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Hi Folks
The first issue of 2017 carried Prof. Vasanthi Srinivasan’s (IIMB) pointers towards What Future Ready Leadership Means –

  • Capacity to anticipate unintended changes
  • Prognosis-diagnosis, Proscribe-prescribe and Diagnose-derisk
  • Alliance Building
  • One thing you will acquire that you didn’t last year
We are at the close of 2017. A good time to reflect and ponder over which of the above we did as leaders. Each one of us is a leader in our own way in our lives. I don’t believe a leader is one who is appointed as such, elected as such and occupies a certain position in an organisation. Leadership means taking ownership. Taking responsibility. Being accountable. Taking risks. Taking the team along. Taking a stand. Walking the talk. Walking the untrodden path. Listening. Learning. Letting go. Empowering. Empathising and many more……..A leader could be in the world (may be space in future!). In a nation. In a company. In a club. In a community. In a group. In a family. In an event or even in a specific situation. Of course each of these requires different leadership abilities, qualities and styles.
Alliance Building is one of the bedrocks of a strong leadership. The key to it is creating and nurturing lasting relationships. The real key lies in giving. Giving without expectations. It is an universal truth that Givers Gain. Give by empathising with the other person. Give after understanding his needs. Give before he/she asks. Give anticipating what would be best for him/her. The joy in such Giving is immeasurable. Deeply enriching. Soulfully satisfying. Highly transformational…….to the Giver !!
I found this when I referred many clients to my business associates without a referral fee, with the sole aim of ensuring that my client gets the best service and the business associate gets to grow his business. I found this when I connected a Life Coach to a promising startup couple that required a growth mentor. A seeding done years ago is now blossoming. I felt deeply gratified when I could offer some work opportunity to one of my close family members who was going through personal grief. It was a second innings at work and a corporate-comeback of sorts for this person. I felt elated when rest of my team members took this to a new high by voluntarily training this new employee and readying her as a key contributor. I had empowered them and they were now empowering her. What better joy than this ? I felt satisfied that one of my team members could achieve her personal goals of acquiring an asset and I had a small role to play in that. I experienced the joy of giving right advice (of what they needed rather than what they wanted) to some of our sincere customers who are doing wonderfully well now. Many a times, I gave time and space to family members in their own time of highs and lows. It did wonders too for the relationship.
I am getting back all of this and more right from my housemaid to driver to the dhobhiwallah to the shopkeeper to family members to friends to associates. Small gestures. Poignant moments that make life worth living. If all this is not alliance building for life, what else is ?
The key news we carry as we move on to the new year is a Snapshot of the Companies Amendment Bill, 2017 which has a lasting impact on the way business will be carried on in the years to come. Ease of doing business features have been built in but the message is loud and clear – Comply or Explain. Timely filings or Pinching Fines. Shape up or ship out ! Corporate India had ample doses of this in 2017. Lets see what 2018 has in store.
Unfortunately I am not an avid Kannada reader but as the famous Kannada poet, Rashtrakavi Kuvempu’s 113th birthday is being celebrated today, I would like to leave you with his famous words “O Nanna Chethana, Aagu Nee Anikethana” meaning “Be unhoused O my soul, only the Infinite is your goal”. Wishing you all an inspiring, fulfilling & joyful 2018 !
For our earlier issues do visit the Resource Centre at sharadasc.com.

Happy Reading

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The Companies (Amendment) Bill, 2017 has been passed by both the Houses of Parliament and the President’s Assent is awaited. Major amendments have been made to the provisions related to loan to directors, private placement procedure, stringent additional fees in cases of delay in filing of annual return and financial statements and many more such changes have been proposed.
Highlights of the Companies (Amendment) Bill, 2017 have been captured as a separate note.



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W.e.f. 7th December, 2017, the Insolvency and Bankruptcy Board of India (IBBI) has notified the IBBI (Grievance and Compliant Handling Procedure) Regulations, 2017, enabling a stakeholder, having an interest in an insolvency resolution, liquidation, voluntary liquidation, or bankruptcy transaction under the Insolvency and Bankruptcy Code, 2013 (IBC), to file a grievance or complaint against a service provider.
Procedure for filing such grievance, including the form in which such compliant is to be made, along with the disposal mechanism of such Grievance and Complaint has been provided in the Regulations.


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The IBBI has notified the IBBI (Information Utilities) Regulations, 2017, providing a framework for registration and regulation of Information Utilities. The Regulations also provides guidelines for the performance of core services and other services for laying down the Technical Standards. Such Standards will ensure and enforce the reliability, confidentiality and security of financial information to be stored by the Information Utilities and compliance of such standards should be ensured by such utilities.

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Financial information and information relating to assets in relation to which any security interest has been created, shall be submitted by the financial creditor to an Information Utility (IU) in the form and manner as prescribed. The Insolvency and Bankruptcy Board of India (IBBI) has registered National E-Governance Services Limited (NeSL) as the first IU under the IBBI (Information Utilities) Regulations, 2017.
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Regulation 31 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) deals with the disclosure of shareholding pattern and manner of maintaining shareholding in dematerialized format.
Previously, the details of the promoters and promoter group shareholding must be accompanied with PAN Number, and such shareholding was to be consolidated on the basis of the PAN and folio number to avoid multiple disclosures of shareholding of the same person.
Now, the ambit has been widened in order to include the disclosure of holding of public shareholder and non-public non-promoter shareholder, along with that of the promoter and promoter group.
 
Note: The contents of this Newsletter are only a summary and has not dealt with any issue in detail. Any action taken or proposed to be taken must be in consultation with professionals and not merely based on the articles / news updates. S. C. Sharada & Associates disclaims all liability on action taken without professional advice.
 

S. C. Sharada & Associates, Company Secretaries. #405, 7th Cross, IV Block, Koramangala, Bangalore – 560 034
sharadasc.com Phone : +91 80 25534374 , +91 80 25536618 Email: [email protected]

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