GM’s joint ventures sold in excess of 2 million vehicles in China last year—more than what it sold in the US. Even the cars on offer in the US are being moulded on the styles preferred by the Chinese market.
Symantec specialisations recognise and reward partners who have built expertise around a particular technology or market solution. Softcell is a Symantec Platinum Partner
Softcell Technologies (Softcell) today announced that it has achieved Symantec Specialisations in the area of data protection, enterprise security, storage management, data loss prevention and small and midsized business (SMB). Symantec specialisations recognise and reward partners who have built expertise around a particular technology or market solution. Softcell is a Symantec Platinum Partner.
Symantec specialisations, which recognise partners with a proven expertise in a particular area of business, provide partners with the skills and experience required to deliver differentiated service to their customers. Symantec partners achieve specialisation by meeting certain requirements that deepen their knowledge and proficiency in a solution family, and specialised Symantec partners receive exclusive benefits as a result of their investment.
Sunil Dalal, managing director of Softcell says, "For over a decade Softcell has been working closely with Symantec to guarantee successful delivery and support of Symantec solutions to customers. Symantec specialisations are a key step forward in enabling our engineers to provide expert consulting, integration and technical support."
Softcell is a leading systems integration services company in India and specializes in sales of IT software, hardware, solutions and consulting services to corporate customers in India. Founded in 1989, it is headquartered in Mumbai with offices in Bengaluru, Chennai, Delhi, Hyderabad and Pune.
Funds were allocated to Investor Helpline and www.watchoutinvestor.com from the Investor Education and Protection Fund, which was created from unclaimed dividends and interest amounts from companies. Instead, a bulk of the funds has been going to associations of industries, many of which are responsible for investors’ problems
In a shocking move, the Investor Education and Protection Fund (IEPF), administered by the Ministry of Corporate Affairs (MCA) has terminated financial support to two projects, www.investorhelpline.in and www.watchoutinvestor.com, without giving any reason. Both projects benefited investors directly. Besides, the Fund itself has been created from dividends and interest amounts not claimed by investors.
What is all the more shocking is that IEPF now seems to fund industry associations, such as the Confederation of Indian Industry (CII), the Federation of Indian Chambers of Commerce and Industry (FICCI), Associated Chambers of Commerce and Industry of India (Assocham). Representatives of these bodies have also been inducted into the IEPF group of administrators and to help decide who gets the unclaimed funds transferred to IEPF by companies.
Investor Helpline (www.investorhelpline.in) was launched in 2006 as an alternative grievance redressal mechanism, while www.watchoutinvestor.com is a database on the regulatory actions taken by a slew of regulatory agencies against companies and market intermediaries, and corporate decisions to change their name or objects. Both websites were previously given financial aid by the IEPF.
IEPF was created by an amendment to the Companies Act, which requires companies to transfer seven years of unclaimed dividends and interest to the Fund. Matured deposits and debentures of companies were also credited to this fund. It also receives grants and donations from central and various state governments. Over Rs400 crore has been credited to the IEPF since its inception. The funds are first transferred to the Consolidated Fund of India from where it is allocated to the Investor Fund.
Interestingly, the ministry had early this year asked for a proposal to enlarge the scope of the Investor Helpline project for allocation of funds beyond the term of the project which expired on 30 June 2011. But, in a letter dated 6 July 2011, MCA declined giving funds it received through IEPF.
Moreover, the previous minister of corporate affairs Salman Khurshid had acknowledged the role of Investor Helpline in response to a question in parliament. He said, "The investor grievances redressal mechanism at the website www.investorhelpline.in is also serving as a useful electronic platform for the investors."
Virendra Jain, president, Midas Touch Investors Association, which set up and operated Investor Helpline, was apparently told by the ministry that financial support was being terminated because the grievance redressal mechanism of the ministry was already doing a competent job.
Mr Jain contests the claim. He said MCA's track record of solving investors' grievances is poor. Giving his own experience, he said that around 2,000 investor complaints were forwarded by Investor Helpline to the respective regional directors and registrars of companies, but they received acknowledgment for less than 15% of the complaints.
While Investor Helpline and Watchoutinvestor have appealed to IEPF and the MCA to continue the financial support, the composition of the Fund board and the manner in which it spends its resources has erupted into a contentious issue. It is not clear why IEPF administrators are almost entirely from lobbying associations of industry or intermediaries such as chartered accountants and company secretaries, as well as representatives of stock exchanges. It is also very strange that MCA does not think it necessary to appoint even one representative of investors on the committee.