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Page Industries Ltd. — Proxy Solicitation & Information Statement 2021
Nov 30, 2021
62181_rns_2021-11-30_d6474fa4-45b8-4543-b7b3-d4b6bf03f949.pdf
Proxy Solicitation & Information Statement
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30 November 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 Postal Ballot - Reg.
We herewith enclosed copies of newspaper advertisement published in Business line and Samyuktha Karnataka on 30 November 2021 on Postal Ballot and E-Voting Instructions.
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 Date: 2021.11.30 15:45:14 Murugesh +05'30' Murugesh C Company Secretary Encl: as above
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BENGALURU
NEWS 7
BusinessLine TUESDAY[•] NOVEMBER 30[•] 2021
Branches added by banks in FY21 at a decade low
Cashfree Payments invests $15 million in UAEbased Telr
Digitisation, consolidation and rise of alternative channels seen as reasons
Digitisation, consolidation and rise of a branch, customers will in No appetite for expansion creasingly be using mobile alternative channels seen as reasons phones for meeting banking re As at Branches of scheduled quirements. The investment will enable Cashfree to K RAM KUMAR Given that alternative bank March-end commercial banks “The endeavour is to have a Mumbai, November 29 ing channels are gaining pop No. of branches Increase right mix of physical and digital launch its offerings in the MENA region Banks added only 1,383 ularity as they offer the conveni 2021 1,54,485 1,383 infrastructure. The Bank is look branches in FY2021, the lowest ence of banking at customers’ 2020 1,53,102 7,728 ing at significantly expanding OUR BUREAU Founder, Cashfree Payments in a decade, as banking via al fingertips (mobile and internet 2019 1,45,374 3,465 its presence across locations Bengaluru, November 29 told BusinessLine, “The entire ternative channels such as di banking) as well as doorstep 2018 1,41,909 1,693 through new BCs and lighter Payments and API banking West Asian market is growing gital and Business Correspondents (BCs) gained traction amid banking via BCs, Banks’ will goslow on expansion of brickand 2017 1,40,216 5,358 formats,” Sanjiv Chadha, MD &CEO, Bank of Baroda, said in the solutions company CashfreePayments has made an equity rapidly when it comes to digitisation. The MENA region is wit the Covid19 pandemic. mortar branches to save on 2016 1,34,858 4,376 FY21 annual report. investment of $15 million in nessing a continuous trans transition whenever they go to Banks had expanded their costs, say industry experts. 2015 1,30,482 9,517 As part of the integration of Telr, a Payment Service Provider ition towards cashless other geographies across the branch network by 7,728 in 2014 1,20,965 11,686 Vijaya Bank and Dena Bank with (PSP) in UAE and Saudi Arabia. transactions, with traditional world. And, companies will not FY20, according to RBI data. EASE of banking 2013 1,09,279 8,474 BoB, the latter merged or ration With this investment, Cash brickandmortar businesses have to go look for new bank Another reason for the fewer The latest EASE (Enhanced Ac 2012 1,00,805 8,688 alised 1,310 branches and 1,135 free has become the single moving towards expanding on ing partners in these new coun branch additions in FY21 was cess and Service Excellence) re 2011 92,117 ATMs during FY21. largest stakeholder in Telr. This line offerings. Today, less than 2 tries,” Sinha noted. that five large public sector port underscored that through Source: RBI Rajkiran Rai G, MD & CEO, strategic investment will en per cent of retail purchases in Cashfree’s payouts offering banks (PSBs) — Bank of Baroda, improvements in digital chan Union Bank of India (UBI), high able Cashfree to launch its of these countries happen online. is integrated into the payments Punjab National Bank, Canara nels, most branchbased ser on these channels, many PSB broadbased use of technology, lighted the cost synergy that ferings in the MENA region on So, there is a huge market flows of internet businesses Bank, Union Bank of India and vices are now accessible to the customers have increasingly ad the Covid19 pandemic has can be achieved by way of op the back of Telr’s presence and opportunity.” like Cred, Dream11, Acko, Indian Bank — went in for customers from home and mo opted them for daytoday bank fuelled the proliferation of di timisation of physical distribu payment infrastructure. The He added that another Xiaomi and Nykaa among oth branch consolidation following bile, including in local lan ing needs. “Seventysix per cent gital modes of payment, pro tion of network through two companies also plan to reason for this investment is ers. The sixyearold company amalgamation of select PSBs guages. of all the financial transactions pelling the country towards branch & ATM network merger/ build a crossborder payments that today a lot of Indian busi claims to be profitable for