Ambani Brothers- Brothers in arms or Partners in Crime?

Reliance Jio of Mukesh Ambani's group has taken the Indian telecom market to ransom by adopting some unfair practices with TRAI looking at the other way. You can't sell at a lower price than your cost. Jio being a part of large conglomerate can make sure the losses of Jio get buried in Reliance. However all the telecom companies are now suffering with different service providers reporting losses for the quarter. Dire straits for all telecom providers in India.

Reliance Telecom headed by younger brother Anil is also getting hurt in the process or so claims Anil Ambani. Hit by Reliance Jio’s free offers and disruptive pricing in the telecom industry, Anil is now demanding financial package for stressed telecom industry. Public Banks who had lent to Anil Ambani are finding loan EMI's being defaulted. Default in payment of interest on loans to public banks has been reported in May 2017. Forming new companies, taking loan and putting old companies into debt has become a standard practice in Anil Ambanis group ADAG. In fact Anil floats IPOs to become rich.Simple example of how he makes make money is illustrated below:
Eg 10000 crore is IPO value of Reliance Power which was oversubscribed in 2006, now after say 10 years we know current value of this company! Basically money taken from public is converted to his own money! His company is close to bust, his shareholders value is destroyed yet he has grown several times richer. 

Just in 2015 Anil had purchased India's biggest Defense Shipyard -Pipavav to manufacture Battle Ship's under Make in India Program. The default in payment of interest on loans would bring a bad name to Reliance with debt in range of 44k crores. Fooling Investors is one thing but defaulting on payments to public sector banks and becoming big NPA creator to our public sector banks is just not done by Corporate houses. Seems like all this is happening with support of govt.  It is obvious that Ambanis Brothers keep whosoever comes to power in Delhi in their pocket. Central govt needs to ensure same rule that applied to Mallya on NPA needs to apply for Ambani junior as well.  The Finance Ministry in addition needs to urgently formulate Fiscal Discipline policy guidelines to black list NPA creator Parties/Corporate /any of their group companies to immediately bar them to participate in Govt tenders and auctions. New contracts should not be awarded to defaulters, In addition any NPA, Bank Loan defaulters cannot get any additional/ fresh loans, approvals for any new business or mergers from any of the Govt sectors units.

Questions to be asked at whose money new plans were announced that the group shall enter into defence manufacturing, when the group company cannot pay the interest on earlier loans. RCOM's debt has burgeoned to such an amount highlights failure in our Banking system to put appropriate checks and balances. RCOM was never fundamentally strong and even a lay man on the street knew this. So didn't the Banks know about this. How could they approve loans without any surety of getting it back? Are the Bank Board Members sleeping? India is fast becoming like US where Financial system has no morals.Ultimately RBI, FM Dept will need to answer people when questions of level playing with Mallya on NPA of Public sector banks are raised! Fiscal discipline is RBI accountability so as to ensure NPA mountain does not create an avalanche of bad loans and write-offs on Indian Banking System!

Less said about Big Brother Mukesh. Mukesh is too rotten, he cheats his brother, the Indian govt, ONGC the list is endless, if he makes a loss, it is always India that pays. One has to be real crazy to stand against him so understand the plight of the Indian telecom operators. Mukesh was reported to have been cheating the government of millions of crores on service tax alone. These days Reliance Industries pays a pittance to its shareholders as dividend.

The brothers are following theme "Mere Baap ka sapna.. Sab ka mal apna" Badha Bai and Chota bhai are playing double drama to loot India of national resources & tax money and want Indian tax payers to pay Ambani debt!

Collegium V/S Govt-Who is Supreme

The ongoing tussle between the Executive and Judiciary over appointment of judges to HC is seeing no end. SC repeatedly has slammed government over delay in appointing judges. There is a baggage of National Judicial Appointments Commission (NJAC, brief history below) which was the proposed body that would have been responsible for the appointment and transfer of judges to the higher judiciary in India. The Judiciary does not want political interference. The Govt of the day knows the current judiciary has the Congress imprint. Record number of appointments were done by UPA knowing that they will loose elections in 2014 before May.The current CJI also is a congress appointee and has been making statements in open court like an opposition leader. It was never happened before in history of our nation that a CJI has openly spoken against the Govt of the day, In fact this CJI has tried everything from shedding tears to making statements in court to giving sound bytes to media and loosing his temper in front of the courts.The general perception is that judiciary is the most corrupt and is a heaven of black money.The amount of black money horded by lawyers and judges will be amongst the top in professionals in our country; but alas CJI has no time to clean the muck ridden judicial system. A surgical strike is badly needed in judiciary and it should begin from top. Nowadays SC is increasingly confrontational with the Govt and is micromanaging govt activities. They should instead concentrate doing their business and solve pending cases instead of meddling and behaving like anarchists. Hope saner councils prevail on the entire SC and especially CJI.

