BUSINESSGOA
50
Goa’s Only Business Magazine
real estate
special focus
www.businessgoa.in
PANAJI GOA VOL 5 ISSUE 6
DECEMBER 2013
18
making merry at christmas 12
Businesses in Goa go in overdrive mode during Christmas. The mood is palpably festive. We take a sneak peak at these December revellers
Prashant Shinde interview
28
Pastry Cottage GOAN BRAND
32
IFFI Finale GOA buzz
62
News Views Articles Interviews Profiles Focus Analysis Opinions Events Features
Contents
December 2013
32 Goan Brand 38 Professional Dossier 40 Lady Power
12
Pastry Cottage has been serving up tasty treats in Panjim since 1994
Ashutosh Kharangate and Rohit Pinto on how Mangal Advisory Services took flight
41
Dr. Rachna Fernandes on her journey as a dentist which led to the opening of her own clinic, The Smile Factory
12 Cover Story
41 Felicitations
Businesses in Goa go in overdrive mode during Christmas. The mood is palpably festive
Sr. Advocate Atmaram N S Nadkarni recently celebrated his 50th birthday. A look at his distinguished career
18 Real Estate
60 Bon Appétit
Goa’s only business magazine looks at some interesting Real Estate proposition
Enjoy a big fat Greek lunch only at Thalassa
24 Starting Young
32
Lucio and Ajay talk about the inspiration behind starting a Bible inspiration app as well as other apps for social use
26 Enterprise 28 Interview
Computronics has been a pioneer in InfoTech infrastructure and all around technical support
60
Prashant Shinde, President of Verna Industrial Estate Association discusses the challenges faced by industries
30 Industry
Onkar Industries has successfuly developed and manufactured their own brand of pipes for electrical wiring, Duraflex
COLUMNS 42
Blaise Costabir writes about the hassles faced by him in obtaining a loan from a reputed bank
44
24
46 26
06 Editorial 08 Corpo Scan 34 Events of the Month 36 Campus 36Book Shelf 36 BG Crossword 52 HR Mantra 54 What’s Up Goa 62 Goa Buzz 66 Newsmakers 66 BG Quiz 04 Business Goa
DECEMBER 2013
48
50
42 Reluctant Entrepreneur 44 Legal Eagle 46 Letter from America 48 Good Company 50 People Tree Raunaq Rao talks about the changes affected by the amendment of the Indian Stamp Act
Jay Dehejia writes about traditional and modern Thanksgiving celebrations in America
Swatee Rane talks about the procedure involved in listing an MSME on the Stock Exchanges
Kishore Shah on incompetence in organisations and how they can change it
BUSINESSGOA
50
Goa’s Only Business Magazine
REAL ESTATE
SPECIAL FOCUS
www.businessgoa.in
PANAJI GOA VOL 5 ISSUE 6
DECEMBER 2013
EDITORIAL
hbhatkuly@gmail.com
18
MAKING MERRY AT CHRISTMAS 12
Businesses in Goa go in overdrive mode during Christmas. The mood is palpably festive. We take a sneak peak at these December revellers
Prashant Shinde INTERVIEW
28
Pastry Cottage GOAN BRAND
IFFI Finale GOA BUZZ
32
62
It’s the season...
News Views Articles Interviews Profiles Focus Analysis Opinions Events Features
VOL 5 | ISSUE 6 | DECEMBER 2013
Editor & Publisher Harshvardhan Bhatkuly Co-Publisher & Group Head Urvija Bhatkuly
When you utter the word ‘season’ in Goa, more
of International Centre Goa, she has personally
often than not people are talking about December.
nurtured GALF and raised Goa’s image as a
Yes, December is the one month when people
literary centre when most people know Goa for
rake in the moolah – albeit, if they run the
the EDM kind of events.
‘seasonal’ business. Many restaurants, shacks
Advisory Board Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Swapnil Kamat
and now lounges are launched amidst great
is showman extraordinaire Roberto Alvares.
fanfare and hype. Just to wind up by mid-January.
Although I am a contemporary of his sons, I shared
Mistake not that these are businesses that have
a very close friendship with the man who was a
not gone bust. But that they are designed to fold in
pioneering event organizer in Goa. A man with
Team Alisha Patel Annalise Gouveia Ashok Kolvekar Govit Morajkar Mayur Santinezkar Monaliza Dias Pritesh Naik Sigmund D’Souza
a month’s time. Such is the power of December.
a hearty, infectious laugh, he was a meticulous
The price of everything goes through the
planner and organizer of the New Year’s Eve Ball.
roof in Goa come December. Try booking air-
I cut my teeth in the business of advertising by
travel online, why? Even buses literally quadruple
putting Roberto in his own ads. The ads and the
in December. Restaurants, especially in the
shows were a sellout. Roberto died young – in age
beach-belt area have waiting lines. The traffic
and in spirit, when he was just about looking at
in Candolim-Calangute and Baga drive at snail’s
another new year’s eve ball planning. That was a
pace. But Goa’s seasonal businesses will be doing
decade ago. I miss the Christmas lunch that I have
what else? Brisk business.
shared with him over a few years.
Contributors in this Issue Blaise Costabir Jay Dehejia Kishore Shah Swatee Rane Raunaq Rao Editorial, Advertising & Administrative Office SAVOIR FAIRE MEDIA Business Goa 101/5, Rua Thomas Ribeiro Fontainhas- Mala Panaji, 403001 Goa India Tel.: 0832-2425514, 6456555 Email: businessgoa.media@gmail.com Business Goa is a monthly magazine dedicated to trade, commerce and business features and news. Publisher & Printer: Harshvardhan Bhatkuly Printed At: Printek Printers, Bengaluru
Unsolicited material may not be returned. The opinions expressed in Business Goa are not necessarily that of the publishers. While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.
06 Business Goa
DECEMBER 2013
After all the hue and cry and accusations
Come December, the one person I miss sorely
Come December, I also miss Panjim’s go-to
and counter-accusations, the Tourism Minister
store for Christmas greeting cards – Damsan. The
has cleverly given the nod to all warring factions
eponymous store run by the enthusiastic Damodar
– Percept, Infomedia 18 and Micky Pacheco to
Sancoalcar was the place where the pre-social
go ahead and host their respective Electronic
media kids would flock to in time for Christmas.
Dance Music (EDM) festivals. Never mind that
The time spent in choosing the greetings and
the already chocoblocked traffic scene in North
affixing the stamps with heavy glue makes me
Goa will make traffic phobics like yours truly stay
feel that this December routine was so so long
in the safer confines of their homes.
ago. Perhaps it was. But then an email or an SMS
can never stand in for the joy you felt when you
December is also when one of Goa’s most
prolific literary event takes off. Goa Arts and
opened an envelope with a greeting card in it.
Literary Festival’s (Galf) fourth edition is all set
to bring the top literary minds to this sun-kissed
wish you a fantastic year ahead
Have a wonderful Christmas dear readers and
land of ours. Brainchild of Nandini Sahai, Director
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Panasonic launches its automatic range of Kitchen Appliances in Goa
corpo scan
Panasonic, have launched their Automatic range of Cooker Warmers, Jar Cookers and Mixer Grinders in Goa. A part of Panasonic’s initiative to bring world class technology to the Goan homemaker while keeping in mind very special requirements, these products are made for the demanding kitchens of Goa. Panasonic also has a range of small Appliances like Bowl Mixers, Hand Mixers, Oven Toasters, and Pop up Toasters, Coffee Maker, Meat Mincers, and Juicers & Food Processors
Coastal Honda gets ISO 9001 : 2008 Certification customers could expect standardization at all levels – pre sales, sales, after sales service and the spares division. The entire process has undergone a massive Manoj Caculo, Harish Borkar, Rajiv Singbal and Suraj Caculo evolution and now that the top management Coastal Honda, a division of has put in place the TQM, the Caculo Group has recently been clients can expect only the best,” conferred an ISO 9001 : 2008 said Manoj Caculo, Chairman and compliant certification by TNV. Managing Director of Coastal “The very fact that this Honda. certification has been awarded, “The ISO Certification will goes to further strengthen the help in continuous improvement customer bonding, wherein
Bosch launches new washers Car and home cleaning will no longer be a cumbersome exercise. Bosch Power Tools has launched its trendy new age home and car washer range as part of its do-ityourself category of products in India. With growing urbanization, do-it-yourself products have been gaining prominence. With the launch of the new home & car washer range, Bosch Power
Tools will reach every household as it is a must-own product. These washers can be used to clean mud, debris and rain gutters. The two more powerful models come with wheels for easy manoeuvrability and can be used effectively on uneven terrains. The home & car washers are ideal to clean floors, patios and help remove stubborn dirt in difficult – to – reach corners
and up-gradation of our systems which would now be faster and more effective, and thereby be of more help to customers,” Caculo claimed. Asked as to what the benefits would be, Caculo further stated the ongoing benefits of ISO 9001 certification would be consistent, repeatable processes and a common (protocol based) system. “All our vendors would know what our supply quality would be, and therefore prices would be maintained and will not depend on market vulnerability,” he added. “Besides, we will have more business, because we, having the ISO endorsement will distinguish us in the market
place. We will know more quickly if things are going wrong, and where, we can thus stop spending money or wasting time on the same old problems. Many problems will disappear because we will know how to prevent them, if they do come up, we will know how to fix them faster,” Caculo said. Apart from setting the goals, the management would be involved in procuring ground reports on real time basis, which would help not only in its regular management reviews by extracting data from D’Lite, the latest Software program from Honda, but would also help their customers as changes would come pro-actively
World Diabetes Day observed in Goa The team members of SMRC’s V. M. Salgaocar Hospital, Chicalim in association with Goa Chamber of Commerce and Industry and Verna Industries Association observed World Diabetes Day. In an effort to raise awareness of Diabetes, SMRC’s V.M. Salgaocar Hospital Chicalim Goa and the Goa Chamber along with the Verna Industries Association organised a free Diabetic Screening and Consultation camp for the employees of Industries in the Verna Industrial Estate. Nana Bandekar, President of GCCI welcomed the participants
and said that it is important that everyone in the workplace have accurate information about diabetes. Health Minister Laxmikant Parsekar, speaking as Chief Guest said that early detection and adopting a proper lifestyle can prevent complications related to diabetes. Around 100 employees of the Verna Industrial Estate registered and were screened for Blood sugars, HbA1c Levels, Diabetic Neuropathies etc. It was noticed that nearly one third of them were detected for the first time
Harley-Davidson dealership launched in Panaji
E-auction of excavated iron ore allowed in Goa
Harley-Davidson India opened it 12th dealership in Goa recently offering the entire range of products and services of the company. Srinivas Reddy, dealer principal, said that although the outlet in Caranzalem existed for some time, its official launch means that customers can now get their motorcycles serviced locally instead of making the trek to Mumbai or Bangalore. The new outlet offers genuine parts and accessories along with motor clothes apparel and collectibles for customers, he said.
Lifting a year-long embargo, the Supreme Court allowed e-auctioning of nearly 11.5 million tonnes of iron ore lying unused in Goa. The e-auctioning would be conducted under the supervision of a three-member committee which will have former bureaucrats UB Singh and S Naiumuddin as members. The third member will be an officer, not below the rank of a joint secretary. The Apex Court also ordered setting up of another six-member panel which would file its report by February 15, 2014, suggesting the annual
08 Business Goa
DECEMBER 2013
Harley-Davidson commenced operations in August 2009 and appointed its first dealership in July 2010. India is the second country where the company has CKD assembly operations after Brazil. Since the beginning of retail operations in domestic market there are 4,000 Harley-Davidson motorcycles on Indian roads. The Harley motorcycles start from a price range of Rs 5.91 lakh (ex-showroom) for the Superlow, Sportster model. The priciest model is Street Glide at Rs 29 lakh (ex-showroom)
cap on volume of iron ore to be extracted. The Court said that the amount collected from the e-auctioning shall be kept as fixed deposits and separate lease-wise accounts must also be maintained. Reading from its draft order, the bench of Justices A K Patnaik, S S Nijjar and F M Ibrahim Kalifulla, said the six- member panel will have one representative each from ministry of environment and forests and the department of mining besides an ecologist, a geologist, a mineralogist and an expert on forests
D’SOULe lounge opens
corpo scan
D’SOULe Lounge and Bar, promoted by actress Shruti Mehrota, was recently launched at Ashvem beach. The highlight of the opening night was a fashion show organized by uCherry Fashion Concepts. A fashion show was conducted with jewellery from ‘Fashion Rehab’ and clothes from ‘Altered Native’. On the music front, there was entertainment by Carlos Gonsalves and DJ Vijay Arora, a well renowned and popular DJ in Goa. The special guest DJ for the evening was DJ Avi from Delhi.
