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In the wake of escalating face-off between the Chennai-based Tractors and Farm Equipment (TAFE) and its American partner AGCO over the ownership rights of Massey Ferguson in India, a two-member bench of the Madras High Court has stepped in to direct the warring parties to “maintain status quo until the original applications are heard and disposed of by the learned single judge. “For avoidance of doubt, we hasten to add that the observations made herein are tentative and solely intended for the purpose of disposing of these appeals. We have not delved much into the various rival submissions. All rights and contentions are kept open,” the two-member bench said in its order on Monday. The relationship between TAFE, an Amalgamation group company, and AGCO Corporation of the U.S. hit a nasty bump in April last when the AGCO management terminated commercial agreements -– including the one on licensing the Massey Ferguson brand — with TAFE. The Chennai firm quickly got a stay on this from a commercial court. When AGCO subsequently confirmed the termination, TAFE filed a contempt petition in the Chennai commercial court. Separately, TAFE also moved the Madras High Court, asserting its ownership right to Massey Ferguson brand. TAFE had got a favourable interim order from the Madras High Court. TAFE had filed a civil suit before the Madras High Court against Massey Ferguson Corporation, a subsidiary of AGCO, claiming that the said trademarks are distinctive of TAFE in India and exclusively owned by it. It had sought the Madras High Court to declare that TAFE owns the Massey Ferguson brand/trademarks in India. With the HC bench asking both parties to maintain status quo, all eyes are on the upcoming proceeding before the single judge. It is “advantage TAFE” at the moment, however.
With only 12 days remaining for the BCCI Secretary Jay Shah to take charge as independent chairman of the International Cricket Council (ICC), clarity has not emerged as to who would perform the duties of the Secretary from December 1, 2024. First and foremost, election has not been called for the post, and this could be because the BCCI Constitution has adequate provisions for its Joint Secretary to perform the Secretary’s duties. The BCCI Constitution says: “The President shall, in the event of a vacancy or indisposition of an office bearer, delegate the functions to another office-bearer until the vacancy is duly filled up, or the indisposition ceases.” In this case the BCCI President Roger Binny has the right to assign duties to any other office-bearer. Shah who has been the Secretary from 2019 may be allowed a grace period to hand over the work to someone else. Next week is going to be hectic for the ICC to take a call on the format and venues of the ICC Champions Trophy 2025 (Feb-Mar) because the BCCI has conveyed to the ICC that India will not travel to Pakistan. The BCCI, nay Jay Shah, would like to see a finality to the Champions Trophy issue, in particular where India will play before he takes charge of the ICC. If the Champions Trophy has to take place, the Pakistan Cricket Board has to accept a hybrid model with one group (with India in it) playing league matches, most likely in Dubai and keeping the venue of the semi-finals and final, open. The PCB may not be in a position to lose the hosting rights and thereby with it a fee of around $ 70 million!
The ‘Satta Bazaar’ is betting down (dampened market sentiments) over Maha Vikas Aghadi (MVA) forming Maharashtra’s next government. A market player says, “Punters have never been wrong before. Dampened stock market spirits indicate the Mahayuti Alliance is unlikely to win notwithstanding sops galore unleashed by CM Eknath Shinde.” Differing with market pundits, BJP says, “Markets crashed after Foreign Portfolio Investors withdrew Rs 1.25 lakh crore in October (out of total Rs 71 lakh crore total stock investments in India) seeking better pastures after China announced stimulus. FPIs sold Rs 8700 crore stocks in April, Rs 25,600 crore in May then bought Rs 26,600 crore worth in June, Rs 32, 400 crore in July, Rs 7300 crore in August and Rs 57,700 crore in September before the big sell off in October. Already overleveraged NSE slumped, the subdued corporate sector quarterly results after much hype triggered a profit-booking mindset among investors.” Donald Trump’s ascendancy as the next U.S. president (previous tenure witnessed negative bias towards precious metals) bodes badly setting price corrections of gold and silver even as the U.S. dollar firms up, adding to Indian stock market woes. The BJP leader adds, “Maharashtra contributes around 14% to India’s GDP but even when MVA ruled for 2.5 years Modi-nomics ensured high buoyancy on Indian bourses despite stalling of bullet train project, Rs 14,000 crore cost escalation of Metro project.” The market punter, however, cites India’s financial capital Mumbai in Maharashtra that ensures most Indian business gravitates around the state while explaining the gloomy market mood over MVA’s likely win. November 23 will reveal the truth when the political bets are finally called out.
