Transcript of KOLKATA | 17OCTOBER2020
SURAJEET DAS GUPTA NewDelhi,16October
W ith Facebook hoping to get the Reserve Bank of India’s (RBI’s)
permission for WhatsApp Pay
soon, the company is bracing itself up to take on its rivals Google
Pay, Walmart’s PhonePe, Alibaba-backed Paytm, and Amazon Pay in the
growing UPI-based digital payments market.
According to industry estimates, the biggest player is Google Pay
with over a 40 per cent market share, closely fol- lowed by
PhonePe. Facebook, accord- ing to sources, has complied with the
RBI’s rules on data localisation. This, experts say, was a key
reason for the delay in getting the green signal, though the
company declined to comment on this issue.
However, Abhijit Bose, head of Indian operations, said: “We are
keen to launch WhatsApp Payments in the country and will continue
to work with the government, local banks, and other institutions to
understand their require- ments, drive innovation, and provide
financial services, inclusivity, and empowerment across the
socio-eco- nomic spectrum.”
Bose said the payments feature on WhatsApp was free for people to
use. “Our goal is to helpmaking payment as easy as sending a
message,” he said. So canWhatsApp become India’sWeChat?
The Chinese app, which combined messengerwith payments, transformed
into a “super app”, providing customers services such as flight
booking, car hail- ing, movie tickets, paying for utilities, among
others, without leaving the app. Its customer base covers over 83
per cent of the Chinese population.
WhatsApp up is nowhere there in terms of penetration. But with over
400 million users, it is the most used app in the country,
representing a third of the country’s population. Even theUPIplat-
form, run by the National Payments Corporationof India,hasover
150million
customersdespite the fact that ithas seen a 50per cent increase
inpeople joining it duringCovid-19.AsBofAResearchpoints out, with
the launch of WhatsApp, it expects this to goupbecausemany first-
time usersmight join it.
So what does it bring to the table? Based on the data from
SimilarWeb, which tracks trends in online sites and apps, in August
this year, daily active users ofWhatsAppwere at 177.8million,
nearly five times the combined number of Google Pay, PhonePe, and
Paytm.
More importantly, the amount of time spent by each user on
themessen- ger is over nine times that of its nearest rival in the
business. That is not all. Despite a large subscriber base, Whats-
App has an average monthly download of 30.8 million (based on
SimilarWeb numbers), which is double that of its nearest rival.
Also customers use the app seven to ten times a day, a feat dif-
ficult to achieve for its rivals. However, experts saywhile the
potential customer base is huge, what would determine its success
is what percentage of those use the payment option.
There are other areas WhatsApp could leverage -- and a key one is
its tie- upwithReliance Jio’s e-commerce plat- form Jio Mart
(Facebook has taken 9.9
per cent in Jio Platforms). As part of the tie-up, Jio Mart, which
went for a com- mercial launch a few months ago (cur- rently it has
over 7million subscribers), will be integrated into WhatsApp in
such away that buyers and over 30mil- lion kirana shops can book
orders and deliver productswithout having to leave the messenger
site.
Sources say talks are on to integrate WhatsApp Pay for these
transactions. If that happens, this would provide large volumes of
payment transactions for WhatsApp (currently UPI handles 5 bil-
lion financial transactions a month).
The company couldworkwith other players (as it is not an exclusive
arrange- ment) to do this.
WhatsApp is also planning to offer financial services — credit,
pension products, and insurance — targeted at lower-income sections
in rural areas and to small andmediumenterprises. Bose, in a recent
fintech conference, said it had been working with leading banks
likeHDFCBank, ICICI Bank, and Kotak Mahindra Bank to bring in
financial services to those who are outside the banking system.He
said ICICI Bank and Kotak Mahindra had reached 3 million new users
by leveraging WhatsApp’s large customer base.
