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Time of India
9 hours ago
- Business
- Time of India
Divorce in the air, marriages for the rich built on ‘trust'
Mumbai: With prenuptial agreements still not legally enforceable in India, the rich are finding new ways to shield themselves from the financial blow of a marital breakdown. The 'private family discretionary trust ' is one such arrangement being repurposed to meet this need. Explore courses from Top Institutes in Select a Course Category others Artificial Intelligence Degree MBA Technology Cybersecurity Public Policy Product Management CXO Design Thinking healthcare Data Science Others Data Science Project Management Management Operations Management Digital Marketing Finance Data Analytics PGDM Healthcare MCA Leadership Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details A Delhi-based garment exporter, whose son's marriage soured very soon, said, 'Thanks to the trust we'd set up before the wedding, his business interest and family home remained untouched.' Similarly, a leading jeweller in Mumbai placed all real estate assets in a discretionary trust, naming his son as beneficiary. When the son filed for divorce, the wife could lay no claim on the properties she once thought she'd co-own. 'By definition, a trust protects the interest of the beneficiaries through the trustee ' said Rajat Dutta, founder of Inheritance Needs Services. 'In case a borrower defaults in financial obligations to lenders, then the assets in the trust cannot be attached by the lender, though the borrower is one of the trustees and also one of the beneficiaries,' said Dutta. The trend, once limited to the ultra-high net worth individuals in India, is now spreading to the upper-middle-class, as people look to protect their earnings and save the family from litigation, especially in case of a divorce. The trust also protects women. According to a lawyer, a woman who often had to deal with her husband's irrational demand for financial support, was able to protect her financial assets as they were in the trust which her father had created for his daughter and her children. According to legal experts, this arrangement is also being adopted by traditional, business-oriented families which want to protect their enterprises, and parents of non-resident Indians who are in mixed marriages. SHIELDING SONS, SIDE-STEPPING BIAS Ashvini Chopra, head of family office solutions at Avendus Wealth Management, said many families are setting up trusts to shield the males from financial exposure after marriage, more so if it's not within the same caste and religion. Trusts, structured prudently, allow families to ensure that the male child technically doesn't own any asset and is just a beneficiary, thereby reducing the scope of a claim in case of a divorce. 'Indian parents being possessive of family wealth wish to protect inherited wealth and de -risk future perceived risks of breakups' said Dutta of Inheritance Needs Services. Experts said that trust deeds are now being drafted keeping potential divorce in mind—a shift from their traditional inheritance-focused intent. In some recent highprofile divorces, judgments have varied widely, largely because there's no clear legislative framework—like a prenup—to guide settlements. Citing a case, a Mumbai-based family lawyer said, "A family business was nearly halved after a divorce settlement. Had the assets been placed in a properly drafted discretionary trust, they would have been out of legal reach.' A Mumbai-based estate planner spoke of a wealthy retired bureaucrat from Delhi who, on learning that his son wished to marry a divorcee with a girl child, put his entire wealth in a trust. There's also a future-facing angle to this trust trend. Economic Times WhatsApp channel )
Time of India
2 days ago
- Politics
- Time of India
Germany deports 81 Afghans, second time since Taliban's return
BERLIN: Germany deported dozens of Afghan men to their homeland on Friday, the second time it has done so since the Taliban returned to power and the first since a new government. German authorities said a flight took off Friday morning carrying 81 Afghans , all of them men who had had asylum applications rejected. Chancellor Friedrich Merz said the deportation was carried out with the help of Qatar and preceded by weeks of negotiations. He also said there were contacts with Afghanistan, but didn't elaborate. More than 10 months ago. Explore courses from Top Institutes in Select a Course Category others Management Project Management Data Analytics Data Science Product Management MCA Leadership CXO Operations Management MBA Finance healthcare Design Thinking Data Science Cybersecurity Others Public Policy Digital Marketing Artificial Intelligence Degree Technology Healthcare PGDM Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details Germany's previous government deported Afghan nationals to their homeland for the first time since the Taliban returned to power in 2021.
