Pro Fin Capital To Monetise Vast Reserves of Bauxite in Kolhapur

Pro Fin Capital To Increase Stake In TERA

Mumbai: Pro Fin Capital Services Ltd. (PROFINC) (BSE: 511557), the leading financial solutions and services provider has intimated the Bombay Stock Exchange (BSE) that it has decided to acquire 80 per cent of the equity capital of Tera Natural Resources and Pellets Private Limited (TERA) in due course. TERA, the bauxite mining company is an existing subsidiary of PROFINC which presently holds 46.92 per cent of its equity capital. The move, on part of PORFINC, is aimed at expanding its decision making ability in TERA and to mobilize the vast reserves of bauxite for which the company has obtained necessary approvals for mining.

TERA commenced commercial operations for bauxite mining in the Kolhapur District of Maharashtra, sometime in the first week of July 2015. The total reserves of bauxite in the mines are estimated to be 25 million tons.

“We are pleased with the positive development with TERA, so far and this move will further reinforce our belief in the market potential for bauxite. TERA has obtained necessary approval from the Office of the Director General of Mines for bauxite mining and the commercial contracts for selling the bauxite are in place,” says Mr. Anupam Gupta, Chairman, Pro Fin Capital Services Ltd.

PRO FIN CAPITAL SERVICES LTD.: Profin Capital is one of the leading providers of solutions and services in the realm of financial sector. Promoted by a group of professionals, Profin Capital has grown consistently since inception. The Mumbai based Pro Fin Capital Services was incorporated in 1991 and since then has evolved as a services company with a focus on underwriting and marketing IPOs.

HRAWI ORGANIZES A ‘REVENUE MANAGEMENT’ SEMINAR FOR HOTELIERS & RESTAURATEURS

Maximizing Revenues For A Stagnating Hospitality Sector

Mumbai: As part of the initiatives taken for the benefit of hoteliers and restaurateurs, the Hotel and Restaurant Association of Western India (HRAWI) had organized a special seminar on Revenue Management for hotels to counter the revenue decline in the sector and maximize their yields. The seminar was organized recently at The Trident hotel, Mumbai. The session was addressed by Mr. Tarun Joukani, Marketing Manager, Staah, Mr. Saurabh Tiwari, Revenue Manager, Trident Hotels and Mr. Abhishek Logani, Director and Business Head, MakeMyTrip. The three speakers have varied experience in their respective domains and specialize in the revenue management matters.

“Revenue management is the practice of maximizing a hotel’s revenue while selling the same amount of products or services. Also called yield management, some consider it both an art and a science. It employs a mix of pricing strategies and systems to maximize yield. However a lot of hotels have not yet made the leap in driving their direct sales and bottom line profit. This is where the real challenge lies for revenue managers in the next few years,” said Mr. Bharat Malkani, President, HRAWI.

Mr. Tiwari who has a rich experience in this field made a presentation on the Revenue Management aspect from the perspective of hotel operations. He highlighted and stressed on hotels optimizing the available resources and making the best of the available means to keep the business viable.

“The objective of Revenue Management is to sell the right product to the customer at the right time and for the right price. Hotels face important decisions regarding what to sell, when to sell and for how much, especially in this constrained economy. Revenue Management uses data-driven tactics and strategies to answer these questions in order to increase revenue,” said Mr. Kamlesh Barot, past president, HRAWI.

About Hotel & Restaurant Association Western India (HRAWI)

The Hotel and Restaurant Association (Western India) is a 65 years old Association of Hotels and Restaurants in Western India. Its members include smaller Hotels up to 5-Star Deluxe categories. The bulk of its members like any growth economy are made up of budget hotels. With around 1300 members across Western India, HRAWI covers Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Goa and the Union Territories of Daman, Diu & Silvassa, and is considered to be the voice of the Hotel Industry. The association is part of the national body of Federation of the Hotels & Restaurants Associations of India (FHRAI), located in New Delhi, which was originally founded in Mumbai in 1950 by the late Mr. J.R.D. Tata.

NEEM – A SINGLE SOLUTION TO A SUSTAINABLE FUTURE

Neem – A Single Solution To A Sustainable Future

·        Neem Foundation’s Constant Advocacy Has Brought About Many Changes In The National Agenda & Government Programs

·        Government Of India Has Permitted Fertilizer Firms To Produce 100 Per Cent Neem Coated Urea Which Will Help Farmers Boost Income And Reduce Subsidy Bill Up To Rs.6,500 Crore

·        Held Three World Neem Conferences That Helped Neem Get World Wide Acceptance

·      Consistent Research & Studies Helped Prove That Neem Is A Potential Source For Natural, Biodegradable And Safe Pesticides Par Excellence.

