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11/13 Botawala Building 1st Floor Office No 2-6 Horniman Circle Fort Mumbai 400 001 India
Tel: 91-22-6121-8400 | Fax: 91-22-61218499
Registered Office: 1, Bishop Lefroy Road, Kolkata – 700 020
Corporate Identity Number (CIN): L15491WB1962PLC031425
Email: [email protected]
Website: www.tataconsumer.com
October 21, 2020
The National Stock Exchange
of India Ltd.
Exchange Plaza,5th floor
Plot No. C/1, G Block
Bandra Kurla Complex
Bandra (E)
Mumbai 400 051
Scrip Code – TATACONSUM
BSE Ltd.
Corporate Relationship Dept.
1st Floor, New Trading Wing
Rotunda Building, PJ Towers
Dalal Street
Mumbai 400 001
Scrip Code – 500800
The Calcutta Stock
Exchange Ltd.
7 Lyons Range
Kolkata 700 001
Scrip Code – 10000027
(Demat)
27 (Physical)
Sub: Submission of newspaper advertisement of the Notice of Board Meeting of the
Company
Dear Sir/Madam,
Pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 20I5 as amended, please find enclosed copies of the newspaper
advertisement pertaining to Notice of Board Meeting of the Company to be held on
Friday, November 6, 2020. The advertisements were published in Business Standard (English)
all India edition and Sangbad Pratidin (Bengali) on October 21, 2020.
This is for your information and records.
This will also be hosted on Company's website at www.tataconsumer.com
Yours faithfully,
For TATA CONSUMER PRODUCTS LIMITED
Neelabja Chakrabarty
Company Secretary
Encl: a/a
4 COMPANIES KOLKATA | WEDNESDAY, 21 OCTOBER 2020 1>
ABHIJIT LELEMumbai,20October
Ratnagiri Gas and Power (RGPPL), earlierknown as Dabhol Power, has approachedits lenders for a one-time settlement (OTS)of its outstanding debt worth ~1,461 crore.
The thermal power producer hasdelayed servicing of its principal compo-nent in loandue inSeptember,while it haspaid the interest due for the month.
RGPPL is promoted byNTPC (25.51 percent),GAIL (25.51per cent),MSEBHoldingCompany or MSEBHCL (13.51 per cent),and financial Institutions — IDBI Bank,SBI, ICICIBank (withcombinedsharehold-ingof 31.55per cent). Itwas formed to takeover the partially completed assets of thepower project owned by Dabhol PowerCompany (DPCL).
The power plant has installed capacityof 1,967.08 Mw (640 Mw, 663.54 Mw and663.54 Mw for respective power blocks).
According to CARE Ratings, the com-panyhas requested its lenders for theOTS,forwhich the lead lenderhasgiven in-prin-ciple approvalwithcut-offdate consideredas September 1, 2020. Other lenders arestill under the process of taking requisiteapprovals. Its promoters are providingfinancial assistance to settle dues oflenders and become a debt-free company,a senior banking executive said.
Thecompanyhadnotavailed themora-toriumfirmscouldoptforontheirdebtobli-gations for a period of six months fromMarch 2020 to August 2020. CARE hasdowngraded company’s long term bankfacilities from “BB-” to “D”. The revision inthe longtermratingofRGPPLfactors in thedelayinservicingof itsprincipalobligations.
Its operations have been hit by lowavailability of fuel. The company hasentered into long termfuel agreementwithGAIL (India) Limited for next five years(from April 01, 2017) for securing the LNGat competitive rates. However, the avail-ability of gas in last twelve months hasbeen much lower than the normativerequirement (i.e less than 30 per cent).
The company is running power plantsat Sub-optimal level due to lowergas avail-ability and ongoing dispute in theMSEDCL. Only one out of the three powerblocks of RGPPL is operational, with thesecond one acting as a back-up. The PLFof the plant continues to be low at 25 percent inFY20andabout 12per cent inApril-September 2020 (H1FY21).
