Friday 31 January 2020

A Minor Boy shoots bullet in Jamia hitting at left hand of a CAA protestor Shadab Faruqh

theinfobell January 31, 2020 Trending , 0 Comments

A Minor Boy shoots a bullet in Jamia hitting at the left hand of a CAA protestor Shadab Faruqh. Bullet at left hand seems an attack on left wings by the right wings?

a minor boy hits bullets onto jamia protesters

A Minor boy fires in Jamia over CAA protesters, bullet hits at left hand of one Shadab Farukh. Bullet shot by Right Wings hits metaphorically Left-Wing?

India, 31st Jan, 2020: The up burnt CAA protests got a terrific face-off today in Jamia where an accused juvenile came up with a pistol in his right hand dressed up in black jacket and white chinos and shot bullets right onto the CAA protestors. The protestors from Jamia Millia University were marching ahead Rajghat leading a peaceful protest. But a minor boy’s attack painted it a bit out of taste. The minor boy’s facebook timeline mentioned him a Rambhakt (Devotee of Lord Ram), but his unlawful action seems to brighten a clear hypocrisy of his self acclaimed tag Rambhakt. The boy appeared from nowhere from the direction where the police were standing cemented with barricade to prevent the march of the mob of the protestors. The boy stood just few yards in front the police barricade and shouting some unendurable slogans, shot bullets one after another.

The boy, soon before the incident, was apparently active in facebook. In his several posts, he mentioned that he was a lone Hindu there, and there was no Hindu media nearby. He also mentioned that if he dies in the incident his body must be carried wrapped in saffron clothes.

His blind and open fires hit a protestor named Shadab Farukh causing bleeding from his hand. He is now admitted in All India Institute of Medical Science

The Greater Noida lived accused juvenile was captured by the police on the spot and now he is under police custody. The police are now conducting an inquiry of the incident.

Chinmay Biswal, DCP, South East Delhi says, “….I am trying out to find the facts what has happened… we are looking into it.”
It big co incidence here is that only two days back a BJP leader uttered in a public meeting that they should fire on the country’s traitors.

What is Corona Virus? Corona in india, Meaning, Symptoms, Precautions

theinfobell January 31, 2020 Trending , 2 Comments

Corona Virus: The Chinese Version of Messenger of Death God.

Corona Virus is a rising threat to South East Asian Countries. Know all about how to prevent it.

corona virus , virus in india , symptoms ,precautions

CORONA VIRUS , MEANING , SYMPTOMS , PRECAUTIONS

Introduction

The horrendous Corona Virus, which already engulfed the bigger territory of China, is now gradually shifting to attack more people in the border sharing countries of China. The dangerous corona virus is now behind many infectious diseases, signaling an epidemic if not conquered by man.

Corona Virus is a dangerous and transmittable disease from animals to human and then from human to human. Belonging to the thread of Severe Acute Respiratory Syndrome (SARS Virus), the Corona virus is mostly found in animals with no extra surprise that it can also victimize the human beings. Corona Virus affects the mammals and birds most often. Diarrhea in cows and pigs, upper respiratory diseases in chickens are also some form of common attacks of Corona Virus.

The Corona Virus became a hot cup of tea, and a new rim of headache as it recently out broke in Wuhan City of China in December. Soon, it crossed the boundary limits and started influencing many people. READ FURTHER CORONA VIRUS ,VIRUS IN INDIA, SYMPTOMS, PRECAUTIONS

Meaning of Corona Virus

Corona is a type of infectious disease which is mainly transmitted from mammals or birds to human beings and then transmits though various related causes from one man to another. The Corona Virus are of many types, but the one which can transmit to human body is Novel Corona or 2019 n-COV for short as recognized by the World Health Organization. The mother source of Corona Virus is from Wuhan city in China and therefore it is also known as Wuhan Corona. Both man and other animals have seen in the grip of Corona.

