairs simplifies the process for Incorporation of Companies

The Ministry of Corporate Affairs (“MCA”) has recently notified the proposed deployment of a new web form “SPICe+” for incorporation of companies. The web form has been issued as part of the Government’s Ease of Doing Business initiative and has replaced the existing SPICe form. The major changes introduced in the company incorporation process are: […]

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 : New amendments and its implications

The Insolvency and Bankruptcy Code, 2016 (Code) has been amended through promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 (Ordinance) on December 28, 2019. The Ordinance amends the Code to inter-alia, prescribe the threshold for financial creditors of certain specified categories to initiate the resolution process; clarification with respect to persons that are […]

MCA amends the threshold limits for Related Party Transactions

The Ministry of Corporate Affairs (“MCA”) on 18th November 2019 vide notification of the Companies (Meeting of Board and its Powers) Second Amendment Rules, 2019 (“Second Amendment Rules, 2019”) issued further amendment to rule 15 of the Companies (Meeting of Board and its Powers) Rules, 2014. The MCA vide Second Amendment Rules, 2019 seeks to […]

Proposed changes in the Companies Act, 2013 – Decriminalization of various offences

Proposed changes in the Companies Act, 2013 – Decriminalization of various offences October, 2019 Since the inception of the Companies Act, 2013 (“Act”), the Government of India (“Government”) has undertaken and continues to undertake various amendments to the Act including the recent amendment dated July 31st, 2019, in which approximately 21 (twenty-one) criminal offences were […]

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