Tuesday, July 18, 2017

12 Companies on the threshold of Insolvency


The Reserve Bank of India (RBI) last month asked creditor banks to begin insolvency proceedings against 12 of the country's biggest loan defaulters, and subsequently mandated that the banks would need to make provision for up to 50 percent of the amount of soured loans.

The 12 companies account for 1.78 trillion rupees ($27.7 billion) in non-performing bank loans, according to RBI data.

Banks had total non-performing loans of about 7.29 trillion rupees, or 5 percent of the gross domestic product, as of end-March.

India Ratings, an affiliate of Fitch Ratings, estimated the current average provisioning towards those 12 accounts at 42 percent, adding the extra provisioning needed would reduce the profits of creditor banks by about a quarter in the financial year to March 2018, and will need to make additional provisioning of at least 180 billion rupees ($2.8 billion).

Source - http://www.firstpost.com/business/banks-need-at-least-2-8-billion-extra-provisioning-for-bankruptcy-cases-india-ratings-3826585.html/amp

Friday, June 9, 2017

Lack of judicial reforms pulls down India's ranking - Times of India

A World Bank assessment on the performance of India on ease of doing business shows the largest democracy lags behind many of the sub-Saharan African countries and the east Asian nations in `enforcement of contract' largely due to the inefficient judicial system which has failed to keep up with the technological revolution that has changed the pace of the justice delivery across the world.

Giving the example of Rwanda, it says the African country has implemented the integrated electronic case management system across all courts which allows for an automatic registration of lawsuits, electronic organisation and scheduling of cases and automated claims processing. Many of the sub-Saharan African countries have done better than India, which has failed to implement crucial judicial reforms when it comes to implementing the electronic case management system. Some of the basic services such as summons are still being served using the antiquated practice. The law on adjournments is not followed in 50% of cases across courts while there is hardly any adherence to the timeline fixed for resolution of disputes, as per the findings.

An evaluation of the court structure and proceedings by the World Bank, while ranking countries on ease of doing business in its 2017 report, has painted a very grim picture for India compared to many of the sub-Saharan African countries that have done better by adopting a set of good practices, including case management, court automation and alternative dispute resolution--some of the parameters which resulted in India being ranked overall 130 among 190 countries.

The report refers to lack of electronic case management system for lawyers and judges in the courts dealing with commercial disputes in Delhi and Mumbai. There is no provision for pre-trial conference in these courts. "In addition, as the complaints cannot be filed electronically be fore the competent court and the documents cannot be served electronically , we were not given any points on that front," a government task force has observed on why India has been ranked so low in the World Bank's ease of doing business. In India, as far as commercial disputes are concerned, the complaint cannot be filed electronically in the absence of a platform within the competent court.It is not even possible to carry out service of process electronically for claims filed before the court. Only the court fees can be paid electronically and the judgments can be accessed online.

Source-
http://m.timesofindia.com/business/india-business/lack-of-judicial-reforms-pulls-down-indias-ranking/articleshow/59010558.cms

Thursday, May 25, 2017

Call for Papers for the One Day Workshop On Real Estate Regulatory Authority And Benami Law

Chair on Urban Poor and The Law along with the Environmental Law Clinic Of National Law School Of India University are organizing a One Day Workshop On Real Estate Regulatory Authority And Benami Law.

Who can attend?

Advocates, CREDAI, Management/ representatives of real estate organization, consultants working in real estate sector, contractors, builders, Architects, Academicians, Research scholar, law students, any others interested in the workshop.

Registration Details

The Registration fee for the Seminar is Rs. 1000/- for delegates and paper presenters, both author and co-author should pay. Registration will be confirmed only on receipt of payment.

Last Date For Registration is  5th June, 2017.

Both author and co-author to pay the registration fees.

Sub-themes

Economic Reforms and Real Estate Sector

Real estate and Urbanization

Pre and post impact of RERA

RERA and Benami transactions

Consumers/customers and RERA

Real Estate Agents

Unethical practices in the Real Estate Sector.

Submission Deadline

Last Date For Sending Abstracts : 5th June, 2017.

Submission Procedure

Abstracts of maximum 500 words to be sent in soft copy to baba@nls.ac.in

Contact

Dr. Sairam Bhat, Associate Professor of Law National Law School of India University, Bangalore

Email: bhatsairam@nls.ac.in

Source: NLSIU website

Tuesday, March 21, 2017

A silent Regular Blood donor .... Guess who?

