I WISH A VERY HAPPY NEW YEAR TO ALL MY READERS...
Friends,
I am today comparing the run of Sujana Towers and VIP Ind.Why it happened that though VIP Ind low was Rs.31 in Mar 2009 and Sujana Towers low was Rs 12 and VIP high was Rs 776 and Sujana Towers high was 230....still Sujana Towers is under SEBI scanner and why VIP is not in SEBI scanner?
Isn't that an anamoly that VIP which gave 25 times return is not catching SEBI's eye and Sujana Towers gave 20 times return which is even less RETURN then VIP Ind in same period then why Sujana Towers is getting all brickbets and why not VIP Ind?Both took same period of time but one is under SEBI scanner and one is not!
Well, I have been writing here time and again lately that no stock can move without operator(which are known as market maker in SEBI language) except A gr stocks which is also possible with F&O coming in play as well but that is a big game.
So it is now clear that VIP Ind and Sujana Towers were under operation by a market maker.But to me the operator in Sujana Towers was immature and that of VIP Ind was mature.Sujana Towers price discoverer showed that he is novice in operating stocks while VIP Ind market maker proved that he is a seasoned player.
Sujana Towers went from Rs.62 on sep 21 st to Rs.220 on 25th Nov ..means in 2 months Sujana Towers went from 62 to 220 giving a whopping return of almost 400% or 4 times return.Now was there any hurry to run Sujana Towers so fast so soon?Why it was not operated like the way VIP Ind went up so that SEBI has no problem with it?
That is what the new school of operators needs to learn from seasoned or veteran operators.Why Sujana Towers kept dorment for months togather and start moving up from Sep10?When Sujana Towers was at 12 in Mar 09 it just went to 62 in Sep 10 ?If Sujana Towers had moved from 12 to maybe 80-100 by sep 10 , which would have been a normal case and then 230 by Nov 10 then there would have no problem but when one see a run like Sujana Towers like that it is bound to be under SEBI Scanner.......
So the message here from my blog to the operator or market maker or price discoveror is move a stock in such a way that your name do not come in bad books of SEBI and that is the trick........
VIP moving from 32 to 776 in 18 months didn't make waves because it was moved in such a fashion that doesn't look abnormal but Sujana Towers moving pattern looked abnormal.
Hope some operator read this and take a clue and do the things in such a way that he doesn't come under SEBI scanner.........or under our learned and always on prowl journalist, Sucheta Dalal....LOL.....
Running a stock or operating a stock is an ART and new breeds needs to learn it observing veteran players.It is a very clear case that both VIP Ind and Sujana Towers were operated as both gave phenominal returns in same period of time and like wise there are many examples like that....which can elaborated.I just picked these two.....
Again I repeat, let market maker know that don't keep stocks on same level for longer period and then suddenly start it run and that too many folds, if you will do that way you are bound to be under SEBI scanner......if any stocks needs to run 10 times in a year due to any story coming up or NP going up exponentially and hence rerating going to happen, start the operation well ahead of time ....don't make it run and give 10 times return in 4-6 months........instead make it sure that in whole year the return is 10 times and not in 4-6 months..........don't keep the stock dorment for months togather.........
One more thing that has come to my mind and am writing here is,"Circular Trading", One of my friend told me that Sujana Towers must have come under survelliance system of circular trading and VIP Ind must have not.For that I have to say is, it is not possible for even VIP Ind to go from 32 to 776 without circular trading.So now then what needs to be done?
Well, when circular trading is done, it should look like buying stocks and not trading.It means that there shouldn't be any day trading or trading within a week......under no circumstances it should looked like circular trading and ramping up the price.......It is very clear that whoever took the operation of VIP Ind took great care not to come under SEBI net.....Learn..learn....learn.....learn from the mistakes.......
The defination of circular trading is, one guy buy a stock and other sells it .Both are sitting in different office with different terminal.And then may be next day again the guy who bought sells again to same guy who sold him previous day.......but as it is a circular trading the timing of when the guy who will sell is predetermined so that other guy will also sit at the same time and as soon as the sell orders come from that guy , he will buy immidiately.......otherwise what happens you know?The price will crash with such a huge selling if that guy who is suppose to buy is not sitting there at that time.......
