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wainwrightjakobshammerlock · 17 days

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GODDD YOUR BRAIN. a lot of what you said is stuff ive been thinking about for literal years and esp now with my most recent playthrough of 1 and 2. the video was great and i also found a pdf for orientalism that i will be picking through as i have the time for it. ive had a post in my drafts ive been working on for a few days. specifically about how the crimson raider leadership (excluding moxxi and including the vault hunters) is comprised entirely of corporate settlers and how that still absolutely fuels their ideology when it comes to the bandit clans. tannis, zed, and pierce are all dahl, marcus has been both siding every conflict since the beginning of mankind, and roland and the ENTIRE military force of the crimson raiders (excluding the vhs) are atlas leftovers. and ofc its seen as necessary because there needs to be bodies between them and hyperion so every injustice against the planet is forgiven. its hardly even mentioned. even moxxi, who is pandoran born, profits in just. outright massacring the population with her fighting rings. (the underdome was sponsored by every corporation, including the shield manufacturers.) the desire that the raiders have to protect pandora just feel like protecting the. thirty or so people who live with them because everyone else is seen as not worthy to the point where mass execution and displacement is encouraged. im not going to talk about bl3 because im a bit rustier on it at this point but in FFS thats an issue brought up at the very start of the dlc: the crimson raiders are losing power and arent needed anymore because jack is gone. like they arent doing any great help to the planet. theyre not even wanted by the end of 2. side tangent but the two things that stand out to me the most on first thoughts are: destroying the eridium mine supplying sledges men in one (after already killing him and half the settlement) and doing straight up environmental warfare in 2 when freezing out the bloodshots. its just unnecessary cruelty. im sorry for taking so long to type this out i have. untreated adhd 😔

No no no it's okay speak your mind!!!

Also some additional things I didn't have the place to say in my answer:

One, you could very easily interpret bl1 and particularly bl2 as an extended metaphor for American destabilization and subsequent media treatment of the Middle East. Except Gearbox themselves is parroting the in-universe perception of Pandora as a "barren wasteland where nobody lives", i.e. the myth of terra nullius. Despite all evidence to the contrary.

Two, 2 specifically has an anti-colonialist narrative. Handsome Jack is a colonizer and you oppose him. But within this opposition is a DISTINCT subtext of "yeah he wants to kill off the bandits of Pandora but he also considers the Normal People, like Salvador and your friends to be bandits!", not "bandits are also humans with dignity". I'm not sure if the former is the conclusion the writers want you to arrive at, but it kind of feels like it.

Three, if I remember correctly the first time a tink (xenohuman/mutant) was not presented as part of the subhuman orientalized faction was fucking New Tales. And I think there was one in Debt or Alive as well (including a tongue in cheek joke about how calling your enemies slurs is kinda bad actually). Yet again, either the writers can't comprehend someone disabled in a not-"cool scifi" way being human, or the Borderlands universe has ridiculous amounts of ableism and baseliner supremacist (can you tell I love Rimworld's terminology for this sort of stuff) sentiment. But homophobia isn't real so that's funny haha right guys??????

As for 3... yeah there isn't much there. Ellie tells us that Pandora has been drained of all resources, Tyreen tells us what I already addressed, fucking Vaughn man. I'm sure I could say smth more coherent on all that but I can't rn, brain fried.

Then there's the Looters and Frostbiters and Devil Riders, who for gameplay purposes are reskinned bandits for the DLCs, but they aren't stated to be bandits for... what reason exactly, aside from geographic isolation (all the other bandits across the galaxy are universally homogenized so...)? I mean, frostbiters even associate into clans like bandits do...

And I do highly suggest you read Orientalism, it's a foundational text in post-colonial studies for a reason, but I find that it also applies incredibly well to media analysis :)

#fourth wall mail slot #mohavegecko #borderlands #jakobs manor metas

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sinfulscream · 9 months

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character essay: topaz from honkai star rail

strap your seat belt in, we're going for a ride.

topaz is a debt collector.

now you may start thinking: did belobog commit a tax fraud? if so, how? i thought this was a very interesting thought process. because have you ever considered interplanar debt or financial settlements in sci-fi media? unless if they were sky pirates or very simple transactions of sale and purchase - it is often not explored and perhaps, most might even consider it not interesting.

for those who played the game and dedicated their time to the events, you'll find and agree that the influence of the interastral peace corporation (ipc) is wide - considering they hold a stake in an underused freight vehicle for the aurum alley business event. the ipc was also painted as calculating, for wanting to take back not only the freight vehicle, but any semblance of a bustling city. the ipc is a capitalist loaning body, driven by its "philanthropy", until it's time to reap the benefits."

when topaz walked into the story, that painting proves to have more details - more than just freight vehicles, the ipc could do more than just assistance in business, but repairing an entire planet.

topaz's exterior personality leaves readers with quite literally no hint to who she is or where is she from, aside from her love for animals, but playing the story leaves you to find out that she came from a heavily polluted planet that the only choice left was to leave everything to the ipc. however, it was also because of this upbringing and story that topaz would prioritise survival, more than its people's freedom. after all, protection from natural disaster as well resource allocation for a planet's rebuilding is a tempting deal - especially for belobog, that had only recently been cleared from its stellaron crisis.

not only that, belobog had also borrowed funds from the ipc prior to the planet's isolation from the rest of the world due to its extreme weather. the contract topaz offered to rebuild belobog and employ its citizens under the ipc would clear the arrears owed for over seven centuries.

despite the ipc's opportunistic nature as a body, topaz came to belobog and spoke to bronya with unmatched sincerity. topaz was a character that did not come from a privileged place, yet took the steps to dance alongside the work opportunity she was provided with. even if the contract offered by the ipc was tempting, even she was amazed by the thriving spirit of belobogians, looking toward a future with their intelligence and enduring the coldest blizzards. she could no longer compare the environment between jarilo-vi and her home planet.

despite having objectively failed her mission, she was humble, and did not assert her task more than necessary. if this was what the people of belobog wanted, then she would not force it upon them.

which comes at the cost of her current position, and she was demoted by one rank. even so, she still found beauty on this planet.

as a character, one would assume that her position meant she was always out for money, but she herself said that she was past working for the money, and thus did not mind the pay cut that came with her demotion. but more than that, she maintains a headstrong personality through it all - a marketing expert who knew how to use her story to resonate with potential clients, yet endearing for her love of animals.

she is also noted to be very capable and places the interest of the planet's ahead of work - the probability of success among her planet projects stood at 80%, higher than the ipc's average of 60%.

topaz is a multifaceted businesswoman: friendly with her network, assertive with her staff, a marketing expert and most of all, good-natured. as an experienced businesswoman, her story clashes at the differences in culture and ideals against bronya, a fresh-faced leader trusted by her subjects.

this blog entry was originally posted on stormofblood.

#honkai star rail #hsr #topaz (hsr)#character essay }#character: hsr

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thepastisalreadywritten · 2 years

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Toronto in the 1900s was a different city from the one we know today.

The center of business had moved west of the historical Town of York site and the skyline was undeveloped.

The tallest structures were the Temple Building at 10 stories and the Trader’s Bank Building at 15 stories.

