Smart apps for your Android phone | ||
Android users are often faced with a problem of plenty as far as apps go, thanks to the gazillion options from Google Play. Either you burden your phone with too many or lose out on some key ones. Discounting games and default Google and usual networking apps, let's take a look at a select few that you should have in your Android phone; ones that would make your phone smarter and you cooler. What's more, they are all FREE! | ||
3G Watchdog Don't have an unlimited data plan on your phone and worried about paying through your nose for the extra usage? 3G Watchdog is just the app for you. It monitors your data usage separately for Wifi and 3G/GPRS and warns you when on verge of crossing your free limit. It allows you to set parameters like start and end date as per your billing cycle and data usage limit. It also forecasts how much one would end up using at the end of the billing cycle at the current usage rate. Advanced Task Killer The batteries of most smartphones are unfortunately not so smart. The prime contributors to the power drain are apps that keep running in the background without your knowledge. Advanced Task Killer (ATK) takes care of these unwanted processes at a frequency you choose to define. Don't worry about ATK closing one of your favourite apps as you can simply uncheck the same from the kill-list. Expect about 20% extra battery life once you start us ing this app. Endomondo Sports Tracker People say technology has made us lazy. Here's a piece of technology that encourages you to walk and talk. Endomondo Sports Tracker keeps a track of your outdoor fitness activities like walking, jogging, cycling etc with a tab on duration, distance, speed and calories. And you don't need to keep looking at the screen as this app provides an audio feedback about your progress every few minutes. What more, you can brag about your fitness achievements with detailed evidence on Facebook, thanks to its seamless integration. ColorNote Strangely, Android lacks a quality notepad. ColorNote fills that void. It is a simple notepad app that lets you quickly write and edit notes, memo, email, SMS, shopping or to do lists etc. As the name suggests, it allows you to assign different colours to the notes, password protect them and set reminders or make use of the in-built sticky notes feature. It also lets you back up your notes on the me mory card or online. Note: If you are looking for a more powerful tool, then opt for Evernote that goes well beyond just notes with the addition of photos, videos etc and makes that data available on multiple devices. But you need a data (internet) connection for Evernote to function smoothly. A standard notepad for all its worth is not the right way of storing critical information. Pocket is the way to go. It allows you to securely store all your sensitive data such as bank account details or passwords on your phone. And if the phone falls into wrong hands, that person still can't access your important data unless he knows your master password. But thanks to Pocket's automatic online dropbox backup, you can always retrieve the data even if you don't get your phone back. IMDb This one needs no introduction if you are a movie buff. Yes, the legendary international movie database can also be accessed through its app on your Android device. Information abo ut any movie, actor or member of the fraternity is literally at your fingertips. MoboPlayer Every Android phone does bundle a video player, but it falls short on several counts. With MoboPlayer, you can transform your phone into a full-fledged video player. You can dump any videos on the phone without converting them as MoboPlayer plays almost all the popular video file formats. It also supports subtitles, playlists and videos streamed through HTTP and RTSP protocols. Instagram is the new social rage. Initially limited to Apple users, it is now available on Android devices too and has already crossed 50 million downloads. If you are untouched by this phenomenon yet, Instagram simply allows you add a bunch of interesting filters and effects to your photos and share them with your followers. Simultaneously, you can follow the photo streams of those you find interesting enough. As some like to put it, Instagram is the Twitter of photos. Pixlr-o-matic If you like what Instagram brings to the table, but don't think it's enough, you cannot afford to miss Pixlr-o-matic. It helps you make your images classy or cool with just a few taps. With over 100 effects, 280 overlays and 200 borders to choose from, you have a big enough canvas to paint your imagination on. If you are too lazy or busy, you can simply use the randomiser function. And of course, you can share your creativity on Facebook, Twitter and other social networks through this app itself. Shazam We spoke about photos, videos and text; how could we leave out music? Ever been to a pub or a party and just couldn't remember the title of the track that's playing then? Start Shazam , point it towards the speakers for a few seconds and you will know all you need to about the number, along with the lyrics in line. Though that's the primary functionality, there's a lot more one can do with Shazam but I will leave that for you to explore. Let's stop here for now to give you a chance to experience the above apps. We will bring forth another bunch of smart apps for you shortly. |
Valuations are the only thing on our side |
