India Japan (Indo-Japan) Trade and Investment Monthly NewsLetter, Japan to Import more Textiles from India, Honda Cars India to launch 5 new Diesel Models, Impact of the Companies Bill, 2012 on the Foreign Companies having a Place of Business in India, Class Action Suits: Finally an effective weapon in the hands of the Stakeholders
Highlights of IJTIB-December 2013:
• Japanese Carmakers Commit Huge Investments to India
• Japan’s Toyo Suisan & Ajinomoto Forming 51:49 Instant Noodle JV in India
• India and Japan Eyeing Joint Tenders for LNG
• Ecovis RKCA Partners Japanese Firm Ecovis XAT
• Manufacturing Firms in Japan Prefer India for Investments
• CAC Corporation to Acquire Majority Stake in Accel Fortline
• Japan’s Kokuyo Acquires Riddhi Enterprises
• Isuzu Earmarks Three Thousand Crores for Sri City Unit
• Japan's KITZ Corp Acquires Indian Valve Manufacturer Micro Pneumatics
• Hitachi to Invest Rs. 4,700 Crore in India in 2015-16
• Suzuki to set up Export Headquarters in India
• Japanese Companies Keen to Establish Telecom Gear Test Labs in India
• Japan's Whisky Maker Suntory May Join Race for Whyte & Mackay
• Samurai Incubate to Fund Indian Startups
Knowledge Centre: Work Hour and Overtime (Indian labour and Employment Law)
Indo-Japan Trade and Investment Highlights:
India and Japan to work IT together
Japanese firm Looking to Strengthen Aviation Defence Presence in India
Omori to Acquire Majority Stake in Multi Pack Systems
Return of Mazda in India
Currency Swap to Control Falling Rupee and Improving Financial Ties with Japan
Suzuki to make India Hub for Export of Left Wheel Drive Swift Models to other Emerging Markets
India and Japan Launch Joint Research Programs in Applied Science
The Anime Bond
Knowledge Center: Overview of Indian Labour Law
Indo Japan Trade and Investment Bulletin by Japan Desk of Corporate Professionals
Highlights:
1. Claris Lifesciences Transfers its Infusion Business to JV with Japanese Companies
2. Honda rises to become the Second Largest Two Wheeler Player in India
3. Ricoh to Expand its Business in India
4. Panasonic looking to Increase Revenue from India
5. Tube Investments of India to Invest in a JV with Japan’s Tsubamex
6. Japanese Companies Delegating Autonomy to Local Talent
and much more
Knowledge Centre: FDI Policy Update
Highlights of IJTIB-December 2013:
• Japanese Carmakers Commit Huge Investments to India
• Japan’s Toyo Suisan & Ajinomoto Forming 51:49 Instant Noodle JV in India
• India and Japan Eyeing Joint Tenders for LNG
• Ecovis RKCA Partners Japanese Firm Ecovis XAT
• Manufacturing Firms in Japan Prefer India for Investments
• CAC Corporation to Acquire Majority Stake in Accel Fortline
• Japan’s Kokuyo Acquires Riddhi Enterprises
• Isuzu Earmarks Three Thousand Crores for Sri City Unit
• Japan's KITZ Corp Acquires Indian Valve Manufacturer Micro Pneumatics
• Hitachi to Invest Rs. 4,700 Crore in India in 2015-16
• Suzuki to set up Export Headquarters in India
• Japanese Companies Keen to Establish Telecom Gear Test Labs in India
• Japan's Whisky Maker Suntory May Join Race for Whyte & Mackay
• Samurai Incubate to Fund Indian Startups
Knowledge Centre: Work Hour and Overtime (Indian labour and Employment Law)
Indo-Japan Trade and Investment Highlights:
India and Japan to work IT together
Japanese firm Looking to Strengthen Aviation Defence Presence in India
Omori to Acquire Majority Stake in Multi Pack Systems
Return of Mazda in India
Currency Swap to Control Falling Rupee and Improving Financial Ties with Japan
Suzuki to make India Hub for Export of Left Wheel Drive Swift Models to other Emerging Markets
India and Japan Launch Joint Research Programs in Applied Science
The Anime Bond
Knowledge Center: Overview of Indian Labour Law
Indo Japan Trade and Investment Bulletin by Japan Desk of Corporate Professionals
Highlights:
1. Claris Lifesciences Transfers its Infusion Business to JV with Japanese Companies
2. Honda rises to become the Second Largest Two Wheeler Player in India
3. Ricoh to Expand its Business in India
4. Panasonic looking to Increase Revenue from India
5. Tube Investments of India to Invest in a JV with Japan’s Tsubamex
6. Japanese Companies Delegating Autonomy to Local Talent
and much more
Knowledge Centre: FDI Policy Update
Privatization of Air India is all the government could do to save it. The ppt analyze the reasons for the fall of Maharaja and suggest solutions on the issue.
