Tuesday, 28 September 2021



LATEST NEWS Union MoRTH Nitin Gadkari, Lt Governor lay foundation for four National Highway Projects worth Rs 3612 Cr Two-day visit of Union Minister for I&B to Ganderbal concludes Rs 200 Cr. allotted for Development of sports infrastructure on modern pattern in U.T of J&K : Anurag Thakur Ramdas Athawale takes stock of implementation of social welfare schemes in Jammu Union Minister of State Tribal Affairs Renuka Singh visits District Kulgam Union MoS Road Transport and Highways, Civil Aviation Dr. V. K. Singh visits Anantnag Union MoS, Tribal Affairs Renuka Singh interacts with DDC, BDC members, other PRI representatives at Kulgam Union Minister of State for Finance inaugurates various development projects in Jammu Union MoS Jal Shakti, Tribal Affairs, Bishweswar Tudu concludes visit to Kishtwar Lt Governor visits “The Paradise Fest” organized to celebrate World Tourism Week Charanjit Singh Channi Asks Administrative Secretaries To Prepare 100 Days Roadmap To Ensure Holistic Development Of State Charanjit Singh Channi Calls Emergency Meeting On Farmers' Issues In Wake Of 'Bharat Bandh' Call Given By Samyukt Kisan Morcha Charanjit Singh Channi Curtails Security Of VVIPs SSP Pulwama Gulam Jeelani Wani, assume charge, held introductory meeting with Visits various posts of district police Pulwama Parliamentarian Delegation arriving to interact with common people in Kashmir Assam's highest civilian award for national integration to be conferred by V-P Naidu RSS statement on Amazon irrelevant : Randeep Singh Surjewala India-US enhanced ties to boost research, health management : Bharati Pravin Pawar Shafali Verma and Radha Yadav sign up for Sydney Sixers in WBBL England cricketer Moeen Ali retires from Test cricket Don't see that aggressiveness in this Mumbai Indians side : Zaheer Khan


Cabinet okays multilateral MoU between IFSCA and global agencies

Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs, BJP, Bharatiya Janata Party, Anurag Thakur, Anurag Singh Thakur

Web Admin

Web Admin

5 Dariya News

New Delhi , 28 Jul 2021

The Union Cabinet has approved a multilateral MoU between International Financial Services Centres Authority (IFSCA), the International Organisation of Securities Commissions (IOSCO), and the International Association of Insurance Supervisors (IAIS).Addressing the media, post the Cabinet meeting, Finance Minister Nirmala Sitharaman the pact will enable ease of doing business for companies in GIFT city."This is one of the biggest multilateral forum which has several regulators coming into it. It has 124 signatories. India joining this will enable all kinds of exchange of information and ease of doing business for those who are registering themselves in the gift city," she said.Noting that there is single window for all regulators in GIFT City, Sitharaman said that in many of these international benchmark setting agencies cross-border cooperation is one of the biggest aspects, and India will be gain from that.

'Amendments to LLP Act to boost ease of doing business'

With the Union Cabinet approving amendments to the Limited Liability Partnership Act, experts and industry stakeholders have lauded the move and said that decision is a major development towards ease of doing business."Amendment in LLP act proposes to now remove the criminality angle in respect of violations and will now only entail pecuniary penalty by way of a fine with no criminal action. This will facilitate the middle-level entrepreneur in their business activities and growth," Resurgent India Managing Director Jyoti Prakash Gadia said.Describing the decision as welcome move, ADIF Executive Director Sijo Kuruvilla George said that it is founder-friendly development.The amendment will make LLPs an even more attractive vehicle and India a more sought-after destination, he said."The move will help simplify the life of founders and exudes confidence in the government's intent towards bringing about real of ease of doing business."The Union Cabinet on Wednesday cleared the Limited Liability Partnership Amendment Bill to accelerate the Ease Of Doing Business campaign of the government.According to Finance Minister Nirmala Sitharaman, changes are being made in the Companies Act, decriminalising many sections and improving the Ease Of Doing Business for companies."A similar treatment had to be given for LLPs," she said.Accordingly, a total of 12 offences are to be decriminalised for LLPs, and three sections will be omitted.These amendments, she said, will bring the LLPs on an equal playing field, compared to large companies which come under the Companies Act.The definition of LLP is also being changed and accordingly individual contribution level of partners being raised from Rs 25 lakh to Rs 5 crore and turnover from Rs 40 lakh to Rs 50 crore.


Tags: Nirmala Sitharaman , Union Minister for Finance & Corporate Affairs , BJP , Bharatiya Janata Party , Anurag Thakur , Anurag Singh Thakur



related news



Photo Gallery



Video Gallery



5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2021 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD