Current Affairs 29th March 2019

Current Affairs 29th March 2019 - Important Points

• Memorandum of Understanding between India and Indonesia on - 27th March 2019
• Manu Bhaker, Saurabh Chaudhary breaks world record on - 27th March 2019
• US resolution to ban JeM Chief Masood Azhar on - 27th March 2019
• India, US sign pact for exchange of Country-by-Country Reports on - 27th March 2019
• MoU signed between India and African Union on - Health Sciences Cooperative Platform
• Cabinet approves extra positions in -  NCLAT
  Current Affairs 29th March 2019 - Details

Memorandum of Understanding between India and Indonesia on - 27th March 2019

 The Union Cabinet, led by the PM Narendra Modi, has sanctioned the inking of Memorandum of Understanding between India and Indonesia on March 27th, 2019.
This Memorandum of Understanding subjects fighting against illegal trafficking in narcotic and
psychotropic drugs and its precursors. India has inked similar Pacts with the 37 nations.
The Memorandum of Understanding will benefit in mutual co-operation in regulation of narcotic and
psychotropic substances and in fighting against drug trafficking.  It will come into effect on the date of inking and will remain in power for a period of 5 years.
Salient features of the Pact

• The Memorandum of Understanding shall facilitate and enhance the cooperation between the two nations in fighting against illegal trafficking of narcotic drugs, psychotropic substances and its precursors as defined by the United Nations International Drug Control Conventions.
• The cooperation under this Memorandum of Understanding comprises the exchange of data on present legal instruments of national legislation of both nations in fighting against the illegal trafficking of narcotic and psychotropic substances and its precursors, allowing and assisting each other in the usage of controlled delivery operation with a view to identifying persons indulged in illegal trafficking in narcotic, psychotropic substances and its precursors and essential chemicals, prevention of money laundering.
• Under the Memorandum of Understanding, there is a facility of maintaining the secrecy of data and
  documents obtained in accordance with this Memorandum of Understanding.

Manu Bhaker, Saurabh Chaudhary breaks world record on - 27th March 2019

Indian shooting players Manu Bhaker and Saurabh Chaudhary banged the qualification world record at
12th Asian Airgun Championship on March 27th, 2019. They won the 10 meters air pistol mixed team Gold medal at Asian Airgun Championship in Taoyuan, Taipei.
Manu Bhaker and Saurabh Chaudhary shot a collective score of 784 in the qualification round, breaking the record formed by Russians Vitalina Batsarashkina and Artem Chernousov at the European Championships 5 days ago.
Previous to this feat, they secured the International Shooting Sport Federation World Cup Stage Gold
medal in the same tournament in Delhi in February 2019.
Asian Shooting Confederation
Asian Shooting Confederation arranges Asian Airgun Championship. The foundation of the Asian Shooting Confederation was completely supported in principle by Members of the Asian nations present at the 18th  Olympic Games organised in Tokyo in 1964. It was confirmed at the 5 th Asian Games organised in Bangkok in December, 1966. The 1st General Assembly conference was organised on July 20th, 1967, at the Tokorazawa Ranges near Tokyo, Japan.

12th  Asian Airgun Championship
Hwang Seongeun and Kim Mose of Korea secured the Silver medal with a score of 481.1. Wu Chia Ying and Kou Kuan-Ting secured the bronze for the host nation with a score of 413.3. 2nd Indian team comprising of Anuradha and Abhishek Verma also made into the finals and finished at 4th place with a score of 372.1.

US resolution to ban JeM Chief Masood Azhar on - 27th March 2019

The USA on March 27th, 2019 distributed a draft resolution at the UN Security Council to ban Chief of
Pakistan-based terrorist group Jaish-e-Mohammad, Masood Azhar.
The resolution explains that Masood Azhar will be added to the United Nations Al-Qaeda and Islamic State Sanctions ban. It would lead to global travel ban, an assets freeze and an arms ban for Azhar. The resolution is backed by France and UK.
Fourth proposal to designate Masood Azhar as "global terrorist"
Till date, there have been 4 attempts through a United Nations sanctions committee to list Azhar as an
‘international terrorist’. China had blocked 3 previous requests and put a technical hold on the latest one in the starting of March 2019.
The 4th proposal was forwarded by P3 nations including France, UK and USA on February 27th, 2019 to the 1267 Al-Qaida Sanctions Committee of the United Nations Security Council in wake of Pulwama terror attack by Pakistan-based terror group Jaish-e-Mohammad that murdered more than 40 Central Reserve Police Force troops in India.
The members of the Al-Qaida Sanctions Committee were issued a time restriction of 10 working days to
put any objections to the proposal. 
If there is no protest to the proposal by the end of the no-objection period, the conclusion is considered to be adopted.
The no-objection period limit was planned to end on March 14th, 2019 (IST). However, just before the time limit, China blocked the proposal with a ‘technical hold’ and asked for extra time to examine the proposal.

