Union Finance Minister Nirmala Sitharaman began her speech outlining the Budget for 2021-22 by reiterating a simple fact: This Budget exercise was undertaken under circumstances never seen before. The unprecedented contraction of output and therefore of revenue has knocked India off its fiscal consolidation path. The Narendra Modi-led government, which has prided itself on its fiscal responsibility, will now be forced to amend the Fiscal Responsibility and Budget Management Act to take into account a fiscal deficit of 9.5 per cent of GDP during the pandemic year which will only slowly be reduced, with a target of 6.8 per cent in the forthcoming financial year and eventually 4.5 per cent by 2025-26.
Panel suggests provision for NCD issuance by LLPs
By IANS |
Published on
Tue, Jan 19 2021 0:33 IST |
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After 28 years, CBI court verdict awaited in Abhaya murder case. Image Source: IANS News
New Delhi, Jan 19 : The Company Law Committee on Decriminalisation of the Limited Liability Partnership Act, 2008, has recommended the inclusion of a provision in the Act for issuance of non-convertible debentures (NCD) by LLPs.
Among other recommendations, the committee has suggested decriminalisation of 12 offences under the LLP Act and the introduction of a new concept of Small LLP .
As per the committee s report, it has suggested that the 12 offences should be shifted to the In-house Adjudication Mechanism . One offence has been recommended for omission.
The Board of Sunedison Infrastructure at its meeting held on 15 December 2020 have accorded their approval for capital contribution to be made by the Company amounting to Rs 18.66 crore in Sherisha Solar LLP, under the provisions of the Limited Liability Partnership Act, 2008 (LLP Act) by way of execution of a limited liability partnership agreement.
The investment is part of the restructuring of the company s business to separate the under-construction solar power projects and the commissioned solar power projects.
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