Manish Sonthalia, vice-president and fund manager at Motilal Oswal Asset Management - Portfolio Management Services, believes that markets are unlikely to fall much despite weak macros, given the fact that valuations and corporate earnings growth are holding out and there're not much expectations about government policy action. In an interview with Nitin Shrivastava, he says the only big risk for India would be sovereign downgrade action which will impact government as well as corporates alike. Edited excerpts: |
Nitin Shrivastava |
The recent macro data points have not been good. What's keeping the markets steady? Is there a built-up of too much expectations on the reforms front? Most of the negatives are known. It's basically risk-on, risk-off environment or the change in global risk appetite that is driving the markets currently. There have been no incremental negative surprises and that's why markets seem to be holding up. I do not expect anything from the government in a hurry. The government is fully aware of the problems and it's likely to come up with solutions as and when it finds it feasible. It has been reiterating that the fiscal deficit would be contained within 5.3% for this fiscal and 6 months are the timeframe it had asked for. Probably, it's waiting for inflation to calm down post October when the base effect will also kick in. That is when we may see interest rate cuts and petro fuel price hikes. So, I am not of the view that since now presidential election is over, we will see markets coming down if the things don't move quickly. What do you make out of corporate earnings for the last quarter? Despite so many macro challenges, if you see the current quarter numbers, these are on track. There was lot of scepticism before the earnings season, but the 9-10% sort of growth that was expected has come in. Though there have been quite a few hits and misses, overall the results have been in line, be it consumer staples, automobiles or Larsen & Toubros of the world. Overall, we believe that earnings revision trajectory will be upwards in coming months. What are the key risks you see for market rally to get snapped? The big overhang is what if there is prolonged inaction, and then if we see sovereign rating downgrade action from rating agencies. The biggest loser would be the government as this will push up overseas borrowing costs for it as well as corporates. Even if the borrowing through issuing bonds constitutes only 20-25% in percentage terms, it's a big figure in absolute terms. If you look at the amount of ECB standing, over next 1-1.5 years, we will see $20-25 billion worth of rollovers. The higher borrowing costs would hurt us as we need tons of money for developing infrastructure. One need to closely watch out if there's going to be sovereign downgrade action. Also, we need to see what will be the repercussions on food as we are staring at drought situation this year. Food, in any case, has been a problem area for us and so, we may see some sections of the economy getting hurt big time. But there is no scope for any stimulus or anything similar to what we saw in 2009. In 2009 also, we had faced a 21% rainfall deficit on long period average basis and then we saw stimulus coming in, post Lehman crisis that helped us clock 8% GDP growth. But this time, there is no scope and it's not going to happen. So, we will have to live with 6% thereabouts kind of growth and everybody on the Street seems to have been resigned to this fact. The Reserve Bank of India (RBI) has maintained status quo on key policy rates. What's your call on investment-led infrastructure and other rat e-sensitive sectors in such a scenario? Currently, the risk premium required to generate consistent returns from infrastructure and capital goods stocks is pretty high because of various factors. We will see some interest coming in these sectors once the environment becomes better and the risk premium comes down. How are you approaching the defensives like consumer-oriented and pharma stocks? We are positive on a select few stocks in these sectors where there's earnings visibility, which are unleveraged and where the balance sheets are not broken. Though the pricing power is waning for consumer-oriented companies, volume growth will be the key to retain the momentum. So, the sales growth or the profit growth will come in from generating more volumes. These stocks will continue to trade at a premium and will be priced to perfection till the time they are delivering. For example, the stock of Jubilant Foodworks corrected from its highs, post the results. Are valua tions factoring in the slowdown in GDP growth? With 6% GDP growth, you can at best expect 13-15% kind of corporate earnings growth and the valuations seem to be factoring this as well. Markets are still trading 20% lower to their 2008 peak levels, but the earnings have grown nearly 50% since then. Of course, you need to look at stocks selectively based on their performance, but my whole point is valuations are the only thing that is on your side, given the current circumstances. There are a lot of ifs and buts and the market movements would be driven by global risk appetite. What do you make out of huge inflows from foreign investors so far this calendar year? When everybody on the Street is no negative on the markets, the foreigners seem to still believe in India's long-term growth story. India from inside may look like a drum of chaos, but there's a limit to the madness and FIIs are keeping faith. They have not given up on India as most of them realise that there are likely to be hiccups along the way and that's how India goes about doing things - when pushed to the wall, they deliver. Otherwise also, Indian stocks are not that expensive - in dollar terms if you see, they are 20% cheaper because of the rupee depreciation, so why not buy? One factor that can further help drive inflows is the qualified foreign investors (QFI) thing - the