RatnagiriGasseeksone-timeloansettlement
At the time of the deal, it was15 times the revenue size ofDisney India.Shankar,backedby the Murdochs, had beennimble at picking up growthopportunities in languages(Maa TV, Asianet), investingin other genres (films, sports),in developing the market(kabaddi, football, cricket andIPL) and digital (Hotstar).Disney,ontheotherhand,hadbeen cautious and at timesunlucky.
Then there are the culturaldifferences. Disney is a highlyprocess-driven,wedded-to-itsmargins, American multina-tional while Star is entrepre-neurial, quick-on-its-feetmuch like Murdoch himself.Foxbelieves in going local; forDisneyanythingoutsideof theUS is a syndication opportu-nity for Avengers or Toy Storyor any of its American storiesand characters. “Merging twocompanies of this type andsize was difficult because ofdifferent management cul-tures and strategies. But therewas great enthusiasm aboutthe future of Star,” says Vogel.Soon after taking over, DisneyappointedShankaras theheadfor Asia, paraded him in frontof Wall Street and heard care-fully when he insisted thatsharing theDisneynamewithHotstar would work better inAsia; that is howDisney+Hotstarwas born.
It seemed that thingswouldwork.
…AndmeetsavirusThen two things happened.
One, the pandemic killedtheme parks, making Disneypivot to a direct-to-consumerstrategy. Last week, itannouncedareorganisationofits film and TV business withtheaimofpushing streaming.Disney was egged in part, sayanalysts, by the fact thatNetflix with one-third of its
revenues had a higher marketcapitalisation than Disney.The market responded andDisney’s shares rose. Much ofthis makes sense for the USbut, “Disney’s APAC revenuesin (calendar year) 2019 was anestimated $6.5 billion plus.About 40 per cent of thiscomes from India,” saysVivekCouto, executive director,Media PartnersAsia.
Nowhereoutsideof theUSdoesDisneyhave sucha large,robustbroadcastingbusiness.It helps that broadcasting inIndia is growing indoubledig-its even as streaming rises.This is in contrast to the USwhere streaming is substitut-ing TV. And broadcasting iscritical to the growth of theone Indian brand Disneyenthusiastically discusseswith analysts in New York —Hotstar.
More than half of what iswatched on Hotstar is Star TVcontent — whether it is TVshows or cricket or kabaddi.Byitself,Hotstar is justa~1,113-crore loss-making business,likemostOTTs.HowthencanitbeuncoupledfromStar?Willit sell off StarTV like it soldoffSky to Comcast or will itsimply stop investing in it?
Two, Iger and Mayer quit.
“Now the question is are they(Disney) behind the big bet orwill they cut their losses andrun,” asks a former manager.Their choice of the next CEOfor India will make thingsclear. “Uday had vision, man-date and also regulatory con-fidence. The next person whoruns it has to have vision andthe Disney mandate,” he says.
“Disney’s record of acqui-sitions has been excellent onthe largeones includingPixar,Lucasfilm, Marvel, andstreaming tech,” says Vogel.But most of those companiesare based out of the US, pointout Indian analysts.
What Disney could learnfrom Star is the value of trulylocalising– in sensibilities,content and management.And what Star could learnfromDisney ishowtoscaleupcharactersgloballyandmone-tise them better. A successfulmergermeans localbroadcast-ingcouldcontinue to fundthestreaming business in Indiaand rest of Asia instead ofbecominganassetwritedowna fewyears down the line.
There ismuch tobegainedif good sense prevails both intheheadoffice inBurbankandin India, industry watcherspoint out.
Star India in fluxasDisneyeffectgainsground
FROM PAGE 1
DEV CHATTERJEEMumbai,20October
Indian lenders in November2017 came close to clearing adebt-restructuringpackage forVideocon Industries after the
forensic auditors gavea cleanchit tothe company.
But within a month, the ReserveBank of India (RBI) asked the banksto send thecompany to theNationalCompany Law Tribunal (NCLT) fordebt resolutionunder the Insolvencyand Bankruptcy Code (IBC) 2016.
Since then, thebanks arewaitingfor their dues as litigation onappointing the resolution profes-sional and bringing all group com-panies in the tent of one resolutionplan have delayed the process.
