1- SEBI notifies stringent insider trading norms

SEBI

The Securities and Exchange Board of India (SEBI) has notified stringent revamped rules related to the Insider trading. Insider trading refers to the trade of a company’s stocks or other securities and making unethical profits with access to the non-public information. This is detrimental to the other / small investors who don’t have such information. In this regard market regulator has issued SEBI (Prohibition of Insider Trading) Regulations, 2015. Thus, revamping nearly two-decade old regulations on insider trading.

The key facts about new rules are as follows:

It highlights greater clarity on concepts and definitions along with a stronger legal and enforcement framework for prevention of insider trading. The new rules has expanded the definition of insider. It says that that anyone who is in contractual, fiduciary or employment relations with the promoters will be presumed to be ‘insiders’. Thus, the new rules include the immediate relatives of promotes, directors and employees who are in possession or have access to such information, within the scope of insiders. The new rules make it mandatory that the perpetual insiders such as promoters and directors will have to disclose their future trading plan in advance to the stock exchanges. They are required to trade strictly as per that plan in order to protect the interest of investors The definition of the unpublished price sensitive information (UPSI) has been broadened. Earlier, it has reference to only to company but now, it will have reference to company as well as securities.

Background

The rules have been prepared after taking into consideration recommendations of Sodhi panel and other panel recommendations. It should be noted that a panel headed by former Justice N K Sodhi (former Chief Justice of Karnataka and Kerala High Courts) had submitted its report on insider trading norms in December 2013.

2- Leela Samson resigns as Chairperson of Central Board of Film Certification

Leela Samson

Chairperson of Central Board of Film Certification (CBFC) Leela Samson has resigned. She resigned after Film Certification Appellate Tribunal (FCAT) cleared the controversial film Messenger of God featuring Dera Saccha Sauda chief Gurmeet Ram Rahim Singh in lead role. The Censor Board headed by Ms. Samson had earlier denied the clearance certificate to the film saying that the movie depicts Gurmeet Ram Rahim Singh as a God.

Film Certification Appellate Tribunal (FCAT)

FCAT is a statutory body. It has been constituted under the provisions of the Cinematograph Act, 1952. It comes under the aegis of Ministry of Information and Broadcasting.

Headquarters: New Delhi. The Tribunal has a Secretary to look after its day to day affairs.

Function: It hears the appeals filed as per provisions of Cinematograph Act. Any applicant can file an appeal before the tribunal for a certificate in respect of a film who is aggrieved by an order of the Central Board of Film Certification (CBFC).

Leela Samson

She is a Bharatanatyam dancer, choreographer, instructor and writer. She is recipient of the many awards for her contributions to Bharatanatyam. It includes Padma Shri (1990), Kalaimamani (2005) given by Government of Tamil Nadu, and the Sangeet Natak Akademi Award (1999–2000).

3- Veteran freedom fighter Ghelubhai Naik passes away

Ghelubhai Naik

Veteran Gandhian and freedom fighter Ghelubhai Naik passed away in Dangs district of Gujarat. He was 90. He was well-known for his social work and tribal development in Dangs district of Gujarat.

About Ghelubhai Naik

Being Gandhian and freedom fighter, he was close to Sardar Vallabhbhai Patel. Following Gandhian principles, he started his social work in Dangs as the Sarvodaya worker in 1948. He along with Chunilal Vaidya had set up Swaraj ashram in Dangs district for spreading the education among the tribal. He also played important role in changing names of thousands of tribal people, who earlier beared names like Ravio, Thagio, Nariyo etc, in order to bring them in mainstream society. His lifelong social work played key role in promoting education, de-addiction and spreading awareness about health and upliftment of Dangi tribe.

4- J&K wins National e-Governance award 2014-15 for best district-level initiative

Jammu and Kashmir (J&K) has been selected for National e-Governance award 2014-15 for its best district level initiative in the country. J&K state has been selected for this award by Department of Administrative Reforms for its e-Panchayat project. This award will be presented during 18th National Conference on e-Governance to be held at Gandhinagar, Gujarat on January 30-31, 2015.

Background

J&K’s e-Panchayat project was shortlisted among 53 nominees for spot study which was done by PriceWater Coopers Ltd and officers of Department of Administrative Reforms of PMO in November-December 2014. Finally it was is selected by the by jury headed by Secretary Administrative Reforms and conferred after approval of Prime Minister who heads Ministry of Personnel, Department of Administrative Reforms.

J&K’s e-Panchayat project

It was launched in 2013-14 for strengthening 147 panchayats in the state. This project provided platform for a decentralized regime of panchayats in the state by shifting the service delivery from block level to panchayat level. National e-Governance award It was instituted in 1997. It is given by Department of Administrative Reforms.

Purpose of the award

• It recognizes the achievements in the area of e-Governance.
• It seeks to disseminate knowledge on effective methods of designing and implementing sustainable e-Governance initiatives.
• Encourage incremental innovations in successful e-Governance solutions.
• Promote and exchange experiences in solving problems, Mitigating risks, resolving issues and planning for success.
• It should be noted that J&K state has bagged this award for first time in 18 years since award was instituted.

5- Haryana government has announced yoga guru Ramdev as its brand ambassador

By appointing the yoga guru as its brand ambassador state aims to promote yoga and Ayurveda in the state. It was announced by Haryana’s minister of sports and health Anil Vij. In order to promote ayurveda in a big way, state government is planning to to develop a first ever herbal forest with over 25,000 plants over 1,000 acres of land in the state. State government also plan to open “Vyayamshalas” and “Yogshalas” in 6,500 villages and cities of Haryana.

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