#Budget2023 is the prime focus right now and with it are the #budgetexpectations! Business, industries and sectors are sharing their expectations from the upcoming Budget which will be released tomorrow.
Watch on #LawWiser pre-budget expectations #RealEstate, as shared by Harsh Shah, Partner, Economic Laws Practice (ELP). Watch Harsh shares insights on expectations with GST law for the real estate sector.
Tune in to watch and understand
– Key changes expected in the budget for the real estate sector
– Deductions on account of land
– GST on redeveloped units
– Low-cost housing benefits
– Optional to permit payment of GST using ITC at a higher rate or lower rate with no ITC
The RBI has recently rolled out retail digital rupee project. This project has been most talked about, as it aims to meet the need of public for digital currencies.
Watch LawWiser’s latest video on RBI’s Retail Digital Rupee Roll-out, where our host takes us through the details of this project.
Watch now the second video of ‘Must Know Renting Laws’ Series. As you become a homeowner, there are certain rights conferred to you.
But, what are those rights and how do they benefit you?
Today, Avani Shukla, Associate – Content and Collaborations, LawWiser, will take you through a very important part of renting laws which is – ‘Laws Protecting Homeowners.’
We present to you the combined video of our 3 part series- The Beginner’s Guide to Fundraising (How can founders choose?)
This interesting Q&A with Rohini Nair, Partner & Founding Member, ANB Legal- India, alongside our host Lavanya Behl Founder & CGO, LawWiser will help you understand and learn about-
– Different options available when it comes to fundraising and critical compliances to be ensured
– Equity & Debt with their pros and cons, parameters to evaluate and the founder’s concern
– Personal liability of founders, provisions founders should be careful of while evaluating the contracts.
The Ministry of Electronics and Information Technology (MEITY) has issued a draft amendment to the Information Technology (IT) rules, 2021.
The MEITY has said that the amendment is aimed at curbing the spread of fake news and misinformation.
Tune into #LawWiser premium on “MEITY issues Draft Amendment to IT Rules, 2021” by Prabhjot Singh sharing the amendments in a precise way.
He says that the main focus of these amendments has been on the intermediaries stating that they may additionally create their community standards as per their business policies and to respect the principles of the Constitution of India.
Some of the principles have been implied as allowing the Indian constitution, laws, and rules in letter and spirit and removing illegal and damaging information that violates their terms and conditions.
When people report something, it should be deleted swiftly, and the users should be given a way to complain.
To see more such interesting videos, subscribe to #LawWiser Premium.
Welcome to the second part of the video on- MSME Sustainable (ZED) Certification scheme If you haven’t watched the first part you can access it in the description box below. In the second part watch – Subsidy on the cost of certification, certification process, surveillance and renewal process after expiration. Any number of units that are registered under UDYAM registration can apply for subsidy under this scheme. All these individual units under one UDYAM registration have to apply separately for the certification to avail benefits and incentives associated with it. All the MSMEs will get financial assistance and subsidy mile for obtaining a ZED certification Level. The subsidy on the cost of certification will be given in the form of the following structure – If you are a micro-enterprises – 80%, small enterprises- 60% and medium enterprises- 50%.
You can also get some additional subsidies-
10% subsidy if your MSME is owned by women/sc/st entrepreneurs or the MSME is situated in NER/ Himalayan/LWE/Island territories/ aspirational districts.
You will get an additional 5% subsidy if your MSME is part of ministries SFURTi or Micro; Small and Medium Enterprises- Cluster Development Programme of the ministry.
You will also learn about the certification process, gap analysis, handholding and surveillance. If you have any queries please let us know in the comment box below and do visit our website Lawwiser.
The Ministry of Corporate Affairs (MCA) notified the Limited Liability Partnership (Second Amendment) Rules, 2022 (LLP Rules). As per the current reports, the amendments are divided into few segments which are listed below:-
Allotment of the new name to existing LLP
Increase in Allotment of Number of DPINs at the time of incorporation
Allotment of PAN and TAN with the Certificate of Incorporation
Relaxation in requirement of mentioning the name of the authority Let’s discuss the following amendments:-
Allotment of the new name to existing LLP This amendment has been inserted in Rule 19 (1) of LLP rules, 2009 which says that if a proprietor of a company has a registered trademark similar to another company’s trademark that is registered subsequently, he may now apply to the regional director for the purpose of giving him the direction to change its name or establish a new name.
Increase in Allotment of Number of DPINs at the time of incorporation This change was made in relation to the allocation of a Designated Partner Identification Number (DPIN) during the incorporation process. The latest amendment now states that for incorporation, five DPINs can be used. As per the earlier provision, an LLP could apply for a maximum of two DPINs at the time of formation.
Allotment of PAN and TAN along with the certificate of incorporation This particular amendment says that PAN and TAN will be allotted with the Certificate of Incorporation; the main objective of this amendment is to line up the process of incorporation of LLP as that of a company. Previously, there was no such provision that the PAN and TAN were to be linked with the Certificate of Incorporation; there was an entirely separate procedure for PAN and TAN.
Relaxation w.r.t. mentioning the name of the authority With this new rule, a specific relaxation has been given to the founders of LLP for changing the name of their LLP. Now they don’t need to attach the authority to which the application is to be given. This amendment will lower the compliance burdens on the LLPs and making the procedure seamless.
