THE MARKETS ON FRIDAY chg#

SATURDAY, 26 SEPTEMBER 2020 l NEW DELHI ~10.00

VOLUME VIII NUMBER 8 l 18 pages in 1 section
Sensex 37,388.7 p 835.1
Nifty 11050.3 p 244.7
Nifty Futures* 11,042.2 q 8.0 WORLD P8 COMPANIES P2
Dollar
Euro
Brent crude ($/bbl)
~73.6
~85.8
41.1##
~73.9 **
~86.2 **
41.1 **
US TO SPEND $150 MN TO TRAIN HARLEY-DAVIDSON DEALERS,
Gold (10 gm)### ~49,646.0 p
*(Sep.) Discount on Nifty Spot; **Previous close;
# Over previous close; ## At 9 pm IST;
~23.0
STUDENTS FOR H-1B JOBS OWNERS LEFT IN THE LURCH
### Market rate exclusive of VAT; Source: IBJA P U B L I S HE D S I MU L T A N E O U S L 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

A good Friday for

GLOBAL COVID
VIRUS
TRACKER DEATHS NEAR
1-MN MARK Voda wins arbitration in
Total 5,818,570
INDIA
é86,052
~20,000-crore tax case stock markets
Active cases Recovered Deaths Benchmark indices jump 2.3%, most since June 1,
970,116 4,756,164 92,290 Govt says it will consider all options, including legal remedies day after they witnessed worst fall in 4 months
é3,734 é81,177 é1,141
SHRIMI CHOUDHARY, ANEESH PHADNIS & INDIVJAL DHASMANA

WORLD Total
Note: Total cases
include 1 migration;
New Delhi/Mumbai/New Delhi, 25 September SUNDAR SETHURAMAN
Thiruvananthapuram, 25 September
RUN OF
32,284,038
figures as of 9 pm IST;
THE BULL
T
Sources: Ministry of he Permanent Court of Arbitration at the
Health and Family
Welfare, Johns Hague has upheld the plea of the Vodafone The Indian stock markets rebounded on Friday
Deaths Hopkins Coronavirus
group in its long-pending case against the as investors lapped up beaten-down stocks on NSE NIFTY50
983,952
Resource Centre
Note: Arrow shows Income Tax Department’s demand for hopes of a stimulus announcement. During the
one-day change
~20,000 crore for acquiring Hutchison Whampoa’s stake
in what was Hutchison-Essar in 2007 through an over-
market hours, reports emerged that the govern-
ment was planning to unleash a big fiscal stimu-
11,050.3
SCIENTISTS FIND TURNING POINT SEP 25
IN SEVERE COVID CASES P8 seas deal. Experts say the order may benefit other tax lus to revive the economy and create jobs. Also,
disputes that are in arbitration such as those of Cairn global investor sentiment was positive after US
and Vedanta. Representatives started drafting a new stimulus
“The Respondent’s (India’s) conduct in respect of bill, which included $2.4 trillion of spending.
RBI DEVOLVES 10-YR the imposition on the Claimant (Vodafone) of an
asserted liability to tax notwith-
However, doubts remained whether the bill
would have the Senate's backing.
BOND SALE FOR 4TH HOPE RALLY standing the Supreme Court TAX BATTLE The Sensex closed at 37,389 with a gain of 835
10,805.6
2.3%
judgement is in breach of the points, or 2.3 per cent — the most since June 1,
TIME IN A ROW Vodafone Idea
Price in ~ guarantee of fair and equitable 2007: Vodafone gets tax can’t be levied 2014: Vodafone while the Nifty50 jumped 245 points to reclaim SEP 24
The Reserve Bank of India (RBI) refused to treatment laid down in Article on the deal serves arbitration the 11,000 mark. On Thursday, the benchmark
sell 10-year bonds at Friday’s primary 4(1) of the agreement (for pro-
tax notice after
indices had crashed more than 3 per cent in their
TOP GAINERS
13.6% buying Hutchison’s Govt comes out with notice under India-
auction for the fourth time in a row. This motion and protection of worst setback in four months. As on Sep 25 Price in ~ Chg(%)*
India assets retrospective Netherlands BIPA
comes a day after it scrapped a bond investments), as is the imposi- According to reports, the Narendra Modi gov- Bajaj Finserv 5,803.3 7.0
purchase programme from the secondary tion of interest on the sums in Moves Bombay HC to amendments after I-T dept ernment is just weeks away
allowing such deals withdraws BUY CYCLICAL IndusInd Bank 514.9 5.0
market even though it received more question and the imposition of challenge the notice STOCKS WHEN from announcing another
penalties for non-payment of to be taxed conciliation offer HCL Technologies 827.7 5.0
than six times the bid for its ~10,000-crore
2008: Bombay HC MKT CORRECTS: round of stimulus measures
open market operation (OMO). The central the sums in question,” said the ahead of the festive season.
bank did not want to sell the 10-year order by the panel, accessed by dismisses petition 2013: Vodafone gets 2016: Vodafone CHRIS WOOD
The package might include
Cipla 770.1 5.0
~14,200-crore tax receives a ~22,100- PAGE 10 Bharti Airtel 439.7 4.9
bonds at the market ask on Friday, like Business Standard. an urban jobs scheme and
the previous three times. 5> The order further said
2010: Vodafone demand crore tax demand infrastructure initiatives.
Vodafone was entitled to fair
moves SC against (including interest) “The equity markets recovered quite a bit of SECTORAL PERFORMANCE
Cabinet approves
and equitable treatment in HC decision lost ground. Expectations of another fiscal pack-
Source: Bloomberg non-binding 2020: Vodafone wins As on Sep 25 Close Chg(%)*
COMPANIES P2 respect of its investment in age from the government ahead of the festival
2012: SC verdict says conciliation the arbitration case Nifty IT 19,629 3.5
ED attaches Rana Kapoor’s mobile telecommunication in India in line with the
bilateral investment treaty (BIT). Any failure to comply
season is a factor that may endow the markets
with some strength,” said Joseph Thomas, head Nifty Media 1,485 3.4
~127-crore London flat
The Enforcement Directorate (ED) has
with this by India will engage with its international
responsibility, it said. The panel also asked India to pay VODA PLC MAY Vodafone Group Plc’s victory in the
arbitration case will boost investor
of research at Emkay Wealth Management.
In the previous six sessions, the benchmark
Nifty Auto 7,670
Nifty Infrastructure 3,050
3.4
3.0
attached a ~127-crore flat of YES Bank
co-founder Rana Kapoor in London as part of
£4.32 million as 60 per cent cost that Vodafone bore for
legal representation and 3,000 euros as 50 per cent fee NOT CHANGE sentiment, but it is unlikely to change
its stance on investments in its Indian
indices had dropped nearly 7 per cent.
Market players said Friday’s gains were Nifty Metal 2,173 2.9
a money laundering investigation against
him and others, the central agency said on
the company paid the appointing authority.
The Income Tax Department had demanded ~7,990 STANCE ON joint venture, Vodafone Idea, believe
analysts. Vodafone Plc owns about
spurred by short-covering after the six straight
days of losses. “The market had moved one-sided
BSE M-CAP ~trn
Friday. The ED had earlier attached his assets crore in capital gains taxes in 2007, and it rose to ~22,100
INVESTMENT 45RAMperPRASAD
cent in the telecom venture. in the last few days. The latest gain is more of a 148.76 152.28
in the US, Dubai and Australia . crore after including interest and penalty by 2016. SAHU writes 3 > short-covering-based rally,” said Abhimanyu SEP 24 SEP 25 3.52%
Turn to Page 13 > Sofat, head of research, IIFL. Turn to Page 13 > *one-day change Source: Bloomberg

ON
SPECIALS
SATURDAY S&P affirms India’s ‘BBB-’ BIHAR POLLS FROM Govt plans
OCT 28, IN 3 PHASES floor price
WEEKEND RUMINATIONS
Not so simple 9> rating, says outlook stable Voting for the Bihar assembly

for domestic
elections will be held in
The farmer should be free to sell to whoever
ABHIJIT LELE Economic activity in India is three phases on October 28,
he chooses, wherever he chooses,
whenever he chooses. But what freedom
Mumbai, 25 September WHAT OTHER expected to begin to normalise in November 3 and November 7
RATING
natural gas
FY22, resulting in real gross domestic in one of the biggest
does a small farmer really have when up
Amid the sharp economic contrac- product (GDP) growth of about 10 per elections globally during Covid-19,
against large food processors or retail chains
tion, rating agency Standard and AGENCIES cent. A significant proportion of this followed by the counting of votes on
that buy in bulk? T N NINAN writes ARE SAYING
Poor’s (S&P) on Friday affirmed rebound will be due to the very weak November 10, the Election Commission
NATIONAL INTEREST
India’s sovereign long-term rating at JUNE 2020 base in the current fiscal year. said on Friday. The ruling NDA government Relief for producers amid
“BBB-”, reflecting above-average, The Indian economy’s long-term will face a challenge from the
Modi’s twin test 9> long-term economic growth, a sound MOODY’S outperformance highlights its his- RJD-Congress alliance. 13 > falling prices, demand
external profile, and evolving mone- | Cut long-term rating from torical resilience. The country’s
If Modi is a true reformer, he’ll bury the
Vodafone tax ghost for good and go to tary settings. ‘Baa2’ to ‘Baa3’ wide range of structural trends,
Bihar and campaign on his latest,
politically controversial farm and labour
However, it also flagged vulner-
abilities owing to weak fiscal con-
| Maintained Negative outlook including healthy demographics
and competitive unit labour costs,
DHFL USED SOFTWARE
FITCH RATINGS
reforms. SHEKHAR GUPTA writes ditions, including consistently
elevated general government defi- | Retained ‘BBB-‘ rating, the
works in its favour.
These strengths will be chal-
TO HIDE FRAUD: PROBE
cits and indebtedness, and low per lowest investment grade lenged by the spread of the pan- Bankrupt housing finance company Dewan
ECONOMY & PUBLIC AFFAIRS P5 capita income. demic, financial and corporate weak- Housing Finance Corporation (DHFL) had
| Revised outlook from “Stable”
Faceless income tax The outlook on the long-term rat-
ing is stable. This reflects the view to “negative”
nesses, and a prolonged decline in
investment, it added.
used different loan accounting software to
hide fraudulent transactions from fictitious
appeal system goes live that India’s contraction in FY21 will The country’s weak fiscal settings borrowers, said the forensic report by Grant
All appeals up to the level of commissioner of be followed by a significant recov- In June 2020, S&P had retained will worsen further this year, con- Thornton. It said the software helped the
income tax (Appeals) — except for those ery, which will stabilise the coun- India's sovereign rating at ‘BBB-’ straining the government. At the company hide the transactions from
relating to serious fraud, major tax evasion, try’s broader credit profile, S&P said with a stable outlook, saying that same time, its external settings have regulators and auditors and show inflated SHINE JACOB
sensitive search matters, and black money — in a statement. while risks to growth were rising, the improved, helped by the central income to the stock exchanges. The report New Delhi, 25 September
went faceless from Friday. This is the first level It also affirmed “A-3” short-term economy and fiscal position would bank’s rapid accumulation of foreign said the company used FoxPro software to
of appeal in the income tax (I-T) system unsolicited foreign and local cur- stabilise and begin to recover from exchange reserves. prepare codes. DEV CHATTERJEE reports 2> In what may bring relief to domestic natural
against orders of assessing officers. rency sovereign ratings on India. 2021 onwards. Turn to Page 13 > gas producers, the Union government is con-
sidering setting a floor price for their output.
The plan will benefit
Oil and Natural Gas KEY PLAYERS
Consumer goods sales taper off after June rebound
Corporation Domestic natural gas
(ONGC), which con- production in August
tributes nearly 80 2020 (in MMSCM)
per cent of natural
Second-half recovery restrained; e-commerce bucks trend, says Nielsen gas production in 2,432
India, the most, 189 Oil India
VIVEAT SUSAN PINTO seeking,” he said during the besides Oil India 323
Mumbai, 25 September LOSING STEAM All figures indexed to 100
FMCG OVERALL GROWTH PREMIUM VS MASS PRODUCTS
company’s annual general meeting. (OIL), Vedanta’s
106

Pre-Covid
100

Nielsen has corroborated what Cairn Oil and Gas,

98

58
75

Private
56
94

India’s ~4.3-trillion fast-moving con- Aug 2020 Puri had told ITC shareholders, saying and Hindustan Oil firms/JVs
sumer goods (FMCG) market is show- that mass and popular price segments Exploration
21
19
18

ing signs of weakness after bouncing of FMCG products were showing an Company (HOEC).
17

back to pre-Covid sales levels in June. uptick in August versus pre-Covid The government
6
5

The data shared by market research levels. In contrast, the preference for has set up a commit- 1,920 ONGC
agency Nielsen on Friday showed that Pre- May Jun Jul Aug Mass Popular Premium Super premium and super-premium price tee comprising rep-
FMCG sales in August were below pre- Covid 2020 premium points was coming down as resentatives from PRICE FORECAST
Covid levels as consumers reset their consumers opted for affordable the Petroleum $2.39 per mmBtu:
109

ONLINE VS
106
101
100
100
100

100

81

81
97
81

78

95
77

priorities amid economic uncertainty. products. Private label contribution in Planning and Natural gas price for
74

This is significant because Nielsen

OFFLINE modern trade, too, was inching up in Analysis Cell
Traditional trade Apr 1-Sept 30 period
had earlier pointed to a recovery in the August, standing at a 5.1 per cent value (PPAC), ONGC, OIL,
second half of 2020, which the agency Modern trade share, as against 3.5 per cent visible and GAIL. An offi- in FY21
now admits will be “restrained”. E-commerce pre-Covid-19, it said. cial confirmed that $1.8-$1.9: Expected
“After the lockdown months of Note: Pre-Covid refers The only bright spot here was the the setting of a floor price for Oct 1-Mar 31
to period between Dec
April and May, there was pent-up Pre-Covid May Jun Jul Aug growth of e-commerce, said Nielsen, price was under con-
2019 and Feb 2020 period
demand among consumers, which Source: Nielsen 2020 with online sales in August ahead of sideration, and that
Note: MMSCM is million metric
resulted in a spurt in sales in June and pre-Covid levels visible in the the proposal would standard cubic metre
July. This has now settled down, as channel. Shukla said e-commerce need to be cleared mmBtu is million metric British
thermal unit SOURCE: PPAC
reflected in August. We see this Nielsen’s observations came have to move in tandem. There is a risk said the near-term outlook for the continued to see a steady adoption by the Cabinet.
continuing into the forthcoming within days of Sanjiv Mehta, chairman of inflation, but the bigger risk is the FMCG market remained “uncertain” among consumers, with first-time “The committee
months, though we will keep close and managing director of Hindustan economy going into a tailspin,” Mehta as consumer trends evolved against FMCG shoppers growing. Turn to Page 13 > is set to submit its report next month.
tabs on how consumption evolves Unilever (HUL), saying that the had said during an interaction the backdrop of the pandemic. Whether the floor price will be effective from
during Dussehra-Diwali,” said Sameer government would have to step up organised by the Federation of Indian “There is a shift to larger-basket FMCG START-UPS INNOVATE October 1 or during the upcoming price cycle
Shukla, executive director, retail spending to improve demand even if Chambers of Commerce and Industry. purchases, value packs, and TO FULFIL SNACKING (March 2021 onwards) will be decided only
intelligence, South Asia, Nielsen that meant stoking inflation. Earlier this month, Mehta's peer infrequent shopping frequency as after the committee’s recommendations,”
Global Connect. “Growth and controlling inflation Sanjiv Puri, chairman of ITC, had consumer behaviour is more value- APPETITE OF KIDS P3 said a company official. Turn to Page 13 >
2 COMPANIES
>
NEW DELHI | 26 SEPTEMBER 2020 1

IN BRIEF
GPay doesn’t share transaction DHFL used software to Accenture’s Q4
data with any 3rd party: Google
Google on Friday said Google Pay does not share customer
transaction data with any third party outside the payments
hide books, says report show fuels hope
flow. The clarification from Google came after reports cited the
company’s submission to the Delhi High Court, saying it is
allowed to share customers transaction data with third parties
with the prior permission of NPCI and payment service providing
FoxPro used to show disbursements, receipt of funds from fictitious borrowers for IT companies
(PSP) banks. “This is to clarify that press DEV CHATTERJEE SAI ISHWAR
reports on the basis of the affidavit filed
by Google before the Delhi High Court,
Mumbai, 25 September
THE STORY SO FAR Mumbai, 25 September

B
do not represent the complete facts,” a ankrupt housing finance Even as Accenture’s fourth-quarter
Google spokesperson said on Friday. The company Dewan Housing earnings missed estimates, and the
spokesperson added that Google Pay is Finance Corporation (DHFL) company expects lower growth in
in full compliance with Unified Payment used different loan the first half of FY21, some of its
Interface (UPI) procedural guidelines, accounting software to hide fraudulent metrics like order bookings and
issued by the National Payments transactions involving fictitious growth in outsourcing business are
Corporation of India (NPCI) and the borrowers, said the forensic report seen as positives for Indian IT serv-
applicable laws. PTI prepared by Grant Thornton. ices companies. The NYSE-listed
It said the software helped the com- company follows September to
pany hide the transactions from regu- August financial accounting year.
Volkswagen rolls out Daimler India plans lators and auditors and show inflated Accenture’s overall revenue in
e-integrated service to strengthen income to the stock exchanges. the June-August period fell 2 per
The report said the company used cent to $10.84 billion, compared to BRIGHT SPOT
for pre-owned cars dealership network FoxPro software to prepare codes for the same period last year, primarily > Accenture has reported 6%
Volkswagen Passenger Cars Daimler India (Commercial concealing actual disbursements and owing to its lacklustre performance rise in outsourcing vertical in
India announced the launch of
its digitally integrated service
Vehicle), a subsidiary of
Daimler, has plans to expand
collection of funds by creating 260,315
fictitious home loan accounts. These
2019 2020 in the consulting segment, which
fell 8 per cent quarter-on-quarter
Q4FY20; given a positive
January: Media expose says January 18: Lenders appoint outlook for FY21
outlets for pre-owned cars. dealership network to over 250 codes then had three components, (QoQ). Outsourcing revenue,
With the launch of Das WeltAuto outlets by this year-end, a top including disbursement distribution, DHFL manipulated its books; Grant Thornton to probe however, rose 6 per cent to > Analysts say uptick in
(DWA) Excellence Centres, the executive has said. The and were used to make the actual dis- firm denies any wrongdoing all DHFL transactions $5.15 billion. The performance in outsourcing revenue and
firm aims to strengthen its dealership network would bursements to fictitious entities, which November 20: RBI supersedes April/May: CBI/ED arrests Kapil the outsourcing business has new bookings augur well
one-stop solution to buy, increase by 10 per cent this included several home loan accounts DHFL board, appoints administrator Wadhawan, Dheeraj Wadhawan signalled the recovery to revenue for the Indian IT firms
sell or exchange certified pre- year, reducing the distance of smaller amounts. These fictitious growth for Indian IT firms, too, may
November 29: RBI moves NCLT, August 27: Grant Thornton report > HCL Tech has upped the
owned cars. The firm has between dealerships from the home loans accounts were randomly happen sooner than expected.
initiates bankruptcy proceedings confirms widespread fraud sequential growth of 3.5% in
launched DWA Excellence existing 160 km to 120 km. PTI picked up from DHFL’s own database This is seen as a huge positive
Centres in Coimbatore, of closed loan accounts. for Indian IT firms, especially the ongoing quarter triggering
Hyderabad, Bengaluru, Cochin, Then collection distribution code eration was triggered in FoxPro, which report said. because of the fact that they are not a rally among IT stocks
and Thrissur. Star-Disney India MD
PTI was used to show funds flow from calculated the EMI and pre-EMI. The report, which has been now as consulting heavy as Accenture
> Infosys kicks off Q2 earnings
K Madhavan named Bandra Book Entities (Grant
Thornton’s name for fictitious com-
Since all the accounts were ficti-
tious, there was no question of receiv-
been submitted to the NCLT (National
Company Law Tribunal), has stated
which derives close to 55 per cent
from this segment. cycle from October 14
Messages on platform IBF president panies) to numerous other fictitious ing payment from these fraud entities. the ~14,000 crore hole in DHFL books “Accenture’s revenue mix is dif-
are end-to-end accounts. The funds were wrongly
shown as payment of principal amount
The code was again used to adjust loan
disbursement (not actual flow) from
includes a ~9,320-crore loss in the
wholesale portfolio, ~1,707- crore loss
ferent from Indian IT companies.
One should also note that financials $7.5 billion, respectively. The
encrypted: WhatsApp from fictitious home loan borrowers. DHFL as per the EMIs on books. The in SRA (slum redevelopment) book and communications vertical’s uptick in bookings is a “positive
WhatsApp said messages sent These were adjusted as principal loan non-receipt of the amount in DHFL’s and another ~3,000 crore of fund year-on-year (YoY) revenue decline surprise”, brokerage firm Jefferies
on its platform are end-to- repayments instead of payment of books was concealed. diversion in the retail portfolio. The has also moderated. These consti- said in a note.
end encrypted and only the interest component first. Therefore, the Accordingly, the EMIs were settled recoverability of these loans are now tute the largest verticals for Indian According to Motilal Oswal
recipient of a message can “Bandra Book Entities” portfolio was via disbursement made by DHFL for under doubt, the report said. IT firms’ revenue,” said Sanjeev Securities, Accenture’s manage-
read the content. This comes K Madhavan (pictured) has gradually brought down by showing the month. The administrator appointed by Hota, vice-president (research ment has hinted at a robust deal
at a time when WhatsApp been appointed the president repayments of principal and not the “There was a form of ever-green- the RBI to oversee the housing finance head) at Sharekhan. pipeline, which is quite encourag-
chats of actors have been of the Indian Broadcasting interest amount. ing the loan account without actual company, told the court that further New bookings for Accenture ing for Indian IT companies. “We
purportedly leaked and has Foundation (IBF). The By the month end, in order to falsely disbursement of funds but by just amount of ~3,348 crore is due and out- grew 9 per cent YoY to $14 billion, understand these bookings could
raised concerns among managing director of Star and show the fictitious home loan accounts generating accounting entries. In standing towards notional loss to the their second-highest ever. New be lumpy, but they still indicate
WhatsApp users about privacy Disney India, Madhavan will were serviced and EMI (equal monthly doing so, DHFL generated fictitious company on account of fraudulently bookings in consulting and out- demand is on the path to normali-
of their conversations on the be taking over from N P Singh instalment) was paid by the non-exis- interest income entries, thereby arti- charging lower rate of interest to the sourcing increased by 7 per cent sation and recovery, with the worst
messaging platform. PTI for 2020-21. BS REPORTER tent borrowers, the process of dues gen- ficially inflating its income,” the “Bandra Book Entities.” and 10 per cent to $6.5 billion and behind us.”

‘Recovery in paints segment better than expected’ Siemens leases

At a time when overall demand in the economy is likely to see an uptick in the festive season, H M BHARUKA, “DEMAND FROM to some extent. My
730,000 sq ft
vice-chairman and managing director (MD) of Kansai Nerolac Paints, in an interview with Shreepad S Aute, says
recovery for the paints industry is better than other sectors. As the company completes 100 years of operation,
Bharuka is bullish that it would continue to maintain its leadership position in the industrial paints segment,
URBAN AREAS,
MAINLY METROS, IS
take from dealer
checks is that demand
for two-wheelers and
in Bengaluru
going ahead. Edited excerpts: passenger vehicles is
STILL LOW, WHILE IT IS good despite liquidity
We have already entered the festive season, low, while demand from the rural market is on a ON A HIGHER SIDE problems. The pan-
which is expected to improve the overall higher side. So, rural demand is compensating for IN THE RURAL demic has actually
demand scenario. Would it be relatively the lower urban demand. It’s not that people are accelerated demand as
better for paint players? shifting from premium to economy products, but MARKET. SO, people are expected to
The overall recovery in the entire economy is the urban demand has not come back. So, demand RURAL DEMAND prefer private/own
faster than expected. People have accepted that
Covid-19 is going to be there just like normal flu.
for premium products is lower. I believe demand
revival in metros would still take time despite the
IS COMPENSATING vehicles rather than
public transport for the
You can see that almost all people are working festive season due to some factors like painters not FOR THE LOWER purpose of safety. This
and all shops are open now. So, to that extent, the being able to travel as railways are still not fully URBAN DEMAND” should push two-
recovery is better than what people had operational. We have recently launched wheeler and small car
thought. Definitely, for the paint indus- India’s first anti-viral paint and expect to sales. Also, a pick up in
try, it is better than what we had get good response for it. rural demand is helping the tractor segment. So, MAJOR OFFICE LEASING DEALS
thought and better than other indus- to that extent, I believe automobile sales growth
Tenant Property/City Area
tries. We are back to our normal growth Are there any signs of demand would sustain, going ahead.
(Mn Sq ft)
level, which again, I would say is a pressure in rural areas as Covid-19
H M BHARUKA Google Bagmane Rio/ Bengaluru 1.08
pleasant surprise for us. Fear psychosis cases are rising? worries in rural areas due to the pandemic. The company is celebrating completion of
among consumers amid Covid-19 has V-C & MD, Kansai Rural markets had expected Covid-19 to 100 years of operation. Would you continue to Accenture Prestige Startech/ Bengaluru 0.65
also now lowered compared to a few Nerolac Paints spread and they are not too worried Automobile numbers in recent months have remain an industrial paints major or would the
months back. according to me, although there is fear. I been strong. How sustainable are they as some focus be more on the decorative segment? JP Morgan Salarpuria Knowledge City/ 0.651
think rural markets have accepted this as a new say retail automobile demand is yet to pick up? It doesn’t make any difference to us whether it is Hyderabad
Have you started witnessing demand for normal. It is not affecting people because most of Automobile sales have obviously revived when I industrial paint or decorative paint. However, we Cognizant Ozone Techno Park/ Chennai 0.63
luxury paints as easing of lockdown is taking them are immune to it. And, the mortality rate is look at two-wheelers, four-wheelers and the trac- will continue our leadership position in the indus-
place in metros/tier-1 cities? not very high. They are recovering faster than I tor industry. What is yet to recover is the com- trial paints category and certainly like to increase JP Morgan Nirlon Knowledge Park/ 1.0
Demand from urban areas, mainly metros, is still would say urban people. So, I don’t see any demand mercial vehicles and the three-wheelers segment, our market share in the decorative segment. Mumbai
Morgan Oberoi Commerz 3/ 0.8
Stanley Mumbai
Source: CRE MATRIX

Rana Kapoor’s
~127-crore London
No communication on closure plan yet: RAGHAVENDRA KAMATH
Mumbai, 25 September

flat attached by ED
PRESS TRUST OF INDIA
New Delhi, 25 September
The Enforcement Directorate (ED) has attached a
~127-crore flat of YES Bank co-promoter
Rana Kapoor in London in connection with a money
laundering investigation against him and others,
the central agency said on Friday.
The agency issued a provisional order for attach-
ing the property —
Apartment 1, 77 South
Audley Street, London —
under the Prevention of
Money Laundering Act.
“The market value of the
flat is £13.5 million (~127
crore). The property was
bought by Rana Kapoor in
2017 for £9.9 million (~93
crore) in the name of
DOIT Creations Jersey
Limited and he is the beneficial owner,” the ED said.
Sebi imposes ~1-crore penalty on Kapoor
The Securities and Exchange Board of India (Sebi)
on Friday imposed a penalty of ~1 crore on Rana
Kapoor, former managing director and chief execu-
tive officer of YES Bank, for violation of disclosure
related norms pertaining to encumbrance of shares.
In 2018, Morgan Credits, a YES Bank promoter
entity, had raised ~950 crore from Reliance Mutual
Fund but failed to make adequate disclosures. “In
this case, the nature of the default by the noticee
(Kapoor) is found to be serious, since the noticee
failed to disclose material events/information as
found hereinabove. Such defaults by the noticee
being a MD & CEO are blameworthy and grave con-
sidering the degree of responsibility and duty cast
upon him under the law,” Sebi said. BS REPORTER
Harley dealers, owners left in the lurch
ARINDAM MAJUMDER
New Delhi, 25 September
Harley-Davidson has announced
quitting India operations but is yet
to assure thousands of its owners
and around 35 dealerships of
providing service support to the
25,000-odd bikes it has sold in
the country.
The US motorcycle manufac-
turer on Thursday announced that
quitting India operations was part
of its global restructuring initiatives.
It plans to exit international mar-
kets, where volumes and profitabil-
ity have been elusive.
Its dealers, however, are anxious
that they may face similar ordeal as
seen when foreign companies had
quit India in the past. Harely-
Davidson is the fourth foreign auto-
mobile brand to shut shop in India
after General Motors, MAN trucks,
and UM Lohia in recent years.
“When a brand leaves a country,
it results in unavailability of spares
and service, makes customers anx-
ious and consumer cases follow,”
said Vinkesh Gulati, president
of automobile dealers’
association FADA.
Gulati said the association would
approach the government for imple-
mentation of the Franchise
Protection Act, which protects
dealers’ interest during such clo-
sures by manufacturers.
Queries to a company spokes-
Harley-Davidson showroom.
“Though there were reports, the
company never communicated any
such intention to us. In fact, they
were actively communicating. My
customers are asking about after-
sales to which I can only say that all
contract will be honoured till
December,” Makharia said.
He, however, believes that an
iconic company like Harley would
find a solution.
A Harley-Davidson owner said
the company sent a mail to its cus-
tomers saying that it was evaluating
options for India and the current
dealers would provide services
till December.
Company has said the current dealers will provide services till December. A call to Harley-Davidson’s call
Sources say Harley may tie up with Hero for distribution and after-sales centre on how would the company
provide after-sales service to its cus-
person were not responded to. which will allow the US firm's tomers didn’t elicit a response bey-
Setting up its dealership for pre- motorcycles to be sold in India. The ond “we are working on a changed
mium brands like Harley costs up non-equity deal may let Hero business model. Be rest assured
to ~5 crore. Industry estimate say become a contract manufacturer for your product will be taken care of”.
luxury two-wheeler dealership on Harley and handle distribution in Industry executives, however,
an average employs 50 people. India. said a deal with a major company
“The company has not informed UK-based Triumph Motorcycles, like Hero MotoCorp would bode well
any of its dealer partners about Harley’s rival in the 500-cc and for both.
its closure plans and dealers are yet above segment, has a non-equity “Just setting up a service centre
to receive any official communica- partnership with Bajaj Auto, of Harley will cost ~1-2 crore. The
tion,” said Gulati, adding that the under which it manufactures its parts don’t come cheap. Plus, the
dealers who invested their products at Bajaj’s Chakan factory. volume of Harley bikes available for
hard-earned capital in this brand Bajaj also handles the distribution servicing won’t be huge as only
were left in the lurch without any for Triumph. 25,000 bikes have been sold in
compensation package. The news of the company leaving India. Only a major company like
The company, however, is in India came as a shock for Atul Hero with a strong distribution
advanced talks with India’s Hero Makharia, director of Bengal Harley, channel can handle this,” said
MotoCorp for a distribution deal, which was eastern zone’s first an executive.
Global automation leader Siemens has taken
730,000 square feet (sq. ft) office space on rent
at Gold Hill Excelsior in Electronic City,
Bengaluru, said sources in the know.
Siemens will pay a monthly rent of ~80 per
sq. ft or ~70 crore per year. When contacted, a
company spokesperson said it was the part
of company’s consolidation strategy and it
would move in the new facility by March 2021.
The property owner could not be
contacted for comments.
“The deal holds significance as the current
average rentals of the fitted out spaces in the
micro-market are ranging between ~68 sq.ft
and ~80 per sq.ft a month and the deal has
been signed at a higher-end of this spectrum,”
said Abhishek Tiwari, co-founder at CRE
Matrix, a real estate data analytics firm.
According to Tiwari, tenants have taken
up warm shell spaces in the micro-market
after paying about ~55 per sq. ft per month.
The new facility is part of a 1.6 million sq.ft
complex located at Hosur Main Road. The
tenure of the deal is nine years, with a
two-month rent-free period and a rental esca-
lation of 8 per cent after 14 months.
Large infotech companies — Accenture,
IBM, and Google — have taken large spaces
this year despite the pandemic and
work-from-home norm. About 18 million
sq. ft of office leasing has happened this year
against the normal take up of average
40 million sq. ft.
Google took one million sq. ft in Bagmane
Rio in Bengaluru early this year. Accenture
took 650,000 sq. ft in Prestige Starteck in
Bengaluru. “Limited new supply from past few
years in Electronic City did have impact on
demand with few new transactions observed
in micromarket. Given decent new supply lined
up for 2021, more activity is expected next year,”
said Tiwari.
.
NEW DELHI | 26 SEPTEMBER 2020 COMPANIES 3 <

Vodafone may not change SP Group to recast ~10,900-cr debt

under Covid resolution framework
stance on investment PRESS TRUST OF INDIA
Mumbai, 25 September
from global investors by pledg-
ing their shareholding in Tata
Sons. “The fund was expected
Victory in the ~20,000-cr The Shapoorji Pallonji Group,
which has decided to exit the
to mitigate the severe stress
arising from the pandemic,
tax case in the Hague Tata group, will restructure deleverage the balance sheet
~10,900 crore of its debt under and protect the livelihood of its
will boost sentiment the resolution framework for 160,000 workforce,” the official
for the stock pandemic-related stress, a
group official said.
added.
But Tata Sons moved Sup-
RAM PRASAD SAHU The relief is being sought reme Court to stay the fundrais-
Mumbai, 25 September under the one-time loan restr- ing plan, which the group has
ucturing plan approved by the decried as “a vindictive move ai-

V
odafone Group Plc’s victory in an
arbitration case it had initiated in
2014 against a tax demand of
~20,000 crore at the Permanent Court of
Arbitration in the Hague is set to boost
investor sentiment.
However, it is unlikely to change its
stance on investments in its Indian joint
venture Vodafone Idea, believe analysts.
Vodafone Plc owns just under 45 per cent
in the Indian telecom venture.
Ambareesh Baliga, an independent
analyst, said the decision is positive for
Reserve Bank after it accepted
the K V Kamath panel report,
which allows financially stres-
sed firms to recast their debt for
two years, the official said.
“Shapoorji Pallonji Constr-
uction (SPCPL), the holding
company of the 150-year-old
Shapoorji Pallonji Group, wants
VODAFONE IDEA: WEAK NUMBERS Vodafone Plc. Says an analyst at a foreign to restructure ~10,900 crore of
 FY20  Q1FY21 (~ crore) brokerage, “Vodafone Plc has already their debt through the one-time
invested $30 billion in the Indian tele- loan restructuring under the
com market and has not made money Covid-19 resolution framework
44,958
med at creating irreparable ha-
rm on the group in the midst of
The development comes after the Tatas moved Supreme Court the pandemic,” the official said.
to block SP Group’s plans to pledge a portion of its 18.37 per cent The Reserve Bank had on
stake in Tata Sons September 7 adopted the reco-
mmendations of the K V Kam-
tion business which has been Following this, the SP Group ath committee that was set up
facing liquidity issues follow- informed the apex court that it to draft a framework to provide
ing the lockdowns to help con- would want to end the 70-year- relief to companies financially
tain the coronavirus pandemic. old association with the Tatas impacted by the pandemic.
The Tatas moved court a as the mutual trust between The framework provides for
day after the SP Group inked a them has been broken beyond a two-year extension of repay-
fund raising deal with the repair. The Mistry family owns ment obligations subject to

115,500
112,520

Vodafone Plc and could help make the from this investment. While it may use approved by the RBI,” the offi- Canadian fund Brookfield for 18.37 per cent shares (both listed meeting certain conditions.
fund raising process easier. money from investments in Bharti cial said on Friday. ~3,750 crore. and unlisted) in Tata Sons, the The group official further
-25,460
-22,048
10,656

-15,681

-61,797

Vodafone Idea is planning to raise
~25,000 crore via equity and debt instru-
ments and is targeting another ~10,000
crore from the sale of fibre and data cen-
tre businesses.
Baliga believes that there were two key
outstanding issues for the parent of the
listed entity. While the judgment on
adjusted gross revenues (AGR) removed a
major overhang on the sector, the other
key dispute was the ongoing litigation
against the Centre on retrospective
change in tax law. With the resolution,
both the issues are now behind it.
Pankaj Murarka of Renaissance
Investment Managers believes that the
decision will boost sentiment and also
sends a positive message to foreign
FMCG start-ups innovate to
Revenue PBIDT PBT
Source: Capitaline; Compiled by BS Research Bureau
investors. He expects the telecom sector
to remain a three-player market with rates
expected to move up over the next couple
of months.
While Street reaction was positive with
Vodafone Idea stock moving up nearly 14
per cent, some analysts are sceptical
about the ability of the company to match
up to its larger peers. This is in view of the
absence of equity investments by
Infratel for investments in Voda Idea, the
chances of fresh funds are miniscule.”
Experts believe that the decision by
the Supreme Court last year on the AGR
matter was probably the last straw that
Net debt broke the camel’s back. Lack of major
investments to upgrade its network and
aggression by Jio on postpaid tariffs could
lead to further loss of subscribers for the
third largest private operator.
At the end of the April-June quarter,
Vodafone Idea had a net debt of ~1.15 tril-
lion and posted a pre-tax loss of ~25,460
crore in the quarter.
In addition to the annual capex, the
company needs large infusions to take
care of spectrum payments and balance
AGR dues over the next two years.
The development comes
after the Tatas had on Septem-
ber 5 moved the Supreme Court
to block SP Group’s plans to
pledge a portion of its 18.37 per
cent stake in Tata Sons, which it
has been holding for the past
seven decades and has valued
at over ~1.78 trillion, to raise
~11,000 crore.
The proposed debt was to
fund the group’s core construc-
Tanishq gets its pot of gold: Revenue
recovers to 90% of pre-Covid levels
SAMREEN AHMAD
Bengaluru, 25 September
Accepting the Tatas’ peti-
tion, the Supreme Court had on
September 22 asked both the
parties to maintain status quo
on shares till October 28 when it
will pronounce the verdict on
the Tatas’ petition challenging
the NCLAT reinstating Cyrus
Mistry as the Tata group chair-
man and Mistry's petitions
seeking to protect the rights of
minority shareholders.
holding company of the Tata
group. The construction and
real estate sectors, the mainstay
of the SP Group, have been bad-
ly hit by the pandemic.
Over the past two years, the
promoters had infused over
~3,000 crore into the group to
strengthen its balance sheet,
the official said.
The Mistry family was in the
process of raising ~11,000 crore
said SPCPL's move to go for
one-time loan restructuring is
meant “to safeguard the finan-
cial interest of all stakeholders
and protect the livelihoods of
its employees and contractors
in these challenging times.”
SPCPL’s flagship operating firm
is Afcons — the second-largest
engineering, procurement and
construction (EPC) company in
the country after L&T.

After reporting 56-per cent

son. We also expect a stronger
wedding season — a lot of wed-
dings were deferred in Q1. We
are looking forward to a healthy

fulfil snacking appetite of kids decline in the first quarter (Q1)

SAMREEN AHMAD
Bengaluru, 25 September
Feeding kids is no child’s play.
While the Indian kids apparel
market has crossed $4 billion
in the country, FMCG start-ups
are now eyeing the healthy
snacking range for children
below the age of 10 years, which
was non-existent until now.
Several start-ups have rolled
out unique healthy food prod-
ucts and beverages, including
pre-biotic chocolates, whole
grain snacks, porridges and
nutty bars for toddlers and
school going children to carve
out a separate segment.
While they have already gar-
nered the attention of investors,
including marquee names such
as MTR and former Tata Health
CEO Muthu Krishnan, these
start-ups are seeing over 100
per cent growth month-on-
month after Covid, as healthy
eating has taken the cen-
trestage.
Bengaluru-based healthy
foods brand Timios, which was
started three years ago by
brother-sister duo Aswani
Chaitanya and Hima Bindu,
will soon be rolling out a range
Several start-ups have
rolled out unique healthy
food products and
beverages for toddlers
and schoolchildren
of baby products by the first
week of October. The company
is in the process of setting up a
$500,000-manufacturing unit
that will produce items just-in-
time to maintain the freshness
value. Initially, it will have
capacity of 15-20 tonnes per
month.
“We want to focus on 0-5
years of age. We will come up
with a probiotic range in diff-
erent formats for them, includ-
ing cookies, energy bars, and
snacks in the next 12-18 months,”
said Chaitanya, a former invest-
ment banker who quit his job
with Goldman Sachs to roll out
Timios. The current packaged
snacks segment is pegged at $4
billion in India and is expected to
grow annually at a CAGR of 7.5
per cent between 2019 and 2023.
“The healthy snacking catego-
ry for children is non-existent in
India and we are hoping for a 2x
growth in the next five years,”
he said.
Food and nutrition start-up
LilGoodness has launched
India’s first prebiotic chocolate.
These first of its kind chocolates
have prebiotic fibres, which
activate healthy bacteria in the
gut and improves the absorp-
tion of essential vitamins and
minerals, therefore promoting
better immunity and good
health, said the company, fou-
nded by former Tata Health
executives Harshavardhan and
Pariksha Rao. It will be launch-
ing five different variants in the
prebiotic chocolates range for
the festive season.
The company already has a
range of vegetable crackers and
ready to eat porridges available
on ecommerce websites. They
will be launching a jaggery
based additive and a beverage
for kids in a couple of weeks.
“We are working with a team of
scientists in the country to
come up with snack options
using ancient superfood grain
Teff which is high in protein,”
said Harshavardhan.
Milk start-up MilkLane is
also targeting the kids’ segment,
a white space in the dairy mar-
ket. The firm is building its own
pipeline of dairy products, Nutr-
inos, for children aged between
3 and 8 years. “Our aim is high-
and-fast penetration in the kids
segment that forms a 10 per cent
of the $800-billion dairy mar-
ket in the country,” said
MilkLane CEO Gaurav Haran.
Gurugram-based Slurrp
Farm is also ensuring that heal-
thy grains such as millets reach
the plates of children in form
of dosas and pancakes.
“These start-ups need to
bring in the elements of health,
fun and immunity too after the
outbreak of Covid to find suc-
cess in this segment,” said
brand expert Harish Bijoor.
of the current financial year, the
revenue of Tanishq, the jew-
ellery division of Titan, has
third quarter,” said Chawla.
The Bengaluru-headquar-
tered firm will be adding 30-35
new Tanishq stores in 2020-21,
recovered to almost 90 per cent compared to 41 stores in the pre-
of pre-Covid levels, ahead of vious financial year. It will stick
consensus. to the strategy of expanding into
According to an ICICI Secu- central India as the company is
rities note, the likely drivers are seeing sales traction in the
rising volumes, fairly stable yel- towns have seen improving the Shradh (a 16-day period region. Video selling, appoint-
low metal prices, and increased recovery trends month-on- when Hindus remember their ment-based selling, endless
acceptance of high gold prices month,” Ajoy Chawla, chief ancestors by offering prayers) aisle and virtual try-ons are
by consumers. “We are encour- executive officer of jewellery season. some of the features the com-
aged by the customer response. division at Titan, said. The firm will be launching a pany’s technology team has
We are very happy with the Overall, July and August saw collection this festive season, rolled out to enable at-home
recovery. Tier-2 and -3 towns impressive recovery, which was followed by a brand new wed- buying. It has seen big-ticket
have continued to do better closer to 90 per cent. September ding line-up. “We are hoping for sales of up to ~10 lakh through
than Tier-1 towns. Almost all could be a little lower because of good demand this festive sea- these virtual-buy features.
No talks with TCPL for vending APPOINTMENTS
machine biz sale: Coffee Day
Coffee Day Enterprises on Thursday said it continued to explore and
evaluate various opportunities amid reports that it was in talks with
Tata group firm TCPL to sell its vending machine business. Coffee Day
Enterprises (CDEL), however, in a regulatory filing said there was no
such negotiation or events taken place with Tata Consumer Products
(TCPL) in this regard. Meanwhile, TCPL said it evaluated various
opportunities on an ongoing basis without confirming or denying
talks with CDEL. TCPL's reply came over reports that it is in talks with
CDEL to acquire the latter's vending machine business. “The
company evaluates various opportunities on an ongoing basis. As a
policy, we do not comment on speculative information," said TCPL.
CDEL, on its part said that as part of an ongoing restructuring exercise,
any such proposal by any company was always a subject matter of
feasibility studies and the need for requisite consents. PTI

Covid fight: Indian firms join race to develop blood products

SOHINI DAS
Mumbai, 25 September
Covid-19 has already claimed
about a million lives globally
and the toll is rising. As the
development of vaccines or any
drug will take time, research on
Sars-CoV-2 neutralising antibodies
is gaining ground to fill an unmet
demand in therapy.
Global majors like Roche and
Takeda are working on antibody
therapies, and Indian firms aren’t
far behind. Ahmedabad-based
Intas Pharma’s Plasma Division
and Mumbai-headquartered
Bharat Serums and Vaccines
(BSVL) are looking to produce
what are commonly known as
hyperimmune globlulins from
convalescent plasma from recov-
ered patients and horses.
What are hyperimmune
globulins?
A patient who has recovered from
Covid-19 has antibodies that are
targeted against the virus. In con-
valescent plasma therapy, these
antibodies are administered to a
patient. The problem with this
approach is that the amount of
antibodies differs from one donor
to another and plasma has to be
stored at very low temperatures.
An elaborate infrastructure is
needed to get and process plasma
at the centre. Complicating things
further, the blood groups of the
donor and recipient have to match.
Covid-19 hyperimmune globu-
gen and then the plasma is extract- sources said it would be in the same
ed. This process is well established range as the price of remdesivir in
and has been in use for years. India, which roughly costs between
BSVL has held discussing on ~2,800 and ~5,400 per dose.
the product with the Indian From a manufacturing point of
Council of Medical Research view, one does not need to invest
(ICMR). Navangul said ICMR is much as it is already established,
willing to provide antigens for Navangul said. While pricing is
BSVL’s product. still some way away, the firms feel
This might take time as institu- that if a patient can avoid hospital-
tions like the National Institute of isation and intensive care by using
Virology (NIV) are overwhelmed the product, it will bring down the
with work. “Meanwhile, we cost borne by the patient and the
acquired a few antigens through health care system.
DCGI approval and have started Globally, Roche and Regeneron
work,” he added. BSVL is now test- have collaborated to develop anti-
ing the safety and efficacy of its body products for Covid that are
product and is working in US labo- derived from recovered patients
ratories. “It is now faster to test out- and VelocImmune mice. Severin
Intas Pharma’s Plasma Division and Bharat Serums and Vaccines are looking side as our Indian laboratories are Schwan, CEO of Roche, explained
to produce what are commonly known as hyperimmune globlulins from already quite overburdened. If we at a recent webinar that while
convalescent plasma from recovered patients and horses use the ICMR antigen, then we may some patients do not develop the
test the product at NIV. BSVL has right antibodies to fight the virus,
lin is also prepared from convales- products. The target group would not yet started human trials,” some develop it relatively late. “If
cent plasma. It is processed, puri- be moderate to severe patients, and Navangul said. we can identify and give these peo-
fied and concentrated, and blood it might help protect them from Dr Jaby Jacob, head of research ple neutralising antibodies at early
borne pathogens are removed, and progressing to the critical stage. and development at BSVL, said: stages, there can be huge benefits.
made into standard doses. Intas, Mumbai-based BSVL has “We have now developed enough It can also be given as a prophylax-
for example, is making 10 ml vials. adapted its plasma fractionation plasma from horses from which we is to high risk individuals,” he said.
A patient typically needs 30-60 platform technology to produce have extracted the antibodies. We The Intas spokesperson said
ml dosage, as compared to 200- equine polyclonal antibody prod- are now checking the binding of the that approach will remain relevant
400 ml of plasma. Further, han- uct against Sars-CoV-2. antibody to the spike protein of the even after a vaccine arrives as
dling and administration is easier Sanjiv Navangul, the firm’s virus. In vitro studies have shown hyperimmune globulin also has
as it can be stored at temperatures managing director and chief exec- that the antibody is successfully potential for prophylaxis.
of 2-8 degree Celsius. utive officer, said using horses for binding itself. Next, we will test to Generally, there is a seven to ten
An Intas spokesperson said the convalescent plasma is useful as see if the virus gets neutralised.” day window to develop effective
company is conducting phase 2 one can build the antibody titres immunity after someone is vacci-
clinical trials. After this, it might very fast. “We used antigens on What about the product’s nated. If a healthcare worker or
approach the Drug Controller horses and the antibody titres pricing? any high-risk individual is exposed
General of India (DCGI) to seek came out very well. The in vitro While firms did not wish to com- to the virus in the meanwhile, a
emergency use authorisation as studies show good results.” ment on pricing as the products are shot of hyperimmune globulin
there is an unmet need for these Horses are injected with the anti- under development, industry could be a life saver.
m P
E l l
N L C India Limited
'Navratna' - Government of India Enterprise
Regd. Office : First Floor, No.8, Mayor Sathyamurthy Road,
FSD, Egmore Complax of Food Corporation of India, Chatpat, Channai - 600 031.
Corp. Office : Block-1, Neyveli-607 801, Cuddalore District, Tamil Nadu.
CIN No.: L9309QTN1956GOI003507, Website: www.nlcindia.com
4 COMPANIES NEW DELHI | 26 SEPTEMBER 2020

EV push: Govt plans GMR to sell

NOTICE INVITING TENDER FOR SUPPLIES (e-TENDER NOTICES SI.No.1 to 6) <b<nifi C a n a r a B a n k ^
Sl.No. Tender Ref./Scope of Supplies & Qty. Reqd.

