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SATURDAY, 16 JANUARY 2021 l MUMBAI ~10.00

VOLUME VIII NUMBER 24 l 18 pages in 1 section
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HC judge recuses
GLOBAL COVID
VIRUS
TRACKER DEATHS NEAR
2-MN MARK Piramal beats Oaktree
self from hearing
Total 10,527,683
Active cases Recovered
213,027 10,162,738 151,918
INDIA
é15,590
Deaths
in vote for DHFL buy WhatsApp case
Gets 94% of lenders’ votes, Oaktree gets 45%; plan to be submitted to NCLT
ê576 é15,975 é191
DEV CHATTERJEE the banker said. Judge takes offence to WhatsApp mail
WORLD Total
Note: Total cases
include 1 migration;
Mumbai, 15 January DHFL was sent to the bankruptcy
court in December 2019 after the com-
BIDDING PEERZADA ABRAR
93,218,605
figures as of 9 pm IST;

BATTLE
T
Sources: Ministry of he lenders to Dewan pany defaulted on its bank loans worth Bengaluru, 15 January
Health and Family
Welfare, Johns Housing Finance ~90,000 crore. The promoters of the
Deaths Hopkins Coronavirus
Corporation (DHFL) on company are currently in jail and are Justice Prathiba Singh of the Delhi High Court
1,996,505
Resource Centre
Note: Arrow shows Friday voted overwhel- facing money-laundering charges. on Friday recused herself from hearing the peti-
one-day change
mingly in favour of the resolution plan Piramal’s plan will lead to a recov- tion challenging the updated privacy policy of
submitted by the Piramal group, pav- ery of ~37,250 crore over the next five messaging giant WhatsApp.
ing the way for a turnaround of the years for the DHFL lenders. Of its total In a brief hearing, Justice Singh took objec-

9TH ROUND OF GOVT, bankrupt firm.

While Piramal’s offer received 94
payout, Piramal will give ~12,700 crore
as upfront cash to the lenders. The
tion to an email sent to the court by WhatsApp,
and on account of that she took the decision.

FARMER TALKS END, per cent votes, US-based Oaktree

Capital’s plan got just 45 per cent votes
higher upfront cash tilted the scale in
Piramal’s favour. According to the
Law platform Bar & Bench said it was “under-
stood that the email pointed out that Justice
STALEMATE REMAINS from the committee of creditors (CoC).
A banker said Oaktree’s offer was
plan, the existing shareholders of
DHFL will get zero value. The offer of
Singh had appeared in a connected matter when
she was a lawyer”. WhatsApp later withdrew the Justice Prathiba Singh ordered
The government on Friday asked protesting “too complicated” and there were too the third bidder, Adani, was too low. email unconditionally. that the matter be placed before
farmers to form an informal group to many loopholes in its plans, including Oaktree, which had offered an | DHFL lenders to get ~37,250 crore from “I am not going to hear this case. I was, in another single-judge Bench
prepare a proposal about their objections misleading information on the ratings additional ~1,700 crore after the bid- Piramal over 5 years any case, not going to hear it,” said Justice Singh,
and suggestions on the farm laws for
discussion at their meeting on January 19 to
of future bonds to be issued to the
lenders.
ding deadline, did not find favour with
the lenders. | Lenders will get ~12,700 crore as
according to Bar & Bench. However, Additional
Solicitor General Chetan Sharma urged the
THE CONTROVERSY
end the protest at various Delhi borders, but Piramal, on the other hand, plans The CoC will submit Piramal’s plan upfront cash judge not to recuse herself. He said there could | The updated privacy policy
unions stuck to their main demand of a to merge its financial services busi- for the approval of the National | Piramal to merge DHFL as soon as not be a better person to hear this matter and it of WhatsApp violates the
complete repeal of the three Acts. The tenth ness with DHFL and retain all its Company Law Tribunal (NCLT). NCLT clears plan was an important question of law. But Justice user’s right to privacy,
round has been scheduled for a day when a employees. It succeeded easily in get- Piramal Capital and Housing Singh said she was sending it to another judge. alleges a lawyer’s petition
Supreme Court-appointed panel is also ting more than the requisite 66 per Finance’s merger with DHFL will be | Oaktree’s offer was too "complicated", Senior advocate Mukul Rohatgi, appearing | The policy “allows” full
likely to hold its first meeting. PTI cent votes with all the public sector effective from the date the NCLT and there were too many loopholes in it, for WhatsApp, asked for the matter to be listed access to a user’s online
banks in the CoC voting in its favour, approves the plan. Turn to Page 13 > say sources before a single-judge Bench. Justice Singh sug- activity without any
ECONOMY & PUBLIC AFFAIRS P5 gested the case be treated as PIL (public interest
govt oversight
litigation). The matter will now be heard by
| It takes away the choice of a
Exports rise marginally another Bench on Monday.

to touch $27.15 bn in Dec IT FIRMS RIDE ON DEAL REVENUES LIKELY TO GET The petition, preferred by advocate
Chaitanya Rohilla, has said the new privacy pol-
user to not share data with
other Facebook-owned and
Exports closed the year 2020 with a glimmer
of hope by recording a marginal growth of
WINS, DIGITAL DEMAND BACK ON TRACK IN FY22 icy of WhatsApp violates the right to privacy,
guaranteed under the Constitution of India.
third-party apps, according
to the petition
0.14 per cent in December, which was only Large deal wins, a sharp expansion in margins, With the economy expected to clock a growth Salman Waris, managing partner at technology
and expectations of a return to double-digit rate of 13 per cent in nominal terms in 2021-22, | WhatsApp says privacy
the third month in the year to show law firm TechLegis Advocates and Solicitors,
expansion. The outbound shipments were growth were the key themes in the Q3 performance HCL TECH gross tax revenues may be projected at ~23.65 said: “The revised terms and conditions and the policy and terms of update
$40 million higher at $27.15 billion in the of India’s top four software services companies. Q3 NET trillion in the Budget, back-of-the-envelope modified Privacy Policy clearly appear as an are common in tech
month compared with $27.11 billion a year The top four IT majors beat Street estimates across all SURGES 31% calculations suggest. This is about 23 per cent MORE REPORTS abuse of WhatsApp and Facebook’s dominant industry; respect for privacy
ago on the back of pharmaceuticals, parameters. RAM PRASAD SAHU writes 10 > PAGE 3 higher than expected. DILASHA SETH writes 5 > ON PAGE 5 position in the market.” Turn to Page 13 > coded into its DNA
electronics, gems and jewellery exports.

ON
SATURDAY
Confident of staying
SPECIALS
WEEKEND RUMINATIONS
in the 5G race, says
Unicorns coming of age 9 >
It goes without saying that most Indian
unicorns are still burning cash, and therefore
Huawei India CEO
are value-destructive from a GDP perspective. “EVERY COUNTRY NIVEDITA MOOKERJI
New Delhi, 15 January
But Amazon did not turn in a profit till 2016,
more than two decades after its founding.
HAS THE RIGHT TO
T N NINAN writes DEVELOP ITS Multinational technology major Huawei has said
ECONOMY…MADE there’s been no official communication from India
IN INDIA SHOULD so far on keeping Chinese companies out of 5G or
NATIONAL INTEREST
any other telecom services in
Punjab’s real problem 9> NOT BE SEEN AS the country. In an interview
Punjab, once India’s richest state, has BEING EXCLUSIVE. with Business Standard, Huawei
PAGE 8
slipped and fallen behind. It needs to IT SHOULD BE India CEO David Li said, “We are US TARGETS
get off the paddy-wheat-MSP high and confident that we will be part of XIAOMI IN
rediscover its entrepreneurial impulse. INCLUSIVE” the game.” TRUMP’S LATE
SHEKHAR GUPTA writes DAVID LI, The Shenzhen-headquar- ANTI-CHINA
CEO, tered firm, which has been fac- PUSH
HUAWEI ing the fallout of the ongoing
INDIA
geopolitical situation, believes it would continue to
> RESULTS RECKONER participate in India’s telecom journey that it has been
Quarter ended Dec 31, 2020; common sample a part of for 20 years.
of 48 companies (results available of 52) “There’s been no clear communication, no offi-
cial ban,” Li said. While emphasising a level playing
SALES
field, he said Huawei was not just a cost-effective
Dec 31, ’19 8.4% ~11.39 trillion ì company but also a high-tech global leader. The
Dec 31, ’20 6.8% ~12.17 trillion ì confidence that Huawei would have a role in
the upcoming 5G play comes from “having a
NET PROFIT clear record in terms of compliance, value
Dec 31, ’19 6.5% ~1.90 trillion ì creation, and local contribution,’’ said the
Dec 31, ’20 19.9% ~2.28 trillion ì CEO, who’s been in India in different roles
over the years. Turn to Page 13 >

Decked up for first day, first shot

GEETIKA SRIVASTAVA & NITIN KUMAR when the first shots would be
New Delhi, 15 January administered in the country.
But more than anything else,
Dr Alka Choudhary was waiting security has been key. Seven Army
anxiously for an SMS on the eve of jawans and five police officers were
India’s vaccination roll-out when seen guarding a secluded building
Business Standard spoke with her at Rajiv Gandhi Super Specialty
on Friday. She wanted to know Hospital in Dilshad Garden, New
whether she would be among the Delhi. This week, the building
first to get vaccinated as the stored multiple doses of Covid-19
process begins on Saturday. vaccines, of which many have
“We await a message from already been sent to various
the government telling us that centres around the city.
we are eligible to receive the shot. At one such centre — Delhi’s
After receiving the message, Safdarjung Hospital — strings of
we will head to the vaccination marigold adorned the walls outside
centre along with necessary the room meant to serve as a
documents,” said Choudhary, registration spot for those Medics at a vaccination booth preparing for the
district surveillance officer under receiving the shot. The room in the first round of vaccination drive PHOTO: PTI
the National Health Mission, Old Emergency Block, a floor
and a doctor at the Peera Garhi
Mohalla Clinic.
below the vaccination area, was
sealed and suitably guarded.
PAGE 6 PAGE 2
The hectic preparations in the Posters were all over to guide COVID-19 VACCINATION: INDIA INC
capital city resembled action at any people receiving the jab. Some WHAT YOU SHOULD KNOW RACES TO
wedding venue, according to a mentioned the documents GET COVID
health worker in the midst of it all. required for registration, others STATES RUSH TO JABS FOR
From rangoli on hospital floor to affirmed the safety of the vaccine — COMPLETE SURVEYS OF EMPLOYEES
garlands, vaccination locations When we are safe, the nation is safe. FRONTLINE WORKERS
were busy dressing up for Saturday Turn to Page 13 >

Original Uploaded fast update byhttps://t.me/English_Newspeper_L_Banna_sa

 2 COMPANIES
>
MUMBAI | 16 JANUARY 2021 1

AIR TRAFFIC SLIPS TO 7-YEAR LOW Firms boost risk capabilities amid pandemic
SACHIN P MAMPATTA & ADITI DIVEKAR so that we don’t lose the agility we had panel would give it some oversight on
Mumbai, 15 January gained during the height of the Covid ANTICIPATING this too, under the proposed Sebi
lockdown,” said Ajay Kapur, chief A RECOVERY guidelines. An overlap of responsibil-
An Indian manufacturing company, executive officer (CEO) (aluminium ities between the two committees may
which supplies goods to the US and and power) and managing director create some ambiguity and should be
companies in Europe, found itself (MD) (commercial) at Vedanta. resolved in the final guidelines, sug-
faced with an unexpected problem fol- Similarly, JSW Steel had been looking gested Puneet Gupta, Protiviti India
lowing the pandemic. to create hubs across the country to Member managing director.
There was a shortage of freight con- reduce the number of people in the “While the audit committee is
tainers. Without containers, the com- corporate office in Mumbai. largely constituted of independent
pany was unable to use ships to send There are also other kind of directors, the risk management com-
products overseas. It eventually had changes which take more cognizance mittee is not. This may dilute effec-
to use airplanes to transport goods. of risk. tiveness in the event of a shift in
Such unexpected situations, which Some companies are looking to responsibilities when the final regu-
Domestic air traffic slip- DOMESTIC increase expenses or otherwise pose combine risk management with lations are in place,” he said.
ped to a seven-year low risks to profits, are being more closely strategy, according to Sudhakar The increased focus on business
in 2020 as a result of AIR TRAFFIC (in mn) studied across Indian boardrooms Rajendran, partner and enterprise risks comes even as earnings show
two-month lockdown. after the Covid-19 pandemic. And, risk leader, EY India. For example, signs of improvement. Nifty50 com-
In 2013, airlines had companies are carrying over their people evaluating a new geography panies saw earnings estimates cut 20
Source:NSE
flown 61.4 million. learnings in managing unforeseen would also include perspectives of per cent for the financial year 2020-
In calendar year 2020, risks after the events of 2020. risks arising from operating in that 21, noted a January 3 Jefferies India
domestic airlines flew 63 A solution for the company above, region. This has happened after the that impacted the lives of so many The Securities and Exchange Equity Strategy report from equity
an auto component maker, was to pandemic, he said. globally has added a new layer of com- Board of India (Sebi) issued a consul- analysts Mahesh Nandurkar and
138.9

million passengers,
99.8

144.1
117.1

compared to 144.1 more closely watch shipping rates. “A critical function of boards has plexity,” he said. tation paper on December 10, looking Abhinav Sinha.
63

Natural resources company been to understand and mitigate “The risk on account of the Covid- to mandate risk management com- The Nifty’s earnings growth expec-
million in the previous
Vedanta faced supply chain disrup- enterprise-wide risks – but the pan- 19 pandemic, which jolted the world mittees to the top 1,000 companies tations are 37 per cent for FY22 (see
year. Airlines flew 7.3 2016 2017 2018 2019 2020 tions and other issues during the demic has brought that responsibility throughout 2020, was not identified and better define the role of such com- chart of Nifty index versus price/earn-
million passengers in Source: DGCA
pandemic. It used a digital war room into sharp focus. Its unprecedented as a risk by most. In such a high-risk mittees, including looking at internal ings multiples).
December, resulting in to monitor the evolving pandemic impact has highlighted the inter-con- environment, the role of risk manage- controls. “India’s gradual reopening and
month-on-month Last week, Civil situation daily and take decisions nectedness of risks and the velocity at ment committees has changed dra- Internal control and risk manage- consequent economic pick-up has
growth of 15 per cent. Aviation Secretary accordingly. which the risk landscape can change. matically,” said Suresh Surana, ment have typically been under the turned out to be faster than expected.
While they added flights Pradeep Singh Kharola “This war room has now converted Understanding new and emerging founder of audit, tax and consulting purview of the audit committee. The This has driven earnings upgrades,”
in December, load factors said domestic aviation into a business transformation office risks to business during a pandemic provider at RSM India. expanded role of the risk management said the report.
declined resulting in would be back to normal
slower growth compared in two to three months.
to previous months. ANEESH PHADNIS

IN BRIEF India Inc races to get Covid NEW LAUNCHES

PICK UP, BUT
HOME SALES
Fullerton India CEO quits, firm
reshuffles senior management
Temasek-backed Fullerton India Credit
jabs for frontline workers YET TO REVIVE
The Covid-19 pandemic
disruptions and the
subsequent lockdown
brought the already NEW LAUNCHES
Company on Friday said Managing Director and
Chief Executive Rajashree Nambiar stepped
Say employees be termed essential workers; in talks for bulk procurement stressed real estate sector & SALES PLUNGED
to its knees during mid- 50% YoY
down after a three-year stint to pursue outside ARINDAM MAJUMDER, ISHITA AYAN DUTT
interests. Nambiar will take an advisory role & VIVEAT SUSAN PINTO 2020. However, by the end New launches Sales
(In ,000 units)
during the transition period. The company also New Delhi/Kolkata/Mumbai, 15 January of year, new launches 2017
announced changes in senior leadership bounced back – 290.8

A
positions. While Chief Risk Officer Pavan irlines, airports, steel and auto registering 12 per cent 274.9
Kaushal has been appointed chief operating officer, Chief Financial manufacturers, and fast-moving growth in the October- 2018
Officer Pankaj Malik will also work as the head of strategy consumer goods firms are jockey- December quarter. 296.7
execution, the company said. Kaushal and Malik will be part of an ing for Covid-19 vaccines, hoping that get- Sales, however, 350.7
interim executive committee and report to the board. Sunil Kaw ting employees vaccinated will help them continue to remain 2019
has been appointed interim chief risk officer. The overall strategy resume full-scale manufacturing. tepid as a gloomy 244.2
and direction for the companies remain unchanged and will Company bosses are calling on the gov- 347.6
economic outlook, faltering income
continue to be reviewed by the respective Boards from time to ernment to give their workers priority 2020
time, it said. BS REPORTER access to the shots, arguing that their
levels, and legacy issues in the sector
122.4
employees are needed to keep the econ- SEEKING PRIORITY ACCESS keep buyers skeptical.
ARNAB DUTTA
182.6
omy running or face high risks of contract-
TVS Capital plans to At ~49 crore, PVR ing the virus. Some of them have even
| Automakers planning logistics | Bengaluru Airport has asked the state
on how to vaccinate workers government to set up a vaccination AFTER THE MAYHEM, NEW INTEREST RATE CUTS FAILED
launch fourth Fund narrows net loss started exploratory talks with vaccine
at manufacturing units centre in the airport for its employees LAUNCHES BOUNCED BACK TO ATTRACT ENOUGH BUYERS
makers to secure supplies for employees.
at $500 million in third quarter “I am certain that the government will | IndiGo has approached the health | Industry lobby groups want the Total units (YoY chg) Total units (YoY chg)

58,910
(-27%)
54,330
ministry to prioritise aviation workers government to approve using CSR

69,560
(-25%)
After successfully closing the Multiplex operator PVR reported prioritise manufacturing workers who are

(12%)
largest rupee-only capital a net loss of ~49 crore in the an integral part of the economy for the and is ready to sponsor employees funds for vaccinating their employees
fund, TVS Capital is gearing up quarter ended December 31 (Q3) vaccine. However, it also depends on the
(-50%)
to launch its fourth fund, as the coronavirus impact quantity of production of the vaccine. At

(-57%)
35,670

35,130
which will be around $500 lingered during the period. But Maruti, we have started a discussion on Targeting that, steel firms like cination centre at the airport premises so
million in size. Last week, TVS the good news is it was lower how to handle the logistics, so that we can ArcelorMittal Nippon Steel (AMNS), JSW that they can take the jabs.
(-66%)
19,860

19,090
(-79%)
Capital closed a third and than the net loss of ~184 crore procure and vaccinate our employees as group, as well as FMCG major ITC have Some of the companies said they will
rupee-only capital fund. The reported in the September and when it is available for the industry,” approached vaccine makers for procuring encourage—but not mandate—employ-
(-81%)
12,560

firm is backed by domestic quarter, when multiplexes had said R C Bhargava, chairman at India’s vaccines for their employees. ees to get vaccines. “We will not get into
investors, family offices, HNIs, not reopened at all. A year ago, largest carmaker Maruti Suzuki. The com- “We have approached vaccine man- administering doses to our staff. But there
including tech veterans and PVR had reported a net profit of pany, which employs around 16,000 ufactures and are in exploratory talks. ITC will certainly be an awareness drive and
insurance firms, with total AUM ~36 crore in the December people, has three manufacturing facilities. would certainly like to extend the vacci- encouragement to employees to get inocu-
of ~2,000 crore. BS REPORTER quarter. BS REPORTER India’s largest domestic airline IndiGo nation to employees and we are intending lated at the nearest vaccine centre, once it Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
has approached the ministry of health to to purchase it once it is commercially avail- becomes available to all,” said Mayank 2020 2020
prioritise frontline workers in getting the able. All categories of personnel — Shah, senior category head at Parle.
OneWeb gets funding from jab. If approved, the airline plans to vacci-
nate thousands of pilots, cabin crew, and
whether workers or managers, engaged in
manufacturing, sales, hospitality — need
Industry lobby groups
approached the government to approve
have
HYDERABAD, PUNE MUMBAI & PUNE ACCOUNTED
LED NEW SUPPLIES FOR HALF OF THE SALES
SoftBank, Hughes Network airport staff. “We are happy to sponsor
and support the immunisation of our
to be administered the vaccine on priority
to keep economic activity progressing in
using corporate social responsibility (CSR)
funds for vaccinating their employees. The (In total units)
Q4, YoY (In total units)
Q4, YoY
Bharti Global and the UK government-led OneWeb on Friday said employees through vaccines as and when the larger interests of the country and the proposal has come from the Federation of 2020 chg in % 2020 chg in %
it secured additional funding from SoftBank Group and Hughes they are made available. We believe that organisation,” a spokesperson of ITC said. Indian Chambers Commerce and Hyderabad 12,720 427 Mumbai 18,330 -32
Network Systems, taking the total funding for much like health care workers, aviation The FMCG major is also one of the Industry. Companies with a net worth of
THIS TAKES THE the broadband satellite communications employees are also frontline warriors sup- largest hotel chains in the country, oper- ~500 crore, or revenues exceeding ~1,000 Pune 10,770 10 Pune 11,550 -28
TOTAL FUNDING company to $1.4 billion (over ~10,200 crore). porting the process of integrating people ating over 100 hotels. “Whenever the vac- crore, or net profit over ~5 crore have to set Mumbai 10,070 -48 Bengaluru 7,660 -6
FOR THE FIRM With the investment, SoftBank will get a seat on of the nation,” said Raj Raghvan, senior cines are available to corporate houses, we aside 2 per cent of their average profit over
Bengaluru 6,100 -10 Hyderabad 6,490 13
TO $1.4 BILLION OneWeb Board. The capital raised so far vice-president and head HR at IndiGo. shall certainly take them on priority and the past three years on CSR programme.
positions OneWeb to be fully funded for its first- The government will start administer- provide it free to all employees,” said Dilip The corporate affairs ministry has Delhi-NCR 5,120 105 Delhi-NRC 6,060 -43
generation satellite fleet, totalling 648 satellites, by the end of 2022, ing the vaccines from January 16. While Oommen, CEO at AMNS, which has over ensured that firms could classify spends Chennai 4,890 37 Chennai 3,180 -8
it said. “OneWeb, the Low Earth Orbit satellite communications the initial focus is to vaccinate health care 13,000 employees. on tackling Covid-19 as part of CSR expen-
company jointly owned by the UK government and Bharti Global, and frontline professionals by July, the Hari Marar, MD and CEO at Bengaluru diture. It has said expenditure incurred by
Ahmedabad 3,000 -10 Ahmedabad 3,120 -48
announced it has secured additional funding from SoftBank Group market is expected to open up for retail Airport, said the company has approached firms on awareness campaigns would be Kolkata 1,660 102 Kolkata 2,520 -19
and Hughes Network Systems," the company said in a statement. PTI and institutional sale even before that. the Karnataka government to set up a vac- counted towards CSR expenditure. Source: PropTiger

DHFL’s long-drawn journey to resolution with the objective of restricting a full and fair
competition in the auction process.
After legal advice, the CoC decided to call for
another round of bidding. When the third round
DEV CHATTERJEE bidders included KKR, Bain Capital, Arcil, of bids was opened, Oaktree’s offer was the
Mumbai, 15 January Oaktree which had bid for all the three portfolios highest, but with several riders. While Piramal
on sale. Some other companies bid only for the offered higher upfront cash and offered to merge
In January 2019, investigative news site retail portfolio and the slum redevelopment loan its financial business with DHFL, Adani was
Cobrapost shocked the Indian financial world portfolio. But only four remained in the fray by ranked third in the race. “The Adanis’ offer,
with its expose that the promoters of DHFL, the time financial bids were called, as others however, led to banks realising at least ~4,500
the Wadhawans, had siphoned off ~31,000 crore were spooked by the huge holes in the crore more,” said a lender.
to various promoter entities through several company’s books. The final bidders were the
shell companies. Piramal group, the Adani group, US-based Oaktree vs Piramal
The company’s initial reaction was to deny vulture fund Oaktree, and SC Lowy. Oaktree and Piramal started telling lenders
this, but as subsequent investigations showed, In the first round of bidding, Oaktree offered that the offers submitted by their rival were
the Wadhawans not only stripped the housing to take over the entire company for ~20,000 crore legally flawed and could eventually be
finance company of cash, but the operation was (including ~8,000 crore in deferred payments challenged in courts.
run over years right under the noses of with interest), Piramal bid only for the retail But Oaktree’s offer was under a cloud as it
regulators and its auditors. book for ~15,000 crore. The Adani group was would not get the insurance regulator’s approval
By the time the company was sent to the keen only on the construction finance and slum to hold stake in an insurance venture because
bankruptcy court in December 2019, it owed redevelopment books and offered around that would breach the foreign direct investment
close to ~90,000 crore to several lenders, fixed THE STORY SO FAR ~3,000 crore. SC Lowy said it wanted only the (FDI) ceiling — 51 per cent stake is already owned
deposit holders and provident fund holders in construction finance book. by a foreign partner Pramerica. Besides, Enam
Uttar Pradesh. Around 45,000 employees of the January 2019: DHFL and appointed bank loans October 2020: for the entire As lenders were not happy with the offers, backed out of AIF (alternative investment fund)
UP Power Corporation (UPPCL) came out on the Cobrapost says R Subramaniakumar January 2020: Oaktree makes highest company they sought another round of bids. The Adani structure proposed by Oaktree after the bid was
streets, protesting against the parking of their PF DHFL promoters administrator Lenders invite EoIs for offer for entire co, pips December 2020: group surprised everyone by making an offer for submitted, spooking lenders.
corpus worth about ~4,100 crore in DHFL. The siphoned off funds December 2019: NCLT DHFL and/or its books Adani, Piramal CoC seeks another the entire company and outbidding both At the same time, as the offer of an additional
UP government then ordered a Central Bureau November 2019: orders bankruptcy November 2020: round of bids; Oaktree and Piramal. The three other bidders ~1,700 crore came after the bid submission
of Investigation probe against DHFL and the February 2020: 24 then complained against Adani to the deadline in December, the CoC did not consider
RBI supersedes the process against DHFL firms submit EoIs Adani makes highest Piramal offer
investment made by UPPCL. board of directors of after it fails to repay offer of ~31,000 crore scores the highest Committee of Creditors (CoC). it while scoring the offers, but mentioned it as a
DHFL’s fall not only exposed the chinks in for DHFL In a letter dated November 22, the Adani footnote in the scorecard.
Indian auditing firms, but also showed the flaws group said its initial EoI was only for DHFL’s Enraged, Oaktree sent a missive to the CoC on
in rating companies, which gave it the highest In May 2020, the Enforcement Directorate case linked to the late gangster Iqbal Mirchi, wholesale and slum redevelopment assets and January 6 pointing out how its offer was better
rating. In its interim report in November 2019, (ED) arrested DHFL promoters Kapil and were summoned by the agency multiple times in they were hopeful of being able to complete the than Piramal’s and was legally implementable.
auditing firm KPMG said the promoters of DHFL Dheeraj Wadhawan in connection with its the YES Bank case. They are also facing charges deal along with Piramal, which had bid only for Piramal pointed out that Oaktree’s plan will fail
siphoned off ~20,000 crore from DHFL to money laundering probe against YES Bank co- related to the Mirchi case. the retail assets. But when all the offers were the capital adequacy test, apart from Oaktree
various entities with no proper entries available founder Rana Kapoor and others. They were in opened on November 9, the group realised that offering a non-existent rating on its future bonds
on the end use of funds. Following a diktat from fact already in jail, having been arrested by the The resolution process its rivals’ offers did not truly reflect the value of to be issued to lenders.
the Reserve Bank of India (RBI), DHFL was then CBI, which is also probing money laundering After the lenders sought bids for the companies the company. Hence, it bid for the entire Worried that Oaktree’s offer was not
sent to the National Company Law Tribunal cases. The Wadhawan brothers, who were also in February 2020, they received 24 expressions company which led to its rival bidders. The implementable, the lenders finally decided to go
(NCLT) for debt resolution. probed by the ED in another money laundering of interest (EoIs) for DHFL’s loan portfolios. The group said some bidders had formed a “cartel” with the Piramal, bringing the process to an end.

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MUMBAI | 16 JANUARY 2021 COMPANIES 3
<

HCL Tech Q3 APPOINTMENTS

net surges 31%
SAMREEN AHMAD
Bengaluru, 15 January
Attrition at
all-time low
R
iding the digitisation
wave, HCL Technol-
ogies posted strong HCL Technologies said that
numbers for the December in the December quarter,
quarter, with net profit up attrition level was at a his-
31.1 per cent year-on-year toric low for the company
(YoY) at ~3,982 crore com- at 10.2 per cent. It, how-
pared with the correspon- ever, expects it to inch up a
ding quarter a year ago. little bit in the coming qua-
Net profit rose 26.7 per rters as the pandemic eases
cent on a sequential basis. and there is pent-up dem-
The Noida-headquarte- and in the market. With the
red firm’s consolidated rev- company seeing net addi-
enue was up 6.4 per cent to tion of 6,597 employees in
~19,302 crore YoY and 3.8 per the quarter, the total
cent sequentially. headcount has moved to
Earnings before interest 159,682. BS REPORTER
and taxes (Ebit) margin of the
IT services provider expa-
nded 265 basis points YoY to back our own to create a pos-
22.9 per cent in the October- itive impact,” said Shiv
December period — a 24- Nadar, chief strategy officer,
quarter high. The company’s HCL Technologies.
revenue also crossed the $10- The company won 13 tra-
billion milestone in 2020, nsformational deals across
delivering 3.6 per cent YoY industry verticals, including
growth in constant currency. life sciences and health care,
Revenue is expected to technology and financial ser-
grow 2-3 per cent in constant vices. It has classified any de-
currency for Q4 while EBIT al over $25-million as transfo-
outlook for FY21 is now high- rmational deal. This booking
er in the range of 21-21.5 per was 13 per cent higher than
cent, up from 20-21 per cent the December quarter of 2019.
announced previously. “We continue to see a
“The technology sector is strong pipeline and are con-
in the midst of a massive digi- fident of further acceleration
tisation wave, with more glo- of bookings in the coming
bal enterprises embracing quarters. Our Mode 2 and
digital transformation to add- Mode 3 businesses did a lot of
ress the disruption in these heavy lifting during the quar-
unprecedented times. Tech- ter. Mode 2 revenues deliv-
nology has been a key ena- ered 25 per cent YoY growth.
bler during the pandemic. As The robust performance in
we stand at the cusp of the Mode 2 is driven by digital
next phase of technological and cloud businesses,” said
innovation, it is vital that we C Vijayakumar, president &
draw inspiration from each chief executive officer (CEO),
other’s strengths and offer HCL Technologies.

THE FINANCIALS
% Change
Q3FY20 Q2FY21 Q3FY21 QoQ YoY
Netsales (~ cr) 18,135 18,594 19,302 3.8 6.4
Employee cost (~ cr) 8,800 9,444 9,447 0.0 7.4
PBIDT (~ cr) 4,786 5,237 5,813 11.0 21.5
PBIDTM (%) 26.4 28.2 30.1 195 bps 373 bps
Netprofit (~ cr) 3,037 3,143 3,982 26.7 31.1
EPS (~) 10.9 11.6 14.6 26.3 34.8
Compiled by BS Research Bureau Source Capitaline

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 4 COMPANIES
>
MUMBAI | 16 JANUARY 2021 1

Adani, GMR, Godrej in

fray to redevelop CSMT
Project cost pegged by the Centre, the IRSDC added.
“For providing better pas-
GOVERNMENT OF TAMILNADU
at ~1,642 crore senger services and amenities,
FINANCE DEPARTMENT railway stations will be on
CHENNAI - 9 for creating City licence with the concessionaire
Dated: January 16, 2021 Centre Rail Mall for 60 years,” IRSDC said.
The bidders can tap into rev-
PRESS COMMUNIQUE
TWESH MISHRA enue streams such as pre-deter-
It is notified for general information that the outstanding balance New Delhi, 15 January mined charges (as notified by
of 8.50% Tamil Nadu Government Stock, 2021 issued in terms of the ministry of railways) from

A
the Government of Tamil Nadu, Finance Department, Notification dani Railways Trans- railway station users as in prac-
No.214(L)/W&M-II/2011, dated February 11, 2011 will be repaid port, GMR Enterprises, tice at airports. There are also
at par on February 17, 2021 with interest due up to and including Godrej Properties and long-term lease-rights for real
February 16, 2021. In the event of a holiday being declared on Oberoi Realty are some players estate. “Up to 99 years for resi-
the aforesaid date by any State Government under the Negotiable that have evinced interest in dential or mix-use format and
redeveloping the Chhatrapati 60 years for non-residential.
Instruments Act, 1881, the loan will be repaid by the paying offices
Shivaji Maharaj Terminus Airport and other airports at tation needs, his daily needs will About 254,000 square metres
in that State on the previous working day. No interest will accrue on
(CSMT) railway station. Jaipur, Ahmedabad, Lucknow, also be fulfilled, like retail, food of built-up area (tentative) has
the loan from and after February 17, 2021. ISQ Asia Infrastructure Inv- Guwahati, Mangaluru, Thiruva- and beverage. The aim is to ca- been allowed for commercial
2. As per sub-regulation 24(2) and 24(3) of Government Securities estments, Kalpataru Power Tra- nanthapuram or railway sta- ter to a passenger’s needs in the development,” IRSDC said.
Regulations, 2007 payment of maturity proceeds to the registered nsmission, Anchorage Infrast- tions,” an IRSDC statement said. railway station itself, thus avoid- The redevelopment cost of
holder of Government Security held in the form of Subsidiary ructure Investments Holdings, The project will include seg- ing unnecessary travel within the station (mandatory cost),
General Ledger or Constituent Subsidiary General Ledger account Brookfield Infrastructure Fund regation of arrival and depar- the city,” the statement added. including cost of financing and
or Stock Certificate shall be made by a pay order incorporating the IV, Moribus Holdings and ture, divyang-friendly station, IRSDC had invited request contingency, among others, is
Keystone Realtors have also better level of services for pas- for qualification (RFQ) for rede- ~1,642 crore). The investment
relevant particulars of his bank account or by credit to the account
shown interest in the project. sengers and energy efficient velopment of the station thr- opportunity for redevelopment
of the holder in any bank having facility of receipt of funds through
In all, 10 applications have building. It will also restore the ough the public-private part- is on design, build, finance,
electronic means. For the purpose of making payment in respect of been received by the Indian heritage site, according to its nership (PPP) route on August operate and transfer (DBFOT)-
the securities, the original subscriber or the subsequent holders of Railway Stations Development 1930 levels. 20, 2020. This had come after basis, IRSDC added.
such a Government Securities, as the case may be, shall submit to Corporation (IRSDC) for rede- Upon redevelopment, it will an in-principle approval of the The initial planning was
the Bank or Treasury and Sub-Treasury or branch of State Bank of veloping the CSMT into a ‘City provide multiple access points Public Private Partnership Ap- done by AREP, a French con-
India, where they are enfaced / registered for payment of interest, Centre Rail Mall’. to passengers for easy commute praisal Committee (PPPAC). sultant, and the technical con-
as the case may be, the relevant particulars of their bank account. “This has seen the best par- and also a direct linkage with The committee had representa- sultant for planning the project
3. However, in the absence of relevant particulars of bank ticipation in recent times in suburban railway, harbour line, tives from the ministry of is AECOM. The financial and
terms of number of applica- Metro rail and commercial dev- finance, ministry of law, NITI transaction consultant is Kn-
account/mandate for receipt of funds through electronic means, to
tions, when compared to proj- elopment. “The CSMT railway Aayog and the ministry of rail- ight Frank. Besides CSMT, work
facilitate repayment on the due date, holders of 8.50% Tamil Nadu ects like Delhi Airport, Mumbai station will function like a City ways, among others. And, ap- on redevelopment of 123 rail-
Government Stock 2021, should tender their securities at the Public Airport, Navi Mumbai Airport, Centre Rail Mall where, in addi- proval was in accordance with way stations across the coun-
Debt Office, 20 days in advance. The securities should be tendered Goa Mopa Airport, Jewar tion to a passenger’s transpor- the guidelines for PPP projects try is in progress.
for repayment, duly discharged on the reverse thereof as under:-
“Received the Principal due on the Certificate”

Domestic steel
BARC extends news ratings
4. It should be particularly noted that at places where the
treasury work is done by a branch of the State Bank of India, the
securities, if they are in the form of Stock Certificates, should demand may
shrink 11% in blackout as probe deepens
be tendered at the branch of the bank concerned and not at the
Treasury or Sub-Treasury.
5. Holders who wish to receive payment at places other than FY21: CRISIL VIVEAT SUSAN PINTO tacted. However, the pause in there was need for greater trans-
those where the securities have been enfaced for payment should
ADITI DIVEKAR Mumbai, 15 January ratings by BARC was undertak- parency in the ratings system. It
send them duly discharged to the Public Debt Office concerned
Mumbai, 15 January en in part to bring about chan- had also indicated of the need to
by Registered and Insured Post. The Public Debt Office will make The Broadcast Audience Re- ges in its measurement system look at technological solutions
payment by issuing a draft payable at any Treasury/Sub-Treasury or The domestic steel demand search Council of India (BARC), as advertisers, agencies, and that captured diversity and
branch of State Bank of India conducting Government Treasury work is expected to contract by 9-11 which measures television broadcasters sought a stringent scale of viewership in India.
in the State of Tamil Nadu. per cent because of the viewership, has extended the and robust mechanism to tack- According to experts, the
S. KRISHNAN, nationwide lockdown and blackout of ratings to news le data manipulation — a prob- news genre has become partic-
Additional Chief Secretary to Government, the subsequent slower-than- channels that first began in lem that has dogged the view- ularly challenging for BARC in
DIPR/87/DISPLAY/2021 Finance Department, Chennai-9. desirable ramp-up in manu- mid-October. Friday was the ership measurement recent years. While the
facturing activities, Indian last day of the 12-week suspen- industry for years. Suspension share of viewership of
Steel Association (ISA) sion that was initiated by BARC Possible changes likely for the news genre in total
knowledge paper prepared in the wake of the manipula- that the body was another three viewership is 5 per ce-
by CRISIL said on Friday. tion of television rating points looking at included months, say nt, their share of adve-
The steel demand, which (TRPs) that came to light in increasing the number industry rtising is at 10 per cent.
plunged 55 per cent year-on- October. Republic TV and a few of panel homes from sources Advertisers have
year (YoY) in the first quarter other channels were named in 44,000 to 50,000 and come out against
as the lockdown brought con- the probe carried out by the the introduction of multiple excessive toxicity and hate con-
struction as well as manufac- Mumbai Police. checks to reduce tampering of tent on news channels that is
turing activity to a near Business Standard has reli- data. But industry sources say aimed at garnering viewers’
standstill. ably learnt the suspension of ra- that it is unclear what changes attention. Bajaj Auto, Dollar,
Though it has recovered tings for news channels is like- BARC has introduced since and Amul have all emphasised
sharply since then, it has lim- ly for next three months as the nothing has been communi- the need for restraint and to put
ited demand decline to only probe into the TRP racket deep- cated to stakeholders yet. The an end to hate mongering.
17 per cent YoY in the first ens. The Mumbai Police had Indian Broadcasting Fou- On Friday, Rajat Sharma,
nine months of FY21, said the made a few arrests, including ndation, which includes the president, National Broadcas-
knowledge paper. of former BARC India employ- country’s top TV channels, has ters Association, a body of news
ees Partho Dasgupta and Romil 60 per cent representation on channels, said the release of
Demand to grow 18% Ramgarhia in the matter. the BARC board. While 20 per news ratings should be post-
in FY22: ICRA The probe, which was cent each is represented by the poned for a few more weeks
The domestic steel industry revealed by the Mumbai Police Indian Society of Advertisers until satisfactory steps were
is expected to register 18 per on October 8, had prompted and the Advertising Agencies taken to address TRP manipu-
cent growth in demand in BARC to review its operations. Association of India. lation. The Arnab-Goswami-
FY22, partly aided by a low “This review with the technical On Tuesday, a four-member led News Broadcasters Fed-
base in FY21 when demand is committee is ongoing. We will committee appointed by the eration, on the other hand, said
likely to contract by around intimate our stakeholders at the Information & Broadcasting any further withholding of data
12 per cent, ICRA said in its appropriate time,” a BARC India Ministry to review TV viewer- by BARC would be counterpro-
report on Friday. spokesperson said when con- ship measurement had said ductive.

