Disclaimer Adverstisement appeared in this News Paper have not been verified factually and “WESTERNTIMES” does not stand responsible for the sales proposition. 3 ENTERTAINMENT Dhanush's fourth release of 2015 set for Diwali Chennai, Actor Dhanush is on a roll. With three releases already in his kitty so far this year, his upcoming Tamil outing, which is tentatively titled "VIP 2", will hit the screens on Diwali. "If all goes as planned, 'VIP 2' will release during Diwali. There's a lot of shuffling of release dates of star-studded films, so a lot depends on the release of these films that are slated to hit the screens be- fore 'VIP 2'," a source from the film's unit told IANS. Being directed by Velraj, who helmed "VIP", the film also stars Samantha Ruth Prabhu and Amy Jack- son in lead roles. Produced by Dhanush's Wunderbar Films, it has music by Anirudh Ravichander. Dhanush is currently shooting for filmmaker Prabhu Solomon's yet-untitled Tamil action-drama in which he plays a pantry worker. Next year, he will be seen playing a gangster in Vetrimaaran's two-part film "Vada Chennai".He also has a yet-untitled political thriller with director R.S. Durai Senthil Kumar. In Bollywood, Dhanush is expected to team up with "Ranjhanaa" director Anand L. Rai again. Would love to do cameos in Bollywood: Ravi Teja Chennai, Actor Ravi Teja says he has no plans of estab- lishing an alternate career in Bollywood, but admits he would love to essay cameo roles in interesting Hindi projects. "I'm so busy with Telugu projects that I really don't have the time or interest to explore opportu- nities in Bollywood. I recently did a cameo song in Kannada film 'Vajrakaya', and I'd love to something similar on the lines in Bollywood," Ravi Teja told IANS. Another reason why he is not keen about Bollywood is because he believes projects here take time to be completed. "Hindi projects take time to be completed, un- like most Telugu films that are wrapped up quickly," he said, and added that he would love to work with megastar Amitabh Bachchan. Currently busy shooting for Telugu actioner "Bengal Tiger", Ravi Teja is expected to start work- ing on the Telugu remake of "Special 26". Tom Cruise's 'Jack Reacher 2' set for October 2016 release Los Angeles, Hollywood star Tom Cruise will return to his look of a homicide investigator as production banner Paramount Pictures has scheduled the release date of "Jack Reacher 2" on October 21, 2016. Although 2012's "Jack Reacher" wasn't a huge hit at the domestic box office, it will get a sequel af- ter all. The second instalment of the action movie franchise replaces Warner Bros' disaster-themed movie "Geostorm", which was moved to January 2017. "Jack Reacher 2" will face off against horror film "Ouija 2" and "Underworld: Next Generation", re- p o r t s aceshowbiz.com. Cruise will return as the title character, a drifter and former US Army Military Po- lice Corps officer. Cobie Smulders is in talks to play Danika, the female lead in the sequel. Based on Lee Child's novel "Never Go Back", the sequel follows Reacher fac- ing a complicated problem when he heads back to his old military base in Virginia. He reunites with his old commander only to discover that she's been arrested. Things become worse when Reacher finds himself being charged with multiple crimes. Ed Zwick is set to direct "Jack Reacher 2", the script of which is penned by Richard Wenk. Christopher McQuarrie directed the first movie, which grossed $218 million globally against a bud- get of $57 million. As much as $80 million of the to- tal gross was from the US. Tamil Nadu film producers body halts release of new films Chennai, The Tamil Nadu Film Producers Council (TFPC) on Wednesday announced that it will not--Indo- Asian News Service allow the release of any new film across all languages in the state until the loss in- curred on superstar Rajinikanth's "Lingaa" was settled. In an official statement, the council said no new film will be allowed to release in theatres in the state from Friday. It also announced that all films that are currently running in cinemas in the state will be re- moved if the matter is not settled by September 10. It all started with actor Vishal Krishna Reddy- starrer "Payyum Puli", produced by Vendhar Movies, who had distributed "Lingaa". Last week, "Paayum Puli" was issued a red card, as Vendhar Movies was yet to settle losses incurred by "Lingaa". "Only half of the promised settlement has reached the distributors of 'Lingaa'. Rajinikanth and the film's producer Rockline Venkatesh managed to settle the loss, but distributors from North and South Arcot, Chengalpet and Trichy are yet to receive the compensation," a member from theTamil Nadu The- atres Owners Association told IANS. The council is expected to hold an emergency meeting on Thursday to look into the matter. Always keep smiling: Idris Elba on 'too street' comment Los Angeles, Actor Idris Elba, who was deemed "too street" to play the world-famous spy James Bond, has re- sponded to the comment in the most classy way, by asking all to "always keep smiling" as he learned it from the "street" itself. Anthony Horowitz, the author of the James Bond novel "Trigger Mortis", did