First Indigenous Hydrogen Train all set to start (See 'Corp Brief') NI Act - If directors are vicariously liable u/s 141 of NI Act and are themselves undergoing insolvency or bankruptcy, they are not entitled to benefit of moratorium in respect of their personal criminal liability u/s 138 of NI Act: SC (See 'Legal Desk') Ministry of Coal to Organize Roadshow on Surface Coal & Lignite Gasification Projects (See 'Corp Brief') IBC - Appeal without certified copy of impugned order, and without application for exemption from filing certified copy, is wholly incompetent appeal that does not satisfy essential requirements under NCLAT Rules: SC (See 'Legal Desk') DFS organises Credit Outreach Programme at Udaipur, Tripura (See 'Corp Brief') Competition Law - Competition Act did not confer any power on CCI to keep approval u/s 31(1) in respect of Amazon-Future coupon investment, in abeyance or compel fresh Form II filing after approval: SC (See 'Legal Desk') Experts deliberate on Standardised Coding System for Ayurveda under WHO-ICHI Initiative (See 'Corp Brief') IPR - Confusion at initial stage is sufficient to attract infringement: HC (See 'Legal Desk') DFS reviews Performance of North-East RRBs (See 'Corp Brief') IISc-led Semiconductor Training Initiative records Massive Growth in Tribal Youth Participation (See 'Corp Brief') CCI approves JV between Mercuria Energy & Tata International (See 'Corp Brief') CCI approves merger of Indovida India with and into EPL Limited (See 'Corp Brief') Union Minister launches PM-AJAY Portal & AJAY Mobile App to digitize SC welfare schemes (See 'Corp Brief') A&C - SpiceJet is directed to deposit outstanding amount immediately while also applying costs: HC (See 'Legal Desk') Gadkari reviews Monsoon Preparedness for Safer Highways (See 'Corp Brief') Skymap Pharmaceuticals approved as Strategic Buyer for disinvestment of IMPCL (See 'Corp Brief') PM-WANI Ecosystem undergoes Comprehensive Transformation to enable Inclusive Digital Connectivity (See 'Corp Brief') Sales of Khadi and Village Industry Products surpasses Rs 1.87 Lakh Crore-mark (See 'Corp Brief') SARFAESI - Suit's substantive reliefs concern specific performance and enforcement of agreements, plaint cannot be rejected at threshold under Order VII Rule 11 CPC merely because SARFAESI measures are also in background: HC (See 'Legal Desk') Reddy directs Agencies to Fast-Track Pending Mining & Exploration Projects (See 'Corp Brief') Meghalaya Minister discusses STI Hubs for Tribal Communities in Northeast with MoS (See 'Corp Brief') Govt strengthening Preventive Healthcare through Yoga and Naturopathy: Jadhav (See 'Corp Brief') Gadkari reviews NH Projects in Rajasthan and HP (See 'Corp Brief') Secretary reviews Progress of Mineral Block Auctions and Operationalisation (See 'Corp Brief') FERA - Receipt by person in India of Indian currency through cheque drawn on NRE account, even if that account had been funded by foreign currency deposits, does not by itself constitute contravention of Sec 8(1): HC (See 'Legal Desk') Parcel and Logistics Services register 70% growth; Revenue Potential pegged at Rs.10,000 Crore (See 'Corp Brief') Department of Consumer Affairs holds stakeholder meeting on Different Pack Sizes for Edible Oils (See 'Corp Brief') 'Spice and Heal' Initiative can Position India as Global Wellness Leader: Jadhav (See 'Corp Brief') Competition Act - Allegations relating to use of unlicensed/private vehicles & regulatory violations is not competition law issue u/s 3 and 4 of Competition Act: CCI (See 'Legal Desk') Moratorium under the IBC (See CORP EINSICHT) NMDC launches Summer Camp for 1700 Children in Dakshin Bastar (See 'Corp Brief') Benami Act - Confiscation under Benami Act is civil consequence and distinct from prosecution: SC (See 'Legal Desk') 'Janjati Samagam' will, in coming years, gain global recognition as Kumbh of tribal communities (See 'Corp Brief') At Siliguri's 19th employment fair, 82 young people receive appointment letters (See 'Corp Brief') IBC - During subsistence of moratorium u/s 14 IBC, lessor cannot terminate subsisting lease and recover possession of leased property occupied by corporate debtor by invoking contractual breach clauses: HC (See 'Legal Desk')

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Pre-Budget consultation concludes

Published: Jul 08, 2024

By TIOLCorplaws News Service

NEW DELHI, JULY 08, 2024: THE Pre-Budget consultations for Union Budget 2024-25 that started from 19th June 2024 onward in the Ministry of Finance and chaired by Union Minister for Finance & Corporate Affairs Nirmala Sitharaman, concluded on 5th July 2024.

In the course of the in-person consultations, more than 120 invitees across 10 stakeholder groups, including experts and representatives from farmer associations & agriculture economists; trade unions; education & health sector; employment & skilling; MSME; trade & services; industry; economists; financial sector & capital markets; as well as, infrastructure, energy and urban sector, participated in the meetings.

Union Ministers of State for Finance Pankaj Chaudhary; Finance Secretary and Secretary Expenditure, Dr. T.V. Somanathan; Secretary, D/o Economic Affairs, Ajay Seth; Secretary, DIPAM, Tuhin K. Pandey; Secretary, D/o Financial Services, Vivek Joshi; Secretary, D/o Revenue, Sanjay Malhotra; Secretary, M/o Corporate Affairs, Manoj Govil, Secretaries of Ministries concerned, Chief Economic Adviser, Dr. V. Anantha Nageswaran, and senior officers from the Ministry of Finance and Ministries concerned were also present during relevant meetings.

In the course of the consultations, Union Finance Minister Sitharaman expressed gratitude to the participants for sharing valuable suggestions and assured experts and representatives that their suggestions would be carefully examined and considered while preparing the Union Budget 2024-25.

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