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Baba Kalyani, chairman of <a href="http://www.businessinsider.in/searchresult.cms?query=bharat+forge">Bharat Forge</a>, and his family have been dragged to court by the young niece, Sheetal Kalyani, demanding her share in ancestral wealth. 
 
Sheetal, 27, has claimed one-ninth of the family estate and demanded her share of stakes in listed companies. 
 
The case is slated for second hearing on November 05. 
 
Four grandchildren of the Kalyani family's patriarch Vijaypat Singhania had approached the Bombay High Court seeking ancestral rights to properties. 
 
Reportedly, Ananya, Rassalika, Tarini and Raivat Hari, the children of Vijaypat Singhania's estranged son Madhupati, accused Baba Kalyani of ignoring them during the partition of family assets. 
 
Experts point out that younger generation of affluent families demand their share as they are well aware of the outside world. They say that to avoid such circumstances, business families should structure their wealth in advance to maintain peace. 
 
Bharat Forge has value of Rs 19,000 crore with profitable subsidiaries in Germany. 
 
(Image: Thinkstock)

Chairman of Bharat Forge, Baba Kalyani, in legal trouble as niece files suit, claims one-ninth of the estate as her share

What is the best gift you gave someone on his/her birthday? Can’t remember! Well it’s definitely not as grand as what <keyword id="14666" type="ORGANIZATION" weightage="20" keywordseo="BJP">BJP</keyword> has given their beloved leader. <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> on his birthday has been gifted a mobile app, which lets people wish him on his birthday. Anyone can download the app in their phone and wish <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword> on his birthday. Moreover, as a return gift the users will receive a personalized ‘Thank You’ video from the Prime Minister himself. Our tech savvy Prime Minister should be much elated to get this. 
 
The messages from top 50 prominent personalities of the country have gone live on the app today. 
 Some of the messages were accessed by the <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword> before they go live on the mobile app. <keyword id="6357912" type="PERSON" weightage="20" keywordseo="amitabh-bachchan">Amitabh Bachchan</keyword>, Madhuri Dixit, <keyword id="31278" type="PERSON" weightage="20" keywordseo="Lata-Mangeshkar">Lata Mangeshkar</keyword> and <keyword id="6355923" type="PERSON" weightage="20" keywordseo="Aamir-Khan">Aamir Khan</keyword> have written in, so have <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> and <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>, Uday Kotak, <keyword id="46425" type="PERSON" weightage="100" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, <keyword id="190960" type="PERSON" weightage="20" keywordseo="Baba-Kalyani">Baba Kalyani</keyword>, Venu Srinivasan, Chanda Kochhar, <keyword id="45634" type="PERSON" weightage="20" keywordseo="Jagdish-Bhagwati">Jagdish Bhagwati</keyword> and Kiran Mazumdar-Shaw. Shashi Tharoor, Vinod Rai, Sanjay Baru and Sri Sri Ravishankar have also sent in their greetings. Sports people like PV Sindhu, P Gopichand, Saina Nehwal and <keyword id="487" type="PERSON" weightage="20" keywordseo="Sania-Mirza">Sania Mirza</keyword> have shared their reflections of experiences with PM. 
 
Here's a look at how a entrepreneurs wished the Prime Minister on his birthday 
 
Anand G. Mahindra Over a decade ago when Narendra Modi visited Mumbai and invited businessmen to invest in <keyword id="6354766" type="COMPANY" weightage="20" keywordseo="Gujarat">Gujarat</keyword>, I remember thinking to myself: 'This man is different'. And over the ensuing years, PM Modi has indeed proved that he is a different kind of man. He is a man in a hurry to transform India. 
 
Sunil <keyword id="272096" type="COMPANY" weightage="20" keywordseo="Bharti-Mittal">Bharti Mittal</keyword> 
The last couple of years have been quite revealing. Under a visionary leader, India's potential, which was never quite in doubt, has suddenly found new meaning, and more importantly, acceptance and respect among global audiences at the highest level. The eloquence with which the PM communicated India's vision for the world...the way his charismatic statesmanship gets applauded, it makes each and every Indian proud. 
 
