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The appetite for residential property in the mid-income segment is growing, with people looking to move homes in the next 12 months because of the pandemic and subsequent lockdowns. Mumbai and Pune top the charts where people seemed more inclined to move to another city after the pandemic, according to property consultancy Knight Frank. Around 14% from the high-end segment in India indicated a desire for relocation. Outdoor space and the need for greater privacy have pushed homebuyers in the global Indian segment to evaluate second home purchases in India, the UK and the US, followed by Singapore, Dubai and Australia, the Knight Frank Global Buyer Survey said. The survey analysed the impact of Covid-19 on residential buyers attitudes towards purchasing homes. Around 32% of respondents in the mid-income segment in India were looking to buy a home, the report said. Of these, around 87% respondents were looking to move within the city. Around 26% of mainstream Indians had moved their residences within the pandemic period. Another 32% were inclined to move residences in the next 12 months. The report emphasises that the future of work would play a significant part not only for the commercial sector but also for the residential. Shishir Baijal, CMD, Knight Frank India, said the pandemic has changed the outlook towards ownership of homes across different income strata in India. Healthcare and proximity to workplace have started playing an important role. Energy-efficient homes are also gaining traction, Rajani Sinha, chief economist and national director – research, Knight Frank India, said homebuyers While features such as good air quality, proximity to green areas and access to good healthcare have become more important, factors such as being within walking distance to a public transport hub have slid down in the order of ranking for the global Indian segment, Sinha said. Residents of cities like Ahmedabad, Bengaluru, Pune, Hyderabad and Mumbai have rated accessibility to green areas as the most important feature.
Xiaomi launched a slew of new smart home products on Thursday at its annual IoT event, Smarter Living 2022. Theres new fitness band, new laptops and smart TVs, a security camera and router, as well as a new pair of running shoes. More specifically, the list includes Mi Notebook 2021 series, Mi TV 5X series, Mi Band 6, Mi Router 4A Gigabit Edition, Mi 360-degree Home Security Camera 2K Pro and Xiaomi running shoes. Clearly, there are a lot of products to talk about. Lot of details. While weve covered each of these products at length, heres a quick round-up of everything that Xiaomi has launched in India today. Mi Band 6 The Mi Band 6 has a 1.56-inch full-screen colour OLED display. It is all touch-screen. The screen has a resolution of 152 It can monitor your heart rate and sleep quality index in addition to recognising your swimming strokes. The band is 5ATM-certified which makes it swim-proof. It can monitor your blood oxygen level as well. The Mi Band 6 supports 30 professional modes. It can auto detect 6 activities. The fitness band has a 125mAh battery which is rated to deliver up to 14-day battery life on single charge. The Mi Band 6 India price is Rs 3,499. It will be available across Mi.com, Mi Homes, Amazon and retail stores starting August 30. You can read more about the Mi Band 6 here. Mi TV 5X series The Mi TV 5X has aluminum alloy frames and carbon fibre finish on the back. The screen, which is near bezel-less, supports Vivid Picture Engine 2, Xiaomis proprietary display technology for greater accuracy. It also packs Xiaomis Reality Flow Engine which is essentially its version of MEMC. The 4K panel has a resolution of 3840 x 2160 pixel and supports Dolby Vision, HDR10, HDR 10+, and Hybrid Log-Gamma (HLG) standards. The Mi TV 5X also runs Xiaomis new Patchwall 4.0 software which is based on Android 10. It comes with built-in Chromecast and Google Assistant support. It has a 40W speaker setup with Dolby Atmos support. The 43-inch Mi TV 5X has been launched in India at a price of Rs 31,999. The 50-inch model will sell for Rs 41,999. The 55-inch Mi TV 5X will meanwhile set you back by Rs 47,999. It will be available cross Mi.com, Flipkart, Mi Home, Mi Studio and Croma, starting September 7. You can read more about the Mi TV 5X series here. Mi Notebook 2021 series The Mi Notebook 2021 series spawns two models Mi Notebook Ultra and Mi Notebook Pro. Both laptops are milled out of a single block of Series 6 Aluminium. The Mi Notebook Ultra has a 15.6-inch display with a 32002K resolution and 90Hz refresh rate. The Mi Notebook Pro has a smaller 14-inch 2.5K screen. Under the hood, both laptops come with up to Intel Core i7-11370H processor paired with up to 16GB of 3200MHz DDR4 RAM, 