2 FTSE 100 tech stocks I’d buy today

first_img When I think of the FTSE 100 index, tech stocks don’t spring to mind. But if I look closely at its constituents, there are two shares I’d buy today that are tech-focused.SageSage (LSE: SGE) specialises in accountancy software for small and medium-sized businesses. I first covered the company in March and I reckon the shares have potential. So far in 2021 the stock is up almost 15%, but over the last 12 months it’s down 3%.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…The company is undergoing a transformation and the business is being simplified. By this I mean that it’s selling its non-core businesses. The main focus is now on its cloud-based products. These have proved useful especially during the pandemic when most people have been working from home.The other change is that the FTSE 100 company is working hard to boost its recurring revenue. I like this about Sage as it gives me sales stability and visibility for the future.The recent interim results were positive. The main thing for me was that organic recurring revenue increased by 4.4% to £811m. This highlights the company’s success at acquiring new customers, as well as migrating existing ones to its cloud software.What I also like is that Sage has a strong financial position. For the six months ended 31 March, the net debt position had reduced to £96m from £238m a year earlier.The outlook seems rosy to me. It now believes organic recurring revenue growth for the 2021 financial year to be towards the top end of its guidance of 3% to 5%. Sage also highlighted that it expects “margins to trend upwards over time”.But there are risks. There’s no guarantee that the transition to a subscription business model will be successful. It’s likely to incur costs in the process, which could impact profitability.Scottish MortgageIt’s been a difficult 2021 so far for this FTSE 100 stock. Scottish Mortgage Investment Trust (LSE: SMT) is a tech-focused trust and so it was caught up in the inflation fear sell-off earlier this year. But I’m looking past this and looking at the bigger picture.This is an actively-managed portfolio of public and private companies. This means the fund managers are experienced in selecting stocks and they have a strong track record. The lead fund manager, James Anderson is retiring soon, but I’m not overly concerned.Baillie Gifford, the asset manager behind Scottish Mortgage has a good transitioning process. So I’m confident that the remaining fund managers will be able to run the portfolio just as well.While the trust has exposure to some leading listed tech firms, I personally think the key gem is its private or unquoted stocks. What I like is that it has had great success with the managers having correctly identified private companies that have then gone on to float. I think this is pretty impressive and it’s important to note that investors are paying for investment expertise with this FTSE 100 share.Again though, there are risks with Scottish Mortgage. Of course, there’s no guarantee the strong performance will continue. Another tech sell-off could impact the stock. And the investment trust’s private company portfolio does have exposure to some riskier investments, which may be unsuccessful. Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Nadia Yaqub has no position in any of the shares mentioned. The Motley Fool UK has recommended Sage Group. 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. “This Stock Could Be Like Buying Amazon in 1997” Image source: Getty Images Enter Your Email Address Our 6 ‘Best Buys Now’ Sharescenter_img 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. Nadia Yaqub | Wednesday, 26th May, 2021 | More on: SGE SMT 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. 2 FTSE 100 tech stocks I’d buy today 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 Nadia Yaqublast_img read more

Mat Luamanu throws his weight into Tom Heathcote with another massive tackle

first_imgTuesday Mar 22, 2016 Mat Luamanu throws his weight into Tom Heathcote with another massive tackle Mat Luamanu has made yet another huge tackle in the Aviva Premiership, this time taking out Worcester Warriors flyhalf Tom Heathcote. Referee Craig Maxwell-Keys was right there to make a call, and he determined that there was ‘an attempt to grasp’, so waved play on.He obviously felt that Luamanu’s timing was okay too, as he was committed to making the tackle, and could be heard telling his TMO that he was happy with it, even if it may have been marginal.What do you think of the call? To his credit, the referee was very well positioned.Big hitting Luamanu has been featured on RD a few times of late, so you can see those belowMORE LUAMANU:Mat Luamanu flies in to make a cracking hit on Matt Banahan » Giant Mat Luamanu barrels through Fijian Seremaia Bai » George Smith welcomed to Premiership by Harlequins double hit »ADVERTISEMENT Posted By: rugbydump Share Send Thanks Sorry there has been an error Big Hits & Dirty Play Related Articles 25 WEEKS AGO Suspensions handed down after testicle grabbing… 26 WEEKS AGO The ‘double ruffle’ splits opinion with fans… 26 WEEKS AGO WATCH: The nastiest and most brutal moments… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyUrologists Stunned: Forget the Blue Pill, This “Fixes” Your EDSmart Life ReportsDoctors Stunned: This Removes Wrinkles Like Crazy! (Try Tonight)Smart Life ReportsIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier Living30+ Everyday Items With A Secret Hidden PurposeNueeyThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Bernier-Thibault House / Paul Bernier Architecte

