Parliament updates: Companies Act Amendments passed by Lok Sabha

Rajya Sabha discusses flood situation across India, particularly Assam; Lok Sabha passes the Companies Act Amendments

Updated - July 27, 2017 06:45 pm IST

Published - July 27, 2017 11:09 am IST

MoS Home Affairs Kiren Rijiju in Rajya Sabha.

MoS Home Affairs Kiren Rijiju in Rajya Sabha.

Both Houses of Parliament were adjourned for the day on Thursday. Lok Sabha passed the Companies Act Amendments while Rajya Sabha passed the Indian Institute of Information Technology Public Private Partnership (IIIT) Bill.

Live updates

6:20 pm: Lok Sabha adjourned. The IIM Bill to be discussed tomorrow.

6:10 pm: Lok Sabha passes the Companies (Amendment) Bill, 2016.

6:00 pm: Lok Sabha Chair wants to extend the time of the House till the passage of the Bill. Ananth Kumar says the government wants to introduce another Bill. MPs are not very happy. But the time is extended.

Clause by clause voting on amendments continues.

5:50 pm: Rajya Sabha adjourned for the day.

5:46 pm: Lok Sabha Clause by clause voting on amendments is underway. N.K. Premanchadran has moved several amendments. Everything has been rejected so far. The Treasury has also moved several amendments, which have been adopted.

5:32 pm: Rajya Sabha passes IIIT Bill through voice vote.

5:30 pm: IIIT Bill goes for voting in Rajya Sabha.  Companies Bill goes for voting in Lok Sabha.

5:25 pm: Mr. Meghwal says 91 lakh new taxpayers were added after demonetisation. He also says actions are being taken against NSEL, PUCL, Elder Pharma,  Saradha Chitfunds and Rose Valey Chitfunds. A survey of OECD has said 73% have faith in the government. This is a trust-worthy government, he says.

Capital market is in the good health. The sensex has reached heights, he says.

5:15 pm: In Lok Sabha, Mr. Meghwal is replying to questions.  He says the government has taken all necessary steps to proceed against those who are not complying with CSR standards.

In Rajya Sabha , Mr. Pandey is responding to questions raised by members on IIIT Bill. The fees given by students will be used for recurring expendtiture. We have created continuous corpus fund to fund research, he says.

5:00 pm: D. Raja speaks about how the Bill is against reservation and pro-privatisation.  He claims this government is selling the education sector to private players. The Government funds the institute up to 85 per cent, then why are private players allowed to run the show, he asks.

4:45 pm: Prem Das Rai, MP from Sikkim, says such a huge piece of legislation calls for so many amendments to keep in pace with time. He is speaking in favour of the Companies Act amendment in Lok Sabha .

He recalls the minister's assurance given in Parliament that Sikkim government will be consulted before the Bill is implemented. He hopes the minister keeps up with the promise.

He says the promoter or person running the company is taken into task when issue of NPa comes up. But the banks are let off. They must also be included, he says.

4:45 pm: Rajya Sabha is discussing IIIT Bill. Ragesh speaks against privatisation of education. He says the Bill is against reservation. Socially and economically backward cannot be taken admission in these institutions. The fee is exorbitant, he claims.

A small recap on what other MPs spoke.

Vijila Sathyanath said there must be uniform syllabus at school level before taking up reforms in higher education.

Md. Nadimul Haque suggested there must be grievance redressal mechanisams in IIITs.

Naresh Agrawal claims the PPP model is flawed as the proportion is unacceptable. He also question where will the land for setting up new institutions come from?

4:10 pm: N.K. Premachandran thanks the Minister to come up with the Bill taking into consideration the inputs of MPs. He, however, says he needs clarification from the government. The government has not constituted the National Company Law Board Tribunal and National Company Law Board Appellate Tribunal yet even after the Act come into existence in 2015.

The Section 4 of this Bill is likely to be misused for corporate fraud, he says.

There is a disproportionate penalty when compared to the scale of claims. Also there is no provision to make Corporate Social Responsibility binding, he says.

