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Chief Editor AN

Jatin Aggarwal

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jatin@bansaltrading.com IPCA

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Technical Advisor GA
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Harish Agrawal
kcplha@gmail.com
Jan - March, 2015
Executive Editor
Jagdeep Singh
e.sec@ipcaonline.com
M: + 91 9873354315

For queries or feedback write to :

IPCA Journal Editor

C/o Bansal Trading Company
605, NDM-1 Netaji Subhash Place,
Pitampura, New Delhi 110034 India

Journal
Email: editor@ipcaonline.com
M: + 91 9873354315

From the Chief Editor’s Message

President’s Desk
Dear Members, Don’t Postpone Joy

“We cannot spell S_ccess without” ‘U’! We glorify the busy!

Yes my dear friends! We cannot spell the word “Success” without “U” This short We look upto a person who is a winner and is busy like hell. Somewhere the
anonymous quote reminds us about a lot of things in our life. Every one of us parents are pleased to see the daughter or son moving out of the house early
wants success in personal and professional life and we definitely strive to morning and returning all tired to crash in bed. Perhaps the wife “respects” a
achieve it. But if we think of our success, we should think about the role others husband who is too busy to talk on phone or for a few of us, in
play in our success. In the success of IPCA - the greatest resource is that of our person. Few of them display a lot of joy when we talk about work and our latest
members and their inspiration to deliver. The secret of the success of last year achievement. Its all about being successful and making a legacy! The earth is
was you and the success of the New Year will also be because of you. round and will always be.

The Government presented a growth oriented General Budget in the month of At times, you can see the twinkle in the eye of this young boy who is punctual
Feb and its new plan for the coming financial year, This government has also and perfect in multitasking. The twinkle is cause he is a go-getter and is getting
made a commitment to make India stronger by promoting “Make in India” and to appreciation from everyone. He juggles ten different assignments at the same
make it a big success. time and pushes himself to accommodate more. He is the blue eyed boy of the
employer and is bound to do well in his job.
We hope it promotes business and trade and helps the sluggish economy to get
back on track to growth. We hope this Govt. removes the unnecessary Lately, I am seeing too many of these achievers around. Work is worship for
bureaucratic bottlenecks in doing business and creates a favourable climate for them and with grit and persistent efforts they achieve the impossible. At times I
start ups and existing businesses. wonder, if the priorities will change for them and when. And I hope it happens
before they burnout or lose their health, family and friends.
I am happy to put before you the second edition of IPCA Journal. This is my
second year in the term as the President of IPCA. I would like to say that we A human being goes from 0-60 years in a flsh. For most of us, it is Job
have passed a very eventful year and the current year will be even more Satisfaction that is primary and not Life Satisfaction. We tend to postpone a
eventful. We have the IPCA Biennial this year at hotel Grand Hyatt, Goa. party with friends, a movie of favourite director, a vacation that we are promising
I promise to make it an event to remember. to ourselves and our family for years, a rejuvenating lazy day on a scenic beach
and many mundane “good things” in life cause we don't have time and it is
Last year we had Ghaziabad and Ludhiana knowledge Sharing Seminars, and easier for us to postpone it to some other day.
we opened the Lucknow/Kanpur region with KSS. We took a Delegation to
China Coat Show in December 2014. Life becomes beautiful by small joys that we treasure every day. Problem is to
make a balance between work, family and those small sweet nothings that
Resolve, evolve and involve is the mantra with which I started my tenure in pamper and rejuvenate us. Wont it be great if we can get a single key to all of
IPCA last February. Our resolute resolve of doing more programs and thus these?
evolving into a more interactive association while involving more & more
members is bearing fruit. IPCA is offering you the key!

Let’s hope we become one of the premier coating associations in India and GOA, Business in the lap of pleasure, Don't Postpone Joy!
forge ahead by leaps & bounds.
Regards
Regards

Sanjeev Gupta Jatin Aggarwal

Registered Office: Website: www.ipcaonline.com

Indian Paint & Coating Association Email: info@ipcaonline.com
M-190, G.H.K. Nagar, Paschim Vihar, New Delhi - 110087 1
Registered under Companies Act Contact IPCA Secretariat
CIN Number: U74999DL2003NPL121868 M: + 91 9873354315
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Ludhiana Knowledge Sharing Seminar

Hotel Park Plaza, 8th August, 2014
Ludhiana, Punjab

IPCA Ludhiana Knowledge Sharing Seminar was held on 8th of August, 2014, at Hotel Park Plaza, Ludhiana. This was a successful
residential event that brought our coating fraternity together for mutual support, technical education, and business networking. It was
attended by over 250 paint manufacturers, traders, raw material manufacturers, paint machinery manufacturers, etc. from Delhi, Karnal,
Jalandar, Ludhiana, Amritsar, Chandigarh, Mumbai and other surrounding regions. Ludhiana was chosen as the venue because it the
Industrial hub for architectural coatings.

