WEDNESDAY, 16 SEPTEMBER 2020
22 pages in 2 sections
NEW DELHI
~9.00
VOLUME XXVII NUMBER 3
THE MARKETS ON TUESDAY
Sensex 39,044.4
Nifty 11,521.8
Nifty Futures* 11,527.4
Dollar
Euro
Brent crude ($/bbl)
~73.7
~87.5
39.8##
Gold (10 gm)### ~51,685.0
*(Sept.) Premium on Nifty Spot; **Previous close;
# Over previous close; ## At 9 pm IST;
### Market rate exclusive of VAT; Source: IBJA
VIRUS INDIA CASES
TRACKER SET TO CROSS
5-MN MARK
Total 4,930,236
Active cases
990,061 3,859,399 80,776
é3,463
Recovered
é79,292
WORLD Total
29,323,247
Deaths
929,444
NOVAVAX-SERUM INSTITUTE TO
PRODUCE 2-BN VACCINE DOSES
SPICEJET REPORTS
PRE-TAX LOSS OF
~593 CRORE IN Q1
Low-cost airline SpiceJet reported a pre-tax
loss of ~593.4 crore in the first quarter of the
current financial year, against a profit of
~261.6 crore in the same quarter of the
previous year. The loss was on account of
suspension of flight operations for a major
part of the quarter, following the nationwide
lockdown announced by the government to
counter the pandemic. Market leader IndiGo
had registered a pre-tax loss of ~2,849 crore
during the same period. SpiceJet’s operating
revenue was down 83 per cent to ~514.7 crore
for the quarter. 2>
ECONOMY & PUBLIC AFFAIRS P8
RBI for exchange-traded
interest rate derivatives
The Reserve Bank of India (RBI) on Tuesday
proposed to introduce exchange-traded
and over-the-counter interest rate
derivatives that would be accessible to
both foreign investors and retail
participants. However, the latter can only
use the product for hedging, while
non-retail participants can use it for any
purpose. Currently, only interest rate
futures and interest rate options are
allowed on government securities.
COMPANIES P2
High GST rates impeding
volumes: Toyota Motor
Toyota Kirloskar Motor (TKM) will not expand
its capacity further if the GST rate on
automobiles is not reduced. A high tax rate
has been impeding volumes and saddling
the company with unutilised capacity, said
Shekar Viswanathan, vice-chairman, TKM.
Like several others who have a relatively
small footprint, the local arm of the world’s
largest automaker has been hit
hard by the Covid-19 pandemic.
THE SMART INVESTOR PII,1
CAMS IPO upsized 50%
to facilitate NSE exit
The initial public offering (IPO) of Computer
Age Management Services (CAMS) has been
upsized 50 per cent to allow the National
Stock Exchange (NSE) to divest its holdings.
Earlier, the mutual fund (MF) transfer
agency was looking to offload 12.16 million,
or a 25 per cent stake, through the IPO.
Instead, CAMS IPO will now comprise
18.2 million shares — nearly 36 per cent
of its equity base.
COMPANIES P4
20 firms show interest to
rebuild New Delhi station
At least 20 national and international firms
including Socié té Nationale des Chemins
de Fer, Arabian Construction Company,
Anchorage Infrastructure, Adani, GMR
and JKB Infra have shown interest in the
redevelopment of New Delhi railway station.
The Rail Land Development Authority
conducted a pre-bid meeting on Tuesday in
which these industry majors participated.
> RESULTS RECKONER
Quarter ended Jun 30, 2020;
common sample 2,616 companies
(results available of 3,269 )
SALES
Jun 30, ’19 7.3% ~21.91 trillion ì
Jun 30, ’20 -29.3% ~15.50 trillion î
PROFIT BEFORE TAX
Jun 30, ’19 0.8% ~2.20 trillion ì
Jun 30, ’20-59.5% ~88,857 crore î
NET PROFIT
Jun 30, ’19 -2.5% ~1.42 trillion î
Jun 30, ’2 -72.9% ~38,442 crore î
Companies with zero sales excluded; given the change in corporation
tax rates, to give a fair comparison the profit before tax has been
considered; compiled by BS Research Bureau
www.business-standard.com
chg#
p 287.7
p 81.8
p 5.6 ECONOMY & PUBLIC AFFAIRS P8 ECONOMY & PUBLIC AFFAIRS P8
~73.5 **
~87.2 **
38.9 **
INDIA’S ROLE IN PRODUCTION VEGETABLE PRICES SPOIL
p ~497.0
OF VACCINE CRITICAL: GATES TASTE OF FOOD PLATTER
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
LIC expects business to be August exports
INDIA
é83,809
better than last year’s shrink 12.6%,
Deaths
é1,054
Despite the grim economic situation and
in contrast with the sharp contraction
trade deficit hits
four-month high
most Indian companies are expected to
Total cases include 1 witness, Life Insurance Corporation of
migration; figures as
of 9 pm IST; Sources: India (LIC) expects to grow its business in
Ministry of Health
and Family Welfare,
2020-21 (FY21). The insurer is not consid-
Johns Hopkins
Coronavirus
ering scaling down its targets. In a talk
with Subrata Panda, LIC Chairman M R
Imports fall by 26 per cent to $29 billion
Resource Centre
Note: Arrow shows KUMAR speaks of the life insurance sector, SUBHAYAN CHAKRABORTY
one-day change
the company’s
growth targets, gains
“WE DON’T
New Delhi, 15 September
COVID CLOUD
P2 from equity invest-
ment, and the impli- EXPECT MAJOR
After reducing for three months, the
pace of contraction of India’s exports
ON TRADE
in $ bn
cations of the pan- DEFAULTS IN rose in August. Export earnings in the
demic for corporate month declined by 12.6 per cent year
India, in which LIC is OUR on year, higher than July's 10.2 per
heavily invested CORPORATE cent fall, as trade in major foreign
through bonds.
He says economic
BOND exchange earners such as petroleum,
gems, electronics, and textiles con-
activities have been PORTFOLIO DUE and subsequent unlock phases, LIC Life insurance has a direct correlation tinued to take a hit. Outbound trade
on the upswing since TO THE has done a net addition of 60,771 to with economic activities. The lockdown stood at $22.7 billion, completing six
June, when its agency force as of August and its related restrictions due to straight months of contraction.
lockdown started
PANDEMIC. 31 and the number stands at Covid-19 had affected the indus- Earlier, the government had been
being relaxed. He OUR EXPOSURE 1.27 million. However, he is try. Economic activities started hoping to reach a single-digit contrac-
Source: Ministry of Commerce & Industry
also expects TO LOANS IS non-committal on LIC’s looking up once the unlock pro- tion by August, with a tentative
companies with initial public offering while cess started in June. We expect growth forecast for September.
strong fundamentals VERY LITTLE” being open to having more
M R KUMAR the life insurance sector to per- The data for August, released by
in every sector to do banks as corporate agents. Chairman, LIC form well during FY21. the commerce department on
well. However, since people will be Edited excerpts: Tuesday, shows cumulative exports
cautious about spending, insurance, a Given the pandemic, have you in the first five months of the financial
risk-mitigation tool, will have priority in The new business performance scaled down growth targets in FY21? year fell 26.65 per cent compared to
their expenses. of the life insurance sector picked We have set a target of 22 million policies the same period in the previous year.
Insurance, he says, is an agency- up in July and August, after and ~51,300 crore of first-year premium Imports fell by 26.04 per cent to
driven business and LIC is no exception contracting in Q1. How will the from individual businesses. $29.47 billion, after July's 28.4 per cent
to this. Despite the nationwide lockdown sector perform in FY21? Turn to Page 8 > fall. The rate of contraction of imports Petroleum products, the biggest
has continued to reduce over the past revenue earner, registered a 40 per
five months. After witnessing a rare
trade surplus of $800 million in June,
cent decline, albeit better than the
51.5 per cent fall seen in July. After
Metro ridership far the trade deficit climbed to $6.77 bil-
lion, a four-month high. However, the
latest rise was attributed by experts to
stabilising in recent months, indus-
trial products such as engineering
goods again slipped into de-growth.
from pre-Covid level
a 171 per cent surge in gold imports, Shipments of exports of engineering
reflecting pent-up demand as well as goods fell 8 per cent to $19.7 billion,
elevated prices, with expectations of following similar growth in the pre-
further imports in the run-up to the vious month. The sector accounts for
festive season. nearly one-fourth of foreign exchange
DELHI METRO Exports continue to remain ham- earned through exports.
RIDER COUNT strung by the deep economic slow- “The continuous fall in exports in
down induced by the Covid-19 pan- August clearly shows the grave chal-
demic across India's key markets of lenges of the global marketplace,
Suitors opting
Europe, the US, and the Gulf region. which is bearing the huge impact of a
In August, 15 of the 30 major product never-seen-before health crisis, an
out of the race
groups showed growth, down from 16 escalating trade war between the
in the previous month. Only drug
exports continued to capitalise on the
world's two largest economies, and
rising geopolitical risks. It is impera-
for Lavasa Covid-19 pandemic, and saw substan-
tial growth of 17.3 per cent, slightly
lower than July’s 19.5 per cent.
tive for the government to extend its
helping hand,” said Mahesh Desai,
chairman of the Engineering Export
DEV CHATTERJEE However, all other major export cate- Promotion Council.
Mumbai, 15 September gories remained deep in the red. Turn to Page 12 >
Top suitors of Lavasa Corporation, including
Haldiram Snacks Pvt Ltd
and Oberoi Realty, have NO TAKERS
quit the race to acquire
the debt-laden company, | Crash in real
PREPARED FOR ALL ED SEEKS FRANKLIN
Note: Data for September 8 and 13 is not available; Delhi Metro resumed its services on September 7 after
more than 5 months. It became fully operational on September 12. Source: DMRC
citing falling real estate estate prices
prices due to the Covid- worries bidders
EVENTS TO MAINTAIN TEMPLETON CASE
19 pandemic. | No pick-up in SOVEREIGNTY: SINGH DETAILS FROM SEBI
MEGHA MANCHANDA & AMRITHA PILLAY
New Delhi/Mumbai, 15 September
finances went off the rails during
the lockdown.
A subsidiary of con- demand expected in
struction major HCC, next 2-3 years Seeking to portray a strong government Trouble is mounting for Franklin
Delhi Metro Rail Corporation Lavasa had defaulted on
| Lavasa’s
in control of a major national security
challenge, Defence Minister Rajnath
Templeton (FT), as its dealings in six
wound-up mutual fund schemes
A week after it resumed operations, (DMRC) had resumed operations bank loans worth ~7,700
inter-linkages with Singh on Tuesday made a statement in have now come under the
Delhi Metro is showing a pick-up in on September 7 as part of the cen- crore, prompting its
group companies Parliament on China’s incursions across Enforcement Directorate’s
ridership. On September 14, the tral government’s permission lenders to send it to the
are ‘complex’ the Line of Actual Control, vowing to scanner. Sources say the
mass rapid transit network ferried under Unlock 4.0 guidelines. National Company Law
about 250,000 riders. Following a graded reopening, it Tribunal (NCLT) in 2018 | Some potential react forcefully to any ED has sought details of
Though a sharp surge from first restarted the Samaypur Badli- for debt resolution under buyers may make threat to India’s the case from the
8,300 passengers in the first few HUDA City Centre section of serv- the Insolvency and a joint bid sovereignty and Securities and Exchange
hours of its restart on September 7, ices. The other lines were made Bankruptcy Code (IBC). territorial integrity. Board of India. Sebi is
the number is still nowhere close operational in succession before Axis Bank has made the highest claim of ~1,266 “We are prepared for all examining FT’s investment strategy,
to the 6-million average daily rid- the entire network of 400 km was crore against the company. outcomes to ensure that code of conduct, redemptions before
ership of Delhi Metro before the thrown open to the public on According to a banking source, demand for India’s sovereignty is announcing the closure of schemes,
nationwide lockdown kicked in on September 12. Many passengers real estate has dried up due to the pandemic, maintained,” and role of board members and
March 25. But it offers a glimmer of switched to the Metro for their daily with customers as well as companies conserving he said. 18 > trustees while handling risk. 6>
hope to the organisation — its commute. Turn to Page 12 > their cash. Turn to Page 12 >
We don’t profit from hate speech: Facebook India head
PEERZADA ABRAR down around 1.7 million pieces of hate Tech’s responsibility on cyber attacks
Bengaluru, 15 September “IN THE LAST QUARTER OF 2017, speech content around the world. In the
second quarter of 2020, that number
and fake news influencing elections,
Mohan said Facebook had an obligation
Weeks after a controversy broke out WE TOOK DOWN 1.7 MN PIECES was north of 22 million,” said Mohan. to keep people safe on its platform, apart
around Facebook’s political leanings, the OF HATE SPEECH GLOBALLY. IN “So 90 per cent of all content (related) to from following the local law. It’s also
India head of the American social media
giant has said in an interview that the
Q2 OF 2020, THAT NUMBER hate speech that we removed was
picked up by our AI systems before a
relying on fact-checkers which are
tackling misinformation in several
company does not profit from hate WAS NORTH OF 22 MN” AJIT MOHAN user report came in.” languages in India. “We use more fact-
speech while detailing the in-house MD & VP, FB India On allegations about certain checkers in India than most other
checks and balances. The Menlo Park- “THE JIO INVESTMENT executives at the Mark Zuckerberg-led countries around the world.”
headquartered firm was accused of IS A SIGN OF OUR firm having the power to shield a In the past, the firm had faced issues
ignoring a Bharatiya Janata Party
leader’s hate speech on the social media
COMMITMENT political party from the hate speech
rules in India, Mohan said the systems
such as the Facebook–Cambridge
Analytica data breach and the snooping
TO INDIA AND
platform following an advisory from the at Facebook were designed to prevent row where Pegasus spyware was used for
company’s public policy team. THE ROLE DIGITAL such a thing. hacking into Facebook-owned
Ajit Mohan, managing director and
WILL PLAY IN “We do have people who have done WhatsApp instant messenger.
vice president at Facebook India, told work across the political spectrum. But According to Mohan, Facebook is a
Business Standard that most users TRANSFORMING once they’re inside the company, the very different company today than it
including advertisers, stakeholders and INDIA’S ECONOMY” only thing that matters is that we are was two to three years ago, and there is a
the government had been using the neutral, and non-partisan and enforcing lot of emphasis on privacy, which is at
platform to do good and to create our standards objectively,” Mohan the heart of the design of its products or
economic value. community standards in a neutral and standards, even before users could elaborated. “The content policy team in the way it thinks about the policies
“We are clear (about) speech and non-partisan manner,” said Mohan. report on them. The firm also has India sits separate and is independent of related to privacy and cybersecurity.
hate speech in our community Mohan said the company was human reviewers. Some 35,000-odd the public policy team,” he pointed out Facebook is also betting big on the
standards. We are absolutely clear that investing in artificial intelligence and persons are focused only on safety and in an attempt to clarify on the recent India market, while seeking to play a
there’s no tolerance for hate speech and automated systems to be able to detect security, he pointed out . controversy. significant role in the country’s digital
Source: Capitaline that we will objectively enforce these content violating the community “In the last quarter of 2017, we took Responding to a question on Big transformation. Turn to Page 12 >
2 COMPANIES NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020
> JB Chemicals & Pharma > SAIL > TAKE Solutions > PVR > HUDCO
STOCKS Q1FY21 PBT surges Posts Q1 loss of ~1,930 cr Board approves sale Pots Q1 loss before tax of Q1FY21 PBT drops
IN THE NEWS 81% YoY to ~160 cr against profit of ~150 cr of entire stake in its ~342 cr against profit of 47% YoY to ~271 cr
the year-ago period arm, APA Engineering ~28 cr year ago
~896.7 CLOSE ~39.4 CLOSE ~46.4 CLOSE ~1,265.0 CLOSE ~34.9 CLOSE
p8.0% UP* q0.3% DOWN* q6.7% DOWN* q3.4% DOWN* q1.0% DOWN*
*OVER PREVIOUS CLOSE

>

IN BRIEF
Adani Green Energy’s market
valuation crosses ~1 trillion
Will invest ~2,000 cr in Caught in Covid air
pocket, SpiceJet
Adani Green Energy has
entered the club
of companies
commanding a market
NEW HIGHS
Adani Green
(M-cap ~cr)
India: Toyota Kirloskar posts ~593-cr loss
valuation of ~1 trillion,
helped by continuous
High GST rates taking a toll on volumes, says Viswanathan ARINDAM MAJUMDER
rally in its share price. SHALLY SETH MOHILE New Delhi, 15 September DGCA begins special
The company is also Mumbai, 15 September
Adani Group’s most Low-cost airline SpiceJet reported safety audit of

T IndiGo and Vistara

valued firm in terms of oyota Kirloskar Motor (TKM) a pre-tax loss of ~593.4 crore in the
market valuation. At will not expand capacity if first quarter of the current financial
close of trade on goods and services tax (GST) year, against a profit of ~261.6 crore DGCA has commenced special
Tuesday, the company's market valuation was ~1,04,890.62 on automobiles is not reduced. The in the same quarter of the previous safety audit of IndiGo and Vistara
crore on the BSE. Its shares closed at ~670.65, with a gain of 4.99 firm, however, will go ahead with its year. The loss was on account of as part of its ongoing exercise to
per cent on the BSE. The closing price was also its 52-week high. investment plans in India. In his suspension of flight operations for review and assess safety
It was the third-consecutive day of gain for Adani Green Energy. tweet, Toyota Kirloskar Motor a major part of the quarter, follow- mechanism across domestic
On the NSE, the scrip closed 4.99 per cent higher at ~670.80 Chairman, Vikram Kirloskar said: ing the nationwide lockdown airlines in the wake of the recent
Among other group companies, Adani Enterprises has a market “We are seeing the demand increase announced by the government to Air India Express plane crash, a
capitalisation of ~31,405.08 crore, while Adani Ports and Special & the market recover slowly. The counter the pandemic. top official has said. The special
Economic Zone has a valuation of ~71,629.41 crore. PTI future of sustainable mobility is Market leader IndiGo had regis- safety audit of the two airlines,
strong here in India and Toyota is tered a pre-tax loss of ~2,849 crore which began from Tuesday, will
proud to be part of this journey. We during the same period. be conducted across their bases,
BIF: Trai’s decision YouTube jumps on to are investing ~2,000 crore towards SpiceJet’s operating revenue was said the official. PTI
on OTT services short-video space, the electrification of vehicles and down 83 per cent to
helping build a strong India!” ~514.7 crore for the maintained its market share
forward-looking launches Shorts But a high GST rate remains a quarter, against ~3,002.1 of above 16 per cent.
The Trai’s decision to not Competition in the short-video concern for the firm. A high tax rate crore in the same SpiceJet’s revenue
regulate OTT (over-the-top) space in the country continues has been impeding volumes and KEY TAKEAWAYS quarter last year. from cargo increased
communications services is a to intensify with YouTube saddling the company, said Shekar | Company’s second plant Meanwhile, operat- 144 per cent. During
forward-looking approach in being the latest entrant in the Viswanathan, vice-chairman, TKM. operating at one-third capacity ing expenses the lockdown, with
interest of the consumers and segment with its Shorts Like several others that have a came in at commercial flights
will aid the progress of the offering as the Google-owned relatively smaller footprint, the local | Priority remains optimum ~1303.2 crore, against being suspended,
sector that has shown no platform attempts to fill the arm of the world’s largest automaker utilisation of capacities ~2,887.2 crore. SpiceJet began func-
demonstrable and evident void created after the ban of has been hit hard by the pandemic | High tax regime has “The present operating tioning as a cargo operator,
instances of harm or dysfun- TikTok in India. YouTube said it and is struggling to utilise its plants been a deterrent environment on account of having operated more than
ction of the markets, BIF said will continue to add more optimally. Covid-19 though does not reflect the 7,000 flights and transported
on Tuesday. The comments features and expand to more “If the GST rates don’t come true comparison of the current around 50,000 tonnes of cargo
came after the Trai ruled out countries in the coming down, the demand for vehicles can’t “WE ARE SEEING THE DEMAND Ayukawa — managing director at results with those of the correspon- since March 25.
any immediate regulatory months as it learns from users' go up,” Viswanathan told Business Maruti Suzuki India — and several ding quarter last year,” the company Of these 7,000 flights, 40 per cent
intervention for OTT commun- feedback. PTI Standard. INCREASE & THE MARKET other executives made a strong pitch said in a statement. were to international destinations.
ications services like Whats- TKM’s second plant, which has RECOVER SLOWLY. WE ARE for a rate cut. They were assured by SpiceJet reported a loss of ~807.1 SpiceJet’s international cargo net-
App, Google Duo. PTI MobiKwik elevates an existing capacity of 210,000
INVESTING ~2,000 CRORE Cabinet ministers at the meet that crore in the January-March period. work now spans over 44 interna-

Sterlite, Airtel Chandan Joshi as vehicles annually, will remain

to build optical
fibre network
Sterlite Technologies has said it
teamed up with Bharti Airtel to
build an optical fibre network
for the telco across 10 telecom
circles. The new optical net-
work will enable Airtel to deli-
ver enhanced customer, redu-
ced latency, and improved
bandwidth. BS REPORTER
co-founder
Fintech platform MobiKwik
on Tuesday said it has
promoted Chandan Joshi as
the co-founder and CEO of
the company's Payments
business. Joshi has been
part of the MobiKwik
leadership team for the last
2.5 years as senior vice
president, Payments, a
statement said. PTI
largely unutilised and stagnate at
the current level of 30 per cent if the
GST rate remains at an elevated
level. “At this rate, we can never
dream of expanding our capacity,”
he said.
Automobiles categorised as sin
goods, attract 28 per cent GST– the
highest slab. Vehicles with engines
bigger than 2 litres and with a diesel
powertrain attract higher duty, tak-
ing it beyond 43 per cent.
India’s auto industry, which
TOWARDS THE ELECTRIFICATION
OF VEHICLES”
VIKRAM S KIRLOSKAR,
Chairman, Toyota Kirloskar Motor
accounts for 49 per cent of the man-
ufacturing GDP, has been lobbying
for a reduction in GST.
Viswanathan joins several others
who have been batting for a rate cut.
Earlier this month, at the auto
industry’s annual conclave, Kenichi
the case would be put up before the
finance minster.
Viswanathan added that the
company’s product profile in the
future will be hybrids. The rate cut,
he added, will spur volumes and
compensate for the loss of revenue.
“We don’t have latitude to reduce
prices. We have to make some mar-
gins,” he said.
Following a Bloomberg report
that Toyota does not plan to expand
further in India, the company issued
a statement.
“Flight operations were sus-
pended for most part of the quarter.
The partial resumption of flights ini-
tially and the weak demand there-
after were a reminder of the signifi-
cant problems that this pandemic
has resulted in,” Ajay Singh, chair-
man and managing director of
SpiceJet, said.
However, SpiceJet said in a state-
ment that it has the best passenger
load factor amongst all airlines in
the country during the quarter at
66.4 per cent and that the airline
tional destinations.
It said that it is currently operat-
ing 47 per cent of its pre-Covid
schedule after flying resumed.
It said it has operated over 800
chartered and Vande Bharat flights
to help repatriate more than 120,000
stranded Indian citizens from coun-
tries such as the Philippines,
Kyrgyzstan, Russia, the
Netherlands, the United Arab
Emirates, Saudi Arabia, Oman,
Qatar, Lebanon, Bangladesh,
Maldives, and Sri Lanka.

Mumbai airport delays Novavax-Serum Institute to

salary, vendor payments produce 2-bn vaccine doses
ANEESH PHADNIS bank account was frozen by the Central
Mumbai, 15 September Bureau of Investigation and the Enforcement REUTERS over two billion doses by mid-2021.
Directorate. 15 September Novavax's vaccine is currently in Aurobindo gears
Blackstone,
Mumbai airport, which is set for change in “The earned wages of workers are not mid-stage trials after an early-stage
ownership, has delayed employee salaries being paid and they are facing difficulties due US drug developer Novavax Inc said study showed it produced high up for multiple
and vendor payments since July due to a to Covid-19. We will be seeking a clarification on Tuesday it was doubling its levels of antibodies against the
Covid-19 vaccines
court-ordered status quo on the use of from the Delhi HC to allow the operation of
funds in an escrow account. Vendors have the escrow account for payment of wages,”
complained of receiving paltry said advocate Jane Cox, repre-
potential Covid-19 vaccine manufac-
turing capacity to two billion doses
annually under an agreement with
novel coronavirus. The company
plans to begin late-stage trials in the
third quarter.
Hyderabad-based Aurobindo
Pharmaceuticals is gearing up to
Partners Group
sums for their services. Mumbai International senting the workers’ union.
All receivables of the airport Airport has had no Mumbai airport has been
are deposited in an escrow access to funds in the facing stress due to delay in real
Serum Institute of India, sending its
shares up about 7 per cent.
In August, Novavax signed a deal
Last month, Novavax said it will
supply 60 million doses of its coro-
navirus vaccine candidate to the UK
develop multiple Covid-19 vaccine
candidates. It has taken help from
the Department of Biotechnology
in race to buy
account. Mumbai International escrow account since
Airport (MIAL) has had no mid-July, the airport
estate development and rating
downgrades, but Covid-19, too,
with Serum Institute, the world's
largest producer of vaccines, to pro-
beginning as early as the first
quarter of 2021.
for its own vaccine candidate and
has also tied up with the Council of Piramal Glass
access to funds in the escrow operator disclosed in has put paid to its plans. duce a minimum of one The company is also pre- Scientific and Industrial Research
account since mid-July, the air- an affidavit last week Mumbai airport invoked the billion doses of its vac- paring to deliver 100 mil- for the multiple vaccine candidates Parent to seek $1 billion
port operator disclosed in an
affidavit last week.
force majeure clause in March
to suspend the revenue-share arrangement
cine candidate, when
approved, for low- and
lion doses to the United
States by January after it
the latter is developing. Biotec-
hnology Industry Research
valuation from unit sale
The affidavit was filed in response to a with AAI. Under a 2006 agreement, MIAL middle-income countries was awarded $1.6 billion Assistance Council , a not-for-profit BAIJU KALESH AND ANTO ANTONY
petition by the Indian Airports Employees’ pays 38.7 per cent of its revenue to AAI. But and India. for its potential vaccine, enterprise set up by the DBT, has 15 September
Union. The union represents trolley service AAI only agreed to a three-month payment As part of the and has also signed supply facilitated the establishment of the
workers (not direct employees of MIAL) who deferral till July and appropriated revenue expanded agreement, agreements with Canada r-VSV vaccine manufacturing plat- Blackstone Group and Partners Group
moved the Bombay High Court (HC) over share due for July. Aggrieved, MIAL moved Serum Institute will also and Japan. form for Aurobindo. The company Holding AG are the two remaining bidders
non-payment of wages by the airport- Delhi HC seeking an injunction against AAI. manufacture the antigen Other drugmakers such is developing a Sars-Cov-2 vaccine vying for a controlling stake in Piramal
appointed private contractor. On July 15, the Delhi HC ordered status component of the vac- as Pfizer Inc and Moderna through its wholly-owned US- Enterprises Ltd’s glass unit, people familiar
In its affidavit, MIAL said the status quo quo regarding funds in the escrow account. cine, dubbed NVX- Inc have already begun based subsidiary Auro Vaccines, with the matter said.
was ordered by Delhi HC while hearing its On July 24, the court said interim directions CoV2373, which Novavax large late-stage studies of the company said. Aurobindo is The investment firms have progressed
force majeure dispute with the Airports shall continue to operate till pronouncement said will bring its man- their experimental vac- setting up a manufacturing plant to the final round of bidding for India’s
Authority of India (AAI) and denied that its of the judgment. ufacturing capacity to cines. for viral vaccines. SOHINI DAS Piramal Glass, the people said, asking not
to be identified as the information is private.
Billionaire Ajay Piramal’s conglomerate is
seeking a valuation of $1 billion for the unit

Telcos sound alarm over India-specific 5G standards

SURAJEET DAS GUPTA
New Delhi, 15 September
Telecom operators are locked in a bitter battle
with key members of the Telecommunications
Standards Development Society, India
(TSDSI) for trying to push through an
India-specific standard for 5G called
TSDSI Radio Interface Standard or RIT.
The operators would rather go along
with the global standards set by the 3rd
Generation Partnership Project or 3GPP.
The project, which includes all global
telecom and gear makers as members, started by
setting up global 3G standards and is now
handling 5G standards for the globe.
The operators say that the move to have an
India-specific standard will raise the costs not
only of telecom networks but of chipsets for
mobile devices because they will have to be
made for the local market and, as such, will not
enjoy global economies of scale.
They also argue that a separate standard will
lead to serious inter-portability issues such as
Indians not being able to use their Indian phones
in another country.
TSDSI’s proposal also means that it will not be
possible to integrate a 4G network seamlessly
with a 5G network, forcing Indian operators to go
for only independent 5G networks which will be
costly.
from the sale, the people said. Piramal could
name a winner as soon as October, one of
the people said.
Negotiations are ongoing and the invest-
CROSS CONNECTION ITU mandates a requirement of only 3 km.
But they acknowledge that RIT has not drawn
ment firms can decide not to proceed with
offers, the people said. Other bidders could
| Operators want global integrate a 4G network support from global majors in the 3GPP as most also emerge and Piramal could choose to
standards set by the seamlessly with a 5G network of these countries do not have the peculiarities of keep the business, they added.
3rd Generation Partnership | Supporters of an India- a large rural population. Representatives for Blackstone and Piramal
Project or 3GPP specific standard say it will Leading global telecom gear makers who are declined to comment. A representative for
| Telecom gear makers suggest help to spread 5G in rural members of 3GPP echo the same view as that of Partners Group didn’t
that the India standard India and offer affordable Indian operators. immediately return a
should not be made broadband “Even if the RIT standard is accepted in India, Deal is in phone call seeking com-
mandatory it should not be made mandatory. Operators final round, ment.
| TSDSI believes that RIT should be given the freedom to choose between set to name Piramal Enterprises
| TSDSI’s proposal means that (developed at IIT Madras) suits RIT and 3GPP,” says an executive with a leading winner as has been raising funds
it will not be possible to Indian conditions global telecom equipment manufacturer. soon as through debt issues as
In a communication to Ramamurthi, Bharti October well as weighing sales of
Airtel has raised some key issues on the working some of its non-core
Yet another telecom operating company. of the TSDSI proposal on behalf of the industry. units. In June, the group
problem, say TSDSI was set up as an autonomous It has argued that the claim of a 12 km radius agreed to sell a 20 per cent stake in its
operators, is that it will standards body with members from operators, according to the ITU documents has neither Piramal Pharma arm to private equity firm
completely derail India’s telecom gear makers, academia (including the deliberated on nor endorsed. Carlyle Group Inc for $490 million, giving
ambition to be a manufacturing hub of 5G Indian Institutes of Technology in various It would therefore be appropriate for the business an enterprise value of $2.7 bil-
telecom equipment and mobile devices for the cities), chip set makers, R&D centres, and the Ramamurthi, as chairman, to initiate a study lion. Ajay Piramal has also said he intends
world. Department of Telecommunications. and encourage IIT-Madras to subject the to exit his investment in the parent of
“3GPP and RIT are two different standards for TSDSI believes that RIT (developed at IIT technical aspects of the TSDSI proposal to shadow financier Shriram Capital Ltd.,
5G. It is like choosing between CDMA and GSM. Madras) suits Indian conditions. Its Chairman validation. while Piramal Enterprises has recently been
If we adopt RIT, India will remain an island in the Bhaskar Ramamurthi has said that it is designed Bharti Airtel has also complained that the seeking to introduce new investors to shore
world. You won’t be able to roam abroad with the to work in rural areas with low speed mobility TSDSI study group has not published the up the capital for its own shadow lender,
same phone, and chipsets and radios will have to and large cells with a radius of six km. minutes of meetings, as required under the rules. Piramal Capital & Housing Finance.
be designed only for India, increasing costs. Just The latest version has increased this to 12 km. However, Bharti Airtel declined to comment. Piramal Glass makes glass packaging and
like CDMA which died out or WiMax which This could ensure affordable broadband, based The company has asked the chairman, as has factories across the US, India and Sri
started in South Korea but did not take off, RIT on indigenous technology, covering the country. head of TSDSI, to help establish its neutrality Lanka with a total capacity of 1,475 tons per
will meet the same fate,” says a top executive of a Those who back Ramamurthi explain that the and sustainability. day, according to its website. BLOOMBERG
.
NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020 COMPANIES 3
<

Exide CEO: Signs

of green shoots in
PVs, two-wheelers
ISHITA AYAN DUTT
Kolkata, 15 September

Exide Industries — a market

leader in batteries for auto
original equipment manufac-
turers (OEMs) and aftermar-
kets — on Tuesday said at the
company’s annual general
meeting (AGM) that signs of
green shoots were visible in
passenger vehicles and
two-wheelers segment.
“The automobile sector was
not performing at desired levels
for the past two years. A similar
situation continued during
the nationwide lockdown.
However, signs of improvement
in demand are visible, particu-
larly in the low-cost car and
two-wheeler segments. There is
an expectation of improved
demand for the automobile sec-
tor in the upcoming festive sea-
son,” said Gautam Chatterjee,
managing director (MD) and
chief executive officer (CEO).
Many OEMs have registered
improved sales vis-à-vis the
past couple of months, and
these bring back a sentiment of
resolve to the sector, he said.
However, Exide’s dependence
on auto OEMs was less than
20 per cent, and the aftermar-
ket was also not impacted.
Chatterjee said two auto com-
panies — MG Motor (Hector)
MD & CEO Gautam Chatterjee
said many OEMs have posted
improved sales vis-à-vis the
past couple of months
and Kia Motors (Seltos) — have
been using Exide batteries.
Business volumes of other
institutional segments were
also gradually picking up; pro-
ductions in factories were get-
ting back to normal. Exide has
a strong market share in most
of the industrial business divi-
sions except for the telecom
sector. The company’s sales to
the telecom sector were sub-
dued as mergers and acqui-
sitions of telcos led to a rational-
isation of towers.
The financial stress in the
Indian telecom sector speeded
up consolidation of the indus-
try, and our country witnessed
a number of shutdowns and
mergers of telcos and
tower infrastructure firms,
Chatterjee said.

After a fall,
occupancy
at Apollo
Hospitals see
rapid rise
Apollo Hospitals has said that
occupancy levels have
increased to around 60 per
cent in September, from
38 per cent in June.
The hospital chain added
that it has taken various cost-
saving measures, which will
help the company save
around ~200 crore during the
current year.
During an investor call on
Tuesday, Suneeta Reddy,
managing director (MD),
Apollo Hospitals Group, said
the last six months have been
one of the most challenging
in the history of Apollo.
Outpatient volumes were
impacted and there was also
a significant drop in surgical
volumes. This was due to the
lockdown and fear of infec-
tion among people.
On a consolidated basis,
revenue from operations
de-grew 16 per cent to ~2,172
crore for the April-June
quarter, against ~2,572 crore
in the same period last year.
The company posted a net
loss of ~226 crore for the
April-June quarter, against
a net profit of ~49 crore in
the same quarter of the
previous year.
“Trends are looking much
better and we expect the
company to turn green by the
end of the year from red,” she
said, adding that over the
past few months, things have
started showing improve-
ment as the country started
opening up and people’s
movement started.
Occupancy rate rose to
around 60 per cent, from
55 per cent in August. It was
47 per cent in July and 38 per
cent in June. She added that
international patients have
also started coming from
neighbouring countries and
Apollo is working with few
chartered flight providers for
travel. T E NARASIMHAN

Tata-backed
CashKaro
raises $10 mn
Cashback and coupons start-
up CashKaro, India’s largest
cashback and coupons site,
has secured $10 million in a
Series B funding round led by
Korea Investment Partners
and existing investor Kalaari
Capital. This fresh funding
takes the total amount raised
by the Gurugram-based start-
up to $15 million. The firm
would be utilising the fund to
scale up marketing, open up
new brand-building avenues,
user-acquisition, product
development, and hiring
new talent.
SAMREEN AHMAD
4 COMPANIES
>
NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020 1

Flipkart looks to create 70k

jobs this festive season
Additional indirect jobs will be created at seller-partner locations and kiranas
PEERZADA ABRAR
Bengaluru, 15 September

E
-commerce giant Flipkart said it
will help generate over 70,000
direct and millions of indirect
seasonal jobs as it gears up for the
upcoming festive season and its Big
Billion Days (BBD).
This would create direct job oppor-
tunities across the Walmart-owned
company’s supply chain, including
delivery executives, pickers, packers,
and sorters. Additional indirect jobs will
be created at Flipkart’s seller-partner
locations and kirana stores, the firm
said. This will be supplemented by job
creation at ancillaries like vendor
locations, freight partners, as the entire IT’S A FULL CART
ecosystem scales up.
“We are focused on creating impact- | Requires investments | Conducts training management
ful partnerships that offer great for capacity, storage, programmes for and packaging
consumer experience while creating sorting, packaging, its direct hires in | Has a technology-
additional opportunities for progress human resources, various aspects enabled supply chain,
of the entire ecosystem as it scales up training, and delivery of the supply delivering millions
for the BBD,” said Amitesh Jha, chain
senior vice-president, Ekart and
| Will collaborate with of shipments across
Marketplace, Flipkart. more than 50,000 | Provides separate 100 per cent
“As a front runner in e-commerce, kiranas for last-mile training in the serviceable
our training and investment in the work- delivery area of warehouse pincodes
force is widely recognised, and contrib-
utes to skill development and enhances
employability. By generating employ- programmes for its direct hires on training in warehouse management and
ment and enabling our sellers to scale various aspects of supply chain man- packaging. The hiring and upskilling is
up their businesses during this time, agement through a mix of classroom being done, following the central
we’re doing our part to drive growth in and digital training. These include government’s National Skill
the industry and the economy.” customer service, delivery, installation Development Mission.
BBD requires investments for capac- and safety, and sanitisation measures, Flipkart said it has a tech-enabled
ity, storage, sorting, packaging, human along with the handling of handheld robust supply chain, delivering millions
resources, training, and delivery. The devices, PoS machines, scanners, of shipments across 100 per cent
onboarding of more than 50,000 kirana various mobile apps and enterprise serviceable pincodes serving millions
stores by Flipkart for last-mile resource planning. of consumers. The company said it
delivery will also create thousands of For millions of seller-partners, has created millions of local job oppor-
seasonal jobs. micro, small and medium enterprises tunities over the years through its
Flipkart is conducting training and artisans, Flipkart provides separate supply chain.

