NOLEGEIN Journal of Corporate & Business Laws 2018 Issue 2 by Mba Journals

NOLEGEIN Journal of Corporate & Business Laws

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NOLEGEIN Journal of Corporate & Business Laws Nolegein - Journal of Corporate & Business Laws is focused towards the rapid publication in the following areas of

Focus and Scope of the Journal ! Delegated Management ! Contracts: Formation and Contents ! Competition and Consumer Law ! Corporate governance and corporate finance ! Partnership (General, Limited, Limited liability) ! Business Organizations and internal rules ! Balance of power ! Director's duties and liabilities ! Corporate Liability: Contract, Tort and Crime

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NOLEGEIN Journal of Management Information Systems NOLEGEIN Journal of Business Ethics , Ethos & CSR NOLEGEIN Journal of Entrepreneurship Planning, Development and Management NOLEGEIN Journal of Operations Research & Management NOLEGEIN Journal of Supply Chain and Logistics Management

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NOLEGEIN Journal of Business Risk Management NOLEGEIN Journal of Corporate & Business Laws NOLEGEIN Journal of Organizational Behavior Management NOLEGEIN Journal of Leadership and Strategic Management

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EDITORIAL BOARD MEMBERS Ansuman Jena Assistant Professor Department of Management, Centurion Institute of Technology, Bhubaneswar, Odisha, India

Dr. S Harish Babu Professor and Head Department of Finance, Marketing and General Management, Nitte Meenakshi Institute of Technology, Bengaluru, Karnataka, India

Dr. Rohini Jha Assistance Professor Department of Management, Birla Institute of Technology, Ranchi, Jharkhand, India

Dr. Vivek Yeshwant Dhupdale Assistant Professor P. G. Department of Law, Shivaji University, Kolhapur, Maharashtra, India

Dr. Tapas Kumar Chatterjee Associate ProfessorMarketing Department of Marketing, Institute of Management Technology, Nagpur, Maharashtra, India

Dr. Roop Kishore Singhal Assistant Professor Department of Management, Sinhgad Institute of Management, Pune, Maharashtra, India

Ms. Samita R. Mahapatra Assistant Professor Department of Management, Sinhgad Institute of Management, Pune, Maharashtra, India

Dr. Kavitha Chalakkal Assistant Director and Assistant Professor Department of Law, Lloyd law college, Greater Noida, Uttar Pradesh. India

From the Editor's Desk Dear Readers, We would like to present, with great pleasure, the inaugural First volume of a new scholarly journal, NOLEGEIN Journal of Corporate & Business Laws. This journal is part of the Corporate & Business Laws, and is devoted to the scope of present management issues, from different. This new journal was planned and established to represent the growing needs of marketing as an emerging and increasingly vital field, now widely recognized as an integral part of Management. Its mission is to become a voice of the Management community, addressing researchers and practitioners in this area. The core vision of NOLEGEIN Journal of Corporate & Business Laws in MBA Journals is to propagate novel awareness and know-how for the profit of mankind ranging from the academic and professional research societies to industry practitioners in a range of topics in advertising in general. MBA Journals acts as a pathfinder for the scientific community to published their papers at excellently, well-time & successfully. NOLEGEIN Journal of Corporate & Business Laws focuses on original high-quality research in the Business Organizations, internal rules, Director's duties, liabilities, Corporate Liability: Contract, Tort and Crime etc. The Journal is intended as a forum for practitioners and researchers to share the views of Corporate & Business Laws in the area. Many researchers have contributed to the creation and the success of the Corporate & Business Laws. We are very thankful to everybody within that community who supported the idea of creating an innovative platform. We are certain that this issue will be followed by many others, reporting new developments in the field of Corporate & Business Laws. This issue would not have been possible without the great support of the Editorial Board members, and we would like to express our sincere thanks to all of them. We would also like to express our gratitude to the editorial staff of MBA Journals, who supported us at every stage of the project. It is our hope that this fine collection of articles will be a valuable resource for Management readers and will stimulate further research into the vibrant area of Corporate & Business Laws.

