tag:blogger.com,1999:blog-76940740237996869562024-03-13T03:56:26.246+05:30Advanced Strategies for Medium Small & Micro Enterprises (MSMEs)rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-7694074023799686956.post-35780756715518336052018-04-05T16:31:00.002+05:302018-04-05T16:35:04.808+05:30Please cooperate with our market research internship project<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div style="line-height: 100%; margin-bottom: 0in;">
Dear Sirs / Madam<br />
<br />
<b><u>Appeal to industry,
business enterprise & CSR initiatives to cooperate with our
market research summer internship project 2018.</u></b> </div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Background</b></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Advanced Strategies
Pvt. Ltd.</b> - Business Counsellors and Strategy Consultants for
Market Expansion of Medium, Small and Micro Enterprises (MSMEs). The
companies web site is at <a href="http://www.astrategies.com/" target="_blank">www.astrategies.com</a></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>EWI Development
Initiative Foundation</b> is Sec 8 Company - and Not For Profit -
EastWestInterconnect : Helping create sustainable rural livelihoods
in the backward districts of North East India. The companies web site
is at <a href="http://www.eastwestinterconnect.org.in/" target="_blank">www.eastwestinterconnect.org.in</a></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
Both have their
registered office in Mumbai and Branch in Pune. The companies have
been working in the North East Region of India as well.</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Objective</b></div>
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<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
Without doubt,
enterprise are managing themselves in turbulent times. To stay afloat
change, reorientation and market expansion is essential.</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
Our interns are
studying the business climate and how businesses are faring. Also
what challenges they face, opportunities they see and what is being
done to take them forward. We will come out with a report of our
findings and interpretations after this summer 2018, which we will
share with participants and help grow your business, if you so
desire.</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Your cooperation</b></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
May we humbly
request your kind cooperation?</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
The interns have
some survey questions which we would like you to respond to. This
may be on email, on telecon or face to face meetings.
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>The Scope of the
survey:</b></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Regions</b></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Western Region </b>:
Western India and Konkan Coast - Maharashtra, Gujarat, Karnataka and
Goa</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>North East Region</b> :
North East India - 8 states - Arunachal Pradesh, Assam, Manipur,
Meghalaya, Mizoram, Nagaland, Sikkim and Tripura</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Sectors</b></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
a) R<b>ural Empowerment
and Livelihood Creation</b> - Social Enterprise Development
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
1. Agricultural &
Farming - Agro - bamboo, agriculture, horticulture, sericulture,
herbs, Animal husbandry - pigs & cattle, Poultry, Fish farming &
Apiaries</div>
<div style="line-height: 100%; margin-bottom: 0in;">
2. Food Processing</div>
<div style="line-height: 100%; margin-bottom: 0in;">
3. Handicrafts and
Handloom
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
4. Village - Eco -
Rural Tourism</div>
<div style="line-height: 100%; margin-bottom: 0in;">
5. Village Primary
Education</div>
<div style="line-height: 100%; margin-bottom: 0in;">
6. Rural Higher
Education & skills development centers
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
7. Rural Health-care
clinics and primary health centers
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
8. Rural Power from
Grid and Renewable Solar & Hydro
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
9. Water and Waste
management</div>
<div style="line-height: 100%; margin-bottom: 0in;">
10. Micro Finance</div>
<div style="line-height: 100%; margin-bottom: 0in;">
11. Small businesses
Enterprises to be started up such as - Food Biscuits, Cement Bricks,
Handicrafts, Handlooms, Tailoring Shops, Mobile Phone Services,
Chemist Shop, Electricians Shop, Retail Shop-Grocery, Laundry /Dhobi,
Fish/Meat/Poultry Shop, Cyber Café, Travel and Tourism booth,
Electronics-repairing, Dairy Shop, Restaurant, low cost women hygiene
products</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
b) <b>Urban Enterprise
Development</b></div>
<div style="line-height: 100%; margin-bottom: 0in;">
1. Township
Development & Smart Cities
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
2. Service Sector
Enterprises - Hospitality – Highway Rest Areas, Restaurants,
Catering & Canteens, Resorts & SPAs, 3/4 star hotels, Music,
Health-care-Hospitals-Clinics, Sports facilities & recreation,
Education: K-12 Schools, Working Women’s Hostels</div>
<div style="line-height: 100%; margin-bottom: 0in;">
3. Logistics: -
Truck Fleet Stations (Hubs) - Warehouses & Cold Storages</div>
<div style="line-height: 100%; margin-bottom: 0in;">
4. Retailing:
Grocery Stores</div>
<div style="line-height: 100%; margin-bottom: 0in;">
5. Low cost
computing / IT – suitable for small enterprises</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
c) <b>Finance</b></div>
<div style="line-height: 100%; margin-bottom: 0in;">
1. MSME Finance</div>
<div style="line-height: 100%; margin-bottom: 0in;">
a. Commercial
Investments - loans, NBFC, startup/angel, pvt equity etc.</div>
<div style="line-height: 100%; margin-bottom: 0in;">
b. Social / Impact
Investments - CSR, Grants, Donations etc</div>
<div style="line-height: 100%; margin-bottom: 0in;">
2. Vendor / supplier
/ trade / working capital finance
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
Thank you for your
kind attention and we look forward to your cooperation.
