Renesas and Dialog Semiconductor to Join Forces to Advance Global Leadership in Embedded Solutions

first_img Twitter Renesas and Dialog Semiconductor to Join Forces to Advance Global Leadership in Embedded Solutions By Digital AIM Web Support – February 8, 2021 WhatsApp Twitter Dialog Semiconductors Mark Tyndall phone: +49 (0)172 7226409 email:[email protected] Investor Relations Contacts: Renesas Electronics Corporation Masayuki Nagayama +81 3-6773-3002 [email protected] Facebook Facebook FTI Consulting Matt Dixon Rob Mindell phone:+ 44 (0) 203 727 1000center_img Dialog Semiconductors Jose Cano phone: +44 (0) 1793 756 961 email:[email protected] KEYWORD: CALIFORNIA UNITED STATES UNITED KINGDOM JAPAN NORTH AMERICA ASIA PACIFIC EUROPE INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS SEMICONDUCTOR ENGINEERING AUTOMOTIVE MANUFACTURING MANUFACTURING INTERNET HARDWARE CONSUMER ELECTRONICS SOURCE: Renesas Electronics Corp. Copyright Business Wire 2021. PUB: 02/08/2021 04:47 AM/DISC: 02/08/2021 04:47 AM http://www.businesswire.com/news/home/20210208005315/en TOKYO & LONDON–(BUSINESS WIRE)–Feb 8, 2021– Renesas Electronics Corporation (“Renesas”, TSE: 6723), a supplier of advanced semiconductor solutions, and Dialog Semiconductor Plc (“Dialog”, XETRA:DLG ), a provider of power management, charging, AC/DC power conversion, Wi-Fi and Bluetooth® low energy (BLE) technology, today announced they have reached an agreement on the terms of a recommended all-cash acquisition by Renesas of the entire issued and to be issued share capital of Dialog (the “Acquisition”) for EUR 67.50 per share, representing a total equity value of approximately EUR 4.9 billion (approximately 615.7 billion yen). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210208005315/en/ Dialog is an innovative provider of highly-integrated and power-efficient mixed-signal ICs for a broad array of customers within IoT, consumer electronics and high-growth segments of automotive and industrial end-markets. Centered around its low-power and mixed-signal expertise, Dialog brings a wide range of product offerings including battery and power management, power conversion, configurable mixed-signal (CMIC), LED drivers, custom mixed-signal ICs (ASICs), and automotive power management ICs (PMICs), wireless charging technology, and more. Dialog also offers broad and differentiated BLE, WiFi and audio system-on-chips (SoCs) that deliver advanced connectivity for a wide range of applications; from smart home/building automation, wearables, to connected medical. All these systems complement and expand Renesas’ leadership portfolio in delivering comprehensive solutions to improve performance and efficiency in high-computing electronic systems. “The transaction we announced today represents our next important step in catapulting Renesas’ growth plan to achieve substantial strategic and financial benefits, following our previous acquisitions,” said Hidetoshi Shibata, President and CEO of Renesas. “Dialog has a strong culture of innovation along with excellent customer relationships and serves fast growing areas including IoT, industrial and automotive. By bringing Dialog’s talented team and expertise into Renesas, together, we will accelerate innovation for customers and create sustainable value for our shareholders.” “For several years, we have successfully executed on a diversification strategy that positions Dialog for high-growth,” said Dr. Jalal Bagherli, CEO of Dialog. “We have built a strong foundation of high-performance analog and power efficient mixed-signal expertise, extended our product portfolio and applied our technologies into markets including 5G, wearables, automotive, smart home, connected medical and industrial IoT. This compelling platform – combined with Renesas’ leading embedded compute, analog and power portfolio – creates even greater growth opportunities in today’s increasingly connected world. The Dialog team is excited to join forces with Renesas. The combined company will be in an even stronger position to provide innovative products for these markets, building on Renesas’ extensive sales, distribution and customer support capabilities.” Strategic and Financial Rationale The acquisition announced today demonstrates Renesas’ continued and unwavering commitment to further advance its solution offering. The complementary nature of the companies’ technological assets and the scale of the combined portfolios will enable Renesas to build more robust and comprehensive solutions to serve high-growth segments of the IoT, industrial and automotive markets. Renesas believes there is a compelling strategic and financial rationale for the Acquisition because it:Scales Renesas’ IoT sector capabilities with Dialog’s low-power technologies Dialog has a differentiated portfolio of low-power mixed-signal products, decades of experience in developing custom and configurable solutions for the world’s largest customers and expertise in low-power connectivity that are highly complementary to Renesas. The acquisition of