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The third term consecutive BJP government in Haryana proactively introduced seven laws before the state legislature’s winter session, even as Congress’ failed CM aspirant Bhupinder Singh Hooda declined handing over the leader of opposition (LoP) post to another party colleague. Before the session began intensive in-fighting broke out for the LoP post with Hooda deferring the appointment though Congress has legitimate claim with 37 MLAs to hold the post. Holding Haryana’s state legislature to ransom Hooda said the LoP would be decided only after the results of the Maharashtra state assemblies are declared on November 23. His stand of “If it ain’t me, it won’t be anyone else,” has already set the ball rolling with a majority Congress MLAs seeking fresh political pastures with strong indications of en masse defections to the BJP, says senior BJP leader Mahendra Jain. “Not only in Haryana, but also in Maharashtra, mass defections are likely from the Congress party and the Sharad Pawar/Uddhav Thackeray led political formations respectively post November 23, 2024. There will be a big political Khela in the two states,” Jain predicts. Ironically, after the 2014 Lok Sabha polls, the Congress party was unable to secure the LoP status for Rahul Gandhi in India’s parliament have elected only 44 MPs back then while Hooda’s obstinacy does not allow the party to legitimately designate Harayana’s LoP despite commanding required numbers for the same. The BJP is exploiting the situation to engineer a Congress breakup in Haryana while ensuring the same in Maharashtra at the expense of the UBT and Sharad Pawar’s NCP in a repeat performance.
In a solemn ceremony, Justice Sanjiv Khanna was sworn in as the 51st Chief Justice of India on November 11, succeeding Justice DY Chandrachud, who retired on November 10, 2024. The oath was administered by President Droupadi Murmu during a ceremony held at the Rashtrapati Bhavan. The event was attended by key figures including Prime Minister Narendra Modi, Defence Minister Rajnath Singh, Vice President Jagdeep Dhankhar, and former CJI Chandrachud. Justice Khanna’s appointment follows the recommendation of Justice Chandrachud, who had recommended him as his successor on October 17. Justice Khanna’s tenure as CJI will last until May 13, 2025. Despite his short tenure, Justice Khanna has opted not to move into the official CJI Bungalow at 5, Krishna Menon Marg. Following the swearing-in, Justice Khanna proceeded to the Supreme Court to preside over the day’s proceedings, hearing 47 cases alongside his colleague, Justice Sanjay Kumar. In his parting address Justice Chandrachud expressed a deep sense of satisfaction with his service, stating, “I won’t be able to deliver justice from tomorrow, but I’m content.” Justice Chandrachud, like other former Chief Justices, will enjoy several post-retirement benefits which have recently been enhanced to include round-the-clock security at their residence, along with a personal security guard available 24/7 for five years post-retirement. He will also get six months of rent-free Type-VII accommodation in Delhi, similar to facilities provided to Union Ministers. Lifetime entitlements include domestic help and a chauffeur, ensuring that their household needs are met and they lead a comfortable life.
In a significant political development, West Bengal chief minister Mamata Banerjee has placed her trust in former cabinet minister and senior Left Front leader Abdus Sattar by appointing him as the chief advisor to her government on minority affairs. Sattar, an influential figure of CPI(M) who served as the Minister of State for Minority Affairs and Madrasah Education under the Left Front government. He has been tasked with addressing ongoing disputes related to Wakf properties and will advise the Department of Minority Affairs and Madrasah Education on initiatives for minority welfare. Interestingly, Sattar quit the Left Front way back in 2011 by joining the Congress before aligning with the TMC. This appointment, sources suggest, highlights TMC’s strategy to strengthen its appeal among the state’s educated minority communities. With the BJP’s growing influence in West Bengal and traditional opposition forces such as the Left and Congress losing traction, Sattar is seen as a critical asset for Banerjee’s administration, given his progressive reputation and deep organizational skills. A TMC leader pointed out that Sattar will complement prominent TMC leaders like Firhad Hakim and Siddiqullah Chowdhury. Interestingly, CPI(M) leader Sujan Chakraborty said that Didi’s appointment of Sattar reflects an acknowledgment of the developmental work undertaken during the Left Front regime and is also a rebuttal to TMC’s earlier narrative that the Left did nothing for minorities.