</div>
<div style="line-height: 100%; margin-bottom: 0in;">
<br /></div>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Devavrat Bhatia</b></div>
<b>
</b>
<div style="line-height: 100%; margin-bottom: 0in;">
<b>Associate for
Business Development</b></div>
<style type="text/css">p { margin-bottom: 0.1in; line-height: 120%; }</style></div>
rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-3801510787330290772016-06-12T22:33:00.000+05:302016-06-20T09:48:15.125+05:30Please cooperate with our market research internship project<div dir="ltr" style="text-align: left;" trbidi="on">
Appeal to industry, business enterprise & CSR initiatives to cooperate with our market research internship project.<br>
<br>
Advanced Strategies Pvt. Ltd. - Business Counsellors and Strategy Consultants for Market Expansion of Medium, Small and Micro Enterprises (MSMEs). The companies web site is at www.astrategies.com<br>
<br>
EWI Development Initiative Foundation is Sec 25 Company - and Not For Profit - Focused on North East India Backward Districts Area Development, Rural Empowerment, Entrepreneurship and Livelihood Creation. The companies web site is at www.eastwestinterconnect.org.in<br>
<br>
Both have their registered office in Mumbai and Branch in Pune. The companies have been working in the North East Region of India as well.<br>
<br>
Pune University Department of Management Science (PUMBA) students are our interns for Summer June - July 2016. Ms Sarita Bayas is from Aurangabad, Ms Ankita Saindane is from Jalgaon, both from Maharashtra, and Mr Bishal Debnath is from Agartala in Tripura. <br>
<br>
They are studying commercial and social enterprise growth potential and market linkages. Their focus is on Mumbai, Pune, Aurangabad and Jalgaon and surrounding areas. In the North East, they are studying the state of Tripura.<br>
<br>
May we humbly request your kind cooperation?<br>
<br>
They have some survey questions which we would like you to respond to. This may be on email, on telecon or face to face meetings. The feedback will help us develop an analysis with regard to the growth prospects of commercial and social enterprise. We would be pleased to share the findings with you once the internship is completed. Besides, <b>we would be pleased to partner with your organisation for its growth</b>, particularly into the NorthEast India Markets. This may be discussed once the survey is complete and we have a better understanding of your own objectives.<br>
<br>My presentation at the Pragati Maidan on 13.02.16 http://bit.ly/dne2016_start_pdf and <span style="font-family: sans-serif;">http://bit.ly/dne2016_start regarding startups and entrepreneurship development in the NorthEast.</span></div><div dir="ltr" style="text-align: left;" trbidi="on"><span style="font-family: sans-serif;"><br></span></div><div dir="ltr" style="text-align: left;" trbidi="on">
The questions would be customized for different market segments. Some examples are<br>
<br>
Banks for NER - <a href="http://bit.ly/ewif_banks" target="_blank">http://bit.ly/ewif_banks</a><br>
MSME India Presence & Expansion<a href="http://bit.ly/ewif_sme" target="_blank"> http://bit.ly/ewif_sme</a><br>
Farmers Questions (India) <a href="http://bit.ly/farmersquestions" target="_blank">http://bit.ly/farmersquestions</a><br>
Questions for NER Politicians <a href="http://bit.ly/ewifquestions1" target="_blank">http://bit.ly/ewifquestions1</a><br>
Questions for Maharashtra Politicians <a href="http://bit.ly/asquestions1" target="_blank">http://bit.ly/asquestions1</a><br>
<br>
Thank you for your kind attention and we look forward to your cooperation. Email <a href="mailto:interns.bee@gmail.com" target="_blank">interns.bee@gmail.com</a> and/or call 022-22672561<br>
<br>
Rajiv Bhatia<br>
Director</div>
rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-3048248322897844062015-05-11T13:00:00.000+05:302015-05-11T13:00:30.764+05:30Maharashtra MSME Impetus<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://1.bp.blogspot.com/-Mck91Ul_WqM/VVBaNXzQyBI/AAAAAAAAAlI/fnEo0j2E8EA/s1600/indianexp%2B20150510.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://1.bp.blogspot.com/-Mck91Ul_WqM/VVBaNXzQyBI/AAAAAAAAAlI/fnEo0j2E8EA/s1600/indianexp%2B20150510.jpg" /></a></div>
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rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-48594163145018115372014-08-13T09:06:00.001+05:302014-08-13T09:06:28.073+05:30Small Banks Turn to Open Source Solutions to Cut Costs <div dir="ltr" style="text-align: left;" trbidi="on">
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rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-10984090199255663502014-06-20T22:03:00.004+05:302014-06-20T22:03:43.676+05:30CII Western Region MSME Sub Committee meeting<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://4.bp.blogspot.com/-GGsbrBpnoCk/U6RiNkanIRI/AAAAAAAAAew/zJmwh9spKzs/s1600/BqkSCvQCYAIXodk.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://4.bp.blogspot.com/-GGsbrBpnoCk/U6RiNkanIRI/AAAAAAAAAew/zJmwh9spKzs/s1600/BqkSCvQCYAIXodk.jpg" height="225" width="400" /></a></div>
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<span class="fbPhotosPhotoCaption" id="fbPhotoSnowliftCaption" tabindex="0"><span class="hasCaption">CII Western Region MSME Sub Committee meeting Chaired by Mr Nandakumar of Chemtrols Industries Ltd. Mumbai</span></span><span class="fbPhotoTagList" id="fbPhotoSnowliftTagList"><span class="fcg"> </span></span></div>
rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-60494548008165860902013-12-23T15:38:00.002+05:302013-12-23T15:38:15.139+05:30Merry Christmas & A Happy New Year 2014<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-7iIrgDUEtvI/UrgLhotLjVI/AAAAAAAAAbI/1L1dPDXyNhQ/s1600/Christmas+Card+2014.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="http://4.bp.blogspot.com/-7iIrgDUEtvI/UrgLhotLjVI/AAAAAAAAAbI/1L1dPDXyNhQ/s400/Christmas+Card+2014.jpg" width="360" /></a></div>
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rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-20803151678377396552013-12-12T08:06:00.003+05:302013-12-12T08:06:39.642+05:30Is There Hope for Small Firms, the Have-Nots in the World of Big Data?<div dir="ltr" style="text-align: left;" trbidi="on">
Should big companies assist small companies by providing them with inexpensive access to data?<br />
<br />
It’s in the chains’ interest to keep the small firms alive: We doubt
that consumers or grocery chains would want the artisan bakers, chefs,
and yogurt makers to disappear, bulldozed away by the power of big data. ... read more at <a href="http://blogs.hbr.org/2013/12/is-there-hope-for-small-firms-the-have-nots-in-the-world-of-big-data/" target="_blank">link</a></div>
rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-30556000202188595982013-12-03T13:03:00.000+05:302013-12-03T13:03:12.367+05:30Welcome to the world of Entrepreneurship.<div dir="ltr" style="text-align: left;" trbidi="on">
<ul style="text-align: left;">
<li>Moses fled Egypt to become a shepherd in Sinai </li>
<li>Jesus roamed the land of Israel to preach to the masses </li>
<li>Buddha was a wandering Monk </li>
<li>Mohammed, a travelling merchant who often slept and meditated in remote caves <br /> </li>