In a massive setback to AAP, Delhi’s transport minister and Jat leader Kailash Gahlot resigned from the party, citing “grave challenges” and “awkward” controversies in a letter to AAP convener Arvind Kejriwal months ahead of Delhi Assembly polls. He has joined the BJP. Gahlot’s exit is well timed in the sense that it comes days before Maharashtra goes to polls. AAP, an INDIA Bloc partner that has no stake in the state polls. But it must be said Gahlot’s exit was something that was in the works for some time now. It is believed that the seeds of discord between Gahlot and the AAP leadership were sown on August 15 over unfurling the national flag during the Delhi Govt’s I-Day celebrations. Delhi CM Arvind Kejriwal, who was in jail on charges linked to the alleged liquor policy scam, had wanted Education Minister Atishi to unfurl the flag. Delhi Lieutenant Governor VK Saxena however felt Gahlot was more suitable for the job as he held the Home Department. Meanwhile, Kejriwal indicated that Gahlot had quit as he was under pressure from the ED and IT. In his resignation letter, Gahlot pointed to how “Political ambitions have overtaken our commitment towards people, leaving many promises unfulfilled”. In an apparent swipe at Kejriwal, he referred to “many embarrassing and awkward controversies like the “Sheeshmahal” — a term used by the BJP to refer to the CM’s residence renovated during Kejriwal’s term costing the exchequer Rs 45 crore.
A major controversy has erupted in Tollywood as over 233 directors from films, TV and independent media have filed a defamation suit against Swarup Biswas, president of the Federation of Cine Technicians and Workers of Eastern India. The Rs 23-crore lawsuit follows Biswas’s contentious remarks alleging rampant sexual harassment in the film industry, with 60% of complaints purportedly against directors and producer-directors. The hearing will take place on January 10. Swarup, the younger brother of Aroop Biswas, Bengal’s Power and Housing Minister and a close aide of chief minister Mamata Banerjee, finds himself at the centre of an unprecedented protest by Tollywood’s creative community. This is, perhaps, the first time that Tollywood has publicly challenged the Federation. Directors and producers have also criticized what they call “red-tapism” and “arbitrary demands” imposed by the Federation, including its control over unit sizes, pay scales, working hours, and technician selection. At the Eastern India Motion Picture Association’s (EIMPA) recent AGM, Swarup Biswas proposed that producers deposit Rs 5 lakh each as security to ensure timely technician payments, citing Rs 50 lakh in pending dues. Producers have outright rejected the demand, questioning the Federation’s accountability and EIMPA’s silence on the matter. Veteran actor-director Aparna Sen has publicly questioned Swarup Biswas’s credentials, asking for proof of his contributions to the industry. Biswas holds an assistant director’s card, which is reportedly issued only to those involved in at least two films. Actor-politician Roopa Ganguly also criticized the Federation, accusing it of politicizing the industry and questioning why filmmakers often seek the CM’s intervention during crises.
If rising onion prices decided the election outcome in many states some decades ago, falling soybean prices could impact the outcome in around 70 assembly constituencies in Maharashtra. Hence, Prime Minister Narendra Modi as well as Congress president Mallikarjun Kharge, representing two ends of the political spectrum, are found promising farmers of much higher rates, but only after they are elected on 20 November. The sensitive constituencies are spread in Marathwada and Vidarbha regions, where cotton and soybean are the main cash crops. The current market rate of Rs 4000 per quintal is unacceptable to the growers though they have no choice but to sell the produce as it can’t be stored for long. The MSP is Rs 4800 but not enough stocks are lifted by the machinery. The ruling saffron alliance has been promising better tariffs. The government hiked the soybean import duty in a bid to jack up the prices but the hike was of only around Rs 400, still leaving a gap of the same amount. Sensing the distress and the government’s inability to make any major announcement, Congress leader Rahul Gandhi has promised Rs 6000 per quintal of the legume. To go a step further, Congress president Mallikarjun Kharge has pledged to pay Rs 7000. Shiv Sena leader Uddhav Thackeray has also joined the chorus. The two regions had by and large supported the opposition Maha Vikas Aghadi during the Lok Sabha election. Hence, Mahayuti leaders are wary of saying anything that can dampen their prospects.
