{"id":230033,"date":"2020-05-23T14:46:44","date_gmt":"2020-05-23T09:16:44","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=230033"},"modified":"2023-10-03T17:26:34","modified_gmt":"2023-10-03T11:56:34","slug":"pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/","title":{"rendered":"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19"},"content":{"rendered":"<p class=\"p3\" style=\"text-align: justify;\"><span class=\"s1\" style=\"color: #008000;\"><b>Introduction<\/b><\/span><\/p>\n<p class=\"p3\" style=\"text-align: justify;\"><span class=\"s1\">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<span style=\"color: #0000ff;\">[<strong><span style=\"color: #0000ff;\">1<\/span>]<\/strong><\/span> 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 5<\/span><span class=\"s2\"><sup>th<\/sup><\/span><span class=\"s1\"> 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. <\/span><\/p>\n<p class=\"p3\" style=\"text-align: justify;\"><span class=\"s1\">Since Lockdown 1.0 the business owners<span class=\"Apple-converted-space\">\u00a0 <\/span>have been waiting with baited breath, for a financial <span class=\"Apple-converted-space\">\u00a0<\/span>relief package to ease the growing stress especially on the Micro, Small and Medium Enterprises<span class=\"Apple-converted-space\">\u00a0 <\/span>(\u201cMSME\u201d)<strong><span style=\"color: #0000ff;\">[2]<\/span><\/strong>.<b> <\/b>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<span class=\"Apple-converted-space\">\u00a0 <\/span>stability<span class=\"Apple-converted-space\">\u00a0 <\/span>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:<\/span><\/p>\n<p><b><\/b><span class=\"s1\" style=\"color: #008000;\"><b>1. A fresh outlook on the Insolvency and Bankruptcy Code, 2016 <\/b><\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\">The Government of India after taking into account the<span class=\"Apple-converted-space\">\u00a0 <\/span>backlog of pending cases mounting at<span class=\"Apple-converted-space\">\u00a0 <\/span>National Company Law Tribunal (\u201cNCLT\u201d) and the<span class=\"Apple-converted-space\">\u00a0 <\/span>National Company Law Appellate Tribunal (\u201cNCLAT\u201d) have proposed to introduce an Ordinance enunciating as under:<\/span><\/p>\n<ol class=\"ol2\" style=\"text-align: justify;\">\n<li class=\"li4\"><span class=\"s1\"> 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.<\/span><\/li>\n<li class=\"li4\"><span class=\"s1\">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<strong><span style=\"color: #0000ff;\">[3]<\/span><\/strong>.<\/span><\/li>\n<li class=\"li3\"><span class=\"s1\">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.<\/span><\/li>\n<\/ol>\n<p class=\"p6\" style=\"text-align: justify;\"><span class=\"s1\">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 (\u201cIBC\u201d) 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<span class=\"Apple-converted-space\">\u00a0 <\/span>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<span class=\"Apple-converted-space\">\u00a0 <\/span>achieving the objective of the IBC<span style=\"color: #0000ff;\"><strong>[4]<\/strong><\/span>. 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. <\/span><\/p>\n<p class=\"p6\" style=\"text-align: justify;\"><span class=\"s1\">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.<\/span><\/p>\n<p><b><\/b><span class=\"s1\" style=\"color: #008000;\"><b>2. Amendments with reference to Companies Act, 2013<\/b><\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\">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<span style=\"color: #0000ff;\"><strong>[5]<\/strong><\/span> states:<\/span><\/p>\n<blockquote>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\"><b><i>Section 99. Punishment for default in complying with provisions of Sections 96 to 98.&#8211;<\/i><\/b><\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\"><i>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.<\/i><\/span><\/p>\n<\/blockquote>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\">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 (\u201cMCA\u201d)<span class=\"Apple-converted-space\">\u00a0 <\/span>shall adjudicate matters regarding compoundable offences under the Companies Act, 2013<strong><span style=\"color: #0000ff;\">[6]<\/span><\/strong>. 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. <\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\">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.<\/span><\/p>\n<p><b><\/b><span class=\"s1\" style=\"color: #008000;\"><b>3. Merger of PSUs\/PSEs on the horizon?