Essay on Protecting Miles and Flora in The Turn of the Screw

Protecting Miles and Flora in The Turn of the Screw â€Å"I saw my service so strongly and simply. I was there to protect and defend the little creatures†¦Ã¢â‚¬  The governess sees it as her duty to protect Miles and Flora. What do they need protection from and how does Henry James illustrate this in his novel â€Å"The Turn of the Screw†? Henry James’s ‘Turn of the Screw’ can be interpreted in many different ways. He constructed his novel in order to make allusions to sexual topics, (without stating anything explicitly) madness, ghosts and the Victorian society. In this essay I will be analysing each of the above in order to make a conclusion as to what I think the children need protecting from. As for the ghosts being present or not,†¦show more content†¦But either way I don’t believe the governess saw the ghosts based on two main factors; first being, her vague description of Miss Jessel, and secondly, the fact Mrs Grose never saw either of the ghosts. I think the children need protection from the governess and her imagination. The governess comes across to have an unbalanced behaviour which doesn’t go well with the children. I also think madness links into the fact the governess is hallucinating. I believe the hallucinations have lead the governess to get carried away, which slowly turned her insane and made her very over-protective towards the children. The more the governess hallucinates the more insane she is going to get, which is not going to protect the children in anyway as she would be trying to sort out her imagination. The governess is only a child herself, having to cope with two other children alone maybe a bit to much too handle, so having this other pressure (the hallucinations) to cope with might just leave her to break down mentally. In the turn of the screw, Henry James never identifies who is to blame for the chaos at Bly. The interpretation bought about by the Victorian society is that the master is to blame. By neglecting his responsibility to provide a stabilizing environment at Bly, he allowed everything to breakdown into chaos:Show MoreRelatedThe Turn of the Screw1300 Words   |  6 Pages Henry James novel The Turn of the Screw is twofold. In the first chapter, the story begins at a Christmas party where guests hear the governess tale of fright and fight. This story is referred to as â€Å"two turns† of the screw by an anonymous guest at the Christmas party because the reader asks if they want to hear a story about two children instead of only one (3). In the governess account, it tells about her duty as caretaker of two wealthy children, Flora and Miles, who live at Bly, a large estateRead More Downfall of the Governess in The Turn of the Screw by Henry James1274 Words   |  6 PagesDownfall of the Governess in The Turn of the Screw by Henry James In the governesss insane pseudo-reality and through her chilling behavior, she managed to bring downfall to Flora and Miles, the children of Bly. With compulsively obsessive actions, irrational assumptions, and demented hallucinations, the governess perceived ghosts bearing evil intentions were attempting to corrupt and destroy the children she had taken the role of care for. In reality, the governess herself brought tragedyRead MoreThe Nameless Governess in The Turn of the Screw: Hero or Villain?1181 Words   |  5 Pagesface value. Taken with no thought of deception and that ghosts are real and the Governess’ is attempting to protect Miles, not harm him. Also from a psychological or Freudian perspective indicating she was mentally disturbed and kills Miles. Whether the Governess was simply a confused youth, thrust into a position beyond her ability and is further saddled with the tasks of protecting her two charges with ghosts or a manipulative shrew who means noth ing but harm to those around her because her mentalRead More Archetype Myths in Turn of the Screw Essay1119 Words   |  5 PagesArchetype Myths in Turn of the Screw In one surface reading of Henry James’s Turn of the Screw, the governess appears to be a victim of circumstance. Some critics however, say that she is not without blame in the turn of events that characterizes the story. They claim that leading to her demise are certain character flaws, such as envy and pride. In categorizing her character as such, this novella resonates several themes found throughout literature. In Northrop Frye’s essay The ArchetypesRead MoreSexual Repression in Turn of the Screw Essay975 Words   |  4 Pages people took anything not specified in sexual connotations. Realizing this, the authors of the time used this to their advantage and laid a heavy underlying sexual atmosphere as a basis for their stories. Henry James does just that in his Turn of the Screw. Though never directly stating so, his main character suffers from sexual repression that came along with her position in the Victorian age and eventually acts upon it, while the ghos ts in the story then serve as protection for the childrenRead More A Nineteenth Century Ghost Story in The Turn of The Screw by Henry James5496 Words   |  22 PagesA Nineteenth Century Ghost Story in The Turn of The Screw by Henry James The Turn of The Screw is a classic Gothic ghost novella with a wicket twist set in a grand old house at Bly. The story is ambiguous; we never fully know whether the apparitions exist or not and we are left with many more questions than answers. The Governess is left in charge of two young children, Miles and Flora, of whom she later becomes obsessed with, describing them as angelic. She hasRead MoreEnn315-Turn of the Screw2040 Words   |  9 Pages‘The Turn of the Screw is essentially an ambivalent text. Its narrative prompts divergent, even opposite readings, but does not reconcile them. What happens remains irrevocably uncertain’ James uses the prologue to the novel to introduce the themes with in this Novella but more importantly he encourages the readers to be active in reading between the lines , and not to accept what is said at face value , James achieves this by surrounding Douglass with a group of people who are clearly andRead MoreEnn315-Turn of the Screw2028 Words   |  9 Pages‘The Turn of the Screw is essentially an ambivalent text. Its narrative prompts divergent, even opposite