COVID-19 - Impact On Industry and The Economy 24 March 2020

IMPACT ON INDUSTRY AND THE ECONOMY
ACTIONS NEEDED TOSUSTAIN CONTINUITY
Update – 24 March 2020

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Contents
Advocacy and Representations as on 24 March 2020
Advocacy on Voluntary Actions by Industry
Sectoral Recommendations:
1. Ease of Doing Business
2. Logistics
3. Medical Technology
4. Micro, Small and Medium Enterprises
5. Paints
6. Textiles and Apparel
7. Tourism and Hospitality
CII Recommendations and Action Taken as on

23 March 2020
Advocacy and Representations
as on 24 March 2020
Advocacy on Voluntary Actions by Industry

CII has been advocating the following measures to be adopted by the industry:
CII COVID-19 CODE

• CII has developed a Code for its members keeping in mind our responsibilities towards the
society and the CII Code has been shared with all CII Members to be adopted by them.
• The CODE is built on the Fundamental Principle of Responsible Voluntary Action to Honour
our Social Contract and has the following tenets;
1. Protect all contract and daily wage jobs. Industry will make every effort to protect every
blue-collar job and not retrench any contract worker.
2. Explore pay cuts by senior management to meet cost challenges. Utilise the money
towards welfare of families of blue-collar workers.
3. Comply with all health and other official advisories- As responsible corporate citizens
will abide and comply with all official health and government advisories in the interest
of society and the nation.
4. Abide by the social contract with society and ensure welfare and well-being of families
of all work force - will make special efforts to look after our workforce and the families
of the economically weak.
5. Volunteer to work as partners in delivering public service – the coming weeks will
need extra hands and people for all critical functions. We commit to build a cadre of
volunteers for this purpose.
6. Explore ways to help scale up manufacturing of essential goods and equipment needed
to deal with the medical emergency. As true nation builders, we will dedicate our plant
facilities to help scale up manufacture and availability of essential medical requirement
on a no-profit basis.
7. Strive to ensuring business continuity through adaption of digital practices and platforms
to ensure India’s global footprint as economies recover.
8. Commit CSR spends towards building livelihoods for the base of the pyramid.
9. Caring and committing to the wellbeing of fellow citizens to be the guiding principle
for all actions.
CII COVID 19 REHABILITATION AND RELIEF FUND

• CII has announced a CII COVID 19 Rehabilitation and Relief Fund to help supplement GOI’s
stimuli to enable recovery of the MSME sector.
• A separate entity will be created and experts from industry and other domains will be
identified to provide strategic inputs on managing and disbursing the pool fund created.
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Ease of Doing Business

With the widespread outbreak of Coronavirus (COVID -19), nations across the globe are grappling
to counter the threatening impact of the pandemic on the economic and regional stability of their
respective territories. As the confirmed number of novel coronavirus cases is increasing rapidly, it
is the need of the hour that we take all necessary measures to prevent the spread of the virus
further and contain its health impact on the society. It is satisfactory to note that our Central and
various state governments are working round the clock in this direction.
The pandemic has also been affecting the economic and financial conditions worldwide, India
being no exception. There are several evidences that substantiate the fact that COVID-19 has
been impacting the Indian industry and economy adversely, with significant implications on the
sustainability of businesses and employment. The negative sentiment of the economy is perhaps
best captured by the plunge of the stock prices at BSE and NSE in the last few days and also of
the Indian rupee against USD. Some major sectors such as electronics, automobiles, entertainment,
transport, tourism, and exports are in deep trouble due to the disruption in the global supply
chain and routine operations.
In recognition of the need for special measures to minimise the impact of the pandemic on the
industry and economy, the Government of India, along with various state governments, RBI and
SEBI have started taking several measures, which would help in minimising disruption in the
supply chain by way of reduced compliances and increased credit flow. The rapidly changing
situation in the wake of exponential rise in coronavirus cases across states, however, warrants
more of such measures and continuous monitoring of the situation at the ground level.
Against this backdrop, CII identifies some policy / regulatory measures, which would help ease
doing business in the wake of the outbreak of the COVID-19 pandemic and minimise the adverse
effects on the health of the industry and economy.
1. Enhance Validity of licenses / approvals / NoCs

• Many businesses are approaching the expiry of various licences / approvals / NoCs /
clearances, requiring renewals. The government should allow the firms to operate with
the previously granted approvals for a period of next 6 months, especially for sectors
such as automobiles, construction, electronics, among others, which have been affected
adversely. The approvals include certification for boilers, inspection related approvals
under various Labour Acts, Consent to Establish (under Water & Air Act) License,
Consent to Operate (under Water & Air Act) License, Change of Land Use License,
Factories Act License, Shops & Establishment Act License, among others.
• Extend the validity of existing operating licences of critical permissions / licenses /
NOC’s (like trade license, health, excise license, shops & establishment, various NOC,
license for signages, etc.) of retailers, restaurants and shopping centres for an interim
period of minimum 6 months. Most government departments are working with low
headcount and renewal process requires massive paperwork, administrative support,
time and payment of annual fee.
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2. Easy & quick disbursal of pending dues

The working capital of businesses are unduly stressed by the dues to the business pending
with government authorities/departments. Be it accumulated GST balances or farm subsidies
pending with the state governments, quick refund/disbursal of these monies will also boost
liquidity in the system and help businesses sustain this period of dull growth.
3. Provide speedy clearances
Pending approvals of applications relating to sectors, such as pharmaceuticals and chemicals,
industries need to be approved on merits, as this is the best time to start new units or
expand the existing units in India to reduce the dependency on other nations.
4. Extend the Sunset Date of SEZ units for availing Direct Tax benefits on export earnings
The sunset date of 31/03/2020 of SEZ units for availing Direct Tax benefits on export earnings
u/s 10AA of ITA 1961, in accordance to the provisions of SEZ Act 2005 be extended by
a period of 6-12 months.
For the units to begin activities in SEZs, they need to undergo the process of approval,
execute relevant BCLUT, receive permission for authorized services, procure electronic
equipment necessary for operations and ensure associated administrative set-up (including
access permissions for their staff). However, the crucial months for undertaking such tasks,
which would include mandatory documentation and interaction with concerned officials, have
been completely disrupted by the novel coronavirus pandemic throughout the world. This
has resulted in complete halt of business engagements with stakeholders in many parts of
the globe.
5. Relaxation / dispensation of labour law compliances
• Relax compliances in relation to payment of overtime, statutory bonus, maternity benefit/
bonus, provision of crèche facilities, compliance with working hours.
• Relax all labour and employment procedural compliances, like filing of annual / monthly
/ quarterly returns under all labour laws, maintenance of registers, etc. for a certain
time period.
• Relax the norms with respect to payment of USD 25,000 per annum as salary to a
foreign national on employment visa for next 6 months. In addition, automatic visa
extension should be granted to expat employees whose visas are about to expire.
With respect to employers who are unable to continue the employment of a foreign
national, they must endeavor to transfer the foreign national to a group company or
other any department. To enable such transfer, norms pertaining to change in employer
on employment visa should be relaxed.
6. Contribution to PF & ESI funds
In light of the cash flow crunch being faced by the industries, the government should
contribute Provident Fund (PF) and Employee State Insurance (ESI) components of the
salaries of employees for at least 3 months.
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7. Facilitate ease of doing business for MSMEs

• Banks to defer all term liabilities, without levy of penal interest, for a minimum 6
months.
• Routine defaults / delay in retiring LCs, if any, may be allowed with an extension of
3-7 days by banks.
• NPA norms in genuine cases may be extended to 180 days from the present 90 days.
• Ad-hoc limits to an extent of 25% of sanctioned limits may be allowed by banks on
SOS basis, if required by industry to overcome temporary liquidity crunch.
• Delays in discharging social security liabilities may be condoned without any penal
action for next 6 months.
• Larger companies, PSUs and Government departments may be instructed to release
payment of MSME vendors out of turn against some reasonable discount if required
by the said vendor so as to overcome his/her liquidity issues.
• Subsidies to be announced to help companies pay workers.
• The Central bank, along with the commercial banks, needs to look at increasing the
assets of Mudra Bank and other MSME-focused banks.
• Employees State Insurance Corporation (ESIC) to pick up loss of wages of non-working
staff due to close of operations caused by medical COVID-19 emergency instead of
MSMEs having to pay with no work being received.
8. Facilitate trading across borders
• Shortage of box containers is being faced in India. The government should work
expeditiously to address the issue. It may request China to release the held-up containers
in the country and also to the CFS in the country.
• Many traders are facing delays in getting their goods cleared at ports due to which
they have to pay late fees charges. In order to tackle the high cost element of this
situation, the following steps may be undertaken:
 CBIC may consider releasing circular stopping late filing charges of import
documentation to customs.
 Government should also mandate Airports, Ports, Custodian, CFS not to charge
demurrage cost for next 15 days. The demurrage free period should be extended
to 15 day as against presently 48 hours at Airport and 1-3 days at Port.
 To ensure that the global supply chain is not disrupted import, export and custom
clearance activity should be declared as Essential Services and Customs brokers
and Import-export cargo to be incorporated specially in essential list.
• Container freight charges need to be streamlined as they are charging double freight
charges for export from India. Standard norms need to be fixed in consultation with
the respective authorities.
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• Secure videoconferencing could be adopted to virtually ‘inspect’ cargo, where required.