By the time bids were called thisyear, threeyearswere lostwithbanksnot receiving a penny.
Thepromoters,meanwhile, haverevived their 2017 debt-restructur-ingplanandasked thebanks to con-sider its application under Section12A of the IBC, which gives the pro-moters an opportunity totake back control of theircompanies. The companyhas also attracted theattention of suitors likeVedanta and formerBharti Airtel directorAkhil Gupta,whohas bidfor the company via hispersonal entities.
The Videocon lenderswill be votingon thebidders’ propo-sals this week.
Whatwentwrong?The former promoters of Videoconsaid the cancellationof second-gen-eration licencesof their telecomsub-sidiary by the Supreme Court hadresulted inahuge loss.Thecompanyhad invested~10,000crore in its tele-com subsidiary and after it was shutdown, it not only lost the equity butwas also made liable for the debttaken by it.
“The abrupt cancellation of the
licenceswasadeathblowtothecom-panyand itwasneverable to recoverfrom the losses,” said a former com-pany official. By the time, the com-
panywassent fordebt res-olution, it owed thelenders close to ~40,000crore.
In its debt-restructur-ing proposal, theVideocon promoters havesaid since the group start-ed its business in 1984 tillDecember 2016, it hadnever defaulted on its
loans and managed to take on com-petition from cheap products madeinChinaanddumpedin Indianmar-kets.
Asking foradebt recast, thecom-pany’s founder, V N Dhoot, said thebankswould not have to take a hair-cut on their loans and the firm willpay its dues by selling its real estateassets.
“Videocon fell into losses due toexternalandunforeseenfactors suchas the2G judgementandcrash in thereal estate market. We have theexpertise to re-build the business,”
saidChairmanDhoot.Videoconcanreviveand takeoncompetition fromChina under the Make-in-India ini-tiativeandtherecentbanonChineseelectronics products.
Whatnext?One of the biggest losers inVideocon’s bankruptcyproceedingsis its former staff. As they were notpaid for months, several employeesstopped coming to work and arewaiting for opportunities for overtwo years. The pandemic has madethings worse.
“Thepandemichasbought to themarket more people with similarskill sets. As most of the companiesarenot investing, there is no job cre-ation,” said a former Videocon offi-cial in his early fifties.
“No one is looking at the humancost of sending companies to theNCLT without a viable plan for theemployees,” he said.
“Some of us have opened sand-wich stalls and ice-creamparlours –just to survive. But Corona has shutthat down, too,” theofficial, earlier awhite-collar worker, said.
Videocon: Lenders inwait-and-watch modeRBIasksbankstosendfirmtoNCLTfordebtresolutionunder IBC2016
MAY ‘16: VIL declared a specialmention account-2 by JLFOCT ’17: VIL submits debt recastplan to JLFDec ’17: RBI directs SBI to send VILto NCLT; SBI asks RBI to reconsiderDec ’17: RBI rejects SBI application;sends VIL to NCLT
Sep ’18: Lenders seek offers fromprospective biddersAug ’19: SBI seeks offers for oil andgas businesses of VILFeb ‘20: NCLT orders consolidationof all group entities into one planAug ‘20: VIL promoters ask lenders toreconsider its debt recast proposal
THE SLOWINGIBCWHEEL-2
THE NEVER-ENDING STORY
More thanhalf ofwhat iswatchedonHotstar is StarTVcontent—whether they areTVshowsor cricket or kabaddi
Notice is hereby given that pursuant to Sections 108, 110 and other applicableprovisions, if any, of the Companies Act, 2013 ('the Act') read with Companies(Management and Administration) Rules, 2014 and Securities and ExchangeBoard of India (Listing Obligations and Disclosure Requirements) Regulations,2015 (LODR) and in accordancewith theCircular No 33/2020 datedSeptember
th28, 2020, Circular No.22/2020 dated 27 June, 2020 read with Circular No.
