THURSDAY, 26 AUGUST 2021

26 pages in 2 sections www.business-standard.com

NEW DELHI
~10.00
VOLUME XXVII NUMBER 248

THE MARKETS ON WEDNESDAY chg#

Sensex 55,944.2 q 14.8

Nifty 16,634.7 p 10.1
Nifty Futures* 16,664.9 p 30.3
Dollar
Euro
~74.2
~87.2
~74.2 **
~87.0 **
SITHARAMAN ASKS BHARGAVA, VENU FACE OFF
Brent crude ($/bbl)
Gold (10 gm)###
70.4##
~47,258.0 q
*(Sept) Premium on Nifty Spot; **Previous close;
70.3 **
~261.0 PSBs TO PUSH CREDIT WITH GOVT ON AUTO GST RATE
# Over previous close; ## At 9 pm IST;
### Market rate exclusive of VAT; Source: IBJA P U B L I S HE D S I MU L T A N E O USL Y F R O M AH M E D AB AD , B E NG AL UR U, B H UB ANE SW AR , CH AND I G AR H , CH E NNAI , H Y D E R AB AD , K OCHI, K OL K ATA, L UCK N OW , MUMBA I (AL SO P R IN TE D IN BHOP AL ), N E W DE L HI AN D P UN E
 NEW DELHI | THURSDAY, 26 AUGUST 2021
>
THURSDAY, 26 AUGUST 2021
26 pages in 2 sections www.business-standard.com
NEW DELHI
~10.00
VOLUME XXVII NUMBER 248

THE MARKETS ON WEDNESDAY chg#

Sensex 55,944.2 q 14.8

Nifty 16,634.7 p 10.1
Nifty Futures* 16,664.9 p 30.3 THE SMART INVESTOR PII,1 COMPANIES P2
Dollar
Euro
Brent crude ($/bbl)
~74.2
~87.2
70.4##
~74.2 **
~87.0 **
70.3 **
SEBI ORDERS DEFREEZING OF BANK, MUST COMPLY WITH INDIA’S
Gold (10 gm)### ~47,258.0 q
*(Sept) Premium on Nifty Spot; **Previous close;
# Over previous close; ## At 9 pm IST;
~261.0
DEMAT ACCOUNTS OF RANA KAPOOR RULES: WALMART CEO
### Market rate exclusive of VAT; Source: IBJA P U B L I S HE D S I MU L T A N E OUSL Y F R O M AH M E D AB AD , B E NG AL UR U, B H UB ANE SW AR , CH AND I G AR H , CH E NNAI , H Y D E R AB AD , K OCHI, K OL K ATA, L UCK N OW , MUMBA I (AL SO P R IN TE D IN BHOP AL ), N E W DE L HI AN D P UN E

Bhargava, Venu
OVER 600 MN
VIRUS
TRACKER COVID VACCINE
DOSES GIVEN Top taxpayers may get
face off with govt
to exit faceless scheme
INDIA
Total 32,512,366 é37,593
Active cases Recovered
322,327 31,754,281 435,758
é2,776 é34,169
Deaths

é648
Recast of scheme is being discussed to bring in more flexibility into the system
on auto GST rate
602,342,536 SHRIMI CHOUDHARY ON THE TABLE Call for tax cut to arrest decline in sales
Vaccination é 7,705,119
New Delhi, 25 August
> Finmin received > Discussions held on ARINDAM MAJUMDER & SHALLY SETH MOHILE
suggestions from making the scheme

T
WORLDTotal Note: Total cases
include 1 migration;
he Centre is looking at modify-
industry on modifying optional for complex
New Delhi/Mumbai, 25 August

213,301,298 arrow shows 1-day

change; figures as
of 9 pm IST; sources:
ing the ambitious Faceless
Assessment Scheme (FAS) faceless scheme cases In a rare face-off, captains of the auto
Ministry of Health
Deaths meant to cut down the physical industry have hit out at the government
and Family Welfare; > Such cases should be sent back to jurisdictional
interface between a taxpayer and the for not walking the talk. At an industry
4,454,812
CoWin.gov.in; Johns
Hopkins Coronavirus assessment officer like earlier, it was suggested
Resource Center Income Tax Department. Among other event in the capital on Wednesday, R C
J&J: BOOSTER SHOT STIMULATES things, the change could offer flexibility > Concerns raised about > International Bhargava, chairman of India’s largest car-
to the top rung of taxpayers whose regional issues such as taxation, capital gains maker Maruti Suzuki, and Venu
NINE-FOLD RISE IN ANTIBODIES P8 income exceeds ~200 crore. Such tax- Srinivasan, chairman of TVS Motor, ques-
language during the can be dealt with by
payers could get room to opt out of the assessment process expert team tioned the government’s intent to support
faceless scheme and go for jurisdictional the auto sector. Revenue secretary Tarun
IMAGING: AJAY MOHANTY
assessment, a government official in the Bajaj sat in the audience listening, before
SEVERE THIRD WAVE know said. “The finance ministry’s revenue by taxpayers over anomalies since the his turn came to counter them.

UNLIKELY: NK ARORA Also, talks are on to explore if areas

such as international taxation and capital
department has received several such
suggestions from industry stakeholders.
new regime was introduced last year.
Some even took the legal route against
Calling for a reduction in taxes, the
auto majors expressed frustration that
India may not see a terrible third wave, but it gains could be handled by expert teams We are examining the pros and cons of the faceless regime. the contribution of the industry towards
has to prepare for the worst, Narendra within the tax department. If required, these proposals to see whether there’s On the flexibility option for top tax- India's growth was perhaps not being
Kumar Arora, co-chairman of the Indian complex cases could be sent back to juris- room for modification,” the official said. payers, there have been talks on complex recognised by policymakers as cars were
Sars-Cov-2 Genomics Consortium, told dictional assessment officer like it used “As the faceless scheme is still evolv- cases with income of over ~200 crore, still being considered a luxury only the
Business Standard. Amid concerns around to be done earlier. ing, it will require continuous rework to according to the official. Only about rich can afford.
booster shots, Arora said a Discussions have also been held on make it viable for taxpayers. The purpose 100,000-150,000 cases are taken up “There have been a lot of statements
decision on such a dose how to tackle local and regional barriers of the scheme was to eliminate corrup- annually for scrutiny. This is about 0.5 made on the importance of the auto
R C Bhargava (top), chairman,
would be taken during a faceless assessment, and tion and not to cause inconvenience to per cent of the total taxpayer base, of industry. But in terms of concrete action,
Maruti Suzuki, and Venu
depending on the local whether cases could be kept with the taxpayers,” he added. which majority are complex matters. which would reverse the decline in trend,
Srinivasan, chairman, TVS Motor,
context. “That the US same state and different cities. The discussion follows concern raised Turn to Page 11 > I haven’t seen any on the ground. I am
questioned the government’s
and Israel are giving afraid words don't get us very much in
intent to support the auto sector
these shots is noted but terms of extra sales,” said Bhargava.
our decision will be It was seemingly directed at Bajaj,

FM asks PSBs to push credit

based on our who, as head of the Department of
data,” he said. 11 > Revenue, exercises control related to STEEP RIDE
direct and indirect tax of the union. Tax paid by customers* (%)
Industry lobby group Society of Germany 19-20
COMPANIES P2 SUBRATA PANDA & ABHIJIT LELE Indian Automobile Manufacturers
AirAsia’s loss nearly Mumbai, 25 August FAMILY PENSION OF (Siam) said the overall auto volumes in Japan 18-22
doubles YoY in FY21 Finance Minister Nirmala Sitharaman
BANKERS SET TO 2020-21 (FY21) in the domestic market
pushed the industry back by six years.
India 37-80
MORE THAN TREBLE
Note: During final acquisition of vehicle
Source: SIAM
AirAsia India’s loss nearly doubled to ~1,533 on Wednesday asked public sector Turn to Page 11 >
crore on a year-on-year (YoY) basis in FY21 banks (PSBs) to reach out to various Family pensions of deceased bank
while that of Vistara narrowed to ~1,612 sectors, especially export, to address employees will more than treble now,
crore during the same period, according to their credit needs in order to keep up with Finance Minister Nirmala Sitharaman
company filings. Air travel in FY21 was
marred by Covid-19, which led to two-
the momentum of the stimulus for
economic revival. She also told them
removing its cap in favour of a uniform
30 per cent slab to be calculated on the last SBI FUND GARNERS ~12,000 CR IN NFO
PHOTO: PTI

month suspension of flights, grounding of to conduct a credit outreach pro- salary drawn by the employee. With this, The SBI Balanced Advantage Fund has Indian equity markets and strong
fleet and losses. Domestic air traffic slipped gramme in every district of the coun- the family pension rises from a maximum collected a corpus of ~12,000 crore in its returns generated by equity funds,
to a seven-year low last year and recovery try, starting October. of ~9,284 per month to as high as ~35,000. new fund offer (NFO), the highest- investors have flocked towards
has been gradual. “I don’t think it is time yet to con- ever seen in the active funds NFOs of mutual funds. Last
NCLAT TO HEAR JET AIRWAYS STAFF’S I DON’T THINK IT IS TIME YET TO clude that there is no credit pick-up.
PAGE 6
space. And, company officials month, ICICI Prudential Flexicap
PETITION AGAINST REVIVAL PLAN P3 CONCLUDE THAT THERE IS NO Even without awaiting indications, say they expect to collect fund raised ~9,808 crore in its
we have taken steps to ramp up in 2019 wherein they covered all
CREDIT PICK-UP” credit,” Sitharaman said while districts and extended all kinds of
another ~1,000 crore as online
applications will continue to arrive
NFO. In 2017, passive fund BHARAT
22 exchange-traded fund had
ECONOMY & PUBLIC AFFAIRS Nirmala Sitharaman, addressing the media in Mumbai. credit facilities to meet the till midnight. The offer closed on received ~14,499 crore through its NFO,
‘Tax department mustn’t Finance Minister Banks had done a similar exercise demand requirements. Turn to Page 11 > Wednesday. With the sharp surge in shows the Value Research data. II,1 >
work in perfect vacuum’
If the withdrawal of the retrospective
taxation brings in greater
investment and business into
the country, collections will
be higher, Central Board of
Delhivery plans $1-billion IPO
Direct Taxes Chairman BAIJU KALESH Founded in 2011, Delhivery han- month and could raise as much as
J B MOHAPATRA tells 25 August dles more than 1.5 million ~166 billion ($2.2
Dilasha Seth. packages a day through its Founded in 2011, billion). Flipkart,
Delhivery Pvt, an Indian logistics 43,000-strong team across Delhivery handles the Indian e-com-
FULL INTERVIEW P4 and supply chain start-up, plans to India, according to its website. more than 1.5 merce giant con-
file a draft prospectus as soon as The company completed a million packages a trolled by Walmart
THE SMART INVESTOR PII,1 October for its initial public offering series H funding round in day through Inc., and digital
its 43,000- education startup
Two-thirds of BSE500 (IPO) that could raise about $1 bil-
lion, according to people with knowl-
June led by Fidelity. It
also counts Fosun strong Byju, are also pre-
stocks in the red in Aug edge of the matter. International Ltd., team paring for their
Though the benchmark indices are hovering The company, backed by Tiger Global and across first-time share
near all-time highs, over two-thirds, or 354, SoftBank Vision Fund and Carlyle Times Internet Ltd. India sales, Bloomberg
of the BSE500 stocks have posted negative Group Inc., is targeting a Mumbai among its backers. News has reported.
returns in August on a month-to-date (MTD) listing before March next year, said Delhivery would add to a Details of
basis. Of these, 108 stocks have corrected the people, who asked not to be iden- strong lineup of Indian startups that Delhivery’s IPO including size and
between 10 per cent and 31 per cent so far in tified as the information is private. are ready to tap the IPO market in the timeline could still change as delib-
this month. On MTD basis, the BSE MidCap The offering could include both new coming months. Paytm, the country’s erations are ongoing, the people said.
index has fallen 0.6 per cent, and the and existing shares, one of the leader in digital payments, filed its A representative for the company
SmallCap index has declined 3.1 per cent. people said. preliminary offering documents last declined to comment. BLOOMBERG

Private members-only biz clubs back to life

New menus, hi-tech air filter systems, Zoom rooms to woo patrons “Traction and footfalls have
significantly increased post the
PAVAN LALL second re-opening,” he says. “In fact,
Mumbai, 25 August when compared to July 2020, our
revenue and footfall are up by over
The buzz is slowly returning to private 200 per cent in July 2021. We’re seeing
members-only business clubs across an increase in ‘revenge buying’ with
the country after a period of quiet members wanting to step out for
resulting from the second pandemic- social occasions.”
induced lockdown. And to woo The Quorum in Mumbai was
patrons back to the premises, many of conceived during the pandemic and
these exclusive clubs are going the so, features for members have been
extra mile with new menus and the designed to serve the needs of a new
promise of a safe environment. world. “We created Zoom rooms since
Take, for instance, the country’s videoconferencing has become
first exclusive club, The Chambers, at such an important mode of
the Taj Mahal in New Delhi. It The Chambers at the Taj Mahal in Delhi opened with new features such communication,” says Narain.
recently announced “Innergise”, a as a 60-seater restaurant, the Rayasina, seven meeting rooms of which “These rooms have been designed
curated set of menus featuring home- one is designed by luxury brand Stefano Ricci, and a cigar lounge with great acoustics and curated
grown ingredients with immunity- artwork to help create the perfect
boosting superfoods and setting for calls.”
antioxidants. The Indian Hotel on the cards is one in Bengaluru. hygiene checks are all in line with a The Chambers at the Taj Mahal in
Company Limited (IHCL), which At The Belvedere, The Oberoi’s post-pandemic world at Delhi, too, opened after renovation
runs seven Taj hotels, has six such private club that is located across five The Belvedere. some months ago. Among the new
business clubs in Mumbai (two cities, members have started turning Meanwhile, some players are even features here is a 60-seater restaurant,
locations), Delhi, Kolkata, Chennai up for lunch, dinner and cocktails. choosing to expand. Vivek Narain, the Rayasina, seven meeting
and Hyderabad. There’s also one in Some of them, who frequent the club who founded The Quorum in rooms of which one is designed by
Dubai and another is being opened in but requested not to be named, say Gurugram and then launched one in luxury brand Stefano Ricci, and a
London by the end of the month. Also stringent air ventilation systems and Mumbai, says business is up. cigar lounge. Turn to Page 11 >
2 COMPANIES NEW DELHI | THURSDAY, 26 AUGUST 2021

STOCKS > Allied Digital Services

Bags 6-year contract
> Adani Ports & SEZ
AP govt approves
>Aptech
Board to meet on
> Borosil Renewables
Board approves
> Sudarshan Chemical Industries
Axis Mutual Fund buys
IN THE NEWS worth ~650 crore from acquisition of 10.4% August 31 to launch new fundraising up to 0.85% stake from
global IT firm stake in Gangavaram Port online business ~500 crore promoter
~65.8 CLOSE ~720.7 CLOSE ~280.2 CLOSE ~308.4 CLOSE ~598.4 CLOSE
p9.9% UP* p3.7% UP* p11.1 UP* p5% UP* p5.6% UP*
*OVER PREVIOUS CLOSE

>

IN BRIEF
Jindal Steel plans $2.4-billion IT hardware firms call for AirAsia India
spend in 6 yrs, double output
YoY losses
Jindal Steel & Power Ltd. plans
to spend $2.4 billion over the
next six years to ramp up
capacity, joining its peers in
announcing massive
more benefits under PLI
Global brands find import of laptops, tablets cheaper than making in India surge 95% to
expansions as a recovery from
KEY DEMANDS
~1,533 crore
the pandemic boosts demand. SURAJEET DAS GUPTA
The steelmaker plans to raise New Delhi, 25 August
total crude steel capacity to 15.9 n Increase average incentive

G
million tons by March 2025 from lobal and domestic players eli- to 5%, instead of 1-4%
8.6 million tons, the New gible under the government’s
Delhi-based company said in production-linked incentive n Extend the tenure of the
an investor presentation on Tuesday. The expenditure also (PLI) scheme for IT hardware, scheme from four years to
includes plans to more than double pellet production have asked the ministry of electronics and eight
capacity to 21 million tons by 2024, it said. information technology (MEITY) for a sub- n Extend the first year of the
BLOOMBERG stantial increase in incentives as well as in scheme from 2021-22 by
the tenure of the scheme, as they are find-
another year
ing it difficult to get global brands to
Prime Venture Airtel board to meet undertake contract manufacturing in n Reduce the condition of the
Partners announces on Aug 29 to consider India for laptops and tablets. minimum incremental
Global laptop brands feel it is cheaper to investment that companies
4th fund of $100 mn fundraising options import the devices into the country at zero have to do under the scheme
Venture capital firm Prime Telecom operator Bharti Airtel duty from their production bases in China
Venture Partners has on Wednesday said its board and Taiwan. Hence, there is little incentive n Suggestion on creating an
electronic component fund to
announced its fourth fund of
$100 million, with the first
will meet on August 29 to
consider various capital raising
for them to manufacture in India or even
export them, since the country does not push component eco system FLYING LOW
close of $75 million. Prime had options, including equity and have a domestic component ecosystem. Net loss FY 2020 FY 2021
raised its last fund of $72 debt. The fundraising options Nearly 20 companies eligible under the goods, but India is a signatory to the ITA-1 Says a top executive at one of the com- (in ~crore)
million in 2018, the second entail equity or equity-linked IT hardware and mobile device PLI agreement in 1997, which allows the panies cleared for PLI: “The disability
AirAsia
fund of $46 million in 2015, or debt instruments, the schemes as well as electronic component import of completely built units at zero between India and China in laptops ranges India IndiGo SpiceJet Vistara
and a $8-million first fund in company said in a regulatory manufacturers met with the minister of duty for IT products like laptops. from 8.5 per cent to 9 per cent. Clearly, the
2012. It will continue to focus filing but did not divulge into state for Electronics and IT, Rajeev Component manufacturers have put PLI incentive is not enough to bridge this

-233
on being the first institutional the quantum of capital raising Chandrasekhar, to discuss their concerns in a demand for a special electronics com- gap and make made-in- India attractive.
investor, maintaining its under consideration. The latest about the schemes and the scope for build- ponent fund which will offer them finance, Also, we do not have a components infras-

-783

-934
-998
high-conviction and deep- move is expected to give more ing a component infrastructure. The com- especially in the small and medium enter- tructure in the country and that will take
support investing model in fire power to Airtel, as the panies included Dell, HP, Apple, Dixon, prises (SME) sector, say sources. They have time. So a PLI for four years to build a local

-1,533
early-stage technology start- company takes on rivals in the Optiemus, Micromax, amongst others. asked for interest subvention and other components base is too short.” The gov-

-1,612
-1,814
ups. fiercely-competitive Indian The IT hardware companies have asked incentives so they can be globally compet- ernment had earlier put together an ambi-

-5,806
BS REPORTER telecom market. PTI the government to double the incentive itive. Many of them said that for PLIs to tious plan for enhancing exports under the
Source: Bloomberg
provided under the scheme, which is grow, exports have to be a key focus area, PLI scheme for IT hardware. In February Source: Companies Compiled by BS Research Bureau
HSBC India gets new Bewakoof raises between 1 per cent and 4 per cent, depend- as the domestic market is not sufficient this year MEITY had projected a total pro-
head for three years ~60-cr funding, eyes ing on the year, on their incremental net
sales (2.5 per cent on an average) to five per
for this purpose.
According to the latest numbers
duction of ~326,000 crore in the next four
years of the scheme, out of which 75 per ANEESH PHADNIS He added that the expense
after RBI nod ~2k cr sales by 2025 cent and increase the tenure from four to released by the India Cellular and cent would come from exports. Mumbai, 25 August : was one off in nature and the
HSBC India on Wednesday said Bewakoof on Wednesday said eight years. Moreover, as five months of FY Electronics Association, the import of lap- Yet a press release in July, announcing return of planes has helped
the Reserve Bank of India has it has raised ~60 crore in 21-22, the first year of the scheme, have tops and tablet categories in India has seen commitments made by 14 companies AirAsia India’s losses nearly the company save costs. The
approved the appointment of funding from InvestCorp, already elapsed, they want a year’s exten- a sharp 50 per cent increase in the April- (global and domestic) that were eligible doubled to ~1,533 crore on a company has instead pre-
Hitendra Dave as its country IvyCap and Spring Marketing sion, ie, that the scheme should begin from June quarter — from ~6000 crore in FY20- under the scheme, suggests that the total year-on-year (YoY) basis in ferred lower priced leases
head for three years, effective Capital. Bewakoof will utilise 2022-23. Some have also demanded that the 21 to ~10,000 crore in FY 21-22. production value in the next four years is FY21 while that of Vistara nar- from third parties.
August 24. He is a general the fresh proceeds for scaling incremental investment required to be A recent EY study said that the total expected to be only Rs 160,000 crore, rowed to ~1,612 crore during In its latest annual report,
manager within the group and up the business, marketing made under the scheme should be reduced. market for laptops in India in 2019-20 was which is half of the government’s earlier the same period, according to AirAsia India said it has main-
a member of the Asia Pacific and talent acquisition, a In other electronics products (like pegged at $4.85 billion. Chinese imports projections. Exports, too, would be only 37 company filings. tained focus on becoming the
Executive Committee of HSBC. statement said. mobile devices) there are duties which can dominated, with a market value of per cent of the total production value, a Air travel in FY21 was lowest cost airline in India.
BS REPORTER PTI be imposed on the import of finished $3.65 billion. steep drop from the earlier target. marred by Covid-19, which led Non fuel-unit cost was 10 per
to two-month suspension of cent lower than IndiGo
flights, grounding of fleet and between April and December
Sadashiv Nayak to take over losses. FY21, it said. The airline also

as CEO of Future Retail India has its own rules, we must Domestic air traffic slipped
to a seven-year low last year
and recovery has been gradual
improved its market share in
cargo. Cargo revenue
increased from ~67 crore to ~81

comply with them: Walmart CEO

Future Retail Ltd (FRL) said due to state-wide restrictions crore on a YoY basis. It came
Sadashiv Nayak has been and vaccination. on top in on-time flight per-
appointed as its chief executive For the Tata group airlines, formance for three months
officer with effect from it was a year of mixed for- and second for four months
Wednesday. The board of the PEERZADA ABRAR tunes. While Vistara’s operat- last year.
company at its meeting held on Bengaluru, 25 August WE’RE REALLY PROUD OF THE HISTORY ing loss increased, its net loss Both AirAsia India and
Wednesday "considered and THAT WE’VE HAD IN THE COUNTRY, AS reduced from ~1,814 crore in Vistara benefited from foreign
approved" the appointment of India is a diverse country and Walmart has FY20 to ~1,612 crore in FY21 exchange gains due to
Nayak as CEO, the Future Group to think and execute locally and comply
WE WORK TO BUILD A BUSINESS due to foreign exchange gains. strengthening of the Indian
firm said in a regulatory filing. with its rules, said Doug McMillon, chief THERE. WE THINK THE FUTURE IS On the other hand, AirAsia rupee in FY 21.
Nayak has been associated with Future Group for over 17 years. executive officer (CEO) and president of BRIGHT, AND WE ARE GOING TO SEE India’s net loss rose 95 per cent In a statement, Vistara said
In the last 8 years as the CEO of Big Bazaar, he has played a the world’s largest retailer. from ~782.30 crore to ~1,533 it added new aircraft,
pivotal role in making Big Bazaar what it is today, it said. PTI “It has its own rules. So we’ve got to A MARKET THAT’S NORTH OF A TRILLION crore in the same period. expanded its network and
comply with them,” said McMillon during US DOLLARS BY 2025 AirAsia India’s auditor has took measures to reduce
a fireside chat with Prof Murali Mantrala flagged risk about the compa- expenses. The airline added
of The University of Kansas School of DOUG MCMILLON, CEO, Walmart ny’s ability to continue as a that it has renegotiated con-

Google set to work on Business at Converge @ Walmart, the flag-

ship event of Walmart Global Tech India.
“Today we’re not allowed to make foreign
India’s retail market is estimated to reach
over $1 trillion by 2025.“We’re really proud
thinking about making the investment in
Flipkart and PhonePe, his key takeaways
going concern, in view of the
complete erosion of net worth,
following its FY21 result.
tracts with vendors and is
working to achieve a lean cost
structure.

e-safety steps in India

direct investment (FDI) in a multi-brand of the history that we’ve had in the coun- were the teams there can solve problems. On the revenue side, “In FY21, despite the chal-
retail store, the physical bricks and mortar try, as we work to build a business there,” “No doubt every market where we Covid-19 disruption and lenges of the pandemic, we
store. So, we operate differently.” He said said McMillon. “We think the future is operate, especially in India, is going to phased increase in operations stayed focused on our expan-
the company has to solve the problem of bright, and we are going to see a market have challenges. It is a dynamic environ- led to 63 per cent fall for sion strategy and launched
NEHA ALAWADHI & PEERZADA ABRAR tect our users, we’ve taken a food business in that kind of model. that’s north of a trillion US dollars by 2025.” ment. Rules, customers, and competitions AirAsia. Its revenue declined operations to six new interna-
New Delhi & Bengaluru, 25 August holistic approach,” said Kristie McMillon said the Indian market is McMillon said he is excited about the are changing,” said McMillon. “The real to ~1,358.72 crore in FY21 from tional destinations under
Canegallo, vice-president, very unique and is one of the most exciting leadership teams at Flipkart and PhonePe question is can you show up every day and ~3,682.91 crore a year earlier. travel bubble agreements,
Underlining the wider impact Trust and Safety, Google. around the world. It is among the top and the associates in India, and the busi- have a really capable engaged set of asso- Vistara’s revenue dropped 52 including London, Dhaka,
of the post-Covid-19 acceler- She added that her team three, along with the US and China. The nesses that are being built. He said the ciates and leaders that want to solve per cent to ~2,243.49 crore in Doha, Frankfurt, Sharjah and
ation in digital adoption in was working closely with pro- Bentonville-based firm (in Arkansas) is Flipkart business has now reached over tomorrow’s problems.” FY21 from ~4,738 crore in Malé, besides resuming oper-
India, Google said it had duct teams to improve user locked in a battle with US rival Jeff Bezos- 300,000 marketplace sellers and PhonePe The role of technology in all of Walmart’s FY20. ations to Dubai. We also man-
stepped up its commitment to experience by introducing founded Amazon, Mukesh Ambani- business has more than 300 million users. markets, including India, is now even more AirAsia India declined aged to build on our opera-
online safety with a slew of more in-product warning mes- owned Reliance’s JioMart, and Tata- “Both are growing very well,” said important than ever. “We are fortunate at comment. A company source tional capacity by adding one
new initiatives, including sages. “We’ve also enhanced owned BigBasket for dominance in India’s McMillon. “It’s been really fun to see how Walmart that we inherit a strong set of DNA said that the widening of loss Boeing 787-9 Dreamliner, two
increased efforts from its Trust our enforcement capabilities online retail market through Flipkart, our team there solves problems because from our founder Sam Walton who loved was due to redelivery expens- Airbus A321neo and eight
& Safety team. by using machine learning to which it bought for $16 billion in 2018. you have to be so creative, open, and fast change,” said McMillon. He said purpose es attached with return of Airbus A320neo aircraft to our
Announced at the virtual try to prevent abuse. And we’re Digital payments giant PhonePe also came and that inspires us around the world.” and values are constant at Walmart and seven Airbus A320 planes to fleet,” a Vistara spokesperson
Google for India event on partnering with regulatory to Walmart as part of the acquisition. McMillon said when Walmart was everything else is open to change. AirAsia Berhad in Malaysia. said.
Wednesday, the new invest- bodies to try to actually stay
ments include expanding ahead of scammers,”
resources in its Trust & Safety Canegallo said at a virtual
teams in the country, the
launch of a newly enhanced
Google Safety Centre in eight
Indic languages, and user edu-
press briefing on Wednesday.

