Podcasts about Companies Act

In this discussion, Tony chats with Yaniv Kleitman, Director in the Corporate and Commercial practice at Cliffe Dekker Hofmeyr, about a crucial but often overlooked area of corporate governance—the Social and Ethics Committee. Yaniv unpacks the Companies Act requirements, the impact of recent Companies Tribunal rulings, and the growing legal and reputational significance of ethics in business. From the role of non-executive directors to the consequences of non-compliance, this discussion is a must-listen for directors, legal advisors, and governance professionals navigating the evolving expectations of corporate citizenship in South Africa.

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Monday, February 10, 2025. This is Nelson John, let's get started. Air traffic is booming in India. Manufacturers are actively seeking deals at the Aero India exhibition, highlighting the country's potential. The International Air Transport Association (IATA) is set to hold its annual general meeting in June in New Delhi, a testament to India's growing market influence. According to Airbus India's Remi Maillard, “ India is now the third-largest air market globally, after the U.S. and China”. Boeing's Salil Gupte echoed this sentiment, calling India the most dynamic and exciting market. The civil aviation ministry claims a meteoric rise in the sector, with traffic growth projected over seven percent annually until 2043. Although rail travel remains popular, it's often slow and chaotic. Boeing estimates that converting just two percent of daily train users to air travel could double the air market, given the current low per capita air travel of 0.12 compared to 0.46 in China.Going by these statistics, the Indian market will need at least 2,835 new aircraft in the next 20 years, and all major players like Indigo, Airbus and Air India are gunning for the Next big leap in the airline sector.  Ola Electric will need to consistently sell 50,000 units every month in order to achieve profitability, says founder and chief executive officer (CEO) Bhavish Aggarwal. To be sure, Ola Electric has faced considerable criticism due to widespread customer complaints about poor service centre experience. In September last year, Mint reported that Ola's service centre backlogs had risen to 80,000 customer complaints per month.Speaking to an analyst, Aggarwal claimed that the company had recaptured its market leadership in terms of volumes with 25,000 units sold in January.The company has consistently been under pressure, with Ola Electric's shares losing about 2% on Friday alone to settle at ₹70 apiece on the BSE—only 8% off its all-time low.  The company has suffered a quarterly net loss of ₹564 crore in the last quarter of 2024.Aggarwal, however, claimed that the company “maintained a steady industry leadership with a market share of over 25%.”  The recent deportation of 104 illegal migrants to India by the US government has sparked controversy in the Indian Parliament. In the midst of this debate, Prime Minister Narendra Modi is scheduled to visit the United States from February 12 to 13, where he will engage in discussions with President Donald Trump, as quoted by Indian Foreign Secretary Vikram Misri.Earlier, on January 27, President Trump and Prime Minister Modi held a conversation focused on immigration matters and the importance of India purchasing more American-made security equipment.The United States is India's largest trading partner, with two-way trade surpassing $118 billion in 2023/24, and India recording a trade surplus of $32 billion.As a strategic partner of the United States, India will aim to enhance trade relations, simplify access to skilled worker visas and review import tariffs on over 30 items, including luxury cars, and solar cells, potentially boosting imports from the US amid rising global trade tensions.4)The Reserve Bank of India's monetary policy committee (MPC) on Friday cut the key policy interest rate by 25 basis points to 6.25% to support growth. At a post-policy press conference, new RBI governor Sanjay Malhotra spoke on a range of issues such as implementation of the proposed guidelines on liquidity coverage ratio (LCR), working with the government on various recommendations, geopolitical developments, and the cost of policy actions on regulated entities. It is not only about stability, the implementation of LCR norms comes at a cost. It requires a strict impact analysis and enough time to be implemented. While the Rupee depreciation puts pressure on inflation, a higher worry is how global uncertainties would pan out. 5) Religare Enterprises Ltd chairperson Rashmi Saluja informed shareholders at the company's annual general meeting (AGM) on Friday that she was not retiring as a director, a move that stumped shareholders and proxy advisory firms. However, a third of Religare's investors told Mint that they had voted against Saluja's reappointment as director. Manendra Singh, partner at law firm Economic Laws Practice revealed that "Under the Companies Act, 2013, the chairman can regulate the manner in which voting is conducted, but cannot take away the voting rights of its members.” The Burman family, which owns a little over 25% of Religare, got approvals from all regulatory agencies and offered to buy up to 26% shares from minority investors via an open offer that opened on 27 January. Following the hearing on Gaekwad's appeal, the Supreme Court said the Burmans' open offer cannot be closed until the Sebi decides on the legality of Gaekwad's competing offer.

Around 800- thousand non compliant companies that are going to be de-registered. The Companies and Intellectual Property Commission (CIPC) says the decision is a results of continued low compliance with annual returns, beneficial ownership, and other obligations under the Companies Act. Sakina Kamwendo spoke to CIPC Senior Manager Companies and Close Corporations Advocate Christa Klokow

The central government is considering significant amendments to the Companies Act, 2013, to streamline and simplify the merger, amalgamation, and demerger process. The focus is on reducing procedural bottlenecks and expediting corporate restructuring.  K R Srivats in conversation with Poornima Joshi, Resident Editor, businessline, on the implications of the proposed changes to M&A rules. Listen in. (Host: Poornima Joshi, Subject expert: KR Srivats, Podcast editor: Amitha Rajkumar)

In this episode of our public M&A podcast series, we talk about the latest development in the MWB ruling. As we discussed in Episode 26 of our podcast series, the Takeover Panel last year issued an order to members of management in MWB Group to pay compensation to MWB shareholders of up to £33 million (as well as issuing 10 cold-shoulder rulings). The Takeover Panel has now obtained a court order enforcing its order to pay compensation. In the episode, we: • give a brief reminder of the facts; • talk about the Panel's powers under the Companies Act to seek a court order; and • discuss what the courts have said about when it will grant an order.

Prince Andrew, the Duke of York, has been reported to the Metropolitan Police by the anti-monarchy group Republic for allegedly using a false name, "Andrew Inverness," on official company documents. This accusation pertains to Naples Gold Ltd, a private investment firm he co-founded in 2002 with sports tycoon Johan Eliasch. Republic's chief executive, Graham Smith, contends that this act violates the Companies Act 2006, which mandates accurate disclosure of directorial identities. The Metropolitan Police have acknowledged the report and are currently assessing whether further action is warranted.This incident adds to a series of controversies surrounding Prince Andrew, including his associations with convicted sex offender Jeffrey Epstein and an alleged Chinese spy, Yang Tengbo. Such actions not only reflect a disregard for legal standards but also undermine public trust in the integrity of the royal institution. The use of a pseudonym, especially one linked to his official title as Earl of Inverness, suggests an attempt to obscure his involvement in private financial ventures, raising questions about transparency and accountability. Given his history of questionable associations and decisions, this latest revelation further tarnishes his reputation and calls into question his judgment and adherence to ethical standards expected of a public figure.(commercial at 8:46)to contact me:bobbycapucci@protonmail.comsource:Prince Andrew reported to the POLICE after 'using fake name' amid saga around private investments company | Daily Mail Online

Prince Andrew, the Duke of York, has been reported to the Metropolitan Police by the anti-monarchy group Republic for allegedly using a false name, "Andrew Inverness," on official company documents. This accusation pertains to Naples Gold Ltd, a private investment firm he co-founded in 2002 with sports tycoon Johan Eliasch. Republic's chief executive, Graham Smith, contends that this act violates the Companies Act 2006, which mandates accurate disclosure of directorial identities. The Metropolitan Police have acknowledged the report and are currently assessing whether further action is warranted.This incident adds to a series of controversies surrounding Prince Andrew, including his associations with convicted sex offender Jeffrey Epstein and an alleged Chinese spy, Yang Tengbo. Such actions not only reflect a disregard for legal standards but also undermine public trust in the integrity of the royal institution. The use of a pseudonym, especially one linked to his official title as Earl of Inverness, suggests an attempt to obscure his involvement in private financial ventures, raising questions about transparency and accountability. Given his history of questionable associations and decisions, this latest revelation further tarnishes his reputation and calls into question his judgment and adherence to ethical standards expected of a public figure.(commercial at 8:46)to contact me:bobbycapucci@protonmail.comsource:Prince Andrew reported to the POLICE after 'using fake name' amid saga around private investments company | Daily Mail Online

Prince Andrew, the Duke of York, has been reported to the Metropolitan Police by the anti-monarchy group Republic for allegedly using a false name, "Andrew Inverness," on official company documents. This accusation pertains to Naples Gold Ltd, a private investment firm he co-founded in 2002 with sports tycoon Johan Eliasch. Republic's chief executive, Graham Smith, contends that this act violates the Companies Act 2006, which mandates accurate disclosure of directorial identities. The Metropolitan Police have acknowledged the report and are currently assessing whether further action is warranted.This incident adds to a series of controversies surrounding Prince Andrew, including his associations with convicted sex offender Jeffrey Epstein and an alleged Chinese spy, Yang Tengbo. Such actions not only reflect a disregard for legal standards but also undermine public trust in the integrity of the royal institution. The use of a pseudonym, especially one linked to his official title as Earl of Inverness, suggests an attempt to obscure his involvement in private financial ventures, raising questions about transparency and accountability. Given his history of questionable associations and decisions, this latest revelation further tarnishes his reputation and calls into question his judgment and adherence to ethical standards expected of a public figure.(commercial at 8:46)to contact me:bobbycapucci@protonmail.comsource:Prince Andrew reported to the POLICE after 'using fake name' amid saga around private investments company | Daily Mail OnlineBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

Dividend paperwork and documentation are crucial for ensuring compliance with legal regulations. Certainly, adhering to the Companies Act is non-negotiable for limited companies, regardless of size or shareholder structure. Proper records not only safeguard you during audits but also provide clarity for future financial decisions. Accordingly, maintaining accurate records is a wise discipline that helps avoid unnecessary complications.Essential Documents for DividendsThere are two primary documents every company must prepare for dividends. Firstly, board meeting minutes are required. These minutes document the decision to declare dividends, including the date, attendees, and confirmation of sufficient post-tax profits. Secondly, a dividend voucher acts as a receipt for the dividend payment. This voucher must include the company name, payment date, shareholder details, and the number of shares held. Together, these documents ensure compliance with legal standards and serve as proof during tax audits.Steps for ComplianceFollowing a clear process is essential when issuing dividends. First, check your accounts to confirm there are adequate post-tax profits. Then, hold a formal board meeting to declare the dividend. Next, prepare the necessary paperwork, including the minutes and vouchers. Finally, pay the dividend and retain copies of all documents for your records. Notably, even sole director-shareholder companies must follow these steps.Consequences of Non-ComplianceIgnoring dividend paperwork and documentation can lead to serious consequences. HMRC may question the legitimacy of payments, and in worst cases, label them as illegal dividends. Consequently, directors might have to repay these amounts, causing financial strain. Additionally, a lack of clarity can lead to confusion in tax filings and delays in financial reporting.Final ThoughtsDividend paperwork and documentation ensure legal compliance and financial clarity. Thus, taking time to plan and organise pays off in the long run. For further insights, listen to the I Hate Numbers podcast, where we simplify financial processes to help your business succeed.

