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Abir Lal Dey, L&L Partners
Arshi Siddiqui, L&L Partners
India, like any other country in the world, is facing the most significant hardship due to the prevailing COVID-19 pandemic which had led to lockdowns and unexpected restrictions on the public as well as the corporate sector. Even though the restrictions have been relaxed to a certain extent, their limited presence and repercussions continue to place an enormous amount of distress on the Indian economy. The considerate impact of these restrictions on the economy is palpable as a result of which compliances have taken a backseat. The government aims to pave the way for a robust and more durable Indian economy which has been reflected through various relaxations and reliefs provided by several governmental agencies. This article aims to discuss the notable measures and reliefs introduced by different governmental ministries vis-a-vis Ministry of Corporate Affairs (MCA), Insolvency and Bankruptcy Board (IBBI) and Securities and Exchange Board of India (SEBI).
Measures introduced by ‘Ministry of Corporate Affairs’:
In order to help the Companies and Limited Liability Partnerships (LLPs) in India to revive themselves from economic disruptions caused by COVID-19, MCA has taken some measures by reducing certain compliances under Companies Act, 2013 (the “Act”), & other allied Acts and rules & regulations framed thereunder.
Corporate meetings while maintaining social-distancing:
MCA realised that the meetings which are a requirement under various provisions of the “Act” could not be organised due to the disruptions caused by the pandemic in the form of lockdowns and restrictions. Hence, it decided to reduce the burden on the corporate sector by introducing the following exemptions:
- Board Meetings:
Before the pandemic, companies were allowed to hold board meetings via video and audio conferencing. However, meetings dealing with the approval of matters relating to mergers and restructuring, approval of financial statements as well as books of accounts and approval of the board’s report needed directors physically presence. Understanding the practical scenario and the fast-approaching of the end of the financial year, MCA vide notification dated June 23, 2020 has allowed having board meetings including all issues through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) without physical presence till September 30, 2020, in accordance with rule 3 of Companies (Meetings of Board and its Powers) Amendment Rules, 2020. Initially, this relaxation was provided till June 30, 2020 vide notification dated March 19, 2020.
MCA, vide circular dated March 24, 2020, further relaxed the requirement of having not more than 120 days of gap between two consecutive board meetings, by a period of 60 days till next two quarters, i.e., till September 30, 2020. The maximum gap, therefore, between two consecutive board meetings shall not be more than 180 days, till September 30, 2020.
Consequently, these measures aim at reducing the requirement to hold board meetings during the COVID-19 pandemic in adherence to social distancing measures. The relaxations will help businesses remain compliant with rules on board meetings under the “Act” wherein foreign directors will not have to travel, and the quorum of board member required will be complete which would allow the boards of these companies to continue functioning.
- Relaxation for meetings of Independent Directors:
As per the requirements of Schedule 4 of the “Act”, the Independent Directors (IDs) of a company is required to hold a Board meeting in the absence of non-independent directors. Failure to fulfil this requirement during this financial year would not be construed as a violation under the “Act”. However, MCA vide circular dated March 24, 2020 has recommended IDs to share their views amongst themselves through telephone or e-mail or any other mode of communication if they deem it to be necessary. This is beneficial for companies as considering the lockdown imposed, and in order to contain the spread, the IDs may not have adequate time and relevant information at hand to conduct such meetings.
- Extraordinary General Meetings:
In line with the aforementioned corporate compliance relaxation, MCA released circulars dated April 08, 2020 and April 13, 2020 which allow for Extraordinary General Meetings (EGMs) of companies to be conducted virtually through VC or OAVM, which will be complemented by the e-voting facility or simplified voting through registered e-mails. The circulars provide a welcome relief in light of the COVID-19 pandemic for the passing of resolutions of members concerned with special business, other than items of ordinary business or business where any person has a right to be heard. Initially, the relaxation was provided till June 30, 2020 but after receiving requests from several stakeholders, the deadline has been further extended till September 30, 2020 vide a circular dated June 15, 2020.
The circulars are crucially categorised into two parts:
- (a) Companies which are required to provide the facility of e-voting under Section 108 of the “Act” or any other company which has opted for such a facility; and
- (b) Companies which are not required to provide the facility of e-voting under the “Act”.
The rationale behind the relaxation is to allow companies to conduct EGMs for urgent and unavoidable business without requiring shareholders to be physically present. Hence, it can be concluded that companies shall use this measure as a last resort and as long as a matter is not needed to be taken upon on a compelling urgency, it should wait.
- Annual General Meetings:
Through a circular dated April 21, 2020 MCA allowed companies whose financial year ended in December, to hold their first Annual General Meeting (AGMs) within the first nine months of their current fiscal which effectively means by September 30, without it being viewed as a violation under the “Act”. Many companies requested for this leniency to comply with the social distancing norms and the nationwide lockdown in order to reduce the compliance burden on the corporate sector.
On May 05, 2020 MCA had issued a circular in line with the relaxations provided under the EGM circulars to hold AGMs through VC/ OAVM, wherein, the companies would consider only items, other than ordinary business, of special business, which are deemed unavoidable by the board. Firms would need to ensure that shareholders can cast their votes through the e-voting system in order to conduct successful virtual AGMs. Furthermore, the companies which are unable to conduct AGMs as per the aforementioned circulars are advised to prefer applications for extension of AGM under Section 96 the “Act”.
This will allow companies to conduct such meetings in a prompt manner and transact the important constituents of business while allowing the shareholders to participate virtually during the lockdown. However, the circular did not touch upon issues involving the recording of attendance of members, recording of minutes, raising queries and their responses.
Companies (Auditor’s Report) Order, 2020 (CARO 2020)
MCA had announced a new format of the report of the statutory audits of companies, namely Companies (Auditor’s Report) Order, 2020 (CARO 2020) on February 25, 2020 which replaced the earlier order under Companies (Auditor’s Report) Order, 2016. The MCA vide circular dated March 24, 2020 has made CARO 2020 applicable for all statutory audits to the financial year 2020-21 and not to the financial year 2019-20 as was decided earlier. This will significantly reduce the burden on the companies and its auditors to deal with under CARO 2020.
Declaration for Commencement of Business:
In case the due date of 6 months from the date of incorporation of a newly incorporated company for procuring certificate of commencement of business from the MCA is expiring soon, the Board need not be concerned about the violation under the “Act” in case of delay, as MCA has relaxed the period of procuring certificate of commencement of business from 6 months to 12 months from the date of incorporation of new entity.
Non-compliance of minimum residency by directors:
As per the “Act”, every company shall have at least one director who stays in India for a total period of not less than 182 (one hundred and eighty-two) days during the financial year. Considering the prolonged travel ban across several countries (including India) or in case a resident director who is a foreign national had flown back to his/her native country during this financial year and will not be able to stay in India for 182 (one hundred and eighty-two) days, MCA will not treat the non-fulfilment of the minimum stay as a non-compliance for the financial year 2019-20.
Corporate Social Responsibility:
MCA on March 23, 2020 had provided a clarificatory circular concerning the spending of the funds set aside for Corporate Social Responsibility (CSR) activities, which is a continuing commitment by businesses to integrate social and environmental concerns in their business operations, for COVID-19. Furthermore, vide circulars dated March 28, 2020 and April 10, 2020, MCA provided further clarifications and answered the following FAQs on CSR:
Contribution that shall be considered as CSR expenditure
Contribution that shall not be considered as CSR expenditure
Contribution to PM CARES Fund as eligible CSR activity under item no. (viii) of the Schedule VII of Companies Act, 2013.
Contribution made to ‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’.
Contribution made to State Disaster Management Authority to combat COVID-19.
Payment of salary/ wages to employees and workers during the lockdown period (including imposition of other social distancing requirements).
Ex gratia payment made to temporary / casual workers/ daily wage workers over and above the disbursement of wages, specifically for the purpose of fighting COVID-19.
Payment of wages to temporary or casual or daily wage workers during the lockdown period.
The market is descending rapidly and, there is a fear that an economic impact of the pandemic could last long. Hence, the battle against COVID-19 needs a large amount of money, and the aforementioned contributions would serve as a significant support to the healthcare sector and boost rehabilitation efforts. However, the NGO sector fears that as corporates would start diverting their CSR funds to PM CARES Fund as it’s a high-profile entity, NGOs dependent on the CSR funds for public service activities may not get adequate assistance.
Waiving of Additional Fees for late filing:
MCA vide circulars dated March 30, 2020 introduced a scheme namely ‘Companies Fresh Start Scheme- 2020 (CFSS-2020)’ and revised the ‘LLP Settlement Scheme, 2020’ under which any “defaulting company” has been permitted to file belated documents, which were due for filing with Registrar of Companies (RoC). There will be a moratorium from April 01, 2020 to September 30, 2020 (Moratorium Period) on levying any late/ additional fees upon filings of any returns, statements, document etc. by companies or LLPs on the MCA portal irrespective of the due date of such filings. The scheme provides immunity from initiating any proceedings for imposing a penalty only in connection with such delayed filings and such immunity is not against any substantive violation of the law. This relaxation also covers procedures related to the transfer of money remaining unpaid or unclaimed for a period of seven years in terms of the provision of Section 124(5) and transfer of shares under Section 124(6) of the “Act” read with IEPFA (Accounting, Audit, Transfer and Refund) Rules, 2016, which was clarified by MCA vide circular dated April 13, 2020.
