Documente Academic
Documente Profesional
Documente Cultură
9 February, 2018
Chairman’s Desk.................................................................................................................. 05
Articles
Consolidation of Sovereign Holding for Public Sector Enterprises.................. 07
(Sovereign Holding Fund)
by Dr. U. D. Choubey
Financial Communication and Investor Relations.................................................. 10
by Nagendraa Parakh
Industry - Academia CSR Collaboration Breaking down the silos.................... 13
to build a desirable ecosystem for all
by Prof. Anurag Rathore
CSR: Opportunity to Create Shareholder Value and Challenges....................... 16
by A. K. Bhattacharyya
Women Empowerment and Health - Need of the Hour...................................... 21
by Dr. H. K. Chopra
Economic Survey 2017-18: Economy Back On Growth........................................ 24
Path but Roadblocks Persist
by Sheela Sharma
SCOPE News
Seminar on Emerging Paradigms in Financial......................................................... 27
Communication & Investor Relations
11th Symposium on RTI Act 2005: Transparency builds........................................ 31
Brand Images of PSEs
SCOPE Organizes Training Program on “Companies............................................. 34
Act 2013”
Program on Implications of Union Budget 2018.................................................... 35
Union Budget 2018-19 Public Sector entrusted..................................................... 36
greater role : SCOPE
SCOPE Gandhian Forum Organizes Lecture on Gandhian.................................. 36
Ideology on Corporate Governance
PSE News
PSEs Ink MoU....................................................................................................................... 43
Awards & Accolades to PSEs........................................................................................... 47
Secretary, DHI visits HEC.................................................................................................. 51
PSEs CSR Initiatives............................................................................................................ 53
SCI takes a leap in gender diversity- Women Directors constitute.................. 55
Contents
1/4th of SCI Board
PSEs Celebrate 69th Republic Day................................................................................. 57
IndianOil adopts 2018 as ‘Year of Trust’...................................................................... 63
AAI Signs Historic Agreement with Lao PDR in the field of................................ 65
Civil Aviation Co-operation
Raksha Mantri visits BEL................................................................................................... 67
PFC Sanctions Financial Assistance of Rs. 1350.69 Cr.
to Bihar Grid Company Ltd. ........................................................................................... 67
GAIL commences construction work for the West Bengal stretch of.............. 68
Prime Minister Urja Ganga Pipeline Project
NRDC Opens Incubation Centre for Start-ups......................................................... 68
Handing over of Third Mark IV LCU CLASS Vessel “L53” To Indian Navy......... 69
LCH Makes Maiden Flight with Indigenous AFCS AFCS is Designed &........... 69
Developed for the First Time in the Country by HAL
Personalia.............................................................................................................................. 70
HI&PE Minister, Visits HEC................................................................................................ 71
Vol. 37 No. 9 February, 2018
A
s India is moving forward on the path
of development, it is a matter of pride
that public sector is continuously play-
ing greater role in nation building. The Union
Budget 2018-19 has rightly focused on boosting
agriculture, infrastructure, education, providing
universal health care and social protection, in a bid
to accelerate economic growth and make it more
inclusive. Increased investment in infrastructure,
airport development, and strengthening of railway
network, envisages crucial role of public sector in
the development process of the country.
This year’s budget has targeted to generate
Rs. 80,000 crore through disinvestment of govern-
ment equity in PSEs. This reflects increasing credi-
bility and greater confidence of public in PSEs share.
Recently, Secretary, Department of Investment and
Public Asset Management (DIPAM) while inaugu-
rating the SCOPE Seminar on Emerging Paradigms
in Financial Communication and Investor Relations
appreciated that CPSEs enjoy higher investor con-
fidence as CPSEs Index and Bharat 22 demonstrat-
ed have exhibited a good performance.
PSEs are playing a key role in helping government
to achieve desired socio economic objectives. At
the same time, they are going through soul search-
ing process of evaluating their strengths and weak-
nesses with an emphasis of creating parallel initia-
tives to overcome traditional barriers. SCOPE, on
its part, has been taking initiative which are aimed
at improving overall performance of PSEs which is
the need of the hour.
Recently enacted Companies (Amendment) Act
Consolidation
of Sovereign Holding
for Public Sector Enterprises (Sovereign
Holding Fund)
Dr. U. D. Choubey
DG, SCOPE
T
he year 1991 saw a para- by the Union Finance Minister for One of the key guiding prin-
digm shift in the Indian creation of an international oil ciples of the OECD guidelines is
corporate scenario where- conglomerate by consolidating that the State or the Government
in the Government announced existing oil PSEs so as to provide should be an active and an in-
its decision to dilute its share in better market opportunities, un- formed owner thereby ensuring
certain PSEs. Disinvestment was dertake larger projects and enable professional and effective gover-
deemed as a necessary evil in or- economies of scale. Following the nance of SOEs in a transparent
der to improve the performance Budget Speech, SBI announced and accountable manner. This
of the falling PSEs. With time, merger of its 5 subsidiaries within can be achieved by way of de-
stake sale of the Government also itself effective 1st April 2017 bring- veloping an ownership policy
saw dilution of interest in profit ing the intent of the government wherein the role and responsi-
making PSEs. Annually, disin- into action. After few months, an- bility of the owner i.e. the gov-
vestment target was announced nouncement of HPCL merging ernment shall be defined clearly
in the Union Budget and mid- with ONGC was made provid- and objectively. Exercise of own-
year it was generally scaled down ing affirmative step towards the ership rights within the ambit of
as the government was unable to objective in the Budget Speech. the defined policy would enable
meet its target. 2017 saw radical Further, as per recent news re- the Government or the state to
shift in the Government’s percep- ports, government is considering ensure non-interference in day-
expanding scope of consolidation to-day functioning of the SOEs
tion wherein new approaches of
of PSEs in various sectors includ- thereby enhancing autonomy of
disinvestment were introduced
ing defence, construction and the SOEs.
which not only indicated towards
consultancy. Proposal is under-
dilution of stake sale, strategic In addition to a well-defined
way to consolidate 18 consulting
sale and outright sale of some of firms operating in the PSE space ownership policy, it is essential
the PSEs but also conceptualized into a unified company so as to that the ownership rights are ex-
consolidated holding entity as a provide advisory services under ercised in the most effective and
part of governance structure. one roof like that of private con- professional manner through a
sulting firms. singular agency so as to avoid
Consolidation of PSEs any duplication of instructions
All of the above seems to move
and OECD Principles of which may result in creation of a
towards abiding by the OECD
Corporate Governance complex hierarchy thereby delay-
principle of corporate gover-
In past 10 months the govern- ing the process of decision mak-
nance. OECD issued Guidelines
ment has announced some key ing. The said agency (also known
on Corporate Governance for
decisions of creating consolidated as the Ownership Entity) acts as
SOEs in 2015 wherein guiding
giants in various sectors so as to the coordinating body and must
principles were laid down for
take advantage of economies of possess competencies to carry out
State Owned Enterprises (SOEs)
scale and greater market penetra- its role effectively.
and their States (i.e. the govern-
tion thereby creating a niche for ment) so as to maintain diligent Therefore, from the above it
oneself. The year started with an- levels of corporate governance is clear that internationally, it
nouncement in the Budget Speech standards. is a well-documented guiding
Hence, it is high time that steps Five/Six sector specific sub-hold- structure of PSEs and align the
are taken to not only converge ing companies will be the second hierarchy to international stan-
the existing heterogeneous struc- stage which entails responsibility dards so as to ensure best prac-
ture of conformance into one but for vision and strategy of related tices of corporate governance for
also to move towards a flatter PSEs. global competitiveness.