Delta Corp Ltd unveils new brand ‘Deltin’, launches new casino Deltin Royale Jaydev Mody
Delta Corp Ltd., India’s leading provider of Gaming and Hospitality services, has officially launched its umbrella brand Deltin along with its newest casino Deltin Royale in Goa. The move marks Chairman Jaydev
Mody’s vision of bringing all of Delta Corp’s casinos and hotels under a single brand – Deltin. The Deltin brand will cover the company’s casinos and hotels in Goa, as well as any new properties in the future. “Rebranding our properties is an opportunity for us to complement our continued growth and expansion as an organization, plus introduce a stronger brand identity which is more descriptive of our mission, products and services,” Mody said. “Our primary focus has always been on providing premium experiences as we
stand for luxury and glamour at each of our properties and the Deltin brand is an accurate reflection of that.” Deltin Royale is home to India’s largest and most exclusive poker scene at the ‘Royale Poker Room’. Besides, this, the casino will also feature a world-class mix of domestic and international artists as well as top local talent, making it the leading entertainment destination in Goa. The company also operates the 106-suite luxury hotel Deltin Suites in Nerul, Goa and the 27-suite boutique hotel Deltin Palms in Brittona, Goa
‘Soft Launch’ of new Terminal of Dabolim Airport Minister for Civil Aviation Ajit Singh said that the civil aviation and tourism sectors directly contribute 3.6 per cent to the national gross domestic product and therefore civil aviation industry has become a focal point of development as it is a key infrastructure that connects people, shrinks distances and facilitates the growth of business and seamless flow investment, leading to multiplier effect across the economy. He observed that with the phenomenal growth in air traffic, largely by the liberal policies
of the government, India has emerged as fastest growing aviation market in the world. Singh was addressing a large gathering after unveiling the plaque marking the ‘softlaunch’ of the state-of-the-art new integrated terminal building of Dabolim airport. Minister of State for Civil Aviation K C Venugopal, Governor of Goa Bharat Vir Wanchoo, Chief Minister of Goa Manohar Parrikar, Airport Advisory Committee Chairman Francisco Sardinha, Rajya Sabha MP Shantaram Naik,
All-India Congress Committee General-Secretary Digvijay Singh, Leader of the Opposition (Goa) Pratapsinh Rane, Dabolim MLA Mauvin Godinho, Airport Authority of India Chairman V P Agarwal, Secretary K N Srivastava, Flag Officer Commanding Goa naval area Rear Admiral B S Parhar, Airport Director M Suresh, Mormugao Municipal Council Chairperson Sumita Usgaonkar and others were present for the ceremony. “Though Goa is a small state it has an excellent economic growth,” Singh said
CMM Arena launches www.cmmarena.com Now Goa has its own online shopping address, www. cmmarena.com CMM Pvt. Ltd, Goa’s largest home and office retailer is geared up to make your online shopping experience better than ever, through its subsidiary company CMM Arena Retails Pvt Ltd. Shopping at CMM Arena Megastore Merces, the one stop shop for Home Furniture, Office Furniture, Electronics, Kitchenware, Home décor with a special touch of Christmas décor and much more is now just a click 10 Business Goa
DECEMBER 2013
away! www.cmmarena.com is an endeavour to reach out to all its customers at ease wherein they have the feeling of the entire Megastore with a click of the button from the comfort of their living rooms, choosing
from a whole range of products for their home and office. It makes deals simpler and easier investing in Savings in both time and money! Boasting an elegant layout, www. cmmarena.com offers some exciting deals. By signing up one could get Rs. 500 off on minimum purchase. The trendy and versatile home shopping store has a great lineup of home décor, beddings, bathroom accessories, crockery, dining essentials, housekeeping etc
Australian Consul General Visits GCCI Mark Pierce, Consul General of Australia in Mumbai called on Goa Chamber of Commerce and Industry and had discussions with Sandip Bhandare, Senior Vice President of the Chamber and Manguirish Pai Raiker, Immediate Past President on a wide range of subjects including water conservation and setting up of waste management facilities and setting up of marinas and adventure and hinterland tourism projects. The new Consul General was very keen on taking forward the plans with the Goa Chamber and Goa’s business houses
Odisha, Goa ink MoU for tourism promotion The Odisha Tourism Development Corporation (OTDC), recently signed a five-year memorandum of understanding with Goa Tourism Development Corporation to market tourism packages for each other, highlighting tourism potentials of both the states and mutual business promotion among other things, is looking at the prospects of inviting foreign tourists visiting Goa to experience the splendour of Odisha. The Director of Tourism, Government of Odisha and the OTDC Managing Director, M R Patnaik said that Odisha, which has thirty districts and three hundred and thirty six tourist destinations, boasts of a golden and a diamond triangle linked to tourism. “The golden triangle comprises tourist locations such as the capital city of Bhubaneshwar, Puri with the temple of Lord Jagannath and Konark having the famed Sun temple,” he informed, pointing out that the diamond triangle includes the three Buddhist sites of Ratnagiri, Udaygiri and Lalitgiri.” It was also informed that the sacred relic of the tooth of Buddha excavated from the famous Lalitgiri Buddhist site, has been kept at the state museum for public viewing
COVER STORY
making merry at christmas Businesses in Goa go in overdrive mode during Christmas. The mood is palpably festive. ALISHA PATEL takes a sneak peak at these December revellers
Raave spoils you for choice
I
t is that time of the year again. The streets are brightly lit, houses are bedecked and kitchens are filled with the aroma of freshly baked Christmas treats. Celebrated as both – a religious and cultural holiday, Christmas is one of the most awaited festivals on the 12 Business Goa
DECEMBER 2013
Goan calendar. Cashing in on this festival are businesses which not only pop up during the season but also introduce a slew of new products especially for the Christmas season, the most obvious of them being decorative items, sweets and food stuffs. “Our
sales triple during Christmas time because we sell speciality Goan sweets such as letri, gaus, neureos and marzipan fruits,” says Gretta Menezes of Confeitaria 31 de Janeiro in Fontainhas, Panaji. Also offering speciality items during this time of the year is Darlene Fernandes,
owner of popular stationary store Casa J.D. Fernandes. “Around twenty five years ago, I realized that people wanted Christmas items. Hence, I decided to start a Christmas decoration special at our stationery store. The first year itself, we had a huge turnout. The sale begins on November 15
The streets are brightly lit, houses are bedecked and kitchens are filled with the aroma of freshly baked Christmas treats. Celebrated as both – a religious and cultural holiday, Christmas is one of the most awaited festivals on the Goan calendar
and goes on till January.” she informs. Christmas is indeed a time for extravagance. With more and more people looking to outdo themselves every year. Making this possible, the epitome of Christmas businesses in Goa, Raave pops up faithfully every year in December. Providing customers with everything to set up your own winter wonderland right in the comforts of your home, Raave offers you with a multitude of options to pick from giving you the best in variety and quality. From optical fibre Christmas trees to standard and imported evergreen Christmas trees, Raave brings a wide collection to Goa. They are also well stocked with enticing ornaments like stockings, shiny bright coloured baubles, bells, gingerbread men, angels and everything one would need to brighten up the festival. No Christmas would be complete without the grand Christmas lunch or dinner. What used to be a simple meal with the family has now evolved into a mega event with the grandeur and number of dishes on the table. Making all of this possible is Magsons, a pioneer in retail food stuffs who besides various schemes and promos has ready-to-eat grilled to perfection chicken, turkey and pork dishes. ”We have people drooling over our stuffed roast chicken and roast turkey platters with a stuffing of their choice in either an Orange & Sage Sauce, a BBQ Sauce or a Cranberry Sauce. In addition to this, we also have Roasted Pork Leg in a Honey glazed, BBQ or Smoked flavour, slow roasted to retain all the juices and flavour,” informs Mishal Maganlal of the Magsons Group. Similarly, Gretta and her team at the Confeitaria 31 de Janeiro make sure customers enjoy
Footballer Beto at Magsons
Christmas contest at Magsons
a sweet Christmas with their speciality sweets such as letri, gaus, neureos and marzipan fruits. They also make Christmas hampers which include a choice between an option of red or white wine, bebinca, dos, pinagra and a Christmas cake. Most festive seasons bring with them a number of discounts, sales and offers and other techniques used by retailers to entice the already aware customer. While most customers look forward to a good bargain, many feel that Christmas in itself sells. “Our sales automatically triple during the Christmas season. We don’t have to market our products at all. Word of mouth has always been our biggest source of advertising
What used to be a simple meal with the family has now evolved into a mega event with the grandeur and number of dishes on the table. Magsons, a pioneer in retail food stuffs who besides various schemes and promos has ready-to-eat grilled to perfection chicken, turkey and pork dishes though. Inevitably we are always sold out sometimes even days before Christmas! Our Christmas hampers are also quite popular,” says Gretta. Corresponding with Gretta, Darlene too admits that apart from a few advertisements in local newspapers informing customers that new products are in stock, they too, have not invested in heavy marketing. “Right from the first year itself, the turnout has been good. Since then, we have grown bigger and
better every year. Apart from the general public looking to brighten up their homes, a lot of our clients are hotels and corporates. As a special measure, we offer discounts to those who buy decorations in bulk. ” she says. “Goa has an age old tradition of celebrating Christmas with sweets. I wanted to play my role in this tradition,” says Gayle D’Souza from Porvorim who under her label ‘The Little Chocolate Box’ has been serving up modern day Christmas sweets faithfully for the last two years. So what’s in The Little Chocolate Box, this year? Roasted Almond flavoured Irish, Hazel Crumb and Chocolate tart with candied hazelnuts, Vanilla Chantilly cream with a dusting of edible gold, red velvet cupcakes with a cream cheese frosting, walnut and cinnamon rolls and a tarte au citron garnished with pomegranate and mint leaves; that’s what’s in the Box. “The response has been great and it keeps getting better and better with each passing year, mostly through word of mouth and social media marketing,” says an ecstatic Gayle. Even though she has just been in the market for DECEMBER 2013
Business Goa 13
COVER STORY
Christmas decor at Casa J D Fernandes
The manufacturing facility at Verna
Around twenty five years ago, I realized that people wanted Christmas items. Hence, I decided to start a Christmas decoration special at our stationery store. The first year itself, we had a huge turnout. The sale begins on November 15 and goes on till early January Darlene Fernandes Casa J.D. Fernandes
two years, The Little Chocolate Box has already earned a reputation for the unique variety that the menu offers during Christmas time, as well as for its distinct flavours. What’s special about the Christmas menu at The Little Chocolate Box is that the menu is never the same as the previous years. “I love to experiment and put out new items every Christmas as it keeps my customers coming back year after year. It is also a representation of how far I’ve come since last Christmas and it usually draws in new customers, too. I do, however, tend to
repeat one or two items from the previous menu due to popular demand,” she says. Focusing more on direct customer sales, are fashion designers who at this time of the year are as busy as Santa’s elves. Designer Cherylyne Estibeiro, who apart from her own Christmas line also has specialized orders from women wanting to look their best this season. “Orders for Christmas started pouring in since the start of November and right now, the line that I have designed too, is selling fast,” she says. Despite the prices of raw materials shooting up, Cherylyne has resisted
Our sales triple during Christmas time because we sell speciality Goan sweets such as letri, gaus, neureos and marzipan fruits gretta menezes Confeitaria 31 de Janeiro
14 Business Goa
DECEMBER 2013
from increasing the price of her outfits as she feels this would be against the spirit of Christmas. “Christmas is the only time of the year where people are willing to splurge on that perfect dress as compared to the rest of the year. Our sales shoot up by sixty per cent at least during December, year on year,” she reveals. Agreeing with Cherylyne about Christmas being the season on the splurge, Mishal Maganlal states that the response
to their Chirstmas sales has always been overwhelming. “It is a very pleasant time of the year. With so many events happening across the State, people automatically get sucked into the festive groove. It is a time when people look back at all the hard work that they have put in throughout the year and offer themselves some space for indulgence,” he concludes with a smile
Pics: Brendon Sapeco
Cashing in on this festival are businesses which not only pop up during the season but also introduce a slew of new products especially for the Christmas season, the most obvious of them being decorative items, sweets and food stuffs
Cover Story
www.businessgoa.in
Live it up, this season
Image Courtesy: Grand Hyatt Goa
Goa Marriott Resort and Spa What a bright time, it’s the right time to rock the night away – at Goa Marriott Resort & Spa! This year, come experience the best of Christmas and New Year delights at this beautiful waterfront resort. Ring in the New Year with panache on December 31, at ‘The Beach’, a spectacularly exclusive Beach Soirée – Goa’s first and only! Let your hair down and delight in the exquisitely velvety feel of sand under your feet, as you groove to the spirited beats of DJs Ryan Nogar and Suleman. Savour a bountiful assortment of cuisines from across the world, from Grills to Curries, Kebabs to Biryani, Asian, European, Middle Eastern, Mediterranean and lots more, with interactive live stations for made-to-order fare. You can even go all out and luxe it up a notch, with your very own personal butler! If you’re staying at the resort, you can wake up
the next morning to a leisurely brunch with your loved ones. The Goa Marriott Resort & Spa has a plethora of offerings for the entire holiday season as well. The beautiful waterfront caressing the property shall resonate in the form of a magnificent cruise boat, right in the lobby of the resort! Step inside this wondrous creation to rediscover sugar and spice, with myriad choices of the most scrumptious cakes, puddings, hampers and other goodies. The Cake Shop and AZ.U.R offer tantalizing festive indulgence, 16 Business Goa
DECEMBER 2013
with Christmas delights such as the Marzipan Stollen, Dundee Cake, Chocolate Yule Log, Date Pudding and even a lipsmacking Chocolate Santa or Snowman! Relish delectable Cinnamon Star Cookies and hand-rolled Chocolates amongst other treats! Also partake in magnificently merry meals as you wish everyone ‘Feliz Natal’ on 25th December, with a Grand Christmas Day Roast Turkey Brunch, followed by an equally splendid Christmas Dinner. Come and celebrate a very special Christmas and New Year with your dear ones, only at the Goa Marriott Resort & Spa! For reservations, please call 0832 – 2463333. Alila Diwa Goa At this joyous time of the year, Alila Diwa Goa invites your family and friends to join in the festivities. An authentic Christmas Eve celebration awaits you with
a traditional menu, an inviting dance floor and live music by Sky High belting out great tunes till midnight and beyond. Ring in the New Year with an exquisite food and beverage menu while music by Sky High, one of Goa’s leading bands and our resident DJ will ensure that you have a great start to the New Year. For reservations and more information, contact Alila Diwa Goa. Phone +91 832 2746800, diwagoa@alilahotels.com, www. alilahotels.com/diwagoa.
Take a look at the Christmas celebrations planned at Goa’s top notch hotels
Grand Hyatt Goa Located in one of India’s top resort destinations, on the calm, inviting waters of Bambolim Bay, is Grand Hyatt Goa Resort and Spa. Grand Hyatt Goa delivers on all expectations, and beyond, this festive season. A Christmas dinner to cherish Come, feel the love in the air as carol singers bring beautiful melodies alive. Executive Chef Shane O’Neill and his culinary brigade present the most splendid scrumptious buffet of Christmas favourites and of course, the much awaited irresistible desserts. The Grand brunch of Christmas joy Under the mild winter sun, as the spirit of Christmas Day fills your hearts, the Grand Hyatta Goa is planning to spoil you with a feast fit for kings and queens. Yes, they are laying out a grand buffet with extensive variety and a relentless spread of the finest desserts. Santa Claus is also coming to town to distribute gifts to the juniors. The kids’ club “Camp Hyatt” will keep your precious little ones entertained while you enjoy some much-needed time off. Merry. Jolly. Miraculous. How wonderful life is while you’re in the world Feel the magic of Moulin Rouge, bring out your
masquerade masks, fancy dresses and flamboyant make up – call your friends and book your space for a night when time will stand still and the skies come alive as spirits soar; live performers, exotic dancers and fireworks entertain and dazzle the night, the electrifying live band Rodney and his troop will get you on your feet followed by a DJ who will keep the party going all night long. Mystic. Grand. Memorable. The perfect brunch to start the year Slept early to start the year fresh or still pulsing with memories of a great New Years’ eve party the Grand Hyatt Goa has the perfect brunch for you. Enjoy a sparkling afternoon with an exquisite spread of over five courses of interactive live stations and desserts. Lavish. Bubbly. Legendary. For more details and reservations, call 0832 301 1234 or visit www.goa.grand.hyatt. com
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CD SIGNATURE AT GOGOL-MARGAO BY COMMONWEALTH DEVELOPERS PVT. LTD.
Commonwealth Developers Pvt. Ltd is one of Goa’s leading developers. They have so far completed more than twenty
five projects. In a day and age where builders do not enjoy the best of reputations, the Commonwealth Developers have earned respect and goodwill due to their trustworthiness, clean and transparent dealings. Among the list of prestigious projects recently completed by them is CD Monsoon Meadows located in the picturesque village of Majorda. The habitat has thirty seven independent villas with plush
finish and high end specifications. CD Monsoon Meadows has all the trappings of a luxury resort style housing retreat which is aesthetically designed with beautiful landscaped gardens, swimming pool, club house and open spaces for recreation. Their ongoing projects include CD Seasons, Fatorda and CD Signature Gogol-Margao. CD Seasons is an exclusive residential project comprising of
2 BHK and 3 BHK Apartments in the scenic suburb of Margao overlooking lush green fields. CD Signature is conveniently located in Gogol adjoining the Margao Curtorim road. It comprises of 2 /3/4BHK Apartments with large garden spaces, children’s play area, swimming pool, badminton court, round the clock alert security and basement parking. This is their signature offering For inquiries call 0832-2736846
MARINE VISTA AT CARANZALEM BY MODELS CONSTRUCTION PVT. LTD. Models Construction Pvt. Ltd. is part of the diversified Models Group of Companies with interests in Real Estate, Construction, Hospitality, Leisure and Sports. The Group is led by Peter Vaz, a well-respected and multifaceted businessman who has built the group brick by brick to make it one of the biggest and foremost real estate companies in Goa. Models Construction is
known to have an impeccable track record of delivering over 35 successful projects spread across over a million square feet and with timely possession to more than 5000 delighted customers. Models Construction Pvt Ltd currently has on offer a high-end sea-facing residential project – Marine Vistas – in Caranzalem. Living in Marine Vistas, you are surrounded by sun-filled spaces, blue seas and fresh air.
It is an experience to refresh the mind, body and soul, an ultimate value addition to urban lifestyle. Marine Vistas offers aesthetically designed sea-facing two and three bedroom super homes with large balconies equipped with all modern amenities and overlooking the Arabian sea; located on Marine Drive facing the beautiful Caranzalem Park and within close proximity to Goa’s best schools,
banking services, shopping and eating-out and lifestyle options For inquiries call 0832-2227688
MAYFLOWER ENCLAVE AT kadamba plateau BY sardesai group
General Construction and Infrastructure (GCI), is an
amalgamation of the various proprietary concerns of Ghanashyam Sardesai and is a part of the Sardesai Group having interests in Iron Ore Mining, Shipping Logistics, Real Estate Development, Medical Devices, Industrial Salt and Horticulture. The luxury offering of the Sardesai Group is Mayflower Enclave at Kadamba Plateau. Living at the Mayflower Enclave you can’t but stay fit. Classic state-
of-the-art gyms having an exotic view of the beautiful island gives you the additional adrenaline to hit the gym regularly. Surrounded by lush greenery and goodness of nature, you breathe nothing but freshness at Mayflower Enclave. A perfect place to spend your mornings to make your days perfect! Indulge into a lip smacking breakfast while your eyes feast on the fantastic sight of the beautiful Diwar Islands. The
habitat understands that morning is the time you want some peace, listen to the chirping of birds and feel the slight wind blowing. At Mayflower Enclave the calm environment prepares you for the day that comes ahead. Located just a few minutes away from Panaji, now live in an apartment with the space of a bungalow. It’s like living in a building with the facilities of a bungalow For inquiries call 0832-2220252
VISION LUXURIA AT assagao BY vision dempo group Vision Real Estate Developers is a construction and property development company specializing in building quality habitats. A real estate division of the much reputed Vishwasrao Dempo Group, the company has become synonymous with quality, reliability, value for money, and above all customer satisfaction. Whether you are seeking a luxury permanent home a vacation retreat or are seeking to invest, the 18 Business Goa DECEMBER 2013
Vision Dempo Group offers great options. Vision Dempo’s projects are non-polluting and environmental friendly. Vision Luxuria is an exclusive living zone of eight villas, a melange of contemporary styling and Portuguese architecture, located in the valley of flowers as the village of Assagao is known. There are six villas admeasuring 248.05 sq.m. (2669 sq.ft.) + 26.25 sq.m (282 sq.ft) open terrace and two villas admeasuring
192.20 sq.m. (2068 sq.ft) + 15.75 sq.m (204 sq.ft) open terrace. Independent drive in with parking for a vehicle and private sit out lawn in front. All villas face the landscaped garden and swimming pool. Vision Luxuria is located in a quiet and peaceful neighbourhood surrounded by greenery. It is in close proximity to educational institutions, hospitals and market of repute located in Mapusa barely 10 minutes drive away. Vision Luxuria… a holiday
home is also close to the famed beaches of North Goa For inquiries call 0832-2422234
www.cdhomes.com
A building has integrity, just like a person Ayn Rand, The Fountainhead We are pleased to announce shifting of our Corporate Office in CD FOUNTAINHEAD Opposite CD Countryside, Fatorda
SavoirFaire
Promoters of
New Millennium Bakers Manufacturing Franchisee of
Rich Bake Bakers Promoters of
Kashinath Damodar Naik CNF Agents of
H or t icult ure F ood P rocessing H ousing Logis t ic R e tail
HOT PROPERTIES VILA TRANQUILLE AT porvorim BY jai bhuvan builders
Jai Bhuvan Builders is a company which is known for trust and quality in developing real estate since 1975. Today the company has a presence in Mumbai,
Bengaluru and Goa. Jai Bhuvan Group has also forayed into education, hospitality and have now launched the fist exclusive shopping destination in Goa, aptly call Mall de Goa. Spearheaded by Sadanand Sheth, a visionary who saw the immense potential that the real estate business could provide in Goa; Dr. Shekar Sheth, Rajesh Sheth and Bhuvanish Sheth look after the expanding needs of the group with the same zeal
and vigour set by their father Sadanand Sheth. Vila Tranquile designed along the Zen philosophy, is a peace haven where you can be one with your inner self. Located in Porvorim, the project is nestled close to all urban amenities and in the lap of tranquillity and serenity. Amenities available include PoP and Gypsum finished walls, Jaquar-Artize and Rocca Bath fittings, fully fitted modular
kitchens, wooden flooring for master bedrooms, shower enclosures for all bathrooms, video door-phone, provision for barbecue on terrace, Fenesta UPVC windows, toughened glass balcony railing and many more. Also available are private swimming pool with wooden finish tiled deck, double height living room, separate servant quarters, landscaped gardens and an independent sump For inquiries call 0832-2410352
regalo AT siridao BY palacio In 2006 the Palacio Group set foot in Goa with a clear vision – to create homes for Goan families that are a unique blend of heritage and contemporary architecture. Homes that would offer modern day comforts and a lifestyle in harmony with the surroundings. Currently, Palacio has a basket of projects on offer. Glenwood Gardens, located on the banks of the Siridao River is
a self-contained, gated project with unique features. “Our first phase at Glenwood Gardens, ‘Golden Retreat’ is what made Palacio a household name in Goa and everybody took notice of brand Palacio,” explains Vinay Bhasin the energetic promoter of the brand. He further explains that Golden Retreat is a luxury retirement phase at Glenwood Gardens. Currently Palacio is marketing the third and signature
phase ‘Regalo’ which boasts of spacious riverfront living. Also up for grabs are premium residential plots at ‘Bonitto Val’ in the heart of Pilerne, a famous bird watching spot, which is located a few minutes’ drive from the famous Candolim Beach. The company has won numerous awards for quality and
perfection For inquiries call 0832-2437787
the HIGHLAND VILLAs AND the highland VISTAs AT porvorim BY highland constructions
The Highland Villas Every Goan one meets, successful and moving up in life,
finally wants a beautiful luxury villa in Goa on a piece of land he can call his own. Highland therefore decided to create this opportunity called The Highland Villas in Goa offering you a piece of this blest earth. This is a residential enclave that´s unique in its very concept of private, independent plots for holiday villas. Each plot having an elegant private villa. Come and experience the luxury of a
gracious house, a villa in Goa, without the trouble of having to build one yourself. The Highland Vistas You have been yearning for a home to call your own. A place where you can dream your dreams – small or big. A place where you love to go to at the end of the day. The Highland Vistas is a 2 Bedroom apartment complex that takes shape in the sylvan and verdant surroundings
of Porvorim. The Highland Vistas is well equipped with a club house, gym, swimming pool, individual elevators with power back-up for each block, reserved car park on stilt floor for each apartment, 24 hours water supply, satellite TV provision, 24 hours central security, entry and exit gates, play park and gated compound wall for the complex For inquiries call 9923412021
AKAR GARDENS, AT margao BY akar realty Akar Realty is one of the leading real estate developers in Goa, now spreading to Mumbai and other parts of western India. It was formerly known as Akar Creations, established in 1981 as the real estate arm of the Borkar Group, a diversified business conglomerate that has been occupying a place of pride in the Goan economy since 1910. Over the last 32 years, they have consistently been transforming the skyline of Goa, 20 Business Goa
DECEMBER 2013
with landmark residential and commercial projects in prime locations. The company has a number of firsts to its credit, like Pancharatna, South Goa’s first commercial complex; Nandanvan, the first row house project in Margao and Ram Nagari, the first and only affordable housing project by any private developer in Goa. Akar Realty has developed 29 major projects in Goa, with around 3500 satisfied customers,
with many more projects on the drawing board. In Mumbai, they launched their first project Akar Pinnacle with great success and are raring to go with 3 more projects scheduled to be launched this year and 6 others being in the pipeline. This is one company to look out for in the upcoming future with its strong fundamentals of business and people centric values that are an integral part of their legacy. Akar Gardens at
Aquem is their latest offering in Margao For inquiries call 9552597653
HOT PROPERTIES goldbeam residency AT st.cruz BY goldbeam developers
Amidst the natural beauty bestowed upon the scenic State of Goa by the almighty, lies the landmark project of Goldbeam Developers called Goldbeam
Residency. Living in the heart of paradise has never been so much comfortable. Chic apartments and well designed commercial spaces, all neatly demarcated to nature’s perfection. Goldbeam Developers is a young partnership company managed by Sameer Kakodkar, Rajesh Salgaonkar and Raghu Shetiye. These three young entrepreneurs wish to stamp their mark on the real estate landscape of Goa and present their maiden
offering Goldbeam Residency. This project is taking shape at St. Cruz near Panjim and offers 2BHK apartments, penthouse apartments and commercial spaces. The USP of Goldbeam Residency is it being located facing the verdant surroundings of St. Cruz’s famous green fields. Amenities available at these swanky apartments and well designed commercial spaces include Wi-Fi connectivity and a waste management plant.
Also available are 24 hours security, lift with 24 hours backup generators, stilt parking, landscaped gardens, children’s play area, gymnasium, walking tracks and much more. Goldbeam Residency, St. Cruz, offers you the convenience to the core. Shopping centres are in close vicinity, medical facilities only a kilometer from where you are and the capital city a mere 2.5 kilometers away For inquiries call 0832-6653214, 9373431111
MILROC kadamba AT kadamba plateau BY milroc development company Established in the year 1989, “Milroc Development Company LLP” is a well established name in the Construction and Real Estate Development Industry and has earned a reputation for uncompromising quality, expertise, reliability, speed, unparalleled services and value for money. Milroc Kadamba is conceptualized to be a premium residential apartment community. It is designed with understated
luxury in mind, spacious homes with contemporary facilities merged with eco-friendly living with the finesse of a modern lifestyle. Milroc Kadamba offers a wide variety of spacious two and three bedroom apartments. Large bay windows optimize cross ventilation and ensure maximum natural lighting in each home. Peaceful surroundings and proximity to the necessities of daily life enhance its value.
Amenities provided include ample parking designed for privacy, piped gas and light arresters, earthquake resistant structural design, 24x7 security, lifts to all floors, underground cabling and solar water heating, rainwater harvesting, sewage treatment plant and vermicomposting. Hence stressing on Milroc’s philosophy to strive to not just build better homes, but also build
better futures for generations to come For inquiries call 0832-2224708
IMMACULATE GARDENS AT bastora BY rainbow infra
Rainbow Infra’s latest offering is Immaculate Gardens at Bastora,
Bardez. Situated very close to North Goa’s commercial nerve centre, Mapusa and a fifteen minute drive from Panaji, Goa’s capital or the famed beaches – Calangute, Baga, Candolim – that North Goa is so famous for. Immaculate Gardens is also in close proximity to industrial estates and Mapusa’s central business district. On offer are twelve well designed apartments, seven
lavish villas and eight duplex villas. Immaculate Gardens is all set to be a new landmark that will spell quality living in the lap of nature. The hallmark of Immaculate Gardens, however, lies in the tranquil and serene surroundings that the project is taking shape at. With the best in specifications and amenities, coupled with quality construction, Immaculate Gardens is sure to be a great place to live at or invest
in. Amenities include, a resort style swimming pool, landscaped gardens, children play area, power backup, sewage treatment plant, internet WiFi connectivity, 24 hour security, video door phones and a club house with a gym. Rest assured, along with the quality of life, the asset value is also sure to appreciate at Immaculate Gardens For inquiries call 0832-6711111
prabhudesai realtors projects in margao, colva & navelim Pioneered by Partners Jagannath (Desh) Prabhudessai, Shashank Prabhudessai and newly entered second generation Arch. Ankit Jagannath Prabhudessai, “Prabhudessai Realtors” is a name firmly ensconced amid the values of excellence, quality, vision and cost-effectiveness. The compay assures their clients every bit of honesty, sincerity and promise of truth in all deals and deeds. value-for-money kind
22 Business Goa
DECEMBER 2013
of business. As you get busier and busier in an increasingly fast paced world, you need to be sure that you have a wonderful home to come to, a place where you can relax and be at ease and well, just be yourselves. So you need to invest all your hard-earned wealth in a place where value for money is guaranteed, where everything is customized to suit your needs, where you can work and rest all at the same time and
moreover sleep in peace! “You buy a house we give you a home. Giving you a place you can heartily call a Home” has been the goal of Prabhudessai Realtors since its inception in 1993. Building houses is indeed their business, but providing homes is their passion. And it is with this honest aim in mind, that Prabhudessai Realtors have made forays into real estate all through these years
For inquiries call 0832-2733636
STARTING YOUNG
All credit for their success up till now, goes to their users says Lucio, as that has motivated them to develop bigger and better apps
Ajay Naik and Lucio Mesquita
Tech Passion
L & A Tech Pvt Ltd
MONALIZA DIAS talks to Ajay Naik and Lucio Mesquita about what makes them passionate about helping others
L
ucio Mesquita and Ajay Naik are young men of just thirty one and twenty eight, respectively, but have already achieved milestones in their professional lives. It is easy to assume them to be your next door neighbours. The quiet ones who never seem to mingle around with the rest. But what we fail to see is that the quieter you are; the more of a genius lies within you! They are the minds behind some of the most brilliantly articulated apps, developed by their company L & A Tech Pvt. Ltd. These apps have been downloaded in six continents, one hundred and ninety countries and six thousand cities – nine months since they launched the first app ‘Bible Inspiration’ earlier this year. Lucio says, “We have around 12 apps, but the ones most successful are Bible Inspiration, Bible Story and Bible Quotes. Bible Inspiration has the most number of downloads.” Ajay is quick to interject, “Bible Inspiration also has a Roman Konkani version called ‘Povitr Pustok Prerna’. The apps are available on Android, Windows and will soon be out on IOS” “Ajay and I used to work at Goa’s biggest IT Company, ‘Persistent Systems’. Though we were quite satisfied working there, we always knew that we wanted to make life easy for people. Since technology is the best way to make lives easier, we decided to launch our own app. After watching our colleagues, who religiously read at least one inspirational quote daily on the internet or on holy books, we knew this was what we had to do. We quit our jobs and established our company L & A Tech Pvt Ltd in 2011. We did not know whether this entrepreneurship stint would work, all we had in mind was our goal and the desire to make a change,” says Lucio. Lucio further explains that the Bible Inspiration app gives you a quote from the Bible depending 24 Business Goa
DECEMBER 2013
Ajay Naik and Lucio Mesquita
Apps developed by L & A Tech Pvt Ltd
The duo has developed around 12 apps, but the most successful ones are Bible Inspiration, Bible Story and Bible Quotes on your mood. On running the app, one can select a mood from a choice of emoticons. You will receive biblical quotes based on that mood till you change the emoticon. The app even allows you the option to ‘favourite’ certain quotes. You can also share a particular quote over various social media platforms. “We are constantly improvising, based on the suggestions of our users. Many of them had asked for prayer requests. Thus we included the option of prayers. We also plan to add a panel of spiritual leaders to advise users in addition to a cloud syncing feature. Not only are we working on these features, but we are going to come up with many more in the months ahead,” reveals Lucio. Though it may appear easy, a lot of effort goes into ensuring the smooth functioning of their apps. “We researched a lot before launching the app. Right from the basic concept, to the colours that are used in the app. We wanted to make it convenient for the users, non-taxing on battery life and very simple to use,” states Ajay. Despite having numerous successfully running apps, and
the risk of being carried away by the lucrative business, Lucio and Ajay still stand by what they believe in and continue working towards making people’s lives easier. To this extent, they launched a non-profit app called White Knight. Lucio elucidates, “We launched White Knight as part of our corporate social responsibility initiative. In case you sense yourself in trouble, all you have to do is press the red alert button and an automated message is sent to selected contacts along with your current location. An automated call is also made to one of your ‘protectors’. The person who comes to your rescue can even track your location. The idea of this app was to make it quick during an emergency.” Many would question the decision to leave a highly respectable job and step into uncharted territories. Lucio defends their decision saying, “We all have that inner drive to get out there and see if we can make it. Achieving that is not possible in the comfort of a fixed salary. Hence we lunged into the unknown only because of our passion for technology.
Moreover we are still young; if we fail, we have a variety of options before us.” All credit for their success up till now, goes to their users says Lucio, as that has motivated them to develop bigger and better apps. “Their feedback has been nothing but positive. It is really uplifting. This is a competitive market. We have to constantly reinvent ourselves. Because if a user is not satisfied with your app, they will move on to another. Right now, considering the amount of users, we have to be among the top 3 Indian based app companies. We are also a certified Microsoft Bizspark start up. It was a tough selection procedure but we managed to get through. This too, was inspirational to us,” he says. Success comes only through hard work. No one knows this better than Lucio and Ajay. The success that they enjoy today has come only after taking the long road. “There is a lack of awareness about the IT industry as a whole. Getting government recognition is the most cumbersome task to achieve. Explaining our business plan was also nerve wrecking,” laments Lucio. Many of us find success in the most unlikely places. It could be when you slip into your bed after an eventful day at work. You realize that is the definition of success for you and for some success is strived for. Lucio and Ajay unanimously agree, “The definition of success is ever changing. You can either improve your success ratio every day or be content with where you are today. We believe we are on our way to success”
“There is ample of growth in the IT industry. Most other industries require our services to update their infrastructure. Pharmaceutical and the hospitality industries are always seeking the help of IT professionals with their growing infrastructural needs. Since the Government
ENTERPRISE Prashant kuncolienkar
computronics
Pioneering IT services in Goa MONALIZA DIAS speaks to Prashant Kuncolienkar of Computronics about his growth in the I.T industry when it was still in its nascent stage in Goa
T
here are some Goans who leave their motherland to seek better opportunities in the bigger metros and countries. Only a handful will ever say Goa is where they want to be to further their careers. Case in point is Prashant Kuncolienkar. Twenty four years ago, one would look at a person with complete shock if he even spoke about establishing a computer-based business in Goa without any background of entrepreneurship. Prashant took that risk and today has climbed to the top of the business ladder through precise and careful actions gathering knowledge wherever he could and embedding it into his professional life. He says, “I earned a Diploma in Industrial Electronics Engineering from Government Polytechnic, Panaji in the year 1988. Soon after, I worked for the leading consumer brand ‘Onida’. While I was working for Onida I was flooded with opportunities, I even had an opportunity to go to Japan for training but the bothering aspect was the fact that I had to settle in Mumbai after my return to India. Though the salary and the facilities provided were quite attractive, I always dreamt about starting something of my own. My heart ached, but I quit Onida and sought financial assistance from EDC and also Directorate of Industries for the seed capital. Finally in the month of March 1989 ‘Computronics’ was established. Even though I did face resistance from many people who mocked me for leaving a lucrative job, I never gave up,” he says. Every one of us believe that we can bring the best to the clients but very few like Prashant actually make an effort in providing nothing but the best to their clients. Computronics deal in hardware and network 26 Business Goa
DECEMBER 2013
Prashant Kuncolienkar
I am one of the oldest players in the IT industry of Goa. Hence I do not require marketing tactics since people are already well aware of our existence. I can boast of the fact that our clients are the best marketing executives who always recommend ‘Computronics’ after receiving our services Prashant Kuncolienkar solutions. “We provide our services till the full execution of the project. Besides this, we
are also authorized dealers for various brands such as Lenovo, HP, Sony, Dell, Samsung etc. For networking solutions, we use brands such as Cisco, Avaya, D-Link, Digisol and Schneider. In order to be the best we have to be different only then would we be able to tickle the curiosity of our clients,” says Prashant who adds that they are not plain box movers. They offer complete end to end solutions in not only IT infrastructure but also if need be go the extra mile by providing services such as plumbing, furniture, electricity etc to install the IT project. They begin by understanding the needs of clients, their budget, and headroom for expansion only then do they present them with a proposal. They also prepare a blueprint of the project and co-ordinate with other agencies such as electrical contractors, furniture contractors and then
prepare the final drawings. “We make it a point to interact with our clients at various stages of the project. These things make us different from our competition. This leads to the overall benefit of our clients,” explains Prashant. There is a difference between being confident and being humble, not all successful people possess a balance of the two; but Prashant who believes that since he started from the bottom, he always made sure not to get carried away with the waves of success. He is not only a humble man but also an intelligent businessman. “I am one of the oldest players in the IT industry in Goa. I do not require marketing tactics since people are already well aware of our existence. I can boast of the fact that our clients are the best marketing executives who always recommend ‘Computronics’ after receiving our services,” he proudly states. Prashant also credits his customers for being the reason behind his success. “Due to the undying dedication of our clients we at ‘Computronics’ are able to enjoy the status of being among the top five IT solution companies in Goa. To keep our clients content with our services, we need to constantly reinvent ourselves which we never fail to do. We live by the motto of ‘Total Customer Satisfaction backed by prompt service’. It has now become our business mantra and we follow it religiously,” he reveals. The IT industry has huge potential with enough room for every IT professional to grow. Prashant agrees. “There is ample of growth in the IT industry. Most other industries require our services to update their infrastructure. Pharmaceutical and the hospitality industries are always seeking the help of IT
has now announced the revival of the IT Park, we should foresee a huge market potential of the IT industry and IT enabled services. Our target clients include individuals such as doctors, lawyers, chartered accountants, homemakers and other salaried persons,” says Prashant professionals with their growing infrastructural needs. Since the Government has now announced the revival of the IT Park, we should foresee a huge market potential of the IT industry and IT enabled services. Our target clients includes individuals such as doctors, lawyers, chartered accountants, housewives and other salaried persons. We also do projects for hotels, corporates, hospitals, educational institutes, Call Centres and BPOs. We have recently successfully completed projects such as Goa Police Control Room, Centre for Innovation and Business Acceleration, GCCI Incubation Centre, Hotel Golden Tulip, Saikshama Call Centre and the likes.” No road to success is smooth. It is always a bumpy journey. “In the initial stages no financial institution supported us because of an absence of assets. There were times when we would not receive payments from
Computronics deal in hardware and network solutions. They provide services till the full execution of the project. Besides this, they are also authorized dealers for various brands such as Lenovo, HP, Sony, Dell, Samsung among others clients and hence faced major crisis. But somehow managed to recover our losses. From our initial days of stress to today’s success, we are a renowned brand in the Goan IT industry,” says Prashant. Throughout his journey, he came across many hurdles but he always managed to get over them. As in life you
cannot manage to give up when you are faced with trouble but instead you must put on your armour and keep moving. This being true for Prashant who never gave up and today is a successful entrepreneur. He credits his achievements to his parents who always stood by him through every decision he made as well as his wife and children for their undying love, support and dedication. “For all that I have managed to achieve throughout my twenty four years is all due to my parents who always stood by me through every decision and my wife and children for their undying love, support and dedication. On a concluding note Prashant stresses that engineers passing out from various institutions must come forward to establish their own units as it will not only ease the problem of unemployment but also boost the overall industrial growth
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PANAJI GOA VOL 5 ISSUE 1
JULY 2013
www.businessgoa.in News Views Articles Interviews Profiles Focus Analysis Opinions Events Features
DECEMBER 2013
Business Goa 27
INTERVIEW OF THE MONTH
www.businessgoa.in
Prashant Shinde
Verna needs attention in proportion to its contribution Prashant Shinde, President, Verna Industrial Estate Association in conversation with ALISHA PATEL about the ongoing problems at the Verna Industrial Estate and the work undertaken by the Association What are some of the major problems plaguing the Verna Industrial Estate? There are a lot of issues. Right now one of our major issues is that we do not have a waste disposal site. All units are currently trying to dispose their waste on their own. At the same time, we expect the GIDC to allot us a plot where we can set up a waste disposal plant to scientifically dispose off the waste. We also have a big water issue. Luckily the new Government have built a reservoir (though it is yet to start functioning). We also have power problems. Existing units cannot expand their operations due to a lack of power to support the expansion. The quality of power is bad, too. Power shortages are a common problem. Despite being the biggest industrial estate in Goa, the electricity department is apathetic towards our problems. We have been asking the Government to provide us with underground cabling; but till date there has been no progress. We are also in a constant clash with the GIDC over the maintenance of the Industrial Estate. Allotment of plots for expansion is also one of the major issues that we face. Despite being in the industry for a number of years, we aren’t given plots. At the same time, we do not feel that we are getting positive vibes from the GIDC. We need infrastructure; we require a truck terminal. Rail connectivity too, seems to be a distant dream. Signboards, roads and streetlights need repairs. Even approaching the private sector for basic requirements like electricity and water is unaffordable for a majority of the constituents. Since you took over as President of the Verna Industrial Association, what are the changes? Our daily water requirement at the Industrial Estate is 12-15 MLD. Earlier the Government 28 Business Goa
DECEMBER 2013
Water, power, allottment of plots... there are lots of issues to tackle at Verna Industrial Estate Prashant Shinde
President, vieA
would supply us with just 1 MLD. After much negotiation, they have given us a reservoir. The electricity, which was in a state of chaos has been taken care of and contractor’s bills have been cleared. We are also the first Industrial Estate Association to have our own office. We are very organized. We are also involved in a lot of CSR activities. We have adopted all the neighbouring schools which are sponsored by us and provided them with benches, desks, computers, water purifiers and whatever we felt they needed. We also sponsor their inter school events and train the teachers. We also work with the Panchayat and have given them dust bins for the entire village. We work with the entire community around us as we feel it is a win-win situation for us both. We have more than 400 industries in Verna and till date we have covered seventy five per cent of them in our membership drive. We also conduct events and programmes for all the members which are conducted by eminent resource
people from the Government and other trade and industry bodies. This happens only in the Verna Industrial Estate. Could you tell us something about the Kaun Banega Udyogpati contest? This is my brain-child. I come from a small village in Assolna. I am a first generation entrepreneur and I own four companies today. Looking back at how I set up, without any godfathers, I want to offer the younger generation a chance to pitch their entrepreneurial ideas along with the right kind of support. So for the first time ever, we are offering students the chance to pitch their ideas to us. From there on, we will choose the best ones to make a presentation at a major event which will be held this month. From there, the winner will receive a cash prize of Rupees One Lakh as well as a one year incubation space along with mentoring. I personally feel that if I can inspire even one person to become an entrepreneur, I
will be happy. The response has been overwhelming, with over three hundred entries. With the right kind of support, I plan to make this an annual event. What is your take on the ‘sick’ units at the Verna Industrial Estate? I can proudly say that there are not even two to five per cent of sick units at the Verna Industrial Estate. You cannot classify any unit at the Industrial Estate as ‘sick’. Even if that particular unit is rented out, there is at least some source of income. Verna is centrally located with close proximity to both Panjim and Margao as well as rail, air and sea port facilities. I personally feel that we are blessed with these facilities. There are a number of closed sheds at the Verna Industrial Estate. Are you looking at a revival of them? Yes we are. We have already started a drive along with the Department of Industries, Trade & Commerce to identify the closed sheds and we have submitted a proposal to the GIDC to revive these industries. First and foremost we expect the Government to acknowledge that we need to generate employment. After employment we have to generate revenue. As an industrial estate, we are paying crores of rupees in taxes. Unfortunately allotment of sheds was plagued by various scams. As per Government norms, sheds once allotted, must start development work within six months. The GIDC has already begun notifying the owners of unused plots, that they must either begin work on these plots or surrender them. I have to stress on the importance of the GIDC in this matter, as it is their responsibility to identify and take action against erring plot owners. Unfortunately, the GIDC and other Government bodies see us
The Verna Industrial Estate Association is one of the oldest associations in the State and it is only in recent years that the Government has started to acknowledge our work. There is some progress being made towards the betterment of the Verna Industrial Estate. as a nuisance as they feel we are constantly opposing them. Hence it becomes difficult for us to work in unison with them. As President of the Verna Industrial Estate Association, I am not receiving any salary from the Government. Whatever work we undertake is done purely out of passion and for the betterment of our own work environment. The Verna Industrial Estate Association is a friend of the industries and the Government. We want a positive change, and that is what we are persistently fighting for. We are providing employment and revenue to the State. In exchange, we expect proper infrastructure and facilities that are conducive for us to carry out business. There is also the issue of shed allotment, where businesses that wanted sheds were not allotted to them because of previous allotments, but
these sheds were unused. Have you taken any action against these owners? To be very honest with you, I myself am a victim of this issue. I applied for a shed of five thousand square meters in 2008. Five years down the line, nothing has been done, despite submitting all the required reports and other requirements. When I applied for a plot, the rate was Rs 375, now it has tripled. Under the RTI Act, I found out major discrepancies in the allotment process. As an Association, we have constantly been appealing to the IDC and other bodies to look into these matters. Today however, the laws are more transparent and there are proper systems in place. People like me however, are still at a loss because despite applying at the old rates, we have to reapply at the new rates. I expect our Chief Minister Manohar Parrikar to look into our woes and deliver justice.
What is being done for the welfare of the employees at the VIE? Being the biggest Industrial Estate in Goa, we employ over fifteen thousand workers. While we cannot cater to the needs of each and every employee, a majority of the bigger industries have taken their own steps towards employee well being. Security is a problem at times. We have also demanded special women’s buses from the Road Transport Department. We also suggest that instead of security guards at each and every entrance, CCTV or cameras could be installed. What according to you is the future of the Verna Industrial Estate? We have a great future. Industry is the backbones of our economy. If proper facilities are given by the Government, we can be a model industrial estate in the country. The Verna Industrial
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Estate Association is one of the oldest associations in the State and it is only in recent years that the Government has started to acknowledge our work. There is significant progress being made towards the betterment of the Verna Industrial Estate. A lot is being said about the Government not doing enough to attract big industries to Goa. What do you feel about these accusations? In all honesty, I feel at this point it is better that big names have not turned to invest in Goa. We do not have the right infrastructure to offer them. Basic facilities like roads, internet connectivity, water and power supply are in a dismal state. Only once these improve qualitatively, the Government should invite industry biggies to set shop in Goa
DECEMBER 2013
Business Goa 29
“When we decided to set up Onkar Industries in 1995 to manufacture electrical pipes, there was no one else manufacturing them in Goa. Builders would purchase them
INDUSTRY Sandeep PRABHU AND ASHISH DUBLE
ONKAR INDUSTRIES
No pipe dream, this D
ALISHA PATEL speaks to Sandeep Prabhu and Ashish Duble about Duraflex, the pipes that they make
uring the mid 1990s the construction sector was peaking. Technology was rapidly changing and the trends in construction were evolving. Concealed electrical wiring was fast becoming the next big thing to hit the industry. Having been in the electrical field for a number of years Sandeep Prabhu, an electrical contractor by profession felt the need to introduce the Goan markets to concealed wiring. Together with cousin Ashish Duble, a management graduate, they teamed up to manufacture pipes required for concealed wiring. “When we decided to set up Onkar Industries in 1995 to manufacture these pipes, there was no one else manufacturing them in Goa. Builders would purchase them from places like Mumbai. Sandeep Prabhu and Ashish Duble Sensing this dearth of the availability of the product in preserving the environment and the booming construction that they operate in. To this industry, we decided to take the extent, they use one hundred plunge and manufacture these per cent recycled HDPE (High pipes,” says Ashish. Density Polyethylene) and LDPE Successful brands aren’t (Low Density Polyethylene) as built overnight and neither raw material. Using recycled was Duraflex, the brand of materials too, makes their pipes manufactured by Onkar products more affordable as Industries. Thorough research compared to their competitors and market analysis went into who rarely use recycled making Duraflex the success that materials. “After careful it is today. “When Sandeep and research, we found a dealer in I decided to manufacture pipes, Mumbai that supplied us with we realized that we had to brand, the granules that we required for price and package our product production,” informs Ashish. He well. We also used our advantage also states that in order to make as local manufacturers to build their products more affordable ourselves,” states Ashish. they also use HDPE and LDPE Explaining more about the name, in a lump form. This they source Ashish explains that the name from neighbouring cities like came about as they picked up on Belgaum and Kolhapur. Once two key features: durability and the raw materials have been flexibility. procured, they then pass through Duraflex strongly believes various processes including 30 Business Goa
DECEMBER 2013
The unit at work
crushing and extrusion, before they are finally wound into one hundred meter pipes in half inch and three quarter inch sizes. “We also manufacture one inch size which is wound into a fifty meter long pipe,” informs Sandeep. Knowing that successful branding held the key to their success, Onkar Industries took painstaking care to ensure that their brand name Duraflex stood out and even included it on their packaging, which was something their competitors did not do. “We opted for white colour packaging. White is considered a colour of purity and that is what we wanted our products to signify. A pure product. The red logo on the packaging is used so that it catches the eye,” explains Ashish. Being a pioneer in any field would naturally attract the attention of others. Following Onkar Industries lead, several others began manufacturing these pipes and even attempted to copy their packaging ideas. Having come a long way since its inception, Onkar Industries today has a growing list of customers which include Lawande
Electricals and other major players in the electrical business. “Despite stiff competition, we still hold a strong sixty five per cent of the market and the use of our products is steadly growing,” says Sandeep proudly. Following a strict path of dealer networks, Onkar Industries has not built direct tie ups with construction companies or Government agencies as they believe that retail dealers are the lifeline of their business. “If a customer approaches us, we direct them to the nearest retailer where they will be able to purchase the pipes. We do this because we believe that our retailers stood by us during our initial days and we do not want to by pass them and make them lose out on business,” says Ashish. Manufacturing pipes for electrical wiring adheres to an extrusion process for which Onkar Industries is well equipped with six extruders. Ashish goes on to explain that the HDPE and LDPE granules are fed into the extruders and from there, dyes are added and then the pipes get pulled through a catapulter. “Each
from places like Mumbai. Sensing this dearth of the product and the booming construction industry, we decided to take the plunge and manufacture these pipes,” says Ashish and every batch of pipes that we produce passes through stringent quality control measures and are weighed to ensure that the customer gets exactly what they are paying for,” says Sandeep. Ashish further explains that during the manufacturing process, they ensure that the pipes are of proper width and weight and that there are no cracks in the casing. “What happens after manufacturing is that, the pipes are laid between concrete. If there are cracks in the pipes, cement will seep through and will interfere with the electrical wires,” he says. Speaking about the growth of the company, Ashish reveals that they began their operations with just one extruder and today have six. “There were days when orders of ten pipes were considered a big job for us. Our
The final Duraflex product
vehicles would carry a maximum of twenty rolls at a time. Now we carry no less than one hundred at a time. Today, we manufacture close to three thousand coils a month. We also have a full fledged team of workers as well as our own vehicles,” says Ashish. Like every brand, initial sales were tough for Onkar Industries as people were reluctant to switch over to a local brand from the variety already available. “There were misconceptions that locally manufactured products were inferior and we had to work
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Like every brand, initial sales were tough for Onkar Industries, as people were reluctant to switch over to a local brand from the variety already available very hard to break those clichés,” reveals Ashish. To make this possible, Ashish and Sandeep opted for a first hand sampling approach where customers and electrical dealers were demonstrated the use of their products and the advantages of using Duraflex. Finances too, were tough during the initial year of operations as it was close to impossible to make ends meet. This resulted in a circle of loans from MSME agencies as well as people close to them. To their credit, they were able to do a
complete U-turn, pay back all their loans and are today posting profits. In a day and age where transparency of operations is highly questionable, Onkar Industries believe in a complete ‘open door’ policy. “Though we try to ensure perfection, mistakes do happen. In the unfortunate event of a mishap, our doors are always open and we are always ready to address complaints. Fortunately till date we have had only a handful of complaints, but we have dealt with them too in a cordial manner and have nurtured mutually beneficial relationships,” asserts Ashish. With the construction industry going through a lull, Onkar Industries have now moved into manufacturing pipes for telephone ducting. They have also taken up export orders. The company is also manufacturing irrigation pipes. “As a result of diversifications, our future looks bright,” concludes Ashish
This view is your’s for a lifetime Come and experience these luxury villas in their nature clad surroundings, set in a very low density complex. Plush and upscale villas of 4 and 5 bedrooms, ready for immediate possession, each with private pool, car parking, elevator and maid’s quarters. Just 5 kms from Panjim. Rare opportunity to make a really good investment at an address that generations will cherish. Add to it, a view that will enchant you for a lifetime.
601 A/602 A, Dempo Trade Centre, Next to Bank of India, Patto Plaza, Panjim - Goa, 403 001. Cell.: 09823054987 / 09823551005 Tel.: 0832-2438559. Email: sales@pmg-goa.com
DECEMBER 2013
Business Goa 31
GOAN BRAND
“A lot of what you see at other pastry shops were our maiden ideas. We are not threatened by others following our leads,” says Suhan Karkal confidently
pastry cottage
A Piece Of Cake
For nearly two decades, we have seen our customers grow. We were doing their birthday cakes and now we are doing their wedding cakes SUHAN and gauri KARKAL
S
tarted in the year 1994 by Suhan and Gauri Karkal, Pastry Cottage has been successful in getting well established as a quality brand in the Goan baking industry. “Way back in 1994, we thought that Panjim genuinely needed a cake shop that served quality fare and that’s when we decided to establish Pastry Cottage,” says Gauri. Ever since its inception, Pastry Cottage has been synonymous with providing quality products at affordable prices. Suhan and Gauri were pioneers in introducing fresh cream pastries to the local market. “We successfully introduced varieties like Black forest, fresh cream pineapple, fresh cream mango which were well appreciated by our patrons. We also introduced a range of stuffed rolls like Chicken Tikka rolls which till today are our bestsellers. These were some of our maiden ideas which took Goa by storm and raised the bar for others to follow,” says Gauri
proudly. As a brand, Pastry Cottage offers the widest range of products including gateaux, dry cakes and savouries. “If you walk in to any of our stores at any point of time you have a choice of over fifteen to twenty varieties of fresh and butter cream cakes, dry cakes and a large variety of savoury options,” informs Gauri. They also have a wide range of dry cakes which not only include the usual hot favourites of Madeira (sponge) cakes, marble cakes, plum cakes but also have a range of signature cakes introduced by them including date and fig cakes. Pastry cottage also produces an array of delicious cookies. “We have one of the widest varieties of cookies to choose from and you will be spoilt for choice”, says Gauri proudly. Their savoury selection is fast moving too, with a growing range of products including mini meals. With the upcoming Christmas season just around the corner, in addition to western
ALISHA PATEL takes a look at what makes Pastry Cottage a favourite among Panjimites confectionery, Pastry Cottage also make a delectable variety of traditional Goan delicacies Like Bebinca, Dodol, Batica, Pinagre, Doce de Grao, Perada etc which are best sellers especially during the festive season. Another hot favourite at Pastry Cottage is the unforgettably delicious Bol Sans Rival. This Almond delicacy of Portuguese descent is a hot favourite, adds Suhan. “No matter how much we manufacture, we are always sold out!” exclaims Gauri, a testament to the quality maintained by Pastry Cottage. Speaking further about the growth of Pastry Cottage, Gauri reveals that they too, like every successful brand, grew from very humble beginnings. “We began with a small store on Atmaram Borcar Road and a small manufacturing unit in Miramar. Today, we have four stores in Panaji making it easily accessible in whichever part of the city one may be in. All our products come out from our new and state of the art manufacturing facility located at Pilerne.” Suhan adds, “With our new manufacturing facility, we are now geared to expand and reach out to more areas and cater to a wider market.” Emphasizing that quality is of utmost importance, Suhan and Gauri say that they have till date not branched beyond Panaji as they believe in providing the freshest of products in the shortest time span possible – from the time it is baked till it reaches the customer. “We believe in giving our customers the best,” asserts Suhan as Gauri adds that their loyal customer base is proof Always well-stocked
32 Business Goa
DECEMBER 2013
of this. “I have seen most of my customers grow up. From doing their birthday cakes, we are now doing their wedding cakes. Things like this make me feel good about our brand and it reiterates the fact that if we have maintained our customer base for two decades, then we are doing something right,” she says Having built a successful pastry empire, one can only wonder how Pastry Cottage manages to maintain their standards at affordable prices. This according to Suhan is their biggest challenge who says that at times they have been forced to raise their prices marginally. Ask him about the cut throat competition and he is quick to reply that it is only when you have competition that you are forced to keep pushing yourself. “A lot of what you see at other pastry shops were our maiden ideas. We are not threatened by others following our leads,” he says confidently. So what’s next for Pastry Cottage? A few more outlets say Suhan and Gauri “There is definitely scope for deeper penetration into the markets and this is something we would like to explore in the coming years,” they conclude
EVENT OF THE MONTH
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Waves 2013 rocks BITS Pilani Ever since its humble inception in 2007, Waves has quickly grown to become a national level festival with participation of colleges from all over the country. Waves 2013 – Hit The Rewind had its grand inauguration on November 7 which saw a breathtaking performance by the Mime Club among several other engaging performances. A myriad of events were lined up for Day 1 such as Drama events – The Nukkad Natak (Street play) competition and Rang Manch (Stage play). The Quiz club had also organised the Science and Entertainment Quiz followed by the Food and Beverages Quiz. The literary events comprised of Press Corps, Word Games and Contention – the Waves Debate. Moot Courts were organised for the first time. For the art enthusiasts, events such as portraiture and the art marathon were also organised. One of the Big Three events –
Grooving to Vishal-Shekhar
Natyanjali was held in the evening with a jam packed auditorium. As a part of the I.A.M (Intervene Act Motivate) Initiative, a selfdefence workshop for girls was conducted by KK Makhija, Chairman, Makhija Rotary Vocational Training Institute. Day 2 kick started with events such as Dhin chak (Bollywood Dance Competition) and Impromptu which kept the audience engaged. Other equally enticing events included the Vices
Quiz, the Silence of the amps, creative writing competition and solo singing. The muchawaited event, Mr and Miss Waves was organized later in the day which drew in a lot of cheering from the enthusiastic audience. After showcasing their talent, Siddharth Santosh from Christ University was crowned Mr. Waves and Zenia from HR College was given the title of Miss Waves for 2013. One of India’s largest
semi-professional Rock Band Competition, Searock had its finals held late in the evening. The winners were Paradox from VIT, Red Shorts from Delhi, and Dark Light from Bangalore. Actress, Kalki Koechlin made a surprise visit to the campus and attended the concert. Not a hint of exhaustion could be seen among the audience and participants as Waves moved to its final day, Day 3. Students occupied the auditorium in droves for the much anticipated Big 3 event, FashP. After some brilliant display of performances, NIFT Delhi was adjudged the winner by none other than the Winner of Femina Miss India 2012, Rochelle Maria Rao. Waves 2013 concluded with an enthralling performance by the highly acclaimed duo – Vishal and Shekhar. Priyanka Chopra’s surprise guest appearance had the audience asking for more
Global Entrepreneurship Week celebrated at CIBA Global Entrepreneurship Week is the world’s largest celebration of innovators and job creators, who launch startups that bring ideas to life, drive economic growth and expand human welfare. GEW inspires people everywhere through local, national and global activities designed to help them explore their potential as selfstarters and innovators. For the first time, Goa celebrated the Global Entrepreneurship Week through programmes organized by CIBA, Verna Goa. On the first day V. C. Kartik interacted with the start-ups at the Centre for Incubation and Business Acceleration and conducted a session on how to pitch. The next day, the event saw a plethora of well acclaimed speakers who enlightened people with their experiences from their domain and business and had engaging discussions with forty enthusiastic participants. Chinmay Rajula, and Mamidi Raja alumni of IIIT Hyderabad 34 Business Goa
DECEMBER 2013
Nandini Vaidyanathan ignites the spirit of entrepreneurship
and founders of ClapOne pitched about their e-commerce website which makes it extremely easy to discover and buy the apparel models used by your favourite celebrities in the movies. Sharad Pandavula and Rupesh Bairy spoke about their startup Clipcard, which is an open card platform that gives users a rich visual summary of any complex data source. Ruturaj Arolkar, founder of Animation and Art School Goa is a double graduate with a Fine Art Degree in 3D Art from the esteemed Academy of Art University in
San Francisco, California, USA which he pursued following his Mechanical Engineering from Mumbai University. He was associated with Rhythm and Hues Studios, Ittina Animation Studio, Takshaa - Academy for the Artist, Protozoa Pictures - USA, Disney, Corus Entertainment Canada, Nickelodeon, O&M among others. He is also a recipient of FICCI Frames Award and the Golden Cursor Award. He educated the participants on animation and shared his experiences on the art, animation and about managing business.