<li>It was in their separation from home, family, friends, community and comfort zone that these individuals found 3 things - God, Themselves and a New Religion <br /></li>
<li>Explore the biographies of new change makers ...leaders, artists, musicians, scientists and entrepreneurs ... people who brought something new and innovative to the world like .....Mark Zuckerberg, Albert Einstein, Steve Jobs, Oprah, Marie Curie, John Lennon, Madonna, Stephen Colbert, Coco Chanel, Bobo, Spielberg ...<br /></li>
<li>They all went through a similar process, a journey of separation from forces in their lives that limited their growth and expression, this process like a right of passage, an initiation.<br /></li>
<li>An initiation is a journey of growth, discovery, and transformation that allows you to find out who you are, where you are going and what you've got to offer to this world.<br /></li>
<li>Welcome to the world of Entrepreneurship.</li>
</ul>
</div>
rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-72527782913673174902013-10-31T14:40:00.002+05:302013-10-31T14:40:24.093+05:30Compliments of the season ! A very Happy Diwali & Prosperous New Year to all !<div dir="ltr" style="text-align: left;" trbidi="on">
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rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-48235109260430697072013-08-31T14:05:00.001+05:302013-08-31T14:05:24.742+05:30Bank Lending to Service Sector SMEs beginning to look up<div dir="ltr" style="text-align: left;" trbidi="on">
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rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-66625560510020275132013-06-26T12:27:00.001+05:302013-06-26T12:27:17.097+05:30Tech Innovation Opportunity<div class="separator" style="clear: both; text-align: center;">
<a href="http://epaper.timesofindia.com/Default/Layout/Includes/ETNEW/ArtWin.asp?From=Archive&Source=Page&Skin=ETNEW&BaseHref=ETM%2F2013%2F06%2F25&ViewMode=GIF&PageLabel=18&EntityId=Ar01800&AppName=1" target="_blank"><img border="0" src="http://3.bp.blogspot.com/-AFYSeyyfBTs/UcqQmEc59ZI/AAAAAAAAAVU/3j2NoTsOLas/s1600/Blog.jpg" height="640" width="542" /></a></div>
<br />rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-44121765099795718982012-12-22T13:46:00.004+05:302012-12-22T13:46:26.582+05:30Merry Christmas & A Happy New Year 2013 !<div dir="ltr" style="text-align: left;" trbidi="on">
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rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-89448209490634404832012-12-13T15:52:00.002+05:302012-12-13T15:53:23.871+05:30Getting Things Done -> Action Management System -> Total Relaxed Organisation -> Cool!<center><iframe width="420" height="315" src="http://www.youtube.com/embed/MVH6dP94R-k" frameborder="0" allowfullscreen></iframe></center>
rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-62791311417693067292012-12-13T12:51:00.001+05:302012-12-13T12:52:37.094+05:30Cloud Computing<center><iframe width="420" height="315" src="http://www.youtube.com/embed/46jgtxhWHLo" frameborder="0" allowfullscreen></iframe></center>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-19826836930458779192012-06-04T14:29:00.000+05:302012-06-04T14:29:06.551+05:30Fund Rush At Startups!<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://1.bp.blogspot.com/-vtQa46NNa4A/T8x4vrhMLBI/AAAAAAAAAPI/TKjxRtbmWec/s1600/FundRushatStartups+Belies+Slowdown.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="428" src="http://1.bp.blogspot.com/-vtQa46NNa4A/T8x4vrhMLBI/AAAAAAAAAPI/TKjxRtbmWec/s640/FundRushatStartups+Belies+Slowdown.jpg" width="640" /></a></div>
<br /></div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-23855488821581445062012-02-17T09:12:00.002+05:302012-02-17T09:15:15.291+05:30OTM Mumbai - MSME opportunities in Travel and Tourism<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="http://epaper.timesofindia.com/Repository/getimage.dll?path=TOIM/2012/02/17/10/Img/Ar0100001.png" target="_blank"><img border="0" height="302" src="http://epaper.timesofindia.com/Repository/getimage.dll?path=TOIM/2012/02/17/10/Img/Ar0100001.png" width="400" /></a></div><br />
</div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-76558338613233950672011-07-26T10:54:00.003+05:302011-07-26T11:27:55.479+05:30Defence Offset - emerging opportunities for MSMEs<div dir="ltr" style="text-align: left;" trbidi="on"><b><a href="http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=ETNEW&BaseHref=ETM%2F2011%2F07%2F26&ViewMode=GIF&PageLabel=10&EntityId=Ar01000&AppName=1" target="external">Defence Offset</a></b><br />
<h2><span style="text-align: justify;">Cos Fortify Talent Base for Foray Into Defence </span></h2><h3><span style="text-align: justify;">Manufacturing-focused companies scout for CEOs, chief strategy officers, senior design engineers and heads of sales; offer over 200% raise to navigate the lucrative sector </span></h3><h3><span style="text-align: justify;"> India Defence Offset Policy Explained <a href="http://www.ciidefence.com/defence_offset_policy.asp?id=6" target="external">Click here</a></span></h3><h3><span style="text-align: justify;">Indian Ministry of Defence <a href="http://www.mod.nic.in/" target="external">click here </a></span></h3></div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-74092535143266078982011-03-01T13:02:00.000+05:302011-03-01T13:02:55.024+05:30Indian Budget 2011 - salient aspects<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: left;"><u><b>Economy overview </b></u></div><ul style="text-align: left;"><li>India has made a quick and strong turnaround from the slowdown caused by the global and domestic challenges of recent years. GDP growth for 2010-11 has been estimated at 8.6% during 2010-11, (up from 8% in 2009-10). </li>
<li>The GDP growth was fairly broad-based, with agriculture, industry and services growing at 5.4%, 8.1% and 9.6%, respectively, and is set to revert to its pre-crisis trajectory of 9% in FY12 </li>
<li>The fiscal deficit for the current FY will fall to 4.8%, against the budgeted 5.5% on account of a number of windfall gains such as the disinvestment proceeds and 3G revenue spectrum auctions. For FY 2011-12, the fiscal deficit is projected at 4.6%of GDP. In the Medium Term Fiscal Policy Statement presented by the Finance Minister today, the rolling targets for fiscal deficit are placed at 4.1% for 2012-13 and 3.5% for 2013-14. </li>
<li>Inflation remains an area of concern with average inflation in primary articles being reported at 18% during the period April to December 2010 as compared to 10% during the corresponding period in previous year </li>
<li>Exports have grown at 29.4% to reach USD 184.6 billion while the imports bill at USD 273.6 billion grew at 17.6%. Forex reserves increased from USD 279.6 billion at the end of April 2010 to USD 297.3 billion at the end of December 2010. While this year brought challenges, India is moving ahead steadily with sustained momentum on the path of fiscal consolidation and high economic growth.</li>
</ul><div style="text-align: left;"><u><b>Regulatory Measures </b></u></div><ul style="text-align: left;"><li>Further liberalisation of Foreign Direct Investment policy on the anvil. </li>
