IBBI conducts Conference on “Entrepreneurship Liberty: Freedom of Entry, Competition and Exit” and IP Conclave under ‘Azadi ka Amrit Mahotsav’ in New Delhi

Jun 11, 2022 | Business


To mark a befitting conclusion of the celebrations across 75 locations spread throughout the country, Insolvency & Bankruptcy Board of India (IBBI) organised a one day long iconic event at the Habitat Centre, here today, to trace the journey of reforms in the said three stages of a business.


Hon’ble Justice Ashok Bhushan Chairperson, National Company Law Appellate Tribunal graced the occasion as Chief Guest. Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs; and Shri Ashok Kumar Gupta, Chairperson, Competition Commission of India attended the event as Guests of Honour. The Conference was followed by a half day Insolvency Professionals Conclave.







Mr. Ravi Mital, Chairperson, IBBI delivered the welcome address. Hon’ble Justice Ashok Bhushan, Chairperson, National Company Law Appellate Tribunal in his address as Chief Guest deliberated on the journey of economic reforms by noting evolution from risk averse nature of society to reduced stigma for failure. He stated that earlier the individuals looked primarily for employment stability, but the outlook towards entrepreneurship has improved significantly with reforms.


Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs lauded the achievements of the Code and initiatives undertaken by IBBI under the Azadi Ka Amrit Mahotsav. He stated that future reforms including cross border insolvency framework are on anvil and will be introduced soon. He discussed the role of IBC in the context of corporate governance and economic reforms, that has promoted entrepreneurship in the Country. Mr. Ashok Kumar Gupta, Chairperson, CCI while addressing participants dwelt upon the interplay between insolvency law and competition law. He highlighted the economic reforms relating to competition law and its positive impact on entrepreneurship.


Further Shri Dharmender Singh, Hon’ble Member (Judicial), NCLT and Shri Avinash K. Srivastava Hon’ble Member (Technical), NCLT; addressed the participants on the theme ”Insolvency professional from the perspectives of Adjudicating Authority”, in the IP Conclave. Shri Praveen Kumar, DG & CEO, Indian Institute of Corporate Affairs in his address during the IP Conclave, discussed the role of Graduate Insolvency Programme in development of the institution of Insolvency Professionals.


Shri Anant Barua, Whole Time Member, Securities and Exchange Board of India; Shri Amit Pradhan, ED, IBBI, and Shri Sandip Garg, ED, IBBI; Shri Amarjit Singh Chandhiok Senior Advocate; President, INSOL India; Shri Shardul Shroff Executive Chairman, Shardul Amarchand Mangaldas & Co.; Shri Satish Kumar Gupta Insolvency Professional; Shri Debajyoti Ray Chaudhuri MD & CEO, National E-Governance Services Ltd.; Shri Kapil Mantri Head M&A, Jindal Steel and Power Ltd.; and CS Alka Kapoor, COO ICSI IIP also addressed the participants at the event. Shri Santosh Shukla, ED, IBBI and Shri Rajesh Kumar Gupta, CGM, IBBI delivered vote of thanks after the inaugural and first technical session.


A publication titled, “Anusandhaan: Exploring New Perspectives on Insolvency” containing 26 research papers that emerged out of an international research conference organized by IBBI and IIM Ahmedabad recently was released during the inaugural session of the Conference. Further, IBBI also felicitated IPs who coordinated the conduct of 75 awareness programmes across the country, as part of Azadi ka Amrit Mahotsav.


Large number of stakeholders of the IBC ecosystem, from across the country, including insolvency professionals, registered valuers, economists, financial creditors, service providers, researchers, students, professionals, regulators, academia and government officers joined the Conference both in physical well as online mode.


Azadi Ka Amrit Mahotsav (AKAM) is an initiative of the Government of India to celebrate and commemorate 75 years of progressive India and the glorious history of its people, culture and achievements. Since the beginning of AKAM celebrations which was started on 12th March, 2021 by the Hon’ble Prime Minister Shri Narendra Modi, IBBI has organized a large number of activities and events as part of the Mahotsav.


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BRO conducts final blast concluding all excavation on Sela Tunnel Project

Jan 22, 2022 | Business


 The final blast for the 980-metre long Sela Tunnel (Tunnel 1) was conducted by Director General Border Roads (DGBR) Lt Gen Rajeev Chaudhry through an e-ceremony from New Delhi on January 22, 2022. This marks the culmination of the excavation works on the complete Sela Tunnel Project. This feat has been achieved by Border Roads Organisation (BRO) amidst inclement weather and heavy snowfall.


The Sela Tunnel Project is located in the West Kameng District of Arunachal Pradesh. Once completed, it will be a lifeline as it will provide all weather connectivity to Tawang. The project comprises of Tunnel 1, which is a 980 m long single tube tunnel and Tunnel 2, which is a 1555 m long twin tube tunnel. Tunnel 2 has one bi-lane tube for traffic and one escape tube for emergencies. It will also be one of the longest tunnels to have been constructed above altitude of 13,000 feet. The project also includes construction of an approach road of seven kilometres to Tunnel 1, which takes off from BCT Road and a link road of 1.3 kilometres, which connects Tunnel 1 to Tunnel 2.


