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Sunday, July 23, 2017

Poddar Foundation Pioneers an Initiative to Create a Healthier India

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Mumbai, Maharashtra, India
In a recent major development, Poddar Foundation in partnership with the Indian Medical Association (IMA) and Mr. Kewal Kapoor, a well-known IEC expert who runs the largest project in India on ageing, are set to embark on a massive movement to curb issues such as obesity and ill-health plaguing the country from a very young age. In an initiative to curb health issues that arise at a much later stage in life, Poddar Foundation aims at proactively targeting the subject from the very beginning by offering preventive measures that can be tackled during childhood itself by altering the health and food environments starting with schools across Maharashtra.
According to a latest report by World Health Organization (WHO), around 22 percent prevalence rate of obesity was reported in children and adolescents aged between 5-19 years over the last 5 years in India. Globally, the trend is high among children under five years of age with at least 41 million found to be obese or overweight in 2014.

Poddar Foundation’s Managing Trustee, Dr. Prakriti Poddar and IMA Maharashtra have tied up to create awareness in arresting obesity, mental health deterioration and its stigmas along with other related areas of good physical and mental health. IMA has committed its 37,000 member doctors and medical professionals to fight obesity on the ground level. Poddar Foundation will extend its support to this much needed initiative and will develop a first of its kind, digital repository for children, parents and teachers to educate, empower and assist them in this important venture.

Commenting on this thoughtful initiative, Dr. Prakriti Poddar, Managing Trustee, Poddar Foundation and an expert mental health therapist and counselor, said, “We look forward to garner suitable support from the Government of Maharashtra and relevant corporate CSR programs. As a team we are aggressively taking concrete measures to ensure that the program accords the highest priority as it affects the future wellbeing of our country. Mr. Kewal Kapoor and IMA as our partners will bring on board years of wisdom, experience and knowledge to ensure a wide reach of preventive measures capable of curbing such issues right from the child’s formative years.”

Dr. Jayesh Lele, President, Indian Medical Association (IMA) also expressed his views on this association. He said, “Various studies suggest that mindfulness can help treat or avoid obesity in children as it helps them control overeating impulses. We intend to consciously treat such kids through this initiative and create a strong awareness
about it. This is a perineal issue amongst growing children which needs immediate attention.”

The project’s first phase will go live, to give a digital identity across schools in Maharashtra, such as Symbiosis International School – Pune, Dhirubhai Ambani International School – Mumbai, Anubhuti School – Jalgaon, D. Y. Patil International College – Pune and provide them a one-point access at any given time. IMA Maharashtra will bring invaluable medical research and on ground initiatives that will see the online material and communication disseminated across its huge network spread across the state. A step by step approach to build this empowerment repository both in English and Marathi will have audio, video and other options available in the medium to make an efficient and exhaustive communication on this subject comprehensible to all strata.

Mr. Rohit Poddar, Managing Director, Poddar Housing, said, “We are delighted to have Dr. Prakriti take on the role of the Managing Trustee of the Poddar Foundation. With her at the helm, we see our Foundation contributing great value to addressing and helping solve the issues caused by mental health deterioration. In this day and age of stress, strife and inequalities, tools such as this one, that Dr. Poddar is developing, with the help of the Government of Maharashtra and concerned Corporates via their CSR initiatives, will be a valuable mechanism for awareness and greatly help in the mental health space. I wish Dr. Poddar all the success in this important mission of addressing mental health and the well-being of our Nation.”

The Poddar Foundation will soon be making a presentation to the Honorable Chief Minister of Maharashtra to press upon the urgency of a time bound program to be implemented.

About Poddar Foundation:

A family foundation in existence since 1983. This foundation has been focused on the upliftment and charities provided in the areas of Art, Education and Health.

The Foundation’s focus narrows and deepens into a single minded focus of Mental Health Awareness in India.

FinMin examines tax exemption for NPS withdrawals

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The ministry of finance is examining a Budget proposal by the Pension Fund Regulatory and Development Authority (PFRDA) to exempt national pension system (NPS) withdrawals from tax, bringing it at par with the employee provident fund (EPF) scheme to provide a level-playing field.