The benefit of this scheme will be available for all defaulting companies which have previously failed to make the required filings under the “Act” as this scheme is applicable not only for the forms and returns which are due during the Moratorium Period but also for those which were already due prior to the Moratorium Period.
Through a circular dated June 17, 2020, MCA has now introduced another scheme namely, ‘Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013’ to condone delays in such filings for charges created or modified between March 01, 2020 and September 30, 2020, including those done earlier but whose filing deadline fell within this period. Hence, these seven months would not be counted towards the time limit for the respective filings. In terms of filing fees, the ministry circular said that for filings made within the mentioned period, fees as on February 29, 2020, will be payable per form. For filings made beyond this period, fees as on October 01, 2020 will be payable. The ministry took this decision as the benefit of waiver of the additional fees was not extended to charge related filings under CFSS-2020.
Creation of charge is crucial for companies that have raised funds from banks through loans or from investors through debentures. This move will benefit the investors while also protecting the companies’ officers in default from a penalty on account of non-compliance as registering such charges with RoC during lockdown posed a significant challenge on them. However, no such relief is provided in respect of the satisfaction of charge.
Relaxation to send a notice under Section 62(2) of the “Act”:
MCA vide circular dated May 11, 2020 announced that listed companies that come out with rights issues (an offering of shares made to existing shareholders in proportion to their existing shareholding) before July 31, 2020 would not be required to notify shareholders about the issue through postal or courier services and the same will not be viewed as a violation of Section 62(2) of the “Act”. It is pertinent to note that capital markets regulator SEBI has come out with guidelines that allow listed companies to serve the letter of offer, application form, and other offer material, electronically.
Deposit Repayment Reserve and Debentures:
The requirement under Section 73(2)(c) of the “Act” to create the deposit repayment reserve of 20% of deposits maturing during the financial year 2020-21 before April 30, 2020 has been allowed to be complied with till September 30, 2020.
The requirement under rule 18 of the Companies (Share Capital & Debentures) Rules, 2014 to invest or deposit at least 15% of the amount of debentures maturing in specified methods of investments or deposits before April 30, 2020, may be complied with till September 30, 2020.
These extensions in deadlines were provided through circular dated June 19, 2020. This is a welcome move. In the current market scenario, this extension will help those companies which have accepted the deposit, by facilitating the liquidity crisis. The relaxation on the timeline shall provide companies with the much-needed flexibility in these unparalleled times arising from this anomalous situation.
Measures introduced by ‘Insolvency and Bankruptcy Board of India’:
As IBBI is responsible for the implementation of the Insolvency and Bankruptcy Code, 2016 (IBC), it has shown flexibility in the form of the following measures to help businesses fight the tough period.
Increase of threshold:
Due to the large-scale economic distress caused by COVID-19, most companies are facing huge financial difficulties, hence vide notification dated March 24, 2020 IBBI and MCA had decided to raise the threshold of default under Section 4 of IBC 2016 to Rs. 1 crore from the existing threshold of Rs. 1 lakh. This move will reduce the burden on the National Company Law Tribunals (NCLT) across the country and also liberate entities from insolvency proceedings for meagre amounts.
It is interesting to note that while this move has been introduced to safeguard and protect the Micro, Small & Medium Enterprises (MSMEs) from being driven into insolvency during these onerous times, the measure may not be in line with the intent. This revision may provide relief to certain MSMEs who have financial or large operational debts. However, it fails to consider the numerous MSMEs which hold the position of “operational creditors” under the IBC whose claims are generally much below the new threshold and hence would not be able to initiate any proceedings under IBC due to the enhanced limits. This means that MSMEs will now have to look forward to civil remedies for debt recovery as the increased threshold limit would essentially drive out the operational creditors from the realms of IBC.
It is also pertinent to note that the stance on what happens to defaults in the range of Rs. 1 lakh to Rs. 1 crore that occurred before the outbreak remains ambiguous. The fate of operational debt claims where a demand notice has been issued, but insolvency has not been initiated also remains unclear. That being said, it can be opined that even if the notification will be deemed to be prospective on the basis of various judicial precedents pronounced by the Hon’ble NCLT of the Kolkata and Chennai Benches vide their Orders dated May 20, 2020 (M/s. Foseco India Limited v M/s. Om Boseco Rail Products Limited) and June 02, 2020 (M/s. Arrowline Organic Products (P) Ltd v. M/.s Rockwell Industries Limited), there still remains scope for interpretation of the notification and its wide-ranging implications would be revealed with time depending upon every particular scenario.
Exclusion of period of lockdown:
As per the new regulation ’40C’ of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 introduced vide notification dated March 29, 2020, the period of lockdown imposed by the Central Government in the wake of COVID-19 outbreak shall not be counted for the purposes of the timeline for any activity that could not be completed due to such lockdown, in relation to a corporate insolvency resolution process.
About 2,000 companies are currently undergoing resolution process under IBC. The board is of the view that given the strict timelines under IBC, it is difficult for the resolution professional (RP), the committee of creditors (CoC) and bidders to fulfil their respective obligations, during the period of lockdown. Moreover, the regulator realised that the primary duty of an RP is to make the company survive but if they did not grant the extension then all of the companies in insolvency will go into liquidation.
As per the new regulation ’47A’ of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 introduced vide notification dated April 17, 2020, the period of lockdown imposed by the Central Government in the wake of COVID-19 outbreak shall not be counted for the purposes of computation of the timeline for any task that could not be completed due to such lockdown, in relation to any liquidation process.
This move will prove to be of great assistance, as due to the lockdown the course of action which is to be performed as per the timelines provided under the liquidation process could not be performed and had this relaxation not been introduced NCLT would have been abundantly piled up with cases.
Insertion of Section 10A and Section 66(3) in IBC:
Under Article 123 of the Constitution, the power to promulgate ordinances when either of the two Houses of Parliament is not in session is conferred on President of India to deal with situations wherein urgent action is needed to be undertaken in case of an emergency in the country, which can righteously be referred to as the COVID-19 pandemic in the current situation. On account of the said power, the Hon’ble President of India has promulgated the IBC Ordinance 2020 on June 05, 2020 to effectively suspend the operation of Sections 7, 9 & 10 of IBC with respect to defaults arising on or after March 25, 2020 for a period of six months, extendable up to a maximum of one year from such date as may be notified. This has been effected by inserting new clauses, i.e., Section 10A and Section 66(3) in IBC. Section 66(3), a non-obstante clause, will provide protection to the directors of a corporate debtor as now under sub-section 66(2) no application can be filed by an RP, in respect of such defaults against which initiation of CIRP has been suspended under Section 10A of IBC. The instant Ordinance clearly enunciates that the newly inserted provision of Section 10A shall not be applicable to any defaults which were committed prior to March 25, 2020.
Firstly, this denotes that financial creditors, operational creditors and the company itself will not be able to initiate applications for corporate insolvency resolution process as long as Section 10A will be applicable. This would effectively mean that Section 14 cannot be invoked as the formation of the CoC will not take place as per the provisions of IBC. Resultantly, there would be no applicability of Section 14 of IBC as there will be the absence of moratorium for the benefit of the corporate debtor.
Secondly, this decision has been taken as due to COVID-19, the companies are facing financial stress. Hence this measure will provide relief to the corporate debtors who are facing widespread disruption of business operations across the country either in the form of finding adequate number of resolution applicants or ill functioning of logistics & poor cash flow, thus giving them a breather to revive their business.
Thirdly, this Ordinance would have more of an impact on the operational creditors which are mostly MSMEs who have been dealing with an increased amount of pressure. Considering, if buyers don’t step forward and invest into the insolvency resolution and the companies will eventually have to undergo liquidation, the instant Ordinance coupled along with the amendment increasing the minimum threshold of default from Rs. 1 lakh to Rs. 1 crore could have a disparate impact on MSMEs.
Fourthly, the present mechanism is aimed at reducing the burden of new suits before the NCLT, as only the cases pending which were filed before the suspension may continue. Hence, the corporate debtor may have to seek remedy under an alternative mechanism to enter any sort of negotiation to seek respite when the same is not available under IBC. While the present mechanism will protect the interest of small and medium enterprises by preventing fresh default and bankruptcy of entities that may become an NPA, the corporate debtor can eventually abstain creditors from selling or transferring their assets. However, it is yet to be seen that whether the intent of reducing the burden on NCLT will succeed as it is ascertained that once the expiry period is over the entire burden of the piled-up plethora of cases will fall upon the shoulders of NCLT.
Fifthly, the very foundation of IBC is based on the significant withdrawal from the debtor in possession approach to the creditor in possession and control approach. Hence, the regulatory needs to take into consideration the consequences flowing from the implementation of Section 10A by providing a median law until the suspension of Sections 7, 9 and 10 of the IBC is uplifted, otherwise entities will have to seek a remedy in the far more arduous, complex and costly provision of Section 230 of CA.
Lastly, As more clarity is being awaited from the concerned government ministry and IBBI on what could be an alternative platform for resolution of defaults going forward and the multi-fold implications of the Ordinance on various stakeholders, it is advisable for stakeholders to wait for some time rather than taking any immediate action based on the Ordinance.
Measures introduced by ‘Securities and Exchange Board of India’:
As vital economic activities require increased capital investment in businesses and processes, SEBI had announced a number of measures to ease liquidity constraints. Such regulatory relaxations will make funds more accessible to Indian corporates, individuals, etc and would support companies and other industrial bodies to function and meet the timelines during these unprecedented times. We discuss herein below some of the recent and vital relaxations granted by SEBI to ease out the compliance distress.