512GB of NVMe SSD storage and Intel Iris Xe graphics. The Mi Notebook Ultra starts at Rs 59,999 for a version with Intel Core i5-11300H processor and 8GB RAM. A version with double the RAM will be available for Rs 63,999. The top-end Mi Notebook Ultra with Intel Core i7-11370H processor and 16GB RAM will set you back by Rs 76,999. The Mi Notebook Pro starts at Rs 56,999 for a version with Intel Core i5-11300H processor and 8GB RAM. A version with double the RAM will be available for Rs 59,999. The top-end Mi Notebook Pro with Intel Core i7-11370H processor and 16GB RAM will set you back by Rs 72,999. Both laptops will be available across Mi.com, Mi Homes, Amazon and retail stores starting August 31. You can read more about the Mi Notebook 2021 series here. Mi Router 4A Gigabit Edition The Mi Router 4A is a fibre optic full Gigabit router with an overall bandwidth of up to 1167 Mbps. It has four omni-directional antennas and integrated signal amplifiers. It can be used to connect to 128 smart homes devices simultaneously. The Mi Router 4A Gigabit Edition will be available at a price of Rs 2,199 on Mi.com, Mi Homes, Flipkart and retail stores starting September 15. You can read more about the Mi Router 4A Gigabit Edition here. Mi 360-degree Home Security Camera 2K Pro The Mi 360-degree Home Security Camera 2K Pro can record 2K (2304 x 1296 pixel) resolution video. It also packs 940nm infrared light sensor for low light conditions. Xiaomi has also included a handy physical privacy shield to block the camera when needed. The Mi 360 Home Security camera 2K Pro will be available at a price of Rs 4,499 on Mi.com, Mi Homes, Amazon and retail stores, again, starting September 15. You can read more about the Mi 360-degree Home Security Camera 2K Pro here. Xiaomi running shoes Xiaomis Running Shoes come with a 4D fly woven upper and herringbone locking system. The shoes also come with a Cloud Bomb Popcorn Midsole making them light and flexible and Microban protection against microbes and bacteria causing odour. Xiaomi will offer them in Blue, Gray and Black colourways. The Xiaomi running shoes will be available at a crowdfunding price of Rs 2,699 on Mi.com starting August 26.
Loans against property (LAP) are financing facilities that could be highly useful to meet big-ticket fund requirements like home renovation, hospitalization expenses, child These collateralized loan products are usually available at interest rates lower than personal loans. Most government and private banks and even many NBFCs offer loans against residential or commercial (even industrial plots and godowns, in some cases) property for tenures up to 20 years, subject to applicable terms and conditions of the lender. While many banks lend up to 65% of the mortgaged property Do note, the associated terms and conditions could differ depending on the mortgaged property being a residential or a commercial one. Also, if your property is too old or dilapidated, or it has disputed ownership, you might not be eligible for a loan against property, according to BankBazaar. Lastly, while a loan against property is a securitized loan, your lender would consider your income and credit score among other eligibility requirements while processing your application and would offer you the lowest available interest rate or the best repayment terms only if your score is above 750-800. Most lenders also charge a processing fee that While many lenders do not charge for part-prepayments in loans against property for individual borrowers who have taken the loan for non-business purposes, it So, if youa. for loans up to Rs 15 lakh. We Do note, processing fees or any other charges have not been considered for the EMI calculation. The applicable interest rate and the EMI amount could be different based on your chosen lender, your property 17 Banks Offering Loans against Property Starting at under 10% p.a. (for loans up to Rs 15 lakh) Disclaimer: Interest rates on Loan Against Residential Property (LAP) for all listed (BSE) public and private banks considered for data compilation. Banks for which data is not readily available on their website have not been considered. The data collected from respective banks websites as of 31 Aug 2021. The lowest interest rate offered by the banks offering such loans at starting interest rates lower than 10% p.a. on a loan of up to Rs 15 lakh is shown in the table. The EMI is calculated on the basis of the interest rate mentioned in the table for Rs 15 lakh loan with a tenure of 10 years (processing fee and other charges are assumed to be zero for EMI calculation). The interest rates mentioned in the table are indicative and may vary depending on the banks TC. *HDFC Bank rack interest rate. Data compiled by BankBazaar.com, an online marketplace for loans, credit cards and more.