Symptoms of Corona Virus

SYMPTOMS OF CORONA VIRUS

Corona Virus dominantly attacks the respiratory system of human body creating many other respiratory issues side by side. Corona Virus sometimes causes fever along with runny nose, cough, sore throat etc. The common cold and flu may also be a look alike of Corona Virus. Breathing issues, fever, diarrhea, gastrointestinal issues, general body pains are some common symptoms. However if it reaches to a severe level, it may cause pneumonia, high fever of 100.4 degree Fahrenheit or higher or even kidney failure.

How it transmits

Corona is easily transmittable like cold and flu. It commonly spreads out through the sneezes or coughs of an infected person. Using the contaminated objects of an infected patient can also cause an easy transmission of Corona Virus.

How to prevent Corona Virus

Prevention is the master vaccine of many transmittable diseases not excepting Corona Virus. As it is now clear that this diseases may transmits from mammals and birds including chicken, cows, pigs etc. so a safe distance must be maintained from the infected or prone animals.

A safe idea here is using a face covering mask in public places. Not even small cold and flu can be ignored and a physicians advice must be sought if any of the symptoms appear. Discovery of a diseases at an early level may help to prevent it from getting into a severe level. The below points will help you to prevent Corona:

1. Washing hands frequently, whenever you touches anything dirty, washing hands will help you to fight against deadly corona virus. The hand palms are the safe zones for corona viruses to get a shelter and then to enter into your body.

2. Maintain a Social Distance: Do not dare to enter into the radius of minimum 1 meter (3 feet) of a sneezing or coughing person. Nor you should allow your beloved to come closer than that distance if you are sneezing or coughing. Avoid all sorts of mass gathering and postpone your travel schedules.

3. Avoid rubbing your eyes, touching nose and mouth: Do not touch your nose and mouth very frequently as the deadly Corona can pass into your body through nose and mouth. Alike, avoid rubbing your eyes with your hands.

4. Cover before sneezing: Before sneezing you should cover your nose and mouth with a tissue paper or bent knee. After using the tissue paper, it should be disposed off safely.

5. Consult doctors if the symptoms persists: The symptoms of Corona are similar to cold and flu, and therefore if you suffer from cold and flu and you do not get well within the reasonable time, without a single moment delay, consult your health checker and get diagnosed properly.

History of Corona Virus

Though it seems that Corona Virus is a recent medical trauma, the history of Corona Virus dates back to the year 1960. It was at early stage discovered in chickens. The most common bronchitis virus in chickens are ancestors of Corona Virus. Corona Virus is just the another member of the family of Severe Acute Respiratory Syndrome (SARS Virus). So, corona virus is a transmittable diseases found among mammals and birds. Some of the listed corona virus types are 229E, NL63, OC43, HKU 1, which are common human corona viruses.

The very recent discovered species of human corona virus is Novel Corona Virus or 2019-nCOV for short as identified by World Health Organization (WHO). These virus originated from the city of Wuhan in China. The alleged source of 2019 n-COV is the odd food habit of the people of Wuhan. So, this 2019 n-COV is also known as Wuhan Corona Virus.
READ HERE CAB became CAA: the un-clicked angles of Assam, Citizenship Amendment Bill 2019, Citizenship Amendment Act, 2019

Corona’s death tolls

Corona Virus News

The infamous Corona Virus is now accountable for more than 17 deaths all around the world. The virus that rose from the seafood of Wuhan in December, has now captured the world map. Reports are coming from all corners of the world getting infected by Corona Virus. More than 500 cases were under the scrutiny of doctors in Wuhan from the month of December, 2019. Soon, the boundary of Wuhan fell short for Corona Virus and got widespread in China. So far, Japan, Thailand, South Korea and U.S.A are in the radar of the virus. As the world shares the same atmosphere and as the world travel is now a common phenomenon, therefore the Corona Virus has an easy route everywhere.

