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FE BUREAUNewDelhi, December 28
THEWORLD’S MOST expen-sive automobile firm, Tesla,valuedatmorethanmorethandouble the combined value ofToyota, Ford and GeneralMotorswill‘startoperations’inIndia early next year, roadtransport minister NitinGadkari said at the ExpressGroup’s IdeaExchange.A day prior to this, in
responsetoaquestionbyafanonwhetherTeslawould be inIndia in January, Tesla CEOElonMuskhadreplied“No,butdefinitelythisyear”.Gadkari said Tesla would
first start by selling its carsin India — the India price ofthe Tesla Model 3 should bein the `55-60 lakh range —and depending upon theresponse, maybe look at
assembly andmanufacturingoperationsaswell.“India is going tobecomea
number one manufacturinghubforelectricvehicles in fiveyears”,Gadkari said.Gadkari added that Indian
companieswere alsoworking
on electric vehicles and indue course of time,“you willget electric carswhichwill beequal to Tesla. I amconfident and the costwill beveryless”.
ContinuedonPage2
ALLCHARGED UP PRIMARYMARKETS
FE BUREAUMumbai, December 28
THE PRIMARY MARKETShaveallbuteclipsed thestun-ning rally in the secondarymarkets in2020withcompa-nieshavingraisedawhopping`1.77 lakh crore. That’s a116% increase over lastyear’s `82,241 crore andtopped the `1.6 lakh croreraised in 2017, data fromPrimeDatabase show.Moreover, the average
listing gains from the top 15IPOs (initial public offerings)havebeenarewarding35.5%,way above the 22.3% thatinvestors got in2017.In all, companies mopped
up `26,611 crore throughIPOs, 115% more than the`12,362 crore that compa-
nies had raised in 2019 butsmaller than the `33,246crore raised in2018.PEs and VCs cashed in on
the good sentiment andwereable to sell equity worth`8,026 crore.As PranavHaldea,manag-
ing director, Prime Database,pointed out, the increasedglobal liquidity created bythe accommodative stance ofcentral banks, low interestrates and positive outlook onemerging markets like Indiahad facilitated the largefund-raising.“The good quality paper
at attractive valuationshas also resulted in therecord fund-raising,”Haldeasaid.
Continued on Page 2
LISARICHWINELosAngeles, December 28
WONDER WOMAN 1984pulled in $36.1 million atworldwide theatres over theChristmas holiday weekendandboostedstreamingviewer-shiponHBOMax,WarnerBrossaid onSundayas it confirmedplans for a third film in thesuperherofranchise.Anestimated$16.7million
of the box office total camefromUSandCanadiantheatres,theAT&TInc-ownedstudiosaid
on Sunday.That ranked as thehighestdomesticopeningsincetheCovid pandemic shutteredtheatres inMarch, though thenumbers were a fraction ofusual receipts for a big-budgetaction flick.The 2017WonderWoman film opened with$103.2milliondomestically.With two-thirds of North
American theatres closed,Warner Bros opted for anunusual arrangement,makingWW84 available at the sametimetoUScustomersofAT&T’sHBOMaxstreamingservice.
MillionswatchedthefilmonHBOMax,thecompanysaidinastatement,but itdidnotspecifyhow long they tuned in. Totalviewinghourson theplatform
tripled on Friday com-pared with a typicaldayin thepreviousmonth,the state-mentsaid.
The movie“exceeded ourexpectationsacross all of ourkey viewing andsubscribermetrics
in its first 24hours on the ser-vice,” saidAndyForsell,execu-tivevice-president andgeneralmanager of WarnerMediaDirect-to-Consumer.Warner Bros said it would
accelerate development of athirdWonderWomanmoviealsowritten and directed by PattyJenkins and starringGalGadotas the lasso-wielding warrior.The studio didnot announce areleasedate.PaulDergarabedian,senior
media analyst at research firmComscore, said WW84 per-
formedwellintheatersgiven“anextremelychallengingmarket-place”.“Considering the avail-abilityofthisblockbusterfilmathome,thenumbers forthe the-atrical debut of WW 1984shouldactuallybeencouragingtotheatricalexhibition,”hesaid.WW84 faced competition
fromcriticallypraisedPixarani-matedmovie Soul,whichWaltDisneyCodelivered to theDis-ney+ streaming service andsometheatersoverseas.
ContinuedonPage2
A GOOD RUN
FEBUREAUNewDelhi, December 28
IN A RELIEF to three TataGroup trusts, the IncomeTaxAppellate Tribunal (ITAT) hasupheld the tax exemptionsgiven to them under Section11of the IncomeTaxAct.The tax department, in
revised assessment orders,had sought to cancel theexemption.The I-T commissioner
concerned had issued revisedorders for the assessmentyear 2014-15 based on theadditional materials receivedfromTata Sons’ former chair-man CyrusMistry, some timeafterhisouster.Mistry had alleged that
Trustees had exercised a lot ofcontrol over the business.Besides, Ratan Tata and RVenkatramanan were takingservices and benefits fromTata Sons, the commissionerhad noted, as informationreceived fromMistry.However, the tribunal’s
Mumbaibenchhasnownotedthat the revision of the orderswas a tactic by the tax depart-ment to extend the timeforscrutiny.
ContinuedonPage14
● BREATHER
Tax tribunalrestoresexemptionsgiven toTataTrusts
IN THE NEWS
Govt lifts curbson onion exportsfromJanuary 1THEGOVERNMENTonMonday notified its decisionto lift a ban ononion exportsfromJanuary 1, as domesticsupplies improvedwith freshcrop arrivals andpricesremained steady, reportsfe Bureau inNewDelhi.Themove comes as aNewYeargift for farmers,who hadcalled theban “arbitrary”.
Adani JV’s dollarbond issuanceoversubscribedADANI INTERNATIONALCon-tainerTerminal (AICTPL) onMonday said itsmaiden$300-millionbond issuancewitnessed10 timesoversub-scription, reportsPTI.AICTPL, a JVbetweenAdaniPorts andSEZandTerminalInvestment, is a containerterminal operating firmbasedout ofMundra.
Serum tomake300mvaccinedoses by JulySERUM INSTITUTEwill bereadywith 300million dosesof the Covishield Oxford-AstraZeneca Covid-19vaccine by July 2021,reportsGeeta Nair in Pune.CEOAdar Poonawalla saidthey have a stockpile of40-50million doses already.
Record `1.77L crraised in 2020
FARMERS’ STIR
FE BUREAUNewDelhi, December 28
THE GOVERNMENT ONMonday wrote to leaders of40 farmer groups,expressingits willingness to discussin detail the issues raisedby them concerning thecontentious new farm laws,with ‘pure intent’ and an‘open mind,’ but sought todelay the talks by a daytoWednesday.While farmershadmooted
a four-point specific agendafor the meeting, including“modalities for the repeal” ofthe three laws and mecha-nismstomake“remunerativeMSP a legally guaranteedentitlement”, agriculturesecretary Sanjay Agarwal’sletter referred to the twodemands in more genericterms as “issues relatedto the three farm laws” and“system of procurementatMSP”.
Yet, the government’s let-ter reflected a more accom-modative stance than earlier.The discussions would be
“in the context of farmers’explanations” of the issues,Agarwalwrote in the letter tothe farmers.
ContinuedonPage2
Agriministry’s letterleaves out demandfor repeal of laws,legally guaranteedMSP; farmerssay govt being‘cleverwithwords’
CRACKDOWN
REUTERSBeijing, December 28
CHINA'S CENTRALBANK hasdisclosedithadaskedthecoun-try’spaymentsgiantAntGroupto shake up its lending andotherconsumerfinanceopera-tions, the latest blow to itsbillionairefounderandcontrol-lingshareholderJackMa.The announcement came
more than amonth after Chi-nese regulators abruptly sus-pendedAnt’s blockbuster$37-billion initial public offering inShanghai andHongKong,andonly days after the country’santitrust authorities said theyhad launchedaprobe intoMa’se-commerce conglomerateAlibabaGroupHolding.ChineseregulatorsandCom-
munist Partyofficials have setaboutreininginMa’ssprawlingfinancial empire afterhe pub-liclycriticisedthecountry’sreg-ulatorysysteminOctoberforsti-fling innovation. RegulatorshaveurgedAnt to rectifyfinan-
cialregulatoryviolations,includ-ing in its credit, insurance andwealth management busi-nesses, and overhaul its creditrating business to protect per-sonalinformation,People’sBankofChina (PBOC)vice-governorPanGongshengsaidonSunday.
