Credit Rating_9

Is rating a one time exercise?

No. To protect the interest of investors, SEBI has mandated that every credit rating agency shall, during the lifetime of the securities rated by it, continuously monitor the rating of such securities and carry out periodic reviews of all published ratings and disclose the revised ratings.

credit rating_8

Who regulates rating agencies?

In India, credit rating agencies are regulated by SEBI. The SEBI (Credit Rating Agencies) Regulations, 1999 govern the credit rating agencies and provide for eligibility criteria for their registration, monitoring and review of ratings, requirements for a proper rating process, avoidance of conflict of interest, code of conduct and inspection of rating agencies by SEBI, among other things.

There is power of life and death in the tongue. Choose your words wisely.

A group of frogs were traveling through the woods, and two of them fell into a deep pit. When the other frogs saw how deep the pit was, they told the two frogs that they were as good as dead. The two frogs ignored the comments and tried to jump up out of the pit with all their might. The other frogs kept telling them to stop, that they were as good as dead.

Finally, one of the frogs took heed to what the other frogs were saying and gave up. He fell down and died. The other frog continued to jump as hard as he could. Once again, the crowd of frogs yelled at him to stop the pain and just die. He jumped even harder and finally made it out.

When he got out, the other frogs said, “Did you not hear us?” The frog explained to them that he was deaf.
He thought they were encouraging him the entire time!

This story teaches two lessons:
There is power of life and death in the tongue. An encouraging word to someone who is down can lift them up and help them make it through the day.
A destructive word to someone who is down can be what it takes to kill them.
Be careful of what you say. Speak life to those who cross your path. The power of words… it is sometimes hard to understand that an encouraging word can go such a long way. Anyone can speak words that tend to rob another of the spirit to continue in difficult times. Special is the individual who will take the time to encourage another.

Conversation between GOD and ME

God : Hello. Did you call me?

Me: Called you? No.. who is this?

God : This is GOD. I heard your prayers. So I thought I will chat.

Me: I do pray. Just makes me feel good. I am actually busy now. I am in the midst of something.

God : What are you busy at? Ants are busy too.

Me: Don't know. But I cant find free time. Life has become hectic. It's rush hour all the time.

God : Sure. Activity gets you busy. But productivity gets you results. Activity consumes time. Productivity frees it.

Me: I understand. But I still can't figure out. By the way, I was not expecting YOU to buzz me on instant messaging chat.

God : Well I wanted to resolve your! fight for time, by giving you some clarity. In this net era, I wanted to reach you through the medium you are comfortable with.

Me: Tell me, why has life become complicated now?

God : Stop analyzing life. Just live it. Analysis is what makes it complicated.

Me: why are we then constantly unhappy?

God : Your today is the tomorrow that you worried about yesterday.You are worrying because you are analyzing. Worrying has become your habit. That's why you are not happy.

Me: But how can we not worry when there is so much uncertainty?

God : Uncertainty is inevitable, but worrying is optional.

Me: But then, there is so much pain due to uncertainty. .

God : Pain is inevitable able, but suffering is optional.

Me: If suffering is optional, why do good people always suffer?

God : Diamond cannot be polished without friction. Gold cannot be purified without fire. Good people go through trials, but don't suffer. With that experience their life become better not bitter.

Me: You mean to say such experience is useful?

God : Yes. In every terms, Experience is a hard teacher. She gives the test first and the lessons afterwards.

Me: But still, why should we go through such tests? Why cant we be free from problems?

God : Problems are Purposeful Roadblocks Offering Beneficial Lessons (to) Enhance Mental Strength. Inner strength comes from struggle and endurance, not when you! are free fromproblems.

Me: Frankly in the midst of so many problems, we don't know where we are heading..

God : If you look outside you will not know where you are heading.Look inside. Looking outside, you dream. Looking inside, you awaken. Eyes provide sight. Heart provides insight.

Me: Sometimes not succeeding fast seems to hurt more than moving in the right direction. What should I do?

God : Success is a measure as decided by others. Satisfaction is a measure as decided by you. Knowing the road ahead is more satisfying than knowing you rode ahead. You work with the compass. Let others work with the clock.

