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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.
Virat Kohli and the Indian team have been under the cosh for their dismal performances in the two opening matches of the ICC Men’s World Cup Twenty20 against Pakistan and New Zealand. Both the matches were played on Sundays and at Dubai, and Kohli appeared quite fed up with the long gap between the two matches. The outcome against New Zealand, to which Mahendra Singh Dhoni’s team had lost in South Africa at The Wanderers, Johannesburg in 2007 at Nagpur in 2016, was even more deflating. In Dubai, Kohli’s run down team had no answers to a professional work in the field by a low profile side. Reactions from former players across nations have been assorted, and those regularly active on the social media have been quick to put out their own reasons, but it is former India batting maestro, Sunil Gavaskar who has hit the nail on its head by making an observation that may not go down well with Kohli or the decision makers in the Indian team. And Dhoni is the mentor of the team. Gavaskar has said that Ishan Kishan is a hit-and-miss player and by asking him to open the innings with KL Rahul the team was only suggesting that it doesn’t trust him against left arm seamer Trent Boult. Clearly Kohli’s team is down and out before the match against Afghanistan at Abu Dhabi on Wednesday.
At the G20 climate summit held in Glasgow, Prime Minister Narendra Modi must have felt like Midas, reincarnated. Heads I win, tails you lose. This last chance for reigning in global warming saw a new phase of tu tu mein mein. And this blame game and tug of opinion between the have nations and have nots couldn’t have been better articulated than what Andy Mukherjee, columnist and analyst wrote for Bloomberg: “The real action is happening in NW Gujarat, not Glasgow.” Modi has two of the most ambitious, richest and dedicated fighters in the corporate world, racing for supremacy – Mukesh Ambani, 64 and Gautam Adani, 59. Like quick change Houdini, Ambani (with world’s biggest refining complex at Jamnagar spewing emissions) has already committed investments worth $36 billion in four sunrise domains: solar panels, batteries, green hydrogen and fuel cells. Adani had a head start with his coal powered plants (not seen cool by environment guardians); his 360 degree turn is for a 20,000 MW gigantic integrated solar wind and hybrid electricity empire. The hydrogen generation units will take off like the proverbial balloons, decarbonising India’s fuel needs for the future. Now is it crystal clear, Modi wins any which way. It just means custom making certain policies for the Atlas corporations. Is anyone complaining?
Nothing more upset supporters of Trinamool Congress chief Mamata Banerjee than the warm meeting between Prime Minister Narendra Modi and Pope Francis on October 30 at the Vatican. Modi pulled off a surprise by not only calling on the Pope but also extending an invitation to visit India. It would be the first such visit after a gap of 22 years. RSS general secretary Dattatreya Hosabale welcomed PM’s meeting as well as invitation. Modi presented the Pope with a book on a topic close to his heart — The Challenges Of Climate Change: Children On The Front Line. The invite for papal visit had a positive impact with Kerala Catholic Bishop Council looking forward to it. Only TMC backers looked distraught and began to question Modi’s timing of the invite. Was it timed with Goa polls? Mamata had spent three days in Goa. A third term CM of a large state such as West Bengal, she was scouting fish markets of Mapusa to fraternise with locals. Journalists from Kolkata were brought to chronicle the beginning of her journey from “Goa to Delhi.” Did Mamata zero in on Goa thinking that since Modi became PM only because it was at Goa BJP National Executive in 2013 that he had been declared PM candidate for 2014 Lok Sabha elections, she too must start from Panaji!
It is a big victory for Uddhav Thackeray that too outside Maharashtra. Shiv Sena’s candidate Kalaben Mohanbhai Delkar, wife of former MP Mohan Delkar who had committed suicide in a Mumbai hotel, won the Dadra and Nagar Haveli Lok Sabha seat with a margin of 51,269 votes defeating BJP candidate Mahesh Gavit. In most by-elections, BJP candidates have lost. This convincing victory margin could make Sena think of spreading its tentacles and also aligning with like-minded parties to take on BJP in 2024 Lok Sabha polls. It may be recalled that Uddhav during the meeting of CMs of states ruled by Congress and allies – convened by Congress chief Sonia Gandhi – had called to be ready for a fight against BJP. It was TMC supremo Mamata Banerjee who was the first to respond to Uddhav’s call. Uddhav, according to sources close to him, prefers his work to do the talking. He feels BJP can be defeated by reaching out to voters with a promise for a change. In this win, Uddhav has played his cards well. Though he wants to play spoilsport in Uttar Pradesh, he knows what happened in Bihar and West Bengal. As for BJP in Maharashtra, they need to do serious introspection: the proverbial wolf cry has come to nought. For now, the Maharashtra Vikas Aghadi seems well entrenched.