India, US sign pact for exchange of Country-by-Country Reports on - 27th March 2019

India and the US on March 27th, 2019 inked an Inter-Governmental Pact for Exchange of Country-by-Country Reports among the nations.
The Pact was inked by Chairman of the Central Board of Direct Taxes, PC Mody and Kenneth I Juster,
Ambassador of the US to India.

Importance
This Pact for Exchange of Country-by-Country Reports, along with the Bilateral Competent Authority
Arrangement, will permit the nations to automatically exchange Country-by-Country Reports filed by the parent entities of Multinational Enterprises in the respective dominions with effect from January 1st, 2016. 
It would also do away with the practice of local filing of the Country-by-Country Reports by India-based
subsidiary companies of the United States Multinational Enterprises. The absence of a Pact between India and United States till now entailed a possibility of local filing of Country-by-Country Reports in India. 
Aim
The aim is to make sure that all tax authorities have access to the same data about an Multinational
Enterprises value chain and the resulting tax consequences.
According to the Sub-section (4) of Section 286 of the Income-tax Act, 1961, India constituent units of
multinationals has to furnish a Country-by-Country Report for a reporting accounting year within the
period as may be prescribed.

MoU signed between India and African Union on - Health Sciences Cooperative Platform

India and the African Union have inked a Memorandum of Understanding to start and strengthen the co-operation in the health sector in a structured and planned manner by beginning the India-Africa health sciences cooperative platform.
Following the deliberations at the 1st India-Africa Health Sciences Meet in 2016, Indian Council of Medical Research had taken up the mandate to start and strengthen the cooperation in the health sector in a structured and organized manner by starting an India-Africa Health Sciences Cooperative Platform. The MoU inked intends to formalise this partnership by beginning a framework.
The India-Africa Health Sciences Cooperative platform would emphasis on training and firming capacity of health professionals, researchers, regulators and industry staff, support research associations for
developing preventive tools and better-quality diagnostics for diseases which are regional priorities in
India and Africa.
African Union

• The African Union is a continental union entailing of 55 member states situated in the continent of Africa.
• African Union was originated on 26th May 2001 in Addis Ababa, Ethiopia and released on 9th July 2002 in South Africa. The African Union replaced the Organisation of African Unity, recognized on 25th May 1963.
• The African Union was recognized for quickening the process of integration in the continent to enable it to play its rightful role in the international economy while addressing many-sided social, economic and  political issues compounded as they are by certain negative features of globalisation.
• All United Nation member states based in Africa and on African waters are members of the African Union.

Cabinet approves extra positions in -  NCLAT

The Union Cabinet has approved the formation of 6 extra positions in the National Company Law
Appellate Tribunal- NCLAT. The proposal involves the creation of three extra positions each for judicial
members and technical members in the National Company Law Appellate Tribunal. The formation of extra positions will assist meet the mandate provided to National Company Law Appellate Tribunal by the  Finance Act 2017, the Companies Act 2013 and the Insolvency and Bankruptcy Code 2016.
National Company Law Appellate Tribunal

• National Company Law Appellate Tribunal was founded under Section 410 of the Companies Act, 2013 for hearing petitions against the orders of National Company Law Tribunal.
• The present Chairperson of National Company Law Appellate Tribunal is Hon’ble Justice Shri S.J.Mukhopadhaya, former Judge of the SC.
• National Company Law Appellate Tribunal is the Appellate Tribunal for hearing petitions against the orders agreed by National Company Law Appellate Tribunal under the Insolvency and Bankruptcy Code, 2016. NCLAT hears appeals against the orders passed by Insolvency and Bankruptcy Board of India.
• National Company Law Appellate Tribunal is also the Appellate Tribunal to listen and dispose of petitions against any direction issued/decision made by the Competition Commission of India according to the modification brought to Section 410 of the Companies Act, 2013 by the Finance Act, 2017.