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Plea In Delhi HC Seeks Financial Assistance For Lawyers; Interest Free Moratorium On Loans/ EMIs [Read Petition]

first_imgNews UpdatesPlea In Delhi HC Seeks Financial Assistance For Lawyers; Interest Free Moratorium On Loans/ EMIs [Read Petition] LIVELAW NEWS NETWORK24 Aug 2020 1:49 AMShare This – xA petition has been filed before the Delhi High Court seeking a direction upon the Delhi Government to provide financial assistance to such Advocates who are enrolled with the Bar Council of Delhi, without any discrimination on the ground of their residential address. The plea also seeks interest free moratorium on loans/ EMIs for such Advocates who are hit by a financial crisis amid…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginA petition has been filed before the Delhi High Court seeking a direction upon the Delhi Government to provide financial assistance to such Advocates who are enrolled with the Bar Council of Delhi, without any discrimination on the ground of their residential address. The plea also seeks interest free moratorium on loans/ EMIs for such Advocates who are hit by a financial crisis amid the lockdown. The petition has been filed by Advocate Sunil Kumar Tiwari, concerned by the plight of Advocates hailing from lower/ middle class families, who are unable to survive or feed their families due to loss of Court work amid the Covid induced lockdown. The Petitioner, represented by Advocate Mukesh Kumar Singh, has submitted that during lockdowns, most Advocates have suffered acute financial crisis and the one time financial help of Rs. 5000/- for indigent advocates offered by the Bar Council of Delhi is insufficient for their survival. It is submitted, “the word ‘life’ as employed by Article 21 takes in its sweep not only the concept of mere physical existence but also all finer values of life including the right to work and right to livelihood. This right is a fundamental right guaranteed to all persons residing in India, citizens and non-citizens alike, right to life including right to livelihood and work as guaranteed by Article 21 is not reduced to a mere paper platitude but is kept alive, vibrant and pulsating so that the country can effectively march towards the a vowed goal of establishment of an egalitarian society.” Further, the Petitioner has urged that when all the means of livelihood has been curtailed by the Government, the Advocates should be exempted from paying their existing EMIs on their various Loans/ Credits Card Payments etc. till the situation becomes normal. He has therefore prayed that a direction be made upon the Respondents to extend the moratorium period for repayment of term Loan/ Credit Cards for another 12 months or until the situation becomes normal. Further, he insists that imposition of interest during the moratorium period defeats the very purpose of permitting moratorium on loans, Credit Cards Payments and etc. Therefore, he has urged the Court to waive the interest completely or charge at savings bank rate of interest for advocates during the moratorium period. Click Here To Download Petition Read Petition Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

EU sets out derivatives rules for no-deal Brexit

first_img“This will allow EU27 operators that currently have no immediately available alternative in the EU27 to fulfil their obligations under EU law,” the paper said.The Commission also said it would temporarily exempt investors clearing derivatives “over the counter” from obligations under its European Market Infrastructures Regulation, to allow them to move from the UK to the EU without added costs or a change of status.“In all sectors of financial services, firms should continue to take all the necessary steps to mitigate risks and ensure that clients continue to be served,” the Commission said.“Firms should actively inform clients about the steps they have taken and how they are implementing them. For their part, clients in the EU of UK firms need to prepare for a scenario in which their provider is no longer subject to EU law.”Investors and advisers have been flagging concerns for some time about the impact of Brexit on the derivatives industry. The Bank of England has estimated that roughly £67trn (€76trn) worth of over-the-counter derivatives could be affected if the UK leaves the EU without a deal.The UK’s Financial Conduct Authority (FCA) last month warned of fragmented markets and liquidity shortfalls if the country exits the EU in March without a withdrawal agreement.Reduced liquidity could push up costs and make it harder to execute large transactions, the FCA said, with firms potentially “unable to trade certain securities” between the UK and the European Economic Area (EEA).“This could lead to a fragmented market as UK and EEA firms would no longer be able to use the same pool of liquidity,” the regulator said. “Over time, this could have a harmful impact on financial services markets more widely, through reduced competition and increased costs for consumers in both the EEA and UK.” The EU has set out a plan to mitigate the risks to the multi-trillion-dollar derivatives market in case the UK fails to ratify its EU withdrawal agreement before 29 March.Derivatives counterparties based in the UK will be able to continue to do business with EU investors for 12 months after Brexit through a “temporary and conditional equivalence decision”, the European Commission said in a paper published yesterday.The measure would allow the European Securities and Markets Authority (ESMA) to continue to treat UK firms as if they were still within the EU.In addition, UK-based security depositories will get a 24-month reprieve as part of the EU’s contingency plan.last_img read more

USCG issues guidance for Simops during LNG bunkering

first_imgLNG World News Staff The United States Coast Guard, through its Office of Operating and Environmental Standards, issued guidance for evaluating simultaneous operations (Simops) during LNG fuel transfer. The policy letter provides guidance to coast guard captains of the port considering safety issues associated with the simultaneous operations during LNG fuel transfer, which are planned to happen at waterfront facilities handling liquefied natural gas.Simultaneous operations include passenger and crew embarkation/debarkation, loading of stores and cargo, discharging waste or loading and unloading materials.Currently, LNG bunkering operations are being performed in several locations in the United States, Port Fourchon, Jacksonville, Seattle-Tacoma.USCG encourages the involved parties to determine in advance whether simultaneous operations during LNG bunkering will occur and to take adequate actions, based on the policy letter recommendations.In addition, the notice recommends the LNG transfer procedures should include provisions and mitigation measures for managing simultaneous operations during LNG transfer.last_img read more

Qatar Airways: Cabin crew can now get pregnant

first_imgQatar airways cabin crewQatar Airways has relaxed its policies and rules that saw cabin crew who would get pregnant be sacked.This is after the airways faced criticism from trade unions and other international organisations for practicing discriminatory labour clauses.The airline’s labour policy stipulated that it could sack female cabin crew employees if they get married or pregnant during the first five years of their employment.But as per the new rules, women who are pregnant are offered temporary ground jobs while staff can get married after notifying the company.The International Labour Organisation (ILO) had criticised Qatar Airways for its treatment of its female cabin crew.An inquiry was set up by the ILO in response to complaints brought forward in June 2014 by the International Transport Workers’ Federation and International Trade Union Confederation, prompted by testimony from serving and former cabin crew.Other policy regulations including the need for close male relatives to pick up women staff from work will continue to remain in place, the airline added.Qatar Airways employs around 9,000 cabin crew, out of which three-quarters are women.Earlier this year, the Gulf carrier was criticised by the International Labour Organisation for its discriminatory polices, especially regarding pregnant women.ILO acknowledged the health risks for pregnant women face when operating as cabin crew but urged the Gulf carrier to put in other policies that will ensure that female staff will retain their jobs.“Protective measures should include action taken to ensure that a woman worker does not lose her job during pregnancy and that maternity is not a source of discrimination in employment and occupation,” a report by ILO said.The committee also noted that the prohibition for women employees to be dropped off or picked up from the company by a man other than their father, brother or husband amounts to “discrimination based on sex.”ILO issued the report following complaints made by the International Trade Union Confederation and the International Transport Workers’ Federation about Qatar Airways’ staff policies.But Qatar Airways has said that the change in employment policies was a result of an internal review and not due to international criticism.last_img read more