“We have made a proposal to the finance minister ahead of the Budget, where exemption of NPS withdrawals from tax is one of the key recommendations. It will be a game-changer for NPS resulting in a substantial increase in the assets under management with more private subscribers coming on board,” said a PFRDA official.

The Seventh Pay Commission, headed by A K Mathur, also recommended an exempt-exempt-exempt (EEE) status for NPS, bringing it on a par with the EPF scheme in terms of tax-free withdrawals.
PFRDA: BUDGET PITCH
Exempt NPS withdrawals from tax bringing it at par with EPF scheme
* Seventh Pay Commission also pitched for granting NPS an exempt-exempt-exempt status
Extension of co-contribution incentive by the government beyond December 31 to attract subscribers under Atal Pension Yojana
* The government has so far got over one million subscribers on board
Currently, the EPF withdrawals after five years of completion of service are tax exempt, while premature withdrawals before five years attracts tax ranging between 10 per cent and 34.608 per cent, barring exceptions.

The EPF enjoys ‘EEE’ status, while NPS accounts have exempt-exempt-taxed status, where any contributions to the schemes and its earnings are not taxed but amount received on withdrawal is taxed.

“There is indeed a case to provide EEE status to NPS, but the matter is still under examination,” said a government official.

In last year’s Budget, the finance minister provided employees the option of choosing between EPS and NPS, and a Cabinet note for amendment of EPF&MP Act, 1952, has been sent to the law ministry for vetting. Of the over Rs 1 lakh crore assets under management of NPS, 90 per cent falls under the central and state government schemes.

For the past five years, while the Employees’ Provident Fund Organisation has been giving a return of 8.25-9.5 per cent to its subscribers, NPS has given a return of 9.2 per cent and NPS Lite has given a compounded annual growth return of 9.68 per cent.

To incentivise Atal Pension Yojana (APY), the pension regulator has also asked for an extension of the co-contribution incentive by the government beyond December 31 to attract subscribers. It also wants to regulate superannuation funds.

APY guarantees subscribers a monthly pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000, or Rs 5,000 in turn for the contribution varying from Rs 42 to Rs 210 per month. The APY scheme got over one million subscribers on board by December. According to the current scheme, the government would co-contribute 50 per cent of the subscriber’s contribution or Rs 1,000 per annum, whichever is lower, to each eligible subscriber account for five years to 2019-20, who join the NPS before December 31, 2015 and who are not income taxpayers.

Currently, eight pension fund managers manage private-sector funds and only three run by state-owned financial institutions are allowed to manage central and state government funds. SBI Pension Funds, UTI Retirement Solutions, and LIC Pension Fund manage the government corpus. They also manage the private-sector corpus along with ICICI Prudential Pension Fund Management, Kotak Mahindra Pension Fund, HDFC Pension Management, Reliance Capital Pension Fund and the pension fund incorporated by Birla Sun Life Insurance.

Loton, Corp’s LiveXLive Subsidiary Enters Agreement with the Historic Saban Theatre in Beverly Hills

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Loton, Corp’s (OTC: LIVX) LiveXLive subsidiary has entered into an agreement securing the worldwide multi-year streaming rights for the historic 1,900 seat Saban Theatre in Beverly Hills, CA. LiveXLive will produce and distribute HD digital broadcast experiences of the world’s leading performers to any connected device.

“We are excited to have LiveXLive as our partner. LiveXLive will create and curate ongoing branded content including live streamed concert, and other lifestyle events from our historic venue”
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“We are excited to have LiveXLive as our partner. LiveXLive will create and curate ongoing branded content including live streamed concert, and other lifestyle events from our historic venue,” stated David Baron, Head of the BHPAC at the Saban Theatre.

The five-year agreement includes exclusive rights to stream all Saban Theatre events live across the globe on the LiveXLive website and mobile app in addition to select distribution partner platforms including web, mobile, radio, audio, television, virtual reality and other devices.

“With the Rock in Rio, Tao Group, KoKo’s, and Saban Theatre partnerships in addition to the creation of new shows, LiveXLive is well on its way to realizing the company’s vision to aggregate thousands of hours of premium live music and other exclusive curated content across the globe,” said Robert Ellin, LiveXLive Founder and Chairman. “LiveXLive is building the first independent global live music and lifestyle network providing fans access to experience music around the world like never before and all from the palm of their hand.”