India and Japan Trade and Investment Bulletin published by Japan Desk of Corporate Professionals---
Highlights:::
1. India to become 3rd largest Auto Market by 2016,
2. Japan's Imaging Solutions Provider keeps its top line aims robust
3. Honda targeting a greater presence in India
4. Instant Messaging Apps make it big in India
Knowledge Center: Trade Mark Law - Madrid Protocol Becomes Effective in India
Indo-Japan Trade and Investment Bulletine by Japan Desk of Corporate Professionals,
Kose Corporation Enters into its First Overseas JV with Elder Pharma
India’s Rollatainers Limited forms a 50:50 JV with Japan’s Toyo Machine
L&T to exit from JV with Komatsu
Japan’s Isuzu Motors Ltd to set up an LCV manufacturing plant in India
India-Japanese Hospital in Bangalore to Start Functioning from July
Kalyani Appointed Head of India-Japan Business Leader's Forum
Mitsubishi Electric Planning for Elevator Production in India
Japan's Kyosan Electric opens up in India
Jamna Auto may Sell its Stake in the NHK Springs JV
Pune Farmer and Japan’s NEC Corporation Join Hands to Produce High-Value
Strawberry
India’s Reliance Group enters the Top 2 Gaming Markets in the World
Tata Metaliks Ends its Collaboration with Japanese Kubota and Metal One
Mitsubishi Partners with Neuland Laboratories in an API Deal
India and Japan Cooperate to Ensure Freedom of Navigation on the High Seas
Japan Grants an Aid of USD 2.32 Billion to India
Knowledge Centre : Impact of the Companies Bill, 2012 on the Foreign Companies having a Place of Business in India
Privatization of Air India is all the government could do to save it. The ppt analyze the reasons for the fall of Maharaja and suggest solutions on the issue.
India and Japan Trade and Investment Bulletin published by Japan Desk of Corporate Professionals---
Highlights:::
1. India to become 3rd largest Auto Market by 2016,
2. Japan's Imaging Solutions Provider keeps its top line aims robust
3. Honda targeting a greater presence in India
4. Instant Messaging Apps make it big in India
Knowledge Center: Trade Mark Law - Madrid Protocol Becomes Effective in India
Indo-Japan Trade and Investment Bulletine by Japan Desk of Corporate Professionals,
Kose Corporation Enters into its First Overseas JV with Elder Pharma
India’s Rollatainers Limited forms a 50:50 JV with Japan’s Toyo Machine
L&T to exit from JV with Komatsu
Japan’s Isuzu Motors Ltd to set up an LCV manufacturing plant in India
India-Japanese Hospital in Bangalore to Start Functioning from July
Kalyani Appointed Head of India-Japan Business Leader's Forum
Mitsubishi Electric Planning for Elevator Production in India
Japan's Kyosan Electric opens up in India
Jamna Auto may Sell its Stake in the NHK Springs JV
Pune Farmer and Japan’s NEC Corporation Join Hands to Produce High-Value
Strawberry
India’s Reliance Group enters the Top 2 Gaming Markets in the World
Tata Metaliks Ends its Collaboration with Japanese Kubota and Metal One
Mitsubishi Partners with Neuland Laboratories in an API Deal
India and Japan Cooperate to Ensure Freedom of Navigation on the High Seas
Japan Grants an Aid of USD 2.32 Billion to India
Knowledge Centre : Impact of the Companies Bill, 2012 on the Foreign Companies having a Place of Business in India
Highlights of IJTIB, August 2014
Toshiba to buy 26% stake in UEM India from existing shareholders
Nissan to build Micra for European market in France instead of Chennai
Mahindra Conveyor Systems group firm forms JV with Japanese Tsubaki
India’s Karbonn to make phone batteries with a Japanese researcher
Sun Pharmaceutical, with Daiichi, to tap the Japanese market
Japan may allow India to produce parts for US-2 amphibious aircraft
Ricoh seeks to double revenue from Indian market
Japan’s Keihin corp is set to develop facilities in Bangalore
India’s Suzlon in talks for Japanese offshore wind partner
Sony plans to set up a manufacturing plant in India
Toto opens its new plant in India
Amtek and Riken join hands to form 50:50 JV
Article 'Impact of the Companies Act, 2013 on the Foreign Companies having a Place of Business in India' in Knowledge Centre