structure for PSEs by creating a The Apex Committee shall be the
Sovereign Holding Company so supreme body for all PSEs gener- Way forward
as to consolidate multiple syn- ally under the Prime Minster or at Centralising the ownership rights
ergic PSEs into a single sector least the Finance Ministry of the into a singular agency would not
thereby not only making the gov- country. The Sovereign Wealth only facilitate the PSEs in improv-
ernance simpler and measurable Fund under Apex Committee ing and professionalising their
but also take advantage of econo- shall invest in domestic avenues working but would also help the
mies of scale, greater negotiating as well as outside the country. Government in diluting the con-
powers, higher value of assets etc. The Apex Sovereign Holding flicting roles of both a regulator
No single model could suit but a Company should be the con- and an administrative ministry.
solidated agency formed by the This will also ensure better au-
selective mix considering the cul-
Government for the purpose tonomy to PSEs.
ture can be explored for Indian
of implementing its ownership
Sovereign Holding Company rights. Key role of the said apex Further, it would also help in
which in turn, shall also be cus- body may include coordinating providing measurable objectivity
todian of Sovereign Wealth Fund. between the government and the to the ownership of the govern-
A probable model for a Sovereign sub-holding companies so as to ment by ensuring that the tasks
Holding could be drafted as a ensure overall satisfactory per- outlined in the said ownership
three-tier structure and a com- formance of the PSEs. Disclosure policy are achieved efficiently
bination of centralised agency and transparency norms should thereby paving the path for PSEs
and coordinated agency model be defined at each level so as to to achieve financial success
wherein at the top is the Apex fix accountability and ensure sus- along with increasing their global
Sovereign Holding Company tainability through a converged presence and competitiveness.
functioning through a board system of checks and balances. This is high time when radical re-
comprising of experts, profes- The above model is only recom- form is done to structure the gov-
sionals, academicians, research- mendatory and a rough sketch ernance through a consolidated
ers, government, SCOPE etc. of how to simplify the governing Holding Company.
Financial
Communication and
Investor Relations
Nagendraa Parakh
Executive Director, SEBI
F
inancial Communication is market capitalization. The value information relating to the com-
important and enabler for of trading on the major exchang- pany should be disclosed to in-
better investor relations. es of India has also grown more vestor which is his right and not
For any company, listed or unlist- than four times in last 20 years. a favor to him by the company.
ed, stakeholder relations are very Cumulative FII/FPI investments It has been mandated that every
important. It not only forms the grew 100-fold over this period. listed company will file disclo-
perspective of the image of the Resources mobilized through sure of all material events and
company, but also in terms of the public and rights issues have in- quarterly results in a time bound
sustained growth of the company. creased by more than 50 times manner to Stock Exchanges and
The underlying link between the in the same period. Equity ori- stock exchanges would inform
company and the stakeholder is ented Assets Under Management the same to the market so that
the mutual TRUST. (AUM) of mutual funds have in- investor could take a well-in-
For a public limited company creased by over 30 times in just formed decision.
especially a listed company, 15 years and AUM of non-equity SEBI has initiated a host of re-
INVESTOR is an important stake- oriented assets of Mutual Funds forms to make it easier for in-
holder, rather a key stakeholder. have increased by over 15 times vestors as well as companies for
Investors repose their faith and during the same period. better compliance. The structure,
money in the company, with ex- In securities market in India, we design and contents of bid cum
pectation that their money will have moved long back from a application form and abridged
grow, and generate good returns “merit based regime” to a “dis- prospectus were revised to pro-
on their investment. Investor is closure based regime.” Therefore, vide material information to in-
the backbone of a listed com- disclosures both initial and con- vestors in a user-friendly manner.
pany. There may be millions of tinuous are important. There must Abridged prospectus has been
investors that a company may be full disclosure within the time reduced from 50-60 pages to just
have, but each and every inves- frame prescribed for continuous 10 pages with comprising on im-
tor is important because he is a disclosures under SEBI regula- portant disclosures. Applications
SHAREHOLDER. tions. Timely disclosures are very supported by Blocked Amount
An efficient, fair and vibrant se- important, especially those which (ASBA) facility has made invest-
curities market facilitates the are price sensitive in nature, need ment in IPOs easier for investors
channelization of both domestic to be disclosed in the manner there by taking away the com-
and international funds into in- prescribed in the law. It should plaints relating to refunds. This
vestment and capital formation be ensured that there is no asym- has also helped companies to
which translates into growth metry of information amongst the raise capital in a shorter time as
for the economy. The Indian various shareholders. Therefore, the post issue time line for list-
Securities Market has kept good adequate and timely communi- ing has been reduced form T+12
pace with the positive econom- cation of financial information is to T+6 days. SEBI is working to-
ic environment in the country. very investment. The disclosures wards further reducing this time-
India today features among help the investor to take an in- line. As a green initiative, listed
the top 10 markets in terms of formed investment decision. Key entities need to send only soft
investment decisions.
Capital markets are evolving at
a rapid pace. Regulations are
also evolving at an equal pace.
Therefore, strategies for financial
communication should also adapt
to these changes. Today, social
media is a dominant communica-
tion tool. Some are even suggest-
ing as to why social media should
not be used to make disclosure?
Therefore, the proper disclosure
needs to reach the concerned as
well. For effective communica-
tion, there must be clear process
and structures. It should be laid
out that which information is to
copies of full annual reports to In the broader focus, investor re- be disclosed, how to make such
shareholders. lations can include relations with disclosures, etc. The communica-
It is important to find an investor analysts and even media as they tion must be not only effective,
but it is equally important to keep mostly interpret and communi- but also must be compliant with
him happy and satisfied. Any of cate the financial information to regulatory requirements.
his grievances should be dealt various stake holders. Public sector companies have a
with alacrity and promptness. Another area, which is of im- bigger challenging role compared
Investor grievances handling is portance, is the conduct during to the private sector counterparts.
one of the important areas where the General Meetings of share- PSUs are covered under the Right
SEBI has enabled an electronic holders. The processes and pro- to Information Act. Therefore, it
platform called SEBI Complaints cedures adopted for general is better than what all informa-
Redress System (SCORES). This meetings should allow equitable tion can be provided under RTI
has made complaint filing by treatment to all shareholders. E- should be upfront published on
investor and redressal by com- voting facility has helped many its website.
panies more effective and effi- shareholders to participate in Besides, effective financial com-
cient. Investor can file complaint the general meetings and vote munication, it is necessary for a
online in SCORE and companies for or against the resolution. listed company to be transpar-
can also file Action Taken Report. The Listing Obligations and ent. Transparency is a key pillar
The investor as well as the com- Disclosure Requirements (LODR) of corporate governance. Better
pany both can keep track of the regulations of SEBI and other corporate governance standards
redressal actions. regulations have detailed men- followed by companies add value
The primary focus of investor re- tion about all these aspects. Thus, to their stakeholders.
lations should be to develop and healthy relationship with inves-
Financial Markets have increas-
sustain the trust of sharehold- tor is very important.
ingly integrated globally and are
ers. Again, when we are talking Coming back to financial com- getting more and more complex
about investors, there will be dif- munication, disclosures being with the emergence of new prod-
ferent types of investors, retail the Thought, communication is ucts, cutting edge technologies
investors, corporate investors, the Action involved in dissemi- and processes. In this scenario,
institutional investors, QSP etc. nation of the disclosures. Action regulators also need to upgrade
Therefore, different classes of and thought should go together. their skills as per the require-
investors may require different Effective financial communica- ments of their regulated space
treatment. However, it should be tion can lead to better investor so as to continue to be effective.
ensured that equitable treatment relations. Communications Regulators also need to have high
is given to all shareholders. All should not only be timely, quality information by engaging
shareholders in the same class of they should be adequate to en- with analysts to capture emerg-
a series should be treated equally. able investors to take informed ing market trends. Being fully
aware of these facts, SEBI contin- resorted to find at least approxi- committee before finalizing the
ues to engage with market experts mate answers to these questions. policy proposal.
