The law comes into force retrospectively from 19th September 2018. A Gazette Notification to this effect was issued on Wednesday. The Parliament had passed the bill on Tuesday.
The bill seeks to declare the practice of instant Triple Talaq as void and illegal and makes it a cognizable offence. It also provides allowance to women victims and their dependent children. The offence is made compoundable with the permission of the Magistrate at the instance of the married Muslim woman upon whom talaq is pronounced.
President Ram Nath Kovind has also given his assent to the Companies (Amendment) Bill, 2019. Parliament had passed the bill on Tuesday. A Gazette Notification to this effect was issued on Wednesday.
The Bill seeks to amend the Companies Act, 2013. It aims to tighten Corporate Social Responsibility-CSR compliance, transfer certain responsibilities to National Company Law Tribunal and recategorise certain offences as civil offences.
President Ram Nath Kovind has given his assent to the Banning of Unregulated Deposit Schemes Bill 2019. The law comes into force retrospectively from 21st February 2019. Parliament had passed the bill on Monday. A Gazette Notification to this effect was issued on Wednesday.
The bill seeks to provide for a comprehensive mechanism to ban the unregulated deposit schemes other than deposits taken in the ordinary course of businesses and to protect the interest of depositors. It will work as a crackdown on Ponzi schemes and will help protect the interests of poor people and their hard-earned money. Depositors have been given a top priority in the bill.
It provides for attachment of properties or assets and subsequent realisation of assets for repayment to depositors.
The bill also proposes adequate provisions for repayment of deposits in cases where such schemes nonetheless manage to raise deposits illegally.