direct investment by QFIs into Indian equities. Otherwise, the inflows will be a function of global risk appetite. Have you seen change in sentiment among your portfolio clients? Domestic retail investors and high net worth clients are not too much interested in equities right now. They continue to remain invested in debt and other asset classes like gold and realty without realising that returns from equity though lumpy have been the best in the long term. The only ones who are investing now are those who have seen ups and downs of markets over the last 10-20 years. Right now, we are sitti ng on extreme side of negativity and as and when positive things happen, we will see more optimism. How do you see markets in the short term? The markets are likely to remain range bound with global risk appetite dictating near-term movements. They may see upsides to about 19000 over the next 6 months, with 16000 being the bottom and is unlikely to be breached even in a sovereign downgrade. |
Group policy best tool for pre-existing ailments |
Harsh Roongta |
I am a 45-year male having chronic kidney disease (CKD) stage three. Can I get a health policy? It is very unlikely that any insurance company will give you a health policy when you are already suffering from CKD. Even if you manage to get one, please keep in mind that normally all health insurance policies have a clause which excludes pre-existing diseases for the initial period of 3-4 years. So, any expenses incurred for and in relation to hospitalisation arising out of CKD will not be covered for the next as many years mentioned in the policy. If you are working with a large company, your best bet would be to go for a group insurance policy, in case one is provided by your employer that normally covers pre-existing diseases as well. The writer is CE O, Apnapaisa.com, an online marketplace for loans, insurance and investments. He can be reached at www.facebook.com/apnapaisa |
CIRCULAR
CIR/CFD/DIL/7/2012 August 13, 2012
To
All the Stock Exchanges
Dear Madam / Sir,
Sub.: Manner of Dealing with Audit Reports filed by Listed companies
1. Clause 31(a) of Equity Listing Agreement, inter-alia, requires listed companies to submit six copies of annual reports containing audited annual financial statements to the stock exchanges.
2. SEBI, in its continuous endeavor to enhance the quality of financial reporting being done by listed companies, has now decided to put in place a system to monitor the audit qualifications contained in the audit report accompanying the audited annual financial statements submitted by listed companies. The exact text of amendments to Equity Listing Agreement in this regard is given in the Annexure to this circular.
3. Accordingly, listed companies shall now be required to submit the following forms, as may be applicable, along with copies of annual reports submitted to stock exchanges:
Form A: Unqualified/ Matter of Emphasis Report
Form B: Qualified/ Subject To/ Except For Audit Report
4. The format of Form A and Form B is given in the Annexure to this circular as part of the amendments to Equity Listing Agreement. These forms shall be signed by the a) Chief Executive Officer / Managing Director, b) Chief Financial Officer, c) Auditor and d) Chairman of the Audit Committee. The information submitted as per these forms shall also draw attention to relevant notes in the annual financial statements, management's response to qualifications in the Directors' report and comments of the Board/ Chair of the Audit Committee.
5. Stock exchanges shall adopt the following procedure to process the audit reports accompanying audited annual financial statements submitted by listed companies along with Form B:
(a) Stock exchanges shall carry out preliminary scrutiny of reports accompanied by Form B including seeking necessary explanation from the listed company concerned and consider the same based on materiality of the qualifications. The parameters for ascertaining the materiality of audit qualifications shall be, the impact of these qualifications on the profit and loss, financial position and corporate governance of the listed company. For the purpose of uniformity, stock exchanges shall consult one other for deciding the criteria for preliminary scrutiny. Further, stock exchanges shall also consult one other for distributing the work in case shares of the listed company concerned are listed on more than one stock exchange.
(b) Upon examining the audit reports based on the above parameters, stock exchanges shall refer those cases, which, in their opinion, need further examination, to SEBI.
(c) SEBI has constituted the 'Qualified Audit Review Committee' (QARC) with representatives from Institute of Chartered Accountants of India (ICAI), stock exchanges, etc. The QARC shall review the cases received from the stock exchanges and guide SEBI in processing the qualified annual audit reports referred to by the stock exchanges.
(d) After analyzing the qualifications in audit reports, QARC may make following recommendations:
(i) If, prima facie, QARC is of the view that an audit qualification is not significant, it may suggest steps for rectification of such qualification;
(ii) If, prima facie, QARC is of the view that an audit qualification is significant and the explanation given by the listed company concerned / its Audit Committee is unsatisfactory, the case may be referred to the Financial Reporting Review Board of ICAI (ICAI-FRRB) for their opinion on whether the qualification is justified or requires restatement of the books of accounts of the listed company;
(iii) If an audit qualification is not quantifiable, QARC may suggest rectification of the same within a stipulated period.
