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Good news for footwear enthusiasts in Chennai. The city will host the first Kickers store. Following a 30-year licensing deal with Royer Group of France, Kothari Industrial Corporation Ltd (KICL) is gearing up to set up its maiden Kickers store in Chennai tomorrow. The timing could not have been better for KICL, which has come under a new owner in Rafiq Ahmed and got relisted on the bourses. The opening of the Kickers store in Chennai comes within days of a significant development in the annals of KICL. A Qatar company belonging to the Royal family has just been cleared by the board of KICL to pick up a 10% stake in the Chennai company. Qatar-based F J Global Investment is owned by Falah Jassim J.M.AL-Thani, who is a director of Doha Bank and was also the founder of Qatar Airways. He was also a minister in the Qatar Government. This is a significant boost to KICL under Rafiq Ahmend, who has gone on a mission to revive the KICL and bring the iconic Kothari brand back to yester-year glory. The investment from a company owned by Qatar Royal family is seen positively by industry circles in Tamil Nadu, which is going the extra mile to woo foreign investment into the state. Significantly enough, KICL has also embarked on a consolidation move with the board approving a proposal to buy 30% stake held by Rafiq Ahmed in Phoenix Kothari Footwear Ltd, a joint venture that is setting up a non-leather footwear park in backward Perambalur district of Tamil Nadu. Well, things appear to fall in place for KICL as it seeks to make a strong comeback and regain its past glory.
It was something that the Congress couldn’t stomach easily. Perhaps the party was surprised that the Raj Kapoor family had chosen to interact with PM Modi. A day after the social media and TV channels were awash with PM Modi’s interaction with members of the Kapoor family, a very senior Congress leader ventured to put out a snarky social media post questioning the meeting. For some odd reason he completely chose to ignore the context of the meeting. “We have been asking PM Modi to visit Manipur. But he has instead found time to meet with Kareena Kapoor.” Soon good sense prevailed and he deleted his crude post. Guess he must have realised that his post was outright offensive. The Kapoor family had called on PM Modi on December 10 to invite him to the legendary actor-filmmaker’s Film Festival. The festival is to commemorate Raj Kapoor’s 100th birth anniversary, an iconic figure in Indian cinema who passed away in 1988. Ten Raj Kapoor films are going to be showcased across 40 cities in 135 cinemas .The Kapoor family, including actors Ranbir Kapoor, Riddhima Kapoor Sahni, Neetu Kapoor, Kareena Kapoor Khan, Alia Bhat and Saif Ali Khan met the PM. “This is a special day for us. We enjoyed the conversation. He spoke to us in a friendly manner. He made all of us feel very comfortable,” said actor Ranbir Kapoor. His cousin actor Kareena Kapoor Khan said that it was her dream to sit next to PM Modi and talk to him. “His energy is so positive and he is truly a global leader.” PM Modi inquired about the third generation of Kapoors — and autographed for Kareena’s children Tim and Jeh. December 14 marks the 100th birth anniversary of Raj Kapoor.
It couldn’t have come at a more inappropriate time than this. The day when the entire national media was riveted on the Parliament debates commemorating 75 years of Constitution of India and newly-elected Wayanad MP Priyanka Vadra Gandhi was making her debut speech in the House. For some odd reason the Telangana Police chose to arrest Telugu star Allu Arjun, protagonist in the Rs 1000-crore plus grosser Pushpa 2: The Rule. He was arrested in connection with the stampede incident at Hyderabad’s Sandhya Theatre, which resulted in the death of a woman. On December 4, a massive crowd gathered at Sandhya Theatre to see Allu Arjun, resulting in a tragic stampede. Revathi, a 39-year-old woman, died due to asphyxiation, and her 8-year-old son was hospitalised. While granting interim bail to Allu Arjun, the Telangana High Court affirmed Arjun’s right to life and liberty, stating that he cannot be deprived of these fundamental rights. While leaders cutting across the political spectrum came out in support of the actor, Telangana BJP leader and Union Minister Bandi Sanjay described the arrest of a National Award-winning actor as having been done to steal the spotlight. “Drama over delivery, diversion over governance — that’s the Telangana Congress government for you!” Arjun’s uncle and Andhra deputy CM Pawan Kalyan rushed to rally support for him. In the meanwhile, it will be interesting to see how Priyanka Vadra herself responds to the ham-handed manner CM Revanth Reddy handled the situation. He had after all managed to divert attention from her debut performance in the Lok Sabha to an avoidable law & order incident in Hyderabad.
To ensure the social welfare schemes reach the intended target group, West Bengal chief West Bengal chief minister Mamata Banerjee has rolled out a robust mechanism to ensure the effective implementation of socio-welfare schemes. This initiative aims to hold government officials accountable for supervising these projects and addressing inefficiencies that have marred progress in recent years. The state finance ministry has issued a notification, followed by the establishment of a dedicated help desk at Navanna to oversee information flow from block and sub-division levels. This initiative, aimed at curbing inefficiency and fraud, will require officials to physically visit project sites instead of submitting progress reports from office desks. The app will feature automatic geo-tagging, ensuring accurate location tracking of officials during field visits. During multiple administrative meetings chaired by CM, officials repeatedly failed to provide accurate updates on the status of ongoing schemes. This incomplete information has not only slowed down critical projects but also caused dissatisfaction among citizens. Officials, from BDOs to District Magistrates, must register using their mobile numbers. Reports will require OTP authentication and must include photographs of on-ground work. The app mandates regular updates, such as reporting issues in road construction, cleanliness, drinking water, and electricity services, along with distinguishing between simple and complex problems. The model draws inspiration from private sector practices, where geo-tagging apps track employee performance. The state’s new app is expected to enforce accountability among officials, address bureaucratic delays, and improve public service delivery.
In a move that may have surprised the Opposition BJP, West Bengal chief minister Mamata Banerjee appointed Radharamn Das, vice president of ISKCON Kolkata,to a 13-member board of trustees for the upcoming Jagannath Dham project in Digha. The temple, set to be a cultural and religious landmark on the shores of the Bay of Bengal, will be inaugurated on Akshay Tritiya on April 30, 2025. The Jagannath Dham Sanskriti Kendra, spanning 20 acres, is being developed under the supervision of HIDCO, an urban planning body under the state government. With an investment of Rs 250 crore, the project aims to replicate the grandeur of the Puri Jagannath Temple and serve as a significant pilgrimage and tourist attraction. This development comes amid ongoing political friction between Didi and BJP’s Opposition leader Suvendu Adhikari. It may be recalled that Nandigram where the temple is being built was the place where he had defeated Didi in the 2021 Assembly elections. Adhikari who is opposing the project on the ground that using public funds to construct religious structures is unconstitutional. He accused Mamata of attempting to win the Hindu vote bank as her minority appeasement has alienated Hindus. Mamata’s decision to include an ISKCON leader is seen as a strategic move, in light of recent attacks on Hindus in Bangladesh and the arrest of an ISKCON monk. Political analysts believe Didi is sending a message of solidarity to the Hindu community while subtly addressing concerns raised by the BJP over her government’s alleged minority appeasement policies.
Devajit Saikia is the Board of Control for Cricket in India’s (BCCI) representative in the International Cricket Council (ICC) as its Director. Saikia, who is the question that is being asked by those not acquainted with the BCCI’s governance structure, especially after the Justice Lodha Committee’s Reforms in Cricket report was accepted by the Supreme Court in 2016 and its Constitution was rewritten thereafter. The ICC Board is the all-powerful body in its Governance structure, and as a convention, the 12 full members of the ICC nominate its Presidents as Directors. Many stalwarts of the BCCI, like Jagmohan Dalmiya, Sharad Pawar, N Srinivasan and Shashank Manohar were on the ICC Board, and after the 2019 election, post the reforms, former India captain and BCCI President Sourav Ganguly was on the ICC Board. Ganguly was succeeded by the BCCI Secretary Jay Shah with the BCCI President Roger Binny as the alternate director in 2022, the same year when the former Assam Ranji Trophy cricketer and legal practitioner Saikia was elected as Jt. Secretary of the BCCI. People in the know attribute Saikia’s rise on the administration side of the game to his association and rapport with Assam’s BJP chief minister Himanta Biswa Sarma. Once it was announced that Jay Shah would take charge as Chair (Independent Director) of the ICC from December 1, 2024, quite a handful of names like Arun Singh Dhumal (former BCCI Treasurer and currently chairman, IPL) and Ashish Shelar (BJP President, Mumbai and BCCI Treasurer) emerged as a potential successor to Shah as BCCI Secretary. Saikia, will remain the BCCI Joint Secretary and perform the duties of the Secretary. But his nomination to the ICC Board has surprised many people.
