19, March 2019 19/03/2019 – Posted in: Press Information Bureau – Tags: , , ,

MoU: IBBI and SEBI

(Ministry of corporate affairs)

 

WHAT

The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) with the Securities and Exchange Board of India (SEBI).

 

The MoU provides for:

(a) sharing of information between the two parties, subject to the limitations imposed by the applicable laws;

(b) sharing of resources available with each other to the extent feasible and legally permissible;

(c) periodic meetings to discuss matters of mutual interest, including regulatory requirements that impact each party’s responsibilities, enforcement cases, research and data analysis, information technology and data sharing, or any other matter that the parties believe would be of interest to each other in fulfilling their respective statutory obligations;

(d) cross-training of staff in order to enhance each party’s understanding of the other’s mission for effective utilisation of collective resources;

(e) capacity building of insolvency professionals and financial creditors;

(f) joint efforts towards enhancing the level of awareness among financial creditors about the importance and necessity of swift insolvency resolution process of various types of borrowers in distress under the provisions of the Code, etc.

 

The Insolvency and Bankruptcy Board of India

It was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code). It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.

 

The Securities and Exchange Board of India

The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992. The Preamble of the Securities and Exchange Board of India describes the basic functions of the Securities and Exchange Board of India as “…to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto”.

Source: PIB

 

Ind-Indo Corpat

(Ministry of Defence)

WHAT

Indonesian Naval Ship KRI Sultan Thaha Syaifuddin and Maritime Patrol Aircraft CN-235 arrived at Port Blair, Andaman & Nicobar Islands, India for the Opening Ceremony of the 33rd edition of the India-Indonesia Coordinated Patrol (IND-INDO CORPAT) to be held from 19 Mar to 04 Apr 2019.

The ship and aircraft from both the countries would undertake patrolling on the respective sides of 236 nautical miles long International Maritime Boundary line.

 

BACKGROUND

India and Indonesia, navies of both countries have been carrying out coordinated patrolling twice year since 2002 near International Maritime Boundary Line.

The exercise make in an effort to keep Indian Ocean region safe and secure for international trade and commercial shipping.

 

SECURITY OF INDIAN OCEAN REGION

Security and Growth of All in the Region (SAGAR), and `Act East policy’ Indian Navy has increasingly deployed to address maritime concerns of the IOR and also been involved in assisting countries in IOR with EEZ Surveillance, Search and Rescue, other capacity -building and capability-enhancement activities.

 

IND-INDO CORPAT

It is a series of bilaterals seek to underscore India’s peaceful presence and solidarity with friendly Maritime neighbours countries toensure good order in the maritime domain, consolidate interoperability and strengthen existing bonds of friendship between India and Indonesia.

Source: PIB

 

 

 

Exercise Mitra shakti-VI

(Ministry of Defence)

 

WHAT

Exercise MITRA SHAKTI is conducted annually as part of military diplomacy and interaction between armies of India & Sri Lanka.

Troops from 1st Battalion the BIHAR Regiment of the Indian Army and Gemunu Watch Battalion of Sri Lankan Army would be jointly undertaking the exercise.

 

BACKGROUND

The edition of exercises was started in 2012, mainly as a response to China’s efforts to increase its influence in South Asia and Indian Ocean region.

 

AIM

  • Build and promote close relations between armies of both the countries.
  • Tactical level operations in an international Counter Insurgency and Counter Terrorist environment under United Nations mandate.