Margin obligations to be given by way of Pledge/ Re-pledge in the Depository System (See 'Dashboard') SEBI asks Depositories to scan accounts linked with Al-Qaida (See 'Corp Brief') SEBI: Despite grey list, Mauritius investors will get FPI registration (See 'Corp Brief') EESL completes installation of 10 lakh smart meters in India (See 'Corp Brief') SEBI finds corporate misgovernance & listing norms violations by Indigo on complaint filed by co-promoter Bhushan Steel Insolvency: ex promoter files petition in Supreme Court against JSW USD 2.7 bn purchase deal SEBI - SEBI has rightly given exemption from complying with requirements of Regulations 3 and 4 of SAST Regulations to public sector companies who acquired shares of target company through disinvestment process: SAT (See 'Legal Desk') Companies Act - If interim order passed in oppression petition is modified due to changed circumstances in operation of company, such modification cannot be challenged unless proved prejudicial: NCLAT (See 'Legal Desk') CCI nod to NTPC to acquire 74.50% of share capital of THDC India (See 'Corp Brief') Review of Margin Framework for Cash and Derivatives segments (except for Commodity Derivatives segment) (See 'Dashboard') MCA launches SPICe+ e-form to ease doing business (See 'Corp Brief') Aditya Estates Insolvency: NCLT approves Adani Properties bid of Rs 400 cr PepsiCo spends USD 700 mn to purchse Chinese snack brand Be & Cheery IBC - Insolvency application against Flipkart quashed for bringing section 9 application before crystallisation of debt: NCLAT (See 'Legal Desk') Companies (Incorporation) Amendmen Rules, 2020 (See 'Dashboard') SEBI (Depositories and Participants) (Amendment) Regulations, 2020 (See 'Dashboard') Constitution of a committee for recommending Rules & Regulatory framework for smooth implementation of proposed Cross Border Insolvency provision in the IBC (See 'Dashboard') Competition - Increased rates of telecom services come under radar of CCI provisions even if such rates are in conformity with section 21A of TRAI: CCI (See 'Legal Desk') IBC - Even after passing of award by Arbitrator, if corporate debtor does not honour award then operational creditor is right in invoking jurisdiction of NCLT u/s 9 of IBC : NCLAT (See 'Legal Desk') Paris based ADP files for acquisition of GMR Airports & GISL via CCI Green Channel facility (See 'Corp Brief') Women entrepreneurs dominates Organic Food Festival held in Delhi (See 'Corp Brief')

Punjab and GeM signs pact for Setting Project Management Unit

Published: Sep 11, 2019

By TIOLCORPLAWS News Service

NEW DELHI, SEPT 11, 2019: Government e-Marketplace (GeM) under the Department of Commerce, Ministry of Commerce & Industry and Government of Punjab, today signed a MoU to set up a GeM Organizational Transformation Team (GOTT) Project Management Unit (PMU) in the state. The MoU was signed by Additional CEO,GeM, S. Suresh Kumar, and Director Industries, Government of Punjab, C. Sibinat Chandigarh on 10 th September 2019.

GeM, the national public procurement portal launched in August 2016 has transformed the public procurement landscape in the country with transparency, efficiency and inclusion.  It has facilitated procurement worth over Rs. 34,000 crore of goods & services by various Government Departments, Organisations and PSUs.

To further strengthen and enable Government departments towards a market based procurement, Department of Expenditure, Ministry of Finance, Government of India has advised Ministries and Departments of Central and State Governments to consider services of GOTT on an outcome based self-sustenance model. GOTT will assist the buyer agency to redesign the procurement processes and enhance competencies to derive maximum benefit from the online marketplace.

Government of Punjab is the first State which will establish GOTT PMU for effectively utilising this transformational initiative towards inclusive, efficient and transparent procurement. Among the CPSUs, SAIL has already signed MoU for setting up of PMU. Many other states and CPSUs are in the process of setting up GOTT PMUs.

It is projected that through the initiatives of GOTT PMU, Government of Punjab will be able to transact around Rs 1700 crore in terms of annual Gross Merchandize Value (GMV) on GeM platform in the first year and over Rs 3000 crore per annum, over a period of time.

TIOL CORP SEARCH

TIOL GROUP WEBSITES