A new downtown to the west of Yonge and King Streets was built. The City of Toronto moved into a new City Hall, built at the head of Bay Street at Queen Street.

Much of this new downtown was destroyed in the Great Toronto Fire of 1904, but it was quickly rebuilt, with new taller buildings.

South of downtown, the railways dominated most of the lands. A new viaduct was built to carry the main lines and eliminate the many at-level crossings.

A single Union Station was built to replace the several railway stations of the rail lines. It sat empty for a while over disagreements between the government and the rail companies.

In the late nineteenth century, Toronto welcomed the rise of Victorian architecture, as well as many of its revival styles.

This style of architecture was thought to be more modern, unique and creative than its successor, characterized by steep gabled roofs, round angles, towers, turrets and dormers, shapely bay windows, stained glass, centric carved woodwork, and bright colored paneling.

This style lent itself well to narrower lots, and thus, Victorian-style housing was most abundant in the city’s traditionally middle-class neighborhoods where individual properties were smaller, most notably Cabbagetown, Trinity-Bellwoods, Parkdale, and The Annex.

These neighborhoods held some of the largest collections of Victorian houses in North America.

Specifically, houses constructed in the Annex developed an individual iteration of the Victorian style, called the “Annex Style House.”

This style contained a variety of diverse and eclectic elements borrowed from many different styles.

Most distinctively, these houses were built of a mix of brick and sandstone, turrets, domes, and decorative ornamentation.

The city received new European immigrant groups beginning in the late 19th century into the early 20th century, particularly Germans, French, Italians, and Jews.

They were soon followed by Russians, Poles, and other Eastern European nations, in addition to the Chinese entering from the West.

As the Irish before them, many of these migrants lived in overcrowded shanty-type slums, such as “the Ward,” which was centered on Bay Street, now the heart of the country’s Financial District.

As new migrants began to prosper, they moved to better housing in other areas, in what is now understood to be succession waves of settlement.

Despite its fast-paced growth by the 1920s, Toronto’s population and economic importance in Canada remained second to the much longer-established Montreal, Quebec.

The Great Depression of the 1930s reversed the employment trend, with approximately one-fourth of the Toronto population unemployed and caused severe financial problems for suburban Toronto.

Capital debt payments could not be met and expenditure on public services—sewage and piped water supply in places remote from the lake, for example—had to be postponed.

However, World War II’s demands for war supplies and soldiers soon changed the employment picture.

Following the war, and into the 1960s, times were prosperous throughout North America.

Toronto’s economy diversified and boomed, greatly altering the cultural and spatial pattern of the city.

Other factors after the war included the baby boom, demand for single-family dwellings, and the proliferation of the automobile.

Suburban sprawl was assisted by the increase in road networks and freeways, thereby consuming some of the best agricultural land in the region.

By 1953, a reorganization of local government had been created, along with the Corporation of Metropolitan Toronto, in an attempt to control development in the surrounding regions.

Suburban growth continued. In 1966, new City of Toronto boundaries were drawn, amalgamating 13 communities, with the Metropolitan government still in place.

By the 1976 census, Toronto passed Montreal to become the largest city in Canada, and the gap between these two cities continued to grow.

(Photo credit: City of Toronto Archives / BlogTO / Wikimedia Commons / Britannica / Flickr).

Updated on: February 6, 2023

#Toronto #1900s #20th century #Great Toronto Fire of 1904 #Victorian architecture #Annex Style House #19th century #Great Depression of the 1930s #Rare Historical Photos #vintage photos #Victorian houses

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female-malice · 2 years

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Manifesto for an Ecosocial Energy Transition from the Peoples of the South

An appeal to leaders, institutions, and our brothers and sisters

More than two years after the outbreak of the COVID-19 pandemic—and now alongside the catastrophic consequences of Russia’s invasion of Ukraine—a “new normal” has emerged. This new global status quo reflects a worsening of various crises: social, economic, political, ecological, bio-medical, and geopolitical.

Environmental collapse approaches. Everyday life has become ever more militarized. Access to good food, clean water, and affordable health care has become even more restricted. More governments have turned autocratic. The wealthy have become wealthier, the powerful more powerful, and unregulated technology has only accelerated these trends.

The engines of this unjust status quo—capitalism, patriarchy, colonialism, and various fundamentalisms—are making a bad situation worse. Therefore, we must urgently debate and implement new visions of ecosocial transition and transformation that are gender-just, regenerative, and popular, that are at once local and international.

In this Manifesto for an Ecosocial Energy Transition from the Peoples of the South, we hold that the problems of the Global – geopolitical – South are different from those of the Global North and rising powers such as China. An imbalance of power between these two realms not only persists because of a colonial legacy but has deepened because of a neocolonial energy model. In the context of climate change, ever rising energy needs, and biodiversity loss, the capitalist centers have stepped up the pressure to extract natural wealth and rely on cheap labor from the countries on the periphery. Not only is the well-known extractive paradigm still in place but the North’s ecological debt to the South is rising.

What’s new about this current moment are the “clean energy transitions” of the North that have put even more pressure on the Global South to yield up cobalt and lithium for the production of high-tech batteries, balsa wood for wind turbines, land for large solar arrays, and new infrastructure for hydrogen megaprojects. This decarbonization of the rich, which is market-based and export-oriented, depends on a new phase of environmental despoliation of the Global South, which affects the lives of millions of women, men, and children, not to mention non-human life. Women, especially from agrarian societies, are amongst the most impacted. In this way, the Global South has once again become a zone of sacrifice, a basket of purportedly inexhaustible resources for the countries of the North.

A priority for the Global North has been to secure global supply chains, especially of critical raw materials, and prevent certain countries, like China, from monopolizing access. The G7 trade ministers, for instance, recently championed a responsible, sustainable, and transparent supply chain for critical minerals via international cooperation‚ policy, and finance, including the facilitation of trade in environmental goods and services through the WTO. The Global North has pushed for more trade and investment agreements with the Global South to satisfy its need for resources, particularly those integral to “clean energy transitions.” These agreements, designed to reduce barriers to trade and investment, protect and enhance corporate power and rights by subjecting states to potential legal suits according to investor-state dispute settlement (ISDS) mechanisms. The Global North is using these agreements to control the “clean energy transition” and create a new colonialism.

Governments of the South, meanwhile, have fallen into a debt trap, borrowing money to build up industries and large-scale agriculture to supply the North. To repay these debts, governments have felt compelled to extract more resources from the ground, creating a vicious circle of inequality. Today, the imperative to move beyond fossil fuels without any significant reduction in consumption in the North has only increased the pressure to exploit these natural resources. Moreover, as it moves ahead with its own energy transitions, the North has paid only lip service to its responsibility to address its historical and rising ecological debt to the South.

Minor changes in the energy matrix are not enough. The entire energy system must be transformed, from production and distribution to consumption and waste. Substituting electric vehicles for internal-combustion cars is insufficient, for the entire transportation model needs changing, with a reduction of energy consumption and the promotion of sustainable options.

In this way, relations must become more equitable not only between the center and periphery countries but also within countries between the elite and the public. Corrupt elites in the Global South have also collaborated in this unjust system by profiting from extraction, repressing human rights and environmental defenders, and perpetuating economic inequality.

