ENTREPRENEURS: Excellent Message

 

A Teacher was writing table of 5 on the board:

5X1=3

5X2=10

5X3=15

5X4=20

5X5=25

5X6=30

5X7=35

5X8=40

5X9=45

5X10=50

After writing she turned back towards students and found that everybody was laughing at her.

On asking the reason for laugh, couple of students got up and told: Ma’am- first line of the table is wrong…It should be 5

Hearing this Teacher (smiling) explained

“I wrote the first line wrong on purpose, because I wanted you to learn something important. This was for you to learn how the real world will treat you. I wrote 9 correct lines but nobody congratulated me but one mistake and everybody pointed at it.

MORAL :

The world will never appreciate billion right things you do but will criticize for one wrong doing. Therefore, never ever get disheartened if somebody criticizes you. Take it positive and rise above all criticisms.

The Elephant Rope (Belief)

 

One day a man was strolling through an elephant camp when he noticed that the elephants weren't being chained or confined in cages.

A short piece of rope fastened to one of their legs was all that stood between them and freedom from the camp.

The man was completely perplexed as he observed the elephants, wondering why they didn't simply use their strength to cut the rope and get away from the camp. Although it would have been simple for them to do so, they made no attempt.

He inquired of a nearby trainer, hoping to discover the reason the elephants were merely standing there without making any attempt to flee.

The instructor answered;

"We tie them with the same size rope when they are very young and considerably smaller; at that age, the rope is sufficient to hold them. They are taught as children that they cannot separate as adults. They never attempt to get free because they still think the rope can hold them."

The only reason the elephants weren't escaping the camp was because they eventually came to believe that it simply wasn't possible.

The Lesson Of The Tale:

No matter how hard the world tries to stop you from achieving your goals, never give up on that belief. The key to truly achieving success is to believe that you can do it.

Rich Dad Poor Dad by Robert Kiyosaki Book (SUMMARY)

 

SUMMARY

Rich Dead Poor Dad is a must-have financial education course in school. Robert Kiyosaki tells the story he learned from his two fathers and provides valuable lessons for any financial education. The difference between working for money and working for money Why buying a house is not a good idea You will learn how to overcome the mental barriers that keep you from living the financial life you want.

Key Takeaways

(1) FIRST  Lesson: The wealthy don't work for wages  - "Both the middle class and the poor work for pay. Wealth works for the wealthy.

Everyone is pushed around by life. Some people can learn new skills by being pushed around. Others fight back and attribute their difficulties to others. The first team is successful. Those in the second group don't.

Most people set a price because they are concerned about running out of money. So they agree to a contract, put in a lot of effort, and then become enthused about everything money can buy for them. People continue to live in that pattern without understanding they may have accepted anything less than what they are truly worth.

Those who are under the spell of fear and greed are the ones who drive the Rat Race. They must get up, go to work, and pay their bills out of dread that they won't have enough money. As they are paid more, their desire causes them to spend more, which forces them to continue the cycle of nonstop work. Most people caught in this loop think that having more money will make their fears go away, but this is never the case.

Many wealthy people are more motivated by fear than are those without wealth. They do so out of a fear of losing what they have worked so hard for and the social and other repercussions that might follow. They are motivated by this fear to stay in the Rat Race even after they have enough cash to leave.

Realizing that fear and desire are strong motivators of most human action is the first step in avoiding the traps they create. Although you cannot get rid of these feelings, you may learn to respond to them less strongly. And by doing this, you can prevent them from exerting an excessive amount of influence over your decisions.

When you are no longer driven by the need for a paycheck and the temporary security that goes along with it, you will be able to identify chances that will enable you to make much more money than you could as an employee.

Excellent Quotes:

• "Life drags us all around. While some people give up, others struggle. Few people go on after learning their lesson. They enjoy being pushed around by life.

• "A job is essentially only a temporary fix for a long-term issue."

• "Fear is what keeps most people employed: worry of not being able to pay the rent, fear of getting fired, fear of not having enough money, and dread of having to start over. It is the cost of going to school to learn a trade or profession and then working to make money. Most people become slaves to money, which causes them to lash out at their boss.

(2) SECOND Lesson: Why Teach Financial Literacy? - It doesn't matter how much money you earn. It depends on how much you maintain.

The knowledge you need to make, grow, and keep your money over time is known as financial literacy. You can wind yourself generating a lot of money but still being broke if you lack financial literacy. It can teach you how to manage your money wisely so that it eventually works for you.

Financial education is not well taught in schools. So many people hunt for ways to get rich quick in order to get out of debt after pursuing the American Dream. Their initiatives resemble trying to construct a building on a shaky foundation. You wind up with a highly vulnerable tour rather than the Empire State Building.

