www.nishithdesai.com PROGRAM Crystal Room, The Taj Mahal Palace Hotel, Apollo Bunder, Mumbai March 14, 2015 Dialogue with Professor Muhammad Yunus Let’s change the world for better, together. MUMBAI SILICON VALLEY BANGALORE SINGAPORE MUMBAI BKC NEW DELHI MUNICH
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www.nishithdesai.com
PROGRAM
Crystal Room, The Taj Mahal Palace Hotel,Apollo Bunder, Mumbai
March 14, 2015
Dialogue with Professor Muhammad Yunus
Let’s change the world for better, together.
MUMBAI SILICON VALLE Y BANGALORE SINGAPORE MUMBAI BKC NEW DELHI MUNICH
Andrew Muirhead Executive Vice Chairman, Asian Venture Philanthropy Network
ADDRESS BY
Prof. Muhammad Yunus Nobel Laureate and the Founder, Grameen Bank
Paul Carttar Co-founder of the Bridgespan Group, Initial director of the Social Innovation Fund (SIF), a priority program of the Obama Administration
2:45 PM – 3:10 PM BREAK
3:15 PM – 5:15 PM INTERACTIVE INSIGHTS
Thoughts, experience sharing and dialogue with Prof. Muhammad Yunus and Paul Carttar
5:15 PM – 5:30 PM ACTION POINTS AND CONCLUDING REMARKS
5:30 PM ONWARDS Cocktails and Early Dinner with Prof. Muhammad Yunus and Paul Carttar Ballroom
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Dialogue with Professor Muhammad Yunus2
About NDANishith Desai Associates (NDA) is a research based international law firm with offices in Mumbai, Bangalore, Silicon Valley, Singapore, Mumbai-BKC, New Delhi and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
NDA has pioneered some of the international and India based fund structures used for pooling India focused funds. NDA is known for its participation in working with funds industry participants for representation towards policy. NDA has close relationship with IVCA and continues to support it on tax, regulatory and policy initiatives.
NDA’s core practice areas include Fund Formation, Fund Investment, Mergers & Acquisitions, International Tax, International Tax Litigation, International Litigation & Dispute Resolution, Capital Markets, Corporate & Securities Law, Succession & Estate Planning, Employment & HR, Intellectual Property, Competition Law, JVs & Restructuring, General Commercial Law. Our specialized industry niches include financial services, IT and telecom, education, pharma and life sciences, media and entertainment, real estate and infrastructure. Knowledge Management and Continuing Education programs cover key events, global and national trends as they unfold and examine case studies, debate and analyze emerging legal, regulatory and tax issues, serving as an effective forum for cross pollination of ideas.
Our trust-based, non-hierarchical, democratically managed organization that leverages research and knowledge to deliver premium services, high value, and a unique employer proposition has now been developed into a global case study and published by John Wiley & Sons, USA, in a feature titled ‘Management by Trust in a Democratic Enterprise: A Law Firm Shapes Organizational Behavior to Create Competitive Advantage’ in the September 2009 issue of Global Business and Organizational Excellence (GBOE).
NISHITH DESAI ASSOCIATES WAS AWARDED ASIAN LAW FIRM OF THE YEAR (PRO BONO) – 2001
BY INTERNATIONAL FINANCIAL LAW REVIEW, A EUROMONEY PUBLICATION.
NISHITH DESAI ASSOCIATES HAS BEEN RANKED INDIA’S MOST INNOVATIVE LAW FIRM AND ALSO RANKED # 2 IN THE APAC REGION (INCLUDING AUSTRALIA) BY THE
FINANCIAL TIMES IN ITS 2014 STUDY OF INNOVATIVE LAWYERS.
SpeakersProfessor Muhammad YunusNobel Laureate and the Founder, Grameen Bank
Nobel Laureate Professor Muhammad Yunus is the father of microcredit, the father of social business, the founder of Grameen Bank, and of more than 50 other companies in Bangladesh. For his constant innovation and enterprise, the Fortune Magazine in March 2012 as “one of 12 greatest entrepreneurs of our time.”
