COVID 19Op EdsOP. ED.

Introduction

The Government has introduced various schemes, perhaps which can be called necessary reforms, in various sectors to deal with the situation created today by the COVID-19 pandemic[1] which can adequately be described as an unprecedented anomaly especially for the developing nations of the world. In the wake of the pandemic India is being introduced to various legal and socio-economic reforms by the Government of India to help the already struggling economy to gather the much sought after momentum. The 5th tranche of the press conference held on 17.05.2020 focused on bringing in reforms in specific laws which shall be brought to life through Ordinances in an attempt to provide businesses in India to recover from the aberrance caused by the pandemic.

Since Lockdown 1.0 the business owners  have been waiting with baited breath, for a financial  relief package to ease the growing stress especially on the Micro, Small and Medium Enterprises  (“MSME”)[2]. The Government has faced various difficulties as well, however, as we enter Lockdown 4.0 the Government has introduced certain amendments which was an imminent need of the hour to give a sigh of relief to the business fraternity in the country. Prima facie these amendments seem to provide short term as well as long term  stability  to businesses across India for a sustainable growth model which shall enable such business to revive from the losses suffered during the pandemic. An overview of the proposed amendments which are sought to be introduced are:

1. A fresh outlook on the Insolvency and Bankruptcy Code, 2016

The Government of India after taking into account the  backlog of pending cases mounting at  National Company Law Tribunal (“NCLT”) and the  National Company Law Appellate Tribunal (“NCLAT”) have proposed to introduce an Ordinance enunciating as under:

  1. No fresh matters shall be initiated of insolvency for a period of 1 year. This shall reduce the workload since due to the implementation of lockdown the companies have suffered grave loss.
  2. Any default caused in the event of death of a person due to COVID-19 shall strictly be prohibited to come under the definition of default as per Section 3(12) of the Insolvency and Bankruptcy Code, 2016[3].
  3. The limit of default for Micro, Small and Medium Enterprises shall be increased from one lakh to one crore for a specified time period which shall be specified in the notification by the centre in consonance with Section 240-A(2) which shall be in the interest of public.

These reforms shall give a breather to the MSMEs and even to other companies facing difficulties in carrying out their regular business due to the pandemic. It is pertinent to note that it was the present Government which had introduced the long sought after Insolvency and Bankruptcy Code (“IBC”) in 2016 to subdue the woes of the companies and their shareholders and equipped them with an efficient and reliable infrastructure to avail their legal remedies. This was done in an effort to reduce the burden from the various High Courts and  Bankruptcy Tribunals across the country and efficiently deal with matters relating to Companies Act, 1956 and bankruptcy laws. Since its inception the NCLT and the NCLAT have managed to dispose of 41% of the total matter filed matters which seems to be satisfactory and has greatly helped in  achieving the objective of the IBC[4]. However, the Government felt that in order to further increase efficiency and further reduce the burden mounting on the Tribunals the above- mentioned reforms were imperative especially in light of the COVID-19 pandemic.

This shall further ease the stress at least for a year, on start-ups and MSMEs who may now focus on the functioning and services to be provided which further may lead to increase their quality and efficiency of work. Further the increase in the default limit from 1 lakh to 1 crore will also put such Companies at ease and mitigate the risk of getting engaged in legal proceedings.

2. Amendments with reference to Companies Act, 2013

The Government has taken a step forward to de-criminalise various sections of the Companies Act, 2013 which criminalised procedural non-compliances. For example Section 99 of the Companies Act, 2013[5] states:

Section 99. Punishment for default in complying with provisions of Sections 96 to 98.–

If any default is made in holding a meeting of the company in accordance with Section 96 or Section 97 or Section 98 or in complying with any directions of the Tribunal, the company and every officer of the company who is in default shall be punishable with fine which may extend to one lakh rupees and in the case of a continuing default, with a further fine which may extend to five thousand rupees for every day during which such default continues.

This provision and likewise other penal provisions with respect to non-compliances shall be de-criminalised for a specified period which shall be mentioned in the Ordinance. Further the Government in an effort to further de-congest the Courts has stated that the expert panel already introduced by the Ministry of Corporate Affairs (“MCA”)  shall adjudicate matters regarding compoundable offences under the Companies Act, 2013[6]. Earlier, only 18 sections were under the jurisdiction of the said expert panel, which shall now increase to 58 and those particular provisions would be specified in the Ordinance.