readings, but does not reconcile them. What happens remains irrevocably uncertain’ James uses the prologue to the novel to introduce the themes with in this Novella but more importantly he encourages the readers to be active in reading between the lines , and not to accept what is said at face value , James achieves this by surrounding Douglass with a group of people who are clearly and intentlyRead MoreAmbiguities In Henry Jamess The Turn Of The Screw1383 Words   |  6 PagesHenry James’ novella The Turn of the Screw is famous for presenting various ambiguities about people, ghost, and scenes that can be interpreted in multiple ways. These ambiguities have sparked discussion on the various interpretations for over a hundred years. James presents the events through the Governess’ ambiguous narration, which means that we can only infer what the experience felt like from the children’s perspective. The Governess’ inconclusive narration contributes to the possibility thatRead MoreA Psychological Point Of View The Appearance Of The Apparitions963 Words   |  4 Pagesworking for the aristocratic Master of Blye, looking after young Flora and Miles. In the time period that the story takes place a young woman, unmarried, without children, by the age of twenty is frowned upon and unnatural. Without even getting to know the children she considers them her own, â€Å"my little girl.† (James 15) She has consciously taken on the role of these children’s mother, with that comes the responsibility of protecting them and making sure that they no harm comes to them, â€Å"I was there

Criminology - 995 Words

Organized Crime By Rita Goforth July 22, 2013 CJA/384 Criminal Organizations Instructor Jack Tandy When I think about organized crime and its very definition I immediately think of is the Italian Mafia, which has been portrayed in various articles, news casts, and historical culture and let’s not forget the many movies that have been made. This alone does not define what organized crime group are though I’m sure at one time it was the primary indicator for organized crime. Yet today this is not true at all and it would take multiple text books and research to explain it all because these groups have expanded so much. As defined by (Jay S. Albanese) organized crime functions as a continuing enterprise that rationally works to†¦show more content†¦To say the least would be to say that these groups are not defined to any race or sexual orientation (Jay S. Albanese). Though these criminal groups are no longer made up of only a couple of different races, they tend to still keep the â€Å"mob† mentality, meaning they still handle things outside of the law in many ways as well. Often when a member of one of these groups is harmed by another person or member of another group it can start a war between the groups, or even cause that single person to be harmed or even killed. These groups do not take matters to the police but take matters in to their own hands and this is where the â€Å"mob mentality† comes in to play. These actions also take place within a group itself; for example, say one person is caught stealing money because he or she believes they are owed more by their â€Å"boss†. This person is likely to be killed for this act in order to make an example so that the chain of command and order stays intact, this is another way they use intimidation to control the outcome of any situation (Senator Estes Kefauver, 1961). Like I mentioned before with today’s technology it makes it possible for many organized crime groups to communicate with one another without ever knowing the name of the other person, this also allows them to be able to keep secure and not risk the threat of exposure.Show MoreRelatedCriminology1427 Words   |  6 Pages(Siegal, 2010) (McLaughlin amp; Muncie, 2005) Criminology 211 Essay This essay topic consists of two main components. The first requires you to demonstrate your knowledge of and a familiarity with the theory/perspective and the second requires you to demonstrate an understanding of its application (in either policy or practice) and the impact of its application. i)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Briefly identify the main features and concepts of radical criminology. ii)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Critically discuss theRead MoreCriminology And Sociology : Criminology1296 Words   |  6 PagesSummary of Criminology and Sociology: Criminology is concerned with examining the complex issues of crime and criminality to find its underlying causes. To do this criminology primarily aims to achieve answers as to why crime occurs; who is committing said crimes and how society as a whole will respond to crime with regards to policy changes and its place in the media (Australian Institute of Criminology: 2015). Sociology is the scientific study of human social interactions in a societal contextRead MoreFunctionalist Criminology And Positivist Criminology Essay1525 Words   |  7 Pagesrational act and liberty. This method was industrialized between the 18th and 19th Century, it was created in order to process the criminal justice system and make sure everyone was treated equally (Classical Criminology is connected with Cesare Bonesana , Marchese de Beccaria). Positivism Criminology Is a an theory that is established by the concept of scientific understanding of law-breaking and criminality of people ,the key perception is to assess how behaviour is stubborn. There are also two typesRead MoreCrime And Crime : Criminology And Criminology1211 Words   |  5 Pages Crime choice theory, often referred to as environmental criminology or ecological criminology, is a branch of criminology that was supposedly started by the classical school’s Cesare Beccaria. As with many theories, it has e volved with time, but the basics of it have stayed much the same throughout time. Crime choice theory can relate through other theories such as; routine activity theory, environmental criminology, situational crime prevention and crime prevention through environmental designRead MoreThe Role Of Criminology And The Future Of Criminology1583 Words   |  7 Pagesintegration important for the future of criminology due to the flourishment of crimes in society. Researchers have begun to study crime and the punishments