through setting up of issue spe- SEBI for instance, has instituted Before putting any consultative
cific expert group; through wider various ways to communicate paper seeking public comments,
stakeholder consultations; and by with the stakeholders and find the SEBI Board is taken into confi-
effectively leveraging technology answers to the public policy ques- dence by way of justifying the ob-
solutions across its various areas tions raised above by instituting jective and need of the proposed
of operations. By doing so, SEBI following mechanism. policy contained in the consul-
strives to have a well-considered tation papers. The final policy
SEBI has put in place standing
and balanced approach in its en- proposal incorporating the pub-
committees of stakeholders to
deavors to meet the mandated lic comments and final views of
deliberate and take their feed-
objectives of regulating and de- expert committee to be taken up
back on various issues pertain-
veloping the Indian securities again before the board for delib-
ing to primary market, secondary
market and protecting the inter- eration and approval.
market, mutual funds, corporate
ests of investors in securities. It is
bond market, etc. This apart, After every board meeting, SEBI
no wonder that the Market Cap
when any issue can’t be covered publishes a press release on SEBI
to GDP ratio, which was around
under the mandate of the exist- website for larger dissemina-
40% in 1990 has moved to more
ing standing committees, specific tion of the decisions taken by
than 80% in 2017. World Bank’s
committees/working groups are the Board. Whenever, there are
“Doing Business Report” for the
also constituted to take the feed- major policy changes and there
year 2017 ranks India as 13th in
backs of expert stakeholders in is a need for more detail clari-
the area of “protecting minority
the relevant area. fication on the decision, SEBI
investors,” as compared to 41st
for the US, 53rd for Japan and Senior management along with conducts press conferences after
Germany and 63rd for Australia. the concerned departments of such decision for more effective
SEBI interacts at regular intervals, communication.
Good governance can be achieved
by relying on multiple tools. say two to three times a year, with All circulars, guidelines, regula-
Some of the questions that needs the representatives of various tory amendments, quasi-judicial
to be asked before implementing market participants in groups or orders, etc. issued by SEBI are
policies for good governance are: individually to take their feed- promptly put on the SEBI website
backs on the benefits and chal- for larger public consumption and
What is the goal? lenges of recent and their views to do away with miscommunica-
What are the desired policies? on future reforms. These dia- tion, whatsoever. Additionally, a
Are they implementable? logues help SEBI in both under- separate website is provided to
taking corrective course of action communicate with investors and
What are going to be the costs wherever required and to crystal- to educate and sensitize them.
and benefits? lize its further policy agenda. SEBI has adopted policy of ef-
Who is going to benefit and who fective communication with sta-
Once the board contour of a pro-
is going to suffer? keholder and maintained high
posed policy is identified with
Are there ways to balance stake- feedbacks from the expert com- level of transparency which has
holder’s interests? Even if not; mittees, the proposed policy acclaimed it as one of the ef-
how to take all stakeholders on changes are put into a consul- fective regulators in the world.
board? tation paper and uploaded on Therefore, effective financial
There is no exact way to always SEBI website soliciting com- communication would help in-
get objective answers to these ments feedbacks from the public vestor take informed decisions
larger questions. However, there and stakeholders at large within and good corporate governance
are some tools, most important- a specified period. Public com- and transparency in conduct by
ly the communication with the ments/feedbacks so received are company would win the TRUST
wider stakeholders, that can be discussed again at the expert of investor in long run.
Note: Edited text of the Keynote address delivered in the two day seminar on “Emerging Paradigms in Financial
Communication and Investors Relations” held on 15th – 16th January, 2018 in SCOPE convention centre.
Industry-Academia CSR
Collaboration
Breaking down the silos to build a
desirable ecosystem for all Prof. Anurag Rathore
Associate Dean
Corporate Relations
IIT, Delhi
I
ndia is endowed with knowl-
edge, science, creativity and
talent to become the top glob-
al innovator and solution provid-
er. However, despite the thriving
talent, our innovation system has
been performing at suboptimal
levels. We are the largest democ-
racy, blessed with wide-diversi-
ty, great opportunities and our
unique challenges. While we fru-
gally built ‘Mangalyaan’, stand
as the second-largest smartphone
market in the world, our stagger-
ing 732 million people are still
without basic sanitation, over 63
million people lack clean water
and our roads claim 17 deaths
every hour. As a nation we need
to blaze a more radical and trans- private limited or public limited, development projects etc.
formational path towards a better which either has a net worth of Rs
future for all. Industry-Academia The complete list is available
500 crore or a turnover of Rs 1,000 http://corporate law reporter.
partnerships is one such channel crore or net profit of Rs 5 crore, to com/companies_act/schedule-
that offers a great potential to fur- invest 2% of its average net profit 7-of-companies-act-2013-activi-
nish effective solutions our nation for the immediately preceding ties-which-may-me-included-by-
deserves and create an ecosystem three financial years on corporate companies-in-their-corporate-
to drive innovation from concept social responsibility activities. social-responsibility-policies/.
to the masses. The CSR activities should not be “Improvement” oriented solu-
Corporate Social Responsibility undertaken in the normal course tions are process driven while “in-
(CSR) is a strategic tool that pro- of business and must be with re- novation” provides creative solu-
vides a great platform to drive spect to any of the activities men- tions. For avantegarde solutions
prosperity of people, societies tioned in Schedule VII of the 2013 with least intensive pathways to
and companies through the chan- Act. The activities covered under addresssome of the unique chal-
nels of improvement and innova- CSR umbrella include socially lenges of our nation especially
tion.The Ministry of Corporate relevant areas like preventive rural masses, Innovation is the
Affairs, Government of India healthcare, promoting education, only channel. Corporates and
has mandated every company, agriculture, road safety, rural Academia working together to
B
usiness has four responsi- a good corporate citizen; contrib- which all other rest. Philanthropic
bilities: (i) Economic respo- ute resources to the community; responsibilities are placed at the
nsibilities (be profitable); Improve quality of life). Carroll’s top of the pyramid. Legal re-
(ii) Legal responsibilities (obey (1991)1 presented the pyramid sponsibilities are placed above
the law); (iii) Ethical responsibili- structure of corporate responsi- economic responsibilities and
ties (obligation to do what is right, bilities. At the base of the pyra- ethical responsibilities are placed
just and fair; avoid harm); and (iv) mid lie economic responsibili- above legal responsibilities. In his
Philanthropic responsibilities (be ties, which are the foundation on four-dimensional model, Carroll
1
Carroll A. B.. 1991. “The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational
Stakeholders.” Business Horizons(July/August): 39–48.
2
Schwartz, Mark S., and Archie B. Carroll. “Corporate social responsibility: A three-domain approach.” Business ethics
quarterly 13, no. 4 (2003): 503-530.
3
Report of the world commission on environment and development: our common future, World Council for Economic
Development, thttps://sustainabledevelopment.un.org/content/documents/5987our-common-future.pdf (extracted on
January 23, 2018)
4
Carroll, Archie B. “Corporate social responsibility: The centerpiece of competing and complementary frameworks.”
Organizational Dynamics 44, no. 2 (2015): 87-96.
5
Shared value is a management strategy in which companies find business opportunities in social problems.
6
Wang, Heli, Li Tong, Riki Takeuchi, and Gerard George. “Corporate social responsibility: An overview and new research
directions thematic issue on corporate social responsibility.” Academy of Management Journal 59, no. 2 (2016): 534-544.
7
Friedman, M. The social responsibility of business is to increase its profits. New York Times Magazine, 13 (1970.): 122-124.
8
Ioannou, Ioannis, and George Serafeim. “The impact of corporate social responsibility on investment recommendations.”
In Academy of Management Proceedings, vol. 2010, no. 1, pp. 1-6. Academy of Management, 2010.