News Highlights:
-India’s Sun Pharma eyes to enter the Japanese Market
-Indian VC firm plans $1 billion fund to back Japanese Ventures
-Lumux Auto forms 55:45 JV with Japan’s Mannoh Industrial
-Tide Water Oil to form JV with Japan’s JX Nippon Oil & Energy
-Japan's Chubu in deal with India's GAIL to consider joint LNG buy
-Japan's Netmagic expands Data Center footprint in India
-Japan urges Indian firms to participate in IT Week Show
-Japan pledges Rs 15,000-cr loan for five Indian Projects
-Meidensha Corp buys 23% stake in Prime Electric
Highlights of Indo-Japan Trade & Investment Bulletin:- October 2013 (Monthly newsletter of Japan Desk of Corporate Professionals)
India- Japan Trade and Investment News
Knowledge Center: Labour Contracts in India
Highlights of Bulletine : Uniqlo to Partner Arvind Brands & Retail to Set Shop in India , National Stock Exchange (NSE) and Japan Exchange Group (JPX) Plan Nifty Futures on Osaka Stock Exchange (OSE), MicroAd of Japan Sets up India Office, Isuzu Motors Finalises India Plant Location, Mahindra Satyam and Techmatrix Join Hands to Explore Opportunities in Healthcare Market
The presentation discusses various aspects of Corporate Governance and involved issues, keeping in view the recent developments and controversies arose in conglomerates such as Tata and Infosys. It aims at portraying the extant position in filed of Corporate Governance vis-a-vis a pragmatic view of what it would be.
A Presentation given by Mr. Pavan Kumar Vijay, Past President, ICSI, Chairman-Secretarial Standards Board
on Corporate Governance through the eyes of Secretarial Standards.
Mr. Chander Sawhney, Partner & Head – Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on M&A Valuation and challenges at a Business Valuation Masterclass organised by VC Circle on 31st August, 2016. Corporate Professionals acted as the event supporting partner.
• In case of a merger valuation, the emphasis is on arriving at the relative values of the shares of the merging companies to facilitate determination of the swap ratio, hence, the purpose is not to arrive at absolute values of the shares of the companies. The key issue to be addressed is that of fairness to all shareholders. There are established legal precedence for merger valuation methodologies:
• Valuer’s role is to incorporate case specific factors and use appropriate methodologies so as to determine a fair ratio
• Usually, best to give weight ages to valuation by all methods
• Market price method and Earnings methods dominate.
• It is observed that in case of M&A, the Valuations depart from the concept of “Fair Value” as elements like Distress Sale, Desperate Buy, Comparable Transaction Multiples come into play reflecting Price than Value.
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
Mr. Chander Sawhney, Partner & Head – Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on Relative Valuation - Techniques & Application at a Business Valuation Masterclass organised by VC Circle on 31st August, 2016.
Relative Valuation in which value of an asset or liability is done by comparing it to its Peers is pervasive and preferred for ascertaining Fair Value at a point of time as it reflects the market positioning of the Industry and Peers at that time. While Discounted Cash Flow (DCF) method is applied for arriving at Fundamental Valuation, most M&A transaction are based on Relative Valuation multiples (mostly Earnings based). The valuation ratio typically expresses the valuation as a function of a measure of Key Financial Metrics like PE, EV/EBITDA, EV/Sales or Book Value Multiple.
But before using a multiple, one should know the fundamentals determining the multiple and how changes impact it. Sanity check through use of fundamental valuation method like DCF is strongly recommended.
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
Mr. Chander Sawhney, Partner & Head – Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on Valuation Principles & Techniques in Ind AS at a seminar organised by Gurgaon Branch of ICAI on 3rd September, 2016.