These reforms may lead to easing the business to be carried out by the various companies in India and may increase the work efficacy which shall further lead to bring our economy at pace which is effected tremendously due to the pandemic.

3. Merger of PSUs/PSEs on the horizon?

An introduction of private sector companies to conduct business with respect to areas which earlier restricted Public Sector Undertaking (“PSUs”) and Public Sector Enterprises (“PSEs”) is another major reform brought in by the Government of India. The PSUs enjoyed a certain monopoly in these markets however with this fresh induction of private companies will disrupt their earlier enjoyed market share in these specified areas[7]. It was further specified in the press conference held by the  Finance Minister that only 4 or less PSUs/PSEs  shall function in strategic sector and the ones having more than 4 shall undergo mergers to form  a large scale PSU/PSE.

For instance, if there are 10 PSUs/PSEs in a particular sector, the extra 6 shall be merged with any of the others to form at least 1 or 4 large scale PSUs. In view of the above it is apparent that this shall lead to increase in mergers of several PSUs/PSEs in India.

Conclusion

Notwithstanding the fact that this is a great step forward to decrease the workload of the Courts in India this may lead to delay in legitimate insolvency proceedings further being a refuge/relief for wilful defaulters and a vice for bona fide financial and operational creditors[8]. Further this step of the Government of India shall be a robust mechanism for institution of new start-ups, the PSUs once ruling the coal/aviation and certain other sectors shall now have to share their market with the private companies and/or the start-ups which shall now enter the market increasing employment and quality of services provided by them. India is a developing nation and with the proliferation of the coronavirus which lead to causing this pandemic has brought the Indian economy to a standstill. These reforms have given a new hope to build the economy of our country with the neoteric structure introduced, which shall require cooperation of the public and private sector enterprises along with the judiciary and the public at large.


*Senior Associate at Vardharma Chambers and may be reached at vidula@vchambers.in

[1] https://www.undp.org/content/undp/en/home/coronavirus.html

[2].https://msm.gov.in/know-about-msme

[3] Insolvency and Bankruptcy Code, 2016 

[4] https://www.financialexpress.com/economy/two-years-of-ibc-early-harvest-extremely-successful-recovered-rs-80000-crore-says-arun-jaitley/1432363/

[5] Companies Act, 2013

[6] https://economictimes.indiatimes.com/news/economy/policy/panel-for-internal-e-adjudication-system-to-take-load-off-nclts/articleshow/65568134.cms?from=mdr

[7] https://economictimes.indiatimes.com/wealth/personal-finance-news/the-govt-should-quit-all-businesses-except-utilities-public-monopolies-view/articleshow/69699327.cms?from=mdr

https://www.financialexpress.com/industry/new-fuel-retail-rule-easier-entry-norms-may-dent-monopoly-of-psus/1744560/

[8] https://www.indianeconomy.net/splclassrooms/what-is-financial-creditors-andoperational-creditors-under-the-ibc/

COVID 19Hot Off The PressNews

LIVE UPDATES [17th May, 2020]:

  • Focus: MNREGA, Health, education, Business, De-Criminalisation of Co. Act, Ease of Doing Business, State Governments, Public Sector Enterprises.
  • MGNREGA: Additional 40,000 Crore for the scheme
  • Ramping up the health infrastructure: Districts to have Infectious Diseases Blocks; More Testing Labs (Both Pvt. & Public)
  • PM E-Vidya Program to be launched; One Nation One Digital Platform; One Class One Channel
  • Debts related to pandemic, shall not be included in the category of default; No fresh Insolvency proceedings upto 1 Year; For MSMEs — A special insolvency framework will be notified under S. 240-A of IBC
  • Decriminalised most of the Technical Defaults under Companies Act
  • Decriminalisation of Companies Act defaults; 7 compoundable offences altogether dropped and 5 to be dealt with under alternative framework. The amendment will de-clog the criminal courts and NCLT
  • Now, Indian public companies can list their securities directly in foreign jurisdictions. Private companies which list Non Convertible Debentures on stock exchanges will not be regarded as listed companies:
  • All sectors allowed and opened for Private Companies
  • Govt to announce a new public sector policy- a list of strategic sectors requiring presence of PSEs in public interest will be notified. In strategic sectors, at least 1 enterprise to remain in public sector but private sector to be allowed. In other sectors, PSEs to privatised
  • Borrowing Limiting for States increased to 5%; Centre has decided to increase borrowing limits of states from 3 per cent to 5 per cent of Gross State Domestic Product (GSDP) for 2020-21.
  • Overall stimulus package under the Atmanirbhar (self-reliant) Bharat amounts to Rs 20,97,053: Finance Minister Nirmala Sitharaman [ANI]