first_imgBernier-Thibault House / Paul Bernier ArchitecteSave this projectSaveBernier-Thibault House / Paul Bernier Architecte Projects Paul Bernier ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/899106/bernier-thibault-house-paul-bernier-architecte Clipboard Houses “COPY” Manufacturers: Alumilex, Lepage Millwork, Birch, MQ, Promodo “COPY” Architects: Paul Bernier Architecte Area Area of this architecture project Lead Architects: Save this picture!© Marc Cramer, Paul Bernier and Vittorio Vieira+ 24Curated by Fernanda Castro Share Canada Photographs 2007 CopyHouses•Montreal, Canada Save this picture!© Marc Cramer, Paul Bernier and Vittorio VieiraRecommended ProductsDoorsVitrocsaGlass Technology in Hotel BeaulacMetallicsTECU®Copper Surface – Classic CoatedDoorsdormakabaEntrance Doors – Revolving Door 4000 SeriesDoorsSolarluxBi-Folding Doors – EcolineText description provided by the architects. Two boxes made of glass and wood, simple volumes of similar dimensions, were added to this house in the Plateau Mont-Royal in Montréal. One box was placed on the roof and the other one in the garden under the big maple tree. The box in the garden, a playroom for the children, is connected to the interior living spaces and opens up on the courtyard with wide glass doors as a pavilion in a garden. It is also covered with a green roof that blends it in the surroundings when seen from above.Save this picture!© Marc Cramer, Paul Bernier and Vittorio VieiraTherefore, the ground floor, the space for family life, is a ‘’L’’ shape that wraps around the garden that becomes an extra room in the summer. The box on the roof shelters the room for the parents, like a tree house for the grown-ups. It is a space lined with wood and from where we can see the city and the sunrise. That box on the roof acts also as a light well for the house below.Save this picture!© Marc Cramer, Paul Bernier and Vittorio VieiraSave this picture!First Floor PlanSave this picture!© Marc Cramer, Paul Bernier and Vittorio VieiraSave this picture!Section AThe west corner is completely glazed and an opening was made in the floor below to allow the natural light to flow in and filter all the way to the ground floor through the semi-transparent wood trellis bridge of the second floor. The second floor, the floor of the bedrooms, is calm and airy.Save this picture!© Marc Cramer, Paul Bernier and Vittorio VieiraSave this picture!Third Floor PlanSave this picture!© Marc Cramer, Paul Bernier and Vittorio VieiraThe bedrooms open on the circulation ‘’bridge’’ made of wood trellis that floats above the living room in a double height space filled with natural light and that offers views on the garden and the green roof. The stair, made of steel and wood, sits in that space. Few materials were used, mainly oiled yellow birch and oxidized steel. Materials that are simple, relatively low cost and local. Quality without luxury. Save this picture!© Marc Cramer, Paul Bernier and Vittorio VieiraProject gallerySee allShow lessTencent Seafront Towers Interior Design / B+H ArchitectsSelected ProjectsHelsinki Energy Company to Go Entirely Energy NeutralArchitecture News Share Photographs:  Marc Cramer, Paul Bernier and Vittorio Vieira Manufacturers Brands with products used in this architecture project Area:  1950 ft² Year Completion year of this architecture project Bernier-Thibault House / Paul Bernier Architecte ArchDaily Year:  ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/899106/bernier-thibault-house-paul-bernier-architecte Clipboard CopyAbout this officePaul Bernier ArchitecteOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesMontrealCanadaPublished on September 16, 2018Cite: “Bernier-Thibault House / Paul Bernier Architecte” 16 Sep 2018. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogLouvers / ShuttersTechnowoodSunshade SystemsGlassMitrexSolar GreenhouseMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialCoffee tablesFlexformCoffee Table – GipsyCurtain WallsIsland Exterior FabricatorsPace Gallery Envelope SystemWoodSculptformTimber Battens in Double Bay HouseStonesCosentinoSilestone and Dekton in Villa OmniaBricksNelissenInner Wall Bricks – LückingPanels / Prefabricated AssembliesULMA Architectural SolutionsAir Facade PanelsWoodBlumer LehmannData Processing for Wood ProjectsEducational ApplicationsFastmount®Hidden Panel Fastener at Massey UniversitySealants / ProtectorsTOPCRETMicro-Coating – Baxab®More products »Save想阅读文章的中文版本吗?蒙特利尔山上的盒子住宅 / Paul Bernier Architecte是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