associated with specific crimes that do not include trust crimes such as fraud, workplace theft or income tax invasion. However, they are studying an array of criminal behaviors that involve illicit and illegal behaviors in an effort to establish how important integrated theory will affect the future of criminology. First, integrated theory must connectRead MoreCriminology And The Modern School Of Criminology1549 Words   |  7 Pagescauses, control, management, and conse quences of criminal behavior in an individual or the community is called criminology. Social philosophers coined the term criminology in the 18th century as they examined crime and the concept of law. Criminology regards crime as a social behavior and covers the making and breaking of laws, as well as the punitive actions for breaking the law. Criminology encompasses the creation of a set of general and verified principles regarding the knowledge of the law, crimeRead MoreClassical Criminology And Modern Criminology1412 Words   |  6 PagesClassical criminology is â€Å"usually seen as the first ‘real’ criminology† (Tierney,2009), due to its emergence in the eighteenth century, heralded by scholars Jeremey Bentham and Cesare de Beccaria. It is centred on the ‘act’ rather than the ‘offender’, as well as the use of punishment as a deterrence. Yet whilst classical criminology has evolved slightly over time, it’s narrow minded f ocus on the ‘offence’ rather than the ‘offender’ can result in the overlooking of crucial details that may haveRead MoreCriminology Courses : Criminology Course906 Words   |  4 PagesI enrolled in the Introduction to Criminology course to help improve my understanding of criminology. We are about a month into the course and I have learned a great deal about criminology. Firstly, I had some preconceptions related to criminology that have changed. I developed these preconceptions towards criminology as I grew up through various forms of my interaction with media, family, and friends. Secondly, I have learned that statistics don’t represent crime realistically, which causes someRead MoreDisorganization Theory Of Criminology And Criminology Essay1789 Words   |  8 PagesDisorganization theory of criminology Name Institution Disorganization theory of criminology Borski, J., and Harold. (1995). Social disorganization theory: influence of society and environment to crime: New York: Lexington. The two researchers use data from the Lexington library to determine how the environment people live in can influence their behaviors. It means that the social organization theory focuses on the effect of society towards crime. When a society or the people in it do not holdRead MoreCriminology : Life Course Criminology1817 Words   |  8 PagesLIFE COURSE CRIMINOLOGY ESSAY- 2000 WORDS MAY 2nd 2017 Life-course criminology is the focus on changes in offending and problem behaviours over the course of a person’s lifetime, often with three descriptions; developmental criminology, age related criminology and life course criminology, this is because although there are variations of the same general ideas, there are subtle differences. Developmental and life course criminology have many similar characteristics, however, they do also differ

Jwellery Industry in India Free Essays

string(28) " from parents to daughters\." THE JEWEL INDUSTRY OF INDIA WITH SPECIAL REFERENCE TO GITANJALI INTRODUCTION INDIAN JEWELLERY INDUSTRY India is a leading player in the global gems and jewellery market. The gems and jewellery industry occupies an important position in the Indian economy. It is a leading foreign exchange earner, as well as one of the fastest growing industries in the country. We will write a custom essay sample on Jwellery Industry in India or any similar topic only for you Order Now The two major segments of the sector in India are gold jewellery and diamonds. Gold jewellery forms around 80 per cent of the Indian jewellery market, with the balance comprising fabricated studded jewellery that includes diamond studded as well as gemstone studded jewellery. The Indian gems and jewellery industry is competitive in the world market due to its low cost of production and the availability of skilled labour. In addition, the industry has set up a worldwide distribution network, of more than 3,000offices for the promotion and marketing of Indian diamonds. The sector is expected to register a compound annual growth of (CAGR) of 13% during 2011-13, according to a report â€Å"Indian Gems and Jwellery Market Forecast 2013†. (By research firm RNCOS). MICHAEL PORTER’S 5 FORCE MODEL FOR JEWELLERY INDUSTRY INTER- FIRM RIVALRY- HIGH There are two types of rivalry. 1) Inside India (2) Outside India. †¢Large presence of unorganized sector. 0. 2 Million Gold jewellers and over 8,000 Diamond jewellers †¢International rivals Such as, China †¢Threat from producing nation like S. A. Russia. BARGAINING POWER OF SUPPLIERS – MEDIUM In jewellery industry the suppliers are S. A. , UAE, Australia, US, Congo, Botswana, Russia, DTC. †¢Few Alternatives of cutting polishing. †¢Skilled labour †¢Bargaining power of India is enhanced because India is largest consumer of gold jewellery. BARGAING POWER OF BUYERS- LOW Divided in two types 1. Domestic buyers . Foreign buyers †¢As investment (Demand increase) †¢Bargaining power of Indian exporter is high because Majority of the world’s rough diamond production is cut and polished in India THREAT OF SUBSITUTES- LOW Substitutes are Real assets, Stock market, ; Bank deposits ; Mutual fund investment and other types of jewellery like imitation Jewellery, bagasra jewellery, stone jewellery etc. †¢Second preferred investment behind bank deposits †¢Status and standard of living increase so demand is increasing at High rate BARRIERS TO ENTRY- LOW TO MEDIUM * Low capital requirement Government subsidy * EXIM policy ; government’s rules ; regulations are high * Skilled manpower is essential * Advanced technology required. GIT ANJALI | | | | | Vision To emerge as a jeweller of choice, in terms of quality, style and surpass all levels of customer satisfaction. Mission To assimilate the expertise of trained personnel and state-of the art machinery, so as to nothing, but the best. Values Are Integrity, Solidarity, Credibility and Perfection. The Gitanjali Group which