Advisory on disclosure of material impact of COVID–19 pandemic on listed entities under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR Regulations’):
An unforeseen lockdown beyond the control of the entities, can lead to distortions in the market due to the gaps in information available about the operations of a listed entity. Hence, it is important for a listed entity to communicate to its investors and stakeholders all available information about the impact of such a lockdown on the operations of a company.
SEBI has observed that listed entities around the world have been making disclosures regarding the impact of the COVID-19 pandemic, including that on the financial condition and results of operations, future operations, capital and financial resources, liquidity, assets, etc. In light of the same, it is observed that many listed entities have made disclosures under LODR Regulations, primarily intimating shutdown of operations due to the pandemic. However, it was observed that very few entities have disclosed the financial impact of the pandemic.
On May 20, 2020, SEBI had issued an advisory to listed entities to disclose the impact of material events of COVID-19 pandemic. As per the SEBI advisory, “while the lockdown and disruption are unanticipated and beyond the control of the entities, such events can lead to contortions in the market due to the gaps in the information available about the operations of a listed entity. Hence, a listed entity needs to ensure that all available information about the effect of these events on the company and its operations is communicated in a timely and efficacious manner to its investors and stakeholders.” On the grounds of this, entities are motivated to evaluate the impact of the COVID-19 pandemic on their business, performance and financials, both qualitatively and quantitatively, to the maximum extent possible and promulgate the same in a cogent manner by providing regular updates, as and when there are material developments by avoiding selective disclosures.
The illustrative list includes that companies will have to inform investors about the impact of COVID-19 on issues such as capital, financial resources, profitability, liquidity, ability to service debt and other financial liabilities, assets, internal financial controls, supply chain, demand for products and services and existing contracts that are not being fulfilled. Most importantly, they also have to assess and disclose the long-term impact on the business due to COVID-19.
This step will help in protecting the shareholders’, companies’ as well as the national interest. Not only will it provide the required information, it will also halt the unsubstantiated trading in stocks that may take place because of the impact of the COVID-19 on the financial performance of listed companies. However, it is pertinent to note that the entities will have to face the challenge of assessing the ever-evolving information.
Introduction of certain amendments relating to qualified institutions placement and voluntary open offers:
SEBI has introduced certain amendments to SEBI (Issue of Capital and Disclosures Requirements) Regulations, 2018 (ICDR Regulations) and SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations) vide notifications dated June 16, 2020. SEBI has eased capital raising norms for listed companies by enabling the corporates to raise more capital even more frequently.
The following amendments have been introduced:
- relaxing the norms for qualified institutions placement (QIPs) (a popular route to raise fresh capital from institutional investors) under the ICDR Regulations by easing the mandatory six-month cooling-off period between two QIPS to two weeks; and
- amending the SAST Regulations to allow promoters to acquire beyond 5% but up to 10 % in a financial year without triggering an open offer (infuse fresh capital into their company) which can be done only through the preferential issue of equity shares.
After the latest relaxation, QIP issuances could accelerate as reducing the QIP cooling-off period will help companies raise capital at regular intervals. This will induce entities to pursue QIP as a source of raising capital instead of running into debts thereby benefitting even those listed entities who have undertaken a QIP prior to the beginning of COVID-19 pandemic. The relaxations to the SAST Regulations will allow promoters to participate in preferential issues without bothering about making an open offer. Furthermore, the relaxations open up the window for promoters who are looking forward to increase their stake during the current market situation by enabling them to infuse cash into their companies.
Proposal for Relaxations for Capital Raising by Stressed Listed Companies:
In order to facilitate fund raising by listed companies that have stressed assets, SEBI had come up with a consultation paper on ‘Pricing of Preferential Issues and exemption from open offer for acquisitions in Companies having Stressed Assets’ (Consultation Paper) on April 22, 2020. In light of the aforementioned, the stock market regulator has decided to relax the pricing methodology for preferential issues by listed companies having stressed assets and exempt allottees of preferential issues from open offer obligations with immediate effect vide notifications dated June 22, 2020 by providing certain procedural relaxations under ICDR Regulations and SAST Regulations, respectively.
To qualify as ‘stressed’, a listed company needs to satisfy two of the following three conditions:
- (a) Disclosure of defaults on payment of interest / principal amount on certain loans and debt securities and such default should have continued for a period of at least 90 calendar days after occurrence of first such default;
- (b) Existence of inter-creditor agreement in terms of Reserve Bank of India’s (Prudential Framework for Resolution of Stressed Assets) Directions 2019 dated June 07, 2019; and
- (c) Downgrading of credit rating of the listed company’s financial instruments to “D”.
Companies that meet the above threshold are eligible for the following relaxations under the ICDR Regulations and SAST Regulations as has been enumerated in the Press Release dated June 23, 2020.
- “Eligible listed companies having stressed assets will be able to determine pricing of their preferential allotments at not less than the average of the weekly high and low of the volume weighted average prices (VWAP) of the related equity shares during the two weeks preceding the relevant date.”
The earlier mandate of the issue price was at the higher of 2 week or 26-week VWAP which at the current scenario may not reflect the true financial condition of the company considering the fall in the stock prices due to the pandemic. This welcome move will allow ‘stressed’ entities to attract primary investments at current market price.
- “Allottees of preferential issue in such eligible companies will be exempted from making an open offer if the acquisition is beyond the prescribed threshold or if the open offer is warranted due to change in control, in terms of Takeover Regulations.”
As per the previous SAST (Takeover) regulations, in case of change in management, it was mandatory for the acquirer to come out with an open offer to acquire the holding of those shareholders who wanted to exit the company. This offer is intended to provide the public shareholders with an opportunity to exit at the acquisition price. The proposed exemption is a relief for ‘stressed’ entities as it will protect companies in pre-insolvency and pre-debt restructuring stages.
Listed companies having “stressed assets” experience progressive fall in their share price. As a result of which the disclosures including financial results and default in servicing debts produced by such companies also infuriate the fall which leads to certain difficulties, for these firms to raise capital as per the standard norms. The Regulator seems to be keen to resolve the financial stress by allowing the listed companies to raise capital through timely financial intervention, avoid insolvency and take care of the interests of several stakeholders. It is worth noting that deprived listed companies, which do not qualify as ‘stressed’, may not be able to avail the benefit of raising capital from investors (domestic and foreign), more so because the companies need to satisfy two of the aforementioned criteria.
Operational framework for transactions in defaulted debt securities:
The current economic stress may place issuers in a position wherein they may default on their debt securities. The market regulator after receiving representations from market participants and investors vide notification dated June 23, 2020, introduced an operational framework for transactions in defaulted debt securities post maturity date/ redemption date under provisions of SEBI (Issue and Listing of Debt Securities) Regulations, 2008. SEBI also prescribed the obligations of issuers, debentures trustees, stock exchanges and depositories while permitting such transactions.
As per the current practices, the exchanges suspend trading/reporting of trades on debt securities before the redemption or maturity date. Depositories impose a restriction on off-market transfers that restricts transfers on and after the redemption date which essentially means the bondholders face a lot of restrictions while attempting to sell such bonds in the event of the occurrence of a default. SEBI as per the operational framework has decided to do away with these restrictions but with some checks.
According to SEBI’s circular, within 2 working days from the date of intimation from issuer or debenture trustee(s) that issuer has defaulted on its payment obligations, the depositories in co-ordination with stock exchanges shall update the International Securities Identification Number (ISIN), which is a code to identify a specific securities issue, master file and lift restrictions on transactions in such debt securities. The regulator has asked issuers, stock exchanges, depositories and debenture trustees to put in place necessary systems and infrastructure for implementation of this framework by June 29, 2020 and has also specified that the new guidelines would come into force from July 01, 2020.
This is a big relief for bond holders like mutual funds which may default due to distressed funds. This will help the owners of these defaulting debts to find a suitable market for them which is likely to be a distressed fund market for bonds as the regulator has put an end to the previous obligations of laying down a systematic procedure which was applicable in case of default.
MCA, IBBI and SEBI have been vigilant in understanding the impact of the COVID-19 pandemic and recognising the challenges faced by the stakeholders and various entities during these trying times. As a result, they have till now granted reliefs and relaxations, which will enable companies to avoid penalties on account of unavoidable delay in meeting their regulatory compliances. However, companies ought to comply with any other regulatory requirement, that has not explicitly been relaxed. Even if the effectiveness of these measures especially under IBC, remains to be seen due to the continuing threat of COVID-19 shortly, in the current scenario, the relaxations granted will ease the burden on the management of the companies, LLPs and stakeholders for a few months.
Abir Dey is a Partner with L&L Partners with the Banking & Finance team who has a rich experience in banking, projects & infrastructure, project financing, structured financing, insolvency and debt restructuring across various sectors. He has written this article along with Arshi Siddiqui, a student of Government Law College, Mumbai.
Views are personal.
Picture Credits: Union Minister of Finance and Corporate Affairs Nirmala Sitharaman along with SEBI Chairman Ajay Tyagi. (Kunal Patil/Hindustan Times)
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 Securities and Exchange Board of India, SEBI/LAD-NRO/GN/2020/14, (June 16, 2020).