Breakup of the 20 Lakh Crore Package [PART WISE]

  • Emergency W/C Facility for Businesses, incl MSMEs — 3,00,000 Cr
  • Subordinate Debt for Stressed MSMEs — 20,000 Cr
  • Fund of Funds for MSMEs — 50,000 Cr
  • EPF Support for Business and Workers — 2800 Cr
  • Reduction in EPF Rates — 6750 Cr
  • Special Liquidity scheme for NBFC/HFC/MFIs — 30,000 Cr
  • Partial credit guarantee Scheme 2.9 for Liabilities of NBFCs/MFIs — 30,000 Cr
  • Liquidity Injection for DISCOMs — 90,000 Cr
  • Reduction in TDS/TCS Rates — 50,000 Cr

TOTAL: 5,94,550 CRORE

  • Free Food Grain supply to migrant workers for 2 months – 3500 Cr
  • Interest Subvention for MUDRA Shishu Loans — 1500 Cr
  • Special Credit Facility to Street Vendors — 5000 Cr
  • Housing CLSS-MIG — 70,000 Cr
  • Additional Emergency Working Capital through NABARD — 30,000 Cr
  • Additional credit through KCC — 2,00,000 Cr

TOTAL: 3,10,000 CRORE

  • Food Micro Enterprises — 10,000 Cr
  • Pradhan Mantri Matsya Sampada Yojana — 20,000 Cr
  • TOP to TOTAL: Operation Greens — 500 Cr
  • Agri Infrastructure Fund — 1,00,000
  • Animal Husbandry Infrastructure Development Fund — 15,000
  • Promotion of Herbal Cultivation — 4,000 Cr
  • Beekeeping Initiative — 500 Cr

TOTAL: 1,50,000 CRORE

  • Viability Gap Funding — 8,100 Cr
  • Additional MGNREGS allocation — 40,000 Cr

TOTAL: 48,100 CRORE

Read below the reliefs offered by the Finance Minister, with the focus being MSMEs:

LIVE UPDATES [14-05-2020] 

  • Focal point: Liquidity, Labour, Law and Land.
  • 6 Major steps for MSMEs
  • Collateral free Automatic Loans upto Rs 3 lakh Crores
  • 100 % credit guarantee
  • Additional Funds for MSME revival
  • Loans to be given till October 31st
  • Rupees 20 Crore for stressed MSMEs
  • 50,000 Crore equity to be infused for viable and potential MSMEs
  • New Definition of MSMEs — Investment can be upto 1 Cr and turnover upto 5 Crore
  • Global tender to be allowed upto Rs 20 Crores
  • Other interventions for MSMEs
  • Rs 2500 crores EPF support for businesses and Workers for 3 months
  • EPF contribution reduced for Business and Workers for 3 months — Rs 6750 Crores
  • Rs 30,000 crores liquidity facility for NBFC/HCs/MFIs
  • Rs 45,000 Crores Partial Credit Guarantee Scheme 2.0 for NBFC
  • Rs 90,000 CR liquidity injection for DISCOMs
  • Relief to contractors
  • Extension of registration and completion date of real estate projects under RERA; No individual applications needed; Suo Moto be done; Registered projects expiring on or after 25th March
  • Rs 50,000 crores Liquidity through TDS/TCS reductions till March 2021
  • Tax filing due date extended to 30th November, 2020
  • Pending refunds to charitable trusts and non-corporate businesses & professions including proprietorship, partnership, LLP and Co-operatives shall be issued immediately.
  • Due date of all income tax return for FY2019-20 extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October, 2020.
  • Date of Assessments getting barred on 30th September, 2020 extended to 31st December, 2020 and those getting barred on 31st March, 2021 will be extended to 30th September, 2021.
  • Period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December, 2020

