Vol 7 Issue No.75 Jan - Feb 2018
Printed by: Ajit Ravi Published by: Ajit Ravi Owned by: Ajit Ravi Printed at: S T Reddiar P.B. No: 3627, Veekshanam Road, Cochin Published at: Pegasus, L5-106 Changampuzha Nagar Kalamassery Ernakulam-682 033 e-mail: email@example.com firstname.lastname@example.org Ph:0484 3242220, 6555533, 4025666 Mob:+91 98460 50283, 94470 50283 Editor Ajit Ravi Sub-Editor Vignesh Associate Editor Ravi Saini Editor-In-charge Jebitha Ajit Legal Advisor Latha Anand B.S.Krishnan Associates email@example.com Correspondents Dr. Thomas Nechupadam Vivek Venugopal- Quarter Mile Amrutha V Kumar Karthika S Nair Marketing UAE Phygicart.com P.O. Box: 92546, Al Karama Dubai Mr. Anish K Joy Mob: +971528946999 firstname.lastname@example.org Tamil Nadu Vice president Uma Riyas Khan chennai, Mob: 9841072955 Unique Times, No.6/31, Arunachalam main road, Saligramam, Chennai – 600093 Andhrapradesh & Karnataka PEGASUS Ph: 09288800999 Sunilkumar NN, Saneesh Ashok Your wing Director Shwetha Menon Photographer Ashique Hassan Creative Design PEGASUS
Cover Photograph Mr. Vinayan T.P. The Chairman of Kent Constructions Pvt. Ltd
ome’s leading intellectual figure in the mid-1st century,Lucius Annaeus Senec once said:
“If one does not know to which port one is sailing, no wind is favourable “ The success of Vinayan T.P, the Chairman of the Kent constructions, is his clear understanding of goals. To reach out the goals, he dedicates his passions, hardwork, knowledge etc. to crossover the headwinds. Do you think the GST will curtail the red-tape, plug leakages and pave the way for a fully transparent indirect tax regime? This is the crucial question raised by V.P. Nandakumar, the Chairman and Managing Director of Manappuram Finance, in his regular column. It is quite fuel efficient champion than the earlier models and returning over 16.2kmpl in mixed conditions in our tests.The Volkswagen Passat has always been the proper middle ground between the executive cars and the entry level sedans. Have you ever dreamt about an adventurous trip to the world’s last pristine wildness? Antarctica is the answer for the question, Regular staples on stock market, gadgets, banking, movie review, and book review are there. I sincerely hope you find as much joy in this issue as it brings me.
Indiaâ€™s GST reform
Time to prepare for life long education...
surmounting & conquering!
Time to revisit the Law under NIA - 138
overview of the companies (amendment) bill, 2017
10 New Year Resolutions You Could Take For Maintaining Your Appearance
An adventurous trip to the worldâ€™s last pristine wildness
Centre to encourage rooftop solar installations in residences
he central government is likely to encourage rooftop solar installations in residences across the country with the help of subsidies. A concept paper proposing the aforementioned plan has been prepared by the Ministry of New and Renewable Energy. As per the concept paper, the concerned department should help those residents who wish to install rooftop solar installations by giving proper financial support to them. The paper has also observed that the support what the residents are getting at this moment is not very effective to promote the clear energy in the country. Experts say that the new proposal would be a perfect step to strengthen the clear energy sector of the country.
Reliance Jio to buy the assets of RCom
"Stop chasing the money and start chasing the passion." Tony Hsieh
elecom service provider giant Reliance Jio, which is owned by powerful businessman Mukesh Ambani, is set to buy the assets of Reliance Communications Limited (RCom), which is led by renowned businessman Anil Ambani. The move has come in the wake of a crucial meeting organised by the money lenders to whom the RCom owe a huge sum. As per the media report, the Reliance Jio has expressed its interest to buy the RComâ€™s spectrum assets, telecom towers and optic fiber network. It has been reported that Bharat Airtel and Vodafone have also come forward to buy the spectrum assets of RCom.
India likely to become $7 trillion economy by 2030
iving immense strength to the aspirations of Indian youth population, Prime Ministerâ€™s Economic Advisory Council and NITI Aayog member Bibek Debroy has asserted that our country is likely to become a $7 trillion economy by the year 2030. The economic expert has further said that our country might become a $10 trillion economy by the year 2035. Some other renowned economic experts have observed that this high growth rate is very important to reduce the unemployment rate and poverty rate. It is learned that since the year 2011 the growth rate has been growing in the rate of 2% lower as the country has been focusing on long-term structural changes since the mentioned year.
NDA to prepare a pro-rural budget for 2018-19
"Fall seven times and stand up eight." Japanese Proverb
he National Democratic Alliance, the group of parties led by the BJP which is ruling India, is planning to prepare a prorural budget for the year 2018-19, as it fear that the opposition parties would use the disturbances in the rural regions raised due to the lack of proper economic policies and proper funds in their favour in the crucial regional elections which are going to take place in the agrarian states in the year 2018 and in the general election which is expected to occur in our country in which more than majority of the people still depend on the farming sector and live in the rural regions. As per the latest report, the prime focus of the next yearâ€™s budget will be farming sector, rural infrastructure, and rural job creation.
Maruti Suzuki to launch its first electric vehicle by the year 2020
s most of the countries are encouraging those automobile manufacturing companies operating in their territories to come forward with those products which adhere to the zero pollution policy they envision, more and more automobile companies are entering the electric vehicle segment. The Maruti Suzuki is the latest among those who have publically announced its plan to enter the competitive segment. The automobile manufacturing giant has asserted that the country would launch its first electric vehicle by the year 2020. It is learned that the company has already appointed an expert team to analyze the potential of such a vehicle in the Indian market. It is said that the team would present its report by early 2018.
Google supports Indian AI start-ups
"If you can dream it, you can do it." Walt Disney
ndirectly acknowledging the fact that artificial intelligence is one of the most powerful weapons available in the hands of technology, Google is supporting those Indian companies operating in the artificial intelligence sector. SigTuple, the company which is trying to develop an intelligent screening solution to help medical diagnosis, is one such start-up which has received the support of the global technology giant. Apart from this Bangalore based company, at least six other start-ups have been offered the support of the global experts. The growing number of AI startups in the country is likely to bring huge fortune to our country.
India has implemented a dual GST model, where the Centre and the States together levy tax on a common tax base. The tax levied by centre on intra-state supply of goods and services is called Central GST (CGST) and that to be levied by state is termed the State GST (SGST).
Shri V.P.Nandakumar MD & CEO Manappuram Finance Ltd.
t the stroke of midnight on June 30 2017, India launched one of the most far reaching reforms in its tax structure since independence. The introduction of Good and Service Tax (GST) is meant to enforce the principle of ‘one tax one nation’, by subsuming the multiplicity of indirect taxes levied at different levels. The hope is that the new tax structure will curtail red-tape, plug leakages and pave the way for a fully transparent indirect tax regime.
The GST is a step forward from the earlier Value Added Tax (VAT). It may be recalled that VAT was levied on any increase in value of an article at each stage of it production or distribution. VAT was not applicable on services while GST is applicable on both goods and services. The government has categorised most goods and services into four tax slabs with rates of 5, 12, 18 and 28 percentage while some essential goods are made exempt from tax. Businesses are now required to collect taxes based on the above rates for an array of goods and services under a code called the harmonized system
India’s GST Reform of nomenclature (HSN). India has implemented a dual GST model, where the Centre and the States together levy tax on a common tax base. The tax levied by centre on intra-state supply of goods and services is called Central GST (CGST) and that to be levied by state is termed the State GST (SGST). The tax levied on interstate supply of goods and services is administered by the centre and called Integrated GST (IGST). With GST, the entire accounting system is online.
Implementing GST was a mammoth task and the success of reform would be based on how quickly it is able to resolve the major problems it threw up, viz., complicated tax structure that can create distortions, onerous compliance procedures that have created working capital stress in many smaller companies, and technical glitches in the GST network (GSTN). The complexity from multiple tax rates increases confusion in classifying products into various categories especially when the subcategories of products fall into different tax slabs under the harmonized system
of nomenclature. This makes filing tax return complicated. GST may also have hit the informal sector hard by transforming accounting and tax filing standards. Micro, small and medium enterprises (MSMEs) were at the forefront in expressing dissatisfaction with GST. Many of these enterprises operated in the informal economy and anecdotal evidence suggests that many got away by paying a fraction of the taxes they were actually liable to pay. The new tax regime has not only compelled them to fall into the tax ambit but also increased their tax compliance cost. Earlier, filing taxes was done manually without requiring much of professional assistance. With the implementation of GST, a lack of awareness and the challenge of adapting to a fully computerised tax system has been stressful. Hiring professional accountants and buying new accounting software equipped to handle GST has increased operating costs for many small businesses. For example, it is mandatory under GST for a business unit operating in only one state to file a minimum of 37 returns (it was
13 pre-GST), i.e., at the rate of three per month plus one annual return. If the business operates in more than one state the number of fillings will increase accordingly, e.g. when operating in three states the number goes up to up to 111 returns a year. Further, larger companies are unlikely to entertain non tax-compliant MSMEs as the former would not be able to claim input tax credit. In this context, the proposed reverse charge mechanism that makes a purchaser liable to pay taxes on procurement from unregistered suppliers, and the invoice matching principle wherein input tax credit can be claimed only when the purchase invoice matches with the sales invoice uploaded by the supplier (evidencing GST paid by the supplier) would make things more difficult for small businesses. The objective of GST is â€œtransaction-level reporting to assess value chains for better compliance, widen tax base and effective credit
matching for focused non-intrusive limited audits.â€? This objective can be achieved if business units especially MSMEs understand the tax filling procedure. Noncompliance with the filling procedure will only hurt their cash flows.