<li>Foreign Investors meeting KYC norms to be allowed to invest in equity schemes of SEBI registered Mutual Funds. </li>
<li>FII investment ceiling in corporate bonds of infrastructure companies raised from USD 5 billion to USD 25 billion. FIIs would also be permitted to invest in unlisted bonds with a minimum lock-in period of three years (inter-se trading amongst FIIs to be allowed during the lock-in period). </li>
<li>Financial Sector Legislative Reforms Commission to submit recommendations within 24 months on streamlining the financial sector laws, rules and regulations. Other proposed legislative reforms in Financial Service sector, include : </li>
<li>The Insurance Laws (Amendment) Bill, 2008; </li>
<li>The Life Insurance Corporation (Amendment) Bill, 2009; </li>
<li>The revised Pension Fund Regulatory and Development Authority Bill, first introduced in 2005; </li>
<li>Banking Laws Amendment Bill, 2011; </li>
<li>Bill on Factoring and Assignment of Receivables; </li>
<li>The State Bank of India (Subsidiary Banks Laws) Amendment Bill, 2009; and </li>
<li>Bill to amend RDBFI Act 1993 and SARFAESI Act 2002 </li>
<li>RBI Guidelines for private banking licenses to be announced by March 31, 2011. </li>
<li>Companies Bill 2009 to be introduced in the current Parliament session. </li>
<li>Capital investment in the creation of modern storage capacity will be eligible for viability gap funding scheme of the Ministry of Finance. </li>
<li>It is also proposed to recognize cold chains, post-harvest storage and fertilizer industry as an infrastructure sub-sector. </li>
<li>State Governments to review and enforce a reformed Agriculture Produce Marketing Act to facilitate retailers integrating their enterprises with the farmers. </li>
<li>A Group of Ministers set up to consider issues relating to reconciliation of environmental concerns to suggest changes in the existing statutes, rules, regulations and guidelines. </li>
<li>States to modernize their stamp and registration administration and roll out e-stamping in the next three years.</li>
</ul><div style="text-align: left;"><br />
<u><b>Direct Tax Proposals </b></u><br />
<br />
<u><b>Corporate Tax - Rates </b></u></div><ul style="text-align: left;"><li>Corporate Tax rates to remain unchanged. </li>
<li>Surcharge on tax to be reduced from 7.5% to 5%, in case of domestic company and 2.5% to 2% in the case of foreign company. </li>
<li>The effective Minimum Alternative Tax (‘MAT’) rate to be increased from 19.93% to 20.00% in case of domestic companies and from 19% to 19.44% in case of foreign companies. </li>
<li>The dividend received by domestic company from its overseas subsidiary is to be taxed at the rate of 15%. The income shall be computed without any deduction of expenses incurred for earning dividends. </li>
<li>Limited Liability Partnerships to pay Alternate Minimum Tax at effective rate of 18.5% with credit available upto 10 years.</li>
</ul><div style="text-align: left;"><br />
<u><b>Tax holidays </b></u></div><ul style="text-align: left;"><li>Developers of Special Economic Zone (‘SEZ’) and SEZ units to pay MAT effective from FY 2011-12. </li>
<li>Developers of SEZ to pay Dividend Distribution Tax (‘DDT’) on dividends declared, distributed or paid on or after June 01, 2011. </li>
<li>Tax holiday window extended to units engaged in power generation, distribution, transmission, substantial renovation and modernization till March 31, 2012. </li>
<li>No extension of existing tax holiday to STPI or EOU after March 31, 2011. </li>
<li>Scope of investment linked deductions to specified businesses widened to include housing projects under notified affordable housing scheme and production of fertilizer in India. </li>
<li>Loss from the business of hotel and hospital (eligible for investment linked incentive as specified business) to be set off against income from hotels and hospitals not eligible for incentive. </li>
<li>No deduction to commercial production of mineral oil for blocks awarded under NELP -IX or under any law </li>
<li>Weighted deduction to be increased from 175% to 200% for contribution to National Laboratory, University, IIT or a specified person.</li>
</ul><div style="text-align: left;"><br />
<u><b>Infrastructure Debt funds </b></u></div><ul style="text-align: left;"><li>Income of notified 'Infrastructure debt funds' to get exemption. </li>
<li>Interest income to a non-resident from 'Infrastructure debt funds' to be taxed at 5% (plus applicable surcharge and Education cess) as against tax rate of 20% applicable on interest income to non-residents. Interest income subject to withholding tax of 5%.</li>
</ul><div style="text-align: left;"><br />
<b><u>Notified Jurisdictional Area </u></b></div><ul style="text-align: left;"><li>Central Government to notify overseas jurisdiction not cooperating in exchange of effective information. </li>
<li>Transfer pricing regulations to apply on transactions with any person located in such area. </li>
<li>No deduction of any payment to any financial institution unless assessee authorizes Board or any tax authority to seek information from the financial institution. </li>
<li>No deduction for any expenses (including depreciation) arising from the transaction with entities located in notified jurisdictional area unless assessee furnishes prescribed particulars. </li>
<li>Receipts from any person located in notified in such jurisdictional area to be deemed as income unless the assessee satisfactorily explains the source. </li>
<li>Any payment, chargeable under the Act, made to a person located in notified jurisdictional shall suffer withholding tax rate at the higher of normal tax rate or 30%.</li>
</ul><div style="text-align: left;"><br />
<u><b>Transfer Pricing Regulations </b></u></div><ul style="text-align: left;"><li>Fixed variation of +-5% presently available to international transactions against the arm’s length price replaced with a percentage as may be prescribed. </li>
<li>TPO’s power widened to examine all international transactions whether covered under the reference from the assessing officer or not. </li>
<li>Due date for Corporate tax returns involving international transactions extended to November 30th from the present date of September 30th.</li>
</ul><div style="text-align: left;"><br />
<u><b>Personal Tax </b></u></div><ul style="text-align: left;"><li>No change in the personal tax rates except that the maximum amount not chargeable to tax increased from INR 160,000 to INR 180,000. </li>
<li>The age limit for Senior Citizen reduced from 65 years to 60 years. </li>
<li>A new category of tax payer introduced- Very senior citizens (80 years or above). Basic exemption limit for very senior citizen is set at INR 500,000. </li>
<li>An additional deduction of INR 20,000 (over and above the existing limit of INR 1 lac) for investment in notified long-term infrastructure bonds extended for one more year. </li>
<li>No tax return filing requirement for such class or classes of persons as may be notified by the Central Government subject to fulfillment of specified conditions. The said amendment will take effect from 1st June 2011. </li>
<li>Employer contribution towards pension scheme of Central Government has been excluded from the deduction limit of INR 100,000. </li>
