PRESS RELEASE

nbcc-bestowed-ibc-awards

NBCC bestowed IBC awards

Hardeep Singh Puri, Union Minister (I/C) for Housing and Urban Affairs, gave away IBC Awards for Excellence in Built Environment 2017-19 to NBCC (India) Ltd., a Navratna CPSE, on January 6, 2020. P K Gupta, CMD, NBCC received the award at a function held at Vigyan Bhawan, New Delhi. The Award was bestowed on NBCC for execution of the iconic project - Dr. Ambedkar International Centre, New Delhi.

07 Jan 2020
csr-initiative:-ircon-distributes-appliance-to-divyangs-under

CSR Initiative: IRCON distributes appliance to divyangs under

Ircon International Ltd in association with ALIMCO distributed aids and appliances to various ‘divyangs’ in Muzaffarnagar district of Uttar Pradesh on December 28, 2019. CMD IRCON S K Chaudhary and Mrs Seema Chaudhary inaugurated the camp by the lighting of lamps.

Subhash Chand, Executive Director and S C Negi, GM/Elect IRCON, Alok Yadav, Chief Development officer, Shivendar Singh, District Handicapped Officer and officers of ALIMCO were also present on the occasion. Under this camp 177 beneficiaries were distributed aids and appliances like Wheel Chair, Hearing Aids, Motorized Tricycle, Crutches, MSIED Kit, Rollator, Walking Sticks and CP Chair.

During the camp, Mr Chaudhary and others distributed the aid and appliances to specially abled people. The beneficiaries were happy to get these appliances as these appliances would help them to face challenges of their lives in a better way. The beneficiaries expressed their gratitude towards CMD/IRCON for the aid and appliances.

02 Jan 2020
nbcc-bestowed-ibc-awards

NBCC bestowed IBC awards

By IndianMandarins 07 Jan 2020

Hardeep Singh Puri, Union Minister (I/C) for Housing and Urban Affairs, gave away IBC Awards for Excellence in Built Environment 2017-19 to NBCC (India) Ltd., a Navratna CPSE, on January 6, 2020. P K Gupta, CMD, NBCC received the award at a function held at Vigyan Bhawan, New Delhi. The Award was bestowed on NBCC for execution of the iconic project - Dr. Ambedkar International Centre, New Delhi.

csr-initiative:-ircon-distributes-appliance-to-divyangs-under

CSR Initiative: IRCON distributes appliance to divyangs under

By IndianMandarins 02 Jan 2020

Ircon International Ltd in association with ALIMCO distributed aids and appliances to various ‘divyangs’ in Muzaffarnagar district of Uttar Pradesh on December 28, 2019. CMD IRCON S K Chaudhary and Mrs Seema Chaudhary inaugurated the camp by the lighting of lamps.

Subhash Chand, Executive Director and S C Negi, GM/Elect IRCON, Alok Yadav, Chief Development officer, Shivendar Singh, District Handicapped Officer and officers of ALIMCO were also present on the occasion. Under this camp 177 beneficiaries were distributed aids and appliances like Wheel Chair, Hearing Aids, Motorized Tricycle, Crutches, MSIED Kit, Rollator, Walking Sticks and CP Chair.

During the camp, Mr Chaudhary and others distributed the aid and appliances to specially abled people. The beneficiaries were happy to get these appliances as these appliances would help them to face challenges of their lives in a better way. The beneficiaries expressed their gratitude towards CMD/IRCON for the aid and appliances.

union-home-minister-lays-foundation-stone-of-bharat-vandana-park

Union Home Minister lays foundation stone of Bharat Vandana Park

By IndianMandarins 26 Dec 2019

Union Home Minister Amit Shah, recently laid the foundation stone of Bharat Vandana Park at Sector 20, Dwarka, New Delhi. Minister of Housing and Urban Affairs (MoHUA) Hardeep Singh Puri; Lieutenant Governor of Delhi Anil Baijal; Lok Sabha MP Manoj Tiwari; DDA Vice Chairman Tarun Kapoor; NBCC CMD P K Gupta and other senior officials were also present at the occasion. The Multifaceted world-class theme park valuing approximately Rs. 524 crore is being developed by DDA. NBCC, the Navratna CPSE under the Ministry of Housing and Urban Affairs (MoHUA) has been appointed as Project Management Consultant for the project from concept to commissioning.

The company has been entrusted with the task of improving the urban landscape of Delhi by developing this sustainable green space with smart features for urban citizens of the city. To be developed over a land parcel measuring about 200 acres at Dwarka Sub-City, the multi-faceted project will be

developed with the theme of ‘Mini India’, showcasing the diverse culture and uniqueness from each State. Furthermore, the environment- friendly infrastructure will also have dedicated space for hosting cultural events, recreational activities, fun area, food courts, etc for visitors.

nbcc-signs-mou-worth-rs-2000-cr-with-otpc

NBCC signs MoU worth Rs 2000 Cr with OTPC

By IndianMandarins 21 Dec 2019

NBCC (India) Ltd, a Navratna CPSE under Ministry of Housing and Urban Affairs, has recently signed an MoU with Odisha Thermal Power Corporation Limited (OTPCL), Bhubaneshwar. Under the MoU, NBCC will carry out civil construction and various developmental works of Thermal Power Plant of OTPCL valuing approximately Rs. 200 crore. In presence of senior IAS officer Bishnupada Sethi, Commissioner-cum-Secretary, Energy Department, Government of Odisha and P K Gupta, CMD, NBCC, the MoU was signed by N K Shah, Director (Projects) on behalf of NBCC and Bhavani Panda, Chief Executive Officer on behalf of OTPCL.

pib:-some-changes-effected,-chaudhary-gets-mha

PIB: Some changes effected, Chaudhary gets MHA

By IndianMandarins 06 Nov 2019

To make information sharing of the government more effective, some of the Indian Information Service (IIS) officers have been relocated from their current assignment. Shambhu Nath Chaudhary, Director, has been transferred to Ministry of Home Affairs and he will report to Dr Vasudha Gupta, ADG (M&C). Chaudhary was looking after Ministry of Communication, Jal Shakti and Skill Development and Entrepreneurship.

