The Ministry of Information and Broadcasting (“MIB”) on November 10, unveiled the preliminary draft of the Broadcasting Services (Regulation) Bill, 2023 which was poised to redefine the regulatory landscape governing the broadcasting industry in India. This proposed Bill aims to repeal the lengthy Cable Television Networks (Regulation) Act, 1995 and amalgamate it with current regulatory standards governing the Indian broadcasting sector into a single legislative framework. However, the Bill makes it clear in Section 42 that it will not be barred from other laws, such as the Information Technology Act of 2000 (the IT Act) and the Telecom Regulatory Authority of India Act of 1997. The Bill has crafted its provisions in a way that transcends the boundaries and acknowledges the emergence of OTT platforms. The Bill also notably encompasses digital news platforms and internet broadcasting networks (Section 3(1), including platforms like Prime videos, Netflix.
Separate the business entity from the owner
Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for all debts incurred by the business.
Having a business name does not separate
The creditors can go after the owner\’s personal possessions.
If the business acquires debts, the creditors can go after the owner\’s personal possessions