WhatsApp Pay gears up to take on major rivals
SACHIN P MAMPATTA Mumbai,16October
On Thursday, it was revealed that Mauritius subsidiary UPL
Corporation’s auditorKPMGMauritiushadresignedwith effect
fromOctober8. It clarifiedonFriday that a KPMG sub-licencee
continues to audit theparentcompany. It also included a note from
the Mauritius auditor, which said that there was nothing about the
res- ignationthatit feltwasnecessarytotell the board. “There are no
circumstances con- nectedwithourresignationwhichwecon-
sidershouldbebroughttothenoticeofthe members,” it said.
Resignationshavepreviouslyresultedin significant declines when
investors have seen them as a negative signal on compa- nies’
financials. “It is strange that anaudi- tor of a large material
subsidiary resigns mid-termwithout ascribing any reasons...
Thecompanyshouldcommunicatetherea-
sonsthatledtothisresignationtotheshare- holders,” said Shriram
Subramanian, founderandmanagingdirectorofInGovern Research
Services, which advises on cor- porategovernance issues.
The sudden exit of an auditor is not a
healthysignforcompaniesingeneral,said
AmitTandon,founderandmanagingdirec- tor of advisory firm
Institutional Investor Advisory Services India. “Any mid-term
(resignations)ofauditorsneedtobelooked at closely,”he said.
The company, which manufactures chemicals used in agriculture,
including insecticides andherbicides, had recorded over ~35,700
crore in revenue fromopera- tions in financial year 2019-2020
(FY20). Shareholders in the parent company had
anattributablenetprofitof~1,776crore. Its Mauritius subsidiary had
been a vehicle for a major acquisition in the previous
financialyear.Thelatestannualreportnot- edthat
ithadcompletedintegrationof the $4.2 billion acquisition of Arysta
Life- Science ahead of schedule. This was expected tohelp
optimisemanufacturing and with research and development, amongother
gains.
“Following the acquisition of Arysta LifeScience,webecameoneof the
top five agricultural solutions companies world- wide. As a new
company, we now offer an integrated portfolio of both patented and
post-patent agricultural solutions for vari- ous arable and
specialty crops, including biological,cropprotection,seedtreatment
and post-harvest solutions spanning the entire crop value chain,”
the firm’s FY20 annual report said.
UPLstockslipsafterMauritius subsidiary’sauditor resigns
users(mn) Averagedailytimespendperuser(min)
WhatsApp Paytm Google Pay PhonePe
177.8 9.6 15.3 12.6
45m30sec 4m40s 3m39s 5m9s
Messengerapphas anaveragemonthly downloadof30.8mn
BAIJU KALESH & SARITHA RAI 16October
BlackstoneGroup Inc. is nearing a deal to buy an Indian developer’s
commer- cial properties for about $2 billion, according to people
with knowledge of thematter.
The US private equity group is in advanced talks to acquire
Prestige Estates Projects’s rent-yielding assets including offices
and operating malls, thepeople said, askingnot tobe identi- fied as
the discussions are private. Termshaven’tbeen finalisedandnego-
tiations could still be delayed or fall apart, the people
said.
A representative for Blackstone
declined to comment. An email to Prestige wasn’t immediately
answered outsideofbusinesshours inIndiaFriday.
Blackstone is the largest owner of commercial real estate in India
with a total investmentofaround$7.8billionas of March 2020. It has
built its portfolio overmorethanadecade,buyingupmore properties as
India’s economyslowed in recentyears.Tworealestate investment
trusts backed by Blackstone have also been listedon India’s
publicmarkets.
Prestige Estate is one of the largest developers in southern India.
It has about 45 ongoing projects spanning 52 millionsquare
feet,withanother57mil- lion square feet under construction.
