Friday, August 31, 2012

A toast to the rising star!

Deepika Padukone might still be relatively new in the Indian film industry, but the admiration, attention and movie offers that she is getting are hard to find even after years of hard work in Bollywood! It seems that apart from directors of flicks like Lafangey Parindey, Break Ke Baad and Khelein Hum Jee Jaan, there are many others like liquor baron Vijay Mallya’s son, Sidhartha Mallya, who are showing interest in her! While she is surprised that the directors are trusting her with such challenging roles, wonder if she thinks the same way about the ‘Royal Challenger’ too!


Thursday, August 30, 2012

Securities and Exchange Board of India

Although extensive reforms have been set in motion by corporate watchdogs like Securities and Exchange Board of India, Company Law Board, et al, in the last few years, there remain significant lapses in its implementation and enforcement. by Manish K. Pandey

There is another school of thought that says one cannot ensure better governance standards merely by tightening the laws or by enhancing them. “In India, the idea of corporate governance is well received; however, its implementation is still a big problem,” says Sai of Chess. Further, India Inc. has had a reactive attitude when it comes to deal with frauds which certainly needs to be changed to a more proactive approach. Even amongst those that do undertake a fraud risk assessment, the focus is more on financial frauds rather than a holistic assessment. No doubt India is said to be better than its Asian counterparts in disclosure practices, but it still has miles to go as far as implementation is concerned.

In fact, SEBI, at several occasions, has come under fire for not having a proper enforcement process, particularly after the Satyam fiasco. In a recent media gathering, when asked about SEBI’s enforcement actions, HDFC Chairman Deepak Parekh, who was appointed as the Chairman of the Satyam board (post fiasco) by the Ministry of Corporate Affairs to clean up the mess stated that still many companies don‘t follow Clause 49 guidelines (it deals with the role of independent directors and assumes that not being related to a promoter or having a direct economic benefit from a firm, makes a director independent), but no action is taken “because there are far too many corporations listed on the exchange and the SEBI staff is too small.” He further stated that the rules are meaningless if there is no enforcement, and to ensure that “SEBI needs to delist some companies, and throw some promoters out. It needs to teach a lesson.” And for that SEBI certainly has to develop draconian teeth just like the US SEC had put in post Enron fiasco. That too very fast... before it gets darker inside India Inc.’s boardrooms.
 

Wednesday, August 29, 2012

Why Osama will be...!

Alive! There are reasons to kill Osama, and there are reasons to keep him alive; Pakistan, and the US, look decisively tilted towards the latter

May 11, 2010: In context with the failed attempt of the Times Square bombing, US Secretary of State Hillary Clinton warns that Pakistan would face “severe consequences” if a future terrorist attack on US soil was traced back to Pakistan and said, “…Pak officials know where bin Laden, al Qaeda, Mullah Omar and the Afghan Taliban leadership are.” A few days later, she reiterates her warning (albeit in a relatively softer tone) and said, “There is more that Pakistan must do to face what is now a common enemy…” May 12, 2010: The US Defence Secretary Robert Gates bellows, “The relationship between the two anti-terror allies [aka, USA and Pakistan] has improved significantly over the last two years.”

In the two statements above, which are obviously contradictory, the usage of word “ally” does raise critical concerns. When one juxtaposes this with the latest leakage of thousands of secret US military records by a whistle-blowing site WikiLeaks, which proves Pakistan’s deep complicity in terrorist activities, US pro-Pak political intentions suddenly become suspiciously dangerous, as the US and especially Barack Obama ostensibly are still not convinced enough to declare Pakistan as a terrorist state, amazingly turning a blind eye to what seems crystal clear to the rest of the world!