Time of India
2 days ago
- Entertainment
- Time of India
Trisha Yearwood makes exciting announcement on Tiktok ahead of her new album 'The Mirror' release
Fans of iconic county singer Trisha Yearwood can now get a chance to meet her and try her newest food concept this weekend as she is gearing up to launch a brand concession stand at the BOK Center. Trisha Yearwood newest album 'The Mirror' is set to release on July 18 and she is preparing for a first in her career as she shares fresh music with the world. On Wednesday, Trisha Yearwood made a surprising announcement to her fans who follow her on TikTok: She's going live on the app for the very first time, and it's all happening from a really special place. Explore courses from Top Institutes in Select a Course Category others Healthcare Data Science PGDM CXO Technology MCA Digital Marketing Data Science Degree Finance Operations Management Product Management Others Management healthcare Data Analytics MBA Public Policy Design Thinking Artificial Intelligence Leadership Project Management Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details In the video, a very casual Yearwood is seen hanging out backstage as she shared the news with her followers after wrapping up a day of rehearsing. "I'm so excited The Mirror is finally coming out," she says in the video. "We're gonna be at Trisha's Kitchen on Sunday, July 20 at 12:30. We're gonna go live on TikTok. Come see us!" ALSO READ: Stimulus payments worth $300 to $1,700 to hit bank accounts of Americans in days. Check eligibility and key dates In the comments, fans shared that they were just as excited as Yearwood is for this milestone in her career. "Yee Haw! Let's do this!" one fan wrote, while another commented, "Soooo absolutely excited for you! Get it, TY!!!" Live Events The Mirror is Yearwood's first new album since 2019, when she released Every Girl , so this one has been anticipated by fans for a very long time. Meanwhile, Garth Brooks who has been been married to Yearwood since 2005—couldn't help but gush over his wife in a new social media. Singing Trisha Yearwood's praises in an Instagram post, Brooks, 63, wrote, "I've never been more excited for you," while adding to his wifey that she has "outdone" herself with her latest project.
Time of India
2 days ago
- Business
- Time of India
Earnings growth may be tepid next 2 years but equities offer better returns than gold: Siddharth Bothra
Siddharth Bothra , Fund Manager, Ambit Asset Management , says gold and silver are viewed differently from other commodities due to gold's historical role as a hedge against market uncertainty. However, gold has outperformed expectations, even surpassing some top-performing markets over the long term. While central banks are increasing gold reserves, suggesting concerns about the global financial sector, equities may offer better returns than gold or silver moving forward. What is your view on the market? Siddharth Bothra: Our view on the market is that if you look at the next two years, the earnings growth looks a bit tepid, more in the early double digits, and valuations across the market – be it largecaps, midcaps, or smallcaps are above their long-term averages. So, the return outlook for the next two-three years looks muted and as this market is coming on the back of a couple of very strong years, going forward it is going to be very stock specific and that is one advantage that India has. Explore courses from Top Institutes in Select a Course Category others Data Science Operations Management Public Policy Finance Data Analytics Technology Artificial Intelligence Management PGDM Others Healthcare Digital Marketing MBA MCA Design Thinking Project Management Leadership Cybersecurity Degree healthcare Product Management CXO Data Science Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details There are good opportunities across various sectors. We had a very easy time over the last three-four years, when money-making was relatively easy in the stock market and the market was very broad-based. Our house view is that over the next two-three years, the market is going to move from a very broad-based market to a more concentrated one, a move more towards quality, more towards stock specific. So, it is going to be a difficult market and we need to be very stock specific to earn more than the outlook we have on the returns given the muted earnings growth and valuations being high. What are your sector takes and your sector approach? Looking at the churn going on sectorally, which are the laggards according to you and which are the ones which you would bank on for maybe two to three quarters now? I know you will be talking about the long-term as far as your strategy is concerned, but there has to be some sectors you are betting really high on and some that are out of flavour and trend. Siddharth Bothra: While the broader outlook remains muted, there are not many sector-specific standouts. but the sectors we would look forward to, include the consumption sector. It has not done that well over the last one-two years. Now, there seems to be many green shoots which suggest that this sector could come back whether it be the moves from the government side on the tax side or whether it be the upcoming pay commission opportunity and all these things suggest that the consumption theme could be something to look at with a one- to two-year perspective. The other segment where we would be positive on is industrials. We believe that while private capex could still be a couple of quarters away, in the industrial segment, there are a lot of stock specific opportunities. Many companies seem to be benefiting in a big way from the advent of AI by the fact that increasing use of software and technology is getting embedded in most of the industries. So, companies which have technological advantage, which are dominant in those particular segments, could see opportunities there. Live Events You Might Also Like: Mihir Vora on where to look for opportunities in the broader market So, consumption, industrials, and the broader BFSI still looks fairly attractive. These are the two-three sectors other than pharma where we like some of the domestic plays. So, these are the three-four sectors we would be focusing