Me: In tough times, how do you stay motivated?

God : Always look at how far you have come rather than how far you have to go. Always count your blessing, not what you are missing.

Me: What surprises you about people?

God : when they suffer they ask, "why me?" When they prosper, they never ask "Why me" Everyone wishes to have truth on their side, but few want to be on the side of the truth.

Me: Sometimes I ask, who am I, why am I here. I cant get the answer.

God : Seek not to find who you are, but to determine who you want to be. Stop looking for a purpose as to why you are here. Create it. Life is not a process of discovery but a process of creation.

Me: How can I get the best out of life?

God : Face your past without regret. Handle your present with confidence. Prepare for the future without fear.

Me: One last question. Sometimes I feel my prayers are not answered.

God : There are no unanswered prayers. At times the answer is NO.

Me: Thank you for this wonderful chat.

God : Well. Keep the faith and drop the fear. Don't believe your doubts and doubt your beliefs. Life is a mystery to solve not a problem to resolve. Trust me. Life is wonderful if you know how to live. "Life is not measured by the number of breaths we take but by the moments that took our breath away!

The Heaven and the Hell

A man, his horse and his dog were traveling down a road. When they were passing by a gigantic tree, a bolt of lightning struck and they all fell dead on the spot.
But the man did not realize that he had already left this world, so he went on walking with his two animals; sometimes the dead take time to understand their new condition…

The journey was very long, uphill, the sun was strong and they were covered in sweat and very thirsty. They were desperately in need of water. At a bend in the road they spotted a magnificent gateway, all in marble, which led to a square paved with blocks of gold and with a fountain in the center that spouted forth crystalline water.
The traveler went up to the man guarding the gate.
“Good morning. What is this beautiful place?”
“This is heaven.”
“How good to have reached heaven, we’re ever so thirsty.”
“You can come in and drink all you want.”
“My horse and my dog are thirsty too.”
“So sorry, but animals aren’t allowed in here.”
The man was very disappointed because his thirst was great, but he could not drink alone; he thanked the man and went on his way. After traveling a lot, they arrived exhausted at a farm whose entrance was marked with an old doorway that opened onto a tree-lined dirt road.

A man was lying down in the shadow of one of the trees, his head covered with a hat, perhaps asleep.
“Good morning,” said the traveler. “We are very thirsty – me, my horse and my dog.”
“There is a spring over in those stones,” said the man, pointing to the spot. “Drink as much as you like.”
The man, the horse and the dog went to the spring and quenched their thirst. Then the traveler went back to thank the man.

“By the way, what’s this place called?”
“Heaven.”
“Heaven? But the guard at the marble gate back there said that was heaven!”
“That’s not heaven, that’s hell.”
The traveler was puzzled.
“You’ve got to stop this! All this false information must cause enormous confusion!”

The man smiled:
“Not at all. As a matter of fact they do us a great favor. Because over there stay all those who are even capable of abandoning their best friends…”

credit rating_7

What are investment and speculative grade ratings?

An investment grade rating signifies the rating agency’s belief that the rated instrument is likely to meet its payment obligations. The debt instruments rated 'BBB' and above are classified as investment grade ratings. Instruments that are rated ‘BB‘ and below are classified as speculative grade category ratings in which case the ability to meet the payment obligations is considered to be “speculative”. Instruments rated in the speculative grade are considered to carry materially higher risk and a higher probability of default compared to instruments rated in the investment grade.

credit rating_7

What do the “+” and “-”sign indicate in a rating?

Plus and minus symbols are used to indicate finer distinctions within a rating category. The minus symbol associated with ratings has no negative connotations. In fact, ratings in a higher rating category such as ‘AA-‘ are stronger than ratings in a lower rating category such as ‘A+‘.

credit rating_5

Are rating symbols the same across all types of debt instruments?


No. Rating symbols may vary depending on the type of debt instrument, as for example long term or short term.

credit rating_4

What do the various rating symbols mean?


Each rating symbol is an alphanumeric representation of the degree of repayment risk associated with debt instruments.

credit rating_3

How is credit rating done?