Clinton Vaz, a social entrepreneur pitched about his company vRecycle and gave a presentation on how he tackles the waste problem while making sustainable profits. Pranav Pai Verekar, put forward the concepts of Robotics and its use for industrial Setup and pitched about his company “inventrom” which is dealing in robotics. The final session was delivered by Nandini Vaidyanathan, a mentor and founder of CARMa (Creating Access to Resources & Markets). She shared her experience of mentoring more than 1500 entrepreneurs and dwelt on how to be creative and innovative as an Entrepreneur through real life examples. She is also a teacher who teaches entrepreneurship in several ivy-league business schools around the world and has authored a best-selling book Entrepedia – a Step-byStep Guide to Becoming an Entrepreneur in India
CAMPUS GOA
book shelf
Ganesh Daivajna is New President of Vidya Vikas Mandal. Nitin Kunkolienkar is Vice President Vidya Vikas Mandal a leading educational institution from South Goa, had a change of guard, recently. Ramnath G. Kare who was spearheading this prestigious institution since the past 33 years has stepped aside on health grounds and has handed over the reins to Ganesh M Daivajna, a renowned Chartered Accountant from Margao and a founder member of Vidya Vikas Mandal. Nitin Kunkolienker has been nominated to the coveted post of Vice President of the institution and takes over the mantle from Daivajna. Kunkolienker has been President of the Goa Chamber of Commerce & Industry for over 8 years and carries with him an extensive experience in public administration and education. Ramnath Kare has been elevated as President Emeritus of Vidya Vikas Mandal in recognition of his valuable services for the past three decades in which Vidya Vikas Mandal leapfrogged from a relatively tiny institution to the massive and diverse spread that it enjoys today. It is through
Ramnath Kare, Ganesh Daivajna and Nitin Kunkolienkar
the tireless efforts and dedication of Kare, that the institution had a meteoric rise and boasts today of offering education, covering from K. G to P. G level courses. In fact, this is the only institution in South Goa that offers BBA, BCA, B.Com, LLB, LLM, M.Com, Secondary and Higher Secondary, Pre-Primary and Primary education within a single but a well spread campus. Thanks to Kare’s farsightedness, methodic and disciplined approach, the society grew by leaps and bounds, spreading quality education to every member of the society. No wonder the alumni of Vidya Vikas Mandal are found at the helm of affairs in most of the organizations, private or public alike
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MINOCHER PATEL
Ordinary to extra ordinary True to its title, the book will enlighten readers to discover the perfect synthesis between success and happiness, seldom found in life. The author takes on a profound journey – one that leads us to optimism and triumph, even as we strive through endless fears, anxieties and tribulations. Patel conveys that Passion, Confidence and Attitude are key approaches to a good life. More than being just a self-help literature for millions on India’s aspirants, he treats success and happiness as two sides of the coin – one which is meaningless without the other. Some imperatives to travel from the “ordinary” to the “extraordinary” shared by the author are: Self-reinvention, Persistence, Self-motivation, Humility, Constant self-development, Overcoming fear of failure, Good values and self-awareness. Join the author as he takes you through life’s little explorations and revelations of the good and the bad to unravel the fortunes of success – not just of abundant wealth but of lifelong happiness. Minocher Patel is the Founder-Director of Ecole Solitaire, India’s first residential finishing school and international corporate training consultancy. He is the only Indian Motivational Speaker to receive The Katha U.K.-Global Excellence Award at the House of Lords, London, for emerging as one of the “Best, Most Powerful and Entertaining Motivational Speakers” India has produced in recent times Publisher:
BG CROSSWORD 49
Jaico
QUIZZARE
Six Day Event Management workshop held at Don Bosco College The BBA Department of Don Bosco College, Panaji conducted a six-day event management workshop for students at its campus. Day one saw Resort Manager of Elsewhere, Barbara Lornie talking on guest relations, problem shooting and high end customers. On day two, corporate trainer Pravin Sabnis spoke on training at events. He briefed students on how an event starts with just an idea that has emerged from innovation, imagination and inventions. He urged students that such ideas should be branded and promoted, giving them two methods for idea generation namely MERLIN and Bisociation. Day three saw event manager Jesus Rebeiro guide students on event compering, briefing them on the various aspects of event 36 Business Goa
DECEMBER 2013
management and problems while planning an event. The day also had Proprietor of Garden Glory, Lynette Alphonso speak on floral arrangements and especially on floral arrangements at theme weddings and beach weddings. Event manager Xavier Fernandes spoke on the art of compering and the planning of weddings on day four. He provided interesting facts and figures on the budget of a wedding and the organization of weddings. Event manager and proprietor of Biz n Buzz Events, Sameer Kapadi spoke on outdoor promotions including road shows on day five. The workshop concluded with Executive Director, Capricorn Creations, Elias Fernandes speaking on parties in Goa and the nuances of organizing parties
Across: 1 – Open source peer-to-peer electronic money and payment network (7) 4 – Popular sports channel network (4) 6 – Company co-founded by the author of ‘Imagining India’ (7) 8 – Telecom Regulatory Authority of India, in short (4) 9 – _____ Thai – the chain of Thai massage shops in India (5) 10 – Confederation of Real Estate Developers Association of India (6) 13 – Popular business school in Hyderabad (1,1,1) 15 – ____jet – manufacturer of private jets (4) 16 – Application programming interface, in short (1,1,1) 17 – Lawrence and ____ - the optician chain (4) Down: 1 – Britannia 2 – Material of non-stick fame (6) 3 – Owner of Maggi, Milkmaid and other brands (6) 5 – Park _____ - hotel opposite Azad Maidan, Panaji (5) 7 – _______ Space Sprockets – company from the Jetsons (7) 11 – Popular term for a horse race (5) 12 – India credit rating agency (4) 14 – Accounting record of all monetary transactions between a country and the rest of the world, in short (1,1,1) answers to crossword 48 Across 1 – Polaroid 6 – Yin 7 – Vanity Fair 9 – Ascot 11 – Inc 12 –Maran 13 – Term 15 – CAG 16 – Cobol Down 1 –Pravda 2 – Lion 3 – Olay 4 – Dynamite 5 – Intracom 8 – Titanic 10 – Scala 14 – RTL
professional dossier
Ashutosh Kharangte says, “Our success today never came to us easy though. It used to be just Rohit and I handling just a handful of projects. It would take months before we got our next project. There was no flow of money or projects coming our way. Both of us handled all the functions of the company from marketing to the actual groundwork”
ashutosh kharangte and rohit pinto
Mangal Advisory Services
Breaking new grounds in managing business
A
lthough I have had a Chartered Accountancy background, I was always interested in finance. Hence I took up a job with Pricewaterhouse Coopers in Mumbai for three and a half years. It was an appealing job and I thoroughly enjoyed working there. However, I was never quite satisfied working for someone else. My long term goal had always been to come to Goa. On receiving the devastating news of the death of my beloved mother Mangal, I immediately rushed back to Goa. It was an emotional experience for me as I was faced with a dilemma. I could either choose to join my father Abhay’s CA practice or start my own managing consultancy firm. I eventually decided to lunge into starting my own business, in partnership with my father. I have absolutely no regrets. I finally established my managing consultancy firm called ‘Mangal Advisory Services’ named after my late mother, in the year 2010. While I was working at PWC, I met Dr. Digambar Naik of Vrundavan Hospital. Once I had established my firm, Vrundavan Hospital became our very first client. I helped them improve their systems. I also assisted Dr. Naik with the entire merger of Vrundavan Hospital and Shalby Hospitals. My second client was Kineco, who were looking for joint ventures with international partners. It was during this project that I met my associate partner Rohit Pinto, in 2011. I realized that we could make ‘Mangal Advisory Services’ a huge
Rohit Pinto
38 Business Goa
DECEMBER 2013
success if we worked together. And indeed we did. We put our heads together and came up with brilliant ideas. After Rohit joined me, we broke down our service; due diligence into 4 major aspects – operations review, mergers, acquisition related services, market research and profitability analysis. This made it easier for clients to understand the concept of a managing consultancy. As for my knowledge, this was a novel field that had never been attempted in Goa and only a few places in India have a concept similar to ours. Our major clientele today are in hospitality, healthcare, manufacturing and pharmaceutical industries. During the course of our journey, we took up a project for a pharmaceutical company wherein we had to assess their feasibility of marketing in India. At that time, we did not possess the resources like major companies do. It was just the two of us and hence we were quite anxious about the end result and quite afraid of letting our client down. Fortunately, they were very pleased with the results. This experience made us more confident of our ability in running a managing consultancy. We are proud to say, Nitin Kuncolienker of D-link was and is still currently our mentor. It is only through his recommendation that many people have approached us for our services. He has helped us a great deal in teaching us how to run our business. He has even introduced us to the Goan business fraternity for which
Rohit previously worked with Air Deccan Bangalore as their planning manager. He later joined Kineco as a Strategy Planner, before joining hands with Ashutosh Kharangte. He is currently the Associate Partner of ‘Mangal Advisory Services’.
