#dlf 22: day 29
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i have a crush on my friend. she loves taylor swift and the movies, especially the mission impossible universe. she wants to be a psychologist, and she is straight
i cried because she is straight and she has a crush on a boy from the science stream (we are in humanities) and the guy likes math and im all like?????? why need the mathlete when im right here?????
*cue you belong with me by taylor swift*
Ayyoo she could be bi?? She sounds v cute tho all the best in your endeavours!!!
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Delhi
Delhi State - An Introduction
Delhi State is one of the 29 states and seven union territories in India. The state capital of Delhi State is Delhi, the largest city of India with an estimated population of more than 11 million people, making it the second-largest city in terms of area in India, after Mumbai, with an estimated population of 16 million people (Delhi's metropolitan area has an estimated population of 22 million). The National Capital Region, which includes Delhi and its neighboring cities like Noida and Gurgaon, has a total population of over 26 million people according to Census 2011. The history of Delhi India was divided into two new territories. One, called The Union Territory of Delhi, was smaller than Uttar Pradesh and more urbanized. Its population was less than one-fifth that of Uttar Pradesh and its capital city—New Delhi—was still under construction. It only had three elected representatives in parliament and had not yet adopted its own constitution, so it remained subject to state laws for another decade. Despite being a mostly rural area with just 3% of India’s total population at independence, UP elected 41 representatives to parliament—the most from any single state. The northern states together—UP, Bihar, Orissa, and Madhya Pradesh—sent 43% of all elected members to parliament at independence; nearly double what their share in terms of the population would indicate. Climate in Delhi
Delhi has a tropical wet and dry climate, with monsoon winds blowing from April to October. Summer temperatures can exceed 45°C (113°F) while winter temperatures, although milder than other cities in northern India, tend to hover around 14°C (57°F). New Delhi's elevations range from 1.5 meters at Roshanara Garden in East Delhi to 138 meters at Yamuna Pushta in West Delhi's Jangpura Extension. Tall buildings affect wind to flow through Delhi, slowing it down and rendering parts of the city calm and breezy even during hot summer days; though high-rises have been banned from construction within city limits in recent years for environmental reasons. The streets and main attractions in Delhi
Delhi is a huge city with several districts. Here is a list of main streets and attractions you should visit in Delhi: Connaught Place, Chandni Chowk, India Gate, Red Fort, Qutub Minar Complex, Purana Quila, and Humayun's Tomb. You can buy souvenirs from Janpath Market which are very affordable. The streets in Delhi are very busy and you should be extra careful while walking on them as there is always a risk of pick-pocketing and kidnapping. Keep your personal belongings safe at all times to avoid any such situations. Eating, shopping, entertainment, and events in Delhi
Delhiites love to shop and dine out, and Delhi has all that a modern-day individual needs. Today, there are many shopping malls in Delhi like Select Citywalk, DLF Place Saket, South Ex & others that offers designer brands at discounted prices. In addition to these clothing & lifestyle brands, you will also find many international food chains here. West Delhi is one of its main hubs for restaurants such as The Great Kabab Factory (which serves mouth-watering Tandoori chicken), Bone Daddies (specializing in Asian noodles), and Woodside Inn (one of India’s oldest bars). Just south is Hauz Khas Village which is known for its art galleries and cafes. Read the full article
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Life Insurance Industry Performance: Apr 2010-Mar 2011
The yearly marketing projection of the Indian life insurance industry for 2010-11 are currently accessible.
This has for sure been a wild year for the business, with the new guidelines on ULIPs coming into force from Sep 1, 2010. In specific cases, the private life insurance players have had a business plunge of as much as 35% post the new guidelines producing results, over the relating time frame in the earlier year. Be that as it may, the general plunge has veiled because of the strong performance in the primary portion of the monetary year. Bit by bit, the life insurance industry is discovering its feet post the guidelines and revealed footing in deals during the period of March, 2011. The greatest recipient of the new guidelines has been LIC, the huge daddy of Life Insurance Policy in India.
At a general level, the life insurance industry has announced a development of 15% over the earlier year. The business revealed new business premium of Rs 1.26 lakh crores in FY10-11 over Rs 1.09 lakh crores in FY 09-10. Notwithstanding, a large portion of this development was represented by LIC which recorded a 22% expansion in premium to Rs 86,444 crores from a previous 70891 crores. All the while, LIC expanded its piece of the overall industry of the general life insurance showcase by 4% from 64.86 % to 68.7%.
The private life insurance players, with a joined premium of Rs 39,381 crores and a piece of the overall industry of 31.3%, detailed just a 3% development in new business premium in this money related year. In any case, that recounts to just piece of the story. Over the most recent a half year since when the ULIP guidelines came into force, the private life insurance industry would have had a noteworthy de-development which has been covered up by the more grounded performance preceding the guidelines producing results.
The New business premium and the piece of the pie of the private players is as per the following. New Business Premium is in (Crs) and piece of the overall industry is in rates
Piece of the pie
ICICI Prudential 7861, 6.3%
SBI Life 7571, 6.0%
HDFC Life 4065, 3.2%
Bajaj Allianz 3462, 2.8%
Dependence Life 3035, 2.4%
Birla Sunlife 2077, 1.7%
Max New York 2060, 1.6%
Goodbye AIG 1331, 1.1%
Kotak Mahindra Old Mutual 1253, 1.0%
Canara HSBC OBC Life 823, 0.7%
Star Union Dai-ichi 759, 0.6%
Aviva 745, 0.6%
IndiaFirst 705, 0.6%
Met Life 704, 0.6%
ING Vysya 660, 0.5%
Shriram Life 575, 0.5%
Future Generali Life 449, 0.4%
IDBI Federal 445, 0.4%
Bharti Axa Life 362, 0.3%
Aegon Religare 275, 0.2%
SaharaLife 91, 0.1%
DLF Pramerica 74, 0.1%
Complete 39381, 31.3%
Plainly, the best 5 private players are ICICI Prudential, SBI Life, HDFC, Bajaj Allianz and Reliance Life while there are 14 life insurance organizations at a piece of the overall industry of under 1%. A point by point take a gander at the business premiums of the privately owned businesses hurls a rundown of organizations which have had a noteworthy increment in premium, while simultaneously, a couple have lost ground. IndiaFirst Life has recorded a huge increment of 250% premium development, however on an altogether low base. DLF Pramerica and Aegon Religare have likewise demonstrated an expansion on a low base, yet the most noteworthy increments are for Canara HSBC Oriental, HDFC Life and ICICI Prudential Life, every one of whom have recorded increment of +25%.