Mining sector reforms a step in

the right direction, says industry
However, concerns would increase significantly.
Kanchi Kohli, senior researcher at the
remain over impact Centre for Policy Research, said with the
shift from captive to commercial use, with-
on environment out any end-use restrictions, it will be virt-
ually impossible to regulate footprint, as
SHREYA JAI & ADITI DIVEKAR minerals will be transported to places wher-
New Delhi/Mumbai, 15 January ever mine developers find demand and
higher rates of returns. “Environmental
Though the fine print and official confir- laws are designed to lay down conditions
mation of the mining sector reforms the based on disclosures made prior to miner-
Union Cabinet approved on Wednesday are al extraction so that approvals can be grant-
yet to come, industry players are elated at ed or rejected based on the level of impacts.
the steps taken. There are, however, con- With the new set of proposed changes, this
cerns over implementation at the state lev- will be impossible to predict or monitor and
el and the environmental impact of mining. the impact areas are likely to constantly
“Directionally, it is a good set of reforms. producing company said removing the dis- shift and evolve. It is clear that the present
But since implementation is with state gov- tinction between merchant and captive amendments have not undergone an eval-
ernments, the key lies in how each state mines seems like a good move for corpo- uation of their environmental viability or
executes it at its end. Even today, for a final rates. “It will allow captive owners to sell in social consequences,” she said.
go or no go, in terms of approvals, it takes the market too. But we would wait for an off- The Centre has also proposed to reallo-
about three-four years, and this scares away icial announcement,” he said. cate non-producing blocks of public sector
investors,” said Ritabrata Ghosh, assistant Under the proposed reforms, captive utilities to increase the number of mines
vice president (corporate ratings and indus- mines would be allowed to sell 50 per cent into production. It is learnt that the Centre
try research) at ICRA. of minerals excavated in a year. The Centre would also ask PSUs to facilitate production
The Cabinet is learnt to have approved a has also proposed a 50 per cent rebate in the from mines that were auctioned in March
package for the mineral mining sector that quoted revenue share for the quantity of 2020 but have not started production even
would entail amendments to three exist- mineral produced and dispatched earlier after transfer of valid rights, clearances, etc.
ing Acts, pricing formula for minerals, than scheduled date of production. That As part of the reforms, the Centre will
exploration of mines, and several taxes and apart, it could amend sections 10A(2)(b) amend the Indian Stamp Act, 1899, in order
duties levied on mining. Officials said this and 10A(2)(c) of the MMDRA to unlock to bring uniformity across the States in cal-
is expected to boost production and pri- more mines for auctioning. This would culation of stamp duty. The Minerals
vate investment in the sector. entail Centre auctioning pending mining (Evidence of Mineral Contents) Rules, 2015,
The Centre has removed distinctions leases as well. R K Sharma, secretary gen- will also be amended for inclusion global
between captive (self-use) and merchant eral, Federation of Indian Mineral Indus- exploration standards.
(commercial sale) mines. It will also amend tries (FIMI), said, “It is a move in the right “With such changes in commercial min-
the Mines and Minerals (Regulation and direction. This will lead to more resource ing and revenue sharing, the measure of
Development) Act, 1957 (MMRDA). Govern- development as auctions are made attrac- mining efficiency will shift from total ton-
ment officials said the amended MMDRA tive. FIMI welcomes this move.” nage of mined ores to profit/hour of mining
will be placed before the Parliament in the But as more mines come under the operations as a leaseholder or as nation,”
upcoming session. hammer, there are concerns that the envi- said Saurabh Bhatnagar, partner and
A senior executive with a primary steel ronmental and social impact of mining national leader, metals & mining, EY India.

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MUMBAI | 16 JANUARY 2021 ECONOMY 5 <

IN BRIEF
Rajasthan discoms to raise
~1,500 crore through bonds
Revenues may get back on track in FY22
Three Rajasthan-based power distribution companies (discoms) —
Gross tax revenues may be projected at around ~23.65 trn in the Budget, back-of-the-envelope calculations suggest
ILLUSTRATION: BINAY SINHA
Jaipur, Jodhpur and Ajmer — will raise ~500 crore each through
bonds. Rating agency ICRA has assigned provisional “BBB” rating to
DILASHA SETH
New Delhi, 15 January
MAPPING THE NUMBERS period last year.
Union Finance Secretary
Two-thirds of the Budget
estimate had been achieved up
the bonds with “stable” outlook as the state government would Tax to GDP ratio touched a decadal Ajay Bhushan Pandey in an to November. The excise duty
low in FY20

W
provide unconditional and irrevocable guarantee on the securities. ith the Indian econ- interview had said on petrol stands at
The rating factors in the companies’ status as a wholly owned power omy expected to with the economy ~32.98 per litre and
sector entity of the state government. Another positive is the cost- clock a growth rate expected to see neg- that on diesel at
plus tariff framework, which allows the discoms to recover the of 13 per cent in nominal terms ative growth, tax ~32.83 per litre.
uncontrollable cost variation on a quarterly basis. ICRA said the tariff in 2021-22, gross tax revenues revenue collection GST, introduced in
hike approved by the Rajasthan Electricity Regulatory Commission in may be projected at around will also be in that 2017, had sub-
February last year is expected to improve the cash flows of these ~23.65 trillion in the upcoming range. sumed excise duty
discoms, while lowering the revenue gap. BS REPORTER Budget, back-of-the-envelope The National on all items except
calculations suggest. Statistical Office has petroleum pro-
This is about 23 per cent estimated nominal ducts and alcohol.
Forex reserves up by Govt nod to vehicle higher than what was expected GDP to contract by Harpreet Singh,
this year. 4.2 per cent and real partner, KPMG
$758 mn to lifetime scrappage policy With the pandemic dealing GDP to decline by 7.7 said with most
high of $586 bn likely soon: Gadkari a blow to Centre’s revenue col- per cent in 2020-21. economists pre-
The much-awaited policy to lections, gross tax revenue for Tax buoyancy has been dicting a complete V-shaped
scrap 15-year old vehicles is 2020-21 is estimated to hover steadily declining since 2015- economic recovery, GST reve-
likely to get government nod around ~19.24 trillion in the cur- Source: Budget documents 16, when it was 1.63, and nues should ideally touch ~1
soon, Union Minister Nitin rent fiscal year — 4.23 per cent became minus 0.47 in 2019-20. trillion each month during the
Gadkari said on Friday. On lower than in FY20 and 26 per of economists’ estimates of 11- should not be undertaken in up was even lower than the Direct tax buoyancy went next fiscal year.
July 26, 2019, the government cent lower than what was esti- 15.5 per cent for FY22. the upcoming Budget, she “revised estimates”, which down from 1.59 in 2018-19 to “Implementing e-invoicing
proposed amendments to mated at the time of the Gross tax revenue includes added. were revised downwards. 1.23 in 2018-19 to (-) 1.21 in for all; including petrol, elec-
motor vehicle norms to allow Budget. This may mean that income tax, corporation tax, “At this stage, when the As of November this year, 2019-20. tricity, and real estate under
scrapping of vehicles older the Centre will revise down- goods and services tax (GST), revenue visibility remains gross tax revenue is just about Tax revenue had declined GST; speedy tax refunds to
than 15 years in a bid to spur ward the Budget estimate by at customs, and excise duty. clouded, the timing may not be half of last year’s level at ~10.26 by 3.39 per cent in 2019-20, avoid working capital block-
The country’s foreign exchange adoption of electrical least ~5 trillion. Aditi Nayar, principal econ- appropriate to consider lower- trillion. However, there was a with the tax-to-GDP ratio at a ages; and a conducive new for-
reserves rose by $758 million to vehicles. PTI While the tax-to-GDP ratio omist, ICRA Ratings, said ing the direct tax rates to avoid sharp 23 per cent uptick in decadal low of 9.88. eign trade policy are some of
reach a record high of $586 of 9.88 per cent has been assessing revenues for a turn- having to impose curbs on November, driven by personal Excise collection has been the tax measures that could
billion in the week ended Centre launches assumed for FY21, the same as around year like FY22 was chal- spending later, if the expected income tax, excise duty, and a bright spot in the current fis- boost economic growth,” said
January 8, the RBI data showed
on Friday. In the previous week
PMKVY 3.0 to boost last year, when it touched a
decadal low, for FY22 a ratio of
lenging.
“In terms of absolute
revenue buoyancy does not
end up being realised.”
customs duty, whereas corpo-
rate tax collection continued to
cal year, posting a stellar
growth rate of 47.7 per cent till
Singh.
GST touched a historic high
ended January 1, the reserves employability 10.7 per cent has been numbers, we have assumed net Gross tax revenue collec- see a contraction. November on the back of the of ~1.15 trillion in December,
had increased by $4.483 billion to The government on Friday assumed, an average of the last tax revenues at ~15.5 trillion tion exceeded the Budget esti- In the eight months up to steepest hike by the govern- while personal income tax
$585.324 billion. In the reporting launched the third phase of five years. (+14 per cent relative to ICRA’s mates in three years — FY16, November, gross tax revenue ment in taxes on petrol and grew by 35.7 per cent in
week, foreign currency assets its flagship skilling scheme The 13.5 per cent nominal FY21 exp),” said Nayar. FY17, and FY18. collection is down 12.6 per cent diesel in the form of cess and November and customs by 9.2
(FCAs) rose by $150 million to Pradhan Mantri Kaushal Vikas GDP growth rate is on the basis Major changes in tax rates In FY19 and FY20, the mop- against the corresponding special additional duty in May. per cent.
$541.791 billion. PTI Yojana (PMKVY 3.0) in a bid to
empower the country's youth
L&T Finance Holdings with employable skills by BUDGETBYTE DEFENCE UKIBC wants
December-quarter making over 300 skill courses
profit down 51%
available to them. PMKVY 3.0
envisages training 800,000
THIS DAILY SERIES OF GRAPHS PROVIDES CONTEXT
TO SOME OF THE CRITICAL ISSUES RELATING TO THE
UNION BUDGET ON FEBRUARY 1
tax cut for
L&T Finance Holdings Ltd’s net
profit fell by 51 per cent to ~291
candidates over the period of
2020-2021 with an outlay of foreign firms
crore in third quarter ended ~948.90 crore. PTI Defence pensions demand more funds
December 2020 (Q3Fy21) from INDIVJAL DHASMANA
~591 crore in Q3Fy20. Only discoms can than capital expenditure New Delhi, 15 January
In what is a known yet worrisome development, outgo on
Sequentially net profit rose 10
per cent from ~265 crore in
install rooftop solar pensions to retired defence personnel takes up more Budget
The UK-India Business
Q2FY21. BS REPORTERS plants: Centre money than the modernisation of the Army, Navy and Air Force
Council (UKIBC) has urged
via capex. Though this may be a structural issue, raising more
The government cautioned Finance Minister Nirmala
budgetary resources for defence modernisation is necessary.
ICAI set to use consumers against rooftop Sitharaman to bring parity
Expenditure (~ crore)
AI to identify solar firms that are claiming to
be “authorised vendors” for
in the corporate tax rates
between foreign and n Promote
non-compliance the implementation of Grid- domestic companies and Industry ask localisation: Support
Chartered accountants' apex connected Rooftop Solar remove retrospective needed in the sourcing of
body ICAI is planning to use Scheme. The Ministry of New amendment to the Income- n GST cut: Reduce tax automotive components
artificial intelligence to identify and Renewable Energy said Tax Act in the upcoming from 28% to 18% for 1 year n EV incentives: A one-
non-compliances with respect
to financial statements as part of
the scheme is being
implemented only by power
Budget. The reduction in
the corporate tax rate for AUTOMOTIVE n Vehicle scrappage
policy: An incentive-
year relaxation in the
FAME II policy
efforts to boost its review distribution firms that have domestic companies cou- based policy to scrap over conditions to include
process. PTI empanelled vendors . PTI pled with the abolition of Key challenges 15-year-old commercial incentives for personal
dividend distribution tax vehicles and revised axle vehicle buyers (non-
(DDT) creates a significant n Sustained recovery norms needed transport) and increase
Guj: PM to e-inaugurate rly FY20: Provisional actuals, FY21: Apr-Sep accounts
disparity between the effec-
tive tax rates applicable to
of market demand:
The market has shown
n Infra projects:
Prioritise infra projects
per kWh incentive for
two-wheelers
station near Statue of Unity Defence spend grows in H1, but only foreign companies at 43.68
per cent and domestic com-
green shoots of recovery
with high growth in
eg. NHAI, irrigation etc.,
under the fiscal spend
n Transfer pricing:
Provide relaxation/
Prime Minister Narendra Modi will on Sunday inaugurate virtually because of fall in GDP panies at 25.17 per cent. Q3FY21. initiatives flexibility in transfer
the newly-built Kevadia railway station near the Statue of Unity in Due to a contraction in the economy, defence spend as a share In its recommendations n Accelerated pricing (arm’s length
Narmada district and a broad gauge line connecting Vadodara with of GDP has gone up in the first half of this year, getting close to for the upcoming Budget n Timely revival of the depreciation for pricing) norms, in line
Kevadia, Gujarat Chief Minister Vijay Rupani said on Friday. The the 2% mark. But it has been on a decline in the past few submitted to the FM, NBFC sector: The sector vehicles: Introduce a with the OECD’s
inauguration was earlier scheduled for Saturday but, apparently, got years, despite the ever-growing need to increase it. The focus UKIBC said: “Globally, the accounts for a major one-time accelerated recommendation, for
pushed back by a day due to the prime minister kicking off the on health and the inevitability of committed expenditure may general practice is to have a share of the retail depreciation for new firms which have faced
nationwide Covid-19 vaccination drive on the same day.”Prime result in a dip in defence share in total government spending. tax rate parity across all financing and is key to vehicles purchased in significant challenges
Minister Narendra Modi will inaugurate the Kevadia railway station kinds of companies within driving sales in the FY22
through video-conference from New Delhi on January 17. He will also the same industry." commercial vehicle
inaugurate the Vadodara- Kevadia railway line on the same day," It cited the examples of segment. Currently this
Domestic sales (mn)
the chief minister said in Jamnagar. Rupani said the PM would flag all BRIC countries except sector is in severe FY19 vs FY20 H1FY20 vs H1FY21
off eight trains from Kevadia, some 195 kilometres from here, during India and a majority of stress with high NPAs
the virtual function on Sunday.In December 2018, President Ram OECD countries (the UK, and availability of -18 Chg % -38 Chg %
Nath Kovind visited Kevadia, which is around 5 kilometres from the Japan,etc.) as well as impor- funding
182-metre tall Statue of Unity, and laid the foundation stone for the tant financial centres like 25.6 20.9 11.4
railway station, aimed at providing a direct rail link to the heavily Hong Kong and Singapore n Commercial vehicle
patronised monument from Vadodara, a major Western Railway where the tax structures for industry: The sector and 7.0
junction. BS REPORTER domestic and overseas its supply chain has a
companies are identical. longer road to revival FY19 FY20 H1FY20 H1FY21
*Excludes pensions; **Includes pensions “While abolishing DDT
Source: National Statistical Office, Union Budgets of India, Sources: Siam, PwC analysis
ABHISHEK WAGHMARE is a positive step, it is recom-

CBDT relaxes fee

Controller General of Accounts
mended that the corpora-
tion tax rates for branches
of foreign firms be reduced
PwC POINT OF VIEW
cap requirement to bring them at par with
domestic firms,” Jayant
Krishna, CEO, UKIBC, said. KAVAN
n In FY21, the industry has gone through one
of its most challenging phase in decades.

for offshore funds MUKHTYAR

Partner & leader –
Automotive sector,
While Q3 has shown a positive trend, Budget
can help accelerate recovery. We expect the
Budget to create the necessary conditions
ASHLEY COUTINHO
Mumbai, 15 January GDP may contract 7.5% this yr, need PwC India
that will kickstart a phase of sustained growth
and help India become a global manufactur-
The Central Board of Direct
Taxes (CBDT) has relaxed the policy reforms in Budget: Virmani ing hub.

requirement of remunerating
fund managers of certain off- PRESS TRUST OF INDIA needed for accelerating INDUSTRY VOICE
shore funds because of the New Delhi, 15 January India's economic growth...,"
amended Rule 10V for avail- he said adding that the econ-
PAWAN GOENKA, managing director and CEO, M&M
ing the special taxation The Indian economy is likely omy is likely to contract 5-7.5 n It has to be a Budget that stimulates
regime under Section 9A. to contract in the range of 5- per cent in FY21 and grow 9- consumption. It will be an absolutely wrong
The Section provides for a 7.5 per cent this fiscal year but 11 per cent in the next fiscal time to levy any new taxes. The introduction of
special taxation regime in will see a growth rate of 9 to 11 year,” he said. a scrappage scheme could be another way to
respect of certain offshore per cent in FY22, former chief Virmani further said India stimulate demand. It will be unrealistic for the
funds in the context of their economic adviser Arvind can't become 'Aatmanirbhar' auto industry to expect a GST cut as the sector is
fund managers being located Virmani (pictured) said on with the 20th century Direct one of the biggest sources of indirect taxes. But
in India. Friday. Addressing a virtual Tax Code. The eminent econ- there is a scope of rationalisation in the
The CBDT has stated that management activities, with event organised by industry with policies to accelerate omist also emphasised that number of slabs the industry has. There is also
for financial years 2019-20 a minimum remuneration to body PHDCCI, Virmani said India's economic growth. there is a need of 15 per cent a need to start all PLI schemes as early as
and 2020-21 in cases where be paid under a prescribed in the upcoming Budget, the “In the post-pandemic uniform GST rate for 75 per possible
the remuneration paid to the methodology, which became government should come up Budget, policy reforms (are) cent of goods and services.
fund manager is lower than effective from April 1, 2019.
the amount of remuneration The notification provided
prescribed under sub-rule
(12) of Rule 10V, but is at arm’s
length, there is no need to
a window for applicants to
seek approval from the board
when the amount of remu-
Highways ministry seeks 40% hike in FY22 allocation
take CBDT nod for that lower neration is lower than pre- MEGHA MANCHANDA
amount to be the amount of scribed. New Delhi, 15 January Development Corporation (NHIDCL) — were next five years, including 2,500 km of express- tious highway development programme —
remuneration. "Since it was not possible on track with road construction despite Covid- ways. These include 9,000 km of economic Bharatmala Pariyojana — which includes
However, the board's per- to comply with the provisions The Ministry of Road Transport and Highways 19 induced lockdowns. corridors, and 2,000 km each of strategic bor- developing about 65,000 km of highways.
mission will be required from for FY19-20 and FY20-21, the (MoRTH) has sought a budgetary allocation The allocation has gone up from ~83,015 der roads and coastal roads. Besides these, 100 Under Phase-I of the programme, the gov-
FY21-22 if fees paid to the CBDT has issued a notifica- of ~1.4 trillion for the next fiscal year (FY22), crore last fiscal year to ~91,823.2 crore for the tourist destinations and 45 towns would be ernment has approved the implementation of
manager are lower than the tion stating that the remuner- nearly 40 per cent higher than the FY21 allo- current year. Of this hike of ~8,808 crore, as connected through highways. 34,800 km of highway projects with a target
prescribed amount. ation paid by the fund man- cation. The funds would be used to step up much as ~5,809 crore is through investment Also the share of engineering, procurement of five years and an outlay of ~5.35 trillion.
The Finance Act 2019 had ager, if lower than the highway construction in the country. in the NHAI, met by monetising national high- and construction projects, or government- The NHAI has mandated the development
replaced one of the con- amount prescribed shall be The ministry was allocated ~91,823 crore ways. The remainder is for road works. funded projects, was 60 per cent in the total of about 27,500 km of highways under
ditions requiring an arm’s sufficient if it is at arm’s for FY21, which was later revised to ~1.02 tril- Highways Minister Nitin Gadkari recently project mix for the NHAI last year. Bharatmala Pariyojana Phase-I. The NHIDCL
length remuneration to be length for FY19-20 and FY20- lion as MoRTH and its wings — the National said his ministry aims to take the road building The NHAI accomplished construction of has a target of completing 750 km of roads in
paid to the eligible fund man- 21," said Sunil Gidwani, Highways Authority of India (NHAI) and the target to 40 km a day by March. The NHAI has 3,979 km of national highways in FY20. hilly regions and the northeast, and it is
ager for performing fund Partner, Nangia Andersen. National Highways and Infrastructure a target to build 60,000 km of highways in the The government has envisaged an ambi- expected to meet the goal by the end of FY21.

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 6 ECONOMY & PUBLIC AFFAIRS
>
MUMBAI | 16 JANUARY 2021 1

States rush to complete India well prepared to store,

frontline worker surveys distribute Covid-19 vaccines
ARNAB DUTTA & T E NARASIMHAN the first phase, a robust stor- vegetables, vaccines require
New Delhi/Chennai, 15 January age and distribution infras- much smaller units. “Even a
Also wait for instructions from the Centre on the second phase of the drive As the country initiates a
tructure will play a key role.
And, this has been a key con-
150 sq. ft unit can store thou-
sands of vaccines. Moreover,
SOHINI DAS & VINAY UMARJI mammoth vaccination drive, cern for the authorities. Four these Puff panel units, with
Mumbai/Ahmedabad, 15 January the government may have to government medical store back up cooling unit, cost
overcome many hurdles to depots (GMSDs) located in ~300,000-400,000. Given the

E
ven as Prime Minister Narendra achieve its stated goal of vac- Karnal (Haryana), Mumbai, lower level of investment
Modi is set to flag off the first cinating 300 million people in Chennai, and Kolkata are the involved in such projects,
phase of the nationwide inocula- the first phase. But Covid-19 primary storage hubs that will many local entrepreneurs
tion drive on Saturday, states are rushing vaccine cold storage capacity procure vaccines from the have started setting up similar
to complete surveys of frontline workers and distribution is the least of manufacturers. Some 53 state units in various locations,”
ahead of the January 25 deadline set by its worries. storage points have been iden- said a senior industry execu-
the Centre. Apart from the existing tified that will source the vac- tive at a cold storage devel-
Moreover, government officials have government infrastructure, cines either from the GMSDs oper.
indicated that it might take another five used for universal immunisa- required to be stored in 2-8 or directly from manufac- According to market
months to inoculate citizens aged over tion programme, underuti- degree Celsius. So, unlike the turers. For the last-mile deliv- research firm IMARC
50 who have comorbidities (in the later lised capacities at private facil- Pfizer vaccine that needs to be ery, smaller storage points are Services, the increase in
phase). Until then, vaccines would not ities will come in handy, stored at -70 degree Celsius, being identified or set up at demand for cold storage solu-
be available for the general public. according to stakeholders. Covishield can be stored in district levels. tions from pharma and other
Health care workers will be vacci- Low cost of setting up a new commonly found refriger- “Almost every primary segments is expected to help
nated in the first phase of India’s Covid- cold storage facility has ators. This is a big advantage,” health centre, which is the grow the country's cold stor-
19 inoculation drive, followed by other reduced the risk of supply said Kapil Bhatia, who heads smallest health care unit at age market by 17 per cent in
frontline workers, including police offi- Institute of India and only around 20,000 overtaking storage capacities the industrial cooling solu- the village level, have refrig- 2021, taking the total market
cials and administrative staff, among
others. The second phase will entail vac-
Health minister takes doses of Covaxin made by Bharat
Biotech. The state is preparing a list of
at remote places, they said.
India has about 29,000
tions business at Daikin.
Cooling majors like Daikin
erators. Vaccine storage units
at block-level, operated by
size to ~1.7 trillion. The esti-
mated growth would come on
cination of people aged above 50 as well stock of preparations, people with comorbid conditions. cold chain points, 1.6 million and Blue Star are already government and private a high base as between 2015
as those below 50 but with comorbidities.
The survey for enumerating health assures jabs are safe A senior official said that it is likely to
take at least five months to vaccinate ben-
shipper boxes, 76,000 cold
chain equipment, 700 reefer
involved in setting up new
vaccine storage units for gov-
players, can be easily tweaked
to suit the temperature
and 2020, the market has
already reported a 16 per cent
care workers was largely completed by A dedicated Covid control room at the eficiaries. vans and 55,000 cold chain ernment and private entities. required for the Covid vac- compound annual growth.
January 12, based on the deadline set by Nirman Bhawan premises of the health According to Laxman Singh Ola, who handlers, with close to 2.5 mil- Daikin, for example, has cines,” said a top executive Health care products account
the Centre. However, now states are not ministry, which has been analysing the heads the inoculation programme in lion health care workers recently completed two such from a leading air condition- for 3.6 per cent of the overall
only rushing to survey other frontline spread of coronavirus in the country, will Rajasthan, around 487,000 health care involved in its Covid vaccina- projects for the Northern ing major. cold storage market, but that
workers, but are awaiting instructions be monitoring the smooth roll-out of the workers have been surveyed and are tion network, estimates sug- Railways. Cold storage industry is expected to grow two-third
from the Centre on the second phase of Covid vaccines through the ready for inoculation. “The survey for gest. “Covishield, developed With over 600 million vac- executives said that unlike to around 6 per cent by end-
the drive. Co-WIN digital platform. other phases are on and we will follow by the Serum Institute, is cine doses in the pipeline for storage facilities for fruits and 2022.
“We are scrambling with the survey Health Minister Harsh Vardhan the Centre’s guidelines on the same,” said
of vaccine recipients. While listing out visited the control room on Friday to take Ola, while adding that survey for front-
health care workers was relatively easy,
though the survey went on till the last
stock of the preparations for the
nationwide launch of the vaccination
line workers was still on.
Friday also saw last-minute video con-
DECODED
day, surveys for frontline workers as well drive on January 16. The Co-WIN platform ferences by states ahead of the launch of
as the second phase are tougher. With
limited staff at smaller centres like ours,
we are burning the midnight oil to meet
is meant to enable real time information
of vaccine stocks, storage temperature,
and individualised tracking of
the vaccination drive on Saturday.
Earlier, the Ministry of Health and
Family Welfare (MoHFW) had also
Vaccination drive begins today:
the deadline,” said a medical officer at
an urban health centre (UHC) in Gujarat.
“While surveys for the second phase
recipients have begun at multiple places,
beneficiaries of the vaccine. Vardhan
also said that “the indigenously
manufactured vaccines, Covishield and
Covaxin have proven safety and
shared precautions and contraindica-
tions for Covid-19 vaccination to the
states and union territories.
The ministry has also advised that the
All you need to know about it
we are yet to receive guidelines from the immunogenicity records.” BS REPORTER Covid vaccines are not interchangeable, RUCHIKA CHITRAVANSHI vaccination for Covid?
Centre on the same. Given that 100 and the second dose should also be of 15 January Patients who are among active
people need to be inoculated daily, it will the same company. As such, the inocu- cases; those who received
be an uphill task and the sooner the 50 but with comorbidities have been lation drive includes a second booster With the country all set to roll plasma therapy and were given
guidelines come the better,” said an offi- identified for vaccination. dose to be administered to recipients out two Covid vaccines — antibodies; and those who are
cial in Gujarat. In Maharashtra, around 780,000 after 28 days. Covishield and Covaxin — on acutely ill and hospitalised due
In all, over one million people, includ- health care workers have registered. Contraindications also include avoid- Saturday, the health ministry to any illness can be given the
ing health care and frontline workers, will These combine both government and ing administering the Covid vaccine to has come out with directions vaccine four to six weeks after
get vaccinated in Gujarat. While house- private sector workers. Around 290,000 persons with a history of anaphylactic or for programme managers on they have recovered.
to-house surveys are still on at some frontline workers have registered too. allergic reaction, pregnant and lactating handling the two jabs and Special precaution has to be
places, about 10 million people aged The state has received 960,000 doses women, as well as persons having active detailing the precautions that taken in persons with a history
above 50 and 275,000 people aged below of Covishield vaccine, made by Serum symptoms of Covid-19 infection. need to taken. And, giving of bleeding or coagulation dis-
them a heads-up about the order. have been reported following The approval for the vac-
adverse events that may occur vaccination using Covishield cines is according to the provi-
after a person receives the shot. What are the adverse events without causal relationship sions of the New Drugs and
following immunisation to establishment”. Clinical Trials Rules, 2019,
What are the basic check watch out for? A detailed investigation which fall the the Drugs and
points? The health ministry has pre- into the adverse event in Cosmetics Act of 1940. The Act
Under the emergency use pared a comparative fact-sheet Serum’s trial did not find any has a provision of "compensa-

ARSS INFRASTRUCTURE authorisation (EUA), the vac-

cine is only for those above 18
that lists the adverse events
that may occur for both vac-
causal link between the illness
and the investigational candi-
tion to the subject in case there
is any serious adverse event in
PROJECTS LIMITED years of age. If required, Covid
vaccine and any other vaccina-
cines individually.
Covishield, made by the Serum
For date. In the wake of reports of
a serious adverse event in one
a trial subject which is linked
to the investigational product".
Registered Office- Plot No-38, Sector-A, Zone-D, Mancheswar Industrial Estate,
Bhubaneswar-751010, Odisha, India, CIN: L14103OR2000PLC006230, tion has to be done at an inter- Institute of India, the common 40-year-old Chennai volunteer Serum Institute would have
Tel No.: +91-0674-2602763, E-mail: [email protected], val of at least 14 days. The sec- and mild adverse events men- in the Serum Institute- to submit an India-specific risk
Website: www.arssgroup.in ond dose should be of the same tioned are injection site tender- AstraZeneca vaccine trial, the management plan, and also
Pursuant to the Regulation 29 read with Regulation 47 of SEBI Covid vaccine as the first dose. ness and pain, headache, Indian drug regulator had provide safety data on adverse
(Listing Obligations and Disclosure Requirements) Regulations, fatigue, myalgia (pain in mus- reassured that all processes events with due analysis every
2015, Notice is hereby given that a Meeting of the Board of Who should not be given cle), malaise (general feeling of and protocols were being fol- 15 days for the first two months
Directors of the company will be held at Regd. Office of the the vaccine? discomfort), pyrexia (fever), lowed for clinical trials. to the regulator.
Company on Friday, 22nd January, 2021 inter alia, to consider,
approve and take on record Standalone and Consolidated Those who have anaphylactic chills and nausea. For Bharat Thereafter, the monthly
Unaudited Financial Results of the company for the quarter or allergic reaction to a pre- Biotech’s Covaxin too similar How will the regulator submission of data on adverse
and nine months ended 31st December, 2020. vious dose of Covid vaccine, events have been listed along review any future adverse events is allowed.
Further, as per company's code of Conduct for prohibition of and also if there is immediate with abdominal pain, tremor, events? The Indian situation is dif-
Insider trading, the Trading window for dealing in securities of
the company was closed for all designated person of the
or delayed onset of such reac- sweating, bodyache, dizziness While the vaccine makers are ferent from countries such as
company and their immediately relatives since 1st January, 2021. tions to vaccine or injectable or giddiness. unlikely to have any indemnity the US where the Public
The trading window shall remain close till the expiry of 48 hours therapies or food items. The government has listed from the government in case of Readiness and Emergency
after the announcement of Financial Results. The aforesaid Besides, pregnant and lactating rare adverse events for an adverse event, the Central Preparedness Act was invoked
information is also available on the website of the company i.e. women should not receive the Covishield, but there are no Drugs Standards Control to give legal protection to com-
at (www.arssgroup.in) By Order of the Board vaccine yet since such a group such effects reported for Organisation (CDSCO) will panies making or distributing
For ARSS Infrastructure Projects Limited
Sd/- has not been part of the trials. Covaxin. The list says that investigate if there are any the vaccines unless there is
Place: Bhubaneswar Prakash Chhajer “very rare demyelinating dis- causal links between the "willful misconduct" by the
Date: 15.01.2021 (Company Secretary & Compliance Officer) Who can use the deferred orders (nerve tissue damage) adverse event and the vaccine. company.

GAJENDRA HALDEA: 1949-2020

A guru for a generation of

infra project administrators
SUBHOMOY BHATTACHARJEE in government-business relationship in
the early days of liberalisation.
At a time when the government plans to He was, however, not done when he
give a massive infrastructure project push moved out of the ministry. He again
in its Budget for FY22, Gajendra Haldea, came back to the erstwhile Planning
one of India’s most respected names in Commission as head of the Secretariat
the sector, would have been an important for Infrastructure & PPP during the
voice. Haldea, 71, died on Monday. United Progressive Alliance (UPA) gov-
More than a generation of India’s ernment’s two terms.
administrators have picked up their He famously decided to charge only
toolkit to administer infrastructure proj- one rupee as his monthly salary and
ects from this Rajasthan-cadre Indian courted the ire of state governments for
Administrative Service (IAS) officer who repeatedly pointing out flaws in their
wrote extensively on policies and agreements with companies in their PPP
drafted many contracts for infrastruc- contracts.
ture projects. Most of his apprehensions came true.
In the process, he not only helped Last year, he engaged in a discussion
build up India’s ability to handle com- with this correspondent over the execu-
plex infrastructure challenges, but was tion of viability-gap model with respect
also willing to share his formidable to the Hyderabad metro project.
knowledge with anyone who cared. He never gave up on the infrastruc-
A good portion of the credit for ture sector, having advised several
India’s in 2020 top rank in the 2020 did not stop the Maharashtra govern- state governments during the past two
World Bank database of countries with ment from signing on it and creating a decades.
the largest number of public-private subsequent mess. While at the Planning Commission,
partnership (PPP) projects must go to Around this period, he also authored he wrote a 19-volume series on PPP in
him. the Electricity Act 2003 and the Foreign India, which also included his well-
As joint secretary (infrastructure) in Exchange Management Act, 1999. The known standardised model documents
the 1990s in the Union finance ministry, former broke the monopoly rights of to build private participation in infras-
Haldea had warned the government power distribution companies, while the tructure sectors.
against signing on the sovereign guar- latter clipped the role of the state in vic- He was not unwilling to be feted,
antee clause in the power purchase timising companies for transactions in once asking for rights to the bidding doc-
agreement with Enron. That signal serv- foreign exchange. uments, but more as a claim for author-
ice ensured that the government didn’t The offences were made into civil ship than to earn anything. It was a well-
land up in a costly arbitration, though it ones from criminal, a rare show of trust earned right.