By Rajesh Palviya Nifty closed at 16705 with a gain of 255 points on a weekly basis. On the weekly chart, the index has formed a Bullish candle with a long lower shadow indicating buying at lower levels. The index is moving in a Higher Top and Higher Bottom formation on the weekly chart indicating a sustained uptrend. The chart pattern suggests that if Nifty crosses and sustains above 16750 level it would witness buying which would lead the index towards 16800-17000 levels. However, if the index breaks below the 16500 level it would witness profit booking which would take the index towards 16300-16200. Nifty is trading above 20 and 50 day SMAs which are important short-term moving averages, indicating positive bias in the short term. Nifty continues to remain in an uptrend in the medium term, so buying on dips continues to be our preferred strategy. For the week, we expect Nifty to trade in the range of 17000-16300 with a positive bias. The weekly strength indicator RSI and momentum oscillator Stochastic have both are in bullish mode and are above their respective reference lines indicating positive bias. India VIX index is at 13.40 v\/s 13.46. Nifty ATM call option IV is currently 9.18 whereas Nifty ATM put option IV is quoting at 12.48. Index options PCR is at 1.40 v\/s 1.23 FO Total PCR is at 0.87. Bank Nifty outlook Bank Nifty started the week on flat note and buying momentum for most part of the week led it to close on a positive note. Bank Nifty closed at 35628 with a gain of 594 points on a weekly basis. On the weekly chart the index has formed a small Bullish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. For the past three months, the index is consolidating within 36300-34000 levels indicating short term sideways trend. Hence any either side breakout will indicate further direction. The chart pattern suggests that if Bank Nifty crosses and sustains above 35800 level it would witness buying which would lead the index towards 36000-36500 levels. However, if index breaks below 35000 level it would witness selling which would take the index towards 34500-34000 levels. Bank Nifty is now well placed above its 50 and 100 SMA indicating positive bias in the short term. Bank Nifty continues to extend its sideways trend for short to medium term, hence any either side breakout will signal further direction. For the week, we expect Bank Nifty to trade in the range of 36300-34500 with a mixed bias. The weekly strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias. Sectors and stocks to watch this week We expect the IT, Capital Goods, Chemicals, FMCG and Cement sectors to do well in the near term. Stocks like Mindtree, Wipro, Tech Mahindra, Bata India, LT, Siemens, ICICI Bank, Bajaj Finance, Reliance Industries Ltd (RIL), Navin Fluorine can do well in near term. (Rajesh Palviya is Vice President The views expressed are the author Please consult your financial advisor before investing.)
The Ministry of Civil Aviation has eased the rules regarding drone operations in the country by reducing the number of forms that need to be filled to operate them from 25 to 5 and the decreasing the types of fees charged from the operator from 72 to 4. The Drone Rules, 2021, were issued on Wednesday. They supersede the Unmanned Aircraft System (UAS) Rules, 2021, which had come into force on March 12 this year. The fee, according to the new rules, has been reduced to nominal levels and de-linked from the size of the drone. For example, the fee for a remote pilot license has been reduced for Rs 3,000 (for a large drone) to Rs 100 for all categories of drones and it is valid for 10 years. The rules have also abolished the requirement of various approvals, including certificate of conformance, certificate of maintenance, import clearance, acceptance of existing drones, operator permit, authorisation of RD organisation and student remote pilot licence. Other approvals such as unique authorisation number, unique prototype identification number and certificate of manufacturing and airworthiness have also been abolished, according to Drone Rules, 2021. No flight permission will be required up to 400 feet in green zones and up to 200 feet in the area between 8 and 12 km from the airport perimeter, the new rules stated. Green zones means the airspace up to a vertical distance of 400 feet that has not been designated as red zone or yellow zone in the airspace map. An interactive airspace map with green, yellow and red zones shall be displayed on the digital sky platform within 30 days of publication of these new rules. The Drone Rules, 2021, have also prescribed easier process for transfer and deregistration of drones. No pilot licence will be required for micro drones (for non-commercial use) and nano drones, the rules mentioned, adding that maximum penalty for violations have been reduced to Rs 1 lakh. According to the new rules, the type certificate and unique identification number will be required only when a drone is to be operated in India. If a drone is being imported or manufactured only for export purposes, it will be exempted from type certification and the requirement of unique identification number. Drone corridors will be developed for cargo deliveries and a drone promotion council will be set up to facilitate drone-friendly regulatory regime in the country, according to the draft rules. The rules also stated that there would be no restriction on drone operations by foreign-owned companies registered in India. Digital sky platform will be developed as a business-friendly single-window online system, the new rules mentioned.