BLOOMBERG
Registered Office: Hathkhoj Village, Industrial Area, Dist. Bhilai,
Durg, Chhattisgarh - 490026 Email: bec_bhilai@rediffmail.com
Website: www.bec-group.com Phone: 0788-4088100, 4088144
POSTAL BALLOT NOTICE Notice is hereby given pursuant to Section 110
of Companies Act, 2013 and other applicable provisions, if any, of
the Companies Act, 2013 (“the Act”) read with Rule 20 and 22 of the
Companies (Management and Administration) Rules, 2014 (“the Rules”)
(including any statutory modification or re-enactment thereof for
the time being in force), Regulation 44 of Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“SEBI Listing Regulations”), General Circular
Nos.14/2020,
th17/2020, 22/2020 and 33/2020 dated April 8, 2020, April 13, 2020,
June 15, 2020 and 28 September, 2020 respectively, issued by
Ministry of CorporateAffairs (the “MCACirculars”) including any
statutory modification or re-enactment thereof for the time being
in force,
ththat the Resolutions as set out in Postal Ballot Notice dated 15
October, 2020 is proposed to be passed by the members of the
Company by Postal Ballot (only through remote e-voting). Members
are hereby informed that: 1. Special Business as set out in the
Postal Ballot Notice may be transacted through voting by electronic
means only.The 2. The E- Voting period shall commence from th
thMonday, 19 October, 2020 at 9:00 a.m. (IST) and will end on
Tuesday, 17 November,
2020 at 5.00 p.m. (IST). 3. On account of the threat posed by
COVID-19 and in terms of MCA Circulars, the Company has sent the
Postal Ballot notice in
electronic form only. The hard copy of the Postal Ballot Notice
alongwith with Postal Ballot Forms and pre-paid business reply
envelope is not sent to the members for the postal ballot in
accordance with the requirements specified under the MCA circulars.
Accordingly, the communication of the assent or dissent of the
members would take place through the remote e-voting system only.
The Company has completed the dispatch of the Postal Ballot Notice
alongwith the Explanatory Statement (in electronic form) to
all
ththe members by 17 October, 2020 to those shareholders whose names
appear in the Register of Members/ List of Beneficial Owners as on
i.e. cut-off date.thThursday, 15 October, 2020
4. Any person, who acquires shares of Company and become Member of
the Company after email of the Postal Ballot Notice, may obtain the
login ID and password by sending a request to Sharex Dynamic
(India) Private Limited (Registrar and Share Transfer Agent of the
Company) at . However, if a person is already registered with Link
Intime Private Limited.evoting@sharexindia.com (“Link Intime”) for
remote e-voting then existing user ID and password can be used for
casting vote.
5. Members may note that: a) The remote e-voting module shall be
disabled by Link Intime Private Limited (Link Intime) after the
aforesaid date and time for voting and once the vote on a
resolution is cast by the member, the member shall not be allowed
to change it subsequently. b) The voting shall be reckoned in
proportion to a Member's share of voting rights on the Paid up
Equity Share capital of the Company
thas on Thursday, 15 October, 2020. c) The Postal Ballot Notice
shall also be uploaded on Company's website at and on the website
of Link Intimewww.bec-group.com i.e.
https://instavote.linkintime.co.in d) Any member who does not
receive the Postal Ballot Notice may send an email to and obtain
Postalbec_bhilai@rediffmail.com Ballot Notice. The Postal Ballot
Notice can also be downloaded from the Company's website i.e.
www.bec-group.com
6. The Company has appointed , asCS Shreyans Jain, Proprietor of
M/s. Shreyans Jain & Co., Company Secretaries (FCS No.: 8519)
the Scrutinizer for conducting the Postal Ballot only through
Remote E-voting process in a fair and transparent manner.
7. The Scrutinizer will submit their report thof the votes cast in
favour or not in favour / against, to the Chairman on Thursday, 19
November, 2020. The result of the Postal Ballot would be announced
by the Chairman or a person authorized by him in writing on
thThursday, 19 November, 2020 The results declared along with the
scrutinizer's reportat the Registered Office of the Company. shall
be placed on the website of the Company viz. , on the website of on
the website of Link Intime i.e.www.bec-group.com
https://instavote.linkintime.co.in and communication of the same to
Calcutta Stock Exchange Limited and BSE Limited. In case the
shareholders have any queries or issues regarding e-voting, refer
the Frequently Asked Questions (“FAQs”) andplease Instavote
e-Voting manual available at , under Help section or send an email
tohttps://instavote.linkintime.co.in enotices@linkintime.co.in or
contact on: - Tel: 022 –4918 6000. Members may also write to the
Compliance Officer for any grievances connected with facility for
voting by electronic means at following:
Name: Mr. Veenu Jain Designation: Managing Director &
Compliance Officer Address: Hathkhoj Village, Industrial Area,
Dist. Bhilai, Durg, Chhattisgarh - 490026 Email id:
bec_bhilai@rediffmail.com Phone No: 0788-4088100, 4088144
Sd/- Veenu Jain
The Singareni Collieries Company Limited (A Government
Company)
Regd. Office: KOTHAGUDEM-507101, Telangana.