The government is committed for smooth transition of tax structure and has been taking necessary remedial measures. To simplify the GST process, the government is slowly rationalising the multiple tax structures. Recently the GST council undertook a major rationalisation exercise by cutting tax rate of 177 items from 28 percent to 18 percent, leaving only 50 items (the so-called demerit goods) in the highest tax slab. The government has also hinted that depending on revenue buoyancy there may be scope for further rationalisation of rates. Responding to the compliance burden of businesses (especially
the small and medium enterprises and exporters) the GST Council has allowed continuation of some of the pre-GST era incentive schemes. The stringent supplier and buyers invoice matching practise has been suspended for now. The council also suspended the reverse charge mechanism that makes big businesses responsible for tax filings for items sourced from smaller units till the end of the current fiscal year. Besides, the Council has taken series of steps including reducing late payment fees and simplification of forms to encourage voluntary compliance. For business with aggregate turnover of up to Rs1.5 crore, returns are now required to be filed only on quarterly basis thus easing the burden of compliance.
The GST Council will introduce the e-way billing system from February 1, 2018 to make electronic permits compulsory for inter-state
movement of goods. This will replace the transit pass system followed by individual states. As for intra-state movement of goods, states have time till June 1, 2018 to implement the national e-way bill system. The council is also considering inclusion of real estate and petroleum products in the GST framework. Also, to ensure that the recent reductions in GST rates are passed on to the final consumer, the government has formed a national anti-profiteering authority (NAA).
Implementation of a comprehensive reform like GST was always going to be a challenge. Indeed, when the Indian government was getting ready to roll out GST, we saw many stories in the media about the unhappy fate befalling governments in other
countries that implemented GST. It was pointed out that because of its initial inflationary tendencies, governments implementing GST across the world had either lost the next elections or performed poorly. In Canada, the Prime Minister Kim Campbell of the Progressive Conservative Party lost the 1993 national elections after implementing the GST which proved deeply unpopular with the electorate. In Australia, the John Howard government was somewhat more fortunate, narrowly returning to power in the 1998 election soon after implementing the GST. In most countries, implementation of GST has led to higher inflation. Even Singapore saw a spike in inflation in 1994 after the introduction of GST. In India, while the teething troubles appear to have been taken
care of by the government, there are many issues and concerns that remain to be resolved. Our current GST framework is still a work in progress. However, it is true of all structural reforms that one must undergo pain in the initial stages in order to reap benefits in the long run. The global experience shows that advantages from GST have invariably offset the disadvantages within a short period of time. India will, eventually, be no different ď€˝
(V.P. Nandakumar is MD & CEO of Manappuram Finance Ltd. and a Board Appointee to the Lions Clubs International Board of Directors.)
Rajesh Nair, Director, Ernst & Young LLP Rajesh is also the President of the Kerala Chapter of TiE Global
t is the season of change. From normal daily habits to the workplace, we are facing new ways of working and living in every aspect of life. When we pause and look at the welter of change around us, the scenario which stares back to us is that of massive flux. It does not require us to dig deep to the roots of change to see that technology is the primary disruptor of our times. The quotient of change also requires us to be far more creative and proactive than the yesteryears. It is not just enough to be great problem solvers. Today, we need to be pre-empting and finding potential problems. While the thinking capacity to master new technologies will be the key, these critical skills need to also
When you look at today’s business, you have to look at both the headlines and the trendlines. The headlines are being created by companies, like Facebook, UBER, AirBnB, Twitter, and Alibaba, which defy the normal principles of business modelling and our traditional outlook to assets.
be buttressed with aggressive pace and nimbleness. When you look at today’s business, you have to look at both the headlines and the trendlines. The headlines are being created by companies, like Facebook, UBER, AirBnB, Twitter, and Alibaba, which defy the normal principles of business modelling and our traditional outlook to assets. These companies have not just edged millions of companies out of business, but have fundamentally changed human habits. A middle aged professional of today is, at a very interesting cross road in her career, where she sees some of the value of her ‘decades old experience’ of yesterday eroded, because the
Time to prepare for life long education...
The student who enters the portal of employment and entrepreneurship has some baffling puzzles to solve. The traditional career ambitions are sure to be disrupted.
future course of business requires a new ‘quiver of arrows’. Today, it is not just about creating value, but capturing value. The stark reality, in front of her, needs to be understood very differently. Business memory or history today has little to offer, to decipher this crystal ball of change. Much like a start-up, every business will have to question received ideas and rethink business from scratch. We are also living in times, when we believe that just the appending ‘.com’ can quadruple our value overnight! Such enormous changes in technology demand immense synergies with education and the future employment scenario. The student who enters the portal of employment and entrepreneurship has some baffling puzzles to solve. The traditional career ambitions are sure to be disrupted. Some of the attractive jobs of today will
cal sums to acquire these badges of success. The structure needs to be watered and fed with keeping a cognitive eye on the changes happening around us. It requires us to nurture the inquisitiveness of a keen student throughout lives, much after we have left the portals of educational institutions.
change in nature and character. Looking from the point of view of early professional education, the significant divide in the earlier decades, between the earning capacity of a good student and a below average student was more stark. More college qualification in India, normally, was some sign of future success. Of course, exceptions were always there. Today, this divide is fading. The key competency a professional needs to nurture today is the ability to unlearn and to learn new things. Perhaps, higher education prepares you for this travail, but it is by no means a clear indicator.
In a lot of high literacy environments, much like Kerala, In India, the average youth, has had her fair share of education. What is concerning is also that, a lot of them develop a fatigue towards learning as they learn more. For them, a job is sort of a finishing line of an obstacle course and the fruit of years of hard work. Well, that is not to be. Today, your first job is exactly only that – YOUR FIRST job! Perhaps the first of dozens! One has to continuously keep the eyes on the technology radar and the business disruption around. Those who refuse to pick up new skills will be squeezed out of the workforce. As the HR gurus of the day ponder over the competencies required in the future and generate a fair amount of debate in terms of what is required and what need to be given priority, we also need to remember, whatever the competencies are, the mother of all competencies will be the ability to learn the new and unlearn the old. Thinking also has to be a lot more fundamental. The rear mirror is necessary but unfortunately the
direction of the mirror is wrong. We do not live in times which can help us see the hurdles beyond the point, by studying past endeavours. Perhaps another set of important words which should coexist in your thinking is speed and flexibility to adapt! So, are the pessimistic soothsayers on technology correct? Will the machines take over? Not really. From time immemorial, technology has ushered disruption and chaos to order; whether it was the printing press of the past, the computers and now automation. It is also of interest to note, automation tends to bring efficiency to tasks within a vocation and does not obliterate it altogether. But, even the most optimistic of the futurologists will aver that in most occupations, it is of paramount importance to figure out new skills, when the established routines become obsolete. Employers cannot always give you a futuristic guidance. In most cases, it is difficult to articulate what is the expertise needed in even a smaller time horizon of two to three years. But, the writing on the wall is clear! The time for lifelong education has come. For the middle aged, it is time to revert back to the school time routine of reading and thinking and not just trust their business intuition to make decisions. We are moving into a ‘learn and earn’ future!
Great students ascend with aplomb until they reach a level of competition strong enough to leave their dreams squandering. The average college education of today still believes in creating conformists and we land up paying astronomi-
conquering! One such very inspirational life is of Mr. Vinayan T.P., the Chairman of Kent Constructions Pvt. Ltd, a successful Indian Builder, Designer and Businessman. The company has survived the ups and downs of the volatile real estate channels and grown to tremendous heights under his strong determined leadership.
aving a longing desire to achieve something is the first step. Taking actions is the next. Each personâ€™s path to success may be unique - how they overcame the hurdles, the passion that they have for what they do, the sheer grit and determination and so on. They are trailblazers for lakhs who get inspired by their focus and persistence. One such very inspirational life is of Mr. Vinayan T.P., the Chairman of Kent Constructions Pvt. Ltd, a successful Indian Builder, Designer and Businessman. The company has survived the ups and downs of the volatile real estate channels and grown to tremendous heights under his strong determined leadership.
Seeding of the Giant.
Hailing from the small town of Alwaye, one of 5 children in his family, he hails from a family who were into business already. His role models were his father and mother and they always encouraged him to risk in business. Thus it came very natural to him those inevitable business traits and the keen interest do business in life. However, those times, almost every aspiring men in life chose to go to Gulf. He also didnâ€™t resist following the herd, journeyed to Damam, Saudi Arabia via Mumbai; The Company he was hired into was called Laila Kent, where Kent was the European company in collaboration with. And no brownie-points on where his
current company name Kent is inspired from. Mr. Vinayan T.P gratefully reminisces the past where he mentions that was his first stepping stone to success. He had the opportunity to mingle and work along with people from different nationalities and derive more knowledge by getting trained by the company. However, from the time he remembers himself, he had been helping his father in his trade and never could take that dream of doing business in his own country. He decided to work hard at Saudi and earn enough money to start a new company here in Kerala. He was offered thrice the salary when he put his papers there. When he thought he had accumulated enough investment, he returned to Kerala and started real-estate business down here. Rest is history. The real-estate rollercoaster went up and down, and at times, in the verge of collapsing. His strong will and passion for his company held him above the testing waters and saved him from sinking. Today, he is a skilled sailor who knows to sail through the whirlpool and tides and know exactly where he is going and how to reach the shore safe.
The Passion and Journey of Kent.
