Wednesday, November 28, 2012

Corporate Law: Private Equity Law of India


Under corporate law, corporations of all sizes have separate legal personality, with limited liability or unlimited liability for its shareholders. Shareholders control the company through a board of directors which, in turn, typically delegates control of the corporation's day-to-day operations to a full-time executive.

Corporate Laws in India

In India, laws governing companies are mainly to be found in the Companies Act, 1956. Voluminous and containing 658 Sections, 15 Schedules and several Rules, the Companies Act, 1956 is modeled on the English Companies Act.

Any entrepreneur desirous of doing business in India has an option to form a Company, Private or Public with limited liability under the provisions of the Companies Act.

A Private Limited Company must have a minimum number of two and a maximum number of 50 shareholders whilst a Public Company needs a minimum number of seven shareholders with no upper limit. Before commencing any business, a Public Company is obliged to obtain a certificate from the Registrar of Companies, whilst a Private Company can commence its business and exercise borrowing powers immediately upon its incorporation. The shares of a private limited company are not freely transferable and it cannot offer its shares or debentures to public for subscription. However, there are major exemptions and privileges enjoyed by a Private Limited Company under the Companies Act, 1956.

Corporate Law firm of India

The Corporate Law Team of Lakshmikumaran&Sridharan advises multinational and Indian clients in various sectors like power, oil and gas, telecom, infrastructure, real estate, automobiles, pharmaceuticals, chemicals, electronics, insurance and information technology.

Private Equity Laws of India

Private Equity Law practice in India is unique due to the dynamics of Indian businesses. The Indian economy is driven by a large number of family owned and managed companies and a relatively high number of listed companies, all of which face lack of liquidity in the market despite having large available capital. This presents a unique opportunity for private equity in India for making financial and operational contribution. The nature of Indian companies and local laws and procedures entail a thorough and systematic strategy for investment and exit from companies. Several choices of investment are available to suit the individual requirements. These choices range from outright buyouts with the requisite restructuring and reorganization of the company, structured investments, support to established businesses for further growth in the form of capital funds and roll ups to ensure economies of scale are achieved. Each of these choices requires special expertise and experience in the Indian scenario.

Private Equity Law firm in India

The Private Equity Law team in Lakshmikumaran&Sridharan consists of experienced practitioners who have handled several private equity investments in India. Attorneys in Lakshmikumaran&Sridharan have set up fund and advised on the mode of investment as also provided support in the form of ongoing portfolio assistance and restructuring in this area. The team understands that the success of the transactions also depends heavily upon the quality of the due diligence and subsequent compliance with the law and its teams are highly trained to manage these activities.

Source: http://feedproxy.google.com/~r/editorchoice/~3/ekHlOKDFllk/Corporate-Law-Private-Equity-Law-of-India-bid-QVn2TCb552873843.html

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Ericsson Sues Samsung Over Wireless Patents

Ericsson is the latest to file a patent suit against Samsung after the?Swedish telecoms firm accused the Korean electronics giant of refusing to sign FRAND (Fair, Reasonable and Non-Discriminatory)?licensing agreements despite two years of negotiation.

Update: Samsung has issued a statement on the lawsuit, you can read it below.

?Ericsson has concluded that it has no option other than legal action after negotiations have not been successful since Samsung has refused to take a license on FRAND terms,??a company statement read.

The company says that the issue centers around one of its patented technologies that is ?essential?to several telecommunications and networking standards used by Samsung?s products?, in addition to other technologies that it claims are used in wireless and consumer electronics products.

FRAND licensing is typically used to license patents and technologies that have become essential, often for or as an industry standard. They are designed to stop monopolies, the idea being that a FRAND licensed technology can be offered to any company or group wanting to use it.

The growth of patent suits has added complication to FRAND licensing and Apple, for one, has reached out to industry bodies for greater clarification and change. In a letter to?the?European Telecommunications Standards Institute?(ETSI) in February, it is?said to have proposed suggestions to set royalty rates that all members of the ETSI would follow, in response to cases where inflated and unreasonable terms and prices have been proposed by patent owners.