Knowing the difference between assets and liabilities is the first finance rule. Your assets are the things you own that provide you money. On the other hand, liabilities deprive you of money. To be wealthy, you must invest in assets rather than obligations.

Despite this, many continue to invest their money in costly cars and other debt-generating assets. Instead, they should aim to gradually acquire additional assets (e.g., real estate, stocks, bonds, IP, and other things that make you money). When you have enough assets, you can support yourself without relying solely on a salary.

Many people pick up the skill of working hard for money, but they seldom master the art of making money work for them. They are stuck in the Rat Race forever without that basis.

For instance, a lot of individuals think their house is an asset. Yet in reality, it is a liability. This is due to the fact that having your money invested in a home prevents you from taking advantage of chances and costs you money in taxes, fees, value loss, and other costs.

Instead of buying a house, it is preferable to first invest in assets that will produce enough income to cover your mortgage. After you have enough assets to pay all of your costs and then some, you can invest the remaining funds in further assets, which will increase your income and allow you to quit your job.

R. Buckminster Fuller stated that "wealth is a person's ability to endure so many number of days forward, or, if I stopped working today, how long could I survive?" as one definition of wealth. To become wealthy, you must first make sure that your income from assets surpasses your outgoings.

Excellent Quotes:

• "Those with wealth acquire assets. The middle class and the poor amass liabilities that they mistake for assets.

• "If you have a tendency to spend everything you earn, more money would probably merely encourage you to spend more."

• "The financial story depicts a picture of hard labour to get ahead in 80 percent of most families. They spend their lives purchasing liabilities rather than assets, thus this effort is useless.

(3) THIRD Lesson : Take care of your own affairs - "The poor concentrate on their income lines, while the rich concentrate on their asset columns."

Most people dedicate their entire life to working for others. Their employer, the government through taxes, and the banks through their mortgages can all be included here. The majority of people continue to be caught in the cycle of working for others to enrich them at their expense.

It's not necessary to launch your own business in order to end this cycle. In reality, all you need to do is concentrate on increasing your assets rather than solely depending on your income. Due to the fact that they lack assets that can work for them, many people live paycheck to paycheck and are never able to escape the Rat Race.

Because the items you use to calculate your net worth are frequently not as valuable as you believe they are or, if they have appreciated in value, will result in taxes on the gain when you sell them, net worth is a poor indicator of your financial situation.

The smartest thing you can do when you're young is to keep your liabilities low and begin using your excess income from work to develop a strong foundation of assets. There are several forms of common assets, including:

• A company that doesn't need you there. You could own a company that is operated or managed by someone else. It's a job, not a business, if you have to be there.

Stocks

• Bonds

• Income-generating real estate

• Notes (IOUs)

• Royalties from intellectual property such as music, scripts, and patents

•      Anything else with worth, income potential, or appreciation and a market that is ready for it.

It's crucial to concentrate on gaining things you adore. Real estate and startups are loved by some people while being feared or burdened by others. Investing in things that are compatible with income-generation methods that are effective for you is an essential component of your asset acquisition strategy.

Excellent Quotes:

• "Never let a dollar leave it after it enters. Consider it like this: Each money that enters your asset column becomes an employee of your company. The fact that money may last for generations and works around-the-clock is one of its best qualities.

• "Those who work for someone else their entire life frequently experience financial difficulties as a direct result. Many workers will simply have nothing to show for their labour at the end of the day.

• "A key distinction is that whereas the wealthy tend to purchase luxury items last, the poor and middle class typically do so early."

(4) FOURTH Lesson: The Authority of Companies and the History of Taxation - The key secret of the wealthy, according to "my rich dad," was how he used firms to play the game smartly.

Contrary to popular belief, the middle class and upper middle class frequently pay the majority of taxes, not the rich or the poor. While taxes were first primarily levied on the wealthy, as the government grew and needed more funding, it became necessary to broaden the tax base. As a result, those at the bottom and middle rungs of the socioeconomic ladder had to bear a greater weight from income tax.

Corporations have been the main vehicle used by the wealthy to evade taxes. A lower income tax rate for businesses than for individuals benefits them, and many of their expenses can be covered by pre-tax funds.

Although tax law has attempted to develop new ways to tax the wealthy, they frequently find new loopholes to exploit. One tax rule, for instance, permits you to postpone paying taxes on real estate that is exchanged for a more expensive piece of real estate and sold for a capital gain. You won't have to pay taxes until you sell if you keep trading up in real estate. That's just one example of how smart people who understand taxes are able to keep more of their money than those who are unaware of the rules.

Because of this, knowledgeable tax experts are frequently worthwhile investing in. They stop you from giving the government more money than is necessary.

The more opportunities you'll find to stretch your dollars, the better your financial Intelligence. Some crucial components of financial IQ include:

    • Accounting: the ability to interpret financial statements and comprehend a company's strengths and limitations.

