Page Industries Ltd. — AGM Information 2021

Jun 1, 2021

June 1, 2021

The Secretary The Secretary Corporate Relationship Dept. National Stock Exchange of India The Bombay Stock Exchange Limited Rotunda Building Exchange Plaza, Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Mumbai – 400 051

Dear Sir,

Sub: Newspaper advertisement on Annual General Meeting through Video conference - Reg.

We herewith enclosed copies of newspaper advertisement published on 1[st] June 2021 in Business line and Samyuktha Karnataka on 26[th] Annual General Meeting through Video Conference (VC)/ Other Audio Visual Means (OAVM).

Copies of the said advertisement is also available on the website of the Company.

Thanking you,

Yours truly,

For Page Industries Limited Digitally signed by Murugesh Murugesh Date: 2021.06.01 13:51:55 +05'30' Murugesh C Company Secretary

BENGALURU

NEWS

7

BusinessLine TUESDAY[•] JUNE 1[•] 2021

RBI asks banks not to cite its 2018 cryptocurrency circular

Set for IPO, Paytm cuts down on losses, diversifies

Adar Poonawalla appointed Chairman of Magma Fincorp

OUR BUREAU ector. Veteran banker Vijay Desh­

Mumbai, May 31 wal will take charge as CEO at Points out that the should ensure compliance with Adar Poonawalla, CEO, Serum In­ Magma Fincorp from the first Fintech firm also glomerate SoftBank, Elevation relevant provisions under For­ stitute of India, was appointed as week of July. He will also be the Capital and Ant Financial are also circular quoted has eign Exchange Management Act chairman of Magma Fincorp on Group CEO of Poonawalla improves revenue likely to dilute their shareholding been set aside by (FEMA) for overseas remittances. Monday. “Magma Fincorp has an­ Group’s financial services busi­ from operations as part of the IPO. SoftBank is look­ nounced a series of leadership ness, the release said. Deshwal is ing to sell shares of as much as $1.5 the apex court Banks issue warnings changes following the Poon­ currently a business head at ICICI

SURABHI billion in the IPO. Paytm did not Recently, many banks warned do­ awala­controlled Rising Sun Bank.

Mumbai, May 31 comment on an email query sent OUR BUREAU mestic crypto currency investors Holdings acquiring controlling The NBFC is set to augment the Fintech major Paytm, which is by BusinessLine. Mumbai, May 31 about virtual currency transac­ stake through an equity infusion leadership team further with getting ready for listing, has been With the IPO plan in process, it The Reserve Bank of India (RBI) on RBI has asked banks to carry out tions being done through their of ₹3,456 crore in May 2021,” it more professionals set to join in cutting down on its losses and has is likely that Paytm's financial pos­ Monday asked regulated entities customer due diligence bank accounts and have said it is said in a statement. the second quarter of the fiscal. also been diversifying into busi­ ition may have improved further to desist from citing or quoting not permitted by RBI. “The rebranding of the company nesses other than payments. Paytm’s net worth has but whether it has managed to from its April 2018 circular on by banks/ regulated entities are Many crypto investors tweeted Ajay Bhutada is new MD as a Poonawalla Group firm is un­ One97 Communications Ltd, increased by 39.35 per cent break even is still to be seen. “Prohibition on dealing in Virtual not in order as this circular was that HDFC Bank has sent them a It has also appointed Abhay derway,” the statement further which is the parent company of “Paytm has come a long way from Currencies (VCs)” as it is no longer set aside by the Hon’ble Supreme cautionary email stating that Bhutada as the Managing Dir­ said. Paytm, posted a net loss of fiscal. Its net worth had increased asimple digital wallet business to valid following the Supreme Court on March 04, 2020 in the their account reflects probable ₹2,833.18 crore in the year ended by 39.35 per cent to ₹8,411 crore as an integrated payments ecosys­ Court setting the circular aside in matter of Writ Petition (Civil) virtual currency transactions, March 31, 2020, according to data on March 31, 2020. The board of tem...With increased financial dis­ March 2020. The regulated entit­ No.528 of 2018 (Internet and Mo­ which is not permitted by the RBI from Tofler. One97 Communications in its cipline (rare in the hyper compet­ ies include all Commercial and bile Association of India v. Reserve based on their 2018 circular. SBI This was an improvement from meeting on May 28 had approved itive payments space), Paytm is on Co­operative Banks, Payments Bank of India),” RBI said in a state­ Card too has sent a similar advis­ the net loss of ₹3,959.64 crore in the IPO. track to break even in 12 to 18 Banks, Small Finance Banks, Non­ ment. ory to customers and said that us­ 2018­19, it revealed. months,” said a recent report by Banking Finance Companies, and The central bank said the regu­ age of credit cards for transaction However, the losses had $3-billion fundraising plan Bernstein. Payment System Providers. lated entities may, however, con­ on virtual currency merchant widened compared to 2018­19, The company is hoping to file its The central bank said it has tinue to carry out customer due platforms may lead to suspension when it had registered a net loss draft red herring prospectus Valuation improves come across media reports that diligence processes in line with or cancellation of the credit card. of ₹1,490.47 crore. (DRHP) by July and launch its IPO Vijay Shekhar Sharma, who is the certain banks/ regulated entities regulations governing standards Private digital currencies/ vir­ Revenue from operations and in November or December this founder and CEO of Paytm, had have cautioned their customers for Know Your Customer (KYC), tual currencies/ crypto currencies net worth had touched an all time year to raise $3 billion. According earlier indicated that the com­ against dealing in virtual curren­ Anti­Money Laundering (AML), (CCs) have gained popularity in high in 2019­20. to sources, Paytm could raise $1.5 pany would look at a possible list­ cies by making a reference to the Combating of Financing of Ter­ recent years. RBI is exploring the Its revenue from operations billion through the primary sale ing after cutting down on losses. RBI circular on “Prohibition on rorism (CFT) and obligations of possibility as to whether there is a also improved marginally to route ahead of the IPO. Its valuation is also understood to dealing in Virtual Currencies regulated entities under Preven­ need for a digital version of fiat ₹3,115 crore in 2019­20 from Significantly, existing share­ have increased from around $16 (VCs)”dated April 06, 2018. “Such tion of Money Laundering Act, currency and in case there is, then ₹3,049.87 crore in the previous holders including Japanese con­ billion to about $20 billion. references to the above circular (PMLA), 2002. Further, they how to operationalise it.