Dividends and the Director's Loan Account are essential topics for any business owner who operates through a limited company. Firstly, dividends represent payments made to shareholders from a company's post-tax profits. Unlike wages, dividends do not attract National Insurance contributions. Consequently, they are a tax-efficient way to reward shareholders. However, dividends can only be issued if the company has sufficient profits and positive reserves. Proper documentation, such as board meeting minutes and dividend vouchers, is a legal requirement.Introducing the Director's Loan Account (DLA)A Director's Loan Account (DLA) serves as a vital record within a company's financial framework, meticulously documenting the intricate financial interplay between the company and its directors. Essentially, it functions as a ledger, meticulously tracking all financial transactions that transpire between these two entities. This encompasses a spectrum of activities, including instances where directors generously contribute their personal funds to bolster the company's resources, or when they personally shoulder company expenses. In such scenarios, the DLA faithfully reflects these contributions as credits, acknowledging the director's investment in the company's well-being. Conversely, when directors withdraw funds from the company, receive reimbursements for company-related expenses, or draw a salary, these transactions are duly recorded as debits within the DLA, providing a transparent and accurate accounting of the director's financial interactions with the company.Link Between Dividends and DLAThe connection between dividends and the DLA is noteworthy. Whenever a DLA becomes overdrawn—i.e., the director owes money to the company—it may result in tax consequences. Accordingly, dividends are often used to clear these overdrawn balances, provided there are sufficient profits. Nonetheless, ensuring compliance with the Companies Act is vital to avoid penalties.Key ConsiderationsAltogether, understanding these financial tools is vital for effective business management. Equally important is maintaining proper records and seeking professional advice. Notwithstanding the complexities, staying informed ensures you remain compliant while maximising benefits.Final ThoughtsLastly, dividends and the Director's Loan Account are significant aspects of running a limited company. Therefore, staying aware of your legal and financial responsibilities is essential. For more insights and practical advice, listen to the I Hate Numbers podcast today and take charge of your business finances!

Shareholders and directors each have unique roles and responsibilities within a company, yet people often confuse the two. As we discuss this in the episode, we aim to clarify these distinctions for UK companies. However, these principles apply broadly to companies outside the UK as well.Defining Shareholders and DirectorsFirstly, shareholders are the actual owners of the company, holding shares that signify their ownership stake. They may be individuals or entities, and their liability typically extends only to unpaid shares. Comparatively, directors handle the day-to-day management of the company. Appointed by shareholders, they implement strategy, make decisions, and hold legal responsibilities in line with the Companies Act.Roles and ResponsibilitiesShareholders' RolesNotably, shareholders primarily provide investment and vote on significant decisions, including director appointments and any alterations to the articles of association. Consequently, they share in company profits through dividends. Their role remains generally passive in day-to-day operations unless they also serve as directors.Directors' ResponsibilitiesDirectors, on the other hand, have an active role, managing daily operations, hiring staff, and negotiating contracts. Additionally, they hold legal obligations to act within their powers, promote company success, and avoid conflicts of interest. Any breach of these duties could result in personal liability, especially in cases of wrongful trading.Financial BenefitsShareholders benefit from dividends and any capital growth over time, while directors may receive salaries, bonuses, and other benefits. This separation clarifies both parties' financial stakes and obligations within the business.Summing It UpAltogether, shareholders own the company, providing investments and voting on major decisions, while directors manage daily operations and uphold legal responsibilities. Although these roles may overlap in smaller companies, understanding each role's distinct duties fosters smoother company operations.To gain more insights into managing roles and responsibilities in your business, listen to the I Hate Numbers podcastThis podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacy

The Companies Tribunal was established to provide an accessible, efficient, and cost-effective means of resolving disputes and making certain administrative decisions related to the Companies Act in South Africa. Its creation aims to support the corporate governance framework by offering a specialized forum for handling cases like company name disputes, directorship disagreements, and compliance matters. Additionally, the Tribunal facilitates Alternative Dispute Resolution (ADR) methods, including mediation and arbitration, to help companies and stakeholders resolve conflicts without the need for lengthy and expensive court processes. By reducing the administrative and financial burdens on the formal judicial system, the Companies Tribunal contributes to a more effective and business-friendly regulatory environment Nosipho is in conversation with Head: Communications & Marketing at The Companies Tribunal, Simukele  KhozaSee omnystudio.com/listener for privacy information.

In this episode, we tackle an important yet often misunderstood topic: How can directors of social enterprises be paid legally and ethically? Aishat breaks down the key legal guidelines governing director payments, discusses best practices for handling both directorial salaries and payments for additional services, and explores how to manage potential conflicts of interest. Whether you're a CIC director, founder, or part of a social enterprise team, this episode will give you the insights you need to stay compliant while maintaining transparency and fairness.KEY TAKEAWAYSDirectorial Duties vs. Additional Services: Learn the difference between being paid for directorial duties (via salary) and invoicing for separate services you provide outside your director role.Legal Guidelines: We'll walk through the essential requirements under the Companies Act 2006, including the use of PAYE for salary payments and the need for board approval when invoicing the company.Managing Conflicts of Interest: Discover how to handle payments for services without crossing ethical lines, ensuring that your board makes the final decisions on director remuneration.Best Practices for Transparency: Tips on disclosing director payments in your annual reports to build trust with stakeholders and ensure compliance.EPISODE RESOURCESGuidance on CIC Remuneration: https://www.gov.uk/government/publications/community-interest-companies-how-to-form-a-cic/community-interest-companies-guidance-chapters#things-to-considerABOUT YOUR HOSTAishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit's mission.Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.Work with Aishat: www.bancservices.co.ukCONNECTInstagramTikTok

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Wednesday, 18 September 2024. My name is Nelson John. Let's get started.Indian benchmark indices, the Nifty and the Sensex, saw a marginal rise on Tuesday as traders remained cautious ahead of US Fed's policy decision. The Nifty ended the session with a 0.14% gain while the Sensex ended with a 0.11% rise.On Tuesday, we wrote about Brookfield's plans to venture into the semiconductor fabrication sector. The sector is hot — today, Gulveen Aulakh and Shouvik Das report that the Adani Group wants a piece of this pie too. It's planning a joint venture with Israel-based company “Tower Semiconductor”. The JV will be based in Maharashtra's Raigad district. While the chips to come out of this factory will meet the Adani Group's requirements, they will also cater to foreign demand.Millions of investors are trying to make a small fortune in IPOs. Every new listing, irrespective of its size, is oversubscribed dozens of times at least. Why? Cases like Bajaj Housing Finance, which doubled when it debuted on Dalal Street on Monday. Listing day gains aren't a new concept, but it's incredibly difficult to secure an allotment for a new IPO. Sashind Ningthoukhongjam writes about strategies one could adopt if they want better chances at securing allotment. You can apply via the shareholder quota, or the small high net investor quota as well. This is a good read for you if you've missed out on some of the blockbuster IPOs we've had this year.Urban Company's early investors, Steadview Capital, Elevation Capital, and Accel, are eyeing a partial exit, planning to sell off stakes worth $100-150 million. This move is part of a broader trend where early backers cash out before a company hits the public markets, and Urban Company is preparing for an IPO next year. These secondary sales let old investors liquidate at a valuation slightly under Urban Company's estimated $2.6 billion—a strategic move as they near the end of their fund cycles. Mint's Sneha Shah and Priyamvada C report on the secondary share sale at Urban Company - something that reflects a broader trend in the Indian startup scene.What's your portfolio mix?.... Most savvy investors would say stocks, mutual funds, gold and real estate. But there's a new player in town: “Rare Collectibles”. Dipti Sharma writes that Indian investors are diversifying into luxury items like art, vintage cars and luxury watches. Rare Japanese whiskeys are part of such investments too, as the market now has both buyers and sellers. Some experts believe that these collectibles will turn into a key asset class. What rich Indians once bought for personal enjoyments, are now treated as investments that could give you decent returns.Back in 2013, India launched a plan to strengthen small farmers by creating Farmer Producer Companies  or FPCs, giving them the power to negotiate better deals and manage resources collectively, similar to successful dairy co-ops like Amul. Farmers buy shares in these FPCs, which then operate under the Companies Act—this shields them from political and bureaucratic hassles and allows them to tap into government grants. Fast forward to today, and there are over 9,000 FPCs with more than 2 million members, about 28% of whom are women, writes Sayantan Bera. These FPCs have broadened their reach, securing licences to sell everything from seeds to processed foods, helping farmers get better prices and market access. However, it's not all smooth sailing. Many FPCs struggle with getting enough working capital; high interest rates from loans make growth tough. Is Adani's semiconductor play a long term game?Struggling with IPO allotments? Tips to boost your chancesUrban Company's early backers Steadview, Elevation, Accel to sell partial stakeFrom pink dogs to fine wine, India's wealthy diversify into rare collectiblesMicro Amul: Are farmer-run companies the next big idea in Indian agriculture?

