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National Spot Exchange
The National Spot Exchange Limited (NSEL) is India, India's first Spot market, spot exchange under the ownership of Ministry of Finance (India), Ministry of Finance, Government of India. It was established in view of the then Prime Minister's vision to create a "single market" across the country for both manufactured and agricultural produce. The Economic Survey of 2002-03 of the Government of India also recommended setting up a national-level, integrated market for agricultural products, as did the Planning Commission. This was followed by the Rangarajan Committee, which too sought a national spot market. It is under the ownership of Ministry of Finance (India), Ministry of Finance, Government of India. The Government of India granted permission to NSEL along with two other spot exchanges to start operations. The Government of India issued a The Gazette of India, Gazette Notification dated 5 June 2007 granted general exemption under Section 27 of the Forward Contracts Regu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spot Market
The spot market or cash market is a public financial market in which financial instruments or commodities are traded for immediate delivery. It contrasts with a futures market, in which delivery is due at a later date. In a spot market, settlement normally happens in T+2 working days, i.e., delivery of cash and commodity must be done after two working days of the trade date. A spot market can be through an exchange or over-the-counter (OTC). Spot markets can operate wherever the infrastructure exists to conduct the transaction. Exchange Securities (i.e. financial instruments) and commodities are traded on an exchange using, making, and possibly changing the current market price. OTC In the OTC i.e., over the counter market, trades are based on contracts made directly between two parties, and not subject to the rules of an exchange. The contract terms are agreed between the parties and may be non-standard. The price will probably not be published. Examples Energy spot The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India Infoline
IIFL Finance Limited (formerly IIFL Holdings Limited) d/b/a IIFL and India Infoline Finance Limited, is an Indian diversified financial services company headquartered in Mumbai. The organisation was founded by Nirmal Jain. IIFL and its group companies are backed by Canadian investor Prem Watsa, private equity firm General Atlantic and CDC Group, the UK Government's private equity arm. IIFL is ranked among the top seven financial conglomerates in India and as the top independent financial services firm in India in terms of market capitalisation. Nirmal Jain is the chairman of the group, while R Venkataraman is the group managing director and co-promoter. History and overview - IIFL Group IIFL was founded on 18 October 1995, by Nirmal Jain, a 1986 graduate from University of Mumbai and an alumnus of Indian Institute of Management, Ahmedabad. Jain is among the few successful entrepreneurs post the economic liberalisation era in India ushered by PV Narasimha Rao. Jain was previous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Failures
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicated and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Mumbai
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Exchanges In India
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. Popular commodities include crude oil, corn, and gold. Other definitions of commodity include something useful or valued and an alternative term for an economic good or service avail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Marketing In India
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities. The history of agriculture began thousands of years ago. After gathering wild grains beginning at least 105,000 years ago, nascent farmers began to plant them around 11,500 years ago. Sheep, goats, pigs and cattle were domesticated over 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. Industrial agriculture based on large-scale monoculture in the twentieth century came to dominate agricultural output, though about 2 billion people still depended on subsistence agriculture. The major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials (such as rubber). Food classes include cereals ( grains), vegetables, fruits, cooking oils, meat, milk, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vineet Saran
Vineet Saran (born 11 May 1957) is a former judge of the Supreme Court of India and the ethics officer and ombudsman in the Board of Control for Cricket in India. He is a former chief justice of the Orissa High Court. He is also a former judge of the Karnataka High Court and Allahabad High Court. Career Vineet Saran was born on 11 May 1957. He was enrolled as an advocate on 28 July 1980. He practiced before the Allahabad High Court in all matters. He was appointed a permanent judge of the Allahabad High Court on 14 February 2002. He was thereafter transferred to the Karnataka High Court on 16 February 2015 and was appointed chief justice of the Orissa High Court on 26 February 2016. He was appointed as a judge of the Supreme Court of India The Supreme Court of India ( IAST: ) is the supreme judicial authority of India and is the highest court of the Republic of India under the constitution. It is the most senior constitutional court, has the final decision in all leg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rohinton Fali Nariman
