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Mumbai/New Delhi, Jan. 8 Two US-based law firms - Izard Nobel LLP and Vianale & Vianale LLP - have filed ‘class action’ lawsuits against scam-hit Satyam Computer Services on behalf of investors who purchased the American Depository Receipts (ADRs) of the Hyderabad-based company between January 6, 2004 and January 6, 2009. The lawsuit has been filed at the behest of Ms Aekta Ben Patel, a non-resident Indian in US. A class action or a representative action is a form of lawsuit where a large group of people collectively bring a claim to court. In two separate news releases sent today, both law firms have charged that the IT major and its top executives violated the Section 10(b) and 20 (a) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements. According to corporate lawyers, even the independent board directors of Satyam, including the ones who have tendered their resignation, could be sued under this act. According to them, even the statutory auditor for Satyam Computer Services, Price Waterhouse could be sued. On January 7, Satyam’s Founder-Chairman, Mr B. Ramalinga Raju, sent a letter to the Satyam Board of Directors and the Securities & Exchange Board of India acknowledging a Rs 7,000-crore fraud in which Satyam’s financial accounts and disclosures were systematically falsified. As a result of this disclosure, the company’s ADRs fell by $8.42, or 90 per cent to $ 0.85 on Wednesday. Subsequently, the New York Stock Exchange suspended trading in Satyam’s ADRs. Read Complete Article here http://www.thehindubusinessline.com/2009/01/09/stories/2009010952050100.htm
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Chennai, Jan.8 India will soon allow overseas Indian professionals to practise in India, announced the Prime Minister, Dr Manmohan Singh. Addressing the inaugural of the Pravasi Bharatiya Divas – 2009, the Prime Minister said that OCI (Overseas Indian Citizens) card holders who are qualified professionals — doctors, dentists, pharmacists, engineers, architects and chartered accountants — would be able to practise their professions here. The details of the scheme are being worked out. The decision follows the overwhelming response to the Overseas Indian Citizenship scheme announced in 2006. Dr Singh also launched the Global Indian Knowledge Network, a portal to connect people of Indian origin in a variety of disciplines to users here at the national, state and local levels. This is to facilitate knowledge transfer and act as a virtual think-tank on development, education and healthcare. Dr Singh lauded the role of people of Indian origin in supporting development here. The Indian community in the US had played a key role in lifting the restrictions to end India’s nuclear isolation. The role of the Indian origin communities is growing in shaping public policy and opinion across the world. Read Complete Article here http://www.thehindubusinessline.com/2009/01/09/stories/2009010951081200.htm Reviews(0) - Add Review
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CHENNAI: They are a group of 60-70 mostly young IT professionals called the knowledge foundation. Their common thread is the need to meet and discuss issues of significance outside their professional needs.
Only this time, they are attempting to network with similar communities pan India and bring some of their activities, knowledge sharing, student outreach programmes, unconferences, under the Wikimedia banner. It is an attempt at establishing the India chapter of the Wikimedia foundation.
The knowledge foundation at Chennai has mooted attempts to start the India chapter of the Wikimedia foundation, whose chapters are present in 13 countries around the world. Each of these chapters runs on a fund of $6 million per year, obtained through corporate endowments and individual donations. Read More here http://economictimes.indiatimes.com/IT_professionals_at_Chennai_working_on_Wiki_India/articleshow/3928699.cms Reviews(0) - Add Review
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France - like many other non-English speaking European countries - is increasingly wooing young Indians for skilled jobs and as students. Besides, there also seems to be a change in the mindset of young Indians about Europe. More and more students and highly skilled immigrants are looking at non-English speaking countries, such as France, as a destination for higher study and work.
The difference in the demographic patterns between India and France is certainly working to India’s advantage with about 50% of the population in France above 40 years of age. India’s skilled young workforce is proving to be very attractive for Indian and French companies.
“The Indian workforce is young and exuberant whereas France has more experienced people. Therefore, a combination of the two is what we need to have in our workforce,” feels Ramakrishna Sachdev, director marketing, Steria, a European provider of IT-driven business services. Read More here
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 Neemrana (Rajasthan), Jan 21: The Indian publishing industry will be the focus of the 2009 London Book Fair this April, with 40 Indian writers being invited to the event, and Amartya Sen being the keynote speaker at the opening.
The Indian writers - mostly big names in English and vernacular writing - will showcase the diversity of literary and linguistic genres across the country, said representatives of the British Council India and the London Book Fair at a literary workshop at the Neemrana Fort Palace in Rajasthan Tuesday.
A special India pavilion will be set up jointly by the Book Fair authority and a forum of Indian publishers, CAPEXIL.
The names of the participating writers will be announced mid-February.
A delegation of 40 publishers from the country will also attend the fair to market their wares and acquaint themselves with the publishing laws in Britain, which are different from India.
"The London Book Fair will host 10 India-specific seminars and have four literary cafes, where one Indian writer, billed as the `author of the day`, will speak about his work," Kate Arthurs, arts consultant of the British Council`s literature department in London, told.
"Nobel Laureate Amartya Sen will be the keynote speaker at the Chairman`s Breakfast, the opening event," she added.
The British Council has been entrusted with the task of preparing the Indian publishing fraternity for the event, promote awareness about the London Book Fair, and create a shared India-British literature pool through a series of workshops, seminars and related public events in both countries with partner organisations like Wales Arts International.
The special British Council initiative in India for the London Book Fair, named "India 09 Through Fresh Eyes", will be vigorously promoted at the Jan 21-25 Jaipur Literature Festival through interactive sessions.
Debanjan Chakrabarti, head of the British Council`s Inter-Cultural Dialogue Project in India, said this market focus initiative was part of the ongoing British Council-India intercultural dialogue.
