January 21, 2021
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A child first companion which they show off happily everywhere. They share their moments of joy, sorrows everything with them. A toy plays an important role in emotional well-being of child. A toy brings smile to a crying child. Whenever we travel back in memory lane of childhood. we recall all the toys we cherished, a precious gift. There were few toy options earlier like Wooden toys and clothes based. Now a days there is endless variety starting from soft toys, electronic toys, illuminating toys. Talkative toys, music toys are day to day need.

Majority of toys are imported. Some of them do not offer quality products but in race of price sensitive markets they are available in bulk. Now Indian Toy industry is also advanced. They can give fair competition having wide range of toys from traditional to board games. There are number of artists behind Indian toys who is keeping our culture and heritage alive.

Let’s promise to support home grove toy manufactures and increasing employment also for our artists. With each toy sale light their homes and bring the radiance of their happiness to your homes. Let’s support make in India toys.

Author : Shipra Dhingra

Corporate

The Plastics Export Promotion Council of India (PLEXCONCIL), the apex trade body for plastics exports sponsored by the Union Ministry of Commerce & Industry, Government of India, announced the appointment of Mr Arvind Goenka (M/s. RMG Polyvinyl India Ltd.) as Chairman and Mr. Hemant Minocha (M/s. Rajiv Plastics Pvt Ltd.) as Vice Chairman amongst other office bearers of its newly constituted Committee of Administration (COA) after its recently held AGM.

The Regional Chairmen are as follows:  Regional Chairman WEST – Mr Saurabh Kalani (M/s. Flexituff Ventures International Ltd.; Regional Chairman EAST – Mr. Prasan Lohia (M/s. Merino Industries Ltd.); Regional Chairman SOUTH – Mr. Y.V. Raman (M/s POCL Enterprises Ltd.); and Regional Chairman NORTH – Mr Vikram Bhadauria (M/s. Alok Maslebatches Pvt Ltd.).

The Panel Chairmen are:  Mr. Jagdish Gupta (M/s. Stylam Industries Ltd.) – Panel Chairman Floor Coverings, Leather Cloth & Laminates; Mr. Pradip Thakkar (M/s. Mechemco Industries) – Panel Chairman FRP Products; Mr. Dhruv Sayani (M/s. Crystal Plastics & Metallizing Pvt Ltd.) – Panel Chairman Consumer & Houseware; Mr. Benjamin Cherian (M/s. Raj Hair International P.Ltd.) – Panel Chairman Human Hair & Related Products; Mr. Vimalchand Rathod (M/s. Flair Pen and Plastic Industries Pvt Ltd.) – Panel Chairman Writing Instruments; Mr. Rajiv Chitalia (M/s. Electrofocus Electricals Pvt Ltd.) – Panel Chairman Miscellaneous Products; Mr. P. Mohan (M/s. Sakkthi Polymers) – Panel Chairman Pipes & Fittings; and Dr. S.S. Rajpathak (M/s. Garware Technical Fibres Ltd.) – Panel Chairman Cordage & Fishnets.

Mr. Arvind Goenka, Chairman, PLEXCONCIL, said, “Plastics are perhaps one of the most versatile products and are being increasingly used in a wide range of applications. We request Government to frame an attractive PLI scheme for boosting polymer production and becoming AtmaNirbhar.

A PLI scheme is very important to enable manufacturers invest in plant & machinery and increase their capacity. Backed by strong government support-planned investment of over USD 50 million, as many as 10 plastic parks with state-of-the-art infrastructure are being set up to boost domestic production, employment and achieve environmentally sustainable growth.” He added, “I have made it my mission to focus on the Council’s primary objective of expanding our membership multi-fold in a 50,000 strong processing industry if we are to achieve our US$ 25 billion target. We have also identified 50 specific product groups that have immense export potential.

The Council will provide credible information about export markets to its members regularly by way B2B exhibitions, seminars, participation in foreign exhibitions and also by way of setting up warehouses & permanent exhibitions in markets like USA & Europe.”

Talking about the key priorities, Mr. Goenka added, “PLEXCONCIL is of the view that the RoDTEP rates for plastics products should be fixed in line with MEIS rates. Indian processors are not at level playing field when comparing our cost of production to those enjoyed by our competitors in the ASEAN region.

Logistics form a very integral part of export cost to plastics’ processors and this must be reduced in line with global average to boost our competitiveness. Logistic costs & Electricity costs are very high in India as compared to NEA countries. Either reasonable rates are offered to exporting units or a reasonable RoDTEP rates are fixed to partly compensate the extra costs.