Rohinton Fali Nariman (born 13 August 1956) is a former Judge of the Supreme Court of India. Before being elevated as a judge, he practised as a senior counsel at the Supreme Court. He was appointed the Solicitor General of India on 23 July 2011.http://www.thehindu.com/news/national/article2287939.ece , Rohinton Nariman appointed Solicitor-General He also served as a member of the Bar Council of India. He was designated as a Senior Counsel by Justice Venkatachaliah (the then Chief Justice of India) in 1993 at the early age of 37. Early life and education Nariman is the son of Fali Sam Nariman, a distinguished Indian jurist. He received his early education in Mumbai, at the Cathedral and John Connon School. He completed his undergraduate B.Com. degree from Shri Ram College of Commerce. He completed his LL.B froCampus Law Centreof the Faculty of Law, University of Delhi, where he ranked 2nd in the batch. He then went to Harvard Law School for his LL.M. degree in 1980–81 where ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Corporate Affairs
The Ministry of Corporate Affairs is an Indian government ministry primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, and the Insolvency and Bankruptcy Code, 2016. It is responsible mainly for the regulation of Indian enterprises in the industrial and services sector. The ministry is mostly run by civil servants of the ICLS cadre. These officers are elected through the Civil Services Examination conducted by Union Public Service Commission. The highest post, Director General of Corporate Affairs (DGCoA), is fixed at Apex Scale for the ICLS. The current minister is Nirmala Sitaraman. Administration The ministry administers the following acts: * The Companies Act, 2013 * The Companies Act, 1956 * Insolvency And Bankruptcy Code, 2016 * The Competition Act, 2002 * The Monopolies and Restrictive Trade Practices Act, 1969 * The Chartered Accountants Act, 1949 s amended by the Chartered Accountants (A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NSEL Case
NSEL case relates to a payment default at the National Spot Exchange, National Spot Exchange Limited that occurred in 2013 involving Financial Technologies Group, Financial Technologies India Ltd, when a payment default took place after a commodities market regulator, the Forward Markets Commission (FMC), directed NSEL to stop launching contracts. This led to the closure of the Exchange in July 2013. Three spot exchanges, National Spot Exchange, NSEL, NSPOT and National APMC were exempted by the government under Section 27 of Foreign Contribution (Regulation) Act, 2010, FCRA to conduct forward trading in one day contracts. This was done to boost volumes so that their economic viability improved. While Financial Technologies (India) promoted NSEL, it was granted general exemption on June 5, 2007, whereas, NSPOT and National APMC received exemptions under the same provisions on July 23, 2008, and August 11, 2010, respectively. On the flawed recommendations of the FMC, the Ministry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Motilal Oswal
Motilal Oswal is an Indian businessman. He is the founder, chairman and managing director of Motilal Oswal Financial Services Ltd (MOFSL) which he co-founded with Raamdeo Agrawal Raamdeo Agrawal is an Indian businessman, stock market investor and Chairman of Motilal Oswal Group which he co-founded with Motilal Oswal in 1987. According to Forbes he had a net worth of $1 billion in 2018 but dropped off their list of billio ... in 1987. Early life Oswal was born to a Jain family in a small village of Padru in Barmer, Rajasthan near the international border. His father was a grain trader and a well to do businessman. However instead of joining the family trade, Oswal decided to pursue formal education. He studied at the SPU Jain College in Falna before moving to Mumbai to study CA. In 1987 during his stay at a Mumbai hostel, the Rajasthan Vidyarthi grih Oswal met Raamdeo Agarwal, his friend with whom he later founded his company MOFSL. Career After working with a private ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second-most populous city in India after Delhi and the eighth-most populous city in the world with a population of roughly 20 million (2 crore). As per the Indian government population census of 2011, Mumbai was the most populous city in India with an estimated city proper population of 12.5 million (1.25 crore) living under the Brihanmumbai Municipal Corporation. Mumbai is the centre of the Mumbai Metropolitan Region, the sixth most populous metropolitan area in the world with a population of over 23 million (2.3 crore). Mumbai lies on the Konkan coast on the west coast of India and has a deep natural harbour. In 2008, Mumbai was named an alpha world city. It has the highest number of millionaires and billionaires among all cities i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
