Issuu

Vol 8 Issue No.93 July-Aug 2019

The case for parity between Banks and NBFCâ€™s in tax laws Shri V.P. Nandakumar, MD & CEO Manappuram Finance Ltd.

Penang:

The Pearl of the Orient THE passionate MAN WITH

GREATER MANIFESTATION

Shri. Tom Jose IAS, Chief Secretary, Government of Kerala

Editorial

Chief Mentor Mr. V.P. Nandakumar Director & CEO Jebitha Ajit amous American writer and No Editor Jebitha Ajit bel laureate William Faulkner Legal Advisor Latha Anand said: “You cannot swim for new ho B.S.Krishnan Associates rizons until you have courage to lose bskrishnanassociates@gmail.com sight of the shore”. Sub-Editor Vignesh S.G Courage is the key to success. Associate Editor Ravi Saini Tom Jose, currently the Chief SecCorrespondents Dr. Thomas Nechupadam retary to the Government of Kerala, Vivek Venugopal- Quarter Mile believes that the success is the result of keeping a Amrutha V Kumar cool head despite challenge. During his 30 year-long Creative Design PEGASUS Cover Photographer Ashique Hassan stint with the Indian Administrative Service, Tom Marketing UAE Jose has won several accolades to his honor and he Phygicart.com thinks that keeping a composed logical head is es P.O. Box: 92546, Al Karama Dubai sential to survive. Our Cover Story unveils the life Mr. Anish K Joy and ideals of Tom Jose. Mob: +971528946999 In his column, Nandakumar, CEO and Manag info@phygicart.com ing Director, Manappuram, argues about the need Plot No 19A, 9th Floor, for parity between Banks and NBFCs in tax laws. Green Building, Film City, In Travel, our experts introduce Penang, which is Sector - 16A, Noida - 201301 nicknamed as the Pearl of the Orient. Tamil Nadu Our expert Auto Team presents modern upmar Vice president ket SUV, MG Hector from SAIC Motors, the biggest Uma Riyas Khan car manufacturer in China. We have all regular chennai, Mob: 9841072955 staples of travel, cinema, technology, health, beauty, Unique Times, No.6/31, book review, business diary, and expert columns etc. Arunachalam main road, which take you to new experiences. Saligramam, Enjoy reading Chennai – 600093 Karnataka Paperback Publishing 3218/A, 6th C Main, 13th Cross, HAL 2nd stage, Indiranagar Bengaluru 560038 Jebitha Ajit Andhrapradesh PEGASUS Ph: 09288800999 Sunilkumar NN Your wing Dr. Susan S Sunny Director Shwetha Menon

Printed at St. Reddiar & Sons, P.B. No: 3627, Veekshanam Road, Cochin Published at Pegasus Global Pvt. Ltd. L5-106, Changampuzha Nagar Kalamassery, Ernakulam-682 033 e-mail: editor@uniquetimes.org uniquetimesindia@gmail.com Ph:0484 2532040, 2532080 Mob:+91 98460 50283, 94470 50283

Cover Photograph Shri. Tom Jose IAS, Chief Secretary, Government of Kerala

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CONTENTS

The case for parity between Banks and NBFC's in tax laws

The new rules of communication for the emerging professionals

The passionate man with greater manifestation

Cheque bounce cases-Emerging trends and jurisprudence

Change your mind!

Gadgets

Recipes

Skin Care Tips for Monsoon

Penang: The Pearl of the Orient

MG Hector

UNIQUE DIARY

NDA2 presents its first budget

he National Democratic Alliance, who got a second consecutive chance to rule the country after winning the latest General Election (in which NDAâ€™s leading party BJP single-handedly crossed the majority line by securing more than 300 seats in the 545 member parliament), has presented its first budget. The budget has been presented by the first full-time woman Finance Minister, Nirmala Sitharaman. Not many changes have been made in the budget from the interim budget presented just before the commencement of the recent General Election. Affordable housing sector, public sector banks, NBFCs are likely to benefit greatly from the latest budget. Some important tax reforms have been suggested in the budget. The budget indicates that the NDA2 is the exact continuation of the NDA1.

Jewellery industry seeks reduction in customs duty on gold

"In order to succeed, your desire for success should be greater than your fear of failure." Bill Cosby

he jewellery industry has sought reduction in customs duty on gold. The All India Gem and Jewellery Domestic Council has approached the Finance Ministry with the request recently. The present customs duty on gold is around ten per cent. As per the opinion of the council, the high customs duty on gold is what encourages gold smuggling in the country. According to the councilâ€™s opinion, the reduction in customs duty on gold will make gold smuggling less lucrative and help the country overcome the loss it faces due to smuggling. The council has requested for reduction in customs duty on gold from the present ten per cent to around four per cent.

July-August 2019

US to help India to overcome oil crisis caused due to fall in oil import from Iran

he United States has increased its oil supply to India to help the South Asian country to overcome the oil crisis, occurred in the country as a part and parcel of the White Houseâ€™s decision to intensify its economic sanction against Tehran and to prevent its close partners from maintaining any business relation with the Arabian Country. Meanwhile, the oil import from Iran to India has reduced considerably â€“ a reduction of around 48 per cent has been marked so far. Earlier, the US advised India that the latter should cover the gab, caused due to the reduction in oil import from Iran, with the increase in oil and gas import from the worldâ€™s largest economy.

Uber acquires AI start up to improve its technology for self-driving cars

"Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved." Helen Keller

pp-based service provider conglomerate Uber has acquired an Artificial Intelligence start-up, named Mighty AI, to improve its technology for self-driving cars. Notably, the concerned parties have not disclosed the terms and conditions of the acquisition. Anyway, the conglomerate indicates that as many as forty efficient employees, fuelled the growth of the AI start-up from a beginner start-up to a promising start-up, would join the advanced technology group of Uber, responsible to handle all technology-related matters concerning the app-based company including the development of its technology for self-driving. The app-based service provider company is at present in the task of developing its technology for autonomous cars.

July-August 2019

UNIQUE DIARY

HCL conducts mega recruitment drive for freshers

nformation Technology conglomerate HCL has conducted a mega recruitment drive for freshers in Noida. Interestingly, the move has come at a time when the job opportunity for freshers remains at its lowest. The company will admit as many as 3000 freshers. Of this 3000, at least 2000 will be graduates (both engineers and non-engineers) and the rest will be those with at least Class 12 qualification or equivalent qualification. The new recruits will be employed in the challenging sectors of application development, testing, and IT maintenance and support. The fresh recruits will have to undergo a fee-based training program, and, after that, they will be placed in their respective departments in the company.

GST council orders multiplexes to maintain electronic ticketing system

"Success usually comes to those who are too busy to be looking for it." Henry David Thoreau

he Goods and Services Tax council has ordered multiplexes in the country to maintain electronic ticketing system. The significant order has been made during the 35th GST Council meeting. The order has been made to prevent the evasion of tax by multiplexes. The new order will force multiplexes to maintain digital record regarding their transactions. It will help to avoid the practice of colour ticketing, which is misused by some multiplexes to escape from the eyes of tax framework. The multiplexes in the country have welcomed the decision taken by the GST council to improve the efficiency of tax collection from the sector.