Maharashtra chief minister Eknath Shinde, deputy CM Devendra Fadnavis and former CM Uddhav Thackeray have started singing the same tune. They keep on telling the media, “I am not hankering for Maharashtra’s chief ministership.” Over the past few days, the three leaders have been interviewed by leading dailies and news channels. Each has been repeatedly asked about his prospects to be the next CM. In response, each has reiterated that a decision about this issue will be taken after the assembly election results on 23 November. The issue had become a hot topic soon after the Lok Sabha election when Uddhav Sena’s spokesman Sanjay Raut publicly suggested to Maha Vikas Aghadi (MVA) to project his leader as the next CM. The move was immediately scuttled since veteran leader Sharad Pawar of NCP and state Congress president Nana Patole rejected it. Now that the polls are away in just four days, the issue has been resurrected. Shinde has predicted that the ruling Mahayuti will win around 160 seats in the 288-member house. Fadnavis has been consistently saying that the issue will be decided by Shinde, BJP’s Central leaders and another deputy CM, Ajit Pawar. This stance of the three top leaders in Maharashtra is interpreted as a precaution to ensure that the boat is not rocked at the opportune time.
He has been very vocal on sanatan dharma and has been taking potshots at BJP and Hindu religion. But ever since Udhayanidhi Stalin was appointed deputy chief minister of Tamil Nadu he seems to have toned down his anti-sanatan stand. Of course, he has shown his aggressive side by insisting on wearing a T shirt with DMK logo on it at every public appearances, a practice that has irked opposition to the extent of filing legal action. This defiance is yet to be resolved. But there is evidence that he is mellowing down, a visible change from his aggressive defiance. Recently, Udhayanidhi was tasked with completing a full audit and stock taking of the DMK government’s welfare schemes and doles obviously aimed at the 2026 Assembly elections. To get a first hand report Udhayanidhi visited several constituencies, met the local party workers and government officials. But when he visited Thoothukudi with Minister for Fisheries Anita Radhakrishnan and Social Welfare minister Gita Jiwan in tow, the powerful and bespoke Kalaignar family’s Kanimozhi( MP for that constituency ) was missing from the scene. The media was quick to pounce on this glaring absence. Udhayanidhi was quick to reassure the media that this stock taking move and audit had been undertaken at the request of the chief minister and that his foster aunt was travelling abroad. He also took pains to reassure the media that he would revisit Thoothukudi in a few weeks with Kanimozhi. There was a time when Udhayanidhi would have flared up at even an indirect reference to Kanimozhi’s relevance. Times are changing
The absence of Maharashtra’s deputy chief minister Ajit Pawar and other senior NCP leaders from Prime Minister Narendra Modi’s election rally at Chhatrapati Shivaji Park in Dadar, Mumbai on November 14 strengthened speculation that NCP could possibly be an unreliable link in Mahayuti. This notwithstanding the fact that the deputy CM had attended a Modi rally in Pune barely two days earlier. Ajit Pawar’s party is a crucial partner in the ruling alliance, alongside Eknath Shinde’s Shiv Sena and the BJP. But then NCP candidates Sana Malik, Nawab Malik, and Zeeshan Siddique were also notably absent from the event, which featured leaders from the Shinde Sena and the Republican Party of India (RPI) led by Ramdas Athawale. While the rally was meant to highlight the coalition’s solidarity, reports suggest that NCP leaders are upset over the BJP’s batenge toh katenge campaign. BJP sources said despite Ajit Pawar’s unease with the BJP’s aggressive Hindutva agenda, it is likely that he will stay on the side “which benefits him”. That is he could walk to any side which will make him the CM or as Nawab Malik told Times Now “Ajit Pawar will be king maker”. BJP sources said UP CM Yogi who coined the slogan has been much in demand among party candidates. “We have been forced to cancel meetings of top leaders to accommodate Yogiji”, said a party manager. As for contrary assertions by Ashok Chavan and Pankaja Munde on batenge toh katenge, these are being viewed more as a desire to project themselves than pose any serious ideological counter to the main party discourse.
Maharashtra’s deputy chief minister Ajit Pawar has raised apprehensions about his future moves, once again. Over the past few days, Ajit has betrayed his ambivalence about the way campaigning is proceeding in Maharashtra. While this is being commented upon, his absence at the final rally of Prime Minister Narendra Modi at Shivaji Park in Mumbai on November 14 has been noted with concern within the ruling Mahayuti. Neither Ajit nor any of his NCP’s candidates turned up for the PM’s rally organised by chief minister Eknath Shinde’s Shiv Sena and the BJP. As Ajit failed to appear on the dais, the media attention has focussed on his possible calculations after the assembly poll results are out on 23 November. Already, he has rubbed Shinde and deputy CM Devendra Fadnavis the wrong way by objecting to UP CM Yogi Adityanath’s slogan batenge toh katenge. Ajit had observed that such slogans will not work in Maharashtra, whose culture was different from that of UP. Ajit’s insistence on fielding former minister Nawab Malik from Mankhurd-Shivaji Nagar constituency in Mumbai despite the BJP’s open objections had created some strain within the Mahayuti. Now, Malik has told the saffron formation that Ajit’s NCP will not be a part of the next government if Yuti’s campaign strategy is not changed. Ajit’s another confidant, Dilip Walse Patil had said a few days ago that some fresh combination can occur after the election. Ajit has not refuted neither statement. Hence, he is under close observation by the other two partners of Mahayuti.
