The Things You Should Know

The Insolvency and Bankruptcy Code was enacted by the Parliament in 2016. In January 2018, the Government had brought first amendment to this act and in June 2018 Government brought second amendment though ordinance. In monsoon session of the Parliament, in July 2018 it was introduced to the Parliament. The bill was passed by the Parliament on August 10, 2018 and it received the assent of the President on the 17th August, 2018. The 2 nd amendment is important in terms of home buyers, MSME promoters, complexity regarding section 29A, voting percentage required for resolution plan and so on. Let’s analyse the key features of this amendment. Salient Features of ”The Insolvency and Bankruptcy (2 nd Amendment) 2018”: Home buyers are now Financial Creditors: In 2016 IBC code there was no security for home buyers as the act had neither classified home buyers as operational creditor nor the financial creditor i.e even if they can submit their proof of claim to IBC process...

Women’s reservation bill is a constitutional amendment bill as it requires amendments in the constitution of India like. It is the  The Constitution (One Hundred and Eighth Amendment) Bill, 2008 . To pass the Constitutional amendment bill from the Parliament requires special majority in both the houses under the article 368 of the Constitution. Article 368 of Indian Constitution defines power of Parliament to amend the Constitution and the procedure to be followed to do so.  Articles of the Indian Constitution can be amended by a simple majority in the Parliament (Second Schedule, Article 100(3), 105, 11, 124, 135, 81, 137), or by special majority that is majority of the total membership of each house and by majority of not less than two thirds of the members of each house present and voting , or by Ratification by the State Legislatures after special majority (Article 73, 162, Chapter 1V of Part V, Chapter V of Part V1, Seventh Schedule, representation of the State in P...

Quick Background:   The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013  popularly known as ' The Land Acquisition Act- 2013 ' was introduced by the previous UPA government and by the then rural development minister Jairam Ramesh. The bill was passed by the Parliament in September 2013. Objective of the Bill:  As the name suggests the principal objective of this bill was to make the land acquisition process transparent, to provide fair compensation and make adequate provisions for the rehabilitation and resettlement for the families whose land has been acquired or proposed to be acquired. For The Land Acquisition Act - 2013 | Chapter 1, please visit: https://politoeconomy.blogspot.com/2018/12/the-land-acquisition-act-2013-chapter-1.html Remaining aspects of the act are covered in this article. Special powers in case of urgency to acquire land in certain cases:  The section 40 of thi...

The results of 5 state assembly elections declared on 11th December. Lets analyse the state wise outcome.  Madhya Pradesh: After tight contest and 22 hours long counting process Congress party emerged as the single largest party in Madhya Pradesh assembly after 15 long years. However no party managed to get clear majority this time. Congress got 114 seats 2 less than the magic figure 116 while the BJP managed to win 109 seats. 4 seats went to independent. All 4 independent winners were from Congress party and contested independent as Congress denied them ticket. 2 seats went to Bahujan Samaj Party and 1 won by Samajwadi Party.  In terms of vote share BJP got the highest popular vote 41%. Congress got 40.9%. The difference in terms of vote share is only 0.1% against 8.5% in last election. In 2013 assembly elections BJP had got 44.88% and Congress had got 36.38%. In terms of region wise analysis , Congress has increased its tally in almost all regions except Vindhya reg...