East African Breweries Limited (EABL.ug) 2011 Presentation

first_imgEast African Breweries Limited (EABL.ug) listed on the Uganda Securities Exchange under the Beverages sector has released it’s 2011 presentation For more information about East African Breweries Limited (EABL.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the East African Breweries Limited (EABL.ug) company page on AfricanFinancials.Document: East African Breweries Limited (EABL.ug)  2011 presentation Company ProfileEast African Breweries Limited produces and distributes a range of beer and spirit brands and non-alcoholic beverages for local consumption in Uganda. Popular brands include Tusker Malt Lager, Tusker Lite, Guinness, Pilsner, White Cap Lager, Allsopps Lager, Balozi Lager, Senator Lager, Bell Lager, Serengeti Premium Lager, Johnnie Walker, Smirnoff, Kenya Cane, Chrome Vodka and Ciroc. East African Breweries has operations in Kenya, Uganda, Tanzania and South Sudan; and exports alcoholic and non-alcoholic beverages to Rwanda, Burundi and the Great Lakes region. Subsidiary companies include Kenya Breweries Limited, Uganda Breweries Limited, East African Breweries (Mauritius) Limited, International Distillers Uganda Limited and East African Maltings (Kenya) Limited. Established in 1922, the group has its headquarters in Ruaraka, near the capital of Nairobi. East African Breweries Limited is listed on the Uganda Securities Exchangelast_img read more

Ecobank Ghana Limited (EBG.gh) 2011 Circular

first_imgEcobank Ghana Limited (EBG.gh) listed on the Ghana Stock Exchange under the Banking sector has released it’s 2011 circular For more information about Ecobank Ghana Limited (EBG.gh) reports, abridged reports, interim earnings results and earnings presentations, visit the Ecobank Ghana Limited (EBG.gh) company page on AfricanFinancials.Document: Ecobank Ghana Limited (EBG.gh)  2011 circular Company ProfileEcobank Ghana Limited is a financial institution offering banking products and services for the consumer, commercial, corporate and investment sectors. The company provides banking solutions for government departments, financial institutions, multi-nationals, international organisations, small- and medium-sized enterprises and individuals. Ecobank Ghana Limited offers an extensive product offering; ranging from current and savings accounts to business accounts, term deposits, personal loans, mortgage loans, microfinance and business loans. Ecobank Ghana Limited also offers financial solutions for value-chain financing, short-term and mid-term finance and trade finance as well as investment banking, mergers and acquisitions, structure and project finance, capital market services, wealth and asset management, securities brokerage, custodial services and electronic banking services. Ecobank Ghana Limited is a subsidiary of Ecobank Transnational Incorporated. Its headquarters are in Acca, Ghana. Ecobank Ghana Limited is listed on the Ghana Stock Exchangelast_img read more

Stock market crash bargains: I’d buy these 2 cheap UK shares today and hold them forever

first_img Image source: Getty Images 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. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. “This Stock Could Be Like Buying Amazon in 1997” Peter Stephens | Friday, 3rd July, 2020 | More on: GLEN WPP Peter Stephens owns shares of WPP. 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.center_img 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. 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. Enter Your Email Address Stock market crash bargains: I’d buy these 2 cheap UK shares today and hold them forever The FTSE 100 stock market crash has caused a number of UK shares to trade at relatively low prices. Certainly, there is an ongoing risk that a second market crash may occur that could cause further declines in their valuations. However, the track record of the stock market suggests that improving trading conditions could be ahead over the long run.As such, now may be an opportune moment to buy these two large-cap stocks. They have declined over recent months and may deliver recoveries over the long run.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…WPPFTSE 100-listed WPP (LSE: WPP) has posted a 41% share price decline since the start of the year, as the stock market crash has weighed on investor sentiment. As a cyclical business that is very dependent on the performance of the global economy, its prospects are likely to come under pressure as global GDP growth slows.The company’s recent quarterly update showed that its revenue has declined by 4.9%. Further falls over the coming quarters would be unsurprising, since demand for its services could fall as businesses seek to reduce their non-essential expenditure.However, with WPP having a strong balance sheet following a wide range of asset disposals, it could be in a relatively solid position to survive short-term challenges. It may also have a relatively flexible business model that can adapt to a fast pace of change across many sectors of the global economy.With the company’s share price having fallen heavily in the stock market crash, it could offer a wide margin of safety. This may allow it to deliver a stock price recovery over the long run, although further volatility seems likely in the short term.Glencore: buying opportunity after market crashAnother FTSE 100 share that has declined heavily in the stock market crash of 2020 is Glencore (LSE: GLEN). The mining company’s shares are currently down 29% since the start of the year, and could fall further as a weak global economic outlook has the potential to weigh on the wider resources industry.Glencore’s recent production update showed that it has been able to maintain a high level of operation of its assets, with its production levels being relatively strong across many of its segments. It also highlighted its strong liquidity position, as well as the growth prospects of its marketing division.In the short run, regulatory risks and weak investor sentiment towards the resources industry could negatively impact on Glencore’s share price prospects, of course. However, its diverse range of operations, a likely recovery for the world economy and its low share price may mean that the business offers an attractive risk/reward opportunity for long-term investors. It could deliver a strong recovery after its fall in the recent stock market crash. See all posts by Peter Stephenslast_img read more