ContinuedonPage14
China pushesAntGroup overhaul
QuickPicks
Maintaining4% inflationappropriate for India: RBI paper
MAINTAINING4% inflation is appropriate for Indiaas targeting a lower rate could impart deflationarybias to themonetarypolicy, said aReserveBankpaper, reportsPTI. Under the current dispensation,
RBI hasbeenmandatedby thegovernment tomaintain retailinflation at 4%with amargin of2%oneither side.Thepaper,authoredbyRBI deputygovernorMichael Debabrata Patraandanother official HarendraKumarBehera, has foundasteady fall in trend inflation to 4.1-4.3% since 2014.PAGE14
SKMaini,promoter of India’sfirst electric carReva,dies at 87
THEFOUNDERof theMainiGroup,Dr SudarshanKumarMaini,whoencouragedhis sonChetanMaini to commercialise India's first electric carReva, hasdied, his family sources saidonMonday,reportsPTI.According to familymembers,Mainidied in Bengaluru at his residenceonDecember
26 after prolonged illness at the ageof87.He is survivedbywifeReva and three sons, Chetan,GautamandSandeep.Maini established theMainiGroup in 1973.PAGE4
ECONOMY, P2
GSTCOMPENSATION
INTERNATIONAL, P8
SENSEX: 47,353.75 ▲ 380.21 NIFTY: 13,873.20 ▲ 123.95 NIKKEI 225: 26,854.03 ▲ 197.42 HANG SENG: 26,314.63 ▼ 71.93 `/$: 73.50 ▲ 0.05 `/€: 90.03 ▼ 0.36 BRENT: $51.77 ▲ $0.48 GOLD: `50,074 ▲ `287
PUNE, TUESDAY, DECEMBER 29, 2020
Finmin releases`6,000 crore asninth instalment
REDTAPE
UKwarns of 'bumpy'post-Brexit transitiondespite dealwith EU
OPINION, P6
ABOSE & JJ NEDUMPARA EDITORIAL
UnderBiden, expectcontinuation of statusquo on trade policy
Pre-pack for insolvency
resolution shouldn't erode
IBC gains, must not give
promoters the upper hand
VOL. XI NO. 284, 16 PAGES, `6.00 PUBL I SHED FROM : AHMEDABAD, BENGALURU , CHAND IGARH , CHENNA I , HYDERABAD, KOCH I , KOLKATA , LUCKNOW, MUMBA I , N EW DELH I , PUNE
FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM
READ TO LEAD
$10-bn buyback plan fails to halt stock slide
ALIBABASHARES slumped9%totheirlowestsinceJuneonMonday,asthecompany’supsized$10-billionbuybackprogramme failed to easeconcerns about a regulatorycrackdown on co-founder
Jack Ma’s e-commerce andfinancial empire, reportsReuters.Asharpsell-offovertwo sessions has knockedalmost $116 billion off thetech giant’s Hong Kong-listedshares. ■Page8
SNOWFALL IN SHIMLAPeoplewalk on a snow-covered road in Shimla after it received the season’s firstsnow onMonday
● RELIEF RALLY
AMID PROTESTS against theCentre’snew Acts governing agriculture andmarketing of agriculture produce,transport andMSMEminister NitinGadkari on Monday sought to allayfearsthatcontractfarmingwill lead
tolargecorporationssnatch-ing away farmers’ land,
reportsfeBureauinNewDelhi.Speak-ingattheIdeaExchangeProgrammeofthe IndianExpressGroup,healsosug-gestedmoreflexibilitiesinthe`3-lakh-crore loan guarantee programme forMSMEs,professionals and largerenti-ties in 27 stressed sectors to improveslowingofftake.■Report onPage2
WonderWoman1984hits pandemichigh in cinemas,streaming
BLOOMBERGDecember 28
GOLDHEADEDFOR thehigh-estcloseinsevenweeksafterUSPresidentDonaldTrumpsigneda$900-billion coronavirus sti-muluspackage,pumpingmorestate funds into theworld’s topeconomy.Silvertoosurged.Thehavenbuilt on a runof
fourweeklygainsfollowingthebreakthrough on the package,which Trump had initiallydeclinedtoendorseamidadis-pute on the size of checks tosupport households amid thepandemic.Thedollareased.Bullion is set to post the
first monthly gain since July
after a run of losses promptedby the development of effec-tive coronavirusvaccines.
ContinuedonPage2
Govtproposestoholdnext roundoftalkswith farmer
unionsonWednesday; theyhadsuggestedTuesday
Govt's latest letter to farmerssays"issues relatedtothree farmlaws"and"systemof
procurementatMSPs"willbediscussed
Farmershadmooted4-pointagenda, including:
■Modalities tobe adoptedfor the repeal of the threeCentral FarmActs
■Mechanisms tobeadopted tomake “remunerativeMSPinto a legally guaranteedentitlement for all farmers andall agricultural commodities"
Govt cautious overagenda for talks
Underaproduction-
linked incentivescheme, thegovernment
offerscompaniessettingup
advancedbatterymanufacturingfacilities
`18,100crore
over fiveyears,as it seekstopromoteuseofelectricvehicles
NITIAayoghassaid Indiacouldcut itsoil importbillsbyasmuchas$40billion
ayearby2030 ifEVswerewidelyadopted
Over10states, includingAndhraPradesh,Karnataka,Maharashtra,NewDelhiand
UP, havemootedpolicies to incentiviseEVs
InDelhi, for instance, thosebuyingelectrictwo-wheelers,e-rickshaws
or freightvehiclesqualifyforabenefitofupto`30,000; forfour-wheelers,the incentivegoesupto`1.5 lakh
Tesla set to drive on
Indian roads in 2021
Contract farmingwon’t lead to farmers losing land: Gadkari
Total equity raised (` crore)*
*includes equity capital raised through IPOs, FPOs, QIPs, IPPs, IDRs, InVITs/REITsSource: PRIME Database
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
1,77,468
82,241
62,651
1,60,032
44,81968,505
39,078
45,440
36,253
17,481
97,746
Special Feature
Investorswho park theirfunds in savings bankaccounts for lack of low-risk options for the shortterm should instead go forliquid fundswhich can givea tadmore higher returns■Personal Finance, P9
Knowwhenyou shouldinvest in liquid funds
GOLD RUSHReturn (%)
2010 2013 2020
Source: Bloomberg
-30
-15
0
15
30
29.57 23.66
-28.28
Goldheads for7-weekhighasTrumpsigns stimulus
SensexIntra-day, Dec 28
Nifty50Intra-day, Dec 28
Bank NiftyIntra-day, Dec 28
47,050Open Close Open Close Open Close
47,150
47,153.59
47,353.75
47,250
47,350
47,450
Previousclose:46,973.54
13,780
13,810
13,840
13,870
13,900
13,815.15
13,873.20
Previousclose:13,749.25
30,400
30,550
30,700
30,850
31,000
30,558.85
30,880.95
Previousclose:30,402.20
Liquidity factor
Markets rally to newhighsStrongglobal cues, the promise of abundant liquidity, big buyingby FPIs and encouragingcorporate news continue todrive up the indices to newhighs. FPIs havebought stocksworthnearly $6 billion in December so far on the back of large purchases in the last fewmonths.
FE BUREAU
■ ItsAlipay appdominatesdigital payments inChina,withmore than
730millionmonthly users
■Ant traces itsbeginnings toAlipay,whichwaslaunched in 2004 as apayment service, and is33%ownedbyAlibaba
■ Itwaspoisedtobevaluedatmorethan
$300billionin itsstockmarketdebut
Pune
-
EconomyTUESDAY, DECEMBER 29, 2020
FINANCIALEXPRESS2
FE BUREAUNewDelhi, December 28
AMID FARMERS’ PROTESTSagainst the Centre, transportand MSME minister NitinGadkari onMonday sought toallay fears that contract farm-ingwill lead to large corpora-tions snatching awayfarmers’land.He also suggestedmoreflexibilities in the `3-lakh-crore loan guarantee pro-gramme for MSMEs, profes-sionalsandlargerentitiesin27stressed sectors to improveslowingofftake.Companies don’t get to
own the land, just like “youdon’t become the owner of acar by travelling in an Ola orUber vehicle,” he said at the
Idea Exchange Programme ofthe IndianExpressGroup.Confusionsabout the farm
Bills are being created byvested interests.The Bills freefarmers fromvariousshacklesand allow them to sell theircropswherevertheywant,justlike any other producer,Gad-kari stressed.Given that the market
prices of several farm com-moditieshavetrailedthemin-imum support prices (MSP),Gadkari pitched for diversifi-cationfromcertaintraditionalcrops,where the country has
huge surplus stocks, to biofu-els like ethanol. This will notjust cut excess stocks of thesecommodities (rice, corn andcane by-products like sugar)and prevent the prices fromany irrational slide but alsoopen alternative avenues forthe farmers to boost theirearnings,Gadkari added.As for crop diversification,
thegovernmenthasbeencon-sidering a proposal to allowethanol production from sur-plus rice, and not just fromcane juiceormolasses.If the proposal is finally
implemented,itwill be for thefirst time that thecountrywillbe using grains fit for humanconsumption tomanufacturebiofuel, industry executivessay.This also signals a funda-mentalshiftintheapproachofthe government that had inthepast refrained fromsuchamove for fear of jeopardisingfood security. Given that thecountryhasbecomeself-suffi-cientinriceproduction,allow-ing only a part of the surplus
stocks for ethanol productionmakesmuch sense, accordingtogovernmentofficials.“We are targeting to raise
the annual value of domesticethanol production fromabout`20,000croreto`1lakhcrore in a fewyears,”Gadkarihadsaid in June.Theministersaidhehaswrit-
tentofinanceministerNirmalaSitharaman to make the `3-lakh-croreguaranteedloanpro-grammemoreflexibletofurtherimproveofftake.Just like com-mercial banks,urbanco-opera-tives should also be allowed totap theEmergencyCredit LineGuaranteeScheme (ECLGS) foron-lending,headded.After a speedy pick-up in
initial months, the pace ofsanctionsundertheECLGShasslowed since November.As ofDecember4,banksandNBFCssanctioned`2.06lakhcroretoabout 8.1million borrowers,mostly MSMEs, since thescheme’s rollout on June 1.Ofthis, an amount of `1.59 lakhcrorewasdisbursed.
From the Front Page
WonderWoman
1984hits apandemic highin cinema,streamingTHESTORYOFamusicteacherseeking his life’s purpose tookin$7.6millionintheaters,Dis-neysaid.Itdidnotdisclosehowmanypeoplewatched Soul viastreaming.WarnerBros.hasannounced
the same hybrid release strat-egyfor its17 theatricalmoviesin 2021, sparking a backlashfrom some top Hollywooddirectorsandcinemaoperators,who hope for a rebound afterCovid-19vaccinationsincrease.Through Sunday, 2020
domestic box office receiptstotaled$2.3billion,down80%fromayearearlier,accordingtoComscore. —Reuters
Goldheads for7-weekhigh asTrump signs
stimulusOVER2020ASawhole,goldhasbenefited froma steadyweak-ening of theUS currency sinceit peaked in March, as well asfromunprecedentedfiscal andmonetarystimulus.Spot gold rose as much as
0.7% to $1,896.70 an ounce,andtradedat$1,894.02inSin-gapore.Thatwouldbethehigh-est close sinceNovember6.Sil-ver for immediate deliveryrallied as much as 3.6% to$26.7601anounce.The BloombergDollar Spot
Indexfellasmuchas0.2%.