Monday 20 January 2020

Indian Institute of Entrepreneurship, Complete Note on IIE with its objectives and Functions

theinfobell January 20, 2020 Business & Commerce , 0 Comments

IIE's commitment to Micro Small and Medium Size Entrepreneurs. IIE Complete analogy with its establishment, objectives, functions, programs or services

CONTENT

ORGANIZATIONAL STRUCTURE
OBJECTIVES
FUNCTIONS OF IIE
PROGRAMS OR SERVICES PROVIDED
CONSULTANCY
SEMINARS AND WORKSHOP
PROJECTS
CONCLUSIONS

IIE Complete note with its objective and functions

Indian Institute of Entrepreneurship,Complete Note on IIE with its objectives and Functions

Explain in detail the ways through which the various institutions set up to provide financial assistance to an existing and new entrepreneur?

Answer: The Government of India is committed to aid and guide the aspiring entrepreneurs of India and has initiated many programs to benefit them. The Ministry of Industry (now called Ministry of Micro Small and Medium Enterprises) is specially responsible for this entrepreneurship genre. The government has tried to provide a roof to the existing and new entrepreneurs by setting up an institutional corridor to train them and assist them financially.

The government of India under the Ministry of MSME established the Indian Institute of Entrepreneurship (IIE) in 1993 which started functioning from April 1994 after it took over the North East Centre of NISIET (National Institute of Small Industries Extension Training), Hyderabad. Later in the year 2015, on 22nd May, IIE has been transferred to the Ministry of Skill Development and Entrepreneurship.

Training, Research, Consultancy, Seminars & Workshops and Consultancy led by IIE

Organizational STRUCTURE

The IIE is an autonomous organization that runs under the Ministry of Skill Development and Entrepreneurship presently. The IIE was registered under Societies Registration Act, 1860 and was founded in Guwahati by the former Ministry of Industry (now called Ministry of Micro Small and Medium Enterprises). The policy direction and guidance to the institute are provided by its board of Management whose chairman is the secretary to the Government of India, Ministry of MSME. The government Council of the institute is headed by the Chairman, NEC and the Executive Council is headed by the Secretary, Ministry of MSME, Government of India.

OBJECTIVES

The main objective is to undertake training, research, and consultancy activities in the field of small industry and entrepreneurship.
1. To promote and develop entrepreneurship.
2. To coordinate and collaborate with other organizations in undertaking training, research, and other activities to increase the outreach of the institute.
3. To promote greater use of information technology in the activities or functions of the IIE.
4. To comply with statutory responsibilities.

FUNCTIONS OF IIE

Towards the attainment of its objectives, the IIE performs the following functions:-

1. To organize and conduct training for entrepreneurship development.
2. To identify, design, and conduct training programs for existing entrepreneurs.
3. To research generating knowledge to accelerate the process of entrepreneurship development.
4. To organize seminars, workshops, and conferences for providing a forum for interaction and exchange of views by various agencies and entrepreneurs.
5. To identify the training needs and offer a training program to the government as well as the Non-Government Organization engaged in promoting and supporting entrepreneurship.

Programs OR SERVICES PROVIDED

The IIE is guided by its set goals and is a promising institute to provide all possible help to the entrepreneurs. The organization provides its service through five sets of programs:-
i. Training
ii. Research
iii. Consultancy
iv. Seminars and Workshops
v. Projects

i.Training

The IIE provides training schemes under two broad categories namely Non-ATI(Administrative Training Institute) Scheme, and ATI Scheme (ESDP-European Security and Defence Policy). The training schemes are specially designed for new entrepreneurs as well as for the existing entrepreneurs. The schemes cover a wide range of packages for training and also ensures quality training.
Some of such training programs are enlisted below:-
Jewelry Designing and Making and Gems and Stone Processing
Entrepreneurship Development Program
REDP on mobile repairing
Incubation Training for ready-made Garments
Incubation Training on Handicrafts
EDP under PMEGP
Awareness technical Infusion program
Entrepreneurship AwarnessProgramme
Modern office management and Secretariat Practice(KCVT)

ii. Research

The Institute undertakes research and studies either on its own or on a sponsored basis and provides consultancy in the field of growth and development of micro, small and medium enterprises across North East India and beyond. The Institute also acts as a catalyst and a resource center for providing various inputs on policy formulation for promoting entrepreneurship and development of micro, small, medium enterprises to the Central and State governments. Another major focus area is the evaluation of various Central and State government organizations and schemes.

