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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.
India’s stock markets are on a roll and will continue to keep the current momentum at least till March next year, with sprouts of recovery being visible in line with accelerated vaccination drive; and as fears of the pandemic have begun to subside. An expected rise in the government spending will also give a fillip to the capital good stocks further, says Aditya Birla Sun Life Asset Management Company Managing Director and CEO A Balasubramanian to shortpost.in. The number of Initial Public Offering (IPO) launches would also continue to maintain the pace with several “robust” companies willing to test the primary market. According to Aditya Birla Sun Life AMC, India’s fourth-largest money manager, information technology is the best sector in the current context with pharmaceuticals and capital goods quite close to it in terms of real returns. Bala, as he is fondly known in the industry, also expects a consolidation in the fast-moving consumer goods space. The market should remain “well-supported” in the coming months, driven by buoyant demand for Indian assets from international investors. The government would also shift its stimulus packages (which now completely focuses on end consumers and social causes) to core sector and infrastructure spending, and engaging the private sector more closely, he added. The Third Wave of pandemic, if it comes, would be the parting wave both for the markets and the general economy at large.
The overnight transfers of three governors to Tamil Nadu, Punjab, Uttarakhand by Prime Minister Narendra Modi recently aims to continue the new political doctrine of proactive governors (not rubber stamp governors) to tackle ground level political realities in these states. Modi demonstrated this strategy in West Bengal, Delhi, and Maharashtra. The appointment of Ravindra Narayana Ravi, retired IPS officer and former Governor of Nagaland as TN Governor, comes as BJP perceives the new DMK government as an anti-Hindu dispensation, in addition to an increased incidence of conversions and to curb the resurgence of insurgency in the south Indian state, says BJP think tank constituent Mahendra Jain, based out of Mumbai. Similarly, Lt Gen Gurmit Singh (retd) has been given the responsibility of Uttarakhand. A former deputy chief of army, Singh is an expert on China affairs (Uttarakhand shares the international border with China) and was part of at least eight delegations to visit China and was a research fellow on the subject. Banwarilal Purohit had additional charge of Punjab as TN governor but is now given full responsibilities of Punjab where the Congress is in apparent disarray. Unlike old times (pre Modi era) the role of governors is recast to tackle challenges politically as part of the new Modi doctrine. Meanwhile it is learnt Maharashtra Governor Bhagat Singh Koshyari has expressed a desire to retire from politics.
It is far from polemic in nature, but the palaver about Virat Kohli to be eased out of white-ball captaincy after the Twenty20 World Cup has got the thinking caps to mull over. The BCCI Treasurer Arun Dhumal has denounced the news as rubbish, and the Secretary Jay Shah has been circumspect telling “The Indian Express” that the issue of captaincy doesn’t arise as long as the team is performing. But is India ready for a separate red and white-ball captain? As of now, Kohli is the undisputed leader in World Twenty20 with a phenomenal average of 52.65. His average as captain (45 matches) is an impressive 48.45. And in three Twenty20 World Cups, he has been out of the world, with a stupendous average of 86.33. He has not led India in ICC World Twenty20. Kohli is a white-ball King. He has led India only in nine ICC World Cup matches and won seven. It’s a matter of conjecture if Rohit Sharma will lead India in the white-ball series at home against New Zealand after the show in the UAE. Kohli needs to lead in five matches each to complete a century in ODIs and a half century in Twenty20. Will he make way for Sharma, who proved his mettle in Australia and England and has led India in 19 Twenty20 matches and 10 ODIs?
For the past two years, versatile actor Govinda who has given any number of hits in the past has been playing the waiting game to stage a big comeback. But alas! Luck seems to elude this talented actor who in the recent past worked in Rangeela Raja and FryDay. Surprisingly, the actor who is in popular demand for reality shows does not have the same pull today when it comes to the box office. Both the movies failed miserably. Actually, times have changed, cinema has changed and so too has audiences’ tastes. There is a place in Bollywood only for those who can reinvent themselves. Big B smartly staged a comeback via the small screen by hosting KBC. This sense of rejection has made him bitter and philosophical. He feels there is a conspiracy to keep him out. But many industry insiders say there is no merit in this argument. Well, there are plenty of guesses and theories peddled to explain what’s coming in the way for any producer wanting to sign him up. But what has added to his cup of sorrow is the public spat between his family and nephew Krushna Abhishek’s family. Producers feel Govinda who has the potential should rather focus on his career. Recognizing his talent, Salman Khan offered him a film but Govinda turned it down for reasons best known to him.
