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The Government of India had constituted an Inter-Ministerial Group (IMG) for identifying gaps in the existing regulatory framework for deposit taking activities and to suggest administrative / legislative measures, including formulation of a new law, to cover all relevant aspects of ‘Deposit Taking’. IMG has finalized its Report and has suggested enactme..

The Government is committed to tackle the menace of unregulated ponzi deposit-taking schemes and take action against the offenders. The Ministry of Corporate Affairs has ordered investigations through Serious Fraud Investigation Office (SFIO) under Section 235 of the Companies Act, 1956 and Section 212 of the Companies Act, 2013 into the affairs of 187 companie..

As per the National Crime Records Bureau (NCRB) data, a total number of 9038, 10709 and 10050 cases have been registered under the Dowry Prohibition Act, 1961 during 2012, 2013 and 2014 respectively. Similarly, a total number of 8233, 8083 and 8455 cases were registered of Dowry Death in the country during 2012, 2013 and 2014 respectively.  All t..

Presently as on April 2016, 33 States/UTs are implementing NFSA and subsidised foodgrains are being provided to 72.45 crore beneficiaries (approx. 14.8 crore households). This is a big change from only 11 States/UTs, which  started implementation of NFSA by March 2014. The remaining States of Kerala, Tamil Nadu and Nagaland are also in an advanced stage of p..

The Government is committed to implement General Anti Avoidance Rule (GAAR) in the country from the next financial year. The commitment of the Government to implement GAAR from 1.4.2017, i.e., Assessment Year 2018-19 relevant to the Financial Year 2017-18, is also reflected in the Budget Speech 2016 delivered in the house on 29.02.2016.  The Gove..

The Government has made following amendment in the existing Atal Pension Yojana (APY) vide Government Notification F. No. 16//1/2015 PR dated 22nd March, 2016.  Option to the spouse of the subscriber to continue contribution to APY on death of subscriber before the age of 60 years:  “If the subscriber di..

Schedule VII of the Companies Act, 2013 enlists the activities, which can be undertaken by the companies under their CSR Policy. General Circular issued by the Ministry of Corporate Affairs on 18th June, 2014 suggests that the items enumerated in Schedule VII can be liberally interpreted to include a wide range of activities having implication for inclusive developm..

As per guidelines dated 15.04.2015 issued by the Government of India, the Ministries/Departments of the Government of India and other Public Authorities are proactively working towards suo-motu disclosure of information on their websites so as to reduce the need for filing RTI applications.    As per the Annual Report..

The Law Commission of India has submitted its Reports No. 248th, 249th, 250th, and 251st “Obsolete Laws: Warranting Immediate Repeal”, wherein it recommended for repeal of 72, 113, 74 and 30 obsolete Acts respectively. A Two-Member Committee was also constituted by the Prime Minister’s Office for review of repeal of obsolete laws. The Two-member Co..

The Government has proposed the following in the Finance Bill, 2016 with regard to the National Pension System (NPS):  i. Allowing 40 per cent of the NPS corpus tax exempt on lump sum withdrawal.  ii. Waiving service tax on the NPS corpus utilized for purchase of annuity.  iii. The amount receivable by the ..

The Employees' State Insurance Corporation (ESIC) under its 2nd Generation Reforms ESIC-2.0 has decided to open health scheme for selected group of unorganized workers like rickshaw-puller/auto-rickshaw drivers in selected urban/metropolitan areas by 30th November, 2015.  The Central Government has approved inclusion of the self-employed work..

The Forest Rights Act is being implemented across the country. Forest Rights Act is an act to recognize and vest pre-existing rights to forest dwelling Scheduled Tribes and other traditional forest dwellers.  Till 29.02.206, out of 44.15 lakh claims that have been filed, 17.20 lakh titles have been distributed over 89.90 lakh acres of forest land..

As per decision of Employees State Insurance (ESI) Corporation, expenditure on medical care under ESI Scheme is shared between ESI Corporation and the State Government in the ratio of 7:1 within a prescribed ceiling which is revised from time to time. Medical expenditure beyond this ceiling is to be borne by the concerned State Government.  Gover..

A proposal for comprehensive amendment to the Employees’ Provident Funds and Miscellaneous Provisions (EPF & MP) Act, 1952 is under consideration of the Government which, inter alia, includes reducing threshold limit for coverage from 20 to 10 employees under the Act.  This was stated by Shri Bandaru Dattatreya, MoS (IC) Labour and..

As per the Audited Consolidated Annual Accounts of Employees’ Provident Fund Organization (EPFO) for the year 2014-15, the closing balance of Funds managed by EPFO is Rs. 6,34,174.33 crore.  Regarding EPFO being the eleventh largest pension fund in the world, no such information is available with EPFO.  The fresh accrual..