9
Available at: http://ngobox.org/media/India-CSR-Outlook-Report-2017-NGOBOX.pdf, extracted on January 31, 2018
when the company is passing its October 17, 2017 edition pub-
through turbulence. Moreover, Companies face various lished a report on CSR spending
during difficult financial or un- in fiscal year 2017 by NSE 100
challenges in formulating
certain periods for employment companies. It reported that of
stability individual employees and implementing the 92 firms surveyed, 15 were
perceive CSR activities as waste CPSEs, whose CSR spending
of efforts and resources and em-
CSR policies. Although (Rs 1,996 crores) constituted 30
ployees participating in those metrics for measuring percent of the total spending (Rs
activities might get stigmatized. 6,810 crores) by those 92 firms.
During difficult period, it is a chal- the social impact of CSR
lenge for the management to hold efforts are evolving, it is Conclusion
the enthusiasm and momentum Whether companies have social
of CSR activities. Another chal- difficult to measure, track obligations is no longer an is-
lenge is selecting the right NGO, and optimise the impact sue for debate. The issues for
particularly on face of pressure debate are how to improve the
for engaging local NGOs, which of those efforts on the effectiveness of the CSR pro-
may not have the bandwidth or company. This poses the cess and assess the impact of the
right governance structure for same on the community and the
using the resources allocated to challenge in allocating company. The return to the com-
CSR projects and programmes pany on CSR investment cannot
resources to different be measured directly. However,
effectively.
These complex issues can be re- CSR projects and change in the perspective of
analysts, from negative to domi-
solved only with the involvement programmes optimally nant, reflects that companies,
of the top management, includ-
in order to ensure that which perform CSR activities ef-
ing the CEO. It is imperative that
ficiently are in a better position
the CSR Committee of the Board while social welfare to identify and manage risks, and
of Directors should perform ef-
consequently reduce uncertain-
fectively and address those objectives are met, the
ties in future cash flows.Further,
challenges. research shows that increase in
benefit to the company is
the efficiency in performing CSR
CSR in CPSEs maximised. activities enhances job attractive-
Public Sector Enterprises (PSEs) ness and customer satisfaction,
was conceptualised as an instru- which translates into higher eco-
ment for ‘socio-economic’ devel- nomic return on invested capital.
opment when private capital was is the time, when they should Companies invest shareholders’
scarce. Therefore, CSR is in the champion the CSR. Public enter- money in CSR, which is not phil-
DNA of PSEs. They have embed- prises Survey 2015-16, provided anthropic in nature. Therefore,
ded CSR in their business model. statistics on CSR has spend- the management should formu-
However, CSR in its new con- ing without detailed analysis. late CSR strategy and identify
struct excludes employee welfare Department of Public Enterprises projects and programmes taking
activities and positive externali- (DPE) should consider inclusion into account impact of CSR in-
ties arising from business process- of analysis of CSR activities and vestments on the company and
es and products. Therefore, PSEs investments by CPSEs to signal the community. A company that
have redefined their CSR strate- the importance of CSR and for manages CSR efficiently creates
gies. PSEs, in initial phase, played enforcing accountability. shareholder value while fulfilling
the role of model-employers. This Live Mint, a business daily, in social responsibilities.
ARTICLE
Women Empowerment
and Health -
Need of the Hour
Dr. H.K. Chopra*
W
omen are usually sen- with a reason. estimated 876 million adults
sitive and compassion- A women is more compassion- worldwide who cannot read or
ate because of their ate, a perfect manager, a prolific write, and girls make up 60 per-
hormonal and neurobiochemical value based leader, omnipotent cent of 77 million children not at-
makeup including high level of believer, highly emotional with tending primary school.
compassionate molecules such divinity, enjoy serving everyone
as oxytocin, oestrogen hormones, • Health issues of female foe-
including family and society.
serotonin Dopamine, DHEA, ticide, high prenatal mortality,
Everyone worships women in
Acetylcholine, and low levels of anemia, blindness, TB, malnu-
the form of Goddess of wealth
jittery molecules such as epineph- trition, sexual assault in child-
as “Lakshmi”, Goddess of
rine, norepinephrine, steroids hood, gender discrimination,
knowledge, music and art as “
and androgens etc. They have “Saraswati” and Goddess of pow- obesity, hypertension, diabetes,
higher levels of copper and lower er as “Durga” . Why should one CAD, Cancer including breast
levels of zinc, that is how they are abuse the women when she is so and cervix etc. Osteoporosis,
more sensitive than men. It is the divine. Men should have perfect Osteoarthritis, depression, Alzhe-
jittery, hostile and cynical envi- mind set to empower women and imer etc.
ronment at her home, work place, preserve her integrity and make
in society at a national and inter- • Gender differences pattern of
her strong. Time to reflect gender identities, attitudes, roles, rela-
national level which may create equality now.
high levels of stress in women de- tionships and resources.
pending on the situation and the Why do you need women • Economic, social and cultural
coping capability of a women. empowerment? attributes and opportunities in
A women is unique in her na- • Of the 1.3 billion people who women vs. men etc.
ture archetypally, alchemically, live in absolute poverty around
etymologically, mystically, mythi- One should respect the divine
the globe, 70 percent are women.
cally, biochemically, emotion- power (Shakti) while she is in
Poverty means rights denied, op-
ally, psychologically, atomically, the womb, care for her and not
portunities curtailed and voices
bozonically and even at the lev- subject her to any kind of abuse
silenced. including female foeticide by any
el of quantum soup. The word
women if analyzed represent W • Women work 2/3 of the world’s method while she is in the womb.
means wise, O means omnipo- working hours. There should not be any discrimi-
tent believer, M means merciful, • Women earn only 10 percent of nation between male and female
E means efficient and effective the world’s income child at home or in the school and
and N means noble that is what college and should not be sub-
women is. She is an embodiment • Women own less than 1 percent jected to any kind of abuse physi-
of love and compassion. She of the world’s property. cally, mentally, socially and psy-
genuinely becomes stressed only • Women make up 2/3 of the chologically which make them
President, World Wellness Foundation. Chairman, National CSI Affairs-2016-18. President, Indian Academic of
Echocardiography -2016-17. President, World Heart Academy. President Cardiological Society of India-2015.
more. Experiencing ecstasy by optimizing their lifestyle. With Job opportunities, appropriate
regular massage and health spa. appropriate diet, work schedule, positioning, education, cultural,
Avoiding toxic emotions, toxic regular exercise regimen, regular spiritual and economic develop-
consumption such as excess of relaxation techniques including ment should be programmed
alcohol and tobacco in any form. meditation and yoga can make with gender equality and wom-
them strong. Men should help to en empowerment to promote
Common roots of stress achieve this on daily basis. growth and development in our
in women country.
Some of the examples of my own
Even though anger is a primitive
patients, are as follows: Sir Albert Einstein
reflex and may be influenced by
our work environment . If you • A young female recently mar- once said
are working in a hostile environ- ried aged 34 years, working in a “We are not the packages of flesh and
ment without compassion then prestigious hotel in Delhi had re- bone with wisps of memory and de-
the women may frequently get peated arguments in anger with sire but we are web of information
stressed. Environmental stress her husband. As the consequenc- and energy interwoven with emo-
has tremendous influence on the tions and intelligence from the eye
es she had repeated episodes of
of the soul (consciousness) and not
growth and potential of women. palpitation, insomnia, restless- from the eye of the body or eye of the
Cynical and hostile environment ness and anxiety. The lesson is mind”. There are vedic expression
make them non productive and one should be calm and not emo- which says
environment with peace and har- tionally imbalanced to cope with
mony make them more produc- “Tranquility is truth, truth is
any kind of stress. beauty
tive. The stress coping capacity
of women can be enhanced by • A young female advocate at the Beauty is bliss and bliss is divine”
lifestyle optimization supported age of 36, smoker, takes alcohol Kindness in words, create
by men. occasionally and had fit of anger confidence
during argument in the court. She Kindness in thinking, creates
Women should learn to suffered a massive heart attack profoundness
manage stress in a effec- and was brought in emergency. Kindness in giving, creates love
tive way The lesson is have quite attitude Kindness in loving, create happi-
Anger in women is circumstan- ness and health.
of mind and not fall victim to ex-
tially based and not value based. cessive smoking, drinking and “Path of compassion & Love is
By nature women are more com- anger stress. This is possible by the path of enlightenment and
passionate. They need to be nur- regular meditation and yoga. empowerment”
tured with the emotion of love, Women empowerment and health
altruism, hope, selflessness, devo- The gender equality and women is possible with perfect mindset,
tion and dedication without eth- empowerment is the need of the perfect environment and perfect
noracism. All women can become hour which is possible by chang- attitude of gratitude. Time to act
very strong to cope with anger in ing our mindset by optimizing the for women care is now for the
a positive and productive way by lifestyle right from the childhood. world peace.
