FORM G INVITATION FOR EXPRESSION OF INTEREST

(Under Regulation 36A (1) of the Insolvency and Bankruptcy (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

RELEVANT PARTICULARS

1. Name of the corporate debtor Kwality Limited

2. Date of incorporation of corporate debtor 21st August, 1992

3. Authority under which corporate debtor is incorporated / registered Registrar of Companies – Delhi

4. Corporate identity number / limited liability identification number of corporate debtor

L74899DL1992PLC255519

5. Address of the registered office and principal office (if any) of corporate debtor

KDIL House, F-82, Shivaji Place, Rajouri Garden New Delhi West Delhi - 110027

6. Insolvency commencement date of the corporate debtor 11th December, 2018 (Order received on 18th December, 2018)

7. Date of invitation of expression of interest 25th February, 2019

8. Eligibility for resolution applicants under section 25(2)(h) of the Code is available at:

The detailed EOI and the Eligibility Criteria are available at the website of the Corporate Debtor: www.kwality.com

9. Norms of ineligibility applicable under section 29A are available at: Website of the Corporate Debtor: www.kwality.com

10. Last date for receipt of expression of interest 12th March, 2019

11. Date of issue of provisional list of prospective resolution applicants 22nd March, 2019

12. Last date for submission of objections to provisional list 27th March, 2019

13. Date of issue of final list of prospective resolution applicants 6th April, 2019

14. Date of issue of information memorandum, evaluation matrix and request for resolution plans to prospective resolution applicants

27th March, 2019

15. Manner of obtaining request for resolution plan, evaluation matrix, information memorandum and further information

The Resolution Professional will share the documents through Electronic Mail or Virtual Data Room after verification of KYC, eligibility under section 29A of IBC, 2016 and prequalification criteria, as approved by COC.

16. Last date for submission of resolution plans 26th April, 2019 17. Manner of submitting resolution plans to resolution professional Sealed Envelope or through electronic mail as

mentioned in the request for resolution plans (process note).

18. Estimated date for submission of resolution plan to the Adjudicating Authority for approval

24th May, 2019

Mr. Shailendra Ajmera Reg No.: IBBI/IPA-001/IP-P00304/2017-18/10568

Reg Add: Ernst & Young LLP, 3rd Floor, Worldmark 1, Aerocity Hospitality, New Delhi- 110037

Resolution Professional for Kwality Limited Date: February 25, 2019 Place: New Delhi

19. Name and registration number of the resolution professional Mr. Shailendra Ajmera IP Registration No.: IBBI/IPA-001/IP-P00304/2017-18/10568

20. Name, Address and e-email of the resolution professional, as registered with the Board

Mr. Shailendra Ajmera Address: Ernst & Young LLP, 3rd Floor, Worldmark 1, Aerocity Hospitality, New Delhi, National Capital Territory of Delhi, 110037 Email Id: shailendra.ajmera@in.ey.com

21. Address and email to be used for correspondence with the resolution professional

Address: Ernst & Young LLP, 3rd Floor, Worldmark 1, Aerocity Hospitality, New Delhi, National Capital Territory of Delhi, 110037 Email Id: ipresolution.kwality@in.ey.com

22. Further Details are available at or with Mr. Shailendra Ajmera Email Id: ipresolution.kwality@in.ey.com Website: www.kwality.com

23. Date of publication of Form G 25th February, 2019

The Economic Times - Delhi, 2/25/2019 Cropped page Page: 7

post listing.“We will be resuming strata sales

(or sales to retail or individual in-vestors) of office assets as many in-vestors are looking to invest in yiel-ding assets. This will also give us re-quired liquidity as we look to scaleup our commercial business. Howe-ver, we will continue to retain majo-rity of the portfolio,” said PrestigeGroup CEO Venkat K Narayana.

The company has 23 million squa-

vate deal for its annuity portfolio(after the GIC deal fell through in2QFY19), it might look to either tapthe capital markets or look for a 25%stake sale,” said the HDFC Securiti-es report on the company.