On Legal Matters Matter this evening we look at the issue of Fiduciary duties of executives and the legal consequences. The company is bound by the decisions of its directors. Transgression on any of their legal obligations under the Companies Act can result in loss, costs, physical and reputational damages. As such, a director may be held personally liable for these consequences if found to be in breach of their fiduciary duty to act with care, skill and diligence. Galeboe Modisapodi, Employment Relations & Employee Benefits Consultant, Accredited Commercial Mediator who's Partnered with Molatudi Advisory Services (MAS), joins us to discuss what the Employment Equity Act and what protection you have from discrimination in the workplace and also what remedies are available to you if you are unfairly discriminated against.See omnystudio.com/listener for privacy information.

Balancing directors' safety and accountability is the goal of the Commerce Minister's shake up of the Companies Act.   Andrew Bayly is looking to make it harder to "phoenix", in which assets are transferred from indebted companies to new ones, leaving the former to face insolvency.    He says they want to make it easier to catch directors doing the wrong thing, which will be done by assigning every director a unique digital number.  Another measure is allowing directors to take their home addresses off the companies register.   Andrew Bayly says there's a perception of risk, especially among female directors, and they will instead be able to list a more work-related address such as an office, or a related entity like a lawyer or an accountant.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Balancing directors' safety and accountability is the goal of the Commerce Minister's shake up of the Companies Act.   Andrew Bayly is looking to make it harder to "phoenix", in which assets are transferred from indebted companies to new ones, leaving the former to face insolvency.    He says they want to make it easier to catch directors doing the wrong thing, which will be done by assigning every director a unique digital number.  Another measure is allowing directors to take their home addresses off the companies register.   Andrew Bayly says there's a perception of risk, especially among female directors, and they will instead be able to list a more work-related address such as an office, or a related entity like a lawyer or an accountant.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Dilip Pungliya, a thought leader, author, investor, and entrepreneur, has brought positive impact to multiple industries with his focus and acumen in data. Dilip has a proven track record in delivering comprehensive solutions for business processes and data optimisation, including data modelling and governance. His expertise spans diverse domains, including investment and commercial banking, oil and gas, and government departments. Dilip is the Co-Founder, VP, and Chief Business Officer at ztudium Group, a global leading and maker of 4IR technologies, including Web 3.0, Artificial Intelligence, Blockchain, and Metaverse. He is also the Business and strategy advisor at Vishnu Prakash R Punglia Limited, a joint stock company that offers engineering, procurement and construction services for various infrastructure projects across India.In his experience as a Data Architect, Dilip has held top level executive positions at organisations like Shell, Department for Environment Food and Rural Affairs, a UK government entity for the environment, Deutsche Bank, ICBC Standard Bank Plc, BNP Paribas, and HSBC Investments.To know more about Dilip Pungliya, please visit https://businessabc.net/wiki/dilip-pungliyaDilip Pungliya Interview Questions00:01 - 03:36 Introduction03:37 - 05:34 Dilip's background 05:35 - 09:42 The cultural heritage of Jodhpur (India)09:43 - 13:18 India's Transformation13:19 -  19:42 From family business to technology and finance 19:43 - 25:49 VPRPL goes public 25:50 - 29:18 Education in India and the UK 29:19 - 31:38 Personal health, career, and social impact 31:39 - 33:49 Smart Cities and AI 33:50 - 34:54 Advice for young aspirants About Vishnu Prakash R Punglia LimitedVPRPL is an infrastructure company headquartered in Jodhpur, operating across India. The company currently manages over 47 projects in 13 states, with a total value exceeding USD 365 million.Vishnu Prakash R Punglia Limited (VPRPL) is one of India's rapidly expanding infrastructure development companies. The company was established in 1986 as a partnership firm under Chapter IX of the Companies Act 1956, registered with the Registrar of Companies in Mumbai, Maharashtra, India. In April 2013, VPRPL transitioned to become a joint-stock company. To know more about VPRPL, please visit https://businessabc.net/wiki/vishnu-prakash-r-punglia-ltdUseful links and Resourceshttps://www.linkedin.com/posts/dilippungliya_businessabcnet-the-global-business-directory-activity-7190683849721348098-dkz7/https://www.f6s.com/member/dilip-pungliyahttps://find-and-update.company-information.service.gov.uk/officers/TIKd5f0sfDbNAntSE6vIiPoKb0Y/appointmentshttps://www.prnewswire.co.uk/news-releases/businessabcnet-part-of-ztudium-group-partners-with-iebf-to-offer-generativeai-tools-for-smes-adds-dilip-pungliya-to-leadership-302126571.htmlhttps://www.linkedin.com/in/dilippungliya/?originalSubdomain=ukAbout citiesabc.comhttps://www.citiesabc.com/​​​​​​​​​​​ About businessabc.nethttps://www.businessabc.net/About fashionabc.orghttps://www.fashionabc.org/ About Dinis Guardahttps://www.dinisguarda.com/https://businessabc.net/wiki/dinis-guardaSupport the Show.

Welcome to Episode 82 of the #EverybodyHatesHR Podcast. In this episode: - How much DEI has changed since 2020 - The co-opting of the word woke - Working 54 days/year just to cover travel - £305k equal pay pay award Everybody Hates HR is a HR podcast with some seasoning. We're a couple of less conventional people (HR) professionals on a mission to bring practical and relatable work(ish) related content to the masses. We'll be responding to your work related dilemmas as well as keeping you up to date with news that affects your rights and sharing our hilarious (and sometimes unbelievable) HR stories! If you'd like us to anonymously answer your dilemma, drop us an email at dilemmas@everybodyhateshrpod.co.uk. Follow us! Instagram: @EverybodyHatesHRPod Twitter: @EvrybodyHatesHR TikTok: @EverybodyHatesHRPod Lola Instagram: @adultingbylola Twitter: @AdultingByLola TikTok: @adultingbylola Velisa Instagram:@velz__x

The importance of board training has been brought to light, with several company directors having been brought to task under the Companies Act for governance issues in recent months. Their wrongdoings range from minor offences such as not holding regular annual general meetings or not filing annual returns on time, to more serious ones like dereliction of duty, cheating and fraud. As part of efforts to equip directors with essential skills needed in their roles, the Institute of Singapore Chartered Accountants (ISCA), launched its Board Of Directors Masterclass Programme in February this year.  On this episode of Advancing Accountancy, we hear more about the training programme from Zoey Xie, Acting Managing Director at the ISCA Academy. Presented by: Emaad AkhtarProduced & Edited by: Yeo Kai Ting (ykaiting@sph.com.sg)See omnystudio.com/listener for privacy information.

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Even with the proposed changes in place, requisitionists may still face challenges amid disagreements over the validity of requisition notices due to technical objections. Boards may also sometimes regard such requisitioned meetings as unwelcome, creating a tense relationship with the requisitionists. What more can be done? Howie Lim gets insights from Robson Lee, a senior corporate finance and capital markets lawyer. Synopsis: The Business Times Podcasts channel showcases niche series Money Hacks, Mark To Market, WealthBT, PropertyBT, Market Focus and sponsored series. In collaboration with Robson Lee. Highlights: 00:29 Proposed new rules and their impact 02:00 Measures to hold companies accountable 05:18 Regulatory responses and future changes 08:36 Why SGX RegCo's proposed changes are inadequate 11:29 Is being litigious really the only solution? More about: Robson Lee Written and hosted by: Howie Lim (howielim@sph.com.sg) With Robson Lee, a senior corporate finance and capital markets lawyer Edited by: Howie Lim and Lee Kim Siang Produced by: Howie Lim Engineered by: Joann Chai Pei Chieh Executive producer: Lee Kim Siang Produced by: BT Podcasts, The Business Times, SPH Media --- Follow BT podcasts: Channel: bt.sg/pcOM Apple Podcasts: bt.sg/pcAP Spotify: bt.sg/pcSP Google Podcasts: bt.sg/pcGO Website: bt.sg/podcasts Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice.  --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks BT Mark To Market: bt.sg/btmark2mkt PropertyBT: bt.sg/btpropertybt WealthBT: bt.sg/btwealthbt BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlensonSee omnystudio.com/listener for privacy information.

The Kenya Mortgage Refinance Company (KMRC) is a non-deposit taking financial institution established in 2018 through a Public-Private-Partnership (PPP) and incorporated under the Companies Act 2015. It's role is to provide long-term funds to primary mortgage lenders (PMLs)-Banks and Saccosfor purposes of increasing availability of affordable home loans to Kenyans. KMRC provides concessional, fixed, long-term finance to Banks and Saccos (Primary Mortgage Lenders) so that they can transfer the same benefits to ‘wananchi', making home loans more accessible, especially to the moderate to low-income earners in the country. KMRC is licensed and regulated by the Central Bank of Kenya (CBK), with the Capital Markets Authority (CMA) providing oversight over its bond issuance operations.

Penny James has a 30 year career at, and leading, some of the world's largest financial institutions.  A Chartered Accountant by training, from Chief Risk Officer at the Pru she joined Direct Line in 2017 first as CFO, becoming CEO in 2019. Penny now holds a suite of board positions: Senior Independent Director at Hargreaves Lansdown, Non-Executive Director at QBE Insurance Group and Mitie Group plc. She is also co-chair of the FTSE Women Leaders Review. Given her long tenure on Boards and range of current Non-Exec roles, this wide ranging interview focuses on how best Corporate Affairs can serve and support the Board, while also ensuring strong relationships with the CEO and Exco. We examine how reputation and stakeholders are discussed at the top table – and yes, we do consider Section 172 for the Companies Act geeks among you. Also, if reputation is so important for the Board, why aren't there more former CADs in NED roles? Along the way we also chat:  War and peace – corporately, not the book Why for the CEO engaging with the media is now firmly more risk than reward What she looks for in a corporate affairs leader; and, Why she loves a bit of media training. We do hope you enjoy this special edition of the Little Questions podcast. Check out our back catalogue for other similar interviews with Alison Brittain, current Chair of the Premier League, Amanda Blanc, CEO of Aviva, Joe Garner, former CEO of Nationwide Building Society, Paul Drexler, the former President of the CBI and, last but not least, our good friend Mark Kleinman of Sky News. You can get in touch by emailing podcast@apellaadvisors.com and please consider leaving us a review. Matt Young is an Apella Advisors partner with 25 years of experience in corporate affairs. He was Corporate Affairs Director at Lloyds Banking Group, part of the senior team which rescued the bank and rebuilt its reputation following the financial crisis. Formerly communications director at Santander UK and board member of the BBA. Experienced in corporate communications; public affairs and policy; regulatory affairs and risk; industrial relations; crisis and complex issues management; reputation turnarounds; campaigns, competition; and ESG. Former Head of Public Affairs and Public Policy at TSB Bank. Previously a Partner at a global communications agency and has worked in the media and politics. Andrew Brown is an Apella Advisors partner, a former Director of Communications and Public Affairs at Ageas Insurance. He has more than ten years' experience leading the corporate affairs functions for global firms across a range of regulated and unregulated sectors, developing considerable experience in issues, crisis and change management. Formerly Director of Communications at Drax Group plc and Group Corporate Affairs Director at Regus plc.  Find out more at apellaadvisors.com. This podcast is produced by The Podcast Coach.

The Companies (amendment) Act 2024 came into force on 1st April this year. With that all entities have until 30th June to submit information on their beneficial owner to the Companies Commission of Malaysia. The Act also improves on previous regulations regarding the definition and also reporting framework of beneficiaries. Ranjit Singh, senior litigation partner of Ranjit Singh & Yeoh explains the mechanics of this and why this is a step in the right direction.Image Credit: Shutterstock.com

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. With the National Transmission Company South Africa (NTCSA) currently scheduled to be operationalised in July and efforts under way to ensure that the Electricity Regulation Act (ERA) Amendment Bill is passed by the current Parliament, work is now advancing on the market code for the future multimarket architecture that will progressively replace the vertically integrated structure that has prevailed for over a century. Eskom transmission MD Segomoco Scheppers will lead the NTCSA once it begins trade after addressing the remaining Companies Act requirements, having already met the key conditions of board independence, licensing and lender consent. He reported that, barring any surprises, the wholly owned Eskom subsidiary would transition towards being the transmission system operator (TSO) envisaged in the amended ERA, which by South African standards had advanced relatively speedily through the Parliamentary process. The ERA is currently being consider by the National Council of Provinces, having been endorsed by the National Assembly, and, if approved, will then be sent to President Cyril Ramaphosa, who has previously expressed an eagerness for the legislation to be promulgated as a matter of urgency. Scheppers admitted during a workshop on the draft market code that would govern the transition to a competitive industry, that he was continuously monitoring his emails for any sign of a legal challenge, following the recent issuance of creditor notices, which stipulated that any objection be lodged within 15 days of issuance and take the form of a legal challenge. However, he expressed cautious optimism that, absent any objections, the July timeframe could be met. This, after Eskom failed to meet the April 1 target date, which would have coincided with the start of the 2024/25 financial year. NEXT CHAPTER That said, he also stressed that the start of trade represented but one major milestone in a larger transformation effort, with the "next chapter" to begin once the ERA came into force and the NTCSA began integrating the TSO roles envisaged in the Act, which provides five years for such an evolution. Initially, the role of the NTCSA would be a "plug and play" version of the one performed hitherto by the transmission division. The amended ERA, however, also stipulates the following: The establishment of an independent TSO to manage the national grid, as well as system and market operations; The creation of a competitive electricity market, enabling multiple generators to compete on a level playing field; Ensure that regulation and tariffs are transparent, effective and clearly defined in scope; and Provide certainty to all market participants of their respective roles and responsibility. Speaking from the same platform as Scheppers, the Presidency's Saul Musker also highlighted that the ERA stipulated that a clear process be followed for the development by NTCSA of a market code, outlining qualifying criteria for power market participants, and for that code to be approved by the National Energy Regulator of South Africa (Nersa). The first draft of such a market code was published on April 19, following initial consultations pursued through the structure of the National Energy Crisis Committee (Necom), which was set up by Ramaphosa in July 2022 in response to the country's intensifying loadshedding crisis. Besides setting short- and medium-term goals to reduce the severity of, and eventually end, loadshedding, Necom was also instructed by Ramaphosa to "fundamentally transform the electricity sector to achieve long-term energy security". Musker said that besides the unbundling of Eskom in line with international trends and establishing the NTCSA, the key next steps related to developing a Nersa-approved market code, setting up a market operator within the NTCSA and imple...

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. With the National Transmission Company South Africa (NTCSA) currently scheduled to be operationalised in July and efforts under way to ensure that the Electricity Regulation Act (ERA) Amendment Bill is passed by the current Parliament, work is now advancing on the market code for the future multimarket architecture that will progressively replace the vertically integrated structure that has prevailed for over a century. Eskom transmission MD Segomoco Scheppers will lead the NTCSA once it begins trade after addressing the remaining Companies Act requirements, having already met the key conditions of board independence, licensing and lender consent. He reported that, barring any surprises, the wholly owned Eskom subsidiary would transition towards being the transmission system operator (TSO) envisaged in the amended ERA, which by South African standards had advanced relatively speedily through the Parliamentary process. The ERA is currently being consider by the National Council of Provinces, having been endorsed by the National Assembly, and, if approved, will then be sent to President Cyril Ramaphosa, who has previously expressed an eagerness for the legislation to be promulgated as a matter of urgency. Scheppers admitted during a workshop on the draft market code that would govern the transition to a competitive industry, that he was continuously monitoring his emails for any sign of a legal challenge, following the recent issuance of creditor notices, which stipulated that any objection be lodged within 15 days of issuance and take the form of a legal challenge. However, he expressed cautious optimism that, absent any objections, the July timeframe could be met. This, after Eskom failed to meet the April 1 target date, which would have coincided with the start of the 2024/25 financial year. NEXT CHAPTER That said, he also stressed that the start of trade represented but one major milestone in a larger transformation effort, with the "next chapter" to begin once the ERA came into force and the NTCSA began integrating the TSO roles envisaged in the Act, which provides five years for such an evolution. Initially, the role of the NTCSA would be a "plug and play" version of the one performed hitherto by the transmission division. The amended ERA, however, also stipulates the following: The establishment of an independent TSO to manage the national grid, as well as system and market operations; The creation of a competitive electricity market, enabling multiple generators to compete on a level playing field; Ensure that regulation and tariffs are transparent, effective and clearly defined in scope; and Provide certainty to all market participants of their respective roles and responsibility. Speaking from the same platform as Scheppers, the Presidency's Saul Musker also highlighted that the ERA stipulated that a clear process be followed for the development by NTCSA of a market code, outlining qualifying criteria for power market participants, and for that code to be approved by the National Energy Regulator of South Africa (Nersa). The first draft of such a market code was published on April 19, following initial consultations pursued through the structure of the National Energy Crisis Committee (Necom), which was set up by Ramaphosa in July 2022 in response to the country's intensifying loadshedding crisis. Besides setting short- and medium-term goals to reduce the severity of, and eventually end, loadshedding, Necom was also instructed by Ramaphosa to "fundamentally transform the electricity sector to achieve long-term energy security". Musker said that besides the unbundling of Eskom in line with international trends and establishing the NTCSA, the key next steps related to developing a Nersa-approved market code, setting up a market operator within the NTCSA and imple...