Are the re-runs slowly becoming a revenue model both for producers and exhibitors who have been grappling to bring back the audiences to cinema halls? Diwali turned out to be decent but then again we are gone back to re-release of films. Shah Rukh Khan’s Veer Zara re-release has been appreciated. Rakesh Roshan plans a re-release of Karan Arjun with a huge number of screens after 30 years of its release. This again has Shah Rukh Khan and Salman Khan coming together for the first time on screen. SRK’s Kal Ho Naa Ho and Pardes too are re-releasing in cinemas. Those in the trade feel that re-release of Tumbbad, Rehna Hai Tere Dil Mein and Laila Majnu have given courage to producers to cash on re-runs. The re-runs have stirred both excitement and curiosity. Traditionally, re-releases were reserved for timeless classics, but now more recent films are being revived, prompting questions: Is this trend purely nostalgic, or is there a deeper strategy at play? According to Trade Analyst Saurabh Varma, the re-release phenomenon is benefiting the cinema industry in multiple ways. For producers, re-releasing films is a cost-effective option. The marketing and distribution expenses are far lower than for new releases. Re-releases tap into the large fan bases of iconic films, giving long-time fans a chance to relive their favourite stories on the big screen. Furthermore, these revivals provide a unique opportunity for younger viewers who may have missed these films during their initial release. The combination of nostalgia and iconic music resonates deeply with audiences.
It’s a drivetrain solution provider for windmills and industry applications. Every one out of three drive train products installed across the globe bears the brand name of this one. Truly, this German major has traversed quite a long way and undergone a major metamorphosis in the process. One-and-a-quarter-century-old Bocholt-headquartered Flender has significant presence in India. Not surprisingly, the top management team of Flender was in Chennai a few days ago. The presence of the top honchos was more to reiterate the commitment of Flender to India. After all, it has been in India since 1961. It now has three production sites — one each at Kharagpur (WB), Chennai (TN) and Walajabad (TN). Around 10% of its nearly 9,000 skilled personnel across the globe are housed in India. And, it has been putting more money into this country since 2020. Why not? For one, India is the right choice for all those who are looking for the China Plus One option in the post-Covid era. For another, the focus world-over is now increasingly on sustainable development. The robust ecosystem — the presence of assorted turbine makers and a well-evolved supply chain — according to its India CEO Vinod Shetty, is ideal suited for Flender to aspire for a bigger role in driving energy transition in the country. Indeed, Flender is quietly expanding its India operations for a bigger role in its global game plan.
Tamil film producers and their financial backers are now rethinking this model — big money, big stars, big projects but no guarantee that it will reap profits. So the new strategy…safe and secure than spend thrift and sorry. Can small budget films do big business? A resounding yes to three of 2024s baby budget films that warmed the cockles of producers’ hearts. Three films of this year, Lover, Lubber Pandhu and Vaazhai have pulled in amazing profits and massive margins. Lover’s budget was a mere Rs 5 crore, and plus other expenses added the total cost to Rs 6 crore. Hold your breath! It made a profit of Rs 13 crore. But Lubber Pandhu (Rubber Ball), a title that would have gone unnoticed, made the biggest rake in for Prince Pictures who earned Rs 35 crore in TN gross alone — 300% profit. Vaazhai was no sneeze over either…it brought Rs 12 crore profits in TN. Film making costs and exhibition/promo expenses can zoom up dangerously, and after paying the incredible star salaries, if the film’s overflow is modest, stakeholders have no insurance cover to fall back on. Small is big is fast becoming the new open sesame for Kollywood to stay safe.