not think that Elba was the right choice to play Bond, and called the "Prometheus" actor "too street" for the role. Elba addressed the issue on Instagram on Tues- day, by posting a screenshot of the article, reports aceshowbiz.com. He captioned the image: "Always Keep Smiling!! It takes no energy and never hurts! Learned that from the Street!! septemberstillloveyou". Horowitz earlier said that there are many other black actors who deserve the role more than Elba. The Prime Minister, Shri Narendra Modi releasing the commemorative coins of Rs. 125 & Rs. 10 to mark the 125th birth anniversary of Dr. Sarvepalli Radhakrishnan, on eve of the Teachers' Day, at Manekshaw Centre, in New Delhi on September 04, 2015. The Union Minister for Human Resource Development, Smt. Smriti Irani, the Ministers of State for Human Resource Development, Prof. (Dr.) Ram Shankar Katheria and Shri Upendra Kushwaha and the Minister of State for Finance, Shri Jayant Sinha are also seen. SBI Chief frowns on call drops, says not good for financial inclusion Mumbai: SBI chairman Arundhati Bhattacharya joined the debate on fre- quent call drops, citing a personal experience of not being able to get seamless connectivity while driving along Marine Drive, and warned that bad networks are detrimental to financial inclusion agenda. A drive from my office to my house, which is along the Marine Drive, I have at least five identified places where the calls drop, Bhattacharya said while ad- dressing the annual FIBAC summit of bankers. Though on a lighter note, she quipped that it's good to have 20 minutes of peace while being driven from the bank headquarters in the Nariman Point central business district to her offi- cial residence at the tony Malabar Hill area which is less than 6-km away. Bhattacharya said such call drops in the heart of the nation's financial capital re- flect poorly on the country as a whole. It doesn't say much for the country. In a place like Mumbai, and that too on Marine Drive, if you aren't able to get calls, this is not good, she said, adding that such coverage by the telcos might hinder the ambitious financial inclusion plans. This is an area which is very important and unless we are going to get connec- tivity across the country at a much better bandwidth, it is going to be very difficult to push this agenda (of fi- nancial inclusion and digital banking) and take it really forward, she said. She added that many times, it is the lack of access that makes people not use a banking account and we need to collectively look into this aspect. It may be noted that for many months, the Govern- ment and the telcos have been in a duel over the ris- ing incidence of call drops. The menace assumed im- portance after the govern- ment got an audit done on telcos to ascertain the issue. While telcos have for years been blaming the lack of spectrum and ban on putting up enough number of towers as the main rea- sons for poor connectivity, Government of late began to believe that the main problem lies in telcos not investing enough to im- prove connectivity. On Au- gust 16, the Department of Telecommunications (DoT) asked telcos to file weekly update on call drops. It may be noted that telecom cover- age in the national capital is also equally bad. The DoT asked opera- tors to improve connectiv- ity by August 20 in areas like the I&B Ministry headquar- ters at Sanchar Bhawan, the Supreme Court premises, Shastri Bhawan that houses a host of ministries, the air- port-Rashtrapati Bhawan route, certain Metro stations and the high-profile Aurangzeb Road. The Telecom Regulatory Authority of India ( TRAI) has found a two-fold jump in call drops on 2G networks and 65 per cent on 3G in a one-year period. The industry average of call drop incidents at the end of January-March 2015 period was 12.5 per cent compared to 6.01 per cent a year ago on 2G networks. Adani enterprises to invest Rs 25k cr in Chhattisgarh New Delhi: Adani Enter- prises, the flagship firm of Adani Group, has inked a pact with the Chhattisgarh government to invest over Rs 25,000 crore for setting up urea and power project as well as rice bran oil ex- traction plant in the state. Adani Group signed a MoU with the Government of Chhattisgarh to develop two critical projects in the state. The project cost for both the projects is esti- mated to be around Rs 25,200 crore, the Gautam Adani-led group said in a statement.The two projects comprise of a coal to poly- generation (CTP) project and a rice bran solvent ex- traction plant and refinery, it added. A poly-generation plant is one that simulta- neously produces two or more marketable products. The Memorandum of Understanding (MoU) was signed between Chhattisgarh Industry Sec- retary Subodh Kumar Singh on behalf of the state and Rajesh Jha and KS Varshney from the Adani Group, the statement said. The MoU was signed in the presence of Chhattisgarh Chief Minister Raman Singh, Industry Min- ister Amar Agrawal, Chief Secretary VivekDhandh and Adani Enterprises Manag- ing Director Rajesh Adani, it added.The first project to be set up is a CTP project that includes an Ammonia/Urea and Substitute Natural Gas (SNG) complex via gasifica- tion of Indian high