tata motors talent management

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Tata Motors' Talent Management Fast Track Selection Scheme (A)

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Product Description

Publication Date: July 03, 2015

Source: Ivey Publishing

A chief human resource executive of an automotive company in India, faced with exits of promising employees, was reviewing the efficacy and relevance of the company's 20-year-old high-potential talent identification program in place since 1991. The chief executive was particularly concerned about how well the program met the company's changing leadership needs within the context of a rapidly evolving automotive industry in India in recent years owing to open economy and influx of foreign players in the automotive segment. The challenge facing the executive was how to align the program with the company's organizational strategy to establish a pipeline of successors ready for critical senior roles in a changing business landscape by fostering loyalty and leadership capability of employees.

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DEALER’S INCENTIVE MANAGEMENT AND REVENUE EXPENDITURE BUDGETING. FINAL REPORT 4/15/2011 TATA MOTORS CVBU BY PRIYANKA GOEL – 10BSPHH010562 An Interim Report ON DEALER’S INCENTIVE MANAGEMENT & REVENUE EXPENDITURE BUDGETING BY PRIYANKA GOEL (10BSPHH010562) A Report submitted in partial fulfillment of the requirements of MBA program of ICFAI Business School, Hyderabad Submitted To Mr. KAMLESH AGARWAL (HEAD (ACCOUNTS),TMLDC MUMBAI CV) Ms ANJALI KANORIA (MANAGER (ACCOUNTS), TMLDC MUMBAI CV) Mr. KAUSHIK BHATACHARYA FACULTY GUIDEAUTHORISATION A report submitted in partial fulfillment of the requirements of MBA Program of IBS Hyderabad With the help of Ms Anjali Kanoria, Manager (accounts), RO-CVBU and Mr.

kamlesh agarwal, Head (accounts). ACKNOWLEDGEMENT The sense of contentment and elation that accompanies the successful completion of this project would be incomplete without mentioning the names of the people who helped me in accomplishing this project, people whose constant guidance, support and encouragement resulted in its realization.I am highly indebted to ICFAI BUSINESS SCHOOL HYDERABAD for providing me with the opportunity to be able to do my Summer Internship in TATA MOTORS-CVBU. My earnest thanks to my company guides, MS ANJALI KANORIA, MANAGER (ACCOUNTS), for her valuable guidance and support in ensuring me a free hand during the course of the work. Heartfelt thanks to all the staff members of TATA MOTORS who patiently helped me through out this project, always supported my ideas and for having been my inspiration in every other venture, even though it stole much time of their busy schedule.

I owe much to my faculty guide Prof. KAUSHIK BHATTACHARYA. ICFAI Business School Hyderabad for the inspiration and guidance which enabled me to take up work which made me learn new things and concepts. This project would not have seen the light of the day but for their sustained direction, supervision and continuous encouragement that saw me sail through the difficulties that I faced. TABLE OF CONTENTS 1. EXECUTIVE SUMMARY7-8 PART A: 2.

ABSTRACT9 3. INTRODUCTION10-11 * ABOUT THE COMPANY. 10 * DEALERS11 4. MAIN TEXT12-20 * TYPES OF CLAIMS12-14 Timelines for claim submission & settlement15 * Claim settlement15 * Previous Scenario16 * INITIATIVES UNDERTAKEN TO OVERCOME THE ABOVE DISADVANTAGES. 16 * Current Scenario17 * Automatic monthly off take/retail incentive payouts.

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18 * Online incentive claim tracker. 18-19 * How does this tracker help?? 20 * Different types of frauds undertaken by the dealers20 5. CONCLUSION 21 6. BIBLIOGRAPHY21 PART B 1.

ABSTRACT22 2. INTRODUCTION23-24 * ABOUT THE COMPANY23 * REVENUE EXPENDITURE 24 3. MAIN TEXT25-33 * VARIOUS HEADS OF REVENUE EXPENDITURE :25 OBJECTIVES26 * Factors considered26 * Methodology27-28 * INTERPRETATION AND ANALYSIS29-31 * THEORITICAL FRAMEWORK. 32-33 4. LIMITATIONS34 5. FINDINGS,CONCLUSION AND RECOMMENDATION.

34 6. BIBLIOGRAPHY34 7. ANNEXURE35-41 EXECUTIVE SUMMARY I, PRIYANKA GOEL, student of IBS HYDERABAD have been working for TATA MOTORS –commercial vehicle business unit for my SUMMER INTERNSHIP PROGRAM(SIP).

Tata Motors Limited is India’s largest automobile company It is the leader in commercial vehicles in each segment More than half a century of mpressive presence and Tata Motors continues to provide India with top of the line commercial vehicles. Tata Motors is India’s largest and among the world’s top five medium and heavy commercial manufacturers. The primary objective of undertaking the Dealer’s incentive management is to understand the entire working of the incentive system of the dealer’s. Firstly,I learned about several different types of incentives offered to dealers as a part of the sales promotion incentive and what are the various documents required to claim the incentives.Then I was taught how to go about manually doing the work and all the rigorous document checking process involved before sanctioning any claim by the dealers. Slowly I moved on to know how the CRM-DSM system of incentive management is being bought in to make the processes automatic. Only 2 -3 schemes have been able to be online yet and rest are yet under its way to be automatic.

The ultimate goal is to make the entire process automatic. My recommendations were to make the payment automatic through the system and to improvise on the analytical skills of the present CRM-DSM software which is under use.The project is submitted to the company and a response is awaited. The other part of the project which is Revenue budget management.

The primary objective of this project was to budget the expenses of the financial year 2010-2011 and then analyze it in comparison to various previous years. Firstly, the data related was downloaded from the SAP software of the company. Then it was subdivided into several categories. all the data for the past 6 years has been tabulated and analysed to find out what is the trend.A correlation analysis has also been conducted to establish how correlated are the various expenditures with sales.

Correlation analysis and trend analysis were the major two methods adopted and a conclusion is drawn that the overall revenue budget is seen to be increasing year after year but the most positive thing is that it is increasing at a decreasing rate. The major expenses seems to be under control. The only thing that the management can look into is to reduce some of the small expenditures which are rising at really fast pace such as welfare,security etc.Last but not the least I have tried to portrait my entire 3 months wonderful experience with the help of this report but it’s often said that the best of the experiences can’t be described in words! PART A: DEALER’S INCENTIVE MANAGEMENT ABSTRACT Dealer’s commission is an essential part of the entire process that the company undertakes. The company achieves all its sales activities through its dealers and it compensates them through various incentive schemes on a monthly basis on a regional basis.On the basis of various schemes offered to the dealers they claim their incentives from the company and the company checks for the necessary documentation and their authenticity as there are various frauds and manipulation involved. The documents once cleared it is send to settle the claim.

I am basically involved in that document checking process and then sending it for clearance and also can check in updates in the online tracker. The entire process is very manual in nature and they are trying to integrate it with CRM so I am working in close collaboration to learn the intricacies and come up with valuable suggestions.The company is trying to integrate the entire process into its CRM-DSM system. We are going to use full potential of CRM-DSM to automate the process. Drive for automation of incentive payment to dealer has been taken to expedite disbursal of the same and also to de-risk the entire process. It will be beneficial to the dealers as it would provide quick settlement of incentive and it also prevents blockage of working capital and eliminates paper work in most cases. Another important drive is the online incentive claim tracker.The claims received at RO is recorded in the incentive tracker, the master sheet of the same is maintained at RO.

INTRODUCTION * ABOUT THE COMPANY Tata Motors Limited is India’s largest automobile company, with consolidated revenues of Rs. 92,519 crores (USD 20 billion) in 2009-10. It is the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments.

The Company is the world’s fourth largest truck manufacturer, and the world’s second largest bus manufacturer.More than half a century of impressive presence and Tata Motors continues to provide India with top of the line commercial vehicles. Tata Motors is India’s largest and among the world’s top five medium and heavy commercial manufacturers. We have over 130 models providing a wide variety of commercial transport solutions. A vehicle for every application – you name it we have it! From 2 ton LCVs to 40 ton tractor trailers and buses that can seat 16 people to as many as 67. From Tippers to Special Purpose Vehicles, to 6×4 and 4×4 off road vehicles and Defense vehicles – we cover the entire gamut!Through its subsidiaries, the Company is engaged in engineering and automotive solutions, construction equipment manufacturing, automotive vehicle components manufacturing and supply chain activities, machine tools and factory automation solutions, high-precision tooling and plastic and electronic components for automotive and computer applications, and automotive retailing and service operations.

Tata Motors is committed to improving the quality of life of communities by working on four thrust areas – employability, education, health and environment.The activities touch the lives of more than a million citizens. The Company’s support on education and employability is focused on youth and women. They range from schools to technical education institutes to actual facilitation of income generation.

In health, our intervention is in both preventive and curative healthcare. The goal of environment protection is achieved through tree plantation, conserving water and creating new water bodies and, last but not the least, by introducing appropriate technologies in our vehicles and operations for constantly enhancing environment care.With the foundation of its rich heritage, Tata Motors today is etching a refulgent future. * DEALER’S A car dealership or vehicle local distribution is a business that sells new and/or used cars at the retail level, based on a dealership contract with an automaker or its sales subsidiary. It employs automobile salespeople to do the selling. It may also provide maintenance services for cars, thus employing automobile mechanics, stock and sell spare automobile parts, and process warranty claims. In return to the services provided by the dealers the automaker provides various incentives to the dealers for selling their vehicles.

Tata motors pushes its automobiles through its dealers and their incentives are one of their major marketing tools. Incentive management is a major task at the RO’s. The company is investing in several activities to make it more automatic and it ultimate aim is to integrate all the processes so that the entire work from claiming to payment is done through the CRM-DSM system. TYPES OF CLAIMS Tata Motors CVBU business has a well placed process of giving incentives to Dealer as per their Retail / Off take value to motivate the Dealer users.

Broadly they have four incentive schemes as – 1) Retail Flat – Dealer will get incentive as actual Retail ; incentive amount per vehicle. 2) Retail Target – Dealer will get incentive as per retail Target set by RSM ( RSM can set multiple targets) ; incentive amount per vehicle or as a whole. 3) Off take Flat – Dealer will get incentive as actual off take ; incentive amount per vehicle 4) Off take Target – Dealer will get incentive as per off take Target set by RSM ( RSM can set multiple targets) ; incentive amount per vehicle or as a whole.

Various other claims are innumerated in the screenshot below. Timelines for claim submission ; settlement BY| TO| TIMELINES| DEALERS| AREA OFFICE| WITHIN 7 DAYS OF THE NEXT MONTH| AREA OFFICE| REGIONAL OFFICE| WITHIN 8 DAYS OF THE CLAIM SUBMISSION BY DEALER. | *No claim to be submitted for offtake. *If claims are not submitted within the prescribed timelines,we need the approval of RM to process the same. Claim settlement Category| Timelines | Offtake based| Within 10 days of the end of the month,RO would credit the incentives with proper communication to all dealers.

Other claims| Within 10 days of the receipt of claim at RO,the claims would be processed and status thereof would be uploaded in incentive tracker. | Direct sales commission| Dealer to send service tax invoice within 7 days of intimation from Regional Office. RO to ensure settlement of commission with 10 days of receipt of service Tax Invoice. | Previous Scenario At the beginning of each month, RSM sets the Dealer wise retail ; off-take incentive ; sends a copy to each Dealership proprietor. At the end of the month, they have to manually calculate the incentives to be given to each Dealer.

Major Disadvantages are – * Manual Calculation at the end of each month resulting delay in Payout. * RSM cannot track the effectiveness of the scheme at any moment of time. INITIATIVES UNDERTAKEN TO OVERCOME THE ABOVE DISADVANTAGES. To ensure faster claim settlement,quick reconciliation,better transperancy and communication to the dealers,the following initiatives are undertaken- * Automation of monthly offtake/retail payouts through CRM-DMS*. * Online claims tracker. * Detailed communication on monthly scheme based payouts.

* Online direct sales commission tracker.Current Scenario After deciding the dealer wise incentive, the same needs to be updated in CRM application also. The data updation can be done by simply importing it from the CSV file so that the duplicate data entry can be avoided.

Major Advantages are – * RSM can get the payout report automatically from the System at the month end resulting faster Payout * RSM can track the effectiveness of the scheme at any moment. 1. Enter Campaign Name.

