MCA prescribes fee payable for registration of offices (See 'Dashboad') Trademark Act - when it is prima facie clear that use of trademark 'PEPSI' by defendant was mala fide and with dishonest intention to trade upon reputation & goodwill of plaintiff, same calls for permanent injunction orders in favour of plaintiff: HC (See 'Legal Desk') MCA notifies October 05, 2018 as date of enactment of Rules for appointment & qualification of directors (See 'Dashboard') Govt amends Companies (Corporate Social Responsibility Policy) Rules, 2014 (See 'Dashboard') Govt amends Limited Liability Partnership Rules, 2009 (See 'Dashboard') Companies Act - When Respondent's challenge to constitutional validity of provisions of Companies Act, 2013 was only limited to grant of interim relief by way of release from Judicial custody, decision of High Court to held provisions apart from sections 212(6)(ii) & 212(7) as ultra vires is unsustainable: SC (See 'Legal Desk') Trademarks Act - Disclaimer regarding usage of GOLD FLAKE contained in Trademark registration certificate of Plaintiff and also price variation between cigarette manufactured by both parties cannot be excuse for defendant to justify alleged use of deceptively similar Trademark: HC (See 'Legal Desk') SEBI Act - Veto rights accrue to Noticee, to protect value of their shareholding in USL, cannot be held similar to controlling interest as defined under regulation 2(1)(e) of SAST Regulations: SEBI (See 'Legal Desk') SAIL's EBIDTA rises to Rs 5200 Crore (See 'Corf Brief') NCLT allows Shivinder to withdraw plea against brother Tariff negotiations with US underway: Steel Minister WPI inflation drops to 4-month low of 4.53 % in August Govt amends Schedule V of Companies Act, 2013 (See 'Dashboard') Govt notifies sections 66 to 70 of Companies (Amendment) Act, 2017 w.e.f. September 12, 2018 (See 'Dashboard') Govt amends Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 (See 'Dashboard') Copyright Act - Considering philanthropic & spiritual nature of literary work involved and since parties has requested to dispose of suit, where defendant is ready to suffer injunction, matter is liable to be decreed in favour of plaintiff by way of damages only: HC (See 'Legal Desk') Companies Act - Section 164 of Companies Act 2013 for disqualification of directors for non filing of return for continuous period of three FYs was notified w.e.f April 1, 2014 and thus, ROC is not justified in taking first FY from April 1, 2013 to calculate period of default: HC (See 'Legal Desk') Fugitive Economic Offenders Act - a step in the right direction (See 'CORP EINSICHT') MCA notifies Rules to empower shareholders in deciding salary of managerial staff (See 'Corpbrief') Govt appoints Ms Tajinder Mukherjee, GM, NIACL as CMD of NICL (See 'Dashboard') Govt appoints Mr Girish Radhakrishnan, GM, NIACL, as CMD of UIICL (See 'Dashboard') Govt scraps need for approval regarding remuneration to managerial personnel beyond individual limits (See 'Corpbrief') Trademarks Act - Word 'PARAS' has acquired distinctiveness and is well known in area of milk & milk products, therefore, unauthorized use of same in respect of identical items amounts to violation under trademarks laws and constitute passing off: HC (See 'Legal Desk') SEBI Act - On failure to exercise proper due diligence in ensuring adequacy of disclosures for advancement of ICDs by group company in offer document of IPO, penalty is attracted: SEBI (See 'Legal Desk') GST - More needs to be done to incentivise 'sluggish' compliance! (See 'Cob(Web)' in 'TIOL') SIDBI-SKDRDP sign MoU to enhance credit delivery to micro enterprises (See 'Corpbrief') IEPF inks MoU with CSC to promote investor education (See 'Corpbrief') India hikes ethanol price by up to 25% Modi to hold a meeting this weekend over rupee & oil prices Govt amends National Institute of Design Act to include 4 new Institutions (See 'Corpbrief') Cabinet approves Transfer of land of Rashtriya Chemicals to MMRDA Cabinet okays Scheme to aid farmers (See 'Corpbrief') Cabinet approves transfer of RCF land to Mumbai Municipal Corporation (See 'Corpbrief') Competition Act - For provision of services for development & sale of residential apartments in Gurgaon, relevant geographic market cannot be extended to entire region of NCR, having regard to ecosystem of residential area in terms of infrastructural amenities: CCI (See 'Legal Desk') Trade Marks Act - In absence of any documentary evidence which establishes prior use by respondent, appellant cannot be altogether injuncted from using trademark at interim stage, if it has been functioning with such trademark from long time: HC (See 'Legal Desk') Fair Market Conduct - SEBI to crystallise view soon, says Tyagi (See 'Corpbrief') Govt working with RBI to check plummeting rupee 'Google Pay' - More time sought to comply with RBI norms Clarification in filing BEN-1 under the Companies Act, 2013-reg (See 'Dashboard') Govt amends Companies (Prospectus & Allotment of Securities) Rules, 2014 (See 'Dashboard') Copyright ACt - Use of plaintiff's mark 'NJAU' by defendant to sell its counterfeit products with prima facie view to trade upon from reputation of plaintiff's mark amounts to infringement of copyright and attracts monetary penalty - HC (See 'Legal Desk')

NPS subscribers touches 13.16 lakh

Published: Mar 09, 2018

By TIOLCORPLAWS News Service

MUMBAI, MAR 9, 2018: IN a corporate meet held yesterday, the Pension Fund Regulatory Development Authority (PFRDA) shared information that as on March 6, 2018, more than 13.16 lakh subscribers from the private sector (all citizen and corporate) came under the umbrella of the National Pension System (NPS). PFRDA's endeavour is to significantly scale-up these segments during the ongoing months. The conference was conducted at Mumbai in association with FICCI, Maharashtra State Council.

Addressing the gathering, Mr. Jaspal Bindra, Chairman, FICCI Maharashtra State Council and Executive Chairman, Centrum Group lauded the efforts of PFRDA for organizing such meetings across the country and creating awareness about NPS which can be effective platform for corporates to provide pension to their employees for their old age income security. The Executive Director, PFRDA, Mr A. G. Das, addressed the participants and briefed the contours of NPS for old age income security.

Mr. Mono MG Phukon, General Manager, gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employees as well as to the employer. He requested the participants to utilize this meet for better understanding of NPS and implementing the same in their respective organizations. Ms. Kamalam Venkatesan, AVP, CRA-NSDL gave a presentation on process flow of registration of corporates and their employees under NPS. More than 220 participants from around 140 corporates attended the workshop. Mumbai based POPs, Pension Funds and Central Recordkeeping Agency were also present for the conference. PFRDA officials clarified the queries regarding joining of NPS, tax benefits, POPs details, timelines, transfer of superannuation fund to NPS, annuity to the participants. 

Mr. Das informed that in the changing demographic status of the country, pension is one of the most important factor to be considered by everyone. NPS provides a platform to every segment of the society for savings for retirement. He requested the participants to think NPS not only for tax benefits, but also as a product which can yield market related returns and secure their regular income in the old age. Dr. Susan Thomas, Professor, Indira Gandhi Institute of Developmental Research emphasized on the need of old age income security and the risks of increasing longevity of individuals due to medical advancements and should be prepared for living a life of dignity after retirement.

There are more than 6.83 lakh employees of more than 4,365 registered corporates who have joined NPS under NPS Corporate Model and more than 6.3 lakh subscribers have joined NPS under NPS-All Citizen Model. The overall number of NPS and APY subscribers have crossed 2.05 crore with overall Asset under Management (AUM) of more than 2.25 lakh crore.

 

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