LIVE UPDATES [15-05-2020]:

  • FOCUS: Migrant Workers, Street vendors, Small Farmer, Self Employed, Traders, etc.
  • 9 Steps will be announced.
  • 14.62 crore person-days of work generated till 13th May 2020
  • 10,000 crore actual expenditure till date
  • National Floor Wage to be introduced
  • Re-skilling of workers
  • Universal minimum wages

Reliefs

  • Free food grain supply to all migrants for next 2 months [For non-card holders: 5 kgs of wheat or rice or 1 kg of chana]; State Governments to implement, Centre to borne costs
  • One Nation One Ration card to be implemented within 3 months
  • Affordable rented accommodation for migrants; Rental Housing Scheme;Migrant Workers / Urban Poor to have Affordable Rental Housing Complexes (ARHC): Government will launch a scheme under
  • Mudra Shishu Loans: Government of India will provide Interest subvention of 2% for prompt  MUDRA– Shishu Loans payees for a period of 12 months; Relief of Rs 1500 cr to MUDRA-Shishu loanees
  • Special Credit facility for Street Vendors: Easy access to credit; Rs 5000 cr Special Credit Facility
  • Middle Income Group with upto 6 to 18 lakh income group: Credit link subsidy scheme for housing to be extended till March 2021; 2.5 lakhs middle income families to benefit during 2020-21
  • To create job opportunities for Tribals /Adivasis-Plans worth Rs 6000 crores to be approved shortly under Compensatory Afforestation Management & Planning Authority (CAMPA) Funds
  • Rs 30,000 Crore additional emergency working capital fund through NABARD
  • Kisan Credit Card: 2 lakh Crore concessional credit for farmers; 2 lakh crore Concessional credit boost to 2.5 crore farmers through KisanCreditCards; Fishermen and Animal Husbandry farmers will also be included in this drive

Live Updates [16-05-2020]

  • Focal Point: Agriculture
  • One lakh Crore for — Strengthening Farming Infrastructure; Cold Storage, Grain Storage, etc.; Funding Agriculture Infrastructure Projects at farm-gate & aggregate points.
  • Rs 10, 000 Crore for boosting local products for Global sale;Vocal for Local with Global outreach; Formalisation of Micro Food Enterprises
  • Rs 20,000 crores for Fishermen through Pradhan Mantri Sampada Yojana
  • 100% vaccination of livestock;National Animal Disease Control Programme launched
  • Animal  Husbandry infrastructure fund — Rs, 15,000 Crores
  • Rs 4000 Crores to promote herbal cultivation in India that aims to cover 10 lakh hectare under herbal cultivation in 2 years; Corridor of medical plants to come up across banks of Ganga
  • Rs 500 Crores for Beekeeping initiatives
  • 500 crore for improving supply chain of fruits, vegetables, etc.;Govt. extends Operation Greens from Tomatoes, Onion and Potatoes to all fruits and vegetables
  • Amendment to Essential Commodities Act
  • Farmers & Farmers getting adequate choice to sell their produce at attractive price: Central Law to be introduced;
  • Law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce attractive price.

LIVE UPDATES [16-05-2020]:

  • Focal Point: Structural Reforms
  • Reforms 8 Sectors: Coal, Minerals, Defence Production, Airspace Management, MRO, Distribution Companies in UTs, Space Sector, Atomic Energy
  • Coal: Commercial Mining of Coal on a revenue sharing basis; Liberalised Entry for people, Incentives for those who produce before the deadline; 50,000 Crore for coal evacuation infrastructure
  • Mining of Minerals: Seamless composite exploration cum mining cum production regime to be introduced; Removal of difference between captive and non captive mines; Mineral index; Rationalisation of stamp duty; 500 mining blocks would be offered through this transparent auction process
  • Restriction on imports of certain weapons;Ordinance factory board to be corporatised; Foreign Direct Investment limit in defence manufacturing under automatic route is being raised from 49% to 74%
  • Civil Aviation :Airspace Management rationalised; 6 more airports to be auctioned; additional investment in 12 airports for world-class facility; Rs 13,000 cr additional investment by private players in 12 airports; Airports Authority of India has awarded 3 airports out of 6 bid for operation & maintenance on Public-Private Partnership (PPP) basis
  • Power Distribution Companies in UTs shall be Privatised in line with tariff reform scheme; A Tariff policy with reforms will be released, including consumer rights, promotion of industry and sustainability of sector
  • Privatisation of distribution in Union Territories – sub-optimal performance of power distribution & supply, power departments/utilities in Union Territories will be privatised
  • Rs 8,100 crore outlay for viability gap funding in social infrastructure, by increasing the quantum from 20% to 30%
  • Liberal Geospatial Policy; Private Sector Participation to be increased; Private players can be allowed to use ISRO’s facilities; Indian private sector will be a co-traveller in India’s space sector journey. Will provide a level-playing field for private companies in satellites, launches & space-based services:
  • Atomic Energy Reforms: Research Atomic Reactor in PPP Mode; Atomic Energy-related reforms; link India’s robust start-up ecosystem to the nuclear sector – Technology Development cum Incubation Centres will be set up for fostering synergy between research facilities and tech entrepreneurs
COVID 19Hot Off The PressNews

Background:

Amidst the Corona crisis, PM announced  a special economic package with a new resolution. This economic package will serve as an important link in the ‘AtmaNirbhar Bharat Abhiyan” (Self Reliant India Campaign)‘.

LIVE UPDATES:

  • FOCUS: Migrant Workers, Street vendors, Small Farmer, Self Employed, Traders, etc.
  • 9 Steps will be announced.
  • 14.62 crore person-days of work generated till 13th May 2020
  • 10,000 crore actual expenditure till date
  • National Floor Wage to be introduced
  • Re-skilling of workers
  • Universal minimum wages

Reliefs

  • Free food grain supply to all migrants for next 2 months [For non-card holders: 5 kgs of wheat or rice or 1 kg of chana]; State Governments to implement, Centre to borne costs
  • One Nation One Ration card to be implemented within 3 months
  • Affordable rented accommodation for migrants; Rental Housing Scheme;Migrant Workers / Urban Poor to have Affordable Rental Housing Complexes (ARHC): Government will launch a scheme under
  • Mudra Shishu Loans: Government of India will provide Interest subvention of 2% for prompt  MUDRA– Shishu Loans payees for a period of 12 months; Relief of Rs 1500 cr to MUDRA-Shishu loanees
  • Special Credit facility for Street Vendors: Easy access to credit; Rs 5000 cr Special Credit Facility
  • Middle Income Group with upto 6 to 18 lakh income group: Credit link subsidy scheme for housing to be extended till March 2021; 2.5 lakhs middle income families to benefit during 2020-21
  • To create job opportunities for Tribals /Adivasis-Plans worth Rs 6000 crores to be approved shortly under Compensatory Afforestation Management & Planning Authority (CAMPA) Funds
  • Rs 30,000 Crore additional emergency working capital fund through NABARD
  • Kisan Credit Card: 2 lakh Crore concessional credit for farmers; 2 lakh crore Concessional credit boost to 2.5 crore farmers through KisanCreditCards; Fishermen and Animal Husbandry farmers will also be included in this drive

Read below the reliefs offered yesterday by the Finance Minister, with the focus being MSMEs:

LIVE UPDATES [14-05-2020] 

