90th Annual General Meeting of

 90^th Annual General Meeting of Federal Bank Conducted

Ninetieth Annual General Meeting of shareholders of Federal Bank was conducted over video conferencing today. The meeting was presided over by Bank’s Chairperson Ms. Grace Elizabeth Koshie and joined by other Directors, Shareholders, Senior Executives, representatives of Statutory Auditors and Secretarial Auditors of the Bank. 

Approval of shareholders was sought for adopting audited financial statements of FY 2020-21 and other resolutions like declaration of dividend of 35% to the shareholders, approval of issuance of equity shares on preferential basis and raising of Tier I Capital of the Bank through Issuance of Securities.  Approval was also sought for revision of tenure of M/s. Varma and Varma, one of the Joint Statutory Central Auditors, the appointment and fixation of remuneration of branch auditors in consultation with the Statutory Central Auditors, appointment of Ms. Varsha Purandare as an Independent Director of the Bank, re-appointment of Mr. Shyam Srinivasan as MD & CEO, Mr. Ashutosh Khajuria as Executive Director and Mr. A P Hota as an Independent Director and payment of Performance Linked Incentive to Ms. Shalini Warrier, Executive Director.  

 

 

While addressing shareholders, Ms. Grace Elizabeth Koshie remarked that the Bank led by its twin focus on Digital enablement and people empowerment, supported by operational strength, navigated unprecedented challenges during the year to deliver exceptional numbers.

 

In his speech, Mr. Shyam Srinivasan, MD & CEO said, “Simple, Digital, Contactless – this is what I had defined last year to be the cornerstones of our strategic focus for FY 2020-21, and a stepping stone in our journey to become the bank of FIRST CHOICE for Indians”. He added that the Bank’s digital innovations of today are on the cusp of redefining the banking paradigm of tomorrow.

 As a unique addition to the AGM proceedings this year, the Bank streamed the meeting live on 4 social media platforms - Facebook, YouTube, Twitter and Clubhouse.

104th Annual General Meeting of

104^th Annual General Meeting of GRSE

The 104^thAnnual General Meeting (AGM) of Garden Reach Shipbuilders & Engineers Limited (GRSE) was held on Friday 11 Sep 2020 through VC/OAVM. The Meeting was attended by Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director and other Directors, along with shareholders. 

The performance of GRSE, continued to be strong during the year 2019-20:

●      Revenue from Operations stood at Rs. 1433.30 Cr as compared Rs.1386.42 Cr, an increase of3.38 % over Previous Year

●      EBITDA stood at Rs. 255.30 Cr as compared to Rs.211.16 Cr, 20.90%, improvement over Previous Year

●      EBITDA (Margin) is 15.39% in current twelve months against 13.56% in the corresponding twelve months. Thus, registering an increase of 1.83%

●      PBT stood at Rs. 223.87 Cr as compared to Rs.178.96 Cr, up by 25.10%, in comparison to twelve months of Previous Year

●      PAT stood at Rs.163.48 Cr, as compared to Rs.109.94 Cr, up by 48.70%, in comparison to same period of Previous Year

●      Profit After Tax (Margin) is 9.86% in current twelve months against 7.06% in the corresponding twelve months Thus, registered increase of 2.80%

●      EPS stood at Rs.14.27 as compared to compared to Rs. 9.60 up by Rs.4.67 per share, in comparison to same period of Previous Year

The Board of Directors of the Company has recommended a final dividend of Rs. 1.40/- per equity share of face value of Rs.10/- each for the financial year 2019-20. This is in addition to the interim dividend of Rs.5.74/- per equity share of face value of Rs. 10/- each which was paid on 30 Mar 2020. The total Dividend declared for the Financial Year 2019-20 is Rs.7.14/- per equity share of face value of Rs.10/- each. The order book position of the Company as on 31 Mar 2020 stood at Rs. 26,544 Cr with shipbuilding projects related Order Book Value of Rs. 26,281 Cr. During the Reported Period the company delivered 04 Warships, 02 for Indian Navy and 02 for Indian Coast Guard.  This makes total warship delivered numbers as104 till end of 31st March 2020.

Strengthening India’s Defence preparedness has been GRSE’s core objective, focused on its core verticals of Shipbuilding, Engineering & Engine Production. The Company delivered the 105^th warship, FPV, ICGS Kanaklata Barua, to the Indian Coast Guard on 09 Jun 2020, being the only shipyard in the country to have delivered 105 warships. With continuous focus on modernization of infrastructure, GRSE has taken a strategic step to augment existing shipbuilding capacity. A state of the art underwater CNC Plasma Cutting Machine & a new Hull Block Fabrication Facility was inaugurated by Hon’ble Raksha Mantri, Shri Rajnath Singh at the RBD Unit of GRSE during AtmaNirbhar Bharat Week on 10 Aug 2020. GRSE’s diversification into Engineering has aided the land forces of the country and friendly foreign countries with the range of pre-fabricated steel bridges installed at high altitudes and for disaster relief. On 13 Aug 2020, Shri Rajnath Singh, Hon’ble Raksha Mantri, launched a “First of its Kind” Assault Bridge as part of the AtmaNirbhar Bharat Week Event.

