Press release from Business Wire India
Source: Brickwork Ratings
Saturday, October 03, 2009 01:01 PM IST (07:31 AM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Stock exchanges
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Brickwork Ratings Assigns "BWR AA-" for Long Term Debt and BWR P1+ for Short Term Debt (with Maturity Beyond 12 Months and up to 18 Months) for IFCI Limited's Existing and Proposed Debt Issues Aggregating INR 10,000 crores or INR 100 billion
Long Term Debt: BWR AA-, Short Term Debt: BWR P1+ ; Outlook : Stable
Bangalore, Karnataka, India, Saturday, October 03, 2009 -- (Business Wire India) -- Brickwork Ratings assigns "BWR AA-" (Pronounced BWR Double A minus) for long term debt and BWR P1+ (pronounced BWR P1 plus) for Short Term debt (with maturity beyond 12 months and up to 18 months) for IFCI Limited's existing and proposed debt issues aggregating Rs.10000 Crores (Rupees Ten thousand Crores) or INR 100 billion. Brickwork Ratings' 'BWR AA-' stands for an instrument that is considered to offer HIGH credit worthiness in terms of timely servicing of principal and interest obligations and 'BWR P1+' stands for an instrument that is considered to offer EXCELLENT credit quality in terms of timely servicing of short term debt obligations.
The rating factored growth in sanctions and disbursement of loans, reduction in NPAs through effective recovery measures, comfortable capital adequacy, and initiatives being taken by the management to improve performance and leverage on its core competency.
Industrial Finance Corporation of India (IFCI) was established in 1948, by the Central Government as the first Development Financial Institution in the country to provide medium and long-term financial assistance to the industrial sector. IFCI was incorporated as a limited company in the year 1993 and was renamed as IFCI Limited through repeal of the Industrial Finance Corporation Act. The company is essentially involved in project financing but also provides other financial, leasing, and merchant banking services. IFCI provides medium term and long-term financial support to all segments of the Indian industry.
PERFORMANCE
IFCI earned a net profit in the year 2006-07 after a gap of about seven years. It has maintained the profitability trend since then. Total income in the year FY09 was Rs 1484 Crores. However, it has declined from Rs 2111 Crores in FY08. IFCI had registered net profit of Rs 898 Crores in the year 2006-07 as substantial income and consequent profits were generated through sale of shares and recoveries from NPAs. During the financial year 2007-08, IFCI had entered secondary equity market and generated large amounts of profits from short term transactions as well as by exiting from other stocks at appropriate times. Profit before tax for the year FY08 was Rs 1668 Crores while it stood at Rs 1010 Crores for the year FY09. Other income declined by Rs 66 Crores from Rs 148 Crores in FY 08 to Rs 82 Crores in FY 09.
Asset Quality: The gross NPAs are mainly on account of legacy accounts and have been on declining trend over past three years. IFCI has made full provisions for bad loans because of which its net NPAs were nil for FY07 and FY08. The net NPA however increased to 5.6% in FY09. IFCI's major exposure in FY08 was in Iron & Steel industry at 27.6% which has come down to 19.6% in FY09. IFCI continued to aggressively pursue recoveries from NPAs that resulted in recoveries of Rs 1200 Crores in FY08 and Rs 600 Crores during FY09.
IFCI had capital adequacy ratio of 19.7% as on 31st March 2009. During FY 09, IFCI's Net Worth had improved to reach Rs 3741 Crores over the previous year's Rs 3325 Crores. The Return on Assets stood at 4.87% during FY 09 while ROE was 17.57% in FY 09 as compared to 30.7% at end of FY 08.
IFCI has put in place Enterprise-wide risk management systems (ERMS) and controls to identify, measure, monitor and mitigate the overall level of risks undertaken.
OUTLOOK
IFCI is trying to reestablish itself as a major player in corporate finance by leveraging its knowledge pool, quality human capital, and institution building capabilities with focus on manufacturing, infrastructure, and service enterprises. It has targeted a growth of about 20% per annum. In addition to the core business of industrial and infrastructure project financing with an exit route within a definite timeframe, IFCI is looking to diversify to other areas such as short term loans with tenure of 1 to 3 years, structured financing while taking security coverage through pledge of shares, leveraging its expertise as the nodal agency for Sugar Development Fund to take up appraisal of sugar manufacturing units, expanding the advisory services business, and leveraging its unique capabilities in the asset resolution business. Risk management systems and practices are being strengthened and services of reputed consultants have been engaged for implementing enterprise-wide risk management system. IFCI's investment portfolio consists of some very attractive and valuable investments. While these are all positive features, IFCI's ability to source low cost long term funds, induct a suitable strategic investor and cautiously increase its lending activities is crucial to its future growth.
Copyright ©, 2009, Brickwork Ratings
Brickwork Ratings has assigned the rating based on the information obtained from issuer and other reliable sources, which are deemed to be accurate. Brickwork has taken considerable steps to avoid any data distortion; however, it does not examine the precision or completeness of the information obtained. And hence, the information in this report is presented "as is" without any express or implied warranty of any kind. Brickwork does not make any representation in respect to the truth or accuracy of any such information. The rating assigned by Brickwork should be treated as an opinion rather than a recommendation to buy, sell or hold the rated instrument and BWR shall not be liable for any losses incurred by users from any use of this report or its contents. Brickwork has the right to change, suspend or withdraw the ratings at any time for any reasons.
CONTACT DETAILS
A Suresh Kumar, Ph.D - Lead Analyst, Brickwork Ratings, 1-860-425-2742, suresh.kumar@brickworkratings.com
Milind Diwakar, MBA - Co-Analyst, Brickwork Ratings, 1-860-425-2742, milind.d@brickworkratings.com
Anitha G, Media Contact, Brickwork Ratings, 1-860-425-2742, media@brickworkratings.com
Rajender Walia, Director - Business Development, Brickwork Ratings, 1-860-425-2742, rajender.walia@brickworkratings
KEYWORDS
CONSUMER, ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
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Saturday, October 3, 2009
BWI: MCHI Property 2009 Got Overwhelming Response in First 2 Days
Press release from Business Wire India
Source: Maharashtra Chamber of Housing Industry (MCHI)
Saturday, October 03, 2009 12:31 PM IST (07:01 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Construction, Real estate
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MCHI Property 2009 Got Overwhelming Response in First 2 Days
Mumbai, Maharashtra, India, Saturday, October 03, 2009 -- (Business Wire India) -- 'Property 2009' the country's biggest real estate expo presented by MCHI and SBI at MMRDA grounds at Bandra Kurla Complex in the first 2 days receives overwhelming response from home buyers.