Puneet Mehrotra Managing Director

Contents Worker Director Scheme Revisited: Re-packaging and Revival for a Changed Era in India, a Torch Bearer for the World

Athar Mahmood Emotional Intelligence and Cross-Cultural Communication in the Context of Business Endeavors

H.S. Vyas, Kumardatt Ashok Ganjre Policy Initiatives for Start Ups: The India Story

Trilok Kumar Jain War of Sexes in Sporting Disciplines: A Blow at Equality, Fairness and Feminism

Nikita Kaushik A Study on Mergers and Banks Performance in India H.S. Vyas

NOLEGEIN Journal of Corporate & Business Laws eISSN: 2581-7779 Vol. 1: Issue 2

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Worker Director Scheme Revisited: Re-packaging and Revival for a Changed Era in India, a Torch Bearer for the World Athar Mahmood* Assistant Professor, Jaipuria Institute of Management, Vineet Khand, Gomti Nagar, Lucknow, Uttar Pradesh, India

ABSTRACT With the New Economic Policy, the entire field of industrial relations, now renamed as employee relations, has undergone a metamorphosis. Workers participation in Management has also undergone similar changes. With a more educated and informed workforce, the need of the hour is to introduce or redesign schemes that match contemporary trends. This study makes a case for reviving the Worker Director Scheme launched in the 1970s by the government of India. After a review of literature that explains the Worker Director Schemes to be failure in major parts of the world, the reasons for failure in India are highlighted. Next, the changing times and various factors are highlighted which are conducive for bringing the scheme again. Finally, the things to be considered while re-launching this scheme are highlighted. Some of these include proper training, open communication channel, role clarity and equitable treatment of the Worker Director. The study concludes by suggesting a revival of Worker Director Scheme given the changed time and circumstances but with all the aforesaid considerations. Keywords: change, board of directors, industrial relations, worker director, worker participation in management

INTRODUCTION Workers Participation in Management or WPM is a system where workers get a chance to participate in the overall functioning of their enterprise. The concept developed not only to arrest the exploitation of workers but also to empower them. This is turn would lead to a motivated workforce with a sense of ownership. The overall objective is to attain industrial growth, peace and democracy. As per Second Five Year Plan (1956) [1], it is necessary that workers be made to feel that they are helping to build a progressive state. Workers Participation in Management works at different levels. It can be as simple as sharing of information known as

informative level, to consulting them in day to day affairs (consultative), making them partners in administration (administrative) and to take them to the highest level of decision making (decisive level). All over the world schemes have been introduced to ensure participation of workers at all the aforesaid levels. In India, some prominent schemes have been Works Committee, Joint Management Councils, Worker Director, The 1975 WPM scheme, The Equity Bill of 1985 and others. With the New Economic Policy, the entire field of industrial relations, now renamed as employee relations, has undergone a metamorphosis. Workers Participation in Management has also undergone similar changes. With a more educated and

NOLEGEIN Journal of Corporate & Business Laws eISSN: 2581-7779 Vol. 1: Issue 2

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Emotional Intelligence and Cross-Cultural Communication in the Context of Business Endeavors H.S. Vyas1, Kumardatt Ashok Ganjre2,* 1

Registrar, Deviprasad Goenka Management College of Media Studies, Mumbai, Maharashtra, India Director, Deviprasad Goenka Management College of Media Studies, Mumbai, Maharashtra, India

ABSTRACT The focus of this theory is to examine the role of emotional intelligence (EI) in business communications and describes the crucial role it plays in establishing skills that are vital to a firm’s global network of operations. As of significance in amplified globalization, organizational environments are becoming enormously composite and considerably more culturally diverse. In reaction to this growing trend, a key question for managers is to establish how to progress organizational consciousness of the thoughts, feeling and emotions that dwell in other dissimilar cultures. By focusing on how gender variety can potentially impact group functioning, we hope to draw awareness to the need for an amplified understanding of the behavioral tendencies and significance orientations that exist among unrelated others and by inference, dissimilar cultures. The findings recommend that EI has a greater impact on the performance level of gender of different groups than that of their homogeneous counterparts. The results are discussed in correlation with cross-cultural competencies and skills that are essential for a multinational enterprise. Keywords: corporate communications, emotional intelligence, globalization, group dynamics, multinational companies

INTRODUCTION Cultural factors have long been known to influence communications, both within and between organizations. Accordingly, as companies expand into foreign markets, many are finding that stylistic tendencies in the home office frequently conflict with those of their global subsidiaries. Not surprisingly, with over 200 nation-states in the world, these cultural differences are continuously emerging and converging all across an organization’s global network of operations. Unfortunately, such cultural variations frequently act as an invisible barrier in international business communications, often representing a significant impediment to a successful venture overseas [4]. For that reason, managing stylistic variations between diverse national contexts offers a

significant competitive advantage for firms operating in foreign markets. The Cultural Norms of International Business Communication Some nations’ claims will affect public policy on international trade rules. They also might initiate worldwide cultural protectionism for transnational trading. As the voice of cultural rights increases, firms doing business internationally will face other challenges from other dimensions of culture. From a management perspective, it is important for companies to realize that markets today are worldwide and crosscultural [2]. Cross-Cultural Issues: As more and more firms enter the international arena, the challenge of

NOLEGEIN Journal of Corporate & Business Laws eISSN: 2581-7779 Vol. 1: Issue 2

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Policy Initiatives for Start Ups: The India Story Trilok Kumar Jain Director, Ecosystem for Innovation and Entrepreneurship, Suresh Gyan Vihar University Jaipur, India.

ABSTRACT The author reviews the concept of startup and how it should be promoted. The author suggests that the ecosystem to promote startups is necessary. The author suggests that there is a need to create a system to promote innovations, entrepreneurship and to create ease of business. The author critically discusses the case study of India and finds the reasons for lack of desired success. Keywords: Startup, Entrepreneurship, Innovation, Policy, India

INTRODUCTION Startups refer to a new business unit, which is either under process of formation or has just been formed. This is the phase where the business model is still in development phase. The promoter of startup is trying to prepare a product which will be acceptable in the market and therefore there is an experiment with regard to product, market, target customer, services to be offered, terms and conditions of the business etc. STARTUP ECOSYSTEM Startups are experimental stage business ventures, which have yet to establish product-market-customer structure and which have yet to establish a well defined business model. It is truly the starting phase of an organization. Startups focus on building an innovative business model and therefore they require some time to clearly establish their identify. Research studies have found that startups contribute to overall entrepreneurship and job creation. The startup of today would be a flourishing organization of tomorrow; therefore there would be lot of scope of job creation. Startups are based on systematic study of markets, customers and society, so we can call them the

torchbearers of the future. Startups engage in initiatives which are catering to the needs and demands of the society. Startups work from minimum resources and keep adding additional resources or products as per the opportunities in the market. Startups take up “bird in the hand” argument of taking up ventures, which can be easily launched with minimum requirements of additional resources. Startups take up the needs of common people and find out innovative means of fulfilling those needs. The innovations can be at any stage of value delivery. Innovation can be at the stage of product design and delivery. Startups assess the gap in the market in terms of customer expectations and availability of products and services. Startups exploit their flexibility in product and service design so that they are able to reach and exceed the expectations of the customers. Generally startups leverage on technological advances. They take up a high-tech sector and introduce technology for mass-product application. They use latest technology to create differentiation. Startups thrive in an ecosystem where there is appreciation for high-technology

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WAR OF SEXES IN SPORTING DISCIPLINES: A BLOW AT EQUALITY, FAIRNESS AND FEMINISM Nikita Kaushik Student, Geeta Institute of Law, Panipat, Haryana, India