The day started off with Registration and tea. Once the registration was over, the inaugural ceremony kicked off. Present on stage were the
dignitaries of the central body Mr. Sanjeev Gupta, President, and Mr. Jatin Aggarwal, Vice President. Also present on the stage were IPCA
Haryana Region Chairman Mr. Prashant Karwa, Convener Mr. Ashish Aggarwal, Co-convener Mr. Shashank Khandelwal, our special Guest
of Honor for the day Mr. Jai Gopal Goyal, Shakti Coatings and Keynote Speaker, Mr. Dilip Raghavan, Editor Paint India.

The auspicious event started off with the lighting of the lamp. Light symbolizes knowledge while darkness represents ignorance. Knowledge
removes ignorance just as light removes darkness. Knowledge is a lasting inner wealth by which all outer achievement can be
accomplishedwhich was exactly the mission of our Seminar. The dignitaries present on stage did the honors including members of the
Central Body Mr. Ashwani Mehra, General Secretary and Mr. Sagar Goyal, Finance Secretary and Patrons, Mr. Anil Khanna, Mr. Vinod
Karwa, Mr. Ashok Gaind, and Mr. Amit Mishra.

Mr. Ashish Aggarwal gave a warm welcome to the delegates present. Mr. Sanjeev Gupta presented the audience with the formal Presidential
Address. In his speech, he said: “It is an appropriate time to renew contacts and discuss things of mutual interest with members. As you may
all already know, this seminar is organized keeping in mind the needs and requirement of our esteemed members. IPCA is an association
wherein the needs of the members are kept in mind and programs are organized accordingly. We have resolved to organize such seminars,
through which IPCA will continuously evolve as a fruitful Association. Hopefully, we will keep our members constantly involved, such is our
endeavor!” He also stressed upon the slogan for IPCA 201416: Resolve Evolve Involve.

Mr. Jatin Aggarwal then gave a presentation on past IPCA Activities. He also elaborated on the Action Plan for future activities and gave a
brief on how IPCA has been successful in adhering to the Action Plan as much as possible. The Action Plan was well received and the
audience applauded the endeavors of IPCA to provide special attention to its members.

The Keynote address was given by Mr. Dilip Raghavan Editor Paint India. In his address he stressed that the Paint Industry is big enough for
multiple players to survive. He pointed out the need to understand the applications in various kinds of industries and find our niche and create
our own space. The keynote address was very inspiring and motivating. It set the tone for the rest of the day.

The first technical session was by Dr. Anil Bansal, General ManagerTechnology, 20 Microns Ltd. His topic: “High Performance and Cost
Effective Specialty Product for Coating Industries” paved way for an interesting, interactive session. The Session was chaired by Mr. V.P
Ahuja, Indogem Enamels and Mr. Mayank Goel, Sharp Coatings.

The next session by Mr. Suresh Yadav, Technical Service Manger (Dispersions & Resins) Wacker Chemie India Pvt. Ltd, was visually
stimulating, as the speaker offered an intense presentation. The topic “Next generation VAE emulsion for Decorative & Fire Proof Coating”
was well received. The session was chaired by Ms. Pooja Sharma, Indian Aerosols Pvt. Ltd. and Mr. A.K. Tripathi, Paramount Powders.

This session was followed by a Hi Tea break, in which the delegates got a chance to intermingle with each other. The delegates assembled
duly after the break for another, energy filled technical session. The third technical session of the day covered the subject matter of “Environ
Friendly Coatings - Powder Coating, Water Based Acrylic & PUD and High Solid Polyols”. The speaker, Mr. Samir Mukherjee, from DSM
Coating Resins, gave a riveting presentation on the issue at hand. This session was chaired by Mr. Birender Singh, Karna Paints and Mr. S. C.
Jain, Micro Powder Tech.

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The fourth technical presentation of the day, by Mr. Harish Chandak, Lead Technical Service Representative, Dow Chemical International
Pvt. Ltd. provided an insight to water based Industrial and wood coatings. This session was chaired by Mr. Amit Kaushik, Nivera Paints and
Mr. Sagar Goel, Annu Chemicals.