The passion Vinayan shows for this industry, real estate and construction is unmatched. He says that this is an arena where you can make quick money.
years, focusing on the faultless quality they provide to their clients, and the after sales service what makes Kent distinct from the rest.
Any other investments might take you years to appreciate and give you returns. However, land value has always steadily accelerated. Everyone has a purpose in their life and a calling to a particular industry, and Vinayan had realized that he should grow this passion he has for this industry and make a fortune out of it. He says, Luck is always related to identifying that trade you are born to do. Wait for the opportunity and grab it before it disappears. He bought a land at Thammanam and started construction of a villa complex naming it Kent Paradise in 1994. His venture was initially known as Kent Homes and Properties. His interest in this trade ensured the realization of beautiful and quality conscious villas to be made. Inbetween, recession happened and the business opportunities went down. Even through the hurdles, Kent bounced back with might. The very first traditional villa project that Kent did was sold fully off successfully. And then happened one project after another, from high-rises to townships. The market saw a splurge of weak builders creeping in and losing trust among clients, which inturn affected all other builders as well. Kent stood strong all these
Kent always follows ethics in their work realm. Mr. Vinayan T.P. believes that you should never be running behind money, but you should put in your best in working your way towards excellence. The results might take time, however, when it comes it stays forever. All the partners on Kent work in synchrony with the workers, so that they model the right behavior to them. They make sure they under promise and over deliver. Landscaping is one eminently impressive element noted in all their properties. They use the tactic of not revealing all amenities, but surprise the client by giving them more than that they were initially delighted with while booking. Kent has never advertised prominently, their real marketing is word of mouth. The clients themselves keep buying more and advocate the facility to their known ones.
About hisRole model and Unwavering support system.
The reason and the pillar of support behind his success is his partner Mr. K.C. Raju, who had been with him through thick and thin for an entire decade now. His role model, whom he looked upto was his uncle, Mr. V.S. Radhakrishnan, from whom he learned cues of entrepreneurship. His mentor, Mr. C.C. Thampi,
the Chairman of Holiday Group hailed from Dubai, is the tower of strength for 15 long years now. His presence and guidance has transformed and taught positive incomparable lessons that helped Vinayan to grow to this scale. Mr. C.C. Thampi has influenced him immensely in considering everyone the same in all strata in society, to contribute humanely to others, to forecast issues in business and life, to assess people by their demeanor, to manage different individuals with ease, to be passionately working without losing energy for 10-15 hours a day, and to impart the knowledge you have with other without any hesitation. He helped him cross the hurdles in life with ease, and he is always the first person to be prayed for. Vinayan gratefully thank these very eminent people in life who helped him reach where he is today.
Some unique accomplishments.
Vinayan makes sure he puts his heart into each design of Kent. He travels around the world and learns from different structures and designs. His Ideas are adapted skillfully to the ecosystem of the state. A very superior example is the breathtaking design of Kent Palm Villas. Scores of palms were imported for making it more authentically spectacular. Itâ€™s one of a kind in South India. Very few in the city knows that the renewal of Subash Bose Park was designed by Vinayan. The elevation of town hall also was redesigned and he
His mentor and guiding beacon, Mr. C.C. Thampi, the visionary leader and Chairman of Holiday Group
thus we also should be progressing, taking learning from the previous entrepreneurial years.
The current challenges.
Sharing the accolades with his partner, Mr. K.C. Raju
was awarded by the chief minister of Kerala. These services are done without taking any compensation, as a contribution to the society. Vinayan is known to be extremely involved and passionate and spending all his time for the company he is accountable to. He reminisces that he never expected himself to be this humongously successful, and would be able to employ these many employees and help lives thus. He endorses permanent transformation through continuous change, through altering the habits punctiliously. He believes in being a model, his friends are his employees, and do not indulge in any other leisure activities much other than business undertakings. His ways of addressing a problem is very unique and inspiring. Infact, he loves to confront a problem, and makes sure he build a firewall around it, block it so that there is a prospective functional process that sustains Kent. You cannot completely rely on people, but the System. Hence the process is primarily focused here. The one who chases and one who is chased is exhausted almost equally, he says. Managers and sub-ordinates should be co-operating amicable to get the targets achieved.
Advice to the upcoming
Mr. Vinayan T.P. painfully recognizes that today malayalees are not that skilled like olden days. Most of them do not feel accountable nor is healthy to do the work he is supposed to finish. Hence, the hires are trained extensively for better performance. Kent’s Quality Check Team and employees are result-oriented and quality conscious. Every department has their own distinct pledges to start the day with. There is a flawless system devised which ensures the productivity of the team members. The system makes sure that the task assigned to each one is completed in the stipulated turn-around-time. He feels proud of his remarkable staff. Inhouse softwares are customized taking inspiration from success stories from around the world. He advices the budding entrepreneurs to give it try first in an unprofessional/ start-up company also, before you start one of your own, so that you get to learn what happens in every department. You may learn how to organize after getting a hang of the unorganized environment. Everyone should strengthen themselves up by going through failures. You should then stabilize in one or two major trade post forty, and bring down risk-taking. Rolling stone gathers no moss,
Time that’s bygone and opportunity which was ignored never returns. So it’s very imperative to utilize both well. The commitment that the new generation has deteriorated drastically and this has affected the growth of organizations. Excuses and passing the buck has become common nowadays. Families should be taking more care of the children’s health and get them more pro-active and agile. He also advices the parents to keep a track on skilling up their children to learn more on daily routine and self-handling accomplishments. He also suggests the generation should pick up seasonal food and fruits, so that one can keep themselves healthy, and can maintain to work capably. Kent does an extensive campaign in spreading awareness on how to get children healthy and resourceful.
Social commitment and Philanthropy.
Even while creating successful business ventures and enjoys the fruitful benefits out of it. Mr. Vinayan never forgets his societal role, as he always gives equal importance to his social contributions and responsibilities for all good deeds he does in its best possible manner. He operates a charitable trust through which several needy hands are filled with financial aids especially for medical treatment, meeting daily livelihood etc. More surprisingly, in addition to the above social service, Mr. Vinayan proves to be a completely Health oriented person as he is interested in health research topics and renders ample time for developing highly beneficial heath techniques/ tips/systems and conducts several health awareness programs as well, for the last three years across Kerala.
Excellence that results in Awards.
His Awards and recognistions
Smt.Nirmala Sitharaman and Hon Union Minister for Science & Technology, Ministry of Environment, Forest and Climate Change-Shri. Harsh Vardhan, in New Delhi, Gururatna Award, Shivagiri Math receiving from Hon Union Minister of Minority AffairsShri Mukhtar Abbas Naqvi along with leading entrepreneurs and philanthropists like M.A.Yusafali,B.R.Shetty,Sud haMoorthy,Dr.P.N.C.Menon,Sunil kumar,Anilkumar,Dr.Sundarmenon and Cheruvakal Raman. Ruminating Ideas with Shri. Arun Jaitley, Hon. Finance Minister and Minister of Corporate Affairs.
are just an extension to the excellence his work reflects and the passion he has for his trade. Some of them include: Business Excellence Award 2011 – JCI Harven fest – 2011, Business Excellence Award 2012 – Kerala State – Adjudged as the No.1 Builder in Kerala, Certificate of recognition from
Sri. OommenChandy, Honourable Ex-Chief Minister of Kerala - for renovation design work of Kochi Municipal Corporation Town hall, Kerala, Award for best business performer from Kaalimalarkavu temple, Kerala, Global Business Excellence Award 2017 – Received from Hon. Union Defence Minister
T P Vinayan married Shina Vinayan, who is a homemaker.T P Vinayan has two children, Vishnu Vinay and Veena Vinay. Vishnu, completed his higher studies abroad and now assists his father in expanding his business, while Veena is currently pursuing her Bachelors in Commerce in a reputed college in Cochin
Receiving Global Business Excellence Award 2017 from Hon. Union Defence Minister Smt. Nirmala Sitharaman and Hon. Union Minister for Science & Technology, Ministry of Environment, Forest and Climate Change - Dr. Harsh Vardhan, in New Delhi.
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hen the Negotiable Instrument Act 138 came into force, it was a right step for making it safer for the giver of the funds against the cheque and was a well appreciated by all. More often than not a situation arises when stiffening of the law makes it more complex rather than becoming easier to resolve. Just see what is happening in the courts across India in the matters of the NIA 138 that deals with the alarm-
More often than not a situation arises when stiffening of the law makes it more complex rather than becoming easier to resolve.
