Covid-19 Resource Center

Update on functioning of Indian IP offices

To provide relief to law abiding companies and (LLPs) in the wake of COVID 19, the MCA has introduced the Companies Fresh Start Scheme, 2020. The other objective of introducing this scheme is to enable companies to make good of any filing-related defaults, irrespective of duration of default and make a fresh start as a fully compliant entity.

Customs update: Retrospective Issuance of Certificates of Origin under India's Trade Agreements under Covid-19. This is in reference to the preferential tariff rate benefits available to importers under trade agreements. The importers are eligible for such preferential rates basis the 'Certificates of Origin' / 'COO' issued to them by the exporting trade partner. Similarly, countries importing from India under a trade agreement are also issued a COO from the authorized agencies of Indian Customs Authorities.However, amidst the lockdown in India due to Covid -19 pandemic resulting in temporary closures of these agencies, the Government has permitted issuance of COO retrospectively, once the agencies resume office. Further, for the interim period, the customs authorities and other competent authorities have been directed that the eligible imports under preferential treaties are allowed on a retrospective basis subject to the subsequent production of the COO. India shall also reciprocate and honour its preferential trade agreement imports subject to the respective governments also making a formal request or putting up a notice.

Retrospective issuance of Certificates of origin

Bi-monthly Monetary Policy Statement issued by the Reserve Bank of India, providing for moratorium on loans and decrease in Repo Rate & Cash Reserve Ratio. As per the Seventh Bi-monthly Monetary Policy Statement issued by the Reserve Bank of India, all lending institutions have been allowed a moratorium period of 3 months for all term loans outstanding as on March 1, 2020. Further, the Repo Rate under the liquidity adjustment facility (LAF) has been reduced by 75 basis points from 5.15% to 4.40% and the Cash Reserve Ratio of all banks has been slashed by 100 basis points from 4% to 3% of Net Demand and Time Liabilities.

Extension of interim orders and bail orders. Abeyance of eviction, dispossession, and demolition orders.

Extension of interim orders. Abeyance of eviction, dispossession, and demolition orders

Extension of interim orders and bail orders. Abeyance of demolition and eviction orders.

Extension of interim orders and bail orders for one month which are due to expire during lockdown period of 21 days. Deferment of recovery proceedings. Constitution of High-Powered Committee to consider release of prisoners on parole/interim bail.

Extension of interim orders subsisting as on 16.04.2020 and expired, or will expire thereafter.

List of industries allowed to operate during the lockdown

Bangalore Police- pass system. Pursuant to the all India lockdown order, the Bangalore Police implemented the system of issuing passes for exempted "essential services" including IT and ITeS companies. Attached is the relevant Bangalore Police order and the prescribed format in which the application for obtaining the pass need to be prepared and filed.