Free Trade Agreements need to be renegotiated to boost plastic exports. India’s plastics are mainly exported to Europe, North America and WANA region; and we urge the Government to forge a trade agreement with these regions/countries to increase opportunities and recognition for Indian manufactured products in these regions.”

Members of PLEXCONCIL have suggested that the Government should reduce the lead time for refunds (MEIS / GST) for exporters; reinstate GSP and sign an FTA with major export destinations particularly the United States; increase the rate of Drawback; simplify manufacturing and customs laws; improve the import clearance assessment systems; and work towards improving the Ease of Doing Business in India.

About Free Trade agreements, Mr. Goenka was of the view that India is losing on exports of Value added plastic goods for export to USA, UK, WANA regions due to no Free Trade Agreements and also not benefitting under the ASEAN & SAARC FTA’s as they were not negotiated favouring plastic finished goods exports. Rather they favour imports of plastic finished at NIL or highly preferential rates.

Share of imports from India is less than 2% in case of UK & USA and less than 1% in case of EU-27 & ASEAN. Share in Africa’s imports is 4% and that with SAARC is only 15% for plastic goods. It would be his endeavor to bring this to the knowledge of the policy makers and request that existing FTA agreements be negotiated favoring plastic exports from India and new agreements be forged with importing blocs to increase presence of India’s plastics goods in the world market.

Comparison of Import of Value Added plastics from                 India & World
 Imports from WORLDImports from INDIAIndia’s share
 US$ MillionUS$ Million 
Imports by USA11000015001.36%
Imports by UK240004101.71%
Hat Imports by EU-2721900017000.78%
Imports by ASEAN440003580.81%
Imports by WANA2400010004.17%
Imports by SAARC325050815.63%

Profile of Mr. Arvind Goenka, Chairman, PLEXCONCIL: Mr. Goenka is the Managing Director of RMG Polyvinyl India Limited, which is India’s leading producer of PVC Floorings, PVC leather and PVC Geomembranes. This business was acquired by his family in the year 2004 and soon became the top exporter of PVC Floorings.

The Company’s products are sold under the brand Wonderfloor which became a household name with its vast marketing & distribution countrywide network. Today the company is producing in excess of 40,000 MT of PVC Products and enjoys goodwill both in the domestic & export markets. Mr. Goenka hails from the business family of Goenkas of Rajasthan and his ancestors settled in the state of Bihar in the town Munger sometime in early 1900 where his grandfather Late Shri Dewan Bahadur Kedar Nath Goenka was accorded with the Knight’s title by the British for his philanthropic services to the community.

Their businesses now provide the desired finances for such philanthropic activities under the “Corporate Social Responsibility” program and activities like running a charitable hospital, free education of Sanskrit language, free education to girl students are some activities being continued even today for the upliftment of the society. Mr. Goenka is also the secretary of their family Charity trust.  Right after taking admission in University of Delhi, along with studies in the free time, Mr. Goenka would assist his father Mr Amarnath Goenka in the family business and acquired management skills & training from him.

He acquired technical training at their factory in India & later on at their collaborators’ factory in Germany.   Mr. Goenka is assisted by his brother Mr. Amitaabh Goenka in business and they manage the business by delegating authority & responsibility to senior managers who are specialists in their fields. He is in the business of manufacturing & export of PVC floorings & PVC leather. His company produces in excess of 25 Million sq meters of Floorings annually and having a turnover around 300 crores with exports to more than 25 countries including USA & Europe. 

Various speciality products like Anti-Microbial floorings for healthcare, Antiskid floorings with Silicon carbide for buses & rail coaches, Sports floorings for Gymnasiums, and floorings in rolls & planks for residential & commercial applications are produced in the factory located near New Delhi. The company is a Star Export house and has been the winner of Council’s Top export award for PVC Floorings since 2005.    

About PLEXCONCIL

The Plastics Export Promotion Council (popularly known as PLEXCONCIL) sponsored by the Ministry of Commerce & Industry, Department of Commerce, Government of India, represents the exporting community in the Indian Plastics industry. The export promotion strategies evolved since 1955, the year when PLEXCONCIL was born, have fetched rich dividends, which is exhibited in the form of high export growth rates.

These achievements represent the dedicated efforts of PLEXCONCIL members who are always in the process of creating a niche for themselves in the world markets by virtue of their determination to achieve technological excellence, a sense of commitment to satisfy their customers’ requirements and their inherent entrepreneurial qualities. The PLEXCONCIL on its part is committed to support the efforts of its members to achieve export excellence and service the overseas buyers to find appropriate trade partners in the Indian plastic industry. In its pursuit to achieve export excellence, various export promotional activities are undertaken by PLEXCONCIL.