July-August 2019

BUSINESS

Parity in the regulations governing NBFCs and Banks is not a new demand. In the past few months, a lot of ground in this direction has been covered by the Reserve Bank of India (RBI). Shri V.P.Nandakumar MD & CEO Manappuram Finance Ltd.

ver the past nine months, the Indian finance industr y has gone through a phase of turbulence. First, it was the default by the AAA rated IL&FS, and then it was the turn of the highly rated DHFL. Investor confidence has taken a beating and regulatory scrutiny has increased,

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leading to demands from depositors and investors, for enhanced disclosure and a regulatory framework for NBFCs on par with the Banks. Parity in the regulations governing NBFCs and Banks is not a new demand. In the past few months, a lot of ground in this direction has been covered by the Reserve

Bank of India (RBI). The apex bank has brought about parity in the classification of NPAâ€™s post 90 days while its new draft regulations on Liquidity Framework for NBFCs aims at harmonisation of rules to bring parity between Banks and NBFCs. On the one side, we have the RBI striving to drive parity between banks

The case for parity between Banks and NBFC's in tax laws

July-August 2019

and NBFCs. But then, on the other side, the tax laws continue to differentiate based on the classification (and not the nature) of the business. Both Banks and NBFCs face delinquencies with loans becoming non-performing assets (NPAs). However, IT Act provisions such as Section 43D of the Income Tax Act 1961 allow Banks (but not NBFCs) to exclude interest due on an NPA account when computing total income for tax purposes. This is quite logical as recognition of interest income on delinquent assets is not permitted by the RBI. As with banks, even NBFCs do not account for such interest income in their total income, but strangely, they are compelled to pay taxes on them. And when it comes to the stage of write off of NPA’s, only the loss on principal due is allowed to be deducted from total income. The

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loss on account of unrealised interest is not allowed for deduction even when the NBFC has earlier paid tax on such interest as it became due. Let's say an NBFC gives a loan of `100 for 3 years at a simple interest rate of 10 percent with bullet repayment of principal. In year 1, the borrower pays `10 as interest and is accounted and taxed per rules. In year 2, the account becomes NPA, and the NBFC receives no income by way of interest. As no interest is received in hand and the account classified as an NPA, the RBI rightly disallows recognition of interest due as income. Interest income in respect of accounts classified as 'standard assets' is to be recognised on an accrual basis and that in respect of accounts classified as 'non-performing assets' shall be recognised on a cash basis. However, the Income Tax Act of

1961 seeks taxes from NBFC on the said interest due even in respect of bad or doubtful assets. The agony doesn’t end there; suppose that the NBFC pays tax on `10 interest due in year 2 and in the year 3 the account is written off. As per the same act, the NBFC will be allowed to account for the loss of principal (`100) but not for the loss of interest in year 2 (`10, already subjected to tax). Effectively, the NBFCs pay tax even on unrealised interest income, and there is no provision for the NBFC to claim back taxes already paid on interest due that subsequently remains unrecovered. Banks, however, pay tax only on realised interest on bad debts. The Income Tax Act, Section 43 D, provides for special provision as “…the income by way of interest in relation to such categories of bad or doubtful debts as may be prescribed having

regard to the guidelines issued by the Reserve Bank of India in relation to such debts, shall be chargeable to tax in the previous year in which it is credited by the public financial institution or the scheduled bank or the State financial corporation or the State industrial investment corporation to its profit and loss account for that year or, as the case may be, in which it is actually received by that institution or bank or corporation, whichever is earlier.â€? This discrimination, which al-

lows differential treatment of the same borrower account by different lenders, must go. While Banks are given the benefit of claiming back the tax paid on unrealised interest, no such forbearance applies to NBFCs even as the RBI mandates similar treatment of an asset, irrespective of whether the lender is a Bank or an NBFC. It is, therefore, our suggestion that the Finance Minister should recognise the anomaly and include NBFCs in the list of the beneficiaries of the said Section 43 D of In-

come Tax Act. It will help set right a historical wrong. Besides, the need for inclusion of NBFCs under Section 43 D becomes even more important in the wake of new RBI guidelines on Prudential Framework for Resolution of Stressed Assets, mandating NBFCs to be part of the resolution frameworkď€˝

(V.P. Nandakumar is MD & CEO of Manappuram Finance Ltd. Views are personal.)

BUSINESS

Rajesh Nair Partner-Emerge Ventures Pte Rajesh is also the President of the Kerala Chapter of TiE Global

Innovative professionals also put focus on a positive feedback loop: they have a clear purpose which attracts creative ideas, and their unique culture nurtures passion in their teams, which drives them to be more inventive.

deas have always drawn a premium and businesses seek employees who can think in non-linear fashion and come out with substantially radical views on various matters of strategy and implementation. But, the new digital world has also changed the world order when it comes to ideas. It is not just the embellishment of the idea but about the way we articulate the same. The key is to interweave creativity with data to maximize the consumer experience and, ultimately, the business model. The ability to tell a story will remain paramount. But, the synergy of combining creativity with data allows us to explore the experience in its many forms and still understand the strategy and its deployment holistically. Data will play the central influential role as the complexity of the consumer and unfolds the product/services landscape. Data will constantly unlock key insights, but the management imperative will be putting the human experience at the very core. With an increase of technology ideas and avant garde, the ability to explain that to a wider audience becomes paramount. How often do we see the geeky software savant with a crumpled shirt and lazy parka explains technology and one would wish â€“ can he explain in English please?

July-August 2019

The new rules of

communication for the emerging professionals

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It is true, it is not enough if you have this ‘inventing fire’ kind of idea but should also have the skill to elucidate to a wider group in simpler terms. Today, Google decides (of course, an algorithm) what the results of your knowledge searches are. Which means a search engine can present a filter bubble to you and feed you what it wants. This is not to hint the prosaic and fuel the eternal debate that software programs are taking over, but to aver that, the information you get is what a software program logic decides. Another school of thought on the ‘filters’ is that, the more you search and increase your online footprint, the kind of information you are fed is also akin to your search and browse histories e.g. The more you read economics, the more suggestions in that area. The online commerce sites are already doing it. Your shopping history prompts suggestions on what else to buy. The propensity for you to buy something which was not in your radar is much more during an online jaunt rather than a walk in the supermarket. As David Epstein mentions in his new bestseller ‘Range’ – it is also the ability to ply with a wider range of information and wear the generalist hat with aplomb.

July-August 2019

Today, the brightest engineers are not working in engineering, science graduates are modelling the vicissitudes of stocks and bonds and the literature graduate is the bean counter at a bank branch. The youth are not afraid of taking a complete break from their qualifications and pick up choices that interest their palette which could be varied from running eateries, monetising their arts interests and travelling. Cross functional movement while happens due to various necessities, they also abets interesting diversity. Innovative professionals also put focus on a positive feedback loop: they have a clear purpose which attracts creative ideas, and their unique culture nurtures passion in their teams, which drives them to be more inventive. The social impact of the work, the thrill of solving interesting problems, a sense of autonomy, the excitement of collaboration, and the enhancements of oneâ€™s skills are all key ingredients to the kind of purpose-driven culture that fosters disruptive innovation. Revenue, profits and sales pipelines are necessary conditions for a companyâ€™s existence. But, when you look at the cultures of the worldâ€™s most innovative firms, they are rarely the overarching goal. Companies with the greatest innovation rates often have loftier ambitions and a

July-August 2019

higher purpose that energizes and unifies its people. They look beyond simply generating profits for shareholders to creating value for all their stakeholders. The popular examples of Apple removing sales targets and adding customer satisfaction and service to its core metrics are interesting if not audaciously exemplary. Communication is also connected to the deeper connection that employees have to their work. Do they see the greater purpose in what they are doing? Organisations are also modularising work to enable employees see the direct benefit of their ideas at work rather being part of a humongous project where your individual ideas lack its identity. It also pays to remember that

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For the professionals entering into the portals of their careers, it is an interesting challenge.

