Auto-Renewal Of Registration, License Under Various Labour Laws In Assam

Legal Category: HR and Labour
Rule ACT: Shops and Establishments Act- Assam
Update Type: Notification
Release Date: 12, Jan, 2021
Notification No: No.GLR.65/2019/47
Description: The Labour Department of Assam has introduced an auto-renewal scheme for certificates of registration and licenses with regard to the following acts:
1. The Contract Labour (Regulation and Abolition) Act, 1970
2. Inter-State Migrant Workmen Act, 1979
3. Assam Shops and Establishments Act, 1971
4. The Factories Act, 1948
5. The Motor Transport Workers Act, 1961.

Extension Of Time Limit To Deposit Labour Welfare Fund Contribution In Karnataka

Legal Category: HR and Labour
Rule ACT: Labour Welfare Fund Act - Karnataka
Update Type: Press Release
Release Date: 15, Jan, 2021
Notification No: KLWFB/PressNote/15-01-2021
Description: The Karnataka Labour Welfare Board has extended the last date for payment of contribution to the Labour welfare fund from 15th January 2021 to 31st January 2021 due to technical difficulties in the online portal.

Scheme for Condonation of delay for Companies restored on the Register of Companies between 01.12.2020 and 31.12.2020 under section 252 of the Companies Act, 2013

Legal Category: Corporate
Rule ACT: Companies Act, 2013
Update Type: Circular
Release Date: 15, Jan, 2021
Notification No: General Circular No. 03/2021
Description: The Central Government in exercise of its powers conferred u/s 460 read with section 403 of the Act has decided to introduce the scheme namely, "Scheme for Condonation of delay for Companies restored on the Register of Companies between 01st December 2020 and 31st December 2020 u/s 252 of the Companies Act, 2013 for the purpose of condoning the delay in filing forms with the Registrar, insofar as it relates to charging of additional fees on account of delay in such filings. Details of the scheme are as under:
1. Effective from 01 February 2021.
2. Applicable on the Companies which have filed an appeal with the respective NCLT Bench for the restoration of the name and was disposed of between 01.12.2020 to 31.12.2020, with an order for restoration of the Company.
3. The last date for filing of any overdue e-form shall be 31.03.2021.
4. This scheme shall be applicable on all e-forms except e-form SH-7, CHG-1, CHG-4, CHG-8 and CHG-9.
5. Companies are required to file normal filing fees and no additional fees shall be payable for the forms for which this scheme is applicable.

Introduction of Online e-PRC System for Application Seeking Policy/procedure Relaxation

Legal Category: Exchange Control
Rule ACT: Foreign Trade Policy
Update Type: Notice
Release Date: 15, Jan, 2021
Notification No: No. 38/2020-21
Description: Directorate General of Foreign Trade has introduced an Online e-PRC System for application Seeking Policy/Procedure Relaxation and decided all Exporter/Importer seeking relaxation of FTP/HBP provisions are required to submit their application electronically only.

Relaxation from Compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the COVID -19 Pandemic

Legal Category: SEBI
Rule ACT: SEBI (LODR)
Update Type: Circular
Release Date: 15, Jan, 2021
Notification No: SEBI/HO/CFD/CMD2/CIR/P/2021/11
Description: The Securities and Exchange Board of India has decided to provide further relaxation from the compliances related to sending physical copies of the annual report to shareholders and the requirement of proxy for general meetings held through electronic mode till December 31, 2021.

Availability of CFSS-2020 Form for filing as eForm w.e.f 16th January 2021

Legal Category: Corporate
Rule ACT: Companies Act, 2013
Update Type: Others
Release Date: 15, Jan, 2021
Notification No: Availability of CFSS-2020 Form for filing as eForm w.e.f 16th January 2021
Description: The Ministry of corporate Affairs (MCA) on January 15, 2021 has brought this important news and update that CFSS-2020 Form shall be available for filing as eForm w.e.f 16th January 2021. Stakeholders may please take note and plan accordingly.

