competition success review

competition success review

competition success review Published this article page no  91 Government is working in mission mode towards the next phase of Ease of Doing Business. o It includes easy registration of property faster disposal of commercial disputes and a simpler tax regime. Corporate Law measures  As part of decriminalization of Company Law defaults in 2018 16 compoundable offences such as shortcomings in CSR reporting inadequacies in board report filing defaults delay in holding Annual General Meeting (AGM) have been decriminalised.  Adoption of an Integrated Web based Incorporation Form namely Simplified Proforma for Incorporating Company Electronically Plus (SPICe+) which extends 10 services of different Ministries and one State Government service through a single form.  A Databank of Independent Directors has been launched along with rationalization of provisions regarding Related Party Transactions (RPTs). Insolvency and Bankruptcy Code (IBC) related measures  Minimum threshold to initiate insolvency proceedings has been raised to Rs. 1 crore (from Rs. 1 lakh which indirectly insulates MSMEs).  Special insolvency resolution framework for MSMEs under Section 240A of the Code to be notified soon.  Accounting the distress created by COVID19 fresh initiation of insolvency proceedings up to one year has been suspended depending upon the pandemic situation.  Central Government has been empowered to exclude COVID19 related debt from the definition of default under the Code for the purpose of triggering insolvency proceedings. Other measures  Direct listing of securities by Indian public companies has been made permissible in foreign jurisdictions.  Private companies which list Nonconvertible Debentures (NCDs) on stock exchanges will not be regarded as listed companies. This will indirectly ease the compliance issues faced by private firms when classified as listed companies. o NCDs are a debt instrument with a fixed tenure and people who invest in these receive regular interest at a certain rate competition success review buy. 

competition success review