on. What is your view on the real estate sector? It was the top sectoral gainer yesterday. How do you see this sector because it is once again linked to the economy? Siddharth Bothra: Real estate is a rate sensitive sector and stands to benefit from the recent rate cuts and also the loosening liquidity environment that we are seeing. In that sense, real estate is not a sector where you can take a very long-term view, but within that, I believe it looks attractive and certain things have also changed in real estate sectors over the last few years. Increasingly consolidations are happening, some of the companies have now become more broad-based like earlier the value was coming more from future growth and now there are some good opportunities where valuations could be justified by cash flows. This is a sector where one needs to be still very stock specific and the view has to be more short- to medium-term because this is still not a sector where I would take a very long-term call. But again, this is a sector where one needs to be very stock specific and within that, there are some stocks which stand out and even we have looked at them though we do not own any of them. What is your view on gold and silver?Considering the rally in these metals, one cannot think about not having them in the portfolio and for that reason you need to have at least 10% to 15% exposure in gold and silver. Is this the time for one to go heavy in gold or silver? At a portfolio level, you have always guided in favour of diversification. Siddharth Bothra: Gold and silver I would look separately from other commodities because overall outlook on the commodity including crude is weak in a way but gold has been a complete contrast. Right from the beginning of the career we have always thought of gold as a hedge. So whenever markets looked very upbeat or when markets were weak, you would look for gold or silver as a contrary bet. You Might Also Like: Buy on dips; expect a 1,000-point rally over next 30-45 days: Rahul Sharma But in the last few years, it has almost turned out to be the other way, like everything is going up. In fact, if you look at gold on a 20-25-year basis, it has even beaten some of the best markets. So, I am a bit baffled here because the inherent thinking on gold other than the fact that now more and more central banks are looking to increase their hedge and have more gold, which in a way shows lesser confidence in the global financial sector, is a very broad theme. But other than that, the view on gold has always been that this is an asset class which does not produce cash flows and hence for investors, other than as some kind of a diversification, should be avoided. Other than that broad view that central banks are now increasingly looking to add more and more gold, I would believe that you would probably make better returns in equity from here on rather than being in gold or even silver.
Time of India
3 days ago
- Business
- Time of India
'Dad passed away a week ago, but...': Techie denied WFH after father's death; Manager's "insensitive" reply sparks outrage on Reddit
A post by an Indian tech professional has stirred intense emotions and debate on Reddit after they revealed how their request to work from home (WFH) following the death of their father was denied. Despite still being in the midst of performing the post-death rituals, the employee was reportedly told, in no uncertain terms, to return to the office. The employee, who works for a service-based IT firm and is currently assigned to a client project, took to Reddit to share the painful experience, highlighting how corporate insensitivity during personal tragedy remains a harsh reality for many. Explore courses from Top Institutes in Select a Course Category others MBA CXO Healthcare Finance Technology Product Management Data Science Degree Others PGDM healthcare MCA Cybersecurity Data Science Data Analytics Project Management Digital Marketing Artificial Intelligence Design Thinking Management Leadership Public Policy Operations Management Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details 'I'm still doing rituals, but they want me back' The tech worker shared that they had already taken five days of leave and an additional week of remote work while their father was hospitalised. After his passing, they sought an extended WFH arrangement for one month, to be able to stay with their grieving mother who now lives alone in their hometown. In the post, they wrote, 'My dad passed away one week ago. I took 5 days' leave and one week of WFH as my dad was hospitalised earlier. Currently doing the ritual events.' But the response they received from the client manager was far from empathetic. Live Events 'He just said 'Finish the rituals and please plan to proceed ahead'. Meaning, 'come back to the office'. I asked for a call, he didn't respond.' What added to their frustration was the lack of support from their own company manager, who, according to them, chose not to intervene or advocate for flexibility on their behalf. Reddit comes together in support The post rapidly gained traction on Reddit, with users offering their sympathy, outrage, and even professional help. A moderator of the subreddit commented, 'Take the holiday, whatever number of days you require. If they fire, terminate, or take any action against you, we (mod team) are here to help. Your resume will get visibility on the subreddit, our Discord server, and through our HR network. You don't have to worry about money.' They also pointed out the lack of bereavement leave laws in India, calling it a shame given the deeply ritualistic mourning practices across Indian cultures. One user wrote, 'Your mum needs you now. Forget these corporate jerks. No one should have to make this choice.' Another added, 'I think WFH has become a luxury in India. Take the leave. Complete the rituals. These companies will never change.' The story has ignited fresh conversations around employee wellbeing, bereavement policies, and the human cost of rigid corporate cultures. In a country where death is marked with weeks of rituals and emotional upheaval, the absence of enforceable compassionate leave frameworks leaves employees relying solely on the goodwill of their managers, or lack thereof.
