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Unique Model Binds Murugappa Group’s Extended Family, Just Compensation For Every Male Heir Is Done Equally?
What holds a business family together? Just about everything. But, when it entails an extended family, then the task become more daunting. One Chennai-based conglomerate discovered the right formula many summers ago, to navigate the business cycles smoothly while also keeping the assorted wings of the larger family well and truly satisfied. The Murugappa group employs a house-keeping entity that has largely been instrumental in fairly compensating male members of the extended Murugappa family. They may all be differently talented but, when it comes to compensation, each of them (read every male heir) is treated on par. This entity came in handy especially when the group established a Murugappa corporate board and went in for a group branding in the ‘90s. The board members and others in the family were largely paid compensation through this unlisted house-keeping entity. A public limited outfit, this house-keeping firm doesn’t include any family members as directors. It was structured in such a way to avoid action under the MRTPC lens. A little birdie tells us that female heirs in the family aren’t fortunate enough to enjoy identical benefits. That may explain the cause for the open rebellion demonstrated by Valli Arunachalam, whose father MV Murugappan, former executive chairman of Murugappa group, expired a few years ago. This family enterprise makes for a fascinating story, all the same.
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Is The Rift Between Didi And Nephew Abhishek Banerjee Widening?
Just before elections to 108 municipal bodies in February, Trinamool Congress Chief Mamata Banerjee has gone all out to empower party seniors. Didi’s decision came after protests over the candidates’ list in the Purba Medinpur district. Conscious of emerging differences between Abhishek Banerjee and senior TMC leaders, Mamta decided to act particularly upset over ongoing sparring between TMC chief whip in the Lok Sabha Kalyan Banerjee and her nephew. She announced that party MPs must consult Sudip Bandopadhyay while party MLAs likewise engage with TMC deputy leader Partha Chatterjee and Bengal unit chief Subrata Bakshi. Placing Sudip in charge of the party’s parliamentary formation is a major divergence considering TMC leader in the Rajya Sabha, Derek O’ Brien’s proximity to Abhishek. A miffed Abhishek slipped out of the TMC meeting as Mamata announced the organisational changes and subsequently joined the meeting via Skype from home. The nephew, credited with getting her re-elected for a third term, has allegedly told his aunt that any attempt to undermine him would weaken the party. Mamata is well aware that young Turk MLAs elected in 2021 pledge their loyalty to Abhishek, who has also clearly been pushing Didi to expand TMC voter base beyond Bengal.  So far, TMC efforts to capture the Goa assemblies and Tripura civic bodies have failed to yield success.
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Lucknow And Ahmedabad Will Join The IPL-15 Party Though Uncertainty Dogs Venue Options
The next blockbuster that will dominate the Indian cricket scene is the mega players’ auction for the Indian Premier League, the undisputed World No 1 Twenty20 league. This year’s IPL is set to start March 27 with 10 teams in all; the two additions being Lucknow Supergiants, for which the RP-Sanjiv Goenka Group (RPSG) will pay Rs 7090 crore for 10 years and, the Ahmedabad team for which Singapore-based private equity firm Irelia Company Capital Private Ltd (whose parent company is CVC Capital Partners) has committed Rs 5625 crore. While the BCCI will be richer by Rs 12,715 crore, it is yet to announce the venue where IPL15 will be held. IPL’s Governing Council Chairman, Brijesh Patel wants the tourney held again in the Gulf nations of Abu Dhabi, Dubai, Sharjah and Muscat as these venues successfully managed IPL-13, second half of the IPL-14 and the ICC World Twenty20. BCCI Secretary Jay Shah has said he will try his utmost to bring the league back to India. Now, with Covid-19 numbers dropping by the day, Maharashtra is touted as the single State venue for all the league games. The players’ auction is scheduled at Bengaluru on Saturday and Sunday (February 12-13) and franchises will be told about the venue, hopefully well in time, so they can plan and form their team selection strategy.  
