08/12/2020

To

Listing Department The General Manager Calcutta Stock Exchange Limited Department of Corporate Services 7, Lyons Range BSE Limited - 700001 Phiroze Jeejeebhoy Tower Dalal Street, - 400001. Scrip Code- 12141- CSE Scrip Code- 542669

Sub: Newspaper Advertisement regarding notice of 38th Annual General Meeting (“AGM”) of the Company through Video conferencing/ Other Audio Visual Means (“OAVM”), Book Closure and E-Voting information

Dear Sir/Madam,

Pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 (as amended), and Regulation 30, Regulations 44 and 47 of the SEB1 (Listing Obligations and Disclosure Requirements) Regulations, we enclosed a copy of each newspaper clippings of the advertisement published in "" in English Daily and “Aajkaal” in Bengali Daily on December 08, 2020 regarding Notice of 38th AGM of the Company scheduled to be held on Wednesday, December 30, 2020 through Video Conferencing/Other Audio Visual Means facility, Book Closure and E-voting information are enclosed herewith. The same is also available on the website of the company at www.bmwil.co.in.

You are requested to take the above on record. Yours faithfully, For BMW Industries Limited

Vikram Kapur (Company Secretary and Compliance Officer) CS Mem No.– A9812

Encl: As above

4 COMPANIES KOLKATA | TUESDAY, 8 DECEMBER 2020 1 > Tata empire faces tough decision over airline biz

ANURAG KOTOKY & RAGINI SAXENA The lack of an aviation-in- 7 December charge person at was also a challenge and meant atan Tata is no stranger and AirAsia to flying. As a 17-year- ended up competing for the R old, the patriarch of same flyers, the people said. India’s biggest conglomerate The business model of market once landed a plane that had leader IndiGo, run by lost its sole engine mid-flight. InterGlobe Aviation and which He’s also piloted the supersonic has made money year after F-16 fighter jet. That love of avi- year selling cheap tickets for ation hasn’t always translated on-time flights, wasn’t into business success, however. seriously studied or replicated, Tata Group’s airlines — AirAsia they said. India and Vistara — were strug- Apart from — gling before the pandemic. who retired around the time Covid-19 put the sprawling Tata the ventures were established Sons, which owns a 51 per cent only to come back as interim stake in each, at a crossroads. chairman in 2016 — other Either go big, by buying board members were neither state-run , for exam- familiar with nor keen to ple, or bow out before spilling address the needs of the busi- more red ink. The Tatas “are nesses, which prevented the caught between a rock and a two competing airlines from hard place”, said Mukund scaling up or placing mega Rajan, a former member of the plane orders to secure big dis- group’s executive council who’s counts, one said. now the chairman of a invest- ment advisory firm focused on Other struggles environment, social and gov- Airlines aren’t the only sector ernance issues. “The only in which the 152-year-old con- option to run a successful air- Ratan Tata after flying the US F-18 aircraft as a co-pilot during glomerate has struggled. line is to seek scale. This would the Aero India 2007 air show in Bengaluru REUTERS , which bought require the Tatas to deploy sig- Corus Group for about $13 bil- nificantly more capital than lion in 2007, said it’s reviewing they have. Absent ambition SINGAPORE AIRLINES, VISTARA SIGN its options to make the UK and scale, the prospects for suc- business self-sustaining. Tata cess are probably very remote.” COMMERCIAL COOPERATION DEAL Motors, which bought Jaguar India has been trying Singapore Airlines and Vistara have signed a commercial in 2008 for $2.3 bil- unsuccessfully to sell its cooperation framework agreement that will allow them to lion, has faced losses amid unprofitable national airline harmonise efforts in capacity planning, sales, marketing, joint intense competition, prompt- for years. Tata Group, although fare products, customer services and operations, an official ing Sanford C Bernstein ana- aviation only accounts for a statement said on Monday. The deal is an extension of a lysts to say BMW should buy small share of its total revenue, codeshare partnership between the airlines. "Strengthening the the “severely challenged” lux- is often pinpointed by local partnership will allow both to achieve further synergies on ury carmaker. The firms’ tele- media as the most likely suitor. services between Singapore and India, as well as in the key communications business was The government has regions of Southeast Asia, Australia, and New Zealand," the also mired in a $1.2-billion dis- repeatedly sweetened the airlines said. The commercial cooperation framework pute with Japanese firm NTT terms to woo buyers, but Tata agreement is subject to regulatory approval in Singapore. PTI Docomo, a disagreement that Group, which was previously was settled in 2017. evaluating the proposal, hasn’t the government refused to an end to it. Vistara has “If you take all the Tata said whether it will bid. allow a foreign entrant and deferred taking delivery of firms, their profitability record Tata’s airline predicament project was quashed. In 2000, some new aircraft as demand isn’t exactly brilliant. Only isn’t unique. Warren Buffett Tata again teamed up with slumps, delaying expansion. Tata Consultancy Services has exited his positions in all airline Singapore Air to bid for a stake But even before Covid a cul- been a consistent performer,” stocks this year saying the pan- in Air