Trump to raise issues of religious freedom, respect for minorities with Modi: White House

New Delhi, Mar 6: Union Finance Minister Nirmala Sitharaman on Friday will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 for consideration and passing in Lok Sabha.

In December last year, the Union Cabinet had approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016.

The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said.

The move is aimed at easing the insolvency resolution process and promoting the ease of doing business. Aimed at streamlining of the insolvency resolution process, the amendments seek to protect last-mile funding and boost investment in financially-distressed sectors.

Under the amendments, the liability of a corporate debtor for an offence committed before the corporate insolvency resolution process will cease.

The debtor will not be prosecuted for an offence from the date the resolution plan has been approved by the adjudicating authority if a resolution plan results in change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor or a related party of such a person.

The amendments are aimed at providing more protection to bidders participating in the recovery proceedings and in turn boosting investor confidence in the country's financial system.

New Delhi, Feb 11: The government has decided to rename National Institute of Financial Management (NIFM), Faridabad, as Arun Jaitley National Institute of Financial Management, an official statement said on Tuesday.

Set up in 1993 as a registered society under the Department of Expenditure, NIFM trains officers of Finance and Accounts Services recruited by the Union Public Service Commission (UPSC) as also officers of Indian Cost Accounts Service. The Union Finance Minister is the President of the NIFM Society.

"Aligning the vision and aspiration of the Institute for the future with the vision and contribution of late Arun Jaitley, the Government has decided to rename National Institute of Financial Management (NIFM) as the Arun Jaitley National Institute of Financial Management(AJNIFM)," the statement said.

NIFM has become a premier resource centre to meet the training needs of the central government for senior and middle level of management in the fields of public policy, financial management, public procurement and other governance issues for promoting highest standards of professional competence and practice.

Padma Vibhushan awardee Jaitley was the Union Minister for Finance and Corporate Affairs during May 26, 2014 to May 30, 2019.

Islamabad, Feb 17: Prime Minister Imran Khan on Monday warned that Pakistan may face another refugee crisis if the international community failed to take notice of the current situation in India.

Speaking at the two-day refugee summit in Islamabad on 40 years of hosting Afghan refugees in Pakistan, he said India’s "ultranationalist ideology going unchecked could lead to destruction and the region could become a flashpoint", The Express Tribune quoted him as saying.

Khan said if the international community does not take notice of this situation, it will create another refugee crisis for Pakistan as Muslims of India will move to Pakistan.

"This is not the India of Jawaharlal Nehru and Mahatma Gandhi. The United Nations (UN) must play its role otherwise it will become a very big problem in the future," Duniya News quoted Khan as saying.

He said said that Prime Minister Narendra Modi’s statement that India can destroy Pakistan in 11 days is not a responsible statement by a premier of a nuclear state with a huge population, the paper reported.

Khan made the statement in the presence of visiting UN Secretary General Antonio Guterres, who was also attending the summit.

He said because of the "Hindutva" ideology, Kashmiris have been lockdown for over 200 days. He alleged under the same ideology, the BJP-led government passed two discriminatory nationalistic legislations, targeting 200 million Muslims in India.

Khan was referring to India's Citizenship (Amendment) Act and the revocation of the special status to Jammu and Kashmir.

The new citizenship law passed by the Indian Parliament in December 2019 offers citizenship to non-Muslim persecuted religious minorities from Pakistan, Bangladesh and Afghanistan.

The Indian government has maintained that the CAA is an internal matter of the country and stressed that the goal is to protect the oppressed minorities of neighbouring countries.

India revoked Jammu and Kashmir's special status on August 5. Reacting to India's move, Pakistan downgraded diplomatic ties with New Delhi and expelled the Indian High Commissioner.

India has always maintained that Jammu and Kashmir is its integral part and ruled out any third party mediation, including either from the UN or the US, saying it is a bilateral issue with Pakistan.