Waiver of Bank Guarantee in Transhipment of Import & Export Cargo via Sri Lanka and Bangladesh

Legal Category: Exim
Rule ACT: Customs Act
Update Type: Circular
Release Date: 14, Jan, 2021
Notification No: No.01/2021-Customs
Description: Central Board of Indirect Taxes and Customs has decided to extend the exemption from the requirement of furnishing of Bank Guarantee by the carriers for the carriage of EXIM cargo for transhipment through foreign territories of Sri Lanka and Bangladesh. This relaxation would apply if the carrier fulfills the requirement of a waiver of the Bank Guarantee.

Requirement of Filing of Bill of Coastal Goods (BCG)

Legal Category: Exim
Rule ACT: Customs Act
Update Type: Instruction
Release Date: 14, Jan, 2021
Notification No: No.01-(Instruction)
Description: Central Board of Indirect Taxes and Customs has decided to make applicable provision of Section 30 (Delivery of import manifest or import report) & 41(Delivery of export manifest or export report) of the Customs Act for coastal vessels loading or unloading coastal goods at EXIM berths.

Parliamentary Consultative Committee meeting on New Foreign Trade Policy 2021-26

Legal Category: Exchange Control
Rule ACT: Foreign Trade Policy
Update Type: Press Release
Release Date: 12, Jan, 2021
Notification No: NA
Description: Ministry of Commerce and Industry (Consultative Committee) has informed that the new Foreign Trade Policy will come into effect from 1st April 2021 for a period of five years and will strive to make India a leader in the area of international trade and channelize the synergies gained through merchandise and services exports for growth and employment to make India a USD 5 Trillion economy. A key driver for India to achieve the USD 5 Trillion mark in an expedited time frame would be boosting exports, both merchandise and services, through systematically addressing domestic and overseas constraints related to the policy, regulatory and operational framework for lowering transactions costs and enhancing the ease of doing business, creating a low cost operating environment through efficient, cost-effective and adequate logistical and utilities infrastructure. Improvements in the operations of the domestic manufacturing and services sector in combination with efficient infrastructure support by the government would result in correcting the imbalances within India and feed into the trade policy.

Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)

Legal Category: Corporate
Rule ACT: Companies Act, 2013
Update Type: Circular
Release Date: 13, Jan, 2021
Notification No: General Circular No. 02/2021
Description: The Ministry of corporate Affairs (MCA) on January 13, 2021 has said that in continuation to the General Circulars No. 20/2020, dated 05th May, 2020 and after due examination, it has been decided to allow companies whose AGMs were due to be held in the year 2020, or become due in the year 2021, to conduct their AGMs on or before 31.12.2021, in accordance with the requirements provided in paragraph 3 and 4 of the General Circular No. 20/2020 and it is also clarified that this Circular shall not be construed as conferring any extension of time for holding of AGMs by the Companies under the Companies Act, 2013, and the companies which have not adhered to the relevant timelines shall remain subject to legal action under the Companies Act, 2013.

Clarification on spending of CSR Funds for Awareness and public outreach on COVID-19 Vaccination Programme

Legal Category: Corporate
Rule ACT: Companies Act, 2013
Update Type: Circular
Release Date: 13, Jan, 2021
Notification No: General Circular No. 01/2021
Description: The Ministry of corporate Affairs (MCA) on January 13, 2021 has said that in continuation to the General Circulars No. 10/2020 dated 23.03.2020 wherein it was clarified that spending of CSR funds for COVID-19 is an eligible CSR activity, it is further clarified that:
1. spending of CSR funds for carrying out awareness campaigns / programmes or public outreach campaigns on COVID-19 Vaccination programme is an eligible CSR activity under item no. (i), (ii) and (Xii) of Schedule VII of the Companies Act, 2013 relating to promotion of health care, including preventive health care and sanitization, promoting education, and, disaster management respectively.
2. the companies may undertake the aforesaid activities subject to fulfillment of Companies (CSR Policy) Rules, 2014 and the circulars related to CSR, issued by this ministry from time to time.

Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021

Legal Category: Exchange Control
Rule ACT: FEMA (Master Direction - Export of Goods and Services)
Update Type: Amendment
Release Date: 08, Jan, 2021
Notification No: No. FEMA 23(R)/(4)/2021-RB
Description: Reserve Bank of India has amended the below mention provision of Foreign Exchange Management (Export of Goods & Services) Regulations, 2015:
Regulation 4(ea) has been substituted:
“(ea) re-export of leased aircraft/ helicopter and/or engines/auxiliary power units (APUs), either completely or in partially knocked down condition re-possessed by overseas lessor and duly de-registered by the Directorate General of Civil Aviation (DGCA) on the request of Irrevocable Deregistration and Export Request Authorisation (IDERA) holder under ‘Cape Town Convention’ or any other termination or cancellation of the lease agreement between the lessor and lessee subject to permission by DGCA/Ministry of Civil Aviation for such export/s.”

Exchange Rate of Foreign Currencies

Legal Category: Exim
Rule ACT: Customs Act
Update Type: Notification
Release Date: 07, Jan, 2021
Notification No: No. 03/2021 - Customs (N.T.)
Description: Central Board of Indirect Taxes and Custom has determined the rate of exchange of conversion of each foreign currencies related to imported and export goods in the suppression of the Notification No.113/2020-Customs(N.T.).

Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2021

Legal Category: SEBI
Rule ACT: SEBI(Issue of Capital and Disclosure Requirements)Regulation
Update Type: Amendment
Release Date: 08, Jan, 2021
Notification No: No. SEBI/LAD-NRO/GN/2021/03
Description: Securities and Exchange Board of India has amended the following provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018:
i. In regulation 112 the existing clause (b) substituted along with the proviso
ii. In regulation 115 the existing proviso after clause (c) omitted
iii. In regulation 167 after the existing sub-regulation (4) new proviso inserted.

Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2021

Legal Category: SEBI
Rule ACT: SEBI (LODR)
Update Type: Amendment
Release Date: 08, Jan, 2021
Notification No: No. SEBI/LAD-NRO/GN/2021/02
Description: Securities and Exchange Board of India has amended the following provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
1. In Schedule III, in Part A (Point A,16 sub-clause) has been amended as follow:
Specific features and details of the resolution plan as approved by the Adjudicating Authority under the Insolvency Code, not involving commercial secrets, including details such as:
i. Pre and Post net-worth of the company
ii. Details of assets of the company post CIRP
iii. Details of securities continuing to be imposed on the companies’ assets
iv. Other material liabilities imposed on the company
v. Detailed pre and post shareholding pattern assuming 100% conversion of convertible securities
vi. Details of funds infused in the company, creditors paid-off
vii. Additional liability on the incoming investors due to the transaction, source of such funding, etc.
viii. Impact on the investor – revised P/E, RONW ratios, etc.
ix. Names of the new promoters, key managerial persons(s), if any, and their past experience in the business or employment. In the case where promoters are companies, the history of such company and names of natural persons in control
x. Brief description of business strategy.
2. Added new sub-clauses:
a. Proposed steps to be taken by the incoming investor/acquirer for achieving the MPS
b. Quarterly disclosure of the status of achieving the MPS
c. The details as to the delisting plans, if any approved in the resolution plan.

Interstate Migrant Workmen (Regulation of Employment and Conditions of Service)(Gujarat)(Amendment) Rules, 2020

Legal Category: HR and Labour
Rule ACT: Inter-State Migrant Workmen Act - Gujarat
Update Type: Amendment
Release Date: 31, Dec, 2021
Notification No: No:GHR/2020/162/ISM/162020/472069/M(3)
Description: The Gujarat Labour and Employment Department has amended Interstate Migrant Workmen (Regulation of Employment and Conditions of Service)(Gujarat) Rules, 1981. As per the amendment Form IX is deleted.