 Securities and Exchange Board of India, Pricing of Preferential Issues and exemption from open offer for acquisitions in Companies having Stressed Assets, (April 22, 2020).
 Securities and Exchange Board of India, SEBI/LAD-NRO /GN/ 2020/18, (June 22, 2020).
 Securities and Exchange Board of India, SEBI/LAD-NRO /GN/ 2020/19, (June 22, 2020).
 Press Release, SECURITIES AND EXCHANGE BOARD OF INDIA, June 23, 2020, available at https://www.sebi.gov.in/media/press-releases/jun-2020/relaxations-for-listed-companies-having-stressed-assets_46910.html
 Securities and Exchange Board of India, SEBI/HO/DDHS/CIR/P/103/2020, (June 23, 2020).

domain: law


New liquid systems can store solar energy for up to 18 years. They can now use a small chip to repurpose stored solar energy. It could revolutionize the way we use solar energy. A decade of research went into the MOST system. They claim to be able to put the system in smartwatches and headphones. It is intended for use when the sun isn't shining or the weather is bad.
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text:
[BERLIN] The German economy ministry wants to earmark 500 million euros (S$785.3 million) from Berlin's bumper stimulus package to support the roll-out of charging stations for electric cars, two government sources told Reuters on Tuesday.
The sum, part of 2.50 billion euros specifically aimed at expanding electric vehicle infrastructure, will be targeted at private users, including households and builders, the sources said.
Berlin aims to install about one million public charging spots by 2030, up from 27,730 currently, a key step in addressing consumers' concerns about the driving range of battery-powered cars, which so far account for just 0.6 per cent of vehicles on German roads.
It also addresses criticism from utility companies, including E.ON, which have called for support to households in addition to incentives for public chargers, which are 40-50 per cent subsidised.
The ministry also suggested spending an extra 1.50 billion euros on supporting domestic battery cell production, which would more than double existing funds for that purpose, the sources said.
The remaining 500 million euros of the overall 2.50 billion euros should be earmarked for research and development, the sources added.

domain: news


Our Expertise Core Values Core Purpose Corporate Vision Corporate Mission Core Values Trust and Transparency in everything we doCustomer Delight through innovationGo beyond possible to make customer happy Core Purpose Elevating India’s image worldwide.Growth and Happiness for everyone connected.Making the world more beautiful. Corporate Vision We will strive to become a force in the global market & will see India in a leading position there. Corporate Mission We will maintain leading position in the industry by developing indigenously newer products with higher values. Goel Scientific Glass Works Ltd. is one of the leading Scientific glass fabricator in the world, who has provided the Glass Industry of India a big leap in the Global Market. We have made presence in all the populated continents and are representing & supplying our product & service worldwide. At present, we have over 2500 satisfied customers across the globe.We design and fabricate scientific and industrial glass parts from the best raw material from leading manufacture in the world. On request, we also produce glass parts from European Borosilicate Glass 3.3 tubing, complying with all major standard of DIN ISO 3585 & ASTM E438 Type I, Class A and thus offering high accuracy & excellent optical properties, which is at par with global equipment manufacturers.Understanding the Glass at it’s best, we forge the Glass with the precise mixture of craftsmanship of Potter, Blacksmith & Goldsmith with a blend of engineering, being “The Transparent Specialist”.We are the expert specialist in design, engineering, fabrication, installation & commissioning of Pilot Plant/Mini-Plant & Standard Distillation Unit for Research & Development. All glass parts are designed, fabricated, tested & installed as per international norms like ISO 3585, 3586, EN BS 1595, AD 2000 Merkblatt.Glass pilot plant parts are also available with CE Certification which adds value to the product.We have been manufacturing the entire range of glass equipment for the Indian & global market. Few of those are as below 1989Developed the unique XTRONG range of glass equipments, which possess a tightening strength as high as 3 times than earlier conventional ones and thus almost eliminated leakage and breakage problems while tightening.1990Introduced Glass Shell & Tube Heat Exchanger in Indian market for the first time.1994Started “Process Plant Division” for the development of new products for catering to the needs of borosicilate glass equipments users. The process plant division is committed to the development of newer equipment tailor made to suit the user industry requirement.1998Started manufacturing Spherical Vessels from an entirely new technique first time in the country, placing us in line with other overseas manufactures of these size vessels.2000Became the first ISO-9001 certified company in the ” Industrial glass equipment manufacturing “segment in India.2002Successfully executed a single large export order of 640,000 multi-necked flasks of various capacities whithin a time of 8 months.2003Developed 300 Litre Spherical Vessel & participate in Achema 2003, Frankfurt, Germany.2004800 DN pipe section manufacture first time in India.2005Manufactured 500 Ltr. spherical vessel.2006Participated in Acheama 2006 for 2nd time & given a seminar on “Jumbo Rotary” at Frankfurt, Germany.2007Developed FLEX-HE (Assembled Coil Type) heat exchanges.2008Awarded for outstanding performance for the year 2006 – 07 by Govt. of Gujarat, Ministry of Ind. & Mines.2009Manufactured for the first time 800 Ltr. Kettle and participated in ACHEMA – 2009 at Frankfurt, Germany for the consecutive 3rd time.2010Developed Flexi Double Jacketed Vessel (Triple Wall – Detachable Jacket)2011Developed Assembled Jacketed Vessel up to 200L Capacity.2012Participated in Achema-2012 for 4th time & presented Triple Walled Glass Reactor.2013Successfully supplied, 1st time, Anhydrous HCL Gas Generator by Calcium Chloride Route & developed Graphite Shell & Tube Heat Exchanger .2014Entered into Decorative Glass segment with brand “D’Boro”.Developed Glass Synthesizer upto 200L.2015Awarded for outstanding export performance by Honorable CM of Gujarat, Smt Anandiben Patel and 1000 DN Pipe manufactured for the first time in India. Participated in ACHEMA for the 5th time.2016National Award for “Quality Products In Micro & Small Enterprises” by Kalraj Mishra Minister of MSME on behalf of PM Shree Narendra Modi.2017Started supplying CE certified kilo lab distillation units.2018Successfully Design ,develop and supplied H2SO4 Concentration unit.2019Successfully Design ,develop and supplied HCL and HN03 Purification unit.2020Develop and supplied SKID mountef precious Metal Recovery unit successfully.


text: Altered protein profiles of T cells from asthma patients. PDE4, hydrolyzing cyclic adenosine monophosphate and/or cyclic guanosine monophosphate, was associated with the MUC5AC expression in human airway epithelial cells. β-Arrestin was suggested to play a role in T cell migration. Glutathione reductase, GST-M3 and thioredoxin were correlated with the antioxidant capacity. HSP-70 protects the cells and tissues from the deleterious effects of numerous mediators, reactive oxygen species, or tumor necrosis factor-α. Cytoskeletal proteins, including Dynein, Vimentin, Tubulin β2, might illustrate the functional changes in the T cells. Cyclin-dependent kinase was related to an abnormal repair process that might contribute to airway inflammation and remodeling. PDE, phosphodiesterase; HSP, heat shock protein; GST, glutathione S transferase.

domain: medical


text:
2nd GST Implementation Masterclass (Mumbai)
GST in India is a reality now. Many trade pundits are predicting its arrival in the Indian Business Geography from April 2017. The Rajya Sabha unanimously passed the 122nd Constitutional Amendments Bill on 3rd Aug 2016. Earlier, the finance ministry has already unveiled the Model GST Law after the approval of the empowered committee and also released a FAQs for business processes for returns and registrations. GST (Goods & Service Tax) is going to subsume most of the Indirect Taxes of our country such as Excise & Customs, Service Tax, VAT & CST, Entry Tax, etc and would bring in significant amount of change in way of doing business.
The Draft GST Law is a model, which the Central Government and each of the State Governments would use to draft their respective Central and State GST Acts. Further, a Draft of the Integrated GST (IGST) Act, 2016, which will govern levy of GST on inter-State supplies by the Central Government, is also issued. The Draft Model GST Law provides an insight on the governing provisions regarding levy and collection of GST, which consists of 162 clauses divided into 25 Chapters along with 4 schedules and Rules as to Valuation under GST. Further, the Draft Integrated (IGST) GST Act, 2016 is also issued, which consists of 33 clauses divided into 11 Chapters.
Gearing up for changes in process, training of personal and redesigning the IT systems for being GST compliant is the need of the hour. GST implementation in India will require a great level of coordination from all corners of business. It will also require a lot of change in the supply chain management, costing analysis, invoicing methodology as well as your accounting software & documentation. It is a “cross functional” issue that can affect the entire business structure and hence require input from all key business units. So in order to adapt to the changing scenario we need to prepare well in advance.
To address this larger need of the hour, CorpKonnect is organizing a full day GST Implementation Masterclass which would throw valuable insights on what changes you need to do in your existing system and processes to comply with GST and what would be it’s impact on your business. Also we shall do in in-depth analysis of the Model GST Law to understand its intricacies.