B
uoyed by major structural The Survey has identified three the bus for lowering interest rates’
reforms like Goods and critical areas of focus in the me- as both growth and inflation are
Services Tax (GST), Indian dium term, namely-Employment picking up.
Bankruptcy Code (IBC) and huge generation for burgeoning work-
In such a case, releasing banks
recapitalization of public sector force, revamping Education for
from their bad loans Non
banks along with export uplift creating educated and healthy
Performing Assets (NPAs) and
from global recovery, the Indian workforce and Agriculture for
companies from debts that can-
economy is back on the growth raising farm productivity while
not be serviced via IBC would
path. However, policy vigilance strengthening agricultural re-
hold the key in increasing invest-
against risks of persistent high silience. Simultaneously, it has
ment in the economy. This would
crude oil prices, sharp correction called for continuous improve-
imply recapitalization of banks
in stock market disrupting capital ment in two truly sustainable en-
and selling off the assets. It is here
flows in the short term and cli- gines of rapid economic growth –
that PSEs can play an important
mate change in the long term will private investment and exports to
role by bidding in asset auctions.
be necessary to maintain growth reach potential 8% GDP growth
momentum. in coming years. Among the major sectors, the
level of real agricultural GDP
The Economic Survey 2017-18 According to the Survey, the eco-
and real agriculture revenues in
has predicted 6.75% GDP growth nomic prospects appear bright
the last four years has remained
in the current year which will ac- and export boost along with in-
constant, owing in part to weak
celerate to 7 – 7.5% in 2018-19 as vestments would hold the key
monsoons in two of those years.
the country would recover from to growth revival. But, a sudden
Additionally, agriculture may
the twin shocks of demonetiza- correction in global stock mar-
see fall in income by upto 25%
tion and GST glitches and ben- ket coupled with rising oil prices
in the medium term due to cli-
efit from reforms to resolve long could disrupt India’s macro fi-
mate change hitting crop yields.
standing twin balance sheet (TBS) nancial stability. The Survey has
Agriculture accounts for 16% of
problem of overleveraged banks blamed high interest rates for
GDP and 49% of employment,
and companies, besides getting thwarting growth and bringing
making it crucial in the overall
an export surge from global eco- in excess capital inflows. Higher
economy. Acording to the Survey,
nomic boom. Higher growth and interest rates have also impact-
“Poor agricultural performance
better-than-expected GST rev- ed investment in the economy.
can lead to inflation, farmer dis-
enues notwithstanding, the econ- Gross Fixed Capital Formation
tress and unrest and larger socio-
omy is likely to see fiscal slippage (GFCF) as a proportion of
political disaffection – all of which
and miss the fiscal deficit target GDP is below 27% at present,
can hold back the economy”.
of 3.2% of GDP for 2017-18. This lower than not just the peak of
would, ideally, need fiscal con- 38% in 2007-08 but in any year The Survey has pointed out that
solidation next year, which may since 2004-05. According to the the impact of climate change on
be difficult to adhere in an elec- Chief Economic Adviser, Mr. agriculture has already become
tion year, putting more pressure Arvind Subramanian, the gov- visible. The government would
on economic health. ernment seems to have ‘missed need to address issue of rising
Mr. Neeraj Kumar Gupta, IAS Secretary, DIPAM delivering inaugural address at the seminar. Also seen on dais are
Dr. U. D. Choubey, DG SCOPE, Mr. Nagendraa Parakh, ED, SEBI, Prof. Jaishri Jethwaney, Programme Director and Mr. K. N.
Dhawan, Programme Coordinator.
Mr. M.K. Venu, Founding Editor, The WIRE News Agency delivered the Valedictory Address
in which Prof. Jethwaney summarized the two-day deliberations while Mr. Dhawan
welcomed the dignitaries and participants.
I
ed the entire trajectory of what
n his Inaugural Address, Mr. sending soft copies of their annu- comprised compulsory disclo-
Neeraj Kumar Gupta, IAS al reports and other information sures on the part of both listed
Secretary, DIPAM said that via the e-mail to their investors. and non-listed companies, be-
in spite of good work being done Mr. Parakh reiterated the need sides giving case studies to make
stakeholders in many cases did for better communication for an the participants understand the
not seem to be convinced on the empathetic investor relations concepts better. He further add-
reforms undertaken by the gov- management. ed that it was important to have
ernment. Communication, there- Dr. U.D. Choubey, DG, SCOPE “nothing to hide” policy to re-
fore, is an important tool for in his welcome address said main in constant confidence of
reaching out to various stakehold- that Financial Communication the investors and the financial
ers. Investor relations, he said, is an essential part of Investor regulators. Transparency, he said
have to be perennial in nature. Relations Management as it helps has to be seen as ‘Value’ and not
Transparency and effective cor- a company in achieving better ‘Compliance’ alone.
porate governance always went confidence of the investors. He
together. India, he shared, was Dr. Bhushan Kumar Sinha,
said that it was imperative for Economic Advisor, DIPAM pro-
ranked fourth by an international
any company to be more trans- vided a comprehensive look at
agency on protecting minority
parent and convey the facts to its Government’s investment man-
shareholders, a feat we all could
various stakeholders with hones- agement perspective on CPSEs.
feel proud of. Senior managers of
ty and integrity, which will help This was followed by the session
CPSEs he said needed to continu-
in establishing long lasting value by Dr. Jaishri Jethwaney who
ously tap the market sentiment by
for the company. He also empha- spoke on the consumer behaviour
interacting with market analysts.
sized on the need of addressing in the stock market .She provided
Mr. Neeraj Gupta also released
the opportunities thrown by the a narrative on brands vs, finan-
the special issue of ‘Kaleidoscope’
social media to connect with the
on Financial Communication & cial brands and the necessity of
audiences better.
