New Delhi: Allowing companies to transfer their unspent CSR funds to a separate account and providing more teeth to the central government to deal with violators and reducing burden on special courts are among the provisions proposed in amendments to the companies law. The Companies (Amendment) Bill, 2019 — tabled in Lok Sabha on Thursday — also seeks to enable the National Financial Reporting Authority (NFRA) to perform its functions through divisions and executive body. Also Read – Thermal coal import may surpass 200 MT this fiscalAs many as 16 sections of the Companies Act, 2013 would be amended to modify punishments provided in these sections in order to lessen the burden on special courts. Besides, the bill seeks to empower Registrar of Companies (RoC) to initiate action for removal of a company’s name if the latter is not carrying out business activities as per the Act. Amendments have been proposed to Section 135 of the Act that pertains to Corporate Social Responsibility (CSR). Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostIn a particular fiscal, certain classes of profitable companies are required to shell out at least two per cent of their three-year average annual net profit towards CSR activities. Now, the unspent CSR funds can be carried forward to a special account and the same has to be spent within three financial years. In case, the money remains unspent, then it should be transferred to any fund specified in Schedule VII of the Act. Following recommendations of a committee that was constituted by the corporate affairs ministry in July 2018, it was decided to amend the Act. An ordinance was issued in November 2018 and then a bill to replace the ordinance was passed in Lok Sabha in January 2019. However, the bill was not taken up by the Rajya Sabha. In January this year, a second ordinance was issued and the same is to be replaced by the new bill. There are also some additional changes. Corporate Affairs Minister Nirmala Sitharaman on Thursday said the bill to replace the ordinance along with certain other amendments is being brought in to “ensure more accountability and better enforcement to strengthen the corporate governance norms and compliance management in corporate sector”. On July 17, the government approved 43 amendments to the companies law. Sources had said a bill would be introduced in Parliament to carry out the 43 amendments to the Act. A total of 12 additional amendments in 11 sections of the Act are proposed to be made, in addition to amendments in 29 sections and insertion of 2 new sections carried out through the ordinance, they had said. With the amendments, procedural and technical defaults would be decriminalised while compliance would be incentivised.
This fall, teens participating in a safe driving program have the opportunity to help their high school win a $100,000 grant and a private concert from acclaimed indie-pop siblings Echosmith, known for their hit single ‘Cool Kids’.State Farm and Echosmith team up for Celebrate My Drive and offer high school students a chance to win a private concertDuring the 2015-2016 high school year, State Farm is collaborating with Echosmith as part of its annual Celebrate My Drive program. The program, which initially began in 2012, emphasizes the positives of safe driving and celebrates teens across the country for their dedication to safe driving habits, like Drive2N2 – 2 eyes on the road and 2 hands on the wheel. In 2014, more than 6 million safe driving commitments were made by teens and their communities.Video: Celebrate My Drive® 2015 Overview featuring Echosmith“It was only a few years ago that some of us were getting our driver’s licenses and we remember that exciting time,” said Sydney Sierota, lead singer of the LA-based Echosmith. “Safety for teen drivers is a major issue today, so we’re thrilled to be working with State Farm on Celebrate My Drive to encourage safe driving during teens’ first years behind the wheel. We hope through this program, we’ll bring awareness to this important issue and potentially help save lives.”This year’s celebration puts teens and their high schools front and center. From Oct. 12 starting at 7:00 a.m. CT through Oct. 25 ending at 12:59 p.m., high school administrators will submit their high school’s creative proposals addressing teen driver safety issues in their communities via www.celebratemydrive.com. Submissions are to include creative elements showcasing the key program message, #Drive2N2. High schools that submit a proposal will be in the running to be the top 100 Finalists for public voting and the chance to win one of the 22 $100,000 grants available. The 22 winners will include 11 small high schools and 11 large high schools, based on student enrollment. In addition to the grant, one high school will win a private Echosmith concert at their high school.Once creative proposals, including photos and videos, are submitted and finalists identified, the public will vote on their favorite entries. The voting process is open to any U.S. resident (ages 14 and up) beginning at 12:01 a.m. CT on Nov. 9 and will remain open through 11:59 p.m. CT on Nov. 13.“Getting a driver’s license is an awesome opportunity for a teen, but is also a huge responsibility for themselves and others they share the road with”, said Ed Gold, Advertising Director for State Farm. “Building this relationship with Echosmith allows us to connect directly with the young adult audience to remind them to #Drive2N2. As the leading Auto Insurance company in the U.S. for over 70 years, we want all teens and all drivers to drive safely. Our Celebrate My Drive program encourages teens to understand that driving safely is cool and can save lives, while they celebrate the opportunity and the freedom that comes from learning to drive.”The Celebrate My Drive program engages teens and the adults who influence them to have supportive and positive conversations about safe driving. Sadly, for more than 30 years, car crashes have been the leading cause of teen deaths. For official rules, visit www.celebratemydrive.com.
Using a database service called Nearby Now and GPS technology, brick-and-mortar shoppers can browse ad and editorial content on Lucky’s mobile site, select a shoe, color, size, and—after Nearby Now’s call center contacts local retailers—receive a text message identifying its availability at nearby stores. Alternatively, Lucky shoppers can buy online at the service’s Web site.A combined 240,000 shoppers have either downloaded the iPhone application or shopped online since the service was launched, Lucky says. (It was also featured in the Top 10 lifestyle applications at the iTunes Store.)Metrics Are Basic But MonetizableAnalytics are in the early stages, but engagement can be measured using familiar metrics specific to what users are viewing on the app. Variety averages about 500 users per day. Glosser says metrics revolve around how many downloads and number of users, as well as ads served. The Style.com app has served up 5 million ads, which come in three flavors: A logo unit that appears on the app’s “home page,” a bumper that appears before a new section loads, and a “10-pack” ad format that’s popular in slideshows where an ad appears on every tenth slide. “We can sell advertisers an ad on the site and extend that to the iPhone app,” says Glosser.App SponsorshipsAnother way publishers have been able to monetize applications is through sponsorships. Variety has a sponsor-based ad model for now, which includes a banner-style display that appears at the bottom of the screen.Last month, Forbes.com launched an “Intelligent Investing” application, offering iPhone and iTouch users access to content from Forbes.com.The app—developed by a cloud services company called Xignite—includes exclusive video content, too: “Intelligent Investing with Steve Forbes” is a series of one-on-one interviews with its CEO and various financial industry luminaries. There’s even something called “the Daily Steve,” a feature Forbes developed with the “shake function” that uses the iPhone’s accelerometer to generate a random quote from Mr. Forbes himself.To subsidize it all, Forbes sold a launch sponsorship to the Zurich Financial Services Group, a global insurance company with offices in Europe. In the grand scheme of things, iPhone applications are a relatively new phenomenon (the iTunes Store began offering them just 10 months ago) but their popularity has skyrocketed of late. In May, Apple said it passed the one billion download mark for its apps. And a recent estimate put the number of applications offered by the iTunes Store at 35,000, up from just 15,000 in January.For Abe Burns, Variety’s director of online marketing, numbers like this prove the “honeymoon period” for print-to-online platform expansion has long since passed. Much like the Web site, Variety’s app has news, reviews, photos and video coverage of the entertainment industry. Content buckets for the app are pulled in according to what is most popular on the site. More than 7,000 downloads were recorded in the first week and have since grown to 20,000.In terms of branding, some are having promising results. Condé Nast is building applications for the iPhone—available for free at iPhone’s App Store—for Style.com, Wired.com and other brands. The Style.com app, which allows access to photos, videos and reviews of fashion shows, has been downloaded 200,000 times in the last seven months. (The application has gone through three updates.) “It’s a great utility for the audience of Style.com,” says Richard Glosser, executive director, emerging media, Condé Nast Digital. Servicing ReadersWhile some magazines are leveraging the iPhone as yet another platform to show off their print brands, others are utilizing the technology to its fullest innovative potential. In February, Lucky magazine launched a mobile application—“Lucky at Your Service”—which acts as a concierge service for its shoe-buying readers.
File photo: Kulsoom Nawaz, the wife of ousted Pakistani prime minister Nawaz Sharif, speaks during a news conference at her residence in Islamabad, Pakistan on 9 December 2000. — ReutersThe cancer-stricken wife of Pakistan’s former prime minister Nawaz Sharif died in London on Tuesday while her husband and daughter were in jail, officials said.Kulsoom Nawaz Sharif, 68, died after months in a coma. She was diagnosed with lymphoma last year, barely a month after Nawaz Sharif was removed from office by the Pakistan Supreme Court after being ordered to face trial in an anti-corruption court.“The wife of Mian Nawaz Sharif is no more among us. May God rest her in peace,” Shehbaz Sharif, the former prime minister’s brother, said on Twitter.New prime minister Imran Khan issued a statement offering condolences and ordering the Pakistani High Commission in London to “provide the family all the necessary facilities and cooperation”.Nawaz Sharif was in London with Kulsoom earlier this year when the anti-corruption court handed him a 10-year jail term and sentenced his presumed political heir, daughter Maryam, to seven years in prison over the purchase of luxury flats in London in the 1990s.The father and daughter left her bedside to return to Pakistan to rally their followers ahead of 25 July elections, which their party lost to the former cricket star Imran Khan’s party. Both were arrested on arrival and have been imprisoned since.Kulsoom Sharif was briefly a member of parliament after she won her husband’s former seat in a by-election after the Supreme Court disqualified him.Three-time-premier Nawaz Sharif, who was removed from office in each of his elected terms, has maintained that his ouster in July 2017 and subsequent conviction were part of a plot against him by the powerful military and the judiciary.The army has repeatedly denied any interference in politics, while the courts insist justice is carried out impartially.
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2 min read Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Opinions expressed by Entrepreneur contributors are their own. Ah, internet trolls, those aggressive commentators who sow discord, start arguments and generally try and make as many people as possible feel terrible through ugly and often off-topic comments.If they seem like psychopathic sadists that’s because, as a new study published this week in the Journal of Personality and Individual Differences suggests, they probably are.Related: Social Media Is Getting Nasty. How Can You Rise Above It?Survey respondents were asked about their online behavior, including how much time they spend online and whether or not they frequently leave comments on news websites. Commenters who said that they most enjoyed using the internet for trolling (as opposed to other, sunnier options like “chatting with others,” or “debating issues that are important to you”) displayed personalities strongly linked to sadism, psychopathy and Machiavellianism. The connection between trolling and sadistic behavior was particularly robust, and strong enough for the authors to conclude that “online trolls are prototypical everyday sadists.”Pretty dramatic, eh?The more time a person spent online, the study found, the more likely he or she was to display sadistic characteristics. Of course, not all commentators are trolls. Only 5.6 percent of respondents were identified as trolls, while 44.3 percent were identified as “non-commenters,” meaning that trolls account for a minority of online commentators.In all, the study confirms what feels obvious: trolls do what they do because they enjoy it. “Both trolls and sadists feel sadistic glee at the distress of others,” the study notes. “Sadists just want to have fun … and the Internet is their playground!”Related: How to Handle Negative Online Reviews February 17, 2014 Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Register Now »