The final technical presentation of the day, by Mr. Allen Menezes--Area Sales ManagerIndia, Cardolite Specialty Chemicals India LLP,
covered the subject area of New Generation CNSL Based Epoxy Curing Agents. The final session was chaired by Mr. Ashwani Mehra, Sunlac
Paints Ltd. and Mr. Satish Gupta, Haryana Coatings.

Tokens of appreciation were presented to the speakers by the dignitaries of IPCA.

An Open House Session followed the Technical Sessions. The open house session started with Mr. Jatin Aggarwal giving a brief outlining the
focus :- Aim of the open house session. Present on the stage for the Open House were--Mr. Kesavaram, Saboo Coatings; Mr. Samir
Mukherjee, DSM Resins; Mr. Vinod Karwa, Victor Paints India; Mr. Ashok Gaind, Acro Paints Ltd; Mr. Dilip Raghavan, Editor Paint India; Mr.
Rohan Bhasin, Akross Synthetics Pvt. Ltd.; and Dr. Nazimuddin, Shakti Coatings. Mr. Jatin Aggarwal was the moderator for this session. The
audience asked questions on a variety of diverse topics and chemistries. We had the best of the brains in the Industry to answer the questions
put forward by the audience. The Open Hose Session was interactive and well-received by everyone.

Then came the time to felicitate our sponsors. We, at IPCA, are very appreciative of our sponsors and always make sure we show our
admiration to them. Tokens of appreciation were presented to them. List of sponsors

After the felicitation of the sponsors, it was time to honor the organizers of the seminar. Mr. Ashish Aggarwal (Ashish Polymers) and Mr.
Shashank Khandelwal (Chemtech India) were commended for their hard work and commitment in organizing and executing this seminar.
They were given tokens of appreciation by IPCA. The Vote of Thanks was given by Mr. Shashank Khandelwal. In his vote of thanks, he warmly
expressed his appreciation for the sponsors and the organizing team.

Overall, it was a very informative, interactive and a highly successful seminar where the best of speakers made their presentations on topics
of technical interest and management aspects. The Members of the Apex, Central and Regional Committees then gathered together for a
group photo session. The delegates intermingled with each other over drinks and dinner.

Ms. Aishwarya Kalyan, Lighting of the Lamp IPCA

Executive Secretary (L-R): Mr. Jai Gopal Goyal, Central Committee
Mr. Vinod Karwa,Mr. Anil Khanna, and Apex Committee
Mr. Surinder Duggal

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President Mr. Sanjeev Gupta Convener Mr. Jatin Aggarwal, Mr. Dilip Raghavan
presenting the formal Mr. Ashish Agarwal Vice President IPCA presenting
Presidential Address addressing the audience the Keynote Speech

Open House Session Dr. Anil Bansal, Speaker, Mr. Suresh Yadav, Speaker,
General Manager–Technology, Technical Service Manger
20 Microns Ltd. (Dispersions & Resins)
Wacker Chemie India Pvt. Ltd

Mr. Samir Mukherjee, Mr. Harish Chandak, Speaker, Mr. Allen Menezes, Speaker,
(Middle) Speaker, Lead Technical Service Representative, Area Sales Manager–India,
DSM Coating Resins Dow Chemical International Pvt. Ltd. Cardolite Specialty Chemicals India LLP

(L-R) Mr. Ashish Aggarwal, Convener, View of the audience View of the audience
Mr. Sanjeev Gupta,
Shashank Khandelwal, Co-convener
4
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Pitampura, New Delhi - 110 034 Fax : +91-11-27024526 Website : www.annuchem.com

BRANCHES: DELHI, HARYANA, UP

 INDI
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Lucknow Knowledge Sharing Seminar

Hotel Lineage, 20th December, 2014
Lucknow, U.P.

IPCA Lucknow Knowledge Sharing Seminar was held on 20th December, 2014, at Hotel Lineage Gomti Nagar, Lucnow (U.P.). This was a
successful residential event that brought our coating fraternity together for mutual support, technical education, and business networking. It
was attended by over 125 paint manufacturers, traders, raw material manufacturers, paint machinery manufacturers, etc. from Delhi, western
U.P. and other surrounding regions. Lucknow was chosen as the venue because it the Industrial hub for Industrial, OEM and decorative
coatings.