ash coal sourced from within the state, it said. The project cost is estimated to be over Rs 25,000 crore and includes coal to urea, coal to SNG plant as well as coal-based thermal power plant. It has a potential to generate 5,000 jobs in Chhattisgarh, it added. Moody’s flags monsoon risks, cuts India growth forecast to 7% New Delhi: Cautioning that slow reforms pace could dent growth, Moody’s Investors Service cut India’s growth forecast for this fis- cal to around 7 per cent from 7.5 per cent projected earlier, citing below-normal rainfall. We have revised our GDP growth forecast down to around 7 per cent in light of a drier-than-average monsoon although rainfall was not as low as feared at the start of the season, Moody’s Investors Service said in its‘Global Macro Out- look for 2015-16’. Saying India’s growth outlook is resilient beyond short-term monsoon ef- fects, Moody’s has retained growth forecast for 2016-17 at 7.5 per cent. One main risk to our forecast is the pace of re- forms slows significantly as consensus behind the need for reforms weakens once the least controversial as- pects of the Government’s plan have been imple- mented, Moody’s said. The key reforms legisla- tion with regard to GST and land acquisition could not be passed by Parliament in the monsoon session be- cause of political logjam. Moody’s growth projec- tion is lower than the esti- mates of International Mon- etary Fund (IMF), which pro- jected India to grow at 7.5 per cent in 2015-16. Both Moody’s and IMF’s growth projections, how- ever, are lower than the es- timates of the Finance Min- istry and RBI. The Ministry expects GDP growth to be 8-8.5 per cent while the RBI has pegged it at 7.6 per cent for 2015-16. Moody’s Sovereign Rat- ing Analyst AtsiSheth said: We reiterate that at 7 per cent, we are forecasting In- dia to be among the fastest- growing large emerging markets this year. And we expect growth to accelerate by next year. Sheth said the GDP fore- cast hinges on three param- eters. First, the recent macro-economic and bank credit growth data, which shows economic indicators are moving in a positive di- rection, albeit slowly. Second, although this year’s monsoon is less weak than originally anticipated, its performance was such that a significant boost to rural incomes is unlikely in the near term, limiting an important driver of growth in India. Last, given generally subdued global growth conditions and uncertain global financial environ- ment,external markets have also not provided a growth boost, Sheth explained. On inflation, Moody’s said: Barring a large shock to commodity prices or food inflation, we think that the central bank’s inflation tar- gets are achievable. Moody’s Investors Ser- vice said economic activity in India will continue to strengthen on the back of a gradual implementation of reforms spurring domestic and foreign investment. Maintaining inflation at lower levels than in the past will support real incomes and spending. As long as the central bank’s objective is credible, it will also foster investment by providing more visibility about future revenue growth and mar- gins, it said. Inflation, both whole- sale and retail, has hit record lows. While retail inflation was at 3.78 per cent, WPI stood at (-) 4.05 per cent in July.Moody’s said growth in 2015-16 will also be sup- ported by an accommoda- tive fiscal policy stance and a Budget that focuses on sustained economic growth as a driver of narrower defi- cits. It said as a net importer of commodities, India’s growth outlook benefits from the fall in commodity prices over the past year. Also, the country is little af- fected by demand from China and more generally, slower global trade growth. As regards China, Moody’s maintained its baseline GDP growth fore- cast of 6.8 per cent for 2015 and 6.5 per cent in 2016, be- fore falling towards 6 per cent by the end of the de- cade. Niche banks: SBI Chief says it could be a 'dog-eat-dog' market Mumbai: State Bank of India (SBI) chief Arundhati Bhattacharya again ex- pressed fears over the entry of payments banks, saying they are agile and have an edge as they are not bound by industry- level wage agreements which can lead to 'a dog- eat-dog's world'. Existing universal banks stand to face chal- lenges given the fact that these banks will be coming in without any risk, that they will be coming in with an agile sys- tem and delivery models and that they've not been held hostage by industry- level agreements and wage limits, she said. Citing the experience of e-commerce firms, she said if the new banks have been given to big industrialists, and if they decide to burn capital to gain market share initially, it will be a very diffi- cult situation for the exist- ing lenders. It is going to be a dog- eat-dog's world, she added.Bhattacharya's refer- ence of the payments banks not being held hostage by legacy issues like wage settlements refers to the just-concluded negotia- tions with unions, wherein the lenders have committed for a 15 per cent hike in sala- ries that has resulted in greater provisioning and dented profits. It can be noted that India's largest lender has picked up as much as 30 per cent stake in the payments