th th14/2020 dated 8 April, 2020 and Circular No. 17/2020 dated 13 April, 2020issued by the Ministry of Corporate Affairs (“MCA Circulars”), the Company isseeking approval of the members by way of Postal Ballot with E-Voting facilityfor:
1. ChangeofNameof theCompany2.Alteration ofMemorandumofAssociation and3.Alteration ofArticles ofAssociation
The Company has sent Postal Ballot Notice together with explanatorystatement to thoseMemberswhose nameappear inRegister ofMembers of the
thCompany as on 16 October, 2020, (cut off date) through e-mail to Memberswho has registered their E- mail Address with the Company / RTA /
thDepositories on 20 October 2020. In view of the continuingCovid-19 pandemicand in compliance with the applicable provisions of the Companies Act, 2013andRules framed there under and the SEBI (ListingObligations andDisclosureRequirements) Regulations, 2015 andMCAcirculars, hard copy of Postal BallotNotice along with prepaid envelope could not be sent to the members for thisPostal Ballot and the members are required to communicate their assent ordissent through the remote electronic voting system (remote e.voting) only.
Postal Ballot Notice along with the explanatory statement is available and canbe downloaded from the Company's website www.precot.com and the websiteof Stock Exchange in which the shares of the Company are listed i.e., NationalStock Exchange of India Limited at www.nseindia.com and on the website ofLink Intime IndiaPrivate Limited (LIIPL) at www.instavote.linkintime.co.in.
In compliancewith Section 108 of theCompaniesAct, 2013 readwith Rule 20 ofthe Companies (Management and Administration) Rules, 2014 as amendedfrom time to time and Regulation 44 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015, the Members are provided withthe facility to cast their votes on all resolutions set forth in Postal Ballot Noticeusing remote e-voting provided by LIIPL. For further details in connection withe-voting,membersmay also visit thewebsitewww.instavote.linkintime.co.in.
Members of the company holding shares either in physical or dematerialisedform on the cut-off date, Friday October 16, 2020, shall be entitled to avail thefacility of remote e-voting.
All themembers are hereby informed that:
TheCompany has appointedMr K.Duraisami Company Secretary in Practice,C.P No 18308, Membership No.F6792 as Scrutinizer for conducting PostalBallot process in a fair and transparent manner. The result of Postal Ballot
ste.voting will be announced on or before 5 p.m on 21 November, 2020 at theRegistered Office of the Company and the same will be intimated to NationalStock Exchange of India Limited. The results shall also be displayed on theCompany'swebsite and on thewebsite of RTA(LIIPL).
In case the members have any queries or issues regarding e-voting, you mayrefer the FrequentlyAskedQuestions (“FAQs”) and Instavote e-Votingmanualavailable at https://instavote.linkintime.co.in, under Help section or write anemail to [email protected] or Call us :- Tel : 022 - 49186000 or mayalso contact Mrs S Kavitha, Company Secretary, Precot Meridian Limited,
thSF No.559/4, D Block, 4 Floor, Hanudev Info Park, Nava India Road,Udaiyampalayam, Coimbatore - 641 028. Phone No. +91 422 4321100 Email:[email protected].
For PrecotMeridianLimitedS. Kavitha
Compa ny Secretary
PRECOT MERIDIAN LIMITED(CIN: L17111TZ1962PLC001183)
Regd. Office :th
SF No.559/4, D-Block, 4 Floor, Hanudev Info Park,Nava India Road, Udaiyampalayam, Coimbatore - 641 028 Tel: 0422 - 4321100
FAX: 0422 - 4321200 Website: www.precot.com, E-mail: [email protected]
Coimbatore20.10.2020
NOTICE TO MEMBERS FOR POSTAL BALLOT AND E-VOTING
1. Date of mailing of Postal Ballot Notice 20.10.2020
Date and time of commencement of
remote e.voting 21.10.2020 at 10.00 a.m
Date and time of end of remote e.voting/ 19.11.2020 at 5.00 p.m
Postal Ballot Remote e.voting will not be
allowed beyond this date and time
Cut-off date for reckoning the members eligible 16.10.2020
for e-voting/Postal Ballot
2.
3.
4.
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Business StandardKOLKATA EDITION
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