Spreading the message of

online safety
Pandemic leads to boom time for tech fraud fighters
cation programmes focused In addition to launching the SACHIN P MAMPATTA THE FRAUD FILE the market has also led to a have also laid emphasis on
on online safety for kids and global ‘Be Internet Awesome’ Mumbai, 25 August Type of fraud respondents expect to see over need to have specialists and payment platform security
families. programme for next two years (in %) domain experts across the and other related guidelines.
Google will also children in More people using the Cybercrime 19.09 board – including This has lent heft to
Trust & safety partner with comic India, Google internet for financial and e- technologists and accountants. organisations to kick-start
Google said it book publisher Amar will also partner commerce transactions has Vendor/customer We foresee this demand to pick fraud management on
/favouritism 13.11
significantly Chitra Katha to with comic book led to job creation in a niche up in the future, especially in priority.
increased its interweave critical publisher Amar segment. Bribery and 11.97 proactive fraud assessments, “Many enterprises are
resources ded- internet safety lessons Chitra Katha to Specialists who can help corruption compliance and risk embarking on a journey of
icated to its through popular comic interweave criti- deal with rising technology Supply chain 11.4 monitoring, and cyber- optimising their digital
fraud
India’s trust & book characters across cal internet frauds are in high demand Fraud due to response frameworks,” says platforms to be more fraud
safety teams, 8 Indian languages. safety lessons amid the surge in electronic use of bots, AI 8.26 Singh. aware with enhanced
including pro- through popular transactions during the Note:Cybercrime includes data theft, breach, and “We are seeing increased security,” says Bhat.
duct policy analysts, security comic book characters across pandemic. Demand for tech intellectual property fraud. Supply chain fraud includes hiring of domain experts since Companies had identified
counterfeiting and inventory pilferage. Shows top five
specialists, and user trust eight Indian languages. fraud experts has risen fraud categories that respondents in the survery expect
the nature of fraud is no longer tech-related fraud as among
experts that support more It would educate Google’s upwards of 35 per cent, reveals their organisations to experience over next two years; simple, but (has) evolved into their major challenges,
than 10 vernacular Indian lan- users on important topics employment and human Source:2020 Deloitte Touche Tohmatsu India LLP India complex scenarios that are not according to a December 2020
Corporate Fraud Perception Survey, Edition IV
guages, enabling the central such as data security, privacy resource services company easily detectable. Enterprises Deloitte Touche Tohmatsu
teams to benefit from the local control, and online protection. TeamLease Services. have begun extensively using India LLP India Corporate
nuance and inputs. These initiatives are sup- Financial services and e- over the last three quarters in audit, and forensic analysis. smartphones and the Internet advanced data analytics, Fraud Perception Survey.
“We know customer sup- ported by a series of new commerce firms are among particular, says Naren Bhagi, A spokesperson for KPMG of Things, , ransomware, and machine learning technology, Respondents had listed
port fraud has been a prev- global policies announced by the major drivers of demand. associate vice-president and in India says hiring of tech other cybercrimes. and security platforms to cybercrime as the fraud their
alent issue in India. This is Google. These include pro- Many companies find it easier business head of information fraud experts is up more than Arpinder Singh, global either have a tech-fraud organisations are most likely
where scammers are using duct changes to Google to outsource management of technology infrastructure at 100 per cent amid increased markets and India leader, prevention or early-detection to experience over the next
social engineering techniques Accounts for people under 18 the issues to a consulting firm TeamLease Digital. demand for these services. forensic and integrity services mechanism,” says Prashant two years. They had also
to dupe users into making across YouTube, Search, since building internal There are upto 25,000 Skills in demand include at EY, says there is increased Bhat, managing director- additionally listed fraud due
financial transactions and this Location History, Play, and capabilities is seen to be more openings in the segment, forensic tech skills, which are demand in the field of cybersecurity and privacy, to use of bots, artificial
is often resulting in huge Google Workspace for expensive, say trend-watchers. which include people for used to investigate computer cybersecurity and data privacy. Protiviti Member Firm for intelligence, and related
losses for victims. So, to pro- Education. Demand has picked up fraud detection, prevention, crimes involving “The demand witnessed in India. He adds that regulators technologies in the top five.
.
NEW DELHI | THURSDAY, 26 AUGUST 2021 COMPANIES 3 <

Auditor flags Tata Steel Europe’s NCLAT to hear plea of Jet

staff against revival plan
ability to carry on as going concern ANEESH PHADNIS
Mumbai, 25 August

The National Company Law

NCLAT on Wednesday gran-
ted two weeks to the resolution
professional and the commit-
tee of creditors to file their
lenged the resolution plan.
On June 22, the Mumbai
Bench of the National Com-
pany Law Tribunal (NCLT)
FY20 FY21 % chg uneration of Chairman N Chandra- Appellate Tribunal (NCLAT) response on the appeals and cleared the airline’s revival
DEV CHATTERJEE
Mumbai, 25 August BALANCE SHEET Revenue from operations 24,770.5 9,460.2 -61.8 sekaran and other directors. The remu- has said that they will hear a agreed to hear admission on plan. While Jet Airways had
Figures in ~crore neration of executive director Sourabh petition filed by the employ- October 8. The tribunal was admitted claims of around
Other incomes 125.9 10,138.1 7,950.6

T
he auditor of Tata Sons has Agarwal was up by 35 per cent to ~21.5 ees of Jet Airways against the hearing an appeal filed by the ~15,000 crore, the Kalrock-
drawn the attention of the com- Total income 24,896.4 19,598.4 -21.3 crore, according to the report. An exten- Kalrock-Jalan revival plan on Association of Aggrieved Wo- Jalan consortium offered to
pany’s shareholders regarding sion of his term will be discussed in the October 8. rkmen of Jet Airways against settle claims of ~475 crore of
Finance cost 2,737.1 2,569.8 -6.1
material uncertainty related to the upcoming AGM on September 14. The Several employee groups the plan as it contravenes with financial and non-financial
going concern status of Tata Steel PBIDT 22,599.9 18,231.1 -19.3 profit before tax was ~7,523.01 crore in have moved NCLAT seeking the provisions of the Inso- creditors. Employee claims
Europe, a subsidiary of Tata Steel. Profit before exceptional 19,822.2 15,617.8 -21.2 FY21, as against ~2,679.75 crore in the stay on the insolvency order lvency and Bankruptcy Code. worth ~1,265 crore were
“We draw your attention to the con- items and tax previous year, an increase of 181 per approving the revival plan, as The Bharatiya Kamgar Sena admitted and the consortium
solidated financial statements regard- cent. The company also managed to it hurt their interests. and Jet Airways Cabin Crew proposed ~52 crore to settle
ing adequacy of the disclosure made Exceptional items 17,142.4 8,094.8 -52.8 lower its net debt to ~27,615 crore, while A division Bench of the Association, too, have chal- their claims.
concerning Tata Steel Europe’s ability Profit of the year 2,679.8 6,511.6 143.0 its gross borrowing was ~30,334.30 crore
to continue as a going concern. The Net worth 45,585.6 51,820.1 13.7 for FY21 (see chart).
Covid-19 pandemic will require Tata Tata Sons said during FY21, it inves-
Steel Europe to access group company Debt * 32,178.7 30,828.3 -4.2 ted in its subsidiaries based on their
support to meet its obligations as they *Includes other financial liabilities Source: Annual Report requirements for capital and deleverag-
fall due. Tata Steel Europe has received ing their balance sheets. It also incre-
Empowering
a letter from TS Global Procurement ased stake in its key listed subsidiaries, India.
TODAY FOR TOMORROW

Company undertaking to provide work- required by TSE will be made available. per cent to ~9,460.24 crore in FY21 as the report said. It also said that the mar-
ing capital and/or other cash support The rise in steel prices, however, is sho- against ~24,770.46 crore reported in the ket value of Tata Sons’ listed invest-
up to a specified amount which exceeds wing signs that its fortune will revive. previous year. ments was ~10.29 trillion as on March CALLING ALL MSMEs TO REGISTER FOR THE EVENT
the amount forecast as being required “These conditions, along with other The operational revenue comprises 31, 2021, a rise of 84 per cent compared MANUFACTURING EXCELLENCE IN MSMEs
by Tata Steel Europe over the next 12 matters, and the existence of material dividend income from subsidiaries and to the previous year. This is owing to a Focus: Smart Manufacturing and Funding
months,” the report said. uncertainty may cast significant doubt it was far higher in FY20 due to special booming stock market. August 27, 2021, 10AM onwards (Virtual Platform ZOOM)
Tata Steel Europe reported a loss of about Tata Steel Europe’s ability to cont- dividend received from its profit gen- Among its subsidiaries, Tata Tele-
£793 million pounds ($1.08 billion) in inue as a going concern. The consolida- erating subsidiary, TCS. Other income services continues to be a major cash
the last financial year, mainly due to ted financial statements do not include for FY21 was ~10,138 crore compared to drainer. Tata Sons said as on March 31, SPEAKERS
the fall in demand caused by the pan- adjustments that would result if Tata ~125.93 crore in the previous year. This 2020, TTSL and its subsidiary, Tata Special Guest Special Address
demic. Though Tata Steel has pledged Steel Europe was unable to continue as is mainly due to the profit from buyback Teleservices (Maharashtra) (TTML) had
financial support to its European oper- a going concern,” auditor, BSR said. of shares by TCS, according to the ann- provided ~10,399.97 crore towards
ations, its auditor, PWC has warned The annual report said the opera- ual report of the company. However, the licence and spectrum dues, arising out
there can be no certainty that the funds tional revenue of Tata Sons fell by 62 annual report did not mention the rem- of a Supreme Court judgment.

Ms. S. Glory Swarupa Mr. Vishal Shah

Hyundai bets big on new Molbio developing more

tests for Truenat platform
Director General
National Institute for MSMEs,
(Ministry of MSME, Govt. of India)
Executive Director
V-Trans India Limited

N-Line performance cars SOHINI DAS

Mumbai, 25 August
Around 30 new tests are on
the cards.
Presentation by
Dr. Purnima Voria
PAVAN LALL The Truenat platform gai- on USA India Joint Venture options
Mumbai, 25 August Molbio Diagnostics that inv- ned traction during the pan-
ented ‘Truenat Real-Time demic and in the last one year SESSION I: SMART MANUFACTURING
Even as luxury carmakers stir PCR’, the world’s only point- the firm sold close to 3,000
the pot of alphabet soup with of-care (PoC) platform used by machines. This is 3X what it
BMW’s performance M Series, the WHO to detect tuberculo- had sold in the previous year.
Audi’s RS variants, Mercedes- sis, is now prepping up to co- Truenat was used as PoC
Benz’s AMG Sport line-up, Hy- me up with more tests on the detection for Covid in the hin-
undai, too, has joined the tribe same platform. terland where laboratory facil-
by launching the N-Line brand Apart from Covid-19 and ities are rare. Dr. Venkataramanaiah Dr. Sanjiv Layek Mr. Rajeev Vijh
in India. tuberculosis, Molbio is prepar- The firm has over 4,000 in- Professor Executive Secretary Director, Kriyanvit Consulting
Hyundai’s ‘N’ represents ing test kits for zika, cholera, stallations in India, and aims Operations Management, at World Association for (Ex- Director, UNIDO IC-ISID)
two elements: Namyang distr- The i20 N-Line gets sportier and aggressive-looking styling nipah, sickle cell anaemia, ch- to be a large global player in IIM Lucknow Small and Medium Enterprise
ict in South Korea, the birth- elements and a tweaked suspension olera, influenza, mumps, syp- the molecular diagnostic seg-
place of the N brand and loca- hillis, yellow fever, HIV2 etc. ment in the coming years. SESSION II: FUNDING THE MSMEs
tion of its global research and The N-Line, which will be different from the standard i20.
development centre; and the presented and introduced in However, its tuning, suspen-
Nürburgring racetrack in Ger- the i20 model line-up to begin sion, and steering feel have
many, home to its technical
centre where N vehicles are te-
with, will go head to head with
the likes of Volkswagen’s Polo
been tweaked for performance.
In the past, market leaders, APPOINTMENTS
sted. If earlier, the mention of GT. The price, says Garg, will such as Maruti Suzuki, have
Hyundai’s smaller cars evoked range between ~10 lakhs and experimented with perform- Dr. Jitendra Das Dr. S S Acharya
mileage, fuel efficiency, cost of ~14 lakhs. It will help create a ance cars. The Kizashi, for ins- Director General Manager, In-Charge
ownership, and practicality, new market and be a brand tance, had to be pulled off the FORE School of Management SIDBI, New Delhi Regional Office
the N-Line stands for mufflers, enhancement. market because of small vol-
sporty spoilers, tail pipes, and “While the chassis is the umes and a high sticker price
edgy rims and wheels, say its same, the engines will include for the sporty sedan.
executives. a turbo powertrain and 1.0-litre “It’s hard to assign a sales
Register in advance for this webinar:
Tarun Garg, director of Hy- turbo GDi i20 that will be able number right off the bat. The https://indianchamberofcommerce.glueup.com/event/manufacturing-excellence-in-msmes-41299/
undai’s sales service and mar- to accelerate to 100 km per ho- i20 sells 7,000 units per month.
keting, says “The Hyundai cus- ur in less than 10 seconds. It As a brand builder, this will Contact Details
tomer over the past year has has better ride, better hand- perhaps clock in sales of aro- Mr. Rahul Chakravorty | M: 8859717108 | E: [email protected]
changed. Individuals, in gen- ling, and better steering. All the und 1,000 cars per month. But
eral, have become more indi- four wheels have disc brakes,” it may take some time to get to
vidualised”. says Garg. The engine is not that,” adds Garg.
4 ECONOMY & PUBLIC AFFAIRS
>
NEW DELHI | THURSDAY, 26 AUGUST 2021 1

IN BRIEF
All Afghans must travel States’ tax revenue 8% ‘I-T dept must
to India on e-visa: Govt not operate
The Union home ministry on
Wednesday announced that all
Afghan nationals henceforth must
travel to India only on e-Visa in view
lower than 2 years ago
But their spending in first quarter of FY22 was 14% higher, reveals analysis
in isolation’

Illustration: Binay Sinha

of the prevailing situation in If the withdrawal of the
Afghanistan. The decision comes days ABHISHEK WAGHMARE the spending on current items, retrospective (retro) taxation
after the government introduced a Pune, 25 August administrative expenses, sal- LONG ROAD TO RECOVERY brings in greater investment
new category of visa called "e- aries, and pensions, and more Figures in ~trn and business into the country,

T
Emergency X-Misc visa" for the he April-June quarter importantly, welfare schemes, n Q1FY20 n Q1FY21 n Q1FY22 collections will be higher,
Afghan nationals after the Taliban (first quarter, or Q1) of was raised 14 per cent over two says Central Board of Direct

4.86
3.38
captured power in that country. 2021-22 (FY22) has seen years. Taxes (CBDT) Chairman J B

4.40
3.11
4.26
"Owing to the prevailing security extreme contradictions. Revenue expenditure was MOHAPATRA. In conversation

2.15
situation in Afghanistan and streamlining of the visa process by India became the new epi- raised last year as well by the with Dilasha Seth, he says
introduction of the 'e-Emergency X-Misc visa', it has been decided centre of the global pandemic Centre and state governments litigations entail huge costs for

0.80
0.87

0.67

0.54

0.54
that all Afghan nationals henceforth must travel to India only on as the second wave over- to diminish the economic the government and precious

0.25
e-Visa," a home ministry statement said. The home ministry also whelmed the health care sys- impact of the pandemic. This energy gets expended fighting IF THIS DECISION
announced that keeping in view some reports that certain tem, leaving hospitals strug- trend has continued this year them. Edited excerpts:
passports of Afghan nationals have been misplaced, previously gling to cope and critical drugs as well.
States’ State’s Revenue Capital
share in own tax expenditure expenditure
OF RETRO TAX
issued visas to all Afghan nationals, who are presently not in India, and oxygen in short supply. But capital expenditure Centre’s tax revenue The income-tax (I-T) BRINGS IN MORE
stand invalidated with immediate effect. "Afghan nationals But it was a quarter that saw (capex), or public spending on revenue department has strongly BUSINESS,
wishing to travel to India may apply for e-Visa," it said. PTI Indian companies rake in productive assets like roads, Sources: BS calculations, Comptroller and Auditor defended the demand raised
record profits. machinery, and infrastructure General of India
against Cairn Energy and
IT IS BETTER FOR THE
A quarter that also saw the projects, took the brunt. Vodafone. In the appeal, TAX DEPT. WE MAY
ICICI Bank files cheating case Government of India earn Capex was flat compared REVENUE SHOCK India’s stand was that Cairn LOSE A RUPEE NOW,
record revenue. with two years ago, at ~54,000 Only 5 states manage to increase revenue (in ~cr) ended up not paying taxes BUT WE WILL GAIN
against Karvy Stock Broking But a Business Standard
analysis of 17 states paints a dif-
crore in Q1FY22. It had dropped
to ~24,000 crore in Q1FY21, as Telangana
Q1, 2020-21
-32.8%
Q1, 2019-20 anywhere in the world. As
CBDT chairman, how
MORE LATER.
ferent picture. Only three of the the pandemic urgency difficult was it for you to let THESE LITIGATIONS
Uttarakhand
A case has been registered against Karvy Stock 17 states analysed - Telangana, prompted states to alter their -32.8% it all go after the withdrawal ENTAIL A COST AND
Broking (KSBL) promoter C Parthasarathy and Punjab, and Haryana - showed spending habits. Uttar Pradesh -29.6% of the retro taxation? OUR ENERGIES GET
others for allegedly cheating ICICI Bank to the higher tax revenue, compared The Centre, on the other Tripura There is always a time and
tune of ~563 crore. According to a press with two years ago. hand, spent 77 per cent more -11.6% context when an amend- DIVERTED FIGHTING
release issued by the police on Tuesday Gujarat and Rajasthan than two years ago on capex in Tamil Nadu -46.3% ment is brought in. In 2012, THEM”
night, the case was booked under Sections remained flat. Tax revenue fell Q1FY22, and 27 per cent more Rajasthan -24.7% it was felt that the Supreme
406 (criminal breach of trust), 420, r/w 34 for as many as 12 states. than a year ago. Court’s order in the parties have to withdraw all
Punjab
(cheating) of IPC against the accused. Funds Seventeen states analysed Kerala faced the biggest -46.0% Vodafone case was probably cases, if they want to get the
raised by KSBL by pledging shares of its six bankers were transferred earned ~3.11 trillion in Q1FY22, revenue shock, with the state’s Maharashtra -45.0% not right since it was a trans- benefit of the amendment.
to the firm's own bank accounts, and not into ‘Stock Broker Client a twofold jump in earnings, tax revenues 27 per cent lower Madhya Pradesh -27.0% action between two non-res-
Account', which is in contravention with the SEBI guidelines, the compared with the same than two years ago in Q1. idents of shares. The trans- Cairn Energy has filed an
police said. PTI quarter a year ago (Q1 of 2020- Industrialised states like
Kerala -51.5% action could not be made appeal in a high court
21, or FY21). Compare this with Maharashtra, Karnataka, and Karnataka -38.4% without getting taxed in against the Income Tax
their earnings of ~3.38 trillion Tamil Nadu suffered a 10 per Jharkhand India. Then reali- Appellate
PCI: Will ensure customers in Q1 of the pre-pandemic year
(2019-20, or FY20).
cent drop in tax revenue.
Among states, Uttar Himachal Pradesh
-36.3% sation dawned
that companies
Tribunal order
related to the
-33.6%
don't need to key in card no. In contrast, the central gov-
ernment’s gross tax revenue
Pradesh led in capex, with
~9,700 crore worth of spending
Haryana -43.9%
Gujarat -39.4%
which could have
restructured or
same case. Will
that need to be
The Reserve Bank of India (RBI) along with the payments industry, grew from ~4 trillion to ~5.3 tril- in Q1FY22. Madhya Pradesh planned their J B MOHAPATRA withdrawn?
and the payments council of India (PCI) are working on a possible lion over the same two-year came a close second, followed Chhattisgarh -17.4% affairs for these The rules will clar-
Chairman, CBDT
solution that could ensure that the customers do not have to key in period. This includes states’ by Haryana. Punjab, Odisha -23.0% kinds of indirect ify the mode of
their 16 digit credit or debit card number, every time they make share in central taxes. Jharkhand, and Maharashtra transfer of shares action and what
payments through their cards, effective January 2022 when the new Since states' tax revenue fell short on capex in Q1. 0 20,000 40,000 60,000 prior to 2012 should not be both parties will do to honour
RBI rules are supposed to kick in, the PCI said on Wednesday. The PCI was 8 per cent lower than two States’ earnings from devo- Source: CAG penalised for legislative the amendment. There's
said, “The industry and PCI are working in alignment with RBI on years ago, and their share in tax lution of central taxes were action. The basic reasoning another simultaneous case by
possible secure card on file solutions which will ensure a near similar collected by the Centre 23 per substantially lower. These 17 behind the withdrawal of the Vedanta going on in
customer experience for online purchases whilst enhancing the cent lower than two years ago, states reported ~68,000 crore Q1 of last year, and way would get their fair share from retro tax was to bring cer- Singapore, related to the
security of the storage of card credentials of customers”. The RBI was they did not compromise on as their share in Centre’s gross lower than ~87,000 crore July onwards. tainty and stability to the same issue. Those cases will
not willing to budge from its stance, insisting that payment their revenue expenditure. tax revenue in Q1FY22 — lower received in Q1FY20. interpretation of the I-T Act have to be withdrawn as well.
facilitators cannot store customer card details. BS REPORTER Revenue expenditure, or than ~80,000 crore received in But experts said states More on business-standard.com and diminish the pain of
investors struggling with Direct tax collections are
finding meaning in the legis- robust. Do you feel the mop-
lation. up will exceed the modest
N IN THE CABINET N Budget target of ~11.08 trilli-
While the tax department on in the current fiscal year ?

Cane price hiked to ~290 a quintal Nod to ~15,000-cr was right in raising those
demands, CBDT has
relented for a bigger cause —
The numbers look much
better than they would have
otherwise had last year been

FDI in Fairfax India

SANJEEB MUKHERJEE & AGENCIES tax certainty and investor a normal one.
DECADAL
New Delhi, 25 August
Sugar FRP
Minimum
recovery
Premium for
every 0.1% increase
FRP, according to the
Sugarcane (Control) Order,
sentiment?
The taxation department What will India press for at
TREND
The Centre on Wednesday season (~/quintal) (%) (~/quintal) 1966, is the minimum price must not be understood to the Organisation for
hiked the minimum price that
mills have to pay sugarcane
growers — also known as fair
investment vehicle
FRP of sugarcane
in the country
2009-10
2010-11
129.84
139.12
9.5
9.5
1.36
1.46
that sugar mills have to pay
sugarcane farmers.
Major sugarcane producing
be operating in isolation or
in a perfect vacuum. The
greater the business, the
Economic Co-operation and
Development in October?
The threshold at 20 billion
and remunerative price (FRP) 2011-12 145 9.5 1.53 states such as Uttar Pradesh, NIKUNJ OHRI India-specific entity floated for greater the profits, greater euros covering only the top
— by ~5 per quintal to ~290 a 2012-13 170 9.5 1.79 Punjab and Haryana fix their New Delhi, 25 August the purpose of investment in will be taxes rendered. If this 100 companies and 20-30
quintal for the 2021-22 own sugarcane price called infrastructure, transport, logis- decision of retro tax withdra- per cent of profits above a
(October-September) sugar 2013-14 210 9.5 2.21 ‘state advisory prices’ (SAPs), The Cabinet Committee on tics, airport and aviation wal brings in more business, 10-per cent margin may be
season. It, however, ruled out 2014-15 220 9.5 2.32 which are usually higher than Economic Affairs (CCEA) on related businesses. it is better for the tax depart- taxed may not mean much
any immediate increase in the the Centre’s FRP. Wednesday approved foreign “The investment will be a ment. We may lose a rupee in terms of revenue for
2015-16 230 9.5 2.42
selling price of sugar. The Commission for direct investment (FDI) of up major boost to the infrastruc- now, but we will gain more India.
The decision to increase the 2016-17 230 9.5 2.42 Agriculture Costs and Prices to ~15,000 crore in Fairfax ture and construction sector later. These litigations entail This is an inclusive frame-
FRP of sugarcane was taken at 2017-18 255 9.5 2.68 (CACP) estimated the cost of India’s investment vehicle and also to the airport sector. a cost and our energies get work. You are only looking at
a meeting of the Cabinet production of sugarcane for the Anchorage Infrastructure The investment will consider- diverted fighting them. one pillar. There is a second
Committee on Economic 2018-19 275 10 2.75 sugar season 2021-22 to be ~155 Investment Holding. ably substantiate the govern- pillar, which is the global
Affairs (CCEA) held here. The 2019-20 275 10 2.75 per quintal. This includes transfer of ment’s plan to develop world- Has India asked the French minimum tax. It says com-
FRP of sugarcane in the 2020- 2020-21 285 10 2.85 The FRP of ~290 per quintal shares of Bangalore Interna- class airport and court to defreeze the panies operating in low-tax or
21 season was ~285 per quintal. at a recovery rate of 10 per cent tional Airport Limited (BIAL) transport-related infrastruc- mortgaged assets? no-tax jurisdictions have to
Just like the previous years, 2021-22 290 10 2.90 is higher by 87 per cent over to Anchorage, and an invest- ture through private partner- The undertaking which the pay a minimum tax on an
Note: The sugar season runs from October to September Source: Trade and industry sources
the ~290 per quintal FRP of production cost. ment of ~950 crore in the ship,” said a finance ministry counterparties are to sign will inclusive basis. The kind of
sugarcane will be applicable for every 0.1 per cent Meanwhile, when asked if investment arm of Prem statement. be unconditional, unequiv- tax which will be generated
a basic recovery of 10 per cent. decrease in recovery. That rent sugar season of 2020-21,” the government will increase Watsa-owned Fairfax India by This would also give a push ocal, and unambiguous, say- from the second pillar may
Over the basic recovery rate apart, there will be no deduc- food minister Piyush Goyal the minimum selling price Ontario Inc. Ontario is a to the government’s National ing we are withdrawing all far outweigh what we may be
of 10 per cent, a premium of tion of FRP where recovery is told reporters after a meeting (MSP) for sugar as FRP has wholly owned subsidiary of Monetisation Pipeline that appeals and disengaging losing in the first pillar. As far
~2.90 per quintal will be pro- below 9.5 per cent. of the Cabinet. been raised, Goyal said, “Not OAC, which is the adminis- aims to lease out state-owned from all litigations, whether as the first pillar is concerned,
vided for each 0.1 per cent “Such farmers will get Recovery rate is the amount necessarily.” trator of one of Canada’s infrastructure assets like it is the arbitral panel or the India wants profit allocation
increase in recovery over and ~275.50 per quintal for sugar- of sugar that sugarcane fetches He said the government is largest pension plans roads, railways, airports, enforcement actions. Every in excess of 10 per cent. India
above 10 per cent. cane in the ensuing sugar sea- and higher the quantum of giving a lot of support to OMERS. sports stadiums, power trans- piece of the litigation will be will always want to negotiate
There will be a reduction in son of 2021-22 in place of sugar derived from sugarcane, increase sugar exports and eth- Anchorage Infrastructure mission lines and gas pipe- withdrawn. The legislation the 20-30 per cent to a higher
FRP by ~2.90 per quintal for ~270.75 per quintal in the cur- greater the price it fetches. anol production. Investment Holding is an lines to private operators. says that Cairn and 16 other level.

See fierce competition among private Under-construction NHs to

players for port assets, say experts be leased once operational
ADITI DIVEKAR with expected capex of ~4,680
Mumbai, 25 August THE LINE-UP Estimated
investment (~cr)
Target
award date crore, envisaged to be tendered MEGHA MANCHANDA

With the role of Tariff Authority

Port projects to be Paradip (2 projects) 3,005 Jan ‘22
out in FY23, said the document.
“Under the current market
New Delhi, 25 August THE BIG INFRA PLAN
tendered during FY22 Asset length to be Asset length as Indicative monetisation
for Major Ports (TAMP) diluted JNPT 863 Sep ‘21 conditions and economic sce- The ministry of road transport and value over FY22-25
monetised a percentage
considerably, the asset moneti-
Mumbai 495 Sep ‘21
nario, it would not have been highways will monetise over 6,600
of potential 20% ~1.6 trn
sation plan of ports could see
strong private participation as it Chidambaranar 435 Sep ‘21
easy for the government to fund
capex on its own. There was no
km of highways every year for the
next four years under the recently-
26,700 km asset base
improves clarity on return on Chidambaranar 420 Dec ‘21 other way out but to ask private unveiled National Monetisation
investment. players to invest,” said a Pipeline (NMP). This will be done
“It is a move in the right Mumbai 357 Oct ‘21 Mumbai-based port consultant. after bringing in all existing road proj-
Share in
direction. Private parties would Haldia 332 Mar ‘22 Two projects each at Paradip, ects and upcoming contracts under
overall NMP
have the needed capabilities to Kandla 300 Dec ‘21 Kandla, Mumbai and V.O. one umbrella.
in value
enhance efficiency and improve Chidambaranar port, along with The NMP document states that
productivity. But with the right Visakhapatnam 288 Jan-22 one project each at JNPT, the approach followed by NITI Aayog
terms
pricing environment given to Kolkata 182 Jan ‘22 Mormugao and Vizag, among includes both existing operational 27%
them to do their business, inter- others, are part of the 13 projects National Highway (NH) assets and Source: NMP document
Mormugaon 124 Dec ‘21
est (from private players) is to be tendered in the current fis- new National Highway roads that are
bound to go up,” said Shailesh Kandla 123 Mar ‘22 cal. constructed and operationalised over public-private partnership (PPP) ent expert.
Garg, director-general manager Source: National Monetisation Pipeline document Industry experts are of the the next four years. This is based on mode have been excluded, as tolling The total indicative monetisation
(ports) at Drewry — a maritime view that apart from pure port the list of stretches received from the rights on these assets are retained by value of assets considered for mone-
research consultancy. players (both domestic and ministry coupled with secondary res- the private sector for the respective tisation is estimated at ~1.6 trillion
Under the Major Port Monetisation Pipeline (NMP), the country has. international), industrial houses earch on potential for monetisation concession periods. Experts believe from FY22 to FY25. The asset pipe-
Authorities Act 2021, the board chalked out for various sectors, The total estimated capex could also be interested in the of four-lane roads and other assets. that a mix of brownfield and green- line has been phased out over the
of a port would have the the ministry of port, shipping towards these projects stands at capex plans of upcoming ports. The aggregate length of assets field projects, to be offered under the NMP period to ensure better prepa-
authority to frame its own price and waterways has identified 31 ~14,483 crore between FY22 and “There may be industrial considered for monetisation from NMP, would help in boosting investor redness and improved marketability.
scales in line with market con- projects for private sector par- FY25. Out of the 31 projects, 13, houses that could look to have a FY22 to FY25 aggregates 26,700 km. confidence in the sector. The potential asset base for the roads
ditions, unlike earlier, when it ticipation in order to improve with expected capex of ~6,924 base of captive cargo at the port This is based on the length of already/ “The fact that an investor is keen sector includes aggregate National
had to be approved by the capacity utilisation of existing crore, would be tendered in the and then use the facility for to-be operational, four-lane highways to invest in a future road project Highway road length, estimated at
TAMP. assets. These projects are spread current fiscal. This will be fol- multi-cargo handling,” said and above. Build operate transfer reflects that the health of the about 136,155 km as on December 20,
Under the National over nine major ports of the 12 lowed by another 10 projects, Garg. (BOT) projects awarded under the sector is robust,” said an independ- 2020.
.
NEW DELHI | THURSDAY, 26 AUGUST 2021 5 <

LOTUS EYE HOSPITAL AND

INSTITUTE LIMITED
(Formerly Lotus Eye Care Hospital limited)
CIN: L85110TZ1997PLC007783
Regd.Office: SF No.770/12, Avinashi Road, Civil Aerodrome Post, Coimbatore – 641 014
Tel: 91 0422 4229900. Fax: 91 0422 4229933.
Web: www.lotuseye.org E-mail: [email protected]

NOTICE TO SHAREHOLDERS
NOTICE is hereby given that the 24th Annual General Meeting (“AGM”) of
LOTUS EYE HOSPITAL AND ISNTITUTE LIMITED (“the Company”) will be
held on FRIDAY, the 17th day of September, 2021 at 04:00 P.M. through Video
Conferencing (“VC”)/Other Audio-Visual Means (“OAVM”) to transact the
Ordinary and Special Businesses as set out in the Notice of the Twenty Fourth
AGM, in compliance with applicable provisions of Companies Act, 2013 and
Rules framed thereunder and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (as amended), the Ministry of Corporate
Affairs (“MCA”) issued Circular No. 20/2020 dated 5th May, 2020 to be read
with circular No.14/2020 and Circular No. 17/2020 dated 8th April, 2020 and
13th April, 2020 respectively and also Circular No. SEBI/HO/CFD/
CMD1/CIR/P/2020/79 dated 12th May 2020 issued by Securities Exchange
Board of India (SEBI) (collectively referred as Applicable Circulars), without the
physical presence of the members at the venue.
Subject to Members' approval at their 62nd Annual General Meeting to be held
on Friday, September 17, 2021 at 04.00 p.m. (IST) through Video
Conferencing (“VC”) / Other Audio Visual Means (“OAVM”), a dividend of Rs
0.50 (@ 5% on the face value of equity share ` 10/- each) per equity share,
subject to applicable tax deduction at source shall become payable to
Members as follows:
a. Dividend, in respect of equity shares held in Electronic Form will be payable
to the beneficial owners of shares as on Friday, September 10, 2021 (Record
Date) as per downloads furnished to the Company by Depositories for this
purpose. b. In case of shares held in Physical Form, the dividend will be paid to
Members whose names shall appear on the Registrar of Members as on the
record date.
In compliance with the applicable Circulars, the Notice of the 24th AGM and the
Annual Report of the Company including financial statements for the financial
year 2020-21 along with Board's Report, Auditor's Report and other documents
required to be attached thereto, have been sent through electronic mode to the
members of the Company whose email addresses are registered with the
Company /Depository Participant(s). The requirements of sending physical
th
copies of the Notice of 24 AGM and Annual Report to the Members have been
dispensed vide Applicable Circulars. The Notice of the 24th AGM and the
Annual Report of the Company are also available on the website of the
Company at www.lotuseye.org, on the websites of the Stock Exchanges i.e.
BSE Limited at www.bseindia.com and National Stock Exchange of India
Limited at www.nseindia.com and also on the website of CDSL(agency for
providing the Remote e-Voting facility) i.e. www.cdslindia.com
The Register of Members and Share Transfer Books of the Company will
remain closed from 11th September, 2021 to 17th September, 2021 (both days
inclusive).The voting period begins on 14th September, 2021 10.00 AM (IST)
and ends on 16th September, 2021 05.00 P.M (IST) During this period
shareholders' of the Company, holding shares either in physical form or in
dematerialized form, as on the cut-off date (record date) of 10th September,
2021 may cast their vote electronically.
For any queries/clarifications please contact: Mr. K. Jayakumar, M/s. SKDC
consultants Limited, “Surya”, 35, Mayflower Avenue Behind Senthil Nagar
Sowripalayam Road Coimbatore – 641028., E-Mail: info@skdc-
consultants.com.
By order of the Board
For Lotus Eye Hospital and Institute Limited
Place: Coimbatore (Sd.) Aakanksha Parmar
Date : 25.08.2021 Company Secretary

STEEL AUTHORITY OF INDIA LIMITED

(A Government of India Enterprise)
NOTICE OF 49TH ANNUAL GENERAL MEETING AND E-VOTING
NOTICE is hereby given that the 49th Annual General Meeting (AGM) of Members of Steel Authority of India
Limited (SAIL) will be held on 28th September, 2021 at 1030 Hours(IST) through Video Conferencing (VC)/Other
Audio Visual Means(OAVM) to transact the businesses, as set out in the Notice of the AGM.

