ECONOMY PUBLIC AFFAIRS MUMBAI TUESDAY, 10 JULY 2018 … · ZBNF expert Subhash Palekar was also...
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16 ECONOMY & PUBLIC AFFAIRS MUMBAI I TUESDAY, 10 JULY 2018 Business Standard German cars, American steak early victims of trade war NITI Aayogwants states to adopt zero-budget natural farming sentatives from agriculture universities, institutes, farm- ers and practitioners. Speaking on the occasion, minister of state for agricul- ture and farmers welfare Gajendra Singh Shekhawat said, "We are seeing side- effects of chemicals and fer- tilisers used in crops." ZBNF expert Subhash Palekar was also present at the event. He said that the basic concept of ZBNF, which is different from organic farming, is to ensure that profit from supplementary crops is enough to cover the cost of production of the main crop. He said an average domes- tic Indian cow is sufficient to generate chemical-free farm- ing in 30 acres ofland by using a concoction of cow dung and urine, among others. AGENCIES New Delhi, 9 July N ITI Aayog vice-chair- man Rajiv Kumar on Monday made a case for promoting zero-budget natural farming (ZBNF) in states, saying it would help double farmers' income by 2022. Aayog member Ramesh Chand, who is an expert in agriculture, said that such methods could be scaled up nationally only after they have been scientifically proven to be correct and there is proper manual for these. Under ZBNF, neither fertilis- er nor pesticide is used and only 10 per cent of water is to be utilised for irrigation as compared to traditional farm- ing techniques. Rajiv Kumar said that Around five million farmers are working on zero-budget farming in different states "Around five million farmers are working on zero- budget farming in different states," he said, adding that not only does it have poten- tial for India but it can also be put to global use. The NITI Aayog vice- chairman was addressing a press conference after meet- ing principal secretaries (agriculture) of states, repre- states can promote ZBNF under the two farm sector schemes - Paramparagat Krishi Vikas Yojana and Rashtriya Krishi Vikas Yojana. BLOOMBERG 9July WHAT'S IN A TRADE GAP Items that contribute the most to America's trade deficit with China Figures in Ibn China's retaliatory tariffs on US goods struck just as one of its biggest meat importers was rushing a shipment from California through Shanghai customs. Now Suzhou Huadong Foods Ltd is saddled with a stack of un affordable American steak. Only three containers of frozen produce including prime rib and pork loin came through before the new levy slapped as much as 500,000 yuan ($75,000) on each of the remaining half-dozen crates, according to Gong Peng, the importer's general manager. "We have no choice. We have to eat the costs," Gong said in an interview. "We are guaranteed to dramatically lower our purchases of meat from American ranchers." Triggering what China calls "the largest trade war in economic history," the US on July 6 imposed a 25 per cent duty on $34 billion of Chinese imports. Beijing immediately respond- ed with tariffs on USsoybeans, meat and vehicles. Suzhou Huadong, which supplies supermarkets such asWalmart's Sam's Club in China, isjust one ofthe early victims. For automobiles and whiskey makers to companies along the complex global supply chain that defmes modern manufactur- ing, it is a moment of reckoning as they grapple with higher costs and whiplashes from some of the earlier business decisions. The ability oftariff-hit companies to weather the conflict may partly depend on the amount of stock they managed to import before higher levies kicked in. But once those supplies run down, they'll have to absorb the tariffs or pass them on to customers. Take Ford Motor and Tesla; both automakers armounced price cuts in China only weeks ago, making their Lincoln and Model S sedans with- in the reach of more consumers after China low- ered tariffs on allforeign vehicle imports to 15per cent. Starting July 6, those same models - if they are made in the US - are subject to a 40 per cent levy. Tesla raised prices for its Model S and Model X by 150,000 yuan to 250,000 yuan after the additional tariffs, according to a sales repre- sentative. That would take the retail price of a 134.9,==:-1 96.71 31.6_ 25.3. 14.31 14.11 Electronics Machinery Furniture Toys, sports eq uipment Apparel Footwear Report: 9th city gasdistribution bidding may fetch f700 bn Agriculture scientists don't want bureaucrat as job panel head Note: Figures represent imports from China minus exports to China,2017 Source: USCommerce Department In a letter to the PM,they sayappointing a bureaucrat will lead to regular interference in the processoftalent search The ninth round of the city gas distribution (CGD)licen- ces auction, beginning this week, may see funds worth ~700 billion from winning bidders, which is four times the cumulative tl50-180 bil- lion invested till fiscal year 2018,said areport. "The ninth round of auction of city gas distribution licences is set to alter the industry landscape with the government expect- ing investments of VOO bil- lion from winning bidders, or four times more than what was invested so far,"Crisilsaid on Monday. On offer are 86 geographical areas in 174dis- tricts covering 29 per cent of the population, compared with a cumulative 56 geo- graphical areas awarded in the previous eight rounds in the past 10 years. The new geo- graphical areas on offer incl- ude Chennai, Coimbatore, Visakhapatnam, Aurangabad and Bhopal, which have good demand potential. "We expect the ninth rou- nd to receive way better res- ponse because of