</ul><div style="text-align: left;"><br />
<u><b>Others </b></u></div><ul style="text-align: left;"><li>Definition of charitable purpose amended to increase the monetary limit for advancement of any other object of general public utility from INR 10 Lacs to INR 25 Lacs. </li>
<li>In case of money market mutual fund or a liquid funds rate of tax on income distributed to unit holders has been increased from 25% to 30% and from 20% to 30% in case of other debt funds. </li>
<li>Settlement Commission scope widened to cover search cases as well. </li>
<li>Liaison offices of foreign companies to file annual information with the tax authorities within sixty days from the end of the financial year.</li>
</ul><div style="text-align: left;"><u><b>Indirect Tax Proposals </b></u><br />
<br />
<u><b>General </b></u></div><ul style="text-align: left;"><li>No change in peak/standard rate of Customs Duty, Excise Duty and service tax. </li>
<li>Term ‘Input’, ‘Input Services’, ‘Exempted Goods’ and ‘Exempted Services’ re-defined. </li>
<li>Point of taxation rules made effective from 1.4.2011. </li>
<li>Amendment made in line with National Litigation Policy.</li>
</ul><div style="text-align: left;"><b><u>Customs </u></b></div><ul style="text-align: left;"><li>Self-assessment in the Customs Act, 1962 both for imported goods and exported goods. </li>
<li>Definition of ‘Completely Knocked Down’ added for concessional customs duty under project imports. </li>
<li>CVD on packaged software to be levied on media value, where not governed by MRP provisions. </li>
<li>BCD @2.5% levied on import of aircraft by non scheduled operators. </li>
<li>Exemption from BCD, SAD and CVD @5% on specified parts of hybrid vehicles. </li>
<li>All clearances (manufactured or traded) from SEZ to DTA exempt from SAD provided VAT/CST is not exempt. </li>
<li>Exemption from full customs duty on parts, component and accessories for manufacture of PC connectivity cables/battery chargers/hands free headphones of mobile handsets. </li>
<li>Time limit for filing of refund claim/issuance of show cause notice extended from 6 months to 1 year.</li>
</ul><div style="text-align: left;"><u><b>Central Excise </b></u></div><ul style="text-align: left;"><li>Merit rate of CENVAT for non-petroleum goods has been increased from 4% to 5%. This would impact items such as medical equipment, drugs and food products. </li>
<li>Excise duty exemption on 130 items withdrawn and 1% excise imposed subject to non-availment of CENVAT credit. </li>
<li>Full exemption from duty withdrawn on IT products such as micro processors for computers etc. The products will now be subject to 5% excise duty. </li>
<li>Duty rates on cement changed from specific rate to ad valorem. </li>
<li>Full exemption granted to equipment (air-conditioning/conveyer belt) for used for cold storage. </li>
<li>Excise duty on packaged software to be levied on media value, where not governed by MRP provisions.</li>
</ul><div style="text-align: left;"><u><b>Service Tax </b></u></div><ul style="text-align: left;"><li>Service tax imposed on following new services with effect from a date to be notified: </li>
<li>Services by air-conditioned restaurants having license to serve liquor; and </li>
<li>Short-term accommodation in hotels/inns/clubs/guest houses etc.</li>
<li>Expansion in scope of existing services, including: </li>
<li>Health Services </li>
<li>Legal Services </li>
<li>Life Insurance Services </li>
<li>Business Support Services</li>
<li>Point of Taxation Rules, 2011 effective from 1.4.2011 and corresponding alignment in Service Tax Rules. </li>
<li>Penalty provisions redefined. </li>
<li>Port, Airport and railways related exemptions provided. </li>
<li>Provisions relating to prosecution reintroduced. </li>
<li>Export & Import of Services Rules amended. </li>
<li>Modified scheme introduced to refund service tax to SEZ units and Developers.</li>
</ul><div style="text-align: left;"><u><b>Cenvat Credit </b></u></div><ul style="text-align: left;"><li>Definition of inputs and input services has been amended to exclude inputs/input services used for construction of building/civil structure, laying of foundation, etc. </li>
<li>Definition of inputs to include goods cleared for free warranty. </li>
<li>Definition of input services amended to exclude trading activity. </li>
<li>Inputs and inputs services primarily used for personal use or consumption of employees excluded. </li>
<li>Input services such as outdoor catering, health insurance, life insurance, etc. has been specifically excluded. </li>
<li>Credit required to be reversed when inputs or capital goods have been partially or fully written off in the books of accounts. </li>
<li>Definition of inputs and input services has been amended to exclude inputs/input services used for construction of building/civil structure, laying of foundation, etc. </li>
<li>Rule 6 (5) of the Credit rules has been omitted. Now the manufacturer or service provider is eligible to claim proportionate credit on all services attributable to taxable activity in terms of Rule 6(3A). </li>
<li>The amount payable on exempted services (when credit on common inputs/input services has been claimed) has been reduced from 6% to 5%. </li>
<li>The restriction on credit under Rule 6 is not applicable in case the taxable services are provided without payment of service tax to SEZ unit/zone/developer.</li>
</ul><div style="text-align: left;"><u><b>GST </b></u></div><ul style="text-align: left;"><li>Significant progression towards introduction of GST. </li>
<li>Proposal to introduce the constitution amendment bill in the current session of the Parliament. </li>
<li>Pruning of exemption a step towards GST.</li>
</ul><div style="text-align: left;"><br />
</div></div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-74603487156032430712010-12-29T17:05:00.001+05:302010-12-29T17:08:11.510+05:30Market Research Analysts Required<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/_sg7m9nqUyCA/TRsc3uZOTdI/AAAAAAAAAKg/HxHBEzCmbeE/s1600/Adv_B_R_Assts.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="http://2.bp.blogspot.com/_sg7m9nqUyCA/TRsc3uZOTdI/AAAAAAAAAKg/HxHBEzCmbeE/s320/Adv_B_R_Assts.JPG" width="320" /></a></div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-16465979317879273162010-11-02T14:42:00.002+05:302010-11-02T14:42:33.018+05:30Happy Diwali!<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/_sg7m9nqUyCA/TM_V5-HVTKI/AAAAAAAAAKE/Ol_67voo-q8/s1600/diwali_card_2010.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="242" src="http://3.bp.blogspot.com/_sg7m9nqUyCA/TM_V5-HVTKI/AAAAAAAAAKE/Ol_67voo-q8/s320/diwali_card_2010.jpg" width="320" /></a></div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-14005637221168238702010-07-12T21:45:00.000+05:302010-07-12T21:45:09.671+05:30Economic Times Monday July 12, 2010 on SMEs<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/_sg7m9nqUyCA/TDs-zBG_PvI/AAAAAAAAAJM/VZ1Qg05V5Z4/s1600/10.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="238" src="http://1.bp.blogspot.com/_sg7m9nqUyCA/TDs-zBG_PvI/AAAAAAAAAJM/VZ1Qg05V5Z4/s320/10.JPG" width="320" /></a><a href="http://1.bp.blogspot.com/_sg7m9nqUyCA/TDs-a7wwTkI/AAAAAAAAAIM/wuA-D2zhIR8/s1600/1.