<\/b><\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\">An introduction of private sector companies to conduct business with respect to areas which earlier restricted Public Sector Undertaking (\u201cPSUs\u201d) and Public Sector Enterprises (\u201cPSEs\u201d) 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<strong><span style=\"color: #0000ff;\">[7]<\/span><\/strong>. It was further specified in the press conference held by the<span class=\"Apple-converted-space\">\u00a0 <\/span>Finance Minister that only 4 or less PSUs\/PSEs<span class=\"Apple-converted-space\">\u00a0 <\/span>shall function in strategic sector and the ones having more than 4 shall undergo mergers to form<span class=\"Apple-converted-space\">\u00a0 <\/span>a large scale PSU\/PSE. <\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\">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. <\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\" style=\"color: #008000;\"><b>Conclusion <\/b><\/span><\/p>\n<p class=\"p5\" style=\"text-align: justify;\"><span class=\"s1\">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<strong><span style=\"color: #0000ff;\">[8]<\/span><\/strong>. 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.<\/span><\/p>\n<hr \/>\n<p class=\"p1\"><span style=\"color: #008000;\"><strong><span class=\"s1\">*Senior Associate at Vardharma Chambers and may be reached at vidula@vchambers.in<\/span><\/strong><\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><span class=\"s3\"><span style=\"color: #0000ff;\"><strong>[1]<\/strong> <\/span><a href=\"https:\/\/www.undp.org\/content\/undp\/en\/home\/coronavirus.html\">https:\/\/www.undp.org\/content\/undp\/en\/home\/coronavirus.html<\/a><\/span><\/span><\/p>\n<p><strong><span style=\"color: #0000ff;\">[2]<\/span><\/strong>.<a href=\"https:\/\/msm.gov.in\/know-about-msme\">https:\/\/msm.gov.in\/know-about-msme<\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>[3] <\/strong><\/span><span class=\"s1\"><a href=\"http:\/\/www.scconline.com\/DocumentLink\/86F742km\">Insolvency and Bankruptcy Code, 2016<\/a>\u00a0<\/span><\/p>\n<p><span style=\"color: #0000ff;\"><strong>[4]\u00a0<\/strong><\/span><a href=\"https:\/\/www.financialexpress.com\/economy\/two-years-of-ibc-early-harvest-extremely-successful-recovered-rs-80000-crore-says-arun-jaitley\/1432363\/\">https:\/\/www.financialexpress.com\/economy\/two-years-of-ibc-early-harvest-extremely-successful-recovered-rs-80000-crore-says-arun-jaitley\/1432363\/<\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>[5] <\/strong><\/span><a href=\"http:\/\/www.scconline.com\/DocumentLink\/A5aqjfDv\">Companies Act, 2013<\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>[6]<\/strong><\/span> <a href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/policy\/panel-for-internal-e-adjudication-system-to-take-load-off-nclts\/articleshow\/65568134.cms?from=mdr\">https:\/\/economictimes.indiatimes.com\/news\/economy\/policy\/panel-for-internal-e-adjudication-system-to-take-load-off-nclts\/articleshow\/65568134.cms?from=mdr<\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>[7]\u00a0<\/strong><\/span><a href=\"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:\/\/economictimes.indiatimes.com\/wealth\/personal-finance-news\/the-govt-should-quit-all-businesses-except-utilities-public-monopolies-view\/articleshow\/69699327.cms?from=mdr<\/a><\/p>\n<p><a href=\"https:\/\/www.financialexpress.com\/industry\/new-fuel-retail-rule-easier-entry-norms-may-dent-monopoly-of-psus\/1744560\/\">https:\/\/www.financialexpress.com\/industry\/new-fuel-retail-rule-easier-entry-norms-may-dent-monopoly-of-psus\/1744560\/<\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>[8] <\/strong><a href=\"https:\/\/www.indianeconomy.net\/splclassrooms\/what-is-financial-creditors-andoperational-creditors-under-the-ibc\/\">https:\/\/www.indianeconomy.net\/splclassrooms\/what-is-financial-creditors-andoperational-creditors-under-the-ibc\/<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>by Vidula Mehrotra*<\/p>\n","protected":false},"author":8808,"featured_media":230034,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[42503,1191],"tags":[31714,39924,41323,30361,40154,41558,12521],"class_list":["post-230033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-analysis","category-op-ed","tag-companies-act-2013","tag-covid-19","tag-economic-package","tag-ibc","tag-lockdown","tag-micro-small-and-medium-enterprises","tag-nclt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19\" \/>\n<meta property=\"og:description\" content=\"by Vidula