4:00 pm: Lok Sabha continues to discuss Companies Act amendments. Varaprasad Rao, Tirupati MP, suggests cap on managerial remuneration. He is also in favour of creation of more tribunals.

3:55 pm: Rajya Sabha takes up the Indian Institute of Information Technology Public Private Partnership (IIIT) Bill for discussion. The Bill has already been passed by Lok Sabha. MoS for Human Resourses and Development Mahendranath Pandey introduces the Bill.

3:50 pm: The Chair asks the Ministry to study the possibility of forecasting the floods. The government should declare the northeastern floods as national calamity, Bhubaneshwar Kalita, who is in the Chair suggests.

Mr. Raja asks about inter-linking of rivers. The National Waterway Authority has taken up the task. Ken and Betwa are being linked, says Mr. Rijiju.

3:45 pm: Odisha government has done remarkable work in disaster relief. We have released Rs. 809 crores for Odisha from NDRF, he says.

Mr. Rijiju also refutes charges that water was released without informing people in the downstream. While agreeing that some calamities are man made, Mr. Rijiju suggests a larger debate is necessary to discuss disaster management.

Regarding Brahmaputra floods, Mr. Rijiju says desilting is not an effective solution for Himalayan rivers.

Government is fully committed that no one suffers due to calamities. We assure the States that we are there for you whenever required, he says.

3:40 pm: We have released adequate and necessary amount for Assam. There is no amount pending from the Centre, he says.

Whether Assam or Gujarat, we have ensured the quickest possible response, he says. Rejecting accusations that the Centre is selective in disbursing funds, he says the government is not biased to any State.

Whatever the Prime Minister announced was part of State Disaster Relief Fund. I can speak about Chennai floods. How many money we provided and how much money was used? Most States have not used the money we have provided. If that money is used, Centre will provide supplementary funds, he says.

3:30 pm: It is difficult to predict cloudburst. I was personally caught in one of them. Luckily I survived, Mr. Rijiju says.

The United Nations have acknowledged me as a champion in Disaster Relief, he informs the House.

Awareness campaigns have been launched across the country. We have sent a satellite to predict calamities. The response time of NDRF has been reduced to one minute. The team arrive within a minute after a calamity, he says.

3:20 pm: Minister Kiren Rijiju responds. As many as 600 people have lost their lives to floods that began in the North East and spread to rest of India. About 2,25,998 are kept at relief camps and 2,40,504 hectares have been destroyed due to floods.

Calling a disaster as a natural calamity is not enough, Mr. Rijiju. Every State is given the first installment for disaster relief during the first week of April. The second installment is given when a disaster strikes. The inter-ministerial team will decide on additional amount, if needed. So the States get funds earlier, he says.

3:10 pm: Madhusudhan Mistry talks about Gujarat floods in Rajya Sabha . He wants to know how the Rs. 500 crore relief will be distributed?

Viplove Thakur asks if dopplers can be deployed to predict cloudbursts? She also says the Central team often reaches late, they should be sent immediately.

3:05 pm: Bhartruhari Mahtab (BJD) says we have seen a lot of fly-by-night companies. A lot of plantation companies have cropped up but not a single tree was planted. He also takes a dig at the photo where Minister Arjun Ram Meghwal was seen climbing a ladder in search of mobile signal. Do you have a ladder in Delhi too, he asks saying there are issues of call drops in Delhi as well.

The Companies Act has been amendment many times since it came to existence since 1956. Over 200 changes were made in the period of five years. How many more times will you amend the Act? he asks.

3:00 pm: Saugata Roy, in Lok Sabha, talks in favour of the Companies amendment Bill. It has passed the Standing Committee. There is nothing to complain, he says. The Bill will remove various ambiguities, it will be a boon for start-ups, he says.

He says some suggestions of Company Law Committee have not be accepted. The residence requirement for a foreign national has to be removed. We may lose professionals, he says.

2:55 pm Bhubaneshwar Kalia, an MP from Assam says though flood is a regular phenomenon in Assam, it is so devastating this year that it has affected 28 districts.