the with them. This has enabled convenient across PSBs are now undertaken ‘lesscash’ alternatives. rationalisation, employee align platform to help Indian mer nesses are going global, and past four financial years. As at Marchend 2021, the net access to banking services, in through home and mobile ment, among others, in the chants accept payments from West Asia is one of the popular Founded in 2014, Telr is a work of offices of scheduled cluding during the nationwide channels such as mobile bank Mobile banking Bank’s annual report. customers in the MENA region expansion locations among UAEbased payment gateway commercial banks increased to lockdown imposed due to the ing application, internet bank “Bank’s mobile application will Following the amalgamation and viceversa. these companies. “The inten solutions provider. It enables 1,54,485 from 1,53,102 as at pandemic. ing platform, call centre, etc,” be the primary interface for cus of Andhra Bank and Corpora tion here is that once a com handling payments in over 120 Marchend 2020, as per RBI “Encouraged by the conveni the report said. tomers. Apart from a few ser tion Bank with UBI, the latter Growing market pany starts working with Cash currencies and 30 languages in data. ence and quality of experience Besides augmenting the vices which are best delivered at merged 277 branches in FY21. Akash Sinha, CEO and Co free, they will have a seamless asecured fashion.
BharatPe to launch gold loans for merchants soon
Gig workers’ union writes to Swiggy co-founder demanding better payouts Close to 10,000 delivery workers in Hyderabad Shadowfax and Rapido, etc. Super zones introduced was was are expected to go on an indefinite strike introduced was
Paytm Payments Bank rolls out all-in-one card
CAG asks CDOT, CDAC to recover, regularise ad hoc bonus of ₹1.54 cr
Close to 10,000 delivery workers in Hyderabad Shadowfax and Rapido, etc. Plans to raise about WX KR SRIVATS are expected to go on an indefinite strike concept Super zones introduced was bya $100 m in debt The fintech has alreadytied up with NBFCs for New Delhi, November 29Paytm Payments Bank bonus of ₹1.54 cr Swiggy last year, wherein a over 69 months gold loans and will be (PPBL) has rolled out a OUR BUREAU YATTI SONI “While the payout struc couple of nearby regions are ‘Paytm Transit Card’, aiming New Delhi, November 29 providing doorstep as Bengaluru, November 29 ture has remained un clubbed together to in SURABHI well as branch collection to equip millions of Indians The Comptroller and Auditor Telangana Gig and Platform changed, our active delivery crease a delivery partner’s Mumbai, November 29 facilities with one physical card for General of India (CAG) on Workers Union has written a executives in Hyderabad are delivery radius and the Fintech BharatPe, which is look all their everyday needs — Monday said that Centre for De letter to Swiggy’s co now earning 30 per cent number of orders. The ing to grow its loan book to $ 1 from travel in metro, rail velopment of Telematics (CDoT) WX founder Srihasha Majety de higher per hour than what worker union claimed that billion by March 2023, is set to consumer side. ways, Stateowned bus ser and Centre for Development of The card can be used for manding better payouts for they did a year ago. the increased radius results soon launch a gold loan vices, toll & parking charges Advanced Computing (CDAC), travel in metros, buses the delivery partners. “Delivery executives in Hy in more travel expenses for product for merchants and is Supply-chain financing to payments at offline mer under the Ministry of Electronics However, in its response derabad earn amongst the them. upbeat about its supply chain In an interaction with Business- chant stores, online shop and trains, at ATMs and and Information Technology to BusinessLine , Swiggy highest in the country. Un Commenting on the let finance business. Line , Sharma said supply chain ping and more. to pay toll and parking (MeitY) have disbursed ad hoc bo denied the union’s claim fortunately, a few delivery ter, Shaik Salauddin, “The acceptance of small finance has huge potential The first phase of rollout charges and for nus amounting to ₹56.60 lakh and said that delivery part executives have chosen to Founder State President Tel merchants and selfemployed given the requirement for is being launched in collab purchases at stores and ₹97.70 lakh, respectively dur ners are currently earning oversee these facts and mis angana, Telangana Gig and persons towards taking gold shortterm credit amongst mer oration with Hyderabad ing two financial years, which the highest they have ever represent their earnings Platform Workers Union, loans is well established. We are chants and small businesses Metro Rail, Ahmedabad need to be recovered from the been. with Swiggy. We are making said “the company should disrupting the market through and said the company plans to Metro and the Delhi Airport cial inclusion and accessibil