These include participation in international trade fairs; sponsoring delegations to target markets; inviting business delegations from the overseas to India; organising buyer-seller meets both in India and the overseas etc. and servicing the needs of its members. The Council also routinely undertakes research and surveys, organizes the Annual Awards to recognize top performing exporters, monitors the development of new technology and shares the same with members, facilitates joint ventures and collaboration with foreign companies and trade associations as well as represents the issues and concerns to the relevant Government bodies. Products from the Indian plastic industry are exported to over 150 countries round the globe with the major trading partners being the European Union, United States, China, UAE, Saudi Arabia, Turkey, Nigeria, Indonesia, Egypt, etc.  For more information: http://www.plexconcil.co.in/

Corporate

नई दिल्ली, 09 जनवरी, 2021:  भारत के प्रमुख क्रेडिट ब्यूरो में से एक सीआरआईएफ हाई मार्क ने अपनी त्रैमासिक रिपोर्ट सीआरआइएफ माइक्रोलेंड के 13वें संस्करण को जारी किया है। इस रिपोर्ट में भारे में माइक्रो लेंडिंग उद्योग के परिदृश्‍य पर नजर डाली गई है। मौजूदा संस्‍करण में सितंबर 2020 तक के माइक्रो लेडिंग पोर्टफोलियो के बारे में विस्तृत जानकारी पेश की गई है। सितंबर 2020 तक माइक्रो फाइनेंस का आकार 224 हजार करोड़ रुपये था।

लॉकडाउन की वजह से जून 2020 के बाद से पोर्टफोलियो में गिरावट जारी है और इसमें 1.15 फीसदी की और गिरावट दर्ज की गई है। हालांकिसालाना आधार पर इसमें 14 प्रतिशत की वृद्धि हुई। 2020 की दूसरी तिमाही में सक्रिय ग्राहकों की संख्या में 7 फीसदी की कमी आई और इनकी संख्या घटकर करीब 5.7 करोड़ रह गई। वहीं ऐक्टिव लोन बेस में भी करीब 1.5 फीसदी की कमी आई और ऐक्टिव लोन की संख्या 10.5 करोड़ रह गई।

micro finance

पिछले साल की दूसरी तिमाही के मुकाबले इस बार (लोन) वैल्यू और वॉल्यूम दोनों में 50 फीसदी की गिरावट आई। वित्त वर्ष 2020-21 की दूसरी तिमाही में माइक्रोफाइनेंस लोन का औसत आकार 34.7 हजार रुपये रहा। कर्ज के शुरुआती भुगतान में चूक (1-30 DPD) की दर 15.7 फीसदी रहीजो माइक्रोफाइनेंस कारोबार के संचालन में लॉकडाउन के बाद सामान्य हुई स्थिति बहाल होने के बाद हुई बढ़ोतरी को दर्शाता है।

सितंबर 2020 तक शीर्ष 10 राज्यों की राष्ट्रीय जीएलपी (सकल कर्ज पोर्टफोलियो) में 83 फीसदी हिस्सेदारी रही। पिछली तिमाही के मुकाबले इस सेक्टर का क्षेत्रीय वितरण कमोबेश समान ही रहा। 34.7 फीसदी बाजार हिस्सेदारी के साथ पूर्वी क्षेत्र का इस सेक्टर में दबदबा रहा। इसके बाद 26.3 फीसदी की हिस्सेदारी दक्षिणी क्षेत्र की, 14.6 फीसदी हिस्सेदारी पश्चिमी क्षेत्रसेंट्रल रीजन की हिस्सेदारी 7.7 फीसदी हिस्सेदारी और पूर्वोत्तर क्षेत्र की हिस्सेदारी 6.9 फीसदी रही।

हालांकिपूर्वोत्तर क्षेत्रों को छोड़कर सभी क्षेत्रों के सकल कर्ज पोर्टफोलियो यानी जीएलपी में गिरावट आई। पूर्वोत्तर क्षेत्र के सकल कर्ज पोर्टफोलियो में पिछली तिमाही के मुकाबले 2 फीसदी की तेजी आई।

पूर्वी क्षेत्र में बैंकों की हिस्सेदारी करीब 50 फीसदी रही और इसके बाद दक्षिणी भौगोलिक क्षेत्रों में यह हिस्सेदारी बेहद कम 14 फीसदी दर्ज की गई। सितंबर 2020 तक दक्षिणी और पूर्वी क्षेत्रों में गैर बैंकिंग वित्तीय संस्थान और सूक्ष्म वित्त संस्थाओं (एनबीएफसी एमएफआई) की हिस्सेदारी करीब-करीब बराबर यानी क्रमश: 29 फीसदी और 28 फीसदी रही। वहीं सूक्ष्म वित्तीय बैंकों (SFB) का पोर्टफोलियो दक्षिणी क्षेत्र में काफी मजबूत रहा। इस क्षेत्र के कुल बाजार में उनकी हिस्सेदारी 41 फीसदी रही।