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Mumbaikars May Dream Of Life That’s King Size, But BMC’s Rs. 46,000 Crore Budget Is Surreal Style, Not Real
As the BJP and the Shiv Sena led Maha Vikas Aghadi (MVA) square off for the BMC elections, the latter has announced an unrealistic high Rs 46,000 crore budget for Mumbai, the city that never sleeps. Ironically, in 2017 then BMC Commissioner Ajoy Mehta announced a mere Rs 25,000 crore outlay for Mumbai city and its suburban region, a Rs 12,000 crore reduction from the preceding year’s budget. When asked, Mehta had stated, “It was done to make spending more realistic. Earlier budget figures were much higher than what was actually spent. The capacity to spend was disproportionate to the allocated funds, even to the extent of our revenues (actually) generated. But the realistic budget from Mehta came a year after the BMC elections were held and the administration could politically afford to become realistic but, with elections for the BMC pie only days away now, not only unrealism but also, surrealism appears to be at play now with the whopping Rs 46,000 crore plan outlay that holds the promise of the sky for Mumbaikars and yet, may only fall short in terms of actual expenditure that takes place. A senior civic administrator told shortpost.in, “A lot of window dressing happens in an election year including double paper entries, due to the accounting format followed by the BMC, to make it look larger than life.”
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Will The Congress’ Gamble Of Naming Channi As CM Face Win Punjab Again?
The Congress may have boxed itself into a corner by declaring Chief Minister Charanjit Singh Channi as its poll face for Punjab. Many in the party couldn’t but agree with PM Narendra Modi who said in the Lok Sabha “I think you (Congress) have made up your mind not to come to power for the next 100 years”. Channi as the CM face is not the first time the Congress has opted for a non-Jat Sikh. Back in 1972, a Ramgarhia Sikh, Giani Zail Singh was its OBC Chief Minister. Channi became the obvious choice for being a Dalit but, the Congress may weaken its strong bonds with the dominant Jat Sikhs and Hindus as a consequence. The party’s Hindu leader Sunil Jakhar announced his withdrawal from active politics in apparent disgust while, Jat Sikh leader Navjot Singh Sidhu, who ended Captain Amarinder Singh’s Congress reign, has not opened his cards yet. Sidhu’s gameplan may now only commence after the polls as he was counting on Rahul Gandhi to opt for a clean image candidate as the CM face. The Gandhis stunned Siddhu and settled for sand mining scam tainted Channi instead. Looks like though the ED raids on Honey (Channi’s nephew) established the money trail, it also cemented Channi’s claim to the CM’s post for the Gandhi family.
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Chennai’s Corporate World Action Drama: Non-Family Member Takes Over As Chairman Of TVS Motors
All of a sudden, the Chennai corporate landscape is buzzing with action. It is witnessing some significant transformation. Indeed, coming events are casting their shadows before them (read SEBI ruling on splitting the CMD post). For the first time perhaps in its annals, a TVS group company will have a non-family member as chairman. Come April 1, TVS Motor Company will see non-executive director Prof Sir Ralf Dieter Speth becoming its Chairman. Promoter Venu Srinivasan will then be designated as Chairman Emeritus. Several summers ago when the TVS group chose to dilute its majority holding in its then joint venture, TVS Whirlpool, Suresh Krishna voluntarily gave up his position as the Chairman of the joint venture. Well, much water has flown under the bridge since then. Venu Srinivasan’s son, Sudarshan, in the meanwhile, has been inducted into the board of Coromandel International, a Murugappa group company. Sudarshan has joined the board of Coromandel International as an Independent Director. In an equally significant development, Srinivas Acharya, former managing director of Sundaram Home Finance, a subsidiary of Sundaram Finance, is being roped in to join the board of Hindujas’ housing arm. An able hand with enormous experience in the field of housing finance, Acharya can provide the Hinduja housing arm with deeper insights. Indeed, the Chennai corporate world is undergoing a churn
Chris silverwood_justin Langer
Player Power Lords Over World Cricket Coaches, Though Not In India Where BCCI Holds The Reins
The power of the player lords over cricket. It destroyed the coaching career of Justin Langer right after the team, under his charge, had won the T20 World Cup as well as the Ashes. Pat Cummins’ team won in double quick time and in the third Test, were only a wicket away from imposing another whitewash over England. Cricket Australia was bowing down to player power when it virtually forced Langer to resign. In England, Captain Joe Root kept his job despite the poor Test record but head coach Chris Silverwood, who held sway in all selection matters, got the sack. So too did the director of England men’s cricket, Ashley Giles. The opposite may hold true in Indian cricket when Virat Kohli was forced to throw in the captaincy but, then again, the force behind his ouster was former player Sourav Ganguly, now the influential head of the all too powerful BCCI administration. It may be recalled that Anil Kumble was sacked, on the wishes of the captain and players (just like Langer was), for being too intense with his coaching style. Player power is at an apogee in modern day cricket and signals the complete shift from the old days, when the administration could sack anyone at will. Whether that is good or bad, only time will tell.
