Sebi bars 331 ‘shell’ cos from trading after govt list

MUMBAI: Market regulator Sebi has banned 331 companies for trading on the stock exchanges after the government named them on the list of mischievous companies suspected of being involved in money laundering and tax evasion.

The list was drawn up by the Ministry of Corporate Affairs and transmitted to the regulator for future action.

At least four of these companies with established business history, reacted strongly to Sebi’s decision Monday night.

J Kumar Infraprojects, SQS India BFSI, Pincon Spirits and Prakash Industries said the suspension was without due process.

Through strongly written letter, these companies have also stressed that Sebi’s decision was detrimental to the interests of its shareholders and called for the withdrawal of the suspension.

They added that they were removed from the list of fictitious companies and indicated that they require a legal opinion on the issue.

Of the four, J Kumar Infraprojects, with a market capitalization of Rs 150 crore of Rs 2 is known for its work in the fields of engineering, design and construction.

He is involved in several high-priced projects, including the Mumbai Metro, New Bombay and Delhi, several major sailing and highways in India.

The company, which has been blocked by the BMC for repairing poor roads, said the decision will have no impact on its ongoing projects.

Prakash Industries, whose billionaire Rakesh Jhunjhunwala, one of its top 1% investors, had a market capitalization of 2.08 billion rupees.

The market value of India SQS BFSI was Rs 536 crore while Pincon Spirits was Rs 316 crore.

Estimated before the suspension, the total market cap of these 331 entities was approximately Rs 1.67 lakh crore.

Monday night, Sebi had sent instructions to the scholarships to suspend the trade of 331 control companies.

According to the regulatory directive, BSE and NSE have suspended these companies for their platform Tuesday.

Under the Sebi rules, these actions can only be redeemed once a month.

Although most companies mentioned in the trade somewhat or very rarely, some are traded regularly and have foreign and domestic institutional investors as well as individual investors recognized.

The abrupt suspension of these securities has affected the investor sentiment and also put some derivative traders in the back.

Under current rules, investors are allowed to hold shares as collateral (margin) with the stock exchanges when trading segment derivatives.

There are 331 units of these companies that form part of the total margin currently presented to stock exchanges.

Since these shares can not be traded during the day, these shares are no longer worth anything and will not be considered for the margins of derivative transactions.

“This will now push derivatives traders to reduce their positions in the segment, organize another type of collateral as margin or even reduce their share in the cash segment to offset the margin deficit,” the official said a securities house .

Cognizant says 400 senior executives take voluntary separation package

Bangalore: Cognizant Technology Solutions said that 400 of its executives have accepted a voluntary separation program (VSP), which started a few months ago, which should translate into an annual savings of about 60 million dollars.

The company launched the VSP in May, which offers up to nine months of salary as part of some of its top executives in the US. And India.

The move is part of the expansion plan of the listed company Nasdaq to improve margins and employee utilization in a rapidly evolving computer environment that has been under pressure due to automation and lower revenues from existing operations.

“In the second quarter, we have taken steps to improve our cost structure and operating margins instead of allowing us to continue to invest in economic growth.

These actions resulted in charges of approximately $ 39 million in connection with the reorganization project, mainly due to compensation costs, including those related to was launched and concluded in the second quarter voluntary separation program, CFO Karen McLoughlin said during a call after earnings analysis last week.

It was not immediately clear how many Indian executives have accepted the company’s offer, but given that more than 70% of the Conscious staff is based in that country, the number could be on the higher side according to more conservative estimates.

The company said the cost of the $ 39 million readjustment was $ 35 million for partners who have accepted their VSP. He also expects additional costs for consulting fees, severance pay, termination of the lease and consolidation costs for the facility for the remainder of the year.

McLoughlin said in February that the company aimed to improve costs through optimization, smart procurement, simplification of the top structure of the business unit and the use of corporate function expenses to increase operating margin, which is Significantly lower than its Indian rivals Infosys and TCS.

For the first time, Conscious also reported a decrease of 4 400 jobs in its workforce, the growth of its workforce to 256,800 at the end of June of 261,200 at the end of March. The decrease was attributed to performance evaluations and voluntary separation program.

“Although we will of course manage to count, we will continue to hire and invest in the essential skills necessary for the growth of our digital business, and we expect the wear and tear will decrease in the coming months,” he said.

Open ATMs only after software update: RBI

 

MUMBAI: The RBI has directed banks to operate their ATM networks only after machines receive a Windows update to protect them from malware impacting systems across the world.MUMBAI: Le RBI a demandé aux banques d’exploiter leurs réseaux ATM uniquement après que les machines The RBI has directed banks to operate their ATM networks only after the machines receive a Windows upgrade. The RBI has directed banks to operate their ATM networks only after the machines receive a Windows upgrade To protect them from malware affecting systems worldwide. MUMBAI: Le RBI asked banks to exploit their ATM networks only after the machines Receiving une mise à jour Windows for the protectors against impact systems The programs malveillants a travers le monde.MUMBAI: The RBI has directed banks to operate their ATM networks only after machines receive a Windows update to protect them fro Malware impacting systems across the world.MUMBAI: The RBI to sue the banks of exploiters leurs réseaux ATM uniquement après les machines reçoivent une mise à jour Windows to protect them against the systèmes d’impact sur les logiciels malveillants à travers le monde .MUMBAI: The RBI has directed banks to operate their ATM networks only after the machines receive a Windows update to protect them from malware affecting systems around the world. MUMBAI: Le RBI asked banks Of exploiting their ATM networks only after the machines Receiving une mise à jour The windows for the protectors against the impact systems on malveillants programs travers le monde.
The directive was in response to the WannaCry redistribution system that an information systems advocate across the world for blocking critical and demanding bitcoins in so many that rançon for the output.
Les guichets automatiques sont déclarés comme vulnérables car presque tous fonctionnent sur un logiciel Windows. Of plus, plus of 60% of automatic distributers of 2.25 lakh dans le pay function sur Windows XP obsolète.
The directive was in response to the WannaCry rescue program that wiped out computer systems around the world, blocking critical data and demanding bitcoins as a rescue for their release.
ATMs are viewed as vulnerable because almost all of them work with Windows software. Also over 60% of the 2.25 lakh ATM machines in the country run on the outdated Windows XP.
The directive is in place and is intended to provide information on the way in which information is to be provided to the Commission in order to ensure the accuracy of the information required.
Les guichets automatiques sont considérés comme vulnérables car presque tous fonctionnent sur un logiciel Windows. Of plus, plus of 60% of automatic distributers of 2.25 lakh in the pays fonctionnent sur Windows XP obsolète.
The directive was in response to the WannaCry ransomware that took down computer systems across the world locking up critical data and demanding bitcoins as ransom for its release.
ATM machines are seen to be vulnerable since almost all of them run on Windows software. Also over 60% of the 2.25 lakh ATMs in the country run on the outdated Windows XP.
The directive was in response to the WannaCry redistribution system that an information systems advocate across the world for blocking critical and demanding bitcoins in so many that rançon for the output.
Les guichets automatiques sont déclarés comme vulnérables car presque tous fonctionnent sur un logiciel Windows. Of plus, plus of 60% of automatic distributers of 2.25 lakh dans le pay function sur Windows XP obsolète.

10 Stereotypes About beauty services at home in Mumbai That Aren’t Always True.

10 Stereotypes About beauty services at home in Mumbai That Aren't Always True.

1)Some beauty parlours are advertising and giving trust but they are not so good with their work

So first we have to take the whole information of the salon which you want. Then you should see the reviews, ratings and people comments if it has good reviews and high rate then only you should go with that salon.

There are many chain salons that offer over-hyped services that are not really satisfactory.

2)When you consider laser hair removal…and they don’t require a consultation

3)When you ask for a hairstyle…and your stylist doesn’t even glance at the picture.

4)When you a massage …and your treatment room isn’t spic and span

5)When you run in for a manicure …and they use toxic polish

6)When you want highlights …and your colourist uses food reference instead of images

7)When you get a blowout ….an your stylist uses old tools

8)Blow drying becomes a damaging nightmare

9)Your example picture is disregarded

10)A trim should mean a trim

“that’s not looking how I wanted it to”. These words should never, ever be uttered during a hair appointment. whether it is cut or colour, you need to be able to trust your hairdresser, or problems will inevitably follow. Hearing this could mean that the hairdresser is inexperienced, wasn’t paying attention or any number of other things. Even if the hair is not coming out how it’s expected to, the hairdresser should never stay that to the client in the middle of the appointment.

There aren’t any licenses displayed

First and foremost, you only want to go to a place that employs technicians trained in proper manicure and pedicure procedures, as well as of the related hygiene and safety issue.

Most states require that licenses be prominently displayed, and any legit salon will most certainly have them up-usually right where you check in, near the cash register.

Don’t just glance; make sure the licenses are current and represent the people who are actually working there. Take note if there are many more beauticians working than there are licenses displayed.

 

SYSKA LED: A Trendsetter in LED Lighting in India

SYSKA LED is the flagship company of the modern, futuristic and diversified conglomerate Shree Sant Kripa(SSK) Group. Within a short span of just two years, the SYSKA brand has succeeded in creating a strong brand recall through aggressive marketing campaigns along with smart sales strategy. SYSKA has been recognized as the “Most Trusted Brand in Household Lighting”by BrandTrust Report.

At SYSKA LED the mission is: To relentlessly strive to innovate and create LED Lighting Solutions which will be efficient, reliable, safe, future-ready and environment friendly. In keeping with this mission, the organization has developed a vast range of specialized eco-friendly LED lighting solutions. These lights consume upto 70% less power than conventional lights like CFLs. They provide excellent luminous efficacy, versatility and uniform light distribution. They are designed to last exceedingly long, give quick payback periods and are completely free of toxic components like mercury, lead, etc., they are extremely durable and come with a 2-year warranty.

SYSKA LED’s expertise covers the entire gamut of LED solutions – including design, manufacturing, supply & installation of fixtures and strong after-sales service. A dedicated team of engineers with over 15 years of experience work round-the-clock with the aim of creating customerdelight.

Demand for SYSKA LED lighting products is growing at a fast pace.” We are aiming to take LED lighting to masses by offering retrofit solutions and emerge as the leader in this LED-based lighting segment, which is the future of lighting”, asserts Mr. Govind Uttamchandani, the dynamic and far-sighted CMD of the SSK group.

SYSKA LED has the most extensive array of LED lighting solutions of international quality for residential,
commercial, industrial and outdoor usage.

The residential range has functional lights like bulbs, tubes, panels to high-end products like chandeliers.This range of products is RoHS compliant. The Commercial range is also vast and has a wide range of retrofit solutions, downlights, 2 by 2 fixtures and sleek panels (withdimmableoption).

The Industrial and Outdoor portfolio cater to a wide range of applications and encompasses street lights, high-bays, tunnel lights, beam lights, garden lights and landscape lights.

SYSKA LED is nowfocused towards rapidly expanding its distribution network across India. They are making their mark through exclusive brand outlets called SYSKA LED Lounges and have robust plans of setting up 200 lounges within next one year. Says Mr. Rajesh Uttamchandani, Director, SSK Group,”In continuation with our commitment to provide the best in-class products, SYSKA looks forward to opening such Lounges across major cities in India. These will also enable us to strengthen our partnership with interior designers, architects, consultants and lighting professionals.”

In addition to its manufacturing plant in Korea, SYSKA LED has started their manufacturing operations at Rabale, Maharashtra and is planning to create a Manufacturing Zone spread across 25 acres in Madhya Pradesh.Thiswill helpthem catertothe hugedemand of LED lighting across emerging markets.

A strong manufacturing backbone, world-class R&D infrastructure, a robust distribution network and a superior sales & service team are the key drivers towards making SYSKA LED the leading player in the Indian LED lighting landscape.