IndAS113 prescribes Fair Valuation definition, Techniques, Application and its Hierarchy. About 75% of the Balance Sheet Size is expected to change due to Fair Value Accounting (#IndAS109 #Financial Instruments, #IndAS102 #Share based payments, #IndAS16 Property Plant Equipments (PPE), #IndAS103 #Business combination etc. shall be impacted using #FairValue. Time to get ready, Plan Prepare and Align with the new requirements...
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
The 2015 budget had long list of expectations. On one hand; the Government has addressed major issues surrounding the foreign investors which would certainly boost capital market inflows and revive the private equity industry (by deferring GAAR by 2 years and clarifying Permanent Establishment & Indirect Transfer of Assets). On other hand; it has just rationalized the subsidies. Probably as we see growth coming in and more job creation; subsidy burden can be better dealt with by the Government. Though there are no direct benefits for the middle class. However incentives have been introduced to encourage savings. These savings are expected to fuel the infrastructure and other investment plans laid out by the Government. Certainly Foreign investors have a reason to cheer for this Pro Business; Pro Growth Government budget.
Takeover Panorama, a Monthly Newsletter by Corporate Professionals on Takeove...Corporate Professionals
-The brief synopsis of recent Judicial Pronouncements given by the SEBI, AO, SAT, Informal Guidance and Consent orders passed in the month of December in the matter of SEBI Takeover Regulations.
-The brief synopsis of latest Open Offers given by the National as well as International Acquirers under the SEBI Takeover Regulations
-Unhide the hidden but important provision of the SEBI Takeover Regulations which generally get unnoticed on a plain reading of the regulations.
Acquisition of stake in YourNest Angel Fund by Religare Global Asset Management
Acquisition of stake in Bokaro Jaypee Cement by Dalmia Bharat
Telstra Health Acquires Business of IdeaObject
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
2. Indo-Japan Trade & Investment Highlights
Denso Corporation to Delist its Shares in India
Ruchi Soya to Partner with Kagome to launch Tomato Products in India
Nissan to launch the Datsun brand in India
Japan‟s Emperor and Empress to visit India
Japan to Import more Textiles from India
Gems London merges with Japan‟s Imacbc
Japanese Air Conditioner (AC) makers gaining a strong stance in India
Honda Cars India to launch 5 new Diesel Models
Nikon Corporation expecting growing revenue from India
Panasonic and Sony working to win greater share in the Indian Electronics Market
Tochu and Toyota Tsusho contending to invest in LNG terminal in Gujarat
Komatsu to exit from its JV with L&T
Yamaha to invest INR 1500 Crores for a Manufacturing facility in Chennai
NHK Springs coming up with its Second Plant in India
Nippon Investment & Finance raises its stake in Welspun Corp
Tata Elxsi and AISB partner to incubate Tech Start-ups
India to support Japanese Candidate to the post of President, ADB
Knowledge Centre
Impact of the Companies Bill, 2012 on the Foreign Companies having a Place of
Business in India
INDEX
3. Denso Corporation to Delist its Shares in India
Denso India announced that it has approved the proposal received from its parent Denso
Corporation, Japan to voluntarily delist its equity shares from the stock exchanges. The Japanese
Corporation which currently holds 47.93% shares in Denso India and is listed on Bombay Stock
Exchange, the Madras Stock Exchange and the Delhi Stock Exchange, has proposed to acquire
26.54% stake held by the public shareholders of the company. The stock of the company hit the
upper circuit level of 5% after the announcement.
Ruchi Soya to Partner with Kagome to launch Tomato Products in India
Ruchi Soya Industries is partnering with Kagome Co, the leading Japanese tomato products
company, and Mitsui to form a joint venture to manufacture tomato products in India. Through
the joint venture in which Ruchi Soya will have a 40% stake, it aims to launch high quality
tomato puree, sauces, ketchup and other world class products in India. To be christened as Ruchi
Kagome, the venture will work closely with Indian farmers to educate local tomato producers &
setting up local support centers to handhold farming community in India.
Nissan to launch the Datsun brand in India
Nissan, the Japanese car maker will be launching its Datsun brand in India in July 2013 by
unveiling the much awaited hatchback, the first car to bear the Datsun Brand after a gap of 30
years. The car will however be commercially launched in India only in the first quarter of 2014.
The car will be produced at the Renault Nissan Alliance plant near Chennai and Nissan shall
make every effort to make the car competitive and locally relevant.