Farmers’stir:Govt cautiousonagenda for talksFARMER UNIONS SAID theywould respond to the govern-ment’s offer but did not hidetheirdisappointmentwith thegovernment’s “vague andunspecific language”, which,accordingtothem,“indicateditsunwillingnesstodiscussthefullagenda items proposed by the
farmers”.“LetterofGoIindicatesthat it is being clever withwords…this exposes double-speakof the government,”saidAllIndiaKisanSangharshCoor-dinationCommittee(AIKSCC),aconstituent of SamyuktaKisanMorcha,theumbrellabodythatorganised the month-longprotest bytens of thousandsoffarmers at thenational capitalborders,saidinastatement.Agarwal also informed the
farmerleadersthatthegovern-ment is also ready to discussissues related to the“Commis-sion for the Air QualityMan-agement inNCRandAdjoiningAreasOrdinance,2020”andthedraft“ElectricityAmendmentBill,2020”.The farmer unions have
demandedfarmersbekeptout-side the recentlypromulgatedOrdinance on air pollution,under which up to Rs 1 crorepenalty and 5-year imprison-ment is proposed for stubbleburning.The otherdemand ofthe farmers is to continue thecurrent systemof free electric-ity for agriculture as providedbysome states,rather than the
transfer of subsidy throughDBT as proposed in the draftElectricityAmendmentBill.The farmer unions under
the bannerof SamyuktaKisanMorcha(UnitedFarmers’Front)on Saturday had proposed tohold thenext roundof talksonTuesday.Prime Minister Narendra
Modi on Friday asserted thatthe new pieces of legislationwould unshackle Indian agri-cultureandenable‘BrandIndia’to establish itself in the globalagricultural markets. He alsoslammed the Opposition forspreading “lies and myths,”while the new lawswould onlygivemore alternatives for thefarmerstosell theirproduce.Morethanonelakhfarmers
have been protesting at thenationalcapitalbordersforoveramonth demanding repeal ofthreefarmlaws.Theyfearman-dis runbyAgriculture ProduceMarket Committees (APMCs)will be closed andMSPsystemwill be abolished in the longrun.Modiandotherseniormin-isters had assured anumberoftimes that theyareprepared to
givewritten assurance on con-tinuationofbothsystems.
Primarymarkets:Record`1.77Lcr raised in2020SIDDHARTHAKHEMKA,HEAD(retail research),Motilal OswalFinancial Services, observedthat with larger companiesbeing fairlyvalued and strongliquidity in the market,investors have shownan inter-est in mid-cap and small-capstocks.“The appetite for newer
securities has also increasedand several companies havetappedthemarketstoraisecap-ital at a good valuation,”Khemkasaid.Typically, the sentiment in
the primarymarkets has beenbuoyed by a bull rally andincreased liquidity, helpingbusinesses to command a bet-ter valuation for their busi-nesses.
DPIIT sends PLIproposal forLEDs, ACsTHEDEPARTMENTFORPromotionofIndustryandInternalTrade(DPIIT)hassentaproposalforprovidingincentivestoACsandLEDlightsunderthePLI schemetotheexpenditurefinancecommitteeforappproval,anofficialhassaid.InNovember,theUnionCabinethadapproved`6,238croreoutlayforthesetwosectors,airconditionersandLEDlights,undertheproductionlinkedincentive(PLI)scheme,whichaimsatmakingIndianmanufacturers'competitiveglobally.
Over4.23crITRsforfiscal2019-20filedtillDec27OVER4.23CROREtaxpayershavefiledtheirIncomeTaxReturnsforAssessmentYear2020-21(fiscalyear2019-20)tillDecember27,theIncomeTaxdepartmentsaidonMonday. "Morethan4.23croreIncomeTaxReturnsforAY2020-21havealreadybeenfiledtill27thofDecember,2020.Haveyoufiledyours?Ifnotfiledasyet,don'twait.Fileyour#ITRforAY2020-21TODAY!,"theIncomeTaxdepartmenttweeted.
FASTagapptoprovidebalancestatus tousersTHENATIONALHIGHWAYSAuthorityofIndia(NHAI)onMondaysaidithasupdatedtheFASTagapptoaddanewfeaturetoprovidebalancestatustousers."WithFASTagbecomingmandatoryontollplazasfrom1stJanuary2021andtoensureitssmoothimplementation,NHAIhasupdateditsMobileApp?MyFASTagApp'withanewfeatureto?CheckBalanceStatus'bysimplyenteringthevehiclenumber,"NHAIsaidinastatement.
Maritimepiracymajorcauseofconcern:MUICONCERNEDATRISINGincidents of piracyduringtheCovid-19pandemic,maritimebodyMUI onMondaysaid it hasbecomeamajor cause ofworry forover two lakhIndian seafarers.TheMaritimeUnionof India(MUI), India's oldestunionofmerchantnavyofficers,said there isaround26%rise inmaritimepiracydue tothe pandemic.
WWW.FINANCIALEXPRESS.COM
Tesla set to drive on Indian roads in 2021GADKARI ADDED THAT indue course India would bethe “number onemanufac-turer” of electric vehicleslike cars,bikes, trucks, trac-tors and constructionmachinerythat runonelec-tricity.He further said a lot of
small companies havestarted manufacturingelectric scooters and bikesin factories inUttarPradeshandotherpartsof thecoun-try.Andthat there isalreadya lot of research going on toindigenously develop analternative to lithium-ionbatteries since mostlithium-ion batteries areimported fromChina.“There are some prob-
lemsrelated to lithium-ion.Argentina has got hugereservesof lithium-ion.OurIndian players are also try-ing to get lithium-ion theworld over. But this is also
true that the Chinese havealready picked up stakes inmajority of the lithium-ionmines,” he said adding thatIndian researchers werenow trying to invent a bet-ter alternative to lithium-ion batteries.“Take for example Isro
sending satellite, using adifferent type of batteries.Research isgoingonandwewill get the solution forthat. Sodium ion batteriesare also in the process ofbeingmade.The research is in the
final stages.I amverymuchconfident about our IITsandengineeringgraduates.In this fieldwewill get suc-cess.Thesodiumionbatter-ies are very cheap”.Speaking about the
developing ecosystem forEVs,Gadkari said research isonto inventaluminium-ionbatteries also and he has
already inaugurated heavyconstruction machinerythat run on electricity.“The important thing is
already there is a lot of saleof the electric buses, like inMumbai and Pune, Nagpuretc. They are there in air-ports also.“Even electric tractor is
now in the process of beingmanufactured. One of theleadingcompanieswants tolaunch electric truck. Just20daysago I launcheda JCBonCNG.Soa lotof change isgoing on and we are 100%certain that it is very costeffective, import-substi-tute, pollution-free andindigenous. We havealready in the process ofmaking (vehicle) scrappingpolicy.With the scrappingpolicy, I am confident thatIndia will be the numberone manufacturing hub intheworld,”he said.
Contract farmingwon’t lead tofarmers losing land:Gadkari
Quick
View
❝ ❝
FIGHTINGMONEYLAUNDERINGSuresh Prabhu, India's Sherpa to G20 and G7
India is at the forefront of fightingmoney
laundering. It is possible to stop terrorism by
stopingmoney laundering... there is a direct link
betweenmoney laundering and terrorism.
False narrativeshurting farmers’interests,saysNitiAayog’svicechairmanKumarBIJAY KUMAR SINGHNew Delhi, December 28
FALSE NARRATIVES ABOUTthe new farm laws are doingsignificantharmto the inter-est of farmers as well as theeconomy in general, NitiAayog vice chairman RajivKumar said on Monday andexpressed his disappoint-ment at some economistschanging their stance on thenew legislations.As farmers continue their
protests demanding repeal-ing of the three new laws,Kumar also emphasised thatcontinued negotiations withprotesting farmers is ofcourse theway forward."Any argument that these
measures (the Centre's newfarm laws)will open the farm-ers for exploitation by largecorporates is completely falsebecause the government hasassured Minimum SupportPrice (MSP) to all the farmersonarangeofcrops,"hetoldPTIinan interview. —PTI
FARM BILLS
The government isalso considering aproposal to allowethanol productionfrom surplus rice
Govt to lift ban ononionexports from January1FE BUREAUNew Delhi, December 28
THE GOVERNMENT ONMonday notified its decisionto lift a ban on onion exportsfrom January 1, as domesticsupplies improvedwith freshcrop arrivals and pricesremained steady.The move comes as a new
yeargift for farmers,whohadcalled the ban “arbitrary”. Italso comes at a time whenprotests against the Centre’sfarmbills continueunabated.The government had
bannedonionexports inSep-tember to contain a spike indomestic prices.The surge in prices was
caused by amassive destruc-tionof crops in states,includ-ing Karnataka, MadhyaPradesh and Gujarat, follow-ing heavy monsoon down-pours.Onion prices have since
eased.InDelhi,thewholesaleprices have dropped by 25%since the banwas imposed to`1,425 per quintal on Mon-day, according to the dataavailable with the consumeraffairsministry.While the ban was eased
for high-end varieties andexports of 10,000 tonne ofBengaluru rose and Krisnpu-ram onion varieties wereallowed in October, restric-tions on the exports of com-mon varieties still remained.With the latest notifications,this curb is set to be liftedfrom January1.Accordingtoanotification
by the directorate general offoreign trade onMonday, the
“export of all varieties ofonions”has beenmade“free”from January1,2021.Analyst had criticised the
Centre’s move, saying pro-ducerswere short-changedtoprotect consumers, whichdoesn’t help the country’slong-term trade interest.Periodic curbs on items
ranging from rice and wheatto onion and cotton, espe-cially during the UPA years,had stoked uncertainties,shiftedbuyers tocompetitorsanddented India’s image as areliable supplier.However, in recent years
under the NDA, such policyrestrictions on exports havebeen curtailed. Nevertheless,this governmenthas at timesresorted to such restrictions.Export curbs include the
imposition of minimumexport price, quantitativelimit on shipment, exportdutyand an outright ban.Around 40% of the onion
crop isproduced in thekharifseason,which are not usuallystored.
