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The Companies Amendment Act, 2017 ("Amendment Act") was executed with the sole determination to resolve the challenges arising upon the implementation of the Companies Act 2013.. The primary basis for the Amendment Act 2013, is the report of the Company Law Committee(CLC). The Ministry of Corporate Affairs ("MCA") had established the Company Law Committee with the approval to: (a) Pass instructions on the challenges arising from the enactment of the Companies Act 2013. (b) Review the approvals received from the Bankruptcy Law Reforms Committee, the Law Commission of India, and other agencies, the High-Level Committee on Corporate Social Responsibility. In the beginning, The Ministry of Corporate Affairs (MCA) had disclosed 43 sections of the Amendment Act compatible to its notification dated 9 February, 2018. It also briefed 28 additional sections on 7 May, 2018. As a practice, the modifications released (dated 7 May, 2018) have provided improved transparency on the clarification of the various provisions of the Companies Act. Additionally, the MCA insists to ease the procedural requirements under the Companies Act, including the fines imposed in the event of failure to comply. Additional provisions notified. Modifications to the following main provisions were announced on the 7 May 2018:

Companies Act, 2017. New Depreciation Amendments!

The Government of Chandigarh, Labour Department has in a notification dated 14th February, 2019 rolled out the Draft Chandigarh Maternity (Amendment) Rules, 2019("Draft Rules") which proposes to bring in provisions with respect to Crèche facilities by amending the Chandigarh Maternity Benefit Rules, 1975 ("Principal Rules"). A new rule, 7A is being proposed to be inserted in the Draft Rules, which will deal with Crèche facility. This amendment is being proposed in line with the amendments made to the Maternity Benefit Act, 1961 ("Act") in the year 2017.

In a Notification dated 29th January, 2019, the Food Safety and Standards Authority of India has issued the Food Safety and Standards (Food Products Standards and Food Additives) Amendment Regulations, 2019 ("Amendment Regulations") to further amend the Food Safety and Standards (Food Products Standards and Food Additives) Regulations, 2011 ("Principal Regulations").The Amendment Regulations are effective immediately.

The Ministry of Corporate Affairs ("Ministry") has, in a Notification dated 22nd January 2019 amended the Companies (Prospectus and Allotment of Securities) Rules, 2014 ("Principal Rules"), by notifying the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2019 ("Amendment Rules").

The Ministry of Health and Family Welfare has recently on 25th January, 2019 rolled the Drugs and Cosmetics (Third Amendment) Rules, 2019 ("Amendment Rules") adding a new item in Schedule K of the Drugs and Cosmetics Rules, 1945. Schedule K consists of those drugs that are exempted from Chapter IV of the Drugs and Cosmetics Act, 1945 which deals with manufacture, sale and distribution of drugs and cosmetics.

The Food Safety and Standards Authority of India ("FSSAI") has proposed the Food Safety and Standards (Import) Amendment Regulations, 2019 ("Draft Amendment") by a notification dated 29th Janunary,2019.

The Ministry of Corporate Affairs ("MCA") has through a notification dated 22nd January, 2019 issued the Companies (Acceptance of Deposits) Amendment Rules, 2019 ("Amendment Rules").

The Dodd-Frank Wall Street Reform and Consumer Protection Act brought major changes to the financial sector. So how has the Durbin Amendment changed how banks and credit card companies generate revenue?

Our honourable Finance Minister presented the budget for 2018 on 1st Feb 2018. We have listed some noteworthy amendments which has an effect on corporate restructuring viz. mergers, amalgamations, demergers and acquisitions.

There has been this confusion over the Amendment of Entry 84 of the Union List following which the Centre can levy excise only on petrol, natural gas, crude petroleum, high-speed diesel. The Finance Ministry clarified with a notification saying there is 'no legal infirmity' in the notifications issued by the Govt with regard to the GST Constitution Amendment Act.

The Union Cabinet today approved amendments in the Customs and Excise Act relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST.

Directorate General of Foreign Trade (DGFT) has issued Public Notice 70/ 2015-20 dated 30th January,2019 to amend Para 4.38 of the Handbook of Procedure 2015-20 relating to Facility of Clubbing of Authorisations.

This is a quick update to let you know that the Haryana Labour Department has notified the amendments to the implementation of the Payment of Wages Act, 1936 ("Act") in the State of Haryana, as proposed by the Payment of Wages (Haryana Amendment) Bill, 2016.

The GST is still several crucial steps away from reality but the Modi government is moving methodically for its rollout from April 1 next year. On September 1, 2016 Odisha became the 16th state to ratify the Constitutional Amendment Bill that will pave the way for the passage of the Goods and Service Tax (GST) Bill, thus, fulfilling the constitutional requirement of at least half of India's 29 states approving the bill. The President has, since, signed the 122nd Constitutional Amendment Bill into law soon. This has allowed the government to proceed with the formation of the GST Council, which will decide on contentious issues like the GST rates, the mechanism to settle disputes and also come up with a draft GST legislation. Thereafter, the central and state governments will have to pass the central and state GST legislations and announce the date from which it will be implemented.

The Directorate General of Foreign Trade (DGFT) from time to time issues notifications for fixation or addition of SION for different export products. The DGFT via notification no.,41/2015-2020 dtd 2nd Nov 2016 made the following ammendments in Standard Input Output Norms (SION) in food products.

Around 20 mines across the country would be put to auction soon, Union Secretary for Mines Balvinder Kumar said here today. Of the total 17 mines auctioned so far after amendment of the MMDA Act, the highest 7 blocks belonged to Karnataka.

UK's Prime Minister Theresa May faced the first parliamentary defeat over Brexit after the Upper House voted for an amendment thereby delaying the bill which empowers her to begin talks for her country's exit from the European Union.