these low-power technologies enhances Renesas’ product portfolio and expands horizons in addressing high-growth markets in the IoT field.Unlocks further differentiation to Renesas system solution with connectivity Bringing together Renesas and Dialog will extend the combined group’s reach to a broader customer base and open up additional growth potential in the key growth segments: industrial infrastructure, IoT and automotive. Dialog’s BLE, WiFi and audio SoCs are highly complementary to Renesas’ microcontroller (MCU)-based solutions. Combining Dialog’s innovative low-power Wi-Fi and Bluetooth® SoCs and expertise with Renesas’ technologies will enable Renesas to further differentiate its system solution offering and extend its footprint in high-growth segments, including contactless IoT applications for smart home/building automation and healthcare. Renesas’ automotive solutions will also be enriched with connectivity for a wide range of security and safety applications.Adds engineering and design scale and more effective go-to-market initiatives The past acquisitions brought diverse talent and management capabilities to expand Renesas’ global operations. The transaction announced today extends this effort and enables Renesas to add engineering and design scale in low-power analog and mixed signal. The addition of Dialog’s strong R&D and geographical presence will also allow Renesas to expand its “Winning Combinations” lineup of innovative solutions and make its go-to-market initiatives more effective to provide seamless and borderless services to customers around the globe. In 2017 and 2019, Renesas acquired Intersil Corporation and Integrated Device Technology, Inc. (“IDT”) to expand its analog solution lineup and to strengthen its kit solution offerings that combine its MCUs, SoCs and analog products. At the same time as the closing of IDT acquisition, Renesas began capitalizing on the integration by offering “Winning Combinations”, compelling Analog + Power + Embedded Processing product combinations that help customers accelerate their designs and get to market at a faster rate. These combinations now add up to more than 210 solutions, focusing on verticals including industrial, infrastructure, automotive, and consumer.Delivers earnings accretion and cost savings Renesas anticipates incremental revenue growth of approximately 200 million USD (non-GAAP operating income, approximately 21.0 billion yen) from cross selling and access to fast-growing industries alongside continued innovation of solution offerings; expects cost savings from operational efficiencies to result in a financial impact of approximately 125 million USD (non-GAAP operating income per year on a run rate basis, approximately 13.1 billion yen). Renesas anticipates the cost savings to realize in approximately 3 years after closing, and revenue growth to realize in approximately 4 to 5 years after closing. Dialog’s underlying EBITDA (non-IFRS measure) for the 12-month period to 25 September 2020 was equivalent to 35.5 billion yen. Had the transaction been effective throughout that period, Renesas’ non-GAAP gross margin would have been approximately 0.6 percentage points higher. Additional Transaction Details Under the terms of the agreement, Renesas will pay EUR 4.9 billion in cash for all the issued and to be issued share capital of Dialog at a price per share of EUR 67.50. The offer price corresponds to a 20.3 percent premium to Dialog’s closing price of EUR 56.12 on February 5, 2021, being the last business day before the date of this announcement. Renesas plans to finance the transaction with bank loans of approximately 735.4 billion yen (Note). The transaction has been unanimously approved by the boards of directors of both companies and is expected to close by the end of calendar year 2021. The transaction will be structured as a court-approved scheme of arrangement under the UK Companies Act 2006 and Dialog is expected to send the necessary documentation to its shareholders for the purposes of seeking their approval for the transaction within 28 days of this announcement. Completion of the transaction is subject to approval by Dialog shareholders as well as regulatory approvals and other customary closing conditions. (Note) Renesas plans to raise equity finance by issuing new shares. Depending on the timing or other conditions of the equity finance, it is entirely possible that the portion of the aforementioned bank loans may not take place and instead funds procured through equity finance by way of issuance of new shares may be used as the payment for the Acquisition. Advisors and counsel Nomura International Plc. is serving as financial advisors to Renesas; Covington & Burling LLP and Nagashima Ohno & Tsunematsu are serving as Renesas’ legal counsel. J.P. Morgan and Qatalyst Partners are serving as financial advisors to Dialog; Linklaters LLP are serving as Dialog’s legal counsel. (Note) Figures in this press release are calculated at the rate as of February 3, 2021: 105 yen per dollar and 126 