DOCSLIB.ORG

Bajaj Allianz General Insurance Company Ltd., Or BAGIC; and (Iii) Life Insurance, Under Bajaj Allianz Life Insurance Company Ltd., Or BALIC

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Bajaj Allianz General Insurance Company Ltd., Or BAGIC; and (Iii) Life Insurance, Under Bajaj Allianz Life Insurance Company Ltd., Or BALIC Contents Board of Directors ................................................................................02 Chairman’s Letter ................................................................................ 04 Management Discussion and Analysis ..............................................07 Corporate Governance .........................................................................23 General Shareholder Information .......................................................38 Directors’ Report ...................................................................................47 (including Annual Report on CSR activities) Consolidated Financial Statements ....................................................83 Standalone Financial Statements ..................................................... 177 Board of Directors Risk Management Auditors Committee Rahul Bajaj S R B C & CO LLP Chairman Nanoo Pamnani Chartered Accountants Nanoo Pamnani Chairman Vice Chairman Sanjiv Bajaj Secretarial Auditor Sanjiv Bajaj S Sreenivasan, CFO Shyamprasad D Limaye Managing Director & CEO Duplicate Share Certificate Practising Company Secretary Madhur Bajaj Issuance Committee Rajiv Bajaj Cost Auditor Rahul Bajaj D J Balaji Rao Chairman Dhananjay V Joshi & Associates Dr. Gita Piramal Cost Accountants Sanjiv Bajaj Dr. Naushad Forbes Rajiv Bajaj Bankers Audit Committee Management Citibank N A Sanjiv Bajaj HDFC Bank Nanoo Pamnani Managing Director & CEO Chairman Ranjit Gupta Registered under D J Balaji Rao President (Insurance) the Companies Act, 1956 Dr. Gita Piramal Kevin D’sa Dr. Naushad Forbes President (Business Development) Registered Office V Rajagopalan Bajaj Auto Ltd. Complex, Stakeholders Relationship President (Legal & Taxation) Mumbai-Pune Road, Akurdi, Pune-411 035. Committee Ganesh Mohan Head - Strategy Dr. Gita Piramal CIN: L65923PN2007PLC130075 Chairperson Deepak Reddy Group Head - Human Resources Nanoo Pamnani Ajay Sathe Corporate Office Sanjiv Bajaj Head - Group Risk Management Bajaj Finserv House Rajeev Jain Viman Nagar, Pune-411 014. Nomination and Managing Director, Bajaj Finance Ltd. Remuneration Committee Tapan Singhel MD and CEO, Bajaj Allianz Nanoo Pamnani General Insurance Company Ltd. Chairman Tarun Chugh D J Balaji Rao MD and CEO, Bajaj Allianz Life Insurance Company Ltd. Dr. Gita Piramal Rahul Bajaj CFO Corporate Social S Sreenivasan Responsibility Committee Company Secretary Rahul Bajaj Chairman Sonal R Tiwari Nanoo Pamnani Sanjiv Bajaj Leading the Way Nanoo Pamnani Sanjiv Bajaj S Sreenivasan Ranjit Gupta Kevin D’sa V Rajagopalan Ganesh Mohan Deepak Reddy Ajay Sathe Rajeev Jain Tapan Singhel Tarun Chugh Chairman’s Letter Dear Shareholder, Bajaj Finserv is the holding company under which there are three key financial sector businesses: (i) lending through Bajaj Finance Ltd. (BFL), which is itself a listed company; (ii) general insurance, under Bajaj Allianz General Insurance Company Ltd., or BAGIC; and (iii) life insurance, under Bajaj Allianz Life Insurance Company Ltd., or BALIC. The insurance businesses are unlisted. In addition, there are wind-farm assets in Maharashtra with an installed capacity of 65.2 MW. Let me briefly share with you the key achievements of your Company in FY2018 under BFL, BAGIC and BALIC. Lending: Bajaj Finance Ltd. (BFL) In a tough year where real GDP is expected to have grown by 6.6% — less than the 7.1% achieved in FY2017, and 8.2% in FY2016 — BFL has continued to deliver outstanding results. l Standalone assets under management (AUM) increased by 34% to H 80,444 crore. Consolidated AUM rose by 40% to H 84,033 crore. l Total income rose by 33% to H 13,329 crore. l Profit after tax also increased by 44% to H 2,647 crore. l BFL’s net NPA at 0.38% was among the lowest in the NBFC industry. l Capital adequacy as on 31 March 2018 was 24.71%, which was well above the RBI norms. General Insurance: Bajaj Allianz General Insurance Company Ltd. (BAGIC) BAGIC is a composite insurer offering various types of general insurance including motor, marine, health and various forms of corporate insurances. It ranks among the more profitable general insurers vis-a-vis peers of comparable size. Its combined ratio of 92.3% - a ratio below 100% indicates that the Company’s core insurance business is profitable - is among the best in the industry. BAGIC’s