Botanica House / Guz Architects

first_img Houses Save this picture!© Patrick Bingham-Hall+ 12Curated by Martita Vial Share ArchDaily Area:  1308 m² Year Completion year of this architecture project Projects CopyHouses•Singapore Photographs:  Patrick Bingham-Hall Manufacturers Brands with products used in this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/920276/botanica-guz-architects Clipboard Manufacturers: Novelis, StionStructural Engineer:Tenwit ConsultantsM&E Consultant:FCL Engineering ConsultantsLandscape:Nyee Phoe Flower GardenArchitects In Charge:Guz Wilkinson, Chayanit BoonmaCountry:SingaporeMore SpecsLess SpecsSave this picture!© Patrick Bingham-HallRecommended ProductsWindowsAir-LuxSliding Window – CurvedWindowsSolarluxSliding Window – CeroSuspension SystemsMetawellAluminum Panels for Ceiling SailsSuspension SystemsGustafsSlated Timber Ceiling in EQT Corporate HeadquartersText description provided by the architects. The client requested an exciting dynamic house that made the most of the spectacular steeply sloping site which overlooked the world heritage site of the botanic gardens. The clients brief was very much an organic process, in the making, with rooms being added as the design developed. This made it hard to maintain a coherent design, so constant rationalisation of the spaces and the overall massing was a continual process. Save this picture!© Patrick Bingham-HallFeng Shui also played a major role in determining elements of the design, such as the round lift and angling of the front door. The site sits on the busy Cluny Road facing the entrance to the botanic gardens. From the road, the site sloped up steeply to a platform level many metres above road level.  Vehicular access to the site was therefore difficult and was a major determinant on the design.  Save this picture!© Patrick Bingham-HallSave this picture!First Level PlanTo minimise the discrepancy between the 1/F platform level and the road level it was decided to enter at basement level and to create a light airy basement entry a courtyard was sunk down with a landscaped pond and waterfall to introduce the connection with nature. Even adopting this strategy meant the driveway had to be sinuous and steep.Save this picture!© Patrick Bingham-HallBecause of the prominent raised nature of the site and the prominent placing of the building overlooking the road we decided to make the building appear light and to ‘float’ with large cantilevers of thin elements to reduce the apparent mass of the building seen from the road.Save this picture!© Patrick Bingham-HallFor the lower floors RC construction was adopted, but for the upper floors and combination of RC and steel was used to achieve the large cantilevers. The attic floor was entirely steel structure with an aluminium roof that also supports a large array of photovoltaic cells.Save this picture!© Patrick Bingham-HallProject gallerySee allShow lessLights Up Apartment / LCGA DesignSelected ProjectsHEYTEA Day Dreamer Project at Clarke Quay Singapore / MOC DESIGN OFFICESelected Projects Share “COPY” Photographscenter_img Year:  CopyAbout this officeGuz ArchitectsOfficeFollowProductsWoodGlassSteel#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHouseshouseSingaporePublished on July 05, 2019Cite: “Botanica House / Guz Architects” 04 Jul 2019. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogFaucets / SinkshansgroheKitchen SinksGlass3MSun Control Window Film in MarkthalPartitionsSkyfoldIntegrating Operable Walls in a SpaceRetractable StructuresShadeFXRetractable Canopies in Beverly HillsPanels / Prefabricated AssembliesIsland Exterior FabricatorsSpecialty Facade SystemsWoodSculptformTimber Tongue and Groove CladdingSkylightsVELUX CommercialLonglight 5-30° – Modular SkylightsBars / Wire / MeshJakobWebnet – Sports NetSuspension SystemsMetawellAluminum Panels for Ceiling SailsMineral / Organic PaintsKEIMTiO2-free Mineral Paint – Soldalit®-ArteHanging LampsLuminisPendant Lights – HollowcoreHandicap BathroomAamsco Lighting, Inc.Mirror-Lux LED Illuminated MirrorMore products »Save想阅读文章的中文版本吗?山水之间,植苑别墅 / Guz Architects是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Botanica House / Guz ArchitectsSave this projectSaveBotanica House / Guz Architects ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/920276/botanica-guz-architects Clipboard Botanica House / Guz Architects Singapore Architects: Guz Architects Area Area of this architecture project “COPY” 2018last_img read more