we are thoroughly grateful. Our success today never came to us easy. It used to be just the two of us working on a handful of projects. It would take months before we got our next project. There was no flow of money or projects coming our way. Both of us handled all the functions of the company from marketing to the actual groundwork. It took a while, but once we were stable enough, we started employing staff. Today, we have around ten employees and have also recently launched an office in Margao. We have begun offering a wider range of end-to-end services including audit and tax related services. For this we have tied up with Chartered Accountant Uma Chimulkar who is based in Margao. We have even opened a field office in Mumbai, which is quite successful. Looking at the success of our Mumbai office, we plan on venturing into the Pune and Bangalore markets. Besides this, we are planning on launching a new product called ‘Internationalization’ wherein any company planning on establishing a foothold in the foreign market, would receive guidance from us through our international tie ups with foreign consultancy firms. There is still resistance among people who have been running their businesses for numerous years who think there is no better way to run their business than the way they have always been doing. For us, it is a challenge to make them comprehend the benefits that they can receive from our advice. Both Rohit and I love working and thus, if we have to take our family out in the day, we wouldn’t mind working all night to get our work done. We don’t work for the money, but for the passion that we have for our profession. When we started, there were doubts whether the consultancy would take off. Today our biggest motivation is the gratitude and satisfaction of our clients who are more than pleased with the
A Managing Consultancy firm is a field never attempted in Goa and a few places in India have a concept similar to ours ashutosh kharangte
services that we provide them. Our families and well wishers have always supported us. Our clients have given us an opportunity to prove ourselves and for that we are eternally grateful. It is due to them that we have been able to employ staff, establish more offices and I consider that to be a small taste of success. But we still have a long way to go. We are looking forward to making this a one stop solution to not only Goa but India; maybe even the world As told to MONALIZA DIAS
LADY POWER
Rachna says, “I love what I do, and I give it my all. That moment when I have just finished working on a patient’s smile and they look into the mirror for the first time – that look on their faces gives me a feeling of happiness that words cannot describe”
Dr. Rachna Fernandes
Creating million dollar smiles Dr. Rachna Fernandes talks to ALISHA PATEL about her journey and the build up to her own successful clinic, Smile Factory Dr. Rachna Fernandes
The Smile Factory
B
est described by her staff and patients at The Smile Factory as enthusiastic, smart, quick, energetic and a perfectionist, Dr. Rachna Fernandes is the dentist with a difference. Growing up in Bhopal, Madhya Pradesh, Rachna’s mother who was a doctor herself always dreamed of her daughter following in her footsteps. Rachna however had other plans. “I come from a family of doctors and I saw how the profession had affected other members of my family. I found them to be more money oriented than focused on enjoying their profession. During a meeting with a cousin who was also deciding his fate, the idea of dentistry sparked and since then there has been no looking back,” she says. Post her graduation, Dr. Rachna began working as a dental assistant at a clinic in Bhopal. This however, was short lived as a family friend advised her “once an assistant, always an assistant”. With this thought in mind, Rachna quit her job and within a span of a few months, she set up her own clinic which she ran successfully for close to ten years before moving to Goa. 40 Business Goa
DECEMBER 2013
It was here that Rachna took a short break from dentistry. Realizing she was wasting her talent, Rachna decided to get back to dentistry. She then approached Dr. Digambar Naik of Vrundavan Hospitals who did not have a full time dentist on board and immediately accepted her proposal to set up and handle their dental department. “Dr. Naik not only gave me the space to set up my clinic at his hospital in Calangute, he also gave me a free hand to set up the clinic the way I wanted. It was here that I earned a good reputation as a dentist and built a name for myself. The association with Vrundavan Hospitals continued for a good number of years till Dr Naik entered into a joint-venture agreement with Gujarat based Shalby Hospitals. I wasn’t too comfortable with Shalby’s terms and conditions and decided to move out and thus began the journey of Smile Factory,” says Rachna. Within a span of two months, Rachna was able to identify a place to set up her clinic and began operations. Being a Cosmetic Dentist, Smile Factory specializes in crowns, bridges,
veneers, dental implants, dentures, root canal treatments and everything related to cosmetic dentistry. “Cosmetic dentistry is more creative, it is an art form in itself. It requires your own creative inputs. You can do so much more with a patient and that is what I love about this field and my work,” says a visibly excited Rachna. Being in the coastal village of Calangute, Rachna enjoys a good blend of patients who are both Indian as well as travellers. “Each and every patient of mine is special and I have made lifelong friends in some of them,” she reveals with a smile. Ask her what is it that keeps her motivated and she is quick to reply that it is her patients. “I love what I do, and I give it my all. That moment when I have just finished working on a patient’s smile and they look into the mirror for the first time; that look on their faces gives you a feeling of happiness that words can seldom describe. They are often in tears of joy, they can’t stop smiling. It’s a wonderful feeling!” she exclaims. Despite the success of the Smile Factory, Dr. Rachna is reluctant to branch out, as she feels by
doing so, she will lose focus and won’t be able to give patients the attention to detail which only she brings to the table. Like every other woman professional, Dr. Rachna too has to walk the proverbial tight rope, balancing her professional and personal lives. So how has she managed to build a successful career and be a doting mother? “My son, Tanay has grown up watching me work. Despite my busy schedule, I always made time to have breakfast and dinner with him. He has now grown up and is studying in Dharwad and I eagerly look forward to when he comes home,” she says. Dr. Rachna is now looking towards the future. A bigger and better clinic offering more services is on the cards for the Smile Factory. To this extent, Dr. Rachna is currently pursuing her Masters in Restorative and Aesthetic Dentistry through the University of Manchester. “I am always looking to improve and in the coming years I want to be able to reach a height, no one else can reach. I am also looking forward to my son joining me after he completes his dental studies,” concludes Rachna
felicitations
www.facebook.com/businessgoa
Advocate General of Goa, Atmaram Nadkarni turns 50
Pic: Balraj Sahani
Atmaram Nadkarni
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tmaram N. S. Nadkarni is a Bachelor of Arts from the University of Bombay. He has also done his L.L.B as well as L.L.M. through the Bombay University and specializes in Constitutional Law and Criminal Law.He has been a recipient
of the G. N. Joshi Gold Seal Award for securing the highest marks in Constitutional Law. Atmaram N. S. Nadkarni enrolled with the Bar Council of Maharashtra and Goa in August 1986 and began practice at the High Court of Bombay in Mumbai till January, 1991 and has thereafter been practicing in the High Court of Bombay at Goa; Supreme Court of India, New Delhi; and in International Arbitration matters. Atmaram Nadkarni also lectured at the K. C. Law College, Bombay from 1987 – 1990, after which he came back to Goa to continue his practice. He was subsequently appointed as Advocate General for the State of Goa, a constitutional post that he
occupied from November 1999 to February 2005. He is presently stationed in Goa and has been appearing for matters in the High Court, Supreme Court as well as for International Arbitrations. He is also a member The Bar Association of India, Goa High Court Bar Association, Executive Committee of Bar Council of Maharashtra & Goa for a brief period, Chairman and also Bar Council Committee for a brief period. In the year 2008, having regard to his Standing at the Bar and his knowledge of Law, the Hon’ble Chief Justice and other Judges of the High Court of Bombay were pleased to designated him as Senior Advocate by the High Court of Bombay. Some of the important matters that he has appeared in are Writ Petition challenging the validity of the Goa Portaria Provincial
No.332 dated 24/11/1971 Repeal Act, 1997, and Goa (Institute Menezes Braganza) (Supplemental Provisions) Act, 1997; Act No.6 of 1997, Writ Petition Nos.173/2001 and 172/2001, Dr. Wilfred A. D’Souza v/s the Hon’ble Speaker of the Legislative Assembly of the State of Goa; decided on 18th July, 2001; a matter dealing with the Power of Judicial Review of the Constitutional Courts to examine matters under the Xth Schedule to the Constitution of India; at ‘Quia Timet’ stage – before the Orders are passed by the Speaker in a Disqualification Petition before him. These are just a few of the memorable cases he has taken up and succeeded. As he celebrates his 50th birthday, among family, friends and well wishers, Atmaram Nadkarni is wished success, happiness and professional accolades by Business Goa
DECEMBER 2013
Business Goa 41
RELUCTANT ENTREPRENEUR
“If a banker gives you a loan and it goes bad he will stand to lose his pension. If he does not give a loan he can become the Chairman”
Your bank can be your partner to growth The Columnist writes about the hassles faced by him in obtaining a loan from a reputed bank
Blaise Costabir The Columnist a first generation entrepreneur whose company rotomoulds custom moulded technical parts blaise@gmizm.com
At private banks, the personal touch is absent as everything is system controlled by an anonymous central operations team, somewhere. Cutting edge technology surely does not make up for a face to face discussion to sort out banking issues
M
y impression of the banking business, when it related to MSME sector was this: “If a banker offers you a loan and it goes bad, he will stand to lose his pension. If he does not give a loan, he can become the Chairman.” This impression emerged out of my experiences in trying to obtain a loan for the new unit that we were planning to set up. When it comes to a bank, you need an introduction and that 42 Business Goa
DECEMBER 2013
defines your choice. Rarely will an entrepreneur have the liberty to make a choice based on the bank’s fundamentals. We had our fair share of applying for a loan – in vain and by wasting enormous time. The process is “manager” dependent and therein lies the rub. Banks can generate 101 legitimate excuses – the one that comes home to roost is that they are over exposed to a particular sector. If that is the case, how come individual banks had such huge exposures to the barge and truck business which are now termed Non Performing Assets or NPAs due to the ban on mining in Goa? We decided to approach a top nationalised bank without any reference. The Manager here was keen to do business, but he needed collateral security in the form of Fixed Deposits. Our plea that such a request is absurd because who would keep FDs and borrow at double the cost against them. Even if an entrepreneur was naive enough to do so, if something went wrong, the bank would encash the FDs right there. So what is the bank doing lending at such a high rate when they have no risk?! The Chairman of the nationalised bank was visiting Goa and he made a public statement that there is money available but there are no takers in Goa. The press went to town
stating that even though there is availability of finance, one has to have guts to borrow and do business and Goans lack what it takes. Our objection to such a statement in the media shook the top brass of that top nationalised bank and a meeting was fixed to thrash out the perception and reality. The outcome of the meeting was great – the Chairman agreed that there is no need to pledge FDs as security to borrow. So why did the manager make the demand of asking me to pledge FDs to secure a loan? Simple, he wanted to be Chairman one day. We spent 15 years banking with them. Once in, it was a different ball game especially if the company performs. We learned one big lesson, without the support of your banker the company cannot grow. Therefore honesty and openness must be the bedrock of this relationship. After all, if the Manager is going to support you, he must know the correct picture. We also learned to structure the balance sheets so that the correct picture is presented. For instance, interest on loans from promoters should not be categorised under short term loans, but correctly under long term sources, more because the ratios get affected and bankers go by ratios. When we went in for an expansion, we fell for the lesser
interest sales pitch of a top private bank and we are still regretting this decision. In the five years that we are associated with them, it is clear that at the level where bank and customer interact there is no expertise, simply postmen like ties exist. The money saved by the lower interest rate is snatched away under the guise of charges. The personal touch is absent as everything is system controlled by an anonymous central operations team, somewhere. Cutting edge technology surely does not make up for a face to face discussion to sort out banking issues. We have now embarked on a mission to switch back to a public sector bank, with our track record of no default over 20 years, one would assume the banks would be lining up to get our custom. Truth couldn’t be further. For MSME companies, there are takeover norms. Famous booze companies that diversified into the airlines business will get crores in loans despite defaults, but for an MSME the task of securing business loans is what one would describe as uphill. The lesson here is to do business with a good public sector bank from the start. And stick with them. They do take time to get comfortable with your business but once they do, both your company and the bank tends to benefit from the union
LEGAL EAGLE
Goa’s revenue deficit on account of ban on mineral ore mining extraction, transportation or sale is a matter of common knowledge. According to reliable statistics, Goa would generate Rupees 1000 crore each year from the mining sector alone. The initial self-imposed ‘pitfall’ ban and thereafter
Stamp Act Amendments The Writer talks about the changes effected by the Indian Stamp Act
T Raunaq Rao The Columnist is a praticing Advocate and takes keen interest in public affairs and socio-legal issues raunaq.rao@gmail.com
The amendment to the Indian Stamp Act is widesweeping. This can be seen from the changes effected in the definitions. The intention is clear and that is to make the legislation all pervasive
he Indian Stamp (Goa Amendment) Act, 2013 (Goa Act 11 of 2013), came to be passed by the Legislative Assembly of Goa on 02.05.2013 and received the Goa Governor’s assent on 21.05.2013. The same was duly notified in the Official Gazette on 22.05.2013. Goa’s revenue deficit on account of ban on mineral ore mining extraction, transportation or sale is a matter of common knowledge. According to reliable statistics, Goa would generate Rupees 1000 crore each year from the mining sector alone. The initial self-imposed ‘pitfall’ ban and thereafter the Stay by the Apex Court has had its effect on the State’s Revenue model. It was but obvious that this would have a collateral damage on the next most promising sector in the State – Real Estate. The Financial Memorandum appended to this legislation at its Bill stage clearly indicates that the State intends to tap additional revenue. The amendment is widesweeping. This can be seen from the changes effected in the definitions. The intention is clear and that is to make the legislation all pervasive. In sum and substance, the changes effected by this amendment are:Definitions An “Association” now means any association, exchange, organization or body of individuals, whether incorporated or not, established for the purpose of regulating and controlling business of the sale or purchase of, or other transaction relating to, any goods or marketable securities. A “Conveyance” now includes:(i) a conveyance on sale; (ii) every instrument; (iii) every decree or final order of any Civil Court; (iv) every order of amalgamation or reconstruction of companies made by the High Court and that made by the RBI under section
44 Business Goa
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44 A of the Banking Regulation Act, by which any movable or immovable property/ estate/ interest therein is created or transferred to any other person, inter vivos, and is otherwise not specifically covered by Schedule I or I-A of the Act. So also, now, any instrument by which a coownership interest is transferred inter se co-owners shall be deemed to be an inter vivos transfer instrument. The expression “conveyance, exchange or gift”, now means “conveyance, exchange, gift, certificate of sale, deed of partition, power of attorney, deed of settlement or transfer of lease by way of assignment”. Sub-Section 16-B adds the term “market value”, which in relation to any property forming subject-matter of any instrument, shall mean the price which it would fetch if sold in open market on the date of execution of such instrument or the consideration stated in the instrument, whichever is higher. This in some way draws analogy to the Arm’s Length Price under the Central revenue model. Revenue Model for Bauxite/ Manganese Mining Sector In case of a mining lease for bauxite, the duty payable will not exceed the amounting rupees arrived at by applying a rate of 0.1 times annual extraction of mineral permitted under the Environmental Clearance issued, multiplied by the period of the lease. In case of a mining lease for manganese, the duty payable shall not exceed the amount in rupees arrived at by applying a rate of 100 times annual extraction of mineral permitted under the Environmental Clearance issued, multiplied by the period of the lease. In case of a mining lease for more than one mineral and having Environmental Clearance, the duty payable shall be computed by taking into account total stamp
duty payable on each of such minerals. Stocks & Securities A new section 10-A provides that in case of transactions through stock exchange or an association under the Forward Contracts (Regulation) Act, 1952, the stock exchange or association, shall collect the due stamp duty by deducting the same from the trading member’s account at the time of settlement of such transactions and remit the same to the State’s Treasury. Agreements Comprehensive change has been effected in respect of agreements, the most important of which are relating to:Sale of a Bill of Exchange shall be Rs.100; Purchase or Sale of Government security or share in an incorporated company or other body corporate shall be Twenty Paise for every rupees ten or part thereof of value of the security or share; Sale of an Immovable Property shall be 2.9 % of the market value subject to a minimum duty of Rs.100 and rounded-up to the nearest hundred in its multiples. And any agreement if not otherwise specifically provided for shall be Rs.100. Agreement of Leave and Licence if relating to residential premises shall now be liable to bear Stamp worth Rs. 500/whereas those relating to nonresidential premises shall now be liable to bear Stamp worth Rs. 1000/Partnership An Instrument of Partnership where there is no share of contribution in the partnership, or where such share contribution brought in by way of cash does not exceed rupees 50,000/Stamp duty payable shall be Rs. 500/-; In cases where such share contribution brought in by way of cash is in excess of
the Stay by the Apex Court has had its effect on the State’s Revenue model. It was but obvious that this would have a collateral damage on the next most promising sector in the State – Real Estate. From the Financial Memorandum appended to this legislation at its Bill stage clearly indicates that the State intends to tap additional revenue rupees 50,000/- for every rupees 50,000/- or part thereof Stamp duty payable shall be between Rs. 500/-upto Rs. 5000/-; In cases where such share contribution is brought in by way of property, excluding cash Stamp duty payable is same as is leviable on conveyance, on the market value of such property as per Art. 22 (a) and (b). Dissolution of partnership or retirement, where on a dissolution on retirement any property is taken by a partner as his share being other than who brought it in as capital contribution to the partnership, Stamp duty payable is same as is leviable on conveyance, on the market value of such property as per Art. 22 (a) and (b). Power of Attorney Any POA when executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents, shall be liable to the payment of Rs. 100 as Stamp Duty; When required in suits or proceedings under the Presidency Small Cause Courts Act, 1882, shall be liable to the payment of Rs. 100 as Stamp Duty. When authorising one person or more to act in a single transaction other than the case mentioned in clause (a), shall be liable to the payment of Rs. 100 as Stamp Duty. When authorising one person to act in more than one transaction or generally, shall be liable to the payment of Rs. 500 as Stamp Duty. When authorising more than one person to act in single transaction or more than one transaction jointly or severally or generally, Stamp duty payable is same as is leviable on conveyance, on the market value of such property as per Art. 22 (a) and (b), similarly in cases where PoA is executed authorizing to sell or transfer immovable property and if given to the father, mother, brother, sister, wife, husband, daughter, son, grandson, grand-daughter or such other close relative, as also in any other case when given to a promoter or developer
by whatever name called, for construction on, development of, or sale or transfer (in any manner whatsoever) of, any immovable property. And Rs. 100 in any other case. Deeds of Relinquishment or Release Any instrument whereby a person renounces a claim upon other person or against any specified property if the release deed of an ancestral property or part thereof is executed by or in favour of brother or sister (children of renouncer’s parents) or son or daughter or son of predeceased son or daughter of predeceased son or father or mother or spouse of the renouncer or the legal heirs of the above relations the Stamp Duty payable shall be Rs.1000. And in any other case same as is leviable on a conveyance under clause (a) or (b), as the case may be, of Art. 22, on the market value of the share, interest, part or claim renounced. Surrender & Transfer of Lease Agreement for surrender of lease with consideration or transfer shall be liable to stamp duty same as is leviable on a conveyance under clause (a) or (b), as the case may be, of Art. 22, on the market value of the consideration. In case there is no consideration then the same shall be Rs. 1000. Trusts In case of religious or charitable purpose with incidence of disposition of property stamp duty shall be payable in the ratio of 500:10. Whereas in any other case, as per Art. 22 (a) and (b) on the market value of the property. In cases where there is no disposition of property, and the purpose is religious or charitable then the same shall be similar to that of a Bond under Art. 15 in relation to amount or the market value of the property settled but not exceeding Rs. 200. In any other case, the same shall be similar to that of a Bond under Art. 15 in relation to amount or the market value of the property settled DECEMBER 2013
Business Goa 45
LETTER FROM AMERICA
Domestic spending is one of the major drivers of economic growth in the United States. Print and electronic media push Americans into buying products they may (or may not) need
It’s the holiday season The Columnist regales in the spirit of New York’s Christmas
Jay Dehejia The Writer used to be a senior corporate executive, now a social entrepreneur. He spends most of his time between Goa and New York jay@dehejia.net
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he end of the year is a wonderful time to be in New York. We celebrated Thanksgiving at the end of November and are now getting ready for Christmas. Fifth Avenue, all the way from Central Park down to Union Square, is awash with festive lights. Strung across the avenue every few meters are beautiful decorative stars and figurines all lit up. The displays in the shop windows are sprinkled with glitter and gold, enticing shoppers to walk inside and buy gifts for family and friends. The revolving doors of stores are constantly moving with the rush of shoppers. There is frenzy in the air as shoppers try to work out what to buy as Christmas gifts. Shops stay open from early morning to late at night to tempt people to buy. Is it consumerism at its best or is it at its worst? Americans just celebrated Thanksgiving, a four-day holiday weekend that occurs on the 4th Thursday of November. This year, Thanksgiving Thursday fell on November 28th. That means that there are only 28 days till Christmas Day. I believe that shops earn over a third of their yearly revenue and even more of their profit in this last month. 46 Business Goa
DECEMBER 2013
The peer pressure to shop for Christmas gifts is so strong that regardless of what people earn here in the United States, they feel they have to buy something for their immediate family and also for distant relatives. To entice the poor into spending, shops have a ‘lay-away’ plan. The middleincome group, more often than not, will borrow money on their credit cards in order to shop. To take a line from one of the fastfood chains here “America runs on Consumerism”. Let me start with Thanksgiving, the biggest familyoriented holiday in America. It has been an annual tradition since 1863, when, during the Civil War, President Abraham Lincoln proclaimed a national day of “Thanksgiving and Praise to our beneficent Father who dwelleth in the Heavens”, to be celebrated on Thursday November 26. It is believed that the Pilgrims who came from England in 1621, celebrated the “First Thanksgiving”. They had a three-day celebration thanking God for their safe passage across to the New World, and praying that they continue to have good harvest in the future. However there were ‘thanksgiving’ prayers every year starting as early as 1607 when the Spaniards came to America. Every year at about this time, the settlers in the New World prayed for the wellbeing of the newcomers and thanked the Lord for the harvest. Thanksgiving, a time to thank the Lord for what He has given, is for celebration with family and friends for the harvest, and to settle in for the winter to come. Thanksgiving celebrations today have lost most, if not all, of the original significance of prayer and thankfulness for the harvest and freedom from oppression in the ‘Old Country’. In most homes, you will see lavish parties centred round a roast turkey and trimmings along with cranberries and yams and