ing number of cases of cheque bouncing where an instrument called cheque becomes a lethal weapon for those who are ignorant about law but never the culprits of issuing an instrument with a legally enforceable liability. It's easier for any manipulator to misuse the law or act to its malafide intentions to perfection even when there is no legally enforceable liability being established by the complainant. The accused starts fighting a losing battle if they have failed to reply to a
legal notice. In a civil society, it has come to the knowledge that people have to use a blank cheque to receive a friendly loan from the circle of friends who actually may or may not have extended any loan at all. Generally, it is observed that in the majority of case, the so-called friendly loan seekers or to say the accusers in cheque bouncing cases give the blank cheques in good faith as a collateral security just because the borrowers don't make the rules and also for the fact that
Time to revisit the Law under NIA - 138
at the time of receiving money (in case it's a genuine transaction) the accusers think that a help is coming their way and they shouldn't ask for a receipt of the cheque against money and it all happens in good faith. There is also a reason for not issuing any receipt of the cash money if that is in excess of Rs 20,000 because it's not legally correct to transact in bigger than in cash. So, the point here for the consideration is that in the event of giving money in good faith or in a matter of friendly loan and in the absence of any payment receipt exchanged except an instrument known as a cheque, the honourable courts should render such cases as a civil dispute instead of a criminal case. In fact, a case should not be registered if the complainant is
unable to produce any proof along with the sworn affidavit filed for the case. They simply produce the instrument and cheque bouncing bank advise received from their bank and thus start all the trouble for both -the Honourable court and the accused to go through a long battle to prove the innocence as the law or act is heavily loaded towards the complainant in such matters. There is nothing wrong in the act per say as it has been made with all the right intents of making a full respect for a cheque or instrument and making financial transactions full transparent so that no culprit is able to go scotfree after issuing the same against any legally enforceable liability. This makes a genuine case to be
debated in the parliament and for coming out with a very clear and even more stringent action to be taken against any such culprits who don't have a respect towards law or judiciary. The best foot forward to reduce the burden on the courts is to make it mandatory for the accused to pay a minimum 50% of the cheque amount at the time of granting bail and this will bring a fear in the minds of the people with malicious intentions who take cheque issuance as very simple to handle once the case is registered; off course its applicable only in the cases where legally enforceable liabilities are ascertained and the matter gets qualified for registration in the courtsď€˝
his should not have happened. But in Mumbai the fire blazed in two restaurants and pub. Their names are ‘One above’ and ‘Mojo’. These were located in Kamala Mill area. Sad event in December 2017. It is shocking. There is no method to deal with such tragedy. People are compelled to move on. Fourteen guests died in the pubs. They died of suffocation. Was this accident an avoidable one? These were terrace and roof-top restaurants. But then, they were covered with bamboo roof. They had a roof which was inflammable. These pubs do serve alcoholic drinks. These spirits also have combustible properties. When so much is known to us, then aren’t the precautions warranted? The staircases in the building that lead in to these restaurants were narrow. They did not have adequate width. There weren’t many other emergency exit options. By knowing so much already, the safety can’t be compromised. Then there are three sources of flames. The open
Such public squares in every city will allow its citizens, both young and old to come and socialise in their free time. City planners of cities of India seem to have omitted necessities of public causes, places and space.
embers of burning hukka. The fire display of the bartender. And then, may be an electrical short-circuit. Sad times for the families, who lost their members. We must once again reiterate that this catastrophe should have been avoided. But then, look at our culture. Who allows such revelry? Who should be cautious? We can expect that the owners will have ensured to take precautions. But the assurances need to be repeatedly verified.These young people need open spaces to meet and to greet. Citizens of the city must have large open areas, near about fifty acres in one spot. This public space must be clean, neat and safe. Such open squares of fifty acres in each city must be made secure, so that people can converge here for recreations. This can be a point for mimes, jugglers, magicians and other street entertainers. All such entertainers, in each squares must be licensed and regulated. There can be numerous park benches, were people can rest and relax in
fifty acres. Such squares must have tiled floors and neatly railed-in, with a good compound wall. Many food vendors, juice vendors and other kiosks can operate. Such public squares in every city will allow its citizens, both young and old to come and socialise in their free time. City planners of cities of India seem to have omitted necessities of public causes, places and space. If people drink large quantity of alcohol, then it is obvious that their minds will be of a compromised nature. Such minds may not fully be able to attend to the needs of hygiene and health in food consumption. During many boisterous festivities where fireworks are involved, intoxicants and inebriated minds must not be permitted. Many complex and volatile situations can be surpassed, if the festivities are sanitized from its own boisterousness. The space and place for rest, relaxation and recuperation are very essential. Such open places are a necessity in any civilisation
and culture. They may even simply be called as ‘city squares’, where people can simply hangout, when the weather is fine. Many cities in the world have such public spaces. The population increase in cities is inevitable. By nature people simply like to come together. People are attracted to, and migrate to where more number of people coexist and cohabitate. This must be a reason why urban spaces and cities bring more number of people into it. Therefore, becoming a big burden on empty spaces. The other sector that I have heard, which uses this nomenclature called space and
rest, is the spiritual industry. They talk about the availability of a kind of space where people deliberately look into their minds. Many places where they train in meditation, use this erminology of ‘space and place’. This is within one’s own mind. These spiritualists claim that some breathing techniques opens up the areas in the mind which otherwise remains closed. Like the creation of external space in city, people can construct a space within for deep rest and rejuvenation. Or else, there will be severe shortage and clamour for space both internally and externally. A big
clutter and clogged places. In our cities we have difficult problems. Traffic is certainly a dilemma. Average speed of traffic in Bangalore city is rated at 35 kmph. May be at 40 kmph in Mumbai. Similar is the case in Kolkata. And Delhi may have slightly faster average speed. What about two tier cities such as Indore, Cochin and Coimbatore? And yet, more number of people not only arrive in such cities, but also choose to purchase their private four wheelers. The culture and the civilisation that exists in India today is an
intricate puzzle. Big studies, and research is needed to make the possibility of solutions. Do not give it a miss. But learn, from the flood in Chennai, fatal traffic accidents, building collapsing while under construction, and even fire in restaurants. If we do not learn, then we may be confined to a socially and culturally entrapping position. Our civic intelligence must be invoked and result in healthy debate and constructive discussions. The citizens have chosen the candidates. These candidates are elected. They represent all the people of the city. Then there are municipal commissioners. Mayor, collector and other officers. The bureaucracy is then equipped with additional commissioners. These additional commissioners on the top, give instructions to junior officers. The administrative lobby get its directive from leaders who were elected by the public. The bureaucrats of Indian Administrative Services give away licenses to business people. After having procured relevant licenses, they can begin business transactions with the customers. The customers have actually and genuinely done their payment of taxes. In this big chain, where is the lack of probity and transparency? Where can we peg the accountability, when there is negligence and apathy to work? Contamination of thought, corruption in mind is a dangerous quagmire. When the workers, officers and leaders choose to abdicate their duties, then the entire community will sink into the trap of a conundrum. May be spiritual leaders must raise their hands and take social responsi-
bilities. We can pray for the victims of calamities. Can we take solace that the year 2017 has bid goodbye? More social awareness, ethical businesses, morally correct sense of civic responsibilities must be nurtured. Eagerly and happily we can welcome this New Year. For public gatherings the city planners, municipalities and other civic bodies must apportion large geographic areas. The citizens and public must compel the authorities to allocate tiled and tidy squares in every district so that we can meetup to chat up in our freetime. This could be a new agenda in the manifesto during the elections. May this fresh and lucky year of 2018 bring such provisions. Families and citizens must get care and comforts of places for friends to congregate and express. Do activism to tell the officials that citizens need large areas for socialising and recreation. This must be in all cities in India. Because the young people will always want places to go to. The elderly wishes to walk to a destination on the outskirts of the city. An activity place where young may even do a Flash Dance or even a recital of Yogic postures. Best wishes to all for 2018. May you achieve to develop more space. More space, both externally and internally. May city and corporations accomplish this task of abundant recreation place. The people can get literacy to be able to ensure safety during all places of party and festivity. Our living is a journey and is also a destination. In 2018, we must discover the method and the way to correct living ď€˝
Adv Sherry Samuel Oommen is a practising lawyer at High Court of Kerala who specialises in tax and Corporate Laws. Presently he heads the tax and corporate law practice of Nash Capital Partners. Apart from being a qualified lawyer, he is also a chartered accountant, cost accountant and a company secretary. He is currently pursuing his Doctorate Degree and is reachable at email@example.com.
he Companies (Amendment) Bill, 2017 (hereinafter referred to as “the bill”) was introduced in the Lok Sabha on 16.03.2016 and was referred to the Standing Committee on Finance on 12.04.2016. The Standing Committee thereafter adopted its report on 30.11.2016. The Companies (Amendment) Bill, 2017 was passed by the Lok Sabha on 27.07.2017 and by the Rajya Sabha on 19.12.2017, and is currently awaiting the President’s assent. The proposed amendments of the Companies Act, 2013 (act) as per the bill help in streamlining several of the processes under the act. It also clarifies on several aspects that have, until now, remained ambiguous. Furthermore, several procedures, such as conversion of partnership firms into a private company, have been simplified. This article shall give an over-
This article shall give an overview of the Companies (Amendment) Bill, 2017 as passed by the parliament. The proposed amendments shall be shown section wise for easier reference.
count of the immediately preceding financial year. This has effectively brought several companies under definition of Small Company. Considering the fact that investments and business is on the rise, this was a much-needed change.
2. Incorporation of company
view of the Companies (Amendment) Bill, 2017 as passed by the parliament. The proposed amendments shall be shown section wise for easier reference. This article shall provide for only a few important amendments that are proposed and shall not go into every proposed amendment.
(i) The definitions of debentures have been limited in its scope to exclude such instruments as are mentioned in Chapter IIID of the Reserve Bank of India Act, 1934. Furthermore, any other instrument as notified by the central government in consultation with the RBI shall also not be treated as debenture. (ii) Small Company as defined under section 2(85) has been amended to mean a company having a paid up share capital not exceeding 10 Crores and whose turnover does not exceed 100 Crores in the profit and loss ac-
(i) Prior to the bill, any document, contract or proceeding requiring authentication by a company, under section (“u/s”) 21, could be signed only by a key managerial person or an officer of the company duly authorized by the board. However, the bill proposes to allow an employee duly authorized by the board to also sign such document, contract or proceeding.
3. Prospectus and allotment of securities
(i) The bill proposes to completely substitute section 42 of the act. However, the major changes proposed by the bill are that the return of allotment shall be filed with the registrar within 15 days from the date of allotment. A penalty has also been imposed in the event there is a default in filing within the above prescribed period. The company is also barred from utilizing the money raised unless the return of allotment is filed with the registrar, which would help in better governance. The bill also restricts the private placement offer and application from carrying any right of renunciation.