Co-operative Bank’s charity programme wins marketing award

first_img The Co-operative Bank’s charity and campaigning scheme ‘Customers Who Care’ has won an award at the Marketing Society’s Awards for Excellence.Customers Who Care won first place in the CauseRelated Marketing category for its two-year Combating Climate Change campaign, in partnership with Friends of the Earth. The awards recognise inspiring marketing best practice and the contribution made to the success of business.The campaign called on the Government to introduce more ambitious targets in the Climate Change Bill to reduce the UK’s carbon dioxide emissions. It saw more than 22,000 customers write a letter or e-mail to their MP and resulted in every single MP being lobbied by a Co-operative Bank customer.The campaign included a month-long national advertising campaign in both press and online media, supported by communications with Bank customers and staff, and in-branch marketing.Melanie Phillips, Campaigns Manager at The Co-operative Bank, said: “The Customers Who Care scheme is important because it gives our customers a say on issues they feel strongly about and provides a voice to help bring about positive change”.The Co-operative Bank’s Customers Who Care initiative was launched in 1994, and has successfully campaigned on a wide range of issues relating to the Bank’s Ethical Policy, from a ban on land mines, to safer chemicals andtrade justice.For every £100 spent by customers on Co-operative Bank credit and debit cards, 1.25p is donated to the Customers Who Care campaign fund. Through the scheme the Bank has donated more than £4 million to over 80 charities and organisations.The Bank’s latest Customers Who Care campaign marks the 60th Anniversary of the Universal Declaration of Human Rights, and it is working in partnership with Amnesty International to raise awareness and call for action on humanrights issues.Pampers and UNICEF were the runners-up in the CSR category of the awards. The Give a Few Bob campaign by Give a few Bob by the Prostate Cancer Research Foundation won the not-for-profit category award.www.co-operativebank.co.uk/cwc Howard Lake | 23 June 2008 | News 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. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis  25 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Co-operative Bank’s charity programme wins marketing award Tagged with: Awards corporatelast_img read more