The real estate firm, which has be-en focused on southern India so far,is also making an entry into Pune,with a commercial office projectspread over a million sq ft, to expandits footprint.

could not be concluded. “We have no plans to sell stake in

the office portfolio currently,” saidNarayana.

According to a recent research re-port of HDFC Securities, followingan increase in its rental income,Prestige Estates Projects will havemultiple avenues of deleveragingits balance sheet, for instance thro-ugh real estate investment trust.

“With PEPL not looking at any pri-

re feet of office portfolio operatingand under construction, in sout-hern cities. It is targeting an increa-se in rental income to Rs 2,600 croreby 2022-23, up from Rs 860 crore now.

Its rental business is valued at Rs10,000 crore at 8% yield, and it hadearlier planned to raise money thro-ugh stake sale. It had signed a termsheet with GIC in 2018 to sell a 40%stake in a clutch of office projectsfor about Rs 2,000 crore but the deal

Prestige to Sell 25% Offices to Individual InvestorsSobia.Khan

@timesgroup.com

Bengaluru: Real estate developerPrestige Estates Projects Limited(PEPL) plans to sell 25% of its officeportfolio to individual investors toexpand its commercial business.

The Bengaluru-based firm, whichthat got listed in 2010, ceased to selloffice assets to individual investors

CEO Mike Holland told PTI.“We already have a strong bo-

ok of anchor and strategic in-vestors. The REIT will be suc-cessful as in other countriesand Embassy Office Parks willset a precedent for the REIT inIndia,” he said.

Holland expressed confidencethat the REIT in India would besuccessful as it has been inother countries like the US, theUK, Australia and Singapore.

When asked about the size ofthe issue and expected return toinvestors on its REIT platform,he declined to comment.

Banking sources had earlierpegged the issue size at over Rs5,000 crore. The internal rate ofreturn (IRR) for unit holders isexpected at around 9 per cent inthe first year and about 18 percent in a five-year horizon.

Embassy Office Parks, a lea-ding player in commercial realestate, has put 33 million sq ft ofoffice and hospitality assets un-der its proposed REIT compri-sing of seven business parksand four city-centric buildingsspread across Mumbai, Benga-luru, Pune and Noida.

Press Trust of India

New Delhi: Global investmentcompany Blackstone and real-ty firm Embassy Group will ina few weeks launch the count-ry's first real estate investmenttrust (REIT) with an estimatedissue size of Rs 5,000 crore, atop company official said. Em-bassy Office Parks, the jointventure firm of Blackstoneand Embassy, had in Septem-ber last year filed the draft redherring prospectus (DRHP)with the market regulator Sebito launch REIT, touted as theAsia's largest in terms of port-folio size of 33 million sq ft.

REIT is an investment toolthat owns and operates rent-yi-elding real estate assets. It al-lows individual investors tomake investment in this plat-form and earn income. Sebihad notified REIT's regula-tions in 2014, allowing settingup and listing of such trusts,which are very popular in so-me advanced markets. “We willlaunch our REIT in few we-eks,” Embassy Office Parks

Blackstone, Embassyto Launch India’s 1stREIT in a Few Weeks

7�THE ECONOMIC TIMES | NEW DELHI / GURGAON | MONDAY | 25 FEBRUARY 2019 | WWW.ECONOMICTIMES.COM

Companies: Pursuit of Profit

CCI NG 3.7 Product: ETDelhiBS PubDate: 25-02-2019 Zone: DelhiCapital Edition: 1 Page: ETDCP14 User: rakesh.gupta2 Time: 02-25-2019 00:02 Color: CMYK

FORM GINVITATION FOR EXPRESSION OF INTEREST

Under Regulation 36A (1) of the Insolvency and Bankruptcy Board of India(Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Relevant Particulars1. Name of the corporate debtor Kwality Limited2. Date of incorporation of corporate debtor 21stAugust,19923. Authority underwhich corporate debtor is Registrar of Companies - Delhi

incorporated /registered4. Corporate identity number / limited L74899DL1992PLC255519

liabilit y identification number ofcorporate debtor

5. Address of the registered office and KDIL House , F-82 , Shivaji Place, Rajouriprincipal office (if any) of corporate Garden New Delhi West Delhi - 110027debtor

6. Insolvency commencement date of the 11th December , 2018corporate debtor (Order received on 18th December , 2018)

7. Date of invitation of expression of interest 25th February, 20198. Elig ibility for resolution applicants under The detailed E01 and the Eligibility Criteria

section 25(2)(h) of the Code is available are available at the website of the Corporateat: Debtor: www . kwality .com

9. Norms of ineligibility applicable under Website of the Corporate Debtor:section 29Aare available at: www.kwalit y.com

10.Last date for receipt of expression of 12th March , 2019interest

11. Date of issue of provisional list of 22nd March , 2019prospect ive resolution applicants

12. Last date for submission of objections to 27th March , 2019provisional list

13. Date of issue of final list of prospective 6th April , 2019resolution applicants

14.Date of issue of in format ion 27th March , 2019memorandum , evaluation matrix andrequest for resolution plans toprospective resolution applicants

15.Manner of obtaining request for The Resolution Professional will share theresolution plan , evaluation matrix , documents through Electronic Mail or Virtualinformation memorandum and further Data Room after verification of KYC,information eligibility under section 29Aof IBC, 2016 and

prequalification criteria , as approved byCOC.

16. Last date for submission of resolution 26th Apr il , 2019plans

17. Manner of submitt ing resolution plans to Sealed Envelope or through electronic mailresolution professional as mentioned in the request for resolution

plans (process note).18.Estimated date for submission of 24th May, 2019

resolution plan to the AdjudicatingAuthority for approval

19.Name and registration number of the Mr. Shailendra Ajmeraresolution professional IP Reg istration No.: IBBI /IPA-001/ IP-

P00 30412 01 7-1 8 /1 0 56 820.Name , Address and e-email of the Mr.ShailendraAjmera

resolution professional , as registered Address : Ernst & Young LLP. 3rd Floor,with the Board Worldmark 1, Aerocity Hospitality, New

Delhi, National Capital Territory of Delhi,110037Email Id : shailendra.ajmera@in.ey.com

21.Address and email to be used for Address: Ernst & Young LLP, 3rd Floor,correspondence with the resolution Worldmark 1, Aerocity Hospitality, Newprofessional Delhi , National Capital Territory of Delhi,

110037Email Id: ipresolution.kwality@in.ey.com

22. Further Details are available at orwith Mr. ShailendraAjmeraEmail Id: ipresolution.kwality@in.ey.comWebsite : www.kwality.com

23. Date of publication of Form G 25th February, 2019

Mr. Shailendra AjmeraRea No.: : : IBBI/IPA-001/IP-P00304/2017-18/10568

Reg Add : Ernst & Young LLP, 3rd Floor,Date: February 25 , 2019 Worldmark 1, Aerocity Hospitality, New Delhi- 110037Place : New Delhi Resolution Professional for Kwality Limited

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The Economic Times - Kolkata, 2/25/2019 Cropped page Page: 5

5�THE ECONOMIC TIMES | KOLKATA | MONDAY | 25 FEBRUARY 2019 | WWW.ECONOMICTIMES.COM

Economy & Companies

Infosys’ Salil ParekhIn Action Mode

Salil Parekh hasgot Infosys to takesmart bets ondigital technologi-

es, focus on its services andexecution while chasing largedeals. Markets have quicklyforgiven its past follies.

Treebo Still Has aChance

The brandedbudget-hotelstartup’s pro-blems are a classic

example of what happenswhen you take on a rivalwith monopolistic ambi-tions. However, it still has achance to stay in the fight ifits investors don't give up.