Original Uploaded fast update byhttps://t.me/English_Newspeper_L_Banna_sa

 .
MUMBAI | 16 JANUARY 2021 TAKE TWO 7 <

Used cars on
level cars and used cars, which
is bound to help such compa- NEWSMAKER/ AAKASH CHAUDHRY / MD, AAKASH EDUCATIONAL SERVICES
nies. Meanwhile, the changing

A tutorial for growth

demand-supply dynamics in has been exponential since, underscoring
used cars has led to a six to sev- India’s vast market for private coaching
en per cent price increase, and competitive examination prepara-

high speed
Srivastava added. tion. Blackstone picked up a 37.5 per cent
Interestingly, luxury car-
makers are reporting a surge in
Talks for a partnership stake in AESL in 2019 when the compa-
ny was valued at $500 million. Today,
this segment, too. Santosh Iyer, with Indian unicorn AESL has 214 centres, 2,50,000 students
vice president, sales and mar- and its valuation has doubled.
keting, Mercedes-Benz India, Byju’s reflect several When AESL acquired MeritNation in
The pandemic has accelerated the second-hand car said this is the ninth year of the
company’s pre-owned (POC) prescient moves by this January 2020 for ~100 crore, many saw
the move as prescient: Merely two
business to the point of a demand-supply imbalance business and to date it has sold second-generation months later, the Covid-19 pandemic
over 21,000 pre-owned cars. threw a curveball no one could have
“Our POC business has promoter anticipated. “The pandemic was a game-
grown by 20 per cent y-o-y and changer,” Chaudhry says. Overnight,
it outperforms the new car sales GEETANJALI KRISHNA their 214 centres had to convert to online
under the current challenging teaching. His bullishness on edtech paid

C
circumstances,” said Iyer. The irca 1988. Aakash Institute, a tiny off; the company already had the infra-
company sold more than 350 private coaching outfit is launched structure in place to make the transition.
pre-owned cars through its out of a room in Ganesh Nagar, ing — what Chaudhry, 41, refers to as the And MeritNation, an online tutoring plat-
online store after the pandemic West Delhi. Cut to 2019. Private equity “core” of the company’s philosophy. form, proved to be a huge asset.
and it expects this number to firm Blackstone picks up 37.5 per cent Though student reviews online attest Unsurprisingly, much of AESL’s
grow in 2021. stake in the same company, valuing it at that the teaching quality across their cen- investment lately has been on developing
Used cars remain a viable around $500 million. Today, as Aakash tres is often patchy, it’s a problem most their technological capabilities, includ-
alternative for a large section of Educational Services Limited (AESL), the franchisee businesses face. Meanwhile, ing content recording studios and hiring
first-time customers, especial- well-known test preparatory services students continue to sign up, a sign that teachers especially trained to deliver dig-
ly in a challenging economic institution, holds talks for building a the father-son duo’s formula has served ital content. In December 2020, AESL
environment, Pandey pointed strong partnership with Bengaluru-based them well. launched yet another concept — a satel-
out. This trend is a lot more pre- unicorn Byju’s, at an estimated $1 billion, Industry observers comment that the lite-enabled classroom in Nuh district,
dominant in small-town India, this could be one of the world’s biggest growth trajectory of AESL mirrors Haryana. The idea was to give students
which is why Mahindra is rap- edtech deals. Chaudhry’s. After an execu- who may not have access to
idly making tracks for remote If the man at the helm, Aakash tive MBA from Harvard, After an executive a good internet network, the
cities such as Beri (Haryana), Chaudhry (his father J C Chaudhry Chaudhry worked in Infosys MBA from Harvard, opportunity to get a class-
Betul (Madhya Pradesh), founded and named the original insti- Technologies and Cognizant Chaudhry room-style education with a
Purnea (West Bengal) and tute after him and the moniker stuck), is Technology Solutions before worked in Infosys virtual teacher. With plans
Ghatol (Rajasthan). on tenterhooks, it certainly does not joining the family business Technologies to open more such centres in
Pandey noted the price dif- show. “We’re on an exciting journey right in 2006. At that time, his and Cognizant remote areas across India in
T E NARASIMHAN ference between used and new now,” he says. “Our pedagogy has trans- father was teaching as well as Technology the coming months, AESL
Chennai, 15 January
IN TOP GEAR (in million units) Used cars Newcars cars has widened, especially
after the BS-VI implementation,
lated well into the virtual space and stu-
dents have accepted the transition well.”
trying to manage the 25-odd Solutions before
brick-and-mortar centres he joining the family
seems poised at the base of a
steep growth curve fuelled
had expanded across India. business in 2006

U
sed car sales overtook 4.3 which increased the prices of In 2020, 1,583 students from Aakash by the shift towards virtual
those of new cars some
4.1 new vehicles. A five-year-old Institutes across India qualified for the The business used to be, as education hastened by the
3.8
years ago, but the eco- 3.6 3.37 3.5 vehicle, which ran for 50,000- engineering entrance exam, JEE he calls it, purely “chalk and talk”. With Covid-19 pandemic and lockdown. “We’re
3.28
nomic slowdown and then the 3.04 2.77 60,000 km, would cost only 50 Advanced, and 140 featured in the top his techie background (he has an engi- expecting our virtual platforms to account
pandemic have accelerated that per cent of the new vehicle now. 500; and 82,000 Aakash tutees qualified neering degree as well and professional for at least 30 per cent of our total rev-
trend. So much so that for the The other factor that is help- for the medical entrance examination, experience), Chaudhry was, from the enues in the coming years,” he says.
first time, there is a demand- ing the surge in demand is that NEET, and bagged all three top positions very start, bullish about edtech. By 2014, Meanwhile, negotiations with Byju’s
supply gap in this market. financiers are more open to in the exam. AESL had developed several online are on, but could take several weeks.
In the April-November peri- financing used cars purchases, Over the years, AESL has evolved a modes of learning, ranging from video “Whatever the outcome, one thing is
od of FY21, new car sales shrank unlike in the past. centralised curriculum, content devel- lectures to internet-based classrooms. clear,” Chaudhry says. “We will continue
26.14 per cent, whereas used car N/A The surge is benefiting all opment and faculty training team to He also opened new centres in tier two to run this business with the same pas-
sales grew 22 per cent. And, as 2017 2018 2019 2020 2021 players. Sameer Malhotra, chief ensure that all its centres, some fran- and three cities and towns all over the sion and commitment for no one knows
car-makers still struggle to run Source: Indian Blue Book, industry estimates & SIAM; data for financial years executive officer, Shriram chised, offer a certain standard of teach- country. The growth in AESL’s revenues it better than us!”
assembly lines to capacity and Automall, one of the largest
their dealers to push models same period last year. But the increased to 25-27 per cent platforms for pre-owned vehi-
from their showrooms, used car enquiry level jumped to from 18 per cent last year, with cles, said they used to sell 4000-
sales teams have seen demand 1,751,928 from 1,653,264 in 2019. buyers seeing security in war- 5000 cars every month last year.
surge past supply. “People are moving away ranties and certifications that This year, the number has
The reasons are related: from public transport and they offer. almost doubled to 10,000.
Slower purchase of new cars shared mobility, and the desire Mahindra First Choice Realisations also rose by 5-7 per
means that there are fewer old for personal mobility has Wheels, part of the Mahindra cent per car owing to the
cars coming into the market for increased. But the uncertainty Group, reported a 20 per cent demand-supply mismatch.
exchange. The exchange seg- on income and growth in sales in Gajendra Jangid, co-founder
ment, which used to account jobs lead people to the July to and CMO, Cars24, one of the
The organised
for 26-27 per cent of new car conserve cash,” December period largest online transaction plat-
players’ share in
sales, has dropped to 6-7 per said Shashank over the same peri- forms for pre-owned vehicles in
this market has
cent. On an average, a new car Srivastava, execu- od last year, and India, said compared to pre-
increased to
depreciates anywhere between tive director, mar- the company’s Covid levels, traffic has
25-27% from 18%
30-50 per cent in three or four keting and sales, managing director increased 4X.
last year, with
years. This is also the age brack- Maruti Suzuki. A and CEO Ashutosh First-time buyers have
buyers seeing
et where customers prefer to recent report by Pandey targets increased from 45 per cent of
security in
buy cars. But the “shortage” in Ernst & Young growth of 25 per total buyers in the pre-Covid
warranties and
the exchange business has stated that around cent in 2021-22. era to 55-60 per cent post-
certifications
meant that the average age of 57 per cent of the The company sells Covid. “First-time buyers most-
that they offer
used cars has increased from car buyers were around 14,000 ly prefer hatchbacks, so month-
five or six years to nine years. likely to buy a pre- vehicles through ly sales of these cars on our
The country’s largest car- owned car. its network every month. platform have almost doubled
maker, Maruti, for example, saw Inevitably, the shift has Despite the pandemic, it has over pre-pandemic times,”
an eight per cent drop in the attracted the organised sector opened over 80 stores, taking Jangid added. In fact, Cars24’s
replacement segment. Maruti’s in a bigger way to an area earli- the total to over 1,000 stores business recovered to 100 per
used car arm sold 184,112 units er dominated by unorganised across the country. cent in August 2020 and saw it
in 2020 (April to December) players. The organised players’ The pandemic has also seen enter the coveted unicorn club
against 3,240,011 units in the share in this market has a demand shift towards entry- in November 2020.

‘We hope our investors will compelled to defer the payments to credi-
tors, including bondholders. We have pro-
posed to reschedule all debt payments

continue to support us’

through proposed schemes of arrange-
ment, post which all the dues will be
addressed. We are putting our best efforts
and we hope that our investors will value
Srei has been in the spotlight for various their long-term confidence in our group
reasons, the most recent being its and continue to support us.
decision to freeze interest payment and Our consolidated borrowings at the end
redemption of non-convertible debentures. of September 30, 2020 stood at ~30,000
HEMANT KANORIA, chairman, Srei, tells crore against which we have sufficient
Abhijit Lele and Ishita Ayan Dutt that the assets and securities.
company had to take this decision for the first
time in 30 years due to the pandemic and How many of your borrowers opted for
related regulatory approach. Kanoria also says debt recast under the Covid-19 regulatory
there are potential investors who can be package and what was the amount
tapped as soon as the company is able to involved (for SIFL and SEFL)?
realign its repayments with the customers’ More than half of our borrowers have
cash flows. Edited excerpts: requested for one-time restructuring of
their loans. Our priority, at pres-
ent, is to accelerate collections and
Do you see a recovery in business? monetise various arbitration
There is definitely recovery in the econo- awards. Despite the challenges, we
my in the last eight-nine months, but at expect that given the underlying
present it has remained primarily in a few assets against our loans, we will be
essential sectors. Our borrowers from the HEMANT KANORIA in a position to recover our loans
infrastructure, construction and mining focus now is only on Chairman, Srei
over a period of time.
sectors are still struggling and the recovery equipment financing.
in these segments will take more time. The need for fresh capital seems
The government and the RBI (Reserve Where does the resource position imminent for most financial sector
Bank of India) have taken a number of currently stand? What is the total players. What are the plans for both
steps to revive the economy. All eyes are outstanding? entities to bring in fresh equity?
now on the Union Budget, which is The company has enough securities and For NBFCs, money is the raw material. We
expected to provide the much-needed realisable value of loan portfolios/assets, are continuously exploring opportunities
push to the infrastructure sector. which would take care of all payments. to strengthen our capital base and remain
Our consolidated assets under manage- confident of raising resources. Given our
Srei had set a timeline for exiting its ment were at ~43,000 crore at the end of track record and strong franchise, there
infrastructure financing business, but September 30, 2020. are potential investors who can be tapped
with the government looking at big public We are presently concentrating on the as soon as we are able to realign our repay-
investment, would you revisit your co-lending model for equipment financ- ments with our customers' cash flows.
exit plan? ing business by partnering with a number
Historically, in addition to the core busi- of banks. In keeping with the times, we RBI has started a special audit. What is the
ness of equipment financing, Srei has been have also adapted to the digital era by reason for it and is the process through?
financing projects and offering structured becoming the first company to take our Has the RBI put any curbs on taking on
loans, directly and through SPVs, which core business of equipment financing new business?
have supported the infrastructure devel- online and partnering with a digital plat- The regulator, in its authority, can at any
opment in India. Our model has been to form. The idea is to leverage the opportu- time conduct inspections / audits / special
finance against assets / projects/ securities, nities and efficiencies that technology can audits of entities under its supervision.
which are monitored continuously. The bring to our sector. The company has been gradually reduc-
NBFC model has allowed us that flexibility. ing its loan portfolio by exiting structured
However, over the last few years, since While the NCLT has granted you relief finance/infrastructure project finance
NBFCs were directed to follow guidelines on with the moratorium order, the decision books and is also going in for co-lending
provisioning and other norms, just like to freeze interest payment and partnerships with banks. We will contin-
banks, we have been reducing our loan redemption of NCDs appears to have ue to finance in segments like construc-
book gradually. What is most important for hurt your reputation. Would you look at tion, mining, healthcare, IT and agricul-
us is the recoverability of the loan in the relaxing the six-moratorium to regain tural equipment since we have created a
event that our obligor faces any business depositors’ trust? strong franchise and acquired deep
challenge or if the projects get delayed due Due to the Covid-19 pandemic and related expertise over the last 31 years. We do not
to externalities. Given the present regula- regulatory approach, for the first time in propose to enter new business lines at
tions and overall economic macros, the our history of more than 30 years, we are this juncture.
Original Uploaded fast update byhttps://t.me/English_Newspeper_L_Banna_sa
 8 WORLD
>
MUMBAI | 16 JANUARY 2021 1

IN BRIEF
US blacklists Xiaomi, Cnooc in Biden’s $1.9-trn plan
Indonesia earthquake kills offers bridge for
at least 35, injures hundreds Trump’s late anti-China push hard-hit economy
PETER MARTIN & NICK WADHAMS ANN SAPHIR
15 January 15 January

T
he Trump administration black- US President-elect Joe Biden’s
listed Chinese smartphone man- (pictured) proposal to pour $1.9
ufacturer Xiaomi for alleged mili- trillion into a hobbled econ-
tary links along with the country’s omy could lay the foundation
third-biggest oil company over its drilling for a surge in jobs and spend-
in the South China Sea, part of a final push ing that many economists say
to ratchet up pressure on Beijing before is needed to avoid long-term
President-elect Joe Biden takes office. damage from a record-break-
Xiaomi was one of nine firms added to ing pandemic recession.
A strong, shallow earthquake shook Indonesia’s Sulawesi the Defense Department’s list of Chinese Analysts had already
island just after midnight, toppling homes and buildings, military companies, a move that will begun marking up their fore- Powell bats down
triggering landslides and killing at least 34 people.
More than 600 people were injured during the magnitude
restrict US investments in its securities.
Other firms include state-owned plane-
casts for economic growth this
year after last week’s elections
bond-taper talk
6.2 quake, which sent people fleeing their homes on maker Commercial Aircraft Corp. of China, in Georgia delivered control of Federal Reserve Chair Jerome
Friday. Authorities were still collecting information about or Comac, which is central to China’s goal both houses of Congress to Powell sought to stamp out talk
the full scale of casualties and damage in the affected areas of creating a narrow-body plane that can Democrats. Many, though, of a premature reduction in the
PHOTO: REUTERS compete with Boeing and Airbus. Xiaomi Corp plunged a record 10 per cent after the Trump administration had pencilled in smaller pack- central bank’s massive bond-
Meanwhile, the Commerce Depart- blacklisted China’s No. 2 smartphone maker PHOTO: REUTERS ages, more along the lines of buying campaign, saying “now
UK economy shrank by 2.6% ment’s move against China National
Offshore Oil (CNOOC), the nation’s main
the $892 billion stimulus
passed in December.
is not the time” to hold that dis-
cussion. “We know we need to
in Nov as services suffered deepwater explorer, denies it access to US
technologies without specific permission.
Blacklisting jolts Tech war backfires The incoming Democratic
administration’s proposed
be very careful in communi-
cating about asset purchases,”
The British economy looks set to fall back into recession
after official figures on Friday showed that it shrank by
It follows a December decision to blacklist
more than 60 other Chinese companies.
China’s ambitions on automakers package provides targeted aid
that economists say delivers
he said Thursday during a vir-
tual discussion. “Now is not the
2.6 per cent month-on-month in November, when
much of the country was in a second lockdown. The
“This measure by the Trump adminis-
tration once again demonstrates to the
to take on Boeing as chips run short the most effective economic
boost, including an increase to
time to be talking about exit. I
think that is another lesson of
Office for National Statistics said that as a result of the public, to the international community, A US move to increase pressure on Automakers around the world are the current extra weekly bene- the global financial crisis, is be
fall, the economy is 8.5 per cent smaller than its pre- what is unilateralism, double standards Chinese companies could threaten the shutting assembly lines because of a fit to the unemployed, to $400 careful not to exit too early.”
pandemic peak. When the pandemic struck last spring, and bullying,” China Foreign Ministry nation’s ambitions to compete with global shortage of semiconductors that from $300. It would also direct
the economy contracted by up to a fifth over the first half spokesman Zhao Lijian told a briefing in Boeing and Airbus. in some cases has been exacerbated by $170 billion toward reopening particularly women, to leave
of the year, before a summer easing of restrictions saw Beijing. “The Chinese side will take nec- The Trump administration’s the Trump administration’s actions schools, the closure of which their jobs. And it would put an
the economy recover a chunk of those losses. AP essary measures to ensure the legitimate addition of Comac to a Defense against key Chinese chip factories, in many parts of the country extra $1,400 into the hands of
and lawful rights and interests of Chinese Department list of companies with industry officials said. has forced millions of workers, most Americans . REUTERS
companies, and we will stand by our com- alleged Chinese military ties comes The shortage, which caught much of
JPMorgan profit jumps panies, to protect, to uphold their rights
and interests in accordance with law.”
just days after a breakthrough in the
state-backed jet manufacturer’s effort
the industry off-guard and could
continue for many months, is now Impeachment trial could
42% on reserve release Spokespeople for Xiaomi, Cnooc and to win customers when an Indonesian causing Ford Motor Co, Subaru Corp and

JPMorgan Chase reported a much better-than- expected

Comac had no immediate comment. Chi-
na National Aviation didn’t respond to a
airline agreed to buy its planes. If
President-elect Biden doesn’t reverse
Toyota Motor Corp to curtail production
in the United States.
begin on Inauguration Day
42 per cent jump in fourth-quarter profit on Friday, driven request for comment. the move, American investors will be Automakers affected in other US President Trump’s of impeachment to the
by the release of some of the reserves it had built up The new raft of curbs mark a late push prohibited from buying securities of markets include Volkswagen, Nissan impeachment trial could Senate. Democrats hoping to
against coronavirus-driven loan losses and continued by President Trump to ensure his pressure companies on the list, and will have to Motor and Fiat Chrysler . The problems begin on Inauguration Day, avoid interrupting Biden’s
strength in its trading and investment banking units. The campaign against China stays in place long divest their holdings by November. stem from a confluence of factors as auto just as Democrat Joe Biden inauguration have suggested
bank's net income rose to $12.1 billion, or $3.79 per share, after he leaves office next week. While That won’t impact Comac because it’s manufacturers compete against the takes the oath of office in an holding back until the new
in the quarter ended Dec. 31, from $8.5 billion, or $2.57 per Biden and many Democrats say they opp- not publicly traded, but other sprawling consumer electronics ever-more-extraordinary end president has a chance to get
share, a year earlier. Revenue rose 3 per cent to $30.2 ose Trump’s tactics on China, the restr- companies Trump initially put on industry for chip supplies. Consumers to the defeated president’s his administration going.
billion. During the quarter, JPMorgan released credit ictions will give the new president incr- such lists have since found have stocked up on laptops, gaming tenure in the White House. What is clear is that the trial
reserves of $2.9 billion, boosting its profit. REUTERS eased leverage over Beijing when his team themselves targets for more severe consoles and other electronic products The timing is not set and will be unlike any other in the
negotiates on trade with leaders of the sanctions, including curbs on access during the pandemic, creating tight chip depends heavily on when nation’s history, the first for a
world’s second-largest economy. to American technology. supplies throughout 2020. House Speaker Nancy Pelosi president no longer in office.
Higher costs, weak revenue BLOOMBERG BLOOMBERG REUTERS decides to transmit the article AP

cloud Citi’s quarterly profit

Citigroup Inc reported fourth-quarter profit that beat
market expectations on Friday, but that failed to impress
Wall Street as higher costs and a fall in revenue across its
consumer business weighed on the results.
China set to edge N KOREA HOLDS MILITARY PARADE AS KIM SHOWS OFF NUCLEAR MIGHT
North Korea has unveiled a
Citi's profit fell 7 per cent even as its peers JPMorgan and
Wells Fargo & Co posted profit growth in the fourth
quarter. Citi shares, which have been trading at a 10-
out US as world’s new type of submarine-
launched ballistic missile,
described by state media as
month high, fell about 2.5 per cent. REUTERS
biggest economy "the world's most powerful
weapon". Several of the
missiles were displayed at a
PIA aircraft ‘held back’ Will overtake US by 2028, two years
parade overseen by leader
Kim Jong-un PHOTOS: REUTERS

at Kuala Lumpur airport earlier than previously estimated

A Pakistan International Airlines (PIA) plane with 170 TOM HANCOCK & ENDA CURRAN
passengers on board was held back in Malaysia over a 15 January
lease dispute case between the cash-strapped national
flag carrier and an Irish company pending in a UK court. China’s economic ascent is accelerating barely a year after its
The PIA in a statement posted on Twitter said a Boeing 777 first coronavirus lockdowns, as its success in controlling Covid-
plane was stopped by the Malaysian authorities at the 19 allows it to boost its share of global trade and investment.
Kuala Lumpur airport with 170 passengers. The national The world’s second-largest economy is set on Monday to
carrier has termed the decision to seize the plane as a report gross domestic product increased 2.1 per cent in 2020,
"one-sided" court decision. PTI the only major economy to have avoided a contraction, accord-
ing to a Bloomberg survey of
economists.
That should ensure its
FULL SPEED AHEAD
Amazon faces class-action share of the world economy China's share of global
rose at the fastest pace this cen- economy is expected to
tury. Global output fell 4.2 per grow at a faster pace
lawsuit over eBook pricing
ARUNDHATI SARKAR
cent last year, according to the
World Bank, pushing China’s
share of it to 14.5 per cent at
Global temperatures in 2020 among
highest on record, says WMO report
Bengaluru, 15 January 2010 dollar prices — two years
earlier than expected.
Amazon.com was slapped And it’s not just a blip that’ll
with a class-action lawsuit on reverse once other large econ-
Thursday accusing the e- omies begin to recover as vac- Global temperatures in 2020 were among task of the 21st century.” WMO said the
commerce giant of inflating cines are rolled out. Econo- the highest on record and rivalled 2016 as differences in average global tempe-
the prices of ebooks in collu- mists expect China’s GDP will the hottest year ever, according to ratures among the three warmest years,
sion with some publishers. The lawsuit alleges that expand 8.2 per cent this year, international data compiled by the World 2016, 2019 and 2020, were indisting-
The lawsuit alleges that Amazon and the five continuing to outpace global Meteorological Organization and uishably small. The average global
Amazon and the five largest largest US publishers peers including the US. China released on Thursday. temperature in 2020 was about 14.9 C, or
US publishers, collectively agreed to price restraints is now on course to pass the US The heat came even as a global about 1.2 C above the 1850-1900 pre-indu-
called the 'Big Five', agreed to that cause consumers to as the biggest economy in Source: IMF, World Bank, McKinsey & economic slowdown from the Covid-19 strial level. That approached the
Company (in %)
price restraints that cause overpay for ebooks 2028, said Homi Kharas, dep- pandemic cut deeply into emissions from preferred 1.5 C lower limit of temperature
consumers to overpay for uty director for the global econ- fossil fuels, adding evidence that carbon increase the 2015 Paris Agreement on
eBooks purchased from them ment. About 90 per cent of omy and development program at the Brookings Institution, dioxide concentrations already in the A truck drives through a deforested plot climate sought to avert.
through a retail platform eBooks are sold through two years faster than he previously estimated. After withstanding atmosphere have set the planet on a of the Amazon in Brazil PHOTO: REUTERS All five datasets surveyed showed that
other than Amazon.com. Amazon, the largest US Trump’s trade war, China is deepening economic ties within warming track. The WMO report included 2011-2020 was the warmest decade on
The lawsuit comes a day eBooks seller, the lawsuit Asia and Europe and looking to domestic consumption to power data from the US National Oceanic and with 2016 as the warmest year on record, and NOAA said the seven
after Connecticut said it was claimed. its next phase of growth. President Xi Jinping said this week Atmospheric Administration and the UK record.The news is "yet another stark warmest years since record-keeping
investigating Amazon for Law firm Hagens Berman, that “time and the situation” were on the country’s side in a new Met Office, both of which ranked 2020 as reminder of the relentless pace of climate began in 1880 have occurred since 2014.
potential anti-competitive bringing the case, in 2011 filed year marked by domestic turmoil in the US. If its local virus con- the second-warmest year on record, as a change, which is destroying lives and There is at least a one-in-five chance that
behaviour in its business sell- a similar lawsuit against trol success continues, the pandemic could help China “solidify cooling trend called La Ninaa failed to livelihoods across our planet," UN the average global temperature will
ing digital books. Apple Inc and the 'Big Five' its position in the global economy,” said Ka Zeng, director of tame global temperatures. NASA, whose Secretary General Antonio Guterres said. temporarily exceed that limit by 2024,
Amazon declined to com- over ebook prices. REUTERS Asian studies at the University of Arkansas. BLOOMBERG data was also included, said 2020 tied “Making peace with nature is the defining according to a WMO analysis. REUTERS

THE BS CROSSWORD #3350 BS SUDOKU #3259

ACROSS: Violet (3) at home (3,2) president’s totty (5)
22 Good enough reason for getting 4 Quiet person fiddling cash (9) 26 Hoped to change the hothead Very Difficult:
1 Look at more dresses (4) nothing right inside (6) 5 Born heartless, dry and to a dullhead ? So gave the ««««««
3 The first of several parking in 23 Letters calling for an answer ? (4) deprived (5) medicine ! (5) Solution on Monday
turn (4) 25 Issued instructions for concise 6 Arts return what in Panama ? 28 Is 'e able to sound like this,
6 Southern depressions impedes edition (7) (5,3) Scotswise? (5)
progress ! (5) 27 Man once ill, perhaps ? (7) 7 Elderly sundials. (3,6)
10Make persistent requests to 29 Fight with brother broke 8 Jazz be hanged! (5) SOLUTION #3349
bring in half prunes (9) the law (5) 9 Padded jumpers? (5)
11 They spread out in all directions 30 Break up one main cause of lung 15 Getting stubborn beast into
SOLUTION TO # 3258
(5) disease (9) trouble (9)
12Minute change of agenda 31 Pudding is dear (5) 17 Supporters in an elevated
succeeded in controlling ... (7) 32 Diamonds seen by river in position (9)
13 Opening for the weary (7) partial darkness (4) 19 Turn up with medication HOW TO PLAY
14 Accepted it was all right to get 33 River flowing through city - when there's time for taking Fill in the grid so that every
onto (4) Newcastle (4) things in (9) row, every column and
16 A shock for Mother, after 20 High-flyer once hindered by every 3x3 box contains the
repairing a rut (6) DOWN: literary dean (8)
digits 1 to 9
18 One might adopt this over the 1 Recurring theme disrupts veto 24 Certain deaths caused by
Ouse, initially by instinct (3) limit (4,5) swinging moods (5)
21 Half a dozen that belong to 2 Enter quickly for ginger beer 25 Blair’s first to meet the

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OPINION 9

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Unicorns coming of age

Punjab’s real problem

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Law of the land Race against the times

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Fairer way to help developing economies

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 1
QUICK TAKE: IMPROVING SIGNAL FOR VODAFONE IDEA
The Smart
“Govt bond yields rising too fast can be

Investor
Voda Idea share price (~) Shares of Vodafone Idea surged 10.7% on Friday. With this, problematic for financial markets. A
14 30-50 bps rise in yields over 2-3
the stock has gained 37% in one month. While the telco is weeks could potentially add to
10.05 12 estimated to post a loss of ~6,000 crore in the December
MUMBAI | market pressure”
10 quarter, analysts expect the churn in its subscriber base to TAI HUI, Chief Asia Market Strategist,
16 JANUARY 2021 13.6 8 reduce further and ARPU to improve. Any fundraising JPMorgan Asset
Dec 1,’20 Jan 15,’21 plans could help ease concerns further Management Securities
WWW.SMARTINVESTOR.IN.FOR INFORMED DECISION MAKING <

PSUs warm up to anchor investors

Govt for first time RULE BOOK for shares by getting marquee
investors on board. Other inves-
exercises provision > Up to 60% of shares in qualified tors, particularly high net-worth
individuals (HNIs), usually take
for IRFC issue institutional buyer quota can be
cues from the QIB demand. Some
allotted to anchor investors
say exercising anchor allotment
SAMIE MODAK > Allotment has to be made one will prompt foreign investment
Mumbai, 15 January trading day in advance banks to go for PSU IPO mandates.
> Shares allotted are subject to 30- “Investment bankers have the
Benchmarks slide as
M
ore than a decade after day lock-in from date of allotment liberty to allot shares under the
its introduction, the gov- anchor book. To exercise this bene-
> Minimum of five investors required
Biden’s $2-trn relief
ernment has decided to fit, many foreign players will
use the provision of anchor allot- for IPOs worth ~250 crore or more aggressively go for IPO mandates
ment for initial public offering > Shares allotted to anchor investors for good public sector companies,”
(IPO). said another investment banker.

plan sparks worries

ILLUSTRATION BY BINAY SINHA can’t be lower than issue price
Indian Railway Finance Allotment to investors applying
Corporation (IRFC), whose ~4,600- in the IPO has to be done on a pro-
crore IPO opens on Monday, has portionate basis. For issues that are
become the first offering by a pub- prompts other investors also to cretion of investment bankers han- Sebi rules allow up to 60 per hugely oversubscribed, large
lic sector undertaking (PSU) to apply,” said an investment banker. dling the IPO. Anchor investors, cent of the shares in the QIB quota investors miss out on garnering BS REPORTER & AGENCIES INDIA VIX
allot shares to anchor investors. Industry players said the provision however, are barred from selling to be allotted to anchor investors. adequate subscriptions. Mumbai, 15 January 25
Industry sources say the gov- would come in handy for forth- the shares for at least 30 days from Typically, 50 per cent of the overall Experts said using anchor allot-
ernment will use the provisions for coming IPOs like those of RailTel the day of allotment. IPO forms the QIB quota. Nearly ment could be a double-edged Benchmark indices posted their big-
20.64 24
most of the upcoming IPOs. Corporation and Life Insurance Introduced in 2009, the con- 30 per cent of the overall issue size sword. “Having a good anchor gest drop in nearly a month, amid a 23
“For large IPOs like that of Corporation. cept is similar to that of a corner- can be raised from anchor inves- book can prop up things. However, decline in global markets, after US
IRFC, getting anchor investors on Almost all private sector IPOs stone investor in developed mar- tors. Some IPOs have a mandatory if an issue fails to get good inves- President-elect Joe Biden’s $1.9-trillion
24.01 22
board brings has benefits. You can allot shares to anchor investors -- kets like the US and UK. Under 75 per cent QIB quota. In such tors on board or if the anchor por- Covid-19 relief plan sparked concerns
get nearly a third of the issue cov- mainly mutual funds, insurance this, the issuer can allot shares IPOs, anchor investors can play an tion remains undersubscribed, it over an increase in corporate taxes.
21
ered even before the IPO opens. companies, and global funds -- one from the qualified institutional even bigger role. can also send a negative signal to The dollar rose, while oil prices 20
Also, if large marquee names trading day prior to the issue open- buyer (QIB) quota to institutional Through anchor allotment, a the market,” said the banker came off their 10-month highs as inves- Jan 8 2021 Jan 15
invest under the anchor quota, it ing. Shares are allotted at the dis- investors before the IPO opens. firm can demonstrate the demand quoted above. tors mounted risk-off bets.
The Sensex fell 550 points, or 1.1 per SENSEX NIFTY
cent to end at 49,035, while the Nifty 50,000 14,700
declined 162 points, or 1.1 per cent to

IT firms ride on deal wins, digital demand

49,584.2 49,600 14,433.7 14,600
close at 14,434. This was the biggest sin-
gle-day decline for both indices since 49,200 14,500
December 21. The Sensex had managed 48,800 14,400
to post its 11th straight weekly gain. 49,034.7 14,595.6
RAM PRASAD SAHU quarters and digital uptick helped given the furloughs, was margin However, Friday’s correction 48,400 14,300
Mumbai, 15 January Infosys report the highest growth performance. Barring Infosys pruned weekly gains to 1.4 per cent. Jan 14 Jan 15 Jan 14 Jan 15
Compiled by BS Research Bureau
(among the top four) of 5.3 per (slight expansion), all the other The India VIX index soared 4.3 per cent Source: Bloomberg/Exchanges
Large deal wins, a sharp expan- cent on a constant currency basis. companies posted a significant to 24, sparking concerns that the mar-
sion in margins, and expectations TCS, too, posted strong growth improvement in margins. Wipro ket could have got overheated. Mid- “Biden’s big fiscal plans are out of
of a return to double-digit growth led by a broad-based uptick across had the best sequential growth in and small-cap indices fell in line with the bag, and now the current dire situ-
were the key themes in the its key verticals. On an annual margins to 21.7 per cent, which is the benchmark indices. ation is countering US reflation hopes.
December-quarter performance basis, HCL Tech crossed the $10- the highest in 22 quarters. Most global equities fell, while the It is unlikely to get any better soon,
of the top four IT firms. billion mark in sales for the first While costs will play catch-up, US futures market pointed to a lower given the currently slow rate of vaccine
Without exception, the top time in CY20. Infosys and HCL analysts say some of the margin opening on Wall Street during India’s rollouts,” said Antoine Bouvet, a senior
four majors beat Street estimates Tech also revised their revenue gains are structural and should market hours. rates strategist at ING Groep.
across all parameters — revenues, and margin guidance upwards for sustain over the medium term. Biden’s latest relief plan — which “The $1.9-trillion ‘American Rescue
profitability, or net profit growth. FY21 and Q4, FY21 respectively. Near-term margins, however, follows the $900-billion package Plan’ failed to uplift the sentiment.
However, what stood out were Amit Chandra of HDFC could see some pressure, given announced last month — includes Investors can resort to profit booking
the large deal wins reported by the Securities said: “Infosys surprised STRONG Sales Growth Ebit margin Chg in wage hikes in the current quarter measures like more direct payments to as the near future trend of the market
big two, Tata Consultancy
Services (TCS) and Infosys. While
the Street with higher than
expected large deal wins. The
REVENUE, TCS
($bn)
5.7
(%)
4.1
(%)
26.6
bps
40
and annual increments in April.
The revenue and margin per-
US citizens and local government
bodies to boost spending and revive
will depend on Budget expectations,
third quarter results and foreign
TCS got deals worth $6.8 billion in strong deal pipeline across the IT MARGIN Inofsys 3.2 5.3 25.4 7 formance also helped companies the economy. inflows,” said Vinod Nair, head of
the quarter, the clear outlier has majors, and acceleration of deci- GROWTH HCL 2.6 3.5 22.9 130 such as Infosys and HCL Tech A Bloomberg report said optimism research at Geojit Financial Services.
been Infosys. The company sion making after being put on Dec 2020 quarter post their highest ever net profits. surrounding the US aid package had IT stocks led the market fall on
reported a large contract value of hold in the June quarter point to Wipro 2.0 3.4 21.7 245 This, coupled with high cash con- helped spur reflation trade, but the Friday. Tech Mahindra fell the most at
$7.13 billion, its highest ever; half robust growth visibility for the top Ebit: Earnings before interest and taxes; Growth is on a constant currency basis version, will allow the top IT com- plan is far from a done deal. 4.4 per cent followed by HCL
Change in basis points and sales growth are QoQ Source: Companies, analyst reports
of this was on account of a multi- four IT majors in FY22.” panies to maintain their div- The proposal could be watered Technologies, which declined 3.7 per
year agreement with German auto Given the deal momentum, idends or use funds to acquire and down under Congressional opposition, cent. Bharti Airtel rose 3.8 per cent,
major Daimler. both TCS and Infosys indicated Global IT research and adviso- traditional (legacy) services to also invest in digital capabilities. and there’s the possibility that some most among Sensex components, after
For TCS, large deals included they would post double-digit ry firm ISG, which tracks deal grow at 3 per cent for CY21. The Analysts expect the large taxes could rise. MSCI said it will increase the telecom
those with Prudential and growth in FY22. With analysts flows, highlighted the December top four Indian IT firms reported Indian IT vendors to be the key Experts said investors are uncertain major’s weightage in its global indices
Deutsche Bank. expecting Wipro and HCL Tech to quarter was the best ever in terms a single-digit YoY decline in the beneficiaries on the back of mar- whether the relief measures to be rolled next month. The move follows increase
Wipro, which reported its con- also grow above 10 per cent, the of annual contract value. legacy segment, which accounts ket share gains, vendor consoli- out by the Biden administration will be in foreign investment limit in Airtel
tract value for the first time in a coming financial year could be the In addition to digital services, for half the revenues for them. dation, and captive monetisation. enough to spur economic growth, from 49 per cent to 100 per cent.
quarter, won deals of $1.2 billion. first since FY14 when the sector which are expected to grow at over The other key takeaway in This is expected to help them sus- which has been hampered by rising ITC, Bajaj Auto and Bajaj Finance
Deals announced in previous reverts to double-digit growth. 20 per cent, the firm expects the what is a seasonally weak quarter, tain premium valuations. Covid-19 infections during the winter. were among the gainers on the Sensex.