results for FY2018 were as follows: l Some 13 million policies were issued in the year, versus 10 million in FY2017. l Gross written premium (GWP) rose by 23% to H 9,487 crore. l Net earned premium grew by 23% to H 6,059 crore. l Profit after tax increased by 27% to H 921 crore. l Solvency margin as at 31 March 2018 stood at 276%, which was well above the regulatory minimum margin of 150%. l Return on average equity was 23%, same as the previous year. 11th ANNUAL REPORT 2017-18 | 5 Chairman’s Letter Life Insurance: Bajaj Allianz Life Insurance Company Ltd. (BALIC) BALIC has also done reasonably well for FY2018, recording strong growth in new business, as the figures below indicate. l Individual rated new business (NB) premium increased by 38% to H 1,397 crore. l NB premium grew by 29% to H 4,291 crore. l Gross written premium (GWP) grew by 23% to H 7,578 crore. l 13th month persistency saw improvement: up at 77% versus 68% in FY2017. l Assets under management (AUM) grew by 5% to H 51,970 crore as on 31 March 2018. l Profit after tax was H 716 crore. l Solvency margin as at 31 March 2018 was 592%, which was well above the regulatory minimum margin of 150%. I am also pleased to share with you several pieces of good news. Firstly, BFL and BAGIC have again had record years – BFL has recorded its highest ever assets under management and profit after tax while BAGIC has registered its highest ever gross written premium and profit after tax. Secondly, for the first time since their incorporation, BAGIC and BALIC have declared dividends of 100% and 70% respectively. Finally, your Managing Director, Sanjiv Bajaj, has been selected by a prestigious jury as the Ernst and Young (EY) ‘Entrepreneur of the Year for India, 2017’. My congratulations to him and BFS on this award. So, as you can see, all the cylinders are firing. BFL continues to perform extraordinarily — delivering industry beating performance. BAGIC has also done very well. And BALIC has stabilised to produce growth with profit. I hope that we will see even better performance next year. Thank you for your support. Yours sincerely, Rahul Bajaj Chairman 17 May 2018 6 | BAJAJ FINSERV LIMITED Management Discussion and Analysis Bajaj Finserv Ltd. (‘Bajaj Finserv’ or ‘the Company’) is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers in the financial services space by providing solutions for asset acquisition through financing, asset protection through general insurance, family protection and income protection in the form of life and health insurance and retirement and savings solutions. More specifically, the areas are: Lending The Company participates in the financing business through Bajaj Finance Ltd. (BFL), a company listed on The Stock Exchange, Mumbai (the BSE) and the National Stock Exchange (NSE). On 29 September 2017, BFL was included in the benchmark Nifty Fifty index of the top 50 stocks in India. BFL also operates through a 100% subsidiary, namely, Bajaj Housing Finance Ltd. (‘BHFL’ or ‘Bajaj Housing’) which is registered with National Housing Bank (NHB) as a Housing Finance Company (HFC) for its mortgage business. BHFL started its operations in FY2018 and all the incremental mortgage business is now done through BHFL. During financial year 2017-18 or FY2018, BFL raised approximately H 4,500 crore through Qualified Institutional Placement (QIP) route by issuing 2,66,27,218 equity shares of face value of H 2 each and a premium of H 1,688 per share. This was the largest QIP of equity shares by an NBFC in India. After this, the shareholding of Bajaj Finserv in BFL stood at 54.99% as at the end of the reporting year. Protection and Savings These are done through (i) Bajaj Allianz General Insurance Company Ltd. (BAGIC) for general insurance including health insurance; and (ii) Bajaj Allianz Life Insurance Company Ltd. (BALIC) for life insurance and retirement plans. BAGIC and BALIC are both unlisted joint ventures with Allianz SE, one of the world’s leading composite insurers. As at 31 March 2018, Bajaj Finserv held 74% of the equity capital in both BAGIC and BALIC, with the balance being held by Allianz. Bajaj Finserv also has investments in renewable energy in the form of 138 windmills situated in Maharashtra with an aggregate installed capacity of 65.2 MW. Bajaj Finserv is a Core Investment Company (CIC) under the regulations of the Reserve Bank of India (RBI), not requiring registration with RBI. From 2 April 2018, Bajaj Finserv, along with BFL, was included in the benchmark Nifty Fifty index. Macroeconomic Overview FY2018 began uncertainly with the economy still dealing with the impact of demonetisation of H 500 and H 1,000 bank notes. Further, second quarter (July-September 2017) saw considerable disruption in economic activity on account of teething troubles that accompanied the rollout of the Goods and Services Tax (GST). The third quarter, however, has shown an uptick — posting 7.2% GDP growth vis-a-vis the same quarter in the previous year. This has prompted some to argue that the economy has recovered from demonetisation and the transition to GST, and that one should now expect a period of higher growth. 