Latest news with #JPC
India Gazette
3 days ago
- Politics
- India Gazette
"One Nation, One Election will speed up development," says Haryana CM Saini
Gurugram (Haryana) [India], June 1 (ANI): Haryana Chief Minister Nayab Singh Saini on Sunday said the 'One Nation, One Election' initiative would help speed up India's development and reduce election-related expenses. Speaking at a marathon organised to support the proposal, CM Saini stated frequent elections stall growth and disrupt momentum. CM Saini added that the initiative reflects Prime Minister Modi's vision to streamline governance and strengthen democratic participation across the country. The marathon, held in Gurugram, aimed to promote the idea of simultaneous elections. Additionally, Chief Minister Saini said the event symbolised more than just a race, it was a public expression of a collective resolution for national change. 'The main objective of today's race is to dedicate it to the important idea of 'One Nation, One Election'. This is not just a marathon but an important step towards change, it is a resolution, a movement,' the Chief Minister declared. He further added, 'Today's event will give impetus to the idea of one nation one election. This idea is not just an issue of administrative convenience. It is an effort to further strengthen the democratic consciousness of India...' Highlighting the disruption caused by frequent elections, CM Saini pointed out that the state of Haryana had entered election mode on April 13, slowing down the pace of governance and development. 'In Haryana, we are in election mode from 13 April 2024. The pace of development stops. The Prime Minister's vision is that we have to become a developed nation, so one nation one election will play an important role in that and the country will move forward at a fast pace...,' CM said. CM Saini further added, 'This will reduce expenses a lot and the country will move towards a developed nation. We all should support this call.' The Constitution Amendment Bill on 'One Nation, One Election,' currently under review by the JPC, proposes aligning the election cycles of the Lok Sabha and state assemblies. (ANI)
Associated Press
3 days ago
- Business
- Associated Press
Hibiki Path Advisors Launch a Public Campaign as the Largest Shareholder of JAPAN PURE CHEMICAL CO., LTD.
TOKYO--(BUSINESS WIRE)--Jun 1, 2025-- Hibiki Path Advisors ('we', 'us', 'our') has decided to launch a public campaign, including shareholder proposals, directed at one of our portfolio companies, JAPAN PURE CHEMICAL CO., LTD. (Securities Code: 4973) (hereinafter referred to as 'the Company', 'JPC'), in the lead-up to its 54 th Annual General Meeting of Shareholders scheduled for 20 th June 2025. As the largest shareholder of the Company, our aim with this campaign is to protect and enhance the common interests of all shareholders. *1 For the rationale behind why items 1. and 2. remain under consideration rather than being finalized, please refer to the attached statement of purpose. For further details regarding the public campaign, please refer to the statement of purpose via the link below: ' Regarding the Public Campaign as the largest Shareholder of JAPAN PURE CHEMICAL CO., LTD. ' We have consistently engaged with the Company over several years earnestly, with our sole intention to guide the Company to take more proactive measures to maximize corporate value. Despite our longstanding, friendly, and earnest proposals since 2018 and the fact that we are currently the largest shareholder holding approximately 18% of the shares (excluding treasury shares) as of the end of March 2025, the Company has completely disregarded our fair requests and abandoned efforts to bridge the differences in opinion. As a result, we have reached the decision to launch a campaign including the submission of shareholder proposals with the aim of protecting the collective interests of all shareholders. As a premise of this campaign, it is a fact that Board of Directors have the fiduciary duty to act in the best interest of the Company and the shareholders. Despite that, JPC board has been avoiding earnest engagement from the requests of general shareholders, including us as the largest shareholder and this continued management practices neglect their fiduciary duties as well as true advancement of corporate value. In our view, the primary cause of this governance failure lies in two factors. First is the continued dominance of Director/Senior Advisor Masao Watanabe (hereinafter referred to as 'Watanabe'), who has retained effective control of JPC for approximately 25 years since the Company's MBO, despite completely failing to generate corporate value during his term. Second is the uniquely structured board of directors (including independent directors), where repeated appointments from limited corporate groups have created conditions that hinder effective oversight. Despite such governance failure, we find it utterly disappointing for the JPC Board of Directors' intention to propose again for the reappointment of Watanabe