THE COMPASS
IDBI Bank plans loan book
audit ahead of divestment Bad banks: Good idea, but execution remains a worry
HAMSINI KARTHIK Analysts at Kotak strengthened (through the
Report may form basis for valuation in stake sale by govt Institutional Equities question EASING Insolvency and Bankruptcy
The idea of setting up a bad the probable timing of intro- SLIPPAGES (%) Code), recapitalisation and
HAMSINI KARTHIK bank partly funded by the gov- ducing a bad bank in India. reforms remain a doubtful
2015 3.0
Mumbai, 15 January ernment, public sector banks “Creation of a bad bank patch.
and investment trusts is gain- would have been most fruitful 2016 6.3 The idea, however, has
In an effort to identify potential stress in its ing currency with a fortnight three-four years back, just after 2017 5.1 many influential backers, too.
loan book, Life Insurance Corporation of to go for the Union Budget. the asset quality review (AQR) 2018 7.1 In a recent paper, Indian
India (LIC)-owned IDBI Bank has commis- Conceptualised as an entity or earlier when the stress was 2019 3.3 Banks: A Time to Reform?
sioned a detailed audit of its loan assets. akin to an asset reconstruction just building up,” the analysts former Reserve Bank of India
2020 3.7
Sources with knowledge of the develop- company (ARC), its role would note, while adding that estab- governor Raghuram Rajan and
Source: RBI
ment say, audit firm KPMG has been be to absorb toxic assets in the lishing a bad bank today would former deputy governor Viral
appointed for this process and a final report banking system. aggregate but not serve the Acharya said a bad bank could
is expected to be submitted to the bank’s Globally, this concept has purpose observed in other like a bad bank could undo the banks. This is why Narayan serve as a vehicle to aggregate
board in the coming weeks. helped several large banks markets. hard work. insists that without imple- loans, create management
It is also gathered that the audit report come out of stress, especially The other concern is the Ananth Narayan, a banking menting Aravind teams for distressed firms, and
may likely form the basis of valuations for after the 2008 global financial culture of lazy banking or sector expert, and a staunch Subramanium’s (former chief possibly buy and hold dis-
Government of India’s stake sale in the bank. crisis. Citibank, Bank of banks once again resorting to advocate of the bad bank idea, economic advisor) four Rs — tressed assets in a sector like
Responding to an email sent by Business America, and Barclays Bank lending without adequate says, “The concern that the Recognition, Recapitalisation, power till demand returns.
Standard, the bank's spokesperson, however, are examples where a bad checks and balances, making bad bank may create a moral Resolution, and Reform – a “It could provide fall-back
said, “The KPMG exercise was purely an bank has acted as a sponge a comeback. hazard for the system is bad bank may end up being prices for loans sold by PSBs,”
internal process and not for any specific absorbing their bad loans. After five years of rigorous extremely valid.” just another proposition. “The the paper suggested. While
areas /issues.” But, in the Indian context, cleaning up of books, and After all, when there is an idea isn’t to have a permanent there are arguments on both
For the purpose of this audit, loans above does a bad bank hold enough banks across the spectrum entity to soak up bad loans, bad bank,” adds Narayan. sides, the important point is
Rs 50 crore are being closely scrutinised for relevance, given that the stress improving their underwriting focusing on growth may be a But, while recognition of that it shouldn’t end up being
probable default, said a source quoted above. accretion in the system has standards post the AQR, lot easier as against the cau- stress is reasonably taken care another exercise of throwing
With the bank’s provision coverage ratio
at 96 per cent as of September 2020 (highest IDBI BANK: KEY BAD come off significantly? experts fear a shock absorber tious stance currently taken by of and resolution partially good money after bad.

in the sector) and having provided for and/ LOAN METRICS

or written off a huge chuck of its stressed
loans, the anticipation is that fresh, lumpy
stress is unlikely to accrue.
PCR
(%) Gross
NPA (%)
Net
Strong demand may power up Crompton Consumer
“However, in the light of Covid, it makes FY16 57.2 11.0 6.8
sense to reaffirm the position on bad loans,” FY17 55.0 21.3 13.2 Stock trading at 25% YASH UPADHYAYA research analyst at Edelweiss Securities. distribution expansion and new product
said another person aware of the audit. FY18 63.4 28.0 16.7 premium to its 5-yr The lighting segment, he says, is esti- launches. In this backdrop, growth
LIC holds 49.24 per cent stake in IDBI FY19 82.9 27.5 10.1 The stock of Crompton Greaves mated to grow 8 per cent year-on-year momentum is expected to remain
Bank, while the government holds 45.48 per FY20 93.7 27.5 4.2
average; investors Consumer Electricals, India’s largest ceil- (YoY), benefitting from price recovery in healthy over the next two years.
cent shares, as of end-December 2020. This
Q1FY21 94.7 26.8 3.6 should await better ing fan maker, has rallied about 40 per B2C (business-to-consumer) segment Jefferies forecasts a compound
is after factoring in for the minor stake dilu- cent in the last three months. Considering and modest volume growth. annual growth rate (CAGR) of 13 per cent
tion due to the recently concluded qualified Q2FY21 96.0 25.1 2.7 entry point the sustained demand growth for its pro- Moreover, channel checks conducted in top line during FY21-23, and a 100 basis
institutional placement (QIP) for Rs 1,435 PCR: Provision Coverage Ratio; NPA: Non-performing assets ducts, diverse revenue mix, and market by analysts indicate that the unorganised point-plus upside in operating profit mar-
crore which concluded on December 18, Compiled by BS Research Bureau Source: Capitaline share gains in its businesses, the upward sector is yet to recover fully from the gin aided by improving product mix, cost
2020. momentum in the stock is likely to sus- Covid-led disruption to business. control initiatives and superior operating
The government had indicated its inten- Stanley and domestic investors such as Bajaj tain, believe analysts. Since Crompton Consumer operates leverage, according to its base case esti-
tion to completely exit its holdings in the Allianz, Edelweiss and Tata AIG. Brokerages estimate the company’s in product categories within the electri- mates.
bank in Union Budget 2020, though there According to sources, some of the inves- revenue to grow in the 15-19 per cent cals space with low/medium organised The Crompton Consumer stock is cur-
hasn’t been any material progress in this tors who have participated in the QIP may range in the December quarter of finan- sector penetration, this offers a large rently trading at 45x its FY23 estimated
regard. collectively acquire the government's stake cial year 2020-21 (Q3FY21), aided by sus- headroom for growth, said Jefferies in a earnings per share, which is at a premium
In the QIP, apart from state-owned banks in the bank. “Formal talks with these inves- tained demand momentum across its recent note. of over 25 per cent to its 5-year average of
(such as Punjab National Bank, Bank of tors will resume in March,” said the person products. One of the key reasons the company 35x. Corrections could offer a better entry
Baroda, State Bank of India, Indian Bank and quoted above. “The Consumer Durables (CD) seg- reported better-than-anticipated growth opportunity for long-term investors.
Canara Bank) taking a sizeable chunk of the IDBI Bank was placed under Reserve ment is likely to witness robust growth in the first half of FY21 was its focus on On the flip side, muted consumer
issuance, it is gathered that over ten finan- Bank of India’s prompt corrective action in (18 per cent estimate) aided by robust fes- widening its distribution channel. Going spending, resurgence in competition
cial institutions/entities also participated in May 2017 and had made representations to tive sales, strong winter-led heater sales forward, too, the management has reiter- from unorganised players and volatility
the fund raise. These include foreign inves- the RBI for an exit from the restrictive regu- and input cost led price hikes across the ated that benefits accrued will be in raw material prices are key downside
tors such as Societe Generale, BNP Paribas, lations in January 2020. The final decision board (in Q3),” said Amit Mahawar, ploughed back to drive revenue through risks, say experts.
Goldman Sachs, BofA Securities, Morgan is still awaited.
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 .
MUMBAI | 16 JANUARY 2021 THE SMART INVESTOR 11 <

Info Edge rallies on biz revival Strike a deal quickly as home

Potential value-unlocking for shareholders thanks to Zomato IPO propelling stock
YASH UPADHYAYA formance in the long term.
prices may head north
Mumbai, 15 January Media reports suggesting the
Zomato’s listing later this year and
SANJAY KUMAR SINGH REALTY CHECK
Price (~/sq. ft.) Chg over

R
ecovery in the core business potential value unlocking for Info After a prolonged slowdown, there appears to be
and potential value unlock- Edge’s shareholders have only added a real possibility of an upturn in the residential Micro market -Q4 2020 12 months (%)
ing for shareholders with the to the optimism. real estate market in 2021. A recent report from MUMBAI
initial public offer (IPO) of online Zomato has seen a spurt in Jefferies says a new cycle could begin this year as Eastern Suburbs 15,500-17,500 -3
food delivery start-up Zomato have demand on account of restrictions on both end users and investors reenter the market.
triggered a sharp rally in the shares movement and higher preferences It expects inventory to decline to an eight-year low Western Suburbs 16,500-18,500 -3
of Info Edge. for ordering food online. Deepinder by the end of 2021, and prices to rise 10 per cent Thane 7,500-10,000 -3
The stock, which corrected from Goyal, chief executive officer at plus over the next two years. End users who have
its intra-day all-time high of ~5,875.05 Zomato, in a recent tweet said the been sitting on the fence need to act fast.
DELHI-NCR
to end at ~5,044.45 on Friday, is still company reported a 60 per cent year- Golf Course Extension 6,250-10,000 -2
up 42 per cent since the beginning of on-year (YoY) jump in gross merchan- Market may have bottomed out Road, Gurgaon
November and has more than tripled dise value (GMV) on New Year’s Eve. In 2020, the sale of residential units across the Sectors 76-95, Gurgaon 4,000-6,800 0
from its March 23 lows of ~1,580. Despite strong growth in reve- top seven cities fell 47 per cent compared with
Info Edge is one of the key nue, the company, however, 2019. However, on the positive side, inventory Sectors 143-168, 4,000-5,800 -3
players in India’s online classifieds reported net losses. One reason for overhang has reduced 19 per cent from the peak Noida Expressway
industry on the back of its well- CASHING IN OFF TO A FLYER this extreme bullishness, according of 2016, according to data from Anarock BENGALURU
established classifieds and related Figures in ~crore Info Edge has outperformed Sensex YTD to experts, is the Street giving a Property Consultants.
East 4,600-6,400 -2
services offerings in the recruit- higher multiple to Internet-based Developers kept their prices largely stable over
ment, real estate, and matrimonial Revenue Ebitda Net profit Info Edge S&P BSE Sensex businesses, as seen with the recent the past year, but offered discounts where South East 5,000-6,300 -4
segments. It also has investments in FY20 1,312.0 372.6 -237.6 250.0 listing of DoorDash, an American required. Says Shalin Raina, North 5,500-6,700 -4
at least 23 start-ups, including a 22 195.5 online food delivery firm. managing director – residential
YoY in % 14.0 19.1 PTL 200.0 CHENNAI
per cent stake in Zomato. Base But, here’s a word of caution. Even services, Cushman &
The recruitment vertical, FY21E 1,243.0 373.0 248.0 150.0 as investors continue to bet on Wakefield: “In the southern Sholinganallur 5,000-6,500 -1
=100
Naukri.com, accounts for 70 per cent YoY in % -5.3 0.2 LTP 100.0 Internet and technology-related cities, price discounts were lim- Mogappair 5,900-7,500 -1
of the company’s standalone revenue 118.7 stocks, valuations remain uncomfort- ited to 1-2 per cent as these mar-
FY22E 1,507.0 502.0 394.0 50.0 Perungalathur 4,000-5,600 -1
and is the market leader with more ably high at the moment, say ana- kets remained correctly priced
than 90 per cent domestic traffic share YoY in % 21.3 34.6 58.4 0 lysts. On a 12-month forward basis, and were driven by stable eco- KOLKATA
as of March 2020.
Recovery in Naukri’s prospects is
E- Estimate; PTL: Profit to loss; LTP: Loss to profit
Compiled: BS Research Bureau Source: Bloomberg
Jan 1,’20 Jan 15,’21 the Info Edge stock trades at around
160 times, offering limited scope of
YOUR nomic activity and end-user
demand. In other cities, where
East & South East 5,900-6,300 -2
a function of improvement in the further upside. MONEY inventory levels remained North East 3,900-4,200 -4
domestic economy. IT services and technology start- dued. However, analyst remain bull- “We believe most of the positives high, developers had to offer South & South West 5,800-6,800 -1
“As gross domestic product (GDP) ups contribute 43 per cent of Naukri’s ish over the long-term prospects of are already in the price and the stock slightly higher discounts to push sales. But, even Source: Cushman & Wakefield Research India
growth revives in India, it would revenue. Large deal wins and sus- this business. may see a breather before further there they were not very high. Developers had lim-
directly benefit Info Edge’s recruit- tained demand momentum are seen “The company is seeing improved directional move. We advise investors ited headroom to cut prices as they have been services tax), stamp duty, and registration costs.
ment segment growth, which has had aiding hiring activity in the segment, trajectory in smaller towns; owner to wait till the company’s quarterly trending down since 2017.” All those incentives could end as the recovery
a seven-eight percentage point (pp) which is a positive say analysts. listing and brokers are spending results are out before making fresh gathers momentum,” says Subhankar Mitra, man-
historical multiplier effect for every Notably, despite several setbacks higher time on websites,” said ICICI investment decision,” said Ajit Outlook improving gradually aging director, advisory services, Colliers
one pp uptick in GDP growth,” said in recent years, the company has Direct. While a complete recovery will Mishra, vice president – research, The downturn in residential real estate has been International India.
Anmol Garg, research analyst, Motilal managed to grow its real estate search take time, improving trends are vis- Religare Broking. Over 60 per cent of a long one. Average prices across India’s top seven Now that key structural reforms in the sector
Oswal Securities. This should be com- portal 99acres.com, and helped it ible in 99acres. With growing internet analysts covering the stock have cities appreciated by only 25-30 per cent between have been undertaken, and the markets are bot-
pounded by a pickup in demand for break-even. A weak real estate market usage, the domestic brokerage either a ‘sell’ or ‘hold’ rating, accord- 2012 and 2020. “It seems the markets bottomed toming out, investors may re-enter. “They will
IT resources, adds Garg. though meant growth remained sub- expects 99acres to see improved per- ing to data from Bloomberg. out in 2020. Demand picked up during the second have to stay invested for the long term as the days
half of the year, which augurs well for 2021,” says of making 2X returns overnight are behind us,”
Anuj Puri, chairman, Anarock Property says Puri.
Consultants. He adds that residential real estate Mitra says investors should focus on investing
GAIL announces ~1,050-cr share buyback SAIL’s retail book subscribed 2.4x prices may begin to improve from the second half
of 2021 as demand improves and the vaccination
in a house for rental income rather than capital
appreciation, which may accrue only over the long
GAIL (India) announced its share buyback declared an interim dividend of 25 per The retail investor quota of the SAIL shares closed at ~70.2, up drive picks up pace. “Also, considering that raw term. “If you qualify, take the benefit of the
programme of ~1,046.35 crore, on Friday, cent (~2.50 per share) for FY21. GAIL ~2,600-crore offer for sale (OFS) 4.4 per cent. The government material prices, including those of cement and Pradhan Mantri Awas Yojana. The interest subsidy
as it looks to return surplus cash to shares closed down 3.82 per cent on the in Steel Authority India (SAIL) had set the base price at ~64 steel, are rising in India, developers could be forced from this scheme will bring your cost of loan down
shareholders — the biggest being the BSE at ~138.50. garnered 2.4x subscription on apiece. However, most bids to increase property rates,” he says. — close to the rental yield,” he says.
government of India. The government owns 51.76 per cent Friday. Individual investors bid came at ~66 per share, showed Investors should hunt for properties in areas
In an exchange filing, it said the stake and is expected to participate in for nearly 125 million shares, exchange data. Procrastinating could prove costly close to corridors of economic activity. This will
board had given its nod to the buyback the buyback. It stands to get ~583.6 crore compared to the 51.6 million on Following the share sale, the According to Jefferies, affordability is at its best ensure a regular supply of tenants and fetch sound
of 69.7 million shares, at a price of ~150 from the dividend payout, and a further offer. The institutional investor government’s stake in SAIL will ever in 2020-21. With prices and home loan rates appreciation. Engage with large, organised devel-
apiece. The shares on offer represent 1.55 ~541.5 crore if it participates in the portion had garnered more fall by 10 percentage points both at record lows, end users should seal the deal opers only. “The market seems to be in the final
per cent of the total number of fully buyback by tendering a proportionate than 2x subscription on the from 75 per cent, at present. at the earliest. “At present, developers are offering stages of consolidation. Financially weaker players
paid-up equity shares. The board also number of shares. PTI previous day. SAMIE MODAK many incentives, like absorbing GST (goods and are likely to go out of business,” says Puri.

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 12 STOCKS
.>l
MUMBAI | 16 JANUARY, 2021
<

> STOCK
IN THE > Tata Metaliks > Apollo Hospitals > Tata Steel Long Products

NEWS Top BSE500 gainer;

Up 32 per cent
Hits new all-time
high at ~2,615
Hits Upper circuit
at 20 per cent OF THE DAY
this week on BSE on BSE Tata Motors
~721.9 PREVIOUS CLOSE ~2,510.9 PREVIOUS CLOSE ~716.6 PREVIOUS CLOSE Hits 28-month high
~866.2 CLOSE ~2,591.6 CLOSE ~859.9 CLOSE at ~265, Up 42 per cent
p 20% UP p 3.2% UP p 20% UP YTD

NIFTY 50
Company Close (~) % Wt PE Company Close (~) % Wt PE
ADVANCES/DECLINE F&0 SNAPSHOT DAY’S TOP GAINERS DAY’S TOP LOSERS
15 Jan ’21 Chg (%) Con Std 15 Jan ’21 Chg (%) Con Std Futures Cash Premium Futures Cash Discount Company Day’s high Close % chg* 3mth high 52 wk high Company Day’s low Close % chg* 3mth low 52 wk low
Adani Ports 528.0 -1.7 0.6 28.0 55.2 IOC 101.3 -1.8 0.7 - 18.0 price price (%) price price (%)
Asian Paints 2590.9 -2.7 1.8 109.2 110.2 ITC 217.9 1.7 4.2 17.5 19.8 Happiest Minds 382.0 377.2 6.5 382.0 395.0 L&T Tech Ser 2492.0 2520.4 -6.1 1602.0 995.0
MOST BULLISH MOST BEARISH
Axis Bank 674.9 -0.2 2.8 111.5 65.3 JSW Steel 394.2 -0.6 0.8 64.6 38.4 Tata Motors 264.6 260.4 6.2 264.6 264.6 IndiaMART Int 7661.0 7767.1 -5.3 4546.7 1641.2
Bajaj Auto 3580.3 0.1 0.7 24.3 24.4 Vodafone Idea 13.8 13.7 0.7 Amara Raja 987.8 1006.8 -1.9 Gland Pharma 2400.0 2373.0 5.0 2509.1 2509.1 Firstsource 90.4 90.7 -4.8 61.0 20.7
Kotak Mah Bank 1863.9 -1.5 4.3 40.8 58.7
Bajaj Fin 4883.6 0.1 2.0 55.9 71.3 Apollo Tyres 184.3 183.3 0.5 PVR 1450.3 1474.6 -1.7 Majesco 26.1 26.1 4.8 1019.0 1019.0 Tata Elxsi 2285.0 2367.7 -4.8 1439.0 501.0
L&T 1354.2 -1.6 3.0 16.7 17.9
Tata Motors 261.6 260.3 0.5 L&T Finance Hol 103.6 105.3 -1.6 IDFC First Bank 49.5 48.5 4.8 49.5 49.5 Tech Mahindra 1003.0 1007.1 -4.4 782.3 470.3
Bajaj Finsrv 8636.1 -1.3 0.8 39.0 425.5 Mah & Mah 819.7 -1.2 1.3 802.1 - SAIL 70.5 70.2 0.5 GAIL 136.4 138.5 -1.5 UTI AMC 596.0 579.8 4.4 596.0 596.0 HAL 950.6 965.7 -4.3 660.0 448.0
Bharti Airtel 602.7 3.8 2.2 - - Maruti Suzuki 8024.8 -1.5 1.7 42.7 60.9 NTPC 100.9 100.5 0.5 United Brew 1276.6 1295.2 -1.4 SAIL 72.2 70.2 4.4 80.4 80.4 Bharat Elctn 132.3 133.4 -4.2 86.4 56.1
BPCL 414.6 -2.8 0.7 29.4 21.3 Nestle India 17834.0 -1.6 1.0 - 83.0
Britannia 3609.1 -1.5 0.7 48.5 50.6 Tata Mot-DVR 104.4 101.6 4.2 104.4 104.4 Canara Bank 135.4 137.4 -4.0 84.4 73.9
NTPC 100.5 -1.7 0.7 8.4 9.5
Cipla 823.7 -2.0 0.7 36.1 29.6 BSE NSE Bharti Airtel 610.0 602.5 3.8 610.0 611.7 Muthoot Finance 1193.1 1203.1 -3.8 1108.8 477.5
Coal India 143.3 -2.3 0.5 6.5 7.9
ONGC 101.4 -3.5 0.8 11.7 28.8 Index Stock Index Stock PUT-CALL RATIO Tanla Soluts 753.0 749.1 3.3 905.2 905.2 GAIL 136.6 138.5 -3.8 82.0 65.7
Power Grid 203.0 -1.0 0.8 9.6 9.7 Apollo Hosp 2614.5 2591.6 3.2 2614.5 2614.5 HCL Techno 984.2 989.4 -3.7 800.6 375.5
Divis Lab 3644.8 -2.1 0.7 70.3 55.0 FUTURE (Open Interest in Mn) Put Call PC Ratio
Reliance Ind 1937.5 -1.2 9.7 30.1 43.2 PVR 1485.0 1473.4 2.7 1506.8 2082.8 Indiab Real 80.3 80.6 -3.7 46.4 36.9
Dr Reddys 5212.8 -1.8 1.0 53.9 35.3 Contracts - - 411549 920211
SBI 303.9 -1.1 1.8 11.6 15.1 Market 1306.4 2331.2 0.6 Indus Towers 266.9 262.4 2.6 275.0 275.0 Apollo Tyres 181.9 183.3 -3.7 124.1 73.6
Eicher Motor 2857.3 -1.0 0.6 71.6 64.6 Open Int.(000) - - 15956 4431982
SBI Life Ins 910.3 -1.6 0.6 - 56.5 UPL 527.8 522.6 2.6 527.8 601.0 Indraprst Gs 543.5 548.0 -3.5 371.5 284.6
GAIL 138.5 -3.8 0.5 6.6 10.8 Shares(In Mn) - - 20.5 3732.4 Top 5 PC Ratio Bottom 5 PC Ratio
Shree Cement 24413.8 -1.8 0.5 - 48.5 Bectors Food Sp 460.0 449.1 2.3 629.8 629.8 Wipro 436.3 438.4 -3.5 331.2 159.6
Grasim Ind 1033.1 1.3 0.6 19.8 107.4 Value(~ crore) - - 38892 82648
Sun Pharma 604.3 -0.5 1.0 98.6 50.3 Vedanta 1.2 Amara Raja 0.2
HCL Techno 989.8 -3.7 1.7 20.3 24.9 OPTIONS * Ranked on the basis of percentage gain/loss on previous close
Tata Motors 260.3 6.2 0.7 - - Tata Motors 1.1 Torrent Pwer 0.2
HDFC 2632.8 -1.9 7.4 22.1 28.7 Contracts - - 20997097 1955065
Tata Steel 705.9 -0.1 0.8 - 16.7 TCS 0.9 NIIT Techno 0.2
HDFC Bank 1466.7 -0.1 9.9 29.6 28.3
HDFC Std Life 704.9 -0.3 0.9 109.8 106.3 TCS 3233.4 -0.5 5.2 38.3 38.6
Open Int.(000)
Shares(In Mn)
-
-
-
-
164733
1009.4
3472891
6033.8
SBI 0.8 Ramco Cements 0.2 MOST TRADED TOP M-CAP TRENDS
Tech Mahindra 1007.3 -4.3 1.0 24.4 23.6 DLF 0.8 Godrej Cons 0.2
Hero MotoCorp 3203.0 -1.9 0.7 17.6 25.4 Value(~ crore) - - 1972045 182212 Value Volume Rank Company Mcap (~ cr) Company % change Company % change
Hindalco 253.4 -3.1 0.6 15.1 84.1 Titan Company 1477.3 -0.9 1.0 87.4 173.5 BSE+NSE BSE+NSE
UltraTech 5452.3 -2.3 1.0 26.3 28.3 1 Reliance Ind 1228329.9 BS200 DOWN 7 DAYS
HUL 2351.2 -2.0 3.3 81.9 78.6 (~ crore) (Mn shrs)
ICICI Bank 543.0 -1.9 5.9 39.2 30.7 UPL 522.6 2.6 0.4 17.1 146.8 ACTIVE CALLS ACTIVE PUTS Tata Motors 6829.7 267.4
2
3
TCS
HDFC Bank
1196141.0
807621.6
UP 7 DAYS KCD Inds India -25.4
IndusInd Bank 965.9 -0.4 1.0 - 27.0 Wipro 438.6 -3.5 1.0 24.7 27.2 Expiry Strike Traded Open % Chg Expiry Strike Traded Open % Chg Majesco 39.3 ARSS Infra -24.2
Bharti Airtel 3468.7 57.6 4 Infosys 572956.1
Infosys 1345.0 -1.9 7.8 30.8 32.4 Nifty 50 14433.7 â-1.1 100.0 30.0 33.0 MARKET OVERVIEW (In Million) Date Price Qty Interest (OI) (In Million) Date Price Qty Interest (OI)
HCL Techno 2491.6 24.7 5 HUL 552602.4 Tata Motors 33.3 Kriti Nutrit -14.3
Index Index 6 HDFC 473803.6 Tata Mot-DVR 28.9 Decipher Labs -13.2
INDEX PE SHRS TRDS 1 YR SAIL 2413.5 343.5
S&P BSE SENSEX AGGREGATES C/S MN ‘000 ADV DEC RETURN Nifty
Nifty
21/01/21
21/01/21
14600
14500
47.9
35.1
3.9 126.7
2.8 212.7
Nifty
Nifty
21/01/21
21/01/21
14500
14400
41.9
39.7
1.7
1.2
15.7
-5.3
Infosys 2254.7 16.7
7
8
ICICI Bank
Kotak Mah Bank
374746.4
369082.3
UP 3 DAYS
Bharti Airtel 6.5
Resonance Sp -13.1
SENSEX 30.8/33.7 15.6 328 4 26 17.1 Reliance Ind 2103.4 10.8 Vishal Fabrics -12.9
Asian Paints 2590.0 -2.8 2.1 109.2 110.1 Mah & Mah 819.4 -1.3 1.5 801.9 - Nifty 21/01/21 14700 33.8 2.9 130.4 Nifty 21/01/21 14300 32.9 1.3 30.2 9 Bharti Airtel 328697.5 ITC 5.6
Axis Bank 674.9 -0.2 3.2 111.5 65.3 NIFTY 50 30.0/33.0 789.6 7386 7 43 16.9 Vodafone Idea 2012.9 1525.9 BMW Indu -12.8
Maruti Suzuki 8021.2 -1.6 1.9 42.7 60.9 C = CONSOLIDATED; S = STANDALONE Nifty 21/01/21 14800 31.0 2.7 62.8 Nifty 21/01/21 14200 27.9 1.5 39.4 10 Bajaj Fin 294162.2 Piramal Entp 3.8
Bajaj Auto 3580.7 0.2 0.9 24.3 24.4 Nestle India 17872.3 -1.4 1.2 - 83.2 Nifty 21/01/21 14900 18.4 1.9 45.4 Nifty Bank 21/01/21 32000 23.7 0.6 38.1 Tata Steel 1536.5 21.6 NCC 1.2 UP 3 DAYS
11á SBI 271129.3
Bajaj Fin 4881.6 0.1 2.3 55.9 71.3 NTPC 100.5 -1.6 0.9 8.4 9.5 CASH DERIVATIVES Stock Stock TCS 1391.7 4.3 12â HCL Techno 268488.5 DOWN MSTC 34.9
Bajaj Finsrv 8631.9 -1.3 1.0 39.0 425.3 ONGC 101.4 -3.5 0.9 11.7 28.8 TURNOVER BSE NSE BSE NSE Vodafone Idea 28/01/21 14 263.4 61.1 4.9 Vodafone Idea 28/01/21 12 87.0 35.5 45.3 13 ITC 268128.1 Firstsource -8.4 Tata Steel Long 30.9
ITC 1305.5 60.5
Bharti Airtel 602.5 3.8 2.6 - - Power Grid 203.1 -0.9 0.9 9.6 9.7 VALUE(IN ~ CRORE) 5082 75183 - 2275797 Vodafone Idea 28/01/21 15 210.6 44.7 19.0 Vodafone Idea 28/01/21 11 63.1 26.3 -6.7 14 Wipro 250560.9 Varun Bever -7.8 Tata Metal 29.6
Bajaj Fin 1280.3 2.6
HCL Techno 989.4 -3.7 1.9 20.3 24.9 SHARES(IN MN) 769.7 4625.1 - 10796.1 Vodafone Idea 28/01/21 13 198.6 68.5 8.1 Vodafone Idea 28/01/21 13 45.2 14.7 162.5 15 Asian Paints 248432.8 HCL Techno -6.8
Reliance Ind 1937.6 -1.2 11.3 30.1 43.2 Wipro 1192.7 26.7 Willim Magor 24.4
HDFC 2632.0 -2.0 8.5 22.1 28.7 TRADES(000) 2597 20633 - 14123 Tata Motors 28/01/21 260 108.1 8.1 -21.4 SAIL 28/01/21 65 32.9 11.4 150.0 16 Maruti Suzuki 242304.4 Info Edge -6.7
SBI 303.8 -1.1 2.1 11.6 15.1 SBI 1141.3 37.3 Taal Enter 22.0
HDFC Bank 1466.4 -0.1 11.5 29.6 28.3 Vodafone Idea 28/01/21 16 89.0 20.8 42.1 Tata Motors 28/01/21 240 31.1 5.0 34.5 17 Axis Bank 206624.0 Hind Zinc -6.0
Sun Pharma 604.0 -0.5 1.2 98.5 50.3 UPL 1072.0 20.6 Jonjua Overseas 20.6
HUL 2351.9 -1.9 3.8 81.9 78.7 MARKET-CAP (~ CR) TRADED TOTAL 18 L&T 190219.7 Bandhan Bank -5.9
ICICI Bank 542.8 -1.8 6.8 39.2 30.7 Tata Steel 705.6 -0.1 0.9 - 16.7
HDFC Bank 1067.2 7.3 19 Avenue Supermar 182713.2 Oberoi Relty -5.9 Suyog Telematic 18.9
TCS 3233.6 -0.5 6.0 38.3 38.6 BSE 19,572,626 19,689,166
IndusInd Bank 966.8 -0.3 1.1 - 27.0
Infosys 1345.1 -1.9 9.0 30.8 32.4 Tech Mahindra 1007.1 -4.4 1.1 24.4 23.6 NSE 19,361,472 19,458,279 SPURT IN VOLUMES IndusInd Bank
ICICI Bank
924.0
890.0
9.6
16.3
20
21
Nestle India
UltraTech
172324.2
157285.7
Others
UP 7 DAYS
DOWN 3 DAYS
5Paisa Capital -18.7
Titan Company 1476.3 -0.9 1.1 87.3 173.4 DERIVATIVES 14,565,128 14,565,128
ITC 217.9 1.8 4.8 17.5 19.8 Company Days 2-week Avg Change Close *Price 22 Adani Green En 148197.8 Shahlon Silk 43.8
Axis Bank 854.1 12.6 Shri Jagdamb -14.3
Kotak Mah Bank 1863.6 -1.5 4.9 40.8 58.7 UltraTech 5449.2 -2.4 1.1 26.3 28.3 Volume Volume % price %chg 23 Sun Pharma 144917.7 Orchid Pharma 40.6
L&T 1354.6 -1.6 3.4 16.7 17.9 BSE SENSEX 49034.7 â-1.1 100.0 30.8 33.7 TRADING ACTIVITY Bombay Super Hy 203714.0 6597.5 2987.8 136.1 20.0
HDFC
Asian Paints
714.7
688.1
2.7
2.6
24 HDFC Std Life 142422.2 Raj Oil Mills 40.5
Alufluoride -14.2
C = Consolidated; S = Standalone (~ crore) FIIs MF 25 Bajaj Finsrv 137368.1 Jet Airways -14.2
Prataap Snacks 118761.0 5198.5 2184.5 721.8 8.6 Sharda Ispat 40.3
Equity Debt Equity Debt Piramal Entp 685.3 4.2 26 Titan Company 131061.5 Yash Pakka -14.2
Net Net Net Net Gulshan Poly 1573348.0 94103.8 1571.9 97.3 14.3 Narbada Gem 40.2
Tata Elxsi 657.6 2.7 27 ONGC 127501.1 Janus Corp -14.2
WORLD INDICES On 14 Jan 1612 -329 - - Kothari Prdt 220808.0 14308.4 1443.2 79.1 7.0 Tech Mahindra 638.8 6.2 28 Hind Zinc 115392.9
Orient Press
Brand Realty
40.2
40.1 Pankaj Piyus -14.1
On 13 Jan 2166 -202 -1310 -564 Tata Steel Long 3821450.0 321510.0 1088.6 859.8 20.0 Maruti Suzuki 625.0 0.8 29 Adani Ports 107256.1
Indices Close % Chg* Indices Close % Chg*
On 12 Jan 941 -1331 -1201 309 Tata Metal 3682235.0 334128.3 1002.0 866.2 20.0 30 Power Grid 106227.4 (T+2) cycleStocks which rose/fell continuously
GAIL 582.8 40.9
Americas (Jan 14,21) Asia/Pacific (Jan 15,21) On 11 Jan 2940 -1494 -2292 2292 D. P. Abhushan 101613.0 9533.5 965.8 104.3 8.6
S&P/ TSX Composite 17958.1 0.1 Straits Times 3004.9 0.2 On 08 Jan 6012 164 -1822 1146 Tainwala Chm 596681.0 64185.3 829.6 85.4 2.3
Jan till date 17873 -3146 -11200 8900 Icicipramc - Ic 252214.0 30794.1 719.0 34.3 -1.4
Nasdaq Composite
Dow Jones
13112.6
30991.5
-0.1
-0.2
Shanghai Se Comp
Kuala Lumpur Comp
3566.4
1627.0
0.0
-0.5 2021 till date 17873 -3146 -11200 8900 Kotak PSU Bank 360721.0 44326.6 713.8 189.8 -2.4
BOARD MEETINGS INTRA-DAY
Europe/Africa (Jan 14,21) Taiwan Taiex 15616.4 -0.6 Quarterly Snowman Lo- ICICI Lombard Federal Bank Indo-City I
IBEX 35 8351.9 -0.2 Jakarta Composite 6373.4 -0.9 FIIS IN DERIVATIVES 52 WEEK NEW HIGHS/LOWS Results giest L & T Infotech Havells I Pratik Panel
JANUARY 16 Group A Group A HDFC AMC Quint Digital
FTSE 100 6781.4 -0.3 Stock Exchange of Thai 1519.1 -1.1 Company Price Company Price Company Price Company Price
(~crore) Index Stock Index Index Stock BS 200 IRB Infra Bank of Maha Hind Zinc Sanathnagar
DAX 13938.5 -0.4 Kospi 3085.9 -2.0 NET Net Fut OI Opt OI OI HDFC Bank Maha Scoot CEAT L&T Tech Ser Ent
HIGH *CEAT . . . . . . . . . . . . . 1272.7 LOW *Polo Queen Inds . . . . . . . 5.8
CAC 40 5652.7 -0.5 Volatility (Jan 14,21) BS 200 *Kovai Medicl . . . . . . 1250.0 BS 200 Group A Rallis CSB Bank Syngene Intl Udaipur Ce-
On 14 Jan 1122 -1079 0.1 0.7 1.4 *Padmanabh Inds . . . . . . 4.5
Asia/Pacific (Jan 15,21) CBOE S&P 500 23.7 2.1 On 13 Jan 4984 -1310 0.1 1.0 1.4 *SRF . . . . . . . . . . . . . . 6075.0 *Ion Exchange . . . . . . 1196.8 NONE Apollo Pipes Trident Gateway Dist Group A ment
*Zodiac Ventur . . . . . . . . 4.5
Hang Seng 28573.9 0.3 CBOE Dow Jones 21.7 0.2 On 12 Jan -2578 -276 0.1 0.8 1.4 *L & T Infotech . . . . . . 4499.9 eClerx Ser . . . . . . . . . . 1033.0 Others Group B Group B Hatsun Agro Agro Tech Fd Group XT
*Mid East Pro . . . . . . . . . . 4.5 Chembond Hind Media Network 18 M GMM Pfaudler Arfin India
Nikkei 225 28519.2 -0.6 * Change over previous close On 11 Jan 157 560 0.1 0.8 1.3 *TCS . . . . . . . . . . . . . . 3273.9 *Apollo Tricoat . . . . . . . 944.0 *Vishal Fabrics . . . . . . . . 47.7
*L&T Tech Ser . . . . . . 2780.0 *Tata Metal . . . . . . . . . 866.3 *Otco Internalt . . . . . . . . . 4.2 Chm Shree Gan Tata Comm Newgen Soft Chandra Prab
On 08 Jan 1131 563 0.1 0.7 1.3 KCD Inds India . . . . . . . . 34.4
*Apollo Hosp . . . . . . . 2614.5 *Tata Steel Long . . . . . 859.9 Hittco Tools . . . . . . . . . . . 3.7 Group IF Rem TV18 Broad- Tec Dhruv Est
MAJOR INDICES Jan till date
2021 till date
16420
16420
-784
-784
-
-
-
-
-
- *Amara Raja . . . . . . . . 1025.0 *Apollo Pipes . . . . . . . . 799.0
*Integra Cap . . . . . . . . . 33.1
*Mahalax Seam . . . . . . . . 3.7 IRB InvIT Fund Ultracab (I) cast Philips Crbn JANUARY 21
Sportking India . . . . . . 630.0 *First Custod . . . . . . . . . 29.0 Group T Vishwaraj Group B Sagar Cem BS 200
Previous Close Open High Low Close Change % chng OI in number of contracts(million) Godrej Cons . . . . . . . . . 793.0 *Raj.Petro . . . . . . . . . . . . . 3.5
*Kajaria Cer . . . . . . . . . 758.0 *Manvijay Dev . . . . . . . 565.0 *Himalya Grnt . . . . . . . . 26.8 Infomedia Sugar ASRL Sasken Comm Asian Paints
*Oscar Global . . . . . . . . . . 3.5 Press Group M JSW Ispat Sterlite Tch Bajaj Auto
S&P BSE Sensex 49,584.2 49,656.7 49,656.7 48,795.8 49,034.7 -549.5 -1.1 *UTI AMC . . . . . . . . . . . 596.0 *Suyog Telematic . . . . 549.0 Trio Mercan . . . . . . . . . . 26.3
*Suven Pharma . . . . . . 515.5 *Classic Filam . . . . . . . . . 3.4 Group X Octaware Tech Speci Tejas Net- Biocon
*Adani Ports . . . . . . . . . 545.0 *P.Polysac . . . . . . . . . . . 22.1
S&P BSE Sensex 50 15,278.7 15,299.2 15,303.6 15,034.6 15,112.0 -166.7 -1.1
S&P BSE SECTORAL INDICES *Cadila Healt . . . . . . . . 509.4 M M Forgings . . . . . . . . 515.0 *ANS Inds . . . . . . . . . . . . 21.2
*Ventura Textile . . . . . . . . 3.0 Guj Hotels Group T Skipper works Jindal Steel
S&P BSE-100 14,760.7 14,784.0 14,794.0 14,516.9 14,593.1 -167.6 -1.1 *CGCEL . . . . . . . . . . . . . 417.5 *Garware Poly . . . . . . . 470.0 *Terrascope Vent . . . . . . 3.0 Int Travel Shakti Pumps Tata Steel BSL Tinplate Co Kajaria Cer roch Music Broad- Athena Global Group A Avantel
Prev cls Close % Chng *Futuristic Sol . . . . . . . . 18.8
*Tata Motors . . . . . . . . 264.6 *Sarda Energy . . . . . . . 399.8 *City Online Ser . . . . . . . . 2.4 Neil Ind Group X VSSL VST Ind MCX Zensar Tech cast T Guj Amb Exp Menon Piston
S&P BSE-200 6,191.7 6,202.1 6,206.8 6,087.6 6,120.9 -70.8 -1.1 Divinus Fabrics . . . . . . . . 18.1
Auto 23,099.0 22,961.6 -0.6 GAIL . . . . . . . . . . . . . . . . 146.2 *Indian Metal . . . . . . . . 387.2 Sacheta Met Alexander Group T Group B Mphasis Group B Sangam India Libords Finance Indian Bank Radhe Devlop
*Sarup Industrie . . . . . . 15.0 *Sip Inds. . . . . . . . . . . . . . 2.2
S&P BSE-500 19,185.9 19,220.8 19,237.9 18,866.3 18,968.7 -217.2 -1.1 Bankex 36,904.0 36,540.5 -1.0 Tata Mot-DVR . . . . . . . . 104.4 *Taal Enter . . . . . . . . . . 375.0 Smruthi Or- Stamp Bigbloc Const Allsec Tech SRF Genus Power Group X Pasari Spg Ramkrshn Frg Group XT
*Dhruv Est . . . . . . . . . . . 13.0 *Sea TV Netw . . . . . . . . . . 2.2 ganic Decc Gold M RPEL Confind Ptro Group A
S&P BSE IPO 7,972.1 7,982.0 8,086.4 7,937.0 8,059.5 87.4 1.1 Cons. Durables 30,559.8 30,160.0 -1.3 *Tata Power . . . . . . . . . . 88.0 *JTL Infra . . . . . . . . . . . 305.0 Kabra Extrus D & H India Sunil Health Swaraj Engin Shiva Cement
Cap. Goods 19,973.3 19,630.4 -1.7 IDFC First Bank . . . . . . . 49.5 *MSTC . . . . . . . . . . . 263.7 *Jumps Network . . . . . 12.6 *Devine Impex . . . . . . . . . 1.7 Group XT I-Power Sols Group X Everest Inds AAVAS Finan Man Ind HFIL Group Z Group B Wellesley
S&P Dollex-30 5,572.1 - - - 5,506.6 -65.5 -1.2 *IEX . . . . . . . . . . . . . . . . 238.8 *Rainbw Denim . . . . . . . . 1.2 Pranav.Spin SagarSoft Manvijay Dev GG Eng Apollo Tricoat Oriental Htl Kirl Pneu Zicom Elec Fineotex Chm Group Z
FMCG 12,837.7 12,753.0 -0.7 Vodafone Idea . . . . . . . 13.8 *Shree Ganesh El . . . . . . 11.5
Nifty 50 14,595.6 14,594.4 14,617.5 14,357.9 14,433.7 -161.9 -1.1 Healthcare 22,299.5 22,034.9 -1.2 Others *Shri Dinesh . . . . . . . . . 233.7 *Sheetal Diam . . . . . . . . . 1.2 Welcure Drug India Roselabs Fin Gulshan Poly Bajaj Hold Pioneer Dist Libord Sec JANUARY 22 Kewal Kiran Gangotri Tex
*APIL . . . . . . . . . . . . . . 9.0
Infra 198.2 195.4 -1.4 *Edels Niftyees . . . . 18954.0 *Sequent Sc . . . . . . . . . 219.8 JANUARY 18 Suraj Ltd Shree Gan Bio Indo Rama S Bliss GVS Rajratan Glb Nam Securities BS 200 Wendt JANUARY 23
Nifty next50 34,318.5 34,432.6 34,518.4 33,606.4 33,781.0 -537.5 -1.6 *Interactive Fin . . . . . . . . 8.3 *Devhari Exp . . . . . . . . . 1.1
IT 26,872.1 26,353.0 -1.9 *Kama Hold . . . . . . . . 6675.0 *Raclgear . . . . . . . . . 218.5 BS 200 Group XT Group XT OAL IEX Group M National Std CGCEL Group T BS 200
*Fruition Vent . . . . . . . . . 8.0 Perfect Oct . . . . . . . . . . . . 1.0 Alok Inds Modern Conve AVI Poly Group T Indo Count
Nifty 500 12,069.5 12,078.6 12,100.9 11,864.1 11,931.2 -138.3 -1.1 Metal 12,468.2 12,345.8 -1.0 ICRA . . . . . . . . . . . . . . 3140.0 *Share India Sec . . . . . 215.9 Nakoda Group Parshrti Inv Gland Pharma S E Power UltraTech
*Orchid Pharma . . . . . 215.4 *KDLL . . . . . . . . . . . . . . 7.6 *Millennium Onli . . . . . . . 0.6 Indiab Real JANUARY 19 JANUARY 20 Excel Re JK Tyre Ind Group P SVP Global HDFC Std Life Group X Group A
India VIX 23.0 23.0 24.7 23.0 24.0 1.0 4.3 Oil & Gas 15,328.2 14,955.8 -2.4 *Raja Bahadur . . . . . . 2360.5
Power 2,142.6 2,114.2 -1.3 *Persistent S . . . . . . . 1690.0 Galaxy Bearings . . . . . 212.6 *Salguti Inds . . . . . . . . . . 7.5 *Shalimar Prd . . . . . . . . . 0.5 IndiaMART Int BS 200 BS 200 Group X Saregama I S.I.Capital Vent JSW Steel Amal Birla Corpn
Nifty CPSE 1,772.8 1,772.1 1,781.6 1,723.8 1,733.2 -39.6 -2.2 *IFB Ind . . . . . . . . . . . . 1392.0 *ICICI 500-ETF . . . . . . . 198.5 *ABVL . . . . . . . . . . . . . . 7.0 *Utdbfs1Dgr . . . . . . . . . . 0.4 Majesco Alembic Bajaj Fin Confidence South Ind Bk Group T Warren Tea SBI Life Ins Artson Engg DCB Bank
PSU 6,336.8 6,222.7 -1.8
MSE SX 40 28,949.5 28,949.5 28,949.5 28,615.2 28,615.2 -334.3 -1.2 Realty 2,666.6 2,619.3 -1.8 Mindtree Pharma Bajaj Finsrv Futu Supreme Pet- JBF Ind Group XT YES Bank Aut Corp Goa JM Financial
m m w w