Benefits of Attending:
- Core analysis of the Model GST Law to understand its various intricacies
- Understand the basic mechanism of GST
- Understanding the technology infrastructure required in GST implementation
- Better preparedness for implementation to minimize risk
- Smoothening your transition to GST from the existing system
Who should Attend
- CFOs, Director Finance and other Senior Finance Professionals
- Tax Heads and Senior Tax Professionals
- Indirect Tax professionals such as VP, AVP, Sr. Managers and Managers
- Tax Lawyers
- Practising Chartered Accountants
- Supply Chain Professionals, Legal Professionals and all those stake holders who get affected by GST
Technical Session 1: Introduction to GST
- The GST model in India
- Meaning of Goods and Services
- Meaning and scope of supply
- Point of Taxation
- Times of Supply Rules
Technical Session 2: Input Tax Credit
- Taking input tax credit
- Taking input tax credit in respect of inputs sent for job work
- Distribution of credit by Input Service Distributor
- Recovery of credit distributed in excess
- Transfer of input tax credit
Levy of Tax and Exemptions
Refund and Returns
Technical Session 3: IGST Model for Inter State Supply
The Integrated Goods And Services Tax Act, 2016
- Principles of Determination of place supply in Inter State Supply
- Levy and collection of IGST
- Place of supply of goods
- Place of supply of services
Payment of tax, interest, penalty and other amounts
Technical Session 4: Migration to GST - Are you Ready?
- What is going to change for you?
- Changes required in the entire value chain
- Major impact on your F&A, Legal, HR and other functions
- Changes in the entire Supply-chain management
- Change in IT systems
- Pricing, Costing, Margins
- Formation of Steering Committees
- Vendor Management
Lakshmikumaran & Sridharan
Badri Narayanan is a litigator practicing at the firm in the area of tax, intellectual property and regulatory laws. His practice has focused on advocacy practice for services and technology companies before the Bombay High Court, Tribunals and quasi-judicial authorities.
Prior to joining the firm, Mr. Narayanan practiced as an intellectual property lawyer in the United States and has drafted and negotiated intellectual property licensing and cross-licensing arrangements. He was also involved in several patent litigation matters in the United States.
Mr. Narayanan holds Bachelor’s Degree in Physics from St. Stephen’s College, University of Delhi, Law Degree from the University of London and Master’s Degree in Law from the Cornell Law School. He is admitted to practice in India and New York and is a qualified patent agent in India.
Partner, Indirect Taxation
SKP Business Consulting LLP
With over 14 years of experience, Pratik heads the Indirect Tax practice at SKP. A qualified Chartered Accountant, he also holds an Advance Diploma in Indirect Taxes. Pratik has successfully handled indirect taxation matters across sectors such as pharmaceuticals, construction, infrastructure, information technology, hygiene, finance, oil refineries, manufacturing and services.
He specialises in handling VAT compliances across India, advising clients on tax efficient supply chain set-up and distribution, conducting diagnostic reviews on potential indirect tax leakages, preparing financial models and structuring transactions to mitigate tax exposure. He has substantial expertise in conducting due diligence reviews, feasibility studies and location analysis for business establishments in India. He has assisted various companies in setting up in Special Economic Zones (SEZs) in India. Apart from writing various articles for prominent taxation alert / update websites for GST, he has conducted seminars on implementation of GST to several trade associations such as National Association of Software and services Companies (NASSCOM), CII, Swiss India Chamber of Commerce, Swiss Global Enterprise, etc.
Grant Thornton India LLP
He started his career with the RPG Group (CEAT) and spent 10 years handling their sales tax matters. He also has 14 years of consulting experience with a Big 4 Firm providing high-end VAT structuring, VAT compliance project management, litigation and representational work for several large corporates across various sectors which includes Manufacturing, Real Estate, Telecom, Media, FMCG, and Pharma. In his role of project manager for several multi national companies, Biren was instrumental in structuring the transition from erstwhile Sales Tax regime to the Value Added system of taxation.
Senior Partner - Indirect Tax
CNK & Associates LLP
Balraj Sahani Marg, Juhu Beach, Mumbai
Registration Fees: The investment for this full day training program is INR 8,500 + 15% Service Tax per delegate
Early Bird Discount: 10% early bird discount on 2 or more registrations till 18th Aug 2016
For Online Registration through Credit Card/Debit Card: Please Click Here
For Offline registration through Cheque/DD/NEFT, please contact
Mob: +91- 8130826342

domain: finance


text:
Penn Carnage Ii Surf Spinning Rod 9-foot 2-piece Rod Medium/ Light Power Medium/ Fast Action
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- Number Of Pieces: 2
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- Line Rating: 8-20 pounds
- Number Of Guides: 7
- Guide Type: Alconite
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- Lue Rating: 0.5 2 ounces
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- Type: Spinning
- Length: 8'
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|Length||8' - 9'|
|Dimensions||3"(W) 3"(H) 55"(D)|
|Warranty||1 year Limited Manufacturer|
|Country of Origin||China|
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domain: hobby


text:
APA Format and No Plagiarisma 5- to 7-page proposal/research plan for single-system (subject) evaluation for your work with Paula Cortez. Identify the problems that you will target and the outcomes you will measure, select an appropriate intervention or interventions (including length of time), and identify an appropriate evaluation plan.Include a description of:The problem(s) that are the focus of treatmentThe intervention approach, including length of time, so that it can be replicatedA summary of the literature that you reviewed that led you to select this intervention approachThe purpose for conducting a single-system (subject) research evaluationThe measures for evaluating the outcomes and observing change including:Evidence from your literature search about the nature of the measuresThe validity and reliability of the measuresHow baseline measures will be obtainedHow often follow-up measures will be administeredThe criteria that you would use to determine whether the intervention is effectiveHow the periodic measurements could assist you in your ongoing work with PaulaLike before use file attached just APA format and NO Palagrism
Unformatted Attachment Preview
The problem(s) that are the focus of treatment
Paula Cortez is a 43-year-old female who recently found out she is pregnant. She has
comorbid conditions consisting of having a diagnosis of Bipolar Disorder, Hepatitis C, and is
HIV positive. In addition to her HIV diagnosis, other medical conditions include her right hand
being semi-paralyzed and foot ulcers that occasionally flare up limiting her mobility. Paula has a
history of non-compliance with her mental health and medical medications, leading to previous
decompensation episodes and several involuntary psychiatric hospitalizations. Until recent
stressful events, it had been three years since her last hospitalization. The involuntary
hospitalization was due to increased paranoia and suicidal ideations. Due to her limited insight
about her medical conditions, Paula’s lack of compliance with prescribed medications can lead to
a decline in her physical health. One main concern is that Paula lacks social support and has
recently shared with her social worker that her child’s father has been harassing her and is
causing distress. Based on her presenting issues, Paula’s treatment will focus on addressing her
medical conditions, mental health issues, and pregnancy, while building on her strengths and
supporting her weaknesses. Throughout her treatment outcomes that will be measured include
improved insight into her issues and how they can affect her pregnancy, compliance with
medications, improvement of mental health and symptoms.
The intervention approach, including length of time, so that it can be replicated
After an evaluation of Paula’s presenting problems and expected outcomes, the best
intervention strategy will consist of an Assertive Community Treatment (ACT) approach. ACT
is a long-term treatment solution designed to reduce recidivism in psychiatric hospitalizations
while supporting community placement. ACT is a wraparound service that includes a
multidisciplinary team that focuses on the individuals with severe and persistent mental illness.
The team involves case management, outpatient services, psychoeducation, collaborative care,
and peer support (Management Strategies to Reduce Psychiatric Readmissions, 2015). Other
components of the approach involve court directed services which do not apply to Paula. Paula
will receive optimum benefit from the ACT intervention after she has been engaged for a period
of one year.
A summary of the literature that you reviewed that led you to select this
People with serious mental illness have several barriers that contribute to their poor health
outcomes due to their limited ability to seek and comply with good health practices. In the focus
of primary care providers, when these individuals to seek care they typically are presenting with
acute symptoms, leading to their more chronic conditions being overlooked (Vanderlip,
Williams, Fiedorowicz, & Katon, 2014). In regards to their mental health care, they are often
non-compliant with follow-up appointments, have poor medication compliance, and have a poor
appreciation for their mental illness causing decompensation episodes, contributing to increased
chance of substance abuse and potential contacts with law enforcement. These individuals also
are more likely to lack appropriate family and social support. The assertive community outreach
approach is designed to provide wraparound services that are individualized for the client so that
they have consistent support without having multiple providers. The psychiatrist provides
medication management to treat the mental illness. A social worker provides psychoeducation to
the client on an individual basis and implements skills such as motivational interviewing.
Motivational Interviewing (MI) addresses ambivalence in treatment goals. Research has shown
that motivational interviewing leads to better treatment engagement and higher motivation than
those who did not receive this intervention (Kortrijk, Mulder, Roosenschoon, & Wiersma, 2010).
Additionally, research has indicated that less motivated individuals that receive MI can
potentially benefit more from ACT (2010). ACT teams can include peer support services which
consist of individuals who are recovered mental health patients who provide support and
mentoring to the patient (Management Strategies to Reduce Psychiatric Readmissions, 2015).
Peer support has been connected to lower hospital readmissions (2015). Case managers are a key
component of the ACT team. Case management services include assessing the client’s needs,
planning, and collaborating and coordinating care with other care providers (2015). They are
involved with monitoring and evaluating their care. Case management services also encompass
social, educational, vocational, and other services that might be indicated for the patient (2015).
They are central to the patient and their systems and prove to be the primary link between the
patient and their multidisciplinary team.