    • Investing: Recognizing techniques and financial models.

    • Market understanding: being aware of supply, demand, and market dynamics.

    • Legal literacy: understanding tax benefits and protections

Having a corporation is the best illustration of applying financial intelligence. By understanding how to use legal entities, you can pay for costs before you've been taxed on your paycheck, so reducing both your tax liability and your expense liability.

Excellent Quotes:

• "The rich don't simply acquiesce when people try to punish them. They respond. They have the resources, authority, and motivation to bring about change. They don't just stand around and pay additional taxes on their own volition.

• "If you work for pay, you give your boss authority. If money is beneficial to you, you retain and exercise control over it.

Workers work, pay taxes, and then struggle to make ends meet. A firm makes money, spends it all, and is then taxed on the remaining amount. The wealthy use it as one of the biggest legal tax loopholes.

(5) FIFTH Lesson: The Wealthy Create Money -  "In the actual world, bravery frequently triumphs over intelligence."

Financial savvy takes information, but it also demands the guts to take risks and avoid "playing it safe" in risky situations. The people who are prepared to take risks are the ones who recognise chances and seize them as opposed to watching from the sidelines and speculating on how things may have turned out.

Holding onto the way "things used to be" is one issue that prevents people from achieving their financial goals. In a world that is changing quickly, if you grow used to things and don't find a method to adapt, you'll probably fall behind.

You'll learn more once you develop the practise of seizing opportunities, and luck will finally work in your favour. It's crucial to understand that money is not your most precious possession, even if you learn the game and master it. It's crucial to properly train and care for your intellect.

Markets fluctuate, and opportunities appear and disappear. The key is to be able to recognise trends as they emerge, possess the knowledge necessary to assess them, and advance with concepts that have a high chance of success and little danger of failure. You will succeed if you can do that well.

You won't always succeed with money, and that's a lesson worth learning. You'll both make losing and winning investments. The trick is to keep improving over time and to not blame oneself for failures.

Investors can be divided into two groups: those who generate investments and those who purchase packaged assets from a retail location. You need three skills to be the second type of investor:

    • The capacity to identify opportunities that others have overlooked; 

    • The capacity to raise money; 

    • The capacity to recruit and manage intelligent individuals;

Excellent Quotes:

   • "Some people's biggest liability is their old views. They are ignorant of the fact that while an idea or method of doing something was an asset yesterday, yesterday has passed, making it a liability.

    • "I don't take the opportunity if it's too complicated and I don't understand the investment. You only need basic maths and common sense to succeed financially.

    •  If you know what you're doing, it's not gambling. If you're just investing money in a deal and hoping for the best, that's gambling.

(6) SIXTH Lesson: Don't work for money; rather, work to learn - "To my educated father, having a stable job was vital. For my wealthy father, education was important."

Many people miss out on opportunities and money because they specialise too much and neglect to pick up additional skills. Most people just concentrate on working hard, but that's sometimes insufficient. Even if you produce a fantastic book and are a wonderful writer, you may not achieve best-selling status. But, your chances of producing a best-seller may significantly increase if you develop strong selling and marketing skills. Many people lack the motivation and enthusiasm to learn the one talent that will advance them.

A job might be viewed as an opportunity for learning, to put it another way. While earning money at a job is great, developing new talents will help you accumulate experience that will be beneficial in the long run. So, it could be beneficial to check out a variety of employment while you're still young.

A secure career with decent salary and perks in the short run is significantly less important than a position where you learn new things quickly. Often, it is preferable to gain new talents while earning slightly less money.

Three management competencies are essential for success:

1. Controlling cash flow

2. System management 

3. People management

The sales and marketing specialties are the most important. When you speak, write, and negotiate well, you can profit from having good communication skills in various areas of your life. Many people are hesitant to communicate because they fear being disregarded.

Excellent Quotes:

 • Living is similar to working out in the gym. The hardest thing is deciding to leave. It's simple once you get past that.

 • "There are many talented, uneducated people in the world. They are frequently underprivileged, have financial difficulties, or make less money than they are capable of, not because of what they know but rather because of what they do not know.

 • "I advise young people to seek employment because they will learn more from it than they will from it financially."

(7) SEVENTH Lesson: Overcoming Challenges - "How a person handles fear is the main difference between a rich person and a poor person."

Financially aware people may still not have a healthy cash flow for the following top 5 reasons:

1. Fear 

2. Cynicism

3. Laziness

4. Poor habits

5. Arrogance

Defeating Fear

Everybody is concerned about losing money. Rich people and poor people are distinguished by their responses to fear. The key thing is to keep playing and learn from your mistakes when you inevitably lose money. Learn to be inspired by your shortcomings rather than feeling depressed about them. Determine how you can later use the challenge to your advantage. When the optimum strategy is to play to win, the majority of players end up playing to avoid losing. Having a safe, balanced portfolio won't help you win large.

