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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.
Congress MP Rahul Gandhi’s close confidants KC Venugopal, Gaurav Gogai and others are furious over the dinner hosted by a G-23 member and former union minister Kapil Sibal on his birthday and inviting opposition party leaders. Sibal has said it was not an attempt to launch a non-BJP front without Congress playing a lead role. But Rahul supporters are not ready to accept; they strongly feel it is further attempt to embarrass Rahul who is already taking initiatives to mobilise opposition parties in and outside the Parliament against the Modi government. A former minister, who was present at Sibal’s dinner, said Sonia-Rahul Gandhi duo is an integral part for any non- BJP front but G-23 will step up its efforts to mobilise like-minded parties ahead of the next Lok Sabha elections. “A fresh demand will be made for convening the plenary session of the All India Congress Committee to elect a new president and thereafter launch a nationwide drive to build up front against BJP. Already some leaders have sent signal to Sonia, if she agrees party will get a new president.” Another leader, who was minister in both UPA I and II government, used cricket lingua to convey his message. Agreed, the wicket is sticky, but there are enough veterans and experienced players within the Congress party who can give a new spin and win the match.
Often, we tend to hold a poor view of politicians. With Parliament stalled at the drop of a hat, our misgivings about Parliamentarians and the Parliamentary systems of democracy deepen. A closer study, however, will reveal how misconceived our views are. Look at the way the Parliamentary Standing Committee on Finance sought to address ticklish issues in the corporate debt resolution process. Why should the resolution option be inflexible? Why should a resolution plan result in the disposal of the entire business and operations of corporate debt (CD) under a single plan? A combination of bidders taking different business units or assets could well be a superior solution. This could be better than a single bidder acquiring the entire business from a committee of creditors (CoC). The Insolvency and Bankruptcy Code (IBC), it appears, doesn’t facilitate multi-plan solutions for corporate debt resolution. The rules under Corporate Insolvency Resolution Process (CIRP), however, do provide for flexible disposal of assets/business of CD to different bidders. But IBC appears to grant no such flexibility to CoC. While IBC is a Parliamentary statue, CIRP laws are subordinate legislations. Hence, the Parliamentary Committee has recommended changes to IBC so that a resolution is achieved by pursuing either of the means prescribed by CIRP rules. Indeed, Parliamentarians do a quiet job behind.
Two men with Test batting averages of 11 and 3.6 helped themselves to an unbroken 89-run partnership to first take the Lord’s Test away from England and then conspired with their fellow fast bowlers to carve out a famous victory. Mohamed Shami and Jasprit Bumrah were the unlikeliest batting heroes on the final day even as England failed tactically by bowling bouncers at the tail, hitting them on the body and helmet, but not getting them out. An ill-tempered Test match saw England play like 15-year-olds, as Michael Vaughan said, in bouncing at the tailed batters, all because Bumrah had bounced James Anderson often in a 10-ball over. The same men who showed such great heart at the crease then bowled England out in under two sessions for only India’s third triumph at Lord’s. India’s pace bowlers have taken 39 of 40 England wickets in two Tests even as their captain Joe Root scored more runs than the rest of his batsmen put together. England were trapped in a scrap with Virat Kohli, a captain who revels in cricket as war. There is nothing wrong with emotion and passion on the field even if he tends to overdo it. Kohli joins Kapil Dev and MS Dhoni as the only Indian captains to win a test at Lord’s.
Top star Deepika Padukone lost a role in Sanjay Leela Bansali’s Baiju Bawra as she demanded more remuneration than Ranveer Singh. And Deepika is not the first heroine to do so. Kareena Kapoor Khan demanded Rs 12 crore to play the lead role in Alaukik Desai’s film Sita. Earlier, her close friend Karan Johar replaced her with Preity Zinta in Kal Ho Naa Ho for demanding more remuneration. A few years back Aishwarya Rai Bachchan lost an important role opposite Aamir Khan in Mangal Pandey because she demanded Rs 1 crore. Effectively, both Kareena and Deepika have lost opportunity to play iconic roles for asking what they deserve. This brings us back to the burning question of pay disparity in Bollywood. The general thinking in Bollywood is heroes (read men) have box office draw and female stars don’t have that kind of pull. A top producer clarifies, “Pay cheques are decided on the basis of how much business he or she rakes in. It is not based on the gender.” Sridevi and Madhuri Dixit got higher remuneration because audience went to the theatre to watch their performances. And of course, one heroine who has managed to single-handedly become a big hit is Kangana Ranaut. With Queen she proved it. She has made it clear that she prefers not to work with the Khans because “she would get over shadowed”.
