Reebok Files FIR Against Former Top Employees For Alleged Fraud

first_imgReebok India on Tuesday filed an FIR against its former managing director Subhinder Singh Prem and COO Vishnu Bhagat for allegedly mishandling the company’s money by indulging in fictitious sales, and setting up forged accounts over the past couple of years.  The financial irregularities were to the tune of Rs 8.7 billion (INR 870 crore).(Due to a typing error in the FIR, there were some reports which suggested it was a Rs 8700-crore scam.)  Shahim Padath, Reebok India’s financial director, lodged the complaint at the Gurgaon police against the ex-employees.The services of Prem and Bhagat were terminated following the discovery of their illicit activities in March last.  It was alleged that the two had set up four secret warehouses for storing company merchandise and eventually selling them off to ghost companies and dealers within the country.The duo, who had worked in the company for 16 years, claimed that the stored goods were defective and that they were sold to legitimate distributors, IBN Live cited a PTI report.The duo was also accused of forging bills worth Rs 860 million (INR 86 crore) on goods which were already delivered to customers in 2011 and the year before, the Economic Times said.In December 2011, it was alleged that the former executives had invoiced Rs 1.47 billion (INR 147 crore) worth of goods that were not delivered to Reebok stores.”The said products were thus stolen by accused 1 and 2 (Prem and Bhagat) and the secret warehouses mentioned above were used for storing some of such stolen products,” the FIR said.The FIR estimated the value of the “stolen” goods to be worth Rs 630 million (INR 63 crore).Reebok has also accused Singh and Bhagat of expanding the store against company instructions, through which the duo had amassed money and also operated franchise referral programs.”Almost no franchise stores were opened under the scheme despite collection of about Rs 114 crore from various investors,” the FIR said according to the report.Adidas India, which is Reebok’s integrated partner, said in a statement to IBN Live, “We are given to understand that our criminal complaint has been registered for investigation by the Indian law enforcement authorities. Please understand that we cannot provide any further details since the matter now rests with the Indian law enforcement authorities. We shall continue to cooperate with the authorities in their investigation of the matter.”last_img read more

National Bank of Pakistans exchief arrested for corruption in Bangladesh branch

first_imgFormer National Bank of Pakistan (NBP) president Syed Ali Raza. Photo: DawnPakistan’s National Accountability Bureau (NAB) on Friday arrested former National Bank of Pakistan (NBP) president Syed Ali Raza on charges of corruption in NBP’s Bangladesh branch, reports the Dawn. According to NAB officials, the Bangladeshi citizens involved in the corruption scandal include Saleemullah, Pradeep and Qazi Nizam, adds the English-language daily of Pakistan. The NAB had filed a reference against the former NBP chief and other officials for allegedly misusing their authority by granting and revising financing facilities in the NBP Bangladesh branch that caused a loss of $185 million to the national exchequer, it also says. Implementing the high court’s orders, the NAB arrested Raza and the co-accused, including Imran Butt and general manager Bangladesh Waseem Khan.During a hearing of the bail plea initiated by the former bank chief, NAB apprised the court about the losses inflicted on the national treasury by the accused.NAB further told the court that 16 individuals had been nominated in the corruption reference in all, adding that Raza and former senior executive vice president Zubair Ahmed had been granted bail earlier.last_img read more

White LEDs with superhigh luminous efficacy could satisfy all general lighting needs