Mehrotra*\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-23T09:16:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-03T11:56:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/\",\"name\":\"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19 | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg\",\"datePublished\":\"2020-05-23T09:16:44+00:00\",\"dateModified\":\"2023-10-03T11:56:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg\",\"width\":1330,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19 | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/","og_locale":"en_US","og_type":"article","og_title":"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19","og_description":"by Vidula Mehrotra*","og_url":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2020-05-23T09:16:44+00:00","article_modified_time":"2023-10-03T11:56:34+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/","url":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/","name":"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19 | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg","datePublished":"2020-05-23T09:16:44+00:00","dateModified":"2023-10-03T11:56:34+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg","width":1330,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/23\/pro-tempore-metamorphosis-of-law-a-step-to-reinvigorate-the-indian-economy-amid-covid-19\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Pro Tempore Metamorphosis of Law: A Step to Reinvigorate the Indian Economy amid COVID-19"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE-1.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":234077,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/17\/rmlnlu-webinar-on-labour-law-reforms-in-india-post-covid-19-era\/","url_meta":{"origin":230033,"position":0},"title":"RMLNLU | Webinar on Labour Law Reforms in India post COVID-19 era","author":"Bhumika Indulia","date":"August 17, 2020","format":false,"excerpt":"1. About the University\u00a0 Dr.Ram Manohar Lohiya National Law University, was established by an Act of Govt. of Uttar Pradesh in 2005,to meet up the new challenges in legal field and to strengthen the vision that was given by the establishment of first National Law School of the country. RMLNLU\u2026","rel":"","context":"In &quot;Conference\/Seminars\/Lectures&quot;","block_context":{"text":"Conference\/Seminars\/Lectures","link":"https:\/\/www.scconline.com\/blog\/post\/category\/lawschoolnews\/conference_seminars_lectures\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/08\/Banner.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/08\/Banner.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/08\/Banner.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/08\/Banner.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/08\/Banner.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":231463,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/06\/27\/dme-ip-university-webinar-on-macroeconomic-implications-of-covid-19-and-the-way-ahead\/","url_meta":{"origin":230033,"position":1},"title":"DME IP University| Webinar on &#8220;Macroeconomic implications of COVID- 19 and the way ahead&#8221;","author":"Bhumika Indulia","date":"June 27, 2020","format":false,"excerpt":"Delhi Metropolitan Education (DME)\u00a0(IP University) Noida, is organising an online panel discussion on\u00a0\u201cMacroeconomic implications of COVID- 19 and the way ahead\"\u00a0which\u00a0is scheduled on Saturday 4th July 2020 between\u00a011:00 am to 12.30 pm. Delhi Metropolitan Education\u00a0is a Premier educational institute, affiliated to Guru Gobind Singh Indraprastha University (GGSIPU). DME\u00a0imparts\u00a0education in the\u2026","rel":"","context":"In &quot;Law School News&quot;","block_context":{"text":"Law School News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/lawschoolnews\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/06\/Webinar_DME.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/06\/Webinar_DME.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/06\/Webinar_DME.