ILWU clerical workers shut down Port of Los Angeles

first_imgDec. 5 update: Members of the International Longshore and Warehouse Union (ILWU) Local 63 won a tentative agreement.Port workers on strike.Photo: ILWUDec. 2 — After more than two years without a contract, 800 office and clerical workers, employed by international carriers at the ports of Los Angeles and Long Beach, went on strike on Nov. 27.According to the International Longshore and Warehouse Union press release, “Over 51 permanent positions that benefit the Harbor community have been lost in recent years because of outsourcing to diverse locations including Costa Rica and Dallas, Texas. The companies have been reluctant to admit their outsourcing strategy, but workers have obtained documents and other information that confirm the practice.”More commentary on the strike was posted on the ILWU.org website: “We’ve been meeting with the companies for more than two years, but they’re still concealing their outsourcing — even when they’ve been caught red-handed,” said Local 63 Office Clerical Unit President John Fageaux. “These employers seem to have an insatiable appetite for outsourcing,” he said, noting … that the companies have announced plans to take away another 76 [jobs] in the future.”Seven of eight terminals in Los Angeles and three of six in Long Beach were closed to cargo container traffic as longshore workers refused to cross picket lines set up by the ILWU clerical workers. The strike, in its sixth day, continues as of this writing.In an ILWU Coast Longshore Division News release: “The ILWU-PMA Coast Labor Relations Committee that establishes policy and administers the contract between the employer and union on the West Coast waterfront on Wednesday [Nov. 27] agreed that ILWU Local 63 Office Clerical Unit (OCU) picket lines at the Ports of Los Angeles and Long Beach were bona fide. The agreement confirms that longshoremen in ILWU Locals 13, 63 and 94 have the right to refuse to cross OCU pickets under the collective bargaining agreement between the International Longshore and Warehouse Union and the Pacific Maritime Association.”Los Angeles and Long Beach handle 40 percent of the nation’s import trade. About a quarter of a billion dollars in goods travel through the three terminals every day. “Thanks to computer technology, shippers can easily push buttons and maybe even get tax breaks by moving work to other regions,” ILWU spokesperson Craig Merrilees said. (AP, Nov. 28)As of Dec. 2, at least 18 cargo ships had been unable to load or unload since workers began the strike Nov. 27. A handful of vessels that were anchored offshore apparently left for other ports. One of these ships, the APL Iolite, went to the Port of Oakland to unload its cargo.A van full of the L.A. strikers drove up to Oakland to set up a picket line. Ostensibly because of heavy rain, but more likely to discourage a potential picket line, the vessel initially dropped anchor in the middle of the bay, instead of tying up at the port. Once the strikers left for home, the ship was brought in and unloaded by ILWU longshore workers. If there had been a picket line, they would have been able to refuse to work.Meanwhile, negotiations, which were resumed after a day-long port shutdown at the Port of Oakland by clerical, electrical and maintenance workers in Service Employees Local 1021, have resulted in a tentative settlement. The settlement will be brought to union members for a vote on Dec. 5.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Donegal to escape the brunt of weekend snow

first_imgNews 75 positive cases of Covid confirmed in North Pinterest Facebook Twitter Previous articleMan Charged with causing death of Garda McLoughlinNext articleOther closures News Highland Gardai continue to investigate Kilmacrennan fire Further drop in people receiving PUP in Donegal Donegal to escape the brunt of weekend snow Facebook WhatsApp Google+center_img Gardai have issued a warning to all motorists to only take to the roads if necessary today.Snow has been falling across the East since early this morning and driving conditions are treacherous. Met Eireann is forecasting up to 5 centimetres of snow in the south and east today, followed by 10 centimetres tomorrow. The North West and Donegal will escape the brunt of the snowfalls, but will continue to experience severe frost and sub-zero conditions.As temperatures continue to plummet, the Country’s supplies of salt and grit are running critically low.Michael Egan of the NRA says road closures may become an issue in places this weekend. Google+ By News Highland – January 9, 2010 RELATED ARTICLESMORE FROM AUTHOR Twitter 365 additional cases of Covid-19 in Republic Pinterest WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry Main Evening News, Sport and Obituaries Tuesday May 25th last_img read more