Rather than solely technological, the solutions to these interlocked crises are above all political.

As activists, intellectuals, and organizations from different countries of the South, we call on change agents from different parts of the world to commit to a radical, democratic, gender-just, regenerative, and popular ecosocial transition that transforms both the energy sector and the industrial and agricultural spheres that depend on large-scale energy inputs. According to the different movements for climate justice, “transition is inevitable, but justice is not.”

We still have time to start a just and democratic transition. We can transition away from the neoliberal economic system in a direction that sustains life, combines social justice with environmental justice, brings together egalitarian and democratic values with a resilient, holistic social policy, and restores an ecological balance necessary for a healthy planet. But for that we need more political imagination and more utopian visions of another society that is socially just and respects our planetary common house.

The energy transition should be part of a comprehensive vision that addresses radical inequality in the distribution of energy resources and advances energy democracy. It should de-emphasize large-scale institutions—corporate agriculture, huge energy companies—as well as market-based solutions. Instead, it must strengthen the resilience of civil society and social organizations. Therefore, we make the following 8 demands:

We warn that an energy transition led by corporate megaprojects, coming from the Global North and accepted by numerous governments in the South, entails the enlargement of the zones of sacrifice throughout the Global South, the persistence of the colonial legacy, patriarchy, and the debt trap. Energy is an elemental and inalienable human right, and energy democracy should be our goal.

We call on the peoples of the South to reject false solutions that come with new forms of energy colonialism, now in the name of a Green transition. We make an explicit call to continue political coordination among the peoples of the south while also pursuing strategic alliances with critical sectors in the North.

To mitigate the havoc of the climate crisis and advance a just and popular ecosocial transition, we demand the payment of the ecological debt. This means, in the face of the disproportionate Global North responsibility for the climate crisis and ecological collapse, the real implementation of a system of compensation to the global South. This system should include a considerable transfer of funds and appropriate technology, and should consider sovereign debt cancellation for the countries of the South. We support reparations for loss and damage experienced by Indigenous peoples, vulnerable groups and local communities due to mining, big dams, and dirty energy projects.

We reject the expansion of the hydrocarbon border in our countries—through fracking and offshore projects—and repudiate the hypocritical discourse of the European Union, which recently declared natural gas and nuclear energy to be “clean energies.” As already proposed in the Yasuni Initiative in Ecuador in 2007 and today supported by many social sectors and organizations, we endorse leaving fossil fuels underground and generating the social and labor conditions necessary to abandon extractivism and move toward a post-fossil-fuel future.

We similarly reject “green colonialism” in the form of land grabs for solar and wind farms, the indiscriminate mining of critical minerals, and the promotion of technological “fixes” such as blue or grey hydrogen. Enclosure, exclusion, violence, encroachment, and entrenchment have characterized past and current North-South energy relations and are not acceptable in an era of ecosocial transitions.

We demand the genuine protection of environment and human rights defenders, particularly indigenous peoples and women at the forefront of resisting extractivism.

The elimination of energy poverty in the countries of the South should be among our fundamental objectives—as well as the energy poverty of parts of the Global North—through alternative, decentralized, equitably distributed projects of renewable energy that are owned and operated by communities themselves.

We denounce international trade agreements that penalize countries that want to curb fossil fuel extraction. We must stop the use of trade and investment agreements controlled by multinational corporations that ultimately promote more extraction and reinforce a new colonialism.

Our ecosocial alternative is based on countless struggles, strategies, proposals, and community-based initiatives. Our Manifesto connects with the lived experience and critical perspectives of Indigenous peoples and other local communities, women, and youth throughout the Global South. It is inspired by the work done on the rights of nature, buen vivir, vivir sabroso, sumac kawsay, ubuntu, swaraj, the commons, the care economy, agroecology, food sovereignty, post-extractivism, the pluriverse, autonomy, and energy sovereignty. Above all, we call for a radical, democratic, popular, gender-just, regenerative, and comprehensive ecosocial transition.

Following the steps of the Ecosocial and Intercultural Pact of the South, this Manifesto proposes a dynamic platform that invites you to join our shared struggle for transformation by helping to create collective visions and collective solutions.

We invite you to endorse this manifesto with your signature.

#cc

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cloudbattrolls · 1 year

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Eat Your Young

Gallen | Suunaq Industrial Complex | Present Night

A sprawling industrial complex covered the plain, its buildings and roads nearly equaling the size of a small town.

It had stood there longer than some of the actual settlements in the surrounding area, growing piece by piece over several millennia. Power plants and offices jostled for space, interspersed with streets that had been paved and patched more times than anyone could count. Everything was kept in a state of high repair; the finest quality droids maintained the infrastructure, though there were no imperial drones to be seen.

Ever since its earliest nights, the complex had been filled white butterflies that did not seem to feed from or pollinate any flowers; not that there were many to be found in such a place. Any attempts to catch and study them ended in the insects dissolving to nothing, so trolls let them be.

Most didn’t have the time or energy to wonder about what little wildlife surrounded them to begin with.

For marked over each of the complex’s entrances, on the identification cards of all the trolls who worked in that place, was the jade symbol of QPIN - each and every troll there in the corporation-gang’s debt.

Debts paid - in part - by blood.

Debts paid to one of the Queenpin’s right-hand executives, Inshii Suunaq.

—

Three tall figures gathered under the glare of a street lamp, all coming from different directions.

A woman, hourglass-shaped with a band covering her eyes and a cowgirl hat on her head, dressed in a crop top and shorts. A man, broad and powerfully built, wearing only knee-length shorts and no shirt. A person dressed in a beautiful violet sherwani, the tallest of all, wide with soft roundness instead of the man’s dense bulk.

The woman spoke first as they faced each other on the sidewalk, the night air quiet around them.

“Damn, I hate this place.” Rhyssa complained, hands on her hips. “I can’t even see it proper and I still hate it. Would it kill ya to decorate a bit, Shii? The vibes are just awful.”

“I don’t have time for excessive frivolity.” Responded the false violet in a deadpan as they led the other two away. “Trolls can put up ornamentation if they like; I don’t forbid them. Excessive levels of depression are unproductive.”

Rhyssa groaned as she followed, her boots’ spurs jingling softly. “Sugar, you’ve been contributin’ to depression in trolls for a long time without tryin’. I love you, but ya are kind of a robot when it comes to fixin’ a place up.”

Gallen hung back a few steps as the three of them made their way down the sidewalk, letting the other two banter. He was grateful he couldn’t speak, and that he likely wouldn’t be asked to sign very much, or type; if his siblings picked up on his dread, everything was over.

Everything might still be over if he couldn’t carry out the plan Klirro and Tuuya had concocted for him. All his isopods wriggled anxiously in his skin, though he tried not to let it show.

Rhyssa hung back, head tilted, the wasps fluttering around her to serve as her eyes buzzing in concern.

“What’s eatin’ ya, Gal?”

Oops.

I don’t know how things are going to be from now on, he signed honestly.

I hope this makes mother better, but what if it makes her worse? What will we do? How can we care for her? For once, I wish we were more like trolls. Trolls know how to tend to their lusii and quadrants.

All we were ever meant to do was serve her.

