Stronger Wings Higher Skies - Corporate.spicejet
Stronger WingsHigher SkiesAnnual Report 2020-21
ContentsCorporate Overview2 SpiceJet: India’s Most Preferred andFastest Growing Airline4 Message from the Chairman andManaging Director6 Strengthening Fundamentals8Corporate InformationStatutory Reports9Notice of Annual General Meeting14Board’s Report31Corporate Governance Report44 Management Discussion and AnalysisFinancial Statements50 Independent Auditor’s Report Standalone Financial Statements60Standalone Balance Sheet61 Standalone Statement ofProfit and Loss62Standalone Cash Flow Statement65 Notes to the StandaloneFinancial Statements114 Independent Auditor’s Report Consolidated Financial Statements122 Consolidated Balance Sheet123 Consolidated Statement ofProfit and Loss124 Consolidated Cash Flow Statement127 Notes to the ConsolidatedFinancial StatementsForward-looking statementsThis annual report contains ‘forward-looking statements’ thatare based on our current expectations, assumptions, estimatesand projections about the Company, our industry, economicconditions in the markets in which we operate, and certain othermatters. Generally, these forward-looking statements can beidentified by the use of forward-looking terminology such as‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’,‘seek’, ‘should’ and similar expressions. Those statementsinclude, among other things, the discussions of our businessstrategy and expectations concerning our market position,future operations, margins, profitability, liquidity and capitalresources. These statements are subject to known and unknownrisks, uncertainties and other factors, which may cause actualresults or outcomes to differ materially from those implied by theforward-looking statements. Important factors that may causeactual results or outcomes to differ from those implied by theforward-looking statements include, but are not limited to, risksand uncertainties regarding fluctuations in earnings, fluctuationsin foreign exchange rates, our ability to manage growth, intensecompetition in aviation sector including those factors which mayaffect our cost advantage, wage fluctuations, our ability to attractand retain highly skilled professionals, time and cost overrunson various parameters, our ability to manage internationaloperations, reduced demand for air travel, liability for damages,withdrawal or expiration of governmental fiscal incentives,political instability, legal restrictions on raising capital or generaleconomic conditions affecting our industry. In light of these andother uncertainties, you should not conclude that the results oroutcomes referred to in any of the forward-looking statementswill be achieved. All forward-looking statements included inthis annual report are based on information available to uson the date hereof, and we do not undertake to update theseforward-looking statements unless required to do so by law.
Though the past year hasbeen challenging, our visionis firmly rooted on thelong-term and preparing for astronger and better tomorrow.The fundamentals of our businessmodel: low cost, on-timeperformance, vast expertise,innovative offerings andcustomer service have remainedintact and robust. It has enabledus to overcome several setbacksand look beyond with courageand determination.While we acknowledgethe challenges ahead, weanticipate unprecedentedopportunities for the Indianaviation industry as thingsreturn to normalcy. We continueto implement measuressuch as enhancing customerexperience by reinductionof Boeing 737 MAX aircraftbetter revenue management,fleet rationalisation, optimisingaircraft utilisation, redeploymentof capacity in key markets,renegotiation of contracts andother cost control measures toachieve consistent positive cashflows in the future.As the aviation industry issteadily recovering from theslump caused by the pandemic,we prepare to reintroduceour Boeing 737 MAX aircraftand cater to the demand forpassenger traffic in the nearfuture. We are ready to spreadour wings and soar higher.At SpiceJet, we aim for -Higher Skies withStronger Wings
SpiceJet LimitedSpiceJet: India’s Most Preferred andFastest Growing AirlineSpiceJet is amongst India’s leadingand most preferred low-cost airline,making flying an affordable andmemorable experience for all withour pioneering offerings and services.We are constantly adding moredestinations, expanding our fleet,and enhancing our services to reachout to millions of flyers across theworld. Our dedicated logistics andtechnology platform, SpiceXpress, isproviding innovative modular supplychain solutions.2