(e) If ICAI-FRRB opines that an audit qualification is justified, SEBI may ask the listed company concerned to restate its books of accounts in compliance with the statutory requirements and inform its shareholders about the same by making an announcement to the stock exchanges.
SEBI may also direct the listed company concerned to reflect the effect of these restatement adjustments in the annual report of the subsequent financial year.
(f) If ICAI-FRRB is of the view that an audit qualification is not justified, ICAI may ask the statutory auditor of the listed company concerned to provide necessary clarifications and may take appropriate action.
(g) The scrutiny of all audit reports filed as per Form B shall be carried out twice a year based on the reports received up to half year ending on June and December of every year and for this purpose, the following timelines are prescribed:
Activity
To be completed by
Filing of annual audit reports by the listed companies
As per the provisions of the Listing Agreement
Preliminary scrutiny of the reports received during the half year (Jan - Jun and Jul -Dec each year) by stock exchanges and referring applicable cases to SEBI
One month from the end of half year ending on June and December each year.
Review of the cases by QARC
One month from the date of receipt of report from the Stock Exchanges.
Referring applicable cases to ICAI-FRRB
Fifteen days from the date of decision of the QARC
Receipt of reply from ICAI-FRRB
One month from the date of referral by QARC
Communication of decision on the case to the listed company concerned and the stock exchanges. This also includes reports received directly from ICAI-FRRB with a recommendation of restatement.
Fifteen days from the date of receipt of reply from ICAI-FRRB
Publication of restated financial results by the listed company concerned.
Within two months from the date of letter of communication to the concerned entity.
(h) SEBI may, at any stage, in the interest of investors, take necessary action as it deems fit, including mandating restatement of books of accounts.
(i) Stock exchanges shall display the list of companies which have filed their audit reports along with Form B.
6. This circular is issued in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992.
7. All stock exchanges are advised to ensure compliance with this circular. This
circular is applicable to all annual audited financial results submitted for the period ending on or after December 31, 2012.
8. This circular is available on SEBI website at www.sebi.gov.in under the categories "Legal Framework" and "Issues and Listing".
Yours faithfully, Sunil Kadam General Manager +91-22-26449630 sunilk@sebi.gov.in
Annexure: Amendments to Equity Listing Agreement
ANNEXURE Amendments to Equity Listing Agreement 1. In Clause 31 of Equity Listing Agreement, in sub-clause (a), after the term ".....Directors' Annual Reports", the following shall be inserted, viz.,:- "along with Form A or Form B, as applicable, the proforma for which shall be as under:- FORM A Format of covering letter of the annual audit report to be filed with the stock exchanges
1.
Name of the Company:
XYZ Ltd.
2.
Annual financial statements for the year ended
31st March …..
3.
Type of Audit observation
Un-qualified / Matter of Emphasis
4.
Frequency of observation
Whether appeared first time …. / repetitive …. / since how long period …..
5.
To be signed by-
CEO/Managing Director
CFO
Auditor of the company
Audit Committee Chairman
FORM B Format of covering letter of the annual audit report to be filed with the stock exchanges
1.
Name of the Company:
XYZ Ltd
2.
Annual financial statements for the year ended
31st March ……
3.
Type of Audit qualification
Qualified…../ Subject to …../ Except for……
4.
Frequency of qualification
Whether appeared first time …. / repetitive …. / since how long period …..
5.
Draw attention to relevant notes in the annual financial statements and management response to the qualification in the directors report:
May give gist of qualifications/headings (Refer page numbers in the annual report) and management's response
6.
Additional comments from the
This may relate to nature of the
board/audit committee chair:
qualification including materiality, agreement/disagreement on the qualification, steps taken to resolve the qualification, etc.
7.
To be signed by-
CEO/Managing Director
CFO
Auditor of the company
Audit Committee Chairman"
2. After Clause 31, a new Clause 31A shall be inserted, viz., :- "31A. The issuer agrees to restate its books of accounts on the directions issued by SEBI or by any other statutory authority, as per the provisions of the extant regulatory framework".
*********
Thanks & Best Regards,
Yogesh Gupta
Former Chairman-ICSI-NIRC
Director
V/Y/A/S Advisory and Consulting Pvt Ltd
Loan Syndication, Private Equity, Taxation and Corporate Law Matters
M-9810030521 Email - ykgupta64@yahoo.co.in
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