On Friday Taliban is expected to form and announce an inclusive government which will be headed by the group Mullah Abdul Ghani will be responsible for the day to day governance of Afghanistan. Who is Haibatullah Akhundzada? Though he reigns supreme and stays in Kandahar which is the epicenter of the Taliban, he does not command Mullah Omar-like respect from all within the cadres of the Taliban. While he draws his authority over the Taliban from his previous record as a religious leader in the group, following the death of Mullah Mansour, he became amir-ul-muminin or the commander of the faithful in 2016. His name was proposed by Mullah Omar Haibatullah Akhundzada belongs to the Noorzai clan, which is considered to be the most powerful tribe among Pashtuns. When did he join the Taliban? In the 1990s. And his first major government role was in 1995, when the group had captured the Farah province of Afghanistan. Before being elevated as the chief of the military court in the Nangarhar province in the previous Taliban regime, he held a position in the military court of the Taliban in Kandahar. Before the US backed forces overthrew the Taliban from power in 2001, he had risen to the rank of deputy chief within the group And then during the exile after 2001, Hibatullah Akhundzada became the head of their council of religious leaders. Haibatullah Akhundzada was appointed as a deputy in 2015, by the then Taliban chief Mullah Mansour in the group He was officially one of three deputies and Mullah Mansour had named him as his successor in his will. And then he became the Taliban From mid-2017, he gained more respect from and control over the Taliban. This was close on the heels of his 23-year-old son led a Fidayeen attack on an Afghan military base located in the Helmond province in South Afghanistan.
Union Minister Nitin Gadkari on Thursday said the Rs100 lakh crore-Gatishakti scheme will provide a framework for the National Infrastructure Pipeline programme and make Indian products more competitive by cutting down logistic costs and improving supply chains. Addressing the American Chamber of Commerces (AMCHAM) 29th AGM, Gadkari also sought investments in the road sector from insurance and pension funds of the US. Our government is soon going to launch the national master plan of (the) Prime Minister – Gatishakti scheme of more than Rs 100 lakh crore for holistic and integrated infrastructure development in India, he said. The Gatishakti scheme was announced by Prime Minister Narendra Modi during his Independence Day speech on August 15. The initiative is set to be launched this month. The Gatishakti master plan will provide the framework for the NIP programme and is aimed at making Indian products more competitive by cutting down logistic costs and improving supply chains, the road transport and highways minister said. According to the minister, infrastructure development will play an important role in Indias aim to become a USD 5 trillion economy. Indias supply chain infrastructure is getting momentum. The government is investing USD 1.4 trillion in infrastructure development through NIP, he said. Gadkari also said that his ministry through NHAI is planning to raise USD 15 billion through the monetisation of highways in the next five years. Noting that India has got huge economic potential and viability available for pension and insurance funds in Indian road infrastructure, he said, We can offer you good returns, (and) huge potential of economically viable projects. The minister pointed out that India is allowing 100 per cent FDI in the road sector, and there is a huge opportunity for joint ventures. Gadkari also noted that India is also ready to welcome investments in solar energy and green hydrogen. We are looking for prospects of green hydrogen as a potential source of energy. You can invest in technology for green hydrogen, he added. Gadkari said he is working for a more sustainable transport system like ropeways and hyperloops. Investment in mobility technology is welcome. I request you to participate financially on the technological front, he said. The minister also said that India is seeking the use of innovative technology and materials in road construction, and is open to adopting guidelines for use of new materials and technology.