KIRLOSKAR ELECTRIC COMPANY LTD., The Ministry of Corporate Affairs vide Circular Nos. 14/2020, 17/2020, 20/2020 and 02/2021 dated April 08,
2020, April 13, 2020, May 05, 2020 and January 13, 2021 respectively, and Securities and Exchange Board of
Registered Office: No. 19, 2nd Main Road, Peenya 1st Stage,
India. Circular Nos. SEBI/HO/CFD/ CMD1/ CIR/P/2020/79 and SEBI/HO/CFD/CMD2/CIR/P/2021/11 dated May
Phase -1, Peenya, Bengaluru – 560 058, 12, 2020 and January 15, 2021 respectively (collectively referred to as “Applicable Circulars”) have permitted
Tel: 080-28397256; Fax: 080-28396727, holding of AGM through VC/OAVM without the presence of Members in person. Accordingly, in compliance with
CIN: L31100KA1946PLC000415, the applicable provisions of Companies Act, 2013 and the Rules there under, read with Applicable Circulars, the
AGM of the Company is being conducted through VC/OAVM provided by M/s. National Securities and Depositories
E mail: [email protected], Limited. Shareholders/Members can attend/participate in the AGM only through VC/OAVM facility, the details of
Website: www.kirloskarelectric.com which are provided in the Notice of the AGM. Therefore, it may be noted that no provision has been made for
Members to attend/participate in the 49th AGM of the Company, in person. Members attending the meeting through
INFORMATION ON E-VOTING, BOOK CLOSURE ETC., FOR THE PURPOSE OF 74TH ANNUAL GENERAL
VC/OAVM shall be counted for the purpose of reckoning quorum under the Companies Act, 2013.
MEETING AND OTHER INFORMATIONS:
As informed earlier, the 74th (Seventy-Fourth) Annual General Meeting ("AGM") of the members of the Kirloskar Pursuant to the Applicable Circulars, the Notice of the AGM and Annual Report of the Company for Financial
Electric Company Limited (“the Company”) will be held on Tuesday, September 21, 2021 at 11:00 A.M. through Video Year ended 31st March, 2021 containing Audited Financial Statements (including Consolidated Financial
Conference ("VC")/ Other Audio Visual Means ("OAVM"), in accordance with the provisions of the Companies Act, Statements) of the Company for the Financial Year ended 31st March, 2021 and the Report of the Auditors’ and
2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. 14/2020 Board thereon, and other documents required to be attached thereto, will be sent through electronic mode only
dated April 08, 2020, Circular No.17/2020 dated April 13, 2020 issued by the Ministry of Corporate Affairs (‘MCA’), to such Shareholders/Members who have registered their email IDs with Depository Participants (DP)/
followed by Circular No. 20/2020 dated May 05, 2020 and Circular No. 02/2021 dated January 13, 2021 (collectively Company/Registrar and Transfer Agent (RTA) of the Company. As per the Applicable Circulars, no physical copies
referred to as “MCA Circulars”) and Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated May 12, 2020 and
of the Notice of the 49th AGM and Annual Report of the Company for the financial year 2020-21 will be sent to
SEBI/HO/CFD/CMD 2/CIR/P/2021/11 dated January 15, 2021 issued by Securities Exchange Board of India
any Shareholder/Member. The Notice and Annual Report will also be available on the website of the Company-
(‘SEBI’), to transact the business set forth in the Notice of the AGM.
www.sail.co.in and websites of Stock Exchanges i.e. National Stock Exchange of India Limited at
In view of the massive outbreak of the COVID-19 pandemic, social distancing is a norm to be followed and In www.nseindia.com and BSE Limited at www.bseindia.com.
compliance with the provisions of the Companies Act, 2013 (“Act”), SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and MCACirculars, the AGM of the Company is being Manner of Registering/Updating Email Addresses:
held through VC / OAVM. Hence, Members can attend and participate in the ensuing AGM through VC/OAVM only.
In accordance with the MCA and SEBI circulars, the Notice of the 74th AGM along with the Annual Report for the (a) Members holding equity shares of the Company in Physical Mode, and who have not registered/updated
financial year 2020-21 are sent electronically to all those members, whose email addresses are registered with the their email addresses, are requested to register/update their email address by writing to M/s. MCS Share
Company / Registrar and share transfer agent/Depositories/Depository Participants. The Notice of the AGM and the Transfer Agent Limited (RTA) with details of Name, Folio Number, email address and attaching a self-
Annual Report is also made available on the website of the Company i.e., www.kirloskarelectric.com and the attested copy of PAN Card, Aadhaar Card and Share Certificate(s) at [email protected]. The
website of Stock Exchanges i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com address of the RTA is: F-65, Okhla Industrial Area, Phase-I, New Delhi-110020. Phone No. 011-
and www.nseindia.com respectively and on the website of CDSL at www.evotingindia.com. 41406149.
Members who would like to express their views/ask questions during the meeting may register themselves as a
speaker by sending their request 7 days prior to meeting mentioning their name, DEMAT account number/folio (b) Members holding equity shares of the Company in Dematerialised Mode, who have not
number, email id, mobile number at [email protected]. Only those shareholders who have registered/updated their email addresses with their DP, are requested to register/update their email
registered themselves as a speaker will be allowed to express their views/ask questions during the meeting. addresses with the DP with whom they maintain their Demat Account.
For the purpose of the AGM, the Register of members and the Share Transfer Books will remain closed from Tuesday,
September 14, 2021 to Tuesday, September 21, 2021 (both days inclusive). Manner of Casting Vote(s) through E-Voting:

In terms of Section 108 of the Companies Act, 2013, read with MCA Circulars, the Company has provided remote e- The Members will be provided remote e-voting facility to enable them to cast their vote electronically on the Items
voting facility to all its members and the members may cast their votes electronically through remote e-voting mentioned in the Notice of the AGM. The facility for e-voting shall also be made available during the AGM for
services provided by Central Depository Services (India) Limited (CDSL). The cutoff date for this purpose is Monday, Members who have not already cast their vote by remote e-voting.
September 13, 2021 and members whose names appear in the register of members or in the register of beneficial
owners maintained by the depositories as on the cut-off date shall be entitled to avail the e-voting services. The e-
The Company has engaged the services of “National Securities Depository Limited (NSDL)” as an Authorised
voting period commences on Friday, September 17, 2021 at 9.00 A.M (IST) and ends on Monday, September 20,
Agency to provide e-voting facility to its Members. The detail instructions of the remote e-voting (before AGM) and
2021 at 5.00 P.M (IST). The e-voting module shall be disabled by CDSL for voting thereafter. Members who have
already cast their vote by remote-voting prior to the meeting date may also attend the meeting but shall not be entitled E-voting (voting during the AGM) are provided in the Notice of the AGM.
to cast their vote again.
The login credentials for casting votes through e-voting shall be made available to the Members through email.
The facility for voting through e-voting shall also be made available during the meeting and members attending the Members who do not receive email or whose email addresses are not registered with the Company/Depository
meeting who have not already cast their vote by remote e-voting shall be able to exercise their right during the Participants, may generate login credentials as per the instructions given in the Notice of the AGM.
meeting. The information for members for remote e-voting / e-voting during AGM and joining meeting through
The same login credentials are also to be used for attending the AGM through VC/OAVM.
VC/OAVM are provided under sub-clause (vi) of clause (r) relating to notes in the Notice of AGM. Once the vote on a
resolution is cast by the member, he shall not be allowed to change it subsequently or cast the vote again.
Members who have not updated their Bank Account details may follow the procedure as under:
Any person who becomes a member of the company after the issue of the notice of the AGM and holding shares as on
the cut-off date is requested to contact company’s RTA, ‘M/s. Integrated Registry Management Services Private (a) Members holding equity shares of the Company in Physical Mode shall submit: (i) Scanned copy of the
Limited’, to get the details relating to his / her user-id and password or for other related issues. Members may call Mr. signed request letter containing Member(s) Name, Folio Number, bank details (Bank Account Number,
Harish K. Assistant Manager, representative of company’s RTA through telephone number +91-80-23460815-818 or Bank and Branch Name & Address, IFSC, MICR details, Cancelled Cheque leaf); (ii) Self-attested copy
send email to [email protected] of the PAN Card; (iii) Self-attested copy of AADHAAR Card or Driving License or Election Identity Card
Pursuant to the provision of section 160 of the Companies Act, 2013 read with rule 13 of Companies (Appointment or Passport in support of address of the member registered with the Company; to the RTA.
and Qualification) Rules, 2014 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the
Company has received a notice in writing from a member proposing candidature of Mr. Suresh Kumar (DIN: (b) Members holding equity shares of the Company in Dematerialised Mode may submit the request letter
02741371) for appointment as Director of the Company. The item relating to his appointment has been included in the with bank details and other documents, as required, to their DP.
Notice of 74th Annual General Meeting of the Company.
Book Closure and Dividend:
Any grievance in respect of e-voting and participation at the AGM may be addressed / reported to the CDSL and/or
NSDL at their respective E-mail IDs at [email protected] or [email protected] with a copy to the Pursuant to Section 91 of the Companies Act, 2013 and the Rules framed thereunder, the Register of Members
undersigned at [email protected]. will be closed from 22nd September, 2021 to 28th September, 2021 (both days inclusive) for the purpose of payment
For quick reference, following are the important dates with regard to 74th Annual General Meeting:- of dividend and AGM for the Financial Year 2020-21. The Final Dividend, if approved by the Members at the
Sl. No Particulars Event Dates AGM, will be paid subject to deduction of Income Tax at Source (TDS) within the stipulated period of 30 days from
From Tuesday, September 14, 2021 to its declaration through electronic mode to those members whose updated Bank account details are available. In
1 Book Closure the event the Company is unable to pay the dividend to any Member directly in the bank account through
Tuesday, September 21, 2021 (both days inclusive).
Cut-off date for determining the eligibility to Monday, September 13, 2021 Electronic Clearing Service or any other means, due to non-registration of the Electronic Bank Mandate, the
2 cast their votes electronically or at the AGM Company shall dispatch the Dividend Warrant/Bankers’ Cheque/Demand Draft to such Members, within the
3 Date and time of commencement of E-voting Friday, September 17, 2021 at 9.00 a.m. (IST) stipulated time..
Shareholders are requested to carefully read the instructions contained in the Notice of the AGM.
4 Date and time of Ending of E-voting Monday, September 20 , 2021 at 5.00 p.m. (IST);
5 Day, date, time and mode of 74th AGM Tuesday, 21st day of September 2021 at 11.00 AM For Steel Authority of India Limited
through Video Conference (VC) / Other Audio Visual Sd/-
Means (OAVM) Place: New Delhi (M.B. Balakrishnan)
By order of the Board of directors Date: 25th August, 2021 Company Secretary
For Kirloskar Electric Company Limited,
Sd/- Registered Office: Ispat Bhawan, Lodi Road, New Delhi 110 003
Place: Bengaluru K S Swapna Latha Tel: +91 11 24367481; Fax: +91 11 24367015
Date: August 25, 2021 Senior General Manager (Legal) & Company Secretary Corporate ldentity Number: L27109DL1973GOI006454, Website: www.sail.co.in
There's a little bit of SAIL in everybody's life
6 ECONOMY & PUBLIC AFFAIRS
>
NEW DELHI | THURSDAY, 26 AUGUST 2021 1

Family pension of bankers NPAs in retail and MSMEs

rise to 7.3% for PSBs in Q1
all set to more than treble
PSBs’ pension contribution for employees under NPS also hiked to 14%, says DFS secy
ABHIJIT LELE
Mumbai, 25 August
ILLUSTRATION: AJAY MOHANTY

UNDER STRESS
Uptick in retail and MSME
Gross non-performing assets NPAs (in %)
ANUP ROY & NIKUNJ OHRI for this hike fully, and the cost will (GNPAs) on retail and MSME loan Private banks PSBs
Mumbai/New Delhi, 25 August have to be calculated now, a banker books of public sector banks rose to

7.28
said. The additional cost, and the 7.28 per cent in June 2021 from about

6.52
5.99
F
amily pensions of deceased resultant provisioning, will have to 6 per cent a year ago.

3.32
2.68
bank employees will more be calculated for each bank sep- The incidence of bad loans was

2.01
than treble now, with arately, he said. lower for private banks with GNPAs
Finance Minister Nirmala IBA officials were not immedi- at 3.32 per cent in June, up from 2.01
Sitharaman removing its cap in ately available for comments. C H per cent year ago, according to CARE
favour of a uniform 30 per cent slab Venkatachalam, general secretary Ratings.
to be calculated on the last salary of All India Bank Employee The current level of NPAs masks Jun ’20 Mar ’21 Jun ’21
drawn by the employee. Association, said the schemes were the pain due to restructuring done Source: CARE Ratings

With this, the family pension agreed upon already and the bank under regulatory packages in 2020
rises from a maximum of ~9,284 employees were awaiting the and this year, bankers said. Reconstruction Company Ltd to pared to the first wave when the RBI
per month to as high as ~35,000, announcement. A defined con- In State Bank of India’s case, it take over bad assets of the banks. allowed a blanket moratorium, there
ILLUSTRATION: AJAY MOHANTY
depending on the last drawn pen- tributory pension fund governs has restructured loans about During Q1FY22, there was the was no blanket moratorium this
sion amount. per cent contribution to the NPS. scheme had slabs of 15-20 and 30 employees who joined banks after ~20,000 crore, of which retail per- second Covid wave, leading to many time, resulting in a spike in slippages
Debasish Panda, secretary, Panda said the pension hikes per cent of the pay that the pen- April 2010. This scheme will benefit sonal loans are about ~9,000 crore states imposing lockdown restric- during the quarter. There was a rise
Department of Financial Services, are in continuation of the 11th sioner drew at that point of time and 60 per cent of public sector and those of SMEs (small and tions. Apart from the impact on eco- in NPAs in the retail and MSME
announced this on Wednesday in bipartite settlement on wages, it was capped at a maximum of employees, Venkatachalam said. medium enterprises) at ~3,630 crore. nomic activities and the income (micro, small, and medium enter-
the presence of the FM. He also which was signed by the IBA and ~9,284. “That was a very paltry sum On account of increase in pen- The regulators and government generation of borrowers, collection prises) segments in public and pri-
announced an increase in pension bank unions on November 11, 2020. and the FM was very concerned… sion contributions by banks under have put in place relief packages to was hit because many lenders, con- vate sector banks.
contributions by banks under the “There was a proposal in it for she wanted it to be revised so that the new pension scheme, Punjab help lenders as well as borrowers cerned over the health of their staff, The rise in slippages and restruc-
National Pension System (NPS). enhancement of the family pen- they get a decent amount to survive National Bank would incur ~10-12 affected due to the lockdown. Some shut branches. Within retail, unse- turing indicates a stress build-up in
Earlier, both the employer and sion and also the employer’s con- and sustain,” Panda said, adding crore per month, a bank official of these measures include a blanket cured portions like personal loans the retail segment after Covid-19,
employee used to contribute 10 per tribution under the NPS. This has that with this, the pension can go to said. For the increase in family moratorium on repayment for six have seen substantial delinquencies. especially after the second wave.
cent each of the basic salary. Now, been approved by the FM and the as high as ~30-35,000 per family. pensions of deceased bank months from March 2020 to August As a result, Q1FY22 witnessed a rise With an absence of a blanket mora-
the employer, or the bank, will con- benefits would now accrue to the The immediate financial impli- employees, the impact would be 2020, the emergency credit line in NPAs, especially in the retail and torium this time around, the banks
tribute 14 per cent, while the family pensioner,” Panda said. cation of this on banks is not yet marginal for PNB as such pen- guarantee scheme for small bor- MSME segments. either had to restructure or take the
employee can continue with a 10 Earlier, the family pension clear. The banks had not provided sioners are less, he added. rowers, and the National Asset The rating agency said as com- slippage on their books.

BrahMos Aerospace seeks Carol Furtado to

be Ujjivan SFB’s
200-acre land in Lucknow interim CEO
AJAI SHUKLA being built around Aligarh.
New Delhi, 25 August Defence manufacturers, includ-
ing several who are still to man- SUBRATA PANDA
For over two decades, the super- ufacture any defence items, have Mumbai, 25 August
sonic BrahMos cruise missile has been attracted to these industrial
been portrayed as a triumph of zones by the promise of allocation Ujjivan Small Finance Bank (SFB) on
Indo-Russian co-development of real estate. Wednesday appointed Carol Furtado as the
and co-manufacture. Even the “11 companies in the Lucknow "officer on special duty (OSD)", with effect from
missile’s name — BrahMos — is node, six in the Jhansi node, and August 26, and said she will also take over as
derived from combining the eight in Kanpur node have interim CEO from September 30.
names of a major river from each requested to provide land (sic) for This comes after the surprise resignation of
country: India’s Brahmaputra and setting up factories. Acting on the managing director (MD) and chief executive
Russia’s Moskva. proposals received from various officer (CEO) Nitin Chugh, who cited personal
Numerous analysts have companies, UPEIDA has so far reasons.
expressed scepticism that India has allotted 55.4 hectares of land in The decision to elevate Furtado was taken
played a role in designing the Aligarh node to 19 international in a meeting of the board of directors on
BrahMos. They say the missile is companies,” announced the UP Wednesday.
based entirely on Russian technol- government on Wednesday. In an exchange notification, the bank has
ogy, while India merely manufac- BrahMos missile,” stated a UP gov- “About four acres of land has said Furtado will handle the day-to-day opera-
tures the missile from blueprints ernment release on Wednesday. been allotted to two companies in tions of the bank and has been authorised to
provided by Russia. More than 100 BrahMos missiles Kanpur node and 15 acres of land exercise such powers as well as perform such
On Wednesday, the Uttar are planned to be built in the next to one company in Jhansi. Whereas functions on behalf of the bank, which was
Pradesh (UP) government, which is three years. in Lucknow node, it has been granted and being exercised by Chugh.
trying to become a defence man- “About 500 engineers and tech- agreed to give 200 acres of land to Her appointment as the interim CEO is,
ufacturing hub, issued a statement nical people will get direct build BrahMos Production Centre,” however, subject to the
that said the BrahMos missile “is employment in the BrahMos said the UP government. Carol Furtado approval of the banking
based on the technology of Russia's Production Centre which will be “In the last three years, over 65 had worked with regulator. Furtado is cur-
P-800 Oniks cruise missile”. built by investing ~300 crore on big companies have requested the foreign banks rently serving as the CEO
Later in the statement, the UP the land to be allotted for making government to provide land in the before joining of Ujjivan Financial
government changed tack, stating: BrahMos missiles at Lucknow Defence Industrial Corridor to set Ujjivan in 2005. Services, the holding
“The missile has been designed, node,” stated the release. up their factories, of which around She was part of company of the bank, a
developed and produced by “Apart from this, about 5,000 19 big companies have been allotted the bank till April post she has to resign
BrahMos Aerospace — a joint ven- people will get indirect employ- 55.4 hectares of land by UPEIDA 2021 as the head from to be appointed as
ture of the Defence Research and ment and 10,000 people will get recently,” the UP government said. of operations the OSD of the bank.
Development Organisation work through the production cen- Land in the UP corridor is being She had worked with
(DRDO) and of NPO tre. The work of setting up the allocated to companies that have foreign banks before
Mashinostroyeniya (NPOM).” BrahMos production centre is little, or no, profile in defence man- joining Ujjivan in 2005. She was part of the bank
This was in the context of a likely to start soon,” said the UP ufacturing, but are promising big till April 2021 as the head of operations. She has
request from BrahMos Aerospace government. investments. previously worked in ANZ Grindlays Bank, Bank
Chief Sudhir Misra to the UP Prime Minister Narendra Modi In the Aligarh node, two of the Muscat S.A.O.G., and Centurion Bank Limited.
Expressways Industrial had announced the creation of two 19 companies which have been Chugh, who was appointed MD & CEO of
Development Authority (UPEIDA) “Defence Manufacturing allotted land are promising to the small finance bank in December 2019,
and UP government seeking 200 Corridors”, one each in UP and invest ~581 crore to make drones. resigned from his position last week, amid a
acre of land for a facility to build Tamil Nadu, during DefExpo 2018 One of them, Anchor Research Lab sharp spike in bad assets of the lender in the
the BrahMos. A delegation from in Chennai. LLP, which has undertaken to quarter gone by.
BrahMos Aerospace also met UP This project got a substantial invest ~550 crore, has been allotted The lender has seen a big churn at the top,
Chief Minister Yogi Adityanath on boost during the DefExpo 2020, 10 hectares of land by UPEIDA. with six board-level resignations and the chief
Tuesday. which was held in Lucknow. Since Another firm, Allan and Alvan, financial officer (CFO). The CFO resigned soon
The current version of the then, the Ministry of Defence which has promised to invest ~30.75 after the first quarter (Q1FY22). The bank has
BrahMos cruise missile is assem- (MoD) has announced that numer- crore, has been allotted eight acres also seen a spate of resignations at the middle
bled at a facility in Hyderabad. But ous defence manufacturers had of land. level and the field staff.
UPEIDA is aiming to manufacture signed memorandum of under- Similarly, land has been allotted Samit Ghosh, non-executive chairman,
the new, improved BrahMos cruise standing (MoU) worth ~50,000 to other little-known firms that are Ujjivan Financial Services, has iterated that the
missile. crore for investment in the corridor. jumping into defence manufactur- portfolio quality of the lender and the high level
“UP may soon start manufactur- Most of these MoUs have been ing, on the strength of a promised of attrition in the last six months are his two
ing the Next-Gen state-of-the-art signed for the defence corridor investment. biggest concerns, which have to be addressed.

Labour of love: e-Shram to finally see light of day

INDIVJAL DHASMANA national toll-free number (14434) will some problems with the software.
New Delhi, 25 August be launched to assist and address Additional Solicitor General
queries of workers seeking registra- Aishwarya Bhati had said the data-
For the first time, the country will tion on the portal, said officials. base is not only a software but also a
have a database of unorganised As part of the process, the workers mechanism where beneficiaries are
workers. The e-Shram portal will be will be issued an e-Shram card con- recognised.
launched by Labour Minister taining a 12-digit unique number. A The government said the National
Bhupender Yadav on Thursday to worker can register using his Aadhaar Informatics Centre had taken over the
integrate social welfare schemes for number and bank account details, project and it would be done in three
these workers in coordination with apart from filling out other necessary to four months.
states and trade unions. details like date of birth, home town, It was alleged that the states had
The government aims to register mobile number, and social category. set up their own portals but had not
all workers in the unorganised sector The whole project is aimed at inte- been able to link with the national
on this portal, said officials. There are grating social security schemes of the portal since the same was not yet
varying estimates on the number of government. ready.
unorganised workers. The details of the workers will also The Code on Social Security, 2020,
According to the Economic Survey be shared by state governments and has for the very first time extended
(2018-19), 93 per cent of the total work- departments. social security benefits like maternity
force in India is in the unorganised The registration of workers on the leave, disability insurance, gratuity,
sector. portal will be coordinated by the According to an estimate, the total health insurance, and old-age protec-
According to an estimate, the total Union labour ministry, state govern- workforce in the country is 450 tion to workers in the country’s
workforce in the country is 450 mil- ments, and trade unions. million. Of this, 93% is in the booming unorganised sector. These
lion. Of this, 93 per cent comes at The labour minister on Tuesday unorganised sector include gig workers, platform
418.5 million. reached out to all trade unions to workers, contract workers, free-
These workers comprise the mobilise support and awareness pension of ~36,000 under the lancers, and home-based workers.
migrant labourers, street vendors, about the portal among workers. Pradhan Mantri Shram Yogi However, the code is yet to be imple-
and domestic workers. The portal will Awareness campaigns would be Mandhan Yojana by just depositing ~2 mented.
also have a database on gig and plat- planned across the country to enable per day. It stipulates the gratuity benefits to
form workers. For this purpose, the nationwide registration of workers. Earlier in June, the Supreme Court fixed-term employees without any
labour minister had launched the Workers in the unorganised sector had questioned the delay in creating a conditions on minimum service. The
logo of the portal on Tuesday. don't get minimum wages. A few national database of unorganised code proposes the creation of a social
From Thursday itself, workers social welfare schemes do cater to workers. security fund for extending these
from the unorganised sector can them currently. For instance, a worker Solicitor General Tushar Mehta benefits to workers in the unorga-
begin registering. The same day, a in the unorganised sector gets a yearly had told the Bench that there were nised sector.
.
NEW DELHI | THURSDAY, 26 AUGUST 2021 TAKE TWO 7 <

Another Indian Australia has lessons for

upGrad, bringing it closer to the unicorn
mark. Explaining the potential advantages
of the China developments, Ronnie
Screwvala, co-founder, says: “There are now

India’s asset recycling plan

two real scale markets in the world (after

‘China syndrome’ China is ruled out). US companies need

Indian companies to deliver the Asian mar-
ket more than Indian companies need US
companies to deliver their home market.
So there is scope for two or three top global
ANDY MUKHERJEE
25 August
ulatory acumen, the Indian programme can introduce their own hard-to-price risks.
could become a transfer of taxpayer-funded Take aviation. After a year-and-a-half of
Beijing’s decision to crack down on its tech edtech companies to come from India. That
is the real opportunity.” The asset recycling craze that got under
assets to a handful of business groups. This Covid-19, India is still enforcing capacity
is a concern because of the rising concen- caps and pricing floors and ceilings on
start-ups has opened a window of opportunity For instance, Byju’s, in which Tiger way in Australia with the 2013 leasing of tration of economic power in everything flights, denying passenger footfall to air-
Global has picked up stakes, completed a Port Kembla and Port Botany near Sydney from transport to telecom. Airports and ports to save some inefficient airlines. Such
for domestic start-ups, but it could close soon too fund raise of $340 million in July this year, is reaching India. So is the fear that handing seaports are the stranglehold of Gautam arbitrariness results from political economy
AJAY MOHANTY which saw it valuation zoom to $16.5 billion, over control of public utilities to a small pri- Adani’s group, which also wants to acquire considerations, which won’t go away in a
leaving Chinese edtech giants such as vate sector will hurt the consumer. Container Corporation of India Ltd, a state- hurry. The likes of Canada Pension Plan In-
Yuanfudao (which in October 2020 had The cash-strapped Indian government owned logistics firm. The wireless carriage vestment Board, Brookfield Asset Manage-
claimed a valuation of $15.5 billion) behind. has identified ~6 trillion ($81 billion) in exist- business, once teeming with a dozen oper- ment, Australia’s Macquarie Group Ltd and
Says Byju Raveendran, co-founder: “We ing revenue-generating assets, which it will ators, has effectively turned into a duopoly, Singaporean sovereign wealth fund GIC
were earlier the largest edtech player out- monetise over four years to fund an ambi- led by Mukesh Ambani, India’s richest man. Pte, as well as local financial bodies are all
side of China. That has changed now”. tious $1.5 trillion pipeline of new infrastruc- Privatisation of a state-owned alumini- likely to bid for public assets on offer, and
But while the action in the edtech space ture. But while New Delhi aims to replicate um maker only causes job-loss anxieties they may even win some, but they may ne-
is visible, the attractiveness of India in rela- the fundraising success overseas, it also among workers. Once control over utilities ver be on a par with entrenched domestic
tion to China, where there is a sense of cau- needs to heed the Australian Competition is out of the government’s business groups and their ability
tion, is clearly visible. What is more inter- and Consumer Commission Chairman Rod hands for years, even There’s already a to sway regulations.
esting is that out of the top 10 deals in Asia Sims’s warning last month: Privatise to decades, the broader public worrying rise in the Then there’s the state’s execu-
Pacific in the June 2021 quarter, according increase the efficiency of the economy, or will worry about higher concentration of tion capability. Frothy equity
to KPMG, three were from India. Together, don’t privatise at all. user charges slapped by economic power in markets, resulting from a mas-
Byju’s, Swiggy and ShareChat rustled up Policy makers in India envisage parting operators of roads, railways, India in everything sive global and local liquidity
$2.8 billion against $3.1 billion by four with revenue-earning operating conces- airports, power grids and from transport to glut, had presented policy mak-
Chinese companies in the same list. sions in exchange for upfront payments or gas pipelines. telecom, and this ers with a golden opportunity to
But domestic PE players say this surge investments. The deals will be structured The other takeaway latest bid could extract great value for assets,
is temporary; in the long term, it will only as “contractual partnerships” with the state from Australia is to let con- intensify the problem excluding Air India. That bus
benefit foreign investment in China as they retaining long-term public ownership. sumers see for themselves may have already left. Startups
put in checks and balances. For one, big However, to maximise their profit over a if they’re getting a fair shake. As the Sydney with no current earnings — and some with
institutional investors or HNIs who put limited time frame, investors would natu- Morning Herald wrote this year, the 2018 perhaps no future profits either — swooped
their money in new PE funds are not for- rally want to raise prices, limit competition sale of 51 per cent of WestConnex, a contro- in on public capital markets and swept the
saking China; they are just taking a pause or cut back on upkeep. Singapore had to versial motorway, limits the network’s “ex- board. The government just kept waiting.
SURAJEET DAS GUPTA until such time as the air is cleared. Says nationalise its suburban trains and sig- posure to freedom of information requests Bureaucratic delays might blight asset
New Delhi, 25 August CAPITAL REALIGNMENT Parth Gandhi, founder of domestic PE com- nalling systems because the main private and budget estimates hearings” besides di- concessions, too. By the time New Delhi
n VC investments in India (in $ billion) pany, Bombay Capital: “We have seen operator had underinvested in mainte- luting “the ability of the state Auditor- starts hawking them, the US Federal Rese-
he Chinese government is imposing nVC investments in China

T
increasing interest from large institutional nance, leading to frequent breakdowns and General to keep the project under scrutiny”. rve could already be tapering its bloated
35.1
severe restrictions on their tech LPs [limited partners or investors] investing stranded, angry passengers. It’s also important to mind the gaps in balance sheet. Emerging-market assets may
companies — whether it is on data 29.4 in Indian GPs [general partners or those Similarly, it’s important to prevent institutional maturity. For an emerging get the short-shrift. More so if it turns out
security, marketing practices or floating an who manage start-ups]. But I have not heard today’s lump-sum gains to the government market, India already has fairly well-estab- that the coronavirus will keep coming back
IPO. Should this be music to the ears of of LPs overtly discuss shifting allocations from becoming a cost tomorrow. In New lished investment trusts and toll-operate- to countries slow to reach universal vaccina-
Indian start-ups and home-grown private 19.4 from China to India.” South Wales, where electricity prices dou- transfer structures. But does it have the tion, or unable to afford repeated boosters.
equity (PE) funds? The reason is simple. Returns on capi- bled in five years after poles and wires were legal and regulatory mechanisms to truly Timing, though, isn’t everything. Find-
Ask Indian start-ups and the answer is 13.3 tal employed in China are far more attrac- privatised, the government had to step in de-risk politically sensitive infrastructure ing the right balance between public and
a resounding “yes”. But ask the domestic tive than in India. Says a top executive of with an Energy Affordability Package to before asking the private sector to put a private interests will determine the success
7.76
PEs whether they see a shift in allocation a leading domestic PE fund: “There is no lower the burden on consumers. The Indian price on it? Even where environmental of a patient asset recycling programme —
of money by their institutional investors 1.38 3.6 3.03 comparison between the return that you taxpayer, struggling under extortionate clearances, land acquisition and construc- not just the amount of money raised this
and high net worth individuals (HNIs) get in China and that in India, both in levies on energy, can’t afford such largesse. tion are in the rear-view mirror and there’s year or next. That’s perhaps the most impor-
from China to India and the answer is a Q2 2020 Q4 2020 Q1 2021 Q2 2021 terms of cash delivered to investors and Without bureaucratic capability and reg- certainty over future traffic, weak regulators tant lesson from Down Under. BLOOMBERG
resounding “no”. 6.3 (60.7)* 9.94 (81.2) 7 (82) 20.42 (51) absolute returns, which is virtually 5X
But caution about investing in China is Share in total VC investments in more in China.”
clearly visible. At the macro-level, the yawn- Asia (includes China) in % Opinion is also divided among domestic
ing gap in PE investments between India *The percentage in bracket is for China, the one outside PE players and start-ups on whether closing
and China has narrowed (see chart). is for India Source: lse report the tap of investments by Chinese tech e-iz- y?kq m|ksx fuxe e;kZfnr
Indian edtech start-ups have been major companies such as Tencent or Alibaba, ¼e-iz- 'kklu dk miØe½
beneficiaries because global funds that had companies but also in Alibaba, ByteDance which have put in over $4 billion in Indian izFke ry] iapkuu Hkou] ekyoh; uxj] Hkksiky
made big bets on Chinese edtech compa- and car-hailing company Didi. start-ups, will have an adverse impact on Qksu ua- % 0755&2673141] 142 (For online help Desk)
nies want to hedge their investments. That No surprise that all three global investors the availability of funds in India. “We are mail ID : [email protected], [email protected]
is because a few weeks ago in a crackdown are pushing their game in India. In the first not seeing Chinese investors getting
on its $100-billion sector, the Chinese gov- week of August, all three of them put money replaced by other global players, except for bZ&fufonk lwpuk Øekad 09&,@2021&22
ernment has decreed that companies offer- in edtech firm Unacademy to raise $440 companies that have reached the size of vf[ky Hkkjrh; fufonk
ing private tutoring and online education million (this round was led by Temasek), going for an IPO,” says a senior executive
cannot go public, raise foreign capital or pushing its valuation to over $3.4 billion. of a domestic PE player. e-iz- y?kq m|ksx fuxe }kjk bZ&izkDs ;ksjesVa fufonk flLVe ds ek/;e ls fuEufyf[kr
make profits if they offer online school cur- Then, SoftBank was back again with its Damera of Eruditus disagrees. Returns mRikn gsrq okf"kZd nj vuqca/k vk/kkj ij] fu;r fnukad dks vijkUg 4-00 cts
ricula. That could put investments of funds partners to invest $650 million in Eruditus, in investing in US GSecs are very low, he rd fufonk,a bZ&iksVZy ij vkeaf=kr gaS %&
such as Tiger Global and Temasek, which which offers executive-level courses, taking says, so there is a lot of liquidity in the mar- S. Tender Name of Product EMD/PG Last Date of
have large exposures in this sector, in trou- the company’s valuation from $700 million ket, and PE funds provide better returns. No. No. Bid Submission
ble. So they say they are looking at upping to $3.2 billion in a year. “Today you will see most global PE fund 1. 21047-A LED TYPE ELECTRICAL 1,00,000/- 15.09.2021
their exposure in India — the second-high- “With China, which is the largest bene- coming up with larger follow-up funds, so FIXTURES AND FITTING
est growth market for edtech. ficiary of FDI, no longer so attractive, global there is no cash problem at all because
2. 21048-A STUDENT TABLE & BENCH 30,00,000/- 15.09.2021
Japanese giant SoftBank has more trou- investors are cautious. That is seriously an Alibaba or Tencent are not investing.” FOR RSK
ble — 44 per cent of the value of its invest- advantage for us and also helps us in getting In other words, the Chinese govern-
ments till March this year came from better valuations,” says Ashwin Damera, ment’s decision to scrutinise its tech com- 3. 21049-A AIR CONDITIONERS DEHU- 1,00,000/- 15.09.2021
MIDIFIER AND AIR PURIFIER
Chinese tech companies. So it has taken a co-founder of Eruditus. panies could well be a short window for
call to stop fresh investments in China for Even Singapore wealth fund Temasek Indian starts-ups to make the best of a uksV % fufonk esa Hkkx ysus gsrq ik=krk] fufonk nLrkost] fufonk vkea=k.k lwpuk]
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mä iksVy Z ij iathdj.k vko';d gSA