The kerfuffle following Ricky Ponting’s straight–from–the–shoulder observation of Virat Kohli’s form was unnecessary. In the course of an International Cricket Council (ICC) conducted interview before the five-Test series between India and Australia in Australia for the Border-Gavaskar Trophy, the former Australian captain said that Kohli has scored only two Test centuries in the last five years (186 against Australia in Ahmedabad in March 2023 and 121 against the West Indies in Port of Spain in July 2023). In these circumstances, he wondered if any other player would have been picked for the national side. While Kohli — described by Ponting as one of the greats in the same interview — himself did not respond to Ponting’s appraisal of his form, a seemingly annoyed India head coach Gautam Gambhir virtually questioned Ponting saying: “What does Ricky Ponting have to do with Indian cricket? He should be talking about Australia.’’ Gambhir’s retort was churlish. The media seeks the opinions of former greats as a build-up to events and in this case Ponting was interviewed by none other than the ICC because of the importance of the Border-Gavaskar Trophy. Ponting has gone to the extent of saying that the series between India and Australia — from the backend of his career – has always been a high-stakes affair, not far from the relevance of the Ashes. Ponting has played 560 matches for Australia across formats, scored 27483 runs with 71 x 100s and 146 x 50s and led Australia in 77 Tests. He is also a World Cup-winning captain. To question his credentials is downright absurd.
Uttar Pradesh CM Yogi Adityanath packed a lot of wit and humour while taking potshots at Congress President Mallikarjun Kharge who had mocked Hindu sadhus straying into politics and occupying high offices “in saffron robes”. Yogi reminded Kharge that he may have forgotten some crucial parts while recollecting his family’s sacrifices “for votes”. Yogi alleged Kharge purposely glossed over the tragic death of “his mother and sister” in an attack by Razakars as he feared losing Muslim votes. Addressing a rally in Achalpur in Vidarbha, the UP leader said, “I am a Yogi, and for me, the nation comes first, while for Mallikarjun Kharge, appeasement politics comes first.” He was responding to Kharge’s comments on the “batenge toh katenge” remark. He recounted Kharge’s childhood tragedy during the political unrest in Hyderabad during India’s independence. Kharge was born in the Bidar region of erstwhile Hyderabad state, ruled by the Nizams. The Razakars were a paramilitary force that operated in the princely state with a primary objective to maintain the rule of the Muslim Nizams of Hyderabad and prevent the accession of Hyderabad to India. Incidentally, at the very rally where Kharge was pouring scorn on Yogi’s saffron attire, the Congress chief was trying to generate some sympathy for himself by talking about how he had narrowly escaped the wrath of razakars. He didn’t name the razakars; he merely said how his father was relieved that his only son had been “saved”. “Even our house was burnt. I don’t want to talk about those who attacked us.”
India’s Test team – thrashed 3-0 by New Zealand – will look upon the five-Test Border-Gavaskar Trophy series against Australia with trepidation rather than hope. After the 2-0 win against Bangladesh, the Rohit Sharma-led team seemed to have reached the doorstep of the ICC World Test Championship final. But in a matter of 10 playing days from October 16 to November 3, all the hype around a third consecutive WTC final turned into slough of despond because drawing a blank from the available 36 points from three Tests against New Zealand meant winning four of the five Tests in Australia to qualify for the WTC final. India could be disappointed when the fourth Test begins in Melbourne on Boxing Day (December 26). Of course, putting it across the Pat Cummins-led Australian side will drive the Indian team that competed hard to bring down the home side in the two previous series of 2018-19 and 2020-21. Preparing “designer turners’’ in Pune and Mumbai did not help the home team in any way as New Zealand’s two left-arm spinners, Mitchell Santner and Ajaz Patel, sent the home team packing, capturing 13 wickets in Pune and 11 wickets in Mumbai. The five pitches in Australia will not afford copious turns to the slow men, but Cummins will deploy the smart off-spinner Nathan Lyon – he has taken 60 of his 259 wickets at home in 15 Tests against India — to the full. India has to muster all its wits, hour by hour, session by session, and day by day, deliver with the bat, ball, and field well in each Test match to make the series riveting.
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.