Rear Admiral V K Saxena, IN (Retd.), Chairman & Managing Director, in his address highlighted GRSE’s healthy Order Book and expressed his confidence in Team GRSE to emerge strong amidst the uncertainties created by the global pandemic. CMD GRSE appreciated the hard work and dedication of all the employees in taking the Company on its path of success & thanked the Investors for their faith, commitment & confidence in the Shipyard. The unstinted support from the Ministry of Defence, Indian Navy, Indian Coast Guard, Central and State Government Authorities has helped GRSE achieve its goals, he said. New initiatives including implementation of Industry 4.0 robotics, AI, machine learning, with sparked innovations in automation,GRSE is poised for workload consolidation across Design, Production & Supply Chain Management in the future to strive ahead on a growth path.

YES BANK repays Rs. 50,000 crore to

YES BANK repays Rs. 50,000 crore to RBI, well before the due date: Chairman Sunil Mehta

The revival of Yes Bank marks the first successful reconstruction scheme led by banks in India’s banking history.

Following the backing of some of India’s largest financial institutions, Yes Bank has made considerable progress towards achieving the targets set by its new Board. The Bank is addressing all key issues and focusing on enhancing support for both its customers and stakeholders.

Addressing the Annual General Meeting, Yes Bank Chairman Sunil Mehta said: “Yes Bank’s successful completion of the Rs 15,000-crore follow-on public offering (FPO) truly demonstrates the strong confidence of institutional and retail investors in the Bank’s restructuring plan, action taken, future roadmap, and its professional management under the new leadership.”

Mehta believes that the upgrade of Yes Bank’s financial instruments by leading rating agencies is a testimony of the positive changes implemented in the Bank within a short timeframe.

Moody’s Investors Service (Moody’s) recently upgraded the Bank’s ratings to “stable outlook”. CRISIL revised its rating from A2 to A2+ for Certificate of Deposits and India Ratings revised its outlook from BB to BBB (stable for infrastructure bonds) and B+ BBB- (stable for Basel III Tier 2 Bonds issued by the Bank).

“We, at Yes Bank, are working on three pillars of sustainable growth – digitalisation, strong governance and risk framework, and sharing success with our stakeholders. These will lay the foundation of our transformation journey,” Mehta said.

As part of its plan to increase focus on Environmental, Social and Corporate Governance (ESG), Yes Bank is in the process of creating an institution that is trusted for its integrity and highest standards of governance and risk management.

“Looking ahead, FY 2020-21 will be a year of transition, as we battle the health and economic impact of COVID-19. I have immense faith in the team to restore our Bank to its rightful position among its leading domestic and global banking peers. Yes Bank is technologically contemporary and is constantly motivated to deliver value to all its stakeholders,” Mehta said.

The Yes Bank chairman expressed his gratitude to all the stakeholders for reposing trust in the Bank and said he felt a deep sense of pride to be a part of an institution that continued to show remarkable confidence towards delivering these positive outcomes. The achievements and the changes would not have been possible without the support of the Government of India, RBI, other regulators, investors, valued customers, members of the Board, and the over 21,000 highly enthusiastic and committed Yes Bank employees.

Highlights of 27th Annual General MeetingHighlights of 27th Annual General Meeting

Dollar Industries Limited hosts 27^thAnnual General Meeting

Chennai, 4^th September, 2020: Dollar Industries Limited (BSE: 541403; NSE : DOLLAR), one of the leading Garment & Hosiery Company in the country conducted its  27^th Annual General Meeting on 1^st September, 2020 through Video Conferencing due to the Covid-19 pandemic.

Highlights of 27th Annual General Meeting §  Declaration of dividend @ 85 % i.e. 1.70 per share (on FV Rs. 2 each) on equity shares for FY 2019-20. §  Adoption of Audited Financial Statements for the FY 2019-20 having consolidated revenue of Rs. 974.03 crores and PAT of 57.34 crores.

  

During the AGM, the shareholders approved all the resolutions including the adoption of Audited Financial Statements of the company for the FY 2019-20 and approval of final dividend of Rs. 1.70 per share. The cut-off date for final dividend payout was 25^th August, 2020.

