16 ECONOMY & PUBLIC AFFAIRS MUMBAI I TUESDAY, 10 JULY 2018 Business Standard

German cars, American steakearly victims of trade warNITI Aayogwants states to adopt

zero-budget natural farmingsentatives from agricultureuniversities, institutes, farm-ers and practitioners.

Speaking on the occasion,minister of state for agricul-ture and farmers welfareGajendra Singh Shekhawatsaid, "We are seeing side-effects of chemicals and fer-tilisers used in crops."

ZBNF expert SubhashPalekar was also present atthe event. He said that thebasic concept of ZBNF, whichis different from organicfarming, is to ensure thatprofit from supplementarycrops is enough to cover thecost of production of themain crop.

He said an average domes-tic Indian cow is sufficient togenerate chemical-free farm-ing in 30 acres ofland by usinga concoction of cow dung andurine, among others.

AGENCIESNew Delhi, 9 July

NITI Aayog vice-chair-man Rajiv Kumar onMonday made a casefor promoting zero-budgetnatural farming (ZBNF) instates, saying it wouldhelp double farmers' incomeby 2022.

Aayog member RameshChand, who is an expert inagriculture, said that suchmethods could be scaled upnationally only after theyhave been scientificallyproven to be correct and thereis proper manual for these.Under ZBNF, neither fertilis-er nor pesticide is used andonly 10 per cent of water is tobe utilised for irrigation ascompared to traditional farm-ing techniques.

Rajiv Kumar said that

Around five million farmers are working on zero-budget farming in different states

"Around five millionfarmers are working on zero-budget farming in differentstates," he said, adding thatnot only does it have poten-tial for India but it can also

be put to global use.The NITI Aayog vice-

chairman was addressing apress conference after meet-ing principal secretaries(agriculture) of states, repre-

states can promote ZBNFunder the two farm sectorschemes - ParamparagatKrishi Vikas Yojana andRashtriya Krishi VikasYojana.

BLOOMBERG9July WHAT'S IN A TRADE GAP

Items that contribute the most to America'strade deficit with China Figures in IbnChina's retaliatory tariffs on US goods struck

just as one of its biggest meat importers wasrushing a shipment from California throughShanghai customs. Now Suzhou HuadongFoods Ltd is saddled with a stack ofun affordable American steak.

Only three containers of frozen produceincluding prime rib and pork loin camethrough before the new levy slapped as muchas 500,000 yuan ($75,000) on each of theremaining half-dozen crates, according toGong Peng, the importer's general manager."We have no choice. We have to eat the costs,"Gong said in an interview. "We are guaranteedto dramatically lower our purchases of meatfrom American ranchers."

Triggering what China calls "the largest tradewar in economic history," the US on July 6imposed a 25 per cent duty on $34 billion ofChinese imports. Beijing immediately respond-ed with tariffs on USsoybeans, meat and vehicles.Suzhou Huadong, which supplies supermarketssuch asWalmart's Sam's Club in China, is just oneofthe early victims. For automobiles and whiskeymakers to companies along the complex globalsupply chain that defmes modern manufactur-ing, it is a moment of reckoning as they grapplewith higher costs and whiplashes from some ofthe earlier business decisions.

The ability of tariff-hit companies to weatherthe conflict may partly depend on the amount ofstock they managed to import before higherlevies kicked in. But once those supplies rundown, they'll have to absorb the tariffs or passthem on to customers.