bank entity that Reli- ance Indus- tries will be launching soon. The RBI Governor Raghuram Rajan at a fi- nance con- clave, Bhattacharya expressed fears about the payments banks eating into the busi- ness of universal banks due to their technological ad- vantages. Bhattacharya reiterated that payments banks, for which RBI issued in-prin- ciple nods to 11 aspirants last week, will cannibalise our existing customer base. Therefore, it is incumbent on the existing lenders to think of strategies to take on the new entities, she said. On August 19, as many as 11 entities such as Reli- ance, Airtel, Vodafone, Birla Group and India Post, among others, were granted in-principle nod by RBI to set up non-lending payments banks as part of the financial inclusion drive. Bhattacharya further said these nimble new en- trants can cannibalise the universal banks' existing customer base, which she described as a real challenge.When their agile systems and delivery mod- els come together, compe- tition is going to be tougher. All of us incumbent players must look at it and decide what should be our re- sponse, she said. Sun Pharma promoter DilipShanghvi and Vijay ShekharSharma of PayTM also got approval in their in- dividual capacities. WESTERN TIMES AHMEDABAD MONDAY, 7/9/2015 Notice is hereby given that: The Annual General Meeting (AGM) of the Company will be held at the Registered office of the Company situated at 19/20/21 Third Floor, Naranyan Chambers, B/h Patang Hotel, Ashram Road, Ahmedabad, Gujarat – 380 009 on Monday, 28th day of September, 2015 at 11:00 A. M To transact the following business. 1. Adoption of Annual Accounts for the financial year ended on March 31, 2015 (Ordinary Resolution). 2. Appointment of an Auditor of the Company and fixing their remuneration (Ordinary Resolution). 3. Reappointment of Mr. Yashwant Thakkar as a managing director of the Company. (Ordinary Resolution) 4. Reappointment of Mr. Rashmikant Thakkar as an executive director of the Company. (Ordinary Resolution) 5. Appointment of Ms. Rashmi Ahuja as an independent director of the Company. (Ordinary Resolution) 6. To Adopt new set of AOA of the Company. (Special Resolution) The Share Transfer books of the Company will remain closed from Saturday, September 19, 2015 to Monday, September 28, 2015 (both days inclusive) for 27th annual general meeting; Members holding shares either in physical form or in dematerialized form, as on the cut-off date of Monday, September 21, 2015 may cast their vote electronically on the Business(es) as set out in the Notice of AGM through electronic voting system of Central Depository Services Limited (“CDSL”). The Members are informed that (a) the electronic transmission/ physical dispatch of Notice of AGM and other documents was done during the period September 03, 2015 to September 04, 2015 (b) the voting through electronic means shall commence on Friday, September 25, 2015 (9:00 am); (c) the voting through electronic means shall end on Sunday, September 27, 2015 (5:00 pm); (d) voting through electronic means shall not be allowed beyond 5:00 P.M. on Sunday, September 27, 2015 ; (e) the Notice of the AGM is available on the Company’s website www.amraplispot.com and CDSL’s website https:// evotingindia.com; and (f) In case you have any queries or issues regarding e-Voting, you may refer the Frequently Asked Questions (“FAQs”) and e-Voting manual available at www.evotingindia.com under help section or write an email to [email protected]. For, AMRAPALI INDUSTRIES LTD. SD/- YASHWANT THAKKAR (Director) DIN: 00071126 AMRAPALI INDUSTRIES LTD. CIN : L91110GJ1988PLC010674 Regd. Office: 19/20/21 Third Floor, Narayan Chambers, B/h Patang Hotel, Ashram Road, Ahmedabad – 380 009 Phone: +91-79-26581329/30,26575105/06 Fax: +91-79-26579169/26584313 Email : [email protected], Website : www.amrapali.com Place : Ahmedabad Date : 04.09.2015 NOTICE OF THE ANNUAL GENERAL MEETING, BOOK CLOSURE AND E-VOTING INFORMATION India’s growth outlook is resilient beyond short-term monsoon effects
Transcript
DisclaimerA d v e r s t i s e m e n tappeared in this NewsPaper have not beenverified factually and“WESTERNTIMES”does not standresponsible for thesales proposition.
3ENTERTAINMENT
Dhanush's fourth release of 2015 setfor Diwali
Chennai, Actor Dhanush is on a roll. With three releases
already in his kitty so far this year, his upcomingTamil outing, which is tentatively titled "VIP 2", willhit the screens on Diwali.
"If all goes as planned, 'VIP 2' will release duringDiwali. There's a lot of shuffling of release dates ofstar-studded films, so a lot depends on the releaseof these films that are slated to hit the screens be-fore 'VIP 2'," a source from the film's unit told IANS.
Being directed by Velraj, who helmed "VIP", thefilm also stars Samantha Ruth Prabhu and Amy Jack-son in lead roles.
Produced by Dhanush's Wunderbar Films, it hasmusic by Anirudh Ravichander.
Dhanush is currently shooting for filmmakerPrabhu Solomon's yet-untitled Tamil action-dramain which he plays a pantry worker.
Next year, he will be seen playing a gangster inVetrimaaran's two-part film "Vada Chennai". He alsohas a yet-untitled political thriller with director R.S.Durai Senthil Kumar.