The purchase and Annual Maintenance Contract (AMC) deals for as many as 1,000 low-floor DTC buses has been put on hold by the Delhi Transport Corporation as it wants to take a According to an IE report, on June 12, the work orders related to the contracts were put on hold. DTC, which works under the government of Delhi said the decision was made after a complaint from the Vigilance Department was received. In a written submission to the Delhi Assembly, the Delhi Transport Department stated that due to a complaint received by the Vigilance Department as well as to take a fair view on this issue, the work orders implementation has currently been put on hold till further orders. Last week, a CBI probe was recommended by the Union Ministry of Home Affairs (MHA) into the purchase and AMC deals. Additional Secretary of the ministry (UT) Govind Mohan, on 16 August 2021, had informed the decision of the Centre to Vijay Dev, Delhi Chief Secretary. Besides the submission to the Assembly, the government of Delhi has not made any statement on the decision to put the purchase and AMC deals on hold, which happened four days before Lt Governor Anil Baijal formed a committee in order to review the tendering processes related to them. According to the report, while the contract for purchase was for an amount of Rs 850 crore, the AMC for 12 years was for Rs 3,412 crore. JBM Auto and Tata Motors were awarded the purchase tender on a ratio of 70:30 while the company JBM Auto had also emerged as the L1 bidder in the tendering of AMC. Principal Secretary (vigilance) K R Meena, Principal Secretary (transport) Ashish Kundra, as well as former IAS OP Agarwal were the members of the Lt Governor However, the allegations were denied by the Delhi government, and it called the move of the Union Ministry of Home Affairs as a politically motivated conspiracy against the AAP.
By Archana Surana Fashion has become a buzz word over the years along with sustainable craft practices. As we know India is the land of mixed culture and has roots in craft design philosophy which can be observed in its tradition. India has embraced sustainability from the very beginning and is still practicing. Our Indian Heritage has been the source of inspiration for the generations in the past and future. We have observed that many renowned fashion designers have taken insight from our heritage and given fashionable clothing to the world. Which has changed society Evolution is what? – open your wardrobe and look beyond the clothes you are regularly wearing these days. You will find many clothes which you have just stopped looking at because of evolution in fashion. You may have observed that how much ever the fashion changes you will require an Indian outfit for every occasion which is a part of Indian Culture. And that Although being in the fashion world you need to evolve clothing keeping the essence of tradition alive. Looking at the present need of time and technological advancement to build a digital design future, we need to cater to the necessities of individuals by keeping the story of our heritage alive. Sustainable Fashion and Impact of Technology Sustainable fashion is often synonymous with great design, development, production, and use of textiles, emphasizing interconnectedness. If I simply illustrate, it creates a valuable product for not only the consumer but for the planet. Painting the full picture of sustainable fashion requires taking a hard look at the various socio-economic factors attributing to its rise. As the 21st century unraveled, technological innovations have informed design-led strategies to enhance traceability, shorten the supply chain and completely changed the picture of past fashion. The way fashion has evolved as an industry all over the world can be attributed to the industrial revolution in the nineteenth century; before the world wars, women never thought they would wear trousers. For men too, trends changed from the completely formal wear to casual. Therefore, living standards and geographical locations also affect the trends at a particular place for a period. Observing the changing fashion for so many years, I feel that heritage gives the whole designing industry a new dimension. From Kalamkari to Pashmina, it is our heritage that inspires many innovations. Being experienced in the design industry, I can say, there is a lot to explore in our culture. India has many craft stories woven in the fabric of its tradition and a lot to share to the world. Fashion designers creatively think, and try to bring change. Be it Paul Poiret, Edith Head, Andrew Lever, or Indian designers who are representing craft heritage on a global stage. This needs to translate into the retail industry, not merely as a visual inspiration, but as a process. In my last 23 years in this industry, I have never seen such rapid changes in the traditional systems as the present. The way of shopping has also shifted from offline to online. By the time the latest fashion clothing reaches the nearby stores, everyone has already ordered it from online retailers. Nevertheless, the blend of fashion with proficiency, that we must adapt to; to have heritage meet technology and go on hand in hand. While AI is the biggest threat to our traditional fashion and it can never give the kind of output traditional artisans can give, we must remember that it is here to stay and we must accept and adapt AI to serve. Blending technology and preserving heritage As discussed, not overusing the AI for things that need the personal touch and taking inspiration from our heritage has to be the way. And in future also the best designs will be from the blend of technology and heritage. The role of design colleges and institutes is very crucial in preserving heritage fashion. At modern institutes, traditional designing and heritage fashion is emphasized. Workshops and even the curriculum includes them. Another way of making people love heritage fashion is innovating it without losing the originality and ethnicity of the design; using advanced technology. Social Responsibility Fashion has its own definition for all, and everyone is free to choose ones style. That goes for every section of society. The sustainable development of the practices must be looked at. Over the years, the industry has understood its social responsibility and has been continuously evolving and we must prepare the youth to be the reason for the change. Along with the curriculum, there is a large space for exploration and ideation in the form of relevant tasks.. Creativity is not something you can learn, but here you will learn to maintain it, enhance it and apply it for doing great work. (The author is Founder and Director, ARCH college of Design Business, Jaipur, Rajasthan. @ archedu.org. Views expressed are personal and do not reflect the official position or policy of the Financial Express Online.)