The Contract Labour (Regulation And Abolition) (Gujarat Amendment) Rules, 2020

Legal Category: HR and Labour
Rule ACT: Contract Labour Act - Gujarat
Update Type: Amendment
Release Date: 31, Dec, 2021
Notification No: No:GHR/2020/163/CLA/152020/415126/M(3)
Description: The Gujarat Labour and Employment Department has amended the Contract Labour (Regulation and Abolition) (Gujarat) Rules, 1972. As per the amendment, the security amount for each of the workmen to be employed as contract labour is increased to Rupees five hundred and forty from the existing amount of Rupees two hundred and seventy. The amendment has further revised the fee structure and has also deleted certain Rules. Please refer to the notification for more details

Introduction Of A Single Form For Trade License And Registration For Shops And Commercial Establishments In Haryana

Legal Category: HR and Labour
Rule ACT: Shops and Establishments Act - Haryana
Update Type: Order
Release Date: 05, Jan, 2021
Notification No: No.:EoDB/LW/2021/
Description: The Government of Haryana has introduced a scheme for receiving the online applications for registration of shop and commercial establishment under Punjab Shops And Commercial Establishments Act, 1958 and Trade License under the local municipal laws through the online portal of HEPC (Haryana Enterprises Promotion Centre) in a single form.

Declaration Of PF Rate Of Interest For EPF Members Account For The Year 2019-20

Legal Category: HR and Labour
Rule ACT: EPF Act
Update Type: Letter
Release Date: 04, Jan, 2021
Notification No: No.INV-11/1/2020-INV/2025
Description: Ministry of Labour and Employment conveyed the approval of Central Government to credit interest at 8.50% for the year 2019 -20, to the account of each member of the EPF Scheme as per provisions under Para 60(1) of EPF Scheme, 1952.

OSPCB Issues Office Order Regarding Application fee for Authorization under Biomedical Waste Management Rules, 2016

Legal Category: Environmental, Occupational Health and Safety
Rule ACT: Bio-Medical Waste Management Rules - Odisha
Update Type: Order
Release Date: 24, Dec, 2020
Notification No: No.13112/IND-IV-BW-55(M)
Description: The Odisha State Pollution Control Board has issued an order to modify the Application fee for authorization under the Biomedical Waste Management Rules, 2016. The Board prescribes the one-time fee for consideration of authorization of the units to handle biomedical waste.

ESIC extends the due date of Return of Contribution for the period April 2020 to September 2020

Legal Category: HR and Labour
Rule ACT: ESI Act
Update Type: Letter
Release Date: 01, Jan, 2021
Notification No: No:-P-11/12/Misc./SST Misuse/2019-Rev. II(New)
Description: The Employees State Insurance Corporation (ESIC) has provided one-time relaxations to those employers who failed to file Return of Contribution for the period from 1st April 2020 to 30th September 2020 within 42 days from the end of the contribution period. The Employers are now allowed to file this return for the contribution period from 1st April 2020 to 31st September 2020 upto 15th January 2020. However, one-time relaxation is limited to the contribution period ending September 2020 only and not for another contribution period..

EPFO issues Notification on Aatmanirbhar Bharat Rojgar Yojana

Legal Category: HR and Labour
Rule ACT: EPF Act
Update Type: Memorandum
Release Date: 31, Dec, 2020
Notification No: No.CAIU/011(16)2020-21/ABRY/1178
Description: The Employees’ Provident Fund Organisation (EPFO) has issued a scheme for implementation of Aatmanirbhar Bharat Rojgar Yojana in order to incentivize the creation of new employments opportunities in EPFO registered establishments. The Government has taken initiative in creation of new employment opportunity during COVID phase by providing assistance to the employers of the establishments registered with EPFO to recruit unemployed persons including re-employment of those who are unemployed during the pandemic.

Customs Authority for Advance Rulings Regulations, 2021

Legal Category: Exim
Rule ACT: Customs Act
Update Type: Regulations
Release Date: 04, Dec, 2021
Notification No: No. 01/2021–Customs (N.T.)
Description: Central Board of Indirect Taxes and Customs has notified regulations called the Customs Authority for Advance Rulings Regulations, 2021. The Regulation provides provisions for the Authority to hear and determine all applications and petitions.

