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Press Releases

New RMS Scheme at ACTL/ICD Faridabad

Faridabad: To enable smooth and expeditious clearance of import shipments, Customs and Excise have implemented the progressive Risk Management System (RMS) at ACTL/ ICD, Faridabad from 4th June, 2010.

ACTL- ICD Faridabad is the first Customs location in India where RMS 3.1 system has been introduced. ACTL- ICD Faridabad, has added this distinction to many “firsts” as pioneers in the logistics infrastructure space. This system now enables clearance of selected consignments within minutes, on the basis of importers self assessment, requiring no examination- while not compromising the interests of revenue.

Ms. F.M. Jaswal, Director General of Systems Central Excise Commissionerate, Delhi-IV has informed that as major portion of the import goods would come under RMS, the Customs officials will be able to utilize their resources more effectively. Mr. Devendra Mishra, Commissioner of Customs & Central Excise also informed that the Importers can submit documents through electronic system. ACTL also offers e-payment facility. This new system provides a great opportunity to the Importers as well as to the Department to boost trade and revenue realisation.

Mr. Pradeep Kumar, Additional Commissioner of Customs will be the incharge of the Risk Management System at ICD, Faridabad. (Contact No. 0129-2416922).

Behind Every Successful Family Business…

An Article by Mr. Bharat Joshi
Director ACTL The Wall Street Journal - August 26, 2009

Emboldened by his last article (and egged on by readers), this author wades into the deepest waters of the family business ocean: The Role of Women in Family Businesses. In the interest of full disclosure, this author is a man who works for his family business. For those who missed the previous article,

Any study on the involvement and active participation of women in family businesses is, by nature, enormously perilous and misleading, as in a traditional family business most of the influence and the contribution of women is below the surface. Rather than hold official designations, roles here mean the various avatars women assume to accomplish tasks, inter alia: conflict resolution, team building, educator/mentor and mediator. Also, these women regularly are sounding boards for defining moral, ethical and CSR boundaries, long before it was fashionable -- or regulated.

In management jargon, they are "key stakeholders" who perform the roles of consultants, advisors, arbitrators, family counsel, independent/ non-executive board, public relations experts, and of course, executives. But, traditionally, they have been executives in non-operating and informal roles than operating ones.

But recently, several watershed events have compelled a re-examination of this traditional role of women members in family businesses, opening the way for them to participate in a more formal and structured manner.

The Family-Friendly F-Word

An Article by Mr. Bharat Joshi,
Director ACTL The Wall Street Journal - July 20, 2009

Question: What do Daimler, Heineken, Gap, IBM, Bechtel, Wal-Mart, Toyota, Novartis, News Corp, Ikea, LG Group, Michelin, Arcelor Mittal and Bombardier have in common?

Answer: They're all family businesses

Perhaps no other word stirs up a cocktail of emotions, interest and judgments in quite the same way as "Family Business." Okay, two words. Even I (note: author works for his family) catch myself going over the mandatory summing up I am often subjected to: introduction, cynicism, awe, curiosity, probing and verdict (not necessarily in that order). So perplexing and compelling is this phenomenon of the family business that with bankers, business partners, overseas visitors and among friends, we refer to this great institution simply as the "F-word."

Family businesses routinely capture the public imagination, are researched, chronicled, and even taught as specialized courses in Ivy League universities. They have become businesses within businesses: Owners of family businesses manage wealth, charities, investments, and education through professionally managed "Family Offices." These families often take time off to attend residential courses at top business schools to confront sensitive subjects such as succession planning and conflict resolution.