Getting Over Cynicism

Doubt, whether it is our own or the doubts of those in our lives, frequently prevents us from taking action. But, the best possibilities are frequently discovered when everyone is afraid—including you—but you muster the bravery to take action anyhow. You start to notice more opportunities and are less likely to be swayed by other cynical people who can make you make poor decisions when you learn to overcome doubt.

Overcoming Apathy

Being too busy to take care of things in your life is a classic example of laziness. You tell yourself that you can't do something while you're in this mindset. You could say, for instance, "I can't afford that." That might be the case, but if you question, "How can I afford it?" you might be able to discover a solution. Better inquiries enable you to rethink the issue and uncover details that you might not have otherwise noticed. And that's how advancement takes place.

Eliminating Bad Habits

Successful people frequently have healthy routines. Developing excellent habits frequently means making a sacrifice, but if doing so helps you achieve your goals, it will be worthwhile in the long run.

Overcoming Arrogance

One of the major components to maintaining and increasing your riches is remaining modest when you don't know something and refraining from believing that you are infallible. Overconfidence makes it simple to lose money.

Excellent Quotes:

    • "The pain of losing money is significantly greater than the delight of becoming rich for most individuals, which is why they don't win financially."

    • "Leaving the rat race is actually quite simple. Although it doesn't require much education, the majority of individuals are crippled by those doubts.

    • "I've never encountered a golfer who hasn't dropped a ball. I've never met somebody who has experienced love and never experienced heartbreak. Also, I've never known a wealthy person who has never lost money.

(8) EIGHTH Lesson: Getting Started - "Gold can be found everywhere. Most people lack the training to recognise it.

It takes trial and error to figure out how to make money, leave the Rat Race, and achieve financial success, but with enough effort you'll find your way. To get started, follow these 10 steps:

1. Look for a motive larger than reality, such as the force of spirit. Many people aspire to financial freedom but are unwilling to put in the effort necessary to get it. To ensure that you are capable of the task, you need a primary motivator. One strategy is to make a list of the things you don't want (for instance, "I don't want a job") and use that list as motivation to achieve financial independence. then make a list of what you do desire (e.g., to travel anywhere in the world anytime you want). These emotional motivations may inspire you to complete the task.

2. Use the power of choice every day. You make decisions every day that will either take you in the direction you want to go or away from it. For instance, you can decide to believe that money is bad and avoid knowing about it, or you can decide to learn about it and see money as a tool to help you live the life you want. It's conceivable that one group will perform better than the other. To choose to learn is the best option.

3. Choose your friends wisely: the influence of association. Your buddies can teach you a lot about right and wrong behaviour. It's crucial to gain knowledge from friends, but you should also think for yourself and avoid being a sheep. When everyone arrives, good deals are rarely found. Avoid attempting to time the market. Have people who can point out chances to you before they are fully exploited.

4. The power of learning quickly: master a formula before learning a new one. The typical pattern that most people follow is work, earn, pay the bills, invest in mutual funds, and then return to work. There are numerous formulations that might be more effective for you than this one. Your greatest asset is your capacity for learning.

5. Self-power: discipline's Pay yourself first. Discover how to muster the courage to carry out necessary tasks even when they are challenging.

Pay your brokers well: The influence of wise counsel. Don't try to get counsel for less. Excellent counsel is invaluable and frequently justifies the cost.

The power of receiving something for nothing: be an Indian giver. Look for investing options that have a quick return.

8. Focus on using assets to pay for pleasures. Instead of exchanging your assets for liabilities, use the revenue from your assets to purchase the things you want.

9. Pick heroes: the mythic influence. You may be more of what you want to be by being inspired by heroes. Choose your heroes carefully.

10. Teach and you shall receive: giving has power. Try giving first whenever you're lacking something, whether it's money, love, companionship, etc. You will frequently get something in return. Long-term benefits come from being kind to both yourself and other people.

Excellent Quotes:

    • It's easy to change your money-making formula if you're bored with what you're doing or aren't producing enough, according to this wise man.

    • "The hard road frequently turns easy, and the easy road frequently changes."

    • "Everyone of us knows individuals who have advanced degrees or who think they are intelligent, but whose balance sheet presents a different picture."

(9) NINTH Lesson: Certain Tasks - Also, you might think about performing the following:

• Put an end to what you're doing. Consider taking a pause to evaluate what is and isn't working for you.

• Seek for fresh concepts. Explore the world, read literature, and look for new chances.

• Track down someone who has accomplished your goal. Obtain their suggestions.

• Learn. Attend classes, read, and converse with others.

• Search for discounts.

• Think broadly.

• Learn from history past.