revised bid- ding norms, and the push from Centre through favou- rable policies," Crisilsaid, and pointed out the new norms likemarketing exclusivityperi- od of eight years which is extendable by two more years, compared with years earlier, tariff floorsto discourage unvi- able bids, removal of addi- tional bid bond requirement and evaluation of bids based on higher infrastructure cre- ation as wirmable factors. PTI Model Sto asmuch as1.47million yuan. Ford said it will refrain - at least for now - from raising prices. The top-of-the-end Lincoln Navigator model costs 1.16million yuan. BMW and Daimler also face higher costs because they import luxury models to China from their USassembly plants. BMWsays itwon't be able to absorb the higher levies completely and is calculating the necessary price increases. Dai- mler declined to comment beyond saying it aims to offer competitive conditions to buyers. President Donald Trump is eyeing tariffs on another $16 billion of Chinese goods, and he indicated last week that the final total could surpass $500 billion. Trump's course of action only means more US companies will lose out in China as the country opens up, the People's Daily, the Communist Party's flagship newspa- per, said in a commentary on Monday. The zero-sum mentality of US policymakers will not only hit economic and trade cooperation between China and the US, but also brings fur- ther uncertainty to the world economy, it said. With neither side backing down, the prospect of a tax on almost every China-made product entering the U.S. and reprisals by China means many more businesses could come in the cross hairs. "Businesses hate uncertainty," said Jacob Parker, vice president of China operations at the US-China Business Council. "If you are uncertain, you don't invest; ifyou are uncertain, you don't hire. Companies don't know how big this may get, or how it will end." ASRB also conducts an All- India level Preliminary examination for recruitment of Scientists every year in 55 different disciplines of agri- cultural sciences. The scientists claimed that so far, ASRB has recruit- ed over 95,000 personnel in different categories and so far it has not lost a single case against any of its recommen- dations' which speaks vol- umes of the transparency in its functioning. ASRB has a chairman and two full-time members appointed from among the scientific community. However, since the last few years, it is operating without a full-time chairman and one member. "Since the last 45 years, never has a bureaucrat head- ed ASRB. So, we feel that someone who doesn't know science and is not aware of the nuances of agriculture sciences should not be allowed to judge scientists," Singh added. He said the ICAR Governing Council and even a government appointed committee under former sec- retary of Directorate of Agricultural Research (DARE), R S Paroda to review the functioning of ASRB under hasn't said anything SANJEEB MUI(HERJEE New Delhi, 9 July The country's top agriculture scientists have written to Prime Minister Narendra Modi opposing any move to appoint a bureaucrat as chairman of the Agricultural Scientist Recruitment Board (ASRB). In the letter written last month, scientists under the National Academy of Agricu- ltural Sciences (NAAS) said that any move to appoint a bureaucrat instead of a career scientist as head of the ASRB will end its autonomy and lead to interference in talent search. "It will be disastrous for agriculture sciences and impact research," said Panjab Singh, President of National Academy of Agricultural Sciences (NAAS) and chan- cellor of RLB Central Agriculture University, Jhansi. The ASRB is the main body for recruitment of agri- culture scientists in the coun- try. Constituted in 1973, the ASRB has been instrumental in appointment of scientists in all major agriculture insti- tutes and universities in the country and also to build a cadre offarm scientists. The scientists claimed that so far, ASRB has recruited over 95,000 personnel in different categories and it has not lost a single case against any of its recommendations, which speaks volumes of the transparency in its functioning about changing the compo- sition of the ASRB. Instead, it asked for strengthening the recruit- ment board so as to enable selection of high quality indi- viduals for agriculture research. Noted scientist Deepak Pental said that entire con- cept looks flawed, adding how can someone even think of appointing a non-scientist to head a scientists' recruit- mentpanel. He said a career bureau- crat, who even has a knowl- edge of science, won't be able to do justice as agricultural sciences is a specialised field of branches and sub-divi- sions like animal husbandry, among others. "We want to appeal to the government and the people to save agriculture sciences in India because science is the bedrock of the govern- ment's aim to double farm- ers income by 2022," RB Singh, former chairman of the ASRB said. The government hasn't responded to the allegations and did not confirm whether there is move to change the composition of the ASRB. PTI added quoting unnamed sources that a Cabinet proposal has been moved to widen the eligibility criteria for appointment of Chairman of the Agricultural Scientists Recruitment Board (ASRB) as part of the govern- ment plan to reform the Board. According to the Union Agriculture Ministry's pro- posal, both agri-scientists and even lAS officers can apply for the post of ASRB chairman, they added. Heavy rain disrupts life in Mumbai; road, rail traffic hit PRESS TRUSTOF INDIA Mumbai,9July Heavy rain brought Mumbai and its neighbouring areas to a standstill on Monday, flood- ing