Common Man is "SUPREME":
The executive and the judiciary are both responsible and accountable to the common man. It has been noticed that SC has been taking up arbitration's and making comments on Govt actions, in a recent case on demonetization “the common man should not be made to suffer” was what the SC said. However the cases pending in different courts show that the common man is of no consequence. Important people like Kapil Sibal can influence the SC to get a ruling in the night for people who matter to Congress. However the common man waits for generations to get their cases heard and discussed in the courts, There is no hearing for the common man only a new date.

In fact case must be filed against judiciary, they are the one's responsible for today's situation. In last 40-50 years, judiciary has not jailed a single politician or public servant. There is no fear among politician or public servant. Lalu Prasad Yadav is moving freely after looting thousands of crores. All other politician, public servants, businessmen know that cases against them will go on for 30-40 years & they can roam freely. Harshad Mehta case still going on even after his death. In the eyes of common man Judiciary is totally corruptible and useless waste of time. Legal process is so notoriously slow and takes years before reaching any decision giving ample time for people to find ways to plan and execute their escape legally. Our courts are magnanimous when it comes to additional time, adjournments, postponements before and during cases being heard and also various stay orders-stay orders by themselves is fine but cannot be indefinite-should be brought to conclusion.

Any how none of the cases pending in various courts is going to be decided and the judges (if appointed) will be enjoying their salary and perks at the cost of the Exchequer and also loot the common man. Until and unless there is transparency and accountability in the judicial system no more judges should be appointed. In the case of the above tussle of judges appointment, executive and judiciary need to collectively work in the interests of the common man and realize he is the one who matters the most . What the govt can do is to use its lone rangers like Swamy (Subramanium) to expose the 43 proposed judges who are rejected for elevation. This will build public perception and open a pandora box on all previous cases to make collegium disappear! It is important for the government to appoint capable judges who can ensure speedy trial. Govt should work to appoint SC Judges to build a strong, efficient & committed judiciary for country's betterment.

History of NJAC
The proposed NJAC would have replaced the collegium system for the appointment of judges, NJAC was established by amending the Constitution of India through the ninety-ninth constitution amendment vide the Constitution (Ninety-Ninth Amendment) Act, 2014 and unanimously passed by Parliament and ratified by 20 states.On 16 October 2015 the Constitution Bench of Supreme Court by 4:1 Majority upheld the collegium system and struck down the NJAC as unconstitutional, Justices J S Khehar, MB Lokur, Kurian Joseph and Adarsh Kumar Goel had declared the 99th Amendment and NJAC Act unconstitutional while Justice Chelameswar upheld it The SC had asked the government on December 16 last year to finalise the memorandum of procedure (MoP) for the appointment of judges in consultation with the Chief Justice of India-headed collegium. In the seven months since, the judiciary and the government have failed to reach consensus over clauses in the draft MoP, whose formulation is aimed at bringing transparency in the appointment of judges to the higher judiciary.
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Demonetization Commentary

Good:

• Currency (old 500 and 1000 Rs) deposited in Banks; Tax has to be paid on unaccounted money in case of undeclared income. 

1.     Benefits: Internet Startups like Uber who accept digital payments; PayTM Digital wallet company, Credit card Companies etc

2.     Benefits on paper : Cash starved Banks and Govt Of India 

3.     Actual Beneficiary: Lets get real it would be the government kitty and we all know money with government has never been spent on us, it is only for politicians and bureaucracy doing the implementation job. I see no benefit to the COMMON MAN even in the long run, lets get real this is an eye wash. Though policies and laws have always been in place in this country the Common man has never benefitted

4.     Who is affected: 

• Common man, Long queues to withdraw money. 2000 Rs notes are prone to be rejected. Shortage of smaller denomination currency.
• People holding cash which cannot be explained to IT authorities; illegitimate business like extortion, hoarding, smuggling etc

• Fake currency removed from circulation, 

1.     Benefits : Govt Of India and Common Man

2.     Who is affected: 

• Pakistan, Understand they have duplicate RBI facility to print counterfeit notes
• Terrorism, hawala, Maoist activities and Drugs to Punjab, Goa & NE

Bad:

• Political Ramifications; UP and Punjab elections are close by. 

1.     Actual Beneficiary: BJP, as AAP, BSP, SP and other parties will now find it hard to use their war chest of cash to bribe voters

2.     United Opposition conjecture from above 

• Small and medium business which run on daily wages
• Overworked Bank Officials

Ugly:

• Economy; The decision of demonetization were political reasons of winning state elections of UP & Punjab at huge disadvantage to Indian economy,
• Rupee Slide with stock markets in free fall
• Job Creation

Demonetization-Impact on Middle class and Poor

Demonetization-Impact on Middle class and Poor

The announcement of demonetization on 8/9th Nov 2016 has resulted in long queues in front of banks and working ATMs. Though the intention of government is right the implementation was all wrong. Why did the government not make the banks ready with new currency, non available cash in banks with no additional counters was the main reason for the long winding queues. People in these queues were ordinary folks who are salaried class and poor working class people with no chance of getting any benefits from the government for wasting their time waiting for money to be converted. why were the people who exchanged 4000 Rs allowed to do multiple times? why were they not marked with indelible ink the first time?

Govt claims that bank deposits have alone netted 300K crores of money in deposits this week of 15th Nov 2016. This is small change. Why the govt of the day is not running after the big industrialists like Adani, Mallya & Lanco who alone are owing Public banks 500 K crores each, why penalize the poor man? The common man(salaried middle class) does not have servants to go and stand in queues. They pay income tax and continue to pay more tax to the government with Swatch Bharat & Krishi Kalyan tax imposed by the Honorable FM. Mr Mallya and the likes have multiple citizenship go after them, why make a common man pay and pay?What has the PM done in the past? Made people give away their LPG? taxed middle class? Made the army take more bullets? who benefits? Not the poor man on the street! Why the PM cannot ensure all loans are repaid from the big industrial houses? why tax havens in Switzerland and Mauritius working? There is now a new one called Panama too. You shift political and economic power to the wealthy you shaft the working class !

Please ensure the middle class gets some benefits for the pain they undergo. If tax slabs are not brought down there is going to be anger on the street. By invoking patriotism and Nationalistic values that the middle class and poor believe in, do not push ugly and ill thought measures on them. When our PM rode his historic election victory in 2014, he promised more jobs and better life to all, not sure if anything has been done on that front, Time will tell soon. Request to Hon PM is to make things simple with  measures to improve quality, and not to complicate our already busy life any further.

The losers with demonetization is the opposition, be it BSP, SP, AAP or TMC. the biggest winner is the BJP as UP & Punjab elections draw closer. A better idea would have been to kill the parallel economy by removing the big currency notes of 500 & 1000, what we did now is to bring higher denomination note of 2000.  Agreed terrorism, hawala, extortion, maoist activities, black market etc are all affected, but only temporarily, We being "Jugadu" will find a way out so a long term solution to the problem would have helped fight black money to be removed from the system by banning bigger denomination notes. This would have also removed corruption from the system. Make all transactions above 2 lakhs Rs through plastic card.  Make Real estate transactions above 20K compulsorily by Cheque of DD. Then see the war on corruption win, not till then.  Let us switch to plastic money, etransactions etc to make India a cashless and black economy free.

To avoid the backlash from angry indians a carrot of lower income tax for India can be offered, by way of IT relief. Make income tax mandatory for all indians only from 5 lakhs from the present 2.5 lakhs. Another option to reward people using Digital transactions to be put in place before Budget in 2 months.Tax all cash transactions.This will help to reduce the pain and suffering.

Rahul tax and not Jayanthi Tax

 

We remember the Jayanthi Tax quote, the famous quote of Mr Modi during elections where he had insinuated that Congress environment minister Jayanthi Natarajan was collecting money for clearing environment projects for corporates! His quote "We had heard of income, sales and excise taxes but for the first time, we heard about a Jayanthi tax in Delhi without which nothing was moving. Till the time that tax was not paid, files could not be moved in the environment ministry"

 

Jayanthi Natarajan the erstwhile Environment Minister of UPA who was sacked 100 days before elections has today made a few allegations, against the UPA chair person -Sonia Gandhi & Vice president -Rahul Gandhi. She is angry at being axed from her post, sent home before the FICCI meet, unhappy at not being rehabilitated, and finally being stripped of her official spokesperson post.

 

She claims Sonia Gandhi, is indifferent and Rahul Gandhi with his team is planting stories of her in media. As a fourth generation loyal congress worker her family name and dignity was besmirched with the whisper campaign launched against her. This vilifiction of her good name has apparently made Jayanthi spew venom and quit Congress though she herself agreed to being a stooge of Rahul as the environment minister ! She followed high command instructions without following environment norms and constitution as a minister.

 

The points she makes are all interesting, namely:

• Christian missionaries in Kerala influencing decision of non-implementation of Kasturirangan report to protect their land grabs in Western Ghats
• Snoopgate of PM Modi where Jayanthi as spokesperson was forced to misrepresent the facts
• Rahul Gandhi interfered (advised) with Jayanthi's work and was running the environment minister by proxy, he in fact made all the decisions which were more pro-tribal, Was it a bait to convert?
• Rahul wanted environment ministry files to be held up to milk the corporates, He changed the tone just before election to appease the industry (without whom you cannot win election specially congress having no RSS handholding) and became pro-industry in the FICCI meet
• She was asked to step down just a day before the FICCI meet, where Rahul was to use the FICCI meet to posture his industry friendly image
• She brings up the fact that Vedanta, Adani, Nirma, GVK & Lavasa and many other projects were purposefully delayed on the instructions of Rahul & Sonia Gandhi
• Environment clearances were purposefully blocked by her on Sonia & Rahul orders

After hearing these allegations and charges, Congress claims she is corrupt and entered into a deal with BJP to protect her interests.

Has she suddenly found her voice as CBI is at her door? Is she alleging to protect herself? If Congress knew she was corrupt why no FIR was filed against her till she started squealing?

 

Hasta La Vista-Sujatha Singh (IFS)

Bye Bye Sujatha


Hasta la vista” is the Spanish equivalent of the French “Au revoir”. Spoken between friends it means “see you later”. The words literally mean “until the seeing” in the sense of “until our next meeting”.
It can also be used in an ironic sense to mean “bye bye” as in goodbye forever. The classic example being Arnold Schwarzenegger‘s use of “Hasta la vista, baby” in the film The Terminator.

The Foreign Secretary Sujatha Singh was in an overnight announcement abruptly changed. The New Foreign Secretary is S Jaishankar, who was India’s ambassador to the United States. He took over on 29th Jan 2015 when his retirement date was fast approaching 31st Jan 2015. With this new appointment the new Foreign secretary will now have a fixed 2 years appointment.

Daughter of former Intelligence Bureau chief TV Rajeshwar, Singh had taken over as foreign secretary one and a half years ago when the Manmohan Singh government wanted to appoint Jaishankar, her junior, to the post as Sonia the UPA chair person had wanted Sujatha as the Foreign Secreatary, as Sujatha's father was Rajiv's chief spy! So  the only reason she became FS was her father was Rajiv Gandhi's confidant as IB chief. MMS chose 'merit' over 'family legacy' by proposing S.Jaishanker as FS in 2013. But this must have hurt Sonia as the idea of 'dynasty over merit' was being undermined by refusing Sujatha Singh's claim. In fact the rumors in corridors of power then going said that her father 'nearly blackmailed' Sonia by revealing some more dirt about Gandhis if his daughter Sujatha , who then was senior-most IFS officer' was not appointed as FS. He had already used that tactics once before successfully by claiming governorship post retirement from IB. In Durbar of Gandhi's only back-stabbers and blackmailers could rise to power. Modi has changed that. Henceforth the principal of 'Merit over Mediocrity' will prevail in appointments.

Dr Jaishankar, is the son of K Subrahmanyam, who was one of India's leading strategic analysts. So this appointment in a way has finally restored merit to her rightful place in public life. 

Script for New Salman Movie-EK tha Tiger returns

There are rumours doing the rounds of Colombo having asked N Delhi to withdraw its RAW(India's premier spy agency) station chief from Colombo. The RAW chief is alleged to have had a hand in the unseating of Srilankan President Rajapaksha by siding with opposition candidate Maithripala Sirisena . What cost India's Research and Analysis Wing (RAW) station chief K Ilango's job?  The allegation is that he joined the fractious opposition to build a united opposition and persuaded Sirisena to be the presidential candidate for the joint opposition. This expulsion order was apparently issued following the visit to Colombo of India’s National Security Advisor Ajit Doval.

What ever be the allegation of the case, This story is far fetched, In my opinion the west was possibly inclined for anyone other than Rajapaksha. Thanks to his war crimes and his Sino tilt the US & UK hatched a plot and poor K Ilango was caught in the cross fire and became the fallman.

We at least got the story for Ek tha Tiger part 2 with Salman & Jacqueline. This will be a super duper hit if this is released next ID. We can also use the services of Mr Ilango to join India's opposition as well. This will at least give meaning to the opposition!