innovation doesn't come just from giving people incentives; it comes from creating environments where their ideas can connect. For the professionals entering into the portals of their careers, it is an interesting challenge. The mindset of an inquisitive student cannot be forgone and it is the ability to adapt to new technologies and business models, that will prove paramount in handling change. Ideas have to be articulated a lot better and also with the ability to synergise with digital working models. What

is also changing is the paradigm of collective wisdom. Never has collective wisdom been so underrated in the recent past. The power of the individual idea has more premium than ever before. View of the world will have to change as it cannot explain several phenomenon which have evolved in the digital era. It is not just technology, but how management intuition is configured. What seemed like a well-covered, concrete, management decision often falls short. The new age managers need to constantly remind themselves that while the foundations of management communication remain the same, the delivery and articulation will have to follow the new world order!ď€˝

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THE passionate MAN WITH GREATER MANIFESTATION

om Jose, currently the chief secretary to the Government of Kerala, is a 30-year-experienced veteran of the Indian Administrative Service, and has several accolades to his honour. He was previously Additional Chief Secretary of the Labour, Skills, Excise and Water Resources Department of the Government of Kerala. He was earlier the Principal Secretary of the Public Works Department. Tom Jose was born in Pala, Kottayam. Mr. Tom Jose received his MBA with specialization in marketing from Cochin University of Science & Technology. He attended St. Thomas College, Pala for his Bachelor’s degree in Commerce. In 2010, he received a diploma in Public Administration from the Maxwell School at Syracuse University, the pre-eminent university in the field of Public Affairs in the United States. Mr. Tom Jose has presented research papers on business ethics, entrepreneurship, and economic development at national and international management conferences. His articles have appeared in such publications as the Business Intelligence, The Indian Manager, and Austrian Journal of Applied Ethics. He smiles in smug and states that he in fact stumbled into IAS at the age

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of 24 years, when he saw a photograph of IAS topper and he decided to give it a try. He cracked it, and the rest is history. He has enormous administrative, managerial, and diplomatic experience, and occupied various posts at state, national and international levels. He has been the Managing Director of large enterprises, such as the Civil Supplies Corporation, Construction Corporation, and Rubber Mark. He has also led the Directorate of Industries and Board of Revenue. Earlier, in his career, he was the Sub-collector of Trichur and the Collector of Pathanamthitta. Afterwards, he held the charge of the Managing Director of KSIDC before being posted in Labour Department as Principal Secretary. From there, he was promoted as Additional Chief Secretary, Labour & Skills. As ACS, he was instrumental in setting up and promoting Kerala Academy for Skills Excellence (KASE), which later became State Skill Development Mission (SSDM). Centre of Excellences in Public- Private Partnership Model were floated by KASE and a national level ‘Skill Fiesta’ on the lines of World Skill Competition were also conducted. From 2000 to 2004, Mr. Jose, as the First Director of Air in the Ministry of Defence, handled weapon

He has enormous administrative, managerial, and diplomatic experience, and occupied various posts at state, national and international levels.

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acquisition, air traffic management, air security, personnel management and policy for Air Force, among other things. He spent nearly four years in Moscow, Russia as Chief Coordinator for Military Technical Cooperation between India and Russia. During this time, his duties included promoting military ties, developing strategies, acquiring strategic weapon systems, and improving relationships with Central Asia, India and Russia etc. It was a job which had many interesting dimensions to it. On reminiscing Russia, Mr. Tom Jose fondly remembers that even though the country is cold, the people there are very warm and resilient in their behaviour and attitude. The country, with a lot of rich culture and history, has gone through terrible times, despair, wars, and monarchs. It was an enchanting experience, he reckons. He travelled to places the common tourists never step their foot into, such as high security areas, and far flung areas like Mama and Arkhangelsk. It was a real experience to the Northern Pole and revel in the amazing scenic climate there. In 2011, he was chosen as the Managing Director of Kochi Metro for setting up the company and obtaining approvals from the Union Government for the Metro project. This he achieved within a record time of 9 months, a feat unheard of in bureaucratic circles. He was instrumental from setting up the company from the scratch, secured approval from Govt. of India in a record time. There indeed were challenges and oppositions from the system and society. Now, he is proud to feel the sense of accomplishment, as metro opened solutions to the severe traffic problems in the city. He still does follow up the progress of the project as a chief secretary, as the current corridor’s inauguration is pending in the coming months. He won accolades all around for his cool leadership in the handling of Kerala Floods 2018. The state managed the rescue and relief operation with much composure, and was appreciated to have taken care of the

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disaster management in an exemplary fashion. He considers it as one of the great highlights of his career. A new urban canal-rejuvenating programme is under the pipeline, which will elevate the city into the levels of Venice, and is in the process of acquiring land for relocating the people near the five canals. There are a lot of places in the town where the normal people cannot reach via road, but only through water. However, unfortunately, there is no water transport which connects those now. Around 60-70 boats are under planning and jetties are tendered. These boat are going to take you to places you thought never existed, and this

He spent nearly four years in Moscow, Russia as Chief Coordinator for Military Technical Cooperation between India and Russia.

will be a sure development to the city. Another prestigious project he is working on currently is a leisure city inside Cochin which will be sprawling 40 plus acres of land which will include amazing entertainment, recreational and living activities. There is no ecosystem currently to relax and unwind or to hangout for the techies and other professionals in town. There will be a world-class indoor roller coaster, cinemas, boutique restaurants, zero gravity/virtual reality experiences, live permanent theatres like an amphi or closed grandeur ones, shopping malls, pubs and other leisure activities where you can spend a day. It is indeed amazing to hear out the vision of this magnificent mind of Mr. Tom Jose who genuinely expects to uplift the value of the city higher.

He then goes philosophical as he says that life is a series of sorrows with occasional bouts of happiness. It is indeed a struggle for survival like any other mammal, which you need to courageously face. One has to keep a cool head, and analyse the actionable possibilities. It has become a second nature to Mr. Tom Jose, coming from a management background to check the pros and cons. He states that every action has a consequence, and keeping a composed logical head is the key to survive. Do not blindly believe anything that come in your way, question the current belief system and find your own rationale perspective to it. You then tend to find aspects to it and it opens up broadened mindsets. You become more tolerant and will be able to accept other people more smoothly. Mr. Tom Jose’s grandfather used to have a splendid library and that had instilled a habit of reading in him. Being an ardent reader, it is very positively reflected as ‘wisdom’ in his demeanour now. He had read the entire Greek mythology in his childhood and the classics like Iliad & Odyssey. Something fascinated him strongly was Bram Stoker’s Dracula, and Mr. Tom is really looking forward excitedly to visit the Bran castle in Transylvania, Romania very soon. One really interesting visit that he remembers is of 221B Baker Street, London. He has driven around in Northern America, 3035 states of USA etc. In his leisure time, he also watches TV shows like A Man in the High Castle, which gives you different perspectives of what alternative possibilities could have happened in a parallel real life unlike in this exists. He also is fond of movies. He has a lovely wife, Soja Jose, and a son, Sean Michael Jose, who is pursuing mechanical engineering at Case Western Reserve University in Cleveland, Ohio, USA. We wish this spectacularly inspiring mind all the very best in his endeavours to develop and uplift the city and its value to world standards

July-August 2019

Arvind Menon:

The Master Strategist Who Changed the Course of Bengal Politics

n the recent General Election, the BJP demonstrated a highly impressive performance in the Indian state of West Bengal, where it had been considered as an insignificant force until the declaration of the election result. The saffron party increased the strength of its parliamentarians from the state to as high as eighteen from as low as two in the election. Notably, its vote share swelled from less than 16.8 per cent to around 40.25 per cent. The â€˜Mission Bengalâ€™, which was launched by the saffron camp to reduce the strength of the TMC in West Bengal and to increase the strength of the BJP in the state, thus was a tremendous success. It is important to understand how the notable success was achieved. There is no doubt that it was the result of hard work and dedication. Do you believe if it is said that the person who played a significant role in securing this success is a Keralite? Most will definitely raise their eyebrows if it is said so. But, it is a truth â€“ in other words, the hardto-digest truth. That hero or the master strategist is none other than Arvind Menon, the RSS pracharak hail from Thrissur in the South Indian state of Kerala.