• Ensure free movement of goods in containers through India’s container ports and also
to and from the ports & hinterlands. The Commissioners should be instructed to ensure
smooth and speedy clearances of cargo.
• Facilitate faster Express (Courier) clearances, which handle time-sensitive shipments
and documents. The Express Industry operates largely via Freighters (Cargo aircraft).
Hence these aircrafts can land in the country with valuable imports and also support
the export of goods from India.
• Customs to ensure that people are provided with necessary protective material so that
all their employees work fearlessly.
• PGAs would also need to work closely with Customs to ensure smooth Import and
export clearance. Instructions be issued stating that Customs and PGAs will work with
more vigor in this challenging time.
• Physical examinations of cargo to be restricted only to high risk situations.
• RBI should take out guidelines for non-payment of interest and principal for next 6
months for the shipping sector. Also, if the payments do not happen for next 6 month
the ship owners should not be declared NPA.
9. Ease licensing requirement for production of Sanitizer
• Industries should be allowed to start manufacturing process of sanitizers on urgent
basis. Their application should be processed fast and decision on them be taken within
a week’s time. Currently, it takes around 90 days, on an average, to obtain required
licenses / approvals.
• Ethyl Alcohol and Drug licenses are required for the units manufacturing sanitizer.
Generally, sanitizers are used in hospitals but due to coronavirus now it is used at
various places across our country in homes, offices, different places etc., and there is
huge demand for sanitizers, both in domestic and international markets.
• The States/UTs should provide necessary permissions for storage of Ethyl Alcohol/Extra
Neutral Alcohol/ Ethanol to the licensed sanitizer companies.
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Logistics and Warehousing
The impact of COVID-19, in India, is increasing by the day and the businesses across the country
have started to feel the heat. However, the Supply Chain industry is fully geared up to rise to the
occasion and stand with the Government at this critical hour to show solidarity and to overcome
this crisis.
Support offered by CII

1. Warehouse and Logistics support: CII would like to offer its support to the Government
of India by extending its warehouse space (for stocking of basic food stuff and packaged
products) and logistics support (to reach out to the Kiranas to serve the urban underprivileged)
through its fleet of vehicles at this critical juncture to fight the Global Pandemic. Similarly,
logistics support will be made available for e-commerce and home delivery of goods which
were announced as ‘essential’ by the Government already.
2. Further, for all medical equipment, consumables for health use, spare parts support for
operating this equipment would be given the highest level of priority in storing, distributing
and delivering them as and when required. We shall facilitate this by bringing in our global
best practices and expertise.
3. Employment: Since the situation being ‘business unusual’ for almost all the sectors, we will
commit to the continuity of employment of all the workers, without any job loss / pay cuts
for the next two months.
4. Ecosystem: We are fully aware that for the economy to sustain and pass through this critical
period, it is essential that the entire ecosystem must function collectively. Since many of the
transporters are small time operators and do not have formal access to banking channels,
we will commit that all the payment dues are fully paid to our suppliers, transporters and
vendors. This would mean there is no dearth of working capital for these small-time operators.
Our request
1. Access to vehicle movement: As we commit to support with our supply chain assets for
the movement of essential items related to COVID-19, delivery of basic food stuff like
grains, packaged rice, wheat, etc. will be streamlined with service providers. We request
the Government to allow free movement of such goods, especially across the state borders,
in the event of a complete lockdown. This will ensure speedy movement of essential items
to reach the right place at the right time. Therefore, the entire transport sector may also
deemed to be an essential service.
2. Free Cash flow: In order to be able to pay the workers and our suppliers on time, we request
the Government to direct banks to offer ‘ways and means’ advance to Corporates over and
above the normal working capital. This will be repaid over a period of 12-18 months once
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things return to normal. This will help us to facilitate the payment of salaries as well as
payment to the ecosystem. We request the loan facility to be extended without the backing
of current or fixed assets but by way of low interest credit. Without funding from banks, it
may not be viable to operate, hence urgent action will be a welcome move.
3. Supply Chain itself is a 3rd party service provider as they are mainly contractors to the
larger players, manufacturers and to the Government. Therefore, close coordination and daily
monitoring of the situation will be the need of the hour and it will be good to have a single
point of contact at the Government level to deal with.
4. Also, the State Governments can nominate/appoint 3-4 service providers in each state for
managing the warehouse and transportation operations and can allow them to supervise
the small operators. This will help smoothen the process as the Government can focus on
organising the basic amenities while the logistics support will also be taken care of.
CII will also liaise with each of its members and with other transporters associations to reach
out for support.
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Medical Technology
Amid reports of potential supply chain disruptions for critical medicines and active pharmaceutical
ingredients, it is becoming increasingly evident that novel Covid-19 outbreak may well lead to
supply disruptions in India for some commonly used medical devices like digital thermometers,
infrared thermometers, nebulizers, blood pressure monitors and glucometers.
1. Product related disruptions:

There are reports of Indian medical device manufacturers who procure their primary components
such as electronic parts for medical devices from the Chinese regions of Hangzhou and
Dongguan. With no possibility of replenishment of supplies in the very near future, some
manufacturing lines will slow down or close by end of March 2020 or April 2020.
The medical devices market is heavily import-dependent — at around 70-80%, with imaging
equipment (CT & MRI scanners), cardiac stents, orthopedic implants, glucometers, and critical
care equipment cornering a large share. For consumables and disposables like gloves, crepe
bandages, IV sets, blood bags, catheters and syringes, there are several small to medium
players. Only low to mid-technology medical devices are manufactured in India, and even
for these there’s a high dependence on input raw materials and components from China.
Some key medical devices that are at risk of shortage due to supply chain disruptions are
as under:
Device likely to be affected Impact assessment
1. Infrared thermometers Vital medical device for measuring body temperature.
(temperature gun) The majority of the demand is from PRC itself.
2. Digital thermometers Vital medical device for measuring body temperature.
Demand from PRC, South Korea, Singapore, Hong Kong
and Africa.
3. Three-layer surgical masks & Personal Protective Equipment in high demand,
N 95 masks especially for the use of healthcare workers and affected
population.
4. Nebulizers Major components imported from China. Shortages
expected from April 2020, unless import resumes.
5. Digital Blood Pressure Major components imported from China. Shortages
Measuring Devices expected from April 2020, unless import resumes.
6. Pregnancy detection kits Major components imported from China. Shortages
expected from April 2020, unless import resumes.
7. Other Medical Device raw Disruption in supply likely soon. Surge in pricing by the
materials, components and domestic raw material suppliers will likely worsen the
packaging materials situation.
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The problem is acute for both infrared and digital thermometers with companies and wholesale
distributors fast running out of stock. Infrared or non-contact forehead thermometers used at
public places and airports are fully imported (with no indigenous manufacture). For digital
thermometers, a few companies import electronic components from China, and assembly is
done here.
There is also a critical need to address the potential shortage of personal protective equipment
(PPE) endangering health workers. World Health Organisation (WHO) has called upon industry
and governments to increase manufacturing by 40 per cent to meet rising global demand
of these devices.
In addition to medical device manufacture and import related disruptions, the situation has
further impact on the cargo and logistics movements.
2. Transportation related disruptions:
• Inordinate delays in sea shipments: All lane routings that are via China, Taiwan, Hong
Kong, South Korea and Japan are impacted and several of our members are witnessing
delays in their sea shipments disrupting the supply chain.
• Impact on air shipments: There is also an impact on air shipments as cargo movement
from and/ or through countries that have put flight restrictions with India are getting
delayed. There is a substantial increase in air freight costs in last few weeks which is
further increasing inputs costs of domestic manufacturers.
• Regulatory registration submission related disruptions: Some of our members have
reported specific issues related to disruptions or potential disruptions in their registration
process for medical devices from Chinese manufacturing sites. While these are being
listed here, we have suggested to these members to take these up specifically with the
Central Drugs Standards Control Organization under the Ministry of Health and Family
Welfare for resolution.
• Delays in attestation/ legalization of documents: Some Chinese manufacturers have
submitted Power of Attorney for Indian Embassy attestation in China and are facing
delays.
• Delays in Notified Body Audits from affected countries such as Italy: Few members
had planned Notified Body Audits from Europe in this month however these are delayed
in light of the COVID-19 situation globally and measures need to be taken for resuming
the registration process.
The real impact on industry is likely to be visible only after April 2020. The local manufacturers’
capacities will need to be bolstered and these are likely to become reliable source amid
global shortages.
Recommendations
1. Fast tracked clearance of medical device and medical equipment stocks at ports of entry –
this will provide logistical support and help maintain adequate supplies in this critical time.
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2. Zero percent (0%) duty on import of critical medical devices and equipment and their
components, spares - Focus on personal protection equipment like masks, PP gowns and
critical care equipment such as ventilators, ICU equipment, etc.
3. Inclusion of Medical Devices (including medical electronics) in Interest Subvention Scheme
@ 5%.
4. Provide respite from Bank repayment obligations to medical technology manufacturers and
suppliers.
5. Zero percent (0%) duty on import of finished medical devices, components and raw materials
to prevent shortage and accelerate local production in this critical period.
6. Zero percent (0%) GST on hand sanitizers, masks and other essential personal protection
equipment for use by healthcare practitioners and general public for prevention of disease
spread.
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MSMEs and Digital Payments
Micro, small and medium enterprises MSMEs, which account for 97% of the total employment and
7 crore entities across India, in the context of COVID-19, are facing huge threat amid economic
slowdown and demand contraction. The sector is set to lose further steam as economic activities
have taken a hit, as a result of various steps aimed to control the COVID-19 outbreak such as
travel curbs, closure of malls, theatres and educational institutes, among others. The need of the
hour is to take appropriate measures to ensure safety of human lives while also adopting best
practices to mitigate the economic and business impact of the present pandemic.
Disruptions in cash flows, wage bills and payments, inventory management are some of the major
challenges that the MSME sector is facing currently as they are reliant on a single geography
or a single supplier for key products. The time to bounce back will depend on its sector, as
services sector may bounce back in a month or two, but the manufacturing sector will take 6 –
12 months to come back, that too if the MSME has been a sustainable or profitable unit. (The
time to bounce back for other sectors such as services and manufacturing will depend on the
sustainability and profitability of the MSME sector). Another related concern is the location of
the units of the buyer and the supplier in different states, which may cause significant losses for
the manufacturing and the supplying units.
The Indian Industry recommends a three-pronged strategy in this regard.
First, on the import side, risks to key sectors, arising from supply chain disruptions, must be
minimised. Secondly, on the export side, opportunities must be leveraged in alternative destinations.
Thirdly, excess capacity must be leveraged to keep supply chains running to boost manufacturing.
1. Digital payments need to be prioritized

As has been reported by numerous studies and reports, currency is an easy carrier of
germs and viruses. The WHO has also issued an advisory on the use of contactless and
digital payments. We recommend that in these times of crisis, all retail transactions should
be mandated, and the Government should work with the industry to provide acceptance
incentives through a fund. A 2020 study of coronaviruses, which included SARS and MERS,
showed the microbes can persist on surfaces such as currencies, for as long as nine days.
The digital ecosystem is a strong enabler in ensuring that access to customers, supply chains,
etc. is maintained. However, the ability for SMEs to fully leverage these opportunities is
being hampered by a lack of adequate access to ﬁnancial resources, especially credit and
e-payment tools.
Below are some recommendations to help promote and incentivize usage of digital payments
over cash:
• Extension of incentives for consumers & merchants to adopt digital payments
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 Need to push for greater incentives in everyday spend categories, including a

potential threshold for cash transactions balanced with disincentives for cash use
at discretionary spend categories.
 Transactions above INR 1,500 in value at everyday spend categories like grocery
stores, eating places, apparels etc. represents approximately 25% of total number
of transactions. Mandating all such transactions above INR 1,500 to be made
via digital form will lead to the coverage amongst 70% of transaction volumes
in these categories, where consumers/traders will not need to physically interact.
 Incentivize digital transactions in the MSME supply chain by mandating ~ 50%
of money to be received digitally. Tax on value below this limit also eligible for
GST Subsidy of ~ 0.5% for receiving money digitally.
 Consider certain tax discounts/rebates for businesses which process more than
70% of their transactions/low-value transactions through digital/electronic modes
of payment.
 Run a mass advertising campaign of digital transactions and ecommerce.
• Dis-incentivize cash usage by consumers
 Introduce nominal fee (for a limited period) on cash withdrawal transactions at
ATMs and bank branches.
 Prohibit additional fee levied in the form of convenience fee / service charge /
surcharge etc. including those on Government payments.
 Run a WhatsApp information campaign.
• Encouraging simple, easy to pay digital solutions
 Promote Bharat QR as a single open-loop QR code-based payment mechanism
capable of accepting payments from all modes - Cards, UPI and Wallets and thus
focus on customer and merchant convenience.
 Mandate all banks to immediately issue Bharat QR to all MSME Current Accounts.
 Waive-off 2FA for Bharat QR transactions up to INR 2000 – making it comparable
to contactless transactions of similar amount.
 Ensure that all cards are immediately enabled for contactless and online transactions
through an RBI notification.
2. Better Financing and Working Capital
• NBFCs be given license to issue cards to the SMEs. Cards provide a ready source of
revolving credit, which can be effectively used by SMEs as their means for substituting
working capital requirements and access to interest free period of credit.
• Extend business insurance policies and coverage in the event of a significant business
disruption.
• MSMEs should be made not merely preferred creditors under IBC and NCLT but should
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also get at least 75% of the awaiting settlement cleared within 30-60 days of accepting
the case on merits.
• The moratorium period for the new MSMEs and restructuring in manufacturing should
be extended by six months to ward off project and cost overruns.
• Additional ad-hoc sanction of working capital to the tune of 25% of the current
sanctioned limit is recommended. This will help the Industry to tide over the stress
caused by the inevitable build-up of unsold inventory which is going to accumulate
and allow it to release payments to the vendor eco system, which is almost entirely
built up by MSME Sector.
• Such additional working capital is to be repaid in three equal instalments from 1st
January 2021 to 31st March 2021.
• EMIs and interest on working capital be deferred till things normalize.
• Government to set up a special MSME Factor Fund, to enable MSMEs to discount their
bills to approved retailers in 15 days, and permit retailers to pay in 120 days which
would give MSMEs faster realization, while simultaneously giving retailers increased
credit. Interest charges above 45 days should be to the retailer’s accounts.
3. Filing of GST
• Monthly GST Returns (GSTR 3B) to be filed by 20th of each month should be extended
at least by a month for the period of Feb-March 2020 for MSMEs.
• Increase the threshold limit of GST compliance eligibility of firms to Rs.100 lakhs a
year turnover (from the current Rs.20 lakhs and Rs.40 lakhs) for both SME and service
sectors. This will help reduce the traffic at GST portal at the last date and enable
smooth digital usage for GST implementation.
• Providing a 60 days extension for payment of all taxes including Income Tax, GST, etc.
due in the months of March, April and May, may be considered
• For the year April 2020 to March 2021, either
 Make GST payable after receipt of payment instead of raising invoice or
 Allow some flexibility in the payment of GST dues.
 Allow filing of return GSTR 3B on part payment of GST, as the turnover is already
recorded, and revenue safeguarded.
 Reduce interest rate liability from 18 % to 3% or maximum to 6% on delayed
payment of GST on payment of tax after due dates.
 Reduce interest rate liability from 24% to 6% on availing excess or inadmissible
input tax credit.
 Waive penal provisions for delayed filing of returns for the entire next year.
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3. Welfare related
• The statutory compliance of compensating workers in case of a shutdown can be
handled through the Employee State Insurance Corporation (ESI) as all the relevant
details of workers are already available with ESI.
• Plan to support laid off workers till normal operations can resume.
• Explore Insurance cover or part financing wages for those laid off due to corona virus
(COVID-19) through ESIC or new Government schemes.
• Allow CSR funds to support payment of wages to laid off workers.
• ESIC to pick up loss of wages of non-working staff due to closure of operations caused
by corona outbreak instead of MSMEs having to pay with no work being received.
• CPSUs and Government Departments to ensure pay to all sundry creditors on due
date. This is to be monitored by the Ministry of Finance (MoF) with co-operation of
industries and other Ministries, and a website be set up for suppliers to list their over-
due and upcoming dues from Government citing POs, invoice details, date and amount
of payment due.
4. Suggested concessions for small traders
• All statutory due dates for payment & filing of returns to be postponed till 30th June
and Bank EMIs be also postponed to 30th June.
• Extended time period for GST related filings as are due in the next two quarters.
• Deducting "loss" from income (i.e. loss from 2020 from 2019 tax return) - merchants
will be able to deduct the loss from business activity during the corona virus crisis
from the income achieved in the next five years.
• COVID Loan Program for SMEs (without interest and no fee) – Can be MUDRA loans
with a relaxed tenure for repayment.
5. Others
• Government must provide a 15 days extension of financial year closing from 31st
March 2020 to 15th April 2020.
• Deadlines to be extended without penalty by at least 2 weeks for statutory tax payment
and for filing reports.
• Period of declaring NPAs by MSMEs which is currently 60 days, should be extended.
• Allowing of roll over of term loans, implementation of moratorium on EMIs for industrial
loans and faster tax refunds.
• Setting up of a monitoring portal where MSMEs can list delayed refunds, and MoF can
ensure quick disbursal.
• Monitor payment delays by CPSUs to MSMEs closely through a portal for complaints
and ensure necessary funds are provided and utilized for this purpose.
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• Allow banks to extend existing credit limits for MSMEs by 20% at branch level.
• Provide relief so that credit rating of brands and retailers is not adversely affected due
to delays in repayment of bank loans, interest, EMI, etc.
• No punitive action by NCLT for delays of repayments etc. till 31st December 2020.
• Provide a wage subsidy to MSMEs to the extent of 50%, especially in the manufacturing
sector, for all registered workers for a period of 9 months.
• Government can announce some incentives for all taxpayers of at least 1 month.
• Tax paid in a year can release support to retrenched taxpayers and equal amount
(average of tax paid in past 3 years / 12) on a monthly basis is suggested, till effect
is mitigated.
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Sectoral Recommendations: Paint

