-Scroll.in The Insolvency and Banking Code was brought in as a law in May 2016 to resolve cases of unpaid debts by companies. It allows creditors to initiate insolvency proceedings against defaulting companies so as to recover their money. The code was thought necessary because existing systems of dealing with insolvent companies had failed to deliver, with cases dragging on for years without result. The code sets up an Insolvency and Bankruptcy...
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lack of transparency plagues India's new insolvency and bankruptcy regime -Nitin Sethi
-Scroll.in A year after its launch, the new process that handles the recovery of crores of rupees of unpaid corporate debt is shrouded in opaqueness. India’s new insolvency and bankruptcy regime has been functioning for a year without any disclosure norms or mandatory transparency regulations. In the first year of its application, the regime is already dealing with more than 450 cases that add up to thousands of crores of rupees...
More »Government pays little heed to NREGA workers' demands
-Press release from NREGA Sangharsh Morcha For the past five days, hundreds of National Rural Employment Guarantee Act (NREGA) workers and their supporters from across the country have gathered at Jantar Mantar to demand the implementation of the employment guarantee act in letter and spirit. They are demanding a substantial increase in the NREGA wages, timely payment of wages, implementation of local plans, expansion of existing entitlements and adequate budget for...
More »CIC backlog grows as vacancies remain unfilled -Vidya Venkat
-The Hindu Of the 18,518 cases registered as appeals, 13,796 were returned to appellants There are a whopping 24,302 cases related to information appeals pending with the Central Information Commission as on Thursday, according to the CIC website. This backlog is in spite of the fact that the Commission is returning a majority of appeals coming to it, citing lack of documentation, premature appeals or forwarding of cases to the relevant State...
More »SC bench observes apathy for legal provisions under NFSA by state govts.
Will you go and make complaints to the same public official against whom you have a grievance? Of course not. However, in a judgement dated 21 July, 2017 by a two-judge Supreme Court (SC) bench, it has been observed that officers in charge of implementation of the National Food Security Act (NFSA), were also designated as District Grievance Redressal Officers (DGROs) by several state governments. Section 15 of NFSA The SC...
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