The day started off with Registration and tea. Once the registration was over, the inaugural ceremony kicked off. Present on stage were the
dignitaries of the central body Mr. Sanjeev Gupta, President, and Mr. Jatin Aggarwal, Vice President along with Convener Mr. Pradeep Jain
and Co-convener Mr. Tarun Mittal

Inaugural Sessions:

The auspicious event started off with the lighting of the lamp. Light symbolizes knowledge while darkness represents ignorance. Knowledge
removes ignorance just as light removes darkness. Knowledge is a lasting inner wealth by which all outer achievement can be accomplished
which was exactly the mission of our Seminar. The dignitaries present on stage did the honors including members of the Central Body Mr.
Ashwani Mehra, General Secretary and Mr. Sagar Goel, Finance Secretary and Partons Mr. Vinod Karwa and Mr. Amit Mishra.

Mr. Pradeep Jain gave a warm welcome to the delegates present. Mr. Sanjeev Gupta presented the audience with the formal Presidential
Address. In his speech, he said: “It is an appropriate time to renew contacts and discuss things of mutual interest with members. As you may
all already know, this seminar is organized keeping in mind the needs and requirement of our esteemed members. IPCA is an association
wherein the needs of the members are kept in mind and programs are organized accordingly. We have resolved to organize such seminars,
through which IPCA will continuously evolve as a fruitful Association. Hopefully, we will keep our members constantly involved, such is our
endeavour!” He also stressed upon the slogan for IPCA 2014 -16 : Resolve Evolve Involve.

He also declared the Lucknow/Kanpur region of IPCA OPEN & nominated Mr. Pradeep Jain as the Founder Chairman. Mr. Pradeep Jain then
introduced the new team of Kanpur/Lucknow region to all members. Senior members of IPCA central committee pinned the IPCA pin on the
new members & welcomed them. Mr. Jain also spoke on the organizing part of the seminar & thanked delegates for making it a big success.

Mr. Jatin Aggarwal then gave a presentation on past IPCA Activities. He also elaborated on the Action Plan for future activities and gave a
brief on how IPCA has been successful in adhering to the Action Plan as much as possible. The Action Plan was well received and the
audience applauded the endeavours of IPCA to provide special attention to its members.

Technical Sessions:

The first technical session by Mr. Shobhit Srivastava of M/s K-Tech India Pvt. Ltd, was visually stimulating, as the speaker offered an intense
presentation. The topic “Paint Additives” was well received, Coating Additives are special chemical substances that are added in small
quantities to bridge coating material chemistries to improve and modify certain properties of the coating to enhance its performance. The
Session was chaired by Mr. Pradeep Jain and Mr. Suresh Singhal.

This session was followed by a Hi Tea break, in which the delegates got a chance to intermingle with each other. The delegates assembled
duly after the break for another, energy filled technical session.

The next session by Mr. Manas Agarwal, Director M/s Manali Pigments Pvt. Ltd on the topic “Lead Chromates Truly High Performance
Pigments” was well presented. Paint has four major components: pigments, binders, solvents and other additives. Pigments serve to give
paint its colour, texture, toughness, as well as determining if a paint is opaque or not. He tired to clear the myths regarding lead in paints and
shared a lot of data to support his arguments. The session was chaired by Rakesh Khandelwal and Mr. Sanjay Shah

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The third technical session of the day covered the subject matter of “Alkyd Resins”. The speaker, Mr. Rohan Bhasin, from M/s Akross
Synthetics, gave a riveting presentation on new innovative alleged reasons. Alkyd resins are part of a large group of thermoplastic resins that
are essentially polyesters made by heating polyhydric alcohol with polybasic acids or their anhydride and used chiefly in making protective
coating and good weathering properties. These resins are useful as film forming agents in paint, varnished and enamels & as thermosetting
plastics that can be moulded into solid objects. This session was chaired by Mr. Ankur Jain and Mr. U.V. Yadav.

Tokens of appreciation were presented to the speakers by the dignitaries of IPCA.

An Open House Session followed the Technical Sessions. The open house session started with Mr. Jatin Aggarwal giving a presentation
outlining the merits of the Seminar. Present on the stage for the Open House were Mr. Vinod Karwa, Mr. Amit Mishra & Mr. Ashwani Mehra.