11th ANNUAL REPORT 2017-18 | 7 Management Discussion and Analysis As it stands, however, the second advance estimates of national income for FY2018 released by the Central Statistics Office (CSO) on 28 February 2018 forecasts real GDP growth for the year at 6.6%, which is 50 basis points less than the 7.1% growth witnessed in FY2017. Table 1 gives data on real GDP and gross value added (GVA) growth over the last four financial years. Table 1: Growth in Real GDP and GVA, India Particulars FY2015 FY2016 FY2017 FY2018(E) Real GDP growth 7.5% 8.2% 7.1% 6.6% Real GVA growth 7.2% 8.1% 7.1% 6.4% Source: Government of India, Central Statistics Office (CSO).
Load more

Recommended publications
  • Transcript of 46Th AGM – 21 July 2021
    MAHARASHTRA SCOOTERS LIMITED Transcript of the 46th Annual General Meeting held on 21 July 2021 through Video Conferencing/ Other Audio Visual Means - Mr. Sanjiv Bajaj – Chairman, Maharashtra Scooters Limited: - Good evening shareholders, and welcome to this 46th Annual General Meeting of Maharashtra Scooters Limited. I am Sanjiv Bajaj, Chairman of the company. At the outset, I would on behalf of the Board like to express our heartfelt condolences to all those who have lost their loved ones in this dreadful times. With the requisite quorum being present, I call the meeting to order. In view of the continuing restriction on the movement of persons at several places in the country, the Ministry of Corporate Affairs and SEBI has allowed companies to conduct their AGMs through video conferencing or other audio visual means without physical presence of members at a common venue. Accordingly, your company is conducting this meeting through video conferencing for the second consecutive year. The company has taken all feasible effort to ensure that shareholders are provided an opportunity to participate in this AGM. Members participating through mobile devices, tablets, laptops, may at times experience some audio visual loss depending on your own respective networks. Use of a stable Wi-Fi or LAN connection can help with this. Members who may need any technical assistance during the meeting may reach out to KFin at the email ID or the helpline number which we provided in the AGM notice. - Before I commence with my formal address, I would like to introduce all my colleagues on the Board of the company.
    [Show full text]
  • SCHEDULE – 16 : Significant Accounting Policies and Notes to and Forming Part of the Financial Statements for the Year Ended 31 March 2017
    Awards & Recognition Awards won by Bajaj Allianz General Insurance in 2016 - 2017 Best Non-Life Insurance Provider by the Outlook Money Awards General Insurance Company of Domestic General Insurer of the Year the Year (Private Sector) Employer Branding Award by Indian Insurance Awards 2016, for New Insurance Product of the Year by Employer Branding Institute demonstrating market leadership CEO of the Year through innovative products and by Insurance Asia Awards 2016 practices BFSI Innovators Award in ‘Digital People Matters L&D League SKOCH Smart Technology Pioneer Category’ Awards 2016 Award 2016 for India’s Best Telematics Offering - “Best in Redefining Technology in for Drive Smart DriveSmart Learning” for MobiBuZZ SKOCH Insurance Award 2016 for Virtual Office Awards & Recognition Awards won by Bajaj Allianz General Insurance in 2016 - 2017 ‘The World’s Greatest Brands 2016-2017, Asia & GCC’ by PricewaterhouseCoopers India's Most Attractive “Best Motor Insurance The Economic Times Best Brands 2016 Provider” Brands-Premium Edition by the Outlook Money Awards for Being a symbol of Excellence by TRA study India's Leading Insurance Accredited with iAAA rating Motor Insurance of the Year by ICRA for the 11th consecutive Company for Private Non-Life by Money Today Financial Awards time by BFSI Companies & Awards 2017 2017 HR Team of the Year & Most Innovative use of HR Technology (MobiBUZZ) by HR Innovation Awards 2016 Board of Directors Mr. Sanjiv Bajaj Mr. Sanjay Asher Mr. Niraj Bajaj Chairman, Also MD, Independent Director, Also Partner, Director, Also Chairman & Bajaj Finserv Ltd. Crawford Bayley & Co. MD, Mukand Ltd. Bajaj Holdings & Investment Ltd. Mr. Rahul Bajaj Mr.