Paula has been diagnosed with HIV and is currently undergoing Highly Active AntiRetroviral Therapy (HAART), which is a combination of an effective treatment of drugs that
control the progression of the HIV (Pande &Hande, 2014). Patients who have been diagnosed
with HIV/AIDS have their own set of challenges such as being burdened with daily doses of
cumbersome pills, food limitations, negative effects caused by drug interactions, reduced quality
of life (2014), just to name a few. As a result of the challenges, HAART has a poor compliance
rate. It is, however, safe for use with pregnant and breastfeeding women, as it helps reduce the
incidence of passing the infection to the baby. When a mother delivers, the infant will require
specific treatment methods for a period of 6 weeks (2014). When taken properly, HARRT can be
very effective in treating several conditions related to the effects of the HIV virus. However, the
treatment requires a 95 percent compliance rate with medications, proper storage of the
medication, and avoidance of treatments that might alter blood levels (2014). Individuals who
are receiving this treatment would benefit from supportive services in order to improve
The purpose for conducting a single-system (subject) research evaluation
Single-system research (SSR) offers benefits that other research methods cannot
accomplish. In social work research, the most relevant objective is to determine what will work
in the practice setting to accomplish specific goals, under a specific set of conditions, and for
which population. SSR provides research that contributes quality outcomes because the tests are
performed under the most optimal and rigorous conditions (Mattaini, 2010). Research utilizing
SSR methods provides knowledge about interventions that are not only individualized, but also
can be generalized (2010). Because one subject is studied in natural settings and interventions
are adjusted and manipulated based on the individual client’s circumstances and/or progress.
Single-system designs plot the changes made by the client and observe whether the interventions
are causing the changes in behavior as they occur and the design focuses on the impacts of the
worker-introduced interventions (Dudley, 2014, p. 86).
The measures for evaluating the outcomes and observing change
The focus of Paula’s treatment is to improve her insight into her issues and increase
compliance with medications in efforts to decrease her adverse medical and mental health
symptoms. Some measures that can be used to evaluate outcomes include direct observations,
self-monitoring by the client, standardized instruments completed by the client or other raters, the
use of goal attainment scales (GAS), or behaviorally anchored rating scales (BARS) (Mattaini,
2010, p. 246). Although working with the client to develop a charting system that allows the
client to record and track their own progress is an option for self-monitoring, the better
alternative is to avoid planning the self-monitoring intervention and simply monitor
improvements through interactions with the client and introduce further experimental
manipulation as needed. In Paula’s case her plan will include attending all of her medical
appointments with her physician treating her HIV condition, attending all of her appointments
with her psychiatrist, her social worker, case manager, and her Obstetrician Gynecologist
(OBGYN) who will provide her with their own treatment interventions. The expectation would
be that Paula would report that she has attended all of her appointments as required, takes her
medication daily, as prescribed, and report an absence or decrease in mental health issues.
Baseline measures are obtained by Paula’s treatment history and self-report of her behavior of
medication non-compliance, re-admissions to psychiatric hospitalization due to psychotic
symptoms of paranoia and suicidal ideations. Paula’s progress will be measured by her reports
during her meetings with each provider. Self-reports about medication compliance and symptom
improvement will be obtained from Paula on a bi-weekly basis with each provider. Standardized
instruments completed by other raters such as her treatment providers will be utilized. Her
physician will test her blood levels for compliance with medications and also through direct
observations, monitor the improvements in her foot condition that worsens when she is not
compliant with medications. Her psychiatrist will use rating scales completed by Paula that test
the improvements of her symptoms of anxiety, depression and suicidal thoughts, as well as selfreports of improvements and medication compliance. Her social worker will utilize Paula’s self-
report to address these symptoms and her case manager will measure through observation,
Paula’s compliance with medical appointments because she will be primarily coordinating her
The criteria that you would use to determine whether the intervention is effective
I would determine that the ACT intervention is effective if Paula has not had any
hospitalizations, shows an improvement in health conditions, and reports having significantly
improved insight about her conditions.
How the periodic measurements could assist you in your ongoing work with Paula
Utilizing the periodic measurements will help provide me in my work with Paula by
helping her see the significant progress that she has made and improve her self-esteem by
reinforcing the fact that she has made significant progress. Building on her strengths and
improving her weaknesses will help with motivational interviewing with Paula. Furthermore,
she will be able to become more independent.
Dudley, J. R. (2014). Social work evaluation: Enhancing what we do. (2nd ed.) Chicago, IL:
Management Strategies To Reduce Psychiatric Readmissions (2015). Effective Healthcare
Program. Number 21. Retrieved from
Mattaini, M. A. (2010). Single-system studies. In B. Thyer (Ed.), The handbook of social work
research methods (2nd ed., pp. 241–273). Thousand Oaks, CA: Sage. (PDF)
Pande, P., Hande, S. (2014). HAART (Highly Active Anti-Retroviral Therapy): An Overview.
Journal Marine Medical Society, 16(2), 106-109. Retrieved from
Plummer, S.-B., Makris, S., & Brocksen S. (Eds.). (2014b). Social work case studies:
Concentration year. Baltimore, MD: Laureate International Universities Publishing.
[Vital Source e-reader].
Vanderlip, E., Williams, N., Fiedorowicz, J., & Katon, W. (2014). Exploring Primary Care
Activities in ACT Teams. Community Mental Health Journal, 50(4), 466-473.
Purchase answer to see full


Guilin of huarong supermarket flyer real name appears on reports. For men loved one recover vindicated notice a
On November 2, the net exposure of huarong supermarket in Guilin City poster advertised a real-name reporting letter, 7 employees of the supermarket sign, reported food and drug supervision Bureau of Guilin, 3 investigators, in handling a case of its request property, caught the attention of many members of the public and users. Guilin city food and Drug Administration responded by saying that investigation team has been set up to investigate the matter.
NET: supermarket posters issued reports
From November 1, the number of huarong supermarket in Guilin on the flyer, appeared a letter of report to the employee's real name. Posters printed 20,000 copies distributed to huarong supermarket over more than 120 stores for people to receive. Users also report into pictures on the poster on the Internet. The afternoon of November 2, Nan Guo Morning Post reporter went to Guilin huarong supermarket company interviews.
Mo said, head of the company's original business, on May 12 this year at 3 o'clock in the afternoon, a Chief food and drug supervision Bureau in Guilin Huang, law enforcement officers and all came to the company with business surveys, said some corporate zhengyang shops reported selling a foreign brand condoms are the three products. Company responsible for merchandise sales, Wang, with Huang and others investigation on the matter.
Staff: two law enforcement officials took more than 1300 Yuan property
Wang said a staff member, in the period from May to July, Huang x, 3 law enforcement personnel have to ten or twenty times the company, called to assist in the investigation and to provide the relevant documents, the company is also to cooperate with the investigation and provided a relevant certificate materials. Law enforcement officials said all of a sudden have to fill one of the material, then I say investigation and treatment education, mainly to appease complaints from guests, said guest wrote a 6 page report material. On June 12, 3 people such as Huang went to the company's business, see sample 2 packs on the shelf date, saying that is a good thing, ask there is no extra packs of 1, said they had 3 people. Wang said no, this is the company buying back the sample, nothing more. Later, after law enforcement officers carry the box carrying a group of items to leave. Lee of the company responsible for the processing operations, in order to facilitate collection, 500 law enforcement officers were also sent a voucher, the voucher redeemed merchandise. Then this one time, 3 when law enforcement officers also took away a number of items. Incomplete statistics by the company, 3 law enforcement officers take away property worth a total of more than 1300 two Yuan.
Huarong supermarket company, Guilin city, a police official said the company believes sales of condoms there is no question, but when reporting to the Bureau of food and drug inspection detachment of Guilin city, consider that there are problems, also recommended in the case of confiscated money reached 1.55 million Yuan, also called him the leadership of the food and drug supervision departments to discuss will be reduced and confiscated money to more than 200,000 yuan, and asked him to agree with.
On October 22, the food and drug supervision Bureau of Guilin city written decision of administrative penalty, decided to foreclosure totals more than 226,000 yuan. On October 23, the company confiscated money, but refuses to accept the decision on administrative penalty, ready to apply for administrative reconsideration or sue in court.
As early as August 18, 7 employees who witnessed the law enforcement personnel to take property, that in the course of their investigations, law enforcement request property is illegal, reported jointly wrote the letter and handed a copy to the food and drug supervision Bureau of Guilin city. But the report does not result, the company will report letter on supermarket flyers in the November 1, said if the report is inconclusive, and will continue to go down.
Official: is investigating this matter
On November 2, Guilin, Director of the food and drug administration monitoring unit introduced a, also received a report and investigate, but 7 people and ginger and a legal representative do not come forward to assist in the investigation, nor does it provide any substantive evidence. 3 law enforcement personnel, including Huang investigation, 3 denied asking for per capita property and sign off on the investigation. Because of huarong supermarket company in Guilin city they do not match, so the first investigation cannot proceed. On November 2, the Internet post, and huarong supermarket posters appear to report the letter, Bureau investigators monitored room on November 2 to huarong supermarket company in Guilin city for further investigation. In addition, the legal adviser of this Council are collaborating with huarong supermarket company, Guilin city, contact the legal counsel, the matter will be disposed of according to law.