IndiaFirst 250%
DLF Pramerica 98%
Aegon Religare 83%
Star Union Dai-ichi 46%
Shriram Life 37%
Canara HSBC OBC Life 29%
HDFC Standard 25%
ICICI Prudential 24%
In any case, a couple of private life insurance organizations have enrolled critical degrowth. MetLife, which lost the Axis Bank relationship, enrolled a reduction in premium salary of as much as 34% (it is in the last waitlist for the PNB Bancassurance relationship, and could make up the lost ground). Birla SunLife's new business premium was 30% not exactly a year ago, while Bajaj Allianz Life Insurance had a 22% reduction.It is fascinating to perceive how the life insurance industry performs in the ebb and flow money related year, which would be the main entire year since the watershed guidelines on ULIPs produced results. In the long haul, the progressions realized would be sound for the life insurance showcase in India. The benefits item, which used to represent 30% of the market and for every down to earth reason for existing was executed by the new guidelines, would likewise return to life in this money related year as IRDA is intending to achieve changes from its previous rules. With everything taken into account, it vows to be an intriguing year ahead. life insurance for 1 crore
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25 year old Vangba Phom, who had gone missing since 20 July was found last evening, 29 July from Huda City Metro Station, Gurugram by some Police personnels between 7pm-8pm. The missing youth was recognized by an off duty personnel working at the metro Station after which the Delhi Eastern Naga Union and Naga Students Union Delhi were alerted. The NSUD & DENSU informed that he was found in a very poor condition, as he was famished for more then 4-5 days. Vangba disclosed that he had a misunderstanding with his roommate and he was not happy so he ran away, being new to the city is unaware of where he had been exactly for more than 8 days. The leaders also informed that Vangba had taken only one meal since the evening he had gone missing. Since he was not in a condition to talk no official statement was taken yesterday. After DENSU and NSUD received him from the personnels Vangba was taken to Nagaland House, Delhi. Phom will be taken to the hospital today for medical check up and his official statement will be taken today at DLF Phase-I Police Station where the DENSU had filed FIR on 22 July. Robin Hibu IPS Delhi, said “he is thankful for the Gurgaon Helping Hands volunteers lead by Abel. I will officially reward the volunteers for selfless and tiring search for day and nights in Delhi and Gurgaon. TNT NEWS #breakingnews (at Dimapur) https://www.instagram.com/p/B0iUx86n1TP/?igshid=1rchhcc26ygx2
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COVID-19 containment zones in Delhi rises to 43
New Post has been published on https://apzweb.com/covid-19-containment-zones-in-delhi-rises-to-43/
COVID-19 containment zones in Delhi rises to 43
The number of coronavirus containment zones in the national capital rose to 43 on Sunday, with southeast Delhi having the most such zones at 12.
There were 33 COVID-19 hotspots in the city on Monday. With the announcement of 10 more containment zones, the respective district authorities have started to seal those areas to stop the spread of the virus.
According to a Delhi government official, Chief Secretary Vijay Dev has directed officers to strictly monitor the containment zones and follow all laid down procedures.
Close on the heels of southeast district, East Delhi has nine coronavirus containment zones, followed by Shahdara at five and West Delhi at four.
While south, southwest and central Delhi have three containment zones each, New Delhi and North district each have two such zones.
Mansara Apartments in Vasundra Enclave, Street Number 9 in Pandav Nagar and Vardhaman Apartments in Mayur Vihar Phase-1 Extension are among 43 containment zones.
On Friday, the number of coronavirus cases in Delh mounted to 1069, with 166 fresh cases and five deaths being reported in a day.
Here is the complete list of 43 containment zones: 1. Entire affected street near Gandhi Park, Malviya Nagar 2. Entire affected street of Gali No 5, 6 &7, L 1 Sangam Vihar 3. Affected area around H. No.A-176, Deoli Extension 4. Shahjahanabad society, plot no 1, Sector 11, Dwarka 5. Dinpur Village 6. Gali No. 5 & 5A, H-2 Block, Benagli Colony, Mahavir Enclave 7. Markaz Masjid and Nizamuddin Basti 8. Nizamuddin West (G and D block) areas 9. Area of Street/Gali No. 18 to 22 of Zakir Nagar and nearby area of Abu Bakar Masjid of Zakir Nagar 10 (Core) rest of Zakir Nagar as Buffer Zone 11. H. No. 811 to 829 and 842 to 835 – Khadda Colony, Jaitpur, Extension, Part-II 12. H. No. 1144 to 1134 and 618 to 623 – Khadda Colony, Jaitpur, Extension, Part-II 13. Gali No. 16, Kachhi Colony, Madanpur Khadar, Extension, Delhi 14. Mehela Mohalla, Madanpur Khadar, Delhi 15. H-Block, Near Umra Masjid, Abu Fazal Enclave 16. E-Block, Abu Fazal Enclave, Delhi 17. H No. 97 to 107 and H. No. 120-127 Kailash Hills, East of Kailash 18. E-Block (E-284 to E-294) East of Kailash, Delhi 19. H. No. 53 to 55 & 25, Shera Mohalla, Garhi, East of Kailash 20. B Block Jahangirpuri 21. Gali No. 1 to 10 (1 to 1000) C Block Jhangirpuri 22. H. No 141 to H. No 180, Gali no. 14, Kalyanpuri 23. Mansara Apartments , Vasundhara Enclave 24. 3 Galis of Khichripur including Gali containing H. No. 5/387 Khichripur 25. Gali No 9, Pandav Nagar 26. Vardhaman Apartments , Mayur Vihar, Phase I , Extension 27. Mayurdhwaj Apartments , I P Extension, Patparganj 28. Gali no. 4, from H. No. J- 3/115 (Nagar Dairy) to H. No. J- 3/108 (towards Anar wali Masjid Chowk), Kishan Kunj Extension 29. Gali No. 4, from H. No J- 3/101 to H. No. J – 3/107 Krishan Kunj Extension 30. Gali No. 5, A Block ( From H No. A- 176 to A-189), West Vinod Nagar 31. E-Pocket, GTB Enclave 32. J & K, L and H pockets Dilshad Garden 33. G, H, J, Blocks old Seemapuri 34. F- 70 to 90 block Dilshad Colony 35. Pratap khand, Jhilmil Colony 36. Shastri Market, including J.J. Cluster of South Moti Bagh 37. Bengali Market/ Babar Road adjoining area of Todarmal Road, Babar Lane and School Lane Sadar Bazaar 38. Chandni Mahal 39. Nabi Karim 40. In and around area of G-174, Capital Greens, DLF, Motinagar 41. In and around area of B- 1/2, Paschim Vihar 42. In and around area of 11/3, 2nd Floor Ashok Nagar 43. In and around area of H. No. A-30, Mansarovar Garden
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ANCONA – Si avvicina la data fissata dall’Amministrazione comunale insieme alla Prefettura e agli artificieri dell’ Esercito italiano- domenica 20 gennaio- per la bonifica e la rimozione dell’ ordigno bellico rinvenuto in zona Archi/Stazione il 17 ottobre scorso e la conseguente, necessaria evacuazione della zona interessata.
Una operazione complessa che interessa più quartieri per un totale di circa 12.000 persone che dovranno lasciare le loro abitazioni, attività commerciali/luoghi di lavoro, liberando completamente la “zona rossa”, (compresa tra Porta Pia, stazione ferroviaria/Via Berti, Piazza Ugo Bassi / piazzale Camerino e zona Regione Marche) tra le ore 8:00 e le ore 19 circa, per permettere agli artificieri di intervenire sull’ordigno e di trasportarlo in luogo sicuro.
Un’area – quella definita in un raggio di 800 metri dal punto in cui la bomba è stata ritrovata- che racchiude al suo interno una forte componente residenziale caratterizzata dalla presenza di una novantina di comunità straniere, con 86 vie interessate, così come spazi portuali, industriali, turistici, la stazione ferroviaria (verrà interrotto il servizio sulla linea per tutta la durata dell’intervento) e molte tipologie di servizi che nella giornata del 20 gennaio verranno tutti sospesi.
Nei giorni scorsi sono state affisse 1850 locandine in tutti gli edifici che ricadono nell’area ed è stata avviata capillarmente la distribuzione dei circa 12.500 volantini in lingua italiana e tradotti in più lingue per informare le persone sui comportamenti da seguire nella giornata del 20 gennaio. I volantini sono in corso di distribuzione nei quartieri, negli esercizi commerciali e luoghi pubblici, nei presidi sanitari, sociali e culturali nonchè nei luoghi di culto. La raccomandazione, a monte,è quella di allontanarsi dalla zona rossa dalla sera precedente trovando ospitalità da parenti, amici o fuori porta.
Per chi non ha questa possibilità sono disponibili 3 centri di accoglienza aperti nell’arco di tempo previsto: PalaPrometeo Estra, Palascherma e Palabrasili raggiungibili con mezzi propri o di trasporto pubblico gratuito (Conerobus) che faranno capo ai 5 punti di raccolta individuati nelle zone in cui l’area è stata suddivisa
zona 1– Punto di raccolta: Stazione ferroviaria
zona 2 – Punto di raccolta: Piazza Ugo Bassi
zona 3– Punti di raccolta: Piazzale Europa (3A)
e Dopolavoro ferroviario DLF, Via De Gasperi (3B)
zona 4– Punto di raccolta: COAL Via Mamiani ARCHI)
Per la zone 1 e 2 (le più popolose) previsti dai relativi punti di raccolta sopraindicati (Stazione e Piazza Ugo Bassi) 4 autobus con destinazione Palaprometeo Estra cui si aggiungono 2 navette di collegamento per servire la parte alta e la parte bassa della zona 1, evitando così ai cittadini faticose salite/discese
La zona 3 – di ampie dimensioni- è divisa in 2 sotto-zone con altrettanti punti di raccolta: dal punto di raccolta di Piazzale Europa (al servizio dell’area della Regione Marche) si avvicenderanno 2 autobus in direzione Palascherma che effettueranno 2 /3 fermate intermedie; dal punto di raccolta presso il DLF- Dopolavoro ferroviario ( al servizio dell’area Capodimente) saranno operativi 2 autobus in direzione Palaprometeo Estra che effettueranno anche essi 2-3 fermate (tra le quali piazza San Gallo).
La zona 4 fruirà di 2 bus con partenza davanti alla Coal di Via Mamiani 3 destinazione Palabrasili, che effettueranno anche essi fermate intermedie (capolinea Flixbus e parte intermedia via Marconi). I bus faranno al spola continuamente con i centri di accoglienza. Presso i punti di raccolta e a bordo saranno presenti volontari di Protezione civile per assistere i cittadini.
È OBBLIGATORIO PER TUTTI ESSERE FUORI DALL’AREA DA EVACUARE ENTRO E NON OLTRE LE ORE 8.00 DEL MATTINO, dando attuazione al seguente PROGRAMMA DI EVACUAZIONE:
Ore 5.00 Le sirene di tutti i mezzi di soccorso suoneranno per ricordare alla cittadinanza di abbandonare l’area interessata.
Ore 7.00 Chiusura delle strade di accesso all’area. Sarà vietato l’ingresso, si potrà solo uscire dall’area di evacuazione.
Ore 8.00 Termine delle operazioni di evacuazione e inizio del controllo dell’area da parte delle Forze dell’Ordine.
Dopo le ore 8,00 chiunque verrà trovato all’interno dell’area sarà allontanato.
Il rispetto degli orari è fondamentale per consentire di terminare le operazioni nel rispetto del cronoprogramma.
Il termine delle operazione è previsto per le ore 19,00 e verrà segnalato dal personale della Protezione civile in servizio nei centri di accoglienza e attraverso i canali di comunicazione del Comune attraverso il sito del Comune di Ancona http://bit.ly/2sl8ep4 e la pagina facebook Comune di Ancona – Informacittà • tramite il servizio Whatsapp del Comune di Ancona mandando il mes- saggio “ISCRIVIMI” al numero 3667695184 e il servizio Telegram cer- cando il canale @ComuneDiAncona • Attraverso le tv e radio locali
PIANO SANITARIO
Sono 90 al momento, ma il numero è in aumento, le persone con problemi di salute (anziani, disabili, ammalati con patologie gravi) segnalate al Comune, per le quali è stato richiesto un servizio di trasporto sanitario e/o accoglienza presso strutture idonee in collaborazione con Asur Marche.. Questo l’elenco delle strutture che si sono rese disponibili all’accoglienza: : Residenze anziani comunali Benincasa e Villa Almagià; residenza anziani Zaffiro, residenza anziani Visentini, residenze per disabili Papa Giovanni XXIII e Il Samaritano, centro diurno disabili Il sole, casa nuovi orizzonti per disabili, strutture accoglienza Stella Maris e Dilva Baroni.
Definite anche le strutture in grado di ospitare persone con particolari situazioni di disabilità
SICUREZZA: L’area interessata sarà costantemente presidiata dalle forze di Polizia durante il corso delle operazioni e fino dalla sera precedente. Supporto verrà fornito anche agli agenti di Polizia Municipale presso i cancelli ( o varchi).
INFORMAZIONI: Per informazioni sono attivi da settimane- i numeri 800653413 o 071 2222323, da mobile 071-2222323, dal lunedì al venerdì dalle 9 alle 13, il martedì 9-13 15-17 il giovedì orario continuato dalle 9 alle 16.
Nelle giornate del il 17-18-19 gennaio gli operatori risponderanno dalle 9 alle 18 mentre domenica 20 gennaio continuativamente dalle 5 alle 20.
Si ricorda che nella zona rossa è vietato lasciare i mezzi parcheggiati sulla superficie stradale, pertanto questi vanno spostati o all’esterno dell’area o in garage e parcheggi disponibili, quali
Parcheggio Degli Archi (solo coperto) gratuito dalle 20 di sabato alle 20 di domenica
Parcheggio piazza D’Armi
Parcheggio Tavernelle (Cimitero)
Parcheggio via Ranieri
Parcheggio Stadio Del Conero
Nei volantini che verranno distribuiti sono presenti consigli pratici rispetto a cosa fare prima di assentarsi, cosa portare con sé, rispetto agli animali domestici ecc.
Da parte sua il Comando di Polizia Municipale – che metterà in campo tutte le proprie forze quel giorno- un centinaio di agenti divisi su tre turni- ha predisposto il Piano della Viabilità e predisporrà le ordinanze necessarie per interdire l’area e per fare defluire veicoli su percorsi alternativi, con particolare attenzione ai mezzi di soccorso.
Gli accessi alla zona rossa verranno chiusi con sbarramenti fisici e saranno presidiati dagli agenti.
PIANO VIABILITA’ 20 gennaio 2019
Divieti e chiusure
1
VIA APPANNAGGIO – P.ZA KENNEDY
SEGNALE DIVIETO DI TRANSITO STRADA CHIUSA A MT. 200
2
XXIX SETTEMBRE ALTEZZA CIVICO 12 B
CHIUSURA TOTALE
2 BIS
VIA RUPI DI VIA XXIX SETTEMBRE (CARRABILE) – PERCORSO PEDONALE
CHIUSURA TOTALE
3
VIA CIALDINI ALTEZZA CIVICO 72,80
CHIUSURA TOTALE
4
VIA STAGNO CIVICO 70,74
CHIUSURA TOTALE
4 BIS
PIAZZA SAN GALLO
CHIUSURA TOTALE
5
CORSO STAMIRA – VIA PODESTI
SEGNALE DIVIETO DI TRANSITO STRADA CHIUSA A MT. 300
6
VIA PODESTI ALTEZZA CIVICI 108,116
CHIUSURA TOTALE
7
VIA TOPRRIONI ALTEZZA CIVICO 57
CHIUSURA TOTALE
8
VIA SAN MARTINO (PARCHEGGIO) – GALLERIA SAN MARTINO
SEGNALE OBBLIGO SVOLTA A SIX
9
VIA SANTO STEFANO – VIA TORRIONI
SEGNALE DIVIETO DI TRANSITO STRADA CHIUSA A MT. 200
10
VIA MONTEBELLO – VIA SIMEONI
SEGNALE DIVIETO DI TRANSITO STRADA CHIUSA A MT. 400
11
PIAZZA XXIV MAGGIO – CORSO STAMIRA (DIREZIONE P.ZA CAVOUR PRIMA DELLO STOP)
12
VIA VECCHINI – VIA PALESTRO
13
VIA VECCHINI – VIA MONTEBELLO (INIZIO VIA MONTEBELLO)
14
VIA CIRCONVALLAZIONE – VIA VERDI (lasciare il passaggio per Via Verdi)
CHIUSURA TOTALE
15
ROTATORIA VIA CIRCONVALLAZIONE
SEGNALE DIVIETO DI TRANSITO STRADA CHIUSA A MT. 200
16
VIA XXV APRILE – VIA MICHELANGELO ( A SCENDERE)
17
PIAZZALE LIBERTA’ – GALLERIA RISORGIMENTO
18
VIA MARTIRI DELLA RESISTENZA – P.LE LIBERTA’
19
VIA XXV APRILE – P.LE LIBERTA’
20
VIA TIZIANO – VIA VERDI
CHIUSURA TOTALE
21
VIA MARTIRI DELLA RESISTENZA scalinata pedonale c/o P.le Europa
CHIUSURA TOTALE
22
P.LE EUROPA – VIA TIZIANO
CHIUSURA TOTALE
23
P.LE EUROPA – VIA DE GASPERI
CHIUSURA TOTALE
24
VIA MACERATA – VIA VALLEMIANO
CHIUSURA TOTALE
25
P.ZA UGO BASSI – C.SO CARLO ALBERTO + chiusure Pedonali Giardinetti
CHIUSURA TOTALE
26
VIA G. BRUNO – P.ZA UGO BASSI
CHIUSURA TOTALE
27 ANNULLATO
28
VIA COLLEVERDE – VIA PICCHI TANCREDI
29
VIA TAVERNELLE – VIA PICCHI TANCREDI
30
VIA MONTAGNOLA – VIA TORRESI
31
P.ZA UGO BASSI (NEGOZIO MATITA)
CHIUSURA TOTALE
32
P.LE LORETO – INGRESSO CIRCOSCRIZIONE
CHIUSURA TOTALE
33
VIA JESI – CIVICO 4 (NEGOZIO RUMORI) INTERS. VIA JESI LATO P.ZALE LORETO)
CHIUSURA TOTALE
INVERTIRE VIA JESI IN DIREZIONE VIA SENIGALLIA PER FAR USCIRE I VEICOLI DA PIAZZALE LORETO, NO ENTRATA FINO ALLE 19,00
34 ANNULLATO
35
VIA JESI –VIA SENIGALLIA
DIVIETO DI TRANSITO A MT 200 E OBBLIGO SVOLTA A SIX
36
VIA SENIGALLIA CIVICO 25
CHIUSURA TOTALE
37
VIA PESARO (prima di Via Scrima lato monte) – VIA SCRIMA
CHIUSURA TOTALE
38
P.LE CAMERINO – VIA PESARO
SEGNALE DIVIETO DI TRANSITO STRADA CHIUSA A MT. 400
39
P.LE CAMERINO – VIA CIVITANOVA (18-19)
CHIUSURA TOTALE
40
VIA ASCOLI PICENO – VIA MINGAZZINI
41
VIA ASCOLI PICENO – VIA SENIGALLIA (DIREZ. VIA COLOMBRO – VIA ASCOLI PICENO
42
VIA POSATORA – VIA ASCOLI PICENO – VIA SCRIMA
43
VIA CONCA ROTATORIA OSPEDALE
43 BIS
SS 16 SVINCOLO ANCONA NORD
(PREAVVISO VIA FLAMINIA – DIREZIONE ANCONA CHIUSA)
44
VIA CONCA – VIA ESINO
45
VIA FLAMINIA – VIA CONCA (DIREZIONE OBBLIGATORIA DEX ECCETTO….)
45 BIS
VIA FLAMINIA – VIA VELINO
46
VIA FLAMINIA BY PASS PORTO
CHIUSURA TOTALE
2+2 TRANSENNE
46 BIS
VIA MATTEI – VIA MAZZOLA occorre spostare i new jersey che impediscono l’accesso su via Mazzola diresione Nord-Sud)
CHIUSURA TOTALE
47
VIA FLAMINIA – VIA BERTI
CHIUSURA TOTALE
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Reclassification of Non-Compoundable Offences under the Companies Act, 2013: Impact on Section 203
[Radhika Parthasarathy is a 4th Year B.A. LL.B. (Business Law Honours) Student at National Law University, Jodhpur]
Introduction
The Committee to Review Offences under the Companies Act, 2013, was set up by the Ministry of Company Affairs in July 2018 to recommend the recategorization of acts that have been, for so long, cognizable offences under the Companies Act, 2013 [the “Act”]. The Report of the Committee to Review Offences under the Companies Act, 2013 [the “Committee Report”] was released on August 14, 2018. It lays down eight categories of offences that are compoundable under the Act. Of these, the Committee has proposed that the offences falling under Categories IV and V be dealt with by means of in-house adjudication. This Report seeks to make recommendations that aid in improving corporate compliance by leaps and bounds.[1]
Under the Committee Report, Category IV deals exclusively with defaults related to corporate governance norms, while category V pertains to technical defaults committed by companies while conveying certain information in forms to the Registrar of Companies or sending notices to stakeholders. Under category IV of these compoundable offences, the Committee has proposed in house adjudication of these penal provisions due to the presence of sufficient safeguards within the Act.[2] The Committee has proposed such changes in sections 53(3) [Prohibition on Issue of shares at discount], 165(6) [accepting directorship beyond a specified limit], 191(5) [payment to director not to be made in case of loss of office except under certain circumstances], 197(15) [overall maximum managerial remuneration and managerial remuneration in case of loss of profit] and 203(5) [appointment of key managerial personnel in certain class of companies].[3] Over the course of this post, I shall be assessing the current position, the related proposal, and the impact of the proposal on section 203(5).