2:53 pm: Ritabrata Banerjee says Brahmaputra has affected the lives of over 1.2 billion people. It is an international river shared by India, China, Bangladesh and Bhutan. There is only knowledge sharing among countries, there is no information management system among countries, he says. He also pitches for a National Water Commission.

In Western countries like Germany and the Netherlands, there is an effective water management is in place. Are we learning any lessons from them, he asks.

2:50 pm: Vijaisai Reddy says Andhra Pradesh too is facing grim situation in Andhra Pradesh. The Nagavalli and Vamsadhara rivers have swollen in north Coastal Andhra. On the contrary the Rayalaseema is facing drought. The regions have recorded deficit rainfall. The only solution is inter-linking of river. He also asks the government to come up with a package.

2:40 pm: Shiv Pratap Shukla (BJP) supports the government's initiative. "We have dirtied all rivers,polluted waterbodies," he says.

Tiruchi Siva says at a time the north is reeling under flood, the South is facing drought. We don't even have drinking water, he says. The government should seriously consider linking of rivers, he says.

2:37 pm:  Ashok Siddharth (BSP) says it has become a routine to talk about calamities only at the time of calamities but it is not discussed later.  Why can't we use technology to predict calamities so that people can be sent to safe places before the calamity strikes? he asks.

2:35 pm: Vijila Sathyanath suggests government to rejuvenate wet lands which will act as flood cushions. She says at least link the peninsular rivers, so that the excess water that goes to sea from the West meets the demands of East. She goes on to say all inter-state rivers should be nationalised. The Tamil Nadu MP makes the pitch keeping in mind the Cauvery river sharing dispute.

2:30 pm: Subbarami Reddy says Home Ministry, Finance Ministry and the State governments should join hands to come up with a permanent solution. Mere financial assistance won't do, he says.

2:25 pm Ravi Prakash Verma, from Uttar Pradesh laments how water is wasted in floods and on the other hand farmers don't have water for cultivation.

In Lok Sabha , Kirit Somaiya is talking on a debate on Companies amendment bill. He talks about money laundering — how companies converted black money into white by 'abusing' stock trading.

2:20 pm: D. Raja, MP from Tamil Nadu, begins by asking how the National Disaster Management is improved. He suggests rivers should be linked. If Andhra Pradesh can link Godavari and Krishna, why not other rivers? he asks.

The Minister in his reply says the responsibility of disaster relief lies in the hands of States. Two years back, when Chennai was reeling under floods Centre didn't release adequate funds as asked by the Tamil Nadu government. This shouldn't happen in northeast, he warns.

2:15 pm: Next to speak is Dola Sen, West Bengal MP. She says in West Bengal it is man-made floods. She blames Damodar Valley Corporation's discharge of water without informing the State government.

The Centre has failed to upgrade and increase the capacity of reservoirs, she says.

2:10 pm: Rajya Sabha agrees to take up discussion on flood situation across the country. Prasanna Acharya, BJD MP from Odisha, talks about frequent natural calamities creating havoc in Odisha. We faced 17 national calamities in the past one year, he says.

The State government has taken several steps to preempt the situation. The Prime Minister belongs to the whole country. It is good that he granted assistance to Gujarat. He should visit other parts as well, he says.

Mahanadi is the lifeline of Odisha and Chhattisgarh. The six barrages constructed by Chhattisgarh is causing floods in Odisha. It is man-made calamity, he says.

Odisha is yet to receive compensation. We are getting funds after three years. How can a poor state like Odisha manage? he asks.

2:05 pm: In Lok Sabha, Arjun Ram Meghwal, junior minister of Corporate Affairs, introduces the Companies (Amendment) Bill, 2017.

The Bill aims to iron out ambiguities in compliance norms and help in ease of doing business. The Bill was originally tabled last year. It was referred to a Standing Committee headed by Congress MP Veerappa Moily. The government has accepted various suggestions put forward by the committee.

2:00 pm: Both Houses reconvene.