Iran Aid closed down by Charity Commission

 39 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 14 September 2000 | News Iran Aid closed down by Charity Commission AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Advertisement The Charity Commission has closed down the charity Iran Aid stating that it had “failed to give [them] verifiable evidence that money donated by the British public was actually spent on charitable work in Iran.”Read Britain Closes Iran Charity After Complaints at Yahoo.com, and view the Charity Commission’s draft scheme for the administration of Iran Aid. 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. read more

Journalist sentenced in absentia to 14 months in prison

first_img News Organisation December 26, 2019 Find out more News Eleven organizations from civil society create the Forum on Information & Democracy, a structural response to information disorder Reporters Without Borders today condemned the 14-month prison sentence imposed in absentia on journalist Mohamed Fourati on 9 March by an appeal court in Gafsa (400 km south of Tunis) for two articles he wrote in 2002. One, published on the Aqlma online news website, was said to prove he belonged to opposition group. The other was about fund-raising for the family of a political prisoner.“The way the authorities and prosecutors have gone after Fourati shows their determination to silence dissident journalists and writers,” the press freedom organisation said. “The Tunisian government does not permit any opposition, whether in the traditional press or on the Internet. Cyber-dissident Mohammed Abbou, who has been imprisoned since March 2005 for criticising the president online, is a case in point.”Fourati was accused in 2002 of links with a group that helped the families of political prisoners after he wrote an article about fund-raising for the family of detainee Abdelhamid Louhichi for Aqlma online, a website specialising in the Maghreb. Gafsa appeal court judges dismissed the charges twice but determined prosecutors appealed against their rulings and managed to have Fourati retried and convicted by a different appeal court on 9 March.Fourati currently lives in Qatar, where he works for the daily Al-Sharq. He did not go back for the trial and will not have to serve the sentence unless he returns to Tunisia. The Tunisian authorities are refusing to let his wife leave the country to join him in Qatar.He used to be the Tunis correspondent of the London-based Quds Press International news agency, and helped edit Al-Mawqif, the newspaper of the Progressive Democratic Party. He is also a member of a local press freedom watchdog and the Union of Tunisian Journalists (SJT), neither of which is recognised by the government.Abbou has been imprisoned since March 2005 for an article published in August 2004 on the Tunisnews website in which he compared the torture of political prisoners in Tunisia with the mistreatment of detainees at Abu Ghraib prison in Iraq by US soldiers.———————-Read our weekly “blog review” and create your blog with Reporters without borders: www.rsfblog.org TunisiaMiddle East – North Africa TunisiaMiddle East – North Africa RSF_en November 11, 2020 Find out more March 13, 2007 – Updated on January 20, 2016 Journalist sentenced in absentia to 14 months in prisoncenter_img November 12, 2019 Find out more Forum on Information and Democracy 250 recommendations on how to stop “infodemics” News Help by sharing this information Follow the news on Tunisia News Tunisia : RSF asks Tunisian president’s office to respect journalists to go further Receive email alertslast_img read more

