IBBI

Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2022 (JUL 4, 2022 )

In exercise of the powers conferred by sections 196, 207 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.

For Gazette Notification, Click Here

Ministry of Food Processing Industries  

Odisha, UP, AP emerge as top three states among General Category States in the 1st ‘State Ranking Index for NFSA’; Tripura, Himachal Pradesh and Sikkim take top three positions in the Special Category States/UTs (JUL 5, 2022)

Union Minister of Consumer Affairs, Food & Public Distribution, Textiles and Commerce and Industry, Shri Piyush Goyal released the 1st edition of ‘State Ranking Index for NFSA’ during the conference of Food Ministers of States/UTs on ‘Food Nutrition and Security in India’ organized by Department of Food and Public Distribution here today.

This “State ranking Index for NFSA” attempts to document the status and progress of implementation of NFSA and various reform initiatives across the country, post consultation with states. It highlights the reforms undertaken by States and UTs and create a cross-learning environment and scale-up reform measures by all states and union territories.

For Details, Click Here 

SUPREME COURT 

Citizens write to Supreme Court on stern observations against Nupur Sharma ( JUL 5, 2022 )

The Supreme Court on Friday refused to entertain Sharma’s petition to club FIRs against her in different states over her remarks on Prophet Muhammad with the one in Delhi. A vacation bench of Justices Surya Kant and JB Pardiwala came down heavily on the suspended BJP spokesperson, saying she had a ‘loose tongue’ and was single-handedly responsible for igniting the country that resulted in the beheading of a tailor in Udaipur last week for allegedly sharing her remarks.

Following the caustic comments against Sharma by the Supreme Court bench, a number of signatories, coordinated by Justice PN Ravindran, former judge of Kerala High Court, and Anand Bose, former chief secretary of Kerala, issued a statement, saying the comments and the actions of the highest court in the country was “an outrage on the Preamble, spirit and essence of the Constitution of India”.

For Details, Click Here

BUSINESS NEWS 

Twitter moves Karnataka High Court against Indian govt's content blocking orders (JUL 5, 2022)

Twitter has moved the Karnataka High Court against the Indian government's content blocking orders on its platform, on the grounds that the content blocking directives from the IT Ministry do not pass "the test of the grounds provided under Section 69A of the IT Act", reliable sources said on Tuesday.  

The government had asked Twitter to act on the content take-down notices sent under Section 69A of the IT Act, along with non-compliance notices issued for not taking the content down.

The IT Ministry was yet to react to Twitter's move to the court.

For News Report, Click Here

NEWS AT GLANCE 

  • Amravati court in Maharashtra remands seven suspects to NIA custody in chemist Umesh Kolhe murder case.

  • Hotels and Restaurants barred from levying service charge.

  • Prime Minister Narendra Modi inaugurates Digital India Week at Gandhinagar in Gujarat; Says, India’s FinTech endeavour is truly a solution by the people, of the people and for the people.

  • Process of filing nominations for Vice Presidential Election begins with issuance of notification; Nominations can be filed till 19th of July.

  • Sri Lanka to present debt restructuring programme to IMF by August, says Ranil Wickremesinghe

WORD OF THE DAY 

“Ex nudo pacto actio non oritur” means “An agreement made without consideration is void.” This Maxim is related to the Indian Contract Act, 1872. There are various elements which are essential to form a valid contract. One of them is Consideration.

MARKET TODAY ( as on 5.7.2022 )

BSE SENSEX                 53,134.35 ▼ 100.42 (0.19%)        

NIFTY 50                       15,810.85 ▼ 24.50 (0.15%)

1 US Dollar = 79.27 Indian Rupee ( Last updated · 5 July at 1:53 pm UTC )

MyLawman is now on Telegram (t.me/mylawman) Follow us for regular legal updates. Follow us on Google News, Instagram, LinkedIn, Facebook & Twitter or join our Whatsapp group .You can also subscribe for our Newsletter for Email Updates.