By Diana Mathias and Vaibhav Gandhi Ease of Doing Business for MSMEs: India introduced the LLP Act in 2009 and over a decade since its introduction, Limited Liability Partnerships (LLPs) have steadily gained momentum as an alternate format to the traditional form of partnerships and highly regulated form of a company. LLPs have offered the much-required flexibility for entrepreneurs to conduct their businesses along with the protection in the form of limited liability. However, many startups and entrepreneurs were shying away from the LLP format on account of lack of enough incentives for startups, flexibility in issuance of instruments like debentures, and criminalisation of many procedural lapses like delay in appointment of designated partner, maintenance of registered office, etc. Thus, in a move to facilitate ease of doing business and encourage more entrepreneurs, the government has introduced the Limited Liability Partnership (Amendment) Bill, 2021. Dealing of offences under the Act Defaults in the current LLP Act are Fine is the amount of money that a court can order to pay for an offence after the conviction of an accused in a process of the criminal trial. Whereas penalty is the punishment imposed by the appropriate authority for failing to comply with provisions of law where no harm to public interest is caused or no criminality is intended. Based on the recommendation of the CLC in January 2021, the Bill thus seeks to decriminalise various offences under the Act and has thus changed the provisions from Further, an adjudication mechanism has been introduced for adjudication of penalties under the Act for offences that are not of criminal nature. Recently, the Union Cabinet also approved decriminalisation of 12 offences under the Act relating to default of procedural compliances like responsibilities of designated partners to file document, return, etc. or appointment of designated partner on vacancy, maintenance of registered office, filing of annual return, etc. Apart, from the above compoundable offences are reduced to seven offences dealing with the maintenance of books and accounts, default under providing information to registrar or production of information, etc., and non-compoundable offences to three which deal with fraud, intent to deceive, or injury to the public interest. However, if an LLP or its partners carry out an activity to defraud their creditors, or for any other fraudulent purpose, the Bill increases the maximum term of imprisonment from two years to five years for every person party to it knowingly. The Bill also proposes to establish a Special Court under the Act for speedy trials of offences committed under the Act. Subscribe to Financial Express SME newsletter now: Small LLPs shall be LLPs having contribution not exceeding Rs 25 lacs which can be extended to Rs 5 Crores and turnover not exceeding Rs 40 lacs which can be extended to Rs 50 crores. While the definition of a start-up LLPs is yet to be notified by the Government the move is being seen as a boost to the start-up ecosystem whereby start-ups who do not intend to register as companies now have an alternative operating structure. To incentivise small and startup LLPs, the Bill seeks to limit the penalty levied on the Act for any non-compliances under the act to only one-half of the amount of penalty prescribed subject to thresholds. However, unless tax sops are introduced for small and Debentures These debentures shall have a charge on the assets of the LLP and can be raised from entities regulated by SEBI or RBI. This move will definitely attract institutional funding to LLPs which were resistant in providing funds as there were no laws in LLPs that would provide a secured instrument. Thus, all LLPs who intend to enter into any MA activity with a company in the future would necessarily have to first convert themselves into a company first and then proceed to amalgamate with another company. This could result in increased timelines and may also derail MA opportunities. Resident partner Currently, it is mandatory to have one designated partner resident in India which means a person who has stayed in India for a period of not less than 182 days during the immediately preceding one year. With Foreign Direct Investment permitted in LLPs for sectors in automatic route, this requirement proved a dampener for foreign investors intending to set base in India. The amendment now seeks to reduce the number of days to 120 days during the financial year. This may provide some relief for the foreign investors who had difficulty in maintaining one designated partner resident in India. Accounting \/ Auditing Standards Conclusion The objective of the Bill is to promote the idea of LLP as a body corporate to enable professional expertise and entrepreneurial initiative in a flexible, innovative, and efficient manner. The Bill comprises of long-awaited changes required to facilitate greater ease of doing business for corporates and stakeholders in the industry and particularly decriminalization of offences shall incentivize compliance and promote congenial business climate. Diana Mathias A. Shah Associates LLP. Views expressed are the authors own.