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. All the suspensive conditions opening the way for the National Transmission Company of South Africa (NTCSA) to be constituted as a separate, distinct and wholly-owned subsidiary of Eskom Holdings have been met, Public Enterprises Minister Pravin Gordhan and Eskom chairperson Mteto Nyati have announced in a joint statement. Still outstanding, however, is the fulfilment of Companies Act requirements, which meant that the April deadline for the full operationalisation of the NTCSA had been missed. It is anticipated that the NTCSA will commence trading about two months after the fulfilment of these requirements. The suspensive conditions that have been met include consent from relevant lenders and creditors, the passing of resolutions by the government and the boards of NTCSA and Eskom, as well as the approvals for electricity licences and other regulatory requirements by the National Energy Regulator of South Africa. "The satisfaction of all the suspensive conditions for the merger agreement between Eskom Holdings and the NTCSA signifies a key development in the government's pursuit of a restructured, competitive and dynamic electricity market that will usher in a secure and reliable energy future for South Africans," Gordhan said, while Nyati described the development as a significant milestone in Eskom's turnaround plan. "The separation of the transmission division from Eskom will now set the NTCSA on the path for operationalisation once the necessary statutory requirements as per the Companies Act have been concluded," Nyati added. The legal separation of Eskom into three entities, namely generation, distribution and transmission, was outlined in the Department of Public Enterprises' 2019 'Roadmap for Eskom in a reformed electricity supply industry' and is also in line with legislative reforms being introduce through amendments to the Electricity Regulation Act, which was passed by the National Assembly last month. Gordhan also appointed the inaugural NTCSA board on January 9. In their statement, Gordhan and Nyati argued that the legal separation of NTCSA would improve business performance, increase lender appetite, and bolster confidence among independent power producers that they would receive fair treatment.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. All the suspensive conditions opening the way for the National Transmission Company of South Africa (NTCSA) to be constituted as a separate, distinct and wholly-owned subsidiary of Eskom Holdings have been met, Public Enterprises Minister Pravin Gordhan and Eskom chairperson Mteto Nyati have announced in a joint statement. Still outstanding, however, is the fulfilment of Companies Act requirements, which meant that the April deadline for the full operationalisation of the NTCSA had been missed. It is anticipated that the NTCSA will commence trading about two months after the fulfilment of these requirements. The suspensive conditions that have been met include consent from relevant lenders and creditors, the passing of resolutions by the government and the boards of NTCSA and Eskom, as well as the approvals for electricity licences and other regulatory requirements by the National Energy Regulator of South Africa. "The satisfaction of all the suspensive conditions for the merger agreement between Eskom Holdings and the NTCSA signifies a key development in the government's pursuit of a restructured, competitive and dynamic electricity market that will usher in a secure and reliable energy future for South Africans," Gordhan said, while Nyati described the development as a significant milestone in Eskom's turnaround plan. "The separation of the transmission division from Eskom will now set the NTCSA on the path for operationalisation once the necessary statutory requirements as per the Companies Act have been concluded," Nyati added. The legal separation of Eskom into three entities, namely generation, distribution and transmission, was outlined in the Department of Public Enterprises' 2019 'Roadmap for Eskom in a reformed electricity supply industry' and is also in line with legislative reforms being introduce through amendments to the Electricity Regulation Act, which was passed by the National Assembly last month. Gordhan also appointed the inaugural NTCSA board on January 9. In their statement, Gordhan and Nyati argued that the legal separation of NTCSA would improve business performance, increase lender appetite, and bolster confidence among independent power producers that they would receive fair treatment.

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Thursday, March 27, 2024. My name is Nelson John. Let's get started:Markets enjoyed an uptick on Wednesday. Benchmark index Nifty increased by around half a percentage point, while Sensex was up by 0.73 percent by the time markets closed. India is short on directors. Not the ones that make movies — plenty of those around — but those that run companies. According to the Companies Act, every board must have a certain number of directors, depending on the size of the company. These directors should ideally be independent and impartial, and take decisions that benefit the company's future, and in turn, its shareholders. But as Mint's corporate governance writer Varun Sood reports, these directors might be shaky. Over 25 such appointed directors have called it quits before they could join boards since 2021. These directors have time and again cited personal reasons for their sudden decision to quit. As Varun writes, these often take place at companies which are undergoing a governance crisis, like Zee Entertainment, Dish TV, and other firms like Alkem Laboratories and Union Bank of India. Varun spoke to directors, investors, and governance experts to find out why this curious trend is gathering steam in India Inc.Alternative investment funds, or AIFs, are going through a rough time right now. The markets and banking regulators came down heavily on these financial instruments, issuing notices that limited their scope of investments. Private and public banks have a fair bit of exposure to AIFs, so the Reserve Bank of India wanted to protect depositors against risky or fraudulent borrowing. But after Sebi floated a consulting paper, RBI might be willing to change its course: it is exempting banks and NBFCs from liquidating or provisioning the money it had in AIFs. Provisioning is the process of setting aside an equal amount of money to protect investors and depositors. The regulators came down hard on AIFs in December after it came to light that AIFs had borrowed from the very same banks who had invested in them, leading to a potential conflict of interest. If you're a startup, it's a hard time to raise money these days. Despite that, automobile platform CarDekho is working towards a new round of funding, reports startups and new economy reporter Sneha Shah. The company is in talks to raise anywhere between a 100 to 150 million dollars that will provide exits to existing investors. The company will now be valued at 1.3 billion dollars after this round, and claims it is  on its way to an IPO in the next two years. CarDekho had a revenue of more than 2,300 crore rupees in FY23, which was a 46 percent jump from the previous financial year.Maruti Suzuki had high hopes from Jimny, a model it launched last year catered towards a market that likes off-road driving. That capability should come in handy now, as the Jimny has to overcome a steep climb from the depths of car sales hell. Only about 500 units of the Jimny have been sold in January and February. Compare that to its direct rival, the Mahindra Thar — 6,000 Thars were sold in February alone. Mint's resident auto expert Sumant Banerji takes a deep dive into the misfortune of Maruti's off-roading ambitions that hit a rough patch — it's a rut the company can't seem to get out of.Who watches the watchmen? The Indian government has decided: a fact-checking unit. It wanted to constitute such a team to flag misinformation about the government — this body would have directive powers too. Press freedom advocates and activists filed an appeal against the constitution of such a body, and the Supreme Court paid heed. The SC has now stayed the creation of this unit. Mint's special correspondent Shouvik Das explains the ramifications of the government's original plan, SC's order, and how artificial intelligence plays a crucial role in the entire saga.We'd love to hear your feedback on this podcast. Let us know by writing to us at feedback@livemint.com. You may send us feedback, tips or anything that you feel we should be covering from your vantage point in the world of business and finance. 

Deborah is an advocate of the High Court of South Africa, holding chambers at Thulamela in Sandton. She specialises in general commercial and constitutional law She is the co-founder of Tumbo Scott, a new age full service corporate and legal consultancy operating from the heart of Sandton. She qualified as an attorney and worked as a corporate associate at Webber Wentzel, one of South Africa's top 5 law firms, where she worked on some of the biggest corporate and commercial transactions in the country. Deborah thereafter worked as a senior law clerk to Justice Sisi Khampepe of the Constitutional Court of South Africa, during which time she researched for and advised the judge on some the most complex cases in the country. Following this, Deborah worked at Cliffe Dekker Hofmeyr as a dispute resolution attorney for different corporate and government entities in South Africa. Deborah has a wealth of legal knowledge and experience. Prior to joining the bar, and together with her co-founder, Dr Tshepiso Scott (LLD), built Tumbo Scott into a notable boutique law firm that, in just over 5 years, serviced various clients in the regional, and local corporate and commercial space, including international and listed companies. At the beginning of 2019, Deborah also lent her legal expertise to the fight against corruption in South Africa, representing a well-known non-governmental organisation. In this role, she was instrumental in spearheading various ground-breaking legal matters – including litigation against former members of state-owned entities implicated in allegations of malfeasance and corruption using the Companies Act, and successfully reviewing the findings of the Arms Procurement Commission, securing a landmark and historic victory against the presidency of the Republic of South Africa. Deborah has also held the position of the special secretariat to the African Union, and in this capacity, she led the preparation of the draft African Union's Common African Position on Asset Recovery (the “CAPAR”) working closely with African Union ambassadors and international dignitaries while consulting for the Coalition for African Dialogue (CoDA). The drafting of the CAPAR was a huge success and has been accepted as African Union policy by a resolution of the African Union Heads of State (Assembly/AU/Dec.774(XXXIII)). She also serves as the youngest board member on many boards, including the likes of ABSA Home Loans (101)(RF), A multi-national listed ETF company, NewGold Limited, the Merril Lynch South Africa Charitable Trust and, more recently, has been appointed as a trustee on ABSA Bank's Corporate Social Investment Trust. Deborah holds an LLB and an LLM (cum laude) in public international law, with a focus on business and human rights, from the University of Johannesburg. She also acquired a certificate from the Thabo Mbeki African Leadership institute for the course on the African Political Economy, which is aimed at inspiring leaders to understand the economic challenges confronting Africa with a view of bringing about positive change on the continent. Deborah has been recognised as one of the top 200 young South Africans in the legal field for 2018 by the Mail & Guardian, and in June 2019 she received a special recognition award from Premier David Makhura at the Gauteng City Region Premier's Youth Excellence and Service Awards for her efforts in justice and law. She has also been recognised by the international community as a nominee for the Mary Chirwa Awards for Courageous leadership and was honoured at the awards ceremony held at the Peace Palace in the Hague, Netherlands in September 2019, and in June 2021 she was featured in Forbes Africa's 30 Under 30 as a young innovative entrepreneur to watch in the legal field. --- Send in a voice message: https://podcasters.spotify.com/pod/show/tebello-motshwane/message

The coalition government's select committee banking inquiry could look at how to encourage banks to lend more to "productive" sectors of the economy rather than having such a big focus on "unproductive" housing lending, Commerce and Consumer Affairs Minister Andrew Bayly says.The National-NZ First coalition agreement says the government will establish a select committee inquiry into banking competition "with broad and deep criteria to focus on competitiveness, customer services, and profitability."Speaking in interest.co.nz's Of Interest podcast, Bayly said the government will wait to see what the Commerce Commission has to say in its market study into personal banking services before launching the select committee probe. The Commission's draft report is due on March 21."Why have we seen outflows from the productive sector like small businesses, farming and property development which is really important if you want to build houses in New Zealand? We've seen funding going out of that sector, going into what I would term the unproductive sector which is the mortgage market. That's interesting because it obviously has a big impact on businesses and the productive sector," said Bayly."Then there are things around margin [and] capital adequacy ratios that the Reserve Bank manages. That will help banks determine where they put their money, and whether they want to invest in more mortgages, or whether they want to invest in supporting businesses.""I'm approaching it with an open mind. I want to see where they [the Commerce Commission] have got to with retail [banking], but I think inevitably there's some other areas we want to cover," said Bayly.Under bank regulatory capital rules overseen by the Reserve Bank, banks are required to hold less capital against housing lending than against other types of lending such as business/corporate and agriculture lending. The major lending exposure of all NZ's major banks is housing. ANZ NZ, the country's biggest bank, has 72% of its total lending in housing.Bayly is also Minister of Statistics, plus Small Business and Manufacturing Minister.On Statistics NZ, Bayly said it will deliver the 7.5% annual spending reduction the government has asked for. Decisions and preparation are ahead for the 2028 census, he said, noting the 2023 census cost $326 million, "a lot of money.""I'm wanting to make sure that what we do drives economic growth for New Zealand, how we can power up those businesses. That's the big strategic intent," he said."Do you run another huge census every five years? That's the first question. And if you read the Stats NZ] briefing [to the incoming minister] there's a proposal that you don't run those big things again. Because governments all around the world are having the same issue where if you front up to someone now and say 'can you fill out this long form' most of them tell you to naf off," Bayly said.The next census could look to make more use of administrative data like home addresses or tax returns, he said, information and data that lies within various government entities."Obviously they've got to do it within privacy settings. But that is certainly the trend overseas and we will have to look at it.. that you may move towards more localised, small surveys, targeted surveys, and look to buttress that information using existing data sources that are potentially untapped at the moment."In the podcast Bayly also talks about Stats NZ reporting Consumers Price Index (CPI) data monthly, funding to update the CPI that's overdue, the Credit Contracts and Consumer Finance Act, the conduct of financial institutions (CoFI) regime, buy now, pay later, anti-money laundering rules, and his plans to rewrite the Companies Act.*You can find all episodes of the Of Interest podcast here.