Pasadena Christian Church: “Give Thanks with a Grateful Heart”

first_img More Cool Stuff Just Bill‘Give thanks With a Grateful Heart, ‘ is a favorite hymn of mine. Gratitude sets forth a firm backdrop for ministry as I begin partnership with you. The moment I stepped into the Pasadena pulpit, you welcomed me with gracious and loving hearts. I felt this in the depths of my soul. Your energy and your compassionate spirits burst with eagerness and readiness to envision … ‘how we do church!’ A new chapter in our journey of faith has begun – – indeed.First, a few lines of my history! As you know, our ministry is not quite new. I’ve been here before! You may remember when my family and I first arrived in Pasadena in February of 1978. You called me from pastoral ministry with First Christian Church of San Jose. For the next twelve-plus years you became my church home.Since those beginning days in ‘78 and now my return in ‘14, the clock has moved forward – – beyond our imaginings. We live in a world of change, dramatic change. The technological explosion has especially impacted the way in which we live, the way we dress, the way we eat, the way in which we communicate – and even in the way we do church!I return with confidence that together, our ministry in mission here on our sacred corner of Altadena Drive and Loma Vista will stretch forth ‘upon doorsteps to the ends of the earth!’ For empowerment of this call, let’s each one ‘give thanks with a grateful heart’ coupled with faith and conviction . . . blessed by the Holy Spirit!!BillPasadena Christian Church, 789 N. Altadena Drive, Pasadena, (626) 798-0591 or visit www.pasadenadisciples.org. Name (required)  Mail (required) (not be published)  Website  22 recommended0 commentsShareShareTweetSharePin it Community News Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Your email address will not be published. Required fields are marked * Top of the News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Herbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeautyHerbeautyWant To Seriously Cut On Sugar? You Need To Know A Few TricksHerbeautyHerbeautyHerbeauty10 Of The Most Notorious Female Spies In HistoryHerbeautyHerbeautyHerbeautyNutritional Strategies To Ease AnxietyHerbeautyHerbeautyHerbeautyThis Trend Looks Kind Of Cool!HerbeautyHerbeauty First Heatwave Expected Next Week center_img Community News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Business News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Subscribe Make a comment Faith Essays & Inspirations Pasadena Christian Church: “Give Thanks with a Grateful Heart” Article and Photo courtesy of PASADENA CHRISTIAN CHURCH Published on Friday, November 21, 2014 | 11:49 am Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimeslast_img read more

$5.5 Billion Fire Prevention and Climate Resiliency Bond Co-Sponsored by Local Senator Passes Senate Natural Resources Committee

first_img 15 recommended0 commentsShareShareTweetSharePin it Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Name (required)  Mail (required) (not be published)  Website  faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Top of the News CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Your email address will not be published. Required fields are marked * More Cool Stuff Business News Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m.center_img Community News STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy HerbeautyJennifer Lopez And Alex Rodriguez’s Wedding DelayedHerbeautyHerbeautyHerbeauty’First Daughters’: From Cute Little Kids To Beautiful Young WomenHerbeautyHerbeautyHerbeauty10 Secrets That Eastern Women Swear By To Stay Young LongerHerbeautyHerbeautyHerbeauty10 Ways To Get Into Shape You’ve Never Tried BeforeHerbeautyHerbeautyHerbeauty10 Of The Most Notorious Female Spies In HistoryHerbeautyHerbeautyHerbeauty9 Of The Best Metabolism-Boosting Foods For Weight LossHerbeautyHerbeauty Make a comment State Senate Bill 45, which would provide $5.5 billion in bond funding to help California become more resilient to climate change, passed the Senate Natural Resources Committee Tuesday.“We now have eternal fire seasons, water shortages and increased drought, more severe flooding, and increased numbers of extreme heat days that put our residents and our infrastructure at risk,” state Sen. Anthony Portantino (D-La Cañda Flintridge), one of the bill’s authors, said in a prepared statement.“These events are already costing California billions of dollars every year. We must take bold action now to fund solutions to reduce these effects and adopt the necessary preventative measures to protect vulnerable communities and our natural resources,” Portantino said.California’s 4th Climate Assessment, prepared by the California Natural Resources Agency, the California Energy Commission, and the California Governor’s Office of Planning and Research, has determined the cost of climate change for California alone could be more than $113 billion annually by 2050.The assessment found that these costs will only compound if the state does not take action now to reduce the risk of climate change impacts, such as more severe wildfires, prolonged drought, and deadly floods.SB 45, or the Wildfire, Safe Drinking Water, Drought Preparation, and Flood Protection Bond Act of 2022, proposes a general obligation bond to provide much-needed revenue to address these impacts.The measure proposes funds to reduce fire risk and restore areas that are already damaged; restore and protect impacted wetlands, watersheds, and waterways; reduce impacts on vulnerable populations; and improve the resiliency of water supplies and agricultural lands.Wildfires are increasingly occurring every year. Some experts say the intense wildfires, coupled with a devastating multi-year drought, demonstrates that the impacts of climate change are being felt and already costing California billions of dollars every year.Supporters of SB 45 include the Alliance of Nurses for Healthy Environments, the Big Sur Land Trust, the California Coastkeeper Alliance, the California Invasive Plant Council, Marin County, Sacramento Couty, the Eastern Sierra Land Trust, Friends of Desert Mountains, the Surfrider Foundation, the Mountains Recreation and Conservation Authority, the Nature Conservancy, Outdoor Alliance California, the Peninsula Open Space Trust, Placer County Water Agency, the Planning and Conservation League, Safe Agriculture Safe Schools, the Santa Clara Valley Open Space Authority, the Smith River Alliance, the Sonoma Water, Transition Habitat Conservancy, the Trust for Public Land, the Western Rivers Conservancy, Wholly H20, and the Wildlands Conservancy. Subscribe Community News $5.5 Billion Fire Prevention and Climate Resiliency Bond Co-Sponsored by Local Senator Passes Senate Natural Resources Committee STAFF REPORT Published on Tuesday, March 16, 2021 | 2:33 pm STAFF REPORT First Heatwave Expected Next Week Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