Different tales, different strokes! This Christmas will be dissimilar for these two. For one, it will be a joyful celebration. For the other, however, this could be a farewell party. Well, we are talking about two iconic five-star hotels in Chennai. Crowne Plaza (formerly known as Adyar Gate Hotel) and Le Royal Meridien. Crowne Plaza will slip into the pages of history shortly. It has a new owner now in Bhashyam, a leading reality firm in Chennai. What the new owner intends to do with the acquired property is still not known. One thing, however, is sure. A prominent landmark — Crowne Plaza — will disappear from Adyar. The tale is different at Le Royal Meridien hotel at Guindy. Armed with National Company Law Tribunal order reversing insolvency process and restoring Appu Hotels to NRI industrialist, Dr Palani G Periyasamy, the two star hotels, Le Royal Meridien Chennai and Le Meridien Coimbatore are decked up and illuminated for a grand Christmas celebration. Periyasamy is set to step into the New Year with a sense of hope and fresh optimism. No doubt, an appeal has been filed in National Company Law Appellate Tribunal by MGM Healthcare which lost the bid for Appu Hotels and the case is slated for hearing on January 12. But it looks Appu Hotels is not in mood to give up the regained control.
This does not operate in an esoteric field. It is engaged in the dairy business. Today, it is a formidable player in Tamil Nadu, in particular, and the South, in general. Yet, this one has a unique record. It remained unaffected by demonetisation or the Covid-19. Much before digitisation became the new normal in the post-Covid world, Chennai-based Hatsun Agro Products Ltd had gone for a cashless transaction model. So much so, the aforesaid extraordinary events did not have any drastic negative impact on its business. Headed by RG Chandramogan, Hatsun was, perhaps, one of the very few companies which largely remained unaffected by demonetisation! Today, this entrepreneur-driven listed company has evolved into a significant name to reckon with in the dairy industry. This over Rs 8000-crore company has several popular brands such as Arun Ice-creams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee, Hatsun Dairy Whitener and Ibaco. Its products are exported to 42 countries primarily to America, the Middle East and South Asia. Under a new initiative, Hatsun is eyeing large apartments to facilitate residents buy these brands through vending machines installed in their premises using smart cards supplied by Hatsun. Chandramogan is always on the look-out for markets waiting to be discovered, it appears.
TVS and Murugappa are not just iconic names but also venerable brands in the Chennai business world. TVS has seen the four families, part of the group, go their separate ways legally. Each one of the four families in the erstwhile TVS is now chalking out its own independent business strategy. The Murugappa group, too, has many family branches. This one too appears to be letting the individual families pursue their own business interests. Still, the family holding company is intact and appears to bind the Murugappa families together. The open revolt by Valli Arunachalam, the elder daughter of late MV Murugappan, however, put the spotlight on the Murugappa group. Fortunately, both Valli and the Murugappa group have chosen to smoke the peace pipe. Coming as it does against this backdrop, the decision by Ambadi Investments (the holding company of the Murugappa group) to sell its entire 2.27% stake in EID Parry has set tongues wagging. The open market sale has fetched Ambadi Rs 190 crore. Does the stake sale have any connection with the peace pact with Valli? One tends to quickly correlate the two. Has the Murugappa group chosen to let Valli cash out? That option remains the realm of possibility with the stake sale by Ambadi in EID Parry.
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White Knights, co-option, corporate alliances and the like were quite in vogue in former times. They played handy roles in helping companies – especially of the owner-driven ones – to ward off take-over threats. Examples are dime a dozen in the corporate world of Tamil Nadu where they threw ring-fences around vulnerable outfits to check-mate raids by unwanted or undesirable entities. This had indeed helped many stressed outfits from falling into the BIFR fold, thanks to those friends in need who played Good Samaritans. The promoters of Bank of Madura (since merged with the ICICI) sought the help of Kotak Mahindra to ward off takeover threat from AC Muthiah of SPIC fame. Likewise, Pradip Kothari reached out to MV Arunachalam of the Murugappa group to stop the threat of Reliance satellite outfits from taking over of KICL (Kothari Industrial Corporation Ltd). Under new management, KICIL has now sold its fertiliser factory in Chennai to Coromandel Fertilizers of the Murugappa group! Son-in-law of late Raju, promoter of Raasi Cement, looked up to N. Srinivasan of The India Cements to stop raiders on track. Autolec, too, went to Sundaram Fasteners to ward off takeover attempts by multinational firms. In the evolving regulatory environment and following the arrival of IBC (Insolvency and Bankruptcy Code), things have gotten tougher for struggling owners to retain the ventures they have founded. The Good Samaritans of former times are either not there or wary of playing the rescue role in the changed context. Surely, that is hurting some original entrepreneurs in Tamil Nadu.
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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.