Introduction of Legal Entity Identifier(LEI) for Large Value Transactions in Centralised Payment Systems

Legal Category: Finance
Rule ACT: RBI (LEI for for Participation in Non-derivative Markets)
Update Type: Circular
Release Date: 05, Jan, 2021
Notification No: RBI/2020-21/82DPSS.CO.OD No.901/06.24.001/2020-21
Description: The Reserve Bank of India has decided to introduce the LEI system for all payment transactions of value INR50 crore and above undertaken by entities (non-individuals) using Reserve Bank-run Centralised Payment Systems viz. Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). Entities can obtain LEI from any of the Local Operating Units (LOUs) accredited by the Global Legal Entity Identifier Foundation (GLEIF), the body tasked to support the implementation and use of LEI. LEI can be obtained from Legal Entity Identifier India Ltd. (LEIL) (https://www.ccilindia-lei.co.in), which is also recognised as an issuer of LEI by the Reserve Bank

Operationalisation of Payments Infrastructure Development Fund (PIDF) Scheme

Legal Category: Finance
Rule ACT: RBI Act
Update Type: Circular
Release Date: 05, Jan, 2021
Notification No: RBI/2020-21/81DPSS.CO.AD No.900/02.29.005/2020-21
Description: The Reserve Bank of India has decided to implement the Payments Infrastructure Development Fund (PIDF) Scheme. Payments Infrastructure Development Fund (PIDF) will be operational for a period of three years from January 01, 2021, and maybe extended for two more years depending upon the progress.
Payments Infrastructure Development Fund (PIDF) Scheme: The Reserve Bank has created a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Points of Sale (PoS) infrastructure (both physical and digital modes) in tier-3 to tier-6 centres and northeastern states.
  • 12, Jan, 2021 Auto-Renewal Of Registration, License Under Various Labour Laws In Assam
  • 15, Jan, 2021 Extension Of Time Limit To Deposit Labour Welfare Fund Contribution In Karnataka
  • 15, Jan, 2021 Scheme for Condonation of delay for Companies restored on the Register of Companies between 01.12.2020 and 31.12.2020 under section 252 of the Companies Act, 2013
  • 15, Jan, 2021 Introduction of Online e-PRC System for Application Seeking Policy/procedure Relaxation
  • 15, Jan, 2021 Relaxation from Compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the COVID -19 Pandemic
  • 15, Jan, 2021 Availability of CFSS-2020 Form for filing as eForm w.e.f 16th January 2021
  • 14, Jan, 2021 Waiver of Bank Guarantee in Transhipment of Import & Export Cargo via Sri Lanka and Bangladesh
  • 14, Jan, 2021 Requirement of Filing of Bill of Coastal Goods (BCG)
  • 12, Jan, 2021 Parliamentary Consultative Committee meeting on New Foreign Trade Policy 2021-26
  • 13, Jan, 2021 Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)
  • 13, Jan, 2021 Clarification on spending of CSR Funds for Awareness and public outreach on COVID-19 Vaccination Programme
  • 08, Jan, 2021 Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
  • 07, Jan, 2021 Exchange Rate of Foreign Currencies
  • 08, Jan, 2021 Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2021
  • 08, Jan, 2021 Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2021
  • 31, Dec, 2021 Interstate Migrant Workmen (Regulation of Employment and Conditions of Service)(Gujarat)(Amendment) Rules, 2020
  • 31, Dec, 2021 The Contract Labour (Regulation And Abolition) (Gujarat Amendment) Rules, 2020
  • 05, Jan, 2021 Introduction Of A Single Form For Trade License And Registration For Shops And Commercial Establishments In Haryana
  • 04, Jan, 2021 Declaration Of PF Rate Of Interest For EPF Members Account For The Year 2019-20
  • 24, Dec, 2020 OSPCB Issues Office Order Regarding Application fee for Authorization under Biomedical Waste Management Rules, 2016
  • 01, Jan, 2021 ESIC extends the due date of Return of Contribution for the period April 2020 to September 2020
  • 31, Dec, 2020 EPFO issues Notification on Aatmanirbhar Bharat Rojgar Yojana
  • 04, Dec, 2021 Customs Authority for Advance Rulings Regulations, 2021
  • 05, Jan, 2021 Introduction of Legal Entity Identifier(LEI) for Large Value Transactions in Centralised Payment Systems
  • 05, Jan, 2021 Operationalisation of Payments Infrastructure Development Fund (PIDF) Scheme
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