The foundation stone of the Sela Tunnel Project was laid by the Prime Minister Shri Narendra Modi in 2019. On January 15, 2021, after the first blast was conducted by the DGBR, excavation work on Tunnel 1 commenced. Thereafter, on October 14 2021, Raksha Mantri Shri Rajnath Singh carried out the breakthrough blast of the 1,555 meter Tunnel 2, through an e-ceremony from India Gate, marking the end of excavation on Tunnel 2.





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DRDO conducts flight demonstration of Controlled Aerial Delivery System

Dec 20, 2021 | Business


Aerial Delivery Research and Development Establishment (ADRDE), Agra conducted a flight demonstration of Controlled Aerial Delivery System of 500 kg capacity (CADS-500) on December 18, 2021. ADRDE, Agra is an R&D laboratory of Defence Research and Development Organisation (DRDO) and the flight demonstration is part of a series of activities organised towards celebrating ‘Azadi Ka Amrit Mahotsav’, commemorating 75 years of Independence. 


The CADS-500 is used for precise delivery of payload upto 500 kgs at predetermined location by making use of manoeuvrable capabilities of Ram Air Parachute (RAP). It uses Global Positioning System for the coordinates, altitude and heading sensors for the heading information during its flight. The CADS, with its onboard electronics unit, autonomously steers its flight path using waypoint navigation towards target location by operating controls. 


System performance was demonstrated at Drop Zone, Malpura from an altitude of 5000m. The system was para-dropped from AN32 aircraft and then steered to the predesignated landing point in autonomous mode. Eleven paratroopers of Indian Army and Indian Air Force chased the CADS-500 in air and landed simultaneously.




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Hong Kong – FEHD conducts joint operations with Police to take stringent enforcement actions relating to obstructions in public places (with photos)

Oct 6, 2021 | International

FEHD conducts joint operations with Police to take stringent enforcement actions relating to obstructions in public places (with photos)

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     A spokesman for the Food and Environmental Hygiene Department (FEHD) said today (October 5) that the FEHD has conducted joint operations with the Police in the past week or so in Kowloon City, Kwun Tong and Tsuen Wan against shop owners and other stakeholders placing goods or articles in public places or on carriageways, causing obstruction to pedestrian and vehicular flow. Operation is ongoing.

     During the six operations, the FEHD and the Police inspected the vicinity of Yeung Uk Road Market, Tsuen Wan, To Kwa Wan Market, Kowloon City and Shui Wo Street, Kwun Tong. The FEHD issued fixed penalty notices to 26 persons causing obstruction in public places in contravention of the Fixed Penalty (Public Cleanliness and Obstruction) Ordinance (Cap. 570), and took out summons action against six persons under section 4A of the Summary Offences Ordinance (Cap. 228) and four persons for obstructing scavenging operations. In addition, the FEHD issued fixed penalty notices to 14 persons for public cleanliness offences, and took out two prosecutions for hawking in public place without licence. The two departments also removed over 5.7 tonnes of goods and commodities on the carriageway and cleared about 18 tonnes of waste. During the joint operations, the Police also took enforcement actions, including issuing fixed penalty notice against obstruction in public places.

     The spokesman said, “Some shop operators, for the sake of convenience, illegally placed goods that were delivered to shops directly on the roadsides and even on the carriageways, thus extending their business areas illegally. This practice has not only caused illegal occupation of public places and obstruction of passageways, but also jeopardised the safety of road users. This has not only attracted public complaints, but also given rise to concerns from the local community and society at large.
     　
     “To tackle the illegal shop extension and obstruction problems in a more effective manner, apart from stepping up prosecution against offenders, the FEHD together with the Police launched a trial scheme in the above-mentioned three districts in late September to early October. The Police exercises its statutory powers in removing obstructions, and the FEHD arranges to remove the obstructions (including goods) placed on carriageways or in public places. The two departments work together to tackle the illegal shop extension problem,” the spokesman added.

     The FEHD reminds shop operators not to extend business areas illegally by putting goods and articles in public places or they may be liable to prosecution and would be required to bear the loss caused by the removal operations.

NTPC conducts Vaccination Drive at SCOPE Complex

Jun 5, 2021 | Business

To combat second wave of COVID Pandemic and ensure safety and good health of its employees, their family members and associates, NTPC  a Maharatna CPSU under Ministry of Power has been organising Vaccination drives at its various locations and offices.

A total number of 2013 persons have been vaccinated at NTPC SCOPE Office in New Delhi, over five days in a phased manner. The vaccination process was conducted under strict COVID protocol.

NTPC has already vaccinated over 70,000 of its employees, workers and their family members across its operations. NTPC aims to cover all eligible employees and their dependents under the protection of the vaccine. The vaccination drive has been running across 72 locations of NTPC which includes the JVs and subsidiaries.

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SS/IG

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