While addressing the shareholders, Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Limited said, “The Covid-19 pandemic, has changed and disrupted life for everyone in this country, it is a tough situation where the organization is trying to strike the right balance between employee safety and efficiency. While the outlook is challenging and uncertain, we are determined to play our part to recover from the crisis.”

On the way forward, he added, “As the global economy is battling the adverse effects of the pandemic, companies and businesses all around are making brave business decisions every day. Now is the time that the businesses need to think out of the box as well as be adaptive. It is the need of the hour for companies to re-examine the traditional and conventional procedures and implement new appraisal processes and programs to sustain and scale their business”.

In May 2020, Dollar Industries Limited concluded its first ever digital launch with our brand ambassador Mr. Akshay Kumar. In order to simplify and consolidate its product offering, Dollar Industries Limited revamped its brand architecture and introduced a fresh vision ‘Wear The Change’.

Additionally, keeping in mind the health and safety of its consumers, Dollar Industries Limited will soon launch a unique range of products. Clubbed with new age technology and Dollar’s trusted products, the upcoming range will be soon available for consumers across the country on e-commerce as well as offline stores.

NIT-T Director takes over as the President of Shastri Indo-Canadian Institute

Prof.Mini Shaji Thomas, Director, NIT Tiruchirappalli has taken over 
as the PRESIDENT of the SHASTRI INDO-CANADIAN INSTITUTE (SICI) in the 
Annual General Meeting of SICI held on 20th June 2020. Dr Thomas was 
earlier elected as the Vice President 2019 in the last Indian Member 
Council Meeting held in April 2019 and took over  as the Vice 
President 2019 and President-Elect 2020 during the last AGM in June 
2019.Prof. John Kershaw from university of New Brunswick,  Canada, 
took over as the Vice President of SICI.

The initiatives of SICI support the creation of bi-national links between academia, government, the business community and civil society organisations in India and Canada by funding research and hosting 
seminars.The internship and fellowship programmes of the Institute provide opportunities for individuals to gain first-hand experience in India or Canada. In addition, our Library programme provides valuable 
resources to students and faculty at our Member Institutions.

The Shastri Indo-Canadian Institute was initiated in 1968 in Canada, by the Government of Canada in 1968, and became bi-national in 2005. It has the honour of being the only Institution which has One Hundred 
Fourteen (114) premier academic Institutions as its members in India (including IITs, IIMs, NITs, Law schools, Central and State Universities) and Forty two  (42) universities in Canada (including 
McGill, Queen’s and York Universities). The Institute’s scope has expanded as well to include law, management, arts, information science, environment, science and technology including biotechnology 
along with humanities and social sciences. The Shastri Institute is funded by and partners closely with government bodies both in India and Canada.

The aim is to further the bi-national ethos through different programmes facilitating scholarly research and exchanges between the Indian and Canadian Universities, Cultural organisations, Government 
Bodies and United Nations Millennium Development Goals.

It is an honour for NIT Tiruchirappalli to have its Director as the President of SICI.

Siddharth Roy Kapur unanimously re-elected as the President

Siddharth Roy Kapur unanimously re-elected as the President of the Producers Guild of India, at its 64th Annual General Meeting held on 28th September in Mumbai

Siddharth Roy Kapur has been re-elected as the President of the Producers Guild of India. He has previously served as the President since January 2017. It was a unanimous decision taken at the first meeting of newly appointed Guild Council on 28^th September 2018.

In addition, Sunjoy Waddhwa the eminent television producer has also been elected as the Vice President of the Producers Guild of India. At the same time Priti Shahani and Fazila Allana have been nominated to the Guild Council of Management along with Milan Luthria and Akshaye Widhani who have been included in the Guild Council as Special Invitees.

Vijay Singh, Manish Goswami and Apoorva Mehta continues to be part of the Guild Management team as Vice Presidents in addition to Ashim Samanta who will also continue as the Treasurer.

As the President, Siddharth Roy Kapur has been the leading voice of the industry over the past two years. The Guild has recently signed key strategic alliances such as the one with United Kingdom’s Producers Alliance for Cinema and Television and has engaged with key industry and Government stakeholders successfully.

Kulmeet Makkar, the Chief Executive Officer of the Producers Guild of India stated that “Guild has emerged as the most recognised and respected forum for industry progress under the leadership of Siddharth Roy Kapur and we are moving towards becoming an all-encompassing producers’ body considering the growing importance of television and strong emergence of new media such as Netflix India who have recently joined Guild as its member”.

Siddharth Roy Kapur is an eminent Producer of several critically acclaimed and commercially successful films. He founded his own film and digital media production house Roy Kapur Films after a long and successful stint at Disney and UTV.  He was recently named as one of Variety Magazine’s Top 500 influential people in entertainment globally, amongst only 12 Indians to feature on this list.