‘Teaching cannot be business

e-iz- ek/;e@101740@2021 izca/k lapkyd

as usual once schools reopen’

The shutdown of schools since the start of the Covid-19 pandemic last year has posed serious concerns about work. We are suggesting that
children’s learning as well as their social and mental well-being. Experts are convinced that India’s learning poverty critical components be
(the World Bank definition is children unable to read and understand simple text and numbers by 10), which was at emphasised and taught. So if
an alarming 54.8 per cent pre-pandemic, would have shot up. BIKKRAMA DAULET SINGH, co-managing director of it’s a child in Class 3, it’s critical
the non-profit Central Square Foundation, spoke to Anjuli Bhargava on the educational fallout of the pandemic, the that she can read sentences of
relevance of the National Education Policy (NEP), and how to make Nipun (National Initiative for Proficiency in a certain length or, say, add
Reading with Understanding and Numeracy) work in the present context. Excerpts: numbers. So remediation
classes are centred on those.
By the time Nipun was For this, the teachers have
operationalised last month, to come on board as they are
the base year had altered with simply conditioned to teach
a drastically different grade-level textbooks. One
education scenario. What is can expect a pushback from
the relevance of Nipun and the teachers as has been seen in
NEP in an environment where the past with new innovative
at least two cohorts of learners teaching experiments. So
(grades 1 and 2) have missed only those states that can
out completely after the mobilise teachers around this
Covid-19 pandemic struck? national crisis will succeed.
Nipun, above all, still helps all In short, Nipun can really
states recognise the problem: help the new cohorts coming
what is learning poverty and in but for the existing ones it
why is it important? Half our will help in fits and starts.
children at age 10 cannot read
in Hindi, English or regional Which of the NGO-led
languages. I think Nipun initiatives have really
sends the message that we made a difference?
need to tackle this not-so-triv- The hope with all these is that
ial problem in a mission-ori- Already surveys in the states volunteers who twice a week they switch from civil society
ented manner. we work in are showing that went to the communities and to system-led programmes.
Second, 80-90 per cent of there are large cohorts who took classes, distributed work- Even if the NGO or civil society
state education budgets go cannot recognise the alphabet sheets both physically and organisation does the technical
towards paying salaries. or numbers. We are suggesting through WhatsApp groups. It or ground work, it should have
Programmes that focus on schools “start early and end worked quite well. Uttar the state government’s buy-in.
quality are usually centrally late”. This means that teachers Pradesh is looking to extend I think Rocket Learning, LLF
funded. The ministry has put need to devise a this across the and Saarthi all have strong pro-
aside ~2,700 crore a year for new set of work- state, but through grammes that have demon-
foundational learning over sheets and curricu- teachers since strated some degree of success
the next few years. A robust lum for a grade 3 mobiling so many with engagement levels and
FLN (foundational literacy student that actual- volunteers may not behavioural changes. Whether
and numeracy) programme ly begins with be possible. they can be adopted by the
requires around ~500 per grade 1 level work. state governments at a sys-
child per year (remember you For instance, Tamil BIKKRAMA But the NGO and temic level remains to be seen.
are not paying for the teachers Nadu has taken the DAULET SINGH civil society I do think this should be
through this). bull by the horns by Co-managing director, initiatives can only made into a kind of movement
The big challenge is that it introducing level Central Square show the way. on the lines of a Swachh Bharat
is not status quo. It may work aligned textbooks. Foundation They can’t solve mission — one that exhorts
for the new cohorts in grades 1 It is not giving the problem at a teachers and nudges them to
and 2 but what happens to the teachers a choice, but chang- systemic level in a country ensure they don’t leave large
children at the primary level ing the textbook itself. with such scale. cohorts of children behind. The
who have lost two years of Second, the pandemic has Yes, teachers at a macro level pandemic has posed a very real
learning? We’ve been trying to demonstrated that home need to teach material that is threat of a lost generation of
drive home the point that a 60- learning can actually help rolled back by two years. It learners. If this can be priori-
90-day remediation is not bridge the gap. The Language cannot be business as usual tised at the prime ministerial
going to work. You can’t and Learning foundation (LLF) once schools reopen. The level, it would grab national
crunch two years of learning in Kurukshetra, Haryana, teacher needs to alter behav- attention and minimise some
into two or three months. called “har ghar school” used iour and do flexible, iterative of the losses.
8 WORLD
>
NEW DELHI | THURSDAY, 26 AUGUST 2021

IN BRIEF Taliban agrees to let Afghans Booster shot of

US Senate’s tax plan
boosts penalty on
leave after August 31 deadline vax stimulates
sending profit abroad WORLD BANK PAUSES $940-MN CHINA, KABUL ESTABLISH 1ST nine-fold rise in
American firms would face
steeper penalties for shift-
DISBURSEMENTS TO NATION
AGENCIES
CONTACT UNDER TALIBAN REGIME antibodies: J&J
ing profits abroad in a plan 25 August RILEY GRIFFIN
from Senate Democrats 25 August

N
that offers the clearest pic- ews agency AFP reported on
ture yet of the higher levies Wednesday that the Taliban has Johnson & Johnson said a
that big firms could be pay- agreed to let Afghanistan booster of its Covid-19 vac-
ing from next year. nationals be evacuated from the country cine provided a rapid and
In draft legislation after the August 31 deadline. The news strong increase in antibodies,
released Wednesday, agency cited Germany’s ambassador to supporting use of a second
Senate Finance Committee Afghanistan while making the statement. shot among people who pre-
Chairman Ron Wyden is Markus Potzel said on Twitter he had viously received its single-
outlining his vision for how statement on the legisla- met with Taliban deputy chief negotiator dose immunization.
to reform the global tax sys- tion, which was co- Sher Mohammad Abbas Stanikzai, who A second dose of the J&J
tem for multinational cor- authored by fellow Finance had “assured me that Afghans with legal vaccine led to a nine-fold
porations, which Committee members documents will continue to have the increase in Covid-fighting
Democrats say have been Sherrod Brown and Mark opportunity to travel on commercial antibodies compared with the
subject to lax rules that for Warner. Increased corpo- flights after 31 August”. levels participants had 28 days
decades have allowed them rate-tax levies will “fund Britain on Wednesday warned the after getting their first shot, the Moderna seeks full
to shift profits and jobs out- critical investments like the Taliban against attempts to coercively health care giant said US approval for its
side the US. paid leave and the seal off Afghanistan from the rest of the Wednesday, citing interim
“Overhauling the inter- expanded child tax credit— world and urged the militant group to data from an early-stage trial. Covid-19 vaccine
national tax code is central Social Security for our chil- keep its borders open. Afghan nationals protest outside the United Nations High Commissioner for Refugees Trial participants were Moderna said it had
to our efforts to restore fair- dren” Democrats are plan- Meanwhile, China has established office to urge the international community for help, in New Delhi PHOTO: REUTERS given the booster six months completed the application
ness,” Wyden said in a ning, he said. BLOOMBERG its first diplomatic contact with the after the first shot, according process for full approval of its
Taliban in Kabul after the militant group to J&J. Significant increases Covid-19 vaccine in the US,

Xiaomi revenue surges 64%;

took control of Afghanistan and the two
sides now have “unimpeded and effec-
tive communication”, a Chinese official
Putin, Xi agree to step up efforts in antibody responses were
seen in subjects ages 18 to 55
years old, and among those
putting the company on
course to obtain the second
such clearance from federal
buys self-driving start-up said on Wednesday.
The Taliban seized power in
to combat Afghanistan threats 65 or older who were given a
lower dose of the booster. The
regulators. Moderna’s shares
jumped 2.5 per cent in New
Smartphone maker Xiaomi Corp's second-quarter revenue Afghanistan on August 15, two weeks Russian President Vladimir Putin and Chinese President Xi Jinping agreed in a phone data are being submitted to a York trading. BLOOMBERG
rose a record 64 per cent from a year earlier, it said on before the US was set to complete its call on Wednesday to step up efforts to combat the threats of "terrorism" and drug preprint medical publication,
Wednesday, announcing the purchase of an autonomous troop withdrawal after a costly two-dec- trafficking from Afghanistan, the Kremlin said.The two leaders said it was important MedRxiv.
driving startup as it prepares to expand into the ade war. to prevent instability spilling into neighbouring countries from Afghanistan, the The latest findings, cou- EU may reimpose
competitive market. Sales reached 87.8 billion yuan ($13.56 “China and the Afghan Taliban have Kremlin said in a readout of the call. Meanwhile, Russia is preparing to evacuate pled with data showing the Covid-related
billion), up from 53.54 billion a year earlier and beating unimpeded and effective communica- more than 500 people on four military planes from Afghanistan - its first airlift single shot’s durability
analyst expectations of 84.53 billion yuan. Net income tion and consultation,” Chinese Foreign operation since evacuations from Kabul began. The Defense Ministry said through at least eight travel curbs on US
reached 6.32 billion yuan, up 87.4 per cent year-on-year Ministry spokesman Wang Wenbin told Wednesday that it will airlift the nationals of Russia, Belarus, Kyrgyzstan, Tajikistan, months, underscore a future The European Union will
and above analyst expectations. US sanctions against a media briefing here when asked about Uzbekistan and Ukraine from Kabul. Teams of medical workers will be present on booster strategy, said Mathai discuss on Thursday
Xiaomi's rival Huawei effectively crippled the tech giant's the talks between the deputy head of the each plane, the ministry said, should any of the evacuees require medical attention. Mammen, global head of whether to reintroduce
smartphone division and has allowed Xiaomi to grow its Taliban's political office Abdul Salam The evacuations will be carried out upon orders of Russian President Vladimir Putin, research and development travel restrictions on visitors
market shares. REUTERS Hanafi and Chinese Ambassador to the ministry noted. AGENCIES for J&J’s pharmaceutical sub- from the US as Covid cases
Afghanistan Wang Yu in Kabul. sidiary Janssen. soar. Slovenia, which holds
“Kabul is naturally an important plat- “We look forward to dis- the rotating presidency of
FB considers building NFT form and channel for us to discuss key
issues," Wang said, without disclosing
a constructive role in the peace and
reconstruction of the country,” he said.
the US and its allies, China which had
hosted a Taliban delegation headed by
cussing with public health
officials a potential strategy
the EU and is currently
responsible for triggering an
features with digital wallet the details.
"China respects the Afghan people's
China along with Pakistan and
Russia kept its embassy open in Kabul
Mullah Abdul Ghani Baradar last month
remained calm and called for an inclu-
for our Johnson & Johnson
Covid-19 vaccine, boosting
assessment. BLOOMBERG

Facebook is considering building products and features independent decision on their own while India, the US and other countries sive government in Kabul. eight months or longer after
related to nonfungible tokens, or NFTs, the digital assets that future and destiny, supports the imple- closed down their diplomatic missions Meanwhile, the World Bank has the primary single-dose vac- Health experts around
have taken off with the rise of blockchain technology. “We’re mentation of the Afghan-led and after the Taliban took control of Kabul paused $940-million disbursements to cination,” Mammen said in a the world are engaged in a
definitely looking at the number of ways to get involved in Afghan-owned principle, and stands on August 15. its projects in Afghanistan, citing con- statement. debate about when Covid-19
the space because we think we’re in a really good position to ready to continue to develop good-neigh- Since the Taliban entry into Kabul cern about the Taliban government’s The shares were little vaccine booster shots will be
do so,” Facebook executive David Marcus said Tuesday in an bourly relations of friendship and which had caught the world by surprise impact on development prospects, par- changed at $175.24 as of 9:37 needed, and who should get
interview on Bloomberg Television. Marcus leads F2, or cooperation with Afghanistan and play resulting in large-scale evacuations by ticularly for women. am in New York. them first. BLOOMBERG
Facebook Financial, the internal group developing the
company’s Novi digital wallet. That wallet could be used to
hold NFTs, he said. “When you have a good crypto wallet like
Novi will be, you also have to think about how to help
consumers support NFTs,” he added. BLOOMBERG
SEC warns ‘clock is ticking’ on delisting Chinese stocks
Serena pulls out of US Open, ROBERT SCHMIDT & BEN BAIN
25 August US agrees to give Huawei Nasdaq Golden Dragon’s
The SEC was drawn into the con-
flict last year when lawmakers
citing torn hamstring Securities and Exchange
licences to buy auto chips rebound brings hope passed legislation calling for the
agency to close loopholes that have
Serena Williams added herself to the list of big-name Commission Chair Gary Gensler has US officials have approved license An unprecedented plunge in the allowed Chinese companies to
withdrawals from the US Open on Wednesday, pulling a warning for hundreds of Chinese applications worth hundreds of Nasdaq Golden Dragon China Index is shield their books from US inspec-
out of the year's last Grand Slam tournament because companies that have raised billions millions of dollars for China's opening up the possibility of a tors.
of a torn hamstring. Williams hasn't competed since of dollars in US markets: Submit to blacklisted telecom company Huawei rebound for the bravest China bulls. More than 50 other countries
injuring her right leg in the first set of her first-round more scrutiny soon or get kicked out. to buy chips for its growing auto China’s regulatory crackdown sent the permit the reviews of audits, which
match at Wimbledon in late June. The American, who In a Tuesday interview, he component business, two people 98-member gauge down 46 per cent are conducted by the US’ Public
turns 40 next month, announced her decision to sit pledged to strictly enforce a three- familiar with the matter said. Huawei, in the past six months. The depth of Company Accounting Oversight
out the U.S. Open via a social media post. She joins year deadline that requires Chinese has been hobbled by trade restrictions the decline raises the possibility that Board. China has refused, citing
Roger Federer and Rafael Nadal in sitting out the firms to permit inspections of their imposed by the Trump administration bad news has been priced in, creating strict confidentiality laws and
competition in Flushing Meadows, where play begins financial audits. If businesses refuse, on the sale of chips and other the potential for a turnaround. The national security concerns.
next Monday. AP/PTI their shares could be delisted from components used in its network gear index jumped 8 per cent on Tuesday, There are now 281 Chinese com-
the New York Stock Exchange and and smartphones businesses. REUTERS rising for a third day. BLOOMBERG panies listed in the US, as well as
Nasdaq as soon as 2024. another 110 based in Hong Kong,
Sultan Mahmood takes “The path is clear,” Gensler said.
“The clock is ticking.” have festered for almost two decades, the US, including those that already naled it would continue as long as
where American inspectors are also
denied full access to financial data.
oath as president of PoK The tough stance would seem to
squash the hopes of some on Wall
have come to the fore in recent
months as the Chinese government
trade in New York. Investors need
“full and fair” disclosure, Gensler
companies disclosures aren’t adequ-
ate. It could last “three weeks or three
That includes Alibaba Group
Holding and Baidu, large firms that
Seteran politician Sultan Mahmood on Wednesday took Street that Gensler might drag his reined in prominent companies that said, adding that the agency was months,” he said. “It is really up to are owned by many individual
oath as the new president of Pakistan-occupied Kashmir feet in implementing the mandate trade on American exchanges, caus- looking especially for information on the issuers” and their lawyers and investors and widely held emerging
(PoK). Mahmood became the 28th president of the region from Congress and give Beijing more ing massive drops in their share “regulatory risks, the various political accountants. market mutual funds.
after he was elected by the legislative assembly on August time to strike a deal with Washington prices and rattling investors. The risks” that companies in China could Tensions between the US and The turmoil surrounding the
17. He was nominated for the top post by Pakistan regulators that allows the gravy train actions prompted the SEC last month encounter. Those enhanced disclo- China have flared in recent years, July initial offering of Didi Global
Tehreek-e-Insaf (PTI) which won the election held on July of Chinese stock sales to continue. to suspend new initial public offer- sures are likely to come by next year, fueled by the Trump administra- has also raised questions about the
25. He had secured 34 votes against his rival joint They’ve been lucrative for big banks, ings of China-based companies until Gensler said. He declined to say what tion’s trade policies and its efforts to SEC’s role in signing off on IPOs that
opposition candidate Mian Abdul Waheed, who got 16 exchanges and asset managers. they more clearly detail the potential consequences firms would face for blame the country for the coronavi- can quickly turn into disastrous
votes. He succeeded Sardar Masood Khan whose tenure In his comments, Gensler laid out pitfalls that shareholders face. On not complying. rus pandemic. Still, Washington’s ire investments, especially for unso-
ended on August 24. Mahmood also served as the prime how he plans to deal with a multitude Tuesday, Gensler said he expects the with Beijing is not a partisan issue phisticated traders. Gensler
minister of PoK between July 1996 – July 2001. He is the of tricky investor protection issues same level of transparency from IPO pause and President Joe Biden has mostly declined to comment on any spe-
PTI's regional president. PTI involving China. The conflicts, which every Chinese firm that sells stock in As for the IPO pause, Gensler sig- kept a similar posture. cific companies. BLOOMBERG

Country now comes before profit for tech giants in Xi Jinping’s China
COCO LIU
President Xi Jinping has
Xi’s political ideology to be
25 August
increasingly emphasised the idea
China’s biggest companies are starting to make a of “common prosperity” as the
habit out of giving away their earnings. Communist Party tries to address
In the latest example, Pinduoduo, an e-
commerce company known for giving big
discounts to customers when they buy produce
the country’s wealth gap.
Regulators are forcing most
private education companies to
part of curriculum in China
together, said it will donate all of its first net convert into non-profits, while PRESS TRUST OF INDIA Zhen, a member of the National Textbook
profit since going public to support the country’s they’ve pushed other tech players Beijing, 25 August Committee said. According to the new
farmers and agricultural areas. The company will to boost pay for low-skill workers curriculum, the primary schools will focus on
keep giving away earnings at least until the at the expense of earnings. PDD’s China will introduce President Xi Jinping's cultivating the love for the country, the CPC and
donations reach 10 billion yuan ($1.5 billion). decision squarely targets one of political ideology in its national curriculum for socialism. In middle schools, the focus will be
“Improving agriculture has been at the front Xi’s top priorities: alleviating schools and colleges, in the latest effort to on a combination of perceptual experience
and center of our business from the very rural poverty consolidate the ruling Communist Party's grip and knowledge study, to help students form
beginning. Agriculture touches the daily lives of on power for the future. basic political judgments and
everyone and has a relatively low digitization “Xi Jinping Thought on Socialism opinions. In colleges, there will be
rate,” Chief Executive Officer Chen Lei told country’s wealth gap. Regulators are forcing most opportunities in a blue ocean, though profit with Chinese Characteristics for a more emphasis on the
analysts on a post-results call. “We want to bring private education companies to convert into non- margin may be pressured again by these New Era” will be incorporated into establishment of theoretical
even more farmers on board and work with them profits, while they’ve pushed other tech players to investments,” analysts at China International China's textbooks for students at all thinking, state-run Global Times
to improve their lives and livelihood.” boost pay for low-skill workers at the expense of Capital Corp. wrote in a research note. “We levels, the country's Ministry of reported.
PDD’s announcement comes after a series of earnings. PDD’s decision squarely targets one of expect 2H21 non-GAAP profit to break even, Education announced on Tuesday. Billed as the most powerful
similar contributions from the country’s biggest Xi’s top priorities: alleviating rural poverty. reflecting all the profits will be invested in the The guideline, issued by the leader after the CPC's founder Mao
companies and wealthiest people. Tencent In the U.S., companies used to make initiative.” Prominent Chinese economists have National Textbook Committee, said Zedong, Xi is widely expected to
Holdings , China’s most valuable company, said charitable contributions out of corporate profits, moved to ease fears that the country’s push for textbooks reflect the will of the continue in power for an
last week it will double the amount of money it’s but the practice declined after criticism that “common prosperity” will lead to aggressive Communist Party of China (CPC) and the nation unprecedented third term beginning late next
allocating for social responsibility programs to CEOs were using shareholder money for their policies that seize money from the rich in order and directly impact the direction and quality of year. Xi, 68, who heads the CPC, the military
about $15 billion. PDD co-founder Colin Huang own glory. Investors had no such qualms about to close a yawning wealth gap. “Robbing the rich talent cultivation, state-run China Daily and Presidency will be completing his second
had earlier pledged to personally bankroll PDD’s pledge. Shares soared 22 per cent in US to give to the poor” would only result in reported on Wednesday. five-year term as head of the party next year.
research into sciences. trading after the company unveiled the news and “common poverty,” said Zhang Jun, dean of the The ideology will be integrated into the But unlike his predecessors, he is
President Xi Jinping has increasingly a surprise profit for the quarter. School of Economics at Fudan University in curriculum covering basic, vocational and expected to buck the mandatory retirement
emphasized the idea of “common prosperity” as “The move shows the company’s willingness Shanghai, in an interview with The Paper on various subjects of higher education, Han rule of two terms.
the Communist Party tries to address the to take social responsibility and explore new Tuesday. BLOOMBERG
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OPINION 9
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ILLUSTRATION: BINAY SINHA

Volume XXVII Number 248
NEW DELHI | THURSDAY,26 AUGUST 2021

Caste politics Despite my efforts, no interest was shown by the

Indian government to research the engineering nug-
gets of wisdom buried in the British Library. There
A census of this kind isn’t good for the country are innumerable valuables and papers of historical

T
he rising clamour for a caste census across the political spectrum, including interest stored in public and private collections in
some influential leaders of the Bharatiya Janata Party, suggests that it other parts of the UK, including Scotland.
may be an inevitability. Prime Minister Narendra Modi met leaders of 10 Invaders by land and sea from India’s North-West
and West respectively with misplaced zeal against
political parties earlier this week, though the government’s views on the
idolatry have had many works of Indian art defaced
issue are not known as yet. Supporters of the proposal see a strong case for a caste
or destroyed. In Sarnath, visitors can see the noses
census that updates the last one that was conducted in 1931, when India was under and faces of most of the stone carvings chipped away
colonial rule, given that affirmative action in government jobs and educational or mutilated. Another sampling of disfigurement of
institutions, the bedrock of the post-Independence policy for equality and social sculptures can be seen in the Elephanta caves

Indian treasures at
justice, centres on caste. Viewed from that angle, more clarity on the caste compo- located 11 kilometres off the coast from Mumbai.
sition of present-day Indian society may enable better and less controversial deci- These caves date back to about the 5th century AD
sion-making as far as designing social policies are concerned. and one Shiva statue is 7 metres tall. Many exquisite
But this seemingly straightforward logic masks the complexities and possible art pieces in temples and palaces in South India
were systematically taken out of India and in the

home and abroad

deleterious political consequences of the exercise. The first impediment is a practical
one. The format and software for the much-delayed decadal census are already in North invader-rulers often plundered or defaced
works of high artistic merit. A number of imposing
place, so introducing a new element may delay it further, which India cannot afford.
structures of considerable engineering excellence
The second is that reasonably accurate information on caste equations is more or and works of aesthetic significance were damaged
less accessible through other government data gathering exercises, such as those
done by the National Sample Survey Office (NSSO). Admittedly, the NSSO data is Historically significant sites, artefacts and papers in India and the or destroyed in internecine warfare in India. For
example, the ruins of palaces and temples of the
survey-based, unlike the census which is an enumeration of every person in the
country, but there has been nothing to show that it differs widely from the actual
UK should be made accessible to wider audiences magnificent and sprawling Vijayanagar empire (1336
to 1646) can be seen at Hampi in Karnataka.

I
position on the ground. Caste data in the NSSO, for example, has been known to n the first week of August 2021 there were media 2nd century BC to the 15th century. An exquisite Many Indians cannot afford to visit the UK or even
hew closely to assumptions made by the Mandal commission report of 1980, which reports that the National Gallery of Australia Shiva Nataraja sculpture in the V&A is made of a historically important sites within India and are inad-
remains the foundation of India’s reservation policy to date. located in Canberra had decided to return 14 copper alloy and listed as a 12th century piece from equately informed about their own artistic and engi-
The biggest reason for steering clear of a caste census, however, has to do with ancient Indian paintings and sculptures, including a Tamil Nadu. This piece was “donated” in 1935 by neering heritage. The prospects of the Indian gov-
12th century sculpture of a dancing child-saint called Lord Ampthill who was the Governor of Madras from ernment being able to persuade British museums to
the fault-lines embedded within Indian caste politics. In any case, partisan political
Sambandar. These pieces were smuggled out of India 1900-1906. Another representative piece on display return objects sourced from India are negligible. As
gains should not be the motivation for a fresh census, which will only serve to by a former New York art dealer called Subhash at the V&A, which was part of treasures excavated at for inter-museum loans across continents, these take
encourage casteism. There are two issues here: Complexity and the overlap with Kapoor. The full details about all the treasures, includ- Coimbatore, dates back to the 15th century. This item place rarely because of the challenges of safe trans-
socio-economic data. It has been argued that collecting data for other backward ing the peacock throne of Mughal kings, looted from was “bequeathed” to the V&A in 1927 by Lord Curzon, portation and exorbitantly high insurance costs. Even
classes or OBCs should not be a problem since the census already gathers data on Delhi in March 1739 by Nadir Shah of Persia, may never Viceroy of India from 1898-1905. During my visits to today in many sought-after English medium schools
scheduled castes (SCs) and scheduled tribes (STs). But that is merely an enumer- be available. Comparatively, there is better accounting the V&A between 2012 and 2013, I remember admir- in India, the history curriculum usually covers only
ation. For OBCs, the issue is complicated by the fact that the issue of class also of Indian art and other valuables ing several near thousand-year-old the British colonial and Mughal periods.
comes into play. Unlike SCs and STs, OBCs who belong to the “creamy layer” — an acquired by the likes of Robert Clive pieces “gifted” by comparatively Consequently, many in Indian decision-making cir-
appellation that chiefly focuses on income limits — remain outside the purview of of the East India Company and sub- junior Deputy Commissioner level cles continue to have only a nodding acquaintance
reservation policy. sequently between 1858 and 1947 by Indian Civil Service officers. with the country’s history and little knowledge about
The overlap of caste and class in the case of OBCs has created its own tensions India-based British government The Royal Geographical Society, the “The wonder that was India” —to use the title of
administrators. located again in London, has price- A L Basham’s 1954 book.
within India with entitlement politics growing in intensity as the government has
Robert Clive, credited with craft- less drawings of India’s east and west An affordable corrective would be for the Indian
receded from the job market since economic reforms —with the Marathas, Patels ing East India Company’s victory coasts. These were done by sur- government to push for a 10-part, one-hour each
and Jats demanding reservations on socio-economic grounds. The real play lies in over Nawab Siraj ud-Daulah in June veyors on board British ships going documentary series, with three-dimensional holo-
the connection between reservation policy and its impact on myriad sub-castes — 1757, took back many objects of high up and down the east and west graphic images of historically significant Indian
over 2,000 of them— within the OBC category, which offers politicians scope to artistic and monetary value. His coasts of the Indian peninsula in the sites, valuables, maps and documents, including
fine-tune their politics to address specific sub-castes. The Modi government had son Edward Clive, who was 17th and 18th centuries. Separately, those held in the UK and elsewhere in the world.
set up a commission to categorise these castes and split reservations among them appointed governor of Madras in JAIMINI BHAGWATI the British Library in London holds Such an initiative should preferably be entrusted to
in a specific proportion. The socially explosive potential of the findings of this com- 1798, also sent back possessions archives and records of the East a collaborative private sector effort, including mar-
mission — extended several times since 2017 — underlines the need to avoid a acquired during his stay in India. These invaluable India company (1600-1858), the Board of quee names such as Infosys, the Tata group and
caste census at this juncture. In any case, for a country that aspires to be a significant items are now available for viewing in the Powis Commissioners for the Affairs of India (1784-1858) and Reliance Industries. This cooperative effort could
Castle in Wales, which came under the care of the the India Office (1858-1947). It is likely that the most involve the British Council and the Metropolitan
21st century power, caste should become a thing of the past in society and politics.
United Kingdom’s National Trust in 1952. The exqui- sensitive of these papers are not available to the public. Museum of Art in New York. The documentaries
site items in the Powis Castle collection date back In my visits to the British Library, I was struck by the should be in English plus dubbed in all Indian lan-
mostly to 1600-1830s and include statues, ivory, jew- wealth of written record on the deliberations among guages and if done imaginatively, would be of

On the right track ellery and ceremonial armour. the East India Company Military Board members
Many precious works of art and sculpture carried about roads, buildings and irrigation works and later
away during the period of British colonial rule over within the Central Public Works Department. These
immense interest within India and abroad.