राष्ट्रीय जीएलपी (सकल कर्ज पोर्टफोलियो) के मुकाबले 15 फीसदी की हिस्सेदारी के साथ पिछली तिमाही के मुकाबले सितंबर 2020 में पश्चिम बंगाल शीर्ष पायदान पर रहा। तमिलनाडु 14 फीसदी की हिस्सेदारी के साथ दूसरे नंबर पर जबकि बिहार की इस क्षेत्र में हिस्सेदारी 11 फीसदी दर्ज की गई। तिमाही आधार पर बंगाल में वृद्धि दर 2.2 फीसदी रहीजबकि तमिलनाडु और बिहार में वृद्धि दर क्रमश: 1.6 फीसदी और 2.9 फीसदी दर्ज की गई। 

शीर्ष 10 राज्यों में लोन मोराटोरियम की अवधि खत्म होने के बाद भुगतान की स्थिति दबाव में दिखी। पीएआर 1-30 डीपीडी के आधार पर देखा जाए तो 31.2 फीसदी के साथ पश्चिम बंगाल की स्थिति ज्यादा तनाव में दिखी वहींअसम में यह प्रतिशत 27.3 फीसदी रहा। महाराष्ट्र और बिहार में 17.5 फीसदी के साथ पीएआर 1-30 डीपीडी की स्थिति ऊच्च दिखीजो ओडिशा के 18.9 फीसदी से थोड़ा ही कम रहा। असम में सूक्ष्म वित्त कर्ज खातों पर ज्यादा दबाव दिखा।

यहां पीएआर 31-180 15 फीसदी के स्तर पर चला गया। वहीं उत्तर प्रदेश में पीएआर 31-180 डीपीडी एक फीसदी पर रहा। पीएआर 180(+) महाराष्ट्र में अधिकतम रहा और यहां ऐसे मामलों की संख्या कुल पोर्टफोलियो की 7.4 फीसदी रहीजबकि कर्नाटक में यह प्रतिशत 5.1 और असम में ऐसे मामलों का प्रतिशत 4.7 फीसदी रहा।

सीआरआइएफ हाई मार्क के प्रबंध निदेशक और सीईओ नवीन चांदनी ने कहा, ‘सितंबर 2020 तक माइक्रोफाइनेंस सेक्टर 224 हजार करोड़ रुपये का रहाजिसमें सालाना आधार पर 14 फीसदी की वृद्धि दर्ज की गई। लॉकडाउन के बाद कर्ज गतिविधियां सामान्य स्थिति में आईं और इसकी वजह से वित्त वर्ष 2020-21 की दूसरी तिमाही में कर्ज वितरण के मामले में तेजी आई। पिछली तिमाही के मुकाबले इसमें 380 फीसदी की तेजी देखी गई।

वहीं पोर्टफोलियो पर कुछ दबाव दिखा और कर्ज भुगतान में शुरुआती चूक (1-30 डीपीडी) 15.7 फीसदी रही। माइक्रोफाइनेंस इंडस्ट्री और नीति निर्माताओं द्वारा तकनीक का लाभ उठाने और प्रभावी डिजिटल कलेक्‍शन मैकेनिज्‍म विकसित करने के लिए किए गए प्रयास नियंत्रण बनाए रखने की दिशा में एकदम सही कदम है।”

Corporate

Zomato and Swiggy food distribution services aren’t complaining about 2020, or at least the last day of the year. The market was off-charts during dinner time on December 31, enabling restaurants to offset the loss caused in several states due to night-time curfew.

“The demand last night was much higher than what we could process. We ran out of delivery partner capacity much before peak time. If we had unconstrained supply, we could have hit Rs 100 crores of GMV yesterday. Need to do better next time,” said the Zomato founder and CEO Deepinder Goyal.

Swiggy, the other food technology unicorn, told ET Now earlier that in its six years of operation, it had seen the biggest demand ever.

During dinner time, the company said its traffic increased by 100 percent, with Tier 2 and 3 cities like Jaipur, Vizag, etc. rising by almost 200 percent. There was also a rise of 150 to 200 percent in Tier 3.4 cities, higher than that seen in metro cities such as Berhampur, Rourkela, Karimnagar, etc. On its website, new customers have doubled.

