Rs. One Lakh Sitting Fee for Directors for attending Board Meetings

01 Tuesday Apr 2014

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I am reproducing a report on the sitting fee to be paid to the Directors of a company to attend the Board/ Company Meetings. It may not be applicable to the full time/executive directors. But it is not clearly spelt out. Whether it is applicable to PSUs is also to be examined.
MUMBAI, APR 1:
Directors on company boards can now be paid more as sitting fee. They can be paid up to Rs 1 lakh per board meeting or a committee meeting thereof.

The new rules notified under Section 197 of the Companies Act 2013, said, “A company may pay sitting fee to a director for attending meetings of the board or committees thereof. Such sum as may be decided by the board of directors thereof which shall not exceed Rs 1 lakh per meeting of the board or committee thereof. “

For Independent directors and women directors, the sitting fee shall not be less than the sitting fee payable to other directors.(Business Line)

CPI(M) meets Election Commission for free and fair poll in W.Bengal

01 Tuesday Apr 2014

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A delegation of the Left Front Committee, West Bengal led by Biman Basu, Chairman and accompanied by the CPI(M) leader in Parliament Sitaram Yechury met the Election Commission of India today on the issue of conducting free and fair Lok Sabha election in West Bengal.

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Only a Non-BJP, Non-Congress Govt. at Centre – CPI(M)

01 Tuesday Apr 2014

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New Delhi, Mar 31 : As senior Congress leader A K Antony asked CPI(M) to prove its commitment to secularism by supporting his party after the elections, the Left party today said only a non-Congress alternative would be able to successfully counter BJP.

“Everyone knows by now that Congress is heading for a big defeat in these elections. Congress has also failed to counter BJP. Only a non-Congress alternative can do that,” CPI(M) General Secretary Prakash Karat told PTI.

Karat was reacting to Antony’s statement that CPI(M) should prove its sincerity in keeping communal forces at bay by cooperating in a front under Congress leadership. “If they are ready to cooperate, we will accept it,” the Defence Minister said.

CPI(M) Politburo member and Kerala unit chief Pinarayi Vijayan also reacted to Antony’s statement saying the moot question was whether Congress would cross two digits to form another government at the Centre.

“Antony says another coalition government is in store under Congress. But will Congress itself be there in such a coalition ministry, since the party’s tally is not going to cross two digits in Parliament,” asked Vijayan at a press conference in Palakkad in Kerala. (PTI)

 

IDA being reduced from 90.5% to 88.4% w.e.f. April 2014 ?

31 Monday Mar 2014

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It is understood that the IDA for PSU employees including BSNL employees will be reduced from 90.5 % from January 2014 to 88.4% from April 2014, a reduction of 2.1%. This is attributed to the decrease in the Consumer price Index (CPI) for the industrial workers.

We are at a loss to understand how the CPI has come down when the prices of all essential commodities have been going up continuously for the last so many months, without any reduction. There is clear indication that the UPA government in its last phase, before the general election has taken its revenge on the working class by manipulating the CPI. An enquiry is to be conducted on how the CPI has come down. The new government should go in to the matter to do justice to the workers

 

 

 

New Delhi, The Capital of India

31 Monday Mar 2014

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New Delhi is the capital of British India from 1st April 1912 and continues to be the Capital of free India since 15th August 1947.

Delhi was the capital of many empires. It is stated to be Indraprastha, the capital of the Pandavas, mentioned in the mythological epic Mahabharata, though no proof is available.

There are clear proof about the city from 6th BC onwards. This was the capital of Maurya Empire, Tomara, Chauhans, Slave dynasties, Lodhi, Khilji and Mogul Empires. It has changed hands umpteen times.The Mogul empire continued from 1526 when Babur attacked and conquered and made Delhi the capital. In between, the capital was shifted to Agra, but again it was brought back to Delhi. The Mogul Empire continued till 1857-58 when the last Emperor Bahadur Shah was exiled by the British after the First War of Independence was crushed.

The British made Calcutta their capital, being their major centre for a long period. Shimla was its summer capital. However, considering all factors, the capital was shifted from Calcutta to Delhi in 1912.

A new city was built at Delhi, which is the present New Delhi. The construction  was completed in 1931, including the Viceroy’s House (present Rashtrapati Bhawan), Central Secretariat buildings, Connaught Place etc. New Delhi is also called Lueton’s Delhi,  based on the architect who planned and constructed the city.

1 April 2014 is the 112 anniversary of the shifting of Capital from Calcutta to Delhi. New Delhi is one of biggest cities in the world and India’s first. It has got a population of more than 2.2 crore according to 2011 census. People from all over India has migrated to New Delhi and it is a real Metro City. It is the city of Qutab Minar, Red Fort, Humayun’s Tomb, Purana Quila and much more heritage sites.

The changes that have taken place in the last few decades after Independence have been phenomenal, both good and bad. It has expanded far beyond the old Delhi. Alwar, Baghpat, Gurgaon, Sonepat,Faridabad, Ghaziabad, Noida, Noida  and other nearby towns in UP, Haryana and Rajasthan are part of the National Capital Region centred by New Delhi.  It is still expanding. People from all over the country reach Delhi for jobs. At the same time, it is one of the most polluted city. Yamuna has moved away from the sides of the Red Fort, Humayun’s Tomb, Purana Quila etc. during the centuries. Metro has come. The Delhi Airport is one of the best in the world. It is the centre of government, the power centre. It is a city non-parallel.

Most of all, one thing. With all its best and worse, those who come to Delhi want to continue in Delhi. It has its own magic and attraction.

 

 

 

Murderous Attack on Jyoti Basu at Patna Railway Station.

31 Monday Mar 2014

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Communist leaders were and are targets to be eliminated by the ruling classes. History is full of such incidents of attacks and murders.
The attacks are to eliminate not only the communists, but also Communism. But it has always failed to achieve the target.
Most of the world communist leaders had faced threats to their life once or more.
In India also the situation is not different. It was on 31st March 1970 that Jyoti Basu was attacked in the Patna Railway Station. While he escaped miraculously, the comrade who came to receive him was shot dead.
In W.Bengal, the attack on the CPI(M) continues unchecked. 145 CPI(M) cadres have been killed after Mamata Govt. came in to power.
The ruling classes thinks that by terrorising and killing communists, communism can be finished. They are completely mistaken. Communism is a force which will come back again and again till it succeeds world over. Because it is the system, where there is no exploitation of man by man and the interests of the toiling masses are safeguarded.

CPI(M) Election Manifesto

31 Monday Mar 2014

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The CPI(M) Election Manifesto has appealed to the people to: Reject Congress, Defeat BJP, Vote for the CPI(M), Strengthen the Left For a Secular and Democratic Alternative. The Manifesto calls for the strengthening of the CPI(M) and the Left representation in the Lok Sabha as this will be the basis for strengthening the secular-democratic foundations and for a pro-people alternative.

Who Was Mangal Pandey?

29 Saturday Mar 2014

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The answer is well-known to all who have followed history and the events in the First War 0f Independence of 1857.

Mangal Pandey was the sepoy who fired the first shot against the British starting the ‘1857 Sepoy Mutiny’ as the British called it. It was on 29th March 1857. The war started, escalated and many places, including cantonments were captured by these freedom fighters. But the gains could not be sustained and the British, with their better arms and discipline recaptured every thing. Many sepoys were killed. Many were captured and killed.

And Mangal Pandey was one of them. He was hanged on 8th April 1857 to show an example to other sepoys.

We have won freedom with the sacrifice of lakh and lakh such martyrs and ordinary people. My homage to Mangal Pandey!