    [Show full text]
  • Bajaj Auto Limited 6Th Annual Report 2012-13
    Bajaj Auto Limited Bajaj Auto 6th Annual Report 2012-13 Since 1945 Bajaj Auto Limited 6th Annual Report 2012-13 Akurdi Pune 411 035 India www.bajajauto.com Bajaj Auto Limited indidesign.in pragati.com Contents Board of Directors .........................................................................02 Management Team .........................................................................04 Chairman’s Letter ...........................................................................06 Management Discussion and Analysis ...................................09 Corporate Governance ................................................................. 29 General Shareholder Information ............................................41 Directors’ Report ............................................................................50 Report on Corporate Social Responsibility .......................... 62 Standalone Financial Statements .............................................71 Consolidated Financial Statements .......................................131 Board of Directors Management Auditors Rahul Bajaj Rahul Bajaj Dalal & Shah Chairman Chairman Chartered Accountants Madhur Bajaj Madhur Bajaj Vice Chairman Vice Chairman Rajiv Bajaj Rajiv Bajaj Cost Auditor Managing Director Managing Director A P Raman Sanjiv Bajaj Pradeep Shrivastava Cost Accountant Chief Operating Officer Kantikumar R Podar Abraham Joseph Shekhar Bajaj Chief Technology Officer Bankers D J Balaji Rao R C Maheshwari President Central Bank of India State Bank of India D S Mehta (Commercial
    [Show full text]
  • BAJAJ FINANCE LIMITED 33Rd BAJAJ ANNUAL REPORT 2019-20
    33rd ANNUAL REPORT 2019-20 BAJAJ FINANCE LIMITED 33rd ANNUAL REPORT 2019-20 REPORT ANNUAL 33rd BAJAJ FINANCE LIMITED Regd. Office: Akurdi, Pune - 411 035, India. Tel: (020) 30186403 Fax: (020) 30186364 www.bajajfinserv.in/finance CONTENTS Corporate Information ........................................................ 02 Leading the Way ................................................................. 03 Chairman’s Letter ................................................................04 Management Discussion and Analysis .............................. 07 Corporate Governance ........................................................ 29 General Shareholder Information ...................................... 49 Directors’ Report ................................................................ 59 Standalone Financial Statements .....................................105 Consolidated Financial Statements ...................................215 CORPORATE INFORMATION Board of Directors Corporate Social Bankers Responsibility Rahul Bajaj Central Bank of India Chairman Committee State Bank of India Nanoo Pamnani Rahul Bajaj IDBI Bank Vice-Chairman Chairman Syndicate Bank (upto 22 February 2020) Sanjiv Bajaj Bank of India Sanjiv Bajaj Vice-Chairman Dr. Naushad Forbes Rajeev Jain Share Transfer Agent Managing Director Risk Management KFin Technologies Pvt. Ltd. Madhur Bajaj Committee (earlier known as Karvy Rajiv Bajaj Fintech Pvt. Ltd.) Dr. Omkar Goswami Selenium Tower B, Plot 31–32, Dipak Poddar Chairman Ranjan Sanghi Gachibowli, Financial District,
    [Show full text]
  • 2010-11 Bajaj Holdings & Investment Ltd
    CONTENTS Board of Directors ...............................................................................................................................................................................2 Directors’ Report ..................................................................................................................................................................................3 Management Discussion and Analysis ........................................................................................................................................8 Corporate Governance ................................................................................................................................................................... 10 General Shareholder Information .............................................................................................................................................. 