Maharashtra notifies Special Allowance under Minimum Wages Act payable from 01.07.2022 to 31.12.2022 for various employments
Maharashtra notifies Special Allowance under Minimum Wages Act payable from 01.07.2022 to 31.12.2022 for various employments
Maharashtra publishes Consumer Price Index No for Industrial Workers, Base Year 2016=100, for the month of June 2022.
Entries in Books of Account/Balance sheet of a company can be treated as acknowledgement of liability in respect of debt payable to a financial creditor.
In a bid to expand the current ecosystem of incubators and to provide them with access to global benchmarks and best practices, Atal Innovation Mission (AIM), NITI Aayog, has announced applications for Atal Incubation Centre (AIC) and Atal Community Innovation Centre (ACIC).
The programs aim to create and support the innovation ecosystem in the country by establishing world-class institutions that help budding entrepreneurs.
AIC is an initiative of the AIM, NITI Aayog to foster innovation and entrepreneurial spirit while creating a supportive ecosystem for start-ups and entrepreneurs in India. Each AIC is supported with a grant of up to INR 10 crores over a period of 5 years.
ACIC is envisaged to serve the unserved/underserved areas of the country with respect to the start-up and innovation ecosystem. Each ACIC is supported with a grant of up to INR 2.5 crores over a period of 5 years. AIM has established 14 Atal Community Innovation Centres across the country.
These AICs and ACICs will play a pivotal role in enriching the start-up and entrepreneurship ecosystem of India and echo the anthem of Atmanirbhar Bharat.
The Bombay Chamber of Commerce and Industry organised a networking event with the support of the Royal Danish Embassy, New Delhi for companies within the energy, water, health and agriculture sectors, focusing on the sustainability agenda. This aligns with Denmark’s Green Strategic Partnership with India.
Speaking at the event, Mr. Sandeep Khosla, Director General, Bombay Chamber briefed on the legacy of the Bombay Chamber and highlighted the Bombay chamber’s initiative under the ADB project on Internationalisation of SMEs/ Startups.
Ms. Anjali Bansal, President, Bombay Chamber emphasised on the Bombay Chamber’s initiative in the areas of Sustainability, Digital, Water, Energy, Agriculture and Startups. She also spoke about the innovative and entrepreneurial spirit in the country, which has helped India leapfrog from fixed line mobility to now having among the lowest cost, largest data networks in the world.
Mr. Søren Nørrelund Kannik-Marquardsen, Minister Commercial Counsellor and Head of the Trade Council, New Delhi & Regional Coordinator South Asia, spoke about Denmark’s relationship with india, which dates back to 1620, when an agreement was reached between the local King in Thanjavur and the Danish King, Christian the 4th, for the lease of land at the town of Tranquebar. He also briefed the participating companies on emerging business opportunities in Denmark and available platforms for collaboration. Denmark will be hosting the World Water Congress & Exhibition in Copenhagen, bringing together water professionals and engaging the water-consuming industry.
The Consul General, Head of Trade & Innovation at the Consulate General of Denmark in Bangalore, Mr. Eske Bo Rosenberg, shared his insights on collaborating with Danish companies. He also highlighted some of the initiatives that they have launched, including the establishment of a Centre of Excellences in Green Hydrogen and UNLEASH 2022 – an SDG solutions lab gathering 1000 talents from around the world on the Infosys Campus in Mysore in December. Innovation Centre Denmark Bangalore is working with Local bodies, Industry / Corporates, Academia, and Startups to promote innovation, trade and investment opportunities.
The Royal Danish Embassy and the Innovation Centre of Denmark, along with the Bombay Chamber also expressed their interest to explore opportunities for collaboration and promoting bilateral trade and investment activities.
Some of the Indian companies who were present at the meeting were FarmDidi, GMCL Village Herbs, Waycool Foods, Nichem Solutions, GFresh Agrotech, Prognostics In-med, Epocare, InterGest South Asia, Dgtl Innovations and Tisser Artisans and Maharashtra Hybrid Seed Company (Mahyco), PIVOT Management Consulting, Ideabridge (Plus Innovations Technologies LLP), SustLabs, EcoScoot Mobility.
In continuation to the earlier Trade Notice 24/2021-22 dated 15.11.2021, Trade Notice 42/2020-2021 dated 19.02.2021, 48/2020 2021 dated 25.03.2021, 10/2021-2022 dated 19.07.2021, 19/2021-2022 dated 01.10.2021, 21/2021-22 dated 18.10.2021, 32/2021-22 dated 24.01.2022 and 04/2022-2023 dated 27.04.2022, it is informed that the transition period for mandatory filing of applications for Non-Preferential Certificate of Origin through the e-CoO Platform has been further extended till 31st March 2023.
The state-run, non-banking financial company, Kerala Financial Corporation (KFC), has introduced a loan scheme whereby loans up to Rs 10 crore will be available under an annual interest rate of 5%.
Under the scheme, Industrial units that have MSME registration from across agro, dairy, and animal husbandry-related industries; agro-based start-ups; units engaged in processing, marketing and trading of agro-based products; warehouses and godowns; cold storages; and other agri-infrastructure projects.
While the Government of Kerala will provide a 3% subsidy, KFC will provide a further subsidy of 2%. KFC is looking to target 2500 enterprises in five years and will set aside Rs 300 crore every year for the same.
The repayment period will be for a period of up to 10 years, however, the interest subsidy will be available for the first five yeast alone.
The Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal has reinforced India’s commitment to unlocking trade potential with the Central Asian region through the use of Chabahar Port in Iran.
Speaking at an event organised on the occasion of ‘Chabahar Day’, Union Ports, Shipping & Waterways Ministry along with the Indian Ports Global Ltd. (IPGL), the Minister said, “Our vision is to make Chabahar Port a transit hub under the International North-South Transport Corridor (INSTC) to reach out to CIS countries. The idea of INSTC via the vibrant Shahid Beheshti Port at Chabahar in Iran is to connect the two markets using a multi-modal logistic corridor. This will rationalise our logistics cost which will contribute towards the trade volume between the two regions.” he said.
Located in Iran, the Chabahar Port is the commercial transit centre for the region, especially Central Asia. According to the Minister, the loading and unloading capacity of the Shahid Beheshti Port at Chabhar which today stands at 8.5 million tonnes, will be enhanced to 15 million tonnes on completion of Phase I of the project
Sonowal also urged all stakeholders to provide suggestions on promoting the Chabahar INSTC Link to further reduce the transportation time, open a shorter, faster and more reliable route from India to Central Asia and increase the feasibility of hassle-free trade between the two regions.
Operational Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/or Commercial Paper. Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015(‘Listing Regulations’), prescribes the continuous disclosure requirements for issuers of listed Non-convertible Securities, Securitized Debt Instruments and Commercial Paper. Multiple circulars have been issued, over the years, covering the operational and procedural aspects thereof.
Securities and Exchange Board of India (“SEBI”) has, vide various Circulars issued from time to time, mandated that addresses form a critical part of the Know Your Client (“KYC”) procedures. Thus, every address recorded for the purpose of compliance with KYC procedure has to be accurate. An intermediary has to update the address from time to time. However, it has been observed that in some cases accurate/updated addresses of clients are not maintained. This is borne out of the fact that when SEBI issues any notices, etc. during the course of any enforcement proceedings on such addresses, the same remain unserved. 2.To ensure that the client furnishes accurate/updated details of address and to ensure that KYC details are correct, the following framework involving stock exchanges(except Commodity Derivatives Exchanges)and depositories (hereinafter collectively referred to as “the MIIs”) is proposed.