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://1.bp.blogspot.com/_sg7m9nqUyCA/TDs-a7wwTkI/AAAAAAAAAIM/wuA-D2zhIR8/s320/1.JPG" /></a><a href="http://2.bp.blogspot.com/_sg7m9nqUyCA/TDs-d22NrcI/AAAAAAAAAIU/3nVHKcI6cuI/s1600/2.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://2.bp.blogspot.com/_sg7m9nqUyCA/TDs-d22NrcI/AAAAAAAAAIU/3nVHKcI6cuI/s320/2.JPG" /></a><a href="http://3.bp.blogspot.com/_sg7m9nqUyCA/TDs-jOZdubI/AAAAAAAAAIk/i03podS6qc0/s1600/4.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/_sg7m9nqUyCA/TDs-jOZdubI/AAAAAAAAAIk/i03podS6qc0/s320/4.JPG" /></a><a href="http://3.bp.blogspot.com/_sg7m9nqUyCA/TDs-qqBPcTI/AAAAAAAAAI0/BM_JG0xGBG0/s1600/6.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/_sg7m9nqUyCA/TDs-qqBPcTI/AAAAAAAAAI0/BM_JG0xGBG0/s320/6.JPG" /></a><a href="http://4.bp.blogspot.com/_sg7m9nqUyCA/TDs-uqCovvI/AAAAAAAAAI8/cr9WcCtpBMQ/s1600/8.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://4.bp.blogspot.com/_sg7m9nqUyCA/TDs-uqCovvI/AAAAAAAAAI8/cr9WcCtpBMQ/s320/8.JPG" /></a><a href="http://2.bp.blogspot.com/_sg7m9nqUyCA/TDs-w5ttdQI/AAAAAAAAAJE/5lRPDsc4ARo/s1600/9.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://2.bp.blogspot.com/_sg7m9nqUyCA/TDs-w5ttdQI/AAAAAAAAAJE/5lRPDsc4ARo/s320/9.JPG" /></a></div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-69808586284823920302010-07-08T12:35:00.002+05:302010-07-08T12:35:48.219+05:30Malaysia trade pact by Dec 2010<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/_sg7m9nqUyCA/TDV4t3xmaSI/AAAAAAAAAIE/gfSetDz-96Y/s1600/news.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://1.bp.blogspot.com/_sg7m9nqUyCA/TDV4t3xmaSI/AAAAAAAAAIE/gfSetDz-96Y/s320/news.JPG" /></a></div>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-48488404326642201882010-06-24T09:19:00.003+05:302010-06-24T09:21:50.775+05:30ASEAN offers on services poor - India<object data=http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=ETNEW&BaseHref=ETM%2F2010%2F06%2F24&ViewMode=GIF&GZ=T&PageLabel=13&EntityId=Ar01304&AppName=1 height="600" width="300"> <embed src=http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=ETNEW&BaseHref=ETM%2F2010%2F06%2F24&ViewMode=GIF&GZ=T&PageLabel=13&EntityId=Ar01304&AppName=1 height="600" width="300"> </embed> Error: Embedded data could not be displayed. </object>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-58211622900762500402010-06-17T18:01:00.002+05:302010-06-17T18:01:21.646+05:30Help us try and solve our car parking problemsIncrease in purchasing power has resulted in an exponential growth in demand for, and the use of LCVs & Two-wheelers. This growth has caused an equal demand for parking spaces. Close to eight lakh cars are sold in India every year, growing at an average of 10% p.a. Each year five million two-wheelers are being added at an astounding 15%. Though the growth reflects the growing wealth of Indians, both material and monetary, cities are rapidly losing comfortable space in which to move about. What’s more, the problem has now shifted into tier II and tier III towns where infrastructure development is still weak.<br />
<br />
Advanced Strategies (<a ,="" href="http://www.astrategies.com/astrategies.pdf" target="external">www.astrategies.com/astrategies.pdf</a>) and the Abhyas program (<a ,="" href="http://www.abhyas.org/" target="external">www.abhyas.org</a>) have engaged summer interns Gagan Kumar Singh and Santosh Manshiramani of the Sadhana Centre for Management Leadership & Development, Pune (<a ,="" href="http://www.scmld.org/" target="external">www.scmld.org</a> - beyond conventional management programs) to work on a research paper.<br />
<br />
Responding to these questions will be your contribution to our ongoing efforts to create a collaborative dialogue, and combine efforts to find solutions that meet the increasing need of parking, as well as to formulate policies and regulations for the creation and use of parking space. These questions are targeted at residents of Mumbai and Pune, as these cities are being covered for the study at present. Thank you for your kind co-operation.<br />
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Click on link <a ,="" href="http://tinyurl.com/2vy77co" target="external">http://tinyurl.com/2vy77co</a>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0tag:blogger.com,1999:blog-7694074023799686956.post-52222640008220600002010-05-08T18:15:00.004+05:302010-05-09T18:21:37.429+05:30Private Equity & Venture Capital<div style="margin: 0pt 0pt 0pt 36pt; text-align: justify;"><span style="font-family: calibri;"><b><span style="font-size: small;">1.</span></b></span> <span style="font-family: calibri;"><b><span style="font-size: small;">SECTOR OVERVEIW</span></b></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Equity capital that is not quoted on a public exchange. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Capital for private equity is raised from retail and institutional investors, and can be used to fund new technologies, expand working capital within an owned company, make acquisitions, or to strengthen a balance sheet. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">4.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">The majority of private equity consists of institutional investors and accredited investors who can commit large sums of money for long periods of time. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">5.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Private equity investments often demand long holding periods to allow for a turnaround of a distressed company or a liquidity event such as an IPO or sale to a public company. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">6.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Among the most common investment strategies in private equity include leveraged buyouts (LBO), venture capital, growth capital, distressed investments and mezzanine capital.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><br />
</div><div style="margin: 0pt 0pt 0pt 36pt; text-align: justify;"><span style="font-family: calibri;"><b><span style="font-size: small;">2.</span></b></span> <span style="font-family: calibri;"><b><span style="font-size: small;">PRIVATE EQUITY STRATEGIES</span></b></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">1.</span></span></span> <span style="font-family: calibri;"><u><span style="font-size: small;">Leveraged Buyouts (LBO): </span></u></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">The acquisition of another company using a significant amount of borrowed money (bonds or loans) to meet the cost of acquisition. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Often, the assets of the company being acquired are used as collateral for the loans in addition to the assets of the acquiring company. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">The purpose of leveraged buyouts is to allow companies to make large acquisitions without having to commit a lot of capital.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">2.</span></span></span> <span style="font-family: calibri;"><u><span style="font-size: small;">Venture Capital:</span></u></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Financing for new businesses. In other words, money provided by investors to startup firms and small businesses with perceived, long-term growth potential. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">This is a very important source of funding for startups that do not have access to capital markets.</span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;"> It typically entails high risk for the investor, but it has the potential for above-average returns.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">3.</span></span></span> <span style="font-family: calibri;"><u><span style="font-size: small;">Growth Capital:</span></u></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">It is equity investments, most often minority investments, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance a major acquisition without a change of control of the business. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Growth capital can also be used to, effect a restructuring of a company's balance sheet, particularly to reduce the amount of leverage (or debt) the company has on its balance sheet.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">4.</span></span></span> <span style="font-family: calibri;"><u><span style="font-size: small;">Distressed Investments:</span></u></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Distressed or Special Situation is a broad category referring to investments in equity or debt securities of financially stressed companies. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">The "distressed" category encompasses two broad sub-strategies including:</span></span></div><div style="margin: 0pt 0pt 0pt 90pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">"Distressed-to-Control" or "Loan-to-Own" strategies where the investor acquires debt securities in the hopes of emerging from a corporate restructuring in control of the company's equity. </span></span></div><div style="margin: 0pt 0pt 0pt 90pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">"Special Situations" or "Turnaround" strategies where an investor will provide debt and equity investments, often "rescue financing" to companies undergoing operational or financial challenges. </span></span></div><div style="margin: 0pt 0pt 0pt 90pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">In addition to these private equity strategies, hedge funds employ a variety of distressed investment strategies including the active trading of loans and bonds issued by distressed companies.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">5.</span></span></span> <span style="font-family: calibri;"><u><span style="font-size: small;">Mezzanine Capital:</span></u></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">A hybrid of debt and equity financing that is typically used to finance the expansion of existing companies. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Mezzanine financing is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the loan is not paid back in time and in full. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">It is generally subordinated to debt provided by senior lenders such as banks and venture capital companies. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">4.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Since mezzanine financing is usually provided to the borrower very quickly with little due diligence on the part of the lender and little or no collateral on the part of the borrower, this type of financing is aggressively priced with the lender seeking a return in the 20-30% range. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">6.</span></span></span> <span style="font-family: calibri;"><u><span style="font-size: small;">Secondary Investments:</span></u></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Secondary investments refer to investments made in existing private equity assets. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">These transactions can involve the sale of private equity fund interests or portfolios of direct investments in privately held companies through the purchase of these investments from existing institutional investors.</span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Secondary investments provide institutional investors with the ability to improve vintage diversification, particularly for investors that are new to the asset class. </span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">4.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Often investments in secondary are made through third party fund vehicle, structured similar to a fund of funds although many large institutional investors have purchased private equity fund interests through secondary transactions.</span></span></div><div style="margin: 0pt 0pt 0pt 72pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: x-small;">5.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Sellers of private equity fund investments sell not only the investments in the fund but also their remaining unfunded commitments to the funds.</span></span></div><div style="margin: 0pt 0pt 0pt 18pt; text-align: justify;"><br />
</div><div style="margin: 0pt 0pt 0pt 36pt; text-align: justify;"><span style="font-family: calibri;"><b><span style="font-size: small;">3.</span></b></span> <span style="font-family: calibri;"><b><span style="font-size: small;">INDIA</span></b></span><span style="font-family: calibri;"><b><span style="font-size: small;">’s PRIVATE EQUITY MODEL</span></b></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Business in </span></span><span style="font-family: calibri;"><span style="font-size: small;">India</span></span><span style="font-family: calibri;"><span style="font-size: small;"> operates with a considerable degree of freedom from political interference. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Accounting systems are similar to US GAAP and there exists a large pool of well-trained managers. </span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">India</span></span><span style="font-family: calibri;"><span style="font-size: small;">’s robust public markets provide a reliable route to exit.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">4.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Indian law prevents companies borrowing in order to make acquisitions prohibits the leveraged buyout deals. If the deal is structured outside </span></span><span style="font-family: calibri;"><span style="font-size: small;">India</span></span><span style="font-family: calibri;"><span style="font-size: small;"> there can be a certain amount of leverage, but this is likely to come in at around 20 percent rather than 60 or 70.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">5.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Most are family-owned and although their shareholding founders are usually willing to exchange equity for cash, they also generally wish to retain control. Thus, the majority of Private Equity deals are minority investments rather than buyouts.</span></span></div><div style="margin: 0pt 0pt 0pt 18pt; text-align: justify;"><br />