In Rajya Sabha, Assam MP Ritu Bora MP invokes Calling Attention Motion to talks about unprecedented floods in Assam. As many as 83 people have died in the floods. He blames the silting of rivers as the reason behind floods. He accuses the government for not desilting water bodies.

1:06 pm: Rajya Sabha adjourned till 2 pm

12:58 pm Question Hour ends in Rajya Sabha. The House bids farewell to Shantaram Naik, whose term ends. The House will certainly miss Mr. Naik, says Vice President Hamid Ansari.

Mr. Naik raises to speak. He says he is associated with the Parliament for 17 years. He recalled how he raised the statehood of Goa during Zero Hour and how it was eventually granted.

Restore the powers of Parliament, he says. Article 324 is also encroaching the powers of Parliament, he adds.

He thanks the Chairman, Deputy Chairman, Congress President and the House.

12:56 pm Rapolu says private FM channels are more attractive than Prasar Bharti run channels. Even municipal authorities are running FM channels. Is there any guidelines to check the quality of content?

Mr. Rathore says 90 days content are recorded and checked. If there is any violation, it is dealt with.

12:55 pm Lok Sabha adjourned till 2 pm.

12:50 pm Union Minister Rajyavardhan Singh Rathore replies to questions on digitisation.

He says the digitisation has been completed. But there are reports that some distributors are still using cable networks. Actions have been initiated against them. To a question on local cable channels telecasts, he says they are illegal and we encourage local authority to take necessary action.

On radio coverage, the minister says  all India coverage is 52% and the government is planning to increase it to 65%.

12:20 pm In Rajya Sabha, DMK MP Kanimozhi says the government's plans to bring Board examinations for Class V and VIII will only lead to more drop outs, especially among girls in rural areas.

Mr. Javadekar says this is part of continuous evaluation system. It is upto the State to decide if they want to conduct Board examinations in Class V and VIII.

12:15 pm Lok Sabha Speaker continues with Zero Hour. An MP suggests we should boycott Chinese products at a time when the situation is grim in border.

A BJP MP suggest MGNREGA should be linked to agriculture as well. An AIADMK MP uses Zero Hour to oppose NEET. The NEET is against the federal nature, he says asking exemption of Tamil Nadu from NEET.

Congress MPs continue with sloganeering.

12:10 pm Union Parliamentary Affairs Minister Ananth Kumar says the government is willing to discuss every issue. Last week, the opposition wanted a discussion on agrarian crisis. The House discussed it late at night. We are willing to discuss lynching issue too. But the way Congress MPs reacted by throwing paper on the Chair, it is unparliamentary. Congress should apologise for their act, he says.

Opposition MPs protest. Mr. Kumar continues. You are worried about violence? What do you have to say on violence unleashed within the House, he says.

12:03 pm Question Hour ends in Lok Sabha. Zero Hour begins. Mallikharjuna Kharge requests the Speaker to allow discussion on mob lynching. Sudip Bandhopadhyaya (AITC) too joins the issue.

Fifty people have been lynched. We have been asking for a discussion for two weeks, says Mohammad Salim. A 16 year old boy was killed. If we can't discuss this, then what else do we discuss? he asks.

12:03 pm: Gokulakrishnan asks about China issuing staple visa. Ms. Swaraj says the issue is constantly being raised in all bilateral meetings.

12:01 pm What are the steps taken by government to ensure normalcy in Doklam? asks MP.

MoS External Affairs M.J. Akbar says India and China decided that we will continue to ensure people to people contact are not affect.

11:55 am Tiruchi Siva request government to reduce GST on non-AC and AC restaurants. He also asks the government to do away with GST on sanitary napkins.

11:50 am Digvijaya Singh objects to it. He demands the Home Ministry to find out the authenticity of the footage showed by a private media channel.

11:45 am In Rajya Sabha , Shiv Pratap Shukla raises the issue of Samjhauta Express blasts. He accuses the UPA government of "hiding the Pakistan's involvement" and calling it Hindu terror.