Nasscom sees red over Dilip Cherian

data governance report
SAI ISHWAR
Mumbai, 15 September
Information technology
industry body Nasscom
has identified certain
gaps in the non-personal
data (NPD) draft report,
saying that it may require
further detailing and
reconsideration.
The body said mandat-
ing data sharing could
reduce incentives to
invest in the collection
and processing of data,
the very purpose that is
sought to be encouraged
through the framework.
“This obligation (to share
data) could put the Indian
start-ups at a disadvan-
tage in their ability to
raise funds or compete, as
The data-sharing obligations could place India at risk,
given that this may not exist in other jurisdictions
(countries) and such
outcomes would be
undesirable, it added.
Nasscom has recom-
mended that the scope of
NPD being considered for
mandatory sharing be
limited to only certain cat-
egories, with high social,
economic and public
value, as may be identi-
fied by the committee
sitive data, and algo-
rithms and source code.
A panel headed by
Infosys co-founder Kris
Gopalakrishnan sought
public comments on the
draft NPD governance
framework rules in July. In
its draft recommenda-
tions, the panel had sug-
gested that NPD generated
in the country be allowed
opts out of
Taj GVK board
Dilip Cherian, founder of Delhi-based
Perfect Relations that handles the pub-
lic relations account of Cyrus Mistry-
controlled Shapoorji Pallonji (SP)
group, has sent his regrets to GVK say-
ing he would not be able to join the
board of Taj GVK Hotels, a joint venture
between the Tatas and GVK group.
The move comes just days after the
hotel company said in a regulatory fil-
ing on September 10 that the board had
approved Cherian’s appointment as a
director for five years. It would be sub-
ject to approval in an annual general
meeting, the filing said.
Cherian, confirming the develop-
ment, said: “I am not joining the board
and have expressed regret to this effect
already.”
The appointment came as a surprise
as the SP group, which is a minority
shareholder in Tata Sons, has been

Kkalpana Industries (India) Limited

they would eventually based on well-established to be utilised by various waging a legal battle with the Tatas
need to share their data," use-cases. It has also rec- domestic firms and orga- after Mistry was ousted as chairman of
said Nasscom. The data- ommended the creation nisations. The panel had the Tata Sons.
Regd Office: 2B, Pretoria Street, Kolkata – 700 071
sharing obligations could of a ‘negative list’ of NPD also recommended setting The Tatas have around 26 per cent
Telephone: 91-033-2282 3744/3745/3699/3671, Fax: 91-033-2282 3739
generally place India at a that may be explicitly up of a new authority stake in Taj GVK and Indian Hotels
E-Mail: Kolkata@kkalpana.co.in, Website: www.kkalpanagroup.com
disadvantage, given that excluded from the scope which would be empow- Company Limited Managing Director
CIN: L19202WB1985PLC039431
such obligations may not of regulation, including ered to oversee the usage Puneet Chatwal is on the board of the
EXTRACT OF UNAUDITED FINANCIAL RESULTS FOR THE 01ST QUARTER ENDED 30TH JUNE, 2020. exist in other jurisdictions all foreign data, price-sen- and mining of such NPD. company. SURAJEET DAS GUPTA
Rs. In Lacs (except per share data)
STANDALONE CONSOLIDATED
Sl Quarter ended Year ended Quarter ended Year ended

No.

1 Total Income from Operations

PARTICULARS 30.06.2020

22862.35
30.06.2019
(Un-audited) (Un-audited)

49481.59
31.03.2020
(Audited)

176221.02
30.06.2020 30.06.2019
(Un-audited) (Un-audited)

22868.11 48171.83
31.03.2020
(Audited)

174469.55
Adani, GMR among 20 firms keen
2 Net Profit/(Loss) for the period (before Tax, Exceptional and /or
Extraordinary items)
3 Net Profit/(Loss) for the period before Tax, (after Exceptional and /or
Extraordinary items)
16.61

16.61
931.70

931.70
3032.61

3032.61
19.97

19.97
938.02

938.02
2973.91

2973.91
on revamping New Delhi rly station
4 Net Profit/(Loss) for the period after Tax, (after Exceptional and /or SHINE JACOB with segregation of arriving
Extraordinary items) 6.54 605.25 3063.79 9.02 610.33 3022.29 New Delhi, 15 September and departing passengers,
5 Total comprehensive income for the period (Comprising profit/(loss) for the refurbished platforms with
period (after tax) and other comprehensive income (after tax)) 6.54 605.25 3046.28 9.02 610.33 3004.78
At least 20 national and inter- easy access from the concourse
6 Net Profit after Tax and Share of Profit of Subsidiary/ Associate 9.28 611.52 3022.48
7 Equity Share Capital 1881.46 1881.46 1881.46 1881.46 1881.46 1881.46
national firms, including level, mezzanine level exclu-
8 Reserves (excluding Revaluation Reserve) as shown in Audited Balance Société Nationale des Chemins sively for passenger facilities
Sheet of the previous year 32746.5 32624.9 de Fer Français, Arabian such as lounges, an elevated
9 Earnings per share (of Rs. 2/- each) (for continuing and discontinuing Construction Company, road network with multiple
operations) Anchorage Infrastructure entry and exit points, a multi-
Basic: 0.01 0.64 3.26 0.01 0.65 3.21 Investments Holdings, Adani, level car parking facility, and
Diluted: 0.01 0.64 3.26 0.01 0.65 3.21
GMR, and JKB Infrastucture, green building provisions, such
Notes:
have evinced an interest in the as optimum use of natural ven-
1) The above is an extract of the detailed format of Un-audited Financial Results(Standalone & Consolidated) for the 01st quarter ended 30th June, 2020 filed with the Stock
Exchanges under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. The full format of the Un-audited Financial Results(Standalone
redevelopment work of New tilation and lighting, will be
& Consolidated) for the 01st quarter ended 30th June, 2020 are available on the website of BSE Ltd at www.bseindia.com & Calcutta Stock Exchange Limited at www.cse- Delhi railway station. some of the key highlights of
india.com and that of the Company at www. kkalpanagroup.com The Rail Land the redeveloped station.
2) The Un-audited Financial Results(Standalone & Consolidated) for the 01st quarter ended 30th June, 2020 have been reviewed by the audit committee and have also been Development Authority The station is the largest
approved by the Board of Directors at their respective meeting held on 14th September , 2020. The statutory Auditor has given Limited Review Report for the above financial (RLDA) has invited online bids and second busiest in the coun-
results
from private players to rede- try and handles approximately
3) The company is engaged primarily in the business of different grades of plastic granules which constitute single reporting segment Accordingly, the company is a single
segment company in accordance with "Indian Accounting Standards 108 Operating Segment".
velop the station into an inte- The Rail Land Development Authority has invited online bids 450,000 passengers daily
4) The figures for the corresponding previous period has been re-grouped / re- classified wherever necessary, to conform to the current period figures. grated commercial, retail, and from private players to redevelop the station into an integrated (approximately 160-170 million
5) In March 2020, the World Health Organisation declared coronavirus (Covid- 19) to be a pandemic and consequently on 24th March, 2020, the Government of India ordered hospitality hub. commercial, retail, and hospitality hub passengers annually).
a nationwide lockdown which got extended in phases.The outbreak of Covid-19 pandemic in India has caused significant disturbance and slowdown of economic activities. The objective of this ambi- It also handles 400 trains
The Company's business operation have been impacted by way of interrruption of production, supply chain etc.“The Company has taken various precautionary measures tious project is to position the interest from leading global senger handling fees collected per day, which are expected to
to protect its employees from Covid-19. The company has assessed the impact of this pandemic on its business operations and and has considered all relevant internal and station as a multi-modal hub firms. The project aims to via ticket sales, revenue from increase due to higher opera-
external information available upto the date of approval of these financial results. In determining the recoverability and carrying values of Property, Plant and Equipment,
Intangible assets, Investments, Trade and Other Receivables,Inventories and other financial statement captions. The impact of Covid-19 pandemic on the overall economic
through overhauling of infras- transform New Delhi railway passenger facilities within the tional efficiencies resulting
environment being uncertain, may effect the underlined assumptions of estimates used in preparation of these financials resulting whereby actual outcome may differ from tructure and provision of state- station into a world-class tran- station, such as retail areas, from the redevelopment and
those assumptions and estimates considered at the date of approval of these financial results. The company will continue to closely monitor the situation and any material of-the-art amenities, such as an sit hub, in line with Prime lounges, parking, advertise- better yard utilisation.
changes to future economic condition. From mid of April, the Company has resumed it business activities in phased manner, in line with directives issued by the Central elevated concourse and multi- Minister’s vision of New India. ment spaces, and income from RLDA is currently working
and concerned State Government.
level car parking. The project This station will be a one-stop the development and lease of on 62 stations in a phased
6) The Consolidated Results includes Result of a) The Company's Wholly owned Subsidiary Company viz :Plastic Processors and Exporter Private Limited (b) Asoociate
Company viz. Kkalpana Plastick Ltd, in which the company holds 36.23% of its paid up Equity Share Capital
will be developed on a design- destination for retail, commer- commercial components. manner, while its subsidiary,
build-finance-operate-transfer cial, and hospitality. It will also The phased redevelopment Indian Railway Stations
FOR KKALPANA INDUSTRIES (INDIA) LTD
SD/-
model for a concession period boost real estate and ensure encompasses station redevel- Development Corporation,
Place : Kolkata MR. NARRINDRA SURANNA of 60 years. cascading development of New opment, development of asso- has taken up another 61 sta-
Date: 14th September, 2020 (DIN: 00060127) It is expected to incur a cap- Delhi and surrounding ciated infrastructure, reloca- tions. In the first phase, RLDA

Continuous Excellence Through Performance

ital expenditure of around regions,” said Ved Parkash tion of social infrastructure as has prioritised prominent sta-
~6,500 crore and is slated to be Dudeja, vice-chairman, RLDA. well as the refurbishment of tions like New Delhi,
completed in four years. “The The concessionaire will railway offices and railway Tirupati, Dehradun, Nellore,
redevelopment of New Delhi earn revenue from several quarters. Food courts and rest- and Puducherry for redevel-
railway station has attracted components, including pas- rooms, an elevated concourse opment.
Business Standard NEW DELHI | W E D N E S D A Y 16 SEPTEMBER 2020 5
antp
Bank of Maharashtra Head Office: "Lokmangal" 1501,
NETWORK LIMITED
Shivaji Nagar, Pune 411 005 Registered office: W-39, Okhla Industrial Area, Phase-ll, New Delhi -110020
Telephone No.: +91-11-41067060, CIN: L32209DL1989PLC034797; Website: https://www.networklimited.net
14/09/2020 AX1 /I RM/EOI092020/IRM
POST-OFFER ADVERTISEMENT INACCORDANCE WITH REGULATION 18(12) OFTHE SECURITIES AND EXCHANGE BOARD
Expression Of Interest (EOI)
Bank of Maharashtra invites Expression Of Interest (EOI) from eligible J a SPEAKS
OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011, AS AMENDED ("SEBI (SAST)
REGULATIONS")
bidders for Information Security Audit of Various IT Services and OPEN OFFER FORACQUISITION OF UPT01,72,01,975 (ONE CRORE SEVENTY TWO LAKH ONE THOUSAND NINE HUNDRED
branches. The details would be available from 16/09/2020 on Bank's AND SEVENTY FIVE) FULLYPAID UP EQUITY SHARES OF RS. 2 EACH OF NETWORK LIMITED, HEREINAFTER REFERRED TO
website https://www.bankofmaharashtra.in in the Tenders Section. AS "TARGET' OR 'TARGET COMPANY" OR "NETWORK") FROM THE PUBLIC SHAREHOLDERS OF THE TARGET COMPANY
Bank reserves the right to cancel or reschedule the EOI process without BY M/S ANUSHI RETAIL LLP ("ACQUIRER"), MR. ANUJ SAWHNEY ("PAC1"), MRS. ASHITA SAWHNEY ("PAC 2"), M/S SWISS
assigning any reason. c h i e f information Security Officer,
MILITARY LIFESTYLE PRODUCTS PRIVATE LIMITED ("PAC 3") (PAC 1, PAC 2 AND PAC 3 HEREINAFTER COLLECTIVELY
Integrated Risk Management REFERRED TO AS THE "PACs") ("OFFER" OR "OPEN OFFER")
This Post-Offer Advertisement ("Post-Offer Advertisement") is being issued by Turnaround Corporate Advisors Private Limited,
("Managerto the Offer"/"Manager"), on behalf oftheAcquirerand the PACs, pursuant to and in compliance with Regulation 18(12) of the
SEBI (SAST) Regulations. This Post-Offer Advertisement is to be read in continuation of and in conjunction with: (a) The Public
Announcement dated June 18,2020; (b) The Detailed Public Statement ("DPS") dated June 24,2020 published on June 25,2020 in all
editions of "Business Standard (English)", all editions of "Business Standard (Hindi)", Mumbai edition of "Mumbai Lakshadeep
Infers* (Marathi)'(being the place of the Stock Exchange, where Equity Shares of the Target Company are listed); (c) Letter of Offer ("LOF")
dated August 01,2020; (d) The Corrigendum to the Detailed Public Statement dated August 06,2020 ("Corrigendum") published on
Navigate your next
August 07,2020 in all editions of "Business Standard (English)", all editions of "Business Standard (Hindi)", Mumbai edition of "Mumbai
Infosys Limited Lakshadeep (Marathi)'(being the place of the Stock Exchange, where Equity Shares of the Target Company are listed) and (e) The
Dispatch Advertisement ("Advertisement") dated August 10,2020 published on August 11,2020 in all editions of "Business Standard
Corporate Identity Number (CIN): L85110KA1981PLC013115
(English)", all editions of "Business Standard (Hindi)", Mumbai edition of "Mumbai Lakshadeep (Marathi)'(being the place of the Stock
Regd. Office: Electronics City, Hosur Road, Bengalum - 560100.
Exchange, where Equity Shares of the Target Company are listed).
Phone: 91 80 2852 0261, Fax: 91 80 2852 0362
investors@infbsys.com, www.infosys.com 1. Name of the Target Company Network Limited
2. Name of the Acquirer(s) and PAC M/s Anushi Retail LLP ("Acquirer"), Mr. Anuj Sawhney ("PAC 1"),
NOTICE Mrs. Ashito Sawhney ("PAC 2"), M/s Swiss Military Lifestyle Products
This is to inform y o u that a meeting of t h e Board of Directors Private Limited ("PAC 3") (PAC 1, PAC 2 and PAC 3 hereinafter
collectivelyreferredto as the "PACs")
of t h e C o m p a n y will b e held o n T u e s d a y a n d W e d n e s d a y ,
3. Name of the Managerto the Offer Turnaround Corporate Advisors Private Limited
O c t o b e r 1 3 a n d 14, 2 0 2 0 inter alia to:
4. Name of the Registrarto the Offer Alankit Assignments Limited
1. A p p r o v e a n d t a k e o n record t h e audited consolidated 5. Offer Details
financial results of t h e C o m p a n y a n d its subsidiaries a s a. Date of Opening of the Offer Monday, Auqust17,2020
per Indian Accounting S t a n d a r d s ( I N D A S ) for the quarter b. Date of Closure of the Offer Friday, Auqust28,2020
a n d half y e a r ending S e p t e m b e r 3 0 , 2 0 2 0 ; 6. Date of Payment of Consideration Thursday, September 10,2020*
# Settlement Dateforpayment to the Shareholders who have tendered their Equity Shares in the Offer.
2. A p p r o v e a n d take o n record t h e audited standalone
financial results of t h e C o m p a n y a s per I N D A S for t h e 7. Details of Acquisition
quarter a n d half y e a r ending S e p t e m b e r 3 0 , 2 0 2 0 ; S. No. Particulars Proposed in the Offer Document Actual

3. Approve a n d take on record t h e audited financial 7.1 Offer Price (A) Re. 1 per equity share Re. 1 per equity share
7.2 Aggregate number of shares tendered (B) 1,72,01,975 1,53,62,262
s t a t e m e n t s of t h e C o m p a n y a n d its subsidiaries a s per
7.3 Aggregate number of shares accepted (C) 1,72,01,975 (Assuming Full 1,53,62,262
I N D A S a n d I F R S for t h e quarter a n d half y e a r ending
Acceptance in the Offer)
September 30, 2 0 2 0 and
7.4 Size of the Offer (Number of shares Rs. 1,72,01,975 R.>. 1,53,62,262
4. Consider declaration of interim dividend, if any. Insight O u t multiplied by offer price per share) (A * C)
7.5 Shareholding of the Acquirer before
T h e financial results a n d proposal for interim dividend, if any,
Agreements/ Public Announcement
will b e presented to t h e Board of Directors on O c t o b e r 1 4 , To book your copy, call 0 2 2 4 0 2 7 5 4 3 2 or SMS r e a c h b s to 5 7 5 7 5 or email us at o r d e r @ b s m a i l . i n • Number 1,19,89,200 1,19,89,200
2 0 2 0 for their approval.
[ 1 bsindia H bsmma www.business-standard.com e % of Fully Paid Up Share Capital 24.39% 24.39%
T h e details will b e m a d e available on t h e w e b s i t e o f t h e 7.6 Shares Acquired by way of Agreement
C o m p a n y - www.infosys.com • Number Nil Nil
For Infosys Limited • % of Fully Paid Up Share Capital Nil Nil

RISHI TECHTEX LIMITED

Sd /- 7.7 Shares Acquired by way of Open Offer
September 15, 2020 A.G.S. Manikantha CIN : L28129MH1984PLC032008 • Number 1,72,01,975 1,53,62,262
612, V K. Industrial Estate, 10-14 Pais Street, Byculla (W), Mumbai 400 011 e % of Fully Paid Up Share Capitol 35.00% 31.26%
Bengaluru, India Company Secretary
Tel. No. (022) 23075677 / 23074585, Fax No. (022) 23080022 7.8 Shares acquired after Detailed Public
Email : info@rishitechtex.com Website : www.rishitechtex.com Statement (excluding shares acquired under
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 th JUNE 202
Open Offer)
(T In Lacs)
e Number of shares acquired Nil Nil
Quarter Ended Year Ended
• % of the shares acquired
QTR^hr ftyrf # c j ) Particulars 30.06.2020 30.06.2019 31.03.2020 31.03.2020 Nil Nil
Unaudited UnAudited Audited Audited • Price of the shares acquired Not Applicable Not Applicable
RESERVE BANK OF INDIA Revenue from Operations 700.28 1862.70 2002.90 7622.39 7.9 Post offer share -holding of Acquirer
www.rbi.org.in Profit / (Loss) before exceptinal items and Tax -151.20 78.74 44.73 221.54 • Number 2,91,91,175 2,73,51,462
Profit / (loss) after exceptions items and before tax -151.20 78.74 44.73 221.54 • % of Fully Paid Up Share Capitol 59.39% 55.65%
Auction of Government of India Dated Securities Profit (Loss) for the period from continulng operations -151.20 54.74 -27.96 99.66 7.10 Pre & Post offer shareholding of the Public Pre-Offer Post Offer Pre-Offer Post Offer'
for ? 30,000 crore on September 18,2020 Total Comprehensive Income for the period / • Number 2,78,03,715' 1,06,01,740' 2,78,03,715' 1,35,53,853*
T h e Government of India (Gol) has announced the sale (re-issue) of Comprising Profit (Loss) and Other comprehensive -150.88 53.76 -28.65 98.97 • % of Fully Paid Up Share Capitol 56.57% 21.57% 56.57% 27.58%
three dated securities: Income for the period ) $As per the disclosures available on the website of BSE Limited and in terms of explanation received from the management of the
Paid up Equity Share Capital Target Company, Mr. Hitesh Suneja, Mr. Vinod Suneja and Mr. Naveen Suneja, being individuals belonging to the Promoters'Group
Sr. Nomenclature Notified a m o u n t Earmarked for 739.10 739.10 739.10 739.10
No. Nominal Retail Investors* (Face Value of T 10/- each) the Target Company and collectively holding 11,12,400 Equity Shares representing 2.26% of the Equity Share Capital of the Targe
(in ? C r o r e ) (in ? C r o r e ) Reserves excluding revaluation reserve Company have sold their entire shareholding In the Target Company to an individual who neither belongs to the Promoters'Group nor
1880.17 1880.17
as per Balance sheet of previous accounting year is related to the Acquirer in any manner. Therefore these shares have been added to the Public Category.
5.22% GS 2025 12,000 600 # Excluding the shares held by the Acquirer and/or PACs
Earnings per equity share
6.19% GS 2034 11,000 550 (for discontinued & Continuing operation): Note:
7.16% GS 2050 7,000 350 Basic -2.05 0.74 -0.38 1.35 The Acquirer and PACs, and their respective Partners/Directors, accept full responsibilityforthe information contained in this Post- Offer
Gol will have the option to retain additional subscription up t o ? 2 , 0 0 0 Diluted -2.05 0.74 -0.38 1.35 Advertisement and shall be responsible forthe fulfillment of obligations under the SEBI (SAST) Regulations, in respect of this Offer.
crore against each securities mentioned above. Notes: In terms of provisions of SEBI circular no. SEBI/CIR/CFD/DCR1/CIR/P/2020/83 dated May 14,2020, this Post Offer Advertisement will
T h e sale will be subject to the terms and conditions spelt out in this 1. The above is an extract of the detailed format of Unaudited Financial Results for the Quarter ended also be available on the respective websites of SEBI (www.sebi.gov.in), the Target Company (https://www.networklimited.net), the
notification (called 'Specific Notification'). T h e stocks will be sold June 30, 2020, ('These Results") filed with the Stock Exchange under Regulation 33 of the SEBI (Listing Registrar to the Offer (https://www.alankit.com/group-company/alankit-assignments-limited) and the Manager to the Otter
through Reserve Bank of India, Mumbai Office, Fort, Mumbai - Obligations and Disclosure Requirements) Regulations, 2015. (http://tcagroup.in/) and BSE (www.bseindia.com).
4 0 0 0 0 1 , as per the terms and conditions specified in the General 2. These Results have been reviewed by the Audit Committee and approved by the Board of Directors at Capitalized terms used but not defined in this Post-Offer Advertisement shall have the meanings assigned to such temns in the Letter of
Notification F . N o . 4 ( 2 ) - W & M / 2 0 1 8 , dated March 2 7 , 2 0 1 8 . their meeting held on 14th September 2020. Offer Dated AugustOt, 2020.
The auction will be price based for all the securities, using multiple 3. These Results have been prepared in accordance with the Companies (Indian Accounting Standards)
price m e t h o d . T h e auction will be conducted by RBI, Mumbai Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act 2013 and other recognised ISSUED BY MANAGER TO THE OFFER
Office, Fort, Mumbai on S e p t e m b e r 18, 2 0 2 0 (Friday). T h e result accounting practices and policies to the extent applicable. TURNAROUND CORPORATE ADVISORS PRIVATE LIMITED
will be announced on the s a m e day and payment by successful 4. Figures for the quarter ended March 31, 2020 are the balancing figure between the audited figures in 714, Vishwadeep Building, Plot No. 4, District Centre, Janakpuri, New Delhi-110058
bidders will have to be made on S e p t e m b e r 2 1 , 2 0 2 0 ( M o n d a y ) . respect of the full financial year and the published figures of nine months ended December 31, 2019. Tel: +91-11-45510390
For further details, please s e e RBI press release dated S e p t e m b e r E-mail: info@tcagroup.in
5. The Outbreak of COVID-19 pandemic and the nationwide lockdown ordered by the government of India
1 4 , 2 0 2 0 on RBI w e b s i t e - (www.rbi.org.in).
has resulted temporary disruption in the operations of the company at its manufacturing locations impacting Website: www.tcagroup.in
A t t e n t i o n Retail Investors* in terms of production and sales from the second half of March 2020. Since then the operations have been Contact Person : Mr. Heemadri Mukerjea
(*PFs, Trusts, R R B s , C o o p e r a t i v e B a n k s , N B F C s , C o r p o r a t e s ,
gradually resuming in line with the government of India directives issued in this regard from time to time. SEBI Registration No.: MB/INM000612290
H U F s a n d Individuals) The Company has considered the possible effcts that may result from the pandemic on the carrying value
Retail investors can participate in the auctions for the amounts Acquirer PAC 1 PAC 2 PAC 3
of its assets. Based on the analysis of the future economic indicators and current estimates used upto the Anushi Retail LLP Swiss Military Lifestyle
earmarked for them on a non-competitive basis through a bank or a
date of approval of the standalone financial results the company dose not forsee any material impact on Products Private Limited
primary dealer. For more information, detailed list and telephone
the carrying value of its assets .The impact of COVID 19 on the companys Financial statements may differ Sd /- Sd /- Sd/-
numbers of primary dealers/bank branches and application forms
please visit RBI website (www.rbi.org.in) or F I M M D A website from that estimates as at the date of approval of standalone financial results. Anuj Sawhney Anuj Sawhney Ashita Sawhney Sd /-
(www.fimmda.org). 6. The previous period's figures have been regrouped / rearranged / reclassified wherever necessary. Designated Partner Anuj Sawhney
Place: New Delhi DPIN: 00471724 Director
G o v e r n m e n t S t o c k offers safety, liquidity a n d attractive 7. The full format of the above Financial Results are available on the Stock Exchange website and on
Date: September 15,2020 DIN: 00471724
returns f o r long duration. www.rishitechtex.com.
For RISHI TECHTEX LTD.
"Don't get cheated by E-mails/SMSs/Calls promising y o u money"
sd/-
Abhishek Patel
Place : Mumbai Managing Director
Date : 14th September, 2020 DIN: 05183410
KAMADGIRI FASHION LIMITED Rameshwar Media
CIN-L17120MH1987PLC042424
Regd. Office: A-403, The Qube, off M. V Road, Marol, Andheri (East), Mumbai - 400059
Tel: 022-71613131 I Fax:022-71613199
email: cs®kflindia.com I website: www.kflindia.com
EXTRACT OF UNAUDITED FINANCIAL RESULTS FOR THE
- GRANDEUR PRODUCTS LIMITED
Registered Office: H. No. 1-62-192, 3rd Floor, Dwaraka Avenue,
QUARTER ENDED ON JUNE 30, 2020 „ . , _ , Kavuri Hills, Madhapur, Hyderabad, Telangana-500033
(? in Lakhs)
CIN: L15500TG1983PLC110115
Unaudited STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER
Sr.
No.
Particulars Quarter Ended ENDED 30TH JUNE, 2020 (RS. IN LAKHS) K K O T H A R I
30-Jun-20 30-Jun-19 Consolidated PRODUCTS LIMITED
Sr.
1 Total income from operations 331.84 6,967.69 No. PARTICULARS Quarter Quarter Quarter Year REGD. OFF : "PAN PARAG HOUSE", 24/19, THE MALL, KANPUR-208 001 (U.P.)
Ended Ended Ended Ended
2 Net ProfiV(Loss) forthe period 30-06-2020 31-03-2020 30-06-2019 31-03-2020 PH. NO.: (0512) 2312171-74 & FAX NO.: (0512)2312058
(before Tax, Exceptional and/or Extraordinary items) (568.53) (30.34)
Unaudited Audited Unaudited Audited E-MAIL: rkgupta@kothariproducts.in, Website : http://www.kothariproducts.in
3 Net Profit/(Loss) forthe period
1. Total income from operations 6,449.91 1,770.19 7253.66 9,903.82 CIN : L16008UP1983 PLC 006254
(after Exceptional and/or Extraordinary items) (426.98) (18.99)
2. Net Profit (before Tax, Exceptional and/or STATEMENT OF STANDALONE AND CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2020
Extraordinary items) 1,575.33 (2.66) 1593.69 27.57
4 Net ProfiV(Loss) forthe period afterTax 3 Net Profit before tax (after Exceptional and/or
(Rupees in Lacs)
(after Exceptional and/or Extraordinary items) (426.98) (18.99) Extraordinary items) 1,575.33 (2.66) 1593.69 27.57 Standalone Consolidated
4 Net Profit after tax (after Exceptional and/or
SI.
5 Total Comprehensive Income forthe period PARTICULARS Quarter Ended Year Ended Quarter Ended Quarter Ended Year Ended Quarter Ended
Extraordinary items) 1,575.33 (2.66) 1593.69 27.57 No,
[Comprising Profit/ (Loss) forthe period (aftertax) 5 Total Comprehensive Income [Comprising Profit 30.06.2020 31.03.2020 30.06.2019 30.06.2020 31.03.2020 30.06.2019
and other Comprehensive Income (aftertax)] (422.11) (18.37) after tax and Other Comprehensive Income UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED
(after tax)] 1,120.98 12.54 1594.54 (4.18) l. TOTAL INCOME FROM OPERATIONS 40,769 251,776 84,476 77,042 428,324 111,127
6 Equity Share Capital 586.94 586.94
6 Paid up Equity Share Capital 2. NET PROFIT / (LOSS) FOR THE PERIOD (BEFORE TAX,
127 5,068 (401) (129) 5,480 (47)
7 OtherEquity ( Rs.10/- Per Equity Share) 2,231.20 2,231.20 2,231.20 2,231.20 EXCEPTIONAL AND/OR EXTRAORDINARY ITEMS)
8 Earnings Per Share (of ?10/-each) 7 Reserves (excluding Revaluation Reserve as 3. NET PROFIT / (LOSS) FOR THE PERIOD BEFORE TAX (AFTER
127 5,068 (401) (129) 5,480 (47)
shown in the Balance Sheet) 2,609.22 EXCEPTIONAL AND/OR EXTRAORDINARY ITEMS)
Basic: (7.27) (0.32)
8 Earnings Per Share (of Rs.10/- each) 4. NET PROFIT / (LOSS) FOR THE PERIOD AFTER TAX (AFTER 67 (262) (257)
3,403 3,474 22
Diluted: (7.27) (0.32)
(Not Annualised): EXCEPTIONAL AND/OR EXTRAORDINARY ITEMS)
Notes: a) Basic 4.98 0.09 7.15 0.09 5. TOTAL COMPREHENSIVE INCOME FORTHE PERIOD
[COMPRISING PROFIT / (LOSS) FOR THE PERIOD (AFTER TAX) 67 3,403 (262) (257) 3,474 22
b) Diluted 4.98 0.09 7.15 0.09
The above Financial Results forthe quarter ended June 30,2020 have been reviewed AND OTHER COMPREHENSIVE INCOME (AFTER TAX)]
and recommended by the Audit Committee and approved by the Board at its meeting Key Numbers of Standalone Financial Results for the Quarter ended 30th June 2020 6. PAID-UP EQUITY SHARE CAPITAL (FACE VALUE Rs.10/- EACH) 2,984 2,984 2,984 2,984 2,984 2,984
held on September 15,2020 and reviewed by Statutory Auditors. Standalone 7. RESERVES (EXCLUDING REVALUATION RESERVES) AS SHOWN
87,371 114,143
Quarter Quarter Year IN THE AUDITED BALANCE SHEET OF THE PREVIOUS YEAR
The above is an extract of the detailed format of the financial results forthe Quarter PARTICULARS Quarter
Ended Ended Ended Ended 8. EARNINGS PER SHARE (OF RS.10/- EACH) (FOR
ended June 30,2020, filed with Stock Exchange, underRegulahon 33 of the Securities CONTINUING AND DISCONTINUED OPERATIONS)
30-06-2020 31-03-2020 30-06-2019 31-03-2020
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Unaudited Audited Unaudited Audited (A) BASIC* 0.22 11.40 (0.88) (0.86) 11.64 0.07
Regulations, 2015. The full format of financial results forthe Quarterended June 30, Total income from operations (Rs.in Lakhs) 3.42 6.29 (B) DILUTED* 0.22 11.40 (0.88) (0.86) 11.64 0.07
2020 is available on the website of Stock Exchange i.e www.bseindia.com and on Profit before tax (Rs.in Lakhs) (53.83) (28.09) (44.71) (170.35) Notes:
the website of the Company i.e. www.kflindia.oom. Profit after tax (Rs.in Lakhs) (53.83) (27.69) (44.71) (169.87) 1. The aforesaid results have been reviewed by the Audit Committee and approved by the Board of Directors, for release, at their respective meetings held on
15th September, 2020.
Previous year's/ period's figures have been regrouped/rearranged wherever Total comprehensive income after tax (Rs.in Lakhs; (43.86) (53.64) (43.85) (193.83) 2. The above results have been prepared in accordance with Indian AccountingStandards ('Ind AS') prescribed under section 133 of the Companies Act, 2013
considered necessary to make them comparable with current period figure. read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and SEBI
Notes: circular dated 5th July, 2016.
For Kamadgiri Fashion Limited 3. The aforesaid results forthe quarter ended 30th June, 2020 have been subjected to "Limited Review" by the Statutory Auditors of the Company and they
1) The above Financial results as recommended by the Audit Committee were considered and approved
by the Board of Directors at their meeting held on 14th September, 2020 have issued "Limited Review Report" forthe same.
Mumbai PradipKunarGoenka 4. During the quarter under review the operations of the company have been affected badly by covid-19 pandemic as regards a sizeable fall in the revenue
2) The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock
and earningsand increase in debtors due to slow realisation. The same, in any way, does not require impairment or write down as at present.
September 15,2020 Chairman & Managing Director Exchange under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) 5. The figures of the previous periods have been regrouped/recast wherever considered necessary to make them meaningful and comparable with the
Regulations, 2015. The full format of the Quarterly Financial Results are available on company's figures of the current periods.
website at www.grandeurproducts.com and the stock exchange's website www.bseindia.com. 6. The above is an extract of the detailed format of quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing
obligations and Disclosures Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the web-sites of the Stock
For and on behalf of the Board of Directors Exchanges and the Company namelywww.bseindia.com, www.nseindia.com and www.kothariproducts.in. _
Grandeur Products Limited FOR KOTHARI PRODUCTS LIMITED
Sd/- Sd/-
Vijay Kumar Deekonda Place: KANPUR (MITESH KOTHARI)
Place: Hyderabad Whole Time Director Date : 15th September, 2020 EXECUTIVE DIRECTOR
Date: 14-09-2020 DIN:06991267 "Not Annualised DIN: 00089076
6 ECONOMY & PUBLIC AFFAIRS
>
IN BRIEF
Over 1,600 firms got $1 bn FDI from
China during Apr ’16-Mar ‘20: Govt
More than 1,600 Indian companies have received foreign direct
investments worth $1 billion from China during the April 2016 to
March 2020 period, according to government data. The data was
provided in a written reply to the Rajya Sabha on Tuesday, to a
question on whether it was a fact that large-scale investments had
been made by Chinese agencies in Indian entities, especially start-
ups. Over 1,600 firms received $1,020.25 million ($1.02 billion) in
foreign direct investment inflows from China from April 2016 to
March 2020, according to the data. These companies were in 46
sectors. Among these, the automobile, printing of books (including
litho-printing industry), electronics, services, and electrical
equipment industries received more than $100 million each in FDI
from China, during the said period.
Some states against
borrowing options
for GST: MoS Finance
Some states have objected to
the proposed borrowing plan
of the Centre to fund the GST
revenue shortfall and are being
requested to exercise either of
the two options, Minister of
State for Finance Anurag Singh
Thakur said on Tuesday. The
Centre, late last month, gave
two options to states to either
borrow ~97,000 crore from a
special window facilitated by
the Reserve Bank of India, or
~2.35 trillion from the market
and also proposed extending
the compensation cess levied
on luxury, demerit and sin
goods beyond 2022 to repay the
borrowing. PTI
India down to 54th
in appreciation of
home prices: Report
India's rank slipped 11 places
to 54th in terms of appre-
ciation in residential prices, as
housing rates declined nearly
2 per cent during the June
quarter compared to the year-
ago period, according to
Knight Frank. India is at 54th
spot among the 56 countries
and territories tracked in terms
of appreciation in residential
real estate prices, the
consultant said. PTI
Port cargo picking
up, but still lower
than last year’s
TRAFFIC AT
MAJOR PORTS
Source: CRISIL Research
ADITI DIVEKAR
Mumbai, 15 September
Almost all major ports wit-
nessed a sharp drop in cargo
traffic during April-August
2020 compared to the same
period last year. However, the
fall has started narrowing
down every month.
The fall in cargo at 12 major
ports — administered by the
central government — was 10
per cent in August compared
to the same month in 2019.
“Business is gradually
returning to normal and
mainly picking up from the
export side. In August, we cov-
ered 98.5 per cent of what we
did in July. Compared to
August 2019, we have covered
about 82 per cent of the cargo
volumes,” said a senior traffic
official at the Jawaharlal
Nehru Port Trust (JNPT).
JNPT, the country’s largest
container port, reported
352,735 twenty-foot equivalent
units (TEUs) in August against
344,316 TEUs in July and
433,986 TEUs in the corre-
sponding month last year.
“We are not offering any
discounts to attract customers
but have set up 24x7 sector-
wise offices to address client
grievances. This is helping
sort out issues, and in turn,
aiding cargo volumes,” said
the official. According to the
Indian Ports Association (IPA)
data, traffic handled by major
ports stood at 245 million
PTI
Mills owe ~13,000 cr
for ‘20 season to
cane farmers: Govt
Sugar mills owed nearly
~13,000 crore to cane farmers
as on September 11, 2020, for
the crop procured during 2019-
20 marketing season that
started October last year,
Parliament was informed on
Tuesday. “Out of total cane
dues payable of ~75,585 crore
for sugar season 2019-20 as of
September 11, 2020, close to
~62,591 crore has been paid to
the sugarcane farmers and
only ~12,994 crore in cane dues
is yet to be paid," Minister of
State for food and consumer
affairs, Danve Raosaheb
Dadarao, said in a written reply
to the Lok Sabha. PTI
Cabinet approves
Palwal-Sonipat
railway project
The Centre on Tuesday okayed
the construction of the crucial
Haryana Orbital Rail Corridor
Project from Palwal to Sonipat,
which will decongest the
railway network in NCR, and
also connect under-served
areas of Haryana. The Cabinet
cleared the project, set to be
completed at an estimated
cost of ~5,617 crore with a
likely completion time of
five years. PTI
tonne during April-August
2020, down 16.56 per cent
from same period last year.
Kamarajar Port (earlier
known as Ennore Port) report-
ed the biggest drop in vol-
umes of close to 32 per cent
for the eight months.
“Kamarajar Port will take a
couple of months to bounce
back as import of thermal coal
has dropped significantly due
to weak demand from power
plants, both private and Tamil
Nadu state units. We are not
doing anything specific to
bring back trade but Tamil
Nadu, which is using wind
energy, will return to coal in
the next couple of months.
This will push up coal
demand again,” said A
Karuppiah, chief manager
(traffic) at Kamarajar Port.
“The sequential month-
on-month rise in traffic is
largely due to the phased
opening up of the economy,
post lockdown. Coal traffic at
major ports has been improv-
ing, with opening up of indus-
tries, leading to a rise in power
demand,” said Isha
Chaudhary, director, CRISIL
Research.
Among the private port
players, Essar Ports is consis-
tently maintaining cargo vol-
umes at above 4.2 million
tonnes. Adani Ports remained
relatively insulated from the
overall tough business climate
as unlocking started across
the country.
EPF interest rate, bond
spread at 16-year high
Bond yield drop may make it tough for EPFO to keep interest rate at 8.5%
KRISHNA KANT & ABHISHEK WAGHMARE
Mumbai/Pune, 15 September
A
s interest rates in India trend
lower, the spread between the
interest rate on employee
provident fund (EPF) and 10-year gov-
ernment bonds has reached a 16-year
high of 2.5 per cent or 250 basis points
(bps). One basis point is one-hun-
dredth of a per cent.
The EPF interest rate for financial
year 2019-20 (FY20) was 8.5 per cent,
against a 6 per cent yield on 10-year
government bonds. The EPF interest
rate has exceeded yields on 10-year
government bonds by 130 bps on aver-
age since 1971. So, the current spread
is about twice the historical average.
According to experts, the sharp
decline in bond yields will make it
tough for the Employee Provident
Fund Organisation (EPFO) to keep the
interest rate at 8.5 per cent.
“When the general interest rate has
come down, it has to be seen for how
long EPFO can maintain interest rate
at 8.5 per cent,” says Devendra Pant,
head economist at India Ratings
& Research.
Last week, EPFO said it will only
pay 8.15 per cent interest to its mem-
bers for FY20, and the remaining 35
bps will be paid by December.
“A sharp decline would hit EPFO
earnings on fresh investments, but it
has large portfolio of older invest-
ments made 6-7 years ago, when bond
yields were hovering around 8.5 per
cent. The net impact on EPFO earn-
ings will depend on the break-up of
old and new investments,” says
Madan Sabnavis, chief economist at
CARE Ratings.
There is a close historical corre-
spondence between yields from treas-
ury bonds and EPF interest rates. For
example, EPFO paid 12 per cent inter-
est in the 1990s, when bond yields
hovered in the of 10-13 per cent range,
according to data from the Reserve
Bank of India.
The EPFO has a large corpus of
retirement money that is augmented
every year through new contributions.
The majority of the accruing sums (90
per cent) every year is invested in debt
instruments — bonds sold by public
sector undertakings (PSUs), including
some private sector bonds (30 per cent
India's economy
to contract 9%
in FY21, says ADB
India's economic growth will contract
9 per cent in the current fiscal year as the
coronavirus pandemic weighs heavily
on economic activity and consumer
sentiment.
In its Asian Development Outlook
2020 update, ADB projected a strong
recovery for the Indian economy in FY21,
with gross domestic product growing by
8 per cent as mobility and business
activities resume more widely.
“India imposed strict lockdown
measures to contain the spread of the
pandemic and this has had a severe
impact on economic activity,” said ADB
Chief Economist Yasuyuki Sawada. PTI
Supplementary demand for grants: An explainer
ABHISHEK WAGHMARE
Pune, 15 September
The Centre has presented to
Parliament its first batch of
supplementary demand for financial
grants to be made to various depart-
ments. The demand is to spend an
additional ~2.36 trillion in FY21.
The Centre presents its annual
spending plan two months ahead of
the beginning of a new fiscal year.
But as the year progresses, the
government takes stock of the
spending done, the amount that
remains to be spent, and considers
the new requirements that demand a
bigger sum than originally planned.
While doing this, it also includes
those departments who no longer
need the money they had been
assigned, or as the case may be, if the
Centre is unable to earn the revenue
so required. There are three ways to
look at this number: one, through its
bifurcation into extra cash needed on
the one hand, and bonds,
borrowings, and savings from other
ministries or departments to be used
from other purposes, on the other;
two, its division into spending that’s
already done at this point of time,
and the part that is newly
announced; and three, expenditure
that needs parliament nod and the
part that doesn’t.
Cash outgo
From the announced ~2.36 trillion,
about 70 per cent, or ~1.67 trillion is
the “net cash outgo” for the Centre.
This means that apart from the
budgeted expenditure, the
government needs to account for
NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020
HISTORICAL MOVEMENT IN EPFO DEBT PORTFOLIO
INTEREST RATE PAID BY EPF IN 2016-17**
AND 10-YR GoI BOND (in %) | PSU/Corporate bonds | State
development loans/securities | Central
government securities | Public account
| Special deposit scheme
6.3%
31.2%
13.0%
20.9%
28.6%
*Bond yield as of September 12; EPF interest rate for FY20 extrapolated for FY21; **2016-17 data
Source: Reserve Bank of India, Bloomberg, EPFO Annual Reports
in FY17), central government securi- The current divergence between
ties (21 per cent), and state develop- the EPF interest rate and bond yields
ment loans (26 per cent). is of significance because the EPFO
The yields on all debt instruments earns a surplus if its interest rate is
closely follow the trajectory of the lower than the long-term interest
yields on 10-year government of India rates on debt instruments.
bonds. For example, state govern- However, if the reverse is the case,
ment bonds with 10-year maturity the EPFO might have to pay from its
currently yield 6.65 per cent, while 10- surpluses accrued over time.
year AAA-rated corporate bonds are Analysts say, in the short-term
trading at 6.9 per cent, against 6 per EPFO can manage to pay a higher
cent yield on 10-year treasury bonds. interest rate thanks to a large portfolio
The EPFO also forayed into equity of older bonds.
investments in 2015, but the share of “EPFO has a large portfolio of gov-
such investments was capped at five
per cent annually.
In 2016, this limit was raised to 10
ernment papers that yield as much as
9 per cent, which it accumulated dur-
ing 2011-2015. These will start matur-
per cent, which the EPFO now invests ing next year. As it holds all debt
in exchange-traded funds (ETFs). The papers till their maturity, the EPFO is
benchmark indices, however, have still earning well above 8.5 per cent
provided annualised returns of only on a significant portion of its portfo-
6.2 per cent over these past five years. lio,” says a fund manager.
COVID GUARD: A BACK-STOP Provision
coverage
Capital
adequacy
FACILITY FOR PSU BANKS (in ~crore) ratio(%) ratio-Basel III NPA (%) NPA (%)
The debt restructuring scheme is expected to soften SBI 86.3 13.4
the blow of the Covid-19 pandemic on books of public Bank of Baroda
sector banks (PSBs). With years of capital infusion,
83.3 12.8
PNB 80.8 12.6
consolidation and enhancement in monitoring risk
management, PSBs are relatively better placed to face Canara Bank 79.0 12.8
challenges. Yet, some of them are likely to need some Union Bank (I) 79.9 11.6
capital support from the government, in order to
absorb shocks, meet regulatory norms, and support Bank of India 84.9 12.8
business growth. Except for a few, most PSBs face Indian Bank 80.5 13.5
major challenges in raising capital Central Bank 79.1 11.5
from the market, given the low
premium. The governm- IOB 88.0 10.9
ent’s recapitalisation UCO Bank 86.5 11.7
programme may give them a Bank of Maha 85.9 13.2
back-stop facility in case of
capital support. Punjab & Sind Bank 69.2 12.8
ABHIJIT LELE As of June 30, 2020; *estimates
TAKING STOCK OF GOVT’S SPENDING
Cash outgo of ~1.67 trn accounted for by the Centre
n Additional cash outgo from the annual Budgetary resources
n Using bonds, expenditure management, re-routing existing resources
Bifurcation on
the extent of ~1.67 trn
cash spending
n Expenditure charged to the Consolidated Fund of India
n Spending that needs the vote of the Parliament
Bifurcation on
type of ~0.47 trn
expenditure
Source: Department of Economic Affairs, Ministry of Finance
~1.67 trillion worth of more funds to crore worth of funds is taken care of
take care of enhanced spending on from savings of various ministries or
post-pandemic policy response. departments after assessing that
This is 5.5 per cent over and above they no longer need that much of
the overall expenditure budgeted for money, or through enhanced
this year, at ~30.4 trillion. And if it is receipts or recoveries.
assumed that India’s nominal gross The biggest item under this is
domestic product falls this year as ~40,000 crore worth of spending
experts are saying, this could well be towards providing excess rural
close to 1 per cent of GDP. employment for migrants and
Most of it is to account for extra construction labourers whose work
spending to bolster the health avenues vanished due to the pand-
department’s effort to tackle the emic. This provision has been made
Covid-19 public health emergency either through enhanced borrowing,
(~8,000 crore), to make possible cash or using funds from other depar-
transfers to needy households and tments, the clarity on which is not
strengthen rural employment divulged in the government release.
generation (~73,000 crore), facilitate The second important provision
decentralised grain procurement for is the ~20,000 crore worth of
food security of the poorest (~10,000 recapitalisation of public sector
crore), and towards price stabil- banks. PSBs are reeling from a severe
isation fund that helps tame extreme pressure in their balance sheets due
volatility in prices of essential to the economic impact of Covid-19,
consumer food items (~6,000 crore). and according to the RBI’s asse-
The remainder of nearly ~69,000 ssment, their bad loan ratio is set to
WOUND-UP SCHEMES
ED seeks details
from Sebi in
Templeton case
SHRIMI CHOUDHARY
New Delhi, 15 September
Trouble is mounting for Franklin
Templeton, as its dealings in six
wound-up mutual fund schemes
have come under Enforcement
Directorate (ED) scanner.
Sources said the federal
agency has sought details of the
case from the Securities and
Exchange Board of India (Sebi).
It is already examining
Franklin Templeton’s invest-
ment strategy, code of conduct,
redemptions before announcing
the closure of schemes and role
of board members as well as
trustees while handling risk.
“A letter has come from the
directorate seeking case details,
development in the matter along
with findings of the auditors
appointed by the regulator to do
forensic audit,” said a regulatory
source privy to the development.
It is learnt that the regulator
has responded to the ED, saying
that it will share the audit report
once it is finalised.
In an email response to
Business Standard, Franklin
Templeton’s spokesperson said,
“We are not aware of any such
development. The matter is
being heard before the Karnataka
High Court. We believe we have
acted in the best interest of our
unitholders and in accordance
with all regulations in this regard.
The ED, which has been
entrusted with probing some
sensitive and important cases of
financial crimes and terror fund-
ing, has the power to seek details
of any case and start an inquiry.
Typically, ED picks cases for
further scrutiny only after ensur-
ing that there is certainty of trac-
ing substantial proceeds of a
crime, said a senior counsel. He
further said that for investigation
under money laundering provi-
sions, the agency requires a
police complaint in the case. An
email sent to Sebi remained
Gross Net Total Total Base case
deposits advances - capital *
5.4 1.9 34,19,363 23,85,639 5,605
9.4 2.8 9,34,461 7,36,547 3,394
14.1 5.4 10,74,917 7,21,695 9362
8.8 4.0 9,09,570 6,50,574 5094
15.0 5.0 8,92,542 6,50,127 4276
13.9 3.6 5,95,235 3,70,615 NA
10.9 3.8 4,89,109 3,66,787 4,769
18.1 6.8 3,21,252 1,76,496 2,305
13.9 5.1 2,25,546 1,31,565 3,680
14.4 5.0 1,95,120 1,15,236 2,364
10.9 4.1 1,52,987 96,621 773
14.3 7.6 85,225 61,685 1,513
~0.69 trn ~2.36 trn
~1.89 trn ~2.36 trn
rise in FY21. This spending would be
in the form of special securities sold
by the government of India to PSBs,
on which the latter will get imm-
ediate cash, but pay back principal
and interest later.
New or already done?
The government announced a slew
of measures to contain the economic
losses that the pandemic brought
with it. This included the Pradhan
Mantri Garib Kalyan Yojana, PMGK
Anna (food) Yojana, PMGK Rozgaar
Abhiyaan (employment mission),
which was targeted to provide
financial assistance in the form of
cash, free food to the needy rural folk,
and more works under the Mahatma
Gandhi National Rural Employment
Guarantee Scheme (MGNREGS).
Most of the supplementary grants
have already been announced, and
also spent, according to experts. The
Controller General of Accounts
1
THE CASE SO FAR
APRIL: Franklin Templeton
shuts six debt schemes
MAY: Sebi advises Templeton to
focus on returning money to
investors
JUNE: Sebi appoints firm to
conduct forensic audit;
Investors move Karnataka HC
AUGUST: Sebi-appointed firm
submits audit report
SEPTEMBER: Regulator seeks
Templeton’s response on
investment strategy &
redemptions, among others
unanswered. ED, too, declined to
comment.
Meanwhile, Sebi sought the
fund house’s response to the
forensic audit report that was
submitted last month. The audit
report pointed out certain
anomalies in the investment
strategies. Based on these obser-
vations, Sebi wants to under-
stand investment strategies of
the fund house.
Sebi also wants the fund
house’s response on the six
schemes’ exposure to several
stressed firms. It also wants to
know the role of the trustees and
board members as well as how
issues are addressed.
Franklin Templeton is learnt
to have responded to queries
where it has mentioned it flagged
the matter first in September
2019 to its board.
Source: Capitaline
shows a completed spending of ~1.02
trillion in four months by the
department of rural development,
against the annual (12 months)
allocation of ~1.2 trillion (85 per cent).
More than half of it is for wages to
MGNREGS workers, and about a
third, towards cash transfers to
women Jan Dhan account holders.
“Most of these provisions are a
part of government’s Covid-relief
measures, and hence these demands
are but a formalisation of the process
of incurring these expenses.
However, the state deficit grants
appear to be outside these
announcements, and hence become
additional expenditure,” CARE
Ratings said in a report.
According to the recomm-
endations of the 15th Finance
Commission, the Centre has to
provide financial grants to states if
the revenue account of states
remains in deficit even after
devolution—sharing of state’s share
in gross tax revenue to them. To
account for the revenue loss post-
devolution, it has earmarked ~47,000
crore to states. This is the biggest
provision that has not been done,
and would nearly account for 0.25
per cent of GDP for FY21.
Voted and charged expenditure
Of the ~2.36 trillion worth of additi-
onal spending, the Centre would
need to take Parliament’s permission
to spend only a part of it, amounting
to ~1.89 trillion. The post-devolution
revenue deficit grant, mentioned
above does not need Parliament’s
approval according to Article 112 of
the Constitution of India.
Business Standard NEW DELHI | W E D N E S D A Y 16 SEPTEMBER 2020 7
Business Standard ARSS INFRASTRUCTURE PROJECTS LIMITED
DELHI EDITION Regd. Office : Plot No.-38, Sector-A, Zone-D, M a n c h e s w a r Industrial Estate, Bhubaneswar, Odisha - 751010
Printed and Published by Nandan Singh
Corp. Office : ARSS Mall, Plot no-40, Community Centre, Block-A,Paschim Vihar,Opp-Jwalaheri Market, New Delhi - 110063
Rawat on behalf of Business Standard
Tel No.: +91-0674-2602763, E-mail : cs@arssgroup.in, Website: www.arssgroup.in, CIN: L141030R2000PLC006230
Private Limited and printed at The Indian EXTRACT OF UNAUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED ON JUNE 30, 2020
Express (P) Ltd. A-8, Sector-7, Noida,
K e y n u m b e r s of F i n a n c i a l R e s u l t s (Rs. in L a k h s )
Gautam Budh Nagar-201301 and
Standalone Consolidated
GLOBAL VECTRA HELICORP LIMITED
published at Nehru House, 4 Bahadur
Shah Zafar Marg, N e w Delhi 110002 Quarter ended Year ended Quarter ended Year ended
Sl.
No. Particulars June 30, March 31, June 30, March 31, June 30, March 31, June 30, March
E d i t o r : Shyamal M a j u m d a r Corporate Office: Hangar No. C-He/Hf, Airports Authority of India, Civil Aerodrome, Juhu, Mumbai-400056 2020 2020 2019 2020 2020 2020 2019 31, 2020
RNI NO. 5 7 3 7 6 / 1 9 9 4
Regd. Office: A - 54, Kailash Colony, New Delhi • 110048. (Un (Un (Un (Un (Un (Un
(Audited) (Audited)
CIN: L62200DL1998PLC093225, Website: www.globalhelicorp.com Audited) Audited) Audited) Audited) Audited) Audited)
Readers should w r i t e their feedback at
feedback@bsmail.in 1. Total Revenue from Operations 4,128.04 5,240.57 10,108.00 28,851.61 4,128.04 5,240.61 10,108.00 28,851.61
Ph. 011-23720202, Fax: + 91-11-23720201
STATEMENT OF UNAUDITED FINANCIAL RESULTS 2. Net Profit / (Loss) (before Tax, Exceptional and/or
F O R T H E Q U A R T E R E N D E D 30 J U N E 2 0 2 0 Extraordinary items)
38.74 1,110.36 (68.00) 988.53 38.74 1,696.54 (68.00) 988.54
For Subscription a n d Circulation
enquiries please contact: (Rs in lakhs) 3. Net Profit/(Loss) before Tax (after Exceptional and/
38.74 1,110.36 (68.00) 988.53 51.46 1,906.53 (60.00) 1,095.52
Ms. Mansi Singh or Extraordinary items)
Head-Customer Relations Quarter ended Previous 4. Net Profit / (Loss) after Tax (after Exceptional and/
Business Standard Private Limited. Year Ended 111.19 1,169.90 (51.00) 799.04 123.91 2,144.52 (43.00) 906.03
or Extraordinary items)
H/4 & I/3, Building H,Paragon Centre, Opp. Sr.
Particulars 30 June 31 March 30 June 31 March 5. Total Comprehensive Income [Comprising Profit / (Loss)
Birla Centurion, PB.Marg, Worli, No. 111.19 1,175.12 (51.00) 804.26 123.91 2,149.73 (43.00) 911.24
2020 2020 2019 2020 after Tax and Other Comprehensive Income after tax]
M u m b a i - 400013
E-mail: subs_bs@bsmail.in (Unaudited) (Audited) (Unaudited) (Audited) 6. Equity Share Capital 2,273.80 2,273.80 2,273.80 2,273.80 2,273.80 2,273.80 2,273.80 2,273.80
" o r s m s , SUB BS t o 5 7 0 0 7 "
1 Total income from operations 6,497.45 10,147.51 13,358.28 45,665.93 7. Earnings per share (of Y10/- each)
0.49 5.17 (0.22) 3.54 0.54 9.43 (0.19) 3.98
Basic & Diluted (Rs. )
DISCLAIMER News reports and feature 2 Net Profit for the period (before tax, exceptional and
articles in Business Standard seek to present prior period items) (1,536.10) (592.86) 1,538.29 254.00 Notes:
an unbiased picture of developments in the
3 Net Profit for the period before tax (after exceptional a) T h e a b o v e financial results of the C o m p a n y for the quarter e n d e d J u n e 30, 2 0 2 0 have been reviewed and r e c o m m e n d e d by
markets, the corporate world and the
and prior period items) (1,536.10) (592.86) 1,538.29 264.00 the audit C o m m i t t e e and a p p r o v e d by the Board of Directors of the C o m p a n y in their respective meetings held on S e p t e m b e r
g o v e r n m e n t . Actual developments can turn
o u t t o be different o w i n g t o circumstances 4 Net Profit for the period after tax (after exceptional 15, 2020. T h e s e results are being published in a c c o r d a n c e with Regulation 33 of the S E B I (Listing Obligations and Disclosure
beyond Business Standard's control and and prior period items) (970.68) (334.65) 955.80 207.94 Requirements) Regulations, 2015.
knowledge. Business Standard does not
5 Total Comprehensive Income forthe period b) T h e a b o v e is an extract of the detailed format of the S t a t e m e n t of Unaudited S t a n d a l o n e and Consolidated Financial Results
take any responsibility for investment or
business decisions taken by readers on the
[Comprising Profitforthe period (aftertax) and Other for the quarter e n d e d on J u n e 3 0 , 2 0 2 0 filed with the S t o c k E x c h a n g e s under Regulation 3 3 of the S E B I (Listing Obligation
basis of reports and articles published in the
Comprehensive Income (after tax)] (924.45) 250.92 1,082.23 1,297.15 and Disclosure Requirements) Regulations, 2015. T h e full format of the Statements of Unaudited S t a n d a l o n e and Consolidated
newspaper. Readers are expected to f o r m 6 Equity Share Capital 1,400.00 1,400.00 1,400.00 1,400.00 F i n a n c i a l R e s u l t s f o r t h e q u a r t e r e n d e d o n 30 t h J u n e , 2 0 2 0 a r e a v a i l a b l e o n t h e w e b s i t e o f t h e S t o c k E x c h a n g e s -
their o w n j u d g e m e n t .
7 Earnings Per Share (of Rs 10/-each) (for continuing w w w . b s e i n d i a . c o m and w w w . n s e i n d i a . c o m as well as on the w e b s i t e of the C o m p a n y - w w w . a r s s g r o u p . i n
Business Standard does not associate itself
operations) For and on behalf of the Board of Directors
w i t h or stand by the contents of any of the
advertisements accepted in g o o d faith and Basic : (6.93) (2.39) 6.83 1.49 ARSS Infrastructure Projects Limited
published by it. A n y claim related to the
Diluted: (6.93) (2.39) 6.83 1.49 Sd/-
Date
advertisements should be directed t o the :1 5 ^ p t e m ^ 2 0 2 0 Rajesh Agarwal
advertisers concerned. Place: Bhubaneswar Managing Director (DIN-00217823)
Unless explicitly stated o t h e r w i s e , all rights
reserved by M / s Business Standard Pvt. Ltd.
1 The above results which are prepared and published in accordance with Regulation 33 of the SEBI (Listing Obligations
Any printing, publication, reproduction,
and Disclosure Requirements), 2015, have been reviewed by the Audit Committee and approved by the Board of Directors
transmission or redissemination of the at their respective meetings held on September 15,2020. The financial results are prepared in accordance with the
contents, in any f o r m or by any means, is
prohibited w i t h o u t the prior written consent
Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with the
relevant rules thereunder and other accounting principles generally accepted in India. The results for the quarter ended
PDS MULTINATIONAL FASHIONS LIMITED
of M / s Business Standard Pvt. Ltd. A n y such June 30,2020, have been subjected to a Limited review by the Statutory Auditors of the Company who have expressed - CIN: L18101KA2011PLC094125
prohibited and unauthorised act by any a modified opinion thereon. I P D S Regd. Office: 758 & 759, 2nd Floor, 19" Main, Sector 2, HSR Layout,
person/legal entity shall invite civil and
criminal liabilities.
2 A customer of the Company has been retaining amounts aggregating Rs.300.30 lakhs in respect of Service Tax / GST ' Bengaluru, Karnataka 560 102. Tel: 080-67653000
levied by the Company on reimbursement of expenses. The Company is currently in discussion with this customer for Global,coiaboratfTO,EthitaL E-Mail: investors@pdsmultinational.com | website: www.pdsmultinational.com
recovering the retained amounts and Management believes that they have a strong case to collect the outstanding amounts
No Air Surcharge
and accordingly no provision has been made thereon. The review report has been modified in this respect. Extract of Consolidated Unaudited Financial Results for the Quarter ended June 30, 2020
3 During the year ended March 31,2009, the Office of the Commissioner of Customs (Preventive) had seized three helicopters
(Y in lakhs except earning per share data)
for alleged non-compliance of the duty waivers given to non-scheduled operators (passenger). The Company had received
a Show Cause Cum Demand Notice (SCN) citing an amount of Rs. 2,379.24 lakhs towards custom duty under Section 28 Quarter Ended Quarter Ended Quarter Ended Year Ended
SI.
of the Customs Act, 1962 and applicable interest and penalty thereon. Pursuant to the receipt of the said SCN, the Particulars 30.06.2020 31.03.2020 30.06.2019 31.03.2020
No.
Commissioner of Customs (Preventive) had confirmed a demand of Rs. 2,621.95 lakhs towards differential duty of customs (Unaudited) (Audited) (Unaudited) (Audited)
and penalty thereon for two helicopters. The Management believes that the Company is in compliance with the relevant 1 Total income from operations 98,338.12 199,663.72 154,415.26 667,456.29
customs and other regulatory guidelines in this respect, based on a decision in a previous year from Custom Excise and 2 Net profit for the period/year (before tax and exceptional items) 620.40 5,886.85 1,438.20 11,100.67
Service Tax Appellate Tribunal (CESTAT) West Zonal Bench, in favour of the Company on a similar matter and on an 3 Net profit for the period/year before tax (after exceptional items and share
BOOK YOUR COPY opinion from an external legal expert and that the demand being contested by the Company will be set aside by the higher
appellate tribunal. An amount aggregating Rs. 538.26 lakhs has been paid as duty under protest during the year ended
of loss from associates and joint ventures) 397.50 4,288.93 1,326.81 9,053.51
4 Net profit for the period/year after tax (after exceptional items and share
March 31,2010. An emphasis of matter has been given in the review report.
of loss from associates and joint ventures) 211.17 3,577.44 1,290.01 8,107.65
4 During the year ended March 31,2020, the Company had filed applications under Sabka Vishwas (Legal Dispute Resolution) 5 Total comprehensive income for the period/year (comprising profit /(loss) for
Scheme, 2019 introduced by CBIC for matters pending before Service Tax Authority. Three applications (out of six) filed the period (after tax) and other comprehensive income (after tax) 184.44 6,183.39 1,474.63 13,372.45
by the Company have been settled by the authority in the month of February 2020 with a total demand of Rs.66.76 lakhs 6 Paid Up Equity Share Capital(Face Value of 10 each) 2,604.67 2,604.67 2,604.67 2,604.67
and waiver for interest and penalty. The said demand has been paid by the Company in the month of March 2020 and
7 Earnings/(loss) per share (in 7) (face value of 7 10 each) - (not annualised)
remaining three applications have been withdrawn by the Company. Basic: (1.93) 6.49 4.29 17.67
Call 022-40275432 Accordingly, the balance of outstanding liability amounting toRs.523.20 lakhs for the period May 16,2008 to March 31, Diluted: (1.93) 6.49 4.29 17.67
2013 and interest provision amounting to Rs.1,303.91 lakhs for the period April 01,2009 to March 31,2019 as on 31st March
2020 pertaining to the above three settled applications have been reversed in the books in March 2020 and included under
SMSreachbsto 57575 Other Income. Notes:
a) The above is an extract of the detailed format of financial resultsfiledwith the stock exchanges under regulation 33 of the SEBI (Listing obligations and
5 The Company is engaged in providing helicopter services in India, which is considered as one reportable segment. There
Disclosure requirements) Regulation, 2015 (as amended). The full format of the unaudited quarterly financial results of the Group and the Company for
Email us at are no separate reportable segments as per Ind AS 108 Operating Segments.
the quarter ended 30 June 2020 are available on the Company's website (www.pdsmultinational.com) and on the website of BSE(www.bseindia.com)
6 The Government of I ndia had declared a national lockdown with effect from March 24,2020. Although, the operations of and NSE (www.nseindia.com).
the Company have been classified under essential services, the services provided to Oil & gas sector and State Governments, b) The above results were reviewed and recommended to the Board of Directors by the Audit Committee and subsequently approved by the Board of
order@bsmail.in operations have been materially impacted. Services provided to religious tourism has been highly affected for the period Directors at its meeting held on 14 September2020 and have been reviewed by the Statutory Auditor.
April, 2020 to June, 2020.
c) The financial performance on standalone basis for the quarter ending 30 June 2020 are (7 in Lakhs): a) Turnover 7 541.44 b) Profit before tax 7 99.71 and
The Company has enough working capital facilities and liquidity as of June 30,2020 to meet all its regular expenses and c) Total comprehensive income 7 72.42.
debt obligations and expects to meet all ongoing cash obligations pertaining to lease rentals, debt repayments and any d) The above financial results have been prepared in accordance with the principal and procedures laid down in Indian Accounting Standards 34, Interim
other financial obligations.
Financial Reporting ('Ind AS 34') as specified in Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards)
The Company has taken several actions to mitigate the effect of Covid-19 on its operations. We have introduced measures Rules 2015and relevant amendments thereafter and other accounting principles generally accepted in India.
as a part of our standard operating procedures to ensure health and safety of our passengers. Management is continuously e) Forthe better understanding of Groups Financials performance the following additional segment information has been provided.
assessing the situation on day-to-day basis & taking all the measures to rationalise the costs.
Due care has been exercised to determine recoverability of the carrying amount of the assets while preparing the Company's (7 in Lakh)
financial results for the quarter ended June 30, 2020.
Particulars Sourclng Manufacturing Others Total
The unprecedented nature of the pandemic makes the future business environment uncertain, however, we will continue
Revenue 90,493.49 5,118.16 1,055.32 96,666.96
to carry out the impact assessment on our assets and closely monitor any material changes to future economic conditions.
Other income 1,597.38 72.16 1.62 1,671.16
7 The figures for the quarter ended March 31 as reported in these Financial Results are the balancing figures between audited
figures in respect of the full financial year ended March 31 and the published year to date figures up to the end of the third Total revenue 92,090.87 5,190.32 1,056.94 98,338.12
quarter of the previous financial year. Cost of goods sold (77,076.61) (3,418.47) - (80,495.07)
Insight Out 8 Figures for the corresponding previous periods have been re-grouped / reclassified wherever necessary to conform to the Total expenses (11,199.78) (3,534.71) (1,027.83) (15,762.33)
current periods classification. Segment profit /(loss) before interest and tax 3,814.48 (1,762.86) 29.10 2,080.72
for Global Vectra Helicorp Limited Finance cost (679.62) (328.79) (36.01) (1,044.42)
SD/-
Profit /(loss) before tax 3,134.85 (2,091.65) (6.90) 1,036.30
Place:- Mumbai Lt. Gen. (Retd.) SJS Saighal
Tax including deferred tax (186.33) - - (186.33)
Date:- September 15, 2020 Chairman
Share of profit /(loss) from associates and
joint ventures (213.01) (9.89) (222.90)
Net profit /(loss) for the period 2,735.52 (2,091.65) (16.80) 627.07

For and on behalf of the Board of Directors

(Deeepak Seth)
Place: Bengaluru
Chairman
Date: 14 September 2020.
DIN: 00003021

C ^Professional
e Ratings Risk Opinion BALAJI TELEFILMS LIMITED
CARE Ratings Limited
(CIN:L67190MH1993PLC071691)
CIN: L99999MH1994PLC082802
Regd. Office: 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Regd. Office: C-13, Balaji House, Dalia Industrial Estate, Opp. Laxmi Industrial Estate,
Off Eastern Express Highway, Sion (East), Mumbai 400022.
New Link Road, Andheri (West), Mumbai - 400 053, Maharashtra.
NOTICE TO THE SHAREHOLDERS TelNo:+91-022-40698000 | Fax No:+91-022-40698181/82/83
TRANSFER OF EQUITY SHARES OF THE
COMPANY TO THE IEPF AUTHORITY Website: www.balajitelefilms.coml Email-Id: investor@balajitelefilms.com
Notice is hereby given that C A R E R a t i n g s Limited ("the
Company") would be transferring 121 (One Hundred and (g in Lacs)
Twenty O n e ) equity shares of Rs. 10/- (Rupees Ten Only)
each held by its 7 (Seven) shareholders to Investor Education STANDALONE CONSOLIDATED
Protection Fund (IEPF), pursuant to Section 124(6) of the Quarter ended Previous Year Ended Quarter ended Previous Year Ended
Companies Act, 2 0 1 3 read with Investor Education and
Sr No Particulars June June March June June March
Protection Fund Authority (Accounting, Audit, Transfer and
Refund) Rules, 2 0 1 6 ("Rules"), as amended. T h e said shares 30, 2020 30, 2019 31, 2020 30, 2020 30, 2019 31, 2020
correspond to the unclaimed dividend for the financial year
2 0 1 2 - 1 3 and the concerned shareholders have not claimed
(Un-audited) (Un-audited) (Audited) (Un-audited) (Un-audited) (Audited)
dividend for a period of seven consecutive years. 1 Total Income f r o m Operations 2,117.29 8,285.35 57,662.80 3,505.05 9,052.43 57,355.48
Notice is further given that as per Rules the Registrar and Transfer
2 N e t P r o f i t / (Loss) f o r t h e p e r i o d b e f o r e tax (230.83) 317.51 9,466.15 (2,878.46) (4,154.42) (2,216.83)
Agent (RTA) i.e. Kfin Technologies Private Limited, has already
sent a specific communication to the concerned shareholders at 3 N e t P r o f i t / (Loss) f o r t h e p e r i o d a f t e r t a x (140.29) 253.19 5,786.94 (2,787.92) (4,218.74) (5,896.04)
their last known address registered / email available with the RTA 4 Total Comprehensive Income for t h e period [Comprising Profit /
of the Company, inter alia, providing the details of the equity shares
(Loss) f o r t h e p e r i o d / y e a r ( a f t e r tax) a n d O t h e r C o m p r e h e n s i v e
proposed to be transferred to IEPF Suspense Account as per the
timelines stipulated under the Rules. Further, an opportunity is Income (after tax)] (142.66) 252.24 5,777.44 (2,790.29) (4,219.69) (5,890.85)
being given to concerned shareholders to claim such unpaid / 5 E q u i t y Share Capital 2,022.61 2,022.61 2,022.61 2,022.61 2,022.61 2,022.61
unclaimed dividends, by sending a letter under their signature
together with self-attested copy of PAN Card, so as to reach at the 6 Reserves ( e x c l u d i n g R e v a l u a t i o n Reserve) as s h o w n in t h e A u d i t e d
office of our RTA, at Karvy Selenium Tower-B, Plot No. 31 & 32, Balance S h e e t o f t h e p r e v i o u s y e a r 1,03,716.53 67,192.18
Financial District, Gachibowli, Nanakramguda, Serilingampally,
7 Earnings Per Share ( o f ? 2 / - each) ( f o r c o n t i n u i n g operations)
Hyderabad-500032, on or before December 15, 2 0 2 0 . T h e
concerned shareholder may note that in the event a valid claim is Basic & d i l u t e d
not received by the Company on or before December 15, 2020, Basic (0.14) 0.25 5.72 (2.76) (4.16) (5.81)
the Company shall take suitable steps to transfer such shares in
Diluted (0.14) 0.25 5.72 (2.76) (4.16) (5.81)
accordance with the provisions mentioned in the said Rules.
T h e concerned shareholders may note that, once the equity
shares are transferred to IEPF Suspense Account, they can claim Note:
the said shares along with unclaimed dividend(s) from IEPF, for
which details are available at www.iepf.gov.in. The details of the The above is an extract of the detailed format of Unaudited Quarterly Financial Results filed with the Stock Exchanges under
shareholders and the equity shares due for transfer are uploaded
under the Investors Section on the website of the Company viz. Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the Unaudited
www.careratings.com.
Quarterly Financial Results are available on the website of the Company at www.balajitelefilms.com and may also be accessed
For further information, concerned shareholders may contact the
Secretarial Department / Nodal Officer for I E P F of the Company at on the website of BSE Limited at www.bseindia.com and National Stock Exchange of India Limited at www.nseindia.com.
the following address: C A R E Ratings Limited, Godrej Coliseum,
4 th Floor, Somaiya Hospital Road, Off Eastern Express Highway,
Sion(E), Mumbai, M H - 4 0 0 0 2 2 Tel: 0 2 2 - 6 7 5 4 3 4 5 6 For Balaji Telefilms Limited
For C A R E R a t i n g s Limited Place: Mumbai Sd/-
S d /-
Date: September 16, 2 0 2 0 NavinJain
Date: September 14, 2020 Jeetendra Kapoor
Place: Mumbai Company Secretary Chairman
8 ECONOMY & PUBLIC AFFAIRS
>
NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020

Retail prices of tomatoes, RBI plans interest rate derivatives

for both retail, foreign investors
onions, and potatoes rise ANUP ROY
Mumbai, 15 September

The Reserve Bank of India (RBI) on

>
THE PROPOSAL
Local companies with minimum
networth of ~500 cr can participate
This could be result of THROUGH THE ROOF Tuesday proposed to introduce exchange-
traded and over-the-counter (OTC) inter-
>
Retail participants can only hedge, but
continued supply-side Wholesale prices Retail prices in ~/kg (Monthly price hike in %) est rate derivatives products that would be non-retail can use it for any purpose
disruptions, say experts accessible to both foreign investors and
retail participants. Retail participants can,
>
Exchanges to decide on design and
INDIVJAL DHASMANA & SANJEEB MUKHERJEE however, only use the product for hedging,
participants; in OTC, banks and
New Delhi, 15 September while non-retail participants can use it for primary dealers can participate
any purpose. >
TFPIs can take exposure of up to

K
olkatans had to fork out ~100 for
a kg of tomatoes on Monday,
while they paid 40 per cent less
at ~60 just a month ago.
In a draft guideline released on its web- ~5,000 crore all put together
site, the central bank said retail partici-
pants can be allowed to trade on Forward
TOMATO ONION POTATO Rate Agreement (FRA), Interest Rate Swap interest rate derivatives (IRD) for a collec- makers in India may offer rupee IRD trans-
100 (66.66)

Similarly, consumers in Delhi had to (IRS), and European Interest Rate Options tive ~5,000 crore in net long positions. actions to non-residents but such trans-
63 (16.66)

90 (73.08)

shell out ~41 to buy a kg of onions on (IRO), including caps, floors, collars and Additionally, “the net short position of an actions have to be undertaken directly
50 (42.86)

46 (39.39)
Monday against just ~20 on August 14. reverse collars, while non-retail traders can FPI on exchange-traded IRDs shall not with a market-maker in India, or by way
36.5 (62.22)
36 (58.24)

68 (38.77)

35 (45.83)
41 (105)

42 (13.51)
38 (100)

Moreover, wholesale prices were just ~19 take exposure in swaptions and structured exceed its long position in government of a ‘back-to-back’ arrangement through

29.5 (15.69)
30 (57.89)

30 (76.47)

43 (7.5)
19.5 (143.75)

32 (14.29)
37 (5.71)
26.25 (11.7)

30 (111.11)
22 (69.23)
a kg in the national capital on Monday. derivative products, excluding leveraged securities and other rupee debt securities,” a foreign counterpart of the market-maker

25 (21.95)
19 (76.74)

Wholesale prices of potatoes, too,
were ~25 per kg in Mumbai on Monday
but end consumers bought it at ~43 a kg.
They paid a bit less at ~40 a month ago.
Though the government has swung
into action on one of the commodities,
onions, and banned its export, experts
said it would’ve been better to have
ensured adequate imports in advance.
“There should be very good market
intelligence, which tells me that there
will be a major shortfall and we can start
importing immediately. We will realise
the shortage after a month or so and we
will float tenders which will take their
own time,” said Madan Sabhnavis, chief
economist at CARE Ratings.
But why the divergence between the
wholesale and retail prices are widening?
“I think the divergence has only
increased in the last few months, despite
easing of the lockdown, and is due to
continued supply side disruption and
localised setbacks to trade,” said
Mahendra Dev, director of Indira Gandhi
Institute of Development Research.
Dev said the excess rains in August
also disrupted supplies in some areas
and damaged standing crops,
such as onions, in Karnataka and
Andhra Pradesh.
Both the southern states received
over 40 per cent surplus rains in August,
which inundated large tracts of land.
“The production shortage is largely
localised,” Dev said.
On the onion export ban,
India Ratings’ Chief Economist
Devendra Pant said the move might look
negative from a free trade point of view.
However, the government is taking these
measures to contain prices. At a time
when salaries are reduced and jobs
declining, hike in prices come as a dou-
ble whammy, he said.
derivatives and derivatives on derivatives. the RBI said. in India. “Every rupee interest rate deriv-
Presently, only interest rate futures and Such IRD transactions can be carried atives transaction undertaken offshore by
interest rate options are allowed on gov- out on exchanges as standardised pro- any related entity of a market-maker in
ernment securities. With the introduction ducts. The exchanges will be allowed to India, shall be accounted for individually
Delhi Mumbai Kolkata Chennai Delhi Mumbai Kolkata Chennai Delhi Mumbai Kolkata Chennai of many more IRF products, corporate come up with their own product design, in the books of the market-maker in India,”
debt could also be incorporated for making eligible participants, and other details of the RBI said.
Source: Department of Consumer Affairs
derivatives over time, say experts. Foreign the IRD. In the OTC markets, banks and Resident Indian companies with a
Portfolio Investors (FPIs) would be allowed primary dealers would act as market minimum net worth of ~500 crore will be
However, for farmers such as Sangathan, a farmers group active in MP to transact in permitted exchange-traded makers. Foreign counterparts of market- eligible to trade in these products.
Bhagwaan Meena in faraway Madhya and Rajasthan, said,
Pradesh, the sudden ban on exports has “Till yesterday, onion was trading
sharply pulled down the price of onions. at around ~38-39 a kg in Indore and
He blames the government for the loss Ratlam mandis, but today the prices
he has suffered. have come down by almost ~6 a kg and
A PTI report says farmers in Nashik’s in the next few days onions will start
Huge liquidity surplus unlikely to
be inflationary, say economists
Lasalgaon area, home to the largest trading below ~25 a kg.
onion market in the country, and some When prices rise, everyone is unhappy,
other trading spots in the district on but no one thinks of farmers when
Tuesday took to the streets prices crash.” ANUP ROY 70 per cent now. Of course, the for the central bank — keep- markets. Transmission of
in protest against the ban. He said that in the Mumbai, 15 September borrowing programme for this ing the interest rates low. monetary signals to the long
Agitations took place at Farmers in Nashik’s next few weeks, fresh year has to end before any Abundant liquidity is end of the yield curve along
Mungse, Pimpalgaon, Lasalgaon area and onion crops will start The banking system con- thought on liquidity should unlikely to be inflationary with lending rates is going to
Nampur and Umrane mar- some other trading coming from tinues to remain flush with cross the mind of the regu- when the economy is operat- be a priority going forward,”
kets and protesting farmers spots in the district Maharashtra and liquidity, and the Reserve lator, say experts. ing well below potential and said Kapur.
stalled auctions for some protested against the farmers won’t get good Bank of India (RBI) is in a no “The liquidity surplus aggregate demand is so In a contracting economy,
10,000 quintals that had ban on exports of prices for their produce. hurry to neutralise it. helps support government weak, according to Gaurav the usual assumptions may
arrived, and also tried to onions on Tuesday. “Think of the farmer High system liquidity is borrowing. It is actually sub- Kapur, chief economist of not always hold true. “The
stop traffic in the vicinity, The Centre has who has sown onion in generally a cause for concern stituting revenue shortfall, IndusInd Bank. long-standing assumption of
officials said. banned the export to monsoon thinking of as it can stoke inflation, but and would not lead to infla- Instead, the large surplus downward nominal wage
Aditi Nayar, principal increase availability getting a good price by the situation now is quite dif- tionary forces now as spend- liquidity is definitely helping rigidity in 1969-1970s, and
economist at ICRA, said and check price in the Diwali. He will be devas- ferent. Instead of pushing up ing is low and there is low in keeping cost of borrowings, hence the wage price nexus
prices of these three staples domestic market tated,” Meena added. inflation, the huge surplus capacity utilisation, which can up to three years, low for var- stemming from inflation
tend to be fairly volatile Rajendra Sharma, a liquidity, bordering at around be ramped up if needed,” said ious class of borrowers expectation, is absent right
and managing them has prominent onion trader ~7 trillion daily, is helping in Madan Sabnavis, chief econ- and had reduced the refinanc- now with weakening orga-
often proved to be problematic, particu- from Azadpur Mandi in Delhi, said policy rate transmission and omist of CARE Ratings. ing risk significantly. “In nised labour market activity,”
larly in the case of onions, which are supplies were down during the lock- aiding the government to The annual government essence, a financial logjam said Soumya Kanti Ghosh,
grown in a limited area. down, but the situation has considerably borrow at a cheaper rate. borrowing is pegged at ~12 tril- has been averted through group chief economic advisor
She said while prices are spiking, improved now and prices have risen Therefore, analysts expect lion, without yet counting a lower rates and liquidity sup- of State Bank of India group.
they may eventually crash, posing diffi- because of crop damage. this liquidity surplus mode to possible extra borrowing port,” Kapur said. “With people holding cash,
culties to farmers. Managing onion For instance, 114,175 tonnes of onions continue well into the next towards the end. Half of this “The role of monetary pol- there is a collapse of money
prices is often extremely challenging, arrived in Delhi mandis in July, but only year, till such time the econ- has already been done at icy to stimulate the economy multiplier. Under such cir-
and the situation sometimes warrants a 80,837 tonnes were supplied the follow- omy starts picking up and around the 6 per cent-mark, is to reduce the interest costs cumstances, liquidity is
temporary ban on exports. ing month. Now, 56,899 tonnes of have capacity utilisation increases thanks to the surplus liquidity across various class of bor- unlikely to drive inflation at
Meena, who is also the National arrived in September. The story is the to a reasonable degree of say in the system. This is also rowers and through various least till the time demand
General Secretary of Kisan Swaraj same for the other two crops as well. nearly 80 per cent, from below serving an important function channels — banks and bond picks up,” Ghosh said.

> FROM PAGE 1

India’s role
‘We don’t expect major defaults in producing
Covid vaccine
in our corporate bond portfolio’ critical: Gates
It is more than what it was in tive bancassurance partners
FY20. We are not considering and in 2019-20 it procured
scaling down our targets. We 66,751 policies with a premium
hope at the end of FY21 we will of ~699.03 crore. We are open
reach our budgeted figures. to bank tie-ups as corporate
In August, in composite agents and look forward to
premium, we had a growth rate such relationships. Life insur-
of 15.19 per cent, which is better ance in India is mainly agency-
than the industry average of driven and will continue to be
14.79 per cent. In policies, in so even in the digital era.
the same month, there was a Agents contribute 62.26 per
decline of 24.08 per cent and cent of individual new busi-
in cumulative terms, up to ness premium in the industry
August, we sold about 4.5 mil- and 95.81 per cent of LIC’s indi- PRESS TRUST OF INDIA
lion policies with a 66.15 per year up to August 31. We are vidual new business premium. New Delhi, 15 September
cent market share and sector-agnostic and believe in With the life insurance busi-
~71,415.18 crore of composite assessing and investing in fun- ness expected to grow by 12-15 Billionaire philanthropist Bill
premium with a 71.87 per cent damentally strong companies. per cent in the coming years, Gates (pictured) has said
market share. Our Given the emerging LIC will play a crucial role in India’s willingness to play a
business activities situation due to the creating employment in the “big role” in manufacturing
are picking up and pandemic, we believe agency channel. Despite the Covid-19 vaccine and allow it
we will finish FY21 that companies with nationwide lockdown and sub- to supply to other developing
Raja Bahadur International Ltd with much better strong fundamentals sequent unlock phases, LIC countries will be a critical
CIN - L17120MH1926PLC001273
Regd.Office : Hamam House, 3rd Floor, Ambalal Doshi Marg, Mumbai-400001
numbers. M R KUMAR in every sector will has a net addition of 60,771 part in containing the
Tel: 022-22654278, Fax: 022- 22655210, Email : investor@rajabahadur.com, Website : www.rajabahadur.com Chairman, LIC perform well. agents to its agency force as of pandemic globally.
LIC has substantial August 31 and the number of In an exclusive interview
EXTRACT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE, 2020 exposure to What is the status of agents stand at 1.27 million. to PTI, Gates, whose founda-
Rs. in Lakhs Except share data companies through bonds. LIC’s IPO? Is there any clarity tion is focusing on fighting
Sr. Particulars Quarter Ended Year Ended Given the situation, where the on how much the government Is LIC looking to pare its stake the pandemic, called it the
No. 30-Jun-20 31-Mar-20 30-Jun-19 31-Mar-20 cash flow of firms has been is looking to divest? in IDBI bank anytime soon? “next biggest thing” the
(Un-audited) (Audited) (Un-audited) (Audited) affected, do you think they The Department of Investment LIC has been providing sup- world has been confronted
will default on their debt and Public Asset Management port and working towards with after the World War. The
1 Total Income from Operations (Net) 199.79 4932.01 161.51 5667.00
2 Net Profit / (Loss) for the period (before Tax, Exceptional and/or
repayment, resulting in an (DIPAM) is looking after the bringing IDBI Bank out of Microsoft co-founder said the
Extraordinary items) (258.83) 4362.19 (337.35) 3257.95 NPA (non-performing asset) IPO aspects of LIC. It is, there- prompt corrective action world is looking to India for
3 Net Profit / (Loss) for the period before tax (after Exceptional and/or problem for LIC? fore, not appropriate on our (PCA). Though IDBI Bank has large scale production of
Extraordinary items) (258.83) 4362.19 (337.35) 3257.95 We received a moratorium part to comment on this. declared profits for two consec- Covid-19 vaccine once it is
4 Net Profit / (Loss) for the period after tax (after Exceptional and/or request in respect of only about utive quarters — March 2020 rolled out.
Extraordinary items) (263.51) 4343.16 (350.14) 3221.88 2 per cent of the bond portfolio. Has there been a rise in and June 2020 — it has not “Obviously, all of us want
5 Total Comprehensive Income for the period [Comprising Companies are fulfilling their demand for loans against emerged out of PCA. It is not to get a vaccine out in India
Profit / (Loss) for the period (after tax) and Other Comprehensive obligations like repaying prin- policies from retail possible at this stage for LIC to as fast as we can, once we
Income (after tax)] (263.80) 4345.34 (349.87) 3222.99
cipal and interest. As a matter consumers due to the commit to a definite timeframe know that it's very effective
6 Equity Share Capital 250.00 250.00 250.00 250.00
7 Reserves (excluding Revaluation Reserve) as per Balance Sheet (1,113.90) of strategy, LIC follows due dil- pandemic? Also, have and at what point the market and very safe, and so the
8 Earnings Per Share (of Rs. 100/- each) igence. We don’t expect major surrenders gone up? would be conducive for reduc- plans are coming into focus
(for continuing and discontinued operations) defaults in our corporate bond In this financial year, as of ing stake. that sometime next year, it’s
Basic: (105.52) 1738.14 (139.95) 1289.20 portfolio due to the pandemic. August 31, there has been a very likely that roll-out will
Diluted: (105.52) 1738.14 (139.95) 1289.20 Our exposure to loans is very decline in the number of loans How many death claims due take place and take place in
KEY FINANCIAL HIGHLIGHTS OF STANDALONE UNAUDITED FINANCIAL RESULTS little and more than 90 per disbursed. LIC has disbursed to Covid-19 has LIC received? fairly big volume,” he said.
cent of our corporate debt 1.09 million loans worth As of September 10, we “The world is also looking
Sr. Particulars Quarter Ended
exposure is through bonds. ~7,887.42 crore as against 1.70 received death intimations due to India for some of that
No. 30-Jun-20 31-Mar-20 30-Jun-19 31-Mar-20
million worth ~11,125.52 crore to Covid-19 for 678 persons. Of capacity to be available to
(Un-audited) (Audited) (Un-audited) (Audited)
What is your strategy for the in the same period last year. those, 408 have been settled. other developing countries.
1 Total Income from operations (Net) 199.79 4932.01 161.51 5667.00 equity markets in FY21? How The number of surrenders has Exactly what that allocation
2 Profit / (Loss) before tax (256.53) 4372.35 (330.73) 3289.57 much profit has LIC made reduced by 31.8 per cent, indi- India’s economic growth formula looks like will have
3 Profit / (Loss) after tax (256.31) 4359.86 (343.47) 3260.13 from sales of shares till now cating the awareness of contin- plummeted in Q1. How much to be figured out,” Gates said.
4 Total Comprehensive Income/ (Loss) (after tax) (256.57) 4362.10 (343.18) 3261.21
and how much are you uing life risk cover. of an effect will this have on Scientists and pharma-
Note: looking to invest? the life insurance sector and ceutical companies globally
a. The above is an extract of the detailed format of Financial Results for the quarter ended on 30 June, 2020, filed with Stock Exchange LIC is a contrarian investor and LIC has been agency-driven, the savings of individuals? are racing against time to
under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly
we are buyers and sellers. We and with IDBI Bank in its fold In the days ahead, the con- find a vaccine for the coro-
Financial Results (Standalone and Consolidated) are available on the Stock Exchange websites at www.bseindia.com and on the
Company’s website www.rajabahadur.com booked profits of more than now, bancassurance seems to sumption behaviour of cus- navirus pandemic which
b. The impact on Net Profit / (Loss), total comprehensive income or any other relevant financial item(s) due to change(s) in accounting ~11,500 crore as of August 31. be an important distribution tomers will change. With an has killed about 9,32,000
policies shall be disclosed by means of a footnote. We will invest in equities when network. Are you planning impact on employment, people and infected around
For Raja Bahadur International Limited there is an opportunity to do any new bank tie-ups and is people will be cautious about 24 million. Some of the vac-
Sd/- so. As of August 31, we invested there a plan to induct more spending. Insurance, a risk cine candidates have
Shridhar Pittie ~40,769 crore in equities this agents this year? mitigation tool, will have pri- entered the third and final
Date: 15th September, 2020 (Managing Director) year against ~25,516 crore last IDBI Bank is one of our produc- ority in their expenses. phase of testing.
Place: Mumbai DIN: 00562400
.
NEW DELHI | WEDNESDAY 16 SEPTEMBER 2020
Sterlite: Red signals
from green protests
The closure of the Vedanta subsidiary’s copper smelter over
environmental concerns has impacted thousands of livelihoods
T E NARASIMHAN
Mumbai, 15 September
A
mritha Chemicals, a chemical
manufacturing unit at
Thoothukudi in southern
Tamil Nadu, was set up around six
years ago. It was one of the many small
and medium downstream industries
that started operations for which the
main raw materials are sulphuric acid
and fluorosilicic acid, by-products
from the Vedanta group’s Sterlite
Copper facility at Thoothukudi. The
Amritha Chemicals factory employs
nearly 100 people.
Gomathi Engineering is another
unit in the same area that does fabri-
cation work for the Sterlite plant. It
employs around 200 people and had
annual revenues of about ~1 crore.
Both units have been closed since
the Sterlite factory was forced to down
shutters on May 22, 2018, after a
protest against the plant’s allegedly
poor pollution management practices
went out of hand and a plainclothes
officer opened fire, killing 13 people.
The protests had begun in February
after Sterlite started work on a ~2,500
crore plan to double the plant’s capac-
ity to 800,000 tonnes per year, when
local villages, activists and politicians
alleged that the plant was environ-
mentally hazardous.
Later, the Tamil Nadu Pollution
Control Board turned down the com-
pany’s application for the renewal of
Consent to Operate licence, and the
state government ordered the factory
RBI’s third eye
As challenges mount, the central bank will
need to strike a fine balance between
managing the rupee, domestic liquidity
and fiscal financing
PRANJUL BHANDARI
A
s the pandemic took hold, the
last few months were tough.
But the Reserve Bank of India
(RBI) sailed through, almost making
it look effortless. It supported the
economy in every possible way —
rate cuts, liquidity infusions and
regulatory easing.
In terms of monetary policy, the
RBI sought to balance two objectives:
Not letting the rupee appreciate in
the midst of a pandemic and provid-
ing enough liquidity to support a
recovery. Luckily, the two were
aligned. A shrinking trade deficit and
large capital inflows enabled it to buy
dollars, build up currency reserves
and infuse rupee liquidity into the
banking system. The large liquidity
surplus helped the interest rate cuts
filter through to the money, corporate
and government bond markets.
But the next few months could get
harder. In the first half of the year, the
mere expectation of the RBI buying
government bonds (known as open
market operations, OMOs) later in the
year to help the government fund a
large fiscal deficit was enough to
soothe bond market nerves. But it is
now expected to “walk the talk”.
The fiscal situation is tight. The
central government’s fiscal deficit
could rise to over 8 per cent of GDP
in FY21, from 3.5 per cent budgeted
at the start of the year. In May, it had
already announced that borrowing
will be ~4.2 trillion more than bud-
geted. Over and above that, it has
been borrowing a little more at each
bond auction (and also issuing more
treasury bills than normal, some of
to close. Since then, the company’s
efforts to get the factory reopened
have been unsuccessful, barring a
decision from the National Green
Tribunal (NGT).
On August 18, the Madras High
Court order upheld the importance of
environmental concerns over eco-
nomic considerations and ordered
Sterlite to keep the Thoothukudi
plant closed.
In its 815-page judgment, the court
said that the factory was in a highly
polluting industry and it raised a series
of issues against the plant’s handling of
hazardous wastes. The court even
pulled up the Pollution Control Board
for allowing the plant to run initially.
On its part, the company claims
which can get rolled over). States,
too, will have a considerable fiscal
problem. Accounting for revenue
losses — including the shortfall in
the goods and services tax compen-
sation from the central government
— we believe the state fiscal deficit
will rise to 4.5 per cent of GDP, from
2.4 per cent budgeted. And adding
on the borrowings of public sector
enterprises, the overall public
sector borrowing could cross
16 per cent of GDP.
But, if the RBI helps out by buying
a proportion of these bonds via
OMOs, it would add to the already
elevated rupee liquidity.
Meanwhile, large dollar inflows
continue unabated. If the
RBI does not want the When pandemic
rupee to appreciate fears recede, the
sharply, as seemed to be RBI will have to
the objective until July, it move quickly,
will have to continue buy- withdrawing
ing dollars. That would excess liquidity so
increase domestic liquidi- it does not become
ty further. inflationary, and
Buying bonds and dol- yet do it without
lars at a time when bank- hurting the
ing sector liquidity is recovery
already elevated could
raise eyebrows. But why fear surplus
domestic liquidity?
It can be a double-edged sword.
Ample liquidity is necessary to
support and revive the economy
after an unprecedented shock. But
too much of it could stoke macro
imbalances like inflation and a
wider trade deficit, eventually
hurting the very recovery it was
meant to support.
Indeed, inflation can’t be ignored.
At 6.7 per cent in August, it has been
outside the 2-6 per cent target band
for several months. And inflationary
pressures seem widespread across
food, fuel and other core categories.
To cut a long story short, the
RBI’s challenges are rising. Not only
is it expected to keep an eye on the
exchange rate and domestic liquidi-
ty like over the last few months, but
now it also needs to play a role in fis-
cal financing. All of this at a time
that the hazardous wastes identified by
the state pollution control board had
been delisted. Senior advocate C A
Sundaram, appearing for Vedanta,
described the high court’s decision to
keep the plant closed as “retrograde”.
He also said “the factory is in dire
straits” and asked the court to protect
the company from any “coercive steps”
from the state government.
On the concern over pollution,
which is key to the entire issue, Sterlite’s
argument is that there is a case for
heightened pollution in the
Thoothukudi area, but it has not been
conclusively proven anywhere that
Sterlite specifically was the cause of it.
There are 67 other “red category”
industries in the area, including ther-
when inflation seems uncomfort-
ably elevated.
Will the RBI manage? Only if it
strikes a fine balance between its
various objectives (the rupee, infla-
tion and bond yields), by doing a
little bit for each.
But won’t that stoke the classic
“impossible trinity” problem for the
RBI, whereby only two of the three
are simultaneously possible — a
fixed exchange rate, capital account
convertibility and monetary policy
independence?
How can the RBI keep the rupee
from appreciating much, allow
large capital inflows and still have
monetary policy space for keeping
liquidity loose?
Historically and globally, this has
proven impossible. The main reason
for this is as follows: Simply put, if a
central bank is, say, buying dollars to
keep the exchange rate from appre-
ciating during a period of large dol-
lar inflows, that will result in surplus
domestic liquidity,
which could stoke
inflation. Something
has to give.
So how will the RBI
manage it all? We
believe three things
could make it possible.
One, as long as bank
lending remains weak,
excess liquidity may
not slip out into the
real economy, further
stoking inflation.
Second, food inflation could fall
towards the end of 2020, led by a
favourable base effect, a new crop
coming into the market and repaired
supply chains.
Third, currency in circulation
has been growing rapidly and if this
continues, there will be organic
demand for the RBI to replenish
banking sector liquidity by buying
dollars or bonds.
But there are several risks
involved. One, despite low credit
growth, broad money growth is ele-
vated. A small rise in credit growth
could push it up to unsustainable
levels. Two, while food inflation is
likely to fall, core inflation remains
surprisingly high.
All told, while we believe the
RBI will just about manage the
situation by striking a balance
across its various objectives, it will
have to be vigilant, looking out for
turning points.
The biggest challenge will per-
haps come later when pandemic
fears recede, activity picks back up,
and central banks begin to with-
draw liquidity globally. The RBI will
have to move quickly then, with-
drawing excess liquidity so it does
not become inflationary, and yet do
it without hurting the recovery.
That deft manoeuvering will per-
haps be the RBI’s toughest chal-
lenge of all. But that is a problem
for another day.
The writer is Chief India Economist,
HSBC Securities and Capital Markets
(India) Pvt Ltd
TAKE TWO 9 <
US-China split will
mal power plants of 5,000 Mw (some of roughly 35 per cent of the country’s
them decades old). copper demand. “It is disheartening
“We firmly believe in the environ- to note that at a time when our nation
mentally sound nature of our opera- is forced to depend on hostile neigh-
tions,” countered Pankaj Kumar, CEO, bours for copper imports, certain for- hurt clean energy
Sterlite Copper. “At no point in our ces are conspiring to stifle our nation’s
operations were any concerns of pol- ability to be an independent copper MEGHAN L O'SULLIVAN
lution raised by the appropriate author- manufacturer,” Kumar said. 15 September
ities,” he added. He said the state and the Centre
He argued that the emission norms exchequer have lost an equivalent The search for silver linings to
set by the authorities when the smelter amount in the past two and half years the pandemic has come up
opened in 1994-95 was 4 kg of sulphur owing to customs duties since the plant
dioxide (SO2) per tonne of sulphuric used to import raw materials such as
woefully short. But one hope-
ful prospect is that the disrup-
acid (H2SO4), a key raw material in copper concentrate, rock phosphate, tion will accelerate the shift to a
the smelting process. Later the norm limestone, coal, pet coke and so on. more sustainable energy future.
was revised to 1kg of SO2 per tonne of Milan Mehta, Managing Director, There is a compelling logic
H2SO4 in line with international stan- Precision Wires India Ltd, said there to link Covid-19 and its geopo-
dards. To comply, the company says it has been a significant impact on the litical makeover to a change in toll on the economies of both
has spent ~400-500 crore in bag filt- entire downstream copper processing energy fortunes. Energy and countries, but the impact on
ers, scrubbers, tail gas scrubbers and industry comprising thousands of geopolitics have always been China was more significant.
so on since 2013 and says its SO2 emis- MSME units as a result of the Sterlite intertwined. Before the pand- Trade tensions curbed business
sions are now 0.5 kg Copper plant closure. emic, there was a growing body investment and factory activity
per tonne of H2SO4. Sterlite’s argument Last year, the down- of work looking at how the en- in China, helping tamp Chinese
“Legal luminaries is that there is a stream industries made ergy transition, primarily away economic growth to its lowest
heard our case in the case for heightened do with imports coming from fossil fuels and toward re- rate in nearly 30 years.
NGT and passed judg- pollution in the in through the Free Trade newables, was going to reorder This decline in economic
ment in our favour on Thoothukudi area, Agreements (FTAs) with global politics. Less recognised, growth sent shivers through the
merit alone,” Kumar but it has not been Japan but that source has however, is that the street goes Communist Party. It led the
pointed out. conclusively proven dried up owing to the two ways: geopolitics will also government to enact fiscal and
While all the parties anywhere that higher duties imposed by shape the energy transition. monetary policy measures that
concerned, including Sterlite specifically the Centre. “The capacity The ways in which Covid- collectively signalled that Beij-
environmentalist lob- was the cause of it of good quality, cost-com- 19 has restructured the geopo- ing placed on a far higher value
bies, are pointing fin- petitive copper cath- litical landscape are therefore on economic growth than on
gers at each other, the case is sub judice. odes/rods in the country has been cur- relevant to the future of energy. its green transition. Fiscal stim-
But the fact is that caught in the cross- tailed, which will, in turn, cause issues Unsurprisingly, the most con- ulus provided a boost to infra-
fire are the livelihoods of around related to material availability once sequential bilateral relation- structure projects, while invest-
50,000 people — excluding down- the economy picks up. This will lead to ship for the transition is betw- ment in renewable energy fell.
stream industries such as Amritha higher imports which may not be cost een the two largest economies, In October 2019, Premier Li
Chemicals and Gomathi Engineering - competitive and will impact the entire the US and China. There’s been Keqiang emphasised the imp-
— that are part of an ecosystem that domestic downstream industries inc- much discussion of how Chi- ortance of coal in China’s ener-
includes truckers, contractors, labour- luding ours,” Mehta, who is also the nese state policy and subsidies gy mix, in what appeared to be
ers, real estate market and even tea Vice Chairman of the Winding Wire can accelerate or slow the shift, a significant departure on the
shops that came up around the plant. Association, pointed out. but less about how the state of nation’s past efforts to limit it.
The company claims it has been “We in the copper downstream affairs between Washington The downward spiral of US-
spending around ~600 crore on the industry are keen that a suitable solu- and Beijing can affect whether China relations is the backdrop
local economy, logistics, local imports tion is found within the existing legal and how the world moves to a against which the energy tran-
of materials, contract employees and framework, and hope that the smelter more sustainable energy mix. sition will unfold.
so on. Thoothukudi is one of the drier is allowed to restart,” he added. The rapidly deteriorating We might think about two
parts of the state so few industries Relief may be some time away. US-China relationship should broad models for the global
have come up here, except for power When the matter came up for a hearing be a cause of major concern. shift: a top-down transition and
plants, chemical plants, salt produc- on August 31, the Supreme Court gave This linkage between energy a bottom-up one. Rocky US-
tion and a port. the Tamil Nadu government four and great power relations was Chinese ties, however, create
For Vedanta the loss from the clo- weeks to respond. The next hearing evident well before the pan- obstacles for both.
sure of the pant is estimated at ~5,000 depends on whether the state govern- demic. The trade war between
crore; Sterlite Copper accounts for ment meets that deadline. Washington and Beijing took a Bloomberg
BANNARI AMMAN SPINNING MILLS LIMITED
Regd. Office : 252, Mettupalayam Road, Coimbatore – 641 043.
Phone : 0422-2435555, 2447959 e-mail : accts@bannarimills.com
CIN: : L17111TZ1989PLC002476 Website : www.bannarimills.com
EXTRACT OF UNAUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30.06.2020
Standalone
[Rs. in Lakhs except EPS]
Consolidated
Sl. Quarter Quarter Quarter Year Quarter Quarter Quarter Year
No. Particulars Ended Ended Ended Ended Ended Ended Ended Ended
30.06.2020
(Unaudited)
31.03.2020
(Refer Note 4)
30.06.2019
(Unaudited)
31.03.2020
(Audited)
30.06.2020
(Unaudited)
31.03.2020
(Refer Note 4)
30.06.2019
(Unaudited)
31.03.2020
(Audited)
1 Total income from operations (net) 10,739.07 24,095.35 22,876.94 94,344.59 13,726.14 28,282.26 28,157.83 1,15,237.40
2 Net Profit/(Loss) for the period (before tax, Exceptional and/ (2,706.13) (992.32) 457.24 23.49 (2,822.37) (987.91) 801.68 1,003.52
or Extraordinary items)
3 Net Profit/(Loss) for the period before tax (after Exceptional (2,706.13) (992.32) 457.24 23.49 (2,822.37) (987.91) 801.68 1,003.52
and/or Extraordinary items)
4 Net Profit/(Loss) for the period after tax (after Exceptional (2,292.63) (764.39) 476.59 19.90 (2,381.22) (859.18) 721.09 590.49
and/or Extraordinary items)
5 Total Comprehensive Income for the period [Comprising (2,292.63) (707.09) 476.59 77.20 (2,381.22) (771.22) 721.09 678.45
Profit/(Loss) for the period (after tax) and other
Comprehensive Income (after tax)]
6 Equity Share Capital 1,575.43 1,575.43 1,575.43 1,575.43 1,575.43 1,575.43 1,575.43 1,575.43
7 Reserves (excluding Revaluation Reserve) as shown in the - - - 29,096.74 - - - 29,658.21
Audited Balance Sheet
8 Earnings per Share (of Rs.10/- each) (for continuing and
discontinued operations)
a) Basic (14.55) (4.85) 3.03 0.13 (15.11) (5.45) 4.58 3.75
b) Diluted (14.55) (4.85) 3.03 0.13 (15.11) (5.45) 4.58 3.75
Notes :
The above is an extract of the detailed format of financial results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. The full format of unaudited financial results are available on the Stock Exchange Website www.nseindia.com,
www.bseindia.com and on the company’s website www.bannarimills.com
For and on behalf of the Board of Directors
S.V. Arumugam
Place : Coimbatore Managing Director
Date : 15.09.2020 DIN: 00002458
10 WORLD
>
NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020

IN BRIEF
Lawbreaking Brexit Bill Billionaires line up to take unloved firms private
HEADING FOR EXIT
SoftBank buybacks paused in
DINESH NAIR AND RUTH DAVID
clears first House hurdle 15 September
Take-private deals
UK Prime Minister Boris Johnson’s plan to renege on part of the
Brexit divorce deal passed its first hurdle in Parliament late
Monday after a bruising debate in which senior members of his
Move over, private equity: There are
some new buyers in town, and they
know their targets better than
involving related party
Q1 2019: $240.3 million
Q2 2019: $617.2 million
August, so did its stock rally
own party denounced the move. The House of Commons anyone. Billionaire owners from Q3 2019: $130.2 million REUTERS its mega-deal to sell its Arm chip divi-
passed the Internal Market Bill by 340 to 263 in its first main Japanese tycoon Masayoshi Son to Tokyo, 15 September sion for $40 billion to Nvidia,
vote, allowing it to go through to the next stage in the French media magnate Patrick Drahi
Q4 2019: $10.8 billion announced Monday.
parliamentary process on Tuesday. The prime minister said the are looking at removing their crown Q1 2020: $8.2 billion SoftBank Group suspended its multi- Without the support of the buyback,
proposed legislation, which will rewrite part of the Withdrawal jewels from the spotlight of public SoftBank Chairman Masayoshi Son and Q2 2020: $14.6 billion billion dollar buyback programme in shares were basically flat in August, ris-
Agreement, is “essential” to maintain the UK’s economic and markets. The potential moves to take Altice Europe’s founder Patrick Drahi are Q3 2020: $3.2 billion August, bringing to a halt the significant ing just 0.05 per cent. SoftBank shares
political integrity. He accused the European Union of making their firms private mean they won’t planning to take their firms private Source: Bloomberg share price gains that have gained every month
“absurd” threats to stop food moving from mainland Great have to deal with volatile markets Masayoshi Son’s conglom- Buybacks have been this year since the corona-
Britain to Northern Ireland. “The EU hasn’t taken that particular and increasingly vocal shareholders. “While we have seen more com- Group, is revisiting the idea of a man- erate has largely enjoyed a major driver for virus pandemic-fueled a
revolver off the table,” Johnson told MPs. BLOOMBERG Companies have already panies deciding to stay private for agement buyout of the Japanese since the plan and asset SoftBank's shares, market collapse in March.
announced $26 billion of transac- longer in the last couple of years, we conglomerate, according to people sales were announced ear- which climbed 160 That month, it announced
tions to be taken private by a related are also witnessing a trend where with knowledge of the matter. The lier this year. per cent from March plans to launch asset sales
Nissan ex-executive Kelly’s party this year, up about 2,500 per
cent from the same period in 2019,
public companies are looking to go
private,” said Isabelle Toledano-
deliberations reflect continued frus-
tration at the gap between the com-
In a filing to the stock lows to peak on
exchange
and also scoop up stock
Tuesday, August 3 when they worth as much as $23.6 bil-
trial begins without Ghosn according to data compiled by
Bloomberg. Many of the deals
Koutsouris, head of private capital
markets for Europe, West Asia and
pany’s $126 billion market capitali-
sation and the value of its sprawling
SoftBank said it hadn’t closed at 6,932 yen lion during the fiscal year.
bought back stock between SoftBank shares surged by
Former Nissan Motor executive Greg involve ultra-rich founders who have Africa at UBS Group AG. “This has investment portfolio. On Friday, August 4 and the end of that month, more than 20 per cent in July. The stock
Kelly denied charges he helped former been helped by cheap financing and been in the making in the last few Drahi offered ^2.5 billion ($3 billion) after previously announcing it had hit its 2020 high of 6,932 yen on August
boss Carlos Ghosn hide income as the the sluggish share performance of months given the market volatility to buy the shares he doesn’t already acquired shares on August 3. It blamed 3 — the last day the company purchased
American lawyer's trial opened in their businesses at a time when the resulting from the pandemic.” own in telecommunications pro- “nonpublic facts” around insider trad- shares, according a statement to the
Tokyo on Tuesday, almost two years broader market is surging. Son, chairman of SoftBank vider Altice Europe. BLOOMBERG ing for the inaction, a likely allusion to Tokyo Stock Exchange on Tuesday.
after Japanese prosecutors arrested
the pair. Kelly, who has been on bail in
Japan since his release from jail in
2018, delivered his plea to the court
without co-accused Ghosn, who fled
to Lebanon in December following a US violated New flashpoint: US issues China
trade rules
dramatic escape from Japan. A representative from Nissan,
which was also indicted, told the three judges the automaker
did not contest the charges. REUTERS travel warning, bans five exports
Tencent latest Chinese with tariffs on Trump admin warns Americans of ‘arbitrary detention and exit bans’
firm to invest in Singapore Consumers in
AGENCIES

Gaming giant Tencent said on Tuesday it would develop a China: WTO Washington/Beijing, 15 September

China open
T
regional hub for Southeast Asia in Singapore, opening a new he Donald Trump
office and becoming the latest Chinese tech firm to invest in the
city-state. The new hub comes on the heels of a planned
BLOOMBERG
15 September
administration issuing
a sweeping new adviso- their wallets
expansion by TikTok owner ByteDance and investment by ry warning against travel to REUTERS

T
Alibaba Group Holding Ltd as firms look to deepen their he World Trade
exposure to fast-growing Southeast Asia - home to about 650 Organization under-
million people. Singapore has also gained fresh appeal as a cut the main justifica-
base for Chinese corporate operations, benefiting from the tion for US President Donald
political tensions that have rocked rival hub Hong Kong and Trump’s trade war against
growing distrust of China in the United States and other parts of China, saying that American
the world. Tencent will develop a full-scale comprehensive tariffs on Chinese goods vio-
hub in Singapore that will house its international game late international rules.
publishing business, said a source. REUTERS A panel of three WTO trade
experts on Tuesday said the
US broke international rules
Poisoned Navalny will when it imposed tariffs on
Chinese goods in 2018.
Washington has imposed
likely to ‘return to Russia’ levies on more than $550 bil-
lion in Chinese exports.
The panel said in its report
“that the United States had not
met its burden of demonstrat-
ing that the measures are pro-
visionally justified.”
While the ruling bolsters
Beijing’s claims, Washington
can effectively veto the deci-
sion by lodging an appeal at
any point in the next 60 days.
That’s because the Trump
administration has already
paralyzed the WTO’s appellate
body, a tactic that has ren-
dered toothless the world’s
foremost arbiter of trade.
“...THE UNITED STATES HAD
NOT MET ITS BURDEN OF
DEMONSTRATING THAT
THE MEASURES ARE
PROVISIONALLY JUSTIFIED”
A PANEL OF THREE
WTO TRADE EXPERTS
| Washington can
effectively veto the
decision by lodging an
appeal at any point in
the next 60 days.
imposing retaliatory measures
against another country.
The US tariffs against
China were authorised under
Section 301 of the Trade Act
of 1974, which empowers the
president to levy tariffs and
other import restrictions whe-
mainland China and Hong
Kong, citing the risk of “arbi-
trary detention” and “arbitrary
enforcement of local laws.” It
also banned cotton, hair pro-
ducts, computer components,
and some textiles from China’s
Xinjiang province which are
made “using forced labour”.
The travel advisory is likely
to heighten tensions between
the US and China which have
spiked since Beijing’s imposi-
tion on Hong Kong of a strict
new national security law in
June. The new advisory warned
US citizens that China imposes
“arbitrary detention and exit
bans” to compel cooperation
with investigations, pressure
family members to return to
China from abroad, influence
civil disputes and “gain bar-
gaining leverage over foreign
governments.”
Earlier, the US government
banned the import of select
goods from China, alleging that
they are produced in forced
Chinese President Xi Jinping speaks during a video meeting
with German Chancellor Angela Merkel and other EU leaders
Tear down your barriers, EU tells Xi
The European Union stepped up
demands on China to open its
market further to foreign
investors, seeking to keep alive a
goal for a far-reaching deal this
year, even as disagreements
over human right issues could
fuel uncertainty.
Following a video
conference that brought
together German Chancellor
Angela Merkel, EU summit chair
labour camps in the restive
Muslim-majority Xinjiang
province.
China’s foreign ministry
Charles Michel, European
Commission chief Ursula von der
Leyen, and Chinese President Xi
Jinping, the bloc’s
representatives said the ball is in
China’s court to meet a 2020
target date for sealing the long-
sought investment deal.
The EU said Beijing must
follow up recent offers to pursue
fairer economic policies with
more concessions. BLOOMBERG
said the import ban on some
products from Xinjiang region
was sabotaging global supply
chains.
Beijing, 15 September
China’s industrial output accel-
erated the most in eight
months in August, while retail
sales grew for the first time this
year, suggesting the economic
recovery is gathering pace as
demand starts to improve more
broadly from the Covid crisis.
An annual decline in fixed-
asset investment over January-
August also moderated thanks
to expanded stimulus from
Beijing, but authorities remain
wary about the outlook given
heightened external risks,
including Sino-US tensions.
Industrial output growth
quickened to 5.6 per cent in
August from a year earlier, the
fastest in eight months, data
from the National Statistics
Bureau showed on Tuesday.
Retail sales also beat analysts’
forecast with a 0.5 per cent rise
on-year, snapping a seven-
month downturn and bettering
expectations for zero growth.

Section 301
The dispute centers on the
Russian opposition leader Alexei Navalny posted a picture of
himself from his hospital bed in Germany on Tuesday, looking
Trump administration’s use
of a 1970s-era US trade law to
unilaterally launch its com-
gaunt but joking wryly about his condition and saying that he mercial conflict against China
was enjoying the ability to finally breathe on his own after in 2018.
being poisoned with a nerve agent. The Instagram post was the China claimed the tariffs
first image of the 44-year-old released since he was taken to violated the WTO’s most-
Berlin's Charite hospital two days after falling ill on a domestic favored treatment provision
flight in Russia on August 20. Further, Navalny’s spokeswoman because the measures failed to
said he is planning to return to Russia. “We haven’t discussed provide the same treatment to
concrete plans yet,” she added. AGENCIES all WTO members. China also
alleged the duties broke a key
dispute-settlement rule that
Journalists critical of Imran requires countries to first seek
recourse from the WTO before
govt face treason charges
At least three journalists in Pakistan have been charged for
alleged sedition in the past week, raising concerns that Prime
Minister Imran Khan’s government is increasingly intolerant of
media criticism. Bilal Farooqi, the news editor at the Express
At JPMorgan, productivity falls for WFH staff Pakistan Parliament
Tribune, said he was arrested by the Karachi police last week on
charges of sedition for defaming the country’s army and
BLOOMBERG
15 September
criticising the government but later he was released on bail.
Absar Alam, a former anchor at AAJ news channel, said he also A troubling pattern emerged as
faced similar accusations in charges made available to him by most of JPMorgan Chase’s
police. Asad Ali Toor, a journalist at Samaa television, is facing a employees worked from home
sedition case, the local media reported. AGENCIES to stem the spread of Covid-19:
productivity slipped.
Work output was particu-
larly affected on Mondays and
never a foreign country
imposes unfair trade prac-
tices that affect US commerce.
WORLD’S TOP
10 BROKERS
An upstart Chinese brokerage
The Trump administration
has claimed the tariffs were
necessary to confront China’s
Market Cap $ bn
Morgan Stanley 79.0
now bigger than Credit Suisse
widespread violations of intel- Goldman Sachs 72.0 BLOOMBERG giving it a market value of ing the firm in 2005 as
lectual property rights and Citic 52.0 15 September more than 200 billion yuan Shanghai Dong Cai
forced technology transfer ($29 billion). That puts it Information Tech, his 21 per
policies. CSC Financials 49.4 East Money Information, among the world’s biggest cent stake is now worth $6.2
Though the use of Section East Money 29.6 founded by a 49-year-old traded institutional brokers, billion. East Money has found
301 isn’t unprecedented, the former stock commentator, is making it more valuable than a sweet spot with tech-savvy
provision largely fell out of
Credit Suisse 26.5 one of the big winners in even Credit Suisse, according youth as millions, stuck at
favor in the 1990s after the US Huatai 24.6 China’s wildest stock frenzy in to the Bloomberg data. home amid the coronavirus,
agreed to first follow the China Merchants 24.0 half a decade. Its founder, a former ana- turned to stock trading. Its
WTO’s dispute settlement pro- Shares in the online broker lyst and columnist who goes revenue swelled 67 per cent in
cess before it triggered any
retaliatory trade actions.
Haitong
Source Bloomberg
23.2 and market data provider have
rocketed 78 per cent this year,
by his pen name, Qi Shi, has
become very rich. After start-
the first half of 2020 and its net
income more than doubled.
clears key FATF Bill
with worries that remote work September 13 note to clients.
is no substitute for organic The bank has noticed the
JPMorgan’s findings pro-
vide a data point in the debate
interaction, is part of productivity over whether employees per- PRESS TRUST OF INDIA and terrorist financing
why the biggest US JPMorgan’s decline among form as well at the kitchen Islamabad, 15 September watchdog.
bank is asking more findings provide a “employees in gen- table as they do in the work- The Paris-based Financial
workers to return to data point, eral, not just place, showing extended Pakistan’s Parliament has Action Task Force put
offices. showing extended younger employ- remote work may not be all it’s passed a Bill aimed at bring- Pakistan on the grey list in
“The WFH life- remote work may ees,” JPMorgan cracked up to be, at least for ing more control and trans- June 2018 and asked
style seems to have not be all it’s spokesman Michael some job functions. While pre- parency in the registration Islamabad to implement a
impacted younger cracked up to be, Fusco clarified, pandemic studies found and regulations of cooper- plan of action to avoid being

As India bans exports, Fridays, according to findings

discussed by CEO Jamie
Dimon in a private meeting
employees,

and ‘creative com-

and at least for some
overall productivity job functions
adding younger
workers “could be
disadvantaged by
remote workers were just as
efficient as those in offices,
there were questions about
ative societies to check terror
financing as part of the coun-
try's efforts to escape from
blacklisted.
The Cooperative Societies
(Amendment) Bill, 2020, was
onion turns costlier with Keefe, Bruyette & Woods
(KBW) analysts. That, along
bustion’ has taken a hit,” KBW’s missed learning opportuni-
Brian Kleinhanzl wrote in a ties” by not being in offices.
how staffers would perform
under compulsory lockdowns.
being blacklisted by the
global money laundering
moved in the National
Assembly on Monday.

by 50% in Bangladesh
REUTERS
Dhaka, 15 September
Onion prices in Bangladesh
jumped by more than 50 per
cent on Tuesday, following a
ban on exports by largest sup-
plier India after its crop was
damaged and harvesting
delayed by excessive rain,
industry officials said.
The surprise move, which
took immediate effect on
Monday, could help cut prices
in India, but boost prices in
Asian nations such as
Malaysia, Nepal and Sri
Lanka, apart from
Bangladesh, since they rely
on Indian shipments.
“What will we eat now?”
asked Dhaka garment worker
Munna Khan, who was laid
off from his job in March after
the coronavirus outbreak
“...PAKISTAN AND OTHER
ONION EXPORTERS WILL
BENEFIT IMMENSELY FROM
THIS SITUATION. IN VIEW OF
ALL THIS, I URGED PIYUSH
GOYAL JI TO RECONSIDER THE
BAN ON ONION EXPORTS”
SHARAD PAWAR
NCP leader
shuttered many businesses,
hitting incomes for many,
while driving up the prices of
commodities. “Prices of all
items went up when we have
no income.”
Retail prices of the root
vegetable, a staple of subcon-
tinental cuisine, jumped in
Dhaka to 90 taka to 100 taka
($1.06 to $1.18) per kg on
Tuesday, from 60 taka on
Monday and 30 taka at the
beginning of the month.
As Gulf starts opening to Israel, Palestinians face a reckoning
RAMI AYYUB
Jerusalem, 15 September
Israel’s rapprochement with Gulf
Arab states has left the Palestinians
feeling abandoned by traditional
allies and clutching an old play-
book in a rapidly changing West
Asia, analysts and critics say.
As the United Arab Emirates
and Bahrain sign normalisation
accords with Israel at a White
House ceremony, Palestinian
leaders face calls to overhaul their
strategy to avoid becoming margin-
alised in a region where Israel and
most Sunni Arab regimes share a
fear of Iran.
The Palestinian approach to
securing freedom from Israeli occu-
pation has for years relied on a
But the Palestinians last week
failed to persuade the Arab League
to condemn nations breaking
ranks. Tuesday’s ceremony, hosted
by US President Donald Trump, will
be “a black day in the history of
Arab nations”, Palestinian Prime
Minister Mohammad Shtayyeh said
on Monday.
Shtayyeh said the Palestinians
are now discussing whether to
“adjust Palestine’s relationship with
the Arab League.” But critics say the
proposed move is too little too late,
with President Mahmoud Abbas
Palestinians in West Bank protest the signing of agreements toward facing mounting criticism for their
normalising Israel’s relations with the UAE and Bahrain PHOTO: REUTERS increasingly isolated position.
“There is very little indication
longstanding pan-Arab position Gaza and Israel’s acceptance of that the (Palestinian) leadership is
that called for Israeli withdrawal Palestinian statehood, in return for contemplating a break from its
from the occupied West Bank and normal relations with Arab nations. approach,” Tareq Baconi, an analyst
with the International Crisis Group,
told Reuters.
The Palestinians’ strategy cen-
tres on holding Israel to account in
international legal tribunals, and
trying to break the United States’
dominance over the Israeli-
Palestinian peace process, Baconi
said. “Arab and European support
in that strategy is crucial, but it is
questionable that the Palestinians
will be able to secure either to the
level required to ensure a just
peace.” Despite signs of shifting
Arab support, Saeb Erekat,
Secretary General of the Palestine
Liberation Organization, said the
underlying Palestinian strategy for
achieving a state in the West Bank,
East Jerusalem and Gaza would not
change. REUTERS
12 POLITICS & PUBLIC AFFAIRS
>
NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020

India intends to introduce

law to ban crypto trading
BLOOMBERG ing as virtual property, not as
15 September fiat money. It is also planning
its own central bank digital cur-

I
ndia plans to introduce a
new law banning trade in
cryptocurrencies, placing
it out of step with other Asian
economies that have chosen to
regulate the fledgling market.
The Bill is expected to be
discussed shortly by the
Cabinet before it is sent to par-
liament, according to people
familiar with the development
who who asked not to be iden-
tified, citing rules on speaking
with the media.
The government will
encourage blockchain, the
technology underlying crypto-
currencies, but is not keen on
cryptocurrency trading,
according to two people. A
finance ministry spokesman
didn’t respond to call and a
message seeking comments.
The central bank had, in
2018, banned crypto transac-
tions after a string of frauds in
the months following Prime
Minister Narendra Modi’s sud-
den decision to ban 80 per cent
of the nation’s currency.
Cryptocurrency exchanges
responded with a lawsuit in the
Supreme Court in September
and won respite in March 2020.
The central bank had, in 2018, banned crypto transactions after
a string of frauds in the months following PM Narendra Modi’s
sudden decision to ban 80 per cent of the nation’s currency
The win in court prompted
an almost 450 per cent surge
in trading in just two months
since March, according to
TechSci Research, reviving
concerns as more Indians risk
savings amid job losses and an
economic slowdown worsened
by the coronavirus pandemic.
Bitcoin marketplace Paxful
reported 883 per cent growth
between January to May 2020
from around $2.2 million to
$22.1 million. WazirX, a Mum-
bai-based crypto exchanger,
grew 400 per cent in March
2020 and 270 per cent in April
2020 on month-on-month
basis, according to TechSci.
Regulating trades
India’s decision will be crucial
as more Asian nation countries
weigh pros and cons of virtual
currencies. Rival China, which
banned initial coin offerings
and virtual currencies in 2017,
recently allowed Bitcoin trad-
rency. Both Singapore and Sou-
th Korea regulate crypto trades.
NITI Aayog, is exploring
possible uses of blockchains —
structures that publicly store
transactional records or blocks
in several networked data-
bases — to manage land
records, pharmaceutical drugs
supply chain or records of edu-
cational certificates. And while
it is planning a virtual cur-
rency, the government is
averse to the idea of the cryp-
tocurrency trades.
A renewed trading ban
could affect more than 1.7 mil-
lion Indians trading in digital
assets and a rising number of
companies setting up plat-
forms for the trade, data shows.
It will also affect companies
like Singapore-based
CoinSwitch, which added
200,000 users after starting
India operations in June and
was reporting volumes of
about $200-300 million,
according to chief executive
officer Ashish Singhal. About
half the users of the Sequoia-
backed company’s local arm
CoinSwitch Kuber are less than
25-years old.

Abolish LTCG on start-up investments: Panel

DILASHA SETH
New Delhi, 15 September
A Parliamentary panel has
“strongly recommended” abo-
lition of long-term capital gains
(LTCG) tax for investment in
start-ups, besides other tax inc-
entives, to drive a sharp post-
pandemic revival. This should
apply to investments made
through collective investment
vehicles such as angel funds,
alternate investment funds
and investment LLPs, it said.
The Parliamentary Standi-
ng Committee on Finance,
headed by former minister of
state for finance Jayant Sinha,
said a strong start-up ecosys-
tem can propel investment,
jobs, and demand creation, to strongly recommend that this two-year period, the
and for that, substantial growth tax on LTCG be abolished for Securities Transaction Tax
capital is required. It also all investments in start-up (STT) may be applied to CIVs
pitched for self-reli- firms (as designated to maintain revenue neutral-
ance in capital fund- by DPIIT) which are ity. Since, investments by CIVs
ing of unicorns to The committee made through collec- are transparent and at fair mar-
cut dependence on also suggested tive investment ket value, it is easy to calculate
funding from China that firms and vehicles (CIVs) such STT associated with these
and US. LLPs should be as angel funds, AIFs, investments. Thus, it can be
The committee allowed to and investment done in lieu of imposing LTCG
also suggested that invest in start- LLPs,” said the report on these CIVs, it noted.
companies and LLPs ups without titled Financing the It also recommended that
should be allowed to being classified startup ecosystem.” the exemption for income on
invest in start-ups as NBFCs by the This was submitted investments made before
without being classi- RBI to expand to the Lok Sabha March 31, 2024, subject to the
fied as non-banking capital sources Speaker last week. investment being held for a
financial companies for start-ups At a minimum, period of at least 36 months as
by the Reserve Bank this should be done incentivised in the Finance
of India (RBI) to expand capital for at least the next two years Act, 2020, should be provided
sources for start-ups. to encourage investments dur- to long-term capital invested
“The Committee would like ing the pandemic period. After across all sectors.

> FROM PAGE 1

Suitors opting...
“There are no takers for real
estate in metros and it will take
a couple of years for customers
to invest in a new hill city,
which has now turned into a
ghost city,’’ said a source close
to the development.
Originally set up by HCC in
2000, Lavasa was developed as
a picturesque hill station near
Pune in Maharashtra. It
defaulted on bank loans after
the environment ministry
issued a stop-work order to the
project in 2010. Since the out-
break of Covid-19, even the
weekend traffic in the town-
ship has dropped to zero.
Several people awaiting
possession of their house
have joined the NCLT pro-
ceedings and received a seat
on the committee of creditors.
Many others, who had
received keys to their houses,
have moved out. When the
lenders had first sought bids for
Lavasa, several companies had
put in bids, including a surprise
bid by food major Haldiram
Snacks. A few others like
Oberoi Realty and UV ARC also
submitted their bids.
The banks later decided to
seek bids for Lavasa as a con-
solidated entity. The debt res-
olution was further delayed
when, in June this year, State
Bank of India sought a fresh
forensic audit after it noticed
several inter-connected trans-
actions among Lavasa’s related
parties, and said individual
audits might not be able to pro-
vide a complete overview of the
company’s financials. These
BS SUDOKU # 3157
HOW TO PLAY
Fill in the grid so that every row,
every column and every 3x3 box
contains the digits 1 to 9
entities were providing captive
power to Lavasa, apart from
running basic transport, main-
taining and running the con-
vention centre, and running
retail operations on the prem-
ises of Lavasa Corporation. A
separate company was operat-
ing a luxury hotel.
Certain transactions, SBI
said, were so complicated that
it would be difficult for the CoC
to interpret the inter-linkages
based on individual audit
reports for each entity. SBI said
a fresh audit would be able to
capture such interlinkages
through a consolidated foren-
sic report for all entities. "The
entire transaction was too com-
plex and we decided to stay
away," said a bidder.
Another bidder said it
planned to invite other com-
panies to make a joint bid for
the entire consolidated entity.
FB India head...
It recently invested $5.7 billion
in Reliance Industries’ Jio Pla-
tforms and also backed edtech
company Unacademy. Last
year, it had invested in social
commerce startup Meesho.
“We have the opportunity
to fuel innovative models that
are coming out of India, (which)
invariably could go global,”
said Mohan. “The investment
(in Jio) is a sign of our commit-
ment to India, and the role that
digital will play in transforming
India's economy.”
Facebook-owned WhatsApp
has partnered with Reliance’s
e-commerce venture Jiomart
Easy:
««
Solution tomorrow
SOLUTION TO # 3156
to bring local kirana stores
online. Mohan said for a lot of
small businesses the digital
presence means a WhatsApp
number. There is a tremen-
dous opportunity to reduce
friction in the process and
make it easier for consumers to
order from within WhatsApp,
he added. Out of the over 2 bil-
lion people using WhatsApp
globally, about 400 million are
based in India.
“We're still waiting for reg-
ulatory approval on payments
on WhatsApp. We do believe
that, if we get the approval, it
can genuinely be a massive po-
sitive for the Indian economy.
Mohan also said recovery of
small businesses from the pan-
demic would be critical for the
Indian economy, and “we want
to do everything we can to
help.” As part of its $100 million
global grant for small busi-
nesses announced early this
year, the firm on Tuesday ann-
ounced $4.3 million for more
than 3,000 small businesses
across Delhi, Gurgaon, Mumbai,
Hyderabad, and Bengaluru,
where Facebook has offices.
August exports...
Consumer products such as
textiles, gems and jewellery,
and electronic goods, among
other items, continued to show
contraction, at almost similar
levels. Gems and jewellery
exports fell by 43.2 per cent,
even as the pace of contraction
is on the decline from 50 per
cent in June. Apparel exports
saw a 14 per cent drop in
August, down from a 35 per
cent fall in June.
“Despite the pandemic,
Indian exporters have started
receiving a lot of enquiries and
orders from across the globe,
helping many sectors to show
improved export performance,
which is likely to get better in
the next few months. However,
exporters, particularly from the
MSME sector, are facing huge
liquidity challenges due to the
stoppage of MEIS benefits of
over ~10,000 crore from April
1, and IGST refund now.
Subsequently, many exporters
have expressed their inability
to honour orders," said Sharad
Kumar Saraf, president of the
Federation of Indian Export
Organisations (FIEO).
Aditi Nayar, principal econ-
omist, ICRA, said, “The recov-
ery in merchandise imports
lost steam in August, with only
a mild narrowing in the pace of
contraction to 26 per cent from
28.4 per cent in July, which
benefited from the spike in
gold imports. Moreover, the de-
growth in both headline and
non-oil merchandise exports
worsened in August, a relapse
of the healthy recovery
recorded since May, serving as
a reminder of the likely hiccups
ahead before the economy nor-
malises from the impact of the
ongoing crisis."
ICRA expects a substantial
current account surplus of $7-
10 billion in Q2 FY21. This is
corroborated by added figures
from the services sector as well.
According to the Reserve Bank
of India's figures, services
exports in July stood at $17.03
billion, witnessing a 10 per cent
fall, whereas imports stood at
$10.05 billion, a fall of nearly 22
per cent. In August, major
imports such as crude oil, engi-
neering goods, coal and
machinery continued to drop.
Oil imports reduced by 41.6, up
from 32 per cent. Non-oil, non-
gold imports declined by 29.6
per cent in the latest month.
Delhi Metro...
It was because they were earlier
relying on either buses or ride-
hailing aggregators, besides
private modes of transport. The
total ridership stood at 249,884
on Monday evening — this was
the first working day after all
lines became operational.
Besides Delhi Metro, other
privately run Metro networks,
including Hyderabad Metro,
also started functioning from
September 7. It started with
19,000 passengers on the first
day and gradually increased to
31,000 on the third day.
Monday’s ridership for
Hyderabad Metro was around
45,000, according to sources.
DMRC made losses to the
tune of ~1,690 crore during the
169-day period it was closed,
thereby forcing the Centre-
state public sector company to
resort to stringent cost-cutting
measures, including freezing
staff allowances.
More on business-standard.com
BusinessStandardNEW DELHI | W E D N E S D A Y 16 SEPTEMBER 2020 13
E.S.HUTD
JAMSHRI REALTY LIMITED
W.S. INDUSTRIES (INDIA) LIMITED
INTERNATIONAL LTD. (FORMERLY KNOWN AS THE JAMSHRI RANJITSINGHJI SPG. & WVG. MILLS CO. LTD.)
CIN: L17111PN1907PLC000258
Regd. Office: Fatehchand Damani Nagar, Station Road, Solapur - 413 001. CIN:L29142TN1961PLC004568
R e g d . O f f i c e : G . S . E s t a t e , G . T . R o a d , L u d h i a n a - 1 4 1 0 1 0 P h . 0161-2511001-05 (5 L i n e s ) , F a x : 0 1 6 1 - 2 5 1 0 8 8 5 Tel. No. 01 22 43152400, Website: www.jamshrimills.com, EMAIL: jammill1907@gmail.com Registered Office: 108, Mount Poonamallee Road, Porur, Chennai - 600 116
C I N No.: L 3 4 3 0 0 P B 1 9 7 3 P L C 0 0 3 3 0 1 w w w . g s g r o u p i n d i a . c o m , E - m a i l : - i n f b @ g s g r o u p i n d i a . c o m EXTRACT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.0&2020
(7 in Lakhs) STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS (IND AS) FOR THE QUARTER ENDED
Extract of Un-Audited Financial Results for the Quarter ended 30th June, 2020 SR Quarter End id 30TH J U N E 2020
40 Particulars 30.06.2020 31.03.2020 30.06.2019
(7 In Lacs) (Unaudited) (Audited) (Unaudited! (under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015) l ? l n Lakhs
1 Total Income from ODerations 20.67 84.32 15.82
SI. Particulars Quarter Ended Year Ended CONSOLIDATED
2 Profit/ (Loss) fbr the period from continuing
No. Un-Audited Audited Un-Audited Audited operations before Tax and Exceptional items (72.99) (35.16) (39.51) Quarter Ended 12 Months Ended Quarter Ended
Particulars
30/06/2020 31/03/2020 30/06/2019 31/03/2020 3 Net Profit/ (Loss) tor the period from continuing 30th June 2020 31st March 2020 30th June 2019
operations after tax and Exceptional items (72.99) (120.19) (64.69)
1 Total Income from operations (Net) 543.20 1630.38 3390.42 8481.49 4 Profit1 (Loss) for the period from discontinued Unaudited Audited Unaudited
operations before Tax (24.00) (8.19) (54.21)
2 Net Piofit/(Loss) fbr the period/year (before tax, exceptional (102.62) (5.63) 4.17 (347.49) 5 Net Profit/ (Loss) tor the period from discontinuing Total income from operations (net) 20.79
and/or Extraordinary items) operations after tax (24.00) (8.19) (54.21) Net Profit /(Loss) for the period (before Tex, Exceptional/
6 Total Comprehensive income fbr the period
3 Net Profit/(Loss) fbr the period/year before tax (after Exceptional (102.62) (5.63) 4.17 (347.49) [Comprising Profit/ (Loss) tor the period (after tax)
Extraordinary items) (11.85)** (511.78) (274.36)
and Other ComDrehensive Income (after taxtl (96.99) (128.38) (118.90) Net Profit / (Loss) for the period (before Tax, after Exceptional/
and/or Extraordinary items) 7 Equity Share Capital 698.65 698.65 698.65 Extraordinary items) (80.79)**@ (6076.26) (426.98)
4 Net Piofit/(Loss) for the period /year after Tax (after exceptional (91.22) 42.44 3.39 (264.71) 8 Earnings Per Share of Rs. 1000/- each
(Previous quarter June 2018 Rs. 10/-each) Net Profit / (Loss) for the period (after Tax, after Exceptional/
and/or Extraordinary items) (for continuing and discontinued operations) 1000/- 1000/- 1000/- Extraordinary items) (80.79)**@ (6076.26) (426.98)
Continued operations
5 Total Comprehensive Income for the period/year [Comprising Total Comprehensive income for the period {Profit/(Loss) for the
Basic & Diluted Earning Per Share (104.47) (172.03) (92.60)
Discontinued operations period (after Tax) and other Comprehensive income (after Tax)} (80.79|**@ (6076.26) (412.91)
Profit/(Loss) for the period /year (after tax) and other
Basic & Diluted Earning Per Share (34.35) (11.73) (77.59) Equity Share Capital 2626.06 2626.06 2626.06
Comprehensive Income (aftertax) NOTES: Reservesfexcluding Revaluation Reserve) as shown in the audited
6 Equity Share Capital (Face Value Rs. 51- Each, fully paid up) 725.73 725.73 725.73 725.73 a) The above unaudited financial results has been reviewed by the Audit Committee approved by the (14013.06)
Balance Sheet of the Previous year
Board or Directors at its meeting held on September 14,2020.
7 Reserves (excluding Revaluation Reserves) - - - 2236.63 b) The above results have been prepared in accordance with the Indian Accounting Standards (IND AS) Earnings Per Share (for continuing and discontinuing operations)
as notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 read ( o f * 10/- each)
8 Earning Per Share (fbr continuing and discontinued operations) with of the Companies (Indian Accounting Standards) Rules, 2015 as amended and other relevant
previsions of theAct. a) Basic (0.70) (23.54) (1.69)
(Face Value Rs. 51- each) (Not Annualised) c) The above is an extract of the detailed format of Financial Results tor the quarter end 30 June 2020 b) Diluted (0.70) (23.54) (1.69)
filed with BSE. The full format is availaible on the website of BSE www.bseindia.com and on the
(i) Basic & Diluted EPS before Extraordinary items. (Rs.) (0.63) 0.30 0.02 (1.82)
Company's website at www.jamshrimills.com.
1. The above is an extract of the detailed format of Quarter ended 30th June 2020 unaudited consolidated financial results filed
(ii) Basic & Diluted EPS after Extraordinary items. (Rs.) (0.63) 0.30 0.02 (1.82) For JAMSHRI REALTY LIMITED
sd/- with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
Notes: 1. The above un-audited financial results for the quarter ended June 30,2020, as reviewed by the Audit Committee of the Board, were PLACE: MUMBAI P. R. DAMANI 2015. The full format of the unaudited consolidated financial results for the quarter ended 30th June 2020 are available on the
approved and taken on record by the Board of Directors at their meeting held on September 15,2020. The statutory auditors of the Company have DATE :14th SEPTEMBER 2020 MANAGING DIRECTOR
Stock Exchange W e b s i t e s , ( w w w . n s e i n d i a . c o m and w w w . b s e i n d i a . c o m ) and on the Company's w e b s i t e
carried out the limited review of the results.
2. On account of COVID-19 pandemic and nationwide lockdown by Government of India, the company's operations shutdown temporary in the (www.wsindustries.in/KYC)
currentquarter and company operated partly during relaxations by Govt of India. The performance of the company adversely affectedforthe quarter 2. The Unaudited Consolidated financial results for the Quarter ended 30th June 2020 have been prepared in accordance with the
ended June 30,2020 in line with commercial vehicle segment and not comparable with those of the previous quarters. Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 (the
3. The Company is operating in One Segment viz "Auto Components".
Act) and guidelines under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended.
4. Previous period's/years figures have been regrouped & reclassified, wheieverfound necessary.
For G.S. Auto International Limited F O R J l f l C 3. The above results were reviewed by the Audit Committee, approved and taken on record by the Board at its meeting held on
Sd /- 15th Sept.2020. The Statutory Auditors have canried out a Limited Review of the aforesaid results in terms of Regulation 33 of SEBI
(Harkirat Singh Ryait) Under Regulation 36A (1) of the Insolvency and Bankruptcy (Listing Obligations and Disclosure Requirements) Regulation, 2015.
Place : Ludhiana (Director) (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 4. No production and related activities were carried out in the Holding Company during the period.
Date : 15.09.2020 DIN No.:07275740 RELEVANT PARTICULARS 5. * * N o Interest has been provided in the Holding Company on the facilities availed from financial institutions during the period
1. NAME OF THE CORPORATE DEBTOR M/s. SASI POWER PRIVATE LIMITED under review.
2. Date of incorporation of Corporate Debtor 31.08.1999 6. The Holding Company has identified its Chennai and Vizag Unit under Ind AS 105 and accordingly adjustments are shown

Imagicaaworld Entertainment Limited
(formerly known asAdlabs Entertainment
CIN:L92490MH2010PLC199925
Registered Office: 30/31, Sangdewadi, Khopoli-Pali Road.Taluka- Khalapur,
District- Ftaigad, Pin- 410 203
Website: www.imaqicaaworld.com. Email: compliancel5iimaaicaaworld.com
EXTRACT OF CONSOLIDATED UN-AUDITED FINANCIAL
3. Authority under which corporate debtor is Registrar of Companies-New Delhi
incorporated / registered
separately in the statement of profit and loss. Hence previous period figures are not comparable.
7. The Holding Company has partially complied with the terms of the settlement agreements executed with the secured lenders
Limited) 4. Corporate identity number / limited liability U40101DL1999PTC101362
as highlighted in the annual report for the financial year ending 31st March 2019 but the holding company has been unable to
identification number of corporate debtor
complete the full and final settlement due in February 2019. Pursuant to the same, the Holding Company has received latest claim
5. Address of the registered office and Registered Office: A-60, Okhla Industrial
letter in Jan 2020 claiming repayment of contractual dues as follows:
principal office (if any) of corporate debtor Area, Phase-ll, New Delhi-110020
(i) ? 427.41 cr„ from Edelweiss Asset Reconstruction Company Limited (in its capacity as Trustee of EARC SAF1 Trust, EARC
6. Insolvency commencement date of the 29.01.2020 (order received on 31.01.2020)
corporate debtor Trust SC168, EARC Trust SC 209) as on Dec. 31,2019,
7. Date of invitation of expression of interest 16.09.2020 (ii) ? 84.09 cr., from IDBI Trusteeship Service Limited (as a debenture trustee on behalf of debenture holders) as on Dec. 31,2019

RESULTS FOR THE QUARTER ENDED J U N E 3 0 , 2 0 2 0 8. Eligibility tor resolution applicants under Information can be sought by sending an
section 25(2)(h) of the Code is available at: E-mail on cirpsasipower@gmail.com (iii) ? 133.67 cr„ from Allium Finance Private Limited as on Dec 31,2019.
(Rs. in Lakhs except EPS Data) 9. Norms of ineligibility applicable under Information can be sought by sending an The claim amounts include interest upto the said period and other charges as provided for under the respective financing
CONSOLIDATED section 29A are available at: E-mail on cirpsasipower@gmail.com documents entered into by the Holding Company. The Holding Company is in discussions with the secured lenders for its
SR. For the quarter For the Year Corresponding 10 Last date fbr receipt of expression of interest 25.09.2020 resolution.
No. Particulars ended ended quarter ended 11. Date of issue of provisional list of 26.09.2020 8. @ As required under Ind AS 36 Impairment amounting to f 4542.98 Lakhs has been provided for the Quarter ended 30th June
30.06.2020 31.03.2020 30.06.2019 prospective resolution applicants
2020 in the books of Vizag Insulator Division of the Holding Company (considered as discontinued operations w.e.f. 01.10.2019)
(Un-audited) (Audited) (Un-audited) 12 Last datetorsubmission of objections to 28.09.2020 with reference to Land on unexpired Lease period (as on 30th Jun. 2020), Buildings on Card Rate and other fixed assets on the
provisional list
1 Total Income from operations 9.44 20,005.58 8,100.40 respective WDV basis. The provision made in the earlier Quarter ended 31 st March 2020 amounting to * 4570.01 Lakhs stands
13 Date of issue offinallist of prospective 29.09.2020
2 Net Profit / (loss) for the period (before Tax, Exceptional resolution applicants reversed.
and/or Extraordinary items) (7,876.47) (39,742.76) (3,247.84) 14 Date of issue of information memorandum, 30.09.2020 9. The Consolidated financial statements relate to W.S. Industries (India) Limited (the Parent Company), and its Subsidiary
3 Net Profit / (loss) for the period before Tax (after evaluation matrix and request for resolution
Companies. The Parent Company with its subsidiaries constitute the Group.
planstoprospective resolution applicants
Exceptional and/or Extraordinary items) (7,876.47) (39,742.76) (3,247.84) 10. The Subsidiary Companies considered in the consolidated financial statements are Vidagara Tech Park Private Limited and WS
15 Manner of obtaining request fbr resolution Shall be shared in electronic formtoall the Prospective
4 Net Profit / (loss) for the period after Tax (after plan, evaluation matrix, information Insulators Private Limited. Country of incorporation is India and the percentage of voting power by W.S. Industries (India) limited is
Resolution Applicants (PRA) eligible to receive the
Exceptional and/or Extraordinary items) (7,876.47) (39,742.76) (3,247.84) memorandum and further information same under regulation 36B(1) of Insolvency and 100% and 100% respectively as an 30th June 2020.
5 Total Comprehensive Income for the period [Comprising Bankruptcy Boairi of India (Insolvency Regulation 11. The Group is not required to provide Segment Reporting under the criteria specified in IND AS 108.
Profit / (Loss) for the period (after tax) and other ProcesstorCorporate Persons) Regulations, 2016.
12. The prolonged lockdown and restriction of activities due to Covid-19 does not have any significant impact in the Holding
Comprehensive Income (after tax) (7,833.91) (39,775.76) (3,249.19) 16. Last datetorsubmission of resolution plans 20.10.2020
Company's overall performance during the period under review, but has impacted the functioning with shutdown of office. Due to
6 Equity Share Capital 8,806.21 8,806.21 8,806.21 17. Manner of submitting resolution plans to By electronic means and by post or by hand delivery in
this, the efforts of the Holding Company on the resolution plan is getting delayed. The Holding Company will be able to get a better
resolution professional sealed envelope to the address of Resolution
7 Reserves (excluding revaluation reserves as shown in the clarity only after the lockdown is fully lifted and reasonable normalcy is restored. Regarding the subsidiaries, the effects of Covid-
balance sheet of previous year) . (43,931.40) _ Professional i.e. K-37/A, Basement, Kailash Colony,
19 pandemic does not have any significant impact on their respective operations and compliances, during the period under review.
New Delhi-110048followed by an email confirmation.
8 Earning per share (of Rs. 10 each)
18. Estimated date for submission of resolution As soon as approved by the CoC. 13. Figures have been regrouped/reclassified wherever necessary, to conform to current period's classifications.
(fbr continuing and discontinued operations) -
plantotheAdjudicatingAuthorityfbr approval
Basic: (8.94) (45.13) (3.69) Chennai for W.S. Industries (India) Limited
19. Name and registration number of the Pankaj Khaitan 15th September, 2020 Director
Diluted: (8.94) (45.13) (3.69) resolution professional Reg. No.: IBB l/l PA-002/IP-N00010/2016-17/10014
20. Name, Address and e-mail of the resolution Pankaj Khetan, Insolvency Professional
(Rs. in Lakhs except EPS Data
professional, as registered with the Board Add: H-38, LGF, Near Eros Cinema, Jangpura
STANDALONE Extension, New Delhi-110014
SR. For the quarter For the Year Corresponding Email: pankaj.khetan@gmail.com
No. Particulars ended ended quarter ended 21. Address and emailtobe used tor Pankaj Khaitan
30.06.2020 31.03.2020 30.06.2019 correspondence with the resolution K-37/A, Basement, Kailash Colony, New Delhi-110048
professional Email: cirpsasipower@gmail.com
(Un-audited) (Audited) (Un-audited)
22. Further Details are available atorwith The details can be sought by sending e-mail at
1 Total Income from operations 9.44 20,005.58 8,100.40
cirpsasipower@gmail.com
2 Net Profit / (loss) for the period before Tax
23. Date of publication of Form G 16.09.2020
(after Exceptional and/or Extraordinary items) (7,872.47) (40,403.57) (3,237.16)
Sd 1-
3 Net Profit / (loss) fbr the period after Tax PankaJ Khaltan

Vipul Limited
(after Exceptional and/or Extraordinary items) (7,872.47) (40,403.57) (3,237.16) Resolution Professional

•
(In the matter of M/s Sasi Power Private Limited (under CIRP)
Notes: IP Registration No.: IBBI/IPA-002/IP-N00010/2016-17/10014
a) The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at Registered Add.: H-38, LGF, Jangpura Extension, Near Eros Complex, New Delhi-110014.
their respective meetings held on September 14, 2020 as per Regulation 33 of SEBI (Listing Obligations and Disclosure Correspondence Add: K-37/A, Basement, Kailash Colony, New Delhi-110048.
Mob le No :
Requirements) Regulations, 2015. Date: 16/09/2020 ' - 9999883792 & 9310201908 Regd. Office: Unit No. 201, C-50, Malviya Nagar, New Delhi -110017
Place: New Delhi E-mail: drpsasipower@gmail.com, pankaj.khetan@yahoo.com
b) The above is an extract of the detailed format of Un-audited Financial Results (Consolidated and Standalone) filed with the Corp. Office: Vipul TechSquare, Golf Course Road, Sector-43, Gurugram-122009
Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Vipul CIN No.: L65923DL2002PLC167607, Phone No.: 0124-4065500, Website: www.vipulgroup.in
full format of the Quarterly Un-audited (Consolidated and Standalone) Financial Results are available on the Stock Exchange Unaudited Standalone Financial Results for the quarter ended June 30, 2020
websites, www.nseindia.com and www.bseindia.com and on the Company's website www.imaqicaaworld.com
| (Rs. In Lakhs except per share Earnings per share) |
c) The figures for the previous periods have been regrouped/rearranged wherever necessary to confirm current period's
FORTHE
classification. SI. FOR THE QUARTER ENDED YEAR ENDED
PARTICULARS
For and on behalf of the Board of Directors No. 30.06.2020 31.03.2020 30.06.2019 31.03.2020
Sd/- Unaudited Audited Unaudited Audited
Place: Mumbai Manmohan Shetty
1. Total Income from operations 299.44 2,461.67 4,584.65 18,543.47
Date : September 14,2020 Chairman