Swiggy COO Vivek Sunder told ET NOW, “we saw growth across orders, value and the number of customers. There are two macro trends- one of them is obviously because of the nature of offices being work from anywhere- a lot of talent has migrated to their hometowns. Secondly, the constraints put to maintain social distancing and gatherings outside. So, this population coupled with the phenomenon of staying at home, these cities just exploded”.

On peoples’ menu were usual suspects such as biryanis, pizza, garlic bread and desserts.

“All of our support people were working even harder than they usually do. They coped a lot better than I imagined because the spike was way beyond expectations. We did have some misses but consumers were also patient. Cancellations were very few and we managed to fulfil most of the orders. We are extremely optimistic about 2021. We are entering January with the healthiest user base,” added Sunder.

Corporate
  • The Gaming Master esports competition has been introduced by Jio and MediaTek.
  • On Garena’s Free Fire, the 70-day tournament will be played and provides a prize pool of about 12.5 lakh.

Registrations are now open and players have until January 10 to enrol.
Reliance Jio, an Indian telecoms firm, has collaborated with chipset manufacturer MediaTek to launch Gaming Masters, an esports tournament for Indian gamers on the JioGames website.

Garena’s battle royale game Free Fire will be included in the 70-day tournament and provides a prize pool of about 12.5 lakh. A cash reward of 3 lakh will be won by the grand finale winner.

The tournament registrations are now live on the JioGames platform and will remain open till January 10. The tournament will begin on January 13 and the grand finale is scheduled for March 1.

How to register for the Gaming Master tournament

  • Players can register for free for the Free Fire Gaming Master tournament on the JioGames platform.
  • To register for the JioGames Gaming Master tournament, players need to first register on the JioGames platform.
  • Then, sign in to your account.
  • Now, go to the registration page and click on Join.
  • Now, enter the required details and register for the tournament.
  • The Gaming Masters tournament will be broadcasted live on the JioTV HD Esports Channel and YouTube channel.
Corporate

Traffic from Orange and Green Zones for new cars recovered 84 %
Highest recovery rate of products between INR 1-5 lakh in new cars segment

INR 2-5 lakh segment in pre-owned cars fully recovered post-lockdown

99% surge in traffic for pre-owned cars post lockdown-CarDekho report

New Delhi, CarDekho, the leading full-stack auto company has reported 99% recovery in customer traffic for used car segment after the lockdown whereas 77% customers are back to search for new cars. A study conducted by the company shows that with the lifting of the lockdown, there is a major shift in customers preferences across the segments, with hatchback and low-budget being the most sought-after cars across segments.

The traffic from Orange and Green Zones for new cars PAN India has recovered 84 % where as from red zones it has recovered 58% ; It signifies the customer sentimates improving strongly in Green and Orange zone with Red Zone fast catching up as customer search for their desired car has now resumed.

As per the report, the recovery rate of cars in the INR 1-5 lakh segment is the highest. Among SUVs, INR 5-15 lakh segment has the highest share, whereas sedans in the INR 15-20 lakh range are the most searched cars. MUVs within the price range of INR 10 lakh has been most sought during this period; the premium segment share has low volume (10%) and a very low recovery rate (50%). Further, Maruti and Tata cars are most searched by consumers, with Maruti having 23% share in new car traffic and Honda the highest share in the mid-segment cars with 7% share in traffic. The rest have 4-5% each.

The study was conducted between 17th Feb 17th March, termed as the pre-lockdown period; the mid-lockdown period between mid-March till mid- April; and post-lockdown between 12th May to 28th May. It was also seen that the traffic from the Orange zone for used cars was the highest, with most coming from Karnataka. In the Red Zone, traffic from Maharashtra region for pre-owned cars was the highest.

Says Mr Amit Jain, Co-founder and CEO CarDekho, Pre, mid and post-lockdown periods have impacted car traffic across the segments. New car and used car business have seen transformations in the consumer journey. The pandemic outbreak has changed people preferences and we believe they will opt for personal mobility solutions rather than shared mobility. We are now seeing a very fast recovery of consumer traffic on CarDekho with preferences for budget-friendly options. The used cars traffic has recovered by 99% and new car traffic by 77% showing that the market is now getting ready for actual business. We are hopeful that the sales recovery will also be fast with the lifting of the lockdown.”

Corporate

On a yoy basis, all vehicle categories register unprecedented de-growth and 2-Wheeler degrows by 88.8%, 3-Wheeler by 96.34%, CV by 96.63%, PV by 86.97% and Tractors registrations fall by 75.58%, respectively.

Vehicle registration plummets by 88.87% due to Covid-19 and Nationwide lockdown: FADA

New Delhi, The Federation of Automobile Dealers Associations (FADA) released the Monthly Vehicle Registration Data for the Month of May’20.