IBC: Calcutta HC Quashes NCLT Order Mandating Submission Of Record Of Default For Filing Sec 7 Applications [Read Judgment]

first_imgNews UpdatesIBC: Calcutta HC Quashes NCLT Order Mandating Submission Of Record Of Default For Filing Sec 7 Applications [Read Judgment] Monisha Purwar19 Aug 2020 4:44 AMShare This – xThe Calcutta High Court has struck down the order passed by the National Company Law Tribunal (NCLT) on May 12, 2020 which mandated submission of record of default from Information Utility in Section 7, Insolvency & Bankruptcy Code (IBC) applications, both prospectively as well as retrospectively. The impugned order passed by the Principle Bench, New Delhi of NCLT read…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 Calcutta High Court has struck down the order passed by the National Company Law Tribunal (NCLT) on May 12, 2020 which mandated submission of record of default from Information Utility in Section 7, Insolvency & Bankruptcy Code (IBC) applications, both prospectively as well as retrospectively. The impugned order passed by the Principle Bench, New Delhi of NCLT read as: “All concerned are directed to file default record from Information Utility along with the new petitions being filed under section 7 of Insolvency and Bankruptcy Code, 2016 positively. No new petition shall be entertained without record of default under section 7 of IBC, 2016. The Authorized Representatives/Parties in the cases pending for admission under aforesaid section of IBC also directed to file default record from Information Utility before next date of hearing.” The single judge bench of Justice Shekhar B. Saraf stated that the impugned order is ultra vires the IBC, 2016 and has been enacted sans jurisdiction by the NCLT. The order was struck down by the Court on multiple grounds. In its foreword to the judgment, the Court however clarified that nothing prevents the Parliament to legislate the same change that was sought to be brought in by the NCLT by its order dated May 12, 2020. Rule by a delegated body cannot be beyond the scope of enabling law or inconsistent with the law The Court stated that “while both the NCLT and NCLAT have been conferred with powers to regulate their own procedure, such use of its power is circumscribed and subject to inter alia, the principles of natural justice as well as the provisions of Companies Act, 2013 or the IBC, 2016, inclusive of any rules/ regulations made under the IBC, 2016 by the regulatory body, Insolvency and Bankruptcy Board of India.” The Court stated that the Order seeks to limit the intent of the legislature behind Section 7(3) of the IBC which specifies a category of documents to be filed in a Section 7 application instead of one as mandated by the order. Section 7(3) states that the financial creditor shall furnish along with the application record of the default recorded with the information utility or such other record or evidence of default as may be specified. The Court noted that “on a plain reading of the above provision, it is immanent that three different categories of documents are available to a financial creditor to prove proof of default by a corporate debtor.” A perusal of Section 4 of the Adjudicating Authority Rules, 2016 (formed under IBC, 2016) as well as Regulation 8 of the CIRP Regulations, 2016 of the IBBI along with the Supreme Court ruling in Swiss Ribbons also revealed to the Court that apart from the financial information of the IU, eight other classes of documents can be considered to be sources that evidence a “financial debt”. Moreover, the Court rejected the contention of NCLT that Section 215 of IBC, 2016 makes it mandatory on operational creditors to file all information including information with regard to assets in relation to which any security interest has been created. Justice Shekhar B. Saraf thus stated I am of the view that financial creditors can rely on either of the modes of evidences at hand to showcase a financial debt, that is, either a record of default from the IU OR any other document as specified which proves the existence of a financial debt. NCLT’s exercise of its inherent power to pass the impugned order was beyond jurisdiction The Court ruled that Rule 11 of the NCLT Rules, 2016 which prescribes its inherent power to make such orders as may be necessary for meeting the ends of justice or to prevent the abuse of the process of the Tribunal cannot be above its source or parent act i.e. Companies Act, 2013 and cannot obstruct the operation of a statutory provision of the parent Act under which these Rules were formulated. It stated that the impugned order adversely affects the substantive rights of the petitioners as a financial creditor, envisaged under IBC, 2016 and also goes beyond the statutory limitations of the Companies Act, 2013 and the principles of natural justice and is thus in excess of jurisdiction of the NCLT. The Court stated The very nature of the impugned order would create barriers for financial creditors and would leave them on the high seas as regards the corporate insolvency resolution process. Under the above circumstances it is apparent that the NCLT has acted without jurisdiction and exceeded its jurisdiction that is limited within the four corners of Section 424 of the CA, 2013 and Section 7(3)(a) of the IBC, 2016. NCLT cannot make a delegated legislation retrospective under the IBC, 2016 The Court relied on the Supreme Court’s ruling in Kanak Exports to rule that “no delegatee, let alone the NCLT, not even the IBBI can make regulations, by way of the impugned order or of such nature, can make a delegated legislation retrospective under the IBC, 2016. Therefore, the retrospective nature of the impugned order promulgated by the NCLT is bad in law and does in fact, create new disabilities for financial creditors.” The Court thus struck down the impugned order as ultra vires the IBC, 2016 and the Regulations thereunder noting that if the impugned order is allowed to persist it shall not only restrict the modes of evidence to showcase or adduce an existence of debt accrued to a financial creditor under the IBC, 2016, before the Adjudicating Authority or NCLT, it would also directly be in confrontation with the Sec. 7(3)(a) read with Regulation 8 of the CIRP, 2016, be inconsistent with the IBC, 2016 and thereby defeat the very purpose for which the IBC, 2016 had been enacted.Click Here To Download Judgment[Read Judgment] Next Storylast_img read more