in this year's General Meeting of Shareholders but additionally establish an Audit and Supervisory Committee structure that appears to significantly delegate authority to internal executive directors which appear to potentially further strengthen Watanabe's de facto control. The company has tried to persist with a board composition that appears to be a continuation of the existing structure, which demonstrates not only a complete lack of reflection on the prolonged destruction of corporate value but also a troubling unwillingness to listen to the legitimate voices of shareholders. Under the banner of a so-called 'second founder,' the Company has effectively deified Watanabe, thereby forfeiting a critical opportunity for fundamental transformation. We observe that there is serious lacking in fiduciary duty of the Company's Board of Directors as the Company's prolonged underperformance while continuing to implement piecemeal measures and deferring fundamental decisions. Not only did the Company Board of Directors fail to uphold common interests of shareholders, they also undermined the Company's competitive advantage and value creation. Such inaction ultimately harms all stakeholders, including customer relationships and the livelihoods of employees committed to the Company. We respectfully ask our fellow shareholders to support our proposal to enhance and maximize the common interests of all shareholders. Furthermore, we urge you, as fellow shareholders, to carefully consider whether the company's proposals – including the amendment of the Articles of Incorporation to transition to a company with an Audit and Supervisory Committee, and the election of directors, truly contribute to the fundamental enhancement of the company's corporate value, and so we urge you to exercise your shareholder rights with sound and thoughtful judgment. (For Reference) 21/May/2025 – Submission of a shareholder proposal to JAPAN PURE CHEMICAL CO., LTD. as its largest shareholderSincerely yours, View source version on CONTACT: Yuya Shimizu Representative Director and Chief Investment Officer Hibiki Path Advisors [email protected] KEYWORD: JAPAN ASIA PACIFIC INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: Hibiki Path Advisors Copyright Business Wire 2025. PUB: 06/01/2025 03:00 AM/DISC: 06/01/2025 03:01 AM
Business Wire
3 days ago
- Business
- Business Wire
Hibiki Path Advisors Launch a Public Campaign as the Largest Shareholder of JAPAN PURE CHEMICAL CO., LTD.
TOKYO--(BUSINESS WIRE)--Hibiki Path Advisors ('we', 'us', 'our') has decided to launch a public campaign, including shareholder proposals, directed at one of our portfolio companies, JAPAN PURE CHEMICAL CO., LTD. (Securities Code: 4973) (hereinafter referred to as 'the Company', 'JPC'), in the lead-up to its 54 th Annual General Meeting of Shareholders scheduled for 20 th June 2025. As the largest shareholder of the Company, our aim with this campaign is to protect and enhance the common interests of all shareholders. Opposition to the reappointment of Director and Honorary Advisor Masao Watanabe to the Board W ith regard to the other director nominees, we plan to oppose the election of eight individuals (including substitute candidates), excluding Mr. Tomoyuki Kojima and Ms. Momoe Kuromatsu (*1) Plan to oppose the transition to a company with an Audit and Supervisory Committee (*1) S hareholder proposal (Item 10): Enhancement of stock-based compensation for directors (excluding outside directors) S hareholder proposal (Item 11): Partial amendment to the Articles of Incorporation regarding the decision-making body for matters such as surplus dividends S hareholder proposal (Items 12 and 13): Strengthening of shareholder returns to improve ROE (including share buybacks and increased dividends) *1 For the rationale behind why items 1. and 2. remain under consideration rather than being finalized, please refer to the attached statement of purpose. For further details regarding the public campaign, please refer to the statement of purpose via the link below: " Regarding the Public Campaign as the largest Shareholder of JAPAN PURE CHEMICAL CO., LTD." We have consistently engaged with the Company over several years earnestly, with our sole intention to guide the Company to take more proactive measures to maximize corporate value. Despite our longstanding, friendly, and earnest proposals since 2018 and the fact that we are currently the largest shareholder holding approximately 18% of the shares (excluding treasury shares) as of the end of March 2025, the Company has completely disregarded our fair requests and abandoned efforts to bridge the differences in opinion. As a result, we have reached the decision to launch a campaign including the submission of shareholder proposals with the aim of protecting the collective interests of all shareholders. As a premise of this campaign, it is a fact that Board of Directors have the fiduciary duty to act in the best interest of the Company and the shareholders. Despite that, JPC board has been avoiding earnest engagement