ABSTRACT The advocates of human rights speak highly of giving women equal opportunities by recognizing the international mandate to safeguard their rights and yet, a premier institution such as that of International Olympic Committee, gives importance to the distinctions that act as a hindrance in her growth process. This trend reflects deepening discrimination to such levels that it suppresses a woman’s dream of moving ahead in life. The paper focuses on bias in distribution of events for women particularly in Olympic Games. Imagine giving yourself completely to a sporting discipline, so much that you work day and night to convert the dream of becoming something great into a reality. Dreams, aspirations, hard work do not see the sex of a person but one’s gender has become a great deal when it comes to sports. The concept of intelligible differentia applies to women and works for their empowerment but protecting women is different from restraining them to display their skills. No doubt, separate events are justifiable due to biological differences between the two sexes but where physical strength does not play a primary role and emphasis is more on strategy, skills and tactics, segregation will lead to inequality. This distinction has given rise to social inequality, gender stereotyping in televised sports and ultimately, acceptability of women in sports. Despite having Olympic Charter and Code on Sports, nothing substantial is being done to improve the participation of women in sports. However, in Olympics 2020, to be held in Tokyo, efforts have been made to improve gender equality with highest ever number of women’s events. This is just the beginning; a lot has to be done in this regard. Keywords: Olympic Games, Social inequality, Gender stereotyping, Human rights, Participation, Empowerment.

INTRODUCTION ‘In contests involving strength, speed and reactive ability, women are nowhere near as good as men’ [1]. A man’s built is entirely different from that of a woman. She is considered beautiful, delicate, and sensitive. He, on the other hand, is considered muscular, rugged, brawny and of course, the protector of the inferior sex. It took us ages to change this dogmatic concept defining the roles of a man and a woman. And today, yet again, we stand in front of the age-old perception of women and

restricting their abilities. In our day-to-day life, a woman works equally hard as a man and gender integration has been accepted almost everywhere. In all other spheres, women have stood on equal footing as men but sports as an activity has segregated its players on the basis of sex. Modern Olympic Games were founded by Baron Pierre de Coubertin and till the time he lead the IOC, he did not promote women’s events. He described Olympics as “the solemn and periodic exaltation of male athleticism with internationalism as a base, loyalty as a means, art for its setting, and female applause as reward” [2]. The

NOLEGEIN Journal of Corporate & Business Laws eISSN: 2581-7779 Vol. 1: Issue 2

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A Study on Mergers and Banks Performance in India H.S. Vyas Registrar, RSET’s Deviprasad Goenka Management College of Media Studies, RSET Campus, Malad (West), Mumbai, Maharashtra, India

ABSTRACT This research aims at evaluating the synergies gained from bank mergers by dividing them into two categories of forced mergers and market driven mergers. The result indicate that market have reacted negatively to the announcement of forced mergers while the reaction has been positive to that of market driven mergers. In line with the market expectation, forced mergers have not added any value to financial performance of merged banks in the post merger period. Although market driven mergers have not immediately improved the financial performance of merged banks, but they have improved the operating performance of merged banks and have provided these banks an edge over the competitors in terms of geographic dispersion and thus have provided a better vehicle growth. Keywords: driven merger, forced merger, banking industry

INTRODUCTION Mergers and acquisitions (M&A) and corporate restructuring are a big part of the corporate finance world. Globally mergers and acquisitions have become a major way of corporate restructuring and the financial services industry has also experienced merger waves leading to the emergence of very large banks and financial institutions. The key driving force for merger activity is severe competition among firms of the same industry which puts focus on economies of scale, cost efficiency, and profitability. The Mergers and acquisitions (M&A) have two types of approaches they are as follows. DRIVEN MERGERS There have been a few mergers in Indian banking with expansion, diversification, and overall growth as the primary objectives. The first of its kind in the post 1993 period was the acquisition of Times Bank by HDFC bank subsequently followed by Bank of Madura’s acquisition by ICICI Bank [1].

FORCED MERGERS Many small and weak banks have been forcefully merged with other banks mainly to protect the interests of depositors. Normally the acquiring bank takes up all assets and liabilities of the weak bank and ensures payment to all depositors in case they wish to withdraw their claims. In 2004 South Gujarat Local Area Bank was acquired by Bank of Baroda followed by Oriental Bank of Commerce acquired Global Trust Bank Ltd. [2, 3]. Table 1 states statistics on number of Bank Mergers in India and Table 2 states the objective behind Merger and Acquisition (M&A) Transaction. STATEMENT OF THE PROBLEM Nowadays incidences of merger and acquisition in banks are on a rise at a global level. The main purpose of these merger and acquisition is to improve competitiveness and to gain more market share [4, 5]. This research study was aimed to study the impact of mergers on the operating performance and share price of acquiring corporate in banking, by