PM launches India’s first driverlesstrain onDelhiMetro’smagenta lineFE BUREAUNew Delhi, December 28
THE DELHI METRO onMon-day achieved another mile-stone in the modern urbantransit,withthe inaugurationofIndia’s firstdriver-less trainoperations on the Metro’sMagenta Line by PrimeMin-isterNarendraModi.“With the achievement of
Metro rail without a driver,our country has joined theselect countries of the worldwhere such facilities areavailable,”Modi said.The national common
mobility card was alsoexpanded to the AirportExpress Line of Delhi Metro.This single cardwill give inte-grated access to the com-muters wherever they travel,whichever public transportthey take.Highlighting the ‘Make in
India’ component of themetro rail development pol-icy, Modi said that an all-round strategy had beenadopted by the governmentwithanemphasisonpromot-ing local standards, use ofmoderntechnology,reducingcosts and giving moreemployment. “Standardisa-tion of rolling stock hasreduced the cost of everycoach from `12 crore to `8crore now. Today, four bigcompanies are manufactur-ing metro coaches in thecountry and dozens of com-panies are engaged in themanufacture of metro com-ponents. This is helping‘Make in India’ as well as thecampaign for self-reliantIndia,”Modi pointed out.
Expansion of the metrorail operations and work ondifferent types of metro railin Indiahaspickeduppace inrecent years.While in 2014,only 5 cities had ametro rail,this transport system is nowavailable in 18 cities and isexpected to reach more than25 cities by 2025. In 2014,only 248 km of metro lineswereoperational in thecoun-try which has now grown tomore than 700 km. Govern-mentplans to increase this to
1,700 kmby2025.Metro operations are also
being diversified with theRegionalRapidTransitSystembetween Delhi and Meerut,MetroLite version in citieswherepassengernumbers areless andMetroNeoservices incities where the ridership isless. The other innovationbeing studied is watermetroforcitieswithlargewaterbod-ies which will provide last-mile connectivity to the peo-plenear the islands.
PRIME MINISTER NAREN-DRA Modi on Mondayflaggedoff the100thrunofKisan Rail from Sangola inMaharashtra toShalimarinWest Bengal in avideo con-ferenceevent.Railwayshavelaunched these Kisan Railstoprovidemobile cold stor-agetotransportperishableslike fruits,vegetables,milk,fish,amongothers.“The Kisan Rail project
notonlyshowsthecommit-ment of the government toserve the farmers but alsoservesasaproofofhowfastour farmers are ready fornewpossibilities,“Modisaid,in a veiled reference to theOpposition’s criticism ofignoring thewell-being offarmers.Healsopointedoutthatfarmerproducerorgan-isations and women self-helpgroupsarealsogettingpriorityinagri-businessandagri-infrastructure.“Recentreformswilllead
to expansion of agri busi-
ness and these groupswillbe thebiggestbeneficiaries.Private investment in agri-culturewillsupportthegov-ernment's effort to helpthesegroups,”Modisaid.Since the government is
drivingtheKisanRailserviceas a major step towardsincreasing the income offarmers,nominimumquan-tityhas been fixed to trans-port through Kisan Rail sothat even the smallest pro-duce can reach the bigmar-ketsproperlyata lowprice.Kisan Rail and Krishi
Udaan (agriculture flights)have made it possible forfarmers to sell their cropsin other states. Perishablerail cargo centres arebeingconstructed in the vicinityof railway stations wherefarmerscanstoretheirpro-duceandexperiences fromother countries and newtechnology are beingincorporated into Indianagriculture.— FEBUREAU
Modi flags off 100th Kisan Rail
Centre releases 9th instalmentof GST compensation paymentFE BUREAUNewDelhi, December 28
THE CENTRAL GOVERN-MENT has released the ninthinstalment of `6,000 croreGSTcompensationpaymenttothestates.Thestatesandunionterritories have so far received`54,000croreofthe`1.1lakhcrore to be disbursed by theCentre this fiscal.The central government
borrowsthefundsunderaspe-cialwindowandpasses itontostates in back-to-back loanarrangement.Theinterestratefor the latest loan instalmentwas 5.15%while the averageratefortheentireborrowingsofar is at 4.74%, the govern-ment said.While 23 states have been
allotted `5,516.6 crore in thisround of weekly instalment,theremainingmoney(`483.4crore) has been released to the3 union territories with leg-islative assembly (Delhi,Jammu & Kashmir &Puducherry) which aremem-bersof theGSTCouncil.“The remaining 5 states,
Arunachal Pradesh,Manipur,Mizoram, Nagaland andSikkim do not have a gap inrevenue on account of GSTimplementation,” the govern-ment said.AlthoughGSTregimehas a
mechanism of compensationcess fund,which ismade up ofcess proceeds, to be used forcompensating states in case ofshortfall belowtheirprotectedrevenueeachyear.Thisguaran-tee of revenue protection isbaked into the law and thestatesareentitledtoa14%y-o-ygrowthintheirGSTrevenue.However,sincelastyear,the
compensation cess fund hasprovedtobeinadequateforthepurpose.The central govern-mentproposedthisyearthatitwouldpaystatesthroughmar-ketborrowingbutmanystatesdidn’tagreewiththe`1.1lakhcroreestimatedshortfall.The Centre insisted that it
wouldonlypayto the extent ofshortfallduetoGSTimplemen-tation issueandnot`1.85 lakhcrore which is the revenuedeficit that includes the pan-demic-inducedslowdown.Afterinitiallogjam,allthestateseven-tually came on boardwith theborrowingscheme.In addition to providing
fundsthroughthespecialbor-rowing window to meet theshortfall inrevenueonaccountof GST implementation, thecentral government has alsogranted additional borrowingpermission equivalent to0.50%ofGrossStatesDomes-ticProduct(GSDP)tothestateschoosingoption-ItomeetGSTcompensationshortfalltohelpthem inmobilising additionalfinancial resources.“All the states have been
given their preference foroption-I.Permissionforborrow-ing the entire additionalamount of `1,06,830 crore(0.50 % of GSDP) has beengranted to28 states under thisprovision,”thegovernmentsaid.
PRESSTRUSTOF INDIANewDelhi, December 28
AGRICULTURE MINISTERNARENDRA Singh Tomar onMondaysaida"wallof lies"hasbeen spread in a "plannedmanner" among farmersagainst thenewfarmlaws,butitwillnotlastlongandprotest-ing peasantswill soon realisethe truth.Theminister reiterated he
remains hopeful to find anearly solution to end theimpasse.It's beenoveramonthnow
that thousands of farmers,especially from Punjab,Haryana and parts of UttarPradesh,are camping at Delhiborders seeking repeal of thethree farmlaws.They have threatened to
intensify their stir in the com-ing days if their demands arenot fulfilled.Sofar,fiveroundsofformal
talks held between the Centreand 40 protesting farmerunionsremainedinconclusive.After repeated requests from
the Centre to resume the dis-cussion to end the stalemate,theunionshavegivenDecem-ber29fortalks.The government, in
response, has written to theunions inviting them for talksonDecember30."Soon, some way out will
emerge and we will reachtowardsthesolution.Everyoneknows that the wall of lies isnever strong. Truth is truth.There is going to be a timewhen peoplewill start accept-ing the truth," Tomar saidaddressing a virtual eventorganisedbyConfederationofNGOsofRural India (CNRI).
‘Wall of lies’ to fall soon;hopeful of early solutionto impasses, saysTomar
Unionminister Nitin Gadkari
AgricultureministerNarendra SinghTomar
Pune
-
COMPANIES 3FINANCIALEXPRESSWWW.FINANCIALEXPRESS.COM TUESDAY, DECEMBER 29, 2020
Residential demandup,Gujarat realestate sectoron road to recoveryFE BUREAUAhmedabad, December 28
THE REAL-ESTATE SECTORinGujarat isgraduallyrecover-ing from the effects of theCovid-19 pandemic as inven-tory in the residential sectorhas started exhausting fast inwake of fresh demand fromreal buyers orendusers.Real-estate developers
were facing trouble selling in-ventory of over 70,000 resi-dential units across sixmajorcities — Ahmedabad, Surat,Vadodara, Rajkot,Gandhina-garandBhavnagar—after theCovid-19outbreakandsubse-quent lockdown, Ajay Patel,president of Gujarat Instituteof Housing and Estate Devel-opers (GIHED),said.
“However, since October,thescenariostartedtochange.Over the last two-and-a-halfmonths, almost 40,000 unitshave been sold in these cities.As a result of it real-estate de-
velopershavestartedregister-ing newprojectswith GujaratRealEstateRegulationAuthor-ity (RERA),”he said.As new inventorywould be
costlier than the current in-ventoryduetoincreasingratesofsteelandcement,manypeo-ple are purchasing residentialproperties.Another reason forthe fresh demand of residen-tial properties, especially af-fordable flats, is the reducedrateofhousing loans,he said.Apart from residential
units, there has been good de-
mand for plot schemes in thestate. As a result of the pan-demic,manypeopleareprefer-ring to stayon the outskirts ofthecities inopenspaceinsteadof smaller flats,he said.Unlike residential units
and plots, demand for com-mercial properties includingthat of offices and shops havebeen stagnant.There has been an increase
in newproject applications inOctober and November thisyearcomparedto2019duringthe same period,RERAchair-manAmarjitSinghsaid.“SinceApril, there has been negativegrowth in project applicationstill September2020.However,in themonth of October,150new projects were registeredwithRERA,whichis7%higherthanOctober2019.InNovem-beralso,123newprojects reg-isteredcomparedto117inlast
November.Projectinvestmentsduring the two months havealsogoneupfrom`5,790croreto `6,521 crore in the corre-sponding period. It is a goodsign forthe sector,”he said.At present end users are
buying residential propertiesand investors have not re-en-tered yet according to real-es-tate developers. If the stategovernment considers reduc-ing stamp duty, especially inthe affordable housing seg-ment,thesectorwouldfurtherget further push in this chal-lenging period, said a real-es-tatedeveloper.It would not only encour-
age people to register theirproperty at market rate in-stead of Jantri rates, but alsocondense the difference be-tweenthe twoprevailingratesand bring transparency in thesector,he said.