Tracing DG Shah’sLegacy

It is rare in theindustry to havesomeone who kepthis head down and

did not allow logic to beoverpowered by optics anddecibels. The demise of DGShah, secretary general ofIndian Pharmaceutical Allian-ce, an umbrella organisationof leading Indian drug ma-kers, has left a vacuum toolarge to be filled.

TODAY ON

sing gets very attractive with GST @ 1%”.The GST Council deferred a decision on lotteries, Ja-

itley said, adding the group of ministers (GoM) willmeet again to discuss the proposal.

“A reduced effective rate of GST of 5%/1% is goodnews for the real estate industry as the 12%/8% ratewas bit of a deterrent for buyers while buying under-construction properties,” said EY tax partner Abhis-hek Jain.

Intermediate tax on transfer of development rights(TDR), joint development agreement (JDA), lease(premium), floor space index (FSI) will be exemptfrom GST for such residential property on which GSTis payable.

The government said this will address the cash flowproblems faced by the industry.

“There are reports of slowdown in the sector andlow offtake of under-construction houses which ne-eds to be addressed,” the statement said.

It would also result in the cost of houses comingdown, the government said.

“Unutilised ITC (input tax credit), which used to be-come cost at the end of the project, gets removed andshould lead to better pricing. Tax structure and taxcompliance becomes simpler for builders,” it said inthe statement.

“Developers will need to increase the base price torecover the loss of input credit but would need to becautious given the surge in anti-profiteering investi-gations for restaurants, in similar circumstances,”said Pratik Jain, partner and leader, indirect tax,PwC.

The decision was based on recommendations of aministerial panel headed by Gujarat deputy chief mi-nister Nitin Patel.

GST Council Cuts RatesSharply to Make Roomfor Housing Growth

Our Bureau

New Delhi:The Goods and Services Tax (GST) Coun-cil approved a sharp reduction in the levy on homesunder construction and raised the threshold for affor-dable housing that will make more purchases eligiblefor concessional tax, offering substantial relief to bu-yers ahead of the elections.

Starting April 1, homes under construction will belevied 5% GST, against 12%. For affordable homes,GST will drop to 1% from 8%.

Homes up to Rs 45 lakh and with a carpet area of upto 60 sq metres in metros and 90 sq metres in non-met-ro cities will be counted in the affordable segment, ac-cording to the new twin definition cleared by the co-uncil, which is expected to give a big boost to lower-in-come housing. The earlier limit was a uniform carpetarea of up to 60 sq metres for a house in an approvedaffordable housing scheme. There will be no input taxcredit for GST paid on materials such as cement andsteel for the sector at these lower GST rates.

“In its 33rd meeting, the GST Council has accordedbig relief to real estate sector,” finance minister ArunJaitley tweeted. “This (rate cut) will give boost to hou-sing for all & fulfill aspirations of neo/middle clas-ses.” The government said in a statement that “thebuyer of house gets a fair price and affordable hou-

Under-construction homes to face 5%GST, against 12%; tax on affordablehouses drops to 1% from 8%

Low-margin RealmeFails to Click withOffline Retailers

Writankar.Mukherjee@timesgroup.com

Kolkata: Leading cellphone retail chains,including the largest one Reliance Retail,are thwarting the efforts of the fourth lar-gest and online-focused smartphone makerRealme to enter the brick-and-mortar tradeby refusing to sell their handsets due to lowtrade margins, two senior industry executi-ves said.

This is one of the first fallouts of the mar-gin war between big retail and the consumerelectronics industry in India, a phenomenontypically seen in the FMCG space, coming ata time when online-focused brands are try-ing to step into offline retail. Brands such asRealme have been selling through Flipkartand Amazon at lower margins due to lowercost of distribution, compared with offlinetrade.

The executives said even chains in the So-uth such as Sangeetha, Poorvika and Big Chave decided not to sell Realme due to lowmargins. Realme had entered into a pactwith Reliance for sale of their handsets thro-ugh 600-odd stores last November.

