Scindia, Vaishnaw, Irani Join Key Cabinet Panels
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4 POLITICS & PUBLIC AFFAIRS NEW DELHI | WEDNESDAY, 14 JULY 2021 1 > l Scindia, Vaishnaw, Irani join key Cabinet panels MADHYA PRADESH HOUSING & INFRASTRUCTURE DEVELOPMENT BOARD PRESS TRUST OF INDIA Notice Inviting E-Tender 2021_MPHID_150120 (1st call) New Delhi, 13 July Construction of 100 Seated Girls Hostel Cum Computer Training Center Building at BRAUSS Campus Mhow, District ays after a major Indore (M.P.) PAC Rs. 196.25 Lakh. Full Details of the above reshuffle of the Modi tenders can be seen on website https://mptenders.gov.in & Dministry, the govern- ment reconstituted the pow- www.mphousing.in erful cabinet committees, Website : www.mphousing.in (Manoj Shewale) bringing in Union ministers e-mail : [email protected] E.E., Div.-2, Indore Smriti Irani, Bhupender Yadav M.P. Madhyam/101295/2021 Ph. : 0731-2552350 and Sarbananda Sonowal as the new members of the Cabinet Committee on JYOTIRADITYA ASHWINI VAISHNAW SMRITI IRANI will be SARBANANDA Political Affairs headed by the SCINDIA has been will also be part of the part of the Cabinet SONOWAL, too, will prime minister. named to the PM-led investment Committee on be part of the Union ministers Arjun Cabinet Committee committee, besides Political Affairs, powerful Cabinet Munda, Virendra Kumar, on Investment and that on employment which is led by the Committee on Kiren Rijiju and Anurag Growth and skill development prime minister Political Affairs Thakur have been included in the rejigged Cabinet Amit Shah, Finance Minister members: PM Modi, Rajnath and Growth comprises PM Committee on Parliamentary Nirmala Sitharaman and Singh, Amit Shah, Nitin Modi, Rajnath Singh, Amit Affairs, according to a notifi- External Affairs Minister S Gadkari, Nirmala Sitharaman, Shah, Nitin Gadkari, Nirmala cation issued by the Cabinet Jaishankar. Narendra Singh Tomar, S Sitharaman, Piyush Goyal, Secretariat last night. The reconstituted Cabinet Jaishankar, Piyush Goyal and Narayan Rane, Jyotiraditya However, there has been Committee on Political Affairs Dharmendra Pradhan, Scindia and Ashwini no change in the composition comprises the prime minister, according to the notification. Vaishnaw. of the country's highest deci- and Union ministers Rajnath The members of the The members of the sion-making body on security Singh, Amit Shah, Nitin Cabinet Committee on Cabinet Committee on affairs — the Cabinet Gadkari, Nirmala Sitharaman, Parliamentary Affairs are: Employment and Skill Committee on Security — and Narendra Singh Tomar, Smriti Rajnath Singh, Amit Shah, Development are: PM Modi, the Appointments Committee Irani, Piyush Goyal, Pralhad Nirmala Sitharaman, Rajnath Singh, Amit Shah, of the Cabinet. Joshi, Sarbananda Sonowal, Narendra Singh Tomar, Arjun Nirmala Sitharaman, The members of the Giriraj Singh, Mansukh Munda, Pralhad Joshi, Narendra Singh Tomar, Cabinet Committee on Mandaviya and Bhupender Virendra Kumar, Kiren Rijiju Piyush Goyal, Dharmendra Security are PM Narendra Yadav. and Anurag Thakur. Pradhan, Ashwini Vaishnaw, Modi, Defence Minister The Cabinet Committee on The rejigged Cabinet Hardeep Singh Puri and Rajnath Singh, Home Minister Economic Affairs has nine Committee on Investment Bhupender Yadav. Maharashtra offers sops for EVs ANEESH PHADNIS ing of e-vehicles, compo- e-mobility. “We have studied The government will Mumbai, 13 July nents and batteries. EV policies of other states encourage urban local bodies The state hopes EVs will and countries before decid- to give rebates in property tax Electric vehicles in account for 10 per cent of all ing our policy," state's to housing societies setting Maharashtra will get finan- new vehicle registrations by Environment Minister Aditya up charging stations and pro- cial incentives ranging from 2025. Separate targets have Thackeray said. mote manufacturing of vehi- ~10,000 to ~20 lakh and hous- been laid down for two- All EVs in the state will be cle batteries under the PLI ing societies will earn rebates wheelers (10 per cent) and exempt from road tax and scheme of the central govern- in property tax for setting up four-wheelers (5 per cent) in registration charges under ment. charging stations as a part of the electric segment; 15 per the scheme. Electric two- "We want Maharashtra to the state government's big e- cent of state transport buses wheelers and cars would get become the leading destina- mobility push. will be converted to EVs by a maximum incentive of tion of EV ecosystem through The state government 2025. ~10,000 and ~1.5 lakh, respec- demand and supply-side announced its electric vehicle With the new measures, tively; buses would be eligible incentives," said Ashish policy on Tuesday, offering Maharashtra joins Delhi, for ~20 lakh. The number of Kumar Singh, additional sops for fresh purchases, Gujarat, Karnataka, and vehicles