Is a Key Managerial Person Truly Key to a Company?
Introduction
The term “key managerial person” is defined under section 2(51) of the Act. Further, section 203 of the Act mandates the appointment of key managerial persons [“KMP”] in companies as prescribed under rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 promulgated under the Act. These KMPs must be whole-time personnel and are the:[4]
managing director, or chief executive director or manager, and in their absence, a whole-time director
company secretary, and
chief financial officer.
Under section 203(5), a company contravening this provision would be liable to pay a fine ranging from a minimum of Rs. 1 Lakhs to a maximum of Rs. 5 Lakhs. Further, every defaulting director and KMP of the company would be punishable with a fine which could extend to Rs. 50,000.[5] Additionally, if this default continues, a further fine of Rs. 1000 may be levied for every continuing day of the default.[6] This provision, thus, makes the non-appointment of a KMP a compoundable offence.
Legislative History underscoring Section 203
The need for key managerial persons was highlighted in the J.J. Irani Committee Report [“Irani Report”], which was issued in May, 2005. It stated that KMPs are required for the formulation of polices and execution of policies, and thus are responsible for the fulfilment of the needs of the shareholders and the board of directors.[7] These KMPs, according to the Irani Report, have a “significant role to play in the conduct of the affairs of the company”, thereby determining the quality of governance of the company.[8]
Additionally, the need for KMPs was highlighted in the 2009 Standing Committee Report on the Companies Act, which reviewed the Companies Bill of 2009. The need for KMPs was recognised to ensure a check on “corporate delinquencies”.[9] It also recommended that whole-time directors be recognised as KMPs, irrespective of whether the company has any other managing director or directors.[10] Further, it suggested giving statutory recognition to the chief financial officer and the company secretary as KMPs.[11] Over the course of the Report, this Committee also laid down the various obligations and duties that must be fulfilled by a KMP. The recommendations on the appointment of KMPs were partially accepted and included as clause 2(51) in the Companies Bill, 2011.[12]
On a perusal of these Committee Reports, it seems appropriate to draw the conclusion that the need for KMPs was borne out of a need to ensure strong corporate governance practices. These KMPs have a high level of responsibility and obligations attached to their position, such that there can be no waiving from them.
The Role of and Need for Key Managerial Persons
KMPs, and the persons defined as such, are those who are responsible to the company for the conduct of its business.[13] On a perusal of the Act, it seems as though the Act mandates the appointment of three distinct individuals as key managerial persons.[14] Further, paragraph 10 of Accounting Standard 18 defines KMPs as those persons who have the authority and responsibility of planning, directing and controlling the activities of an enterprise. This position has further been analysed in DLF Limited and ors. v. Securities Exchange Board of India, where a KMP has been defined as one who can exert significant influence over the affairs of the company, and under whose orders a company is accustomed to act.[15]
In the matter regarding Top Telemedia Ltd. And Ors., the Securities and Exchange Board of India observed that a managing director [“MD”] is one who has knowledge of the affairs of the company.[16] This observation led to the conclusion that MDs and whole time directors, who have been identified as KMPs under the Act and whose labilities and roles have been prescribed by the Act, owe a high level of responsibility and duty of care to the company, while carrying out its day-to-day affairs.[17] It has also been held in N. Rangachari v. BSNL, that the duty to show that there is no liability on the part of the directors is, in fact, on the directors or the officers in charge of the company.[18]
However, not all these directors may be in-charge of the day-to-day functioning of the business, and thus will have a lower burden to prove.[19] It becomes clear as day here, again, that KMPs are of great importance to a company. They hold a position that comes with great power and greater responsibilities, and are thus integral to the functioning of their company. In this scenario, it also seems likely that the non-appointment of the KMP would not only be harmful to the interest of shareholders, but it will also be deleterious to the company.
Proposal related to Section 203(5) under the Committee Report
According to the Committee Report, non-appointment of KMPs by companies under section 203 can be found easily on the MCA21 system, which provides a sufficient safeguard for such defaults by initiating summary adjudication proceedings.[20] The MCA21, which was implemented by the MCA in March 2006,[21] is an IT-driven project under the Government’s National e-Governance Plan.[22] The MCA21 is essentially a repository of information related to the company and its assets,[23] which digitalises the memorandum of association, articles of association and certificate of incorporation of the company.[24] Thus, the Committee Report suggests that any non-compliance with Section 203(5) may be subject to in-house adjudication and levying of penalties.[25]
Conclusion: Will the Proposal Truly Ensure Better Corporate Governance Practices?
On the culmination of this post, the author believes that the mandate under section 203 for the appointment of KMPs is one that seeks to improve and enforce corporate governance norms and ensure more efficient corporate practices. Based on the judgments of Indian courts and tribunals, and reports of various committees that have been analysed, it is evident that the KMP holds a position of great value and importance in the corporate structure. The KMPs, being three distinct personnel, i.e. the Company Secretary, Chief Financial Officer, the Managing Director/ Chief Executive Officer/ Manager of the Company, perform various functions, inter alia, related to maintaining the books of accounts kept by the company,[26] handling substantial affairs of the company,[27] administering the investor education and protection fund.[28] These are evidence of the high level of responsibility bestowed upon the KMPs.
The Committee Report seeks to, however, make the non-appointment of such KMPs a non-compoundable offence subject to in-house proceedings, as the Committee believed that such non-appointment would not be a heinous offence, and could easily be redressed by means of the MCA21 system. A similar belief was also put forth by the National Company Law Tribunal [“NCLT”] in Krishna Institute of Medical Sciences Ltd and Ors v. the Registrar of Companies, Andhra Pradesh and Telangana,[29] where the NCLT observed that the non-appointment of a company secretary is not, in fact, an offence of such a serious nature, that would have any impact on the public and shareholders of the company.
This author, however, disagrees with these opinions. This is due to a composite analysis of the opinions given in reports preceding the Committee Report and the cases cited above. By enforcing in-house adjudication for offences under section 203, the author believes that the need and the importance of the said provision may get diluted. Under the Companies Act, 1956, there was no provision pertaining to the appointment of KMPs. However, from 2005, with the Irani Report, and the Companies Bill of 2009, KMPs were introduced as mandatory officers to be appointed by the company to ensure that corporate governance was enforced and “corporate delinquency” was done away with. In permitting companies to settle governance matters internally, it could lead to a situation coloured with prejudice or ambiguity in redressal. Companies may also start avoiding the mandate under section 203 by appointing a single KMP, to reduce management costs or flout compliance norms, and simply choose to pay a fine levied by the in-house adjudicator that may be much lower than what the NCLT may prescribe.
It is the author’s opinion that section 203(5) remain untouched, instead of being dealt with by means of an in-house adjudicator. Amending Section 203(5) would most certainly require amendments in the entirety of Section 203. The author suggests that the Ministry of Corporate Affairs [“The Ministry”] give due thought to the redressal mechanism that would follow, the probable dilution of the powers of the NCLT, and the probable conflict between the roles of the NCLT and the in-house adjudicator in this regard. In any case, if this proposal is enforced, the author hopes that the Ministry suggests a minimum prescribed threshold for the fine that may be levied by the in-house adjudicator and lays down the qualifications of such adjudicators.
– Radhika Parthasarathy
[1] Committee Report, page 5.
[2] Committee Report, page 24, paragraph 1.4.D.3.
[3] Committee Report, page 24, at paragraph 1.4.D.4.
[4] Section 203(1), Companies Act, 2013.
[5] Section 203(5), Companies Act, 2013.
[6] Id.
[7] Ministry of Company Affairs, Report of the Expert Committee on Company Law under Dr. Jamshed J Irani, page 52, at paragraph 34.2 (2005).
[8] Id, at paragraph 34.1.
[9] Overview of Committee’s Examination of Companies Bill, 2009, at paragraph K.54, Companies Bill, 2009.
[10] Part II, at paragraph 17, Companies Bill, 2009.
[11] Ministry of Corporate Affairs, Report of the Standing Committee on Finance, The Companies Bill, 2009, paragraph 10(viii) (2010) [Hereinafter, Companies Bill, 2009].
[12] Ministry of Corporate Affairs, Report of the Standing Committee on Finance, The Companies Bill, 2011, 3 at paragraph 1.7 (2012).
[13] Manish Pharwani v. The National Capital Territory of Delhi and Ors., (2010) ILR 5 Delhi 262.
[14] Ramaiya on Companies Act, 2013, 3527 (2014).
[15] DLF Limited and Ors. v. Securities Exchange Board of India, The Securities Appellate Tribunal, Mumbai, March 13, 2015.
[16] In Re: Top Telemedia Ltd. And Ors., A.O. No. RS/JP/50-57/2016, the Securities and Exchange Board of India, Mumbai, June 06, 2016.
[17] Id.
[18] N Rangachari v. BSNL, AIR 2007 SC 1682.
[19] S.M.S. Pharmaceuticals Limited v. Neeta Bhalla and Anr., (2005) 8 SCC 89.
[20] Committee Report, page 24, at paragraph 1.4.D.2.
[21] Ministry of Company Affairs, MCA21 Programme Launched by Hon’ble Prime Minister of India (Mar. 18, 2006), at http://www.mca.gov.in/Ministry/latestnews/MCA21ProgrammeLaunch.pdf.
[22] National Institute of Smart Governance, MCA 21 – The first Mission Mode Project to be launched under NeGP (July 11, 2013), at https://www.nisg.org/project/41.
[23] Government of India, Press Information Bureau, MCA 21 Second Cycle to Benefit all the Companies and LLPs Registered in India: Dr. M.Veerappa Moily (Sept. 26, 2012) http://pib.nic.in/newsite/mbErel.aspx?relid=87984.
[24] Government of India, Ministry of Company Affairs, MCA 21 Newsletter, No. HQ/ 59/ 2005 (2005).
[25] Committee Report, page 25, at paragraph 1.4.D, Recommendations.
[26] Section 128, Companies Act, 2013.
[27] Section 2(54), Companies Act, 2013.
[28] Section 125, Companies Act, 2013.
[29] Krishna Institute of Medical Sciences Ltd and Ors. v. the Registrar of Companies, Andhra Pradesh and Telangana, 2017 SCC Online NCLT 2271.
The post Reclassification of Non-Compoundable Offences under the Companies Act, 2013: Impact on Section 203 appeared first on IndiaCorpLaw.
Reclassification of Non-Compoundable Offences under the Companies Act, 2013: Impact on Section 203 published first on https://divorcelawyermumbai.tumblr.com/
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really love the blog it’s cool to see so many desi queer people, i just gotta say that from what I’ve seen on tumblr the desi queer scene (like many other things) tends to be heavily dominated by north indian hindi speaking folks. idk it just makes me really uncomfortable when all we can ever discuss is. “what if we shipped the two guys from this really misogynistic bollywood movie” “mahabharat but make it ✨gay” (as if making it #representation like some bloody anime erases a couple millennia of caste and gender based oppression) (also the fact that we’re not all hindu cough cough)
enjoying media is cool and all. great. you do you. idk this sounds whiny but it’s just really disappointing that we’re more focused on infighting and squabbling over which identity is which and which ship is valid and less on civil rights (and no i don’t mean gay marriage* for the love of fuck) (also whatever advocacy i do see is so overwhelmingly assimilationist oh my god)
*theres more nuance to this ofc but marriage still remains an overwhelmingly patriarchal and casteist institution particularly!!! in desi folks!!! and maybe we should question that a bit (ofc gay marriage should be legal but christ people are acting like that’s the be all end all of the rights we can have)
Oh god yes sometimes queer representations do get dominated by the north Indian hindu and hindi speaking people. But it's just a statistic game at this point. We do promote all kind of discussions that come our way and we see a lot of bangla and Tamil and marathi queer representation here within our community too as there are fair number of those people here. I have my own opinions on toxic movie shipping or Mahabharata shipping but i don't largely disagree with you.
Regarding queer rights... Yess, there are a lot more rights we as queer people need to fight for. The equality doesn't end, does not even begin at marriage equality. But in a society that places so much value on the patriarchal and casteist institution of marriage, having marriage equality is a far bigger win than it would ordinarily be. We do need to have amendments in existing anti discrimination acts to include queer people to prevent discrimination in employment or housing or adoption processes.
We should definitely have all these conversations. I definitely agree it's hard to have these conversations when all the other noise is way too much.
If you do come across unique or different queer media or any queer issue that needs attention, please come and share with us. Thank you for sharing what you feel with us. I hope you feel a little lighter now.
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My anonymous confession is that I lowkey want all Desi queers to be blessed with the happy ending they deserve! May we find reciprocated love (or not, if solitude is your fort). Amen.
Oh god don't we all... Thank you anon 🥺
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Being a pakistani lesbian can be frustrating. Like you want to leave the homophobic environment and live a fresh new life with a gf, while also being simultaneously cautious of whichever country you choose to go since the racism and xenophobia will be kind of exhausting to deal with :/
God that even sounds exhausting. Sending love and strength from India and thank you for sharing. I hope our little community on Tumblr is more welcoming and comforting to you.