Samsung was on the receiving end of a landmark decision when a US court decision handed it a fine of more than $1 billion?after?Apple won a key U.S. patent case. The Cupertino firm itself suffered a significant recent loss and $368 million fine as patent specialist VirtnetX won a Texas case against it, but Apple did end its ongoing feud with HTC as the two signed a 10-year licensing agreement this month.

Samsung told media it has no intention of striking a similar deal, despite the threat of US sales injunctions looming. Now it has one further case to concern itself with.

Update: Samsung has responded with the following statement:

?Samsung and Ericsson have previously negotiated and entered licensing deals. Now that the deal has to be renewed, we have faithfully committed ourselves to conducting fair and reasonable negotiations with Ericsson over the past two years, but this time Ericsson has demanded prohibitively higher royalty rates for the same patent portfolio.

?As we cannot accept such extreme demands, we will take all necessary legal measures to protect against Ericsson?s excessive claims.?

Headline image via?JONATHAN NACKSTRAND/AFP/Getty Images

Source: http://thenextweb.com/mobile/2012/11/27/ericsson-sues-samsung-over-wireless-patents-after-growing-frustrated-by-2-years-of-negotiation/

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Saturday, November 24, 2012

#10: Nikon D600 24.3 MP CMOS FX-Format Digital SLR Camera ...

Nikon D600 24.3 MP CMOS FX-Format Digital SLR Camera (Body Only) by Nikon (115) Date first available at Amazon.com: September 11, 2012 Buy new: $2,099.95 $1,996.95 29 used & new from $1,100.50 (Visit the Hot New Releases in Digital Cameras list for authoritative information on this product?s current rank.)

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Source: http://www.wiki-products.com/10-nikon-d600-243-mp-cmos-fx-format-digital-slr-camera-body-only/

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Does Texas Have an Answer to Sky-High Tuition?

Texas is experimenting with an initiative to help students and families struggling with sky-high college costs: a bachelor's degree for $10,000,?including tuition fees and even textbooks. Under a plan he unveiled in 2011, Republican Gov. Rick Perry has called on institutions in his state to develop options for low-cost undergraduate degrees. The idea was greeted with skepticism at first, but lately, it seems to be gaining traction. If it yields success, it could prompt other states to explore similar, more-innovative ways to cut the cost of education.

Limiting the price tag for a degree to $10,000 is no easy feat. In the 2012-13 academic year, the average annual cost of tuition?in Texas at a public four-year institution was $8,354, just slightly lower than the national average of $8,655. The high costs are saddling students with huge debt burdens. Nationally, 57 percent of students who earned bachelor?s degrees in 2011 from public four-year colleges graduated with debt, and the average debt per borrower was $23,800?up from $20,100 a decade earlier. By Sept. 30, 2011, 9.1 percent of borrowers who entered repayment in 2009-10?defaulted on their federal student loans, the highest default rate since 1996.

In the Lone Star State, 10 institutions have so far responded to the governor?s call with unique approaches, ranging from a five-year general-degree pipeline that combines high school, community college, and four-year university credits to a program that relies on competency-based assessments to enable students to complete a degree in organizational leadership in as little as 18 months.??

At Angelo State University, admissions will begin in January for a four-year interdisciplinary-studies program through which students can combine three separate minors into one bachelor?s degree for an overall cost of $9,974. ASU President Joseph Rallo envisions the program as the perfect fit for an adult who is interested in broadening his skills in order to advance his career, not necessarily a student looking for the traditional college experience.

?The profile that we aim the degree for is the adult student who is interested in a broad degree and at the same time a degree that would be academically rigorous,? Rallo said, adding that students must have an ACT score of 27 or above to enter the program and maintain at least a 3.0 grade-point average to continue.

At the University of Texas (Arlington), the university teamed up with Tarrant County community colleges and school districts to create a program that would allow students to obtain a degree in any field for less than $10,000. Students in their junior and senior years of high school will complete dual credit programs already provided by their school districts in order to earn some college credit. The students will go on to spend about a year at community college before finishing their degree at UT Arlington.

?This program would appeal to the most dedicated, focused students who know from high school that they are willing to work hard to maximize their college investments,? said Kristin Sullivan, assistant vice president for media relations at UT Arlington. ?