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Around few months before, Mr Menon, the national executive member of the BJP, was appointed as the co-in charge and observer for the Lok Sabha elections in West Bengal. The gradual growth

Though Mr Menon is a Keralite, it is not Kerala that has made him what he is now. Clearly, he owes his growth in his political career to Madhya Pradesh, where he spent his earlier part of his political career. Actually, it was the presence of the leaders like Mr Menon in MP that helped the BJP to remain omnipotent in the state. Anyway, his service in the state was not unrewarded. Recognising the hard work he put, he was welcomed to the BJP Delhi Headquarters, where he was made the head of over 29 departments including the crucial policy-making cell.

The ‘Mission Bengal’

Around few months before, Mr Menon, the national executive member of the BJP, was appointed as the co-in charge and observer for the Lok Sabha elections in West Bengal. What was waiting for him in West Bengal was violence. He

was targeted by the TMC workers several times. His cars were attacked. The place where he stayed was attacked. But, nothing stopped him from performing the task bestowed on him by his party. His working style was different. He relayed less on the social media platforms, and stressed more on the direct interactions. He met the poor villagers of the state personally and convinced them why the TMC should be discarded and the BJP should be allowed to replace the TMC in the state. His fluency in Bengali helped him in his task in a big way. His focus was North Bengal, particularly Bankura and Bishnupur. In both these constituencies, the BJP won with an impressive margin. In Bankura BJP’s Subhash Sarkar defeated his immediate rival Subrata Mukherjee, the AITC candidate, with the support of the massive vote share of around 49.2 per cent, and in Bishnupur BJP’s Saumitra Khan, who won the impressive vote share of 46.25 per cent, pushed TMC candidate Shyamal Santra far behind. Likewise, Mr Menon involved in

the election activities in most of these eighteen seats where the BJP won in the election. In that sense, the victory of the BJP is the victory of this master strategist. For him, the victory is also a sweet revenge to those who welcomed him with violence and terror. He recently asserted that he would not leave the state before the complete defeat of TMC leader Mamata Banerjee. In his recent statements, there are indications that his next focus is the upcoming Assembly Election.

His roots

Back in Kerala, very few people know this efficient strategist. He is now a stranger to the place where his roots lie. Even he is a stranger to many of his family members in his birth place. The presence of the dedicated leaders like Mr Menon in the BJP is what makes the party the most invincible political organisation in the country. What the Kerala unit of the BJP lacks at this moment is a person like Mr Menon who is highly dedicated and extremely hard working

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FINANCE

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 sherryoommen@nashcp.com.

he Negotiable Instrument Act, 1881 (“the NI Act”) is the law that primarily postulates matters concerning bills of exchange including cheques. The NI Act has undergone various amendments keeping in light with the related times. However, there has been a common issue on pendency of such cases and the unconscionable delay that is typically involved in the realization of the amount. In my view, the changes in the NI Act passed vide Negotiable Instruments (Amendment) Bill, 2017 would indeed provide immediate relief to payees of dishonoured cheques. This is indeed evident on a plain reading of the Statement of Objects and Reasons of the said amendment, which states as follows: “The Negotiable Instruments Act, 1881 (the Act) was enacted to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques. The said Act has been amended from time to time so as to provide, inter alia, speedy disposal

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“The Negotiable Instruments Act, 1881 was enacted to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques. The said Act has been amended from time to time so as to provide, inter alia, speedy disposal of cases relating to the offence of dishonour of cheques.

Cheque bounce casesEmerging trends and jurisprudence

July-August 2019

of cases relating to the offence of dishonour of cheques. However, the Central Government has been receiving several representations from the public including trading community relating to pendency of cheques dishonour cases. This is because of delay tactics of unscrupulous drawers of dishonoured cheques due to easy filing of appeals and obtaining stay on proceedings. As a result of this, injustice is caused to the payee of the dishonoured cheque who has to spend considerable time and resources in court proceedings to realize the value of the cheque. Such delays compromise the sanctity of the cheque transactions. It is proposed to amend the said Act with a view to address the issue of undue delay in final resolution of cheque dishonour cases so as to provide relief to payees of dishonoured cheques and to avoid frivolous and

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unnecessary litigation which could save time and money.” Keeping the above in mind, the Government of India in the Gazette notification dated 02 August 2018 has notified the provisions of the Negotiable Instruments (Amendment) Act, 2018 (“the NI Amendment Act”). Pertinently, the following changes have now been incorporated as part of the NI Act, thereby to a certain extent alleviating the loss suffered by the complainant: (a) One of the key amendments introduced has been the introduction of section 143A to the Negotiable Instrument Act, 1881 (hereinafter referred to as “the NI Act”). Under the said provision, the Court trying an offence relating to cheque bounce has now been granted the power to grant interim compensation. The interim compensation has been determined as an amount not

exceeding 20 percent of the amount of the cheque. The said compensation would also need to be paid within a prescribed timeline. (b) A similar relief akin to (a) above has also been conferred on the Appellate Court with the introduction of section 148 to the NI Act. The said provision stipulates that in the event the drawer of the cheque appeals against his/her conviction, the Appellate Court has the power to direct the drawer to deposit a minimum of 20 percent of the fine or compensation awarded by the trial Court. Notably, the amount ordered by the Appellate Court is in addition to the compensation payable by the drawer of the cheque. The said amount ordered by the Appellate Court would also need to be paid within a prescribed timeline. There have been questions

raised whether the above-mentioned amendments would apply retrospectively or not. In my view, as the changes are purely procedural in nature, the said amendments would apply retrospectively. Hence, it would augur well for those seeking relief to approach the relevant courts at the earliest. The said proposition confirming the retrospective application of the above-mentioned amendments was recently upheld by the Supreme Court in the case of Surinder Singh Deswal 2019 (2) KLJ 983. The Hon’ble Supreme Court taking note of the purpose for which the amendments were introduced held that the provisions of section 148 enacted vide the NI Amendment Act would apply even to criminal complaints filed prior to

the said amendments, ie, prior to 01.09.2018. In the said case, the Appellate Court had ordered the drawer of the cheque to pay an amount of 25 percent of the cheque amount as compensation, which was upheld by the Hon’ble Supreme Court. In a cheque bounce case, section 139 of the NI Act creates a presumption in favour of the holder of a cheque as having been received in discharge of whole or part of a debt. In a recent judgment, the Hon’ble Supreme Court in the case of Bir Singh Vs Mukesh Kumar 2019 (2) KLJ 205 has held that presumption provided under section 139 of the NI Act would also apply in the case of a signed blank cheque. In conclusion, the sleuths of

amendments effected to the NI Act and the judgments of the Hon’ble Supreme Court have indeed added further solace to the aggrieved. In my view, with financial frauds being on the rise, it is time for the legislature to treat dishonour of cheques as a non-bailable offence with a higher punishment. Needless to state, it is imperative that those in possession of a cheque strictly adhere to the requirements of statute. For instance, the Supreme Court in the case of Dashrath Rupsingh Rathod 2014 (9) SCC 129 has held that proceedings against the drawer of a cheque can only be initiated before the Court within whose jurisdiction the dishonour takes place. Thus, the question of cherry picking the jurisdiction for filing the complaint does not arise

July-August 2019

MOTIVATION

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.