·        It Also Investigated Neem Tree’s Chemical Profiles, Pesticidal And Medicinal Properties, Its Potential As A Slow Release Fertilizer And Several Other Useful Traits Including Air Purifier.

Since 1993, the Neem Foundation has been striving to promote the Neem Tree as a sustainable solution to global ecological and health concerns. The foundation’s effort has resulted in a very recent and important development that is an equivalent to crossing a milestone in its journey in establishing Neem on a big scale. The government of India allowed fertilizer firms to produce 100 per cent neem coated urea which will help farmers boost income and reducing subsidy bill up to Rs.6,500 crore. The government has in fact made it mandatory to produce at least 75 per cent of urea domestic production neem based. To further provide impetus to utilize neem, the foundation will campaign a plantation of two crore Neem saplings along with petitioning for the Neem tree to be accorded the status of a ‘National Tree’ of India.

Neem Foundation is a forum for unifying global efforts to research and promote the use of the Neem tree and its derivatives in both natural and product forms. The Foundation is funded by the Government of India for implementing specific projects for the Ministry of Chemicals & Fertilizers, Ministry of Agriculture, among others. The Foundation encourages Neem based enterprises and several renowned companies are associated with the Foundation through Corporate Membership. However, the Foundation has no commercial interests in any company or business and remains a not-for-profit forum for the cause of promoting of Neem.

On this backdrop, the Neem Foundation is embarking on some very grand plans and definitive programmes in the immediate future. For more information, kindly contact us.

“BOX OFFICE SUCCESS OF MOVIES LIKE ‘SHUTTER’ IS A COMING OF AGE FOR MARATHI CINEMA” – Manisha Korde

Shutter Enters 3^rd Week 

Mumbai: When popular Bollywood writer Manisha Korde was approached to write and adapt cult Malayalam film Shutter into Marathi, she was, initially, skeptical about its mass appeal. While she was certain that the film would draw critical acclaim, she had felt it might not ride the gravy train at the box office.

Manisha Korde, Script Writer

“Even though the history of Marathi cinema is as old as history of films in India, the last few decades have not been encouraging. Just like ‘Raja Harishchandra’, while Marathi filmmakers experimented with new and bold themes, they did not evoke proportionate response at the box office. Critical acclaim was plenty, but without finances it always would have been difficult for good story telling culture to survive. Many films that I personally thought were brilliant and should have been blockbusters only aroused lukewarm interest,” says Manisha Korde, writer of Shutter, starring Sachin Khedekar, Prakash Bare and Sonalee Kulkarni among others. The original film in Malayalam of the same name was written and directed by Joy Mathews.

“It was only after 2005 that critically acclaimed movies also started making an impact at the box office. Movies like Shwas, Natrang, Balak Palak, Prem Mhanje Prem Mhanje Prem Asta, to name a few, became huge success. Not merely from the point of view of commercial viability of Marathi cinema, the success of good films also go on to the building of a strong foundation and thereby, defines the coming of age of Marathi cinema. The high quality of popular Malayalam cinema is a direct consequence of the foundation laid by films with tight grammar and parsing by makers like Aravindan, Adoor Gopalakrishnan and John Abraham in the 80s,” she adds

Shutter starring Sachin Khedekar, Prakash Bare and Sonalee Kulkarni among others became a runaway success after it hit the screens on 3^rd July. It managed to maintain its ground in Mumbai and Pune against big releases and continues to be the primary choice for cinegoers in the rest of Maharashtra.

“Shutter is a film that is simple and straight on the face of it, but has a very sensitive undertone. The nuances are not very apparent. So I am glad, not just for myself and other Shutter team members but also for the future of Marathi cinema, that the audience has enjoyed a film like this and have given it a huge thumbs up,” concludes Manisha Korde.

One of the leading film writers in India today, Manisha Korde has scripted films like Malamaal Weekly, Dhol, Bhool Bhulaiyyaa, Billu, and Bumm Bumm Bhole, among others. In 2013, she wrote her first Marathi film Prem Mhanje Prem Mhanje Prem Asta. Shutter is the second film in her native language and for which she won the Best Screenplay Award at the Mumbai International Women’s Film Festival.