Mr. Jatin Aggarwal was the moderator for this session. The audience presented their questions regarding G57 & ib effects on modis of
operandities of MSME, changes in company law board in the technical matter . We had the best of the brains in the industry to answer the
questions put forward by the audience. The Open House Session was interactive and well-received by everyone. On stage Mr. Vinod Karwa,,
Mr. Y. P. Jain, Mr Ashwani Mehra, and Mr. Amit Mishra,

Then came the time to felicitate our sponsors. We, at IPCA, are very appreciative of our sponsors and always make sure we show our
admiration for them. Token of appreciation were presented to them. Name & Sponsors

After the felicitation of the sponsors, it was time to honour the organizers of the seminar. Mr. Pradeep Jain ( M/s Kumar Rotoflex, Kanpur) and
Mr. Tarun Mittal (M/s Usha Paints, Agra) were commended for their hard work and commitment in organizing the executing this seminar. They
were given tokens of appreciation by the IPCA President Mr. Sanjeev Gupta. The vote of thanks was given by Mr. Tarun Mittal, Chairman,
Western U.P. Agra Region. In his vote of thanks, he warmly expressed his appreciation for the sponsors and organizing team.

Overall, it was a very informative, interactive and a highly successful seminar where the best of speakers made their presentations on topics
of technical interest and management aspects. The members of Apex, Central and Regional Committees then gathered together for a group
photo session. A scintillating musical performance “Sufi Night” was a special treat for the guests who enjoyed it fully.

Mr. Sanjeev Gupta Mr. Jatin Agarwal Mr. Manas Agarwal Mr. Rohan Bhasin
giving his Presidential address. addressing the audience Director Manali Pigments Pvt. Ltd Director Akross Synthetics Pvt. Ltd
giving his Technical presentation on talking about “Alkyd Resins”
Lead chromates in technical presentation

Mr. Shobit Srivastava, Director, Mr. Sanjeev Gupta President IPCA BONHOMIE (L-R) Mr. Deep Batra, A view of the audience
K-Tech India Pvt. Ltd., presenting the momento to Mr. Girish Jain, Mr. Jatin Agarwal,
giving his technical presentation Mr. & Mrs. Pradeep Jain & Mr. Ankur Jain Mr. Pradeep Jain, Mr. M.M. Agarwal,
on "Paint Additives" of M/s Kumar Rotoflex, Kanpur Mr. Sanjeev Gupta and Mr. Manas Agarwal

7
 Your wait is finally over!
The Indian Paint & Coating Association is back
with a much bigger, better and definitely more
colourful conference than ever before!
Get set and save the date for the
IPCA Biennial Conference at the one
and only Grand Hyatt, GOA!

We look forward to seeing you there!

JUNE 16-19, 2015,
GOA, INDIA
Stay at one of the most awarded hotels

GRAND HYATT, GOA

GRANDEUR AT ITS BEST

2014 Best Spa Interiors (Hotel & Resort) - Asia-Spa India Awards
2014 Best MICE Luxury Hotel - Goa Food and Hospitality Awards
2013 Best Luxury Family Hotel - World Luxury Hotel Awards
2012 Best New Hotel - Conde Nast Traveller (US) Hot List
2012 Favourite New Hotel India (#1) -
Conde Nast Traveller India Reader's Travel Awards

2012 Best New Hotel (#1) - Travel + Leisure India's Best Award

For more details, please contact:

Mr. Rohan Bhasin, Convener,

Conference Secretariat:, C/o: Akross Synthetics Private Ltd.
P-4/1, Site-B, Surajpur Industrial Area, Greater Noida,
Uttar Pradesh - 201306, India
M: +91 9810508303, +91 9910060873, E: convener2015@ipcaonline.com
e-mail: info@ipcaonline.com www.ipcaonline.com
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SHALE GAS
By Vishwa Mohan Mishra, Asst. Consultant, PNGRB

Shale gas was first extracted in Fredonia, New York in 1821. George P. Mitchell is regarded as the father of the shale gas industry by making it
commercially viable. Since then shale gas has been the fastest growing contributor to total primary energy in U.S. The discovery of Shale gas
in U.S. has not only transformed the natural gas market of U.S. but also had had a significant influence on the global oil and gas market. U.S.
which historically used to be one of the largest importers of LNG has now become self sufficient because of abundance of shale gas. Shale
usage in US & Canada and weakening of economies in Asia & Europe has led to sudden fall in oil demand. While the recent trend of
decreasing crude oil prices is considered beneficial for importing nations like India, China & Japan, it has also caused havoc for oil producing
nations. So, what is this shale gas and how is it related to the recent crash in global crude oil prices? Let's understand…

What is Shale Gas?