Veteran leader Sharad Pawar has once again monopolised the centre stage following reports that a top leader of his party has held talks with a prominent BJP Union minister in Delhi. The political grapevine is buzzing with different versions since the meeting is believed to have occurred at industrialist Gautam Adani’s Delhi residence. In fact, Pawar started hitting the headlines on Thursday (Dec 12) morning as the news that his nephew Ajit Pawar and a couple of other NCP (Ajit) leaders had reached the patriarch’s residence. Ajit later said that being a family member, he had greeted his uncle on his birthday and nothing unusual should be read in the visit. Ajit was accompanied by Praful Patel and Sunil Tatkare, both very close to Sharad Pawar till the recent split in the NCP. The name of Adani added grist to the gossip since the industrialist had visited Maharashtra chief minister Devendra Fadnavis just a couple of days ago in Mumbai. The Adani group continues to BE target of Congress leader Rahul Gandhi and Shiv Sena party chief Uddhav Thackeray. In the past too, Adani has been meeting Pawar off and on. The presence of Fadnavis in Delhi on Thursday proved to be another trigger to speculate that the political scene of Maharashtra was likely to undergo another overhaul. Pawar’s hot and cold relationship with Prime Minister Narendra Modi has always remained an intrigue. Hence, his followers are unable to predict which way he can turn.
The Raj Kapoor family has finally come out together to celebrate the centenary year — 1924-2024 — of the showman of the film industry. Forty two year old Ranbir Kapoor who has been in the film industry for nearly two decades has taken the lead along with his cousin Kunal Kapoor to celebrate Raj Kapoor through his cinema. But was it too late to celebrate RK? Is the newer generation enthusiastic to watch his films? Ranbir Kapoor said, like his wife Alia, the young generation needs to know about the cinema of Raj Kapoor and one hopes he is successful through his stardom and initiative to keep RK’s legacy alive. But, is the film industry or the government really care about saving our heritage or culture, considering the government is calling the film industry as soft power? The hard truth is: why are our studios and banners not surviving be it Filmalaya Studio, Kamalistan Studio and Raj Kamal Studio which has limited work space. Raj Kapoor’s RK Studio, a famous landmark in Chembur along with his bungalow has been sold to Godrej Properties for constructing residential properties. It may be recalled that RK Studio was working on the rentals till the fire destroyed the entire heritage. Luckily film lovers are lucky his films were in the safe custody of NFAI. It is learnt that Ranbir Kapoor who is already a producer wants to turn director. So will he revive the RK Banner? As a part of the centenary celebration the entire RK clan met the Prime Minister Narendra Modi and conspicuous by his absence was Randhir Kapoor as he was not keeping well. In the end one only hopes that Ranbir Kapoor carries the great showman’s legacy forward.
This maverick and marauding scam tainted politician was once the acolyte of Lok Nayak Jayprakash Narayan. Former Bihar chief minister Lalu Prasad Yadav has burnt many bridges in his meteoric rise in politics. A stormy petrel, indicted for five scams, served jail term and is now out on a bail. He is once again in the news for his below-the-belt remark against his bete noire, Bihar chief minister Nitish Kumar who recently announced a Mahila Samvad Yatra to interact directly with women and evaluate the impact of his government’s programme targeted for women. When the media quizzed the RJD supremo Lalu about Nitish Kumar’s Mahila Yatra and his goal of winning all 225 seats in the forthcoming Assembly elections, the unstoppable motor mouth said, “Pahle unko aankh sekhne do” (let them get an eyeful of the women). Lalu is famous for double entendres and pithy talk. This chintzy, low end hit at both Nitish’s party and the women electorate set off a storm. Bihar deputy CM Vijay Kumar Sinha said, “It seems Lalu Prasad has lost his ability to comprehend, doesn’t know what he is saying “. JDU MP from Munger, Rajiv Ranjan Singh said, “Lalu is master of buffoonery”. Public discourse is an amalgam of many such talents. But certainly hitting below the belt and indulging in such loose talk shows the lack of grace and polish.
Shiv Sena leader Uddhav Thackeray’s plans to attend the Winter Session of the Maharashtra legislature beginning from December 16 at Nagpur will prove to be a game changer, his followers feel. Thackeray’s continued distance from the state legislative council proceedings over the past year are discussed by his party members in hushed tones since the aggressive direction needed to corner the BJP-led three-party government somehow lacks as far as his Sena is concerned. Council’s leader of the Opposition Ambadas Danve (of the Sena UBT) lacks the image and articulation which are vital for any LoP to humble the ruling side. Now that the new government led by Devendra Fadnavis has decided to appoint former CM Eknath Shinde as leader of the upper house, Danve’s limitations will be felt more vividly. Thackeray’s intermittent presence in the council ever since he resigned as chief minister in 2022 has been noted more due to his statements outside the house. He has hardly made any worthwhile speech on the floor. Therefore, his plans to remain present for the Winter Session have revived the hopes of his followers, who wish to witness his attacks against the BJP and the Sena led by Shinde. It is being recalled that Thackeray did not attend the recent three-day session of the legislature in Mumbai, held after the assembly elections. According to present indications, Thackeray will reach Nagpur well in time for the week-long session, which will be a stormy affair, focussing on settling political scores.
Good news for footwear enthusiasts in Chennai. The city will host the first Kickers store. Following a 30-year licensing deal with Royer Group of France, Kothari Industrial Corporation Ltd (KICL) is gearing up to set up its maiden Kickers store in Chennai tomorrow. The timing could not have been better for KICL, which has come under a new owner in Rafiq Ahmed and got relisted on the bourses. The opening of the Kickers store in Chennai comes within days of a significant development in the annals of KICL. A Qatar company belonging to the Royal family has just been cleared by the board of KICL to pick up a 10% stake in the Chennai company. Qatar-based F J Global Investment is owned by Falah Jassim J.M.AL-Thani, who is a director of Doha Bank and was also the founder of Qatar Airways. He was also a minister in the Qatar Government. This is a significant boost to KICL under Rafiq Ahmend, who has gone on a mission to revive the KICL and bring the iconic Kothari brand back to yester-year glory. The investment from a company owned by Qatar Royal family is seen positively by industry circles in Tamil Nadu, which is going the extra mile to woo foreign investment into the state. Significantly enough, KICL has also embarked on a consolidation move with the board approving a proposal to buy 30% stake held by Rafiq Ahmed in Phoenix Kothari Footwear Ltd, a joint venture that is setting up a non-leather footwear park in backward Perambalur district of Tamil Nadu. Well, things appear to fall in place for KICL as it seeks to make a strong comeback and regain its past glory.
This one is a well-known name in South India and a popular one at that. And, it has come out with a unique campaign. Well, it has launched a year-long Diwali-to-Diwali campaign. Christened “Your Happy Nest,” this campaign will see Good Home, a brand of the consumer product division of TTK Healthcare, embark on an innovative initiative to inculcate the culture of a clean home environment. Good Home is a Rs 100-crore plus brand, and one of the fastest growing brands in the TTK Healthcare portfolio. Under the “Your Happy Nest“ campaign, Good Home will clean one orphanage/old age home every week until next Diwali, using its cleaning and home care product range to deliver “clean, hygienic and fragrant homes.” To begin with, it has launched a campaign in a home for elderly ladies – Parivartan Mahila Sanstha – in Dombivali East in Thane district of Maharashtra and also in a children’s home – Udavum Nanbargal in Alathur in Thiruvallur district of Tamil Nadu. Good Home will provide the selected centres a year-long supply of cleaning and air care products and provide tips on maintaining cleanliness. The “Your Happy Nest” campaign will soon move to other states. The objective is to uplift these chosen homes and bring comfort and happiness to the residents. Well, they also serve who make the homes sweet!
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.
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.
It was a public-private partnership to provide water services on commercial terms. It was touted as one of the largest private investments in urban infrastructure in India. New Tirupur Area Development Corporation Ltd. (NTADCL) was incorporated in 1995 as a special purpose vehicle to improve potable water and sewerage infrastructure in Tiruppur through an integrated water supply and sewerage project. In 2000, Tamil Nadu Water Investment Company Ltd (TWIC) was formed as a promoter company to route all investments into NTADCL. The Tamil Nadu government owns a 46% stake in TWIC and IL&FS 54%. TWIC holds a 28.72% stake in NTADCL. Overall, the Tamil Nadu government owns 38.32% stake in NTADCL and IL&FS 25.88%. In 2003, Aidqua Holdings (Mauritius), Inc invested ₹90 crore in NTADCL for a shareholding of 27%. Post a corporate debt restructuring (CDR) in 2012, its stake came down to 15%. Aidqua has challenged the CDR before the Supreme Court and the case has been pending since then. In the meanwhile, NTADCL wanted Aidquo to disclose the details of significant beneficial owners (SBO), who exercise control in Aidqua. This was objected to by Aidqua. The National Company Law Tribunal (NCLT), Chennai, has now directed Aidqua to disclose details of beneficial owners. The concept of SBO was introduced in India with the objective to curb illegitimate activities and identify the natural persons controlling a corporate entity. An amended Companies Act provides for the disclosure of beneficial owners in a corporate entity. Well, the NCLT ruling could prove significant in the context of changing dynamics in the corporate world.