from the requests of general shareholders, including us as the largest shareholder and this continued management practices neglect their fiduciary duties as well as true advancement of corporate value. In our view, the primary cause of this governance failure lies in two factors. First is the continued dominance of Director/Senior Advisor Masao Watanabe (hereinafter referred to as 'Watanabe'), who has retained effective control of JPC for approximately 25 years since the Company's MBO, despite completely failing to generate corporate value during his term. Second is the uniquely structured board of directors (including independent directors), where repeated appointments from limited corporate groups have created conditions that hinder effective oversight. Despite such governance failure, we find it utterly disappointing for the JPC Board of Directors' intention to propose again for the reappointment of Watanabe in this year's General Meeting of Shareholders but additionally establish an Audit and Supervisory Committee structure that appears to significantly delegate authority to internal executive directors which appear to potentially further strengthen Watanabe's de facto control. The company has tried to persist with a board composition that appears to be a continuation of the existing structure, which demonstrates not only a complete lack of reflection on the prolonged destruction of corporate value but also a troubling unwillingness to listen to the legitimate voices of shareholders. Under the banner of a so-called "second founder," the Company has effectively deified Watanabe, thereby forfeiting a critical opportunity for fundamental transformation. We observe that there is serious lacking in fiduciary duty of the Company's Board of Directors as the Company's prolonged underperformance while continuing to implement piecemeal measures and deferring fundamental decisions. Not only did the Company Board of Directors fail to uphold common interests of shareholders, they also undermined the Company's competitive advantage and value creation. Such inaction ultimately harms all stakeholders, including customer relationships and the livelihoods of employees committed to the Company. We respectfully ask our fellow shareholders to support our proposal to enhance and maximize the common interests of all shareholders. Furthermore, we urge you, as fellow shareholders, to carefully consider whether the company's proposals – including the amendment of the Articles of Incorporation to transition to a company with an Audit and Supervisory Committee, and the election of directors, truly contribute to the fundamental enhancement of the company's corporate value, and so we urge you to exercise your shareholder rights with sound and thoughtful judgment. Note: This post does not constitute a solicitation for an offer to acquire or recommend the purchase or sale of specific securities, or advice on investment, legal, tax, accounting, or any other matters. In the event of any discrepancy or conflict between the English and Japanese versions, unless otherwise noted, the meaning of the Japanese language version shall prevail unless otherwise expressly indicated. Sincerely yours,
India Gazette
22-05-2025
- Politics
- India Gazette
JPC Chairman PP Choudhary holds press conference over two-day meeting of key amendment bills
Dehradun (Uttarakhand) [India], May 22 (ANI): Joint Parliamentary Committee (JPC) Chairman PP Choudhary held a press conference in Dehradun on Wednesday. This comes in connection with the two-day meeting of the Joint Parliamentary Committee (JPC) on the Constitution (129th Amendment) Bill, 2024, and the Union Territory Laws (Amendment) Bill, 2024, held from May 21-22. Earlier today, Uttarakhand Chief Minister Pushkar Singh Dhami participated in a dialogue program with the Joint Parliamentary Committee on the topic 'One Nation, One Election' at a hotel on Mussoorie Road. He welcomed and greeted the Chairman of the Joint Parliamentary Committee, PP Chaudhary and all the committee members. The Chief Minister said that 'One Nation One Election' is an important initiative towards making our democracy more strong, effective and inclusive. CM Dhami said, 'Our election system has been effective and strong despite its diversity. However, because elections are held at different times, the code of conduct is imposed repeatedly, which is why all the work of the states comes to a standstill. Whenever elections come, many personnel must be removed from their original work and put on election duty.' The Chief Minister said, 'For the last three years, due to the code of conduct of the Assembly, Lok Sabha, and Municipal elections in the state, the administrative machinery of the state was deprived of the process of taking policy decisions for 175 days. For a small and limited resource state, these 175 days are important from the point of view of governance.' The Chief Minister said that the state government bears the entire expenditure burden of the assembly elections, and the central government bears the expenditure burden of the Lok Sabha elections. 