Veteran leader Sharad Pawar finds commonality between Vote Jihad and a particular section of the people voting for the BJP. Explaining his stand, the NCP founder said it was seen in Pune that the BJP was consistently supported by a certain segment (read Brahmin) in some areas. We expect this to happen though don’t call it Vote Jihad, he remarked. According to Pawar, if such voting patterns happen, it is the right of every community to vote as per its choice. He again charged that deputy chief minister Devendra Fadnavis had raised the issue of Vote Jihad. Pawar’s jab was directed at those specific areas of Pune where Brahmin population is dominant and mostly BJP candidates are elected from such localities. Time and again, Pawar has been accused of creating the bogey of caste with an eye on electoral gains by engineering a rift between sections of the electorate. In support of his contention, Pawar said slogans like ‘batenge toh katenge also fall in the same category as they have a communal shade. He alleged that the issue has been cropped up by the ruling dispensation as it is desperate at the bleak prospect in the assembly election, after the Lok Sabha rout. Fadanvis had condemned the Vote Jihad philosophy after cleric Sajjan Nomani released a list of the Maha Vikas Aghadi candidates and asked the Muslims to vote for them.
It has been an inconclusive debate. Which is better of the two: Family-run businesses or professionally managed companies? In today’s world, the business dynamics have changed quite drastically. So much so, private equity firms have come to play a dominant role in driving the destiny of any business. When a business entity aspires for growth, a quick one at that, a trade-off becomes inevitable. The founders, nay promoters, don’t hesitate to sell a perception and project to the world at large that their enterprises are professionally-managed. This statement attracts PE players in hordes and in the process drives up valuations. Hence, it has come as no surprise when Zomato founders declared that they aren’t the promoters as their holding dropped below 25%. Ditto: Paytm. The oldest example of a company without a promoter is that of L&T, an Indian multinational conglomerate which is professionally managed. In the case of ITC, it is 29.4% owned by UK-based BAT, again no owners but a professionally managed company. Likewise is Hindustan Unilever, a subsidiary of British company Unilever. Being a promoter does not entail benefits nor liabilities. But, in case of any eventualities – like we saw with Vijay Mallya or Mehul Choksi – the buck stops there. Giving up the promoter‘s tag to attract global PE players may be a new trend but will it last?
The tractor rally to Parliament House on July 26 by Congress leader Rahul Gandhi caught everyone by surprise. It left the Union Home Ministry, Arvind Kejriwal’s government and the Delhi police red faced. It was an intelligence failure. According to OpIndia.com: “The tractor was sneaked into the area in a container, secretly offloaded at the office of Congress Rajya Sabha MP KTS Tulsi at Moti Lal Nehru Marg, about one and a half kilometres away from the Parliament.” The damage was done. Senior IPS officer Balaji Srivastava who took over as the 23rd Commissioner of Delhi on June 30, 2021 was immediately replaced by Director General of Border Security Force Rakesh Asthana. Some feel it was a good excuse to remove Srivastava and replace with a loyal Asthana. A 1984-batch IPS officer from Gujarat cadre, Asthana was appointed as Delhi police chief, three days before he was to superannuate. Now, in addition to Lieutenant Governor Anil Baijal, the Kejriwal government will also have to deal with Asthana. The AAP government passed a resolution in the Assembly: “It is beyond any reasonable understanding as to why a controversial officer who was removed by this Central Government from the post of Special Director CBI in October 2018 and was not considered fit for the post of CBI director only very recently, is being imposed on Delhi Police.”
Everybody deserves a second chance. In Bollywood, yesteryear’s stars are padding up for a second innings. Mandakini of Ram Teri Ganga Maili fame, Kalpana Iyer who predominantly played a vamp role, and Farheen Prabhakar, a Madhuri Dixit look alike who married cricketer Manoj Prabhakar, are keen to return to acting, and don’t mind playing their age. Big B was lucky. Kaun Banega Crorepati launched him into the stratosphere and there was no looking back. But, not everybody is lucky. Superstar Rajesh Khanna tried very hard to make a comeback but alas. Ditto: Popular star Mumtaz. Versatile star Govinda who is making guest appearances on reality shows, is yet to get the big break on the silver screen. Fardeen Khan is also knocking at producers’ doors and may sign up for a web series. For Madhuri Dixit-Nene the return was not a cakewalk. She has now come to terms, and settled down to judging a dance reality show, acting in a web series for Dharma Productions and occasionally cutting an album. Effectively, she is in the limelight. Shilpa Shetty had a high visibility thanks to a reality show Super Dancer, and her Yoga album, but got a break in the big screen after a gap of 11 years. Bhagyashree of Maine Pyar Kiya fame will be seen in Thalavi, a biopic on J Jayalalithaa played by Kangana Ranaut.