Cyrus P Mistry One of my first meetings I had, along with <keyword id="3660053" type="UNKNOWN" weightage="20" keywordseo="mr-ratan-tata">Mr Ratan Tata</keyword>, after assuming a new role in <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> group in 2012, was with Mr Narendra Modi. I remember going into the meeting thinking that this would entail the standard exchange of pleasantries. That day, I came out of the meeting having learnt an important lesson in leadership. 
 
Anil Ambani I recall the first time I met <keyword id="1267365" type="UNKNOWN" weightage="20" keywordseo="Narendrabhai">Narendrabhai</keyword> in the 1990s when my father <keyword id="6418409" type="PERSON" weightage="20" keywordseo="Dhirubhai-Ambani">Dhirubhai Ambani</keyword> invited him home for dinner. At the end of the conversation, Papa remarked: "<keyword id="110806" type="CITY" weightage="20" keywordseo="Lambi">Lambi</keyword> race no ghodo chhe, leader chhe, PM banse - he's a thoroughbred for the long run, a true leader, he will be prime minister. In the words of my father, Narendrabhai "dreams with his eyes open" and with <keyword id="6359315" type="PERSON" weightage="20" keywordseo="arjuna">Arjuna</keyword> like clarity of vision and purpose. 
 
Kumar Mangalam Birla 
Today, there is an air of confidence, a 'can do' feeling. Narendra Modi's has put in place the foundation for strong and sustained economic growth that benefits everyone. Not surprisingly, there has been a distinct improvement in the ease of doing business in India. Above all, Mr Modi is a man of integrity, a man of character, and that is what resonates the most. 
 
 Here’s how <keyword id="143" type="CITY" weightage="20" keywordseo="Bollywood">Bollywood</keyword> wished the Prime Minister on his birthday on the app 
 
Lata Mangeshkar 
You were opposed a lot but you have kept on walking on the path of truth. The whole world in the grip of violence but I am sure your policies will win over this violence. 
 
Aamir Khan 
I always pray that your health always remains fine and you get all your desired happiness. This year has been more memorable for you compared to your earlier years. 
 
 
Amitabh <keyword id="6354348" type="COMPANY" weightage="20" keywordseo="bachchan">Bachchan</keyword> 
I first met you at your CM residence, Gujarat to seek tax exemption for Pa. An ordinary house, an ordinary room...you said let's watch the fi lm, took me along to a theatre and saw the film. Spoke a bit about Gujarat tourism... and Surprise, within a week Gujarat tourism offi cials were at my home in Mumbai to speak to me...and within a few days work started.

​ Here's how Mukesh Ambani, Uday Kotak, Anand Mahindra and other Indian leaders wished Narendra Modi in his birthday

As India gears up to import the M777 Howitzers or the Ultra-Light Howitzers (ULHs) produced by the US-based BAE Systems under the reported $750 million deal, a strong price competition is brewing back home. The Kalyani group led by <keyword id="190960" type="PERSON" weightage="20" keywordseo="Baba-Kalyani">Baba Kalyani</keyword> is all set to offer similar ULHs at a significantly lower price than the imported one.
 According to sources, a high level review meeting on India’s artillery gun projects was held recently to purchase 145 M777 ULHs produced by BAE Systems under the ‘<keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make In India</keyword>’ program.

	Sources said the review of high budget artillery projects was carried out in the presence of Defence Minister Manohar Parrikar.

	“All big artillery projects were discussed along with the purchase of M777 howitzers or ULH to modernise and enhanced the capability of Indian Armed forces,” sources said.

	“Talks to import 145 M777 is on since 2012 with the US. Discussions have been progressing on the price front as the manufacturer has been seeking a hike on the initial price quoted of 2012,” said a senior official.

