Refer Link :
https://aishmghrana.me/2021/07/10/welcome-multidisciplinary-firms/
Aishwarya Gahrana Mohan (Corporate Governance Professional)
Author: Business So Simple
Hi, I am business consultant working with a team of Chartered Accountants, Company Secretaries, Lawyers & MBAs.
National hackathon organized by IIT Madras & Sony India encourages citizens to come up with solutions using IoT Sensor Board
Citizens across the country can now participate in solving India-specific problems of societal interest using IoT Sensor Board through a National hackathon called ‘SAMVEDAN 2021 – Sensing Solutions for Bharat’.
Registrations for this Grand Challenge Competition have commenced on July 1st, 2021, and are open to all Indian nationals residing in India. It is being organized jointly by IIT Madras Pravartak Technologies Foundation (IITM-PTF), along with Sony India Software Centre, and is based on the Sony Semiconductor Solutions Corporation’s SPRESENSE™ Board, which participants can use for this challenge. IITM-PTF is a Technology Innovation Hub (TIH) for Sensor, Networking, Actuators, and Control Systems (SNACS) area supported by the Department of Science and Technology (DST) under the National Mission on Interdisciplinary Cyber-Physical Systems (CPS).
Calling upon Indians from all over the country to take part in this hackathon, Prof. Ashutosh Sharma, Secretary DST, Government of India, said, “The future is all about a tight convergence of physical systems with communication, computing, information and data gathering, machine sensing, autonomous decisions and actions and control. Thus sensors of all sorts will play a vital role in the Cyber-Physical Systems.”
A team with maximum of three members can register for the grand challenge, which will be held in three stages — quarterfinals, semi-finals and finals. A total of 75 ideas will be selected for the quarter-finals, and among them, 25 best ideas will be chosen for the semi-finals.
There will be seven finalists with prizes for every finalist. Prizes worth 3 Lakhs will be awarded to the best teams. Apart from the prize money, the winners will be eligible for an entrepreneurial support scheme by IIT Madras Pravartak Technologies Foundation. Further, each quarter finalist will be provided with a SPRESENSETM board free of cost by Sony Semiconductor Solutions Corporation through IITM Pravartak Technologies Foundation.
Highlighting the unique aspects of ‘SAMVEDAN 2021,’ Event Coordinator Prof. V. Kamakoti, Department of Computer Science and Engineering, IIT Madras, said, “IITM-PTF is committed not only to identify innovative solutions and talents across the country in the area of sensor-based solutions but also to provide a platform to successful start-ups that could solve societal problems of national importance. SAMVEDAN is one of the platforms to enable this. IITM-PTF plans to offer Entrepreneur-In-Residence scholarship for the top team for a year which will enable them to nurture it into a start-up.”
Speaking about this collaboration with IIT Madras, Mr. Masayuki Toriumi, Managing Director, Sony India Software Centre, said, “We are very pleased to be able to contribute to India’s problems and challenges by using Sony’s leading-edge technology, India’s excellent software engineering resources, and the ecosystem involving the public and private sectors. I hope that more and more people will take advantage of this unique opportunity to participate in the project and come up with innovative ideas that will represent Amazing India.”
For more details contact:
Sairam Radhakrishnan – IIT Madras Media Cell, Chennai
Cell: 9840108083/ Email: sairam.radhakrishnan@footprintglobal.com
Bhavani Giddu – Footprint Global Communications
Cell: 9999500262 / Email: bhavani.giddu@footprintglobal.com
Manmohan Negi – Footprint Global Communications
Cell: 96541 15779/ Email: manmohan.negi@footprintglobal.com
Ministry of Science & Technology Press release dated 09th July 2021*****
Rare superluminous supernova shining with borrowed energy source spotted
An extremely bright, hydrogen deficient, fast-evolving supernova that shines with the energy borrowed from an exotic type of neutron star with an ultra-powerful magnetic field has been spotted by Indian researchers. Deep study of such ancient spatial objects can help probe the mysteries of the early universe.