Catherine Frazier, press secretary for Gov. Perry, said the plan aims to make college ?a reasonable goal for all Texans? and will help hold higher-education institutions accountable for reining in costs.

Critics doubt that the initiative will help institutions trim their own costs in providing an education, however.?Experts worry that reaching the $10,000 goal involves a scholarship process for students and not real savings for the schools themselves?in overhead and instruction.

?I question an artificially set benchmark of $10,000,? said Daniel Hurley, director of state relations and policy analysis at the American Association of State Colleges and Universities, adding that the discussion of actually containing the costs of education for the institution is ?often missing? from such initiatives.

Indeed, officials acknowledge that most of these programs would only reduce the price tag for the student, not the cost to the institution of providing the degree. While?select?students might pay less overall, institutions must deliver the same faculty, facilities, time, and knowledge they provide to students paying full price for their degrees.

?I would not frame this $10,000 degree challenge as a cost-efficiency measure for higher education,? said Dom Chavez, director of the Texas Higher Education Coordination Board. ?It?s a cost-efficiency measure for students and parents.?

Chavez added that as online learning gains traction and competency-based assessments get students out of the classroom more quickly, officials may begin to bend the cost curve in higher education. But he acknowledged that ?we may never get there.?

Hurley also questioned the quality and marketplace credibility of such a comparatively cheap degree. He pointed to the public perception that a high-quality education is a financial investment, and expressed concerns that potential employers might look at a $10,000 degree as a second-rate education.

?I think that the universities would really have to go out of their way and their graduates would really have to go out of their way to clearly communicate to the employer community that the quality of the degree? is not?compromised, Hurley said, adding that employers recognize that ?you get what you pay for.?

But some argue that a college degree is no longer worth as much as it?once was. A May 2012 study from the?Pew Research Center?showed that 57 percent of Americans say colleges fail to provide students with good value for money spent, and 75 percent say college is too expensive for most Americans to afford.?Another recent study that surveyed traditional college students across the country found that after four full years of college, 36 percent of students showed little to no increase in critical-thinking skills.

While the Pew study also pointed out that, despite cost concerns, graduates do see a payoff?adults with degrees believe they earn $20,000 a year more because of it, and 86 percent say their schooling has been a good investment?Thomas Lindsay, director of the Texas Public Policy Foundation?s Center for Higher Education, emphasized that a degree does not go as far in today?s job market.

?I think the market has decided, and parents and students have decided, that a college degree is for the most part overvalued,? Lindsay said. ?What we?re getting both in terms of job skills and learning, what you?re giving us isn?t worth more than $10,000.?

The approach that could gain the most traction is one geared toward graduating students with degrees that meet specific needs in the regional labor market. Texas A&M University (San Antonio), for instance, this fall began offering a bachelor?s degree in information technology with an emphasis on information security for just $10,026. Students who achieve this degree will graduate into the San Antonio region?s booming military and homeland-security industry.

Such degrees are ?highly aligned with regional state workforce needs,? Chavez said, adding that education officials try to identify key components of the regional market and tailor their programs toward employers? needs. This way, students who graduate from these programs are more likely to get a?local?job in a field relevant to their degree.

But if universities do not implement significant cost-efficiency measures, these types of programs may not be sustainable in the long run, according to the College Board?s Jennifer Ma. Despite a push by several states' governors?including Perry and Florida Gov. Rick Scott?to freeze in-state tuition rates, if state appropriations for education decrease, universities must hike costs to cover the budget gap.

Instead, experts say, states should focus on getting more students to complete their degrees in a timely fashion. Perry has proposed an appropriations process called outcomes-based funding, which ties 10 percent of an institution?s state funding for undergraduate education to the number of degrees it awards. Currently, less than 30 percent of students at four-year Texas institutions graduate in four years.

As for the $10,000 degree initiative, the push ?has spurred continued innovation, I would say, more in terms of program delivery ? rather than how can we simply cut costs at every corner,? Hurley said, adding that after seeing Texas?s success, other states may begin looking at new ways to offer students a college education. ?From that perspective, I think that time will tell, but [Perry?s] call could spur some new ways of delivering college degrees and credentials.?

