BACK PAGE, P16 COMPANIES, P4 INTERNATIONAL, P7 ROBUST GUIDANCE EYES LISTING IN 2-3 YEARS SURPRISE TRIP Prestige, Lodha aim to enter `20,000-cr sales club by FY26 Airtel Payments Bank to exit FY23 with over `1,300-cr revenue Putin visits Mariupol in show of defiance to arrest warrant MUMBAI, MONDAY, MARCH 20, 2023 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM READ TO LEAD VOL NO. LXIII NO. 65, 16 PAGES, `10.00 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 , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , 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 COMMERCIAL USAGE BY COMPANIES IN FOCUS Norms for non-personal data sharing in the works Firms to be barred from DATA MANAGEMENT ■ The firms, hence, using own standards The govt JATIN GROVER New Delhi, March 19 APART FROM THE Personal Data Protection Bill, which is in the process of being presented to Parliament,the government also intends to spell out the definition of non-personal or anonymised data. This means that firms will not be free to just remove the name of the users from any data set,make it anonymous,and use it for anycommercial purpose.Theywill have to abide bythe norms put in place bythe government. The India Data Management Office (IDMO) will prescribe the standards by which the companies will have to anonymise the data and then use it for commercial purposes, for research and development, innovations etc, according to government officials. Earlier this month,the ministry of electronics and IT(MeitY) set up a task force for framing draft roadmap to develop artificial intelligence ecosystem by April end. The India AI programme aims at providing the publicly available datasets to the startups and researchers. “We need to design a intends to spell out the definition of non-personal data (anonymised data) will not be free to just remove the name of the users from any data set, make it anonymous, and use it for any commercial purpose ■ Centre is working on the Digital India Act, apart from the Digital Personal Data Protection Bill nationalAIdataplatform,makingdataheld by government organisations and the privatesectoravailabletoresearchersandinnovation,”said Rajeev Chandrasekhar,minister of state for electronics and ITduring the first consultation on IndiaAIprogramme. “The India dataset has a particular relevance that has not been seen elsewhere. There’s a perception that if we can do this right itwill be a gold standard of datasets,” Chandrasekhar said, adding that the government will decide the criteria for giving the companies access to use the government as well as private datasets. RAJEEV CHANDRASEKHAR, minister of state for electronics & IT There’s a perception that if we can do this right it will be a gold standard of datasets In the Union Budget of 2023-24, finance ministerNirmala Sitharaman had announced the National Data Governance Policy. “To unleash innovation and research by startups and academia, a National Data Governance Policy will be brought out. This will enable access to anonymised data,” Sitharaman said while presenting the Budget. In May last year, the IT ministry released a draft of the National Data Governance Policy. Continued on Page 2 Adani Group halts work on `34,900-cr Mundra plant AMMAR ZAIDI New Delhi, March 19 ADANI GROUP HAS suspendedwork on a `34,900 crore petrochemical project at Mundra in Gujarat as it focuses on resources to consolidate operations and address investor concerns following a damning report bya US-based shortseller, sources said. The group's flagship Adani Enterprises (AEL) had,in 2021,incorporated a wholly-owned subsidiary, Mundra Petrochem for setting up a greenfield coal-to-PVC plant atAdani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat. But afterHindenburg Research's January 24 report alleging accounting fraud, stock manipulations and other corporate governance lapses chopped off about $140 billion from the market value of GautamAdani's empire,the apples-to-airport group is hoping to clawback and calm jittery investors and lenders through a comeback strategy. The comeback strategy is based on addressing investorconcerns around debt by repaying some loans, consolidating operations, and fighting off allegations. The group has denied all allegations levelled by Hindenburg. As part of this, projects are being reevaluated based on cashflow and finance available. Continued on Page 2 IN THE NEWS RCap insolvency: SC to hear Torrent plea today THE SUPREME COURT will on Monday hear a petition filed by Torrent Group against NCLAT's order that permitted holding a second e-auction for Reliance Capital, reports fe Bureau. ■ PAGE 5 Fertiliser subsidy to be linked to holdings THE GOVERNMENT WILL roll out a modified direct benefit transfer (DBT) scheme of fertilisers, linking sales of subsidised fertilisers to farmers’ land holdings, in seven districts across as many states on a pilot basis, reports Sandip Das. ■ PAGE 2 Applications invited for RBI dy governor THE MINISTRY OF Finance on Sunday invited applications to fill the post of deputy governor at RBI, as per a notification on RBI website, reports fe Bureau. The candidate will succeed RBI deputy governor M K Jain, whose tenure is ending in June. ■ PAGE 2 FE S P E C I A L 2657839 3735095 3735096 Notice is hereby given that our client GIRNAR FOOD & BEVERAGES PVT. LTD. of 401, Centre Point, Dr. B. Ambedkar Marg, Parel, Mumbai – 400 012, is the registered proprietor of the trade mark “GIRNAR Detox Green Tea (Desi Kahwa)” label bearing no. 2657839 dated as of 10th January, 2014, “DETOX” (word per se) bearing No. 3691521 dated as of 30th November, 2017, “DETOX” (label) bearing no. 3735095 dated as of 23rd January, 2018, “DESI KAHWA” (label) bearing no. 3735096 for "Tea" falling in Class – 30 and trade mark DESI KAHWA (word per se) bearing application no. 4074583 dated as of 1st February, 2019 for “Tea and Green Tea” falling in Class – 30. Our client is a highly reputed company carrying on the business of manufacturing, selling and exporting tea including black tea, green tea, avoured tea, fruit tea/infusions, herbal infusions and premixed tea, iced tea and coffee. Tea under the “DETOX” and “DESI KAHWA” trade marks has been sold in India and exported abroad extensively and continuously since the year 2012. Our client has advertised their tea under their “DETOX” and “DESI KAHWA” trade marks in various media including Television, Newspapers, exhibitions, sponsorships, hoardings, posters, buses and the like in English and vernacular languages on a very large and extensive scale. Due to the excellent quality of the tea provided under the said trade marks, the said trade marks have acquired tremendous reputation and goodwill amongst members of the public and the trade. Members of the trade and public associate the trade marks “DETOX” and “DESI KAHWA” with our clients exclusively. It has come to our client's notice that certain unscrupulous persons with a view to trade upon our client's reputation and goodwill in their said registered trade marks and/or with a view to cause confusion or deception amongst customers and the trade, are using the trade marks “DETOX” and “DESI KAHWA” or deceptive variations thereof in relation to tea or in relation to goods of the same description. The said acts of such unscrupulous persons amount to infringement of our client's registered trade marks bearing nos. 2657839, 3691521, 3735095, 3735096 and 4074583 in Class - 30 and renders such persons liable to infringement and/or passing off proceedings. Members of the public and the trade must bring to the notice of our client, such wrongful/infringing use of the “DETOX” and “DESI KAHWA” trade marks word or label by such unscrupulous traders, to enable our client to institute appropriate legal proceedings, both civil and criminal against such traders, to curb such infringing and wrongful activities. NOTICE is hereby given that use by any person (whether manufacturer or trader) of our client's registered trade mark Nos. 2657839, 3691521, 3735095, 3735096 and 4074583 in class 30 or deceptive variations thereof either in respect of "Tea and green tea" or in relation to goods of the same description, which are not of our client's, shall render themselves liable to institution of Civil and/or Criminal legal proceedings. ■ BRANDWAGON, P9 Tackling the boycott brigade How can advertisers raise social issues without inviting netizens’ fury? Dated this 15th day of March, 2023 DARIUS F. DALAL JEHANGIR GULABBHAI & BILIMORIA & DARUWALLA Solicitors & Advocates for GIRNAR FOOD & BEVERAGES PVT. LTD. Rajabahadur Mansion, 1st Floor, 20, Ambalal Doshi Marg, Fort, Mumbai - 400023 Email: email@example.com BIS hallmarking soon to curb sub-standard imports Credit Suisse resists $1-bn bid by UBS 250-300 items on list; local players to benefit JAN-HENRIK FÖRSTER, EYK HENNING & DINESH NAIR March 19 SURABHI New Delhi, March 19 THE GOVERNMENT IS planning to come up with quality control orders for 250-300 goodsinthecomingmonthsaspartofastrategy to contain import of sub-standard products that tend to flood the markets and dent domestic manufacturing. Cigarette lighters, pens and household electrical items are some of the products that would be bound by the new norms. The department for promotion of industry and internal trade (DPIIT) is understood to be working on these quality standards,which are likely to be brought in NON-TARIFF MEASURES ■ Cigarette lighters, pens and household electrical items are some of the products that would be bound by the new norms ■ An import duty hike on these items is not being planned as of now over the next few months. Once notified, these products would have to bear certification by the Bureau of Indian Standards and imports of non-certified goods would not be permitted. Continued on Page 2 FY23 fiscal deficit target of 6.4% within reach: DEA secy PRASANTA SAHU New Delhi, March 19 THE CENTRE WILL rein in the fiscal deficit at the targeted 6.4% of the gross domestic product in the current financial year despite some likelyvariations in revenues and expenditures from the respective revised estimates, economic affairs secretary Ajay Seth told FE. Seth said a 6.5% economic growth next year appears to be likely and ‘rea- sonable’ and any adverse impact of the banking crisis in the advanced economies on India by way of capital outflows would be manageable, thanks to strong forex reserves. On the apprehension of a modest slippage from the fiscal deficit target for the current year due to a likely shortfall in tax revenues, the official said given the large Budgetwith several spending and revenue collection heads, there will always be some variations under some heads. Continued on Page 2 UBSGROUPISofferingtobuyCredit SuisseGroupforasmuchas$1billion, a deal that the troubled Swiss firm is pushingbackonwithbackingfromits biggestshareholder. Credit Suisse,which ended Friday with a market value of about 7.4 billion francs ($8 billion), believes the offeristoolowandwouldhurtshareholders and employees who have deferred stock, according to people withknowledgeofthematter. The UBS offer was communicated onSundaywith a priceof 0.25 francs a share to be paid in stock. UBS also insisted on a material adversechangethatvoidsthedealif its credit default spreads jump by 100basispointsormore,theFinancial Times reported. Credit Suisse closed down 8% to 1.86 francs at the close on Friday. Swiss authorities are seeking to broker a deal that would address a rout in CreditSuissethatsent shock waves across the global financial system over the past week when panicked investors dumped its shares and bonds following the collapse of several smaller US lenders. Continued on Page 2 INSIDE 9K JOB CUTS FORETASTE OF UBS TAKEOVER PAGE 7 SWITZERLAND WEIGHS NATIONALISATION PAGE 7
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