Take Ford Motor and Tesla; both automakersarmounced price cuts in China only weeks ago,making their Lincoln and Model S sedans with-in the reach ofmore consumers after China low-ered tariffs on all foreign vehicle imports to 15percent. Starting July 6, those same models - ifthey are made in the US - are subject to a 40 percent levy. Tesla raised prices for its Model S andModel X by 150,000 yuan to 250,000 yuan afterthe additional tariffs, according to a sales repre-sentative. That would take the retail price of a

134.9,==:-196.7131.6_25.3.14.3114.11

ElectronicsMachineryFurnitureToys, sports eq uipmentApparelFootwear

Report: 9th citygasdistributionbidding mayfetch f700 bn

Agriculture scientists don't wantbureaucrat as job panel head Note: Figures represent imports from China minus exports to

China,2017 Source: USCommerce Department

In a letter to the PM,they sayappointing abureaucrat will lead to regular interferencein the processoftalent search

The ninth round of the citygas distribution (CGD) licen-ces auction, beginning thisweek, may see funds worth~700 billion from winningbidders, which is four timesthe cumulative tl50-180 bil-lion invested till fiscal year2018, said a report. "The ninthround of auction of city gasdistribution licences is set toalter the industry landscapewith the government expect-ing investments of VOO bil-lion from winning bidders, orfour times more than whatwas invested so far,"Crisilsaidon Monday. On offer are 86geographical areas in 174dis-tricts covering 29 per cent ofthe population, comparedwith a cumulative 56 geo-graphical areas awarded in theprevious eight rounds in thepast 10 years. The new geo-graphical areas on offer incl-ude Chennai, Coimbatore,Visakhapatnam, Aurangabadand Bhopal, which have gooddemand potential.

"We expect the ninth rou-nd to receive way better res-ponse because of revised bid-ding norms, and the pushfrom Centre through favou-rable policies," Crisil said, andpointed out the new normslikemarketing exclusivity peri-od of eight years which isextendable by two more years,compared with years earlier,tariff floors to discourage unvi-able bids, removal of addi-tional bid bond requirementand evaluation of bids basedon higher infrastructure cre-ation as wirmable factors. PTI

Model Sto asmuch as 1.47million yuan. Ford saidit will refrain - at least for now - from raisingprices. The top-of-the-end Lincoln Navigatormodel costs 1.16million yuan.

BMW and Daimler also face higher costsbecause they import luxury models to Chinafrom their US assembly plants. BMWsays itwon'tbe able to absorb the higher levies completely andis calculating the necessary price increases. Dai-mler declined to comment beyond saying it aimsto offer competitive conditions to buyers.

President Donald Trump is eyeing tariffs onanother $16 billion of Chinese goods, and heindicated last week that the final total couldsurpass $500 billion. Trump's course of actiononly means more US companies will lose out inChina as the country opens up, the People'sDaily, the Communist Party's flagship newspa-per, said in a commentary on Monday. Thezero-sum mentality of US policymakers willnot only hit economic and trade cooperationbetween China and the US, but also brings fur-ther uncertainty to the world economy, it said.With neither side backing down, the prospect ofa tax on almost every China-made productentering the U.S. and reprisals by China meansmany more businesses could come in the crosshairs. "Businesses hate uncertainty," said JacobParker, vice president of China operations atthe US-China Business Council. "If you areuncertain, you don't invest; ifyou are uncertain,you don't hire. Companies don't know how bigthis may get, or how it will end."

ASRB also conducts anAll- India level Preliminaryexamination for recruitmentof Scientists every year in 55different disciplines of agri-cultural sciences.

The scientists claimedthat so far, ASRB has recruit-ed over 95,000 personnel indifferent categories and so farit has not lost a single caseagainst any of its recommen-dations' which speaks vol-umes of the transparency inits functioning.

ASRB has a chairman andtwo full-time membersappointed from among thescientific community.However, since the last fewyears, it is operating withouta full-time chairman and onemember.

"Since the last 45 years,never has a bureaucrat head-ed ASRB. So, we feel thatsomeone who doesn't knowscience and is not aware ofthe nuances of agriculturesciences should not beallowed to judge scientists,"Singh added.

He said the ICARGoverning Council and evena government appointedcommittee under former sec-retary of Directorate ofAgricultural Research(DARE), R S Paroda to reviewthe functioning of ASRBunder hasn't said anything

SANJEEB MUI(HERJEENew Delhi, 9 July

The country's top agriculturescientists have written toPrime Minister NarendraModi opposing any move toappoint a bureaucrat aschairman of the AgriculturalScientist Recruitment Board(ASRB).