VEKA INDIA ON AN EXPANSION DRIVE

VEKA India On An Expansion Drive, Introduces A New Range Of Window & Door Profiles

Mumbai: VEKA India, a subsidiary of VEKA AG – the world’s second largest manufacturers of uPVC windows and doors systems today announced the introduction of a new range of profiles system in the Indian market. Categorized into two segments viz. VEKA Premium and VEKA Projects, the new range will stock the most extensive selection of windows and doors to match the design and utility functions of India’s evolving life spaces. The company which marked ten successful years of operations in India recently also announced its bid an additional 3 – 5 per cent of market share with this move.

The new offering, a system specifically for residential projects in India, has been custom developed to cater to the requirements of urban living and will be available in all major cities including NCR, Jaipur, Lucknow, Ahmedabad, Mumbai, Pune, Goa, Hyderabad, Vizag, Bangalore and Chennai.

Today, uPVC is the popular choice for windows and doors in all of Europe and America. Being rigid, durable and recyclable besides being cost-effective, this material is fast replacing the traditional wood or aluminium profiles across the world.

Mr. Rajesh Chawla, Director,
VEKA India

“We recently completed ten successful years of operations in India and over the years there has been a marked rise in the uPVC windows and doors market. With uPVC the precision that can be achieved for window and door contours is unmatched with any other material. The welds at corners form monolithic joints for frames which are impossible to achieve with the traditional systems. A decade ago this vertical was not even considered an important aspect of design function. However today, construction which is detail driven, cannot afford to ignore this aspect,” says Mr. Rajesh Chawla, Director, VEKA India.

VEKA India has a strong network of partners in all of north, west and south India. The company operates a warehouse for its partners to easily and timely procure and supply profiles to customers.

“Since our inception in India, we’ve built an integrated team and a robust network of partners at VEKA India. We invested a significant amount of time in identifying potential markets and penetrating these markets with the right people on our side is a boon. Presently, we are best aligned with the Indian markets by factoring in all conditions that are endemic to India. This includes the weather, noise, cost, perceived value, reach and most importantly after sales service. With our latest range we hope to extend both choice and innovation to our customers and we are positive our profiles will be the future of window and door installations,” concludes Mr. Chawla.

About VEKA India: In India, the company started operations in Gurgaon – Delhi NCR a decade ago. Today, VEKA India is vendor to some of the leading companies and has provided uPVC window and door systems to India’s premier and well-designed homes and offices. Its 20,000 sq. ft. facility in Navi Mumbai houses a state-of-the-art warehouse and distribution set up, a fabrication training workshop and a Window Testing rig along with an application centre. VEKA India, as a part of the worldwide VEKA Group, remains a wholly family-owned business, just as it has always been since its foundation in 1967.

About VEKA AG: A US $ 1.4 Billion Group company with its origins in Germany, VEKA has been a leading player in the uPVC industry for almost as long as the material has been used for door and window frames. The Group employs more than 3600 people through 25 subsidiaries in three continents around the world. Its manufacturing facilities are spread across Germany, Great Britain, France, Spain, Poland, USA, Russia, Mexico, China & Malaysia. The VEKA Group generated US $ 896 million turnover in 2013. Internationally, more than 2200 fabricators use VEKA systems to create top-quality uPVC products.

HRAWI UNANIMOUS WITH FSSAI; HOPES FOR THE UNORGANIZED PLAYERS TO BE WITHIN FSSAI’S PURVIEW

FBOs To Be Better Regulated With FSSAI’s Restructuring

Mumbai: The Hotel and Restaurant Association of Western India (HRAWI) has advocated the restructuring of Food Safety and Standards Authority of India (FSSAI) to further strengthen its functions and to better regulate the Food Business Operators (FBOs) in the country. As specified by FSSAI, 04th August 2015 is the last date to acquire licenses to operate FBOs. HRAWI has appealed to the FBOs to obtain licenses and be acquiescent with FSSAI’s guidelines prior to the deadline.

The HRAWI has also expressed apprehension concerning the large unorganized FBOs and FSSAI’s role and reach to keep these in its purview.

“The fact that FSSAI will have a much better and robust infrastructure is good news not just for the hospitality industry but for the common man who consumes outside of home. We are glad that the Health Ministry has stepped up and we support the call unanimously. However, there is also the unorganized part of this sector that needs to be kept in FSSAI’s ambit. Our concern remains that street vendors and eateries which are non-compliant to standards, continue to operate and could pose serious health hazards,” says Mr. Bharat Malkani, President, HRAWI.

There are approximately 250,000 road-side eateries in Mumbai, serving anything from vada-pav to tandoori chicken. They operate on the footpaths or above gutters with indigenously built stalls and they use the nearest source of water to wash or rinse their utensils.

