Independent directors required to register in data bank
The Ministry of Corporate Affairs on 2nd December 2019 has launched the data-bank of independent directors under which all independent directors and candidates shall register. The companies can appoint independent directors only from the data-bank from now on. Passing the qualifying examination within 12 months shall be mandatory for independent directors from March 2020.
IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
IBBI vide new amendment to its regulations has altered the corporate insolvency resolution process. A new resolution plan by way of merger, amalgamation and demerger of corporate debtors is provided and resolution professionals and insolvency professionals are provided with a new timeline and an electronic platform to make filings. A new order of priority for repayment of, and a new system for representation and voting in resolutions of, creditors is also provided by the amendment.
ESI Corporation Restricts employers from filing monthly contribution after 42 days of the end of contribution period
ESI Corporation have restricted employers from filing monthly contribution or Returns of it after 42 days from end of contribution period, with effect from Contribution Period ending on 09/2019. ESI Corporation has provided facility to the employers for rectification of Returns of Contributions filed before.
FSSAI publishes list of laboratories authorized to analyse food sample taken under FSSAI Act and Rules.
A total of 183 laboratories possessing the NABL accreditation is enlisted vide Notification by FSSAI along with their validity of accreditation, scope of testing and the contact details.
E-commerce businesses providing platform for food business shall qualify as an FBO.
The third Party E-commerce platform providers are directed to obtain FSSAI license and ensure that all FBO’s using their platform possess FSSAI license and any default noticed shall be intimated to FSSAI. The FSSAI license of the FBO and every product sold shall be displayed in the website of all FBOs.