iii. Consultancy

The IIE provides following types of consultancy services:
Enterprise Planning
Enterprise Management
Enterprise Expansion, Diversification & Growth
Management Consultancy
Marketing Consultancy with specialization on export and border trade
Technology Sourcing
Technology Propagation
Project Reports

iv. Seminars and Workshops

IIE conducts seminars and workshops regularly to help out the entrepreneurs:-
For sharing experiences on the implementation of programs of self-employment and entrepreneurship.
On current topics such as WTO and its impact on the SME sector, promoting first generation entrepreneurs through PMEGP, promoting women entrepreneurship, etc.
On creating awareness about the prospects of developing entrepreneurship in a certain line of activity such as on Handmade Paper Industry, Food Processing Industry, etc.
Besides, the institute organization
Entrepreneurs Meet to understand and appreciate their problems in launching projects and managing them successfully.
Interactive Meet on Entrepreneurship Education to discuss the need and importance of entrepreneurship elements in an academic curriculum.

iv. Projects
The IIE has undertaken the following projects:-
India Infrastructure Finance Company Ltd. &amp;amp;amp;amp; National Scheduled Tribes Finance and Development Corporation IIFCL-NSTFDC
Centre for Sustainable Livelihood Promotion (CSLP)
Regional Resource Center (RRC) for Cluster Development
Science and Technology Entrepreneurship Development (STED)
Rural Industries Programme(RIP)

Read also
THEORY OF COPRORATE GOVERNANCE

Conclusion

The IIE is a new backbone to the North-Eastern region which is an industrially backward region for ages. Now the government is resolute to transform this backward area into a newly developed region. The IIE is serving the young aspirants and also trying to train the existing entrepreneurs by injecting new business skills and zeal amongst them.

Sunday 19 January 2020

Examination of Indian constitution in light of Federal Nature of India

theinfobell January 19, 2020 LAW , 1 Comments

TUSSLE OF INDIAN POLITY, FEDERAL CHARACTERISTIC OF INDIAN POLITICS, COMPARISON BETWEEN FEDERALISM AND UNITARY FORM OF GOVERNMENT, IS INDIA A FEDERAL OR QUASI-FEDERAL STATE?

CONTENT

1.1. INTRODUCTION

1.2. DEFINITION OF FEDERALISM

1.3. INDIAN CONSTITUTION: A MIXTURE OF FEDERALISM & UNITARY FORM

1.4. INDIAN POLITICAL SYSTEM: QUASI-FEDERAL

1.5. CLASH OF FEDERALISM AND UNITARY FORM

1.6. CONCLUSION

TUSSLE OF INDIAN POLITY, FEDERAL CHARACTERISTIC OF INDIAN POLITICS, COMPARISON BETWEEN FEDERALISM AND UNITARY FORM OF GOVERNMENT, IS INDIA A FEDERAL OR QUASI-FEDERAL STATE?

Is India A Federal or Quasi-Federal State?

INTRODUCTION

India has a complex and diversified political, geographical, lingual, cultural structure and yet the one twenty-five crore people live by the identity of being an Indian. 3,287,240 Sq.Km of the geographical area of India, which is divided into 29 states and 7 union territories is named India by virtue of Article 1(1) of the Indian constitution which can be read as “India, that is Bharat, shall be a union of state.”

Prior to British rule, the Indian subcontinent was abruptly distributed into separate geographical states ruled by different kings. But Britishers started gradually occupying the land and finally put this separated lands into one India and thus when India received independence it became a single country. However, the various distinctive nature of the people and of the lands caused a challenge before the maker of the “Law of the lands” to unite these diverged lands and the people. So, the makers of the constitution incorporated a mixture of federalism as well as the unitary form of governance.

DEFINITION OF FEDERALISM

“Federalism is a system of government in which sovereignty is divided between a central authority and constituent political units such as states or provinces. Thus power is shared between national and provincial governments.”