Investor Relations. creating brand value for financial
Giving the program perspec- products and the need to segment
Delivering the Keynote address,
tive, Course Director, Dr. Jaishri the target audience as it is done
Mr. Nagendraa Parakh, ED, SEBI,
Jethwaney provided an overview for brands in the market place.
emphasized on the need for both
of the Conference both in terms She also added that organisation
listed and unlisted companies to
of content and the choice of the do not see women as important
share information. The Investors,
speakers and pedagogical tools. target segment for stock invest-
even if small in number, he said
Mr. K.N. Dhawan, Coordinator of ment, which was not only unfair
are partly the owners of the com-
the Program proposed a Vote of but also a bad strategy as today
pany in which they invest. As a
Green initiative, he suggested Thanks to the dignitaries. women have immense financial
companies to now shift to e-of- In the first session on ‘Tapping the power to contribute. She advised
fice and digitalization mode by Primary Market and Dynamics of that in this age of social media, it
her view was not ‘optional’ but a Investor Relations programme and educated on a continuous
‘compulsion’ as per the rules. She with them. basis. Earlier, Dr. Jethwaney,
also added that investors were The Chief Guest for the Valedi- Program Director recapitulated
always interested to know about ctroy session, Mr. M.K. Venu the various sessions for both the
future projection of the company; Founding Editor, The WIRE days. Mr. K.N. Dhawan, Program
hence care was taken to cater to shared the overall financial mar- coordinator, SCOPE thanked the
their needs from the Company’s ket scenario and said that PSEs dignitaries and participants. The
end. Mr. I.P. Singh, Company were generally reticent in com- program was attended by a large
Secretary, BHEL said that for a munication but at the same time number of Finance Directors,
successful IR, it was important commanded more credibility Company Secretaries and Senior
that all the internal departments with the investors, a trait he said Executives handling Investor
were fully integrated to provide a he appreciated. Sharing a few ex- Relations, Finance and Corporate
cohesive communication package amples, he reiterated the fact that Communication Departments.
to the investors. Despite BHEL Investors are becoming percep- Rural Electrification Corporation
being a B2B company, care was tive and active, so it is extremely Ltd. and Adfactors PR sponsored
taken in BHEL to follow a robust important to keep them informed the program.
Mr. Yashovardhan Azad, Information Commissioner, CIC delivering the inaugural address at the two-day RTI symposium.
Also seen on the dais are Dr. U.D. Choubey, DG, SCOPE, Mr. Aditya Swarup, State CIC, Jharkhand, Mr. O. P. Khorwal, Convener,
SCOPE RTI Steering Committee and Ms. Kamakashi Raman, ED (HRD), SAIL Ranchi.
S
COPE organized the 11th Dr. U.D. Choubey during the wel- the 10 least corrupt countries are
symposium on RTI Act come address said that RTI not more transparent and developed
2005, a two day program only improves the brand image of as they are following the RTI Act
on 18th & 19th December, 2017 at Public Sector Enterprises (PSEs) or Freedom of Information or
Ranchi particularly for the organi- in India but also internationally Freedom of Speech etc. Whereas,
zations of the Eastern Region. Dr. as it has brought more transpar- the top 10 most corrupt countries
U. D. Choubey, Director General, ency and accountability in the are among the least transparent
SCOPE delivered the welcome working of PSEs. and under developed ones. These
address. Mr. Yashovardhan Azad, Dr. Choubey also emphasized countries do not have any law
Information Commissioner (CI- that in view to bring transpar- related to transparency. He em-
C) was the Chief Guest and ency in the corporate, private sec- phasized that it reflects the fact
Mr. Aditya Swarup, State Chief tor and NGOs, these need to be that transparency is an important
Information Commissioner (SC- brought under the ambit of RTI, as factor in the overall development
IC), Jharkhand was the Guest huge amount of Public funds are of the country. Dr. Choubey men-
of Honour. Program Director invested in them. It is required as tioned that PSEs alone are con-
for this program was Mr. O. P. fair level playing between public tributing a turnover of approx. 11
Khorwal, Convener, RTI Steering and private sector to give open lakh crores which is roughly 14%-
Committee of SCOPE. Ms. and equal instrument for com- 15% of the GDP of India.
Kamakshi Raman, ED (HRD), petition. He mentioned that the Dr. U. D. Choubey also welcomed
SAIL proposed the Vote of importance of transparency is Mr. Yashovardhan Azad, CIC
Thanks. clearly evident from the fact that and Mr. Aditya Swarup, State
Group photograph of the delegates of the 11th Symposium on RTI with Chief guest and other dignitaries.
S
COPE organized a two
day training program
on “Companies Act 2013
& SEBI (LODR) Regulations
2015” on 29th-30th January 2018,
at SCOPE Convention Centre,
New Delhi in academic collabora-
tion with The Institute of Company
Secretaries of India (ICSI). Mr.
Ved Prakash, Chairman, SCOPE &
CMD, MMTC, Dr. U.D. Choubey,
Director General, SCOPE and Mr. Seen in the photograph are Mr. Ved Prakash, Chairman, SCOPE & CMD, MMTC
Makarand Lele, President, ICSI ad- (Centre), Dr. U.D. Choubey, DG, SCOPE (on left) and Mr. Makarand Lele, President, ICSI
dressed the participants in the in-
augural session of the program. program was largely attended by taken by Mr. Tej Bahadur, Regional
Company Secretaries and finance Labor Commissioner, Government
During the inaugural session, while
professionals of a number of mem- of India, and Mr. Gautam Kumar,
welcoming, Dr. U.D. Choubey, DG,
SCOPE said time has come to make ber CPSEs. The inaugural session Dy. Director ESIC. This was fol-
collective efforts by all stakeholders was followed by technical sessions. lowed by a session on compliances
including government, investors, Eminent faculty and practitioners and disclosures taken by CS A K
consumers, employees and soci- including those holding key posts Rastogi former Executive Director
ety at large to improve corporate in member CPSE’s took the techni- and Company Secretary, NTPC Ltd.
governance standards not only for cal sessions. CS Atul Mittal, Director Deloitte
the benefit of the company but Ltd. and CS Amit Gupta, Practicing
On the day one, the first technical
for the overall institutional health Company Secretary and member
session was taken by CS I. P. Singh,
of the country. Mr. Ved Prakash NIRC, ICSI took the following ses-
Company Secretary, and BHEL
Chairman, SCOPE & CMD, MMTC sions on recent developments and
spoke on the composition of the
said in the global and WTO arena secretarial audit standards.
Board, appointment of Directors,
our responsibility towards share-
holders have increased manifold. and role and responsibilities. The
The program concluded with a pan-
In these challenging times, PSEs next session was taken by CS GP
el discussion comprising of CS I. P.
have to play a bigger role to man- Madaan, Advocate, who spoke
Singh, BHEL, Comp-any Secretary,
age the enterprise. on the Board processes, practical
Bharat Heavy Electricals Ltd, CS
issues relating thereto, conven-
Mr. Makarand Lele, President, KP Gupta Executive Director and
ing and conducting the Board
Institute of Company Secretaries Company Secretary and CS Divya
Meetings.
of India highlighted the intricacies Tandon, Company Secretary from
involved in the various changes The second day started with a ses- POW-ERGRID Corporation of
and modification in the Companies sion ‘Unified online annual returns India Limited., which witnessed
(Amendment) Act, 2017. The under eight labor laws’ and was
raising and sharing of views on a
host of related issues.
S
COPE Gandhian Forum for
Ethical Corporate Gove-
rnance in association with
SAIL organized a Lecture on
“Gandhian Ideology on Corporate
Governance” coinciding with
Martyrs’ Day on 31st January 2018
at SCOPE Convention Centre.
The SCOPE Gandhian Forum for
Ethical Corporate Governance
has been formed to inculcate
the principles of Gandhi ji’s
teaching in the working of Public
Sector Enterprises. (L to R) Dr. U.D. Choubey, DG, SCOPE, Ms. Shobhana Radhakrishna, eminent
The program began with all the Gandhian and Mr. M.C. Agarwal, ED (CA), SAIL.
dignitaries paying floral tribute
to Father of the Nation, Mahatma non-violence, simplicity, integrity forward her years of experience
Gandhi at the SCOPE Convention and honesty. His ideology and as a Gandhian and follower of his
Centre, New Delhi. Before starting principles will remain relevant teaching, in her lecture explained
the lecture session a two minute corporate governance in time to how Gandhiji advised business-
silence was observed to pay re- come. He added that it was the men to carry out business, yet
spects to Gandhiji. In his Opening principles of Gandhiji that set him honestly and truthfully. She high-
Address, Dr. U.D. Choubey, apart from other leaders and he lighted that Gandhiji’s definition
Director General, SCOPE said will remain an epitome of a true of truth was unity in mind, words
Mahatma Gandhi has been the leader for generations to come. and deeds. Ms. Radhakrishna
greatest leader of our generation Smt. Shobhana Radhakrishna, also emphasised the fact that
who has taught us the path of Eminent Gandhian bringing the Father of Nation’s view on
Governance was more relevant in
today’s work environment than
ever before and it can serve as a
great learning experience for or-
ganisations. The ‘Sarva Dharma
Prarthna’ was played at the end of
the session.
