Bureaucracy defines the March of any Nation. Govt can make policies and Bureaucracy can defeat it with impunity. To get the result the Government has to be extra cautious to rein in Bureaucracy often with carrot and stick policy.
Govt of India has already offered carrot to Bureaucracy by way of pay hike as recommended by pay commission. Time has come to crack the whip. Interestingly the most corrupt department of Govt is Income Tax department but unfortunately, Prime Minister has a blind side which is Income Tax. As regard Finance Minister, his quality as a lawyer can not be disputed but he is not an administrator and certainly not an economist. As regards his administrative capabilities, post demonetization chaos, is a proof of absence of administrative capabilities.
Martial law by Beurocracy:
Main Stream Media is now a propoganda machine for hire. Independence of journalism is a concept which is out of practice. It seems this is true not only for India but also in USA. One newspaper twisting same news headlines in two different ways! See the picture of Wall Street Journal below:
Editors & Journalists:
Editors who used to be humble beings now live in sprawling Mansions, travel in executive class and stay and dine in five star hotels. TV anchor driving Porsche is a new norm. Do news papers sell more now? How these journalists are making money?
Yesterday I read an article about economy which does not have a single numeric character. It suggested as if India has curfew like situation. But actually it is not. It is a business as usual for small transactions. Indian business is run on credit though settled in cash. Now people are making habit of carrying plastic or mobile wallet. See the market yesterday: Continue reading
Company Law has a long history. Company like institutions in India, date back roughly to 800 BCE but certainly during Mouryan Empire (322 BCE to 185 BCE). Of course the corporations were also in existence during Roman times. The company law under British Rule evolved with company law in rest of the common wealth countries.
The book on Company Law:
Corporate law in India is no less complex than any other country governed by Anglo Saxon laws. Parliament of India has enacted a new law called Companies Act, 2013 which has consolidated many previous laws into one code. It also recognizes many institutions which were in existence but were not recognized by previous law of 1956. Continue reading
Companies Act, 2013 had received the assent of the President of India and is technically on the statute book for two years. Technically because all provisions had not been enforced. Now most of the Act is in force. After the Amendment Act of 2015 and numerous (15) clarificatory amendments Companies Act is on the roll. A fully amended kindle ebook of Bare Act is here for sale on Amazon.
Short Review of companies Act.
This is a bird-eye view type of review and not a hair splitting exercise. Not now. If the corporate lawyers in Delaware were having any sleepless night, they be rest assured that this Act is as nocturnal (or moonshine if you prefer that) as its predecessor and is merely an exercise to legalise the actions already underway by way of executive and regulatory acts.
One person company.
Better and better, bat together.
Match fixing, Betting and Cricket are now bedfellows. Except Cricket Board and Government of India, every person knows where to bet and how to set (fix). Fall out is simple: do not watch crucial matches. In long term, only solution to prevent the match fixing is to legalise betting. Transparent revelation of betting statistics would wipe out fixing and would also generate revenue. It will also add to GDP by billions. Guestimates are that it is to the tune of 400 billion per annum.
What acquittal means:
Acquittal of cricketers seems to have brought Diwali like celebrations on high hopes. First of all fraud in cricket match by under performance is inherently difficult to prove. There is no direct law covering match fixing. Secondly standard proof in criminal case is required to be ‘proof without reasonable doubt.’ It is a high standard.
Therefore for standard of proof required for civil right i.e. right to play is even less. It has to be shown on the pedestal of probability that playing by Sreesanth and other crickets is not in public interest and they should not play.
Four months ago I had written this article and saved it. Since then, as expected nothing has happened. Neither Sreesanth no any other cricketer made any representation to Cricket Control Board to lift the ban nor they made any public statement in this regard.
Everything is water under the bridge. Or may be they were waiting for new management ic CCB toi take over after the death of Dalmia. Who knows?