[email protected]. The writer is former Indian

India has done well to ratify the Montreal accord amendment India are exhibited in the Victoria and Albert include engineering and funding details for bridges Ambassador, Head Corporate Finance World Bank, and
Museum (V&A) in London. The India section of the on the Grand Trunk Road to Peshawar and digging of currently Distinguished Fellow at Centre for Social and

T
he government’s decision to ratify the amendment to the Montreal V&A houses thousands of art objects dating from the Upper Ganges Canal close to Roorkee in 1842. Economic Progress
accord on phasing out ozone-depleting and environmentally-injurious
substances used in the refrigeration industry has come at an opportune
time. It precedes the United Nations 26th summit (COP 26) on climate
change to be held in November at Glasgow (UK). This move, moreover, conforms
to the assurance given recently by India to the UK, the host and chair of the COP Time to reassess monetary policy positions
26, to play an active and constructive role in the forthcoming meet. India is

E
conomic activity has recovered swiftly with been compared with war, economists at Goldman complications. Contrary to general expectation, on
among the few countries which are on course to hit their targets under the Paris the decline in Covid-19 cases. Activity tracked Sachs in a recent study used data starting from the average, inflation has remained significantly above
accord on mitigating global warming. by the Nomura India Business Resumption 1300s to show how inflation and bond yields reacted the target of 4 per cent since the outbreak of the
India has been a party to the adoption of the amendment to the Montreal Index, for instance, recently crossed the pre-pan- after the 12 biggest wars and epidemics. The sample pandemic. Even with weak aggregate demand con-
Protocol at Kigali (Rwanda) in 2016 that called for gradual elimination of the demic level for the first time. Although the pan- included France, Germany, the Netherlands, Italy, ditions, sustained higher prices could affect the cen-
hazardous chemicals commonly used as cooling agents. These substances mostly demic risk has not completely abated, particularly Spain, the UK, the US, and Japan. Predictably, wars tral bank’s credibility. In a 2020 World Bank paper
fall in the category of hydro-fluorocarbons (HFCs) which are injurious to the given the level of vaccination, it is perhaps time to resulted in higher inflation and bond yields. (“Inflation Targeting in India: An Interim
earth’s ozone layer that protects it from the harmful ultra-violet radiation coming start rolling back the emergency response to the cri- Inflation, however, remained weak during the pan- Assessment”), economist Barry Eichengreen and
from the sun. Though HFCs were introduced as non-ozone depleting alternatives sis. In its latest review, the Monetary Policy demics. The median inflation fluctuated close to others, for instance, noted: “... even if the shock is
to the relatively more hazardous Hydro-chlorofluorocarbons (HCFCs), the objec- Committee (MPC) left the policy rate unchanged zero for nine years after the pandemic ended. transient, there is the danger that allowing inflation
with the assurance to keep the stance accommo- Another study of European countries by economists to stray above the top of the target range may un-
tive was not fully served as they were found to emit highly potent greenhouse
dative as long as necessary. at the central bank of the Netherlands arrived at anchor inflation expectations. Agents may see cur-
gases (GHGs). The aim now is to replace all these chemicals with safer substitutes. Some difference of opinion, however, is begin- similar results. The trend rate fell significantly below rent inflation above target as evidence that the cen-
A national strategy to discontinue the use of HFCs is proposed to be crafted ning to emerge in the rate-setting the initial level for about a decade. tral bank has lost control of the inflation process...if
by 2023 in consultation with the various stakeholders. Indications are that this committee. External member It took about two decades for trend monetary policy lacks credibility, the costs of mone-
would involve a four-phased cutback schedule aimed at a cumulative reduction Jayanth Varma, for instance, argued inflation to revert to the pre-pan- tary accommodation of the shock will be greater.”
of 10 per cent by 2032, 20 per cent by 2037, 30 per cent by 2042 and 85 per cent that monetary policy is less effective demic level. Historically, pandemics It is nobody’s case that the MPC should start
by 2047— in line with the target of eliminating them by the late 2040s. in providing targeted relief and have had a significant impact on increasing policy rates. However, additional policy
Incidentally, the local refrigeration industry, which had earlier been demanding appears to be stimulating asset price economic activity and prices. accommodation pushed by the RBI outside the MPC’s
financial and technical assistance from the developed countries, now seems inflation. The inflation rate, based However, medium-term out- remit should now be reviewed. RBI reduced the
ready to fend for itself with indigenous research and development (R&D) effort. on the consumer price index, has comes could be very different this reverse repo rate disproportionately in March 2020
also surprised the MPC on the time for a variety of reasons. First, to broaden the policy corridor and flooded the system
In fact, they feel that the local evolution and manufacture of new substances
upside. Even a minor deviation on the overall global policy response with liquidity which pushed market rates even lower.
would generate additional employment and income opportunities within the the upside from the projected rate has been truly unprecedented. Interestingly, Prof Varma has argued in favour of nor-
country. Besides, the locally fabricated products would be ideally suited to of 5.7 per cent for the current year According to one estimate, central malising the policy corridor, though the MPC cannot
local conditions. could take the average inflation to REAL TERMS banks have been pumping over $800 change the reverse repo rate. The 2020-21 edition of
Significantly, the elimination of HFCs at the global level is estimated to stave over 6 per cent for the second con- RAJESH KUMAR million per hour into the system over the Report on Currency and Finance argued that deci-
off GHG emissions equivalent to around 105 million tonnes of carbon dioxide. secutive year. As Prof Varma noted, the last 18 months, and it is likely to sions related to a change in the reverse repo and mar-
More importantly, it would help avoid up to 0.5 degrees Celsius rise in tempera- a perception that MPC is exclusively continue in the near term. Second, ginal standing facility rate, and their announcement
ture by the end of this century even while allowing the ozone layer to repair focused on growth can increase the risk of dis- vaccines have been made available in record time be shifted out of the MPC resolution.
itself. This process has, in fact, already begun thanks to the Montreal pact, which anchoring inflation expectation. The Reserve Bank and would enable an early return to normalcy. Third, On the contrary, though it would require amend-
has proved, by far, the most successful of all the climate-related global treaties. of India (RBI) is of the view that higher inflation is technology facilitated better understanding of the ing the law, the decision to change the entire policy
transitory and driven by supply-side factors. It is pandemic and has helped minimise risk in the corridor should be brought under the remit of the
For India, the notable gain would be the opening of the door for indigenous pro-
correct that demand is still weak, but persistent resumption of activity, except in some sectors. MPC and the RBI should target to keep the weighted
duction of equipment as well as cooling agents, which are non-HFC and have
higher inflation could pose risks. However, India is Fourth, technology also helped a large part of the average call rate within the corridor. This would help
low global warming potential. The next generation refrigerants and refrigeration not the only country that needs to reassess its policy workforce to operate remotely, which restricted the enhance the credibility of the central bank. Changes
technology is expected to involve the use of relatively safer chemicals like hydro- position. The minutes of the latest Federal Reserve decline in economic activity and income. in the policy corridor by the RBI can undermine the
fluoro-olefins (HFOs) or admixtures of HFCs and HFOs. Moreover, the upcoming meeting, for example, indicated that it is also con- The next steps: Although the pandemic is position of the MPC. As the World Bank paper
R&D might also make greater use of natural coolants, such as butane, propane templating tapering asset purchase. But Fed unlikely to end immediately, its impact on economic showed, there is evidence that inflation has become
and ammonia that already exist in the environment. However, the technology Chairman Jerome Powell has maintained that activity would slowly wane. Economic policy will better anchored after the adoption of the inflation-
developers would need to focus more on improving the energy efficiency of the higher inflation is transient. need to adjust accordingly. The pace of adjustment targeting framework and, contrary to popular per-
cooling equipment to bring down their operational cost and make them more Past and present: To be fair, the view of large could be significantly different in different econ- ception, adjusting for inflation and output gap, policy
environment-friendly. central banks is supported by history. Since the dis- omies, which would have its own implications. The rates have come down. It is vital for the Indian policy
ruption caused by the Covid-19 pandemic has often Indian central bank, however, would have added establishment to preserve these hard-won gains.

A fresh perspective on reform became the only senior advisor in the

finance ministry, who was there before
the crisis of 1990 and was back in North
shrift to the “so-called ‘dream budget’ of
1997”, which according to him became
popular with the media and the affluent
19 and what could go right or wrong for
India. They carry many sombre
warnings about the future and since the
Block from 1993 to 2000 (And if he had because of the reduction in income-tax author’s recent forecasts on the likely
technocrats (Montek Singh Ahluwalia previous three memoirs had dwelt at agreed, he could well have been part of rates but had regrettably contributed to growth rate for the Indian economy
as the finance secretary and Shankar length on how the finance ministry in the economic policy advisory team “a stalling in fiscal consolidation.” have been mostly on target, those
Acharya as chief economic advisor, who the 1990s spearheaded India’s reforms. under the Modi government in 2014!). In contrast, the finance minister chapters are a grim reminder to policy
resumed his stint with the finance The novelty factor was almost gone. Apart from Manmohan Singh, the whom the author likes the most after makers that they must grapple with
ministry in April 1993) and the other two Yet, Dr Acharya has kept the reader’s author also worked with two other Manmohan Singh, is Yashwant Sinha. those challenges sooner than later.
belonged to the Indian Administrative interest alive all through while finance ministers. V P Singh, under Indeed, he rates Atal Bihari Vajpayee’s Those looking for anecdotes will not
Services (Y V Reddy and N K Singh). presenting a fresh perspective on how whom he helped government, in be disappointed. Thrown in different
BOOK REVIEW In the last four years, all four of them the dramatis personae in the story of produce the Long- An Economist at which Yashwant chapters are delectable titbits arising
have brought out their memoirs to economic reforms played their Term Fiscal Policy Home and Abroad – Sinha was finance out of the author’s various interactions
A K BHATTACHARYA recount, among other things, the days different roles. That difficult task he has (LTFP), was “an A Personal Journey minister for — ranging from his “injudicious”
that they spent in North Block to usher achieved with commendable clarity excellent tax- Author: Shankar several years, decision to buy a used Premier Padmini

T
here is a key difference between in those reforms. What stands out from and rare candour. You cannot disagree reforming FM, but Acharya slightly higher car from Manmohan Singh in 1982 to
Manmohan Singh as the finance their memoirs is the collegial way this with his assessment of how Manmohan part of his strategy than Narasimha CEA Bimal Jalan privately asking him
minister (1991-1996) and as the team functioned as also during its Singh functioned as finance minister: of reduced income Publisher: Rao’s because the to drop the term Modvat from the LTFP
prime minister (2004-2014). While he deliberations with other stakeholders “Generally, he was reserved and slightly tax rates was stricter
HarperCollins former had to deal document and to his realisation at the
was at North Block, Dr Singh had the such as the Reserve Bank of India. formal as a personality. That made the compliance Pages: 300+XIV with a “more dinner table in Lucknow that his Hindi
luxury of an excellent team under his There was debate, discussion and some flashes of informality and wit even requirements and Price: ~599 unwieldy political was worse than the English of then chief
command. But the team assisting him disappointment, but what more charming.” expectations.” His coalition and minister of Uttar Pradesh, Mulayam
during his longer stint at South Block distinguished that environment was Dr Acharya’s memoirs, however, are assessment of without the benefit Singh Yadav.
was not even half as good. the presence of a cooperative spirit and, not just about his days in the finance P Chidambaram and Yashwant Sinha of the urgency … imparted by a grave All in all, the book is an enjoyable
That was a big difference. Four top- often, a convergence of views. ministry during the 1990s. The story of was equally notable. He found them economic crisis like that of 1991”. read. The author has perfected the
notch officers (excluding Ashok Desai Of the four memoirs, the last to his work in the finance ministry begins talented but did not mince words while The last two chapters are not strictly delicate art of combining storytelling
who was chief consultant in the initial appear in print is by Dr Acharya. much earlier in 1985, when chance and describing Mr Chidambaram (“a clever part of his memoirs. They provide a and autobiography with the larger
days of reforms) worked as part of a well- Undeniably, An Economist at Home and circumstance played a key role in his and articulate lawyer, often charming medium-term assessment of the Indian canvas of policy-making. Dr Acharya
oiled team in the finance ministry Abroad could have suffered from an entry into North Block. The memoirs and sometimes arrogant”). economy in the context of the has achieved that difficult fusion with
during the early 1990s. Two were inherent disadvantage in that the will also remind you how the author Interestingly, the author gives short challenges that have arisen from Covid- the skills of an accomplished writer.
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NEW DELHI | THURSDAY, 26 AUGUST 2021

POSSESSION NOTICE (For Immovable Property) Rule 8-(1)

Whereas, the undersigned being the Authorized Officer of IIFL Home Finance Limited (Formerly known as India Infoline Housing
FinanceLtd.)(IIFL-HFL)undertheSecuritisationandReconstructionofFinancialAssetsandEnforcementofSecurityInterestAct2002
andinexerciseofpowersconferredundersection13(12)readwithRule3oftheSecurityInterest(Enforcement)Rules2002,issueda
Demand Notice was issued by the Authorised Officer of the company to the borrower / co-borrewers mentioned herein
below to repay the amount mentioned in the notice within 60 days from the date of receipt of the said notice. The
borrower having failed to repay the amount, notice is hereby given to the borrower and the public in general that the
undersigned has taken possession of the property described herein below in exercise of powers conferred on him
under Section 13(4) of the said Act read with Rule 8 of the said rules. The borrower in particular and the public in general
are hereby cautioned not to deal with the property and any dealings with the property will be subject to the charge of IIFL
HFL for an amount mentioned herein under with interest thereon.
Theborrower’sattentionisinvitedtoprovisionsofsub-section(8)ofsection13oftheAct,Iftheborrowerclearstheduesofthe“IIFL-HFL”
togetherwithallcosts,chargesandexpensesincurred,atanytimebeforethedatefixedforsaleortransfer,thesecuredassetsshallnot
besoldortransferredby“IIFL-HFL”andnofurtherstepshallbetakenby“IIFL-HFL”fortransferorsaleofthesecuredassets.
Name of the Description of secured asset Total Outstanding Date of Date of
Borrower(s) / Guarantor(s) (immovable property) Dues (Rs.) Demand Notice Possession
Mr. Lokesh Kumar, All that piece and parcel of: Built-Up Prospect No. 933673 Rs. 4,41,326/- 25-Mar-2021 21-Aug-2021
Mr. Sat Parkash, Property Bearing No. 67, (Rupees Four Lakh Forty One
Mrs. Sunita Devi, admeasuring 250 sq. yds., Out Thousand Three Hundred Twenty Six
OfKhasra No. 39,Bagat Panna,
M/s Sai Enterprises Situated In The Revenue Estate Of Only), Prospect No. 927205 Rs.
(Prospect No. Village NangliSakrawati, Near Ram 12,89,019/- (Rupees Twelve Lakh
Eighty Nine Thousand Nineteen Only),
933673, 927205, Mandir, Abadi Known As Old Lal
Prospect No. 897946 Rs. 23,28,580/-
897946,901839) Dora, New Delhi, 110043, India. (Rupees Twenty Three Lakh Twenty
Eight Thousand Five Hundred Eighty
Only) Prospect No.901839 Rs.
1,64,140/-(RupeesOneLakhSixtyFour
ThousandOneHundredFortyOnly)
Mr. Anand Gopal All that piece and parcel of Plot No. Prospect No. 933749 Rs. 6,81,476/- 27-May-2021 21-Aug-2021
Mishra, Mrs. Geeta 61, admeasuring 200 sq.yds,Out Of (Rupees Six Lakh Eighty One
Devi, Mrs. Lalita Khasra No. 2/17, Situated In The Thousand Four Hundred Seventy Six
Mishra, The Pacific Revenue Estate of Village Khaira Only), Prospect No. 870523 Rs.
Music Academy Delhi State Delhi Abadi Known As 39,94,364/- (Rupees Thirty Nine Lakh
( P r o s p e c t N o Gopal Nagar Najafgarh New Delhi- Ninety Four Thousand Three
933749,870523) 110043,India. HundredSixtyFourOnly)
For further details please contact to Authorised Officer at Branch Office: Plot No. 30/30E, Upper Ground Floor, Main Shivaji
Marg, Najafgarh Road, Beside Jaguar Showroom,Moti Nagar, New Delhi and/or Corporate Office: IIFL Tower, Plot No. 98,
Phase-IV,UdyogVihar,Gurgaon,Haryana.
Date: 26-August-2021 Place: Delhi Sd/- Authorised Officer For IIFL Home Finance Limited

JAGSONPAL PHARMACEUTICALS LIMITED

Regd. Office: T-210-J, Shahpur Jat, New, Delhi-110049
Tel : No.: 011-46181100 & 46109900, Fax : 011-26498341
Website : www.jagsonpal.com, E-mail : [email protected] &
[email protected]
Company Identification Number: L74899 DL 1978PLC009181
NOTICE TO EQUITY SHAREHOLDERS
SUB:TRANSFER OF EQUITY SHARES TO THE INVESTOR EDUCATION AND
PROTECTION FUND (IEPF) AUTHORITY
Notice is hereby given pursuant to the provisions of Section 124 of the Companies Act, 2013
("Act") read with the Investor Education and Protection Fund Authority (Accounting, Audit,
Transfer and Refund) Rules, 2016 and the Investor Education and Protection Fund Authority
(Accounting, Audit, Transfer and Refund) Amendment Rules, 2017 ("Rules") notified by the
Ministry of Corporate Affairs, that the Company is required to transfer unpaid / unclaimed
dividend(s) and shares in respect of which dividend has remained unpaid / unclaimed by the
shareholdersfor a period of seven consecutive years to the Investor Education and Protection
Fund ("IEPF") Account, established by the Central Government.
The Company has sent communication to all the concerned shareholders who have not
claimed any dividend during last 7 years i.e. from financial year 2013-14 onwards at the
latest available address, advising them to claim dividend before the due date i.e.
06th November, 2021.
In case the Company does not receive necessary documents required for claiming unpaid
dividend from the concerned shareholder before the due date i.e. 06th November, 2021, the
Company shall, in order to comply with the requirements of the Act and IEPF Rules, transfer
the shares to the Demat Account of IEPF Authority after 06th November, 2021, as per the
procedure set out in the IEPF Rules without any further notice to the shareholders. The
Shareholders may note that once the dividend and their corresponding shares are credited
to the Demat Account of IEPF Authority, no claim shall lie against the Company in respect
thereof pursuant to the Act and IEPF Rules.
The Company has also uploaded complete details of such shareholder(s) and shares due
to be transferred to the IEPF Authority on its website. Shareholders are requested to refer to
company website www.jagsonpal.com to verify the details of unclaimed dividends and the
shares liable to be transferred to the IEPF Authority.
The concerned shareholder(s) holding shares in physical form and whose shares are liable
to be transferred to the IEPF Authority, may note that upon transfer of shares to IEPF Authority
the original share certificate(s) which are registered in their name will stand automatically
cancelled and be deemed non-negotiable. In case of shares held in Demat Form, to the
extent of shares liable to be transferred shall stand debited from the shareholders account.
For any queries on the aforesaid subject the shareholder is requested to contact the
Company or Company's Registrar and Share Transfer Agent with a request giving necessary
details (i.e. Folio no, DP-ID & Client ID no. (if any), current address and contact numbers &
details of Non-receipt of the Dividend Warrant etc.) at the earliest at the following addresses:
M/s MCS Share Transfer Agent Limited,
Unit: JAGSONPAL PHARMACEUTICALS LIMTED,
F-65, Okhla Industrial Area, Phase-I, New Delhi - 110020,
Ph. & Telfax: 011-41406148, Email: [email protected]
Website: www.mcsregistrars.com
OR
The Company Secretary
JAGSONPAL PHARMACEUTICALS LIMTED
T-210 J, Shahpur Jat, New Delhi - 110049
Tele.: 011-46109900 & 011-46181100
Email: [email protected], website: www.jagsonpal.com

For JAGSONPAL PGHARMACEUTICALS LIMTED

Sd/-
Date: 25th August, 2021 NANDITA SINGH
Place: New Delhi Company Secretary

OFFICE OF THE EXECUTIVE ENGINEER

JAL SHAKTI (PHE) DEPARTMENT, DIVISION, Sopore
email :[email protected]
TENDER DOCUMENT (Technical Bid-Volume-I)
TOP SHEET
E-NIT No 37/PHE/SPR/OF08/ 2021.Dated 24/08/2021
E- TENDER FOR
Notice Inviting e-Tender
E-NIT NO 37/PHE/SPR OF 08 2021. DATED 24/08/2021
For and on behalf of the Lt. Governor UT of J&K e-tenders (Two cover System) on Item Rate Basis including
the maintenance cost for a period of (3) three Years which includes 12 months of DLP are invited from Reputed
and resourceful contractors/ Firms/Companies/Joint Venture of repute in PWD or Equivalent in CPWD/ Railways
and other state Governments for the following work, which should be uploaded on the Procurement web portal
http://jktenders.gov.in for the subjected work referred below to be received by the Superintending Engineer
Hydralic Circle Distric Baramullah/Bandipora HQ, Sopore and as per the details mentioned in this e-tender
notification and to whom all the terms and conditions of detailed e-NIT /Tender Documents/ PWD Form No:- 25
double are accepted. The detailed tender document and Specifications etc. can be downloaded on the e-
procurement portal http://jktenders.gov.in.
I. All Bidders have to submit Bid Security Declaration Form instead of Earnest money as per the circular of
Finance Department (Bid Security Declaration Form is as per Annexure “A “appended herewith)
II. The 1st lowest Bidder has to produce performance security @ 3% of total contract valve pledged to
Superintending Engineer Hydraulic Circle Baramulla/Bandipora HQ. Sopore in shape of CDR/FDR/BG within
05 days before fixation of contract and shall be released after maintenance period is over.
S. Name of Work Estimated Cost of Time of Class of Accord of
No Cost TD completion Contract Administrative
1 (₹ in lacs) (in ₹) Approval
Composite tender for various works AAY Class Accorded vide No
viz laying and fitting of various dia Rs. Rs. 120 days /Firms/ Joint SE/HYD/DB/TS/09
pipes, revamping of filtration plant, 230.00 3000.00 Venture of of 2021-22 Dated:
renovation of quarter and Electric lacs repute in PWD 07-06-2021 issued
and Mechanical works and other or equalent in under endorsement
CPWD/ No:SE/Hyd/DB/PH
applied allied works for
Railways/Other E/1700-01 Dated:
W.S.Scheme Zaingeer (under
state Govt. 07-06-2021.
languishing Programme)
Position of Funds:- Available; Major Head of Account: JKIDFC(languishing)
The Bidding documents consisting of eligibility criteria, specification, bill of quantities (B.O.Q) set of terms &
conditions of contract and other details can be seen/ downloaded from the e-procurement Portal
“http://jktenders.gov.in”as per schedule of dates given below:-
S. Description Date Time
No. DD MM YYYY
1 Publishing date of NIT 24 08 2021 1400 hours
2 Download start date 24 08 2021 1400 hours
3 Bid submission start date 24 08 2021 1400 hours
4 Bid submission end date 15 09 2021 1600 Hours
5 Bid opening date (Technical Cover) 16 09 2021 1100 Hour
TERMS AND CONDITIONS:
1. The tenderer should in his own interest inspect and examine the site, its surroundings/topography, nature
of ground, climatic conditions, accessibility or other relevant information at his own expenses and
responsibility to satisfy himself before tendering for the advertised work. The bidder will have to execute
each part of the work i.e. Civil / Electro-Mechanical part under the close supervision of the respective
Engineer- in- Charges of Civil & Mechanical wings In-charge of the Scheme..
2. If L1 fails to start the work within 15 days of the issuance of letter of intent or allotment, whichever is earlier,
the department shall allot the work to the other willing Lowest bidder L2 and the performance security of
L1 if any shall be forfeited, besides debarring him for a period of two years for participating in the e-NIT’s
issued by the kmr. PHE Department Srinagar.
26.0 For any clarification the Bidders can contact divisional office or can email the Department at the email :-
[email protected]
27.0 Any item of work which is required for satisfactory completion of the scheme / individual activity shall be
exclusively responsibility of the contractor and no additional cost shall be paid to the contractor.
28.0 In case of any disputes /differences, the jurisdiction shall be to the Courts situated in Srinagar only. Supplies,
if involved any, will be deducted at prevalent stock rates at the time of tender for such material. We look
forward to your active participation.
For and on behalf of the Lt. Governor UT of Jammu & Kashmir
Sd/--
No: -PHE/Spr/CS/3645-3661
Executive Engineer
Dated: 24-08-2021 DIPK-7191/21 (JSD) PHE Division Sopore
>
NEW DELHI | THURSDAY, 26 AUGUST 2021 POLITICS & PUBLIC AFFAIRS 11 Regd. Office: D-90, Okhla Industrial Area, Phase – 1 New Delhi – 110020.
CIN: L74899DL1992PLC051527. Tel.: +91-11-26818840, 26818642, 26815558, 26815559.
Fax: +91-11-26811959, 26817225. Email: [email protected] Website: www.kei-ind.com
NOTICE FOR COMPULSORY TRANSFER OF UNPAID / UNCLAIMED DIVIDEND & EQUITY

3rd wave may not be severe

SHARES OF THE COMPANY TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
Dear Shareholder(s),
We wish to inform you that pursuant to Section 124(5) and (6) of the Companies Act,
2013, Investor Education and Protection Fund Authority (Accounting, Audit, Transfer

but prepare for worst: Arora

and Refund) Rules 2016 (including any statutory modification(s), enactments(s) thereof
for the time being in force) (hereinafter referred to as 'IEPF Rules') available on the
website of Ministry of Corporate Affairs at www.iepf.gov.in has inter-alia, specified the
manner for transfer of Unclaimed/Unpaid Dividend along with the shares in respect of
which dividend is unpaid or unclaimed for a period of seven years to Investor Education
and Protection Fund (IEPF) established by the Central Government.

Says booster dose will Focus on vaccinating Unpaid / Unclaimed dividend for the financial year 2012-13 and shares on which
dividend has not been claimed for seven consecutive years i.e. from financial year
depend on local context more, says Guleria 2012-13 has already been deposited/transferred to Investor Education and Protection
Fund. Shareholders who have not claimed their dividend for a period of seven years i.e,
for the financial year 2013-14 and shares on which dividend has not been claimed for
RUCHIKA CHITRAVANSHI India needs to focus on vaccinating as seven consecutive years i.e., from the financial year 2013-14 is(are) liable to be
New Delhi, 25 August many individuals as possible, especially transferred to IEPF as provided under the Companies Act, 2013 read with IEPF Rules.
those in the high risk category instead of Further, those shareholders whose email ids are not registered may get their email ids

I
ndia may not see a terrible third wave, giving booster doses, Randeep Guleria, registered with Company / Company's Registrar and Share Transfer Agent by sending
but it has to prepare for the worst, director at All India Institute of Medical email to [email protected] or [email protected].
Narendra Kumar Arora, co-chairman Science, said. In compliance to the provisions of IEPF Rules read with Secretarial Standard on
of the Indian Sars-Cov-2 Genomics He said that there was not Dividend (SS-3), the Company has uploaded details i.e. name and Folio No./DPID-
Consortium — (INSACOG), told Business enough evidence that a CLID of such shareholders whose dividend and shares are due for transfer to IEPF on
its website http://www.kei-ind.com under Investor Relation Section and the Company
Standard. Amid concerns around booster booster dose would be shall initiate transfer of shares to IEPF in respect of which dividend stands unclaimed for
shots and fears of a third wave, Arora said beneficial. “We have not a consecutive period of seven years starting from the financial year 2013-14 and
decision on such a dose would be taken had enough doses to transfer of unpaid / unclaimed dividend for the financial year 2013-14 to IEPF.
depending on the local context. “There is adequate evidence that vaccinate everyone and we We would further like to state that future dividend / benefits, if any, in respect of shares
“That the US and Israel are giving these increase in the gap between the are thinking of a booster so transferred shall also be credited to the IEPF.
shots is noted but our decision will be two Covishield doses gives sufficient dose...Let us stick to what we know right After the shares and dividend transferred to the IEPF, the claimant can claim those
based on our data. We have suffered Delta protection. These things are now,” Guleria said. He said, ‘’we will be shares and dividend in accordance with the procedure and on submission of necessary
already. And Delta has attacked them constantly under watch” able to save many lives if we focus on forms and documents to the IEPF Authority. You are also hereby informed that after
now,” Arora said. vaccinating more people’’. Guleria was transfer of shares and dividend to IEPF, no claim shall lie against the Company/RTA.
He said the booster dose was depend- N K ARORA speaking at a conference organised by the (IEPF Rules and web-form IEPF-5 for claiming Refund of shares and dividend are
ent on epidemiology of the circulating Co-chairman, INSACOG Integrated Health & Wellbeing Council. available on the website of Ministry of Corporate Affairs at www.iepf.gov.in).
virus and the intensity of infection. It’s In view of above, you are once again requested to claim your Unclaimed/Unpaid
also dependent on the durability of pro- dividend, if any immediately on or before 21st September, 2021 by submitting the
tection in the context in which the vac- Over 600 mn Covid vaccine doses application along with a self-attested copy of PAN card, original cancelled cheque,
address proof, client master certificate issued by the depository participant and the
cine is given.
INSACOG is setting up a national vac-
administered in India, says govt original uncashed dividend warrant (if any) or a duly filled indemnity bond on plain paper
(available on the website of our RTA at www.masserv.com) to M/s MAS Services
cine tracker which will make available data The cumulative number of Covid-19 India took 85 days to touch the figure Limited, (Company's Registrar and Transfer Agent), having its registered office at T-34,
on breakthrough infections. “It will be vaccine doses administered in the country of 100 million. It then took 45 days to cross 2nd Floor, Okhla Industrial Area, Phase-II, New Delhi-110020 or at the registered office
of the Company, D-90, Okhla Industrial Area, Phase-I, New Delhi-110020 with a copy
launched soon,” Arora said. surpassed the 600-million mark on the 200-million mark and 29 more days to marked at the e-mail [email protected] and [email protected] failing which the
The Delta variant, which hit India in Wednesday, Union Health Minister reach 300 million, the minister informed. Company shall transfer these shares to IEPF without further notice, upon which the
the second wave, has been responsible for Mansukh Mandaviya said. "Under PM The country took 24 days to reach 400 original share certificate(s) shall automatically stand cancelled and be deemed non-
a lot of breakthrough infections. Whether @NarendraModi ji's #SabkoVaccine million from 300 million and then 20 more negotiable. If your shares are held in Dematerialization mode, the same shall be
we are seeing an increase in breakthrough MuftVaccine initiative, India crossed the days to cross 500 million vaccinations on transferred to Demat account of IEPF in the manner specified in IEPF Rules.
infections in a particular population is also 60 crore vaccination mark. August 6. It took 19 more days to go past In case you have any queries on the subject matter, you may contact our Registrar and
an important factor in booster dose con- Congratulations everyone!" he tweeted. the 60-crore mark, Mandaviya said. Transfer Agent:
sideration, according to Arora. M/s. MAS Services Limited,
While stressing that decisions related T-34 2nd Floor, Okhla Industrial Area, Phase-II, New Delhi-110020,
Tel.: 011-26387281-83, FAX: -011-26387384,
to vaccine would be taken on a scientific Amid widening gap between the vac- protection. These things are constantly E-mail: - [email protected] Sd/-
basis, Arora said published studies of cination coverage in wealthy and poorer under watch,” Arora said. For KEI INDUSTRIES LIMITED
breakthrough infections among health countries, the World Health Organisation There are two types of immunity which Date: 25.08.2021 Kishore Kunal
personnel (who were the first to be vacci- had said boosters should be on hold until the vaccines are providing — visible anti- Place: New Delhi AVP(Corporate Finance) & Company Secretary
nated) indicated that such infections were end of September to ensure at least 10 per bodies and invisible based on memory cell
not of concern. cent of the population of every country response, Arora pointed out. He said peo-
A study on vaccine efficacy conducted was vaccinated. ple should not rely on antibody tests to
by PGI Chandigarh showed that two doses India has so far fully vaccinated around find if they have got protection from the
of Covid vaccine gave 98 per cent protec- 10 per cent of the total adult population. vaccine. The B cell and T cell response —
tion against the disease. One dose gave 92 Less than 24 per cent have received a sin- which refers to long term immunity
per cent protection, according to the study gle dose so far, according to Our World in through the memory cells in the body —
done on Punjab police personnel. Data. is measured only in three labs in the coun-
Another study by Christian Medical INSACOG is keeping a close watch on try. This test is only available for scientific
College, Vellore, found that the risk of the gap of 12 to 16 weeks between the two research purposes.
infection among the fully vaccinated doses of Covishield. “There is adequate Arora said it had been found that the
health care workers was significantly lower evidence that increase in the gap between Covid vaccines in use produced such long
than those unvaccinated. the two Covishield doses gives sufficient term immunity in people.