streets and badly affecting life, with nearly 90 trains on the suburban network being cancelled. The rainfall caused traffic snarls as many roads and streets in the metropolis were flooded and people were seen wading through knee-deep water. A 43-year-old woman rid- ing a motorcycle as a pillion was crushed by a bus after the vehicle hit a water-logged pot- hole in adjoining Thane dis- trict of Maharashtra. The shocking incident was cap- tured on CCTV cameras. Due to water-logging, around 300 people were stuck in their homes in Vasai town of the adjoining Palghar district. However, they refused to be evacuated even as the water level receded, a district infor- mation officer said. The residents preferred to stay in their homes instead of relocating to some temporary shelter in response to the dis- trict administration's appeal for evacuation, he said. Some of them accepted food packets given by the administration, he said. "We have kept an ambu- lance near their homes as a precautionary measure," the officer said. The downpour of 170 mm (recorded in Colaba observa- tory for the Mumbai city) from 8.30 am on Sunday morning till 8.30 am on Monday was the highest in a24- hour period during the current monsoon season, the Meteorological Department's Deputy Director General, K S Hosalikar, said. From 8.30 am to 5.30 pm on Monday, the Colabaobser- Icra pegs f85 trillion subsidy for discorns Ratingagencylcra hasestim- ated a subsidy dependence of f85 trillion amid lowtariff hikes allowed for discoms in 2018-19, and expects impro- vement in thermal plants capacity utilisation or PLFin nearto medium term. PTI Decline in Indian power plant coal imports signals distress Authority, a unit of the power ministry. Higher coal prices and a weaker rupee forced them to cut generation. At the same time, plants that use domestic coal saw a 35 percent spurt in imports as they tried to bridge a shortfall in domes- tic supply. A court order last year barred some Indian power plants that use imported coal and have fixed-tariff contracts from passing on an increase in fuel costs to customers. Adani Power Ltd.'s 4.6 gigawatt plant at Mundra in Gujarat, which runs mostly on imported coal, RAJESH I<UMAR SINGH 9July The decline in coal imports by India's power plants points to distress in an increasing num- ber of generators and a domes- tic supply shortfall. Imports by power stations fell about 15 percent from a year ago in the first two months of the fiscal year to March caused mainly by a 32 percent drop in overseas pur- chases by plants designed to use imported coal, according to calculations based on data from Central Electricity Around 300 people were stuck at their homes in Vasai town of the adjoining Palghar district due to waterlogging in the area. PHOTO: I<AMLESH D PEDNEI<AR ,~ WARREN TEA LIMITED Registered Office, Deohall Tea Estate, P.O. Hoogrijan, Dist linsukia, Assam 786 601 CIN:L01132AS1977PLC001706 Tel: 03742911369 Email: [email protected] website: www.warrentea.com NOTICE Notice is hereby given pursuant to Regulation 47 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 that a Meeting of the Board of Directors of the Company will be held on 18th July, 2018 at Kolkata to consider, inter-alia, the Unaudited Financial Results for the quarter ended 30th June, 2018. Notice is also hereby given pursuant to Section 91 of the Companies Act, 2013, that the Register of Members of the Company would be closed from 4th to 10th September, 2018 (both days inclusive) in connection with the forthcoming Annual General Meeting of the Company scheduled to be held on 10th September, 2018. For Warren Tea Limited Siddhartha Roy President-Legal & Company Secretary Kolkata, 10th July, 2018 This information may be accessed on the Company's website www.warrentea.com and the same has also been forwarded to the stock exchanges for dissemination on their websites i.e. www.bseindia.com and WWW.CSG- india.com vatory recorded a rainfall of 104.8mm. The Santacruz observato- ry, which records rainfall for suburban Mumbai, reported the downpour of 122mm dur- ing the 24-hour period from 8.30 am yesterday and 75 mm from 8.30 am to 5.30 pm today. According to the Brihanmumbai Municipal Corporation (BMC),the metrop- olis has received 54 per cent of its average monsoon season rainfall just in the last 20 days. The rainfall slowed down the pace of the financial capi- tal, which is heavily depend- ent on local train services. Though the intensity of showers receded as the day progressed, it took longer time for the city traffic to revert to its pace. As many as 87 local servic- es on the Central Railway (CR) and the Western Railway (WR) were cancelled today due to the heavy rain, said officials. Vehicles on many roads were seen crawling because of the rainfall and low visibility. Potholes compounded the problem. Schools and colleges were shut in Mumbai, while the Mumbai University said examinations will be resched- uled for students who could not appear for them today. There was heavy water-log- ging in Mumbai's central areas ofKurla, Sion and Dadar. Mira Road (in adjoining Thane dis- trict), Nallasopara and Vasai (in Palghar district) were large- ly affected due to the heavy showers. Train services of the Central Railway and the Western Railway were slightly delayed due to water-logging on rail tracks in some places, the officials said. The WR cancelled 50 of the nearly 1,500 suburban servic- es operated by it on weekdays due to flooding on three tracks near Nallasopara station. Only two tracks were operational today. The WR deployed high- power pumps to take out water from tracks, but this did not help in avoiding delay in