Season 3 of one of the country's most popular reality TV shows, Shark Tank India, premiered on January 22, 2024. The show has given rise to a significant demand for startup investing. Investors are able to put in as little as Rs 5000 via online fundraising platforms like Tyke Invest and Infubiz. They offer investments in startups through Community Subscription Offer Plans.But these fundraising campaigns are not subject to securities laws and investors in these instruments do not have any shareholder rights under the Companies Act, 2013.This is creating a high-risk environment for small-time retail investors.Tune in.

For more information, see press release -MCDERMOTT ANNOUNCES TRANSACTION SUPPORT AGREEMENT WITH KEY FINANCIAL STAKEHOLDERS....Reaches Transaction Support Agreement with More Than 75% of Secured Letter of Credit Facility Providers, Funded Debt Creditors and Equity HoldersReceives $250 Million in New CapitalThe Agreement Extends Company's Loans and Letter of Credit Facilities Three Years, Until Mid-2027Company to Continue All OperationsNo Impairment to Vendors, Projects, or CustomersTo Implement the TSA and to Discharge Legal Claims Related to Prior Projects, Intends to Commence Parallel In-Court Proceedings in the Netherlands and UK for Select Non-U.S. McDermott EntitiesHOUSTON, Sept. 8, 2023 /PRNewswire/ -- McDermott International, Ltd ("McDermott" or the "Company") today announced that it has entered into a transaction support agreement ("TSA" or the "Agreement") with more than 75%, in aggregate, of its secured letter of credit ("LC") providers, funded debt creditors and equity holders to initiate a financial restructuring process to strengthen its capital structure, enhance its liquidity position, and further position the Company for long-term success. Additionally, the Company has received $250 million in new capital from a group of its existing equity holders, which will support its ability to operate its business, deliver on existing projects and expand backlog with new client projects.Under the terms of the Agreement, McDermott will amend and extend its term loans and LC facilities for three years, through mid-2027 with no change in pricing, increase the company's liquidity, and discharge certain legacy legal liabilities. To implement the Agreement, McDermott International Holdings B.V. and Lealand Finance Company B.V. will initiate procedures in the Netherlands under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord or "WHOA"). CB&I UK Limited will initiate a Restructuring Plan under Part 26A of the Companies Act 2006 (UK) in England.McDermott International Holdings B.V., Lealand Finance Company B.V., and CB&I UK Limited are the only McDermott entities named in these proceedings. Following the completion of the Netherlands and UK processes, McDermott will make a voluntary filing in the United States to secure legal recognition of the international court decisions. The Company expects to continue all current customer agreements, projects, and vendor commitments throughout these processes. McDermott currently expects to complete the processes no later than early 2024."Over the past 24 months, our executive leadership has made transformative progress in resetting and implementing our business strategy by leveraging the strength of our operating business and tailoring our approach to our core clients," said Michael McKelvy, President & CEO of McDermott. "We are pleased to have reached this agreement with our key stakeholders, which demonstrates their confidence in the long-term strength and sustainability of our business. These proactive steps ensure that McDermott is strongly positioned to deliver on our growing number of client projects as we continue our important work of accelerating the energy transition in our industry."The Company has also completed actions to strengthen its world-leading storage business, CB&I Storage Solutions. CB&I Storage Solutions will have dedicated working capital and an independent LC facility separate from the McDermott LC facilities....For more see: https://finance.yahoo.com/news/mcdermott-announces-transaction-support-agreement-152000100.html

Appleby Bermuda Shorts | Tech Talks S01 E14In our latest episode, Partner Jerome Wilson speaks to Associates Carl Meyer and Karim Creary who delve into recent legislation changes, including changes to the Companies Act 1981, and the issuance of an exemption order in relation to the Digital Asset Business Act (DABA) 2018. These are all welcome changes that speak to Government's commitment to listen to industry and further refine DABA in order to provide practical and efficient enhancements for the fintech sector in Bermuda – while also ensuring regulatory requirements are met.The trio then go on to look at what's on the digital horizon including the upcoming Bermuda Tech Summit taking place 9-10 October, and the number of entities obtaining a licence in Bermuda. If you are interested in establishing or conducting a digital assets business in Bermuda, or have any questions on the latest legislation amendments, please reach out to Jerome, Carl or Karim.The Bermuda Shorts Podcast SeriesThe Appleby ‘Bermuda Shorts' podcast features short talks on all things business and Bermuda with our lawyers from Bermuda and other industry experts. Our ‘Tech Talks' series focuses on topics and trends in technology which are transforming businesses, markets and everyday life. Listen to learn more about Appleby, Bermuda and our Technology expertise.About ApplebyAppleby is one of the world's leading international law firms. Our global teams of legal specialists advise public and private companies, financial institutions and private individuals. We are a full service law firm providing comprehensive, expert advice and services across corporate, dispute resolution, property, regulatory, and private client and trusts practice areas. We have offices in ten highly regarded, well-regulated global locations, operating in nine and practising the laws of eight jurisdictions. Our office locations include the key international jurisdictions of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Isle of Man, Jersey, Mauritius, and the Seychelles, as well as the international financial centres of Hong Kong and Shanghai....

Victoria discusses the Mainzeal Supreme Court judgement and the significance for company directors.The Supreme Court rejected an appeal the appeal of the four directors of the collapsed construction firm with $39.8m in damages, plus interest, awarded against them for breaching the Companies Act. Also workplace safety at Talleys is in the spotlight, and she looks at the locking in of some public service Chief Executives to the 2026 election and beyond. BusinessDesk investigations editor, Victoria Young.

Subcontractors still owed big chunks of money from construction firm Mainzeal's collapse a decade ago say they'll get a pittance back and do not believe justice has been served. Former Prime Minister Dame Jenny Shipley and her fellow directors of Mainzeal have lost their Supreme Court appeal and must now pay $40 million plus interest for reckless trading. The directors breached the Companies Act when they knew the firm was insolvent but continued to trade, leaving creditors and subcontractors $110 million out of pocket. Amy Williams reports. Andrew McKay is a forensic accounting specialist with Mainzeal liquidator's BDO, who brought the claims against the company's directors, he spoke to Lisa Owen.

The Supreme Court has rejected the appeal of the four directors of the collapsed construction firm Mainzeal and ordered them to pay 39-point-8-million dollars for breaching the Companies Act. It's upheld lower court decisions that former managing director Richard Yan and three other directors, former prime minister Dame Jenny Shipley, Clive Tilby and Peter Gromm, traded the firm recklessly and failed to protect the interests of creditors. RNZ Business Editor Gyles Beckford discusses the case.

Last week, Season 2 of one of the country's most popular reality TV shows, Shark Tank India, came to an end. The show has given rise to a significant demand for startup investing.Investors are able to put in as little as Rs 5000 via online fundraising platforms like Tyke Invest and Infubiz. They offer investments in startups through Community Subscription Offer Plans. But these fundraising campaigns are not subject to securities laws and  investors in these instruments do not have any shareholder rights under the Companies Act, 2013.This is creating a high-risk environment for small-time retail investors.Tune in.

What is insolvency?  It is a state when a business or a person is unable to pay debts on time. And it often leads to a bankruptcy filing. Insolvency and Bankruptcy Code, 2016 Passed in 2016, IBC governs insolvency and bankruptcy proceedings for companies, partnership firms, and individuals. It subsumed several laws such as the Companies Act 2013. Insolvency process under the bankruptcy code was a significant reform for resolution of companies facing financial distress. Even though it still has a long way to go, the insolvency and bankruptcy code has managed to deal with over 2,000 cases either through resolution or liquidation. Pre-packaged insolvency resolution process Micro small and medium enterprises or MSMEs are the backbone of the Indian economy. They generate millions of jobs and the health of these companies is crucial for sustained growth. In the wake of Covid pandemic, a pre-packaged insolvency resolution was introduced in April 2021 to deal with stress of these small and mid-sized companies. The idea was that resolution of distressed MSMEs requires different treatment due to the unique nature of their businesses. Pre-packaged insolvency process is an alternate and speedier resolution mechanism for micro, medium and small enterprises in financial distress. However, the scope of pre-packaged insolvency processes is larger than just Covid stress. It seeks to achieve quicker, cost-effective and value maximising resolution and at the same time making it least disruptive for the continuity of businesses. The entire resolution process has to be completed in 120 days from the date of initiation. If the default amounts range anywhere between Rs 10 lakh to Rs 1 crore, the pre-packaged insolvency process kicks in. If the defaults are higher than the said amount, a corporate insolvency resolution process under the IBC would be initiated. Unlike in the corporate insolvency process, the pre-packaged insolvency process allows for an informal understanding between creditors and debtors. The informal understanding is the way of debt resolution of distressed companies before insolvency initiation. After 66% of creditors approve the informal proposal, the pre-packaged insolvency resolution process begins. However, only two cases have been admitted so far under the pre-packaged insolvency process, which is quite low. According to reports, the poor response for the mechanism was due to the hesitancy of financial institutions. In the corporate insolvency resolution process, haircut is a last resort and in pre-packaged process, it is voluntary. Banks are reportedly not willing to initiate pre-packaged insolvency processes due to voluntary haircuts.

