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Cabinet clears ponzi Ordinance, fresh changes in the Companies Act

The ordinance on ponzi schemes will prohibit all deposit-taking activities that are not regulated by various regulators

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Indivjal Dhasmana New Delhi
The Union Cabinet on Tuesday cleared four ordinances, including those banning unregulated deposit or ponzi schemes and allowing amendments to the Companies Act, after the Bills concerned could not be taken up the Rajya Sabha due to disturbance despite being cleared in the Lok Sabha. 

The other two were the re-issuance of the contentious triple talaq ordinance that makes the practice of instant divorce by Muslim men a penal offence, and the Indian Medical Council (Amendment) Second Ordinance, 2019, to allow the Board of Governors (BoG) to run the scam-tainted apex body for regulating medical education.

After the Cabinet meeting

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