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anon confession im in love with my best friend. he's perfect. i don't know how else to put it. he is. he definitely does not know even though i have used the words "i am in love with you" multiple times but every single time we flirt (or hold hands. or sit in each other's laps. or lean on each other's shoulders. or confess our love for each other) its always like behind a layer of plausible deniability like yeah cool we're flirting or whatever the fuck but yknow. its a joke we're just being ironic. we dont mean it (i do). it hurts more than if we were just formal or whatever
(maybe its a no homo thing? most likely not. he's definitely not straight, he's figuring it out i dont know.)
i definitely dont blame him (he has his own emotional issues) but. man i wish i could just gather up the courage to say it for real once and for all
Ayy classic yearning story, we're all suckers for friends to lovers here 🥺
God it's definitely really hard tho, i feel your struggle... All the best anon... Go forth and prosper and be gay and all that
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so umm... ig i can make a confession here? oh god ok so i'm aroace but i want to fall in love. i want to FEEL just once what it is like to have romantic attraction to a person. i mean, sometimes, it does sound weird & awful but sometimes, i just want to experience what it feels to yearn for another person ig? i mean it is not possible but ughhh idk if it internalized aphobia or not but like god, i just want to KNOW what people talk about.
it's like wanting but not being able to actually feel any of it as it is not in my control.
Oh anon I'm really sorry that you're struggling with your identity like that. It's okay. Our roads to acceptance are always smooth. Things would definitely be easier if we weren't queer afterall and even though this is the pride month and we will preach about loving ourselves till our throats are hoarse, it's not unrealistic to be frustrated sometimes.
Ofcourse you want to know what loving someone romantically feels like. It's so hyped. I hope you one day come to terms with it but it's okay if that day is not today. You already love a lot of things and that love is precious even if it's not romantic. We haven't always valued it as high but trust me it's just as beautiful as romantic love. Stay loving, my friend 💞
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just realised that today is a good day to talk about crushes on here
so yeah i have a crush on someone in my theatre group and they’re literally so amazing and talented and we like a lot of the same things?? and in theory i have a chance because they’re single and a lesbian however in practice i have. no chance at all. because i have horrific social anxiety and hence am absolutely shit at holding a conversation.
Theatre group? They're lesbian AND single??? Omg you should def go for it? Do they have Tumblr? Do you want us to play matchmaker? Oooo keep us updated if anything happens!!!!
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Desi LGBT Fest 2022 Day 29: Anonymous Confession
Heyoooo it's the penultimate prompt for the fest! Send us anonymous confessions! Whatever you feel like! About the fest, about being queer, about being desi, whatever you'd like to tell us!!!
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Anonymous confession.
Only want the best for Mozima. Mistakes don't make a person.
I agree with you even if i dony know who Mozima is.
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Reclassification of Non-Compoundable Offences under the Companies Act, 2013: Impact on Section 203
[Radhika Parthasarathy is a 4th Year B.A. LL.B. (Business Law Honours) Student at National Law University, Jodhpur]
Introduction
The Committee to Review Offences under the Companies Act, 2013, was set up by the Ministry of Company Affairs in July 2018 to recommend the recategorization of acts that have been, for so long, cognizable offences under the Companies Act, 2013 [the “Act”]. The Report of the Committee to Review Offences under the Companies Act, 2013 [the “Committee Report”] was released on August 14, 2018. It lays down eight categories of offences that are compoundable under the Act. Of these, the Committee has proposed that the offences falling under Categories IV and V be dealt with by means of in-house adjudication. This Report seeks to make recommendations that aid in improving corporate compliance by leaps and bounds.[1]
Under the Committee Report, Category IV deals exclusively with defaults related to corporate governance norms, while category V pertains to technical defaults committed by companies while conveying certain information in forms to the Registrar of Companies or sending notices to stakeholders. Under category IV of these compoundable offences, the Committee has proposed in house adjudication of these penal provisions due to the presence of sufficient safeguards within the Act.[2] The Committee has proposed such changes in sections 53(3) [Prohibition on Issue of shares at discount], 165(6) [accepting directorship beyond a specified limit], 191(5) [payment to director not to be made in case of loss of office except under certain circumstances], 197(15) [overall maximum managerial remuneration and managerial remuneration in case of loss of profit] and 203(5) [appointment of key managerial personnel in certain class of companies].[3] Over the course of this post, I shall be assessing the current position, the related proposal, and the impact of the proposal on section 203(5).
Is a Key Managerial Person Truly Key to a Company?
Introduction
The term “key managerial person” is defined under section 2(51) of the Act. Further, section 203 of the Act mandates the appointment of key managerial persons [“KMP”] in companies as prescribed under rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 promulgated under the Act. These KMPs must be whole-time personnel and are the:[4]
managing director, or chief executive director or manager, and in their absence, a whole-time director
company secretary, and
chief financial officer.
Under section 203(5), a company contravening this provision would be liable to pay a fine ranging from a minimum of Rs. 1 Lakhs to a maximum of Rs. 5 Lakhs. Further, every defaulting director and KMP of the company would be punishable with a fine which could extend to Rs. 50,000.[5] Additionally, if this default continues, a further fine of Rs. 1000 may be levied for every continuing day of the default.[6] This provision, thus, makes the non-appointment of a KMP a compoundable offence.
Legislative History underscoring Section 203
The need for key managerial persons was highlighted in the J.J. Irani Committee Report [“Irani Report”], which was issued in May, 2005. It stated that KMPs are required for the formulation of polices and execution of policies, and thus are responsible for the fulfilment of the needs of the shareholders and the board of directors.[7] These KMPs, according to the Irani Report, have a “significant role to play in the conduct of the affairs of the company”, thereby determining the quality of governance of the company.[8]
Additionally, the need for KMPs was highlighted in the 2009 Standing Committee Report on the Companies Act, which reviewed the Companies Bill of 2009. The need for KMPs was recognised to ensure a check on “corporate delinquencies”.[9] It also recommended that whole-time directors be recognised as KMPs, irrespective of whether the company has any other managing director or directors.[10] Further, it suggested giving statutory recognition to the chief financial officer and the company secretary as KMPs.[11] Over the course of the Report, this Committee also laid down the various obligations and duties that must be fulfilled by a KMP. The recommendations on the appointment of KMPs were partially accepted and included as clause 2(51) in the Companies Bill, 2011.[12]
On a perusal of these Committee Reports, it seems appropriate to draw the conclusion that the need for KMPs was borne out of a need to ensure strong corporate governance practices. These KMPs have a high level of responsibility and obligations attached to their position, such that there can be no waiving from them.
The Role of and Need for Key Managerial Persons
KMPs, and the persons defined as such, are those who are responsible to the company for the conduct of its business.[13] On a perusal of the Act, it seems as though the Act mandates the appointment of three distinct individuals as key managerial persons.[14] Further, paragraph 10 of Accounting Standard 18 defines KMPs as those persons who have the authority and responsibility of planning, directing and controlling the activities of an enterprise. This position has further been analysed in DLF Limited and ors. v. Securities Exchange Board of India, where a KMP has been defined as one who can exert significant influence over the affairs of the company, and under whose orders a company is accustomed to act.[15]
In the matter regarding Top Telemedia Ltd. And Ors., the Securities and Exchange Board of India observed that a managing director [“MD”] is one who has knowledge of the affairs of the company.[16] This observation led to the conclusion that MDs and whole time directors, who have been identified as KMPs under the Act and whose labilities and roles have been prescribed by the Act, owe a high level of responsibility and duty of care to the company, while carrying out its day-to-day affairs.[17] It has also been held in N. Rangachari v. BSNL, that the duty to show that there is no liability on the part of the directors is, in fact, on the directors or the officers in charge of the company.[18]
However, not all these directors may be in-charge of the day-to-day functioning of the business, and thus will have a lower burden to prove.[19] It becomes clear as day here, again, that KMPs are of great importance to a company. They hold a position that comes with great power and greater responsibilities, and are thus integral to the functioning of their company. In this scenario, it also seems likely that the non-appointment of the KMP would not only be harmful to the interest of shareholders, but it will also be deleterious to the company.
