Lok Sabha has passed the Companies Amendment Bill, 2020
The Lok Sabha on 19 September 2020 passed the Companies Amendment Bill, 2020 which seeks to amend several provisions of the Companies Act, 2013. The Bills, based on the recommendations of the Company Law Committee and internal review by the Government, proposed to amend various provisions of the Act to decriminalise minor procedural or technical lapses under the provisions of the said Act, into civil wrong; and considering the overall pendency of the courts, a principle based approach has been adopted to further remove criminality in case of defaults, which can be determined objectively and which otherwise lack any element of fraud or do not involve larger public interest. In addition, the Government
also proposes to provide greater ease of living to corporates through certain other amendments to the Act.
IRDAI permits insurers to use video KYC for verification.
The insurers shall develop their application and undertake live VBIP carried out by an authorized person appointed by the insurer for the establishment, continuation, and verification of account-based relationship with the prospective customer.
The government of Madhya Pradesh brings in amendment to Madhya Pradesh Pharmacy Rules, 1978.
As per the amendment, in case if the registration certificate is lost or destroyed the holder may, at any time during which such certificate is in force, apply to the registrar under section 39 of the pharmacy Act for a fresh certificate.
UP Government issues guidelines for implementation of Uttar Pradesh Micro, Small and Medium Enterprises (Establishment and Operation Simplification) Act-2020.
The Act proposes to exempt MSMEs from various approvals and inspections that are required for their establishment and operations in the initial years.
Telangana to implement Auto-renewal of License under Interstate migrant workers Act
The labour Department of Telengana has authorised the Commissioner of labour to implement auto-renewal of license issued under Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979 without the requirement to make a separate application for the same, subject to receipt of prescribed fee.
CDSCO directs drug importers to furnish certificate of analysis and other documents to the authority.
The importers shall ensure in the declaration or bill of entry that the packaging is not damaged/broken/destroyed and the content of drug/cosmetic has not deteriorated in the format provided in the notification.
The government of Madhya Pradesh issues instructions on implementing computerized centralized inspection system.
The computerized inspection system will be in force from 15th September 2020.
Government of Andhra Pradesh has levied Additional Retail Excise tax (ARET) on liquor.
The additional tax will be levied on the issue price of Indian Made Foreign Liquor, Foreign liquor, beer, wine and ready to drink varieties supplied by wholesale IMPL depots to the licensees of bars.
The government of Andhra Pradesh has levied COVID Fee on Bar Licenses.
The Government has levied a COVID fee on each of the Bar licenses of an amount equal to 20% of the base License fee and non-refundable Registration Charge for the year 2020-21.