May’20 Retail Sales

Commenting on how May’20 performed, FADA President, Mr Ashish Harsharaj Kale said, “For the first time in history, the month of April witnessed Zero Retails. While lockdown was gradually relaxed beginning May, Auto Dealerships and workshops opened for the first time after 40 days in many cities.

At the end of May, out of 26,500 outlets about 60% showrooms and 80% workshops were operational across the country. May registrations are hence not indicative of the demand situation as the Lockdown still continued in many parts.

First 10 days of June witnesses extremely low demand despite most dealerships which are now open for business. Weak consumer confidence especially in urban areas continue to haunt as customers stay away from concluding their purchase due to threat of community spread and return of complete lockdown persists.

With 7.6% of GDP, a workforce of several millions and a multiplier effect for many supporting sectors, Auto Industry can be the driving force in boosting consumer confidence and improving sentiment, if supported with short term stimulus to revive demand as return to normalcy seems very difficult till the festive season.

Mobility still being a necessity and not luxury in a growing country like ours, demand stimulus along with credit support can bring Auto Sales back in positive zone within 30-60 days and help shore up consumer confidence.”

Outlook for June

With an assumption of no further lockdown and continued reopening measures, there will be substantial pick up in Auto Retails in comparison to May, but the overall outlook continues to be grim with projected sales to witness a de-growth upwards of 25% YoY.

Urban Demand will continue to face challenges ahead with Covid-19 uncertainty. On the flipside, the Government’s push for Infrastructure spending and the recent positive measures announced for Agriculture sector will help support rural demand. It will further strengthen with the normal spread of monsoon which will help Tier 2 and 3 Dealers face lesser de-growth compared to their urban colleagues.

Dealer Sentiment

A projected annual de-growth of 35% by SIAM on top of the 18% de-growth faced last year, the Dealership Community faces its toughest years ever as volumes are estimated to half in a span of 20 months.

With no direct support as business community, except for the moratorium extension given to all businesses, the Dealership Community looks forward to an early recognition as an MSME to avail Government support for the survival and for its 40 lakh workforce.

With cost cutting having its limitations due to the nature of the Business, FADA is strongly pursuing with all our Principals to correct the long pending anomaly of low sales margin and revise it upwards to 7% to get it at par at least at the lower band of global dealer margin which ranges from 7%-14%.

Lakhs of jobs and hundreds of dealers survival is at stake if demand de-growth predictions hold true and operating economics remain unchanged. FADA will strongly continue the campaign for higher business margins for survival of its members in these uncertain times as it will also help us in self sustenance as many more disruptions will come in future in a globally connected world.

Inventory

Due to the Lockdown situation, Inventory analysis with regards to current retail will not depict a realistic scenario and hence will be resumed from June onwards.

Corporate

PRESS NOTE

The Enforcement Directorate has also issued a lookout notice against Rana Kapoor, Ex-promoter & Director of YES Bank to keep him from leaving the country. ED officials are reportedly recording Kapoor’s statement in connection with DHFL scam, where the company siphoned off Rs 13,000 crore via 79 shell companies. YES, Bank had extended massive loans to DHFL, which later turned bad, adding to the bank’s losses, reports said.

This is serious of banking fraud in the country in which IL&FS, Dewan Housing Finance Limited, and PMLC Bank are included. Now a question  arises Who is next?

FIR No. 120/2019 registered against Kotak Mahindra Bank Ltd and six other accused including Mr. Uday S. Kotak, MD & CEO

As reported earlier an FIR No. 0120/2019 dated 19/10/2019 has been registered at PS Barakhamba Road, New Delhi against Kotak Mahindra Bank Ltd and six other accused including Mr. Uday S. Kotak, MD & CEO, for their role in a scam of forgery of documents vide order dated 14.10.2019 of MM Patiala House Courts, New Delhi who has taken view that as the matter requires investigation by police, several documents are to be collected and verified and a number of persons are to be examined.

After registration of the said FIR for committing fraud and forgery by Kotak Mahindra Bank and others including Uday S. Kotak and Anand Mahindra, Bagla family has also filed a complaint with the Court of Chief Metropolitan Magistrate, New Delhi, under Section 200 r/w 190 Cr. P.C. for taking cognizance of offenses Committed U/s 211 (IInd Part), 499/500, 501, 502 r/w 120B/34 IPC, against Kotak Mahindra Bank Ltd & others. 