	It has been reported that the price quoted by the US in 2012 was $694 million and BAE–the manufacturer has been seeking 10% hike on the four-year-old price. Reports have pegged the deal for these 145 ultra-light howitzers at around $750 million.

	Back home, the Kalyani group, at the DefExpo 2016, had exhibited the first prototype system--the Bharat Ultra-Light Howitzer that could pose direct competition against the M777 Howitzers, made out of Titanium.

	Bharat Ultra-Light Howitzer has been developed using light weight exotic materials like Titanium and Aluminium based alloys. The company also has a system ready for testing before the end of this year.

	Parrikar told Business Insider that all indigenous manufacturers who offer such price advantage and have competitive products to offer will be spoken to by him.
 The most worrying operational void of field artillery guns to support the <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> in battle is finally being addressed. “The purchase of M777 howitzers is a matter of time and negotiations in this regard are going on….the matter was also discussed between Parrikar and the visiting US defence secretary, Ashton Carter on April 12,” sources said.
 BAE Systems has already announced a tie up with Mahindra as its business partner for its proposed in-country assembly, integration and test (AIT) facility for the <keyword id="2853837" type="UNKNOWN" weightage="20" keywordseo="M777-howitzer">M777 Howitzer</keyword>. The gun will come with laser inertial artillery pointing systems (LINAPS), maintenance, personnel training and training equipment, technical assistance, engineering and logistics support services.

	However, with the passage of the finance bill 2016 in the Lok Sabha on March 5, the clause on re-imposing the customs duty of 28.7% stands ratified and would turn the $750 million deal somewhat costlier (although the exchequer will stand to gain from this customs duty).

	Whether the proposed $750 million deal will progress as planned or face delays in the aftermath of the ongoing controversy surrounding the purchase of VVIP helicopters from AgustaWestlands by the erstwhile UPA government, remains to be seen.

	(Anupama Airy is the Founder and Editor of EnergyInfraPost.com and DefenceAviationPost.com. She can be reached at <a href="mailto:anupama.airy@gmail.com" target="_blank">anupama.airy@gmail.com</a>​, Twitter handle: @anupamaairy)

	<o:p> (Image: Indiatimes)</o:p>

	<o:p> </o:p>

Procurement of M-777 Howitzers is likely to get delayed as ‘Make in India’ prototype ups competition