Adfactors 305
VA TECH WABAG LIMITED 2. Net Profit/(Loss) for the period (before Tax, Exceptional and/
or Extraordinary items) (1,029.91) (2,656.48) 54.60 (3,107.59)
CIN: L45205TN1995PLC030231
Regd. office: "WABAG HOUSE" No.17,200 Feet 3. Net Profit/(Loss) for the period before Tax ( after Exceptional
Thoraipakkam- Pallavaram Main Road, (1,029.91) (2,656.48) 54.60 (3,107.59)
KESORAM TEXTILE MILLS LIMITED Sunnambu Kolathur, Chennai 600117, Tamil Nadu, India
and/or Extraordinary items)
CIN: L17114WB1999PLC089148 sustainable solutions fbr a better life 4. Net Profit/(Loss) for the period after Tax ( after Exceptional
Tel: +9144 6123 23231 Fax: +9144 6123 2324 (795.10) (2,024.84) (188.76) (2,743.01)
Registered Office: 42, Garden Reach Road, Kolkata - 7 0 0 0 2 4 Website: www.wabaq.com | email: comnanysecretary@wabaq.il and/or Extraordinary items)
a» aiamsHflupgf c
c
m p
a
m e
s
City Office: 9/1 R . N . M u k h e r j e e Road, Kolkata - 7 0 0 0 0 1 5. Equity Share Capital 1,199.84 1,199.84 1,199.84 1,199.84
P h o n e : 0 3 3 2 4 6 9 - 7 8 2 5 / 6 7 B 8 / 2 4 8 9 3 4 7 2 Fax: 0 3 3 2 4 6 9 6 7 8 8 EXTRACT OF STATEMENT OF CONSOLIDATED FINANCIAL
Email: k t m l t e x t @ g m a i l . c o m ; W e b s i t e : w w w . k e s o r a m l e x t i l e s . c o m 6. Total Comprehensive Income for the period (Comprising
RESULTS (UNAUDITED) FOR THE QUARTER ENDED JUNE 30, 2020 Profit / (Loss) for the period (after tax) and other Comprehensive (795.10) (2,057.77) (188.76) (2,775.93)
E x t r a c t of U n a u d i t e d F i n a n c i a l R e s u l t s l o r t h e q u a r t e r e n d e d 3 0 t h J u n e 2 0 2 0 Income (after tax)
(Rs. In Lakhs)
(Tin Lakh) 7. Earnings per share (of Rs. 1/- each) (for continuing and
Year
Quarter Ended discounted operations) (in Rs)
Current Preceding Corresponding Previous
Ended
three months three months three months year ended - Basic (0.66) (1.69) (0.16) (2.29)
SI. ended ended ended in the 31-03-2020 Particulars 30.06.2020 30.06.2019 31.03.2020 - Diluted (0.66) (1.69) (0.16) (2.29)
No. Particulars 30-06-2020 31-03-2020 previous year
30-06-2019 Unaudited Unaudited Audited 1 1
Unaudited Consolidated Financial Results for the quarter ended June 30, 2020
(Unaudited) (Audited) (Unaudited) (Audited)
Total income from operations (net) 43,217 45,771 2,59,232 I (Rs. In Lakhs except per share Earnings per share)
Total I n c o m e f r o m O p e r a t i o n s FOR THE
Net Profit / (Loss) for the period ( b e f o r e tax, SI. FOR THE QUARTER ENDED
PARTICULARS YEAR ENDED
Net Profit / (Loss) for t h e period Exceptional and/or Extraordinary items) 734 918 13,249 No.
30.06.2020 31.03.2020 30.06.2019 31.03.2020
( b e f o r e Tax a n d E x c e p t i o n a l items) 2.55 68.84 0.89 363.64 Net Profit / (Loss) for the period before tax
Unaudited Audited Unaudited Audited
(after Exceptional and/or Extraordinary items) 734 918 13,249
Net Profit / (Loss) for t h e p e r i o d 17 Total Income from operations 344.57 2,642.14 5,631.71 20,106.56
Net Profit / (Loss) for the period after tax
b e f o r e tax (after E x c e p t i o n a l items) 2.55 68.84 0.89 363.64 (after Exceptional and/or Extraordinary items) 504 64 8,393 2. Net Profit/(Loss) for the period (before Tax, Exceptional
and/or Extraordinary items) (1,169.06) (2,720.02) (159.22) (3,798.89)
Net Profit / (Loss) for t h e p e r i o d Net Profit / (Loss) after taxes, minority interest
and share of profit / (Loss) of associates 511 262 9,096 Net Profit/(Loss) for the period before Tax ( after Exceptional
after tax (after E x c e p t i o n a l items) 2.55 68.84 0.89 363.64 (1,169.06) (2,720.02) (159.22) (3,798.89)
and/or Extraordinary items)
Total Comprehensive Income for the period
Total C o m p r e h e n s i v e I n c o m e for t h e [Comprising Profit / (Loss) for the period (after tax) 1,057 70 8,837 17 Net Profit/(Loss) for the period after Tax ( after Exceptional (934.25) (2,197.90) (353.71) (3,434.66)
p e r i o d [ C o m p r i s i n g Profit / (Loss) for and Other Comprehensive Income (after tax)] and/or Extraordinary items)

t h e p e r i o d (after tax) a n d O t h e r Equity Share Capital 1,094 1,094 1,094

17 Equity Share Capital 1,199.84 1,199.84 1,199.84 1,199.84
Earnings Per Share (of Rs. 21- each) (for continuing and discontinued operations) (in INR) Total Comprehensive Income for the period (Comprising
C o m p r e h e n s i v e I n c o m e (after tax)] 6.02 33.33 17.35 377.51 6.
1. Basic 0.93 0.48 16.64 Profit / (Loss) for the period (after tax) and other Comprehensive (934.25) (2,231.23) (353.71) (3,467.99)
Equity Share Capital 1,045.64 1,045.64 1,045.64 1,045.64 Income (after tax)
2. Diluted 0.93 0.48 16.64
E a r n i n g s Per S h a r e (of ? 2/- e a c h )
17 Earnings per share (of Rs. 1/- each)
(for continuing and discounted operations)
T h e a b o v e is a n extract of the detailed format of Quarterly Financial Results filed with the
1. B a s i c : (?) 0.00* 0.13 0.00* 0.70
Stock E x c h a n g e s under Regulation 3 3 of the S E B I (Listing Obligations a n d Disclosure - Basic (0.78) (1.83) (0.29) (2.86)
2 . D i l u t e d : (?) O.OO* 0.13 0.00* 0.70 R e q u i r e m e n t s ) Regulations, 2 0 1 5 . T h e lull format of t h e Quarterly Financial Results a r e
- Diluted (0.78) (0.29) (2.86)
(1.83)
available o n t h e Stock E x c h a n g e websites w w w . n s e i n d i a . c o m a n d www.bseindia.com a n d
* F i g u r e is b e l o w t h e r o u n d i n g o f f n o r m a d o p t e d b y t h e C o m p a n y . also o n the company's website w w w . w a b a q . c o m . Note: The above are extracts of the detailed format of standalone and consolidated un-audited for the quarter ended June
T h e a b o v e results w e r e reviewed by the Audit C o m m i t t e e on S e p t e m b e r 1 5 , 2 0 2 0 a n d w e r e 30, 2020,filed with BSE Ltd. and National Stock Exchange of India Ltd., under Regulation 33 of the SEBI (Listing Obligations
Notes: a p p r o v e d a n d t a k e n on record by the Board at its meeting held during the s a m e d a y a n d a
and Disclosure Requirements) Regulations, 2015 ("Listing Regulations'). The full format of the standalone and consolidated
limited review h a s b e e n carried out by the Statutory Auditors o f t h e C o m p a n y .
a) T h e a b o v e is a n e x t r a c t o f t h e d e t a i l e d f o r m a t o f Financial Results for the quarter e n d e d T h e details of turnover, profitbefbretaxand profit aftertax on a standalone basis are given below: un-audited for the quarter ended June 30, 2020 is available on the websites of the stock exchanges i.e. www.bseindia.com
and www.nseindia.com and on the Company's website i.e. www.vipulgroup.in.
30th June, 2 0 2 0 filed with S t o c k E x c h a n g e u n d e r Regulation 33 of the SEBI (Listing
Quarter Ended Year Ended The above standalone and consolidated un-audited for the quarter ended June 30, 2020 is reviewed by the Audit Committee
obligations and Disclosure Requirements) R e g u l a t i o n s , 2 0 1 5 . T h e full f o r m a t of t h e
30.06.2020 30.06.2019 31.03.2020 and on the recommendations have been approved by the Board of Directors at their respective meetings held on September
F i n a n c i a l R e s u l t s f o r t h e q u a r t e r e n d e d 3 0 t h J u n e , 2 0 2 0 is a v a i l a b l e o n C a l c u t t a Stock Particulars 15, 2020. Further in accordance with the requirements of Regulation 33 of the Listing Regulations with the stock exchanges,
Unaudited Unaudited Audited
Exchange website (www.cse-india.com) and on the Company's website at the statutory auditor have carried out limited review for standalone and consolidated un-audited for the quarter ended June
Turnover 28,166 32,398 1,74,632
w w w . k e s o ramtextil es. c o m . 30, 2020 and the limited review report has been approved by the Board.
Profit / (Loss) Before Tax 546 2,715 9,778 These results will be made available on the Company's website viz www.vipulgroup.in and websites of BSE Limited and
b) T h e a b o v e results have been reviewed by the Audit C o m m i t t e e a n d a p p r o v e d b y the
National Stock Exchange of India Limited viz, www.bseindia.com and www.nseindia.com.
Profit / (Loss) After Tax 408 1,990 5,876
B o a r d o f D i r e c t o r s of t h e C o m p a n y at t h e i r m e e t i n g s h e l d o n 1 5 t h S e p t e m b e r , 2020.
For and on behalf of the Board
For K e s o r a m Textile Mills Limited For V A T E C H W A B A G LIMITED Vipul Limited
Sd/-
Sd/-
R A J I V MITTAL Punit Beriwala
Place: Kolkata Jayant Sogani MANAGING DIRECTOR & GROUP CEO
Place: Chennai Date: September 15, 2020 Managing Director &
Dated: 15.09.2020 (Chairman) Date : 15.09.2020 DIN : 01299110 Place: Gurugram Cheif Executive Officer
Business Standard
NEW DELHI | W E D N E S D A Y 16 S E P T E M B E R 2020 14

Himachal Pradesh
O F F I C E OF THE EXECUTIVE E N G I N E E R
Jal Shakti Vibhag
PUBLIC NOTICE
JAL SHAKTI (PHE) DEPARTMENT, DIVISION PULWAMA email: xenphepulwama@gmail.com i ^ X * To b e k n o w n t o all t h a t I, S u b h a s h C h a n d r a S / o Late S h . P r e m C h a n d r a
Notice Inviting e-Tender NOTICE INVITING TENDER
G u p t a , Director of M/s Tirupati Balaji M e d i a N e t w o r k i n g (P) Ltd t h a t I h a v e
lost all D D A d o c u m e n t s v i d e F I R / N C R / L R n o . 4 5 5 0 4 / 2 0 2 0 Dt.
E-NITS. No. 31/PHEP of 2020-21 On line bids on item rates basis are invited by the Executive Engineer, Jal Shakti Division, Fatehpur Himachal Pradesh on 3 1 / 0 7 / 2 0 2 0 , n o w w e h a v e f o u n d all D D A p a p e r s regarding this property
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 Three Year- behalf of Governor of Himachal Pradesh, in electronic tendering system in two covers for the under mentioned work from the No. 9 4 8 M e a s u r i n g 5 0 S q . Mtr. situated a t I F C Gazipur, Delhi a n d w e h a v e
swhichincludes 12 months of DLPare invited from Reputed and resourceful contractors/ Firms/Companies/Joint Venture of repute in PWD or Equivalent in contractors/firms of appropriate class enlisted with Jal Shakti Vibhag through e-tendering process:- those with me.
CPWD/ Railways and other state Governments for the following works, which should be uploaded on the Procurement web portal http://jktenders.gov.infor
T h a t I h a v e lost m y original d o c u m e n t s i.e. G e n e r a l P o w e r o f A t t o r n e y &
the subjected work(s) referred below to be received by the Executive Engineer Jal Shakti (PHE) Department, Division Pulwamaand as per the details men- Estimated Earnest Time Cost of
a g r e e m e n t t o sell regarding this property.
tioned 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. SN Name of work of cost Money form
A n y person(s) c l a i m i n g a n y right, interest, h a v i n g a n y o b j e c t i o n o r f o u n d in
The detailed tender document and Specifications etc. can be downloaded on the e-procurement portal http://jktenders.gov.in. (in Rs.) (in Rs.) (in Rs.)
p o s s e s s i o n o f original d o c u m e n t s , m a y w r i t e / c o n t a c t w i t h a b o v e n a m e d
The cost of tender documents (Non-refundable/Non-Transferable) should bein the shape of e-Challan or Treasury Challan/Receipt in favour Executive P Providing functional house hold tap connections in village Patta Jatian, Jhumb p e r s o n a t a d d r e s s / P h o n e No. 9 8 9 9 6 4 6 8 7 3 within 1 5 D a y s f r o m the d a t e
Engineer Jal Shakti (PHE) Department, Division Pulwama.
Khas, Takoli etc through proposed LWSS Patta Jatina in Tehsil Fatehpur District 1,02,47,786/- 1,34,980/-/- Nine 1600/- of publication o f this notice. T h e p e r s o n c l a i m i n g a n y right, interest,
Name of Work Estimated Cost EMD Cost of Time of Class of Kangra HP(SH: Construction of Pump House, Collection Tank of 95000 ltr. Cap at Month objection w i t h respect t o this property, c a n personally i n f o r m m e .
( in lacs) (in ) TD (in ) completion Contract
Node No. 2. Over Head S/Tank 120000 Ltr. Cap 15 mtr. Stagging Ht. At Node No. 3
Retrofitting of Water Supply Scheme BonrakhZahidbagh by way of providing, laying and
Over Head S/Tank 60000 ltr. Cap 15 Mtr. Staggging Ht. at Node No. 4 (PH-I) & Over
fitting of GI pipes, construction of allied works including electrical/ mechanical works 1600 60 days
Head S/Tank of 110000 Ltr. Cap 15 mtr. Stagging Ht. at Node No. 3 Over Head
including installation of 140 No. FHTCs for BonrakhZahidbagh
Retrofitting of Water Supply Scheme Wakherwan by way of providing, laying and fitting of 1600 60 days
S/tank of 50000 Ltr. Cap with 15 mtr. staging Ht. at Node No. 4 Over Head S/Tank of
GI pipes, including construction of chain link fencing around structures etc. including 40000 ltr. Cap with 15 mtr. staging Ht. at Node No. 32 (PH-II).
installation of 127 No. FHTCs for Wakherwan Pr Imp. and Ext. of various LWSS in Fatehpur area in Teshil Fatehpur (C/o LWSS
Retrofitting of Water Supply Scheme Tahab old by way of providing, laying and fitting of GI Broona Anoh Kohlari etc. Phase-II nd) (SH: supply and erection of Pumping 68,71,222/- 1,01,220/- Three 800/-
pipes, including dismantling of CCA Truss over RCC SR, providing RCC jacketing to Month REGD. AD. DASTI AFFIXATION BY BEAT OF DRUM, PUBLICATION
machinery and laying jointing testing of rising mains of 150 mm dia and 100 mm dia) OFFICE OF THE RECOVERY OFFICER-I
existing SR, construction of wooden trusses over existing quarter, providing sanitary fitting 60 days A&B
to washroom, construction of ring type soakage pit and septic tank, mechanical and Pr Providing functional house hold tap (FHTC) connection in village Fatehpur, DEBTS RECOVERY TRIBUNAL-III, DELHI, 4the Floor Jeevan tare Building,
electrical works including installation of 299 No. FHTCs for Tahab old Sunhara, Bhattian etc. through proposed LWSS Fatehpur Sunhara in Tehsil Parliament Street, New Delhi-110001
40,34,880/- 68,030/- 1 Year 800/- PROCLAMATION OF SALE
4 Retrofitting of Water Supply Scheme Bon Koil by way of providing, laying and fitting of GI Fatehpur District Kangra (HP) under Jal Jeevan Mission (SH: Construction of Pump
pipes, including electrical and mechanical works including installation of 132 No. FHTCs 46400 30 days B&C House, Boundary Wall and construction of collection Tank 50 KI capacity with 1 mtr. NOTICE UNDER RULES 52(2) OF THE SECOND SCHEDULE TO THE INCOME
for Bon Koil. TAX ACT, 1961 READ WITH SECTION 25(A) THE RECOVERY OF DEBTS DUE TO
staging height at N-2, Main Storage tank 170 KL capacity on ground at N-3, Sector
5 Retrofitting of Water Supply Scheme NicklooraChowdribagh by way of providing, laying 42960 800 30 days B&C Storage Tank 25 KL capacity with 6 mtr. staging height at N-4) BANKS & FINANCIAL INSTITUTIONS ACT, 1993.
and fitting of GI pipes, construction of toilet block including installation of 70 No. FHTCs RC No. 171/2019 Dated: 08/09/2020
for NicklooraChowdribagh
Last date of filing/uploading the tender through e-tendering is 18.09.2020 up to 11.00 AM. The tender forms and other detailed In the matter of:
Retrofitting of Water Supply Scheme NowharMalpora by way of providing, laying and fitting
terms and conditions can be obtained from the website www.hpiph.org _ .. _ . HDFC VS MR. MANOJ SHARMA
of GI pipes, including P/F of sanitary items, providing rolling shutters, septic tank, soakage 30 days B&C
Executive Engineer Mr. Manoj Sharma R/o. 17D, Green View apartment, 80 SFS, DDA Flats, Hari Nagar,
pit and desilting of structures, electrical/ mechanical works including installation of 76 No.
Jal Shakti Division, Fatehpur Delhi-110064. Also at: Power Club (GYM) C-4, Ajay Enclave, Subhash Nagar, Near
FHTCs for NowharMalpora.
3003/2020-2021 District Kangra HP 176053 Radha Swami Satsang Bhawan, Delhi-110027.
7 Retrofitting of Water Supply Scheme Hanji Khulla by way of providing, laying and fitting of 21940 600 30 days 3,C&D
GI pipes including installation of 41 No. FHTCs for Hanji Khulla. Whereas in execution of Recovery Certificates No. 171/2019 in OA No. 221/2018 dated
18/02/2019 ordered by the Hon'ble Presiding Officer, Debts Recovery Tribunal-Ill, Delhi,
Position of Funds: -Available; Major Head of Account: JalJeevan Mission (JJM)
tor recovery from Defendants, recoverable, And shereas the undersigned has ordered the
sale of the movable property mentioned in scheduled propertyforsatisfaction of the said
The Bidding documents consisting of eligibility criteria, specification, drawings, bill of quantities (B.O.Q) set of terms & conditions of contract and other de-
tails can be seen/ downloaded from the e-procurement Portal "http://jktenders.gov.in"as per schedule of dates given below: AXIS BANK Sale Notice for Sale Immovable Property Recovery Certificate. Notice is hereby given that in the absence of any order of
S. No. Description Date Time Retail Assets C e n t e r : 1st Floor, G 4 / 5 , B, Sector-4, Gorrvti Nagar Extension L u c k n o w - 2 2 6 0 1 0 postponement, the said property shall be sold by Shri Deepak Wadhwa, Authorized
DD MM YYYY Officer, Mobile No. 8650008686, who has been appointed as Court Auctioneer by this
Corporate Office : 3 r d Floor, Block-B, B o m b a y Dyeing Mills C o m p o u n d , P a n d u r a n g B u d h a k a r Marg, Worii, M u m b a i - 4 0 0 0 2 5
1 Publishing date of NIT 15 09 2020 900 Hrs Forum through e-Auction between 3.00 P.M. to 4.00 P.M. on 27/10/2020, e-audion and
Registered Office : Trishul', 3 r d floor, Opposite S a m a r t h e s h w a r Temple, L a w Garden, Ellisbridge, A h m e d a b a d - 3 8 0 0 0 6
2 Download start date 15 09 2020 900 Hrs bidding shall take place through on the website www.cartradexexchanqe.com.
3 Bid submission start date 15 09 2020 900 Hrs Sale Notice f o r Sale o f Immovable Assets under t h e Securitization a n d Reconstruction o f Financial Assets a n d For further details Shri Deepak Wadhwa, Authorized Officer of CH Bank can be contacted
4 Bid submission end date 05 10 2020 1600 Hrs. Enforcement of Security Interest A c t 2002 read with proviso t o Rule 8(6) of t h e Security Interest (Enforcement) Rule, 2002. on the aforesaid Mobile Number. The Sale will be of the movable property of the above
5 Bid opening date (Technical Cover) 06 10 2020 1000 Hrs. named applicant company, subject of the liabilities and claims attaching to the said
17.0 For any clarification the Bidders can contact divisional office or can email the Department at theemail:- xenphepulwama@gmail.com. Notice is hereby given to the public in general and in particular to the Borrowers) and Guarantors) that the below described property, if any. If the amountto be realized by sale is satisfied by the sale of a portion of the
18.0 Any item of work which is required for satisfactory completion of the scheme / individual activity shall be exclusively responsibility of the contractor and immovable property mortgaged/charged to the secured creditor. The Possession of which has been taken by the property, the sale shall be immediately stopped with respecttothe reminder. The sale will
no additional cost shall be paid to the contractor. also be stopped if, before any lot is knocked down, the arrears mentioned in the said
Authorised Officer of Secured Creditor will be sold on "As is where is", "As is what is" and "Whatever there is" on certificate, interest costs (including cost ofsale)aretenderedtotheofiicerconductionthe
19.0 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 preva-
lent stock rates at the time of tender for such material. We look forward to your active participation. 08.10.2020 at 11:00 am (Last date of submitting bid is 06.10.2020 till 05:00 pm) for recovery of Rs. 8,27,823.00 (due as sale or proof is given to his satisfaction that the amount of such certificate along with the
For and on behalf of the Lt. Governor UT of Jammu & Kashmir on 20.01.2018 along with further interest as applicable, incidental expenses, costs, charges etc incurred up to the date of interest and costs has been paid to the undersigned. At the sale the public generally are
Sd/- invited to bid either personally or by duly authorized agent. No officer or other person,
No: -PHEP/2648-61 Dated:-14-09-2020 actual payment and/or realization) due to the secured creditor from Mr. Abdul Samad Afzal (Borrower) & Mrs. Anwar
Executive Engineer, having any duty to perform in connection with this sale shall, however, either directly or
DIPK-5684/20 Fatma (Co-Borrower). The reserve price will be Rs.8,21,537.00 and the earnest money deposit will be Rs. 82,153.70. indirectly bid tor, acquire or attempt to acquire any interest in the property sold. The
(JSD) PHE Div, Pulwama,
property is being sold on "As is where is Basis". The sale shall be subjecttothe conditions
Location / Details of the Immovable Property and the plant and Encumbrances, if any
Account Number prescribed in the Second Scheduled to the Income-Tax Act, 1961 and the rules made
machinery (as applicable)/ Secured Assets possessed and put for sale known to the Bank there under and to the following further conditions:- The particulars specified in the
LPR028201685215 Situated at H.No. EWS.GA-28, Kabir Nagar Yojna, Rampur Road, NO annexed Schedule have been stated to the best of the information of the undersigned, but
the undersigned shall not be answerable tor any error, mis-statement or omission in this
Moradabad, Uttar Pradesh 244001 AdmeasuringArea-53.76Sq.mt.
proclamation.
Boundaries: East: H.No. EWS. GA-45, West: Road 5.40 MT Wide
KAPIL RAJ FINANCE LIMITED North: H.No. EWS. GA-29, South: H.No. EWS. GA-27
Hypothecated Vehicle "AUDI QS TDIQ" Engine No. CMG023335:
Chassis No. WAUZE8R6FY700200 and Registration No. UK07BJ3906.
L65929DL1985PLC022788 For detailed terms and conditions of the sale, please refer to the link provided in the secured creditor's website i.e. Reserved Prices: Rs. 15,75,000/- (Rupees Fifteen Lacs Seventy Five Thousand Only)-
23-B, First Floor, Chirag Delhi, Opposite Satrang Bhawan, New Delhi 110017 EMD Rs. 1,57,500 (Rupees One Lac Fifty Seven Thousand Five Hundred Only).
https://www.axisbank.com/auction-notices/
Email: Kapilrajfin@gmail.com Website: www.kapilrajfinanceltd.com 1)The amount by which the biddings are to be increased in multiple of Rs. 25,000/-. In the
Date : 16.09.2020 (Authorized Officer) event of any dispute arising astothe amount of bid, or as to the bidder, the lot shall at once
ANNEXURE1
Place: Lucknow AXIS BANK LTD. be again put to auction. 2) Intending bidders shall be requiredtodeposit an earnest money
Format for Newspaper Publishing Purpose (Standalone / Consolidated) as mentioned above for each byway of pay order/demand draft payable at New delhi and
[See Regulation 47(1) (b) of the SEBI (LODR) Regulations, 2015] (Re.In Lakht) in favour of Recovery Officer-ll, DRT-III, Delhi. The said deposit shall be adjusted in the
case of successful bidders and in the case of unsuccessful bidders; the same shall be
STANDALONE CONSOLIDATED
Particulars refunded without interest, on the date of sale. 3) Successful highest bidder shall have to
SI.
Quarter Year Quarter Quarter Year Quarter G o v e r n m e n t of U n i o n Territory J a m m u & K a s h m i r deposit 25% of the sale proceeds byway of pay order/demand draft favoring the Recovery
No.
Ending Ending Ending Ending Ending Ending OFFICE OF THE EXECUTIVE ENGINEER MECHANICAL HOSPITAL AND CENTRAL Officer-I, DRT-III, Delhi, Immediately at the toll of hammer, after adjusting the earnest
30th June, 31st March, 30th June, 30th Juie, 31st March, 30th Juie, deposit stated above, toiling which the earnest deposit shall be forfeited.
HEATING DIVISION SRINAGAR
2020 2020 2019 2020 2020 2019 4)The Purchaser shall deposit the balance 75% of the sale proceeds alongwith poundage
Telefax:- 0 1 9 4 - 2 4 9 6 0 8 9 , E m a i l ID:- x e n m h c h d k @ y a h o o . i n toe @ 2% upto Rupees 1,000/- @ 1 % of the sale price exceeding Rupees 1,000/- by 4:00
1. Total Income from Operations - - - - -
Gist of e-Tender pm on the next working day. The Poundage toes shall be deposited through a demand
2 Net Profit / (Loss)forthe period (before Tax,
NIT No: M H C H D / T S /2020-21/108/e-tendering draft payable in favor of the Registrar, DRT-III, Delhi. 5)ln the case of default, the amount
Exceptional and/or Extraordinary items#) 12.02 0.90 2.31 12.02 0.90 2.31 earlier deposited by the bidder, if the undersigned considers frit, after defraying the
Dated:-11.09.2020
a Net Profit / (Loss) for the period before tax expenses of the sale shall be fortfeited and the property shall be resold, and the defaulting
E - t e n d e r s a r e invited f r o m Original E q u i p m e n t M a n u f a c t u r e r s or their A u t h o r i z e d dealers/ R e p r e s e n t a t i v e s f o r t h e purchaser shall forfeit all claims to the property or to any part thereof or of any part of the
(after Exceptional and/or Extraordinary items#) 12.02 0.90 2.31 12.02 0.90 2.32
below mentioned work: sum tor which it may subsequently be sold. 6) The undersigned reserves the right to
4. Net Profit / (Loss) for the period aftertax
Name of work Est. C o s t Cost of Earnest Time of Position o f accept or reject any or all bids if found unreasonable or postpone the auction at any time
(after Exceptional and/or Extraordinary items#) 8.90 0.70 1.71 9.06 0.01 1.84 withoutassigninganyreason. _ . . .
( R s . in T/Doc. Money completion AAA/funds Schedule of Property
5 Total Comprehensive Income for the period
Lacs) (In r u p e e s ) (Lacs of Rs) (in d a y s ) Description of property Revenue
[Comprising Profit / (Loss) for the period Details of any Claims, if any, which
1 2 3 4 5 6 to be sold with names assessed en-cumbrances have been put forward
(after tax) - - - - - -
Supply, Installation, Testing , C o m m i s s i o n i n g o f A i r of co-owners where the upon the to which the to the property and
6 Equity Share Capital 14 14 514.00 514 514 514
Compressor o f Capacity 8 5 0 C F M , Screw type 50.00 1000 1.00 30 Available property belongs to the property or property is other known
7. Reserves (excluding Revaluation Reserve)
along with maintenance for Three years at Govt. defaulter and any other a n y part liable particulars bearing on
as shown in the Audited Balance Sheet of the person is co-owners thereof
S M H S Hospital, Srinagar. its nature and value.
previous year
Supply, Installation, Testing , C o m m i s s i o n i n g o f Hypothecated Vehicle
a Earnings Per Share "AUDI Q5 TDI Q"
Heatless Air Dryer o f 1000 C F M capacity , P L C 9.00 500 0.18 30 Available
(for continuing and discontinued operations) - Engine No. CMG023335
Based along with Maintenance for Three Years at
1. Basic: 017 0.01 0.03 0.18 0.00 0.04 Chassis No.
Govt. S M H S Hospital, Srinagar WAUZE8R6FY700200 NA N.A. N.A.
2 Diluted: 017 0.01 0.03 0.18 0.00 0.04 and Registration
1. Downloading of Bids:- T h e N I T C o n s i s t i n g o f q u a l i f y i n g i n f o r m a t i o n , e l i g i b i l i t y c r i t e r i a , s p e c i f i c a t i o n s , Bill o f
Nob No. UK07BJ3906.
quantities (B.O.Q), S e to f terms a n d conditions o f contract a n d other details can be seen from t h e departmental
a) The above is an extract of the detailed format of Quarterly Unaudited Consolidated and Standalone Financial Results filed with Given under my hand and seal of this Tribunal at New Delhi on this 08th September,2020.
the Stock Exchanges underRegulation 33 of the SEBI (Listing and OtherDisclosure Requirements) Regulations, 2015. The full w e b s i t e w w w . j k t e n d e r s . g o v . i n f r o m 1 2 . 0 9 . 2 0 2 0 (18.00 hrs) a n d c a n b e d o w n l o a d e d f r o m 1 2 . 0 9 . 2 0 2 0 (18.00 hrs).
(Sandeep handa)
format of the Quarteriy/Annual Financial Results are available on the websites of the Stock Exchange^) i.e www.bseindia.oom 2. Uploading: T h e b i d d e r s s h a l l d e p o s i t t h e i r b i d s in e l e c t r o n i c f o r m a t o n t h e a b o v e w e b s i t e 1 3 . 0 9 . 2 0 2 0 ( 1 0 . 0 0 h r s ) t o
Recovery Officer-I,
and the listed entity i.e www.kapilrajfinanoeltd.oom. 3 0 . 0 9 . 2 0 2 0 ( 1 5 : 0 0 h r s ) in t w o ( 0 2 ) c o v e r s . DRT-III, Delhi
b) The impacton net profit/loss, total comprehensive income oranyotherrelevantfinancial item(s) duetochange(s) in accounting 3. Opening of Bids:- T h e b i d s r e c e i v e d u p t o d u e d a t e a n d t i m e s h a l l b e o p e n e d o n 0 1 . 0 9 . 2 0 2 0 a t 1 4 . 0 0 h r s o r a n y
policies shall be disclosed by means of a footnote. d a t e c o n v e n i e n t t o t h e d e p a r t m e n t in t h e o f f i c e o f E x e c u t i v e E n g i n e e r , M H C H D , Srinagar
o) # - Exceptional and/or Extraordinary Items adjusted in the Statement of Profit and Loss in accordance with Ind-AS Rules / AS
Rules, whichever is applicable. Executive Engineer,
For Kapil Raj Finance Limited M H C H D , S r i n a
DIPK-5719/20 gar
Sd/-
Meehir AtulDoshi
Date: September 1 4 , 2 0 2 0 Whole Time Director
Place: Delhi DIN: 08536239

P O S S E S S I O N N O T I C E (for i m m o v a b l e p r o p e r t y ) R u l e 8-(1)
Whereas, the undersigned being the Authorized Officer of IIFL Home Finance Limited (Formerly known as India Infoline Housing Finance Ltd.)(IIHFL)
under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 and in exercise of powers conferred
under section 13(12) read with Rule 3 of the Security Interest (Enforcement) Rules 2002, a Demand Notice was issued by the Authorised Officer of
the company to the borrowers / co-borrowers 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 IIHFL for an amount as mentioned herein under with interest thereon."The borrower's
attention is invited to provisions of sub-section (8) of section 13 of the Act, If the borrower clears the dues of the "IIHFL" together with all costs,
charges and expenses incurred, at any time before the date fixed for sale or transfer, the secured assets shall not be sold or transferred by "IIHFL"
and no further step shall be taken by "IIHFL" for transfer or sale of the secured assets.
Name of the Borrower(s) Description of Secured Asset (Immovable Property) Total Date of Date of
Noida & Vaishali Branch All that piece and parcel of 1,Flat No.A-84/4, Fourth Floor, Executive Outstanding D e m a n d Possession
Mr. RAJIV FRANK BUNNY, Floor, Greenwood Enclave, Wave City,Sector-5, NH-24, Ghaziabad, Dues (Rs.) Notice
RAHUL SIMON BUNNY Uttar Pradesh. 2. Flat No.A-84/3, Third Floor, Executive Floor, Rs.
1 8 - M a r - 2 0 2 0 10-Sept-2020
(Prospect No. 730460 & Greenwood Enclave, Wave City,Sector-5, NH-24, Ghaziabad, Uttar 19,46,887/-
730466) Pradesh. Rs.
22,79,048/-
Mrs. Nilima Sahay, All that piece and parcel of Apartment No. 1102, Type 2 BHK, 11th Rs.
Floor, Block D, area admeasuring 960 Sq. Ft., situated in Shivalik 2 0 - F e b - 2 0 2 0 10-Sept-2020
Mr. Birendra Kumar Sahay 9,94,186/-
(Prospect No. 760964) Homes-2, Plot No GH-01 C, Sector 16, Greater Noida(west) Uttar
Pradesh
Ankit Gupta, Prachi Gupta All that piece and parcel of Apartment No-1105, Type 2 BHK+Study, Rs.
(Prospect No. 762997) 11th Floor Block B1, Leaseable Area 1095 sq feet, Shivalik Homes 2 , 15,43,313/- 2 4 - J a n - 2 0 2 0 10-Sept-2020
Plot No- GH-01C, Sector -16 Greater Noida, (West), Gautam Budh
Nagar, NOIDA -2.
Mr. Deepak Kumar, Birpal All that piece and parcel of Apartment No 1402 leasable area of 960 Rs.
2 8 - J a n - 2 0 2 0 10-Sept-2020
Singh, Rohtash Kumar Sq.ft, Type 2 BHK, Floor 14th, Block-D , Shivalik Homes-2, Plot No 10,12,586/-
(Prospect No.762385 & GH-01C, Sector - 16, Greater Noida West, Gautam Buddha Nagar,
& NBCC Place Pragati Vihar, N e w Delhi-110003
767072) UTTAR PRADESH-201308 Rs. 24,009/-
Mr. ABHINAV PARAS PANDEY All that piece and parcel of being Apartment No 601, Type - 3 Bhk Rs.
and Mrs.Bhawna Joshi Floor 6Th, Block- B1, Shivalik Homes-2, Plot No Gh-01 C, Sector-16, 15,03,976/- 1 1 - M a r - 2 0 2 0 10-Sept-2020
Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390 007
(Prospect No.773836) Greater Noida West - 201308, Noida 2, (West) Delhi/Ncr. Corporate Office: ICICI Bank Towers, Bandra- Kurla Complex, Bandra (E), Mumbai - 400 051
Mr. LAKHAN SINGH, All that piece and parcel of Residential Floor No.348, Ground Floor, Rs.
1 0 - M a r - 2 0 2 0 10-Sept-2020
Mrs. Neelam Raghav Sector-3 Kingwood Enclave, Having area 162.21 Sq. Mtrs., Wave 24,03,914/- NOTICE TO SHOW CAUSE IN TERMS OF RBI CIRCULAR ON WILFUL DEFAULTERS
(Prospect No 724740) City, Nh-24, Tehsil And District Ghaziabad Uttar Pradesh.
Mr. Raghuvansh Kumar All that piece and parcel of Apartment No.-504, Type 2 BHK, Floor Rs.
Snvastava and Mrs. Richa 5th, Block C1, Leasable aarea 930 Sq. Ft., Shivalik Homes-2, 10,88,368/-
1 7 - J a n - 2 0 2 0 10-Sept-2020 Mr. Kapil Gupta Mrs. Sonia Kapil
Srivastava/ (Prospect No. sitauted at Plot No-GH-01C, Sector - 1 6 , Greater Noida (West), H. No. 349, Gautam Budh Nagar, H. No. 349, Gautam Budh Nagar,
756768) District Gautam Budh Nagar, Uttar Pradesh-201301
Mr. Manish Kumar Sharma, All that piece and parcel of Flat No. E-0105, 1st Floor, "Springview Rs.31,47,291/-
Sector-15 A, Noida, Uttar Pradesh- 201 301 Sector-15 A, Noida, Uttar Pradesh- 201 301
& 2 2 - J a n - 2 0 2 0 10-Sept-2020
Mr. R.P. Sharma@Mr Rajendei Heights Crescent ParC Township", NH-24, Ghaziabad Uttar Pradesh.
Prasad Sharma (Prospect No. W e , I C I C I B a n k L i m i t e d ("the B a n k " ) at t h e r e q u e s t of C o m p a c t L a m p s Private L i m i t e d ( " t h e B o r r o w e r / C L P L " ) h a d , inter alia, s a n c t i o n e d credit facilities a g g r e g a t i n g t o
Rs.1,27,144/-
735363 & 742882) R s . 1 9 0 . 0 m i l l i o n c o m p r i s i n g of W o r k i n g Capital facility of R s . 1 8 0 . 0 m i l l i o n a n d Derivative facility of R s . 1 0 . 0 m i l l i o n i n J u n e 2 0 1 7 ("the Facilities") w h i c h w e r e a m e n d e d f r o m
Mr. Shiv Kumar, Mrs. Maha All t h a t piece and parcel of Flat No. C 0705, Building No. C, Rs. t i m e t o t i m e at their request. In t e r m s of t h e f i n a n c i n g d o c u m e n t s pertaining t o t h e Facilities, t h e B o r r o w e r has failed a n d neglected t o m e e t its obligation, i n c l u d i n g b u t n o t limited
1 0 - J a n - 2 0 2 0 10-Sept-2020
Bharti (Prospect No.752235) admeasuring 1423 Sq. Ft. Crescent Part Township NH 24 Ghaziabad 42,04,338/-
Uttar Pradesh-201301.
to r e p a y m e n t obligations, towards t h e Facilities a n d h a s c o m m i t t e d breaches a n d defaults thereof.
Mr. Ankit Kapil, Mrs. Rekha All that piece and parcel of Flat No.1405, 14th Floor, Tower F01, Rs.1,03,679/- Pursuant t o continuing default, t h e Facilities w e r e classified as N o n - P e r f o r m i n g Asset b y t h e B a n k o n S e p t e m b e r 28, 2 0 1 8 a n d t h e B a n k recalled t h e Facilities vide notice dated
& 1 5 - J a n - 2 0 2 0 10-Sept-2020
Kapil (Prospect No.750920 Tower -F, Spring view Heights NH-24, Ghaziabad, Uttar Pradesh- October 25, 2018.
& 748574) 201010 Rs.35,77,246/-
B a s e d o n t h e f o l l o w i n g f i n d i n g s , C o m m i t t e e of h i g h e r f u n c t i o n a r i e s , h e a d e d b y a n E x e c u t i v e D i r e c t o r a n d consisting of t w o other s e n i o r officers of t h e B a n k ("the C o m m i t t e e " )
Mr. Rajneesh Gosain and All that piece and parcel of Flat No- B-1106, 11th Floor, Spring View Rs.
Height , Nh - 24, Ghaziabad, Uttar Pradesh-201010 24,70,915/- 1 3 - J a n - 2 0 2 0 10-Sept-2020 at its m e e t i n g h e l d o n J u n e 16, 2 0 2 0 , directed t o i s s u e s h o w - c a u s e n o t i c e t o y o u b o t h as t o w h y y o u s h o u l d n o t b e d e c l a r e d as " W i l f u l D e f a u l t e r " i n t e r m s of R B I G u i d e l i n e s f o r
Nidhi Gosain (Prospect No.
746927) the following reasons:
Mohd Akhlas, Begum Salma All that piece and parcel of the property bearing Unit/Flat No.923, Rs. • D i v e r s i o n of b o r r o w e d f u n d s t o g r o u p c o m p a n i e s t h r o u g h fictitious inventory/receivables transactions
2 5 - A p r - 2 0 1 9 10-Sept-2020
(Prospect. 734041) First Floor, Springwood Enclave, Sector-4, Wave City, NH-24, 13,79,836/-
• Utilizing t h e cash flows to p a y unsecured loans prioritizing over secured B a n k borrowings
Ghaziabad, Uttar Pradesh
Mr. Sachin Kambli, All that piece and parcel of Unit No.1229-1 BHK Tower-9, 12th Floor, Rs. Accordingly, a Notice dated August 27, 2 0 2 0 w a s issued t o y o u both calling u p o n to submit a written response within 2 1 days f r o m t h e date receipt of the Notice, as to w h y y o u
0 4 - D e c - 2 0 1 9 10-Sept-2020
Mrs. Meenu Kambli Dream Home Sec-5, Wave city NH-24, Ghaziabad , UttarPradesh- 11,02,267/- should n o t b e declared as Wilful Defaulters under clause 2.1.3 of the R B I Circular o n Wilful Defaulter, which h a s returned undelivered.
(Prospect No. IL10002708) 201010.
T h r o u g h this publication, o p p o r t u n i t y is b e i n g given t o y o u t o s u b m i t y o u r r e p r e s e n t a t i o n w i t h i n 2 1 d a y s of this publication. Additionally, y o u m a y also r e q u e s t f o r a p e r s o n a l
Mr. Pravin Kumar, Mrs. Kiran All that part and parcel of the property bearing Residential Floor Rs.
2 1 - A p r - 2 0 1 8 10-Sept-2020 h e a r i n g b e f o r e t h e C o m m i t t e e i n t e r m s of t h e a f o r e s a i d Circular. If y o u fail t o r e s p o n d or s u b m i t y o u r r e p r e s e n t a t i o n w i t h i n stipulated time, it will b e d e e m e d that y o u h a v e
Rai, (Prospect No.743350 A-82/3, 3 rd Floor, Executive Floor, Sector-5, Green Wood Enclave, 26,78,438/-
& 724638 & 726125) Wave City, NH-24, Ghaziabad, NCR, Uttar Pradesh - 201010. nothing t o s u b m i t a n d matter will b e placed b e f o r e t h e appropriate c o m m i t t e e f o r issuing necessary orders f o r classifying y o u as W i l f u l Defaulter u n d e r t h e applicable l a w s a n d
Mr. Rahul Yadav, Mrs. Upasna All that piece and parcel of Appartment No. Amulya Sun 4-1105, Rs. regulations a n d such order will b e final.
2 6 - D e c - 2 0 1 9 12-Sept-2020
Yadav (Prospect No.788561) 11th Floor, Migsun Roof, comprised on Plot No. Khasra No. 4,5&51, 11,64,939/-
This notice is i s s u e d t o y o u w i t h o u t p r e j u d i c e t o t h e rights a n d r e m e d i e s available t o t h e B a n k u n d e r l a w and/or contract o r both.
Raj Nagar Extension, Sikrod, Ghaziabad, Uttar Pradesh.
N o t e : F o r m o r e details, y o u c a n c o n t a c t M s . A n s h u Jain of I C I C I B a n k L i m i t e d at 8 8 0 0 8 - 9 4 6 4 7 or write t o a n s h u . j @ i c i c i b a n k . c o m
For, further details please contact to Authorised Officer at Branch Office A-100, Sector 58, Noida, Uttar Pradesh 201301/ Branch Office:- Office
no.- 1, First Floor, Mahalaxmi Metro Tower, Plot No. -C-1, Sector-4, Vaishali, Ghaziabad, Uttar Pradesh - 201010. / Corporate Office : Plot No. September 16, 2020 Sd/-ICICI Bank L t d
98, Phase-IV, Udyog Vihar, Gurgaon, Haryana.
Place: Ghaziabad & Noida Date: 16-09-2020 Sd/- Authorised Officer For IIFL Home Finance Limited (IIFL HFL) Authorized Signatory