Source: http://news.yahoo.com/does-texas-answer-sky-high-tuition-060005341--politics.html

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Unapologetic Sweat - BODYROCK.tv | Fitness Advice, Workout ...

Hi Bodyrockers,

We all go through dip?s where we lose our Mo-Jo & it?s at this time that we need someone to just give us a kick up the ass.

Well this is that moment if you re looking for it. It?s time to get into your favourite work-out gear, turn up your favourite workout song & Press PLAY on the Video below and smash out 2 rounds. Take no prisoners, sweat through each exercise & feel the rush of adrenaline as you HIIT the finish line stronger & more empowered in just 12 Mins.

Think this is impossible ? Take the challenge, If you have never tried a BodyRock Workout, Give this one a go and share you comments & scores below.

These workouts are designed around one simple goal- to create The Best Home Workout?s Online for free. All you have to do is check in with us everyday & get your daily Ass Kicked & Adrenaline pumping :)

This workout kick started my Mo-Jo this morning & pushed me outside of my comfort zone at the same time ? I hope you enjoy it as much as I did.

ps, I would like to give a shout out to Aaron ? thank-u for kicking my ass & pushing me out of my comfort zone.

L xx

Todays Sweat Video:

Workout Break Down:

Set your?interval timer to 50 seconds work 10 seconds break. ?You will go through these exercises 2 times ? Or if you want to smash it out as a couplet workout? then set your timers for 3 rounds of each couplet ( 2 exercises ) & then move on :).

1. Reverse Shoulder Sequence Power Blocks

2. Deadlift + Row Using the Pink?Sandbag

3. Plank Push Up

4. Circle Chest Press Power Blocks

5. Single Arm Press Power Blocks

6. Mountain Climber Pike Jump

.

Video Tutorial & Question:

.

Friend Your Trainers on Facebook:

BodyRock Main Facebook?Here

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Time: 12 MinWorkout Type: body weightExercises: 1

Could Testing Block Psychopaths From Senior Management?

Freshly Exhumed writes "Dr. Clive Boddy believes that increasingly fluid corporate career paths have helped psychopaths conceal their disruptive workplace behavior and ascend to previously unattainable levels of authority. Boddy points out psychopaths are primarily attracted to money, status and power, currently found in unparalleled abundance in the global banking sector. As if to prove the point, many of the world's money traders self identify as the "masters of the universe." Solution? Screening with psychological tests. Who would pay for it? The insurance industry." The tech world has plenty of company heads who've been called psychopaths, too ? but would you want to actually change that?

Source: http://rss.slashdot.org/~r/Slashdot/slashdotScience/~3/w7IKQ976NHE/story01.htm

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Thursday, November 22, 2012

California city building "tsunami-resistant" port

An Oct. 26, 2012 photo shows a large backhoe repairing damage caused by the March, 2011 tsunami at the boat basin in Crescent City, Calif. Once it overcomes some construction setbacks, the port hopes to have the West Coast's first harbor designed to withstand the kind of tsunami expected to hit every 50 years. (AP Photo/Jeff Barnard)

An Oct. 26, 2012 photo shows a large backhoe repairing damage caused by the March, 2011 tsunami at the boat basin in Crescent City, Calif. Once it overcomes some construction setbacks, the port hopes to have the West Coast's first harbor designed to withstand the kind of tsunami expected to hit every 50 years. (AP Photo/Jeff Barnard)

An Oct. 26, 2012 photo shows a large driling rig, at right, waiting for a custom drill bit to install bigger and stronger dock pilings to take the place of docks destroyed by the 2011 tsunami from Japan. Once it overcomes some construction delays, the port hopes to have the West Coast's first harbor designed to withstand the kind of tsunami expected to hit every 50 years. Due to the formation of the sea floor and the configuration of the harbor, Crescent City regularly takes the biggest hit of any port on the West Coast from tsunamis, whether they come from Chile, Alaska or Japan. (AP Photo/Jeff Barnard)

A March 12, 2011 photo shows sunken and damaged boats in the boat basin at Crescent City, Calif., after a powerful tsunami sent repeated surges that broke up docks and tore loose boats. After one tsunami after another over the decades, the port hopes that repairs under way will make the harbor able to withstand a similar tsunami in the future. (AP Photo/Jeff Barnard)

CRESCENT CITY, California (AP) ? It doesn't matter if the earth sways in Chile, Alaska or Japan, the formation of the sea floor along the U.S. West Coast generally aims any tsunami surges at the tiny California port town of Crescent City. Churning water rushes into the boat basin and then rushes out, lifting docks off their pilings, tearing boats loose and leaving the city's main economic engine looking as if it has been bombed.

