Regulations
Compulsory report on annual general meetings within 48 hours: SEBI
Market regulator SEBI on Wednesday said companies need to make disclosures to stock exchanges within 48 hours about the number of shareholders attending its annual general or special meeting as well as the mode of voting in the prescribed format.
 
Effective from December 1 this year, the Securities and Exchange Board of India has prescribed this in a circular.
 
"The listed entity shall submit to the stock exchange, within 48 hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board," the circular said.
 
In separate circulars, SEBI has also listed the format which the companies need to follow to make such disclosures as well as present the business responsibility report.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Dipakkumar J Shah

2 years ago

I think there is material mistaken in reporting. Shareholders are not entitled to attend and also vote at Board Meeting?Please clarify , correction and correctly.
Shah D J

Strengthening IP policies will fuel India's growth, development
India's modest improvement in the World Bank's "Doing Business Index" this year, along with the Bank's projection that the economy will continue to experience merely moderate growth, were not the boosts that Indian officials hoped for. The Bank's assessment, however, highlights several persistent shortcomings that continue to dampen investment, perhaps most notably the need to improve India's intellectual property (IP) regime.
 
IP rights provide the foundation for innovation and the investments that drive it, which economists have long recognized as most important factors that can raise a country's trend growth rate. Robust IP rights and enforcement protect individuals and companies willing to risk their sweat and capital to develop next technologies and products by ensuring that they can enjoy the returns from those labours. And in the advanced industries that drive a country's modernization, a strong IP regime protects the revenue streams that support continuing R&D investments, creating the virtuous circle that characterizes the world's most successful economies today. In the end, nations that provide an environment that promotes substantial R&D, starting with a strong IP regime, generate more growth and more productivity gains, which ultimately produces higher incomes.
 
Robust IP rights and enforcement also help countries like India attract more foreign direct investment (FDI) and the advanced technologies and business methods which accompany those investments. A strong IP regime also encourages those foreign direct investors to undertake their own R&D in the developing economies that host those investments. In so doing, strong IP rights provide a path to more rapid economic modernization. Moreover, without such protections, foreign companies will look elsewhere to invest.
 
Recently, along with my colleague Dr. Aparna Mathur, I analyzed India's IP rights regime and projected how improvements in those rights and protections could stimulate growth and employment, as well as FDI, in India's most advanced and R&D intensive industries.
 
First, we assessed the strength of India's IP regime based on a range of international indicators, and found that India trails not only countries such as the United States, Germany, France and the Netherlands but also China, Chile, and Singapore.
 
Next, we built an economic model that projected the consequences for India's most advanced industries if India were to upgrade its IP rights and enforcement to the level of China, Asia's other large economy at roughly the same stage of development as India. The results were notable. For example, in India's IT industry, R&D investments were estimated to grow by nearly 80 percent. Furthermore, FDI inflows were projected to increase by 43 percent in the automobile industry and by 33 percent in the drugs and pharmaceutical sector.
 
Over five-to-10 years, the value added per-employee in the auto and truck industries would be expected to increase by as much as 22 percent.
 
We also analyzed the effects of India upgrading its IP regime to the level of the United States, the global standard for IP rights and enforcement and, by most measures, the world's most successful large economy. We estimate that US-level IP protections in India would lead to increases of nearly 200 percent in R&D investments in the IT industry as well as dramatic gains in the R&D investments by Indian companies in the country's scientific instruments industry, transportation sector, and in drugs and pharmaceuticals.
 
Similarly, if India adopted an IP regime equivalent to America's, FDI inflows to India would grow by more than 100 percent in the country's automobile industry and by 83 percent in India's drugs and pharmaceuticals sector. Over five-to-10 years, the value-added per-employee would jump by more than half in India's transportation sector, by about one-third in the scientific instruments industry and by about 25 percent in pharmaceuticals and biotech. Ultimately, these changes would boost wages in India's IT industry by nearly 10 percent and the workers in India's other advanced industries would also see rising compensation.
 
Our analysis shows clearly the potential to spur faster growth and development in India, especially in its most advanced industries, by strengthening IP rights and protections; and that progress would quickly produce more jobs and higher wages. By so doing, India could finally see dramatic improvements in both its rankings by the World Bank and its investment rate. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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With 1.55 bn users, Facebook's earnings rise in third quarter
Buoyed by its mobile-advertising efforts, the social networking site Facebook has posted 11.3 percent profit in its third quarter results - at $4.5 billion in revenue from $4.04 billion last quarter with a significant increase in the number of its active users.
 
Facebook's mobile advertising revenue represented approximately 78 percent of advertising revenue for the third quarter of 2015 - up from 66 percent of advertising revenue in the third quarter of 2014, the California-based company said in a statement on Wednesday.
 
While the 11-year-old company registered 1.55 billion monthly active users (MAUs) - an increase of 14 percent year-over-year-- Mobile MAUs were 1.39 billion as of September 30 - an increase of 23 percent year-over-year.
 
There are now 1.01 billion daily active users sharing status updates and checking on other people.
 
"We had a good quarter and got a lot done. We are focused on innovating and investing for the long term to serve our community and connect the entire world," said Mark Zuckerberg, Facebook founder and CEO.
 
Facebook’s GAAP net income for the last three months -- its real profit - was $896 million compared to $719 million last quarter.
 
While capital expenditures for the third quarter of 2015 were $780 million, cash and cash equivalents and marketable securities were $15.83 billion at the end of the third quarter of 2015, the statement read.
 
Facebook has added four million users in its money-making core market of the US and Canada.
 
The company has rolled out several aggressive features in last few months.
 
If you use Facebook on iPhone, you can now read thousands of Instant Articles every day in your News Feed.
 
Instant Articles are simply articles already in your Facebook News Feed, made faster and richer.
 
Users will see a lightning bolt on the top right corner of some stories shared in News Feed. The lightning bolt indicates it is an Instant Article. When you tap the story, it will load 10 times faster than a standard mobile web article, the company said in a statement.
 
"Instant Articles not only connect readers to stories faster; they also provide a richer reading experience than standard mobile web articles, with dynamic features that make the content more fluid, interactive and immersive,” Facebook product manager Michael Reckhow said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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