"We have been working closely with publishers in India to gear them for the London Book Fair. Last November, we organised a three-day workshop in Delhi, where representatives from the British market spoke to their Indian counterparts on ways to expand the potential of vernacular Indian publishing market to target the larger audience, including the mammoth diaspora segment in Britain," said Chakrabarti.
According to him, the market and reading trends in Britian were still dictated by the public library system and offered an opportunity for Indian publishers to make inroads.
According to global statistics, the total annual turnover of all the components in the Indian printing industry was more than Rs.50,000 crore (Rs.500 billion).
Indian books, journals and printed products are being exported to over 120 countries of the world - both developed and developing. Indian exports of books, printed pamphlets, newspapers, periodicals, job printing and printed materials during 2004-05 was estimated to be worth $550 million.
Quoting the Chamber of Indian Industry (CII) and Statistical Online India figures, Chakraberti said the publishing industry, one of the biggest in the world, was growing at the rate of 15 percent. Of this, one-third was English language publishing.
IANS
Article Src:- Zee News |
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Even as the government of India speaks of taking preventive measures to curb the menace of fake currency, statistics show there is nearly Rs 12,00,000 crore worth of fake currency still in circulation in India.
While India managed to seal the fake currency's Pakistan and Nepal route into India to a large extent, Inter Services Intelligence-sponsored operatives have furthered their activities by shifting base to Thailand.
These elements have been pumping in fake currency into the Indian market with help of operatives of the Dawood gang who have a strong base in Thailand.
The key player in this racket today is Aftab Bhakti, a D Gang operative who reports directly to Major Ali and Arshad Khan, both top ranking ISI officers.
The D gang's network is very deep-rooted in Thailand and there was already an existing route between this country and Bangladesh through which drugs were being smuggled.
Earlier, all notes were being printed in Pakistan and then transported into India through Nepal. However, the scenario changed post the November 26 attacks on Mumbai, which prompted the ISI to rethink its strategy.
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Four thousand five hundred semi-literate dabbawalas collect and deliver 175,000 packages within hours. What should we learn from this unique, simple and highly efficient 120-year-old logistics system?
Hungry kya? What would you like: pizza from the local Domino's (30 minute delivery) or a fresh, hot meal from home? Most managers don't have a choice. It's either a packed lunch or junk food grabbed from a fast food outlet. Unless you live in Mumbai , that is, where a small army of 'dabbawalas' picks up 175,000 lunches from homes and delivers them to harried students, managers and workers on every working day. At your desk. 12.30 pm on the dot. Served hot, of course. And now you can even order through the Internet.
The Mumbai Tiffin Box Suppliers Association is a streamlined 120-year-old organisation with 4,500 semi-literate members providing a quality door-to-door service to a large and loyal customer base.
Though the work sounds simple, it is actually a highly specialized trade that is over a century old and which has become integral to Mumbai's culture.
The dabbawala originated when a person named Mahadeo Havaji Bachche started the lunch delivery service with about 100 men.Nowadays, Indian businessmen are the main customers for the dabbawalas, and the service often includes cooking as well as delivery.
Economic analysis:
Everyone who works within this system is treated as an equal. Regardless of a dabbawala's function, everyone gets paid about two to four thousand rupees per month (around 25-50 British pounds or 40-80 US dollars).
More than 175,000 or 200,000 lunches get moved every day by an estimated 4,500 to 5,000 dabbawalas, all with an extremely small nominal fee and with utmost punctuality. According to a recent survey, there is only one mistake in every 6,000,000 deliveries.
How has MTBSA managed to survive through these tumultuous years? The answer lies in a twin process that combines competitive collaboration between team members with a high level of technical efficiency in logistics management. It works like this...
After the customer leaves for work, her lunch is packed into a tiffin provided by the dabbawala. A color-coded notation on the handle identifies its owner and destination. Once the dabbawala has picked up the tiffin, he moves fast using a combination of bicycles, trains and his two feet.
Team work
The entire system depends on teamwork and meticulous timing. Tiffins are collected from homes between 7.00 am and 9.00 am, and taken to the nearest railway station. At various intermediary stations, they are hauled onto platforms and sorted out for area-wise distribution, so that a single tiffin could change hands three to four times in the course of its daily journey.
At Mumbai's downtown stations, the last link in the chain, a final relay of dabbawalas fan out to the tiffins' destined bellies. Lunch hour over, the whole process moves into reverse and the tiffins return to suburban homes by 6.00 pm.
Who are the dabbawalas?
Descendants of soldiers of the legendary Maharashtrian warrior-king Shivaji, dabbawalas belong to the Malva caste, and arrive in Mumbai from places like Rajgurunagar, Akola, Ambegaon, Junnar and Maashi. "We believe in employing people from our own community. So whenever there is a vacancy, elders recommend a relative from their village," says Madhba, a dabbawala.
To know know more about the complex process read more@rediff
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Former president A P J Abdul Kalam has stressed the need for an awakening among the youth for a corruption free government and administration.
Describing the 54 crore youths of the country as its biggest asset, he said India would definitely become a super power by 2020 if youngsters worked towards the goal.
They should awaken and prepare themselves to face any challenge, he said here yesterday.
"We should change ourselves with time without losing our identity. A social renaissance should take place without losing
the identity and culture," he said.
He said important requirements for a prosperous nation were healthy people(disease free nation),wealth,good agriculture,
social harmony, peace and security. "We should all unite and work together to become a prosperous nation".
He said agriculture sector needed further focus and development. "Governance should be frank,open and without corruption. For this we should awaken the youths."
Swami Vivekananda dreamt of youths who could be moulded into good citizens. He also appreciated the good work of Ramakrishna Mutt for working among youngsters and moulding them as intellectuals working for welfare of the community.
Read more@Dnaindia
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