1. Requirements around plant shutdown: Request minimum 72 hours’ notice
The shutdown of a paint plant involves the following key activities given the nature of the
product and intermediates and the requirement of the production process.
• Any in-process batch of resin and emulsion needs to be completed and discharged in
storage tanks as these are unstable till the final completion of the reaction. The time
required to complete these would range from 8 hours to 48 hours depending on the
specific product/intermediate that is already under process.
• All in-process paint batches for water-based paint have to be packed in the respective
containers. Keeping the batch idle during shutdown would result in contamination and
bacterial growth which would make the product unusable and also contaminate the
vessels and pipelines. This operation would also require 24 to 48 hours depending on
the overall size of the equipment and stage of production.
• All solvent based paints also need to be packed in appropriate containers and cannot
be left in the in-between stage.
We request a minimum time of 72 hours to ensure that we complete the above activities
and take a safe shutdown.
2. Some very critical safety activities to be allowed even in case of plant shut down
Even after the closure of the production process, certain utilities such as chillers need to be
operational for providing chilling/cooling for Monomer Tank Farm, Solvent Tank Farm. This
is a critical activity as the monomers and solvents are highly explosive raw materials and
require temperature control.
Hence, the following areas would need to be manned even when the production is not being
carried out:
• Utilities section such as chiller/boiler, etc so as to provide chilling/cooling facility to
Monomer and Solvent Tank Farms.
• Electrical section which needs to ensure continuity of electric connection to these critical
tank farms so as to continue working of safety interlocks.
• Appropriate security guards to ensure protection and overall safety across the plant.
3. Safety of the goods which are in transit
The finished goods which have left the manufacturing locations in the last one week by trucks
are in transit on roads in different parts of the states or have reached the destination. These
trucks are stuck, and the drivers are going through the hardship of not being able to return
to their hometown. Further, such stationary trucks are also prone to safety and pilferage risks.
In view of the difficulty faced by the driver community, may we request the government
(centre and state) to ensure and allow unloading of trucks which are in transit to unload
the material at the destination location or at the nearest company depots.
– 16 –
Textiles and Apparel
The Indian Textiles and Apparel industry is facing severe ramifications because of COVID-19. The
overall domestic and export demand has collapsed. Most retail stores across the world have shut
down due to the virus. In turn, brands have put all orders on hold for the foreseeable future.
This could lead to an ~80% demand destruction over the next 30-45 days and a continued
impact for the remainder of the quarter. Such a demand destruction has a catastrophic impact on
companies across the value chain. The immediate crisis is in terms of liquidity. Since all orders
stand cancelled/paused, collections for all manufacturers have come to a halt. Most manufacturers
will be stuck with material payments from work in progress orders. To add to this, textiles and
apparel industry has extremely high fixed costs as it is very labour intensive. Labour costs vary
from 45-55% of the manufacturing cost in the textiles and apparel industry. With a significant
cut in revenues, companies will be forced to shed their fixed costs to survive, which will lead
to large job losses. Statutory payments like interest, GST, etc will further put pressure on the
balance sheets of all companies. Without immediate relief from the government, a large number
of companies could become NPAs.
CII has identified pertinent areas where with Government intervention, the sector will be better
equipped to tide through the current crisis. In the view of the above, following suggestions are
made:
1. To improve liquidity and cash flow:

• Moratorium for repayment of Principal and Interest Amount of term loans, LC and
Non-LC bills falling due for the next 4 quarters.
• Extend zero interest loan equivalent to Government dues pending in the books of
individual textile units that could be adjusted as soon as the Government clears the
dues (TUF subsidy, RoSCTL, MEIS, GST refund, etc.).
• Sanction of 25% ad hoc working capital line for 9 months to be repaid over next 1
year. This should be over and above ABF.
• Relaxation in drawing power by reducing margins and not removing creditors from
calculation of drawing power.
• Release companies from operational liabilities like contract demand for power (e.g.
open access contracts).
• Reduce the bank interest rate on all loans by 3%.
• Provide a wage subsidy of upto 50% to MSMEs for all registered workers for the next
four quarters.
• Working capital to be charged not more than 7% from period starting 1 April – 31
December 2020.
– 17 –
2. To enhance export competitiveness:

• Provide an adhoc reimbursement/ concession of 5-10% against the recently approved
RODET scheme to compensate for the hitherto unreimbursed levies and taxes to the
exporters.
• To make non textile raw materials cheaper, exempt all raw materials, dyes and chemicals,
intermediaries, spares, accessories, etc., from anti-dumping duty and basic customs
duty.
3. To stimulate demand in the domestic market/ Prevent loss of jobs:
• Provide a wage subsidy of up to 50% for all registered workers for the next two
quarters.
• Stimulate domestic demand via pay roll incentives and/or introducing tax guard.
• Rationalisation of GST across the MMF value chain to ensure fibre neutrality and no
accumulation of input tax credit - this will be a big demand booster as also improve
the liquidity.
– 18 –
Tourism and Hospitality
Due to the present COVID-19 induced crisis, the travel & tourism sector is facing a lockdown
situation which is both unique and is the most challenged sector at this stage. With the shut
down and slow down expected to last for a period stretching from February till October, 2020
as the six months off season is also going to commence shortly after a compromised winter and
spring season, the industry will see cash flows only beginning to improve in November 2020 and
perhaps get to normal levels by end of 2020.
It is also expected that there could be a further delay in recovery if the leisure traveller's sentiments
for non-essential travel takes more time. Due to the fact that over 75% of the tourism & hospitality
sector is MSME or near MSME size, we are going to see more than half of the entire industry
go sick with possibly a loss of over 2 crore jobs.
The Indian hotel industry can be divided into branded/organized & unbranded/unorganized.
• There are about 140,000 organized rooms & about 2.6 million independent rooms in India.
That’s a 10%:90% split. Last year, the branded supply was close to 5 billion USD in annual
topline. The unbranded sector’s total revenue was likely to be about US$18 billion. Total
Revenue = 23 billion USD.
• Due to COVID-19, the hotels are likely to lose business from 6.2 billion USD (best case
scenario) to 14.7 billion USD (worst case scenario).
• The adventure tour operators, cruise and eco-tourism contribute INR 12,684 crore. They
are likely to lose INR 3804 crores (best case) to 10781 crores (worst case scenario).
• The expected job loss of the sector is more than 2 crores jobs.
The proposed actionable points will allow businesses to sustain their engagements while
simultaneously allowing the government to adhere to its fiscal responsibilities and mandates for
the fiscal year.
1. A six to nine months’ moratorium on all working capital principle, interest payments on loans
and overdrafts bringing in liquidity allowing for business continuity, without categorizing the
companies as NPAs.
As per RBI, Industry-wise Deployment of Gross Bank Credit is 45,000 crore as of January
2020. When compared to other major industries, this is a very small number, even smaller
than the debt exposure of single companies in some cases. Helping with a moratorium,
interest rate reduction and/or longer repayment schedules for these obligations can aid in
assisting/salvaging the entire industry.
– 19 –
2. Short term interest free or low interest loans for rebuilding business and immediate transmission
to all industry segments viz., hotels, travel agents (online and offline), tour operators and
any other ancillary entity that is supporting the industry on term loans and working capital
loans. Besides, existing overdraft limits can be doubled for the industry and immediate
cash relief be given to avoid mass lay-offs of employees.
• For the branded hotels sector - Given the industry’s overall typical annual revenue
estimates and knowing that at least 35% of these revenues equate to fixed costs
(payroll included), the amount of working capital that could be needed is = 35% *
5 Billion USD = 1.75 billion USD or INR 13,000 crores.
• For travel agents, online travel agents and tour operators, assuming loss of revenue of
30 percent between Jan- March; 80 percent between April-June; 50 percent between
July-September and 25 percent between October-December, the additional working
– 20 –
capital requirement is INR 13, 534 crores.

• For cruise liners, the amount of working capital required could be INR 385 crores.
3. Deferment for twelve months of Statutory Compliances, GST & Advance Tax payments at the
Central Government level and removal of fees for any upcoming licenses/permits renewal/
excise exemption for liquor for the hospitality and travel industry across the states.
• GST Holiday: GST holiday for hotels, tour packages and all of reservation services
rendered by travel agents in line with the tax holiday requested for civil aviation, is
required.
 The estimated GST liability of hotels in India would be INR 3052.5 crores.
 The estimated GST liability for all OTAs in India would be INR 1470 crores.
 The estimated GST liability and Commission of Cruise in India would be INR
300 crores; with addition of port and other liabilities, it would be total INR 385
crores.
 The estimated GST liability of adventure tour operators in India would be INR
1552 crores.
 The estimated GST liability for all travel agents would be INR 1000 crores.
• TCS exemption under GST: Travel agents are liable to collect TCS @ 1% under GST
while remitting payments to airlines and hotels. TCS compliance contributes significantly
towards working capital needs of the OTA sector and would also impact airline and
hospitality sector if a tax holiday under GST is considered for them. Therefore, we request
TCS exemption for OTAs in line with GST holiday granted to airline and hospitality
sector. Estimated TCS liability for entire OTA sector would be INR 460 crores.
 The licenses permits and renewal costs for hotels would be INR 92.50 crores.
 The custom duties/excise fee for hotels would be INR 9.25 crores.
 The fee permission and operational costs would for adventure tour operators would
be INR 120 crores.
 The advance tax liability of cruise would be INR 1.50 crores.
• TDS by Travel agents/ Tour Operators/OTAs under Income Tax: Budget 2020 proposed
a new TDS levy similar to TCS under GST law, whereby travel agents/tour operators/
OTAs are required to withhold 1%/5% TDS while remitting payments to airlines, hotels
etc. Keeping in with the fact that entire industry is heading towards a loss year, the
proposed provision should be rolled back.
• TCS on sale of Overseas Tour Packages: The proposed TCS on sale of overseas packages
in the Finance Bill 2020 is detrimental to tourism business in India. The proposed
TCS will not only increase the cost of packages sold by Indian tour operators, it will
also shift all sales of outbound tourism to overseas suppliers denying the government
all Income tax and GST revenue. Therefore, in order to allow domestic tour operators
– 21 –
a level playing field and a chance to revive their business, it is recommended that
proposed TCS should be rolled back.
• Payments of other statutory liabilities by hotels and travels agents which should be
deferred are as given below:
 TDS under income tax including salary TDS: INR 250 crores
 PF and ESI deposit including employee contribution:
o Hotels: INR 799 crores
o Travel Agents and OTAs: INR 71 crores
o Adventure Eco and Cruise Travel Operators: INR 252 crores
4. Release following amendments on SEIS and EPCG schemes on an urgent basis:
The notified services be incentivized under SEIS at an enhanced rate of 10% based on the
company’s last year submissions of net foreign exchange earnings. The EPCG scheme allows
import of capital goods including spares for pre-production, production and post-production
at zero duty subject to an export obligation of six times of duty saved on capital goods
imported under the scheme, to be fulfilled in six years from authorization issue date. In
view of coronavirus impact, it is requested to consider grant of extension in export obligation
fulfillment period by an additional three years beyond 6 years for all the licenses expiring
during current and next 2 financial years, without attracting any penalty or interest.
• It may be noted that a relaxation of SEIS scheme will not add to the government
liabilities as SEIS income is on FOREX. However, such an incentive will give a positive
message to the industry at large.
5. Financial support like MGNREGA should be extended to entire travel industry in order to
prevent employment loss. A minimum support on this account from the government would
go a long way for businesses to avoid layoffs.
OVERALL TABLE: HOTELS
– 22 –
OVERALL LIST OF CENTRAL COMPLIANCES
Sl No. List of Central Compliances