India when the then-gov- ture that saw both airlines run said Deepak Mohoni, founder demic may have fundamen- ernment sought to sell shares almost solely by the foreign of business consultancy tally changed the business. in the state-owned carrier. The partners was a key problem, Trendwatch India. “We really Richard Branson once said, “If plan was later dropped because according to people familiar have to ask, why are the Tatas you want to be a millionaire, of political opposition. with the inner workings of the trying to get into airlines in the start with a billion dollars and “Airlines are very compet- group’s aviation business. The first place? JRD nostalgia?” launch a new airline.” itive and capital intensive top management at both air- and running one is difficult,” lines were appointed by execu- Still there is hope First pilot said Shriram Subramanian, tives in Singapore or Malaysia But with a more focused But what sets the Tata Group founder of proxy advisory firm and struggled to implement a approach, the Tatas can still apart is its seemingly single- InGovern Research Services. business plan for India that succeed in aviation, according minded devotion toward mak- “Tata Group invested in two worked, they said, asking not to Vaniki Joshi Lohani, an asso- ing an airline work at any cost. with two different partners. It’s to be identified. ciate dean of the business Vistara and AirAsia India have not clear what the group was Representatives from Tata school at Jawaharlal Nehru never made money and have trying to achieve.” Group, AirAsia India, and University. Lohani, studying lost $845 million combined AirAsia India and Vistara Vistara declined to comment. Tata’s foray into airlines, said through March, according to have distinct issues. The fate of the group should make a play estimates from the CAPA the former, a low-cost joint ven- Five-star hotels for Air India. Centre for Aviation. ture with Malaysian tycoon In high-end restaurants “Tata should focus on cre- Even , who ’ AirAsia, around Vistara’s headquarters ating one low-cost airline in a succeeded Ratan Tata as the hangs in the balance after the near New , Singapore price-sensitive market,” she chairman but was later ousted, Malaysian group halted new Airlines-appointees would reg- said. “Operating expenses, raised the alarm, saying in an funding. Launched in 2014, ularly lunch together, creating taxes and regulations in India October 2016 letter that his AirAsia India vowed to make a culture of exclusion, two of may make full-service carriers pushback regarding a deal money within four months and the people said. Singapore unsustainable. Although Air with AirAsia was “futile”. planned to lure passengers Airlines, and not Vistara, India hasn’t made money Mistry was similarly dis- with cheap prices. But it faced reviews the annual perform- since a 2007 merger with pleased with the Vistara ven- cut-throat competition in a ance of people appointed by and is surviv- ture with Singapore Airlines. crowded market. the foreign airline, and the so- ing on a large taxpayer-funded For the $113-billion Tata In an interview Monday called “Singapore Airlines sec- bailout, a takeover would give Group, it’s also a question of on Bloomberg Television, ondees” also reside in five-star Tata overnight access to “hun- holding onto a rich heritage. Fernandes said AirAsia is eval- hotels and send their children dreds of trained pilots, a ready- Ratan Tata’s predecessor, J R D uating its airline venture with to the most-expensive schools, made fleet and an opportunity Tata, was India’s first licensed Tata Group, while the two com- the people said. to quickly expand in lucrative pilot and started Tata Airlines panies expand their relation- Those benefits were not airports in London and New in 1932 as the nation’s first car- ship in digital business. given to people appointed by York,” Lohani said. rier, flying mail between “At the right time we will the Indian group, they said. But Air also comes with a Karachi in then-undivided, make the announcements, but At AirAsia India, local highly bureaucratic structure, British-ruled India and definitely our strength is executives had to get Malaysia’s an unionised workforce and Bombay (Tata Airlines was lat- Southeast Asia and that’s approval for every decision branding complications. It’s er nationalised and morphed where most of our expansion until the end of 2018, before also not clear whether the gov- into Air India). is going to be over the next two Tata Group intervened after a ernment would allow a new When India began to allow to three years,” he said. series of corruption allegations buyer to let go of excess staff or private airlines in the early Vistara, started in 2015, tainted the brand’s image. scrap the legacy Air India brand. 1990s, Tata’s interest was pitched itself at the other end The CBI is investigating “Tata is obsessed with airlines,” piqued again. In 1994, the of the spectrum — a carrier Fernandes and other officials said Arun Kejriwal, founder of group came up with an ambi- with a business-class cabin on for allegedly paying bribes to investment advisory firm Kris tious plan to start an airline all planes. However, if video- influence policy. Both AirAsia Capital. “He’s not going give up with 100 planes in partnership tech limited the need for cor- Group and AirAsia India have on airlines so easily.” with Singapore Airlines, but porate travel, the pandemic put denied any wrongdoing. BLOOMBERG Jetwilltapunder-servedcargo biz:Jalan-Kalrockconsortium