“T

he world as we have created it is a process of our thinking. It cannot be changed without changing our thinking.” Change is the only constant. This decade has seen the fastest change ever in the history of the world. We are staring dumbstruck onto the fast-paced growth of the country and world. Globalization has fast-paced the markets and opportunities and thus, came the need for change – for all of us. In-

July-August 2019

Change is inevitable for an organization. It has been ever demanding like a fast-paced time like today. Did you know that UPS started as a company that made deliveries by bicycle? More than 100 years later, it reaches across the globe. It’s the same with FedEx.

dustries and organizations are run by human beings. Today, as we face rapid change like never before, the employees and management are called into tune themselves to the growing demand for developing their knowledge, skills and attitude. Change is multifaceted, relentless, seditious, and occasionally shocking. So, why do businesses reorganize? The problem is, our organizations were never built to be adaptable. Those early management pioneers, a hundred years ago, set out to build

companies that were disciplined, not resilient. Anecdotally, we know that businesses restructure or reorganize operations rather frequently to accomplish many possible ends: focus, diversify, save money, meet a crisis, and/or exploit an opportunity. Hence, there calls in for changes in organizational structure, new business process and systems, cultural changes within the company, in the way and quality that the services are delivered, and even in the attitude of the team members. It comes

Change your mind!

through the right knowledge. The number one lesson is that resistance is inevitable. However, the perception to resistance will be expressed differently based on the circumstances and industry. Change agents may depict their changeresistance staff and management as “dinosaurs,” “incompetent” and “asleep at the wheel.” The incumbents fire back and call the innovator “a loose cannon,” “clueless,” or a “troublemaker”. According to theory of structural inertia, organizations

are very restricted in their competence to modify internally. Most often, stability is rewarded, for their highly reproducible behaviours. We have a lot of pre-conceived notions about how things should work like the way they have ever been working from the time of conception. As a result, organizations continue to do as they’ve always done, even when it seems irrational to do so. It is just like the honeymoon period, where you are in an “uninformed optimism” based on insufficient

data. Later, chances are that we move on into “informed pessimism” where you start to realize that while the overall decision may have been a good one, there are significant costs that they did not expect. Similarly, in organizations, as a pragmatic manager, it could be really a tough decision to withstand change. Shortsighted management is often rooted in stubbornness. We have seen many companies simply resisting change. Like Bill Clinton rightly said, “The price of

July-August 2019

doing the same old thing is far higher than the price of change.â€? Kodak refused to change with the advent of digital cameras. When they ultimately decided to accept emerging technologies, they had fallen far behind the competition. When the market is booming, even companies who are dysfunctional tend to get good results. At a downturn, however, exposes operational inefficiencies and poor management practices lurking beneath the surface. Indeed, such challenging times are blessings in disguise and are opportunities to progress. The first thing any team should do then, is to, accept the need for change and gear up for it. If we can manage past this challenging phase of resistance, we positively can reach a â€œhopeful realismâ€? where solutions can be worked

July-August 2019

out. This gives way to "informed optimism" - a sense that the change is achievable and that a great deal has been accomplished already. Finally, the change can be viewed as completed. Making such changes requires both the foresight to know that existing strategies are ill-suited for future opportunities and the discipline to enact fundamental shifts in corporate focus. Most of the times, CEOs and management find it difficult to implement the new company vision in order to transform the organization. Here, most importantly, the senior management should take up the courage to be transparent, communicate with them about efforts to improve the current state of business, reignite the emotional attachment with customers, and cascade

down the line the reason and need for organizational change to survive. Explaining to the employees the change phase plan is crucial and inevitable, so that they can optimise on the future opportunities. This will earn enough trust to communicate urgency across the organization. Every organization has its own culture. Some have a laid back one, some others a stress regimented one. Training becomes imperative for employees to understand, unlearn, relearn and perform as to the requirement. It is significant to identify areas where the employee is most passionate and competent, and figure out how to tailor his or her tasks to those areas. Change is inevitable for an organization. It has been ever demanding like a fast-paced time like today. Did you know

July-August 2019

that UPS started as a company that made deliveries by bicycle? More than 100 years later, it reaches across the globe. It’s the same with FedEx. From Starbucks, Nestle, Harley Davidson to British Airways, organizations across the world had found internal change inescapable to manifest success. Venture capitalist Paul Graham expressed an under-appreciated nugget of wisdom in his article on mistakes that kill startups. Unlike “winning an Olympic gold medal, where the problem is well defined”, building a successful company is actually “more like science, where you need to follow the trail wherever it leads.” PayPal founder Max Levchin, in an interview, reveals that PayPal was originally envisioned as a cryptography company, and then later as a means of transmit-

July-August 2019

ting money via PDAs. Only after several years of trial and error (and overcoming user fraud that almost destroyed the company) did PayPal find its sweet spot as the default online payment system of millions. For much of its early life, Google had no business model to speak of, until almost overnight it took a leap from popular search tool to Advertising juggernaut, AdWords. To this day, AdWords comprises the lion’s share of Google’s total revenue and profits. Not long ago, Apple was on the brink of fizzling out. From about 1993-1997, Apple found itself struggling to find a consistently profitable source of revenue, trying and failing to market everything from digital cameras to portable CD players to TV appliances. Finally, in 1997, Jobs returned as CEO and instituted a bold change of direction- began to

focus once more on creating beautiful consumer electronics, starting with the iMac in 1998. The iPod was an even bigger success, selling over 100 million units within six years of its 2001 launch according to the BBC. The iPhone, another smash hit, recently produced a 100% yearover-year rise in sales according to CNN Money. None of this would have been possible without a drastic change in business models. Today's business environment requires companies to undergo changes almost consistently and constantly if they are to remain competitive. Business strategies and the imperative decision to change were never incidental footnotes within organizations. The sooner you find there is a need for change and decide to adapt, the better growth that awaits you. Change!

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July-August 2019

COOKERY

Toshma Biju

Fluffy Pancakes Ingredients

• • • • • • • • •

All purpose flour - 2 cups Granulated sugar - 1/4 cup Baking powder - 4 teaspoons Baking soda - 1/4 teaspoon Salt - a pinch Milk - 1 1/2 cups Melted butter - 1/4 cup Vanilla extract - 2 teaspoons Egg - 1 large

July-August 2019

Method

Combine together the flour, sugar, baking powder, baking soda and salt in a bowl, and add the milk, slightly cooled melted butter, vanilla and egg. Use a wire whisk to whisk the wet ingredients together first before slowly folding them into the dry ingredients. Mix together until smooth. Set the batter aside and allow to rest while heating up your pan or griddle. Heat a non-stick pan or griddle over low-medium heat and wipe over with a little butter to lightly grease pan. Pour ¼ cup of batter onto the pan and spread out gently into a round shape with the back of your ladle or measuring cup. When the underside is golden and bubbles begin to appear on the surface, flip with a spatula, and cook until golden. Repeat with remaining batter.