Friday, December 31, 2010
Monday, December 27, 2010
TeleCanor Global Ltd. and Compact Disc Ltd............updates
I have been writing on this and the latest I am getting is, the issue between one investor who use to recomend and then take back his recomendation due to some conflicts with the management has been solved and hence it looks like TeleCanor is back on reckoning and should move up further more from here on........DD is a must....
I am also reading mails wherein they are now recomending Compact Disc giving all sorts of reasons and targts ..etc....take your own call....
I am also reading mails wherein they are now recomending Compact Disc giving all sorts of reasons and targts ..etc....take your own call....
CORPORATE INDIA IS SET TO BEAT RECESSION BLUES
India Inc’s year of bouncing back
As private-sector led growth finds its tipping point, major sectors are reaping benefits
IT’S OFFICIAL. The great Indian growth story looks set for a sequel in 2011 as the economy readies to wipe out any lingering traces of the global recession. Strong growth across sectors promises not just to beat back the recession blues but also cement India’s position as a leading growth centre in Asia alongside China.
Corporate India can take heart from the International Monetary Fund’s projection that the economy will complete the 2010 fiscal year on a 9.7 percent growth rate powered by robust industrial production and a strong macro economic performance. With the transition from public stimulus to private sector sector-led growth underway, industry will be the backbone behind the projected 8.4% growth in the next fiscal.
Spurred on by the phenomenal success of the Coal India IPO, Indian PSUs are clearly on a roll. Year 2011 will begin on a high note with three back to back offerings of blue chip navratna companies. Steel Authority of India, Indian Oil Corporation and Oil and Natural Gas Corporation will hit Dalal Street giving Indian investors a wealth of options to choose from. With studies establishing that wealth creation in PSU IPOs is substantially higher than that of private companies, it looks like a win-win year for the public as well as the PSUs.
The private sector isn’t exactly going to be left behind either. With most sectors ready to build on the growth momentum of 2010, Indian industry has reason to welcome the coming year with open arms. The auto sector which grew at a robust 28 percent in 2010, is ready to rival the heyday growth rate in the IT/ITeS sector in the next few years. “India was the second fastest growing automobile market in 2009-10 and is expected to grow further in the coming year,” says Abheek Barua, chief economist of HDFC Bank. It is estimated that the size of the Indian passenger vehicles segment in 2020 will be close to 9 million units and twowheelers nearly 30 million units.
India’s cash-rich firms are expected to keep up their hunt for overseas targets in 2011 and may top this years record M&A activity. Data from Thomson Reuters, which showed that 2010 was the biggest year for outbound deals for the Indian economy, points at the hunt for natural resources driving overseas deals in the coming year. With companies looking for assets from Africa to Australia, oil, gas, coal and iron ore will feed the hunt for overseas acquisitions even among mid cap companies.
A more than complete recovery from the global recession will be signalled by the hiring spree India Inc is expected to indulge in. Positive sentiments across sectors will spell a boom for the job market according to the Manpower Employment Outlook Survey. The net employment outlook at a high of 42 percent will make Indian employers the most optimistic in terms of addition to their payrolls.
With India one of the 40 most improved economies to do business in according to the Doing Business in 2011 report by the World Bank, China is ready for some stiff competition. As Corporate India finishes the first decade of the new millennium with a bang, the world is watching.
As private-sector led growth finds its tipping point, major sectors are reaping benefits
IT’S OFFICIAL. The great Indian growth story looks set for a sequel in 2011 as the economy readies to wipe out any lingering traces of the global recession. Strong growth across sectors promises not just to beat back the recession blues but also cement India’s position as a leading growth centre in Asia alongside China.
Corporate India can take heart from the International Monetary Fund’s projection that the economy will complete the 2010 fiscal year on a 9.7 percent growth rate powered by robust industrial production and a strong macro economic performance. With the transition from public stimulus to private sector sector-led growth underway, industry will be the backbone behind the projected 8.4% growth in the next fiscal.