• Taking action always trumps waiting. Act if you are unsure.

DON’T ARGUE WITH DONKEYS

The donkey said to the tiger:

– “The grass is blue”.

The tiger replied:

– “No, the grass is green.”

The discussion heated up, and the two decided to submit him to arbitration, and for this they went before the lion, the King of the Jungle.

Already before reaching the forest clearing, where the lion was sitting on his throne, the donkey began to shout:

– “His Highness, is it true that the grass is blue?”.

The lion replied:

– “True, the grass is blue.”

The donkey hurried and continued:

– “The tiger disagrees with me and contradicts and annoys me, please punish him.”

The king then declared:

– “The tiger will be punished with 5 years of silence.”

The donkey jumped cheerfully and went on his way, content and repeating:

– “The Grass Is Blue”…

The tiger accepted his punishment, but before he asked the lion:

– “Your Majesty, why have you punished me?, after all, the grass is green.”

The lion replied:

– “In fact, the grass is green.”

The tiger asked:

– “So why are you punishing me?”.

The lion replied:

– “That has nothing to do with the question of whether the grass is blue or green. The punishment is because it is not possible for a brave and intelligent creature like you to waste time arguing with a donkey, and on top of that come and bother me with that question.”

The worst waste of time is arguing with the fool and fanatic who does not care about truth or reality, but only the victory of his beliefs and illusions. Never waste time on arguments that don’t make sense… 

There are people who, no matter how much evidence and evidence we present to them, are not in the capacity to understand, and others are blinded by ego, hatred and resentment, and all they want is to be right even if they are not.

When ignorance screams, intelligence is silent. Your peace and quiet are worth more.

EPFO - Two Adani stocks have "Captive Investors" who are EPFO subscribers.

Adani Enterprises and Adani Ports & SEZ are among the Nifty 50 stocks in which EPFO invests the majority of its equity funds; these stocks have plummeted since Hindenburg Research's allegations against the Adani group.

Source: The Hindu Newspaper 26, March, 2023
Up to 85% of EPFO's equity investments are earmarked for ETFs that track the Nifry 50, which included Adani Enterprises in September 2022.

Several sizable investors may have reconsidered their exposure to the Adani group in the wake of the Hindenburg Research report. However, a sizable pool of money has persisted in investing in two Adani stocks, including the company's flagship Adani Enterprises, and will continue to do so through at least September of this year unless its trustees decide to change their approach to investing at their meeting this week.

The Employees' Provident Fund Organization (EPFO), the largest retirement fund in India, invests 15% of its corpus in exchange traded funds (ETFs) linked to the NSE Nifty 50 and the BSE Sensex. EPFO is responsible for managing the retirement savings of 27.73 crore formal sector employees.

Keeping Adani stocks

Up to 85% of the equity investments made by the second-largest non-banking financial institution after the LIC of India are allocated to ETFs that track the Nifty 50; these ETFs added Adani Enterprises in September of last year and have continued to hold the stock for another six months for the period beginning on March 30 this year.

Since September 2015, when the EPPO opened up to equity investments by investing 5% of member contributions received in the form of supplemental contributions into ETFs, the index has increased by 50 points. Following a recent review of the index by NSE Indices, a division of the NSE, the APSEZ stock has also been kept in the Nifty 50 for the upcoming six months, along with Adani Enterprises.

Savings at stake

Neelam Shami Rao, the Commissioner of the Central Provident Fund, did not respond to questions posed by The Hindu on March 23 regarding the EPFO's exposure to the stocks of the Adani group, whether or not its fund managers had received any directives to avoid making new investments in those stocks in order to protect retirees' retirement funds, and whether or not a shift away from investments based on the Nifty 50 was being considered.

The EPFO is anticipated to have invested an additional Rs. 38,000 crore in ETFs during 2022–2023 out of the fresh contributions totaling an estimated Rs. 2.54 lakh crore received into EPF members' accounts. As of March 2022, the EPFO had Rs. 1.57 lakh crore invested in ETFs.

Trustees unaware

When contacted by The Hindu, trustees of the EPFO stated that they were unaware of the organization's exposure to Adani shares; nevertheless, the matter may come up at a two-day board meeting that would be presided over by Union Labour and Employment Minister Bhupender Yadav and start on Monday.

At the board of trustees meeting, it is anticipated that the EPFO's investment income for this year and the interest rate to be paid to members will be discussed. The EPF rate dropped to a 45-year low of 8.1% last year.

declining returns

According to a government official, because it has only recently started investing in Adani Enterprises, its exposure to the company's flagship stock is significantly lower than its overall exposure to APSEZ shares over the years. In September 2016, EPFO increased its equity exposure to 10% of new inflows, and in May 2017, it increased it further to 15%.

