OPINION, P2 IDEA EXCHANGE MIND & GAMES Want managers,not just watchmen TRIGGER WARNINGS MAY NOT DO MUCH, EARLY STUDIES SUGGEST Himanta Biswa Sarma ‘Muslims from Assam, UP, Bihar different... Fight is against Bangladeshi Muslims, not Indian Muslims’ Page 4 Researchers find that warnings alerting people to disturbing material may pose little benefit or harm to viewers Page 10 ACROSS THE AISLE , P CHIDAMBARAM LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL .XVIII NO.21 COOKING FROM THE HEART FINANCIAL EXPRESS ON SUNDAY NEW DELHI SUNDAY, MARCH 24, 2019, 12 Pages, `10 (Patna `11, Raipur `10) P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , WHAT'S INSIDE C H A N D I G A R H , C H E N N A I , READ TO LEAD H Y D E R A B A D , K O C H I , nated with finance; he confesses he always wanted to workinthisspace.That’snotso hard to understand when you learn he is the son of bankers. Unlike them,though,heworks in the private sector, having joined HindustanUnilevertwo decades back. Indeed, he is the quintessential corporate sector professional who hits the gym at 5.30everymorning,isin office at 7.45 am and winds up by 6.30 pm.He is alsoverycareful Online food startups may have created many jobs for the unemployed, but what’s also true is that faceless food delivery men whom we take for granted work under immense duress. We try to discover what is life like for them ■ WORDS WORTH, P5 With a song & a tale Concepts of a dry issue like finance are put forth like stories in The Wisdom of Finance to make for an interesting read QuickPicks Jet grounds 7 more aircraft JETAIRWAYS on Saturday grounded seven more aircraft and cancelled additional flights on its network, reports Fe Bureau. The airline, running a truncated schedule, suspended or reduced flights to at least 13 of its international stations. PAGE 3 ODD & EVEN ROHNIT PHORE about what he eats, because food may be wonderful, but it can make you sluggish. Although Phatak has lived in the West, having spent several years in Europe,you won’t believe it but he thinks in Hindi.The Executive Director, Finance, and Chief Financial Officer,says he loves the Hindi language, and learnt it in his youngerdayswhen his parents were posted forseveralyearsin Uttar Pradesh. Phatakisathomeanywhere in the world and enjoyed his long stint in Europe with ILLUSTRATION: ROHNIT PHORE Auditors have some explaining to do ● RoC tightens norms for auditors, asked to specify reasons SUMIT JHA New Delhi, March 23 dreds of auditors employed by listed companies have quit over the past year, the registrar of companies (RoC) has tightened norms by asking them to explain the specific reasons fortendering resignations as ambiguous reasons like ‘pre-occupation’ are untenable. “It is stated that pre-occupation as a ground for resig- nation of auditor is not tenable since you have consented for being the auditor of the company yourself. You are hereby required to explain your resignation given on 'pre-occupation' ground within seven days,” a letter to one auditor from the office of registrar of companies in Gujarat said. On resigning,the auditoris required to file a return in eform ‘ADT-3’ with the RoC concerned and is required to furnish the reasons for the resignation. Under the provisions of CompaniesAct,2013, an auditor who finds during an audit that fraud has been committed bythe companyor its employees should report the matterimmediatelyto the central government. Continued on Page 11 A ‘blockbuster’ partnership EXPANDING AD SPACE SONAM SAINI Mumbai, March 23 LASTYEARWAS a good one for thefilmindustry,withasmany as 13 films entering the `100crore club.Add to this the fact that the Indian film industry produces over 1,000 films per year, and you have a perfect marketing platform. No wonder then, brands are eyeing embedded advertising and movie associations more seriously than ever before. As per the FICCI-EY’s 2019 report, A Billion Screens of Ranveer Singh-starrer Gully Boy had over 20 brand associations across categories The partnership can range anywhere from `70 lakh to Opportunity,1,776 films were released in CY 2018 as compared to 1,807 films in 2017. Despite a decline in the num- `4 crore for co-branded, out-of-movie associations In cases of brand’s placement within a movie, the cost is approximately `15 lakh to `1 crore berof films released,2018was a more successful year for the Hindi box office. Consider 2018’s line-up of Unilever. It wasn’t just the U2 andColdplayconcertsthatwere bigattractions;helovedthe‘culturescene’there. Backhome,as CFO,HindustanUnilever,hehas just overseen one of the biggest M&A transactions ever by the company—the acquisition of GSK India’s consumer health foods business. It wasn’t an easy deal, but Phatak says once the teamwas convinced there was a compelling rationale for the merger and there were significant synergies — 800 to 1,000 basispointstobegained—half the battle was won. Where Phatak andhis teamscored big was in pushing through an allstock deal; GSKhad reportedly been more keen on a cash transaction. Also, distributing GSK’s OTCproductsforfiveyearswill helpstrengthenHUL’schemist channel. Phatak says it was important to ensure the merger at the proposed price made sense after factoring in both upsides and downsides. Above all, he says, it is important to have humility to learn from the GSK team on how to run the HFD business,which is a new space for HUL.The hard work begins now, as Phatak well knows, and he’s readying the team to steer the integration process. Continued on Page 11 SPATE OF RESIGNATIONS AMID REPORTS THAT hun- ● In-film placements helping movie production houses recover costs, while also adding to the pre-release buzz L U C K N O W , M U M B A I , N E W D E L H I , P U N E India’s clean car PULLING THE RIGHT LEVER drive speeds up SRINIVAS PHATAK IS fasci- Food for thought K O L K A T A , CFO OF THE YEAR: SRINIVAS PHATAK SHOBHANA SUBRAMANIAN Mumbai, March 23 ■ SPOTLIGHT, P7 Singapore’s best chef gives Delhi the recipe for a star cook Page 9 films like Veere Di Wedding, Zero, Race 2 and Sanju, which proved to be vehicles for brands to ride the movie wave. More recently, the Ranveer Singh-starrer Gully Boy had over 20 brand associations across categories. “To expect a 20% brand involvement in some of the bigger cinematic offerings is not unrealistic today. Brands lovethechemistrythatcinema creates,” says Harish Bijoor, founder, Harish Bijoor Consults.An associationwith a movie is all about piggybacking on the allure of the star,the story and the genre represented by the movie. “What started as in-film product placement exercises have morphed to become activities that are deeply involved in advertising and ground-level activation,” adds Bijoor. Mostly, such tie-ups are beneficial forgarnering higher media visibility by film production studios. Continued on Page 11 ● As many as six new hybrid models to hit market soon PRITISH RAJ New Delhi, March 23 NEARLY HALF A dozen fully hybrid cars are likely to hit the domestic market in the next twoyears,mainlyfrom Maruti Suzuki,Toyota and Honda Cars India. Sources say the companieshave startedtheprocessof developing hybrid vehicles suited for Indian conditions. The parent companies of the three automakerswill take the lead in providing technology for hybrid vehicles, which will be introduced in the existing product line-up of their Indian units, said sources. For instance, Maruti Suzuki may have a full hybridversion of its sedan Ciaz and Honda may offer a hybrid Civic or City. Maruti Suzuki currentlysells a mild hybrid version of Ciaz. Around four hybrid vehicles are likely to be shared by Toyota and Maruti,while Honda is likelytooffertwo such models, said sources. WhileSuzukiandToyotaare PICKING UP As part of the `10,000crore phase 2 of the FAME scheme, strong and plug-in hybrids under `15 lakh will be eligible for an incentive of `20,000 Companies have written to the government to provide specific subsidy meant only for hybrid cars Given that the car makers will have to comply with the stricter corporate average fuel efficiency (CAFE) norms, most global companies are considering hybrids as an option jointly working on building hybrid cars as part of their global tie-up, Honda already owns the hybrid technology andiswaitingfortherighttime tointroducethemintheIndian market.ToyotaKirloskarMotor had in January revived the hybrid variant of its premium sedan Camry. The company had earlier stopped selling Camry as sales slumped owing to rise in taxes after the GST implementation in July2017. Continued on Page 11
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