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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.
Nothing is more powerful than an idea whose time has come, said Victor Hugo a long time ago. I felt likewise. So instead of waiting endlessly for the Covid-19 tide to ebb, I decided to take the plunge and launch www.shortpost.in on January 28, 2021. This website, the first of its kind in the country, focuses only on short ‘Authentic Gossip’. Clearly, content is king more so if it is short & crisp (225 words), as a large section of our society is steadily shifting to digital and mobile space. To achieve this, I was fortunate to muster editorial support of some of the most senior and respected journalists in the country to bring out credible content that involves, stimulates and entertains our highly discerning readers — from across continents. We have so far uploaded close to 1,000 posts covering areas like Business, Politics, Sports, and Entertainment. Yes, today we have crossed an important milestone in our journey – #ShortPostFirstAnniversary — and we are confident many more will follow in keeping with our stated vision – to become a one stop site for authentic gossip. So, what next? With the third wave showing signs of slowing down things can only look better. So as the year rolls by we promise to pack in more punches. Before I sign off I would like to thank our advertiser IDFC FIRST Bank, angel investors Anuradha Verma, Ashish Kakkar and you readers for making this journey possible.
Currently, IPO subscription in India is skewed to favour the leveraged HNI and subject to a very high degree of money power. Come April 1, 2022, this is set to undergo a major change with the RBI directing that no individual can be lent more than Rs 1 crore to apply for shares in an IPO. The immediate ramifications will be huge. Firstly, the number of times the HNI portion is subscribed will fall sharply from the present 100-800 times to maybe 5-10 times. The present grey market premiums which decide the subscription level will no longer exist at these levels as the subscription will not match. The reverse math will not allow such premiums to remain. The pricing of issues will go through a downward pressure as merchant bankers, promoters and PE Investors will no longer have the luxury to depend on leveraged HNI to back them. The standard practice of every issue opening at a premium of 20-30% of the issue price will simply stop. What would the new scenario look like? Probably more subdued and balanced. IPO price band would be realistic and listing gains of 10% would be a great number. HNI subscription being in single digit would be the new norm as SEBI would also have notified the new norms of splitting the HNI bucket into two. For retail investors it is a welcome move.
When NS Raghavan, one of the seven co-founders of Infosys, was inducted as the Chairman of the Chennai-based Murugappa group, it took the entire corporate world by surprise. It was hailed as a path-breaking initiative by a family-owned group. Subsequently, the group set up a Murugappa Corporate Board. The ostensible reason for setting it up was to let the myriad group firms be run professionally. In 2020, the corporate board was dismantled. That has also taken many by surprise. Has the wheel come full circle? Tongues have, in fact, started wagging. Why was the two-decade old group corporate board dismantled after being in existence for two decades? Well, much water appears to have flown under the bridge since its formation many summers ago. The group itself has seen GenNext coming to the fore. Also, the group is under public glare with the daughters of late MV Murugappan alleging discrimination and seeking legal recourse for justice. Though the group comprises four families, there isn’t any complicated cross-holding structure in group firms. If grapevine is to be believed, there seems to be an informal demarcation of business among the varied families within. And, these sources suggest that each of them enjoys operational leeway with little cross-participation of family members in different group boards. Is Murugappa following the TVS model?
In the course of a momentous year we broke the story that the former cricket head honcho N Srinivasan was prepared to give up control over Tamil Nadu Cricket Association (TNCA) as he had other battles to fight. Soon, his daughter resigned as President citing other commitments and it confirmed our story that Srinivasan had given the TNCA reins to DMK for a quid pro quo. In what is a done deal, it is up to TN Chief Minister MK Stalin to decide who will head TNCA – his son-in-law Sabareesh or the young gun in his party who is already in TNCA. In a battle with the corporate raider Radhakishan Damani, Srinivasan would need the help of the ruling party to ensure it is not a hostile takeover of India Cements. What he needs most is the Chennai Super Kings, the billion-dollar baby he always knew would bring him plenty of trouble in cricket because of a conflict of interests and he would like his daughter Rupa to be the honcho there. What makes India Cements ripe for a corporate raid is the cross-ownership of CSK through a shareholders’ trust. There are complications like some residences of top honchos or parts of them in the Tony Boat Club area in Chennai being in ICL’s name. Will the raider not be interested in the exposure CSK would bring him than cement factories? There are interesting times ahead when this story unravels.