was established in 1966, and is one of the earliest diamond houses in India. By 1968, it was accorded a ‘Sight† by the Diamond Trading Company Ltd. London and Gitanjali became one of the first Sight holders in India. It has received over 50 National and Council awards from the Ministry of Commerce for outstanding exports. It is one of the leading diamond exporting companies in India. Presently, Gitanjali Group has highly modernized diamond cutting and polishing facilities in India. The group strengthens its core business of loose diamonds with international association. Internationally, business patterns of the diamond industry. The Group has positioned itself to manufacture and promote diamonds as well as studded jewellery right up to the retail level. Gitanjali Group one of the leading integrated diamond ; Jewellery manufactures ; Retailers in India with turnover of Rs 3467 Cores. The Company has strong brands such as: * ASMI Asmi was launched in 2002 by the Diamond Trading Corporation. All the years the brand has been endorsed by various actresses such as Kajol, Parizad Zorabian ; Mandira Bedi. All these women epitomize the different strengths that an Asmi woman is identified with fire – spirited, goal oriented ; with an inner fire. NAKSHATRA Nakshatra is one of India’s most reputed diamond jewellery brands, achieving an iconic status within three years of its launch in 2000. Today, it is a leading diamond jewellery brand, patronized by women of fashion in almost all segments of society. * SANGINI Sangini is a high profile brand launched by the Diamond Trading Company, and Spectrum Jewellery , a joint venture between the Gitanjali Group and Sanghavi Exports, promotes the brand in India. * DIYA DIYA is the distilled essence of the Gitanjali Group’s four-decade long engagement with jewellery. It is the first B2B diamond jewellery brand for manufacturers and the trade. It offers exquisite designs, selected after a rigorous India-wide survey of 6,300 women – some of which are already acknowledged classics. * BEZEL Bezel is a watch store from the stable of the Gitanjali group products includes watches and writing instruments. Brand mix will include GLL brands ; brands from outside. * WORLD OF SILVER It has been conceptualized for offering silver gifts in various product categories like Home decor, Office Utility, Bar Sets, Table ware, Devotional Collections and Artefacts. It range of International Brands , Greggio from Italy and Frazer ; Haws from UK, offering best of the brand value and perceived value   while making gifting a lifestyle statement. It caters to the high end, up market ; value conscious niche cliental. * GILI Gili’s brand identity is to ‘Embrace the Gili way of easy elegance’. The Brand characteristics are Stylish, Contemporary, Extrovert, Enthusiastic and Self-made. And its Design concept is easy to wear, highly contemporary and trendy designs * D’DAMAS D’damas India Jewellery is a joint venture between Gitanjali Group and Dubai-based Damas based in  Mumbai. It has a presence in 159 towns and cities across  India. It main area of business is manufacturing and marketing of gold, diamond, silver, platinum branded jewellery’s in  India. It has six sub brands – Lamhe, Glitterati, Vivaaha, DER, Solitaire and Saumya. It is also only international brand in  India. D’Damas India also used as manufacturing base and will export jewelleries to markets like Saudi Arabia, Japan, US and Europe markets. * MAYA GOLD MAYA is the brand from the Gitanjali Gold Collection specifically aimed at the Indian wedding market and similar festivities and traditional occasions for gift-giving, especially from parents to daughters. You read "Jwellery Industry in India" in category "Papers" Lucera, Calgaro, Rivaaz, Kashvi, Stefan Hafner, Ezee Diamonds, Aakanksha, Rosato, Shuddhi, Parineeta, Sagaee and Menz are some other brands which sell its products in India through its vast network of 1,250 outlets including outlets in host stores. In fact, five of the top six brands in the Indian market are owned or managed by Gitanjali. These brands manifest the significance of the group in the Indian Jewellery retailing market. Additionally, the Company operates 143 retail Jewellery stores located across the United States through the acquisitions of Samuel Jewellers and Roger Jewellers. Activities undertaken by Gitanjali:- * Sourcing and Trading of Rough Diamonds * Diamond Manufacturing * Distribution and Trading of Polished Cut Diamonds * Jewellery Manufacturing and Exports * Jewellery Sourcing (Local International Markets) * Manufacturing Branded Jewellery * Retailing Branded Jewellery OBJECTIVES * The main objective of this term paper is to understand the value chain and its strategic distribution presence of GITANJALI in India. * To conduct a market survey in order to know the 1) Consumer perception about jewellery. 2) Brand awareness of various brands in jewellery market. 3) Parameters which the consumer considers while buying jewellery. * To critically examine the company and the environment by conducting the SWOT and PORTER’S 5 FORCE ANALYSIS. * To analyze and evaluate the financial performance of GITANJALI over the years. To highlight the CSR initiatives and the CORPORATE GOVERNANCE taken up by GITANJALI to uplift the society. * To study about the aggressive retail strategy and its growing focus on International and Domestic Reatail. SWOT ANALYSIS OF GITANJALI STRENGHTS †¢Large integrated diamond jewellery player and having an international presence. †¢Pioneers of branded jewellery in India. †¢Strong marketing distribution network. Str ong retail presence in India and in U. S. 112 distributors and 1246 outlets in India and 143 outlets in U. S. Strong brand equity and broad product range Such as, Gili, Asmi, Nakshatra, Sangini, D’damas, Vivaaha, Maya, Giantti, Desire, Samuels etc. †¢Visionary leadership (Acquiring Nakshatra, Samuels, Rogers etc. ) †¢Expanding manufacturing capabilities in Mumbai and at special economic zone in Surat to address increasing demand. †¢Net Worth is 3,460. 