He looks very much like the boy next door. When he walks on the street, he doesn’t seem to get noticed. This lanky lad, however, is now sort of emerging as a star bowling member of the Indian test cricket squad. He became the first off-spinner in very many summers to pocket seven wickets in the first innings of the second test against the Kiwis at Pune recently. He went on to bag its maiden 10-wicket haul in the match. Not surprisingly, Chennai boy Washington Sundar finds berth in the Indian team that is set for a test series in Australia for the Border-Gavaskar Trophy. Australians are a tough nut to crack in their home pitches. The Indians require more than a bit of luck to bell the Australians in their home turf. Washington Sundar is acutely aware of this. Recently, the off-spinner made a beeline for Lord Parthasarathy at Triplicane, one of the oldest Divya Desam temples in Chennai, to seek HIS blessings for the ensuing test series in Australia. Washington Sundar was escorted by a temple volunteer for a quiet darshan of deities in this historical temple. Accompanied by his family members, Washigton Sundar had an archana darshan of all deities at the temple. Sundar needs a chariot of good luck. Who could give him that? Lord Parthasarathy, of course!
He is a simple man. He commands respect across the spectrum. He follows Carnatic music. He loves mathematics. He has gone on to establish the Shriram Group which has now become a household name in Tamil Nadu, especially. R Thyagarajan, popularly known as RT, is a visionary. According to him, “all science converges into mathematics and it is now increasingly the language of science.” The Shriram Group is synonymous with RT. Recognising his tall stature, Shriram Group has established the Shriram Group RT Chair in Computational Mechanics at the prestigious Indian Institute of Science (IISc), Bengaluru. The establishment of the Chair is significant for the group, as it reiterates its resolve to make significant contributions to the society through academic excellence and research advancements. The Chair will be awarded to distinguished faculty conducting frontier research in computational mechanics, supporting cutting-edge research across various fields within mechanical, electrical, electronic and computational sciences. The appointed Chair, a distinguished faculty member at the associate or full professor level, will focus on pioneering research that applies computational methods to address real-world challenges. “Areas of research may include the development of novel numerical methods, data-driven modeling of physical phenomena and the exploration of emerging computing paradigms such as quantum computing,” says a note from the Shriram Group. Well, RT the thinker is cut above many.
This one is intended to introduce a sense of transparency in price. Often, good intentions aren’t taken seriously. How else could one view the response of this particular industry? Farmers are upset that the tractor industry has chosen to disregard the stipulation to disclose MRP. The Consortium of Indian Farmers’ Association has sent several missives to the authorities in New Delhi. So far, its efforts have remained in the realm of futility. Non-disclosure of MRP by manufacturers, according to it, is leading to overcharging small farmers. No doubt, New Delhi has issued several directions to the manufacturers in the past. But this has not yielded any positive result. During 2022-23, an estimated 944,000 tractors have been sold. In 2023-24, the number reportedly stood around 874,504. There are over one-and-half-dozen domestic and four multinational companies. The price variation is reported to be between Rs150,000 and Rs175,000, depending on the horse power. The non-disclosure of MRP affects farmers in very many ways. What has upset the association more is the fact that the farm gear makers across the board don’t disclose MRP. A farmer-friendly approach calls for a quick policy decision on MRP disclosure for agriculture machinery. Is Delhi listening?
This one has been in the limelight since the early 90s when the Ruias of the Essar group bought a little over 65% shares, cashing in on the internecine feud between the four promoter groups. When Ruias found resistance to their entry into Tamilnad Mercantile Bank (TMB), they exchanged the shares with the serial entrepreneur C Sivasankaran for telecom licence for Delhi circle. But the going was tough for Sivasankaran too who was forced to return the shares to the Nadar community members, who could buy back only a part of his shares. Subsequently, 43% of the shares were reportedly acquired by a New York-based organisation using various local and foreign firms as fronts. This acquisition has since been disallowed by the Reserve Bank of India which had asked the Enforcement Directorate to probe foreign exchange violations in this case. This lot of shares remains a disputed one. Since then, much water has flown under the bridge, and TMB has also become a listed organisation. Now, TMB is back in the news now for a different reason, though. An unrest is apparently brewing over a new HR (human resources) policy which seeks to introduce the concept of CTC (cost to company). Opposing the move, TMB Employees’ Union, affiliated to AIBEA, has warned the management of industrial action. With key office-bearers of the union placed under suspension, the face-off at TMB appears to be escalating. TMB just can’t be out of the limelight, it appears!
Are we driven to autopilot mode? Encircled by artificial intelligence and social networks, it appears that we are pushed into autopilot mode. What is the way out? Mumbai-based Dwarakanath Soundararajan, who promoted Neurosymfony Technologies Ltd, has hit upon a unique solution. A software engineer with deep expertise in web application development and Machine Learning, he has launched a web app that offers much-needed pause — a space for intentional reflection and cultivating a healthy information diet. He has launched www.sphatika.cloud, a structured spiritual journal and deep-thinking web app. It is designed to help one track his/her life’s goals based on yogic principles, specifically the pancha kosha theory, focusing primarily on the Vijnanamaya kosha — The Wisdom Sheath. The app also encourages cultivation of other koshas through spiritual practices. Designed for individuals seeking personal growth and self-awareness, the app serves both as a tool for structured reflection and a guide for pursuing life’s dreams. Its unique blend of spiritual principles and goal-oriented journaling makes it an ideal companion for those who value introspection while striving to achieve tangible results in their lives. Graduated with a Master of Science in Electrical Engineering from University of Texas at San Antonio, Soundararajan is now focused on creating a social network for spiritual health management.
It is reportedly the fifth busiest airport by passenger traffic and aircraft movements in India. It is also the third busiest airport by international traffic. In 2023–24, it handled over 21 million passengers. Well, the Chennai International Airport is turning out to be hectic by the day. Handling such heavy traffic and facilitating customs processes prove a big challenge for the authorities. Well, the government is quite aware of this. The Ministry of Finance has decided to appoint approved valuers for assessing gold, silver, jewellery and precious stones at Chennai International Airport. It has already come out with a notification inviting nominations for a panel of valuers responsible for assaying and valuing precious items for both accompanied and unaccompanied passengers, as well as for issuing export certificates. The appointed valuers will also handle the valuation of seized or confiscated goods. One of the requirements for appointment is that they should be available at any time. Qualified assayers, valuers or jewellers affiliated with recognized associations are eligible for submitting applications. “The assayer/valuer is required to present himself /herself before any adjudicating authority / appellate authority/ courts to give the evidence/ produce the relevant records, as and when required,” it said. A valuable initiative, it appears!
It is now turning out to be a full-blown legal 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. In a fresh twist to the escalating tension between the two, TAFE is understood to have 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. It had also sought interim injunctions restraining Massey Ferguson Corporation and their representatives from interfering with TAFE’s exclusive use of the MF brands/trademarks in any manner and from representing themselves as the owner/proprietor/rights holder etc of the Massey Ferguson brands / trademarks pending disposal of the suit. Both sides standing steadfastly on their stated positions, the issue is attracting considerable attention. Far from being a dispute between two partners, the imbroglio has assumed a lot of implications for cross-border investment between the two countries.
Women’s safety is an often-spoken subject. Yet, the assault on women finds constant notice in the media. Has there been a practical way to end this? Not really. But, this UAE-based organization is coming out with a unique campaign. In a first of its kind initiative, Secure Cam, a security surveillance and IT solutions provider, will be launching the “Secure Our City” campaign. A novel effort, this will see Secure Cam organize a charter flight by 100 women from various walks of life at the Chennai International Airport. The DGCA has reportedly approved the in-flight introduction of the “Secure Our City” campaign on December 10. The flight will take off at 11:35 am and return at 13:05 pm. Ostensibly, the flight is intended to raise awareness of women’s safety. Rijoy Thomas, Chairman and CEO, is of the view that an unconventional launch method will spread the message to a wider audience effectively. An opportunity will be given to women from various BPL social groups to take a plane. As a part of the campaign, Secure Cam plans to provide free installation of security surveillance systems (CCTV) for more than 10,000) buildings across a city. Chennai will be the first city, and the firm plans to cover five cities in all. To begin with, Secure Cam will be honouring 100 women by offering complimentary CCTV installations. One small step towards a giant effort, it appears.
The ongoing industrial dispute at the Samsung facility along the Chennai-Bengaluru National Highway is drawing quite an attention. Since it is spearheaded by the Left-affiliated CITU (Centre for Indian Trade Union), the face-off at Samsung has elicited an extraordinary interest both at the state and national levels. The reasons are not far to seek. After all, the CITU is backed by a Left party, which is in alliance with the ruling DMK in Tamil Nadu. With New Delhi giving an advisory to the Stalin government to resolve the Samsung imbroglio quickly, the multi-dimension to the face-off is not missed. The Stalin regime, in the meanwhile, managed to cobble together a tri-party pact between the State Government, management and the non-striking workers on issues such as salary hike and others. The leaders of the CITU have, however, insisted that the union must be recognised. Even as they remain steadfast on this demand, the CITU union has reportedly sounded out the CITU-affiliated workers in Chennai and other areas to donate funds to support the cause of striking workers at Samsung. This advisory on fund mobilisation has become a topic of intense discussion among the labour community in the Chennai region. Coming as it did at an inopportune time when there is a concerted effort to make India the manufacturing hub in the wake of a fast-changing global geo-political dynamics, the Samsung fracas seems to have an upsetting impact.