4. Share capital and debentures
(i) The voting rights of every
OVERVIEW OF THE COMPANIES (AMENDMENT) BILL, 2017
member holding equity share, as contained u/s 47 of the act, has been made subject to the section188 of the act, i.e. restrictions of a related party from voting on a resolution. (ii) Presently, Sweat Equity shares could be issued only after one year from the date on which the company has commenced its business. However, as per the bill, the section54 (1)(c) has been omitted which allows the company to issue sweat equity at any time after it has commenced its business. This would help startups capitalize their initial investments much faster. (iii) As per the section 62 (1) (c) of the act, the requirement that any further issue of share capital is to be made in compliance with the
section 42 of the act was contained only in the rules. However, as per the proposed amendment, any further issue of share capital has to be made in compliance with the provisions of the Chapter III of the Act, which contains the section42.
form for One Person Companies, small companies and other classes of companies as may be prescribed, to file their respective annual returns. The requirement of disclosing the company’s indebtedness has also been done away in the bill.
5. Management and administration
(ii) As per the section 93, the requirement that in case the stake of the promoters or that of the top ten shareholders changes the same should be filed in the prescribed form with the registrar, has been completely done away with.
(i) The bill proposes to do away with the requirement of filing MGT-9, i.e. the requirement that an extract of the annual return in the prescribed form shall form a part of the Board’s report under the section 92. As per the proposed amendment, a copy of the annual return shall be placed on the company’s website and the link for the same shall be stated in the board’s report. Further, the central government may prescribe an abridged
(iii) As per the proposed amendment to the section 96, the annual general meeting of an unlisted company may be held anywhere in India if consent by all the members is given in advance.
In the amendment to the section 134, it is proposed that only the web-link (as per the amended section 92) need to be submitted rather than an extract of the annual return. (iv) As per the amendment to the section 100, an extraordinary general meeting of a wholly owned subsidiary of a company incorporated outside India may be held out of India whereas, a company other than that mentioned herein shall have its extraordinary general meeting within India.
6. Declaration and payment of dividend
(i) As per the bill it is proposed that, in calculating the profit in relation to the payment of dividend, amounts representing unrealized gains, notional gains or revaluation of assets and any changes in carrying amount of an asset or of a liability on measurement of the asset or the liability at the fair value shall be excluded. This shall effectively reduce the burden on the company. In the event of inadequate or absence of profits, the company may declare dividend from the accumulated profit earned by the company in the previous years which has been transferred to the free reserves. In the event that the company has incurred a loss in the financial year up to the end of the quarter immediately preceding the date of declaration of the dividend, the interim dividend shall not exceed a rate higher than the average rate of dividend declared by the company in the immediately preceding three financial years.
7. ACCOUNTS OF THE COMPANY
(i) As per the bill, an insertion has been made to the section 130 wherein sub-section (3) has been added. This brings the section 130 in conformity with the section 128. The sub-section (5) of the section
128 states that the company shall only be required to maintain books of accounts pertaining to the previous eight financial years, unless on a direction from the central government if any investigation has been ordered against the company. Earlier, the section 130 did not limit the power of the courts or the tribunal. However, as per the amendment, the concerned court or tribunal may only order the reopening of the books of accounts of the company for the previous eight financial years unless the books of accounts for a further period has been ordered to be re-opened by the central government. (ii) In the amendment to the section 134, it is proposed that only the web-link (as per the amended section 92) need to be submitted rather than an extract of the annual return. Further, the details of the disclosures provided in the financial statement need not be repeated in the boardâ€™s report, a mere reference to the same would be sufficient. Additionally, the responsibility of the board to provide for a self-evaluation of its own performance has been done away with and it will be henceforth sufficient to state that an annual evaluation of the board has been made. (iii) The section 135 of the act provides for Corporate Social Responsibility. The section 135 as it now states that any company having a net worth of INR 500 Crore or a turnover of INR 1000 Crore or a net profit of INR 5 Crore in any financial year shall constitute a Corporate Social Responsibility Committee. This has been proposed to be changed to any
company having a net worth of INR 500 Crore or a turnover of INR 1000 Crore or a net profit of INR 5 Crore in the immediately preceding financial year. The effect of the section 135 has been cut down by the bill and will not continue to be a burden, regardless of its intention, on relatively smaller entities. Currently, the eligibility was determined on the basis of the preceding three financial years. (iv) The bill proposes that in the event a copy of the financial statements of the company, prior to 21 days before the meeting as prescribed u/s 136, cannot be given, it shall be deemed to have been duly sent if a majority number entitled to vote, who represent not less than 95% of the paid up share capital or in the case the company does not have a share capital, 95% of the total voting power exercisable agree to the same. Furthermore, the amendment allows foreign subsidiaries which are a subsidiary of a listed Indian company, which is statutorily required to prepare consolidated financial statement under any law, to comply with the provisions of this section by placing the consolidated financial statement on the website of the Indian company.
8. Audit and auditors
(i) The requirement u/s 139 of the act that the company shall place the matter relating to the appointment of auditors at every annual general meeting has been done away with when an auditor has been appointed for 5 years.
9. Appointment and qualification of directors (i) As per the act, a company is required to have at least one director who has stayed in India for a period not less than 182 days in the previous calendar year. This has received considerable flak due to the requirement of 182 days being in a calendar year. Furthermore, there was no concession given to newly incorporated companies. The bill proposes to amend the requirement to 182 days during
a director recommended by the Board of Directors of the company in case the company is not required to constitute a Nomination and Remuneration Committee. (iv) The bill also proposes to add an explanation to the section 165 of the act, which clarifies that for reckoning the limit of directorships, the directorship in a dormant company shall not be included. This in essence allows for a director who is a director in 20 companies to hold office in additional companies if a proportional number of companies, in which he is acting as a director, are dormant.
the financial year. The bill further proposes to grant a concession to newly incorporated companies, whereby the sub-section shall apply proportionally at the end of a financial year. The bill also proposes to restrict the meaning of an independent director as one who has or had no pecuniary relationship, other than remuneration or having any transactions, not exceeding 10% of his income or such other prescribed amounts, with the company its holding, subsidiary or associate company or their promoters or directors during the two immediately preceding financial years or during the current financial year. Furthermore, an independent director shall be one, none of whose relatives: (a) Is holding any security or interest in the company, its holding, subsidiary or associate company during the two immediately preceding financial years or during the current financial year (provided the relative may hold security or interest of a face value not exceeding INR 50 Lakh or 2% of the paid up share capital of the company, its holding subsidiary or associate company); (b) Is indebted to the company, its holding, subsidiary or associate
company in excess of such prescribed amount in the preceding two or current financial year; (c) Has given a guarantee or provided any security relating to the debt of any other person to the company, its holding, subsidiary or associate company in excess of the prescribed amount in the preceding two or current financial year; (d) Has any pecuniary transaction or relation with the company, its holding, subsidiary or associate company amounting to 2% or more of the gross turnover. (ii) The bill proposes to permit the central government to prescribe any identification number as Director Identification Number as per the proposed amendment to the section 153. In furtherance of this, the bill also proposes to amend the section 152 to the effect that a person may be appointed as a director if he has the Director Identification Number or such other number as may be prescribed by the central government. (iii) The bill proposes to do away with the requirement of depositing INR 1 Lakh by any person standing for directorship in case of appointment of an independent director or a director recommended by the Nomination and Remuneration Committee or
(v) As per the bill, a proviso is proposed to be added to the section 167 by the office of a director shall become vacant in case he incurs any disqualifications specified in the section 164, provided in cases where he incurs a disqualification u/s 164(2), the office of the director shall become vacant in all companies other than the company which is in default. The rationale behind this proviso is, as per the amendment proposed by the bill, a director shall continue to for a period of 6 months from the date of appointment. Hence, the amendment to the section 167 is to bring it in conformity with the section164 (2). Furthermore, a proviso has also been added to the section 167(1)(f) by which the office of the director shall not be vacated in case of any order referred to in clauses (e) to (f) of the section 167, if an appeal or petition is preferred within 30 days and for a period of 7 days from the date of disposing of the said appeal or petition until any further appeal or petition is preferred against the order or sentence, until such further appeal or petition is disposed of. (vi) The bill proposes to make the requirement of the director forwarding his resignation along with detailed reason for his resignation to the registrar within 30 days of resignation, optional ď€˝
In the last three decades Dubai has developed infrastructural marvels, iconic landmarks and shopping paradises enticing people from around the globe to visit Dubai; especially from India for work and leisure alike.
Mr. James Mathew
is the Group CEO of Crowe Horwath in UAE & Oman and also serves on the Global Board of Crowe Horwath International; the 8th largest accounting and audit firm in the world. Based in Dubai for the last 25 years, he is one of the most celebrated finance professional and leading entrepreneur in the Middle East region. Among several recognitions & professional affiliations, Mr. James is the Former Secretary General of Indian Business & Professional Council, Dubai and Past Chairman of ICAI, Dubai Chapter.
Stay, Sights & Shopping -Taxed! Value Added! So, does the perception of Dubai change after VAT?
ubai has long enjoyed the status of being tax-free and it has always been a hot spot of tourist attraction in the Middle East. Dubai implemented Value Added Tax or VAT at the behest of GCC countries aiming to diversify their economy and driving away from being oil driven. But it was never oil that ignited the aspirations of Dubai, it was the grit to stand apart from rest of the world.
