The Madhya Pradesh Investment Facilitation (Amendment) Act, 2023

The Madhya Pradesh Investment Facilitation (Amendment) Act, 2023

This Act amends the existing Madhya Pradesh Investment Facilitation Act to strengthen enforcement of compliance among entrepreneurs in the state. It introduces specific financial penalties for entrepreneurs who fail to meet conditions or uphold their undertakings found in self-certifications submitted to the Nodal Agency or other authorities. The legislation empowers the Competent Authority to impose a penalty of fifty thousand rupees for the first failure and one lakh rupees for any subsequent violations. This measure matters because it creates a clear legal deterrent against negligence in investment facilitation processes, ensuring that businesses adhere to their commitments and governing standards.

PDF: pending for this language.