40 ವರ್ಷಗಳಿಂದ ಪ್ರತಿ ಮೂರು ತಿಂಗಳಿಗೊಮ್ಮೆ ರಕ್ತದಾನ ಮಾಡುತ್ತಿರುವ ಸುಪ್ರೀಂಕೋರ್ಟ್ ಮುಖ್ಯನ್ಯಾಯಾಧೀಶರು..!

Since 40 years, every three months the Hon'ble Chief Justice of India has been donating blood.

ನಮ್ಮ ಸಮಾಜದಲ್ಲಿ ರಕ್ತದಾನ ಮಾಡುವವರ ಸಂಖ್ಯೆ ತುಂಬಾ ಕಡಿಮೆ ಎಂದು ಹೇಳಬಹುದು. ಯಾರಾದರೂ ತಮ್ಮ ಕುಟುಂಬ ಸದಸ್ಯರು, ಬಂಧುಗಳು, ಸ್ನೇಹಿತರಿಗೆ ಅವಶ್ಯಕತೆ ಇದ್ದರೆ ಮಾತ್ರ ರಕ್ತದಾನ ಮಾಡುತ್ತಾರೆ. ಯಾರೋ ಕೆಲವರು ಇದಕ್ಕೆ ಭಿನ್ನವಾಗಿ ಯೋಚಿಸುತ್ತಾರೆ. ಅಂತಹ ಕೆಲವರಲ್ಲಿ ಅವರು ಒಬ್ಬರು. ಆದರೆ ಅವರು ಸಾಧಾರಣ ವ್ಯಕ್ತಿಯಲ್ಲ. ಭಾರತದ ಸರ್ವೋಚ್ಚ ನ್ಯಾಯಾಲಯದ ಮುಖ್ಯ ನ್ಯಾಯಾಧೀಶ. ಅಂತಹ ಅತ್ಯುನ್ನತ ಪದವಿಯಲ್ಲಿದ್ದು ಸಹ ರಕ್ತದಾನ ಮಾಡುವುದನ್ನು ನಿಲ್ಲಿಸಿಲ್ಲ.

Not everyone in India willingly or of his own accord consents for blood donation, unless the life of a friend or relative is at stake.
But the Chief Justice of Supreme Court o India, has set an example for all of us.

ಎಷ್ಟೇ ಉನ್ನತ ಸ್ಥಾನದಲ್ಲಿದ್ದರೂ ಪ್ರತಿಯೊಬ‌್ಬರು ತಮ್ಮ ಕನಿಷ್ಠ ಸಾಮಾಜಿಕ ಜವಾಬ್ದಾರಿಯನ್ನು ಮರೆಯಬಾರದೆಂದು  Chief Justice ಜಗದೀಶ್ ಸಿಂಗ್ ಹೇಳುತ್ತಾರೆ.
He says everyone should have a Basic or Minimum sense of Social Responsibility irrespective of his position  or status in life.

ಇವರಿಗೆ ವಯಸ್ಸಾದರೂ ಸಹ ರಕ್ತದಾನ ಮಾಡುವುದನ್ನು ನಿಲ್ಲಿಸಿಲ್ಲ.  ಇವರನ್ನು ಎಲ್ಲರೂ ಆದರ್ಶವಾಗಿ ತೆಗೆದುಕೊಂಡರೆ ಎಷ್ಟೋ ಜನರ ಬದುಕಿನಲ್ಲಿ ಬೆಳಕು ತಂದವರಾಗುತ್ತವೆ.

Despite his age and attaining the highest Constitutional Position CJ Jagadish Singh Kehar has not stopped Blood Donation. He is a role model for everyone.

ಇನ್ನೊಂದು ವಿಷಯ… CJ ಜಗದೀಶ್ ಸಿಂಗ್ ಹಾಗೆ ರಕ್ತದಾನ ಮಾಡುವುದನ್ನು ಯಾರಿಗೂ ತಿಳಿಸಿರಲಿಲ್ಲ.

This fact came to light just recently when the CJ had been to AIIMS Delhi to donate blood as usual, and was not known in thepublic realm all these years.

Source - https://kannada.ap2tg.com/supreme-court-chief-justice-participating-in-blood-donations-from-40-years/