Regulations
SEBI directs Magnox Infraprojects to refund money collected from investors
The company was engaged in fund mobilising activity through the issue of Redeemable Preference Shares, to more than 49 persons, without complying with the relevant provisions of the Companies Act, 1956, according to a SEBI Order
 
SEBI passed an order on 13 August 2015 on Magnox Infraprojects Limited and its directors directing them to refund the money collected by the company through issuance of Redeemable Preference Shares, with interest at the rate of 15% per annum compounded at half yearly intervals and also not to access the capital market any more.
 
SEBI also restrained the directors from associating themselves with any public company which entered the capital market for raising money from investors. These directions shall come into force with immediate effect and shall continue to be in force from the date of this Order till the expiry of 4 years from the date of completion of refunds to investors.
 
SEBI insisted that the company and its directors shall issue public notice, in all editions of two National Dailies (one in English and one in Hindi) and in one local daily (in Bengali) about the refund process, so that all the investors got their refunds.
 
The company was engaged in fund mobilising activity through issue of Redeemable Preference Shares, to more than 49 persons, without complying with the relevant provisions of the Companies Act, 1956.
 
SEBI had passed an interim order on 22 August 2014 whereby it directed the company and its directors not to collect any more money from investors.
 

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Don't wait for your CFLs to go bad before switching to LEDs
It makes financial sense to even discard your functioning CFLs and switch to LEDs. You save more money if you do that
 
There is a lot of talk about light-emitting diode (LED) lighting. The govt. has tried in various ways to popularise this energy efficient and green form of lighting. Even compared to compact fluorescent lamps (CFLs), LEDs are better as they tend to be even more efficient, have longer lives and do not contain harmful mercury. However, universal acceptance has still eluded us.
 
This is surprising as we are at an inflection point where it actually makes sense to throw away the existing working CFL bulbs and switch to LED bulbs right away. The savings in electricity due to lower units consumed actually pay for the LED bulbs including interest.
 
Light output typically ranges between 40-60 lumens per watt for CFLs with lower values for lower capacity bulbs. On the other hand, newer LED bulbs are able to achieve 100 lumens per watt across a broad range.
 
Consider a concrete example. A LED bulb of 10.5W power is equivalent to 100W incandescent bulb or 18W CFL. Assuming usage of 1,000 hours a year (at 2.7 hours a day), LED bulb saves 7.5 units (kilowatt-hour-kWh) a year compared to a CFL. Assuming electricity charge of Rs7 per unit, this saves Rs52.50 a year. A recent price of a new LED bulb of this kind is Rs400. (You may even get it cheaper online)
 
These financials are compelling. Just the savings in electricity pay for the bulbs. At 10% interest, assuming 15 years (15,000 hrs life) of the LED bulb, the equated monthly instalment (EMI) for Rs400 (the purchase cost) comes to Rs4.30 a month or Rs51.50 per year. This is actually less than the total electricity savings! Moreover, unlike the fixed EMI, the electricity prices will increase over the 15-year lifetime of the bulb, due to inflation.
 
Now, let’s see calculations for a CFL bulb. A typical CFL bulb lasts about 6 years (6,000-hour life). So including the cost of replacement CFLs and inflation, the notional return on investment (RoI) is about 20% per annum for our Rs400 investment.  The case only gets stronger the higher the number of hours a bulb is used per day.
 
Users of all kinds - residential, commercial and industrial, can make the change straight away. Whether using 1 or 100 every one will benefit. There is no need for CFLs to go bad before shifting to LEDs. This is a rare case where going green also makes financial sense. India as whole suffers from power shortage and a broad acceptance of LED bulbs will help reduce that problem as well.
 
So lets LEaD !
 
Please note that the above is correct to the best of the author's knowledge.
 
(Nemi Jain studied Engineering at IIT Bombay. He has spent a major part of his career working in banks)

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COMMENTS

PRABHAT

1 year ago

LET CFL BULBS BE EXCHANGED TO LED BULBS AT REASONABLE PRICE TO BOOST THE PUBLIC INTEREST ?

Arvind

1 year ago

warning: Check Assumptions before making this decision
a) LED bulb lifespan of 15 yrs
b) Electricity cost per unit Rs 7
If LED bulbs last 15 yrs, why do reputed manufacturers (Philips/Syska/ Eveready etc) give warranty of 1 or 2 yrs only? And even that warranty is difficult to enforce!
LEDs will last long is TRUE, but the electronic power supply in them have a much lower lifespan. Heat generated lowers their life even more.
Prefer to wait a little more for LED bulbs with lower cost, higher efficiency and better electronics from reputed manufacturers only.

