Monsoon Session LIVE: Lok Sabha passes Taxation, Companies Amendment Bills

22:17 September 19

Lok Sabha passes the Companies (Amendment) Bill, 2020; the House adjourned till 3 pm tomorrow.

21:54 September 19

Start insolvency process against debtor, guarantor together: FM

Union Finance Minister Nirmala Sitharaman on Saturday said that insolvency proceedings against the corporate debtor and personal guarantor can be initiated together under the Insolvency and Bankruptcy Code and should be pursued simultaneously for a comprehensive resolution process.
Speaking during the debate on the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020 in the Rajya Sabha, she noted that given those individual insolvency proceedings are likely to impact a large section of the population, it was decided to commence provisions relating to personal guarantors and corporate debtors and then move ahead with other categories based on the learnings and experiences.

21:09 September 19

Taxation bill passes in LS

Lok Sabha passed The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020.

20:11 September 19

What is the use of creating PM-cares fund when country has already PMNRF: Chowdhury

Congress MP Adhir Ranjan Chowdhury in Lok Sabha asked Finance Minister Nirmala Sitharaman about the necessity to create a parallel fund when the country has already Prime Minister's National Relief Fund (PMNRF)? "I also want to ask our FM if it's true that you took a loan from Chinese banks even after our Indian Army personnel were fighting in the Galwan valley. How much loan has been taken from China since April", said Chowdhury.

19:20 September 19

Nobody is forced to donate to fund for PM-Cares: Anurag Thakur

Slamming opposition parties for raising questions over PM-Cares Fund, minister of state for finance Anurag Thakur said that the fund is absolutely transparent and it has been set up under the law, registered as Trust under 1908 Act.

"An independent auditor appointed, it's the same auditor who audits PM National Relief Fund. Nobody is forced to donate to this fund. The Trustees of the PM-CARES Fund are all ex officio members, such as Prime Minister, Minister of Defence, Minister of Home Affairs and Minister of Finance", said Thakur.

17:59 September 19

New Taxastion bill weakens rights, resources available to states: Mahua Moitra

The Taxation and other Laws (Relaxation & Amendment of Certain Provisions) Bill, 2020, is deeply problematic because it further weakens the rights and resources available to states by taking away statutory promises made under the new GST regime. Also, it corners the public funds for PM-CARES to the direct detriment of state relief funds", said TMC MP Mahua Moitra in Lok Sabha.

17:41 September 19

PM CARES fund lacks transparency: NK Premachandran

SP MP NK Premachandran spoke about the Centre's PM CARES fund during the debate on the Taxation Amendment Bill in the Lok Sabha. 

Asking what the logic was 'behind having a separate fund' despite the existence of the PMNRF, he said, "PM CARES fund lacks transparency as not audited by Comptroller and Auditor General of India (CAG). Even RTI is not applicable."

16:40 September 19

We stand with Army, but protest against innocent killings during encounters: Farooq Abdullah

"No progress is taking place in Jammu & Kashmir. People there do not have access to 4G facility, how are they going to grow in the present time when the rest of the country has access to every facility on the internet. Like we are talking to China to resolve issues, we need to hold talks with the other neighbour country as well. People are dying every day, border skirmishes are on a rise. We need to find some solution", said Farooq Abdullah, National Conference MP in Lok Sabha.

15:48 September 19

Gangwar introduced New Labour Code in Lok Sabha

Union Labour Minister Santosh Gangwar has introduced New Labour Code in Lok Sabha.

15:22 September 19

Bills to be tabled today in LS

• The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill,2020
• The Companies (Amendment) Bill, 2020, The National Forensic Sciences University Bill, 2020
• The Rashtriya Raksha University Bill, 2020
• The Bilateral Netting of Qualified Financial Contracts Bill, 2020
• The Factoring Regulation (Amendment) Bill, 2020.