16 Report on Corporate Social Responsibility ............................................................................................................................. 19 Standalone Financial Statements ............................................................................................................................................... 24 Consolidated Financial Statements ........................................................................................................................................... 65 Board of Directors CEO Auditors Rahul Bajaj V S Raghavan Dalal & Shah Chairman Chartered Accountants
    [Show full text]
  • Bajaj Allianz General Insurance Company Limited
    Bajaj Allianz General Insurance Company Limited NOTICE NOTICE is hereby given that the 21st Annual General Meeting of the shareholders of Bajaj Allianz General Insurance Company Limited will be held on Friday, 16 July 2021 at 3:45 p.m. through Video Conferencing / Other Audio Visual Means (“VC/OAVM”) to transact the following business: Ordinary Business: 1. To consider and adopt the financial statements of the Company for the year ended on 31 March 2021 comprising of the Revenue Accounts, Profit and Loss Account, Receipts and Payments Account and Balance Sheet as at 31 March 2021 together with Schedules and Notes forming part of the financial statements and the Directors', Management and Auditors' Reports thereon. 2. To confirm the interim dividend of Rs. 13.50 per equity share of face value of Rs. 10 as final dividend for the financial year ended on 31 March 2021 3. To appoint a Director in place of Sanjiv Bajaj (DIN 00014615), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and, being eligible, offers himself for re-appointment. 4. To appoint a Director in place of Sergio Balbinot (DIN 01629245), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and, being eligible, offers herself for re-appointment. 5. To appoint a Director in place of Tapan Singhel (DIN 03428746), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and, being eligible, offers herself for re-appointment By Order of the Board of Directors For Bajaj Allianz General Insurance Company Limited Onkar Kothari Company Secretary & Compliance Officer Pune, 23 April 2021 Bajaj Allianz General Insurance Company Limited NOTES: 1.
    [Show full text]
  • Bajaj Auto Limited 12Th ANNUAL REPORT 2018-19 Since 1945
    Bajaj Auto Limited 12th ANNUAL REPORT 2018-19 Since 1945 CONTENTS Board of Directors 02 Management Team 04 Chairman’s Letter 07 Management Discussion and Analysis 09 Corporate Governance 35 General Shareholder Information 57 Directors’ Report 67 (including Annual Report on CSR activities) Standalone Financial Statements 113 Consolidated Financial Statements 187 Board of Directors Duplicate Share Certificate Company Secretary Issuance Committee Rahul Bajaj, Chairman Dr. J Sridhar Madhur Bajaj, Vice Chairman Rahul Bajaj, Chairman Rajiv Bajaj, Managing Director Rajiv Bajaj Auditors Sanjiv Bajaj Sanjiv Bajaj D S Mehta (upto 31.03.2019) S R B C & CO LLP Shekhar Bajaj Management Chartered Accountants D J Balaji Rao Nanoo Pamnani Rahul Bajaj Secretarial Auditor Manish Kejriwal (upto 31.12.2018) Chairman P Murari (upto 31.03.2019) Shyamprasad D Limaye Niraj Bajaj Rajiv Bajaj Practising Company Secretary Dr. Gita Piramal Managing Director Pradeep Shrivastava, Executive Director Bankers Dr. Naushad Forbes Pradeep Shrivastava Dr. Omkar Goswami Executive Director State Bank of India Anami N. Roy Citibank N A Rakesh Sharma, Executive Director Rakesh Sharma Standard Chartered Bank (from 01.01.2019) Executive Director ICICI Bank Lila Poonawalla (from 01.04.2019) HDFC Bank Pradip Shah (from 01.04.2019) Abraham Joseph HSBC Bank Chief Technology Officer Audit Committee Registered under the R C Maheshwari Companies Act, 1956 Nanoo Pamnani, Chairman President (Intra-City Business) D J Balaji Rao Registered Office Dr. Naushad Forbes Eric Vas Dr. Gita Piramal President (Urbanite Business) Mumbai-Pune Road, Akurdi, Pune 411 035. Stakeholders Relationship Kevin D’sa Committee President (Retail Finance) CIN: L65993PN2007PLC130076 D J Balaji Rao, Chairman S Ravikumar Works Dr.
