What has hitherto held this back is the perception of acute vulnerability by businesses – that even the smallest infraction, no matter how involuntary, can land them in jail. The Jan Vishwas law is meant to assuage such apprehensions. The provision of criminal liability embedded in many laws was an offshoot of a colonial mindset, that persisted even post-independence – viewing private enterprise with suspicion. We are now undoing the shackles of the past and making a brand-new beginning in the right direction.
A total of 183 provisions will be decriminalised in as many as 42 Central Acts administered by 19 ministries and departments. Decriminalisation is proposed to be achieved either through removal of the imprisonment penalty completely or by converting it into a monetary-fine based compounding provision. An attempt is also being made to ensure that the degree of punishment is commensurate with the severity of the offence.
Removal of penal provisions with the imprisonment clause will also be positive news for companies that are presently confronted by the scourge of notices that carry threats of arrests of their key management personnel for the slightest default. Notices to directors ultimately affect the public global image of the company, especially with stringent SEBI listing obligations and disclosure guidelines.
Not just private enterprise, but the logjam of more than 50 million cases in judicial pendency will be the biggest beneficiary of this new dispensation. Currently, criminal consequences prescribed for technical/procedural lapses and minor defaults compel the justice delivery system to be clogged as companies
Denne historien er fra August 26, 2023-utgaven av BW Businessworld.
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Denne historien er fra August 26, 2023-utgaven av BW Businessworld.
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'Committed to helping India achieve carbon neutrality'
R. Purushothaman on how Danfoss India, part of Danish MNC, is supporting the nation's carbon neutrality goals with innovative products
INTELLECTUAL DEPTH & ACTIONABLE INSIGHTS
Anil K. Khandelwal is a transformational leader, who invites readers to rethink leadership as a journey rather than a destination. In The Gym of Leadership, he emphasises that helmsmanship is not a badge of authority but a commitment to creating a positive impact, says Srinath Sridharan
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"MACARONS FOR THE MASSES"
CHANDNI NATH ISRANI, the driving force behind Ladurée's India expansion, redefines luxury in the F&B sector. With four flourishing Ladurée outlets established since 2021, Israni is making iconic French pastries and delicacies accessible to the Indian market. BW Businessworld sits down with the visionary entrepreneur to discuss her journey in building the luxury brand and her strategy for democratising gourmet experiences
NAVIGATING THE PATH TO PROFITABILITY: A STARTUP'S BALANCING ACT
WHEN EVALUATING startup profitability, it’s crucial to break it down into two main components: unit economics and fixed costs. Unit economics refers to the profitability of delivering each singular order, which involves analysing transaction margins against costs incurred, such as delivery and payment gateway fees. This assessment helps gauge whether a business model is sustainable at a micro level.
THE HOLY GRAIL OF PROFITABILITY
Profitability for startups is elusive, often overshadowed by growth and investor expectations. Achieving profitability requires a delicate balance between revenue generation and cost management, with factors like market dynamics and competition playing significant roles
"WE ARE FOCUSED ON BUILDING A RESILIENT AND SELF-SUSTAINING SEMICONDUCTOR ECOSYSTEM"
S.KRISHNAN, Secretary of the Ministry of Electronics and Information Technology, outlines India's ambitious plan to build a resilient and globally competitive semiconductor industry through the India Semiconductor Mission
Shaping the Future of Cyber Risk Management
With its mission to advance cyber risk quantification through the FAIR (Factor Analysis of Information Risk) model, the institute empowers businesses to align cybersecurity with broader objectives using structured, data-driven insights. Managing Director TODD TUCKER discusses how the institute’s methodologies and community-driven approach are reshaping industry standards worldwide, including growing interest in India and Asia Pacific
THE PILLAR OF A RESILIENT DIGITAL FUTURE
The rapid evolution of digital technologies has transformed the world, driving unprecedented connectivity and innovation. Yet, as the digital realm expands, so do vulnerabilities, with cyber threats emerging as critical challenges for businesses, governments and individuals
