Latest news with #2025Bill
Time of India
15 hours ago
- Business
- Time of India
Online Gaming Bill, 2025 : Encourages legitimate gaming & safeguards against predatory gambling
India's digital revolution in the last 11 years has transformed our country. From UPI payment system to 5G connectivity and the semiconductor ecosystem, Digital India is empowering crores under the leadership of Prime Minister Narendra Modi. But with these advances come new threats, especially in the online gaming industry, whose unbridled expansion has promoted addiction, financial devastation and even death. The Promotion and Regulation of Online Gaming Bill, 2025, brought on August 20, 2025 is a bold and much-needed measure to utilize the potential of gaming while protecting society from its dangers. The timeliness of this bill cannot be overemphasized. Predatory online money gaming applications, usually based in offshore tax havens, have targeted vulnerable Indians, particularly our young, with deceptive plans and hollow promises of instant wealth. The fallout is catastrophic: A man in Bandipora lost Rs 1.5 crore, leaving his family homeless; in Mysuru, a father and two sons took their lives after devastating gaming losses. Karnataka saw 32 suicides of gamers in merely 31 months which was a public health emergency. These websites don't only hurt people; they facilitate financial fraud, money laundering and even terror financing, putting the nation's security at risk. The 2025 Bill acts upon these threats with fineness and restraint. It prohibits online money games encompassing betting, gambling, fantasy sports and lotteries with stringent punishment: 3-5 years imprisonment and Rs 1-2 crore fines for operators, advertisers and facilitators of finance. The Online Gaming Authority, vested with power under the Information Technology Act, 2000, will block unlawful sites and enforce compliance. The important point is that this is not an assault on gaming itself. The Bill is a champion of e-sports as a legitimate sport, setting up training academies and incentives, and encouraging social and educational games that promote skill-building and cultural values through the Ministries of Electronics & IT and Information & Broadcasting. This bill is a protector of India's youth, who constitute more than 65 per cent of our population. Through age verification, limiting expenditure, and grievance redressal systems, it safeguards families from the psychological as well as economic burden of addiction. Data localisation and synchronization with the Financial Intelligence Unit stamp out illicit trade, bringing digital gambling laws into line with physical-world legalities such as those in the Bharatiya Nyaya Sanhita, 2023. Such provisions establish a secure digital community, technology working for people, not predators. Key provisions of the Promotion and Regulation of Online Gaming Bill, 2025 1. Promotion and recognition of e-sports -e-sports recognised as a legitimate form of competitive sport in India. -Ministry of Sports to frame guidelines and standards for conduct of e-sports events. -Establishment of training academies, research centres, and technology platforms for advancement of e-sports. 2. Promotion of social and educational games -Central Government empowered to recognise, categorise, and register online social games. -Facilitation of platforms for development and distribution of safe, age-appropriate social and educational games. -Awareness programmes on the positive role of social games in recreation, skill-development and digital literacy. -Support for cultural and educational gaming content aligned with Indian values. 3. Prohibition of harmful online money games -Complete ban on offering, operating, or facilitating online money games, irrespective of whether based on skill, chance, or both. -Ban on advertising and promotion of money games across all forms of media. -Ban on financial transactions linked to online money games; banks and payment systems barred from processing such payments. -Empowerment to block access to unlawful gaming platforms under the Information Technology Act, 2000. 4. Establishment of an online gaming authority -Central Government to establish a national-level Authority or designate any existing Authority or Authorities or any agency for oversight. From an economic perspective, the Bill is the driving force for wholesome growth. India's gaming industry, set to expand to Rs 25,000 crore by 2028, has the potential to create more than 2 lakh jobs. By offering a transparent regulatory environment, the Bill promotes ethical investment and innovation, especially in tier II and III cities, making India a gaming export leader in the world. It's a reflection of Modi government's 'Minimum Government, Maximum Governance' ethos, with an extension of digital payments and data protection reforms to create a safe, innovation-led Digital India. The Promotion and Regulation of Online Gaming Bill, 2025 is not policy—it's a matter of conscience to safeguard our children and ensure our country's future. In checking exploitation while fostering ingenuity, it ensures gaming as a force for good without falling prey to addiction and trap laid by gambling platforms. India will not let exploitative platforms harm its citizens. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
The Print
a day ago
- Business
- The Print
New insolvency frameworks to shorter timelines, how 2025 amendment bill proposes to transform IBC