New Mexico State pulls away late, beats Utah Valley 83-78

first_imgNew Mexico State (15-4, 4-1 Western Athletic Conference) has won six of its last seven games. Utah Valley (13-7, 2-3) has lost three of its last five. January 19, 2019 /Sports News – Local New Mexico State pulls away late, beats Utah Valley 83-78 The game was tied 66-66 with 5:40 remaining before the Aggies used a 13-5 surge and led 79-71 with 26 seconds to play. AJ Harris scored five points during the stretch and added two free throws with four seconds left. Tags: UVU Wolverines Basketball/WAC Written by FacebookTwitterLinkedInEmailOREM, Utah (AP) — Eli Chuha had 20 points and 14 rebounds to lead New Mexico State to an 83-78 victory over Utah Valley on Saturday night. Jake Toolson scored 26 points on 11-of-14 shooting for Utah Valley. Ben Nakwaasah added 13 points and Wyatt Lowell had 12. Terrell Brown added 19 points and Harris finished with 18 for New Mexico State. Chuha, Brown and Harris combined for 22-of-26 shooting at the free-throw line. JoJo Zamora made a pair of 3-pointers and chipped in 13 points for the Aggies. Associated Presslast_img read more

INS Shivalik Arrived at Hai Phong to Strengthen Ties

first_img View post tag: asia View post tag: Hai Phong Authorities Back to overview,Home naval-today INS Shivalik Arrived at Hai Phong to Strengthen Ties August 6, 2014 View post tag: INS Shivalik INS Shivalik Arrived at Hai Phong to Strengthen Ties View post tag: arrived Share this article Indian Navy’s INS Shivalik, a guided missile stealth frigate, under the Command of Captain Puruvir Das NM, has arrived at Hai Phong, Vietnam, on a three day goodwill visit. The visit is aimed at strengthening bilateral ties and enhancing inter­operability between navies of the two nations. During the stay in harbour, various activities are planned including official calls, reception on board ship, ship open to visitors, guided tours for Indian naval personnel and professional interaction between personnel of both the navies. On departure, the ship will exercise with Vietnamese Naval ships for improving inter-operability in communication, search and rescue procedures and other areas. The Eastern Fleet had earlier visited Hai Phong in May 2012.The ship along with two others INS Ranvijay, a guided missile destroyer and INS Shakti, a fleet-support ship, would return to India in mid Aug 14 after a two month long deployment.Indian Navy’s Eastern Fleet, under the Command of Rear Admiral Atul Kumar Jain, VSM, Flag Officer Commanding Eastern Fleet, is on an operational deployment to the South China Sea and the North Western Pacific region.[mappress]Press Release, August 06, 2014; Image: Wikimedia View post tag: Strengthen View post tag: Indian Navy View post tag: Ties View post tag: Vietnamlast_img read more