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    FM: Present Government has taken a new initiative by setting-up a modern insolvency mechanism based on the best practices in the world; Hope that it w...
    Insolvency and Bankruptcy Board (IBBI) of India notifies two Regulations; The IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agen...
    FM: To ensure future increases in agriculture output and farmers’ income by 2022, focus should be on higher agriculture productivity; To increase th...
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    November 29, 2016
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    Insolvency Professional Agency registration enables enrolment and regulation of insolvency professionals, advancing the new insolvency framework.
    Two Section 8 not-for-profit companies have been registered as Insolvency Professional Agencies authorised to enrol insolvency professionals, prescribe and monitor standards of professional conduct, supervise member performance and redress consumer grievances; their registration under the Insolvency Professional Regulations, 2016 enables commencement of professional enrolment and advances implementation of the Insolvency and Bankruptcy Code, 2016.
    November 23, 2016
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    Insolvency professional agency eligibility updated: new regulations set corporate eligibility, board composition and mandatory oversight committees.
    The IBBI notified two regulations prescribing eligibility norms and governance requirements for Insolvency Professional Agencies and professional members. Eligible agencies must satisfy a minimum net worth requirement, restrict the share of insolvency professionals on their boards while ensuring a majority of independent directors, adopt model bye-laws, and constitute Membership, Monitoring, Grievance Redressal, and Disciplinary Committees to regulate enrollment, oversight, complaints, and disciplinary processes.
    November 19, 2016
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    National Agriculture Market reforms to integrate regulated mandis and improve farmer price benefits through technology and market access.
    Prioritise agricultural productivity and farmer incomes through technology (high-yield seeds, water-efficient irrigation, IT tools linking farmers and consumers) and revisit farming incentives to reduce wastage and improve marketing. Implement a National Agriculture Market by integrating over five hundred regulated mandis via State APMC Act reforms. Operational suggestions include increased funds to District Cooperative Banks post demonetisation, cargo hubs/dry ports at production centres, Agriculture Marketing Research Departments at universities, debt-relief schemes, enforced differential interest rates for agriculture, innovation awards, cold-chain investment, and larger budgetary support for agriculture.
    November 18, 2016
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    Unclaimed dividend transfers to Investor Education and Protection Fund require budgeted refunds to eligible investors and investor awareness funding.
    Specified unclaimed and unpaid amounts, including unclaimed dividends, must be credited to the Investor Education and Protection Fund; such amounts are part of the Consolidated Fund, and the Ministry receives separate budgetary allocations from that Fund to refund eligible investors whose amounts were credited and to finance investor awareness activities under the Companies Act.
    November 18, 2016
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    Definition of fraud expanded under company law, strengthening SFIO powers and mandating technology-driven fraud detection.
    SFIO has handled a rising volume of corporate fraud references, initiating numerous prosecutions with several court disposals and convictions imposing imprisonment and fines on directors. Its statutory mandate under company law is to investigate violations of the Companies Act and pursue penal action. The Government has strengthened fraud detection and response by defining Fraud in the Companies Act, conferring statutory status on SFIO, and deploying technology such as data mining and Forensic Audit; SFIO's year-to-year expenditures have been reported.
    November 9, 2016
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    Investor Education and Protection Fund Authority sets recruitment, deputation, pay and service conditions for its officers and employees.
    These rules set recruitment, pay bands, grade pay, deputation procedures, eligibility and service conditions for all officers and employees of the IEPF Authority. The Schedule specifies posts, methods of recruitment and selection committees; deputation appointments require invited applications and evaluation by the Schedule specified committee. Deputation periods are three years for grade pay below Rs.6600 and five years for grade pay Rs.8700 or above, subject to extension and a maximum deputation age of fifty six; service conditions, HRA, leave and disciplinary procedures follow corresponding Central Government rules.

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