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Cabinet considers Model Shops and Establishments (Regulation of Employment and Conditions of Service) Bill, 2016

Cabinet considers Model Shops and Establishments (Regulation of Employment and Conditions of Service) Bill, 2016

Jun 29,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has considered the Model Shops and Establishment (Regulation of Employment and Conditions of Service) Bill, 2016. The Bill will now be sent to States/UTs to enable them to modify their individual Acts, if they so desire either by adopting the said Bill as it is or after modifying its provisions as per their requirements. This Bill was finalised after detailed deliberations and discussions with public through internet and with employees/labour representatives, employers associations/federations and State Governments through tripartite consultative process.

The main features of the draft model Bill are as follows:-

n++ It will cover only establishments employing ten or more workers except manufacturing units.

n++ The Bill provides for freedom to operate 365 days in a year and opening/closing time of establishment.

n++ Women to be permitted during night shift, if the provision of shelter, rest room ladies toilet, adequate protection of their dignity and transportation etc. exists.

n++ No discrimination against women in the matter of recruitment, training, transfer or promotions.

n++ Online one common Registration through a simplified procedure.

n++ Powers of Government to make rules regarding adequate measures to be taken by the employer for the safety and health of workers.

n++ Clean and safe drinking water.

n++ Lavatory, creche, first aid and canteen by group of establishments, in case, it is not possible due to constraint in space or otherwise by individual establishment.

n++ Five paid festival holidays in addition to national holidays etc.

n++ Exemption of highly skilled workers (for example workers employed in IT, Biotechnology and R&D division) from daily working hours of 9 hours and weekly working hours of 48 hours subject to maximum 125 over-time hours in a quarter.

The Model Bill would bring about uniformity in the legislative provisions, making it easier for all the States to adopt it and thereby ensuring uniform working conditions across the country and facilitate the ease of doing business and generate employment opportunities.

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Khoday India reports standalone net loss of Rs 6.39 crore in the June 2016 quarter
Aug 26,2016

Net Loss of Khoday India reported to Rs 6.39 crore in the quarter ended June 2016 as against net loss of Rs 12.75 crore during the previous quarter ended June 2015. Sales declined 4.43% to Rs 32.57 crore in the quarter ended June 2016 as against Rs 34.08 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales32.5734.08 -4 OPM %-2.82-17.22 - PBDT-4.75-10.93 57 PBT-6.39-12.75 50 NP-6.39-12.75 50

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Triveni Engineering and Industries reports consolidated net profit of Rs 48.23 crore in the June 2016 quarter
Aug 26,2016

Net profit of Triveni Engineering and Industries reported to Rs 48.23 crore in the quarter ended June 2016 as against net loss of Rs 89.22 crore during the previous quarter ended June 2015. Sales rose 18.93% to Rs 599.00 crore in the quarter ended June 2016 as against Rs 503.64 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales599.00503.64 19 OPM %17.08-8.96 - PBDT70.12-79.68 LP PBT56.95-93.03 LP NP48.23-89.22 LP

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Triveni Engineering and Industries reports standalone net profit of Rs 42.80 crore in the June 2016 quarter
Aug 26,2016

Net profit of Triveni Engineering and Industries reported to Rs 42.80 crore in the quarter ended June 2016 as against net loss of Rs 92.88 crore during the previous quarter ended June 2015. Sales rose 18.93% to Rs 599.00 crore in the quarter ended June 2016 as against Rs 503.64 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales599.00503.64 19 OPM %17.08-8.95 - PBDT70.13-79.68 LP PBT56.96-93.03 LP NP42.80-92.88 LP

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Alankit standalone net profit rises 472.73% in the June 2016 quarter
Aug 26,2016

Net profit of Alankit rose 472.73% to Rs 1.89 crore in the quarter ended June 2016 as against Rs 0.33 crore during the previous quarter ended June 2015. Sales rose 763.82% to Rs 13.13 crore in the quarter ended June 2016 as against Rs 1.52 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales13.131.52 764 OPM %21.6332.24 - PBDT2.840.49 480 PBT2.490.44 466 NP1.890.33 473

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JBF Industries standalone net profit declines 49.59% in the June 2016 quarter
Aug 26,2016

Net profit of JBF Industries declined 49.59% to Rs 9.83 crore in the quarter ended June 2016 as against Rs 19.50 crore during the previous quarter ended June 2015. Sales rose 4.69% to Rs 940.02 crore in the quarter ended June 2016 as against Rs 897.92 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales940.02897.92 5 OPM %7.1511.11 - PBDT32.8553.89 -39 PBT8.2928.78 -71 NP9.8319.50 -50

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Board of Steel Strips Wheels allots equity shares under ESOS
Aug 26,2016

Steel Strips Wheels announced that the Board of Directors of the Company at its meeting held on 26 August 2016, approved the allotment of 11450 equity shares of Rs 10 each under ESOS 2014. With the said allotment, the paid up capital of the Company increased to 15533520 equity shares of Rs 10 each.

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Gokaldas Exports allots equity shares
Aug 26,2016

Gokaldas Exports announced that via circular resolution passed by the Nomination and Remuneration Committee meeting of the Board of Directors of the Company held on 23 August 2016 for issue and allotment of a total of 6667 equity shares of the face value of Rs. 5/- each in accordance with the terms of Employees Stock Options Schemes (ESOS) 2010.

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Rupee plunges
Aug 26,2016

Rupee closed lower at 67.0575/0675 per dollar on Friday (26 August 2016), versus its previous close of 67.02/03 per dollar.

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State Bank of India announces cessation of director
Aug 26,2016

State Bank of India announced that Tribhuwan Nath Chaturvedi, a Director nominated under Section 19(d) of the SBI Act, 1955, will cease to be a Director on the Banks Central Board, consequent upon completion of his term as at the close of business on 28 August 2016.

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IndusInd Bank opens its first branch in Pathankot District
Aug 26,2016

IndusInd Bank inaugurated a new branch in Pathankot district of Punjab.

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Bharat Financial Inclusion issues Commercial Paper aggregating Rs 25 crore
Aug 26,2016

Bharat Financial Inclusion announced that the Company issued Commercial Papers of an aggregate amount of Rs. 25 crore on 26 August 2016, which have been rated A1 + by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.

The aggregate amount of Commercial Paper outstanding as on date is Rs. 300 crore.

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Cera Sanitaryware provides update on subsidiary
Aug 26,2016

Cera Sanitaryware announced that Anjani Tiles, Subsidiary Company has further allotted 20,40,000 1% Cumulative Redeemable Preference Shares of Rs. 10/- each to the Company.

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Punjab Alkalies & Chemicals announces resignation of director
Aug 26,2016

Punjab Alkalies & Chemicals announced about the following changes in the Companys Directorate:

- Cessation of Gurneet Tej as Director of the Company consequent upon her resignation from the Directorship of the Company with immediate effect i.e. with effect from 12 August 2016.

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Yash Chemex to hold board meeting
Aug 26,2016

Yash Chemex will hold a meeting of the Board of Directors of the Company on 3 September 2016.

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Newever Trade Wings to hold board meeting
Aug 26,2016

Newever Trade Wings will hold a meeting of the Board of Directors of the Company on 2 September 2016 Accounts

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