first_img(PhysOrg.com) — Researchers from the Nichia Corporation in Tokushima, Japan, have set an ambitious goal: to develop a white LED that can replace every interior and exterior light bulb currently used in homes and offices. The properties of their latest white LED – a luminous flux of 1913 lumens and a luminous efficacy of 135 lumens per watt at 1 amp – enable it to emit more light than a typical 20-watt fluorescent bulb, as well as more light for a given amount of power. With these improvements, the researchers say that the new LED can replace traditional fluorescent bulbs for all general lighting applications, and also be used for automobile headlights and LCD backlighting. Design improvements All three white LEDs are based on a blue LED die, which is coated with a yellow phosphor to achieve a wider emission spectrum. When blue emission from the LED die mixes with the yellow fluorescence from the phosphor, the device produces white light. Since the red part of the emitted spectrum was initially low, the researchers also added some red phosphor to enhance the red emission and create a more balanced spectra. Overall, the researchers noted that the color reproduction in this design is the highest of all white light sources.To optimize the luminous efficacy, the researchers focused on a key problem of LEDs: the electrodes tend to absorb some of the light that could otherwise exit the device and increase its luminosity. To reduce absorption at the electrode, the researchers used an indium-tin oxide contact as one of the electrodes, and also used a patterned sapphire substrate to scatter the light so that it could more efficiently exit the device. The researchers also optimized the device to reduce the operating voltage from 3.08 to 2.80 V.With these design improvements and the resulting enhancements in luminous efficacy, the new white LEDs provide further evidence that solid-state lighting can meet a wide variety of our future lighting requirements. Narukawa said that, although these LEDs are expensive compared to commercialized LEDs, he predicts that the price will come down in the future. He also plans to further enhance the luminous efficacy of the white LEDs for general lighting applications. Copyright 2010 PhysOrg.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed in whole or part without the express written permission of PhysOrg.com. The cross-sectional structure of (a) a conventional LED and (b) a new high efficacy LED with the patterned sapphire substrate and ITO contact as p-type electrode, which reduce the optical absorption and improve the extraction efficiency. Credit: Yuko Narukawa, et al. The Nichia researchers, Yukio Narukawa, et al., have published the results in a recent study in the Journal of Physics D: Applied Physics. The team fabricated three types of high-luminous efficacy white LEDs, each of which utilized a variety of improvements in device structure to improve their luminosity, or brightness, and reduce their operating voltage.The researchers focused on two measurement criteria. One was luminous flux (measured in lumens), which measures the light’s luminosity as perceived by the human eye, whose sensitivity varies for different wavelengths. The second criteria was luminous efficacy (measured in lumens per watt), which measures the amount of luminous flux achieved with a given amount of power. By the numbersBriefly looking at the history of a few different types of light sources helps provide some context for the LED’s recent rapid progress. The incandescent bulb, which was developed in 1879, had an initial luminous efficacy of 1.5 lm/W, which improved to 16 lm/W over the next 130 years. Fluorescent bulbs, first developed in 1938, achieved a luminosity increase of 50 to 100 lm/W over the next 60 years. The progress of white LEDs is much more pronounced: since their commercialization in 1996, white LEDs’ luminous efficacy has increased from 5 lm/W to today’s commercial white LED of 150 lm/W, the highest luminous efficacy of all white light sources. The theoretical limit for white LEDs is about 260-300 lm/W.Now, the Nichia researchers have taken the white LED’s luminous efficacy a step further, achieving values as high as 265 lm/W at 5 mA of current, or 249 lm/W at 20 mA, values that nearly reach the theoretical limit. However, the downside of this specific design is that the luminous flux is quite low, about 14.4 lm. By modifying the design, the researchers demonstrated two other white LEDs: one with values of 203 lm and 183 lm/W at 350 mA, and one (as mentioned above) with values of 1913 lm and 135 lm/W at 1 A. This last white LED was fabricated by connecting four high-power blue LED dies in series. More information: Yukio Narukawa, et al. “White light emitting diodes with super-high luminous efficacy.” J. Phys. D: Appl. Phys. 43 (2010) 354002 (6pp). DOI:10.1088/0022-3727/43/35/354002• PhysOrg.com iPhone / iPad Apps• PhysOrg.com Audio Podcasts / iTunes• PhysOrg.com Android apps (new version available)• Join PhysOrg.com on Facebook!• Follow PhysOrg.com on Twitter!center_img Explore further Citation: White LEDs with super-high luminous efficacy could satisfy all general lighting needs (2010, August 31) retrieved 18 August 2019 from https://phys.org/news/2010-08-white-super-high-luminous-efficacy.html The history of luminous efficacy in different types of lighting shows the rapid improvements in white LEDs. The years in which the white light sources were developed are also shown. Credit: Yukio Narukawa, et al. Universal Display First to Achieve 30 Lumens Per Watt White OLED This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.last_img read more

Blue light allows for making carbonnitrogen bonds without energetically unfavorable reactions

first_img Journal information: Science (Phys.org)—A team of researchers at Princeton University and a Bristol-Myers Squibb associate have developed a means for creating reactive ammonium radical cations using flashes of blue light. In their paper published in the journal Science, the team describes their new technique and the ways they believe it could be used to create substituted amines. Travis Buchanan and Kami Hull with the University of Illinois offer a Perspectives piece on the work done by the team and the expected impact the new technique is likely to have on organic chemistry. As Buchanan and Hull note, amines (which are molecules that have a C—N bond) are very important in the pharmaceutical industry—approximately 84 percent of pharmaceuticals contain amines. But, as they also note, conventional processes that are used to create carbon-nitrogen bonds involve what they describe as energetically unfavorable reactions—they are inefficient. The process typically involves hydroamination which is where a N—H bond is directly added to a C—C molecule, or even to a triple. In this new effort, the researchers report on a new method using a simple blue light from an LED that gets the job done in a more efficient way.The team at Princeton used a photochemical approach that allowed for the creation of reactive ammonium radical cations using a flashing blue light (for 12 hours), which in turn was used to form the desired isomers. They used the blue light to excite an iridium complex to oxidize the amine, allowing for efficient bonding with the olefin. A thiophenol cocatalyst was then used to move the electron back. The researchers report that their technique could be uses for a variety of olefin and amine compounds allowing for using amines in pharmaceuticals in new and useful ways—some of which, they report, could not be created any other way. Furthermore, they note, the technique is completely atom economical—all of the atoms in the starting materials wound up in the end product.Buchanan and Hull suggest the new approach could represent a transformative approach to amine synthesis, noting that the researchers used their technique to animate a sample of every existing olefin type. A new method cuts the cost of drug-building chemicals Explore further This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.center_img More information: Andrew J. Musacchio et al. Catalytic intermolecular hydroaminations of unactivated olefins with secondary alkyl amines, Science (2017). DOI: 10.1126/science.aal3010AbstractThe intermolecular hydroamination of unactivated alkenes with simple dialkyl amines remains an unsolved problem in organic synthesis. We report a catalytic protocol for efficient additions of cyclic and acyclic secondary alkyl amines to a wide range of alkyl olefins with complete anti-Markovnikov regioselectivity. In this process, carbon-nitrogen bond formation proceeds through a key aminium radical cation intermediate that is generated via electron transfer between an excited-state iridium photocatalyst and an amine substrate. These reactions are redox-neutral and completely atom-economical, exhibit broad functional group tolerance, and occur readily at room temperature under visible light irradiation. Certain tertiary amine products generated through this method are formally endergonic relative to their constituent olefin and amine starting materials and thus are not accessible via direct coupling with conventional ground-state catalysts. © 2017 Phys.org Citation: Blue light allows for making carbon-nitrogen bonds without ‘energetically unfavorable’ reactions (2017, February 17) retrieved 18 August 2019 from https://phys.org/news/2017-02-blue-carbon-nitrogen-bonds-energetically-unfavorable.html Proposed catalytic cycle for hydroamination. Credit: (c) Science (2017). DOI: 10.1126/science.aal3010last_img read more