37 million Rs. So we can say that it is financially very strong company. †¢Sight holder status with DTC through a promoter group company. †¢Highly skilled, qualified and motivated employee. WEAKNESSES †¢There may be conflicts of interest between them and certain of their Promoter group companies. As the major raw material requirements need to be imported, companies normally stock huge quantities of inventory resulting high inventory carrying costs. †¢Technology is less improved compared to Chin a and Thailand’s company. OPPORTUNITIES †¢New markets in Europe Latin America. †¢Growing demand in South Asian Far East countries. †¢Industry moving from a phase of consolidation. †¢Expansion possibilities in lifestyle and luxury products in India like watches, leather goods, Platinum jewellery because increasing disposable income of people. THREATS †¢International Competition:-China, Sri Lanka and Thailand’s entry in small diamond jewellery. †¢Increase in the price of Gold Diamonds. †¢Other local competitors. According to the data 97% jewellery sales are by family jewellers. †¢Threat from producing nation like S. A. Russia. VALUE CHAIN OF GITANJALI * Sourcing and Trading of Rough Diamonds * Diamond Manufacturing * Distribution and Trading of Polished Cut Diamonds * Jewellery Manufacturing and Exports * Jewellery Sourcing (Local International Markets) Manufacturing Branded Jewellery * Retailing Branded Jewellery DISTRIBUTION AND RETAIL STRATEGY OF GITANJALI GITANJALI RETAIL BUSINESS * Gitanjali has strong retail presence in the world’s largest markets for jewellery. Retail business is a major Contributor in Gitanjali’s revenue. Gitanjali has over 2000 plus retail outlet across India and in the process of expansion in tier II and III cities to cater to new segment of the custom er. * USA is a largest jewellery consuming country and 45% of worldwide diamond jewellery sales are made in the United States. In FY 2007-08, Gitanjali made a strategic acquisition in USA, including Samuels and Rogers, and now has about 137 stores in Centre and across USA, being expanded to 200 stores in the near future. * Samuels and Rogers of Gitanjali are the 8th largest branded jewellery retail chain in US. * Gitanjali’s integrated supply chain business model has given an advantage to survive and post profit despite of US recession. * Gitanjali retail business has spread through all channels and in all geographies, across all the market segments * Net Profit has gone up because of shift in market from wholesale to retail. | | * | RETAIL EXPANSION STRATEGY IN INDIA * The Changing Socio – economic factors in India created a clear opportunity in Lifestyle and Luxury markets in India. These changes in retail environment have created opportunity for establishment of modern retail formats. Keeping this in view Gitanjali has embarked on an aggressive domestic retail expansion plan. * Gitanjaliâ₠¬â„¢s strategy is to increase the market share of various brands and its positioning in the market. Strategy is to generate demand for branded diamond jewellery in the future. Flagship product brands of the company are able to convert themselves into retail brands. * The group has introduced many promising brands to its bouquet. The new collection includes World of Solitaire, World of Silver, ME Solitaire, Maya, Gitanjali Menz, Maya Bridal, Bezel and many more. | * Gitanjali notable innovation has been its dramatic breakthrough from the confines of traditional distribution of jewellery and launching of mass distribution through variety of channels. By passing the old world of neighborhoods proprietary jewellery stores, it brought its new world branded jewellery into the world of super stores and department stores, dedicated jewellery marts and chain stores supported by international certifications of scientifically tested purity and authenticity. * Gitanjali is even marketing its br anded jewellery directly by mail order catalogue Gitanjali placed its jewellery brands right into the context of the new consumer’s shopping environment of new and global branded personal goods and accessories. Gitanjali supported its brand with high-visibility positional branding in both mass and local up-market media. With this multi – tiered mobilization of formats, Gitanjali is well placed to advance and realize its vision of global leadership. GITANJALI FINANCIAL PERFORMANCE The Company is making conscientious efforts in addressing the large market opportunities that exist in the Diamond Segment both in India and abroad. India, China, Israel and Belgium are the leading players in the diamond cutting and polishing industry. India accounts for 60% of the global polished diamonds in value terms, 80% in caratage and 90% in pieces. TURNOVERS PROFITS During the end of the financial year March 31, 2009 the sales and other income increased from 26,549. 08 Million to Rs. 26,940. 64 Million. The net profit before tax stood at Rs. 1,307. 20 million as against Rs. 1,486. 75 million in the previous year. The net profit after tax stood at Rs. 1,267. 69 million as against Rs. 1,381. 55 million in the previous year. FINANCIAL REVIEW Gitanjali Gems consolidated results of operations for the year ended March 31, 2009 include business and operations of the various subsidiaries/joint ventures. The company has achieved overall sales growth for the year ended March 31, 2009 of about 5% compared to last year. The gross revenue from diamond segment has decreased by 10% whereas the gross revenue from jewellery segment has substantially increased by 24% and thus the ratio of diamond and jewellery in the sales mix accordingly has improved more favourably towards jewellery from 55:45 last year to 47:53 for the year ended March 31, 2009. HIGHLIGHTS FOR THE YEAR 2010| * | * Jewellery Sales turnover increased by 60% to 1,098 cr. in FY10| * | * EBIDTA gone up by 44% to 102 cr. in FY10| * | * Operating Profit registered a growth of 51%, stood at 91 cr. | * | * PAT of FY10 stood at 41 cr. registering an increase of 39%| * | * Gems and Jewellery Sales volume grown to 1812 cr. reported a growth of 63%| NINE MONTHS FY10 vs. NINE MON THS  FY09 * Jewellery Sales turnover increased by  43%  to  Rs. 2703 cr. as compared to  Rs. 892 cr. in nine months period FY09 * EBIDTA gone up by  37%  to  Rs. 307 cr. from  Rs. 223 cr. in nine months period FY09 * PAT of nine months period FY10 stood at  Rs. 139 cr. as compared to Rs 120 cr. in nine months period FY09 registering an increase of  16% * Operating Profit of nine months period FY10 stood at  Rs. 283 cr. as compared to  