In the letter written lastmonth, scientists under theNational Academy of Agricu-ltural Sciences (NAAS) saidthat any move to appoint abureaucrat instead of a careerscientist as head of the ASRBwill end its autonomy andlead to interference in talentsearch.

"It will be disastrous foragriculture sciences andimpact research," said PanjabSingh, President of NationalAcademy of AgriculturalSciences (NAAS) and chan-cellor of RLB CentralAgriculture University,Jhansi.

The ASRB is the mainbody for recruitment of agri-culture scientists in the coun-try.

Constituted in 1973, theASRB has been instrumentalin appointment of scientistsin all major agriculture insti-tutes and universities in thecountry and also to build acadre offarm scientists.

The scientists claimed that so far, ASRB has recruited over95,000 personnel in different categories and it has not lost asingle case against any of its recommendations, which speaksvolumes of the transparency in its functioning

about changing the compo-sition of the ASRB.

Instead, it asked forstrengthening the recruit-ment board so as to enableselection of high quality indi-viduals for agricultureresearch.

Noted scientist DeepakPental said that entire con-cept looks flawed, addinghow can someone even thinkof appointing a non-scientistto head a scientists' recruit-mentpanel.

He said a career bureau-crat, who even has a knowl-edge of science, won't be ableto do justice as agriculturalsciences is a specialised fieldof branches and sub-divi-sions like animal husbandry,among others.

"We want to appeal to thegovernment and the peopleto save agriculture sciences

in India because science isthe bedrock of the govern-ment's aim to double farm-ers income by 2022," RBSingh, former chairman ofthe ASRB said.

The government hasn'tresponded to the allegationsand did not confirm whetherthere is move to change thecomposition of the ASRB.

PTI added quotingunnamed sources that aCabinet proposal has beenmoved to widen the eligibilitycriteria for appointment ofChairman of the AgriculturalScientists Recruitment Board(ASRB) as part of the govern-ment plan to reform the Board.

According to the UnionAgriculture Ministry's pro-posal, both agri-scientistsand even lAS officers canapply for the post of ASRBchairman, they added.

Heavy rain disrupts life inMumbai; road, rail traffic hitPRESS TRUSTOF INDIAMumbai,9July

Heavy rain brought Mumbaiand its neighbouring areas to astandstill on Monday, flood-ing streets and badly affectinglife, with nearly 90 trains onthe suburban network beingcancelled.

The rainfall caused trafficsnarls as many roads andstreets in the metropolis wereflooded and people were seenwading through knee-deepwater.

A 43-year-old woman rid-ing a motorcycle as a pillionwas crushed by a bus after thevehicle hit a water-logged pot-hole in adjoining Thane dis-trict of Maharashtra. Theshocking incident was cap-tured on CCTV cameras.

Due to water-logging,around 300 people were stuckin their homes in Vasai town ofthe adjoining Palghar district.

However, they refused tobe evacuated even as the waterlevel receded, a district infor-mation officer said.

The residents preferred tostay in their homes instead ofrelocating to some temporaryshelter in response to the dis-trict administration's appealfor evacuation, he said.

Some of them acceptedfood packets given by theadministration, he said.

"We have kept an ambu-lance near their homes as aprecautionary measure," theofficer said.

The downpour of 170 mm(recorded in Colaba observa-tory for the Mumbai city) from8.30 am on Sunday morningtill 8.30 am on Monday wasthe highest in a24- hour periodduring the current monsoonseason, the MeteorologicalDepartment's Deputy DirectorGeneral, K S Hosalikar, said.