yen per Euro. Zoom Webcast information Renesas and Dialog management will host a Zoom webinar to discuss details of the transaction at 9:00 a.m. Greenwich Mean Time / 6:00 p.m. Japan Time today. Shareholders, analysts, investors and media are invited to join the live webcast by registering using the following link: https://zoom.us/webinar/register/WN—yUyWOsO3Ry6gpOKxMYh7FQ. A recording and the accompanying presentation relating to the transaction will be available on the investor relations section of the Renesas website at https://www.renesas.com/us/en/about/investor-relations. After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast. About Renesas Electronics Corporation Renesas Electronics Corporation ( TSE: 6723 ) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live—securely and safely. With an extensive portfolio of microcontrollers, analog, power, and SoC products, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics (HE), Office Automation (OA) and Information Communication Technology (ICT) applications to help shape a limitless future. Learn more at renesas.com. About Dialog Semiconductor Dialog Semiconductor is an innovative provider of integrated circuits (ICs) that power mobile devices, consumer Internet of Things and Industry 4.0 applications. Dialog solutions are integral to some of today’s leading mobile devices and the enabling element for increasing performance and productivity on the go. From making smartphones more power efficient and shortening charging times, enabling home appliances to be controlled from anywhere, to connecting the next generation of wearable devices, Dialog’s decades of experience and world-class innovation help manufacturers get to what’s next. Dialog operates a fabless business model and is a socially responsible employer pursuing many programs to benefit the employees, community, other stakeholders and the environment it operates in. Dialog is headquartered in the United Kingdom with a global sales, R&D and marketing organization. For the year ending 31 December 2019, it reported 1.42 billion USD in revenue and underlying operating profit of 324 million USD. It currently has approximately 2,300 employees worldwide. The company is listed on the Frankfurt Stock Exchange (FWB: DLG). For more information, visit www.dialog-semiconductor.com. Cautionary note regarding forward-looking statements This announcement may contain certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Renesas and/or Dialog and/or the combined group following completion of the Acquisition and certain plans and objectives of Renesas with respect thereto. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as ‘anticipate’, ‘target’, ‘continue’, ‘estimate’, ‘expect’, ‘‘forecast’, ‘intend’, ‘may’, ‘plan’, ‘goal’, ‘believe’, ‘hope’, ‘aims’, ‘continue’, ‘could’, ‘project’, ‘should’, ‘will’ or other words of similar meaning. These statements are based on assumptions and assessments made by Renesas and/or Dialog (as applicable) in light of their experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement. Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Neither Renesas nor Dialog undertakes any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law. There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. If any one or more of these risks or uncertainties materializes or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward looking statements should therefore be construed in the light of such factors. No member of the Renesas group or the Dialog group nor any of their respective associates, directors, officers, employers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur. Except as expressly provided in this announcement, no forward-looking or other statements have been reviewed by the auditors of the Renesas group or the Dialog group. All subsequent oral or written forward-looking statements attributable to any member of the Renesas group or the Dialog group, or any of their respective associates, directors, officers, employers or advisers, are expressly qualified in their entirety by the cautionary statement above. (Remarks) Dialog and the Dialog logo are trademarks of Dialog Semiconductor Plc or its subsidiaries. Bluetooth is a registered trademark of Bluetooth SIG, Inc. of the United States. All other product or service names are the property of their respective owners. View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005315/en/ CONTACT: Media Contacts: Renesas Electronics Corporation Kyoko Okamoto +81 3-6773-3001 [email protected] TAGS  Local NewsBusiness Pinterest WhatsApp Pinterest Previous articleUnited States Wound Care Management Market Growth Trends and Forecasts to 2025, Featuring Key Players 3M Company, Braun Melsungen AG, Cardinal Health, Inc., Coloplast A/S, Johnson and Johnson and More – ResearchAndMarkets.comNext articleUK Digital Health Market Report – Is IT Investment Sufficient to Sustain a Long-term Digital Health Revolution Beyond Covid-19? – ResearchAndMarkets.com Digital AIM Web Supportlast_img read more