Rs 201 cr. in nine months period FY09, registering an increase of  41% GITANJALI CORPORATE SOCIAL RESPONSIBILTY (CSR) INITIATIVES AND CORPORATE GOVERNANCE HUMAN RESOURCES The Company believes investing in people through creating an environment where people are valued as individuals and are given equal opportunities for achieving professional and personal goals. The Company’s focus on development of Special Economic Zones includes huge employment opportunities and the Company already initiated through setting up training centre in SEZ Hyderabad which has a capacity to train more than 1,500 workers in diamond and jewellery manufacturing. CORPORATE GOVERNANCE The Company’s philosophy of Corporate Governance is based on preserving core values and ethical business conduct, commitment to maximize shareholder alue on a continuous basis while looking after the welfare of all the stakeholders which is primary responsibility of the Board of Directors, Management and employees. The Compliance of clause 49 of the listing agreement has undoubtedly raised the standard of Corporate Governance in India. However, regulatory directives and enforcement wil l not be sufficient to create a best in class transparent organisation. The corporate governance philosophy is based on the following principles: * Satisfy the spirit of the law and not just the letter of the law. Be transparent and maintain a high degree of disclosure levels. * Continuously innovate and adapt the Corporate Governance * Practices so as to meet new demands and tap new opportunities. * Comply with the laws in all the countries in which we operate. * Management is the trustee of the shareholders’ capital and not the owner. CORPORATE SOCIAL RESPONSIBILITY The CSR initiative under the name Sambhav brings together the different social programs that Gitanjali has been associated with over the years. These are programs in the fields of education, health, providing employment to PWDs. It focuses on integrating all of them and other different initiatives like Saksham, Saakshar, Sujyot and Sneh. The focus will be both on strengthening the existing programs as well as developing new ones too. It further aims to take this CSR initiative to new heights and is in the process of channelizing all their strengths and efforts to form a strong CSR team within the company to encourage and promote a wide range of social welfare activities internally or in partnering with other NGOs and government bodies. SOME ACTIVITIES UNDERTAKEN BY GITANJALI Rose day celebration for cancer patients | Gitanjali Gems Limited supported Cancer Patients Aid Association (CPAA)   in its celebration of  The rose day  Ã¢â‚¬â€œ a  day to make a difference in the lives of cancer patients. CPAA reaches out to cancer patients through medicines, counselling, research and rehabilitation. | | * Special rakhies by special children Gitanjali gems continues to support to ADAPT (spastic society) by orga nizing a sale booth of their products at Gitanjali gems Marol office  on 11th Aug 2011,  on the eve of Rakshabandhan. We repeated the achievements of last year by motivating and appreciating the efforts of these specially abled children by having sale of products close to  Rs 10000/-. The staff was extremely enthusiastic and extended their support through 100% participation. * Presentation on ‘Diabetes awareness and healthy life style’ Today Diabetes is one of the fastest growing lifestyle disease, with Indians   being the largest population affected by it. A presentation on diabetes awareness and healthy life style was organized on 25th July 2011 at  Transmission house ,Marol , for the benefit of the employees . It indicated the causes , symptoms ,prevention and cure for diabetes. A full house attendance showed the concern most of us have about this booming disease. | * Lecture on ‘The damaging effects of tobacco’ at Gemplus| | | As a part of SAMBHAV , CSR initiative ,  Ã¢â‚¬Å"The Damaging Effects of Tobacco† were highlighted at a presentation made under the Tobacco Intervention Initiative (TII) program of the Indian Dental Association (IDA) for the staff and workers of   Gem plus ,Gitanjali Gems, Mumbai   on 11th June 2011 by Miss. Tejal Rajgor. Tobacco leads to heart and blood vessel disease, heart attack, chest pain, sudden cardiac death, stroke, peripheral vascular disease (Gangrene of legs) plus it is also   responsible for cancer of various parts of the body like mouth, throat, lungs, stomach, kidney, bladder etc. Gitanjali Gem’s staff members felt that there was an urgent need for more prohibition of tobacco usage and this won’t happen until there is a public outcry, so meetings like these are designed to generate awareness in the hope of making the come community forward to request change. How to cite Jwellery Industry in India, Papers

The role of the Directors and ASIC-Free-Samples for Students

Question: Disucss about the Compnay's Insovency and also the role of the Directors and ASIC. Answer: Introduction: Legal definition of insolvency states that company is considered insolvent, when total of the liabilities of the company exceeds the total of the assets of the company. According to section 95A of the Corporation Act 2001, person or organization is solvent if it is possible for that person to pay all the debts at the time when they become due and payable, and person or organization is insolvent if they are not solvent (Corporation Act, 2001). This paper contains detailed discussion on companys insolvency, and also the role of the directors and ASIC in insolvency process. In this statistics related to insolvency of the Australian companies is stated and observance in this context. Subsequently, this paper states the conclusion. Discussion: As stated above, insolvency is the situation when organization is not able to pay its debts and assets of the organization are not enough to pay its liabilities. This can be understood through case law Bell Group Ltd (in liquidation) v Westpac Banking Corporation Others. In this case, court held that primary method for determining the solvency of the organization is the determination of the companys asset and liabilities. Following are some important aspects of insolvency: Signs which reflect companys insolvency: ASIC issues regulatory guide 217 in 2010, which named as