That's what happened in March 2011, when a Japanese earthquake sparked a tsunami that sank 11 boats, damaged 47 others and destroyed two-thirds of the harbor's docks.

Port officials are hoping that tsunami is among the last of many that have forced major repairs in Crescent City, a tiny commercial fishing village on California's rugged northern coast. Officials are spending $54 million to build the West Coast's first harbor able to withstand the kind of tsunami expected to hit once every 50 years ? the same kind that hit in 2011, when the highest surge in the boat basin measured 8.1 feet (2.5 meters) and currents were estimated at 22 feet (6.7 meters) per second.

Officials are building 244 new steel pilings that will be 30 inches (76 centimeters) in diameter and 70 feet (21 meters) long. Thirty feet (9 meters) or more will be sunk into bedrock. The dock nearest the entrance will be 16 feet (5 meters) long and 8 feet (2.4 meters) deep to dampen incoming waves. The pilings will extend 18 feet (5.5 meters) above the water so that surges 7 ? feet (2.3 meters) up and 7 ? feet down will not rip docks loose.

Crescent City was not the only West Coast port slammed by the tsunami, which was generated by a magnitude-9.0 earthquake in Japan. The waves ripped apart docks and sank boats in Santa Cruz, California, and did similar damage in Brookings, Oregon, just north of Crescent City. But their geographical location doesn't make them as vulnerable to multiple tsunamis.

"Normally, Crescent City takes the hit for all of us," said Brookings harbormaster Ted Fitzgerald.

Since a tidal gauge was installed in the boat basin in 1934, this small port has been hit by 34 tsunamis, large and small. It typically suffers the most damage and the highest waves on the West Coast, said Lori Dengler, professor of geology at Humboldt State University.

The sea floor funnels surges into the mouth of Crescent City's harbor, and the harbor's configuration magnifies them, experts say.

A wave generated by an earthquake in Alaska on Good Friday, 1964, killed 11 people and wiped out 29 city blocks. That was 10 years before the boat basin was even built.

When the waves hit in 2011, the port was still repairing damages from a tsunami that hit in 2006. Officials already had a plan for dealing with future tsunamis, said Ward Stover, owner of Stover Engineering in Crescent City, which put together the plan.

With no tsunami building codes, Stover said the state of California and Crescent City decided to prepare for the kind of tsunami expected to hit every 50 years. They rejected as too expensive building a tidal gate to close off the mouth of the harbor or trying to survive a powerful tsunami like the one that hit in 1964. Instead, they planned to make the docks strong enough to ride out the most likely surges.

"It's tsunami-resistant, not tsunami-proof," Stover said.

Construction has been marked by one delay after another. Government funding was slow, and a custom-built drill bit for installing the extra-strength pilings deep in bedrock broke. So authorities switched to installing temporary docks the old-fashioned way, by pounding in the pilings, to get them through the winter. Many of the 60 commercial fishing boats based in Crescent City are still mooring in the outer harbor. Others have to make do without water or electricity.

The March 2011 tsunami was a wake-up call for communities up and down the West Coast. Many improved tsunami evacuation plans and held mock evacuations.

But some experts say the West Coast is still not taking the threat seriously enough.

"Many ports on the West Coast are in denial as to their tsunami hazard," said Costas Synolakis, professor of civil and environmental engineering and director of the Tsunami Research Center at the University of Southern California.

___

Jeff Barnard can be reached at https://twitter.com/JeffBarnardAP

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-11-22-Tsunami%20Repairs/id-8ce561a77ce44c8f942ab51173cfc398

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