For all the bluff and bluster about rebuffing BJP’s overtures to him Rashtriya Lok Dal (RLD) leader Jayant Chaudhury is seriously considering the offer. Prior to his Mathura visit, Union Home Minister Amit Shah reached out to Jat leaders from Western UP on January 26. The region will vote in the first phase of assembly elections on February 10. Shah met them in Delhi to explain the futility of the SP-RLD alliance. The alliance, he said, would not help Jayant Chaudhary but allow Azam Khan to rule, a message Jats in the area also concur with. Shah’s overtures to Jayant has unnerved Akhilesh Yadav after he got a number of Muslim candidates contesting on RLD tickets from Muslim dominated areas. This left Jats with little alternative than abandoning their preferred party and shifting their vote as they were wary of Muslims since the 2013 Muzzaffarnagar riots. Shah assured Jat leaders over their demands for reservation and promised a Bharat Ratna for their leader Chaudhary Charan Singh. He emphasised the economic advantages if BJP returns to power in UP, for the completion of the Jewar airport in NCR. Summing up the mood of the Jats, Muzzaffarnagar MP Sanjeev Balyan said “Jats will still vote for BJP as they cannot see Akhilesh Yadav as CM. Jats know that BJP respects them.”
An upset Maharashtra Chief Minister Uddhav Thackeray is on attack mode and, has thrown the gauntlet at Prime Minister Narendra Modi. Emerging out of his medically proscribed limitations on offline work, Thackeray was on a signing spree for 10 days with advisor Sitaram Kunte to clear all pending files literally. Parallelly, he launched a broadside against BJP antagonists Narayan Rane and son Nitesh Rane, Amit Satam (one the Tipu Sultan naming controversy) and, Kirit Somaiya (booked for unauthorized photography in the state secretariat). More importantly, Thackeray signaled to BJP that he is the boss by clearing a file allowing the auction of the land in BKC, earmarked by the erstwhile Devendra Fadnavis government for the ambitious Bullet Train project. This was followed up by Deputy Chief Minister Ajit Pawar demanding an extension of two years for the GST regime in respect of compensation for state governments for deficit revenue collections. Pawar pleaded Covid conditions to justify his demand for extending the tenure of compensation for states by a further two years. The Union Government is unlikely to concede, according to a source in the GST department. He told shortpost.in, that “While the two year extension of compensation for states was accorded by GOI by consensus two years ago, the state governments were found wanting in the implementation of revenue enhancing measures as was mandated by the Central Government. You can’t have your cake and eat it too.”
In the season of biopics, the latest one taking shape is based on the life of Biscuit King, Rajan Pillai. Bankrolled by Saregama India’s film arm, Yoodle Films, Biscuit King will feature Malayalam super star, Prithviraj Sukumaran, directing and essaying the title role. Rajan Pillai got fame when Nabisco, the US biscuit and cookies maker was bought over by KKR in 1989 in one of the biggest leveraged buyouts for $ 31.4 billion. KKR after the buyout, started asset stripping the company and selling most of Nabisco’s business the world over, barring US. Rajan emerged as the biggest bidder for Nabisco’s Asia business along with his former boss Ross Johnson. After Nabisco’s acquisition came Britannia Industries in India. Rajan Pillai’s emergence at Britannia led to one of the biggest corporate wars between him and industrialist Nusli Wadia. Rajan paid for it with his life, ending up at Tihar Jail and dying a horrible death. Ironically, Rajan who escaped from Singapore was arrested for a crime he never committed in India. Tihar jail officials mercilessly beat him. The question being asked in corporate circles is whether Biscuit King will portray Rajan’s wife Nina Pillai’s version of the saga or Nusli Wadia and Sunil Alagh’s viewpoint. Whichever the version, this movie on the rise, fall and gruesome death of Biscuit King Rajan Pillai will attract huge eyeballs.
