15 December 2019: PIB Summary & Analysis

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December 15th, 2019 PIB:- Download PDF Here

TABLE OF CONTENTS

1. Sustainable Development Cell for Environmental Mitigation Measures
2. Year End Review -2019 of Ministry of Corporate Affairs

Sustainable Development Cell for Environmental Mitigation Measures

Context:

The Ministry of Coal has decided to establish a ‘Sustainable Development Cell’ for environmental mitigation measures.

Details:

• This is being done in order to address environmental concerns during the decommissioning or closure of mines.
• This move gains significance as new private entities are now going to form a significant part of the future and a set of guidelines for proper rehabilitation of mines need to be evolved in tune with the global best practices.
• Role of Sustainable Development Cell (SDC):
  • The SDC will advise, mentor, plan and monitor the mitigation measures taken by the coal companies for maximising the utilisation of available resources in a sustainable way,  minimising the adverse impact of mining and mitigating it for further ecosystem services.
  • It will act as a nodal point at the Ministry of Coal level in this matter.
  • This cell will also formulate the future policy framework for the environmental mitigation measures including the Mine Closure Fund.
• Tasks of the SDC:
  • Land amelioration and afforestation: In India, approximately 2,550 sq. km of area is under different coal mines and there are also plans to bring more areas under it. These land masses require both extensive and intensive amelioration measures.
  • Air quality, emission and noise management:
    • To advice coal companies for effective implementation of environmental mitigation measures (water sprinkling, dust suppression methods, noise barriers, etc.) related to air and noise pollution generated due to mine activities, heavy earth moving machines (HEMMs), transport of coal, etc.
    • It will also work towards energy efficiency in the mining operation, noise and emission reduction in the case of HEMMs.
    • Analysis of Environment Management Plans (EMP) of different companies and advising coal companies to make them more effective.
  • Mine water management: The plan will suggest ways and also have innovative planning for storage, treatment and re-use of such water for drinking, irrigation, fisheries, tourism, industrial or any other sustainable purpose.
  • Sustainable overburden management:
    • The cell will also check feasibility and suggest measures for the reuse, recycling and rehabilitation of over-burdened dumps in a sustainable manner.
    • The SDC will also examine and plan out use of overburdened material for use in different infrastructure projects, earthen bunds, etc.
  • Sustainable mine tourism: To explore and conceptualise a plan for the beautification & creation of eco-parks in the reclaimed areas (which will also include water bodies) for recreation activities and tourism purposes. It will also explore tourism potential and plan it out in a few underground mines.
  • Planning and monitoring: To conduct analysis of mine closure activities, help coal companies finalise a time-frame for mine closure and formulate guidelines for the same.
  • Policy, research, education, and dissemination:
    • Hiring experts/institutions/organisations to conduct specific studies for establishing a robust knowledge base.
    • Organising consultative meetings, workshops, field visits, exposure study tours, etc. to enrich the knowledge base, identify the best global ideas for environmental mitigation planning and monitoring.
    • Conducting regular workshops and seminars for company level officials to educate them in new methods, technologies, approaches and also global practices.

Year End Review -2019 of Ministry of Corporate Affairs

Context:

The Ministry of Corporate Affairs’ year-end review for 2019 is briefly given below.

Details:

• Ease of Doing Business:
  • India has improved its ranking on the World Bank’s “Doing Business” 2020 report. As per the report, India has moved up 14 positions to 63^rd position as compared to 77^th position in 2018.
  • India’s leap of 14 ranks in the Ease of Doing Business ranking is significant considering that there has been continuous improvement since 2015 and for the third consecutive year India is amongst the top 10 improvers.
  • Steps taken for improving ‘Ease of Doing Business’:
    • Integrated Incorporation Form – Simplified Proforma for Incorporating Company Electronically (SPICe) introduced which extends 8 services (CIN, PAN, TIN, DIN, Name, EPFO, ESIC and GSTN) from three Ministries through a single form.
    • De-criminalization of technical & procedural violations under Companies Act and reducing the burden on criminal courts & NCLT.
    • RUN – Reserve Unique Name: Web service for name reservation for companies & LLPs, re-engineering the process of allotment of Director Identification Number (DIN), Zero MCA fee for company incorporation up to Rs 15 lakh authorized capital.
    • Mergers and acquisitions process made faster.
    • The Competition Commission of India (CCI) introduced an automatic system of approval for combinations under Green Channel.
    • Exemptions from various provisions of Companies Act to Private companies, Government Companies, Charitable companies, Nidhis and IFSC (GIFT city) companies.
    • Provisions relating to the issue of shares with Differential Voting Rights (DVRs) modified with the objective of enabling promoters of Indian companies to retain control of their companies in their pursuit of growth and creation of long-term value for shareholders, even as they raise equity capital from global investors.
    • Enabling provisions with regard to Mediation and Conciliation under the Companies Act, 2013 enforced.
    • Harmonising norms with SEBI by reducing the time limits of public offers so that investors get securities within three days of application instead of the earlier six days.
    • Launched Independent Director’s Databank to provide an easy to access & navigate platform for the registration of existing Independent Directors as well as individuals aspiring to become independent directors.
    • Setting up a Central Registration Centre for name reservation and incorporation of companies & LLPs within 1-2 days as opposed to an average of at least 15 days earlier.
    • During the last three years, more than 1,25,000 companies have been incorporated every year in the country in this manner, as compared to 50-60,000 companies in earlier years.
  • Read more on the National Company Law Tribunal (NCLT).
• Resolving Insolvency Index:
  • India’s ranking jumped 56 places to 52 in 2019 from 108 in 2018.
  • Recovery rate increased from 26.5% in 2018 to 71.6% in 2019 and time taken in recovery improved from 4.3 years in 2018 to 1.6 years in 2019.
  • For the institution of a robust Insolvency & Bankruptcy framework, the Insolvency and Bankruptcy Code (Amendment) Bill, 2019 was passed by Parliament and it came into force in August 2019.

December 15th, 2019 PIB:- Download PDF Here

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