In a globalised environment, business is not just about buying and selling. It is also not just about demand and supply. It is much more than all these. It’s a tool to push geo-political influence. Is there a foreign hand in the labour face-off at Samsung plant near Chennai? The Left union represented by CITU is spearheading an industrial action at the Samsung plant, demanding the recognition of its union among other things. In the midst of the face-off with the management, New Delhi has advised the Tamil Nadu Government to amicably resolve the labour imbroglio at Samsung. Post pandemic and especially in the wake of constant border skirmishes with Beijing, New Delhi has been making constant effort to pare dependence on Chinese products. Mobile devices especially of the Chinese make are sought to be controlled in the marketplace. Viewed against this backdrop, the industrial action at Samsung is viewed with more than cursory interest. And, the CITU entry into Samsung has raised considerable disquiet among the administration at different levels. Also, it coincides at a time when New Delhi is working hard to woo global investment in the wake of China plus one strategy adopted by nation states. The advisory to the State Government on Samsung assumes significance if one reads it in the context of CITU and its well-known leanings.
With the creator economy in India experiencing significant growth, driven by a multitude of platforms and an expanding community of tech-savvy individuals, influencer-marketing has proved to be the fulcrum for brands to succeed. The influencer-marketing industry is expected to grow by 25% annually. Influencer.in, a well-known influencer platform in the country in association with Social Beat, has just come out with Influencer Marketing Report 2024, its fourth edition. Significantly enough, the report finds the rise of mid-tier influencers. While Instagram has emerged the top choice for both creators and brands, LinkedIn appears to have a low adoption rate among creators at 4.4%. This is in sharp contrast to a 19.5% adoption rate by brands, which use LinkedIn for influencer marketing. Brands have now to go that extra bit to onboard creators to this platform, especially those capable of delivering professional content. The report has articulated the need for brands to recognize the underutilization of YouTube Shorts, with 75% of creators using short-form content for engagement. Today, over 40% of brands spend more on influencer-marketing. Yet, budgetary constraints limit the partnership between the creators and brands. “There is a need for brands to move beyond transactional relationships, recognize the power of creators and empower them with creative freedom,” the report said. If this has to happen, the creators have to align with brand objectives while showcasing their unique value proposition for more authentic and engaging campaigns. The key for a rewarding relationship between creators and brands lies in being adaptable, innovative and aligned with the values of an increasingly discerning audience, according to the report. Together, as Helen Keller said, they can do so much!
Over 60 years of partnership is a rarity in the corporate world, especially if it is one between an Indian company and an American firm. Both have holdings in each other. But their relationship appears to be coming apart now. The alliance between Tractors and Farm Equipment (TAFE), an Amalgamation group company, and AGCO Corporation of the U.S. has hit a nasty bump. The trigger for widening chasm between the two was the decision in April of AGCO – nay the management led by its Chairman and CEO – to terminate 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. AGCO on Monday (Sep 30) confirmed the termination. This forced TAFE to file a contempt petition in the Chennai commercial court. Separately, it has moved the Madras High Court, asserting its ownership right to Massey Ferguson brand. TAFEs hold a little over 16% stake in AGCO, the management is pushing back the Indian investor to secure its own interest. With agency capitalism on the rise in the American corporate world, the beneficial shareholders are a marginalized lot in the U.S. The fracas between the two must be read in the context of the “standstill pact” with TAFE. That pact – in vogue for several years – was extended for a year in April this year. That pact allows for freezing of TAFE holdings. Is there a link between the termination move and the standstill pact? Is the termination row with TAFE just a diversionary tactic by AGCO management to sweep under the carpet the nagging governance issues? Is this a case of simply checking the rise of Indian multinationals?
The timing must be worrying. After all, chief minister MK Stalin is working hard to convince global companies to set up shops in Tamil Nadu. During his recent visit to the U.S., Stalin set the stage for the return of Ford to Chennai. The Ford plant near Chennai remains closed ever since the American company re-jigged its global operations a few years ago. Deep south in Thoothukudi (Tuticorin), the copper smelter plant of Sterlite moved into the pages of history after the Supreme Court ordered it shut. Read against these backdrops, Stalin has been going the extra mile to woo global investment into the State. Coming as it does at this juncture, the industrial strife at Samsung Electronics situated in the Sriperumbudur corridor along the Chennai-Bengaluru Highway is causing considerable anxiety in the power corridors at St George Fort. The workers of Samsung Electronic have been on strike since September 9, seeking recognition of their new union besides listing out several demands. In the post-liberalization era, the collective bargaining power of the unions is either conspicuous by its absence or compromised consistently. Not surprisingly, the power of the unions has considerably marginalised. So much so, Infosys’s founder Narayana Murthy could even articulate a 70-hour work week to boost India’s economy. The labour impasse at Samsung has two sides to it. Surely, it could have a negative repercussion on State’s effort to entice global investment. Yet, it also gives a clue or two to the increasing stress in industrial relationships due to rapid industrialisation sans human touch.
The corporate world in the city of Chennai is ever exciting. Yet, the industrial groups in Chennai are always dubbed as conservatives. This is far from the truth, however. This company from the Murugappa group was, perhaps, among the first in the post-liberalisation era to daringly make an open offer to acquire Wendt India in early 90s. Much water has flown under the bridge since then. Today, each constituent of the Murugappa group is chalking out its own aggressive growth path. September 16, 2024 was a hectic day for Carborundum Universal Limited (CUMI), a leading materials sciences engineering solutions provider headed by MM Murugappan. It announced a couple of deals. First, it said it had entered into a Purchase Agreement for acquiring 100% membership interest in Silicon Carbide Products Inc through a special purpose vehicle at an enterprise value of around Rs 56 crore. SCP specialises in producing high quality Nitride Bonded Silicon Carbide (NBSiC) products. It has also announced a deal with Amplus Energy Solutions PTE Limited, Singapore, and Grian Energy Private Limited (GEPL) to invest Rs 8 crore in GEPL having its registered office at Okhla Industrial Phase, aggregating to 4.19% in its equity capital for accessing the contracted capacity of around 10 MW in the captive power plant of GEPL. This particular investment is expected to aid CUMI source clean green energy, thereby reducing the carbon footprint. Trust CUMI to stay contemporary!
A new star has joined the Indian insurance galaxy! Galaxy Health Insurance Co Ltd is the new addition. The birth of Galaxy signals the re-entry of yet one more family of the erstwhile TVS group into the insurance space. Significantly enough, this happens a few years after the formal legal separation of four families of the erstwhile TVS group. Galaxy Health Insurance is promoted by Venu Srinivasan and his family. V Jagannathan, former CMD of United India Insurance Company and the founder of Star Health & Allied Insurance, is the co-promoter. Industry stalwart G Srinivasan, former head of United India Insurance, is the MD & CEO. The Galaxy board comprises Dr Sai Satish, a renowned cardiologist, and Sudarshan Venu, MD of TVS Motor Company. Galaxy Insurance is all set to commence its operations shortly. Insurance business is nothing new to the Chennai-based TVS Group. It was the owner of Madras Motor and General Insurance before the industry’s nationalization. After nationalization, Madras Motor merged into United India Insurance. Subsequently, in the post-liberalization era, Sundaram Finance, initially promoted by Madras Motor, launched Royal Sundaram Insurance, a general insurance company. Ironically enough, two former heads of United India Insurance will be guiding Galaxy Health Insurance to make a mark in the space. The size of the Indian health insurance sector was estimated at Rs 1.17 lakh crore in FY 2024, and is currently growing at a CAGR of 20%. Post the legal separation, assorted organisations who once formed part of the erstwhile TVS group are now freely exploring the freedom of opportunity, it appears.
The Chennai-headquartered Shriram Group has become a bone of contention between NCLT and IRDA. One of the largest financial services companies in the country underwent a series of reorganization in the not-so-distant past. Ostensibly, the objective was to un-clutter its cross-holdings to usher in a simplified structure. By doing so, it sought to consolidate its focus on its core business. The restructuring process also involved two group companies — Shriram Life Insurance Company Ltd and Shriram General Insurance Company Ltd. As part of the process, the separate investments of Shriram Capital in these two insurance ventures were demerged into two SPVs (special purpose vehicles) – Shriram LI Holdings and Shriram GI Holdings. These investments were described as businesses while setting in motion the demerger process. This was done mainly to address the taxation angle. Within a year or so of the formation of these two SPVs, a move was initiated to amalgamate these two with the Shriram Life Insurance Company Ltd and Shriram General Insurance Company Ltd. The NCLT in Jaipur (where Shriram General is headquartered) and NCLT in Hyderabad (where Shriram Life is headquartered) heard these cases for approval. Insurance regulator IRDA raised objections to the amalgamation at Jaipur NCLT. The IRDA insisted that it had sole powers to approve since the merger related to the insurance entity. The Jaipur NCLT, however, declared that a merger of a non-insurance company with the insurance firm falls within the purview of the Companies Act, and, hence, IRDA has no power. The NCLT Jaipur suggested that only transfer of shares would come under the Insurance Act. In this instance, the amalgamation will result in the issue of fresh shares only. Hence, the NCLT Jaipur is convinced that fresh share issue comes under its purview only. The amalgamation move, no doubt, has the NCLT nod. But the NCLT Jaipur order has a lot to ponder over for the IRDA. Consequent to the NCLT Jaipur...