Ratings are based on a comprehensive evaluation of the strengths and weaknesses of the company along with an in-depth study of the industry as well as macro-economic, regulatory and political environment.

credit rating_2

Is a credit rating in the nature of a recommendation?

No, a credit rating is not a recommendation to buy, sell or hold a debt instrument. It is a comment only on the credit risk in an instrument. Rating only provides an additional input to the investor and the investor is required to make his own independent and objective analysis before arriving at an investment decision.

credit rating_1

What is credit rating?


A credit rating is an opinion regarding timely payment of interest and principal on a debt instrument. A simple alphanumeric symbol is normally used to convey a credit rating.

Poison versus Love

A long time ago in China , a girl named Li-Li got married & went to live with her husband and mother-in-law. In a very short time, Li-Li found that she couldn't get along with her mother-in-law at all. Their personalities were very different, and Li-Li was angered by many of her mother-in-law's habits. In addition, she criticized Li-Li constantly.

Days passed, and weeks passed. Li-Li and her mother-in-law never stopped arguing and fighting. But what made the situation even worse was that, according to ancient Chinese tradition, Li-Li had to bow to her mother-in-law and obey her every wish. All the anger and unhappiness in the house was causing Li-Li's poor husband great distress.

Finally, Li-Li could not stand her mother-in-law's bad temper and dictatorship any longer, and she decided to do something about it! Li-Li went to see her father's good friend, Mr. Huang, who sold herbs. She told him the situation and asked if he would give her some poison so that she could solve the problem once and for all.

Mr. Huang thought for awhile, and finally said, 'Li-Li, I will help you solve your problem, but you must listen to me and obey what I tell you.'

Li-Li said, 'Yes, Mr. Huang, I will do whatever you tell me to do 'Mr. Huang went into the back room, and returned in a few minutes with a package of herbs. He told Li-Li, 'You can't use a quick-acting poison to get rid of your mother-in-law, because that would cause people to become suspicious Therefore, I have given you a number of herbs that will slowly build up poison in her body.

Every other day prepare some delicious meal and put a little of these herbs in her serving. Now, in order to make sure that nobody suspects you, when she dies, you must be very careful to act very friendly towards her. 'Don't argue with her, obey her every wish, and treat her like a queen.' Li-Li was so happy. She thanked Mr. Huang and hurried home to start her plot of murdering her mother-in-law. Weeks went by, and months went by, and every other day, Li-Li served the specially treated food to her mother-in-law. She remembered what Mr. Huang had said about avoiding suspicion, so she controlled her temper! , obeyed her mother-in-law, and treated her like her own mother.

After six months had passed, the whole household had changed.. Li-Li had practiced controlling her temper so much that she found that she almost never got mad or upset. She hadn't had an argument with her mother-in-law in six months because she now seemed much kinder and easier to get along with.

The mother-in-law's attitude toward Li-Li changed, and she began to love Li-Li like her own daughter. She kept telling friends and relatives that Li-Li was the best daughter-in-law one could ever find. Li-Li and her mother-in-law were now treating each other like a real mother and daughter. Li-Li's husband was very happy to see what was happening. One day, Li-Li came to see Mr. Huang and asked for his help again She said, 'Dear Mr. Huang, please help me to keep the poison from killing my mother-in-law. She's changed into such a nice woman, and I love her like my own mother. I do not want her to die because of the poison I gave her.'

Mr. Huang smiled and nodded his head. 'Li-Li, there's nothing to worry about. I never gave you any poison. The herbs I gave you were vitamins to improve her health. The only poison was in your mind and your attitude toward her, but that has been all washed away by the love which you gave to her.'

HAVE YOU REALIZED that how you treat others is exactly how they will treat you? There is a wise Chinese saying: 'The person who loves others will also be loved in return.' God might be trying to work in another person's life through you.

'A candle loses nothing if it is used to light another one'.

Holding Hands

Little girl and her father were crossing a bridge.

The father was kind of scared so he asked his little daughter,
'Sweetheart, please hold my hand so that you don't fall into the river.'

