The three brothers who run the Haldiram in Nagpur and Delhi have decided to combine their businesses to create one snacking behemoth before filing a massive Initial Public Offering (IPO). This decision comes days after ethnic snacks major Bikaji, a company from the original Haldiram family, listed on the stock markets.
The Delhi entity is called Haldiram Snacks and the Nagpur entity is known as Haldiram Food International but the name of the combined entity is still being discussed.
Four brothers who divided the original Haldiram, which their grandfather Ganga Bishan Agarwal founded in 1932, now own both Haldirams and Bikaji. Shiv Kishan Agarwal, the eldest brother, is in charge of the Nagpur organisation, which has sway over the markets in west and south India. While Shiv Ratan Agarwal, the second brother, is in charge of Bikaji. Manohar and Madhusudan Agrawal, the two youngest brothers, are in Delhi and have control over the North markets.
They intend to merge the businesses in the upcoming year and apply for an IPO in 18 months. Additionally, they began discussing IPO ambitions with bankers.
Currently, the total market shares of the two Haldiram enterprises are 48.5 percent for Indian ethnic snacks and 8.6 percent for western snacks.
‘Maharashtra government responsive towards issues of traders,’ assures Eknath Shinde
At the outset Dr Dipen Agrawal, President of Chamber of Associations of Maharashtra Industry and Trade (CAMIT) welcomed Chief Minister, Eknath Shinde with a floral bouquet in prominent presence of Krupal Tumane MP, Ramtek and submitted memorandums highlighting harassment of traders by Local Body Tax department across the state under the garb of LBT Assessment. He also appraised about the issue of Nagpur Metropolitan Region Development Authority (NMRDA) and he further brought to the notice of CM about the exorbitant hike in rent by Corporations & their coercive action on traders.
Dr Agrawal on behalf of traders of Maharashtra expressed his gratitude towards Eknath Shinde about Local Body Tax being abolished (LBT with effect from August 2015. Though LBT was abolished in 2015 but the ghost of LBT is haunting traders now and then, department in routine are passing ex-party (best judgement) orders raising inflated and fictitious tax demands and using them to justify continuance of LBT Department. Records from LBT Appellate Authority will evidence the correctness of this statement. He also informed that LBT Department in various Corporation indulged in issuing back dated assessment orders for previous financial years. He appealed to CM that the issue requires his urgent attention, intervention and directions for closure of LBT Department in all Municipal Corporations with immediate effect to ensure ease of doing business in the state and save traders from unnecessary harassment.
Eknath Shinde acknowledged that he is aware of the issue. He assured to discuss the issue in cabinet and ensure that the issue is addressed on priority basis.
Dr Dipen Agrawal informed CM, that since last few years Municipal Corporations across the state stopped renewing lease/license of property leased/licensed by them. In 2019 the state government came up with Maharashtra Municipal Corporations (Renewal of Lease or Transfer of Immovable Property) Rules, 2019. These Rules were strongly opposed by trade associations. However, after its implementation the litigation between the lessee/tenants and Corporations went to court added Dr Agrawal.
After great persuasion by the then LOP, you as minister for UDD agreed to the demand to put the notification dated 13/09/2019 in abeyance and review the exorbitant annual rent at 8% property value and fix the annual rent acceptable to all stakeholders.
After the issue was raised on the floor of the house, the State government stayed the operation of notification dated 13/09/2019 and constituted a committee of government officers to review and fix fresh rent. When we approached few members of the committee to submit our suggestions’ we learnt that the committee is of opinion that the notification in question does not apply to the Licensee holder.
Hence, in the background of above facts and circumstances Agrawal requested CM, to intervene and have the pending notification issued and fix the rent at 0.5% of Ready Reckoner value for residential & 1% for commercial lease holder Galedharaks . He further requested to notify similar rules and frame a single policy for the Licensee Galedharaks across the state and in cases where shop/otta is licensed by Corporation the annual rent be fixed at the rate of 2% of value as per ready reckoner and as the lease/license fee will be calculated on ready reckoner the clause of periodic increase dose not survive also the lease / license should be transferable and transfer fee to be charged equal to one month rent/fee for transfer within blood relation and equal to three months’ rent/fee for transfer outside blood relation and the agreed new lease rent/license fee to be made applicable prospectively and not retrospectively.
Eknath Shinde said that the issue is under active consideration and assured to look into the matter and discuss with Chief Minister, Eknath Shinde to resolve the issue to the satisfaction of all stakeholders.
Dr. Dipen Agrawal further informed Eknath Shinde that the first notification declared 5 Km area touching outer limits of Nagpur Municipal Corporation (NMC) as Nagpur Metro Region issued in 1995 which was thereafter increased time to time to present limit of 25 Km from boundary of NMC. In 2010 Nagpur Improvement Trust (NIT) was entrusted with responsibility of Special Planning Authority for Nagpur Metro Region the limits. In 2012 NIT passed resolution for preparing development plan for Metro Region and published Draft Development Plan (2012-2032) calling objection and suggestions, in the year 2015. In 2017 Nagpur Metropolitan Region Development Authority (NMRDA) was established. In 2018 Final Development Plan (2012-2032) for Nagpur Metro Region was sanctioned and notified. NMRDA action is based on following three main reasons:-
1) Side margins are not as per 2012-2032 DCR; Dr. Agrawal highlighted that majority of units i.e., 59% were established before the 2012-NIT resolution and 85% were established before the first publication of 2015-Draft Development Plan (2012-2032), and pointed out that it is unjust on part of NMRDA to expect these units to maintain the margins prescribed in DCR (2012-32).
2) Building plan/ Non-agriculture use is not sanctioned by competent authority; Dr. Agrawal pointed out that under MRTP Act the power to change use of land is can be delegated to Thasildar and powers to authorise development to Gram Panchayat concerned. Invoking these powers Thasildar was approving and sanctioning NA Permissions and Gram Panchayat was sanctioning Building Plans. The units in good faith have taken these permissions from them and further submitted to other Government agencies.
3) Land earmarked for purpose other than industrial/commercial; MRTP Act provides for survey and preparing ‘existing-land-use’ map by Planning Authority after its declaration of intention of preparing a Development Plan. It is surprising to note that the area of many units established prior to declaration of intention of preparing Development Plan is not classified under industrial/commercial zone.
Dr. Dipen Agrawal humbly requested CM to grant an Amnesty Scheme for regularization wherein interest & penalty would be waived and also direct the authorities to notify that the MSME units established prior to 06/01/2018 (the date on which the DCR 2012-2032 for Nagpur Metropolitan Region was notified) should be saved from the provisions of the said DCR.
Eknath Shinde said that the government is sized with issue and assured to resolve the matter in the best interest of all stakeholders.
Dr. Dipen Agrawal, President-CAMIT on behalf of business community of the state expressed his gratitude towards Eknath Shinde, Chief Minister, Krupal Tumane, Member of Parliament, Ramtek for being sensitive towards the issues of trade & industry of the state.
Nagpur’s iconic Sudama Talkies to transform into multi-story complex
The long-standing iconic Sudama Talkies on West High Court Road (WHC) in Nagpur will shortly be made into brand-new multi-story business complex. Anand, starring Rajesh Khanna, was shown at the theater’s debut in 1971 and played for 100 days.
The theater’s third generation owner, Praneet Singh, stated that the previous name Sudama would be kept. R Sandesh Group and Murarka Group, who have recently entered the picture, would build the new property. Founded by Ramdeo and Dilip Agrawal, R Sandesh is a business. Shanker Murarka, Kishore Murarka, and Brajesh Murarka are the leaders of the Murarka Group.
According to one of the marketers, both businesses are heavily involved in the city’s real estate market and are developing upscale residential projects there as well.
One of the leaders of Murarka Group Kishore Murarka said, “All paperwork and other formalities have been completed, and ownership will be transferred by the end of December. By January, construction on the foundation is expected to start. The goal is to develop the city’s most prestigious project. The new facility would feature major brands as well as a two-screen miniplex. A double basement parking area will be constructed to address the shortage of space on WHC Road.
RD Byohaar, Singh’s grandfather, constructed the theatre. Singh, who was a child at the time, still recalls the Anand screening that earned the theatre an honour. When a movie played in theatres for 100 consecutive days, producers used to give them awards, he explains.
He said, “It was Sudama when it was built and then leased out to third party for operations. They had renamed it as Saroj. Later when we took over it in 1991, it was again named Sudama.”
The best period for theatres, in Singh’s opinion, was from the 1970s to the mid-1990s, after which things began to gradually change. For single screens and multiplexes, there are different classes of viewers. However, there has been a significant change in focus since Covid. Even an ordinary movie used to last a week back then. He claimed that some movies these days don’t even last that long.
Department shall work in coordination with trade & industry to ensure safety of goods, people: Rural SP Vishal Anand
Delegation of Chamber of Association of Maharashtra Industry & Trade (CAMIT) led by President, Dr Dipen Agrawal called upon the newly appointed Superintendent of Police (Nagpur Rural), Vishal Anand Singuri (IPS) and welcomed him with Tiranga dupatta and floral bouquet on behalf of business community of Nagpur.
Dr Dipen Agrawal, welcoming Vishal Anand Singuri said that, due to geographical advantage Nagpur plays an important role in logistic sector. North-South and East-West corridors cross here, hence there is substantial movement of passenger and goods by air, rail and road. Over the period of time small but important business pockets have developed in rural areas of Nagpur, he added.
Dr Dipen Agrawal also informed SP, Nagpur that anti-social elements are active on Nagpur-Raipur highway. There are instances of stealing material from the trucks plying between Raipur and Nagpur and sometimes they steal the loaded vehicle itself. Instances stolen goods changing hands under the garb of dhaba (roadside food joint), daily-need or building material shop is encountered by traders on daily basis. This has become canker for business community and some strict action should be taken, he requested.
Dr Agrawal suggested Vishal Anand Singuri to constitute “Police Mitra Committee” on lines Nagpur Police Commissionerate for all main market place of rural areas. Committee may meet at regular intervals wherein important and instant decisions to ensure public safety can be taken. This committee is the need of the hour to strengthen the hands of police department for maintaining socio-economic fabric of society.
Vishal Anand Singuri accepting the welcome said that he shall leave no stone unturned to ensure the safety and security of goods in transit. He assured to study the proposal to constitute the Police Mitra Committee for rural areas. He also assured to call upon the trade & industry representatives to discuss their issues to decide future course of action.
Rajesh Sarda, President – Steel and Hardware Chamber of Vidarbha, Ashok Sanghvi, President – Nagpur General Merchants Association and Sanjay K. Agrawal, Vice President (Nagpur) CAMIT were part of delegation.
Dr Dipen Agrawal on behalf of business community expressed gratitude towards SP, Vishal Anand Singuri (IPS) for his time and assured that businessmen are committed to work in tandem with department for making district more safe place for citizens and traders as well.