EL Manufacturing has firmed up plan to invest Rs.7,000 crore in Madhya Pradesh

[Instead of going for further investments, the THUG PROMOTERS should start paying dividend to the shareholders. All the profits generated are either eaten up by the promoters and the working staff or is used for expansion. There should be laws in India, to send these kinds of dishonest promoters to the place where they best deserve. The shareholders have not been rewarded for years, while the promoters are eating away most of the profits and is sucking the company, inside out. They are building the assets of the company, which they will sell at some point of time, show them as other income and pocket the cash (Remember another thug group, Essar Oil Ltd?). Since, this will be shown as other income therefore the share price would not react much and the shareholders will again be cheated. In the process they are increasing equity capital which will rob the EPS of the company, because the promoters (and staffs) will take away their usual salaries. So, what will be left for the minority shareholders, who have invested in the company? What a Strange kind of country we live in, where there are no laws to protect the minority shareholders!! Over and over we have a toothless, regulator, whose work is only to ban entities and nothing else. The case of SEL Manufacturing Company Ltd is not an isolated one, there are scores of companies listed in both the exchanges, who are doing the same thing, day and out.....in broad day--light, right under the nose of the SEBI....!! What an irony!! While people of this great country, are made to believe, by a seemingly corrupt media, that POLITICIANS are ONLY CORRUPT, the truth is that Corruption is now Nationalized---starting from media to bureaucracy, can you trust anyone? The People like Arvind Kejriwal are more interested in their Political Ambitions, rather than work for real social issues. I feel pity for some of these blind supporters of Kejriwal. Except few politicians like Dr.Kirit Somaiya (BJP Politician, from Bombay), I found there are very few others who looks after the interest of the man on the streets or retail investors....]

A five star hotel, which is a make shift secretariat of the Madhya Pradesh government during the two-day Global Investors Summit  was working 24x7 to facilitate meetings between the government officials and investors. On Sunday night when the officials especially from the industries department were reviewing preparations for the inaugural function of the meet at Labh Ganga Convention Centre, situated quite close to the five star hotel, investors were quite keen to close their investment deals. Two investors namely Hindustan Coppers and SEL Manufacturing were surprised with the rocket speed with which their proposals were scanned by the officials and signed MoUs at 12 midnight.
Hindustan Copper proposes to invest Rs 2,000 crore in Balaghat while SEL Manufacturing has firmed up plan to invest Rs 7,000 crore in the state.  Both visibly charged chief minister Shivraj Singh Chouhan and the additional chief secretary (industries) P Dash said they were also amused by the flow of investors and their confidence in the leadership and administration. "There is a single table model where any investor can meet me on Monday with my officials to discuss investment proposals and problems faced bythem. There is no fund funda nor donation business. All decisions are taken in a transparent manner," Chouhan said.
During the first day of the summit, Reliance ADAG chairman Anil Ambani announced investment of Rs 20,000 crore in power and cement in addition to the already proposed Rs 30,000 crore in the coal mining, power and cement in the state. The group would soon enter into MoU with the state government. Similarly, Procter & Gamble CEO Shantanu Khosla also announced investment of Rs 1,000 crore in health care. This is in addition to the existing plant in operation near Bhopal.
Further, the government exchanged  MoUs worth Rs 24,370 crore in the field of integrated steel, food processing, urea production, hospital and auto components.  The  list of MoUs include Amtek Metal and Mining for integrated steel plan and auto park (Rs 9,000 crore),  Future Ventures for integrated food park (Rs 2,500 crore), Steel Authority of India for iron orebeneficiation plant (Rs 5,000 crore), Zuari Fertilizers and Chemicals for urea production (Rs5,150 crore), Bharat Forge for new auto component plant (Rs 1,880 crore), Dmulasia Solar Energy for 100 MW project (Rs 1,000 crore), Cadbury India (Rs 550 crore), TCS for IT unit (Rs 410 crore), HUDCO  in infrastructure (Rs 2000 crore), VIT University for setting up new university (Rs 500 crore), Centum Work Skills for high end it is (Rs 80 crore) and Rockland Hospital (about Rs 200 crore).
Meanwhile, during the session on infrastructure development the government signed facilitation MoUs worth Rs 11,566 crore.  This is in addition to HUDCO’s Rs 2,000 crore as listed above for strengthening urban watersupply and urban infrastructure development schemes.
SPS Parihar, principal secretary, urban development said the government had advertised total shelf of projects worth Rs 30,078 crore in infrastructure sector. Interests have come for projects worth Rs 25,589 crore.

News Body, Courtesy: Business Standard