•• •• •• •• •• •• •• ••
BusinessStandardNEW DELHI | W E D N E S D A Y 16 SEPTEMBER 2020 15
O O Htm isdifl nqx/r i f H;fftr FORM B
PUBLIC ANNOUNCEMENT
ALANKIT ASSOCIATES PRIVATE LIMITED
CIN: U65100DL2011PTC215556
A L A N K I T FINSEC LIMITED
CIN: U74899DL1995PLC069212
^ O H f t w M R W , g d c x ' t , H f t w - 462024 ( e . i . ) (Regulation 12 of the Insolvency and Bankruptcy Board of India Registered Office: 205-208, Anarkali Complex, Jhandewalan Extension, Registered Office: 205-208, Anarkali Complex, Jhandewalan Extension,
(Liquidation P r o c e s s ) Regulations, 2016) New Delhi-110055 New Delhi-110055
j m s e f d % (0755) 2478250, 51,52, 53 FOR THE ATTENTION OF THE STAKEHOLDERS OF Mfs TREND FLOORING PRIVATE LIMITED Tel No.: + 91-11-4254 1234/904, Email: info@alankit.com ; director@alankit.com Tel No.: + 91-11-4254 1904, Email: info@alankit.com ; director@alankit.com
b-fUfOnr 0 . % i 0 3 2 6 / H f r . 5 . i . / i T T . / i j ? T T B d f Q i b y / 0 4 / 2 0 f n . 1 5 . 0 9 . 2 0 FORM NO. CAA. 2 FORM NO. C A A . 2
1. N a m e of corporate debtor M/s T R E N D F L O O R I N G PRIVATE LIMITED
[Pursuant to Section 230(3) and rule 6 and 7] [ P u r s u a n t t o Section 230(3) a n d rule 6 a n d 7]

r t t Bdf b-fUfOnr vieFT ipuf (iste) 2. D a t e o f incorporation o f c o r p o r a t e 2 0 - 1 2 - 2 0 0 5

debtor
Company Application No. CA (CAA) 60 (ND) of 2020
Alankit Associates Private Limited Applicant Company
C o m p a n y A p p l i c a t i o n No. C A (CAA) 60 (ND) o f 2020
A l a n k i t Finsec Limited Applicant Company

( i j m d f i n ; gr) 3. A u t h o r i t y under
d e b t o r is registered.
which corporate REGISTRAR O F COMPANIES, DELHI, U N D E R
COMPANIES ACT1956
NOTICE AND ADVERTISEMENT OF NOTICE OF T H E MEETING OF MEMBERS
Notice is hereby given that by an order dated 11th September, 2020, the New Delhi Bench of
NOTICE A N D ADVERTISEMENT OF NOTICE OF T H E MEETING OF MEMBERS
Notice is hereby given that by an order dated 11th September, 2020, the New Delhi Bench of
the National Company Law Tribunal ("Tribunal") has directed a meeting to be held of equity the National Company Law Tribunal ("Tribunal") has directed a meeting to be held of equity
Hffiiy igdRT nzT i f e;fRd, Hiiiy }TR i f f r , VUH0T f d I ; 4. C o r p o r a t e Identity N o . o f c o r p o r a t e U 1 7 2 2 6 D L 2 0 0 5 P T C 1 4 3 8 4 9 shareholders' of the Applicant Company for the purpose of considering, and if thought fit, shareholders' of the Applicant Company for the purpose of considering, and if thought fit,
W i l i e i t t f T d i U / O e / ^ t i i Two bid system "nf fCf debtor approving with or without modification, the proposed scheme of Amalgamation of Alankit approving with or without modification, the proposed scheme of Amalgamation of Alankit
5. A d d r e s s o f t h e registered office a n d R E G D O F F I C E : 4 1 1 , 4 T H Floor 4 3 , Chiranjiv Associates Private Limited (Transferor Company No. 1) and Kuber Recycle Projects Private Associates Private Limited (Transferor Company No. 1) and Kuber Recycle Projects Private
i f " (ddUldl , 0 RiJl; fCf) d VTXT nf o"f d f y , m p Limited (Transferor Company No. 2) with Alankit Finsec Limited (Transferee Company) and Limited (Transferor Company No. 2) with Alankit Finsec Limited (Transferee Company) and
principal office (if a n y ) o f c o r p o r a t e T o w e r , Nehru Place, N e w Delhi-110019
d ' T y / d ' f y / v ^ ' T y / v d ' f y R d r i n ; dRU g g f f n ii=i e debtor
their respective shareholders and creditors ('the Scheme' or 'this Scheme'.) their respective shareholders and creditors ('the Scheme' or 'this Scheme'.)
In pursuance of the said order and as directed therein, further notice is hereby given that a In pursuance of the said order and as directed therein, further notice is hereby given that a
f n ; x t fUre , 0 'TTT d v F R b - f f n f ( i s e ) v f ; dT tiTT Ti 6. Date o f closure o f Insolvency 09-09-2020 meeting of equity shareholders of the Applicant Company will be held at 205-208, Anarkali meeting of equity shareholders of the Applicant Company will be held at 205-208, Anarkali
Resolution P r o c e s s Complex, Jhandewalan Extension, New Delhi-110055 on Monday, the 19th day of October, Complex, Jhandewalan Extension, New Delhi-110055 on Monday, the 19th day of October,
f f n v f gpf giU iR 0 d i d idiNyn giU iR v ^ i v f i e
7. Liquidation c o m m e n c e m e n t date o f 0 9 - 0 9 - 2 0 2 0 ( C o p y o f o r d e r received o n 14-09- 2020 at 10:00 a.m. at which time and place the said equity shareholders are requested to 2020 at 12:30 p.m. at which time and place the said equity shareholders are requested to
v f R r , d oi"F r d dT f e vgeiRd nR , 0 f r f TR dT t i corporate debtor 2020) attend. attend.

idXTi fUfdndrf f U 0 n ii=i dT d l e r R f 2000/-(nf g t R 8. N a m e a n d registration n u m b e r o f t h e N a m e - Mr. C h a n c h a l D u a

Copies of the Scheme and of the statement under section 230 can be obtained free of charge at Copies of the Scheme and of the statement under section 230 can be obtained free of charge at
the registered office the Applicant Company or at the office of its authorised representative Ms. the registered office the Applicant Company or at the office of its authorised representative Ms.
ei=i) http://www.mptenders.gov.in d ei/pe l vTUXibU insolvency professional acting a s R e g d . N o . -
Rekha Mittal at 8/19, Upper Ground Floor, West Patel Nagar, New Delhi - 110008. Persons Rekha Mittal at 8/19, Upper Ground Floor, West Patel Nagar, New Delhi - 110008. Persons
liquidator IBBI/IPA-003/IP-N00083/2017-18/10821
HXTU dR fnuid 16.09.2020 i i g : 11:00 i t l f R d 06.10.2020 entitled to attend and vote at the meeting, may vote in person or proxy, provided that all proxies entitled to attend and vote at the meeting, may vote in person or proxy, provided that all proxies
9. A d d r e s s a n d e-mail o f t h e liquidator, A d d : 1-A/85-A, Ramesh Nagar, N e w Delhi- in prescribed form are deposited at the registered office of the Applicant Company at 205-208, in prescribed form are deposited at the registered office of the Applicant Company at 205-208,
niigR 12:00 c t r d f U f d n i i i x vfHyigH 0 ; d R i d t t i fUfdni a s registered with t h e B o a r d 110015. E-Mail: c h a n c h a l d u a c o @ g m a i l . c o m Anarkali Complex, Jhandewalan Extension, New Delhi-110055 not later than 48 hours before Anarkali Complex, Jhandewalan Extension, New Delhi-110055 not later than 48 hours before
the meeting. the meeting.
i i / f r fU;e 0 ' i t , 0 f ^ g r H R ,e.iT.iT.gT.,d. dT 10 A d d r e s s a n d e - m a i l t o b e u s e d tor
A d d : A R C K R e s o l u t i o n Professionals LLP, 4 0 9 ,
c o r r e s p o n d e n c e with t h e liquidator 4th Floor, A n s a l Bhawan, 1 6 K G Marg, Forms of proxy can be obtained free of charge at the registered office of the Applicant Company. Forms of proxy can be obtained free of charge at the registered office of the Applicant Company.
www.mpcdf.gov.inAfiiTy i g d f R n T / f i f dT t i i f b V The Tribunal has appointed Sh. Reetesh Kumar Agarwal as the Chairperson and Sh. Susheel The Tribunal has appointed Sh. Reetesh Kumar Agarwal as the Chairperson and Sh. Susheel
C o n n a u g h t Place, N e w D e l h i - 1 1 0 0 0 1
www.sanchibhopal.com e ei=i iBU gg; miyc/T g i g-PiHrii df Kumar Gupta as the Alternate Chairperson of the said meeting. T h e above mentioned Kumar Gupta as the Alternate Chairperson of the said meeting. T h e above mentioned
E-Mail: i n s o l v e n c y @ a r c k . i n
amalgamation, if approved by the meeting, will be subject to the subsequent approval of the amalgamation, if approved by the meeting, will be subject to the subsequent approval of the
i g f e / v W : , LtdR/vLfldK dRU df i . vf/idRT g g ; d i i i y u 11 L a s t d a t etors u b m i s s i o n o f claims 09-10-2020 Tribunal. Tribunal.
Sd/- Sd/-
f d f R df g i Notice is h e r e b y g i v e n t h a t the National C o m p a n y L a w Tribunal, N e w Delhi B e n c h III, N e w
Place: New Delhi Reetesh Kumar Agarwal Place: New Delhi Reetesh K u m a r A g a r w a l
Delhi, h a s o r d e r e d t h e c o m m e n c e m e n t o f liquidation o f t h e M / s T R E N D F L O O R I N G
e . i . ef/di/98460/2020 Tpff didjitiH vf/idiRl Date: 15th September, 2020 Chairperson appointed for the meeting Date: 15th September, 2020 C h a i r p e r s o n a p p o i n t e d f o r t h e meeting
PRIVATE L I M I T E D o n 0 9 - 0 9 - 2 0 2 0 ( C o p y o f O r d e r w a s received o n 14-09-2020).
T h e s t a k e h o l d e r s o f M / s T R E N D F L O O R I N G PRIVATE L I M I T E D a r e h e r e b y called u p o n
t o s u b m i t their c l a i m s w i t h proof o n o r before 0 9 - 1 0 - 2 0 2 0 ,tot h e liquidator a t t h e a d d r e s s
m e n t i o n e d a g a i n s t item N o . 10.

T h e financial creditors shall s u b m i t their c l a i m s w i t h proof b y electronic m e a n s only. A l l

o t h e r creditors m a y s u b m i t t h e c l a i m s w i t h t h e proof in p e r s o n , b y p o s t o r b y electronic
means.

S u b m i s s i o n o f false o r misleading proof o f c l a i m s s h a l l attract penalties.

BLUE CHIP INDIA LIMITED KUBER RECYCLE PROJECTS PRIVATE LIMITED
CIN: U74110DL2008PTC184268
Regd. Office :10 Princep Street, 2 n d Floor, Kolkata - 7 0 0 0 7 2
Registered Office: 205-208, Anarkali Complex, Jhandewalan Extension,
D a t e : 16-09-2020 Chanchal Dua E: i n f o @ b l u e c h i p i n d . n e t , W : w w w . b l u e c h i p i n d . n e t
New Delhi-110055
Place: N e w Delhi L i q u i d a t o r - M / s T r e n d F l o o r i n g Private L i m i t e d Phone : 91-33-4002 2880, F a x :91-33-2237 9053
Tel No.: + 91-11-4254 1234/904, Email: info@alankit.com ; director@alankit.com
CIN: L 6 5 9 9 1 W B 1 9 9 3 P L C 0 6 0 5 9 7
FORM NO. CAA.2
EXTRACT OF UN-AUDITED FINANCIAL RESULTS FOR
[Pursuant to Section 230(3) and rule 6 and 7]
THE 1 S TQ U A R T E R ENDED 30TH JUNE, 2020. (Rs. In Lacs)
Company Application No. CA (CAA) 60 (ND) of 2020
SI. Particulars Quarter ended Year Ended
Kuber Recycle Projects Private Limited Applicant Company
No. 30.062020 31.032020 30.06.2019 31.03.2020 NOTICE AND ADVERTISEMENT OF NOTICE OF T H E MEETING OF MEMBERS

Business at
(Unaudited) (Audited) (Unaudited) (Audited)
Notice is hereby given that by an order dated 11th September, 2020, the New Delhi Bench of
1 Total Income from Operations 0.00 0.05 0.00 0.08 the National Company Law Tribunal ("Tribunal") has directed a meeting to be held of equity
2 Net Profit / (Loss) for the period (before shareholders' of the Applicant Company for the purpose of considering, and if thought fit,
Tax, Exceptional and/or Extraordinary
approving with or without modification, the proposed scheme of Amalgamation of Alankit
items#) -12.13 -5.86 -106.09 -124.97
Associates Private Limited (Transferor Company No. 1) and Kuber Recycle Projects Private

your finger tips

K o t a k Infinifi, B l d g N o 2 1 , Infinity P a r k , G e n e r a l A K V a i d y a M a r g , M a l a d ( E ) , 3 Net Profit / (Loss) for the period before tax
[after Exceptionel end/or Extraordinary Limited (Transferor Company No. 2) with Alankit Finsec Limited (Transferee Company) and
Mumbai - 4 0 0 0 9 7 www.kotak.com
items#) -12.13 -5.86 -106.09 -124.97 their respective shareholders and creditors ('the Scheme' or 'this Scheme'.)
AUCTION - NOTICE
That the below mentioned Borrower/s had availed gold loan facility against security of t h e a o l d 4 Net Profit / (Loss)forthe period after tax In pursuance of the said order and as directed therein, further notice is hereby given that a
ornaments/ items, as specified below. T h e Borrower/s defaulted in d u e repayment oTthe (after Exceptional and/or Extraordinary meeting of equity shareholders of the Applicant Company will be held at 205-208, Anarkali
installments and outstanding dues and as a result of which the Bank was constrained t o issue items#) -12.13 -5.86 -106.09 -124.97
notices calling upon the Borrower/s to repay t h e outstanding amounts. However, t h e Complex, Jhandewalan Extension, New Delhi-110055 on Monday, the 19th day of October,
Bomower/s has failed to repay/clear his outstanding dues thereby compelling t h e Bank to 5 Total Comprehensive Incomeforthe period
2020 at 11:00 a.m. at which time and place the said equity shareholders are requested to
auction the gold ornaments pledged in favour of the Bank. [Comprising Profit / (Loss)forthe penod
The auction of the below mentioned gold ornaments would be held at :- (after tax) and Other Comprehensive attend.
Date: 2 5 S e p t 2 0 2 0 Time: 10.30 A M Place: R e s p e c t i v e Branch P r e m i s e s income (aftertax)] 40.41 -108.86 -115.89 -300.60
Copies of the Scheme and of the statement under section 230 can be obtained free of charge at
6 Equity Share Capital 1106.09 1106.09 1106.09 1106.09
A p a C ACC
N°0
Unl
Borrower Name s t a t e Location Branch ^ G ™ 9 the registered office the Applicant Company or at the office of its authorised representative Ms.
7 Reserves (excluding Revaluation Reserve) Rekha Mittal at 8/19, Upper Ground Floor, West Patel Nagar, New Delhi - 110008. Persons
as shown in the Audited Balance Sheet of
the previous year -1125.27 entitled to attend and vote at the meeting, may vote in person or proxy, provided that all proxies
8 Earnings Per Share (of Rs.2/- each) (for in prescribed form are deposited at the registered office of the Applicant Company at 205-208,
continuing and discontinued operations) Anarkali Complex, Jhandewalan Extension, New Delhi-110055 not later than 48 hours before
1. Basic: 0.07 (0.20) (0.21) (0.54) the meeting.
2. Diluted: 0.07 (0.20) (0.21) (0.54)
Forms of proxy can be obtained free of charge at the registered office of the Applicant Company.
Note: The Tribunal has appointed Sh. Reetesh Kumar Agarwal as the Chairperson and Sh. Susheel
1 T h e a b o v e is a n extract of the detailed format of Quarterly/Annual Financial Results K u m a r Gupta as the Alternate Chairperson of the said meeting. T h e above mentioned
filed with the Stock E x c h a n g e s under Regulation 33 of t h e S E B I (Listing a n d O t h e r
Disclosure Requirements) Regulations, 2015. T h e full format of t h e Quarterly/Annual amalgamation, if approved by the meeting, will be subject to the subsequent approval of the
Financial Results are available on the Stock Exchanges website i.e. www.nseindia.com, Tribunal.
www.bseindia.com and www.cse-india.com and on the Company's website: Sd/-
www.bluechipind.net
Place: New Delhi Reetesh Kumar Agarwal
2 T h e impact o n net profit / loss, total c o m p r e h e n s i v e i n c o m e or a n y o t h e r relevant
financial item(s) due to change(s) in accounting policies shall be disclosed b y m e a n s Date: 15th September, 2020 Chairperson appointed for the meeting
of a footnote.
3 # - Exceptional a n d / o r Extraordinary items adjusted in t h e Statement o f Profit a n d
Loss in accordance with Ind-AS Rules / A S Rules, w h i c h e v e r is applicable.
On behalf of t h e Board o f Directors
For B L U E C H I P INDIA L I M I T E D
S d /-
Arlhant Jain
Place : Kolkata Managing Director
Date : 14th September, 2020 DIN : 00174557

G O V E R N M E N T OF J A M M U A N D KASHMIR
OFFICE OF THE EXECUTIVE ENGINEER PWD (R&B) DIVISION RAMBAN
(3rd Time Short Term) NOTICE INVITING TENDERS
Fresh e-NIT No 21 of 2020-21 dated 10-09-2020 To Fresh e-NIT No 20 of 2020-21 dated 21-08-2020. fresh
e-NIT No 17 of 2020-21 dated 10-08-2020 . e-NIT No 15 of 2020-21 dated 30-07-2020. e-NIT No 11 of 2020-21
dated 07-07-2020 & e-NIT No 07 of 2020-21 dated 23-06-2020 (E-tenderinq).
For a n d o nbehalf o f t h e Lt. G o v e r n o r o fJ a m m u a n d K a s h m i r UT, t h e Executive E n g i n e e r P W D ( R & B ) Division R a m b a n invites tenders b y e-tendering
m o d e o n I t e m / % a q e rates f r o m a p p r o v e d a n d eligible Contractors/Firms registered with J & K U T . C P W D , M E S & Railways forthe following work:-

S. Name of work N a m e o f Estimated cost of Cost of Tender Earnest Money Time allowed Time & Date of Class of
No. Division Work (in Lacs) Doc. (In Rs) (In Lacs) for completion Opening offender Contractor
(Technical Bid)

22-09-2020 at 12.00 A.M

PWD (R&B) DIVISION RAMBAN

1. Providing and laying W B M Grade II ( i n stretches), W B M Grade III including 64.00 1000 @ 2% of 01 Month Hot Mix
P/L 50 mm thick Bitumenous Macadam, 25 mm thick S D B C ( P r e m i x c a r p e t ) Adv. Cost Plant
and Kacha Drain in km 1st RD (0-1000) t o K m 2nd RD (0-1000) on Abass Holder/
M o r h t o Panla Road Distt. Ramban. ( U n d e r NABARD) " A " Class
2. Construction / Realignment of Damtop t o Kundi Chill Gagla road km 2nd RD 36.20 1000 @ 2% of 03 M o n t h "A & B"
(925-1000)and Km 3rd RD (0-250).( Under NABARD)(fresh 2nd Time) Adv. Cost
3. Improvement / Up-gradation of road from Horticulture Complex Govindpura 6.92 600 @ 2% of 01 Month Hot Mix
Ramban b y w a y of P/L150 m m thick W B M Grade II in patches , 75 mm thick Adv. Cost Plant
Holder/
W B M Grade-III and 25 mmthick SDBC.(Under RC)
" A " Class
4. Constt. of Crated R/wall on Kanga B h a t n i v i a G a n d r i r o a d in km 4th RD (450- 1.66 600 @ 2% of 01 Month "D"
Curated newsletters on Markets, 500) ( u n d e r s t a t e Plan). Adv. Cost
Personal Finance, Policy & Politics, PositionofAAA = Available
Position of funds = P A R T L Y A v a i l a b l e in 2 0 2 0 - 2 1 p l a n
Technology, Startups & more 1. D a t e o f I s s u e o f T e n d e r N o t i c e : - 1 0 - 0 9 - 2 0 2 0
2. P e r i o d o f d o w n l o a d i n q o f b i d d i n q d o c u m e n t s :- F r o m 1 1 - 0 9 - 2 0 2 0 . 1 0 . 0 0 A . M t o 2 1 - 0 9 - 2 0 2 0 . 4 . 0 0 P. M
3. D a t e . T i m e a n d p l a c e o f p r e - b i d m e e t i n q :-
Unlimited access to all content 4. B i d s u b m i s s i o n Start D a t e : - 1 1 - 0 9 - 2 0 2 0 F r o m 10.00 A . M
5. B i d S u b m i s s i o n E n d D a t e : - 2 1 - 0 9 - 2 0 2 0 u p t o 4 . 0 0 P. M
across devices 6. S u b m i s s i o n o f h a r d c o p y o f t e n d e r d o c u m e n t s : - O n l y s u c c e s s f u l b i d d e r w h o is d e c l a r e d a s L 1 s h o u l d s u b m i t t h e h a r d c o p y a f t e r o p e n i n q o f f i n a n c i a l b i d s
7. D a t e & t i m e o f o p e n i n q o f T e c h n i c a l B i d s ( O n l i n e ) - [ T h e d a t e s h o u l d b e o n e d a y a f t e r d e a d l i n e f o r r e c e i v i n q o f h a r d c o p i e s ] : - 2 2 - 0 9 - 2 0 2 0 a t 1 2 . 0 0 A . M in t h e
Office of the Executive Enqineer P W D (R&B) Division Ramban.
24 years of archival data 8. D a t e & t i m e o f o p e n i n q o f F i n a n c i a l B i d s ( O n l i n e ) : - T o b e n o t i f i e d a f t e r t e c h n i c a l b i d e v a l u a t i o n is c o m p l e t e d
1. T h e B i d d i n q d o c u m e n t s C o n s i s t i n q o f q u a l i f y i n q i n f o r m a t i o n . e l i q i b i l i t y c r i t e r i a . s p e c i f i c a t i o n s . D r a w i n q s . bill o f q u a n t i t i e s ( B . O . Q ) . S e t o f t e r m s a n d
conditionsofcontractandotherdetailscanbeseen/downloaded from the departmental website www.iktenders.qov.in. S d / - (Er. M a q b o o l H u s s a i n )

Select 5 companies of your choice No. DIP/J-4466/20 Dated: 12.09.2020 Executive Enqineer

to track their news and stock price

Preferred invites to SAM Branch, First Floor, 17, Parliament Street,

New Delhi-110001 (Ph. 011-40230166)
Business Standard events Email: br.samlb_newdelhi@allahabadbank.in
armbdelhi@indianbank.co.in
"APPENDIX- IV-A" [See proviso to rule 8 (6)]
Sale noticeforsale of Immovable Properties
E-Auction Sale Notice for Sale of Immovable Assets under the Securitization and Reconstruction of
Financial Assets and Enforcement of Security Interest Act, 2002 read w i t h proviso to
Rule 8 (6) of the Security Interest (Enforcement) Rules, 2002.
N o t i c e is h e r e b y g i v e n t o t h e p u b l i c in g e n e r a l a n d in p a r t i c u l a r t o t h e B o r r o w e r s ) a n d G u a r a n t o r s ) t h a t t h e b e l o w m e n t i o n e d i m m o v a b l e p r o p e r t y / i e s m o r t g a g e d / c h a r g e d /

BS premium digital Bidders are requested to Submit a copy of their Photo-identity, signature and address proof along with
hypothecated/pledged t o t h e Secured Creditor (Indian Bank e-Allahabad Bank), the constructive/physical possession mentioned below o f which has been taken by the
A u t h o r i z e d O f f i c e r o f e - A l l a h a b a d B a n k ( N o w I n d i a n B a n k ) S e c u r e d Creditor, will b e s o l d o n " A s is w h e r e is", " A s i s w h a t is", a n d " W h a t e v e r t h e r e is" B a s i s o n 0 7 . 1 0 . 2 0 2 0 , f o r
their original for verification together with two recent photographs on the day of auction. The Bank
r e c o v e r y o f a m o u n t a s m e n t i o n e d b e l o w , d u e t o t h e S e c u r e d C r e d i t o r f r o m B o r r o w e r s , G u a r a n t o r s a n d M o r t g a g o r s . T h e r e s e r v e p r i c e is m e n t i o n e d b e l o w a n d t h e e a r n e s t m o n e y
at ?1499/year reserves the right to change the venue/date/time of auction or cancel theauction without any notice to
bidders.The cost of the auction process wi 11 be debited to the customer account. Bank reserves the right
to recover the balance amount from the customer if the bid amount is insufficient t o meet the payoff
t o b e d e p o s i t e d is m e n t i o n e d respectively.

amount of the account. For any further details regarding the terms and conditions of the auction, you On 07.10.2020 from 11.00 a.m. to 4.00 p.m. under SARFAESI Act 2002
a re required t o contact the below mentioned person/s. Kotak Mahindra Bank Ltd. Ph - 8 2 0 9 5 2 3 1 3 7
Name of the N a m e o f t h e G u a r a n t o r (s) Details o f I m m o v a b l e Physical I Amount of Reserve Price
Outstanding dues of Local
For details, SMS reachbs to 57575 Borrowers) /Mortgagor Property/ies Constructive
Possession
Secured Debt
as o n 14.09.2020
Salt Govt and Govt Earnest Money Deposit

ate. If any knowntoBank Min Incremental

or email order@bsmail.in (ii) (iii) (iv) (v) (vi) (vii) Amount

M / S D h a w a n Exim 1. Mr. Sahil D h a w a n 1. V a c a n t land m e a s u r i n g Constructive Rs.918.12 Lacs as on Not k n o w n Rs. 684.00 Lakhs
(P) Ltd (1. M r . S a h i l (Director & M o r t g a g o r ) S / 0 9 Bighas 3 Biswas 14.09.2020(including
Possession to t h e B a n k Rs. 68.40 Lakhs
Dhawan, Director Mustatil no. 61, Killa no.s 2 4 ( 4 - 1 6 ) , E C G C claim a m o u n t )
Sh. Suresh Kumar Dhawan
BOOK YOUR COPY S/o S h . Suresh
2 . S m t . Ritu D h a w a n
2 3 / 2 (1 -12), 2 5 min (2-08), Mustatil no. 6 6 , killa n o . a l o n g w i t h further
Rs. 1.00 Lakh
K u m a r D h a w a n 2. 0 5 min (0-07) situated in r e v e n u e estate o f Village Interest till d a t e o f
S m t . Ritu D h a w a n , (Director & G u a r a n t o r ) W / O
DeraMandi,TehsilMehrauli,NewDelhi-110074 realization o f B a n k ' s
Director W / o S h .S h . S u r e s h K u m a r D h a w a n
2.Vacant land m e a s u r i n g 11 B i s w a bearing dues + expenses, etc

Call 022 4027 5432

Suresh Kumar
Dhawan Mustatil no. 6 1 , killa no. 2 5 m i n (0-11) situated in w.r. t o a c c o u n t M / s
Branch: S A M the r e v e n u e estate o f Village D e r a M a n d i , Tehsil D h a w a n E x i m (P) Ltd.

SMS reachbs to 57575 Branch, N e w Delhi Mehrauli, N e w D e l h i - 1 1 0 0 7 4

Business Standard Email us at order@bsmail.in

Date and Time of e-Auction O n 07.10.2020 between 11.00 a.m. to 4.00 p.m. with unlimited extensions o f 10 minutes each. M i n i m u m Bid incremental a m o u n t is a s mentioned above.

For further details and Terms & Conditions, contact:

T h e Dy. General Manager, S A M Branch, First Floor, 17, Parliament Street, N e w Delhi-110001
For d o w n l o a d i n g further details and Terms & C o n d i t i o n s , p l e a s e visit:
(i) https://www.tenders.gov.in

Insight Out (Ph. 0 1 1 - 4 0 2 3 0 1 6 6 )

Email: b r . s a m l b _ n e w d e l h i @ a l l a h a b a d b a n k . i n armbdelhi@indianbank.co.in
jii) www.mstceccomerce.com/auctionhome/ibapi/index.jsp
(iii) https://www.ibapi.in (iv)https://www.indianbank.in

Important note f o r the prospective bidders:

B i d d e r s h a v e t o c o m p l e t e t h e following formalities well in a d v a n c e :
•Step 1 Bidder/Purchaser Registration: Bidder h a s t o register one-auction portal (link-www.mstcecommeice.com/auctionhome/ibapi/index.jsp) using his mobile number and email id.
• S t e p 2 K Y C Verification: B i d d e r t o u p l o a d requisite K Y C d o c u m e n t s . K Y C d o c u m e n t s shall b e verified b y e - a u c t i o n s e r v i c e p r a v i d e r f o r w h i c h it m a y t a k e u p t o 2 w o r k i n g d a y s .
• S t e p 3 T r a n s f e r o f E M D A m o u n t t o H i s G l o b a l E M D Wallet: Online/Offline transfer o f f u n d s using N E F T / T r a n s f e r m o d e , using t h e challan g e n e r a t e d o n e - a u c t i o n portal.