I rise in sad remembrance of the 50th anniversary of the Bengali Hindu Genocide,” Sheila Jackson Lee, U.S. Democratic Congresswoman, offered her prayers in the House of Representatives, putting spotlight on Pakistani Army’s 10-month reign of terror known as Operation Searchlight (started on March 25, 1971) when “2 to 3 million people were killed, over 200,000 women raped in organized rape camps, and over 10 million people displaced, most finding refuge in India.” In remembrance of the Bengali Hindu Genocide victims, Tulsi Gabbard, former U.S Congresswoman and 2020 Presidential candidate, quoted U.S Senator Ted Kennedy: “Hardest hit have been members of the Hindu community who have been robbed of their lands and shops. Systematically slaughtered.” She added: “The Islamist persecution of Hindus and other religious minorities in Bangladesh didn’t end with Bangladesh’s Independence. That campaign continues to this day with horrific targeted attacks, murders, homes being burned down and families who continue to be forced to flee.” For many, this campaign has now reached West Bengal. The extent of the bloodlust unleashed after TMC’s spectacular poll victory over BJP has left pro-Hindu voices seething in despair. The NHRC is appalled to discover “a pernicious politico-bureaucratic-criminal nexus” behind 29 murder, 12 rape, and 940 cases of loot and arson during May 2 to June 20. The Calcutta High Court will hear the matter on August 2.
I rise in sad remembrance of the 50th anniversary of the Bengali Hindu Genocide,” Sheila Jackson Lee, U.S. Democratic Congresswoman, offered her prayers in the House of Representatives, putting spotlight on Pakistani Army’s 10-month reign of terror known as Operation Searchlight (started on March 25, 1971) when “2 to 3 million people were killed, over 200,000 women raped in organized rape camps, and over 10 million people displaced, most finding refuge in India.” In remembrance of the Bengali Hindu Genocide victims, Tulsi Gabbard, former U.S Congresswoman and 2020 Presidential candidate, quoted U.S Senator Ted Kennedy: “Hardest hit have been members of the Hindu community who have been robbed of their lands and shops. Systematically slaughtered.” She added: “The Islamist persecution of Hindus and other religious minorities in Bangladesh didn’t end with Bangladesh’s Independence. That campaign continues to this day with horrific targeted attacks, murders, homes being burned down and families who continue to be forced to flee.” For many, this campaign has now reached West Bengal. The extent of the bloodlust unleashed after TMC’s spectacular poll victory over BJP has left pro-Hindu voices seething in despair. The NHRC is appalled to discover “a pernicious politico-bureaucratic-criminal nexus” behind 29 murder, 12 rape, and 940 cases of loot and arson during May 2 to June 20. The Calcutta High Court will hear the matter on August 2.
The most famous “Wall” of world cricket, Rahul Dravid completed his first assignment as head coach of the Men in Blue in the six-match white ball series against Sri Lanka in Colombo on Thursday night (July 29). Someone who gives precedence to the “process” of development for the young and upcoming, and not unduly bothered by outcomes, the 48-year-old put up a stoical demeanour after a weakened Shikhar Dhawan team (Prithvi Shaw and Suryakumar Yadav were on way to England, and a few more were not available because of COVID-19 related isolation) were groping for answers to the cunning Lankan tweaker Hasaranga, and went down 1-2 in the Twenty20 skirmish. A part of the phalanx of the Indian middle order for more than a decade that had Sachin Tendulkar, Sourav Ganguky and VVS Laxman, Dravid was on the spot explaining that every generation takes time to find its feet in international cricket, and that he was not disappointed by the tyro Indian batsmen being outsmarted by the Sri Lankan bowling which he described as of the top drawer stuff. The big question that cropped up was: would Indian cricket see him in a similar role in the future. His answer was: “I have enjoyed this experience, but I have not thought of anything far ahead. There are a lot of challenges in doing full-time roles.”
