Simply click below to discover how you can take advantage of this. Rising Covid-19 infection rates across the globe means the economic outlook remains pretty grim. But it doesn’t mean I’ll stop investing in UK shares for the time being. There are still plenty of top stocks that should deliver excellent returns in these tough times.2 top UK shares for uncertain timesHere are a couple of top-quality UK shares I’m thinking of adding to my own Stocks and Shares ISA:5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Food producers are among some of the best picks for nervous investors, for obvious reasons. And share investors can double their protection by adding companies whose products boast considerable brand power too (because shoppers are prepared to stretch their budgets a little bit further to buy their favourites even in tough times like these). This is where Premier Foods comes in. Labels like Mr Kipling cakes and Ambrosia custard command supreme customer loyalty in their respective fields. Another reason why I, as an investor, think Premier Foods is a tasty treat is its low price. For the year ending March 2021 it trades on a rock-bottom price-to-earnings (P/E) ratio of 10 times. Worried about the global economy? 4 cheap UK shares I’d buy in an ISA for the downturn I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Image source: Getty Images Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Royston Wild Fellow FTSE 250 stock ConvaTec Group illustrated its own exceptional defensive qualities just this week. This UK share manufactures a broad range of medical products, from colostomy bags and wound dressings to insulin pumps. And it saw revenues rise 6.5% in the three months to September, a result that was much better than expected. Healthcare providers can rely on the essential nature of their goods and services to drive revenues during both economic downturns and upturns. Yet it’s a quality I don’t think is represented by ConvaTec’s cheap price. For 2021, the business trades on a rock-bottom price-to-earnings growth (PEG) ratio of just 1.8% dividend yields!The beauty of investing in defensive stocks like these is that their supreme profits stability gives them the confidence to keep raising dividends and/or paying market-beating shareholder rewards, year after year. The following couple of UK shares not only look cheap from an earnings perspective at current prices. They also carry enormous dividend yields too.Our need to keep the lights on, our kettles boiled and the radiators warm makes Drax Group an obvious selection for worried investors. Yet it trades on a P/E ratio of just 10 times for the year to March 2021. I don’t think this reading reflects the huge long-term profits potential of its switch to low-carbon power sources like biomass either. There’s one final reason Drax has caught my eye. At current prices this FTSE 250 stock carries a mighty 6.1% dividend yield.I believe general insurance provider Direct Line Insurance Group’s another great pick for these testing times. Sales of home, car and pet insurance tend to be quite resilient during economic crises. This is why City analysts reckon this FTSE 250 stock will keep paying big dividends in the near term. Today, Direct Line carries a mighty 8% dividend yield for 2020. Combined with a P/E ratio of 10 times, I reckon this UK share is too cheap to miss. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Royston Wild | Thursday, 29th October, 2020
AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis DEC Syria Crisis appeal raises £3.4m in two days 25 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis DEC Chief Executive, Saleh Saeed, said: “The public is responding with huge generosity to this catastrophic humanitarian crisis. The fighting inside Syria has torn lives apart, forcing people to leave their homes to flee to neighbouring countries”. “This vital fundraising must continue to help save lives and reduce the suffering of Syrian people.”The total has of course since risen:Amazing! DEC #SyriaCrisis Appeal has now raised £4.2 million! Thank you to all our supporters! bit.ly/10ECGIP — DEC (@decappeal) March 25, 2013 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: DEC Individual giving Research / statistics www.dec.org.uk Howard Lake | 26 March 2013 | News WOW! £5million raised for the #SyriaCrisis Appeal! bit.ly/10ECGIP #DECSyria — DEC (@decappeal) March 26, 2013 The Disasters Emergency Committee Syria Crisis Appeal has received £3.4 million in donations from the UK public in the first 48 hours.It was launched by the consortium for 14 international aid charities to help the five million people affected by fighting in Syria, three million of whom have been forced from their homes. The funds will be used in Syria and neighbouring countries, to which over one million refugees have fled.The first appeals were broadcast on BBC and ITV on Thursday 21 March by actor Rufus Sewell as well as actor, writer, comedian and broadcaster Michael Palin, journalist John McCarthy and actress Juliet Stephenson. Advertisement
AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis4 Virtual quiz platform created for charity fundraisers Tagged with: charity quiz fundraising events About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. How virtual quiz events work Virtual Quiz Events claim that a quiz event can be set up and scheduled to enter and play “within minutes”. They add that there is no limit to the number or size of quizzes and that the platform enables “management-free online fundraising” events.Virtual Quiz Events are fully-hosted, with all questions and game-play delivered at the date and time set by the fundraiser. Registered players log in and play your quiz at the same time, offering interaction and fun.Costs and income“It costs nothing for a fundraiser to schedule their Virtual Quiz Event”, according to the platform.The fundraiser sets the registration amount for players to register and pay in order to play in their quiz, with all the registrations producing the event’s income for the charity plus the prize fund. 1,115 total views, 1 views today Howard Lake | 17 December 2019 | News First place in the quiz wins 10% of the fund, second place wins 6% of the fund, and third place wins 4% of the fund. The charity receives 60% of the fund. 1,116 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis4 The range of formats for virtual fundraising events has expanded with the launch of a platform that lets charities run virtual quizzes.Run by Commerce Global Ventures Ltd, Virtual Quiz Events enables charities and supporters to schedule fully-hosted online quiz events, which can be played by supporters from anywhere. The popular charity pub or village hall quiz now need no longer be limited by geography or time. Indeed, players can now participate from the comfort of their own home or indeed from anywhere in the world.