In advance of the formal launch of LiveXLive later this year, the company will continue to acquire rights to top music festivals in addition to nightlife performances and other live music and curated content. The company is in discussions with content and distribution partners, venues and artists from around the world.

About the Saban Theatre
The Saban Theatre has been a significant cultural and architectural landmark for Los Angeles and Beverly Hills since its opening as the Fox Wilshire Theatre in 1930. The theatre produces year round music events as well as other engagements including acts such as Snoop Dogg, Adam Lambert, Billy Idol, Journey, Billy Crystal, Eddie Murphy, Dave Chappelle among other greats.

About Loton, Corp (OTC: LIVX)
Loton, Corp (LIVX.OB) is a parent company in the emerging live / digital music space. The company’s LiveXLive subsidiary intends to be the world’s first premium live music streaming network that will deliver around the clock live music to viewers on any connected device as an authentic and experiential platform. The platform plans to offer the world’s leading music festivals with multiday and multistage coverage, unique concerts, intimate performances and cutting edge programming. We plan to extend the live experience to fans on desktop, laptop, mobile, tablets, consoles, connected TVs and virtual reality platforms. The LiveXLive network expects to provide compelling and curated content that showcases the entire spectrum of music to include music inspired fashion, food, and lifestyle content and showcase interviews, backstage access and both fan and artist perspectives. LiveXLive intends to feature all genres of music including rock, pop, indie, alternative, EDM, country and feature major festival headliners as well as emerging artists performing at clubs and venues around the globe.

Forward Looking Statement
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events are forward looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include uncertainties as to levels of orders, ability to record revenues, release schedules, market acceptance of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks including those described from time to time in the Company’s filings on Forms 10-K and 10-Q with the Securities and Exchange Commission, press releases and other communications.

Paradigm Group launches Akshaya Tritiya Offers for their projects at Borivali.

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• Offers on Projects – Ananda Residency and Ariana Residency.

• Ease to homebuyers with enticing offers starting from INR.51,000 to INR. 3 Lakhswith a minimum booking amount of INR.51,000.

For Immediate Release………Mumbai, April 18, 2017 : Paradigm Group, a revolutionary firm in the galaxy of real estate has come up with offers on the festive occasion of Akshaya Tritiya. The objective of this initiative is to fulfil the housing dreams of the potential homebuyers.

On the festive occasion of Akshaya Tritiya, Paradigm Realty is offeringphenomenal benefits to the buyers on the purchase of property in their residential projects i.e Ananda Residency at Borivali(W) and Ariana Residency at Borivali(E). The prerogative also bestows the customers with the ease of slashing no amount in case of cancellation within 30 days of booking.
Homebuyers will be privileged with the provision of paying only INR 51,000 while booking a property at Ananda Residency complemented with a stupendous discount of INR 3 Lac for a 2BHK configuration starting at 1.44 Cr.Ananda Residency is a colossal gated-community with 255 fully air-conditioned apartments, in the suburb of BorivaliWest.The 2 acres of development is embraced with futuristic arenas, comfort & luxuries in harmony with picturesque nature as its surrounding. The project is adorned with four towers spanning across twenty storeys each with two levels of podium offering par excellence amenities which shall quench all the needs and aspirations of families. The project comprises of bespoke residences that offers array of facilities like deck area, recreation garden, activity lawn, reflexology zone, yoga area, lawn with mounds, all under one roof.The exemplary location & improvised infrastructure of its vicinity has added on value to this lucrative investment with its affordable ticket size. In terms of connectivity, the project is diadem as location connects to the western suburb swiftly as well as to the Mumbai- Gujarat Highway, and has well-established social infrastructure right at its doorstep.
For Ariana Residency,the customers will be ableto purchase a property by paying INR 51,000 at the time of booking , availing a further discount of INR 51,000 for 1 BHK configuration starting at INR 60 lakhs.Ariana Residency is stationed at the heart of Borivali East comprises of 400 apartments sprawling across four wings, each comprising of twenty one floors . The environs are bedecked with prestigious schools, hospitals, recreation parks, Malls & Super Market for retail therapy, bestowing the advantage of standardized living at an affordable price.This uber chic project bestows buyers with various state-of-the-art amenities like Wi Fi Enabled Health Club, High Speed Passenger elevators, Senior Citizens Corner, Children’s Play Court, Yoga Zone, Landscaped Garden at Podium Level to name a few. The area also offers stupendous connectivity with other parts of Mumbai and the location is sure to emerge as one of the most preferred location and gem destination in times to come because of its easy access and commutability to the western suburbs and Ahmedabad Highway.
According to Mr.Parth Mehta , Managing Director, Paradigm Realty , ‘’ The festival Akshay Tritiya brings about a positive outlook and boosts the buying sentiment. It is prominent for the developers in Maharashtra as it is the time when they gear up for increasing property buying activity in the market.”