Six decades have gone by since it was incorporated in 1959 as a company with charitable objects under Section 25 of the Companies Act, 1956 (now Section 8, Companies Act, 2013). Ostensibly, it was set up with the object to promote the spread of knowledge across assorted areas – such as politics, culture, art, history, sports and the like – and disseminate news to the general public both about Indian and foreign affairs. United News Of India (UNI) is a multilingual news agency. Once upon a time, it was one of the largest news agencies in India with several hundred subscribers across the length and breadth of the country. Today, it is a shadow of its past. Struggling to survive, UNI has now come under the IBC (Insolvency and Bankruptcy Code) resolution process. A process to invite resolution was initiated in August last year. However, based on a decision taken by the Committee of Creditors, a “Round 2” of the entire Resolution Process for inviting EOI (Expression of Interest) for submission of Plans has been now initiated. With just about 175 employees and revenue of less than Rs 7 crore, this once iconic news agency is on the verge of extinction. With the whole media industry going through tough times, UNI is hoping for a light at the end of the tunnel. Will the resolution process throw up a Good Samaritan? Fingers are crossed, indeed.
Now that N Srinivasan-headed India Cements has changed hands, the focus is clearly on what will happen to Chennai Super Kings Ltd. Once a division of India Cements, CSK was spun off into an independent entity following the conflict of interest issue. Post-India Cements sale, the focus obviously has turned to CSK. Where is it heading? Well, Srinivasan and his family have now consolidated their holding in CSK. They have increased their stake in CSK to nearly 42% from just above 28% in March 2023. The promoters now hold 158,016,303 shares. They had 86,726,373 shares in March 2023. The equity share has a face value of Rs 0.10 (ten paise). CSK Ltd. is the owner of the Chennai franchise of the IPL (Indian Premier League) T-20 cricket team. With the player auction for the upcoming IPL season coming up soon, the consolidation of holdings by the Srinivasan family in CSK reflects the commitment and passion of the promoter group to the cause of cricket. Not surprisingly, the board of CSK has decided to elevate K Viswanathan, popularly known as Kasi, a close loyalist of Srinivasan, as the managing director for a three-year term. Well, the context may have changed following the sale of India Cements. Srinivasan and Co, nevertheless, is focussed like a blinkered-horse on furthering the cause of cricket.
Quarter century is indeed a cause for celebration. Why not? For, it has come a long way and is now seeking to carve out a new identity for itself. With a portfolio of close to 50 projects spanning over 24.4 million square feet, primarily in Bengaluru, and Chennai, and Kolkata, Shriram Properties is gearing up to pursue a new path. Many in Southern India often relate this to the indomitable spirit of R Thyagarajan, the founder of the Shriram Group. An iconic name in Tamil Nadu, especially, the Shriram group has gone on to hit national headlines with a series of reorganisation. Today, the group is prominently known in the financial services space. As it gears up to chalk out a hectic growth path, Shriram Properties is ready to step out of the shadows of the Shriram group. Founder Thyagarajan is ever ready to acknowledge the fact Shriram Properties is largely the creation of Murali Malayappan, its Chairman and Managing Director. As Murali is preparing to take control of the company, Shriram Properties has chosen to have its own logo. This signals its first step towards having an independent identity. Yet, claims to be a part of the Shriram groups in its advertisements. Yet, the logo change signals the transition away from the Shriram group for this company conceived and nurtured largely by Murali. Shriram Properties, perhaps, is among the earliest organised players to get into the realty field. As he tries to lay a new road for Shriram Properties, Murali has a definite task on hand.
Vidal TPA is one of the leading health services management firms and amongst the world’s largest third-party administrators. It has a huge presence in India with over 35 million members and 12,000+ empanelled service providers such as hospitals, diagnostic labs and clinicians. Every year, it processes approximately one million claims and 800,000 pre-authorization requests. It claims that it is an early technology adopter. It reportedly oversees the well-being of over 180 million lives across India, spanning 28 states and 800 cities. It has over 40 offices nation-wide. A change appears to have happened at Vidal TPA. This has, perhaps, forced public sector New India Assurance Ltd to discontinue the services of Vidal TPA with effect from 1st October, 2024 from its Retail Health Insurance Policies. “We have made necessary modifications in our system,” said New India Assurance in a communication to its policy-holders. Surprisingly enough, New India Assurance hasn’t given any reason for discontinuing the services of Vidal TPA. However, grapevine tells us that Vidal TPA has changed hands, and reportedly come under the fold of a competing private entity. Well, the discontinuance of Vidal has put many policy-holders of New India Insurance in a spot of bother. Hopefully, the New India Assurance will quickly put in place a new arrangement without any inconvenience to the policy-
What is the conflict of interest? How do you define it? It defies a strict definition. Nevertheless, it lends itself for varied interpretations. When India Cements chairman N Srinivasan was heading the BCCI (Board for Control of Cricket in India), the conflict of interest issue hit the peak and he was forced to quit his post. The conflict of interest issue assumed gargantuan proportions when he (rather India Cements, the company promoted by him) was also the owner of the Chennai franchise of the IPL (Indian Premier League) team, Chennai Super Kings. The conflict of interest issue in this instance became a full-blown legal war and moved up to the highest court of the country. The term conflict of interest has become very popular thanks to the squabble in the cricketing world in the context of the ownership of the IPL world by a BCCI functionary. Are we not witnessing this in a different field now? The country’s leading lawyer Kapil Sibal is now appearing for the West Bengal government before the Supreme Court in the doctor rape-murder case that has shaken the whole country. He was part of the Congress party but now he is an Independent Rajya Sabha MP. He is also a Member of Parliament, which frames laws to protect women. He wears multiple hats. Is he not bound by any conflict of interest constraint? How strictly can he quarantine each of his roles without necessarily stepping into the conflict of interest terrain? A purported letter terming the incident “symptomatic malaise” and signed by Kapil Sibal under the letter-head of Supreme Court Bar Association (SCBA)is in circulation. A counter letter is also now in circulation purportedly signed by a former president of the SCBA, which questioned Sibal on the legitimacy of issuing such a letter under the guise of SCBA resolution and also his subsequent decision to appear for the West Bengal Government in this case. When one is wearing contradictory hats, what kind of a message will that send out down the...
The city of Chennai is known for a robust ecosystem that fosters family business. Traditional family businesses are dime a dozen in this part of the world. They have contributed enormously for the development of Tamil Nadu, in particular, and the country as a whole. Formidable business groups such as TVS, Murugappas, Amalgamation, Sanmar, India Cements, Ramco, Rane, Apollo, the Hindu and the like have all become iconic names in Chennai. An amalgamation of events – opening up of the economy, expansion of families, intense competition et al – has brought tough challenges to the family businesses. Not surprisingly, a wind of change is sweeping the Chennai business families. The Chennai corporate world was caught by surprise when TVS Sundram Fasteners Pvt Ltd, which had 48.36% stake in Suresh Krishna–headed Sundram Fasteners, sold 32,95,500 shares of Re 1 each at a whopping Rs 1,381 apiece. Post the dilution, TVS Sundram Fasteners will hold 46.79% in Sundram Fasteners. The dilution was ostensibly to help one of daughters of Suresh Krishna to raise funds for a new venture. Observers see in the dilution a kind of `family arrangement’ that has sort of provided some sort of an exit window to a family member in the business. Not long ago, there was a similar `family arrangement’ which saw a “non–compete family arrangement” between Venu Srinivasan, his wife Mallika Srinivasan and their kids. Much earlier, the Murugappa group inked a `family arrangement’ with one of the female members of the group – Valli Arunachalam – who had gone public, demanding either a role in the business or fair compensation. It took several decades for the four families that formed part of the larger TVS group to go their separate ways legally. The TVS model for `family arrangement’ appears to be a useful guide for many `family arrangements’ that are increasingly likely in the new–normal family business environment. Maybe, the Murugappas and Apollo have a lot to ponder over.
Winds of change are visible here. And, this change must bring a world of good to this organisation, which had almost slipped into oblivion. Kothari Industrial Corporation (KICL) is turning over a new leaf with a fresh management team. It has put the organization firmly back on track. A non-leather footwear park at the backward district of Tamil Nadu is already under way. With focus fixed on beefing up domestic production, this new team has gone at an hectic pace in putting together multiple alliances to make the upcoming park a role model for the country. Managing Director Jinnah Rafiq Ahmed is consumed by a passion to bring the past glory back to this once iconic organisation in the Dravidian land. Under his captaincy, KICL has already returned to the stock market following the re-listing of its shares. Right now, Jinnah Rafiq Ahmed is leading the KICL management with a deep sense of ownership! As he gets into a mission mode, KICL has just inked an alliance with OTB Industria e Comercio de Componentes e Technologia Ltda, (OTB) Franca of Brazil to set up a joint venture company to manufacture and market invisible pens and innovative solutions for shoe components. The joint venture will also explore the possibility of making UV (ultra violet) lights, which will help in identifying the marking. For the joint venture – Kothari OTB India Limited – the complete technology will come from the Brazilian partner. The Indian partner will hold majority shares in the joint venture. Jinnah Rafiq Ahmed is determined to use KICL as a fulcrum to provide jobs to women in backward areas of Tamil Nadu.
