Business
Decriminalising bouncing of cheques will increase problems for businessmen: Dipen Agrawal
CAMIT (Chamber of Associations of Maharashtra Industry and Trade) has strongly protested the suggestions by Department of Financial Services, Ministry of Finance, to decriminalise certain actions/omissions incorporated as economic offences under nineteen different acts particularly the offence of dishonour of cheque under Section 138 of Negotiable Instruments Act 1881.
Dipen Agrawal, President, CAMIT
Dipen Agrawal, President, CAMIT, said that, it is true that criminalizing procedural lapses and minor non-compliances increases the burden on businesses and hampers ease of doing business and law must uphold and reflect the values and beliefs of the society in the present time. The recent announcement by the government to decriminalise procedural defaults under the Income Tax Act, 1961 and the Companies Act, 2013 is highly praised by all stakeholders.
However, Agarwal said that the executive branch of government should be extra cautious while decriminalising any offence and should ascertain beyond reasonable doubt that the offence proposed to be decriminalised is a mere procedural lapse and has no large-scale impact across society; that whether the reasons for classifying the said action/omission as an offence, at the first instance, still exist or not; and it should be ensured that future perpetrators of the said offence will not equate decriminalisation as legalisation of the offence decriminalised.
Agrawal added that decriminalisation of offence U/s 138 & 141 to reduce pendency of cases is like the SHO of Police Station avoiding registration of FIR for bringing down the crime rate in the area under his jurisdiction.
Mohan Gurnani, Chairman, CAMIT, said that the proposed decriminalisation of offence U/s 138 and 141(3) of N.I. Act is being opposed because the suggestions concern everybody whether he is a man on the street, a layman, a business magnate, an industrialist or a banker. Gurnani said that more than 35 lakh cases U/s 138 are pending, which constitutes more than 15% of the total criminal cases pending in District Courts. The situation is alarming but decriminalising the offence U/s 138 is not the solution. It will in fact burden the civil side of the judiciary, which is already witnessing pressure on it.
In 2017, government had inserted Section 143A and 148 to make the NI Act more effective and powerful by providing interim relief to the complainant to further strengthen the use of cheques and distinguish them from other negotiable instruments. Supreme Court of India has recently observed that more than half of the cheque bounce cases (about 18 lakh) are pending due to absence of accused. Gurnani demanded, government should formulate ways and means to compel the appearance of accused persons before the trial court.
Ashok Bafna, Executive President, CAMIT said that the creditworthiness of cheques as a medium for settlement of consideration has increased considerably over the years after making dishonour of cheques an offence in 1988. Parliamentary and Judicial interventions over the time have attempted to smoothen the rough-edges for early disposal of cases U/s 138 of N.I. Act. These measures have built confidence of the business community to do business against Post Dated Cheques (PDC) and if the sanctity of cheques is reduced by decriminalisation of Section 138 and 141, it will harm the ease of doing business.
The goals of reduced pendency of cases & burden on business; enhance confidence among investor and ease of doing business; and revival of economy post Covid-19 pandemic can be achieved by ensuring early and just disposal of cheque bounce case, added Ashok Bafna.
CAMIT called for concerted efforts by all the stakeholders i.e. Administration, Police, Banks and Presiding Officers of Trial Court to develop consensus to adopt the suggestions made in the memorandum submitted by the organisation, informed a press release issued by Sanjay K Agrawal, Vice President (Nagpur) of CAMIT.
Nagpur News
RMBRCN celebrates Charter Presentation & Installation, Rina Sinha becomes Charter President
The Rotary Means Business chapter of Rotary Club Of Nagpur (RMBRCN) celebrated their Charter Presentation and Installation of Board on September 17, 2023 in a crisp official ceremony at Hotel Centre Point, Nagpur.
Rotary Means Business encourages Rotarians to support the success of their fellow Rotarians by doing business with them and by referring others to them.
Charter President Past President Rtn Rina Sinha presided over the ceremony. Renowned entrepreneur and Rotarian Aspi Bapuna, Chairman of Bapuna Group, was the Chief Guest and Rtn Namita Sharma, President of RCN, was the Guest of Honour.
The Board of Directors of RMBRCN include Rtn Navneet Jain, Vice President, Rtn Mohammed Master, Honorary Secretary, Rtn Sanjay Aggarwal Treasurer, Rtn Rakhi Bhatia Director Chapter Service, Rtn Rahul Shrivastava, Director Vocational Service, Dr Ruchi Choudhry, Director Membership Development, Ranjana Duseja, Director Attendance.
Past Rotary District Governor (PDG) Shabbir Shakir, Past Presidents- Bharat Goenka , Khushnoor Chugh, Sanjiv Chugh, Akhtar Parvez, Tejinder Singh Rawal, Alok Goenka, Jerestine Watchmaker, Sandeep Dhodapkar, Sanjay Arora, President RMB Nagpur, and Behram Patel and Amitabh Sinha were present.
President Rina Sinha informed that within a short period of its formation already 48 members representing various businesses have joined the chapter and the numbers are increasing . The Chapter has already crossed 5 crores of business amongst their members and RMB will further strengthen Rotary in membership growth and retention .
Chief Guest Rtn Aspi Bapuna lauded the chapter’s success and reiterated that its comfortable and safe to do business among fellow rotarians as all follow the Four Way Test of Rotary. Jerestine introduced President Rina. Aspi Bapuna presented the charter and installed President Rina Sinha . Rtn Namita congratulated the RMB chapter and informed that this is the new initiative at RCN.The Board was installed by Rina Sinha and all members were installed by the Past Presidents. An exclusive digital Monthly Magazine ‘Growth Engine’ was launched by Editor Niharika Chugh Vali.
Navneet Jain and Rahul Choudhry conducted the referral and thank you session where enthusiastic members informed about their successful business details. Nishchay Sinha launched the social media and MYRMB app which connects members to other chapters digitally, Treasurer Sanjay Agarwal gave treasurers report, Rtn Rakhi Bhatia managed the event. Rtn Parag Datey and Niharika were the Masters of Ceremony (MOCs). Secretary Mohammed Master proposed the formal Vote of Thanks .
Nagpur News
Nitin Gadkari inaugurates double-decker electric bus availed for senior citizens in Nagpur
Minister of Road Transport and Highways Nitin Gadkari, on Saturday, inaugurated the double-decker electric bus designed for senior citizens in Nagpur. The initiative has been undertaken in association with Ashok Leyland’s CSR (Corporate Social Responsibility) Committee and Jyeshtha Nagarik Pratishthan.
Executive President of Jyeshtha Nagarik Pratishthan Datta Meghe, Vice Chairman of Ashok Leyland Limited Yash Sachar, CEO of Switch Mobility Mahesh Babu, and other dignitaries were present during the inauguration.
“I am very thankful to Ashok Leyland’s electric vehicle arm ‘Switch Mobility’ for donating an electric bus for our senior citizens. The bus can hold a capacity of 65 people and will benefit a lot to disabled and senior citizens,” Gadkari said.
“We already have a green Electra bus available to us for the past five to six years. Krishna Reddy has taken the responsibility of repairing and providing air-conditioning to the bus, moreover, he is providing us with one additional bus. A Tata Motor bus will be arriving this month as well, giving us a total of four buses to operate. This will solve the issue of waiting list due to the lack of buses for senior citizens in the city.” he added.
With the help of these buses, senior citizens can avail the benefit of free trips to religious places like Ambhora, Adasa, Shegaon, Mahur, Dhapewada, and Kalamb.
Also read: NMC confiscates 117 PoP idols, collects Rs 10,000 fine from seller
A 38-year-old married man named Manish alias Raj Yadav, on Sunday, committed suicide during a Facebook live-stream after allegedly being accused of rape by his girlfriend and her family in Nagpur.
During the live stream, Manish, who was married and a father to three children, stated that his 19-year-old girlfriend, Kajal, along with her family members demanded a sum of five lakh rupees and threatened to press charges of rape if he failed to do so.
On September 6, the situation became grave as the woman’s family accused him of eloping after Kajal went missing from her residence.
The deceased refused the claims of having any sexual relationship with the woman and identified her, her family, and a photo studio operator responsible for his condition. He, then, jumped into the river.
After the live video surfaced online, Kalamna Police launched a search operation and recovered the deceased’s body from the river. Four people have been detained in the case for questioning. Further investigation is underway.
Also read: NMC confiscates 117 PoP idols, collects Rs 10,000 fine from seller
RMBRCN celebrates Charter Presentation & Installation, Rina Sinha becomes Charter President
Nitin Gadkari inaugurates double-decker electric bus availed for senior citizens in Nagpur
Nagpur: Married man accused of girlfriend’s rape commits suicide on Facebook live
NMC confiscates 117 PoP idols, collects Rs 10,000 fine from seller
Jayaswal Neco group celebrate BL Shaw’s 90th Birthday, 50th Founder’s Day in a huge gala event in Nagpur
Queen’s coffin laid to rest in Edinburgh for the night
2 charred to death, 1 injured during funeral in Nagpur
SUV blows up parked cars, climbs on footpath leaving 5 injured at Nagpur’s Panchsheel Chowk
4 arrested for gang raping 30-yr-old at New Delhi railway station
8-yr-old sits by road with brother’s body as father tries to arrange vehicle to return home
Nagpur entrepreneur Siddharth Prasad launches Brew 31
Dance enthusiasts, friends pay tribute in loving memory of Tiki Peters in Nagpur
Nagpur’s who’s who seek Lord Shiva’s blessings during Gupta’s customary Maha Shivratri celebrations
Shivaji Jayanti celebrations held at DPS Kamptee in Nagpur