Auditorium
The chamber having capacity of 92 persons (86
Nos. Chairs + 6 Nos. Chairs on Dias) equipped with
mikes on dias, tables & podium.
Bhabha Chamber
Fazal Chamber
Tagore Chamber
The Business Centre having capacity of 7 persons The Annexe-II having capacity of 25 Persons.
equipped with multi point Video Conferencing
System (1+3), at three locations at a time for National Tansen Chamber at UB
& International both.
Banquet Hall
Annexe I
A large sized Convention hall having sitting capac- Meeting hall having “U” shaped table, with a meet-
ity of 300 delegates. Various seminars, training pro- ing capacity of 65 delegates.Most widely used for
grammes, presentations, get to gather etc. are con- small size meetings and training programmes,
ducted in Convention Hall. It provides ambient and group discussion, power point presentations etc.
peaceful environment for the programmes.
SCOPE Academy of Public Sector
VIP Lounge Enterprises
VIP Lounge having sitting capacity of 60 delegates. SCOPE Academy of Public Sector Enterprises
The executives and higher level officers, Directors, (APSE) conducts induction level programmes for
CMDs can use it as waiting lounge also. PSEs executives. It has three training halls, one
with capacity of 40 persons and two halls with ca-
pacity of 30 persons each for training purpose.
There is a wide space for vehicle parking that cater for a capacity of 700 cars, including the newly built good quality Banquet
Hall wherein 300 delegates can comfortably dine at a time, makes it special to deliver an all-round conducive meeting
environment .
SCOPE had set up an Arbitration Cell known as of Supreme Court, High Court, retired Secretaries,
SCOPE Fourm of Conciliation and Arbitration Joint Secretaries of Govt. of India , Chief Executives,
a(SFCA) mainly to settle disputes between PSUs Directors and senior officials of Govt. of India
and its associates . This was inaugurated on 9th and PSEs, besides Advocates and C.As and other
January, 2004 by Shri Santosh Gangwar, the then professionals.
Hon’ble Minister of State for Heavy Industries,
Public Enterprises and Parliamentary Affairs, The Forum has its own infrastructure with a spa-
which was attended by the then Secretary, Ministry cious Arbitration Hall having sitting capacity of 15
of Heavy Industries and Public Enterprises, Joint persons with all the modern facilities such as projec-
Secretary, DPE, CMDs and other senior officers of tor for live projection of record of proceedings on a
Govt. of India and PSUs. large screen with free service of mineral water, tea/
coffee and biscuits. High tea and lunch can also be
SFCA has framed its own rules prescribing consoli-
arranged by the Forum on request in advance at the
dated fee structure and expenses with the assurance
cost of the parties by authorised caterer of SCOPE.
that arbitration proceedings shall be completed in
the shortest possible time and shall be more eco- PSUs are requested to advise the concerned of-
nomical in comparison to other institutions. A ficials to avail facilities of the Forum and re-
panel of expert Conciliators and Arbitrators has fer cases to SCOPE Forum of Conciliation and
also been drawn which consists of retired Judges Arbitration(SFCA).
For further details please contact For booking and tariff details please contact
Mr. M.L. Maurya, General Ms. Radhika Mr. S. K. Sharma
Manager (Technical) Executive - Legal (SFCA) (M) 9891781484, 24365739
Mobile No.9313375238. (M) 8920574097, 24360559 e-Mail: sfcascope@gmail.com
e-Mail: scopesfca@gmail.com
NTPC signs Pact with Jabalpur Mr. Yogesh J. P. Sharma, ED, NBCC and Mr. Sanjay Seth,
Senior Director, TERI exchanging MoU documents.
for E-Mobility Solutions
NTPC has signed a tripartite Memorandum of Under the MoU, TERI will be providing advice and
Understanding (MOU) with Jabalpur Smart City consultancy to NBCC on identifying solutions for
Ltd. and Jabalpur City Transport Services Ltd. for sustainable development and implementation of
the city’s foray in the e-mobility. GIRHA for new projects. TERI will also be assisting
The MoU was signed by Mr. Ved Prakash, Commi- NBCC in formulating sustainable development pol-
ssioner, Municipal Corporation of Jabalpur & MD, icy and long term sustainable development plan.
Jabalpur City Transport Services Ltd., Mr. Gajendra Further, it will be giving consultancy for conduct-
Singh Nagesh, CEO Smart City Jabalpur and Mr. ing environment assessment and energy manage-
Praveen Saxena, General Manager, NTPC. ment in the existing projects among others.
IREDA bags ‘Golden Peacock Mr. S.K. Gupta, Director (Technical), REC receiving the award
from Dr. Satya Pal Singh, Minister of State, Ministry of Water
Corporate Ethics Award 2017’ Resources, River Development & Ganga Rejuvenation.
Indian Renewable Energy Development Agency
Limited (IREDA) has been awarded ‘Golden REC has been awarded for its outstanding contri-
Peacock Corporate Ethics Award’ for the year 2017. bution to financing of power infrastructure across
The award was presented by Justice (Dr.) Arijit the entire value chain and spearheading speedy
Pasayat, former Judge, Supreme Court of India to implementation of the Rural and Household
Mr. K.S. Popli, CMD, IREDA at a function held re- Electrification programmes for inclusive growth in
cently in New Delhi. the country.
Mr. Atul Sobti, CMD, BHEL speaking at the 69th Republic Day
celebration at BHEL’s township, Noida.
MCL celebrates Republic Day
with patriotic fervour
He addressed a large gathering of BHEL employees Mr A. K. Jha, CMD, Mahanadi Coalfields Limited
and their families. A march past and cultural pro- (MCL), unfurled the Tricolour and greeted every-
gramme was also organised on the occasion. one as flagship subsidiary of Coal India Limited cel-
ebrated 69th Republic Day recently with patriotic
Cochin Port Trust Celebrates fervour and gaiety. The CMD also took salute of
23 contingents of marching contingents of Security
Republic Day personnel, NCC cadets, Scouts and Guides, Jagriti
Mahila Mandal’s Laadli girls and various schools of
Sambalpur.
Mr. Utpal Bora, CMD, Oil India Ltd., hoisted the National Flag
amidst singing of the National Anthem and subsequently
addressed the gathering of OIL personnel, including the
Functional Directors, at the 69th Republic Day celebrations
at Oil India Limited’s Corporate Office in NOIDA.
C
elebrating 25 years of International Air Transport
India - ASEAN relation- Association, Lao Air Traffic man-
ship, Airports Authority agement, Directorate General of
of India signed an historic Civil Aviation, Laos and Airports Flt. Lt. Akashdeep Mathur, APD,
agreement with Lao Air Traffic Authority of India. Bhopal, AAI, Mr. S.N. Borkar, GM
Management, Department of (Vig.), Mr. M.P. Juneja, IEM, AAI, Smt.
Speaking on the occasion, DGCA Nivedita Dubey, GM(HR), AAI and Mr.
Civil Aviation Lao PDR for pro- Laos said that Lao PDR is look- R.K. Joshi, GM (Engg.) & DCVO(T)on
viding SkyRev360, a comprehen- ing forward to work in close dias in workshop on “Vigilance as a
sive e-data gathering, invoicing co-operation with AAI in near Management Function” conducted at
and collection system. SkyRev360
future. Mr. Ravi Shankar Aisola, Bhopal Airport.
has been developed in collabora-
Ambassador in Laos, termed the
tion with the International Air
contract signing as a historic mo- The topic of the workshop was
Transport Association (IATA)
ment in the relationship between “Vigilance as a management
under the Government of India’s
India and Laos. function” which covered various
Make in India initiative.