> BS 200
WHAT THIS STOCK PAGE CONTAINS AND WHY The third sub-set of The table also contains the (F&O) section a wide set of an option may be exercised. becomes valueless while compared with the previous XD after the traded quotes M
BSE NSE BSE NSE
information is the stock’s company’s price-earnings data has been provided. An option is “in-the-money” futures contracts are close, the close price is indicate that the scrip has
market capitalisation. The (P/E) multiple. The P/E Open Interest: OI is the if the market price exceeds compulsorily settled on underlined. A significant gone ex-dividend after that l ~100 q ~3 Aarti Drugs ACC
BS 200 stocks account for over paid-up value . Four
market capitalisation is multiple is arrived at by number of contracts open at the SP (in case of a call option) expiry. On NSE, it is the last change means a 3 per cent date; XB denotes ex-bonus, PCLose (716.1) (716.8) (1785.7) (1785.5)
85 per cent of the volume of categories of information are m ~50 H ~2 Open 710.0 717.1 1795.0 1780.0
shares, value and trades on provided: First, the basic shown in ~crore and is arrived dividing the day’s closing end of day in the futures and and the market price is below Thursday of every month. rise or fall in scrips whose XR ex-rights; XO ex-indicator
High 726.0 720.0 1795.0 1785.9
the Bombay Stock Exchange information on the day’s at by multiplying the closing price by its reported earning options segment. OI thus SP (in case of a put). Put/call ratio: The ratio of market values are over 10 for other corporate actions n ~20 « ~1
Low 703.3 703.0 1717.4 1718.3
and National Stock Exchange. trading. Information is also prices of shares with equity per share (EPS) for trailing 12 indicates traders’ Otherwise it is “out-of- open interest in put options & times paid-up value or 15 per like AGM/EGM/ preference u ~6 Face value Close 707.5 707.2 1739.8 1740.1
For BS 200 stocks, the given on the number of capital. It changes either months. EPS is calculated on expectations. High OI is money” call options. cent for the rest of the shares. shares/mergers and others . M of scrips is Shares 14953 222K 46459 1239K
because more shares have the basis of consolidated typical when traders see a Expiry date: The date on ABBREVIATIONS: When a The letters H or L appended denotes volume of shares in < ~5 ~10 in all PE 29.2 29.1 26.5 26.5
company name is followed by shares traded, and also the 52 Wk H/L 1025/106 1027/105 1813/896 1814/895
been issued (or extinguished) earnings wherever available. continuing trend. which a derivative expires . significant change occurs in to prices indicate a new high million, L in lakhs & K in cases if not
its BSE group in brackets and price trend with 52-week Q ~4 specified. Mcap 6594 6591 32671 32677
the symbol indicating the highs and lows. or the price has moved. In the futures and options Strike Price: The price at which An unexercised option the day’s closing value or low in the scrip; the letters ‘000’.

BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE
Adani Enter« Adani Green En Adani PortsH Adani Power Adani total Gas« Aditya Bir Fa « m « m m mH H < « « « m m « m
(532.1) (532.1) (967.5) (968.3) (536.6) (537.0) (54.0) (54.0) (360.4) (361.1) (179.8) (180.4)
O 532.9 534.7 1015.9 1016.7 545.0 536.8 53.6 54.1 364.9 360.5 179.8 180.4 O O
537.7 537.5 1015.9 1016.7 545.0 541.0 55.0 55.0 367.5 368.0 180.5 180.8
w 519.3 518.8 939.3 939.2 524.0 524.0 52.8 52.8 358.0 357.4 174.8 174.5 w w
527.0 527.3 947.6 947.8 527.9 528.0 54.2 54.1 360.0 360.0 176.4 176.3
207K 3377K 115K 2143K 205K 5428K 1033K 5449K 35027 1026K 126K 1974K K K K K K K K K K K K K K K K K
65.9 65.9 - - 28.0 28.0 - - - - - -
W 541/116 541/116 1220/113 1220/112 545/203 542/203 66/24 66/23 390/77 390/77 284/96 284/96 W W
M 57959 57992 148198 148229 107256 107266 20885 20866 39593 39587 13661 13649 M M

Axis BankH Bajaj Auto Bajaj FinH Bajaj Finsrv< Balkrishna IH Bandhan Bank Bank of BarodaH Bata India< Bectors Food Sp BEML Berge Paint« Bharat Elctn« Bharat ForgeH Bharti Airtel< BHELH Biocon< BirlasoftH Bosch
(676.0) (676.0) (3574.4) (3576.1) (4876.3) (4877.4) (8748.4) (8747.3) (1712.7) (1711.1) (373.0) (373.1) (76.2) (76.2) (1632.3) (1632.1) (438.9) (438.9) (962.5) (962.8) (792.8) (794.1) (139.2) (139.1) (622.5) (622.5) (580.2) (580.5) (40.2) (40.2) (466.8) (466.5) (265.9) (266.3) (14806.2) (14790.7)
O 676.3 677.6 3623.7 3588.0 4879.9 4877.0 8818.0 8754.8 1710.0 1714.8 376.8 376.0 O 76.5 76.5 1635.0 1632.1 440.0 438.0 964.7 962.0 790.0 792.0 139.2 138.7 O 627.9 622.5 608.2 609.6 40.2 40.2 465.1 466.5 269.9 267.0 14851.0 14800.0
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 .
MUMBAI | 16 JANUARY 2021 ECONOMY & PUBLIC AFFAIRS 13
<

Dec trade deficit reaches

25-month high of $15.4 bn
Imports surge for the 1st time since March, exports show marginal growth
INDIVJAL DHASMANA rent financial year against
New Delhi, 15 January $238.27 billion during the cor-
WIDENING GAP responding period of 2019-20.

I
mports moved into posi- ($ billion) On December numbers,
tive territory for the first Trade Promotion Council of
time since March, sending India Chairman Mohit Singla
the trade deficit to a 25-month said resilience of industry has
high of $15.44 billion in challenged all adversity to
December against $9.87 billion buck the trend. “This growth
in the previous month. comes amid a challenging
Imports grew 7.56 per trade environment, espe-
cent to $42.59 billion in cially with the rise in protec-
December, against $39.59 bil- tionist measures by a number
lion a year ago. of countries. Additionally,
Exports also saw a marginal this performance comes indi-
growth of 0.14 per cent in cating below-trend expansion
December — only the third in the first and second
month in 2020 to show expan- quarter,” he said.
sion — fuelling optimism Engineering exporters body
about an economic recovery. EEPC India said exporters con-
Outbound shipments were tinue to face headwinds of
$40 million higher at $27.15 bil- against $21.6 billion in shift to the growth path showed extreme nature as the major
lion over $27.11 billion a year December 2019. that industrial demand in the economies are in the midst of
ago on the back of drugs and Prahalathan Iyer, chief gen- economy has picked up in a demand recession. The
pharmaceuticals, electronics, eral manager, India, at Exim December, which would have domestic picture of rising cost
and gems and jewellery bank, said this indicates a pick- repercussions for factory pro- of raw material like steel aggra-
exports. Oil exports continued up in manufacturing activity in duction as well as larger eco- vated the situation, it said.
to decline, with a 35.35 per cent the country. nomic growth. The index of Meanwhile, the estimated
fall year-on-year (YoY). Sharad Kumar Saraf, pres- industrial production (IIP) value of services export was
“While intermittent hic- ident of exporters’ body FIEO, declined 1.9 per cent in $17.31 billion, while that for
cups may persist, we are hope- said 2021 has brought opti- November after rising over four imports was $10.32 billion. This
ful that the performance of mism and the vaccine rollout per cent in October. Growth in led to an overall surplus in mer-
exports will strengthen in the is expected to bring the econ- non-oil, non-gold imports chandise and services trade at
coming months, as the vaccine omy back on growth trajectory, showed that IIP might pick up $5.22 billion in the first nine
rollout gathers speed in the with a V-shaped recovery in in December. months of FY21, compared to
major trading partners,” said world trade. “The trade deficit was driv- the deficit of $ 64.09 billion a
Aditi Nayar, principal econ- Non-oil, non-gold imports en by a surge in non-oil year ago.
omist at ICRA. grew almost 8 per cent in imports that was exaggerated Nayar expected the current
If oil and gems and jewel- December at $28.52 billion ver- by pent-up demand,” said account surplus to sharply
lery sectors were taken out sus $26.41 billion in the corre- Nayar. reduce to sub-$2 billion in Q3,
from the export basket, out- sponding month last year. Exports declined 15.73 per from $15.5 billion in Q2.
bound shipments grew 5.50 per This category of imports cent at $200.80 billion during She did not rule out a small
cent at $22.22 billion last month mostly declined in 2020. Their the first nine months of the cur- current account deficit in Q3.

still uncertain, we will be The future requirement of February 8. Experts say this
> FROM PAGE 1 engaged with stakeholders," vaccines will depend on the means that if a user does not
Li replied. demand seen on the first day, accept the new changes, the
Huawei India If the changed US regime
would mean better days for
according to Dr Garg. “We are
starting with administration
person will lose access to the
app or may not be able to use

CEO... Huawei, Li said, "We will only

focus on our own strengths,
of 100 doses per vaccination
site, but, we will probably
all the features.
India is the biggest user
Last month, the Union gov- whatever the challenge." He increase the number accord- base for Facebook, with
ernment issued a security added however that the new ing to demand,” she said. around 328 million of them.
directive for the Indian tele- regime was expected to be Chhavi Gupta, spokesper- WhatsApp has 400 million
com sector amid tension with friendly and ultimately that son of Rajiv Gandhi Super users here, also the highest.
China at the Ladakh border. would benefit the clients and Specialty Hospital, pointed In continuation with its
The directive, without nam- customers. out there was hardly any vis- tirade against the messaging
ing any country, mandated ibility on the second round of entity, the Confederation of
scrutiny of telecom equip- vaccination. “We may see all All India Traders (CAIT),
ment and networks, while
stating that there would be a
Decked up 100 shots being administered
on Day 1, but I’m not sure if
which represents 70 million
traders, said it might go to
list of trusted sources and pro-
ducts from the government.
for first day, demand will increase,” Gupta
said ahead of the vaccination
court if the government did
not take action against
The licence norms for telcos
are also expected to be
first shot roll-out. Some 30 million
health care workers would get
WhatsApp.
It urged the government
amended. At GB Pant Hospital, cameras the jabs in the first phase of for a technical audit of
Li elaborated on the chal- were already in position on the Covid vaccination drive. WhatsApp, Facebook, and
lenges of 2020, listing Covid- the seventh floor of the D Instagram. CAIT has sent
19, lockdown, and geopolitical block building, where the vac- another communication to
issues as the main factors for
uncertainties in business.
cine would be administered.
TV sets were in readiness too
WhatApp Union IT Minister Ravi
Shankar Prasad on this.
"Even though 2020 was very
challenging, we exceeded our
to catch Prime Minister
Narendra Modi’s address at
case... “After failing in its attempt
in the European Union to
targets,’’ he said, pointing out 10.30 am on Saturday. “The petition has sought a continue this policy,
that the company was leading Private hospitals were also direction to the Central gov- Facebook has now made
worldwide in 5G, R&D, and gearing up. East Delhi’s ernment to exercise its India as a new target,” said
patents, among other areas. Dharamshila Super Specialty powers under the CAIT National President B C
On whether geopolitical Hospital will be receiving vac- Information Technology Act Bhartia and Secretary General
issues would be resolved this cines from a cold-chain stor- and ensure that WhatsApp Praveen Khandelwal in a
year, Li said, "Definitely. age facility nearby in does not share any data of its statement.
Those developments are Vasundhara early morning. users with any third party or
unfortunate and are out of Nitin Sharma, deputy medi- Facebook and its companies,”
our control." He reiterated
that just as in 2020, the com-
cal superintendent, said the
hospital would have a nine-
Waris said.
“The primary contention
Piramal’s plan
pany would focus on its
strategy. As for India busi-
day first run. of the petitioner is that the
new policy ‘virtually gives a
for DHFL...
ness, the company said it had Covishield vs Covaxin 360-degree profile into a per- This will add 4,500 employ-
to make staff "adjustments" in G B Pant Hospital, according son’s online activity’, without ees to the group and invest
some departments due to the to Liladhar Ramchandani, sec- any ‘government oversight’, ~10,000 crore of Piramal
upheavals last year, adding retary general, Delhi Nurses and ‘takes away the choice’ of Capital’s equity in the merged
that there was hardly any Federation, would administer a user to not share their data entity.
downsizing. Of the 6,000-odd Serum Institute’s Covishield with other Facebook-owned For Piramal, the merger
employees that the company on the first day of the run. The apps and third-party apps.” with DHFL makes sense as it
has in the country, around 95 consignment is set to come in The petition has high- would give it a stable cash
per cent are Indians, accord- the morning. Dharamshila lighted there is no clarity on flow from retail customers at
ing to officials. Hospital is also getting the extent to which data will a time when its own corpo-
Li praised Prime Minister Covishield for the first run. be shared. It raises questions rate loan portfolio is facing
Narendra Modi’s leadership, “Most of Delhi’s state-run about what will be done with tough times due to the real
including the made in India hospitals have Covishield vac- the sensitive data of users. estate sector slowdown.
and self-reliance plans. But, cines, while central govern- It says under the new The lenders are now wait-
isn’t the atmanirbhar scheme ment hospitals also have terms and conditions, ing for Oaktree’s next move,
hurting Chinese companies Covaxin,” pointed out Dr WhatsApp would be sharing considering that it had
such as Huawei? To that, Li Suneela Garg, director-profes- transaction data, mobile warned that it would take
said, "Every country has the sor and head, community device information, IP legal action if its offer was not
right to develop its economy… medicine at Maulana Azad addresses, and other data on approved. In a letter to the
Made in India should not be Medical College. She has also how users interact with busi- lenders just before the voting,
seen as being exclusive…It been appointed to the Delhi’s nesses on WhatsApp with Oaktree had said its offer was
should be inclusive with focus Covid-19 task force. Facebook group companies, being undervalued by ~2,700
on global cooperation." including Instagram. crore by the CoC and its advi-
Whether it’s made in India Vaccine worries WhatsApp recently said it sors, giving an upper hand to
or made in China, countries The biggest worry in the vac- updated its privacy policy and the Piramal group. This
should embrace global corpo- cination drive seemed to be terms of service to integrate includes ~1,000 crore set
rations, he said. "You need an the lack of trust. Dr with other products and serv- aside by Oaktree from the
open mind. Embrace foreign Choudhary said, “People are ices offered by its parent com- future sale of DHFL’s life
investment to bring capital, worried about the safety of pany, Facebook. The most insurance venture for the
technology and management vaccines. However, as a doc- prominent changes deal with lenders and ~1,700 crore of
skill. Cultivate the ecosystem. tor, I believe they are safe and how WhatsApp shares infor- additional interest income,
This very healthy develop- such rumours need to be dis- mation with Facebook and its which was offered by the US
ment is here in India." pelled. There is a need for subsidiaries. The instant mes- firm to the lenders two days
According to Huawei, the more awareness.” saging app can now share after the deadline to submit
company has a long-term Some said they would take phone numbers and transac- bids ended on December 22.
commitment in India. On the shot to convince others tion data with Facebook. The Oaktree also said the fair
engagement with the govern- that it’s harmless. aim is to also promote safety. market value of its financial
ment on the various tricky Ramchandani said: “If I don’t “Privacy policy and terms proposal was higher that
matters, Li said, "Whenever take the vaccine, how will I updates are common in the Piramal’s by ~4,503 crore.
there’s a chance, we make our tell my colleagues and juniors tech industry. Respect for But Piramal had raised
point that we have a good to take it? One needs to set an your privacy is coded into our objections to Oaktree’s plan,
record and we create value… example.” DNA. Since we started saying it would not be able to
Also, we are here as a big con- Earlier, the administration WhatsApp, we’ve built our meet the capital adequacy
tributor and are fully compli- at his hospital was to decide services with a set of strong norms prescribed by the
ant." who gets vaccinated first. privacy principles in mind,” a National Housing Board and
What, according to him, Now, however, the govern- WhatsApp spokesperson said the Reserve Bank of India,
would be the high point of ment has left it to the people recently. Ajay Piramal, chairman of the
2021? Would it be 5G? "While to register themselves in a bid The privacy policy and Piramal group, wrote in a
the road map of 5G auction is to boost confidence. terms come into effect on letter to the central bank.

Original Uploaded fast update byhttps://t.me/English_Newspeper_L_Banna_sa

 14 MUMBAI i 16 JANUARY 2021 Weekend Business Standard
PUBLIC NOTICE
PUBLIC NOTICE VARDHMAN TEXTILES LIMITED Reg office- IDBI PUBLIC NOTICE
PUBLIC NOTICE n R^oslhon Co-operative Deary Federating limited
SARAS SANKUL J. L. N. MARG, JAIPUR - 302017
I have lost m y share certificate of Tata
Regd. & Corporate Office: Chandigarh Road, © I D B I BANK Tower, WTC Complex
Notice is hereby given that, Mrs.
Public At large is hereby informed that Notice is hereby given that, Mr. Bhanu Kristachari Chemicals Ltd. vide Share Certificate Nos. Cuffe Parade,
Tel. 2702501-08: Fax:0141-2702535: Gram: DAIRYFED: Ludhiana-141010, Punjab (India) Iyer Visalakshi Sundar was the sole
my client has misplaced the Original Joish, the joint owner of Flat No.A/101, Spring E-Mail :rcdfhoJp1@sandiarnetln C 3 0 0 3 2 6 0 8 8 & C 3 0 0 7 4 1 1 6 5 , No. of shares Mumbai-400005 owner of Flat No. B 204, 2nd floor, in

Sale of Financial Assets

Agreement for Sale between M/s. Shri Leaf Bldg.No.7 Co-op. Hsg. Soc. Ltd., F.No.: RCDFF
/ 1 yAdmn/Contract employee/2020/36745 Dated: 15.1.2021
Lokhandwala Township, Akurli Road, Kandivli(E),
50, Distinctive No. 9 0 1 2 1 0 1 4 t o 9 0 1 2 1 0 3 8 PAN No.: AABCM4692E; Vasukamal co-operative Housing
CORRIGENDUM
MAHAVIR BUILDERS And Mr. K. & 1 0 9 7 2 1 0 1 4 t o 1 0 9 7 2 1 0 3 8 under the folio Society Ltd., located at CTS no. 184A,
Mumbai 400 101, died on 29/11/2020 and Corrigendum to e-tender vide UBN CIN: L17111PB1973PLC003345
MURALEEDHARAN, in respect of flat No. C 1 P 0 0 3 6 7 0 9 . Which has been lost Tugwa Village, Sakivihar Road, Kurla
Mrs. Sajini Joish & Mr. Biijesh Joish, aie claiming CDF2021SLOB00948 has been issued &
No. C/210, situated on Second floor, in E-mail: [email protected]; IDBI Bank Ltd invites bids for sale of financial asset (W), Mumbai 400 072 who expired on
the ownership of the flat. further details are available on our website and recorded in Lake Town Police Station
the building known as Shanta Bhavan We hereby invite claims or objections, if any, from i.e. h t t p : / / e p r o c . r a j a s t h a n . g o v . i n , of "Sunrise Pictures Private Limited" to the 02/01/2020 without making nomination
vide GDE No. 1 8 9 6 Dated 25.08.2019. If Website: www.vardhman.com
COMPANY NOTICE
CHSL, situated at Survey No. 10,11 & the heir or heirs or other claimant or claimants/ www.sppp.rajasthan.gov.in & eligible ARCs/Banks/NBFCs/FIs on " A s i s w h e r e for her 100% share in respect of the
12 (P), Village Navghar, Sai Nagar, www.sarasmilkfed.rajasthan.gov.in. anybody found Please Call : Partha Sarathi
objector or objectors to the transfer of the said is and As is what is and without recourse". 'said flat'.
Vasai Road (W), Tal. Vasai, Dist. Raj. Samwad/C/8900/2020-21 General Manager (P&A) Hazra 9433765749.
shares and interest of the deceased member in
Palghar. In case the same is found it »flq-1 ^ - S*IIXI taiRT OH Notice is hereby given pursuant to For d e t a i l s p l e a s e visit Bank's w e b s i t e Any person having objection or
the capital/property of the society within a period c l a i m by w a y of sale, e x c h a n g e ,
should be returned to my client or to us of 15 (fifteen) days fiom the publication of this Regulation 29, read with Regulation www.idbibank.in. Click on link Announcements>
mortgage, charge, gift, trust,
forthwith. In case any person has any notice with copies of such documents and other Notices & Tenders. For further details, you may maintenance, inheritance, possession,
proofe in support of his/her/lheir claims/objections 47 of the SEBI (Listing Obligations
rights, claims and interest in respect of contact at email- [email protected]. lease, lien, tenancy, license,
t r a n s f e r a f o r e s a i d property, or for transfer of shares and interest of the deceased and Disclosure Requirements) e a s e m e n t , o r o t h e r w i s e etc. of
member in the capital/property of the society. If The Bank reserves the right not to go ahead with
otherwise, the same should be known Regulations, 2015, that a meeting of whatsoever nature with respect to
in writing to me a t the address no claims/objections are received within the period the proposed sale at any stage without assigning
prescribed above, the society shall be free to GINNI FILAMENTS LTD. Board of Directors ofthe Company is any reason. Bank reserves the right to accept or
100% share in respect of the 'said flat'
mentioned below with the documentary Regd. Office: are requested t o make the s a m e
deal with the shares and interest of the deceased scheduled to be held on Thursday,
proof within 14 days from the date of 110 KM Stone, Delhi Mathura Road, reject any bids. Dy. General Manager known in writing along with copies of
member in the capital/property of the society in
publication hereof, failing which it shall Chhata-281 4 0 1 , Distt. Mathura (U.P.) 21st January, 2021, inter-alia, to supporting documents in respect of
such manner as is provided under the bye laws
be construed that such claim is waived, of the society. CIN : L71200UP1982PLC012550 Place- Mumbai Corporate Office their objection/claim to t h e
abandoned.
consider and approve the Un- undersigned, within a period of 14
NOTICE Dale-16.01.2021 NPA Management Group
Dated on this 17th day of Januaiy2021 at Mumbai In terms of Regulation 47 of the SEBI (Listing Audited Financial Results for the days from the date of publication of
Advocate Parag J. Pimple
LEGAL REMEDIES quarter/ nine-months ended 31st this notice, failing which, t h e
S/4, Pravin Palace, Pt. Dindayal Nagar, Obligations and Disclosure Requirements)
ADVOCATES, HIGH COURT objection/claim of such person/s will
Vasai Road (W), Tal. Vasai, Dist. Palghar Regulations, 2015, notice is hereby given that December, 2020. be d e e m e d to have been w a i v e d
Mob: 9890079352 Date: 16/01/2021 OFFICE NO.2, GROUND FLOOR,
a Meeting of the Board of Directors of the and/or abandoned and the said flat's
SHANTI NIWAS CHS LTD, BLDG.NO.1 This notice is also available on the
Company will be held on Friday, the 29th 100% share will transfer, in the name
PATEL ESTATE, C.P. ROAD, websites of:-
January, 2021 to consider inter alia the of t h e a p p l i c a n t M r . S u n d a r
KANDIVLI(E), MUMBAI 400 101
Unaudited Financial Results of the Company a) Company (www.vardhman.com) Subramaniam Iyer.
Cell: 9892276126/9619115212/9819502415
for the quarter and nine months ended 31st b) BSE Ltd. (www.bseindia.com) For Vasukamal CHS Ltd.

