National MSME Expedition Team reaches Lucknow (See 'Corp Brief') Coal production up by 10.35% to 68 MT in Nov (See 'Corp Brief') FEMA - Ban on export of PPE products by RBI can be upheld as democratic interests that secure well-being of masses cannot be judicially aborted to preserve unfettered freedom to conduct business of few : SC-LB (See 'Legal Desk') Competition Act - Commission need not require to dwell on issues projected in Information by examining the matter on merits as matter is already under investigations by other agencies : CCI (See 'Legal Desk') A&C Act - Court in appeal cannot re-appreciate findings purely of fact in exercise of its jurisdiction u/s 37(2)(b): HC (See 'Legal Desk') India, ADB sign USD 125 mn loan to improve water supply in Uttarakhand (See 'Corp Brief') Reliance Industries forms partnership with RSC for chemical production LenDenClub raises USD 10 million Saudi Aramco & BlackRock inks USD 15.5 billion gas pipeline deal NITI Aayog, CSE release 'Waste-wise cities' - compendium of best practices (See 'Corp Brief') Budget 21 provided capital outlay of Rs 5.54 lakh crore (See 'Corp Brief') 1.2 crore benefited under PM Rojgar Protsahan Yojana (See 'Corp Brief') Coal Production to grow at 11% till 2023: Minister (See 'Corp Brief') IBC - Once there is a debt due and payable to Financial Creditor by Corporate Debtor, NCLT cannot reject application u/s 7, giving more time to CD to pay the debt : NCLAT (See 'Legal Desk') A&C Act - Award may be erroneous but that does not warrant interference u/s 34: HC (See 'Legal Desk') SEBI - Failure to exercise due diligence in executing off-market transactions settled in cash exceeding prescribed limit violates clauses 1, 2(b), 3, 4 and 11 of Part A of Schedule III of Code of Conduct of D&P Regs., 1996 r.w. Reg. 20AA r.w. Reg. 98 of D&P Regs., 2018 : SEBI (See 'Legal Desk') Competition Act - When Opposite Party is not dominant, it is unnecessary to examine if alleged conduct constitutes abuse of dominant position under provisions of the Act : CCI (See 'Legal Desk') 232 Geographical Areas authorized for development of CGD networks (See 'Corp Brief') 1.42 Cr new accounts opened under Sukanya Samriddhi Account (See 'Corp Brief') Price hike of commercial vehicles of Tata Motors from 1 Jan PTC India to receive Rs 125 crore from stressed loan accounts in thermal power segment LIC inaugurates advanced loan processing centre in Guwahati SARFAESI Act - If borrower does not object to action of creditor and accept favourable decisions from creditor then later borrower would be estopped from taking inconsistent position to gain advantage through judicial proceedings : SC-LB (See 'Legal Desk') IBC - CIRP can not be initiated as Operational Creditor fails to satisfy Tribunal that there is a 'Operational Debt' which is due and payable by Corporate Debtor - NCLT (See 'Legal Desk') Competition Act - Agreement is not anti-competitive and violative of Sections 3 and 4 of the Act if it does not create entry barrier for any other person or enterprise to enter the similar business - CCI (See 'Legal Desk') SEBI Act - Since there is no stay of SEBI order thus there is no embargo upon the Recovery Officer to proceed independently to recover the amount under Section 28A of the SEBI Act - SAT (See 'Legal Desk') Dispute Resolution & ADR – Is ODR a humpless 'Camel' (See 'THE INSIGHT' in Draft Electricity (Amendment) Bill, 2021: A Paradigm Shift to Privatisation (See 'CORP EINSICHT')

Incubation Centre for Innovation and Entrepreneurship at AIIA

Published: Oct 26, 2021

By TIOLCorplaws News Service

NEW DELHI, OCT 26, 2021: MINISTER of Ayush and Ports, Shipping and Waterways, Mr Sarbananda Sonowal will inaugurate the Incubation Centre for Innovation and Entrepreneurship (AIIA- iCAINE) at All India Institute of Ayurveda (AIIA), on Oct 29, 2021 at a program organized in Vigyan Bhavan, New Delhi. Dr. Munjpara Mahendrabhai Kalubhai, MoS for Ayush and Women & Child Development will also grace the program being organized as a part of the celebrations of 6th Ayurveda Day on the theme 'Ayurveda for Poshan'. A national seminar on "Start-ups in Ayush Sector- Scope and Opportunities (AYUR-UDYAMAH)" is also being organized on October 30, as a part of the program. The event will witness representatives from Ayurveda Sector across the country, and about 400 AYUSH institutes and MoU partners working in collaboration with AIIA. To promote entrepreneurship leveraging the academic knowledge, All India Institute of Ayurveda (AIIA), has set up an Incubation and Innovation Centre in its campus to nucleate a cluster of new age ventures. AIIA has been recognized as Host Institute (HI) under Ministry of Micro, Small & Medium Enterprises (MSME), Government of India which would provide opportunities to the innovators in developing and nurturing their ideas.

The incubation centre will be set up under the mandate of Ministry of Ayush given to AIIA to nucleate a cluster of new age ventures and to promote entrepreneurship leveraging the academic knowledge. "Startups are new types of wealth creators in our country", Prime Minister Narendra Modi said in his Independence Day speech on 15 August, 2021, underscoring the need of the government to relentlessly work towards making India's Startups and the Startup Ecosystem, the best in the world. Government of India is implementing Centrally Sponsored Scheme of National AYUSH Mission (NAM) through States/UTs for development and promotion of AYUSH system of medicine. The event will also include Launch of Qualification Packs for AYUSH Sub Sector Skill Council under Health Sector Skill Council (HSCC). AIIA is acting as a nodal organization under the directions of Ministry of AYUSH in the execution of skill development programs in AYUSH sector since 2018 and the Ministry has designated AIIA as the centre of excellence in skill development under HSSC