In Bollywood, Dhanush is expected to team upwith "Ranjhanaa" director Anand L. Rai again.
Would love to do cameos inBollywood: Ravi Teja
Chennai, Actor Ravi Teja says he has no plans of estab-
lishing an alternate career in Bollywood, but admitshe would love to essay cameo roles in interestingHindi projects.
"I'm so busy with Telugu projects that I reallydon't have the time or interest to explore opportu-nities in Bollywood. I recently did a cameo song inKannada film 'Vajrakaya', and I'd love to somethingsimilar on the lines in Bollywood," Ravi Teja toldIANS.
Another reason why he is not keen aboutBollywood is because he believes projects here taketime to be completed.
"Hindi projects take time to be completed, un-like most Telugu films that are wrapped up quickly,"he said, and added that he would love to work withmegastar Amitabh Bachchan.
Currently busy shooting for Telugu actioner"Bengal Tiger", Ravi Teja is expected to start work-ing on the Telugu remake of "Special 26".
Tom Cruise's 'Jack Reacher 2' set forOctober 2016 release
Los Angeles, Hollywood star Tom Cruise will return to his look
of a homicide investigator as production bannerParamount Pictures has scheduled the release dateof "Jack Reacher 2" on October 21, 2016.
Although 2012's "Jack Reacher" wasn't a hugehit at the domestic box office, it will get a sequel af-ter all. The second instalment of the action moviefranchise replaces Warner Bros' disaster-themed
movie "Geostorm",which was moved toJanuary 2017.
"Jack Reacher 2"will face off againsthorror film "Ouija 2"and "Underworld:Next Generation", re-p o r t saceshowbiz.com.
Cruise will returnas the title character,a drifter and formerUS Army Military Po-lice Corps officer.Cobie Smulders is intalks to play Danika,the female lead in thesequel.
Based on LeeChild's novel "NeverGo Back", the sequelfollows Reacher fac-
ing a complicated problem when he heads back tohis old military base in Virginia. He reunites with hisold commander only to discover that she's beenarrested. Things become worse when Reacher findshimself being charged with multiple crimes.
Ed Zwick is set to direct "Jack Reacher 2", thescript of which is penned by Richard Wenk.
Christopher McQuarrie directed the first movie,which grossed $218 million globally against a bud-get of $57 million. As much as $80 million of the to-tal gross was from the US.
Tamil Nadu film producers bodyhalts release of new films
Chennai, The Tamil Nadu Film Producers Council (TFPC)
on Wednesday announced that it will not--Indo-Asian News Service allow the release of any new filmacross all languages in the state until the loss in-curred on superstar Rajinikanth's "Lingaa" wassettled.
In an official statement, the council said no newfilm will be allowed to release in theatres in the statefrom Friday. It also announced that all films that arecurrently running in cinemas in the state will be re-moved if the matter is not settled by September 10.
It all started with actor Vishal Krishna Reddy-starrer "Payyum Puli", produced by Vendhar Movies,who had distributed "Lingaa". Last week, "PaayumPuli" was issued a red card, as Vendhar Movies wasyet to settle losses incurred by "Lingaa".
"Only half of the promised settlement hasreached the distributors of 'Lingaa'. Rajinikanth andthe film's producer Rockline Venkatesh managed tosettle the loss, but distributors from North and SouthArcot, Chengalpet and Trichy are yet to receive thecompensation," a member from the Tamil Nadu The-atres Owners Association told IANS.
The council is expected to hold an emergencymeeting on Thursday to look into the matter.
Los Angeles, Actor Idris Elba, who was deemed "too street"
to play the world-famous spy James Bond, has re-sponded to the comment in the most classy way, byasking all to "always keep smiling" as he learned itfrom the "street" itself.
Anthony Horowitz, the author of the James Bondnovel "Trigger Mortis", did not think that Elba wasthe right choice to play Bond, and called the"Prometheus" actor "too street" for the role.
Elba addressed the issue on Instagram on Tues-day, by posting a screenshot of the article, reportsaceshowbiz.com.
He captioned the image: "Always Keep Smiling!!It takes no energy and never hurts! Learned thatfrom the Street!! septemberstillloveyou".
Horowitz earlier said that there are many otherblack actors who deserve the role more than Elba.
The Prime Minister, Shri Narendra Modi releasing the commemorative coinsof Rs. 125 & Rs. 10 to mark the 125th birth anniversary of Dr. SarvepalliRadhakrishnan, on eve of the Teachers' Day, at Manekshaw Centre, in New Delhion September 04, 2015. The Union Minister for Human Resource Development,Smt. Smriti Irani, the Ministers of State for Human Resource Development, Prof.(Dr.) Ram Shankar Katheria and Shri Upendra Kushwaha and the Minister ofState for Finance, Shri Jayant Sinha are also seen.
