Insolvency and Bankruptcy Code 2016 - Increasing threshold to Rs. 1 crore to initiate insolvency proceedings

The threshold of default under section 4 of the Insolvency and Bankruptcy Code ('IBC') is raised to Rs 10 million (from the existing threshold of Rs 100,000). This will prevent triggering of insolvency proceedings against Medium, Small and Micro Enterprises. Further, it was announced that if the impact of pandemic and current situation prevails beyond April 30, 2020, the provisions of section 7, 9 and 10 of the IBC may be suspended for a period of 6 months. Notification - Increase in threshold

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Consolidated guidelines issued by Ministry of Home Affairs for containment of COVID-19 in the country

The Ministry of Home Affairs has issued consolidated guidelines on the measures to be taken for containment of COVID-19 in the country. Guidelines have been issued on below subjects: - List of Activities to remain prohibited 3rd May, 2020 Operation of guidelines in Hotspots and containment zones List of Select permitted activities allowed with effect from 20th April, 2020 Strict enforcement of the lockdown guidelines All health services to remain functional Agriculture & related activities Functional areas in Financial sector Social sector Online teaching MNREGA workers Public utilities Movement of goods Supply of essential commodities Private Establishments Industrial Establishments Construction activities Movement of people Government offices Persons to remain under mandatory quarantine Lockdown instructions Penal provisions To view, the guidelines in detail, kindly click on below link Ministry of Home Affairs- Order

SEBI- Measures to further facilitate fund raising from capital markets in the backdrop of COVID-19 pandemic

In the wake of challenges for the Indian economy arising out of the Covid-19 pandemic and with a view to improving access to funding to the corporates through capital markets, SEBI has decided to grant certain temporary relaxations from the regulatory provisions related to rights/ public issuances by listed entities. Rights Issues 1. Fast track Rights issuances Towards expanding the universe of listed entities for the purpose of fast track rights issuances, SEBI has relaxed the following conditions: The eligibility requirement of average market capitalisation of public shareholding of INR 250 crores has been reduced to INR 100 crores. The requirement related to period of listing of equity shares of the issuer for at least three years has been reduced to listing for eighteen months only. The condition related to no audit qualifications on issuer’s audited accounts has been replaced with the requirement to disclose the impact of audit qualifications on issuer...

Ministry of Home Affairs (MHA) directs all States/UTs to provide necessary Police Security to Doctors

In view of reported incidents of harassment of Doctors and Medical Staff, Union Ministry of Home Affairs (MHA) has directed all States/UTs and respective Police authorities to provide necessary Police Security to them in hospitals and at places where patients who have been diagnosed COVID-19 positive or where suspected cases are quarantined. It has also been communicated to provide necessary police security to doctors and medical staff who visit places to conduct screening of people to find out symptoms of the disease. Press Release

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