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First Didi, Then Punjab’s Channi, And Now KCR Refuses To Receive Visiting PM Modi
When Prime Minister Narendra Modi landed in Hyderabad, on February 5, to inaugurate the ‘Statue of Equality’ commemorating 11th-century Vaishnavaite Saint Sri Ramanujacharya, Telangana Chief Minister K Chandrasekhar Rao skipped his airport reception, deputing his Minister Srinivas Yadav to stand-in for him. KCR only emulated West Bengal Chief Minister Mamata Banerjee, who started the trend a few months back and was copied by Punjab CM Charanjit Singh Channi, more recently. Political analysts say KCR lost out in terms of sheer optics the historic event could generate.  So why? Regional parties say Modi single-mindedly seeks to expand the BJP footprint across India. And for this, he goes all out especially, during election campaigning; even name calling political opponents and ridiculing them. Modi’s style was evident even during the West Bengal polls and, during the Delhi assemblies. Few can forget his “Didi O Didi” jibe at Mamta. Additionally, Governors in non-BJP ruled States are prone to political interference and both Didi and Stalin found out the hard way after their legislative bills were kept pending by their respective heads of state. Non BJP CMs in India desperately hold on to the federal structure refusing to be bulldozed by the Centre. The proposal to repatriate IAS and IPS officers from States to the Centre at will that is currently the flashpoint between states and the Centre.  
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Lata Didi’s Rakhi Ties Bonded Her To Modi And, Her Mother Was Gujarati Too
Legendary singer Lata Mangeshkar and Prime Minister Narendra Modi shared a very special bond. In 2013 when Modi was Gujarat’s Chief Minister, Lata Didi invited him to inaugurate a super-speciality hospital built in memory of her father Deenanath Mangeshkar in Pune. During the event, Lata Didi had said: “I pray to God that we see Narendra bhai as PM (someday).” She repeated her wish even before the 2014 Lok Sabha elections. In fact, on every Raksha Bandhan day Lata Didi unfailingly sent a Rakhi and her wishes to PM Modi and was anguished when unable to send her sisterly tie of Rakhi due to the Covid-19 pandemic restrictions in 2020. In June 2019, shortly after Modi’s thumping win in the general elections and second consecutive term as Prime Minister, Lata Didi wrote a letter in Gujarati to Heeraben, Modi’s mother, congratulating her son and and “my brother” for becoming Prime Minister for the second time in a row. The Gujarat Government has now shared this letter. Two years back a recording of Modi’s Maan ki Baat, also featured his conversation with Lata, wishing her on her birthday. In that conversation, Lata praised Modi, saying, “Modiji, you do not know what you are. You are doing so much for India.” Modi recalled that she also told him that her late mother Shevanti too was a Gujarati.

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.