Indian Constitution: A mixture of Federalism & Unitary form

Indian Constitution has not directly advocated federalism for the governance of the country. However certain features suggest federalism with the primary ingredient of a unitary form of governance of the country.

Distribution of power between the union government and state government.

By virtue of the Seventh Schedule, Article 249 of the Indian constitution, the legislative, administrative and executive powers are distributed amongst the union and the states. List-1 of the seventh schedule has prescribed 97 subjects, on which the union government can apply its powers and function accordingly.

List-II is all for state list and the various state governments can frame laws and function accordingly on the 66 different subject matters. List-III is the concurrent list, and both of the union governments, as well as state governments, can make laws and have functions on them. However, when state laws contravened the laws made by the union government on concurrent matters, the union government laws sustain.

2. The supremacy of the constitution

The federalism of the Indian constitution can be traced through the supremacy of the Indian constitution. The constitution of India is the law of the land and it cannot be wiped out and even if it can be amended, the The basic structure of the constitution is indestructible. In the famous case of "KESAVANANDA BHARATI VS. STATE OF KERELA AIR 1973 SCC 225", it was held by the Supreme court that "There are certain principles within the framework of Indian Constitution which are inviolable and hence cannot be amended by the parliament. These principles were commonly termed as Basic Structure."

"Kesavananda Bharati is the case which saved Indian Democracy...."

3. Rigid yet Flexible Constitution

The Indian constitution lays the laws of the land and it is the source of the country. The constitution advocates a sovereign, democratic and republic country and it provides a framework for the country's utmost soul. But the constitution can be amended as prescribed in Article 368, but subject to the doctrine of the basic structure as guided by the Apex court which is the guardian of the constitution.

4. Independent Judiciary

Indian judiciary is independent of the legislature and executive function and independent nature of the judiciary upholds the federalism feature in the governance. As the powers are distributed between the center and the states, in matters of disputes between the two , the judiciary works as a mediator. The Apex court of the country is vested with the power of judicial review and the court is assigned to guardian our constitution. The independent judiciary of India is nurtured in the following way.

The judges of the Supreme court and High court are administered on an oath to perform their duty without fear and favor,affection or hatred or ill will and to protect the constitution.
The judges of the Supreme Court and High court are appointed by the president. Their salaries and perquisites are paid out of the consolidated fund of India and cannot be curtailed by the parliament except only in case of financial emergencies under Article 360.
The activities of judges cannot be discussed in parliament. The parliament can only add to the power of the court but cannot cut it.

INDIAN POLITICAL SYSTEM: QUASI FEDERAL

Indian political system is quasi federal and it is a composite of federalism and unitary form of government. In the words of K.C. Wheare, “Indian union is a unitary state with subsidiary federal features rather than a federal features rather than a federal state which subsidiary unitary feature.”

1. Strong Centre: In spite of the fact that the powers have been distributed between the centre and the states in the Seventh Schedule, the Constitution concentrates powers more to the centre. In case of laws made in the subject matters of List – III concurrent list, the laws made by the Union overrides the state law. Moreover, in special the Union Government can also make laws on the subject matters enumerated in the state list.

2. Destructible State: “Indian Federalism is an indestructible Union of Destructible States”. Article 3 of Indian Constitution provides that the Parliament may by law form a new state, increase the area of the state, alter the boundaries or even alter the name of the states and that also by way of simple majority. Hence the Union is more powerful and the states are not completely indestructible.

3. Single Citizenship: Part – II of the Indian Constitution, from Article 5 to 11 prescribes how citizenship of India can be acquired and from this part it is clear that the Indian Constitution only recognizes single citizenship that is “Citizenship of India”. India does not recognize citizenship of the states separately like other federal countries.

4. Single and flexible Constitution: The Indian Constitution is unique and it is not only a Constitution of the Centre but also of the states. The states are not empowered to frame their own Constitution. At the same time, the Indian Constitution is a flexible one as it is amendable as provided by Article 368, but subject to the Doctrine of Basic Structure.