run- ning of trains. Thousands of people could not reach their offices, while many others arrived late. The CR cancelled 37 serv- ices, out of the daily 1,700, ear- ly in the day because of water- logging on tracks between Sion and Matunga stations. used merely 6 percent of its capacity during April and May, power ministry data show. Essar Power's 1.2 gigawatt imported coal-fired gener- ator in the same state was closed during the months. Average thermal coal prices at Australia's Newcastle port, considered an Asian benchmark, have risen about 25 percent in the period from a year ago. While Prime Minister Narendra Modi's govern- ment seeks to discourage imports ofthermal coal and sees the decline as an achievement, rising domes- tic supplies are failing to keep pace with demand. Plants designed to run on Indian coal are now increasingly importing the fuel for blending, as state miner Coal India Ltd. fails to meet requirements. "Domestic coal is in short supply and the gap is going to be filled by higher imports," by these plants, said Rupesh Sankhe, an analyst with Reliance Securities Ltd. in Mumbai. "The government is realizing that the increase in electricity demand will be sus- tained and domestic coal sup- plies will not be enough. It has asked state utilities to import to plug the shortfall." Power minister R.K. Singh last week asked state genera- tors, who had earlier been advised to curtail coal imports, to buy from overseas if they needed to as shortages contin- ued to persist. India's power plants imported 8.64 million metric tons of coal in the two months ended May, compared with 10.13 million a year earlier. Plants that run exclusively on imported coal, accounted for mostofthe imports at 5.07mil- lion tons, while those using domestic coal purchased 3.57 million tons from overseas during the period this year. BLOOMBERG KAJARIA CERAMICS LIMITED CIN:L26924HR1985PLC056150 Regd.Office: SF·ll,SecondFloor, JMDRegent Plaza,Mehrauli GurgaonRoad, Village SikanderpurGhosi, Gurgaon, Haryana122001, Tel.No.:+91·01244081281 Email id:[email protected], Website: www.kajariaceramics.com NOTICE Pursuant to Clause 47 of the SEBI (LODR) Regulations, 2015, Notice is hereby given that the meeting of the Board of Directors of the Company will be held on Tuesday, July 24,2018 at its Corporate office situated at J-l/B-l(Extn.), Mohan Cooperative Industrial Estate, Mathura Road, New Delhi 110044, inter-alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended June 30, 2018. The above details of the said meeting are also available on the website of the Company Le. www.kajariaceramics.com and also at website of the stock exchanges www.nseindia.com and www.bseindia.com. For Kajaria Ceramics Limited SdI- R. C. Rawat COO (A & T) & Co. Secretary Place: New Delhi Dated: 09.07.2018
Transcript of ECONOMY PUBLIC AFFAIRS MUMBAI TUESDAY, 10 JULY 2018 … · ZBNF expert Subhash Palekar was also...
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16 ECONOMY & PUBLIC AFFAIRS MUMBAI I TUESDAY, 10 JULY 2018 Business Standard
German cars, American steakearly victims of trade warNITI Aayogwants states to adopt
zero-budget natural farmingsentatives from agricultureuniversities, institutes, farm-ers and practitioners.
Speaking on the occasion,minister of state for agricul-ture and farmers welfareGajendra Singh Shekhawatsaid, "We are seeing side-effects of chemicals and fer-tilisers used in crops."
ZBNF expert SubhashPalekar was also present atthe event. He said that thebasic concept of ZBNF, whichis different from organicfarming, is to ensure thatprofit from supplementarycrops is enough to cover thecost of production of themain crop.
He said an average domes-tic Indian cow is sufficient togenerate chemical-free farm-ing in 30 acres ofland by usinga concoction of cow dung andurine, among others.
AGENCIESNew Delhi, 9 July
NITI Aayog vice-chair-man Rajiv Kumar onMonday made a casefor promoting zero-budgetnatural farming (ZBNF) instates, saying it wouldhelp double farmers' incomeby 2022.
Aayog member RameshChand, who is an expert inagriculture, said that suchmethods could be scaled upnationally only after theyhave been scientificallyproven to be correct and thereis proper manual for these.Under ZBNF, neither fertilis-er nor pesticide is used andonly 10 per cent of water is tobe utilised for irrigation ascompared to traditional farm-ing techniques.
Rajiv Kumar said that
Around five million farmers are working on zero-budget farming in different states
"Around five millionfarmers are working on zero-budget farming in differentstates," he said, adding thatnot only does it have poten-tial for India but it can also
be put to global use.The NITI Aayog vice-
chairman was addressing apress conference after meet-ing principal secretaries(agriculture) of states, repre-
states can promote ZBNFunder the two farm sectorschemes - ParamparagatKrishi Vikas Yojana andRashtriya Krishi VikasYojana.
BLOOMBERG9July WHAT'S IN A TRADE GAP
Items that contribute the most to America'strade deficit with China Figures in IbnChina's retaliatory tariffs on US goods struck
just as one of its biggest meat importers wasrushing a shipment from California throughShanghai customs. Now Suzhou HuadongFoods Ltd is saddled with a stack ofun affordable American steak.
Only three containers of frozen produceincluding prime rib and pork loin camethrough before the new levy slapped as muchas 500,000 yuan ($75,000) on each of theremaining half-dozen crates, according toGong Peng, the importer's general manager."We have no choice. We have to eat the costs,"Gong said in an interview. "We are guaranteedto dramatically lower our purchases of meatfrom American ranchers."