Book of condolences for Dolores O’Riordan brings comfort to her family

first_imgNewsLocal NewsBook of condolences for Dolores O’Riordan brings comfort to her familyBy Alan Jacques – March 29, 2018 2162 TAGSbook of condolencesDolores O’RiordanlimerickLimerick City and County CouncilThe Cranberries Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” Linkedin Previous articleLos Paradiso bring scorching bluesNext article‘Fully resourced’ crime office needed in Bruff Alan Jacqueshttp://www.limerickpost.ie Limerick’s National Camogie League double header to be streamed live WhatsApp Print Email Twittercenter_img Eileen O’Riordan receiving the book of condolences from Mayor Stephen Keary.THE book of condolences for Limerick songbird Dolores O’Riordan, who died suddenly in January, gave comfort to her grieving family this week after it was presented at a ceremony in City Hall this Wednesday.Mayor Stephen Keary presented the book with over 16,000 signatures — the biggest book of condolence ever in the history of the local authority — to Dolores’ mother Eileen, brothers Donal, Terry and Joe and other family members.“I feel so happy that the people of Limerick were so good. I can’t believe the reaction of everybody. The love that poured out and the support, everybody was so supportive,” Eileen O’Riordan said on being presented with the book of condolences.Sign up for the weekly Limerick Post newsletter Sign Up “It’s very hard to absorb it you know, it is really to think about my little girl, you know, and what she did in her life, you know it’s nice. It is really lovely. I miss her an awful lot, sometimes I don’t miss the rock star but I miss my little girl. You know I can look at all her picture and watch her on telly without getting upset, but if I look at her confirmation pictures and the like, that is upsetting alright. I’m sure she’s in Heaven, only for my faith with Easter coming — new life, Spring — I believe she is in Heaven.”Dolores’ grieving mother Eileen also said she was “amazed” that so many signed the book of condolences for her daughter.“This is amazing. I can’t believe that all those names are there and all those people and I will read them. I will read every one of them in my own time. Getting this book is another step forward, moving on and I feel she’s happy, I really feel she’s happy. I feel her spirit is around all the time.“She was that type of person anyway. When she’d come in to the room, even as a child, she would grab the attention. She is in Heaven, please God and she is with us. People are coming to her grave all the time, even last weekend, there were three Americans, two Spaniards and two Italians, as well as people from around Limerick, they still come to her grave, bringing flowers. The whole world knew her, everybody in any country of the world knew her, even the record company didn’t realise she was so loved.”by Alan [email protected] RELATED ARTICLESMORE FROM AUTHOR Predictions on the future of learning discussed at Limerick Lifelong Learning Festival WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Facebook Advertisement Limerick Ladies National Football League opener to be streamed live Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clashlast_img read more