From 8.30 am to 5.30 pmon Monday, the Colabaobser-

Icra pegs f85 trillionsubsidy for discornsRatingagencylcra hasestim-ated a subsidy dependence off85 trillion amid lowtariffhikes allowed for discoms in2018-19,and expects impro-vement in thermal plantscapacity utilisation or PLFinnearto medium term. PTI

Decline in Indian power plantcoal imports signals distress

Authority, a unit of the powerministry. Higher coal pricesand a weaker rupee forcedthem to cut generation. At thesame time, plants that usedomestic coal saw a 35 percentspurt in imports as they triedto bridge a shortfall in domes-tic supply.

A court order last yearbarred some Indian powerplants that use imported coaland have fixed-tariff contractsfrom passing on an increase infuel costs to customers. AdaniPower Ltd.'s 4.6 gigawatt plantat Mundra in Gujarat, whichruns mostly on imported coal,

RAJESH I

12

fcr-licp : 07.07.2018~ : ~"i(JID1f

PUBLIC ANNOUNCEMENT PURSUANTTO PROVISIONS OF CLAUSES (iv), (v), (vi)AND (ix) OF ANNEXURE A TO SEBI CIRCULAR NO. SEBV HO/MRD/DSAlCIFVPI

2016/110 DATED OCTOBER 10 2016SHUKLAMBER EXPORTS LIMITED

Address: 24, Ashoka Chambers, 5·B, Rajindra Park, Pusa Road,New Delhi· 110060, Phone: Tel. 011·45012880, Email: selcorp@yahoo.com

This Exit Offer Public Announcement ("Exit Offer PA") is being issued by SMC CreditsLtd (hereinafter referred as "Offering Promoter/Acquirer")is the promoter ofShuklamber Exports Limited("SEL" or the "Company" or the "ELC") to provide exitopportunity to the Public Shareholders of SEL in terms of the Exit Circular.

SEL was listed on the Delhi Stock Exchange Limited, which have been de·recognizedby the Securities and Exchange Board of India ("SEBI"). Consequently, the said companySEL has been moved to the Dissemination Board ("DB") of the Bombay Stock Exchange("BSE LTD."). Shuklamber Exports Limited was established in 1984. It is engaged inthe business of Non·Banking Financial Activities.Financial and Other Information of SELQ Name of the Company: Shuklamber Exports Limited

(CIN:UI801 ODL1984PLC019519)ii) Registered Office: 24, Ashoka Chambers, 5·B, Rajindra Park, Pusa Road,

New Delhi·ll 0 060.iii) Share holding: As on March 31, 2018, the paid up equity share capital of SEL was

Rs. 29450000 represented by 2945000 fully paid up equity shares of Rs. 101· each.Out of the total 2945000 equity shares issued by SEL, 917700 equity shares(31.16%) are held by the Offering Promoter. Further Mis Focal Leasing and CreditsLimited holds 390200 equity shares (13.25%), Mis Nap Investment & Leasing Pvt.Ltd. holds 294500 equity shares (10.00%) and SMC Credits Ltd holds 233000 equityshares (7.91 %) are the promoters of SEL. Further 2027300 equity shares (68.84%)are held by public shareholders. As on March 31, 2018, SEL had 1149 shareholderfolios.

iv) Summary Financials: As per its audited financial statements for the last threeyears, SEL's Net Worth and Net ProfiV(Loss) after tax was as follows:

(In Rs.)

Particulars 31.03.2018 31.03.2017 31.03.2016(Un Audited) (Audited) (Audited)

Rs. Rs. Rs.