5. Emergency Provision: A three tier proclamation of emergency by the President of India namely – National Emergency (Article 352), State Emergency (Article 356) and Financial Emergency (Article 360) dilutes the state governments and concentrates powers in the hands of the Centre. Under the emergency situation the federalism disappears and unitary form prevails.

CLASH OF FEDERALISM AND UNITARY FORM

The co-existence of unitary form and federal structure in Indian polity has been creating clashes between the Union Government and the state governments from time to time. The Constitution in its Part – X, by insertion of Article 244A by twenty-second amendment in 1969 has also provided for the formation of an autonomous state comprising any or all parts of Tribal areas in Assam.

Moreover, in the directive principles, there is advocating of panchayats in villages by endeavoring powers on the panchayats. The provisions of panchayats, autonomous state or local state governance are creating scope for federalism.

As a result there is always possibility of clashes between the Union Government and the State Governments. Due to the co- existence of unitary and federalism structure together, the states may feel that the interference of the Union is unnecessary and such interference is a domination of union over the states.

But to protect the integrity of the country the supreme control of the Union is unavoidable. Indian federalism is not “indestructible Union of the indestructible states”, rather it is “indestructible union of destructible states”. Thus, Indian federalism is binding threads of this integrate India which is a union of 29 states and 7 union territories.

In S.R. Bomai Vs. Union of India AIR 1994 SC 1918, this landmark case has great impact of the centre – state relationship. It was held that the presidential proclamation, under Article 356, is not absolute and powers conferred by Article 356 on the President are conditional powers. The presidential proclamation is not immune from judicial review.

Thus India’s Union Government is just like the parental body of 29 states and 7 union territories. The Union must allow the states and union territories to grow in every sphere but it cannot grant sovereignty to any of the states as it is a great threat to the unitary soul of India. The Union can have reasonable interference into the matters of the states if such interference is in national interest. But at the same time unnecessary dominance will create adverse centre – state relationship.

CONCLUSION

India believes in integrity, in fact, integrity is the power of India. If the integrity is uprooted, India would break into hundred pieces. Therefore, the makers of the Constitution tactfully established a quasi federalism form of governance, so that it can harmonize the diverged political entities, separate autonomous districts and put everyone under one roof, yet building separate rooms for its diverged people. So, India’s unitary federalism is like a multistoried building yet under the same roof.

BIBILIOGRAPHY

1. Gohain, Nabin and Das, Dipen: Bharatiya Sarkar Aru Rajneeti, 3rd Edition, Bidya Bhawan, 2015

2. Kashyap, Subhash C., translated in Assamese by Baruah, Gun: Amar Sangbidhan, 4th Edition, NBT, ISBN: 978-81-237-3438-5, 2014

3. Internet Sources, https://en.m.wikipedia.org,

Saturday 18 January 2020

Theory of Corporate Governance Meaning, Structure, Mechanism in India Notes

theinfobell January 18, 2020 Business & Commerce , 0 Comments

CORPORATE GOVERNANCE THEORY, STRUCTURE, MECHANISM IN INDIA NOTES |COMPANY LAW

CONTENT

CORPORATE GOVERNANCE THEORY

STRUCTURE OF CORPORATE GOVERNANCE IN INDIA

CORPORATE GOVERNANCE MECHANISM IN INDIA

Corporate Governance Theory notes

Corporate Governance Theory

Corporate Governance is a new way of conducting business affairs. Corporate Governance has become a new dimension to Business management and it presents a new outlook of the corporate houses and also becomes a desirous part of annual reports. It has laid a new trust-building among the stake-holders. Ever since India’s biggest ever corporate fraud and Governance failures in Satyam Computer service limited, the concern about good corporate governance has increased significantly.

Internationally, the implementation of corporate Governance was exercised phenomenally.

The organization for Economic co-operation and Development (OECD) in 1999 published a paper titled “Principle of Corporate Governance” which defined Corporate Governance very comprehensively as follows-

“A set of relationships between a company’s management, board, its shareholders, and its other Stakeholders".