Spurred on by the phenomenal success of the Coal India IPO, Indian PSUs are clearly on a roll. Year 2011 will begin on a high note with three back to back offerings of blue chip navratna companies. Steel Authority of India, Indian Oil Corporation and Oil and Natural Gas Corporation will hit Dalal Street giving Indian investors a wealth of options to choose from. With studies establishing that wealth creation in PSU IPOs is substantially higher than that of private companies, it looks like a win-win year for the public as well as the PSUs.
The private sector isn’t exactly going to be left behind either. With most sectors ready to build on the growth momentum of 2010, Indian industry has reason to welcome the coming year with open arms. The auto sector which grew at a robust 28 percent in 2010, is ready to rival the heyday growth rate in the IT/ITeS sector in the next few years. “India was the second fastest growing automobile market in 2009-10 and is expected to grow further in the coming year,” says Abheek Barua, chief economist of HDFC Bank. It is estimated that the size of the Indian passenger vehicles segment in 2020 will be close to 9 million units and twowheelers nearly 30 million units.
India’s cash-rich firms are expected to keep up their hunt for overseas targets in 2011 and may top this years record M&A activity. Data from Thomson Reuters, which showed that 2010 was the biggest year for outbound deals for the Indian economy, points at the hunt for natural resources driving overseas deals in the coming year. With companies looking for assets from Africa to Australia, oil, gas, coal and iron ore will feed the hunt for overseas acquisitions even among mid cap companies.
A more than complete recovery from the global recession will be signalled by the hiring spree India Inc is expected to indulge in. Positive sentiments across sectors will spell a boom for the job market according to the Manpower Employment Outlook Survey. The net employment outlook at a high of 42 percent will make Indian employers the most optimistic in terms of addition to their payrolls.
With India one of the 40 most improved economies to do business in according to the Doing Business in 2011 report by the World Bank, China is ready for some stiff competition. As Corporate India finishes the first decade of the new millennium with a bang, the world is watching.
End The Ethanol Insanity.......
Ethanol damages engines and is not a viable alternative to fossil fuels, but farmers and lobbyists don't want you to know that, says Ed Wallace
IT IS now conceivable that the myth of ethanol as the salvation for America’s energy problem is coming to an end. And maybe we always should have known it would wind up in italics, underlined, with the real facts of the damage ethanol can do to gas-powered motors laid out for all to see in a court of law. I say that because this past Monday a group calling itself the Engine Products Group, comprising small-engine manufacturers, automakers, and boat manufacturers, filed suit in the U.S. Court of Appeals for the District of Columbia to vacate the EPA’s October ruling that using a 15 percent blend of ethanol in the nation’s fuel supplies would not harm 2007 and newer vehicles.
The automakers claim they have no idea whether a higher percentage of ethanol would damage their newer cars—and won’t know until their testing is completed next year. The boat manufacturers claim their engines stay in service much longer, and are therefore more likely to be damaged by this fuel. The small-engine manufacturers are positive E15 would severely shorten the life of their products. According to The Washington Post, that’s already been happening. The source is Mick Matuskey, co-owner of Power and Lawn Equipment of Gaithersburg, Md., who said, “You’re getting half of the life out of the product today [when using E10 ethanol], compared to 30, 40 years ago.”
Ultimately this lawsuit stems from one major issue: Manufacturers have to take legal action to protect their customers from the damage higher blends of ethanol would do to their motors, because their warranties generally don’t cover it. Of course, no such lawsuit would be complete without the ethanol lobby trying to obfuscate the facts of the case. Reuters quoted Tom Buis, head of lobbying group Growth Energy, as saying of the new proposed fuel, “E15 is safe for all vehicles on the road today.”
That’s patently untrue. For years cars nationwide have been damaged when motorists ended up with more than 10 percent ethanol in their fuel. I covered that situation last year in ‘The Great Ethanol Scam’. But ethanol’s newest public-relations problem actually started in the last eight days of November. Having been fervidly pro-ethanol in the last decade of his political career, former Vice-President Al Gore reversed course and apologised for supporting ethanol. Of course, Gore’s reason for taking his original position was perfectly understandable—to a politician. As he told energy conference attendees in Athens, Greece, “One of the reasons I made that mistake is that I paid particular attention to the farmers in my home state of Tennessee, and I had a certain fondness for the farmers of Iowa because I was about to run for President.”