Macy’s Parade
seasonal vegetables like squash. Where did the idea of turkey dinner come from? It appears to have started when the pilgrims first landed here in 1621, hungry from their long journey across the Atlantic. The Native American Wampanoag tribe introduced the pilgrims to cooking their native wild turkey, corn and squash. The pilgrims and the Native Americans sat together in prayer to eat their first good meal. The traditional turkey dinner at Thanksgiving also led to the official ceremony at the White House where the President officially ‘pardons’ a turkey. This tradition is supposed to have started in 1865 when President Lincoln spared the life of a turkey. The White House reporter Noah Brooks said in his dispatch “About a year before, a live turkey had been brought home for the Christmas dinner, but [Lincoln’s son Tad] interceded in behalf of its life. . . . [Tad’s] plea was admitted and the turkey’s life spared.” It caught the imagination of the people and the tradition of the President pardoning one turkey has been followed ever since. The employees of Macy’s, a massive department store in New York started another tradition in 1924 of having a parade. As most of them were settlers from Europe where they had parades at Christmas, they decided that they would dress up in costume and walk down from the north of Manhattan to the flagship Macy’s store on Broadway at 34th Street. This year, Macy’s set up a lot of balloons like “The KoolAid-Man, “The AFLAC Duck”,
and floats like the “Big Apple”, “Bridge to the Future”, “Tome Turkey”, and many more. Over 2 million people lined the streets to watch the parade that’s seems to get bigger and more commercialized every year. The object is to attract more people and persuade them to spend more money as they come to Manhattan for the Macy’s Parade. To add to the frenzy of buying, many shops start their Christmas sales early. This year shops opened at 8 p.m. on the Thursday evening of Thanksgiving itself and stayed open till midnight, to reopen again at 7 a.m. the next morning. Two years ago the rush to get into Walmart, a major discount store, was so intense that the doorman at one of their stores was trampled to death! This is buying frenzy at its craziest. Domestic spending is one of the major drivers of economic growth in the United States. Print and electronic media push Americans into buying products they may (or may not) need. The concept is more of ‘what I might want’ rather than ‘what I really need’. Does that make sense? I leave it to you and the economists to ponder. Many New Yorkers and even more tourists will celebrate the start of 2014 at Times Square as they watch the Ball lowered from the top of 1 Times Square so as to reach the street exactly at the stroke of midnight. I plan to watch the excitement on television from the warm and cozy comfort of my home. If you happen to be in Manhattan, get to Times Square early to view the ball drop. If you are in Goa, get to the steps at the Our Lady of the Immaculate Conception Church located overlooking the Municipal Garden. I wish each of you Merry Christmas and all the very best for 2014. Have a great end of the year and stay safe and healthy as the New Year begins
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GOOD COMPANY
To tackle the problems of listing of shares, encountered by the SME sector, the Prime Minister’s Task Force recommended setting up of dedicated stock exchange /platform for SMEs in 2010. This was followed by SEBI’s circular dated 18th May 2010 which laid down the framework for setting up a stock exchange/ trading platform dedicated to the SMEs
Would you like to list your shares on the Writer talks about the procedure SME Stock Exchange? The to list a SME on Stock Exchanges
Swatee Rane The Columnist is a Practising Chartered Accountant and Member of Institute of Company Secretaries of India caswateerane@yahoo.co.in
A
janta Textiles Pvt. Ltd. is in the Small and Medium Enterprises (SME) segment, operating from Gujarat. The company is now looking to scale its activities to the next level. This shall need additional finance of INR 5 crores. However, fund requirements of INR 5 crores, makes it ineligible to make an Initial Public offer (IPO) to raise the money by listing its shares on a recognised stock exchange. So, will Ajanta Textiles Pvt. Ltd. have to procure the funds through various conventional sources of finance such as secured loans from banks, financial institutions, unsecured loans from friends or relatives, etc.? Or is there any other option open to the company for fund raising? To tackle the problems of listing of shares, the Prime Minister’s Task Force recommended setting up of a dedicated stock exchange platform for SMEs in 2010. This was followed by SEBI’s circular dated 18th May 2010 which laid down the framework for setting up a trading platform dedicated to the SMEs. The Bombay Stock Exchange was the first one to seize this initiative and was soon followed by the National Stock Exchange. 48 Business Goa
DECEMBER 2013
Merits: What does Ajanta Textiles Pvt Ltd gain by listing its shares on the SME stock exchange? • Financing options: Going public provides SMEs with equity financing opportunities to grow their business from operations to expansion to inorganic acquisitions. Access to equity financing leads to lower financing costs and healthier balance sheets. • Good corporate governance: SME listing ensures that the company has drawn up the internal control systems and set up minimum required framework of corporate governance. • Efficiently distributing Investors risks: Capital markets help to distribute risks efficiently by transferring it to those best able to bear it. SME exchange ensures that capital flows to its best uses and activities with higher payoffs are also funded. • Tax Benefits: In case of listed shares, tax on long term capital is nil and short term capital gains is 15 % provided the transaction has been subjected to securities transaction tax (STT). • Premium Valuations: Listed SME companies would attract a higher valuation than unlisted companies. • Entry and exit opportunity for PE investors: The presence of a market-driven transparent platform provides a easy entry and exit for strategic investors. • Visibility: SME listing helps to get greater public awareness through media coverage, and research by investment analysts. • Unlocking/Benchmarking Value: The companies listed on a stock exchange are traded and the market forces establish their fair or near fair-value, leading to unlocking of fair value of the SME businesses. Pre-Requisites: If Ajanta Textiles Pvt. Ltd. decides to get its shares listed on BSE-SME exchange, the re-requisites which company has to ensure are: • Company should have
been incorporated under the Companies Act, 1956. • The post-issue paid up capital of the company shall be at least Rs.1 crore. • Net worth (excluding revaluation reserves) of the company should be at least Rs.1 crore as per the latest audited financial results. • The Net Tangible Assets of the company shall be at least Rs.1 crore as per the latest audited financial results. • The company should have Distributable profits in terms of Section 205 of the Companies Act 1956 for at least two years out of immediately preceding three financial years. Extraordinary income will not be considered for the purpose of calculating distributable profits. Or The net worth shall be at least Rs.3 crores. • It is mandatory for a company to have a website. • It is mandatory for the company to facilitate trading in demat securities and enter into an agreement with both the depositories. • A certificate from the company stating that the Company has not been referred to the “Board for Industrial and Financial Reconstruction (BIFR)” and there is no winding up petition against the company, which has been admitted by the court or a liquidator has not been appointed. • It is mandatory for the company to be listed and traded on the BSE SME Platform for a minimum period of two years and then they can migrate to the Main Board as per the guidelines specified by SEBI. Procedure: How does Ajanta Textiles Pvt. Ltd. get its shares listed on the BSE- SME exchange? • Firstly, the Company should consult and appoint a Merchant Banker/s in an advisory capacity. • The Merchant Banker
prepares the documentation for filing after conducting due diligence regarding the Company and planning the IPO structure, share issuances, and financial requirements. • The Draft Prospectus is prepared by the Merchant Banker and filed with the BSESME Exchange as well as with SEBI as per requirements. • BSE verifies the documents and processes the same. A visit to the company’s site is undertaken by the Exchange officials and the Promoters are called for an interview. • BSE issues an In-Principle approval on the recommendation of the Committee, provided all the requirements are complied with by the Issuer Company. • Merchant Banker files Prospectus with the Registrar of Companies (ROC) indicating the opening and closing date of the issue. • Once approval is received from the ROC, the Exchange is intimated regarding the opening dates of the issue along with the required documents. • The Initial Public Offer opens and closes as per schedule. After the closure of IPO, the Company submits the documents as per the checklist to the Exchange for finalisation on the basis of allotment. • BSE finalises the basis of allotment and issues the Notice regarding Listing and Trading of shares. It has been observed that as big companies find it difficult to raise capital from the market, smaller ones are defying the challenging market conditions. Are you a company in the SME sector, and are you scouting for ways to scale up your activities through additional sources of finance. Hey there! What’s holding you back, shouldn’t you be laughing your way to the nearest SME exchange and kickstart the process of listing your company shares
PEOPLE TREE
Any organization model will have 4 basic components namely PEOPLE, STRUCTURE, SYSTEMS and VALUES and these need to be integrated. Each of these are living components but very few organizations take care
The “Incompetence” model The Writer’s views on incompetence in organisations and how they can change it
M Kishore Shah The Writer is a organisational development and talent analytics consultant. He is also the founder sponsor of Goa CSR awards shahkishorem@gmail.com
Organisations are unable to cope up with the demand surge which comes immediately after the ‘doom’ phase popularly called “Winner’s curse” thus pushing the CEOs into a roller coaster ride
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ost organisations either react or respond to the stimulus from outside i.e. environment which manifests in the form of demand, scarcity, uniqueness which further gets converted into winning products and services. Hence one would see that during the time of ‘Boom’ everyone grows, yet strangely, quite a few organisations find this growth exhaustive. But the moment ‘Doom’ starts, most of the organisations start gasping because their elasticity is unidirectional or “one way”. Also their very own HR who otherwise consider “People as their greatest asset” paradoxically initiate downsizing! The other side of story is that organisations are also unable to cope up with the demand surge which comes immediately after the ‘doom’ phase popularly called “Winner’s curse” thus pushing the CEO into a roller coaster ride. Why does an organisation collapse like a pack of cards and trigger CEOs to start emergency interventions? Well, here is where we come to the “Incompetence model” which is unknowingly built within the organisation. The best indicator to detect the presence of ‘incompetence model‘ is that it creates a pattern of emotive ebb and rise popularly called as “Kabhi Khushi Kabhi Gam” and this arises due to following macro reasons that a CEO should be aware of: 1) Lack of importance given to “Talent” which means shallowness in understanding, application and analytics of Talent. 2) Over Assuming that HR Managers possess the expertise or exposure to organisational building and development science and practice. 3) Over focused in business development thereby spending more “People time” outside and
pursuing HR as specialisation. more “Paper time” inside. Any organisational 4) Stereo typed attribution model will have 4 basic tagged as “Lack of Motivation” components namely “PEOPLE”, amongst employees whenever “STRUCTURE”, “SYSTEMS” the targets are not achieved. and “VALUES” and these needs To explore why to be integrated. Each of these incompetence model gets are living components but very created in organisations even few organisations take care when a CEO has the best of the of building them in a manner, intentions, we applied the very such that they can expand and simple and effective method – contract without disturbing the The Japanese shop floor ‘Root fabric. In short, during boom cause” search process of asking they grow and during doom they “Why” at least five times. The sustain. reasons were quite shocking! Most organisations oscillate What do CEOs of such from ‘Result’ to ‘Action’. Actions organizations do differently mostly come as knee jerk from others? reactions or a fancy intervention 1) They have or hire O.D. experts which lacks deep thought, either internal or external who introspection of purpose, are constantly reinventing consequences, integration and the organisation through an with mere short term focus organisation development on numeric results it further process i.e. Present improvement accelerates the “Incompetence and Future development taking model” building process. into consideration of ebb and Such half-baked ‘Actions’ rise, proactively. act like pain killers. They 2) They strongly apply the create an illusion of temporary “Sigma curve” on all the 4 numbness from pain and may components of the organisation give temporary relief but the and take proactive corrections root cause remains untouched. for reinventing organisations as One would see this rampant explained below. in organisations like everyone rushing to obtain ISO certifications, 6 sucess Sigma curve sigma, TQM, TPM – I am not implying that these certifications Future development are useless, but the issue is that they B are “Used less” and A C without integration Reinvention phase into the model. For instance, it is like in Present improvement your body building workout you are only Time in years / months / days exercising the lower body with no focus As you would see in on the upper part of your body! the diagram everything in Intervention like “PMS” nature follows a sigma curve, (Performance Management there is invisible growth and System) has actually showed development inside then it shoots negative correlation with out to grow with speed and then productivity improvements and it peaks, which is followed by motivation, yet it is one of the hot the dip and then moves towards favourite topics of most of the HR decay and death. The crux is in fraternity and the MBA students
of building them in a manner, such that they can expand and contract without disturbing the fabric. In short, during boom they grow and during doom they sustain anticipating when you and your organisation’s “A” , “B” and “C” will arrive and the best time is to start the reinvention somewhere during “A” to “B” what is called as second curve which could be a response to external boom or doom . Thus by applying this to “People, System, Structure and Values” along with a strong sensory antenna embedded in the environment, one would always create “Competence Model” 3) Also, they change all the above 4 components simultaneously which creates harmony instead of stress and chaos simply by plotting monitoring and anticipating the sigma curve milestones. 4) They balance both ‘Paper time’ and ‘People time’ both inside and outside the organisation. 5) They move away from HR rhetoric to Talent analytics. 6) They also ensure the following to avoid building of Incompetence
model. a. They are sceptical when HR or any department, claim that it’s people, product or process is better because it is ‘most popular’. Remember novelist W. Somerset Maugham’s wise words “If 50 million people say something foolish, it is still foolish. b. They know that ‘Rational Decision’ making requires that one must forget about the costs incurred to date, no matter how much one has invested. Only the assessment of present and future costs and benefit count, so quite simply, one has to forget the past. c. They understand the difference between “Independent” and “Interdependent” events. Independent events have no balancing forces. d. They avoid the ‘Decision fatigue syndrome”. Having understood that will power is like a battery, they ensure that it is recharged for them and
the key decision makers, by taking breaks, Business network dinners, informal hand out sessions. e. They become their own toughest critic and avoid “Introspection illusion” i.e. avoiding being drunk in one’s own ideas. They step back and examine their quality in hind sight. While discussing these tips on avoiding the building of ‘Incompetence model”, I recollect an anecdote. The Pope asked Michelangelo: “Tell me the secret of your genius. How have you created the statue of David, the masterpiece of masterpieces?” Michelangelo’s answer was, “It is simple. I removed everything that is not David!” Lets us be sincere, most of us do not know for sure what makes us successful, we cannot pin point what makes us happy but we know with surety what destroys success or
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happiness, this realisation is the first step to avoid the building of “Incompetence model.” Negative knowledge (knowing what not to do) is equally important as Positive knowledge (knowing what to do). CEOs should create a circle of competence for them and their organisation i.e. its 4 basic components. Warren Buffet reads the Balance sheet like a musician would read notes. It is because he intuitively understands and masters that is his circle of competence. Anything which falls within the circle of competence for self and the organisation should be granted the freedom to intuitively take the control and anything which falls outside the circle of competence, apply strict rational thinking. In this way, you will avoid the building of ‘Incompetence model” but remember that this is a continuous process
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Business Goa 51
HR MANTRAS
We think in patterns and unless we devote time to allowing pictures to emerge we will have no basis on which to place some shape and form on current events and the hard work we are putting in
Recharge your batteries Success is a function of hard work. But every now and then you got to relax, rejuvenate and return re-energized
The Business Step Stop everything and go for a walk. Just tell people that you are going to get some fresh air. Encourage your people to do the same. Then every three or four months organize a retreat for a couple of days with your team to reflect on the business: now, then, and in the future The Business Point To restore full power you need to recharge your mental, emotional, and spiritual batteries
T
he hard work has to stop some time. Then there is a need to retreat, relax, reflect on events, review possibilities, and recharge your batteries. Good team leaders don’t burn themselves out by sustaining a frenetic pace and being busy for extended periods. Bosses who never stop tend to drive a team crazy. The danger is that we lose sight of what it is all about, as we chase our tails responding to the maelstrom of interruptions, emails, calls on the mobile, 52 Business Goa
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planned and unplanned meetings (and that is before the paperwork begins). For many people, there is simply too much going on to find the time to sit back and reflect. Failure to do so brings the inherent danger of myopia, of losing perspective and not being able to see the picture for the pixels. We lose sight of the objective and the contribution we are there to make for the company. We think in patterns and unless we devote time to allow pictures to emerge we will have no basis on which to place some shape and form on current events and the hard work that we are putting in. So take a walk in the park everyday to allow fresh air to flow through your mind and flush away immediate thoughts. This will replenish your mental energies and bring exciting new perspectives. When you are busy and stressed, your peripheral vision suffers and all you can see is the narrow object in front of you. To obtain the big picture, past, present and future, it is essential that you relax your
Take a walk in the park everyday to allow fresh air to flow through your mind and flush away immediate thoughts mental muscles and allow some cerebral massaging to take place. Green trees, beautiful flowers, lakes, rivers and eye catching sculpture and architecture can provide the stimulus for a fresh flow of thoughts. Break off from your hard work and devote half an hour everyday to such relaxing thinking. Then once in a while, perhaps on a quarterly basis, escape from your everyday location to some distant, fertile pasture where you can obtain an even longer term perspective. Vacations are a great help here, as also are two-day retreats with your team and other groups of interested parties. In retreating to reflect and recharge, it is important that you review your team’s
motivation. Examine your own approach and question whether you have allowed yourself to drift into routine and habit and have thus become too predictable, too undemanding, and insufficiently experimental and challenging. Try to reach out and grab any exciting ideas that bubble through the creative cauldron of your recharged mind. Explore these ideas avidly and resist the temptation of instant rejection, of “can’t do it because I haven’t done it before”. Return from the retreat prepared to be different – but not to such a degree that your team will not recognize you (this would not be credible). It might just be that you come to work without a tie when you have always worn a tie, or you come to work wearing a suit when your team has rarely seen you out of jeans. Every little change you make will have motivational impact, for the simple reason that the change, whatever it might be, will stimulate debate and interest and will thus start channeling your team’s energies in different and perhaps more exciting directions
what’s up goa Start Up Now! On 26th Jan Taking those first Baby–Steps into the jungle called ‘Market Place’ is very daunting for a Startup Business. You know you have to start; you know you have to be visible. You have heard that advertising does wonders for introducing your product and sustaining sales…you know all there is to be done, but only in theory. But you don’t have to worry anymore. Introducing Start Up Now! which is Goa’s unique Business Expo that combines ‘Business with Entertainment & Pleasure’. The event is all about bringing together businesses and entrepreneurs with investors and financial assistance providers. It hopes to put your business or product on a runway to take off. Start Up Now! is the only platform in Goa that offers the unique opportunity of a B-Plan competition at the event. For further details contact Slipdisc Advertising and Events on 0832 6515151 / 6454541
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The Godfather of Hollywood, Robert Di Niro discovers Goa at Goa Chitra Museum
When the Godfather of Hollywood, Robert Di Niro visited Goa, India for the first time, he decided that he wanted to understand the Goan culture and was recommended The Goa Chitra Museum. It was this simple quest to learn about Goa’s heritage and from someone who has done his best to preserve Goan Heritage that brought him to visit the only place that documents the ethnography of the Goan people, the Goa Chitra Museum situated in Benaulim. A very private person by nature, Di Niro shied away from any public
appearance, but made efforts in wanting to understand the culture of the place. He along with his daughter Drena Di Niro were taken on a personal tour around the Goa Chakra and Goa Chitra museum by the Curator of the two Museums, Victor Hugo Gomes. Gomes had a captive and an engaging audience for the two hours that they spent at the museum. Di Nero and his daughter probed and enthusiastically engaged with awe at the indigenous know how of the land. For Di Niro, the journey through the museum was very personal and connected. His daughter, Drena was very impressed with the documentation that was done and took keen interest in the research work that is being conducted by Goa Chitra
Ori celebrates Noodles Feast
The noodle feast is the first on the culinary calendar that Ori has lined up for the season. Corporate Chef Raj and his team have put together a delightful journey of showcasing variety in the much loved noodle. Be it Chinese Hakka noodles or Flat Thai noodles, Glass Noodles or special Japanese Soba or Udon noodles, each mouthful is a delightful burst of flavour. The Ori team is excited about serving you a wide variety of “all that is noodle.” With the great variety for you to choose from, at Ori you can customize your dish through whatever choice of flavours that you are in a mood for. Each preparation of noodle is yours to pick and choose, combined with a wide array of flavours and sauces. For more details and reservations: 7709003237
T N E M T A E R T L A I C E P S T GE FROM THEENT GOVERNM SS E N I S U B R U O Y FOR
in the State of d e r e t s i g re e is r p r icro or Small ente ny tender a n i > If you're a M t n e m t a re t l a le for preferenti Goa, you're eligib epartments. d . t v o G y b d e t a , computer o fl ry e n i ch a m f o e s a h pplicable for purc > This is also a nic items ro t c e l e r e th o d n a hardware ayments > Priority in p es
for
entiv c n I e s a h c r u P Preferential all Enterprises Scheme Micro and Sm For application forms and more information: www.goaditc.gov.in OR Contact: Mrs. Bertha Gracias, Mr. Satish Gaonkar OR Mr. Tushar Sawant AT 0832 2222241
The Facilitation Counter, First Floor, Udyog Bhavan, Panaji, Goa.