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</div><div style="margin: 0pt 0pt 0pt 36pt; text-align: justify;"><span style="font-family: calibri;"><b><span style="font-size: small;">4.</span></b></span> <span style="font-family: calibri;"><b><span style="font-size: small;">MAJOR TRENDS AND </span></b></span><a href="" id="OLE_LINK1" name="OLE_LINK1"></a><a href="" id="OLE_LINK2" name="OLE_LINK2"></a><span style="font-family: calibri;"><b><span style="font-size: small;">CHALLENGES</span></b></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">1.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">In the second quarter of 2009 global funds accounted for 32 percent of the market. Funds based in </span></span><span style="font-family: calibri;"><span style="font-size: small;">India</span></span><span style="font-family: calibri;"><span style="font-size: small;"> and Asia Pacific comprise 42 percent and 25 percent respectively.</span></span><a href="" id="_ednref1" name="_ednref1"></a><a href="https://docs.google.com/Doc?docid=0AfqOhNmLyZWEZHJqd2tycV8xNTRkcHgzbTI4cw&hl=en#_edn1" target="_self">[i]</a></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">2.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Forty-eight percent of India-focused funds operate as overseas limited liability partnerships.</span></span> <a href="" id="_ednref2" name="_ednref2"></a><a href="https://docs.google.com/Doc?docid=0AfqOhNmLyZWEZHJqd2tycV8xNTRkcHgzbTI4cw&hl=en#_edn2" target="_self">[ii]</a></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">3.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">Current transactions have much higher levels of equity than previously seen, new types of structures are introduced, but the underlying theme remains that raising new debt for deals is challenging.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><span style="font-style: normal;"><span style="font-family: calibri;"><span style="font-size: small;">4.</span></span></span> <span style="font-family: calibri;"><span style="font-size: small;">The stock market though recovered is more volatile which means that high returns on exit are no longer guaranteed.</span></span></div><div style="margin: 0pt 0pt 0pt 54pt; text-align: justify;"><br />
</div><table cellpadding="0" cellspacing="0" class="zeroBorder" height="280" style="margin-left: 75.6pt; width: 314px;"><tbody>
<tr><td style="background-color: black; vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: center;"><span style="font-family: calibri;"><span style="color: white;"><b><span style="font-size: small;">PARTICULARS</span></b></span></span></div></td><td colspan="3" style="background-color: black; vertical-align: top;"><div style="margin: 0pt; text-align: center;"><span style="font-family: calibri;"><span style="color: white;"><b><span style="font-size: small;">As on Dec 31, 2009 (Rs. in Crore)</span></b></span></span></div></td></tr>
<tr><td style="background-color: black; vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: center;"><span style="font-family: calibri;"><span style="color: white;"><b><span style="font-size: small;">Sectors of Economy</span></b></span></span></div></td><td style="background-color: black; vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: center;"><span style="font-family: calibri;"><span style="color: white;"><b><span style="font-size: small;">VCF</span></b></span></span></div></td><td style="background-color: black; vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: center;"><span style="font-family: calibri;"><span style="color: white;"><b><span style="font-size: small;">FVCI</span></b></span></span></div></td><td style="background-color: black; vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: center;"><span style="font-family: calibri;"><span style="color: white;"><b><span style="font-size: small;">Total</span></b></span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Information technology</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">782</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">2082</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">2864</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Telecommunications</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">767</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">3502</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">4268</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Pharmaceuticals</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">802</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">675</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">1478</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Biotechnology</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">389</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">72</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">461</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Media/ Entertainment</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">965</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">469</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">1434</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Services Sector</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">1991</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">1538</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">3529</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Industrial Products</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">1301</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">1043</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">2344</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Real Estate</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">6753</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">1432</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">8185</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Others</span></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">11143</span></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">16015</span></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><span style="font-size: small;">27158</span></span></div></td></tr>
<tr><td style="vertical-align: top; width: 119.25pt;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><b><span style="font-size: small;">Total</span></b></span></div></td><td style="vertical-align: top; width: 57.15pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><b><span style="font-size: small;">24893*</span></b></span></div></td><td style="vertical-align: top; width: 72pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><b><span style="font-size: small;">26827</span></b></span></div></td><td style="vertical-align: top; width: 65.6pt;"><div style="margin: 0pt; text-align: right;"><span style="font-family: calibri;"><b><span style="font-size: small;">42059</span></b></span></div></td></tr>
<tr><td colspan="4" style="vertical-align: top;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">*includes Rs.9661 crore of FVCI investments in VCF</span></span></div></td></tr>
<tr><td colspan="4" style="vertical-align: top;"><div style="margin: 0pt; text-align: justify;"><span style="font-family: calibri;"><span style="font-size: small;">Source: SEBI </span></span></div></td></tr>
</tbody></table>rajivbeehttp://www.blogger.com/profile/07794295875868713442noreply@blogger.com0