In an interesting move, Union Home Minister Amit Shah went all out endorsing UP chief minister Yogi Adityanath as BJP’s face for 2022 state assembly elections. He said electing Yogi in 2022 was very necessary if people wanted PM Modi to be re-elected in 2024. Shah appealed that “Modiji ko ek aur mauka dijijye, Yogiji ko mukhyamantriji banadijiye” (Give Modi one more opportunity. Make Yogi chief minister again). Shah’s fulsome endorsement of Yogi nixed speculation about the status of his relationship with the UP leader. For some time there has been a view that there was perhaps an undercurrent between the two leaders close to Modi. Age-wise, Shah and Yogi are almost contemporaries; both in their 50s; though Shah is a couple of years older than the UP CM. In terms of profile, both leaders are known to aggressively pursue Hindu causes and interests. So it is in this context that Shah’s backing of Yogi becomes significant. In 2017, Amit Shah as BJP President, had tirelessly worked for his party’s astounding victory in UP and helped Yogi become CM for the first time. Last week, Shah returned to Lucknow to launch BJP’s campaign for 2022. People who worked with him in the past such as UP BJP General Secretary Sunil Bansal are also in the team as key strategists. Union HRD Minister Dharmendra Pradhan has been given charge of the state.
Working in a corporate environment is one thing. But being a part of the government is quite another. Perhaps, he got a bit carried away initially. And, that got him into one controversy after another. Well, Tamil Nadu Finance Minister Dr P Thiaga Rajan, popularly known as PTR, appears to have understood the difference. He doesn’t stray into avoidable terrain now. He has chosen to be a lot more measured and focused. He made the right noises when he met the Press on October 1, 2021. A huge quantum of public money is lying outside the treasury. The task is to identify and bring it back into the Treasury. His efforts seem to be bearing fruits as close to Rs 2,000 crore of unused funds were identified by a task force set up by him. He is not against freebies (for the poor and the backward). But he is all for accounting, even the freebies. Handing out freebies without any responsibility is clearly not his way of doing things. The government order on gold loan waiver gives a clue or two to his thinking. The benefit should reach the deserving. And the system should be capable of doing this. This is what he is striving to do. Well, the thought-process is laudable.
Mid-October, Rahul Gandhi surprised CWC members by praising Charanjit Singh Channi’s humility. He informed them how Channi broke into tears on being told he has to take over as Punjab CM. Channi had become emotional because in a state dominated by Jat Sikhs he had never expected a Dalit like him to be picked as CM. However, today no one in Punjab Congress is sure if Chief Minister Channi continues to be Rahul’s favourite. Reason: Channi chose to ignore October 31– Indira Gandhi’s death anniversary. This was in stark contrast to what his predecessor Capt Amarinder Singh used to do: issue advertisements paying tribute to the slain PM. Mind you, Capt Singh was someone who had quit the Congress in protest against Operation Blue Star and resigned as Congress MP in 1984. This difference in approach to Indira Gandhi between Channi and Capt Singh was brought to fore by former Punjab PCC Sunil Jakhar. Meanwhile, the appointment of Jagdish Tytler — someone allegedly linked to 1984 anti-Sikh riots — as permanent invitee in Delhi PCC has evoked mixed reactions. On his part, Rahul Gandhi stayed aloof and preferred to tweet a video of the last moments of his dear dadi’s funeral. As for Channi’s tears, he must be shedding more of it now considering Sidhu has almost become adversarial, questioning every policy decision of his.
The head honchos of Tamil Nadu and Kerala have been collaborating on keeping the alarmists at bay over the Mullaperiyar Dam issue. The States are at loggerheads over the permissible height of water storage in the dam with Kerala wishing to build a new dam and take the 125-year-old dam out of the equation even as TN insists on its water rights from a perennial treaty. Alarmists are having a field day spreading rumours of impending disaster even as the opposition AIADMK is whipping up a campaign on TN’s water rights. The CMs are seeing reason in a tense scenario. The Supreme Court may have said the dam is safe and water can be stored upto 142 feet. Taking into consideration the fear of Keralites living below the dam in Idukki district, TN is keeping the water level only at 139 feet or less. The irrigation and drinking water needs of TN’s southern districts may be great but they will not be met by endangering the safety of a dam that stops a west-flowing river to take the water eastwards through giant pipes from the dam built by British engineer Penniquick who pledged his wife’s jewels to complete the work on his limestone masterpiece that has stood the test of time.
There are any number of behind-the-scenes stories when the great historical epic Mughal-e-Azam was being shot in the late fifties. The film, starring greats like Prithviraj Kapoor, Madhubala, Durga Khote and Dilip Kumar, broke all box office records in 1960 and is considered a milestone in Indian cinema. Well known director K Asif was shooting a scene for the movie somewhere in the deserts of Jaisalmer, Rajasthan. The scene required hundreds of horses and scores of elephants. Hearing this requirement, a local animal supplier (for films) approached Asif and said he could supply any number of horses and elephants for the shoot. It would cost around Rs 20,000 but he needed an advance of Rs 10,000. The advance money was a big amount in the fifties. But, without batting an eyelid, Asif turned to his production manager and said, “Give him 10,000 rupees.” When the man left, a worried production manager said, “Asif sab, suppose this man is a cheat and he does not come back, your money is gone!” Asif laughed and said, “Arrey…woh dus hazaar rupaiah ley gaya hai, kismat to nahi le gaya!” He told him, don’t worry he will come; and the man did turn dutifully as promised with horses and elephants.
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.