The investments EPFO has made in Adani, however, will reduce its returns on investment and may have an impact on the annual EPF rate paid to its members given the sharp decline in the price of Adani stocks since January 24.

58.5% lower than its 52-week high level of Rs. 4,190, attained in December 2022, the Adani Enterprises stock was down nearly 49% from the price levels at which it was listed in the NSE Nifty 50 as of March 24. The price of APSEZ stock has dropped nearly 19% since the start of 2022–2023 and is now more than 35% below its 52–week high of Rs. 987.8, set in September 2022.

SOURCE: The Hindu Newspaper, 26, March(Article by VIkas Dhoot)

LANDMARK JUDGMENTS of Justice DY Chandrachud & How CJI is appointed ?

How CJI is appointed ? 

The outgoing CJI starts the process of choosing the replacement after receiving a communication from the Law ministry, in accordance with the Memorandum of Procedure (MoP), which controls the procedure of appointment of judges in the higher courts.

According to the MoP, the senior-most judge on the supreme court is deemed qualified to serve as CJI, and the opinions of the departing head of the judiciary must be obtained "at an opportune moment."

The MoP, however, is silent regarding the deadline for starting the process of proposing the name of the new CJI.

Judge DY Chandrachur is renowned for his progressive views and focus on personal liberty, rights, and privacy in his rulings, from decisions on privacy to gender rights.

Justice DY Chandrachud took oath as the 50th Chief Justice of India (CJI). Union Law Minister Kiren Rijiju had earlier tweeted that justice Chandrachud will be India's CJI with effect from November 8 and will take oath on November 9.

Justice Chandrachud succeeded Justice UU Lalit. Chandrachud will serve as the CJI for two years, leaving office on November 10, 2024.

Who is Justice Chandrachud?

Justice Chandrachud, who was appointed to the Supreme Court on May 13, 2016, is the son of YV Chandrachud, who served as Chief Justice of India for the longest period of time, from February 22, 1978, to July 11, 1985.

From October 31, 2013, to May 12, 2016, Chandrachud was the Chief Judge of the Allahabad High Court. From March 29, 2000, till his appointment as Chief Judge of the Allahabad High Court, he served as a judge of the Bombay High Court.

The Bombay High Court recognised Chandrachud as a senior counsel in June 1998, and he later held the position of Additional Solicitor General up till his nomination as a judge.

Justice Chandrachud graduated with a BSc in Economics with Honors from St. Stephen's College in New Delhi. He then went on to earn his LLB from Campus Law Centre in Delhi University and his SJD and LLM from Harvard Law School in the United States.

He was a visiting professor of comparative constitutional law at the University of Mumbai and also practised law at the Supreme Court and Bombay High Court.

Top judgments made by Justice Chandrachud

Among legal and Lutyens circles, Judge Chandrachud is regarded as a revolutionary legal fighter who has delivered numerous landmark decisions that have advanced the cause of social change, particularly in the areas of gender rights and privacy.

Overturning his own father's verdict on privacy rights

The Supreme Court's nine-judge panel unanimously declared in August 2017 that the Indian Constitution upholds the basic right to privacy. Justice Chandrachud, along with Justices Khehar, RK Agarwal, and Abdul Nazeer, wrote the majority judgement in Justice K.S. Puttaswamy v. Union of India. He acknowledged that the right to life is inextricably linked to the right to privacy and dignity.

He had called the 1976 ruling in the well-known ADM Jabalpur case, in which his father was part of the majority finding by a five-judge constitution bench, "seriously defective" in his historic opinion proclaiming privacy as a basic right.

By a vote of 4:1, the five-judge panel ruled in the ADM Jabalpur case that Article 21 is the exclusive source of all rights to life and personal liberty and that when it is suspended, those rights are completely lost.

Entry of women in Sabarimala temple 

In the Sabarimala dispute (Indian Young Lawyers Association v. State of Kerala), Judge Chandrachud sided with the right of women between the ages of 10 and 50 to visit the Sabarimala Temple and ruled that denying them entry would be a breach of constitutional morals. He believed that such a rule violated women's individuality, liberty, and dignity. In a crucial regard, he pointed out that the decision to forbid menstruation women from entering a religious setting violated Article 17, which forbids "untouchability," since it implies that women are impure.

Decriminalisation of Section 377 under the Indian Penal Code 

Judge Chandrachud ruled that Section 377 was a "anachronistic colonial law" that infringed the fundamental rights to equality, freedom of expression, life, and privacy in Navtej Johar v. Union of India. Chandrachud stated in a separate concurring opinion that the decriminalisation was a first step in securing constitutional rights for the LGBT population.

On the Aadhaar Act 

In Honorable Justice K.S. Puttaswamy v. Union of India, he was the lone contrarian, holding that introducing Aadhaar as a Money Bill was illegal. Aadhaar Act issues regarding an individual's privacy, dignity, and autonomy have also been reviewed by him.