Weekend
December, 2020.
c) NSE Ltd. (www.nseindia.com) Hon. Chairman / Secretary
PUBLIC NOTICE
The notice is also available on the Company's

Business Standard
website at www.ginnifilaments.com and on
For VARDHMAN TEXTILES LIMITED Dated this 16th January 2021
Sd/- Mr. Baburao Kerba Biradar, a bonafide
the website of the Stock Exchange at
member of the Ganesh Green Village Co-op
www.nseindia.com. Date : 15.01.2021 (Sanjay Gupta)
INDUSIND B A N K LIMITED For Ginni Filaments Limited
M U M B A I EDITION Place: Ludhiana Company Secretary
Hsg Sodety Ltd, having address at Flat No.
PUBLIC NOTICE
4/702 Ganesh Green Village Co-op Hsg
Regd. Office : 2401, General Thimmayya Road, Cantonment, Pune-411 001. Noida Bharat Singh Take NOTICE that under a Deed of Transfer
Society Ltd , Masacha Pada, Kashi Gaon,
PUBLIC NOTICE
Printed and Published by Sangita Kheora
Secretarial & Investor Services : 701 Solitaire Corportate Park, 167 Guru Hargovindji Marg, Andheri (E), MumbaI-400 093. 15.01.2021 Company Secretary dated 15th February 1978, M/s. Smt.Shardaben
on behalf of Business Standard Private Mira Road - East, Thane - 401107 holding Bhailal Patel ('the Builder') sold, assigned and
NOTICE FOR LOSS OF SHARE CERTIFICATE(S) Limited and Printed a t M/s. D a n g a t M e d i a Flat/tenement no.4/702, in the building of the transferred theirrights,title and interest in Flat
Notice is giventoall concerned that Mrs.
Notice is hereby given that the certificate(s) of Indusind Bank Ltd. for the under mentioned securities are stated No. 201, 2nd floor, Sharda Apartment,
Private Limited, 2 2 Digha M.I.D.C., TTC Sodety died on 26/06/2020 in Mumbai,
Pushpa Keshavji Gada is a Co-Owner Ramchandra Lane, Malad (West), Mumbai 400
to have been lost or misplaced and the registered holders have applied to the Bank for issue of duplicate Share Industrial Area, Vishnu Nagar, Digha, Navi without making any nomination. 064. Village Malad Taluka Borivali, bearing Plot
of that piece and parcel of the property
certificate(s). Any person who has / have a claim(s) in respect of the said security(ies) should lodge such M u m b a i , 4 0 0 7 0 8 a n d M/s. Nai Dunia The Sodety hereby invites daims or objections Nos. 29 and 30 of Adarsh CHS Ltd., Survey No.
being Flat No. 802, admeasuring about from heir or legal heirs or other claimants/ 18 Hissa No. 1 and Survey No.18 Hissa No. 2 (
claim(s) in writing with R & T Agents of Bank viz. Link Intime India Pvt. Ltd. C-101, 247 Park, L. B. S. Marg, 23/4, 23/5, Sector-D, Industrial Area, J.K.
Part ) C.S.T No. 702 and 703 (hereinafter
Vikroli (West), Mumbai-400 083 within 7 (Seven) days from this date else the company will proceed to issue Road, Near Minal Residency, Bhopal 667 Sq.ft (carpet) area located on 8th objectors to the transfer of the said Shares referred to as the 'said Flat') to Mr. Tulsidas
duplicate certificate without further intimation. I f ZODIAC - JRD- MKJ LIMITED ( M . P ) - 4 6 2 0 2 3 . & Published a t Floor, A-wing, Pushp Vinod- 15, and interest of the deceased Member in the Ghanshyam Patel. Take further note that under
(Oj^ 910, Parekh Market, 39 JSS Road, H / 4 & I / 3 , B u i l d i n g H, P a r a g o n C e n t r e , O p p . Bhagyasiddhi Co-op Housing Society Capital I property, of the Society within a a Deed of Transfer dated 5th September 1980,
period of 14 (fourteen) days from the Mr. Tulsidas Ghanshyam Patel sold, assigned
Sr. Registered No. of "' Opera House, Mumbai 400004 Biila Centurion, PB.Marg, Worli, M u m b a i - 4 0 0 0 1 3 Limited, situated at New F. P. No. 648,
Name of the Shareholder Certificate Nos. Distinctive Nos. publication of this notice, with copies of such
and transferred his rights, title and interest in the
No. Folio No. Shares CIN: L65910MH1987PLC042107 TPS III, Haridas Nagar, Shimpoli Road, said Flat in favour of Smt. Lilavanti Vithaldas
Website add: www.zodiacjrdmkjltd.com
Editor: Shyamal Majumdar documents and other proofs in support of Jhaveri.Thereafter, under a Deed of Transfer
1 SATISH SETHI 00703321 636554 221097181 221097405 225 Borivali (West), Mumbai- 400092, his/her the claims/objections tor transfer of dated 6th May 1982, Smt. Lilavanti Vithaldas
E m a i l id: i n f o @ z o d i a c j r d m k j l t d . c o m RNI N o . M A H E N G / 2 0 1 3 / 5 3 7 1 7
Jhaveri sold, assigned and transferred her
2 TARUNACHANDNANI 00929184 621984 188203454
Maharashtra; (Herein after referred to as Shares and interest of the deceased member
188203653 200 NOTICE rights, title and interest in the said Flat to Mr.
in the claims property of the Society.
Readers s h o u l d w r i t e t h e i r f e e d b a c k a t
a "Said Flat") Mrs. Pushpa Keshavji Ashok P. Shah with the Share bearing distinctive
KANYALAL CHANDNANI Notice is hereby given that pursuant to Regulation 29 [email protected]
Gada has jointly purchased the said flat If no claims/objections are received within number 16 to 20 under the Share Certificate No.
read with Regulation 47 and other applicable regulation Fax : +91-11-23720201 29 issued by Adarsh Sharda CHS Ltd., (reg no.
3 KANYALALCHANDNANI 00011471 42501 113245511 113245610 100 from Pushpa Maa Foundation vide the period prescribed above, the Sodety
if any, of the Securities and Exchange Board of India BOM/HSG/5626 of 1978). Please take further
TARUNA CHANDNANI For Subscription and Circulation shall be free to deal with the Shares and the note that my client Mr. Ashok P. Shah intends to
( Listing Obligations and Disclosure Requirements) enquiries please contact: registered AgreementtorSale, executed
interest of the deceased member in the capital sell, assign, and transfer his right, title and
4 TARUNACHANDNANI 00011473 42503 113245711 113245810 100 Regulations,2015, a meeting of the Board of Directors of Ms. Mansi Singh on 27/06/2019. However, the original
/ property of the Sodety in such manner as is interest in the said Flat together with the said
KANYALAL CHANDNANI Head-Customer Relations shares to the Purchasers. Please take further
Zodiac - Jrd- Mkj Limited is scheduled to be held on documents i.e. Agreement of Sale, provided under the byelaws of the society.
Business Standard Private Limited. note the said Original Deed of Transfer dated 5th
5 KISHINDAS JADVANI (Deceased) 00938164 629177 194732314 194733313 1000
Wednesday, 27thJanuary, 2021, at Mumbai inter alia, to Index-ll and Original Receipts Dated The daims /objections, if any, received by September 1980 between Mr. Tulsidas
H / 4 & I/3, B u i l d i n g H, P a r a g o n C e n t r e ,
consider, approve and take on record the Unaudited 27/06/2019, executed in office of Sub the Sodety for transfer of shares and interest Ghanshyam Patel and Smt. Lilavanti Vithaldas
SANJAY JADVANI (Applicant) O p p . Birla C e n t u r i o n ,
Jhaveri with respect to the said Flat has been
Financial Results of the Company for the quarter and
RB.Marg, Worli, M u m b a i - 4 0 0 0 1 3 Registrar Borivali- 5 registered at serial of the deceased member in capital I property
lost and/or misplaced by my client and the same
6 KISHINDAS JADVANI (Deceased) 00937807 628869 194485514 194486513 1000 nine months ended 31st December, 2020.The intimation E-mail: [email protected] ofthe Society shall be dealt with in the manner is not traceable despite diligent efforts.
8447/2019, registered between Mr.
SANJAY JADVANI (Applicant) contained in this notice is also available on the website "or sms, SUB BSto 57007" provided under the bye-laws of the Society. Any person having any claim, share,right,title or
Keshavji Surji Gada and Mrs. Pushpa
of the Company at www.zodiacjrdmkjltd.com and on the A copy of the registered bye-laws of the interest in the said flat or in the said share byway
7 KISHINDAS JADVANI (Deceased) 00023230 76037-76038 116598201 116598400 200 Overseas subscription: Keshavji Gada (The Purchasers) and of mortgage, charge, gift, trust, use, possession,
website of the Stock Exchanges where the shares of the Sodety is available for inspection by the
SANJAY JADVANI (Applicant) (Mumbai Edition Only) Pushpa Maa Foundation (The Vendor) claimants /objectors, in the office of the
inheritance, tenancy, lease, lien, easement, or
Company are listed at www.bseindia.com and otherwise howsoever is hereby required to
8 KISHINDAS JADVANI (Deceased) 00023231 76039-76040 116598401 116598600 200 www.nseindia.com. One year subscription rate by air mail in respect of said flat is taken away/ society I with the Secretary of the society make the same known in writing together with
SANJAY JADVANI (Applicant) INR 51765 : USD 725 stolen, from Mrs. Pushpa Keshavji between 10.30 AM to 6.00 PM from the supporting documents to the undersigned within
For and on behalf of the Board of Directors 14 days from the date hereof otherwise claims, if
DISCLAIMER News reports and feature articles in Gada, by Mr. Keshavji Surji Gada by date of publication of the notice till the date any, shall be considered as waived and my client
9 KISHINDAS JADVANI (Deceased) 0023232 76041-76042 116598601 116598700 200 For ZODIAC-JRD-MKJ Limited.,
Business Standard seek to present an unbiased picture of expiry of its Period at society office. will complete the transaction with the
Sd/- breach of trust.
SANJAY JADVANI (Applicant) 116598701 116598800 of developments in the markets, the corporate world purchasers with respect to the saidflatwithout
Place: Mumbai Jayantilal Jhaveri and the government. Actual developments can turn out For and on behalf of For Ganesh Green any further notice in this regard.
10 KISHINDAS JADVANI (Deceased) 00937806 628868 194484514 194485513 1000 to be different owing to circumstances beyond Business Hence this notice is hereby given that
Date: 15/01/2021 Chairman Village Co-op Hsg Society Ltd Adv. Mitalee Mehta
SANJAY JADVANI (Applicant)
Standard's control and knowledge. Business Standard
no person's should do any transaction Partner @ M/s. YM Legal
does not take any responsibility for investment or busi- Place • Thane
Advocate For Mr. Ashok P. Shah
(AUTHORISED SIGNATORY) ness decisions taken by readers on the basis of reports whatsoever in respect of said flat without Date: 16/01/2021 Chairman / Secretary
and articles published in the newspaper. Readers are
Place : Mumbai sd/- expected to form their own judgement.
consent of Mrs. Pushpa Keshavji Gada. 8/B Shyam Bhuvan, Devji Bhimji

S.E. POWER LIMITED

Date : 16.01.2021 INDUSIND BANK LIMITED Business Standard does not associate itself with or If any person/s doing the same is doing at Lane.Mathuradas Road.Kandivali West,
Rameshwar Media
stand by the contents of any of the advertisements
her/ his/ their own risk and for that Mrs. Mumbai - 400067
accepted in good faith and published by it. Any claim

C I N : L40106GJ2010PLC091880 related to the advertisements should be directed to the Pushpa Keshavji Gada will not be liable/
Regd. Oft: Survey No. 54/B, Pratapnsgar,
advertisers concerned.
responsible. At the same any transaction
Jarod Savli Road, Samlaya, Vadodara-391520 (GJ) Unless explicitly stated otherwise, all rights reserved
by M/s Business Standard Pvt. Ltd. Any printing, pub-
done by any person in respect of said flat
FORM NO. NCLT 3A
Tel: 44126(7 251586, Mail: [email protected] lication, reproduction, transmission or redissemination the said transaction will not be binding on
DEMAND NOTICE Web: www.sepower.iii,phoenixriibbeiTeboni.com of the contents, in any form or by any means, is pro-
Mrs. Pushpa Keshavji Gada.
Advertising detailing petition

NOTICE
hibited without the prior written consent of M/s
Under Section 13(2) of the Securitisation And Reconstruction of Financial Assets And Enforcement of Security Interest Act, BEFORE THE NATIONAL
2002 (the said Act.) read with Rule 3 (1) of the Security Interest (Enforcement) Rules, 2002 (the said Rules). In exercise of Business Standard Pvt. Ltd. Any such prohibited and Sd/-
powers conferred under Section 13(12) of the said Act read with Rule 3 of the said Rules, the Authorised Officer of IIFL Home
Finance Ltd. (IIFL HFL) (Formerly known as India India Infoline Housing Finance Ltd.) has issued Demand Notices under Pursuant to Regulation 29 read with
unauthorised act by any person/legal entity shall invite
civil and criminal liabilities. Pushpa Keshavji Gada COMPANY LAW TRIBUNAL,
section 13(2) of the said Act, calling upon the Borrower(s), to repay the amount mentioned in the respective Demand Regulation 47 of the Securities and Mobile No-9930948461
KOLKATA BENCH AT KOLKATA
Notice(s) issued to them. In connection with above, notice is hereby given, once again, to the Borrower(s) to pay within 60
Exchange Board of India (Listing No Air Surcharge Place: Mumbai Date: 16/01/2021 PUBLIC NOTICE C. P. (C.A.A.) No. 1562/ KB /2020
days from the publication of this notice, the amounts indicated herein below, together with further interest from the date(s)
of Demand Notice till the date of payment. The detail of the Borrower(s), amount due as on date of Demand Notice and Obligations and Disclosure Notice is hereby given that my client is Connected with
security offered towards repayment of loan amount are as under:- Requirements) Regulations, 2015, intending to purchase the below mentioned
Demand Notice Date and Amount Notice is hereby given that a meeting of scheduled property from Mrs. Joana Nicholas
C.A. (C.A.A.) No. 826/KB/2020
the Board of Directors of the Company
N a m e of t h e B o r r o w e r (s)/Guarantor (s Description of secured asset (immovable property)
Mr. Yuvraj Ramchandra Pawar, 11-Jan-2021 For Prospect No.807767 All that piece and parcel of the property being : Flat No 304 Gomes, inhabitant of Mumbai, Daughter of IN THE MATTER OF Companies
Mrs.Lata Ramchandra Pawar, Royal Rs.12,17,645/- (Rupees Twelve Lakh E-Wing Golden Valley Sonivali Village, 00, Badlapur West - will be held on Friday, 22nd January, Late Mrs Anna Hubert Lobo. Act, 2013.
Mens Wear (Prospect No. 807767,
Seventeen Thousand Six Hundred Forty 421503, Sonivali Village, Badlapur, Thane, 421503, 2021 at CSC, Pocket-52, CR Park, New All persons claiming any share, right, title or
IL10073675 )
Five Only) For Prospect No.IL10073675 Maharashtra,India Delhi-110019 at 12:30 P.M., inter aha, to interest in the said property by way of sale, And
consider, approve and take on record the gift, lease, inheritance, exchange, mortgage,
OSBI
Rs.4,01,957/-(Rupees Four Lakh One
IN THE MATTER OF Section 230
Thousand Nine Hundred Fifty Seven Only
unaudited financial results of the charge, lien, trust, possession, easement,
Mr. Shailesh Kumar Narendra 11-Jan-2021 Rs.17,81,302/- (Rupees All that piece and parcel of the property being : Flat No 204, Company for the quarter/nine months attachment or otherwise howsoever are read with Section 232 of the
DATA CENTRES AND CLOUD DEPARTMENT, STATE BANK OF INDIA hereby required to make the same known to
Pandey, Mrs. Pooja Shukla Seventeen Lakh Eighty One Thousand admeasuring 44.60 sq mts, Wing A, Sundaram Mahim Road,
Three Hundred Two Only) ended 31st December, 2020, along with Survey No. 26, Opp. Main Gate Hyderabad Central University, the undersigned in writing alongwith
Companies Act, 2013 and other
(Prospect No. 830281) Balaji Enclave, Palghar West, Palghar, Maharashtra-401501
Limited Review Report thereon. Gachibowli, Hyderabad: 500019. necessary documentary proof thereof, at his
applicable provisions of the
Mr. Nitin Deepak Bendge, Mr. Deepak 11-Jan-2021 Rs.20,94,108/- (Rupees All that piece and parcel of the property being : Flat No 303,
This intimation is also available on the office at Shop no 5 and 6, C wing, Suyog CHS Companies Act, 2013.
Govind Bendje, Mrs.Dhvani Sanjay Twenty Lakh Ninety Four Thousand
One Hundred Eight Only)
3Rd Floor, Bldg No 2, Galaxy Garden, Vangani, Kaijat,
Raigad, Maharashtra website of the Company a t REQUEST FOR PROPOSAL REGARDING PROCUREMENT
Ltd.,Pandit Malharao Kulkarni Road, Near Don
Rughani ( P r o s p e c t No. 840279)
www.sepower.in and on the website of INSTALLATION, COMMISSIONING OF Bosco School, Borivali (W) , Mumbai
And
Mr. Jayantkumar Banwarilal Sahu,11-Jan-2021 Rs.7,05,820/- (Rupees All that piece and parcel of the property being : Flat No.
Mrs. Manju Jayantkumar Sahu Seven Lakh Five Thousand Eight Hundrec 211/B, A-Building, Ramchandra Apt. Chsl, Navghar Road,
the Stock Exchanges, BSE & NSE at C O L D AISLE CONTAINMENT SYSTEM FOR T H E 400092,within 15 days from the date hereof, In the Matter of: - The Companies
(Prospect No. 840329) Twenty Only) Bhayander(East), Thane, 401105, Maharashtra, India www.bseindia.com,www.nseindia.com. failing which the said sale will be completed, (Compromises, Arrangements and
SERVER HALL RACKS AT DRC-GACHIBOWLI, HYDERABAD without any reference to such claim and the
If the said Borrowers fail to make payment to IIFL HFL as aforesaid, IIFL HFL may proceed against the above secured assets By order o f t h e Board same, if any, shall be considered as waived. Amalgamations) Rules, 2016
under Section 13(4) of the said Act. and the applicable Rules, entirely at the risks, costs and consequences of the Borrowers.
For, further details please contact to Authorised Officer at Branch Office:- IIFL House, Sun Infotech Park Road No. 16V, Plot No.B-23, Thane
ForS. £ . Power Ltd. State Bank of India invites proposal from established and eligible SCHEDULE OF THE PROPERTY And
Industrial Area, Wagle Estate, Thane - 400604/Qr Corporate Office : IIFL Tower, Plot No.98, Udyog Vihar, Phase-IV Gurugram, Haryana.
Sd/- companies for Supply and Installation of Cold Aisle Containment for All that piece and parcel of vacant land
Place: Thane, Palghar, Raigad Date: 16-01-2021 Sd/- Authorised Officer For IIFL Home Finance Ltd. (IIFL HFL) (Saurabh Agarwal) all Server Halls at DRC Hyderabad. The RFP document may be admeasuring 458.2 sq.mtr and bearing
In the matter of: J. M. HOSIERY &
Dt: 13.01.2021 Company Secretary downloaded from Bank's Website www.sbi.co.in under Procurement Survey No. 202/E/3, CTS No. 470 of Vile Parte CO. LIMITED, 39, Kali Krishna
(West) Village, Taluka Andheri, MSD situated Tagore Street, Kolkata - 700 007
News. The proposal should be submitted to the office of Dy. General in K/West Ward at S V Road, Near Andheri Fire
Manager (DC&C) on the above address. Interested respondents may Brigade Office, Vile Parle (West) Mumbai ... Transferor Company 1
submit their bids before 3:00 PM on 05.02.2021. 400056. And
Sd/- Sd/-: Shop no 5 and 6, C wing , Suyog CHS
PUBLIC NOTICE Ltd.,Pandit Malharao Kulkarni Road, Near Don In the matter of: EBELL FASHIONS
Place: Hyderabad Deputy General Manager
Bosco School, Borivali (W), Mumbai 400092 PRIVATE LIMITED, PS Srijan
LOSS OF EXAMINATION SMIFS CAPITAL MARKETS LIMITED Date: 16.01.2021 (Data Centres & Cloud)
Sd/ - : 46,1 st Floor, 16A, Islam Building, Opp
Regd Office: 'Vaibhav' 4F, 4, Lee Road, Kris Korner Commercial Akbar-Allys, V.N Road, Mumbai- 400 023
Techpark, DN-52, 10th Floor, Salt
CERTIFICATE Kolkata-700 020
Plaza Premises Co- Op. RajendraChavan Lake City, Sector V, Kolkata-700 091
It is notified that my original
qualifying Examination
CIN NO: L74300WB1983PLC036342
Tel No. 033-2290-7400/ 740117402/0544 Soc. Ltd., having its address Advocate HighCourt Bombay
NavinTiwari
... Transferor Company 2

Certificate of main Secondary

Fax No. 033-2287-4042,2240-6884 at Ground Floor, Kris Korner Advocate HighCourt Bombay
And
E-mail:[email protected], [email protected]
Commercial Plaza, opp. swastik In the matter of: LUX INDUSTRIES

pnv NMDC Limited

Examination of the year 2020, Website: www.smifscap.com
NOTICE is hereby given that pursuant to
Residency, off Ghodbunder LIMITED, 39, Kali Krishna Tagore

Road Kavesar, Thane (West) -

School: Seven Square Street, Kolkata - 700 007
Regulation 29 read with Regulation 47 of the r l (A GOVERNMENT OF INDIA ENTERPRISE)
Academy, Roll No. 15171535,
SEBI (Listing Obligation and Disclosures 400 615, have received applic- 1 i "Khanij Bhavan", 10-3-311/A, Masab Tank, Hyderabad-500 028.
... Transferee Company
issued by CBSE has been Requirements) Regulations, 2015, that the
Meeting of the Board of Directors of the ation for membership inrespect Email : [email protected] And

of 50% undivided rights, cla-

actually lost. CIN : L13100TG1958GOI001674
1. J. M. HOSIERY & CO. LIMITED
Company will be held on Friday, 12 February,
im, shares and interest in the
Tender Ref: H Q M M / 7 0 0 4 - 1 9 / 1 7 T N 1 7 / l i m e s t o n e / 2 8 9 Date: 1 6 - 0 1 - 2 0 2 1
Name of the candidate: 2021 atthe registered office ofthe Company at 2. EBELL FASHIONS PRIVATE
OPEN TENDER NOTICE
Neel Jatin Mehta 11:30 a.m. inter-alia to approve the un-audited
financial results for the quarter ended office premises admeasuring Tenders a r e invited f r o m r e p u t e d m a n u f a c t u r e r s directly or t h r o u g h their a c c r e d i t e d
LIMITED
Full address: 103/ Gaurav December31,2020. about 380 Sq.Ft. area Bearing agents in India f o r s u p p l y of 7 0 0 0 M T of L i m e s t o n e t o N M D C Limited, Pellet Plant, 3. LUX INDUSTRIES LIMITED
tower, Brij Bhoomi Complex, Further the said notice would also be available No. 1C (out of Unit Bearing Ranjitpura, Donimalai, Bellary District, Karnataka as per t h e details f u r n i s h e d in t h e ... APPLICANTS
Near. Veg Saagar Hotel, Opp.
on the website of the Company viz.,
www.smifscap.com and on the website of the No. 1) on 2nd Floor of the tender document. NOTICE OF PETITION

Building known as Kris

Qty. Display & Sale of Last d a t e & t i m e f o r Tender f e e A petition under Section 230 read
Maxus Mall, Bhayander BSE Limited viz., www.bseindia.com where Description
(MT.) Tender D o c u m e n t s s u b m i s s i o n of offer in Rs. with Section 232 of the Companies
the Shares ofthe Company are Listed.
(West), Pin code: 401101, Dist. Korner commercial plaza Supply, Transportation, Act, 2013 for the purpose of passing
ofthe SocietyfromMRS. BHA-
16-01-2021 15-02-2021 Rs. 5900/-
Thane State: Maharashtra By Order of the Board Loading, Unloading of 7000 to by incl. necessary orders and if thought fit
Phone:9004137772
For SMIFS Capital Markets Limited
GYASHRIJAYANT CHAUD- 7000MT Limestone 15-02-2021 2:30 PM of GST tor approving and/or sanctioning with
Sd/-
HARI and for transfer of me- The d e t a i l e d i n f o r m a t i o n of t h e t e n d e r c a n b e o b t a i n e d f r o m o u r w e b s i t e s under
© kotak®
or without modification the Scheme

mbership rights in respect of

(Poonam Bhatia) of Amalgamation proposed to be
e - p r o c u r e m e n t s e c t i o n www.nmdc.co.in;www.eprocure.gov.in a n d
Place: Kolkata Company Secretary-cum- made between J.M. Hosiery & Co.
Date: 16.01.2021 Senior Manager Legal office Bearing No.lC in place www.mstcecommerce.com/eprochome/nmdc of M S T C Ltd. A n y Corrigendum t o
KOTAK MAHINDRA BANK LIMITED Limited, Ebell Fashions Private
of Late Shashikant Hira- t h e a b o v e Tender N o t i c e w i l l be uploaded o n l y o n o u r w e b s i t e www.nmdc.co.in CIN- L65110MH1985PLC038137
Limited and Lux Industries Limited
man Bhirud a present mem-
& www.mstcecommerce.com/eprochome/nmdc a n d w i l l n o t b e p u b l i s h e d . Registered Office: 27BKC, C 27, G Block,
Prospective bidders should visit t h e a b o v e w e b s i t e s f r o m t i m e t o t i m e t o note t h e Bandra Kurla Complex, Bandre (E), Mumbai - 400 051. was presented by the Advocate for
ber ofthe society & therefore corri endum
g , ifany. Chief General Manager (Materials)
Tel:+91 22 61660001, Website: www.kotak.com the petitioners on 6th January, 2021
SHREYAS INTERMEDIATES LIMITED undersigned hereby invites NOTICE is hereby given that a meeting
and by order dated 6th January,
(CIN:L24120PN1989PLC145047)
claims or objectionsfromthe of the Board of Directors of Kotak
2021 of the Hon'ble Tribunal, the
said petition is fixed for hearing
Reg. Address : Plot No. D-21, D-22 & D-23, M. I. D. C.
Industrial Estate, Lote Parshuram, Taluka Khed, District : Ratnagiri-415722 public in general or other Mahindra Bank Limited will be held
before the Kolkata Bench of National
Tel. No. : + 9 1 - 2 3 5 6 - 2 7 2 4 7 1 ; Fax No. : + 9 1 - 2 3 5 6 - 2 7 2 5 7 1 claimant/s or objector/s for on Monday, January 25, 2021 to,
Company Law Tribunal on 8th
transfer of membership rights
ty-iti
Website : www.shreyasintermediates.co.in; Email : [email protected] inter alia, consider and take on record the
March, 2021. Any person desirous
in respect of office No. 1C in Kriti Nutrients Ltd. Unaudited Standalone and Unaudited
of supporting or opposing the said

favour of Mrs. Bhagyashri

Consolidated Financial Results of the
Pursuant to Regulation 29 read with Regulation 47 of the Securities CIN : L24132MP1996PLC011245 m Bank for the quarter and nine months
petition should send to the

Jayant Chaudhari. if no
COOKING O I L
and Exchange Board of India (Listing Obligations and Disclosure Regd. Office: Mehta Chambers, 34, Siyaganj, Kriti G r o u p petitioners' Advocate, notice of his
lndore-452 007 Phone: 0731-2719100/26 ended December 31,2020. intention, signed by him or his
claim/s or objection/s received
Requirements) Regulations, 2015, Notice is hereby given that a
meeting of the Board of Directors of the Company is scheduled E-mail: [email protected], Website: www.knl.kritiindia.com advocate, with his name and
to be held on Thursday, 11th February, 2021 inter alia, to consider, within a period of 15 days For Kotak Mahindra Bank Limited
address, so as to reach the
approve and take on record the Statement of Unaudited Financial from the publication of this NOTICE
Sd /-
petitioners' advocate not later than
Results (Provisional) of the Company for the third quarter ended Notice, then the society will Notice is hereby given that pursuant to Regulation 29 and 47 Avan Doomasia two days before the date fixed for
31st December, 2020.
transfer membership rights of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, (04/2020-21) Meeting of Board of Directors of
Mumbai
January 15,2021
Senior Executive Vice President
& Company Secretary
hearing of the petition. Where he

inrespect of 50% undivided

Further, as per the Company's Code of Conduct for the Prevention seeks to oppose the petition, the
the Company is scheduled to be held on Friday, 22nd January, grounds of opposition or a copy of
of Insider Trading, the Trading Window for dealing in shares of the
rights/ claim/shares and inte- 2021 at the Corporate Office situated at "Brilliant Sapphire, his affidavit will be furnished with
rest in the Office Bearing No.
Company shall remain closed for all Designated Employees and
801-804, 8th Floor, Plot No. 10, Scheme 78-II, Vijay Nagar, such notice. A copy of the petition
Directors from 1st January, 2021 till 48 hours after declaration of
results. 1C in favour of Mrs. Bhag- Indore (M.P.), inter alia to consider and approve the Un-audited will be furnished by the undersigned
Notice issued to the Bombay Stock Exchange in this regard can be yashri Jayant Chaudhari. Financial Results of the Company for the Quarter and Nine Months
Ended 31st December, 2020.
to any person requiring the same
on payment of the prescribed
accessed on the Company's website www.shreyasintermediates. This information is also available on the website of the company
SD/- charges for the same.
co.in and also on the website of Bombay Stock Exchange at
www.bseindia.com. For and on behalf of Kris at www.knl.kritiindia.com and on website of BSE Ltd. at
www.bseindia.com
Dated the 16th day of January, 2021

Korner Commercial Plaza For Kriti Nutrients Limited Sd/-

For SHREYAS INTERMEDIATES LIMITED
Premises Co-op. Soc. Ltd.,
Sd /- Debanjan Mandal, Partner
Sd/-
Place: Indore Sachin Upadhyay Fox & Mandal, Advocates
Hon. Secretary.
Suryaprakash Pandey
Date: 15th January, 2021 Company Secretary 12, Old Post Office Street,
Place: MUMBAI Director
Date : 16 Jan, 2021 DIN: 01898839 Kolkata-700 001
Place; Thane |W) Date: 16 Jan 2021 (Advocate for the petitioners)

•• •• •• •• •• •• •• ••
Original Uploaded fast update byhttps://t.me/English_Newspeper_L_Banna_sa
 Weekend Business Standard
FORM NO. URC. 2
Advertisement giving notice about registration under Part I of
Chapter XXI of the Act
[Pursuant to section 374(b) of the companies Act, 2013 and rule 4(1) of the
companies (Authorised to Register) Rules, 2014]
1. Notice is hereby given that in pursuance of sub-section (2) of section 366 of the
MUMBAI | 16 JANUARY 2021 15
Companies Act, 2013, an application has been made to the Registrar at Mumbai
that PRANJEEL WORLDWIDE SOLUTIONS LLP may be registered under Part I of
"~ , as a Company limited by shares.
„ . „ , e as follows:
To carry on the business in India or abroad to run warehouse, clearing & forwarding
business, trading, take on lease, rent, hire and to construct, build, establish, erect,
promote, undertake, acquire, own, operate, equip, manage, renovate, recondition,
THE TATA POWER COMPANY LIMITED
turn to account, maintain and to run warehouse, godowns, open platform,
refrigeration houses, store, supply chain management and other similar Regd Office Bombay House 24 Homi Mody street, Bombay 400 001 . ALCHEMIST TOWNSHIP INDIA LIMITED Netafim Agricultural Financing Agency Private Limited
1 1 Regd. Office: Premises No.1602 And 1603, The Affaires, Plot No.9,
establishment to provide facilities forr storage of * commodities, goods article and
NOTICE is here given that the certificates for the under mentioned securities of the company (Undergoing Corporate Insolvency Resolution Process)
things, Sector 17, Palm Beach Road, Sanpada, Navi Mumbai 400705,
has/have been lost/mislaid and the holder (s] of the said securities /applicant (s] has/have GENERAL PUBLIC ANNOUNCEMENT Maharashtra, India Tel: 022-61707667 CIN: U67190MH2011PTC220385
applied to the company t o issue duplicate share c e r t i f i c a t e s . ^ ^ ^ ^ ^ ^ ^ H I ^ ^ ^ I
All the stakeholders of Alchemist Township India Limited (ATIL) (Corporate Debtor) are JOINT PUBLIC NOTICE
4. Notice is hereby given that any person objecting to this application may Any person who has a claim in respect of the said securities should lodge such claim with
hereby informed that the undersigned has set up the website and helpline numbers for the This notice is being used jointly by Netafim Agricultural Financing Agency
communicate their objection in writing to the Registrar at Central Registration the company at its Registered Office within 15 days from this date, else the company will
Centre
" " (CRC),
' Indian Institute of Corporate
Corporate Affairs
* " " (IICAJ,
' * Plot
- — No. 6 , 7 , 8 , Sector
• 5, - convenience of stakeholders and for resolving their queries pertaining to the filling and Private Limited ("Company") and Netafim Singapore Holdings Pte. Ltd.
IMT, Manesar, District Gurgaon (Haryana), Pin Code-122050 within twenty ..... .one
... proceed to issue duplicate share certificate [s] without further M m a t i o n . ^ ^ ^ ^ H
filing of claims in the matterof Alchemist Township India Limited. ("Acquirer") and Atma Ram Properties Private Limited and GHIOF Mauritius
days from the date of publication of this notice, with a copy to the company at its
registered office. Name of the Shareholders Kind o f securities No.of Securities Distinctive Number (s) (collectively, "Sellers") pursuant to Paragraph 6 4 of the Master Direction -
& Face value
Email Id: [email protected];
Dated this 15 day of January 2021 Non-Banking Financial C o m p a n y - Non-Systemically Important Non-Deposit
Name(s) of Applicant
A n a n d Mohan Thakur Equity Shares, Rs 2 1 - 2160 65613751-65615910 Website: https://atil.cirpsolutions.com/
1. Prakash V. Charatkar taking Company (Reserve Bank) Directions, 2016 bearing reference no.
2. Jayshankar Mayashankar Mishra Helpline Nos.- 9818027344, 9818948335,9818948536, Master Direction DNBR.PD.007/03.10.119/2016-17 issued by the Reserve
P l a c e : Raipur A n a n d Mohan Thakur
N a m e O f holder(s) /Applicants 9818948171,9818947730 Bank of India ("RBI") ("RBI Directions").
Date :16-1-2021
Beckground
(Timing: 10AM - 6PM) D , Devendra Singh
The Company is a non-deposit taking non-systemically important non-banking
KasTa Kriti Industries (India) Ltd. f M Resolution Professional
In the matter of Alchemist Township India Limited
financial company registered with the RBI in terms of the certificate of
CIN : L25206MP1990PLC005732 V J ^ registration dated March 5 , 2 0 1 3 bearing reference number N-13.02041 and
Pipes & Fittings Regn. No.: IBBI/IPA-002/IP-N00001/2016-17/10001
Regd. Office: Mehta Chambers, 34 Siyaganj, Kriti Group having its registered office at Premises No.1602 And 1603, The Affaires, Plot
lndore-452 007 Phone: 0731-2719100/ 26 WE'LL BE MOVING OUR Date: 16.01.2021
Communication Add: D-54, First Floor,
Defence Colony, New Delhi-110024
No.9, Sector 17, Palm Beach Road, Sanpada, Navi Mumbai 4 0 0 7 0 5 ,
Maharashtra, India.
OFFICE TO THE NEW ADDRESS
E-mail: [email protected], Website: www.kiil.kritiindia.com
Place: New Delhi Email id: [email protected] The Acquirer is a company incorporated on June 10,2011 under the laws of
NOTICE
SHORTLY
Singapore with registration number 201113917N and having its registered
KOPARKHAIRANE (5499) BRANCH : office at 50 Raffles Place, #32-01 Singapore Land Tower (048623). It is the
Notice is hereby given that pursuant to Regulation 29 and 47
of SEBI (Listing Obligations and Disclosure Requirements)
tfcoM
_ f® Canara AGovL or India Undartad
l ng
Plot No. 92, Sector-15, Koparkhairane,
Navi Mumbai -400 709;
current holder of 51 % of the equity shares of the Company.
The Sellers are the holders of the balance 4 9 % of the equity shares of
Regulations, 2015, (04/2020-21) Meeting of Board of Directors of Tel. No. (022) 2754 1399 / 4015
the Company is scheduled to be held on Friday, 22nd January,
f ffifNid Syndicate
I Email: [email protected]
the Company.
Proposed Transaction and Reason for Proposed Transaction
2021 at the Corporate Office situated at "Brilliant Sapphire,
nwiii P O S S E S S I O N N O T I C E (For Immovable property) The Acquirer seeks to acquire the entire paid up share capital of the Company
801-804, 8th Floor, Plot No. 10, Scheme 78-II, Vijay Nagar, ANNEXURE-10 (SECTION 13(4) by purchasing all the shares held by Sellers in the Company. In conjunction
Office No. 1A, 1st Floor, Old S u c h a k Niwas,
Indore (M.P.), inter alia to consider and approve the Un-audited WHEREAS, The undersigned being the Authorized Officer of the Canara Bank with this transaction, there would also be an infusion of funds into the Acquirer.
M u r b a t Road, Kalyan - 4 2 1 3 0 1 . Following the consummation of this transaction, the Acquirer shall continue
Standalone & Consolidated Financial Results of the Company for under Securitization and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (Act 54 of 2002) (hereinafter referred to as "the Act") and to be the majority shareholder of the Company, with its existing shareholding
the Quarter and Nine Months Ended 31 st December, 2020.
E3 in exercise of power conferred under Section 13 (12) read with Rule 3 of the Security increasing from 5 1 % to 100%. The Proposed Transaction will provide the
This information is also available on the website of the company Interest (Enforcement) Rules 2002, issued a Demand Notice dated 01.08.2019
Cholamandalam MS General Company with means to further strengthen its regulatory capital and provide
at www.kiil.kritiindia.com and on website of BSE Ltd. at calling upon the borrower Shri. Laxman Dnyandeo Parte & Mrs. Meena Laxman
Insurance Company Limited, it with further growth capital. It will also provides the Company with enhanced
www.bseindia.com. | n d u s t r i e s ( | n d i a ) Limited and Surity Mr. Suresh P. Shelar and Mr. Anand Ganpat Parte to repay the amount
F o rKritj
S h o p No. 4&6, G r o u n d Floor, availability of capital, through direct/indirect equity infusions, by reputed,
Sd /- mentioned in the notice, being t 73,39,996.46 (Rs. Seventy Three Lakhs Thirty
Kulashree A p a r t m e n t , O p p o s i t e Birla School, international financial investors, as well as an ongoing partnership and support
Place: Indore Apeksha Baisakhiya Nine Thousand Nine Hundred Ninety Six and Fourty Six Paisa Only) within 60
Kalyan RTO Road, D i s t r i c t - T h a n e , days from the date of receips of the said notice.
from such global investors.
Date: 15th January, 2021 Company Secretary RBI Approval
Kalyan W e s t - 4 2 1 3 0 1 . Shri. Laxman Dnyandeo Parte having failed to repay the amount, notice is hereby
given to the owner of the property Shri. Anand Ganpat Parte and public in general The Company has received the no objection dated January 13, 2021 of the
that the undersigned has taken possession of the property described herein below RBI issued under Paragraph 61 of the RBI Directions in relation to the
b* Chola< MS
KESAR PETR0PR0DUCTS LIMITED rPXTDD A T TTVTCfTD ATXTnU
GENERAL INSURANCE
in exercise of power conferred on him / her under section 13(14) of the said Act,
read with Rule 8 & 9 of the said Rule on this 11th day of January of the year 2021.
proposed change in shareholding of the Company in favour of the Acquirer
("RBI Approval"). Pursuant to the RBI Directions and the RBI Approval, the
(CIN:L23209PN1990PLC054829) The borrower in particular and the public in general are here by cautioned not Company is required to make a public notice of at least 3 0 days before
REG. Address : D-7/1, MIDC, Lote Parshuram,Taluka Khed, to deal with the property and any dealings with the property will be subject to effecting the Proposed Transaction.
District - Ratnagiri - 4 1 5 7 2 2 Tel: 0 2 3 5 6 2 7 2 3 3 9 the charge of Canara Bank, Koparkharne Branch, Navi Mumbai Branch for an
Any clarifications and/or objections in this regard may be sent to the Company
Principal amount of t 50,88,452.00 (Rs. Fifty Lakhs Eighty Eight Thousand Four
Website : www.kesarpetroproducts.com, Email : [email protected]
BHARAT CARPETS LIMITED Hundred Fifty Two Only) and interest thereon, cost etc.
within 3 0 days from the date of this notice, addressed to Mr Prabhat
Chaturvedi/ Mr.Vijay Kumar Singh, at the registered office address of the
NOTICE Regd. Office: S-2/D, Second Floor, Shop Cum Facility Centre, The borrower's attention is invited to the provisions of Section 13 (8) of the Act, in
respect of time available, to redeem the secured assets. Company or email at [email protected]/[email protected]
Pocket-A, Sector-3, DSIIDC Industrial Complex, Bawana, Delhi-110039
Pursuant to Regulation 29 read with Regulation 47 of the Securities DESCRIPTION OF THE IMMOVABLE PROPERTY Sd/-
CIN: U17220DL1965PLC004500
and Exchange Board of India (Listing Obligations and Disclosure All that part and parcel of the property consisting of Flat No. C-302, 2nd floor, Jai Netaflm Agricultural Financing Agency Private Limited
Requirements) Regulations, 2015, Notice is hereby given that a For Private Circulation to the Eligible Shareholders Gurudev Complex CHS. Ltd. On land bearing Survey No. 269/2 + 3B + 5, 269/4, Place: Navi Mumbai Sd/-
meeting of the Board of Directors of the Company is scheduled of our c o m p a n y only 269/6 etc., Village : Kalher, Taluka : Bhivandi, Distric : Thane and admeasuring about Date: January 15, 2021 Netafim Singapore Holdings Pte. Ltd.
520 Sq. Ft. and Bounded • on the North by : internal Road • On the South by :
to be held on Thursday, 11th February, 2021 inter alia, to consider, Issue of 10,50,000 Equity Shares of Rs. 101- each of our company for Internal Road • on the East by : Internal road • on the west by : The building No. D
approve and take on record the Statement of Unaudited Financial cash at a price of Rs. 101- per Equity Share for an aggregate amount owned by Mr. Anand Ganpat Parte.
Results (Provisional) of the Company for the third quarter ended of Rs. 1,05,00,000/- to the eligible Equity Shareholders on Rights Date : 11.01.2021 Sd/-
31st December, 2020. Basis in the ratio of 3 Equity Share for every 1 Equity Share held by Place : Koparkhairane, Navi Mumbai Authorised Officer, Canara Bank
Further, as per the Company's Code of Conduct for the Prevention the eligible Equity Shareholderon the record date, i.e 29.12.2020
of Insider Trading, the Trading Window for dealing in shares of the Notice to the Eligible Equity Shareholders of our Company
Company shall remain closed for all Designated Employees and
Issue Schedule
Directors from 1st January, 2021 till 48 hours after declaration of
results. Issue opens on: Issue closes on:
Monday, January 18,2021 Monday, February 01,2021
Notice issued to the Bombay Stock Exchange in this regard can
be accessed on the Company's website www.kesarpetroproducts. Eligible Equity Shareholders may please note that the letter of offer
com and also on the website of Bombay Stock Exchange at www. and the application form has been dispatched on 13/01/2021. It is
bseindia.com. further to be noted that Equity Shares can be allotted only in
For Kesar Petroproducts Limited Dematerialized Form.
Sd/- Please note that application on plain paper cannot be submitted,
Mohit Kaushik where an investor submits application forms along with plain
paper/s, for Rights entitlements, it shall be liable to be rejected.
Place: MUMBAI Executive Director and CEO
Date : 16 Jan, 2021 DIN : 06463483 For and on behalf of Board of Directors,
M/s Bharat Carpets Ltd.
Sd /-

A C R I I STATE BANK OF INDIA

^ W V U I | STRESSED ASSETS M A N A G E M E N T BRANCH - I
Date: 15.01.2021
Place: New Delhi
(Bhupinder Kumar Seth)
Director
Authorized Officer's Details: Address of the Branch:
Name: Shailendra H Joshi T h e Arcade, 2 nd Floor, W o r l d Trade Centre,
Outstanding Date of Gross
E-mail: t e a m 3 . 0 4 1 0 7 @ s b i . c o . i n Cuffe Parade, Colaba, M u m b a i - 4 0 0 0 0 5 . Customer Name Loan A/c No.