In the last three decades Dubai has developed infrastructural marvels, iconic landmarks and shopping paradises enticing people from around the globe to visit Dubai; especially from India for work and leisure alike. One of the busiest international air routes last year was Mumbai-Dubai and Delhi-Dubai to-and-fro flying around 5 crore international travellers via Dubai with a majority of 1.8 crores flying between India and UAE alone.
Dubai has been the most popular destination for foreign visitors. The Master Card Destination Cities Index 2017 gives very interesting figures to substantiate the same. Dubai remains one among top destinations cities in the world along with Bangkok, London and Paris with the highest overnight international visitor spending globally of US $ 28.5 billion. The Index indicates further insights like 10.8% of
the visits were for business while 89.2% was leisure related. The breakdown of the expenditure by these international visitors were 29% in accommodation, 22% in F&B, 31% in Shopping and 18% in local services/transport. This pretty much explains why hospitality, travel and tourism sector contribute significantly to the overall GDP of Dubai. As Dubai prepares itself for the mega event Expo 2020, the hospitality and tourism industries are further prepped up for major expansions with exponential infrastructural developments. These include a new Metro Link, Al Maktoum International Airport being fully operational and a whole new District 2020 being constructed. In a nutshell, the aforementioned
figures are bound to see a major rise in the coming two years. The UAE Minister of Economy Sultan bin Saeed Al Mansouri said that UAE has rich cultural heritage, natural diversity and the developed infrastructure that make it a strong competitor on the world tourism map.
The UAE has introduced VAT at a minimal rate of 5% contrary to the other European nations where the rates are higher like 21% in Netherland, 19% in Germany and 20% in the UK respectively. There are many tax-exempted or zerorated items as well. None the less, VAT would impact the Hospitality and Tourism sector in acertain way. The services and supplies extended by the hospitality companies would
become taxable in the new year and the visitors will have to bear the cost until rebate schemes (if any) are announced. The services which would be taxable broadly includes tour packages, ticketing and agency fees, hotel accommodation, restaurants and entertainment charges. Nowadays, as most of these services are booked and paid online, time and place of supply would also have to be taken into consideration. Restaurants, cafes and hotels have multiple offering for the visitors like food and beverages, salons, spas, ballrooms and banquets where the implications of VAT would be different. In terms of tours, travels and airlines, there are many charges and fees levied which would be treated differently under
the new tax law. After all, been said and done, the burden of VAT on the end customer would be minimal or rather negligible. Many vendors may absorb the increased cost so that the customers don’t feel any burden on the pocket but only improved services.
Then, Now and Thereafter
‘You die, you pay taxes; you live, you pay even more taxes’ it has been a common sentiment in the western world for long. But the oil-rich nations of the Middle East for years has been facilitating the nationals with cradle-to-grave welfare facilities and tax-free avenues
to the expatriates. After decades of serving its residents with worldclass facilities, it’s only now that UAE has implemented a new tax regime; while there are ample examples of citizens burdened with taxes and still lack basic amenities. Being a resident of Dubai for the last twenty-five years and working in a very conducive environment, we are always thankful to the rulers who gave us the opportunity to work, earn, save and send it back to our homeland without any taxes. Though VAT is being imposed in general but education, healthcare and rental are exempted items to ensure that it doesn’t hamper the cost of living. That’s why Econo-
mists suggest that the overall cost of living in Dubai will increase by just 2 to 2.5%, not the full 5%. There are many people in the expatriate community who are happy to contribute to the nationbuilding process. Hence, the new tax regime is not going to change the perception of Dubai for the visitors rather it is going to authenticate and enhance the economic stature of Dubai in the world market. Apart from the hospitality and tourism sectors, VAT is going to validate and strengthen the other business sectors wherein the results will be evident in the coming years
Dolly Neena Dolly Neena is founder of Your Wing, a training company born out of a noble cause and spirit. She holds a decade long experience being a passionate mentor and entrepreneur.
“The purpose of life is a life of purpose” - Robert Byrne.
new year has begun. A new resolution is at hand. Yet again, we are prepared for new beginnings and new endings. It’s a time of reflection and transformation. It is inevitable to “begin with the end in mind”, when you deal with a new resolution. It is the ability to envision your dream –those that your eyes cannot see at the moment but your mind can dream of and believe in. It always starts with your imagination; the physical realization always kick-starts after the mental onset of your vivid imagination. Let’s start dreaming now. Stephen Covery says: “The inarguable fact is there are always two creations to everything you see or experience. The first creation happens in your mind —it’s where you envision what you want to accomplish. And, the second is when you align your actions to your imagination.” The very first step of dreaming is to have a clear mental picture as to what you want to achieve. It might not look possible at the onset. But, the whole idea is to blindly believe. The next step is to draw it on papers. It is very important that you kinaesthetically
The end goal doesn’t magically appear just because you have drawn it creatively in your mind. The next step is ‘Action’. We all line up ‘resolutions’ at the beginning of the year, but we painfully see that most of them wither away unaccomplished, due to lack of conviction and persistence.
involve in visualizing your dream, that your mind can envision it, your hands etch it onto a paper, and your eyes can see a skeletal framework of it now. The process of transferring it on a paper will reassure your desires and moves to a real world. You have a plan. If you want to lose weight, try picturing the toned-down-you on an image, and note down the weight you have lost in future and the weight of the new you. If you are starting a company, make a mission statement which you are religiously going to adhere to. It will explicitly announce to the world what you will do and what you are eager to achieve. If you are an entrepreneur or a sales leader, record the sales target you are going to achieve every single month and the end result by the end of the year. Start with the planned impact and do a reverse plan on the modus operandi. There is big power in imagining, envisioning your dreams in your mind. Without the conviction on purpose, nothing much can happen in the real world. When you are creating a blueprint of your dream -vision or mission- do take time to soak it into your heart and soul; brood over it, sleep over it, and take all pros n cons into consideration. Take into accounts
on all resources you might need to get to the goals, the materials you require, the people you need in support, the place you are planning the venture and so on. In the initial stages, before the actions are taken for the dream, it is your experience and intuitions that guide you. Take cues from what universe has aligned for you, how opportunities are being revealed to you and undoubtedly what your heart feels about the whole idea. Confirm that the project is realistic and achievable. It’s easier to pursue a dream which is doable and significant. Even though, sometimes even the impossible and the seemingly unachievable had been realized with sheer determination and grit. Remember, the ‘End’ you are keeping in mind is the actual output of the dream or goal you want to see in real. The end goal doesn’t magically appear just because you have drawn it creatively in your mind. The next step is ‘Action’. We all line up ‘resolutions’ at the beginning of the year, but we painfully see that most of them wither away unaccomplished, due to lack of conviction and persistence. There would be enough roadblocks that you might have to surpass skilfully.
Resolutions turned Solutions!
How do we diligently keep up to the goals that we promise ourselves? How do we keep up the enthusiasm we had initially when we set the target? Has the challenging surroundings contributed to the lack of interest later? A regular reality check has to be done in due intervals so as to keep up the vigour and rhythm. Our imagination helps creation. Our conviction fuels our planning. A strong structured
planning reinforces the actions to get the work done. Keep picturing yourself at the end. How would you look and feel after achieving the height? Feel it already. Let all your senses believe in the stroke of triumphing and recognizing the goal through your senses already. Make sure your review your mission and vision statement regularly in order to remind you of your goals. Remind yourself why you started
after all and what was the motive in planning the dream. Have a solid purpose so that stimulating becomes easier; even when things get tougher at times. A goal-driven life is a thing to relish. There is something to drive you, to wake you up early from your bed without pressure, something that you heartily live for, that becomes your fuel for success. Most
of the successful people spring up from the bed early enough with that unending desire to see their dreams accomplished, to chase a purposeful life. When you identify a resolution or a goal, replace the existing with a strong habit that catalyzes your dream. A habit is something that will take you closer to accomplishing the desired. Replace habits, as it would be difficult to stop or eliminate some abruptly. Again, write down the bad habits you’d lie to get rid off, and note down the new ones you pine to reinforce into your life. Be easy on yourself. Forgive yourself on certain areas of life. It’s not always easy to chase a goal and get it done
–be realistic in setting habits and goals. Your brain should not detect your change in behaviours as a punishment on yourself. Set simple actions first and slowly increase the frequency and levels. Break it down into smaller achievable tasks, reward yourself on each accomplishment. Have people around you who can cheer for you, who will help you to stay focused onto your goal. Do not ever tell yourself that this is going to be fast. Have faith. Give it time and do not give up if it didn’t happen in the time you stipulated. There are always reasons to deliberateon things that has delayed. Analysing the proceedings will give you a clear picture on what went
wrong. It will help you restructure your action plan and streamline your engagements. No one’s perfect, nor are your resolutions. And, half of the resolutions go down the drain before the mid year, but yours doesn’t have to, if you conscientiously decide to reorganize and rebuild. It doesn’t matter where you stand at the stage of life, All that matters is whether you have the fortitude to take the decision to start with the new change. Just do your part with utmost commitment, and leave the rest for universe to work on you. Wishing you all determination and success this 2018!
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PANEER FRIED RICE
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Basmati rice.............................. 1 cup Sliced Paneer...................... 100 gram Sliced Green chilli............................ 3 Ginger garlic paste............ 1 tea spoon Sliced Onion..................................... 1 Garlic cloves..................................... 2 Green peas............................. 1/4 cup Cashew nuts..................................... 5 Finely chopped Coriander leaves Cardamom........................................ 2 Oil........................... 2 table tea spoons Salt..........................................to taste
Heat oil for deep frying and fry Paneer, Onion and green chilly pieces until it is golden brown colour. Add the basmati rice in pan containing hot water for a few minutes. Heat 2 spoons of oil in a pan add Cardamom, cashew nuts and Coriander leaves fry for few seconds. Then add onion pieces and green chilli fry for 2 minutes. Now add ginger garlic paste mix well. Now add 2 cups of water and let it boil. It is starts boiling add soaked rice, green pieces and salt to taste mix once. And close lid, cook in low flame for 5 ¬ 10 minutes. When the rice is cooked done then add the paneer pieces, and keep it in low flame for more 2 minutes.