<ul><li><keyword id="6418655" type="General" weightage="20" keywordseo="minority-shareholders" source="Orion">Minority shareholders</keyword> can do little to protect their investments in case of boardroom and family battles of promoters, say experts.</li><li>Shareholders should take a call to sell or stay invested based on how the company is performing.</li><li>Any legal recourse by minority shareholders can lead to further dilution of stock value, warn lawyers. </li></ul>The Raymond family drama has taken its toll on minority shareholders of the company because this category of investors is the most vulnerable. The stock has fallen by over 17% ever since <keyword id="6405378" type="General" weightage="20" keywordseo="gautam-singhania" source="Orion">Gautam Singhania</keyword>’s wife <keyword id="305817" type="General" weightage="20" keywordseo="nawaz-modi" source="Orion">Nawaz Modi</keyword> publicly accused him of assault. His letter to the board assuring smooth functioning of Raymond, has done little to calm the storm. This is not the only case where minority shareholders, who hold less than 50% of the stock, are affected by feuds between board and family members. There are two other ongoing cases of family members sparring over control of companies — pharma company Hikal and Finolex Cables. In these cases, there is very little that shareholders can do, say experts. They’re left between the choice of offloading stock as it’s falling or holding it for an indefinite period. In these cases, should shareholders sell or stay? “There is no easy way to answer this,” says Deepak Jasani, head of retail research at HDFC Securities. “It all depends on if the company is continuing to do well. They have to decide based on if the dispute can have a quick resolution or will be prolonged,” he adds. Delhi-based corporate lawyer Anuroop Omkar, founding partner of law firm AK &amp; Partners says that minority shareholders are very low in the pecking order when it comes to their ability to act. “Even in an insolvency, they’re below secured creditors,” he says. There is a provision in the Company Act 2013 called ‘Oppression and mismanagement in a company’ which protects minority rights. Mismanagement can be defined as conducting company affairs in a prejudicial, dishonest or inept manner. “But this can’t be invoked in the Raymond case, as it’s a personal battle,” he adds. Top corporate battles that affected shareholder value <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Feud </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Effect </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Family dispute between Mukesh Ambani &amp; Anil Ambani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2004 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Culminated into a split of the company &amp; a court battle over natural gas sales later </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dispute between promoter Narayana Murthy &amp; Vishal Sikka, the CEO over functioning of the company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sikka quit the company </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Family members Sungandha Hiremath and Baba Kalyani battle over Hikal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The case over family arrangement made in 1994 is being heard in Bombay High Court </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cousins Prakash and Deepak Chhabria battle over control of Finolex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2016 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The case is with courts and National Company Law Appellate Tribunal (NCLAT) </td></tr></tbody></table> Between stock &amp; a hard place There is no third option for shareholders, even if they lose faith in the promoters’ ability to conduct business. They can only wait and watch, experts say. “Minority shareholders will have to rely on the Board and independent directors to act on their behalf,” Shriram Subramanian, founder &amp; MD of proxy advisory firm InGovern tells Business Insider India. In Raymond’s case, the board of directors can investigate based on allegations made by Modi that company funds have been misused. “The Board has to ringfence the company from utilization of funds by Gautam Singhania for any personal legal matters,” adds Subramanian. Institutional advisory firm IiAS also wrote an open letter seeking independent investigation by the board, asking them to send promoters on leave till investigation is complete. “Independent directors have a fiduciary responsibility towards minority investors, employees and a larger set of the company’s stakeholders. Therefore, you will need to dispassionately separate ownership from management,” IiAS’ letter says. Legal recourse: A double-edged sword There is, however, a way for minority shareholders to edge into the board, with the help of courts. “If there is a case of harassment or erratic behaviour, many entities related to the company like vendors, employees can file a class-action lawsuit wherein shareholders can join in too. But it doesn’t happen too often in India,” says Omakar. Only Foreign Institutional Investors (FII) who have over 1% stake in the company or a high-networth individual (HNI) who can afford to take up such long-standing fights. Subramanian believes that fighting for rights comes at a cost for minority shareholders. Also, the rights need to be exercised with responsibility. Minority shareholders, depending on their shareholding, can exert their rights to bring about change in the company, including change of directors, appointment of new directors, etc. Legal recourse can also work against the long-term interests of shareholders too. “There can be a major share price drop if a legal battle is taken up,” says Omkar. That can go against the interests of shareholders who want to protect the value of their investments. Until then, stock experts advise shareholders to read up on the corporate governance track record of companies and take a call on whether they want to hold on or sell out from a company engaged in a battle of its own. SEE ALSO <a href="https://www.businessinsider.in/finance/news/rbi-governor-asks-realty-companies-to-stress-test-their-books/articleshow/105411235.cms">RBI governor asks realty companies to stress test their books</a> <a href="https://www.businessinsider.in/policy/economy/news/rupee-hits-a-new-low-in-november-despite-fall-in-dollar-index/articleshow/105551439.cms">Rupee hits a new low in November despite fall in dollar index</a>

Minority shareholders must grin and bear it when promoters wash dirty laundry in public

New Delhi, Feb 7 () The government on Friday assured Rajya Sabha that workers' interests will not be compromised while framing norms for ease of doing business.Commerce Minister Piyush Goyal told the house during Question Hour that the recommendations of the Baba Kalyani Committee relating to simplification and ease ofdoing business were being discussed. "On most of the recommendations, I have personally had more than three meetings with the Baba Kalyani Committee. We have reviewed each of the recommendations. On all those that were administratively possible, we have made an effort to try and resolve as soon as possible, in consultation with the Committee. "Some required legal and legislative changes which I will bring to the House very shortly...once we have made up our mind considering also that in WTO we are fighting a case in which certain countries have gone against India and our efforts to promote exports through SEZs. As far as the changes that we have already done on the Baba Kalyani Committee report, we believe that it has helped in the ease of doing business," he told the house. "I can assure...that our Prime Minister Narendra Modi has always been pro-worker. We have always had extensive consultations with all unions, including CITU, BMS and all others, and the government has had several rounds of discussions and at no point of time will the workers' interests ever be compromised. I think one must have a healthy debate," he said.The minister, however, said there are certain challenges at the international level which one has to recognise and sometimes very tight labour laws become a disincentive to manufacture in India and to create new jobs. "So, it is something where workers, government and employees will have to work together to find solutions which are in the interest of the country first, and obviously of the workers also. But one must also recognise that the workers are also very keen that there should be new opportunity for jobs, new opportunity for generating economic activity which will give jobs to our young boys and girls for which a little more flexible approach on all sides is required," he said. SKC SMN

Workers' interests won't be compromised while framing norms for ease of doing business: Govt

Mumbai, Mar 31 () Pune-based Kalyani group on Tuesday said it will contribute financial assistance worth Rs 25 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PMCARES Fund) to fight against coronavirus pandemic.Besides the flahship company Bharat Forge, the other Kalyani group companies are Kalyani Steel, Saarloha Advanced Material, Automotive Axles and Hikal Ltd.Bharat Forge and other Kalyani Group companies have pledged assistance via direct contribution of Rs 25 Crores to the PMCARES Fund to fight against the COVID-19 pandemic, the group said in a statement."The group is committed to assist the central and state government and the local authorities in all possible ways to deal with the pandemic. We are also using our group R&amp;D facilities to look at ways of easing the shortage of critical medical equipment's, including ventilators, Respiratory equipment and other sanitation/hygiene equipment."As part of our CSR activity we have started addressing the food requirements of the local community and will increase the efforts in the coming days," Bharat Forge Chairman Baba Kalyani said. IAS BALBAL

Kalyani Group pledges Rs 25 crore to PM Fund

New Delhi, Mar 31 () Auto components major Bharat Forge, the flagship company of Kalyani Group, and other group firms on Tuesday pledged Rs 25 crore contribution to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES) to fight against the coronavirus pandemic. The group is also looking at using its R&amp;D facilities to meet requirements of critical medical equipment such as ventilators, respiratory equipment and other sanitation/hygiene goods. The other group companies involved in the donation are Kalyani Steel, Saarloha Advanced Material Pvt Ltd, Automotive Axles and Hikal Ltd, the group said in a statement. Bharat Forge Chairman Baba Kalyani said, "The group is committed to assist the central and state government and the local authorities in all possible ways to deal with the pandemic." He further said, "We are also using our group R&amp;D facilities to look at ways of easing the shortage of critical medical equipments, including ventilators, respiratory equipment and other sanitation/hygiene equipment." Kalyani said as part of CSR activity, the group has started addressing food requirements of local community and will increase the efforts in the coming days. RKL RKL ABMABM

Kalyani Group contributes Rs 25 cr to PM-CARES to fight coronavirus pandemic

New Delhi, Jan 9 () The commerce and industry ministry on Thursday held a meeting with special economic zone (SEZ) players and discussed ways to further promote growth of the sector, an official said.
 The meeting took up certain suggestions from Bharat Forge Chairman Baba Kalyani-led committee on SEZ that are not yet implemented, the official said.
 One of the members of this committee, Srikanth Badiga, said issues related to further improving ease of doing business for these zones were also discussed.
 The industry demand to extend the direct tax incentives to SEZ units beyond March 31 also figured in the meeting.
 In the Budget 2016-17, the government had stated that income tax benefits to new SEZ units would be available to only those units that commence activity before March 31, 2020.
 Units in SEZs enjoy 100 per cent income tax exemption on export income for the first five years, 50 per cent for the next five years thereafter and 50 per cent of the ploughed-back export profit for another five years.
 SEZs, which emerged as major export hubs in the country, started losing their sheen after the imposition of Minimum Alternate Tax and introduction of sunset clause, according to the industry.
 Exports from these zones stood at over Rs 7 lakh crore in 2018-19. RR HRS

Commerce ministry holds meeting with SEZ players to discuss issues

New Delhi, Jul 8 () Auto components major Bharat Forge Ltd on Wednesday said it has launched health risk monitoring system (HRMS), which enables companies and institutions to comply with home ministry guidelines for safe reopening, in collaboration with artificial intelligence startup Blackstraw. HRMS primarily consists of two major components -- a contactless thermal screening system integrated with RFID badge reader and AI algorithms running on surveillance CCTV cameras to monitor and control human behaviour. The contactless thermal screening system with RFID badge reader records temperature of associates at high speed with accuracy and also maintains an automatic daily record of the temperature of every person entering and exiting the premises, the company said in a statement. On the other hand, the AI (artificial intelligence) algorithms running on surveillance CCTV cameras alerts administrators and provides them a dashboard when social distancing norms are not met or if an employee is not wearing a face mask. These alerts and dashboards are then reviewed to drive sustainable behaviour change across the enterprise, it added. Commenting on the launch, Bharat Forge Ltd Chairman and Managing Director Baba Kalyani said safety norms have become more stringent with this pandemic. "We have inducted Artificial Intelligence and technological intervention to further safeguard people's health by creating an environment that is anxiety-free and fosters growth. We have developed HRMS to reduce manual interference and keep an effective check on safety norms. This technological approach has ensured maximum safety for employees," he added. Blackstraw CEO Atul Arya said the partnership with Bharat Forge has led to development of a range of video analytic products over the last year. "HRMS has been a quick and timely assembly of technological components developed over time for an immediate need. We strongly believe that this platform which will not only safeguard companies and their employees but will also help reinstate confidence and normality," he added. Bharat Forge said HRMS is ideal for deploying in high–footfall areas like educational campuses, hospitals, gated communities, retail stores, railway stations, airports and transit points to monitor individual and societal health. Presently, it is being deployed at The Kalyani School in Pune and all critical facilities of the company pan-India. Bharat Forge Ltd has partially resumed operations at its manufacturing facilities by taking several safety measures. It has added HRMS as a crucial tool to help prevent the spread of COVID-19 infection, thereby creating a safe environment for its thousands of employees entering and exiting the facility, it added. "The company also intends to make the developed HRMS system available widely across schools and enterprises which will help them to safely reopen their premises and businesses respectively, during these tough times," the statement said. RKL RUJ RUJ

Bharat Forge launches health risk monitoring system for COVID-19 SOPs

<ul><li>India’s defence manufacturing industry will have more contracts coming its way with the Indian government banning the import of 101 defence items. </li><li>The share price of companies like L&amp;T, BHEL, Bharat Forge and others rallying in the stock market today. </li><li>Hindustan Aeronautics Limited’s (HAL) share price was up by over 8% in early morning trade.</li></ul>The Indian government’s ban on the import of 101 defence weapons and military platforms could bring an additional impetus for India’s defence companies. The share prices of companies like Bharat Heavy Electronics Limited (BHEL), Larsen &amp; Toubro (L&amp;T), Hindustan Aeronautics Limited (HAL), Bharat Forge and others are rallying in the stock market today. HAL opened a whopping 8% above Friday’s closing. The ban on big-ticket items like the Light Combat Aircraft (LCA) MK I A is a huge boon for the aircraft manufacturing company. <div type="image" title="HAL" msid="77455556" hostid="261" caption="&amp;lt;p&amp;gt;HAL&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> The other behemoth in the defence space, L&amp;T, saw its share price go up by over 2% in early morning trade. It has the most to gain from this new move coupled with the overarching Defence Production and Export Promotion Policy (DPEPP) 2020. Not only does the company manufacture for the Army but for the Navy as well. <div type="image" title="L&amp;amp;T" msid="77455576" hostid="261" caption="&amp;lt;p&amp;gt;L&amp;amp;amp;T&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> Bharat Forge's chairman and managing director, Baba Kalyani, welcomed the India's government's move to ban 101 defence items. "This strategic step will propel the Atmanirbhar Bharat " he said. As markets opened today morning, the Bharat Forge's shared price jump by over 5%. <div type="image" title="Bharat Forge" msid="77455611" hostid="261" caption="&amp;lt;p&amp;gt;Bharat Forge&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> Cochin Shipyard also saw its stock in the green, up by nearly 4%. Its one of the few companies that manufactures items for the Indian Navy. Even though the company was not immune to the effects of the coronavirus pandemic and the ensuing lockdown, it still managed to post a 44% jump in profits year-on-year in the fourth quarter. The true impact of the uncertainty with be reflected in its first quarter earnings, which are set to be announced later today. <div type="image" title="Cochin Shipyard" msid="77455589" hostid="261" caption="&amp;lt;p&amp;gt;Cochin Shipyard&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> BHEL’s share price saw a jumped of nearly 3%. The company saw a troubled fourth quarter will sales dipped by 54% and a net loss of ₹ 1,532 crore. Due to the impact of COVID 19 and the uncertain circumstances, the board of BHEL also refrained from recommending the final dividend for the financial year. <div type="image" title="BHEL" msid="77455623" hostid="261" caption="&amp;lt;p&amp;gt;BHEL&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> The publicly owned BEML's share price also saw a surge of over 4%. Just last month, the company bagged a ₹ 557 crore order from the Ministry of Defence (MoD) to supply 1,512 Track Width Mine Ploughs (TWMPs). Its a demining piece of equipment used by India's Bhishma T-90 tanks. <div type="image" title="BEML" msid="77456083" hostid="261" caption="&amp;lt;p&amp;gt;BEML&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> Even though the ban will be implemented in a phased manner with a deadline of coming into full effect by December 2025, many items will be shunned as soon as December this year. This includes big-ticket items like the Light Combat Aircraft (LCA) MK I A and smaller tit-bits like bulletproof jackets and ballistic helmets. Boon for India’s domestic defence manufacturing <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Branch of the Armed Forces </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies to Benefit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Army </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T, BHEL, Bharat Forge, BEML, BEL and Bharat Dynamic </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Navy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Garden Reach, Cochin Shipyard, and L&amp;T </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Air Force </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HAL and Dynamatics Technologies </td></tr></tbody></table>Source: Reliance Securities According to Rajnath Singh, India’s Minister for Defence, the aim is not only to reduce India’s dependence on imports and boost the domestic market but also to one day export defence items to the rest of the world. He estimates that contracts worth nearly ₹4 lakh crore will be placed upon the domestic industry within the next six to seven years. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/indias-defence-ministry-introduces-import-embargo-on-101-items-to-boost-atmanirbhar-bharat-abhiyan/articleshow/77442031.cms">India’s Defence Ministry introduces “import embargo” on 101 items to boost Atmanirbhar Bharat Abhiyan</a> <a href="https://www.businessinsider.in/india/news/all-the-101-items-that-indias-defence-ministry-will-put-under-import-embargo/articleshow/77442138.cms">All the 101 items that India's Defence Ministry will put under "import embargo"</a>

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