employees concerned or Starting November 29, the conscious efforts in helping engage directly with the our distribution, pricing, wide scale it up in the coming year. Express Line. ity for all. We are glad to be a regularised. union members in Hydera them understand how their union, instead of ignoring presence and our existing rela “Through supply chain fin The card linked to the part of the NCMC initiative “CDoT disbursed adhoc bonus bad are wearing black bands earnings have in fact only our demands. Delivery tions we have with the mer ance, we will address the flow Paytm Wallet can be used for and will continue to work amounting to ₹56.60 lakh for (black badge protest) as grown,” a Swiggy spokesper workers from other regions chants. between the merchant and his all transactions of a user — towards the digitisation of 201516 and 201819, even though they continue to deliver or son said. like Gujarat, Mumbai, Kolk “We are supplier. We from travel in metros, buses the transit ecosystem in the no orders were issued by the Min ders. ata, Chennai are also ready already pro are going up to and trains, to pay toll and country while driving the istry of Finance for payment of ad The letter also noted that Union demands to join the protest, if our de cessing pay the manufac parking charges, payment at adoption of smart mobility hoc bonus to the employees of close to 10,000 delivery The union demands include mands are not met.” ments for turer and fin offline and online stores to solutions.” Autonomous Bodies (ABs). This workers (both fulltime and a minimum base pay is ₹35, Postpandemic, change in them and they ancing each withdrawal of cash from The launch of the Transit resulted in irregular payment parttime) in Hyderabad are increase batch order pay to pay structure had instigated trust us to leg of the sup ATMs. Card is aligned with the which needs to be recovered from expected to go on an indef ₹20, reintroduce customer strikes against Swiggy in keep the gold safe,” said Nishit ply chain. So that itself could be firm’s initiatives to bring the concerned employees or reg inite strike and boycott de doorstep delivery charge of September 2020 and since Sharma, Chief Revenue Officer, a huge market of receivables, Financial inclusion drive out products that make ularised,” a CAG report tabled in livery work, if their de ₹5, increase distance pay then delivery workers’ de BharatPe. financing, invoice discount Users can top up the Paytm banking and transactions the Rajya Sabha said. mands are not met by from existing ₹6 per km to mand for better payout has The fintech has already tied ing,” Sharma said, adding that Wallet account to use the seamlessly operable for all Similarly, CDAC disbursed ad December 5. ₹12, monthly rating incent remained constant. up with NBFCs for gold loans BharatPe’s existing ecosystem card and do not need to Indians. hoc bonus amounting to ₹97.70 The union has also given a ive should be reintroduced, “Continued increase in and will be providing doorstep has about 75 lakh merchants. maintain any separate ac ‘Paytm Transit Card’ lakh for 201516 and 201617, even copy of the letter to L super zones should be re the price of petrol, and as well as branch collection “Over the lifetime, we have count. would help promote Na though no orders were issued by Chaturvedi, Joint Commis moved to reduce delivery ra other essential commodit facilities. given loans to about 3.5 lakh Satish Gupta, MD & CEO of tional Common Mobility the Ministry of Finance for pay sioner of Labour Ranga dius, stop assignment of or ies is impacting the earn “We are conducting various merchants and there is a lot of Paytm Payments Bank said, Card (NCMC) and the Digital ment of adhoc bonus to the em Reddy Zone. der to third parties like ings of delivery workers. In pilots and once we have sorted scope within this ecosystem as “The launch will drive finan India initiative further. ployees of Abs, it said. spite of working for 1215 the flows well and we are ready well to lend. hours, we are unable to for a multicity launch, we will Getting from $ meet basic needs like house do that quickly. It is right 200 million to $ rents, children’s school fees around the corner,” Sharma 1 billion is very which are rising day by day,” said. achievable,” he the union wrote in the latest BharatPe also plans to raise said. letter. about $80 million to $100 mil The average In response, Swiggy’s lion in debt over the next six to ticket size of spokesperson said they had nine months to grow its loan merchant loans introduced a fuel incentive book further. is about earlier this year, which is in Unity Small Finance Bank — ₹70,000 to dexed to the changing its joint venture with Centrum ₹75,000 on a Delivery workers from other regions like Gujarat, Mumbai, Kolkata, prices and factors in the in Group — will also provide more daily instal Chennai are also ready to join the protest creased fuel expenses. coverage on the merchant and ment basis.