The little girl said, 'No, Dad. You hold my hand.'

'What's the difference?' Asked the puzzled father.

'There's a big difference,' replied the little girl.

'If I hold your hand and something happens to me, chances are that I may let your hand go. But if you hold my hand, I know for sure that no matter what happens, you will never let my hand go.'

In any relationship, the essence of trust is not in its bind, but in its bond.

So hold the hand of the person who loves you rather than expecting them to hold yours...

Companies Act_Practical Problems_94

A Company wants to provide financial assistance to its employees to enable them to subscribe for fully paid shares of the company. Does it amount to purchase of its own shares. If, in the instant case, the company itself purchasing to redeem its preference shares, does it amount to acquisition of its own shares?

Limited Liability Partnership_17

For what period a name can be reserved by Registrar?


The name can be reserved by ROC on approval of Form 1, for a period of 3 months from the date of intimation by the Registrar. However, Foreign LLP/Companies have an option to reserve their existing names, under which they are operating outside India, for a period of 3 years in India, which can be further renewed on application to Registrar in Form 25.

Limited Liability Partnership_16

What are the broad provisions of the Act in respect of names of LLPs?

Every limited liability partnership shall have either the words “limited liability partnership” or the acronym “LLP” as the last words of its name. LLPs would not be given names, which, in the opinion of the Central Government, are undesirable. Registrar would be under obligation to follow such rules, which would be framed by the Central Government in connection with allotting names to LLPs. There are also provisions in respect of ‘rectification of name’ in case two LLPs have been registered with the same name, inadvertently.

Limited Liability Partnership_15

Whether foreigners can incorporate LLP?

Yes, the LLP Act 2008 allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India. However, the LLP/Partners would have to comply with all relevant Foreign Exchange Laws/ Rules/ Regulations/ Guidelines.

Limited Liability Partnership_14

How the mutual rights and duties of partners inter-se and those of partners and LLPs would be governed?

The mutual rights and duties of partners inter se and those of the LLP and its partners shall be governed by the agreement between partners or between the LLP and the partners. This Agreement would be known as “LLP Agreement”.

Limited Liability Parntership_13

Whether LLP Agreement would be mandatory for all LLPs?

As per provisions of the LLP Act, in the absence of agreement as to any matter, the mutual rights and liabilities shall be as provided for under Schedule I to the Act. Therefore, in case any LLP proposes to exclude provisions/requirements of Schedule I to the Act, it would have to enter into an LLP Agreement, specifically excluding applicability of any or all paragraphs of Schedule I.

Wild Boars

Wild Boars

There was a village that was attacked by wild boars.Everyday the wild boars would enter the village to rampage the whole village of their food. The villagers tried various means to fight and chase away the wild boars, but without much success.

One day a wise man approached the village headman to offer his advice. He told the villagers that they will have to follow all his advice and directions. Out of desperation, the villagers agreed. The wise man told the villagers to gather all the food from every household and put it in the middle of a big empty field. They followed his advice, and immediately they saw hundreds of wild boars approaching the vicinity where the food was placed. The wild boars were apprehensive initially, but after a while they went for the food.

Once the wild boars had a taste of the food they came back for the free food everyday. And everyday the villagers would put more food in the field and the wild boars would come to have their free meals. After a while, the wise man asked the villagers to erect four poles at the four-corners of the field.The wild boars were too busy having their food that they did not take notice of what was happening.

After a few weeks, the wild boars developed the habit of having free food. The wise man then asked the villagers to put fencing around the field, with a large gate through which the wild boars can enter to have their food. Finally once the fencing and the gate were completed the villagers closed the gate and all the wild boars were trapped inside the field. The wild boars were finally defeated!

Habits are easily developed but difficult to get rid of. The wild boars were trapped because out of their greed, they developed the habit of having free food, and without having to work for their food. They became so comfortable, that they did not realize they were being trapped. Most of us are like the wild boars because we become too comfortable with our jobs and businesses that we do not realize we are in one way or another being "trapped".

We seek security rather than freedom!

When we share

When we share laughter,
There's twice the fun;
When we share success,
We've surpassed what we've done.