Corporate OverviewStatutory ReportsFinancial StatementsAnnual Report 2020-21Key StrengthsRobustbusiness modelStable and diversifiedrevenue streamsWide network 66 mainline Boeing fleetfor key destinations 32 Q400 forregional connectivityLow-cost model 77% load factor 9.09 hours averageaircraft utilisation Primary (Passenger air travel) 16 freighterfor cargo services Ancillary (Preferred Seating,Spice Max, Insurance,Meals, Spice Vacations,Lounge, Visa, Cab, Cargo,Onboard Merchandise) 139,486 tonnesof cargo carriedExpertmanagementteamSeamlessconnectivity CMD Mr. Ajay Singh,a pioneer of low-costaviation in India Over 23 years of seniormanagement experienceled by Mr. Ajay Singh, CMDSupporting employeesduring the pandemic 41 daily UDAN flightsas on March 2021 No retrenchmentduring Covid times 57 operationalregional destinationsduring FY 2020-21 Subsistence allowancefor each employee98250214145Fleet SizeRoute operated(212 India and 38international)Daily passengerflightsCargo destinations(52 Domestic &93 International)3
SpiceJet LimitedMessage from the Chairman andManaging DirectorDear Shareholders,More than a year later, India andindeed the rest of the world arestill experiencing the depressingconsequences of the pandemic onlives and livelihoods as well as onbusinesses and economies. On thepositive side, the viral scourge hasgalvanised industries and companiesinto action – adapting to the changes,developing new strategic businessplans and preparing for future shocks.The challenges of the pandemichave propelled us to reshape ourcore business and explore unchartedterritories like never before. In thepast one-and-a-half years, SpiceJethas grown in strength, resilience, andendurance, mainly due to the sheerhard work and dedication of ouremployees, partners and stakeholders.Taking the fight to thepandemicAs a brand, we have been at theforefront of the fight against Covid-19.Our cargo and logistics platform,SpiceXpress, coordinated the globalemergency response to deliver recordsupplies of life-saving vaccines, oxygenconcentrators, relief material, medicinesand medical equipment to all cornersof India and the world. We playeda crucial role in ensuring that vitaltrade routes between India and othercountries remained intact. We operatedover 10,564 dedicated cargo flights,including 3,622 international flightsin FY 2020-21 and transported over1,39,000 tonnes of cargo. In addition,we developed capabilities to providedoor-to-door deliveries to over 87 pincodes across India.As the world prepared to embarkon its biggest-ever vaccinationdrive, SpiceJet worked relentlesslyto provide an efficient, speedy andreliable solution for vaccine delivery.We created a sustainable cold-chainnetwork through a specialised servicecalled Spice Pharma Pro. We partneredwith global leaders to offer both activeand passive packaging with dedicatedequipment to execute seamless coldchain operations. Today, SpiceXpresshas the capability to transportextremely sensitive drugs and vaccinesin controlled temperatures rangingfrom -40 C to 25 C.Throughout the pandemic, we airliftedmedicines, medical equipment andrelief materials, mostly from the US,Singapore and China and deliveredthem to cities with acute shortage ofrelief materials. Among other medicalessentials, we also carried cancermedicines for kids free of cost on fourfreighter flights from Delhi to Mumbai,4Chennai, Bengaluru and Kolkata.We were honoured to be a part of thegovernment’s ‘Lifeline UDAN’ initiativeand put our freighters to maximumuse to transport medical supplies,medicines and medical devices forvarious states and pharma companies.Airline with a differenceSpiceJet acted swiftly and decisivelyto respond to the changing needsof its customers. We became themost trusted airline of the country.Both Central and State governmentsrelied on us and supported us to keepthe supply chain intact. We operatedevery single day during the lockdown,carrying thousands of tonnes ofmedicines and medical equipment andfruits and vegetables to all parts ofIndia and across the world.SpiceJet remained committed tooffering its services and helping bothIndian and foreign nationals whenthey needed us the most. We werea crucial part of the Vande BharatMission (VBM), a laudable initiativeby the Government of India to uniteour fellow citizens with their families.In addition to VBM, our employees putin a herculean effort to operate over1,616 charter flights (including VBM),repatriating 2.48 lac people.We left no stone unturned in ourefforts to secure global supply chains.On April 7, 2020, we operated India’sfirst cargo-on-seat flight where weused a passenger aircraft to transportcargo. In addition to the belly space,the passenger cabin was used to safelycarry essential supplies.Under the government’s Krishi UDANscheme, we launched dedicatedfreighter services from Chennai andVisakhapatnam to Surat and Kolkatato help shrimp farmers. SpiceJet alsotransported a record number of freshfarm and shrimp produce throughits dedicated fleet of freighters andpassenger aircraft as well as specialcargo flights to various domestic andinternational destinations.