1 Goods and Services Tax (GST)
2 Advance Tax
3 Provident Fund
4 Income Tax
5 Excise Duty
6 SFIS
7 EPCG
8 Environmental Clearance
9 Weights & Measures
10 Import Licenses
11 Food Safety
Following is a list of licenses / permits / renewals that hotel must incur costs for, on an ongoing
basis:
S.No. Operating Registrations

1 Fire NOC
2 CTO
3 CTE
4 Excise (including Peg Measure, Naukarnama)
5 Trade
6 FSSAI
7 CLRA Registration
8 Labour Cess
9 PPL
10 IPRSL
11 Property tax
12 Police NOC for Star Classification
13 Lift
14 Weight and Measure
15 Star Classification
16 Shops and Establishment
17 Borewell Approval
– 23 –
S.No. Operating Registrations

18 NOC from AAI
19 DG Set Approvals
20 Chief Electrical Inspector of Government & SLD Approval
21 Load Sanction
22 Sanitary License
23 Health NOC
24 Commencement Certificate/ Occupancy Certificate
25 Approved Building Plan
26 Smoking Zone License
27 Trade/ Lodging
28 Trade/ Lodging/ Gram panchayat NOC
29 Police NOC
30 IPRSL/ Image sound music
– 24 –
CII Recommendations and
Action Taken as on
23 March 2020
Regulatory Compliances
CII is continually representing challenges / issues to the Government and Regulators in the wake
of the developing COVID-19 situation. Given the unprecedented times and situation globally, MCA,
SEBI, CCI, IBBI etc have been responsive and have granted certain relaxations from regulatory
compliances to industry. In addition, Hon’ble Courts/ Tribunals across the country have also
taken similar steps. CII has collated few of the key relaxations and measures which have been
introduced by the government1.
Spending CSR funds for COVID-19 is now eligible as CSR activity (MCA Circular attached)
On 23.03.2020, MCA vide its circular allowed companies to use their Corporate Social Responsibility
(CSR) spending on measures to fight COVID-19.
As per the Circular, in view of the spread of novel coronavirus in India and its declaration as
pandemic by the WHO, and decision of Government of India to treat this as notified disaster, it
is clarified that amount spend by companies on activities relating to COVID-19 will be eligible
as CSR activity.
It has further been clarified that funds may be spent for various activities related to COVID-19
relating to promotion of healthcare, including preventive health care and sanitation and disaster
management
Meetings through video conference - Directors not required to be physically present at Board
Meetings
As per rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 read with the
Companies Act, 2013, the following matters cannot be dealt with in any meeting held through
video conferencing or other audio-visual means:
a. approval of annual financial statements
b. approval of the Board’s report
c. approval of the prospectus
d. audit committee meetings for consideration of financial statements; and
e. approvals relating to amalgamations, merger, demerger, acquisition and takeover.
On March 19, 2020, Ministry of Corporate Affairs amended the above rules, as per which, from
the date of the commencement of the Companies (Meetings of Board and its Powers) Amendment
Rules, 2020 till June 30, 2020, meetings on the above-mentioned matters may also be held
through video-conferencing or other audio visual means.
MCA advisory to all companies/LLPs on ‘work from home’

MCA has issued an “Advisory on Preventive measures to contain the spread of COVID19” available
1 This update primarily covers MCA and SEBI announcements.
– 27 –
on the website of the MCA (“Advisory”), stating that all companies/limited liability partnerships
(“LLPs”) are expected and ‘strongly advised’ to put in place an immediate plan to implement the
‘work from home’ policy (described below) as a temporary measure till March 31, 2020 after
which the position will be reviewed by appropriate authorities.
The Advisory details the following:

• implementation of work from home in the headquarters and field offices to the maximum
extent possible, including by conduct of meetings, though video conference or other electronic/
telephonic/computerized means;
• even if essential staff is on duty, staggered timings may be followed with a view to minimize
physical interaction; and
• ‘Dos and Don’ts’ advised by public health authorities are to be strictly followed.
Form CAR to be filed for confirming compliance with COVID-19 measures

In pursuance of the above Advisory, MCA has introduced a simple web form for companies/LLPs
to confirm their readiness to deal with the COVID-19 threat. A web form named CAR (Company
Affirmation of Readiness towards COVID-19) would be required to be filled by an authorised
signatory of companies and LLPs. CAR-2020 has been deployed on March 23, 2020. All companies/
LLPs have been requested to report compliance using the web service w.e.f. 23rd March 2020
onwards at the earliest convenience”. It has further been clarified by MCA on filing Form CAR
2020 that there is no penalty or enforcement related action applicable. This form is deployed as
a purely voluntarily and confidence building measure to assess readiness of companies to deal
with COVID-19 threats in India. Further, there is no fee applicable for filing this form.
MCA disabled 'View Public Documents' facility till March 31

MCA has disabled the facility of viewing public documents till March 31, 2020.
Further, MCA also informed that due to the present total lockdown imposed on transport and
people movement by Government, availability of MCA21 Voice and Ticketing Helpdesk services
have been severely impacted, and the same would not be available till further notice.
SEBI: Extension of timeline for filings by listed companies

On March 19, 2020, SEBI issued a circular (“Circular”) granting relaxations in the timelines in
respect of the below-mentioned requirements under the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“LODR”).
a. Under regulation 7(3) of the LODR, a listed entity is required to submit a certificate relating
to compliance with requirements pertaining to share transfer facility within 1 (one) month of
the end of each half of the financial year. For the financial year ending March 31, 2020,
the period for compliance with this requirement has been extended to May 31, 2020.
– 28 –
b. Under regulation 13(3) of the LODR, a listed entity is required to file a statement of investor
complaints within 21 (twenty-one) days from the end of each quarter. For the quarter ending
March 31, 2020, the period for compliance with this requirement has been extended to
May 15, 2020.
c. Under regulation 24A of the LODR read with circular No CIR/CFD/CMD1/27/2019 dated
February 8, 2019, a listed entity is required to comply with the requirement of filing the
secretarial compliance report within 60 (sixty) days from the end of the financial year. For
the financial year ending March 31, 2020, the period for compliance with this requirement
has been extended to June 30, 2020.
d. Under regulation 27(2) of the LODR, a listed entity is required to submit the corporate
governance report within 15 (fifteen) days from the end of the quarter. For the quarter ending
May 15, 2020.
e. Under regulation 31 of the LODR, a listed entity is required to submit its shareholding
pattern within 21 (twenty-one) days from the end of the quarter. For the quarter ending
May 15, 2020.
f. Under regulation 33 of the LODR, a listed entity is required to submit financial results: (i)
within 45 (forty-five) days from the end of the quarter for quarterly results; and (ii) within
60 (sixty) days from the end of the financial year for annual financial results. For the
quarter/ financial year ending March 31, 2020, the period for compliance with the above
requirements has been extended to June 30, 2020.
In continuation of its earlier circular dated March 19, 2020, SEBI vide circular dated 23.03.2020
has given further relaxations to listed entities which have listed/ propose to list their Non-Convertible
Debentures (NCDs) / Non-convertible Redeemable Preference Shares (NCRPS) / Commercial Papers
due to the COVID-19 virus pandemics. Following are few relaxations in the timelines as notified
by SEBI:
a. Cutoff date for issuance of NCDs/NCRPs/CPs has been extended by 60 days i.e. upto May
31, 2020
b. Extension of timelines for filing under SEBI LODR are extended by 60 days i.e. upto June
30, 2020 for initial disclosure and for annual disclosure, timelines are extended by 45 days
upto June 30, 2020
Relaxation of time gap between two board / audit committee meetings

Under regulations 17(2) and 18(2)(a) of the LODR, the board of directors and audit committee
respectively, are required to meet at least 4 (four) times a year with a maximum time gap of
120 (one hundred twenty) days between any 2 (two) meetings. As per the Circular, the board
of directors and audit committee of a listed entity are exempted from observing the maximum
stipulated time gap between 2 (two) meetings for the meetings held or proposed to be held
between the period of December 1, 2019 and June 30, 2020. However, the board of directors/
– 29 –
audit committee are required to ensure that they meet at least 4 (four) times a year, as stipulated
under regulations 17(2) and 18(2)(a) of the LODR.
SEBI notifies measures to curb ongoing market volatility owing to COVID-19 w.e.f.
23 March 2020
On 23th March, SEBI notifies regulatory measures pursuant to ongoing market volatility which
shall take effect from the beginning of trading on March 23, 2020 and will be in effect for a
period of 1 month:
• It apprised that in light of the continued abnormally high volatility in the market, appropriate
measures were discussed with Stock Exchanges, Clearing Corporations and Depositories, with
the objective of ensuring orderly trading and settlement, effective risk management, price
discovery and maintenance of market integrity;
• It inter alia revised the Market Wide Position Limit (‘MWPL’) to 50% of the existing levels for
stocks in F&O segment meeting the specified criteria, clarified that the said revised MWPL
shall be for the purpose of introducing ban period on fresh positions and not for determining
the enhanced eligibility criteria for derivatives stocks;
• Further, it revised position limits in equity index derivatives (futures and options) in which
Mutual Funds / FPIs / Trading Members (Proprietary) / Clients may take exposure;
• A phased manner has been laid down in which minimum margin rate shall be increased
for stocks with price band of 20% and witnessing an intraday (high-low) price movement
of more than 10% for 3 or more days in last 1 month;
• The dynamic price bands may be flexed only after a cooling-off period of 15 minutes from
the time of meeting the existing criteria specified by stock exchanges for flexing;
• Also, it stated that stock exchanges / clearing corporations will issue necessary instructions
to market participants in this regard, and specifies that SEBI and stock exchanges will
continuously monitor the market developments and review the position to take any further
actions as may be required:
Supreme Court: Supreme Court announced to hear all cases through video
conferencing from 23 March 2020
The Apex Court has announced that it shall hear all the cases through video conferencing from
23 March, to avoid a complete shutdown of the legal system. The judges will sit in the court
room while the advocates will be appearing and make arguments for the cases through a separate
monitoring room in the court premises. It is further notified that the limited number of benches,
that are functioning to hear urgent cases, shall hear them via Video Conferencing.
Only urgent matters to be heard; Only one litigant and lawyers permitted
The Secretary General of the Supreme Court issued a notification on March 13, 2020 directing
– 30 –
that the functioning of the Supreme Court from March 16, 2020 shall be restricted to urgent
matters with such number of benches as may be found appropriate. The lawyers who are going
to act in the matter, i.e. either for arguments or for making oral submissions or to assist will be
permitted in the court room along with 1 (one) litigant only.
High Courts to hear only urgent matters