Shale gas refers to the natural gas that is entrapped within shale formation. Shale formation refers to sedimentary rocks and can be a very rich
source of petroleum and natural gas. Sedimentary rocks, for example sandstones, limestone and shale, are found throughout the world and
contain natural gas deposits. Shale formations have low permeability and require stimulation techniques to economically produce shale gas.
The shale gas is thus considered an unconventional gas like tight gas obtained from sandstones or limestone and coal bed methane.

Shale gas can be produced from vertical and directional wells. However, due to low permeability of shale formations, horizontal drilling and
stimulation techniques such as multi-stage hydraulic fracturing is are often required to achieve economic production.

The picture alongside elaborates how shale gas is extracted from shale using a mixture
of sand, water and chemicals. Approximately, 7-15 million L of water is used per well. 50-
70% of the water is recovered. The remaining water stays in the ground. The recovered
water is contaminated with chemicals and salts from the rock formation and is either
transported or directly disposed in treatment facilities. The process of exploitation of
shale gas can affect the environment through leaking of extraction chemicals and waste
into water supplies, leaking of greenhouse gases and is thus not considered
environmental friendly at all.

Shale gas can be produced from vertical and directional wells. However, due to low
permeability of shale formations, horizontal drilling and stimulation techniques such as
multi-stage hydraulic fracturing is are often required to achieve economic production.
GRAPHIC BY AL GRANBERG, ProPublica

Effect of Shale Gas on Global Oil & Gas Market

For much part of the last decade the oil prices were around $100 per barrel.
Oil prices were rising because of the growing demand from developing
countries like India and China. Prices hovered around 100$ per barrel
between 2011 and 2014.With increasing oil prices, extracting oil from difficult
to drill places became feasible and companies in U.S started using fracking
and horizontal drilling for extracting shale gas & the associated oil known as
“tight oil” from Shale formations.

Shale gas can be produced from vertical and directional wells. However, due
to low permeability of shale formations, horizontal drilling and stimulation
techniques such as multi-stage hydraulic fracturing is are often required to
achieve economic production.

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Gradually the specific type of fracturing for shale, combined with horizontal drilling was perfected and its impact on US energy supply became notable.
Currently, shale gas accounts for 44% of total U.S. natural gas production. Tight oil boosted oil production resulting in output larger than the total
output of each of eight of the 12 OPEC countries.US, which was earlier importing large volumes of LNG stopped LNG imports thereby saving $100
billion on its oil imports.

Extraction of tight oil from US had little effect on global prices. Civil war in Libya and sanctions on Iran from US and European Union pinched their oil
exports and thus the oil prices were stable. In July 2014, two export terminals i.e. Es Sider and Ran Lanuf were open up thereby increasing Libyan
exports. With slow economic growth, oil demand in Asia and Europe began weakening becoming stagnant in other parts of the world. The weakening
demand and rising supply caused oil prices to drop. Oil prices which were hovering at around $115 a barrel in June 2014 dropped to $52-53 a barrel by
December.

With the downward trend of oil prices it was expected that OPEC, a group of oil producing nations that provides for about 40 percent of world's oil,
would intervene and would take steps to arrest the falling trend. At a crucial meeting held in November 2014, OPEC countries decided not to reduce
production. In the 1980s, when the oil prices were falling, Saudi Arabia cut production in order to prop prices. However, the declining trend of prices
continued and the step taken by the country only resulted in loss of market share. Thus, despite the fact that countries like Venezuela & Iran wanted
OPEC to cut back on production, no such step was taken signaling further that Saudis can live with lower prices in short term.

The oil prices have been falling since and Brent crude price had tumbled below $55. A price war has started between OPEC countries and US. For
countries like Iran and Venezuela oil prices below $100 is resulting into imbalance in their budgets and shrinkage of economy. It is expected that if the
prices stay below $60 then next year it would result in loss of GDP for Russia. For US lower oil prices would result in lesser expense on oil by citizens
and would provide more money to spend elsewhere. Thus, despite being bad for oil producing states like Texas and North Dakota, lower prices would
provide an economic boost to US. Being an oil importing country, the same is expected for Indian economy.

The emergence of shale & tight oil in the US demonstrate how innovation can change the global economic balance and political power. How long this
trend would continue is not known, but as of now we can surely believe that the Middle East would continue to be an arena of great geopolitical
importance and its oil will remain essential to the functioning of global economy in future.

Author: Vishwa Mohan Mishra, an energy enthusiast, based in Delhi, specialization in petroleum and energy management & world oil and gas
market developments. He is an assistant consultant at Petroleum and Natural Gas Regulatory Board (PNGRB).

CHINA COAT

Chinacoat is a must visit and one of the Super Coating Shows in the world is being organized since 1996 and alternates annually between the venues
in Guangzhou and Shanghai, P.R. China which is an effective and important trade platform for the global coatings Industry.

IPCA also lead a successful delegation to this mammoth show held from 02nd to 08th December 2014 at Guangzhou, China. The members had
interactions with delegates and business representatives from China and around the world and had chance to experience the ample display of
innovative products and services, business strategies, trade and technology, and above all had a chance to see the rapid transforming face of Paint
and Coating Industry and ever expanding horizon of the business from new products and services.

10
 India’s Leading Distribution Channel

Arkema Chemicals India Pvt. Ltd. Resins

Alpha Chemie Driers

Anupam Colours Pvt. Ltd. Pigments

Bentec Organoclays Pvt. Ltd.

Organoclays

Dura Chemical Corporation Ltd.

Driers

Fine Organic Industries Additives

Fullmoon Indl. Ceramics Pvt. Ltd. Grinding Media

CPS Color India Pvt. Ltd. Tinting Systems

Anuvi Chemicals Ltd. Emulsions

Bansi Lal & Son Amino Resin

Ganga Rasayanie Pvt. Ltd.

Solvents

Carbon Black Carbon Black Carbon Black

794, Joshi Path, Karol Bagh, Tele fax :-+91 11 23677686 Email: amitmishra@anuradha.co.in
New Delhi -110005 INDIA :-+91 11 23670061 sushilmishra@anuradha.co.in
:-+91 11 45070101 sales@anuradha.co.in
:-+91 11 41545575 Website: www.anuradha.co.in

Serving the Surface Coating Industry for Three Decades

 INDI
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PA
INT & COA
IPCA
N
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KNOW THE LAW

IN
GA AT
SSOCI

Section 138 : Retrospective Changes that Break the Backbone of Business

Honourable Supreme Court has Dumped the Burden of the Incompetencies of the Indian Judicial System on the Victims of Cheque Dishonour Cases.
In what could be seen as an acceptance of the failure of Indian Judicial System (If at all there was any system that supports business), the Supreme
Court has retrospectively changed the Section 138 inder the Negotiable instruments Act that now makes it very difficult for a victim of cheque
bouncing case to recover money.

In this case, the Supreme Court has changed the basic criteria under Section 138 of Negotiable Instruments Act which is to prosecute a person who
had issued the cheque which had been returned due to insufficiency of funds or if the amount exceeds the amount in the bank of the payer.

Earlier, a case under SEction 138 could be initiated by the h older of the cheque at his place of business or residence. But, a bench of justices TS
Thakur, Vikramjit Sen and C Nagappan ruled that the case has to be initiated at the place where the branch of the bank on which the cheque was
drawn is located.

And the judgment would apply retrospectively. This means, lakhs of cases pending in various courts across the country would witness a interstate
transfer of cheque bouncing cases.

Example: Mr. X who resides in Chennai owes Rs. 1 Lakh to Mr. B who resides in Chandigarh, Mr. X issues a cheque in Delhi in favour of Mr. B. The
cheque bounce in Ludhiana (place of bank where the cheque is given by Mr. B) for insufficiency of funds.

According to the earlier law Mr. X could have chosen any of the four places. But by the recent judgment the only place for institution of case would be
Ludhiana, i.e. where the cheque has dishonoured at the payee bank which is located in Ludhiana in the example.

Reason for passing the new law?

Majority Businessmen are giving extending credit recklessly and are not cautious.
It is a hassle for Issuer of the Cheque as he has to travel to place where the case is filed.
The real reason are:
The courts were getting jammed with section 138 cases and with the one "master stoke" major metros, where majority of such cases are filed,
have been cleared of some 40,00,000 cases.
Courts saw that financing companies (like car financing companies) were filling thousand of cases and making sure that the cheque issuer pays
under section 138.
They want to make it so difficult for the victim to file a case and pursuit it, that the victim does not trouble the court and hence reduce the number
of cases. Similar to a Thanedar when he refuses to file an FIR due to some lame excuse.
Frankly, a case filled under Section 138 is the cheapest in cost, so now one has to file a Civil Suit with court fees or an FIR or under 420.
Court finds it easy to hassle the victim, delay and perhaps deny him justice than giving the trouble of travel to a defaulter who has committed a
crime under Negotiable Instruments Act.