Chocolate Chip Pancakes Ingredients

• • • • • • • •

Eggs - 2 nos (large) Whole milk - 1 1/4 cups Melted butter - 4 tablespoons Salt - 1/4 teaspoon Flour - 1 3/4 cups Baking powder - 2 teaspoons Sugar - 1 tablespoon Chocolate chips - 1/2 cup

Method

In a bowl, whisk together all your dry ingredients. In a separate bowl, whisk together all of the wet ingredients until the egg is broken up. Add the wet ingredients to the dry ingredients and add the chocolate chips. Gently stir until you stop seeing flour. Be careful not to overmix, that will make the batter tough. Leave a few lumps for tender pancakes. Place a large non-stick pan over a medium-high flame and let the surface get hot. It's hot enough when you sprinkle a few droplets of water over the surface and they evaporate. Moisten a paper towel with vegetable oil and lightly wipe the bottom of the pan. This will keep the pancakes from sticking. For each pancake, gently pour 1/2 cup of batter into the pan, using a ladle or a measuring cup. Use the back of a spoon to spread the batter into a circle. Bubbles will form in the batter. When they begin to pop, the pancakes are ready to be flipped. Turn over gently with the spatula and cook for about one minute on the flip side.

July-August 2019

Easy Banana Pancakes Ingredients

• • • • • • • • •

All purpose flour - 1/2 cup Granulated sugar - 1 1/2 teaspoons Baking powder - 1 teaspoon Salt - 1/8 teaspoon Ripe banana – 1 nos Egg - 1 nos (large) Milk - 2-3 tablespoons Butter - 1 tablespoon (melted) Vanilla - 1/2 teaspoon

July-August 2019

Method

In a bowl, whisk together flour, sugar, baking powder and salt. In another bowl, use a fork or potato masher to mash peeled banana very well. Add egg, 2 tablespoons of the milk, oil, and vanilla, and mix until well-combined. Add flour mixture and use a spoon to stir until just combined. If batter seems too thick, add up to 1 tablespoon more milk. Heat a griddle to 350°F or a skillet over medium heat. Once cooking surface is hot, lightly grease with butter or cooking spray and add pancake batter using a 1/3 cup. Cook on first side until the tops of the pancakes begin to bubble. Flip and cook until cooked through.

Chocolate Cake Ingredients

• • • • • • • •

Butter - 175grams Caster sugar - 175 grams Eggs - 3 large Flour - 150 grams Cocoa powder - 50g Baking powder - 1teaspoon Vanilla extract - 1teaspoon A pinch of salt Chocolate Icing: • Dark chocolate - 100 grams • Chopped butter - 100 grams

Method

Heat the oven to 180°C. Lightly grease an 18cm (7inch) round cake tin with a little extra butter or margarine and cut a piece of greaseproof paper or non-stick baking parchment to fix the base of the tin. Put all of the ingredients in a large mixing bowl and beat with a wooden spoon or a hand-held mixer for 1 minute, or until it combines. It's important, not to beat the batter too much. Pour or spoon the mixture into the tin, and smooth the top, then bake it on the middle shelf of the oven for about 45-50 minutes. The cake should be cooked until it looks well risen and golden. The top of the cake should spring back when it is lightly touched with a fingertip. Another test is to insert a skewer into the centre of the cake - it should come out clean. Let the cake sit in the tin for 5 minutes, then gently run a knife around the edge and turn the cake out onto a wire rack to cool. For the icing, place the dark chocolate and chopped butter in a heatproof bowl and set over a saucepan of very hot water until melted. Cool for 15 minutes, and then spread over the top of the cooled cake.

July-August 2019

Apple Cake

Ingredients

• • • • • • • • • • • •

Flour - 3 cups Sugar - 2 cups Salt - 1 teaspoon Baking soda - 1 teaspoon Vegetable oil - 1 1/4 cups Vanilla extract - 2 teaspoons Eggs (beaten) - 3 Apples (peeled and chopped) - 3 1/2 cups Chopped walnuts - 1 cup Brown sugar - 1 1/4 cups Milk - 1/3 cup Butter - 1/2 cup

July-August 2019

Method

Preheat the oven to 350 degrees. Grease and flour a pan. In a large bowl, sift together flour, sugar, salt, and baking soda. Make a well in the center and add oil, eggs, and vanilla. Mix well (batter will be thick). Fold in chopped apples and nuts. Spread the batter into the prepared pan. Bake in the preheated oven until a toothpick inserted into cake comes out clean, 40 to 50 minutes. Glaze the cake while it is still hot. To make the glaze: In a saucepan, combine brown sugar, milk, and butter. Bring to a boil and continue cooking for 2 1/2 minutes, stirring constantly. Pour over cake while it is still hot.

BEAUTY

Skin Care Tips for Monsoon

onsoon is here. It is one of the most joyful seasons Kerala experiences. Nothing can give more happiness than murmuring sound of rain. And, the visual beauty of this nature’s gift is beyond describable. Everyone loves this magical experience. Don’t you think so? Let’s come back to our topic. You need to take good care of your skin during monsoon as this season may do harm to your skin if you leave your skin unattended. In this edition, we try to explore this topic, and suggest some sensible tips to protect your skin during monsoon.

The magic of water We see water everywhere during monsoon, but we often forget to use that magical liquid properly. It is important to wash your face thoroughly at least twice a day. That should be strictly followed during monsoon also. More importantly, it is essential to make sure that you do not forget to adhere to your daily water intake target during this season. Usually, during monsoon, we don’t feel like

drinking water. But, it doesn’t matter whether you feel or not. You should drink at least ten glasses of water a day.

Vegetables and Fruits are the Best There are many vegetables and fruits which are only available during monsoon. If you miss the opportunity, you may have to wait for another monsoon to come to try those. Most of the monsoon fruits and vegetables are the good source of the vitamins and minerals we need during that season. Those are actually designed in that way by nature itself. There is a saying that no one other than nature knows better what her children want. So, don’t forget to try all monsoon fruits and vegetables available in your local area during this season.

Let your skin breathe a little It is not necessary that you should fill your face with makeup always to make you look attractive and beautiful. It is your lack of confidence in you that pull

Dr. Elizabath Chacko, MD-Kalpana International

Mob: 9388618112

July-August 2019

you towards your makeup kit every now and then. In that sense, you are not applying makeup on your face, but on your mind – specifically, the part that deals with your confidence level. Monsoon is the best time to reduce your unnecessary reliance on your makeup kit. Let’s take a pledge this monsoon that we will try our best to distance ourselves from our makeup kits this season. Actually, it may do wonders on your skin. Don’t forget that your skin also need some space to breathe.

Don’t throw away your sunscreen Most of us are not aware that sunscreen is not something which should be limited to a particular season, called summer, but is to be used all through the year – even during monsoon. Gloomy sky, cool temperature and continues rainfall do not mean that the sun does not function in a monsoon day and it does not emit UV rays on that day. Actually, nothing can stop the sun from emitting UV rays and nothing can stop that rays from reaching the earth. What happens in a monsoon day is that we do not feel we are attacked by the rays emitted by the sun. So, you should not shy away from applying sunscreen during monsoon.

Enjoy Monsoon! Stay Healthy!

July-August 2019

TRAVELOGUE

Penang: The Pearl of the Orient

July-August 2019

alaysia is a very beautiful country. It has a well-developed tourism sector. It attracts tens of thousands of travellers every year. Its tourism sector has been consistently growing for last few decades. The growth is owned to the extra-ordinary attention the Malaysian government gives to this sector, which helps them earn a significant amount of money every year. In this edition, one of the beautiful tourist attractions of this country is explored. That is none other than Penang, which is nicknamed as the Pearl of the Orient.