Triggering what China calls "the largest tradewar in economic history," the US on July 6imposed a 25 per cent duty on $34 billion ofChinese imports. Beijing immediately respond-ed with tariffs on USsoybeans, meat and vehicles.Suzhou Huadong, which supplies supermarketssuch asWalmart's Sam's Club in China, is just oneofthe early victims. For automobiles and whiskeymakers to companies along the complex globalsupply chain that defmes modern manufactur-ing, it is a moment of reckoning as they grapplewith higher costs and whiplashes from some ofthe earlier business decisions.
The ability of tariff-hit companies to weatherthe conflict may partly depend on the amount ofstock they managed to import before higherlevies kicked in. But once those supplies rundown, they'll have to absorb the tariffs or passthem on to customers.
Take Ford Motor and Tesla; both automakersarmounced price cuts in China only weeks ago,making their Lincoln and Model S sedans with-in the reach ofmore consumers after China low-ered tariffs on all foreign vehicle imports to 15percent. Starting July 6, those same models - ifthey are made in the US - are subject to a 40 percent levy. Tesla raised prices for its Model S andModel X by 150,000 yuan to 250,000 yuan afterthe additional tariffs, according to a sales repre-sentative. That would take the retail price of a
134.9,==:-196.7131.6_25.3.14.3114.11
ElectronicsMachineryFurnitureToys, sports eq uipmentApparelFootwear
Report: 9th citygasdistributionbidding mayfetch f700 bn
Agriculture scientists don't wantbureaucrat as job panel head Note: Figures represent imports from China minus exports to
China,2017 Source: USCommerce Department
In a letter to the PM,they sayappointing abureaucrat will lead to regular interferencein the processoftalent search
The ninth round of the citygas distribution (CGD) licen-ces auction, beginning thisweek, may see funds worth~700 billion from winningbidders, which is four timesthe cumulative tl50-180 bil-lion invested till fiscal year2018, said a report. "The ninthround of auction of city gasdistribution licences is set toalter the industry landscapewith the government expect-ing investments of VOO bil-lion from winning bidders, orfour times more than whatwas invested so far,"Crisilsaidon Monday. On offer are 86geographical areas in 174dis-tricts covering 29 per cent ofthe population, comparedwith a cumulative 56 geo-graphical areas awarded in theprevious eight rounds in thepast 10 years. The new geo-graphical areas on offer incl-ude Chennai, Coimbatore,Visakhapatnam, Aurangabadand Bhopal, which have gooddemand potential.
"We expect the ninth rou-nd to receive way better res-ponse because of revised bid-ding norms, and the pushfrom Centre through favou-rable policies," Crisil said, andpointed out the new normslikemarketing exclusivity peri-od of eight years which isextendable by two more years,compared with years earlier,tariff floors to discourage unvi-able bids, removal of addi-tional bid bond requirementand evaluation of bids basedon higher infrastructure cre-ation as wirmable factors. PTI
Model Sto asmuch as 1.47million yuan. Ford saidit will refrain - at least for now - from raisingprices. The top-of-the-end Lincoln Navigatormodel costs 1.16million yuan.
BMW and Daimler also face higher costsbecause they import luxury models to Chinafrom their US assembly plants. BMWsays itwon'tbe able to absorb the higher levies completely andis calculating the necessary price increases. Dai-mler declined to comment beyond saying it aimsto offer competitive conditions to buyers.
President Donald Trump is eyeing tariffs onanother $16 billion of Chinese goods, and heindicated last week that the final total couldsurpass $500 billion. Trump's course of actiononly means more US companies will lose out inChina as the country opens up, the People'sDaily, the Communist Party's flagship newspa-per, said in a commentary on Monday. Thezero-sum mentality of US policymakers willnot only hit economic and trade cooperationbetween China and the US, but also brings fur-ther uncertainty to the world economy, it said.With neither side backing down, the prospect ofa tax on almost every China-made productentering the U.S. and reprisals by China meansmany more businesses could come in the crosshairs. "Businesses hate uncertainty," said JacobParker, vice president of China operations atthe US-China Business Council. "If you areuncertain, you don't invest; ifyou are uncertain,you don't hire. Companies don't know how bigthis may get, or how it will end."
ASRB also conducts anAll- India level Preliminaryexamination for recruitmentof Scientists every year in 55different disciplines of agri-cultural sciences.
The scientists claimedthat so far, ASRB has recruit-ed over 95,000 personnel indifferent categories and so farit has not lost a single caseagainst any of its recommen-dations' which speaks vol-umes of the transparency inits functioning.
ASRB has a chairman andtwo full-time membersappointed from among thescientific community.However, since the last fewyears, it is operating withouta full-time chairman and onemember.
"Since the last 45 years,never has a bureaucrat head-ed ASRB. So, we feel thatsomeone who doesn't knowscience and is not aware ofthe nuances of agriculturesciences should not beallowed to judge scientists,"Singh added.