Translated from politics-speak into English: Pandering to farmers gets votes. But if your claimed position is to plan some sort of smart energy policy for America, then getting farmers’ votes shouldn’t be the deciding factor. Curiously, after Energy Secretary Steven Chu admitted on Nov. 29 that ethanol really isn’t any sort of intelligent plan for our nation’s gasoline supplies, Energy Dept. spokeswoman Stephanie Mueller issued that same day a statement vitiating Chu’s comments: “Secretary Chu believes that biofuels can, should, and will vastly expand the economic opportunities for America’s farmers today and in the future.”
One has to wonder whether Mueller understands that Secretary Chu was talking about the business and energy illogic of using food-based fuel for gasoline, not to mention that ethanol is just another farm subsidy program that the public is being told is our best chance to wean ourselves off Middle Eastern oil.
And with farm incomes already up 31 percent in 2010, according to a Dec. 1 article in The Wall Street Journal, why do we need to continue the ethanol foolishness at all? If one is to believe all the business reporting on this subject, speculators have returned en masse to the commodities market (including oil); speculation has already boosted the price of corn by more than $2 a bushel since July. Then again, wheat prices showed similar gains from June to November. So it’s fair to say that many food crop prices on the Chicago Board of Trade were dynamic. Corn prices will go up whether it’s being diverted for fuel or not.
Just before this rash of political honesty, in October the Environmental Protection Agency released its own study concluding that vehicles built in 2007 and since could use gasoline with ethanol in a 15 percent blend without doing any noticeable damage. That seemingly was a green light for gas-station owners to pay for yet another tank and pump to handle this new blend of fuel.
For background, “the EPA’s study” relied on testing by our Energy Dept., a situation that Representative Michael Burgess (R-Tex.) questioned because the EPA is quite capable of doing these tests on its own. This way, however, if a 15 percent blend of ethanol in the gas supply does not perform as expected and numerous vehicles suffer disabling damage as a consequence, the EPA theoretically could shift the blame onto the Energy Dept.’s tests. Yes, that’s the same Energy Dept. whose head said in the last week of November that the future of transportation shouldn’t involve ethanol.
Then, on Dec. 20 automobile manufacturers, boat manufacturers, and the makers of small gas engines filed that lawsuit against the EPA for approving this higher level of ethanol in the nation’s fuel supplies. Meanwhile, the EPA said testing will continue to determine whether a 15 percent blend of ethanol can be used in vehicles older than 2007 models, but put off making the final ruling on those tests. At this point it should be noted the entire logic for forcing more ethanol on the public is the fact that a congressional mandate will increase the amount of ethanol we use to 13.95 billion gallons in 2011.
According to government estimates of total gasoline usage in the U.S., this means all gasoline in America would wind up with a 7.95 percent ethanol blend next year. But that’s based on the assumption gasoline sales will continue to grow as the economy moves slowly toward full recovery, and that assumption may not be valid. In 2010 the low demand for gasoline and the mandate to use ethanol forced an 8.25 percent blend into the nation’s gasoline supply.
An ill-thought-out mandate combines with the power of a political cycle, and no one seems to know when to say “Stop, that’s enough.” It starts with a bad idea: Putting an energy-inefficient fuel filler into the nation’s gas supply and calling that an energy policy. Quickly, engineers and scientists, such as UC-Berkeley’s Tad Patzek, discovered that using corn as the base ingredient at best yields zero improvement; energy used to create the product just barely covers the energy the product delivers to the end users, meaning motorists. At worst it’s a net energy loser. Yet Congress is not forced to re-examine its mandate based on scientific evidence.
The older cars owned by those less financially secure will be the first to go. Maybe when it starts happening to those on more solid financial ground, then someone will listen: Adding an expensive, harmful, useless filler to gasoline just to win farmers’ gratitude is not remotely the same as having a legitimate national energy policy.
—Bloomberg BusinessWeek
IT IS now conceivable that the myth of ethanol as the salvation for America’s energy problem is coming to an end. And maybe we always should have known it would wind up in italics, underlined, with the real facts of the damage ethanol can do to gas-powered motors laid out for all to see in a court of law. I say that because this past Monday a group calling itself the Engine Products Group, comprising small-engine manufacturers, automakers, and boat manufacturers, filed suit in the U.S. Court of Appeals for the District of Columbia to vacate the EPA’s October ruling that using a 15 percent blend of ethanol in the nation’s fuel supplies would not harm 2007 and newer vehicles.
The automakers claim they have no idea whether a higher percentage of ethanol would damage their newer cars—and won’t know until their testing is completed next year. The boat manufacturers claim their engines stay in service much longer, and are therefore more likely to be damaged by this fuel. The small-engine manufacturers are positive E15 would severely shorten the life of their products. According to The Washington Post, that’s already been happening. The source is Mick Matuskey, co-owner of Power and Lawn Equipment of Gaithersburg, Md., who said, “You’re getting half of the life out of the product today [when using E10 ethanol], compared to 30, 40 years ago.”
Ultimately this lawsuit stems from one major issue: Manufacturers have to take legal action to protect their customers from the damage higher blends of ethanol would do to their motors, because their warranties generally don’t cover it. Of course, no such lawsuit would be complete without the ethanol lobby trying to obfuscate the facts of the case. Reuters quoted Tom Buis, head of lobbying group Growth Energy, as saying of the new proposed fuel, “E15 is safe for all vehicles on the road today.”
That’s patently untrue. For years cars nationwide have been damaged when motorists ended up with more than 10 percent ethanol in their fuel. I covered that situation last year in ‘The Great Ethanol Scam’. But ethanol’s newest public-relations problem actually started in the last eight days of November. Having been fervidly pro-ethanol in the last decade of his political career, former Vice-President Al Gore reversed course and apologised for supporting ethanol. Of course, Gore’s reason for taking his original position was perfectly understandable—to a politician. As he told energy conference attendees in Athens, Greece, “One of the reasons I made that mistake is that I paid particular attention to the farmers in my home state of Tennessee, and I had a certain fondness for the farmers of Iowa because I was about to run for President.”
Translated from politics-speak into English: Pandering to farmers gets votes. But if your claimed position is to plan some sort of smart energy policy for America, then getting farmers’ votes shouldn’t be the deciding factor. Curiously, after Energy Secretary Steven Chu admitted on Nov. 29 that ethanol really isn’t any sort of intelligent plan for our nation’s gasoline supplies, Energy Dept. spokeswoman Stephanie Mueller issued that same day a statement vitiating Chu’s comments: “Secretary Chu believes that biofuels can, should, and will vastly expand the economic opportunities for America’s farmers today and in the future.”
One has to wonder whether Mueller understands that Secretary Chu was talking about the business and energy illogic of using food-based fuel for gasoline, not to mention that ethanol is just another farm subsidy program that the public is being told is our best chance to wean ourselves off Middle Eastern oil.
And with farm incomes already up 31 percent in 2010, according to a Dec. 1 article in The Wall Street Journal, why do we need to continue the ethanol foolishness at all? If one is to believe all the business reporting on this subject, speculators have returned en masse to the commodities market (including oil); speculation has already boosted the price of corn by more than $2 a bushel since July. Then again, wheat prices showed similar gains from June to November. So it’s fair to say that many food crop prices on the Chicago Board of Trade were dynamic. Corn prices will go up whether it’s being diverted for fuel or not.
Just before this rash of political honesty, in October the Environmental Protection Agency released its own study concluding that vehicles built in 2007 and since could use gasoline with ethanol in a 15 percent blend without doing any noticeable damage. That seemingly was a green light for gas-station owners to pay for yet another tank and pump to handle this new blend of fuel.
For background, “the EPA’s study” relied on testing by our Energy Dept., a situation that Representative Michael Burgess (R-Tex.) questioned because the EPA is quite capable of doing these tests on its own. This way, however, if a 15 percent blend of ethanol in the gas supply does not perform as expected and numerous vehicles suffer disabling damage as a consequence, the EPA theoretically could shift the blame onto the Energy Dept.’s tests. Yes, that’s the same Energy Dept. whose head said in the last week of November that the future of transportation shouldn’t involve ethanol.