Effect Of 2015 Amendment To The Arbitration And Conciliation Act On Limitation Period To Challenge Arbitral Awards

first_imgColumnsEffect Of 2015 Amendment To The Arbitration And Conciliation Act On Limitation Period To Challenge Arbitral Awards Amit Anand Tiwari30 May 2020 1:39 AMShare This – xThe regime of alternative dispute resolution worldwide and more specifically in India has attracted small and big commercial enterprises to get their disputes resolved through arbitral proceedings. The Arbitration & Conciliation Act, 1996 (“the Act”) governs the procedure relating to such arbitral proceedings from its invocation to rendering of Award and to its challenge in quite…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 regime of alternative dispute resolution worldwide and more specifically in India has attracted small and big commercial enterprises to get their disputes resolved through arbitral proceedings. The Arbitration & Conciliation Act, 1996 (“the Act”) governs the procedure relating to such arbitral proceedings from its invocation to rendering of Award and to its challenge in quite some detail. This Article examines the effect of Arbitration and Conciliation (Amendment) Act 2015 (2015 Amendment) on the issue of period of limitation to challenge an award under Section 34 of the Act. It argues that the period of limitation should be counted only from the day when a duly stamped Award is communicated to the parties and not from the day of mere communication, irrespective of sufficiency of the stamp duty paid on such Award. It is pertinent to note that the Award delivered by an Arbitral Tribunal is mandatorily required to be stamped as per Section 3 of the Indian Stamp Act (Schedule I, Entry 12) (“Stamp Act”). Duty to pay such stamp by virtue of Section 29 of Stamp Act is on the person drawing, making or executing such instrument meaning thereby the Arbitrator(s) are required to affix a proper stamp on the Award. In practice, the requisite stamp duty to be affixed on the award is paid by the Decree Holder i.e. the party, who is the beneficiary of such Award. Section 33 of the Stamp Act requires that every person having, by law or consent of parties, authority to receive evidence, and every person in charge of a public office, except an officer of police, before whom any instrument is produced or comes before in the performance of his functions, to impound the same if he finds that the instrument is not duly stamped. In several judgments, the Courts have held that the use of the word ‘shall’ in Section 33(1) of the Stamp Act shows that there is no discretion in the authority to impound a document or not to do so. Therefore, impounding such a document is mandatory. (Ref: Government of Andhra Pradesh and Ors. vs. P. Laxmi Devi[1]; Ram Rattan (Dead) by Lrs. vs. Bajrang Lal and Ors.[2]). It is seen that after passing of Award the Arbitrators, in a routine manner, communicate the Award to the parties without getting it sufficiently stamped. In some cases the Arbitrators add a caveat in the Award itself saying ‘the Award shall be enforceable only on affixation of appropriate stamp duty’. In this context it is to be noted that as per Section 34 (3) of the Act, the period of limitation to challenge an Award starts running from the date the Award is communicated to the parties. As the limitation law is very strict, communication of Awards by the Arbitrators leaves the Judgment Debtor with no choice but to challenge such Award under Section 34 of the Act, without waiting for the Award to be sufficiently stamped by the decree holder. A scrutiny of judicial pronouncements of earlier period regarding stamping of Arbitral Awards project the view that having regard to the scheme of the Stamp Act, an Award must be stamped before its contents are published and the result known. Courts noted that the duty to stamp an Award is cast upon the Arbitrator, and the Arbitrator ought to direct the party to provide the Arbitral Tribunal with the requisite stamp paper and ensure that the Award is not published on plain paper (Ref: Ramkumar vs. Kushalchand Ganeshdas and Ors.[3], Emperor v. Brij Pal Saran[4]). In Emperor v. Puttoo Lal and Ors.,[5] the Arbitrators were in fact prosecuted for signing an unstamped award. In Union of India v. M/s Delton Cable Company[6], the Delhi High Court had held that an award must be stamped before or at the time that the arbitrator signs it, and it can only begin to have effect after that is done. In the case of Hindustan Steel Ltd. vs. Dilip Construction Company[7], where an argument was raised that a combined reading of Section 35 & 36 of the Stamp Act shows that an unstamped Award may, on payment of stamp duty and penalty can be taken into evidence, but inspite of such payment, the Award cannot be acted upon. While rejecting this argument the Hon’ble Supreme Court noted that, “The Stamp Act is a fiscal measure enacted to secure revenue for the State on certain classes of instruments, it is not enacted to arm a litigant with a weapon of technicality to meet the case of his opponent. The stringent provisions of the Act are conceived in the interest of the revenue. Once that object is secured according to law, the party staking his claim on the instrument will not be defeated on the ground of the initial defect in the instrument.” Issue regarding challenge to an Award under Section 34 of the Act on the ground of insufficiency of stamp duty was conclusively decided in M. Anasuya Devi and Ors. vs. M. Manik Reddy and Ors.