|Publication number||US7180992 B2|
|Application number||US 10/644,079|
|Publication date||Feb 20, 2007|
|Filing date||Aug 20, 2003|
|Priority date||Aug 21, 2002|
|Also published as||DE10238286A1, DE10238286B4, DE50313577D1, EP1392043A1, EP1392043B1, US20040218553|
|Publication number||10644079, 644079, US 7180992 B2, US 7180992B2, US-B2-7180992, US7180992 B2, US7180992B2|
|Inventors||Peter Friedrich, Norbert Löbig|
|Original Assignee||Siemens Aktiengesellschaft|
|Export Citation||BiBTeX, EndNote, RefMan|
|Patent Citations (6), Referenced by (2), Classifications (15), Legal Events (6)|
|External Links: USPTO, USPTO Assignment, Espacenet|
This application claims priority to German application Application No. 10238286.7 which was filed in the German language on Aug. 21, 2002, the contents of which is hereby incorporated by reference.
The invention relates to a method and a device for providing conferences, and in particular, by providing a control interface between a recognition or announcement/dialog function and a conference management function.
With the prior art, services for audio conferences are part of the essential range of services offered by voice switching networks. They are provided by the switching centers of the network or even by network elements external to the switching centers. The conference function here is based on a combined function for the audio stream of the participating conferees, which is provided by a specific hardware unit with DSP capacity (Digital Signal Processor).
In conventional cases, where the useful channel of a connection is fed to the switching center, the conference functions and the announcement and tone functions required for these can be provided by peripheral devices or external devices equipped with corresponding functionality. If, however, the useful data is conveyed outside the switching center in a packet network, preferably at least one external conference system is used for this. The system has interfaces with the packet network for the useful data of the conference. The useful data of the conference here is either the useful data of the individual conferees or the announcements/dialogs and tones to be input as well as the combined signal to be distributed to the conferees, which is generated via at least one conference bridge. The external conference system can also have a control interface with the switching center controlling connections in the packet network conveyed outside the switching center, in order to control the required basic functions during the conference or to initiate the interspersion of announcements/dialogs and tones generated in the external conference system for example.
Essentially conference services have a range of conference features, which can be differentiated and defined in respect of the initiation and control of the progress of the conference:
There are on the one hand conference features, with which users are included as participants by DIAL-IN (dialing of the conferee into the conference) or by DIAL-OUT (calling of the conferee out of the conference), i.e. the conference process is characterized by the availability of the conferees (e.g. by connecting participants to the conference or the departure of participants from the conference).
On the other hand, there are conference features which are characterized by the conference leader or the conferees of the controlled conferences. For example, conferees can be connected, switched to silent or disconnected from the conference by a conference leader by means of appropriate DSS1 signaling (ETSI ADD-ON conference) or via an additional graphic control system on a PC-type terminal. These conference features controlling the conference are often available to the Conference Service Operator, who can manage the conference resources in the network and monitor the conference service.
With regard to videoconferences, which are increasingly used in packet-based networks, the need for conference control is increased by the participating conferees, who increasingly wish to influence the image to be viewed. This includes the selection of one or more participants during the conference, voice-activated switching of the image to the conferees speaking at the time, simultaneous image availability for a certain number of conferees and the additional insertion of documents.
Conversely, existing conference solutions inform the participants currently in a conference about the inclusion of a further conferee in the conference or the fact that a conferee has left the conference by means of conference tones and/or by means of generally few conference announcements of corresponding content.
With regard to the initiation and control of conferences, the following distinction is made between conference services:
With the ETSI-ADD-ON conference, control is by definition only possible in a local switching center. It is initiated and controlled via conferee signaling (numerical sequence control). It is primarily available in TDM-based but also in packet-based networks, the switching centers of which support conventional participant signaling and can be initiated directly (AD HOC).
The PRESET conference represents a compromise between AD HOC initiation and a simultaneously predefined conferee list.
The PHONEMEET conference is offered as a general network service (public conference). This service, which is very similar to the internet chat service but is much longer established, provides a Service Code, which can be used to dial into a conference on a specific topic and have discussions with conferees who have already dialed into the topic. Conferees do not generally identify themselves and have no guarantee that they will be connected to a repeat joint conference when they dial in again. The characterizing feature of such a service is that participants, who generally do not know each other, can have discussions in the public network. No control by conferees is required, and automatic monitoring of disruptive parties is not available. Some network operators have operators to monitor conference availability and the undisrupted progress of the conference, the operators identifying and isolating hostile disruptive parties by sporadically listening in.
Pre-reserved conferences are available as DIAL-IN, DIAL-OUT or MIXED DIAL-IN/DIAL-OUT conferences. They are particularly useful for business customers. One disadvantage is that pre-reservation and conference planning have to be carried out manually and there is therefore no AD HOC availability.
For the purposes of completeness, reference should be made to conference services with Web-based operator interfaces (such as Siemens SURPASS WEBCONFER) and TERMINAL conferences, which are supported according to certain signaling standards. The former can be booked and controlled via internet access. The advantage of Web-based control with Status Display is limited by the disadvantage of internet access with the possible requirement of an additional terminal for the conference leader and lack of interaction with the conferees. TERMINAL conferences are for example conferences for audio, video and data, which depend on the terminal functions and are possible with the specifications of the H.323 Standard (or even the SIP Standard), with which conventional terminals cannot be used. A central bridge is superfluous here. Major conferences with a large number of participants are however not possible due to the limited performance of the terminals. A further disadvantage is the increased bandwidth requirement between conferees.
Resources have to be made available in the network for all conference services. As conference services represent a cost-intensive investment for network operators, they are not made available to an unlimited degree in the network. This means increased control costs; for as well as the interactions between the conference leader and the participants during the conference, the time and date of the conference have to be agreed, the availability of the conferees and the appropriate conference resources has to be established and participants have to be informed of the time and access authorization, to ensure the success of the conference.
Conferences which can be initiated on an AD HOC basis from experience have a control interface characterized by numerical sequence control of the telephony or a graphic control interface connected to a higher quality, intelligent, possibly additional, terminal, which set the limits for the sporadically immediate operability of any terminal. The system tones and announcements made available to the conferees only allow general conclusions about the progress and status of the conference. As far as pre-reserved conferences are concerned, in some circumstances significant manual interaction is required before the start of the conference. Such impediments make the deployment, use and success of conference solutions problematic.
The invention generally relates to simplified operation and control of conference services.
In one embodiment of the invention, there is a control interface provided between an announcement/dialog function and a conference management function, and a voice recognition functionality is provided. This considerably simplifies the preparation and operation/control of conference services. For example, the functional input via numerical sequences controlling the conference is no longer necessary, as the techniques based on the voice recognition functionality support a user-friendlier dialog between man and machine. Input can therefore be easily corrected by participants or operators. Essentially, operation is simplified for all currently known conference types in TDM and packet-based network environments, in particular for DIAL-IN, DIAL-OUT, MIXED DIAL-IN/OUT, ETSI ADD-ON, PHONEMEET with/without operator monitoring, PRESET conference.
The conference functionality, in particular of conferences initiated on an AD HOC basis, is also decoupled from participant signaling and made available at remote level (i.e. more generally in further switching systems possibly belonging to competitor network operators). Additional devices with graphic operator interfaces are not necessary and operator input is minimized in respect of monitoring, booking and/or the procedural organization of conferences.
One advantage of the invention is the positive impact on conference services. The ETSI ADD-ON conference functionality is not only available and easy to operate in the local switching center, but also in any TDM-based or packet-based network through the use of techniques based on (DTMF) voice recognition, to overcome the restrictions of participant signaling. Techniques based on voice recognition are advantageously used, when compressive coding methods are used particularly in packet-based networks, which do not guarantee disruption-free DTMF transmission. Booking and management processes for conference services can also be automated using corresponding IVR logic (Interactive Voice Response), such as recognition of disruptive parties and intercept initiation and control of follow-up activities by voice recognition mechanisms.
The invention is described in more detail below with reference to the drawings, in which:
The conferees' useful data is switched through under the control of the switching center Vst and fed to these interface devices MCU. The useful data streams are also combined here.
The conference function KF essentially represents a conventional combined function of multiple input signals for audio or video signals. It also supports the distribution function for further information as well. The platform to be provided for this is characterized by telephony interfaces for adaptation to the network and signaling as well as by DSP-based combined functions for the audio stream and where appropriate further functions for controlling video output (e.g. Voice Activated Video Switching).
Conference features such as DIAL-IN or DIAL-OUT are supported in conference connections by the conference function KF and their descriptive data is supplied via a control interface to a conference management function KM. The latter can intervene in a controlling manner at any time in the configuration of an ongoing conference via this interface. The SNMP protocol is used for example as the protocol between the conference management function KM and the conference system K.
There are conferees who are distinguished in that their input useful data stream is accessed before inclusion in the combined conference signal and fed to an announcement and dialog function IVR for a certain time for the purposes of monitoring for disruptive activity or to identify legitimate input controlling the conference (e.g. by the conference leader). An announcement and dialog function IVR can be permanently or temporarily assigned here via a control interface S between the announcement and dialog function IVR and the conference management function KM.
The announcement and dialog function IVR operates on at least one separate device or if necessary even collocated with the function KM described in more detail below on a device VoxP. It is used for dialog management with input recognition for the conference leader or the conferees, with DTMF input, menu-driven dialog or preferably keyword spotting in the natural dialog being used. The hardware platform required for the announcement and dialog function IVR is generally characterized due to the performance required in public networks by telephony interfaces, which undertake adaptation to the network technology and signaling, as well as by hardware and software, which carry out voice recognition tasks (e.g. DSPs, voice recognition algorithms).