We were never taught anything else. Unlike Lleios, we weren’t given the ability to learn much beyond what we were made to do.

I think she did that on purpose, he signed, suddenly angry as he had the thought, eyes narrowing, gestures sharper. I think she wanted to keep us dependent.

She let me learn about religion, she let me watch trolls come to my altar all those sweeps, but she knew I could never truly understand them.

Only Lleios could.

Gallen looked at Rhyssa, whose hand touched her mouth in shock at his words, and he saw that Inshii had stopped walking, looking back at the pair of them as their fins flicked.

The isopod swarm folded his broad arms, blue eyes hard. He wasn’t backing down.

Even if it weren’t for the mission, even if Klirro had never found him, even if he had wound up killing Tuuya after all - these doubts had brewed for centuries, and he was done ignoring his problems.

“Gal! What’s all this hullabaloo?” Rhyssa protested, her own hands flapping in distress as she buzzed with worry. “Where’d this come from all of a sudden, huh? You’ve never - never said a blessed thing - ”

“Now is not the time for such topics.” Cut in Inshii, hard enough that their sister’s hands dropped and her buzzing quieted. She folded her arms, sullenly silent, and Gallen stared the butterfly swarm down, their violet eyes hard.

“Gallen…we will discuss this later.” His oldest sibling’s tone held a practiced neutrality, one he knew was barely holding back anger. Their fins twitched almost imperceptibly, but he caught it.

“Mother needs us now, and she needs us united.”

As if they’d been properly united for sweeps. As if they’d really acted together since Lleios had died.

Killed by a troll, of all things. A troll they had loved. A troll who betrayed them…yet they had wanted him to, so they could die.

Gallen’s fists clenched at the way his youngest sibling had chosen to leave the rest of them behind. If they hadn’t done that, none of this would have happened.

The cold pavement cut his bare feet repeatedly, as it usually did. What did he care? He regenerated his skin nigh instantly, barely noticing as the three swarms drew closer to Inshii’s laboratory.

The thick glass doors slid open with a slight hiss as the false violet led the way in after flashing their ID to a scanner, barely making any sound despite their size. Gallen squinted as they walked into the harsh lighting and gray-white walls and floors, the smell of disinfectant prominent.

There were a few trolls to be seen, but most of Inshii’s staff here were highly specialized robots. The ones that were present shied away from the trio automatically. There wasn’t any fear on their faces or in their movements; they did it instinctively, knowing better than to be close.

“Can we at least eat before this?” Commented Rhyssa, slightly impatient. “I’m assumin’ those ain’t snacks, and I’m peckish.”

“Obviously those aren’t snacks.” Said Inshii in a slightly weary tone of voice. “Food doesn’t work in the laboratory. If you knew anything about science you’d understand just how intensive and time consuming this process has been to replicate. I’ve needed my finest staff on this and had to hire a few extras, which is not kind to my payroll.”

“Ooh, lemme play ya a song on m’banjo, saddest one in the history of the empire, Shishi.” Said Rhyssa, singsong and mocking, actually taking out her instrument as if she was about to start strumming.

Inshii rolled their eyes and ignored her, so Rhyssa pouted and put it away.

Gallen stopped and looked around, not in any hurry to get to what came next. He put his hands in his shorts’ pockets, feeling for the hundredth time that the vial of cloudy liquid was still there.

“Come on.” Called Inshii impatiently. “You’d think we were dragging you to an atheist convention.”

He opened his mouth to huff silently, not wanting to let himself feel amused, and kept walking.

He couldn’t. He had to…he had to…

Gallen twisted inside, hundreds of small legs wriggling and grasping at each other.

He followed his oldest sibling, just like he always had for millennia.

Obedient Gallen. Peaceable Gallen.

Even before mother had taken his tongue, he’d always been like that.

Inshii led him and Rhyssa down a narrow hallway, their precise steps echoing in the near-silence. The faint buzz of electric illumination was the only sound.

Then the lights flickered for a second.

Gallen blinked, looking at his sibling inquiringly. Inshii sighed, their brightly colored fins flicking.

“That’s how much power this has taken. We have backup generators, more than enough…but that’s happened plenty of times over the past few perigees. All Lifeweaver had to do was make a troll body that could meld with a swarm. I’ve had to achieve far more than that.”

“What d’ya mean?” Rhyssa asked, sounding genuinely curious as she ran a finger through her shoulder-length hair.

Inshii’s eyebrows raised in mild surprise, but they stopped, facing their sister with their arms crossed.

“When Mother fell and fused with a mother grub, she became undead. Etuuya was alive when they were merged with Lleios’s remains, integrated over multiple operations so they wouldn’t die of shock or blood loss.

I don’t have that luxury; she’s weak and unstable enough that if I fail now, I might not be able to try again and keep her mind intact.

She can’t be killed…but suffering eternally in that carcass of a body, her mind slipping more and more until she forgets us all? She might wish she was dead.” The butterfly swarm said bluntly.

Rhyssa had taken her hat off to hold it, as a gesture of respect. Gallen bowed his head to go along with her, and so he could compose himself.

Klirro was right. Tuuya was right. Everything Inshii said confirmed it.

If he could do this, even with the hell that would come of it, everything would get better.

His hands shook as Rhyssa put her hat back on.

Inshii’s face softened slightly, an unusual sight.

“Don’t worry, Gallen.” They said in a marginally warmer tone, as caring as they had been capable of since the ten had died all those sweeps ago.

“I’ve accounted for everything; I will not fail. She’ll finally be well again.”

No, they hadn’t accounted for everything. They had no idea what their little brother had in his pocket. A substance modeled from the same scientific notes Inshii had used for this project.

Another one of Rhomox Vannyn’s discoveries.

Inshii kept walking a little longer, then stopped in front of a plain gray, unmarked door, flashing their ID card at a scanner once more.

Gallen would have whistled if he could, so instead it was tuneless air blown through his lips as he walked inside, and Rhyssa herself made a softly impressed ‘aaah.’

Inshii looked a bit smug, despite their sibling’s frequent insistence that they didn’t indulge in such trollish things.

The space was vast, a tangle of pipes, vats, and scientific equipment whose names the isopod swarm couldn’t even begin to guess at. Dials all over the room glowed from within, and somewhere a machine beeped softly in long intervals.

Long hair flowing as they moved more quickly, the false seadweller walked over to the largest vat of all, one taller than their nearly eight foot height, horns aside.

Gallen knew, with a sudden surge of fear, that that was it.

Rhyssa turned completely toward it as well, the wasps she used to see beating their wings frantically as they hovered over her shoulders.

Inshii looked at the various readout screens on the vat and what they saw must’ve pleased his oldest sibling because they nodded and took out a beautiful old glass container shaped like a chrysalis. The glass shone jade and white where it was not clear.

Gallen shuddered as he saw several of his mother’s green flukes wriggling within. Just like the one that had taken over Tuuya.

Wait.

He signed a question.

Isn’t that -

“Vassiq’s work, one of the last she ever made.” Said Inshii quietly, holding the container with reverence. “One of the few we have left.”

Gallen couldn’t cry as trolls did. He had no heart.

Still he trembled, isopods pressing against his skin.