BJP has put Mission Topple Maha Vikas Aghadi government in Maharashtra on hold and instead is focusing on securing the country’s richest civic body — the BrihanMumbai Municipal Corporation (BMC) and win the mayoral poll. With strong backing from the RSS parivar it has launched Samarth Booth Abhiyan which lays emphasis on reaching the voters up to the booth level and thereby strengthening the party to take on Shiv Sena’s vibhag or ward level network. There are 227 wards and 12,000 booths. BJP proposes to contact every voter at the booth level in a serious bid to counter Shiv Sena in the upcoming BMC elections. It has already started booth-wise revision of voters’ list and one-on-one meetings with voters. The BJP insiders claim the party has taken care to appoint committed workers as booth and shakti sthal pramukh to avoid groupism and factionalism. The party leadership’s diktat is not to entertain division. Interestingly, the Modi-Shah duo are closely monitoring the developments. Party President JP Nadda has already reviewed the ground level preparations with former chief minister Devendra Fadnavis, city unit chief Mangal Prabhat Lodha, and state unit chief Chandrakant Patil. Meanwhile there are strong rumours that Ashish Shelar, former minister and party legislator is tipped to take over as the state unit chief following his several rounds of meetings with Home Minister Amit Shah.
The new dispensation at Tamil Nadu headed by MK Stalin has unveiled first of its kind, exclusive budget for agriculture to transform the state’s farmers. A resounding electoral win, wresting power after 10 long years, a think tank cabinet of intellectuals, a White Paper on the abysmal state of the TN coffers (a timely disclaimer in case promises can’t be met), a budget that tries to put both revenue and deficit in perspective…. no wonder Stalin has raised expectations. This exclusive agricultural budget has a slew of schemes that could transform TN’s agriculture sector over next 10 years. If implemented, it could give the state a distinct identity. It envisages value addition for farm products, millets to be procured at better prices, incentives to sugarcane farming. The most striking aspect is the importance given to organic farming by creating a separate department for integrated push to take up organic farming. Another ambitious plan is to convert 11.75 hectares of fallow land to cultivable land, an increase from 60% to 75%. The scheme to give a solar powered pump set has been lauded. Above all, the scheme is focusing on training farmers to meet value added market demand as Agri Entrepreneurs. Clearly, Stalin’s agrarian focused approach could be the answer to what successive Tamil Nadu’s government was looking for a long time now.
It has taken a magnum opus on Veer Savarkar to put in print a memory that still lives and torments millions: The memory of the 1948 anti-Maharashtrian Brahmin genocide, a “wilfully erased chapter of history.” While writing for his concluding volume on the freedom fighter – Savarkar (Part 2): A Contested Legacy, 1924-1966 – author Vikram Sampath’s crowdsourcing efforts through social media drew an outpouring of tragic personal tales from survivors and descendants of the 1948 pogrom. The book captures how the carnage started from Bombay and Pune before spreading to Nagpur, Satara, Sangli, Miraj, the Patwardhan States, Belgaum, Kolhapur, where thousands of Brahmins were either massacred or their properties destroyed; and most villages in the state were ethnically cleansed of Brahmins. Thanks to laws like the Press Act, the media was silent on it – as it was on the coverage of the Partition Holocaust against Hindus and Sikhs in the newly created Pakistan, and its Kashmir horrors. Washington Post reported on wave of looting, arson and killings; New York Times said how “the communal riots quickly swept Bombay when news of Mr Gandhi’s death was received (January 30, 1948).” The accounts of DP Mishra, home minister of Central Provinces, point to a systematic pogrom against Brahmins and how no FIRs were lodged. Says Sampath: “The tragedy apart, denying its very occurrence makes it a doubly chilling crime.”
Incredible India! Five varieties of apples from Himachal Pradesh have been exported for the first time to Bahrain. This from a State which started growing apple about 100 years back. Thanks to Samuel Stokes, better known as the Apple Man of Himachal Pradesh, who came to India in 1914. Samuel Stokes left Philadelphia when he was just 22, got drawn into Mahatma Gandhi’s non-cooperation movement, probably the only American jailed in our Independence movement. He turned Hindu, married an Indian and settled down in HP. This state’s outstanding fruit, the Apple was a gift of the saplings and cuttings that Stokes brought from the US. When he died in 1946, he was cremated in the hills of HP. For reasons best known to historians and Apple orchard owners, Stokes and his contributions were largely ignored. While this American gave Indians the taste of Apple, the other American the legendary, the late Steve Jobs, gave the world his version of apple. Immortalised as the poster man for an Apple lover, Jobs found his life’s calling in India. Jobs, it seems, was seeking that eternal bliss and answers to his business failures. He came to Nainitals’ Neem Karoli Baba Ashram in the seventies. And that became the Bodhisattva tree moment for Jobs. And the rest is history.
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.