The conference-specific dialog processes necessary for the announcement and dialog function IVR are stored appropriately on a content server CS, e.g. in the form of VoiceXML scripts, which are produced based on the conference configuration and give the complete dialog sequence for the IVR system.
According to one embodiment of the invention, the announcement and dialog function IVR has a control interface S with the conference management function KM, with which it is able to output booking data for a conference or the initial conference parameters of an AD HOC conference to the conference management function for further processing. Conversely, the announcement and dialog function IVR receives information where necessary about the resource requirement, which can be covered at present or for the intended booking period from the conference management function and where necessary charge information for configuring the dialog with the party ordering the conference/the conference leader.
The conference management function has an overview of the availability of conference resources, if necessary network-wide, and can therefore in particular support and reserve conferences which extend over a number of conference systems (cascading) because of their size or in the event of resource shortages.
Finally, for reasons of fail-safety, the database server DB, content server CS, conference management function KM, announcement and dialog function IVR and the conference function KF are at least duplicated. The functions do not necessarily have to be set up on different hardware platforms. The IVR function and KM function in particular can be set up on different hardware platforms.
Automated operators are therefore preferably used. These preferably connect in succession to an ongoing PHONEMEET conference, to verify that no disruptive parties are participating in the conference. The latter are typically characterized by the inputting of disruptive tones or by abusive language. Conferees disrupting in this way are then eliminated by the operator from the conference or at least switched to silent. Attempts will also be made to proceed in the same manner in the event of indecent contributions or even legally prohibited content.
In order that the operator can eliminate just the disruptive parties from the conference when such are identified, without having to disconnect the entire conference, the control unit of the conference system allows the operator to dial in or switch to the entire conference and to dial in or switch to each conferee in a PHONEMEET conference. This means that the operator is able to select the conference in question and thus locate a possible disruptive party.
If a switch to a specific conferee is requested, the conferee's input stream into the conference is also forwarded to the recognition, system/IVR system. This is shown symbolically in
When an individual disruptive party is detected and identified, the recognition system/IVR system prompts the conference system to isolate it. This can take place preferably via the control interface of the conference system but can alternatively be achieved by appropriate dialing in to signal the wish to disconnect or silence a specific conferee. If the disruptive party is switched to silent, it can continue to listen to or watch the conference or alternatively an announcement can be played by the IVR system to clarify isolation status and the follow-up measures taken (switching to silent or disconnection from the conference). Expediently, the conference management system stores the data of the disruptive party (e.g. the A call number), as available, in a data storage unit, e.g. in the database of the content server CS.
The prompt by the monitor function to eliminate the disruptive party can be given via the operator interface of the VoxP device. Monitoring details are stored in the form of VoiceXML scripts on the content server CS. The VoiceXML pages including the conference points currently available and to be checked can be generated by the content server CS using the status parameters obtained from the database DB and supplied by the conference management function KM.
As an alternative for small network configurations with, for example, one conference server, the recognition/IVR/conference management function can also operate on the conference server itself.
In the above application the IVR system is used as a recognition system. If clarifying announcements are to be played to the isolated participants, a recognition system with announcement functionality is preferably used. The availability of a full interactive recognition and response function, in other words full IVR functionality, is required if the disruptive party, when switched to silent, is to be offered a dialog offering a range of different options (e.g. complaint function, etc.).
|Cited Patent||Filing date||Publication date||Applicant||Title|
|US5373549 *||Dec 23, 1992||Dec 13, 1994||At&T Corp.||Multi-level conference management and notification|
|US6353662||Oct 17, 1997||Mar 5, 2002||At&T Corp.||Method and apparatus for eliminating nuisance signals in multi-party calls|
|US7058168 *||Dec 29, 2000||Jun 6, 2006||Cisco Technology, Inc.||Method and system for participant control of privacy during multiparty communication sessions|
|DE19815347A1||Apr 6, 1998||Oct 7, 1999||Kretschmann Rolf H||System for operating public telephone discussion groups|
|GB2302477A||Title not available|
|WO2001028214A1||Sep 25, 2000||Apr 19, 2001||France Telecom||Identification of participant in a teleconference|
|Citing Patent||Filing date||Publication date||Applicant||Title|
|US7945254 *||Nov 3, 2008||May 17, 2011||Redknee Inc.||Real-time mobile conferencing solution|
|US20090115836 *||Nov 3, 2008||May 7, 2009||Redknee Inc.||Real-time mobile conferencing solution|
|International Classification||H04M3/20, H04M3/12, H04M3/56, H04M3/22, H04M3/42|
|Cooperative Classification||H04M3/12, H04M2201/40, H04M3/2281, H04M3/20, H04M3/56, H04M2203/5027|
|European Classification||H04M3/20, H04M3/22T, H04M3/56|
|Jun 22, 2004||AS||Assignment|
Owner name: SIEMENS AKTIENGESELLSCHAFT, GERMANY
Free format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNORS:FRIEDRICH, PETER;LOBIG, NORBERT;REEL/FRAME:015495/0698;SIGNING DATES FROM 20040512 TO 20040517
|Feb 22, 2008||AS||Assignment|
Owner name: NOKIA SIEMENS NETWORKS GMBH & CO. KG, GERMANY
Free format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNOR:SIEMENS AKTIENGESELLSCHAFT;REEL/FRAME:020540/0639
Effective date: 20080107
|Aug 16, 2010||FPAY||Fee payment|
Year of fee payment: 4
|Oct 3, 2014||REMI||Maintenance fee reminder mailed|
|Feb 20, 2015||LAPS||Lapse for failure to pay maintenance fees|
|Apr 14, 2015||FP||Expired due to failure to pay maintenance fee|
Effective date: 20150220


'Candles of Hanukkah, Candles of Christmas.'' This is one of my favorite songs in December. It reminds me of the use of candlelight by people of different faiths in this darkest month of the year. For humans in the Northern hemisphere, when the earth tilts so far away from our bright sun, we find that candlelight brings us together as a community and gives us hope.
more Conroy columns
Such as the feeling at the candlelight vigil on the steps of City Hall this past Tuesday night in downtown Athens. From tiny tots to senior citizens, hundreds of people of different ages and faiths stood holding brightly lit candles in the cold. We then calmly filed inside before the seated commissioners. They saw, right up close and personal, the many concerned individuals who hope that certain commissioners will reconsider the vote they cast on Dec. 5.
At that Athens-Clarke County Commission meeting, the majority of commissioners voted to approve Option A as part of the zoning and development regulations for the Athens-Clarke County Comprehensive Land Use Plan. Hopes were dashed for many concerned residents who had anticipated a progressive vote that would promote protection of the surrounding rural areas (AR zone) as well as protect property rights. There were other options available that would have allowed for a balanced approach.
For example, Eldridge had earlier suggested to the commissioners that they wait until next spring to vote on the AR zoning issue. By then, improved legislation from the 2001 General Assembly involving transferable development rights (TDRs) could enable Athens to develop a workable program of its own. A TDR program allows rural area property owners to receive economic benefits by selling some of their development credits to property owners in urban areas. At the same time, it protects our surrounding rural areas, also known as the ''greenbelt.''
Instead, six of the ten commissioners, deliberately voted for a zoning ordinance promoting sprawl at one unit per acre throughout the AR zone. Those voting in favor of Option A were: Linda Ford, Cardee Kilpatrick, Hugh Logan, Marilyn Farmer, Harry Sims, and Charles Carter. Those opposed to Option A were: John Barrow, Tom Chasteen, Ken Jordan, and Alvin Sheats.
It is bad enough to think of our still unique, and still, in some areas, green county becoming a typical spread-out bedroom community just like so many other counties in northeast Georgia and elsewhere. But it gets worse. A little known aspect of Option A's one-unit-per-acre approach is this: It also gives any developer an automatic permit to develop once zoning standards are met. So where does citizen input come in? Nowhere. So as Athens becomes ''Anywhere, USA,'' it also becomes ''Nowhere, USA'' in terms of public input. The vote for Option A represents an alarming steamroller rob over the voice of the concerned citizen. No wonder hope has dwindled for so many residents in this community!
At this point, I think of an analogy to the Greek myth about Pandora. She opened a forbidden box and out swarmed many of today's evils: leaders who've made promises to represent ALL of their constituents, then fail to do so; commissioners who show no understanding of the long-range costs of sprawl to the taxpayers; elected officials who make a show of environmental support, but then vote for a zoning ordinance that ultimately degrades the environment. (Actually, my book on Greek myths mentions that among the evils released were lies, scheming, and deceit, but these sound too harsh to apply here.)
What was left to help people carry on? One gentle, tiny creature called ''hope'' remained behind. Hope. That's what was rekindled in most of us when Mayor Doc Eldridge carried out his plan to veto the commission's Dec. 5 adoption of Athens-Clarke County's new zoning ordinance. This veto means that the current zoning ordinance remains in effect until a new ordinance is adopted. However, seven commissioners can override this veto in January.
Many citizens have worked so hard for the land use plan and zoning ordinances. Now it is up to our commissioners to acknowledge the incredible show of caring by so many Athens residents, and NOT override the mayor's veto. Let's keep our hopes up that our local elected officials have finally heard the voice of the people.
Liz Conroy, originally from Ohio, worked for several years in hospital administration. She is an Athens homemaker caring for two young daughters. E-mail: firstname.lastname@example.org.
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