    [Show full text]
  • Rahul Bajajллллллллллллллл Rahul Bajaj Is a Prominent Indian
    Rahul bajaj««««««««««««««« Rahul Bajaj is a prominent Indian businessman and chairman of the Bajaj Group, which ranks among the top 10 business houses in India. The Bajaj Group has diversified interests ranging from automobiles, home appliances, lighting, iron and steel, insurance, travel and finance. Rahul Bajaj is one of India¶s most distinguished business leaders and internationally respected for his business acumen and entrepreneurial spirit. He comes from the business house started by Jamnalal Bajaj. Bajaj Auto is his flagship company. He was awarded the Padma Bhushan in 2001. He was listed twentieth on the Forbes India¶s Richest 40 list of people. Rahul Bajaj is an alumnus of Harvard, St. Stephen¶s and Cathedral. He took over the reins of Bajaj Group in 1965. Under his stewardship, the turnover of the Bajaj Auto the flagship company has risen from Rs.72 million to Rs.46.16 billion. Rahul Bajaj created one of India¶s best companies in the difficult days of the licence-permit raj. He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was top scooter producer in India and its Chetak brand had a 10- year waiting period. The initiation of liberalization in India posed great challenges for Bajaj Auto. Liberalisation brought the threat of cheap imports and FDI from top companies like Honda. Rahul Bajaj became famous as the head of the Bombay Club, which opposed liberalization. The scooter sails plummeted as people were more interested in motorcycles and the rival Hero Honda was a pioneer in it. The recession and stock market collapse of 2001 hit the company hard and it was predicted that the days of Bajaj Auto were numbered.
    [Show full text]
  • Directors' Report
    Contents Board of Directors ........................................................................02 Directors’ Report ........................................................................... 04 (including Annual Report on CSR activities) Management Discussion and Analysis ....................................... 31 Corporate Governance ..................................................................39 General Shareholder Information ................................................53 Standalone Financial Statements ................................................61 Consolidated Financial Statements ...........................................107 Board of Directors Corporate Social Auditors Responsibility Committee Rahul Bajaj Dalal & Shah LLP Chairman Rahul Bajaj Chartered Accountants Sanjiv Bajaj Chairman Managing Director Nanoo Pamnani Secretarial Auditor Madhur Bajaj Sanjiv Bajaj Shyamprasad D Limaye Rajiv Bajaj Practising Company Secretary D J Balaji Rao Duplicate Share Nanoo Pamnani Certificate Issuance Bankers Manish Kejriwal Committee Citibank N A Naresh Chandra Rahul Bajaj HDFC Bank Chairman P Murari Sanjiv Bajaj Dr. Gita Piramal Registered under the Rajiv Bajaj Companies Act, 1913 Audit Committee CFO Registered Office Naresh Chandra Chairman Anant Marathe Mumbai-Pune Road, Nanoo Pamnani Akurdi, Pune 411 035. Manish Kejriwal Company Secretary CIN: L35911PN1945PLC004656 Vallari Gupte Stakeholders Relationship Committee P Murari Chairman Nanoo Pamnani Manish Kejriwal Dr. Gita Piramal Nomination and Remuneration Committee Naresh
    [Show full text]
  • Bajaj's Small Car in 2010 Quick Facts Founder Jamnalal Bajaj Year Of
    Bajaj Auto Ltd. is the largest exporter of two and three wheelers. With Kawasaki Heavy Industries of Japan, Bajaj manufactures state-of-the-art range of two-wheelers. The brand, Pulsar is continually dominating the Indian motorcycle market in the premium segment. Its Discover DTSi is also a successful bike on Indian roads. Bajaj's Small Car in 2010 India's second largest bike manufacturer Bajaj Auto Ltd has announced to launch its concept car by 2010. The small 'Lite' will be in competition to Tata Nano which is tagged as world's cheapest car. This small concept car is being designed in collaboration with Renault and Nissan but it will not be for Rs 1 lakh. Bajaj Auto managing director Rajiv Bajaj said that the focus is on performance of the car rather than cost. Bajaj motors has clarified that mileage, maintenance and carbon emissions. are the sole objectives in this Lite's design. Quick Facts Founder Jamnalal Bajaj Year of Establishment 1926 Industry Automotive - Two & Three Wheelers Business Group The Bajaj Group Listings & its codes BSE - Code: 500490; NSE - Code: BAJAJAUTO Presence Distribution network covers 50 countries. Dominant presence in Sri Lanka, Bangladesh, Columbia, Guatemala, Peru, Egypt, Iran and Indonesia. Joint Venture Kawasaki Heavy Industries of Japan Registered & Head Office Akurdi Pune - 411035 India Tel.: +(91)-(20)-27472851 Fax: +(91)-(20)-27473398 Works Akurdi, Pune 411035 Bajaj Nagar, Waluj Aurangabad 431136 Chakan Industrial Area, Chakan, Pune 411501 E-mail [email protected] Website www.bajajauto.com