Vassiq. The fly. Dead because she’d tried to kill Ozryel with the other ten, her eggshell destroyed and her corpse burned. Dead because she’d just wanted to be free.

She’d been the best artisan of them all.

How could Inshii stand there and use their sister’s work to hold her killer?

Rhyssa was unusually still, even her wings beating slowly from the parts she used as eyes.

“Will you offer us a prayer, Gallen?” Inshii asked, solemn.

He looked at them in shock, his face rippling in surprise. Inshii had never thought much of religion.

He wished he had incense to light, an altar to kneel by by. He wished he could believe there was anything holy about what they were about to do.

Still he closed his eyes and put a hand to his chest.

He prayed Inshii was wrong, that his mother could be laid to rest after all.

He prayed whatever afterlife she went to was a kind one. A peaceful one.

He prayed his hands would not falter as he did to her what Rhomox Vannyn had done to Lleios. Wipe away the mind, leave the body behind.

Gallen hoped so hard for all of this that he hurt, and then his hand dropped from his chest. He nodded at Inshii, glad he couldn’t speak.

Rhyssa sniffed. With no tears to shed, she tugged at the band covering her wasp-filled sockets instead.

“I hope this works.” She mumbled. “It’ll be like old times. When we were all together, and everythin’ was perfect.”

Everything had never been perfect. Their siblings would still be dead. Ozryel had driven them to desperation when they were alive, had refused to listen when they’d tried to reason with her.

Gallen regretted not helping them. Not taking a side. If he had…

If he had, it probably wouldn’t have made a difference.

Nothing he’d done for his family ever had.

Inshii pressed a button, and the lid of the vat slid back with a faint sliding noise, impressively quiet for how large it was.

He could smell it now. The organic stench of nutrient-rich solution used to grow facsimile bodies.

Inshii stepped onto a ladder bolted to the side of the vat and he held up a hand. They raised their eyebrows, fins flicking.

He signed, Can I go up after you?

“Don’t be silly, Gallen.” Inshii said, tongue clicking. “There’s no space. I’ll bring her down so we can witness her awakening. It will likely take a minute or so.”

Good. That was all he needed.

He nodded to show he understood.

Inshii went up the ladder, their sherwani rippling from their movement. He - and Rhyssa - watched them intently.

What would their sibling bring down? What body had they made for Ozryel?

Though he writhed with nervousness, resignation settling heavy into his chitin, Gallen couldn’t help but be curious. He’d known her current shape for so long, it was difficult to imagine her in another.

He and his sister watched as Inshii took a fluke out of the glass container…and used their other hand - now in a rubber glove - to gently pick up a troll-shaped body. Viscous drops of amber fluid slowly dribbled off of it.

The view was partially blocked by their sibling, but Gallen could see the body’s eyes were closed, that it had long white hair and pale horns that resembled his mother’s.

They moved their arm. He could only assume they were putting the fluke in.

No noise. Nothing.

Inshii carried the body down in both arms, container put back in their sylladex, its - her - eyes still closed. She didn’t move.

Vial in his hand, Gallen lunged.

Rhyssa cried out and Inshii barked an order to stop. Neither moved quickly enough to stop him as he forced the contents down Ozryel’s throat.

Then his sister tackled him to the hard floor, snarling and buzzing as she swore and stung him over and over, ripping through his skin to the isopods beneath.

Gallen did not fight back even as dozens of his isopods thrashed and died. He lay there, letting her wound him, staring up at the pale ceiling and the dark pipes running along it.

He wondered if he was about to wake up in his eggshell, a sparse few isopods once more.

“Stop.” Inshii’s clipped voice said through his haze of pain. “Let mother handle him. The serum is working.”

Rhyssa gasped in relief and Gallen’s hopes sank in dread as he saw his mother’s pale gray fingertips moving, noticed the syringe in Inshii’s hand as they gave him a narrow-eyed violet stare.

“I don’t know why you’ve done this, but I can guess. You’ve betrayed us, gone over to Tuuya and their allies. I’d ask you why…but I don’t think I care.”

Feebly, Gallen tried to use his arms to sign an answer, but Rhyssa stung them and they collapsed into dying isopods.

His mother’s eyes flickered and opened, glowing a solid, brilliant green. Shorter than all of them, slim and almost petite, she vaulted out of her oldest child’s arms to land on the floor with a thud, her feet bare. Her only clothing was a pale teal dress, and she still dripped fluid on the floor as she stepped over to him. The pincers at the edges of her lips snapped in fury as her eyes shone with rage and delight.

“My only son.” She said, with a dry and raspy voice, different yet unmistakably familiar, unused to speaking aloud. “My last son. Why do you turn on me? The only mother you’ve ever had?”

Her tone was gently chiding, almost fond, but Gallen knew that meant nothing.

He spoke in the silent language of swarms, isopods forming shapes and symbols that all of his family read without comment.

“So misguided.” His mother said, still soft. “It isn’t your fault. You were tricked. You forget your siblings’ cruelty. They were unkind to you too.”

Gallen shook his head. She was lying. He had to remember she was lying.

Ozryel clicked her tongue.

“You’ve been very bad. You need a time-out.”

She knelt down next to him and put a hand to his chest. Right where he had when he’d prayed earlier.

Green flukes came out of her wrist, squirming over his remaining isopods to secrete liquid that dissolved him, segment by segment, leg by leg. He soundlessly screamed in agony, bereft of the tongue she had taken so long ago. The voice she’d silenced for the crime of not taking a side.

“Leave one.” Said Inshii, voice hard. “He can stay here. Otherwise who knows where he’ll go when he comes back in the cavern.”

Rhyssa snarled. “Yeah, what Shii said. We can’t let him outta our sight.”

“You don’t give me orders, children.” Murmured Ozryel in a tone of saccharine warning. “I’ll concede the butterfly is right this time. Just mind your tone, or I might think you intend to join your brother.”

Rhyssa opened her mouth, and as Gallen’s troll eyes melted away, he could see the hurt on his sister’s face before she closed it again.

In less than a minute, there was only one of him. A single white isopod, shivering as his mother picked him up in one hand. Helpless to resist her firm grip, she squeezed him so hard he nearly cracked, his legs struggling against her cold hand.

She leaned in to whisper so he could hear.

“Next time I won’t be so generous.”

His vision in this state was too poor to grasp what happened around him, but the next thing he knew, Gallen was locked in a dark, airless box with needles puncturing him all over his body.

He couldn’t move. Couldn’t see, or hear, or feel anything but pain and constriction.

The isopod prayed.

He prayed for the people he had failed so terribly.

He wished with everything he had that his mother would finally die.

—

Ozryel patted the box she had locked her son in, with a soft, needle-fanged smile, then set it aside.

Pausing, concentrating, she clenched her fists and there came a great cracking of bone, a sliding and warping of flesh as wings sprung from her back. Insectoid, yet shaped as if they were feathered, they shone with iridescent hints of rainbow color.

“Fly with me, children. We make for Hanhai.”

Rhyssa scratched her head.

“The desert? What d’ya want there? Thought we were goin’ after Tuuya and their lot.”

Inshii’s eyes also narrowed, then their expression cleared.

“Ah. Their daughter’s cavern.”