J ^ AXIS BANK Ltd.

Mobile No.: 9 9 8 7 1 2 4 7 6 7 E-mail ID of Branch: [email protected] Amount Recall Notice Weight
Landline No. (Office): 0 2 2 - 2 2 1 7 7 6 6 9
MIRA ROAD, MUMBAI [MH]
E-AUCTION SALE NOTICE
SALE OF MOVABLE AND IMMOVABLE ASSETS CHARGED TO THE BANK UNDER THE Jayesh Prakash Ambre 920060029225681 110259 26-Dec-20 0
SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS & ENFORCEMENT
OF SECURITY INTEREST ACT, 2002. Public Notice for Auction NiALASOPARA(W), MURABAI [MH]
The undersigned as Authorized Officer of State Bank of India has taken over possession of
Santosh Surendra Singh 920060049922511 150535 26-Dec-20 53.78
the following property/ies u/s 13(4) of the SARFAESI Act. Public Notice For - Auction Of Pledged Assets Being Gold Ornaments
Public at large is informed that E-Auction (under SARFAESI Act, 2002) of the charged
The Borrowers, in specific and the public in general are here buy notified that publicauction of the gold ornaments pledge in the NERUL-EAST,MUMBAI [MH]
property/ies in the below mentioned cases for realisation of Bank's dues will be held on "AS
IS WHERE IS BASIS and AS IS WHAT IS BASIS". below accounts is proposed to be conducted by the Axis Bank at the below mentioned Branch.
SubhakarVRai 920060050260842 136120 26-Dec-20 0
N a m e Of Borrower(s) M/s. SANAA SYNTEX PVT. LTD., IN LIQUIDATION That the below mentioned Borrowers has availed the credit facility from the Axis Bank Limited against the pledge of gold
Registered Address: Unit No. 135, Sanjay Building No. 5-B, Mittal ornaments ("Gold Loan Facility") in favour of the Bank towards the security. The Demand notices were issued to the SION, MUMBAI [MH]
Industrial Estate, Andheri Kurla Road, Mumbai - 400059. Borrowers/Guarantors calling up the Borrowers/Guarantors to pay their outstanding amount towards the Gold loan facility
258.64
Liquidator: Mr. Anuj Bajpai, C/o. - Headway Resolution and
availed. As the Borrowers/Guarantors have failed to repay the outstanding loan amount, the bank is constrained to invoke the Mohd Mehtab Shaikh 919060081691750 454523 26-Dec-20
Insolvency Services Pvt. Ltd., 1006, Raheja Centre, 1 0 " Floor,
Nariman Point, Mumbai - 400021.
pledge and proposed to conduct an auction sale of pledged gold ornaments more particularly described in schedule of Mainuddin Khan 919060007347943 169648 25-Feb-20 77.9
property hereunder on 27 Jan 2021 at 11.00 a.m. on "As In Where Is", "As Is What Is", "Whatever There Is" and "No Recourse
Name of Guarantor(s) 1) Mr. Sunil Kathuria, Benhur C-Wing, Flat No. 103, 1 " Floor,
Basis". Auction will be held at Siddharth Mohan Hatkar 919060074176958 99998 17-Nov-20 49
New Link Road, Lokhandwala Complex, New Link Road, Andheri
(West), Mumbai - 400053.
Masapogu Yesuraju 919060073918234 39345 17-Nov-20 21.52
2) Mrs. Sunita Kathuria, Benhur C-Wing, Flat No. 103, 1" Floor, Gross
Outstanding Date of
New Link Road, Lokhandwala Complex, New Link Road, Andheri Customer Name Loan A/c No. Prakash Yashvant Sarvade 920060040791880 53153 22-Sep-20 20.1
(West), Mumbai - 400053. Amount Recall Notice Weight
3) Mr. Anil Kathuria, Flat No. 1705/1706, Beverly Hills, Royal THANE [MH]
ANDHERI(W), MUMEIAI [MH]
Empire Co-Op Housing Society, Near Lokhandwala Circle, Opp.
Shastri Nagar, Andheri (West), Mumbai - 400053.
Ravi Hiranand Chandnani 920060050806291 Chhaya Nilesh Kothari 920060050143653 1416264 27-Nov-20 481.40
8817488 27-Nov-20 255.23
4) Mrs. Neeta Anil Kathuria, Flat No. 1705/1706, Beverly Hills,
Royal Empire Co-Op Housing Society, Near Lokhandwala Circle, Swapnil Ravikant Gurav 920060039813537 89777 30.10 Madiha Abdulrehman Sayed 919060076969796 46392 27-Nov-20 20.10
22-Sep-20
Opp. Shastri Nagar, Andheri (West), Mumbai - 400053.
5) Mr. Sushil Kathuria, Benhur C-Wing, Flat No. 103, 1" Floor, Sarita Sukhraj Jeswal Anand Sharad Patwardhan 920060049815316 855372 26-Dec-20 0
920060049979876 273859 26-Dec-20 0
New Link Road, Lokhandwala Complex, New Link Road, Andheri
(West), Mumbai - 400053. Harish Sharma 920060006306123 132202 17-Nov-20 48.62 Sachin Narendra Singh 919060097395541 163331 17-Nov-20 81.6
Outstanding Dues for Rs. 27, 89, 40,079.00 as on 10.02.2017 + interest at contracted Anand Sharad Patwardhan 920060050386960 148977 26-Dec-20 0
Recovery Property/ies rate till date thereon + expenses less recoveries. Leena Shivkumar Vishwakarma 919060081672351 102422 28-Jan-20 44.58
is/are Being Sold ULHASNAGAR [MH]
Nadia Mohammad Altamash Saudagar 918060079088134 107357 22-Sep-20 79.09
Name of Owner / M/s. Sanaa Syntex Pvt. Ltd.
Title Deed Holders Farida Mohsin Shaikh 919060095500561 74663 22-Sep-20 24.85 Dinesh Keshav Singh 919060022042568 153160 26-Dec-20 81.9
Description of Lot 1: Land & Building and Plant & Machineries at Plot No.
Nirmala Ravindra Baviskar 920060039423147 42909 26-Dec-20 22.41
Property 710/1&2, 3 r d Phase, GIDC, Umbergaon, Dist. Valsad, Gujarat Amit Bapu Shinde 919060085183066 54936 26-Dec-20 25.88
admeasuring area about 2547 sq.mtrs (approx) in the name of VASHI, MUMBAI [ MH]
Company. BOISAR, THANE [MH]
»Lot 2: Land & Building and Plant & Machineries at Plot No. 1516, Sagar Balu Lad 920060049762762 300972 27-Nov-20 103.80
Unit No. 3, 3 rd Phase, GIDC, Umbergaon, Dist. Valsad, Gujarat Amol Devendra Tathe 918060028815989 58811 25-Nov-19 24.62
admeasuring area about 2030 sq.mtrs (approx) in the name of Sagar Balu Lad 920060049765868 241079 27-Nov-20 83.50
Company.
BORIVALI(W), MUMEIAI [MH]
Reserve Price (R. P.): Earnest Money Deposit (EMD): 236497 17-Nov-20 123.25 Mahesh Pichumani Thevar 919060079644728 291824 26-Dec-20 128.4
Jai Prakash 919060089295086
Lot 1: Rs. 4,42,00,000.00 Lot 1: Rs. 44,20,000.00
Mahesh Pichumani Thevar 919060090651198 94747 26-Dec-20 39.5
Lot 2: Rs. 3,36,00,000.00 Lot 2: Rs. 33,60,000.00 Nitin P Dandekar 920060044022344 259126 26-Dec-20 0
Bid Increment Amount in multiple of Bid increase amount Rs. 5.00 Lakh VILE PARLE(E), MUMBAI [MH]
Nitin P Dandekar 919060039450039 210431 26-Dec-20 0
Date & Time of Inspection o n 11.02.2021, f r o m 1 2 : 0 0 p . m . t o 0 2 : 0 0 p.m.
DADAR, MUMBAI [MH] Venkatesh V Devendra 919060047954462 185898 17-Nov-20 106.70
Date & T i m e of E-Auction o n 18.02.2021, f r o m 1 2 : 0 0 p . m . t o 0 2 : 0 0 p.m.
Date & Time for Submission of 16.02.2021 on or before 04:00 p.m. Dnyanesh Rajaram Battin 920060050081076 704748 27-Nov-20 240.48 Carlos Dsilva 920060017748530 163548 26-Dec-20 0
Request Letter of Participation / E - A u c t i o n site: h t t p s : / / w w w . m s t c e c o m m e r c e .
K Y C D o c u m e n t s / Proof of E M D etc. c o m / a u c t i o n h o m e / i b a p i / i n d e x . j s p VIRAR [MH]
Prashant Mahindra Chogle 920060050143491 126790 27-Nov-20 40.15
E-Auction is being held on "AS IS WHERE IS" and "AS IS WHAT IS BASIS" and will be
Prashant Mahindra Chogle 920060050140078 125760 27-Nov-20 39.85 Avinash Harichandra Rane 919060086125779 103358 17-Nov-20 55.75
conducted "On Line". The auction will be conducted through the M/s. MSTC Ltd. at the web
portal (https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp). Priti Kiran Shah 918060076216561 179887 17-Nov-20 89.03
Contact Persons: Mr. Shri Argha Sengupta- CM, Mob No. 09231690249, E-mail: argha@ Prashant Mahindra Chogle 920060050102403 113750 27-Nov-20 50.30
mstcindia.co.in, Mr. Sarabani Barai- Manager, Mob. No. 09051077886, E-mail: sbarai@mstc VivekAchyut Naik 920060050533771 2034037 27-Nov-20 1285.94
india.co.in, Mr. Rakesh Ranjan- AM, Mob. No. 09911700233, E-mail: [email protected]. Priti Nitin Chaulkar 919060027811482 665571 27-Nov-20 38.12
E-Auction Tender Document containing online E-auction Bid Form, Declaration, General Terms Sujata Nirmal Solanki 920060051181940 407169 26-Dec-20 0
Satish Vidyadhar Ranade 920060020114562 38751 2-Dec-20 74.87
and Conditions of online auction sale are available in websites (https://www.mstcecommerce.
com/auctionhome/ibapi/index.jsp). To the best of knowledge and information of the Authorised Vinayak Chandrakant Gulekar 920060051436161 260422 26-Dec-20 0
Malti Maindappa Suvama 920060051314061 1374259 26-Dec-20 0
Officer, there is no encumbrance on the property/ies. However, the intending bidders should
make their own independent inquiries regarding the encumbrances, title of property/ies put Naresh Matai 920060051317691 731652 26-Dec-20 0 TERMS & CONDITIONS OF TENDER
on auction and claims / rights / dues / affecting the property, prior t o submitting their bid.
The Base/Reserve price will be given on the auction day/date to the tenderers on which the auction bid
The E-Auction advertisement does not constitute and will not be deemed t o constitute any DOMBIVLI(E), MUMBAI [MH] will be considered. The bid/offers in the prescribed tender form provided by the bank shall only be
commitment or any representation of the bank. The property is being sold with all the
existing and future encumbrances whether known or unknown to the bank. The Authorised Haripriya Chandrakant Sapakale 920060049590156 373725 2-Dec-20 134.37 considered for bidding.
Officer/ Secured Creditor shall not be responsible in any way for any third party claims / rights/ Incomplete bid form/tender are treated invalid and shall liable to be rejected.
dues. The sale shall be subject to rules / conditions prescribed under the Securitisation and GHATKOPAR(E), MUMBAI [MH] The tender documents along with the terms and conditions shall be collected from the above branch.
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The tender document duly completed to be handed to the concerned branch official during working
It is to inform that an insolvency resolution process has been initiated against Sanna Syntex Jagdish Namdev Rankhambe 920060050084787 646724 27-Nov-20 215.80 hours on 27 Jan 2021
Pvt. Ltd. vide order dated 22.08.2017 passed by National Company Law Tribunal, Mumbai
Santosh Mishra 920060049721541 429761 26-Dec-20 0 Tenders received after the due date will not be considered.
Bench (Adjudicating Authority) in an application filed by financial creditor against the Corporate
Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016 (amended up t o date) The said properties is / are offered for sale on "As Is Where Is", "As Is What Is", "Whatever There Is"
(IBC).The Hon'ble NCLT, Mumbai Bench in Miscellaneous Application No. 1123/2018 titled as GOREGAON LINK ROAD, MUMBAI [MH And "No Recourse" Basis. The Bank does not undertake any responsibility to standard, purity and /or
Anuj Bajpai (Liquidator) - Applicant vs. State Bank of India (Respondent), in the matter of SBI any other dues, taxes, if any, in respect of the said property.
Global Factors Ltd. - Financial Creditor vs. Sanaa Syntex Pvt. Ltd. - Corporate Debtor vide its
Satish Kumar Dharmdev Yadav 920060039078886 99577 22-Sep-20 41.83
Tenders will be opened by the Bank on the auction date in the presence of the tenderers who may
order dated 08.04.2019 imposed a bar on Secured Creditor (i.e. State Bank of India) not to choose to remain present on the day and time as said above, inter alia, for raising / revising their
sell properties mortgaged in the loan account of corporate borrower to a person disqualified
KALYAN(W) [MH]
respective offers, at the above mentioned branches.
under Section 29A of the Insolvency Code, 2016 (IBC). Further in terms of regulation 37(8) of
Deepak Rajaldas Rohra 918060096798234 134219 2-Dec-20 98.20 Branch Name Mention Above AUCTION DATE: 27 JAN 2021
Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, Secured
Creditor who decided to sell the secured assets of the Corporate Debtor outside the liquidation Offer/tender once submitted cannot be withdrawn and bidder will liable to deposit the bid amount if there
Kamiya Amit Duseja 920060049720878 356134 27-Nov-20 146.14
process under the IBC, shall not sell or transfer an asset, which is subject to security interest, is single bid/offerfor particular article/asset/ornament.
to any person, who is not eligible under the Code to submit a resolution plan for insolvency LBS MARG, MULUND, MUMBAI [MH] If there are more than one bid for particular article/asset/ornament, inter-se bidding shall take place
resolution of the corporate debtor. amongst the bidder and highest bidder shall be declare as successful bidder.
The properties offered for sale under this notice are mortgaged with the Bank in loan account of Amol Haridas Komalkar 920060051082348 929501 27-Nov-20 590.8 Bidder should submit all KYC documents i.e. PAN Number, PAN Card, Aadhar Card & Address proof
Sanaa Syntex Pvt Ltd. Thus, the bidder should submit an affidavit duly stamped and attested by etc. .Biddershould submit valid E-mail ID&ContactNumber
Notary Public in the format as required by the Authorised Officer declaring that bidder is eligible Devayani Haridas Komalkar 920060051074295 909265 27-Nov-20 278.5
The Bank reserves itsrightto accept or reject the offer at its sole discretion.
under IBC Code, 2016 to submit a resolution plan, along with their bid. In the absence of said
affidavit the bid will not be accepted. MANPADA, MUMBAI [MH] Any disputes / differences arising out of sale of the said property/ offered for sale shall be subject to the
The other terms and conditions of the E-Auction are published in the following websites. exclusive jurisdiction of Courts/Tribunals at Mumbai only.
(1) https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp, (2) https://www.sbi.co.in Gitesh Ramesh Patel 920060050236234 122333 27-Nov-20 38.70
A u t h o r i z e d Officer,
Date: 16.01.2021 Sd/-
Husain Mayas Lakdawala 920060021327752 173357 26-Dec-20 0 Place : M u m b a i A x i s B a n k LTD.
Place: Mumbai Authorized Officer, STATE BANK OF INDIA

Original Uploaded fast update byhttps://t.me/English_Newspeper_L_Banna_sa

 16 MUMBAI i 16 JANUARY 2021 Business Standard

TATA CHEMICALS LIMITED NOTICE OF LOSS OF SHARE CERTIFICATE

R e g d . Office: Bombay House, 24, Homi Mody Street, Fort, NOTICE is hereby given that the following Share Certificate issued by the company
ICICIBank
Oi
Mumbai- 4 0 0 0 0 1 . are stated to have been lost or misplaced or stolen and I, the registered holder
ICICI Bank Limited S* ^JMm^sgm^r
Notice is hereby given that the Certificate^) for the under mentioned securities of thereof have applied to the companyfbrthe issue of Duplicate Certificates. EgjJ> Y L x m r i M n M
the Company has been lost/ mislaid and the holder(s) of the said securities/ Registered Office: ICICI Bank Tower, Near Chakli Circle, Old rfl .
Name of the Holders
No. of
Cert. No. Distinctive No. Jf A STAR ALLIANCE MEMBER
applicants) has applied to the company to issue duplicate Certificate. Shares Padra Road, Vododara, Gujarat - 390 007
JAYANTKUMAR KANTILAL SHAH 36843-36846 200 1628712 -1628911 NOTICE INVITING TENDER
Any person who has a claim in respect of the said securities should lodge such claim Corporate Office: ICICI Bank Tower, Bandra Kurla Complex,
with the Company at its Registered Office within 15 days from this date, else the The public is hereby warned against purchasing or dealing in anyway, with the above Sub: Air India Ltd. Inviting bids for Supply of Navigation Database
Mumbai - 400 051 (NavDB) and Supply of Navigation Data Charting & EFB Services.
Company will proceed to issue duplicate certificate^) without further intimation. Share Certificates. Any person(s) who has/ have any claim(s) in respect of the said
On behalf of ICICI Bank Ltd, Shop No. 3, Dada Manzil,
Name of the Holders Kind of Securities & No. of Share Certificates should lodge such claim(s) with the LAKSHMI ELECTRICAL Tender No. NAV-DB/2021/23-7855/1
Face Value
Distinctive Nos.
Securities
Mohammad Ali Road, Mumbai - 400 003 (SOL ID: 1219)
CONTROL SYSTEM LTD., at its Registered office at the address 504, Avinashi NAV-DB/2021/23-7855/2
FERNANDESJANE Equity Shares of 181281954 -181282203 250 Road, Peelanidu Post, Coimbatore Tamilnadu, Pin code: 641004, within 15 Dear Customer,
FERNANDES LYDIA IGNAT1A Rs. 10/- each We wish to inform you that w.e.f. February 28, 2021, we are Pre Bid Date & Time 22.01.2021 at 1100 Hrs
days of publication of this notice, after which no claim will be entertained and the
Name of holderfs) Company will proceed to issue Duplicate Share Certificates. relocating to a more spacious and convenient location. Bid submission start date/Time 07.01.2021 /0900 Hrs
Place: Mumbai, FERNANDES JANE Place: Mumbai Name of Shareholder The address is as mentioned below: Bid submission end date/Time 28.01.2021 /1800 Hrs
Date: 16/01/2021 FERNANDES LYDIA IGNATIA Date : 16/01/2021 JAYANTKUMAR KANTILAL SHAH New Branch Address: ICICI Bank Ltd., (SOLID: 1223)
Bid opening date/Time 29.01.2021 /1100 Hrs
Shop No. G-1, Prem Bhavan, 234-236, Narshi Natha Street,
Mumbai-400 009. For further details regarding tender documents, please visit our
website http://www.airindia.in.
There would be no change in your account numbers or the security

SONATA
items issued to you.
ICICIBank
SONATA SOFTWARE LIMITED
0 , (CIN NO.L72200MH1994PLC082110) Assuring you of the best services at all times.
ICICI Bank Limited Regd. Office: 208, T V Industrial Estate, 2nd Floor,
\ w m S K Ahire Marg, Worli, Mumbai - 400 030.
Sincerely,

NMDC Limited
Registered Office: ICICI Bank Tower, Near Chakli Circle, Old SONATA SOFTWARE Corporate Office: 1/4, APS Trust Building, Branch Manager
Padra Road, Vododara, Gujarat - 390 007 Bull Temple Road, N.R.Colony, Bengaluru - 560 004. Mohammad Ali Road Branch
Corporate Office: ICICI Bank Tower, Bandra Kurla Complex, Tel: +91 -80-67781999, Fax:+91-80-26610972,

1
(A Government of India Enterprise)
Website: www.sonata-software.com
Mumbai - 400 051 'Khanij Bhavan', 10-3-311/A, Castle Hills, Masab Tank, Hyderabad - 500 028.
Email Id: info6sonata-software.com
On behalf of ICICI Bank Ltd, Shop No. 1-2, Parmeshwar Dham, Telephone: 0091-40-23538710/770, 23538713 to 23538721 Ext: 138/270/228
7th Road, Rajawadi, Opp. Sanyas Ashram, Ghatkopar East, NOTICE BEFORE THE HON'BLE ARBITRATOR, APPOINTED BY Email: [email protected]; [email protected]; [email protected]
THE CENTRAL REGISTRAR, CO-OPERATIVE SOCIETIES UNDER CIN: L13100TG1958GOI001674
Mumbai - 400 077 (SOL ID: 1220) Pursuant t o Regulation 47(1)(a) of t h e SEBI (Listing
THE MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002
Obligations and Disclosure Requirements) Regulations, 2015, OPEN TENDER NOTICE
Dear Customer, ARBITRATION CASE NO. ARB/AMCO/02 OF 2020.
notice is hereby given that the Meeting of the Board of Online Tenders are invited through e-Procurement Mode for following Items from
(U/s 84 of the Multi-State Co-op Societies Act, 2002)
We refer to the notice published dated Dec 04, 2020. We are Directors of the Company will be held on Thursday, the reputed manufacturers directly or through their accredited agents in India, required
THE AHMEDABAD MERCANTILE CO-OP. BANK LTD.,
relocating to a more spacious and convenient location. for our NMDC Ltd projects.
4 t h day of February, 2021 t o consider and a p p r o v e , AMCO House, 126 Narayan Dhuru Street,
The address is as mentioned below: inter-alia, the un-audited financial results (Standalone and Nagdevi, Mumbai 400 003. DISPUTANT Qty Display & Sale of Last Date & Time
VIS Description of item (No.) Tender Documents for Submission
New Branch Address: ICICI Bank Ltd., (SOL ID: 1214) Consolidated) for t h e quarter and nine months ended
MIS. J. K. INTERNATIONAL & OTHERS OPPONENTS Period of offer
31st December, 2020.
Anirudha CHS, Shop No. 5,6,7 Building No. 27, Tilaknagar, MR. ATULKUMAR HIRALAL SHAH | Tender No. & Date : HQMM/2008-20/36A102,36A300 & 36AN159/374, Dt : 15-01-2021 |
Chembur, Mumbai -400 089. The Notice is also available on the Company's website [1] Flat No. 301, "B" Wing 3rd Floor,
Supply of various sizes of OTR Tubeless
Parle Saurabh Co-operative Housing Society Ltd. Shahji Raje Marg,
There would be no change in your account numbers or the security www.sonata-software.com and on the website of the stock Bias ply, Cut Resistant,Tyres with suitable As per
Vile Parle (E), Mumbai - 400 057. 16-01-2021 16-02-2021
exchanges where the Company's shares are listed viz.: 0 Rings as per Technical specifications Anne-
items issued to you. [2] Shop No. 7 , 1 Floor, to by 2.30 PM
www.bseindia.com and www.nseindia.com . mentioned in Annexure-III of tender xure
85/87 Jhaveri Bhuvan, Dhirubhai Parikh Marg, Old Hanuman Lane, 16-02-2021 (IST)
Sincerely, Kalbadevi Road, Mumbai- 400 002 RESPONDENT NO. 6 document required for Kirandul Complex, -V
Branch Manager Bacheli Complex and Donimalai.
For S O N A T A SOFTWARE LIMITED NOTICE
Rajawadi Branch You are hereby summoned to appear before me at C/O The Ahmedabad Mercantile
Co-Op. Bank Ltd., AMCO House, 126 Narayan Dhuru Street, Nagdevi, Mumbai- | Tender No. & Date : HQMM/2020-20/05B115/290, Dt : 15-01-2021
Mangal Kulkarni 400003 in person or by an advocate to answer all material questions relating to Recon Transmission Assembly under
Arbitration case No. ARB/AMCO/02 OF 2020 on 20 JANUARY, 2021 at 11AM and Recon Exchange basis suitable for BEML
Place : Bengaluru C o m p a n y Secretary, Compliance further to answer the claim in the Arbitration case in writing by filing reply and /or written 16-01-2021 16-02-2021
FORM G Make, BH-100S Model, 100 Ton capacity
Date : 15.01.2021 Officer a n d Head-Legal statements. 02 to by 2.30 PM
INVITATION FOR EXPRESSION OF INTEREST Dumpers as per specifications mentioned
(Under Regulation 36A (1) of the Insolvency and Bankruptcy TAKE NOTICE that inspite of the service of this Notice upon you, if you fail to remain 16-02-2021 (IST)
in Annexure-III of tender document
(Insolvency Resolution Process for Corporate Persons) Regulations, 2016 present before me either personally or through your authorised representative on the
day and time as mentioned hereinabove, the Arbitration case will be heard and required for Donimalai Complex.
Relevant Particulars determined, ex-parte against you.
1. Name of the corporate debtor B.Y.Agroand Infra United Complete Tender document is available in website www.nmdc.co.in under tender
Given under my hand and seal on this 11th day of DECEMBER, 2020
2. Date of Incornoration of Corporate Debtor section; www.mstcecommerce.com/eprochome; CPP Portal http://eprocure.gov.in
10.112008 Sd/- MUKESH H. RAVAL Arbitrator
Any corrigendum to the above tender will be uploaded only on our website
3. Authority under which Corporate Debtor is ROC Mumnai
incorporated / resistered www.nmdc.co.in and will not be published. Prospective bidders should visit the
4. Corporate identity number! limited liability U01403MH2008PLC188072 above NMDC Limited website from time to time to take note of corrigendum, if any.
identification number of corporate debtor
5. Address of the registered office and principal Registered Address and Manufacturing Facility:
Gundecha Onclave Premises For further details logon to Tender Section of our website : www.nmdc.co.in.

office (if any) of the Corporate Debtor Khasra No. 275 at Village Sindhivihiri, Tehsil Karanja,
(G) Sindhivihiri Wardha, Maharashtra - 442203
Co-op.Housing Society Ltd. Chief G e n e r a l M a n a g e r ( M a t e r i a l s )