    [Show full text]
  • 76Th ANNUAL REPORT 2020-21
    BAJAJ HOLDINGS & INVESTMENT LIMITED 76th ANNUAL REPORT 2020-21 CONTENTS Corporate Information ...............................................................................................................02 Directors’ Report ....................................................................................................................... 05 (including Annual Report on CSR activities) Management Discussion and Analysis ................................................................................... 25 Corporate Governance ..............................................................................................................35 General Shareholder Information ........................................................................................... 52 Standalone Financial Statements .............................................................................................61 Consolidated Financial Statements ........................................................................................133 BAJAJ HOLDINGS & INVESTMENT LIMITED 76th Annual Report 2020-21 CORPORATE INFORMATION Board of Directors Audit Committee Niraj Bajaj Pradip P Shah Chairman Chairman Sanjiv Bajaj Dr. Naushad Forbes Managing Director & CEO Dr. Gita Piramal D J Balaji Rao Manish Kejriwal Dr. Gita Piramal Dr. Naushad Forbes Nomination & Remuneration Committee Anami N Roy Dr. Gita Piramal Chairperson Pradip P Shah D J Balaji Rao Rajiv Bajaj Niraj Bajaj Madhur Bajaj Manish Kejriwal Risk Management Committee Pradip P Shah Chairman Emeritus Chairman Rahul
    [Show full text]
  • 14Th ANNUAL REPORT 2020-21 Contents
    BAJAJ FINSERV LIMITED 14th ANNUAL REPORT 2020-21 CONTENTS Corporate Information 2 Leading the Way 4 Chairman’s Letter 6 Management Discussion and Analysis 10 Report on Corporate Governance 32 General Shareholder Information 52 Directors’ Report (Including Annual Report on CSR Activities) 62 Consolidated Financial Statements 85 Standalone Financial Statements 231 1 BAJAJ FINSERV LIMITED 14th Annual Report 2020-21 CORPORATE INFORMATION Board of Directors Nomination and Remuneration Sanjiv Bajaj Committee Chairman & Managing Director D J Balaji Rao Chairman Madhur Bajaj Dr. Gita Piramal Rajiv Bajaj Manish Kejriwal D J Balaji Rao Sanjiv Bajaj Dr. Gita Piramal Dr. Naushad Forbes Duplicate Share Certificate Anami N Roy Issuance Committee Manish Kejriwal Sanjiv Bajaj Chairman Chairman Emeritus Rajiv Bajaj Rahul Bajaj Manish Kejriwal Audit Committee Corporate Social Responsibility Dr. Naushad Forbes Committee Chairman Sanjiv Bajaj Chairman D J Balaji Rao Dr. Naushad Forbes Dr. Gita Piramal Anami N Roy Manish Kejriwal Stakeholders Relationship Risk Management Committee Committee Dr. Naushad Forbes Chairman Dr. Gita Piramal Chairperson Sanjiv Bajaj Sanjiv Bajaj Anish Amin President (Group Assurance, Risk and M & A) Dr. Naushad Forbes 2 Corporate Information Corporate Overview Statutory Reports Financial Statements 01-09 10-84 85-286 Management Auditors Sanjiv Bajaj S R B C & CO LLP Chairman & Managing Director Chartered Accountants Ranjit Gupta President (Insurance) Secretarial Auditor V Rajagopalan Shyamprasad D Limaye President (Legal & Taxation) Practising Company Secretary Anish Amin Cost Auditor President (Group Assurance, Risk and M & A) Dhananjay V Joshi & Associates Deepak Reddy Cost Accountants Group Head - Human Resources Ganesh Mohan Bankers Group Head - Strategy Citibank N A Ajay Sathe Group Head - Customer Experience & CSR HDFC Bank Purav Jhaveri Registered under the Companies Act, 1956 President (Investments) Rajeev Jain Registered Office Managing Director, Bajaj Finance Ltd.
    [Show full text]