He said the ICARGoverning Council and evena government appointedcommittee under former sec-retary of Directorate ofAgricultural Research(DARE), R S Paroda to reviewthe functioning of ASRBunder hasn't said anything
SANJEEB MUI(HERJEENew Delhi, 9 July
The country's top agriculturescientists have written toPrime Minister NarendraModi opposing any move toappoint a bureaucrat aschairman of the AgriculturalScientist Recruitment Board(ASRB).
In the letter written lastmonth, scientists under theNational Academy of Agricu-ltural Sciences (NAAS) saidthat any move to appoint abureaucrat instead of a careerscientist as head of the ASRBwill end its autonomy andlead to interference in talentsearch.
"It will be disastrous foragriculture sciences andimpact research," said PanjabSingh, President of NationalAcademy of AgriculturalSciences (NAAS) and chan-cellor of RLB CentralAgriculture University,Jhansi.
The ASRB is the mainbody for recruitment of agri-culture scientists in the coun-try.
Constituted in 1973, theASRB has been instrumentalin appointment of scientistsin all major agriculture insti-tutes and universities in thecountry and also to build acadre offarm scientists.
The scientists claimed that so far, ASRB has recruited over95,000 personnel in different categories and it has not lost asingle case against any of its recommendations, which speaksvolumes of the transparency in its functioning
about changing the compo-sition of the ASRB.
Instead, it asked forstrengthening the recruit-ment board so as to enableselection of high quality indi-viduals for agricultureresearch.
Noted scientist DeepakPental said that entire con-cept looks flawed, addinghow can someone even thinkof appointing a non-scientistto head a scientists' recruit-mentpanel.
He said a career bureau-crat, who even has a knowl-edge of science, won't be ableto do justice as agriculturalsciences is a specialised fieldof branches and sub-divi-sions like animal husbandry,among others.
"We want to appeal to thegovernment and the peopleto save agriculture sciences
in India because science isthe bedrock of the govern-ment's aim to double farm-ers income by 2022," RBSingh, former chairman ofthe ASRB said.
The government hasn'tresponded to the allegationsand did not confirm whetherthere is move to change thecomposition of the ASRB.
PTI added quotingunnamed sources that aCabinet proposal has beenmoved to widen the eligibilitycriteria for appointment ofChairman of the AgriculturalScientists Recruitment Board(ASRB) as part of the govern-ment plan to reform the Board.
According to the UnionAgriculture Ministry's pro-posal, both agri-scientistsand even lAS officers canapply for the post of ASRBchairman, they added.
Heavy rain disrupts life inMumbai; road, rail traffic hitPRESS TRUSTOF INDIAMumbai,9July
Heavy rain brought Mumbaiand its neighbouring areas to astandstill on Monday, flood-ing streets and badly affectinglife, with nearly 90 trains onthe suburban network beingcancelled.
The rainfall caused trafficsnarls as many roads andstreets in the metropolis wereflooded and people were seenwading through knee-deepwater.
A 43-year-old woman rid-ing a motorcycle as a pillionwas crushed by a bus after thevehicle hit a water-logged pot-hole in adjoining Thane dis-trict of Maharashtra. Theshocking incident was cap-tured on CCTV cameras.
Due to water-logging,around 300 people were stuckin their homes in Vasai town ofthe adjoining Palghar district.
However, they refused tobe evacuated even as the waterlevel receded, a district infor-mation officer said.
The residents preferred tostay in their homes instead ofrelocating to some temporaryshelter in response to the dis-trict administration's appealfor evacuation, he said.
Some of them acceptedfood packets given by theadministration, he said.
"We have kept an ambu-lance near their homes as aprecautionary measure," theofficer said.
The downpour of 170 mm(recorded in Colaba observa-tory for the Mumbai city) from8.30 am on Sunday morningtill 8.30 am on Monday wasthe highest in a24- hour periodduring the current monsoonseason, the MeteorologicalDepartment's Deputy DirectorGeneral, K S Hosalikar, said.
From 8.30 am to 5.30 pmon Monday, the Colabaobser-
Icra pegs f85 trillionsubsidy for discornsRatingagencylcra hasestim-ated a subsidy dependence off85 trillion amid lowtariffhikes allowed for discoms in2018-19,and expects impro-vement in thermal plantscapacity utilisation or PLFinnearto medium term. PTI
Decline in Indian power plantcoal imports signals distress
Authority, a unit of the powerministry. Higher coal pricesand a weaker rupee forcedthem to cut generation. At thesame time, plants that usedomestic coal saw a 35 percentspurt in imports as they triedto bridge a shortfall in domes-tic supply.