EGG FRIED RICE Ingredients
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Basmati Rice........................................................................ 1 cup Water...................................................................................2 cups Salt.....................................................................................to taste Oil.............................................................................. 2 tablespoon Garlic......................................................... 1 Tbsp, finely chopped Egg.......................................................................... 1, well beaten Carrot........................................................................ 1/2, cut thin Pepper.......................................................................1/2 teaspoon Cabbage..................................................................1 cup, cut thin White Vinegar.............................................. 1 teaspoon or to taste Chilli Sauce........................................................................to taste Spring Onions.....................................................................1 stalk
Preparation Wash and rinse the rice. Add Water and a little bit of Salt and add to pressure cooker. Give it one whistle and turn off the stove. Allow the pressure to release by itself. In a pan, heat Oil. Once warm, add in Garlic, cook for about 1-2 minutes. Add in the Carrots and cook Add Pepper and Cabbage and cook for a minute. Pull the Vegetable to one side of the wok and break the egg on the other. Stir the Egg and scramble it till cooked. Mix in with the vegetables. Cook Vegetables till they are soft. Add in the Cooked Rice and mix well. Add White Vinegar and the Chilli Sauce . Mix well . Heat till the rice is heated all the way through. Garnish with Spring Onions.
PEPPER CHICKEN Ingredients
Chicken...................... 400-450 gms, cut into medium size pieces
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Pepper powder...................................................................... ¼ tsp Lemon juice.......................................................................... 1 tsp Salt.....................................................................................to taste
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Onion.................................................................... 2 large (sliced) Ginger & garlic paste............................................................ 2 tsp Green chilli.......................................................................... 1-2tsp Black pepper...................................................................... 1¼ tsp Garam masala...................................................................... ½ tsp Fennel powder...................................................................... ¼ tsp Turmeric powder.................................................................. ¼ tsp meat masala......................................................................... ½ tsp Soya sauce............................................................................. 1 tsp Tomato sauce........................................................................ 1 tsp Curry leaves Coconut oil Salt to taste
Marinate the cleaned chicken pieces with salt, pepper powder & lemon juice. Crush the whole black pepper . Heat oil in a pan & add onion. Let it brown. Add grated/crushed ginger and garlic, green chilli and curry leaves. Let it cook till the raw smell goes, around 3-4 minutes. Add crushed pepper, turmeric powder, garam masala, fennel powder and chicken/meat masala (if using). Mix well. Cook for another 2-3 minutes. Add soya and tomato sauce/ ketchup. Mix well. Add ¼ cup water and salt and mix well. Add marinated chicken pieces. Combine everything well and make sure that chicken pieces are coated with masala. When chicken starts changing the colour add ½ cup water & mix well. Let it boil. Reduce flame and cover and cook it till the chicken is done. Check in between, give a stir and add more water only if required. Once the chicken is done, remove the lid, add some curry leaves and continue cooking for another 5-7 minutes on low flame, just to roast it a little more. Remove from fire. The dish will get a darker shade once it rests.
ORANGE STEAMED PUDDING Ingredients
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Orange......................................................................................... 1 Orange Juice.......................................................................3 cups Fresh Cream........................................................................2 cups Gelatine................................................................................3 tbsp MILKMAID...........................................................................-1 tin
Preparation Soak gelatin in orange juice. Heat over a pan of hot water till gelatin dissolves. Cool and keep aside..Whip cream till light and fluffy (Save 3- 4 tbsp cream for decorating), fold in NESTLÉ MILKMAID Sweetened Condensed Milk. Mix in juice and gelatin mixture and pour into a wet mould and freeze. Unmold and serve decorated with orange sections and whipped cream.
Dr. Elizabath Chacko, MD-Kalpana's International
10 New Year Resolutions You Could Take For Maintaining
t is felt that all those memorable moments gifted by the year 2017 happened last day. In this first month of the New Year, we have begun our new life. A new beginning often comes with new responsibilities. Take some time and do everything you could to maintain your appearance. Here are the top ten highly-recommended New Year resolutions you could take...
1. Shampoo your hair twice every week
In order to maintain every strand as fresh as possible, you need to get rid of the dirt that is being accumulated. Shampoo your hair and apply conditioner after bathing. The silky appearance will be there.
2. Switch from artificial products to natural products
We have the tendency to use artificial makeup products for beauty enhancement. While it cannot be avoided completely, try to avoid it as much as possible. Use turmeric powder, honey-milk combination, lemon etc for the skin maintenance.
3. Drink lime juice every now and then
Natural food products will enhance the taste buds as well as health. Both virgin coconut oil and olive oil are good anti-oxidants that will help in the anti-aging process.
6. Reduce the intake of milk and milk related products
Vitamin C is good for the immune system and skin. Drink Fresh as often as possible. Drink sugarsalt combination for the intake of both glucose and electrolytes.
Worst way in which body accumulates fat is when it gets all the fatty products on the regular diet. Try to avoid milk products in your daily diet and reduce it to once or twice a week.
4. Drink tea and coffee without sugar
7. Maximise protein in our diet
The best way to maintain body weight is by avoiding sugar in tea and coffee. The anti-oxidants in both these drinks will help in destroying body fats and aging process.
5. Use Olive oil and virgin
Protein is better in terms of energy, and is good for maintaining the weight. Try to have as much as protein rich food in your daily diet, and reduce the intake of carbohydrates. Protein helps in fat burning process and bodybuilding. Take eggs, pulses, and fish in your food.
8. Use sunscreen while going out
Never forget to give adequate attention for the protection of your skin. Carry a sunscreen with you and apply it whenever you go out in the sun.
To avoid that, maintain your appearance by keeping the necessary products with you. Use a good face wash. If possible carry it where you work and wash your face during break time. So you won't look tired during the evening.
9. Wash the face daily after sweating it out
10. Increase vegetarian content in our diet
After reaching home from work, people tend to look worn out.
items. Never avoid vegetarian food in your diet. Try to add them as much as you could. However, make sure that you wash the vegetables properly to wash away the pesticides. Wish you a great year ahead. Work hard and may all your dreams come true ď Ź
Usually, at home, people tend to make just non-vegetarian food
Antarctica is a perfect destination for adventurous tourism. It offers those adventurous experiences which one never dares to attempt a second time.
e all have dreams. Some dreams are wild. The wild dreams are difficult to fulfill. Do you have any such wildest dream? The question itself is irrelevant as the human beings are still incapable to win their own nature of dreaming like idiots. Have you ever dreamt about an adventurous trip to the world’s last pristine wildness? Just like the majority of our readers, the writer also has experienced such a wild dream. With the presence of monster winds, frightening silence, unbearable coldness and inescapable loneliness, the land where the writer has been taken to by his wild dream has been equally fearful and adventurous. Have you ever heard about such a land? Only land which qualifies all the disturbing characteristic features mentioned in the aforementioned sentence which describes the writer’s wildest dream is Antarctica.
Antarctica is neither a country nor an imaginary world. It is the fifth largest continent of the world. Unlike other continents, there are no permanent settlers in this continent. It truly deserves the title, ‘the world’s last pristine wildness’. Less than fifty thousand people visit this land yearly. Of these visi-
tors, less than two thousand people stay more than seven days in this land every year. The preponderance of those who live more than seven days in this continent are scientists reached the land at the behest of their respective nations to do research operations carried out in their respective country’s research houses operating in the continent. Though there is no formal government in Antarctica, the activities of those who have interest in this land is regulated using the Antarctic Treaty System, which had came into force in the year 1961. Argentina, Australia, Belgium, Chile, France, Japan, New Zealand, Norway, South Africa, the Soviet Union, The United Kingdome and the United States are the first signatories of the treaty. At present, there are nearly fifty-three signatories to this treaty. The treaty prohibits the countries to use this continent for resource exploitation, military purpose, nuclear experiments and nuclear waste dumping. The treaty allows the countries to establish research centers, to perform experiments, and to constitute watchdogs. The International Court of Justice is granted the right to adjudicate the disputes between those countries which have interest in this land in the matters related to the treaty and this continent.
There is no industry, and thus no economy, in this continent. Only recently, the potential of the tourism industry has been explored. The tourism sector of this continent is at a very primitive stage due to the unavailability of proper infrastructure and connectivity and due to the presence of harsh and rapidly fluctuating weather condition. Nonetheless, at least forty thousand people visit this continent yearly. Antarctica is a perfect destination for adventurous tourism. It offers those adventurous experi-
An adventurous trip to the worldâ€™s last pristine wildness
ences which one never dares to attempt a second time. Travelers can either use the aircraft services or the cruise or ship services to reach this adventurous destination. The majority of travelers prefer the cruise or ship services over the aircraft services as the former is more adventurous and economical than the latter, which is less frequent and highly susceptible to weather fluctuations which are unavoidable and very common in this part of the world.