Corporate Governance is the structural basis of an organization through which the objectives of a company are marked and the means of obtaining those objectives and monitoring performance are ascertained. Good Corporate Governance should provide proper incentives for the board and the management to pursue objectives that are in the interests of the company and the shareholders and should facilitate effective monitoring, thereby encouraging firms to use resources mere efficiently.

STRUCTURE OF CORPORATE GOVERNANCE

In the Indian Scenario, the term Corporate Governance was first coined by the Confederation of Indian Industry in 1998 in its paper titled “ Desirable Corporate Governance: A code" as a voluntary code. Later in 2000 SEBI made it mandatory by introducing clause 49 to listing agreement following the recommendation of Kumar Mangalam Birla Committee. At present, the structure of Corporate Governance is prescribed by the New Companies Act, ICAI accounting standards which are converged with IFRS, SEBI guidelines.

Every company must adhere to the necessary disclosure requirement as required by the various Statutes/regulations or regulatory bodies. The structure of good Corporate Governance must incorporate information as follows:-

     1)      Right of the Shareholders

                 Corporate Governance must specify the rights of the shareholders

           (a) To attend and participate in the annual general meetings, to elect the board members and to receive dividends, to avail timely regular and accurate information.
          (b) Right to transfer shares
          (c) To know the capital structure
          (d) Capital control mechanism
          (e) Adherence to one share, one vote standard. International investors and institutional investors have proxy rights.



     2)      Equitable treatment of the shareholders:-

         All shareholders including the minority shareholders must receive equitable treatment.
         Effective redressal for rights violations.
         Prohibition of insider trading and self-dealing.

      3)      Role of Stakeholders-

          (a) Recognition of their rights as prescribed by law.
          (b) Access to information.
          (c) Building good and produced a relationship with them by the directors or the management.
          (d)Establishment of effective and enforceable accountability standards.
       4)      Disclosure and Transparency:

Accurate and timely disclosure of the company’s objective, majority share ownership, and voting rights; financial and operating results; directors key executives and their remuneration; significant, foreseeable risk factors; governance structure and practices; material issues regarding employees and other stakeholders. Annual audits by internal statutory auditors must be adhered to.

       5)      Responsibility of the Board of Directors:

Must specify key responsibilities of the board of directors overseeing the process of disclosure and communication, monitoring the effectiveness of governance practices, and changing them if necessary. The judgment of directors, independent of management operation, formation of the board, and their remuneration, etc must be disclosed.

The structure of Corporate Governance in India is a result of many statutory and non-statutory bodies' joint efforts. Some of the Contributory to it is named as below :

(i)                 Working Group or the Companies act, 1996.

(ii)               The confederation of Indian Industry (CII) initiative

(iii)             Naresh Chandra Committee Report (2002)

(iv)              Kumar Mangalam Birla Committee Report (1999)

(v)                The SEBI’s follow up on Birla Committee Report.

(vi)              Taskforce on corporate excellence (NOV,2000)

(vii)            Narayan Murthy Committee Report (2003)

(ix)              A convergence of Accounting Standard Of India with IFRS which was initiated by ICAI in April 2011.

(x)                The new Companies act called Companies Act,2013.

MECHANISM OF CORPORATE GOVERNANCE IN INDIA

Broadly speaking, the corporate governance mechanism for companies in India is enumerated in the following enactments/regulations/guidelines/listing agreements:

1.       The Companies Act ,2013 inter alia contains ,provisions relating board constitution ,board meetings ,board processes ,independent directors,general meetings,audit committees ,related party transactions,disclosure requirements in financial statements etc.The new companies cover the concept of corporate governance in the following way:

(i)                 The new act introduces significant changes to the composition of the board of directors.

(ii)               Every company must appoint at least one resident director.

(iii)             Nominee director shall not be considered as an independent director anymore.

(iv)              The listed companies must appoint independent and women directors.

(v)                The duties of the directors are codified.

(vi)              The board must constitute its committees as

·         Audit committee

·         Nomination and remuneration committee

·         Stakeholders Relationship committee

·         Corporate Social Responsibility committee.

