HEXA TRAD : Voluntary Delisting

s parts of India on Thursday report-

ed violent protests against the pro-

Aposed Agnipath recruitment sys-

tem for the armed forces, political parties

and former soldiers pleaded with the gov-

ernment to revise the scheme. Among

them were ruling party MP from Pilibhit,

Varun Gandhi, and supporter of govern-

ment and its alliance partner, former

Punjab chief minister Amrinder Singh.

As violent protests raged in multiple

states, the government issued a clarifica-

tion, asserting that the new model will not

only bring in fresh capabilities to the

armed forces but also open up avenues for

youth in the private sector and help them

become entrepreneurs with the aid of the

severence package they will be entitled to

Security personnel investigate after some people set a train on fire to protest against

on retirement.

the 'Agnipath' scheme, at Chapra Railway Station on Thursday

PHOTO: PTI

In Opposition-ruled states like

Rajasthan and Bharatiya Janata Party

Support Agniveers after

(BJP-) governed Uttar Pradesh, Himachal

Pradesh, and Haryana, the anger of unor-

ganized groups of young people was evi-

tenure: FinMin to PSBs

dent. Trains were set on fire in several

places in Bihar, where the BJP is part of

the governing alliance, youngsters came

out on railway tracks, and small knots of

NIKUNJ OHRI

PSBs, insurance companies and finan-

boys protested in Gaggal, Himachal

New Delhi, 16 June

cial institutions to identify ways to sup-

NOTICE

FOR POSTAL BALLOT AND E-VOTING INFORMATION

Members of Techno Electric

& Engineering Company Limited

(the "Company") are

hereby informed

that

the Company is seeking

the consent of

Members

by way of

Resolulion/sthrough

Postal

Ballot including voting by electronic means for

the Items

containedintheNotice.Thed

ispatchofNotice,ExplanatoryStatementandPostalBal lot

Form (the "Postal Ballot Documents") completed

on 16.. June, 2022 in complia nce with

2013, read

together

with Rule 22

of

the Companies

{Management and Administration)

Rules, 2014 and Regulation 44 of

Secunties

and

Exchange

Board of India

(Listing

Obligations

and Disclosure Requirements)

Regulations, 2015 as amended from

time to

lime

('SEBI LODR, 2015") and Secretarial

Standard

on General Meetings ('SS-2') issued

bythelnstituteofCompanySecretariesoflndiaandotherapp

hcabl e provisions, to all

members

whose

names appear

as members/beneficial owners in the

Compan y's

RegisterofMembersltherecordsofthede pository,ason10"June,2022

The

Board

of Directors of the Company has

appointed Shri

Amarend ra

Kumar

Rai,

Practicing

Company Secretary

(CP No. 9373),

Amarendra

Rai & Associates,

as

ForTechnoElectric&Engineeri ngCompanyltd.

Place:Kolkata

(NiranjanBrahma)

Date: 16.06.2022

CompanySecretary(A-11652)

Securities will be

issued for a minimum nominal

amount

of

Rs.10,000/- and multiples of Rs.10,000/- thereafter.

Auction which

will be yield/price

based under multiple price

format will

be

conducted by Reserve Bank of India at Mumbai Office

(Fort)

on

June21,2022.

4.

The yield percent per annum expected by the bidder should be

expressed up to two decimal points. An investor can submit more

than one competitive bid at different rates in electronic format on

the Reserve

Bank

of India Core Banking

Solution (E-Kuber)

System. However, the aggregate amount of

bids submitted by a

personshouldnotexceedthenotifiedamount.

5.

The result of auction will be displayed by Reserve Bank of India on

its website on June 21, 2022. Success ful bidders should deposit

the price amount of

Stock covered by their bids by means of a

Bankers' Cheque or

Demand Draft payable at Reserve Bank of

India, Mumbai (Fort) or Chennai on June 22, 2022 before the close

of banking hours.

6.

The Government Stock will bear interest at the rate determined by

Reserve Bank of India at the auction and interest will

be paid half

yearly on December

22 and June 22. The Stock will

be governed

by the provisions of

the Government Securit ies Act, 2006 and

Government Securities Regulations, 2007.

7.

The stocks will qualify for ready forward facility.

8.

For other details please see the notificat ions of Government of

Tamil Nadu

Specific Notifica tion 611(L)/W&M- ll/2022, dated

June16,2022.

N. Muruganandam

Additional Chief Secretary to Government,

DIPR/582/Display/2022

Finance Departme

nt, Chennai - 9.