In the complaint apart from one Virendra Kumar Sharma, Kotak Mahindra Bank and its Directors & Company Secretary and other officers namely Mr. Uday Suresh Kotak, Managing Director, The Regional Manager, Kotak Bank (Delhi & NCR), Mr. Anand Mahindra, Mr. Shivaji Dam, Mr.Chengalath Jayram, Dipak Gupta, Ms.Bina Chandarana, Company Secretary, Mr. Chandra Shekhar Prasad (The Then Deputy Manager, Legal),  Mr. Sanjay Kumar, Officer, Kotak Bank, and CVIL Infra Limited and Bennett Coleman & Company Ltd., were made accused.

It has been alleged in the complaint that the above named accused in connivance with the each other, falsely implicated one Bhupendra Bagla son of Dr. Santosh Kumar Bagla (a renowned business family based at Mumbai & Delhi) in a criminal case by using forged and fabricated documents created and used by the above named accused. 

Transfer of FIR No. 120/2019 to DIU/NDD Mandir Marg, New Delhi

Further, on filing the status report on 10.12.2019 in FIR No. 120/19 U/s 420/34 IPC has been registered on 19.10.2019 and the case was entrusted to SI Sanjay Kumar P.S. Barakhamba Road, New Delhi. Thereafter, the case file was transferred to DIU/NDD, Mandir Marg and further investigation is being taken over by SI Sanjay Kumar, DIU/NDD.

Subsequently, DIU/NDD issued Notice U/s 91 Cr. PC to Mr. Uday Kotak  (Vice- Chairman & Managing Director), Mr. Chengalath Jayaram (Joint Managing Director), Mr. Deepak Gupta (Director) and the Concerned Officials, where he has directed all the above to produce the required documents/articles before the undersigned within three days of receipt of the said Notice.

Complaint about Malicious Prosecution and defamation by Bagla family against Kotak Mahindra Bank and others including Uday Kotak and Anand Mahindra.

After registration of an FIR for committing fraud and forgery by Kotak Mahindra Bank and others including Uday S. Kotak and Anand Mahindra, Bagla family has also filed a complaint with the Court of Chief Metropolitan Magistrate, New Delhi, under Section 200 r/w 190 Cr. P.C. for taking cognizance of offenses Committed U/s 211 (IInd Part), 499/500, 501, 502 r/w 120B/34 IPC, against Kotak Mahindra Bank Ltd & others. 

The direction of PMO to the Secretary, Department of Financial Services (Banking Division) in the matter of conspiracy and forging and fabricating documents by Kotak Mahindra Bank.

Bagla family has sent a Representation / Complaint dated 14th August 2019, against the frauds, forgery, and illegalities of Kotak Mahindra Bank and its officials for taking appropriate action against Mr. Uday Suresh Kotak, MD & CEO and his other associates i.e. Directors/officials of Kotak Mahindra Bank and other person involved in the conspiracy of committing the offense against the Bagla family, to Hon’ble President of India, Prime Minister of India & Other Central & State Government authorities.

The PMO had directed the Secretary, Department of Financial Services (Banking Division) for action as appropriate in the matter of complaint against Kotak Mahindra Bank Limited, its MD & CEO Mr. Uday S. Kotak and other senior officials for alleging conspiracy, fraud, and forgery of some documents. [Ref: Replies dated 03/09/2019 and 04/09/2019 from PMO with Registration No. PMOPG/D/2019/0318007 & PMOPG/ D/2019/ 0320812].

Bagla family has received replies from President Office dated 23/08/2019 with Registration No. P1/E/2308190138, wherein the Complaint of the Applicants was transferred to “The Secretary, Ministry of Finance for action as appropriate”. Also, other authorities/office has issued the instruction of the Secretary of Finance to take the action in the said matter.

New strategies of Kotak Mahindra Bank Limited to divert the issue of forgery and fabrication of documents.

As the Kotak Bank is under investigation and has to face the consequence of FIR/Complaints registered against them, therefore, after registering an FIR, Kotak Mahindra Bank Limited has made a miscellaneous application before the DRT for return of original documents filed along with original application bearing no. 57 of 2009. It is also interesting to note that forged and fabricated documents including one affidavit and a power of attorney both dated 24.08.2007 was filed by Kotak Mahindra Bank Limited before DRT as a Copy of the document. No original documents were filed by Kotak Mahindra Bank Limited. This is a tactic of the Kotak Mahindra Bank only for the delay and diverts the matter.