Ozryel gave her oldest child a feral smile.

“Kotenkha’s as well. One of her spawn fought me in the second worm’s body, allowing them to escape…it is long past time I gave that bloodline their due.”

The mother of swarms stepped outside the building, squinting as her eyes adjusted to the starlight she had not seen in over four thousand sweeps.

Ever since a wretched jade woman with a komondor lusus had shot her out of the sky.

#cloud writes #children of ozryel #gallen #rhyssa #inshii #ozryel #I think that went well #also round of applause for Thrixe. that's the serum Ullane made from him #ain't science great

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freedcare · 2 years

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Debt Management Company in India | Freed Care

The Debt Management Services company specializes in credit management for corporations and homeowners associations. Today, let us look at a few misconceptions and judgments of Freed and any confusion around debt settlement to make your journey toward freedom easier.

#Freedcare #Debt management #Debt management company #Freed #Debt relief #Debt relief program

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chennaifillings · 9 days

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Navigating Closure: Expert Guidance for Dissolving a Private Limited Company in Chennai

Navigating the Closure of a Private Limited Company in Chennai: A Comprehensive Guide

Introduction:

Closing a private limited company in Chennai is a significant decision that requires careful planning, adherence to legal requirements, and meticulous execution. In Chennai, as in any other part of India, the closure process involves several steps and considerations to ensure compliance and a smooth transition. This article serves as a comprehensive guide to navigating the closure of a private limited company in Chennai, offering insights, procedures, and best practices for a successful dissolution.

Understanding the Closure Process:

Closing a private limited company in Chennai involves several steps, including board resolutions, creditor notifications, asset liquidation, and regulatory filings. Understanding the legal framework and requirements set forth by the Companies Act, 2013 and other relevant regulations is essential.

Critical Steps in Closing a Private Limited Company:

1. Board Resolution: The company's directors must pass a resolution recommending the closure and appointing a liquidator.

2. Creditors Notification: Inform creditors, including banks, suppliers, and lenders, about the company's intention to close and settle outstanding dues.

3. Asset Liquidation: Liquidate company assets and settle liabilities, including taxes, debts, and employee dues.

4. Clearance from Authorities: Obtain necessary clearances from tax authorities, regulatory bodies, and other relevant agencies.

5. Shareholders Approval: Seek approval from shareholders through a special resolution passed at a general meeting.

6. Filing of Forms: To initiate the closure process officially, you must file the necessary forms and documents with the Registrar of Companies (ROC).

7. Publication of Notice: As per regulatory requirements, publish a notice of the company's closure in newspapers.

8. Final Closure: Once all formalities are completed, including the disposal of assets and settlement of liabilities, the ROC issues a certificate of dissolution, officially closing the company.

Challenges and Considerations:

Closing a private limited company in Chennai can pose various challenges, including legal complexities, creditor disputes, tax implications, and regulatory compliance. It's crucial to address these challenges proactively and seek professional advice when necessary to ensure a smooth closure process.

Expert Assistance and Resources:

Navigating the closure of a private limited company in Chennai requires expertise and experience in corporate law, taxation, and compliance. Seeking assistance from professionals such as chartered accountants, company secretaries, and legal advisors can streamline the process and mitigate risks.

Conclusion:

Closing a private limited company in Chennai is a multifaceted process that demands careful planning, diligence, and adherence to regulatory requirements. By understanding the steps involved, addressing challenges proactively, and seeking expert assistance, businesses can navigate the closure process effectively and ensure compliance with legal obligations. Remember, a well-executed closure is the end of a chapter and an opportunity for new beginnings and future ventures.

#Closure of Private Limited Company in Chennai

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bankaccountsearch · 11 days

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Tracking Hidden Wealth: The Role of Asset Search Companies and Investigation Services

Asset search and investigation services are specialized services designed to uncover hidden assets that individuals or entities may have concealed. These services are crucial for various legal, financial, and personal reasons, such as divorce proceedings, debt recovery, or corporate investigations. The following article explores the role of asset search companies, the process of hidden asset searches, and the value of asset investigation services.

Asset Search Companies

Asset search companies specialize in locating and identifying assets that may not be easily visible or accessible through standard means. These companies employ various techniques and tools to track down assets across different jurisdictions and formats. The services offered by these companies are essential for lawyers, financial institutions, private investigators, and individuals seeking to recover debts or enforce judgments.

Types of Assets: Asset search companies can locate a wide range of assets, including but not limited to:

Real estate properties

Bank accounts and financial investments

Vehicles, boats, and aircraft

Business ownerships and interests

Intellectual property

Personal property of significant value, such as artwork or jewelry

Methodology: The methods used by asset search companies typically involve:

Public records searches

Database checks

Surveillance and field investigations

Interviews with individuals who may have knowledge of the assets

Utilization of private and proprietary information sources

Legal Compliance: Asset search companies must operate within the legal frameworks of their jurisdictions. They must ensure that their methods of gathering information are ethical and comply with data protection laws and regulations.

Hidden Asset Search

Hidden asset search is a more specific term used to describe the investigation of assets that an individual or entity deliberately conceals. Such concealment may be for purposes such as avoiding tax liabilities, hiding wealth in divorce settlements, or evading debt obligations.

Why Assets are Hidden: Individuals may hide assets for various reasons, including:

To minimize tax liabilities by underreporting wealth

To conceal assets from a spouse during divorce proceedings

To protect assets from creditors or legal judgments

To engage in fraudulent activities or money laundering

Techniques for Uncovering Hidden Assets:

Financial Analysis: Reviewing bank statements, tax returns, and other financial documents to identify discrepancies or unusual transactions.

Forensic Accounting: Using specialized accounting techniques to track the flow of money and uncover hidden assets.

Lifestyle Analysis: Comparing an individual's reported income and expenses with their lifestyle to identify inconsistencies that may suggest hidden wealth.

Use of Informants: Gathering information from people who may have insider knowledge about the individual's assets.

Legal Support: Hidden asset searches are often used in legal contexts to provide evidence in court. For instance, in divorce cases, proving the existence of hidden assets can affect the division of property and alimony decisions.

Asset Investigation Services

Asset investigation services encompass a broader range of activities aimed at uncovering and evaluating the assets of an individual or entity. These services can be used in various scenarios, such as fraud investigations, background checks, corporate mergers and acquisitions, and more.

Scope of Services:

Due Diligence: Conducting thorough checks on the financial status and asset holdings of a company or individual before business transactions.

Fraud Investigations: Identifying and tracing assets involved in fraudulent activities to aid recovery efforts.

Legal Support: Assisting lawyers with evidence collection to support legal cases involving asset disputes, divorce, or probate.

Litigation Support: Providing detailed asset reports that can be used in court to support or refute claims.

Importance of Asset Investigation Services:

Risk Mitigation: By identifying undisclosed or hidden assets, individuals and businesses can make informed decisions, reducing the risk of financial loss.

Recovery of Debts: Asset investigations can help creditors locate and seize assets to recover debts.

Conflict Resolution: In legal disputes, having accurate information about assets can lead to fairer resolutions.