When we share problems,
There's half the pain;
When we share tears,
A rainbow follows rain.

When we share dreams,
They become more real;
When we share secrets,
It's our hearts we reveal.

If we share a smile,
That's when our love shows;
If we share a hug,
That's when our love grows.

If we share with someone
On whom we depend,
That person is always
Family or friend.

And what draws us closer

And makes us all care,

Is not what we have,

But the things we share.

You are important

ThoughtFire

An example how the works can be done differently.

An old man lived alone in a village. He wanted to spade his potato garden , but it was very hard work. His only son,who would have helped him, was in prison.

The old man wrote a letter to his son and mentioned his situation:

Dear Son,

I am feeling pretty bad because it looks like I won’t be able to plant my potato garden this year. I hate to miss
doing the garden, because your mother always loved planting time. I’m just getting too old to be digging up a garden plot. If you were here, all my troubles would be over. I know you would dig the plot for me, if you weren’t in prison.

Love, Dad

shortly, the old man received this telegram: “For Heaven’s sake, Dad, don’t dig up the garden!! That’s where I
buried the GUNS!!”

At 4 a.m. the next morning, a dozen FBI agents and local police officers showed up and dug up the entire garden
without finding any guns.

Confused,
the old man wrote another note to his son telling him what happened, and asked him what to do next.

His son’s reply was: “Go ahead and plant your potatoes, Dad.. It’s the best I could do for you from here.”

4 wives

There was a rich merchant who had 4 wives. He loved the 4th wife the most and adorned her with rich robes and treated her to delicacies. He took great care of her and gave her nothing but the best.

He also loved the 3rd wife very much. He's very proud of her and always wanted to show off her to his friends. However, the merchant is always in great fear that she might run away with some other men.

He too, loved his 2nd wife. She is a very considerate person, always patient and in fact is the merchant's confidante. Whenever the merchant faced some problems, he always turned to his 2nd wife and she would always help him out and tide him through difficult times.

Now, the merchant's 1st wife is a very loyal partner and has made great contributions in maintaining his wealth and business as well as taking care of the household. However, the merchant did not love the first wife and although she loved him deeply, he hardly took notice of her.

One day, the merchant fell ill. Before long, he knew that he was going to die soon. He thought of his luxurious life and told himself, "Now I have 4 wives with me. But when I die, I'll be alone. How lonely I'll be!"

Thus, he asked the 4th wife, "I loved you most, endowed you with the finest clothing and showered great care over you. Now that I'm dying, will you follow me and keep me company?" "No way!" replied the 4th wife and she walked away without another word.

The answer cut like a sharp knife right into the merchant's heart. The sad merchant then asked the 3rd wife, "I have loved you so much for all my life. Now that I'm dying, will you follow me and keep me company?" "No!" replied the 3rd wife. "Life is so good over here! I'm going to remarry when you die!" The merchant's heart sank and turned cold.

He then asked the 2nd wife, "I always turned to you for help and you've always helped me out. Now I need your help again. When I die, will you follow me and keep me company?" "I'm sorry, I can't help you out this time!" replied the 2nd wife. "At the very most, I can only send you to your grave." The answer came like a bolt of thunder and the merchant was devastated.

Then a voice called out : "I'll leave with you. I'll follow you no matter where you go." The merchant looked up and there was his first wife. She was so skinny, almost like she suffered from malnutrition. Greatly grieved, the merchant said, "I should have taken much better care of you while I could have !"

Actually, we all have 4 wives in our lives

a. The 4th wife is our body. No matter how much time and effort we lavish in making it look good, it'll leave us when we die.

b. Our 3rd wife ? Our possessions, status and wealth. When we die, they all go to others.

c. The 2nd wife is our family and friends. No matter how close they had been there for us when we're alive, the furthest they can stay by us is up to the grave.

d. The 1st wife is in fact our soul, often neglected in our pursuit of material, wealth and sensual pleasure.

Guess what? It is actually the only thing that follows us wherever we go. Perhaps it's a good idea to cultivate and strengthen it now rather than to wait until we're on our deathbed to lament.