The arrests at Bhima Koregaon  

Justice Chandarchud dissented and brought up the issue of the rights of the accused in the Romila Thapar v. Union of India case, which involved the arrest of five human rights activists for their alleged participation in the violence at Bhima Koregaon and for being complicit in a plot against Prime Minister Narendra Modi. He had urged a Special Investigation Team to look into the arrests and said that the question was whether the arrests violated the accused's fundamental rights to free expression and personal liberty, which are protected by Articles 19 and 21 of the Constitution.

on the decriminalisation of adultery 

In Joseph Shinde vs. Union of India, Judge Chandrachud served on the court panel that decided to decriminalise adultery as a criminal offence. Chandrachud agreed with the majority view and stated that Articles 14, 15, and 21 of the Constitution were breached by section 497 of the IPC. He added that criminalising adultery was founded in patriarchal ideas and had led to centuries of female subordination as he read down section 198(2) CrPC.

On LG vs. CM in Delhi

Judge Chandrachud stated that the Lieutenant Governor is not the executive head of Delhi in his concurring opinion, which is another key ruling with political ramifications for various parties. He ruled that the Chief Minister and the Council of Ministers must lead the executive because representative democracy is a fundamental component of the executive in the case of Government of NCT of Delhi vs. Union of India. The judge added that the LG had no constitutionally guaranteed authority to act independently and was therefore bound by the CM's recommendations.

Twin Towers of Supertech razed

On August 31, 2021, a bench presided over by Justice Chandrachud affirmed the Allahabad High Court's decision and approved Supertech's decision to demolish the twin skyscrapers in Noida on the grounds that they were built unlawfully and in violation of building codes.

On 'Love Jihad': Hadiya case

In the Hadiya case, which was brought by Hadiya's family in 2017, the Indian Supreme Court upheld the legality of Hadiya and Shafin Jehan's union. The underlying argument has been referred to as a "love jihad" allegation in the media. Hadiya's choice of religion and marriage partner was maintained by Judge Chandrachud in his concurring opinion in the case of Shafin Jahan v. Ashokan K.M. He also reaffirmed that an adult's right to choose her marriage partner or religion belongs in her personal space

"STOCK MARKETS - A Good Or Bad Place!"

Someone questioned his Guru, saying, "My workers are not loyal to me. The world, my wife, my kids, and I are all highly self-centered. Nobody is infallible. Guru grinned and began to narrate.

There was a room with 1000 mirrors in a little village. One young girl used to enter and play there. She was delighted to see thousands of kids all around her. She would clap, and the 1,000 kids would all clap in response. She frequented this location because she thought it was the happiest and most beautiful spot on earth.

A gloomy and melancholy person once visited this exact location. Thousands of angry guys could be seen glaring at him from all sides. When he became frightened and raised his hands to strike them, a thousand hands rose to strike him back. He departed because he believed it to be the worst location on earth.

A room with 1,000 mirrors is what this world is to you. The universe will return to us what we release into it. This planet is a paradise. , or Hell. What we do with it is up to us, the Guru replied.

Link with this story on the market

The market is similar to a mirror in that someone with good risk management, money management skills, knowledge, and guidance would find it to be a wonderful place to create wealth and live happily with it like the young girl, while someone with poor risk management, money management skills, guidance, or half-knowledge would find it to be the worst place and will leave it quickly like the sad and depressed person.

Because of this, stock markets are also like a mirror that regards everyone equally and provides everyone with equal chances. It all depends on the investor or trader's perspective.

Before March 31 There Are Five Things You May Do To Reduce Your Income Tax

 

Before march 31 there are five things you may do to reduce your income tax

It is important to ensure you have maximised the tax benefits available to you as the fiscal year comes to a conclusion. There are further actions you can take in addition to using the Section 80C deductions to lower your taxes. Here are some wise tax decisions you should make in the coming days.

1. LINK THE PAN CARD AND AADHAAR NUMBERS
The deadline to link your PAN to your Aadhar is also March 31st. Do this right now if you haven't already. Neglecting to link PAN to Aadhaar could have detrimental effects. From April 1, your PAN will no longer be valid and cannot be filed or quoted for any transactions. Online transactions and verifications are also made simple by linking PAN to Aadhaar.

2. PURCHASE LIFE INSURANCE TO GET A TAX BENEFIT
One of the key factors that make life insurance so popular with investors is the tax-free return. However, the Government Budget for this year proposes taxing life insurance policy maturity proceeds if the total yearly premium paid surpasses Rs. 5 lakh. If this plan is approved, insurance plans purchased on or after April 1, 2023, will be subject to taxation. Get a policy before March 31 if you're planning to invest in a life insurance investment to take advantage of the discount.