SBI Chief frowns on call drops, saysnot good for financial inclusion
Mumbai: SBI chairmanArundhati Bhattacharyajoined the debate on fre-quent call drops, citing apersonal experience of notbeing able to get seamlessconnectivity while drivingalong Marine Drive, andwarned that bad networksare detrimental to financialinclusion agenda.
A drive from my office tomy house, which is alongthe Marine Drive, I have atleast five identified placeswhere the calls drop,Bhattacharya said while ad-dressing the annual FIBACsummit of bankers.
Though on a lighternote, she quipped that it'sgood to have 20 minutes ofpeace while being drivenfrom the bank headquartersin the Nariman Point centralbusiness district to her offi-cial residence at the tonyMalabar Hill area which isless than 6-km away.
Bhattacharya said suchcall drops in the heart of thenation's financial capital re-flect poorly on the countryas a whole.
It doesn't say much forthe country. In a place likeMumbai, and that too on
Marine Drive, if you aren'table to get calls, this is notgood, she said, adding thatsuch coverage by the telcosmight hinder the ambitiousfinancial inclusion plans.
This is an area which isvery important and unlesswe are going to get connec-tivity across the country ata much better bandwidth, itis going to be very difficultto push this agenda (of fi-nancial inclusion and digitalbanking) and take it reallyforward, she said.
She added that manytimes, it is the lack of accessthat makes people not usea banking account and weneed to collectively lookinto this aspect.
It may be noted that formany months, the Govern-ment and the telcos havebeen in a duel over the ris-ing incidence of call drops.The menace assumed im-portance after the govern-ment got an audit done ontelcos to ascertain the issue.
While telcos have foryears been blaming the lackof spectrum and ban onputting up enough numberof towers as the main rea-sons for poor connectivity,
Government of late beganto believe that the mainproblem lies in telcos notinvesting enough to im-prove connectivity. On Au-gust 16, the Department ofTelecommunications (DoT)asked telcos to file weeklyupdate
on call drops. It may benoted that telecom cover-age in the national capital isalso equally bad.
The DoT asked opera-tors to improve connectiv-ity by August 20 in areas likethe I&B Ministry headquar-ters at Sanchar Bhawan, theSupreme Court premises,Shastri Bhawan that housesa host of ministries, the air-port-Rashtrapati Bhawanroute, certain Metro stationsand the high-profileAurangzeb Road.
The Telecom RegulatoryAuthority of India (TRAI) hasfound a two-fold jump incall drops on 2G networksand 65 per cent on 3G in aone-year period.
The industry average ofcall drop incidents at theend of January-March 2015period was 12.5 per centcompared to 6.01 per centa year ago on 2G networks.
Adani enterprises to investRs 25k cr in Chhattisgarh
New Delhi: Adani Enter-prises, the flagship firm ofAdani Group, has inked apact with the Chhattisgarhgovernment to invest overRs 25,000 crore for settingup urea and power projectas well as rice bran oil ex-traction plant in the state.
Adani Group signed aMoU with the Governmentof Chhattisgarh to developtwo critical projects in thestate. The project cost forboth the projects is esti-mated to be around Rs25,200 crore, the GautamAdani-led group said in astatement. The two projectscomprise of a coal to poly-
generation (CTP) projectand a rice bran solvent ex-traction plant and refinery,it added. A poly-generationplant is one that simulta-neously produces two ormore marketable products.
The Memorandum ofUnderstanding (MoU) wassigned betweenChhattisgarh Industry Sec-retary Subodh Kumar Singhon behalf of the state andRajesh Jha and KS Varshneyfrom the Adani Group, thestatement said.
The MoU was signed inthe presence ofChhattisgarh Chief MinisterRaman Singh, Industry Min-
ister Amar Agrawal, ChiefSecretary VivekDhandh andAdani Enterprises Manag-ing Director Rajesh Adani, itadded.The first project to beset up is a CTP project thatincludes an Ammonia/Ureaand Substitute Natural Gas(SNG) complex via gasifica-tion of Indian high ash coalsourced from within thestate, it said. The project costis estimated to be over Rs25,000 crore and includescoal to urea, coal to SNGplant as well as coal-basedthermal power plant. It hasa potential to generate5,000 jobs in Chhattisgarh,it added.
Moody’s flags monsoon risks,cuts India growth forecast to 7%
New Delhi: Cautioningthat slow reforms pacecould dent growth, Moody’sInvestors Service cut India’sgrowth forecast for this fis-cal to around 7 per centfrom 7.5 per cent projectedearlier, citing below-normalrainfall.
We have revised ourGDP growth forecast downto around 7 per cent in lightof a drier-than-averagemonsoon although rainfallwas not as low as feared atthe start of the season,Moody’s Investors Servicesaid in its ‘Global Macro Out-look for 2015-16’.
Saying India’s growthoutlook is resilient beyondshort-term monsoon ef-fects, Moody’s has retained
growth forecast for 2016-17at 7.5 per cent.