> FROM PAGE 1 events are very much on and experience of assessing officer that if taxes are reduced, it will
post the lockdown, we have in dealing with specific sub- force the government to bor-
Biz clubs... noticed that everyone is look-
ing for more light-hearted con-
jects, the revenue department
is evaluating whether such
row more. This can have a neg-
ative impact on the macro-
Members are also using these tent where they can socialise cases should be dealt by an economy. “A 360-degree view
facilities as a sort of second and have a good time rather expert team or empower other must be taken before making
office. “The Chambers served than the heavier intellectual assessing officers,’’ said anoth- a decision,” said Bajaj.
as my office away from office events for now.” He adds that er source. Bhargava retorted saying
throughout the pandemic,” there’s also been a sense of Taxpayers can also face the growth of SUV as a metric
says Sharukh Katrak, manag- fatigue around virtual events, language barriers while is not the correct way since
ing partner at Bayarea “so we’re staying away from explaining their cases to an most buyers prefer entry-level
Terminals. “Being in the digital programming”. assessing officer in another models whose prices have
essential business of logistics, part of the country. “The gone up by ~45,000-50,000
I went to The Chambers for department is considering if due to the new safety and
important in-person meetings
as and when required. It was
Top taxpayers... cases can continue to be face-
less but can be dealt by officers
emission norms, rising insur-
ance, and road tax.
the only place I could trust, Even as the new regime aimed who are well-versed with the This is the second time that
given the high standard of at quicker and effective reso- language and other local chal- a difference in opinion
sanitisation.” lution of cases, some of them lenges, even if they are based between the industry and the
Events, albeit small ones, are facing delays and incon- in other cities of the state,” he government has arisen. Last
are now being hosted at these venience due to the faceless explained. year, Shekar Viswanathan, for-
clubs. Sunil Narang, general system, said another official. mer vice-chairman of Toyota
manager of the Four Seasons A decision on the flexibility Kirloskar Motor, had said the
Hotel in Mumbai, says “Yes,
we’re slowly but surely seeing
for top taxpayers would be tak-
en after weighing the viability
Bhargava, Venu... government keeps taxes on
cars and motorbikes so high
a return of smaller events. of such a suggestion as some Passenger vehicle volumes in that his company finds it dif-
We’ve hosted a few intimate believe similar flexibility FY21 were the lowest since ficult to expand.
gatherings at The Club recent- should be provided to smaller 2015-16; two-wheeler volumes But the finance ministry
ly for our members and also tax payers, too, one of the offi- the lowest since 2014-15. countered saying auto compa-
for entrepreneur networking cials said. Sales of commercial vehi- nies should reduce royalty
sessions.” Other specific issues have cles in FY21 were the worst in payments to parents abroad
He adds, “With markets come up too. For example, as 11 years; for three-wheelers, instead of seeking tax cuts.
opening up and gradual ease majority of information tech- they were the lowest in 19
of restrictions, we soon hope nology companies are based years. Siam blamed the
to curate bespoke, one-of-a-
kind intimate events for our
in Bengaluru, officers there are
more equipped to handle
increased cost of ownership
due to the high goods and
FM asks PSBs...
members that will enrich their international taxation cases services tax (GST) and a hike Between October 2019 and
experience and connect with and those in Mumbai can bet- in road tax as the killjoys. March 2021, ~4.94 trillion
them in meaningful ways.” ter deal with cases of capital Srinivasan echoed worth of loans were distrib-
Narain says that “in-person gains tax. “Due to hands-on Bhargava, saying while India’s uted.
two-wheeler industry is the The government’s push
largest in the world and largely comes at a time when credit
> BS SUDOKU # 3446 considered a common man's growth is hovering around 6
mode of transport, the GST per cent due to risk aversion
rates are similar to those for by lenders as well as borrow-
luxury cars. ers. As corporates are delever-
“The price of the moped aging and moving to capital
has gone up 45-50 per cent. markets for their funding
The GST on two-wheelers is requirements, banks have
the same as a luxury-level focused on the retail segment
product. Is the auto sector to boost credit off-take.
being recognised for what it However, after the second
has contributed to the envi- wave of the Covid-19 pandem-
ronment, to revenue, and to ic, stress in the retail segment
foreign exchange earnings? has increased.
That is the question R C The finance minister said
Bhargava has raised,” said banks had been asked to inter-
Srinivasan. act with export promotion
When his turn came, Bajaj agencies and industry and
asked if taxation was the rea- commerce bodies so that the
son why industry growth was requirements of exporters
impeded. “I want to under- could be timely addressed.
stand, before GST came, what PSBs should extend assistance
was the taxation structure in to the sunrise sectors by
large auto markets? Was the understanding their financial
taxation structure any lesser? requirements, she said.
I think it might have been a lit- Further, banks should
SOLUTION TO #3445 tle higher. We can't decrease come up with specific plans for
Medium taxes without knowing the northeast states. In eastern
««« whether that will actually lead
to a corresponding increase in
states like Bihar, Jharkhand,
and West Bengal where CASA
Solution auto sales,” he said. (current account savings
tomorrow He pointed out that the account) deposits are piling
sales of sport utility vehicles up, she asked banks to focus
HOW TO PLAY (SUVs) are rising when sales in on greater credit expansion so
Fill in the grid so that other segments are not. “I am that the fund flow to business
every row, every col- keen to understand the reason units in that region could be
umn and every 3x3 behind the fall in numbers better promoted.
box contains after 2017-18 for a sector that
the digits 1 to 9 promised high growth a few
years back,” said Bajaj, adding More on business-standard.com
12
>
NEW DELHI | THURSDAY, 26 AUGUST 2021 1

APPENDIX IV APPENDIX IV
[See rule 8 (1)] [See rule 8 (1)]
POSSESSION NOTICE POSSESSION NOTICE
(for immovable property) (for immovable property)
Whereas, Whereas,
The undersigned being the Authorized Officer of INDIABULLS HOUSING The undersigned being the Authorized Officer of INDIABULLS HOUSING
FINANCE LIMITED (CIN:L65922DL2005PLC136029) under the Securitisation FINANCE LIMITED (CIN:L65922DL2005PLC136029) under the Securitisation
and Reconstruction of Financial Assets and Enforcement of Security Interest and Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 and in exercise of powers conferred under Section 13 (12) read with Act, 2002 and in exercise of powers conferred under Section 13 (12) read with
Rule 3 of the Security Interest (Enforcement) Rules, 2002 issued Demand Notice Rule 3 of the Security Interest (Enforcement) Rules, 2002 issued Demand Notice
dated 30.12.2015 calling upon the Borrower(s) MADAN KUMAR AND dated 16.01.2018 calling upon the Borrower(s) MR. MANAVIR SINGH
SHARMILA SINGH to repay the amount mentioned in the Notice being AND MRS. RENU JAIN to repay the amount mentioned in the Notice
Rs.17,91,297/- (Rupees Seventeen Lakh(s) Ninety One Thousand Two being Rs.40,77,321/- (Rupees Forty Lakhs Seventy Seven Thousand Three
Hundred Ninety Seven Only) against Loan Account No.HHLDCP00164516 as Hundred Twenty One Only) against Loan Account No.HHLNOI00256268 as
on 26.12.2015 and interest thereon within 60 days from the date of receipt of the on 12.01.2018 and interest thereon within 60 days from the date of receipt of the
said Notice said Notice
The Borrower (s) having failed to repay the amount, Notice is hereby given The Borrower (s) having failed to repay the amount, Notice is hereby given
to the Borrower (s) and the public in general that the undersigned has taken to the Borrower (s) and the public in general that the undersigned has taken
symbolic possession of the property described herein below in exercise of symbolic possession of the property described herein below in exercise of
powers conferred on him under Sub-Section (4) of Section 13 of the Act read powers conferred on him under Sub-Section (4) of Section 13 of the Act read
with Rule 8 of theSecurity Interest (Enforcement) Rules, 2002 on 24.08.2021 with Rule 8 of theSecurity Interest (Enforcement) Rules, 2002 on 23.08.2021

The Borrower (s) in particular and the public in general is hereby cautioned not The Borrower (s) in particular and the public in general is hereby cautioned not
to deal with the property and any dealings with the property will be subject to to deal with the property and any dealings with the property will be subject to the
the charge of the INDIABULLS HOUSING FINANCE LIMITED for an amount charge of the INDIABULLS HOUSING FINANCE LIMITED for an amount of
of Rs.17,91,297/- (Rupees Seventeen Lakh(s) Ninety One Thousand Two Rs.40,77,321/- (Rupees Forty Lakhs Seventy Seven Thousand Three Hundred
Hundred Ninety Seven Only) as on 26.12.2015 and interest thereon. Twenty One Only) as on 12.01.2018 and interest thereon.
The Borrower’s attention is invited to provisions of Sub-Section (8) of The Borrower’s attention is invited to provisions of Sub-Section (8) of
Section 13 of the Act in respect of time available, to redeem the secured Section 13 of the Act in respect of time available, to redeem the secured
assets. assets.
DESCRIPTION OF THE IMMOVABLE PROPERTY DESCRIPTION OF THE IMMOVABLE PROPERTY
No.M-304 (UNIT NO. 304, TOWER-M,), 3RD FLOOR, “AJNARA HOMES”, UNIT NO. T9/1602, 16TH FLOOR, HAVING A SUPER AREA OF 1465
PLOT NO.GH-03, SECTOR-16B, GREATER NOIDA, GAUTAM BUDDHA NAGAR SQUARE FEET, IN THE BUILDING CALLED SHREE RADHA SKY GARDENS
(UP) – 201310, WHICH IS BOUNDED AS UNDER:- SITUATED AT GH-05, SECTOR 16B, GREATER NOIDA UTTAR PRADESH,
WHICH IS BOUNDED AS FOLLOWS:
EAST : AS PER TITLE DEED WEST : AS PER TITLE DEED
EAST - AS PER TITLE DEED WEST - AS PER TITLE DEED
NORTH : AS PER TITLE DEED SOUTH : AS PER TITLE DEED NORTH - AS PER TITLE DEED SOUTH - AS PER TITLE DEED
Sd/ Sd/
Date : 24.08.2021 Authorized Officer Date : 23.08.2021 Authorized Officer
Place : GREATER NOIDA INDIABULLS HOUSING FINANCE LIMITED Place : GREATER NOIDA INDIABULLS HOUSING FINANCE LIMITED

Corporate Office : 254-260, Avvai Shanmugam Salai,

Royapettah Chennai-600014
Zonal Office: Delhi Central, 17, Parliament Street, 1st
Floor, Allahabad Bank Building, New Delhi-110001
APPENDIX- IV-A” [See proviso to rule 8 (6)] Sale notice for sale of immovable properties/movable assets
E-Auction Sale Notice for Sale of Immovable Assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 read with proviso to Rule 8 (6) of the Security Interest (Enforcement) Rules, 2002
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 Indian Bank (e-Allahabad Bank), Secured
Creditor, will be sold on “As is where is”, “As is what is”, and “Whatever there is” on 14.09.2021 for recovery of dues.
The specific details of the properties intended to be brought to sale through e-auction mode are enumerated below:
S. Name of the Borrower(s) Name of the Guarantor Details of Immovable Property/ies/movable Physical / Amount of Secured Reserve Earnest
No. (s) /Mortgagor(s) assets Constructive Debt as on Price Money
Possession 09.08.2021 Deposit
Min
Incremental
Amount
(i) (ii) (iii) (iv) (v) (vi) (viii) (ix)
1. Ms. Chhavika Kumar D/o Late Mr. Ms. Chhavika Kumar D/o Free Hold Flat Bearing no.D-2/LG-12, on Lower Physical Rs.41.11 Lac + Rs.27.00 Rs.2.70 Lac
Rakesh Kumar, Mr. Tapan Kumar Late Mr. Rakesh Kumar, Ground Floor, upto Ceiling Level only built on Possession Interest & other Lac ---------------
S/o Late Mr. Rakesh Kumar & Mrs. Mr. Tapan Kumar S/o Late Plot no.D-2 out of Khasra no.1076/5/2/415 expenses till Rs.0.25 Lac
Ranjana Kumar W/o Late Mr. Mr. Rakesh Kumar & Mrs. situated at Dilshad Extension no.1, now known as realisation of Bank’s
Rakesh Kumar Ranjana Kumar W/o Late Dilshad Colony in the area of Village Jhilmil dues in all accounts
Branch East Patel Nagar (eAB), Mr. Rakesh Kumar Tahirpur Illaqa Shahdara, New Delhi-110095; area
New Delhi admeasuring 74.319 sqmts
Date and Time of e-Auction On 14.09.2021 between 11.00 a.m. to 5.00 p.m. with unlimited extensions of 10 minutes each.
Minimum Bid incremental amount is as mentioned above.
For more details, interested bidders may contact the following;
• For property mentioned in Sno.1 – Mr. Deepak Kumar Pama (Ph: 011-28755827)
Email: [email protected]
Bidders are advised to visit the website (www.mstcecommerce.com) of our e auction service provider MSTC Ltd to participate in online bid. For Technical
Assistance Please call MSTC HELPDESK No. 033-22901004 and other help line numbers available in service providers help desk. For Registration status with
MSTC Ltd, please contact [email protected] and for EMD status please contact [email protected].
For property details and photograph of the property and auction terms and conditions please visit: https://ibapi.in and for clarifications related to this portal,
please contact help line number ‘18001025026’ and ‘011-41106131’.
Date: 26.08.2021 Place: New Delhi Authorised Officer

Mutual Funds
Aditya Birla Sun Life Mutual Fund

Aditya Birla Sun Life AMC Limited(Investment Manager for Aditya Birla Sun Life Mutual Fund) Registered Office: One World Center, Tower 1, 17th Floor, Jupiter Mill Compound, 841, S.B.
Marg, Elphinstone Road, Mumbai - 400 013. Tel.: 4356 8000. Fax: 4356 8110/8111. CIN: U65991MH1994PLC 080811

Record Date for Distribution

NOTICE IS HEREBY GIVEN THAT the Trustees of Aditya Birla Sun Life Mutual Fund have approved
Tuesday, August 31, 2021*, as the Record Date for declaration of distribution under the Income
Distribution cum Capital Withdrawal (IDCW) options in the following scheme, subject to availability of
distributable surplus on the Record Date:

Quantum of Distribution NAV as on

Name of the Scheme Plans/Options per unit # on face value August 24,
of ₹ 10/- per unit 2021 (₹)
Regular Plan –
Normal IDCW 11.5343

Direct Plan – The entire distributable

Aditya Birla Sun Life 11.6464
Normal IDCW surplus at the time of
Fixed Term Plan - Series QQ
Regular Plan – maturity^ shall be
(A Close ended Income Scheme) 10.7136
Quarterly IDCW distributed.

Direct Plan –
Quarterly IDCW 10.7488

The NAV of the scheme, pursuant to pay out of distribution would fall to the extent of payout and
statuto levy (if applicable).
#As reduced by the amount of applicable statuto levy. *or the immediately following Business Day if
that day is a non-business day. ^Maturity of the said scheme is August 31, 2021.
All unitholders whose names appear in the Register of Unitholders / Beneficial owners under the
IDCW options of the said scheme as at the close of business hours on the Record Date shall be
eligible to receive the distribution so declared.

For Aditya Birla Sun Life AMC Limited

(Investment Manager for Aditya Birla Sun Life Mutual Fund)
Sd/- Date : August 25, 2021
Authorised Signato Place : Mumbai
Mutual Fund investments are subject to market risks, read all scheme
related documents carefully.
.
NEW DELHI | THURSDAY, 26 AUGUST 2021 13
<
14
>
NEW DELHI | THURSDAY, 26 AUGUST 2021 1

No flying high: DGCA to make PVR Priya, Delhi’s iconic single

screen, reopens in a plush avatar
drug test a must for pilots The cinema that led to the birth of Brand PVR and was the city’s
Draft proposal covers air traffic controllers and cabin crew; violation to original hangout hub now has a high-tech new screen
invite three years of suspension to permanent cancellation of licence RITWIK SHARMA a body blow to the entertainment
New Delhi, 25 August industry, with cinemas forced to down
ISTOCK
ARINDAM MAJUMDER shutters or wiped off altogether in the
New Delhi, 25 August PVR Priya may have just pulled off past 18 months.
more comebacks than acting greats do PVR Cinemas, which is India’s largest

T
he Directorate General of Civil in the see-saw world of cinema. From film retail firm, has managed to reopen
Aviation (DGCA) has released a starting out as one of New Delhi’s iconic nearly 500 of its 846 screens in the past
draft procedure that calls for test- single screens in 1978 to a makeover in one month after braving a year of plum-
ing pilots, other aviation personnel and 1990 followed by an embrace of brand meting revenues. It has also renovated
crew members for psychoactive sub- Priya Village Roadshow (PVR) in the PVR Anupam, another evocative venue
stances before they take to the skies. The late ’90s, the South Delhi theatre was in South Delhi that was the first to adopt
Indian civil aviation regulator has sought reopened on Wednesday with a gigan- the PVR brand in 1997, but is awaiting a
comments from stakeholders over the tic new screen designed by its own pro- licence. Mumbai, where PVR has 100-
next 30 days before issuing a regulation prietary technology. odd screens, besides Tamil Nadu and
to this effect. Delhi Chief Minister Arvind Kejriwal Kerala are among places where its
Asking airlines and airports to do ran- inaugurated the cinema in its new avatar screens remain shut.
dom checks on crew and air traffic con- that boasts the PVR P(XL) technology — Bijli admitted that luring people
trollers, DGCA proposed that violators be becoming the first in the capital and back to the theatres after 18 months of
suspended for a minimum of three years ninth overall in India to have the home- getting used to an indoor lifestyle was
or their licence be permanently cancelled grown large-screen format. The new a task for PVR.
as maximum punishment. screen is 9 metres high and 19 metres “We have to try all sorts of things. It’s
The proposed rules are similar to those wide, while the revamped auditorium not just about the seats, but also the F&B,
prescribed by the US Federal Aviation has a capacity of 316 seats that are plush sound and projection. We are always
Administration and the European Aviation and offer more legroom than earlier. pushing the boundaries to develop a pre-
Safety Agency. Tickets are on offer between ~200 and mium experience,” he said. “We have vac-
Europe introduced rules for screening ~400 for the regular seats, and ~400-750 cinated our staff and followed all Covid-
pilots for psychoactive substances in 2018 choactive substance in society, impacting for 16 recliners at the back. PVR P(XL) FEATURES 19 protocols. Next comes content. Once
following the Eurowings crash of 2015, DRUGS TO BE TESTED FOR the safety in civil aviation. Therefore, Kejriwal also launched an initiative
> BARCO dual laser projection with
the cinemas open to full capacity, people
which killed 150 people. Accident investi- Amphetamine, methamphetamine, there is a need for setting up a preventive called “Urban Placemaking”, taken up by will come back.”
gators had concluded that co-pilot Andreas mechanism,” DGCA said. the multiplex chain to transform the pub- active image control Currently, cinemas in Delhi are oper-
cannabis, cocaine, opioids, > RealD 3D digital stereoscopic
Lubitz locked the captain out of the cockpit In the draft regulation, DGCA has pro- lic spaces around the cinema. ating with a 50 per cent cap on seating.
barbiturates, benzodiazepine, MDMA projection
and deliberately flew the Airbus A320 into posed that in case the screening test is pos- Long before swankier shopping cen- As PVR Priya was gradually overshad-
the Alps. Prosecutors concluded that Lubitz itive, the employee shall be immediately tres and hangout hubs mushroomed in >Dolby ATMOS sound with 41 channels owed by newer cinemas and its footfall
was suffering from a mental disorder with WHY THE SCREENING removed from the safety-sensitive duty till other parts of Delhi and neighbouring
> Harkness Clarus edge-to-edge
declined, the company also turned its
psychotic symptoms that led to suicidal n After alcohol, cannabis is the next a confirmatory report is received. And in Gurugram to woo people, the original focus on the surroundings, which result-
commonly used substance giant screen for 2D and 3D
thoughts and that he had concealed his ill- case a person refuses for the test on a sec- home of PVR — not far from the diplo- ed in the “Urban Placemaking” plan. PVR
viewing experience
ness from his employer. n 2.8% population has used cannabis in ond occasion or is tested positive after the matic enclaves of Chanakyapuri — had joined hands with Future Institute, a not-
In India, currently, pilots and cabin crew the last one year first occasion of refusal for testing, his or turned into a favourite haunt for young- > Total cost of system including for-profit research platform, to spruce
undergo a pre-flight breath analyser test her licence shall be suspended for a period sters in the 1980s and ’90s. The posh projection and sound: ~7 crore up the area.
n 1.4% have used heroin or brown
for alcohol. Last year, the DGCA extended sugar, followed by opium (0.52%) of three years. Any subsequent violation Priya market, originally called Basant “Community centres in Delhi have
the test to cover ground personnel, engi- shall lead to the permanent cancellation of Lok Market, was a mix of high-end posters from different decades. The mul- got dilapidated because of the rise of the
Source: Ministry of Social Justice and Empowerment
neers and air traffic controllers as well. licence. The investigation would consist of stores, pubs, restaurants and bookstores tiplex firm has retained its single-screen malls, as there was no focus on them.
The draft regulation says that all sched- a screening test and a confirmatory test. with the eponymous cinema as the charm as a tribute. And, as a throwback But they have much value in terms of
uled commercial aircraft operators and worldwide the use of psychoactive The screening test will be carried out at the cherry on the cake. to its journey, one now finds a “legacy providing alternative sources of recre-
air navigation service (ANS) providers substances, their general availability and airport or the ATC complex and will be “PVR Priya has a lot of nostalgic value. wall” next to the reception with posters ation for consumers,” Bijli explained,
shall carry out random drug testing for the ever-increasing number of addicted recorded on video. Many people bunked college or met their of the biggest blockbusters from 1978 to adding that the project had given a
the consumption of psychoactive sub- users is a serious concern for aviation “The medical personnel of the organi- first dates here,” said Sanjeev Bijli, joint 2018, when PVR Priya staged its last facelift with proper lighting, infrastruc-
stances of flight crew members and air safety. “Their use causes behavioural, sation concerned shall associate during this managing director, PVR Ltd. screening in June before being shut. ture and greenery to ensure audiences
traffic controllers employed by them, cognitive and physiological changes. This process. This programme shall ensure that Its 1990 revamp with 944 seats and Before Covid-19 turned lives upside returned in bigger numbers.
respectively, at the facilities established manifests in dependence, major health- at least 5 per cent of the employees of an subsequent success led to the birth of down, 90 per cent of the renovation had On Wednesday, PVR Priya started
by them by employing the services of an related issues and negative effect on per- organisation, as mentioned in para 4.1 of PVR, which was incorporated in April been completed. But lockdowns dragged its fresh comeback with a 4 pm screen-
appropriate laboratory. formance. Considering the national data, the Civil Aviation Requirements, are cov- 1995. The waiting area had a “100 Years it for another year, said Bijli. ing of the Akshay Kumar-starrer spy
The aviation regulator noted that there is a potential for the use of psy- ered in a year,” DGCA added. of the Movies” section with individual The Covid-19 pandemic has dealt thriller, Bell Bottom.
 The Smart
QUICK TAKE: CANARA BANK’S OUTLOOK IMPROVING " Caution is creeping in with investors

Investor
wary of taking out big positions ahead of
Canara Bank’s shares fell 3% on Wednesday, after seeing the Jackson Hole symposium.
similar gains on Tuesday post its ~2,500 crore QIP at ~149.35 per Investors have been flip-flopping
share. Emkay Global says, the capital raise will shore up its over whether the Fed will make
capital ratios but more fund-raising is needed as these remain a taper announcement”
NEW DELHI | sub-par versus peers. After falling in Q1, NPAs are likely to fall FIONA CINCOTTA, Senior
THURSDAY, 26 AUGUST 2021 further in Q2/Q3, while specific provision cover is up at 61%. financial markets analyst
at City Index
WWW.SMARTINVESTOR.IN FOR INFORMED DECISION MAKING <

SBI Balanced Advantage Fund Over two-thirds of BSE500

stocks decline in August
garners ~12,000 cr in NFO Experts say this reflects selling pressure in mid-, small-cap space
Highest collection by an active fund; firm expects ~1,000 cr more via online applications SUNDAR SETHURAMAN
Mumbai, 25 August

CHIRAG MADIA such as valuations, earnings driv- Though the benchmark indices are
Mumbai, 25 August ers, sentiment indicator, and the hovering near all-time highs, over
opportunity to generate higher two-thirds, or 354, of the BSE500

T
he SBI Balanced Advantage alpha, the fund managers would stocks have posted negative returns
Fund has collected a corpus have complete flexibility to in August on a month-to-date (MTD)
of ~12,000 crore in its new manoeuvre across asset classes in basis. Of these, 108 stocks have cor-
fund offer (NFO), the highest-ever the range of 0-100 per cent. rected between 10 per cent and 31 per
seen in the active funds space. And, In the past few months, cent so far this month.
company officials say they expect dynamic asset allocation funds On MTD basis, the BSE MidCap
to collect another ~1,000 crore as have attracted a lot of interest as index has fallen 0.6 per cent, and the
online applications will continue investors fear a correction in SmallCap index has declined 3.1 per
to arrive till midnight. The offer equities. In the current financial cent, while the Sensex has risen 6.3
closed on Wednesday.
With the sharp surge in Indian
year, dynamic asset allocation
funds have received net inflows
per cent. This is a reversal of the sit-
uation since the March 2020 lows,
STEEP FALL
equity markets and strong returns COLLECTION OF TOP FUNDS THROUGH NFOS of over ~7,500 crore, shows the when the BSE MidCap index had Stock Price MTD Change %
generated by equity funds, inves- Investment Initial data from Association of Mutual gained 140 per cent, while the
Ujjivan Small Finance Bank 19.9 -31.1
tors have flocked towards NFOs Scheme Name style Category Corpus (~ Cr) Funds in India (Amfi). SmallCap index rose 201 per cent.
of mutual funds (MFs). Last BHARAT 22 ETF Passive Equity: Large-cap 14,499 These funds are also known as Experts said the fall reflects the Ujjivan Financial Services 164.6 -31.0
month, ICICI Prudential Flexicap balanced advantage funds, and selling pressure in the mid- and Future Retail 44.4 -27.6
fund raised ~9,808 crore in its SBI Balanced Advantage Fund* Active Hybrid: Dynamic 12,000 they have net assets under man- small-cap space. Some have advised
Asset Allocation Strides Pharma Science 582.3 -24.4
NFO. In 2017, passive fund BHA- agement of ~1.22 trillion as on July investors to exercise caution, while
RAT 22 exchange-traded fund ICICI Prudential Flexi-cap Fund Active Equity: Flexi-cap 9,808 end. Market participants say the others called it a short-term correc- Aurobindo Pharma 696.6 -24.0
(ETF) had received ~14,499 crore Reliance Focused Large-cap Fund Active Equity: Flexi-cap 5,790 SBI Balanced Advantage Fund has tive trend on account of the sharp Top 5 BSE 500 stocks which fell the most in August Compliled by BS Research Bureau
through its NFO, shows the data Reliance Natural Resources Retail Active Equity: Others 5,660 received responses from new retail run-up in mid- and small-cap stocks.
from Value Research. investors as well as senior citizens. “Typically, small- and mid-cap
UTI Flexi-cap Fund - Regular Plan Active Equity: Flexi-cap 4,472
“The response has been terrific
from across the country. We have *Collection at the time of going to press Source: Value Research
A few years ago, there were
instances of mis-selling of balance
stocks start to move up after a size-
able rally has happened in the Markets end flat after scaling new peaks
received flows from urban and funds as they were sold as ‘safe’ benchmark indices. March and June The Sensex closed modestly lower per cent lower at 55,944.21.
rural areas. Approximately half the Largecap Fund and Reliance tion by capturing the potential funds by distributors. Last year’s quarters were very good for the mid- while the Nifty inched up to a fresh The broader NSE Nifty, however,
money has come in through the Natural Resources Fund had seen upside and limit the downside in market correction had led to capital and small-cap indices. July was a closing high on Wednesday as bulls ended 10.05 points or 0.06 per cent
banking channels while other from inflows of ~5,790 crore and ~5,660 volatile equity markets. erosion, prompting investors to flat month for the Nifty, and in took a breather amid a subdued higher at its new closing record of
our wide distribution network,” crore, respectively, through NFOs. The fund will manoeuvre across move out from the category. August, we see some late rally in the trend overseas. Banking and finance 16,634.65. It touched an all-time
said a senior official of SBI MF on SBI Balanced Advantage Fund equity for long-term wealth crea- Market participants say that as Nifty. The mid and small-cap stocks succumbed to profit-booking high of 16,712.45 during the day.
condition of anonymity. is an open-ended dynamic asset tion and fixed income to provide long as past returns from equity indices are undergoing a correction after the sharp upmove in the past TCS was the top gainer on the
Before ICICI Prudential’s allocation fund that seeks to gen- stability to the overall scheme port- funds look attractive, investors will after a flat July for Nifty. The holding few sessions, while IT and FMCG Sensex chart, rising 1.31 per cent,
Flexicap fund, Reliance Focused erate long-term capital apprecia- folio. Based on several parameters, continue to invest in NFOs of MFs. capacity of retail and HNI (high net- counters bucked the trend. followed by Infosys, Reliance
worth individual) investors is lim- After touching its all-time high of Industries, Nestle India, ITC HUL. Bajaj
ited as compared to the institutional 56,198.13 in early trade, the 30-share Finserv, were among the laggards,
investors, who are largely invested BSE Sensex ended 14.77 points or 0.03 skidding as much as 3.51 per cent. PTI

NSE asks members to stop selling digital gold in the Nifty stocks,” said Deepak
Jasani, head of retail research,
HDFC Securities. buyers will exit their positions. based on the sentiment or investing
PRESS TRUST OF INDIA as principal or employee, in any Singhania said digital gold units Some analysts said the correction Institutional players are not present for the long term.
New Delhi, 25 August business, other than that of are not issued by any regulated is steeper in mid- and small-cap stoc- in the mid- and small-cap space. It’s "If they are playing on sen-
securities or commodity deriv- entity. There is no method to ks, which have become multi-bagge- more perception driven,” said G timent, they should strictly stop
National Stock Exchange (NSE) atives, except as a broker or check whether the digital gold cer- rs with weak fundamentals. And said Chokkalingam, founder of losses. And if they want to invest for
has directed its members, includ- agent, not involving any per- tificate is backed with physical the aggressive positions taken by new Equinomics. the long term, they should cherry
ing stockbrokers, to discontinue sonal financial liability. gold or not. investors is the reason for the sharp Siddhartha Khemka, head of pick stocks with strong fundamen-
the sale of digital gold on their Accordingly, NSE directed Some jeweller firms like Titan rally in the broader markets. research (retail), Motilal Oswal tals. Even if stocks with strong fun-
platforms by September 10. members not to carry out such and banks were known for selling “A lot of loss-making stocks that Financial Services, termed the cor- damentals fall, they have a chance
The direction came after cap- activity and comply with the reg- digital gold. were enjoying a high valuation cor- rection in the broader markets a sign of gaining once the market stabil-
ital markets regulator Sebi said ulatory requirements at all times. Digital gold does not come rected. This correction was overdue. of cautiousness kicking in after talks ises," said Khemka.
that certain members are provid- "Members, currently engaging under the definition of securities The new investors are the reason why of the US Federal Reserve tapering Experts said mid-and small-caps
ing a platform to their clients for in the activity, shall cease to as defined in the Securities mid- and small-caps rallied sharply. bond purchase. might revive in the future. However,
buying and selling digital gold. undertake all activities in this Contract (Regulations) Act 1956. Even this month, at least 100,000 "The excess liquidity created a it will be a recovery led by fundamen-
Securities and Exchange Board regard, within one month from "The circular prohibits the investors are entering the market high-risk appetite, and now with tals rather than blind buying. And
of India (Sebi), through a letter the date of this circular during dealing/offering digital gold-sell- daily. The number of investors has gains in hand and cautiousness com- action will most likely to shift to qual-
dated August 3, informed the which necessary communica- ing via Sebi registered entities, as more than doubled in the last two ing in, there is some profit booking. ity names across segments.
exchange that the said activity is tions, regarding the discontinu- it is not a security as mentioned years. New investors prefer mid- and And consolidation is likely to happen “It will revive with some value
in contravention of Securities ation, shall be made to the respec- above. It may be continued to be small-caps because large-caps for some time." buying. But investors are punishing
Contracts (Regulation) Rules any such activities. tive clients," NSE said in a circular sold by the unregulated entities, usually do not give double-digit Experts further said that retail overprice stocks. It will be a different
(SCRR), 1957, and the members The SCRR rules restrict all dated August 10. subject to RBI directions if any," returns in a matter of days. Even if investors should be clear on whether recovery. It won’t be uniform across
should refrain from undertaking members from engaging, either TradeSmart Chairman Vijay Singhania said. such a rise happens, institutional they are taking short-term positions segments,” said Chokkalingam.