getting incentives chief secretary, Maharashtra scrappage, and manufactur- Tamil Nadu in encouraging will be capped. government. in reconciling the two the rule a year earlier. could be an exception and sec- of harmonious construction Whatever little fresh fund- ondary sales would continue to > FROM PAGE 1 would apply, Sebi told SAT. raise was seen in the previous dominate IPOs. “This year's “There’s no conflict when years, it was dominated by trend is not a significant depar- SAT... the company abides by its own financial companies, where ture from the past. We will see AoA. The fundamental task is capital is seen as a raw material the OFS dominating as most of Sebi justified its action by say- to determine whether the two to do business. “The larger the IPOs will be looking to pro- ing the proposed allotment provisions have been repug- IPOs in the last few years were vide an exit to existing share- would have impacted the mar- nant to each other and can be from financial sector entities. holders and investors,” said ket and minority shareholders, reconciled,” Sebi said. Arriving This year, not that many Haldea. who hold a little over 15 per at a floor price under the ICDR finance companies came with cent in the company. It said the regulations doesn’t bar the frim their IPOs, even the size of preferential allotment would from conducting the pricing those who came was very Sputnik V... result in a change in ownership exercise under its AoA and small. IPOs mainly have served Dmitriev said some of these and an open offer, and that the arriving at a price higher than the objective to provide an exit partners have started manufac- preferential issue price would the ICDR floor price, it said. to private equity investors or turing the Sputnik V, and the have a direct bearing on the According to section 19 (2) promoters,” said Pranav quality has been verified by the open offer price. of PNB Housing Finance’s AoA, Haldea, MD, PRIME Database. Gamaleya Center. The produc- “Sebi will have to intervene further shares may be offered Market players said the suc- tion from these partners is if it finds that the action pro- to any persons if authorised by cess of IPOs with only second- expected to be available by posed to be taken by a compa- special resolution either for ary share sales should also be September, he added. ny will impact the securities cash or for consideration other cheered as it was a sign of a The Indian production is market,” it told SAT, adding than cash — if the price of such mature market. They said it critical for the commercial that it did not find that the shares is determined by the val- provided an exit to PE launch of Sputnik V, which is price arrived at for the prefer- uation of a registered valuer. investors, thus freeing up cap- delayed on account of shortage ential allotment was in accor- ital to be invested in newer of the second dose component dance with the applicable pro- companies. Moreover, it helps of the vaccine. Dr. Reddy’s vision in the company’s Fresh fundraising.. promoters liquidate some of Laboratories, which is the dis- Articles of Association (AoA). The largest-ever fresh their holdings and incentivises tribution partner of RDIF for There’s no conflict between fundraise through an IPO was them to list. Sputnik V, launched a pilot on following a company’s AoA by Reliance Power at ~10,123 PE and venture capital May 14. While the nationwide and Sebi’s ICDR (Issue of crore in 2008, followed by real- funds have replaced IPOs as the soft launch has reached 50 Capital and Disclosure ty major DLF, which issued means to initial capital. cities, the vaccine is yet to be Requirements) regulations and fresh shares worth ~9,188 crore Companies are tapping the IPO commercially launched. market at a much later lifecy- DRL had said earlier that > cle, according to experts. there was a “slight postpone- BS SUDOKU # 3409 But one downside of the lat- ment in timeline of the com- est trend has been that the cap- mercial launch due to depend- ital markets have turned averse ency on imported to companies that require loads consignments”. DRL is the sole of capital to sustain the busi- distributor of the first 250 mil- ness. As a result, firms from lion doses of the Sputnik V vac- infrastructure, power, and cine in India. The initial 50 mil- large-scale manufacturing sec- lion doses are expected to be tors have barely been able to imported from Russia to tap the equity capital markets ensure faster roll-out in India for years now. as Indian manufacturing sites Such companies, they said, gear up to supply the vaccine. were also not aggressively The first consignment of tapped by PEs. This rules out the imported doses of the the companies considered crit- Sputnik V vaccine, which land- ical to supporting the econo- ed in India on May 1, received my's core, such as roads and regulatory clearance from the other big infra projects.