The WordPress.com stats helper monkeys prepared a 2012 annual report for this blog.
Here’s an excerpt:
600 people reached the top of Mt. Everest in 2012. This blog got about 2,300 views in 2012. If every person who reached the top of Mt. Everest viewed this blog, it would have taken 4 years to get that many views.
Huge crowd itself explains public anger in pictures published in Media and telecasts on news channels. Crowd gathered its own without any invitation or call, demand for justice, law, law and order, public security, security for women. When you read about all these on any international newspaper, language will make you clear, they are talking about an undeveloped third world country. The crowd was without leader but not leaderless; completely disciplined until some political interests infiltrated in.
Posted in Governance and Responsibility, Truth of Our Time
Tagged Criminal Justice system, Criminal Law, Delhi, Delhi Gang Rape, Governance, Government, India, Law, Media, Outrage, Police, Protest, Rape, Reforms, Responsibility, Security, Sexual abuse, Sexual harassment, Social Media, violence against women
A new Section 80CCG has been inserted into Indian Income Tax Act by the Finance Act 2012 with effect from 1st day of April 2012. This means this action is applicable for previous year 2012 – 13 and assessment year 2013 – 14.
This Section 80CCG of Indian Income Tax Act, 1961 allow a deduction of fifty percent of amount invested in equity shares up to amount of Rs. 50,000.oo (Rs. Fifty thousand only) in a previous year as par a scheme called Rajiv Gandhi Equity Saving Scheme, 2012. Even though this law and scheme is targeted to attract small investors to capital market, political analyst think timing of this scheme aiming for next general election scheduled to be held in year 2014.
Name Availability Guideline, 2011 issued by the ministry of Corporate Affairs on 8th july 2011 with effect from 24th July 2011 and related Form 1A was also introduced on that date. The Fees for filing this form is Rs. 1000/-.
[UPDATE: Rule 8 of the Companies (Incorporation) Rules, 2014 replaces these guideline with effect from 1st April 2014. Rules 8 Discussed in another post.]
This guideline is voluntarily applicable for a company having paid up capital not less than Rs. 10 crore (Rs.10,00,00,000/- or more) or having more than 100 members. (Though, I could not understand, why MCA selected a class of company for this voluntary guideline. Whether, they will prosecute other companies if they want to follow these guidelines. In my views, the class of companies mentioned in these guidelines should be under “Comply or Explain” and other companies need no explanation, if they choose not to follow these guidelines.)
[UPDATE: There is nothing to suggest that these guideline are in force after the Companies Act, 2013 and Rules made there under. The Act, otherwise, has own list of compliances for providing information on websites.]
Law gives legal status to Company Secretary but not business feasibility for the appointment of a Company Secretary in employment of an organisation. Business feasibility could be measured in term of value addition to the organisation not legal addition to the organisation. The value addition may be in form of increased profitability, wealth creation or confidence building among its stakeholders. These stakeholders measure success not in financial terms but through confidence towards an organisation amongst them.
We have completed many stages; clerk, manager, general manager, decision maker, managerial personal, Key managerial personnel and next step the conscience keeper. Every height we gain always stands on a solid foundation of a concrete mix customised for individual need. So we need to look into basic foundation of our profession. The litmus test to judge strength of basic foundation of any profession is not its education, crowd of its student, number of its members, this and that legal recognition, written ethical value codes and International codifications but confidence put by its real paymaster, the stakeholders.
The Institute of Company Secretaries of India organized its annual ritual called national convention on October 4, 5 & 6, 2012 at Aamby Valley, District Pune, Maharashtra on theme “Vision 2020: Transform, Conform and Perform”. This was my second national convention. I am very happy to note that my article “Keep Conscience Awaken: Blow Whistle” was published in the souvenir of the convention. My enthusiasm could be reflected from my delegate number 203 out of 1200 registered delegates while I already have more than 40 credit hours of continuing professional education program.
E-Governance is application of Information and Communication Technology (ICT) for delivering government services, exchange of information communication transactions, integration various stand-one systems and services between Government-to-Citizens (G2C), Government-to-Business(G2B), Government-to-Government( G2G) as well as back office processes and interactions within the entire government frame-work. [i] E-Governance is beneficial to provide a corruption free administrative service to citizens and other stakeholders. The essence of E-governance is to serve intended person easily and faster. There should be an auto-response system to support the essence of E-governance, whereby the Government realizes the efficacy of its governance. Best form of E-governance cuts down on unwanted interference of too many layers while delivering governmental services.
There are many electronic governance projects run by government of India. The target users of all these projects come from different segment of public and have different education standards. When these e-governance projects target grassroots level, its success depend not only designers and developers of such electronic governance projects but much upon cooperation and understanding of its end users. Such project always faces critical evaluation by its users and scholars.
The Ministry of Corporate Affairs (MCA), Government of India, has initiated the MCA21 project, which enables easy and secure access to MCA services in an assisted manner for corporate entities, professionals, and general public. The MCA21 project is designed to fully automate all processes related to enforcement and compliance of the legal requirements under the Companies Act, 1956 Government within a day’s time.[ii] Majority of stake holders of this project are professionals and business houses.