A court order last yearbarred some Indian powerplants that use imported coaland have fixed-tariff contractsfrom passing on an increase infuel costs to customers. AdaniPower Ltd.'s 4.6 gigawatt plantat Mundra in Gujarat, whichruns mostly on imported coal,
RAJESH I
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fcr-licp : 07.07.2018~ : ~"i(JID1f
PUBLIC ANNOUNCEMENT PURSUANTTO PROVISIONS OF CLAUSES (iv), (v), (vi)AND (ix) OF ANNEXURE A TO SEBI CIRCULAR NO. SEBV HO/MRD/DSAlCIFVPI
2016/110 DATED OCTOBER 10 2016SHUKLAMBER EXPORTS LIMITED
Address: 24, Ashoka Chambers, 5·B, Rajindra Park, Pusa Road,New Delhi· 110060, Phone: Tel. 011·45012880, Email: [email protected]
This Exit Offer Public Announcement ("Exit Offer PA") is being issued by SMC CreditsLtd (hereinafter referred as "Offering Promoter/Acquirer")is the promoter ofShuklamber Exports Limited("SEL" or the "Company" or the "ELC") to provide exitopportunity to the Public Shareholders of SEL in terms of the Exit Circular.
SEL was listed on the Delhi Stock Exchange Limited, which have been de·recognizedby the Securities and Exchange Board of India ("SEBI"). Consequently, the said companySEL has been moved to the Dissemination Board ("DB") of the Bombay Stock Exchange("BSE LTD."). Shuklamber Exports Limited was established in 1984. It is engaged inthe business of Non·Banking Financial Activities.Financial and Other Information of SELQ Name of the Company: Shuklamber Exports Limited
(CIN:UI801 ODL1984PLC019519)ii) Registered Office: 24, Ashoka Chambers, 5·B, Rajindra Park, Pusa Road,
New Delhi·ll 0 060.iii) Share holding: As on March 31, 2018, the paid up equity share capital of SEL was
Rs. 29450000 represented by 2945000 fully paid up equity shares of Rs. 101· each.Out of the total 2945000 equity shares issued by SEL, 917700 equity shares(31.16%) are held by the Offering Promoter. Further Mis Focal Leasing and CreditsLimited holds 390200 equity shares (13.25%), Mis Nap Investment & Leasing Pvt.Ltd. holds 294500 equity shares (10.00%) and SMC Credits Ltd holds 233000 equityshares (7.91 %) are the promoters of SEL. Further 2027300 equity shares (68.84%)are held by public shareholders. As on March 31, 2018, SEL had 1149 shareholderfolios.
iv) Summary Financials: As per its audited financial statements for the last threeyears, SEL's Net Worth and Net ProfiV(Loss) after tax was as follows:
(In Rs.)
Particulars 31.03.2018 31.03.2017 31.03.2016(Un Audited) (Audited) (Audited)
Rs. Rs. Rs.
Paid up equity share capital 29450000.00 29450000.00 29450000.00
Net worth 378272910.00 366095474.00 355118229.00
Net Profit/(loss) After Tax 12177436.00 10977245.00 11034292.00
The SEBI vide its Circular No. SEBI/HO/MRD/DSA/CIR/P/2016/11 0 dated October 10,2016 ("SEBI Circular"), has stipulated the procedure and process for exit of ExclusivelyListed Companies ("ELC") from the DB. As provided in Clause (i) of Annexure A of theSEBI Circular, Mis Shuklamber Exports Limited has appointed, on Junel8, 2018,3Dimension Capital Services Limited, a Category I Merchant Banker asIndependent Valuer from BSE's panel of Independent Valuer. The Independent Valuer,after taking into consideration the applicable valuation methodologies, has issued itsValuation Report dated June 27, 2018 and has determined the fair value of an equityshare of SEL as Rs. 69.74 (Rupees Sixty Nine and Seventy Four paisa Only) per equityshare.In the view of the above, the Offering Promoter has decided to give exit offer to thepublic shareholders of SEL at price of Rs. 69.74 (Rupees Sixty Nine and Seventy Fourpaise Only) per equity share (equivalent to the fair value per Equity Share as determinedby the Independent Valuer) ["Offer price"].Further, SEBI vide its Letter MRD/OW/DSA/2017/17463/1 dated July 25, 2017communicated to the BSE Ltd. and National Stock Exchange of India Limited ("NSE")[SEBI Letter], inter·alia permitted that public shareholders/investors who are willing toremain as shareholders of the Company and do not want to exit may be allowed to doso and the Designated Stock Exchange (in the present case BSE) may obtained anundertaking from the investors who do not want an exit; consequently the exit obligationof the Promoter will be reduced accordingly.In terms of the above mentioned SEBI Letter, Public Shareholders who are willing toremain as shareholders of Shuklamber Exports Limited and do not want an exit shallsend us undertaking to this effect (in the format available at the website of BSE,www.bseindia.com under the link https:llwww.bseindia.comiinvestors/exercisingoption.aspx?expandable=6) either by Registered PosVSpeed PosVcourier at their ownrisk or by hand delivery, within 15 Days of publication of this Exit Offer PA i.e on orbefore the closure of business hours on Wednesday, July 24, 2018 to the address ofregistered office of the Company, as mentioned below:
Shuklamber Exports Limited24, Ashoka Chambers, 5·B, Rajindra Park, Pusa Road, New Delhi ·110060
Post the expiry of above mentioned 15 Days period, the Offering Promoter will initiatethe process of the Exit Offer to those public shareholders who have not opted to continueas shareholders of SEL ("Remaining Public Shareholders"). Offering Promoterundertakes that Offer Letter containing the relevant details relating to Exit Offer includingdates of Opening and Closing of Exit Offer, Offer Price, documents required to besubmitted for participating in Exit Offer shall be sent to remaining Public Shareholdersfor participating in the Exit Offer.In accordance with the Exit Circular read with the Circulars/Notices issued by BSELimited ("BSE Guidelines"), Offering Promoter will open an Escrow Account withScheduled Commercial Bank and deposit an amount equivalent to/more than the 100%of the Total Consideration (Offer Price'Remaining Public Shareholders) payable underthe Exit Offer at least one day before the dispatch of Exit Offer Letter.