Naming convention “Region-Month’YY-LOB/PPL/PL-Scheme Name” 2. Select Start Date 12:00:00 AM ; End Date 11:59:59 PM 4.Select Category as “ Dealer Incentive” 3. Select Req. LOB/PPL/PL 5. Select req.

Subcategory like Retail-Flat 6. Add the Dealer details with respective T1/T2/T3 ; C1/C2/C3 7. Make Campaign status as “Launched” An abstract of the CRM screen. Built in process: * Creating campaigns for retail and offtake for both target/flat including early bird scheme. * Campaign wise reports given to RSM/RM in analytics.

* Excel functionality to TML user for creating campaigns there by making campaign creation faster ; reduce the manual intervention. Automatic monthly off take/retail incentive payouts.Drive for automation of the incentive payment to dealer has been take to expedite disbursal of the same and also to de-risk the entire process. Benefits to dealers: * Quicker settlement of incentive. * No blockage of working capital.

* Elimination of paper work in most of the cases. Online incentive claim tracker. * Incentive claims master sheet is maintained at RO referred to as “Incentive tracker” * All claims received at RO would be recorded in the Incentive tracker.

* Unique claim reference number(UNRN) would be assigned to all claims based on the dealer/LOB/month/type of claim. Once a claim is settled,SAP document No. would be updated in the tracker. In case a claim is put on hold/rejected,the same with reason would also be mentioned. * AM/TSM would share the tracker with the dealers on request. How does this tracker help?? * All lodged claims can be tracked areawise/monthwise/Dealerwise/LOB wise etc. * Discrepancies in claims can be known and appropriate actions be taken. * SAP Doc Nos.

of settled claims can be viewed online at any point of time. * Status/Pendencies of claims can be ascertained at any point of time. * Accountability for non actions can be fixed.

Different types of frauds undertaken by the dealers There are various types of fradulent activities undertaken by the dealers to pass their falsified claims which I learned while working on the project. They are:- * Falsified sales invoices. * Wrong claims through manipulating the documents like the RC copies and sales deed and then claiming under schemes which have high incentives. * Wrongly claiming the amount with respect to EURO 4 vehicles stating them as EURO 3. * Wrongly claiming in the month they don’t belong to.

CONCLUSION-The road ahead Payout of loyalty/3W exchange schemes to the dealers through system. * Enhancement of analytics reports as per business requirement. Though the checking of documents will always remain manual due to the intricaies of the work. Their major aim is to integrate all the process regarding claim filing to settlement automatic. The entire project has been a great learning experience. PART –B of the project is being taken up during the current phase and due to highly confidentiality of data the clearence of data is taking up time so that will be submitted during the final report.Bibliography The entire data used is from the internal database of the TATA MOTORS.

. PART B:REVENUE EXPENDITURE BUDGETING ABSTRACT Revenue expenditure is an expenditure charged against operation. It is a term used to contrast with capital expenditure. Revenue expenditure is intended to benefit the current expenditure. Tata motors have several such revenue expenditures. The budgeting of these expenses becomes quienessential in tracking and checking down its expenses and also to predict its future expenditures so as to make suitable provisions.Working for the regional office of the east India the expenditures related to east India is my major concern and hence have picked up data in accordance with the cost centers’ of the eastern region.

I have budgeted them and analyzed it using various time series and correlation. Mostly the data relating to specific periods of different accounts has are pooled in together. Firstly the entire revenue expenditure of any particular is sub divided into 19 categories and their trend is analysed over the years.Then the degree of correlation between sales and various other expenses are then checked to see the dependence of sales on various other expenses. INTRODUCTION * ABOUT THE COMPANY Tata Motors Limited is India’s largest automobile company, with consolidated revenues of Rs. 92,519 crores (USD 20 billion) in 2009-10. It is the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments.

The Company’s support on education and employability is focused on youth and women. They range from schools to technical education institutes to actual facilitation of income generation. In health, our intervention is in both preventive and curative healthcare. The goal of environment protection is achieved through tree plantation, conserving water and creating new water bodies and, last but not the least, by introducing appropriate technologies in our vehicles and operations for constantly enhancing environment care.

With the foundation of its rich heritage, Tata Motors today is etching a refulgent future. REVENUE EXPENDITURE : This expenses are done for increasing the sales of the company and hence are revenue in nature . i. e, charged to the accounts of that particular year and not carried forward to future years unlike capital expenditures. Various charts of accounts exists in companies books with reference to these accounts.

The budgeting of these expenses becomes quienessential in tracking and checking down its expenses and also to predict its future expenditures so as to make suitable provisions. Working for the regional office of the east India the expenditures related to eastIndia is my major concern and hence have picked up data in accordance with the cost centers’ of the eastern region. I have budgeted them and analyzed it using various time series and correlation.

* Establish a trend of various expenditures and analyzing it. * To find out the relationship between sales and several other expenditure heads. To look into major fluctuations and find out reasons of increase in expenses. * To come up with suggestions that could help improve the overall scenario. Factors considered * Only the data related to eastern India is taken into consideration for analysis.

* All ledgers are sub-divided into 19 heads based on interrelations between them and some assumptions. Methodology 1. The entire dump of revenue expenditures are downloaded from the SAP software of the company for the past 6 years. 2. Each year there were almost 35000 entries which were subdivided into 19 heads.

3.The subtotals were tabulated and analysed and a trend series analysis is conducted. The term “trend analysis” refers to the concept of collecting information and attempting to spot a pattern, or trend, in the information. In some fields of study, the term “trend analysis” has more formally-defined meanings. Although trend analysis is often used to predict future events, it could be used to estimate uncertain events in the past, such as how many ancient kings probably ruled between two dates, based on data such as the average years which other known kings reigned 4.Next a correlation analysis is conducted.

The goal of a correlation analysis is to see whether two measurement variables co vary, and to quantify the strength of the linear relationship between the variables, whereas regression expresses the relationship in the form of an equation. In this case the correlation between sales and other factors are found out. WHY USE CORRELATION We can use the correlation coefficient to test if there is a linear relationship between the variables. To quantify the strength of the relationship, we can calculate the correlation coefficient (r). Its numerical value ranges from +1. to –1.

0. r ; 0 indicates positive linear relationship, r ; 0 indicates negative linear relationship while r = 0 indicates no linear relationship. INTERPRETATION AND ANALYSIS The graphs in the annexure are analysed below. : Communication : This expense has risen as sales has been growing but 2 periods that were severely hit by recession shows a decrease in this expense as the sales was a bit sluggish. 2008-09,09-10 are the periods in which the sales were low so has been the communication expense. We can conclude communication expense is directly proportional to sales.Books,periodicals and magazine: These expense has grown steadily over the years though the graph has been flattening.

This expense has a very small portion in the overall revenue expenditure and is not really related to sales. Employee welfare and related: A minor 4 % of the total amount is spent on this category however a jump of around 60 % in this expenditure over the previous year is too high and the cost here can be cut down. Non productive expenses not really related to sales which is growing leaps and bounds every year should be checked.Insurace: It is one of the major expenses attributing to about 10 % of the total expenditure. It is mostly incurres on various vehicles manufactured and owned by the company. This expense mostly has a flat graph with not much fluctuation which is a positive sign.

This expense is already in control and need not be checked given it follows the same pattern. General expenses: It accounts for just a minor portion of the total expenditure which is also falling down drastically every year which is a very good sign and represents the ability of the company to pull down the excess expenditure.However the amount this year is negative which is not possible and after due analysis it has been found out that there was a wrong entry in this a/c which has been corrected in the database but the entry could not be traced. Lease hire expense : The hire expense expenses has dramatically fallen down. Hiring and leasing have come down in the past two years else it was high earlier. The management has been successful in cutting down these expenses. Others: 10-11 has been a very good year where the company has been able to cut down on almost all the major not so productive xpenses. It has been able to bring them down to almost nil.

This scenario exists for the category others. Printing : This expense has almost been recurring in nature with almost the same amount bein incurred every year. Not much of variation therefore this expense is very much in control and does not need special attention. Rent : This is one of the major expenses attributing to about 10 % of the total expense. This expense is continuously falling which is a very good sign of the total expense being in control. A drastic fall of 27% over the last year shows a healthy sign.Travelling : This is the largest expense of the entire revenue budget and it is a continuous upside expense as the employees go on work travel regularly for collaborating between various regions as Kolkata is the main eastern India sales office. Training ; sales and service :the company has been sending increasing on these to expense for better sales and welfare of employees and these two are the major resons for the upside direction of the entire budget.