Japan’s Emperor and Empress to visit India
To celebrate the 60th
anniversary of the diplomatic ties between India and the Land of the rising
sun, Japan‟s Emperor Akihito and Empress Michiko will be visiting India around the autumn.
Akihito, who visited India once when he was crown prince, shall be the first Japanese Emperor
Indo-Japan Trade & Investment Highlights
4. to visit India. The Indian Prime Minister Manmohan Singh will also visit Japan in the near
future.
Japan to Import more Textiles from India
Japan which is the third largest importer of textiles in the world wishes to increase its share of
imports from India from 0.9 to 3 percent. This comes in the light of the comprehensive economic
partnership agreement which offers duty free imports on textiles imported from India. Chinese
textiles which form 80% of Japan‟s textile imports face an import duty of 10 to 11 percent,
which makes it clear that the Japanese retailers would want to focus on Indian products instead.
Gems London merges with Japan’s Imacbc
Gems London in which the Indian Gitanjali Gems holds 30 percent stakes through its Hong
Kong based wholly owned subsidiary Aston Luxury Group, has merged with Tokyo based
company Imacbc. After the merger, Imacbc shall now be a completely integrated unit sourcing
raw material from Thailand and China, overseeing manufacturing in China and retailing in
Japan. The Company shall sell through the TV Channel, Gems TV which has been owned by
Gems London; and also expand its existing retail network in Japan.
Japanese Air Conditioner (AC) makers gaining a strong stance in India
The Japanese air conditioner manufacturer, number one in the global market, Daikin plans to
increase its share in the Indian AC market from the current 12% to 20% in 2015 and aims to do
so by setting up dealers in all Indian cities which have a population of at least 100,000. The
Company has also launched products targeting all segments to tap a larger market share. Not
only Daikin, other Japanese AC makers like Panasonic and Hitachi, have also gained momentum
in the Indian market. Panasonic, which is comparatively new in this segment in India, has been
growing at a rate of 80-100% in the split AC segment.
Honda Cars India to launch 5 new Diesel Models
The Honda Cars India Limited (HCIL) plans to launch 5 new models in the diesel segment in an
attempt to garner an appreciable market share in the country that is rapidly „dieselising‟. HCIL
has steadily started moving into Tier I and Tier II markets and shall continue to do so by
expanding its dealership across various cities. What more, the company has announced an
5. investment of INR 2500 Crores1
(approx. $460 million) in a plant in the Alwar district of
Rajasthan to increase its plant capacity from 1.2 lakh2
units to 2.4 lakh units by the end of the
year.
Nikon Corporation expecting growing revenue from India
Japanese camera giant Nikon Corporation is expecting India to contribute to its global revenue to
the extent of 5% within the next 3 years on account of the growing demand here. The wholly
owned Indian subsidiary of the company „Nikon India Private Limited‟ is expected to clock a
sales revenue of more than INR 1050 Crores for the period 2012-13, showing a growth of 40%
from the previous fiscal. The company currently enjoys a 55% market share in the digital SLR
cameras and 27% in the compact cameras.
Panasonic and Sony working to win greater share in the Indian Electronics Market
The strategies of the Japanese electronics giants like Panasonic and Sony to overtake their South
Korean rivals in India seem to be working. Owing to the rapidly expanding middle class in the
country, the LCD TV sales have become eleven fold since 2007 and the sales for other electronic
durables like refrigerators, washing machines and air conditioners have doubled during the same
period. Panasonic has focused on developing products specifically for local demands whereas
Sony has focused on training shop workers as per the needs of the Indian retail market.
Tochu and Toyota Tsusho contending to invest in LNG terminal in Gujarat
The GSPC LNG terminal at Mundra, Gujarat, has found prospective investors in Japan‟s Tochu
and Toyota Tsusho who have been contending to invest in the said terminal for a 25% stake. The
GSPC LNG is a JV between GSPC and Adani Group with the former holding 50% stake in the
Mundra project, the latter holding 12.5%. The remaining share shall be allotted to a new strategic
investor.
Komatsu to exit from its JV with L&T
The Japan mining equipment maker Komatsu will exit from its equal Joint Venture with Indian
partner Larsen & Toubro (L&T) named “L&T Komatsu” by selling its stake to L&T. L&T
1
(1 crore = 10 million)
2
(one lakh = 100,000)
6. would continue to fulfill the Indian market requirements till Komatsu sets up its own
manufacturing facilities in India. Where L&T will continue its manufacture of the construction
equipment and hydraulic components, Komatsu will be responsible for production of Komatsu
equipment.
Yamaha to invest INR 1500 Crores for a Manufacturing facility in Chennai
Japan‟s Yamaha shall soon make India the base for manufacturing low-cost motorcycles for the
global market and has planned to invest INR 1500 Crores on a manufacturing facility at Chennai
which will also house the company‟s second R&D centre. The company plans to establish a
strong foothold in the mass volume segment by bringing a new range of low cost products and
doubling the sales by 2015.
NHK Springs coming up with its Second Plant in India
NHK Springs India Ltd has started construction of their 2nd plant in India at Sri City, which
shall come with an investment of INR 300 Crores, lay spread over 18 Acres and manufacture
coil springs and stabilizer bars for the automobile industry. The Japan based company is present
in 11 countries and its clientele includes Toyota, Nissan and Ford.
Nippon Investment & Finance raises its stake in Welspun Corp
The Japanese Private Equity unit of Daiwa Finance Company Limited, Nippon Investment and
Finance Company has raised its stake in Welspun Corp to 2.1% from the earlier 1.55% by
buying 13.9 lakh shares in a block deal worth INR 7.83 Crores. Welspun Corp, a part of the
Welspun Group, offers solutions in line pipes with a capacity to manufacture Longitudinal,
Spiral and HFERW / HFI pipes, coating, bending and double jointing facilities, thereby giving a
360 degree pipe solution to its customers.
Tata Elxsi and AISB partner to incubate Tech Start-ups
Tata Elxsi and AISB Holding Private Limited have partnered to provide incubation and greater
market access to technology start ups in Asia. Tata Elxsi runs incub@TE, an incubation centre
program to support entrepreneurs whereas Singapore‟s AISB promotes business collaborations
and investments in South East Asia, Japan and India with special focus on SMEs and
7. Entrepreneurs. For the portfolio companies, the partnership will bring access to capital, South
East Asian and Japanese markets, and complementary capabilities.
India to support Japanese Candidate to the post of President, ADB
Indian Finance Minister P. Chidambaram attended a conference hosted by the Japan National
Press Club where he told that India shall be supporting the former Japanese Vice Finance
Minister for International Affairs Takehiko Nakao for the post of the President of the Asian
Development Bank. The post fell vacant after resignation of Haruhiko Kuroda who left to join as
the Governor of the Bank of Japan.
8. Class Action Suits: Finally an effective weapon in the hands of the Stakeholders
- A concept novel in the Companies Bill3
A Class Action or a Class Suit means a lawsuit that allows a large number of people with a
common interest in a matter to sue or be sued as a group. The concept which was well prevalent
in various developed countries of USA, UK and Singapore has had no existence in India till date.
A provision relating to class suits in the legal veins of an economy gives certain edge to the
stakeholders for the retrenchment of their rights.
Salient Features of Class Action Suits
The Bill provides that a suit under this clause pertaining to Class Suits may be filed by members
or depositors or any class of them, if they are of the opinion that the management or conduct of
the affairs of the company are being conducted in a manner prejudicial to the interest of the
company, its members or depositors.
However, the Bill explicitly provides for the requisite number of members empowered to file
class action as follows:
In the case of a company having a share capital, more than
one hundred members of the company or;
such percentage of the total number of its members as may be prescribed,
or
any member or members holding more than such percentage of the issued share capital of
the company as may be prescribed.
This would be subject to the condition that the applicant or applicants has or have paid all
calls and other sums due on his or their shares;
In the case of a company not having a share capital, more than one-fifth of the total number
of its members.
3
This article is written by Ms. Shipra Wadhwa of Corporate Professionals, Advisors and Advocates and was first published in Lex Witness
(December, 2012)
Knowledge Center
Whichever is lesser
9. The requisite numbers of depositors empowered to file class action should be: More than one
hundred in number or more than such percentage of the total number of depositors as may be
prescribed, whichever is less, or any depositor or depositors to whom the company owes such
percentage of total deposits of the company as may be prescribed.