'If both polls are held together, the expenditure burden on the state and the central government will be equally halved. By holding both the elections together, there will be a saving of about 30 to 35 per cent in the total expenditure. This can be used in many areas of the state, such as health, education, road, water, agriculture, and women's empowerment,' said CM Dhami. The Chief Minister said that in Uttarakhand, the period from June to September is the time of rain along with the Chardham Yatra; in such a situation, many problems must be faced due to the election program. He said, 'The election process should not be scheduled during the last quarter of the financial year, from January to March. Due to the high school and intermediate board examinations in February-March, administrative resources are under additional pressure.' He said that 'One Nation, One Election' is important in hilly and difficult geographical conditions, such as in states like Uttarakhand. The Chief Minister said that it is difficult to reach polling booths in remote areas of Uttarakhand, which is why the election process takes more time and resources. He also said that it is also challenging for voters in mountainous areas to participate in elections, due to frequent elections, people's inclination towards voting decreases, and the voting percentage also decreases. (ANI)
NDTV
21-05-2025
- Politics
- NDTV
"Waqf Islamic Concept, But Not Essential Part Of Islam": Centre Defends Law
Waqf is an Islamic concept, but it is not an essential part of Islam, the Centre told the Supreme Court today while defending the Waqf Amendment Act that has sparked protests and prompted a legal challenge. "Waqf is an Islamic concept, no doubt about it, but it is not an essential part of Islam. Waqf is not a fundamental right," Solicitor General Tushar Mehta told the Centre. He said the government is the custodian of property of 140 crore citizens and it was the State's duty to ensure that public property is not diverted illegally. "A false narrative is created that they will have to provide documents, or Waqf is captured en masse." Solicitor General Mehta said Waqf is for charity and a Waqf board only discharges secular functions. Countering the petitioners' arguments against including non-Muslim members in Waqf bodies, he said, "Having 2 Non-Muslims, what will it change? It is not touching any religious activity." Earlier, Mr Mehta said a few petitioners cannot claim to represent the entire Muslim community. "We received 96 lakh representations. The JPC (Joint Parliamentary Committee) had 36 sittings. There were repeated deliberations with the JPC. They took various inputs from different Muslim bodies. Thereafter, a voluminous report was submitted, where suggestions were accepted/rejected with reasons. Then it was passed with unprecedented debate." On the subject of 'waqf by user', the Centre said that by definition, 'waqf by user' means the property belongs to someone else and you have acquired the right by continuous usage. "If there is a building which may be government property, can the government not examine whether the property belongs to the government?" Countering the petitioners' argument that the government cannot decide its own claim, Mr Mehta said the revenue authorities would decide whether it is government land, but they cannot decide the title. Chief Justice BR Gavai said, "The picture that is being painted is that once the Collector conducts an inquiry, the property will cease to be a Waqf property and once the inquiry is complete, the entire property will be taken over by the government." Mr Mehta replied that the government will have to file a title suit for ownership. On the requirement that only a practising Muslim for five years can make a Waqf donation, Mr Mehta said, "Even Shariat has Section 3 that says you have to establish yourself as a Muslim. It does not mean you have to offer namaz 5 times a day or not drink wine etc. In some cases, difficulties have arisen regarding whether properties are subject to Waqf or not." Distinguishing between Hindu endowments and Waqf, Mr Mehta said the control over Hindu endowments is "pervasive". "Hindu religious endowments are only religious. But Muslim Waqfs include many secular institutions like schools, madrasas, orphanages, dharamshalas etc," he said. Citing an example, he said the Bombay Public Trust Act governs temples in Maharashtra and its chairman can be of any religion. Mr Mehta said a Waqf has two offices - one of the Sajjadanashin, who is the spiritual head and performs religious functions, and the second is the office of Mutawalli, who isthe administrator or manager. "First is not the subject of this Waqf case, because this law has nothing to do with religious and spiritual practice." Arguing that the law does not run contrary to Article 25 of the Constitution, which guarantees freedom of religion, the Solicitor General referred to the 1956 Hindu code bill that codified Hindu personal laws. "No one asked them why Muslims were protected."