Subramanian Swamy associates with him and continues to speak. He says he wants to know if narco test was conducted on the accused. Congress MPs protests.

La Ganesan too associates. What we believed so far, has come true. He claims the blasts was handiwork of SIMI. The Congress coined a new term "Hindu terrorism". They should apologise for it.

11:40 am An MP asks if the government plans to create awareness on not to use mobile phones while driving.

There is a rise of road accidents by four per cent. Over 2.5 lakh people have been killed in road accidents. We are running various awareness programmes. The Motor Vehicles Amendment Bill will address these issues, says Gadkari in Lok Sabha.

11:38 am K.K. Ragesh asks about the three-language formula is CBSE and Kendriya Vidyalayas. Sanskrit is made compulsory instead of regional language. You are bringing up a generation that won't know to read or write the regional language, says Ragesh.

Prakash Javadekar says three-language formula means three Indian languages and it is the choice of students. We have not made any language compulsory.

11:33 am In Lok Sabha, Question Hour is underway. Congress MPs are shouting slogans. They want the Speaker to revoke suspension of six MPs.

Nitin Gadkari is answering questions pertaining to inland waterways.

11:31 am The Chair proceeds with Zero Hour in Rajya Sabha . Vijila Sathyanath takes up proposed privatisation of Salem Steel Plant. Most Tamil Nadu MPs associate with her. 

11:30 am Ambika Soni claims that the minister is not sharing information. We gave the names of sources. She didn't take it seriously, claims Ms. Soni.

I agree with the minister that she may not have evidence. She should at least reveal her sources, says Ms. Soni.

Ms. Swaraj points out to Manmohan Singh, the former Prime Minister. She asks Dr. Singh if sources can be revealed in such secret operations.

 

11:20 am Ms. Swaraj responds. "I was the first person to talk to Harjit Masih. Masih told me they separated Bangladeshis and Indians. They shot all Indians and I survived. I asked him how did you escape? He only repeatedly asked me to make sure he comes back."

I spoke to the brother of an abductee Nishant Singh. He said he spoke to his brother on June 17, when Masih spoke to me on 15th.

Wait for a few more days, we'll tell you why Masih is misleading. You are believing a Masih but not a minister? she retorts.

My sources are a foreign minister and a Head of the State, she says.

11:17 am Let us all wait for some good news, says the Chair. We are also praying for the safe return of children, says Mr. Bajwa. Ms. Swaraj says what do I get by misleading the nation. What will Masih get by misleading? Why don't you reveal your sources? he asks.

Give us proof to show the men are alive. Till then I stand by my comment that government is misleading the nation, Mr. Bajwa says.

11:15 am Mr. Bajwa accused me of misleading the nation. I haven't misled anyone. I have sought help from every nation willing to help us. I have spoken to Iraq government. I have spoken to Turkey, she said.

11:10 am We have rescued over 80,000 stranded Indians from various countries. I am just one tweet away from helping Indians, she says.

Mr. Bajwa wanted me to apologise. But instead of apologising, I want to reiterate that I will not declare them dead till I get credible evidence. Till then I won't stop the search operation, she says.

11:07 am: She also denies saying that the Indians were traced in Badush prison. Gen. V.K. Singh met with a senior Iraqi official in Baghdad. Mr. Singh was told the Indians were lodged in Badush prison in 2016. We informed this to the family of abductees. The official said this was the last time we heard of them.

11:04 am Mr. Bajwa had said that I have mentioned in the House that the Indians are alive. I never made such a claim, she says.

I have no evidence that they are dead or alive. I will accept Harjit Masih's claims only if I get credible evidence, she says.

The House should tell me if I should stop the search or continue to trace them as six sources give optimistic response, Ms. Swaraj.

11:02 am External Affairs Minister Sushma Swaraj seeks permission to respond to questions raised by Partap Singh Bajwa and other members regarding 39 Indians missing in Mosul.

11:00 am Both Houses reconvene. Question Hour proceedings begin in Lok Sabha. Papers are being laid in Rajya Sabha.

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