Pradesh, during a visit of the Prime

port Agniveers on completion of their

Minister Narendra Modi to the state.

The Union government has asked pub-

tenure of duty.

Himachal Pradesh, a major catchment

lic-sector banks (PSBs), public-sector

To support Agniveers, banks would

area for recruitment, is due for Assembly

insurance companies, and other finan-

explore possibilities of providing credit

elections later this year. In Haryana, the

cial institutions to support Agniveers

facilities for skill upgradation, educa-

government suspended internet services

with employment and credit facilities on

tion, setting up businesses through var-

for a day to prevent the rage from spread-

completion of their duty tenure.

ious central government schemes such

ing. Despite that, Rewari and adjoining

The Agnipath scheme, cleared by the

as MUDRA, Stand Up India, among oth-

areas saw protests.

Union Cabinet on Tuesday, aims to

ers. All PSBs, insurance companies, and

Almost all opposition political groups

recruit Indian youth for armed forces

financial institutions have also been

asked the government to review the pro-

for a period of four years, and terms the

asked to explore employment opportu-

cedure. While Bahujan Samaj Party (BSP)

prospective candidates as Agniveers.

nities in suitable capacities based on

leader Mayawati asked the government to

Department of Financial Services

their educational qualifications and

take back the recruitment system, senior

(DFS) Secretary Sanjay Malhotra on

skills, said a statement by the finance

Congress leader P Chidambaram said the

Thursday held a meeting with heads of

ministry.

scheme is "controversial, carries multiple

risks, subverts the long-standing traditions

and ethos of the armed forces." He said

- destruction of government property,

the scheme. Tarkishore Prasad, Bihar's

the scheme appears to make a mockery of

attacks on ruling party MLAs (a Bihar

BJP deputy chief minister, said: "I don't

training and will induct ill-trained and ill-

woman MLA was attacked in her car and

think our youth understood the scheme

motivated soldiers into the forces. "We fear

narrowly missed injury). The crux of the

properly or are confused." He also said

that the scheme may turn out to be a case

anger seems to be that the government is

both the state and the Centre are serious

of penny wise and security foolish," he

taking away employment, not creating it.

about their induction into the scheme.

said. Rashtriya Janata Dal leader Tejaswi

In the Uttar Pradesh elections earlier this

The Ministry of Defence sought to clear

Yadav said: "How will the country be safe

year, 'bharti' (recruitment) was a big issue.

up 'myths' about the scheme by clarifying

if its brave soldiers are insecure of the gov-

Popular demand in many areas was

the doubts of the veterans that caste-based

ernment and its policies?" Rahul Gandhi,

that after delaying recruitment by two

regiments that pride themselves for their

too, said the scheme should be taken back.

years due Covid-19 (as recruitment

martial traditions like the Gorkha, Jat,

The anger of prospective soldiers was

involves large rallies that could have

Sikh, Rajput, and Madras regiments would

on many counts: one set said they had tak-

become super-spreader events), the gov-

cease to exist as the Army would transition

en the written examination which they

ernment should now raise the recruitment

into an all-class one; and explaining that

had cleared but had been unable to clear

age. It was widely expected that the gov-

four years was enough to provide adequate

the physical exam because the govern-

ernment would, at the least, double recrui-

levels of training to turn boys into soldiers.

ment had suspended recruitment rallies.

tments to make up for the two lost years.

However, this still does not address

Another said they had crossed the age of

Instead boys preparing for the exams

serious doubt, discontent and disappoint-

recruitment because the government had

by training-viral videos show them jog-

ment, even among serving soldiers, who

suspended rallies. All of them said they

ging and they work to earn a living with

did not mince words about the policy.

felt cheated that they would henceforth

the aim of joining the armed forces - feel

Requesting anonymity, they said incentive

Corporate ldentificaticn

Number (CIN)

L51101 UP201 OPLC042382

Registered Office A 1 Nandgaon

Road

UPSIDC Industrial Area

Kosi Kalan Mathura 281 403 Uttar Pradesh India

Corporate Office

Jindal

Centre

12 Bh1ka11 Cama Place

New Delhi - 1 1 0 066 India

Phone No

" ' 9 1 1 1 2618 8360 Fax +91

1126170691

1

DateofmeetingoflDC

June16,2022

2

NameoftheCompany

HexaTradexlimited

3

Details

of

the

Delisting

Voluntary

Delisting

Offer

made by the Acquirers.

along with

members of the Promoter

and Promoter Group, to acquire

Offer

perta

ining

to the

2,03,73,648 (Tw o

Crore Three Lak hs Seventy

Three Thousand Six Hundred Forty

Eight) equity shares representing

Company

36.88% (Thirty Six decimal Eight Eighl perce nt) of the Listed Gapita l of the Company from the Public Shareholders and

consequ ently, voluntarily delis! equ ity shares of the Company from BSE Limited ("BSE") and National Stock Exchange of

India Limited ("NSE") (BSE and NSE collectively referred

to as 'Stock

Exchanges')pursuant to the

SEBI Delisting

Regulation s

Floor Price: Rs. 153.16 (Indian Rupees

One Hundred Fifty Three and Sixteen

Paise) per equity share ("Floor Price").

Indicative Price: Rs.156.00 (Indian Rupees One Hundred Fifty

Six) per equity share ("Indicative Price").

The IDC reviewed the following documents·

(i) Initial

Public

Announcement dated March 12, 2022

(the "IPA") read with

corrig endum to

the initial public

announcement dated March 14, 2022 ('Corrigendum to the IPA");

(ii) Detailed PublicAnnouncementpu blished on June 10, 2022 (the"DPA"); and

(iii) Letterof0fferdatedJune10,2022(the"LOF").

4 NameoftheAcquirer and

Siddeshwari Tradex Priv ate Limited,

lnnox Global Multiv entures Private Limited, Opelina Sustainable Services Private

PAC with the acqu ire,

Limited and JSL Limited, alongwith the Promoter and Promoter

Group of the Company.

5

Name of the Manager to

SundaeCapitalAdvisorsPriv atelimited

the Offe r

SEBI Regn.No.: INM0000

12494

Level 11, Platina, Plot No C • 59, 'G' Block Sandra Kurta Comp lex, Sandra (East) Mumbai· 400 051, Maharash tra, India

Tel.No."'919667659191

be able to join the forces for just four years.

cheated that they will not get the oppor-

to serve on the border, risking life and limb

Their frustration and anger boiled over

tunity to be called a 'soldier'.

would be much lower if the soldier knew

into the open and took the form of violence

Several in the government defended

he would be out in four years.

> FROM PAGE 1

Both indices have declined

out. On a year-to-date basis,

impact on energy and food

7 per cent after the five consec-

India's m-cap is down ~27 tril-

prices.

INDICES...

utive days of fall and have end-

lion to ~239.2 trillion. Foreign

ed at levels last seen in May last

investors sold shares worth

ADVANCE TAX...

year. On Thursday, over ~5.5

3,257.65 crore on Thursday, tak-

Fed's steep rate hike

trillion of market cap got wiped

ing their year-to-date selling

Tax collection, direct and indi-

tally past the ~2-trllion mark.

rect, had been projected at

The US markets were trad-

~27.58 trillion in the Budget

> BS SUDOKU

# 3692

ing in the red as of 9 pm IST on

Estimates (BE) in FY23. That

Thursday, with the Dow Jones

represents 9.6 per cent growth

and the S&P500 falling 2.3 per

over the ~25.16 trillion estimat-

7

1

9

cent and 3 per cent, respective-

ed in the Revised Estimates

ly. The tech-heavy Nasdaq was

(RE) in the previous year.

1

8

6

down 3.7 per cent. "We contin-

"The revenue loss to the

ue to believe that when push

Centre after the excise duty cut

6

3

7

comes to shove, the Fed com-

is estimated at ~86,000 crore in

promises, pushing

up the

the remainder of FY23 after the

unemployment rate more than

duty cuts. Given the robust

4

8

their forecast assumes and

trends for April-May 2022, and

accepting underlying inflation

the anticipation of sustained

3

5

2

of up to 3 per cent," Ethan

healthy momentum of activity,

Harris, global economist, BofA,

we expect Central goods and

5

said in a note. The Fed's expan-

services tax inflows in FY23 to

1

9

sion of balance sheet and low

overshoot the BE by ~1.15 tril-

rate setting in the wake of the

lion. Assuming 14 per cent YoY

2

8

pandemic in March 2020 had

growth in FY23, direct taxes are

led to a massive rally in risky

expected to surpass the FY23

8

3

4

assets. The Fed's move to

BE by ~2.0 trillion, " said Aditi

stamp out inflation is leading

Nayar, chief economist, ICRA.

to a sharp reversal in fortunes.

City-wise collection

4 6

"There is no precedent of

the liquidity pump which has

Most cities posted a growth rate

happened in the last two-three

of 30 per cent and above in

SOLUTION TO #3691

years. More than interest rates,

direct tax collection in the first

3

6

5

4

7

1

9

2

8

Very difficult:

it is the liquidity withdrawal

quarter - Mumbai (60 per

which is affecting sentiment.

cent); Bengaluru and Delhi (56

1

2

7

9

8

3

5

4

6

SOLUTION

The doubling of the indices was

per cent); and Chennai and

8

4

9

5

6

2

1

7

3

fuelled by liquidity," said UR

Pune (40 per cent). Advance

TOMORROW

Bhat, co-founder of Alphaniti

tax is paid in four instalments

4

1

2

6

9

8

3

5

7

Fintech. While speaking to

rather than at the end of the fis-

9

8

3

1

5

7

4

6

2

HOW TO PLAY

reporters on Wednesday, Fed

cal year. It is considered an

5

7

6

2

3

4

8

1

9

Fill in the grid so that

Chairman

Jerome

Powell

indication of economic senti-

maintained

that the Fed's

ment. The first instalment, or

every row, every col-

6

5

1

3

2

9

7

8

4

objective is to bring inflation

15 per cent, is to be paid by June

umn and every 3x3

7

9

4

8

1

6

2

3

5

down, and

conceded that

15, the second by September 15

box contains

many factors beyond its con-

(30 per cent), the third by

2

3

8

7

4

5

6

9

1

the digits 1 to 9

trol are in play, such as the

December 15 (30 per cent), and

Russia-Ukraine war

and its

the rest by March 15.

NameofthelndependentDirectors

Position in Committee

Dr. Raj Kamal Aggaiwal

I

Chairperson

Dr. VinitaJha

Member

Shri Ravinder Nath Leekha

Member

The members of the IDC are Independent Directors on the Board

of Directors of the Company

(i)

during the 12 (Twelve) months period

preceding the date of the IPA; and

(ii)

in the period between the date of the

IPAand the date of thts recommendation i.e. [June 16, 2022].

Offer. on

behalf of Acquirers and cerufica

te computing the Floor Price,

daled March 21, 2022,issued by Mr. Abhinav

Agaiwal,

RV FCS, Registered Valuer & Corporate Law Advisor,

IBBI

Reg. No. IBBIIRV/0612019/12564, ICAI RVO

membership no. lCAIRV0/06/RV-P002921

2019-2020 ), the members

of IDC recommend tha t

One Hundred Fifty Three and Sixteen Paise), the De listing Offer

is in accordance with the SEBI Del�ting Regulations.

However, the IDC noted that the market price of the

equity shares of the Compan y has been at a premium

to the Floor Price

and the Indicativ

e Price

pos t the announcement of the Deltsti ng Offer . Accordingly, the Public Sharehold ers of the Company

are advised to

indeperdently evaluate the Delisting

Offer and take an informed decision in their bes t interests regarding

tendering the

equity shares held by them in the Delisting Offer

Based on the review of the IPA, the Corrigendum to the IPA,

DPA and LOF issued by the Manager to the Delistin g Offer on

behalf of Acquirers

, the members

of IDC have oonsidered the

following reasons for making recommendations in paragra ph

11atiov e:

(a)

The floo

r price

of Rs. 153.16 (Indian rupees One Hundred Fifty Three and Sixteen

Paise) per equity share has been

calculated in accordance with Regulation 20 and other applicable provi sions of the

SEBI Delisting

Regulations read

with SEBI (Substantial Acquisition of Shares and Takeov ers) Regulatio ns, 2011

(b)

The Indicati ve Price

of Rs. 156 (Indian Rupees One Hundred Fifty Six) is higher than the volume weighted average

price of the equity shares

of the Company during the period

of 60 (Sixty) tradin g days immediately preceding the date

of the Board

Meeting in which the delisting

proposal was considered and approved and higher than the volume­

weighted average pric e paid or payable for acquisitions, whether by the Acquirers

or by any person acting in concert

with them. during the 52 (Fifty-Two) weeks immediately preceding the date of the IPA

(c)

In terms of SEBI Delisting Regulations, if the discovered price pursu ant lo the reverse book building proces s is less

than or equal to the

Indicative Price. then the Acquirers will be required to purchase the equity shares of the Public