Kakinada SEZ,
1.UNIT:M.M.COMPLEX: PTE-ENQ/20-21/001363/MM05(05) dt.15-09-2020:
Procurement of combustor air nozzle assembly type-1 and type-2 (2 items) HO: # 112, J C Road, Bengaluru - 560 002
Due date of opening: 19-10-2020 Balance Sheet Section, Financial Management Wing. Tel: 000-2253 8561 www.canarabank.com

$4.6 bn in incentives
2. ENQ/20-21/001390/MM11(02) dt.18-09-2020: Mild Steel Welding electrode
of radiographic quality conforming to AWS SFA 5.1 E 6013 or IS 814-1991:
R E Q U E S T FOR PROPOSAL (RFP) FOR SELECTION
OF BOOK RUNNING LEAD MANAGERS (BRLMs) I
port biz to
Aurobindo
ER 4211 X / IS 814-1991: ER 4212X / IS 814-1991: ER 4222X / IS 814-1991:
ER 4221 X (4 Items) Qty.: 1017900 Nos. Due date of opening: 16-10-2020
MERCHANT BANKERS (MBs)
3. ENQ/20-21 /001333/MM23(01) dt.18-09-2020: (i) 4-way Extensible Canara Bank, a leading Public Sector Bank in India, invites "Request For Proposal" from

Realty
for battery makers
Type, Ring M a i n Unit-3 Nos. (ii) 3 - w a y Extensible Type, Ring reputed Book Running Lead Managers (BRLMs) / Merchant Bankers (MBs), who satisfy
Main Unit- 33 N o s . Due date of opening: 15-10-2020 the eligibility criteria, for extending their services to the Bank as its Book Running Lead
4. ENQ/20-21/0001365/MM03(01) dt.22-09-2020: U n d e r C a r r i a g e Managers (BRLMs) for the proposed QIP. The minimum requirements, eligibility criteria,
procedure and formats of the details I integrity pact to be furnished by the applicants JYOTI MUKUL
set for B E M L m a k e Bull Dozer. Due date of opening: 22-10-2020
have been ported on: New Delhi, 25 September
5. PTE-ENQ/20-21/001409/MM02(01) dt.21-09-2020:Buffer d o o r
1. Bank's Website: https://www.canarabank.comttenders.aspx
belt as per DIN 22 102, 1600 m m wide, N y l o n / N y l o n , m i n i m u m
2. Central Public Procurement Portal: https://eprocure.gov.in/cppp/ GMR Infrastructure (GIL) on
Friday announced signing of
breaking load 4 0 0 N / m m belt width,2 ply, top c o v e r 2 5 m m , bottom
c o v e r 3 m m , c o v e r g r a d e - X as per the specifications e n c l o s e d . Eligible and interested applicants may download the document. The duly completed NEHAARORA& AFTAB AHMED
Qty.:3300 Metres. Due date of opening: 23-10-2020 application in the prescribed format with all supporting documents shall be submitted to New Delhi, 25 September definitive agreements for the
6. PTE-ENQ/20-21/001423/MM18(06) dt.23-09-2020: Procurement the above mentioned address on or before 09.10.2020 upto4 p.m. sale of 51 per cent equity
of Hydrochloric Acid (HCL) to IS:265/1976 having a min. Strength The Bank will not be responsibletorany postal delays. Application through e-mail is not ndia plans to offer $4.6 bil- owned by its wholly-owned
of 3 0 % Due date of opening: 21-10-2020
FOR e -TENDER DOCUMENTS/DETAILS/CORRIGENDUM VISIT: www.nlcindia.com
P U B L I C S E C T O R I S Y O U R S : H E L P IT T O H E L P Y O U
valid. The Bank reserves therightto accept or reject any or all the applications without
assigning any reasons whatsoever.

Date: 25.09.2020 GENERAL MANAGER

I lion in incentives to com-
panies setting up advanced
battery manufacturing facilities
as it seeks to promote the use of
electric vehicles and cut down
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT FOR DISTRIBUTION OUTSIDE INDIA.)
its dependence on oil, accord-
ATAL REALTECH LIMITED
ing to a government proposal
seen by Reuters.
A proposal drafted by NITI
ATAL (CIN: U45400MH2012PLC234941) Aayog, a federal think tank
Our Company was incorporated as Atal Realtech Private Limited on August 25,2012 under the Companies Act, 1956 with the Registrar of Companies, Mumbai bearing chaired by Prime Minister
Registration No. 234941. The status of the Company was changed to public limited and the name of our Company was changed to Atal Realtech Limited vide Special Narendra Modi, said India
Resolution dated Cecember 12,2019.The fresh certificate of incorporation consequent to conversion was issued on January 21,2020 by the Registrar of Companies, could slash its oil import bills
Mumbai. For further details pertaining to the change of name of our Company and the change in Registered Office, please refer the chapter "History and Certain by as much as $40 billion by
Corporate Matters" on page no. 101 of the Prospectus. 2030 if electric vehicles were
Registered Office: Shop No. 1, Sumangal Builder House, Holaram Colony, Sadhu Vaswani Road, Nashik - 422 002 widely adopted.
Contact Person: Mr. Sushil Ladda, Company Secretary and Compliance Officer. The proposal is likely to be
Tel No.: +91 - 2 5 3 - 2 3 1 2627 | Email: info@atalrealtech.com | Website: www.atalrealtech.com reviewed by Modi's Cabinet in
the coming weeks, said a senior
PUBLIC OFFER OF 15,04,000 EQUITY SHARES OF Y 10 EACH ("EQUITY SHARES") OF ATAL REALTECH LIMITED ("ARL" OR THE "COMPANY") FOR CASH
government official, who was
AT A PRICE OF ? 72 PER SHARE (THE "OFFER PRICE"), AGGREGATING TO ? 1,082.88 LAKHS ("THE OFFER"), CONSISTING OF FRESH OFFER OF 3,04,000
not authorised to comment on
EQUITY SHARES AGGREGATING TO ? 218.88 LAKHS AND AN OFFER FOR SALE OF 12,00,000 EQUITY SHARES BY THE PROMOTER SELLING SHAREHOLDER
the matter and declined to be
AGGREGATING TO ? 864.00 LAKHS ("OFFER FOR SALE"), OF WHICH 76,800 EQUITY SHARES OF ? 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY
MARKET MAKER TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS THAN THE MARKET MAKER RESERVATION PORTION I.E.
identified. NITI Aayog and the
OFFER OF 14,27,200 EQUITY SHARES OF ? 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE Indian government did not re-
30.48% AND 28.93%, RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. spond to requests for comment.
The think tank recommended
THE FACE VALUE OF THE EQUITY SHARE IS ? 10 AND THE OFFER PRICE IS 7.2 TIMES incentives of $4.6 billion by
OF THE FACE VALUE 2030 for firms manufacturing
advanced batteries, starting
THIS OFFER IS BEING MADE IN TERMS OF CHAPTER IX OF THE SEBI (ICDR) REGULATIONS, 2018 AS AMENDED FROM TIME TO TIME. with cash and infrastructure
For further details, please see "Offer Related Information" beginning on page no. 179 of the Prospectus. incentives of ~900 crore ($122
MINIMUM APPLICATION SIZE OF 1,600 EQUITY SHARES AND IN MULTIPLES OF 1,600 EQUITY SHARES THEREAFTER million) in the next financial
year which would then be ratch-
OPENS ON SEPTEMBER 30, 2020 eted up annually.
OFFER "Currently, the battery ener-
gy storage industry is at a very
CLOSES ON OCTOBER 07, 2020 nascent stage in India with
Simple, Safe, Smart way "Applications Supported by Blocked Amount (ASBA) is a better way of Mandatory in Public Issues investors being a little appre-
India plans to retain its im-
port tax rate of 5 per cent for
certain types of batteries, inclu-
ding batteries for electric vehi-
cles, until2022, but will increase
it to 15 per cent thereafter to
promote local manufacturing,
the document said.
Though keen to reduce its
oil dependence and cut down
on pollution, India's efforts to
promote electric vehicles have
been stymied by a lack of invest-
ment in manufacturing and
infrastructure such as charging
stations. Just3,400 electric cars
were sold in the world's second-
most populous nation during
the last business year, com-
pared to sales of 1.7 million con-
ventional passenger cars.
The policy could benefit bat-
tery makers such as South
Korea's LG Chem and Japan's
Panasonic Corp as well as auto-
makers which have started
building EVs in India such as
Tata Motors and Mahindra &
ld's lithium-ion cell produc-
tion, India has introduced
stricter investment rules for
Chinese firms. It has also slo-
wed down the approval pro-
cesss for some proposals after
a deadly border clash between
the two countries in June.
The draft proposal said
annual domestic demand for
battery storage and market size,
currently less than 50 gigawatt
hours and worth just over to $2
billion, could grow to 230 Gw
hours and more than $14 billion
in ten years time. It did not offer
an estimate of how many elec-
tric cars it expected to be on the
road by 2030.
The proposal estimates it
would cost firms some $6 bil-
lion over five years to set up
manufacturing facilities with
the support of government sub-
sidies. NITI Aayog has been
the driver of several key India
government policies includ-
ing the planned privatisations
subsidiary GMR SEZ and Port
Holding in Kakinada SEZ
(KSEZ) to Aurobindo Realty
and Infrastructure.
According to the deal, the
100 per cent equity stake of
Kakinada Gateway Port held
by KSEZ would also be trans-
ferred to Aurobindo Realty.
This is also the latest in its
larger plan to sell off some of
its non-aviation businesses
while not completely exiting
non-aviation infrastructure
segments. As part of restruc-
turing through demerger and
deleveraging, it wants to place
non-aviation business under
GMR Power & Urban Infra,
while having an independent
aviation company. GIL is cur-
rently the holding company
for all its businesses.
Total consideration for the
sale of equity stake as well as
the sub -debt in Kakinada SEZ
is ~2,610 crore, the company
said in a statement. Of the
total consideration, ~1,600
crore would be received on the
closing date and the balance
over the next two to three ye-
ars, which is contingent upon
certain agreed milestones
related to regulatory appro-
vals and other conditions.
GMR Infrastructure has
gross debt of about ~32,100

UF*I>
ASBA* of Application- Make use applying to issues by simply blocking the fund in the bank account, investors from January 01,2016
hensive to invest in a sunrise Mahindra. While China acco- of a swathe of state-owned crore and net debt of ~26,300
of ill!! can avail the same. For details, check section on ASBA below. No cheque will be accepted.
industry," the proposal said. unts for 80 per cent of the wor- companies. REUTERS crore as of March 2020.

NTPC drops plan to

UPI - Now mandatory in ASBA for Retail Investors applying through Registered Brokers, DPs and RTAs. Retail Investors also have the option
to submit the application directly to the ASBA Bank (SCSBs) or to use the facility of linked online trading, demat and bank account.

u/meomvMBnsiNTBiiacE
Cabinet panel

bid for BSES discoms

The Offer is being made through the Fixed Price process wherein 50% of Net Offer of the Equity Share offered are reserved for allocation to Applicants below or equal
to ? 2.00 lakhs and the balance for higher amount Applicants. The Offer comprises a Net Issue to Public of 14,27,200 Equity Shares of Y 1 0 each ("the Net Offer")
and a reservation of 76,800 Equity Shares of ^ 10 each for subscription by the designated Market Maker ("the Market Maker Reservation Portion"). The Offer and the okays rejigging
Net Offer will constitute 30.48% and 28.93%, respectively of the Post Offer Paid-up Equity Share Capital of the Company. Allocation to all categories shall be made on
a proportionate basis subject to valid Application received at or above the Offer Price. Under subscription, if any, in any of the categories, would be allowed to be met
with spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Managers and Designated
of SAIL board
ADITI DIVEKAR
Stock Exchange. Such inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All Investors shall participate
in this Offer only through the ASBA process. For details in this regard, specific attention is invited to "Offer Procedure" on page no. 187 of the Prospectus. Applicants Mumbai, 25 September
should ensure that DP ID, PAN, UPI ID (if applicable, in case of Rlls) and the Client ID are correctly filled in the Application Form. The DP ID, PAN and Client ID provided SHREYAJAI tricity regulator—Odisha Elect-
in the Application Form should match with the DP ID and Client ID available in the Depository database, otherwise, the Application Form is liable to be rejected. Applicant The Appointments Commi- New Delhi, 25 September STRATEGYCHANGE ricity Regulatory Commission
should ensure that the beneficiary account provided in the Application Form is active. Applicants should note that on the basis of the PAN, DP ID and Client ID as ttee of the Cabinet (ACC) on — is bidding out rights to dis-
provided in the Application Form, the Applicant may be deemed to have authorized the Depositories to provide to the Registrar to the Offer, any requested Demographic Friday approved restructur- State-owned NTPC, India's • R e l i a n c e Infra r u n s t w o
tribute electricity. Odisha
Details of the Applicant as available on the records of the depositories. These Demographic Details may be used, among other things, for any correspondence(s) related ing of the board of Steel largest power generator, has discoms in Delhi - BSES recently offered three of its dis-
to the Offer. Applicants are advised to update any changes to their Demographic Details as available in the records of the Depository Participant to ensure accuracy of Authority of India (SAIL). dropped its plan to buy out Yamuna Power and BSES coms — Northco, Southco, and
PROMOTER OF THE COMPANY: MR. VIJAYGOPAL ATAL
records. Any delay resulting from failure to update the Demographic Details would be at the Applicants' sole risk. The four positions of Reliance Infrastructure stake in Rajdhani Power—jointly Wesco — for sale. Tata Power
PROPOSED LISTING: The Equity Shares issued through the Prospectus are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited chief executive officers of two power distribution licence with Delhi govt and India Power placed bids for
("NSE"). Our Company has received an In-principle approval letter dated March 17, 2020 from NSE for using its name in the Offer Document and for listing of our integrated steel plants of the areas in Delhi. these discoms. Tata Power in
shares on the Emerge Platform of National Stock Exchange of India Limited. For the purpose of this Offer, the designated Stock Exchange will be the National Stock company are to be elevated The power retailing rights • NTPC h a d in May
shown interest in the
December last year won the
Exchange of India Limited. as functional directors. They are currently controlled by joint licence for retailing electricity
DISCLAIMER CLAUSE OF SEBI: Since the Offer is being made in terms of Chapter IX of the SEBI (ICDR) Regulations, 2018, the Draft Offer Document was not filed will be designated as direc- ventures of Reliance Infrastru- sale ofmajority stake in in Bhubaneswar, Cuttack, Para-
with SEBI. In terms of the SEBI Regulations, the SEBI shall not Offer any observation on the Offer Document. Hence there is no such specific disclaimer clause of SEBI. tors-in-charge of Bokaro, cture and the state government. the two discoms deep, and Dhenkanal in Odisha.
However investors may refer to the entire Disclaimer Clause of SEBI beginning on page no. 173 of the Prospectus. Rourkela, Bhilai, and one NTPC had in May showed • RInfra r e m o v e d According to reports, DERC
DISCLAIMER CLAUSE OF NSE (DESIGNATED STOCK EXCHANGE): It is to be distinctly understood that the permission given by NSE should not in any way be deemed
director-in-charge jointly for interest in the stake sale but has consultancy firm KPMG has refused to oversee the sale
or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer
Burnpur and Durgapur steel now cited "lack of transparent from the sale process process of BSES discoms. DERC
Document. The investors are advised to refer to the Prospectus on page no. 174 for the full text of the 'Disclaimer Clause of NSE'.
plants, the steel ministry process" for not taking part in and is yet to appoint a
could not be reached for an offi-
GENERAL RISK: Investment in equity and equity-related securities involve a degree of risk and investors should not invest any funds in the Offer unless they can
afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in the Otter. For taking an
said in its release. the bidding. It is, however, look- replacement
cial comment.
investment decision, investors must rely on their own examination of our Company and the Offer, including the risks involved. The Equity Shares in the Offer have not The approved restructur- ing to take part in the discoms Reliance Infrastructure
been recommended or approved by the Securities and Exchange Board of India ("SEBI"), nor does SEBI guarantee the accuracy or adequacy of the Prospectus. Specific ing of the SAIL Board also bidding in two Union territories • NTPC is n o l o n g e r owns 51 per cent each in both
attention of the investors is invited to "Risk Factors" beginning on page no. 18 of the Prospectus. involves merging the func- — Puducherry and Chan- evaluating it as Delhi the power distribution compa-
ADDITIONAL INFORMATION AS REQUIRED UNDER SECTION 30 OF THE COMPANIES ACT, 2013 tions and duties of the post digarh. Company sources said Electricity Regulatory nies. The rest is owned by the
Main Objects of the Company as per MoA: For information on the main objects and other objects of our Company, see "History and Certain Corporate Matters" on page of director (raw materials NTPC dropped the plan bec- Commission is not New Delhi government through
no. 101 of the Prospectus and Clause III of the Memorandum of Association of our Company. The Memorandum of Association of our Company is a material document and logistics) and that of ause the bidding was not being overseeing the sale
Delhi Power Company.
for inspection in relation to the Offer. For further details, see the section "Material Contracts and Documents for Inspection" on page no. 222 of the Prospectus. director (projects and busi- conducted by the Delhi process
Discoms in Delhi were pri-
Liability of Members as per MoA: The Liability of the members of the Company is Limited. ness planning) with the post Electricity Regulatory Comm- vatised in 2002 when two went
Capital Structure: Authorised Capital ? 5,13,00,000 consisting of 51,30,000 Equity Shares of ? 10 each. Pre Otter Capital: Issued, Subscribed and Paid-up Capital of director (technical) and its ission (DERC). • NTPC w o u l d t a k e p a r t to Reliance Infra and one to
Y 4,63,00,000 consisting of 46,30,000 Equity Shares of Y 1 0 each. Post Offer Capital: Issued, Subscribed and Paid-up Capital Y 4,93,40,000 consisting of 49,34,000 consequent re-designation "BSES is a public utility and in the discoms bidding in Tata Power. In central Delhi
Equity Shares of ^ 10 each. For details of the Capital Structure, please refer to the chapter titled "Capital Structure" beginning on page no. 53 of the Prospectus. as director (technical, proj- thereby we expected the bid- Puducherry and area of the city, New Delhi
Names of the signatories to the Memorandum of Association of the Company and the number of Equity Shares subscribed by them: Mr. Vijaygopal Atal and ects and raw materials). ding to be held by DERC. As Chandigarh, instead Municipal Corporation runs the
Mrs. Sujata Atal were the signatories of the Memorandum of Association of the Company. The above subscribers to the memorandum held 5,100 Equity Shares and The re-structured board that is not happening, we are power distribution.
4,900 Equity Shares of Y10/-, respectively and collectively 10,000 Equity Shares of Y10/- each. For details see the Chapter "Capital Structure" on beginning on page of directors of SAIL will con- no longer evaluating it in our In June, Reliance Infra rem-
no. 53 of the Prospectus. For details of the main objects of the Company as contained in the Memorandum of Association, see "History and Certain Corporate Matters" sist of chairman, director business plans," said a company — BSES Yamuna Power and oved consultancy firm KPMG

* @
on page no 101 of the Prospectus. (finance), director (commer- executive. Industry sources, BSES Rajdhani Power. NTPC from the sale process of the
LEAD MANAGERS TO THE OFFER REGISTRAR TO THE OFFER cial), director (technical, proj- however, said the sale process mentioned in its letter that it BSES discoms, and has not
ect and raw materials), direc- was now on hold. was keen on BSES discoms, pro- appointed any new consultant
tor (personnel), directors In May, NTPC had written vided "the equity sale is done since. In 2017, Reliance Infra
^'ALACTICO in-charge of ISPs, and non- to DERC expressing its interest through a transparent process". sold its power distribution
FINANCIAL SERVICES LTD official directors as per the in the sale of majority stake in Executives said the sale business of Mumbai to Adani
ARYAMAN FINANCIAL SERVICES LIMITED. GALACTICO CORPORATE SERVICES LIMITED BIGSHARE SERVICES PRIVATE LIMITED Companies Act 2013 and two Reliance Infrastructure-pro- process ofBSES discoms should Electricity, a wholly-owned
2nd Floor, Shree Gurudev Tower, Above Shirpur Co-op. 1st Floor, Bharat Tin Works Building, Opp. Vasant government nominee direc- moted two power distribution follow the same model as subsidiary of Adani
60, Khatau Building, Ground Floor, Alkesh Dinesh
Modi Marg, Fort, Mumbai - 400 001.
Bank Ltd, Canada Corner, Nashik - 422 002 Oasis, Makwana Road, Marol, Andheri East, tors as per the DPE policy. companies (discoms) in Delhi Odisha where the state's elec- Transmission.
Mumbai - 400 059 | Tel: +91 - 22 - 6263 8200

Agritechfirms see hope infarm Bills

Tel: +91 - 2 5 3 - 231 9714
Tel: +91 - 2 2 - 6 2 1 6 6999
Email: info@galacticocorp.com Email: ipo@bigshareonline.com
Email: ipo@afsl.co.in Investor Grievance Email:
For Investor Grievances:
Investor Grievance Email: feedback@afsl.co.in investorgrievance@galacticocorp.com investor@bigshareonline.com
Website: www.afsl.co.in Website: www.galacticocorp.com Website: www.bigshareonline.com
SEBI Registration No.: INM000011344 SEBI Registration No.: INM000012519 SEBI Registration No.: INR000001385
Contact Person: Mr. Pranav Nagar/ Ms. Kruti Bhatt Contact Person: Mr. Ajinkya Joglekar Contact Person: Mr. Ashish Bhope

COMPANY SECRETARY AND COMPLIANCE OFFICER PEERZADAABRAR & SAI ISHWAR Bengaluru-based CropIn has
Mr. Sushil Ladda Bengaluru & Mumbai, 25 September digitised over 6.1 million acres of
Shop No. 1, Sumangal Builder House, Holaram Colony, Sadhu Vaswani Road, Nashik - 422002 farmland and enhanced the
Tel: +91 - 253 - 231 2627 | Email id: cs@atalrealtech.com | Website: www.atalrealtech.com India's top agriculture technol- lives of nearly 2.1 million farm-
ogy (agritech) companies have ers. It has gathered data on 388
Applicants can contact the Compliance Officer or the Registrar to the Offer in case of any Pre- Offer or Post- Offer related problems, such as non-receipt of Allotment Advice or
credit of allotted Equity Shares in the respective beneficiary account or unblocking of funds, etc.
welcomed the farm Bills intro- crops and 9,400 crop varieties in
duced by the government. over 52 countries.
AVAILABILITY OF PROSPECTUS: Investors should note that investment in Equity Shares involves a high degree of risk and investors are advised to refer to the
These firms said the three Bills Three agriculture-related
Prospectus and the Risk Factors contained therein, before applying in the Otter. Full copy of the Prospectus is available on the websites of the Company, the Lead
aim to bring major reforms in Bills have been introduced by
Managers, the SEBI and the Stock Exchange at www.atalrealtech.com,www.afsl.co.in,www.galacticocorp.com,www.sebi.gov.in and www.nseindia.com respectively.
the agricultural structure of the the government amid protests
AVAILABILITY OF APPLICATION FORMS: Application forms can be obtained from the Registered Office of the Company and Office of the Lead Managers, Aryaman
Financial Services Limited and Galactico Corporate Services Limited. Application Forms can also be obtained from the Stock Exchange and list of SCSBs available on
country. from the Opposition. These
the website of SEBI at www.sebi.gov.in and website of Stock Exchange at www.nseindia.com.
The intention, they felt, is to include 'The Farmers' Produce
BANKER TO THE OFFER & SPONSOR BANK: ICICI Bank Limited accelerate growth in the sector technology, including Cloud, big from middlemen costs, and also Trade and Commerce (Promo-
All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Prospectus dated September 24,2020. through private investment. It data, artificial intelligence and expand their market reach tion and Facilitation) Bill 2020,
For Atal Realtech Limited
will help build infrastructure blockchain to bring traceability beyond mandis and govern- The Farmers (Empowerment
On behalf of the Board of Directors
and supply chains for farm pro- along the supply chain, slash ment-controlled markets," said and Protection) Agreement On
Place: Nashik Sd/- duce in the national and global food wastage and help farmers Kumar, whose firm is playing a Price Assurance and Farm
Date: September 25,2020 Managing Director markets, they said. increase crop yields. key role in the agriculture sector. Services Bill 2020 and The
They added that the aim is to "Through these (Bills), Using cutting-edge technol- Essential Commodities (Am-
ATAL REALTECH LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other
considerations, to make a Public Offer of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Mumbai. The Prospectus shall be available on
help small-holder farmers get a Indian farmers are set to accel- ogy like artificial intelligence, endment) Bill 2020.
the websites of the Company, the NSE and the Lead Managers at www.atalrealtech.com,www.nseindia.com,www.afsl.co.in and www.galacticocorp.com respectively. better price for their produce, erate their incomes and get their machine learning, and remote The Bills allow farmers to get
Applicants should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the Prospectus, including, the section and through technology, imp- farms working at the fullest sensing, CropIn creates an inter- into contract farming with agri-
titled "Risk Factors" beginning on page no. 18 of the Prospectus. rove their farm productivity. lucrative potential," said connected network for the business firms and large retail
The Equity Shares have not been and will not be registered under the U.S. Securities Act 1933, as amended (the "Securities Act") or any state securities laws in the These Bills are also expected to Krishna Kumar, founder and stakeholders. This enables cus- producers on pre-agreed prices.
United States and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S of the Securities create opportunities for the chief executive officer (CEO) of tomers like banks, government, They also protect them from any
Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Equity Shares will be young firms in areas ranging CropIn, an agritech company. farming companies and retail- fraudulent agreements. New age
offered and sold (i) in the United States only to "qualified institutional buyers", as defined in Rule 144A of the Securities Act, and (ii) outside the United States in offshore from supply chain, warehous- "The Bills make it easier for ers to analyse and interpret data firms are removing middlemen
transactions in reliance on Regulation S under the Securities Act and in compliance with the applicable laws of the jurisdiction where those offers and sales occur.
ing to logistics and e-commerce. farmers to fetch the right price to derive real-time actionable and connecting farmers directly
The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be ottered or sold, and
Applicants may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.
These firms use cutting-edge for their produce, free them insights on standing crops. to businesses.
Raka
.
NEW DELHI | 26 SEPTEMBER 2020 ECONOMY & PUBLIC AFFAIRS 5 <

RBI devolves 10-yr LIC, GIC, New India Assurance ‘too big to fail’
bond sale for the SUBRATA PANDA
Mumbai, 25 September SYSTEMICALLY IMPORTANT
Ashvin Parekh, managing partner,
Ashvin Parekh Advisory, said,

4th straight time The Insurance Regulatory and

10-YEAR BOND DEVOLVEMENTS
Source: RBI
ANUP ROY
Mumbai, 25 September
The Reserve Bank of India
(RBI) refused to sell 10-year
bonds at Friday’s primary auc-
tion for the fourth time in a
row, a day after it scrapped a
bond purchase programme
from the secondary market
even as it received more than
their profits through lending
operations and not just from
the treasury as the second
quarter comes to an end,” said
a senior bond trader who did
not want to be named.
The RBI had planned a
~30,000-crore bond sale on
Friday through different tenor
bonds. Of the ~18,000 crore of
10-year sale planned, the RBI
Development Authority of India
(Irdai) has identified Life Insurance
Corporation (LIC), General
Insurance Corporation (GIC Re) and
New India Assurance as systemically
important insurers in the domestic
market for 2020-21.
These insurers will now be sub-
jected to additional regulatory meas-
ures to deal with systemic risks and
moral hazard issues.
The regulator has asked the three
insurance companies to raise their
corporate governance levels, identify
all relevant risks, and promote a sound
risk management culture, given their
importance and size, which makes
them too big to fail.
Domestic insurers whose market
size, market importance, and domes-
tic as well as global interconnected-
ness make them “too big” or “too
important”, and whose failure would
cause a significant dislocation in the
domestic financial system, are iden-
tified as domestic systemically impor-
tant insurers (D-SIIs). “Therefore, the
continued functioning of D-SIIs is crit-
ical for the uninterrupted availability
of insurance services to the national
economy,” Irdai said.
“D-SIIs are perceived as insurers
that are too big or too important to fail.
This perception and the perceived
n LIC, GIC Re, and New India Assurance get
‘systemically important insurers’ tag
n These entities will be subjected to enhanced
regulatory supervision
n They have been asked to raise their corporate
governance levels, and promote a sound risk
management culture
n Irdai has set parameters based on
which systemically important insurers
will be identified
n This exercise will be done on an annual basis
n The regulator will come out with further
guidelines for these entities
ILLUSTRATION: BINAY SINHA
expectation of government support good for us and we are pleased with
may amplify risk taking, reduce mar- the regulator’s decision but with
ket discipline, create competitive dis- greater recognition comes greater
tortions, and increase the possibility responsibility.” “Irdai will come out
of distress in future,” the regulator with further instructions on this sub-
further said. Hence, there is a need to ject. Once it comes out with the
subject D-SIIs to enhanced regulatory instructions, all the entities have to
supervision. comply with them,” said a senior insur-
A senior GIC Re official said, it’s ance executive aware of the matter.
“Now, the regulator will require
closer supervision on account of the
disruption it may cause, should any
systemic risk arise to any of these
entities. This principle, in some form
or the other, has been emulated from
the banking system and flows origi-
nally from the Basel thinking. For any
financial institution, which has a sig-
nificant size, the regulator would
expect a higher order of supervision
and reporting.”
The regulator has developed a
mechanism for identification and
supervision of D-SIIs. The parameters
include size of operations in terms of
total revenue, including premium
underwritten and the value of assets
under management; global activities
across more than one jurisdiction; lack
of substitutability of their products
and/or operations; and interconnect-
edness through counterparty expo-
sure and macro-economic exposure.
“These parameters were assigned
weights to cover various aspects of
their operations,” said the regulator.

Faceless income-tax Centre plans

six times the bid for its
~10,000-crore open market
operation (OMO).
The central bank did not
want to sell the 10-year bonds
at the market ask on Friday,
like the previous three times,
rejected bids for ~17,863.90
crore. The remaining ~12,000-
crore auctions through other
bonds were conducted
smoothly. The 10-year bond
sales are being held every fort- tweaks to road
assessment goes live
night. On September 11, the

even as it is letting the other
bonds being sold to investors.
The securities had to be
bought by the underwriters
of the bonds, mainly primary
dealers. With Friday's auc-
tion, the borrowing pro-
gramme for the first half of
monetisation
RBI had similarly rejected
almost the entire batch of the
10-year bonds. Before that, on
August 14 and on August 28,
the RBI had refused to oblige MEGHA MANCHANDA for a ~3,500-crore loan facility
the market ask. INDIVJAL DHASMANA Appellate Tribunal (ITAT),” said an official. New Delhi, 25 September to part fund the upfront fee.
What is surprising the New Delhi, 25 September The commissioner of appeals will be Under the TOT model, the
market, though, is that the allowed to take the help of technical units, The Union government is concessionaire pays a one-time

the financial year 2020-21
(April-September 2021, or
H2FY21) comes to an end.
Calendar for the second half
is expected soon.
Bond dealers say the cen-
tral bank has singled out the
10-year security as a marquee
rate-setting bond and is trying
to put out a forceful rate signal.
“Somehow, it is also a signal
to banks that they must earn
central bank is not even ready
to give the existing yields in
the market. The cut-off for
the 10-year bond was set at
6.0095 per cent. But the 10-
year bond yield closed at
6.0384 per cent. This shows
that the RBI is not happy with
even the market yields and is
telling the bond market loud
and clear that the yields need
to come down, say dealers.
A
ll appeals up to the level of com- comprising chief commissioner-level planning to further sweeten fee upfront to the government
missioner of income tax (Appeals) officers, which are tasked with giving contract terms for toll-operate- for gaining toll rights for 30
— except for those relating to officers legal and sectoral advice. transfer (TOT) investors years. The funds the govern-
serious fraud, major tax evasion, sensitive Personal hearing might be allowed in because it wants to devise a ment receives from highway
search matters, and black money — went certain cases through video-conferencing, mechanism that would allow monetisation are used for new
faceless from Friday. This is the first level after approval of the principal chief com- developers to have the first infrastructure programmes
of appeal in the income tax (I-T) system missioner or chief commissioners of right, along with that of the such as the Bharatmala. In
against orders of assessing officers. income tax. The faceless appeal will not lenders, to funds in the case of 2016, the Cabinet Committee
The facility was introduced over a only provide great convenience to tax- default. Besides, it wants to on Economic Affairs had
month ago by Prime Minister Narendra payers but will also ensure just and fair offer a TOT project in two pack- authorised the National
Modi. This means that the I-T appeals appeal orders and minimise further liti- ages of toll operatorship and Highways Authority of India
right from allocation of appeal, commu- gation, finance ministry said. anchor investment. The move (NHAI) to monetise publicly
nication of notice/questionnaire, verifica- However, experts aren’t convinced. is expected to attract interna- funded national highway proj-
tion/ enquiry to hearing and finally com- Rakesh Nangia, chairman of Nangia tional investors. ects. Currently, 75 operational
munication of the order will be online. Andersen India, said the scheme comes The road developer will be national highway projects

350 Sebi officials keen to
join IFSCA, told to quit first
The Securities and Exchange
Board of India (Sebi) has
rejected as many as 350 appli-
cations from its officials, seek-
ing to join the International
Financial Services Centres
Authority (IFSCA), a newly
formed unified authority
which regulates the govern-
ment’s ambitious project —
GIFT City institutions.
Sources say the human
resources department of
Sebi received applications
from officers of various
grades, showing interest in
joining the new regulator on
deputation. But the depart-
ment returned their applica-
tions and asked them to
apply directly after resign-
ing from Sebi.
In an email response to
Business Standard, a Sebi
spokesperson said “The reg-
ulator has already approved
deputation of three senior
officers to the IFSCA.”
“The competent authority
has decided not to entertain
applications for deputation to
the IFSCA. Interested officers
may apply to it on direct
recruitment basis, pursuant
to obtaining a no-objection
certificate from the HR
department,” said an officer
who received the response on
application.
Sebi also said that such
applications shall be gov-
erned under Regulation 54 of
Sebi’s employees’ services
rules. SHRIMI CHOUDHARY
The faceless appeals system will into effect in full force without any pilot.
include allocation of cases through data “A pilot phase would have provided con-
analytics and artificial intelli- structive feedback from the KEY TAKEAWAYS
tasked with the operation, completed through public
maintenance and manage- funding have been identified
ment of the contract. for monetisation using the
gence to dynamic jurisdiction
with central issuance of Personal hearing
stakeholders before the final
launch pan-India,” he said. > I-T appeals right from allocation of
“A global pension fund or TOT model.
any other investment can park The first TOT bundle was
notices, which will have doc- might be allowed Amit Maheshwari, part- appeal, communication of its funds in a bagged by a joint
ument identification numbers in certain cases ner, AKM Global, said discus- notice/questionnaire, verification/ TOT project venture between
(DINs). through video- sion in person becomes and managerial Macquarie and
As part of the dynamic conferencing, important at the first stage of
enquiry to hearing and finally and adminis- Ashoka Buildcon
jurisdiction, the draft appel- after approval of appeal. “In the case of face- communication of the order trative work can for ~9,680 crore. The
late order will be prepared in the principal chief less appeal proceedings, most will be online be done by a company’s bid was
one city and reviewed in commissioner discussions generally happen domestic com- 1.5 times the base
another city, and is expected or chief electronically without any > Faceless appeals system will include pany,” a senior Road developer will price of ~6,260
to result in an objective, fair, commissioners personal interaction, which allocation of cases through data road ministry be tasked with the crore.
and just order, the finance of income tax ends up making the issue analytics and artificial intelligence official told operation, maintenance “Earlier there
ministry said. more complex,” he said. Business and management of was no mandate to
The order passed by CIT However, a senior official of > The commissioner of appeals will be Standard. the contract have a similar struc-
(Appeals) will run through the risk man- the Central Board of Direct Taxes (CBDT) In the case of ture, but from now
allowed to take the help of technical
agement system (RMS), which uses artifi- said assessees are used to face-to-face default, the developer, along on there will be and we will
cial intelligence to flag outliers and picks hearing, whereas now they will need to units, comprising chief with the Union government also ensure that everyone’s
up cases that require a review. RMS is sup- develop their writing. commissioner-level officers and lenders, will have an equal interest is safeguarded. The
ported by Tata Consultancy Services. Cases According to CBDT data, about compensation right. Earlier, project operator will have a
that require review according to the RMS 460,000 appeals are pending at the com- > According to CBDT data, about the lenders had the first lien, pari passu right like that of a
will be sent to a commissioner of appeals missioner of appeals level as on date. 460,000 appeals are pending followed by the government lender,” the official quoted
in a different city. “Based on the faceless Of this, about 405,000 appeals, or 88 at the commissioner of appeals and government agencies. The above added. Besides this pro-
appeals order, either the department or a per cent of appeals, will be handled Ministry of Road Transport posal, the Union government
taxpayer can move the Income Tax through the faceless mechanism. level as on date and Highways is of the view recently cleared changes in the
that this move would encour- model concessionaire agree-
age domestic highway devel- ment for TOT projects, which
opers to forge ties with inter- include not disclosing the ini-

SC orders CERC to remain under suspension for one more month
SHREYA JAI commissions to appoint a member
New Delhi, 25 September from the field of law with qualifica-
tions of a high court or district judge.
The Supreme Court on Friday sus- However, the ministry of power,
pended the Central Electricity which appoints members in the
Regulatory Commission (CERC) for CERC, failed to do so. The ministry
at least a month as it failed to appoint advertised for vacancy of member
a member (law). (law) for CERC in April 2019 and
The apex court said the earlier October 2019. But the selection com-
judgment of August 28, 2020, would mittee did not finalise any candidate
continue to remain in force till and cancelled the process.
October 26 or till the time a member Meanwhile, two other non-law
(law) is appointed. Case hearing at members – I S Jha, former chairman
CERC had already halted since and managing director, Power Grid
August 28. The matter pertains to a Corporation, and Arun Goyal, retired
Supreme Court order in April 2018 secretary, Government of India, were
when it directed all state electricity appointed.
A contempt petition was filed by
K K Agarwal and argued by advocate
Ravi Sharma in August against the
central government for not appoint-
ing a legal member.
The apex court, on August 28,
directed the two other members to
go on leave till a legal member is
appointed, thereby suspending func-
tioning of the CERC. The regulator
has a chairman, and two other
members are needed to complete the
quorum for conducting hearings.
In its order on Friday, the
Supreme Court said, “We are thus not
inclined to vary the arrangement
made vide order dated 28th August,
2020, which shall continue till such
time as the person of law is so
appointed. We consider appropriate
to place the matter on 26th October,
2020, for further directions with the
hope that the process will be com-
pleted by that time.”
Speaking with Business Standard,
advocate Sharma said the Supreme
Court has taken the firm’s view if
sanctity of their order dated April
2018 will be maintained.
“The Supreme Court dismissed
the prayers of the central govern-
ment to allow technical members
to resume office with the observa-
tion that the government has not
only failed to appoint members in
electricity tribunals but also failed
to appoint members in other tribu-
nals in this country in due time,”
Sharma said.
national investors. tial estimated concession
The government had to ear- value before the bidding pro-
lier cancel the second package cess for TOT bids.
of TOT because of a tepid The request for proposal of
response while the third pack- future TOT projects has also
age ran into funding troubles been revised and authorises
for Singapore-based operator the NHAI to monetise publicly
Cube Highways. The company funded national highway con-
had to make an upfront pay- tracts that are operational and
ment of ~5,011 crore for nine are collecting toll for at least
highway stretches, which it one year after the commercial
had won under auctions held operation date. The NHAI is
last November. The due date authorised to vary the conces-
for making the payment was sion period between 15 and 30
mid-April but it invoked the years, depending on project
force majeure clause to get an features.
extension. Earlier this month, It is allowed to raise long-
the firm announced financial term finance from banks by
closure after it signed an agree- securitising user fee receipts
ment with State Bank of India from toll plazas.

Protests over farm Bills continue; PM accuses Opposition of ‘lying’

Modi tells BJP workers
to reach out to farmers,
bust propaganda
AGENCIES
New Delhi, 25 September
Thousands of farmers across the
country staged protests against the
three agriculture legislation recently
passed in Parliament.
Though the protests were held in
several parts of the country, the intensity
was more in Punjab, Haryana and
western Uttar Pradesh. Farmers had
called a Bharat Bandh on Friday in
protest against the Bills.
Prime Minister Narendra Modi,
meanwhile, addressing BJP workers,
kept up his offensive against the
Opposition, saying that those who always
“lied” to farmers are now “shooting from
their shoulders” and misleading them for
Farmers held demonstrations in many parts of the country and blocked highways leading to New Delhi using trucks, tractors and combine harvesters.
their political benefit. He also asked BJP
workers to reach out to farmers on the
ground and inform them about the
details and benefits of the new
agriculture reforms and how these will
empower them. Farmers want a
provision in the Bills that will ensure
assured purchase at minimum support
price (MSP) even outside the mandis.
In Punjab and Haryana, farmers
blocked roads, including highways, to
press the Centre for the withdrawal of the
legislations, which are yet to get the
assent of the President.
The Punjab Bandh call got support
PHOTOS: PTI
from government employees' unions,
singers, commission agents, labourers
and social activists. Shops, commercial
establishments and vegetable markets
at many places remained shut. Buses of
the state-owned Pepsu Road Transport
Corp remained off-road in Punjab.
SAD chief Sukhbir Singh Badal drove
a tractor while his wife and former Union
minister Harsimrat Kaur Badal sat
beside him in Muktsar district. Sukhbir
led a tractor march from his residence in
Badal village to Lambi where the party
had organised a protest against the Bills.
In Barnala, a tractor was set on fire.
Punjab farmers blocked the Sangrur-
Patiala, Chandigarh-Bathinda and
Ambala-Rajpura-Ludhiana and Moga-
Ferozepur roads. In Haryana, farmers
blocked the Rohtak-Jhajjar road. In
Western UP, hundreds of farmers
gathered on a key road in Noida,
prompting the deployment of police in
riot gear that kept them from
proceeding towards Delhi.
In Left-ruled West Bengal, members
of farmers' bodies loyal to the Left
parties staged protests in various parts.
In Kerala also, farmers staged
widespread protests.
6 NEW DELHI | 26 SEPTEMBER 2020 1

EIH Limited
This is only an advertisement for information purposes and for publication, distribution or release directly or indirectly outside India. This is not an announcement for the offer document. All capitalized terms used and not defined herein shall have the meaning assigned to them in the Letter of Offer dated
September 21, 2020 (the "Letter of Offer" or the"LoF' filed with stock exchanges namely BSE Limited ("BSE"), The Calcutta Stock Exchange Limited ("CSE") and National Stock Exchange of India Limited ("NSE" and together with BSE and CSE, "Stock Exchanges") and Securities Exchange Board of India ("SEBI").

A MEMBER O F THE OBEROI GROUP

EIH LIMITED
EIH Limited ("Our Company") was incorporated a s 'The East India Hotels Limited' on May 26,1949, at Kolkata, a s a public limited company under the Companies Act, 1913. The name of our Company was changed to 'EIH Limited'with effect from November 1,1996.
For details of changes in our name and the registered office of our Company, see "History and Other Corporate Matters" on page 85 of the Letter of Offer.
R e g i s t e r e d Office: 4 Mangoe Lane, Kolkata 700 001, West Bengal, India; Telephone: +91 33 4000 2200 | C o r p o r a t e Office: 7 S h a m Nath Marg, Delhi 110 054, India; Telephone: +91 11 2389 0505
C o n t a c t P e r s o n : S.N. Sridhar, Company Secretary and Compliance Officer; E-mail: isdho@oberoigroup.com; Website: www.eihltd.com; C o r p o r a t e Identity Number: L55101WB1949PLC017981

P R O M O T E R S O F O U R C O M P A N Y : PRITHVI RAJ SINGH OBEROI, SHIB SANKER MUKHERJI, VIKRAMJIT SINGH OBEROI, ARJUN SINGH OBEROI, DEEPAK MADHOK, ARAVALI POLYMERS LLP,
BOMBAY PLAZA PRIVATE LIMITED, OBEROI BUILDINGS AND INVESTMENTS PRIVATE LIMITED, OBEROI HOLDINGS PRIVATE LIMITED, OBEROI HOTELS PRIVATE LIMITED, OBEROI INVESTMENTS PRIVATE
LIMITED, OBEROI LEASING AND FINANCE COMPANY PRIVATE LIMITED, OBEROI PLAZA PRIVATE LIMITED AND OBEROI PROPERTIES PRIVATE LIMITED
| F O RPRIVATE CIRCULATION T O THE ELIGIBLE EQUITY S H A R E H O L D E R S O F EIH LIMITED |
I S S U E O F U P T O 53,794,768* E Q U I T Y S H A R E S O F F A C E V A L U E O F ¥ 2 E A C H O F O U R C O M P A N Y ( T H E "RIGHTS EQUITY S H A R E S " ) F O R C A S H A T A P R I C E O F ¥ 6 5 P E R R I G H T S E Q U I T Y S H A R E ( I N C L U D I N G A P R E M I U M O F ¥ 63 P E R R I G H T S E Q U I T Y S H A R E )
O F O U R C O M P A N Y F O R A N A M O U N T A G G R E G A T I N G U P T O ¥ 3,496,659,920* O N A R I G H T S B A S I S T O T H E E L I G I B L E E Q U I T Y S H A R E H O L D E R S O F O U R C O M P A N Y IN T H E R A T I O O F 8 R I G H T S E Q U I T Y S H A R E S F O R E V E R Y 8 5 F U L L Y PAID-UP E Q U I T Y
S H A R E ( S ) H E L D B Y T H E E X I S T I N G E L I G I B L E E Q U I T Y S H A R E H O L D E R S O N T H E R E C O R D D A T E , T H A T I S O N S E P T E M B E R 23, 2020 ( T H E "ISSUE"). F O R F U R T H E R D E T A I L S , S E E "TERMS OF THE I S S U E " O N P A G E 119 O F T H E L E T T E R O F O F F E R .
*Assuming full subscription in the Issue

NOTICE TO ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY

ISSUE OPENS ON: LAST DATE FOR ON MARKET RENUNCIATIONS*: ISSUE CLOSES 0N # :
TUESDAY, SEPTEMBER 29, 2020 THURSDAY, OCTOBER 08, 2020 TUESDAY, OCTOBER 13, 2020
*Pursuant to the Streamlining of Rights Issue Circular, SEBI has introduced the concept of credit of Rights Entitlements into the demat accounts of the Eligible Equity Shareholders, which can be renounced by them by way of On Market Renunciation or Off Market renunciation.
The credit of Rights Entitlements and Allotment of Rights Equity Shares shall be made only in dematerialized form. Further, due to the COVID-2019 pandemic, pursuant to the SEBI Rights Issue Circulars, SEBI has introduced certain relaxations for rights issues which will
open prior to December 31, 2020. Investors are encouraged to carefully follow all the necessary requirements under the SEBI Rights Issue Circulars and ensure completion of all necessary steps in providing/ updating their required details in a timely manner. For details,
please see "Terms of the Issue" on page 119 of the Letter of Offer.
** Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the Renouncees on or prior to the Issue Closing Date.
# Our Board or a duly authorized committee thereof will have the right to extend the Issue period as it may determine from time to time but not exceeding 30 (thirty) days from the Issue Opening Date (inclusive of the Issue Opening Date). Further, no withdrawal of Application
shall be permitted by any Applicant after the Issue Closing Date.