2.       Listing Agreement as prescribed by SEBI:- SEBI introduced clause 49 to its listing agreement in 2000 to give a true and fair view of GCR for the listing companies. Further SEBI has amended the listing agreement w.e.f. October 1,2014 to align the New Companies Act,2013.

                                                                    I.            Board of Directors:- The B.O.D. shall comprise of such a number of minimum independent directors, as may be prescribed.

                                                                  II.            Audit Committee: The audit committee to be set up shall comprise of a minimum of three directors as members,two-third being independent.

                                                                III.            Disclosure Requirement: Periodical disclosure relating to the financial and commercial transactions, remuneration of directors etc.to ensure transparency.

                                                                IV.            Report and compliance: A separate section in the annual report on compliance with the GCR, quarterly compliance report to the stock exchange to be signed by CEO/CFO.

                                                                  V.            CEO/CFO Certification: To certify to the board that they have reviewed the financial statement and the same are fare and comply with the laws/regulations and accept responsibility for the internal control system.

3.       Accounting Standard issued by the Institute of Chartered Accountant of India (ICAI):

      ICAI is an autonomous body, which issues accounting standards providing guidelines for disclosure of financial information. Section 129 of the New Companies Act,2013 inter alia provides that the financial statements shall give a true and fair view of the state of affairs of the companies comply with the accounting standard notified under section 133 of the companies Act,2013.

4.       Secretarial Standards issued by the Institute of Company Secretaries of India(ICSI):

ICSI is an autonomous body, which issues secretarial standards in terms of the provisions of the Companies Act,2013. So far, the ICSI has issued Secretarial Standards in terms of the “Meetings of the Board of Directors” (ss-1) and Secretarial Standards on “General Meetings” (ss-2), these Secretarial Standards have come into force w.e.f. ,1st of July,2015. Section 118 (10)of the companies act,2013 provide that every company(other than a one-person company-OPC) shall observe Secretarial Standards specified as such by the ICSI.

Tuesday 14 January 2020

Bhogali Bihu Best Wishes in Assamese 2020, Magh Bihu Greetings in Assamese

theinfobell January 14, 2020 Trending , 0 Comments

Bhogali Bihu Best Wishes in Assamese 2020, Magh Bihu Greetings in Assamese

Bihu Wishes 2020

About Bihu

Assam is a state that sits by beauty of nature. It is big valley amidst six other hilly states of North East. The mother nature has carefully decorated its plains, rivers, forest and wild species of rare animals.

Apart from its natural beauty, Assam has a rich profile of culture. It is enriched with folk songs to folk celebrations. Unique style of dance supported by land originated folk tunes, on beats of its self styled folk instruments.

Bhogali Bihu Best Wishes in Assamese 2020, Magh Bihu Greetings in Assamese

The joyful Assamese Community has unique celebration named Bihu. An age long customary celebration, Bihu is a form to express their divine joy. It is celebrated in three different shades in three different point of time in a year. Bohag or Rongali Bihu, Kati or Kongali Bihu and Magh or Bhogali Bihu.

About Magh Bihu

Magh Bihu is the celebration of lavishness by the Assamese community after they accomplish harvesting a plentiful quantity of rice. Magh Bihu is celebrated in January. As per Assamese calendar it Pausha Maah's end and beginning of Magh Maah. India celebrates Sankranti this day. It generally falls on January 14 every year or nearby this date.

The Assamese Community has a unique set of custom to celebrate Magh Bihu or the Bihu of Lavishness.

List of Customs largely followed during Magh Bihu

The young boys of the village make a thatched hut called Bhelaghar.
They also arrange a big pile of wood sticks to create a bone fire on the day of Magh Bihu
On the eve day of Magh Bihu they arrange for a grand feast and it is called "Uruka Bhuj" in local language.
The feast is full of fun. The playing of Bihu drums and melodious Bihu songs doubles the fun of the folks.
The early morning, on the day of Sankranti they set fire to that pile of wood sticks which is called Meji.
The village women prepare delicious Bihu dishes, mainly rice pastry, sweet roles made of rice flour, sphere shaped sweets made of coconut pastes etc.