Corporate OverviewStatutory ReportsStrong logistical supportEven in the midst of the crisis, wecontinued to grow and expand, aswe put our resources to optimum usewhile mitigating revenue setbacks.To cater to the increasing demandfor vital goods and medical supplieson long-haul routes, we inductedwide-body jets – Boeing 767, AirbusA330 and Airbus A340 – to our cargofleet. Today, we have a fleet of 16 cargoplanes including 5 wide-body aircraft.We also became inventive wheneverthe situation demanded. Many ofour Q400 passenger aircraft wereconverted into freighters to beprimarily used for operations in smallertowns and cities, including remote andhilly areas in the North-East, Jammuand Kashmir, and Himachal Pradesh.By the time the world’s largestvaccination drive kicked off inJanuary 2021, we were ready toprovide the much-needed logisticalsupport in terms of transport, storageand distribution. During FY 2020-21,SpiceJet also introduced wide-bodycargo planes for long-haul operationsto Europe, Africa and the CIS countries,while also launching scheduledfreighter services to Bangkokand Singapore.On the passenger side of operations,SpiceJet expanded its footprint acrossall markets. We introduced new flightsto global hotspots including Ras AlKhaimah and Muscat. We becamethe first and only airline to operatenon-stop flights on several routes,Pune-Darbhanga, Pune-Durgapur,Pune-Gwalior, Pune-Jabalpur,Pune-Varanasi, Kolkata-Darbhanga,Chennai-Jharsuguda andNashik-Kolkata. We added Chattogramin Bangladesh to our internationalnetwork, Ranchi to our domesticnetwork, and Nashik and Darbhangaas UDAN destinations. We were alsodesignated as an Indian scheduledcarrier to operate flights tothe US and UK.Back home, we have been activelyinvolved in enhancing regionalconnectivity and feel proud to haveplayed a significant role in fulfilling thePrime Minister’s vision of connectingthe remotest parts of the country.We also launched seaplane servicesbetween the Sabarmati Riverfront inAnnual Report 2020-21Financial StatementsAhmedabad and the Statue of Unityin Kevadia. This will be remembered asone of the most notable events in thehistory of Indian aviation.Resilient performanceAmidst the pandemic, when ourpassenger business witnessed extremesetback, we strategically banked oncargo operations as our mainstay.Revenue from the latter increasedby 518% aggregating to 1,117.5 crorefor FY 2020-21 with a profit of 131crore as against a loss of 134 crorein the previous year. Following thesecond wave and the emergence ofnew variants, we continue to monitorthe impact of Covid-19 even as weimplement various mitigation strategiesto enhance long-term sustainability.With vaccination touching recordnumbers and travel demand slowlypicking up, we hope that the worst isbehind us. We will continue to reduceour costs through restructuring ourcontracts, which will have a positiveimpact in the long term. In terms ofoperational parameters, SpiceJet hadthe best passenger load factor amongall the airlines in the country with anaverage domestic load factor of 77%for fiscal 2021.People taking centre stageThe airlines across the globe haveexperienced challenging times andthat has been the case with SpiceJetas well. Even during these distresstimes, there was zero retrenchmentexercised by SpiceJet, unlike manyairlines around the world which had tounfortunately terminate large numbersof their employees. We ensured thateven during the complete lockdownperiod with no revenues, we providedsustenance across our workforce withemployees in the lowest pay gradesremaining unaffected and junior staffbeing paid subsistence allowance.Even as we grow and expand, we placetopmost priority on safeguarding thehealth and well-being of our employeesand their families. We initiated aninoculation drive for all our employeesand in just a month’s time, our entireoperating cabin crew received theirfirst vaccine doses.offerings to enable passengers enjoy asafe and comfortable journey. We werethe first airline to introduce ZeroChange Fee in March 2021. The airlinehad earlier also introduced a Covid-19insurance cover that included tests,medication, and consultation of Covidpositive patients. We also introducedSpiceJet Extra seat, which allowspassengers to book two or more seatsto make their travel more comfortableand hassle-free.As customer queries aboutcancellations and refunds doubledovernight during the lockdown, welaunched a quick digital solution – MsPepper – a 24x7 automated customerservice agent chatbot that wasintegrated across our website, mobileapp and WhatsApp. Ms Pepper todayautomates and handles 65% of ourcustomer queries across all channels.OutlookThe global aviation industryis recovering slowly from thepandemic-induced downturn, even asthe impact on demand for passengertraffic is expected to continue for sometime. However, this does not imply adeterrent to our growth. In spite ofthe many challenges, SpiceJet, with itswell-diversified operations, innovativeproduct offerings and leaner coststructure is set to grow its businessand emerge stronger in the monthsand years ahead. We look forwardto resume operations of our Boeing737 MAX aircraft which will enhancecustomer experience and bringefficiency in all operations.I wish to thank you all for thecontinued trust and support that hasenabled SpiceJet to endure thesechallenging times and emerge as aresilient airline aiming for strongerwings and higher skies.Stay safe. Stay well.Warm regards,Ajay SinghChairman and Managing DirectorAs part of our efforts to providebest-in-class customer experience,we introduced a range of innovative5
SpiceJet LimitedStrengthening FundamentalsWe are a trusted name inthe Indian aviation industry,having an impeccablerecord of rising persistentlyamidst challenges. InFY 2020-21, we continuedto demonstrate resilienceand operational excellenceby leveraging our robust,low-cost business model.We undertook severalefforts to strengthenbusiness dynamicsand prepare ourselvesfor the future.Cost optimisationmeasuresDuring the year, we implemented severalcost optimization measures includingfleet rationalization, optimizing aircraftutilization, redeployment of capacityin key focus markets, managementand employee compensation revision,renegotiation of contracts and othercosts control measures, to help theCompany establish positive cash flowsin future. The most significant step takenhas been the renegotiation of variousaircraft leases (including 737 MAXaircraft) and reassessment of aircraftmaintenance provisions based on theanticipated scale of operations in theimmediate future. The Company has nowstarted to re-introduce its most efficient737 MAX aircraft which will enhanceoperational efficiencies and reduce costs.6
Corporate OverviewStatutory ReportsFinancial StatementsMaximisingcargo businessAn important development during theyear was the emergence of our dedicatedfreighter business SpiceXpress. While thisbusiness was operating at a good pace,the onset of the pandemic acceleratedit as SpiceJet emerged as the mostpreferred airline for transportation ofvaccines and medical equipment acrossthe world. Since the lockdown began, wehave operated 10,564 cargo flights andcarried 139,486 tonnes of cargo. We alsotied up with multiple partners includingBrussels Airport, GMR Hyderabad AirCargo (GHAC), Adani AhmedabadInternational Airport, among othersin offering cold chain packaging forextremely sensitive drugs and vaccines.Our cargo networknow spans over 52 domestic and93 international destinations, and our aimis to ramp up capacity and network.Annual Report 2020-21Augmentinghuman resources andtechnology infrastructureNew technologies, apps,features introducedHuman resourcemeasures undertaken7
SpiceJet LimitedCorporate InformationBoard of DirectorsAjay SinghChairman & Managing DirectorShiwani SinghNon-Executive and Non-Independent DirectorAnurag BhargavaIndependent DirectorKey Managerial PersonnelAjay AggarwalSanjeev TanejaIndependent DirectorChief Financial OfficerManoj KumarChandan SandIndependent DirectorSr. VP (Legal) & Company SecretaryRegistered OfficeBankersIndira Gandhi International Airport,Terminal 1D,New Delhi – 110 037Bank of BarodaCorporate Office319, Udyog Vihar, Phase-IVGurugram – 122 016, HaryanaWebsite: www.spicejet.com;E-mail: investors@spicejet.comPhone: 91 124 3913939BNP Paribas BankBarclays Bank Plc CityCity Union Bank LimitedHDFC Bank LimitedICICI Bank LimitedIDFC First Bank LimitedIndian BankUnion Bank of IndiaYes Bank LimitedStatutory AuditorsM/s Walker Chandiok & Co LLPChartered AccountantsL-41, Connaught Circus,New Delhi - 110001Registrar & Share Transfer AgentsKFin Technologies Private LimitedKarvy Selenium Tower B, Plot No. 31-32,Gachibowli, Financial District, Nanakramguda,Hyderabad – 500 032E-mail: einward.ris@kfintech.comPhone: 91 40 671622228
Corporate OverviewStatutory ReportsFinancial StatementsAnnual Report 2020-21Notice of Annual General MeetingNotice is hereby given that the 37th Annual General Meeting (the“AGM”) of the members of SpiceJet Limited (the “Company”)will be held on Thursday, the 30th day of December, 2021 at11:30 a.m. through video conference and other audio visualmeans (“VC”) to transact the following ordinary business:1.The Register of Members and Share Transfer Books willremain closed from December 24, 2021 to December 30,2021 (both days Inclusive) for purpose of the AGM.4.In compliance with the e-AGM Circulars, the AnnualReport for financial year ended March 31, 2021, theNotice of the AGM and instructions for e-voting arebeing sent only through electronic mode to thosemembers whose e-mail addresses are registered with theCompany / depository participant(s). All these documentsare also available on the website of the Company atwww.spicejet.com under the “Investors” section.5.The members whose e-mail addresses are not registeredwith the Company/depository participant(s), arerequested to get the same registered/updated. Themembers holding shares in demat form can get theire-mail addresses registered by contacting their respectivedepository participant and the members holding sharesin physical form may register their e-mail addresses andmobile number with KFin Technologies Private Limited(“KFinTech”) by sending an e-mail request at the e-mailaddress einward.ris@kfintech.com along with signedscanned copy of the request letter providing their e-mailaddress, mobile number, self-attested copy of PAN Cardand a copy of the share certificate for registering theire-mail addresses for receiving this Notice and AnnualReport in electronic mode.6.Additional information pursuant to Regulation 36(3)of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 (the “SEBI ListingRegulations”) and Secretarial Standards on GeneralMeetings (“SS – 2”) issued by the Institute of CompanySecretaries of India in respect of re-appointment ofdirector is provided hereinafter and forms part of theNotice.7.Securities and Exchange Board of India (“SEBI”) hasmandated the submission of Permanent AccountNumber (PAN) by every participant in securities market.Members holding shares in electronic form are, therefore,requested to submit the PAN to their depositoryparticipants with whom they are maintaining their demataccounts. Members holding shares in physical form cansubmit their PAN details to the KFinTech.8.Since the AGM will be held through VC in accordancewith the e-AGM Circulars, the route map, proxy form andattendance slip are not attached to this Notice.9.The register of directors and key managerial personneland their shareholding, maintained under Section 170 ofthe Act and the register of contracts or arrangementsin which the directors are interested, maintained underSection 189 of the Act, will be available electronically forinspection by the members during the AGM.Adoption of audited financial statements for financialyear ended March 31, 2021To consider and adopt the audited financial statements(including audited consolidated financial statements) ofthe Company for the financial year ended March 31, 2021,together with the Reports of the Board of Directors andthe Statutory Auditors thereon.2.3.Re-appointment of Mrs. Shiwani Singh (DIN: 05229788)as a Director liable to retire by rotationTo appoint a Director in place of Mrs. Shiwani Singh(DIN: 05229788), who retires by rotation at this AnnualGeneral Meeting and being eligible, offers herself forre-appointment.By order of the Board of Directors Date : December 8, 2021 Place : Gurugram Sd/Chandan SandSr. VP (Legal) &Company SecretarySpiceJet LimitedIndira Gandhi International Airport,Terminal 1D, New Delhi – 110037CIN: L51909DL1984PLC288239Website: www.spicejet.comE-mail: investors@spicejet.comTel: 91 124 3913939; Fax: 91 124 3913844Notes:1.2.Pursuant to the General Circular No. 20/2020 dated May5, 2020 and No. 02/2021 dated January 13, 2021 issued bythe Ministry of Corporate Affairs and Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated May 12, 2020 andNo. SEBI/HO/CFD/CMD2/CIR/P/2021/11 dated January15, 2021 issued by the Securities and Exchange Board ofIndia (collectively referred to as the “e-AGM Circulars”),the AGM of the Company is being conducted throughVC facility, which does not require physical presence ofmembers at a common venue.A member entitled to attend and vote at the AGM isentitled to appoint a proxy to attend and vote at theAGM instead of himself/herself, and the proxy neednot be a member of the Company. Since the AGM isbeing held in accordance with the e-AGM Circularsthrough VC, the facility for appointment of proxiesby the members shall not be available. Participationof members through VC will be reckoned for thepurpose of quorum for the AGM as per Section 103of the Companies Act, 2013 (the “Act”).All documents referred to in the Notice are open forinspection at the registered office of the Company during9
SpiceJet Limitedbusiness hours on all working days, except Saturday/Sunday and other public holidays, between 10:00 a.m.to 12:00 noon from the date of circulation of the Noticeup to the date of the AGM. Such documents will also beavailable electronically for inspection without any fee bythe members from the date of circulation of the Notice upto the date of the AGM. Members seeking to inspect suchdocuments can send an e-mail to investors@spicejet.com.10.Members are requested to make all other correspondencein connection with the equity shares held by themby addressing letters directly to the Registrar andTransfer Agent viz., KFin Technologies Private Limited,Unit: SpiceJet Limited, Selenium Tower B, Plot No. 3132, Gachibowli, Financial District, Nanakramguda,Hyderabad – 500 032 or to the Company at its registeredoffice as mentioned in this Notice, quoting reference oftheir Client ID and DP ID or Folio No.11.Members may participate in the AGM through VC facilityby following the procedure as mentioned hereinafter.The VC facility allows participation of at least 1,000members on a first-come-first-served basis. The largeshareholders (i.e. shareholders holding 2% or moreshareholding), promoter, institutional investors, directors,key managerial personnel, the Chairpersons of the AuditCommittee, Nomination and Remuneration Committeeand Stakeholders Relationship Committee, auditors etc.can attend the AGM without any restriction on accountof first come-first-served principle as per the e-AGMCirculars. Members of the Company under the categoryof institutional investors are encouraged to attend andvote at the AGM through VC.12.Pursuant to the provisions of Section 108 of the Actand rules made thereunder and Regulation 44 of theSEBI Listing Regulations read with the e-AGM Circularsand Circular No. SEBI/HO/CFD/CMD/ CIR/P/2020/242dated December 9, 2020 issued SEBI, the Companyis providing remote e-voting facility to its members inrespect of the business to be transacted at the AGM anda facility for those members participating in the AGM,to cast vote through e-voting system during the AGM.The voting rights of members shall be in proportion totheir shares in the paid-up equity share capital of theCompany as on the cut-off date of December 23, 2021.Mr. Mahesh Kumar Gupta (CP No. 1999), PracticingCompany Secretary has been appointed as theScrutinizer to scrutinize the e-voting process in fair andtransparent manner.13.KFinTech will be providing the facility for participationin the AGM through VC and remote e-voting facility.The procedure and instructions for remote e-votingand participation in the AGM through VC are providedhereinafter and forms part of this Notice.14.The facility for remote e-voting shall also be madeavailable during the AGM and the members participatingin the meeting who have not cast their votes by remote10e-voting shall be able to exercise their right to voteduring the meeting through e-voting. The members whohave cast their vote by remote e-voting prior to the AGMmay also participate in the AGM but shall not be entitledto cast their vote again.15.The remote e-voting period commences on Sunday,December 26, 2021 at 9:00 a.m. and ends onWednesday, December 29, 2021 at 5:00 p.m. Duringthis period, the members of the Company, holdingshares either in physical form or in dematerializedform, as on the cut-off of date i.e. December 23, 2021,may cast their vote electronically. The e-voting moduleshall be disabled by KFinTech for voting thereafter.The voting rights of members shall be proportionateto their share of the paid-up equity share capital ofthe Company as on the cut-off date, i.e. December 23,2021. In case of joint holders, only such joint holderwho is higher in the order of names will be entitled tovote. A person who is not a member as on the cut-offdate is requested to treat this Notice for informationpurposes only.16.Any person holding shares in physical form, and nonindividual shareholders who acquire shares of theCompany and become members of the Company afterthe Notice is sent and holding shares as of the cut-offdate, December 23, 2021, may obtain the User ID andpassword by sending a request at evoting@kfintech.com.However, if he/she is already registered with KFinTechfor remote e-voting, then he/she can use his/her existingUser ID and password for casting the vote as perinstructions mentioned hereinafter.In case of individual shareholders holding securitiesin demat mode, who acquire shares of the Companyand become members of the Company after theNotice is sent and holding shares as of the cut-off datei.e. December 23, 2021, may follow steps mentionedhereinafter.17.Instructions for remote e-voting and participation inthe AGM through VC:(i)Login method for remote e-voting for individualmembers holding securities in demat mode:In terms of Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020 issuedby the SEBI on the e-voting facility provided bylisted companies and as part of increasing theefficiency of the voting process, e-voting processhas been enabled to all individual shareholdersholding securities in demat mode to vote throughtheir demat account maintained with depositories/websites of depositories/depository participants.Members are advised to update their mobilenumber and e-mail ID in their demat accounts inorder to access e-voting facility. Following is thelogin method for remote e-voting for individualmembers holding securities in demat mode:
Statutory ReportsCorporate OverviewType of membersFinancial StatementsAnnual Report 2020-21Login MethodIndividual members (i)holding securities indemat mode withNSDLUser already registered for IDeAS facility:(a)Visit URL: https://eservices.nsdl.com(b) Click on the “Beneficial Owner” icon under “Login” under ‘IDeAS’ section.(c)On the new page, enter User ID and Password. Post successful authentication, click on“Access to e-voting”(d) Click on company name or e-voting service provider and you will be re-directed toe-voting service provider website for casting the vote during the remote e-voting period.(ii)User not registered for IDeAS e-Services:(a)To register click on link : https://eservices.nsdl.com(b) Select “Register Online for IDeAS” or click Reg.jsp(c)Proceed with completing the required fields.(d) Follow ste
the first and only airline to operate non-stop flights on several routes, Pune-Darbhanga, Pune-Durgapur, Pune-Gwalior, Pune-Jabalpur, Pune-Varanasi, Kolkata-Darbhanga, Chennai-Jharsuguda and Nashik-Kolkata. We added Chattogram in Bangladesh to our international network, Ranchi to our domestic network, and Nashik and Darbhanga as UDAN destinations.
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