With his father BS Yediyurappa’s (BSY) aide and minister Basavaraj Bommai in the saddle, BY Vijayendra is still a force to be reckoned with as Karnataka comes under a new regime. The central BJP leadership tried its best to bring a more amenable CM in Bengaluru who would listen to New Delhi. But with elections not far away and the Lingayat factor too strong to ignore, BJP’s top brass had to compromise. Under the new dispensation too, Vijayendra will still be a powerful factor, operating from behind the scenes. BSY, the principal architect who created a foothold in the South for the BJP, had to be kept on the right side of equations despite BJP’s compulsion in not sending the party into the polls under an 80-year-old two years hence. With his non-communal approach and his inclusive vision, BSY was a tall regional chieftain who took an independent stand. Faced with rising cases after the lifting of most lockdown restrictions, Bommai has his task cut out in his State to control Covid first and then raise his sights on the elections. This is where he will be leaning on Vijayendra the most as he was the architect who brought Congress and JD(S) MLAs on board for his father to win back the State.
Time was when party and kitty group talk would debate how early a pregnant woman registered her kid for the top, uber sought after private school. Tamil Nadu has one of the best school systems in the country and only financial status decreed which school your ward would join. Greater Chennai Corporation (GCC) alone runs 281 schools, with 300 private schools, some most sought after. There is this convent school in Nungambakkam where aspiring parents or proxies queue up at 4 am to get the admission forms. Such proven citadels of education enhance a CV when applying for a job. The pandemic has hit middle class families hard, what with job losses and back breaking medical bills. This year there is a 33% rise in GCC schools. Of 27,843 enrolments, 15,000 are from Private and Government-aided schools. These GCC schools are no pushover. They are SMART schools, with good infrastructure, toilets, clean water and fairly good English medium teaching. Recently a Rs 280-crore makeover plan has added more sheen. TN has always been in the forefront of education. It was first to introduce mid-day meal schemes to attract underprivileged kids and cut dropout rates. Now the GCC has just announced an innovative and inclusive strategy. Crowdfunding for further improving infrastructure and educational aids. The South leads in the most significant development index — Education.
TRENDS & VIEWS
Editor’s Note: Big Punch In Small Pack
It is the Third Anniversary of Short Post and as a news media startup launched during the Covid-19 pandemic it certainly feels better than good to find ourselves where we are today. Here, I must cite the unstinted support of our seasoned contributors, all senior editors in the country, who brought a great degree of maturity and sagacity to the Short Post newsroom. But for them, our tagline “Authentic Gossip”, an Oxymoron, would not have matured viably. Our user numbers may be small but our stories have created the desired impact among people who matter — decision makers and influencers. We offer a big punch in a small pack and Short Post with its 225-word stories has been punching above its weight category. Having posted close to 3,000 stories in the last 36 months, Short Post, I feel, is an idea whose time has come.
And this is vindicated by our two marquee advertisers – IDFC FIRST Bank and ICICI Lombard. Both believed in our story and have supported us from Day one. A big thank you to both.
If you look at the media landscape – print, TV and digital — it is a mixed bag. There are job losses as some outfits have closed down while a lucky few were bailed out by large corporate houses. Yes, there is a lot of action in the digital space. However, the entry of corporate houses has raised the question of independence of news media outfits. Sadly, there are just a handful of independent media outfits in the country that are highly respected for their neutrality. At Short Post, our credo is not to take sides, prejudge issues or be biased but, informing readers of behind-the-scenes happenings. In essence, Short Post strives to be a neutral editorial platform — neither anti-establishment nor pro-establishment.
As I said last year, disruptions in the media world are moving at a fast and furious pace. Technology is playing a very big role in how content is generated and consumed. But, we are neither alarmed nor perturbed as it is all a part of the evolution process. What gives us comfort is that AI is unable to create original gossipy content. And that is the news arena where we have achieved a distinction.