About Paradigm Realty :

Paradigm realty group is based on ethos of delivering superlative aesthetics with pragmatic & qualitative landmarks which are sturdy and persistent commitment of transparency & time-bound performance.
The group is an eclectic mix of diversified yet aligned individuals focused to create marvels, which are based on utilitarian concepts. The designs are beautiful interplay of curvilinear detailing & straight-line architecture.
The synthesis of group is to deliver comfort homes catering to practical needs of end-user including cross ventilation, minimal floor-space wastage yet superlative aesthetics, dedicated functional areas & tailored budgets. The group’s focus areas are western suburbs of Mumbai including Santacruz(W) ,Khar(W) , Borivali etc.

Rs 45,000-cr Pearls ponzi scam: CBI arrests chairman, 3 others

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About two years after the Central Bureau of Investigation (CBI) lodged a case against two Pearls Group real-estate firms for allegedly raising Rs 45,000 crore fraudulently from 5.5 crore investors via collective investment schemes, the agency on Friday arrested four of their top officials, including chairman-cum-managing director (CMD) Nirmal Singh Bhangoo.

The four officials were arrested after their examination at the agency’s Delhi headquarters, in which they allegedly gave “contradictory and inconsistent responses on key queries,” according to a CBI source. Since the filing of the case, these are the first arrests made in the probe by the CBI.

Bhangoo is the CMD and promoter-director of one of the two Delhi-based firms, Pearls Golden Forest Limited (PGF), and a former chairman of the group’s Australia-based arm Pearls Australasia Pty Limited. The others arrested by the agency are Sukhdev Singh, managing director and promoter-director of the other accused firm, Pearls Agrotech Corporation Ltd (PACL); Gurmeet Singh, executive director (finance), PACL; and Subrata Bhattacharya, a PACL executive director; according to CBI’s press information officer RK Gaur.

The agency had in February 2014 registered a first information report (FIR) against the two firms and eight of their top officials, including Bhangoo, on charges related to criminal conspiracy and cheating. The probe revealed that the firms were allegedly running collective investment (ponzi) schemes under the garb of sale and development of agricultural land in an unauthorised manner.

“The probe revealed that the firms were working as non-banking financial companies without requisite approvals,” said the source. The source added, “The inquiry found prima-facie evidence of the accused firms having raised investments by issuing bogus land allotment letters to induce the investors.”

In searches carried out by the agency, it had recovered allegedly “huge records and data on deposits from the public, misutilisation and diversion of funds, the CBI had said. “On being directed by a court to wind up the scheme and refund the investors, a similar fraudulent scheme was operated under the name of one of the accused firms based in Delhi,” the source further said.

“Funds collected from new investors of the firm were allegedly used to repay the earlier investors of the other accused firm to stave off criminal prosecution,” said the source.

Apart from their fraudulent collections, the firms have been under the CBI scanner for alleged irregularities in their operations. The firms have denied the CBI’s allegations. Despite attempts, HT could not contact the firms’ spokespersons.

The agency recovered over 14,000 property documents worth several thousand crores of rupees that showed that in several cases, plots were allegedly booked in the name of multiple investors. “In case the investors would have wanted to sell off the land allocated to them, he or she may have ended in costly litigations,” according to the source.

The group was earlier also allegedly associated with an Indian Premier League (IPL) cricket team and had hired a former Australian pacer as the brand ambassador. The group was also allegedly associated with the sponsoring of international kabaddi tournaments held in the country.

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