Such type of supernovae called SuperLuminous Supernova (SLSNe) is very rare. This is because they are generally originated from very massive stars (minimum mass limit is more than 25 times to that of the Sun), and the number distribution of such massive stars in our galaxy or in nearby galaxies is sparse. Among them, SLSNe-I has been counted to about 150 entities spectroscopically confirmed so far. These ancient objects are among the least understood SNe because their underlying sources are unclear, and their extremely high peak luminosity is unexplained using the conventional SN power-source model involving Ni56 – Co56 – Fe56 decay.
SN 2020ank, which was first discovered by the Zwicky Transient Facility on 2020 January 19, was studied by scientists from Aryabhatta Research Institute of Observational Sciences (ARIES) Nainital, an autonomous research institute under the Department of Science and Technology (DST) Govt. of India from February 2020 and then through the lockdown phase of March and April. The apparent look of the SN was very similar to other objects in the field. However, once the brightness was estimated, it turned out as a very blue object reflecting its brighter character.
The team observed it using special arrangements at India’s recently commissioned Devasthal Optical Telescope (DOT-3.6m) along with two other Indian telescopes: Sampurnanand Telescope-1.04m and Himalayan Chandra Telescope-2.0m. They found that the outer layers of the onion structured Supernovae had been peeled off, and the core was shining with a borrowed energy source. The study led by Amit Kumar, a Ph.D. student working under Dr. S. B. Pandey published in the Monthly Notices of the Royal Astronomical Society, suggested a possibly powering source from an exotic type of neutron star with an ultra-powerful magnetic field (magnetar) with a total ejected mass of ~ 3.6 一 7.2 times the mass of the sun.
The study established the role of 3.6. DOT in exploring very rare distant SLSNe in the future. Deeper investigations could explore the underlying physical mechanisms, possible progenitors, and environments hosting such rare explosions and their possible associations with other energetic explosions like Gamma-ray bursts (GRBs) and Fast Radio Bursts (FRBs).
Fig.1: Finding chart of SN 2020ank (∼5×4 arcmin2 field) along with other local standard stars (marked in circles, IDs 1–7). The R-band image (exposure time = 5 min) observed on 2020 March 19 using the 4K×4K CCD Imager mounted at the axial port of the 3.6m DOT facility. The location of SN is marked with a blue crosshair. North and East directions are also indicated in the image (taken from Kumar Amit et al. (, 2021, MNRAS, 502, 1678K).
Fig.2: Comparison of the rest-frame g-band light curve of SN 2020ank (in red) with other well-studied SLSNe-I (taken from Kumar Amit et al. (2021, MNRAS, 502, 1678K).
Publication details: https://academic.oup.com/mnras/article/502/2/1678/6103929
Amit Kumar et al., 2021, MNRAS, 502, 678
For more details, Amit Kumar and Dr. S. B. Pandey, 09557470888, shashi@aries.res.in can be
contacted.
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Ministry of Science & Technology Press release dated 09th July 2021
Thought of the day-10th July 2021-Karma in its effect on character (Part-1)-Swami Vivekananda
YouTube Video Link-
The word Karma is derived from the Sanskrit Kri, to do; all action
is Karma. Technically, this word also means the effects of actions.
In connection with metaphysics, it sometimes means the effects,
of which our past actions were the causes. But in Karma-Yoga we
have simply to do with the word Karma as meaning work. The
goal of mankind is knowledge. That is the one ideal placed before
us by Eastern philosophy. Pleasure is not the goal of man, but
knowledge. Pleasure and happiness come to an end. It is a mistake
to suppose that pleasure is the goal. The cause of all the miseries
we have in the world is that men foolishly think pleasure to be the
ideal to strive for. After a time man finds that it is not happiness,
but knowledge, towards which he is going, and that both pleasure
and pain are great teachers, and that he learns as much from evil
as from good. As pleasure and pain pass before his soul they have
upon it different pictures, and the result of these combined
impressions is what is called man’s “character”. If you take the
character of any man, it really is but the aggregate of tendencies,
the sum total of the bent of his mind; you will find that misery and
happiness are equal factors in the formation of that character.
Good and evil have an equal share in moulding character, and in
some instances misery is a greater teacher than happiness. In
studying the great characters the world has produced, I dare say, in
the vast majority of cases, it would be found that it was misery
that taught more than happiness, it was poverty that taught more
than wealth, it was blows that brought out their inner fire more
than praise.