GOVERNMENT OF GOA
Directorate of Industries, Trade & Commerce PARTNERING INDUSTRIAL GROWTH
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Goa Art and Literary Festival to be held at International Centre Goa from 5-8 December The Goa Arts and Literary Festival comes around once again to celebrate the creative spirit of the popular, relaxed and upbeat coastal state of Goa as well as the literary diversity of India. The fourth edition promises to be the best in the history of this unique festival, a continuing labour of love and collaboration between the International Centre Goa, Fountainhead Entertainment (Mumbai), the Goa Writers Group and Indian Ateliers. From the first edition, the GALF has maintained a focus on the North East that has only gained in strength over the years. This year, the spotlight is on Assam. Twenty five creative minds from the region promise to make this three day conversation even more exciting, with a troupe of spectacular performers from the Uttar Kamalabari Satra (Ashram) from the magnificent Majuli Island that rarely travels out of Assam. This edition of GALF also features
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an extraordinary line-up of poets, the finest ever assembled anywhere in India in recent history. From all-time greats like Gulzar, Satchidanandan and Eunice de Souza, to outstanding younger stars like Meena Kandasamy and Ranjit Hoskote and more than a dozen others, GALF 2013 will be a treat for all lovers of poetry. GALF 2013 will again feature an emphasis on ‘different ways of belonging’ that highlight the periphery of India, in keeping with Goa’s own different history from most parts of the country. This year, that mission has expanded to Pakistan, and its popular Desi Writers Lounge that will bring in several of that country’s leading writers to GALF – a renewal of a centuries old connection between Goans and Pakistan, and another reason for the state to be proud of this little festival that continues to break new grounds despite severe financial and other challenges
All American dining, the Goan style Baked Chicken with Roasted Pepper & Zucchini
Taking fine dining to all new heights is the SinQ Tavern by Bodega, a New York styled tavern situated at one of Goa’s finest nightclubs, SinQ. With a distinct design and concept, the Tavern evolves throughout the day. Staring the morning as a casual café offering an all-day breakfast menu, the Tavern smoothly shifts into a fine dining haunt as the day passes. The Tavern, focuses on fresh ingredients and everything served is made from scratch.
The menu too changes often depending on availability of seasonal and local ingredients. Dinner service at the Tavern winds up the evening in style, with Chef Vandana concocting a small but constantly evolving menu of eclectic cuisine, inspired by her long stint in New York as well as her Goan roots. From Asian Prawn Curry with Peanut and garlic rice, Beef crepes with Wasabi cream and creole salsa and Sauteed Peppers & Scallions and a classic Mushroom-Garlic Fusilli, you will definitely be spoiled for choice! When the food is fresh & honest, labels and cuisine styles don’t matter much, so don’t be surprised when you see American and international dishes effortlessly rub shoulders with a few Goan classics, with a grand finale of desserts. For reservations and further details contact 9011662233
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AromaThai launched in Panjim
Film Bazaar 2013 held during IFFI
Inspired by the concept and intrinsic value of foot massages and enlightened by the experiences of spas in Thailand. AromaThai Spa was recently launched in Panjim. Krupa Kholkar, partner of Aroma Thai spa says, ”We believe that word of mouth is the best way to set a certain standard for your business as people would rather believe the reviews of others than just have a glimpse of it. Hence we had an ‘experience it’ launch. All The therapists working for Aroma Thai spa were trained in Delhi by Thai trainers. Making the whole experience all the more real for our clients.” She further adds, “We offer foot, head and body massages with a variety of special oils, one such oil is the magic oil which is
Providing an evolving trade market for film industry professionals, the annual Film Bazaar is committed to discovering and supporting significantly compelling talent from South Asia. The Film Bazaar also seeks to address key concerns of the world film community in the dynamic domain of film development, production and distribution. Ever since its inception in 2007, the Film Bazaar has become a converging point for buyers and sellers of film rights and is aimed at facilitating sales of world cinema in the South Asian region and the promotion of Indian Cinema at an international domain. Among the various programmes organized as part of the Film Bazaar, the Producer’s Lab was launched at the Film Bazaar 2013. The aim of the Lab was to provide training
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said to be relaxing with just one drop. We also will be starting the happy hours from the month of December, every month the offer during the happy hours will change, in December it will be a 20 to 30 % discount.” Aroma Thai strives to deliver its unique concept and motto – timely and convenient therapeutic relaxation – the key criterion for satisfaction of customers who consciously or unconsciously have made a large place for stress and health issues in their lives
and networking opportunities to upcoming producers from across the country. The Lab consisted of Workshop Sessions, Case studies and One-on-on meetings spread over three days, which were conducted by domestic and international producers, sales agents, buyers, festival directors and programmers. Among the various topics covered were: The Role of a Producer, The Development Process of a film, Budgeting, Putting together International CoProductions, Film Financing in India and Internationally and the importance of Film Festivals and Film Markets for collaborating on films. Organized annually alongside the International Film Festival of India (IFFI) at the Goa Marriott Resort, the market is a gamut of activity where delegates buy, sell, exhibit and pitch their content
Back Water thrills
WEDNESDAYS & SATURDAYS
Departure: 8.45 am. Arrival: 10.45 pm `650/- per head `450/- for child between 5-12 years of age (inclusive of dinner)
Tickets books are available for sale at GTDC head office, Panaji.
BON APPÉTIT
Thalassa
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My big fat Greek Lunch
ALISHA PATEL finds an authentic Greek experience in the heart of Vagator
Overlooking the sea
P
erched on a hilltop overlooking the magnificent Indian Ocean and the picturesque Vagator Beach is Thalassa, Goa’s only authentic Greek haunt. Best described as a Greek Taverna, Thalassa is a place where the warmth and sheer happiness of Greek hospitality amalgamates instinctively with the laid back, free and tranquil atmosphere of its surroundings. A perfect marriage, to say the least. Owner, Mariketty takes the cake for bringing to Goa the Greek village experience which she grew up in. “Every Island in Greece has its own cuisine. I grew up on the Corfu Island in Greece. Hence a lot of my food is traditional Corfu Island food and is cooked the same way as we would back in Greece,” says Mariketty as she warmly welcomed us to Thalassa. After a brief background of how a Greek meal should be, we decided to stick to Mariketty’s advice and start with a traditional Tzatziki and Pita 60 Business Goa
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Bread. The Tzatziki was light and not overpowering. The flavours of cucumber and lemon shone through beautifully. We also sampled the Mini pies, which as Mariketty informs us are one of the ‘hot favourites’ on the menu. Stuffed with Spinach and Feta cheese, right from the first bite, it was clear why these were so popular. Taking in the ambience, our thoughts were interrupted by a loud smash! Yes, that’s right, every once in a while the traditional and celebratory dance of Greece is performed in Thalassa and everyone is Lamb Mousaka
always welcome to join in the festivities. The dance performed by Madame Sun entails guests huddling up in a circle and is also accompanied by the smashing of plates on the floor and showering of flowers on those partaking in the celebrations. Coming back to the food, our main course had arrived. The tantalizing aroma of the authentic Lamb Mousaka, Kleftiko and Spicy Prawn Saganaki was intoxicating. The Lamb Mousaka was a rich preparation of layers of potato, eggplant (brinjal), lamb mince, and topped with a generous serving of Béchamel
red sauce and cheese. The Kleftiko comprised of lamb, slow cooked with potato and other vegetables topped with cheddar cheese, feta and pastry. The Spicy Prawn Saganaki had juicy prawns cooked in a fresh spicy tomato sauce, cheddar and feta cheese. Digging into the preparations was sheer joy. We could definitely taste perfection in every bite. Rounding up our meal was a chocolate Baklava. Warm layers of filo pastry with crunchy nuts coated with honey made for the perfect end to a heavenly Greek experience
Spicy Prawn Saganaki
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44th International Film Festival of India winds to a close in Goa The curtains came down on the 44th IFFI and was marked by a glittering ceremony starring film personalities from across India and the world also saw several prestigious awards, citations and cash prizes which were given out to film artistes by the dignitaries present. Speaking on the occasion, Union Minister, Information and Broadcasting Manish Tewari said IFFI celebrates the freedom of the human spirit and also announced a major step towards further promoting India as a hassle-free film shooting destination. “India has extended a single window clearance where international film crews can shoot in any part of the country,” Tewari said, thanking all the dignitaries, the Government of Goa, Tourism Ministry, the Chief Minister and actresses Asha Parekh and Michelle Yeoh. Chief Minister of Goa, Manohar Parrikar has promised a bigger and better IFFI going forward. “IFFI saw a huge number of delegates this time. We will plan a grander IFFI going forward. IFFI is one of the most celebrated festivals,” Parrikar said at the concluding ceremony. Michelle Yeoh said “It is my honour to be in the room amidst such dazzling talent.” Remo enthralled the crowd with his trademark music
Manohar Parrikar
Rohit Shetty
Tisca Chopra
Michelle Yeoh
Vishnu Wagh
Sudin Dhavalikar
Francisco Sardinha
Bharat Vir Wanchoo
Rajendra Arlekar
Jimmy Shergill
Varun Badola
Deepshika Nagpal
Lakshmikant Parsekar
Victor Albuquerque
Sharmad Raiturkar
Sylvia Albuquerque
Gulshan Devaiah
Sanjeev Desai
Mahendra Soni
Remo Fernandes
Rajeshwari Sachdev
Bety Reis
Dilip Parulekar
Shripad Naik
Manish Tiwari
Maegdalena Boczarska
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Lavoo Mamledar
Asha Parekh
Fine Dining Restaurant for the Family Tito’s Lane, Saunta Vaddo, Calangute, Baga, Goa. www.titos.in Helpline: 9822765002
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Asha Arondekar launches calendar for the girl child
Asha Arondekar
Nitin Dessai
Rajesh Dempo
Bhakti Dempo
Sanjeev Salvi
Rajesh Kenkre
Kabir Makhija Pinto
Khushi Dawda
Gajanan Kerkar
Ajay Gramopadhye
Amol Arondekar
Tapan Acharya
Prasad Pankar
Rajkumar Kamat
Photo Courtesy: The Navhind Times
Unnati for People and Homework launched Unnati for People and Homework, a brand of homemade made products by the women of Fatorda was launched recently at the hands of Governor, Bharat Vir Wanchoo. Managed by Usha Sardessai, Unnati is the pilot project of the ‘We for Fatorda Foundation’. Unnati for People helps encourage women to be self sufficient. “What we do at We for Fatorda is provide a platform for women to work from the comforts of their home and produce items from masalas to soap products and even handicrafts and then display and sell these products,” says Usha. Explaining more about the brand name, Usha says that ‘Homework’ is completely home made products. The launch was well attended by prominent personalities including Manoj Caculo, Chef Rohan Parish, Dr. Rakhi Ghodge and Sujoy Gupta
Savita Kerkar
Usha Sardessai
Madhavi Sardessai
Manoj Caculo
Rohan Parish
Dr. Rakhi Ghodge
Jaiwantrao Sardessai
Reena Bhandare
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Sujoy Gupta
Sandra Sousa Menon
Assavari and Aditi Nayak
Bharat Vir Wanchoo
Pics: Brendon Sapeco
Asha Arondekar, along with likeminded individuals came together to celebrate the achievements of young Goan girls who have done the State proud, outside Goa, in India and internationally. A table top calendar was published which featured twelve girl achievers. The calendar featured girls from all spheres of life including sports and music. The calendar was launched by Chief Minister, Manohar Parrikar and other top business personalities and citizens who supported the event. Parrikar appreciated the concept and the efforts that went into promoting the cause. “Our endeavour is to envisage your cooperation and support to promote these achiever girls. We must encourage them further to excel in their chosen fields,” he said
NEWSMAKERS Bruno Gomindes participates in International Tourism Convention
Bruno Gomindes and Dorothy Albuquerque, Managing Directors of Travco Holidays Pvt. Ltd. were recently invited by the Mayor of Ourem, Paulo Fonseca and the Portugal Tourism Board as delegates to participate in the International Tourism Convention held at Fatima and the University of Coimbra, Portugal. Bruno and Dorothy were the only representatives from India at this prestigious conference. Aimed at promoting Pilgrim Tourism among destinations like Fatima, Lourdes, Santiago and Rome, the convention provided interactions between travel promoters and locals. “Our past records of promoting destinations were recognized by the Government of Portugal and based on this we were invited for the convention. We have seen the potential of these regions as pilgrim destinations and we are working hard on promoting them among our customers,” said Bruno
Dr. Pramod Salgaocar launches “Baga Beach” movie Dr. Pramod Salgaocar is proud that the film she produced, ‘Baga Beach’ was part of the prestigious Indian Panorama Section at IFFI, this year. She says, “It gave me an opportunity to showcase my film to a national and international audience, which includes critics and the media. I am eager to see their reaction. Although there were suggestions to premiere my film at the Rome and Berlin film festivals, I thought of premiering it here, as it is based on the lives of people in Goa.” Having worked on women and children issues, Dr. Salgaocar was Chairperson of the State Commission for Women for three terms. She feels that the film is a good medium to highlight subtly, the impact of tourism on the people. Dr. Salgaocar, who had earlier produced the Marathi film ‘Marepariant Fashi’ in 2008, says that it won’t be wrong to say that ‘Baga Beach’ has been made for an urban audience. Dr. Salgaocar is currently focussing on taking her film ‘Baga Beach’ to the masses
Vivek Menezes’ photography exhibition at Fundação Oriente Vivek Menezes, renowned Goan writer and social commentator recently held an exhibition of photographs inspired by the great artist Trindade’s works. Vivek was approached as an artist of the 21st century and asked to immerse himself in the works from the 20th century and draw inspiration from them. “The idea was modern interpretations and tributes to Trindade’s works. Among all the artists chosen for this exhibition, I was the first to display my works,” says Vivek. Drawing inspiration from Trindade’s painting ‘The Well’, Vivek’s works focused on the popular feast of San Joao and depicted the gaiety of the feast and were clicked in Siolim. The exhibition is being held at Fundação Oriente and was inaugurated by author, Amitav Ghosh 66 Business Goa
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Deepak Bandekar contributes to The Rotary Foundation
Well known industrialist, Deepak Bandekar recently handed over cheques worth Rs. 30.5 lakhs to the Rotary International Director P.T Prabhakar towards The Rotary Foundation India from the Anant Rajaram Bandekar Endowment Fund at a city hotel recently. Bandekar, a mine owner, is the owner of luxury hotel, The Calangute Towers and has also been in the aviation business. Rotary International is the world’s first service organization with more than 1.2 million members in 33,000 clubs worldwide. Rotary Club members are volunteers who work locally, regionally, and internationally to combat hunger, improve health and sanitation, provide education & job training, promote peace, and eradicate polio under the motto ‘Service above Self’
Elvis Rodrigues gets top job at Infosys North America Alexandre Elvis Rodrigues will be replacing Infosys’ highest paid executive in North America Stephen Pratt, who quit recently to establish his own venture. Born and brought up in Goa’s picturesque island of Chorao, Alexandre who is currently Infosys’ North America regional head (energy and services) will now also take upon him the responsibility as head of utilities and resources for North America, the post held by Stephen R Pratt. Elvis completed his Masters in Business Administration from Symbiosis in Pune after which he joined Modi Xerox and from there was recruited by Infosys which later sent him to North America to head their operations there
quiz
54
1. Which company was responsible for the Bhopal Gas Tragedy that happened in 1983? 2. With which state would you associate the web portal www. greatbackwaters.com? 3. Who owns the company Buffalo Networks Pvt. Ltd.? 4. After which holiday destination is Hyundai’s Santro named? 5. In which field are Amarchand, Mangaldas & Co.and Crawford, Bailey & Co. arch rivals? 6. Identify the business person
Answers to BG Quiz 53 1.Tata 2.Sarees 3.Starbucks 4.flipkart.com 5.AL Jazeera 6.Howard Schultz
Email your entries to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa