Usha Martin's Unwavering Trust: Rajeev Jhawar's Five-Year Managing Directorship

In accordance with the stipulations outlined in Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a recent communication has been disseminated concerning alterations to the Board’s composition. It has been formally announced that Mr. Rajeev Jhawar, who has proficiently held the position of Managing Director at Usha Martin till the present juncture, has been reappointed to serve in this capacity for an extended tenure of five years.

Rajeev Jhawar Usha Martin ,boasts a distinguished profile as an accomplished industrialist hailing from India, possessing an extensive track record of over three decades characterized by strategic management acumen. His professional trajectory commenced as a Senior Vice President (Commercial), which subsequently culminated in his ascension to the role of Managing Director at Usha Martin Limited in the year 1998.

Managing Director at Usha Martin-Rajeev Jhawar

Mr. Jhawar’s educational pursuits encompassed academic enrichment at prestigious institutions including Ranchi University and the esteemed London Business School. His leadership tenure spanning thirty years at the helm of the Usha Martin Group has been punctuated by fostering exponential growth, instating a culture of meritocracy, and augmenting value for all stakeholders involved. His discernible leadership prowess, shrewd business acuity, profound comprehension of corporate administration, and astute strategic decision-making capabilities have collectively propelled the Usha Martin Group towards an elevated trajectory of growth and advancement.

It remains evident that Mr. Rajeev Jhawar stands as the bedrock of Usha Martin Limited, offering unwavering support during periods of prosperity and adversity alike, thereby guiding the organization towards its current stature of success. The resounding achievements of Usha Martin Limited are intrinsically linked to Mr. Jhawar’s unyielding resolve and steadfast commitment to the enterprise’s objectives. Under his resolute guidance, the company’s forthcoming prospects appear notably promising, positioning Usha Martin Limited as a preeminent global leader within the wire rope sector, poised to achieve significant milestones.

The reaffirmation of Mr. Rajeev Jhawar’s designation as Managing Director, as stipulated by Director Identification Number (DIN): 00086164, spans a comprehensive term of five years, commencing from the 19th of May, 2023. This reappointment remains contingent upon the acquisition of requisite approvals as mandated by pertinent legal frameworks. The formal announcement emanated from Usha Martin Limited following the endorsement of the Nomination and Remuneration Committee, subsequently ratified by the Board of Directors during their convened session on the 27th of April, 2023.

17 killed as under-construction railway bridge collapses in Mizoram

Several others are feared trapped at the site, as 35-40 workers were present when the incident occurred around 10 am.

An under-construction railway bridge collapsed near Sairang, Mizoram, August 23, 2023.

GUWAHATI: An under-construction railway bridge over the Kurung River in Mizoram collapsed on Wednesday around 9:30 am, killing at least 17 workers.

The incident occurred at Sairang, 25 km from the state capital Aizawl. Several others are feared trapped at the site, as 35-40 workers were present when the incident occurred around 10 am.

“Seventeen persons are confirmed dead. We are waiting for further updates,” Sabyasachi De, who is the Chief Public Relations Officer of Northeast Frontier Railway, told this newspaper.

Mizoram Chief Minister Zoramthanga expressed his condolences over the tragic incident. "Deeply saddened and affected by this tragedy. I extend my deepest condolences to all the bereaved families and wishing a speedy recovery to the injured. Sending gratitude to the people who have come out in large numbers to help with rescue operations," he wrote on X (f.k.a Twitter)

Mizoram Home Minister Lalchamliana told the Assembly that around 35-40 workers were at the site when the mishap occurred and 17 of them had died.

Aizawl Superintendent of Police Rex Vanchhawng and a medical team from the health department rushed to the site. Further details are awaited.

The Prime Minister's Office (PMO) has announced an ex-gratia of Rs 2 lakh to the family of those killed and Rs 50,000 would be given to the injured.

BRICS Summit Of Emerging Economies Begins In South Africa

The BRICS nations of Brazil, Russia, India, China and South Africa represent a quarter of the global economy, and interest in joining the group surged ahead of its three-day summit in Johannesburg.

The BRICS leaders at the summit in Johannesburg

Johannesburg: The BRICS summit opened in South Africa on Tuesday as the loosely-defined club of large emerging economies seeks to assert its voice as a counterweight to the Western-led international order.

The BRICS nations of Brazil, Russia, India, China and South Africa represent a quarter of the global economy, and interest in joining the group surged ahead of its three-day summit in Johannesburg.

Security has been bolstered across the city where South African President Cyril Ramaphosa is hosting China's President Xi Jinping, Indian Prime Minister Narendra Modi, Brazil's President Luiz Inacio Lula da Silva and some 50 other leaders.

Russian President Vladimir Putin, who is the target of an international arrest warrant over alleged war crimes in Ukraine, did not attend in person and addressed the summit via pre-recorded video.

Russia will be represented in Johannesburg by Foreign Minister Sergei Lavrov.

China is the BRICS most powerful economy and Xi's state visit to South Africa, just his second international trip this year, comes as Beijing pushes to rapidly expand the group's membership.

"Now as friends and BRICS partners, we stand together in our shared objective and quest for a better and more egalitarian world," said Ramaphosa in Pretoria at the opening of Xi's visit.

Spotlight on Ukraine

Representing 40 percent of the world's population, and democratic and authoritarian states at varying levels of economic growth, the BRICS nations share a common desire for a global order they see as better reflecting their interests and rising clout.

BRICS is also championing its own development bank as an alternative to the World Bank and International Monetary Fund, and proposals to reduce the use of the US dollar in global trade.

"We are only saying that we exist, we are organising ourselves, and we want to sit at the negotiating table on an equal footing with the European Union, the United States or any other country," Lula said in a social media post on Tuesday.

The theme of its 15th summit is "BRICS and Africa" and comes as the continent emerges as a renewed diplomatic battleground with the United States, Russia and China jostling for influence.

The summit has underscored divisions over the war in Ukraine and the support Russia enjoys from its other BRICS partners at a time of global isolation.

South Africa, China and India have not condemned Russia's invasion while Brazil has refused to join Western nations in sending arms to Ukraine or imposing sanctions on Moscow.

Ahead of the summit, Ramaphosa said his country would "not be drawn into a contest between global powers".

In a park near the summit venue, two dozen protesters held up blue and yellow Ukrainian flags and placards reading "Go home Lavrov".

'Importance, stature, influence'

The bloc began as four nations in 2009 but expanded the following year with the addition of South Africa.

Officials say more than 40 countries have shown interest in joining from across the 'Global South', a broad term referring to nations outside the West.

Like the BRICS themselves, these countries run the gamut and include traditionally non-aligned nations like Indonesia and others that are openly hostile to the United States and its allies, like Iran.

"It goes to show that the BRICS family is growing in its importance, in its stature and also in its influence in the world," said Ramaphosa.

South Africa will present BRICS leaders with a proposal to expand its membership.

But the issue divides China and its regional rival India, which is wary of Beijing shaping the forum to suit its own geopolitical agenda as it competes for global influence against the United States.

Russia and South Africa back expansion while Brazil's Lula said on Tuesday he supported the entry of "several countries" including Argentina.

Analysts say when considering new members, South Africa, India and Brazil must balance a desire for warm ties with China and Russia against the risk of estranging a major trading partner in the United States.