Centre Proposes Decriminalization Of Cheque Dishonour Under Sec 138 NI Act, Other Economic Offences; Seeks Public Comments

first_imgTop StoriesCentre Proposes Decriminalization Of Cheque Dishonour Under Sec 138 NI Act, Other Economic Offences; Seeks Public Comments LIVELAW NEWS NETWORK10 Jun 2020 2:02 AMShare This – xThe Ministry of Finance has proposed decriminalizaiton of several economic offences, including the offence of dishonour of cheque under Section 138 of the Negotiable Instruments Act, and has invited comments from all stakeholders on this.The Ministry has said that this move is with the aim of “improving business sentiment and unclogging court processes” in the wake of economic crisis caused…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Ministry of Finance has proposed decriminalizaiton of several economic offences, including the offence of dishonour of cheque under Section 138 of the Negotiable Instruments Act, and has invited comments from all stakeholders on this.The Ministry has said that this move is with the aim of “improving business sentiment and unclogging court processes” in the wake of economic crisis caused due to lockdown.The following offences are proposed to be decriminalized.Section 12, Insurance Act, 1938.Section 29, SARFAESI Act, 2002.Section 16(7), 32(1),PFRDA Act, 2013.Section 58B, RBI Act, 1934.Section 26(1),26(4), Payment and Settlement Systems Act,2007 .Section 56(1), NABARD Act, 1981.Section 49, NHB Act, 1987.Section 42, State Financial Corporations Act.1951.Section 23, Credit Information Companies (Regulation) Act, 2005Section 23, Factoring Regulation Act, 2011Section 37, Actuaries Act, 2006.Section 36AD(2), 46, Banking Regulation Act, 1949Section 30, General Insurance Business (Nationalization) Act, 1972.Section 40, LIC Act, 1956.Section 21, Banning of Unregulated Deposit Schemes Act, 2019.Section 76, Chit funds Act, 1982.Section 47, DICGC Act, 1961.Section 138, Negotiable Instruments Act, 1881.Section 4 &5, Prize Chits and Money Circulation Schemes (Banning) Act, 1978.Last month, Union Finance Minster, Nirmala Sitharaman, had announced the decision to decriminalize minor economic offences as a part of “Atmanirbhar economic package’A statement from the Ministry in this regard said :”Criminalizing procedural lapses and minor non-compliances increases burden on businesses and it is essential that one should re-look at provisions which are merely procedural in nature and do not impact national security or public interest at large. The following principles should be kept in mind when deciding on reclassification of criminal offences to compoundable offences: (i) Decrease the burden on businesses and inspire confidence amongst investors;(ii) Focus on economic growth, public interest and national security should remain paramount; (iii) Mens rea (malafide/ criminal intent) plays an important role in imposition of criminal liability, therefore, it is critical to evaluate nature of non-compliance, i.e. fraud as compared tonegligence or inadvertent omission; and (iv) The habitual nature of non-compliance”.Stakeholders can propose and submit their comments/ suggestions regarding decriminalisation of a particular Act or particular Sections of an Act, along with the rationale for the same. The comments/ suggestions may kindly be submitted to the Department at the email address [email protected] within 15 days, i.e., by 23rd June, 2020.Click here to download statement from Ministry of FinanceRead the statement of Ministry of FinanceNext Storylast_img read more

