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


(CIN): U51109WB1999PTC089112
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