Sharat Chander, earlier Director in PMO, has been entrusted with the responsibility of Ministry of I&B. Praveen Kavi (DD) will now look after Ministry of Earth Science, Science and Technology, Jal Shakti. He will report to K Shyama, ADG (M&C).

V Balakrishna (Deputy Director) has been given the responsibility of Ministry of Law and Justice, Electronics and Information Technology and Communication. He will report to B Narayanan ADG (M&C).

Sanjay Kumar Soni, Additional Director, has been given the responsibility of Ministry of Petroleum and Natural Gas, Skill Development and Entrepreneurship. He will report to Y K Baweja, ADG (M&C).

press-note-2(2018):-amazon,-flipkart-may-seek-extension-of-deadline

Press Note 2(2018): Amazon, Flipkart may seek extension of deadline

By IndianMandarins 05 Jan 2019

Following the issue of Press Note 2 of 2018 and subsequent clarifications by the DIPP, Amazon, Walmart owned Flipkart and other online marketplaces may seek an extension of the February 1 deadline to comply with recent changes in the foreign direct investment (FDI) rules for e-commerce as it entails overhauling their business model.

 

The first of these rules is that no vendor can have equity participation by the marketplace or its group companies. The second is that the inventory of a vendor will be deemed to be controlled by the marketplace if more than 25% of the vendor’s purchases are from the marketplace entity, including its wholesale unit. The marketplace entity or its group companies cannot have control over inventory under the FDI rules.

 

Amazon and Flipkart control inventory directly or indirectly. They purchase goods in bulk at cheap rates from manufacturers through their wholesale entities — Amazon Wholesale and Flipkart India Pvt Ltd — and sell them on the marketplaces through preferred sellers, which are companies in which the e-commerce company or a group entity may have an equity stake.

 

For example, Cloudtail is fully owned by Prione Business Services, which is a 49-51 joint venture between Amazon and InfosysNSE -1.21 % founder NR Narayana Murthy’s Catamaran India. There are several such companies. Flipkart has five large sellers that buy all their products from its wholesale unit.

 

The preferred sellers account for 70-80% of the total sales of the marketplaces. The two companies are formulating their strategies and are likely to present their case to the government separately.

 

The US-India Strategic Partnership Forum (USISPF) has said that the amendments will hurt consumers.

dipp-clarification-regarding-press-note-2-(2018)

DIPP Clarification regarding Press Note 2 (2018)

By IndianMandarins 05 Jan 2019

The DIPP has clarified that its Press Note 2 (2018) has only reiterated the policy provisions to ensure better implementation of the policy in letter and spirit as contained in Press Note 2 of 2000 and Press Note 3 of 2016.

 

An official communique issued by the PIB said the FDI policy on e-commerce, first pronounced through Press Note 2 of 2000, permitted 100% FDI in B2B e-commerce activities. With a view to clarifying the already existing policy framework, after extensive stakeholder consultations, Press Note 3 was issued by DIPP in 2016. B2C e-commerce, that is multi-brand retail through the inventory-based model, has all along remained prohibited for FDI. Through the latest Press Note (2/2018), the Government has only reiterated the earlier policy provisions.

 

The communique pointed out that as FDI is allowed only in B2B e-commerce, it was provided in Press Note 3/2016 that, an e-commerce entity providing marketplace will not, directly or indirectly, influence the sale price of goods or services, which also renders such business as an inventory based model. However, Government continued to receive complaints that certain marketplace platforms were violating the policy by influencing the price of products and indirectly engaging in inventory based model. An e-commerce platform operating an inventory based model does not only violate the FDI policy on e-commerce but also circumvents the FDI policy restrictions on multi-brand retail trading. Therefore, latest Press Note on FDI policy on e-commerce sector was needed to ensure that the rules are not circumvented.

 

It further clarified that certain averments suggest that Press Note 3/2016 had covertly allowed multi-brand retail trading. Such a view is completely contrary to the specific provisions of Press Note 3/2016, which unambiguously provided that FDI is not permitted in inventory based model of e-commerce which amounts to multi-brand retail.

 

Fair, competitive and transparent business practices which are in compliance with the law will better protect consumers in both short as well as medium and long-term.

The present policy does not impose any restriction on the nature of products which can be sold on the marketplace.

 

The communique added that Press Note 2/2018 is applicable only to entities which operate a marketplace for e-commerce. FDI in other sectors continues to be governed by the specific provisions pertaining to them. For instance, there is no change in the FDI policy on food product retail trading, which permits 100% FDI under the approval route, including through e-commerce, in respect of food products manufactured and/or produced in India.

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.