Conclusion Asset search companies, hidden asset searches, and asset investigation services play a vital role in ensuring financial transparency and integrity. These services help individuals, businesses, and legal professionals navigate complex financial landscapes, protect their interests, and achieve justice in various legal and financial contexts. As financial fraud and asset concealment techniques become more sophisticated, the demand for skilled asset search and investigation services continues to grow, making these services indispensable in today's world.

#asset investigation services #find hidden assets #finding hidden assets after divorce #asset search bank accounts #asset search company #asset search services

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sfsolutionsllc · 16 days

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Debt Collection Agency USA: A Comprehensive Guide to Impressive Features and Services

With an array of impressive features, a reliable debt collection agency in USA is indispensable partners for any business seeking to maintain its financial health.

Why Use a Debt Collection Agency in the USA?

Businesses often struggle with unpaid invoices and overdue accounts, which can significantly impact their cash flow. Handling debt recovery internally can be time-consuming, costly, and ineffective if not done correctly. By outsourcing this task to a professional debt collection agency in the USA, businesses can focus on their core operations while ensuring that their outstanding debts are being pursued by experts.

Here are some reasons why businesses should consider using a debt collection agency in the USA:

Expertise and Experience: Debt collection agencies have the experience and expertise to handle various types of debts, including consumer, commercial, and medical debts. Their familiarity with the legal landscape and collection strategies ensures a higher success rate in recovering debts.

Legal Protection: Navigating the complex web of debt collection laws can be tricky for businesses. Debt collection agencies are well-versed in the FDCPA and other relevant regulations, ensuring that the recovery process is conducted within the legal framework, thereby reducing the risk of legal repercussions for the creditor.

Increased Recovery Rates: Professional debt collectors use proven strategies and negotiation tactics to encourage debtors to pay. Their involvement often signals to the debtor that the creditor is serious about recovering the debt, leading to higher recovery rates.

Impressive Features of Debt Collection Agencies in the USA

1. Advanced Technology and Tools

The use of advanced technology is a hallmark of leading debt collection agencies. A dedicated debt collection agency in the USA leverages sophisticated software and analytics tools to track debtors, manage accounts, and predict the likelihood of recovery. This technology-driven approach not only enhances efficiency but also provides clients with real-time updates on the status of their accounts.

2. Nationwide Reach

A debt collection agency with a nationwide reach is particularly advantageous for businesses with customers across the USA. Such agencies have the resources and network to pursue debts in any state, ensuring that no debtor is out of reach. This extensive coverage is especially important for large corporations with a diverse customer base.

3. Transparent Reporting

Transparency is crucial in the debt collection process. The best agencies provide their clients with detailed, transparent reports that outline the progress of each account. These reports typically include information on the status of the debt, the actions taken by the agency, and the outcomes achieved. This level of transparency allows businesses to stay informed and assess the effectiveness of the agency's efforts.

4. Flexible Payment Options

To facilitate successful debt recovery, a trusted debt collection agency in the USA offers flexible payment options to debtors. These options can include payment plans, settlements, and other arrangements that make it easier for debtors to pay off their debts. By offering these options, agencies increase the likelihood of recovering the full amount owed.

#debt collection Agency pa #professional consumer and commercial collection agency #debt collection agency usa #consumer collection agency #agency for commercial collections #b2b debt collection agency #personal debt collection agency #medical debt collection agency #debt collection agency for financial industry

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data-analytics-consulting · 18 days

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Types of Private Equity Investments

Private equity or PE investments help businesses thrive through capital infusion from willing investors. Later, they can utilize the increased capacity to expand operations and regional headcounts. Investors’ support allows brands to develop new product research roadmaps and reduce debt-related liabilities. However, investors do not get hassle-free access to a private company’s financial, reputational, and legal history, unlike what they can quickly check when investing in a publicly-held enterprise. This post will explore the types of private equity investments that enhance investors’ portfolios while reliably predicting returns through data-backed performance and investment disclosures.

What is Private Equity?

Private equity facilitates investments into unlisted companies. So, the companies can achieve fundraising goals through leveraged buyouts, venture capital, distressed debt, and similar approaches. Additionally, investors might employ private equity outsourcing support during due diligence since significant performance insights are absent from publicly accessible media resources.

Blackstone, Carlyle Group, Advent International, and Vista Equity Partners are a few globally recognized brands streamlining PE investments for stakeholders. Given the high-risk classification of PE investing opportunities, business owners and equity portfolio managers have identical incentives to maximize returns.

Types of Private Equity Investments

1| PE Fund of Funds

A fund of funds (FOF) gathers capital from investors. Later, investors will want the FOF to invest in available PE opportunities. Simultaneously, investors benefit from a multi-strategy PE investing approach, distributing risk across growth capital, leveraged buyouts, and venture capital allocations. Investors and private sector players can utilize fund data solutions to assess a FOF’s past performances for informed wealth development decisions.

Private equity FOF enables access to otherwise exclusive investment opportunities and robust diversification models. Aside from the time-tested skill set of financial professionals heading fund of fund operations, investors enjoy moderate liquidity. It is still less than public company investments but more than direct investments into unlisted businesses.

FOFs in private equity investments can offer geographic, sectoral, and thematic scope of screening companies. Otherwise, investors can select a multi-strategy option that integrates the strengths of these three FOF categorizations.

2| Distressed Debt

Bankruptcy, restructuring, and similar financial challenges often prompt private companies to offer discounts to attract and retain investors. Distressed debt involves transactions involving investors purchasing high-risk corporate debt securities. Later, if the business successfully recovers from those financially troubling circumstances, investors enjoy additional gains because they receive remarkable discounts during the initial transactions.

Active involvement is also vital, indicating investors must share their acquired wisdom of corporate restructuring and collaborate with domain experts to accelerate business value enrichment programs. Therefore, feasibility studies and performance reports are pivotal to reducing investment loss risks upon failed business revival attempts.

3| Mezzanine Capital

This hybrid approach to private equity investments offers a concentrated strategy relying on synergized equity and debt financing strengths. Mezzanine capital, beneficial in PE-driven fundraising, exhibits higher interest rates because it is secondary to senior debt. Senior debt in a private equity context ensures lenders get settlements upon liquidation or bankruptcy.

In other words, Mezzanine capital is subordinated to senior debt in the enterprise capital structure and, therefore, riskier. However, its return-yielding potential is remarkable due to interest rates being higher than those of senior debt. Mezzanine capital in PE also features conversion rights or warrants, empowering lending investors to upgrade to standard equity when company performance improves after capital infusion.

Conclusion

Distressed debt and Mezzanine capital are the high-risk types of private equity investments. Meanwhile, a private equity fund of funds softens the risk exposure. After all, it delivers strategic diversification and exclusive access to unique PE investing opportunities. Regardless of a few slumps in the industry during 2019-20, private equity is essential to help unlisted companies overcome capacity and growth challenges while striking a balance of investor risks and returns.

#private equity #fund solutions #fund services #fund data #fund management #private equity services #private equity support

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structuredbiiz · 23 days

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Understanding Non Banking Financial Company in India

What is a Non-Banking Financial Company (NBFC)?