SURABHI

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...but extension may only have

ECLGS tweaks may bring cheer to multiplex, hospitality sectors...

who is looking for ways to obtain funding in the medium term. But this does not mean that all would soon be well for the avi­ ation industry, According to Martin, at best, ECGLS should be taken as a cover and used to manage salaries. “The ₹200 crore amounts to just about $26 The ECLGS would help a few million, which does not offer players in the short run any major financial support,"he said. work Thoughts, said that the On the flip side, according to ECLGS will have a short­term pos­ Ambit Capital’s Varun Ginodia, itive impact on airlines. While a this step also delays the sector loan of ₹ 200 crore will only help consolidation and is increment­ the airline for 3­6 months, this ally negative for airlines with could go a long way as a stop­gap strong balance sheet/promoters arrangement for somebody like Indigo and Vistara.

MEENAKSHI VERMA AMBWANI which were showing resistance FORUM GANDHI

SHISHIR SINHA towards the stressed sectors, Mumbai, May 31

New Delhi, May 31 thanks to the guarantee offered The Centre's decision to extend The Central government’s by the Central government at the sovereign­backed Emer­ latest move to modify the lower interest rates with exist­ gency Credit Line Guarantee Emergency Credit Line Guaran­ ing security.” Scheme (ECLGS) programme to tee Scheme (ECLGS) is expected the aviation sector could be of to bring some relief to the Filing recommendations too little benefit for the sector hard­hit multiplex and hospit­ Earlier this month, various and is likely to benefit only some ality sectors as they grapple Cinemas across the country hotel industry bodies had also of the players. with the impact of the second are shut due to lockdowns submitted recommendations Mark D Martin MRAeS, CEO of pandemic wave. imposed by States to the Finance Ministry to Martin Consulting said, "Inclu­ On Sunday, the Finance Min­ bring changes in the ECLG sion of the aviation sector into istry brought in key changes in “This will go a long way in scheme. ECGLS is encouraging as it ac­ ECLGS 3.0. This includes re­ providing additional liquidity Pradeep Shetty, Joint Secret­ knowledges the Government's moval of the ceiling of ₹500 to various companies in the In­ ary, Federation of Hotel & Res­ acceptance of the deep financial crore of loan outstanding as on dian multiplex industry which taurant Associations of India impact with regard to air trans­ February 29, 2020 to be eligible has been one of the worst hit (FHRAI) said, “This announce­ port and airports in India.” to get credit under the scheme. sectors in the pandemic and ment of modifications in Koushik Jagathalaprathaban, However, it will be “subject to provide them with much ECLGS scheme 3.0 and the pro­ Independent Consultant at con­ maximum additional ECLGS as­ needed liquidity support to posed 4.0 are most welcome sultancy AT­TV, saidthat airlines sistance to each borrower be­ tide through these troubled and will bring in the desper­ like Vistara and Indigo have ing limited to 40 per cent or times.” ately needed changes in this already infused equity and/or ₹200 crore, whichever is Cinemas across the country scheme. We are thankful to the have cash reserves to weather lower.” A senior government of­ are currently shut as the State government in heeding to our the storm. “Air