Various High Courts across the country have issued directives that only urgent matters shall be
heard.
NCLAT: Adjournments for matters listed between March 21, 2020 to April 1,
2020, only urgent matters to be heard, Filing counters closed
On March 20, 2020, the Registrar, National Company Law Appellate Tribunal (“NCLAT”) issued
a directive listing out, inter alia, the following measures:
a. With effect from March 21, 2020 till April 1, 2020 only urgent matters will be listed for
admission. Urgent matters may only be listed upon mentioning of the same before the bench
constituted for hearing urgent matters, which bench which would sit on March 25, 2020
and April 1, 2020.
b. Matters listed for hearing during the aforesaid period will be adjourned and the date of
hearing would be notified later.
c. Interim order/stay order passed in the pending matters would continue till the next date of
hearing.
d. Filing counter will remain closed from March 21, 2020 till April 1, 2020.
NCLT: NCLT announced shutdown till 31 March 2020

(i) All NCLT benches shall remain closed from 23.03.2020 till 31 March 2020 for the purpose
of judicial work;
(ii) As to the unavoidable urgent matters, on application by aggrieved through email to the
Registry, NCLT Chennai, Hon’ble Acting President sitting singly at Chennai will examine and
pass necessary orders on Wednesday and Friday.
(iii) As regard to the IBC, 2016 matters extension of time, approval of resolution plan and
liquidation will not be construed as urgent matters. These matters will be taken up as soon
as regular benches start functioning, until such time such application will not be filed.
Earlier NCLT announced adjournments for matters listed between March 16, 2020
to 27 March 2020, only urgent matters to be heard, Filing counters closed
On March 15, 2020, the Registrar, National Company Law Tribunal (“NCLT”) issued a directive
listing out, inter alia, the following measures:
– 31 –
a. All benches of the NCLT are required to take up only those matters which require urgent
hearing on a request made by the concerned parties.
b. Adjournments would be granted on all matters other than those specified above from March
16, 2020 to March 27, 2020 for which presence of counsels, and parties was not required.
c. All counsels were advised to restrict their presence only to the extent required.
On March 19, 2020, the Registrar of NCLT also issued a notice directing the closure of the filing
counters of all the NCLT benches till March 27, 2020. If there is a ‘limitation issue’, matters may
be filed online at the Delhi, Mumbai, Hyderabad, Amaravati and Jaipur benches, hard copies of
which could be filed upon reopening of the filing counters. Other than matters which are likely to
be hit by limitation, it has been directed that filings may be postponed until the filing counters
were re-opened. For NCLT benches other than Delhi, Mumbai, Hyderabad, Amaravati and Jaipur,
applications in matters which are possibly hit by a limitation issue may be filed (without annexures)
by way of emails to the Registrars of the respective benches.
SAT: Security Appellate Tribunal to remain closed till 31st March

As per the notification of SAT dated 23.03.2020, since the Government has strictly enforced the
lockdown and in view of the closure of public transport, the Tribunal shall remain closed till 31
March 2020.
The matters listed during this period will now be listed in April. The Tribunal and Office of Registry
shall function from 01st April 2020 until further order. In case of urgent matters, parties may
contact the Registrar who in turn will place the matter before the Hon’ble Presiding Officers/
members for appropriate orders.
CCI: Adjourns all matters listed for hearing till March 31 due to coronavirus
On 23.03.2020, CCI has vide its notice announced that following shall remain suspended until
31st March, 2020
a) All filings in relation to Section 3 and Section 4 of the Competition Act, 2002
b) All notifications in relation to combination under Section 6 and 20 of the Act;
c) All other filings, submissions and proceedings under the Act and regulations made thereunder,
including those before the Director General and
d) Pre-filing Consultation
Earlier, CCI vide its Circular dated 17th March 2020, has adjourned matters listed from hearing
(excluding urgent matters, if any) till March 31, 2020.
The Impact of COVID-19 on Contractual Obligations: Force Majeure

On 19th February 2020, Ministry of finance vide its Office Memorandum clarified as follows:
– 32 –
“A doubt has arisen if the disruption of the supply chains due to spread of corona virus in China
or any other country will be covered in Force Majeure Clause (FMC). In this regard it is clarified
that it should be considered as a case of natural calamity and FMC may be invoked, wherever
considered appropriate, following the due procedure.”
Given the supply chain disruption caused by the Covid-19 pandemic, performances under many
contracts will be delayed, interrupted, or even cancelled. Companies may not be able to perform
their obligations under their customer agreements because of their suppliers’ non-performance.
Taking the base of above office memorandum, companies may be suggested to expressly include
Force Majeure clause in their contracts to include extraordinary events or circumstances beyond
the control of parties.
Extension of Limitation
The Supreme Court has taken suo motu cognizance of the situation and resultant difficulties that
may be faced by litigants across the country in filing their petitions/applications/suits/ appeals/all
other proceedings within the period of limitation prescribed under the general law of limitation or
under Special Laws (both Central and/or State).
To obviate difficulties and to ensure that lawyers/litigants do not have to come physically to file
such proceedings in respective Courts/Tribunals across the country including the Supreme Court, it
has been ordered that a period of limitation in all such proceedings, irrespective of the limitation
prescribed under the general law or Special Laws whether condonable or not shall stand extended
w.e.f. 15th March 2020 till further order/s to be passed by this Court in present proceedings.
– 33 –
COVID-19 Impact on Industry and Economy

Action Taken by Government and Regulators against our recommendations
Fiscal measures
Issues and Recommendation Government / Regulators Partial or Fully accepted
Announcements
1 Consider a strong fiscal
stimulus to the extent of 1%
of GDP amounting to Rs 2
lakh crores to be given in the
hand of the needy citizens.
Specifically, following measures
are suggested:
(i). Transfer Rs 5,000 to
the people (above 18 yrs)
with income less than Rs 5
lakhs per annum. Potential
beneficiaries: 40 crore
(ii). For more vulnerable
persons above 60 yrs, it can be
raised to Rs 10,000. Potential
beneficiaries: 20 crore
2. Distribute one month’s ration to
those below poverty line and to
daily wage earners using food
stocks available with FCI.
3. Government to clear and pay
dues of the private sector,
whatever the additional cost.
4. Tax related impetus is also
needed in the form of following
measures:
(i). Abolish long-term capital
gains tax of 10%.
(ii). Tax on dividends to be
taxed at an overall rate of 25%
at one point.
– 34 –
5. Waive off taxes for the most

distressed sectors such as
Civil Aviation, Hotels, SMEs,
Real Estate, Commercial
infrastructure.
In addition, allow a grace
period of 30-60 days for utility,
statutory and GST payments for
affected areas and industries.
6. Industry liquidity is stuck due
to GST payments on raising
of invoices. To circumvent this
GST should be made payable
on collection of proceeds
instead of raising of invoices.
7. Pressing need for leveraging As per a notification of MCA Fully accepted
on the pooled financial (dated 23rd March), the
resources of the corporate spending of CSR funds for
sector to fight Covid-19. In this Covid-19 are eligible under
regard, following measures are CSR activity.
suggested:
(i). Ear mark the spending done
on Covid-19 mitigation as CSR
spending of the corporates.
(ii). Allow companies to
give advance CSR funds of
next two years allocation in
Prime Minister Relief Fund to
support expenses for combating
Covid-19.
8. The global clampdowns on
travel and the proposed
amendment in Section 6 of
the Income-Tax Act announced
in the Budget, has lent a great
deal of uncertainty for NRIs/
OCIs. In wake of this, the
following is suggested:
Postpone the provisions relating
to the rules applicable for the
eligibility of NRIs and OCIs
under the Income-Tax Act by one
financial year and consequently
one assessment year.
– 35 –
Direct tax measures