Om Prakash Chautala, a former Chief Minister of Haryana from the Indian National Lok Dal (INLD) and son of Deputy Prime Minister Chaudhary Devi Lal, has opened communication channels with various political parties to form a Third Front ahead of the next Lok Sabha elections. Chautala, who had walked free from Delhi’s Tihar Jail after serving a 10-year jail term in a teacher’s recruitment scam, wants to play a new innings at the age of 86: To provide an alternative to the BJP and the Congress. However, Chautala will have to strive to win the confidence of small, regional and like-minded parties to form a third front as BJP has already launched an exercise to lure such parties. Chautala’s party INLD has lost its presence in Haryana while regional satraps may not like to accept his leadership considering his past. Third front has been a disaster in Indian politics. A veteran BJP leader, however, holds that there may be an opposition front, third, fourth or fifth front, BJP’s victory for the third successive term is sure. He did not forget to add “Modi Hai to Sab Mumkin Hai.”
Nationalist Congress Party Chief Sharad Pawar’s “zamindar” dig at the Congress party has been hailed by many G-23 group leaders who are making a strong case for the reforms and rejuvenation of the organization lest it loses political relevance. Interestingly, save for Gautam Patole, Nitin Raut and Balasaheb Thorat from Maharashtra, none of the Congress leaders across the country slammed Pawar for his observation that Congress’s situation was now like impoverished zamindars (landlords) who have no land and cannot maintain their havelis (mansions). Pawar chose to target Congress at a time when there has been unanimity among opposition parties excluding BSP, AAP and MIM to join hands to take on BJP in the run up to the next general elections. Pawar has, however, clarified that such a front won’t be possible without the Congress party playing a crucial role. Former union minister Verapppa Moily, who was among the 23 leaders who wrote to Sonia Gandhi last year seeking organisational overhaul, opposed the institutionalisation of the G-23 saying the group has “no role and has become irrelevant.” However, leaders during private conversations admit it is “now or never” situation for the Congress leadership to act fast for its revival or witness more desertions. And what intrigues everybody is the deafening silence of the Gandhis.
Cricket may make a comeback into the Olympics by 2028 in Los Angeles and not in 2024 in Brisbane which, however, has great infrastructure for the game. But long before cricket gets Olympic recognition again after figuring in the Paris Games in 1900, it may be born in the USA in an international avatar as the Second Season of IPL. Plans are afoot to build infra in the West Coast of USA for cricket not only with an eye on the Olympics but also to get into the lucrative IPL market by offering great venues for the game in Los Angeles and the Bay Area around San Francisco. In fact, these venues may be up and running in a couple of years so that the IPL Second Season can take off in the US summer of 2024. Those planning the IPL Second Season in the USA are perfectly aware that there is no dearth of CEOs of billion-dollar IT companies whose czars are all PIOs and so the game won’t be lacking in sponsors. A Second Season of IPL every year might leave little space for traditional Test cricket but the administration is unlikely to be bothered too much about it as the IPL is the game’s biggest money spinner that leaves BCCI with more money than all other cricket boards put together.
The appointment of Ravindra Narayana Ravi, a former bureaucrat and Governor of Nagaland, as Tamil Nadu Governor seems to have hit the DMK in the solar plexus. This development comes post the meeting of AIADMK’s Edappadi Palanisami and O Panneerselvan with Prime Minister Narendera Modi wherein they had expressed fear of a witch hunt by the Stalin government. Analysts say Stalin was surprised by this appointment. Generally, the relations between the Governor and Opposition parties-ruled Chief Ministers have always been blow hot blow cold. It may be recalled when Banwarilal Purohit was the TN Governor, the DMK dug up sleaze on a certain Nirmala Devi and tried to tarnish his image. But, once Stalin took over as CM the relationships were cordial. But is the appointment of Ravi a la Kiran Bedi who had frequent face-offs with Puducherry Chief Minister? So, what does Governor Ravi bring to the table? As a former IPS officer, with deep throat experience in counter-terrorism and intelligence, he is definitely no push over Governor. Stalin who initially made politically right statements, later via his party MLA KS Alagiri, attacked the Governor. Stalin has been pushing for more federalism and has dared the Centre by moving a Bill to scrap NEET. Till date it was easy going for Stalin, but it may not be so in the coming days with the new Governor.
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.