Proposal related to Section 203(5) under the Committee Report
According to the Committee Report, non-appointment of KMPs by companies under section 203 can be found easily on the MCA21 system, which provides a sufficient safeguard for such defaults by initiating summary adjudication proceedings.[20] The MCA21, which was implemented by the MCA in March 2006,[21] is an IT-driven project under the Government’s National e-Governance Plan.[22] The MCA21 is essentially a repository of information related to the company and its assets,[23] which digitalises the memorandum of association, articles of association and certificate of incorporation of the company.[24] Thus, the Committee Report suggests that any non-compliance with Section 203(5) may be subject to in-house adjudication and levying of penalties.[25]
Conclusion: Will the Proposal Truly Ensure Better Corporate Governance Practices?
On the culmination of this post, the author believes that the mandate under section 203 for the appointment of KMPs is one that seeks to improve and enforce corporate governance norms and ensure more efficient corporate practices. Based on the judgments of Indian courts and tribunals, and reports of various committees that have been analysed, it is evident that the KMP holds a position of great value and importance in the corporate structure. The KMPs, being three distinct personnel, i.e. the Company Secretary, Chief Financial Officer, the Managing Director/ Chief Executive Officer/ Manager of the Company, perform various functions, inter alia, related to maintaining the books of accounts kept by the company,[26] handling substantial affairs of the company,[27] administering the investor education and protection fund.[28] These are evidence of the high level of responsibility bestowed upon the KMPs.
The Committee Report seeks to, however, make the non-appointment of such KMPs a non-compoundable offence subject to in-house proceedings, as the Committee believed that such non-appointment would not be a heinous offence, and could easily be redressed by means of the MCA21 system. A similar belief was also put forth by the National Company Law Tribunal [“NCLT”] in Krishna Institute of Medical Sciences Ltd and Ors v. the Registrar of Companies, Andhra Pradesh and Telangana,[29] where the NCLT observed that the non-appointment of a company secretary is not, in fact, an offence of such a serious nature, that would have any impact on the public and shareholders of the company.
This author, however, disagrees with these opinions. This is due to a composite analysis of the opinions given in reports preceding the Committee Report and the cases cited above. By enforcing in-house adjudication for offences under section 203, the author believes that the need and the importance of the said provision may get diluted. Under the Companies Act, 1956, there was no provision pertaining to the appointment of KMPs. However, from 2005, with the Irani Report, and the Companies Bill of 2009, KMPs were introduced as mandatory officers to be appointed by the company to ensure that corporate governance was enforced and “corporate delinquency” was done away with. In permitting companies to settle governance matters internally, it could lead to a situation coloured with prejudice or ambiguity in redressal. Companies may also start avoiding the mandate under section 203 by appointing a single KMP, to reduce management costs or flout compliance norms, and simply choose to pay a fine levied by the in-house adjudicator that may be much lower than what the NCLT may prescribe.
It is the author’s opinion that section 203(5) remain untouched, instead of being dealt with by means of an in-house adjudicator. Amending Section 203(5) would most certainly require amendments in the entirety of Section 203. The author suggests that the Ministry of Corporate Affairs [“The Ministry”] give due thought to the redressal mechanism that would follow, the probable dilution of the powers of the NCLT, and the probable conflict between the roles of the NCLT and the in-house adjudicator in this regard. In any case, if this proposal is enforced, the author hopes that the Ministry suggests a minimum prescribed threshold for the fine that may be levied by the in-house adjudicator and lays down the qualifications of such adjudicators.
– Radhika Parthasarathy
[1] Committee Report, page 5.
[2] Committee Report, page 24, paragraph 1.4.D.3.
[3] Committee Report, page 24, at paragraph 1.4.D.4.
[4] Section 203(1), Companies Act, 2013.
[5] Section 203(5), Companies Act, 2013.
[6] Id.
[7] Ministry of Company Affairs, Report of the Expert Committee on Company Law under Dr. Jamshed J Irani, page 52, at paragraph 34.2 (2005).
[8] Id, at paragraph 34.1.
[9] Overview of Committee’s Examination of Companies Bill, 2009, at paragraph K.54, Companies Bill, 2009.
[10] Part II, at paragraph 17, Companies Bill, 2009.
[11] Ministry of Corporate Affairs, Report of the Standing Committee on Finance, The Companies Bill, 2009, paragraph 10(viii) (2010) [Hereinafter, Companies Bill, 2009].
[12] Ministry of Corporate Affairs, Report of the Standing Committee on Finance, The Companies Bill, 2011, 3 at paragraph 1.7 (2012).
[13] Manish Pharwani v. The National Capital Territory of Delhi and Ors., (2010) ILR 5 Delhi 262.
[14] Ramaiya on Companies Act, 2013, 3527 (2014).
[15] DLF Limited and Ors. v. Securities Exchange Board of India, The Securities Appellate Tribunal, Mumbai, March 13, 2015.
[16] In Re: Top Telemedia Ltd. And Ors., A.O. No. RS/JP/50-57/2016, the Securities and Exchange Board of India, Mumbai, June 06, 2016.
[17] Id.
[18] N Rangachari v. BSNL, AIR 2007 SC 1682.
[19] S.M.S. Pharmaceuticals Limited v. Neeta Bhalla and Anr., (2005) 8 SCC 89.
[20] Committee Report, page 24, at paragraph 1.4.D.2.
[21] Ministry of Company Affairs, MCA21 Programme Launched by Hon’ble Prime Minister of India (Mar. 18, 2006), at http://www.mca.gov.in/Ministry/latestnews/MCA21ProgrammeLaunch.pdf.
[22] National Institute of Smart Governance, MCA 21 – The first Mission Mode Project to be launched under NeGP (July 11, 2013), at https://www.nisg.org/project/41.
[23] Government of India, Press Information Bureau, MCA 21 Second Cycle to Benefit all the Companies and LLPs Registered in India: Dr. M.Veerappa Moily (Sept. 26, 2012) http://pib.nic.in/newsite/mbErel.aspx?relid=87984.
[24] Government of India, Ministry of Company Affairs, MCA 21 Newsletter, No. HQ/ 59/ 2005 (2005).
[25] Committee Report, page 25, at paragraph 1.4.D, Recommendations.
[26] Section 128, Companies Act, 2013.
[27] Section 2(54), Companies Act, 2013.
[28] Section 125, Companies Act, 2013.
[29] Krishna Institute of Medical Sciences Ltd and Ors. v. the Registrar of Companies, Andhra Pradesh and Telangana, 2017 SCC Online NCLT 2271.
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