Byju Raveendran, the founder and CEO of India's highest valued start-up Byju's, will be relieved that the past six months are behind him and his company. In an interview he gave to Business Standard after revealing his company's FY21 financials, Raveendran said that now, the company was prepared. Asserting that this kind of thing happens only once, he said the edtech giant was strengthening the finance function and would hire a global CFO soon.  Raveendran also said the company is now prepared not only for the next year but also to live the life of a public company, whenever it decides to cross that bridge.  However, the FY21 financials don't paint a pretty picture. The company's operational revenue on a consolidated basis grew just 4% year-on-year to Rs 2,280 crore. And the losses jumped 20 times, to Rs 4,589 crore. BYJU's FY20 loss was adjusted to Rs 232 crore. But why have the company's revenues remained flat despite Raveendran claiming significant business growth during the fiscal? This was due to a new revenue recognition practice adopted in FY21. This change was sought by its audit firm Deloitte Haskins and Sells.  BYJU's started recognising streaming revenue over the period of consumption, which was previously recognised fully on the commencement of the contract. Credit and EMI sales will also get recognised after complete collection. This meant that revenue from sales made under deferred payment terms totalling 1,156 crore rupees was not recognised because, according to the auditor, “BYJU's did not meet the criteria that it was probable it will collect the consideration to which it is entitled”.  Deloitte further highlighted difficulties in the auditing process. Under normal circumstances, the fee paid to Deloitte for statutory audit would have grown from 73 lakh rupees in FY20 to 1 crore rupees.  However, Deloitte said it charged Rs 3.5 crore extra as statutory audit fees because of “the additional effort incurred in the audit consequent to material weaknesses observed in internal controls”  Owing to the pandemic, the auditor said BYJU's faced hardships not only in terms of business operations but also in implementation and operating effectiveness of certain internal controls over financial reporting.  As BYJU's diverted its effort toward integrating and streamlining the operations of the various entities it acquired post the end of the financial year, it resulted in delays in the preparation of the financial statements for FY21.  As a consequence, BYJU's could not comply with certain provisions of the Companies Act. Ultimately though, it received a clean audit report from Deloitte, notwithstanding the complexities involved in reworking the numbers based on the new revenue recognition model. It's interesting to note that the share of India in BYJU's total revenue went down from 73% to 43%. Meanwhile, Middle East's share jumped from 11% to 22% and US's share increased from 16% to 35%.  WhiteHat Jr, which the startup acquired in August 2020, has played spoilsport in BYJU's financials. Raveendran said bringing down high customer acquisition costs at WhiteHat Jr is the only business challenge he has. From the date of acquisition, Whitehat Jr has contributed just Rs 326.66 crore to total revenue of BYJU's but Rs 1,548 crore to the loss before tax from operations. Shriram Subramanian, Founder and MD, InGovern Research Services says embedding of processes has not kept pace with BYJU's break-neck speed of growth. Evidence suggests that the worst is not behind for BYJU's. Reputational hit will make raising money more tough amid difficult funding environment. The string of bad news that has followed Byju's has also had an impact on the brand. Christopher Roberts, Founder & Managing Director, Engaged Strategy, says negative word of mouth from customers, employees damaging Byju's brand. The worst is not behind for BYJU's if it does not chan

If you want to start building your own company, you must first understand the law and its regulations. One of which is having a registered office address to which all communications and notices may be addressed. It falls under Section 86 of the Companies Act of 2006. Aside from the registered office address, you might also hear the service address and business address. Do not be confused with all of these, Annette will share her knowledge about the difference between a registered office business address and a service address. This type of information about the company is shown on the website, letterhead, emails, and serves as a public record. Furthermore, it will help support corporate transparency and will be able to help people know where businesses are located. Stay tuned for more information regarding this informative topic. Highlights of this episode: What is Section 86 of the Companies Act of 2006? Difference between registered office, business address, and service address The importance of a registered office business address Can you change your registered office business address? Resources: If you're struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) Youtube link of the episode: https://www.youtube.com/watch?v=22pLvAOFmeY (https://www.youtube.com/watch?v=22pLvAOFmeY) Connect to Annette Ferguson: Facebook - https://www.facebook.com/UKAnnetteFerguson/ (https://www.facebook.com/UKAnnetteFerguson/) Instagram - https://www.instagram.com/annetteandco_/ (https://www.instagram.com/annetteandco_/) YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA (https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA) Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners - https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522 (https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522)

The disclosure of directors' remuneration is now a requirement of the Companies Act. The aim is to ensure that companies comply with the principles of transparency, accountability and integrity and maintain high standards of corporate governance. RSM Legal Director, Phillip Kruger, chats to Audit Director, Henk Heymans, about the key considerations of the legislation, as well as the challenges they are seeing with their clients.

The disclosure of directors' remuneration is now a requirement of the Companies Act. The aim is to ensure that companies comply with the principles of transparency, accountability and integrity and maintain high standards of corporate governance. RSM Legal Director, Phillip Kruger, chats to Audit Director, Henk Heymans, about the key considerations of the legislation, as well as the challenges they are seeing with their clients.

At a time when airports across the country are seeing a jump in the traffic, the soaring prices of fuel are threatening to skid the airline business off the runway. Oil marketing companies raised the price of aviation turbine fuel (ATF) by a steep 16% on Thursday. It leaves the pandemic-ravaged airlines with no other option, but to pass on some burden to fliers. It seems that the worst is not over yet for airlines and the travel and tourism industries. Find out how an upcoming hike in airfares -- which looks imminent now -- will impact these industries. Markets too are passing through turbulent weather. And stocks are falling like ninepins. So, with the US Fed and the RBI making their priorities clear, how should investors approach the markets? How is market veteran Shankar Sharma, founder, First Global tackling ongoing headwinds? Business Standard's Puneet Wadhwa caught up with him to understand his interpretation of the recent developments and find out his investment strategy. Meanwhile, the benchmark S&P BSE Sensex and the Nifty50 indices hit 52-week lows on Thursday, as economists feared a recession could be around the corner for the United States. And even though the US Fed raised its key rate by 75 basis points to curb inflation, markets watchers see more pain ahead for the US and Indian markets. Apart from private firms listed at stock exchanges, there is another set of companies which are formed for charitable purposes only. Both of them have at least two shareholders and two directors -- but their objectives are completely opposite. While a private listed company is formed for profit, a company formed under Section 8 -- erstwhile Section 25 -- of the Companies Act 1956 are for charity purpose only. Find out about the latter in this episode of the podcast amd more.  Watch video

Before we delve deeper into the specifics of the Section 8 of the Companies Act, let us first skim through the case which brought it into the news. Congress chief Sonia Gandhi and party MP Rahul Gandhi were recently summoned by the Enforcement Directorate for questioning in a case of money laundering registered against them. Sonia could not appear as she was admitted to Delhi's Ganga Ram hospital due to Covid-19 complications. But Rahul did. So what is the case? In 1938, Jawahar Lal Nehru had founded a newspaper called National Herald-- which went on to become a prominent voice against British rule. Its publishing company, Associated Journals Limited or AJL, also used to take out Hindi paper Navjivan and Urdu daily Qaumi Awaz. But, over the years, it lost steam. And about 70 years later, in 2008, AJL stopped publishing the papers due to continued losses. Meanwhile, to save the paper, Congress had given interest-free loans to AJL reportedly from the party funds. By 2008, AJL -- which had about 1,000 shareholders -- owed about Rs 90 crore to Congress. It was then that AJL stocks were transferred to Young Indian (YIL) -- a private charitable company formed by Gandhis in 2010 under Section 25 of the Companies Act. In 2013, BJP MP Subramanian Swamy filed a complaint alleging corruption. He asked how AJL -- which had assets worth Rs 2,000 crore in prime locations-- can be bought for just Rs 50lakh? Congress rejected the charges. It said that YIL was a not-for-profit company, and no profit or dividend can be doled out to its shareholders or directors – in this case the Gandhis. The party also insisted that AJL continues to be the owner of National Herald and there is no transfer of property. So what is Section 8 of Companies Act and why firms are floated under this provision.   If a company is being floated to promote social welfare, it can either get itself registered as a trust under the Trust Act, 1882 or the Societies Registration Act, 1860. Or it can choose to register itself as a not-for-profit organisation under Section 8 of the Companies Act, 2013 -- previously under Section 25 of the Companies Act, 1956. A company is registered as a non-profit organisation (NPO) under the Section 8 to promote education, charity, religion, arts, commerce, environment, sports, science, research, social welfare. And the profit earned by the organisation cannot be used for paying out dividends to its members. It can only be used to promote the purpose it has been set up for. The licence for such companies is issued by the central government. While the authorization for the trust is given by state governments.  And these companies can get the tax benefits if it gets registration under section 80G and 12AA of IT act. Some examples of Section 8 companies are Azim Premji Foundation, Reliance Foundation, Reliance Research Institute, Coca Cola India Foundation and Amazon Academic Foundation. 