Paid up equity share capital 29450000.00 29450000.00 29450000.00

Net worth 378272910.00 366095474.00 355118229.00

Net Profit/(loss) After Tax 12177436.00 10977245.00 11034292.00

The SEBI vide its Circular No. SEBI/HO/MRD/DSA/CIR/P/2016/11 0 dated October 10,2016 ("SEBI Circular"), has stipulated the procedure and process for exit of ExclusivelyListed Companies ("ELC") from the DB. As provided in Clause (i) of Annexure A of theSEBI Circular, Mis Shuklamber Exports Limited has appointed, on Junel8, 2018,3Dimension Capital Services Limited, a Category I Merchant Banker asIndependent Valuer from BSE's panel of Independent Valuer. The Independent Valuer,after taking into consideration the applicable valuation methodologies, has issued itsValuation Report dated June 27, 2018 and has determined the fair value of an equityshare of SEL as Rs. 69.74 (Rupees Sixty Nine and Seventy Four paisa Only) per equityshare.In the view of the above, the Offering Promoter has decided to give exit offer to thepublic shareholders of SEL at price of Rs. 69.74 (Rupees Sixty Nine and Seventy Fourpaise Only) per equity share (equivalent to the fair value per Equity Share as determinedby the Independent Valuer) ["Offer price"].Further, SEBI vide its Letter MRD/OW/DSA/2017/17463/1 dated July 25, 2017communicated to the BSE Ltd. and National Stock Exchange of India Limited ("NSE")[SEBI Letter], inter·alia permitted that public shareholders/investors who are willing toremain as shareholders of the Company and do not want to exit may be allowed to doso and the Designated Stock Exchange (in the present case BSE) may obtained anundertaking from the investors who do not want an exit; consequently the exit obligationof the Promoter will be reduced accordingly.In terms of the above mentioned SEBI Letter, Public Shareholders who are willing toremain as shareholders of Shuklamber Exports Limited and do not want an exit shallsend us undertaking to this effect (in the format available at the website of BSE,www.bseindia.com under the link https:llwww.bseindia.comiinvestors/exercisingoption.aspx?expandable=6) either by Registered PosVSpeed PosVcourier at their ownrisk or by hand delivery, within 15 Days of publication of this Exit Offer PA i.e on orbefore the closure of business hours on Wednesday, July 24, 2018 to the address ofregistered office of the Company, as mentioned below:

Shuklamber Exports Limited24, Ashoka Chambers, 5·B, Rajindra Park, Pusa Road, New Delhi ·110060

Post the expiry of above mentioned 15 Days period, the Offering Promoter will initiatethe process of the Exit Offer to those public shareholders who have not opted to continueas shareholders of SEL ("Remaining Public Shareholders"). Offering Promoterundertakes that Offer Letter containing the relevant details relating to Exit Offer includingdates of Opening and Closing of Exit Offer, Offer Price, documents required to besubmitted for participating in Exit Offer shall be sent to remaining Public Shareholdersfor participating in the Exit Offer.In accordance with the Exit Circular read with the Circulars/Notices issued by BSELimited ("BSE Guidelines"), Offering Promoter will open an Escrow Account withScheduled Commercial Bank and deposit an amount equivalent to/more than the 100%of the Total Consideration (Offer Price'Remaining Public Shareholders) payable underthe Exit Offer at least one day before the dispatch of Exit Offer Letter.

This Exit Offer PA is expected to be available at the website of BSE atwww.bseindia.com and at the website of Independent Valuer at www.3dcsl.com.

For SMC Credits Ltd(Offering Promoter)

SdI·Prasahesh Arya

(Director)DIN: 00006507

Place: New DelhiDate : July 9, 2018

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'1.''1 I•Corporate office: FC·19,Sector·16A, Noida·201 301 (U.P)Regd. Office: 18th Floor, AWing, Marathon Futurex, N M Joshi Marg, Lower Parel, Mumbai - 400 013, MaharashtraCIN: L51909MH1988PLC287553,Tel.: 0120· 2467005/2467000, Fax: 0120·4357078

E·mail: investorfildishtv.in, Website: www.dishtv.inExtract of statement of standalone and consolidated financial results for the quarter ended 30 June 2018 (Rs, In Lacs)

Particulars Standalone financial results Consolidated financial results

Quarter·ended Year ended Quarter·ended Year ended

30.06.2018 31.03.2018 30.06.2017 31.03.2018 30.06.2018 31.03.2018 30.06.2017 31.03.2018