While speaking on the occasion aspects of vigilance and disciplin-
The agreement was signed re- ary matters. Mr. M.P. Juneja, IEM,
Mr. S Suresh, Board Member
cently by Mr. S. Suresh, Board
(Finance), AAI emphasized that AAI, Ex. CTE, CVC& Ex. Addl.
Member (Finance), AAI and
considering 25 year-long India- Member, Railway Board spoke on
Mr. Somchit Vinitkeophavanh,
ASEAN relationship, the signing “Common Irregularities in Public
General Director, Lao Air Traffic
of this agreement will usher in Procurement Process”. The pre-
Management in the presence
new era of friendship and co-op- sentations during the workshop
of HE Bounchanch Sinthavong,
eration between India and Laos. included Vigilance case studies,
Minister of Public Works and
Transport, Laos, Mr. Vanhpheng ECDA Regulations, Vigilance
Chanthaphone, Director General Workshop on Vigilance as Aspects in Project Management
Civil Aviation, Laos, Mr. Ravi a Management Function and a presentation by GM
Shankar Aisola, Ambassador by AAI (Vigilance). Various issues related
of India in Laos, Mr. Manfred A two-day workshop was orga- to preventive vigilance were in-
Blondeel, Director (E&F), IATA nized by Corporate Vigilance tensely discussed and deliberated
and other senior officials from Department of Airports Authority in the workshop.
P
India Limited & Bihar State Power
ower Finance Corporation The estimated cost of the project is (Holding) Company Limited in-
Limited (PFC) has sanc- Rs. 1688.36 cr. which is proposed corporated to develop the Intra-
tioned a financial assistance to be funded in Debt-Equity ratio State Transmission System in the
of Rs. 1350.69 cr. to Bihar Grid of 80:20 and the project is expected State of Bihar.
G
the state of West Bengal upto to be completed progressively
AIL (India) Limited has Haldia and City Gas Distribution by Dec’20. The project will ush-
started pipeline construc- in Kolkata are also expected to er Industrial development in
tion work in the state commence shortly. The 2655 Eastern part of India by supplying
of West Bengal for providing Km long JHBDPL project was environmentally clean Natural
gas supply to Matix Fertilizers, inaugurated by Prime Minister Gas to Fertilizer and Power
Durgapur. This project is being of India in July’2015. The proj- plant, Refineries, Steel plants and
executed as a part of ‘Pradhan ect is progressing in full swing. other Industries. Further, the ar-
Mantri Urja Ganga’ pipeline The pipeline will pass through rival of the Pradhan Mantri Urja
project i.e. Jagdishpur- the states of Uttar Pradesh, Ganga will provide direct and
Haldia and Bokaro-Dhamra Bihar, Jharkhand, West Bengal indirect employment to thou-
Natural Gas Pipeline (JHBDPL) and Odisha. The project is being sands of people.
G
iving further thrust to the performing control and stability
‘Make in India’ initiative, augmentation function and auto-
Hindustan Aeronautics pilot modes of helicopters. The
Limited carried out the first indigenous development of the
flight of Light Combat Helicopter Hardware, Software and Control
(Technology Demonstrator-2) Law is a fully in-house effort of
with its own designed and devel- HAL R&D Centres - RWR&DC
oped Automatic Flight Control and MCSRDC at Bengaluru,
System (AFCS) for the first time SLRDC at Hyderabad and Korwa
in the country. The maiden flight Division, he added. Wg Cdr
(Retd) Unni K Pillai, Chief Test Light Combat Helicopter (Technology
was flawless and flew for 20 min-
Pilot and Gp. Capt (Retd) Rajesh Demonstrator-2) with its own design-
utes with the engagement of the ed and developed Automatic Flight
Verma, Test Pilot were on the
system throughout. Control System (AFCS).
controls of LCH. Representatives
The development of indigenous from certification agencies and se-
AFCS is HAL funded project nior officers from HAL were pres- Indian private industries and de-
and will replace the high val- ent. HAL has already indigenised velopment flight testing is under
ue imported system, says Mr. the Cockpit Display System progress. The Initial Operational
T. Suvarna Raju, HAL, CMD. on LCH namely the Integrated Clearance (IOC) for LCH was ac-
The AFCS is a digital four axis Architecture Display System corded on August 26, 2017 in the
flight control system capable of (IADS) with the participation of presence of Defence Minister.
Mr. J. C. Nakra Mr. Prabir K. Mr. S. N. Pandey Mr. S. K. Barua Mr. Rana S.
has assumed charge as Mukhopadhyay has assumed charge takes over as Managing Chakravarty
CMD, Engineers India Ltd. has assumed charge as as MD, CPCL. Director of NRL. has joined HEC as Director
Chairman, DVC. (Marketing).
Mr. Susanta Kumar Mr. Visvanathan Mr. B. V. Rama Mr. Subhash Kumar
Roy Muralidharan Gopal has taken charge as
has been appointed as has taken charge as has taken over as Director Director (Finance), ONGC.
Director (Projects), NTPC. GM(Finance) Corporate (Refineries), IndianOil.
Office of BEL.
Mr. Prakash Tiwari Mr. R. P. Srivastava Mr. Neelesh Kumar Mr. H. L. Bharaj
has taken over has taken over the Shah has assumed the charge of
charge as Director charges of Director (P&IR) has been appointed Executive Director, THDC.
(Operations), NTPC. Coal India Ltd. Director (Projects), NBCC.
M
Enterprises. While addressing
r. Anant Geete, Minister, Minister CMD informed Minister the employees Minister stated
of Heavy Industry and that the engineers and designers in that there have been many chal-
Public Enterprises visit- HEC are quite innovative and re- lenges for the Public Sector
ed HEC Ltd. recently. He flagged cently have developed Hydraulic Undertakings but, inspite of
off Main Gear wheel manufac- Excavator which is one of the those challenges companies like
tured in HMBP which is a very state of art machine for use in the HEC has been doing jobs of na-
important component of 24 / 96 Mining sector. Minister was also tional importance.
A
is very critical for the develop-
fter being exported to opportunities of exporting wax ment of North East. The India-
19 countries across the more countries in the near future. Myanmar Friendship Road of
globe, NRL Wax now
100 miles connects Moreh (India)
makes its way into the European NRL Wax Export to to Kalewa (Myanmar) and the
market. The first consignment of Myanmar to open flood- Government of Myanmar is
132 metric tonnes of Wax has been gates for International heavily investing in roads and in-
flagged off to Poland from the
trade with Southeast Asian frastructure in this stretch which
Company’s Marketing Terminal
countries via land route would provide access to the
at Numaligarh recently by Chief
A consignment containing 20 wealthy interiors of Myanmar.
General Manager (Finance) NRL
metric tonnes of Wax in two full We feel there is a great potential
Mr. Indranil Mitra in presence of
truckloads was flagged off from of revival of international com-
senior officials of the Company.
Numaligarh Refinery Marketing merce through roads and rails be-
Export to Europe assumes special Terminal to Myanmar by MD tween India and Myanmar”.
significance since the European
market is known to be qual-
ity conscious and entry into this
prestigious market will further
enhance the brand value of NRL
Wax. This is also a testimony to the
high quality of NRL wax, which
has within a span of two years,
been able to establish a foothold
in more than a dozen countries
worldwide including Mexico,
Kenya, Nepal, Bangladesh, Nica-
ragua, Thailand, Hong Kong
(China), Brazil.
With this consignment, the to-
tal export of NRL Wax stands
at around 6,000 metric tonnes. Flag off of Wax to Myanmar by MD(IC) NRL, Mr. S.K.Barua from Numaligarh
The Company is also exploring Refinery Marketing Terminal WW.