“Subtext of racism” in universities

first_imgA new report has found “a definite underlying subtext of racism” in British universities, according to its author, Dr Kalwant Bhopal, reader in education at the University of Southampton.The paper, due to be published June, found that an overwhelming number of academics considered race to be the biggest barrier to career progression.She said, “Speaking 20 years since the murder of Stephen Lawrence I am surprised at how little progress has been made. There are signs of improvement, but we are progressing in small steps.”She continued: “The statistics show that most ethnic minority academics are concentrated in post-1992 universities. But the problem of racism is widespread; it is not only confined to Russell Group or elite universities”.Of the 65 individuals surveyed, only two had reported that they considered gender a greater barrier than race to career progression, both of whom were from a mixed race background. It is thought that only one university in Britain – Liverpool Hope – has a Chancellor from an ethnic minority group.However, Bhopal said that her research had found that ethnic minority academics not only felt excluded from career progression, but discriminated against through more subtle means. She said that many of those surveyed reported that the body language or lack of eye contact of their colleagues had left them feeling excluded.“One of the individuals I interviewed recounted that some people were surprised to find that she was black after speaking over the phone”, she said. “Such forms of racism are very hard to prove”.A spokesperson for Oxford university told Cherwell, “We do recognize that black and other minority groups are under-represented at most academic levels. However, this is also true across most leading universities, higher education in general and in many other sectors“The overall proportion of Oxford University academic staff declaring themselves as black and minority ethnic is 6.3%, which compares with national figures for academic staff of 6.7%. 7% of the UK labour force identify themselves as BME”.In 2005, an internal Oxford report found serious failings in attracting minority candidates to administrative positions at Oxford, and recommended immediate action.However, Dapo Akande, a lecturer at St Peter’s College of African ethnicity, told Cherwell “I have worked in several universities in the UK and the US and have found each of them to be pleasant environments to work in. I would not say that race or racial discrimination has been a barrier to career progression in my case.”In recent months the university has undertaken a comprehensive audit of ethnic minority staff. The university also said that it reviews its Race Equality Policy on an annual basis, and has sufficient measures in place to ensure the wellbeing of its staff.Ibaad Aleem, a British-Pakistani student studying at Hertford College commented: “I wouldn’t think anyone would find race a deterrent from academia in the modern world”. He added: “Personally I don’t really think about the race of the people around me”.last_img read more

Mafia Importer Of Cocaine From Peru, Colombia Busted

first_img Italian police busted a Sicilian Mafia drug ring operating in Peru and Colombia, making 13 arrests and seizing 20 kilogrammes (44 pounds) of high-quality cocaine overnight, a statement said. Among those arrested was the suspected kingpin, Paolo Messina, accused of operating in rare collaboration with the Naples-area crime syndicate the Camorra, the statement said. Camorra clan leader Tommaso Iacomino, a fugitive in South America, allegedly negotiated with the head of Peruvian and Colombian drug cartels over the prices to be paid by Messina and his cohorts for the cocaine. Italy is seeking the extradition of Iacomino, who has also allegedly sent large quantities of very pure cocaine to Sicily and northern Italy on his own account. Police wiretaps determined that the drugs transited Spain, The Netherlands and other European countries through front import-export companies before reaching Italy. Italy is among the top five European consumers of cocaine, according to the European Monitoring Centre for Drugs and Drug Addiction, which reported a surge of 15 percent among young adults aged 15 to 34 in its annual report last year. By Dialogo July 21, 2010last_img read more

Marathonbet nets Man City upgrade to become training kit sponsor

first_imgShare StumbleUpon SBC Awards: The key to an effective submission August 28, 2020 Top 50 clubs suffer €751m decline in brand value July 31, 2020 Marathonbet secures official partnership with Real Madrid November 28, 2019 Share Related Articles Submit Closing 2019, Marathonbet has announced its second major football partnership as the Panserve Ltd online sportsbook subsidiary expands its sponsorship agreement with Premier League champions Manchester City.Upgrading partnership terms, Marathonbet will serve as ‘training kit partner’ of ‘The Citizens’, with the European sportsbook brand appearing on the training shirts for both Manchester City senior men and women’s teams.Expanding its English football profile, Marathonbet has served as ‘Global Betting Partner’ of Manchester City since June 2018.Manchester City unveiled its new training kit at a press event attended by manager Pep Guardiola and City players Sergio Agüero, Bernardo Silva, Gemma Bonner and Megan Campbell.Adhering to safer gambling responsibilities, Marathonbet confirms that junior and academy jerseys will showcase the ‘City Football Foundation’ logo.Omar Berrada, Chief Operating Officer at Manchester City, said: “Launching our first training kit partner is a significant moment and we’re delighted to be doing this with our existing partner, Marathonbet.“The last 18 months of partnership have been positive for us both. We are pleased to recognise this success by expanding our relationship together.”Natalia Zavodnik, Marathonbet CEO, said: “It’s been a pleasure to be alongside Manchester City as its official betting partner, for one of the most exciting chapters in the club’s history.“We have been offering fans around the world to benefit from our unique giveaways, competitions and once-in-a-lifetime opportunities. We are delighted to be strengthening our partnership today by becoming the club’s first-ever training kit partner.”last_img read more