Announcements
1. The time-limit for settling the Last date for availing ‘Vivad Fully accepted
disputes by payment of 100% se Vishwas’ Scheme has been
of disputed tax, should be extended to 30th June 2020.
extended to 15th May 2020. Earlier there was an additional
charge of 10% for availing
the scheme between 1st April
2020 to 30th June 2020.
Now there would be no such
additional charge.
Indirect tax measures
Announcements
1 Extend the last date for Last date for filing March, April Fully accepted
filing March, April and May and May 2020 GST Returns
2020 GST Returns (including (including composition returns)
composition returns) to be extended to 30th June 2020.
extended to 30th June 2020. Different staggering dates will
be applicable in the same way,
for different regions.
2. For companies having less For companies having less Fully accepted
than Rs 5 crore turnover: No than Rs 5 crore turnover: No
interest, No late fee, No penalty interest, No late fee, No penalty
to be charged. will be charged.
3. For companies having turnover For companies having turnover Partially accepted
greater than Rs 5 crore: No greater than Rs 5 crore: No
Penalty or Late fee, No Interest Penalty or Late fee. No Interest
to be charged. for 15 days but, Interest of
9%, post that.
4. Sabka Vishwas Scheme for Payment under Sabka Vishwas Partially accepted
Indirect tax to be extended to Scheme for Indirect tax
30th June 2020. extended to 30th June 2020.
5. Customs Clearance to operate During lockdown as well, Fully accepted
24x7 as an essential service, Customs Clearance to operate
till 30th June 2020. 24x7 as an essential service,
till 30th June 2020.
– 36 –
Monetary measures
Issues and Recommendations Government / Regulators Partial or Fully accepted
Announcements
1. Reserve Bank of India also has
a critical role to play in ensuring
provision of adequate liquidity.
In this regard, the following
measures are suggested:
(i). Immediate reduction in repo
rate by a minimum 50 bps.
(ii). Reduce Cash Reserve Ratio
by 50 basis points.
2. Change definition of NPA
recognition from 90 days to
180 days till September 30.
3 Corporates are facing severe
cash flow issues, to tide over
them, the following measures
are recommended:
(i). Announce a blanket
moratorium on debt repayments
for sixty days months. This will
help the corporates to tide over
their immediate cash flow issues.
4. The lending norms of banks
should be relaxed, so that
corporates can access greater
line of credit for working
capital. In this regard, following
(i). Relax Aggregate Sanctioned
Credit Limit (ASCL) norms for
corporates/banks for FY 20
till further notice or exclusion
of up to 25% of incremental
borrowing from banking sector
in ASCL computation.
– 37 –
(ii). Increase Drawing Power

(DP) – by (i) asking banks
to take weightage of 1.5X for
current assets instead of 1.0X
or (ii) asking banks to remove
the margin of 25% for a period
of 6 months to a year in the
DP calculations.
(iii). Direct banks to look
at a limited window of next
6 months for GCP (General
Corporate Purpose) loans
limited to maximum of say 15%
of existing credit limits as an
addendum to the current credit
limits as of end December
2019.
Sector: Pharmaceuticals
Announcements
1. High dependence on imported
APIs from China. To circumvent
this, we suggest the following:
Create large API parks with
benefits like soft loans at
4.5% interest rates (equivalent
to China), Tax holiday for 20
years, Capex loans, etc.
2 Large imports of intermediates
of bulk drugs from China.
Hence, we suggest:
Provision of fiscal incentives
given to APIs to be extended
to intermediates too.
3 Facilitate ease of setting up of
API parks. To achieve this, we
suggest the following:
(i). Assistance in single
window clearance policy with
preapproved EC and other
faster regulatory clearances to
the whole API parks.
(ii). Provision of subsidy for
setting up of CETP.
– 38 –
4. Pr e f e r e n c e f o r i m p o r t e d
APIs due to significant cost
differential. In order to mitigate
this, we suggest the following:
(i). Give preference to
formulations produced by
indigenous API & intermediates
in govt procurements.
(ii). Take these formulations out
of price control for five years to
trigger new investments.
5. Lack of R&D/innovation to
develop APIs/intermediates
indigenously. To circumvent
this problem, we suggest the
following:
(i). Give incentives such as
getting at-least 300% tax
advantage for incurring
expenditure on R&D & capex
on developing new products.
(ii). Facilitate stronger industry-
academia relations for
developing new technologies.
6. High cost of exporting APIs &
Intermediates due to cascading
effect of local taxes & duties.
Hence, we suggest the following
measures:
(i). Extend reimbursement to
the tune of 5% of exports
turnover under Reimbursement
of Duties and Taxes for Export
Promotion (RoDTEP).
(ii). Extend EPCG type scheme
to technology up-gradation &
EHS related up-gradation.
– 39 –
Sector: Tourism and Hospitality

Announcements
1 Lockdown was exacerbated
the stress in terms of expected
rise in revenues and decline in
liquidity. Hence, we suggest:
Declaring a six to nine months’
moratorium on all working
capital principle, interest
payments on loans and
overdrafts, without classifying
them as NPAs
2 Availability of adequate working
capital is a challenge for the
sector. In wake of this, we
suggest the following measures:
(i). Deferment of GST &
Advance Tax payments.
(ii). Removal fees for any
upcoming licenses/permits
renewal/ Excise exemption for
liquor.
(iii). Refund GST for any
cancelled MICE events.
3 High Heat-Light-Power (HLP)
to the tune of average 25%
of industrial costs. Hence, we
suggest:
Reduction of HLP costs by
50%.
4. Flight cancellation requests
have gone up by manifolds.
Hence, we suggest:
Issue of advisory to airlines
to not levy cancellation fees
and issue full refunds or issue
credit notes.
– 40 –
5. The proposed TCS ruling will

shift all sales of outbound
tourism to overseas suppliers
denying the government of
all GST revenue. Hence, we
suggest the following:
(i). Defer the proposed TCS on
travel in Finance Bill 2020.
(ii). Open a sectorial
conversation on the merits
and demerits of the law.
6. There is pressing need for
extending short-term interest
free/low interest loans to the
sector. Hence, we suggest:
Double the overdraft facility
for the industry and provide
immediate cash relief to avoid
mass lay-offs.
7. Due to high rates for SFSP
(Standard Fire & Special Perils)
fixed by the IIBI, insurance
costs for buildings have
increased. Hence, we suggest:
Provide some relief for the same
in the current circumstances.
8. Significant job losses expected
in the wake of Covid-19
outbreak.
Extend the financial support
under MGNREGA to the to
entire travel industry.
9. Release following amendments
on SEIS and EPCG schemes on
an urgent basis:
(i). Incentivize notified services
under SEIS at an enhanced
rate of 10%.
– 41 –
(ii). Extend export obligation

fulfillment period by an
additional three years beyond
6 years for all the licenses
expiring during current and
next 2 financial years, without
attracting any penalty or
interest.
Sector: Aviation
Announcements
1. The sector is reeling under
heavy losses in the present
scenario. Hence, we suggest:
Bring ATF under GST to enable
full input tax credit on all goods
& services.
2. VAT on ATF by State Government
currently ranges from 0% to 30%
in India. Hence, we suggest:
Rationalization of VAT across
states upto 4% as against
different VAT rates prevailing
at each state.
3. Grant 100% waiver on existing
ANS charges for the duration
of COVID-19 (min 6 months).
4. The aircrafts continue to pay
parking and housing charges
even in events of forced
grounding. To reduce their
financial liability, following
(i). Grant 100% waiver of
parking and housing charges
for a 6-month period.
(ii). Grant substantial rebates in
landing charges for a 6-month
period.
(iii). AAI to rework their
contractual obligations with
private airport operators for a
temporary period of six months.
– 42 –
5. Reconsider the bank guarantees

and security deposits placed by
airlines at all airports across
India. This will help to provide
immediate liquidity.
6. The costs incurred by airlines is
substantially impacted by fuel
costs and volatility in exchange
rate. In order to mitigate this,
we suggest:
Asking OMCs to extend
unsecured interest free credit
terms to airlines.
Sector: Healthcare
Announcements
1. There is a pressing requirement
for additional resources in the
healthcare sector to manage
the current crisis. Following
two measures suggested:
(i). Identify / designate a hospital
as the “COVID HOSPITAL” for
testing and isolation of patients
in larger cities.
(ii). In smaller cities and towns,
District Hospitals could be
designated as the “COVID
HOSPITAL”
2. Encourage widescale adoption
for E ICU/Teleconsultations.
CII already has the necessary
control centre and backend
systems for this E-ICU and
will be happy to share the
know-how.
– 43 –
Sector: Medical Technology

Issue and Recommendations Government / Regulators Partial or Fully accepted
Announcements
1. Fast tracked clearance of
medical device and medical
equipment stocks at ports
of entry – this will provide
logistical support and help
maintain adequate supplies in
this critical time.
2. Levy zero percent (0%) duty
on import of critical medical
devices and equipments and
their components, spares.
3. Inclusion of Medical Devices
(including medical electronics)
in Interest Subvention Scheme
@ 5%.
4. Provide respite from Bank
repayment obligations
to medical technology
manufacturers and suppliers.
5. Levy zero percent (0%) duty
on import of finished medical
devices, components and raw
materials to prevent shortage
and accelerate local production
in this critical period.
6. Levy zero percent (0%) GST
on Hand Sanitizers, Masks
and other essential personal
protection equipment for use
by healthcare practitioners and
general public for prevention of
disease spread
– 44 –
Sector: MSME
Announcements
1. The sector is likely to face
immense pressure in wage
payments.
Create a corpus for supporting
MSMEs to tide over the crisis
for wage payable during the
shutdown period.
2. To overcome the Cash Flow
and Working Capital challenges
the government may consider
the following:
(i). Defer all term liabilities by
banks without levy of penal
interest for minimum 6 months.
(ii). Extend NPA norms in
genuine cases 180 days from
present 90 days.
(iii). Allow routine defaults /
delay in retiring LCs, if any,
with an extension of 3-7 days
by banks.
(iv). No penal action for delays
in discharging social security
liabilities for next 6 months.
(v). Allow ad-hoc limits to an
extent of 25% of sanctioned
limits by banks on SOS basis.
(vi). Release payment of MSME
vendors out of turn against
some reasonable discount
if required by the PSUs,
govt departments and large
companies.
(vii). GST Council to allow
deferment of GST deposit by
MSMEs with minimum one-
month lag.
– 45 –
Sector: E-Commerce
Announcements
1. E-commerce sector is playing
and will continue to play
a crucial role over the next
few weeks, given its role
in providing buyers doorstep
access to daily necessities.
Hence, it is recommended that:
E-commerce shipments and
deliveries be treated as an
essential activity, which may
be exempted from any travel/
transport restrictions.
Sector: Food processing
Announcements
1. In th e present times o f
lockdowns and quarantines,
the supply of consumer items
in the markets need to be
secured. Hence, our ask is the
following:
(i). Exempt any executive order
or section 144 restrictions for
the manufacturing facilities and
food delivery services under an
essential business exemption.
(ii). Keep retail and wholesale
stores selling essential /basic
commodities and fresh items
outside the purview of these
executive orders of lockdown.
– 46 –
Sector: IT & ITeS