[8], in 2003, wherein the Hon’ble Supreme Court held that the issue of stamping of Award was not required to be gone into in a proceedings under Section 34 of the Act. In reaching this conclusion, the Hon’ble Court held that, “It is not in dispute that an application for setting aside the Award would not lie on any other ground, which is not enumerated in Section 34 of the Act. The question as to whether the Award is required to be stamped and registered, would be relevant only when the parties would file the Award for its enforcement under Section 36 of the Act. It is at this stage the parties can raise objections regarding its admissibility on account of non-registration and non-stamping under Section 17 of the Registration Act.” The Court drew a distinction between the nature of proceedings under Section 34 and Section 36 of the Act. In 2010 in Eider PW1 Paging Limited and Ors. vs. Union of India (UOI) and Ors.[9], a Ld. Single Judge of the Delhi High Court, while referring* 5 issues for consideration to a larger bench, noted that the finding in Anasuya (supra) is at odds with the settled law that an unstamped instrument must be impounded by the authority as given under Section 33 of the Stamp Act. Further, the Hon’ble High Court noted that if Anasuya interpretation is adopted, the intention of the legislature in requiring payment of proper stamp duty will be defeated. The High Court held that some awards never reach the stage of execution at all, and in view of Anasuya there will be no insistence on payment of stamp duty as it has to be seen only at the stage of execution. (*The Reference was returned unanswered by the Division bench vide Order dated 14.09.2011 by holding that the basis of reference, viz whether even in nil award cases stamp duty is payable is already decided as far back as in 1980s). In 2011 in the case of M. Sons Enterprises Pvt. Ltd. and Ors. vs. Suresh Jagasia and Ors.[10], the Hon’ble High Court of Delhi, dismissed the contention of the Petitioners that the Anasuya judgment (supra) is per-incuriam or sub-silentio on the provisions of the Stamp Act. The Court held that the Apex Court was very much conscious of the said provisions of the Stamp Act and Anasuya only states that the objections on account of deficiency in stamping and registration of the Award fall outside the ambit of Section 34 of the Act. While arriving at this conclusion, the Hon’ble High Court considered that the Act focusses on expediency and taking up issues under the Stamp Act at the Stage of Section 34 of the Act would cause indefinite delay in disposal of objections under the said section. In the case of DM Jawhar Merican v. Engineers India Ltd.[11], decided by the Hon’ble High Court of Delhi, the Appellant had argued that the period of limitation should only start running when the Appellant received the final award duly stamped. The Hon’ble High Court while rejecting the said argument relied upon the decision of Anasuya (Supra) . The High Court further relied upon the Apex court decision in the case of Chiranji Lal (D) by Lrs. vs. Hari Das (D) by Lrs.[12] wherein the Apex Court held that as the engrossment of a stamp would relate back to the date of decree, therefore the start of period of limitation cannot be dependent upon the engrossment of decree on the stamp paper. The Apex Court also noticed the uncertainty as to the date of furnishing of stamp paper and therefore held that date of stamping of decree has no connection with the date of start of period of limitation. In this backdrop, the Hon’ble High Court in the DM Jawhar Merican case (supra) drew a distinction between enforceability (the legal validity or correctness) and executability of an award and held that the date when the award is duly stamped is not relevant for the start of period of limitation, but the sole criteria to determine the period of limitation is the date when the award is communicated to the parties. Therefore, it is evident that law as exists today makes absolutely no distinction between an unstamped/ insufficiently stamped and properly stamped award, for the purpose of calculating the period of limitation. Effect of 2015 Amendments on the Issue of Limitation A significant change was brought by 2015 Amendment in the Act. One of amendment relates to Section 36, whereby the provision for an automatic stay of an award, when challenged under Section 34, is done away with. After the 2015 Amendment, Section 36(2) added stating that mere filing of an Application under Section 34 will not render the Award unenforceable unless Court grants an Order of stay of the operation. With above noted amendments, the issue of enforceability of the Award under Section 36 became intricately entwined with Section 34. Filing of an objection under Section 34 against an Award by an aggrieved party would now require the Court to consider the issue of stay in the context of Section 36. Therefore, Section 36 comes into play immediately after filing of an objection under Section 34. The judgments noted above, have