New super’s contract on agenda

first_img Pinterest Facebook Twitter Facebook Local News Ector County Independent School District’s lone finalist for a new superintendent  Scott Muri explains his reasons for coming to Ector County after being named to the position during meeting Tuesday afternoon at the ECISD Administration Building. The Ector County ISD Board of Trustees will meet in executive session at 6 p.m. Wednesday in the board room of the administration building, 802 N. Sam Houston Ave. Trustees will discuss the status of the superintendent’s contract negotiations. Scott Muri, currently superintendent of Spring Branch Independent School District in Houston, was named the lone finalist by the school board April 23 by a 7-0 vote. By law, the school board must wait 21 days before finalizing a contract with Muri. He will replace Interim Superintendent Jim Nelson who was appointed after former Superintendent Tom Crowe retired last fall. The firm of Hazard, Young, Attea and Associates conducted the search for the new school chief. Mike Atkins, the attorney for the school district, said this is not out of the ordinary to have a discussion on the status of the superintendent designee’s contract. At the regular May 14 board meeting, Atkins said he and the board will go over the contract again in executive session. Tentatively, the plan is to have a special meeting May 15 to approve everything. Atkins said that will be the 22nd day. Muri has a bachelor’s degree in intermediate education and middle school education from Wake Forest University; a master’s degree in public school administration from Stetson University in Deland, Fla., and a doctorate in educational leadership from Wingate University in Matthews, N.C. Muri has been superintendent in Spring Branch for four years. During that time, academic achievement gaps narrowed in five of five areas and overall student achievement rose, a news release stated. He oversaw the redesign of the compensation system and recruiting efforts to more effectively recruit and retain employees, the release detailed. Spring Branch has a budget of $300 million, student enrollment of 35,000 ranging from high wealth to economically disadvantaged and 4,600 employees. He also has served as deputy superintendent of academics in Fulton County Schools in Atlanta, which has 96,000 students and 100 campuses. Before that, he spent five years at Charlotte-Mecklenburg Schools in Charlotte, N.C. His roles included area superintendent, zone superintendent and chief information officer overseeing research and evaluation, along with technology infrastructure and instructional technology innovation. He has been an elementary school teacher, middle school math/science teacher, instructional technology specialist and high school dean of students and assistant principal and principal, the release said. WhatsApp WhatsAppcenter_img TAGS  Previous articlePoetry Readings and Book SigningsFort Worth poet featured in PBPS eventNext articleWoman charged with biting another woman on hand Digital AIM Web Support By Digital AIM Web Support – February 24, 2021 Pinterest New super’s contract on agenda Twitterlast_img read more

Delhi HC Rejects Plea Challenging Selection Of Vice-Chancellor Of NLU Delhi

first_imgNews UpdatesDelhi HC Rejects Plea Challenging Selection Of Vice-Chancellor Of NLU Delhi Karan Tripathi24 Sep 2020 10:17 PMShare This – xThe Delhi High Court on Friday rejected a plea challenging the validity of the procedure adopted by the Selection Committee to appoint the Vice-Chancellor for the National Law University, Delhi. The Single Bench of Justice Jyoti Singh dismissed the plea by noting that there’s no violation of Article 14 in the procedure adopted by the Selection Committee. Moved by Dr…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 Delhi High Court on Friday rejected a plea challenging the validity of the procedure adopted by the Selection Committee to appoint the Vice-Chancellor for the National Law University, Delhi. The Single Bench of Justice Jyoti Singh dismissed the plea by noting that there’s no violation of Article 14 in the procedure adopted by the Selection Committee. Moved by Dr Prasannanshu, who’s one of the applicants for the said post, the petition argues that the procedure adopted by the Selection Committee violates Article 14 of the Constitution as it is arbitrary and creates artificial differentiation. On October 11, 2019, a notification was issued by the convener of the Selection Committee of the National Law University, Delhi inviting nominations for the post of Vice-Chancellor, National Law University, Delhi (NLUD) along with the minimum eligibility criteria. On February 05, 2020, the said Selection Committee held a meeting and decided to call all the applicants for an interview on February 25. The Petitioner is aggrieved by the fact that despite meeting the minimum eligibility criteria, he neither received any communication to be present in this interaction meeting nor did he get any letter/communication highlighting any grounds or reasons for rejection of his candidature. The Petitioner has argued that: ‘That the Petitioner was not called, despite fulfilling the minimum eligibility criteria, by the Selection committee whereby other candidates were duly called for the said post and hence the petitioner was not treated at par with the other candidates. Therefore, the fundamental right of right to quality of the Petitioner was violated which is enshrined under Article 14.’ It is further submitted by the Petitioner that he had also moved a representation before the Chancellor of NLU Delhi but received no response. The Petitioner has therefore alleged that the Selection Committee has adopted an arbitrary and discriminatory procedure with regards to his candidature. Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Words “Tries An Offence” Are More Appropriate Than The Words “Tries An Offender” In Section 461(l) CrPC, Says SC [Read Judgment