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/06\/Webinar_DME.jpeg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":228473,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/18\/rfmlrs-online-essay-competition-on-implications-of-covid-19-on-industry-and-economy-2020-submit-by-may-5\/","url_meta":{"origin":230033,"position":2},"title":"RFMLR&#8217;s Online Essay Competition on Implications of Covid-19 on Industry and Economy, 2020: Submit by May 5","author":"Bhumika Indulia","date":"April 18, 2020","format":false,"excerpt":"Reported by Vijaya Singh","rel":"","context":"In &quot;Law School News&quot;","block_context":{"text":"Law School News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/lawschoolnews\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/02\/Rajiv_Gandhi_National_Universtiy_of_Law-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/02\/Rajiv_Gandhi_National_Universtiy_of_Law-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/02\/Rajiv_Gandhi_National_Universtiy_of_Law-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/02\/Rajiv_Gandhi_National_Universtiy_of_Law-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/02\/Rajiv_Gandhi_National_Universtiy_of_Law-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":228236,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/13\/cec-ecs-to-contribute-to-covid-funding-in-the-form-of-voluntary-reduction-of-30-of-their-basic-salary-from-eci-for-1-year\/","url_meta":{"origin":230033,"position":3},"title":"CEC &#038; ECs to contribute to COVID Funding in the form of voluntary reduction of 30% of their basic salary from ECI for 1 year","author":"Bhumika Indulia","date":"April 13, 2020","format":false,"excerpt":"At present, the country, as the rest of the world, is grappling with COVID-19 pandemic. It is evident that Government along with other agencies is engaged in the mammoth task of controlling the spread of this pandemic and taking various measures to manage and minimize its impact on public health\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/ElectionCommission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/ElectionCommission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/ElectionCommission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/ElectionCommission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/ElectionCommission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":227549,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/25\/due-to-the-outbreak-of-covid-19-pandemic-first-phase-of-census-2021-and-updation-of-npr-postponed-until-further-orders\/","url_meta":{"origin":230033,"position":4},"title":"Due to the outbreak of COVID-19 pandemic, first phase of Census 2021 and updation of NPR postponed until further orders","author":"Bhumika Indulia","date":"March 25, 2020","format":false,"excerpt":"The Census 2021 was scheduled to be conducted in two phases, viz., (a) Phase I i.e. House listing & Housing Census during April-September, 2020 and (b) Phase II\u00a0 i.e. Population Enumeration during 9th\u00a0to 28th February, 2021. The updation of NPR was also proposed to be done along with the Phase\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":364463,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/10\/22\/hpnlu-shimla-national-conference-tax-reforms-in-india-february-2026\/","url_meta":{"origin":230033,"position":5},"title":"Call for Papers | HPNLU Shimla National Conference on &#8220;Tax Reforms in India: Pathways to Economic and Social Justice&#8221; | 27-28 Feb 2026","author":"Editor","date":"October 22, 2025","format":false,"excerpt":"The Centre for Business Law and Economics, HPNLU Shimla, is organizing a National Conference on \u201cTax Reforms in India: Pathways to Economic and Social Justice\u201d on February 27th and 28th, 2026. The event invites academicians, researchers, policymakers, and professionals to discuss India\u2019s evolving tax landscape and the implications of the\u2026","rel":"","context":"In &quot;Call For Papers&quot;","block_context":{"text":"Call For Papers","link":"https:\/\/www.scconline.com\/blog\/post\/category\/lawschoolnews\/callforpapers\/"},"img":{"alt_text":"HPNLU Shimla Tax Reforms Conference 2026","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/10\/HPNLU-Shimla-Tax-Reforms-Conference-2026.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/10\/HPNLU-Shimla-Tax-Reforms-Conference-2026.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/10\/HPNLU-Shimla-Tax-Reforms-Conference-2026.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/10\/HPNLU-Shimla-Tax-Reforms-Conference-2026.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/230033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=230033"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/230033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/230034"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=230033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=230033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=230033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}