One main risk to ourforecast is the pace of re-forms slows significantly asconsensus behind the needfor reforms weakens oncethe least controversial as-pects of the Government’splan have been imple-mented, Moody’s said.
The key reforms legisla-tion with regard to GST andland acquisition could notbe passed by Parliament inthe monsoon session be-cause of political logjam.
Moody’s growth projec-tion is lower than the esti-mates of International Mon-etary Fund (IMF), which pro-jected India to grow at 7.5per cent in 2015-16.
Both Moody’s and IMF’s
growth projections, how-ever, are lower than the es-timates of the Finance Min-istry and RBI. The Ministryexpects GDP growth to be8-8.5 per cent while the RBIhas pegged it at 7.6 per centfor 2015-16.
Moody’s Sovereign Rat-ing Analyst AtsiSheth said:We reiterate that at 7 percent, we are forecasting In-dia to be among the fastest-growing large emergingmarkets this year. And weexpect growth to accelerateby next year.
Sheth said the GDP fore-cast hinges on three param-eters. First, the recentmacro-economic and bankcredit growth data, whichshows economic indicatorsare moving in a positive di-
rection, albeit slowly.Second, although this
year’s monsoon is less weakthan originally anticipated,its performance was suchthat a significant boost torural incomes is unlikely inthe near term, limiting animportant driver of growthin India.
Last, given generallysubdued global growthconditions and uncertainglobal financial environ-ment, external markets havealso not provided a growthboost, Sheth explained.
On inflation, Moody’ssaid: Barring a large shock tocommodity prices or foodinflation, we think that thecentral bank’s inflation tar-gets are achievable.
Moody’s Investors Ser-vice said economic activityin India will continue tostrengthen on the back of agradual implementation ofreforms spurring domesticand foreign investment.
Maintaining inflation atlower levels than in the pastwill support real incomesand spending. As long asthe central bank’s objectiveis credible, it will also fosterinvestment by providingmore visibility about futurerevenue growth and mar-gins, it said.
Inflation, both whole-sale and retail, has hit recordlows. While retail inflationwas at 3.78 per cent, WPIstood at (-) 4.05 per cent inJuly.Moody’s said growth in2015-16 will also be sup-ported by an accommoda-tive fiscal policy stance anda Budget that focuses onsustained economic growthas a driver of narrower defi-cits.
It said as a net importerof commodities, India’sgrowth outlook benefitsfrom the fall in commodityprices over the past year.Also, the country is little af-fected by demand fromChina and more generally,slower global trade growth.
As regards China,Moody’s maintained itsbaseline GDP growth fore-cast of 6.8 per cent for 2015and 6.5 per cent in 2016, be-fore falling towards 6 percent by the end of the de-cade.
Niche banks: SBI Chief says itcould be a 'dog-eat-dog' market
Mumbai: State Bank ofIndia (SBI) chief ArundhatiBhattacharya again ex-pressed fears over the entryof payments banks, sayingthey are agile and have anedge as they are not boundby industry-level wageagreement swhich canlead to 'a dog-e a t - d o g ' sworld'.
E x i s t i n gu n i v e r s a lbanks standto face chal-lenges giventhe fact that these bankswill be coming in withoutany risk, that they will becoming in with an agile sys-tem and delivery modelsand that they've not beenheld hostage by industry-level agreements and wagelimits, she said.
Citing the experience ofe-commerce firms, she saidif the new banks have beengiven to big industrialists,and if they decide to burncapital to gain market shareinitially, it will be a very diffi-cult situation for the exist-ing lenders.
It is going to be a dog-eat-dog's world, sheadded.Bhattacharya's refer-ence of the payments banksnot being held hostage bylegacy issues like wagesettlements refers to thejust-concluded negotia-tions with unions, whereinthe lenders have committedfor a 15 per cent hike in sala-
r ies that has resulted ingreater provisioning anddented profits.
It can be noted thatIndia's largest lender haspicked up as much as 30 percent stake in the payments
bank entitythat Reli-ance Indus-tries will belaunchingsoon.
The RBIG o v e r n o rRaghuramRajan at a fi-nance con-c l a v e ,
Bhattacharya expressedfears about the paymentsbanks eating into the busi-ness of universal banks dueto their technological ad-vantages.
Bhattacharya reiteratedthat payments banks, forwhich RBI issued in-prin-ciple nods to 11 aspirantslast week, will cannibaliseour existing customer base.Therefore, it is incumbenton the existing lenders tothink of strategies to take onthe new entities, she said.
On August 19, as manyas 11 entities such as Reli-ance, Airtel, Vodafone, BirlaGroup and India Post,among others, weregranted in-principle nod byRBI to set up non-lendingpayments banks as part ofthe financial inclusion drive.