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‘NBFCs assets to improve on tailwinds’
Crisil sees AUMs of shadow banks growing by 810 per cent to ₹30lakh crore in FY23
Crisil sees AUMs of shadow banks and gold loans will be the mate credit losses are not least impacted, unse expected to change signi PUBLIC NOTICE growing by 810 per cent to cured, and micro, small ficantly. NOTICE REGARDING Lost Certificates and medium enterprises CRISIL said the perform of Ultra Tech Cement Ltd. Reg Of₹30lakh crore in FY23 fice B Wing, Ahura Centre, 2nd loans will bear the brunt. ance of the restructured Floor, Mahakali Caves Road, And- OUR BUREAU loans. It assessed that GN book is a key heri East, Mumbai, Maharashtra, Mumbai, November 29 PAs are expected to in Stressed assets monitorable. 400093. I K G LEELA W/O .Late. K MGurupadappa Residing at No. 119, Assets under manage crease, mostly because of The agency expects GNPAs Overall, fragile assets Doddapet Tiptur Rural, ment (AUM) of nonbank the revision in recogni to increase by 25300 (GNPAs + slippages due to Kotanayakanahalli ,Tumkur,Karnataka 572201.The registered holder of ing financial companies tion norms and, to some basis points (bps) based the impact of regulatory the under mention shares held in (NBFCs) is set to grow 810 extent, due to slippages on asset class because of norms and from the re the above said company,hereby give per cent to about ₹30 from the restructured the new recognition structured book) are seen notice cates in respect of the sharesthat the shares certifilakh crore in FY2023, rid book. norm. However, the in at ₹1.6lakh crore, tan have been untraceable and we have ing on two tailwinds — Gurpreet Chhatwal, crease in GNPAs because tamount to 56 per cent of applied to the company for issue of duplicate certificates. Any perimproving economic Managing Director, CRISIL of the revised recognition the industry’s AUM as of son having claim in respect of the activity, and strengthened Ratings Ltd, said: “Many norms will be largely an March 2022. said share should lodge such claims with the Company at its balance sheet buffers, ac NBFCs have built higher accounting impact be This does not factor in above referred address within 15 cording to CRISIL Ratings. liquidity, capital and pro cause, given the improv the impact of a third wave days from this date,else the CompaThis compares with an visioning buffers in the ing economy, the credit of Covid19, especially the ny will proceed to issue duplicateshares certificates and no further estimated growth of 68 recent past. profiles of borrowers are justdiscovered Omicron claim will be entertained by the per cent this fiscal (to “That, combined with not expected to deterior variant, which is a risk Company thereafter. 1,Folio Number K75612 Certificates no 158551,Dist about ₹27 akh crore) and improving economic ate. Consequently, ulti factor. no from 37511833 to 37511885 Qty 2 per cent last fiscal activity, puts them 53 Sd/ K G Leela Place :Tiptur (about ₹25lakh crore in a comfortable AUM outstanding). position to capital However, the credit rat ise on growth op ing agency cautioned that portunities. How NBFCs face three head ever, competition winds — competition from banks will in from Banks, expected in tensify.” crease in gross nonper Asset quality wor forming assets and fund ries have also mani ing access, which is yet to fested due to recent fully normalise. regulatory clarifica The agency noted that tions, and uncer intensifying competition tainty over the per from banks, flush with li formance of the quidity, that have restructured book. sharpened focus on retail While home loans
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