Property 2009, India's only official and biggest real estate and housing finance exhibition organized bi-annually by the MCHI from last ten years, is a one-stop destination for the potential property buyers in Mumbai. It offers home buyers a wide range of properties both budget, High End and Commercial Properties along with a wide choice of Home Loan options.
As many as 75 real estate developers would be showcasing the properties located in Mumbai and the suburban areas, Thane, Navi Mumbai, Pune and other parts of India during the exhibition.
Prominent housing finance companies such as Leading Banks are participating in the exhibition, offering their best deals.
Mr. Pravin Doshi, President MCHI said, "As the festive season begins, we would like to offer an opportunity to the thousands of prospective home buyers to buy the house that suits their requirements from the properties being displayed at the exhibition."
Mr. Harish Patel, Convenor Exhibitions adds, "Riding on the revival in the overall economy, real estate has recently seen demand is picking up in all the segments. We are very much confident that forthcoming mega real estate exhibition would serve the cause of bridging the gap between the potential buyers and the real estate developers by bringing them at the one platform".
Mr. Deepak Goradia, Co-convenor Exhibitions, said, "MCHI's property exhibitions have always reflected the market's true sentiment. Be it the mega shows or the budget shows, these exhibitions have become a convergence point for property seekers. This time too, we foresee a great potential as thousands of prospective home buyers are awakening to the prospect of investing in property to get the best returns".
Mr.Zubin Mehta, CEO MCHI said, "MCHI's Property Exhibitions has always gone innovative by providing a good platform for both Builders and home buyers, this year MCHI organized Online Property Expo in association with iProperty.com where all the Builder Participants will be showcased online and reach out to people who cannot come to Bandra Kurla Complex such as NRI's and other home buyers. Online Expo is available 24/7 from 1st October to 15th October 2009 at onlineexpo.mchi.net"
Partners:
Platinum Partner: ICICI Home Finance, LIC Housing Finance, Axis Bank.
Gold Partner: IDBI Bank
Silver Partner: HDFC Bank
Associate Partner: Times Property
Online Exhibition Partner: iProperty.com
About MCHI:
Maharashtra Chamber of Housing Industry (MCHI), formed in 1982 is the most prominent body of real estate builders and developers bringing together members dealing in real estate and construction industry on one common platform to address issues facing the industry. Members of MCHI account for providing 80 % - 90% of residential accommodation in Mumbai and its vicinity. MCHI helps both the Central and State governments in meeting their objectives of providing shelter. MCHI works towards raising awareness among the general public, real estate and construction industry while providing them with exhaustive information on projects and new developments in and around Mumbai. With over 400 well-recognized and reputed member builders, developers MCHI is affiliated with leading industry associations like FICCI, IMC and CREDAI.
CONTACT DETAILS
Pooja Pathak, iProperty.com, +91 (22) 4243 5555, pooja@iproperty.com
KEYWORDS
CONSUMER, MARKETING, CONSTRUCTION, REAL ESTATE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Maharashtra Chamber of Housing Industry (MCHI)
Saturday, October 03, 2009 12:31 PM IST (07:01 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Construction, Real estate
--------------------------------------------------
MCHI Property 2009 Got Overwhelming Response in First 2 Days
Mumbai, Maharashtra, India, Saturday, October 03, 2009 -- (Business Wire India) -- 'Property 2009' the country's biggest real estate expo presented by MCHI and SBI at MMRDA grounds at Bandra Kurla Complex in the first 2 days receives overwhelming response from home buyers.
Property 2009, India's only official and biggest real estate and housing finance exhibition organized bi-annually by the MCHI from last ten years, is a one-stop destination for the potential property buyers in Mumbai. It offers home buyers a wide range of properties both budget, High End and Commercial Properties along with a wide choice of Home Loan options.
As many as 75 real estate developers would be showcasing the properties located in Mumbai and the suburban areas, Thane, Navi Mumbai, Pune and other parts of India during the exhibition.
Prominent housing finance companies such as Leading Banks are participating in the exhibition, offering their best deals.
Mr. Pravin Doshi, President MCHI said, "As the festive season begins, we would like to offer an opportunity to the thousands of prospective home buyers to buy the house that suits their requirements from the properties being displayed at the exhibition."
Mr. Harish Patel, Convenor Exhibitions adds, "Riding on the revival in the overall economy, real estate has recently seen demand is picking up in all the segments. We are very much confident that forthcoming mega real estate exhibition would serve the cause of bridging the gap between the potential buyers and the real estate developers by bringing them at the one platform".
Mr. Deepak Goradia, Co-convenor Exhibitions, said, "MCHI's property exhibitions have always reflected the market's true sentiment. Be it the mega shows or the budget shows, these exhibitions have become a convergence point for property seekers. This time too, we foresee a great potential as thousands of prospective home buyers are awakening to the prospect of investing in property to get the best returns".
Mr.Zubin Mehta, CEO MCHI said, "MCHI's Property Exhibitions has always gone innovative by providing a good platform for both Builders and home buyers, this year MCHI organized Online Property Expo in association with iProperty.com where all the Builder Participants will be showcased online and reach out to people who cannot come to Bandra Kurla Complex such as NRI's and other home buyers. Online Expo is available 24/7 from 1st October to 15th October 2009 at onlineexpo.mchi.net"
Partners:
Platinum Partner: ICICI Home Finance, LIC Housing Finance, Axis Bank.
Gold Partner: IDBI Bank
Silver Partner: HDFC Bank
Associate Partner: Times Property
Online Exhibition Partner: iProperty.com
About MCHI:
Maharashtra Chamber of Housing Industry (MCHI), formed in 1982 is the most prominent body of real estate builders and developers bringing together members dealing in real estate and construction industry on one common platform to address issues facing the industry. Members of MCHI account for providing 80 % - 90% of residential accommodation in Mumbai and its vicinity. MCHI helps both the Central and State governments in meeting their objectives of providing shelter. MCHI works towards raising awareness among the general public, real estate and construction industry while providing them with exhaustive information on projects and new developments in and around Mumbai. With over 400 well-recognized and reputed member builders, developers MCHI is affiliated with leading industry associations like FICCI, IMC and CREDAI.
CONTACT DETAILS
Pooja Pathak, iProperty.com, +91 (22) 4243 5555, pooja@iproperty.com
KEYWORDS
CONSUMER, MARKETING, CONSTRUCTION, REAL ESTATE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Friday, October 2, 2009
BWI: Clean Technology Venture Investment Continued Recovering in 3Q09 Spurred By Economic Stimulus Investment
Press release from Business Wire India
Source: Cleantech Group
Friday, October 02, 2009 05:00 PM IST (11:30 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Information technology; Technology
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Clean Technology Venture Investment Continued Recovering in 3Q09 Spurred By Economic Stimulus Investment
Landmark IPO and New Funds also Signal Broadening Confidence in Clean Technology, Now the Leading Venture Investment Category
New Delhi, Delhi, India, Friday, October 02, 2009 -- (Business Wire India) -- The Cleantech GroupT, providers of leading global market research, events and advisory services for the clean technology (cleantech) ecosystem, along with Deloitte, which provides audit, tax, consulting and financial advisory services to cleantech companies, today released preliminary 3Q09 results for clean technology venture investments in North America, Europe, China and India totaling $1.59 billion across 134 companies.
Cleantech venture investment continued its recovery in the third quarter of 2009, after significant declines in 4Q08 and 1Q09 paralleling the global economic downturn. Following a rebound in 2Q09, the 3Q09 total is up a further 10 percent compared to the previous quarter, yet down 42 percent from the same period a year ago.
"The billions in government funding being allocated globally in clean technology have begun emboldening private capital, which has in turn helped propel clean technology to the leading venture investment sector, now eclipsing biotech and IT," said Dallas Kachan, Managing Director, Cleantech Group. "The two largest venture deals (Solyndra and Tesla Motors) and the largest IPO (A123Systems) this quarter were all recipients of U.S. government funding. Hundreds of millions of dollars in new venture funds this quarter are also evidence of investor confidence and momentum, including $1.1 billion in two new funds by Khosla Ventures alone."
"The extension of tax credits for renewable-based power generation along with government stimulus and regulatory requirements to meet renewable portfolio standards are helping to drive continued investment on the part of VCs and utilities into the cleantech sector," said Scott Smith, U.S. leader of Deloitte's Clean Tech practice. "Utilities are increasingly bringing their access to capital to the sector through direct investment and power purchase agreements, driving new projects and increased capacity. We continue to see utilities investing in wind and solar and expect this trend to continue as cleantech projects become more economically viable and desirable for utilities."
BY TECHNOLOGY SECTOR
The leading clean technology investment sector was solar, which rose from the previous quarter's 13 percent to 28 percent of venture investment, but still only received $451 million, down from a high of $1.2 billion invested in 3Q08. The second highest area of investment was transportation-sub sectors of which include vehicles, biofuels and advanced batteries- which received $383 million. Green buildings-including energy efficient buildings, glass and lighting subsectors-had a strong quarter, with investment of $110 million. The largest transactions in each technology sector were:
-- Solar - $451 million
Deals included: California-based thin film company Solyndra, which raised $198 million from a group of investors led by Argonaut Private Equity; California-based SolFocus, a developer of concentrating PV systems, which closed its Series C fundraising on $77.6 million from investors including Apex Venture Partners, New Enterprise Associates, NGEN, Yellowstone Capital, Demeter Partners, and affiliates of Advanced Equities; and California-based SunRun, a residential power purchase agreement (PPA) provider, which raised $18 million from Accel Partners and Foundation Capital.
-- Transportation (including Vehicles, Advanced Batteries & Biofuels) - $383 million
Deals included: Tesla Motors, the California-based electric car manufacturer, which raised $82.5 million in funding from a group of investors led by London-based Fjord Capital Management; Think Global, the Norwegian electric car manufacturer, which officially announced a $46 million round; and Amyris Biotechnologies, the California-based developer of a synthetic platform to create renewable fuels and chemicals, which secured $24.8 million as part of an ongoing $62 million Series C funding round.
-- Green Buildings (including Energy Efficient Buildings, Glass & Lighting) - $110 million
Deals included: Serious Materials, the California-based developer of a range of green building materials, which raised $60 million in Series C funding from Mesirow Financial, Enertech Capital, Cheyenne Partners, Saints Capital, as well as existing investors; and iControl Networks the California-based developer of broadband home management systems for controlling energy usage, which raised $23 million in Series C funding from Tyco International's ADT Security Services, Cisco, Comcast Interactive Capital, GE Security, and existing venture capital backers.
M&As AND IPOs
Clean technology M&A dropped in 3Q09 from the previous quarter, totaling an estimated 98 deals, of which totals were disclosed for $5.9 billion.
In the leading cleantech IPO of the quarter, and one of the most significant cleantech exits to date, A123Systems made its long awaited debut on the NASDAQ Global Market, in which the company raised $380 million at a company valuation of $1.3 billion (which rose to $1.9 billion by the close of day one trading). Other clean technology IPOs recorded in 3Q09 were wind farm developer Indian Energy, which began trading on London's AIM, raising $16.2 million, and India-based Euro Multivision, which raised $13.5 million on the Bombay Stock Exchange for the company's photovoltaic solar cell manufacturing unit.
BY GEOGRAPHY
North America continued to attract the largest percentage of clean technology venture capital, with Europe and Israel in 3Q09 in second place at 29 percent.
-- NORTH AMERICA: North America accounted for 67 percent of the total, raising USD $1.1 billion in 73 disclosed rounds, up 8 percent from 2Q09 and down 42 percent from 3Q08. As the most significant region for VC investment, the sector trends broadly match those described globally. The region accounted for the four largest venture deals (Solyndra, Tesla Motors, SolFocus and Serious Materials) as well as the largest IPO (A123 Systems). California led the way, with $655 million (61 percent total share) in investment, followed by Colorado ($47 million, 4 percent).
-- EUROPE AND ISRAEL: Europe and Israel received 29 percent of the total, raising USD $457 million in 53 disclosed rounds, up 61 percent from 2Q09 yet down 42 percent from 3Q08. Energy generation ($246 million, 21 deals) received the most investment, followed by vehicles ($51 million, three deals). The largest deal was Norwegian electric car maker Think Global, which emerged from bankruptcy and announced a $47 million round, part of which had been announced in Q209. There were also large deals for Irish bio-energy company Imperative Energy, which raised $43 million, and UK-based fuel cell company Intelligent Energy, which raised $30 million. The UK led with $125 million in 17 deals, with France in second position with $72 million in 10 deals.
-- CHINA: China received 3 percent of the total VC investment, raising USD $41.8 million in three clean technology VC deals: Nobao Renewable Energy attracted USD $25 million from Tsing Capital to develop geothermal heating and cooling technology; Nanjing City Control Information Technology raised USD $14.6 million to develop smart transportation control systems; and thin film solar and building integrated photovoltaic company Wuhan Rixin Technology attracted USD $2.2 million. Four private equity deals were tracked, totaling USD $886 million. Three M&A deals were tracked totaling more than USD $146 million. Two of the deals involved solar companies and one involved waste to energy companies.
-- INDIA: Indian cleantech companies raised USD $21.5 million in five investment rounds (of which one deal amount was not disclosed). The amount invested in 3Q09 was significantly lower than the previous quarter (USD $134 million) and 3Q08 (USD $185 million). Five M&A deals were tracked with a total value of USD $142 million (of which two deals amount were not disclosed). Energy generation attracted most interest and in particular the wind sector. Companies involved in M&A deals this quarter were Schneider Electric India, Techno Electric & Engineering, Chloride Group, Luminous Power Technologies and IDFC Private Equity. Mumbai-based Euro Multivision had an IPO in September in to raise capital and consolidate its solar photovoltaic manufacturing unit in Gujarat. Chennai-based industrial water solution provider VA Tech Wabag announced plans to raise USD $100 million via an IPO next year.
Key takeaways reviewed in webinar next week
The Cleantech Group and Deloitte will review key findings of their 3Q09 data in a live webinar on October 6, 2009 at 11AM EST / 8AM PST / 16:00 GMT, exclusively for members of the Cleantech Group's Cleantech Network. Network members may join the live meeting at http://cleantech.acrobat.com/research/ a few minutes before the event, and will need their email address and Cleantech Network password to log in. Members unsure of their passwords can contact Cleantech Group at +1 810-224-4310 x.7151 or can retrieve their password at http://cleantech.com/memberpassword.cfm.
This press release is not a research report and nothing herein is intended to be nor should be construed as investment advice. Neither Cleantech Group, LLC nor Deloitte recommends that any financial product should be bought, sold or held by any individual or entity, and nothing in this press release should be construed as an offer, or the solicitation of an offer, to buy or sell securities by Cleantech Group, LLC or Deloitte. Investors should not make any investment decision without consulting a fully qualified financial adviser.
About the Cleantech Group, LLC
The Cleantech Group pioneered the clean technology investment category in 2002. Today, it accelerates the development and market adoption of clean technologies globally. The company's worldwide network of investors, entrepreneurs, enterprises, service providers and others-representing trillions of dollars in assets-receives access to capital, investment deal flow, networking, market leading research and data, sales leads and promotional opportunities. The Cleantech Group also provides advisory services for large corporations and governments, publishes leading cleantech sector industry news coverage and produces the premier Cleantech Forum® events worldwide. Details are available at http://www.cleantech.com.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
To view the press release with table, please click on the link mentioned below:
Press Release
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http://www.BusinessWireIndia.com/attachments/3Q09 Press ReleaseFINAL (2).doc
3Q09 Press ReleaseFINAL (2).doc
CONTACT DETAILS
Pragati Varshney, Digiqom Solutions, +91 9811128790, +91 (11) 45351010/1004, pragati.digiqom@gmail.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, IT, TECHNOLOGY
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Source: Cleantech Group
Friday, October 02, 2009 05:00 PM IST (11:30 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Information technology; Technology
--------------------------------------------------
Clean Technology Venture Investment Continued Recovering in 3Q09 Spurred By Economic Stimulus Investment
Landmark IPO and New Funds also Signal Broadening Confidence in Clean Technology, Now the Leading Venture Investment Category
New Delhi, Delhi, India, Friday, October 02, 2009 -- (Business Wire India) -- The Cleantech GroupT, providers of leading global market research, events and advisory services for the clean technology (cleantech) ecosystem, along with Deloitte, which provides audit, tax, consulting and financial advisory services to cleantech companies, today released preliminary 3Q09 results for clean technology venture investments in North America, Europe, China and India totaling $1.59 billion across 134 companies.
Cleantech venture investment continued its recovery in the third quarter of 2009, after significant declines in 4Q08 and 1Q09 paralleling the global economic downturn. Following a rebound in 2Q09, the 3Q09 total is up a further 10 percent compared to the previous quarter, yet down 42 percent from the same period a year ago.
"The billions in government funding being allocated globally in clean technology have begun emboldening private capital, which has in turn helped propel clean technology to the leading venture investment sector, now eclipsing biotech and IT," said Dallas Kachan, Managing Director, Cleantech Group. "The two largest venture deals (Solyndra and Tesla Motors) and the largest IPO (A123Systems) this quarter were all recipients of U.S. government funding. Hundreds of millions of dollars in new venture funds this quarter are also evidence of investor confidence and momentum, including $1.1 billion in two new funds by Khosla Ventures alone."
"The extension of tax credits for renewable-based power generation along with government stimulus and regulatory requirements to meet renewable portfolio standards are helping to drive continued investment on the part of VCs and utilities into the cleantech sector," said Scott Smith, U.S. leader of Deloitte's Clean Tech practice. "Utilities are increasingly bringing their access to capital to the sector through direct investment and power purchase agreements, driving new projects and increased capacity. We continue to see utilities investing in wind and solar and expect this trend to continue as cleantech projects become more economically viable and desirable for utilities."
BY TECHNOLOGY SECTOR
The leading clean technology investment sector was solar, which rose from the previous quarter's 13 percent to 28 percent of venture investment, but still only received $451 million, down from a high of $1.2 billion invested in 3Q08. The second highest area of investment was transportation-sub sectors of which include vehicles, biofuels and advanced batteries- which received $383 million. Green buildings-including energy efficient buildings, glass and lighting subsectors-had a strong quarter, with investment of $110 million. The largest transactions in each technology sector were:
-- Solar - $451 million
Deals included: California-based thin film company Solyndra, which raised $198 million from a group of investors led by Argonaut Private Equity; California-based SolFocus, a developer of concentrating PV systems, which closed its Series C fundraising on $77.6 million from investors including Apex Venture Partners, New Enterprise Associates, NGEN, Yellowstone Capital, Demeter Partners, and affiliates of Advanced Equities; and California-based SunRun, a residential power purchase agreement (PPA) provider, which raised $18 million from Accel Partners and Foundation Capital.
-- Transportation (including Vehicles, Advanced Batteries & Biofuels) - $383 million
Deals included: Tesla Motors, the California-based electric car manufacturer, which raised $82.5 million in funding from a group of investors led by London-based Fjord Capital Management; Think Global, the Norwegian electric car manufacturer, which officially announced a $46 million round; and Amyris Biotechnologies, the California-based developer of a synthetic platform to create renewable fuels and chemicals, which secured $24.8 million as part of an ongoing $62 million Series C funding round.
-- Green Buildings (including Energy Efficient Buildings, Glass & Lighting) - $110 million
Deals included: Serious Materials, the California-based developer of a range of green building materials, which raised $60 million in Series C funding from Mesirow Financial, Enertech Capital, Cheyenne Partners, Saints Capital, as well as existing investors; and iControl Networks the California-based developer of broadband home management systems for controlling energy usage, which raised $23 million in Series C funding from Tyco International's ADT Security Services, Cisco, Comcast Interactive Capital, GE Security, and existing venture capital backers.
M&As AND IPOs
Clean technology M&A dropped in 3Q09 from the previous quarter, totaling an estimated 98 deals, of which totals were disclosed for $5.9 billion.
In the leading cleantech IPO of the quarter, and one of the most significant cleantech exits to date, A123Systems made its long awaited debut on the NASDAQ Global Market, in which the company raised $380 million at a company valuation of $1.3 billion (which rose to $1.9 billion by the close of day one trading). Other clean technology IPOs recorded in 3Q09 were wind farm developer Indian Energy, which began trading on London's AIM, raising $16.2 million, and India-based Euro Multivision, which raised $13.5 million on the Bombay Stock Exchange for the company's photovoltaic solar cell manufacturing unit.
BY GEOGRAPHY
North America continued to attract the largest percentage of clean technology venture capital, with Europe and Israel in 3Q09 in second place at 29 percent.
-- NORTH AMERICA: North America accounted for 67 percent of the total, raising USD $1.1 billion in 73 disclosed rounds, up 8 percent from 2Q09 and down 42 percent from 3Q08. As the most significant region for VC investment, the sector trends broadly match those described globally. The region accounted for the four largest venture deals (Solyndra, Tesla Motors, SolFocus and Serious Materials) as well as the largest IPO (A123 Systems). California led the way, with $655 million (61 percent total share) in investment, followed by Colorado ($47 million, 4 percent).
-- EUROPE AND ISRAEL: Europe and Israel received 29 percent of the total, raising USD $457 million in 53 disclosed rounds, up 61 percent from 2Q09 yet down 42 percent from 3Q08. Energy generation ($246 million, 21 deals) received the most investment, followed by vehicles ($51 million, three deals). The largest deal was Norwegian electric car maker Think Global, which emerged from bankruptcy and announced a $47 million round, part of which had been announced in Q209. There were also large deals for Irish bio-energy company Imperative Energy, which raised $43 million, and UK-based fuel cell company Intelligent Energy, which raised $30 million. The UK led with $125 million in 17 deals, with France in second position with $72 million in 10 deals.
-- CHINA: China received 3 percent of the total VC investment, raising USD $41.8 million in three clean technology VC deals: Nobao Renewable Energy attracted USD $25 million from Tsing Capital to develop geothermal heating and cooling technology; Nanjing City Control Information Technology raised USD $14.6 million to develop smart transportation control systems; and thin film solar and building integrated photovoltaic company Wuhan Rixin Technology attracted USD $2.2 million. Four private equity deals were tracked, totaling USD $886 million. Three M&A deals were tracked totaling more than USD $146 million. Two of the deals involved solar companies and one involved waste to energy companies.
-- INDIA: Indian cleantech companies raised USD $21.5 million in five investment rounds (of which one deal amount was not disclosed). The amount invested in 3Q09 was significantly lower than the previous quarter (USD $134 million) and 3Q08 (USD $185 million). Five M&A deals were tracked with a total value of USD $142 million (of which two deals amount were not disclosed). Energy generation attracted most interest and in particular the wind sector. Companies involved in M&A deals this quarter were Schneider Electric India, Techno Electric & Engineering, Chloride Group, Luminous Power Technologies and IDFC Private Equity. Mumbai-based Euro Multivision had an IPO in September in to raise capital and consolidate its solar photovoltaic manufacturing unit in Gujarat. Chennai-based industrial water solution provider VA Tech Wabag announced plans to raise USD $100 million via an IPO next year.
Key takeaways reviewed in webinar next week
The Cleantech Group and Deloitte will review key findings of their 3Q09 data in a live webinar on October 6, 2009 at 11AM EST / 8AM PST / 16:00 GMT, exclusively for members of the Cleantech Group's Cleantech Network. Network members may join the live meeting at http://cleantech.acrobat.com/research/ a few minutes before the event, and will need their email address and Cleantech Network password to log in. Members unsure of their passwords can contact Cleantech Group at +1 810-224-4310 x.7151 or can retrieve their password at http://cleantech.com/memberpassword.cfm.
This press release is not a research report and nothing herein is intended to be nor should be construed as investment advice. Neither Cleantech Group, LLC nor Deloitte recommends that any financial product should be bought, sold or held by any individual or entity, and nothing in this press release should be construed as an offer, or the solicitation of an offer, to buy or sell securities by Cleantech Group, LLC or Deloitte. Investors should not make any investment decision without consulting a fully qualified financial adviser.
About the Cleantech Group, LLC
The Cleantech Group pioneered the clean technology investment category in 2002. Today, it accelerates the development and market adoption of clean technologies globally. The company's worldwide network of investors, entrepreneurs, enterprises, service providers and others-representing trillions of dollars in assets-receives access to capital, investment deal flow, networking, market leading research and data, sales leads and promotional opportunities. The Cleantech Group also provides advisory services for large corporations and governments, publishes leading cleantech sector industry news coverage and produces the premier Cleantech Forum® events worldwide. Details are available at http://www.cleantech.com.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
To view the press release with table, please click on the link mentioned below:
Press Release
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/3Q09 Press ReleaseFINAL (2).doc
3Q09 Press ReleaseFINAL (2).doc
CONTACT DETAILS
Pragati Varshney, Digiqom Solutions, +91 9811128790, +91 (11) 45351010/1004, pragati.digiqom@gmail.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, IT, TECHNOLOGY
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BWI: Better Photography’s Annual Contest Goes Online with Canvera.com
Press release from Business Wire India
Source: Canvera Digital Technologies Private Limited
Friday, October 02, 2009 04:14 PM IST (10:44 AM GMT)
Editors: General: Entertainment, Fashion; Business: Advertising, PR & marketing, Information technology, Media & entertainment, Publishing & printing; Technology
--------------------------------------------------
Better Photography's Annual Contest Goes Online with Canvera.com
New Delhi, Delhi, India, Friday, October 02, 2009 -- (Business Wire India) -- Canvera.com, India's fastest growing online photography company has been chosen to be the online partner for the fifth edition of the Better Photography Photographer of the 2009 Awards. Published by Infomedia18 Ltd, Better Photography has been the leading photography magazine in India and South Asia for over twelve years now. The contest has been conducted successfully for four years now and has seen zealous participation from photographers across the country.
Considering the increase of internet penetration in India, the use of an online medium was a natural extension of the contest. In addition to sending physical copies of photographs, entrants can upload their entries at www.canvera.com/betterphotography. Participants need to go through a simple online registration process and depending upon their interest and eligibility, they can decide to upload their entries in one of many categories!
Once registered, participants can login any number of times before the last date to upload photographs till their maximum image limits are exhausted. The contest is open to citizens of India (including Non Resident Indians) and winners will be selected by a panel of judges appointed by Better Photography.
"We are very excited about being the online partner for this contest. Our relationship with Better Photography goes back to the foundation days of Canvera and this alliance has further strengthened our partnership," said Dr. Dhiraj Kacker CEO & Co-Founder of Canvera. K Madhavan Pillai, editor of Better Photography said "Canvera has world-class technology expertise in this domain and it was an easy choice to allow them to become the online face of the contest. With the increased use of internet in India we hope to reach a much wider audience this year with this initiative."
Rules, regulations and other information about the contest can be found online at www.canvera.com/betterphotography
ABOUT CANVERA
Canvera is India's fastest growing online digital photography company. Canvera's main client base consists of professional photographers who use Canvera's award winning photobooks for everything from weddings and birthday parties to corporate events and model portfolios. Canvera has serviced the needs of professional photographers in more than 200 cities and towns across the India. Canvera won the Asia Pacific and Japan wide Best Photobook award two years in a row at HP Digital Print Awards 2008 & 2009. The company is setting new standards for the photography industry by being the first branded player in what has so far been a highly fragmented market. As a branded player, Canvera stands behind the quality of its products and has also therefore implicitly made a commitment to ongoing innovation. Started in late 2007 Canvera is headquartered out of Bangalore and was founded by Dr. Dhiraj Kacker (CEO) and Peeyush Rai (CTO) who have previously worked at numerous successful startups in Silicon Valley. Canvera is financially backed by Footprint Ventures (www.footprintventures.com), DFJ (www.dfj.com) and Mumbai Angels (www.mumbaiangels.com)
ABOUT BETTER PHOTOGRAPHY
Better Photography has been the leading photography magazine in India and South Asia for over twelve years now. It is published by Infomedia18 Ltd, one of India's best publishing houses. The magazine's primary audience includes serious enthusiasts and amateurs and covers a wide variety of content. Basic and advanced level techniques, reviews of latest cameras and photography gadgets along with interviews with the most reputed photographers from around the world forms the core of the content of Better Photography. As a hobbyist magazine, the priority is education in the art and science of photography.
ABOUT INFOMEDIA18 LIMITED
Informedia18 [BSE: 509069; NSE: INFOMEDIA], the printing and publishing arm of Network18 is one of the leading publishers of business publications in the country. Its stable includes a number of leading publications like Overdrive, Chip, Better Photography, Better Interiors and AV Max. Apart from these, it also publishes a large number of business to business publications and Yellow Pages. Infomedia18 is also the India partner of Alibaba.com, the world's largest business to business trading platform.
CONTACT DETAILS
Ankur Talwar, Goodword Media Serives Pvt. Ltd., +91 9811804811, +91 (11) 40600913, ankur.goodword@gmail.com
KEYWORDS
ENTERTAINMENT, FASHION, MARKETING, IT, MEDIA, PUBLISHING, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Canvera Digital Technologies Private Limited
Friday, October 02, 2009 04:14 PM IST (10:44 AM GMT)
Editors: General: Entertainment, Fashion; Business: Advertising, PR & marketing, Information technology, Media & entertainment, Publishing & printing; Technology
--------------------------------------------------
Better Photography's Annual Contest Goes Online with Canvera.com
New Delhi, Delhi, India, Friday, October 02, 2009 -- (Business Wire India) -- Canvera.com, India's fastest growing online photography company has been chosen to be the online partner for the fifth edition of the Better Photography Photographer of the 2009 Awards. Published by Infomedia18 Ltd, Better Photography has been the leading photography magazine in India and South Asia for over twelve years now. The contest has been conducted successfully for four years now and has seen zealous participation from photographers across the country.
Considering the increase of internet penetration in India, the use of an online medium was a natural extension of the contest. In addition to sending physical copies of photographs, entrants can upload their entries at www.canvera.com/betterphotography. Participants need to go through a simple online registration process and depending upon their interest and eligibility, they can decide to upload their entries in one of many categories!
Once registered, participants can login any number of times before the last date to upload photographs till their maximum image limits are exhausted. The contest is open to citizens of India (including Non Resident Indians) and winners will be selected by a panel of judges appointed by Better Photography.
"We are very excited about being the online partner for this contest. Our relationship with Better Photography goes back to the foundation days of Canvera and this alliance has further strengthened our partnership," said Dr. Dhiraj Kacker CEO & Co-Founder of Canvera. K Madhavan Pillai, editor of Better Photography said "Canvera has world-class technology expertise in this domain and it was an easy choice to allow them to become the online face of the contest. With the increased use of internet in India we hope to reach a much wider audience this year with this initiative."
Rules, regulations and other information about the contest can be found online at www.canvera.com/betterphotography
ABOUT CANVERA
Canvera is India's fastest growing online digital photography company. Canvera's main client base consists of professional photographers who use Canvera's award winning photobooks for everything from weddings and birthday parties to corporate events and model portfolios. Canvera has serviced the needs of professional photographers in more than 200 cities and towns across the India. Canvera won the Asia Pacific and Japan wide Best Photobook award two years in a row at HP Digital Print Awards 2008 & 2009. The company is setting new standards for the photography industry by being the first branded player in what has so far been a highly fragmented market. As a branded player, Canvera stands behind the quality of its products and has also therefore implicitly made a commitment to ongoing innovation. Started in late 2007 Canvera is headquartered out of Bangalore and was founded by Dr. Dhiraj Kacker (CEO) and Peeyush Rai (CTO) who have previously worked at numerous successful startups in Silicon Valley. Canvera is financially backed by Footprint Ventures (www.footprintventures.com), DFJ (www.dfj.com) and Mumbai Angels (www.mumbaiangels.com)
ABOUT BETTER PHOTOGRAPHY
Better Photography has been the leading photography magazine in India and South Asia for over twelve years now. It is published by Infomedia18 Ltd, one of India's best publishing houses. The magazine's primary audience includes serious enthusiasts and amateurs and covers a wide variety of content. Basic and advanced level techniques, reviews of latest cameras and photography gadgets along with interviews with the most reputed photographers from around the world forms the core of the content of Better Photography. As a hobbyist magazine, the priority is education in the art and science of photography.
ABOUT INFOMEDIA18 LIMITED
Informedia18 [BSE: 509069; NSE: INFOMEDIA], the printing and publishing arm of Network18 is one of the leading publishers of business publications in the country. Its stable includes a number of leading publications like Overdrive, Chip, Better Photography, Better Interiors and AV Max. Apart from these, it also publishes a large number of business to business publications and Yellow Pages. Infomedia18 is also the India partner of Alibaba.com, the world's largest business to business trading platform.
CONTACT DETAILS
Ankur Talwar, Goodword Media Serives Pvt. Ltd., +91 9811804811, +91 (11) 40600913, ankur.goodword@gmail.com
KEYWORDS
ENTERTAINMENT, FASHION, MARKETING, IT, MEDIA, PUBLISHING, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Thursday, October 1, 2009
BWI: New Media’s Magazine for Mumbai Police, “THE PROTECTOR” Launched
Press release from Business Wire India
Source: NEW MEDIA
Thursday, October 01, 2009 09:36 PM IST (04:06 PM GMT)
Editors: General: Entertainment, Law & justice; Business: Defence & security, Media & entertainment, Publishing & printing
--------------------------------------------------
New Media's Magazine for Mumbai Police, "THE PROTECTOR" Launched
Mumbai, Maharashtra, India, Thursday, October 01, 2009 -- (Business Wire India) -- A bi-monthly magazine, titled THE PROTECTOR, brought out exclusively for the Mumbai Police, was launched here on Thursday by a publishing house in a major initiative to help connect the cops with the public.
The magazine, published by New Media in association with the Mumbai Police, is first of its kind in India and is aimed at presenting the law enforcing authorities in a right perspective.
"Major changes are taking place in terms of modernization of equipment used by the Mumbai Police and the techniques of training to prepare it to face any challenge. The emphasis is on improving overall security and pro-active confidence-building measures," said Additional Chief Secretary Home, Chandra Iyengar, while launching the magazine.
In his address Commissioner of Police D. Sivanandhan said: "The objective of the Mumbai Police is to protect and serve the community. It is our motto. THE PROTECTOR reflects this commitment and the values that the police force stands for."
This magazine is a major initiative of Mumbai Police in confidence building measures with the public.
The 100-page full-colour publication carries a detailed write-up on the 26/11 terrorist attack on the city and the on-going trial of the lone surviving terrorist Ajmal Kasab and articles on police preparedness in thwarting similar threats.
In an interview in the maiden issue, Sivanandhan points out that his first priority is to tackle terrorism and be prepared to meet any eventuality. "The organized crime is under control. My priority today is to get prepared for any terrorist attack," he asserts.
The magazine, which derives its title from the Mumbai Police motto "Sadrakshanaaya Khalnighrahanaaya", meaning "To protect the good and to punish the evil," carries a special section on the history of Bombay Police and its connection with the freedom movement.
"Our intention is to make every issue of THE PROTECTOR a collectors' number, informative as well as educative," said New Media's Managing Editor Satya Swaroop.
"Our aim is to project the Mumbai Police in a right perspective and to act as an effective means of communication between the police and the public," said Swaroop, adding, "Although the content for the magazine is provided by the Mumbai Police, the onus of responsibility for its presentation lies with New Media."
The other highlights of the magazine include enlightening interviews of Sadanand Date and Vinay Kargaonkar, both Additional Commissioners of Police.
Date, who confronted two heavily armed terrorists on the night of 26/11 at the Cama and Albless Hospitals and withstood their grenade attacks recalls: "It was the most challenging night and I just did my duty. On 26/11, our principal weapon in the fight was courage, which was displayed by the rank and file as well as the leadership. That weapon is with us, in addition to other weapons."
In a separate interview, Kargaonkar talks about the various initiatives the Mumbai Police have taken so far. "The response to the initiatives 'Alert Mumbaikar and 'Jagrut Mumbaikar' has been very encouraging," he says. 'Jagrut Mumbaikar' has covered more than 100 housing societies in order to sensitize the public about the constantly looming threat perception," Kargaonkar adds.
The magazine carries a write-up on the Mumbai Police as a brand icon of Bollywood, whose scriptwriters are forever inspired by the cop stories and the stars who love to get into the khaki uniforms. There is a unique 'Down Memory Lane' journey.
"First of all I like the name of your Magazine THE PROTECTOR," says legendary actor Dilip Kumar, explaining why. "I have met and known quite a few senior IPS officers. I found them to be strong, fearless and duty conscious when one turned to them for assistance. I have always regarded them as protectors and brave men."
The magazine carries a unique photo feature on the 150 years of police history. This includes a write-up on the Bombay Police and the freedom movement, and how they arrested Mahatma Gandhi and other great leaders such as Jawaharlal Nehru.
Another highlight is the profile of Kiran Bedi, India's first woman IPS officer, who rose to be the Police Advisor to the United Nations. A prison reformer, Bedi has won many prestigious awards, including the Ramon Magsaysay Award.
There is a feature on cyber crime, which is fast spreading, thanks to the power of the Internet and its easy access to educated criminals. In the wellness section the magazine offers a write-up on building a winning mind, which is very essential for law enforcement personnel. A case study tells how technology has helped in preventing recurrence of crime among young offenders.
A report on the 8th anniversary of the 9/11 terrorist attack on the World Trade twin towers in New York and another on an emergency drill that took place in New York recently bring back the memories of the incident. In this context, the magazine also highlights an important study on the economy of terrorism, the cost involved in carrying out operations and the deadly returns on that investment.
A write-up from the Bank of Maharashtra throws light on the issue of terror financing. A report on IFSEC India gives details of an upcoming global event on security, scheduled to be held in New Delhi from 29 to 31 October, 2009, where a conference on counter terrorism will be a highlight.
"We trust the maiden issue of THE PROTECTOR enlightens the readers as much as it helps them connect with the cops," said New Media's Satya Swaroop.
About New Media:
New Media is India's largest bilateral trade magazine publishing house based in Mumbai. Its magazines, of which three are published in association with the Export Import Bank of India, and others supported by various consulates and chambers of commerce, cover India's trade with as many as 125 countries across six continents.
Please click on the link mentioned below to view the picture:
Cover Page
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cover_Page (NXPowerLite).jpg
Cover_Page (NXPowerLite).jpg
CONTACT DETAILS
Vinay Kargaonkar, Additional Commissioner of Police, +91-22-2261 1569, vkargaonkar@yahoo.com
Satya Swaroop, New Media, +98200 31016, satya@newmediacomm.biz
KEYWORDS
ENTERTAINMENT, LAW, DEFENCE, MEDIA, PUBLISHING
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: NEW MEDIA
Thursday, October 01, 2009 09:36 PM IST (04:06 PM GMT)
Editors: General: Entertainment, Law & justice; Business: Defence & security, Media & entertainment, Publishing & printing
--------------------------------------------------
New Media's Magazine for Mumbai Police, "THE PROTECTOR" Launched
Mumbai, Maharashtra, India, Thursday, October 01, 2009 -- (Business Wire India) -- A bi-monthly magazine, titled THE PROTECTOR, brought out exclusively for the Mumbai Police, was launched here on Thursday by a publishing house in a major initiative to help connect the cops with the public.
The magazine, published by New Media in association with the Mumbai Police, is first of its kind in India and is aimed at presenting the law enforcing authorities in a right perspective.
"Major changes are taking place in terms of modernization of equipment used by the Mumbai Police and the techniques of training to prepare it to face any challenge. The emphasis is on improving overall security and pro-active confidence-building measures," said Additional Chief Secretary Home, Chandra Iyengar, while launching the magazine.
In his address Commissioner of Police D. Sivanandhan said: "The objective of the Mumbai Police is to protect and serve the community. It is our motto. THE PROTECTOR reflects this commitment and the values that the police force stands for."
This magazine is a major initiative of Mumbai Police in confidence building measures with the public.
The 100-page full-colour publication carries a detailed write-up on the 26/11 terrorist attack on the city and the on-going trial of the lone surviving terrorist Ajmal Kasab and articles on police preparedness in thwarting similar threats.
In an interview in the maiden issue, Sivanandhan points out that his first priority is to tackle terrorism and be prepared to meet any eventuality. "The organized crime is under control. My priority today is to get prepared for any terrorist attack," he asserts.
The magazine, which derives its title from the Mumbai Police motto "Sadrakshanaaya Khalnighrahanaaya", meaning "To protect the good and to punish the evil," carries a special section on the history of Bombay Police and its connection with the freedom movement.
"Our intention is to make every issue of THE PROTECTOR a collectors' number, informative as well as educative," said New Media's Managing Editor Satya Swaroop.
"Our aim is to project the Mumbai Police in a right perspective and to act as an effective means of communication between the police and the public," said Swaroop, adding, "Although the content for the magazine is provided by the Mumbai Police, the onus of responsibility for its presentation lies with New Media."
The other highlights of the magazine include enlightening interviews of Sadanand Date and Vinay Kargaonkar, both Additional Commissioners of Police.
Date, who confronted two heavily armed terrorists on the night of 26/11 at the Cama and Albless Hospitals and withstood their grenade attacks recalls: "It was the most challenging night and I just did my duty. On 26/11, our principal weapon in the fight was courage, which was displayed by the rank and file as well as the leadership. That weapon is with us, in addition to other weapons."
In a separate interview, Kargaonkar talks about the various initiatives the Mumbai Police have taken so far. "The response to the initiatives 'Alert Mumbaikar and 'Jagrut Mumbaikar' has been very encouraging," he says. 'Jagrut Mumbaikar' has covered more than 100 housing societies in order to sensitize the public about the constantly looming threat perception," Kargaonkar adds.
The magazine carries a write-up on the Mumbai Police as a brand icon of Bollywood, whose scriptwriters are forever inspired by the cop stories and the stars who love to get into the khaki uniforms. There is a unique 'Down Memory Lane' journey.
"First of all I like the name of your Magazine THE PROTECTOR," says legendary actor Dilip Kumar, explaining why. "I have met and known quite a few senior IPS officers. I found them to be strong, fearless and duty conscious when one turned to them for assistance. I have always regarded them as protectors and brave men."
The magazine carries a unique photo feature on the 150 years of police history. This includes a write-up on the Bombay Police and the freedom movement, and how they arrested Mahatma Gandhi and other great leaders such as Jawaharlal Nehru.
Another highlight is the profile of Kiran Bedi, India's first woman IPS officer, who rose to be the Police Advisor to the United Nations. A prison reformer, Bedi has won many prestigious awards, including the Ramon Magsaysay Award.
There is a feature on cyber crime, which is fast spreading, thanks to the power of the Internet and its easy access to educated criminals. In the wellness section the magazine offers a write-up on building a winning mind, which is very essential for law enforcement personnel. A case study tells how technology has helped in preventing recurrence of crime among young offenders.
A report on the 8th anniversary of the 9/11 terrorist attack on the World Trade twin towers in New York and another on an emergency drill that took place in New York recently bring back the memories of the incident. In this context, the magazine also highlights an important study on the economy of terrorism, the cost involved in carrying out operations and the deadly returns on that investment.
A write-up from the Bank of Maharashtra throws light on the issue of terror financing. A report on IFSEC India gives details of an upcoming global event on security, scheduled to be held in New Delhi from 29 to 31 October, 2009, where a conference on counter terrorism will be a highlight.
"We trust the maiden issue of THE PROTECTOR enlightens the readers as much as it helps them connect with the cops," said New Media's Satya Swaroop.
About New Media:
New Media is India's largest bilateral trade magazine publishing house based in Mumbai. Its magazines, of which three are published in association with the Export Import Bank of India, and others supported by various consulates and chambers of commerce, cover India's trade with as many as 125 countries across six continents.
Please click on the link mentioned below to view the picture:
Cover Page
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cover_Page (NXPowerLite).jpg
Cover_Page (NXPowerLite).jpg
CONTACT DETAILS
Vinay Kargaonkar, Additional Commissioner of Police, +91-22-2261 1569, vkargaonkar@yahoo.com
Satya Swaroop, New Media, +98200 31016, satya@newmediacomm.biz
KEYWORDS
ENTERTAINMENT, LAW, DEFENCE, MEDIA, PUBLISHING
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
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