Simple, Safe, Smart way of making

ASBA
F a c i l i t i e s for A p p l i c a t i o n in t h e I s s u e :
an application - Make use of it
•Application supported by block amount (ASBA) is a better way of applying to issues by simply
blocking the fund in the bank account, for further details check section on ASBA below
In accordance with Regulation 76 of the SEBI ICDR Regulations, the SEBI Rights Issue Circulars and the ASBA Circulars, all Investors desiring to make an Application
in the Issue are mandatorily required to use either the ASBA process or the Registrar's web-based application platform ("R-WAP") (instituted only for resident
Investors in the Issue, in the event the Investors are not able to utilize the ASBA facility for making an Application despite their best efforts). Investors should carefully
read the provisions applicable to such Applications before making their Application through ASBA or using the R-WAP. For details, see "- Procedure for Application
through the ASBA Process? and "- Procedure for Application through the R-WAP' on pages 131 and 132 of the Letter of Offer respectively,
(i) A S B A Facility
Investors can submit either the Application Form in physical mode to the Designated Branch of the SCSBs or online/electronic Application through the website of the SCSBs
(if made available by such SCSB) authorizing the SCSB to block the Application Money in an ASBA Account maintained with the SCSB. Application through ASBA facility in
electronic mode will only be available with such SCSBs who provide such facility.
Investors should note that the ASBA process involves procedures that are different from the procedure under the R-WAP process. Investors applying through the ASBA
facility should carefully read the provisions applicable to such Applications before making their Application through the ASBA process. For details, see "- Procedure for
Application through the ASBA Process" on page 131 of the Letter of Offer.
Please note that subject to SCSBs complying with the requirements of SEBI Circular CIR/CFD/DIL/13/2012 dated September 25,2012, within the periods stipulated therein,
Applications may be submitted at the Designated Branches of the SCSBs. Further, in terms of the SEBI Circular CIFi/CFD/DIL/1/2013 dated January 2,2013, it is clarified
that for making Applications by SCSBs on their own account using ASBA facility, each such SCSB should have a separate account in its own name with any other SEBI
registered SCSB(s). Such account shall be used solely for the purpose of making an Application in the Issue and clear demarcated funds should be available in such account
for such an Application.
(ii) Registrar's Web based Application Platform
In accordance with SEBI circular SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6,2020, read with SEBI circular SEBI/H0/CFD/DIL1/CIR/P/2020/136 dated July 24,2020,
a separate web based application platform, i.e., the R-WAP facility (accessible at https://rights.kfintech.com), has been instituted for making an Application in the Issue by
resident Investors. Further, R-WAP is only an additional option and not a replacement of the ASBA process. At the R-WAP, resident Investors can access and submit the
online Application Form in electronic mode using the R-WAP and make online payment using their internet banking or UPI facilityftomtheir own bank account thereat.
PLEASE NOTE THAT ONLY RESIDENT INVESTORS CAN SUBMIT AN APPLICATION USING THE R-WAP. R-WAP FACILITY WILL BE OPERATIONAL FROM
THE ISSUE OPENING DATE. FOR RISKS ASSOCIATED WITH THE R-WAP PROCESS, SEE "RISK FACTORS - THE R-WAP PAYMENT MECHANISM FACILITY
PROPOSED TO BE USED FOR THE ISSUE MAY BE EXPOSED TO RISKS, INCLUDING RISKS ASSOCIATED WITH PAYMENT GATEWAYS" ON PAGE 44 OF THE
LETTER OF OFFER.
For guidance on the Application Process through R-WAP and resolution of difficulties faced by Investors, the Investors are advised to carefully read the
frequently asked questions, visit online/electronic dedicated investor helpdesk (https:/rights.kfintech.com) or call helpline number (1800 345 4001/+91 40 7961
5130). For details, see "Terms of the Issue - Procedure for Application through the R-WAP" on page 132 of the Letter of Offer.
Application by Eligible Equity Shareholders holding Equity S h a r e s in physical form:
In accordance with the SEBI Rights Issue Circulars, (a) the Eligible Equity Shareholders, who hold Equity Shares in physical form as on Record Date; or (b) the
Eligible Equity Shareholders, who hold Equity Shares in physicalformas on Record Date and who have not furnished the details of their demat account to the
Registrar or our Company at least two Working Days prior to the Issue Closing Date, desirous of subscribing to Rights Equity Shares may also apply in the Issue
during the Issue Period. Application by such Eligible Equity Shareholders is subject tofollowingconditions:
(i) the Eligible Equity Shareholders apply only through R-WAP; (ii) the Eligible Equity Shareholders are residents; (iii) the Eligible Equity Shareholders are not making
payment from non-resident account; (iv) the Eligible Equity Shareholders shall not be able to renounce their Rights Entitlements; and (v) the Eligible Equity Shareholders
shall receive Rights Equity Shares, in respect of their Application, only in demat mode.
Accordingly, such resident Eligible Equity Shareholders are required to, within 6 (six) months from the Allotment Date, send a communication to our Company or
the Registrar containing the name(s), Indian address, email address, contact details and the details of their demat account along with copy of self-attested PAN and
self-attested client master sheet of their demat account either by post, speed post, courier, electronic mail or hand delivery, to enable process of credit of Rights Equity
Shares in such demat account.
Such resident Eligible Equity Shareholders must check the procedure for Application by and credit of Rights Equity Shares in"- Procedure for Application by Eligible Equity
Shareholders holding Equity Shares in physical form" and"- Credit and Transfer of Rights Equity Shares in case of Shareholders holding Equity Shares in Physical Form
and disposal of Rights Equity Shares for non-receipt of demat account details in a timely manner" on pages 137 and 147, respectively.
APPLICATION SUPPORTED BY BLOCK AMOUNT (ASBA): An Investor, wishing to participate in the Issue through the ASBA facility, is required to have an ASBAenabled
bank account with an SCSB, priortomaking the Application. Investors can submit either the Application Form in physical modetothe Designated Branch of the SCSBs
or online/electronic Application through the website of the SCSBs (if made available by such SCSB) authorizing the SCSB to block the Application Money payable on the
Application in their respective ASBAAccounts withrespectiveSCSBs. Investors should ensure that they have correctly submitted the Application Form, or have provided an
authorisationtothe SCSB, via the electronic mode,torblocking funds in the ASBA Account equivalent to the Application Money mentioned in the Application Form, as the
case may be, at the time of submission of the Application.
For the list of banks which have been notified by SEBI to act as SCSBs tor the ASBA process, please refer to httos://www.sebi.aov.in/sebiweb/other/OtherAction.
do?doRecoqnisedFpi=yes8iintmld=34. For details on Designated branches of SCSBs collecting Application form, please refer the above-mentioned link.
ELIGIBLE EQUITY SHAREHOLDERS UNDER THE ASBA PROCESS MAY PLEASE NOTE THAT THE RIGHTS EQUITY SHARES UNDER THE ASBA PROCESS CAN
BE ALLOTTED ONLY IN DEMATERIALIZED FORM AND IN THE SAME DEPOSITORY ACCOUNT IN WHICH THE EQUITY SHARES ARE HELD BY SUCH ASBA
APPLICANT ON THE RECORD DATE.
APPLICATION ON PLAIN PAPER UNDER ASBA PROCESS: An Eligible Equity Shareholder who is eligible to apply under the ASBA process may make an Application
to subscribe to the Issue on plain paper. An Eligible Equity Shareholder shall submit the plain paper Application to the Designated Branch of the SCSB for authorising such
SCSB to block Application Money in the said bank account maintained with the same SCSB. Applications on plain paper will not be accepted from any address outside India.
Please note that the Eligible Equity Shareholders who are making the Application on plain paper shall not be entitled to renounce their Rights Entitlements and should not
utilize the Application Formtorany purpose includingrenunciationeven if it is received subsequently.
PLEASE NOTE THAT APPLICATION ON PLAIN PAPER CANNOT BE SUBMITTED THROUGH RWAP.
The application on plain paper, duly signed by the Eligible Equity Shareholder including joint holders, in the same order and as per specimenrecordedwith his bank, must
reach the office of the Designated Branch of the SCSB before the Issue Closing Date and should contain the following particulars:
1. Name of our Company, being EIH Limited; 2. Name and address of the Eligible Equity Shareholder including joint holders (in the same order and as per specimen
recorded with our Company or the Depository); 3. Registered Folio Number/DP and Client ID No.; 4. Number of Equity Shares held as on Record Date; 5. Allotment option -
only dematerialised form; 6. Number of Rights Equity Shares entitled to; 7. Number of Rights Equity Shares applied for within the Rights Entitlements; 8. Number of additional
Rights Equity Shares applied for, if any; 9. Total number of Rights Equity Shares applied for; 10. Total amount paid at the rate of ¥ 65 per Rights Equity Share; 11. Details of
the ASBAAccount such as the account number, name, address and branch of therelevantSCSB; 12. In case of NR Eligible Equity Shareholders making an application with
an Indian address, details of the NRE/FCNR/NRO Account such as the account number, name, address and branch of the SCSB with which the account is maintained;13.
ExcepttorApplications on behalf of the Central or State Government, theresidentsof Sikkim and the officials appointed by the courts, PAN of the Eligible Equity Shareholder
andtoreach Eligible Equity Shareholder in case of joint names, irrespective of thetotalvalue of the Rights Equity Shares appliedtorpursuant to the Issue; 14. Authorisation
to the Designated Branch of the SCSB to block an amount equivalenttothe Application Money in the ASBAAccount; 15. Signature of the Eligible Equity Shareholder (in
case of joint holders, to appear in the same sequence and order as they appear in therecordsof the SCSB); and 16. In addition, all such Eligible Equity Shareholders are
deemed to have accepted the following: "I/We understand that neither the Rights Entitlements nor the Rights Equity Shares have been, or will be, registered under the U.S.
Securities Ad of 1933, as amended (the "U. S. Securities Act"), or any United States state securities laws, and may not be offered, sold, resold or otherwise transferred within
the United States or to the territories or possessions thereof (the "United States"), except pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the U.S. Securities Act. I/we understand the Rights Equity Shares and the Rights Entitlements referred to in this application are being offered and sold
in offshore transactions outside the United States in compliance with Regulation S under the U.S. Securities Act ("Regulation S") to existing shareholders located in
jurisdictions where such offer and sale of the Rights Equity Shares and/or Rights Entitlements are permitted under laws of such jurisdictions. I/we understand that the Issue
is not, and under no circumstances is to be construed as, an offering of any Rights Equity Shares or Rights Entitlements for sale in the United States, or as a solicitation
therein of an offer to buy or transfer any of the said Rights Equity Shares or Rights Entitlements in the United States. I/we confirm that I am/we are (a) not in the United States
and eligibletosubscribe for the Rights Equity Shares under applicable securities laws, (b) complying with laws of jurisdictions applicable to such person in connection with
the Issue, and (c) understand that neither the Company, nor the Registrar, the Lead Manager or any other person acting on behalf of the Company will accept subscriptions
from any person, or the agent of any person, who appears to be, or who the Company, the Registrar, the Lead Manager or any other person acting on behalf of the Company
have reason to believe is in the United States or is outside of India and ineligible to participate in this Issue under the securities laws of their jurisdiction.
I/We will not offer, sell or otherwise transfer any of the Rights Equity Shares which may be acquired by us in any jurisdiction or under any circumstances in which such offer
or sale is not authorized or to any person to whom it is unlawful to make such offer, sale or invitation. I/We satisfy, and each account tor which l/we are acting satisfies,
(a) all suitability standards for investors in investments of the type subscribed for herein imposed by the jurisdiction of my/our residence, and (b) is eligible to subscribe and
is subscribing for the Rights Equity Shares and Rights Entitlements in compliance with applicable securities and other laws of my/our jurisdiction of residence,
l/we hereby make the representations, wananties, acknowledgments and agreements set forth in the section of the Letter of Offer titled "Restrictions on Purchases and
Resales" on page 156 of the Letter of Offer.
I/We understand and agree that the Rights Entitlements and Rights Equity Shares may not be reoffered, resold, pledged or otherwise transferred except in an offshore transaction Please note that neither our Company nor the Registrar nor the Lead Manager shall be responsiblefornon-dispatch of physical copies of Issue materials,
in compliance with Regulation S, or otherwise pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.
I/We acknowledge that we, the Lead Manager, its affiliates and others will rely upon the truth and accuracy of the foregoing representations and agreements."
In cases where multiple Application Forms are submitted for Applications pertainingtoRights Entitlements credited to the same demat account or in demat suspense escrow
account, including cases where an Investor submits Application Forms along with a plain paper Application, such Applications shall be liable to be rejected.
Investors arerequestedto strictly adheretothese instructions. Failure to do so could result in an Application being rejected, with our Company, the Lead Manager and the
Registrar not having any liability to the Investor. The plain paper Application format will be available on the website of the Registrar at httos://riohts.kfintech.com.
Our Company, the Lead Manager and the Registrar shall not beresponsibleif the Applications are not uploaded by SCSB or funds are not blocked in the Investors' ASBA
Accounts on or before the Issue Closing Date.
OVERSEAS SHAREHOLDERS: The distribution of the Letter of Offer, the Abridged Letter of Offer, the Application Form, the Rights Entitlement Letter, any other offering
material and the issue of Rights Entitlements and the Rights Equity Shares on a rights basistopersons in certain jurisdictions outside India isrestrictedby legal requirements
prevailing in those jurisdictions. Persons into whose possession the Letter of Offer, the Abridged Letter of Offer, the Application Form or the Rights Entitlement Letter may
come are required to inform themselves about and observe suchrestrictions.For details, see "Restrictions on Purchases and Resales" on page 156 of the Letter of Offer.
Our Company is making the Issue on a rights basis to the Eligible Equity Shareholders and will dispatch the Abridged Letter of Offer, the Application Form and other
applicable Issue material primarily to email addresses of Eligible Equity Shareholders who have provided an Indian addresstoour Company. Those overseas shareholders
who do not update our records with their Indian address or the address of their duly authorisedrepresentativein India, priortothe date on which we propose to e-mail or
send a physical copy of the Letter of Offer, the Abridged Letter of Offer, the Application Form and other applicable Issue materials shall not be sent the Letter of Offer, the
Abridged Letter of Offer, the Application Form and other applicable Issue materials. Further, the Letter of Offer will be provided, primarily through email, by the Registrar
on behalf of our Company or the Lead Manager to the Eligible Equity Shareholders who have provided their Indian addresses to our Company and who make arequestin
this regard. Investors can also access the Letter of Offer, the Abridged Letter of Offer and the Application Form from the websites of the Registrar, our Company, the Lead
Manager, and the Stock Exchanges, and on RWAP.
NO OFFER IN UNITED STATES: THE RIGHTS ENTITLEMENTS AND THE RIGHTS EQUITY SHARES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE U.S. SECURITIES ACT, OR ANY U.S. STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, RESOLD OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES, EXCEPT IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT. THE RIGHTS
ENTITLEMENTS AND RIGHTS EQUITY SHARES REFERRED TO IN THE LETTER OF OFFER ARE BEING OFFERED AND SOLD IN OFFSHORE TRANSACTIONS
OUTSIDE THE UNITED STATES IN COMPLIANCE WITH REGULATION S TO EXISTING SHAREHOLDERS LOCATED IN JURISDICTIONS WHERE SUCH OFFER
AND SALE OF THE RIGHTS EQUITY SHARES AND/OR RIGHTS ENTITLEMENTS ARE PERMITTED UNDER LAWS OF SUCH JURISDICTIONS. THE OFFERING
TO WHICH THE LETTER OF OFFER RELATES IS NOT, AND UNDER NO CIRCUMSTANCES IS TO BE CONSTRUED AS, AN OFFERING OF ANY RIGHTS EQUITY
SHARES OR RIGHTS ENTITLEMENT FOR SALE IN THE UNITED STATES OR AS A SOLICITATION THEREIN OF AN OFFER TO BUY OR TRANSFER ANY OF THE
SAID SECURITIES. ACCORDINGLY, YOU SHOULD NOT FORWARD OR TRANSMIT THE LETTER OF OFFER IN OR INTO THE UNITED STATES AT ANY TIME. THE
RIGHTS EQUITY SHARES AND/OR RIGHTS ENTITLEMENTS AND THE RIGHTS ENTITLEMENTS ARE NOT TRANSFERABLE EXCEPT IN ACCORDANCE WITH THE
RESTRICTIONS DESCRIBED IN THE SECTION ENTITLED "RESTRICTIONS ON PURCHASES AND RESALES" ON PAGE 156 OF THE LETTER OF OFFER.
Neither our Company, nor any person acting on behalf of our Company, will accept a subscription orrenunciationor purchase of the Rights Equity Shares and/or Rights
Entitlements from any person, or the agent of any person, who appearstobe, or who our Company, or any person acting on behalf of our Company, has reason to believe
is, in the United States when the buy order is made. No Application Form should be postmarked in the United States, electronically transmitted from the United States or
otherwise dispatched from the United States or from any other jurisdiction where it would be illegal to make an offer of securities under the Letter of Offer. Our Company
is making the Issue on a rights basis to the Eligible Equity Shareholders and will dispatch the Letter of Offer or the Abridged Letter of Offer, the Application Form and other
applicable Issue materials primarilytothe e-mail addresses of the Eligible Equity Shareholders who have provided an Indian addresstoour Company. Any person who
acquires Rights Entitlements or Rights Equity Shares will be deemed to have declared, warranted and agreed, by accepting the delivery of the Letter of Offer, that it is not and
that at the time of subscribingtorthe Rights Equity Shares or the Rights Entitlements, it will not be, in the United States and is authorized to acquire the Rights Entitlements
and the Rights Equity Shares in compliance with all applicable laws and regulations.
Any person who acquires Rights Entitlements or Rights Equity Shares will be deemedtohave declared, warranted and agreed, by accepting the delivery of the Letter of
Offer, that it is not, and that at the time of subscribingtorthe Rights Equity Shares or the Rights Entitlements, it will not be, in the United States, and is authorizedtoacquire
the Rights Entitlements and the Rights Equity Shares in compliance with all applicable laws and regulations.
Our Company and the Lead Manager are not making, and will not make, and will not participate or otherwise be involved in any offers or sales of the Rights Entitlements,
the Rights Equity Shares or any other security with respect to the Issue in the United States.
The Rights Entitlements and the Rights Equity Shares have not been approved or disapproved by the U.S. Securities and Exchange Commission (the "US SEC"), any state
securities commission in the United States or any other U.S.regulatoryauthority, nor have any of theforegoingauthorities passed upon or endorsed the merits of the offering of
the Rights Entitlements, the Rights Equity Shares or the accuracy or adequacy of the Letter of Offer. Anyrepresentationto the contrary is a criminal offence in the United States.
The above information is givenforthe benefit of the Applicants/Investors. Our Company and the Lead Manager are not liable for any amendments or modification or changes
in applicable laws or regulations, which may occur after the date of the Letter of Offer. Investors are advised to make their independent investigations and ensure that the
number of Equity Shares appliedfordo not exceed the applicable limits under laws or regulations.
LAST DATE FOR APPLICATION: The last date for submission of the duly filled in the Application Form or a plain paper Application is Tuesday, October 13,2020 i.e., Issue
Closing Date. Our Board or any committee thereof may extend the said dateforsuch period as it may determine from timetotime, subject to the Issue Period not exceeding
30 days from the Issue Opening Date (inclusive of the Issue Opening Date).
If the Application Form is not submitted with an SCSB, uploaded with the Stock Exchanges and the Application Money is not blocked with the SCSB or if the Application Form
is not accepted at the R-WAP, on or before the Issue Closing Date or such date as may be extended by our Board or any committee thereof, the invitationtooffer contained
in the Letter of Offer shall be deemedtohave been declined and our Board or any committee thereof shall be at libertytodispose of the Rights Equity Shares hereby offered,
as provided under the section, "Terms of the Issue - Basis ofAllotment beginning on page 146 of the Letter of Offer.
Please note that on the Issue Closing Date, (i) Applications through ASBA process will be uploaded until 5.00 p.m. (Indian Standard Time) or such extended time as permitted
by the Stock Exchanges, and (ii) the R-WAP facility will be available until 5.00 p.m. (Indian Standard Time) or such extended time as permitted by the Stock Exchanges.
ALLOTMENT OF RIGHTS EQUITY SHARES ONLY IN DEMATERIALIZED FORM: Please note that the Rights Equity Shares applied for in the Issue can be allotted only
in dematerialized form and to the same depository account in which our equity shares are held by such investor on the Record Date. In accordance with the SEBI Righto
Issue Circulars, (a) the Eligible Equity Shareholders, who hold Equity Shares in physicalformas on Record Date; or (b) the Eligible Equity Shareholders, who hold Equity
Shares in physicalformas on Record Date and who have not furnished the details of their demat account to the Registrar or our Company at least two Working Days prior to
the Issue Closing Date, desirous of subscribing to Rights Equity Shares may also apply in the Issue during the Issue Period. Such Eligible Equity Shareholders must check
the procedureforApplication by and credit of Righto Equity Shares in"- Procedure for Application by Eligible Equity Shareholders holding Equity Shares in physical forrrf
and"- Credit and Transfer of Rights Equity Shares in case of Shareholders holding Equity Shares in Physical Form and disposal of Rights Equity Shares for non-receipt of
demat account details in a timely manner" on pages 137 and 147 of the Letter of Offer, respectively.
INVESTORS MAY PLEASE NOTE THAT EQUITY SHARES CAN BE TRADED ON THE STOCK EXCHANGES ONLY IN DEMATERIALIZED FORM.
LISTING: The existing Equity Shares are listed on the BSE, the NSE and the CSE. Our Company has received in-principle approval from the BSE, the NSE and the CSE
for listing the Equity Shares proposedtobe issued pursuanttothe Issue pursuant to their letters dated September 15,2020, September 15,2020, and September 16,2020,
respectively. Our Company will also make applicationstothe Stock Exchanges to obtain trading approvalsforthe Rights Entitlements as required under the SEBI circular
bearing reference number SEBI/H0/CFD/DIL2/CIR/P/2020/13 dated January 22,2020. For the purposes of the Issue, the Designated Stock Exchange is BSE.
DISCLAIMER CLAUSE OF SEBI: It is to be distinctly understood that submission of the LoFtoSEBI should not in, anyway, be deemed or construed that SEBI has cleared
or approved the LoF. The investors are advisedtoreferto the full text of the "Disclaimer clause of SEBT beginning on page no. 110 of the LoF.
DISCLAIMER CLAUSE OF BSE (DESIGNATED STOCK EXCHANGE): It is to be distinctly understood that the permission given by BSE Limited should not in any way
be deemed or construed that the Letter of Offer has been cleared or approved by BSE Limited, nor does it certify the correctness or completeness of any of the contents
of the Letter of Offer. The Investors are advised toreferto the Letter of Offerforthe full text of the 'Disclaimer clause of the BSE Limited beginning on page 113 of the LoF.
DISCLAIMER CLAUSE OF NSE: It istobe distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Letter of Offer
has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Letter of Offer. The Investors are advised toreferto
the Letter of Offerforthe full text of the 'Disclaimer clause of NSE beginning on page 114 of the LoF.
DISCLAIMER CLAUSE OF CSE: It is to be distinctly understood that the permission given by CSE should not, in any way be deemed or construed that the Letter of Offer
has been cleared or approved by CSE, nor does it certify the correctness or completeness of any of the contents of the Letter of Offer. The Investors are advised to refer to
the Letter of Offerforthe full text of the 'Disclaimer clause of the CSE beginning on page 114 of the LoF.
BANKER TO THE ISSUE/ESCROW COLLECTION BANK/REFUND BANKER: ICICI Bank Limited
DISPATCH AND AVAILABILITY ISSUE MATERIALS: In accordance with the SEBI ICDR Regulations, SEBI circular SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6,2020,
read with SEBI circular SEBI/H0/CFD/DIL1/CIR/P/2020/136 dated July 24,2020 and the MCA Circulars, our Company will send, primarily through email, the Abridged Letter
of Offer, the Application Form and other applicable Issue materialtothe email addresses of all the Eligible Equity Shareholders who have provided their Indian addresses
to our Company. The Letter of Offer will be provided, primarily through email, by the Registrar on behalf of our Company or the Lead Manager to the Eligible Equity
Shareholders who have provided their Indian addresses to our Company and in each case who make arequestin this regard.
In the event that e-mail addresses of the Eligible Equity Shareholders are not available with the Company or the Eligible Shareholders have not provided valid e-mail
addresses to the Company, our Company will dispatch the Letter of Offer, Abridged Letter of Offer, Application Form and other applicable Issue materials by way of physical
delivery as per the applicable laws to those Eligible Equity Shareholders who have provided their Indian address.
In accordance with the above, the dispatch of the Abridged Letter of Offer, the Righto Entitlement Letter along with the Application Form has been completed in electronic
form through e-mail and physically through Speed/Registered Post on September 25,2020 by the Registrar to the Issue.
Eligible Equity Shareholders can obtain the details of theirrespectiveRighto Entitlements from the website of the Registrar (i.e., https://righto.kfintech.com) by entering their
DP ID and Client ID or Folio Number (in case of Eligible Equity Shareholders holding Equity Shares in physicalform)and PAN. The linkforthe same shall also be available
on the website of our Company (i.e., www.eihltd.com).
Further, our Company along with the Lead Manager will undertake all adequate steps to reach out the Eligible Equity Shareholders who have provided their Indian address
through other means, as may be feasible. In light of the current COVID-19 situation, our Company, the Lead Manager and the Registrar will not be liable for non-dispatch of
physical copies of Issue materials, including the Letter of Offer, the Abridged Letter of Offer, the Rights Entitlement Letter and the Application Form.
Investors can access the Letter of Offer, the Abridged Letter of Offer and the Application Form (provided that the Eligible Equity Shareholder is eligible to subscribeforthe
Righto Equity Shares under applicable securities laws) on the websites of: (i) our Company at www.eihltd.com; (ii) the Registrar at https://righto.kfintech.com; (iii) the Lead
Manager, i.e., Ambit Capital Private Limited at www.ambit.co; (iv) the Stock Exchanges at www.bseindia.com and www.nseindia.com; and (v) the Registrar's web-based
application platform at https://righto.kfintech.com.
including the Letter of Offer, the Abridged Letter of Offer, the Rights Entitlement Letter and the Application Form or delay in the receipt of the Letter of Offer,
the Abridged Letter of Offer, the Rights Entitlement Letter or the Application Form attributable to non-availability of the e-mail addresses of Eligible Equity
Shareholders or electronic transmission delays or failures, or if the Application Forms or the Rights Entitlement Letters are delayed or misplaced in the transit.
OTHER IMPORTANT LINKS AND HELPLINE
The Investors can visitfollowinglinksforthe below mentioned purposes:
a) Frequently asked questions and online/electronic dedicated investor helpdesk for guidance on the application process and resolution of difficulties faced
by Investors: https://rights.kfintech.com
b) Updation on Indian address/email address/mobile number in records maintained by the Registrar or our Company: https://rights.kfintech.com
c) Updation of demat account details by Eligible Equity Shareholders holding shares in physical form: https://rights.kfintech.com
d) Submission of self-attested PAN, client master sheet and demat details by non-resident Eligible Equity Shareholders: eihltd.rights@kfintech.com

LEAD MANAGER TO THE ISSUE REGISTRAR TO THE ISSUE COMPANY S E C R E T A R Y AND COMPLIANCE O F F I C E R
AMBIT C A P I T A L PRIVATE LIMITED KFIN T E C H N O L O G I E S PRIVATE LIMITED Mr. S.N. Sridhar
Ambit House, 449 Senapati Bapat Marg, (formerly known as "Karvy Fintech Private Limited) EIH L I M I T E D
Lower Parel, Mumbai 400 013, Selenium, Tower B, Plot No- 31 and 32, Financial District, Nanakramguda, R e g i s t e r e d Office: 4 Mangoe Lane, Kolkata 700 001,
Maharashtra, India Serilingampally, Hyderabad, Rangareddi 500 032, Telangana, India. West Bengal, India;
9 m
- 9 — • : AMBIT
A c u m e n at work
Telephone: +91 22 6623 3000
E-mail: eih.rights@ambit.co
Website: www.ambit.co
HFINTECH Telephone: +91 40 6716 2222,
Toll Free Number: 18004258998, 18003454001
Email: eihltd.riahts@kfintech.com
Telephone: +91 33 4000 2200
Corporate Office: 7 S h a m Nath Marg, Delhi 110 054, India;
Telephone: +91 11 2389 0505
Investor Grievance E-mail: investorgrievance.acpl@ambit.co Investor Grievance E-mail: einward.ris@kfintech.com E-Mail: isdho@oberoigroup.com
Contact Person: Miraj Sampat Website: www.kfintech.com
S E B I Registration No: INM000012379 Contact Person: M. Murali Krishna
S E B I Registration No: INR000000221

Investors may contact the Registrar or our Company Secretary and Compliance Officer for any pre-lssue or post-Issue related matter. All grievances relating to the ASBA process or R-WAP process may be addressed to the Registrar, with a copy to the S C S B s (in case of ASBA process), giving full details such as
name, address of the Applicant, contact number(s), E-mail address of the sole/ first holder, folio number or demat account number, number of Rights Equity Shares applied for, amount blocked (in case of ASBA process) or amount debited (in case of R-WAP process), ASBAAccount number and the Designated
Branch of the S C S B s where the Application Form or the plain paper application, as the case may be, was submitted by the Investors along with a photocopy of the acknowledgement slip (in case of ASBA process), and copy of the e-acknowledgement (in case of R-WAP process).
On behalf of Board of Directors
For EIH Limited

Place: Delhi S N Sridhar

Date : September 25,2020 Company Secretary and Compliance Officer

EIH Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to undertake a rights issue of its Equity Shares and has in this regard filed a Letter of Offer dated September 21,2020 with S E B I and the Stock Exchanges. The LoF is available on the
website of SEBI, B S E and N S E at www.sebi.gov.in,www.nseindia.com and www.bseindia.com, respectively, a s well a s on the website of Lead Manager to the Issue i.e. Ambit Capital Private Limited at www.ambit.co and on the R-WAP. Any potential Investors should note that that investment in
equity shares involves a degree of risk and for details relating to such risk, please see section titled "Risk Factors" beginning on page 19 of the LoF.
The Rights entitlement and the Rights Equity Shares have not been and will not be registered under the U S Securities Act or any state securities laws in the United States, and may not be offered, sold, resold or otherwise transferred within the United States, except in a transaction exempt from
the registration requirements of the U S Securities Act. Accordingly, the Rights Entitlements and Rights Equity Shares are being offered and sold in 'offshore transactions' outside the United States in compliance with Regulation S under the U S Securities Act to existing shareholders located in
jurisdictions where such offer and sale of the Rights Equity Shares and/or Rights Entitlements is permitted under laws of such jurisdiction. There will be no public offering in the United States. PRESSMAN^
.
NEW DELHI | 26 SEPTEMBER 2020 TAKE TWO 7 <

Off track in India

minating in recalls.
“The step-down Harley didn’t go
well with the buyers and diluted its
brand equity. That was the beginning of
the end for Harley in India,” said an
auto analyst.
India’s promising automobile market remains elusive for most global firms Ravi Bhatia, managing director
and president at JATO Dynamics, a
SHALLY SETH MOHILE consulting firm, said most companies
Mumbai, 25 September created capacities after taking into
consideration the forecast for growth

I
ndia’s automobile market has and purchasing power capability.
OUT OF COURT been nothing short of an enigma
for global auto companies. Over
“Most of these decisions were taken
when the forecast was looking very
M J ANTONY the last three years, at least three glob- good. In the last few years the pur-
al brands — Harley-Davidson, being chasing power of buyers has taken a
the latest — were forced either to exit hit and is not in line with the capaci-

Tribunals on or scale down their operations. This is

the very same market that, till a
decade ago, promised much with its
ty created. This has forced companies
to take drastic steps.
India’s top two carmakers, Maruti

ventilators demographic dividend, low car and

two-wheeler penetration and a grow-
ing economy.
Suzuki India and Hyundai Motor India,
corner over 70 per cent of the market.
The only other company that is show-

T he plight of litigants in the Supreme

Court and high courts after the
lockdown is evident as only about half
among the sitting judges are holding court
through video conference. The number of
judgments delivered has also shrunk as
never before. However, the status of the
innumerable tribunals is much worse.
Though they were set up to avoid the
chronic delays in ordinary courts, there are
hardly any of these quasi-judicial bodies
which have full complement of members.
In fact, most of them are topless, with no
presidents appointed for long periods.
Their predicament has worsened after
the surprise lockdown.
Consumer confidence in the effectiveness
of forums has declined steeply. In Delhi,
there was a drop of about 17 per cent in
complaints over the years and after the
shutdown it is 77 per cent
Even as the fundamentals that
attracted companies over the past two
decades remain intact, a sputtering
economy has stalled these grand plans.
If that wasn’t enough, policy flip-flops,
an unviable tax structure, and the intro-
duction of a slew of regulations in a
short span of time have also thrown a
spanner in the works.
Last fortnight, a top official at
Toyota Kirloskar Motor flagged the
high taxation structure and pitched for
a rate cut. Under the Goods and
Services Tax (GST) regime, taxes on
automobiles in India are among the
highest in the world, attracting duties
up to 50 per cent. This includes 28 per
cent GST and a cess that varies from
3-21 per cent depending on the fuel
type, engine size and vehicle length.
“It’s extremely tough to do business
in India,” a top official at an auto com-
pany said, attributing it to a high taxa-
tion structure and frequent policy
changes. The differential taxation on
small cars and large ones have been
impeding volume growth, he said.
Car sales plunged 18 per cent in fis-
cal 2020, the lowest in a decade.
Motorcycle and scooter sales in the
world’s largest two-wheeler market also
skidded 18 per cent — sales were the
lowest in four years. The crisis
unleashed by Covid-19 has worsened
the plight of all those on the fringes.
Year-to-date, passenger vehicles sales
have halved to a year ago period.
So, what is common to Harley-
Davidson or General Motors that decid-
ed to quit India? What unites Ford,
which took a call to “hedge” its India
bet by ceding majority control to
Mahindra & Mahindra, and Toyota
Kirloskar Motor, which found itself on
the wrong side with policy-makers
when Shekar Viswanathan, its whole-
time director and vice chairman, called
the country’s tax structure unviable?
The common factor is that none of
ing initial signs of success is Kia Motors.
With just one model, Seltos, Hyundai’s
sister company carved out more than
5 per cent in its first year in India. It now
has close to 8 per cent share and recent-
ly launched another vehicle, the Sonet,
and before that a premium MPV, the
Carnival. But such instances are few
and far between.
A high cost structure, which
includes indirect tax, and a high own-
ership costs have weighed on compa-
nies. While GM and Ford were forced
to take radical steps, others, including
the local arms of Nissan, Renault,
these auto-makers have
managed to sweat their
Heading for motorcycle brand,
which rode into India
Honda Cars and Volkswagen, have
failed to capture even 5 per cent mar-
investments because asset
creation far outstripped
the exit in 2011, set up an
assembly facility in
ket share despite being in India for
several decades.
demand. It didn’t help that > September 2020—Harley Bawal in Haryana. Kavan Mukhtyar, partner and
the slowing demand in Davidson quits India Subsequently, it start- leader, automotive at PWC, said there
India coincided with the > October 2019—Ford ed manufacturing the is more to it than just taxation.
changed priorities at the cedes majority control to Street 750 and 500 “Despite the high taxes, the growth
global headquarters. The Mahindra and Mahindra models, the cheapest in outlook is quite positive. Vehicle own-
exit of Harley and GM and > May 2017—GM its line-up with the idea ership is still a luxury in India, espe-
Ford’s scaling down was announces its India exit of clocking higher vol- cially in cars, and therefore it will tend
part of these companies’ umes — 10,000 annu- to be taxed higher. But that can’t be
global re-alignments. On its ally — and address the bottleneck for growth. Of course it
part, Toyota Kirloskar, with only a third both domestic and exports market. But will help if taxes are lower.” According
of its capacity utilised, has shelved fur- demand didn’t take off. On the con- to Mukhtyar, it has also got to do with
ther expansion in the country. trary, it only undid its carefully crafted the price-value equation and the mod-
Take the case of Harley. The iconic image with niggling quality issues cul- els that companies offer.

$6 bn telecom
Recently, Parliament amended the
Consumer Protection Act to include
e-commerce within the jurisdiction of
consumer forums. Passing laws is the

bankruptcies
easiest thing these days. However, unless
the rules are also passed to make the
legislation work and the panel appointed
they will remain on paper. In this case, the

left hanging
lawmakers have not complied with the
Supreme Court order passed three years ago
to amend the rules suggested by it. Though
the court had demanded a compliance
report, the case itself has disappeared from
the court roster. Settlements delayed in a country whose
Meanwhile, the consumer confidence in
the effectiveness of the forums has declined banks suffer the worst bad debt ratios
steeply. In Delhi, there was a drop of about
17 per cent in complaints over the years and
after the shutdown it is 77 per cent. The
facility for e-filing has not improved
matters. Though the law says that a
complaint should be disposed of in six
months, a three-year wait is the minimum.
Many forums and appellate bodies have no
presidents or judicial members, with the
result that cases are stuck for years at the
final hearing stage and no judgment can be
delivered without them. The current
practice is to get the President of one forum
to take additional charge of other tribunals.
The result is that none of these 630 tribunals
function effectively.
Other tribunals are no better. The
ILLUSTRATION: BINAY SINHA
Intellectual Property Appellate Board
(IPAB) has an omnibus task of dealing with UPMANYU TRIVEDI to the top court, may take from
matters like trade marks, copyrights, 25 September six months to more than a year,
patents and plant varieties protection. But it Shally Bhasin, a partner at Delhi-

was born crippled since its inception in
2003. In a report called for by the Delhi high
court in Mylan Laboratories case, the
government stated some months ago that
“cases relating to trademarks, copyrights
and patents are not being taken up as there
is no technical member relating to those
specialties. The term of a patent is only
20 years and in many cases, due to lack of
Coram, the patents have expired and
the matters have become infructuous
and rights of parties have been
severely prejudiced”.
The IPAB President was given extension
of tenure repeatedly, like last week by the
Supreme Court, as the government had not
come up with a new name. There is one
technical member to keep the board on
artificial respiration. He was originally
appointed as the technical member for
appeals in the Plant Varieties Protection Act.
Now he is acting as the technical expert in
trademarks, patents, copyrights and
Geographical Indication of Goods. A real
intellectual challenge to one single person.
The normal practice of the government
is to establish tribunals through legislation
with much fanfare and then abandon them
by not providing infrastructure, funds and
personnel. Many of them like the National
Company Law Tribunal (NCLT) and
administrative tribunals suffered
prolonged birth pangs in the Supreme
Court as the laws were framed to
accommodate retired bureaucrats. Judges
would have none of it and they insisted on
a judicial head. The government bowed to
them and the tribunals began their
faltering journey. There were some 36
tribunals at last count, though several have
been merged to reduce their number.
NCLT and the one set up under the Real
Estate Regulation and Development Act
(RERA) are comparatively new entrants to
the medley. Being young, they have not yet
relapsed into the ways of the civil courts
and other tribunals. It would need heavy
expenditure, hard work and steely will to
revive the tribunals most of which are now
in a vegetative state.
B
ickering among Indian based law firm Agarwal Law
government ministries Associates, said before Friday’s
and a deferred top court hearing. “Neither the banks nor
decision on the sale of bankrupt the telecom sector can afford
telecom companies’ rights to use such delays. It frustrates the spir-
mobile phone spectrum has it of the bankruptcy law that
derailed the resolution of the mandates a time-bound resolu-
industry’s biggest bankruptcies, tion of insolvencies,” she said.
leaving banks waiting for $5.7 bil- The bankruptcy tribunal had INDIAN TERRAIN FASHIONS LIMITED
lion in payments. approved a plan to sell the assets of Weekend Regd. Office: No. 208, Velachery Tambaram Road, Narayanapuram, Pallikaranai, Chennai – 600 100.
India’s top court in a verdict Aircel group companies to help
on telecom dues earlier this banks recover about 190 billion
Business Standard E-mail: response.itfl@indianterrain.com; Website: www.indianterrain.com
Tel: +91-44-4227 9100, Fax: +91-44-2262 2897, CIN: L18101TN2009PLC073017
DELHI EDITION
month asked a lower court to first rupees ($2.6 billion) of debt. POSTAL BALLOT NOTICE
Printed and Published by Nandan Singh
rule on the dispute raised by the Another proposal to sell the assets Rawat on behalf of Business Standard Notice is hereby given pursuant to the provisions of Section 108, 110 and other applicable provisions if any, of the Companies
federal telecommunications of Reliance Communications to Private Limited and printed at The Indian Act, 2013 (“the Act”) read with the Companies (Management and Administration) Rules, 2014 (“the Rules”) and Securities
ministry against a reclaim about 230 bil- Express (P) Ltd. A-8, Sector-7, Noida, and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR
Gautam Budh Nagar-201301 and Regulations”) Secretarial Standard issued by Institute of Company Secretaries of India on General Meetings (“SS-2”),
group of govern- The telecom lion rupees is pending. (including any statutory modification(s) or re-enactment(s) thereof, for the time being in force), General Circular No.14/2020
published at Nehru House, 4 Bahadur
ment-owned banks department The banks were Shah Zafar Marg, New Delhi 110002 dated 08th April, 2020 and No.17/2020 dated 13th April, 2020 (the “MCA Circulars‟) and any other applicable laws and
led by State Bank of challenged any seeking larger regulations, the Company is seeking approval of its Members by way of Postal Ballot (only through remote e-voting) for
Editor : Shyamal Majumdar businesses as set out in the Postal Ballot Notice dated 12th September, 2020 along with the Explanatory Statement and e-
India over the legali- sale before its dues amounts. A group of voting instructions :
RNI No. DELENG/2013/53036
ty of the sale of air- are cleared, a view mostly state-owned
Readers should write their feedback at In accordance with the provision of Section 108 read with Rule 20 and 22 of the Rules and amendments thereto and
wave licences of col- opposed by the lenders claimed about feedback@bsmail.in Regulation 44 of SEBI LODR Regulations, the Company is pleased to provide its Members the facility to cast their votes by
lapsed mobile phone corporate affairs 587 billion rupees from Ph. 011-23720202, Fax :+91-11-23720201 remote e-voting on all the 4 (four) special resolutions mentioned in the Postal Ballot Notice.
operators. ministry. Lenders Aircel firms — former- For Subscription and Circulation th
The Company has completed the dispatch of Postal Ballot Notice on Friday, 25 September, 2020 through E-mail mode only
The case is yet contested the ly controlled by enquiries please contact:
to those Members, who have registered their e-mail addresses with the Company’s Registrar and Share Transfer Agent or
Ms. Mansi Singh
another example of telecom ministry’s Malaysian billionaire T Head-Customer Relations
their respective Depository Participants. For Members who have not registered their email address, physical copy of the
how government petition in court Ananda Krishnan — Business Standard Private Limited.
Notice along with Postal Ballot Form and pre-paid business reply envelope will not be sent to the Members as per the SEBI
and MCA circulars and members are requested to communicate their assent or dissent through remote e-voting system only.
branches are delay- and some 1.2 trillion H/4 & I/3, Building H, Paragon Centre,
For this purpose, the Company has engaged Central Depository Services (India) Limited (CDSL) for facilitating e-voting.
Opp. Birla Centurion,
ing bankruptcy settlements in a from collapsed Reliance compa- P.B.Marg, Worli, Mumbai - 400013
country whose banks suffer the nies, which used to be controlled Members who have not registered their e-mail addresses with either the Company’s Registrar and Share Transfer Agent
E-mail: subs_bs@bsmail.in
(RTA) or their Depository participant (DP) are kindly requested to register the same with the RTA by visiting
world’s worst bad debt ratios. by tycoon Anil Ambani. The tele- “or sms, SUB BS to 57007”
https://web.linkintime.co.in/EmailReg/Email_Register.html and follow the registration process mentioned and for
Any uncertainty about lenders’ com department claimed another DISCLAIMER News reports and feature arti- registration of e-mail ids, procuring user id and password for e-voting for the resolutions mentioned in this Postal Ballot
cles in Business Standard seek to present an Notice.
rights over the key assets of oper- 120 billion rupees from Aircel and unbiased picture of developments in the mar-
ators could also discourage lend- 250 billion from RCom in fees for kets, the corporate world and the govern- th th
The e-voting period commences from Saturday, 26 September, 2020 at 9.00 A.M. and ends on Sunday 25 October, 2020 at
ing or bank guarantees to Bharti airwave permits. ment. Actual developments can turn out to be 5.00 P.M. Please note that e-voting module will be disabled for voting by CDSL after the said date and time. Once the e-vote
different owing to circumstances beyond on a resolution is cast by a member, it cannot be changed subsequently. The cut-off date for determining the eligibility to vote
Airtel and Vodafone Idea. The telecom department chal- Business Standard’s control and knowledge. th
by electronic means shall be Friday, 18 September, 2020. The voting rights of the members shall be in proportion to the paid-
In an interim step, the lenged any sale before its dues are Business Standard does not take any respon- up equity shares of the Company as on the cut-off date.
sibility for investment or business decisions
Supreme Court decided on cleared, a view opposed by the taken by readers on the basis of reports and The Board of Directors of the Company (the “Board”) had appointed M/s. BP & Associates, Practising Company Secretaries,
Friday that the bankruptcy corporate affairs ministry. articles published in the newspaper. Readers Chennai as the Scrutinizer for conducting the postal ballot (remote e-voting) process in a fair and transparent manner in
appellate tribunal will decide Lenders contested the telecom are expected to form their own judgement. accordance with the provisions of Rule 22 of the Companies (Management and Administration) Rules, 2014.
Business Standard does not associate itself
whether banks can sell bankrupt ministry’s petition in court, saying with or stand by the contents of any of the The Postal Ballot results conducted through remote e-voting process along with the Scrutinizer’s Report will be made
telecom companies’ right to without sale of airwaves rights the advertisements accepted in good faith and available on the website of the Company at www.indianterrain.com and intimated to the Stock Exchanges, where the shares
mobile phone spectrum in the bankruptcy resolution would fail. published by it. Any claim related to the th
of the Company are listed, on or before Tuesday, 27 October, 2020. The results will be uploaded on the website of CDSL at
advertisements should be directed to the www.evotingindia.com and also on the website of the Company www.indianterrain.com
insolvency proceedings. That’s “Ministries of telecommuni- advertisers concerned.
a change from the previous cations and corporate affairs Unless explicitly stated otherwise, all rights The resolutions, if passed with the requisite majority through Postal Ballot, shall be deemed to have been passed, on the last
reserved by M/s Business Standard Pvt. Ltd. date specified for remote e-voting i.e., Sunday, 25th October, 2020.
order, which empowered the must sort the issues at their lev- Any printing, publication, reproduction,
lower bankruptcy court. Friday’s els so that the sanctity of bank- transmission or redissemination of the con-
In case of any queries or issues regarding e-voting, you may refer the Frequently Asked Questions and e-voting manual
ruling removes one layer of ruptcy resolution process tents, in any form or by any means, is prohib-
available at www.evotingindia.com under help section or write an email to helpdesk.evoting@cdslindia.com. or to the Link In
ited without the prior written consent of M/s
appeals, which could expedite a remains intact,” Agarwal Law’s Business Standard Pvt. Ltd. Any such prohib-
time India Private Limited (RTA) (email ID - rnt.helpdesk@linkintime.co.in.
By Order of the Board
final decision on the issue. Bhasin said. ited and unauthorised act by any person/legal For Indian Terrain Fashions Limited
entity shall invite civil and criminal liabilities. sd/-
Any ruling by a lower court,
followed by possible appeals up Bloomberg Date : 25th September, 2020 Ravi B.S.G
No Air Surcharge Place : Chennai Company Secretary
8 WORLD
>
NEW DELHI | 26 SEPTEMBER 2020 1