PRESS TRUST OF INDIA “If everything goes according to plan Mumbai, 7 December and the consortium receives approvals on time, Jet would be back in the skies by The consortium of UAE-based business- the summer of 2021,” the consortium said. man Murari LalJalan and London's Jet 2.0 hubs will remain in Delhi, Kalrock Capital — which has won the bid Mumbai, and Bengaluru like before as the to revive — on Monday said revival plan proposes to support tier-2 it expected to start operating the airline and -3 cities by creating sub-hubs. by the summer of 2021. The consortium had evaluated start- The consortium is also planning to ing a new airline but some of the inherent increase cargo services to include ded- MAY START FLYING IN SUMMER OF 2021 strengths of Jet like optimal flight slots, icated freighter service, a market cur- brand value, and reputation for best-in- rently under-served by any Indian car- approved the airline’s revival plan sub- class in-flight service and safety, giving rier, it said, adding that given India’s mitted by the consortium in October. Jet Jet 2.0 an edge over others, were too position as a leading centre for global vac- was grounded on April 17 due to liquidity tempting to resist, the release said. cine manufacturing, cargo services have crisis and subsequently went into admin- The consortium has decided that it never been more required. istration in June 2019. would be advantageous to start Jet on a The consortium is awaiting the “Jet intends to operate all of its histo- clean slate with a tag of being the best National Company Law Tribunal’s and ric domestic slots in India and restart corporate full-service airline, it said. other regulatory approvals, including international operations. The Jet 2.0 pro- "We aim to re-energise the brand by reinstatement of slots and bilateral traffic gramme is aimed at reviving the past infusing energy, warmth, and vibrancy rights by the civil aviation ministry and glory of Jet, with a fresh set of processes into it while making it bigger and better," Directorate General of Civil Aviation. and systems to ensure greater efficiency Manoj Narender Madnani, board The committee of creditors (CoC) has and productivity across all routes.” member of the consortium, said.