But wait! Barack’s bent clearly must be a put-on, in his efforts to get Pakistan’s assistance to catch Osama bin Laden, right? At least initially, it seemed so. But of late, Barack’s double entendres just can’t be ignored. While Barack announced that his administration would stick with pulling out US troops from Iraq (down from a peak 150,000 to 50,000 by the end of this month), he has concurrently increased the deployment of US soldiers in Afghanistan (up from 68,000 to 100,000). With a shrewd redeployment, it’s quite clear that the US is simply gaining avenues to increase its influence over Central Asia. Without the excuse of hunting down Osama bin Laden and Taliban, the US would surely have faced global admonition on troop deployment.

On the other side of the coin, the presence of Osama and the controlled nurturing of Taliban and anti-India elements allows Pakistan to keep receiving spectacularly humungous aid from the US, most of the moneys going to the personal pockets of local bureaucrats and politicians in Pakistan, a handful of who – by some accounts – are now close to becoming billionaires. Pre-Osama, from 1991 till 2000, Pakistan received $434.2 million as economic and military assistance aid from the US. Post Osama (9/11), from 2001 till 2009, Pakistan has received a shocking $15 billion from the US; and Obama had deftly announced another hollering $7.5 billion in October 2009!


Tuesday, August 28, 2012

The Shakira card

After making waves with the official song for the FIFA World Cup, Shakira is all set to sing in a yet-to-be-titled film produced by Sachin Joshi, who is also making his debut as an actor in the film. Salim-Suleman Merchant have revealed that the song is to be a cabaret number with Latin influences. The duo, having already worked with the Columbian pop-star for the FIFA anthem, is looking forward to collaborate with her again. Here’s hoping the trio re-creates the Waka-Waka magic...


Friday, August 24, 2012

THE POLITICAL CLASS MAINTAINS A BELLIGERENT STANCE

THE APEX COURT, ELECTION COMMISSION AND GOVERNMENT AGENCIES ARE MULLING STEPS TO REFORM THE ELECTORAL PROCESS. BUT THE POLITICAL CLASS MAINTAINS A BELLIGERENT STANCE.

The HC, post intense deliberation gave a verdict in the favour of the people in 2000. The judgment prompted major political parties joined hands and appealed in the Supreme Court (SC). However, SC directed the Election Commission to furnish the necessary details about the candidate. The ruling establishment passed an ordinance to nullify the verdict and sent it for approval by then president APJ Abdul Kalam, who returned the ordinance for reconsideration. However, when it was sent to him for the second time, he had to sign it as per constitutional obligation. Jagdeep S. Chhokar, eminent liberal thinker and one of the key members who fought the battle, comments, “Though the court verdict was understood as judiciary interference in executive, SC said that it has just tried to fill the void which should have been filled by executive.”

Echoing the view of civil rights activists, J. M. Lyngdoh, former Chief Election Commissioner, says: “Even now, some politicians show assets of merely thousands even though they own crores of rupees.” In essence, the battle to make our establishment and political system more transparent and accountable will continue unabated. The revolutionary steps by judicial activists like Justice P N Bhagwati and Justice V R Krishna Ayer and many more are a must for a democratic society to effectively implement fundamental human rights.


Thursday, August 23, 2012

“GOVERNMENT SHOULD IDENTIFY SITES FIRST”

POSCO INDIA’S VIKASH SHARAN DISCUSSES AT LENGTH WITH VIRAT BAHRI OF B&E ABOUT THE PROBLEMS THAT PLAGUE GREENFIELD PROJECTS IN INDIA AND HOW POLICY MAKERS CAN PLAY A MAJOR ROLE

B&E: The kind of activism that POSCO is facing become much more prominent in India in re3cent times. Your views.
Vikash Sharan (VS): When you are talking in context of India, there are two situations; one where you are being genuinely concerned and the other when you are doing such actions on the surface, for some vested interest. In India 98% of the activists are in the second category. It’s not brought out for a genuine concern like environment, community or anything. Yes, people who are getting displaced should be adequately compensated and their liability needs to be sustained. But how do you do it? There has to be a model for carrying this out. In our case, what we have seen, is that the so called leaders of opposition in the area have no such genuine concern about the people. They are not flagging any issues. NGOs try to pick up a cause that looks very genuine on the face of it, try to organise civil society behind them, try to gain strengh in society and then use it for gains on the political platform.