Follow the news on Qatar News August 7, 2020 Find out more News ——————————————–It has emerged that Florian Bauer, a sports reporter for leading German public broadcasters ARD and WDR, was arrested with his crew – a cameraman, a sound engineer and a driver – by Qatari state security police while filming foreign workers on building sites on 27 March.They were interrogated by the police and then taken before a prosecutor. After being held for 14 hours, they were banned from leaving Qatar for the next five days. The equipment seized at the time of their arrest was returned four weeks later, on 26 April, with with all data on their storage devices deleted.Reporters Without Borders is outraged by their detention and the arbitrary way the Qatari authorities behaved.“The government in Doha has to ensure that foreign journalists can investigate critical topics such as the situation of human rights in Qatar unhindered,” said Christian Mihr, the executive director of Reporters Without Borders’ German section. “Since Qatar is seeking the international spotlight with this international sports event, it will have to face up to a critical global public.”The crew was able to leave Qatar on 2 April thanks to the German ambassador’s intervention. Arrested for no reason, they were accused of filming without permission although, before travelling to Qatar, Bauer repeatedly tried without success to get permission to film and to interview various Qatari officials.After much criticism of the conditions of its migrant workers, Qatar had promised to improve their conditions and even announced new labour legislation in November 2014.Despite this incident, the documentary made by Bauer and his crew was finally broadcast yesterday evening.This is not an isolated case. Another German journalist, Peter Gieselmann, was arrested in similar circumstances in October 2013. This year, for the Handball World Championship, Qatar and the International Handball Federation “invited” nearly 40% of the journalists who wanted to cover the event. Nonetheless, some journalists reported afterwards that they had to give the Qatari authorities a reason for every interview they wanted to conduct.Media must have a licence to work in Qatar, where defamation and blasphemy are punishable by imprisonment. News and information providers and civil society representatives have to censor themselves because any criticism of the royal family, any information related to national security or any controversial reporting is off limits.A cyber-crime law adopted in September 2014 poses an additional threat to freedom of expression and information because it criminalizes the posting of any “false news” online or any content liable to undermine “social values.”Qatar is ranked 115th out of 180 countries in the 2015 Reporters Without Borders press freedom index. RSF denounces Malaysia’s harassment of Al Jazeera journalists Qatari authorities arrest another European TV crewA BBC crew was arrested in Qatar on 2 May for filming Nepali workers without permission, becoming the second European TV crew to be arrested in the space of a few weeks for trying to cover the conditions of migrant workers in the run-up to the 2022 World Cup in Qatar. Reporter Mark Lobel said no charge was brought against him and the three other members of his crew, but they had to spend two nights in prison and their equipment was not returned.The BBC crew was invited on a tour organized by the government to show improvements in conditions for migrant workers. Saif al-Thani, the head of the government’s press office, said they broke the law because they entered a workers’ camp without permission, thereby trespassing on private property.After being released, the BBC crew was finally able to leave Qatar on 10 May. The German TV crew that was arrested on 27 March also had its equipment confiscated. Reporters Without Borders condemns the arbitrary detention of journalists investigating the conditions of the migrant workers who are building the infrastructure for the 2022 World Cup in Qatar. QatarMiddle East – North Africa News Change to “fake news” law poses new threat to Qatar’s journalists Help by sharing this information May 5, 2015 – Updated on January 20, 2016 Outrage at detention of journalists investigating 2022 World Cup QatarMiddle East – North Africa Organisation to go further January 23, 2020 Find out more RSF_en News Receive email alerts Unacceptable call for Al Jazeera’s closure in Gulf crisis June 28, 2017 Find out more
Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash Donal Ryan names Limerick Ladies Football team for League opener RELATED ARTICLESMORE FROM AUTHOR TAGSKeeping Limerick PostedlimerickLimerick Post Facebook Previous articleTipperary Education and Training Board launches Microsoft traineeshipNext articleLimerick delivers robust economic response to COVID-19 Staff Reporterhttp://www.limerickpost.ie Email WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads LimerickNewsThe Late Tom O’Donnell – RIPBy Staff Reporter – October 9, 2020 3320 Print WhatsApp THE death has taken place of former Fine Gael TD, Minister and MEP Tom O’Donnell (94). Mr O’Donnell is survived by his wife Helen, son Thomas, brothers Frank, PJ and sisters Bernadette Boner and Millie Boyle, nephews and nieces. He was predeceased by his sister Alicia and brothers Mark and Martin.The eldest of eight children of Patrick and Josephine O’Donnell and a native of Bulgaden, Kilmallock and later Cappamore and Dromin, Mr O’Donnell died suddenly and peacefully today at his residence at Ballysheedy West, Co. Limerick.Sign up for the weekly Limerick Post newsletter Sign Up Born into a high-profile political family, his paternal grandfather was Chairman of the Kilmallock Board of Guardians for several year, was prominently involved in the Land League movement and was imprisoned for six months for his Land League Activities.His mother came from a strong republican family; her brother Dick was Commandant of the Mid-Limerick Flying Column in the war of Independence and was a Cumann na nGaedhael TD for Limerick from 1924-1932.A man of deep faith and a great love of family, Mr O’Donnell was educated at the Convent of Mercy and Boys National School in Cappamore and later at Crescent College Limerick, CBS Charleville and Copsewood College, Pallaskenry. His third level education took him to St. Patrick’s College Thurles and UCD, where he obtained a B.A. Degree.He taught at St. Fintan’s, Sutton and North Strand Vocational School before returning to Limerick to pursue a political career. He was elected to Dáil Éireann in 1961 and remained a full-time public representative until his retirement in 1989, having been elected in eight General Elections and two European Elections.He was promoted to the Fine Gael front bench as Transport, Power and Tourism Spokesman following the 1969 General Election, when he became the first Fine Gael candidate to head the poll since the establishment of the Limerick East constituency. He was appointed Minister for the Gaeltacht following the 1973 General Election by then Taoiseach Liam Cosgrave T.D.He was elected a Member of the European Parliament for Munster in 1979 and retained his seat in the 1984 election with a substantially increased vote. His surplus helped to elect Tom Raftery and win a second seat for the party for the first and only time in the Munster constituency.He served as spokesman on Regional Policy and Regional Planning in the Parliament by the Christian Democrat Group and served in that capacity during his ten years as M.E.P.Prior to that, under the dual mandate system, he had been recalled to the front bench in Dáil Éireann by Garret Fitzgerald in 1980 and was selected as a candidate for the 1981 General Election, heading the poll with a sufficient surplus to help elect Michael Noonan, thereby giving Fine Gael two seats for the first time ever in a General Election in the East Limerick Constituency. He was re-elected in the two snap elections of 1982.He retired ahead of the 1989 European General Election, bringing an end to a sterling political career across three decades.He continued in ‘public service’ in a voluntary capacity, acting as Chairman and subsequently President of the Irish Peace Institute at the University of Limerick; Chairman of P.A.U.L., the Limerick City Area Partnership; Chairman of Limerick City and County Strategy Group; Chairman of the Limerick Employment Pact and was a member of the Board of the Limerick Enterprise Network and the Limerick Community Based Education Initiative.He also served on the Board of Management of the Limerick School for the Hearing Impaired and was a founding member of the L.E.D.P. (Limerick Enterprise Development Park).In 2001 he was honoured by Limerick County Council and in 2005 by Limerick City Council with civic receptions and special presentations to mark the completion of half a century of political and voluntary service to the people of Limerick City and County. He was awarded the Schuman Medal by the European People’s Party (Christian Democrat Group).The family tradition in politics is carried on by his nephew Deputy Kieran O’Donnell, son of the late Dr. Martin O’Donnell, who died on Monday.He was married to Helen O’Connor in 1984, a moment he described as the most important and happiest event in his life. Twitter Linkedin Limerick Ladies National Football League opener to be streamed live Advertisement Limerick’s National Camogie League double header to be streamed live Roisin Upton excited by “hockey talent coming through” in Limerick
Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Mortgage Delinquencies Experience Historic Spike Next: Fitch Reviews GSE Credit Risk During Forbearance Servicers Navigate the Post-Pandemic World 2 days ago Five Star Global announced that all Five Star Academy (FSA) courses are free for the next 30 days. This promotion gives users access to more than 30 courses, but also all five certifications and the master certificate program. This offer expires on Friday, June 26, 2020. Please use the discount code “Better Together” for the discount to be applied. Five Star Academy programs include: Regulatory complianceLegal practiceDiversity and inclusionDistressed asset dispositionLife of a LoanThe FSA is an independent certification program with courses written by housing and mortgage experts. The academy offers key education in regulatory compliance, legal practice, diversity and inclusion, and distressed asset disposition in an easy-to-use online format.FSA curriculum blends the following to increase your industry expertise:Online learningBest practicesIndustry participationProficiency examsThese programs are designed for individuals seeking the opportunity to broaden the scope of their professional education, as well as for corporate use to expand knowledge and improve performance among mortgage teams. FSA certifications ensure that those who have completed the coursework are thoroughly informed in the subject matter and equipped to provide a superior quality of service.The FSA offers relevant courses for professionals in all sectors of the mortgage industry, including financial services professionals, individual and institutional investors, legal professionals, lenders and servicers, mortgage professionals, real estate agents and brokers, and service providers. About Author: Mike Albanese in Daily Dose, Featured, News Sign up for DS News Daily Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Related Articles Share Save Print This Post Five Star Academy Courses Free For the Next Month Home / Daily Dose / Five Star Academy Courses Free For the Next Month May 21, 2020 1,376 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago 2020-05-21 Mike Albanese Demand Propels Home Prices Upward 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago
Top StoriesPerson Ineligible U/s 29A IBC To Submit Resolution Plan Cannot Propose Scheme Of Compromise & Arrangement U/s 230 Companies Act 2013: Supreme Court LIVELAW NEWS NETWORK15 March 2021 2:41 AMShare This – xThe Supreme Court held that a person who is ineligible under Section 29A of the Insolvency Bankruptcy Code to submit a resolution plan, cannot propose a scheme of compromise and arrangement under Section 230 of the Companies Act, 2013.The bench comprising Justices DY Chandrachud and MR Shah also upheld the constitutional validity of Insolvency and Bankruptcy Board of India (Liquidation…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court held that a person who is ineligible under Section 29A of the Insolvency Bankruptcy Code to submit a resolution plan, cannot propose a scheme of compromise and arrangement under Section 230 of the Companies Act, 2013.The bench comprising Justices DY Chandrachud and MR Shah also upheld the constitutional validity of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, which stipulate that a person who is not eligible under the IBC to submit a resolution plan for insolvency resolution of the corporate debtor shall not be a party in any manner to such compromise or arrangement.The Court observed thus while dismissing the appeals against National Company Law Appellate Tribunal and also a writ petition challenging constitutional validity of Regulation 2B Of Liquidation Process Regulations. NCLT, in these cases, held that a person who is ineligible under Section 29A of the Insolvency Bankruptcy Code to submit a resolution plan, is also barred from proposing a scheme of compromise and arrangement under Section 230 of the Companies Act, 2013.”It would lead to a manifest absurdity if the very persons who are ineligible for submitting a resolution plan, participating in the sale of assets of the company in liquidation or participating in the sale of the corporate debtor as a ‘going concern’, are somehow permitted to propose a compromise or arrangement under Section 230 of the Act of 2013.”, the Apex Court bench observed.Referring to various precedents and provisions of both IBC and Companies Act 2013, the court observed thus in para 68 of the judgment:The statutory scheme underlying the IBC and the legislative history of its linkage with Section 230 of the Act of 2013, in the context of a company which is in liquidation, has important consequences for the outcome of the controversy in the present case. The first point is that a liquidation under Chapter III of the IBC follows upon the entire gamut of proceedings contemplated under that statute. The second point to be noted is that one of the modes of revival in the course of the liquidation process is envisaged in the enabling provisions of Section 230 of the Act of 2013, to which recourse can be taken by the liquidator appointed under Section 34 of the IBC. The third point is that the statutorily contemplated activities of the liquidator do not cease while inviting a scheme of compromise or arrangement under Section 230. The appointment of the liquidator in an IBC liquidation is provided in Section 34 and their duties are specified in Section 35. In taking recourse to the provisions of Section 230 of the Act of 2013, the liquidator appointed under the IBC is , above all, to attempt a revival of the corporate debtor so as to save it from the prospect of a corporate death. The consequence of the approval of the scheme of revival or compromise, and its sanction thereafter by the Tribunal under Sub-section (6), is that the scheme attains a binding character upon stakeholders including the liquidator who has been appointed under the IBC. In this backdrop, it is difficult to accept the submission of Mr Bajaj that Section 230 of the Act of 2013 is a standalone provision which has no connect with the provisions of the IBC. Undoubtedly, Section 230 of the Act of 2013 is wider in its ambit in the sense that it is not confined only to a company in liquidation or to corporate debtor which is being wound up under Chapter III of the IBC. Obviously, therefore, the rigors of the IBC will not apply to proceedings under Section 230 of the Act of 2013 where the scheme of compromise or arrangement proposed is in relation to an entity which is not the subject of a proceeding under the IBC. But, when, as in the present case, the process of invoking the provisions of Section 230 of the Act of 2013 traces its origin or, as it may be described, the trigger to the liquidation proceedings which have been initiated under the IBC, it becomes necessary to read both sets of provisions in harmony. A harmonious construction between the two statutes would ensure that while on the one hand a scheme of compromise or arrangement under Section 230 is being pursued, this takes place in a manner which is consistent with the underlying principles of the IBC because the scheme is proposed in respect of an entity which is undergoing liquidation under Chapter III of the IBC. As such, the company has to be protected from its management and a corporate death. It would lead to a manifest absurdity if the very persons who are ineligible for submitting a resolution plan, participating in the sale of assets of the company in liquidation or participating in the sale of the corporate debtor as a ‘going concern’, are somehow permitted to propose a compromise or arrangement under Section 230 of the Act of 2013.The court, also rejected the contention that attaching the ineligibilities under Section 29A and Section 35(1)(f) of the IBC to a scheme of compromise and arrangement under Section 230 of the Act of 2013 would be violative of Article 14 of the Constitution as the appellant would be “deemed ineligible” to submit a proposal under Section 230 of the Act of 2013.”We find no merit in this contention. As explained above, the stages of submitting a resolution plan, selling assets of a company in liquidation and selling the company as a going concern during liquidation, all indicate that the promoter or those in the management of the company must not be allowed a back-door entry in the company and are hence, ineligible to participate during these stages. Proposing a scheme of compromise or arrangement under Section 230 of the Act of 2013, while the company is undergoing liquidation under the provisions of the IBC lies in a similar continuum. Thus, the prohibitions that apply in the former situations must naturally also attach to the latter to ensure that like situations are treated equally.”, the court said.The court also rejected the contention that Section 35(1)(f) applies only to a liquidator who conducts a sale of the property of the corporate debtor in liquidation but not to the NLCT, acting as the Tribunal, when it exercises its powers under Section 230 of the Companies Act 2013. It observed thus:”The liquidator appointed under the provisions of Chapter III of the IBC is entrusted with several powers and duties. Sections 37 to 42 of the IBC are illustrative of the powers of the liquidator in the course of the liquidation. The liquidator exercises several functions which are of a quasi-judicial in nature and character. Section 35(1) itself enunciates that the powers and duties which are entrusted to the liquidator are “subject to the directions of the adjudicating authority”. The liquidator, in other words, exercises functions which have been made amenable to the jurisdiction of the NCLT, acting as the Adjudicating Authority. To hold therefore that the ineligibility prescribed under the provisions of Section 35(1)(f) can be disregarded by the Tribunal for the purpose of considering an application for a scheme of compromise or arrangement under Section 230 of the Act of 2013, in respect of a company which is under liquidation under the IBC, would not be a correct construction of the provisions of law.”The main ground of challenge to Regulation 2B was that the regulation transgressed the authority of IBBI by introducing a disqualification or ineligibility in regard to the presentation of an application for a scheme of compromise or arrangement under Section 230 of the Companies Act. Addressing this argument, the court observed thus:”The position in our view can be considered from two perspectives, independent of the provisions of Regulation 2B. We have indicated in the discussion earlier that even in the absence of the Regulation 2B, a person ineligible under Section 29A read with Section 35(1)(f) is not permitted to propose a scheme for revival under Section 230, in the case of a company which is undergoing a