Imagine a Paint manufacturing company that sells to dealers in small villages in North East and Bihar and as a security take cheques of 50K-1L. Any
such company shall think twice before accepting PDC as a mode of payment or might have to hire lawyers in every District/City of India. The cost of
recovering 50K-1L for a company/supplier in Mumbai from a defaulter in Lucknow, hall be heigher that the actual amount due.

Imagine going to a remote part of India to recover money from a defaulter who is a local resident of that small city and knows everyone from police,
politicians and judiciary. Frankly, how many times will one go for recovery and at what cost>

The courts are oblivious and indifferent to the way business works in India. In India most of the business is done on free flow of credit. Letter of Credits
and Documents through Bank are expensive means and cannot be used for smaller transactions and now they have made PDCs a mere formality in
interstate transactions.

Once again, a law has been passed without consultation with the industry or trade bodies and by making it retrospective they have shown total
disregard for victims. We hope that sense prevails and measures are taken that support fearless and unrestricted business, including making a full-
proof payment mechanism for flow of materials and services on credit.

Article by:
Jatin Aggarwal, VP, IPCA
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 INDI
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INT & COA
IPCA
N
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KNOW YOUR FRATERNITY

IN
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SSOCI

We got an opportunity to Interview Mr. Jayakumar Krishnaswamy, a progressive business leader and MD of AkzoNobel
India Ltd. Read on to know more about him and the company.

About the Company:

AkzoNobel India is a leading paints and Coatings Company and a producer of specialty chemicals. We supply industries
and consumers with innovative products and are passionate about developing sustainable answers for our customers.
Jayakumar Krishnaswamy
Our portfolio includes well-known brands such as Dulux, Sikkens, International and Interpon.
MD
AkzoNobel India Ltd.

Date of Birth : 3rd December, 1965 Sun Sign : Sagitarius Place of Birth : Chennai Home Town : Tamil Nadu
School/College : Delhi College of Engineering, Delhi University
First Success/Job : Started working with Brakes India Ltd, Chennai
High Point of your Life : … Meeting my wife Tulsi has been the highest point of my life.
Low Point of your Life : None. There have been low points, but not worth mentioning.
Currently you are… Managing Director, Akzo Nobel India Ltd.
If you weren’t in the Paint Industry, you would have been… I would have been in Hindustan Unilever. That’s where I was working before switching over to
Akzo Nobel.
A Paint/Coating company you admire the most and Why? Akzo Nobel India for its innovation in technology and commitment to sustainability agenda.
Who is your greatest inspiration? Number of People – Mahatma Gandhi for his never say die spirit, Mother Theresa for her Kindness, The Book Alchemist
for its Optimism, and of course the multitude of people who have overcome personal hardships and succeeded in life…
Whom do you consider your biggest competition? Anyone who can do things better than us is a competition.
What is your leadership mantra? “Walk the Talk", lead from the front, hold self and others accountable and lastly come from a contribution space and not a
control space.
In times of crisis, how does a leader motivate his staff? Rub shoulder to shoulder and set an example to follow. Never droop shoulders and lead from the
front.
What has been your most difficult call/decision till date? Many. Some of the calls I had to take in the various roles I have handled have been tough, but I
am happy that all of them have been fair…
What advice would you give someone taking a leadership position for the first time? Lead by example, own up to the decisions you take, and never be
afraid of calling a Spade a Spade.
What is your definition of success? As a Long Distance Marathon Runner: Is it Patience or Persistence? It is definitely Persistence, and a “Never say die”
spirit.
Your next milestone/target? There is no ultimate target. It is all relative. The new mile stone appears as soon as you reach the current one that I am
pursuing…
Akzo Nobel is in the forefront of CSR activities through various community services they are active in. Do share your next planned activity with us.
Akzo Nobel’s community service efforts reach out to people across the globe. These endeavours, driven by the heart yet bearing the Company’s characteristic
imprint of excellence, have resulted in several stories of success and fulfillment. Akzo Nobel India works with mothers and children, farmers and NGOs, on a
wide spectrum of issues, encompassing health and hygiene, education, environment and so on.Besides increasing employee integrity and responsibility, these
CSR activities has helped employees take ownership and develop leadership qualities, thus promoting entrepreneurial thinking. And, behind it all, is the backing
of AkzoNobel, an organisation that believes in creating opportunities and changing lives. This is highlighted in its investment in the AkzoNobel Art Foundation,
which supports community programmes and projects around the world; an ongoing one involves art conservation in the ancient monasteries of Ladakh—
another project that comes straight from the heart!

We at IPCA, would like to thank Mr. Jayakumar Krishnaswamy for giving this interview. It is highly appreciated.
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