Then, on Dec. 20 automobile manufacturers, boat manufacturers, and the makers of small gas engines filed that lawsuit against the EPA for approving this higher level of ethanol in the nation’s fuel supplies. Meanwhile, the EPA said testing will continue to determine whether a 15 percent blend of ethanol can be used in vehicles older than 2007 models, but put off making the final ruling on those tests. At this point it should be noted the entire logic for forcing more ethanol on the public is the fact that a congressional mandate will increase the amount of ethanol we use to 13.95 billion gallons in 2011.
According to government estimates of total gasoline usage in the U.S., this means all gasoline in America would wind up with a 7.95 percent ethanol blend next year. But that’s based on the assumption gasoline sales will continue to grow as the economy moves slowly toward full recovery, and that assumption may not be valid. In 2010 the low demand for gasoline and the mandate to use ethanol forced an 8.25 percent blend into the nation’s gasoline supply.
An ill-thought-out mandate combines with the power of a political cycle, and no one seems to know when to say “Stop, that’s enough.” It starts with a bad idea: Putting an energy-inefficient fuel filler into the nation’s gas supply and calling that an energy policy. Quickly, engineers and scientists, such as UC-Berkeley’s Tad Patzek, discovered that using corn as the base ingredient at best yields zero improvement; energy used to create the product just barely covers the energy the product delivers to the end users, meaning motorists. At worst it’s a net energy loser. Yet Congress is not forced to re-examine its mandate based on scientific evidence.
The older cars owned by those less financially secure will be the first to go. Maybe when it starts happening to those on more solid financial ground, then someone will listen: Adding an expensive, harmful, useless filler to gasoline just to win farmers’ gratitude is not remotely the same as having a legitimate national energy policy.
—Bloomberg BusinessWeek
Saturday, December 25, 2010
Abdul Hamid....An Act par Excellence....
Friends,
As I said sometimes , my mind wanders restlessly and when it starts wandering it has no horizen.It keeps on thinking out of world inspirational acts and this time I am bringing out one more example which will make all stand up with head high for the devotion and bravery showed by our army......
Read here the real and true story of Param Vir Chakra Abdul Hamid for showing bravery in the War against Pakistan in 1965.I standup and salute Param Vir Chakra Mr.Abdul Hamid for his bravery again after so many years also.......
Read on:
Abdul Hamid (soldier)
From Wikipedia, the free encyclopediaJump to: navigation, search
Abdul Hamid
July 1, 1933(1933-07-01) – September 10, 1965(1965-09-10) (aged 32)
Company Quarter Master Havildar,PVC
Place of birth Dhamupur village of Ghazipur District in Uttar Pradesh
Place of death Chima, Khem Karan Sector
Allegiance India
Service/branch Indian Army
Years of service 1954-1965
Rank Company Quarter Master Havildar
Battles/wars Indo-Pakistani War of 1965
Awards Param Vir Chakra
Company Quarter Master Havildar Abdul Hamid (July 1, 1933 - September 10, 1965) was a soldier in the 4 Grenadiers, Indian Army, who died in the Khem Karan sector during the Indo-Pakistani War of 1965, and was the posthumous recipient of the Republic of India's highest military decoration, the Param Vir Chakra. The award was announced on 16 September 1965, less than a week after the battle that cost his life.
He was born at Dhamupur village of Ghazipur District in Uttar Pradesh on July 1, 1933, the son of lance Naik Usman Farooqi , who was also a jawan in the Grenadiers. He was enrolled in the 4 Grenadiers on 27 December 1954. In the 1988 Television serial Param Vir Chakra by Chetan Anand, Abdul Hamid is played by actor Naseeruddin Shah.
Contents [hide]
1 Action in Indo-Pak War
2 Citation
3 External links
4 References
[edit] Action in Indo-Pak War
In the new defence plan of the Division, 4 Grenadiers occupied a vital area ahead of Chima village on the Khem Karan-Bhikhiwind road. A firm hold on this area was considered essential to sustain the divisional plan of defence. On September 8 night, the enemy made repeated probing attacks on Grenadiers positions but was frustrated in all the attempts. The most serious threat, however, developed when the enemy attacked with a regiment of Patton tanks at 0800 hours on September 10. The attack was preceded by intense artillery shelling so much so that a shell littered every yard of ground occupied by the battalion.