1. Total income from continuing operations 101,317 97,161 44,118 186,160 165,563 153,137 73,888 463.416

1. Net Profit / (Loss)for the periodfrom continuing operations (beforeTax,Exceptionaland/or Extraordinaryitems] 1,181 (5,517) (809) (14,193) 3,415 (6,669) (3,017) (9,791)

3. Net Profit / (Loss)for the periodfrom continuing operations beforetax (after Exceptionaland/or Extraordinaryitems) 1,181 (5,517) (809) (14,193) 3,415 (6,669) (3,017) (9,791)

4. Net Profit / (Loss)for the periodfrom continuing operationsafter tax (after Exceptionaland/or Extraordinaryitems) 1,149 (18,795) (1,417] (5,111) 1,548 11,811 (1,394) (8,490)

5. Net Profit / (Loss)for the periodfrom discontinuedoperationsafter tax (1,6771 8,546

6. Net Profit / (Loss)for the periodafter tax (after Exceptionaland/or Extraordinaryitems) 1,149 (11,471) (1,417) 3,334 1,548 11,811 (1,394) (8,490)

7. Total comprehensiveincomefor the period [comprising profit! (loss) for the period (after tax) and other comprehensiveincome (after tax)] 1,149 (11,391) (1,417] 3,415 1,951 11,986 (1,351) (8,133)

8. EquityShareCapital 18.413 18,413 10,660 18.413 18.413 18,413 10,660 18,413

9. Reserves(excluding revaluation reserves,if any) 653,864 655,531

10. Basicand diluted earnings per share (for continuing anddiscontinued operations)of Re.1 each (not annualised) lin Rs.J 0.11 (1.91] (0.13) 0.31 0.14 1.08 (0.13) (0.69]

Theaboveinformation is an extract of the detailed format of financial results filed by the companywith the stock exchangesunder regulation 33 of the SEBI(Listing obligations and DisclosureRequirements)Regulations,1015.Thefull format of the abovefinancial results are available on the Stock Exchangewebsites,(WMV.bseindia.comandWMV.nseindia.com)andalso on Company'swebsite at WMV.dishtv.in.

Forand on behalf of the Boardof DirectorsDISHTV INDIA LIMITED

Jawahar Lal GoelPlace: Noida Chairman and Managing DirectorDated: 9 July 2018 DIN: 00076462

eJall 022 24978470 I SlVlS reachbs to 56677e-rn..ail u.s at: orderbsrn..ail_in.

mailto:selcorp@yahoo.comhttp://www.bseindia.comhttp://https:llwww.bseindia.comiinvestors/exercisinghttp://www.bseindia.comhttp://www.3dcsl.com.mailto:rp.dhrovvindia@gmail.com,mailto:pujabahry@yahoo.commailto:rp.dhrovvindia@gmail.com,mailto:pujabahry@yahoo.commailto:rp.dhrovvindia@gmail.comormailto:pujabahry@yahoo.commailto:pujabahry@yahoo.commailto:rp.dhrovvindia@gmail.com,mailto:pujabahry@yahoo.com,mailto:rp.dhrovvindia@gmail.com,mailto:pujabahry@yahoo.commailto::rp.dhrowindia@gmail.com,mailto:pujabahry@yahoo.commailto:investors@kajariaceramics.com,http://www.kajariaceramics.comhttp://www.kajariaceramics.comhttp://www.bseindia.com.http://www.dishtv.in

Page 1Titles16 ECONOMY & PUBLIC AFFAIRS MUMBAI I TUESDAY, 10 JULY 2018 Business Standard 134.9,==:-1 WHAT'S IN A TRADE GAP Heavy rain disrupts life in German cars, American steak NOTICE Decline in Indian power plant ,~ WARREN TEA LIMITED NOTICE Agriculture scientists don't want NITI Aayogwants states to adopt Icra pegs f85 trillion

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