From its colonial history to its present

The modern history of the city started when Captain Francis Light from the British Empire established

George Town in the region in the year 1786. It later became a part of the Straits Settlements of the empire. It was in the year 1867 that the city was recognised as a proper British crown colony. No serious challenges were faced by the colonial British, except the intrusion of the Japanese forces during the World War Two period. In those days, the region went under the direct control of Japan. However, later, it was regained by the colonial British, after the end of its war with the axis powers. In the year 1957, along with many other countries in that part of the world, Penang won its independence. And, shortly after that, it merged with the, then, Federation of Malaya â€“ now, Malaysia. Penang is now the integral part of Malaysia. The region, popularly known as the Silicon Valley of the East, contributes heavily to the economy of this country. The eco-

July-August 2019

nomic giant enjoys the highest Gross Domestic Product per capita among all states in the country. Not only is it popular for its GDP per capita, but also it is renowned for its Human Development Index. Its health and education infrastructure is highly developed, compared to the rest of the country. Notably, its youth literacy rate is a bit shorter than 100 per cent (that is, around 99.5 per cent).

The heterogeneous Penangite

Its unity in diversity is the message that Penang gives to the world. Penang is a heterogeneous society. It has a highly diverse culture, religion, ethnicity and language. Chinese, Indians and Malays constitute the three main races in this region. It

also contains a significant number of Eurasians. What makes the region different is that unlike many other regions across the world the differences do not bother Penangites too much. In fact, the best part is that they do not see any difference among them.

A trip to Penang

Beautiful beaches, attractive archaeological sites, exceptional heritage sites, vibrant cities, magnificent gardens, rejuvenating religious sites, spectacular shopping malls and eye-catching markets are what bring tourists towards this land. Tanjung Bungah, Penang Hill, Snake Temple, George Town, and Tropical Spice Plantation are the main attractions in the country. Tanjung Bungah is

Tanjung Bungah is known for its beaches and beach resorts. There are several beautiful beaches, both small and large, in this region.

July-August 2019

known for its beaches and beach resorts. There are several beautiful beaches, both small and large, in this region. The city is a home to a large number of expatriates. At least 5.7 per cent of the total population of the city are expatriates. Travellers come to this city mostly to experience the vibe of the modern costal settlement. Penang Hill is the former retreat of the Colonial British. Now, it is the most popular tourist destination in Penang. The hill resort in this destination attracts numerous travellers each year. It is the best place to experience true natural beauty in the country. The hills are abundantly blessed with the gifts of nature. Unlike many other hill stations in the world, this is perfectly connected with the help of railway. The Penang Hill Railway connects this destination to the rest of the country. Snake Temple is a perfect destination for spiritual minds. The temple is a Buddhist spiritual centre dedicated for Buddhist monk Chor Soo Kong. It is an early 19th century building. Devotees from as far away as Taiwan, Singapore and, even, China visit this temple. Special rituals are there in the temple on the

July-August 2019

birth anniversary of the monk. On that day, usually, the temple witnesses more visitors than usual. It is the architectural beauty that attacks travellers to this temple, apart from its spiritual element. George Town is the capital city of Penang. It is best place to experience the vibe of modernity. It is the most developed city in the region. It is the centre of all business activities in this part of the country. It has several archaeological sites which highlight the richness of the culture of Penang. The city is also popular for medical tourism. Another element that makes this city different is its street food culture. The city offers a wide variety of street food items. It is best place to experience the food culture of the region. Tropical Spice Garden is like a hidden beauty. It represents the real Penang (that is the real beauty that lies underneath the dark shade of modernity). At least 500 plant species are found in this garden. Garden tour is the most exciting activity that can be done here. Apart from the garden tour, the garden offers night walk and other interesting activities related to that. Here, there are opportunity to learn a bit deep about the art of cooking and to understand the indigenous food items and their preparations. It is a beautiful place to spend your next vacation. Plan your trip today itselfď€˝

July-August 2019

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AUTO REVIEW

Vivek Venugopal is one of India’s top automotivewriterswithover a decade’s experience in road-testing and reviewing cars. He is currently the Editor of Quarter Mile magazine and a columnist in several leading magazines and newspapers. He is also a highly sought after consulting engineer and market analyst for many automobile manufacturers.

here had been confirmed warnings for a long time that a Chinese invasion was underway and the Indians better be prepared for it. We saw it in the consumer electronics industry especially in the smartphone sector, where a number of the leading players are now Chinese. For cars, it’s now starting with the Hector and for what looks like a very intense battle, they seem to be carrying the right artillery. Don’t worry though; because as a customer, you would only benefit from it. Here’s the headline - the Hector is a very big, comfortable car, with loads of equipment and decent engines, at a very tempting price. Now, MG or Morris Garages may sound British, but it is only branded that way for a better connect with the Indian customers. The Hector is in fact the Baojun 530 sold by SAIC Motors in China. SAIC Motors who owns the MG brand, is the biggest car manufacturer in China – kind of like what Maruti is to India – only a lot bigger. China is a very big automotive market where the annual production exceeds that of the European

July-August 2019

Union or that of the United States and Japan combined. The Hector is a handsome car when viewed from the front. The front grill is massive and imposing, and there are slim DRLs extending to its edges. The headlamps are placed further lower in the bumper, as is the trend with most modern designs, and have beautiful detailing inside them. There are chrome details around and it makes the car look expensive. It is when you get to the sides that you wish they had done a better job. The wheels, though they are 17 inches, look too small for the rest of the car. There isn’t much you can do about the smaller wheel arches either, and those make it look more MUV than SUV. The rear quarter glass and windscreen are pinched to make them look sleeker. The tail light that runs across the full width of the car and the rear valance on the bumper’s diffuser area are overdone details. The fit and finish leaves a lot of improvement with misfit panels, uneven panel gaps etc all visible across the car. Whether you like the styling or not, there is no escaping the sheer size of the Hector which measures

4655mm in length, 1835mm in width and standing 1760mm tall. You will be pleasantly surprised by the interiors that are built like those of modern upmarket SUVs, once you get inside a Hector. There is a massive 10.4 inch touch screen taking centre stage here like in a Tesla or a Volvo. If you haven’t already noticed the ‘Internet Inside’ badging on the left fender (on the tailgate for the diesel version), this is what it is all about. You can greet the car, by saying “Hello MG” and it will respond to your commands. You can ask it to play the music, set the sat-nav or

the temperature or open/close the driver side window or sunroof. It will even play videos off gaana and other apps. You can also control some of the car’s functions via a mobile phone, locate the car or check the status from any part of the world. The touchscreen is a bit laggy and we prefer dedicated controls for everyday functions. The Hector gets Cruise Control, 360 degree camera, TomTom Navigation, Embedded SIM, a full panoramic roof, automatic headlamps, automatic wipers, heated ORVMs, keyless entry, tyre pressure monitoring, electric tailgate, mood light-

July-August 2019

ing, six airbags, ESP, ABS etc. It is a long list, but surprisingly wireless charging isn’t present although the USBs are of the fast charging variety. Both front seats are electrically adjustable, but the passenger seat on the petrol hybrid variant isn’t, because of the presence of the battery pack underneath. Cabin quality in general is okay, but the plastics are somewhat mediocre. Some of the trim are ill fitting and the quality of artificial leather is quite basic. The meter console has yet another large screen integrated into it, but the reverse sweeping tachometer with its cramped redline markings till 8000rpm look distasteful, especially when you consider that both engines don’t rev that much. The front seats are large and spacious but the lower

