Sunday, November 22, 2015

N.V. Srinivasan elected IACC President (SR)

Mr. N.V. Srinivasan, Managing Partner of NVS & Associates, Advocates & Legal Consultants, has been elected Regional President (South) of the Indo American Chamber of Commerce (IACC) for 2015-16.

Having incorporated transformational changes as a former Director, Employee Relations at ANZ Grindlays Bank, Mr. Srinivasan currently runs a legal and management consulting company with branches in various parts of India.

Recently, he has revised the premier banking book Tannan’s Banking Law & Practice in India, 25th edition 2014, published by Lexis Nexis.

Mr. Srinivasan has provided effective resolutions for critical issues of law for domestic and international clients and believes in offering holistic legal solutions aligned with their business strategies. He is also a strong believer of ADR and possesses extensive experience in the same, successfully resolving several disputes through arbitration, mediation and negotiation. He has vast exposure in commercial laws, conveyancing, company laws, commercial arbitration, banking and finance, transfer of Property Act, intellectual property rights, Cyber Laws and organizational restructuring, employee management and many other areas.

As a successful consultant and practicing lawyer in India, Mr. Srinivasan has over 40 years of domestic and international experience and has incorporated revolutionary methodologies for effective business solutions across industries. His experience over three decades in the banking industry has marked him as a well informed and competent lawyer involving commercial trade and finance and he has been on the Board of the Negotiating Committee and Personnel Committee of Indian Bank Association, an apex body of the banking industry in India. His specialty is in providing advice in the context of corporate governance, mergers and acquisitions, joint ventures, takeovers, factoring, derivatives & foreign exchange and structuring of deals. 

This year IACC is embarking on its plan to reach $500 billion as a target in respect of trade between India and the US, from the current level of $123 billion for the current financial year. It is specifically concentrating on the aviation sector, IT, infrastructure, medical tourism and pharma. It has already organized participative seminars in New Delhi and Mumbai, and the latest seminar to come through is on January 29 and April 30, 2016 in Chennai. 

Palani G. Periasamy takes over as SICCI President

Dr. Palani G. Periasamy, Chairman, PGP Group, was unanimously elected President of the Southern India Chamber of Commerce & Industry (SICCI) for 2015-16 at its AGM held recently. Mr. M. Rafeeque Ahmed, Chairman, Farida Group, and Mr. R. Ganapathi, Chairman, Trigyn Technologies, were elected Vice-Presidents.

Dr. Periasamy heads the PGP Group which has diversified interests in hospitality, sugar and finance. A well-known industrialist and educationalist, he is the Chairman of Hotel Le Royal Meridien, Chennai. 

Wednesday, November 18, 2015

V Chennai Warriors tennis league launched

Champions Tennis League (CTL) is the only International Tennis League in India which is owned and operated by Second Serve Private Ltd. lead by Padmashree Vijay Amritraj, whose brain child is this wonderful private league. With support from the All India Tennis Association, this venture aims to promote a passion for tennis and inculcate a love for the sport with a promise of taking Tennis in India to new heights.

Chennai has been a sporting destination for most of the major sports played globally. Tennis, like any other game, has its own connections with Chennai - From being the first tennis city of this country, to being recognized as the only Indian city to host an ATP world series annually. With such remarkable history being associated with this city, a team from Chennai was sure to be a part of this International league happening in this country. V Chennai Warriors was formed when a 6th team was to be included for the second season of Champions Tennis League.

A launch function in this connection was organised recently in Chennai in which Mr. Vijay Amritraj (Chair Person, Second Serve Private Ltd.), Dr. Ishari K. Ganesh (Founder - Chancellor Vel's University and Vel's Group of Institutions), Mr. PrabhuDeva (Actor, Producer/Director), and Mr. M.A. Alagappan, President, Tamil Nadu Tennis Association, and many other eminent members of the society were participated. 

India, a global rise point: Mr. Ahmed A.R. Buhari, President, United Economic Forum

UEF Trade Summit 2015, the first-ever two day trade summit organized by United Economic Forum (UEF) in Chennai was inaugurated by Mr. Mufti Mohammed Sayeed, Chief Minister of Jammu & Kashmir on November 14 in the presence of Dr. Haseeb Drabu, J&K Finance Minister. This Trade Summit was one of the biggest events in Chennai where 700 delegates across the world are participating and 80 leading brands are exhibiting their products in the expo, part of the Summit.

Some of the key focus areas at the Trade Summit are Tamil Nadu Vision 2023 and ‘Make-in-India’ campaign. Through the Trade Summit, United Economic Forum aims to drive industrial development, employment creation, increase business opportunities and encourage entrepreneurship among the minority community in Tamil Nadu and India. The Trade Summit provided an opportunity to network with various leaders from across India and abroad.

Mr. Gholamreza Ansari, Ambassador of Islamic Republic of Iran, Mr. Zainul Abideen Rasheed, former Senior Minister of Singapore, Mr. Nawab Mohamed Abdul Ali, Prince of Arcot, were some of the key participants of the Trade Summit and addressed the audience on the topics “Economic Contribution that can be made by the minority community for taking forward Honourable Chief Minister Jayalalithaa’s Vision 2023 for a developed Tamil Nadu”, “Honourable PM Modi’s 'Make-in-India' opportunities in industries, agro processing, healthcare, empowering MSMEs through various Government schemes, etc. 

Mr. Gholamreza Ansari said on the occasion, Iran and India has been maintaining a long association and emerged a natural business partners particularly in the field of oil and natural gas, minerals, food & beverages, etc. Iran has also become a best connectivity in many ways. Since India is very strong in the areas like science & education, Iran can benefit a lot in this collaboration. 

Mr. Zainul Abideen Rasheed complimented Mr. Ahmed A.R. Buhari, President, United Economic Forum, under his able guidance, the Trade Summit was organised. 

In his special address, Mr. Nawab Mohamed Abdul Ali, Prince of Arcot, said ever since Mr. Ahmed Buhari took over as the President of UEF in 2011, there has been a lot of awareness activities taking place for the Muslim community. 

Mr. Ahmed Buhari said: “It is our pleasure to organize the first ever UEF Trade Summit 2015. For over 3 decades, United Economic Forum has been working towards improve the socio-economic status of the minority community in India. Through the Trade summit, we are aiming to facilitate Rs. 10,000 crores of economic enhancement for our members by 2020 through opportunities enabled by Make in India, Tamil Nadu Vision 2023, supported by Sovereign Wealth Funds, Islamic funding, private equity, Government schemes, bank finance, etc.”

He also said India is currently a global rise point and it has become the fastest growing nation in the ASEAN region. 

Leading industrialist and businessmen including Dr. Habil Khorakiwala, Chairman, Wockhardt Group, Mr. Irfan Razack, CMD, Prestige Group, Mr. Mecca Rafeeque Ahmed, Chairman, Farida Group, Dr. Mohamed Rela, a leading & prominent surgeon, Dr. Shenaz Z. Khaleeli, Co-Founder of Pharma Leaf, Mr. Ahmed A.R. Buhari, Founder President and CEO of Coal and Oil Group, Mr. Bazmi R. Husain, Managing Director, ABB India Ltd., Mr. Mohammed A. Afzal, Chairman & Managing Director, Parveen Travels (P) Ltd., Mr. W.S. Habib, Managing Director, RWD, Mr. Hanif Sattar, Director, Hasbro Clothing Pvt. Ltd., and senior officials from State and Central Government participated in the Trade Summit as well.

At the expo and trade fair which is part of Trade Summit, more than 80 leading brands of exhibitors are expected to participate for showcasing their products and services which range from builders, developers, travel, tourism, logistics, automobile, hospital, leather, educational institutions, energy, food processing, marine food, banking, investment bankers, pharmaceuticals, textiles, jewellers, etc.

Thursday, November 12, 2015

UEF to host Trade summit on 14th and 15th November in Chennai

The United Economic Forum (UEF) is a non profit organisation established in the year 1979 to improve the socio-economic status of Backward Communities in India. UEF was founded by Alhaj Dr. B.S. Abdur Rahman leading Philanthropist, Educationist and Industrialist with the active support of eminent personalities and intellectuals to uplift the Backward Communities through educational support, entrepreneurship, business opportunities, etc.

Mr. Mufti Mohammed Sayeed, Hon’ble Chief Minister of Jammu & Kashmir

Objectives of UEF
To uplift the backward community economically and socially.
To give top priority for educational enhancement of backward people.
To support the under privileged Children and bloom them to be responsible citizens.
To empower the budding entrepreneurs and encourage entrepreneurship among the economically backward.
To facilitate financial assistance for economic development of backward / marginalised communities.

Management & Background of President:
Today, the United Economic Forum is led by Ahmed A.R. Buhari, son of Alhaj Dr. B.S. Abdur Rahman Sahib, the founding father. Mr. Ahmed A.R. Buhari has done Master’s degree in Shipping, Trading and Finance from City University of Business School, London, besides a Degree in Marketing and Finance from Bentley College, Boston, U.S.A. 

Mr. Ahmed A.R. Buhari is the Founder President and CEO of C&O, (Coal and Oil) Group, the second largest importer of coal in India and as a forward integration to his existing business, he has set up a 1200 MW Integrated Power Plant with a capital outlay of approx. US $ 1.3 Bn (Rs.8,000 Crores), and going for expansion by another 1600 MW investing another US$ 2 Bn, (Rs.13,200 Crores).  His group is perhaps among the largest promoters of an IPP within the minority community in India.  

Our President Mr. Ahmed A.R. Buhari is also a stake holder in the development of Madurai Tuticorin Industrial Corridor sponsored by Govt. of Tamil Nadu.  He has also plans to promote state of art industrial parks with all the required infrastructure facilities in technical consultancy with foreign companies along the Madurai-Tuticorin industrial corridor as per the vision 2023 plans of Govt. of Tamil Nadu.

Under the leadership of Ahmed A.R. Buhari, United Economic Forum strives to become a premier organisation that serves the needs of the minority community and backward communities at large. It aims to help its members make a mark in their chosen fields and impact the economic, industrial, educational and social developments of the country.  He is supported by a committee of eminent personalities comprising of Professionals, Doctors, Leading Businessmen and Industrialists and others.  The day to day management and policy matters are taken care of by the committee.

Educational upliftment of deprived, under privileged and destitute children:
The forum has four children’s homes in Sakkarakottai (Ramnad), Ottapidaram (Tuticorin), Thanjavur, and an exclusive home for girls in Thiruvithancode (Kanyakumari) in Tamil Nadu through UEF Charitable Trust for underprivileged and needy children. In addition to this, UEF also has a scholarship initiative, under which scholarships are awarded to poor and under privileged children to pursue professional courses. Candidates are awarded scholarships each year since 1997.

Entrepreneurship Development
UEF seeks to act as a Catalyst for economic development through entrepreneurial training, facilitating finance from banks and financial institutions, channelling government grants and subsidy and prepare project reports for viable projects for availing financial assistance.    

Strategy for Entrepreneurship Development:
For entrepreneurship development the forum aspires to play an important role in identifying young entrepreneurs, motivating them and help start new ventures that make use of financial and technical resources provided by the Government as well as the private sector.  
 To serve as a premium forum for  enabling  the  backward / minority community to become a formidable force through economic enhancement , education and social development. 

Facilitate  about Rs.1000 crores of Economic Enhancement for members through Business Activities, Shariah Funding, Sovereign Wealth Funds, Private Equity, Govt. Schemes, Banks Finance, etc.
Become a catalyst for Economic and Social growth within the Backward / Minority Community.
Provide Entrepreneurial training and act as a mentor to support the budding entrepreneurs.
Bring together likeminded Businessmen, Technocrats, Academicians, Professionals and NGOs to work for the common welfare of the Backward / Minority Community.

Chamber of Commerce:
The United Economic Forum plans to re-launch as a Chamber of Commerce and Industry, inspired by the likes of CII, FICCI and SICCI. Our activities are similar to that of Dalit Indian chamber of commerce  and industry (DICCI).

UEF Trade Summit 2015:
Given this backdrop we are planning a UEF Trade Summit on Nov 14th - 15th at Hotel ITC Grand Chola in Chennai along the lines of World Islamic Economic Forum (WIEF) of Malaysia, an international organization having similar objectives as that of ours. 

Mr. Mufti Mohammed Sayeed, Hon’ble Chief Minister of Jammu & Kashmir has kindly consented to be the Chief Guest and inaugurate the summit.  Mr. Haseeb Drabu, the Finance Minister of J&K and the economic advisor to former PM Mr. Manmohan Singh has also promised to participate and speak at the seminar along with other dignitaries.

This summit is expected to be a Mega Event for UEF which has a Seminar and a grand Expo, where over 600 delegates, Prominent Speakers and Exhibitors are expected to participate from India and abroad.

Wednesday, November 11, 2015

Dongfeng Group’s range of products

Dongfeng Mid-South Enterprise Co. Ltd., as one of the subsidiary company of Dongfeng Group, is dedicated to exporting commercial vehicles, passenger vehicles, auto components, construction & agricultural machinery equipment. Dominant products have won widespread acceptance in South-East Asia, Africa, the Middle East, South America, Eastern Europe and other regions. Certificated by GCC, CCC to demonstrate the commitment to continuously improving product quality and customer satisfaction, as well as integrating the realities of a changing world. 

The company’s main products listed are given below:

1. Construction machinery euipments: Concrete mixing plant, concrete mixer, accessory equipment for concrete mixer, concrete delivery equipment excavator, road roller, wheel loader, crane, forklift, pling & drilling machinery, etc.

2. Special-purpose vehicle series: Concrete mixer trucks, suction sewage trucks, sweeper trucks, fuel tanker, water tanker, refrigerated trucks, high platform truck, garbage trucks, fire fighting trucks, truck crane and so on.

3. Dump truck series: 6×4, 8×4 – heavy duty tipper Dongfeng T-Lift with loading capacity 20 to 55 ton, 6×4, 4×2 – medium duty tipper Donfeng Kingrun with loading capacity 15 to 40 ton, 4×2 – light duty tipper truck Dongfeng Rituo with loading capacity 3 to 14 ton.

4. Tractor series: 4×2, 6×4 Dongfeng Kinland tractor head special suit for middle and long distance transport.

5. Cargo truck series: New generation heavy duty, medium duty truck, light trucks and mini truck with loading capacity 1 to 30 ton.

6. Mini truck series: 4×2, Dongfeng mini truck with loading capacity 0.5 to 2.5 ton, single / double row.

7. Passenger vehicles: City bus (15~60 seats), coach bus, school bus, mini van (7~15 seats), car and so on.

8. Agricultural machineries: Wheel and crawler farm tractor from 11 hp to 220 hp, planter, harvest machinery and farm implement and so on.

9. Auto spare parts: Lubricant, engine, tire, etc.

For more information, visit: 

Builders come up with unique solutions to keep buyers debt-free

While obtaining home loans has become easier, the loan amount – along with the equated monthly installment (EMI) thereon – is quite high due to high apartment prices, making home buying a challenging task for most people. Add to this, the already depressed business conditions where job security is uncertain. In such a scenario, builders are offering various payment options for under-construction and ready possession flats.

A builder in Delhi has announced a ‘no pre-EMI’ clause till possession of the property. Customers are asked to pay 10 per cent as the booking amount, followed by 80 per cent of the amount within 45 days from bank funding. The remaining 10 per cent can be paid on possession. In effect, all the EMIs on the housing loan taken by the buyer are paid for by the builder and the buyer starts paying EMIs only after possession.

Earlier this year, for its upcoming commercial project, another leading builder from Chennai had provided an option whereby consumers paid 40 per cent in three months and take possession, while the balance was to be paid in 15 months. This move pushed sales of commercial premises substantially. Yet another case of a builder coming up with an innovative solution for offloading excessive inventory is that of Royal Palms India which is selling apartments in a 240 acre complex at Goregaon East.

“Palms Residences” are being offered to buyers on a ready possession basis in such a manner that the buyers don’t have to take a home loan for the property. Buyers can immediately move in by paying a small percentage of the total cost and the balance can be paid over a period of time just the way it is in housing loan installments. So, instead of paying EMIs on home loans, the buyer pays the EMI to the builder, without the interest burden.

Palms Residences project comprises of over 400 flats of 1BHK, 2BHK and 3BHK sizes. These are ready possession, fully furnished, with occupation certificate, clear title, up market A Grade construction and to book these one just has to pay 30% down payment and the balance in 36 interest-free monthly installments. The company – which is a pioneer in affordable housing – has kept prices at almost 40% below the average market price in Goregaon East. Located within 10 minutes of drive from Powai, Western Express highway and Marol, ‘Palms Residences’ thus offers apartment with modern conveniences of easy loans especially to the families working on the EMI formula.

Said Dilawar Nensey, Jt. Managing Director, Royal Palms Estates P. Ltd.: “Since the realty market is down we thought of working out a way for people to be able to buy their permanent dream home as also offload our inventory. We are a zero debt company and would prefer to pass on price benefits to our customers rather than pay heavy interest burden on term loans. Royal Palms philosophy remains focus on product quality at competitive prices.”

The company has priced apartments at Palms Residences very reasonably at Rs. 75 lakhs for a 1BHK, Rs. 1.13 crores for a 2BHK and at Rs. 1.50 crores for a 3BHK. To give an example, on purchase of a 2 BHK flat, the buyer would pay Rs. 33.90 lakhs upfront and take immediate possession of the property and pay the balance amount by way of monthly installments of Rs. 2.19 lakhs. The approx. savings in interest outgo – when compared to buying the same property through a home loan – comes to a whopping Rs. 1.04 crores.

For most Mumbaikars buying a home is a once-in-a-lifetime task but due to lack of budget or the high prices of properties coupled with heavy EMIs it becomes a nightmare at times. The offer of Palms Residences is rare solution and opportunity, which would benefit both the parties and present a win-win situation for all of them. Above all, the buyer is safe from falling into a debt trap of paying the principal home loan and interest for years and years.

For details, visit: