Thursday, 21 September 2017

Annual General Meeting of MSTC Limited held at Kolkata on 21.09.2017

The Annual General Meeting of MSTC Ltd. for the year 2016-17 was held at its registered office situated at 225-C, AJC Bose Road, Kolkata-700 020.  Shri B.B. Singh, Chairman & Managing Director, Shri A.K. Basu, Director(Finance), representative of Ministry of Steel, Shri S. Narayanaswamy, Under Secretary to the Govt. of India and senior representatives of Shareholders were present in the meeting.  CMD addressed the gathering.

Address of Chairman & Managing Director are as follows :-

Chairman’s Statement

Dear Shareholders,
I heartily welcome you all to this 52ndAnnual General Meeting of the Company.  I am before you in this meeting for the 8thtime and this is my second meeting as CMD of the company, a role and responsibility bestowed upon me by the Government who is the major shareholder. I assure all of you and the other stakeholders who are not present here, that no effort, big or small, shall be missed, which aims to make MSTC a bigger, stronger and an efficient organisation, keeping best governing practices in place.
The Board’s Report, Auditors’ Report and Financial Statements have been received by you and I take them as read. We have ended the year with a Profit after Tax (PAT) of Rs. 6,543Lakh compared to Rs. 6,010Lakh for the previous year. In term of volume of business, we are up by 67 %.Your company is the fastest growing company in e-commerce sector. On the basis of its performance and reputation, Central Government, PSUs and State Governments and even private companies have given various kinds of jobs to MSTC.

During FY 2016-17, MSTC has successfully conducted e-bidding for allocation of major mineral blocks containing limestone, iron ore, gold and diamond in different states like Chhattisgarh, Jharkhand, Odisha, Karnataka, and Rajasthan. Besides, MSTC has an e-bidding portal for allocation of minor mineral blocks in Chhattisgarh. The contract for collection of Royalty on minerals being transported in Rajasthan has also been awarded through MSTC’s e-bidding system during 2016-17. MSTC has implemented the e-auction of coal linkage auction for non-regulated sector for Coal India Limited during the last fiscal. There is a prospect of huge business coming in from various states for minerals, particularly sand mining blocks which were being allocated in physical manner. MSTC has opened offices in these states to make this business happen in a seamless manner. MSTC has also conducted e-auction of confiscated Red Sanders for a value of Rs. 352 Crore on behalf of Govt. of Andhra Pradesh. Diversifying its e-business in steel sector, MSTC launched MSTC METAL MANDI “M3”, which is a virtual marketplace for B2B & B2C transactions for sale and purchase of iron, steel and Non Ferrous products especially.
During 2016-17, MSTC has delivered certain key e-bidding packages for various ministries of Government of India. The DEEP portal became fully operational for short term PPA and PPAs worth more than one lakh MW was settled through this portal. MSTC completed the transactions under DDUGJY scheme for bulk procurement of transformers, conductors and cables for various DISCOMs all over the country.  During the last fiscal, MSTC introduced the e-bidding platform for tariff based competitive bidding for selection of inter-state transmission service provider. MSTC also successfully developed and executed the bidding for discovered small oil & gas fields for Ministry of Petroleum & Natural Gas.
Coming to the shareholders’ issue,MSTC capitalized reserves by issue of fully paid bonus shares for the first time in 1993 at the rate of 1:1 and again in 2012-13at the rate of 3:1. The paid up capital which was initially Rs. 1.1 Crore rose toRs. 8.8 Crore.In 2015-16further issue of bonus share @ 1:1 enhanced the paid up capital to Rs. 17.6 Crore.Issue of bonus sharesat the rate of1:1 for 2016-17 was further, approved in the last AGM, and onapproval of the Government, the shares have already been allotted to shareholders.I am happy to announce that the share capital of the company as on datestands at Rs. 35.2 Crore.We have paid interim dividend at the rate of 95% on paid up capital of Rs. 17.6 Crore  during 2016-17 and have proposed a final dividend at the rate of 71% on enhanced paid up capital of Rs.35.2 Crore. The trend shows that year after year the shareholders’ value have been enhanced leading to substantial growth in Government’s investment as well as private investors who hold 10.15% of shares.

I would like to inform that few internal restructuring of the organisation and HR Policies are being made, all with an intention to deliver better service to our clients and thereby to remain strong in business on sustained basis. Recruitment at entry and lateral levels are being made to replace the superannuating employees and also to cope up with the new business. Your Company has not lost a single manday during the last year and industrial relations have been  extremelycordial.

MSTC has formed a Joint Venture Company “Mahindra MSTC Recycling Pvt. Ltd.” with Mahindra Intertrade Ltd which hasacquired a land in Greater Noida for setting up of the first ever collection dismantling centre in India.

North East Region is rich in agri and forest produce. Looking at the vast potential of North Eastern Region, MSTC has embarked upon developing eco system bringing all the enabling partners such as an aggregator, Central Rail side Ware housing Corporation (CRWC), for logistic support. This eco system will not only improve the financial status of the growers but also prevent the crops from colossal wastage and make available niche products to the main land of the country. This collaborative effort may play an important role as envisaged in the Government policy for the development of the North East Region.
MSTC Ltd has launched anationwide electronic portal – eRAKAMfor trading in the horticulture products.The online trading platform which primarily deals in food grains, vegetables, fruits, spices and all agriculture related commodities and connected farmers directly with consumers, has launchedforward trading in pineapple, ginger among a number of other such commodities to make the platform successful. Soon after the launch of e-RAKAM portal, MSTC conducted e-auctions for sale of moong dal on behalf of NAFED and discussion is in advance stage with MMTC and other organisations for sale of other agri produces.

MSTC has setup a new department to promote e-retail software services keeping in mind huge business opportunities in this sector. MSTC has developed an unique software for oil marketing companies (OMCs) for online computerized draw system for selection of LPG distributors in all the districts of our country.

You are aware that MSTC is a socially aware company and have taken up various social upliftment projects throughout the country. Your company follows the best and fair trade practices. Ethical and social values do find a place in taking corporate decisions. This is apart from complying with CG Guidelines under the Regulations and DPE Guidelines.To give better and seamless services to shareholders, the shares have been dematerialised under NSDL and shortly will be dematerialised with CDSL also. Efforts are being made to make bank transfer of dividend. I request all the shareholders to furnish bank details for electronic transfer.

Lastly I acknowledge humbly the trust and faith reposed on me and my team by Government, who holds majority stake and is administrative controller of the Company, the non-Government shareholders, principals, the bankers, various State Governments and lastly the employees of the Company.

Wishing you the best wishes for Durga Puja, Deepavali and festivals coming ahead.

Thanking you,
Jai Hind!

Kolkata                                                                                              B. B. Singh
21st September, 2017                                                 Chairman-cum-Managing Director

स्वच्छ भारत अभियान

एमएसटीसी में स्वच्छ भारत अभियान की तौर पर 15 सितंबर से 05 अक्टूबर 2017 तक स्वच्छता कार्यक्रम चल रहा है। 21.9.2017 को 10.30 बजे अध्यक्ष एवं प्रबंध निदेशक एवं निदेशक(वित्त) ने स्वच्छता शपथ हिंदी-अंग्रेजी में पाठ किया है, जिसको उपस्थित सभी कर्मचारी ने दोहराया है। 21.9.2017 को 4.00 बजे एमएसटीसी के अध्यक्ष एवं प्रबंध निदेशक तथा निदेशक वित्त, वरिष्ठ कार्यपालकगण एवं अन्य कर्मचारीगण  कार्यालय के चारों तरफ सफाई करेंगे। इस अवधि के दौरान, सफाई जागरूकता कार्यक्रम तथा प्रतियोगिता का आयोजन भी किया जा रहा है।

6th India Minerals & Metals Forum : Ferrous & non-Ferrous

Shri B B Singh, CMD, MSTC Limited participated in the program on 20.09.2017

News appeared in Raipur Chronicle, Tuesday September 19, 2017

Wednesday, 20 September 2017

राजभाषा त्रिमास उद्घाटन समारोह

हर वर्ष की तरह इस वर्ष भी 14 सितम्‍बर, 2017 को राजभाषा त्रिमास उद्घाटन समारोह का आयोजन किया गया। राजभाषा त्रिमास 14 सितम्‍बर से 13 दिसम्‍बर, 2017 तक चलेगी। इस समारोह का उद्घाटन श्री बी बी सिंह, अध्‍यक्ष एवं प्रबंध निदेशक ने किया। इस समारोह में श्री बी बी सिंह, अध्‍यक्ष एवं प्रबंध निदेशक ने गृह मंत्री जी और श्री ए के बसु, निदेशक(वित्‍त) ने इस्पात मंत्री जी का संदेश पाठ किया । श्री एस अम्‍बष्‍ठ, मुख्‍य सतर्कता अधिकारी ने अपने भाषण से हिंदी में कामकाज के प्रति प्रेरणा प्रदान की । इस समारोह में निगम के अधिकांश कार्मिक उपस्थित थे । इसमें कविता पाठ प्रतियोगिता का भी आयोजन किया गया था, जिसमें कार्यालय के कई कार्मिकों ने अंशग्रहण किया। इसके अतिरिक्‍त चंपारण सत्‍याग्रह शताब्‍दी समारोह के दौरान आयोजित निबंध लेखन एवं स्‍लोगन लेखन प्रतियोगिता के विजयी प्रतिभागियों का नाम भी घोषित किया गया।

Friday, 25 August 2017

MSTC set to launch forward trading in niche horticulture products

The government owned mini-ratna MSTC Ltd is planning to launch forward trading in the horticulture products sector to support its recently launched nationwide electronic portal - eRaKAM.

The online trading platform which primarily deals in food grains, vegetables, fruits, spices and all agriculture related commodities and connected farmers directly with consumers, is all set to launch forward trading in pineapple and mango among a number of other such commodities to make the platform successful. Union Food Minister Ram Vilas Paswan, had last week said that around 2 million tonnes of pulses procured by the Food Corporation of India (FCI), would be auctioned on eRaKAM to begin with.

MSTC, however, does not feel the need to get regulatory approval for launching forward trading as it is proposing it in the horticulture commodities speciallly perishable commodities which are not traded in futures segment. Securities and Exchange Board of India (Sebi) had suspended such forward trading in January 2016.

"There is a normal practice in remote Indian villages to sell entire mango fruits for the season in an orchard at the time of flowering. This practice is prevalent since ages without any regulatory approval. If we are allowing mango / pineapple farmers to know their realisation at the time of flowering, farmers would be encouraged to take care of their fruits better. It is better, if farmers find buyers well ahead of harvesting of their products to reduce spoilage, as horticulture is a product with short shelf life. For cereals, however, forward contracts may not be needed due to their long shelf life. Meanwhile, MSTC is just a platform and not trading in any commodity," said B B Singh, chairman and managing director, MSTC.

Through its home grown technology, MSTC is engaged in the e-auctions of cereals, sandalwood, land parcels, teak wood and other such products on behalf of the state and central governments through its own e-portal.

It's newly launched electronic commodity trading platform eRaKAM, however, is dedicated to farmers in the Northeast who would be able to sell their commodities to the highest bidders across the country and fetch higher price.

"The target customers for eRaKAM portal are farmers, farm producer organisations (FPO), federation of farmer cooperatives, institutional agencies like Nafed, FCI, Apeda, mill owners etc on one hand and the traders, institutional buyers like Mother Dairy, Spencer, Metro etc in the other," Singh said.

The launch of eRaKAM has raised eyebrows as a similar government project — electronic National Agricultural Mandi (eNAM) — launched by the Small Farmers Agribusiness Consortium (SFAC) in April 2016, failed to attract adequate liquidity despite having connected with around 500 agricultural spot mandis across the country.

Meanwhile, moving in tandem with the electronic trade wave, India Farmers Fertiliser Cooperative (Iffco) has introduced Iffco Bazar, an online marketplace (online mandi) for farmers wherein they can buy and sell their products to farmers located anywhere across the country. Through this, Iffco aims to connect and bring on board all the 50 million IFFCO member farmers and the 36,000 cooperatives in the country on a single digital platform.

Existing private player in this business NCDEX eMarkets Ltd (NeML) has, however, gained handsome traction from traders especially in Karnataka where its parent National Commodity & Derivates Ltd (NCDEX) has modernised spot mandis.
 News published in Business Standard | Kolkata | Thursday, 24 August 2017

Saturday, 19 August 2017

नगर राजभाषा कार्यान्‍वयन समिति, कोलकाता की ओर से निगमित कार्यालय वर्ग में एमएसटीसी लि. के प्रधान कार्यालय को राजभाषा के क्षेत्र में श्रेष्‍ठ निष्‍पादन हेतु 12.08.2017 को पश्चिम बंगाल एवं बिहार के माननीय राज्‍यपाल श्री केशरीनाथ त्रिपाठी जी के द्वारा पुरस्कार प्रदान किया गया। एमएसटीसी लि. की ओर से यह पुरस्‍कार श्री बी बी सिंह, अध्‍यक्ष एवं प्रबंध निदेशक ने प्राप्‍त किया। श्रीमती दीपान्विता राय, वरिष्‍ठ प्रबंधक, राजभाषा को महिमहिम राज्‍यपाल के द्वारा प्रशस्ति-पत्र दिया गया। इस सम्‍मान को प्राप्‍त कर समस्‍त एमएसटीसी परिवार गर्वित है।

Thursday, 10 August 2017

Shri BB Singh, CMD of MSTC LTD, a Mini Ratna Category-I PSU under Ministry of Steel, Govt. of India met Chief Minister of Manipur Shri N Biren Singh in Imphal on 10th August, Thursday to discuss the thrust areas wherein MSTC’s expertise and experience would be utilised to execute various e-commerce projects in the state of Manipur. Shri Singh apprised Hon'ble CM about MSTC's e-commerce services which are being utilised in many flagship projects of Govt. of India viz. Deen Dayal Upadhayay Gram Jyoti Yojana, Ude Desh Ka Aam Naagrik (UDAN) scheme, e-auction of Mining lease and composite licence. MSTC is already conducting E-auctions to sell various agro-forest products of North -East like ginger, pineapple, hill grass, black pepper etc.

Wednesday, 9 August 2017

CMD called on Chief Secretary, Government of Meghalaya on 9th August 2017

CMD called on Chief Secretary, Government of Assam on 8th August, 2017

Thursday, 3 August 2017

The e-RaKAM portal for selling agri produce was successfully inaugurated on 01-08-2017  by Hon'ble Steel Minister Chaudhary Birender Singh and Hon'ble Consumer Affairs, Food & Public Distribution Minister Ram Vilas Paswan. It's a remarkable foray by MSTC in the agricultural sector in collaboration with CRWC.

Tuesday, 25 July 2017

NEW DELHI: The Union Minister for Steel, Shri Chaudhary Birender Singh launching a dedicated e-portal for online sales of steel products by RINL through MSTC Metal Mandi, in North Eastern Region of the country, in New Delhi on July 20, 2017. The Minister of State for Steel, Shri Vishnu Deo Sai, the Secretary, Steel, Dr. Aruna Sharma, the CMD, RINL, Shri P. Madhusudan and the CMD, MSTC, Shri B.B. Singh and others are seen.

Friday, 21 July 2017

Now, log in or walk into forest dept depots for choicest logs

Bengaluru: The forest department has eased the retail sale of timber. People can now walk into any of the depots of the department and buy timber.
Aimed at making timber available easily and bringing in transparency in business, the department will offer 21 species of timber on sale.
Forest, Environment and Ecology Minister Ramanath Rai launched two new timber sale schemes. People can take part in online tender and auction or visit any depot and pick the wood they want.
Brijesh Kumar Dikshit, additional chief conservator of forests, Forest Resource Management, told DH the department had tied up with MSTC for e-auction of timber and e-tendering of sales. MSTC is under the Ministry of Steel and all the iron ore from the state is sold through it.
"The department will make available details of the quantity, quality and rate of timber online. The list of all the 42 depots in the state and species of logs available will be posted online. Individuals can purchase the logs online or visit the depots personally to buy the wood," he said.
However, each individual can make direct purchase from the depot only once. At the time of purchase, he or she has to submit details of PAN card, Aadhaar card, certified building plan and copies of permission documents.
Based on the size of the house proposed to be built, the department officials will help the buyer decide on the quantity of wood required. For instance, the department has calculated that for one square metre, one cubic foot of wood is required. Individuals can buy wood of more than one species of trees, Dikshit said.
He said timber sale had been eased to ensure middlemen are eliminated and people get quality timber. All the wood available in the depots is naturally fallen wood or dead trees.
"There was an elaborate process in the sale of timber and it acted as a deterrent. There have been instances where applications would be directed to the forest department head office for permission. We used to receive at least 500 applications from individuals annually and signing the orders would take long. Now, we hope the number of buyers doubles. It will help the department clear stocks of logs in the depots," he said.
DH News Service

Published in Deccan Herald, 18th July, 2017 Edition

Friday, 7 July 2017

The Hon’ble Minister of State for Power, Coal, New and Renewable Energy and Mines (Independent Charge), Shri Piyush Goyal launching the e-bidding portal , Flexible Coal Scheme in New Delhi on July 05, 2017. The Secretary, Ministry of Power, Shri Ajay Kumar Bhalla and other dignitaries are also seen. This is bidding platform is made by MSTC.

Thursday, 6 July 2017

CMD MSTC meeting with Chief Minister of Uttar Pradesh and other dignitaries

Shri BB Singh, CMD of MSTC Ltd, a leading e-commerce company of Ministry of Steel, met Hon'ble CM Shri Yogi Aditya Nath at Lucknow on 1st July.

Shri Singh apprised Hon'ble CM about MSTC's e-commerce services which are being utilised in many flagship projects of Govt. of India viz.Deen Dayal Upadhayay Gram Jyoti Yojana, Ude Desh Ka Aam Naagrik (UDAN) scheme, e-auction of Mining lease and composite licence.

In line with the promotion of e-Governance and to strengthen it further, Shri Singh offered MSTC's e-Commerce services to Hon'ble CM which may be utilised by all Govt. departments of UP.

Shri Singh also called on Shri Raj Pratap Singh, Addl Chief Secretary (Geology and Mines) and Shri Sudhir M Bobde, Principal Secretary (Animal Husbandary and Fisheries) to discuss the thrust areas wherein MSTC's expertise and experience may be utilised to execute various e-commerce projects.