  • Focal point: Liquidity, Labour, Law and Land.
  • 6 Major steps for MSMEs
  • Collateral free Automatic Loans upto Rs 3 lakh Crores
  • 100 % credit guarantee
  • Additional Funds for MSME revival
  • Loans to be given till October 31st
  • Rupees 20 Crore for stressed MSMEs
  • 50,000 Crore equity to be infused for viable and potential MSMEs
  • New Definition of MSMEs — Investment can be upto 1 Cr and turnover upto 5 Crore
  • Global tender to be allowed upto Rs 20 Crores
  • Other interventions for MSMEs
  • Rs 2500 crores EPF support for businesses and Workers for 3 months
  • EPF contribution reduced for Business and Workers for 3 months — Rs 6750 Crores
  • Rs 30,000 crores liquidity facility for NBFC/HCs/MFIs
  • Rs 45,000 Crores Partial Credit Guarantee Scheme 2.0 for NBFC
  • Rs 90,000 CR liquidity injection for DISCOMs
  • Relief to contractors
  • Extension of registration and completion date of real estate projects under RERA; No individual applications needed; Suo Moto be done; Registered projects expiring on or after 25th March
  • Rs 50,000 crores Liquidity through TDS/TCS reductions till March 2021
  • Tax filing due date extended to 30th November, 2020
  • Pending refunds to charitable trusts and non-corporate businesses & professions including proprietorship, partnership, LLP and Co-operatives shall be issued immediately.
  • Due date of all income tax return for FY2019-20 extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October, 2020.
  • Date of Assessments getting barred on 30th September, 2020 extended to 31st December, 2020 and those getting barred on 31st March, 2021 will be extended to 30th September, 2021.
  • Period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December, 2020
Business NewsCOVID 19Hot Off The PressNews

Background:

Amidst the Corona crisis, PM announced  a special economic package with a new resolution. This economic package will serve as an important link in the ‘AtmaNirbhar Bharat Abhiyan” (Self Reliant India Campaign)‘.

What the Prime Minister said about the package?

In the recent past economic announcements made by the government related to the Corona crisis, which were the decisions of the Reserve Bank. The economic package that is being announced today, if added, comes to around Rs. 20 lakh crores. This package is about 10 percent of India’s GDP. With this various sections of the country and those linked to economic system will get support and strength of 20 lakh crore rupees. This package will give a new impetus to the development journey of the country in 2020 and a new direction to the Self-reliant India campaign. In order to prove the resolve of a self-reliant India, Land, Labor, Liquidity and Laws all have been emphasized in this package.

This economic package is for our cottage industry, home industry, our small-scale industry, our MSME, which is a source of livelihood for millions of people, which is the strong foundation of our resolve for a self-reliant India. This economic package is for that labourer of the country, for the farmers of the country who are working day and night for the countrymen in every situation, every season. This economic package is for the middle class of our country, which pays taxes honestly and contributes to the development of the country. This economic package is for Indian industries, which are determined to give a boost to the economic potential of India. Starting tomorrow, over the next few days, the Finance Minister will give you detailed information about this economic package inspired by the ‘Self-reliant India campaign’.

First press conference on the decoding Rs 20 Lakh Crore Package held today.

LIVE UPDATES

  • Focal point: Liquidity, Labour, Law and Land.
  • 6 Major steps for MSMEs
  • Collateral free Automatic Loans upto Rs 3 lakh Crores
  • 100 % credit guarantee
  • Additional Funds for MSME revival
  • Loans to be given till October 31st
  • Rupees 20 Crore for stressed MSMEs
  • 50,000 Crore equity to be infused for viable and potential MSMEs
  • New Definition of MSMEs — Investment can be upto 1 Cr and turnover upto 5 Crore
  • Global tender to be allowed upto Rs 20 Crores
  • Other interventions for MSMEs
  • Rs 2500 crores EPF support for businesses and Workers for 3 months
  • EPF contribution reduced for Business and Workers for 3 months — Rs 6750 Crores
  • Rs 30,000 crores liquidity facility for NBFC/HCs/MFIs
  • Rs 45,000 Crores Partial Credit Guarantee Scheme 2.0 for NBFC
  • Rs 90,000 CR liquidity injection for DISCOMs
  • Relief to contractors
  • Extension of registration and completion date of real estate projects under RERA; No individual applications needed; Suo Moto be done; Registered projects expiring on or after 25th March
  • Rs 50,000 crores Liquidity through TDS/TCS reductions till March 2021
  • Tax filing due date extended to 30th November, 2020
  • Pending refunds to charitable trusts and non-corporate businesses & professions including proprietorship, partnership, LLP and Co-operatives shall be issued immediately.
  • Due date of all income tax return for FY2019-20 extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October, 2020.
  • Date of Assessments getting barred on 30th September, 2020 extended to 31st December, 2020 and those getting barred on 31st March, 2021 will be extended to 30th September, 2021.
  • Period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December, 2020