Corporate

नई दिल्ली। वन 11 ऑनलाइन फैन्टासी स्पोर्ट्स प्राइवेट लिमिटेड की ओर से दिल्ली के द ग्रैंड में आज लांच किया गया। इस मौके पर वन 11 ऑनलाइन स्पोर्ट्स की डाइरेक्टर निधि शर्मा ने ने कहा कि क्रिकेट लोगों को जोड़ता है, अलग-अलग धर्म, संप्रदाय, संस्कृति और देशों को करीब लाता है। यह खेल नहीं, खेल से बढ़कर है। इस दौरान कंपनी की डायरेक्टर निधि शर्मा और खुशबू सिंह के साथ-साथ सीईओ अरविंद सेठ और सीएफओ साराह समेत चिंकी मिंकी, टिकटॉक फेम गौरव अरोड़ा, आशिभ मिधा और सिमरन भी मौजूद रहे। वहीं, डायरेक्टर खुशबू सिंह ने बताया कि वन 11 स्पोर्ट्स मूल रूप से क्रिकेट को समर्पित गेमिंग प्लैटफॉर्म है।

एंड्रॉयड और आईओएस एप के जरिए क्रिकेट से जुड़े गेम लोगों के बीच मशहूर हो रहे हैं। वन 11 ऑनलाइन स्पोर्ट्स प्राइवेट लिमिटेड के डायरेक्टर निधि शर्मा और खुशबू सिंह ने बताया कि एक कंपनी के तौर पर हर तरह के यूजर के लिए अब प्लेटफॉर्म उपलब्ध रहेगा। यह एप के रूप में उपलब्ध होगा। कीमत इतनी कम होगी मानो वह फ्री जैसा हो। सभी बड़े सोशल मीडिया प्लेटफॉर्म पर और विज्ञापनों में इन ऐप्स को प्रोमोट किया जा रहा है। 

साथ ही सीईओ अरविंद सेठ ने बताया कि वन 11 ऑनलाइन स्पोर्ट्स के देशभर में 6 दफ्तर हैंऔर 24 घंटे चलने वाले कस्टमर सपोर्ट सिस्टम हैं। एक-एक भारतीय तक क्रिकेट को लोकप्रिय बनाना और क्रिकेट में लोगों की दिलचस्पी पैदा करना कंपनी का मकसद है। सेठ बताते हैं कि क्रिकेट से जुड़ी तकनीकी कौशल और अवसरों को पैदा करने के लिहाज से भी वन 11 ऑनलाइन स्पोर्टस अहम है। जबकि कंपनी की सीएफओ साराह ने बताया कि 100 दिन के भीतर 1 करोड़ यूजर जोड़ने के लिए उनकी टीम प्रतिबद्ध है।

उन यूजर्स को अपने से जोड़े रखने के लिए भी पूरी योजना तैयार कर ली गयी है। उन्हें उम्मीद है कि उनकी कंपनी क्रिकेट के भारतीय बाजार में मील का पत्थर साबित होगी। अभी कंपनी की परिसंपत्ति 5 मिलियन डॉलर है जिसके 500 मिलियन डॉलर हो जाने की उम्मीद है। साराह को विश्वास है कि 2020-21 के अंत तक उनकी टीम में 500 से ज्यादा लोग होंगे। इसके लिए मजबूत बिजनेस स्ट्रैटजी और मार्केटिंग प्लान कंपनी ने तैयार कर ली है। अपने मिशन को उपलब्धि में तब्दील करने के लिए कंपनी प्रतिबद्ध है।

Corporate

Samiksha Bajaj, Co- Founder of Samshék Bags the Award for Retail’s Sustainable Innovative Strategy at ET Retail Awards 2020

Mumbai.  Economic Time’s Asia-Africa-GCC Retail & shopping Centre Congress & Awards were held on 17th February 2020.  An event on Sustainable Retail Strategy for A Better Future held at Taj Lands, End Mumbai.  Innovation, sustainability and customer-centric approach were the overarching theme for the Economic Times Retail Awards 2020.

Samiksha Bajaj won the award for Retail’s Best Innovative Strategy. Samiksha Bajaj is theCo- Founder of Samshék: One of the most inspirational faces of tech retail she aims for a vision to solve the biggest pain point of the apparel industry today- sustainability and sizing through technology.

“It feels great to use innovation and incorporate tech into the future of retail. This is the kind of transformation we need to build a sustainable future of retail. I feel extremely grateful for this acknowledgement” said Samiksha.

She co- founded Samshék, one of the first tech fashion start-ups in India in the field of fashion and garment technology. Samshék works on zero inventory and sustainability to reduce textile waste through digital customization and artificial intelligence. It is one of the first brands to introduce 3D body scanner in India, which takes 110 measurements in less than 5 seconds. Their first tech fashion store was launched in Pune earlier last year.

The event was witnessed by the greatest minds in the area of retail and technology. The key focus of the event was on various economic and environmental factors affecting retail. Customer relations, women in retail, technology overpowering retail and sustainable strategies for the future of retail were some of the prominent panel discussions. 

It was a star-studded event that witnessed a night of tech solutions, retail innovation and sustainable outcomes.