Duty to Prevent Insolvent Trading: Guide for Directors. As per this guide following are some signs of the company insolvency which must be determined by the directors of the company at former stage: Company incurred loss in trading, and also face issues related to cash flow. It becomes difficult for the organization to sell their stock or raising funds. With the current financier, organization is negotiating the new limit. Legal actions against the company are commenced by the creditors and other stakeholders of the company. Reasonable measures considered by Board of directors: Directors of the company are under obligation to ensure that reasonable measures have been taken if any above stated sign reflect the insolvency. Some of these measures are stated below: Any further debt must not be incurred by the directors of the company unless any chances of restructuring and refinancing of the business occurred, and funding in the form of the equity is available for recapitalizing the business operations. Directors of the company must appoint voluntary liquidators and administrators. Directors are under obligation to ensure that interest of the creditors and other stakeholders of the company are protected in case company become insolvent or there is any risk related to insolvency. Directors must not engage in any trading with outsiders, if company becomes insolvent or there is any risk related to insolvency. Directors liability in case of insolvency: Various duties are imposed on directors in case company becomes insolvent, such as duty to prevent any trading in the company when company becomes insolvent. This duty is imposed by Section 588G of the corporation Act 2001. As per this section, directors of the company are under obligation to prevent the insolvent trading, and this section is applicable on the directors of the company and on those also who were only acting as the director of the company but in actual they are not appointed as director of the company. This can be understood through case law Hawkins v Bank of China. In this case, Court stated that the list of deemed debts and specified the situation when they occurred. Section 588G further stated that duty is imposed on director of the company from preventing the company to incurred further debt in case: Organization is insolvent at that time when debt is incurred. There is risk of insolvency on organization, if organization incurred that debt or series of debts which includes that debt also. Sufficient grounds are present which reflect the insolvency of the company in case debt is incurred by the company. This can be understood through case law Kenna Brown Pty Ltd v Kenna. In this case Court stated that objective assessment must be conducted by the directors for determining the insolvency. Contravention under this section is divided into two categories that are: In case directors of the company fail to compile section 588G which means director, fails to prevent the debt incurred by the company in that situation also when sufficient grounds are present and reflect that there is risk of insolvency, then such directors are liable under civil provision. Directors of the company held liable under criminal provisions if director fails to prevent the company from incurring debt because of any dishonest reason, and sufficient grounds are present which clearly reflect that company is already insolvent or becomes insolvent (Corporation Act, 2001). In case a director of the company fails to compile with Section 588G then following are the consequences of such failure (AICD, n.d.): Compensation order can be passed by the Court, and this order states that director is held liable towards the company at personal level to pay the compensation, and amount of compensation is the amount of loss suffered by the company (Section 588J and 1317H). Section 1317G states that pecuniary order can be passed by the Court and such order includes the amount up to $200000. This can be understood through case law ASIC v Plymin (No 1). Disqualification order under section 206 of the Act can be passed by the Court, and as per this order director of the company is disqualified to manage the company. If director of the company is held liable under criminal provisions then Court can order fine up to 2,000 penalty units or imprisonment for five years (Corporation Act, 2001). Alternative ways: In case reasonable grounds are present which reflects the risk of insolvency then directors can choose different ways and some of these ways are stated below: Professional advice can be sought by the directors of the company. Invitation can be send to the secured creditors of the company for the purpose of appointing receiver. It is the duty of director to cease the trading, and prevent the company in incurring further debt. Administrator can be appointed by the board under section 436A of the Act (Corporation Act, 2001). Difference between voluntary and involuntary intervention: Voluntary intervention is the method through which company can goes under reorganization. As per this method, external administrator is appointed by the directors and secured creditors of the company. Administrator appointed under this method is known as voluntary administrator. Voluntary administrator conduct investigation related to the affairs of the company and after this investigation he/she will send report to the creditors. This report states the clear views of the administrator on matter whether creditors choose deed of the company arrangement, liquidation, and returned the company to the directors. Voluntary administrator was appointed by the director when directors have sufficient ground to believe that there was risk of insolvency or company was already insolvent. Involuntary intervention is the method under which charge holder, liquidator, or provisional liquidator appoints the administrator. The main difference between two methods is stated below: Under voluntary administrator directors of the company are allowed to exercise similar control, but in involuntary method there is no control exercised by the directors of the company. Voluntary administration provides option to the company to restructure their business, but involuntary administration is considered as the level when there is no hope of business restructuring (Quilan, 2005). Other option: Members winding up is the option available to the company in case company does not want to choose the creditors winding up option. As per this option, special resolution is passed by the members of the company for the purpose of appointing the liquidator (ASIC, n.d.). Section 495 of the Act states that, company appointed liquidator by passing special resolution in the general meeting. Liquidator is appointed for winding up all the operations and affairs of the company and to discharge all the liabilities of the company. Section 495 of the Act further states that if any vacancy occurred in the office of the liquidator because of the death, resignation, and any other matter then members reappoint the liquidator in the general meeting for the purpose of filling the vacancy. For this section general meeting is held by the contributory or in case there are two or more liquidators then by those liquidators (Corporation Act, 2001). Insolvency Statistics in Australia: ASIC issued statistics of the last quarter of the 2016/17, and it states the increased % of the companies which opt for external administration and that increase is up to 28%. Results also show number of States in which liquidation % is increased such as in Western Australia up to 127.9%, Victoria up to 34.7% and New South Wales up to 13.1%, , and on national level it increased up to 25%. Percentage related to those companies under which administrator are appointed by the directors of the company is increase up to 35.9%, but in Victoria this rate is goes up to 57.8%, Queensland up to 28.6% and New South Wales up to 14.4% (ASIC, n.d.). Insolvency issue: In Australia, insolvency law does not considered long term gains of the companies, and it also fails in considering the assets, goodwill, competitiveness, and reasons of premature closure and liquidation. Law related to insolvency does not state any provisions which provide emphasis on restructuring of the business and any other method through which company return to profitability and protect the interest of creditors. There are many other countries in which focus is shifted on restructuring of business and not on the liquidation. There are some recommendations which can be included in the insolvency law of Australia: Law must focus on the long term plannings while decided liquidation. Protection of employees and workers at the time of liquidation of the company. Provisions which provide various options through which funds for restructuring the business can be raised (ASIC, n.d.). ASIC ROLE: Company can deregistered by ASIC, if sufficient grounds are present which state that trading is ceased by the company and fees and penalties are overdue, and these sufficient grounds are stated below: If company fails to pay its annual fee within the time period of 12 months from the date on which fee becomes due. Compliance notice is issued to the company, and company fails to submit the response of that notice and also the related documents within 18 months. Processing related to winding up is initiated and no liquidator is appointed (ASIC, n.d.). Observation: Various legislations and case laws clear the picture that provisions of corporate act 2001 related to insolvency mainly give emphasis on companys liquidation. These provisions do not consider the restructuring of the business or any other measures through which liquidation can be avoided. imposed on companies which put extra pressure on companies and also reduce the ability of company to discharge the debts of the creditor. In Ascot Community Sports Club Incorporated (in liquidation), court stated that liquidator has right to claim their cost from the company, and company was liable to pay the cost. Court further stated if liquidator incurred any other cost then also company was liable to pay it. Conclusion: After considering the above facts it is clear that directors play very important role in insolvency procedure, and it is completely in the hands of directors to ensure the interest of the creditors and other stakeholders of the company. In this paper all the issues and their measures related to insolvency are discussed and these issues and measures are supported by the legislations and case laws References: AICD. Insolvent trading. Available at: https://aicd.companydirectors.com.au/~/media/cd2/resources/director-resources/director-tools/pdf/05446-6-3-duties-directors_insolvent-trading_a4-web.ashx. Accessed on 21st August 2017. Ascot Community Sports Club Incorporated (in liquidation) [2014] QSC 258. ASIC v Plymin (No 1) (2003) 175 FLR 124; 21 ACLC 700; 46, ACSR 126; [2003] VSC 123 at 777 (ACLC). ASIC, ( 2010). Duty to prevent insolvent trading: Guide for directors. Available at: https://download.asic.gov.au/media/1241384/rg217-29july2010.pdf. Accessed on 21st August 2017. ASIC. ASIC initiated deregistration of company. Available at: https://www.asic.gov.au/for-business/closing-your-company/deregistration/asic-initiated-deregistration-of-company/#ReasonsforDereg. Accessed on 21st August 2017. ASIC. Corporate insolvencies: June quarter 2017. Available at: https://download.asic.gov.au/media/4410590/201706-june-qtr-2017-summary-analysis.pdf. Accessed on 21st August 2017. ASIC. Types of Insolvency. Available at: https://asic.gov.au/regulatory-resources/insolvency/types-of-insolvency/. Accessed on 21st August 2017. Bell Group Ltd (in liq) v Westpac Banking Corporation Ors [No 9] [2008] WASC 239 (Bell). Corporation Act 2001- Section 1317G. Corporation Act 2001- Section 1317H. Corporation Act 2001- Section 206. Corporation Act 2001- Section 436A. Corporation Act 2001- Section 495. Corporation Act 2001- Section 588G. Corporation Act 2001- Section 588J. Corporation Act 2001- Section 95. Gupta, N. Insolvency laws in Australia. Available at: https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook45p/InsolvencyLaws. Accessed on 21st August 2017. Hawkins v Bank of China (1992) 26 NSWLR 562; 10 ACLC, 588; 7 ACSR 349 at 572 (NSWLR). Kenna Brown Pty Ltd v Kenna (1999) 17 ACLC 1,183; 32, ACSR 432; [1999] NSWSC 533 [CL s 588G 1994]. Long v. Home Health Services, 43 Wn. App. 729, 734 (1986). Quinlan, M. (2005). Formal Reorganization in Australia. Available at: https://www.allens.com.au/pubs/pdf/insol/pap15mar05.pdf. Accessed on 21st August 2017.