liquidation under the IBC. We have come to the conclusion, as noted for the reasons indicated earlier, that in the case of a company which is undergoing liquidation pursuant to the provisions of Chapter III of the IBC, a scheme of compromise or arrangement proposed under Section 230 is a facet of the liquidation process. The object of the scheme of compromise or arrangement is to revive the company. The principle was enunciated in the decision in Meghal Homes (supra) while construing the provisions of erstwhile Section 391. The same rationale which permeates the resolution process under Chapter II (by virtue of the provisions of Section 29A) permeates the liquidation process under Chapter III (by virtue of the provisions of Section 35(1)(f)). That being the position, there can be no manner of doubt that the proviso to Regulation 2B is clarificatory in nature. Even absent the proviso, a person who is ineligible under Section 29A would not be permitted to propose a compromise or arrangement under Section 230 of the Act of 2013. We therefore do not find any merit in the challenge to the validity of Regulation 2B.” Dismissing the appeals, the bench concluded thus:Based on the above analysis, we find that the prohibition placed by the Parliament in Section 29A and Section 35(1)(f) of the IBC must also attach itself to a scheme of compromise or arrangement under Section 230 of the Act of 2013, when the company is undergoing liquidation under the auspices of the IBC. As such, Regulation 2B of the Liquidation Process Regulations, specifically the proviso to Regulation 2B(1), is also constitutionally valid. Case: Arun Kumar Jagatramka vs. Jindal Steel and Power Ltd [CA 9664 of 2019]Coram: Justices DY Chandrachud and MR ShahCounsel: Adv Sandeep Bajaj, Adv Shiv Shankar Banerjee, Sr. Adv Amit Sibal, Sr. Adv Gopal Jain, Citation: LL 2021 SC 160 Click here to Read/Download JudgmentRead JudgmentSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story
Ocean floor magnetic anomalies show that New Zealand was the last continental fragment to separate from Antarctica during Gondwana break-up, drifting from Marie Byrd Land, West Antarctica, about 84 Ma ago. Prior to continental drift, a voluminous suite of mafic dykes (dated by Ar–Ar laser stepped heating at 107 ± 5 Ma) and anorogenic silicic rocks, including syenites and peralkaline granitoids (95–102 Ma), were emplaced in Marie Byrd Land during a rifting event. The mafic dyke suite includes both high- and low-Ti basalts. Trace element and Sr and Nd isotope compositions of the mafic dykes may be modelled by mixing between tholeiitic OIB (asthenosphere-derived) and alkaline high- to low-Ti alkaline magmas (lithospheric mantle derived). Pb isotopes indicate that the OIB component had a HIMU composition. We suggest that the rift-related magmatism was generated in the vicinity of a mantle plume. The plume helped to control the position of continental separation within the very wide region of continental extension that developed when the Pacific–Phoenix spreading ridge approached the subduction zone. Separation of New Zealand from Antarctica occurred when the Pacific–Phoenix spreading centre propagated into the Antarctic continent. Sea floor spreading in the region of the mantle plume may have caused an outburst of volcanism along the spreading ridge generating an oceanic plateau, now represented by the 10–15 km thick Hikurangi Plateau situated alongside the Chatham Rise, New Zealand. The plateau consists of tholeiitic OIB-MORB basalt, regarded as Cretaceous in age, and similar in composition to the putative tholeiitic end-member in the Marie Byrd Land dykes. The mantle plume is proposed to now underlie the western Ross Sea, centred beneath Mount Erebus, where it was largely responsible for the very voluminous, intraplate, alkaline McMurdo Volcanic Group. A second mantle plume beneath Marie Byrd Land formed the Cenozoic alkaline volcanic province.
A morphological dataset based on 14 standard counts and indices was constructed for 68 specimens comprising 12 species of octopuses. This was used to construct distance matrices based on morphological characters. These matrices were compared with genetic distance matrices compiled during molecular phylogenetic analyses of the same 12 species using four mitochondrial and two nuclear genes. Mantel tests showed that there was significant congruence between the phenetic and genetic matrices, suggesting that the genetic signal is reflected in the morphological data set. Matrices of geographical distance were constructed for the 12 species based on the latitude, longitude, and depth of capture of 1726 individuals. These matrices never showed significant congruence with genetic data or with morphological data. Multivariate analysis of the morphological dataset suggests that these counts and indices, traditionally used for discriminating between species in cephalopods, do not show great discrimination at species level, but provide excellent discrimination at the generic level, and, as such, might be useful for resolving the generic placement of some problematic taxa.