Signing of Statement of Accounts & Insolvency of LLPs under Insolvency The amended provisions prescribe that Statement of Account and Solvency may be signed on behalf of the LLP by an Interim Resolution Professional or Resolution Professional, or Liquidator or LLP Administrator in case where the Corporate Insolvency Resolution Process (CIRP) has been initiated against the LLP under the IBC, 2016 or the LLP Act, 2008. Prior to the amendment, Rule 24 (6) of the LLP Rules, 2009 prescribed that the Statement of Account and Solvency of the LLP to be signed by its designated partners. There were no provisions with regard to the signing of the Statement of Account and Solvency of the LLPs under insolvency.
Key Takeaways These specific amendments will not only simplify the procedure but will also save a lot of time for the LLP founders aiming for the expansion of their respective businesses.
On February 20, 2020, the Ministry of Environment, Forest and Climate Change (MoEFCC) published the draft Battery Waste Management Rules, 2020, which will supersede the Batteries (Management and Handling) Rules, 2001.
Tune into #LawWiser premium video on “Glimpse of Draft Battery Waste Management Rules 2020” where Prabhjot precisely explains the battery waste management rules.
In the video, Prabhjot explains that
1.No battery or battery pack may be placed on the market unless it is labeled with the “crossed-out wheeled bin symbol” (see below) covering at least 5% of the area of the battery or battery pack’s biggest side.
2. No one may sell a button cell that contains more than 0.0005 per cent mercury by weight unless it is labeled with the chemical symbol “Hg,” a battery that contains more than 0.002 percent mercury by weight unless it is labeled with the chemical symbol “Cd,” or a battery that contains more than 0.004 percent lead by weight unless it is labeled with the chemical symbol Pb.
He also tells us that Extended Producers Obligation is the responsibility of the producer, and each producer must get EPR authorization from the Central Pollution Control Board or the State Pollution Control Board.
Recently the Ministry of Power has issued some guidelines for the procurement of utilization of battery energy storage systems (BESS). The Ministry has established procurement and usage rules for battery energy storage systems as part of a slew of renewable-energy generating projects. It also seeks to stabilize power supply, boost total energy, and prolong supply time from a single renewable energy project or a portfolio of renewable energy projects, as well as provide grid support and flexibility services.
The applicability of these guidelines is as follows:-
The guidelines are issued under Section 63 of the Electricity Act, 2003. Through the process of competitive bidding, energy will be procured from BESS, from the grid associated projects. Below are the following minimum projects and the bid capacity requirements.
(i) Minimum individual project size of 1MW and above with adequate energy rating based on the application at one site with minimum bid capacity of 1MW for intra-state projects; and
(ii) For Inter-State Projects: Minimum individual project capacity of 50 MW and above with appropriate energy ratings based on the application at one site with a minimum bid capacity of 50 MW at the minimum voltage level as stated by the current CERC rules and regs Process.
(iii) The BESSD/Procurer/Intermediary Procurer/End Procurer/Implementing Agency and the Authorized Representative of the Procurer are bound by the terms of these Guidelines. Clause A, Section V of these Guidelines outlines the procedure to be followed in the event of any planned variation from these Standards.
(iv) As per one of the guidelines, the earnest must not be more than the 2% of the estimated capital cost of the batter storage project. As an addition, the PBG amount was reduced to 3% for all the renewable projects.
(v) To meet the performance criteria, the BESS developer will be authorized to replenish the battery capacity from time to time.
(vi)The implementation, evacuation arrangements and the capital costs will be paid by the BESSD or either by the renewable energy park developer or any other agency.
(vii) In any situation, where the procurer does not specify the project site, it will wholly be the responsibility of developer to provide connectivity and the grid access to transmission.
It is to be noted that these guidelines shall be binding on the procurer/intermediary/end procurer and the person who is acting as an official representative of the procurer.
Major Objectives of the Guidelines
• To provide fairness and transparency in the procurement processes by providing the governing framework.
• To establish standardization and regularity in the processes and a risk-sharing framework.
• To increase the energy storage and storage capacity procurement which in turn can level up the competition and bankability.
Watch Sanjana Aravamudhan, Associate consultant at Dua Consulting in this video takes us through the regulatory ecosystem surrounding the protection of patient privacy in tele medicine.
She starts by explaining privacy under the intermediary rules where she also talks about the Intermediary guidelines.
While talking about exemption she stated-
As per section 79 of the IT Act, an Intermediary is not liable for any third-party information, data, or communication link made available or hosted by it. This exemption applies only if:
i. the function of the intermediary is limited to providing access to a communication system over which information made available by third parties is transmitted or temporarily stored or hosted;
ii. the intermediary does not – initiate the transmission; select the receiver of the transmission AND select or modify the information contained in the transmission; and
iii. the intermediary observes due diligence while discharging its duties under the IT Act.
She then further explains the role of data privacy & confidentiality – A Registered Medical Practitioner would be required to fully abide by Indian Medical Council (Professional conduct, Etiquette and Ethics) Regulations, 2002 and with the relevant provisions of the IT Act, Data protection and privacy laws or any applicable rules notified from time to time for protecting patient privacy and confidentiality and regarding the handling and transfer of such personal information regarding the patient.
Lastly, she helps you understand about misconduct and privacy in telemedicine consultation.
She also provides some examples of actions that are not permissible which you as an MSME and Intermediary need to be aware of are:
– RMPs insisting on Telemedicine, when the patient is willing to travel to a facility and/or requests an in-person consultation
– RMPs misusing patient images and data, especially private and sensitive in nature (e.g.
– RMP uploads an explicit picture of patient on social media etc)
– RMPs who use telemedicine to prescribe medicines from the specific restricted list
– RMPs are not permitted to solicit patients for telemedicine through any advertisements or inducements
