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THE LIMITED LIABILITY PARTNERSHIP ACT, 2009 – AN OVERVIEW

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BACKGROUND The Limited Liability Partnership (LLP) Act, 2008 introduced the well renowned form of business organization – The LLPs into India. The Act considered the suggestions of the various Parliamentary Standing Committees such as the Naresh Chandra Committee, J.J.Irani Committee and the Abid Hussain Committee. The Act was notified on 31st March 2009, and is effective from 1st April 2009.   KEY FEATURES OF THE LIMITED LIABILITY PARTNERSHIP ACT, 2008 a)        LLP is a separate legal entity separate from its partners, can own assets in its name, sue and be sued. b)        LLP has a perpetual succession, and remains unaffected by any change in the constitution of its partners. c)        The management of the LLP is done through its designated partners. d)        One partner is not responsible or liable for another partner’s misconduct or ne...

Quilling – First form of 3D Art – Indian Quillers perspective

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Since the U.S. Postal Service unveiled its first “Love” stamp in 1973, the annual design has featured roses, swans, ribbons and, yes, plenty of hearts. But none quite like this one. “ We consider stamps to be miniature works of art ,” says William Gicker, the Postal Service’s manager of stamp development. And indeed, the average Valentine-sender probably has no idea just how much time and effort went into creating the impossibly ornate, three-dimensional handmade artwork featured on the 44th “Love” stamp. First there was a general idea from one of the Postal Service’s art directors, followed by review by a citizen committee. Then there were months of sketches and revisions to determine the exact specification and the precise placement of every colorful swirl of paper, which required approval by the postmaster general. And then it took seven days for London-based artist Yulia Brodskaya to create the delicate heart design that will adorn the upper right corner of countless lette...

Literature & Governance

Literature and Governance Thirukkural Written by the great Tamil sage/poet Thiruvalluvar (circa 30 BC), is a work on conduct and statesmanship. The translation of Thirukkural quoted in this study is based on the publication by the Thirupannathaazh Kasi Math, 1960. Arthashastra (circa 350 BC) Is a work on ‘governance and administration of a state’ by Chanakya or Kautilya. The quotes from Arthashastra in this study have been sourced from “The Kautilya Arthashastra” (Part II – An English Translation with critical and explanatory notes) by R.P.Kangle (1972, reprint 1988), published by Motilal Banarasidas. The quotes are from Book 2 Chapter 9 – Inspection of (the work of) Officers, and they describe the accountability of various officials. I have tried to extract some of the similar aspects in both which points out about governence நாடொறும் நாடி முறைசெய்யா மன்னவன் நாடொறும் நாடு கெடும்              ...

YER (AIR) CAUD "--"

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All you need after a stressful week at office is some plac e where you can go and have some peace. A place where you  can just relax and forget your cubical where you sit for hours and hours staring at the god damn monitor. Yercaud is one such perfect destination. Yercaud is Small Hill station in Tamil Nadu situated around 1500 meters above sea level  on the eastern ghats. Salem, the nearest town to yercaud, It takes almost 1 hour 30 minutes and around 20 hairpin bends to reach Yercaud which is around 30  kms from Salem. You know, when u go on a tour or to a small trip you need to plan it properly and my friends who claimed to have planned everything  did not even bother book a hotel room to stay...Luckily we met an Auto driver who said he has contacts with Hotels where rooms are booked in his names so that he could bring the “well planned” tourists like us :P . The hotel looked good from outside but when i got in, it appeared something s...

Investor Memorandum - Simplified

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A. Investor Memorandum defined IM is a document that enables the reader understand a business and its viability proposition precisely IM provides information for promoting the participation of stakeholders IM is a strategy document, it’s a summary and hence not a detailed one B. Aspects of IM IM Components: Business/Investment Plan + Investment Teaser + Executive Summary Purpose:  To communicate and market abusiness idea Objectives:  Seeking business partner Seeking financing Seeking approval for a project Others C. Business Plan Marketing document Targeted to a particular audience – so need to know your reader Anticipate questions/concerns of target reader Comprehensive analysis of the business, the market opportunity with financial plan D. Investment Teaser A developed summary of the investment concept behind an investment idea 5 pages  Includes the outline of...

True essence of learning from “Bhagvad Gita”.

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Five ‘Paandavas’ : They represent our ‘Five Senses’ Viz. touch, taste, smell, sight and hearing. (We also have other powers e.g. to think, to speak and to walk etc.) Numerous ‘Kauravas’: They represent our never ending ‘Material Desires’. Material Desires lead to ‘Material Pleasures’ and ‘Material Pains’ to be experienced by the soul through various forms of ‘Material Lives’ on various ‘Material Planets’ Viz. Earth, Heaven and Hell. Shri ‘Krishna’: He, as the charioteer represents our ‘Mind’ i.e. the ‘Director’ of our life. The soul is linked to body through Mind. The Chariot with Four Horses and Two Wheels: It represents that the charioteer of life i.e. the mind has to control ‘Anger’, ‘Ego’, ‘Deception’ and ‘Greed’. It is to ensure Non-violence, Peace, Truth and Simplicity. The two wheels represent ‘Sacrifice’ and ‘Forgiveness’. Kurukshetra: It is the field of battle i.e. our current form of life as a ‘Human being’. The War: It represents the war which ‘Five Senses’ hav...

Coconut Chutney: On Molestation, And What YOU Can Do About It

Coconut Chutney: On Molestation, And What YOU Can Do About It : I write this post, knowing fully well that 95% of actual/potential molesters can't read this, or can't be reached with this. We're in a cou...