Practical Problems_Copyright Act_29

A, subscribers downloaded unauthorized photographs of playboy enterprises to a bulletin board system. Does it create infringement by A? Can it create an obligation on the bulletin board operators ?

Companies Act_Practical Problems_93

J held 100 partly paid up shares of LKM Limited. The company asked him to pay the final call money on the shares. Due to some unavoidable circumstances he was unable to pay the amount of call money to the company. At a general meeting of the shareholders, the chairman disallowed him to caste his vote on the ground that the articles do not permit a shareholder to vote if he has not paid the calls on the shares held by the him. J contested the decision of the chairman. Referring to the provisions of the Companies Act, 1956 decide whether the contention of J is valid.

Lunch with God

A little boy wanted to meet God. He knew it was a long trip to where God lived, so he packed his suitcase with a bag of potato chips and a six-pack of root beer and started his journey. When he had gone about three blocks, he met an old woman. She was sitting in the park, just staring at some pigeons. The boy sat down next to her and opened his suitcase. He was about to take a drink from his root beer when he noticed that the old lady looked hungry, so he offered her some chips. She gratefully accepted it and smiled at him.

Her smile was so pretty that the boy wanted to see it again, so he offered her a root beer. Again, she smiled at him. The boy was delighted! They sat there all afternoon eating and smiling, but they never said a word.

As twilight approached, the boy realized how tired he was and he got up to leave; but before he had gone more than a few steps, he turned around, ran back to the old woman, and gave her a hug. She gave him her biggest smile ever.

When the boy opened the door to his own house a short time later, his mother was surprised by the look of joy on his face. She asked him, "What did you do today that made you so happy?" He replied, "I had lunch with God." But before his mother could respond, he added, "You know what? She's got the most beautiful smile I've ever seen!"

Meanwhile, the old woman, also radiant with joy, returned to her home. Her son was stunned by the look of peace on her face and he asked, "Mother, what did you do today that made you so happy?" She replied! "I ate potato chips in the park with God." However, before her son responded, she added, "You know, he's much younger than I expected."

Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.

People come into our lives for a reason, a season, or a life time!

Embrace all equally!

Never Give up

One day I decided to quit...

I quit my job, my relationship, my spirituality... I wanted to quit my life.

I went to the woods to have one last talk with God.

"God", I said. "Can you give me one good reason not to quit?"

His answer surprised me...

"Look around", He said. "Do you see the fern and the bamboo?"

"Yes", I replied.

When I planted the fern and the bamboo seeds, I took very good care of them.

I gave them light. I gave them water.

The fern quickly grew from the earth.

Its brilliant green covered the floor.

Yet nothing came from the bamboo seed.

But I did not quit on the bamboo.

In the second year the Fern grew more vibrant and plentiful.

And again, nothing came from the bamboo seed.

But I did not quit on the bamboo. He said.

"In the third year, there was still nothing from the bamboo seed. But I would not quit. In the fourth year, again, there was nothing from the bamboo seed. "I would not quit." He said. "Then in the fifth year a tiny sprout emerged from the earth.

Compared to the fern it was seemingly small and insignificant... But just 6 months later the bamboo rose to over 100 feet tall.

It had spent the five years growing roots.

Those roots made it strong and gave it what it needed to survive. I would not give any of my creations a challenge it could not handle."

He said to me. "Did you know, my child, that all this time you have been struggling, you have actually been growing roots."

"I would not quit on the bamboo. I will never quit on you. "Don't compare yourself to others..." He said. "The bamboo had a different purpose than the fern ... Yet, they both make the forest beautiful."

Your time will come, "God said to me." You will rise high! "How high should I rise?" I asked.

How high will the bamboo rise?" He asked in return.

"As high as it can? " I questioned.

" Yes. " He said, "Give me glory by rising as high as you can. "

A happy and meaningful life requires our continuous input and creativity. It does not happen by chance. It happens because of our choices and actions. And each day we are given new opportunities to choose and act and, in doing so, we create our own unique journey." Keep going...

A small story

Once a Junior School teacher asked her students to bring some potatoes in a plastic bag to school. Each potato will be given a name of the person whom that child hates. Like this, the number of potatoes will be equal to the number of persons they hate. On a decided day the children brought their potatoes well addressed. Some had two, some had three and some had even five potatoes. The teacher said they have to carry these potatoes with them everywhere they go for a week. As the days passed the children started to complain about the spoiled smell that started coming from these potatoes. Also some students who had many potatoes complained that it was very heavy to carry them all around. The children got rid of this assignment after a week, when it got over.

The teacher asked, "How did you feel in this one week?" The children discussed their problems about the smell and weight. Then the teacher said, "This situation is very similar to what you carry in your heart when you don't like some people. This hatred makes your heart unhealthy and you carry that hatred in your heart everywhere you go. If you can not bear the smell of spoiled potatoes for a week, imagine the impact of this hatred that you carry through out your life, on your heart?"

MORALE:

OUR HEART IS A BEAUTIFUL GARDEN THAT NEEDS A REGULAR CLEANING OF UNWANTED WEEDS.

“Kind Hearts Are Garden;
Kind Thoughts Are The Roots;
Kind Words Are The Blossoms;
Kind Deeds Are the Fruits”

FORGIVE THOSE WHO HAVE NOT BEHAVED WITH YOU AS EXPECTED AND FORGET THE BAD THINGS. THIS ALSO MAKES ROOM AVAILABLE FOR STORING GOOD THINGS.

NI_Act_Practical Problems_62

J, a shareholder of a co. purchased for his personal use goods from a mall on credit.He sent a cheque drawn on the co's A/c to the mall towards the full payment of bills.The cheque was dishounoured by the comapany's bank. J, the shareholder of comapny was neither a director nor a person incharge of the co. Examining the prov. of negotiable Act, state whether J has commited an offence under U/s 138 of the act and decide whether J can be held liable for the payment, for the goods purchased from the mall ?

Contract Act_Practical Problems_114

X,Y and Z are partners of software business jointly promise to pay Rs.30, 000 to A. Over a period of time Y became insolvent, but his assets are sufficient to pay one-forth of his debts. Z is compelled to pay the whole. Decide whether Z is required to pay whole amount himself to A in discharging joint promise?

Gautam Buddha & Brahmin....

Gautum Buddha was sitting under a banyan tree. One day, a furious Brahmin came to him and started abusing him. The Brahmin thought that Gautum Buddha would reciprocate in the same manner, but to his utter surprise, there was not the slightest change in the expression on his face.

Now, the Brahmin became more furious. He hurled more and more abuses at Buddha. However, Gautum Buddha was completely unmoved. Actually there was a look of compassion on his face. Ultimately the Brahmin was tired of abusing him. He asked, "I have been abusing you like anything, but why are you not angry at all ?"

Gautum Buddha calmly replied, "My dear brother, I have not accepted a single abuse from you."

"But you heard all of them, didn't you?" The Brahmin argued half-heartedly.

Buddha said, "I do not need the abuses, so why should I even hear them?"

Now the Brahmin was even more puzzled. He could not understand the calm reply from Gautum Buddha.

Looking at his disturbed face, Buddha further explained, "All those abuses remain with you."

"It cannot be possible. I have hurled all of them at you," the Brahmin persisted.

 

Buddha calmly repeated his reply, "But I have not accepted even a single abuse from you ! Dear brother, suppose you give some coins to somebody, and if he does not accept them, with whom will those coins remain?"

The Brahmin replied, "If I have given the coins and not needed by someone, then naturally they would remain with me."

With a meaningful smile on his face, Buddha said, "Now you are right. The same has happened with your abuses. You came here and hurled abuses at me, but I have not accepted a single abuse from you. Hence, all those abuses remain with you only. So there is no reason to be angry with you."

The Brahmin remained speechless. He was ashamed of his behavior and begged for Buddha's forgiveness.

Lesson to Learn from This Story:

Inner calmness and peace are keys to contented life. My Advice is Live life as per your goals and ambition in life. You know who you are and what you want in life, So dont respond to what person said about you in anger. Control your anger with patience and calmness. That is biggest Strength of Wise men.