Place : MumbaiDate : 28.12.2020
Regd Office : 4 & 5, Near Advani Oeirlicion, LBS Marg, Bhandup (West) , Mumbai 400078; Phone No : 022-25968006, 25964268. Email: [email protected]: www.mayurfloorings.com
CIN L99999MH1992PLC064993
Notice is hereby given that the following Share Certificates issued by the company are stated to have been lost or misplaced or stolen and I, the registered holder thereof have applied to the company for the issue of DuplicateCertificates. FaceValue ofRs 10 each.
For Mayur Floorings LimitedSd/-
Akshita SundrawatAuthorised Signatory/Director
DIN: 08285675
Notice of Loss of Share Certificate
Sr.No.
FOLIONO
CERT NOFROM
DIST NOFROM
NO OFSHARES
DIST NOTO
59 000001 0037532 0037532 3732901 3733000 100 Mahavir N Sundrawat
52 000001 0035966 0035966 3576301 3576400 100 Mahavir N Sundrawat
54 000001 0035970 0035970 3576701 3576800 100 Mahavir N Sundrawat
56 000001 0036044 0036044 3584101 3584200 100 Mahavir N Sundrawat
53 000001 0035968 0035968 3576501 3576600 100 Mahavir N Sundrawat
61 000001 0043189 0043193 4298601 4299100 500 Mahavir N Sundrawat
65 000001 0050750 0050753 5054701 5055100 400 Mahavir N Sundrawat
66 M01181 0021042 0021046 2083901 2084400 500 Mahavir N Sundrawat
68 M01181 0028639 0028639 2843601 2843700 100 Mahavir N Sundrawat
63 000001 0047925 0047940 4772201 4773800 1600 Mahavir N Sundrawat
67 M01181 0028637 0028637 2843401 2843500 100 Mahavir N Sundrawat
72 M01181 0045326 0045326 4512301 4512400 100 Mahavir N Sundrawat
579240
47 000001 0035919 0035919 3571601 3571700 100 Mahavir N Sundrawat
69 M01181 0028641 0028641 2843801 2843900 100 Mahavir N Sundrawat
49 000001 0035925 0035925 3572201 3572300 100 Mahavir N Sundrawat
71 M01181 0028645 0028645 2844201 2844300 100 Mahavir N Sundrawat
55 000001 0035972 0035972 3576901 3577000 100 Mahavir N Sundrawat
70 M01181 0028643 0028643 2844001 2844100 100 Mahavir N Sundrawat
51 000001 0035948 0035948 3574501 3574600 100 Mahavir N Sundrawat
64 000001 0049917 0049925 4971401 4972300 900 Mahavir N Sundrawat
48 000001 0035923 0035923 3572001 3572100 100 Mahavir N Sundrawat
60 000001 0037604 0037604 3740101 3740200 100 Mahavir N Sundrawat
62 000001 0047401 0047450 4719801 4724800 5000 Mahavir N Sundrawat
50 000001 0035927 0035927 3572401 3572500 100 Mahavir N Sundrawat
58 000001 0037530 0037530 3732701 3732800 100 Mahavir N Sundrawat
57 000001 0036106 0036106 3590301 3590400 100 Mahavir N Sundrawat
10 000001 0021180 0021184 2097701 2098200 500 Mahavir N Sundrawat
25 000001 0034386 0034386 3418301 3418400 100 Mahavir N Sundrawat
30 000001 0034396 0034396 3419301 3419400 100 Mahavir N Sundrawat
20 000001 0034237 0034237 3403401 3403500 100 Mahavir N Sundrawat
33 000001 0034402 0034402 3419901 3420000 100 Mahavir N Sundrawat
35 000001 0034406 0034406 3420301 3420400 100 Mahavir N Sundrawat
37 000001 0034410 0034410 3420701 3420800 100 Mahavir N Sundrawat
9 000001 0016865 0017864 1666201 1766200 100000 Mahavir N Sundrawat
41 000001 0035671 0035671 3546801 3546900 100 Mahavir N Sundrawat
27 000001 0034390 0034390 3418701 3418800 100 Mahavir N Sundrawat
26 000001 0034388 0034388 3418501 3418600 100 Mahavir N Sundrawat
3 000001 0005794 0005831 559231 563030 3800 Mahavir N Sundrawat
6 000001 0006256 0006464 605301 626200 20900 Mahavir N Sundrawat
28 000001 0034392 0034392 3418901 3419000 100 Mahavir N Sundrawat
42 000001 0035794 0035794 3559101 3559200 100 Mahavir N Sundrawat
15 000001 0027233 0027236 2703001 2703400 400 Mahavir N Sundrawat
4 000001 0005850 0005868 564831 566730 1900 Mahavir N Sundrawat
18 000001 0033622 0033622 3341901 3342000 100 Mahavir N Sundrawat
2 000001 0003141 0005779 294001 557830 263830 Mahavir N Sundrawat
8 000001 0014865 0015864 1466201 1566200 100000 Mahavir N Sundrawat
14 000001 0027220 0027221 2701701 2701900 200 Mahavir N Sundrawat
5 000001 0005906 0005982 570431 578040 7610 Mahavir N Sundrawat
13 000001 0026096 0026100 2589301 2589800 500 Mahavir N Sundrawat
16 000001 0027598 0027600 2739501 2739800 300 Mahavir N Sundrawat
17 000001 0033591 0033591 3338801 3338900 100 Mahavir N Sundrawat
19 000001 0034041 0034041 3383801 3383900 100 Mahavir N Sundrawat
21 000001 0034239 0034239 3403601 3403700 100 Mahavir N Sundrawat
22 000001 0034241 0034241 3403801 3403900 100 Mahavir N Sundrawat
23 000001 0034382 0034382 3417901 3418000 100 Mahavir N Sundrawat
7 000001 0007705 0008344 750201 814200 64000 Mahavir N Sundrawat
11 000001 0021450 0021461 2124701 2125900 1200 Mahavir N Sundrawat
12 000001 0023938 0023938 2373501 2373600 100 Mahavir N Sundrawat
1 000001 0000201 0000201 1 100 100 Mahavir N Sundrawat
24 000001 0034384 0034384 3418101 3418200 100 Mahavir N Sundrawat
29 000001 0034394 0034394 3419101 3419200 100 Mahavir N Sundrawat
31 000001 0034398 0034398 3419501 3419600 100 Mahavir N Sundrawat
32 000001 0034400 0034400 3419701 3419800 100 Mahavir N Sundrawat
34 000001 0034404 0034404 3420101 3420200 100 Mahavir N Sundrawat
36 000001 0034408 0034408 3420501 3420600 100 Mahavir N Sundrawat
39 000001 0034464 0034464 3426101 3426200 100 Mahavir N Sundrawat
38 000001 0034412 0034412 3420901 3421000 100 Mahavir N Sundrawat
40 000001 0035655 0035655 3545201 3545300 100 Mahavir N Sundrawat
43 000001 0035798 0035798 3559501 3559600 100 Mahavir N Sundrawat
44 000001 0035829 0035829 3562601 3562700 100 Mahavir N Sundrawat
46 000001 0035917 0035917 3571401 3571500 100 Mahavir N Sundrawat
45 000001 0035867 0035867 3566401 3566500 100 Mahavir N Sundrawat
CERT NOTO
NAME OF REGHOLDER
Mayur Floorings Limited
Sr.No.
FOLIONO
CERT NOFROM
DIST NOFROM
NO OFSHARES
DIST NOTO
1 000002 0007545 0007585 734201 738300 4100 Padma Sundrawat
3 000002 0007589 0007589 738601 738700 100 Padma Sundrawat
2 000002 0007587 0007587 738401 738500 100 Padma Sundrawat
4 000002 0007591 0007591 738801 738900 100 Padma Sundrawat
5 000002 0007593 0007593 739001 739100 100 Padma Sundrawat
6 000002 0007595 0007595 739201 739300 100 Padma Sundrawat
8 000002 0007599 0007599 739601 739700 100 Padma Sundrawat
9 000002 0007601 0007601 739801 739900 100 Padma Sundrawat
10 000002 0007603 0007603 740001 740100 100 Padma Sundrawat
11 000002 0007605 0007605 740201 740300 100 Padma Sundrawat
12 000002 0007607 0007607 740401 740500 100 Padma Sundrawat
7 000002 0007597 0007597 739401 739500 100 Padma Sundrawat
13 000002 0007609 0007609 740601 740700 100 Padma Sundrawat
14 000002 0007611 0007611 740801 740900 100 Padma Sundrawat
19 000002 0007621 0007621 741801 741900 100 Padma Sundrawat
21 000002 0007625 0007664 742201 746200 4000 Padma Sundrawat
23 000002 0050914 0050914 5071101 5071200 100 Padma Sundrawat
22 000002 0021614 0021629 2141101 2142700 1600 Padma Sundrawat
16 000002 0007615 0007615 741201 741300 100 Padma Sundrawat
17 000002 0007617 0007617 741401 741500 100 Padma Sundrawat
11700
15 000002 0007613 0007613 741001 741100 100 Padma Sundrawat
20 000002 0007623 0007623 742001 742100 100 Padma Sundrawat
18 000002 0007619 0007619 741601 741700 100 Padma Sundrawat
CERT NOTO
NAME OF REGHOLDER
10 M01026 0016825 0016864 1662201 1666200 4000 Mayur Sundrawat
120000
11 M01026 0017865 0018104 1766201 1790200 24000 Mayur Sundrawat
5 M01026 0014345 0014424 1414201 1422200 8000 Mayur Sundrawat
6 M01026 0014465 0014544 1426201 1434200 8000 Mayur Sundrawat
3 M01026 0013865 0013984 1366201 1378200 12000 Mayur Sundrawat
2 M01026 0013745 0013824 1354201 1362200 8000 Mayur Sundrawat
1 M01026 0010185 0010264 998201 1006200 8000 Mayur Sundrawat
7 M01026 0014705 0014744 1450201 1454200 4000 Mayur Sundrawat
8 M01026 0016305 0016344 1610201 1614200 4000 Mayur Sundrawat
4 M01026 0014025 0014304 1382201 1410200 28000 Mayur Sundrawat
9 M01026 0016705 0016784 1650201 1658200 8000 Mayur Sundrawat
12 M01026 0020745 0020784 2054201 2058200 4000 Mayur Sundrawat
Sr.No.