Fictitious character names turned household favourites, more popular than their real-life identities, like Tulsi (Smriti Irani – Saas Bhi Kabhi Bahu Thi), Mihir (Amar Upadhyay & Ronit Roy — Saas Bhi Kabhi Bahu Thi), Parvati Bhabhi (Sakshi Tanwar—Kahaani Ghar Ghar Ki) and Jassi (Mona Singh – Jassi Jaisi Kohi Nahin). None of these tele superstars struck it big in Bollywood like Shah Rukh Khan who similarly started his journey with the TV series Circus and Fauji. Another actor who carved a niche in Bollywood was the late Sushant Singh Rajput who shed his Pavitra Rishta image. Smriti Irani leveraged her popularity to launch into Indian politics. Balaji girl Sakshi Tanwar, hosts a cooking show on Epic TV and, will play one of two main leads in Tahira Kashyap’s film Sharmaji Ki Beti. Ronit Roy worked a security services business alongside doing TV serials and, focusses on the OTT sector. Amar, the original Mihir, continues struggling as actor and, after Bob Biswas features in Bhool Bhulaiyaa 2. Mona, screened in 3 Idiots and, will be seen in Laal Singh Chadda. Arun ‘Ram’ Govil and Dipika ‘Sita’ Chikhlia of Ramayan fame, and Nitin ‘Krishna’ Bhardwaj of Mahabharat fame did not strike big in Bollywood post their memorable roles. Does this mean these TV actors are trapped in their character as the audience are not able to accept them in the distinctly different roles enacted for the film industry’s reel world?
It seemed odd when Congress leader Jairam Ramesh posted a cryptic tweet “Right thing to do. He wants to be Azad, not (a) Gulam”, while also lauding former West Bengal Chief Minister Buddhadeb Bhattacharya who refused to accept the Padma Bhushan award. Incidentally, the award was announced only after getting due approval from the recipient. The Union Home Secretary had spoken to Bhattacharya’s wife who said “thanks.” Strangely Jairam politicised the award given to his senior party colleague Ghulam Nabi Azad but, had no issues when the Modi Government conferred the Padma Bhushan posthumously upon another Congress veteran Tarun Gogoi, the longest serving Chief Minister of Assam just a year ago in 2021. That announcement was made before the Assam assembly elections too. While honouring leaders from across the political aisle, Modi only emulated his predecessors PV Narasimha Rao and Dr Manmohan Singh. Rao honoured Morarji Desai with the Bharat Ratna and the UPA Government honoured Brajesh Mishra with the Padma Vibhushan. The award came on the day the Congress designated Azad on the list of star campaigners for Uttar Pradesh. Interestingly, other party colleagues Kapil Sibal, Anand Sharma, Manish Tewari and Shashi Tharoor welcomed the move. Was Jairam taking an aggressive stand because his RS term from Karnataka is coming to an end in July? Quite possibly.
After India’s one-day international (ODI) fortunes took a hit in the Krugerrand country recently, ‘Chinaman’ practitioner (left-arm leg spin and googly bowler) Kuldeep Yadav got a call up, to swing matches back in its favour, for the three-match home series against the West Indies in early February. Under skipper KL Rahul, India lost 0-3 to South Africa at Paarl and in Cape Town but, under fit-again captain Rohit Sharma, it will look to put it across the West Indies on the slow turners of the Motera venue in Ahmedabad, renamed as Narendra Modi Stadium. The unorthodox Yadav — who earned the sobriquet, Kulcha, bowling in tandem with right-hand leg spinner, Yuzvendra Chahal — was soundly thrashed by England batters in March 2021 on the flat tracks of Gahunje (Pune) off the Expressway. He went for 0/68 and 0/84 against England and when recalled for the series in Sri Lanka, he returned 2/48 and 0/55 at Colombo in July last. Yadav, after three very successful years in 2017 (22 wkts at 24.77), 2018 (45 at 17.78) and 2019 (32 at 34.69) has been on a downhill in the pandemic years. Now the selectors expect the Uttar Pradesh tweaker to tease and torment the carefree West Indian batters. He has taken 24 wickets at 24.92 in 15 ODIs against the West Indies from 2017 to 2019.
What does holding one-fifth stake in a company mean to the strategic investor? Wielding major influence on the running of the enterprise? Well, it depends on variable factors. Some investors are just happy to park their funds and, earn rich dividends as income. Others, however, seek a more active role in the running of operational affairs. More than anything else, the nature of the enterprise itself defines the role of a one-fifth shareholder. An equity stake of 21.28%, as on September 30, 2021, made DMart’s founder Radhakishan Damani a significant player in The India Cements business. The promoter group – N Srinivasan family — holds a 28.42% stake in the company. Operating a cement enterprise is no kids’ play. Given the very nature of the operating environment, the cement business makes for a heady cocktail which needs a customised management to run the enterprise. Also, the rough and tumble playground requires a combination of native intelligence and deep marketing mind as sine qua non to safely and securely navigate the playing fields. That is a catch that the Damanis appear to fully understand as also, India Cement’s illustrious history. The indefatigable never-say-die spirit of N Srinivasan at the helm with near-term excitements aplenty will make for a fascinating long-haul story! One thing is for sure, however. It is only headed for more interesting times.
What is the difference between a shrimp and prawn? The simple answer: both belong to different suborders of Decapoda, but are very similar in appearance and the terms are often used interchangeably in commercial farming and wild fisheries. Kings Infra Venture Ltd has gone a step further in dispelling another common notion: that prawns are bigger than shrimp. The Kochi-headquartered company has just created a world record by growing 80-gm L Vannamei shrimps – better known as the whiteleg shrimp – in its pond. These measure 210 mm, against a record of 230 mm in the ocean. Kings Infra – earlier Victory Aqua Farm – is looking at its shrimps attracting a premium in both domestic and international markets by providing sustainability and traceability certifications. This is special because Greenpeace International had added the whiteleg shrimp to its seafood ‘red list’ in 2010 with its risk of being sourced from unsustainable fisheries which contribute to the destruction of vast areas of mangroves. Explaining that the record-breaking growth was achieved in normal earthen ponds by applying proprietary protocols developed by his company’s R&D wing, Chairman & Managing Director Shaji Baby John says: “Being a technology-driven sustainable aquaculture company, we used only antibiotic-free feed, probiotics, and natural supplements including ingredients like curd, jaggery, turmeric, moringa leaves, garlic and tamarind regularly to improve immunity, disease resistance and growth rates.”
The exit of RPN Singh from Congress was anticipated, though the party officially called him a “coward”. Now it is left with only three MLAs in UP. A former Union Minister, RPN was apparently upset over the raw deal from the Gandhi siblings even after wresting Jharkhand from the BJP in 2019. A Doon School alumnus, he had high expectations from fellow schoolmate Rahul Gandhi but got only disappointment even as juniors like Ajay Maken and KC Venugopal were promoted as AICC general secretaries, while he remained AICC-in-charge till his last day. His aspiration for a Rajya Sabha seat was dashed by Venugopal getting the slot. The current developments were in stark contrast to the times when RPN first got elected as Lok Sabha MP from Padrauna in 2009. Then he received a lot of attention from Rahul Gandhi and was made Minister of State in Manmohan Singh’s Government. As for his future in the BJP, it is not clear what it holds? His contesting the Padrauna assembly seat is not certain, as he had won from there 12 years ago. However, his BJP entry has unnerved another key contestant: Swami Prasad Maurya. The latest buzz is the Congress may also lose another prominent leader Pramod Tewari and daughter Aradhana Mishra in two.
Getting a steady supply of drinking water is a problem not only in the most backward areas of any country, but in modern facilities, too. One such place has been the Mumbai High oil drilling platforms in the Arabian Sea. The offshore oilfield, about 75 metre deep in the water, was discovered in 1974 and the Oil and Natural Gas Corporation (ONGC) pumps up about 12 million metric tonnes (MMt) of oil a year from the 1,659 MMt the oilfield holds. The supply of drinking water for the officials and crew manning the drilling platforms 176 km away from Mumbai, however, has been a logistical challenge since production began in 1976. No longer: Maithri Aquatech, a Hyderabad-headquartered manufacturer of atmospheric water generators, has installed its machines on the oil rigs. “These are the first installations of their kind in the world!” says an excited Ramkrishna Mukkavilli, founder-chairman of Maithri, which has set up four AWGs after winning an ONGC tender. The entire system for these machines – which cost about Rs15 lakh each against the normal ones at Rs10 lakh – had to be specially designed to suit the conditions, Ramkrishna explains. The evaporation coils needed to be strong enough that they wouldn’t get blown away in the high wind velocity of nearly 150-180 kmph, while the entire machine was made of stainless steel to resist seawater corrosion.