The amendments seek to address concerns about the original IBC 2016, which has suffered from several problems, such as procedural delays and patchy implementation. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025—introduced in the Lok Sabha on 12 August by Finance Minister Nirmala Sitharaman, and currently before a Joint Parliamentary Committee—introduces seven major changes, from creditor-led pre-insolvency resolution, to cross-border and group insolvency frameworks. New Delhi: Nine years after the introduction of the Insolvency and Bankruptcy Code (IBC), 2016, the government has unveiled a new bill proposing major reforms that seek to fix delays, streamline implementation and bring India's insolvency system in line with global standards. When first enacted, the IBC promised to transform India's approach to insolvency, aiming to rescue distressed companies through a time-bound process rather than forcing them to shut down. It improved accountability and credit discipline among debtors, but over time, delays and uneven implementation undermined its efficiency, often leaving creditors waiting years for recoveries. Although the code did deliver some high-profile resolutions, such as the Essar Steel case, it became equally known for its persistent flaws, including huge case backlogs, as well as protracted admission and resolution timelines. The absence of frameworks for cross-border and group insolvencies, as well as uncertainties created by rulings like the Rainbow Papers, compounded the challenges. In recent years, banks, investors and regulators repeatedly flagged these gaps, pressing for a redesign of the framework. The 2025 Bill responds to these concerns by introducing reforms that seek to restore efficiency and align India's insolvency processes in line with global best practices. The changes are also designed to both safeguard financial institutions and protect troubled companies that are still in a position to be revived. 'One of the government's biggest concerns has been the underperformance of the National Company Law Tribunal (NCLT), which has caused repeated delays. The new provisions are expected to address these frustrations,' insolvency lawyer and expert Sumant Batra told ThePrint, adding that the new bill was 'revolutionary'. The 2025 Bill draws heavily from a report by the 2023 Expert Committee constituted by the Insolvency and Bankruptcy Board of India (IBBI), which had already examined the potential use of mediation under the IBC. The report, submitted in January 2024, proposed a framework for mediation as a complementary tool to resolve disputes during insolvency, bankruptcy and liquidation processes. The 2025 Bill has adopted its recommendation to add structured pre-insolvency and dispute resolution mechanisms. Also Read: Defunct assets, robust economy — why cases under IBC are stretching ever longer & yielding less Pre-insolvency framework One of the key features of the 2025 Bill is a new creditor-initiated pre-insolvency process, which will open a narrow window for genuine promoters to retain control of their companies. The new model is expected to slightly relax an existing IBC provision barring defaulting promoters from participating in the insolvency process. It is more flexible and allows creditors to inform the NCLT by filing an application in cases where lenders still have confidence in a promoter. The NCLT's role will be limited to approving the final resolution plan, and the process will be carried out in a time-bound manner. Debtors will continue to run companies while lenders appoint an insolvency professional to supervise. Promoters will be given the first chance to present a resolution plan. 'This approach minimises disruption to management and prevents value erosion. Globally, many jurisdictions adopted similar practices after COVID-19,' said Batra. The government will notify the categories of companies and creditors to which this process will apply. Unlike the Pre-Packaged Insolvency Resolution Process (PIRP) for MSMEs—which allowed a debtor-in-possession model but was limited to small enterprises with defaults up to Rs 1 crore—this new framework applies to a wider category of companies. Cross-border insolvency Another key amendment introduces a long-pending cross-border insolvency framework, which will give the Centre the power to frame rules that, in turn, will allow the NCLT to deal with cases in multiple countries. Under the IBC amendment bill, India will adopt the United Nations Commission on International Trade Law (UNCITRAL) Model Law, already in force in nearly 50 countries. This will allow Indian insolvency professionals to seek recognition in foreign courts where debtor assets are located, similar to Chapter 15 of the US Bankruptcy Code. 'This move positions India as a globally ready economy and is expected to boost international investor confidence,' said Batra. Group insolvency The bill also introduces, for the first time, a framework for procedural consolidation of group companies' insolvencies. While practised informally in jurisdictions such as the US and UK, India will now formally allow group insolvency proceedings. This means that if a subsidiary faces insolvency, group entities can be handled collectively. Although the Committee of Creditors (CoC) will remain distinct, a single insolvency professional will coordinate the process, and a consolidated plan can be prepared. 'This is expected to significantly improve efficiency and reduce costs,' said Batra. Faster implementation of plans The new bill also aims to speed up resolution plans that often get stuck in the NCLT due to disputes among creditors despite CoC approval, by separating such distribution disputes from plan approval. Once the CoC approves a legally compliant plan, the NCLT will clear it without waiting for disputes over how proceeds should be shared among creditors to be resolved. Such distribution issues can be litigated later, allowing the resolution applicant to take charge immediately. The move is aimed at getting companies back on track immediately after the approval of the resolution plan. The NCLT will be required to decide approval applications within 30 days, with reasons recorded for any delay. If flaws are identified, 'the NCLT can remand the plan back to the CoC instead of rejecting it outright', Batra said. Also Read: Amid Trump's tariff bombs, India's business with America surged while imports from Russia dipped 10% Undoing the Rainbow Papers judgment The