Insight O u t T H E A B O V E M E N T I O N E D S T E P S S H O U L D B E C O M P L E T E D B Y T H E B I D D E R S W E L L IN A D V A N C E , I.E. B E F O R E T H E A U C T I O N D A T E .
( C . 0 . 2 5 4 - 2 6 0 , A w a i S h a n m u g a m Salai, R o y a p e t t a h , C h e n n a i - 6 0 0 0 1 4 )
J bsindia Q bsindia business-standard.com
Date: 14.09.2020, Place: N e w Delhi A u t h o r i z e d Officer, Indian Bank

•• •• •• •• •• •• •• ••
16
>
NEW DELHI | WEDNESDAY 16 SEPTEMBER 2020 1
BusinessStandardNEW DELHI | W E D N E S D A Y 16 SEPTEMBER 2020 16
Aev.as AAVAS FINANCIERS LIMITED
(Formerly known as Au HOUSING FINANCE LIMITED) (CIN:L65922RJ2011PLC034297)
ITL FINLEASE & SECURITIES LIMITED
Regd. Off: B -08, GD -ITL Tower, Netaji Subhash Place, Pitampura, Delhi - 110034,
Avonmore Capital & Management Services Limited
CIN: L67190DL1991PLC045857
Regd. & Corp. Office: 2 0 1 - 2 0 2 , 2 n d Floor, South End Square, Mansarovar Industrial Area, Jaipur. 3 0 2 0 2 0 Tel- 011-27352981-84, Fax-27352985, CIN: L65910DL1991PLC045090,
R e g d . O f f . : F - 3 3 / 3 , Okhla Industrial A r e a , Phase-ll, N e w Delhi - 110020
POSSESSION NOTICE E-mail: csitlfinlease@gmail.com, Web site: www.itlfinlease.com
Tel.: 011-43500700, Fax.: 011-43500707
Whereas, The undersigned being the Authorised Officer of AAVAS FINANCIERS LIMITED (Formerly known as "AU HOUSING FINANCE LIMITED") Extract of Un-Audited Standalone Financial Results forthe Quarter ended June 30,2020 Website: www.avonmorecapital.in, E-mail ID: aecretarial@almondz.com
under the Securitisation and Reconstruction of Financial Assetsand Enforcement o f Security Interest Act, 2 0 0 2 a n d i n exercise of powers conferred
upon m e under section 13(12) read w i t h Rule 9 of the Security Interest (Enforcement) Rules 2002, issued a Demand Notice calling upon t h e
Rs in Lakhs
Extract of Consolidated Unaudited Financial Results
borrowers mentioned herein below t o repay the a m o u n t mentioned in t h e respective notice within 60 days f r o m the date of receipt o f t h e said Quarter Ended Year Ended
for the Quarter Ended 30June 2020
notice. The borrowers havingfailed t o repay the amount, undersigned has taken possession o f t h e properties described herein belowinexerciseof Particulars (30/06/2020) (31/03/2020) 31.03.2020 31.03.2019
powers conferred on me under Section 13(4) o f t h e said Act read w i t h Rule 9 o f t h e said rules on t h e dates mentioned as below. (ReJe lakh, except per share data)
Un-audited Audited Audited
The b o r r o w e r and g u a r a n t o r in p a r t i c u l a r a n d t h e p u b l i c i n general is h e r e b y c a u t i o n e d n o t t o deal w i t h t h e p r o p e r t i e s a n d a n y d e a l i n g s
w i t h t h e p r o p e r t y w i l l be subject t o t h e charge o f t h e AAVAS FINANCIERS LIMITED (Formerly k n o w n as "AU HOUSING FINANCE Total income from operations 14.00 52.88 80.14 78.61 Quarter ended Year ended
LIMITED") f o r an a m o u n t m e n t i o n e d as b e l o w a n d f u r t h e r i n t e r e s t t h e r e o n . Net Profit/ (Loss) for the period (before Tax, 6.11 33.08 23.55 20.73 31 March
30 June 31 March 30 June
Particulars
D a t e 8i A m o u n t Date & Type Exceptional and/or Extraordinary items.) 2020 2020 2019 2020
N a m e o f t h e Borrower Description o f Property
of D e m a n d Notice of Possession Net Profit/ (Loss) for the period before tax 6.11 33.08 23.55 21.64 unaudited audited unaudited audited
Mithlesh, A w a d h Kishore 4-Mar-2020 F r e e h o l d Residential Plot Falling U n d e r Khasra N o . Symbolic (after Exceptional and/or Extraordinary items )
Total income from operations 1,408 1,720 1,748 7,220
(A/c No.) L N N O H 0 2 9 1 7 - Rs.742421.41/- 2 0 7 , V i l l a g e - U s u f p u r C h a k s h a h B e r y Pargana, Tehsil Possession Net Profit/ (Loss) for the period after tax 4.59 26.89 17.65 15.58
180047611 Net profit/(Loss) for the period (before Tax, Exceptional
D u e s as o n 2 - M a r - 2 0 2 0 D a d r i , D i s t r i c t - G a u t a m B u d h Nagar, UP. Taken o n (after Exceptional and/or Extraordinary items )
A d m e a s u r i n g 7 0 Sq. Yard. 14-Sep-2020 and Extraodinary items) 187 (333) 208 580
Total Comprehensive Income for the period 4.59 26.96 17.72 15.68
| P l a c e : Jaipur Date: 1 6 . 0 9 . 2 0 2 0 Authorised Officer Aavas Financiers Limited | [Comprising Profit/ (Loss) for the period (after tax) Net profit/(Loss) for the period before Tax (after
Exceptional and Extraodinary items} 187 (333) 208 580
and Other Comprehensive Income (after tax)
Equity Share Capital 480.81 480.81 480.81 480.81 Net profit/(Loss) for the period after Tax (after Exceptional
and Extraodinary items, minority interest and share of
Reserves (excluding Revaluation Reserves as shown 440.31 440.31 422.59
Aadhar Housing Finance Ltd.
Aadhar
profit/floss) in associate companies) 666 245 480 1,597
in the Audited Balance Sheet of previous year)
8 Earnings Per Share (of Rs. 10/- each) Total Comprehensive Income for the period (comprising
Corporate Office: 201, Raheja Point-1, Near SVC Bank, (for continuing and discontinued operations) - profit/(loss) for the period (after tax) and Other

Vakola, Nehru Road, Santacruz (East), Mumbai - 400055

T I T Housing Finance Ltd (a) Basic 0.10 0.56 0.37 0.32
Comrehensive income (after tax)) 675 328 472 1,661
Equity Share Capital 2,492 2,492 2,492 2,492
L A X M I N A G A R Branch Office: 2nd floor, WA-122, Mother Dairy Road, Near Vishal Medicos, Shakarpur, Delhi- (b) Diluted 0.10 0.56 0.37 0.32
Reserves (excluding Revaluation Reserve as shown
110092 Notes:-
in the Balance sheet) _ 13,281

POSSESSION NOTICE Appendix IV (for immovable property)

1. The above is an extract of the detailed format of standalone unaudited Financial Results for the quarter
Earning Per Share (before extraordinary items)
ended on June 30, 2020, filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing
(of Rs. 10 /- each)
Obligations and Disclosure Requirements) Regulations, 2015. The full format of the Unaudited Financial
Whereas, the undersigned being the Authorized Officer of Aadhar Housing Finance Limited (AMFL) underthe Securitisatioin (a) Basic 2.78 1.35 2.27 6.84
Results for the quarter and Financial year ended on June 30, 2020 is available on the Stock Exchanges
and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 and in exercise of Power conferred (b) Diluted 2.78 1.35 2.27 6.84
website viz. www.msei.in and on Company's website viz. www.itlfinlease.com.
under section 13(12) read with Rule 3 ofthe Security Interest (Enforcement) Rules 2002, Demand Notice (s) Issued by the Earning Per Share (after extraordinary items)
2. The above Unaudited financial results forthe quarter ended on June 30,2020 have been reviewed by the Audit
Authorised officer of the company to the Borrower(s)/Guarantor(s) mentioned herein below to repay the amount mentioned (of Rs. 10 / - each)
Committee and have been approved bythe BoardofDirectorsin its meeting held on 14th September, 2020.
in th notice within 60 days from the date of receipt of the said notice. The borrower having failed to repay the amount, notice (a) Basic 2.78 1.35 2.27 6.84
For ITL FINLEASE & SECURITIES LTD
is hereby given to the Borrower(s)/ Guarantor(s) and the public in general that the undersigned has taken possession of the (b) Diluted 2.78 1.35 2.27 6.84
Sd/-
property described herein below in exercise of powers conferred on him under Sub-Section(4) ofthe Section 13 ofthe said
B.L.GUPTA Key number of Standalone Financial Results
Act said Act read with rule 8 of the Security Interest Enforcement rules, 2002. The borrower's attention is invited to
Place:- Delhi (DIRECTOR)
provisions of sub section (8) of section 13 of the Act, in respect of time available, to redeem the secured assets. The Quarter ended Year ended
Date: 14.09.2020 DIN:00143031
borrower in particular and the public in general are hereby cautioned not to deal with the property and any dealings with the 30 June 31 March 30 June 31 March
Particulars
property will be subject to the charge of AMFL foran amount as mentioned herein underwith interest thereon. 2020 2020 2019 2020
unaudited audited unaudited audited
N a m e of the Branch / D e s c r i p t i o n of S e c u r e d a s s e Date of

I Borrower(s) /Co Borrower (s)

(Loan App.No D1594379 LAXMI
( i m m o v a b l e property)
Plot No-59, RLF City Bhiwadi Alwar, 10-Dec-19 for
Possession
Net Income from Operations
Profit from ordinary activities before tax
Profit from ordinary activities after tax
58
33
24
11
(69)
(43)
74
57
41
261
82
66
NAGAR Branch) Bhiwadi, Alwar, Rajasthan-301019 Rs. 10,70,831/- Total Comprehensive Income for the period [comprising
Chandra Prakash (Borrower) B o u n d a r i e s : E a s t : Plot No.60, (Rupees Ten Lakh Seventy 10-Sep-2020 profit/floss) for the period (after tax) and Other
Comrehensive income (after tax)) 24 (41) 41 67
Narmada Devi Nautiyal (Co- W e s t : Plot No. 58, N o r t h : Khasara Thousand Eight Hundred
Borrower) No. 432/119, S o u t h : Road 9 Mtr Thirty One Only.) Notes:
1. The financial results have been prepared in accordance with Ind AS as prescribed under section 133 of the
Authorised Officer, Companies Act, 2013 read with Rule 3 of the Companies (Indian accounting Standard rules, 2 0 1 5 and
Place: A l w a r Date: 16.09.2020
Aadhar Housing Finance L i m i t e d Companies (Indian Accounting Standards) Amendment Rules, 2016.
2. The above is an extract of the detailed format of audited Financial Results filed with the Stock Exchange under
Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format
GOVERNMENT OF JAMMU & KASHMIR of the unaudited financial results and the notes thereto are available at the website of the company

DIRECTORATE OF TOURISM, JAMMU. www.avonmorecapital.in and stock exchange website, i.e www.bseindia.com.

Tel. 0191-2548172. Fax.0191-2548358

MegaCo?p 3. The consoliated unaudited financial results (PAT) for the Quarter ended 30 June 2020 include figures pertaining
to three associates: M/s Premier Alcobev Pirivate Limited, M/s Almondz Insolvency Resolutions Services Private
Limited 6 Willis Towers Watson India Insurance Brokers Private Limited.
E-NITNo. 25 of 2020 Dated: 12/09/2020. MEGA CORPORATION LTD.
For and on behalf of the Board of
E-NIT INVITING BIDS FOR O U T S O U R C I N G CIN L65100DL1985PLC092375 Avonmore Capital & Management Services Ltd.
Regd.Office: G-155 (Basement), Kalkaji, New Delhi-110019
OF G A L E N CAFETERIA AT DODA. Ashok Kumar Gupta
Ph:+91 11 40531616
On behalf of Lieutenant Governor of Union Territory o f J&K, e-tenders Place: New Delhi Managing Director
email:info@megacorpltd.com, www.megacorpltd.com
are invited from registered I n d i v i d u a l s / F i r m s / H o t e l i e r s / C o m p a n i e s / Date: 15-Sep-2020 DIN:- 02590928
Agencies for outsourcing Galen Cafeteria at Doda for a period of 3 UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 3 0 t h JUNE 2020
years extendable another 2 years subject to satisfactory performance

AMD INDUSTRIES LIMITED

(Rs in Lakhs except per share data)
(as is w h e r e is basis) o f t h e Directorate of Tourism, J a m m u .
S. N o 1. N a m e of A s s e t : - Galen Cafeteria at Doda STANDALONE
M i n i m u m Franchise F e e . : - R s . 0.72/-lac annually. 18, Pusa Road, 1st Floor, Karol Bagh, New Delhi - 1 1 0 0 0 5
SI. Particulars Quarter Ended Year Ended
CIN-L28122DL1983PLC017141
Eligibility Criteria : - 1 . GST No. 2. PAN 3. 5 years experience in the No. (Unaudited) (Audited) (Unaudited) (Audited) Website : www.amdindustries.com,Email: investor@amdindustries.com
field of Managing /Operating, Cafeteria/Restaurant/Coffee shop/allied
30.06.2020 31.03.2020 30.06.2019 31.03.2020 31.03.2019 Extract of Standalone Unaudited Financial Results for the Quarter Ended 30th June, 2020
Infrastructure etc. 4. Character Certificate
Franchise Period : - 3 Years, extendable to another 2 years subject to Total Revenue from operations 73.52 81.16 59.52 270.41 219.75 (Rs in Lakhs)
(1)
satisfactory performance. Other Income 0 3.18 2.62 5.11 28.08 Particular Quarter Ended Year Ended
(")
Earnest M o n e y ( C D R / F D R ) : - Rs. 10,000/ ("I) Total Income 73.52 84.34 62.14 275.52 247.83 June 3 0 , March 31, June 30, March 31,
CostoftenderDocument.:- Rs.500/- (IV) Total Expenses 55.31 72.68 48.00 233.83 244.85 2020 2020 2019 2020
1. T h e bidding documents can be downloaded from the website - - - (Unaudited) (Audited) (Unaudited) (Audited)
http://iktenders.gov.in f r o m 12/09/2020 t o 03/10/2020 upto
(V) Exceptional item 40.91 40.91
(VI) Profit before tax 18.21 (29.25) 14.14 0.78 2.98 1. Total income from operations 2435.87 5,212.90 6,922.83 17,454.57
10.00 Hrs.
(VII) Total comprehensive Income for the period 18.21 (21.44) 14.14 8.59 11.56 2. Net Profit/(Loss) for the period (before tax and (84.84) (436.10) 670.36 113.67
No:DIP/j-4531/20 Sd/- Dy. Director Tourism, Exceptional items)
Dated: 14.09.2020 jammu. (VIII) Paid up Equity Capital (FV of Rs 1/- each) 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(IX) Earning per equity share 3. Net Profit/(Loss) for the period before tax (after (84.84) 43.37 670.36 593.14
Exceptional items)
(quarterely figures are not annualised)
Kotak Mahindra Bank Limited 4. Net Profit/(Loss) for the period after tax and (75.40) 63.79 663.77 518.16
$ kotak
•MiwwtnMil; e at 27BKC, C 27, G Block, Bandra Kuria Complex, Bandra (E), Mumbai - 400 051
h Office: 7th Floor, Ambadeep Building, 14 K.G. Marg, New Delhi-10001
(Face value of Rs. 1 each)
Basic (Rs.) 0.02 (0.02) 0.01 0.01 0.01
Exceptional items
5. Total Comprehensive Income for the period [Compria (73.70) 57.13 662.79 508.57
Diluted (Rs.) 0.02 (0.02) 0.01 0.01 0.01
DEMAND NOTICE ing Profit / (Loss) for the period (after tax) and Othe
NOTICE UNDER SECTION 13 (2) OF THE SECURITISATION AND RECONSTRUCTION Notes:- Comprehensive Income (afler tax)]
OF FINANCIAL ASSETS AND ANDENF
ENFORCEMENT OF SECURITY INTEREST ACT, 2002.
Notice is hereby given that the following borrower/ Co-borrowers, who have availed loan facilities from 1. The above unaudited financial results for the quarter ended 30th June,2020 have been reviewed by the Audit Committee and 6. Equity Share Capital 1916.67 1,916.67 1,916.67 1,916.67
KOTAK MAHINDRA BANK LIMITED (KMBL) having its branch office at 7th Floor, Ambadeep Building, taken on record by the Board of Directors of the Company at their respective meetings held on September 15, 2020. The
14 KG Marg, Cannaught Place, New Delhi -110001, have failed to serve the interest of their credit 7 Earnings per share of Rs 10 each
Statutory Auditors have reviewed these financial results pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure
facilities to KMBL and that their loan accounts has been classified as NPAas per the guidelines issued
by Reserve Bankof India. The Borrowers have provided security ofthe immovable properties to KMBL,
Requirements) Regulations, 2015, as amended. (SEBI)(LODR). (a) Basic (Rs) (0.39) 0.33 3.46 2.70
the details of which are described herein below. The details of the Ivan and the amounts outstanding 2. This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS)
and payable bythe borrowers to KMBLas on date 10.09.2020 are mentioned below. prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the (b) Diluted (Rs) (0.39) 0.33 3.46 2.70
The borrowers/ Co-Bonewers as well as the public in general are hereby informed that the undersigned
being the Authorized Officer of KMBL, the secured creditor has initiated action against the following
extent applicable. Notes:
borrower/Co-Borrowers under the provisions of the Securitization and Reconstruction of Financial 3. The COVID-19 outbreak has caused significant disturbances and slowdown of economic activity. The Company has considered 1. The above unaudited financial results were, subjected to limited review by the Statutory Auditors of the
Assets and enforcement of Security Interest Act, 2002( the SARFAESI Act.), if the following borrowers the possible impact of COVID-19 in preparation of these financial results. The Company has evaluated the all possible effects of Company, reviewed by the Audit Committee and approved by the Board of Directors at its meeting held
tail to repay the outstanding dues indicated against their names within 60 (Sixty) days of this notice, the
likely adverse impact on the operation of the Company due to COVID-19 out break and does not expect any Uncertainty in on 14th September 2020.The review report of the Statutory Auditors is being filed with the Bombay Stock
undersigned will exereise any one or more of the power conferred on the Secured Creditor under sub
section (2) of Section 13 of the SARFAESI Act. Including powerto take possession ofthe properties and meeting the financial obligations over the foreseeable future. The impact of this pandemic may be different as estimated as at the Exchange and National Stock Exchange of India.
sell the same. The public in general is advised not to deal with property described here below. date of approval of these financial results and Company will monitor any material changed to future economic conditions, if 2. The above is an extract of the detailed format of the unaudited financial results for the quarter ended
.pandemic situation persist in near future. June 30, 2020, filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and
Name of the Borrowers I Proprietor Guarantor 4 Mortgagor
4. The figures for the quarter ended March 31,2020 are the balancing figures between audited figures in respect of the full financial Disclosure Requirements) Regulations, 2015. The full format of the unaudited financial results for the quar-
Ram Phal Yadav, (Borrower), Raj Bala, (Co-Borrower), DharmenderYadav, (Co-Borrower), all
are resident of: House No-12 Near Gurudwara Sector-22a, Molahera 65 Nr Palam Road Farrukhnagar, year ended March 31,2020 and unaudited year to date published figures up to the third quarter ended December 31,2019. ter ended June 30, 2020 along with audit report of the Statutory Auditors is available under Investors
Gurgaon-122015Also at:- Plot No. 34p Sector-23-23a, Gurgaon-122017 5. ProvisionforTaxations Deferred tax adjustment will be considered at the end of the year. section of our website at www.amdindustries.com and under Financial Results at Corporate section of
Detail of Secured Asset (Immovable Property) Loan Account No. Demand Noece Date, and Amount www.bseindia.com and www.nseindia.com.
6. Previous period's figures have been regrouped I reclassified, wherever considered necessary to make them comparable.
All that part and parcel of the property consisting o f : Loan Account No. OD-4011571931, Demand
PLOT NO. 34P SECTOR-23-23A, GURGAON-122017, Notice Date: 10/0912020, Outstanding Amount: For Mega Corporation Limited By Order of the Board
Norih:-as per site, East:- as per site, South:- as per site, Sd /-
Rs. 43,03,060/- (Rupees Forty Three For A M D Industries Limited
West:-as per site
Lakh Three Thousand and Sixty Only) Surendra Chhalani
NPA DATE: 30TH June, 2020
Date: 15.09.2020 (Director & CFO) Place : New Delhi Adit Gupta
Date: 1S/09/2020, Place: New Delhi FOR KOTAK MAHINDRA BANK LIMITED, AUTHORISED OFFICER Place: New Delhi DIN:00002747 Date : 14® September, 2020 Managing Director

SITI NETWORKS LIMITED

Regd. Office: Unit No. 38,1 st Floor, Madhu Industrial Estate, Pandurang Budhkar Marg, Worli, Mumbai 400013
Tel.: +91 22 43605555 Email:-csandleqal@siti.esselqroup.com CIN:- L64200MH2006PLC160733 Website: www.sitinetworks.com

EXTRACT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND THREE MONTHS ENDED JUNE 30,2020 (? in lacs)
Consolidated Financial Results Standalone Financial Results
Quarter Quarter ended Quarter Financial Quarter Quarter ended Quarter Financial
Particulars ended 31.032020 ended Year ended ended 31.032020 ended Year ended
30.06.2020 (Audited)* 30.06.2019 31.03.2020 30.06.2020 (Audited)* 30.06.2019 31.03.2020
(Unaudited) Refer note 4 (Unaudited) (Audited) (Unaudited) Refer note 4 (Unaudited) (Audited)

Total Income from Operations 37,731.1 40,829.3 39,191.9 1,61,858.5 18,135.8 20,356.1 19,858.9 81,893.9

Net Profit / (Loss) for the period (before Tax, Exceptional and/or Extraordinary items) (4,594.0) (3,756.6) (4,246.9) (14,560.6) (4,670.6) (3,575.2) (5,238.2) (15,659.2)

Net Profit / (Loss) for the period before Tax (after Exceptional and/or Extraordinary items) (4,483.1) (6,851.0) (6,167.6) (19,474.8) (4,670.6) (6,375.5) (5,238.2) (18,459.5)

Net Profit / (Loss) for the period after Tax (after Exceptional and/or Extraordinary items) (4,581.6) (7,029.9) (4,948.7) (18,816.7) (4,670.6) (6,445.4) (5,238.2) (18,937.0)

Total Comprehensive Income for the period (Comprising Profit/(Loss) for the period (after Tax) (4,611.2) (7,143.5) (4,954.4) (18,947.8) (4,688.8) (6,506.7) (5,242.0) (19,009.6)

and other Comprehensive Income (after Tax)

Paid Up Equity Share Capital (Face value of Re.1/- per share) 8,720.5 8,720.5 8,720.5 8,720.5 8,720.5 8,720.5 8,720.5 8,720.5

Earning Per Share (before Extraordinary Items) (of Rs.1/- each) Basic and Diluted (Rs) (not annualised) (0.5) (0.8) (0.6) (2.2) (0.5) (0.7) (0.6) (2.2)

Earning Per Share (after Extraordinary Items) (of Rs.1/- each) Basic and Diluted (Rs) (not annualised) (0.5) (0.8) (0.6) (2.2) (0.5) (0.7) (0.6) (2.2)

1. T h e above financial results have been reveiwed by the Audit Committee and approved by the Board of Directors at their respective meetings held on September 15, 2 0 2 0 and have undergone 'Limited Review' by the
Statutory Auditors of the Company.
2. T h e above Financial Results for the first quarter and three months period ended on June 3 0 , 2 0 2 0 has been prepared in accordance with Indian Accounting Standards (Ind A S , the provisions of the Companies Act, 2 0 1 3
(the Act), a s applicable a n d guidelines issued by the Securities and Exchange Board of India (SEBI).
3. T h e above is an extract of the detailed format of Un-Audited Financial Results for the first quarter a n d three months period ended on June 3 0 , 2 0 2 0 filed by the Company with the Stock Exchanges under Regulation
3 3 of the SEBI (Listing a n d Other Disclosure requirements) Regulations, 2 0 1 5 . T h e full format of the Un-Audited Financial Results for the first quarter and three months period ended on June 3 0 , 2 0 2 0 a r e available
on the Stock Exchanges website i.e. www.bseindia.com a n d www.nseindia.com and also on the Company's website www.sitinetworks.com.
4. Figures for the standalone and consolidated financial results for the quarter ended March 3 1 , 2 0 2 0 are the balancing figures of the full financial year ended March 3 1 , 2 0 2 0 a n d the published year to date figures upto
the third quarter of the year ended March 3 1 , 2 0 2 0 .
5. For the quarter ended June 3 0 , 2 0 2 0 , June 3 0 , 2 0 1 9 a n d March 3 1 , 2 0 2 0 a n d y e a r ended March 3 1 , 2 0 2 0 , the 'Subscription income' included in the 'Revenue from operations' in these financial results, inter alia,
includes the amounts payable to the broadcasters towards their share in relation to the pay channels subscribed by the customers. T h e aforementioned corresponding amounts (i.e Broadcaster's share) has also been
presented a s an expense in these financial results. T h e said amounts are ? 9,316.9 lacs, ? 9,037.0 lacs, ? 9 , 5 1 5 . 5 lacs and ? 3 9 , 0 2 3 . 8 lacs for quarter ended June 3 0 , 2 0 2 0 , June 3 0 , 2 0 1 9 and March 3 1 , 2 0 2 0 and
year ended March 3 1 , 2 0 2 0 respectively in the standalone financial results and ? 19,093.1 lacs, ? 18,103.8 lacs, ? 19,340.7 lacs a n d f 77,575.4 lacs for quarter ended June 3 0 , 2 0 2 0 , June 3 0 , 2 0 1 9 and March 3 1 ,
2 0 2 0 and year ended March 31, 2 0 2 0 respectively in the consolidated financial results.Had these expenses been disclosed on net basis, the 'Revenue from operations' and the 'Pay channel, carriage sharing and related
costs' each would have been lower by ? 9,316.9 lacs, ? 9,037.0 lacs, ? 9,515.5 lacs and ? 39,023.8 lacs for quarter ended June 30, 2020, June 3 0 , 2 0 1 9 and March 31, 2 0 2 0 and year ended March 3 1 , 2 0 2 0 respectively
in the standalone financial results and ? 19,093.1 lacs, ? 1 8 , 1 0 3 . 8 lacs, ? 1 9 , 3 4 0 . 7 lacs and ? 7 7 , 5 7 5 . 4 lacs for quarter ended June 3 0 , 2 0 2 0 , June 3 0 , 2 0 1 9 a n d March 3 1 , 2 0 2 0 a n d year ended March 3 1 , 2 0 2 0
respectively in the consolidated financial results. Flowever, there would not have been a n y impact on the net loss for the respective quarters a n d year ended in both the standalone a n d consolidated financial results.
T h e management is in process of evaluating the aforesaid presentation in light of generally accepted accounting principles, including Ind A S - 1 1 5 , ' R e v e n u e from contracts with customers' a n d industry practices.
6. Due to the aforementioned nationwide lockdown causing local disturbances, the management of two subsidiary companies were unable to complete the limited review process within the prescribed timelines. As a result,
the Statement includes total revenues of Y 1,735.8 lakhs, total net loss after tax of ? 6.8 lakhs, and total comprehensive income of ? (6.8) lakhs for the quarter ended 3 0 June 2 0 2 0 relating to these two subsidiaries, which
have not been subjected to review by their auditors a n d a r e based on the financial results prepared by their management. F o r Siti N e t w o r k s Limited
Sd/-
Suresh Arora
Place : Noida Whole Time Director
Date : September 15, 2020 (DIN -00299232)
18
>
NEW DELHI | WEDNESDAY, 16 SEPTEMBER 2020 1

India’s Covid-19
‘China doesn’t accept customary cases surge to
alignment of the boundary’ almost 5 million
Defence Minister Rajnath Singh describes Sino-Indian border crisis to Parliament
AJAI SHUKLA guard its security interests.
New Delhi, 15 September Choosing not to get into details, Rajnath
stated: “There are sensitive operational issues

S
eeking to portray a strong government
in control of a major national security
challenge, Defence Minister Rajnath
Singh today made a statement in Parliament
on China’s incursions across the Line of
Actual Control (LAC), vowing to react force-
fully to any threat to India’s sovereignty and
territorial integrity.
“I want to inform this august House, and
through it the entire nation, that we are pre-
pared for all outcomes to ensure that India's
sovereignty is maintained,” he said.
The statement, which traced the history
of the boundary dispute from the 1950s to the
present, was the government’s response to
the opposition parties’ demand for a discus-
sion on how troops of the People’s Liberation
Army (PLA) were allowed to trespass into
Indian territory.
While the government agreed to issue a
detailed statement, it did not accept the
opposition’s demand for a full discussion on
the ongoing crisis.
Rather than fielding Prime Minister
Narendra Modi, who has earlier denied any
violations of the LAC or PLA transgressions
into India, or Home Minister Amit Shah, who
was admitted into hospital on Saturday night,
the government put forward the defence
minister who took the safe, nationalist path
by appealing to the opposition and the coun-
try to stand by the brave soldiers. “Ham apne
jawaanon ke saath kadam se kadam mila kar
challenge (We will support our soldiers,
marching in lockstep with them),” he said.
Recounting the crisis, he said that since
April, it became apparent that the PLA was
on the Eastern Ladakh border in larger
numbers and with extra armaments. In
early May, the PLA began interdicting
India’s traditional patrolling patterns in
the Galwan Valley. China also attempted
around the current situation, so I cannot
reveal too many details, even if I wanted to.”
Seeking to simplify a complex dispute,
Rajnath presented to Parliament a detailed
summary of the unresolved boundary ques-
tion. He said China had usurped 38,000 sq
km of Indian territory in Ladakh, while in
1963, Pakistan gifted China with 5,180 sq
km of territory in Pakistan Occupied
Kashmir (POK). He said China also claims
90,000 sq km of Indian territory in
Arunachal Pradesh.
“China does not accept the customary
and traditional alignment of the bound-
ary,” he said.
Rajnath said the two countries had agreed SHARP RISE
that the boundary dispute was a complex „New cases (LHS) Deaths (RHS)
issue that required patience and that a “fair,
‘There is no commonly delineated LAC along the border,’ Rajnath Singh said PTI reasonable and mutually acceptable solu-
tion needed to be arrived at through peace-
LAC transgressions at several other places, bravery,” he said. “We want to resolve the ful dialogue,” with an atmosphere of “peace
including Kongka La, Gogra and the north current situation through dialogue and we and tranquility” on the border.
bank of the Pangong Lake. have ongoing diplomatic and He said “there is no commonly delineat-
Avoiding any mention of military engagement with the ed LAC along the border” and that both
Referring to the
Chinese occupation of Indi- Chinese.” countries had differing perceptions about
clash of June 15,
an-claimed territory, the defe- He spelt out three where the LAC ran. Attempts were made
in which 20
nce minister said, “Our troops principles that he said guid- from 1990 to 2003 to arrive at a common
Indian soldiers
observed these attempts and ed the Indian side in discus- understanding of the LAC but then China
died, the defence
took counter measures.” sions. First, both sides must decided to discontinue this. Consequently,
minister cloaked
“We have informed China respect the LAC; second, nei- there are overlapping perceptions of the LAC
the actual events
through diplomatic and mili- ther side must disturb the in several places.
in nationalist
tary channels that such activ- status quo; and third, both Both New Delhi and Beijing have blamed
rhetoric
ities constitute a unilateral sides must adhere to the successive boundary confrontations on these
attempt to change the status agreements and underst- “overlapping perceptions” of the LAC, which
quo, which is on no account acceptable to anding arrived at over the years. require patrols from both sides to cross into
India,” he added. At present, the Chinese have territory claimed by the other. Deaths
Referring to the clash of June 15, in which mobilised in large numbers along the The government's statement comes at a ONLY ONE- 1.64%
20 Indian soldiers died, the defence minister LAC and there are many “friction areas” time of stepped up tension in Eastern (80,776)
cloaked the actual events in nationalist rhet- in the areas of Kongka La, Gogra and the Ladakh, with Indian and Chinese troops con- FIFTH (20%)
oric. “Where there was a need for patience, north and south banks of Pangong Lake.
our soldiers displayed patience and where India, he said, has implemented a “count-
fronting each other directly as they occupy
tactically advantageous heights to the south
OF TOTAL CASES Active Recovered
there was a need for bravery, they displayed er deployment” in these areas to safe- of Pangong Lake. ARE ACTIVE 20.08% 78.28%
(9,90,061) (38,59,399)
Note: Figures in bracket represent actual numbers

Data collectors: How & what they track

RUCHIKA CHITRAVANSHI has been rising in Maharashtra,
New Delhi 15 September Karnataka and Uttar Pradesh, while
there are initial signs of a decline in

W
ith the number of coron- Tamil Nadu and Andhra Pradesh.
avirus cases touching These are the top five states with the
Anonymised data, picked up in several ways, cater to large complex markets nearly five million and highest Covid-19 caseload.
deaths crossing 80,000, India is The test positivity of cases is high-
DEVANGSHU DATTA data. It is also available if Bluetooth is swit- Stunning insights occur when artificial closing the gap with the US, which est in Maharashtra, with 21.5 per cent
New Delhi, 15 September ched on. In current android systems, location intelligence (AI) searches for patterns in has over 6.5 million cases, the high- of patients testing positive against a
data is also logged if you search for open those data mountains. A lot of digital mar- est in the world. national average of 8.4 per cent. “If, in

A
recent series of investigative reports
alleges that Chinese analytics com-
pany, Zhenhua Data Information
Technology, has collected data on 10,000
Indians, among them several prominent
personalities. Now how does one collect and
analyse data of this nature? Well, much of
this data is public, or semi-public.
Any 21st century individual spews data
continuously. Also note that while the
Supreme Court of India affirmed, back in
2017, that privacy is a fundamental right,
India has no personal data privacy law.
Moreover, the proposed legislation gives the
government a free hand to collect whatever
data it chooses, so the Bill will offer zero pro-
tection anyhow against government sur-
veillance, if it is passed.
Most people have social media profiles,
with accounts on Facebook, Instagram,
WhatsApp, Twitter, TikTok, YouTube and so
on. We also have public email ids, very often
hosted on Gmail and associated with Google
accounts. In addition, people keep blogs, or
maintain personal, or professional websites.
Many people also have profiles on LinkedIn
and similar professional sites. Some of us
are signed up for gig sites like Upwork and
We Work Remotely. Academics have cita-
tions and references to their papers and their
university affiliations visible online.
Much of this data can be collected easily
and legally. The “collector” gets a good pic-
ture of the subjects’ work profiles, econom-
ic strata, educational backgrounds, tastes in
entertainment, friends’ circles, political con-
cerns, social attitudes, and so on.
Locational data is also useful. This is not
considered private data under the proposed
Indian personal data privacy law. Many busi-
nesses are built upon location — food-deliv-
ery services and taxi-hailing services, for
instance.
Your handset has a unique International
Mobile Equipment Identity (IMEI), or two
IMEIs, if it’s dual-sim. So that specific hand-
set can be tracked along with the sim, which
is also unique. (IMEI and sims can be cloned
and spoofed but this is neither common
nor legal).
If your cellphone is switched on, it con-
nects to the nearest tower. Your telecom serv-
ice provider knows your “coarse” location,
24x7. If you keep GPS switched on, your exact
location is known. Aarogya Setu uses this
WiFi networks, so leaving WiFi on also gives keting involves using big data of this sort India took six months to reach spite of large-scale testing, a state is
away location. In addition, hardware bea- for micro-targeting. Netflix, YouTube and the first million Covid-19 cases, but seeing higher positivity, then it needs
cons in malls, and radio-frequency identifi- Amazon use algorithms to suggest the next has gone from four to 4.9 million in to ramp up testing further,” Rajesh
cation, or RFID, smart cards (such as Metro or video to watch, or the next movie, or the 11 days. Bhushan, health secretary, said.
toll cards) offer location data. Ad servers also next book. Google targets ads according to Meanwhile, the race for the Covid- As on Tuesday, 3.69 per cent
know the locations of where they served ads. the patterns it picks up, looking at email, 19 vaccine is also gather- patients were on oxygen
This data can be picked up several ways. searches etcetera. ing pace. The government support, 2.17 per cent
There are large complex markets Back in 2012, US retailer Targ- Amongst three ongo- is expected were in the ICU and 0.36
for anonymised data. While the et set off a huge row when it con- ing clinical trials for the to release the per cent were on ventila-
Anonymised data can, with the Supreme Court gratulated a customer on the vaccine in India, Zydus results of the tors, according to the
help of a little additional infor- of India impending birth of her child, on Cadila and Bharat second national health ministry.
mation, often be de-anonymised affirmed, back in the basis of search and buy pat- Biotech have completed serosurvey “There is no shortage
and tagged to specific persons. 2017, that privacy terns. The customer was a minor recruitments for phase conducted across of oxygen in the country.
Many handsets also have is a fundamental who had bought items, which the two trial, while Serum 70 districts by We have a headroom of
“cloud backup” services offered right, India has store’s data crunching indicated Institute is expecting the end of this about 1,900 metric tonnes
by the manufacturer — that no personal data are usually bought by expecting clearance to start phase month daily extra capacity. States
cloud server may be logging privacy law women, and whose parents did- three trial across 14 sites have to ensure proper
location. Many apps also ask for, n’t know about her pregnancy! on 1,500 individuals. inventory management in hospitals
and log location — Uber and Zomato are A more recent example is a data analyt- “Serum has done its phase II-b tri- so that they can alert whenever there
obvious examples. It is likely several apps ics that found common elements in the al on the first 100 patients. They is a shortage,” said Bhushan. He was
you’re using log location data – check your colour palettes of pictures posted by paused it for a week and want to start responding to a question on short-
permissions. If location data is overlaid on a depressed, suicidal people. the third phase soon,” Balram Bhar- age of oxygen in hospitals with the
digital map and tied to other information, we The extent and specificity of the data gava, director general of the Indian rising number of Covid-19 cases.
can make very accurate guesses as to what that can be mined is mind boggling. Let’s say Council of Medical Research, said. On whether India will authorise
the user is doing 24x7. you use your credit card in Thiruvanantha- One-fifth of the total cases are emergency use of vaccine, Bhushan
In addition, there’s transaction data. Your puram to order chilly beef fry. Since the bill active in India, according to the said that such provisions are there
credit card/ debit card services are (we hope) is itemised, dogged data collectors can also health ministry, with 3, 573 cases per in the regulatory framework of the
secure, along with net banking services. But access what, and not just where, you ate. million people. The government is country and provide for accelerated
if you use e-commerce, the e-commerce site Now imagine how vulnerable you’d feel trav- expected to release the results of the permissions, which is distinct from
or app also logs card details and stores that elling to a cow-vigilante area after that, if second national serosurvey con- market authorisation. “No one
specific transaction. If the “collector” has some smart data analytics program might be ducted across 70 districts by the end has applied for emergency authori-
access to that app, it has access to some of picking up on your diet. This is the kind of of this month. sation for the vaccine yet,” Bhushan
your card and transaction data, too. fear a malicious data collector could unleash. The daily average of new cases added.

76 Days revisits Wuhan to tell the story from ground zero

Film focuses on personal stories instead of taking an investigative route, following patients and staff in four different hospitals
INDIRA KANNAN personal mission to showcase what
Toronto, 15 September some of the earliest victims of
Covid-19 had gone through.
76 Daysfocuses on personal
it's not just that you get the news of standpoint?”
what happened today, but you’re A rare political reference comes
able to see what happens over a in a scene Hao says was included

I
t’s clear from the first shot that
the cameras of 76 Days were
going where few had gone
before. The documentary film,
which had its world premiere at
the Toronto International Film
Festival, or TIFF, opens with a
hospital worker in Wuhan, China,
who is distraught at being unable
to say a final goodbye to her father
even as her colleagues hold her
back. Similar moments of raw
grief, compassion and courage are
captured in beautifully framed,
intimate close-ups, providing a
window into the chaos that
prevailed in the hospitals of
Wuhan, considered Ground Zero
of the Covid-19 pandemic, early
this year.
“The one thing I think the film
does exceptionally well is pacing,
grabbing you by the lapels and
never letting go,” said Thom
Powers, programmer of
documentaries at TIFF.
The title of the film is taken from
the duration of the lockdown in
Wuhan. Director Hao Wu, a
Chinese-American filmmaker
A still from the documentary that had its world premiere at the Toronto International Film Festival
based in New York, sourced his
footage from two video reporters in
Wuhan, credited as co-directors;
one of them is not identified. Apart
from the two worst-hit hospitals in
Wuhan, which were off limits to
reporters without official
permission, others often made
their own rules, said Hao. “At the
very beginning of the lockdown,
many of the hospitals actually
wanted reporters to take photos
and videos because they wanted
the outside world to know what
they’re doing, especially as there
was a severe shortage of PPE
(personal protective equipment).
They wanted other people to know
what kind of challenges they had so
they could get help from
elsewhere,” he explained.
Hao was in Shanghai visiting
family when Wuhan’s lockdown
began on January 23, 2020. He flew
back to New York, angry about the
panic and confusion he had
witnessed and experienced first
hand, returning just before the US
closed off air traffic from China.
The documentary became a
stories from Wuhan instead of
taking an investigative route,
following patients and
staff in four different
hospitals. There’s the
grouchy old man who
insists he’s well enough
to go home but is later
sorry to leave, and a
young couple who have
just had their first baby
but are unable to see
her for many days as
they are quarantined.
The staff have to deal
with desperate patients
pleading to be admitted
in a hospital short of
76 Days
beds, unclear Directors: Hao Wu,
treatment protocols Weixi Chen,
and risks to their own Anonymous
health. World Premiere: TIFF
There has been no
shortage of news
reports about the pandemic, but
the documentary format serves an
important purpose. “By covering
the 76 days of Wuhan’s lockdown
and turning that into a narrative,
period of time and how it changes
people,” Powers said.
Hao found his video pipeline
shut off in late March
when the Chinese
government
“tightened its control
over any Covid
narrative”. He then
started editing the film,
himself under
lockdown in Atlanta.
Concerns about official
control and influence
over any news coming
out of China are
inevitable, but Hao
wanted to steer clear of
politics: “It was really
hard to get any official
answer or to have any
sort of countdown,
what truly happened.
So in the end, I decided
not to pursue that angle
because otherwise I'm going to be
doing hearsay, right? I can
interview this person who says this
thing happens, but how can I even
confirm that from a journalistic
for the sake of humour. The
grouchy old man is scolded by his
son, who reminds his father that he
is a “Party member” and should,
therefore, uphold the Party’s high
standards and cooperate with the
hospital staff. This may be just an
innocuous comment by a
concerned son rather than a
subliminal reminder that China’s
Communist Party members are
exemplary citizens.
But it is China’s relentless
official propaganda, carried to
absurd lengths by its state-run
media, that often colours any
information outflow from the
country. Even now, the world
knows less about the outbreak and
spread of Covid-19 within China
than anywhere else.
This documentary is an attempt
to fill some of those blanks. It
ends as powerfully as it opens,
again with a hospital worker
dealing with grief, but this time that
of others, as the nurse makes a
series of calls and hands over the
effects of deceased patients to their
heartbroken relatives.