Professor Muhammad Yunus was born in Bangladesh in 1940. In 1965, he received Fulbright Scholarship to study economics at Vanderbilt University, USA and did his Ph.D. in economics in 1969.
Professor Muhammad Yunus returned to Bangladesh in 1972 and joined the Department of Economics, University of Chittagong, as its Chairman. In 1976, Professor Yunus started to experiment with providing collateral free loans to the poor. The project was called Grameen Bank Project and later, in 1983, became a full-fledged bank for providing loans to the poor, mostly women, in rural Bangladesh. Today Grameen Bank has over 8.4 million borrowers, 97% of whom are women and disburses over one and a half billion US dollars each year.
In 2006, Professor Yunus and Grameen Bank were jointly awarded the Nobel Peace Prize.“Professor Yunus is the author of BANKER TO THE POOR: Micro-Lending and the Battle against World Poverty, CREATING A WORLD WITHOUT POVERTY: Social Business and the Future of Capitalism, and, most recently, BUILDING SOCIAL BUSINESS: The New Kind of Capitalism that Serves Humanity’s Most Pressing Needs.”
Professor Muhammad Yunus is the recipient of more than 50 honorary degrees from universities across 20 countries. He has received 112 awards from 26 countries including state honours from 10 countries.
He is one of the seven individuals to have received the Nobel Peace Prize, the United States Presi-dential Medal of Freedom and the United States Congressional Gold Medal. Other notable awards include the Ramon Magsaysay Award (1984), World Food Prize (1994), International Simon Bolivar Prize (1996), Sydney Peace Prize (1998), The Prince of Austria’s award for Concord (1998) and Seoul Peace Prize (2006).
The concept of social business, which he introduced into the economic framework, is defined as a non-dividend company dedicated to solving social problems, such as healthcare, education, sanitation, water pollution, unemployment, environmental degradation, etc. His microcredit idea has spread to almost all the countries of the world, including the industrialized countries of the West.
United Nations Secretary General, Ban Ki Moon, invited Professor Yunus to serve as an MDG Advocate. He sits on the Board of United Nations Foundation, Schwab Foundation, Prince Albert ll of Monaco Foundation, Grameen Credit Agricole Microcredit Foundation and Chirac Foundation. He is one of the founding members of The Elders. Professor Muhammad Yunus serves as Nobel Laureate in Residence at the Universiti Kebangsaan Malaysia (National University of Malaysia).
Professor Muhammad Yunus was chosen by Wharton School of Business as one of ‘The 25 Most Influential Business Persons of the Past 25 Years’. AsiaWeek (Hong Kong) selected him as one of
“Twenty Great Asians (1975 – 1995).” Ananda Bazaar Patrika (India) selected Professor Yunus as one of “Ten Great Bengalis of the Century (1900 – 1999).”
Dialogue with Professor Muhammad Yunus4
Speakers
In 2006, Time magazine listed Professor Yunus under “60 years of Asian Heroes” as one of the top 12 business leaders. In 2008, in an open online poll, Professor Yunus was voted the 2nd topmost intellectual person in the world on the list of Top 100 Public Intellectuals by Prospect Magazine (UK) and Foreign Policy (United States). In 2010, The New Statesman (UK) listed him as one of
“The World’s 50 Most Influential Figures”.
Professor Muhammad Yunus has appeared on The Oprah Winfrey Show, The Daily Show with Jon Stewart, Colbert Report, Real Time with Bill Maher, Hardtalk on BBC and The Simpsons. He has appeared on the cover of Time Magazine and Newsweek.
In June 2012, Professor Yunus was named Chancellor of Glasgow Caledonian University. On Google+, Professor Muhammad Yunus is one of the most followed person worldwide, with over 2 million followers.
Paul CarttarCo-founder of the Bridgespan Group, Initial director of the Social Innovation Fund (SIF), a priority program of the Obama Administration
Paul Carttar is a senior advisor to and co-founder of The Bridgespan Group. His work has focused on social innovation, enhancing the effectiveness of philanthropy, and scaling solutions that work.Paul brings more than thirty years of experience across the public, private, and nonprofit sectors to his work. He recently served as the initial director of the Social Innovation Fund (SIF), a priority program of the Obama Administration that has mobilized nearly a half-billion public and private dollars to grow promising nonprofits with evidence of impact in low-income communities.
Prior to the SIF, Carttar was an executive partner with New Profit, Inc., working with entrepreneurial nonprofits to expand their scale and impact. Previously, he was chief operating officer for the Ewing Marion Kauffman Foundation, one of the nation’s most innovative private philanthropies, where he oversaw all program activities.
Carttar began his career in the public sector as an analyst and assistant economist for the U.S. Senate Budget Committee and subsequently served as research assistant to Dr. Arthur F. Burns, former chairman of the Federal Reserve Board, at the American Enterprise Institute. In 1982, he joined Dr. Burns, then U.S. Ambassador to West Germany, as his Special Assistant in Bonn. Later, Carttar spent several years with Bain & Company, the international corporate consulting firm, and held executive positions in two private, venture-capital funded companies in the healthcare industry.
Carttar is a frequent writer and speaker on social innovation and other nonprofit issues, including delivering keynote addresses at conferences in Kaliningrad, Russia, Dublin, Ireland, Singapore, and Seoul, South Korea.
Carttar graduated with highest distinction from the University of Kansas with a B.A. in Economics and English and received his M.B.A. from Stanford University’s Graduate School of Business.
Nishith Desai is the founder of the research-based strategy driven international law firm,Nishith Desai Associates (www.nishithdesai.com) with offices in Mumbai, Silicon Valley, Bangalore,Singapore, Mumbai – BKC, New Delhi and Munich.
Nishith himself is a renowned international tax, corporate, IP lawyer, researcher, published authorand lecturer in leading academic institutions around the world. Soon after India opened up itseconomy to the outside world in 1991, he established the first five India focused funds andpioneered the roots of asset management industry. The firm has now worked for over 900 fundsacross all classes of asset.
Nishith Desai Associates won the 2014 Financial Times – RSG award for being the ‘Most Innova-tive Indian Law Firm’ and the ‘2nd Most Innovative Law firm in Asia and Australia’. Financial Times quoted: “Nishith Desai … a constructively contrarian, created his law firm in 1990 using a model and approach radically different from that of the most international premium law firms”.
In fact, Nishith founded his law firm in 1990 on the principles of trusteeship espoused by Mahatma Gandhi and Charles Handy. His Firm’s strong sense of social purpose, which has long co-existed with its reputation for research-based, high value, complex advisory, first received recognition with the ‘Asian Law Firm of the Year (Pro-bono)’ in 2001 by International Financial Law Review, a Euro-money publication. Nishith is also the recipient of Prof. Muhammad Yunus ‘Social Business Pioneer of India’ 2010 award.
Nishith has been voted ‘External Counsel of the Year 2009’ by Asian Counsel and Pacific BusinessPress and the ‘Most In Demand Practitioners’ by Chambers Asia 2009.
He has been ranked No. 28 in a global Top 50 “Gold List” by Tax Business, a UK-based journal for the international tax community. Legal Era, a prestigious Legal Media Group has recognized Nishith Desai as the Best Tax Lawyer of the Year (2013). He is listed in the Lex Witness ‘Hall of fame: Top 50’ individuals who have helped shape the legal landscape of modern India.
Nishith Desai is a practicing advocate in India and also holds a special license from the State Bar of California and Singapore to practice Indian law. His vast understanding of international comparative law along with lateral thinking helps him be solution oriented and a very innovative lawyer.
Besides being a well-known transactional lawyer he is also a litigator and has personally argued some of the most famous complex tax cases. Nishith Desai sits on the Board of Singapore International Arbitration Centre. His practice encompasses an extensive range of tax, corporate and technology matters. His other areas of practice include corporate M&A, globalization, international listings, international IPO and corporate governance.
Dialogue with Professor Muhammad Yunus6
Speakers
Andrew MuirheadExecutive Vice Chairman, Asian Venture Philanthropy Network
Following an initial career in Banking Andrew Muirhead has been involved in the UK Philanthropic sector since 1993. He went on to lead Lloyds TSB Foundation for Scotland as Chief Executive until 2008, when he became Founding Chief Executive of Inspiring Scotland.
Andrew has led the development of a wide range of innovative programmes to support Scottish charities to scale and to help tackle key social challenges both in the UK and in developing countries in Asia, Africa, Eastern Europe and South America. His pioneering work was recognised in the 2008 Beacon Prize awards.
It was his passion for the Not-for-Profit Sector and the effective use of money and other resources that led him to travel for much of 2006 and consider various models from throughout the world which sought to achieve high impact social change. This learning led him to found Inspiring Scotland, which was launched in January 2009 to enjoy wide support from Government, Business, Charitable Trusts and Private Individuals including a number of Scotland’s leading entrepreneurs.
A fellow of the Chartered Institute of Bankers in Scotland, Andrew’s non-executive career has spanned Broadcasting, University Sector and Community Development. Andrew is a Board Member of the European Venture Philanthropy Association, is on the Advisory Board for The Centre for Charitable Giving and Philanthropy, he also serves as a Member of a Ministerial Task Force on Health Inequalities.
The Asian Venture Philanthropy Network (AVPN) is a non-profit membership association, made up of organisations interested in or practicing Venture Philanthropy and Social Investment across Asia. Established in December 2011.
AVPN aims to be the home of, as well as the highest-value catalytic network for Asian social investors, venture philanthropists and foundations committed to using venture philanthropy and social investment tools to achieve societal impact. Our core mission is to increase the flow of financial, human and intellectual capital to Social Purpose Organisations (SPOs), and for those resources to be deployed as effectively as possible to address key social challenges facing Asia today and in the future. In just three years we have already attracted 194 members to the network from 27 countries.
In addition, we work very closely with our sister organisation in Europe, the European Venture Philanthropy Association (EVPA), and many of its members are also active in supporting SPOs in Asia. The combined membership of EVPA and AVPN totals more than 375 and we are represented in 40 countries.
We consider Venture Philanthropy to be a methodology, which inevitably takes different forms in different settings. It can be applied to pure philanthropy, and to impact investing, and indeed the spectrum which lies in between.
The common attributes include:
§§ Building a deep understanding of the issue you want to tackle, essentially how can you measure progress unless you know where you start from?
§§ Carrying out thoughtful and proportionate due-diligence, to ensure that you are identifying partners with whom you can build an engaged relationship.
§§ A longer term view, typically tied to achieving a specific developmental goal(s), in the business plan of the SPO.
§§ A focus on human capital and a recognition that the capacity of the SPO must have investment, if it is to grow in scale and/or increase effectiveness.
§§ An outcome reporting culture which is built on learning and continuous improvement.
§§ A strong sense of the benefits to be gained from linking funders, and building co investment in areas of mutual interest.
Partner
Dialogue with Professor Muhammad Yunus8
AttendeesSR.NO NAME DESIGNATION COMPANY
1. Abhay Havaldar Advisory Director General Atlantic Private Ltd
2. Abhijeet Birewar Joint Managing Director Multi Organics Pvt. Ltd.
3. Adi Godrej Chairman Godrej Group
4. Ajay Garg Managing Director Equirus Capital (P) Limited
5. Ajay Piramal Chairman Piramal Group
6. Akhil Shahani Director Shahani Group
7. Alessandro Giuliani Managing Director MISB Bocconi
8. Aman Bajaaj Managing Director Takeda India
9. Amit Bhatia Founder & CEO Aspire India
10. Amit Chandra Managing Director Bain Capital Advisors Pvt Ltd
11. Amit Pasricha Digital Panoramist Amit Pasricha Photography
12. Anand Lunia Founder & Partner India Quotient
13. Anannya Chakrabarty Member Relations Manager GiveIndia
14. Andrew Muirhead Executive Vice Chairman Asian Venture Philanthropy Network (AVPN)
126. Siddharth Tata Associate Director Acumen Fund
127. Sohil Chand Managing Director Norwest Venture Partners
128. Sreevatsa Natarajan Co-Founder and CEO Sapien Bioscience Private Limited
129. Sri Rajan Managing Director Bain & Company India Pvt. Ltd.
130. Srikrishna Muruthy CEO Sattva Media and Consulting Pvt. Ltd.
131. Suchet Narain Senior Partner Korn Ferry International
132. Suhel Kanuga Co-Founder Millennium India Acquisition Company Inc.
133. Suketu Shah Joint Managing Director Mukand Ltd
134. Sunil Mathur Managing Director & CEO Siemens Ltd, India
135. Sunita Singh Co-Founder NEN/Senior Director
Wadhwani Foundation
136. Supriya Sobti Founder MOW Productions
137. Suresh Gupta Executive Vice President The Paper Products Ltd
138. Suresh Gurumani Former MD SKS Micro Finance
139. Syamal Gupta Former Chairman, Chairman of Executive Committee, Member of Nomination Committee and Member of Remuneration Committee, Tata Elxsi Ltd
Tata Sons Limited
140. T Surendar Senior Journalist Fortune India
141. T. N. Giridhar Managing Director & CEO Lincoln International Advisors Pvt. Ltd.
161 Vivek Kathpalia "Partner & Head Joint Ventures, Commercial Law"
Nishith Desai Associates
162 Vyapak Desai "Partner & Head International Litigation & Dispute Resolution"
Nishith Desai Associates
Dialogue with Professor Muhammad Yunus14
Research@NDAResearch is the DNA of NDA. In early 1980s, our firm emerged from an extensive, and then pioneering, research by Nishith M. Desai on the taxation of cross-border transactions. The research book written by him provided the foundation for our international tax practice. Since then, we have relied upon research to be the cornerstone of our practice development. Today, research is fully ingrained in the firm’s culture.
Research has offered us the way to create thought leadership in various areas of law and public policy. Through research, we discover new thinking, approaches, skills, reflections on jurisprudence, and ultimately deliver superior value to our clients.
Over the years, we have produced some outstanding research papers, reports and articles. Almost on a daily basis, we analyze and offer our perspective on latest legal developments through our
“Hotlines”. These Hotlines provide immediate awareness and quick reference, and have been eagerly received. We also provide expanded commentary on issues through detailed articles for publication in newspapers and periodicals for dissemination to wider audience. Our NDA Insights dissect and analyze a published, distinctive legal transaction using multiple lenses and offer various perspectives, including some even overlooked by the executors of the transaction. We regularly write extensive research papers and disseminate them through our website. Although we invest heavily in terms of associates’ time and expenses in our research activities, we are happy to provide unlimited access to our research to our clients and the community for greater good.
Our research has also contributed to public policy discourse, helped state and central governments in drafting statutes, and provided regulators with a much needed comparative base for rule making. Our ThinkTank discourses on Taxation of eCommerce, Arbitration, and Direct Tax Code have been widely acknowledged.
As we continue to grow through our research-based approach, we are now in the second phase of establishing a four-acre, state-of-the-art research center, just a 45-minute ferry ride from Mumbai but in the middle of verdant hills of reclusive Alibaug-Raigadh district. The center will become the hub for research activities involving our own associates as well as legal and tax researchers from world over. It will also provide the platform to internationally renowned professionals to share their expertise and experience with our associates and select clients.
We would love to hear from you about any suggestions you may have on our research reports. Please feel free to contact us at [email protected].