Report of the Committee for Reforming the Regulatory Environment ...

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modern day trade and commerce. The setting up ofspecial courts or exclusive courts is a necessary but nota sufficient condition for improvement. It will benecessary for the Government of India as also the StateGovernments to examine the content of all laws andrules which impact on the ease of doing business, andcause appropriate changes thereinto reflect the requirements ofmodern day trade and commerce.2.2 Equally important is the needfor Judicial authorities to beappreciative of the need for quickresolution of disputes that areIt will be necessary forthe Government of Indiaas also the StateGovernments to examinethe content of all lawsand rules which impacton the ease of doingbusiness, and causeappropriate changestherein to reflect therequirements of modernday trade and commerce.brought up before them. A case inpoint is the large number of pending cases underSection 138 of the Negotiable Instruments Act. Thesheer volume of such pendency ensures that cases takeyears to be decided when the fact in issue is relativelysimple. A large number of these cases arise from thedishonouring of post-dated cheques as and when they24
are presented for payment. A post-dated cheque is animportant instrument in business and the seeminglycasual manner in which such cheques are not honouredafter they become due tends to reduce the legitimacyof the instrument. As it is, an offence under theNegotiable Instruments Act is complete only when thedrawer of the cheque after being put on noticeregarding the dishonouring of the cheque, refuses tomake good the amount during a period of 15 days. Inmost other countries the offence is complete if acheque is issued without adequate funds to enable itsbeing honoured. It is easy to appreciate that disputes,even after a notice period of a fortnight, will seriouslyobstruct the smooth flow of trade and commerce. It isvery heartening to note that the present Chief Justiceof India in his first week in office has identified thependency of such cases as a major contributor to theoverall backlog of cases in the Indian judicial systemand has resolved to address it expeditiously.25
Page 5: Finally, I wish to place on record
Page 8 and 9: doing business, and cause appropria
Page 10 and 11: 5) Autonomy of regulatory authoriti
Page 12 and 13: 11) System of advance ruling: It ha
Page 14 and 15: Enabling MSMEs15) Setting up a over
Page 16 and 17: 19) Incentivising regulatory reform
Page 18 and 19: and keen to attract both domestic a
Page 20 and 21: unravel the regulatory maze and to
Page 22 and 23: those recommendations in the contex
Page 26 and 27: 2.3 It is imperative that persons i
Page 28 and 29: increasing evidence that the lower
Page 30 and 31: into the need for such an organisat
Page 32 and 33: the administrative Ministry because
Page 34 and 35: appointment is finalised. To appoin
Page 36 and 37: The present practice invariably is
Page 38 and 39: place in the revised regulations. I
Page 40 and 41: hesitant to drop the investigation
Page 42 and 43: e approached by persons who are not
Page 44 and 45: unsuspecting public often leads to
Page 46 and 47: 4.9 Having regard to India's federa
Page 48 and 49: different aspects of the same subje
Page 50 and 51: from a lack of ownership in regard
Page 52 and 53: 4.14 Sunset provisions have been us
Page 54 and 55: new regulation. It is only when the
Page 56 and 57: proposal. One of the alternatives c
Page 58 and 59: would necessitate capacity-building
Page 60 and 61: Chapter FiveEnabling MSMEs5.1 MSMEs
Page 62 and 63: detailed information regarding the
Page 64 and 65: Chapter SixAddressing State Level I
Page 66 and 67: information on the procedural and s
Page 68 and 69: wheel in regard to practices and pr
Page 70 and 71: Chapter SevenAction on the World Ba
Page 72 and 73: usiness. This is a parameter in res
Page 74 and 75:
within the applicable collateral an
Page 76 and 77:
has also been noticed that there ar
Page 78 and 79:
No.11/08/2012-CL.VGovernment of Ind
Page 80 and 81:
(b) Hold wide consultations with al
Page 86 and 87:
Independent Panel Review of the Doi
Page 88 and 89:
• The report relies on a narrow i
Page 90 and 91:
ecause they involve aggregating acr
Page 92 and 93:
cardinal scores as being more infor
Page 94:
10. Improve the report’s communic
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Report of the Committee for Reforming the Regulatory Environment ...

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