first_imgTop StoriesWords “Tries An Offence” Are More Appropriate Than The Words “Tries An Offender” In Section 461(l) CrPC, Says SC [Read Judgment LIVELAW NEWS NETWORK30 Sep 2020 10:59 PMShare This – xThe words “tries an offence” are more appropriate than the words “tries an offender” in section 461 (l), the Supreme Court opined while considering a Transfer Petition filed on the ground of lack of territorial jurisdiction.Justice V. Ramasubramanian observed that there seems to be some incongruity between Section 461(l) and Section 462 of the Code of Criminal Procedure.Under Clause (l)…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 words “tries an offence” are more appropriate than the words “tries an offender” in section 461 (l), the Supreme Court opined while considering a Transfer Petition filed on the ground of lack of territorial jurisdiction.Justice V. Ramasubramanian observed that there seems to be some incongruity between Section 461(l) and Section 462 of the Code of Criminal Procedure.Under Clause (l) of Section 461 if a Magistrate not being empowered by law to try an offender, wrongly tries him, his proceedings shall be void. However, under Section 462, no finding, sentence or order of any Criminal Court shall be set aside merely on the ground that the inquiry, trial or other proceedings in the course of which it was arrived at or passed, took place in a wrong sessions division, district, sub­ division or other local area, unless it appears that such error has in fact occasioned a failure of justice. “A cursory reading of Section 461(l) and Section 462 gives an impression that there is some incongruity. Under Clause (l) of Section 461 if a Magistrate not being empowered by law to try an offender, wrongly tries him, his proceedings shall be void. A proceeding which is void under Section 461 cannot be saved by Section 462. The focus of clause (l) of Section 461 18 is on the “offender” and not on the “offence”. If clause (l) had used the words “tries an offence” rather than the words “tries an offender”, the consequence might have been different.”The court also noted that Section 460, which lists out nine irregularities that would not vitiate the proceedings, uses the word “offence” in three places namely clauses (b), (d) and (e). Section 460 does not use the word “offender” even once. “On the contrary Section 461 uses the word ‘offence’ only once, namely in clause (a), but uses the word “offender” twice namely in clauses (l) and (m). Therefore, it is clear that if an offender is tried by a Magistrate not empowered by law in that behalf, his proceedings shall be void under Section 461. Section 462 does not make the principle contained therein to have force notwithstanding anything contained in Section 461.”, the court further noted. Referring to Section 26 CrPC and some precedents which dealt with the old CrPC, the court said:”From the above discussion, it is possible to take a view that the words “tries an offence” are more appropriate than the words “tries an offender” in section 461 (l). This is because, lack of jurisdiction to try an offence cannot be cured by section 462 and hence section 461, logically, could have included the trial of an offence by a Magistrate, not empowered by law to do so, as one of the several items which make the proceedings void. In contrast, the trial of an offender by a court which does not have territorial jurisdiction, can be saved because of section 462, provided there is no other bar for the court to try the said offender (such as in section 27). But Section 461 (l) makes the proceedings of a Magistrate void, if he tried an offender, when not empowered by law to do.”Case no.: TRANSFER PETITION (CRL.) NO.456 OF 2019 Case name: KAUSHIK CHATTERJEE vs. STATE OF HARYANA Coram: Justice V. RamasubramanianCounsel: Sr. Adv Vikas Singh , Sr. Adv Neeraj Kishan KaulClick here to Read/Download JudgmentRead Judgment Next Storylast_img read more