bill also aims to reverse the 2022 Rainbow Papers case ruling, where the Supreme Court held that dues owed to state governments under Value Added Tax (VAT) laws could be treated as secured debts under the IBC. This gave state tax authorities priority in liquidation, effectively recognising them as 'secured creditors'. The amendment narrows the definition of 'security interest' to only contractual security (like mortgages or pledges) created through agreements between debtor and lender. Statutory claims – like unpaid VAT, GST or excise – will no longer count as secured debts. In simple terms, banks and financial creditors will get priority over government tax claims, restoring the original design of the IBC where state dues rank below secured financial creditors. Liquidation reforms In the liquidation stage, the role of the CoC will continue. Creditors will retain the right to appoint or remove liquidators, addressing concerns that liquidation processes were falling through the cracks. The existing Stakeholders Consultation Committee mechanism will be replaced with CoC oversight, increasing accountability. Timelining avoidance applications The 2025 amendment Bill introduces timelines for various aspects of the insolvency resolution process, including the filing of avoidance applications. Under the IBC, an avoidance application is used to challenge and reverse certain transactions by a company before it enters insolvency. The new provision mandates a 14-day timeline for the Adjudicating Authority (NCLT) to decide on the admission or rejection of an application. Delays beyond this period require the NCLT to record reasons in writing. Stricter withdrawal norms Finally, the bill makes withdrawal of insolvency applications more stringent. Once the CoC is constituted within 30 days of admission, cases cannot be withdrawn on the basis of a settlement with a single creditor. After the issue of Form G inviting resolution applicants, withdrawal will not be permitted at all. 'A short window of 15–20 days will be available after the CoC constitution, ensuring that insolvency proceedings are not derailed midway,' Batra explained. (Edited by Sugita Katyal) Also Read: Slashing GST on waste can unlock Rs 1.8 lakh crore, high tax hurting circular economy goals—CSE
Indian Express
3 days ago
- Business
- Indian Express
Govt tables Jan Vishwas Bill 2.0 to decriminalise 288 provisions for ease of business
Commerce Minister Piyush Goyal on Monday tabled the Jan Vishwas (Amendment of Provisions) Bill, 2025 that proposes the decriminalisation of 288 provisions relating to minor offences in order to make doing business easier. The Commerce and Industry Ministry said the 2025 Bill builds on the Jan Vishwas Act of 2023 which decriminalized 183 provisions. The 2025 Bill has been referred to a select committee which is expected to prepare a report on it by the first day of the next session. The Bill proposes to amend 355 provisions in all. Besides the 288 provisions that are proposed to be decriminalised, the Bill proposes the amendment of 67 provisions under the New Delhi Municipal Council (NDMC) Act, 1994 and Motor Vehicles Act, 1988 to facilitate ease of living, the Ministry said in a statement. The government said the proposals involve removal of imprisonment clauses for minor, technical or procedural defaults and have been replaced with monetary penalties or warnings. To reduce the judicial burden, designated officers have been empowered to impose penalties through administrative processes. Four Acts — Tea Act, 1953, Legal Metrology Act, 2009, Motor Vehicles Act, 1988, and Drugs and Cosmetics Act, 1940 — which were part of Jan Vishwas Act, 2023 are proposed for further decriminalisation under the current Bill, the government said. As many as 47 provisions under the NDMC Act have been proposed for amendments. The proposal replaces the 'rateable value' method of property tax with Unit Area Method (UAM), introducing a transparent and formula-based system linked to property size, usage and location. 'This will simplify assessment, reduce discretion, and enhance compliance,' a ministry official said. The amendments proposed in the 20 provisions of Motor Vehicles Act, 1988 will provide relaxation and clarity in compliance, including state-wide vehicle registration instead of jurisdiction-specific. For instance, the reporting period for vehicle registration cancellation extended from 14 to 30 days. Insurer intimation period on transfer of insurance certificate has been proposed to be extended from 14 to 30 days. 'These reforms aim to simplify procedures for citizens, improve transparency in property taxation, and provide relief in vehicle-related compliances,' the official said. The official said that that 11 offences under the Apprentices Act, 1961 like employer requiring an apprentice to work overtime without approval of Apprenticeship Adviser, refusal to furnish information or return, employing apprentice on work which is not connected to his training, etc. which are currently punishable with fine (Rs. 1000) are proposed to be converted to advisory for the first contravention and with censure or warning or penalty for every subsequent contravention. In the Central Silk Board Act, 1948, imprisonment up to 1 year and fine up to Rs. 1,000 has been proposed to be converted to only warning for first instance of contravention and penalty between Rs 25,000 to Rs 1 lakh for continuing or repeated offences for furnishing any false statement. Imprisonment up to 1 year and fine up to Rs 1,000 have been proposed to be removed for obstructing officers of the Board in exercise of any power, the official said. Under the Agricultural and Processed Food Products Export Development Authority Act, 1985 (APEDA), fine up to Rs 5,000 has been proposed to be converted to warning for first instance of contravention and penalty with minimum Rs 10,000 for subsequent contravention for failure to furnish any return or furnishing a false report.
The Hindu
7 days ago
- Politics
- The Hindu
Bill amending Uttarakhand anti-conversion Act includes prison sentences ranging from three years to life term
With the aim to render the State's existing anti-conversion law more stringent, the Uttarakhand Cabinet on Wednesday (August 13, 2025) approved the Freedom of Religion (Amendment) Bill, 2025, which allows jail sentences ranging from three years to a life term for persons found guilty of 'forced conversions'. Previously, the maximum jail term for a 'forced conversion' was 10 years. The Bill will be tabled in the monsoon session of the State Assembly, scheduled to commence from August 19. The Freedom of Religion Act in Uttarakhand was introduced in 2018 with the aim of reinforcing the importance of each religion equally under the right to freedom of religion in Articles 25, 26, 27 and 28 of the Constitution of India. The Act was first amended in 2022. Attempts to convert a person into another religion with the lure of jobs, money, or other 'gifts' would be considered a forced conversion, officials involved in the framing of the Bill said. 'Promises of a better life, or free education in a school or college maintained by a religious institution prior to religious conversion will attract a punishment of three to 10 years. Mass conversions, and conversion activity with foreign funding will attract punishment from seven to 14 years. Persons found guilty of the forcible conversion of a woman, child, an individual belonging to a SC (Scheduled Caste)/ ST (Schedule Tribe) community, or a person with disability can get a jail term of five to 14 years,' an official said. The Bill defines 'allurement' as 'any gift, gratification, easy money or material benefit, whether in cash or kind, employment, or by invoking divine displeasure'. 'Portraying the practices, rituals and ceremonies of any religion or any integral part thereof in a prejudicial manner in relation to any other religion; or glorifying one religion as against another will also be considered allurement,' the official said. Human trafficking, and threat to life attract jail terms from 20 years to life under the 2025 Bill. The accused can be booked for 'false promises of marriage'. Hiding one's religion with the intention of marriage could attract imprisonment from three to 10 years, and a fine of ₹3 lakh. 'Speaking ill of one religion and praising another, and propaganda on social or digital media would also be considered participation in religious conversion,' the official said. The amended Bill authorises District Magistrates to confiscate properties 'acquired from a crime related to religious conversion'. Claims to legitimate ownership would have to be proved, the official said. The amended Bill includes provisions for free legal aid, accommodation, maintenance, medical, and other facilities for the victims of forcible conversions, whose names and identities would be kept confidential. A special government scheme would ensure victims receive help immediately. Accused persons may be arrested without a warrant, according to the 2025 Bill, and bail granted only if the court were convinced that the accused was not guilty, and would not commit such crime again.
India.com
12-08-2025
- Business
- India.com
Good news for all EPFO pensioners! govt, private employees to get benefit as per new Income Tax Bill 2025 of…
The government has given a major gift to pensioners. As per the Income Tax Bill 2025 passed in the Lok Sabha, any lump-sum (commuted) pension from a government-approved pension fund will no longer be taxed. Earlier, this exemption was available only to government employees, but now private sector employees who have invested in any recognised pension fund (like the LIC Pension Fund) will also be eligible for the benefit. What Is A Commuted Pension? A commuted pension means receiving a one-time lump sum in place of monthly pension installments. For example, if a pensioner wants to receive the next 10 years of pension in one payment, it is called a commuted pension. This gives the retiree immediate access to a large amount, which can be used for personal needs or investments. Who Is Eligible In A New Scheme? Under the new provisions: All government employees, including defence personnel and employees of public sector undertakings are eligible. Private sector employees whose employers do not operate a pension scheme but who have themselves contributed to an approved pension fund. What Has Changed Now? Under the existing income tax law, the lump-sum (commuted) pension received by government employees was completely tax-free, while for non-government pensioners, the amount was fully taxable. The Lok Sabha's Select Committee called this a discriminatory tax policy and recommended reforms. The 2025 Bill will now remove this disparity and have granted equal tax exemption to all eligible pensioners. Many people in the country voluntarily invest in recognised pension schemes but if they are not government employees, they do not get tax exemption. This amendment will not only reduce the tax burden but also encourage more people to invest in pension funds for retirement planning.