Announcements
1. In order to ensure that the IT-
ITeS industry is able to provide
continuous support services to
sectors such as government,
healthcare & insurance etc,
following measures are
suggested:
(i). Permit at-least 50% of
the personnel to work from
office for whom work for home
cannot be enabled.
( i i ) . Pr o v i d e r e a s o n a b l e
timeframe of say 5-7 days to
transition all other personnel
to work from home.
Sector: Retail
Announcements
1. Retail sector runs the risk of
mounting financial losses due
to closures. To mitigate the
problems, following measures
are suggested:
(i). Allow a moratorium period
in repayment of bank loans,
interest, EMI, etc. without levy
of any penalties /penal interest.
(ii). Permit one-time loan
restructuring.
(iii). Extend the overdraft
facility for retailers to bringing
in liquidity to allow for business
continuity.
( i v ) . Pr o v i d e s h o r t - t e r m
financing option for a period
of 6 to 12 months, at lower
interest rates to meet the fixed
overhead costs.
– 47 –
2. Allow Food & Grocery Stores,

Markets, Super Markets and
Hyper Markets to be declared
as emergency services.
3. Opting for the ‘ Vivad se Last date for availing ‘Vivad Fully accepted
Vishwas’ scheme needs detailed se Vishwas’ Scheme has been
discussion with management, extended to 30th June 2020
group tax and tax authorities. at no additional charge.
In the present circumstances,
the following is suggested.
Extend the benefits of ‘Vivad
se Vishwas’ scheme ending
on March 31, 2020 to June
30, 2020.
4. In order to meet the working
capital requirements, the
following measures are
suggested:
(i). Immediate enhancement
of working capital limits by at
least 50% of sanctioned limits
from all banks.
(ii). Lowering/ waiving off the
interest for next 6 months,
apart from deferring govt dues
such as GST.
(iii). Allow retailers to make
the GST payment after receipt
of the payment instead of Last date for filing March, April Fully accepted
payment on raising the invoice. and May 2020 GST returns
(iv). Provide relaxation in filing (including composition returns)
of GST and withholding tax extended to 30th June 2020.
Returns.
5. Ensure that credit ratings of the
shopping centers are not altered
due to delay of re-payments in
the current scenario.
6. Provide support by covering
minimum wages for a period
of 3 months for the most
vulnerable employees in
the industry. It will support
retainment of livelihoods of
millions.
– 48 –
7. It is essential to ensure that

consumers continue to get
access to essential items easily
and not adding to further panic.
Hence, manufacturing facilities
must be kept open under the
strictest of safety and hygiene
guidelines.
8. Introduce Restructuring Scheme
for the Developers / Mall
owners, which should include
the following major reliefs:
(i). Moratorium for repayment
of principal / servicing of
instalments on LRD loan.
(ii). Complete waiver of interest
liability or reduction of ROI to
the level, which matches with
the cash surplus left after
meeting operational expenses
of the mall.
9. Defer the payment of Employees
Contribution of PF and ESI for
a period of 6 months and
then arrears contribution to
be payable in 12 monthly
instalments.
10. Provide credit period 60 days
for payment of electricity
charges.
Mandate Electric Distribution
companies to waive minimum
demand charge for the for 3
months.
11. Put on hold credit ratings of
individuals and corporates for
2x of the “restrictive measures”.
12. Waive off demurral’s detention
charges on companies if the
ports decide to close.
– 49 –
13. Fo l l o w i n g m e a s u r e s a r e
suggested with respect to
GST payments to tide over the
current crisis:
(i). Dispense the requirement of
mandatory GST registration for
supplies through E-commerce.
(ii). Dispense requirement of
mandatory GST registration
under causal taxable person
and non-resident persons for
supplies through exhibitions.
(iii). Extend the option of issue
of consolidated Bill/invoice at
the end of the day to all retailer
supplies.
(iv). Simplify the format of
return for filing of consolidated
Supplies.
(v). Extend the threshold
exemption of 40 lakhs for
interstate supplies as well.
(vi). Waive penalty for delay
in payment of taxes/filing of
returns during the impacted
period.
(vii). Grant extension of the due
dates of filing various returns.
( v i i i ) . Re l a x E - w a y B i l l
requirement for supplies form
B to retailers
– 50 –
The Confederation of Indian Industry (CII) works to create and sustain an environment
conducive to the development of India, partnering industry, Government, and civil
society, through advisory and consultative processes.
CII is a non-government, not-for-profit, industry-led and industry-managed organization,

playing a proactive role in India's development process. Founded in 1895 and celebrating
125 years in 2020, India's premier business association has more than 9100 members,
from the private as well as public sectors, including SMEs and MNCs, and an indirect
membership of over 300,000 enterprises from 291 national and regional sectoral
industry bodies.
CII charts change by working closely with Government on policy issues, interfacing with
thought leaders, and enhancing efficiency, competitiveness and business opportunities
for industry through a range of specialized services and strategic global linkages. It also
provides a platform for consensus-building and networking on key issues.
Extending its agenda beyond business, CII assists industry to identify and execute corporate
citizenship programmes. Partnerships with civil society organizations carry forward
corporate initiatives for integrated and inclusive development across diverse domains
including affirmative action, healthcare, education, livelihood, diversity management,
skill development, empowerment of women, and water, to name a few.
India is now set to become a US$ 5 trillion economy in the next five years and Indian
industry will remain the principal growth engine for achieving this target. With the
theme for 2019-20 as ‘Competitiveness of India Inc - India@75: Forging Ahead’, CII
will focus on five priority areas which would enable the country to stay on a solid
growth track. These are - employment generation, rural-urban connect, energy security,
environmental sustainability and governance.
With 68 offices, including 9 Centres of Excellence, in India, and 11 overseas offices in

Australia, China, Egypt, France, Germany, Indonesia, Singapore, South Africa, UAE, UK,
and USA, as well as institutional partnerships with 394 counterpart organizations in
133 countries, CII serves as a reference point for Indian industry and the international
business community.
Confederation of Indian Industry

The Mantosh Sondhi Centre
23, Institutional Area, Lodi Road, New Delhi – 110 003 (India)
T : 91 11 45771000 / 24629994-7 • F : 91 11 24626149
E : [email protected] • W : www.cii.in
Follow us on:
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COVID-19 - Impact On Industry and The Economy 24 March 2020

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IMPACT ON INDUSTRY AND THE ECONOMY

ACTIONS NEEDED TOSUSTAIN CONTINUITY

Update – 24 March 2020

IMPACT ON INDUSTRY AND THE ECONOMY

Advocacy on Voluntary Actions by Industry

1. Ease of Doing Business

4. Micro, Small and Medium Enterprises

6. Textiles and Apparel

7. Tourism and Hospitality

CII Recommendations and Action Taken as on

Advocacy on Voluntary Actions by Industry

CII COVID-19 CODE

CII COVID 19 REHABILITATION AND RELIEF FUND

Ease of Doing Business

1. Enhance Validity of licenses / approvals / NoCs

2. Easy & quick disbursal of pending dues

7. Facilitate ease of doing business for MSMEs

• Secure videoconferencing could be adopted to virtually ‘inspect’ cargo, where required.

Support offered by CII

1. Product related disruptions:

The Indian Industry recommends a three-pronged strategy in this regard.

1. Digital payments need to be prioritized

 Need to push for greater incentives in everyday spend categories, including a

Sectoral Recommendations: Paint

1. To improve liquidity and cash flow:

2. To enhance export competitiveness:

capital requirement is INR 13, 534 crores.

OVERALL TABLE: HOTELS

OVERALL LIST OF CENTRAL COMPLIANCES

Sl No. List of Central Compliances

S.No. Operating Registrations

S.No. Operating Registrations

MCA advisory to all companies/LLPs on ‘work from home’

The Advisory details the following:

Form CAR to be filed for confirming compliance with COVID-19 measures

MCA disabled 'View Public Documents' facility till March 31

SEBI: Extension of timeline for filings by listed companies

Relaxation of time gap between two board / audit committee meetings

High Courts to hear only urgent matters

NCLT: NCLT announced shutdown till 31 March 2020

SAT: Security Appellate Tribunal to remain closed till 31st March

The Impact of COVID-19 on Contractual Obligations: Force Majeure

COVID-19 Impact on Industry and Economy

5. Waive off taxes for the most

Direct tax measures

(ii). Increase Drawing Power

Sector: Tourism and Hospitality

5. The proposed TCS ruling will

(ii). Extend export obligation

5. Reconsider the bank guarantees

Sector: Medical Technology

Sector: IT & ITeS

2. Allow Food & Grocery Stores,

7. It is essential to ensure that

CII is a non-government, not-for-profit, industry-led and industry-managed organization,

With 68 offices, including 9 Centres of Excellence, in India, and 11 overseas offices in

Confederation of Indian Industry

cii.in/facebook cii.in/twitter cii.in/linkedin cii.in/youtube

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