FOLIONO
CERT NOFROM
DIST NOFROM
NO OFSHARES
DIST NOTO
CERT NOTO
NAME OF REGHOLDER
5 M01161 0009865 0009904 966201 970200 4000 Mayank Sundrawat
21 M01161 0020265 0020464 2006201 2026200 20000 Mayank Sundrawat
10 M01161 0013065 0013104 1286201 1290200 4000 Mayank Sundrawat
11 M01161 0013185 0013224 1298201 1302200 4000 Mayank Sundrawat
6 M01161 0010305 0010344 1010201 1014200 4000 Mayank Sundrawat
14 M01161 0013505 0013544 1330201 1334200 4000 Mayank Sundrawat
8 M01161 0010785 0010824 1058201 1062200 4000 Mayank Sundrawat
3 M01161 0009625 0009664 942201 946200 4000 Mayank Sundrawat
12 M01161 0013265 0013304 1306201 1310200 4000 Mayank Sundrawat
20 M01161 0016585 0016624 1638201 1642200 4000 Mayank Sundrawat
18 M01161 0016105 0016304 1590201 1610200 20000 Mayank Sundrawat
15 M01161 0013825 0013864 1362201 1366200 4000 Mayank Sundrawat
19 M01161 0016505 0016544 1630201 1634200 4000 Mayank Sundrawat
23 M01161 0020785 0020904 2058201 2070200 12000 Mayank Sundrawat
2 M01161 0007465 0007544 726201 734200 8000 Mayank Sundrawat
1 M01161 0005869 0005905 566731 570430 3700 Mayank Sundrawat
9 M01161 0012865 0012944 1266201 1274200 8000 Mayank Sundrawat
13 M01161 0013345 0013464 1314201 1326200 12000 Mayank Sundrawat
155700
7 M01161 0010385 0010464 1018201 1026200 8000 Mayank Sundrawat
22 M01161 0020625 0020704 2042201 2050200 8000 Mayank Sundrawat
4 M01161 0009705 0009744 950201 954200 4000 Mayank Sundrawat
16 M01161 0013985 0014024 1378201 1382200 4000 Mayank Sundrawat
17 M01161 0015905 0015944 1570201 1574200 4000 Mayank Sundrawat
Sr.No.
FOLIONO
CERT NOFROM
DIST NOFROM
NO OFSHARES
DIST NOTO
CERT NOTO
NAME OF REGHOLDER
The public is hereby warned against purchasing or dealing in any way, with the above Share Certificates. Any person(s) who has/have any claim(s) in respect of the said Share Certificates should lodge such claim(s) with the
Company at its registered office at the address 4/5 Munama Compound, Nr Ocirlicon Bhandup West, Mumbai 400078 within 15 days of publication of this notice, after which no claim will be entertained and the Company will
proceed to issue duplicateShareCertificates.
Total shares Total shares
Total shares
Total shares
Anyone interested for an outright purchase of
the propertymaycontactMr.OscarFernandes
(Mobile No.- 9833263519) between 2 p.m.
to 4 p.m. within a period of 45 days from the
date of publication of this notice.
Net PlotArea - 2214Sq.Mtrs.
PlotArea - 2480Sq.Mtrs
A Housing Society situated near Western
ExpressHighway and close to domestic and
international airports, close to Andheri (East)
and Vile Parle (East) Stations and situated
near upcoming metro station has decided to
consider the outright sale of its property
subject to receipt of suitable offers. The
details of the property are as under :-
Total Carpet Area of existing flats of
members - 25057Sq. Ft.
Dated this 29th day of December, 2020.
NOTICE
AVAILABLE International
Couriers Worldwide
Services (DHL) USA,
Dubai, Japan, China,
New Zealand. For
Details Call 7045601444,
22703881. Pickup Fort.
0070721525-1
COURIER
SERVICES
CLASSIFIEDS
''IMPORTANT''
Whilst care is taken prior toacceptance of advertising copy,it is not possible to verify itscontents. The Indian Express(P.) Limited cannot be heldresponsible for such contents,nor for any loss or damageincurred as a result oftransactions with companies,associations or individualsadvertising in its newspapersor Publications. We thereforerecommend that readers makenecessary inquiries beforesending any monies orentering into any agreementswith advertisers or otherwiseacting on an advertisement inany manner whatsoever.
I, We M/s Harijan Sewa SanghTr a v e l A g e n c y, h o l d i n g aReg is t ra t i on Cer t ifica te No .4151/BOM/PER/300/2/3/4/6564/2004, under the Emigration Act.1983 for export of manpower hadclosed down our business witheffect from 08/05/2007. In the event,if there is any complaint/claimagainst me/us the same may ber e f e r r e d w i t h i n 3 0 d a y s o fpublication of this notice. Copies ofthe complaint may also be sent toProtector General of Emigrants,Min is t ry o f Externa l Affa i rs ,Akbar Bhawan, Satya Marg,Chanakyapuri, NewDelhi- 110021.
NOTICE
W/o Late Shri Chandan Bihari Lal Raja(Ex-Proprietor)
Address : Raja House 61,Waroda Road,
Bandra (W) Mumbai - 400050
Sd/-Mrs. Rajni Chandan Raja
Station: Mumbai / Date: 29-12-2020
Covid vaccine:2-day dry runbegins inAssam
A TWO-DAY dry run for theCovid-19 vaccination pro-grammebegan inNalbari andSonitpurdistricts ofAssam,onMonday,healthdepartmentof-ficialssaid.Fivehospitalsineachdistricthavebeenchosenfortheexercise,officialssaid.Manage-mentofpossibleadverseeventsaftervaccinationandchecksoncold storage and transportarrangements are parts of thedry run, Nalbari CMHO DrNaliniBarmansaid. —PTI
As new inventorywould
be costlier than the
current inventory due to
increasing rates of steel
and cement, many people
are purchasing residential
properties, saidAjay
Patel, president of Gujarat
Institute of Housing and
Estate Developers
Pune
-
Tips Industries andFacebook ink globallicensing dealMUSICRECORDLABELTips IndustriesonMondayannouncedaglobaldealwithsocialmediagiantFacebooktolicenseitsmusicforvideosandothersocialexperi-encesacrossFacebookandInstagram.“Ithas been a big and significant year forTips music, as the company signsanother global deal with the biggestsocialmediaplatformintheworldFace-book to license itsmusic forvideos andothersocialexperiencesacrossFacebookandInstagram,”TipsIndustriessaid.
FlipkartWholesaleapplogs75%jumpincustomerbaseFLIPKARTWHOLESALEAPP,whichcurrentlyoffersfashionproductstoretailersin23cities,witnessed75%month-on-monthgrowthincustomerbasesinceitslaunchinSeptember,accordingtothecompany.Encouragingtrendshaveemergedfromretailersinsmalltownswhohaveoptedfore-commerceasapreferredmodetodobusinessatease,thecompanysaid.
HeroElectrictiesupwithstart-upeBikeGOHEROELECTRICONMondaysaid ithas tiedupwithe-mobilitystart-upeBikeGOtosupplyover1,000bikes totransformlastmiledeliveries.eBikeGowillprocure theseHeroElectricbikes throughthenextfinancialyearwith the firstbatchof120alreadydelivered to the startup,thecompanysaid.
TataPowerinaugurates5kWbiogasplantinBiharTPRENEWABLEMICROGRID,awholly-ownedarmofTataPower,onMondayannouncedinauguratinga5kWbio-gasplantinMuzaffarpur,Bihar.Theplantconsumescowdungwhichisprocuredfromnearbyvillagesandthenprocessedthroughabio-digestertogeneratemethanegas,TPRMGsaid.
Agri-techstart-upAqgromalinraises`2crAGRI-TECHSTART-UPAQGROMALINonMondaysaidithasraised`2crorefromangelinvestorsparticipatingfro-mtheWestAsia.Thefirmaimstoutilisethecapital insettingup500micro-farmsinthestatesofTamilNadu,Telangana,andAndhraPradesh,itsaid.Aqgromalinsupplementstheincomeofsmall landholdingfarmersthroughreadytoimplementmicro-farms.
NTPCdeclaresDulangaminecommerciallyoperationalSTATE-OWNEDPOWERGIANTNTPConMondaysaiditsDulangacoalmineiscommerciallyoperationalfromOctober1,2020.“...Basedonachievementofapprovednormsanddueapproval;DulangaCoalMine(inOdisha)ofNTPC,havinganultimatepeakratedannualcapacityof7MTPA,isdeclaredcommer-cialoperationfromOctober1,2020,aBSEfilingsaid.
LupinlaunchesgenericdrugintheUSmarketDRUGFIRMLUPINonMondaysaidithaslaunchedMeloxicamcapsules,usedfortreatingosteoarthritis(OA)pain,intheUSmarket.ThefirmhaslaunchedtheproductafterhavingalreadyreceivedapprovalfromtheUSFoodandDrugAdministration,Lupinsaid.
EPLgetsAssociationofPlasticRecyclers’recognitionSPECIALTYPACKAGINGCOMPANYEPL,formerly EsselPropack, hasreceiv-edglobalrecognitionfromtheAssocia-tionofPlasticRecyclers(APR),US,foritsPlatinatubewithanHDPEclosure.EPL’sPlatinaisthefirstfullycompletelyrecy-clabletube,includingshoulderandcap,tohaveanintegratedshoulderInnerBarrierLiner(IBL),whichisalsorecycla-bleinHDPErecyclestream.Platinacanberecycledintoplasticstream.
VoltUppartnerswithHPCLforbatteryswappingcentresELECTRICTWO-ANDthree-wheelerbatteryswappingsolutionsstart-upVoltUponMondaysaidithaspartneredwithHindustanPetroleumCorporationLtd(HPCL)foropeningbatteryswappingcentres.
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TUESDAY, DECEMBER 29, 2020
❝ ❝
SAFETYAND EFFICACYAdar Poonawalla, COO, Serum Institute of India
All thedatahasbeensubmitted in Indiaand theUK.We
must respect theprocessofthe regulators,whoare
evaluatingdataanddocumentation.Nobodywants to
compromiseon thesafetyandefficacy. SII,Oxfordand
AstraZenecawant toadhere to thehighest levels.