An NBFC is a company registered under the Companies Act, 2013, that provides financial services but does not hold a banking license. NBFCs operate in various sectors such as loans, asset financing, insurance, leasing, and investments. They are regulated by the Reserve Bank of India (RBI) under the RBI Act, 1934, but do not offer core banking services like accepting demand deposits from the public or issuing checks.

Key Differences Between NBFCs and Banks

While both banks and NBFCs provide financial services, there are some key differences:

1. Deposit Acceptance: Unlike banks, NBFCs cannot accept demand deposits.

2. Payment and Settlement System: NBFCs are not part of the payment and settlement system and cannot issue checks.

3. Deposit Insurance: Deposits with NBFCs are not insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), unlike those with banks.

Despite these differences, NBFCs are pivotal in delivering financial services across various sectors.

Types of NBFCs

NBFCs in India are categorized based on their activities and types of deposits accepted. Here are the main categories:

1. Asset Finance Company (AFC): Engages in financing physical assets like machinery, automobiles, and equipment used in productive sectors.

2. Loan Company: Primarily focuses on providing loans and advances that do not involve asset financing.

3. Investment Company: Engages in acquiring securities, such as shares, stocks, and bonds.

4. Infrastructure Finance Company (IFC): Specializes in funding infrastructure projects and requires a minimum Net Owned Fund (NOF) of Rs. 300 Crore.

5. Microfinance Institution (MFI): Provides microloans to individuals or small businesses, particularly in rural and semi-urban areas, with a focus on income generation.

6. Core Investment Company (CIC): Holds a minimum of 90% of its total assets as investments in group companies, with 60% of its equity investments in these companies.

7. Infrastructure Debt Fund (IDF): Facilitates long-term debt flow into infrastructure projects by raising resources through bonds.

8. NBFC-Factors: Engaged in the business of factoring, which involves the sale of receivables to improve cash flow.

9. Mortgage Guarantee Companies (MGC): Provides mortgage guarantee services with at least 90% of assets in guarantee business. Visit our website for complete details.

Advantages of NBFCs

NBFCs offer several advantages over traditional banks:

1. Diverse Financial Services: NBFCs can engage in various activities such as loans, leasing, hire-purchase, insurance, and investment management, offering a broad range of financial services.

2. Regulatory Flexibility: Although regulated by the RBI, NBFCs enjoy more flexibility than banks, which allows them to cater to niche markets with innovative financial products.

3. Easier Access to Capital: NBFCs can raise funds through various means, including debentures, bonds, and loans. Some NBFCs are also allowed to accept deposits.

4. Faster Loan Processing: NBFCs often have streamlined loan approval processes, resulting in quicker loan disbursals compared to traditional banks.

Foreign Investment in NBFCs

The Indian government allows 100% Foreign Direct Investment (FDI) in NBFCs under the automatic route, provided they engage in certain specified financial activities such as asset management, stock broking, financial consultancy, and venture capital. NBFCs with foreign investment must comply with minimum capitalization norms as defined by RBI guidelines, depending on the level of foreign ownership.

Registration Process for NBFCs in India

To operate legally, an NBFC must undergo a registration process with the Reserve Bank of India. Below is a step-by-step guide:

1. Incorporate the Company: Register your company under the Companies Act, 2013, ensuring that the primary objective is engaging in financial activities.

2. Meet the Net Owned Fund (NOF) Requirement: Ensure that the company has a minimum NOF of Rs. 200 Lakhs, primarily in equity shares.

3. Prepare a Detailed Business Plan: Draft a comprehensive business plan, including financial projections and operational strategies.

4. Apply Online: Submit an online application to the RBI through its official portal along with required documents such as the Certificate of Incorporation and business plan.

5. Submit Hard Copies: Send a signed hard copy of the application and supporting documents to the regional RBI office.

6. Board Resolutions: Pass board resolutions confirming adherence to RBI’s Fair Practices Code and affirming that the company will not engage in restricted activities.

7. Director Credentials: Ensure that at least one-third of the company’s directors have a minimum of 10 years of experience in finance.

8. Comply with RBI Norms: Meet any additional compliance requirements such as CIBIL ratings and FDI norms, if applicable.

Conclusion

Non-Banking Financial Companies (NBFCs) are integral to the financial system in India, providing essential services that extend beyond the reach of traditional banking institutions. By facilitating access to credit, especially in underserved areas, NBFCs contribute significantly to economic development and financial inclusion. With a thorough understanding of regulatory requirements and a clear registration process, businesses can successfully enter the NBFC sector and thrive in India’s growing financial ecosystem.

#Non Banking Financial Company Registration #Non Banking Financial Company In India #Non Banking Financial Company #NBFC Registration

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forblogmostly · 1 month

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PC Jeweller Limited Announces Approval of One-Time Settlement Proposal by IDBI Bank

PC Jeweller Limited, a prominent name in the jewellery retail industry, has recently reached a significant milestone in its financial management. On August 14, 2024, the company received formal approval from IDBI Bank Limited for its proposed One-Time Settlement (OTS). This development marks a critical step in PC Jeweller’s efforts to address and resolve its outstanding financial obligations.

The approval from IDBI Bank signifies a major move towards settling the company’s dues through a structured settlement arrangement. The OTS proposal, which PC Jeweller had submitted to IDBI Bank, was designed to address the company's financial liabilities in a manner that is mutually beneficial for both parties involved. The terms of the approved OTS include a combination of cash and equity components, which will be utilized to settle the outstanding amounts. Additionally, the agreement encompasses the release of securities and mortgaged properties that were previously pledged by the company.

The decision to opt for an OTS was driven by PC Jeweller’s strategic objective to streamline its financial structure and alleviate the burden of existing debts. By negotiating this settlement, the company aims to enhance its financial stability and focus on its core operations without the encumbrance of unresolved dues. The approval from IDBI Bank is expected to provide PC Jeweller with the necessary breathing room to reorient its financial strategies and bolster its operational efficiency.

This announcement is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to disclose material information that could impact their financial standing and investor interests. The disclosure reflects PC Jeweller’s commitment to transparency and adherence to regulatory requirements, ensuring that its stakeholders are well-informed of significant corporate actions.

Sanjeev Bhatia, the Chief Financial Officer of PC Jeweller Limited, signed off on the communication, underscoring the importance of this development for the company’s ongoing financial restructuring efforts. The approval of the OTS represents a pivotal moment in PC Jeweller’s journey towards financial recovery and operational rejuvenation.

As PC Jeweller moves forward, the company is poised to leverage this opportunity to reinforce its financial foundation and enhance its market position. The resolution of its outstanding dues through this settlement is expected to positively impact its future business operations and strategic initiatives.

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rehasaleh · 2 months

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Company Liquidation in Dubai: A Comprehensive Guide

Company liquidation in Dubai is a formal legal process that involves winding up a company's affairs, settling its debts, and distributing any remaining assets to shareholders. Companies may undergo liquidation for various reasons, including voluntary liquidation due to a shareholders' decision or compulsory liquidation due to insolvency or a court order. This guide provides a detailed overview of the company liquidation process in Dubai, covering the reasons, procedures, and potential challenges involved.

What is Company Liquidation?

Company liquidation is a regulated legal process aimed at terminating all company activities, settling all financial obligations, selling assets, paying off debts, distributing residual profits to shareholders, and formally dissolving the company.