South Americaâ€™s southernmost tip is the place from where the Antarctica cruise or ship trip normally begins. A sea trip to this continent is not easy like other similar sea trips. The nature has many defence mechanisms to make this land inaccessible. One such defence mechanism is Drake Passage, the region in the sea where travelers usually experience some difficulties such as seasickness, particularly if the weather condition is not good. This fight against the nature to reach its treasure is actually
worthy. Most travelers get chance to see fearless whales, beautiful icebergs and splendid scenery in this adventurous sea journey. Different travel agents organising the ships and cruises trips take travelers to different regions of the continent in accordance to their permitted trip route. The travel enthusiasts who wish to book a trip to this land must make sure that the places like Deception Island and Port Lockroy are
there in the offered route and the adventures such as kayaking, polar plunge, camping and zodiac tour are there in the to-do list. Kayaking and zodiac tour may sound odd, but it is actually possible even though the water of this continent is freezing cold and filled with hard ice. Polar plunge and polar camping are two things one never dares to attempt for a second time, but it is defiantly the most adventurous activities available in our earth. Most of the polar animals are very friendly and curious. Like the whales which will continuously surround your boat, and, thus, fill your heart with joy, during your trips, the polar penguins will definitely shower you with happiness with their naughtiness once you enter this land. For photographers, there is no other place as photogenic as Antarctica in this world. Natural enthusiasts easily fell before the beauty of this land. This land and its inhabitants (the animals like whale and penguin) are very innocent. Those who wish to use this innocence filled in this Antarctica air to cleanse their heart should not make a second thought before booking the trip to this gifted landď€˝
he Volkswagen Passat has always been the proper middle ground between the executive cars and the entry level sedans from luxury automakers. It offers the performance, the toys and the comfort, without the extravagance. It, then, is the perfect tool for the businessman, who doesnâ€™t want to annoy his boss.
Volkswagen took three long years to bring this new version to India after its international debut. It is the new eighth generation (sixth, actually if you discount the B5 and B7 which were actually facelifts) model based on the MQB architecture that underpins the new Superb. The front grille, with its extended chrome, over the headlamps, makes it appear
wider and lower. The side profile is unmistakeably like the last two Passats before it, and the rear appears to be an evolution of the previous B7 with thinner tail lamps. It is not a design that gets you excited and talking, but will please everyone. These days VW makes the Arteon (Passat CC as it was known earlier) for those who want a sporty four door sedan, so the Passat has to
Volkswagen took three long years to bring this new version to India after its international debut. It is the new eighth generation (sixth, actually if you discount the B5 and B7 which were actually facelifts) model based on the MQB architecture that underpins the new Superb.
do the sensible family car role. The new Passat is unassuming, yet elegant; actually, that works. The sense of solidity and understated elegance prevail on the inside too. The Passat gets a very modern dashboard with vents that run its entire length like you get in modern Audis. The familiar analogue clock still takes centre stage, and the infotainment system is reasonably big and now packs so much functionality into it. You
get park assist, 360 degree cameras, tyre pressure monitoring, Android Auto and Apple Car Play, three zone climate control, nine airbags (including one for your knee), selectable driving modes etc. The Indian car doesnâ€™t get the fully digital instrument console for some reason although you get pointless features like heated seats thrown in. The seats both front and rear are firm yet supportive, something you will appreciate over long distance. The rear seats have
generous legroom and headroom is surprisingly good for the roofline. The boot which opens to a small wave of your leg near the rear bumper is cavernous at 586litres. It can be further increased by folding the 60:40 splitting rear seats down, via a lever in the boot itself. The engine is the familiar 2.0litre diesel, here with 177bhp and 350Nm mated to a six speed dual clutch gearbox. It is similar state of tune as in the Superb, dispatch-
ing 0-100kmph in 8.46sec. It feels instant and ready to rev right up to 5500rpm. The gearbox is quick to up-shift and reasonably fast to down-shift too, letting you make full use of the well weighted paddle shifts behind the wheel. The punchy nature of the engine lets you do quick overtakes and in sport mode, the throttle responses are even sharper. If there is one downside, the engine is a bit harsh and you are always aware it is a diesel underneath. It is quite fuel efficient than the earlier motor returning over 16.2kmpl in mixed conditions in our tests. It is the first time, the Passat or any car in its class, comes with electronic damper control linked to the driving modes. If you select sport, it will stiffen up the dampers, load up the steering, sharpen the throttle and make the gearbox hold on to gears much longer. In this mode, the car is relatively good fun, changing directions eagerly and feeling composed even on the undulating bits. There seems to be some braking on the inside wheel to make the car turn in sharper, the brakes are fantastic and fade free. On the stiffer setting, the suspension tends to crash bit more than ideal. Also, you feel the suspension could do with a bit more travel and refinement. It is setup on the firm side but you donâ€™t feel too much movement in normal mode, at city speeds. In a segment that has seen huge decline in sales over the last few years, the new Passat makes a strong case for itself. It is a marked improvement over the car it replaces and one that can prove to be a good alternative to rivals from a segment above. It comes featurepacked, is comfortable, spacious, practical, good looking and now better to drive than ever before. If understated elegance is your thing, there is nothing quite like it.
t is a horror film produced, directed and written by renowned director Vikram Bhatt, who was the creative head of ASA Productions and Enterprises Pvt. Ltd. It is the fourth film in the 1920 film series, which has in the near past gifted three successful films to the Bollywood film industry. Zarine Khan and Karan Kundra appear in the lead roles in the movie. Apart from these exceptional actors, Manjit Singh and Rachel Shaw act in the movie. The interesting fact is that the director himself appears in the film as an important character. As usual, in this latest film of the series also, there are many extra-ordinary music compositions. Harish Sagane is the music director of the film.
t is a comedy film directed by renowned film maker Vipin Parashar. It is produced by Ravindra Singh, under the banner of RVision India. The film tells how some fraud spiritual leaders misuse the blind trust, placed over them by the innocent people, to amass black money and to do illegal activities. Prem Chopra, Ashutosh Rana, Rajneesh Duggal, Bruna Abdullah and Amanda Rosario appear in the prime roles. There are many appreciable comedy sequences in the movie. The director deserves a special appreciation for the courage that he has shown to discuss the sensitive subject. The film is a good entertainer.
Insidious: The Last Key
t is a horror film director by acclaimed director Adam Robitel, who is also a well-known actor and screenplay writer. It is the latest film of the horror film series â€œInsidiousâ€?. The film tells the story of parapsychologist Elise Rainier, who is invited by her destiny to confront one of the biggest challenge of her life (to confront the demon she unintentionally set free years before). Lin Shaye, Leigh Whannell, Angus Sampson, Spencer Locke and Josh Stewart appear in the lead roles in the film. The film has received mixed reviews. Anyway, the majority of those, who have come up with reviews, have claimed that it was a feel good film.
All the Money in the World
t is a suspense thriller directed by popular director Ridley Scott. It is a big budget movie; at least fifty million US dollars have been invested in it by its producers (Ridley Scott, Kevin J Walsh, Mark Huffam, Bradley Thomas, Quentin Curtis, Dan Friedkin and Chris Clark). It tells the story of a billionaire grandfather, a kidnapped grandson, a merciless kidnapper and a confused mother. The film tries to expose the true and lasting value of love over money. Charlie Plummer, Christopher Plummer, Mark Wahlberg, Michelle Williams, Romain Duris act in the lead roles in the film. The film has received good reviews. It is one of the best films which have reached the theater in the last week.
Rasia The Dance of Desire Author Price
: Koral Dasgupta : Rs. 282
he book tells us the story of a professional Bharatanatyam dancer, his wife, who is also a classical dancer, and a girl, who has been introduced to the dancers’ life by the destiny to test the depth of the couple’ love. The book extensively discusses the complexities of modern relationships. The writer is a professor of Marketing, Communications and Creative Writing. This book is her third book. Her previous books –‘Power of a Common Man’ and ‘Fall Winter Collections’ – have received wide appreciation. The book is one of the most beautiful love stories released this year. The writer has brilliantly used her writing skills to make each page exceptionally good.
SuperSiblings: Inspiring Stories of Enterprising Siblings Author Price
: Prachi Garg : Rs. 146
n business, relationships are very important. Those who join us and those who split away from us heavily influence the future of our business. It is very difficult to find a good business partner. Can your brother or sister become a good business partner? This book says those siblings, who have grown up together, who share almost similar likings and characteristic traits, and who possess similar values, can become good business partners too. The book tells us the stories of several such siblings in order to prove the writer’s argument. The writer has succeeded in stating his point beyond the scope of doubt.
Mergers, Acquisitions, and Corporate Restructurings (Seventh Edition) Author Price
: Patrick A Gaughan : Rs. 6,262
t is an academic book. It deals with three complicated corporate activities: mergers, acquisitions and corporate restructuring. The book clearly describes how these activities work, how these activities can be used perfectly and how these corporate activates are governed by the laws of major countries. It is highly useful for those corporate employees who handle mergers and acquisitions. It is the seventh edition of this book. Unlike the previsions editions, the writer has used several relevant case studies to clearly explain the key concepts in this edition. Apart from the case studies, there are several clear graphic representations and research materials in this new edition.
The Raisina Model: Indian Democracy at 70 Author Price
: Meghnad Desai : Rs. 374
ndia is the largest democratic country in the world. For that reason, the political developments in this part of the world often gain extraordinary global attention. This book tries to examine how our countryâ€™s democracy has evolved in last seventy years, and how the democratic institutions have contributed in the development of the democratic framework of our country. Unlike similar academic works, the book not only points out the positives, but also pin points the negatives. The book, unlike other academic books, also dares to discuss about the complicated political subjects such as the political parties, one-party system, coalition system and the regional politics. It is clear that the writer has in depth knowledge in the subject. It is one of the best political academic books.
Printed On 01/ 01/ 2018
RNI Reg No. KERENG/2011/42633