This Exit Offer PA is expected to be available at the website of BSE atwww.bseindia.com and at the website of Independent Valuer at www.3dcsl.com.
For SMC Credits Ltd(Offering Promoter)
SdI·Prasahesh Arya
(Director)DIN: 00006507
Place: New DelhiDate : July 9, 2018
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'1.''1 I•Corporate office: FC·19,Sector·16A, Noida·201 301 (U.P)Regd. Office: 18th Floor, AWing, Marathon Futurex, N M Joshi Marg, Lower Parel, Mumbai - 400 013, MaharashtraCIN: L51909MH1988PLC287553,Tel.: 0120· 2467005/2467000, Fax: 0120·4357078
E·mail: investorfildishtv.in, Website: www.dishtv.inExtract of statement of standalone and consolidated financial results for the quarter ended 30 June 2018 (Rs, In Lacs)
Particulars Standalone financial results Consolidated financial results
Quarter·ended Year ended Quarter·ended Year ended
30.06.2018 31.03.2018 30.06.2017 31.03.2018 30.06.2018 31.03.2018 30.06.2017 31.03.2018
1. Total income from continuing operations 101,317 97,161 44,118 186,160 165,563 153,137 73,888 463.416
1. Net Profit / (Loss)for the periodfrom continuing operations (beforeTax,Exceptionaland/or Extraordinaryitems] 1,181 (5,517) (809) (14,193) 3,415 (6,669) (3,017) (9,791)
3. Net Profit / (Loss)for the periodfrom continuing operations beforetax (after Exceptionaland/or Extraordinaryitems) 1,181 (5,517) (809) (14,193) 3,415 (6,669) (3,017) (9,791)
4. Net Profit / (Loss)for the periodfrom continuing operationsafter tax (after Exceptionaland/or Extraordinaryitems) 1,149 (18,795) (1,417] (5,111) 1,548 11,811 (1,394) (8,490)
5. Net Profit / (Loss)for the periodfrom discontinuedoperationsafter tax (1,6771 8,546
6. Net Profit / (Loss)for the periodafter tax (after Exceptionaland/or Extraordinaryitems) 1,149 (11,471) (1,417) 3,334 1,548 11,811 (1,394) (8,490)
7. Total comprehensiveincomefor the period [comprising profit! (loss) for the period (after tax) and other comprehensiveincome (after tax)] 1,149 (11,391) (1,417] 3,415 1,951 11,986 (1,351) (8,133)
8. EquityShareCapital 18.413 18,413 10,660 18.413 18.413 18,413 10,660 18,413
9. Reserves(excluding revaluation reserves,if any) 653,864 655,531
10. Basicand diluted earnings per share (for continuing anddiscontinued operations)of Re.1 each (not annualised) lin Rs.J 0.11 (1.91] (0.13) 0.31 0.14 1.08 (0.13) (0.69]
Theaboveinformation is an extract of the detailed format of financial results filed by the companywith the stock exchangesunder regulation 33 of the SEBI(Listing obligations and DisclosureRequirements)Regulations,1015.Thefull format of the abovefinancial results are available on the Stock Exchangewebsites,(WMV.bseindia.comandWMV.nseindia.com)andalso on Company'swebsite at WMV.dishtv.in.
Forand on behalf of the Boardof DirectorsDISHTV INDIA LIMITED
Jawahar Lal GoelPlace: Noida Chairman and Managing DirectorDated: 9 July 2018 DIN: 00076462
eJall 022 24978470 I SlVlS reachbs to 56677e-rn..ail u.s at: orderbsrn..ail_in.
mailto:[email protected]://www.bseindia.comhttp://https:llwww.bseindia.comiinvestors/exercisinghttp://www.bseindia.comhttp://www.3dcsl.com.mailto:[email protected],mailto:[email protected]:[email protected],mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected],mailto:[email protected],mailto:[email protected],mailto:[email protected]::[email protected],mailto:[email protected]:[email protected],http://www.kajariaceramics.comhttp://www.kajariaceramics.comhttp://www.bseindia.com.http://www.dishtv.in
Page 1Titles16 ECONOMY & PUBLIC AFFAIRS MUMBAI I TUESDAY, 10 JULY 2018 Business Standard 134.9,==:-1 WHAT'S IN A TRADE GAP Heavy rain disrupts life in German cars, American steak NOTICE Decline in Indian power plant ,~ WARREN TEA LIMITED NOTICE Agriculture scientists don't want NITI Aayogwants states to adopt Icra pegs f85 trillion
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