 
3. OPEN AN ACCOUNT WITH THE NATIONAL PENSION SYSTEM
Most taxpayers will have already used up their Section 80C tax savings cap of Rs. 1.5 lakh. But do you also claim the additional Rs. 50,000 National Pension System (NPS) contribution deduction allowed under Sec. 80CCD (1b)? To save extra tax this year, open an NPS account right away. You might save up to Rs. 15,600 in taxes if you are in the 30% tax bracket. It only takes a few minutes to register an NPS account online if your PAN is connected to your AADHAAR. Create an account by visiting the NPS website at enps.nsdl.com and following the on-screen directions.
 
4. INVEST IN DEBT FUNDS TO ADVANTAGE DOUBLE INDEXATION
There are signs that the interest rate cycle is shifting after the Central Bank consistently raised rates. Debt funds will generate positive returns if interest rates decline or even remain unchanged. But there's another justification for purchasing debt funds and other non-equity investments by March 31 at the latest. If the investment is kept for at least three years, the indexation advantage becomes available. But, you receive an additional benefit of an additional year if the holding period extends to the fourth financial year. Do not sell your debt funds at this time for the same reason. To receive the indexation benefit of more than one year, wait until April 1 for the start of the new fiscal year.
 
5. Five Harvest Capital Gains And Losses
The previous two years have seen a lot of volatility in the stock market. It's time to book them by March 31 whether you've made gains or losses. Up to Rs. 1 lakh in long-term capital gains are tax-free. Selling some profitable mutual funds and stocks makes sense in order to register profits that are tax-free up to Rs. 1 lakh. The following day, you can purchase them back. It's time to book your losses if your stock market luck has been bad. You can offset these losses with profits from other assets. Only long-term capital gains can offset long-term capital losses. Yet, short or long-term capital gains may be used to offset short-term capital losses. Moreover, unadjusted losses may be carried over for a maximum of eight fiscal years.

9 Personal Finance Rules That We Should All Become More Aware Of

9 Personal Finance Rules That We Should All Become More Aware Of

1) Rule of 72 (Double Your Money) 2) Rule of 70 (Inflation) 3) 4% Withdrawal Rule 4) 100 Minus Age Rule 5) 10, 5, 3 Rule 6) 50-30-20 Rule 7) 3X Emergency Rule 8) 40℅ EMI Rule 9) Life Insurance Rule

1) Rule of 72 (Double Your Money)

No. of yrs required to double your money at a given rate, You just divide 72 by interest rate

Eg, if you want to know how long it will take to double your money at 8% interest, divide 72 by 8 and get 9 yrs

At 6% rate, it will take 12 yrs At 9% rate, it will take 8 yrs 2) Rule of 70 (Inflation) Divide 70 by current inflation rate to know how fast the value of your investment will get reduced to half its present value. Inflation rate of 7% will reduce the value of your money to half in 10 years.

3) 4% Withdrawal Rule Corpus Reqd = 25 times of your estimated Annual Expenses.

Eg- if your annual expense after 50 years of age is 500,000 and you wish to take VRS then corpus with you required is 1.25 cr. Put 50% of this into fixed income & 50% into equity. Withdraw 4% every yr, i.e.5 lac. This rule works for 96% of time in 30 yr period

4) 100 Minus Age Rule This rule is used for asset allocation. Subtract your age from 100 to find out, how much of your portfolio should be allocated to equities

Suppose your Age is 30 so (100 - 30 = 70) Equity : 70% Debt : 30% But if your Age is 60 so (100 - 60 = 40) Equity : 40% Debt : 60%

5) 10, 5, 3 Rule One should have reasonable returns expectations

10℅ Rate of return - Equity / Mutual Funds 5℅ - Debts ( Fixed Deposits or Other Debt instruments) 3℅ - Savings Account

6) 50-30-20 Rule Divide your income into

50℅ - Needs (Groceries, rent, emi, etc) 30℅ - Wants (Entertainment, vacations, etc) 20℅ - Savings (Equity, MFs, Debt, FD, etc) Atleast try to save 20℅ of your income. You can definitely save more

7) 3X Emergency Rule Always put atleast 3 times your monthly income in Emergency funds for emergencies such as Loss of employment, medical emergency, etc.

3 X Monthly Income In fact, one can have around 6 X Monthly Income in liquid or near liquid assets to be on a safer side

8) 40℅ EMI Rule Never go beyond 40℅ of your income into EMIs.

Say you earn, 50,000 per month. So you should not have EMIs more than 20,000 . This Rule is generally used by Finance companies to provide loans. You can use it to manage your finances.

9) Life Insurance Rule Always have Sum Assured as 20 times of your Annual Income

20 X Annual Income Say you earn 5 Lacs annually, you should at least have 1 crore insurance by following this Rule.