been relying upon Anasuya (supra), while examining the question of limitation from the perspective of enforceability of the Award, holding that Sections 34 and Section 36 operate in mutually different spheres. This view was based on a reading of the provisions of the Act prior to the 2015 Amendment. Post 2015 Amendment, the entire substratum of Anasuya (supra) which held that lack of improper stamping of the Awards is not required to be examined at the stage of Section 34 objections, and same is an issue required to be dealt with at the stage of Section 36, is no longer available- because after 2015 Amendment, by virtue of Section 36(2), the Award becomes enforceable the very first day of passing of such an Award. Therefore, the issue whether an Award is duly stamped or not is now required to be examined at the Section 34 stage itself. Further, by virtue of 2015 Amendment, any application for stay of Award has to be proceeded with as if it is seeking stay of money decree under the Civil Procedure Code. Money decrees are generally not stayed or the parties are asked to deposit the sum awarded. Therefore, there is a strong likelihood that in the new regime, the Awards would be enforced at the stage of Section 34 itself. Therefore if view of Anasuya (supra) is followed and sufficiency of stamp is not looked at the stage of Section 34 itself it would jeopardise the revenue of the State and the larger public interest. In this backdrop, post 2015 Amendment, issue of non-stamping of Award should be examined not only with reference to enforceability under section 36 but also at the stage of Section 34 from the standpoint of counting the period of limitation. In such changed circumstances, it appears that the law laid down in Jawhar (supra) and Anasuya (supra) requires reconsideration. The significance of this argument can also be seen from the fact that the common practice of the courts is to enforce Awards at Section 34 or appellate stage itself, without requiring the Decree Holder to file an Execution Petition. Hence, requirement of payment of stamp duty by such Decree Holder on insufficiently or unstamped Award remains unfulfilled thereby, causing loss to the public exchequer. In a recent decision Garware Wall Ropers Ltd. vs Coastal Marine Constructions and Engineering Ltd.[13], the Hon’ble Supreme Court while dealing with the effect of an arbitration clause contained in an unstamped agreement, held that doctrine of harmonious construction of statutes is strongly embedded in our interpretative canon and therefore, the provisions must be construed in a way that reconciles the differences. Here, the Hon’ble Court while dealing with Sections 33 and 34 of the Maharashtra Stamp Act, which provides for impounding of instruments and inadmissibility of unstamped instruments in evidence, decided to enforce a time limit within which the issues qua payment of stamp duty and penalty (if any) are to be decided so that the purpose of the Stamp Act is not defeated and the intent for expeditious disposal of arbitration matters under the Act is also fulfilled. Doctrine of harmonious construction comes into play furthering the purposes for which the enactment are made. Therefore, in my opinion, with the harmonious construction of Stamp Act with the provisions of the Act, keeping in view the larger public interest and preventing loss of revenue to the State, an Award under Section 34 should be treated as an Award for determining the limitation period only when the Award is duly stamped and communicated to the parties. Applying the doctrine of harmonious construction to the post-2015 Amendment scenario will ensure that the Decree Holder, from the very first instance of receiving the Award, would take care that the Award is duly stamped. In the event he fails to get the Award duly stamp and in absence of any such communication of duly stamped Award to the Judgment Debtor, the period of limitation will not start running, and such judgment debtor would not be required to approach court under Section 34 and seek stay. This will ensure expeditious payment of stamp duty. Conclusion In conclusion, the period of limitation to challenge an Award under Section 34 of the Arbitration and Conciliation Act 1996, should start running only when an Award, which is duly stamped, is communicated to the parties and not from the date of mere communication irrespective of sufficiency of stamp affixed on the Award. This change can be brought about by suitably interpreting the provisions of the Arbitration and Conciliation Act and Stamp Act or by bringing in legislative changes, casting a responsibility on the Arbitrator to:- Initially communicate only the summary of the Award for facilitating payment of Stamp duty; and To publish the full Award only when the necessary stamp duty is paid on such Award. Amit Anand Tiwari is an Advocate at the Supreme Court of India. Views are personal only. [1] (2008) 4 SCC 720 [2] (1978) 3 SCC 236 [3] (1927) SCC OnLine MP 156 [4] (1910) 32 ILR Allahabad 198 [5] AIR 1924 Oudh 240 [6] (ILR (1975) II Delhi 142 [7] (1969) 1 SCC 597 [8] (2003) 8 SCC 565 [9] 2010 (115) DRJ 263 [10] 2011 (123) DRJ 266 [11] ILR (2009) IV Delhi 571 [12] (2005) 10 SCC 746(para 25) [13] (2019) 9 SCC 209 Next Storylast_img read more

