Friday, July 10, 2009



All students, workers going overseas to be registered
9 Jul 2009, 2235 hrs IST, Himanshi Dhawan, TNN
Text:
NEW DELHI: As a fallout of racial attacks on Indians in Australia, the government plans to plug loopholes in legislation to bring under its ambit
all immigrants — students and workers — through a registration process. As of now, the ministry for overseas Indian affairs has data only on a small section of workers that require emigration clearance. For the first time, education agents and counsellors will also be brought under the law. The MOIA is likely to table the proposed amendments to Emigration Act 1983 in the next Parliament session. The proposed law will also change the definition of immigration to include "movement abroad for employment and studies". "We will make it mandatory for education agents to be registered and ensure that they comply by certain requirements. Students are often misled by unscrupulous agents who make unrealistic promises," Vayalar Ravi, overseas Indian affairs minister said. The amendments mandate a system of registration of all workers through the bureau of immigration. Students and skilled workers like doctors, software engineers, nurses will now have to be mandatorily registered. "It is our attempt to make the immigration process smoother rather than cause impediments. We would like to make immigration safer," K Mohandas, MOIA secretary, said. He added that in a bid to clamp down on recruiting agents, the ministry had a multi-pronged strategy that will swing in to motion when the amendments are approved. These include setting up of an independent statutory authority that will govern the agents and settle arbitration. Recruiting agents (RAs) will be empowered to provide emigration clearance subject to their instant online reporting to the Protectorate of Emigrants. This will be linked to departure points and the government will re-depute its inspectors in a monitoring role. Online monitoring will be conducted and penalty provisions are proposed to be increased from two years of imprisonment to five years and a penalty of Rs 5 lakh. RAs will also be rated by an independent agency and this will be put in the public domain. The ministry has also conveyed to the Australian government the need for pre-departure orientation that must be conducted by education institutions. The ministry plans to set up a joint working group with the Australian government to assess review of respective education laws and

Wednesday, December 17, 2008

Made for each other

As recession hits Bollywood, SRK comes to the rescue

First things first! After a lull, when theatre managements were forced to call off shows due to lack of audiences, it was back to good old days thing ‘Ghajini’ and ‘Chandni Chowk To China’, has succeeded in luring audiences back to movie halls.

Another observation! SRK's star power came to the rescue of ‘Rab Ne Bana Di Jodi’. A majority of those who watched the film were unanimous that the script was faulty, with loopholes aplenty. But SRK swept everyone off their feet!

Now let's talk business!

Sanjeev Prasad, Head - Research, Kotak Securities ,

Sanjeev Prasad, Head - Research, Kotak Securities

,
termed Satyam’s deciding to pick up stake in Maytas and the subsequent about-turn a combination of a business call that went horribly wrong and an event that raises concerns about the its corporate governance, “First of all, I can’t understand the synergy between a software services company and a real estate infrastructure business; the two are completely unrelated businesses,” he said, adding, “So, I can’t understand any benefits, which could have come out of this particular acquisition. The second thing is the manner in which it was done it also raises a fair amount of issues.” “It will take a lot of efforts from the management now to get the faith of the shareholders back,” Prasad added.

Experts decry Satyam-Maytas deal; call it unethical

On Tuesday, Satyam announced its decision to pick up 51% in Maytas Infrastructure and 100% in Maytas Properties. However, as soon as the USD 1.6-billion deal was announced, it met with stiff market resistance. Investors were angry on the company’s acquisition of the infrastructure company — especially when the realty business is highly cash-consuming now. The Satyam ADR fell by as much as 55% on news of the acquisition.Institutions hold over 50% in the IT major. Templeton, an institutional shareholder, said it would go to any length to stop the deal. In the face of rising investor discontent, Satyam called off the deal.

 
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