Life is a long-haul race. Those who stay on course win the ultimate accolade. A quitter never wins. So said the legendary Indian cricketer Sunil Gavaskar in his book Sunny Days. Ask Rajiv Reddy. He will gladly vouch for these. Just back from the Olympics extravaganza in Paris, the indefatigable Reddy has retained the Squash Champion title in Masters’ category at the 80th National Squash Championship in Mumbai. Age has never been a factor for him. But Rajiv Reddy is all passion-driven. He had taken to the sport when he was 36 years old, just after he had become a member of the MCC in 1987. Since then, it has been a one jolly good ride for him. In 2000, he went on to win his first national championship title in the over-45 year category. Since then, titles came to him in rapid succession. In 2019, he won the title in the over 65-year category, instituted only that year at the championship. Age is a mere number, said Hema Malini once. An ever-fit Rajiv Reddy, who sports a permanently friendly countenance, is an age-defying sport personality. If his enthusiasm is anything to go by, this ever-green sports person has an unalloyed propensity to ever stay wedded to the game of Squash. A player, referee, coach and what not, Rajiv Reddy is an all-encompassing sports personality. Staying in the game permanently is what makes him a role model for young ones in the sporting community.
In the modern business world, they play a critical role. The entire community of stakeholders in a corporate entity look for their views. Much of the decisions – of stakeholders across the canvass – are often guided by their views. The ratings of the raters are critical in the emerging business environment, which is increasingly turning riskier due to very many imponderables. Their rating can decisively impact – either way – the growth and development of any entity. Well, rating agency CARE has put the ratings assigned to the bank facilities of The India Cements on rating watch with positive implications. The CARE move comes close on the heels of the N Srinivasan-led promoters selling their stake to Aditya Birla Group-owned UltraTech Cement. No doubt, the stake sale has happened. But the operating environment remains what it was prior to the sale of sake by the promoters. A formal change of ownership will have to wait for clearances from assorted regulatory and other entities. CARE has taken a proactive view already. Sources say, CARE has removed the non-cooperation clause as non-applicable. It has indicated that it will review the ratings once all clearances are in place. India Cements has bounced back to profit track with Rs 57.45 crore net profit in the first quarter ended June 2024 against Rs 74.87 crore loss reported in the same period last year. Net profit is due to profit from sale of Parli Grinding unit to UltraTech. The ratings could cut both ways. That’s why care has to be exercised while giving a rating. This time around CARE has given a positive spin on India Cements, which has come under Birlas.
The advent of the Internet and the growth of digital space in its wake has turned everything topsy-turvy. The media world, especially, has undergone an unimaginable metamorphosis. The way news is consumed these days has ensured that the print version of the media world struggles for ever. If that is so for dailies, the predicament of the magazines is unimaginable. Not just the consumption behaviour has changed. The speed of the information dissemination has increased manifold. All these have left a big question mark on the sustainability of the print media of assorted kinds. This one has been in existence for over half-a-century. After the demise of its founder late S Viswanathan, this Chennai-based business publication is set to disappear into the pages of history. Promoters have announced that September 2024 will be the last issue of the Industrial Economist, which has always focussed on the growth and development of the corporate world, especially, in the south. An industrious person with a blinkered-horse like focus, the late Viswanathan tried his best to rejuvenate the Industrial Economist which was launched in 1968. The changing media landscape, rising costs and declining advertising revenue have all conspired to consign Industrial Economist to history. Very many summers ago, Chennai saw the shutters down on the iconic English evening newspaper, The Mail.
What’s in a name? What’s in a brand? All these can just disappear. As time goes by, all these can fall by the wayside. How else can one view the happenings in the corporate world of Tamil Nadu? In the early 90s, one of the brightest jewels of the Chennai industrial world — Enfield – changed hands. Promoted by S Viswanathan and his family, Bullet-maker Enfield was sold to the Eicher group. Viswanathan & his ilk had to give up Enfield due to a combination of issues including scalability. Today, the Eicher group has taken Enfield to a new height globally. A few days ago, another big name in Tamil Nadu – The India Cements – was sold to the Aditya Birla Group UltraTech Cement. That sale of India Cements by N Srinivasan and his family reflects the challenges of a family-owned business. There is a similarity between Enfield and India Cements in their sale. The promoters – either by choice or circumstances — had chosen to quit. What is of significance is the fact that both have changed hands due to a sale process. This is in contrast to management changes that are happening elsewhere in the Indian corporate world. There are many such these days and happen due to corporate insolvency resolution actions. The change of guard both at Enfield and India Cements pose new challenges to family-owned businesses in Tamil Nadu. Change is the sign of not just development but also maturity, it appears.
These two have been an inseparable part of his life. He is not just passionate about them. He has gone deeply into them. He lives these two. And, he breathes them as well. The two Cs — cement and cricket — have largely influenced the personality in him. A sense of toughness defines the man. Yet, he wears a sporty exterior. A combination of factors have conspired to goad the indefatigable N Srinivasan to let go of the cement business. It’s a tough call to quit. But he has reluctantly renounced the cement business. But he keeps his love for cricket intact. He may have sold his dear India Cements to Aditya Birla Group-owned UltraTech Cement. But he appears to have ring-fenced the league-level cricket teams supported by India Cements for decades. If grapevine has to go by, the league-level cricket teams are reportedly brought under the wings of Chennai Super Kings (CSK), which is the Chennai franchise owner of the IPL (Indian Premier League) team. Still, there could be some cricketing issues. The sale pact with UltraTech is perfect cricket, it appears.
If winter comes, can spring be far behind? If UltraTech Cement arrives, can the Adanis stay away? Well, the Aditya Birla Group-owned UltraTech Cement has just re-laid the industrial landscape in Tamil Nadu by buying out the indomitable N Srinivasan in The India Cements Ltd (ICL). Is this the beginning of a new order in the Southern cement field? All of a sudden, the game is getting redefined. In a fragmented south side story, the opportunities appear to be quite a lot. Not surprisingly, every little player in this part of the world pales into insignificance – reduced to the level of a small scale industry (in terms of capacity and financial muscle) – when compared to the Adanis and the Birlas of Ultratech. Adanis have just recently acquired Hyderabad-based Penna Cements. With Ultratech making its advances in the Dravidian land, Adanis have reportedly upped their ante and are looking around aggressively for cement assets. There are legacy names in this part of the world with good pedigree. When the competition takes an intense format, the playground becomes a vicious turner. When the name of the game is big, the focus is increasingly turning out to be on capacity building. What’s in a name? What’s in a brand? Everything can get consigned to the pages of history when the big game arrives!
After 75 years, The India Cements Ltd (ICL) has changed hands. The indefatigable vice-chairman & MD N Srinivasan has finally called it quits and sold his family holdings to the Aditya Birla Group-owned flagship company UltraTech Cement. At the end of the day, he was a reluctant seller having got into a pincer-like situation by a combination of physical, economic and financial factors. An aging Srinivasan and aging plants have pushed ICL, whose birth could be traced to the pre-Independence era, into the hands of UltraTech. It may not be easy for Srinivasan -– who breathes cement -– to let go of ICL. No doubt, Srinivasan and his family are richly rewarded for their renunciation of ICL. Yet, he must be silently suffering the pain of parting ICL. Significantly enough, he has managed to ring-fence Chennai Super Kings (CSK), the largely successful IPL (Indian Premier League) cricket team. As an independent unlisted company, it is now largely owned by him and his family. CSK has not only gone from strength to strength but also spread its wings across the globe. A passionate patron of Cricket and cricketer, Srinivasan and his ilk could now focus fully on the game like a blinkered-horse. Franchise-based sport is proving to be the future across the globe. Significantly enough, Ultratech will get ICL only since Srinivasan and his family have ring-fenced India Cements Capital as well. Indeed, a fresh innings has begun for Srinivasan and his family.