The heart-breaking quest for jobs, both in the private and public space is now taking a dramatic turn from “gimme a job” to giving jobs thanks to the fast changing ecosystem of startups. Tamil Nadu for long the incubator of research through its IIT (M), and tech centres of learning has set an ambitious course to churn up the environment for creative startups. Leading the change is Shivarajah Ramanathan CEO, TN Startup innovations Mission. He is now eyeing the Trillion dollar dream of incubating viable ventures that are fair and inclusive. IIT-Madras Gopal Deshpande Centre (GDC) has set a flight path for youth to take wings, “nurture research for world class startups.“ Dr Gururaj Deshpande and Kris Gopalakrishnan (Infosys) are mentoring IIT Alumni to commercialise research. The theme, global think for local needs. GDC designed a very rugged boot camp of 8 weeks duration for investors and innovators. Eleven teams form a cohort, and each team is mentored to test the strength of the ideas. CMO of one such team, Suresh Srinivasan is upbeat about the National Award won by Zentron Labs, a post-harvest startup. The company has developed Hortisort, India’s first high-speed optical fruit grading system that sorts Apples, Oranges, Mangoes, Guavas by colour, weight, quality and freshness. This business plan of integrating technology is a boon for horticulturists. Who says don’t compare apples and oranges?
Andhra Pradesh Chief Minister K Jagan Mohan Reddy, on the back of his election promise, has got cabinet approval to carve out 13 new districts in the state each with its own swanky airport, to be completed by the Telugu New Year in April. With the AP economy burdened by people’s rising expectations, Jagan made a slew of announcements to keep people engaged and combat the building opposition onslaught about the state’s progress into an irreversible debt trap, sans any viable revenue generation scope. The joke doing the rounds of the state secretariat is that ‘Andhra Pradesh has turned into ‘Andhera Pradesh’. This probably explains why Jagan announced the development plans on January 21, 2022, pitching for the ‘One District One Airport” initiative and directed officials of the Infrastructure and Investments (I and I) department to expedite the development of the airports in all the 13 new districts of the state including, seven new airports in districts bereft of an airport as of today. Jagan is pulling out all the stops to get the Andhra economy back on track and, also plans to speak to India’s Prime Minister Narendra Modi seeking central assistance and the speedy clearance of pending projects. Jagan’s, and Andhra Pradesh’s future depends on how the beleaguered state’s turnaround comes about.
Age is just a number. But only for the fortunate few in cricket who continue to defy age – like 40-year-old MS Dhoni’s Dad’s Army winning IPL 2021 or Sachin Tendulkar’s masterclass in World Cup 2011 at the age of 38. For most, Age is the moment of Truth that could end their illustrious career. Sunil Gavaskar’s recent suggestion to make 24-year-old Rishabh Pant India’s Test captain; and earlier Virat Kohli’s wish (after the T20WC 2021) to have KL Rahul as vice-captain in ODIs while Rishabh Pant in T20Is have clear bias against the undisputed contender: Rohit Sharma, on account of his age. While the suspense over who will succeed Kohli as India’s Test captain continues, Sharma, 34, has started building the ODI team for World Cup 2023 – beginning with the home series against West Indies on February 6. Shikhar Dhawan, 36, is there too, bringing his heroics of three centuries in World Cup ODIs to complement Hitman’s six centuries, including five in WC2019. What Team India – with eight players aged above or around 30 — may now need are batters to cross the finish line: like in WC2011, Suresh Raina scoring 34 (28 b) with Yuvraj Singh 57 (65 b) to take match away from Australia in the QF. More than age talk, what’s needed is Fitness & Form – and a clear ability to perform in knockout matches.
From contemplating a degree in nuclear physics to wielding a megaphone is Rahul Rawail’s initial confession. In his book, Raj Kapoor: The Master at Work Rawail reveals about his visit to the big top with his school buddy Rishi Kapoor to ogle at Russian circus artistes who were participating in the shoot of Mera Naam Joker directed by the Showman Raj Kapoor. His family’s Bollywood connection (Father H S Rawail was a famous film maker) lands him an internship for the filming which melds into a coveted assistant’s job with RK. His sojourn with RK begins with the studio’s biggest flop and gets cemented with its hugest hit Bobby worth a lifetime of experience. He gives a ringside view into the making of these blockbusters and this is the most valuable part of the book where he shares intimate nuggets and anecdotes. There are stories about the Showman himself and other larger than life characters like Premnath whose bizarre antics are gleefully related. The legendary gourmet tastes of RK and his love of good food and drink are peppered throughout the book. Ultimately Rawail would go on to direct his own film for RK called Biwi O Biwi before embarking on his solo career which included blockbusters like Love Story, Betaab, Arjun to name a few. Rawail remains an important bridge between the movie moguls of the sixties and the present day.
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.