6. Insolvencycommencementdate of the
Corporate Debtos
7. Date of invitation of expression of interest
26.05.2020
(Copy of the ordes received by IRP on 11.08.2S20)
-6.01.2021
CTS No. 97, 97/1 to 97/9 & CTS No. 99, 99/1 to 99/5 Situated at Saki Village,
Kherani Road, Andheri (E)Mumbai 400 072.
m
JHARKHAND BIJLI VITRAN NIGAM LIMITED
DEEMED CONVEYANCE PUBLIC NOTICE
8. Eligibility for resolution applicants under Can be sought by sending an email on Singhbhum Electric Supply Area, Jamshedpur, 1" floor Co-Op. Bank Building Bishtupur, Jamshedpur.
section 25(2)(h) ofthe Code is available at:
9. Norms of ineligibility applicable under
[email protected] Notice is hereby given that the above Society has applied to this office under Section 11 of Maharashtra
Ownership Flats (Regulation of the promotion of construction sale, management & Transfer) Act, 1963 for
e-mail- [email protected] Ph. No. 0657-2320495 (o).
E-TENDER NOTICE
Can be sought by sending an email on
section 29Aare available at: [email protected] declaration of Unilateral Deemed Conveyance of the following properties. The next hearing in this matter has
10. Last date for receipt of expression of Interest 01.02.2021 been kept before me o n 0 2 / 0 2 / 2 0 2 1 at 0 3 . 3 0 p.m. at the office of this authority.
E-TENDER NOTICE FOR SUPPLY OF TRW MATERIALS UNDER O & M HEAD
11. Date of issue of provisional list of
Srospective resolution anplicnnts
11.02.2021 R e s p o n d e n t s : - (1) G e n e r a l P i g m e n t s a n d C h e m i c a l p r o d u c t s pvt.ltd. at V i h a r L a k e R o a d , S a k i n a k a ,
M u m b a i 4 0 0 0 7 2 . 2) S m t . M a n g a l a S h i v d a s D i n d o k a r , a t 3 7 / A , Kailas C o t t a g e , S i o n (West) M u m b a i FOR FINANCIAL YEAR 2020-21
12. Last date for submission of objections to 16.02.2021 4 0 0 0 2 2 . 3) R i y a u d d i n M. Khot 4) Liyakatali M o h a m m a d a l i Khot 5) Z a k i y a M o h a m m a d a l i khot alias Online e-Tenders are invitedfromreputed and experienced Manufacturers having adequate manufacturing
nrovisonal list Z a k i y a Inayat Kazi 6) F a r i d a M o h a m m a d a l i khot alias F a r i d a Ismail K h a n all t h e a b o v e o p p e n e n t s 3 capability & best testing facilities and permanently registered with SSI/NSIC units OR Authorised
13. Date of issue of final list of prospective 26.02.2021 to 6 are h a v i n g t h e i r a d d r e s s at B - 2 , s h e r i e r B a u g , 5 th floor 7 7 , B a b l a T a n k R o a d , M u m b a i t h r o u g h C.
dealer/Financially Sound & reputed supplier firms authorised by such principle manufacturers having best
resolution applicantn
14. Date of issue of information memorandum, 16.02.2021
A . Mr. Francis J o s e p h T h e k e k a r a 7) Francis J o s e p h T h e k e k a r a h a v i n g his a d d r e s s at 6 1 / P r a n e e t 234,
testing facilities for supply of materials conforming to standard specification for supply ofunder mentioned
different types of TRW materials under O&M Head for thefinancialyear 2020-21.
J a y w a n t P a l k a r R o a d , W o r l i , M u m b a i 4 0 0 0 3 0 . 8) S h a h i d S h a u k a t S a r k a r h a v i n g his a d d r e s s at 601,
evaluation matrix and request for resolution S a r k a r heritage, K a n e R o a d , B a n d s t a n d , B a n n d r a (west) M u m b a i 4 0 0 0 5 0 . and those, whose interests
planstoprospective resolution applicants have been vested in the said property may submit their say at the time of hearing at the venue mentioned NIT NO. Serial Name Of Materials Unit Quantity
15. Manner of obtaining request for resolution below. Failure to submit any say shall be presumed that nobody has any objection in this regard and further
The Resolution professional will share the Request for
Resolution Plan, Evaluation Matrix and Information action will be taken accordingly.
No.
plan, evaluation matrix, information
memorandum and further information
Memorandum in electronic form after verification of KYC, 1 HT Bushing IS 3347 Nos. 2500
capacity to invest, capability to manage and eligibility under
section 29Aof IBC, 2016 ofthe prospective resolution applicant
DESCRIPTION OF THE PROPERTY: C T S No. 97, 97/1 t o 97/9 & C T S No. 99, 99/1 to 99/5 S i t u a t e d
2 LT Bushing 630 A Nos. 1150
and nrefqualification criteria, if any approved by the COC.
at S a k i Village, K h e r a n i Road, A n d h e r i ( E ) M u m b a i 4 0 0 072.
3 LT Bushing 250 A Nos. 5300
16. Last date fnr submission of resolution plans 18.D3.2021 Survey No. Hissa No. Plot No. C. T. S. No. Total Area 4 HT Brass stud 'A" Nos. 3200
17. Manner of submitting resolution plans to In electronic form to the email id mentioned against at CTS No. 97, 97/1 to 97/9 5538 Sq.Mtrs 5 LT Brass stud !4" Nos. 5300
resolution professional S. No. 21. An additional physical copy may also be -- -- -- & CTS No. 99, 99/1 to 6 LT Brass stud %" Nos. 1100
submitted in a sealed envelope containing duly signed
hard copy at the address mentioned against at S. No.
99/5 CSO Kurla 7 Bakebte Tube 3/8X1/2" Meter 6202
21soas to reach on or before the last date. Ref.No.MUM/DDR(2)/Notice/128/2021 Sd/- 8 BakeUte Tube 3/4X5/8" Meter 2900
18. Estimated date for submission of As soon as approved by the Place : K o n k a n B h a v a n , R o o m No. 201, ( P r a t a p Patil) 9 Press Board 1 mm KGS 1200
resolution plan to the Adjudicating members ofthe COC C . B . D . Belapur, C o m p e t e n t A u t h o r i t y & District Dy. Registrar, 10 Press Board 2 mm KGS 1450
Authority nor approval
Name: Jagdish Kumar
Navi M u m b a i - 4 0 0 6 1 4 . (Sea) C o . op. S o c i e t i e s (2), 11 Press Board 3 mm KGS 2250
19. Name and registration number of the
sesolntion professional Registrstion No.: IBBI/IPA-001/IP-P00671/2017-18/11143
Date: 14.01.2021 East Suburban, Navi Mumbai.
12 Kraft paper 214 mil KGS 1520
Name: Jagdish Kumar 13 Kraft paper 4 mil KGS 2000
20. Name, Address and e-email ofthe
Address: B56, WallfortCity, Bhatagaon, Ring 14 Pressphan paper 10 mil KGS 430
resolution professional, as registered
with the Board RoadNo.1, Raipur, Chhatfisgarh-492001 Eden IV Co-op.Housing Society Ltd. 15 Crape paper 1/2 mil KGS 400
Email Id: [email protected],
CTS No. 13, 24 & 25, Adi Shankarachary Marg, Powai Eden IV Building, 16 Insulating paper tape 2.5 mil 20 mm KGS 190
[email protected]
Hiranandani Garden, Mumbai 400076. 17 Insulating paper tape 2.5 mil 25 mm KGS 1150
21. Address and email to be used for corresAddress: B56, Wallfort City, Bhatagaon, Ring
Road No.1, Raipur, Chhattisgarh-492001
18 Varnish sleeving 3mm MTS 2400
pondence with the resolution professional
Email Id: [email protected]
DEEMED CONVEYANCE PUBLIC NOTICE 19 Varnish sleeving 4mm MTS 2950 3,00,000/- 11,800/-
22. Further Details are available at or with Can be sought by sending an email on Notice is hereby given that the above Society has applied to this office under Section 11 of 20 Varnish sleeving 6mm MTS 2450
[email protected]
Maharashtra Ownership Flats (Regulation of the promotion of construction sale, management & 21 Al. In line Connector 6 sq mm NOS 1700
23. Date of publication of Form G 16.01.2021 Transfer) Act, 1963 for declaration of Unilateral Deemed Conveyance of the following properties. 22 Al. In line Connector 10 sq mm NOS 1300
Note: The EOI already received in pursuanttothe Form G published on 16.12.2020 shall remain endorsed The next hearing in this matter has been kept before me on 09/02/2021 at 03.30 p.m. at the 23 Al. In line Connector 16 sq nun NOS 700
after the re-publication oftSe Form-G as well. office of this authority. 24 Al. Neutral clamp NOS 1450
Date: 16.01.2021 Jagdish Kumar Respondents:- (1) Hiranandani constructions Pvt ltd. 514 Dalmal Towers, 211 Free Press 25 Al. Clamping Member NOS 4351
Place R a i p u r
" Resolution Professional in the matter of B.Y. Agro and Infra Limited Journal Marg, Nariman Point, Mumbai 400021.2) (I) Lajpatriai Varma (II) Ramniklal L. Dharia 26 Braided Tinned Copper strips (BTC) NOS 1300
Registration No.: IBBI/IPA-001/IP-P00671/2017-18/11143 (III) Kirtanlal M. Dharia (IV) All having their address at 514 Dalmal Towers 211 free Pres 27 MS Nuts & Bolts 114"x3/8 " KGS 400
Journal Marg, Nariman Point Mumbai 400021. 3) Lajpatrai Dharia 4) Niranjan Hiranandani 28 MS Nuts & Bolts 114" xl/2" KGS 350
5) Surendra Hiranandani 6) K. B. Dharia 7) R. L. Kadakia 8) Viren shah and others 12 9) 29 MS Nuts & Bolts 2'A" x 5/8 " KGS 380
Lajpatrai Dharia 10) N.Lajpatrai Dharia &company 11) H. C. Sharma and others 4 The 30 MS Nuts & Bolts 2 / "x 3/8 "
1
2 KGS 390
address of numbers 3 to 11 is 514, Dalmal Towers, 211, Free Press General Marg, Nariman 31 Silicagel Breather 200 KVA NOS 430
FORM G Point, Mumbai 400021. and those, whose interests have been vested in the said property may 32 Silicagel Breather 100 KVA NOS 580
INVITATION FOR EXPRESSION OF INTEREST submit their say at the time of hearing at the venue mentioned below. Failure to submit any say 89/PR/JBV 33 Silicagel Breather 63 KVA NOS 530
Under Regulation 34A (1) of the Insolvency and Bankruptcy shall be presumed that nobody has any objection in this regard and further action will be taken NL/2020- 34 Silicagel Breather 25 KVA NOS 316
(Insolvency Resolution Process for Corporate Persons) Regulations, 2016 accordingly. 21 35 HT Bushing clamp 4/6 hole NOS 2250
RELEVANT PARTICULARS DESCRIPTION OF THE PROPERTY: CTS No. 13, 24 & 25, Adi Shankarachary Marg, 36 MS Washer 1/2 mm KGS 150
1. NAME OF 1HE CORPORATE DEBTORM/S INDEPENDENT I V LIMITED Powai Eden IV Building, Hiranandani Garden, Mumbai 400076. 37 MS Washer 3/8 mm KGS 130
2. Dale of incorporation of Corporate Debtor 13.05.2005 Survey No. Hissa No. Plot No. C. T. S. No. Total Area 38 MS Washer 5/8 mm KGS 150
3. Authority under which corporate debtor RoC-Mumbai
-- -- -- CTS No. 13 (pt) 24 (pt) 25 10,660.15 Sq.Mtrs 39 MS Plug diff. sizes NOS 2020
is incorporated / registered
(pt) CSO Mulund 40 CI Cap diff. sizes NOS 1300
4. Corporate identity number/limited liability U45203MH2005PLC153294
identification number of corporate debtor
41 Rubberised Cork Washer 109x78x5
Ref.No.MUM/DDR(2)/Notice/127/2021 Sd/- mm NOS 6350
5. Address of the registered office & principalH-Block, 1st Floor, Dhirubhai Ambani Place : Konkan Bhavan, Room No. 201 (Pratap Patil)
office (if any) of corporate debtor Knowledge City, Navi Mumbai MH- 400710
C.B.D. Belapur, Competent Authority & District Dy. Registrar,
42 Rubberised Cork Washer 89x57x5 mm NOS 5702
6. Insolvency commencement date of the 26.02.2020 Navi Mumbai-400614. Co. op. Societies (2),
43 Rubberised Cork Washer 70x45x5 mm NOS 5800
corporate debtor (Seal) 44 Rubberised Cork Washer 70x45x2 mm NOS 5300
Date: 14.01.2021 East Suburban, Navi Mumbai.
7. Date of invitation of expression of interest 16.01.2021 (Subject to extension of time 45 Rubberised Cork Washer 50x28x5 mm NOS 8252
granted by the Adjudicating Authority) 46 Rubberised Cork Washer 50x28x2 mm NOS 5752
8. Eligibilityforresolution applicants under The information can be obtained by visiting 47 Rubberised Cork Washer 45x28x5 mm NOS 1950
section 25(2)(h) of the Code is available at:the website: www.independenttv.info
MUTUAL 48 Rubberised Cork Washer 32x14x5 mm NOS 4300
9. Norms of ineligibility applicable under The information can be obtained by visiting
49 Rubberised Cork strip 40x5 mm MTS 4350
section 29Aare available at: the website: www.independenttv.info
10. Last date forreceiptof expression of interest 31.01.2021 (Subject to extension of time
tssel FUND 50 Rubberised Cork strip 50x5 mm MTS 2300
granted by the Adjudicating Authority) ESSEL FINANCE AMC LIMITED 51 Rubberised Cork sheet 3'X2'X6' mm Sheet 50
11. Date of issue of provisional list of 10.02.2021 (Subject to extension of time R e g i s t e r e d Office: Peerless Mansion, 1, Chowringhee Square, Kolkata-700069
52 Nylon Washer 38x18x20mm NOS 9704
prospective resolution applicants granted by the Adjudicating Authority)
Tel: 0 3 3 4 0 1 8 5 0 0 0 ; Fax: 0 3 3 4 0 1 8 5 0 1 0 ; Toll f r e e no.: 1800 103 8 9 9 9 ,
53 Nylon Washer 30x18x12 mm NOS 4800
12. Last date for submission of objections to 15.02.2021 (Subject to extension of time
W e b s i t e : httDs://mutualfund.esselfinance.com. Email: mutualfundtSesselfinance.com
54 Nylon Washer 22x11x12 mm NOS 6702
provisional list granted by the Adjudicating Authority)
CIN: U65990WB2009PLC134537
55 Cotton Tape 1" ROLLS 2200
13. Date of issue of final list of prospective 25.02.2021 (Subject to extension of time
resolution applicants granted by the Adjudicating Authority)
56 Weaving cotton tape 1!4" ROLLS 1350
14. Date of issue of information memorandum, 02.03.2021 (Subject to extension of time
NOTICE CUM ADDENDUM (No. 25 of 2020-2021) 57 DA Grey Paint LTS 530
evaluation matrix and request for resolution granted by the Adjudicating Authority) Notice is hereby given that: 58 White Paints LTS 145
plansteprospective resolution applicants
A. Mr. Kamlesh Dixit, Co-Sales H e a d (North & East Division) has been redesignated as National Sales
59 Red Oxide Paints LTS 1050
15. Manner of obtaining request for resolution The prospective resolution applications am requested to 60 G.P Thinner LTS 410
plan, evaluation matrix, information
memorandum and further information
send an email to [email protected] Head (Interim) w.e.f. January 13, 2 0 2 1 .
61 Fevicol KGS 680
IM/RFRP and EM shall be provided via email/data room
after execution of confidentiality undertaking.
B. Investors / unit holders are advised to take note of the following changes m a d e to the address of Pune 62 M-Seal KGS 183
16. Last dateforsubmission of resolution plans01.04.2021 (Subject to extension of time
branch of Essel Finance A M C Limited ("the A M C " ) w.e.f. January 18, 2021: 63 Cotton Waste KGS 2150
granted by the Adjudicating Authority) 64 Markin Cloths MTS 430
17. Manner of submitting resolution In electronic Form to the Email ID mention
Location Old Address New Address 65 Emery Paper NOS 1820
plans to resolution professional against serial no. 21 Pune Essel Finance AMC Ltd. Essel Finance AMC Ltd. 66 Caustic Soda KGS 335
18. Estimated dateforsubmission of resolutionAs soon as approved by CoC
(Official Point Aurora Towers, 9 Moledina Road, T h e Work Lab, Availability of tender document on website 15.01.21 at 10:00 a.m.
plan to the Adjudicating Authorityforapproval
of Acceptance) W e s t Wing, First Floor, C a m p , S.No.318/19, H.No.934/935/4,
Last date and time for uploading of E-Tender 8.02.21 up to 05:00 p.m.
19. Name and registration number of the
resolution professional
Anup Kumar
Reg. No.: IBBI/IPA002/IP-N00333/2017-18/10911 P u n e - 4 1 1 001.
Last date and time for physical submission of original Demand 8.02.21 up to 05:00 p.m.
20. Name, Address & e-mail of the resolution Anup Kumar
Dhyaneshwar Paduka Chowk,
Draft towards cost of BOQ and Earnest Money
professional, as registered with the Board 734, Lawyers Chamber Block, Western
Opp. Deccan Education Society
Date and time for opening of Techno commercial part. 09.02.21 at 05:00 p.m.
Wing, Tis Hazari Court, Delhi-110054 Shivajinagar, F C Road, Pune - 411 016. Date and time for opening of tender Part-II (Price Part) To be Further communicated
Email: [email protected]
This notice-cum-addendum forms an integral part of the S I D and KIM of the schemes of Essel Mutual Fund Tendering Officer and address for communication Electric Supply Area, Jamshedpur
21. Address and email to be used for 734, Lawyers Chamber Block, Western Wing, Tis
and SAI of Essel Mutual Fund.
Bid Processing Fees Rs. 11,800/-
correspondence with the resolution Hazari Court, Delhi-110054. Mob.: 8929015290
professional Email: [email protected]
All other terms and conditions of the S I D and KIM of the schemes of the Essel Mutual Fund and SAI of the
EMD Rs. 3,00,000/-
22. Further Details are available at or with Further, information can be sought from the
Essel Mutual Fund shall remain unchanged. Offer Validity (Days) 180 days from last date of Bid Opening.
Resolution Professional atfollowingE-mail ID:
[email protected] For Essel Finance AMC Limited 1. E-Tender document and BOQ including terms & condition, specification etc. can he
Mob.: 8929015290 downloaded and submitted online on website https://jharkhandtenders.gov.in. any details required in this
23. Date of publication of Form G 16.01.2021
(Investment Manager to Essel Mutual Fund)
regard can also be had from the office of the undersigned during office hours. NIC Help line no -06034-
Notes: L The RP/COC shall have discretion to change the criteria for the EOI at any point oftime.2, RP/COC P l a c e : Mumbai Sd/-
222109 for any clarification regarding NIT Contact-9431135902.
reserves therightto cancel or modify the process/application without assigning any reason and without any liability Date : January 15, 2021 Authorized Signatory 2. Demand Draftfromany nationalized bank of India towards cost of BOQ and earnest money
whatsoever. 3.TheabovetimelinesaresubjecttotheapprovalofNCLTforextensionoftimeunderSection12ofthe
will be in favour of" Singhbhum Area, NON-RE " Payable at Jamshedpur.
lnsolvencyandBankruptcyCode,2016. Anup Kumar
Resolution Professional, M/s. Independent TV Limited MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, 3. The tenders will be received through electronic tendering mode only. sd/-
Date: 16.01.2021 Regn. No.: IBBI/IPA-002/IP-N00333/2017-18/10911 •wfijcl q a vi^lBrl *f Bwlf I f W anpft Rimddt 4ft pr 239367 J h a r k h a n d Biilee GM-cum-ChiefEngineer
vfo 1800 345 6570 uv ^ t f qsviji | ESA, Jamshedpur
Place: Delhi Email: [email protected]
READ ALL SCHEME RELATED DOCUMENTS CAREFULLY. ^fgt Vitran N i g a m Ltd(20-21)D

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 Weekend Business Standard MUMBAI | 16 JANUARY 2021 17

KOTAK MAHINDRA BANK LIMITED

©kotak Registered office : 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai-400 051
Corporate Office : Kotak Infinity, Zone-II, 4th Floor, Bldg. No. 21, Infinity Park, Off. W. E. Highway, Goregaon, Mumbai-400 097.
Branch / Regional Office : Admas Plaza 4th Floor, 166/16, CST Road, Kolivery Village Kunchi Kurve Nagar,
Near Hotel Hare Krishna, Santacurz (East), Mumbai-400098
E-AUCTION C U M PUBLIC NOTICE FOR SALE OF IMMOVABLE PROPERTIES
(Under Rule 8 ( 6 ) of the Security Interest ( E n f o r c e m e n t ) Rules 2 0 0 2 ) Stocks and Securities 1 W W 1 ADITYA BIRLA
Notice is hereby given to the public in general and in particular to the Borrower(s) and Guarantor(s) that the below described immovable properties
mortgaged / charged to the Secured Creditor, the Possession of which has been taken by the Authorised Officer of Kotak Mahindra Bank Limited
(KMBL) / Secured Creditor, will be sold on "As Is Where Is", "As Is What Is" and "Whatever There Is" basis on the date mentioned herein below, Aditya Birla Money Ltd. L t u J CAPITAL
for recovery of the dues mentioned herein below and further interest and other expenses thereon till the date of realisation, due t o Kotak Mahindra
Bank Limited (KMBL) / Secured Creditor from the Borrower and Guarantor(s) mentioned herein belowunder the Securitisation and Reconstruction of (A s u b s i d i a r y of A d i t y a Birla C a p i t a l L t d . )
Financial Assets and Enforcement of Security Interest Act, 2 0 0 2 , offers are invited t o s u b m i t online through the Web Portal of our Sales & Marketing PROTECTING INVESTING FINANCING ADVISING
and e-Auction Service Partner, M/s. NexXen Solutions Private Limited (NexXen) i. e. https://DisposalHub.com by the undersigned for sale of the
immovable property of which particulars are given below:

Name of Borrowers / Co-Borrowers / Date & Amount of Date of

Description of Property
Guarantors / Mortgagers 13(2) Demand Notice Possession Regd. Office: Indian Rayon Compound, V e r a v a l - 3 6 2 2 6 6 , Gujarat; CIN: L 6 5 9 9 3 G J 1 9 9 5 P L C 0 6 4 8 1 0 ; Email: a b m l . i n v e s t o r g r i e v a n c e @ a d i t y a b i r l a c a p i t a l . c o m ;
LAN : LAP17923109 & 17953566 Branch : M u m b a i Demand Notice Dated W e b s i t e : w w w . s t o c k s a n d s e c u r i t i e s . a d i t y a b i r l a c a p i t a l . c o m ; Tel.: + 9 1 - 4 4 - 4 9 4 9 0 0 0 0 ; Fax.: + 9 1 - 4 4 - 2 2 5 0 1 0 9 5
All that part and parcel of Mortgaged
1. Rasiklal Sankalchand Jewellers Pvt. Ltd. (Borrower) : 30.12.2019
Property
2. Vatsal Jayesh Shah (Co-Borrower) t 9,05,86,153.16 (Rs.
Flat No. 402, I wing, 4 th Floor,
3. Jayesh Rasiklal Shah (Co-Borrower) Nine Crore Fifty Eight 14.08.2020
Kukreja Palace, Vallabh Baug Lane,
4. Neeta N. Shah (Co-Borrower) 5. Paru J. Shah (Co-Borrower) Lakh Six Thousand One
Garodia Nagar, Ghatkopar East,
6. Nilesh. Rasiklal Shah (Co-Borrower) Hundred and Fifty Three
M u m b a i - 4 0 0 077.
7. Zenil Jayesh Shah (Co-Borrower) & Sixteen Paise Only)
S t a t e m e n t of Unaudited Financial Results for t h e Quarter and Nine M o n t h s Ended D e c e m b e r 3 1 , 2 0 2 0
Reserve Price EMD (Earnest Money Deposit)
(Rupees in Lakhs) Except per share data
t 10,40,00,000/- (Rs. Ten Crore Forty Lakh Only) 11,04,00,000/- (Rs. One Crore Four Lakh only)
Bid Increase Amount Date & Time of e-Auction Quarter Ended Nine Months Ended Year Ended
t 1,00,000/- 25th February, 2021 Time : 10.30 A. M. to 1.00 P M.
Sr December December December December March
TERMS AND CONDITIONS OF E- AUCTION : Particulars
(I) The Auction is conducted as per the further Terms and Conditions of the Bid d o c u m e n t and as per the procedure set out therein. Bidders No. 31, 2020 31, 2019 31, 2 0 2 0 31, 2019 31, 2020
may go through the website of our Sales & Marketing and e-Auction Service Provider, NexXen Solutions Private Limited (NexXen) i.e.
https://DisposalHub.com/KOTAKfor bid documents, the details of the secured asset put up for e-Auction and the Bid Form which will be submitted (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
online; (2) All the intending purchasers / bidders are required to register their name in the Web Portal mentioned above as https://DisposalHub.
c o m and generate their User ID and Password in free of c o s t of their o w n to participate in the e-Auction on the date and time aforesaid; (3) For any
enquiry, information, support, procedure and online training on e-Auction, the prospective bidders may contact the Client Service Delivery (CSD) 1 Total Income from Operations 4,879.46 3,837.36 14,159.84 12,212.20 16,666.21
Department of our Sales & Marketing and e-Auction Service Partner M/s. NexXen Solutions Private Limited, through Tel. No.: +91 124 4233933,
2 Net Profit/(Loss) for the period (before tax, 598.25 365.42 1,713.51 1,286.90 1,650.15
Mobile No.: +91 8130249933&E-mail ID: [email protected]; (4) To the best of knowledge and information of the Authorised officer, there is
no encumbrance in the property/ies. However, the intending bidders may inspect the property and its d o c u m e n t s from 11:00 A. M. t o 0 1 : 0 0 P M. Exceptional a n d / o r Extraordinary items)
on 0 1 . 0 2 . 2 0 2 1 or any other date & time with prior appointment and they should make their own independent inquiries regarding the encumbrance,
3 N e t Profit/(Loss) for the period before Tax 598.25 365.42 1,713.51 1,286.90 1,650.15
title of property/ies put on e-Auction and claims / right / dues / affecting the property prior to submitting their bid. The e-Auction advertisement does
not constitute any c o m m i t m e n t or any representation of KMBL. The property is being sold with all the existing and future encumbrances whether (after Exceptional a n d / o r Extraordinary items)
known or unknown to KMBL. The Authorised officer / Secured Creditor shall not be responsible in any w a y for any third party claims / rights / dues;
(5) For participating in the e-Auction, intending purchasers / bidders will have to s u b m i t / uploadin the Web Portal (https://DisposalHub.com/KOTAK) 4 Net Profit/(Loss) for t h e period after Tax 420.46 278.52 1,209.81 919.04 1,198.65
the details of payment of interest-free refundable Earnest Money Deposit (EMD) of the secured asset as mentioned aboveby w a y of Demand Draft in (after Exceptional a n d / o r Extraordinary items)
favour of 'Kotak Mahindra BankLimited' or by w a y of RTGS/ NEFT to the a c c o u n t details mentioned as follows : Bank Name : KOTAK MAHINDRA
BANK LTD. Branch : Nariman point, Mumbai, Bank Account No.: 06410125272001.,IFSC Code: KKBK0000958 along with self-attested copies 5 Total Comprehensive Income for the period 427.03 276.70 1,256.18 906.53 1,106.26
of the PAN Card, Aadhaar Card, Residence Address Proof, Board Resolutions in case of c o m p a n y and Address Proof on or before 04:00 P M. of [Comprising Profit/(Loss) for the period (after tax)
24th February, 2021; (6) The Property will not be sold below the Reserve Price. The Successful Purchaser / Bidder shall have to deposit the 25%
and Other Comprehensive Income (after tax)]
(inclusive of EMD) of his /her/ its offer by w a y of RTGS/ NEFT to the a c c o u n t mentioned herein above within 2 4 : 0 0 hours f r o m the completion of
e-Auction, failing which the sale will be deemed have been failed and the EMD of the said Successful Bidder shall be forfeited; (7) The EMD of all 563.01 563.01 563.01 563.01 563.01
6 Paid-up Equity Share Capital
other bidders w h o did not succeed in the e-Auction will be refunded by KMBL within 7 2 working hours of the closure of the e-Auction. The EMD will
not carry any interest; (8) The balance a m o u n t of purchase consideration shall be payable by the Successful Purchaser / Bidder on or before the (Face Value o f R e . 1 / - each)
fifteenth (15 th ) day f r o m the date of 'Confirmation of Sale' of the said secured asset by the Authorised Officer / Secured Creditor or such extended
7 Reserves (excluding Revaluation Reserve) - - - - 2,564.34
period as may be agreed upon in writing by the Authorised Officer at his / her discretion. In case of default, all amounts deposited till then shall be
liable t o be forfeited; (9) For inspection of property or more information, the prospective bidders may contact Mr. Mritunjaysingh (Mobile No. +91 8 E a r n i n g s Per E q u i t y S h a r e ( o f R e . 1 / - each)
8130249933) the Local Representative of our Sales & Marketing and e-Auction Service Provider, M/s. NexXen Solutions Private Limited as well as
(a) B a s i c 0.75 0.49 2.15 1.63 2.13
the Authorised Officer, Mr. Bhola Kumar (Mobile No.: +91 9833602510, E-mail ID : [email protected]) and Mr. Chirag Lokhande (Mobile
No. 9773758208 Email ID:[email protected]) A t any stage of the e-Auction, the Authorised Officer may accept / reject / m o d i f y / (b) D i l u t e d 0.75 0.49 2.15 1.63 2.13
cancel the bid / offer or postpone the e-Auction without assigning any reason thereof and without any prior notice. In case any bid is rejected,
Authorised Officer can negotiate with any of the rendered or intending bidders or other parties for sale of property by Private Treaty; (10) Sale is
subject to the confirmation by the Authorised Officer. The Successful Purchaser / Bidder shall bear any statutory dues, taxes, fees payable, stamp (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Annualised)
duty, registration fees, etc. that is required to be paid in order to get the property conveyed / delivered in his / her / its favour as per the applicable law;
( I I ) TDS to be Deducted as per the Provisions of Income Tax A c t 1962 i.e. 1% of Sale Amount. (12) The Borrower(s) / Mortgager(s) / Guarantor(s),
Notes:
w h o are given STATUTORY 3 0 DAYS UNDER RULE 6(2), 8(6) & 9 (1) OF THE SARFAESI ACT to discharge the liability in full and pay the dues as
mentioned above along with upto date interest and expenses within thirty (30) days f r o m the date of this notice failing which the Secured Asset will
be sold as per the terms and conditions mentioned above. In case there is any discrepancy between the publications of sale notice in English and 1. T h e a b o v e r e s u l t s h a v e b e e n r e v i e w e d by t h e A u d i t C o m m i t t e e a n d a p p r o v e d by t h e B o a r d o f D i r e c t o r s a t its M e e t i n g h e l d o n J a n u a r y 1 5 , 2 0 2 1 . T h e U n a u d i t e d
Vernacular newspaper, then in such case the English newspaper will supersede the vernacular newspaper and it shall be considered as the final F i n a n c i a l R e s u l t s o f t h e C o m p a n y f o r t h e Q u a r t e r a n d N i n e M o n t h s e n d e d D e c e m b e r 3 1 , 2 0 2 0 h a v e b e e n s u b j e c t e d t o L i m i t e d R e v i e w by t h e A u d i t o r s .
copy, thus removing the ambiguity. If the borrower(s) / guarantor(s) / mortgager(s) pays the a m o u n t due to the Secured Creditor, in full before the
date of sale, auction is liable to be stopped. The secured creditor is going to issue the sale notice to all the Borrowers / Guarantors / Mortgagors by 2 . T h e a b o v e is a n e x t r a c t o f t h e d e t a i l e d f o r m a t o f U n a u d i t e d F i n a n c i a l R e s u l t s filed w i t h t h e S t o c k E x c h a n g e s u n d e r R e g u l a t i o n 3 3 o f t h e SEBI ( L i s t i n g O b l i g a t i o n s
speed / registered post. In case the same is not received by any of the parties, then this publication of sale notice may be treated as a substituted a n d D i s c l o s u r e R e q u i r e m e n t s ) R e g u l a t i o n s , 2 0 1 5 . T h e f u l l f o r m a t o f t h e U n a u d i t e d F i n a n c i a l R e s u l t s is a v a i l a b l e o n t h e S t o c k E x c h a n g e w e b s i t e s , w w w . n s e i n d i a . c o m
mode of service; (13) The sale shall be subject to rules/conditions prescribed under the Securitisation and Reconstruction of Financial Assets and
and www.bseindia.com and on the Company's website www.stocksandsecurities.adityabirlacapital.com.
Enforcement of Security Interest Act, 2 0 0 2 , as amended f r o m time to time; it shall solely be the responsibility of the Successful Bidder / Purchaser
to get the sale registered. All expenses relating to stamp duty, registration charges, transfer charges and any other expenses and charges in respect
By O r d e r of t h e B o a r d
of the registration of the sale for the above referred property shall be borne by the Successful Bidder / Purchaser. The sale has to be registered at
the earliest else the purchaser has to give the request letter to KMBL mentioning the reason of delaying the registration; (14) No person other than For A d i t y a Birla M o n e y L i m i t e d
the intending bidder / offerer themselves, or their duly authorised representative shall be allowed to participate in the e-Auction / sale proceedings.
Such Authorisation Letter is required to submit along with the Bid Documents; (15) Special Instruction : e-Auction shall be conducted by our Tushar Shah
Service Provider, M/s. NexXen Solutions Private Limited (NexXen) on behalf of Kotak Mahindra Bank Limited (KMBL), on pre-specified date, while
the bidders shall be quoting f r o m their o w n home / offices / place of their Bid as per their choice above the Reserve Price. Internet connectivity and Place : M u m b a i Director
other paraphernalia requirements shall have to be ensured by bidders themselves. Please note that failure of Internet connectivity (due to any reason Date : January 1 5 , 2 0 2 1 DIN: 0 0 2 3 9 7 6 2
whatsoever it may be) shall be sole responsibility of bidders and neither KMBL nor NexXen shall be responsible for these unforeseen circumstances.
In order to ward-off such contingent situation, bidders are requested to make all the necessary arrangements / alternatives whatever required so that
they are able to circumvent such situation and still be able to participate in the e-Auction successfully. However, it is requested to the Bidder(s) not
to wait till the last m o m e n t to quote / improve his / her Bid to avoid any such complex situations.
Date : M u m b a i Sd/- Authorized Officer
Place : 16.01.2021 For Kotak Mahindra Bank Limited

Original Uploaded fast update byhttps://t.me/English_Newspeper_L_Banna_sa

 18
.
MUMBAI | 16 JANUARY 2021
<

> BOOK REVIEW N N N Chand, Mr. & Mrs. 55, C.I.D., Saheb Bibi felt that he had married Geeta for her the other hand, the paucity of affec-
Aur Ghulam — is well-known. What money, and this insinuation was tion he grew up with cannot be used

Guru Dutt, in
Usman brings to this book is a fine deeply humiliating for him. He, in to justify the fact that he was violent
understanding of the overlaps betw- turn, began to restrict her from singing towards his wife. Readers who expect
een Dutt’s personal and professional for films other than his own. She beca- Usman to chastise Dutt, or portray
life. His respect for me suspicious his wife as a victim, might be disap-

sharp focus
Dutt’s work does GURU DUTT: and possessive. pointed with this book.
not make him shy AN UNFINISHED He began to find But readers with a history of domes-
away from addres- STORY her boring. She tic violence and suicidal ideation might
sing the rift Author: felt lonely and want to consult their therapist before
Yasser Usman
A seasoned biographer of Bollywood stars between the actor-
filmmaker and his Publisher:
unwanted. He
disliked her drin-
reading this book because some of the
descriptions here can be triggering.
offers a fine account of the overlap between wife, Geeta, who
was a singer.
Simon &
Schuster India
king and partying
with friends.
With minor exceptions, the writing is
effortless and evocative, whether
the actor’s personal and professional life Without resorting Price: ~599 What is note- Usman is describing a film set, a haunt-
to gossip, he analy- worthy about ed house, or a long drive on a rainy day.
CHINTAN GIRISH MODI Indian cinematic history can boast of. ses what hurt their Pages: 336 this book is the He is in control of his craft, and that is
Guru Dutt: An Unfinished Story is a relationship and fact that Usman why the perfect accompaniment to this

Y
asser Usman holds the rare dis- moving account of a creative genius the toll it took on their careers. resists the temptation to take sides. book is a playlist of songs from Dutt’s
tinction of writing four film who was influenced by Hollywood Usman’s strength as a biographer He brings in perspectives from vari- films. They promise to take the reader
biographies. After producing melodrama, German expressionism, lies in unpeeling the layers of their ous people who were contemporaries on a journey that is both melancholic
books on Rajesh Khanna, Rekha and Bhakti poetry, and the Bauls of Bengal. complex universe as fellow artistes and of the couple. On the one hand, Dutt’s and oddly soothing.
Sanjay Dutt, he has now turned his Dutt’s filmography — which life partners. The husband’s emotion- alcoholism and poor communication
attention to actor-filmmaker Guru includes masterpieces such as Pyaasa, al distance and the wife’s jealousy were skills can be traced back to the unhap- Interview with the author on
Dutt — one of the finest talents that Kaagaz Ke Phool, Chaudhvin Ka not the only forces at play. His in-laws py marriage between his parents. On www.business-standard.com

COFFEE WITH BS > ATUL GAWANDE | MEMBER, JOE BIDEN'S COVID ADVISORY BOARD problem,” says the 55-year-old. Alongside,
he busied himself with more vexing or
is already on the right journey, one he
describes as largely “political”, with

Sight set sky-high

fund a college in India — the fundamental school and instead took a job for a while ambitious assignments: How to control the Rashtriya Swasthya Bima Yojana and now
values of community engagement and as a legislative aide to a Congressman burgeoning healthcare costs; setting up a Ayushman Bharat, and has come a long
service were ingrained in his fabric early. in Washington. new research institution at Harvard. way, both in terms of the quality and access
From the warm glow in his eyes, I can Eventually, at 25, he joined A famous New Yorkerpiece, where he (the latter he’s witnessed closely with his
glean that he had a happier childhood medical school but had compared healthcare costs in two own family in Yavatmal, Maharashtra). So
Reforming America’s coffee, and I'm in Dehradun — on
December 18, a day after the United States
than most immigrants, bereft of
the stereotypical anxieties on
completed just a year
when he was asked to
American towns, got the attention of
Barack Obama, then president, and was
if a few rich Indians want to pay more for
private facilities, they can go ahead and do
broken healthcare recorded a spike in new cases and deaths roots or identity. head healthcare policy identified as theproblem the country so as long as the public commitment to
in the country crossed 300,000. The At college in Stanford, reforms as part of Bill needed to fix. fund those who cannot afford it — the
system is the next possibility of a vaccine rollout to tame this Gawande got his first taste of Clinton’s presidential The way he sees the problem is that working class — remains intact. “As India
mountain Gawande demon seemed like the only glimmer of
hope in a very dark tunnel.
the sheer breadth of choices
on offer, and possibly
campaign — an
opportunity that
every country in the world is navigating
the reality of a century in which the
develops and gets richer, the willingness to
fund this — at the national or state level —
is keen to scale, writes In the small Republican university
town with startlingly low median income
childhood influences led
him to volunteer with
catapulted him into
a heady mix of White
lifespan of human beings
doubles. “If you have access
remains crucial,” he argues.
This “working class”
Anjuli Bhargava where Gawande grew up, his was one of Senator Gary Hart’s House politics and to regular, affordable care A famous New approach has not been
perhaps five Indian families. While he and presidential campaign, power. He subsequently and treatment from a team Yorker piece, where guaranteed in the US. His
Gawande compared

I
t was a not-so-small matter of a his sister faced no outright racism, they opening his eyes to the highs joined the Clinton adm- that knows you, you can mission is to set right the
smallpox vaccine that altered the remained oddities in a fairly conservative and lows of political fortunes. inistration as senior advisor live on average more than healthcare costs in wrongs of the American
course of Atul Gawande’s life. The rural county unused to outsiders of any After earning the Rhodes to the secretary of health. 80 years,” he points out. two American healthcare system.
trajectory of the Indian-origin America- kind, let alone affluent Indian immigrants. scholarship that took him to Oxford When the reforms failed to The problem is that we towns, got the Obamacare, he says, has
born surgeon, author and public health Although expectations from the siblings for a PPE (philosophy, politics and take off as envisaged, it dawned have not — neither rich nor attention of Barack already provided a good
researcher, who was recently appointed to were high, the path paved by his parents economics) degree in the on him that it would be a poor countries — figured Obama, and was starting point.
US President-elect Joe Biden’s Covid-19 and their preoccupation with “giving back” mid-1980s, he quickly while before the out how to enable that identified as the As we reach the end of our
advisory board, would have been radically at all times made his life easier. His parents realised that while reforms he was equally for all. problem the US conversation, we invariably
different had it not been for a severe both became presidents of the local public engagement was passionate about would He says he is fascinated needed to fix return to the reality staring us
reaction to the initial smallpox vaccine he Rotaries, worked on a visit President all very well, he had stage a comeback — he by the example of South all in the face. Since the
had as an infant in 1965 in New York. Jimmy Carter made to their county and little to contribute by didn’t think it would be Korea that made a public commitment in pandemic tightened its grip, human beings
That sealed the fate of his parents who, were deeply engaged in public service, way of “original” as long as 19 years! So the 1970s, when it was far poorer than it is have yo-yoed between hope and despair.
instead of returning to Nagpur in while retaining their culture, traditions thinking to political from running Roosevelt today, to universal coverage, a tax-based Isn’t it that much harder for someone who
Maharashtra, moved to Athens, Ohio with and building a warm circle of community philosophy. It was Room briefings, Gawande private system with insurance reimburse- is alsoa medical practitioner, I ask.
a newborn they could not risk bringing around their growing children. through this returned to being a nobody ment for all — something even a rich Short of witnessing the Earth hurtling
back to India. It was only in his late teens The young Gawande immersed “circuitous route” at medical school. nation like the US has failed to do. The big into the Sun, he jokes, he is not prone to
that Gawande finally visited the country of himself deeply in life in Ohio, forming that he finally Post his medical US mistake — one that India needs to avoid despair. “Anger, yes. Frustration,
his parents’ birth — after smallpox was several niche peer groups — creative, “accepted” what his studies, he started his — was to tie insurance cover to one’s definitely. But not despair.” He ends by
eradicated in 1979-80. scientific, nerdy — and lifelong immigrant doctor surgical practice, became employment. Once the US built around citing the example of Mahatma Gandhi
The irony of his destiny and the fact relationships through the myriad activities parents took as a given: A a staff writer at the New that, it could not accommodate the fact who never despaired and displayed
that vaccines can open, or shut, so many he was absorbed in: Debating, science career in medicine. But Yorkerand plunged that people get laid off, leave their jobs or relentless faith when up against 200 years
possibilities is not lost on either of us. clubs, chess, sports. With liberal thinking, for personal reasons, deeper into the policy are unemployed for long periods and of British oppression and rule. A
Gawande and I are on a Zoom call — he's public spirited parents — his father even he chose to defer his space. “I am energised have no coverage. pandemic that will likely end sooner
logging in from Boston, with his morning raised money in his poor county to help admission to medical ILLUSTRATION: BINAY SINHA when I feel I can solve a To my delight, he assures me that India than later pales in comparison.

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