Remember Ramesh Vangal. Once upon a time, he was the face of Pepsi in India. In fact, he led PepsiCo’s landmark entry into India in the early 1990s.This was widely considered as a pioneer in India’s opening of FDI. Post-Pepsi, the arc light, however, continued to be on Vangal as he formed an alliance with Suresh Kalpathi, the founder of SSI Ltd. Vangal also got into a cobweb when his company, Katara Holdings Ltd (KHL) Mauritius, bought into Tamilnad Mercantile Bank (TMB), which was mired in controversy when internecine quarrels among promoter groups led to the shares slipping into non-Nadar hands. With funding facilitation from Standard Chartered Bank (Mauritius), KHL struck a complex deal in 2007 to acquire TMB shares. But the Enforcement Directorate found Stanchart guilty of violating Foreign Exchange Management Act in this particular transaction. Stanchart took the legal route to retrieve its money from KHL. The Supreme Court of Mauritius has since ordered the liquidation of KHL. Significantly enough, Vangal’s KHL holds over 53% stake in BSE-listed Kerala Ayurveda Ltd, a pioneer in providing Holistic Healing and Wellness Solutions. The official liquidator of KHL has informed Kerala Ayurveda that since he now has the custody and control of the shares held by KHL in the company, no trades are to be allowed on this stake without his authorization. The arc light is still focused on Vangal, it appears.
What’s in IT? Well, IT (information technology) makes an organisation efficient. Is it really so? Ask S Aruldass, managing director of the Chennai-based EAFS which was established in 1992. The company is a leading IT-Enabled Infrastructure & Engineering solution provider and project specialist in the design and building of Data centers & Network Solutions. Over eight summers have gone by and yet, this Chennai-based entrepreneur is at his wit’s end to recover the money for the services rendered by his company to Bengaluru-based IT major Wipro. After selling off his multi-cuisine restaurant (Noodle Kings), he founded EAFS to provide power and control solutions to corporations. It isn’t easy to be an MSME (micro, small and medium enterprise) organisation. He is acutely aware of this. But, he hasn’t bargained for an IT giant like Wipro to delay payment for services rendered several years ago! Constant churning of people in Wipro has only worsened his predicament. The IT age appears to have pushed the inter-personal relationship to a faceless computer interface. This is indeed causing avoidable hurt for smaller ones like EAFS. Non-receipt of payment, however, does not entitle EAFS to hold back on GST payments. The cumulative weight caused by non-receipt of payment from Wipro has cast a huge burden on him and his company. What is small for some may prove to be big for some others. Is Wipro listening?
Chennai is changing. More precisely, the heart of Chennai is undergoing a major metamorphosis. Yester-year iconic industrial and commercial properties are giving way to new skyscrapers, high-end luxury flats and shopping malls in the heart of Chennai. What spurs the change? There are opportunities aplenty for redevelopment now. The increased FSI (floor space index), the Metro Rail projects, myriad road bridges connecting central business corridors across Chennai, the rising demand from HNIs (high network individuals) and NextGen family members of the business group have all combined to liven up the real estate scene in the heart of the city of Chennai. Some of the iconic properties in Chennai are going through a re-development process. Crowne Plaza in Adyar, TVS property on Mount Road, President Hotel on RK Salai and Shanthi Theatre on Mount Road, among others, are now undergoing a metamorphosis. The Brigade group has now announced the development of a new landmark – Brigade Icon – on Mount Road in Chennai. It is now developing the property it had acquired from one of the wings of erstwhile TVS group into a residential complex. In the evolving Chennai landscape, owners of old properties find it prudent to relocate their businesses to IT and newer corridors. Indeed, the change is happening at a faster pace in Chennai.
In a country of over a hundred crore people, job creation must be the principal objective. Viewed from that perspective, the Make In India campaign of Prime Minister Narendra Modi must be welcomed whole-heartedly. Generating a slogan is a lot easier. Making it a reality, however, is a tough proposition. There are so many hurdles in the way for making the Make In India pitch a reality. It can become so only if all arms of the government – both at the Centre and at state level – work in complete coordination with each other. This ambitious non-leather footwear project in Perambalur district of Tamil Nadu promoted by the Kothari group is facing a peculiar problem. The technology partners — those setting up units in the non-leather footwear park — are unable to get fly in technical experts from China to India. Their presence is critical to get these units off the block quickly. Notwithstanding recommendations from assorted agencies, the authorities concerned are yet to clear Chinese technicians’ visas. Issues of minor nature like this can jeopardise the Make In India focus. Border skirmishes notwithstanding, bilateral trade between India and China in FY23 stood at $ 113.83 billion. As of 2022-23, China was India’s third-largest trading partner. Well, New Delhi must find ways to remove the glitches coming in the way of the Make In India campaign.
He knows inside out of cement. He breathes cement, and is passionate about his organisation. He is also acutely aware of the fast-changing dynamics in the cement industry. All along, he has run the cement business in a co-existing system. Initially, he worked with the Chemplast group as a co-promoter. Subsequently, he carried on with the Radhakishan Damani of DMart fame as passive investors. With the Damanis selling their stake to Aditya Birla Group company UltraTech Cement, N Srinivasan has to co-exist with the Birlas now. Is there a definite method to the latest twist? The way things are panning out, it appears a win-win for all the three players. Damani has cashed out happily. Birlas have gained more than a toe-hold into The India Cements, which has a legacy going back to pre-Independence days. Birlas have, for now at least, chosen to stop at the level of financial investor. Given the tall stature of Srinivasan and also considering his age, Birlas have taken a wise course. For Srinivasan, the situation is not new and yet new in a way. This time, he has to co-exist with a financial investor who is also a cement maker. For stakeholders across the canvas, this could be a welcome development. After all, Birlas have a rich background in terms of culture and values. That bodes well for India Cements. What lends credence to the emerging new setting was the unreported informal confabulations at India Cements a few days prior to the sale of stake by Damani in the open market to UltraTech people. The current arrangement seems perfect given the fact that both Srinivasan’s daughter and granddaughter are passionate about driving the cricket franchise Chennai Super Kings. Interestingly, for Birlas there is a Tamil Nadu connection, Kumar Mangalam Birla’s mother Rajashree was born in Madurai. She went to St Joseph’s Convent School and Fatima College. After her marriage to Aditya Birla she moved to Kolkata.
It’s a peculiar position to be in. It is a resounding win, no doubt. How to convert this into a gainful one for Tamil Nadu? Tamil Nadu chief minister MK Stalin must be pondering over this. The relationship between the DMK government and the BJP isn’t cordial to say the least. The big electoral victory of the DMK-led alliance in the recently-concluded Parliamentary elections is surely a big booster to the Stalin-led DMK. Yet, New Delhi has to be onboard to make Tamil Nadu a trillion dollar economy. Coming as it did against this backdrop, the elevation of Kanimozhi as the leader of the Parliamentary party of DMK appears to be an interesting strategic move by the Stalin party. For one, it sort of signals the transition – rather arrival – of GenNext in the party. For another, it is also speculated as a strategic initiative to build a long-term bridge with the political establishments across the canvass in New Delhi. She seems to have a good equation with Amit Shah. Also, Stalin has to be watchful of TDP’s Chandra Babu Naidu who is a pro-reformist. This time around, he is not so much angling for party representation in the Centre but financial packages and investments to his state. This is where Stalin must be missing the experienced senior Maran (Murasoli Maran), who played a perfect bridge between the party and the rulers in New Delhi. For Stalin who has won single-handedly elections for the government it is almost like running with the hare and hunting with hounds.
This one is a giant project. It is not just in terms of the capital cost. From the angle of its coverage too it is a mega one. Perhaps it is the first of the gargantuan size projects undertaken at one stretch in India. The Chennai Metro Rail is currently implementing a over Rs 63,000-crore phase II project to lay 116.1 km rail line with 119 stations in one stretch. Once fully functional, this will see the Chennai landscape change for the better and look completely different. Developing public transport of this kind — with underground and overground stations -– poses challenges of assorted kinds ranging from technical to environmental and logistics. Yet, the biggest challenge lies in making it an earning proposition for the Chennai Metro Rail, a joint venture between the Centre and the Tamil Nadu Government. Not surprisingly, Chennai Metro has hit upon an innovative way to explore non-fare revenue. It has joined hands with the Tamil Nadu Industrial Development Corporation to float a joint venture. This JV will develop commercial properties around metro rail stations, on the lines of those done in some cities around the globe. If there is a will, there is a way. Well, Chennai Metro Rail appears to be on the right track!
A lot is happening here and happening at a hectic pace. Well, the Chennai-born Shriram Group went through a major overall with mergers and reverse mergers resulting in a bloated Shriram Finance some time ago. It continues to hog the headlines. Last month, the South African conglomerate Sanlam upped its stake in the general and life insurance joint ventures with the Shriram group by picking up some shares from a private equity holder as well as from Shriram Ownership Trust. Significantly enough, Sanlam also divested a part of its direct holding in Shriram Finance to Shriram Value Service, a subsidiary of Shriram Capital Private Limited (SCPL) to facilitate the stake hikes. Sanlam owns 40.70% of SCPL. The balance is controlled by SOT and its affiliated entities. Now, Shriram Finance has gotten rid of its entire holding in Shriram Housing Finance for a whopping Rs 4,600 crore to Warburg Pincus. The Shriram move has put the long-time watchers of group and stock market pundits alike on an alert. Brand Shriram has always remained in the realm of mystery before the re-jig and post the reorganisation as well. The sale of the housing finance arm was on the cards always, no doubt. But the recent actions suggest a larger monetisation exercise at Shriram group.