Infra stocks rise on the T+1 will make India pre-funding mkt for FPIs: Asifma
ASHLEY COUTINHO ister concerns with MSCI,” said Moving to a T+1 settlement short for the Securities ket that currently follows T+1,

back of NMP optimism Mumbai, 25 August

The Asia Securities Industry

Asifma in a note sent to the reg-
ulator on Monday.
The securities settlement
would necessitate booking for-
eign exchange on T day or T-1
for local custodians. Tax con-
Borrowing and Lending to
practically work and there
could be spillover effects to the
where shares are pre-delivered
on trade date and money is set-
tled on T+1. “This has been a
TOP PLAYERS and Financial
Association (Asifma) has
Markets for FPIs is operationally com-
plex, involving coordination
sultants typically compute tax
on T+2 or T+3 day, which may
physically-settled derivatives
market,” Asifma said.
headache for global investors
who need to pre-fund and to
(As on Aug 25) Close Chge 1D (%) Chge 2D (%) written to the Securities and among multiple entities like lead to a situation where pay- It said a number of opera- pre-deliver shares on a free of
Nifty Infrastructure 4,526 0.00 1.2 Exchange Board of India (Sebi) fund managers, custodians, in is received on T+1, but clients tional and technical chal- payment basis. This is not a
reiterating the perils of moving brokers, clearing members, and would have to hold on to their lenges will need to be over- model to emulate or replicate,”
CMP (~) Chge 1D (%) Chge 2D (%) to a T+1 settlement cycle. It has exchanges. So, for investors in funds in Indian rupees for a day come, which could be Asifma said.
Adani Ports & SEZ 721 3.65 7.8 said that shifting to such a sys- the US and Europe the current or two due to pending tax com- facilitated by emerging tech- Sebi recently set up a panel
tem would make India a pre- T+2 cycle was effectively T+1, putation. Moreover, such a shift nologies such as Distributed of experts to look into the con-
Hindustan Petroleum Corp 258 3.24 5.0 funding market for global insti- as investors were required to could create unnecessary costs Ledger Technology. cerns over shifting to T+1,
Oil & Natural Gas Corp 116 2.16 3.5 tutional investors, especially arrange funding for transac- and settlement risks for global Asifma said Taiwan, which according to reports. The
InterGlobe Aviation 1,717 1.45 2.7 those from the US and Europe. tions and for pre-settlement investors and failures in trade- had moved to a T+1 settlement shorter trade settlement cycle
“A change to T+1 can add matching during their daylight matching may result in the set- for equities, has subsequently is aimed at freeing up capital,
Ramco Cements 971 1.11 2.5 unwelcome trading frictions hours a day before the trades tlement obligation being borne moved back to T+2 after foreign making markets more efficient,
Bharat Petroleum Corp 461 0.94 2.0 for FPI investments into India’s settle. Regional holidays could by domestic brokers. investors faced problems. and reducing the default risk
Reliance Industries 2,203 0.87 1.9 capital markets and may reg- further add to the default risk. “The window would be too China is the only large mar- faced by clearing corporations.

Ambuja Cements 397 0.43 1.6

Exide Industries 160 0.28 0.9
Shree Cement 26,288 0.21 1.2
THE COMPASS
Source: Bloomberg; compiled by BS Research Bureau

SUNDAR SETHURAMAN
Mumbai, 25 August
domestic EPC players, power transmission
companies, cement manufacturers etc will
Pharma sector could shed underperformer tag soon
benefit from infrastructure spending by the
Infrastructure stocks have seen some buying government." Resolution of supply DEVANGSHU DATTA also mean some speculative import of Chinese APIs booking on Nifty at 16,500
interest over the past two days, after the The gains for these companies, however, buying from traders, who (active pharmaceutical ing- levels, the sector could
finance minister launched an ambitious plan may not be immediate and will depend on chain issues, The pharmaceutical sector will ride any momentum redients) were taken out of attract defensive buying.
worth Rs 6 trillion to monetise public infras- the scheme's successful implementation. The defensive buying, has been an underperformer that develops. the equation because of the This is especially true of the
tructure projects like power plants, roads and government plans to monetise assets worth and index inclusion on the stock exchange dur- The pharma sector has pandemic, which was cen- new stocks that will be
railways. The Nifty Infrastructure index rose Rs 88,190 crore in FY22, Rs 162,422 crore in ing the bull run. While the seen year-on-year (YoY) tred in Wuhan province added to Nifty Pharma.
1.2 per cent over the last two days. FY23, Rs 179,544 crore in FY24 and Rs 167,345 are key triggers Nifty50 has returned 45 per expansion of both top and where most of China’s APIs The additions will be
Adani Ports and SEZ, Hindustan crore in FY25. cent in the last 12 months bottom line in the fourth are manufactured. China decided based criteria like
Petroleum and ONGC rose 7.8 per cent, 5 per "It is a big change in the government's and 5 per cent in the last 30 quarter of financial year holds dominant market being in the F&O list and
cent and 3.5 per cent respectively over two stance and positive development for infras- days, the Nifty Pharma index 2020-21 (Q4FY21) and share in the global API mar- average six-month free float
days. While cement companies like Ramco tructure development. However, it all has returned 19.5 per cent Q1FY22. The sector has ket and India imported market cap. So, it’s techni-
Cements, Ambuja Cements and UltraTech depends upon how the scheme pans out. We and negative 5.6 per cent, always been considered a approximately ~17,500-crore cally impossible to provide a
are up between 0.4 per cent and 2.5 per cent, have to see the terms and conditions, revenue respectively. However, this strong defensive holding. worth of APIs in FY20. definitive list now.
shares of Larsen & Toubro rose 0.8 per cent sharing and other details," said Siddhartha trend could change over the This is due to high foreign Local lockdowns and However, the probable
during the same period. Khemka, head of retail research, Motilal next three months, for a vari- exchange earnings, and it is transport issues also led to candidates include Gland
The National Monetisation Plan (NMP), as Oswal Securities. ety of reasons. usually not affected by cycli- disruptions in the manufac- Pharma, Abbott India,
the scheme is called, aims at monetising the A key risk in the brownfield project, The Nifty Pharma is cal factors. turing processes for Indian Laurus Labs, IPCA Labs,
government's brownfield infrastructure to according to Nomura, is the volume of traffic. being extensively reworked. Investors do watch for pharma firms, and transpor- Pfizer, GlaxoSmithKline,
fund greenfield ones. The central idea behind "We also believe the appetite of the private By September 30 it will track two red flags. One is possible tation to markets. The sector Syngene International,
the scheme is to raise more revenues by sector will also depend on other factors like 20 stocks, selected and legal trouble due to intellec- has also been hit by margin Sanofi India, Ajanta Pharma,
monetising existing brownfield infrastruc- the duration of the concessions, institutional weighted on the basis of tual property related cases. pressures. The largest mar- Natco, Alembic Pharma, and
ture assets and channel these additional reve- mechanism for dispute resolution, ability to free-float market capitalisa- The other is adverse reports ket, the US, is seeing lower Glenmark. Several of these
nues into building greenfield infrastructure. operate the projects at commercial rates, reg- tion. That doubles the from the US Food and Drug drug prices. However, the may also be included in the
Analysts said that since the pandemic ulatory and taxation issues, among others," population from the current Administration, which regu- Q1FY22 performance sug- F&O list. While Gland and
began, kickstarting capital expenditure, espe- said Sonal Varma, Nomura's chief economist 10 stocks. larly inspects export facilities gests supply chain issues Laurus have excellent YTD
cially on infrastructure, has been a priority for India and Asia ex-Japan in a note with This inevitably means in India (and elsewhere) for have been sorted out, returns of over 65 per cent
for the government. Aurodeep Nandi. rebalancing on the part of hygiene, quality control, etc. although US margin pres- and Ajanta has returned 37
In a note, Teresa John, Research Analyst Kotak Institutional Equities, in its note, mutual funds, index In Q1FY21, however, the sures remain. per cent, the others have
(Economist), Nirmal Bang, said, "Seasoned said greenfield capacities require enabling watchers, and the pharma sector faced major issues As investors turn cau- underperformed. We could
infrastructure investors are likely to benefit conditions for more extensive funding sup- sector Index exchange- because of global supply tious with the stock market see a trend reversal across
from the monetisation programme while port from the private sector. traded funds (ETFs). It may chain disruption. The seeing churn and profit- this space.
2 THE SMART INVESTOR
>l
NEW DELHI | THURSDAY, 26 AUGUST 2021

Indian indices perform better Stagger annuity purchases

than EM counterparts in 2021 as returns improve with age
Buying in tranches will also help you deal with interest-rate risk
Nifty has gained 17% YTD in dollar terms, best among headline EM indices
SUNDAR SETHURAMAN He added that initial public offer-
ABEER RAY
INCOME YOU CAN GENERATE
Mumbai, 25 August ings (IPOs) in the India market will A retiree runs the risk that she Annuity amount payable monthly (~)
provide foreign investors more alter- could outlive her retirement Plan on investing ~9.97 lakh (plus tax)

T
he Indian markets have out- natives in industries that they could corpus, and only an annuity can
performed their emerging not invest in before. protect against this. There are Bajaj Allianz Life
market (EM) peers on a year- Analysts further said that the many plans one can consider, Guaranteed 6,246
to-date (YTD) basis, supported by a sharp decline in market capitalisa- including Aditya Birla Sun Life Pension Goal
combination of favourable short- tion in China in general and tech- Insurance’s (ABSLI’s) recently
term and medium-term factors. The nology stocks had dragged EMs’ launched single-premium plan ICICI Pru
benchmark Nifty has gained 17 per YTD performance into negative ter- that offers a pension to retirees, Guaranteed 6,052
cent YTD in dollar terms, the best ritory, while developed markets’ per- called Guaranteed Annuity Pension Plan
returns amongst headline EM formance was fairly strong. Plus. Other insurers also offer Tata AIA Life
indices. The Nifty's outperformance For the past few months, the annuity plans (see table).
has been consistent — it has also bet- Chinese market has seen continued “Amid higher life expec-
Insurance Smart 5,966
tered its EM peers over one-month foreign portfolio investor (FPI) tancy, an annuity allows a per-
Annuity Plan
and three-months periods. inflows, which has dwarfed the son to generate a regular HDFC Life
Analysts said the positive news inflows into India. This is despite the income during retirement,” says Pension 5,786
on reduction in daily increase of
Covid-19 cases over the past month MOVING FAST general negative perception around
the Chinese market after recent reg-
Kamlesh Rao, managing direc-
tor and chief executive officer,
Guaranteed Plan
and a revival in economic indicators YTD % ulatory actions against several high- Aditya Birla Sun Life Insurance. Figures are for immediate annuities without ROPP option for a 60-year-old male
Source: Probusinsurance.com
and earnings are the reason for the Index Country PX_Last LCL in $ profile companies in the consumer, Adds Bikash Choudhary,
better performance. Rising expecta- Nifty 50 India 16634.65 19.0 17.1 internet, and luxury sectors. On the appointed actuary and chief risk Annuities don’t have such caps. is taxed at the retiree’s slab rate.
tions of a multi-year investment TAIWAN TAIEX INDEX Taiwan 17045.86 15.7 16.4 other hand, other EMs such as South officer, Future Generali India People retire early nowa- However, the basic exemption
cycle in corporate and household Korea and Taiwan have seen large Life Insurance: “The annuity days—before they turn 60. They limit is higher for senior citizens
segments and excitement around
KOSPI INDEX South Korea 3146.81 9.5 2.1 outflows so far in 2021, while India amount promised at inception can invest in annuities for regu- (~3 lakh) and super senior cit-
the listing of start-ups with exciting STOCK EXCH OF THAI INDEX Thailand 1600.49 10.4 1.0 has seen moderate inflows —FPIs is guaranteed for as long as the lar cash flows. “Both PMVVY izens (~5 lakh). Retirees who
new business models have also JAKARTA COMPOSITE INDEX Indonesia 6113.24 2.2 -0.3 have bought shares worth ~53,169 buyer survives.” and SCSS can only be availed don’t have a high income could
helped the Nifty post stellar returns. BRAZIL IBOVESPA INDEX Brazil 120210.80 1.0 -0.7 crore so far this year. after 60 (above 55 in SCSS for escape paying tax.
“Valuations of the Indian market Some analysts expressed confi- Low rate of return those who have taken voluntary Annuities also carry interest-
FTSE Bursa Malaysia KLCI Malaysia 1569.80 -3.5 -7.7
look full and are supported by expec- dence about a catch-up trade for The rate of return offered by retirement),” says Raj Khosla, rate risk. If a person buys them
PSEi - PHILIPPINE SE IDX Philippines 6822.15 -4.4 -7.9
tations of strong earnings growth emerging markets. annuities can at times be lower founder and managing director, at a time when interest rates
Source: Bloomberg; compiled by: BS Research Bureau
over FY21-23 and stable-to-modestly “Emerging markets have under- than that offered by bank fixed MyMoneyMantra. within the economy are low, he
higher interest rates/bond yields performed quite a lot and money deposits, and schemes for the will have to accept those rates.
over the next few months,” said a virus. This was seen in South Korea, vaccinations continue at a high went to developed markets. Now, elderly like Pradhan Tight lock in
note by Kotak Institutional Equities. Indonesia, Malaysia, Philippines. pace. Economic indicators and there is a feeling that EMs will start Mantri Vaya Vandana A person who invests Compare rates
What has also worked in India’s In India, we had strong retail earnings have started to pickup, to see more inflows once they open Yojana (PMVVY) and in annuities does not Annuity rates vary from one
favour is the enthusiastic participa- flows along with the fact that global and that will carry the markets for- up. We are yet to open up fully to get Senior Citizens Saving get his principal back. insurer to another. “Check the
tion of retail investors. markets have been quite good. So, ward,” said Andrew Holland, chief the full benefits of developed mar- Schemes (SCSS), both of Says Suresh payouts of different players and
“In many EMs there was a slow- we haven’t lost as much as other executive officer of Avendus kets, where people are getting out which offer 7.4 per cent. Sadagopan, founder, go with the one that pays a
down because of the spread of the EMs. And going forward, mass Capital Alternate Strategies. and spending,” said Holland. However, with pro- Ladder7 Financial higher rate for the longest
ducts like fixed deposits Advisories: “The period,” says Naval Goel,
(usually up to 10 years), YOUR money is available only founder and chief executive
PMVVY (10 years), and to the next of kin after officer, PolicyX.com.
Sebi slaps ~6 lakh Sebi orders defreezing of Rana Kapoor’s accounts SCSS (five years), the MONEY the annuitant’s lifetime Purchasing online can also help
rate of return can be (in the return of pur- get a better rate. A person can
fine on Capital First PRESS TRUST OF INDIA
New Delhi, 25 August
Kapoor to recover dues of over Rs
1 crore. The decision was taken
locked in for a limited period.
The retiree faces reinvestment
chase price, or RoPP, option).”
An annuity also does not
also earn a higher rate by opting
for the without-RoPP option.
Sebi on Wednesday imposed a penalty of after Kapoor failed to pay the fine risk in all of them. If rates are provide a safeguard against Avoid buying a plan that ter-
Rs 6 lakh on Capital First Ltd for not dis- Markets regulator Sebi on imposed on him. low when these products inflation. It pays a fixed amount minates at a certain age. Buying
closing encumbrance on shares of Deccan Wednesday ordered defreezing of Sebi, in September 2020, had mature, the retiree will have to (except in the increasing annu- a joint annuity (which will con-
Chronicle Holdings (DCHL). Capital First bank accounts as well as share levied a fine of ~1 crore on Kapoor accept that. With an annuity, ity option), whose purchasing tinue to make payouts to the
(earlier known as Future Capital Holdings) and mutual fund holdings of for not making disclosures regard- the buyer can lock in the current power gets eroded over the spouse after the buyer’s death)
merged with IDFC Bank in 2018 and the Rana Kapoor (pictured), former ing a transaction of Morgan rate for their lifetime. Hence, a years by inflation. is advisable.
merged entity is called IDFC First Bank. MD and CEO of Yes Bank. Credit, which was an unlisted pro- part of a retiree’s income-gener- A buyer who purchases the Stagger your purchases
Sebi found that Capital First did not m- Kapoor is currently in judicial moter entity of Yes Bank. ating portfolio should be without-RoPP option faces the instead of buying at one go.
ake requisite disclosures about the encum- custody after being arrested in The regulator, in March, had In February, the Sebi issued a invested in annuities. risk that if he passes away early, Annuities offer better rates at
brances on shares of DCHL held by them March 2020 in the alleged Yes attached bank accounts, share demand notice to Kapoor, Both in PMVVY and SCSS, a his money gets wasted. higher age. Staggering also takes
to the stock exchanges and DCHL. PTI Bank fraud case. and mutual fund holdings of although he did not pay any dues. retiree can invest up to ~15 lakh. The income from an annuity care of interest-rate risk.
>l
NEW DELHI | THURSDAY, 26 AUGUST 2021 STOCKS 3 <

> STOCK
IN THE > Genera nsurance Corp > Avenue Supermarts > TCS

NEWS Top BSE500 ga ner

snapped 7 days o
H ts resh a -t me
h gh at ~3 843
Market cap crosses
~ 3.5 tr on OF THE DAY
os ng streak on BSE mark Coforge
~ 39 8 PR V OU O ~3 708 9 PR V OU O ~3 6 2 2 PR V OU O H ts new h gh at ~5 249
~ 58 7 O ~3 789 O ~3 659 5 O Up 49 per cent rom
p 3 5% UP p 2 2% UP p 3% UP 3-month ow

NIFTY 50
Company Close (~) % Wt PE Company Close (~) % Wt PE
ADVANCES/DECL NE F&O SNAPSHOT DAY’S TOP GAINERS DAY’S TOP LOSERS
25 Aug ’21 Chg (%) Con Std 25 Aug ’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 720.8 3.6 0.7 26.5 80.4 ITC 206.4 0.3 3.4 19.3 18.6 price price (%) price price (%)
Asian Paints 3038.1 -0.3 1.9 83.5 85.8 JSW Steel 683.9 -1.1 1.2 11.5 12.0 Venkys India 2978.1 2916.2 11.8 3950.0 3950.0 Havells I 1200.0 1204.2 -4.9 958.4 609.1
MOST BULLISH MOST BEARISH
Axis Bank 739.1 -1.0 2.7 31.5 29.7 Kotak Mah Bank 1697.2 -0.5 3.4 33.8 45.7 Burger king 172.4 170.5 5.5 190.0 219.2 Bajaj Finsrv 15850.9 15896.7 -3.5 11412.0 5401.0
Bajaj Auto 3689.7 -0.7 0.7 19.0 21.0 Canara Bank 151.6 151.1 0.4 Nat Alum 80.8 81.2 -0.5 Adani Trans 1300.0 1300.0 5.0 1647.7 1647.7 Indiab Real 136.4 137.2 -3.0 96.0 46.4
L&T 1593.8 -0.7 3.0 18.0 19.0
Bajaj Fin 6945.0 -0.5 2.5 94.8 106.7 ICICI Prud Life 657.3 655.4 0.3 SBI Life Ins 1153.1 1156.2 -0.3 Adani Total Gas 1233.0 1233.0 5.0 1680.0 1680.0 Canara Bank 150.6 151.1 -3.0 141.5 82.3
Mah & Mah 772.1 -0.8 1.0 53.0 94.8
Au Small Fin 1354.2 1350.3 0.3 Indiabulls Hous 222.8 223.4 -0.2 Adani Green En 1001.0 1001.0 5.0 1335.2 1394.0 Sun TV Net 480.3 484.0 -2.7 472.0 381.3
Bajaj Finsrv 15904.4 -3.4 1.3 61.9 1421.0 Maruti Suzuki 6711.5 -1.3 1.2 46.2 41.2 Gujarat Gas 712.7 710.8 0.3 Mindtree 3501.1 3509.3 -0.2 HFCL 65.2 65.2 5.0 95.7 95.7 Titan Company 1820.0 1822.1 -2.5 1564.6 1076.0
Bharti Airtel 612.5 -1.2 2.0 296.8 - Nestle India 19909.9 0.7 1.0 - 86.8 Bajaj Finsrv 15945.9 15904.4 0.3 Trent 914.7 916.8 -0.2 Adani Power 81.1 81.1 5.0 167.1 167.1 DLF 303.0 307.7 -2.4 278.3 142.6
BPCL 460.7 0.9 0.6 6.2 5.4 NTPC 114.0 0.0 0.7 7.6 7.7
Britannia 3842.8 0.8 0.6 54.2 54.1 JSW Energy 226.8 226.8 5.0 258.0 258.0 Wockhardt 435.0 436.6 -2.3 420.3 266.0
ONGC 115.7 2.2 0.8 9.0 9.5
Cipla 912.6 -0.6 0.6 29.0 27.8 BSE NSE Sona BLW Precis 491.0 472.7 4.9 559.7 559.7 Max Fin Sre 1016.5 1021.3 -2.1 922.0 566.6
Coal India 138.9 1.9 0.4 6.2 11.3
Power Grid 175.5 -0.6 0.8 10.2 7.6 Index Stock Index Stock PUT-CALL RATIO Natco Pharma 939.0 934.6 4.2 1188.1 1189.0 ICICI Prud Life 653.4 655.4 -2.0 521.9 397.7
Reliance Ind 2202.6 0.9 9.6 29.0 44.5 Graphite 630.0 626.7 4.1 794.1 815.4 Marico 510.8 512.0 -1.9 458.1 333.3
Divis Lab 4856.5 -0.1 0.8 65.0 64.0 FUTURE (Open Interest in Mn) Put Call PC Ratio
SBI 416.3 -0.3 2.2 14.9 16.3 Adani Ports 725.0 720.7 3.7 901.0 901.0 Gujarat Gas 710.0 711.1 -1.8 508.6 281.0
Dr Reddys 4549.0 -0.8 0.7 43.6 45.9 Contracts - - 426324 1582320
SBI Life Ins 1156.2 -0.4 0.7 - 89.8 Market 1349.2 2673.5 0.5 SBI Card & Pay 1070.0 1064.9 3.6 1140.0 1149.0 Pfizer 5711.1 5727.9 -1.7 5090.6 4200.0
Eicher Motor 2579.5 1.2 0.5 43.0 44.5 Open Int.(000) - - 17096 5140669
Shree Cement 26288.3 0.2 0.5 - 36.4 Escorts 1349.3 1340.4 3.5 1349.3 1468.4 Piramal Entp 2555.6 2562.4 -1.7 1688.0 1178.8
Grasim Ind 1447.7 -0.9 0.7 27.8 56.7 Shares(In Mn) - - 17.3 2920.9 Top 5 PC Ratio Bottom 5 PC Ratio
Sun Pharma 769.1 -0.3 1.1 30.7 91.0 Jubilant Fd 3891.0 3825.0 3.3 4166.4 4166.4 Amara Raja 675.0 675.6 -1.5 675.0 675.0
HCL Techno 1154.4 0.1 1.7 27.4 34.6 Value(~ crore) - - 36476 128823
Tata Consumer P 836.0 -0.1 0.7 107.9 111.5 Tech Mahindra 1.0 Ramco Cements 0.1
HDFC 2699.3 0.3 6.6 26.0 40.7 OPTIONS * Ranked on the basis of percentage gain/loss on previous close
Tata Motors 284.4 1.6 0.7 - - Canara Bank 1.0 MRF 0.1
HDFC Bank 1557.4 -0.1 9.2 27.1 26.8 Contracts - - 64564879 2934807
Tata Steel 1390.2 -1.0 1.5 8.0 8.7 TCS 1.0 Nippon Life Ind 0.2
HDFC Std Life 687.6 2.5 0.9 102.2 114.8
Hero MotoCorp 2674.0 -0.1 0.5 18.3 16.3 TCS 3659.0 1.3 5.1 39.3 40.8
Open Int.(000)
Shares(In Mn)
-
-
-
-
242961
2260.0
3779754
3562.5
Bajaj Fin 0.9 Mah & Mah 0.2 MOST TRADED TOP M-CAP TRENDS
Tech Mahindra 1463.1 0.0 1.2 29.5 32.4 HUL 0.9 Metropolis Heal 0.2
Hindalco 430.7 2.3 0.9 27.8 49.8 Value(~ crore) - - 5610962 250945 Value Volume Rank Company Mcap (~ cr) Company % change Company % change
HUL 2645.0 0.5 3.2 77.7 76.4 Titan Company 1822.7 -2.5 1.0 166.3 134.0 BSE+NSE BSE+NSE
UltraTech 7382.4 -1.0 1.1 33.8 34.3 1 Reliance Ind 1396134.9 BS200 Gopala Poly 40.6
ICICI Bank 691.1 -0.5 6.5 26.1 26.3 (~ crore) (Mn shrs)
IndusInd Bank 1005.6 0.0 0.9 - 23.2 UPL 726.1 -0.7 0.5 18.5 162.7 ACTIVE CALLS ACTIVE PUTS Tata Steel 1848.5 13.2
2
3
TCS
HDFC Bank
1353685.6
861974.2
UP 7 DAYS EKI Energy 40.6
Infosys 1735.6 0.9 8.7 36.4 39.4 Wipro 631.7 -0.3 1.3 29.7 35.8 Adani Total Gas 35.6 Chennai Ferro 40.5
Expiry Strike Traded Open % Chg Expiry Strike Traded Open % Chg Bajaj Finsrv 1655.5 1.0 4 Infosys 739887.4 Linde India 40.5
IOC 106.1 0.2 0.7 4.6 3.9 Nifty 50 16634.7 á0.1 100.0 26.6 29.5 MARKET OVERVIEW (In Million) Date Price Qty Interest (OI) (In Million) Date Price Qty Interest (OI)
Adani Ports 1566.9 21.9 5 HUL 621434.0 Adani Trans 34.7
DOWN 7 DAYS
Index Index 6 HDFC 487511.3 Fortis Health 18.5
INDEX PE SHRS TRDS 1 YR Reliance Ind 1407.0 6.4 Vijay Solvex -30.2
S&P BSE SENSEX AGGREGATES C/S MN ‘000 ADV DEC RETURN Nifty
Nifty
26/08/21
26/08/21
16700 153.9
16800 81.5
6.8
5.6
44.8
17.3
Nifty
Nifty
26/08/21
26/08/21
16600 104.2
16700 79.6
5.1
1.8
41.9
51.4
Bajaj Fin 1093.6 1.6
7
8
ICICI Bank
Bajaj Fin
478828.2
419070.4
HUL
UP 3 DAYS
10.0
Binayak Tex -30.2
SENSEX 30.1/33.2 5.4 160 9 21 44.0 Infosys 1086.6 6.3 Assam Entrade -30.1
Asian Paints 3039.0 -0.2 2.2 83.5 85.8 L&T 1593.4 -0.9 3.5 18.0 19.0 Nifty 26/08/21 16750 81.3 3.5 41.7 Nifty 26/08/21 16650 72.2 1.5 87.4 9 SBI 371441.9 HFCL 12.8
NIFTY 50 26.6/29.5 265.9 4511 21 29 45.0 TechNVision Ven -30.1
Axis Bank 738.9 -1.0 3.2 31.5 29.7 Mah & Mah 772.3 -0.7 1.2 53.0 94.9 Nifty 26/08/21 16650 70.8 3.1 37.9 Nifty Bank 26/08/21 35500 67.6 1.9 7.2 Tata Motors 964.6 33.7 10 Wipro 345826.0 Escorts 12.2
C = CONSOLIDATED; S = STANDALONE Inland Print -30.1
Bajaj Auto 3689.1 -0.7 0.8 19.0 21.0 Maruti Suzuki 6715.8 -1.4 1.4 46.2 41.2 Nifty 26/08/21 16600 61.8 2.9 -23.1 Nifty 26/08/21 16500 66.1 6.9 -0.6 Zomato 935.3 74.2 11á Kotak Mah Bank 336739.5 Nat Alum 11.0
Gita Rebewable -30.1
Bajaj Fin 6942.9 -0.5 2.9 94.8 106.7 Nestle India 19907.4 0.6 1.1 - 86.8 CASH DERIVATIVES Stock Stock Adani Enter 833.1 5.7 12â Bharti Airtel 336358.8 Info Edge 7.8
TURNOVER BSE NSE BSE NSE
Sarthak Indu -30.1
Bajaj Finsrv 15896.7 -3.5 1.6 61.9 1420.4 NTPC 114.0 0.0 0.8 7.6 7.6 Tata Motors 26/08/21 290 37.1 3.6 -26.5 Tata Motors 26/08/21 280 14.6 1.7 -18.0 TCS 804.3 2.2 13 HCL Techno 313304.5 Vedanta 7.7 UP 3 DAYS
Bharti Airtel 612.5 -1.2 2.3 296.8 - Power Grid 175.6 -0.8 0.9 10.2 7.6 VALUE(IN ~ CRORE) 4812 53600 - 6027206 ITC 26/08/21 210 31.9 12.9 -20.2 Tata Motors 26/08/21 285 11.1 1.0 15.9 14 Asian Paints 291496.1 Hindalco 6.7
Linde India 800.8 3.2 BLS Intl Ser 38.5
Dr Reddys 4552.9 -0.8 0.9 43.6 45.9 SHARES(IN MN) 435.4 1916.4 - 8760.7 Tata Motors 26/08/21 300 29.5 6.1 -23.3 SBI 26/08/21 410 9.7 1.9 -48.7 15á ITC 254072.2 SBI Card & Pay 6.3
Reliance Ind 2202.3 0.9 11.2 29.0 44.5 Hindalco 794.8 18.5 Lancer Cont Lin 29.2
HCL Techno 1154.6 0.2 2.0 27.4 34.6 TRADES(000) 2393 18349 - 31284 Tata Motors 30/09/21 300 25.4 11.7 92.2 Tata Power 26/08/21 125 7.7 3.3 -23.2 16â Bajaj Finsrv 252980.1 DOWN
SBI 416.2 -0.3 2.5 14.9 16.3 Coforge 742.1 1.5 S&S Power Sw 26.7
HDFC 2699.0 0.3 7.7 26.0 40.7 SBI 26/08/21 430 23.7 8.3 -19.4 ITC 26/08/21 205 7.6 3.3 -20.9 17 Avenue Supermar 245446.5 Zomato -10.7
Sun Pharma 768.8 -0.4 1.3 30.7 91.0 Prime Focus 26.0
HDFC Bank 1557.0 -0.1 10.7 27.1 26.8 MARKET-CAP (~ CR) TRADED TOTAL SBI 714.9 17.1 18 Axis Bank 226543.0 Coromndl Int -5.8
Tata Steel 1390.4 -1.0 1.7 8.0 8.7 Lasa Supergener 25.1
HUL 2644.9 0.3 3.7 77.7 76.4 Kotak Mah Bank 707.3 4.1 19 L&T 223816.9 Clean Science T -5.4
TCS 3659.5 1.3 5.9 39.3 40.8 BSE 24,249,238 24,370,182 Arvind Fash 17.9
ICICI Bank 690.9 -0.5 7.5 26.0 26.3
IndusInd Bank 1006.1 0.1 1.0 - 23.2 Tech Mahindra 1463.0 -0.1 1.4 29.5 32.4 NSE 23,955,436 24,060,142 SPURT IN VOLUMES IRCTC
ICICI Bank
699.7
674.9
2.7
9.7
20
21
UltraTech
Maruti Suzuki
213122.0
202870.9
Marico
Bandhan Bank
-4.8
-4.8
Lokesh Mach
DOWN 3 DAYS
16.4
Titan Company 1822.1 -2.5 1.2 166.3 133.9 DERIVATIVES 17,684,300 17,684,300
Infosys 1737.2 1.0 10.1 36.4 39.4 Company Days 2-week Avg Change Close *Price 22 Nestle India 191947.2 Berge Paint -3.9
HDFC Bank 617.5 4.0 Maestros Ele & -19.7
ITC 206.4 0.3 4.0 19.3 18.6 UltraTech 7383.2 -1.0 1.3 33.8 34.3 Volume Volume % price %chg 23 Sun Pharma 184446.2 Glenmark -3.7 Rodium Relty -18.4
Kotak Mah Bank 1698.2 -0.4 3.9 33.9 45.7 BSE SENSEX 55944.2 â0.0 100.0 30.1 33.2 TRADING ACTIVITY TCNS Clothing C 2736219.0 52521.0 5109.8 605.0 8.5
Jubilant Fd
Vedanta
608.1
545.5
1.6
18.9
24 Tata Steel 167253.5 Others Pooja Enter -14.2
C = Consolidated; S = Standalone (~ crore) FIIs MF 25 JSW Steel 165457.3 UP 7 DAYS
Grindwell N 1185087.0 74874.2 1482.8 1253.2 -0.5 HDFC Std Life 535.1 7.8 DB Intl Stk -14.2
Equity Debt Equity Debt 26á Adani Enter 162193.0
Net Net Net Net TeamLease Ser 347546.0 26965.1 1188.9 3943.4 -1.7 National Std 40.7 Texel Indus. -14.2
Maruti Suzuki 519.1 0.8 27â Titan Company 161761.6
WORLD INDICES On 24 Aug -30 121 - - Refex Inds 2430854.0 217234.2 1019.0 153.8 19.3 Axis Bank 506.9 6.8 28 Adani Green En 156549.6
S.S.Organics
Adhinath Tex
40.7
40.6
Binny Mills
Svarnim Trade
-14.2
-14.2
On 23 Aug -1355 -140 1768 796 Globe Textiles 1160662.0 117395.7 888.7 10.0 4.7 Canara Bank 506.8 33.2 29á Adani Ports 147148.9
Indices Close % Chg* Indices Close % Chg*
On 20 Aug 517 84 1053 526 Indl Inv Trs 774148.0 80180.7 865.5 65.6 4.5 30â ONGC 145490.9 (T+2) cycleStocks which rose/fell continuously
Bharti Airtel 504.3 8.2
Americas (Aug 24,21) Asia/Pacific (Aug 25,21) On 18 Aug 1103 245 -199 1890 Bajaj Elect 2140476.0 232986.0 818.7 1173.8 2.7
Nasdaq Composite 15019.8 0.5 Taiwan Taiex 17045.9 1.4 On 17 Aug 1927 798 834 769 Hind Rectif 551311.0 60735.5 807.7 183.4 20.0
Aug till date 6691 712 8342 13914 Spandana Sph 910426.0 107001.4 750.9 629.8 1.7
S&P/ TSX Composite
Dow Jones
20547.8
35366.3
0.3
0.1
Kuala Lumpur Comp
Stock Exchange of Thai
1569.8
1600.5
1.1
0.9 2021 till date 50382 -23060 15933 97238 Linde India 3189749.0 383190.7 732.4 2561.5 12.0
BOARD MEETINGS INTRA-DAY
Europe/Africa (Aug 24,21) Shanghai Se Comp 3540.4 0.7 Group Board in their ended June 30, subject please Stratmont: To
IBEX 35 8973.1 0.3 Jakarta Composite 6113.2 0.4 FIIS IN DERIVATIVES 52 WEEK NEW HIGHS/LOWS Company meeting held 2021 find attached consider and
Purpose on July 28, MK Exim: notice of approve the
FTSE 100 7141.4 0.2 Kospi 3146.8 0.3 Company Price Company Price Company Price Company Price
(~crore) Index Stock Index Index Stock 2021. A.G.M. 04/2021-22 Un- Audited
CAC 40 6677.6 0.2 Straits Times 3107.5 - NET Net Fut OI Opt OI OI AUGUST 26 Cranes Soft: Motor & Gen: Board Meeting Standalone Fi-
HIGH *Safari Ind . . . . . . . . . . 844.8 *Redex Protech . . . . . . . 11.0 LOW
DAX 15883.8 -0.1 Volatility (Aug 24,21) BS 200 *Sanco Trans . . . . . . . . 505.9 *Lesha Inds . . . . . . . . . . 10.6 BS 200 Advance Sy: To Quarterly to approve No- to be held on nancial Results
On 24 Aug -4022 3002 0.2 1.6 1.7
Asia/Pacific (Aug 25,21) CBOE S&P 500 17.3 0.5 *Nestle India . . . . . . 20333.8 *Prabhat Tech . . . . . . . 443.5 *Ramgopal Poly . . . . . . . 10.6 Amara Raja . . . . . . . . . . 675.0 consider and Results tice of AGM Di- Thursday 26th of the Com-
On 23 Aug -667 3111 0.2 1.5 1.7
Nikkei 225 27724.8 0.0 CBOE Dow Jones 16.1 -2.7 *Bajaj Finsrv . . . . . . 16807.6 *Kg Petrochem . . . . . . 427.6 *TTI Enter . . . . . . . . . . . . 10.3 Others approve draft Gravity (I): To rectors Report Day of August pany for the
On 20 Aug 7506 500 0.2 1.4 1.7
*Icicitech . . . . . . . . . . 349.0 MTPL . . . . . . . . . . . . . . . . 8.9 Notice of 31st consider and Closure of Reg- 2021 at 11:00 Quarter ended
Hang Seng 25694.0 -0.1 * Change over previous close On 18 Aug -6043 859 0.2 1.2 1.7 *Bajaj Fin . . . . . . . . . . 7052.0 Nxt Digital . . . . . . . . . . 392.0
*Systematix . . . . . . . . . 334.0 *WS Ind . . . . . . . . . . . . . . . 8.6 Annual General take note of ister of A.M. to discuss June 30, 2021
On 17 Aug 4168 1500 0.2 1.8 1.7 *Info Edge . . . . . . . . . 5895.0 ABans Enterpris . . . . . . . 80.1
*TD Power . . . . . . . . . . 309.0 *City Online Ser . . . . . . . . 8.3 Meeting to be the Corporate Members & the business as Technofab: Au-
*Coforge . . . . . . . . . 5248.7 Dhruv Wellness . . . . . . . 77.0
MAJOR INDICES Aug till date
2021 till date
15271
195169
11408
6623
-
-
-
-
-
- *Tata Elxsi . . . . . . . . . 4949.0 Arvind Fash . . . . . . . . . 286.9 *Unitech Inte . . . . . . . . . . 8.0 *Orient Press . . . . . . . . . 62.8
held on Thurs- Governance Share Transfer mentioned in dited Results &
*Lancer Cont Lin . . . . . 272.1 *Shivagrico . . . . . . . . . . . 7.7 day 30th Sep- Report for the Books & other the Notice en- A.G.M.
Previous Close Open High Low Close Change % chng OI in number of contracts(million) *Avenue Supermar . . 3843.4 Gini Silk . . . . . . . . . . . . . . 47.5
*Kabra Extrus . . . . . . . 257.0 *Golden Carpet . . . . . . . . 7.4 tember 2021 at FY 2021-22 and related closed here- TGV SRAAC:
*TCS . . . . . . . . . . . . . . 3697.0 *Maestros Ele & . . . . . . 41.1
1.00 p.m. IST other related matters. with. The date time
S&P BSE Sensex 55,959.0 56,067.1 56,198.1 55,900.0 55,944.2 -14.8 0.0 *Tech Mahindra . . . . . 1477.5 *Precisn Wire . . . . . . . 248.9 Octal Credit . . . . . . . . . . . 7.3 *Photon Capital . . . . . . . 22.0
through Video matters P & G Health: Raw Edge Ind: and venue of
*Wipro . . . . . . . . . . . . . 642.7 *Hexa Tradex . . . . . . . 229.0 *Infronics Sys . . . . . . . . . . 7.0 Acemen . . . . . . . . . . . 17.7
S&P BSE Sensex 50 17,455.5 17,492.3 17,549.0 17,453.1 17,468.8 13.3 0.1
S&P BSE SECTORAL INDICES Others *Gopala Poly . . . . . . . . 212.0 Quantum Buil-Te . . . . . . . 6.8 Shreeshay Engg . . . . . . . 16.0
Conferencing
(VC)/Other
thereon.
India Lease: To
To consider
and approve
A.G.M.
Ritesh Int: To
the Annual
General Meet-
S&P BSE-100 16,837.3 16,877.6 16,920.0 16,830.1 16,850.6 13.3 0.1 *Bajaj Hold . . . . . . . . . 4261.4 *BLS Intl Ser . . . . . . . . . 206.2 *Suncity Synt . . . . . . . . . . 6.3 *Eloora Trading . . . . . . . 12.1 Meeting ac- Asian Tea: ness: To Con- Indagiv Comm: approve Draft
Prev cls Close % Chng Audio Visual Approve Notice Audited Finan- consider and ing (AGM).
S&P BSE-200 7,140.6 7,162.4 7,179.4 7,141.7 7,151.9 11.3 0.2 *Neelamlai Ag . . . . . . 3764.9 *Waaree Renewabl . . . 195.7 *Kavveri Tele . . . . . . . . . . 5.9 *Euro Ledar . . . . . . . . . . 11.7 cordingly as it Quarterly sider and fix the Approval of No- Directors Re-
Means Of AGM Direc- cial Results and approve the Trishkt Elct: To
Auto 22,111.5 22,100.8 0.0 *National Std . . . . . . . 3465.2 *A-1 Acid . . . . . . . . . 194.0 *Scapdvr . . . . . . . . . . . . 5.2 IMP Powers . . . . . . . . . . 10.8 has to be re- Results date, time and tice of AGM port along with
S&P BSE-500 22,392.1 22,467.1 22,523.1 22,405.5 22,440.5 48.3 0.2 (OAVM). tors Report Clo- Statements for Board Report. consider and
Bankex 40,484.9 40,323.9 -0.4 *Forbes & Co . . . . . . . 3299.0 *Faze Three . . . . . . . . . 190.0 *Kakatiya Tex . . . . . . . . . . 4.8 *Shukra Jewl . . . . . . . . . . 8.8 schedule. Chartered Lg: venue for forth- along with annexure
California S: sure Of Register the Financial to consider fix- approve the Di-
S&P BSE IPO 11,934.4 12,004.9 12,121.5 12,001.3 12,039.9 105.6 0.9 Cons. Durables 36,163.8 35,768.2 -1.1 *Linde India . . . . . . . . 2728.0 Sky Gold . . . . . . . . . . . . 189.5 *ISF . . . . . . . . . . . . . . . . . . 4.4 *Aviva Inds . . . . . . . . . . . . 8.6 To consider and coming Annual Boards Report; thereto.
Inter-alia To Of Members & Year ended ing of the date rectors Report
Cap. Goods 23,826.2 23,791.8 -0.1 *EKI Energy . . . . . . . . 2099.0 *Ritesh Prpty . . . . . . . . 185.5 *Sea TV Netw . . . . . . . . . . 4.4 *Future Mar Net . . . . . . . 7.8 AUGUST 27 approve the General Meet- To fix date place Nahar Ind: To
S&P Dollex-30 6,191.8 - - - 6,187.3 -4.5 -0.1 consider ap- Share Transfer June 30 2021 time and place and Secretarial
FMCG 14,144.2 14,219.8 0.5 *Steel Str Wh . . . . . . . 1788.4 Hind Rectif . . . . . . . . . . 183.5 Orosil Smiths I . . . . . . . . . 3.9 *Premier Capital . . . . . . . 7.8 Ashram Onl: To Date Time and ing and approve & venue for consider and
pointment of Books & Other and to consider for holding the Audit Report
Nifty 50 16,624.6 16,654.0 16,712.5 16,617.5 16,634.7 10.1 0.1 Healthcare 25,760.7 25,723.6 -0.1 *Kennametal . . . . . . . 1454.1 *Kotak Nifty ETF . . . . . 176.0 *TV Vision . . . . . . . . . . . . 3.7 *Trinity leag . . . . . . . . . . 7.3 fix date, Time & venue of the en- the notice. 35th AGM approve Swap
merchant Related recommenda- Annual General along with an-
Infra 240.2 243.0 1.2 HAL . . . . . . . . . . . . . 1260.0 *Samrat Forgings . . . . 175.9 *Suraj Ind . . . . . . . . . . . . . 3.1 *Khandel. Ext . . . . . . . . . . 7.1 venue for the suing 26th An- IL&FS Engg: To Inventure ratio in view of
Nifty next50 39,601.8 39,777.2 39,842.1 39,646.0 39,785.0 183.1 0.5 banker and/or Matters. tion of div- Meeting. nexure for the
IT 33,685.3 33,959.4 0.8 *Bajaj Elect . . . . . . . . 1238.3 *AGI Infra . . . . . . . . . . . 171.0 *Smiths & Found . . . . . . . 2.8 *Prism Medico . . . . . . . . . 4.6 30th Annual nual General consider and Growt: To con- SEBI directions
such other pro- McDowell Hld: idend (if any). Shalibhdra F: year ended 31st
Nifty 500 14,063.3 14,103.1 14,145.5 14,070.6 14,093.6 30.3 0.2 Metal 19,739.4 19,800.2 0.3 *Ebbetf0423 . . . . . . . 1147.0 *Megri Soft . . . . . . . . . 168.0 Centerac Techno . . . . . . . 2.5 *Gopal Iron . . . . . . . . . . . 4.3 General Meet- Meeting of the approve the fi- sider other through Stock
fessionals/age To consider Provestser: To A.G.M. March 2021.
Oil & Gas 16,150.6 16,357.0 1.3 *Hatsun Agro . . . . . . . 1056.8 *Deep Polymers . . . . . 159.8 Shivansh Fin . . . . . . . . . . 2.1 *Regal Enter . . . . . . . . . . . 3.6 ing to be held company with nancial results business Exchanges in
India VIX 13.2 13.2 14.0 12.3 13.5 0.3 2.3 ncies in rela- and approve consider and Sparc System: Worth Invest
Power 2,721.8 2,756.3 1.3 *Sonata Soft . . . . . . . . 908.0 *S M Gold . . . . . . . . . . . 135.2 *Ushdev Intl . . . . . . . . . . . 2.0 *Kiran Syntex . . . . . . . . . . 3.5 through video other related for the period matters respect of
tion to the Un-audited fi- approve With Meeting of the &: To decide
Nifty CPSE 1,979.7 1,988.0 2,003.6 1,985.5 1,997.1 17.4 0.9 *Saksoft . . . . . . . . . . . . 899.3 *Continental Che . . . . 123.5 Picturhouse . . . . . . . . . . . 1.9 *Rander Corp . . . . . . . . . . 3.5 Conferencing/O matters. ended March Jigar Cables: To Scheme of
PSU 7,495.8 7,540.9 0.6 right issue ap- nancial results reference to Board of Direc- the date of An-
AVM. Goenka Busi- 31, 2021 consider and Amalgamation
MSE SX 40 32,612.6 32,612.6 32,649.4 32,612.6 32,649.4 36.8 0.1 Realty 3,006.1 2,983.8 -0.7 m m w w proved by the for the quarter the captioned tors nual General