Posted in Companies Act 2013, Company Secretary, Governance and Responsibility, Truth of Our Time
Tagged CorpLaw, e-Governance, India, MCA21
Here are details of my petition to pass Companies Bill, 2011:
Petition title:
Pass (Indian) Companies Bill, 2011
Addressed to:
Posted in Companies Act 2013, Governance and Responsibility
Tagged CorpLaw, Democracy, India, Parliament, Reforms
There is a clear conflict of interest among promoters, shareholders and other stakeholders of company. The conflict of public shareholders and stakeholders put them in very interesting position.
In the recent cases on 2G scam in India, the government often quoted the cost-effective services to end-user of these service and product as one reason of allocation of resources at such cheap prices. Ministers claim that at CAG suggested prices of the spectrum, call rates would be higher than present rates and become unaffordable to most of the users. Sometimes, it is also suggested that present information revolution may not be happened in India if spectrum allocation were happened according to CAG suggestions.
Posted in CorpGov, CSR, Governance and Responsibility, Truth of Our Time
Tagged 2G, Corporate Social Responsibility, CSR, spectrum, stakeholder
In last 20 years after initiation of economic reforms, India particularly corporate India has moved far ahead to start a new flight towards untouched horizons. We are surviving in a time of dynamic transformations through technological advancement, regulatory rationalisation, progressive professionalism, democratic transformation and sustainable development in our society. In recent developments, transformation of leadership of democratic institutions toward participatory solidarity of all societal stakeholders is evident. There are evidences of many streams of thought and developments in society but there are many new developments, whose time is just knocking the door. Our corporate environment is not left out but is part and parcel of this silent revolution. These transformations in our society are bound to affect all vistas of our life and corporate sector as well. We are very fortunate to be a part of this transformation and we have tremendous opportunity to be a carrier of this transformation. We should understand this revolutionary time and keep pace.
In one programme on Corporate Social Responsibility organised by some Chamber, one renowned Company Secretary claim that Corporate Social Responsibilities are primary responsibility of a Company Secretary. Within no time, some other members negated this fresh liability with “we have enough” attitude.
The basis definition of CSR says “doing business responsibly”.
There is a very interesting post on decline of influence of kayastha community in politics and other walk of government. It raises some major questions about this once influential community:
Posted in Truth of Our Time
Tagged Brahmanical, Caste, Caste – System, Hindu, Hindu Nationalism, India, Kaithi, Kayastha, Muslim, Nationalism, Partition, Profession, Reservation, Urdu
The book entitled “Water Pollution and its Recent Challenges” embodies pioneer researches delivered and discussed during the two days UGC sponsored National Seminar organized by the University Department of Chemistry, S.K.M. University, Dumka, Jharkhand in April 2011, convened by Dr. Hashmat Ali, on the most burning issue of the day viz. Water Pollution. The seminar was attended by a galaxy of Scientists and Researchers from different part of India.
By far the most serious and ominous problem the world is facing today is the problem of water pollution. In spite of adopting various measures I existence so far to check the pollution, the situation is worsening in its complexity day by day due to rapid industrialization, urbanization and exponential growth in the population. Moreover, reckless exploitation of water recourses to meet the growing demands without paying heed towards sustainability factors has deteriorated the situation furthermore.
Ms. Poonam (Kulshreshtha), my younger sister was one of the contributors in the seminar. She is Law Graduate from Aligarh Muslim University, Aligarh and did her Master also from same University. She has qualified UGC – NET in Law. Presently, she is a Research Scholar at University of Allahabad. She is doing her Research in Intellectual Property Laws.
Posted in Truth of Our Time
Our country has more mobile phones than toilets.
Loss of blackberry is bigger issue than loss of your virginity.
Multiplying uses of Mobile Phones
And many other mobile related jokes tell a big story of growing importance of mobile in our rapidly changing life style. Mobile has replaced Post Cards (Short Messages), wrist watches, time piece (morning alarms), radio, personal computers, calculators, e-book reader, calendar, personal diaries, maps, scanners, recorders, music players, camera, video games and many other devices. In one recent advertisement in Australia, user put his girlfriend into mobile (I found this advertisement sexist and ethically wrong). This all show importance of mobile in our life.
Posted in Truth of Our Time
Tagged Consumer Protection, Consumers, India, Mobile, Public, Reforms, Regulations, Telephony, TRAI
Bipin S. Acharya
After a long weekend, when I come back to work, my mail folders dedicated for peer group read more than 150 mails. What happened? It would have been an eventless week as government is on election mode and no major policy change was expected. Unfortunately, there was very sad news. On 28th January 2012, our beloved Company Secretary Sh. Bipin S. Acharya has left for heavenly abode. According to Hindu calendar, that was day of Basant Panchmi, the first day of spring. This is a day of cultural significance and dedicated to goddess Saraswati of knowledge and wisdom. Naturally, god has no other suitable day as an option to call a practising scholar like him.
Posted in Company Secretary, Institute of Company Secretaries of India - ICSI, Secretarial Audit, Secretarial Standards, Truth of Our Time
Tagged Bipin Acharya, Companies Act, Company Secretaries, Corporate, Death, ICSI, India, Indian Companies Act, Institute of Company Secretaries of India, Ministry of corporate affairs, Practising Company Secretary, Profession, Reforms, Secretarial Audit, Whistle blower
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AishMGhrana 