Dharani Sugars and Chemicals, a listed entity, has returned to the hands of the original promoter. Well, the Chennai bench of NCLT has allowed an application filed by promoter PGP group for settlement and revival of Dharani Sugars and Chemicals.The application was filed under Section 12A of the IBC (Insolvency and Bankruptcy Code). Section 12A permits the withdrawal of an insolvency application against a corporate debtor if approved by at least 90% of the committee of creditors (CoC) in cases admitted under Section 7, Section 9 or Section 10 of IBC. Following the admission of the application, Dharani Sugars and Chemicals has come out of insolvency resolution process. This is the second victory for the PGP group before NCLT. Sometime ago, the group regained control of Appu Hotels, which runs the iconic Le Royal Meridien Chennai and Le Meridien Coimbatore. DSCL has three sugar plants in Tamil Nadu. DSCL was the first sugar company in Tamil Nadu promoted by NRI investors led by Dr Palani G Periasamy. Its revival augurs well for the Tamil Nadu sugar industry, one of the traditionally strong businesses of the state which has started languishing due to fall in cane cultivation area following drought and farmers opting for paddy, cotton and other crops. Well, Periasamy has reasons to cheer.
It is a household name in Tamil Nadu. Vummidi Bangaru Jewellers (VBJ) hit the national headlines after the installation of Sengol (sceptre) near the Speaker’s seat in the new Parliament. Vummudis were traced to be the makers of the Sengol that the Adeenams in Tamil Nadu had gifted to Pandit Nehru to symbolise the transfer of power from the British. The Sengol installation in the new Parliament has indeed given VBJ not just national visibility but global focus as well. The VBJ is yet again in the limelight. This time around, it is for its association with the Ram Mandir at Ayodhya. VBJ has presented an exquisite SriRamCharitManas, a sacred book to Ram Mandir, in all its golden glory. It features 524 intricately designed gold pages. Each page narrates the timeless chronicles of Lord Ram with poetic eloquence. It is kept in the sanctum sanctorum of Ram Temple at Ayodhya. Prior to presenting it to Ram Mandir, VBJ allowed the public to experience the “precious epic” by keeping it for public view at its store in Anna Salai in the heart of Chennai. Historically, VBJ stands for trust in the gold jewellery trade. That is getting expressed in newer ways, it appears.
India is witnessing two mega events this summer. As the people of the country are making a beeline for polling booths to elect a new Parliament, a cricket fever of an exciting kind has also gripped the masses with yet another edition of the popular Indian Premier League (IPL) truly under way. Is it possible to co-run national elections and the IPL? Why not? That seems to be the view of the political masters in New Delhi. This view is entirely opposite to the one held by Congress-led the UPA government earlier. Several seasons ago, the annual IPL was moved to South Africa since the then regime did not want that to clash with the national elections. With the Modi Government making a strong pitch for Make-in-India, shifting IPL out of the country could not even be considered by the political masters in New Delhi, lest it should send wrong — rather negative — signals to people at large. Moreover, the IPL has, over the years, become a money spinner with a huge multiplier effect on the national economy. They can’t afford to lose huge revenue by shifting IPL out of India during the national election. Well, the people aren’t complaining about the double dhamaka!
The Carnatic music world is caught in a huge controversy. The decision of The Music Academy of Madras to confer the prestigious Sangita Kalanidhi title on vocalist TM Krishna has not gone well with veteran artistes and music patrons. And social media has gone on overdrive. The latest to jump into it is Karnataka Classical Music Confederation Trust (KCMCT), which has sent out a strong missive to The Music Academy. Krishna, the rebel Carnatic musician has always been courting controversy for his stand. KCMCT in a communication to The Music Academy said “The recent decision to confer recognition upon an individual whose actions have caused considerable anguish among our fraternity of musicians is a matter of profound consternation. We are compelled to express our dismay at the choice to honour an individual whose conduct and pronouncements have engendered substantial discord and disunity among Karnataka musicians.” Krishna, after winning the Magsaysay award, has positioned himself as a social reformer. The Academy became his instant target. Accusing it of caste bias and discriminatory practices, Krishna boycotted its festival for several seasons. Aghast at its choice for Sangita Kalanidhi title, RaGa sisters (Ranjani-Gayatri) have chosen to pull out of the December festival of the Academy. Since then, the opposition to Krishna is escalating by the day with political parties such as DMK and BJP pitching in with their views. By honouring a rebel, the Academy has now managed to create an army of rebels. The tune set by the Academy headed by N Murali, owner of The Hindu group of publications, appears to have gone woefully awry. A lot of jarring notes are emanating from the Carnatic music world.
With India already clinching the ongoing five-test cricket series following a 3:1 victory against England, the cricket enthusiasts are now eagerly awaiting one more edition of the popular IPL (India Premier League). The indefatigable Mahendra Singh Dhoni is expected to lead the five-time champion Chennai Super Kings (CSK) yet one more time! As the expectation of fans rises to a crescendo, CSK will defend the title this time around with a new sponsor! Well, Etihad Airways, the national airline of the United Arab Emirates, is the new official sponsor of CSK. The partnership was unveiled at a special ceremony held in Chennai some time ago. Edition after edition, The India Cements Ltd (ICL) had been an inseparable principal sponsor of CSK for long. The Etihad partnership will come to life across Chennai Super Kings’ events and platforms with Etihad showcased on the back of the Chennai Super Kings’ jersey. That Etihad has replaced The India Cements as the principal sponsor is hard to visualise for many long-time watchers of CSK, which has become an iconic brand. Since Brand CSK commands quite a respect in the marketplace, the CSK management, perhaps, thought it prudent to pitch the principal sponsorship at a premium. It apparently took a lot to convince the management of India Cements, especially its boss N. Srinivasan. It is a win-win for both CSK and The Indian Cements, nevertheless.
Cement is not just what we all perceive. For a long time, it has been viewed as a commodity. This perception has changed. In the world of intense competition, cement has now become a crucial component of building solutions. So much so, branding has become an inevitable part of cement marketing. After consolidation of cement capacity, top players are shifting focus to position their brands strongly by roping in celebrities and sports stars. Bollywood star Shah Rukh Khan is the brand ambassador for industry leader, Ultratech. Not to be outdone, Damia Cement signed up another Bollywood star, Ranveer Singh, as its brand ambassador. A few years ago, JSW Cement brought on board former Indian cricket captain Sourav Ganguly and captain of India’s national football team Sunil Chhetri as its brand ambassadors. The India Cements, headed by industry veteran N Srinivasan, launched conkrete super king (CSK) as a game-changing cement. It was endorsed and powered by CSK’s iconic captain M S Dhoni’s Power of 7. Dhoni cement, as is called by dealers and influencers, CSK cement has become a hit in the last one year. With the construction activity at its peak on the eve of Lok Sabha elections, there is bound to be intense competition among top cement players to garner more volume and market share . Not just the power of the brands but also the ability of the ambassadors to pull business will be under test now.
It was an iconic name once upon a time. This Tamil Nadu-based central public sector undertaking Hindustan Photo Films Manufacturing Company Ltd (HPF), however, failed to survive the test of time. HPF has long been consigned to the pages of history. Through the IBC (Insolvency and Bankruptcy Code) route, HPF went into liquidation when the official liquidator invited bids for its sale as a “going concern” with a “disputed leasehold land to an extent of 291 acres” late last year. A fast-emerging Chennai-based group, which is coming up rapidly in the healthcare space, is reported to have successfully acquired land and other properties owned by HPF through the auction process. This health care company a few months ago signed up to take over another Chennai-based hospital in a over Rs 125-crore deal. HPF was incorporated in 1960 in the backward Nilgiris district in Tamil Nadu. Its main plant is located at Udhagamandalam. The company’s photographic films were sold under the name ‘Indu’. The company’s operations have been at a standstill since June 2013. A combination of factors — from obsolete technology to weak marketing and high input costs — pushed HPF to the brink. The digital revolution proved the last nail in its coffin. The acquisition indeed pictures the propensity for expansion by this healthcare group.
Much water has flown under the bridge since Valli Arunachalam stirred a hornet’s nest when she alleged gender discrimination to board positions at the Murugappa group. After a unilateral public spat, the daughter of late MV Murugappan (who was the chairman of CUMI) smoked a peace pipe with her family members to finally go her separate way after legal negotiations. Is there a gender bias at the Murugappa group? Not really if one were to go by the presentation made by MA Alagappan, chairman of AMM Foundation, which is a corporate social responsibility wing of the Chennai-based Murugappa group. Top women members of the family were prominently featured on the audio-visual which articulated the work of the foundation, which is celebrating its centenary. Each one of the women spoke with passion and in eloquent English. Insiders aver that the ladies at the group are intensely involved in the not-for-profit activities that directly touch upon the lives of the downtrodden. Be it in running hospitals or schools, the women folk in the family are right up there to provide the hand-holding. “We would like to be felt and not heard,” said Alagappan, pointing to the works of the foundation over the last 100 years. Established in 1924, the foundation manages five hospitals and an equal number of educational institutions. Behind the successful running of the foundation are these ladies who quietly carry on the Good Samaritan work at the Murugappa group.
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.