While an email sent to Reliance did not eli-cit any response till press-time on Sunday,Realme India CEO Madhav Seth confirmedthat the “collaboration with the Reliancegroup has been called off” with the brand ha-ving expanded its footprint across the count-ry. He said the company works on low mar-gins to “offer real price of the products” toconsumers.

Seth said it has been mutually agreed uponwith some of the South chains that collabo-ration with Realme is not possible since itcannot offer high margins.

The executives said Realme offers one ofthe lowest trade margins at 4%, against5-6% by Xiaomi and 5-11% by Samsung, de-pending on models and stores. However,one retailer said it is still profitable to sellXiaomi and Samsung due to higher salesand faster turnaround of stock. Seth saidthat as a policy, Realme does not believe inmaking profit at the cost of customer.

“Working on restricted margins, Realmetries to give maximum benefit to its custo-mers and partners by planning innovativeand impactful marketing campaigns whichin return drive footfall at stores…We lookforward to partner with only those retailerswho share the same ideology and approach.”

Realme, which started operations last May,is part of China’s BBK Electronics that alsoowns brands such as Vivo, Oppo and One-Plus. As per Counterpoint Research, Realmeentered the top five smartphone brands listin October-December in the Indian marketwith more than four million users.

Only 30% Indians Trust Their Partners on Money MattersShipra.Singh

@timesgroup.com

New Delhi: If trust is the founda-tion of a stable relationship, Indianmarriages could be on shaky gro-und. Only three out of 10 peoplecompletely trust their partners onmoney matters, according to a sur-vey conducted by ET Wealth lastmonth. The online survey received550 responses from married or be-trothed individuals across age gro-ups.

Nearly 26% of the respondents al-so said their partner was secretiveabout financial matters, which ledto arguments over money. But itwas still at fourth place among thebiggest reasons for financial dis-cord in households. Topping thelist were overspending or being toofrugal, followed by financial sup-port to relatives and friends.

Overspending is seen as a villain

because it’s visible in the pile of un-necessary stuff lying around thehouse. However, experts say this isnot a problem if you save and investfor your goals.

“If you meet your commitments,there is no problem. Spending isnot a crime,” said Priya Sunder, di-rector, PeakAlpha Investment Ser-vices.

Budgeting can ensure that highexpenses don’t derail investments.“Overspending will not affect hou-sehold savings if you invest at thevery beginning of the month,” saidRenu Maheshwari, CEO and prin-cipal adviser, Finscholarz WealthManagers. “It will reduce liquidityand prevent overspending.”

Moreover, by quarreling aboutoverspending, most people may bebarking up the wrong tree. Few de-bate the investment choices of the-ir partners, which could have a big-ger bearing on the family’s finan-ces than anything else. Less than

23% have arguments on that count.Not clashing over investments isnot an indication of implicit trustin each other’s investment choices.Rather, it indicates a bigger pro-blem — couples fail to comprehendthe long-term outcome of their in-vestments. The survey furthershows that arguments over wronginvestment choices take place mo-re in the 45-55-year age bracket thanamong younger respondents.

This is the time when people are li-quidating investments for goalssuch a child’s education or wed-ding. But by then, it is already toolate for course correction.

If these investments were debatedwhen they were in their 30s, it wo-uld have been possible to get backon track. Few young couples dis-cuss and debate investment choi-ces. Either they don’t realise theurgency of goals that are far intothe future or have poor financialknowledge.

Pain PointsTop reasons for moneyarguments with life partner

Do you trust your partner’sintegrity in financial matters?(% of respondents)

(% of respondents)

OverspendingSaving too muchHelping relativesBeing secretiveInvestment choices

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For detailed story and more findingsof the survey, read today's

ET Wealth

CCI NG 3.7 Product: ETKolkataBS PubDate: 25-02-2019 Zone: KolkataCity Edition: 1 Page: ETKCPG5 User: akashpratim.m1 Time: 02-24-2019 23:27 Color: CMYK