17Th June 2018 : Daily Current Affairs - UPSC CSE/IAS & State PSC

This page contains "17th June 2018" current affairs analysis from different newspapers and magazines like the hindu, indian express, PIB and yojna.

Quality and relevance are two key features considered while writing the content, all the topics are based on the pattern of previously asked questions in exams like UPSC CSE, IAS, State PCS, SSC, Banks PO and like wise competitive exams.

1) UN report on human rights abuse in Kashmir

UNHRC recently released a 49 pages report on terrorism and counter-terror operations and human rights situationin in Jammu & Kashmir in between January 2016 and April 2018 during which violence escalated.

The report called for an international investigation into the alleged incidents of human rights abuse by Indian forces in Kashmir, strongly opposed by Indian government.

The report covers both the State of Jammu and Kashmir and the part of the State under Pakistani control. The report also calls on both India and Pakistan to respect their International Humen right Obligations.

Asks India to immedeatly repal AFSPA and initiate independent investigation to probe civilian killing since July 2016. It also urges pakistan to stop misusing anti terrorist legislation to persicute those involved in peaceful civil and political activities.

The report urged India to ratify the International Convention for the Protection of all Persons from Enforced Disappearance, and the Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment and its Optional Protocol.

The report was drafted through remote-monitoring as neither Pakistan nor India was willing to grant access to the sources on both sides of the Line of Control (LoC).

This is the very first Human right report released by UN in Jammu & Kashmir, the report also blammed Indian security forces for alleged murders and rape and untold human sufferings caused by the political conflict which affected millions of lives in the region.

MEA told that there are no entities such as 'Azad Jammu and Kashmir' and 'Gilgit-Baltistan', mentioned in the report.

2) The Insolvency and Bankruptcy Amendment (Ordinance) Act, 2018

Why in news ?

The amendment to the Code was brought about with a view to balance the interests of various stakeholders, especially the interests of home buyers.

Prior to the amendment, homebuyers were neither treated as financial creditors nor as operational creditors but as an ?unsecured creditor?, because of which they were not able to initiate insolvency proceedings against a defaulting developer.

Post amendment, homebuyers are now classified as an "allottee" under a "real estate project" hence the amounts paid by homebuyers to a developer will be treated as financial debt and homebuyers will be categorised as financial creditors.

Now home buyers can jointly or individually file a petition to initiate insolvency proceedings against a defaulting developer company. Once the insolvency proceedings are initiated the homebuyer can submit his claim to the appointed interim resolution professional.

The promoters of MSMEs are allowed to bid for their companies as long as they are not wilful defaulters and don?t attract any other related disqualification. This has corrected the anomaly in the section 29A of the existing act which had barred promoters of defaulting assets from bidding for their assets.

The ordinance permits the withdrawal of the insolvency applications only if it is approved by 90% vote share of the Committee of Creditors (CoC). The CoC voting threshold has been brought down to 66 percent from 75 percent for all major decisions such as approval of resolution plan.

Corporate debtors who want to themselves trigger insolvency will need shareholders approval via special resolution.

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