“We suspect if these eateries have licences to operate a business let alone having the licence to serve food. Maintaining cleanliness and hygiene are a distant dream and yet they continue to thrive. By running businesses without licenses they are discounted on taxes. Obviously they are making profits and eating into businesses of the certified FBOs and most importantly they are a threat to health,” adds Mr. Malkani.

“At present, the industry is so hard-pressed with taxes that new investors are keeping away from the business. Old hotels are finding it difficult to survive. In the scenario, FSSAI’s intervention will help the industry in the long run. We hope that there will be a hard check on eating joints for licenses and defined food safety standards which will not only restrain illegal operations of FBOs but will also help to regularize the standards of the Indian food industry on a whole,” concludes Mr. Malkani.

The HRAWI has also indicated that they may schedule a training session shortly for FBOs who seek guidance on the matter.

About Hotel & Restaurant Association Western India (HRAWI)

The Hotel and Restaurant Association (Western India) is a 65 years old Association of Hotels and Restaurants, representing majority of Hotels and Restaurants across Western India, which covers Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Goa and the Union Territories of Daman, Diu & Silvassa and is more or less considered to be the voice of the Hotel Industry / Fraternity. The four Regional Associations form a part of the “Federation of Hotel & Restaurant Associations of India” (FHRAI) at the centre in New Delhi, which is our parent body. The Association is part of the national body of the “Federation of Hotel & Restaurant Associations of India”, which was originally founded in Mumbai in 1950, by the late Mr. J.R. D. Tata.

HRAWI BACKS HEALTH MINISTRY'S PROPOSAL, ADVISES MEMBERS TO BE FSSAI COMPLIANT

FBOs In Favour Of Health Ministry’s Proposal To Revamp The Food Regulatory Structure

Mumbai: The Hotel and Restaurant Association Western India (HRAWI) has backed the Health Ministry’s proposal to the Union Cabinet for revamping the food regulatory structure in the country. In a recent communication, the association has asked its members to be fully co-operative with the Food Safety and Standards Authority of India (FSSAI) and expedite completing the process of seeking conversions and renewals for existing license or registration.

The health Ministry has sent a Rs 1,700-crore proposal to the Union Cabinet for a major overhaul of the food regulatory structure. The objectives of the proposal are to strengthen the states’ inspection apparatus, bolster the FSSAI’s manpower, give the FSSAI more powers and ensure that the authority has access to state-of-the-art technology.

Bharat Malkani, President, HRAWI

“The HRAWI has always been a proactive institution when it comes to adopting safety and hygiene standards in the industry. We have always worked as a partner with the government in the interest of hospitality and tourism in the country. There is a big need to reform the regulatory structure because inconsistencies in food safety and standards are serious issues and if not addressed, will negatively affect the image of tourism in the long run. We fully back the Health Ministries’ proposal and wish to assert its importance to the Union Cabinet,” says Mr.  Bharat Malkani, President, HRAWI.

The FSSAI has assigned August 4^th, 2015 as the deadline for obtaining Food Business Operator (FBO)’s license for all food businesses, from roadside eateries to restaurants. The deadline is applicable for FBOs seeking conversions and renewals for existing license or registration under a repealed order.

“We are grateful to the FSSAI to have given FBOs time to comply with the required standards in order to obtain the licenses. It is a herculean task to incorporate the changes in procedures and protocols but we understand the need for it and are doing everything it takes to meet the deadline,” adds Mr. Malkani.

“In fact to carry out due diligence at the primary level, we have set up a non-commercial food testing laboratory in Vadodara that follows global standards of food safety and hygiene. This benefits thousands of FBOs including bakery federations, catering associations, food retail traders and mithaiwala associations, among others in testing their products. This arrangement provides the kind of service that also helps hoteliers maintain standardised practices and helps keep up with the standards required to be maintained by the food authorities. The end objective is to ensure that there is no negligence with regards to food safety and hygiene. We hope to achieve this standard across the country and will support the food authority in this endeavour,” concludes Mr. Malkani.

About Hotel & Restaurant Association Western India (HRAWI)

The Hotel and Restaurant Association (Western India) is a 65 years old Association of Hotels and Restaurants, representing majority of Hotels and Restaurants across Western India, which covers Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Goa and the Union Territories of Daman, Diu & Silvassa and is more or less considered to be the voice of the Hotel Industry / Fraternity. The four Regional Associations form a part of the “Federation of Hotel & Restaurant Associations of India” (FHRAI) at the centre in New Delhi, which is our parent body. The Association is part of the national body of the “Federation of Hotel & Restaurant Associations of India”, which was originally founded in Mumbai in 1950, by the late Mr. J.R. D. Tata.