B&E: Does POSCO feel, in retrospect, that it could have changed the situation in any way?
VS: No, I don’t think so; may be the choice of place, may be estimation of time frame... May be this is how it has to happen in India and we are not ready for such green field projects where huge infrastructure is required. And, the govt. in its enabling role and the media have both failed. Government is supportive, but plagued by a long chain of bureaucracy. Media also has to act responsibly. I will give you an example, when forest diversion clearance was given to us, it also required some economic survey to be done. Now, when this action was being taken by the state government, these people were resisted by the local population. Who were the people resisting? This was the first role of media to report, whether they are local, outsiders or hired people? There was no reporting on that. Then the people sitting on dharna were ladies and children, no menfolk. This was totally ignored by media. For good ten days reports kept coming that there is firing at POSCO site, lathi charge at POSCO site, et al. POSCO is nowhere in the picture. They were protesting against the government. The area happens to be area where POSCO might come up in future. The right things should have been flagged.


Wednesday, August 22, 2012

No, for Christ’s sake!

Interpreting the war on terror as a crusade has led to a simmering religous extremism in the US military, which needs to be curbed

When the US ex-President George W. Bush tagged his War on terrorism as a new Crusade, little did he know that his words were being taken too literally by audiences in his own nation as well as across the world. On September 16, 2001 at South Lawn of the White House, Bush said during a press conference, “This is a new kind of evil. And we understand. And the American people are beginning to understand. This crusade, this war on terrorism is going to take a while. And the American people must be patient. I’m going to be patient.”

This statement of his obviously stoked a huge controversy, since it was taken in the religious context, and did not go well with Islamic countries across the world. Franklin Graham (American Christian evangelist and president and CEO of international Christian relief organization Samaritan’s Purse) took it further, as he made an anti-Islamic comment (just after 9/11) and referred to Islam as “a very evil and wicked religion”. Further, on April 18, 2003, he made an statement that true Islam cannot be practiced in the US as the country criminalizes beating your wife, killing your children, committing adultery, et al. Recently a video obtained by al Jazeera (and advocated by the Huffingtonpost) revealed how military officials at Bagram were urging US soldiers to evangelize in the Muslim country. The video also exposed how US military forces in Afghanistan were asked by top chaplain to “hunt people for Jesus” and spread Christianity in Afghanistan. Evidences also reveal that the soldiers stationed at Afghanistan were given bibles translated into Pashto and Dari – the dominant languages of Afghanistan. Even air force cadets in the US were taught to proselytize.

When it comes to religious diplomacy, nothing can beat the Boykin saga. Lieutenant General William G. Boykin – retired Deputy Undersecretary of Defense for Intelligence and a key person during military operations in Grenada, Somalia and Iraq, openly framed the War on Terror in religious terms (obviously anti-Islamic) during a show on NBC News on October 15, 2003. The heights of audacity got breached when it was found that The Soldier’s Bible contained the words of Lt. Gen. William Boykin (in inspirational words from military leaders), where he said of his battle against a Muslim warlord in Somalia, “I knew my God was bigger than his. I knew that my God was a real God and his was an idol.”


Tuesday, August 21, 2012

PLUS : ENDLESS LAND TROUBLES IN ORISSA

BENUDHAR PRADHAN, AGE 95. HIS LAST Mission – Saving Jagannath Puri from Vedanta University

The reality is starkly different when our car reaches the villages whose families will lose their land to the project. It is difficult to visualise spanking new laboratories, classrooms and libraries replacing the huts, houses, muddy streets, courtyards and cattle that are the hallmark of rural India. Gaindala village – just a few kilometres away from the holy town of Puri – will lose all its land to the project, including the cremation ground. Villagers here are not poor; they cultivate three crops in a year in the fertile land and most have sent their children to schools & colleges. Just across the road from the village is the breathtaking Bay of Bengal, its waves pounding against a reserved sanctuary. The entire village is now simmering in frustration & rage. People here seem to be well versed with intricacies of arcane laws like the Land Acquisition Act. Says Kailash Chandra Swain, a resident of Gaindala, “The state government is playing mischief with us. Normally, land for a university is acquired under Section-2 of the Land Acquisition Act. But out here, they are acquiring land under Section-7 of the Act, which is meant for industries.” The cluster of villagers standing around Swain nod vigorously. One of the sons of VVSS President Benudhar Pradhan is accompanying us, eating paan in an inimitable style. Quite clearly, villagers here hold the 95-year-old Pradhan in deep respect. A local activist Bishnu Prasad Mishra who is also the spokesperson of VVSS proclaims, “We will not give an inch of land to Vedanta University.”

Land, I had always suspected, would also be at the root of this controversy and the protests. Who, after all, wants to surrender fertile land to someone whom locals consider to be an interloper? But there is clearly a lot more to just land acquisition by the state to help a tycoon here as villagers reel off numbers like professional number crunchers. Vedanta University needs 6,000 acres of land. Villagers, many of whose children have been educated in colleges & universities, wonder why the University needs 6,000 acres of land. Six thousand acres works out to almost 24.5 square kilometres, far more than what the holy town of Puri at 2,800 acres can claim. Villagers talk about another slightly controversial university project promoted by the Sri Sri Ravi Shankara Foundation elsewhere in Orissa that has been green lighted by the state. This University has been given 186 acres of land. You would naturally ask: what in God’s name does Anil Agarwal want to do with 6,000 acres? Actually, the original MoU signed between Vedanta & the Government of Orissa in 2006 had allocated 8,000 acres for the University with a provision that the state government will actively assist Vedanta in acquiring more land as and when required by the project.

If you talk to local villagers, they mutter darkly about the real intentions of Anil Agarwal. The spokesperson of VVSS Mishra throws up two conspiracy angles in one breath. “Scientists of Bhabha Atomic Center have identified this area as a treasure of thorium & titanium. Therefore Vedanta wants to acquire this area. What is the necessity of a township for 5 lakh people here? Vedanta wants to make real estate business over this beautiful area.” Mainstream media is so focused on the POSCO, Tata Steel & Niyamgiri controversies that these issues being raised by the villagers seem to have largely escaped public notice. Hardly anybody in Bhubaneswar – forget Delhi – seem aware that the University will eventually evict the potters who make clay pots used in the Jagannath Temple to distribute and sell the holy Prasad to the thousands – and often hundreds of thousands – of devotees from across India and the world who throng to the temple everyday. Even as we are being bombarded with these facts, my colleague Dhrutikam gets a call on his mobile. We promise to come back in a while and head for the spectacularly beautiful Marine Drive that links Puri with Konark.

We turn left on Marine Drive and reach the edge of the reserved sanctuary that adjoins the Bay of Bengal. I am introduced to a local newspaper journalist who requests me not to use his name because he claims that his job might be in danger because some of his seniors in Bhubaneswar prefer to see things the way Anil Agarwal wants to see them. There is a strong breeze blowing from across the sea as we stare at the trees that dot the sanctuary. Very close to the sanctuary lie cranes and machines abandoned by Vedanta because the locals would not allow it to start work. According to the journalist (later verified by us), the Orissa High Court has declared this a complete no construction zone and ordered the state to plant trees. We see saplings and some trees struggling to grow right next to the sea. This particular place is critical because water plants use freshwater to supply the residents of Puri. Two plants have already been shut as per the orders of the court because the supply of sweet water is now dangerously low. The 6,000 acre Vedanta University will gobble up the only source of freshwater available in these parts in the form of a small river called Nuanai. “In no time, the sanctuary will wither away and the holy town of Puri will be left with no water whatsoever. This place has such deep religious significance for so many Indians, I am amazed how locals don’t seem to realise that their town will be destroyed and there will be no water for the Jagannath Temple.” The journalist says (later confirmed by us by going through the MoU between Vedanta and the government of Orissa) that the University project will be supplied 1,10,000 cusecs of water every day.

Are people living in Puri aware of this? Are the priests – who so vociferously dominate the age old rituals at Jagannath Temple aware of the threat posed to the very existence of the holy shrine? We travel back a few kilometres to Puri to meet a few priests and get another shock. No one with any authority is willing to go on record, though many lament the abode of Lord Jagannath has been sold by some priests and trustees for a pittance. “The then administrator sold the land of Jagannath to Vedanta University at a throwaway price. Can you imagine , the temple administration has received only Rs.80 million for 500 acres of land in Puri-Konark marine drive area. Vedanta University has caused heavy loss to Lord Jagannath. The cost of this land is minimum Rs.5 billion in market rate. If Vedanta establishes the University here, it will destroy the sanctity of this holy town and also Jagannath Temple,” says a senior member of the Managing Committee of Jagannath Temple who refuses to be quoted. He says he can’t be seen to be publicly disagreeing with his own committee. I talk to a few locals in a shambolic version of a straw poll and no one seems to have a clue; and nobody seems interested, saying Lord Jagannath has always protected Puri and will continue to do so.

We are taken by VVSS spokesperson Mishra to Beladala village. This is the place from where Benudhar Pradhan is waging his classic David versus Goliath battle against Anil Agarwal and Vedanta. Though the Rabi crop has been harvested quite some back and the Kharif crop is yet to be sown, the fertile land looks green and tempting. The green coconut milk that we drink and the home grown ‘non-hybrid’ bananas that we get are delicious and soothing. We stare at acres upon acres of fields that belonged to the Jagannath Temple trust and have now been sold to Vedanta. Benudhar Pradhan is adamant, he and his band of warriors will not allow anyone to take away the land. “This land has always belonged to Lord Jagannath. Who are these trustees to sell away our God?”




Monday, August 20, 2012

Quit to fight another day!

Putin should resign to change his perception as a ruthless power hungry political leader; and then (rightfully) reclaim the throne a few months later – that’s a sleight Putin knows too well and has practised well in the past

“Putin is Stalin! Putin is Brezhnev! Russia without Putin!” The protest slogans broke the calm across Moscow’s streets on the occasion of May 1, 2010 – International Labour Day. What made this protest uniquely different from past protests was that this protest – ostensibly in criticism of Putin’s abuse of media freedom and democratic rights – was supported by around 1.7 million people in 1,000 cities across Russia over eight time zones. More than 40,000 people signed a petition demanding Putin’s resignation. One has to realise that in Russia, where Putin’s ruthless power wielding (and stymieing of opposition dissent – sometimes suspiciously violently or through undemocratic jailing) is compared often to mafiosi behaviour, for protestors to come out in the open en masse like this is an ocean of a change. Among the frontrunners in the protests was chess wizard and now political opponent Gary Kasparov.

Putin’s decisions regarding utilities prices, increased taxes on imported cars and environmental initiatives have provided a snowball effect for the wave of discontent. Of late, there have been many more such incidents. Starting from 2007, numerous “Dissenters’ Marches” were organized across various cities like Moscow, Saint Petersburg and Nizhny Novgorod. On January 30, 2010 in Kaliningrad, around 10,000 people came together to protest against Putin’s decision to increase the transportation tax. And in March 10, 2010, Russian opposition activists started an online campaign.

Undeniably, there have been several incidents of human rights abuses and shocking assassinations, purportedly sponsored by the State. Particularly during the second Chechen War, corruption flourished and strengthened its roots and a new group of business lobbyist came into being (Gennady Timchenko, Vladimir Yakunin, Yuriy Kovalchuk and Sergey Chemezov) with personal linkages with Putin.