Bhattacharya furthersaid these nimble new en-trants can cannibalise theuniversal banks' existing
customer base, which shedescribed as a realchallenge.When their agilesystems and delivery mod-els come together, compe-tition is going to be tougher.All of us incumbent playersmust look at it and decidewhat should be our re-sponse, she said.
Sun Pharma promoterDilipShanghvi and VijayShekharSharma of PayTMalso got approval in their in-dividual capacities.
WESTERN TIMES AHMEDABADMONDAY, 7/9/2015
Notice is hereby given that:The Annual General Meeting (AGM) of the Company will be heldat the Registered office of the Company situated at 19/20/21 ThirdFloor, Naranyan Chambers, B/h Patang Hotel, Ashram Road,Ahmedabad, Gujarat – 380 009 on Monday, 28th day ofSeptember, 2015 at 11:00 A. M To transact the following business.1. Adoption of Annual Accounts for the financial year ended on
March 31, 2015 (Ordinary Resolution).2. Appointment of an Auditor of the Company and fixing their
remuneration (Ordinary Resolution).3. Reappointment of Mr. Yashwant Thakkar as a managing director
of the Company. (Ordinary Resolution)4. Reappointment of Mr. Rashmikant Thakkar as an executive
director of the Company. (Ordinary Resolution)5. Appointment of Ms. Rashmi Ahuja as an independent director
of the Company. (Ordinary Resolution)6. To Adopt new set of AOA of the Company. (Special Resolution)The Share Transfer books of the Company will remain closedfrom Saturday, September 19, 2015 to Monday, September 28,2015 (both days inclusive) for 27th annual general meeting;Members holding shares either in physical form or indematerialized form, as on the cut-off date of Monday, September21, 2015 may cast their vote electronically on the Business(es)as set out in the Notice of AGM through electronic voting systemof Central Depository Services Limited (“CDSL”).The Members are informed that (a) the electronic transmission/physical dispatch of Notice of AGM and other documents wasdone during the period September 03, 2015 to September 04,2015 (b) the voting through electronic means shall commence onFriday, September 25, 2015 (9:00 am); (c) the voting throughelectronic means shall end on Sunday, September 27, 2015 (5:00pm); (d) voting through electronic means shall not be allowedbeyond 5:00 P.M. on Sunday, September 27, 2015 ; (e) the Noticeof the AGM is available on the Company’s websitewww.amraplispot.com and CDSL’s website https://evotingindia.com; and (f) In case you have any queries or issuesregarding e-Voting, you may refer the Frequently Asked Questions(“FAQs”) and e-Voting manual available at www.evotingindia.comunder help section or write an email [email protected].
Notice is hereby given that:The Annual General Meeting (AGM) of the Company will be heldat the Registered office of the Company situated at 19/20/21 ThirdFloor, Naranyan Chambers, B/h Patang Hotel, Ashram Road,Ahmedabad, Gujarat – 380 009 on Monday, 28th day ofSeptember, 2015 at 11:00 A. M To transact the following business.1. Adoption of Annual Accounts for the financial year ended on
March 31, 2015 (Ordinary Resolution).2. Appointment of an Auditor of the Company and fixing their
remuneration (Ordinary Resolution).3. Reappointment of Mr. Yashwant Thakkar as a managing director
of the Company. (Ordinary Resolution)4. Reappointment of Mr. Rashmikant Thakkar as an executive
director of the Company. (Ordinary Resolution)5. Appointment of Ms. Rashmi Ahuja as an independent director
of the Company. (Ordinary Resolution)6. To Adopt new set of AOA of the Company. (Special Resolution)The Share Transfer books of the Company will remain closedfrom Saturday, September 19, 2015 to Monday, September 28,2015 (both days inclusive) for 27th annual general meeting;Members holding shares either in physical form or indematerialized form, as on the cut-off date of Monday, September21, 2015 may cast their vote electronically on the Business(es)as set out in the Notice of AGM through electronic voting systemof Central Depository Services Limited (“CDSL”).The Members are informed that (a) the electronic transmission/physical dispatch of Notice of AGM and other documents wasdone during the period September 03, 2015 to September 04,2015 (b) the voting through electronic means shall commence onFriday, September 25, 2015 (9:00 am); (c) the voting throughelectronic means shall end on Sunday, September 27, 2015 (5:00pm); (d) voting through electronic means shall not be allowedbeyond 5:00 P.M. on Sunday, September 27, 2015 ; (e) the Noticeof the AGM is available on the Company’ s websitewww.amraplispot.com and CDSL’s website https://evotingindia.com; and (f) In case you have any queries or issuesregarding e-Voting, you may refer the Frequently Asked Questions(“FAQs”) and e-Voting manual available at www.evotingindia.comunder help section or write an email [email protected].
NOTICE OF THE ANNUAL GENERAL MEETING,BOOK CLOSURE AND E-VOTING INFORMATION
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