India can get a ficial told BusinessLine that governments have imposed requests. We will now need to sole sovereign guarantee many big players in the multi­ lockdown­like restrictions to see the operational circular.” whereas Spice jet and GoAir can plex or hotel sectors, who had curb the spread of the second He added that the industry benefit from the scheme but will taken loans from overseas and pandemic wave. hopes the issues of banks not add to their debt levels.” domestic institutions,were not Kailash Gupta, Chief Finan­ implementing this scheme get BusinessLine had reported eligible on account of the ₹500 cial Officer, INOX Leisure Ltd adequately addressed. that SpiceJet had approached its crore cap. “Now, they should said, “The expansion of the Shetty said that the stringent lenders for a one­time debt re­ not have any problem and will Emergency Credit Line Guaran­ lockdown orders by various structuring and ₹500 crore get guaranteed loan up to ₹200 tee Scheme by the Finance Min­ State governments have working capital. According to crore,” he added. istry will provide vital assist­ severely impacted the hospital­ sources, that proposal is moving ance to a sectors like ours, ity industry. “As per industry es­ at a snail’s pace. Industry players’ reaction which have been under tre­ timates, in FY 2020­21, approx­ Reacting to government’s an­ mendous financial stress. The imately 75 per cent of the Short-term impact nouncement, Nitin Sood, Chief new provisions would take care industry's revenues got wiped However, Ameya Joshi, aviation Financial Officer, PVR Ltd said, of the apprehensions of banks, off,” he said. blogger, and founder of Net­

The ECLGS would help a few players in the short run

IBF sets up regulatory body for digital content

OUR BUREAU

New Delhi, May 31 The Indian Broadcasting Founda­ tion (IBF) on Monday announced the appointment of Justice (Retd.) Vikramjit Sen as the Chair­ man, along with six other in­ dustry members for the newly­ formed Digital Media Content Regulatory Council (DMCRC). The industry body had earlier said that it will soon be renamed as the Indian Broadcasting & Di­ gital Foundation (IBDF) and will become the apex body of broad­ casters and OTT operators.

Second-tier mechanism DMRC, an industry­led self­regu­ latory body for digital OTT plat­ forms, is a second­tier mechan­ ism at the appellate level, similar to Broadcast Content Complaint Council (BCCC), it stated. “The Council includes national award­ winning filmmaker Nikkhil Ad­ vani; Deepak Dhar, CEO, and founder, Banijay Group; promin­ ent artist, filmmaker, and writer Ashwiny Iyer Tiwari; and creative writer and innovative director, Tigmanshu Dhulia. The other two members from the OCCPs (On­ line Curated Content Providers) are Ashok Nambisan, General Counsel, Sony Pictures Pvt. Ltd, and Mihir Rale, Chief Regional Counsel, Star and Disney India,” it said in a statement. The effort to expand its purview to OTT players is being done as per the mandate of Information Technology (In­ termediary Guidelines and Di­ gital Media Ethics Code) Rules, 2021.

CM YK

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Printed and Published by Ashok shanbag on behalf of The Loka Shikshana Trust Printed at the Metropolitan Media Co. Ltd., No. 284(part), 285, 286, 287, Bykampady Industrial Area, Mangaluru-575 011 Phone No. 0824/2426622 email: skmglr@gmail.com. RNI Regn. No. 3864/1959. Editor : Hunasawadi Rajan CMYK