E-PROCUREMENT TENDER NOTICE Tenders have been published for the
following Services / Material
Procurement through e-procurement platform. For details, please
visit https://tender.telangana.gov.in - or -
https://www.scclmines.com NIT/Enquiry No.- Description/ Subject -
Last date and time for
Submission of bid(s) E1520O0255- Procurement of Welding & Gas
Cutting Accessories of ESAB INDIA LTD., on Rate Contract basis for
a period of 2 Years- 03.11.2020-17.00 Hrs. E1520O0248- Supply of
350 HP Centrifugal Pumps with and without Mech Accessories-
03.11.2020-17.00 Hrs. E1020O0234- Procurement of FT 7 & TR
CABLES- 07.11.2020-17.00 Hrs.- GM(MP)
NIT No., Date - Name of the work - Estimated Contract Value- Last
date & time for Submission of bids
RG-III/CVL/T-31/20-21, - Repairs/Replacement of damaged gantry at
OCP-I CHP, RG-III area - Rs.40,79,321/- 20.10.2020- 4.30 P.M. -
Dy.GM(Civil)/RG.III CRP/CVL/STPP/TN-50/20-21, Dt. 12.10.2020 -
Maintenance of Private Railway siding of Singareni Thermal Power
Plant of M/s SCCL taking-off from Mancherial KZJ-BPQ section on
Secunderabad Division of SC Railways for two years (2020-21 &
2021-22) at STPP, Jaipur (V&M), Mancherial Dist., T.S -
Rs.4,49,37,841/- 28.10.2020 - 4.30 P.M. - GM(Civil)
CW/STPP/E-20/T-25/2020-21, Dt. 09.10.2020 - Miscellaneous works at
CISF Complex like CC pavements & morchas at Armoury building
and preparation of parade ground with stage & martyrs column
etc at STPP, Jaipur (V&M), Mancherial District, Telangana State
- Rs.41,08,995/- 28.10.2020 - 4.30 P.M.
- Dy.GM(Civil)/I/C STPP (Civil) CW/RD/e-53/2020-21, Dt. 15.10.2020
- M & R and other miscellaneous works to GKOCP and Area Stores
at Kothagudem area for the year 2020-21 - Rs.36,83,126/- 02.11.2020
- 4.30 P.M. - Dy.GM(Civil) PR/2020-21/MP/CVL/52 R.O. No. :
1024-PP/CL-AGENCY/ADVT/1/2020-21
(CIN): U51109WB1999PTC089112
: , – , – : –
/ / ;
–
, , – , – ( ‘ ’ ) , , , – , – ( ‘ ’ ) , – , – ( ‘ ’ ) – ....
, , ( ‘ ’ ) – ( ‘ ’ ) , ( ‘ ’ ) ( ‘ ’ ) – – : –
( )
,
. , , , , II , , –
.
– ( ) , – , – ( ) – : , : ,
: – [ ( ) , –
] , , , , – ( ) ( ) , – – ( ) – ( )
: , CIN:U51101WB2010PTC148211, , : , , , – , – , ,
.... , , , – ‘ ’ ‘ ’ – – , / – (www.mca .gov.in) – , , , , , / , .
. . , – – ( / )
DIN: , , ,
–
: . . :
: , , , – , –
/ / / /
, ,
( ) , , , , , https://translation.nltr.org
–
‘ ’ ,
,
. . .
, – , , ’
, ,
,
’
, , ,
ICA-1316 (5)/2020