Now this knowledge, again, is inherent in man. No knowledge
comes from outside; it is all inside. What we say a man “knows”,
should, in strict psychological language, be what he “discovers” or
“unveils”; what a man “learns” is really what he “discovers”, by
taking the cover off his own soul, which is a mine of infinite knowledge.
We say Newton discovered gravitation. Was it sitting anywhere in
a corner waiting for him? It was in his own mind; the time came
and he found it out. All knowledge that the world has ever
received comes from the mind; the infinite library of the universe
is in your own mind. The external world is simply the suggestion,
the occasion, which sets you to study your own mind, but the
object of your study is always your own mind. The falling of an
apple gave the suggestion to Newton, and he studied his own
mind. He rearranged all the previous links of thought in his mind
and discovered a new link among them, which we call the law of
gravitation. It was not in the apple nor in anything in the centre of
the earth.
Series continue…….
Income Tax Department conducts searches in Hyderabad
Ministry of Finance Press release dated Jul 09, 2021
Income Tax Department carried out a search and seizure operation on 06.07.2021 on a group based in Hyderabad. The group is engaged in real estate, construction, waste management and infrastructure. The activities of waste management are spread across India while real estate activities are mainly concentrated in Hyderabad.
During the course of search and seizure operation many incriminating documents, loose sheets etc were seized indicating involvement of the group in unaccounted transactions. It was found that the group had sold majority stake, to a Non-resident entity based in Singapore, in one of its group concerns during FY 2018-19 and had earned huge capital gains. The group subsequently devised various colourable schemes by means of entering into a series of share purchase/sale/Non arm’s length valued subscription and subsequent bonus issuance etc with related parties, creating a loss which was set off against the capital gains earned. Incriminating evidence/documents have been recovered, which indicate that the loss was artificially created to set off the respective capital gains. The search operation led to detection of artificial loss of approximately Rs. 1,200 crore, which is to be taxed in the hands of the respective assessees.
Further, during the course of the search, it was found that the assessee had incorrectly claimed bad debts to the tune of Rs. 288 crore on account of related party transactions, which was set off against the aforementioned profits earned. During search proceedings, incriminating documents relating to this artificial/incorrect claim were found. Unaccounted cash transactions with the associates of the group have also been detected during the search, and the quantum and modus of the same is under examination.
As a result of the search & seizure operation, and on the basis of various incriminating documents found, the entities and associates have admitted to having unaccounted income of Rs. 300 crore and have also agreed to pay due taxes.
Further investigations are in progress.
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Sovereign Gold Bond Scheme 2021-22–Series-IV- Issue price (Opened for the period July 12-16, 2021)
Ministry of Finance Press release dated 09th July 2021
In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated May 12, 2021, Sovereign Gold Bonds 2021-22 (Series IV) will be opened for the period July 12-16, 2021 with Settlement date July 20, 2021. The issue price of the Bond during the subscription period shall be Rs 4,807 (Rupees Four thousand eight hundred seven only) – per gram, as also published by RBI in their Press Release dated 9th July, 2021.
The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,757 (Rupees Four thousand seven hundred fifty seven only) per gram of gold.
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Extension of last date for submission of public comments to 30th July, 2021 for Consultation Paper on Enhancing Engagement with Stakeholders
The National Financial Reporting Authority (NFRA) has extended the last date for submission of comments on its Consultation Paper titled “Enhancing Engagement with Stakeholders: Report of Technical Advisory Committee (March 2021)” from 10th July, 2021 to 30th July 2021. Consultation paper may be viewed at https://nfra.gov.in/consultation_papers.
The comments may either be submitted by email at comments-tac.paper @nfra.gov.in or sent by post to NFRA Office at:
Secretary
National Financial Reporting Authority
7th Floor, HT House
18-20, Kasturba Gandhi Marg
New Delhi- 110001
About NFRA
The National Financial Reporting Authority (NFRA) was constituted on 01st October, 2018 by the Government of India under Sub Section (1) of Section 132 of the Companies Act, 2013. The main objective of NFRA is to protect the public interest and the interests of investors, creditors and others associated with the companies or bodies corporate governed under NFRA Rules, 2018 by establishing high quality standards of accounting and auditing and exercising effective oversight of accounting functions performed by the companies and bodies corporate and auditing functions performed by auditors.