PRESSTRUSTOF INDIANewDelhi, December 28
TELECOM SERVICE PROVIDERS expectthe government to take immediate stepstoresolvetheissuesofthesectorwhichhasplayed the role of anenabler forotherkeyindustryverticalsandsupported30-35%ofGDPduring theCovid-19 crisis, indus-trybodyCOAIsaid.COAIdirectorgeneralLtGenSPKochhar
told PTI that the telecom sector needs tomake huge investment in infrastructureandneedsregulatorysupport,reviewoftheadjusted gross revenue (AGR) definition,GST exemption on AGR dues, promisesmadeinNationalDigitalCommunicationsPolicy2018foreaseofdoingbusinessetc.“Telecom is not a vertical industry in
itself; rather it is an enabler of horizontalgrowth across industries, be it manufac-turing, e-commerce, health care, educa-tion and so on.Thus, the concerns affect-ing the telecom industry become theconcerns of these industries, and so theissues of telecomneed to be addressed asan issue affecting the overall economyofthecountry,soitshouldbegivenpriority,”Kochharsaid.He said that the transformation that
was seen in 2020 after the pandemic hasfurther proved how telecom acts as agrowthcatalyst inadigital society.“Telecom has enabled 30-35%of the
GDPintheCovid-19lockdown,otherthanthepresent6%direct contribution to theGDP.This is significant considering thefactthatoverall,54percentofIndia’sGDPcomes from the services sector,”Kochharsaid.The sector narrowly escaped financial
collapsefollowingtheapexcourtuphold-ingthegovernment’smethodtocalculaterevenuesharewithtelecomoperators.Theruling burdened telecom operatorswithtotalduesofaround`1.47 lakhcrore.“Some of the top challenges faced by
ourmemberTSPs today are those relatedtoAGR issues, spectrumpricing,Right ofWay(RoW) rules,andcell towerradiation.COAI has been pressing the governmentandTraion these,”Kochharsaid.The successful bidders in the upcom-
ingauctionofspectrumworth`3.92lakhcrorewillalsoneedtopay3%AGRonrev-enue.The telecom sector has demandedthe government to review the definitionofAGRtomakebusiness sustainable.
TheCOAIDGsaidthatthegovernmentshould exempt the levyof GSTon licencefees,spectrumusagechargesandpaymentofspectrumacquiredinauctions.Kochharsaid that the industry has accumulatedunutilised input tax of about `35,000crore.This should be refunded immedi-atelytoenhancecashflowsoftheindustry.“To ensure continuity in service and
meet SLA (service level agreement), tele-comprovidersneedtopreparetheirinfra-structure.Networkcongestion,mainlydueto dearth of cell towers, has been deeplyimpactingtheservicesacrossIndia.Muchinvestment and regulatory support areneeded to address these challenges,”Kochhar said.He said that there is a needfor identification of a clear roadmap foravailabilityof spectrum.“Spectrum harmonisation plans
shouldbeput inplacebythegovernmentinconsultationwithTSPs(telecomserviceproviders & OEMs (original equipmentmakers) to support full range of futuretechnologiesincludingM2Mandinternetof things services,”Kochharsaid.
Telcosexpect immediatestepsfromgovt forresolution:COAI
● INDUSTRYWOES &AGR DEFINITION
GEETANAIRPune, December 28
SERUM INSTITUTE OF India (SII), theworld’s largestvaccinemanufacturer,willbe ready with 300 million doses of theCovishieldOxford-AstraZeneca Covid-19vaccine by July 2021. Adar Poonawalla,COO,SII,said theyhave a stockpile of 40-50 million doses already and more arebeing produced every week. Onceapprovals come in a few days, it will bedown to the government to decide howmuchtheycantakeandhowfast theycantake it,Poonawalla said.“Wewillbereaching300 milliondoses
byJuly2021,”Poonawallasaid.“Inthefirstone or twomonths the offtakewould beslow.Oncethelogisticsworksoutwell,theroll-outwecanexpect in January2021.”Speaking on the approval for the Cov-
ishieldvaccine,Poonawallasaid,therewillbe good news from the UK very soon.Emergencyuse licensure should come inend of December or early January andsimultaneously we hope to get that inIndiatoo,Poonawallasaid.“Allthedatahasbeen submitted in India and the UK.Wemustrespecttheprocessoftheregulators,who are evaluatingdata anddocumenta-tion.Nobodywantstocompromiseonthesafety and efficacy. SII, Oxford andAstraZenecawanttoadheretothehighestlevels.”Therewas no concern of anykind and
enoughtimehadtobegivenastheregula-torsreviewthedatafromtheglobalmulti-centric trials,headded.SII will bemanufacturing around 60
milliondosesamonthfromthetwoplantsinPune.ThethirdplantwillbereadybytheendofMarch2021andwill takemonthlycapacityto100milliondoses,Poonawallasaid.Initially,Indiawill haveapriorityforthe doses and therewill be plenty of vac-cinesforIndiaandotherCOVAXcountries,he said.There could be a shortage in thefirstsixmonthsof2021,butitwilleasebyAugust or September 2021 as other vac-cinemanufacturerswill start supplying,Poonawalla said.Around50%ofSII stockwouldbegoing toCOVAXcountries.Apart from the Oxford-AstraZeneca
andNovavax vaccines,SII is alsoworkingontwoof itsownCovid-19vaccinecandi-dates.“OurvaccineistobelaunchedinJan-uary2022.WearestaringatPhase-I trialsinUKwithCodagenix.ThereisanotheroneRBDvaccinewith SpyBiotechwhich is inPhase II trials,”Poonawalla said.SII onMonday launched India’s first
indigenously developed pneumococcalvaccine called Pneumosil, that has beendeveloped through a decade-long collab-orationwith PATH and Bill andMelindaGates Foundation and is tailor-made forIndia.DrRajeevDhere, chief scientist at SII,
said the newPneumosil vaccine has a lotofimportanceforkidsandinfantsasthereisnoCovid-19vaccinemadeanywhere intheworld for kids. Pneumonia is an out-come of the viral infection and aswe donot have anyCovid-19 vaccine for infantpopulation so it becomes all the moreimportant to protect children from thissecondary infection,he said.Vaccinatingchildrenwith this Pneumococcal vaccinewill help avoid secondary complicationslike pneumonia and it ismore relevant inthecurrentcircumstances,DrDheresaid.Threeshotsof thevaccinewouldgivekidsprotection.Poonawallasaidtheministryofhealth
andfamilywelfarehasfloatedatenderforthe Pnumococcal vaccine. “We hope tohavecoverageof70-80%overnexttwotothree years and bringing downmortalitydramatically.Thevaccineisroughlyathalfthe price of some imported vaccines andwillcost $10intheprivatemarketand $3inthegovernmenttenders,”hesaid.Thereare around one lakh deaths every year inIndiabecauseofpneumonia.Withhighcov-erage, the country could avert 60,000 to70,000deaths,hesaid.Withthislaunch,SIIhas become theonlyworld’s third supplierofpneumococcalconjugatevaccines.
Serum Institute ofIndia tomake 300mvaccine doses by July
PRESSTRUSTOF INDIANewDelhi, December 28
ADANI INTERNATIONAL CONTAINERTerminal (AICTPL) on Monday said itsmaiden $300million bond issuancewit-nessed10timesoversubscription.
AICTPL,a JVbetweenAdani Ports andSpecial Economic Zone (APSEZ) andTer-minal Investment Ltd (TIL), is a containerterminaloperatingcompanybasedoutofMundra, having an annual capacity ofhandling over 3.1million TEUs (twentyfootequivalentunits).“AICTPLsettledits first$300mnpub-
licUSDbond issuanceon21stDecember2020.The issuewitnessed large partici-pation from marquee real moneyinvestors with interests coming fromaround 220 accounts leading to approx.10timesoversubscription.Theissueof10Yearswaspricedatpar toyield3%whichis also the lowest couponachievedbyanycorporateIndianissuerinthelast5years,”the companysaid in a statement.
It said investorswere attracted by itsstrong shareholders, APSEZ & TiL, andtheir combined business strengthsembedded in the company,backedbythecreditqualityoftheissuancesupportedby
investmentgraderatingaffirmationbyallthree international ratingagencies.
The issuance is in line with AdaniGroup'sphilosophytotapthecapitalmar-kettore-engineerthecapitalstructureforassetsandfinancethemwithdebtextend-ing forthe lifeof theproject.
Barclays,Citigroup,DBSBank,MUFG,andStandardCharteredwereglobalcoor-dinators, book-runners, and lead man-agers.
Karan Adani, CEO and Whole TimeDirectorofAPSEZ said,“The issuance is inline to the group's capital managementphilosophy of re-engineering the capitalstructure andextendingdebtmaturity inline to the life of asset.Our relationshipwithTILisveryimportant tousandholdsthekeytoourstrategyformakingMundracontainer hub for the region andAICTPLasourflagship terminal.”
Successful issuancedemonstratestheappreciation and acceptance of level ofcorporate governance at the private JVlevel, he said adding, the first noteissuancebyanyportvertical jointventurecompanyalso paves thewayand sets thebenchmark for other JVs and subsidiarycompaniesof thegrouptotapthecapitalmarket.