15:21 September 19

Lok Sabha Speaker Om Birla calls for an urgent BAC meeting at 5pm today.

he Business Advisory Committee (BAC) of Parliament is to hold its meeting on Saturday evening to discuss the legislative business and other issues related to the ongoing monsoon session.
The BAC is the meet at 5 p.m. in the Parliament premises. Lok Sabha Speaker Om Birla will preside over the meeting. 

All the 15 BAC members are expected to attend, including Trinamool MP Sudip Bandyopadhyay, Bharatiya Janata Party (BJP) leader P.P. Chaudhary, Congress leader Adhir Ranjan Chowdhury, BJP MP from Bihar's Paschim Champaran Sanjay Jaiswal, BJP MP from Gujarat's Surat Darshana Vikram Jardosh, Biju Janata Dal MP Pinaki Misra, BJP member Jagdambika Pal, and Dravida Munnetra Kazhagam MP S.S. Palanimanickam.

15:05 September 19

Lok Sabha session starts for today

Lok Sabha session starts for today

14:55 September 19

Lok Sabha passes the Companies (Amendment) Bill, 2020; the House adjourned till 3 pm tomorrow

New Delhi: The Centre is set to withdraw three Labour Ministry Bills in the Lok Sabha for their reintroduction during the ongoing Monsoon Session.

Occupational Safety, Health and Working Conditions Code, 2019; Industrial Relations Code, 2019; and Code on Social Security, 2019 will be withdrawn from the lower House when it will assemble for the day at 3 p.m. on Saturday.

Minister of State with independent charge in the Ministry of Labour and Employment Santosh Kumar Gangwar will move these bills for their withdrawal to reintroduce fresh Bills for consideration.

The government has uploaded a statement on an e-transmission portal containing reasons for which the Bill is being withdrawn.

The Occupational Safety, Health and Working Conditions Code, 2019 aims to consolidate and amend the laws regulating the occupational safety, health and working conditions of the persons employed in an establishment. The Bill was introduced in Lok Sabha on July 23 last year.

The Industrial Relations Code, 2019 consolidates and amends the laws relating to Trade Unions, conditions of employment in industrial establishment or undertaking, investigation and settlement of industrial disputes and for matters connected therewith or incidental thereto. It was introduced in Lok Sabha on November 28 last year.

The Code on Social Security, 2019 bill seeks amendment and consolidated the laws relating to the social security of the employees. The Bill was introduced in the Lok Sabha on December 11 last year.

Besides, Finance Minister Nirmala Sitharaman will move The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020; Companies (Amendment) Bill, 2020; Bilateral Netting of Qualified Financial Contracts Bill, 2020; and Factoring Regulation (Amendment) Bill, 2020 for consideration and passage.

The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 was introduced in the Lok Sabha on Friday amid the ruckus. The Bill will replace the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020.

The Companies (Amendment) Bill, 2020 seeks to amend the Companies Act, 2013. The Bill was moved in the Lok Sabha on March 17, 2020 to introduce certain modifications to the Companies Act, 2013 with a view to promoting ease-of-doing-business and ease of living to corporates in India.

Bilateral Netting of Qualified Financial Contracts Bill, 2020 for passage to ensure financial stability and promote competitiveness in Indian financial markets by providing enforceability of bilateral netting of qualified financial contracts.

However, the Factoring Regulation (Amendment) Bill, 2020 seeks to amend the Factoring Regulation Act, 2011. Union Home Minister Amit Shah will also move the National Forensic Sciences University Bill, 2020 for passage.

The Bill provides establishment and declares an institution to be known as the National Forensic Sciences University as an institution of national importance to facilitate and promote studies and research and to achieve excellence in the field of forensic science in conjunction with applied behavioural science studies, law, criminology and other allied areas and technology and other related fields.

The Minister will also move The Rashtriya Raksha University Bill, 2020 for the consideration and passage. The Bill seeks to establish and declare an institution to be known as the Rashtriya Raksha University as an institution of national importance and to provide for its incorporation and matters connected.