Don’t Demoralize Registry With Irresponsible Allegations, SC Tells Lawyer Who Complained Of Discrimination In Listing Cases

first_imgTop StoriesDon’t Demoralize Registry With Irresponsible Allegations, SC Tells Lawyer Who Complained Of Discrimination In Listing Cases Sanya Talwar19 Jun 2020 12:34 AMShare This – xThe Supreme Court on Friday took serious objections to the allegations raised by Advocate Reepak Kansal, who complained that the SC Registry was showing discrimination and undue preferences in the matter of listing of all cases.When the petitioner stated that the petition filed by him seeking “One Nation One Ration Card” was not given prompt listing, the bench pointed out that the petition…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 on Friday took serious objections to the allegations raised by Advocate Reepak Kansal, who complained that the SC Registry was showing discrimination and undue preferences in the matter of listing of all cases.When the petitioner stated that the petition filed by him seeking “One Nation One Ration Card” was not given prompt listing, the bench pointed out that the petition had defects.The bench comprising Justices Arun Mishra, Abdul Nazeer and M R Shah also expressed displeasure at the petitioner for citing Arnab Goswami’s case as an example of ‘preferential treatment’.”How can you compare your Petition on One Nation One Ration Card to the plea of Arnab Goswami? What was the urgency? Why are you saying nonsensical things?”, the bench said.”All members of registry work day and night to make your life easier. You are demoralising them. How can you say such things?”, the bench added.Justice Arun Mishra stressed “registry is not subordinate to us. They’re very much part and parcel of SC”.After chiding the petitioner for “irresponsible” allegations, the bench reserved orders in the matter.The petition by way of a Public Interest Litigation urged that the intervention of the Court is necessary in order to dissuade the Registry eco-system from discriminating and humiliating litigants.Kansal has stated that the Section officers and/or Registry of Supreme Court routinely gave preferences to some law firms and influential advocates for reasons “best known to them”. “This is discrimination and against equal opportunity to get justice in this Hon’ble Court”, he states.The petitioner-lawyer also drew attention in his averments to the immediate listing of Republic TV’s Editor In Chief Arnab Goswami’s plea, which was filed at 8.07 PM and was listed the next day within one hour as declared in the Supplementary list of the Supreme Court website.”Because, the Respondent no. 2/ Filing Section take several days to check / point out the defects if, it is filed by an ordinary petitioner or lawyers and list the cases within few minutes by ignoring the defects / procedure if, it is filed by any influential lawyer or petitioner”The plea further contended,”There is no procedure was followed by the Registry i.e. filing application for urgent hearing or letter etc which was necessary for the urgent listing of the cases during nation lock down”The plea also contended that seeing this “discriminatory” practice adopted by the Registry and after failing to get his petition listed despite a letter of urgency on record annexed with the petition, Kansal complained to Secretary General of the Top Court via email. No response was given by the respondents, he states.Next Storylast_img read more