July-August 2019

back support isn’t well judged. You get good visibility and the ergonomics are okay. But, the wide rear seat is the place to be in, in the Hector. It is one of the most comfortable rear seat experiences at that price point, with the best in class legroom, headroom and a ‘reclinable’ back rest adding to the overall comfort. The boot space is very good too at 587 litres and the rear seats fold 60:40 for additional practicality. Powering the Hector is a 1.5 litre turbo petrol and a 2.0 litre diesel engine. The Hector also comes in an automatic variant for the petrol, which we are yet to sample. The petrol engine makes 143bhp and 250Nm and uses a 48V system for Hybrid. MG claims the starter motor, which doubles up as the charger for

the battery pack, provides as much as 20Nm to the powertrain when needed. The engine is very refined and easy to drive. It has a light clutch and there is a hint of turbo lag before it starts pulling properly. Once on the move, drivability is decent although there is a spike around 3800rpm. It is when we got to the steep inclines of Coonoor where we did the drive that the engine felt strained, needing a few extra downshifts to keep it going. Interestingly, the diesel engine in the Hector is also the one that powers its competitors – the Compass and the Harrier. It has 170bhp and 350Nm like the Compass, but has been tuned to be more progressive. Yes, there is some turbo lag, but the sudden burst of power you feel in

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1,230

GCDA Shopping Complex Marine Drive, Ernakulam, Cochinâ€“682031 +91 918 8522811, +91 918 8522812 +91 484 4305008, +91 484 4305009 Email : info@neotourex.com | Website : www.neotourex.com

With ex.showroom prices ranging around Rs.12.18 to 16.88 lakhs, the Hector is fantastic value for money. It is spacious, comfortable, feature packed and has good engines to choose from. It also comes with 5 years unlimited kilometre warranty and MG claims the ownership costs will be the lowest in its class.

the Compass is not there. Like the Compass, it has a snappy clutch and you will stall it a few times initially. It is also on the heavier side and the tall gearing means you have to downshift more often than needed in the inclines too. It is a good relaxed cruiser on the highway and once on the move is very refined too. The Hector isnâ€™t a car you enjoy driving fast. The steering is vague, there is a huge amount of body roll and the narrow 215/60 R17 tyres run out of grip rather easily. The car understeers when pushed and

July-August 2019

it is easy to lose composure when you encounter a mid-corner bump. The steering is light enough for city use. The brakes which are discs all around, have good stopping power. Where it excels though, is the ride quality which when cruising is excellent. The Hector is best enjoyed when driven slowly, soaking up the scenery especially from the back seat where you take advantage of the full panoramic sunroof. With ex.showroom prices ranging around Rs.12.18 to 16.88 lakhs, the Hector is fantastic value for

money. It is spacious, comfortable, feature packed and has good engines to choose from. It also comes with 5 years unlimited kilometre warranty and MG claims the ownership costs will be the lowest in its class. They have also introduced attractive maintenance packages to take care of the car for five years. The value proposition as with any Chinese product is huge and that alone can make most customers gloss over most of the pitfalls. If the success of the Chinese smart phones is anything to go by, this is only the startď€˝

MOVIE REVIEW

Super 30

t is an interesting movie directed by award-winning filmmaker Vikas Bahl. The film revolves around mathematician Anand Kumar, who is the central character. The role is played by Bollywood superstar Hrithik Roshan. The film tells how the brilliant mathematician helps a bunch of talented, but underprivileged, students to win a seat in the countryâ€™s most prestigious educational institution, the Indian Institute of Technology. Apart from the brilliant dancer, Mrunal Thakur, Pankaj Tripathi, Ritwik Sahore and Nandish Singh appear in the lead roles. The film is expected to be entirely different from the films that the hero has done so far in his film career.

Malaal

t is a romantic film directed by filmmaker-cum-writer Mangesh Hadawale. The film explores the unexplainable feeling of love. It uses two interesting characters to perform its task. It reveals a different dimension of love, the area where not many experiments have been done. For that reason, the film is as fresh as mist. Sharmin Segal, Meezaan Jaffrey and Sameer Dharmadhikari act in the lead roles. None of them are experienced actors. But, their performance, in anyway, is not less than an experienced actor. The film has so far received not many negative reviews. It has the potential to become the most beautiful romantic movie of the year.

July-August 2019

Spider-Man: Far From Home

t is a superhero movie or a fantasy movie directed by acclaimed American filmmaker-cum-screenwriter Jon Watts. Unlike other Spider-Man movies, this one is well balanced. The best part is that it has several brilliant comic sequences, as well as several extra-ordinary action sequences. The story part is not that fresh. It is much like a typical superhero movieâ€™s story. Tom Holland appears as Spider-Man. Apart from Mr Holland, Jake Gyllenhaal, Zendaya, Jacob Batalon and Samuel L Jackson act in the lead roles. It has received several positive reviews. A sum of 16 crores USD is invested in this exceptional film.

Annabelle Comes Home

t is a horror movie directed by experienced American screenwritercum-filmmaker Gary Dauberman. It is the latest film from the acclaimed Annabelle series, which has brought out several exceptional horror movies in the past. The daughter of paranormal investigator couples Ed and Lorraine Warren, her friends and their young baby sitter are the main characters of the movie. They are the ones who are hunted by the possessed doll of Annabelle. It happens when the couple locks the doll in a room in their house where these characters live. There are several extremely frightening horror sequences in the movie. Mckenna Grace, Vera Farmiga, Patrick Wilson and Madison Iseman act in the lead roles.

July-August 2019

BOOK REVIEW

Caste Matters Author Price

: Suraj Yengde : Rs. 599 (Hardcover)

he book discusses one of the most sensitive subjects concerning the Indian society, caste. In the book, the issue is addressed through the point of view of a first generation Dalit scholar. Unlike many other books deal with the same matter, in this book, the matter of the divisions inside the Dalit community in the country is also discussed in details, along with many other sensitive, but common, matters concerning the community. Notably, the book does not simple blame the society alone for the miseries and discrimination the community face. The book suggests that until the community unites and strongly places its claim to power the caste question will remain as strong as and as loud as it is now.

The Future of Capitalism: Facing the New Anxieties Author Price

: Paul Collier : Rs. 1,671 (Hardcover)

he proposed exist of the United Kingdome from the Europe Union, the rise of Donald Trump in the United States, and the re-emergence of far-rightist elements in Germany are some of the many indications that global capitalism is in great danger at the moment. The book discusses this topic in details. It gives a clear picture about many subjects closely connected to this topic. It is important to understand the topic clearly to address the issue correctly. The book is a best guide to understand the problems surrounding capitalism and to arrive at a right conclusion on how to overcome these problems rightly.

July-August 2019

BOOK REVIEW

Parliamental Author Price

: Meghnad S : Rs. 239 (Paperback)

his beautiful book is a satire on Indian politics. It is the fictional story of a first-time Member of the Indian Parliament and his secretary. How does it feel like getting into the Indian parliament for the first time? Most of us love to hear the answer of that question. It is because not many are blessed with the privilege of becoming a Member of the Parliament. For many like us, the parliament is a mysterious world. The book takes us into this exceptional world along with the two central characters, and slowly unveils the entire secret world to us through their eyes.

Super Thinking Author Price

: Gabriel Weinberg, Lauren McCann : Rs. 1, 538 (Hardcover)

ecision making is an important skill. It is not only relevant in business, but also important in all other areas â€“ even in personal life. The big question here is how this skill can be improved. Actually, there is an effective tool to improve decision making. It is mental model. There are several mental model methods available, from the bandwagon effect to the Eisenhower matrix. This book helps to understand some of the highly popular mental model methods and some of the lesser known, but highly effective, mental model methods. Importantly, each and every method is diluted to its simplest form in the book to make it easier for all to pick up the concepts easily.

July-August 2019

Printed On 09/ 07/ 2019

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