Business as usual for Indian IT,pharmacompanies post-Brexit, say industryveterans
PRESSTRUSTOF INDIABengaluru, December 28
THE FOUNDER OF theMaini Group,DrSudarshanKumarMaini,whoencouragedhis son Chetan Maini to commercialiseIndia's first electric carReva,has died,hisfamilysources saidonMonday.According to familymembers,Maini
died in Bengaluru at his residence onDecember26afterprolongedillnessattheageof87.He is survived by wife Reva and three
sons,Chetan,GautamandSandeep.HailingfromPunjab,Mainiestablished
theMainiGroup in1973.Under his stewardship, the firm grew
to a multi-unit group of six companieswithover1,500employeesspreadover14locations.HeencouragedhissonChetantocom-
mercialiseIndia'sfirstelectricvehicleRevacar,namedafterhiswife.Mainihaddonehisdegree inmechan-
ical engineering from the Banaras HinduUniversity.Hehad studied industrial administra-
tion in theUnitedKingdom.Forsixyearsfrom1967hewasthegen-
eralproductionmanagerforMICO-Boschin Bengaluru and later launched his owncompanyMainiGroup.Mourninghisdeath,BioconchiefKiran
Mazumdar Shaw tweeted, "CelebratedIndustrydoyen and founderof theMainiGroup SudarshanMaini passed away on26thDecemberafteraprolonged illness.Hewillberememberedasapioneering
entrepreneur who supported his sonChetan to commercialise Indias first EVReva,hiswifesname.Mayhis soulRIP."
Adani InternationalContainerTerminal’s$bond issuanceoversubscribed10 times
PRESSTRUSTOF INDIANewDelhi, December 28
NETOFFICE SPACE leasing fell 44%year-on-yearduring2020 to25.82million sq ftacross seven major cities as corporatesdeferredtheirexpansionplansandadopted'work from home' policy for employeesbecauseoftheCOVID-19pandemic,accord-ingtoareportbyJLLIndia.
Net leasingofofficespacestoodat46.5million sq ft in 2019across seven cities—Delhi-NCR, Mumbai, Chennai, Kolkata,Hyderabad,PuneandBengaluru.The consultant, however, noted that
officespacedemandrose52%duringOcto-ber-Decemberperiodof2020 to8.27mil-lionsq ft from5.43millionsq ft in thepre-viousquarter.During January-March,net absorption
of office space stood at 8.8 million sq ft,whichplunged to3.32million sq ft during
the secondquarterof this calendaryearonaccountofthenationwidelockdowntocurbcoronaviruspandemic.“Theyear2019 sawhistoric highswith
net absorption crossing46million sq ft.In2020,netabsorptiondippedby44%whencomparedto2019.“However,a comparison to the average
annualnetabsorptionlevelsbetween2016
and 2018 elucidates amore realistic andthus resilient nature of the Indian officemarket,”saidRameshNair,CEOandCountryHead,JLLIndia.Ledbythe southernmarkets ofHyder-
abad,Chennai andBengaluru,net absorp-tionlevelsin2020reached81%ofwhatwasobserved between 2016 and 2018, headded.“Theoffice real estatemarketwasmost
impactedas lockdownmeasuresdisruptedthewaywework.Corporates had to adoptwork fromhome as an alternative,whichbroughtinitswake,anewsetofpossibilitiesandchallenges,”JLLsaid.“Perceptions around the scale and
potential of remoteworking changed.Ear-lier,theviewwas that remoteworking as aconcept would not work in India. Thischangedwith the remoteworking experi-ment proving to be fairly successful for amajorityoftheorganisations,”itadded.
PRESSTRUSTOF INDIABengaluru, December 28
THE UNITED KINGDOM leaving the sin-gleEuropeanUnionmarketwouldhavenoadverse impact on India's informationtechnology and pharmaceutical compa-nies and itwould be business as usual forthempost-Brexit, say key industryveter-ans.
There won't be anymaterial impactbecause the U.K. already has a goodVisa
regime for Indian techies, former ChiefFinancial Officer of Infosys,VBalakrish-nan,toldPTIonMonday.
“So also Europe. So,we don't thinkthat is going to drastically change post-Brexit”,thepartnerandchairmanofExfin-ityVenturePartners said.
“Earlier also,onVisa, they had to dealwith theU.andEuropeseparately”.Biotechmajor Bioconexecutivechair-
person of Kiran Mazumdar-Shaw saidIndian Pharma is a key player in the UK
market.“I believe that post-Brexit, India has
anopportunity to strengthen its bilateraltrade in several key areas, pharma beingoneof them”,Mazumdar-ShawtoldPTI.
Shesaid(theU.K.'s)MHRA(Medicinesand Healthcare products RegulatoryAgency) and (India's) CDSCO (CentralDrugs Standard Control Organisation)have a strong partnership opportunity tobuild a reciprocal regulatory recognitionmodel throughclosecooperation.
PRESSTRUSTOF INDIANewDelhi, December 28
WITH STEADY MONTH-ON-MONTHrecoverycontinuinginNovemberandfes-tiveshoppingbringingsomerespitetotheretail industry, retailers are looking for-ward to 2021 with cautious optimism,accordingtoRAI. RetailersAssociationofIndia(RAI) inits10th'RetailBusinessSur-vey' said sales in November 2020 were13%shortonayear-on-year(y-o-y)basis.Last month, consumer durables and
electronics categorycontinued to recoverwitha12%increaseinsalesoverthesamemonth last year,while food and grocerycategory has indicated growth at 5%, itadded.Apparel and clothing segment isstill reelingunderpressurewith a declineof 12 per cent against the pre-pandemicsales,RAI said.Commentingonthefindings,RAICEO
KumarRajagopalan said,“While the fes-tiveand themutedweddingseasonaidedsome recovery for certain segments, thelack of inbound travel of non-residentIndiansduringthewinterhashadanega-tive impactonsales”.
SKMaini ofMainiGroup,promoterof India’s first e-carReva,dies at 87
Retailers looking at2021with cautiousoptimism: RAI
Work fromhome hits office demand; net leasingof office space drops 44% in 2020: Report
PRESSTRUSTOF INDIANewDelhi, December 28
COMMERCIALVEHICLE SALES in Indiacould take longer to recover thanexpecteddespiteimprovingmacro-economicindica-tors, according to India Ratings andResearch(Ind-Ra).Thelightcommercialvehicles(LCVs)seg-
menthasstartedtorecoveras theyprovidelast mile connectivity and because ofincreased e-commerce activities butmedium and heavy commercial vehicle(MHCV) sales areunlikelyto recoverbeforethefourthquarterof2021-22,itsaid.TheratingsagencyreiteratedthatMHCV
sales coulddeclineby35-45percentyear-on-year inFY21,though thedecline inLCVsalesislikelytobecontainedwithin20-25%."In FY22, the industry could see sales
growthindoubledigits,especiallyduetothelowbase of FY20-FY21," it said in a state-
ment.Stating that there is excess systemcapacityandreducedlowerfleetutilisation,Ind-Ra saidduringApril-September2020,CVsalesvolumesdeclined56%y-o-y,withasteeperdeclineof76%recordedinMHCVs.CitingFederationofAutomobileDealers
Associations (FADA) data, it said that CVretail sales grewsequentially inNovember2020(up13%fromOctober).However,it remainsfarbehindtheaver-
agemonthly sales recordedduring FY19-FY20.SalesvolumeinNovemberwasdown31percenty-o-y."TheMHCVsub-segment,whichwasalreadygrapplingwiththeexcesscapacitycreated in the systempost imple-mentationoftherevisedaxleloadnormsinJuly2018andpeak sales achievedduringFY18-FY19,suffered significantlywith theonset of COVID-19as economic activitiesreachedanall-time lowcoupledwithcapexdeferrals across sectors,"the ratingsagencysaid.
CVsales in Indiamay take longerto recover thanexpected: Ind-Ra
SII will be manufacturing around
60 million doses a month from the
two plants in Pune. The third plant
will be ready by the end of March
2021 andwill take monthly
capacity to 100 million doses,
Poonawalla said
COAI director general said that the
transformation that was seen in
2020 after the pandemic has
further proved how telecom acts
as a growth catalyst in a digital
society
Pune
-
FE BUREAU
NewDelhi, December 28
SOLARANDWINDpowerplantdevelopers inAndhra Pradeshhave sought theCentre’s inter-ventiontocleartheoutstandingdues of around `3,000 croreowed to thembythe state-runpowerdistribution companies(discoms).Although the Andhra
Pradesh High Court had di-rected thediscomstopaythesepower plants at a provisionalrateof`2.43/unit—againstthe`4.84/unit tariff theywere re-ceivingearlier—tillthedisputesareresolved,renewablegenera-tion companies have com-plainedthattheyhavenotbeenreceiving payments regularlyevenatthereducedrates.Over-due— receivables pending formore than 60 days — has in-creased 30% since April to`2,921croreatOctober-end.As much as 8,000
megawatts(MW)renewableen-ergycapacitieswhichhavebeenhit bythe state’s decision to re-vise power purchase agree-ments(PPAs)andpowercompa-nies are seeking compensationagainst lower tariffs paid tothem,andhavepegged theun-der-recoveries at around`5,000crore.TheHighCourt had struck
downthestategovernmentor-deron renegotiatingPPAs,andinstructed discoms to powerplants at an interim reducedratetillthelegaldisputesarere-solved.Someof the generatorshavenot beenpaid sinceApril,industry body National SolarEnergy Federation of India(NSEFI)said.UndertheCentre’s`1.2lakh
crore liquidityinfusionschemeto clear the outstanding duesowed to power producers,Andhra Pradesh has been ap-proved`6,600crore,andhasre-ceived`3,300 crore accordingto the design of the schemewheredisbursalsaretobemadeintwoequaltranches.ThestategovernmenthadrequestedPFCand REC to disburse an addi-tionalamountofloanunderthefirst tranche itself to clear theduesofrenewableenergyfirms.In a recent letterwritten to
UnionpowerministerRKSingh,NSEFIsaidthat“werequestyou
to intervene in the matter sothat immediate disbursementismade byPFC/REC to renew-able energygenerators havingPPAswithAPdiscoms”.“Even though this interim
tariff provides a slight relief tothe project developers, it is notenoughtoservicedebtandnotreceiving this interim tariff ontime is jeopardising interna-tionalandalsodomesticinvest-ments,”NSEFI’sletter,reviewedbyFE,added.The state government,
against theadviceof thepowerministry, had formed a com-mittee to revise “abnormallypricedwind and solar”PPAs inJuly2019,saying theremighthave been linked with “malafideintentions”andcouldhave“resultedintheunjustifiedbur-den on the consumers of thestate”.
ECONOMY 5FINANCIALEXPRESS
WWW.FINANCIALEXPRESS.COM TUESDAY, DECEMBER 29, 2020
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