Limited Liability Partnership (LLP) Can Form A Partnership Firm With An Individual Or Other Persons: Kerala High Court

first_imgNews UpdatesLimited Liability Partnership (LLP) Can Form A Partnership Firm With An Individual Or Other Persons: Kerala High Court LIVELAW NEWS NETWORK8 April 2021 11:27 PMShare This – xThe Kerala High Court held that a Limited Liability Partnership can form a partnership with an individual or other persons.In this case, a partnership deed was executed between an individual and an LLP. Registrar of Firms refused registration of the partnership firm on the ground that a LLP cannot be a partner of a firm. This was challenged before the High Court contending that the LLP is…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 Kerala High Court held that a Limited Liability Partnership can form a partnership with an individual or other persons.In this case, a partnership deed was executed between an individual and an LLP. Registrar of Firms refused registration of the partnership firm on the ground that a LLP cannot be a partner of a firm. This was challenged before the High Court contending that the LLP is liable to be treated as a person and there cannot be any objection for registering a partnership with an LLP which is a person.According to the Registrar of Firms, provisions of the Limited Liability Partnership Act 2008 are inconsistent with that of the Indian Partnership Act, 1932, pertaining to the liability. It contended that Section 25, 26 and 49 of the Indian Partnership Act makes the partners to be jointly and severally  liable with all the other partners and also severally liable for the acts of the firm, of which such person is a partner. Under Section 28 of the LLP Act, the provisions regarding the liability of the partnership firm is restricted to the contents to the LLP agreement i.e. under the LLP Act, the liability of the partner is restricted only to the extent provided in the agreement; such a provision runs contrary to Section 25 and 49 of the Indian Partnership Act, Registrar stated. It was also contended that under LLP foreign investment is permissible whereas it is not permissible under the Partnership Act.”The liability of partners of LLP and liability of the LLP as a partner under the Partnership Act would be different. The liability of partners in an LLP cannot have any relevance when the LLP itself becomes a partner, when it would be bound by the provisions in the Partnership Act. The liability of the LLP would be as in the case a company which joins a firm after entering into a partnership.”, Justice PV Asha  observed.The court further observed that Section 4 of the Partnership Act permits Constitution of a firm or partnership between one or more persons.”In this case the partnership deed was executed between an individual and an LLP which is a body corporate having a legal entity and coming within the definition of “person”. The individual liability of the partners of LLP would not be relevant when the LLP itself would have liability independent of the liability of the partners. Therefore, the difference in the provisions under the Partnership Act relating to liability of the firm or the individual partners would not stand in the way of constitution of a partnership with an LLP. Hence I find that LLP cannot have a disqualification from entering into a partnership with an individual or other persons.”, the court observed while directing the registrar to reconsider the request for registration within a period of one month.Case: Jayamma Xavier vs. Registrar of Firms [WP(C).No.25741 OF 2020]Click here to Read/Download JudgmentNext Storylast_img read more

Scoreboard Roundup — 6/4/18

first_img FacebookTwitterLinkedInEmailiStock/Thinkstock(NEW YORK) — Here are the scores from yesterday’s sports events:AMERICAN LEAGUEN-Y Yankees   7  Detroit       4Detroit       4  N-Y Yankees   2L-A Angels    9  Kansas City   6NATIONAL LEAGUESan Diego      11  Atlanta   4San Francisco  10  Arizona   3NATIONAL HOCKEY LEAGUE PLAYOFFSWashington   6  Vegas   2Copyright © 2018, ABC Radio. All rights reserved. Beau Lund Written bycenter_img June 5, 2018 /Sports News – National Scoreboard Roundup — 6/4/18last_img read more

US Coast Guard receives 35th fast response cutter

first_imgBack to overview,Home naval-today US Coast Guard receives 35th fast response cutter US Coast Guard receives 35th fast response cutter View post tag: USCGC Angela McShan August 5, 2019, by View post tag: FRC Bollinger Shipyards delivered the 35th fast response cutter (FRC), Angela McShan, to the US Coast Guard in Key West, Florida, on August 1.The cutter will be the third of three FRCs stationed in Cape May, New Jersey.Angela McShan, the cutter’s namesake, was the first African-American woman to be promoted to master chief petty officer.The FRCs are replacing the 1980s-era 110-foot patrol boats and feature advanced command, control, communications, computers, intelligence, surveillance and reconnaissance equipment.The cutters feature improved habitability and seakeeping, and over-the-horizon cutter boat launch and recovery from astern or via side davits. Each FRC is 154 feet long, has an endurance of at least five days and can reach a maximum speed of over 28 knots.Thirty-three are in service: 12 in Florida; six in Puerto Rico; four in California; three in Hawaii and two each in Alaska, New Jersey, Mississippi and North Carolina. The Coast Guard has ordered 50 FRCs to date. Future FRC homeports include Galveston, Texas; Santa Rita, Guam; Astoria, Oregon; and Kodiak, Seward and Sitka, Alaska. Authorities Share this article View post tag: US Coast Guard View post tag: Bollinger Shipyards navaltodaylast_img read more

NUS anti-Semitism condemned by JSoc

first_imgThe Presidents of the Oxford University Jewish Society have condemned the National Union of Students (NUS) for its “failure to confront anti-Semitism”.The Annual NUS Conference held on 5, 6 and 7 April 2005 ended in the resignation of three Jewish officers.Luciana Berger, Mitch Simmons and Johnny Warren all handed in their resignation after considering the NUS’ failure to act quickly in censoring and banning the anti- Semitic literature that was being distributed at the conference by the General Union of Palestine Students.The NUS has also been accused of ignoring a dossier prepared by the Union of Jewish Students on incidents of anti-Semitism at Sussex University and allowing a motion to strip Berger of her role as NUS Convenor of the Anti-Racism Campaign, while ignoring the statement made in an open forum at the SOAS Union, “I won’t say whether it’s a good or a bad thing to burn down a synagogue, but I can see it’s a rational act.”Gabriel Doctor and Abigail Don sent an email to all members of the society urging students to mandate their JCR Presidents to write letters of condemnation to the NUS.“If you’re concerned by all this, we encourage you to do something about it,” they wrote. “This is not just activism for the sake of it – many of your colleges will be directly affiliated to NUS, and so this affects you, directly.“If your JCR is an NUS-affiliate, you can table a motion in the next meeting, mandating your President to write a letter of condemnation or censure; or if you think it’s worth it, propose a motion of disaffiliation.”Doctor said, “I find it very worrying that an organisation supposed to represent all students, at its own conference pays scant regard to anti-Semitism. Freedom of speech is one thing, blatant and hurful lies another.”John Blake, President of OUSU, said, “It is very sad and upsetting when anyone decides to resign on any grounds of discrimination.” Blake, who was at the NUS Conference, said that there was “a much larger delegation from the Islamic Society”.“In the NUS passions run very highly. The nature of student politics lets people to speak more freely without fear of damaging their careers.”Kat Fletcher, President of the NUS, maintains that the Union has the principles of equality, diversity and democracy at its core, and said that the ssues brought up at the conference would be looked into. Action on this issue will have to wait until next Sunday at the earliest.Triona Gilbin, President of Balliol JCR, said, “We haven’t discussed this at at GM but if I was mandated I would act.”ARCHIVE: 0th week TT 2005last_img read more

Diana Hurt Joins HR Solutions

first_img FacebookTwitterCopy LinkEmailShare STAY CONNECTED: Like us on FacebookFollow us on TwitterView our profile on LinkedIn center_img For more information, visit our Website at:www.hrsolutions-inc.com or call (812) 476-3180 HR Solutions, Inc., 100 N. Saint Joseph Avenue, Evansville, IN 47712last_img

LINK TO GEORGE MESKER MUSIC TRUST LEGAL DOCUMENTS

first_imgAttached below are the legal documents of the George Music Trust legal documents.  Please see question 4 in paragraph 4 on page 3 dated November  2, 1973 entitled Report of Trustee.It looks like the Board Of Trustees improved the ability of the Mesker Trust to enhance Mesker Park Amphitheater.  Its also interesting that the Mesker Park had in the excess of $350,000 valued on a cost basis back in 1973.THIS IS THE LINK TO THE GEORGE MESKER MUSIC TRUSTFOOTNOTE:  There are 13 papers in this exhibit.FacebookTwitterCopy LinkEmailSharelast_img read more