> 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 Inds< 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 (921.8) (921.0) (2280.8) (2280.9)
85 per cent of the volume of categories of information are m ~50 H ~2 Open 922.1 923.0 2280.0 2285.2
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 928.8 929.0 2302.7 2305.0
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 911.7 915.0 2256.0 2255.2
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 916.4 917.7 2270.2 2267.4
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 46302 567K 11160 340K
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 55.9 56.0 21.7 21.6
company name is followed by shares traded, and also the 52 Wk H/L 987/484 987/483 2456/1290 2455/1289
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 33218 33265 42631 42579
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« Adani Trans m m H m H m « m mH H < « « « « m m «
(1437.4) (1437.8) (953.3) (949.7) (694.9) (695.4) (77.3) (77.3) (1174.3) (1182.8) (1238.1) (1238.6)
O 1448.6 1444.3 964.0 954.0 700.0 698.5 81.1 81.1 1233.0 1241.9 1300.0 1300.5 O O
1481.7 1481.8 1001.0 997.2 725.0 725.0 81.1 81.1 1233.0 1241.9 1300.0 1300.5
w 1425.4 1425.0 950.0 954.0 695.8 695.4 80.8 79.0 1233.0 1241.9 1300.0 1300.5 w w
1474.8 1475.4 1001.0 997.2 720.7 720.8 81.1 81.1 1233.0 1241.9 1300.0 1300.5
346K 5361K 47218 2263K 632K 21275K 385K 1799K 8363 119K 2207 84516 K K K K K K K K K K K K K K K
139.3 139.3 - - 26.5 26.5 14.0 14.0 - - 112.1 112.1
W 1718/257 1717/258 1394/420 1390/420 901/312 901/312 167/35 167/35 1680/168 1679/168 1648/232 1645/232 W W
M 162193 162259 156550 155955 147149 147159 31280 31280 135600 136579 142975 143025 M M

Avenue Supermar Axis BankH Bajaj Auto Bajaj FinH Bajaj Finsrv< Balkrishna IH Bandhan Bank Bank of BarodaH Bata India< Berge Paint« Bharat Elctn« Bharat ForgeH Bharti Airtel< BHELH Biocon< BirlasoftH Bosch BPCL
(3708.9) (3708.6) (746.3) (746.3) (3716.1) (3714.8) (6978.8) (6980.1) (16475.3) (16461.7) (2287.6) (2287.4) (265.0) (264.8) (75.5) (75.5) (1708.1) (1708.3) (790.8) (791.0) (177.6) (177.6) (740.7) (741.0) (619.8) (620.1) (53.3) (53.3) (349.6) (349.5) (412.5) (412.8) (13895.2) (13884.0) (456.4) (456.4)
O 3740.0 3750.0 746.5 748.2 3740.0 3731.5 7035.0 7005.0 16549.0 16545.0 2298.0 2296.8 O 265.1 266.0 76.0 75.9 1708.2 1706.5 792.0 793.5 178.5 177.3 744.1 743.2 O 624.0 622.4 53.3 53.3 349.4 350.0 415.0 414.2 13942.9 13890.0 458.9 458.0
3843.4 3847.5 751.5 751.5 3759.4 3760.0 7052.0 7054.0 16807.6 16799.0 2319.9 2350.0 267.5 267.5 76.5 76.5 1743.8 1744.0 797.1 798.0 180.6 180.6 748.0 748.2 624.0 622.4 53.7 53.7 349.5 350.0 421.0 421.0 14060.0 14075.0 464.2 464.4
w 3720.0 3716.2 735.2 735.2 3680.0 3680.0 6920.6 6921.0 15850.9 15850.0 2265.8 2264.0 w 259.4 259.3 74.9 74.9 1695.0 1705.1 780.8 780.6 177.6 177.3 728.8 728.6 w 611.1 611.0 52.6 52.7 343.8 343.9 409.2 409.0 13838.7 13833.0 457.3 457.3
3789.1 3789.7 738.9 739.1 3689.1 3689.7 6942.9 6945.0 15896.7 15904.4 2273.9 2275.0 264.6 264.6 75.2 75.1 1716.8 1717.0 784.3 784.5 180.0 180.0 731.5 731.1 612.5 612.5 53.1 53.1 347.2 347.2 410.4 410.4 13859.3 13865.8 460.6 460.7
32022 332K 103K 6727K 15477 399K 57161 1510K 44231 975K 60058 668K 450K 6945K 1181K 22571K 9902 364K 23930 1000K 331K 5524K 41665 1821K 226K 7978K 6452K 26650K 88389 1712K 52775 1184K 1193 28155 355K 4852K
199.4 199.4 29.7 29.7 19.0 19.0 106.7 106.7 61.9 61.9 32.2 32.2 21.0 21.0 13.4 13.4 - - 99.4 99.5 21.7 21.7 63.6 63.6 296.8 296.8 - - 61.7 61.7 30.1 30.1 47.4 47.4 5.4 5.4
W 3843/1949 3847/1955 800/400 799/400 4361/2823 4361/2822 7052/3009 7054/3007 16808/5401 16799/5400 2558/1237 2559/1238 W 430/251 431/251 100/40 100/40 1785/1258 1778/1257 872/535 873/535 192/86 192/86 847/428 845/428 W 644/394 644/394 80/27 80/27 488/328 488/328 441/154 441/154 16900/11322 16830/11265 494/325 494/325
M 245447 245485 226543 226589 106751 106767 419070 419197 252980 253103 43954 43976 M 42619 42619 38863 38837 22064 22066 76179 76198 43847 43847 34056 34040 M 336359 336359 18472 18490 41679 41679 11393 11395 40871 40890 99916 99937

Britannia« BSEH Cadila Healt« CAMS Canara Bank CDSL CGCELH Chola InvH CiplaH City Union Bk« Coal India Coforge Colgate« Containr Crp< Coromndl Int« Cummins (I)H Dabur India« Deepak NitrtH
(3812.5) (3812.2) (-) (1070.3) (548.8) (548.9) (3181.9) (3183.9) (155.7) (155.7) (-) (1193.7) (454.1) (454.5) (510.4) (510.1) (917.4) (917.7) (146.6) (146.8) (136.3) (136.2) (4941.2) (4942.7) (1648.6) (1648.3) (649.3) (648.4) (784.2) (783.8) (996.2) (996.3) (593.0) (592.8) (2091.4) (2092.4)
O 3824.0 3812.2 - 1071.8 551.8 550.7 3210.0 3205.0 156.4 155.9 - 1191.0 O 455.1 458.0 506.0 510.0 917.5 917.0 146.0 146.0 136.9 136.5 4942.7 4970.0 O 1648.6 1645.0 651.0 649.0 791.0 784.4 1001.0 1004.9 593.7 593.0 2104.0 2102.6
3897.0 3898.0 - 1092.0 555.0 551.3 3226.9 3225.6 156.7 156.8 - 1191.0 466.0 466.3 513.1 513.6 923.3 923.6 147.9 148.0 139.2 139.2 5248.7 5249.8 1677.0 1678.0 653.5 653.8 791.0 791.0 1008.3 1009.2 601.6 601.8 2120.4 2119.4
w 3798.0 3797.0 - 1065.0 540.3 540.5 3163.4 3160.0 150.6 150.5 - 1141.0 w 454.3 454.0 503.8 503.5 906.5 906.0 146.0 146.0 136.7 136.5 4942.7 4962.0 w 1640.6 1640.5 638.4 638.0 772.0 772.1 980.1 987.5 592.2 592.2 2082.7 2081.5
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NEW DELHI | THURSDAY, 26 AUGUST 2021
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NEW DELHI | THURSDAY, 26 AUGUST 2021 5
TH
DEBTS RECOVERY TRIBUNAL -1, DELHI
4 FLOOR, JEEVAN TARA BUILDING, PARLIAMENT STREET, NEW DELHI -110001
Business Standard
DELHI EDITION
OA No. 436/2020
The South Indian Bank Ltd. (Applicant) Printed and Published by Nandan Singh
VERSUS Rawat on behalf of Business Standard
M/s SVP Infrahomes Pvt. Ltd. (Defendants) Private Limited and printed at The Indian
Express (P) Ltd. A-8, Sector-7, Noida,
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To, published at Nehru House, 4 Bahadur
1. M/s SVP Infrahomes Pvt. ltd. Shah Zafar Marg, New Delhi 110002
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Flat No. 1 Vaishali Apartment, Vikaspuri ,New Delhi -110018 E-mail: [email protected]
“or sms, REACHBS TO 57575
Whereas the above named applicant has instituted a case for recovery of Rs.23,85,811.41/-
(Rupees Twenty Three Lacs Eighty Five Thousand Eight Hundred Eleven and Paisa DISCLAIMER News reports and feature
Forty One Only ) against you and whereas it has been shown to the satisfaction of the articles in Business Standard seek to present
Tribunal that it is not possible to serve you in ordinary way. Therefore, this notice is given by an unbiased picture of developments in the
advertisement directing you to make appearance before Ld. Registrar on 26.10.2021 at markets, the corporate world and the
10:30 A.M. ( for further details kindly visit DRT website www.etribunal.gov.in government. Actual developments can turn
Phone Number :011- 23748473). out to be different owing to circumstances
beyond Business Standard’s control and
Take notice that in case of your failure to appear on the above mentioned day before this knowledge. Business Standard does not
Tribunal, the case will be heard and decided in your absence. take any responsibility for investment or
business decisions taken by readers on the
Due to ongoing Pandemic situation , all the matters will be taken up through Video
basis of reports and articles published in the
Conferencing and for that purpose :- newspaper. Readers are expected to form
their own judgement.
(1) All the Advocate/ litigants shall download the “ Cisco Webex” application / Software . Business Standard does not associate itself
(2) “ Meeting ID and Password ” for the next date of hearing qua case to be taken by Registrar with or stand by the contents of any of the
/Recovery Officer -I /and Recovery Officer -II shall be available one day prior to advertisements accepted in good faith and
the next date at DRT Official Portal i.e. “ drt .gov.in” under the Public Notice Head . published by it. Any claim related to the
(3) In any exigency qua, that , the Advocates / Litigants can contact the concerned official at advertisements should be directed to the
Ph. No. 011- 23748473 . advertisers concerned.
Unless explicitly stated otherwise, all rights
Given under my hand and the seal of the Tribunal on this 13th August of 2021 reserved by M/s Business Standard Pvt. Ltd.
Any printing, publication, reproduction,
transmission or redissemination of the
Respondent may contact under mention phone number for further enquiry contents, in any form or by any means, is
Mr. Amit k. Dar prohibited without the prior written consent
ZUARI AGRO CHEMICALS LIMITED
Ld. Registrar of M/s Business Standard Pvt. Ltd. Any such
prohibited and unauthorised act by any CIN: L65910GA2009PLC006177
Drt-1,New Delhi ,
Phone no.-011-23748473 person/legal entity shall invite civil and Registered Office: Jai Kisaan Bhawan, Zuarinagar, Goa 403 726
By order of Tribunal criminal liabilities.
Email:[email protected] Tel: 91-0832-2592431
For Registrar
Debts Recovery Tribunal-1, Delhi No Air Surcharge E-mail: [email protected], Website: www.zuari.in
Notice of the 12th Annual General Meeting scheduled
to be held on Friday, the 17th September, 2021 at
4.00 P.M. (IST) through Video Conferencing ('VC') /
Other Audio Visual Means ('OAVM')
NOTICE is hereby given that the 12th Annual General Meeting (AGM) of the
shareholders of Zuari Agro Chemicals Limited(“the Company”) will be held on
Friday, the 17th September, 2021 at 4.00 P.M. (IST) through Video Conferencing
('VC') / Other Audio Visual Means ('OAVM'), in compliance with the applicable
provisions of the Companies Act, 2013 and Rules framed thereunder read with
General Circular No.14/2020 dated April 8, 2020, Circular No. 17/2020 dated
April 13, 2020, Circular No. 20/2020 dated May 5, 2020 and Circular No.
02/2021 dated January 13, 2021 issued by Ministry of Corporate Affairs,
Government of India (hereinafter collectively referred to as "MCA Circulars")
and the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, to transact the business as set out
th
in the Notice of the 12 AGM.
In pursuance of MCA Circulars and SEBI Circulars dated May 12, 2020 and
January 15, 2021, notice of AGM and the Annual Report of the Company
for the financial year 2020-21 have been mailed electronically on Wednesday,
th
25 August, 2021, to those members whose e-mail addresses are registered
with the Company or the depositories / depository participants / Link Intime
India Private Limited. In compliance with the requirements of the MCA
Circulars and SEBI Circulars, hard copies of the AGM Notice and Annual Report
will not be sent to the members for this AGM.
The AGM Notice and Annual Report are also available on the Company's
website at www.zuari.in and on the websites of the Stock Exchanges i.e.
National Stock Exchange of India Ltd and BSE Limited at www.nseindia.com
and www.bseindia.com respectively. A copy of the same is also available
on the website of Central Depository Services (India) Limited (“CDSL”) at
www.evotingindia.com.
As per Regulation 44 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and Section 108 of the Companies Act, 2013,
read with Rule 20 of The Companies (Management and Administration) Rules,
2014, as amended, the Company is providing remote e-voting facility (“remote
e-voting”) to all its Members to cast their votes on all resolutions in respect of
the businesses to be transacted at the 12th AGM. Additionally, the Company
is providing the facility of voting through e-voting system during the AGM
(“e-voting”). The Company has engaged the services of CDSL as the Authorized
Agency to provide the e-voting facility. Individual shareholders holding
securities in DEMAT mode with CDSL and NSDL please refer the detailed
instructions provided in the Notice of AGM for e-voting and attending AGM.
The shareholders other than individual shareholders holding shares in
demat form and physical form may e-vote by accessing the website at
www.evotingindia.com under shareholders / members login by using the
remote e-voting credentials. The link for VC / OAVM will be available in
shareholders / members login where the EVSN of Company will be displayed.
Detailed procedure for remote e-voting / e-voting and participating the AGM
through VC / OAVM is provided in the Notice of the AGM.
The details pursuant to the provisions of the Companies Act, 2013 and the said
Rules are given here under:
1. Date of completion of dispatch of notice by email: Wednesday, 25th August,
2021
2. Date and time of commencement of remote e-voting: Tuesday,
14th September, 2021 (10.00 a.m.) (IST)
3. Date and time of end of remote e-voting: Thursday, 16th September, 2021
(5.00p.m.) (IST)
4. Remote E-voting by electronic mode will not be allowed beyond
5.00 p.m. (IST) on Thursday, 16th September, 2021. The remote e-voting
module shall be disabled by CDSL after the aforesaid date and time.
5. All members, whose names appear in the Register of Members / Beneficial
owners as on the cut-off date i.e. Friday, 10th September, 2021 are eligible
for availing the remote / e-voting facility. Any person who is not a member
as on cut-off date shall treat this notice for information purpose only.
6. The facility for e-voting shall also be made available to the members
participating in the AGM through VC / OAVM and those members who
have not cast their vote by remote E-voting, shall be allowed to vote
through E-voting in the AGM.
7. The Members who have cast their vote by remote e-voting prior to the
AGM may attend the AGM through VC/OAVM, but shall not be entitled
to cast their vote again. Once the vote on a resolution is cast by the member,
the member shall not be allowed to change it subsequently.
8. Any person, who acquires shares of the Company & becomes member of
the Company after the dispatch of the Notice of AGM and holding shares as
th
on the cut-off date i.e. Friday, 10 September, 2021, may please refer the
voting instructions in the AGM Notice for voting, which is available on the
website of the Company at www.zuari.in, However, if a person is already
registered with CDSL for remote e-voting then existing user ID and
password can be used for casting your vote.
9. In case you have any queries or issues regarding e-voting and attending
AGM through CDSL e-Voting system, contact Mr. Rakesh Dalvi, Sr. Manager,
Central Depository Services (India) Limited, A Wing, 25th Floor, Marathon
Futurex, Mafatlal Mill Compounds, N M Joshi Marg, Lower Parel (East),
Mumbai – 400 013 or send an email to [email protected] or
call on 022-23058542 / 43. Individual Shareholders holding securities in
Demat mode with NSDL facing any technical issue in login can contact
NSDL help desk by sending a request at [email protected] or call at
Toll Free No.: 1800 1020 990 and 1800 22 44 30.
Process for Shareholders whose Email Addresses are not registered:
1. For physical Shareholders - A signed copy of request letter mentioning
details like Folio No., Name of shareholder, Mobile No., email id, that is to be
registered along with scanned copy of the share certificate (front and back),
PAN (self attested scanned copy of PAN card), AADHAR (self attested
scanned copy of Aadhar Card) may be sent by email to the Company at
[email protected] / RTA at [email protected].
2. For Demat Shareholders - Please update your Email ID & Mobile No. with
your respective Depository Participant (DP)
3. For Individual Demat Shareholders – Please update your email id &
Mobile No. with your respective Depository Participant (DP) which is
mandatory while e-Voting & joining virtual meetings through Depository.
For Zuari Agro Chemicals Limited

Sd/-
Vijayamahantesh Khannur
th
Date : 25 August, 2021 Company Secretary
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NEW DELHI | THURSDAY, 26 AUGUST 2021
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NEW DELHI | THURSDAY, 26 AUGUST 2021 7

HIMACHAL PRADESH PUBLIC WORKS DEPARTMENT PUBLIC NOTICE

HEIDELBERGCEMENT INDIA LIMITED
No. PW-DPD-CB-Tender/2021: Dated:-
Regd. Office: 2nd Floor, Plot NO. 68, Sector 44, Gurugram, Haryana-122002
The Executive Engineer Dharampur Division, HPPWD Dharampur Distt. Mandi (H.P) on Ph. +91 0124-4503700, Fax +91 0124-4147699,
behalf of Governor of HP invite the item rate bids in electronics tendering system from the Email Id: [email protected]; Website: www.mycemco.com
eligible class of contractors registered with HPPWD for the work as detailed in the table. We, the Shareholders given that below mentioned Share Certificates of HeidelbergCement
Sr. Name of work Estimated Earnest Starting Date Deadline Time India Limited have been reported lost. Any persons having objections to the issue of
No. Cost Money of down- for submi- Period duplicate share certificates in respect of the said shares should communicate to the Company
(in Rs.) (in Rs.) loading Bid ssion of Bid or Registrars with necessary proof within 15 days from the date of this Notice, failing which
C/O 62.00 Mtr Span the Company will proceed to consider the application for issue of duplicate share
1 steel Bow String bridge 1,71,87,601/- 2,05,000/- 07.09.2021 13.09.2021 Six certificates in our favour and thereafter any objection/s in this matter will not be entertained.
Sun Khad to Purana Months Folio No. Cert Nos. Dist. Nos. Dist. Nos. Shares Name of the Share Holders
Dharampur Bazar From To
The bidder are advised to note other details of tender from the department website
G002377 85582 5008524 5008923 400 Virendra B Gala J/W
www.hptender.gov.in 128241 12861020 12861119 100 Rajendra B Gala
Executive Engineer, Place: Mumbai Name of the Shareholders
Dharampur Division, Date: 26.08.2021 Virendra B Gala J/W, Rajendra B Gala
HP.PWD, Dharampur,
3608/2021-2022 Distt: Mandi (H.P).
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