Indian companies have spent over Rs 1 trillion under corporate social responsibility, since the framework for corporate spending on community came into force in 2014-15, a senior official in the ministry of corporate affairs told a national daily this week. Corporate social responsibility, or CSR, refers to a self-regulating business model that companies can utilise to be socially accountable. By practising corporate social responsibility, a company can be conscious of the impact it has on economic, environmental, and social factors.   CSR is a broad concept. It can take many forms depending on the nature of the company and industry. Apart from impacting society, CSR activities can also help build a stronger bond between corporations and employees. It can help both employers and employees feel more connected. In order to be socially responsible, first and foremost, the company needs to be accountable to both itself and its shareholders. In normal practice, companies adopt CSR programmes once they have grown their business to the point where they can give something back to society. Hence, CSR programmes are usually implemented by large corporations. But, why do companies engage in CSR activities? This is because the company believes that customers are more likely to do business with a brand that they perceive is ethical. Some companies are also motivated by their personal convictions. It is legally binding too. Under the Companies Act, 2013, a certain class of profitable entities must spend at least 2 percent of their three-year annual average net profit towards CSR activities in a particular financial year.   Companies having a net worth of at least 500 crore rupees or a minimum turnover of Rs 1,000 crore or a net profit of Rs 5 crore or more during the immediately preceding financial year have to spend on CSR activities. There are various types of corporate social initiatives. There is corporate philanthropy, where a company makes donations to charity via a corporate foundation. There can be company-organised volunteer activities. Companies can adopt socially-responsible business practices, such as producing ethical products. There can also be company-funded advocacy campaigns.   Watch video

The Revenue Budget consists of the Government of India's revenue receipts and the expenditure that is met using said revenue. It gives the details of the sources from where the government's revenue is coming. Revenue receipts can be further classified into tax revenue and non-tax revenue. Income tax, corporate tax, excise, customs and other duties make up the tax revenues.   Corporation tax is the biggest source of revenue for the government. Public and private companies registered under the Companies Act, 1956, are liable to pay corporation tax. It is levied on the net income of the company. The collection, surcharge, cess and other receipts make up a huge chunk of the revenue. While non-tax revenue is the recurring income earned from sources other than taxes. They include interest receipts, received on loans given by the government to states, railways and others, and dividends and profits received from public sector companies. Non-tax revenue also includes disinvestments that the government undertakes in companies where it holds a stake.   The payments that go towards the normal day-to-day running of the government's departments and the various services that it offers make up the revenue expenditure. Servicing interest on its borrowings, along with subsidies, among other things, are the other expenditures that the government has. Any expenditure that does not go towards the creation of assets, along with grants given to state governments and other parties, are examples of revenue expenditure. The government spends more than it earns, because of which the difference between revenue receipts and revenue expenditure is usually negative. This difference is called the revenue deficit. Watch video

Under the Companies Act, 2013, firms earning profits are required to contribute at least two per cent of their three-year annual average net profit towards corporate social responsibility (CSR) activities. The CSR provisions came into effect from April 1, 2014. Every company with a net worth of at least Rs 500 crore or a turnover of Rs 1,000 crore or more, or a minimum net profit of Rs 5 crore during the immediately preceding financial year has to spend at least 2% of the average net profits, made during the three immediately preceding financial years, on CSR activities. But before we evaluate the CII's recent recommendation, let us delve into how corporations have fared so far when it comes to CSR spending.  Contributions towards CSR plunged sharply by 64% to Rs 8,828 crore in 2020-21 from Rs 24,689 crore the year before, making it the lowest in seven years.   80% of this went to the top 10 beneficiary states. In FY21, as many as 1,619 companies spent on 8,000 CSR projects. In the previous year however, 22,531 companies showed CSR spends.  94% of the total expenditure during the year was done by 1,599 non-Public Sector companies. Mukesh Ambani-led Reliance Industries spent Rs 922 crore, topping the charts. Tata Group's flagship company Tata Consultancy Services was the second highest spender at Rs 674 crore while Wipro was third, with Rs 246 crore. Overall, Tata Group companies collectively spent nearly 1,000 crore on CSR in the year. However, 353 of the 1,619 companies in FY21 spent less than the mandated amount while 178 companies showed zero spends. Listed companies typically account for 60-70 of the total CSR spending. However, the government doesn't disclose the collective amount that eligible companies are prescribed to spend each year.  Last August, CRISIL Foundation estimated that India Inc's CSR expenditure in FY21 would come in at around Rs 22,000 crore. But the actual spending was less than half of this. Bhaskar Chatterjee, widely acclaimed as the father of Corporate Social Responsibility (CSR) in India, tells us why CSR spending plunged in FY21 and what he expects going forward. Since the CSR spending was mandated in 2014 for certain companies, the cumulative spending has crossed Rs 1.09 trillion. There has been a secular trend in how CSR expenditure has grown since 2014, from just over Rs 10,000 crore in 2014-15 to a high of almost Rs 24,700 crore in 2019-20. Given the trend, pandemic years can be seen as an aberration. Dominated by listed companies, the expenditure will certainly see a growth after normalising, although inefficiencies may persist. Experts meanwhile believe that a stringent implementation could make CSR equivalent to a tax, as it is essentially based on the concept of benevolence.  Watch video

Professor Noakes was born in Harare, Zimbabwe in 1949. As a youngster he had a keen interest in sport and attended Diocesan College in Cape Town. Following this he studied at the University of Cape Town (UCT) and obtained an MBChB degree in 1974, an MD in 1981 and a DSc (Med) in Exercise Science in 2002.In the early 90s, Noakes teamed up with Morné du Plessis to drive the founding of the Sports Science Institute of South Africa (SSISA). The Institute was built to provide a facility that would primarily fund research in sports performance. The application of this research would provide sports personnel of all disciplines with the means to improve. Noakes and du Plessis also wanted to use it as a platform to build public interest in the country's top sports people and build state pride.Prof Noakes has published more than 750 scientific books and articles. He has been cited more than 19,000 times in scientific literature, has an H-index of 71 and has been rated an A1 scientist by the National Research Foundation of South Africa for a second 5-year term.  He has won numerous awards over the years and made himself available on many editorial boards.He has a passion for running and is still active, running half marathons when he can.  He is a devoted husband, father and grandfather and now, in his retirement, is enjoying spending more time with his family.The Noakes Foundation is a Non-Profit Corporation founded for public benefit which aims to advance medical science's understanding of the benefits of a low-carb high-fat (LCHF) diet by providing evidence-based information on optimum nutrition that is free from commercial agenda.The foundation is currently looking for funding to run several of its ground-breaking research programs into healthy eating based on the Low Carbohydrate eating science.As required by the Companies Act, all funds will be used to achieve the goals of the foundation, and will not be directly or indirectly distributed to any person unless it supports the fulfillment of these objectives.Please support The Noakes Foundation.  To find out how you can be a part of this important research and make positive changes, go to The Noakes Foundation at: https://thenoakesfoundation.org/donateTo learn more about the organization, Professor Tim Noakes and more, go to: https://thenoakesfoundation.orgTo learn about the Nutrition Network and courses offered, go to: https://thenoakesfoundation.org/about-the-nutrition-networkTo follow Professor Tim Noakes on social media:https://www.facebook.com/profnoakeshttps://www.facebook.com/thenoakesfoundationhttps://www.facebook.com/groups/1647132115445196Instagram: @noakestimTwitter: @ProfTimNoakesBooks Mentioned on the ShowThe Real Meal Revolution: The Radical, Sustainable Approach to Healthy Eating by Professor Tim Noakes: https://amzn.to/3u9sLO1Lore of Running, 4th Edition by Professor Tim Noakes: https://amzn.to/3pwejfCReal Food on Trial: How the Diet Dictators Tried to Destroy a Top Scientist by Professor Tim Noakes: https://amzn.to/3dphbbJDiabetes Unpacked: Just Science and Sense. No Sugar Coating by Professor Tim Noakes: https://amzn.to/2ZswxUqWaterlogged: The Serious Problem of Overhydration in Endurance Sports by Professor Tim Noakes: https://amzn.to/3u68fxTThe Banting Pocket Guide by Professor Tim Noakes: https://amzn.to/2ZswMiiSuper Food for Superchildren: Delicious, low-sugar recipes for healthy, happy children, from toddlers to teens By Professor Tim Noakes and Jonno Proudfoot: https://amzn.to/3ub4dnHLore of Nutrition: Challenging conventional dietary beliefs by Professor Tim Noakes: https://amzn.to/2NbNvEoChallenging Beliefs: Memoirs of a Career by Professor Tim Noakes: https://amzn.to/3dyJ8O6The Quiet Maverick by Professor Tim Noakes: https://amzn.to/3s4zxCSThe Real Meal Revolution 2.0 & The Real Meal Revolution 2 Books Collection Set: https://amzn.to/3udacbBRunning Injuries: How to Prevent and Overcome Them: https://amzn.to/37tUsY7The Case for Keto: Rethinking Weight Control and the Science and Practice of Low-Carb/High-Fat Eating by Gary Taubes: https://amzn.to/3axRKmwGood Calories/Bad Calories by Gary Taubes: https://amzn.to/3dumB58The Case Against Sugar by Gary Taubes: https://amzn.to/3k9ICaUThe Big Fat Surprise (Why Butter, Meat and Cheese Belong in a Healthy Diet) by Nina Teicholz: https://amzn.to/2NifYZ3 Be sure to rate, subscribe and leave a comment!To support the show and gain access to private groups, rewards, swag, and become a Kitchen or Fatty Joe Show Rockstar, use these links:http://www.patreon.com/thefattyjoeshowor http://www.patreon.com/carriebrownCheck out our website at http://www.thefattyjoeshow.comIf you want to sport some Fatty Joe Show swag like t-shirts coffee mugs and other cool items, go to:https://www.zazzle.com/collections/the_fatty_joe_show-119044829655147361?rf=238386382098264295For recipes, articles, product discounts, Cookbooks, and Cooking Masterclasses go to: http://www.carriebrown.comCarrie Brown Masterclasses: