Tata Coffee on Friday appointed Sanjiv Sarin as managing director and chief executive officer CEO of the company for a period of three years.
Mr Sarin is currently working as CEO designate and will replace Hameed Huq, currently managing director of the company. Mr Haq will retire on March 31.
“The Board of Directors at their meeting dated March 27, 2015 has appointed Sanjiv Sarin, the present ‘CEO Designate’ as Managing Director & CEO of the company for a period of three years with effect from April 25, 2015,” Tata Coffee said in a filing to the BSE.
In December last year, the company’s board had approved the appointment of Sanjiv Sarin as CEO designate with effect from January 8 this year.
Mr Sarin has also held the position of regional president-South Asia of Tata Global Beverages from the past four years.
During his tenure, he has significantly strengthened Tata Global Beverages’ position in the country’s branded tea market. He has over 38 years of experience in a variety of significant roles.
Tata Coffee is a subsidiary of Tata Global Beverages and it produces more than 10,000 tonnes of shade-grown Arabica and Robusta coffees at its 19 estates in South India.
Its two Instant Coffee manufacturing facilities have a combined installed capacity of 8,400 tonnes.
source: http://www.profit.ndtv.com / NDTV Profit / Home> Corporates / by Press Trust of India / March 27th, 2015
Company says it filed confidential prospectus for share sale on Wall Street.
Strauss Coffee accounts for about half the group’s total sales. Photo by Bloomberg
A long-awaited initial public offering on Wall Street of Strauss Coffee, a multinational joint venture controlled by Israel’s Strauss Group and the Texas-based private equity fund TPG Capital, is finally moving forward, Strauss Group said on Monday.
Strauss, a maker of snacks, fresh foods and coffee, said it had submitted a draft confidential prospectus to the U.S. Securities and Exchange Commission. “There is no certainty that the IPO will indeed be finalized, and if it is, on which date,” Strauss said in a statement. There were no other details.
Shares of Strauss Group closed up 5.6% at 61.90 shekels ($15.61) on the Tel Aviv Stock Exchange on Monday.
The IPO comes seven years after TPG bought a 25% stake in Strauss Coffee for $293 million. Although Strauss Coffee grew through acquisitions to become the world’s fifth largest maker of ground and roasted coffee and No. 4 in instant coffee, the partnership has been stormy.
Strauss and TPG went to court after the U.S. fund sought to block Strauss’ ouster of Todd Morgan, the joint venture’s CEO and a former TPG employee. It lost the fight and Morgan was ousted early last year. The two also squabbled over fees that Strauss was charging the joint venture and disagreements over failed deals.
On Monday, Strauss Coffee reported 2014 net profit had fallen 13.6% to 265 million shekels ($66.756 million) as sales declined 3% to 3.8 billion shekels. The company paid out a huge dividend of 175 million shekels for the year, apparently in anticipation of the IPO.
A string of acquisitions and partnerships transformed Strauss Coffee into the No. 1 coffee seller in Brazil and the fourth-largest in the global retail coffee market and a market leader in Russia and in Central and Eastern European countries. In 2014, it accounted for almost half of Strauss Group’s total sales.
Nevertheless, Strauss Coffee didn’t develop as the two sides hoped it would when TPG bought its stake in 2008. That was just as world financial markets seized up and the world slipped into a deep recession, bringing merger and acquisition deals to a near halt.
Three years ago, TPG and Strauss tried to sell the coffee company’s Russian and Eastern European businesses in order to buy out TPG’s stake with the proceeds. After abortive talks with India’s Tata Coffee and Master Blenders, TPG urged an IPO.
That set off a dispute that ended up in court, along with the dispute over Morgan. Strauss contended that TPG sought to inflate Strauss Coffee’s value while TPG accused Strauss of deflating its value in order to block any chance of an IPO and buy out the private equity fund cheaply. The court dismissed TPG’s allegations.
Nevertheless, an IPO would enable TPG to reduce, if not divest, its Strauss Coffee stake. But The Wall Street Journal report a year ago said TPG valued its Strauss Coffee holding at just 10% more than it paid after holding it for nearly six years.
Meanwhile, Strauss Group, Israel’s second-largest food and beverage maker, reported Monday that it earned an adjusted 84 million shekels in the fourth quarter, up from 70 million shekels a year earlier, thanks to currency hedging transactions as well as lower tax expenses.
Sales edged up 0.3% to 2.08 billion shekels. Excluding the impact of changes in exchange rates, sales grew 2.8%. Coffee sales rose 2.4% to 1.03 billion shekels, led by a 4.8% increase in overseas coffee sales. Excluding currency effects, total coffee sales grew 9.4%.
source: http://www.haaretz.com / Haaretz / Home> Business> Israel News / by The Marker – March 24th, 2015
Madikeri CMC presented Rs 4.78 crore surplus budget for the year 2015-16 here on Monday. The CMC was expecting income of Rs 71.15 crore and the expenditure of Rs 66.36 crore. The budget was presented in a meeting by CMC President Julekabi.
The budget has given priority for laying of roads rather than mitigating the drinking water woes. The budget has given priority to construction of roads, drains and retaining wall.
About 23.60 crore (32 per cent) of the income of the CMC has been earmarked for the purpose. Water and related works including removing silt from Kootuhole reservoir have been given Rs 6.94 crore (less than 10 per cent).
The budget has earmarked Rs 15.70 lakh for constructing sand bunds at Kundamestri. A sum of Rs 1.94 crore has been earmarked for removing silt at Kootuhole, the main water source to the town. The budget did not mention on Betri project. Though the government has given nod for the implementation of Betri water project, the budget did not earmark funds to implement the project.
A sum of Rs 4.99 crore for private bus stand, Rs five lakh for development of parks, Rs 2.50 lakh for the construction and repair of toilets, Rs 10 lakh for the renovation of burial grounds, Rs 1.42 crore for the welfare of SC/ST and OBC have been earmarked in the budget.
The CMC is expecting income of Rs two crore from property tax, Rs 6.50 lakh from advertisements, Rs one crore as rent from commercial buildings, Rs one crore from trade licenses, Rs 8.50 lakh from parking, Rs 70 lakh from water bills, Rs two crore from Chief Minister’s Small and Medium Town Development fund and a special grant of Rs 32 crore.
The expenditure of the CMC include Rs 2.88 crore for salary, Rs 65 lakh for maintenance of streetlights, Rs 95 lakh for solid waste management, Rs 50 lakh for construction of bridge and others. When SDPI and BJP members demanded time to discuss on budget, the President said that a special meeting will be convened on March 31 to discuss the budget.
Members said that Kannandabane, Pampinakerem Roshanara, Putaninagara and Mahadevapete is facing acute shortage of water. The CMC should initiate measures to supply water through tankers. Tender should be invited to supply water to the residents.
CMC Commissioner Pushpavathi said that the issue of shortage of water has been brought to the notice of the Deputy Commissioner.
The DC is yet to give nod for inviting tender for supplying water. Member H M Nandakumar and K S Ramesh said that there is a need to impress upon the DC to give nod for inviting the tender.
source: http://www.deccanherald.com / Deccan Herald / Home> District / DHNS – Madikeri, March 24th, 2015
Model-turned-actress Shubra Aiyappa who appears in Tollywood and Kollywood films, is now set to knock the doors of Sandalwood. If reports are to be believed, the beautiful girl has apparently been roped in to play a cameo role in choreographer-turned-filmmaker A Harsha’s Vajrakaaya.
Source: malligadu.com
The filmmaker says, “This is a very special appearance, where she will be seen in the first 15 minutes of the film. The song, sung by Dhanush, will be picturized on her and Shivarajkumar. Shubra is one of the most dignified artistes I’ve worked with till date. It has been a pleasure.” Shubra adds, “I’ve enjoyed shooting for the film so far. It has been very exciting. We will be headed to Venice to shoot for the song this month end.”
Goodbye, proxy attendance. Mangalore University will soon introduce biometric attendance system with facial recognition for students and teaching and non-teaching staff in four of its campuses.
This follows a directive from the Karnataka government. Postgraduate campuses at Mangalagangothri and Chikkaluvara, and two constituent colleges in Mangaluru and Kodagu will start the new system for teaching and non-teaching staff in the next two months. Students will be included from the next academic year.
Some 32 of 37 Government First-Grade Colleges in Udupi, Dakshina Kannada and Kodagu districts have already installed the biometric system. Chairing the fourth general meeting of the university’s academic council here on Tuesday, vice-chancellor K Byrappa said the government has taken this step to combat the unhealthy practice of colleges condoning attendance shortage by asking students to pay hefty fees.
From now on, colleges must ensure students have a minimum 75% attendance and have no powers to condone shortage, Byrappa said. BA Patil, joint director of collegiate education, said the new attendance system has been installed in his office too. Efforts were on to supply such systems for the remaining five colleges.
“We’ve ordered the system for the Government First-Grade College at Vittal and one system installed in Virajpet is under repair,” Patil said. The university will install these systems from its funds, Byrappa said, adding the constituent and private colleges will have to do so out of their funds.
Incidentally, private universities already have this system for their staff and students to ensure authentic record of attendance of all stakeholders and to avoid students’ complaints that the records were tampered with.
Following a directive from state government, Mangalore University will soon introduce biometric attendance system with facial recognition for students and teaching and non-teaching staff in four of its campuses
Postgraduate campuses at Mangalagangothri and Chikkaluvara, and two constituent colleges in Mangaluru and Kodagu will start the new system in the next two months. Students will be included from the next academic year .
source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Mangaluru / TNN / March 25th, 2015
Mundachadira Gangu Deviah, Founder-Director of Deviah Memorial Preparatory School, Bittangala, Kodagu, passed away at the age of 80 on Feb.4, 2015. Here is a tribute to the great soul who started the boarding school at a time when there were no residential schools in Kodagu. Now read on…
Mrs. M.G. Deviah, the founder of Deviah Memorial Preparatory School in Bittangala, Kodagu, worked tirelessly for 35 years to make the school what it is today.
In 1981, at a time when there were no residential schools in Coorg, she made a bold and unprecedented decision to start a preparatory boarding school in memory of her husband. Children from the age of 4 were nurtured and prepared till the age of 11 to enter any school in India.
She was the pioneer of boarding school education for young children in Coorg, an inspiration to people who went on to start boarding schools. This was her service to Coorg.
Hundreds of children have passed through the portals of her school. She instilled in them values and ideals, courtesy, etiquette and respect. The children from her school have gone on to become chefs, special educators, lawyers, doctors, designers, engineers, professors, horticulturists, home-makers and planters. They all share a special bond with the school. Mrs. Deviah’s efforts were rewarded with the love and success of the children.
The school is committed to upholding her values and providing children with quality care and a good foundation at a highly affordable price.
We at Deviah Memorial Preparatory School deeply mourn her loss.
[Courtesy: Coffeeland News]
source: http://www.starofmysore.com / The Star of Mysore / Home> Feature Articles / March 22nd, 2015
‘Walk of hope’ led by spiritual leader Mumthaz Ali popularly known as Sri M, will enter Karnataka through Bhagamandala on March 9.
The Walk of Hope will be held in Bhagamandal, Cherambane, Madikeri, Hoskote and Kushalnagar from March 9 to 14. Manav Ektha Mission National Coordinator G Balaji Kashyap said that the walk has been organised to spread the message of peace, equality, simplicity and unity.
The ‘Walk of hope -2015’ was flagged off by Manav Ektha Mission, a subsidiary of Sathsang Prathishthan, from Kanyaklumari on January 12. The walk will go on for 15 months, traversing through a number of villages, cities and states, to cover a distance of 6,500 kms, till Kashmir, he said.
Sri M will speak at a programme to be held at Kashi mutt of Bhagamandal on March 9 at 4 pm. Bhagamandala- Talacauvery temple Chief priest T S Narayanachar, Virajpet St Annamma Church Parish priest Arogya Swamy, Ponnampet Sri Ramakrishna Sharadashram President Swami Bodhaswaroopanandaji, Ahmadi Association President Wasim Ahmed, MLC M C Nanaiah, sportsperson and educationist Dr Pushpa Kuttanna, Talacauvery – Bhagamandala temple President Manu Muttappa, Ornithologist Dr S V Narasimhan and others will take part.
The formal programme will be held at Cauvery Kalakshetra in Madikeri on March 12 at 11.30 am.
Arameri Kalancheri mutt pontiff Shanthamallikarjuna Swamiji, Air Marshal K C Cariappa, Bharathiya Vidya Bhavan district President K S Devaiah, Madikeri Shanthi Church Parish priest Sudhir Anand, Madikeri taluk Kannada Sahitya Parishat President S I Munir Ahmed will be present.
Music programme
Akash Chopra of Mumbai will perform at a music programme at 12.30 pm. The winners of district level Ekatha essay competition will be given away the prizes. A lecture will be delivered by Sri M at Bharathiya Vidya Bhavan auditorium at 6 pm.
The walk which will start on March 13 morning from Madikeri will progress through Suntikoppa, Kodagarahalli Sri Baithurappa Povvadi Temple and will rest at Elane Hosakote. Sri M will conduct a Satsang programme at St Sebastian Church.
Sri Ganesha Temple administration committee and Muslim Jamaat Masjid administrative committee members will take part along with the heads of other religious shrines.
The walk will reach Kushalnagar on March 14 morning and a Satsang programme will be held at Kannika International Hotel. Prior, a arathi will be offered to River Cauveri near Sri Ayyappa Temple, Kushalnagar.
Manav Ektha Mission member K P Uttappa, Ramesh Holla, K K Dinesh Kumar and others were present.
source: http://www.deccanherald.com / Deccan Herald / Home> District / DHNS / Madikeri , March 02nd, 2015
Supermodel-turned-actress Shubra Aiyappa is all set to enter Sandalwood finally. The Bengaluru girl, who is already working in Telugu and Tamil films, will be seen in a special role in choreographer-turned-director A Harsha’s Vajrakaaya.
The director says, “This is a very special appearance, where she will be seen in the first 15 minutes of the film. The song, sung by Dhanush, will be picturized on her and Shivarajkumar.
Shubra is one of the most dignified artistes I’ve worked with till date.
It has been a pleasure.” Shubra says, “I’ve enjoyed shooting for the film so far. It has been very exciting.
We will be headed to Venice to shoot for the song this month end.”
source: http://www.timesofindia.indiatimes.com / The Times of India / Home> Entertainment> Kannada> Movies / by Sunayana Suresh, TNN / March 20th, 2015
CMC President Zulekabi, CMC Commissioner B B Pushpavathi and CMC Assistant Executive Engineer K M Ravikumar inspected the re-asphaltation work of the Rajaseat road from Mangerira Muttanna circle to Kundurumotte temple in Madikeri on Thursday. Zulekabi meanwhile sought the cooperation of public for various road and drainage works in different parts of the city.
She warned that the illegal constructions in the city will be cleared. She told people to leave space for road and drainage works, before constructing houses.
CMC Commissioner B B Pushpavathi said that the reasphaltation and widening of the Raja seat road is being taken up at a cost of Rs 10 lakh, under the second stage of Nagarottana project.
CMC Assistant Executive Engineer K M Ravikumar said that the tender process towards the UGD connections in the city is over and the work will be started next year.
He further said that the reasphaltation is under progress at Gowlibeedi, Masjid road, Ranipet and Bhagavathi Nagar. Also construction of concrete drains is being carried out at the road from Vijaya Vinayaka Temple to College road, widening and reasphaltation from junior college gate to district stadium and Gowda Samaja to Chian gate.
source: http://www.deccanherald.com / Deccan Herald / Home> District / Madikeri , DHNS – March 20th, 2015
Baba Motion Pictures pvt ltd launches their second poster of the movie “Direct Ishq” where Television chocolate hero Arjun Bijlani making his debut in the movie. Bollywood’s glamour has been a perpetual source of magnetic charm for most television actors. While we have TV stars making big in Bollywood likes Shah Rukh Khan, Ayushmann Khurana, Sushant Singh Rajpoot, Vidya Balan, Yami Gautam, Pulkit Samrat, Prachi Desai and Aditya Roy Kapoor. Array of televison stars making their Bollywood debut, from the world of TV up for their film debut. Now Arjun Bijlani after winning hearts with his romantic lover-boy image earlier in television he is all set to hit the 70 mm screen.
In the poster Actor Arjun Bijlani seen romancing with Actress Nidhi Subbaiah in the “Guns and Roses” avatar. The poster shows action as well as the naughtyness component hidden inside the characters. The second poster displays Arjun and Nidhi riding on a hefty bike, with a gun in Nidhi’s hand from where rose is coming out and flaunting a full on bhai style look. Arjun is looks cute in this with a casual T-shirts and jeans and had an quirky smile on his face, while Nidhi is looking as gorgeous and sexy in her cool top and skimmed jeans.
“Direct Ishq” which is produced by Pradeep k sharma and Directed by Rajiv S Ruia starring Rajneesh Duggal, Nidhi Subbaiah and others. This poster talks the tagline as “A Desi Love Story” called Direct Ishq.
source:http://www.nagpurtoday.in / Nagpur Today / Home> Filmi Baatein / Thursday – March 19th, 2015
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