The overall revenue expenses has been steadily growing which is healthy in reference to the growth in sales. The correlation table is analyzed below:The correlation table shows high correlation between * sales and books and periodicals. * Sales and employee welfare. * Sales and printing. * Sales and travelling * Sales and “sales and service”. * Sales and license. It means the expenses in these categories can be encouraged to increase sales as there is a positive correlation between them and higher these expenses will lead to higher sales.

Atleast the past records and correlation analysis shows so. THEORITICAL FRAMEWORK. Time Series : A time series data set consists of observations on a variable or several variables overtime.

Examples of time series data include stock prices, money upply, consumer price index, gross domestic product, annual homicide rates, and automobile sales figures. Because past events can influence future events and lags in behavior are prevalent in thesocial sciences, time is an important dimension in a time series data set. Unlike the arrangement of cross-sectional data, the chronological ordering of observations in a time series conveys potentially important information. A key feature of time series data that makes it more difficult to analyze than crosssectionaldata is the fact that economic observations can rarely, if ever, be assumed tobe independent across time.Most economic and other time series are related, oftenstrongly related, to their recent histories.

For example, knowing something about thegross domestic product from last quarter tells us quite a bit about the likely range of theGDP during this quarter, since GDP tends to remain fairly stable from one quarter to The term “trend analysis” refers to the concept of collecting information and attempting to spot a pattern, or trend, in the information. In some fields of study, the term “trend analysis” has more formally-defined meanings.Although trend analysis is often used to predict future events, it could be used to estimate uncertain events in the past, such as how many ancient kings probably ruled between two dates, based on data such as the average years which other known kings reigned CORRELATION In statistics, correlation and dependence are any of a broad class of statistical relationships between two or more random variables or observed data values. Familiar examples of dependent phenomena include the correlation between the physical statures of parents and their offspring, and the correlation between the demand for a product and its price.Correlations are useful because they can indicate a predictive relationship that can be exploited in practice. For example, an electrical utility may produce less power on a mild day based on the correlation between electricity demand and weather.

Correlations can also suggest possible causal, or mechanistic relationships; however, statistical dependence is not sufficient to demonstrate the presence of such a relationship. Formally, dependence refers to any situation in which random variables do not satisfy a mathematical condition of probabilistic ndependence. In general statistical usage, correlation or co-relation can refer to any departure of two or more random variables from independence, but most commonly refers to a more specialized type of relationship between mean values. There are several correlation coefficients, often denoted ? or r, measuring the degree of correlation. The most common of these is the Pearson correlation coefficient, which is sensitive only to a linear relationship between two variables (which may exist even if one is a nonlinear function of the other).Other correlation coefficients have been developed to be more robust than the Pearson correlation, or more sensitive to nonlinear relationships. The difference between correlation ; dependence is that a strong correlation only indicates that two (or more) data sets move together but (unlike dependence) does not establish any causal relationship. For example, IQ of a child ; size of his shoe will show a strong positive correlation but this does not mean that children with larger feet have greater IQ.

Both these variables however ‘depend’ on a third factor i. . age of the child.

LIMITATIONS * Within the limited time frame minimum statistical tools could be used. * The availability of data was also one of the major concerns to limit the project. * The data analyzed is secondary in nature * Certain confidential data cannot be used which could have impact on the final report. * Time and resource constraint were the major limitations affecting/ or may affect the various aspects of the study. * Analysis is restricted for a specific period of time. FINDINGS,CONCLUSION AND RECOMMENDATION.

Though the overall expenditure is rising it is rising at a decreasing rate. Their is proper management of revenue expenditure in place and has been able to keep these expenditures well under control. The only thing that the management should check is rising not so productive expenses like the welfare which showed huge jump this financial year. Overall, the project has been quiet a learning experience and interesting to work on. BIBLIOGRAPHY Wikipedia for theoretical framework. Rest of the data is taken from the companies internal database. (SAP mostly) ANNEXURE

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