IN BRIEF US will invest $150 million to train EU may force

2 wounded in knife attack
near ex-Charlie Hebdo site
its students for H-1B occupations Apple to share
PRESS TRUST OF INDIA
Govt for fixed time limit for visas to
Washington, 25 September

students, researchers and journalists

T
he US will invest $150 million in
training for middle-to-high-
skilled H-1B occupations in key
sectors, including in information tech-
nology which employs tens of thousands
of Indian professionals.
The H-1B visa is a non-immigrant visa
that allows US companies to employ for-
eign workers in speciality occupations that
require theoretical or technical expertise.
According to the Department of Labor,
prominent among these sectors are infor-
France opened an anti-terror probe after two journalists mation technology, cybersecurity,
were stabbed in Paris on Friday near the former offices of advanced manufacturing, transportation,
the Charlie Hebdo satirical magazine that was attacked by wherein the H-1B One Workforce grant
Islamist militants in 2015. PM Jean Castex said the attacker
had been arrested. A second person was also in custody.
programme would be used to upskill the
present workforce and train a new gener-
ation of workers to grow the future work-
force. This would mean providing relevant
Putin seeks cyber deal with training to students to make them eligible
to apply for occupations otherwise seen
US for no ‘poll meddling’ as roles for which firms bring in people
from outside the country on an H-1B visa.
Russian President Vladimir Putin called Covid-19 has not only caused disrup-
on Friday for an agreement between tions in the labour market, but also forced
Russia and the US to guarantee not to many education and training providers
engage in cyber-meddling in each and employers to rethink how to deliver
other's elections. In a statement ahead of training, the department stated.
the US presidential election on November In this grant programme, the depart-
3, Putin called for an agreement between
the two countries to prevent incidents in cyberspace. "(I
propose)... exchanging guarantees of non-interference in
each other's internal affairs, including electoral processes,
G7 backs SHUTDOWN REBELLION IN FRANCE
including using information and communication
payment tech
NATALIA DROZDIAK
The Donald Trump loopholes in the system by 25 September
administration on Thursday China. In all the three
proposed a fixed time limit categories of foreign The European Union is
on visas of students, students, researchers and weighing legislation that
researchers and foreign journalists, those from could force Apple Inc. to open
journalists in the United China have benefitted the iPhone payment technology
States, noting it is concerned In the three categories, most. Under the proposed to competitors.
about the liberal existing those from China have rule, 'F' (students visa) or 'J' The potential rules would
visa programme being benefitted the most (researchers visa) non- grant other payment services
abused and a potential for immigrants would be a right of access to infrastruc-
increased risk to national Register on Friday is not allowed for a period up to ture such as near-field com-
security. country-specific, but has the end date of their munication technology
The proposal scheduled been brought in view of the programme and not more embedded in smartphones,
to be notified in the Federal abuse of the existing than four years. PTI the European Commission
said Thursday, confirming a
Bloc challenges
ment’s Employment and Training to provide individuals in their commu-
Bloomberg report
week.While the EU didn’t
last ruling in $15-bn
Administration has set out to streamline
funding and resources to encourage a
nities with skills necessary to advance
career pathways to employment in mid-
explicitly name Apple, it said
the “most commonly
back tax battle
more integrated workforce system that
will push the applicants to provide an
dle-to-high-skilled H-1B occupations
within key industry sectors. The training
reported issue” related to
mobile device manufacturers
The European Commission said
Friday it is appealing a court
innovative mix of training strategies, lev- models will include a broad range of restricting third-party access decision that Apple doesn't
eraging innovative modes of training classroom and on-the-job training, cus- to NFC chips. The compo- have to repay ^13 billion euros
delivery, including online, distance and tomised training, incumbent worker nents handle wireless signals ($15 billion) in back taxes to
other technology-enabled learning. training, registered apprenticeship pro- that allow users to pay via Ireland. The appeal comes after
Through local public-private partner- grammes and industry-recognised their smartphones or watches the US tech giant scored a big
ships, the grantees will deploy training apprenticeship programmes. at store terminals.At present, recent legal victory in its long
iPhone and Apple Watch battle with the European
users can only make NFC Union's executive Commission,
payments using Apple Pay. which has been trying to rein in
Banks and other competitors multinationals' ability to strike
have said they want the same special tax deals with

extension
technologies and high-tech methods," he said. REUTERS functionality for their own individual EU countries. The
iPhone apps but that Apple EU's General Court ruled that
refuses access to the chip. the commission wrongly
Trump to accept results of of G20 Google’s Android phone
allows rival apps to use NFC
declared in 2016 that Apple was
given illegal state aid when it
‘free & fair’ election: WH
US President Donald Trump will accept the results of a "free
debt freeze technology. Only one appli-
cation is allowed access to it
at a time for a given transac-
struck a low tax rate agreement
with Irish authorities. AP/PTI

and fair" election, his press secretary has said, allaying REUTERS tion to keep data secure.
fears triggered after he yet again sowed doubts about the Washington/Paris, 25 September Apple has previously said chip, decoupled from Apple’s
legitimacy of mail-in ballots and refused to commit to a it restricts access to the NFC added layer of security, could
peaceful transfer of power if he lost the November 3 G7 finance ministers on chip for security reasons. It increase the risk of fraud and
presidential polls. Asked whether he will leave the White Friday backed an extension said granting rival mobile other security breaches.
House peacefully if he loses the election, Trump earlier had of a G20 bilateral debt relief payment apps access to the BLOOMBERG
said: "Well, we are going to have to see what happens, you initiative for the world's poor-
know that. I have been complaining very strongly about est countries, but said it must
the ballots, and the ballots are a disaster." PTI be revised to address short-

US Justice dept pushes for

comings hindering its imple-
mentation.
In a lengthy joint state-
ment, the ministers from the
Hundreds of people gathered in the French city of Marseille on Friday, denouncing an order
UN body asks Pak
to suspend giving
that restaurants and bars close for two weeks from Saturday, arguing the move would devastate

immediate ban on WeChat Group of Seven advanced

economies — after an online
the local economy PHOTO: REUTERS

The Justice Department is seeking an immediate ban on

downloads of WeChat in Apple and Google app stores,
saying the Chinese-owned messaging service is a threat to
meeting hosted by US
Treasury Secretary Steven
Mnuchin — said they
Scientists find a turning point in new pilot licences
the security of the US. Last week the US Commerce
Department moved to ban WeChat from US app stores but
“strongly regret” moves by
some countries to skip par- severe Covid cases — faulty genes ASIF SHAHZAD tials to secure pilot licences.
on Saturday, Magistrate Judge Laurel Beeler in California ticipation by classifying their Islamabad, 25 September “Pakistan should improve
agreed to delay US restrictions, saying they would affect
users' First Amendment rights. In a filing Friday, the Justice
state-owned institutions as
commercial lenders.
PRESS TRUST OF INDIA
New York, 25 September
Covid antibodies endure over and strengthen its licensing
The International Civil system to ensure that it takes
Department asked Beeler to allow for an immediate ban
while the case works its way through court. AP/PTI
Two officials from G7
countries said the reference More than 10 per cent of
six months in Chinese trial Aviation Organization (ICAO) into account all necessary
has advised Pakistan to under- processes and procedures
was clearly targeted at China, young and healthy people The amount of Covid-19 effective inoculation against take “immediate corrective and prevents inconsistencies
which has refused to include who develop severe Covid-19 antibodies in trial subjects the coronavirus. The high actions” and suspend the issu- and malpractices before new
FTSE Russell to include loans by the state-owned
China Development Bank
have misguided antibodies
that attack not the virus, but
who received China’s
experimental vaccines
levels detected in volunteers
who took part in the earliest
ance of any new
pilot licenses in the Pakistan is
licenses are issued
and privileges of

China in global bond index and other government-con-

trolled entities in its official
Chinese sovereign bonds have won inclusion into FTSE bilateral debt totals when
Russell’s benchmark bond index a year after they were dealing with countries seek-
rejected. The index compiler owned by the London Stock ing debt relief.
Exchange Group said the debt would be added to its The ministers acknowl-
flagship World Government Bond Index. The inclusion will edged some nations will need
start in October 2021, according to a statement after US further debt relief going for-
markets closed Thursday. The inclusion gives foreign ward, and urged the Group of
investors yet another way to invest in Chinese debt and 20 major economies and
should prompt inflows into the world’s second-largest Paris Club creditors to agree
bond market. BLOOMBERG on terms by next month's
meeting of G20 finance min-
isters. “Everyone was disap-
Son cuts pledged SoftBank pointed by China’s lack of
transparency and commit-
the immune system itself,
and another 3.5 per cent may
carry a specific kind of
genetic mutation, according
to a new study.
The research, published in
the journal Science, noted both
groups of patients lack type I
interferon — a set of 17 pro-
teins crucial for protecting
cells and the body from
viruses.
These proteins, according
to the researchers from the
Rockefeller University in the
US, are part of the intrinsic
remained high six months
after the first shots, said a top
Chinese scientist, projecting
confidence the country will be
among the first to produce
in before the body produces
an antibody response, and are
known to play an important
role in immediately heighten-
ing the cells' defences in
response to several viruses.
In the case of some patients
with severe Covid-19, they said
the interferons could either be
neutralised by the patients'
clinical trials suggest that the
shots are effective and can
provide immunity against the
virus for an extended period of
time. BLOOMBERG
produced in insufficient
amounts due to a faulty gene.
They said the findings help
explain why some people
develop a disease much more
severe than others in their age
group including in individuals
who required admission to the
hospital ICU despite being in
their 20s and free of underly-
wake of a scandal probing 50 pilots suspended licens-
over falsified and five civil es are re-estab-
licenses, according aviation officials lished,” said ICAO,
to an official and a who allegedly in a previously
document seen by helped them unreported letter
Reuters. falsify credentials to the Pakistan
The recom- to secure licences Civil Aviation
mendations from Authority (PCAA)
ICAO, a specialised agency of last week.
the United Nations that A Pakistani aviation mini-
works to ensure safety in stry official told Reuters that
international air transport, the country has not issued
come days after Pakistan any new licenses since July,
opened a criminal probe into in the wake of the scandal.
50 pilots and five civil avia- A PCAA spokesman did
tion officials who allegedly not respond to a request for

shares by $810 million ment,” said an official. and innate immunity, kicking own antibodies, or may not be ing conditions. helped them falsify creden- comment. REUTERS

Masayoshi Son has reduced the number of

SoftBank Group shares he’s pledged as
collateral to lenders by about $810 million,
cutting back after heavy borrowing had
raised questions about the stability of his
technology empire. Son trimmed his
committed shares by about 14 million to
213 million, according to regulatory filings. He holds about
562 million shares directly and indirectly, which are worth
$33 billion before taking into account collateral. AP/PTI
Kim apologises for killing
Red flag? Demand wanes at Southeast Asia bond auctions
THAILAND BUCKS TREND MARCUS WONG
25 September
contributing to the worsening
bond-sale metrics. These include
of $350 million in September, the
most since they offloaded $7.5
the start of debt issuance from
the central bank, and concerns
Bid-to-cover ratios speculation local investors are billion in March. over the fiscal shortfall after the
n 2020 Average n Most Recent auction Waning demand at recent debt getting close to filling this year’s government raised its deficit
sales suggests next quarter is order books, signs the cycle of Malaysia ceiling until 2022. Onshore
3.38 3.95
going to be a difficult one for interest-rate cuts is nearing its Malaysian bonds have been the investors are demanding higher
2.48
Southeast Asian bonds.
Bidding at Indonesian and
end, the specter of debt moneti-
sation, and the re-emergence of
best performers in emerging
Asia this quarter amid optimism
yields at debt sales to compen-
sate for the rising risks. .

of South Korean official 2.00 2.06

Malaysian auctions has fallen to
the lowest levels in at least five
political risks (in Malaysia).

North Korean leader Kim Jong Un apolog-
ised on Friday over the killing of a South
Korea official near the rivals' disputed sea
boundary, saying he's “very sorry” about
the incident he called unexpected and
unfortunate, South Korean officials said.
Kim's move will likely de-escalate tensio-
ns between the Koreas as it's expected to ease anti-North
sentiments in South Korea over the man's death as well as
mounting criticism of its liberal President Moon Jae-in. AP/PTI
months, while the Philippine
1.54 government rejected all bids at
two offerings over the past
month as investors sought
higher yields than the nation was
prepared to pay. Only Thailand
has bucked the trend, with fears
over a resurgence in Covid infec-
Indonesia Malaysia Thailand tions boosting haven demand.
There are plenty of factors
Indonesia
Demand at a sale of Indonesia’s
conventional bonds on Tuesday
slid to the weakest level since
April, indicating the support
from onshore investors that has
underpinned the market in
recent months looks to be fad-
ing. Global funds have turned
net sellers again, with outflows
over further rate cuts, but the
euphoria seems to be fading.
Demand at the two most recent
conventional bond auctions —
for 7- and 20-year debt — slipped
to the lowest this year.
The Philippines
Yields in the Philippines have
been climbing from record lows
set in August due to a combina-
tion of record retail bond sales,
Thailand
While yields have been rising in
the rest of the region, they are
falling in Thailand. An auction of
2038 securities on Septermber 9
drew a bid-to-cover ratio of 3.91
times, and a sale of 2029 debt a
week later saw one of 3.95 times,
both well above this year’s aver-
age of 2.5 times.
BLOOMBERG

THE BS CROSSWORD #3336 BS SUDOKU # 3166

Across:
1 Outdoes with headgear (4)
3 Third Lieutenant, girl, to sign
for delegates (10)
10 Blot out hard core of the ring
(7)
11 One isn't covered this way (7)
12 Swimmer goes around the ring
twice, first lap is unwise (7)
13 Where to have a deep sleep ?
(3-3)
15 Points in deceit bringing
schoolboy punishment (5)
16 Like some amusing stories (9)
18 The casual manner in which
the pawn gets pawned? (2,7)
21 Gives me a set back ! (5)
23 Bill comes up to telephone,
showing concern (6)
25 Let everybody shout a greeting
(3-4)
27 A unit set to rise and advance
is at an advantage (3,2,2)
28 I see, as you say, bird flying
over calf, perhaps (7)
29 Creates skinheads with such
sufferings (10)
30 A sort of pouch made juicy
stitching (4)
Down
1 Unhappy that the fellow
hadn't resisted temptation (10)
2 May be bridge of a sort but not
bridge (7)
4 Deranged, I harm Aunt Una's
pot-plant (9)
5 Goes down in the kitchen ? (5)
6 After a short time care
becomes embarrassing (7) 24 They make us what we are if the
7 Ten wild characters reformed Bible story is not accepted (5) Very hard:
and lived in (7) 26 Contract for licensed killer (4) «««««
8 Speaks about the young ass Solution on Monday
misbehaving (4)
9 Pals I'd going round in tartans
SOLUTION TO # 3335
(6)
14 Escape without beating (10) SOLUTION TO # 3165
17 Retired tax reformer has no
right to hand over foreign
felon (9)
19 Sportsmen give first prize to
poultry! (7)
20 As a transporter he is all at sea HOW TO PLAY
(7) Fill in the grid so that every row,
21 Cereal plant gets husk off (6)
every column and every 3x3 box
22 Attempt to include
contains the digits 1 to 9
competition for ornamental
work (7)
 The Smart
QUICK TAKE: GAINS IN SIGHT FOR HINDUSTAN UNILEVER “Commentators like to stack up

Investor
all of the negatives markets face,
Shares of Hindustan Unilever (HUL) have shed about the US election being among
5 per cent over the past one month. However, some them, but I think there is a sense
analysts foresee an over 20 per cent upside in the stock that there is an underlying
NEW DELHI | over the next one year, led by improvement in per capita resilience in the market"
26 SEPTEMBER 2020 spending on hygiene, benign input costs, and market TOM PIOTROWSKI
share gains in the firm’s detergents business Market analyst, CommSec
WWW.SMARTINVESTOR.IN FOR INFORMED DECISION MAKING <

Passives dominate Sale of MF products stagnates in B30 cities

Restriction in physical movement of distributors due to the pandemic may further impact numbers

NFO line-up with ASHLEY COUTINHO

Mumbai, 25 September FAILING TO MAKE INROADS
Share of beyond 30 cities in the MF pie has
Sales of mutual fund (MF) pro- remained stagnant in the past two years Assets under
B30 T30

% share
the increased digital push dur-
ing the pandemic could help
push B30 sales in the long run.
“As adoption to digital plat-

rise in popularity ducts from B30 (beyond 30) management (~ trn) of B30 forms, including mobile apps,

ILLUSTRATION: BINAY SINHA

cities have remained stagnant improves, MFs will be able to
3.57
in the past two years, and Aug ‘18 14 tap many more investors from
could get impacted in the near 21.12 B30 cities,” said Jaideep
term, with the pandemic 3.62 Bhattacharya, CEO, SREI MF.
MFs have launched ETFs in both equity and debt segments restricting the physical move- Dec ‘18 15 “MFs are a low-cost investment
20.45
ment of distributors. vehicle. With bank fixed
Investors from B30 cities 3.92 deposit rates coming down sig-
NFOs IN THE rely more on face-to-face com-
Aug ‘19
21.71
15 nificantly, investors are likely
PASSIVE SPACE munication with distributors to turn to MFs for their invest-
and advisors as compared to 4.30 ment allocation.”
| UTI Momentum Index Fund Dec ‘19 16
their T30 (top 30) counterparts. 23.06 As of March 31, 2020, 40,418,
| Motilal Oswal Asset These regions rely on simpler or 46 per cent, of individual dis-
4.45
Allocation Index Fund products, such as large-cap Aug ‘20 16 tributors were from B30 cities.
schemes, which have been
23.32 Industry participants believe
of Funds
impacted in the past few years Source: Association of Mutual Funds in India that a higher number of such
| Edelweiss MSCI India due to polarisation in the mar- distributors are required to
Financials Index Fund ket. “Relationship and trust are push sales in the hinterland.
| Motilal Oswal 5 Year more important in these tives for these cities. through the trail model. ture its potential,” an Amfi BCG The reduction in expense ratios
G-Sec ETF regions, compared to metros,” In 2018, the Securities and “Nearly 90 per cent of report had observed in 2019. and the ban on upfront com-
said Jimmy Patel, chief execu- Exchange Board of India said Indian households are located Fund houses have conduct- mission has made MF distribu-
| Axis Banking ETF tive at Quantum MF. fund houses would be allowed in tier 2 cities and beyond. ed several investor camps and tion an unviable career option
| ICICI Prudential Alpha Low Earlier this week, the regu- to pay an extra commission of Increasing the reach beyond awareness programmes in bey- for many. Sixty three per cent
Vol 30 ETF lator highlighted that the 30 bps for incremental flows the metro and tier 1 cities will ond 30 cities over the past few of the assets from B30 loca-
industry’s penetration beyond from B30 cities, as opposed to be critical to add 8 crore new years. The popular ‘Mutual tions, as of August 31, were in
top 30 cities had remained B15 cities earlier. The regulator investors. The industry will fund sahi hai’ campaign, which equity schemes. A fourth of the
SUNDAR SETHURAMAN corpus in a single stock. Meanwhile, Reliance stagnant over the past five then directed fund houses to need to rethink its approach for kicked off in 2017, has also assets held by individual inves-
Thiruvananthapuram, 25 September Industries, which has been a big outperformer years, and it needed to do more charge this only on retail assets leveraging the current distribu- helped bring in a lot of new tors were from B30 locations.
this year has nearly 15 per cent weighting in the to address this. The grapevine under management. The tion network, as well as build- investors into the MF fold from Only six per cent of

E
very other new fund offer (NFO)
launched by mutual fund (MF) houses
in recent times has been in the
exchange-traded fund (ETF) or index fund
space. Experts say this trend is an acknowledge-
ment of the growing popularity of passives as
investment vehicles.
Fund houses have lined up passive funds
both on the equities as well as on the debt side.
Examples of such funds are UTI Momentum
Index Fund, Edelweiss MSCI India Financials
Index Fund, and two fund-of-funds by Motilal
Oswal that invest in passive funds. On the debt
side, the fund house has also launched the
Motilal Oswal 5 Year G-Sec ETF.
The low cost of investing, coupled with
recent outperformance, has given an impetus
to ETFs, say experts. “If you look at the trend
worldwide people are moving towards passive
funds because costs are rising, revenues are
shrinking, and it is becoming increasingly dif-
ficult to beat the benchmark,” said Jimmy Patel,
managing director and chief executive officer
of Quantum Asset Management Company.
Only last month, the assets under manage-
ment (AUM) of domestic ETFs topped the ~2-
trillion mark. ETFs based on the Nifty 50 index
alone have cumulative AUM of ~1 trillion.
In the past few years, many actively-man-
aged funds have failed to beat their benchmark
returns, prompting investors to shun these
funds in favour of passive investing.
A passive fund tracks a market index. The
fund manager does not actively choose what
stocks the fund will be comprised of, unlike in
an active fund. An NFO is the first-time sub-
scription offer for a new scheme launched by a
fund house. Fund managers said the polarisa-
tion of the market in recent times has made it
challenging for active funds to generate the out-
sized returns over their benchmark.
To illustrate, an actively managed fund can’t
invest more than 10 per cent of the scheme’s
benchmark Sensex. As a result, most active
funds have been underweight on the stock.
Sunil Subramaniam, MD, Sundaram Mutual,
said being diversification vehicles MFs cannot
benefit when there is a high polarisation in the
market. The low-cost structure of passive funds
also makes it attractive for fund houses who
want to give their customers a wide basket of
choices. Further, market participants said pas-
sive funds are helpful if the asset management
companies (AMCs) want to launch a MF wrap
under a fund of funds. The changes in the MF
distribution system with the advent of regis-
tered investment advisors (RIA) have also tilted
the balance in favour of passive funds. Experts
said active funds limit the earnings for an RIA
because part of the fee is taken away by the asset
manager. “RIA gets his compensation for his
advice on asset allocation. Naturally, they will
prefer low-cost products to deploy money.
Otherwise, there will be double cost as the cus-
tomer has to pay the fund manager and the RIA
fees,” said Subramaniam.
Experts said MFs would move towards pas-
sive funds to control costs. However, the short-
age of well-developed indices in India will be a
challenge. “There is not much liquidity if you
launch an index fund on a small or mid-cap
index. But if there is supply, there will be
demand, and liquidity issues will get resolved,”
said Patel. If an investor needs exposure to
small- or mid-caps, there are barely any ETFs
in the domestic market. The performance of
most actively managed funds operating in this
universe has been better than benchmarks.
Since the beginning of 2020, 51 open-ended
NFOs have been launched, and they have col-
lected ~20,664 crore. In the closed-ended cate-
gory, 30 NFOs have been launched, and they
have collected ~1,107 crore. However, the
number of closed-ended NFOs has declined
drastically after the Covid-19 outbreak. Only one
close-ended NFO has been launched since May.
is that the regulator could do additional commission to dis- ing a robust and sustainable under-penetrated regions.
away with additional incen- tributors could be paid only network in tier 2 cities to cap-
Bet on cyclical stocks, says Christopher Wood
PUNEET WADHWA
New Delhi, 25 September
Investors would be better off buying
cyclical stocks whenever the market
corrects, Christopher Wood, global head
(equity strategy) at Jefferies, has advised
in his weekly note, GREED & fear.
He cites two reasons for his convic-
tion. First, he believes that the world
is closer to the end of the Covid-19 pan-
demic now than it was a few months
ago, in line with Farr’s law, which
states that once peak infection is
reached, then it will roughly follow the
same symmetrical pattern on the
downward slope – a bell curve.
Second, Wood expects fears of
any renewed downturn, as have
begun to get reflected in the risk-off
sentiment in recent days, will lead to
further monetary and fiscal stimulus.
This, in turn, should keep the
liquidity tap flowing, and should sup-
port markets.
Over the past few days, however,
global markets have corrected over
fears of fresh lockdown across major
economies as cases surge. Recently,
UK Prime Minister Boris Johnson
announced a slew of restrictions in
England after a fresh spike in infec-
tions. These measures might last for
six months, said Johnson, if there is
MF officials are hopeful that
MKTS ARE CONCERNED THAT ANOTHER FISCAL
PACKAGE WON’T BE AGREED UPON BEFORE
THE US ELECTION DATE. BUT, IF MKT ACTION
IS BAD ENOUGH, POLITICIANS WILL COME
TOGETHER QUICKLY SINCE...THE
UNEMPLOYMENT INSURANCE FUNDS
ALLOCATED BY THE EXECUTIVE ORDER WILL BE
DEPLETED BY EARLY OCT, CREATING ANOTHER
‘FISCAL CLIFF’ IN DISPOSABLE INCOME
CHRISTOPHER WOOD
Global head (equity strategy)
Jefferies
no improvement in the situation.
“Markets have become concerned
that another US fiscal package will not
be agreed before the November 3 elec-
tion date. But if market action is bad
enough, the politicians will still come
together quickly since, as noted by
Jefferies US chief economist, the
unemployment insurance funds allo-
cated by the executive order signed by
Donald Trump on August 8 will be
depleted by early October creating
another ‘fiscal cliff’ in disposable
income,” Wood said.
So, while most do not expect more
US Federal Reserve (US Fed) action
until the December Federal Open mar-
ket Committee (FOMC) meeting,
Wood feels there is scope for US Fed
action inter-meeting if the market
action is violent enough. “Remember
it is the US Fed which follows the mar-
kets, not the other way round. Still
what triggers the US Fed to move is
rising credit spread. But so far the
spread widening on US high-yield cor-
porate bonds has not been that dra-
matic,” Wood said.
In its September meeting, the US
Fed kept interest rates unchanged
institutional assets came from
B30 locations.
near zero and promised to keep them
there till inflation gets on track to
“moderately exceed” the US central
bank’s 2 per cent target.
Analysts at Credit Suisse Wealth
Management, too, have expressed con-
cern over the deteriorating health of
the US economy. “We expect a signifi-
cant deceleration in growth starting
this month, as the surge related to the
reopening of economies is fading and
as household incomes are deteriorat-
ing after fiscal support measures in the
US ran out in late July,” cautioned
Jitendra Gohil, head of India equity
research at Credit Suisse, in a
September 15 note co-authored with
Premal Kamdar.
As regards a stimulus in the US
after the election in November, in
case of Democratic candidate Joe
Biden wins, analysts at UBS estimate
$700-800 billion of additional infras-
tructure spend and $0.9- 1.1 trillion in
healthcare and education spending
over the next 10 years. Besides, they
expect $75-125 billion in discretionary
spending in 2021.
However, if Trump returns, Niall
MacLeod, a strategist at UBS, sees
$250-500 billion in additional infras-
tructure spend over the next 10 years
and an extra $50 billion in discre-
tionary spending in 2021.

THE COMPASS
Switch from European
Interest on interest: Adverse SC verdict could hurt banks in Q2
Banks may take
~10-20k cr hit if
HAMSINI KARTHIK News reports suggest that
the Mehrishi Committee has
lising government-owned
banks or serving the public
compromised. Non-perform-
ing assets of retail loans have
stocks to EMs: Citigroup
The highly anticipated
interest is waived and Supreme Court (SC) hearing
recommended that the gov-
ernment bear the brunt of this
directly; why help the banks
instead,” the head of research
been contained at two per cent
for years, with a greater role
CORMAC MULLEN
25 September CITI ECONOMIC
payable by lenders on ‘interest on interest’ for liability and relief be provided at a domestic brokerage said. played by credit bureau SURPRISE INDEX
loans under moratorium is to the most affected segment Analysts at MOSL make an scores. Banks have improved Investors should rotate out of European
IMPACT OF ADVERSE scheduled for next Monday. A
back-of-the-envelope calcula-
of borrowers.
While this bodes well for
interesting observation. Given
how SC’s verdicts have had
their retail underwriting prac-
tices and are now adopting a
equities into their emerging market (EM)
counterparts, thanks to a divergence in the
VERDICT tion indicates that banks are banks, going by precedents, severe implications on the disciplined lending approach. economic trends underlying the two asset
Interest forgone * staring at a ~10,000-20,000 analysts say they would be business outlook of sectors “We are worried that classes, according to Citigroup.
Estimates (%) crore hit on their profit and surprised if the government such as telecom and coal waivers will set a bad moral The firm’s gauge of economic surprises is
of PPOP of PBT loss statement if the verdict is offers any support. “As per mining in the past, they say an precedence and could vitiate indicating a pattern disappointment in
unfavourable. our observation, unless it is adverse verdict could have the credit culture among retail Europe, while remaining robust in emerging
Axis Bank 29.1 73.8
While this is about two per a government announced huge ramifications on the borrowers,” Ganapathy said. markets, wrote strategists including Jeremy
Bandhan Bank 68.3 97.2 cent of total banking sector scheme like a farm waiver, it banking sector, too. Yet, they Retail was the fastest-growing Hale in an asset allocation note Thursday.
Bank of Baroda 95.9 481.4 loans, analysts at Motilal is unlikely that such costs are hopeful that considering segment for banks till Febr- Meantime, expectations for European
HDFC Bank 24.5 34.8 Oswal Securities (MOSL) esti- are borne by the govern- banks’ fiduciary responsibil- uary. A negative verdict may earnings growth are the highest among
mate that banks’ operating ment,” says an analyst with ities to their deposit holders, deter banks from taking much developed markets and may be at risk of
ICICI Bank 28.9 56.2 profits could take a 24-111 per a foreign brokerage. the probability of an adverse exposure to the segment. declining, they said.
IndusInd Bank 35.3 58.8 cent hit in financial year 2020- Some analysts say that if verdict is minuscule. In other words, with a 35- “We think it makes sense to trim some
PNB 78.2 366.6 21 (FY21). If a final verdict is the government extends any Apart from the financial per cent year-to-date correc- developed-market specific risk at a time
SBI 30.7 103.2 delivered on Monday and is relief it may be counterpro- disruption, Suresh Ganapathy tion in the Nifty Bank index, where near-term probabilities are skewed to Index is little changed.
PPOP: Pre-provisioning profit; PBT:
unfavourable for banks, their ductive. “There may be an of Macquarie Capital raises an unfavourable verdict can some regional economic surprise indexes EM equity relative valuations are
Profit before tax; *for six months September quarter results uproar that this money could concerns on the credit disci- further aggravate the pressure turning negative again, led by Europe,” they attractive and there is evidence of inflows
Source: MOSL may be strained. have been used for recapita- pline of borrowers getting on banking stocks. wrote. “In equities, we remain slightly returning, the strategists wrote. One further
overweight overall, but recommend rotating plus-point for developing-nation stocks was

Harley’s exit, demand revival may drive Eicher Motor’s volumes
Market share gains RAM PRASAD SAHU
for the premium The Eicher Motors stock gained 4 per
segment a cent in trade on hopes that the exit of
long-term trigger Harley Davidson from the Indian market,
gradual recovery and launches will help
the company gain market share in the
premium motorcycle market. The firm
is also expanding its global manufactur-
ing presence and has recently announced
an assembly plant in Thailand.
While the exit of Harley Davidson is
positive, the near-term trigger would be
a recovery in volumes. While volumes for
August were 5 per cent lower as com-
pared to last year, they were higher by 24
per cent, on a sequential basis. Analysts
highlight that the shift to personal trans-
port, improving rural sentiment, as well
as pent-up demand in urban markets
could support volume growth.
In addition to the demand pick-up,
what may drive sales is the launch of
Royal Enfield Meteor 350, ahead of the
festival season. Analysts led by Ronak
Sarda of Systematix Research say that
while the competitive intensity has
boosted the premium segment over the
past two years with the launch of Jawa,
Royal Enfield’s competitive position is
better, given a strong dealer network,
availability of variants, customisation
options, and reducing cost of ownership.
Eicher will also benefit from a growing
market for the premium segment within
the motorcycle industry. The share of pre-
mium bikes has risen from 15 per cent in
FY14 to 23.7 in FY19. However, the slow-
down in the economy and consumer
preference for entry-level bikes saw the
premium bike share come down a bit to
22.7 per cent in FY20. While the premium
segment could face near-term head-
winds, analysts say they could gain share
out of European stocks and into EM given
relative data trends.”
A gauge of the European economy fell
the potential for a weaker dollar, they added.
“Fundamentals for the dollar will remain
unsupportive medium term,” the Citi team
over the long term. Darshan Gangar of unexpectedly in September, amid a wrote. “This a positive for EM risk assets.”
Axis Securities expects weakness across resurgence in coronavirus cases that has Elsewhere, the strategists moved
two-wheeler segments in FY21. However, dampened investor ardor toward the region’s underweight high yield US corporate bonds,
he believes that in a maturing industry shares. The Stoxx Europe 600 Index has maintaining a preference for investment
(two-wheeler penetration of 53 per cent), fallen more than 3 per cent over the past 2 grade securities. They increased their
demand may shift to premium products. months, while the MSCI Emerging Markets weighting in gold. BLOOMBERG
In addition to the domestic market,
exports could be another opportunity.
After an assembly plant in Argentina, the
firm has set up its second overseas plant
in Thailand. The facility, which is Equitas SFB downsizes offer size for IPO
expected to start production soon, will
help the firm expand its presence in T E NARASIMHAN its equity shares.
South East Asia. While exports account Chennai, 25 September The size of the fresh issue
for a 6-per cent share in Eicher’s volume, has been reduced from up
the company has plans to take this to 20 Equitas Holdings has said to ~550 crore to up to ~280
per cent over the long term. While these that its subsidiary Equitas crore. The number of equity
factors are positive, the stock, which is Small Finance Bank (SFB) has shares offered through the
trading flat over the past two months, filed with Sebi an addendum offer for sale by the firm,
may not see sharp upside in the near to its draft red herring has been reduced from
term. Investors should accumulate it on prospectus (DRHP), revising up to 80,000,000 equity
dips, with a long-term holding period. its offer size for the proposed shares to up to 72,000,000
initial public offering (IPO) of equity shares.
.
NEW DELHI | 26 SEPTEMBER 2020 THE SMART INVESTOR 11 <

IT firms must grow in double digits How to protect yourself

to justify valuations, say analysts
as they move faster on digital.
Expectation of sustainable Accenture’s August quarter results,
growth, improved announced on Thursday, also suggests
strong traction for Indian IT players. While
dividend payouts to the company guided for 2-5 per cent reve-
nue growth for FY21 (it follows September
prove supportive to August financial year), its expectations
of high single to low double-digit growth
SHREEPAD S AUTE in H2FY21 (March-August 2020) paints a
Mumbai, 25 September bright FY22 outlook for Indian firms, say
analysts at PhillipCapital. The news
from banking frauds
Using these new tools, switch off usages you
don’t require and set limits on others
BINDISHA SARANG
A few significant changes will be intro-
duced from September 30 that will pro-
vide debit and credit card users better
protection against frauds by allowing
them to exercise greater control over
these instruments. Your bank might
have already activated these risk-miti-
gation features. If not, it will do so soon.

T
he stellar listing of Happiest Minds
Technologies last week once again
underlines investors’ trust in IT
stocks thanks to the increasing thrust on
digital infrastructure because of the
Covid-19 pandemic.
In fact, the story isn’t different for
established players either. Over the past
three months, the Nifty IT index has
gained a whopping 36.2 per cent, about 5
times the rise in the Nifty50, which is up
7.4 per cent over the period.
Thus, at 21.5 times financial year 2021-
22 (FY22) estimated earnings, the Nifty IT
index is currently trading at about 29 per
cent premium to the Nifty50. Notably, the
sector’s current 1-year forward price-to-
earnings (P/E) ratio of 23 times is 38.5 per
cent higher than its 5-year mean.
Many analysts do not see a sharp
downside risk to IT stocks, they also feel
IT companies need to clock double-digit
growth over the medium term to justify
such high valuation multiples. “We
believe IT firms have strong growth levers
in place, led by a strong deal pipeline,
mainly in the digital space, and this would
help sustain valuations,” says Suyog
Kulkarni, analyst at Reliance Securities.
Sanjeev Hota, head of research at
Sharekhan, echoes the view. He says, “We
expect most leading IT companies to reg-
boosted the Nifty IT index, which was up According to Rajesh Mirjankar, man-
3.5 per cent on Friday versus 2.3 per cent aging director and chief executive officer EXERCISE GREATER
PRICEY AFFAIR CATCHING UP rise in the Nifty50.
What is also noteworthy is that Indian
(CEO), Infrasoft Technologies, a fintech
digital solutions provider for the bank-
CONTROL ON CARDS
Price to earnings 1-year forward * players’ capabilities have also been ing and financial sector, “These changes n Download your bank’s app and
ratio (x) Ratio Prem. to 5-yr FY22E improving, further adding to the growth will empower customers and make their follow the steps required for
mean (%) expectations. Amit Chandra, analyst at cards more secure.” logging in
TCS 27.1 32.6 25.4 HDFC Securities, underlines that the mar- What’s new: These rules apply to exist- n Go to the cards section.
ket share of Indian firms in the global IT ing cards, new ones and to those that Some bank apps call it the
Infosys 23.0 35.6 21.7 market has increased from 5-6 per cent to have been renewed recently. Says Adhil ‘manage cards’
HCL Technologies 18.3 35.5 17.4 around 27 per cent in the past 15 years and Shetty, chief executive officer,
gains have intensified over the last five BankBazaar: “When cards are issued, n You will find two usage options:
Wipro 18.2 24.6 17.7 International and Domestic,
years. He feels improved payouts by IT you will only be able to use them at
Tech Mahindra 16.2 19.2 14.9 companies are also supporting valuations. points of sale (PoS) and at ATMs within choose one
L & T Infotech 23.4 39.1 21.7 The higher payout clearly signals India. You will have to manually enable n Next, you can disable, set limit,
Mphasis 18.5 24.8 17.3 strong free cash flow generating ability. online, international, and contactless and switch on/off the following
Even in the past, tier-1 players’ payouts as transactions.” These facilities can be options: ATM withdrawal, online
Nifty IT 22.9 38.5 21.5 a percentage of free cash flows increased activated via mobile, internet banking, transaction, and PoS
Nifty50 19.5 13.8 16.7 from 62 per cent in FY17 to 121 per cent in ATMs or bank branches. While all this
FY20 and from 45 per cent to 77 per cent might seem like a pointless burden, n You can also set your own
* trailing 12 months ending June 2021
Source: Bloomberg Compiled by BS Research Bureau for mid-tier players. remember that these new features will spending limits on your debit
The upcoming presidential election in enhance security of card transactions. or credit card
ister double-digit growth over FY20-FY23 growth expectations are higher for mid- the USA in November will also have an Use it or lose it: Existing cards that have Note: Alternative channels for doing this are
SMS and net banking. Steps may vary from
and this would justify their current val- tier IT companies vis-a-vis tier-1 players. impact on Indian IT firms, as North never been used for online, contactless one bank to another Source: Bank websites
uation levels. Increasing weighting of IT The pandemic has clearly shown the America is the largest market. or international transactions will be dis-
in the Nifty is also driving the re-rating. A necessity of strong digital infrastructure Overall, how the IT players cash in on abled for such transactions. Says Sahil
strong deal pipeline and likely higher IT as is seen in the deal wins by IT players. growth opportunities and how their deal Arora, director, Paisabazaar.com: “For like ATM or online transaction. Imagine
spending across the sectors point towards Elara Capital’s recent report on the IT sec- pipeline pans out would be very crucial. the rest of the cards, banks have been the peace of mind you will have when
strong growth potential for IT players.” tor, based on commentary from 18 IT For now, investors are advised to remain allowed to exercise their discretion on you can switch off the non-requisite
While current valuations suggest the firms, highlighted that the pandemic has selective. Infosys, Tech Mahindra, HCL whether to disable them for such trans- facilities temporarily and set a limit for
Street is factoring in high sustainable led to increased adoption of cloud services Technologies, and L&T Infotech are ana- actions based on their risk perception.” those that you use.
growth in the long run, it also implies that and client-buying behaviour is changing lysts’ top picks. Cardholders who require the function- Take, for instance, the ability to
alities of online, contactless or interna- switch off ATM, PoS and international
tional transactions can reacti- transactions on your card, and
vate them through the mobile set a limit on domestic online

GMM Pfaudler management moves to stem stock’s free fall
Glass-lined equipment man-
ufacturer GMM Pfaudler fell
five per cent on Friday to close
at ~3,803.6. Friday’s fall widens
the stock’s loss to 36.3 per cent
from its recent September 15
high of ~5,974.
The companies’ share price
decline began after it announced
that promoter group entities will
sell 17.6 per cent stake as part of a
restructuring plan. The
announcement came on
Monday at a sharply lower floor
price of ~3,500 per share. A sub-
sequent announcement on
Tuesday mentioned that an over-
subscription option was used to
sell 20.5 per cent stake.
On Friday, in a call with inves-
tors after market hours, the com-
pany said that it is willing to co-
operate with any agency that
might want to look into allega-
tions of unusual positions being
taken around the time of the
offer for sale (OFS). There were
reportedly positions taken in the
stock lending and borrowing
mechanism (SLBM) segment
around the time of the
announcement.
GMM Pfaudler will acquire 54
per cent of the global business of
Pfaudler International through
the deal. The Patel family, part of
the promoter group, will acquire
another 26 per cent stake.
Analysts believe valuations
are likely to be affected by the
governance issues.
The business remains a
strong franchise with good pro-
spects, according to Deven
Choksey, managing director of
KRChoksey Investment
Managers. Steps should be taken
to correct any mistakes on cor-
porate governance, he said.
The management said in the
conference call on Friday syn-
ergies including India’s low
labour cost would act as tail-
winds. An investor presentation
pointed out that the chemical
and pharmaceutical segments to
which the company caters are
doing well.
They mentioned a combined
revenue of around ~2,000 crore
for financial year 2020-21 (FY21).
The earnings before interest, tax,
depreciation and amortisation
(Ebitda) margin is expected to be
13 per cent. SACHIN P MAMPATTA
app, internet banking, by visit-
ing branches and ATMs, or by
contacting the customer care
numbers.
Set limits: You will be able to
set and modify transaction
limits on your cards for all types YOUR
of transactions, both domestic
and international, including
MONEY
PoS, online transactions and
ATM withdrawals. Says Mirjankar:
“These limits can be within the one set
overall by the issuer.”
On/off switch: Cardholders will have
the option to switch on and off their
debit and credit cards for any facility,
transactions. If the only thing
you do these days is online
grocery shopping, then there is
no need to expose your entire
~3 lakh credit card limit, or all
the money in your bank
account, to the risk of fraud.
The incidence of cyber
frauds has been rising during
the pandemic and senior cit-
izens have been impacted most. With
these new tools at your command, even
if you become a victim of cyber or ATM
fraud, the damage will be zero or low if
the usage has been switched off or the
limit has been set low.

U. P. STATE SUGAR CORPORATION LTD.

VIPIN KHAND, GOMTI NAGAR, LUCKNOW-226010
Ph. No. 0522-2307826/28, Fax: 0522-2307895
Email : upstatesugarcorporation@gmail.com, www.upsugcorp.com
Ref. No. PUR/SSC/Tender/WB/2020-21/508 Date : 25.09.2020
SHORT TERM E-TENDER NOTICE
Online e-tenders are invited from original manufacturers / Authorized dealer
(as per details given in tender documents) for Supply of 10 Ton Capacity
Electronic Pit-less type mobile (Foundation less) load cell type weighbridges
to various Units of U.P. State Sugar Corporation Ltd. The e-tender documents
with detailed specifications, terms and conditions etc., can be downloaded
from e-tender portal http://etender.up.nic in & Sugar Corporation's website
www.upsugcorp.com from 26.09.2020.
The Sugar Corporation reserves the right to cancel any or all bids/annul e-bidding
process without assigning any reason to and decision of Corporation will be
final & binding. MANAGING DIRECTOR

GOVERNMENT OF TAMILNADU
FINANCE DEPARTMENT
CHENNAI - 9
Dated: September 25, 2020
PRESS COMMUNIQUE
It is notified for general information that the outstanding
balance of 8.53% Tamil Nadu Government Stock, 2020 issued in
terms of the Government of Tamil Nadu, Finance Department,
Notification No.210(L)/W&M-II/2010, dated October 21, 2010 will
be repaid at par on October 27, 2020 with interest due up to and
> 
 0  ?  *
 7
) 6+ && 8919 3
 + !=""% %%" including October 26, 2020. In the event of a holiday being declared
$ ? %""=&<<#"" &<<#"& &<%#" @ ? +++9 9 on the aforesaid date by any State Government under the Negotiable
 
 Instruments Act, 1881, the loan will be repaid by the paying offices
in that State on the previous working day. No interest will accrue on
    
  
   
  
   !"#$%&& '

 
    """ () 
"" *
  
 $ + ! ""%%"  
   the loan from and after October 27, 2020.
" *   $
, -.
/   
0
 " 1

 
$
    +

     + 2-3
   /4  
  24 ' 5 
 2. As per sub-regulation 24(2) and 24(3) of Government Securities
  

 $6 ( *  ' 
 
     *
 7
) Regulations, 2007 payment of maturity proceeds to the registered
6+ && 8
 1 3
 + !9 holder of Government Security held in the form of Subsidiary
   

 
 
    
   
    
  


':
 5 
   3
       5 
' General Ledger or Constituent Subsidiary General Ledger account


: 5
  ;
+ 7 
<%%%%%&%%%%%""& 5   
  5 or Stock Certificate shall be made by a pay order incorporating the

  +  
+   $,  6) 8 6
 1. 

$
9 relevant particulars of his bank account or by credit to the account
    
    
   
  5 
     = of the holder in any bank having facility of receipt of funds through
    
  
   :
   3
    electronic means. For the purpose of making payment in respect
2
5 

54 +     :
+
)
5  9
of the securities, the original subscriber or the subsequent holders

     of such a Government Securities, as the case may be, shall submit
%
 &'( )*    %
 '+&&( to the Bank or Treasury and Sub-Treasury or branch of State Bank
,-./01 ,-./- ,2%3 /1453 of India, where they are enfaced/registered for payment of interest,
,-6/-1 ,-6-- ,2%4 /1453 as the case may be, the relevant particulars of their bank account.
,-//1 ,-/// ,2% 1- 3. However, in the absence of relevant particulars of bank
,-7031 ,-70/1 ,-70/-1 ,-700 27#0 /143 account/mandate for receipt of funds through electronic means, to
,-70341 ,-70 / 27#0 /1-3 facilitate repayment on the due date, holders of 8.53% Tamil Nadu
,-7-/3 27#- 153 Government Stock, 2020, should tender their securities at the Public
,-,/1 ,-,/01 ,-,/-1 ,-,/31 Debt Office, 20 days in advance. The securities should be tendered
,-,/41 ,-,/1 ,-,//1 ,-,///1 for repayment, duly discharged on the reverse thereof as under:-
,-,/031 ,-,/0//1 ,-,/31 ,-,/301
,-,/31 ,-,/ 1 ,-,//0/1 ,-,//41 “Received the Principal due on the Certificate”.
,-,// 7,)8/ -55 4. It should be particularly noted that at places where the
,-,1 ,-,01 ,-,-1 ,-,31 treasury work is done by a branch of the State Bank of India, the
,-, 1 ,-,51 ,-,41 ,-,1 securities, if they are in the form of Stock Certificates, should
,-,/1 ,-,//1 ,-,///1 ,-,1 be tendered at the branch of the bank concerned and not at the
,-,0/1 ,-, /1 ,-,1 ,-,/001 Treasury or Sub-Treasury.
,-,/0-1 ,-,/5//1 ,-,/1 ,-,/01 5. Holders who wish to receive payment at places other than
,-,// 7,)8 -55 those where the securities have been enfaced for payment should
,-,//1 ,-,//1 ,-,/// 7,)8/ -45 send them duly discharged to the Public Debt Office concerned
,-,/1 ,-,/1 ,-,0/1 ,-,0/1 by Registered and Insured Post. The Public Debt Office will make
,-,/0/1 ,-,/4/1 ,-,// 7,)8 -45 payment by issuing a draft payable at any Treasury/Sub-Treasury or
,-,0/01 ,-,0/ 1 ,-,051 ,-,0//01 branch of State Bank of India conducting Government Treasury work
,-,0///01 ,-,0/0/31 ,-,0/0/ 1 ,-,0/-0 7,)80 303 in the State of Tamil Nadu.
,-,0/0/1 ,-,0/- 7,)80 3-3 S. KRISHNAN
  
  
 
 Additional Chief Secretary to Government,
     
! "
 #
$
 DIPR/833/DISPLAY/2020 Finance Department, Chennai-9.
12 STOCKS
>
NEW DELH 26 SEPTEMBER 2020

> STOCK
IN THE > NCC > Varroc Engineering > Coforge

NEWS Top ‘A group’ gainer,

gains after 7 days of
Hits upper circuit
at 10 per cent
Hits fresh
all-time high at OF THE DAY
continuous fall on he BSE ~2,325 on the BSE IndiaMART InterMESH
~29.8 PREVIOUS CLOSE ~277.8 PREVIOUS CLOSE ~2,113.2 PREVIOUS CLOSE Hits new all-time high at
~34 CLOSE ~305 CLOSE ~2,313.4 CLOSE ~5,297, up 63 per cent
p 13.9% UP p 9.8% UP p 9.5% UP within a month

N FTY 50
m % W m % W
ADVANCES/DECL NE F&0 SNAPSHOT DAY S TOP GA NERS DAY S TOP LOSERS
% % m m m % m m % m
O % %

M U H M H
W
M M M

M
M M m M m
M
m
M
O PUT-CALL RAT O
w m m
U U M
M M
M O
M m m
m
m
m M M
N
M m m
O
M
m MOST TRADED TOP M-CAP TRENDS
M w
M m m M m % m %
m
M
ACT VE CALLS ACT VE PUTS
W % % OW
á MARKET OVERV EW M M

ND O
S&P BSE SENSEX GG G M M

M M
M
m

M
O U N á
w O â
M W OW
M
m
m O
M m
M OW
M SPURT N VOLUMES M
á m
m
m M
m â
M m m % M w
á TRAD NG ACT V TY á
M M â m
W á m
â OW M
WORLD ND CES O M â MM
O M
% %
O M á O w
m O m
m m O
m
w
m m
m m
BOARD MEET NGS NTRA-DAY
m m m
m F S N DER VAT VES 52 WEEK NEW H GHS/LOWS m M
m m
m m m m
M M M
w m m m M
H GH W M
O
O O M
O w O m
O
O Q
M M m
O
W m m m
O
MAJOR ND CES M
m
% m m m m m
m w M m
m m
m
m
m
M M m
S&P BSE SECTORAL ND CES m M
m
m
m m m M w w M
% m w m %
M m W m
%w
w M M mm
w w m
m m m m m m m
Q m m m w m
O m m M W m
Q M M
M W m m
m m m M
M m m w m m W m m
M
m M m
w m m
m m m Q
M M
M w m M
w
M m M M M
O M m M m
M m M
w Q
w w m
O w m
M
M m m w w O w m

> BS 200
WHAT THIS STOCK PAGE CONTAINS AND WHY The third sub-set of The table also contains the (F&O) section a wide set of an option may be exercised. becomes valueless while compared with the previous XD after the traded quotes M
BSE NSE BSE NSE
information is the stock’s company’s price-earnings data has been provided. An option is “in-the-money” futures contracts are close, the close price is indicate that the scrip has
market capitalisation. The (P/E) multiple. The P/E Open Interest: OI is the if the market price exceeds compulsorily settled on underlined. A significant gone ex-dividend after that l ~100 q ~3 Aarti Drugs Aarti Inds<
BS 200 stocks account for over paid-up value . Four
market capitalisation is multiple is arrived at by number of contracts open at the SP (in case of a call option) expiry. On NSE, it is the last change means a 3 per cent date; XB denotes ex-bonus, PCLose (2820.3) (2819.4) (992.0) (992.8)
85 per cent of the volume of categories of information are m ~50 H ~2 Open 2860.0 2883.0 995.0 1003.6
shares, value and trades on provided: First, the basic shown in ~crore and is arrived dividing the day’s closing end of day in the futures and and the market price is below Thursday of every month. rise or fall in scrips whose XR ex-rights; XO ex-indicator
High 2961.3 2960.4 1029.0 1014.0
the Bombay Stock Exchange information on the day’s at by multiplying the closing price by its reported earning options segment. OI thus SP (in case of a put). Put/call ratio: The ratio of market values are over 10 for other corporate actions n ~20 « ~1
Low 2848.0 2850.0 995.0 994.0
and National Stock Exchange. trading. Information is also prices of shares with equity per share (EPS) for trailing 12 indicates traders’ Otherwise it is “out-of- open interest in put options & times paid-up value or 15 per like AGM/EGM/ preference u ~6 Face value Close 2952.4 2951.3 1005.6 1005.1
For BS 200 stocks, the given on the number of capital. It changes either months. EPS is calculated on expectations. High OI is money” call options. cent for the rest of the shares. shares/mergers and others . M of scrips is Shares 23776 232K 10346 292K
because more shares have the basis of consolidated typical when traders see a Expiry date: The date on ABBREVIATIONS: When a The letters H or L appended denotes volume of shares in < ~5 ~10 in all PE 36.8 36.7 37.5 37.5
company name is followed by shares traded, and also the 52 Wk H/L 3725/422 3719/421 1229/662 1229/668
been issued (or extinguished) earnings wherever available. continuing trend. which a derivative expires . significant change occurs in to prices indicate a new high million, L in lakhs & K in cases if not
its BSE group in brackets and price trend with 52-week Q ~4 specified. Mcap 6879 6876 17522 17512
the symbol indicating the highs and lows. or the price has moved. In the futures and options Strike Price: The price at which An unexercised option the day’s closing value or low in the scrip; the letters ‘000’.

BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE
ACC Adani Enter« Adani Gas« Adani Green En Adani PortsH Adani Power Alembic PharmaH Alkem LabsH Alok Inds« Amara Raja« Ambuja CemH Apollo Hosp< Apollo Tyres« Ashok Leyland« Asian Paints« Au Small Fin Aurob Pharma« Av «
PCLose (1302.9) (1303.7) (270.3) (270.5) (175.2) (175.3) (617.0) (617.0) (313.9) (313.8) (36.3) (36.3) PCLose (934.3) (930.3) (2831.1) (2788.4) (23.4) (23.3) (710.2) (710.8) (198.4) (198.3) (1948.7) (1947.7) (115.8) (115.9) (67.3) (67.4) (1919.2) (1918.3) (634.3) (634.4) (743.3) (743.8)
Open 1318.0 1306.0 275.0 275.9 180.5 176.3 647.0 647.8 318.0 319.0 36.2 36.5 Open 950.0 959.8 2790.0 2762.0 23.1 22.8 715.5 712.9 200.0 201.7 1961.0 1967.2 O 115.9 116.3 68.7 68.6 1921.0 1925.3 624.1 617.7 758.0 754.0
High 1338.0 1339.8 283.5 283.6 184.9 184.9 647.9 647.8 329.5 329.7 36.8 36.9 High 958.0 959.8 2822.0 2825.0 23.5 23.7 737.6 737.5 206.7 206.7 2045.0 2047.0 121.3 121.4 76.9 77.0 1954.4 1955.0 664.1 667.7 783.7 783.7
Low 1296.0 1295.9 275.0 275.0 177.5 176.3 627.2 620.9 315.7 315.6 36.2 36.3 Low 930.5 930.1 2766.1 2762.0 22.2 22.2 708.5 707.3 199.0 199.0 1922.1 1920.6 w 113.7 113.6 68.5 68.6 1908.3 1908.0 623.0 617.7 746.4 746.3
Close 1333.1 1333.4 280.4 280.3 183.8 183.8 647.9 647.8 326.4 326.2 36.6 36.6 Close 955.1 955.1 2799.9 2802.4 22.2 22.2 725.9 726.2 205.6 205.5 2030.3 2027.7 120.2 120.2 76.3 76.3 1924.4 1925.6 658.5 656.3 771.9 772.1
Shares 17248 753K 388K 7664K 55498 1485K 70703 254K 127K 6283K 124K 1395K Shares 19564 307K 3909 136K 8855K 43499K 18288 984K 107K 4206K 150K 3666K 557K 10032K 4367K 108390K 71772 1939K 15320 583K 125K 4845K K
PE 21.4 21.4 54.4 54.4 - - - - 19.0 18.9 - - PE 18.6 18.6 24.4 24.4 - - 21.3 21.3 20.5 20.5 116.8 116.6 34.3 34.3 - - 81.4 81.4 29.5 29.4 15.2 15.2
52 Wk H/L 1654/896 1655/895 323/116 322/116 215/77 215/77 699/51 698/52 429/203 429/203 74/24 74/23 52 Wk H/L 1128/436 1129/435 3090/18723090/1871 61/1 59/1 814/350 814/349 232/137 232/137 2045/10472047/1047 W 197/74 197/73 88/34 88/34 2088/14322070/1431 1218/366 1218/366 968/281 968/289
Mcap 25034 25039 30833 30827 20214 20209 101324 101309 66306 66266 14097 14116 Mcap 18772 18772 33473 33502 11023 10998 12398 12403 40815 40805 28246 28209 M 6873 6875 22398 22398 184588 184704 20183 20114 45226 45237

Avenue Supermar Axis BankH Bajaj Auto Bajaj FinH Bajaj Finsrv< Balkrishna IH Bandhan Bank Bank of BarodaH Bata India< BEML Berge Paint« Bharat Dyn Bharat Elctn« Bharat ForgeH Bharti Airtel< Bharti Infratel BHELH Biocon<
PCLose (2046.6) (2047.3) (402.4) (402.5) (2930.4) (2931.9) (3027.9) (3028.9) (5427.2) (5425.7) (1306.9) (1305.8) PCLose (254.8) (254.8) (39.8) (39.8) (1297.9) (1298.9) (606.4) (605.6) (575.3) (575.0) (292.5) (292.5) (90.5) (90.4) (431.7) (431.3) (418.9) (419.3) (168.6) (169.1) (29.9) (29.9) (408.5) (408.3)
Open 2048.0 2042.1 408.4 407.5 2960.0 2955.0 3089.5 3080.0 5471.0 5500.0 1322.3 1312.2 Open 258.0 259.9 40.2 40.2 1314.0 1305.0 606.1 609.0 577.5 578.0 295.6 297.5 O 90.4 91.9 436.1 433.9 429.0 425.0 174.9 175.6 30.0 30.0 412.0 414.7
High 2114.6 2120.0 416.6 416.7 2999.3 2998.5 3164.8 3167.2 5897.2 5906.2 1369.0 1369.8 High 266.6 266.7 41.8 41.9 1320.6 1321.7 614.7 615.0 585.0 585.8 301.2 302.3 94.3 94.4 448.3 448.7 445.0 445.0 184.8 184.8 30.5 30.5 430.1 430.6
Low 2048.0 2042.1 400.4 400.2 2926.6 2926.1 3031.5 3028.8 5438.4 5430.2 1310.0 1308.3 Low 251.4 251.4 39.5 39.5 1292.2 1290.9 594.1 592.9 573.5 573.6 293.0 293.0 w 90.4 91.4 428.9 428.7 422.4 422.2 171.1 171.0 28.9 28.9 410.7 410.5
Close 2103.7 2102.7 415.0 415.1 2960.4 2957.4 3138.3 3139.0 5798.8 5803.3 1356.6 1356.0 Close 265.2 265.0 41.6 41.6 1303.3 1303.0 601.7 602.8 582.4 582.3 297.9 298.3 93.3 93.3 445.3 444.9 439.7 439.7 182.9 182.8 30.1 30.2 427.9 428.0
Shares 10396 326K 403K 20460K 20935 559K 149K 6233K 35766 978K 31056 894K Shares 278K 8088K 805K 21523K 20284 564K 84332 243K 74021 1829K 38066 420K 392K 6478K 71064 2974K 823K 33602K 641K 23941K 4141K 57970K 152K 4536K
PE 128.1 128.0 92.7 92.8 18.6 18.6 40.9 40.9 24.7 24.7 29.4 29.4 PE 15.4 15.4 - - 133.9 133.9 77.1 77.3 96.8 96.8 14.0 14.0 13.8 13.8 85.3 85.2 - - 10.9 10.9 - - 74.3 74.3
52 Wk H/L 2559/17012560/1700 766/285 766/286 3315/17933315/1789 4923/17834923/1783 10297/3986 9950/3985 1432/678 1432/679 52 Wk H/L 650/152 650/152 108/36 108/36 1897/10171895/1000 1108/370 1109/370 597/390 597/389 481/147 482/145 W 122/56 122/56 533/208 534/208 612/326 612/326 296/121 297/120 61/19 61/18 464/212 464/212
Mcap 136268 136207 126981 127012 85664 85578 189111 189153 92282 92354 26223 26211 Mcap 42698 42674 19221 19198 16750 16746 2505 2510 56563 56548 5460 5467 M 22733 22733 20731 20715 239881 239854 33829 33811 10481 10498 51348 51360

BirlasoftH Bosch BPCL Britannia« Cadila Healt« Canara Bank Caplin PointH CDSL Century Tex Chola InvH CiplaH City Union Bk« Coal India Coforge Colgate« Containr Crp< Coromndl Int« Cummins (I)H
PCLose (183.3) (183.6) (12391.4) (12390.5) (377.3) (377.3) (3612.9) (3612.8) (376.0) (376.3) (83.3) (83.3) PCLose (539.0) (538.5) (-) (459.5) (317.6) (317.9) (229.2) (229.8) (732.8) (733.5) (133.8) (133.7) (115.7) (115.7) (2113.2) (2114.4) (1372.8) (1373.9) (370.6) (371.1) (797.5) (795.3) (441.5) (441.5)
Open 184.0 188.7 12516.1 12580.0 378.1 379.0 3621.0 3640.0 381.9 379.0 84.0 84.3 Open 540.1 546.0 - 467.0 316.7 322.0 230.8 232.1 744.0 752.0 133.0 135.0 O 116.0 116.0 2128.4 2135.0 1389.8 1380.1 374.1 372.2 803.7 802.0 444.2 441.6
High 192.7 192.9 13000.0 13000.0 381.2 381.5 3715.0 3717.0 389.0 389.1 87.5 87.5 High 558.0 558.5 - 479.8 330.6 330.8 239.9 240.0 776.6 777.0 136.5 136.5 117.6 117.6 2324.5 2325.9 1419.8 1420.0 379.6 380.0 808.6 809.0 447.3 447.5
Low 184.0 186.0 12449.7 12440.0 365.5 365.3 3615.0 3615.0 375.5 375.5 82.3 82.3 Low 539.5 540.0 - 462.0 316.7 318.5 227.8 227.4 740.6 740.4 132.0 132.0 w 114.0 113.9 2116.7 2114.5 1381.9 1377.0 368.6 368.1 771.5 771.9 439.2 437.8
Close 190.7 190.9 12928.2 12930.1 375.6 375.8 3687.6 3686.4 385.6 385.5 87.2 87.1 Close 551.7 552.3 - 474.1 328.7 328.0 238.6 238.7 770.2 770.1 134.0 133.8 117.1 117.1 2313.4 2304.4 1415.0 1415.7 375.6 375.3 786.1 789.6 446.3 446.8
Shares 107K 1698K 5816 101K 435K 13272K 23047 507K 135K 3903K 306K 8742K Shares 13789 155K - 1436K 24664 757K 112K 5327K 425K 13365K 40919 1040K 928K 15989K 31042 1170K 81942 1004K 25117 1177K 19445 541K 7502 1878K
PE 22.1 22.1 152.9 152.9 22.1 22.1 52.3 52.3 29.7 29.7 - - PE 23.2 23.3 - - 10.6 10.6 16.7 16.7 37.7 37.7 22.2 22.2 5.1 5.1 32.1 32.0 45.5 45.5 109.2 109.1 18.4 18.5 22.9 22.9
52 Wk H/L 206/48 207/47 17137/7874 17260/7850 550/252 549/252 4015/21014010/2100 423/213 423/202 234/74 234/74 52 Wk H/L 686/180 686/176 -/- 514/180 940/220 940/219 349/117 349/117 819/357 819/355 249/110 249/110 W 218/114 218/114 2325/739 2326/735 1641/10651643/1065 665/263 666/263 838/400 839/400 653/282 653/280
Mcap 5284 5288 38125 38131 81477 81510 88759 88732 39474 39464 12675 12660 Mcap 4173 4178 - 4954 3671 3663 19552 19564 62105 62097 9876 9865 M 72166 72166 14015 13960 38487 38507 22885 22864 23048 23150 12371 12384

Dabur India« Deepak NitrtH Divis LabH Dixon Tech DLFH Dr Reddys< Eicher Motor« Emami« Embassy Office Equitas Hold Escorts Exide Ind« Federal BankH Future RetailH GAIL Glenmark« GMR Infra« Godrej Cons«
PCLose (486.7) (486.3) (799.4) (800.0) (3021.3) (3020.4) (8434.4) (8430.1) (146.3) (146.3) (5024.5) (5027.4) PCLose (2039.8) (2034.4) (353.8) (354.4) (360.1) (-) (48.7) (48.7) (1156.8) (1157.9) (154.7) (154.8) (45.8) (45.8) (82.3) (82.4) (82.8) (83.0) (454.1) (454.4) (21.2) (21.1) (691.3) (691.5)
Open 490.3 491.4 823.0 815.8 3067.0 3060.0 8690.0 8625.0 147.3 149.7 5130.0 5120.0 Open 2060.0 2063.9 355.6 354.0 361.6 - 49.3 49.5 1178.5 1168.6 156.8 156.0 O 46.3 46.3 81.0 80.8 84.5 83.7 455.0 459.2 21.9 21.7 695.2 700.0
High 495.8 496.0 826.0 825.5 3108.5 3108.0 8888.0 8900.0 153.0 153.0 5150.0 5153.0 High 2134.7 2135.0 355.6 358.4 365.0 - 53.8 53.8 1207.7 1208.0 164.8 164.8 47.9 48.0 86.5 86.5 85.7 85.6 484.9 485.0 23.7 24.2 714.9 715.0
Low 488.8 488.3 790.9 791.2 3005.0 3004.7 8594.5 8591.8 147.3 148.2 5050.0 5044.0 Low 2050.0 2050.0 350.0 350.0 361.1 - 49.0 48.7 1163.0 1162.3 154.3 154.2 w 45.4 45.4 78.5 78.4 83.2 83.1 455.0 458.1 21.5 21.5 695.2 697.1
Close 492.4 492.6 800.5 801.2 3061.5 3060.8 8799.5 8793.4 151.3 151.4 5114.1 5112.2 Close 2118.2 2117.5 352.1 351.9 362.0 - 52.3 51.7 1203.1 1203.4 160.4 161.1 47.8 47.7 86.5 86.5 85.1 85.2 482.8 482.6 23.6 23.5 701.4 702.1
Shares 64965 2817K 84889 1529K 34815 1595K 3917 29285 824K 11734K 102K 3514K Shares 68624 1533K 5721 237K 4800 - 192K 4469K 85089 1760K 253K 5279K 2375K 32272K 533K 8326K 928K 13060K 102K 2924K 2608K 51369K 47347 2235K
PE 61.1 61.2 21.8 21.8 50.9 50.9 103.3 103.3 - - 43.7 43.7 PE 43.8 43.8 51.6 51.6 - - 253.7 251.0 33.1 33.1 21.1 21.2 6.1 6.1 6.6 6.6 6.9 6.9 14.8 14.8 - - 48.3 48.4
52 Wk H/L 528/385 528/386 888/285 888/286 3388/15953389/1595 10281/2671 10290/2663 267/115 267/115 5515/24985513/2495 52 Wk H/L 2389/12462387/1245 407/141 408/131 518/301 -/- 121/33 121/33 1280/527 1281/526 208/122 208/125 W 97/36 97/36 404/61 404/61 140/66 140/65 573/168 573/162 28/14 28/14 772/425 772/425
Mcap 87027 87062 10919 10928 81266 81248 10181 10174 37451 37464 85026 84995 Mcap 57869 57850 15649 15642 27934 - 1786 1767 16221 16225 13634 13694 M 9521 9511 4688 4691 38381 38426 13625 13618 14215 14184 71718 71790

Godrej Prpty< Granules« Grasim IndH HAL Havells I« HCL TechnoH HDFCH HDFC AMC< HDFC Bank« HDFC Std Life HEG Hero MotoCorpH Hexaware TchH Hind ZincH Hindalco« HPCL HUL« ICICI BankH
PCLose (849.8) (849.8) (360.6) (360.6) (680.4) (679.7) (778.2) (778.9) (669.2) (664.2) (788.0) (788.3) PCLose (1637.8) (1636.8) (2104.1) (2103.3) (1029.9) (1030.4) (577.7) (577.7) (740.9) (742.0) (2918.1) (2918.3) (466.9) (467.2) (205.4) (205.3) (159.1) (159.1) (172.4) (172.3) (2060.3) (2060.9) (335.8) (335.7)
Open 872.0 853.9 395.0 395.0 684.5 683.0 783.0 784.0 675.0 667.1 795.2 795.3 Open 1657.8 1652.0 2106.5 2125.0 1053.0 1050.0 573.0 577.3 755.0 752.0 2926.0 2934.6 O 466.5 467.0 206.0 206.8 162.0 162.0 174.0 173.8 2087.8 2082.0 338.1 339.1
High 872.0 869.0 395.0 395.0 711.9 712.2 796.3 796.0 675.0 669.9 835.8 836.0 High 1657.8 1657.8 2150.0 2131.0 1053.0 1052.0 580.0 580.5 777.0 777.7 3015.0 3015.2 468.7 468.5 210.8 210.9 164.8 164.9 179.4 179.7 2111.5 2111.0 350.4 350.5
Low 846.8 850.0 370.3 370.1 684.5 683.0 763.0 762.2 651.0 650.7 793.0 792.6 Low 1628.6 1628.1 2071.0 2070.1 1026.3 1025.7 571.8 571.3 746.0 745.1 2926.0 2925.1 w 464.0 463.7 203.1 205.7 157.7 157.7 172.4 172.3 2070.2 2070.9 336.6 336.6
Close 853.0 854.5 375.8 376.0 708.0 708.2 767.8 767.7 658.7 659.1 827.5 827.7 Close 1651.8 1652.0 2111.2 2110.8 1044.1 1044.0 577.3 577.5 766.2 766.2 3000.5 3002.0 466.8 467.2 208.2 209.2 162.1 162.1 178.5 178.6 2077.8 2079.1 348.5 348.7
Shares 21014 258K 484K 7822K 52219 2258K 28123 721K 77223 1730K 498K 19813K Shares 88940 4047K 35315 374K 275K 10161K 54493 2060K 29493 771K 26181 1264K 25224 1311K 52296 659K 413K 20237K 442K 6937K 44532 2529K 898K 23232K
PE 136.9 137.1 25.6 25.6 13.6 13.6 10.5 10.5 66.3 66.3 19.1 19.1 PE 16.8 16.8 - - 21.0 21.0 88.2 88.2 - - 24.6 24.6 20.6 20.7 13.7 13.8 65.4 65.4 5.9 5.9 71.1 71.2 27.9 27.9
52 Wk H/L 1188/506 1189/505 395/93 395/95 837/380 837/385 1424/448 1423/470 739/447 739/447 850/376 850/375 52 Wk H/L 2500/14732500/1473 3844/19643844/1962 1304/739 1306/739 648/339 648/340 1300/413 1300/410 3180/14753181/1475 W 469/202 469/202 259/122 259/116 221/85 221/85 329/155 329/150 2614/17562614/1757 552/269 552/268
Mcap 21502 21539 9300 9305 46583 46593 25673 25671 41235 41257 224555 224609 Mcap 296341 296377 44942 44934 574614 574586 116573 116624 2958 2957 59934 59965 M 14011 14023 87971 88372 36401 36401 27193 27215 488188 488494 240329 240433

ICICI Lombard ICICI Prud Life ICICI Securitie< IDFC First Bank India Cement Indiabulls HousH IndiaMART Int Indian Hotel« Indraprst GsH IndusInd Bank Info Edge Infosys< InterGlobe Avia IOC IOL Chem Ipca LabsH IRB Infra IRCTC
PCLose (1252.3) (1251.3) (414.0) (414.3) (466.7) (466.6) (27.0) (27.0) (115.9) (116.1) (138.9) (138.8) PCLose (4815.3) (4817.7) (91.0) (90.9) (392.4) (393.3) (490.2) (490.3) (3376.6) (3375.8) (975.3) (975.4) (1196.8) (1197.3) (71.9) (72.0) (722.2) (722.7) (2065.9) (2070.2) (102.3) (102.2) (1337.8) (1338.8)
Open 1261.0 1260.0 420.0 417.0 465.0 467.0 27.3 27.4 117.3 117.4 142.0 140.6 Open 4927.4 4911.7 91.0 90.9 399.0 399.4 499.9 499.9 3449.0 3400.0 985.0 975.8 O 1207.0 1218.0 72.0 72.4 735.0 735.0 2080.6 2081.3 104.0 104.0 1365.0 1360.0
High 1275.8 1278.0 420.0 417.5 466.0 467.0 29.5 29.5 118.5 118.6 146.8 146.9 High 5296.8 5299.5 94.8 94.7 407.1 407.4 520.8 521.3 3491.0 3492.4 1014.1 1014.9 1250.0 1251.0 74.4 74.4 751.0 752.0 2129.8 2129.0 110.5 110.7 1365.0 1360.0
Low 1236.6 1235.6 397.7 397.6 453.1 453.6 27.2 27.2 115.4 115.4 127.7 127.8 Low 4853.8 4857.7 89.4 89.3 398.3 397.9 491.3 491.2 3405.1 3400.0 976.9 975.0 w 1197.2 1196.6 71.9 71.9 725.2 725.0 2046.9 2046.1 104.0 104.0 1340.4 1340.0
Close 1270.1 1270.1 414.9 414.9 456.0 457.0 29.3 29.4 117.0 116.9 145.4 145.3 Close 5258.0 5254.0 92.2 91.7 403.2 403.3 514.6 514.9 3447.9 3450.2 1011.1 1011.5 1244.3 1241.7 74.2 74.1 747.0 746.9 2069.1 2067.3 108.5 108.5 1353.0 1352.1
Shares 8671 482K 86300 3499K 12776 302K 3908K 46589K 65713 934K 5898K 60821K Shares 10865 279K 163K 2496K 43575 2324K 633K 19312K 9846 458K 316K 13311K 74796 1339K 1403K 24754K 49361 609K 131K 281K 86898 1373K 16117 223K
PE 45.0 45.0 55.6 55.6 23.6 23.7 - - - - 4.0 4.0 PE - - 159.3 158.3 29.7 29.7 11.3 11.3 199.6 199.7 25.3 25.3 - - - - 10.9 10.9 26.8 26.8 7.9 7.9 - -
52 Wk H/L 1440/806 1440/805 538/222 537/226 569/204 569/204 48/18 48/18 140/69 140/70 436/81 437/81 52 Wk H/L 5297/16415299/1641 162/62 162/62 534/285 534/284 1596/236 1597/236 3615/15803618/1581 1037/511 1037/509 W 1898/765 1899/771 156/71 156/71 898/147 899/146 2236/844 2236/845 139/46 139/46 1995/625 1994/625
Mcap 57725 57723 59575 59568 14690 14724 16620 16648 3624 3623 6723 6716 Mcap 15217 15205 10965 10900 28224 28228 38916 38939 44333 44362 430649 430819 M 47881 47781 69806 69759 4386 4385 26143 26120 3811 3811 21647 21633

ITC« ITI Jindal Steel« JSW Steel« Jubilant Fd Jubilant Lif« Just Dial Kotak Mah Bank< L & TH L & T Infotech« L&T Finance Hol Laurus Labs LIC Hsg FinH LupinH M & M FinH Mah & Mah< Maha Gas Manapp FinanceH
PCLose (166.6) (166.6) (117.6) (117.6) (164.1) (164.2) (258.7) (258.5) (2264.9) (2261.6) (698.8) (699.0) PCLose (343.9) (343.6) (1245.9) (1246.1) (850.3) (850.7) (2437.9) (2414.4) (56.3) (56.3) (1291.4) (1291.8) (261.2) (261.1) (979.5) (979.6) (113.5) (113.4) (573.8) (575.1) (818.5) (818.0) (140.8) (140.8)
Open 169.0 168.9 118.0 118.9 169.0 167.9 259.1 261.1 2270.0 2292.0 715.0 712.8 Open 347.0 340.2 1258.8 1255.1 864.0 860.1 2397.0 2389.0 57.0 56.9 1305.0 1320.0 O 263.9 263.2 980.5 987.0 116.2 117.0 584.0 583.9 815.2 821.5 141.2 144.8
High 171.3 171.2 121.7 121.6 179.7 179.7 270.4 270.5 2327.5 2328.0 724.0 725.0 High 375.0 375.9 1259.1 1258.4 895.0 895.4 2494.1 2494.9 58.7 58.7 1359.6 1359.0 272.0 272.3 1022.4 1022.9 121.1 121.0 595.5 595.5 836.1 836.3 153.6 153.6
Low 167.1 167.0 117.5 117.3 166.4 166.5 258.8 258.8 2269.0 2268.0 706.0 705.0 Low 333.1 332.3 1231.2 1230.6 852.0 852.0 2370.0 2370.0 55.6 55.6 1275.0 1278.1 w 261.0 260.9 978.8 978.0 114.9 114.8 576.9 576.6 813.0 812.2 141.2 142.0
Close 170.8 170.8 120.8 120.8 175.9 175.9 268.4 268.4 2313.8 2314.2 718.9 719.2 Close 371.2 371.1 1249.5 1253.1 889.3 889.3 2459.7 2473.7 58.3 58.3 1327.1 1328.1 270.5 270.5 997.8 998.9 120.3 120.3 592.7 592.3 822.2 821.3 153.1 153.1
Shares 1799K 26628K 69590 882K 822K 19509K 191K 6843K 15311 576K 17618 294K Shares 117K 2596K 121K 3640K 164K 4962K 11225 270K 865K 11416K 91598 1638K 141K 3283K 94280 3803K 818K 12207K 142K 5416K 78015 1052K 344K 10626K
PE 14.7 14.7 102.0 102.0 278.0 278.0 26.8 26.8 238.5 238.5 14.3 14.3 PE 7.7 7.7 29.0 29.1 14.9 14.9 27.2 27.3 9.0 9.0 34.5 34.6 5.2 5.2 - - 15.0 15.0 - - 12.1 12.1 8.3 8.3
52 Wk H/L 266/135 266/135 152/45 152/45 238/62 239/62 297/133 297/133 2422/11422424/1138 910/230 909/234 52 Wk H/L 718/251 718/250 1740/10001740/1001 1496/661 1496/661 2792/12082794/1210 134/46 134/46 1550/304 1550/295 W 486/186 487/185 1122/505 1122/505 246/76 246/76 666/246 667/245 1247/666 1246/664 195/76 195/74
Mcap 210169 210108 11175 11175 17942 17937 64866 64866 30535 30540 11451 11456 Mcap 2293 2292 247291 248004 124862 124855 42922 43166 11698 11698 14227 14237 M 13648 13651 45215 45265 14864 14857 73684 73635 8122 8113 12955 12950

Marico« Maruti Suzuki< Max Fin SreH MCX Mindtree Mothersons S« Mphasis MRF Muthoot Finance Nat Alum< Natco PharmaH NBCC« NCCH Nestle India Nippon Life Ind NMDC« NTPC ONGC<
PCLose (342.8) (342.6) (6295.9) (6297.7) (580.3) (579.8) (1630.7) (1631.6) (1248.6) (1248.2) (104.1) (103.9) PCLose (1265.9) (1265.2) (55562.5) (55618.9) (1017.9) (1018.8) (30.1) (30.0) (852.2) (852.0) (22.9) (22.9) (29.8) (29.9) (15257.8) (15258.8) (251.6) (251.3) (75.8) (75.8) (82.7) (82.7) (66.4) (66.7)
Open 344.3 345.0 6370.1 6395.0 573.3 586.3 1644.4 1632.0 1250.0 1268.0 105.2 106.0 Open 1299.0 1288.0 57000.0 55910.0 1020.0 1023.0 30.2 30.5 860.2 869.9 22.9 23.0 O 30.2 30.4 15300.0 15495.0 257.0 257.0 77.2 76.8 83.1 83.4 68.0 68.0
High 361.6 362.0 6518.2 6518.6 601.1 601.7 1675.5 1675.4 1288.3 1289.0 110.5 110.7 High 1305.6 1307.9 57932.0 58000.0 1093.5 1095.0 32.0 32.0 905.0 905.5 24.8 24.7 34.4 34.5 15828.1 15830.0 259.6 260.0 79.6 79.7 85.0 85.2 69.3 69.3
Low 344.3 343.1 6333.4 6331.0 572.0 571.7 1614.0 1612.6 1240.0 1224.0 105.0 104.9 Low 1252.2 1252.0 55729.8 55701.1 1020.0 1023.0 30.2 30.2 851.2 851.3 22.9 23.0 w 29.8 29.8 15300.0 15301.0 249.0 249.0 76.0 75.9 82.5 82.4 66.2 66.2
Close 353.5 353.5 6496.2 6497.7 593.6 594.3 1633.2 1636.8 1268.4 1268.9 110.0 109.9 Close 1271.7 1271.7 57477.2 57461.5 1089.3 1087.6 31.8 31.8 885.6 886.7 24.5 24.5 34.0 33.9 15734.3 15736.8 254.3 254.8 79.4 79.3 84.7 84.8 68.9 68.9
Shares 153K 7056K 33531 1316K 24136 749K 21831 291K 54193 1178K 558K 9459K Shares 8817 473K 1086 12635 71519 3021K 843K 12175K 49330 746K 706K 6318K 956K 20571K 12567 178K 50721 769K 399K 7593K 638K 16000K 858K 20236K
PE 41.7 41.7 49.5 49.5 202.3 202.5 38.1 38.2 27.8 27.8 1238.3 1237.1 PE 19.9 19.9 21.3 21.3 13.2 13.1 103.9 103.9 36.7 36.8 124.8 125.1 6.5 6.5 72.9 72.9 34.9 35.0 8.2 8.2 8.4 8.4 11.1 11.1
52 Wk H/L 401/234 401/234 7755/40027759/4001 642/280 642/276 1859/805 1859/815 1342/676 1342/675 151/49 151/49 52 Wk H/L 1418/612 1420/630 73500/50000 73566/49915 1405/478 1406/477 49/24 49/24 932/450 930/403 45/14 46/14 W 70/16 69/16 18301/12589 18370/12200 453/201 453/208 140/62 140/62 125/74 125/73 150/52 150/50
Mcap 45644 45644 196236 196283 15999 16018 8329 8347 20887 20895 34721 34690 Mcap 23728 23729 24370 24364 43688 43619 5933 5933 16121 16142 4401 4410 M 2070 2067 151710 151734 15574 15602 24295 24280 83807 83906 86678 86678

Page Inds Petronet LNG Phoenix MillH PI Inds« Pidilite Ind« Piramal EntpH PNBH Power Fin Power Grid PVR Rallis« Ramco Cements« Raymond RBL Bank REC Reliance Ind Rossari BiotechH SAIL
PCLose (18896.9) (18871.8) (210.8) (210.7) (548.7) (548.3) (1889.4) (1892.2) (1399.9) (1399.5) (1192.5) (1193.8) PCLose (28.0) (28.0) (82.6) (82.6) (159.6) (159.4) (1062.7) (1061.7) (280.1) (279.0) (693.4) (694.8) (253.1) (253.2) (157.7) (157.8) (95.3) (95.3) (2181.1) (2181.2) (746.3) (747.5) (32.8) (32.8)
Open 18999.0 18950.0 214.2 212.0 555.0 551.1 1886.4 1902.2 1396.4 1407.7 1229.6 1200.0 Open 28.2 28.3 83.1 83.3 158.0 161.0 1052.0 1062.0 286.8 281.9 709.0 703.6 O 256.3 255.5 161.5 161.0 97.4 96.4 2196.0 2189.0 751.0 762.0 33.7 33.4
High 19778.2 19800.0 222.1 222.0 559.2 558.3 1922.8 1925.6 1421.7 1421.5 1253.7 1253.9 High 29.3 29.3 85.7 85.8 162.5 162.5 1111.8 1112.2 287.0 287.3 710.2 711.6 264.4 264.4 165.6 165.9 99.7 99.9 2212.6 2212.8 784.0 775.0 34.6 34.6
Low 18999.0 18900.0 212.6 212.0 547.6 548.0 1886.4 1890.0 1390.6 1390.0 1183.8 1183.3 Low 27.7 27.7 82.9 82.8 158.0 159.7 1052.0 1055.6 277.5 277.5 688.9 687.8 w 255.6 255.1 158.5 158.6 96.1 96.2 2168.6 2167.3 751.0 753.0 33.0 32.9
Close 19696.8 19700.3 219.3 219.3 553.8 553.8 1911.4 1914.4 1413.4 1413.0 1245.6 1246.4 Close 29.1 29.1 85.4 85.4 160.9 160.8 1101.0 1101.0 284.5 284.6 709.0 709.4 263.5 263.6 165.0 165.0 99.1 99.1 2201.7 2201.7 772.1 769.0 34.4 34.4
Shares 5430 84635 139K 6119K 2598 64313 29604 321K 34686 434K 34351 1158K Shares 2309K 31740K 215K 5100K 137K 4929K 168K 2195K 32357 456K 15960 725K 33168 496K 553K 17081K 235K 5221K 413K 13096K 12042 197K 929K 17494K
PE 113.8 113.8 12.4 12.4 55.6 55.6 61.3 61.3 84.5 84.4 383.4 383.7 PE - - 3.8 3.8 8.1 8.1 - - 26.2 26.2 32.2 32.2 - - 22.1 22.1 3.7 3.7 32.9 32.9 - - 20.8 20.8
52 Wk H/L 26891/16187 26883/16254 297/171 298/170 980/466 979/465 2154/974 2160/970 1710/11861710/1186 1829/608 1829/607 52 Wk H/L 70/26 70/26 133/74 133/74 211/130 211/122 2083/707 2087/705 340/127 340/125 883/457 884/455 W 838/210 829/210 402/102 402/102 157/79 157/79 2369/867 2369/867 858/664 859/664 52/20 52/20
Mcap 21962 21966 32895 32888 9508 9509 28996 29041 71812 71795 28093 28111 Mcap 27338 27338 22533 22533 84150 84098 6074 6074 5533 5534 16703 16712 M 1754 1754 8394 8392 19562 19562 1395748 1395748 4011 3995 14189 14189

SBI« SBI Card & Pay SBI Life Ins Sequent ScH Shree Cement Shriram TrFn SiemensH SRF Sterlite TchH Strides Pharma Sun Pharma« Sun TV Net< Tata Chem Tata Consumer P« Tata Elxsi Tata Mot-DVRH Tata MotorsH Tata Power«
PCLose (176.4) (176.4) (816.0) (816.1) (797.5) (804.4) (142.6) (142.6) (18336.8) (18341.9) (565.8) (563.8) PCLose (1211.1) (1211.4) (4007.1) (4005.6) (140.5) (140.4) (641.3) (641.3) (485.4) (485.8) (442.9) (442.7) (278.6) (278.8) (488.8) (488.6) (1184.9) (1188.0) (57.3) (57.3) (122.8) (122.8) (50.3) (50.5)
Open 179.1 179.0 812.5 813.1 797.0 796.0 147.6 144.5 18485.4 18391.5 570.3 572.0 Open 1201.0 1217.4 4050.0 4032.0 142.0 142.9 646.1 650.0 497.0 496.0 455.0 445.3 O 282.0 281.2 499.2 498.8 1190.0 1194.0 58.5 58.7 125.0 123.7 50.7 51.1
High 182.8 182.8 824.0 824.3 813.0 813.5 148.2 148.0 19140.0 19150.0 593.7 593.8 High 1221.8 1226.8 4111.0 4112.0 145.0 145.6 666.9 666.9 497.0 496.0 459.8 459.9 293.1 293.1 512.0 512.0 1280.0 1280.0 59.8 59.9 128.4 128.4 53.4 53.4
Low 176.3 176.2 807.0 806.9 780.0 780.0 141.0 140.7 18380.0 18364.6 570.3 571.1 Low 1186.8 1186.0 4030.1 4026.0 139.2 139.3 646.1 647.0 484.1 483.9 440.6 440.6 w 281.8 281.2 495.2 495.3 1190.0 1194.0 58.2 58.2 123.1 123.1 50.7 50.7
Close 182.2 182.2 812.1 812.1 796.3 797.1 146.2 146.3 19001.5 19008.5 590.0 590.3 Close 1207.8 1207.7 4086.5 4084.2 143.4 143.3 660.2 661.5 489.5 489.7 457.8 458.0 290.3 290.7 509.7 509.8 1269.7 1266.5 59.1 59.1 127.4 127.3 53.1 53.1
Shares 3469K 46551K 35294 762K 43260 2252K 86807 1092K 740 55983 151K 4219K Shares 16799 616K 4886 123K 154K 1421K 133K 784K 168K 9665K 144K 2273K 95331 2955K 195K 5153K 362K 783K 248K 3723K 3392K 65043K 1641K 24166K
PE 7.5 7.5 - - 55.3 55.3 135.3 135.4 43.4 43.5 6.8 6.8 PE 56.5 56.5 25.2 25.2 17.7 17.7 43.4 43.5 162.7 162.8 14.2 14.2 1.1 1.1 89.6 89.6 28.6 28.6 - - - - 16.0 16.0
52 Wk H/L 351/150 351/149 868/495 868/495 1030/520 1030/519 158/52 158/52 25341/15500 25355/15410 1332/429 1332/429 52 Wk H/L 1717/947 1717/948 4475/24924475/2468 175/60 175/59 745/271 745/268 565/315 565/312 551/260 551/260 W 779/197 780/197 592/214 592/214 1330/501 1331/500 84/28 84/28 202/64 202/64 64/27 64/27
Mcap 162606 162606 76248 76248 79629 79709 3630 3633 68557 68582 14929 14938 Mcap 43008 43006 23489 23476 5664 5660 5917 5929 117434 117482 18039 18049 M 7394 7406 46969 46983 7907 7887 3003 3003 39338 39307 16967 16967

Tata Steel TCS« Tech Mahindra< Titan Company« Torrent Phar< Torrent Pwer TVS Motor« Ujjivan Fin Ser UltraTech United Brew« United SpirtH UPLH Vedanta« Vodafone Idea Voltas« WiproH YES BankH Zee Enter«
PCLose (343.9) (343.9) (2331.5) (2332.3) (751.3) (751.8) (1095.8) (1096.2) (2649.0) (2650.3) (307.9) (307.0) PCLose (433.6) (435.3) (202.3) (202.1) (3775.9) (3777.8) (920.7) (920.5) (495.5) (495.5) (505.2) (505.1) (132.0) (131.8) (9.1) (9.1) (648.6) (650.0) (304.6) (304.7) (13.0) (12.9) (190.1) (190.4)
Open 349.0 348.0 2370.0 2368.0 753.0 755.1 1096.0 1097.6 2681.5 2673.9 310.0 308.5 Open 439.0 438.5 209.5 205.0 3820.3 3790.0 942.0 921.0 502.2 501.9 506.1 509.0 O 132.0 132.4 9.4 9.4 653.9 652.1 306.5 306.3 13.0 13.0 196.0 197.6
High 355.8 355.6 2439.8 2440.0 777.1 777.4 1114.1 1115.0 2726.0 2729.0 313.8 313.8 High 450.9 450.9 209.5 207.9 3870.0 3879.9 960.4 960.9 515.5 515.6 513.5 513.8 138.3 138.4 10.5 10.5 672.5 674.0 315.0 315.3 13.6 13.6 201.3 201.5
Low 344.4 344.2 2350.1 2352.1 749.1 748.7 1081.3 1081.3 2631.1 2630.0 308.2 307.9 Low 431.7 431.6 198.1 198.0 3762.3 3760.1 924.9 920.5 498.0 496.6 500.8 500.8 w 131.8 131.7 9.1 9.0 640.0 639.4 304.3 304.2 13.0 13.0 183.3 183.2
Close 351.9 352.1 2422.3 2422.3 772.6 772.4 1109.2 1109.4 2719.0 2719.3 311.1 311.3 Close 447.2 447.0 205.7 205.6 3859.5 3858.5 952.2 952.2 511.7 511.6 504.9 504.7 137.0 137.1 10.4 10.3 670.1 670.0 313.9 313.9 13.4 13.4 198.4 198.2
Shares 316K 12243K 237K 8228K 218K 6987K 484K 2276K 13490 615K 15322 575K Shares 45291 1881K 72693 1043K 10290 322K 37157 719K 33862 1640K 337K 4858K 972K 26165K 130005K 506323K 28534 1900K 418K 22007K 20762K 113066K 1360K 61557K
PE - - 29.1 29.1 18.5 18.4 112.3 112.3 40.7 40.7 11.8 11.8 PE 68.3 68.3 283.5 283.4 20.9 20.9 169.6 169.6 127.3 127.3 19.7 19.7 - - - - 51.2 51.2 18.4 18.4 - - 723.0 722.5
52 Wk H/L 506/251 506/251 2554/15042555/1506 846/470 846/471 1390/720 1390/721 3040/15553031/1555 369/240 369/232 52 Wk H/L 503/240 504/240 415/125 416/125 4753/29134754/2910 1400/759 1366/750 743/443 743/443 618/240 618/240 W 167/60 167/60 13/3 14/2 741/428 741/427 325/160 325/159 88/6 87/6 363/114 364/114
Mcap 39641 39664 908944 908944 74659 74640 98470 98488 46011 46015 14952 14959 Mcap 21246 21235 2501 2500 111397 111368 25175 25175 37179 37172 38577 38558 M 50926 50944 29770 29597 22172 22170 179378 179378 33498 33448 19052 19037
Weekend Business Standard NEW DELHI | 2 6SEPTEMBER, 2020 POLITICS 13
ASSAM POWER DISTRIBUTION COMPANY LIMITED

Bihar polls in 3 phases;

A fully customer centric company
PUBLIC NOTICE TENDER CANCELLATION NOTICE

& ICICI Bank It is for general information that due to some unavoidable
ICICI B A N K L I M I T E D circumstances (he tenders for "Cons(ruction of new 33/11 kvsubstation
CIN-L65190GJ1994PLC021012 with construction of new 33kv Terminal Bay, construction of 33kv &

counting on Nov 10: EC

R e g i s t e r e d Office: ICICI Bank Tower, Near Chakli Circle,
Old Padra Road, Vadodara 390 007, P h : 0265-6722239
Corporate Office: ICICI Bank Towers, Bandra-Kurla Complex,
Mumbai 400 051, Ph: 022-26538900, F a x : 022-26531228
E m a i l : investor@icicibank.com. Website: www.icicibank.com
N O T I C E is hereby given that, in terms of Regulation 29 read with
Regulation 47 of the Securities and E x c h a n g e Board of India (Listing
11 kv lines for Distribution System Enhancement and Loss Reduction"
in Mangaidoi Electrical Circle against IFT No. APDCL/DSELR/MGD/
01, Bongargaon Electrical Circle against IFT No. APDCL/DSELR/BNG/
01, Kokrajhar Electrical Circle against IFT No. APDCL/DSELR/KJH/
01, North Lakhimpur Electrical Circle against IFT No. APDCL/DSELR/S
NLP/01 and Barpeta-Rangia Electrical Circle against I F T No. APDCL/ 3
DSELR/RNG/01 are cancelled. =

THE OUTGOING ASSEMBLY

PRESS TRUSTOF INDIA Obligations and Disclosure Requirements) Regulations, 2 0 1 5 ("Listing The details can be viewed in w w w a p d c l . o r g and w w w . a s s a m t e n d e r s . Q o v . i n L
New Delhi, 25 September Regulations"), the Board of Directors of the Bank will, consider inter alia, Sd/- C h i e f P r o j e c t M a n a g e r ( P I U ) E A P , A P D C L , G u w a h a t i - 1 "i

Party-wise seat
the approval of the unaudited financial results for the quarter and half-
Please pay your energy bill on time and help us to serve you better!
oting for Bihar assembly elections y e a r ending September 3 0 , 2 0 2 0 at its Meeting to be held on Saturday,

V will be held in three phases on

October 28, November 3 and
November 7 in one of the biggest elec-
tions globally during the Covid-19 pan-
0ctober31,2020.
T h e financial results will b e available on the Bank's website at
w w w . i c i c i b a n k . c o m after the approval of the Board.
In a c c o r d a n c e with Regulations 46(2) and 47(2) of the Listing
Regulations, Notice of the said meeting for the above purpose h a s been
ti3iiai ^ S I F I STH f l punjab national bank

HO: PRINTING & S T A T I O N E R Y D E P A R T M E N T

...the name you can BANK upon/

demic, followed by counting of votes on
November 10, the Election Commission
announced on Friday.
The ruling NDA in the politically-
hosted on the website of the Bank at w w w . i c i c i b a n k . c o m . and that of C - 1 3 . S E C T O R - 1 . NQIDA-201301 (U.P.)
the Stock E x c h a n g e s at 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 . E - T E N D E R F O R P R O C U R E M E N T O F M I C R P A P E R IN R E E L F O R M
Vacant 3 F o r ICICI B a n k L i m i t e d
O p e n e-tenders are invited for procurement of 2,35,655.20 K g o f 9 5
POLL SCHEDULE
G S M M I C R P a p e r in R e e l form of s i z e 4 3 . 5 c m f r o m P a p e r Mills o r

crucial state will face a challenge from Date : S e p t e m b e r 25, 2 0 2 0

S d /-
Ranganath Athreya
t h r o u g h their Authorized/ N o m i n a t e d Distributor(s) which fulfill the

the RJD-Congress alliance, though Phase 1 Phase 2 Phase 3 ^ P l a c e : Mumbai Company Secretary J Eligibility Criteria 8t Technical Specification of P a p e r specified by the

uncertainty still prevails over the com- Polling Oct 28 Nov 3 Nov 7
bank. For detailed description, interested bidders may refer tender
document.
position of the two main political blocks
and about a number of smaller parties Seats 71 94 78 T h e tender document c a n be collected personally from 26.09.2020
onward during working hours from this office or the s a m e c a n b e
as to which way they will go in this bat- Last date o f downloaded from Bank's e-procurement portal https://etender.
tle of alliances. nomination
Oct 8 Oct 16 Oct 20 p n b n e t . i n and Bank's website w w w . n n b i n d i a . i n . Non-refundable
While the BJP-JD(U) alliance and the tender fee of Rs.1,180/- ( R u p e e s O n e T h o u s a n d O n e Hundred and

Congress-RJD combine are firmly in place, D-DAY

Eighty only) payable in the form of Account P a y e e D e m a n d Draft in

a key NDA member LJP and some oppo- favour of the Chief Manager, Punjab National Bank, Printing & Stationery

sition parties like former Union minister Counting Nov 10 RFP for Asset Management Company (AMC) •eptt., is to be enclosed with the tender documents.
T h e last date of submission of e-tender through Bank's e-procurement
Upendra Kushwaha-headed RLSP have Total n u m b e r o f districts 38 CEC Sunil Arora said voting will begin NSIC Venture Capital F u n d Limited ( N V C F L ) i s a wholly portal is 09.10.2020 u p to 0 1 : 0 0 p.m. CHIEF MANAGER
kept their options open. The announce- as usual at 7 am but the period will be owned subsidiary of The National Small Industries
ment of dates by the Election Commission Electorate 72.9 mn
extended by one hour until 6 pm Corporation Ltd., a Mini-Ratna Corporation o f the
is likely to speed up the process of political o
Call on bypolls on Sept 29, says CEC
G o v e r n m e n t of India u n d e r the Ministry of M S M E . N V C F L is
realignment in the coming days. in t h e p r o c e s s f o r s e t t i n g u p o f S e l f R e l i a n t I n d i a ( S R I ) F u n d , a n
Reliance
In the outgoing assembly, the RJD has F o F to b e r e g i s t e r e d a s a n A l t e r n a t i v e I n v e s t m e n t F u n d . Industries Limited
80 members while the JD (U) has 69. The G r o w t h is Life

BJP has 54 seats, Congress has 25, while PRESS TRUST OF INDIA said on Friday. E a r l i e r , t h e EC h a d s a i d
NVCFL requires services of a reputed Indian A M C with
Regd.office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai - 400 021.
the remaining seats in the 243-member New Delhi, 25 September R e s p o n d i n g to in a s t a t e m e n t t h a t Bihar
c o m p r e h e n s i v e e x p e r i e n c e , e x p e r t i s e a n d c a p a b i l i t y in t h e field
Phone: 022-3555 5000. Email: investor.relations@ril.com

assembly are held by other parties. questions on t h e issue elections a n d t h e bypolls

of F u n d M a n a g e m e n t of A l F s , V C F s , P E s , etc. CIN:LI7II0MHI973PLC0I9786

The NDA has already announced that
JD(U) president and Chief Minister Nitish
Kumar will be its face for the top job in the
T h e Election C o m m i s s i o n
w i l l t a k e a call o n bypolls to
o n e Lok S a b h a a n d 6 4
d u r i n g a press c o n f e r e n c e
to a n n o u n c e t h e s c h e d u l e
for Bihar a s s e m b l y
will be held a r o u n d t h e
I n d i a n A M C s , q u a l i f y i n g t h e eligibility c o n d i t i o n s p r e s c r i b e d in
the R F P , m a y submit their proposals latest by 0 5 : 0 0 P M o n
NOTICE
same time.
19th O c t o b e r , 2020. T h e R F P can be downloaded from the
A r o r a s a i d w h e n t h e EC
w e b s i t e of N S I C ( w w w . n s i c . c o . i n ) g ^
NOTICE is hereby given that the foil owing certificate (s) issued by the Company are stated

state, which has an estimated 7.29 crore assembly seats on e l e c t i o n s , A r o r a s a i d EC had decided on holding the
to have been lost or misplaced and Registered Holders thereof have applied for the issue
of duplicate certificate(s).
voters. The BJP said it is fully prepared for S e p t e m b e r 29 after going Secretary General U m e s h bypolls a l o n g w i t h Bihar
OSD, NVCFL
Tel.: 0 1 1 - 2 6 9 2 4 5 1 0 , E m a i l : o s d . n v c f l @ n s i c . c o . i n Sr. Folio No. Name/Joint Names Shares Certificate Nos. Distinctive Nos.
the elections and exuded confidence that t h r o u g h i n p u t s p r o v i d e d by S i n h a will issue a press e l e c t i o n s t h e n it h a d n o No. From - To From - To
it will form the government with a three- poll officials a n d c h i e f release of t h e schedule t h e inclination towards s o m e THE K A R U R V Y S Y A BANK LIMITED I 109399364 Anil Kumar Agrawal 54 58008805-805 1608992709-762
fourth majority, while Kumar and his party secretaries of t h e states s a m e evening based on the states s e n d i n g Registered & Central Office, No. 20, Erode Road 54 62267841-841 2190032768-821
also welcomed the election dates and said
K V B j Karur Vysya B a n k
c o n c e r n e d , Chief Election d e c i s i o n t a k e n a t t h e poll representations to raise Vadivel Nagar, L.N.S., Karur - 639002 108 66474532-532 6859168120-227
- Muuammiwmm
it was confident of a win. The RJD, on the Commissioner Sunil Arora watchdog. issues related to t h e bypolls. [CIN No: L65110TN1916PLC001295] 2 24555437 Arvind Jain HO
HO
13069506-508
66742811-811
267305978-087
6883183000-109
other hand, asserted that people of the [e-Mail:kvb_sig@kvbmail.com][Website: www.kvb.co.in]
3 5241995 Asha Shrivastava 8 1153457-457 26933I64-I7I
state have made up their mind for a [Tel No: 04324-269441] [Fax No: 04324-225700]
V K Shrivastava 68 66758289-289 6884393991 -058
change of government. Modi himself for the state in recent weeks. affected areas, so that Covid-19 patients NOTICE
4 108452601 Ashok N Peche 63 58120309-309 1612171315-377

Political activities have already intensi- Announcing the poll schedule for the can vote in the last hour of the day. 5 107958749 Asit Kumar Das
63
45
62488597-597
57929117-117
2209801825-887
1606749224-268
fied in the state with all major parties having 243-member Bihar assembly, Chief "The world has changed significantly Pursuant to Bank's Internal Code of Conduct for Prevention of Insider Trading read
with Securities and Exchange Board of India (Prohibition of Insider Trading)
Sujata Das 45 62589835-835 2217415536-580
stepped up their efforts in the last few Election Commissioner Sunil Arora said since the last major election in our country, Regulations, 2015, and any amendments thereto, the Trading Window for dealing
6 51001125 Babubhai Patel 36 58321242-242 1619098702-737
months, despite the pandemic situation, voting will begin as usual at 7 am but the which was held for Delhi assembly, and in securities of the Bank shall remain closed from Thursday, October 01,2020 7 37844535 Bharati Singh
36
50
62334409-409
7889232-232
2195156274-309
153519604-653
while a number of projects have been period will be extended by one hour until the Covid-19 pandemic has forced a new till the declaration of financial results of the Bank for the quarter and half year Virendra Kumar Singh 10 10068826-826 181602965-974
announced by Prime Minister Narendra 6 pm, except in the Left Wing Extremism normal in every aspect of our life. ended September 3 0 , 2 0 2 0 and two days thereafter. During this period, no trading 12 I28I0I23-I23 257870607-618
shall be made in the Bank's securities by the Directors, Promoters and Promoters 8 35476776 Birbal Thapar 20 4581570-570 74840699-718
Group, Designated Persons, all Connected Persons and their Immediate Kamal Thapar 20 50836807-807 1163689544-563

Chennai police book Franklin, top execs for 'fraud'

40 66453932-932 6857638244-283
Relatives a s defined in the "Code of Conduct".
9 35575375 Dennis A Dias 20 4595898-898 75127259-278
The date of meeting of the Board to consider and take on record the un-audited 10 7645952-952 148340549-558
financial results of the Bank for the quarter and half year ended September 30, 10 12695989-989 257119619-628
2020 will be informed in due course. 3 14304168-170 331539423-425
43 53452668-669 1250809744-786
T E NARASIMHAN and Franklin Templeton MIL, Sanjay V Sapre, whole Accountability (CFMA) con- For further information/updates on this, the investors may visit the Bank's website 63 58381545-545 1621625185-247
Chennai, 25 September Trustee Services (FTTSPL) time member, FTAMIL, and firmed the development. www.kvb.co.in and Stock Exchange's website www.nseindia.com. 10 55489327 Dennis Angelo Dias 20 11374489-489 204746508-527
for an alleged criminal con- their directors Jayaram The EOW registered the For The Karur Vysya Bank Limited
20
63
50884272-272
58381571-571
1164638844-863
1621626221-283
The Economic Offences Wing spiracy to defraud 300,000 Subramaniam Iyer, Vivek FIR after investigating a com- P l a c e : Karur SRINIVASARAO M II 36247631 Gautam Shamna 10 7697777-777 148792859-868
(EOW) of the Chennai investors by causing wrongful Kudva, RV Subramaniam, and plaint filed by CFMA, the Date : 25.09.2020 COMPANY S E C R E T A R Y 20 20094259-259 76997139-158
Police has registered a first loss to them and unlawful Pradip P Shah, among others. investors' group, and a few 36 58331377-377 1619534721 -756

information report (FIR) gain to themselves. While EOW officials were others with EOW in Chennai T h e Slngaranl Collieries C o m p a n y l i m i t e d 12 1595318 Hans Dass Narang
66
I
62220I4I-I4I
542017-017
2186131228-293
16814300-300
against the beleaguered The FIR also named not available for comment, in May this year in the interest (A Government C o m p a n y ) 2 582086-086 16986505-506
Franklin Templeton Asset Santosh Das Kamath, MD and Manoj Sheth, president, of millions of aggrieved inves- Regd. Office: K O T H A G U D E M - 507101, Telangana.
16 863669-669 22030848-863
Management India (FTAMIL) chief investment officer, FTA- Chennai Financial Markets & tors of Franklin Templeton. Tenders have been published for the following Services / Material
31
50
1315355-355
66436912-912
40614287-317
6856I43733-782
Procurement through e-procurement platform. For details, please visit 13 75605234 Hemang Dinesh Jangla 25 16621193-193 465828745-769
https://tender.telangana.gov.ln - or - https://www.scclmlnes.com 25 55165387-387 1341477883-907
are much lower than per barrel operating demic trend. NIT/Enquiry No.- Description / Subject- Last dsts and time for Submission of bid(s) 25 62700770-770 2225460172-196
> FROM PAGE 1 expenditure, resulting in negative returns While India's economy continues to do E172000227- Installation of LAN on Rate contract Basis for3 Years.-13.10.2020-17:00 Hrs. 25 62791507-507 2230875191 -215
14
even at the current price. The average cost better than its peers at a similar level of E112000241- DRILLING, EXCAVATION, LOADING, TRANSPORTATION, DUMPING,
SPREADING & LEVELLING, ETC., OF 473.069 LBCM OF IN-SITU OB INCLUDING 28.42
9474269 Ismail Noormohmed
Maher 400 62650269-269 2221524877-276

A good Friday... of production of natural gas by ONGC was

around $ 3.6 per mmBtu during the last
income on 10-year weighted average real
GDP per capita, its performance on this
LBCM OF COAL, 1.841 LBCM OF TOP SOIL BENEATH THE EXTERNAL DUMP AREA AND
1.19 LBCM OF OB FOR NALLAH DIVERSION WITH CONVENTIONAL EQUIPMENT AT 15 51001117 Jyotsanaben Patel
600
20
66913855-855
10936183-183
6897574984-583
196027467-486

There is scepticism about the sustainabil- financial year, which means the company metric has weakened somewhat. Even RG OOP-Ill EXPANSION MINE (Phase-ll), RG-II AREA FOR A PERIOD OF 36 MONTHS. -
14.10.2020-15:00 Hrs.
20
40
50365204-204
62334408-408
1159572417-436
2195156234-273
ity of the rally. "The factors that were will only be earning about half its operat- prior to the onset of the pandemic, the
-GM(MP)
NIT No., Date - Name of the work - ECV- Last date & time for Submission of bids 16 40128875 Kesharimal PJain 20 4791641 -641 78916545-564
weighing on the market, such as the emer- ing cost if prices are revised to $1.8-$1.9 per economy had slowed measurably. CRP/CVUMNG/TN-45/2020-21,Dt.23.09.2020-Construction of shed of size 46x 10 m with 20 50I71366-366 1156477080-099
gence of a second wave of the pandemic unit. The new floor price is likely to be set The existing vulnerabilities, including pre-painted sheeted rooffbrCanteen at proposed newsite office of PKOC-2 extension 40 62442152-152 2206003949-988

and rising geopolitical tensions, may con- based on an international benchmark. a weakened financial sector, rigid labour at Manuguru Area, Bhadredri Kothagudem Dist. T . S - Rs. 67,50,853/- 08.10.2020-
4.30 P.M. -Chief (Civil) 17 70639343 Kirti Agarwal
80
30
67020772-772
52956736-737
6907032179-258
1242177430-459
tinue to influence it in the coming weeks," Industry experts indicate the floor pricing markets, and weak private investment, CW/KGM/e-20/2020-21, Dt.22.09.2020-Tenderfor Renovation to B type (Doctor's) quarters 5 59509059-059 396667830-834
said Thomas. may be set somewhere around $3 a unit. could hamper economic recovery. No.231 to 238 with RCC slab in place of Mangalore tiles at Main Hospital area, Kothagudem 25 59509060-060 396667805-829
Overseas investors remained net sellers "If a floor price is set, there will be a Corporate, Bhadradri Kothagudem District, Telangana State- Rs. 34,77,438/- 08.10.2020 -
4.00 P.M. -Chief (Civil)
60
120
62299957-957
66516949-949
2192342577-636
6862259856-975
despite the sharp rebound in stocks. On temporary relief for producers as prices
Friday, they sold shares worth more than are falling and the demand for natural gas Vodafone wins... M MR/CVL/E-MM/T-47/2020-21- M & R works to D-type quarters at llnd Zone Mandamarri
areafortheyear 2020-21, Mancherial district, Telangana State- Rs. 30,96,230/- 30.09.2020
-4.30P.M.
18 122926195 Minor Dharmesh
Babubahi Patel 36 57458954-954 1592659353-388
~2,000 crore, taking their six-day selling is going down internationally. There is The company said in a statement: -GM.MM
CW/STPP/E-17/T-22/2020-21 - "Construction of bin with CC walls and concreteflooringfor
36 62335445-445 2195235423-458

past the ~10,000-crore mark. excess natural gas in the market, with LNG "Vodafone confirms that the investment dumping of hazardous waste at STPP, Jaipur (V&M), Mancherial District, Telangana State."-
19 50142591 Nandkishore Aggarwala
Sat Parkash Aggarwala
40
40
10697286-286
53296130-131
I9I447695-734
1247665075-114
Experts said the strengthening of the prices also declining. I believe that they treaty tribunal found (the case) in Rs. 31,10,796/-. 01.10.2020 - 4.30 P.M. -Dy.GM (Civil)/STPP
80 62239510-510 2187918120-199
US dollar was weighing on foreign investor should give away with the formula and it Vodafone's favour. This was a unanimous CW/KGM/e-19/2020-21, Dt. 17.09.2020- TenderforConstruction of Substation room, civil
works for lift and providing partitions in Secondfloorat Head office Building at Kothagudem
20 63002071 Patel Babulal Ranchhod
sentiment. If the US stimulus comes should be a free market price, which will decision, including India's appointed arbi- Corporate, Bhadradri Kothagudem District, Telangana State- Rs. 30,76,773/- 03.10.2020 -
Das 20
20
11055548-548
50865634-634
198051216-235
1164266084-103
through, it will be a boost for the markets, ensure that producers will get better trator Mr Rodrigo Oreamuno. The tribunal 4.00 P.M. -Chief (Civil)
40 62343779-779 2195895252-291
they said. "All the foreign flows coming returns," said Ashu Sagar, secretary gen- held that any attempt by India to enforce YLD/CVL/eT-27/2020-21- Providing rock toe walls including deck drains around 30m deck
at pit-l, KOCP-II, Yellandu area - Rs. 25,81,854/-12.10.2020 - 4.30 P.M. - DGM (Civil) YLD 21 14033734 Pradeep Kumar Gupta 5 3355174-174 51129438-442
into India were connected to some stimu- eral of the Association of Oil and Gas the tax demand would be a violation of PR/2020-21/MP/CVL/47 4 5421485-485 88532521-524

lus package somewhere or the other. Operators. He added the current formula India's international law obligations." R.O.No: 939-PP/CL-AGENCY/ADVT/1/2020-21 4
10
6703501-502
10095424-424
139990429-432
181996744-753
Another stimulus package will enthuse the was defective as an energy short market The finance ministry said in a state- 4 12372377-377 255786525-528
markets, and some of it will trickle down (India) was following an energy excess ment the government would study the Head Office: Star House, C-5, G-Block, Bandra-Kurla 27 62294974-974 2191978488-514
to India. There are reports of a package by market as its base. award. A senior official, however, said, 9ffe afiys g f t o i ' Complex, Bandra (E), Mumbai - 400 051. 54 66509763-763 6861765306-359

the Indian government. But last time "Implementation of foreign tribunal award Bank of India B ^ J I / \
Itefatwnship Beyond Banking
Email: headoffice.shaFe@bankofindia.co.in
NOTICE
22 67960882 Pushpa Dias 25
25
16063654-654
51015534-534
401351270-294
1167635203-227
when they announced a package, it was decisions is governed by the Indian
not appreciated by the market. The market Consumer goods... Arbitration Act, and the government is not
Notice of the Extraordinary General Meeting (EGM) and E-Voting information
N O T I C E is hereby given that an Extra Ordinary General Meeting ( E G M ) of the
23 72994299 Pushpa Dias 30
30
16249288-289
53006490-491
405113965-994
1242923740-769
is hoping that this time, there will be a lotIn the last nine months, for instance, the obliged to accept the award." Shareholders of Bank of India will be held on Thursday, 22nd October, 2020 at
24 12381883 Rajiv Talwar 14
12
1324099-099
5385430-430
40735221-234
88100939-950
more of pumping money into the econ- value share of FMCG within e-commerce Finance ministry sources said the gov- 11.00 a.m. through Video Conference (VC) / Other Audio-Visual Means (OAVM) to
12 50762258-258 1162452175-186
omy," said U R Bhat, director, Dalton increased to 12 per cent, Nielsen said, ernment had defended its position in the transact the business a s set forth in the notice i.e. Election of one Director from 14 55091414-414 1338823444-457
Capital India. thanks to the steady shift of consumers arbitration panel, saying it had sovereign amongst the Shareholders of the Bank other than the Central Government. 25 27475663 Rima Singh 242 62358702-702 2197100968-209

Domestic institutions were net buyers online during the pandemic. But mobile right to tax capital gains on the transfer of The Head Office of the Bankshall be the deemed venue of the meeting. 26 56314521 Satya Devi Duggal 40
40
10695369-369
53295712-713
191410041 -080
1247656715-754
to the tune of ~2,000 crore on Friday. phones continued to contribute 48 per assets located in India and was well within 1. Those shareholders whose name appear on the Register of Shareholders /
Beneficial Owners a s furnished by N S D L / C D S L a s on the Specified Date i. e., on 27 9492151 ShaguftaYusuf Bhati 200 54791982-985 1327350420-619
All the 30 Sensex components ended cent, fashion 18 per cent, and appliances its right to take all measures to stop avoid- Friday, 18th September, 2020 shall be entitled to participate i.e., nominate,
400 62651220-220 2222055165-564
in the green, with Bajaj Finserv gaining the and electronics 17 per cent to e-commerce ance of taxes through indirect transfers via contest and vote in the election of Directors from amongst Shareholders other
600 66914477-477 6898074922-521

most, at 6.9 per cent, followed by HCL sales, it said. tax havens. than the Central Government.
28 83457244 Shah Bharatkumar
Chimanlal 27 52320274-275 1218230091 -117
Technologies and Bharti Airtel, rising 5 per "Our recent survey among CXOs shows They said Parliament rightly clarified 2. Individual notices have been sent to shareholders of the Bank whose names Shah Rohitkumar
cent each. The market breadth was posi- that most of them are now focussed on e- its intent through an amendment in the have appeared in the register of shareholders of the Bank a s on the specified date Chimanlal 27 52320358-359 1218231225-251

tive, with 1,972 stocks advancing and 682
stocks declining.
commerce than they were before the pan- Income-Tax Act and therefore such meas- by email through C D S L . T h e soft copy of the notice is also available for download 20
20
59476023-023
59476023-023
89615233-252
89619477-496
demic. And many are paying attention to ures could not be opposed by simply label- on the websites ofwww.bseindia.com; www.nseindia.com;www.bankofindia.co.in
and www.evotingindia.com. T h e notice along with formats of Declaration Form, 94 62327556-556 2194523045-138
last-mile delivery," said Shukla. ling it as a retrospective amendment. The Nomination Form and Personal Declaration and Undertaking is also available at
29 742872 Shroff Parimal Kantilal I 186511-511 12058974-974

Govt plans floor price... he Traditional and modern trade owners, question is, should the government have 16 846643-643 21472379-394
the website of the Bank viz. www.bankofindia.co.in.
14 2110893-893 41967559-572
said, were optimising shelf space to allowed such loopholes to continue, asked 3. Shareholders (other than the Central Government) who are desirous of 5 3044201-201 49019663-667
For April-September 2020, the domestic improve sales. the sources. The answer is obviously no. contesting the election of one Director of the Bank should submit a minimum of 100 14 4818252-252 79404209-222
natural gas price was set at $2.39 per mil- "It (the government) is duty-bound to take valid nomination forms alongwith the declarations/ bio data and other related 13 6274121 -121 132475575-587

lion metric British thermal unit (mmBtu), all steps to protect public money and documents in a sealed envelope to the Company Secretary, Bank of India, Head 14 10404472-472 186413672-685

which is expected to be $1.8-$1.9 mmBtu S&P affirms... exchequer, and if there is any attempt to Office, Star House, C-5, G Block, Bandra Kurla Complex, Bandra East, Mumbai-
400 051 on any working day, upto 5.00 p.m., on or before Thursday, the 8th 30 9622713 Sumantbhai Dayalbhai
77 51457837-839 1179189590-666

during the October 1-March 31 period of The economy will remain a long-term out- avoid the taxes by routing the transaction October, 2020.
Patel 200 5733118-118 110060409-608
FY21. "Based on the current formula, performer against peers with a similar through a tax haven like Cayman Island, 4. Bank will under take scrutiny of nominations on 9th October 2020. In case only
Ashp Sumant Patel 50 7969716-716 158943963-012

prices were going down. Hence, there was level of income. The Bharatiya Janata it was entitled to take all measures, includ- one candidate is found to be Fit & Proper by Nomination and Remuneration
31 35595414 Surjit Kaur 40
40
4598700-701
53278976-977
75183299-338
1247321995-034
demand coming from producers, espe- Party-led government maintains strong ing amendments to law, to stop such Committee ( N R C ) of the Board in terms of RBI Notification and applicable 160 66407888-888 6853302373-532
cially ONGC, to give a support price or support from the electorate and may seek abuse," said a source. Government of India Guidelines, he/she shall be deemed to have been elected 32 52222184 Usha Gupta 40 10666767-767 190803059-098
basic floor price, as prices are expected to to capitalise on this by accelerating eco- Vodafone has not paid the department with effect from 25th October 2020 and in that event the E G M will not be conducted. Pankaj Gupta
Kewal Krishan Gupta
40
80
53287546-547
62226299-299
1247493395434
2186713860-939
go further down in the upcoming cycle," nomic reforms. anything and hence the question of refund 5. In the event of more than one Candidates being determined a s Fit & Proper by
160 66422274-274 6854770430-589
said the official. India's democratic institutions pro- does not arise. But write-off is also ruled N R C then election will be conducted at the E G M . The Bank has, in terms of
Regulation 44 of the S E B I - L O D R Regulations, provided remote e-voting facility to
33 106645721 Vinod Kumar Srivastava 18 61898385-385 2I8II80I3I-I48
Under the current norms, the price of mote policy stability and compromise, and out and tax demand raised against the tele- the shareholders at www.evotingindia.com for the agenda to be transacted in the
Kumud Bala 36 66507320-320 6861595346-381

domestic gas is linked to a formula that is also underpin the ratings, S&P said. com major will remain, an official said. E G M , from 10.00 A.M. on Monday 19th October2020 to 5.00 P.M. on Wednesday
Total 6326
indexed to the weighted average of global India's worsening Covid-19 situation, Together with the cost imposed on India 21st0ctober2020 The Public is hereby warned against purchasing or dealing with these securities any way.
benchmarks like Henry Hub, Alberta gas, along with strict measures aimed at con- by arbitration, this will be around ~85 crore 6. In case of any queries, contact E-Voting Team of C D S L at 18002005533 or
Any person(s) who has I have any claim in regard of the securities, should lodge such claim
with the Company's Registrar and Transfer Agents viz. "KFin Technologies Private
NBP, and Russian gas. The price is fixed taining the spread of the pandemic, has only, the official said. helpdesk.evoting@cdslindia.com
Limited", SeleniumTower B.PIot No. 31 -32,Gachibowli, Financial District, Nanakramguda,
for six months based on the formula pric- hit the economy hard. Productive capacity Sources said the government might 7. T h e shareholders, who have not voted through the remote e-voting, are Hyderabad - 500 032, within Seven (7) days from the date of publication of this notice,
ing of the preceding six months. Besides, has been severely disrupted since the start have to refund ~45 crore only if it does not permitted to vote during E G M . Please note that once the shareholder has casted
his/her vote through E-voting, he/she cannot modify the vote during the E G M .
failing which, the Company will proceed to issue duplicate certificate^) in respect of the
aforesaid securities.
the government through the PPAC also of the pandemic. There may be a perma- go for appeal against the award. 8. The consolidated results of remote e-voting together with the voting held at the for Reliance Industries Limited
notifies a cap price for difficult fields. nent loss of approximately 13 per cent of E G M will be announced by the Bank on its website and will also inform to the stock Sd /-
For producers like ONGC, gas prices output compared with India's pre-pan- More on business-standard.com exchanges a s well a s C D S L . For B A N K 0 F ,ND|A
Place : Mumbai
Date : 25th September, 2020
Savithri Parekh
Joint Company Secretary and Compliance Officer
Place: Mumbai A K Das
II I I II I I II I I II I I Date: 18.09.2020 Managing Director & CEO www.ril.com
14 NEW DELHI | 26 SEPTEMBER 2020 Business Stai
UCO BANK, N.E.I. Branch, Khatipura Road,
Government of India TJeFt ^ g j t f f t ) U C O B A N K
NTPC Limited
HRT I j d l j / Jaipur-302006, Tel. No. 0 1 4 1 - 2 2 2 2 3 2 2 , 2 2 2 0 1 3 0
/ Ministry of Shipping Fax: 0141-2220852, E.: khatip@ucobank.co.in
(tnwwteKteonjRfl (A Govt, of Indls Undertaking)
i k r iljogu
APPENDIX IV [See Rule 8(1)] POSSESSION NOTICE
v b MCo^Vf Vj»llX / (IWT Section) (A Govt, of India Enterprise) Whereas, The undersigned being the Authorised Officer of the UC0 BANK, under the
iljogu HOU / Transport B h a w a n INVITATION FOR BIDS (IFB) DOMESTIC COMPETITIVE BIDDING Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 and in exercise of powers conferred under section 13 read with Rule 3 of the
Anchal Dabawgrast Asith Recovery Branch Bank of Baroda Bhawan,
1 l l n eixf / 1, Parliament Street IFB/NIT Number40088262 Date: 23.09.2020 Security Interest (Enforcement) Rules 2002, issued a Demand Notice dated 15/D7/2020 Parliament Street, New Delhi-110001 Ph: 011-23441319
u b mYSlh - 110001 / New Delhi-110001 Bidding Document no.: CS-0011 -112A(1 )-9 calling upon the Borrowers/Guarantor/Mortgagor Mr. Mohan Lai Tondwal S/o Sh. Lai Letter No.: BOB/ZOSARB/1765 25.09.2020
Name of Package/Work: Procurement of Biomass Pellet for various Thermal Chand Tondwal, Smt. Madhu Devi Tondwal W/o S h . Mohan Tondwal & S h . Himanshu
Tondwal S/o Sh. Mohan Lai Tondwal to repay the amount mentioned in the notice is being M/s Radikal Foods Ltd M/s Radikal Foods Ltd
Dated the 14th September, 2020 Plants of NTPC (17 Projects)
Rs. 44,87,648.00 (in words Rupees Forty Four Lakh Eighty Seven thousand Six Hundred Registered address: B-1 ground floor saket Business address: 28 radikal house
Type of Bidding: E-tendering / Single Stage Two Envelope
Forty Eight only) as on 30.06.2020 (inclusive of interest up to 30.06.2020) with further delhi 110017 communitycentresaket newdelhi 110017
Filling up of o n e post of M e m b e r (Technical) in Inland W a t e r w a y s Bidding Document Sale: From 28.09.2020 to 05.10.2020 upto 17.00 hrs
interest and incidental expenses until payment in full, within 60 days from the date of MrSenikRewani MrMangtuRam
Authority of India (IWAI) Noida U.P. (an A u t o n o m o u s Body under the Receipt of Techno-Commercial Bids: 19.10.2020 upto 1500 hrs. notice/date of receipt of the said notice. The borrower/mortgagor having failed to repay the
Ministry of Shipping), on deputation basis. Date and Time of Opening of Techno-Commercial Bids: 19.10.2020 at 1530 hrs amount, notice is hereby given to the borrowers/mortgagor and the public in general that the Village Haiaikuruwa Post Office - Galgaltand Jahadoo Alwar, Rajasthan, Rajasthan,
Date and Time of Opening of Price Bids: Shall be intimated separately undersigned has taken possession of the property described herein below in exercise of Thana Chandankiyari, Bokara, Jharkhand, 301035, India
Applications are invited for filling up one post of M e m b e r (Technical) o Contact Details: DGM (CS) / Sr. Manager (CS), NTPC Limited, Noida powers conferred on him/her under Section 13(4) of the said Act read with Rule 8 of the said 828134, India
in the L e v e l - 1 4 (in the pre-revised Pay B a n d - 4 (Rs. 3 7 , 4 0 0 Rs. § Tel: 0120-4946619/4946684, Email: itisur@ntpc.co.in/ Rules on this 22 day of September of the year 2020. "The borrower's attention is invited to MrShimbhuLal Mr Chandra Prakash Chaudhary
gj tapaskumarmazumdar@ntpc.co.in. Website: www.ntpctender.com provisions of sub-section (8) of section 13 of the Act, in respect of time available, to redeem
67,000) + Grade P a y o f R s . 10,000/-) by transfer on deputation basis W-22/c-6a,kh No 595/707 Main Western D-119 Ground Floor Saket New Delhi
g Registered Office: NTPC Bhawan, SCOPE Complex, 7, Institutional Area, Lodhi the secured assets". The Borrower/Mortgagor in particular and the public in general is hereby
for a period of 3 years w h i c h c a n be e x t e n d e d up to 5 years. For N cautioned not to deal with the property and any dealings with the property will be subject to Avenue Sainik Farm, Khanpur, South Delhi, 110017
Road, New Delhi-110003, CIN: L4Q101DL1975GOI007966
complete vacancy circular and format of application form, please visit the charge of the U C 0 BANK for an amount of R s . 44,87,640/- a s on 3 0 . 0 6 . 2 0 2 0 and the Delhi, 110062, India
Leading the Power Sector interest & expenses thereon until payment in full. MrSiddharth Chaudhary Mrs Anju Chaudhary
Ministry of Shipping Website: www.shipmin.gov.in
D-119 Ground Floor Saket New Delhi, D-119 Ground Floor Saket New Delhi
Last Date o f receipt o f applications: 4 5 days f r o m the date o f All that part & parcel of the residential property consisting of structure, erections, 110017 110017
publication of this advertisement. installations, etc. situatad at Plot No. 17, (South Part) Laxmi Narayan Vihar, Village- M/s Radikal International Pvt Ltd
G a n p a t p u r a , New S a n g a n e r R o a d , J a i p u r , R a j a s t h a n . A s per S a l e D e e d No.
davp 37201/11/0006/2021 M/s Shreedhar Estates Pvt Ltd B-1 First Floor, Saket-110017, Delhi
201801016001684 datBd 01.02.2018 Registered in the name ol Mohan Lai Tondwal with Sub
Registrar office SanganeMI, Jaipur. Admeasuring 280.83 Sq. yards Bounded by:- On the B-1 First Floor, Saket -110017, Delhi M/s Tlrumala Vanijaya Pvt Ltd
North by: Plot No. 17, On the South by: Plot No. 18 On the East by: Road 40ft On the Wast by: M/s Kundan Commercial Pvt ltd B-1 First Floor Saket South Delhi
Plot No. 48 . 2210312m, Place: Jaipur Authorised Officer, U C O B a n k B-1 First Floor, Saket -110017 Delhi Dl 110017 IN

(§)DISHA
Date

THE ODISHA MINING CORPORATION LIMITED n u n Dear Sir,

OMC House, Bhubaneswar-751001, Odisha U R | ftj OFFICE OF THE R E C O V E R Y OFFICER -1 Re: Show Cause Notice for declaring M/s Radikal Foods Ltd, its Directors and
Guarantors, Mr Senik Rewani, Mr Mangtu Ram, Mr. Shimbhu Lai, Mr Chandra
CIN: U1310OOR1956SGC000313, www.omcltd.in NEW OPPORTUNITIES DEBTS R E C O V E R Y TRIBUNAL-MI, DELHI
4th FloorJeevan Tara Building Parliament Street New Delhi -110001.
Prakash Chaudhary, MrSiddharth Chaudhary, Mrs Anju Chaudhary, M/s Shreedhar
Estates Pvt Ltd, M/s Radikal International Pvt Ltd, M/s Kundan Commercial Pvt Ltd
R.C.No.313/2017 Dated: 14.09.2020 and M/s Tirumala Vanijaya Pvt Ltd (mentioned as above) as Wilful Defaulters and
RfP No: 01/OMC/Finance/2020 Dated. 25/09/2020 ARCIL VS ASTHA INTERNATIONAL Opportunity for Representation there against.
E-AUCTION SALE NOTICE
REQUEST FOR PROPOSAL (RfP) "ORDER"
We refer to your captioned account and write to inform you that due to non-payment of
interest/installment, account turned to Non-Performing Asset in the books of the Bank on
SELECTION OF CHARTERED ACCOUNTANTS/COST ACCOUNTANTS FIRMS As per my order dated 14.09.2020, the under mentioned property will be sold by public e-auction sale in the matter of Arcil VsAstha International.
The Auction sale will be through "online e-auction" through website: http://drt.auctiontiger.ner
29.06.2015.
FOR CONDUCTING INTERNAL AUDIT Date a n d T i m e of A u c t i o n : 27.10.2020 between 03.00 PM to 04.00 PM (with auto extension clause in case of bid in last 5 minutes before closing, We further write to inform you that as per the directions of the Committee of Executives on
Wilful Defaulters of our Bank and on scrutiny of your account based on your acts of
Sealed Request for Proposal (RfP) are invited from experienced Chartered Accountants/ omission and commission, deeds/ documents and writings, performed/executed by the
Sr. Description of Properties Reserve Price Earnest Money
Company/bomower/guarentors, the Company and its Director I Guarantors be classified
Cost Accountants Firms for conducting Internal Audit at Odisha Mining Corporation No. Deposit (EMD)
as Wilful defaulter as per guidelines of RBI on the following grounds mentioned by
1. Property Bearing No. 15, Block B, Pocket-2, Sector-17, Rs. 33,75,000/- Rs. 3,37,500/- Forensic Auditor M/s PVRN & Co by its report dated 10.08.2019:
Limited, Bhubaneswar for a period of three years starting Financial Year 2020-21 Category LIG on First Floor, situated at Rohini, Delhi -110085. (Rupees Thirty Three Lacs (Rupees Three Lacs Thirty Seven 1. There was an issue of Share capital I Share premium of Rs 212.92 crores during the
subject to selection and tenure of assignment as mentioned in the RfP. Seventy Five Thousand Only) Thousand Five Hundred Only) period of review. On review of financial statements by Forensic Auditors of entities who
invested in Share Capital erf RFL downloaded from MCA website, it was observed that there
The detailed RfP, terms & conditions, cost of RfP document, EMD/SD, etc. is available TERMS AND CONDITIONS
was no major business transaction in many of these companies. These companies further
1. Auction/bidding shall only be through online electronic mode through the website.
in our website i.e. www.omcltd.in with effect from 25.09.2020. Interested experienced received funds from other entities to invest in RFL. It is highly improbable for a non -related
2. The intending bidders should register the participation with the service provide well in advance and get user ID and password for participating company to provide loan to a company with no major business transaction. With respect to
Chartered Accountants/Cost Accountants Firms are requested to download the tender in E-auction. It can be procured only when the requisite earnest money deposit be paid by prescribed mode.
one of the entity, M/s Kundan Commercial Private Limited, it was observed that M/s
3. EMD shall be deposited by 23.10.2020 (as 24.10.2020 is fourth Saturday and 25.10.2020 is Sunday) by way of DD/pay order in favour
Kundan Commercial Private Limited received unsecured loans from corporate entities of
schedule from the website. There will be no manual sale of RfP document. Recovery Officer, DRT-III, Delhi to be deposited with Recovery Officer-I, DRT-II, Delhi in the sealed cover before 4:00 PM. EMD
Rs. 28.32 crores in FY 2012-13 which were further invested in the Shares of Radikal Foods
deposited thereafter shall not be considered for participation in the e-auction,
The RfP document is available for download from 26.09.2020. 4. The copy of PAN card, Address proof and identity proof, E-mail ID, Mobile No. and declaration if they are bidding on their own behalf or on
Limited. Out of Rs. 28.32 crates, Kundan Commercial Private Limited received Rs. 9.00
crores from Parton Vanijya Pvt. Ltd. and Rs. 5.65 crores from Liberal Tradecom Pvt. Ltd.
The last date for receipt of the Bid/Tender is 12.10.2020 up to 3.00 PM which behalf of theirprincipals. In the lattercase, they shall be required to deposittheirauthority, and in de^iulttheirbids shall be rejected. In case of
2. Further on review of Financial Statements of M/s Liberal Tradecom Private Limited
the company copy of resolution passed by the board members of the company or any other document confirming representation I attorney of
shall be opened on 12.10.2020 at 3.30 PM. the company and the receipt / counterfileof such deposit should reach to the said service provider or CH Bank by e-mail or otheiwise by the downloaded from MCA website, it was observed that it received funds in the form of
said date and hard copy shall be submitted before the Recoveiy Officer-I, DRT-III, Delhi. investment in Share capital tram M/s Belong Vintrade Private limited and M/s Lemon
OMC reserves the right to accept/reject all or any part of the Tender without assigning 5. Prospective bidder may avail online training from service provider e-auction and bidding shall take place through "Online Electronic Tracom Private Limited. On review of Financial Statements of M/s Parton Banijya Private
Bidding" through website: http://drt.auctiontiqer.net through service provider e-auction and bidding shall take place through On line Limited downloaded from MCA website, it was observed that it received funds in the term
any reason thereof and without incurring any liability thereon. Electronic Bidding" through website : http://drt.auctiontiqer.net through service provider M/s of investment in Share capital tram M/s Belong Trading Private limited and M/s Desire
e-Procursmsnt Technologies Ltd. (ABC Procure) A-201/208, Wall Street -II, Opp, Orient Club Near Gujarat College, Ellis Bridge, Vanijya Private Limited.
Sd/- 25/09/2020 Ahmedabad-380006 Gujarat (India) Tel: +91 07961200594/598/538. In case of any query, Contact Mr. Nitish Jha Mobile No. 3. However, on review of Financial Statements downloaded from MCA website of all the
Chief General Manager (Finance) above 4 stated companies, i.e, M/s Belong Vintrade Private limited, M/s Lemon Tracom
6. For further details contact: Sh. Arvind Kumar Jha, Officer of CH Bank, having mobile no. 7291992213 Land line: 011-46370408 Email: Private Limited, M/s Belong Trading Private limited and M/s Desire Vanijya Private Limited,
arvind .jha@arcil.co.in. it was observed that these companies had not made any investments in any companies.
7. Prospective bidder are advised to go though the website http://drt.auctiontiger.net for details terms & conditions of sale before submitting 4. The director of Belong Vintrade Pvt. Ltd., Lemon Tracom Pvt. Ltd., Desire Vanijya Pvt.
their bids. Ltd. and Belong Trading Pvt. Ltd. is Mr. Jagmal Singh who is also the director in Radikal
g f c TATA CAPITAL HOUSING FINANCE LTD. 8. The propertyshall notbesold belowthe reserve price. International Pvt. Ltd. a related party of borrower (based on common directors) as
™ I™ Regd. Address: 11th Floor, Tower A, Penlnsulaa Business Park, Ganpatrao Kadam Marg, 9. The bidder shall improve offer in multiple of Rs. 50,000/- disclosed in Audited Financial Statements.
TATA Lower Pare!, Mumbal - 400013. Branch Address: 0-36,1st & 2nd Floor, La|pat Nagar 10. The propertyshall be sold "As Is Where Is Basis and As is What is Basis" 5. Hence, all these companies were indirectly being managed by the borrower and may
Part-2,Delhi-110024 11. The successful bidder shall have to pay 25% of the sale proceeds after adjustment of EMD on being knocked down by next day i.e. by 3:00 diverted the funds.
S A L E NOTICE F O R S A L E O F I M M O V A B L E P R O P E R T Y P.M. in the said account as per detail mentioned in para3above. If the nextday is Holiday or Sunday, then on next first officer day. 6. As per Audited Financial Statement of FY 2015-16, company sold the inventory in loss
(Under Rule 9(1) of the Security Interest (Enforcement) Rules 2002) 12. The successful highest bidder shall deposit the balance 75% of final bid amount on or before 15th day from the date of sale of the property. due to this grass profit margin which was 17.53% in FY 2014-15 was reduced to -58.43% in
E-Auction Sale Notice for Sale of Immovable A s s e t s under the Securitisation and Reconstruction of If the 15th day is Sunday or other Holiday, then on the first bank working day after the 15" day by prescribed mode as stated in above para. FY 2015-16after the account was classified as NPA. Hence, it appears that the inventory
Financial A s s e t s and Enforcement of Security Interest Act, 2002 In addition to the above the purchaser shall also deposit poundage fee with Recovery Officer-I, DRT-III @2% upto Rs.1,000/- and @1 % of sold by the company during the financial yearwere not in arm length price as compared to
read with proviso to Rule 9 (1) of the Security Interest (Enforcement) Rules, 2002 the excess of said amount of Rs.1,000/-through DDinfavourof Registrar, DRT-III, Delhi, within the period of15days as stated above. previous yeara. (As no information has been provided to them by the Company, they are
Notice is hereby given to the public in general and in particular to the below Borrower/ Co- Borrower that the below 13. In caseofdefaultofpaymentwithintheprescribed period, thedeposit, afterdefrayingtheexpensesofthesale, may, if the undersigned thinks not able to verify inflated turnover I fictitious sales and/or Sales on Return (SOR) basis
described immovable property mortgaged to Tata Capital Housing Finance Ltd. (Secured Creditor), the Physical fit, be forfeited to the Government and the defaulting purchaser shall forfeit all claims to the property or the amount deposited. The property where profit has been booked and sales returned in the subsequent accounting period
shall be resold, after the issue of fresh proclamation of sale. Further the purchaser shall also be liable to make good of any shortfall or
Possession of which has been taken by the Authorised Officer of Tata Capital Housing Finance Ltd. (Secured leading to writing off of stocks/debtors and reversal of booked profits.)
Creditor), will be sold on 14-0ct-2020 " A s is where is" & " A s is what is" and "Whatever there i s " for recovery of difference between his final bid amount and the price for which it is subsequently sold.
below mentioned total sum from Borrowers) & Co- Borrawer(s). The Reserve Price and the Earnest Money Deposit 14. The Recovery Officer has the absoluterightto accept or reject any bid or bids or to postpone or cancel the e-auction without assigning any 7. On verification of Bank Statements of Consortium Lenders, borrower had made
is mentioned below. transactions of substantial amount with parties who might be related and not disclosed in
Whereas the sale of secured asset is to be made to recover the secured debt and whereas there was a due of a sum 15. Unsuccessful bidder/s are directed to file an application along with identity proof in the Registry of DRT-III on or before the schedule date of the Audited Financial Statement. The details of regarding such transaction ate mentioned
including all costs, interest etc. as on date. Notice is hereby given that, in the absence of any postponement/ hearing of the RC for refund of their EMD which shall be refunded on the schedule/subsequentdate of hearing of the RC accordingly. in main report(Bank Wise)
discontinuance of the sale, the said property shall be sold by E-Auction at 2 P.M. on the said 14-0ctober-2020 at B - 16. There is no detail of revenue/encumbrance or other claim against the properties in the knowledge of undersigned at this stage. However, 8. The borrower also repaid the unsecured loan of earlier years and Share Application
3 6 , 1 s t & 2nd Floor, Lajpat Nagar Part-2, Delhi-110024. The sealed E-Auction for the purchase of the property prospective bidders are advised to make their own due diligence w.r.t dues of electricity/water/house tax bills or any other encumbrance etc., money amounting to Rs. 13.50 crores and Rs. 7.00 crores respectively, received tram
along with EMD Demand Draft shall be received by the Authorized Officer of the TATA CAPITAL HOUSING FINANCE in theirown interest, before deposit of EMD. Nilay Nimnan Pvt. Ltd. Further, as per information and narrations available with them, the
LTD till 5 P.M. on 13-0ctober-2020 .The sale of the property will be in "as is where is condition" and the liabilities and 17. CH Bank to publish the e-auction notice in English as well Vernacular language in the news papers widely circulates in the area / having Company repaid unsecured loans taken from related parties even prior to repayment of
claims attaching to the said property, sofaras they have been ascertained, are specified sufficient circulation in the locality where the property situate and CDs reside or workforgain. C.H. Bank may also give wide publicity byway of facilities obtained from various banks .(pg no-122)
Loan Name of the Amount A s per Type of Reserve Price circulating Pamphlets and Beat of Drum ete. till the date of auction and submita report to this Tribunal. 9. Due to non-availability of Books of accounts, Forensic auditor compared Stock
Account No. Borrower and Co- Borrower Demand Notice Possession 18. The counsel for CH bank is directed to authenticate the veracity of the paras hereinabove. Statements with Audited Balance Sheets for year end. They were made available Stock
Earnest Money
19. Matterbe listedlbrfiling affidavitof service of sale proclamation and fbrfurtherproceedingson 01.10.2020. Statement as on 25.03.2015. When they compared Stock Statement as on 25.03.2015 vs
9703549 & Mr. Dhananjay Tiwari (Borrower) & Rs. 17,23,871/- Physical Rs. 8,00,000/- DASTI. (Sandeep Handa)
9716560 Mrs. Sima Tiwari (Co-Borrower) ason Audited Financial Statement as on 31.03.2015, it appears that overstated Stock
28-June-2017 Rs. 80,000/- Recovery Officer-I, DRT-III, Delhi Statements were being submitted by the Company to the Bank.
Descrlptlon of Secured A s s e t s : All That Piece and Parcel of DDA Built up Janta Flat Bearing No. 84, on the top 10. Fraudulent transactions under Insolvency Resolution Process for Corporate Persons
Floor, situated at Pocket-7, Phase-1, Category- B.Nasirpur, Dwarka, New Delhi, with the freehold rights of the land Regulations 2016-0n the basis of limited information available with them, they hereby

Indian Bank state as under:-

underthe said Property,having plinth area of25 Sq. Mtr. approx. i.e. 269 Sq. Ft. constructed area

2. 9882493 & Mr. Arun Ku. Lakhotia as Borrower & Rs. 68,79,584/- Physical Rs. 67,00,000/-
9884671 Mrs. Suman Lakhotia as on
Rs. 6,70,000/-
30-Sept- 2019
Description of Secured A s s e t s : Item No.1-AII That Residential Built up First Floor (Northern Western Side) without
Roof rights of Portion of Property No.45-A, in area Measuring 70 Sq. Yards.(i.e.58.52 Sq. Mtr.) Out Of Khasra No. 569
MIN, With Common Rights to use Entrance gate and Staircase, Common one parking space on ground Floor with the
freehold proportionate rights of the land underthe said property, Situated at area of Village Nawada and the Colony
Known as Mohan Garden, Uttam Nagar, New Delhi-110059. With common amenities written in the Sale Deed.
Item No. 2- All That Residential Built up First Floor (Southern Western Side) without Roof rights of Portion of Property
No.45-A, in area Measuring 92.60 Sq. Yards.(i.e.77.42Sq. Mtr.) Out Of Khasra No. 569 MIN, With Common Rights to
use Entrance gate and Staircase, Common one parking space on ground Floor with the freehold proportionate rights
of the land under the said property, Situated at area of Vllage Nawada and the Colony Known as Mohan Garden,
Uttam Nagar, New Delhi-110059. With common amenities written in the Sale Deed.
The description of the Secured asset/ property that will be put upforsale is as per above Schedule. The E auction will
be stopped if, amount due as aforesaid, with interest and costs (including the cost of the sale) are tendered to the
'Authorized Officer1 or proof is given to his satisfaction that the amount of such secured debt, interest and costs has
been paid before the date of the auction.
No officer or other person, having any duty to perform in connection with this sale shall, however, directly or indirectly
bidfor,acquire or attempt to acquire any interest in the property sold. The sale shall be subject to the conditions
• They were made available Stock Statement as on 25.03.2015. When they compared Stock
Statement as on 25.03.2015 vs Audited Financial Statement as on 31.03.2015, it appears
that overstated Stock Statements were being submitted by the Company to the Bank.
ALLAHABAD • Investments have been made in Share capital of Radikal Foods Limited (Borrower) by
companies which had no major business transactions and were directly I indirectly related
with the borrower.
Corporate Office : 254-260, Avvai Shanmugam Salai, Royapettah, Chennai 600014 • Transactions have taken place in banks outside consortium; however, no approval was
Branch: Anandlok Branch, 1 DDA Market, Uday Park, New Delhi-110049, Phone No 011-41099477, 41099462
given by consortium members for the same.
11. The company was having average net profit of 17% during preceding 3 years.
APPENDIX - IV {Rule-8(1)} POSSESSION NOTICE (for immovable property)
However, after the account was classified as NPA, the company booked a loss of 58% as
stated above. Hence, it appears that stock was inflated and was sold off at loss after the
Where as, The undersigned being the authorized officer of Indian Bank under the Securitization and Reconstruction of account was classified as NPAfalling underthe definition of fraud. Further, the realization
Financial Assets and Enforcement of Security Interest Act 2002 and in exercise of powers conferred under section 13 (12) for sale of goods was made in banks outside consortium amounting to diversion of funds.
12. Borrower received unsecured loan in FY 2012-13 of Rs.7.00 crores from Kundan
read with rule 8 & 9 of the Security Interest (Enforcement) Rules, 2002 issued a demand notice dated 01.07.2020 calling Commercial Private Limited and from Tirumala Vanijya Private Limited of Rs.15.00 crores.
upon the borrower M/S S.R Agency ( Proprietor - Sh.Pritpal Singh) (A/C No: 50231869500) having its Registered These unsecured loans were settled through allotment of shares of Radikal Foods Limited
Office at E-9, Hauz Khas, Delhi-110016 with our Anandlok Branch to repay the amount mentioned in the notice being in FY 2013-14. Further borrower also repaid the unsecured loan of earlier years and Share
Application money amountingtoRs.13.50 crores and Rs.7.00 crores respectively,
Rs.1,75,55,148.00 (Rupees one crore seventy five lacs fifty five thousand one hundred and forty eight only) PLUS

received from Nilay Nirman Pvt. Ltd.

prescribed in the Security Interest (Enforcement) Rules, 2002 and to the following furtherconditions:
The E-auction will take place through portal https://DisposalHub.com on 14-0ct-2020 (Auction Date) between 2.00
PM to 3.00 PM with limited extension of 10 minutes each.
uncharged interest from 01.07.2020 till its realization within 60 days from the date of receipt of the said notice. In terms of RBI guidelines and to comply principles of natural justice, if you, desire, you
Terms and Condition: 1. The particulars specified in the Schedule herein below have been stated to the best of the The Borrower's attention is invited to the provisions of section 13(8) of the Securitisation and Reconstruction of Financial may send your submission for consideration by the Committee of Executives, headed by
our Executive Diractorwithin -15- days from the date of receipt of this letter as to why your
information of the undersigned, but the undersigned shall not be answerable forany error, misstatement or omission
Assets & Enforcement of Security Interest Act, 2002, in respect of the time available, to redeem the secured assets. accountand you be not classified by Bankasa Wilful Defaulteras per RBI guidelines. The
The borrower having failed to repay the amount, notice is hereby given to the borrower in particular and the public in general
in this proclamation. In the event of any dispute arising as to the amount bid, or as to the bidder, the lot shall at once
again be put up to auction subject to the discretion of Secured Creditor. 2. The property shall not be sold below the Committee reserves the right to give or not to give the personal hearing to decide about
Reserve Price. 3. Bid Increment Amount will be: Rs. 10,000/- (Ten Thousand Only) 4. All the Bids submitted for the
that the undersigned has taken possession of the property described herein below in exercise of powers conferred on him/her classifying as wilful defaulter in case your submission is received.
Please note that, in case your submission against the intention of Bank to declare you as a
purchase of the property shall be accompanied by Earnest Money as mentioned above by way of a Demand Draft
favoring the TATA CAPITAL HOUSING FINANCE LTD." payable Delhi. Address: Office B-36,1st and 2nd Floor, under Section 13(4) of the said Act read with rule 8 & 9 of the said rules, on this 23rd day of September of the year 2020. Wilful Defaulter is not received within -15- days from the date of receipt of this letter, the
Lajpat nagar- Part-2,New Delhi- 110024. The Demand Drafts will be returned to the unsuccessful bidders after The borrower in particular and the public in general is hereby cautioned not to deal with the below mentioned property Bank will proceed further and classify your account as wilful defaulter. Bank reserves the
auction. 5. The highest bidder shall be declared as successful bidder provided always that he/she is legally qualified
to bid and provided further that the bid amount is not less than the reserve price. It shall be in the discretion of the and any dealings with the property will be subject to the charge of the Indian Bank erstwhile Allahabad Bank for an Right to publish the name and photograph ofWilful Defaulter in News Paper and will initiate
the necessary recovery action as per extant guidelines issued by Reserve Bank of India.
'Authorized Officer" to decline acceptance of the highest bid when the price offered appears so clearly inadequate as amount of Rs.1,75,55,148.00 (Rupees one crore seventy five lacs fifty five thousand one hundred and forty eight only) This communication is issued as per the directions of the Committee of Executives on
to make it inadvisable to do so. 6. For reasons recorded, it shall be in the discretion of the 'Authorized Officer' to
adjoum/discontinue the sale. 7. Inspection of the property can be done on 05-0ct-2020 between 11 AM to 5.00 PM.
PLUS uncharged interest from 01.07.2020 till its realization and expenses incurred by Bank. Wilful Defaulters (COE)
8. The person declared as a successful bidder shall, immediately after such declaration, deposit twenty-five percent Description of the Immovable Property Yours faithfully,
Branch Manager
All that part and parcel of Entire second floor (with roof right) of House No. E-9, situated at Hauz Khas Enclave, New Delhi
of the amount of purchase money/bid which would include EMD amount to the'Authorised Officer* within 24Hrs and
in default of such deposit, the property shall forthwith be put to fresh auction/Sale by private treaty. 9. In case the initial
deposit is made as above, the balance amount of the purchase money payable shall be paid by the purchaser to the
110016 measuring area 200.00 sq yards and two shops on Ground Floor bearing Shop no.E-9/1 & E-9/3 park facing being built up
part of Property no.9, Block E, Hauz Khas Enclave, New Delhi-110016 in the name of Seema Sharma D/O Sh.Abhay Ram Sharma.
'Authorized Officer* on or before the 15th day from the date of confirmation of the sale of the property, exclusive of
such day, or if the 15th day be a Sunday or other holiday, then on the first office day after the 15th day. 10. In the event
of default of any payment within the period mentioned above, the property shall be put to fresh auction/Sale by
Bounded; House Shop
On the North by: Road Remaining portion of the property owned by Pritpal Singh
private treaty. The deposit including EMD shall stand forfeited by TATA CAPITAL HOUSING FINANCE LTD and the
defaulting purchaser shall lose all claims to the property. 11. Details of any encumbrances, known to the TATA
CAPITAL HOUSING FINANCE LTD, to which the property is liable: Nil. Claims, if any, which have been putforward to On the South by: Road, Lawn Road, Lawn
the property and any other known particulars bearing on its nature and value: Nil. 12. For any other details or for
procedure online training on e-Auction to the prospective bidders may contact the Client Service Delivery (CSD) On the East by: Plot no. E-10 Plot no. E-10
Department of our Sales & Marketing and e-Auction Service Provider, M/s NexXen Solutions Private Limited,
Address: #203,2nd Floor, Shree Shyam Palace, Sector: 4&5 Crossing, Railway Road, Gurugram - 1 2 2 006 through
On the West by: Plot No. E-8 Plot No. E-8
its Mobile No.+919710029933,+9198100 29926, Tel. No.+91 1244233933, E-mail ID: CSD@disposalhub.com or
Dated: 23.09.2020 Authorised Officer
Arijit Bhatt, Email idArijit.bhatt@tatacapital.com Authorized Officer Mobile No 9029073280. Please send your query
on WhatsApp Number - 9029073280. 13. Please refer to the below link provided in secured creditor's website Place: New Delhi Indian Bank erstwhile Allahabad Bank
https://bit.ly/2GNJbHK for the above details.

Indian Bank
Date: - 25-09-2020 Place: - Delhi Sd/-Authorised Officer, For Tata Capital Housing Finance Limited

byigicin ALLAHABAD

PUBLIC NOTICE
This is for notice of the general public that a
political party is proposed to be registered by
the name of Azad Samaj Party (Kanshi
Ram). T h e office of the party is located at
H.No -180, gali no 3/22, (khasra no 265),
Gokul Pur Village Ilaka Shahadra, Delhi -94.
This Party has submitted application to the
Election Commission of India, New Delhi. if
or its registration a s Political Party under
Section 29A of the Representation of People
Act, 1951- Names / address of the office-
b e a r e r s of t h e P a r t y a r e a s f o l l o w s ,
I . President: C h a n d r a S h e k h a r S / O
Sh. Gordhan Das R/o H.No-1143, Chhutmalpur,
District Saharanpur (U.P.)
2. General Secretary: Himanshu S/o Shri
R a j e s h R / O 230/17-A R a i l w a y Colony,
M a n d a w a l i , Delhi - 9 2
3. Treasurer: Virendra Kumar Shirish S/o
Shri Shiv Charan Lal, R/o H. NO. 44, Moh.
Sarai Kishan Chand,Dibai District
Bulandshahar, (U.P.) If any one h a s any
objection to the registration of Azad Samaj
Party (Kanshi Ram) they may send their
O b j e c t i o n with r e a s o n s t h e r e o f , to t h e
Secretary (Political Party) Election
Commission of India, Nirvachan Sadan,
Ashoka Road, New Delhi-110001 within
30 days of the publication of this notice.
byigicin
Corporate Office : 254-260, Avvai Shanmugam Salai, Royapettah, Chennai 600014
ALLAHABAD Branch: Anandlok Branch, 1 DDA Market, Uday Park, New Delhi-110049, Phone No 011-41099477, 41099462
Corporate Office : 254-260, Avvai Shanmugam Salai, Royapettah, Chennai 600014 APPENDIX - IV {Rule-8(1)} POSSESSION NOTICE (for immovable property)
Branch: Anandlok Branch, 1 DDA Market, Uday Park, New Delhi-110049, Phone No 011-41099477, 41099462 Where as, The undersigned being the authorized officer of Indian Bank under the Securitization and Reconstruction of
Financial Assets and Enforcement of Security Interest Act 2002 and in exercise of powers conferred under section 13 (12) read
APPENDIX - IV {Rule-8(1)} POSSESSION NOTICE (for immovable property) with rule 8 & 9 of the Security Interest (Enforcement) Rules, 2002 issued a demand notice dated 01.07.2020 calling upon the
Where as, The undersigned being the authorized officer of Indian Bank under the Securitization and Reconstruction of borrower MS.SEEMA SHARMA D/O Sh.Abhey Ram Sharma (A/C No : 50382918319) resident of L-44 , First Floor,
Financial Assets and Enforcement of Security Interest Act 2002 and in exercise of powers conferred under section 13 (12) Lajpat Nagar II, New Delhi- 110024 and also at E-9, Hauz Khas, Delhi-110016 with our Anandlok Branch to repay the
read with rule 8 & 9 of the Security Interest (Enforcement) Rules, 2002 issued a demand notice dated 01.07.2020 calling amount mentioned in the notice being Rs.46,02,325.00 (Rupees forty six lacs two thousand three hundred and twenty five
upon the borrower M/S Gurukripa Enterprises (Proprietor - Ms. Seema Sharma) (A/C No: 50284542038) having its only) PLUS uncharged interest from 01.07.2020 till its realization within 60 days from the date of receipt of the said notice.
Registered Office at E-9, Hauz Khas, Delhi-110016 with our Anandlok Branch to repay the amount mentioned in the The Borrower's attention is invited to the provisions of section 13(8) of the Securitisation and Reconstruction of Financial
notice being Rs.1,92,17,275.00 (Rupees one crore ninety two lacs seventeen thousand two hundred seventy five only) Assets & Enforcement of Security Interest Act, 2002, in respect of the time available, to redeem the secured assets.
PLUS uncharged interest from 01.07.2020 till its realization 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 in particular and the public in general
The Borrower's attention is invited to the provisions of section 13(8) of the Securitisation and Reconstruction of Financial that the undersigned has taken possession of the property described herein below in exercise of powers conferred on him/her
Assets & Enforcement of Security Interest Act, 2002, in respect of the time available, to redeem the secured assets. under Section 13(4) of the said Act read with rule 8 & 9 of the said rules, on this 23rd day of September of the year 2020.
The borrower having failed to repay the amount, notice is hereby given to the borrower in particular and the public in general The borrower in particular and the public in general is hereby cautioned not to deal with the below mentioned property
that the undersigned has taken possession of the property described herein below in exercise of powers conferred on him/her and any dealings with the property will be subject to the charge of the Indian Bank erstwhile Allahabad Bank for an
under Section 13(4) of the said Act read with rule 8 & 9 of the said rules, on this 23rd day of September of the year 2020.
The borrower in particular and the public in general is hereby cautioned not to deal with the below mentioned property amount of Rs.45,54,574.00 (Rupees forty fiveand Lacs fifty four thousand five hundred seventy four only) PLUS uncharged
and any dealings with the property will be subject to the charge of the Indian Bank erstwhile Allahabad Bank for an interest from 23.09.2020 till its realization expenses incurred by Bank.
Description of the Immovable Property
amount of Rs.1,92,17,275.00 (Rupees one crore ninety two lacs seventeen thousand two hundred seventy five only)
PLUS uncharged interest from 01.07.2020 till its realization and expenses incurred by Bank. All that part and parcel of the Residential House no. L-44, Entire First Floor, Lajpat Nagar II, New Delhi 110024
Description of the Immovable Property measuring 83.61 sq meter(100 sq yards) in the name of Ms.Seema Sharma D/O Sh.Abhey Ram Sharma.
All that part and parcel of the Entire mezzanine floor of the property bearing no.9, Block - E, Hauz Khas Enclave, New Bounded; On the North by: Service Lane, On the South by: 40.00 ft wide road, On the East by: Property no. L 46, On
Delhi-110016 in the name of Ms.Seema Sharma D/O Sh.Abhey Ram Sharma. the West by: Property no. L 43
Bounded; On the North by: Road 40 ft wide, On the South by: E block market, On the East by: E-10, On the West by: E-8 Dated: 23.09.2020 Authorised Officer
Dated: 23.09.2020 Authorised Officer
Place: New Delhi Indian Bank erstwhile Allahabad Bank Place: New Delhi Indian Bank erstwhile Allahabad Bank
Weekend Business Standard POLI
o
N E W DELHI | 26 SEPTEMBER, 2020

ICICI B a n k Ltd, PUBLIC NOTICE ^ ^ O n 1 State Bank of India, Stressed Assets Recovery Branch
I C I C I Bank NBCC Place Pragati Vihar, New Delhi-110 003 This is for notice of the general public that a • • N l l l Matrix Mall, III Floor, Sector - 4, Jawahar Nagar, Jaipur (Rajasthan) -302004,
Notice under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of

CORRIGENDUM
Security Interest Act, 2002 (The Act)
political party is proposed to be registered by the E-mail: sbi.18184@sbi.co.in, Tel.: 0141-2657811,2657921,2657926
nameof VANDE REPUBLIC PARTY. The office " A P P E N D I X - I V - A " [ S e e p r o v i s o to rale 8 ( B ) ] Name of Borrower(s) Particulars of Mortgaged Date Of NPA Outstanding Amount
Please refer tofoe"PUBLIC NOTICE - TENDER CUM AUCTION FOR SALE OF of the party is located at 555, NITI KHAND-3, (A) property/ (ies) (C) ( Rs.)
SECURED A S S E T (Borrower Name M/s Fodders Electric and Engineering Limited) E-aucilon Sale Notice For Sale 01 Immovable Property
NEAR PEPAL CHOWK, INDIRAPURAM, (B) (D)
GHAZIABADUTTAR PRADESH- 201014. This E-Auction Sale Notice lor Sale of Immovable Assets under the Securitisation and
published in this paper on August 19.2020.Through this public notice, last date for LOAN ACCOUNT NO. APARTMENT/PENTHOUSE NO. 502, 5TH 20.11.2019 Rs.45,16,579/- (Rupees
party has submitted application to the Election Reconstruction of Financial Assets end Enforcement of Security Interest Act, 2002 read
s u b m i s s i o n of o n l i n e a p p l i c a t i o n I E M D I K Y C d o c u m e n t s e t c . i s HHLKHU00079280 FLOOR, TULIP TOWER, "THE FOREST Forty Five Lakh Sixteen
Commission of India, New Delhi for its with proviso to Rule 8(6) of the Security Interest (Enforcement) Rules, 2002.
being extended till October 20, 2020 and e-auction will be held on October 22. 2020. 1. RAJNI MISHRA SPA", SECTOR - 43, SARAI KHAWAJA, Thousand Five Hundred
registration as political party under section 29A Notice is hereby given to the public in general and in particular to the Borrower(s) and
Property can be inspected on October 15,2020. (CO-BORROWER, WIFE BADKHAL - SURAJKUND ROAD, Seventy Nine Only) as
of the Representation of People Act 1951- Guarantor(s) that the below described the immovable property mortgaged to the Secured
All other terms and conditions as mentioned in the auction notice published on August 19, Creditor, the physical possession of which has been taken by the Authorised Officer of AS WELL AS LEGAL HEIR FARIDABAD-121003, HARYANA ALONG on 17.09.2020
Name/ address of the office bearers of the party
2020 remain unchanged. g^. State Bank of India, Stressed Assets Recovery Branch (SARB), Jaipur (Raj.), the OF LATE NIKET WITH ONE COVERED AND ONE OPEN
areasfollows:-
Secured Creditor, will be sold on "As is where is', "As is what is", "whatever there is" and MISHRA) CAR PARKING SPACE
Date: September 25,2020 Authorised Officer President- CHANDERBHAN NARNAULI.
Place: New Delhi For ICICI Bank Limited General Secretary- SMTVIJAY NARNAULI "Without Recourse" basis on 13.10.2020 from 12.00 Noon to 01.00 P.M. (With unlimited 2. NAMAN MISHRA
Treasurer- RAJESHSHARMA extensions of 5 min. each) for recovery of Rs. 46,98,432/- as on 05.08.2020 + plus (MINOR SON AS WELL
If any one has any objection to the registration of further interest, cost,charges & other expenses etc. due to the state bank of india secured AS LEGAL HEIR OF LATE
VANDE REPUBLIC PARTY, they may send creditor from Smt. Geeta Sharma W/o Shri Vijay Kumar Sharma (Borrower), Shri Vijay NIKET MISHRA THROUGH
U. P. STATE SUGAR CORPORATION LTD. their Objection with reasons thereof, to the Kumar Sharma S/o Shri Niwas Sharma (Co-borrower). The reserve price will be
Rs.30,37,000/- (Thirty Lakh Thirty Seven Thousands Only) and the earnest money
NATURAL GUARDIAN)
VIPIN K H A N D , G O M T I N A G A R , L U C K N 0 W - 2 2 6 0 1 0 Secretary(Political Party), Election Commission 3. ARCHNA MISHRA
Ph. No. 0 5 2 2 - 2 3 0 7 8 2 6 / 2 8 , Fax: 0 5 2 2 - 2 3 0 7 8 9 5 of India, Nirvachan Sadan, Ashok Road, New deposit will be Rs. 3,04,000/- (Three Lakh Four Thousands Only), the latter amount to be (MOTHER AS WELL AS
Email : upstatesugarcorporation@gmail.com, www.upsugcorp.com Delhi-110001 within 30 days of the publication of deposited with the bank on or before 12.10.2020. LEGAL HEIR OF LATE
Ref. No. F A / S S C / T e n d e r / 2 0 2 0 - 2 1 / 5 1 1 Date : 2 5 . 0 9 . 2 0 2 0 this notice Description of the immovable property (with known encumbrances, if any) NIKET MISHRA)
All the part and parcel of property consisting of property situated at Uni1/Flat No. 803
E-TENDER NOTICE T h a t t h e a b o v e n a m e d b o r r o w e r ( s ) h a v e f a i l e d t o m a i n t a i n t h e financial d i s c i p l i n e t o w a r d s t h e i r l o a n a c c o u n t (s) a n d a s p e r
(without roof right), built up at 7th Floor in multy storey premises "Gurushikar-1 (I)" at
Online e-tenders are invited from Accounting Professionals/Chartered Khasra No. 9,10,18, Group Housing Block C-2(G), Village- Nanakpura Urf Hema ki
b o o k s o f a c c o u n t s m a i n t a i n e d in t h e o r d i n a r y c o u r s e o f b u s i n e s s b y t h e C o m p a n y , C o l u m n D i n d i c a t e s t h e o u t s t a n d i n g a m o u n t .
D u e t o p e r s i s t e n t d e f a u l t in r e p a y m e n t of t h e L o a n a m o u n t o n t h e part o f t h e B o r r o w e r ( s ) t h e a b o v e s a i d loan a c c o u n t h a s
Accountants (as per details given in tender documents) for Accounting works in Nangal, Tehsil-Sanganer, Distt.- Jaipur (Raj.) with all facilities (Common roof, stairs, b e e n c l a s s i f i e d b y t h e C o m p a n y a s N o n P e r f o r m i n g A s s e t ( a s o n d a t e in C o l u m n C ) w i t h i n t h e g u i d e l i n e s relating t o a s s e t s
HO and units, Internal Audit of units and Preparation of Ind A S Financial Boring etc.) and covered parking; Build-up Area 1285.60 Square Feets and Super c l a s s i f i c a t i o n i s s u e d b y R e g u l a t i n g A u t h o r i t y . C o n s e q u e n t l y , n o t i c e s u n d e r S e c . 1 3 ( 2 ) o f t h e A c t w e r e also i s s u e d t o e a c h o f
Statements of Holding and Subsidiary Companies of U . P. State Sugar Build-up area 1607 Square Feets (as per records available in bank) in the name of Smt. the borrower.
Corporation Ltd. The e-tender documents with detailed work scopes, terms and Geeta Sharma W/o Shri Vijay Kumar Sharma. Bounded by :- In v i e w o f t h e a b o v e , t h e C o m p a n y h e r e b y calls u p o n t h e a b o v e n a m e d B o r r o w e r ( s ) t o d i s c h a r g e in full his/their liabilities
conditionsetc.,canbedownloadedfrome-tenderportal http://etender.up.nic.in On the East by Open Part, On the West by Flat No. 802, t o w a r d s t h e C o m p a n y b y m a k i n g t h e p a y m e n t of t h e entire o u t s t a n d i n g d u e s i n d i c a t e d in C o l u m n D a b o v e i n c l u d i n g u p t o
& Sugar Corporation's website: www.upsugcorp.com from time to time, d a t e interest, c o s t s , a n d c h a r g e s w i t h i n 6 0 d a y s f r o m t h e d a t e o f p u b l i c a t i o n o f t h i s n o t i c e , failing w h i c h , t h e C o m p a n y s h a l l b e
starting from 2 6 . 0 9 . 2 0 2 0 . On the North by Corridor, On the South by Open Part,
entitled t o t a k e p o s s e s s i o n o f t h e M o r t g a g e d P r o p e r t y m e n t i o n e d in C o l u m n B a b o v e a n d s h a l l a l s o t a k e s u c h o t h e r a c t i o n s a s
Encumbrances:- Not known
The Managing Director, Sugar Corporation reserves the right to cancel any or all is a v a i l a b l e t o t h e C o m p a n y in law.
For detailed terms and conditions of the sale, please refer to the link provided in State
bids/annul e-bidding process without assigning any reason to & decision of
Corporation will be final & binding. MANAGING DIRECTOR
BS premium Bank of India, Stressed Assets Recovery Branch (SARB), Jaipur (Raj.) Secured
Creditor's website:- https://sbl.co.ln/Web/sbl-ln-the-news/auctlon-notlces/sarfaesl-
P l e a s e n o t e t h a t in t e r m s o f p r o v i s i o n s o f s u b - S e c t i o n (8) o f S e c t i o n 1 3 o f t h e S A R F A E S I A c t , " A b o r r o w e r c a n t e n d e r t h e e n t i r e
a m o u n t o f o u t s t a n d i n g d u e s t o g e t h e r w i t h all c o s t s , c h a r g e s a n d e x p e n s e s i n c u r r e d b y t h e S e c u r e d C r e d i t o r o n l y till t h e d a t e o f
p u b l i c a t i o n o f t h e notice f o r s a l e o f t h e s e c u r e d a s s e t ( s ) b y p u b l i c a u c t i o n , b y inviting q u o t a t i o n s , t e n d e r f r o m p u b l i c o r b y p r i v a t e
and-others and https://sbi.auctiontiger.n8t
digital at Date: 18.09.2020 Place: Jaipur (Raj.) (AUTHORISED OFFICER)
treaty. F u r t h e r it m a y a l s o b e n o t e d t h a t in c a s e B o r r o w e r f a i l s t o r e d e e m t h e s e c u r e d a s s e t w i t h i n a f o r e s a i d legally p r e s c r i b e d
t i m e f r a m e , B o r r o w e r m a y n o t b e entitled t o r e d e e m t h e property."

Western Coalfields Limited ?1499/year

In t e r m s o f p r o v i s i o n o f s u b - S e c t i o n (13) o f S e c t i o n 13 o f t h e S A R F A E S I A c t , y o u a r e h e r e b y p r o h i b i t e d f r o m t r a n s f e r r i n g , e i t h e r
by w a y of s a l e , l e a s e o r o t h e r w i s e ( o t h e r t h a n in t h e o r d i n a r y c o u r s e o f h i s b u s i n e s s ) a n y o f t h e s e c u r e d a s s e t s r e f e r r e d t o in
(A subsidiary of Coal India Ltd.) t h e n o t i c e , w i t h o u t prior w r i t t e n c o n s e n t o f s e c u r e d creditor. Sd/-

Place: FARIDABAD For Indiabulls Housing Finance Limited

TENDER NOTICE I ^ Q f VfdrJJ^ tfr at Stffj B-136, Preet Vihar, Authorized Officer
Tender N o . : KA3450-ENM-ETN-12-2020-21. Description of W o r k : Punjab & Sind Bank Delhi-110092
(1) & (2) Install L T power transmission line in G S A . L o c a t i o n :
(1) G h o r a w a r i 2 , (2) Ghorawari 1. E s t i m a t e d c o s t : (1) R s . 5 , 4 2 , 1 0 7 ,
For details, (A Govt, of India Undertaking)
Where service is a way of ttfe
Ph-Office: 011-22520506,
E.mail: d0878@psb.co.in
(2) R s . 7 8 , 2 4 , 4 6 2 . C o m p l e t i o n P e r i o d : (1) 4 5 D a y s , (2) 3 0 D a y s .
B i d s u b m i s s i o n e n d d a t e & t i m e : up to 18.30 hrs. on (1) 3 0 . 0 9 . 2 0 2 0
(2) 1 0 . 1 0 . 2 0 2 0 . B i d o p e n i n g D a t e & t i m e : at 1 8 . 3 0 h r s . o n
SMS reachbs [Rule - 8(1)] 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 property)
Whereas, The undersigned, being the Authorized officer of Punjab and Sind Bank, Preet
Vihar, Delhi - Branch under the Securitization and Reconstruction of Financial Assets and
(1) 0 1 . 1 0 . 2 0 2 0 (2) 11.10.2020. T e n d e r i n g A u t h o r i t y : Staff
Officer (E&M), W C L , K a n h a n A r e a . to 57575 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, issued a Demand

UNION BANK OF INDIA

T e n d e r N o . : p e 3 3 5 0 - m i n - e 0 0 4 1 - 2 0 2 0 - 2 1 . ( T e n d e r ID N o .
2 0 2 0 _ W C L _ 1 8 2 9 9 0 _ 1 ) . D e s c r i p t i o n o f W o r k : Operation a n d
M a i n t e n a n c e of T B - 1 , T B - 2 , T B - 3 a n d T B - 4 ( 1 4 D i p ) a n d
Transportation a n d Installation of 1 no. Direct H a u l a g e in S e a m V at
N a h e r i y a Underground Mine of P e n c h A r e a . E s t i m a t e d C o s t o f w o r k :
R s . 83,95,079.44. Period of C o m p l e t i o n : 210 days. Bid s u b m i s s i o n
e n d d a t e & t i m e : o n 0 7 . 1 0 . 2 0 2 0 up to 17.00 hrs. D a t e & t i m e o f
o p e n i n g o f t e n d e r [ C o v e r - I ( T e c h n i c a l - B i d ) ] : on 0 9 . 1 0 . 2 0 2 0 at
11.00 hrs. D a t e 8> t i m e o f O p e n i n g o f T e n d e r [ C o v e r - l l ( P r i c e - B i d ) ]
( T e n t a t i v e ) : o n 1 9 . 1 0 . 2 0 2 0 at 11.00 hrs. T e n d e r i n g A u t h o r i t y :
General Manager (OPR.), W C L , Pench A r e a , P a r a s i a , Dist.
C h h i n d w a r a - 4 8 0 4 4 1 (MP).
F o r details c o n t a c t : https:ftaesterncoal.in, http^hpracure.gov.in & www.coalindiatendnrs.nic.in
" G i v e a m i s s e d call o n toll free n u m b e r 18002003004 to get our a p p s "
Notice dated 05.03.2020 calling upon (1) Smt. Purnima w/o Sh. Hitender Kumar Khare
or email (Borrower), (2) Sh. Hitender Kumar Khare s/o Sh. Nand Kishore Khare (Co-Borower) and
(3) Sh. Kunal Kumar s/o Sh Ashok Kumar (Guarantor) to repay the amount mentioned as in
the notice being Rs. 27,17,702/- (Rupees Twenty Seven Lakh Seventeen Thousand Seven
order@bsmail.in Hundred Sixty Twoonly) as on 29.02.2020 together with future interest w.e.f. 01.03.2020 at
the applicable rate of interest on the aforesaid amount and incidental expenses, costs, charges
& otherexpenses etc.thereonwithin a period of60(sixty)daysfromthedateofreceipt ofthe
said notice.
As the borrower /Guarantors having failed to repay the amount, notice is hereby given to the
Borrower /Guarantors and the public in general that the undersigned has taken possession
of the property described herein below in exercise of powers conferred on him/her under
section 13(4) of the SARFAESI Act read with rule 8 of the said lulesonthis 21" day of the
September2020.
The Borrower/Guarantors in particular and the public in general is hereby cautioned not to deal
with the property and any dealings with the property will be subject to the charge ofthe Punjab
and Sind Bank for the amount Rs. 27,17,762/- (Rupees Twenty Seven Lakh Seventeen
B R A N C H : 2/C 130A, N E A R G A N D H A R V VIDYALAYA.
N E H R U N A G A R , D I S T G H A Z I A B A D U.P.
See proviso to rule 8(6)]
Sale notice for sale of Immovable properties
Notice is hereby given to the public in general a n d to the Borrower/s a n d Guarantor/s in particular b y the
A u t h o r i z e d Officer, that t h e under m e n t i o n e d property h y p o t h e c a t e d to U n i o n B a n k of India, K A V I N A G A R Branch,
taken P H Y S I C A L P O S S E S S I O N under the provision of Section 13(4) of Securitization Reconstruction of Financial
Assets a n d Enforcement o f Security Interest Act,2002, will b e sold b y E- Auction as m e n t i o n e d below for recovery
o f u n d e r m e n t i o n e d d u e s a n d f u r t h e r interest, c h a r g e s a n d costs etc., a s d e t a i l e d b e l o w .
T h e property i s being sold on " A S IS W H E R E IS W H A T E V E R T H E R E IS A N DW I T H O U T R E C O U R S E
B A S I S " as such sale is without a n yk i n d of warranties a n d indemniteis. T h e under m e n t i o n e d property will b e sold b y
"Online E - A u c t i o n through website ubi.auctiontiger.net o n 15.10.2020 for recovery of a n a m o u n t of Rs. 12,14,735.71
(Rupees Twelve Lacs Fourteen thousand Seven hundred Thirty Five a n d Paisa Seventy O n e only) as o n with interest

Business Standard
and other expenses.
Thousand Seven Hundred Sixty Two only) as on 29.02.2020 together with future interest
w.e.f. 01.03.2020 on the aforesaid amount and incidental expenses, costs, charges & other N a m e of borrower & mortgagor Borrower-Mr Sameer Seth, (Borrowers) a n d M r s . R a g i n i Seth (Guarantor)
expenses etc. thereon. Date and time of Auction 15.10.2020 between 11.00 A M T o 12.00 P M with unlimited extension of
OFFICE OF THE EXECUTIVE ENGINEER PWD DESCRIPTION OF T H E MORTGAGED PROPERTY:
" 1 0 " m i n u t e s i.e. t h e e n d t i m e o f e a u c t i o n w i l l b e e x t e n d e d b y 1 0 M i n u t e s e a c h
time if b i d is m a d e within the last 10 b e f o r e closure o f auction.
(R&B) CONST. DIV. NO. II, JAMMU Insight Out All the partand parcel of the Immovable Property :- Earnest M o n e y Deposit ( E M D ) R s 1,61,700/- ( R s O n e L a k h sixty o n e thousand seven h u n d r e a d only)
S H O R T N O T I C E INVITING T E N D E R Residential Property No. E-373 , First Floor, measuring area 125 Sq. Yrris. Gali No. 6 ,
Last date of submission o f bids 14.10.2020
Mandir Marg, East Babaipur, Chhajjupur Colony, Village Sikdaipur, Shahdara, Delhi-110032
e - N I T No. 8 4 o f 2 0 2 0 - 2 0 2 1 / D i v - 2 D a t e d 2 2 - 0 9 - 2 0 2 0 Reserve Price Rs 16,17,000/-(Rs Sixteen Lakhs Seventeen thousand only)
in the name of Smt. Purnima W/o Sh Hitender Kumar Khare. Registered Sale Deed No. 2356
E x e c u t i v e E n g i n e e r P W D ( R & B ) C o n s t r u c t i o n D i v i s i o n N o . II, Bid Increment Amount b y Rs. 5 0 0 0 . 0 0
dated 30.05.2017 before Sub-Registrar-IV A, Shahdara.
J a m m u D e p a r t m e n t J a m m u o n behalf of Lt. G o v e r n o r o f Union Property is Bounded as :- East: Property of Rajbir Singh, West: Property of Pummt D e b t D u ewith interest a n d cost Rs. 12,14,735.71(Rupees Twelve Lacs Fourteen thousand Seven h u n d r e d Thirty
Territory o f J & K , invite t e n d e r s by e - t e n d e r i n g m o d e f r o m a p p r o v e d Kaushik, North: Gali 15ftwide, South: Property of Om Prakash. Five a n d Paisa Seventy O n e only) + Interest a n d other expenses there o n
Date & T i m e of inspection of
a n d eligible contractors registered with J & K U n i o n Territory Govt. Place: Delhi, Date: 21-09-2020 AUTHORIZED OFFICER
property for intending purchasers
upto 1800 H r s on 28-09-2020 for the following work.
Details of encumbrances over the No known
S . N o . 1 N a m e o f W o r k :- C o n s t r u c t i o n o f r o a d f r o m N H 4 4 K a r l i
property, as k n o w n to the Bank
P o w e r Station to Harijan Basti c o n n e c t i n g P M G S Y road J a m m u .
T h e r e f u n d a b l e E M D 1 0 % O F R E S E R V E P R I C E shall b e p a y a b l e b y interested bidders through N E F T /
(underIIM)
RTGS/Funds Transfer on or before 14.10.2020, 5.00 P M in Account No: 448401980050000, U N I O N B A N K O F
N a m e o f D i v i s i o n : - P W D ( R & B ) C o n s t . Div. N o . II J a m m u I N D I A K A V I N A G A R branch through I F S C Code: U B I N O 5 4 4 8 4 1 or b y D D / P a y order favouring U n i o n B a n k of India,
E s t i m a t e d C o s t ( R s . in l a c s ) : - 1 2 4 . 9 5 . C o s t o f d o c u m e n t (in R s . )
:- 6 0 0 0 , E a r n e s t M o n e y (in R s . ) : - 2 4 9 9 0 0 / - , T i m e A l l o w e d f o r
AXIS BANK K a v i n a g a r B r a n c h p a y a b l e at K a v i n a g a r .
B o r r o w e s a r e a d v i s e d t o visit t h e B a n k ' s w e b s i t e u n i o n b a n k o f i n d i a . c o . i n f o r d e t a i l e d t e r m s a n d c o n d i t i o n s o f
Retail Assets Center: 1st Floor, G-4/5, B, Sector-4, Gonrti Nagar Extension Lucknow-226010 e - a u c t i o n sale a n d other details b e f o r e s u b m i t t i n g their B i d s o r t a k i n g part i n t h e e-auction. B i d d e r m a y also visit t h e
c o m p l e t i o n : - 06 m o n t h , T i m e & date of o p e n i n g of t e n d e r : - 2 9 - website https://ubi.auctiontiger.net of Service Provider.
Corporate Office : 3rd Floor, Block-B, Bombay Dyeing Mills Compound, Pandurang Budhakar Marg, Worli, Mumbai-400 025
09-20201400 hours T h e t e r m s a n d conditions o f sale shall b e strictly a s p e r t h e p r o v i s i o n s of T h e Security Interest R u l e s ( E n f o r c e m e n t )
Registered Office : Trishul', 3rd floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad-380006 Rules, 2002.
C l a s s of C o n t r a c t o r : - " A " C l a s s
S . N o . 2 N a m e of W o r k :- I m p r o v e m e n t /upgd. of Jagti B a m y a l Final Reminder for removal of Articles & Auction cum bid Invitation T h e interested bidder m a y contact the A U T H O R I S E D O F F I C E R Mr. Shailendra Sharma & M r Brijesh K u m a r
Shukla ( B M ) for ascertaining the details o f auction andinspection of property o n the date m e n t i o n e d as above Contact
r o a d b y w a y o f p r o v i d i n g a n d l a y i n g 2 . 5 c m t h i c k p r e m i x c a r p e t in ForSubrata Bhattacharya Loan No. PH0530100142967_HT0530100149540 No. 9990773016 a n d 9918301367 e-mail I D kavinagar@unionbankofindia.com
SCHEDULED MOVABLE PROPERTY
p a t c h e s a n d stretches. (Under Non Plan)
We have taken physical possession of Flat admeasuring area 74.349 sq.mt, situated at FLAT NO- 303 THIRD FLOOR, E q u i t a b l e M o r t g a g e d P r o p e r t y : C o m m e r c i a l P r o p e r t y S i t u a t e d at S h o p N o 1 0 1st F l o o r ( W i t h o u t R o o f R i g h t )
N a m e o f D i v i s i o n : - P W D ( R & B ) C o n s t . Div. N o . II J a m m u Shoppers Square Plot N o R-14/8 Rajnagar, Ghaziabad, Measuring Area 20.8 S q M t rin the N a m e of M r s Ragini Seth
BLOCK-A GRANDEUR APPRTMENT-II, JIYAMAU, PARGANA & DIST- LUCKNOW, U.P-226001 OWNED by
E s t i m a t e d C o s t ( R s . i n l a c s ) : - 5 8 . 7 0 , C o s t o f d o c u m e n t (in R s . ) :- S T A T U T O R Y 30/15 D A Y S S A L E N O T I C E U N D E R R U L E 8(6)/Rule 9(1)O F S T A T U T O R Y I N T E R E S T
Mr. SUBRATA BHATTACHARYA through Authorised Officer of the Bank, under the SARFESI Act, 2002 (SARFAESI Act) on ( E N F O R C E M E N T ) R U L E S 2002
1 0 0 0 , E a r n e s t M o n e y ( i n R s . ) : - 117400/- , T i m e A l l o w e d f o r
29-12-2019 and in an open public auction conducted on 02-09-2020, the said property has been sold for a sum of This m a y also b e treated as notice u/r 816)/Rule 9(1) of Security Interest (Enforcement) Rules, 2002 to the
c o m p l e t i o n :-01 m o n t h , T i m e & date of o p e n i n g of t e n d e r : - 2 9 -
Rs 27,00,000/- (Rs. Twenty Seven lakhs Only) and sale certificate has been issued in favour of successful auction purchaser. borrower/s a n d guarantor/s o f the said loan about the holding o f E - A u c t i o n Sale o n the above m e n t i o n e d date.
09-20201400 hours
That two notices have been already sent on dated 08.09.2020 and on dated 15.09.2020 through registered post but in spite of Date:24-09-2020
C l a s s of C o n t r a c t o r : - " A " C l a s s / H o t Mix P l a n t H o l d e r our repeated reminders and continuous follow-up, there is no response from you for Removable of movable item lying on the Place:Ghaziabad Authorised Officer
S . N o . 3 N a m e o f W o r k :- I m p r o v e m e n t u p g r a d a t i o n o f S i d h r a aforesaid property. We are hereby again giving you notice for 7 more Days for removable of the same failing to which we will put
S u r i n s a r M a n s a r road by w a y of providing a n d laying 2 . 5 c m the same to auction on dated 05.10.2020. That you can remove the movable articles till opening of bids as mentioned
t h i c k p r e m i x c a r p e t in p a t c h e s a n d s t r e t c h e s . ( U n d e r N o n P l a n ) hereunder.
N a m e o f D i v i s i o n : - P W D ( R & B ) C o n s t . Div. N o . II J a m m u We hereby further gives public notice for auction sale of movables articles lying at aforesaid property as per inventory list
E s t i m a t e d C o s t ( R s . i n l a c s ) : - 5 7 . 9 3 , C o s t o f d o c u m e n t (in R s . ) :- prepared, the said articles shall be sold in an open public auction on 05.10.2020 and tenders will be opened at 02:00 p.m.
1 0 0 0 , E a r n e s t M o n e y (in R s . ) : - 115860/- , T i m e A l l o w e d f o r accordingly. The inspection of articles can be made not later than 03.10.2020 between 11 AM to 05 PM only with prior
c o m p l e t i o n : - 01 m o n t h , T i m e & d a t e o f o p e n i n g o f t e n d e r : - 2 9 - permission of the Authorised Officer. The sale of movable items will be done in entirety (and not in lots) on "AS IS WHERE IS",
09-20201400 hours "AS IT IS BASIS" "WHATEVERTHERE IS" & "NO RECOURSE BASIS". The terms and conditionsof the sale and list of articles

TATA CAPITAL HOUSING FINANCE LIMITED

C l a s s of C o n t r a c t o r : - " A " C l a s s / H o t Mix P l a n t H o l d e r can be obtained from authorized representative of the Bank on the day of inspection. We have taken costing of these movable
Article from the market and fixed the reserve price as Rs.55,000/-
N O T E : C o n t r a c t o r s w h o h a v e got C o n t r a c t o r s c a r d s i s s u e d from
K a s h m i r P r o v i n c e , it i s m a n d a t o r y f o r t h e m t o u p l o a d t h e i r Each tender offer shall be accompanied by an Earnest Money Deposit (EMD) of Rs.5,500/-, infoeform of Demand Draft (DD) / R e g i s t e r e d A d d r e s s : 11th F l o o r , T o w e r A, P e n i n s u l a a B u s i n e s s P a r k ,
Pay Order (PO)/Cheque drawn on a Scheduled Bank in favour of 'Axis Bank Limited' payable at Lucknow. DDs / POsI I T A T A G a n p a t r a o K a d a m Marg, Lower Parel, M u m b a i 4 0 0 0 1 3
verification certificate o f C r i m e B r a n c h alongwith other
Cheque should be purchased by the tenderer or on his/her behalf only. | B R A N C H A D D R E S S : - B - 3 6 , 1 s t a n d 2 n d Floor, Lajpat Nagar- Part-2,New Delhi- 110024. |
qualifying d o c u m e n t s failing w h i c h their t e n d e r s will be
The offers in the prescribed tender format duly completed shall be put in an envelope which should be sealed and superscribed
declared non-responsive
1/ D a t e o f P u b l i s h i n g f r o m : - 2 2 - 0 9 - 2 0 2 0
with "Otter from Mr/Ms/ M/s.(Your details) for purchase ofthe Movable Asset/Articles(s) of SUBRATO BHATTCHARYA and the SALE NOTICE FOR SALE OF IMMOVABLE PROPERTIES
2/ T h e B i d d i n g d o c u m e n t s c a n b e d o w n l o a d e d f r o m t h e w e b s i t e
said envelope be dropped during noimal working hours in the TENDER BOX kept at Axis Bank Limited, (RAC), First Floor,
(Under Rule 8(6) of the Security Interest (Enforcement) Rules 2002)
G - 4/5, B, Sector-4, Gomti Nagar Extension, Lucknow - 226010, U. P. on or before 03.10.2020. Tenders received after the
http://jktenders.gov.in from o n 22-09-2020 t o 28-09-2020 due date 8, time shall not be considered under any circumstances. E-AUCTION SALE NOTICE FOR SALE OF IMMOVABLE ASSETS UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND
(1800 Hrs). _ „ „ .
„—rrrTT- Sd/- Executive Engineer For inspection ofthe movable articles,foeintending bidders may contact namely, Mr. Ramesh Jaiswal (Mob: 9044743976) and E N F O R C E M E N T O F SECURITY INTEREST ACT, 2002 R E A D W I T H PROVISO T O RULE 8(5) O F T H E SECURITY INTEREST (ENFORCEMENT) RULES, 2002
Mr.AnkitSaxena (Mob: 9557364648).
a
No. DIP/J-5012/20 ,„„„, „ , . , ,, , Notice is hereby given to the public in general and in particular to the below Borrower/ Co- Borrower that the below described immovable
PWD (R&B) Const. Div. No. II J a m m u property mortgaged to Tata Capital Housing Finance Ltd. (Secured Creditor), the Physical Possession of which has been taken by the
Dated: 2 5 0 9 2 0 2 0
Auction will be conducted at Axis Bank Limited, (RAC), First Floor, G - 4/5, B, Sector-4, Gomti Nagar Extension, Lucknow -
Authorised Officer of Tata Capital Housing Finance Ltd. (Secured Creditor), will be sold on 29-Oct-2020 "AS IS WHERE IS" & "AS IS
226010, U P. on dated 05.10.2020 at 02:00 pm. . _ _ , WHAT IS" and "WHATEVER T H E R E IS" for recovery of total sum outstanding dues from the below mentioned Borrower and Co-
(Authorized Officer) Borrowers. The Reserve Price and the Earnest Money Deposit is mentioned below.
F0RMG Date : 26.09.2020, P l a c e : L u c k n o w A X I S B A N K LTD. Whereas the sale of secured asset is to be made to recover the secured debt and whereas there was a due of a sum outstanding dues
from the borrower and Co-Borrower. Notice is hereby given that, in the absence of any postponement/discontinuance ofthe sale,
INVITATION FOR EXPRESSION 0 F INTEREST the said property shall be sold by E- Auction 2 P.M. on the said 29-Oct-2020 at at B-36,1st & 2nd Floor, Lajpat Nagar - Part 2 j
(Under Regulalion 36A (1) of lhe Insolvency and Bankruplcy Above HDFC Bank New Delhi -110024. The sealed E-Auction for the purchase of for the purchase of the property along with
EMD Demand Draft shall be received by the Authorized Officer of the TATA CAPITAL HOUSING FINANCE LTD till 5 P.M. on
(Insolvency Resolulion Process for Corporate Persons) Regulations, 2016 x s - f ^ l t U d TTt ?

Sr. No. R e l e v a n t Particulars Intonation Punjab &Sind

(A Govt, of India Undertaking)
Bank 28-Oct-2020. The sale of the property will be in "as is where condition is" and the liabilities and claims attaching to the said
property, so far as they have been ascertained, are specified in the Schedule.
1. N a m e of t h e c o r p o r a t e d e b t o r S A C 0 S INDIGO PRIVAAE LIMITED S. Loan Account Name of Obligor(s)/Legal Amount as per Type of Reserve Earnest
No. No. Branch Heir(s)/Legal Representative(s) Demand Notice Possession Price Money
2. tale o f Incorporation of Corporate Debtor AMA85
A u t h o r i t y under w h i c h C o r p o r a t e D e b t o r is 1. 9814830 Mr. Dipak Verma as (Borrower) & Rs. 11,69,505/- Physical Rs. Rs.
3.
incorporated ^ registered
Registrar of C o m p a n i e s - M u m b a i B R A N C H OFFICE : G U R U K A TAL, AGRA, U . P B.O.: Delhi Mrs. Seema Verma as (Co-Borrowers) as on 25-07-2019 16,53,000/- 1,65,300/-
4. Corporate identity number of corporate debtor ur422rMHir85PTC2i4r7i POSSESSION NOTICE U n d e r R u l e - 8(1) of S e c u r i t y Interest ( E n f o r c e m e n t ) R u l e , 2 0 0 2 ) Description of Secured Assets : All That Residential Flat /Unit No. P-604, Situated at 6th Floor of Project/ building known as
Notice is hereby given under the Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (Act No. 54 of 2002) and in exercise of Paramount Golfforeste, situated at Plot No. BGH-A, Site-C (Housing Extension), opposite Sector Zeta, Surajpur, Greater Noida, U.P.-
5. Address of lhe registered office and principal 220, Mahavir Industrial Estate Opposite Mahakali 201307. Area Admeasuring 435.00 Sq. ft. With common amenities written in the Allotment Letter Dated 14-06-2016.
powers conferred under Section 13(12) read with Rule 8 and 9 ofthe Security Interest (Enforcement) Rules, 2002, The Bank issued demand notices on the date mentioned
office (ifany)oftheCoiporate Debtor Caves Road,Andheri (E) Mumbai MH 400093 I t
against account and amount stated hereinafter calling upon them to repay the amount within sixty days from the date of receipt of said notices. The borrower having failed to 2. 9701564 Mr. Brajesh Kumar Mishra a s (Borrower) Rs. 9,96,605/- Physical Rs. Rs.
6. Insolvency c t m m e n c e m e n t date of the rorporate dettor AB.D5AD19 repay the amount, notice is hereby given to the borrowers, guarantors and the public in general that the undersigned has taken the possession ofthe property described herein B.O.: DELHI & Mrs. Pooja Kumari a s (Co-Borrowers) as on 16,53,000/- 1,65,300/-
below in exercise of powers conferred on him/her under section 13(4) of the said Act read with Rule 8 of the said Rules on the dates mentioned against account and amount
7. D a l e of invitation of e x p r e s s i o n of Interest 26.09I2020 below. The borrower's attention is invited to provisions of sub section (8) of section 13 of the Act, in respect of time available, t o redeem the secured assets. Description of Secured Assets : All That Residential Flat /Unit No. P-1007, Situated at 10th Floor, Block Pine situated at Project/
8 Eligibilityfor resolution applicants undersection 2 5 ( 2 ) ( h ) http://www.insolvericvaridbarikwptcvin The borrower and guarantor in particularand the public in general are hereby cautioned not to deal with the property. Any dealing with the property will be subject to the charge Building known as Paramount Golfforeste, situated at Plot No. BGH-A, Site-C (Housing Extension), opposite Sector Zeta, Surajpur,
of Punjab & Sind Bank ( B O : Guru Ka Tal, Agra Branch), for the amount and interest thereon. Detail of Property where Symbolic p o s s e s s i o n has been taken Is a s Greater Noida, U.P.-201301. Area Admeasuring 435.00 Sq. ft. (Super Area) With common amenities written in the Allotment
o f t h e Insolvency and Bankruptcy C o d e , 2 0 1 6 ( " C o d e " )
Letter Dated 17-06-2016.
9. Norms of ineligibility applicable under http://www.insolvericvaridbarikriptcv.in
Name of Account Borrower/ Mortgagor Description of Property Amt o/s (as mentioned Date Date of 3. 9771178 Mr. Mohammad Shahid Azam a s (Borrower) R s . 22,09,297/- Physical Rs. Rs.
section 29A of lhe Code are available at: of Posse- B.O.: DELHI &Ms. Sadaf Fatima a s (Co-Borrower) a s on19-11-2019 51,85,000/- 5,18,500/-
Guarantor (Movable/ Immovable) in the Notice u/s 13(2)) Notice ssion
10. t a s l dale for receipt ot expression ofinteresl 12.10.2020
Description of Secured Assets : All That Residential Flat/ Apartment Bearing Unit No. 2101, Situated at 21st Floor of
Date of issue of provisional list of prospective B o r r o w e r s ) & G u a r a n t o r s ) 1.M/s Karsha "ALL THAT PART AND PARCEL OF THE IMMOVEABLE TL- Rs.9,28,490.61 & ODP Building A5 Known as Habitech Panchtatva, Situated at Plot No. GH8A, Tech Zone IV, Greater Noida West -U.P.-201306. Total Area
11. 22.10.2020 - Immovable property being 15,58,091.00 as
resolulion applicants S h o e s Through Its Proprietor Sri Vijay MORTGAGED PROPERTY: On o
CNI CM Admeasuring 1525 Sq.ft. (Super Area) With common amenities written in the Allotment Cum Builder Buyer Agreement.
measuring 83.70 sqm H. No.46/821 E, Jagdish pura Loha Mandi 31.08.2019 along with
Kumar 46/821 E GALI NO 1 Ramnagar
Agra and District Agra, owned by you addressee no. 1, Sri. Vijay
§ 4. 9570244 Mr. Suresh Kumar Mohanty a s (Borrower) Rs. 22,26,743/- Physical Rs. Rs.
12. Last dale for submission of objections lo 27.10.2020 further cost interest and
Jagdlsh Pura Agra Pin Code 282002
Kumar S/o Shri Sohan Singh. Details of registered will: CM as on 19-12-2018 5,50,000/-
provitional lisl
2. Shri Vijay Kumar S/o Sohan Singh B.O.: DELHI & Mrs. Subhadra Pattnaik as (Co-Borrower) 4,65,000/-
Registered will dated 18.11.2011 executed In Favour of Sri. Vijay
13. Date of issue of final list of prospective 06.11.2020 (borrower/Mortgager) R/o 2/29 Nag la Mohan Kumar S/o Shri Sohan Singh at Bahl No. 3, Zlld No. 265 Pages Description of Secured A s s e t s : All piece and parcel of Residential Flat No C-1606 on the 15th Floor of the Building proposed to be
resolulion tpplicanls Near Agra Nursery Shahganj Agra Pin - 131 to 144 Serial No. 945 at Office of Sub Registrar II at District named as "Regency Park" being Situated at GH- 03B, Sector 16-C, Greater Noida West, Gautam Buddha Nagar U.P.- 201301, area
282010 II Address 46/1084/39, Jagdish Pura Agra. (Registered sale deed Dated 19.09.1996 Executed in admeasuring 1500.00 Sq. ft. with common amenities written in the Sale Deed
14. Dale of issue of information memorandum, Favour of Smt. Leela Devi W/o Shri Sohan Singh at Bahi No. 1,
27.10.2020 Loha Mandl Agra Pin Code -282002.
evaluation matrix and request for resolution plans photo pretikhand. 574 pages 383 to 416 serial no.3580 at Office At the Auction, the public generally is invited to submit their bid(s) personally
3. Smt BIJendr Kumar S/o Shri sohan slngh of S u b Reg Istrar 111 at D Istrlct Ag ra.
t t protpective resolution a p p t n t s The description of the Secured asset/ property that will be put up for sale is as per above Schedule. The E auction will be stopped if,
(guarantor) R/o 46/1084/39 Jagdlsh Pura Property Bounded A s :
amount due as aforesaid, with interest and costs (including the cost of the sale) are tendered to the 'Authorized Officer' or proof is given
15. Manner of obtaining request for resolution The Resolulion professional will share lhe request for Loha Mandl Agra PIN C O D E -282002. East: 6 Rasta feet wide. West: H/O Khem Chand.
to his satisfaction that the amount of such secured debt, interest and costs has been paid before the date of the auction.
plan, evaluation matrix, information resolulion plan/ evaluation Matrix/ Information 4. Smt. San geeta Devi S/o Shri Vijay Kumar North: H/O Madho Rao. South: H/O Ashok Kumar.
No officer or other person, having any duty to perform in connection with this sale shall, however, directly or indirectly bid for, acquire or
memorandum("IM")and further information Memorandum in the electronic form after verification (guarantor) R/o 46/872A, Kishor Pgra Civil
attempt to acquire any interest in the property sold. The sale shall be subject to the conditions prescribed in the Security Interest
of KYC, capacity lo invest, capability lo manage and Lines, Agra-282002.
(Enforcement) Rules, 2002 and to the following further conditions:
eligibility under section 29A of IBC, 2016 and pre-
Borrower(s) & G u a r a n t o r s ) 1- M/s. Rakesh "ALL THAT PART AND PARCEL OF THE IMMOVEABLE Rs.4,95,718.50 as On The E-auction will take place through portal https://e-auction.123done.in/eauction or 123done.in Mobile App (Android) on
qealification criteria,ifany approved by COC. MORTGAGED PROPERTY: -Immovable Property Bearing No.G- 29.02.2020 along with
Traders through its Proprietor Shri Rakesh 29-Oct-2020 (Auction Date) between 2.00 PM to 3.00 PM with limited extension of 10 minutes each.
Kumar S/o Shri Shreepal Singh (Borrower) 282, Trans Yamuna Colony, Phase II, Agra. Executed in Favour further cost, interest and
16. Lasl tale fer submission of resolulion plans 07.12AD2D Terms and Condition:
of Smt. Rambeti wife of Shri Shreepal Singh Details o f Title expenses etc.
R/o G-282, Trans Yamuna Colony, Phase II, 1. The particulars specified in the Schedule herein below have been stated to the best of the information of the undersigned, but the
Deed: Registered Sale Deed dated 03.11.2014 at Bah I No. 1,Zlld
17. Manner of submitting resolution plans lo To b e d e c i d e d b y c o m m i t t e e of creditors Agra. 2. ShrlHarlbhan S/o Shri Bhagwan No.8832 pages 283 to 304 serial no.16687 on 03.11.2014 at office undersigned shall not be answerable for any error, misstatement or omission in this proclamation. In the event of any dispute arising as
resolttion professional S i n g h (Guarantor) R/o S h y a m Nagar, off Sub Registrar, Etm ad pur, Agra. to the amount bid, or as to the bidder, the lot shall at once again be put up to auction subject to the discretion of Secured Creditor. 2. The
Naraich, Agra. 3. Smt. Rambeti W/o Shri Property Bounded A s : property shall not be sold below the Reserve Price. 3. Bid Increment Amount will be: Rs.10,000/- (Ten Thousand Only) 4. All the
18. Estimated dale for submission of resolulion To b e d e c i d e d
Shreepal Singh (Mortgager) R/o G-282, E a s t : Property No.G-290, West: 3.60 Mtr, wide Road, Bids submitted for the purchase of the property shall be accompanied by Earnest Money a s mentioned above by way of a
tlanlolhe Adjudi caling Authority for atproval
Trans Yamuna Colony, Phase II, Agra. North: Property No.G-281, South: Property No.A-283. Demand Draft favoring the "TATACAPITAL HOUSING FINANCE LTD." payable Delhi. Address: B-36,1st & 2nd Floor, Lajpat
19. Name and registration number of the Name: Sanlanu T Ray Nagar -Part 2, Above HDFC BankNew Delhi -110024.The Demand Drafts will be returned to the unsuccessful bidders after
Borrowers) & Guarantors) 1. Shri Shlv "ALL THAT PART AND PARCEL OF THE IMMOVEABLE Rs.14,78,568.98 as O n
tesoltlion professional I t Registration No.: IBBI/IPA-DD2/IP-NDD3BD/2D17-2D18/11D55 auction. 5. The highest bidder shall be declared as successful bidder provided always that he/she is legally qualified to bid and provided
Kumar S/o Sri Roop Singh (Borrower) R/o MORTGAGED PROPERTY: -Immovable property being House 31.102019 along with further
within Khasra No. 869 measuring 93.70 square meters, cost, interest and expenses further that the bid amount is not lessthan the reserve price. It shall be in the discretion of the 'Authorized Officer' to decline acceptance
20. Name, Address and e-email of lhe resolulion N a m e : S a n l a n u T R a y 38/NB/237/A/1, Sheetla Road Nagla Boodl, of the highest bid when the price offered appears so clearly inadequate as to make it inadvisable to do so. 6. For reasons recorded, it
Naglabhudl Mauza Mau Mustaqll, Tehsll and District Agra, etc.
professional, as registered with the Board A d d r e s s : 301, A W i n g , B S E L Tech Park, S e c l o r 3 D A , Agra 2. Sri Prakash Singh (Borrower) S/o Sri owned by you addressee no. 1 and 2, Sri Shlv Kumar Singh and shall be in the discretion of the 'Authorized Officer' to adjourn/discontinue the sale. 7. Inspection of the property can be done on
Opposite Vashi Railway Station, Vashi, T h a n e , Roop Singh R/o 38/NB/237/A/1, Sheetla Sri Prakash Singh both s o n s of Late Sri Roop Singh. Details of 15-Oct-2020 (Inspection Date) between 11 A.M. to 5.00 P.M. 8. The person declared as a successful bidder shall, immediately after
Navi Mumbai,Maharashlra -400705 Road Nagla Boodl, Agra . 3. Sri Manlsh Title Deed: Registered Sale Deed dated 17.07.1992 at Bahi No. I, such declaration, deposit twenty-five per cent of the amount of purchase money/bid which would include EMD amount to the
Sagar (Guarantor) S/o Sri Mahesh Chand Zild No. 7059 pages 215 to 226 serial no. 5804 at office off Sub 'Authorized Officer' within 24Hrs and in default of such deposit, the property shall forthwith be put to fresh auction/Sale by private treaty.
santanutrav(®.aaair solvency. c o m Reg Istrar (Second) at Tehsll and District Agra.
R/o 45/2A, Nal Abadl Nagla Ajeeta, Jagdlsh 9. In case the initial deposit is made as above, the balance amount of the purchase money payable shall be paid by the purchaser to the
Property Bounded A s :
21. Address and email to be used for corres M u m b a i Office: Pura Agra. E a s t : PropertyAsh ok, W e s t : Remaining Part of Seller,
'Authorized Officer' on or before the 15th day from the date of confirmation of the sale of the property, exclusive of such day, or if the 15th
301, A W i n g , B S E L T e c h Park, Sector 3 0 A , 0 p p o s i l e Vashi North: 15 feet wide road, South: Property Sri Chand, day be a Sunday or other holiday, then on the first office day after the 15th day. 10. In the event of default of any payment within the
pondence with the resolution professional
Railway Station, Vashi, T h a n e ,Navi M u m b a i , period mentioned above, the property shall be put to fresh auction/Sale by private treaty. The deposit including EMD shall stand
forfeited by TATACAPITAL HOUSING FINANCE LTD and the defaulting purchaser shall loseallclaims to theproperty.11. Detailsofany
Maharashtra -400705 BRANCH OFFICE : IBD, S A N J A Y PALCE, AGRA, (UP)
sacosIndiao(a)aaaInsolvencv.com encumbrances, known to the TATACAPITAL HOUSING FINANCE LTD, to which the property is liable: Nil. Claims, if any, which have
Borrower/ Mortgagor : M/s. Adhet Trading A Residential Property Bearing Corporation No : Nagar Nigam Rs.14,43,445.56 as O n been put forward to the property and any other known particulars bearing on its nature and value: Nil 12. For any other details or for
22. Further Details tre aeailable al or with http://www.insolvercyandbankruptcy.in 31.12.2019 with f u r t h e r procedure online training on e-auction the prospective bidders may contact the Service Provider, M/s Augeo Asset
Co., A t : 19/86 Peer Kalyani Agra (U.P), & Sh. No. Part of 19/86 (1/2 Part) Peer Kalyani Hariparvat Ward District
Krishna Murarl Sharma S/o Raghunandan Agra Uttar Pradesh, Having Area 33.025 Sq. Mater (In the Name interest and incidental Management Private Limited, Address 8th Floor, Ithum Tower A, Plot no. 40 Noida (U.P) 201301 (India) Mob.: 7428993227 (Mr.
23. Dale of publicaAon of Form G 26.09.1020 charges w.e.f. 01.01.2020
Prasad (Proprietor), A t : 19/86 Peer Kalyani of Krishna Murarl Sharma), Bahl No : 1, Jlld No: 10357, Pages : Debjyoti Roy) Email ID:Debjyoti.r@123done.in WEST) /Contact Person name Mr. Shadab Akhtar Mob.: 7428993234 Email ID:
Agra (U.P), & Sh. Sankalp Sharma S/o 215 to 262 at Serial No : 2415, Dated 20.07.2018 in the Office of Shadab.a@123done.in (North & East) /Contact Person name Mr. Durai Murugan S Mob .: 9841638849 Email ID:
Dale 26.09.2020 Santanu T Rav
Krisghna Murarl Sharma (Guarantor), At : Sub Registrar Agra-1 (First). Property Bounded A s : On the Duraimurugan.s@123done.in or Arijit Bhatt, Email id Arijit.bhatt@tatacapital.com Authorized Officer Mobile No 9029073280.
Resolulion Professional
Place- M u m b a i
IBBI/IPA-002/IP-N00360/2017-2018/11055 19/86 Peer Kalyani Agra (U.P), North by : Property of Sh. Mohan Lai ON the South by : Mandir Please send your query on WhatsApp Number 9029073280.13. Please refer to the below link provided in secured creditor's
3 0 1 , A W i n g , B S E L Tech Park, S e c t o r 30 A , Sundar Lai On the East by : Property of Chaman Lai On the West website www.https://e-auction.123done.in/eauctionfor the above details.
O p p o s i t e Vashi R a i l w a y Station, Vashi, T h a n e , by: Gali & Exit 10 m Wide Smt. Minto Sharma
Navi M u m b a i , M a h a r a s h t r a , 4 0 0 7 0 5
DATE : 26-09-2020, Sd/- Mr. A R I J I T BHATT (Mob. No. 9029073280)
For S a c o s I n d i g o Private L i m i t e d DATE:.23-09-2020 PLACE : AGRA Sd/- AUTHORISED OFFICER, PUNJAB & SIND BANK P L A C E : DELHI Authorised Officer For TATA CAPITAL HOUSING FINANCE LIMITED
16
>
NEW DELHI | 26 SEPTEMBER 2020 1
Weekend Business Standard NEW DELHI | 26 S E P T E M B E R , 2 0 2 0 POL

SUN PHARMACEUTICAL INDUSTRIES LIMITED

Corporate Identity Number (CIN): L 2 4 2 3 0 G J 1 9 9 3 P L C 0 1 9 0 5 0
Registered Office: Sun Pharma Advanced Research Centre (SPARC), Tandalja, Vadodara - 390 012, Gujarat, India.
Corporate Office: SUN House, CTS No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai - 400 063, Maharashtra, India.
Phone: +91 22 4324 4324 | Fax: +91 22 4324 4343 | E-mail ID: secretarial@sunpharma.com | Website: www.sunpharma.com
Contact Persons: Mr. Ashok I Bhuta (Compliance Officer) | Mr. Sunil Ajmera (Company Secretary & Compliance Officer)

POST BUY-BACK PUBLIC ANNOUNCEMENT FOR THE ATTENTION OF EQUITY SHAREHOLDERS/BENEFICIAL OWNERS
OF EQUITY SHARES OF SUN PHARMACEUTICAL INDUSTRIES LIMITED ("Company")
This Public Announcement ("Post Buy-back Public Announcement") is released in compliance with the provisions of Regulation 24(vi) of the Securities and Exchange Board
of India (Buy-Back of Securities) Regulations, 2018, as amended ("Buy-back Regulations"). This Post Buy-back Public Announcement should be read in conjunction with the
public announcement dated March 18,2020 ("Public Announcement") read with Corrigendum to Public Announcement dated March 24,2020 ("Corrigendum"). The terms
used but not defined in this Post Buy-back Public Announcement shall have the same meaning as assigned to such terms in the Public Announcement read with the Corrigendum.
1. THE BUY-BACK

SPEAKS 1.1. The Board of Directors of Sun Pharmaceutical Industries Limited (hereinafter referred to as the "Board"), at its meeting held on March 17, 2020 ("Board

cl~ Meeting") had, pursuant to the provisions of Article 9 of Articles of Association of the Company and Sections 68,69 and 70 and all other applicable provisions
of the Companies Act, 2013 ("Act") and applicable rules made thereunder and in compliance with the Buy-back Regulations and subject to such other approvals
permissions and sanctions as may be necessary, approved the buy-back of fully paid up equity shares by the Company having face value of 71/- (Indian Rupee
One Only) each ("Equity Share(s)") from open market through stock exchange mechanism as prescribed under the Buy-back Regulations from the equity
shareholders / beneficial owners of the Equity Shares of the Company other than the promoter, members of promoter group and persons acting in concert of the
Company ("Promoter and Persons in Control"), at a price not exceeding 7425/- (Indian Rupees Four Hundred Twenty Five Only) per Equity Share ("Maximum
Buy-back Price") payable in cash for an aggregate amount not exceeding 71700,00,00,000/- (Indian Rupees One Thousand Seven Hundred Crores Only)
excluding transaction costs viz. brokerage, advisor's fees, intermediaries fees, public announcement publication fees, filling fees, turnover charges, applicable
taxes such as securities transaction tax, goods and services fax, income tax, stamp duty and other incidental and related expenses ("Transaction Costs")
("Maximum Buy-back Size").
1.2. The Buy-back commenced on Thursday, March 26,2020 and closed on Friday, September 25,2020 (both days inclusive).
1.3. Till the date of closure of the Buy-back, the Company has bought back Nil Equity Shares. No Equity Shares have been bought back under the Buy-back as the

Liked. volume weighted average market price of Equity Shares of the Company during the buy-back period was higher than the Maximum Buy-back Price.
2. DETAILS OF BUY-BACK
Particulars
Number of Equity Shares bought back
Price at which Equity Shares were bought back
Nil
Not Applicable
Details

Shared. Total Amount invested in Buy-back (excluding Transaction Costs)

Details of Equity Shareholders from whom Equity Shares exceeding one
percent of total Equity Shares were bought back
3. CAPITAL STRUCTURE AND SHAREHOLDING PATTERN
3.1. The pre and post Buy-back Capital structure of the Company is as under:
Nil
Not Applicable as the Buy-back was from Open Market through Stock Exchange
Mechanism

(7 in Crores)

Commented Authorized Share Capital

Particulars

599,00,00,000 Equity Shares of 71/- each

1,00,000 Preference Shares of 7100/- each
Pre Buy-back

599.00
1.00
Post Buy-back

599.00
1.00

Respected/'
Total 600.00 600.00
Issued, subscribed and fully paid up:
239,93,34,970 Equity Shares of 71/- each 239.93 239.93
Total 239.93 239.93
3.2. The shareholding pattern of the Company, pre and post Buy-back, is as under:
Pre Buy-back* Post Buy -back
Particulars Number of Equity % of the equity Number of Equity % of the equity
Shares held share capital Shares held share capital
(A) Promoter and Promoter Group 1,31,21,34,535 54.69 1,31,21,34,535 54.69
(B) Public Shareholders
Institutions 77,44,34,761 32.28
Central Government / State Government(s) / President of India 6,430 0.00
1,08,72,00,435 45.31
Non-Institutions 31,27,59,244 13.03
Sub-Total 1,08,72,00,435 45.31
(C) Non Promoter - Non Public Nil Nil Nil Nil
Total 2,39,93,34,970 100.00 2,39,93,34,970 100.00
# As on March 17,2020 viz. the date of Board Meeting approving the Buy-back
4. MANAGER TO THE BUY-BACK
VIVRO FINANCIAL SERVICES PRIVATE LIMITED
607,608 Marathon Icon, Opp. Peninsula Corporate Park, Off Ganpatrao Kadam Marg,

VIVRO Veer Santaji Lane, Lower Parel, Mumbai - 400 013, Maharashtra, India.
Contact Person: Mr. Harish Patel / Mr. Bhargav Parekh
Email: investors@vivro.net | Website: www.vivro.net
Tel: +91 22 6666 8040/41/42 | Fax: +91 22 6666 8047
SEBI Registration Number: INM000010122 | Validity: Permanent
CIN: U67120GJ1996PTC029182
LEGAL ADVISOR TO THE COMPANY
Bathiya Legal
909, Hubtown Solaris, N. S. Phadke Road, Near East - West Flyover,
Andheri (East), Mumbai - 400 069, Maharashtra, India. | Tel: +91 22 6133 8050
DIRECTOR'S RESPONSIBILITY
As per Regulation 24(i)(a) of the Buy-back Regulations, the Board accepts responsibility for the information contained in this Post Buy-back Public Announcement
and confirms that it is true, factual and does not contain any misleading information.
For and on behalf of the Board of Directors of Sun Pharmaceutical Industries Limited

Sd/- Sd/- Sd/-

Dilip S. Shanghvi Sailesh T. Desai Sunil R. Ajmera
Managing Director Whole-time Director Company Secretary
(DIN: 00005588) (DIN: 00005443) (Membership Number: A12176)
Place: Mumbai Place: Vadodara Place: Mumbai
Date: September 25,2020
Jilg

& SPEAKS

T U e , A v 4 - o f W L v ,

b o A i r J l i r o o M e J l r f i o r t .

Insight Out

To book your copy, call 0 2 2 - 4 0 2 7 5 4 3 2

or SMS reachbs to 57575 or email us at order@bsmail.in
Insight Out
To book your copy, call 022 4027 5432 or SMS r e a c h b s to 57575 or email us at order@bsmail.in
bsindia f J bsindia www.business-standard.com
| bsindia Q bsindia www.business-standard.com
18
.
NEW DELHI | 26 SEPTEMBER 2020
<

New regulator brings hope S P BALASUBRAHMANYAM

4 JUNE 1946 – 25 SEPTEMBER 2020

National Medical Commission replaces Medical Council of India that drew flak for corruption
VINAY UMARJI education towards a transpar- Entrance Test.
A youthful voice
that sang across
Ahmedabad, 25 September ent, qualitative and accountable Further, the NMC will make
system. guidelines for a new cadre of

C
ontrary to its predecessor, “The basic change that has non-MBBS mid-level health
the newly constituted happened is that the regulator service providers such as nurs-

National Medical
Commission (NMC) promises
greater autonomy and account-
ability in medical education, say
stakeholders.
After Parliament passed the
NMC Act 2019 last year, the new
commission for medical edu-
languages
is now ‘selected’ on merit, as es and pharmacists with limit-
opposed to an ‘elected’ regula- ed rights to dispense medi-
tor. Men and women with cines. The ministry has termed
impeccable integrity, profes- them “community health
sionalism, experience and providers”.
stature have been now placed at S C Sharma, former head of T E NARASIMHAN
the helm to steer the medical ear-nose-throat (ENT) depart- Chennai, 25 September
education reforms further,” ment at AIIMS Delhi, has been

cation along with four
autonomous boards was con-
stituted with effect from Friday.
With this, the Indian Medical
Council (IMC) Act, 1956, stands
repealed and replaced by NMC
Act 2019. Along with NMC, the
four Autonomous Boards of UG
and PG Medical Education
Boards, Medical Assessment
and Rating Board, and Ethics
and Medical Registration
Board have also been constitut-
ed to help NMC in day-to-day
functioning.
“With NMC, every aspect
and vertical of medical educa-
tion now comes under one roof.
The erstwhile MCI inspections
have also been done away with.
There are now clearer norms for
setting up new medical colleges
with reduced bureaucracy. This
will usher in greater autonomy
and accountability,” said
Hemant Mathur, dean, aca-
demics, in Faculty of Medicine
at Maharaja Sayajirao University
of Baroda.
The Ministry of Health and
Family Welfare said that the his-
toric reform will steer medical
> BOOK REVIEW N N N
it added.
According to the ministry,
MBBS seats has increased over
the last six years by 48 per cent
from around 54,000 in 2014 to
80,000 in 2020. The postgradu-
ate (PG) seats have increased by
79 per cent from 24,000 to
54,000 in the same duration.
The MCI had drawn flak for
corruption with the medical
education fraternity facing fre-
quent inspections over contin-
uing licence. This has been
done away under the NMC. The
education industry believes the
new commission will only facil-
itate setting up of more credi-
ble colleges.
“This will not only bring the
entire medical education under
one umbrella but also pave way
for collaborations with global
institutions in education and
research,” said Pratik Patel,
dean, NHL Medical College.
The key functions of NMC
will be further streamlining reg-
ulations, rating of institutions,
human resource assessment
and focus on research.
Provisions under the new
Fresh guard
>National Medical Commission
replaces the Medical Council
of India
>Unlike MCI, NMC ends
inspections of college renewals
>Final year MBBS exam will also
act as entrance test for PG and
foreign graduates
>New cadre of non-MBBS
council include fee regulation
on 50 per cent seats in private
medical colleges and deemed
universities. Industry experts
believe this could make private
medical education cheaper.
Also, the final year MBBS
exam now carries three purpos-
es. Apart from being the licensi-
ate exam for MBBS graduates to
issue them licences for practis-
ing a country of four million people to the
final of the World Cup. Modric writes
about it all with a childish innocence, even
service providers
>Non-MBBS service providers
to have limited medicine
dispensing rights
>MBBS seats grew by 48%
from 54,000 in 2014 to
80,000 in 2020
>PG seats grew by 79% from
24,000 (2014) to 54,000 (2020)
ing medicine, the final year
exam will now act as an entrance
exam for PG education and for
foreign graduates. The entrance
test, christened the National
Exit Test (NEXT), will also be
applicable to institutes of
national importance such as the
All India Institute of Medical
Sciences (AIIMS), besides the
National Eligibility cum
dictably bolshie Daniel Levy, the Spurs
Chairman. There are also bits about how
Mourinho once almost made Cristiano
selected as NMC chairperson for
three years. The council will also
have 10 ex-officio members that
include presidents of the four
autonomous boards; Jagat Ram,
director Postgraduate Institute
of Medical Education and
Research, Chandigarh; Rajendra
A Badwe, Tata Memorial
Hospital, Mumbai; and Surekha
Kishore, executive director,
AIIMS, Gorakhpur.
Marred with corruption
charges, the MCI was replaced
in 2018 with a Board of
Governors, chaired by V K Paul,
member (health), Niti Aayog.
“The NMC will carry forward the
reforms initiated by the Board
of Governors under Dr V K Paul,”
the ministry said on Friday.
The NMC will work on
modalities of the common final
year exam after MBBS or NEXT
to serve for both registration and
PG entrance; prepare guidelines
for fee regulation by private
medical colleges; and develop
standards for community health
providers to serve in primary
healthcare with limited practis-
ing licence.
V
eteran singer S P
Balasubrahmanyam,
popularly called SPB, died
in a Chennai hospital today after
battling Covid-19 for over a
month. He was 74. He was admit-
ted to MGM Healthcare on
August 5 and was shifted to the
intensive care unit eight days lat-
er as his condition deteriorated.
Though he tested negative for the
virus in early September, he
remained on life support treat-
ment. The hospital said in a state-
ment that he died of a cardio-res-
piratory arrest.
Balasubrahmanyam’s was a
voice that transcended the barri-
ers of language and had such a
range that it worked on actors ac-
ross regions and generations.
Over 50 years, he gave more than
40,000 songs in 16 languages — a
feat that earned him a place in
the Guinness Book for recording the highest number of songs by a singer.
He also once recorded 21 songs in 12 hours for Kannada composer Upendra
Kumar; and 19 Tamil and 16 Hindi songs in a day. And in the song, “Mannil Indha
Kaadhal” for the Tamil film Keladi Kanmani (1990), he practically didn’t stop for a
breath as he sang two stanzas.
But numbers aside, his was a voice that went straight to your heart.
Balasubrahmanyam began his career as a playback singer in Tamil and Telugu
cinema, and later went on to make a mark in Bollywood, becoming the first crossover
voice to gain success of this scale in Bollywood.
His voice first travelled to Bollywood in 1981, accompanying another debut —
southern actor Kamal Haasan’s. The film was Ek Duuje Ke Liye, a tragic love story
between a Tamil man (Haasan) and a north Indian woman (Rati Agnihotri). The
duets with Lata Mangeshkar — “Tere mere beech mein”, “Hum bane tum bane” —
became instant hits and Balasubrahmanyam received a National Film Award for best

Pitch perfect if that comes at the cost of the book seem-

Luka Modric’s autobiography reveals a
humble man behind the understated genius
DHRUV MUNJAL
ing a touch puerile in its construction. But
then again, this makes up a big chunk of
the Modric phenomenon — he brings sim-
plicity and humility to everything he does.
As someone who’s inherently smart
and good at absorbing information,
Modric’s memory is exceptional. He talks
It turns out that, when someone tells them about war, living in exile, being turned
something they don’t want to hear, they away by clubs because of his size, among
Ronaldo cry, and why Carlo Ancelotti is
every player’s dream manager.
And if you’ve ever wondered how
Zinedine Zidane has been able to achieve
male playback singer. This was his second National Film Award; the first one was for
Sankarabharanam (1980), often cited as one of the
finest Telugu films made. Not many know that he was
also a voiceover artist for Hassan, whenever the lat-
such ridiculous success as coach despite
possessing no conventional managerial
ter’s Tamil movies were dubbed in Telugu. And that
he himself acted in a few movies.
traits, Modric has an explanation: the
Frenchman is a great motivator and his
It wasn’t just the success of Hasaan’s Bollywood
debut that he had a part to play in. Towards the end
tactics are straightforward, things his Real of the 1980s came another big-ticket film, Maine
Madrid players respond rather well to. Pyar Kiya that launched the career of another big-

C
hances are that if you’re a sucker
for football intelligence, then Luka
Modric is your guy. Intelligence is
that one quality valued by football intel-
lectuals more than anything else. Great
coaches, from Johan Cruyff to Pep
Guardiola, have built entire empires
around it. In fact, when Barcelona appoint-
ed Cruyff as manager, one of the first
things he did was to do away with the rule
that a midfielder must be at least six feet
tall to get into La Masia, the club’s famed
youth academy. Instead of pure physical-
ity, the Dutchman demanded something
completely different from his ideal mid-
fielder: positional sense, strong technique
and, above all, a preternaturally sharp foot-
balling brain.
Modric would have flourished under
Cruyff. In a game that is now inhabited by
tactical hyperbole, Modric is the simplifi-
er, providing much-needed clarity of
thought, running the game on his own
terms, in his own style. He sees passes and
spots spaces like no one else, exhibiting the
expert control of a circus juggler and the
unlikely physical toughness of a middle-
aged gym dad. But above all, he does all
this with a casual finesse, a player giving
the impression that he is simply doing his
job — the welcome anomaly in a sport
drunk on the concept of superstardom.
Naturally then, while talking about the
ever-demanding José Mourinho in his
recently released autobiography, he writes:
“Today, players are sensitive to criticism.
get offended, like true prima donnas.” other things, in great detail, opening up on All of that, though, doesn’t do enough ticket star, Salman Khan. Balasubrahmanyam’s voice
Modric’s backstory — his difficult beginnings at to mitigate a problem common to many You have been that had worked well on Hasaan, who was in any
or some part of it — has such length for perhaps the football autobiographies: the annoying my voice for many case playing a young Tamil man, surprisingly also
become common knowl- first time. “My heart breaks tendency to reduce a book to a series of years... your perfectly suited the lanky, dreamy-eyed Khan.
edge since his exploits in every time I think of (my match reports. Modric does a fair bit of voice and your That was the magic of his deep, feel-good voice.
the 2018 World Cup, grandfather) dying, literally that, sometimes failing to give enough memories will live His collaboration with musician A R Rahman,
which played a huge part on his doorstep,” he says, insight into what goes behind in the with me forever right from Rahman’s debut film, Roja (1992), also
in him winning the Ballon adding that when he was 10 glossy universe of the modern footballer RAJINIKANTH resulted in some memorable songs. The Chennai
d’Or. Modric was only six and his third-grade teacher that is usually cut off from the casual Actor Express (2013) title song also had his voice.
when his grandfather, asked the class to write an fan. More depth into how he thinks and Balasubrahmanyam collected six National Film
Luka Sr, was gunned essay on a topic that had had views the game would also have been Awards in his lifetime. His last song, “Bharath
down by Chetnik forces at an impact on them, he wrote welcome, especially given that Modric Bhoomi”, composed by Ilaiyaraaja as a tribute to
the outbreak of the about his grandpa’s death has always operated at a different sport- Covid warriors, was unveiled as recently as May 30.
Croatian War of Indepen- and guns and grenades. ing plane to his peers. Born into an orthodox Telugu Brahmin family in
dence. The family had to The most startling part There are some odd mentions, too. Andhra Pradesh, Balasubrahmanyam was the second
flee home, spending time here, however, is not what That Modri· is a big basketball fan is well son in a family of eight children. His father, S P
in refugee camps and LUKA MODRIC: MY Modric endured, but how he known, but him describing former Miami Sambamurthy, was a well-known exponent of the
cramped hotels. Modric’s AUTOBIOGRAPHY feels no bitterness at what Heat star Dwayne Wade — someone traditional art of Harikatha.
football upbringing began Author: Luka Modric happened. Modric never almost his age — as “one of his idols” The turning point for him as a singer came in
at an academy in the (with Robert hints at hate or revenge in seems a bit bizarre. Really sad to hear 1964, when he won the first prize in a competition
coastal city of Zadar, amid Matteoni) the book, instead stressing Expectedly, the book lifts when Modric about the passing organised by Chennai-based Telugu Cultural
the background noise of Publisher: that this was something that talks about Croatia’s World Cup adventu- away of such a Organisation. Music director S P Kodandapani
relentless enemy gunfire. Bloomsbury Sport war made him go through. re, the crippling disappointment of which great yet simple spotted him and introduced him as a playback
It was a childhood, he Personal hardship aside, is evident in Modric’s writing. Modric well person. He was my singer in the Telugu film Sri Sri Sri Maryada
Price: ~315 (Kindle)
writes, which toughened the book comes with some understands the value of opportunity, first sponsor! He Ramanna (1967).
him up, but it was also Pages: 304 enjoyable football stories as because he grew up in a land where there sponsored our “Paadum Nila” (Singing Moon) – that’s what his
one that makes you won- well. A particularly good one was very little. Croatia may never go that team Chennai Colts fans came to call him. “His was the breeze-like voice
der how Modric was able to make it as a involves Chelsea owner Roman far in a World Cup again, and that’s why in the national of A M Raja, with the softness of P B Srinivas and the
professional footballer at all, let alone play Abramovich, who Modric met at the oli- the loss to France hurts Modric even today. team championship effortlessness of Mohammed Rafi,” said film music
for arguably the most famous club in the garch’s yacht in Nice at the end of the But Modric, as his autobiography reveals, in 1983. One of the historian Vamanan.
world. 2010-11 season. A secret rendezvous — is also incredibly positive, a man con- nicest persons I He sang for nearly four generations of Tamil
The book, co-authored by journalist enlivened by the fact that Abramovich’s stantly looking to improve. That will, per- have met artistes including M G Ramachandran (MGR), Sivaji
Robert Matteoni, covers a lot of ground: security detail is perhaps only next to haps, be his defining legacy on the pitch as VISWANATHAN ANAND Ganesan and Rajinikanth, besides Haasan.
from the lows of toiling away in the bad- Vladimir Putin’s — the two discussed a well: a player who spent much his life mak- Former world chess It was a voice that didn’t age. And it will continue
lands of the Bosnian league to the highs of possible switch from Tottenham Hotspur, ing the best better, but in the process, champion to linger through the rich musical repository he has
winning multiple European Cups and tak- a move that was blocked by the pre- became the best himself. left behind.

LUNCH WITH BS > MAHUA MOITRA | LOK SABHA MP, KRISHNANAGAR, WEST BENGAL gain the trust of rural communities, yet
couldn’t shake off the derogatory tag of
"Memsahib" bestowed upon her by her
the grassroots. But that’s where she
continues to thrive. Even now, her
phone buzzes constantly and she

Voice of dissent
disappointed in the average Indian that
has voted the Bharatiya Janata Party,
“with its divisive politics and
propaganda”, into power. Her
plainspeak is refreshing. “Some call it
Moitra tells Geetanjali Krishna how her image fearless, but I just speak straight from
my heart,” she says. “The other day, a
transformed from ‘memsahib’ to demon slayer senior journalist asked me what it was
and where her feisty spirit comes from like to be a woman in politics. I don’t
think my gender comes into the
equation at all. I’m simply a
opponents and the press. “But I
persevered with rural politics,” she
recalls. “After all, I hadn’t joined politics
to represent the elite.”
After years of grassroots work, when
she felt she’d earned her spurs, Moitra
was offered the chance to run for the
assembly elections from Karimpur in
West Bengal in 2016. This time, too,
naysayers called it political suicide, and
they had a point. “We
micromanages the pandemic relief
effort in Krishnanagar.
However, public service is getting
harder by the day. In the wake of the
Covid-19 pandemic, the government
has suspended Members of Parliament
Local Area Development Scheme
(MPLADS) for two years. “The
government’s spending thousands of
crores on redeveloping the Central
Vista but can’t spare ~5

I
n 2019, when she stood in the Lok
Sabha and delivered one of the most
memorable maiden speeches of
recent times in its hallowed male-
dominated portals, Mahua Moitra broke
much more than the social media — she
shattered the notion that dissent in the
age of majoritarianism is futile.
In the past year, the feisty member of
Parliament from West Bengal’s
Krishnanagar constituency has raised
critical concerns about the functioning
of the central government, undeterred
by the multiple stonewalls blocking her
path. From the linking of bank accounts
with Aadhaar cards in the Supreme
Court (it directed her to take the matter
up in Parliament and dismissed her
case) to her present opposition to the
Jor Bagh to have omelettes, as dictated politician in politics.” hadn’t won a seat there crore each to MPs for
by her wellness routine. Elegant in a Enough has been written about how since 1977,” she discloses. To “I believe I’ve been development work,”
blue Bengal cotton sari, Moitra ushers Moitra, an investment banker with JP canvass as well as raise the born to be in this she rues.
me to the dining room, talking nineteen Morgan in London, entered politics in morale of the party cadre, moment today,” What motivates her to
to a dozen about the parliamentary 2009, initially with the Congress and Moitra walked in the stifling she says, “born to be an outsider in a
proceedings this morning. Our hostess then, following a chance encounter heat to all 259 booths. question the ruling majoritarian regime, I
has popped a bottle of champagne to with Mamata Banerjee on a flight, “When I won against the dispensation.” Also, ask? It’s evident that she’s
toast Moitra’s return to Delhi. Moitra with the Trinamool Congress. The powerful CPI (M) candidate, rural politics is been asked this question
seems oblivious to it all, her words party has a well-earned reputation my image was transformed empowering before for the answer
ricocheting like bullets. for being rabble rousing, and from ‘Memsahib’ to a comes pat. “I believe I’ve
Today’s session has disappointed political pundits say it has too demon slayer,” she says. been born to be in this moment today,”
her. “The government doesn’t listen to regional a profile to make a dent at My champagne flute is refilled at she says, “born to question the ruling
us; with their brute majority they don’t the national level. Moitra, this appropriate juncture. I take a dispensation.” Also, rural politics is
need to!” she huffs. “And today, the expectedly, has nothing but forkful of the vegetable omelette and empowering and rewarding: “The fruits
Question Hour, which gave regional praise for it. “In that first ask Moitra about her maiden speech in of one’s labour are that much more
parliamentarians like me the rare meeting, I realised that not only Parliament, which ruffled feathers and visible in rural India,” she says.
opportunity to voice our view was was Mamata Banerjee fighting won hearts alike. “Many commented it Lunch has gone on longer than
scrapped as well!” the good fight, she was the only didn’t sound like a maiden speech,” she intended and it’s time for Moitra’s next
Democracy, she says, is being leader under whom I’d be free says. “But I’d been preparing my entire meeting. She leaves unaccompanied in a
ILLUSTRATION: BINAY SINHA

cancellation of the Question Hour in
Parliament, Moitra has been
challenging all.
I’m looking forward to a lunch with
her after she’s attended the first day of
the Parliament’s monsoon session. She’s
invited me to a friend’s house in Delhi’s
throttled in Parliament every day. “If to fearlessly speak my mind.” life for it.” private car, and I am reminded of a
you ask questions in court, its Naysayers predicted that Born into an affluent family of tea certain actor whom she recently
contempt,” Moitra says. “If you ask Moitra would prove to be too estate owners, Moitra says she always criticised for accepting government
questions in society, its sedition. And delicate for grassroots wanted to be in public service. At 30, security. I muse that if it weren’t for a
now you can’t ask questions in politics. And indeed, her after years of studying and working handful of people like her, there would
Parliament either.” early years were not easy. abroad, when she joined politics, people be no dissenting voices in mainstream
Unsurprisingly, she’s equally Moitra worked hard to were surprised at her decision to work at political discourse today.