The Companies Bill provides that a Class Action Suit may be filed to the Tribunal seeking orders
against a Company in the following matters:-
Restraining from committing an act which is ultra vires the Articles or Memorandum of the
Company;
Restraining from committing breach of any provision of the company‟s Memorandum or
Articles;
Declaring a resolution altering the Memorandum or Articles of a company as void if the
resolution was passed by suppression of material facts or obtained by mis-statement to the
members or depositors;
Restraining the company and its Directors from acting on such resolution;
Restraining from doing an act which is contrary to the provisions as provided in the Bill or
any other law for the time being in force;
Restraining from taking action contrary to any resolution passed by the members;
Claiming damages or compensation or demanding any other suitable action from or
against—
- the company or its directors for any fraudulent, unlawful or wrongful act or omission or
conduct or any likely act or omission or conduct on its or their part;
- the auditor including audit firm of the company for any improper or misleading statement
of particulars made in his audit report;
- any expert or advisor or consultant or any other person for any incorrect or misleading
statement made to the company.
Further, the Bill provides that the Tribunal shall, while admitting a class action suit, take into
account that All similar applications prevalent in any jurisdiction have been consolidated into a
single application and a lead applicant is appointed amongst them
Class Action Suit vis-à-vis Suit for Oppression and Mismanagement
Section 397 and 398 of the Companies Act, 1956, as is prevalent on date, deals with the filing of
petition before the Hon‟ble Company Law Board in the cases of oppression and mismanagement.
One major practical difference between the concepts of oppression and mismanagement and that
of class suits is that the latter also allows depositors to take an action against the company
whereas no such provision is there in the former. Also noteworthy is that, in the case of suit for
oppression and mismanagement, where action can be taken only against the company and its
10. statutory appointees, the Bill allows that a class suit can be filed even against an expert or
advisor or consultant or any other person for any incorrect or misleading statement to the
company and also against an auditor for any improper or misleading particulars.
Besides theses, class action suit can be filed against the management or directors of company for
restricting them to do one or more particular action, however petition u/s 397 & 398 is filed
against management for various instances of past mismanagement and praying not to indulge in
future mismanagement of functions of company.
Impact of Change
Here I discuss the impact this particular provision relating to class action suits will have on the
stakeholders: As far as stakeholders are concerned, the provision seems to definitely be an
advantageous one to this segment. While earlier the only recourse available to the shareholders
of a company was that of filing of a petition for oppression and mismanagement, now class
action suit gives the stakeholder an additional right and several more grounds to fight for their
rights on any abuse of powers by the company, its management or for that matter even the
auditors and consultants.
The deposit holders who earlier had no other alternative than to file civil suit, are also now
enabled to take action against any wrongful acts of the company or other specified persons,
which means that they may find themselves in more secured territory now.
Including auditors and consultants of a company within the ambit of class action suit, besides the
company and management, has provided additional empowerment to the stakeholders to take a
call against such persons including the company for the specified list of wrongful acts which
may be conducted by them. Another impact of this will be that experts, advisors and auditors of a
company will now act more carefully and diligently before advising anything to the company
and its management.
Needless to say, this provision is likely to encourage faster action and speedy disposal of matters
calling immediate attention and it is a good provision for combining all similar applications filed
anywhere against the specified person for stated misconduct.
The provision to enable stakeholders to claim damages from the company or its directors and
other specified person with reference to the expenses of class suit is also a positive and
encouraging move for stakeholders. Higher penalties and mandatory imprisonment, if proved
wrong would act as a deterrent to any fraudulent, unlawful or wrongful act or for any improper
or misleading statement through.
11. Conclusion
The lack of enablement of Class Action suits in India was largely felt in the recent past when the
country was jolted by some corporate scams, mincing the trust, confidence and sentiments of the
stakeholders. At that time need for provisions which could protect the interests of and fight for
the rights of innocent stakeholders by empowering them was felt. The enactment of the
Companies Bill will thus open vistas of recourse options for the stakeholders of the company.
DISCLAIMER: The entire content of this document has been developed on the basis of relevant statutory
provisions and as per the information available at the time of the preparation. Though the author has made utmost
efforts to provide authentic information, however, the material contained in this document does not
constitute/substitute professional advice that may be required before acting on any matter. The document has been
produced only for the informational purposes; the author and the firm expressly disclaim all and any liability to any
person who has read this document, or otherwise, in respect of anything, and of consequences of anything done, or
omitted to be done by any such person in reliance upon the contents of this document.