About Consultation Paper
National Financial Reporting Authority (NFRA) has set up a Technical Advisory Committee (TAC) to, inter alia, provide NFRA with inputs from the perspective of various key stakeholders. The TAC has undertaken a consultative exercise to review NFRA’s engagement with its stakeholders, and has, in its report of March, 2021, recommended ways to enhance the same. Important recommendations of the TAC relate to formation of advisory/consulting groups, institution of fellowship programmes, publication of NFRA’s Inspection Policy, and building up of NFRA’s Regulatory Capacity. Consultation Paper has been prepared and published by NFRA incorporating its preliminary views, and proposed action plan, on the recommendations of the TAC
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Ministry of Corporate Affairs Press release dated 09th July 2021
Virtual CFO(vCFO) II CFOs on Rise Post Covid II CA/CS/CFA/MBA most preferable vCFO II
Virtual CFO (or vCFO for short) stands for virtual Chief Financial Officer. A virtual CFO is an outsourced service provider offering high skill assistance in financial requirements of an organization, just like a chief financial officer does for large organizations.A virtual CFO may be a single person or an entity.
You may refer, YouTube video link on Virtual CFO(vCFO) II CFOs on Rise Post Covid II CA/CS/CFA/MBA most preferable vCFO II
Regards,
Bipul Kumar
GIS Enabled Land Bank gaining popularity
GIS Enabled Land Bank gaining popularity;
Website has seen a 30% increase in page views each month since April 2021Posted Date:- Jul 09, 2021
The India Industrial Land Bank (IILB) is a GIS-based portal – a one-stop repository of all industrial infrastructure-related information – connectivity, infra, natural resources & terrain, plot-level information on vacant plots, line of activity, and contact details. Currently, the IILB has approximately 4000 industrial parks mapped across an area of 5.5 lakh hectare of land, serving as a decision support system for investors scouting for land remotely. The system has been integrated with industry-based GIS systems of 17 states to have details on the portal updated on a real-time basis and will achieve pan-India integration by December 2021
A mobile application (wherein login is not required) was launched on Android and iOS stores. Additional features are to be introduced soon. In parallel, the portal has been made more user friendly by allowing users to explore the portal without any login. The design and UI of the portal are being constantly improved for a better user experience
Information on Land bank is also accessible via Homepage of the Department for Promotion of Industry and Internal Trade.. Once we click on Industrial Information System, the page is redirected to https://iis.ncog.gov.in/parks/login1 for detailed accessibility to the investors. Additionally, the information on land bank may also be accessed via Invest India website, under resources tab as India Industrial Land Bank
The website has seen a 30% increase in page views each month since April 2021 and received 55000 page views in June compared to 44136 page views in May 2021 and 30153 page views in April 2021. In previous quarter (Apr – Jun 2021), total users were 13,610 out of which 12,996 were unique users with total page views of approximately 1.3 lakh
Regarding country wise visitors, after India, United States have the maximum number of visitors followed by Australia, United Kingdom, Singapore, UAE, Germany, and Indonesia. Demonstration of the IILB portal and mobile application was given at various outreach events to Industry Associations, Singapore Indian High Commission, Indian Embassy of Korea, KOTRA and Malaysian & Korean Investors.
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Ministry of Commerce & Industry Press Release dated 09th July 2021
Memorandum on Cooperation (MoC) between Competition Commission of India (CCI) and Japan Fair Trade Commission (JFTC)
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Memorandum on Cooperation (MoC) between Competition Commission of India (CCI) and Japan Fair Trade Commission (JFTC) to promote and strengthen cooperation in the matter of Competition Law and Policy.
Impact:
The approved MoC, through exchange of information, will enable CCI to emulate and learn from the experiences and lessons of its counterpart competition agency in Japan which would enhance efficiency. The same will help improve enforcement of the Competition Act, 2002 by CCI. The resultant outcomes will benefit consumers at large and will promote equity and inclusiveness.
Details:
It will envisage to promote and strengthen cooperation in the matter of Competition Law and policy through exchange of information as well as through various capacity building initiatives in the areas of technical cooperation, experience sharing and enforcement cooperation
Background:
Section 18 of the Competition Act, 2002 permits CCI to enter into any memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.
Cabinet Press release dated 08th July 2021
Business So Simple 