Arvind

1 year ago

warning: Check Assumptions before making this decision
a) LED bulb lifespan of 15 yrs
b) Electricity cost per unit Rs 7
If LED bulbs last 15 yrs, why do reputed manufacturers (Philips/Syska/ Eveready etc) give warranty of 1 or 2 yrs only? And even that warranty is difficult to enforce!
LEDs will last long is TRUE, but the electronic power supply in them have a much lower lifespan. Heat generated lowers their life even more.
Prefer to wait a little more for LED bulbs with lower cost, higher efficiency and better electronics from reputed manufacturers only.

Anand Vaidya

1 year ago

Before buying LED lamps check these points:

- LED lamps emit cold-blue light. Choose LED with warm white colour

- I have read that cheap chinese made LEDs get very very hot after an hour or two of operation. So consider buying a good quality LED lamp even if is expensive

Anand Vaidya

1 year ago

Before touching low power CFL to LED move, I would highly recommend replacing the electric water heaters (geyser) with a Solar Water Heater.

In this case, you are replacing a 1500W-2500W device (x1hr everyday!) with a 0-Watt device. The maintenance costs are minimal (I spend about Rs 300/year).

If one is using fossilfuel or wood/chips etc it makes even more sense, since the associated pollution is gone too.

Narendra Doshi

1 year ago

Even assuming an error of around 10%, IT STILL MAKES LOT OF SENSE TO GO ONLY LEDs.

Vaibhav Dhoka

1 year ago

Not all LED bulbs are long life.I got 4 10 LED bulbs at 520 Rs from Rediff online all four bulbs were lost in 12 to 15 days.Therefor cost is exorbitant.

Sudarshan Singh

1 year ago

Based on my experiences the CFL's do not last more tan 2 years. Hence, this analogy based on cost savings does not work out

Here’s Why the Close Collaboration Between the NSA and AT&T Matters
New disclosures about the National Security Agency’s partnership with AT&T could reignite constitutional challenges to the spy agency’s efforts to wiretap the Internet 
 
Newly disclosed documents unveiling the close relationship between the National Security Agency and AT&T could breathe new life into a long-running legal dispute about the NSA’s controversial method of tapping the Internet backbone on U.S. soil.
 
This program, according to documents provided by Edward Snowden, is largely enabled by telecom giant AT&T, which filters Internet traffic, based on NSA instructions. AT&T then forwards the “take” to the spy agency’s storage facilities for further review and analysis.
But a single email traverses the Internet in hundreds of tiny slices, called “packets,’’ that travel separate routes. Grabbing even one email requires a computer search of many slices of other people’s messages.
 
Privacy advocates have long argued in court that grabbing portions of so many emails — involving people not suspected of anything — is a violation of the protection against unreasonable searches and seizures provided by the Fourth Amendment to the Constitution. 
 
The Electronic Frontier Foundation, a digital civil liberties group, is now hoping that the new documents will bolster their claims in a long-running case, Jewel v. NSA. “We will be presenting this information to the court,” said Cindy Cohn, executive director of the foundation. A Department of Justice spokesman declined to comment.
 
So far, the only court that has reviewed the constitutional question is the secret panel of jurists known as the Foreign Intelligence Surveillance Court. This court only hears arguments from the government and all of their decisions are highly classified.
 
Other federal courts have declined to debate the constitutional question for fear that discussing any collaboration with telecom companies would damage American security. Last year, James Clapper, the director of national intelligence, told a court that confirming the identities of any telecoms that work with the NSA would alert terrorists that “certain channels of communications are vulnerable to NSA interception.” 
 
But the internal NSA documents describe a nearly unavoidable surveillance system on AT&T’s Internet backbone in the United States. One document shows a technical sketch of how AT&T provides the spy agency not only with access to traffic on its own network, but also… Continue Reading…
 
 
Courtesy: ProPublica

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COMMENTS

Amy Rannells

1 year ago

Snowden has brought to light important information that deserved to be in the public domain. He recognised the NSA's surveillance programs for what they are: dangerous, undemocratic and unconstitutional activity. This wholesale invasion of privacy does not contribute to our security, it puts in danger the very liberties we are trying to protect. He deserves a statue... (much bigger one)... https://http://www.etsy.com/listing/237623587/edward-sn...

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