By 0900 hours, the enemy tanks had penetrated the forward company positions. At this critical juncture, Hamid was commanding a recoilless gun detachment. Seeing the gravity of the situation, he moved out to a flank with his gun mounted on a jeep. Intense enemy shelling and tank fire did not deter him. From his new position, he knocked out the leading enemy tank with accurate fire. Then he changed his position and knocked out another enemy tank. By this time the enemy who had spotted his position brought down concentrated machine gun and high explosive fire on him.
But he kept on firing. As he fired to hit yet another enemy tank, he was mortally wounded by a high explosive shell. Throughout this action, CQMH Abdul Hamid inspired his comrades to put up a gallant fight to beat off the enemy tank assault. His sustained act of bravery and disregard for personal safety, in the face of constant enemy fire, were a shining example, not only to his unit but also to the whole division and were in the highest traditions of the Indian Army. Company Quarter Master Havildar Abdul Hamid was honoured with the highest war time gallantry medal, Param Vir Chakra, posthumously
His citation gives him credit for three tanks destroyed; in fact he had destroyed no less than 7 enemy tanks [1]. This is because the citation for Abdul Hamid's PVC was sent on the evening on 9 September 1965 but he destroyed 3 more tanks on the next day, plus the seventh one which also killed him.
PVC Abdul Hamid's actions exposed an important vulnerability in the M48 Patton and after the 1965 war, the M48 was largely forced into extinction from military use around the world and replaced by the M60. India set up a war memorial named "Patton Nagar" ("Patton Town") in Khemkaran District, where the captured Pakistani Patton tanks are displayed. A U.S. study of the battles in South Asia concluded that weaker areas of the Patton's armor (such as rear and sides) could in fact be penetrated by the Ordnance QF 20 pounder guns of the Centurion tank and the 75mm guns of the AMX-13. The U.S had given Pakistan the Patton tanks used in the war.
[edit] Citation
The citation for the Param Vir Chakra awarded to him reads:
COMPANY QUARTER MASTER HAVILDAR ABDUL HAMID
4 GRENADIERS (NO 2639985)
At 0800 hours on 10 September 1965 Pakistan forces launched an attack with a regiment of Patton tanks on a vital area ahead of village Cheema on the Bhikkiwind road in the Khem Karam Sector. Intense artillery shelling preceded the attack. The enemy tanks penetrated the forward position by 0900 hours. Realising the grave situation, Company Quarter Master Havildar Abdul Hamid who was commander of an RCL gun detachment moved out to a flanking position with his gun mounted on a jeep, under intense enemy shelling and tank fire. Taking an advantageous position, he knocked out the leading enemy tank and then swiftly changing his position, he sent another tank up in flames. By this time the enemy tanks in the area spotted him and brought his jeep under concentrated machine-gun and high explosive fire. Undeterred, Company Quarter Master Havildar Abdul Hamid kept on firing on yet another enemy tank with his recoilless gun. While doing so, he was mortally wounded by an enemy high explosive shell.
Havildar Abdul Hamid’s brave action inspired his comrades to put up a gallant fight and to beat back the heavy tank assault by the enemy. His complete disregard for his personal safety during the operation and his sustained acts of bravery in the face of constant enemy fire were a shining example not only to his unit but also to the whole division and were in the highest traditions of the Indian Army.[2]
My Comments:
The only thing I would like to know here is, whether Indian Government is looking after the family of Paran Veer Chakra Abdul Hamid?I doubt they would be taking care of his family......
As I said sometimes , my mind wanders restlessly and when it starts wandering it has no horizen.It keeps on thinking out of world inspirational acts and this time I am bringing out one more example which will make all stand up with head high for the devotion and bravery showed by our army......
Read here the real and true story of Param Vir Chakra Abdul Hamid for showing bravery in the War against Pakistan in 1965.I standup and salute Param Vir Chakra Mr.Abdul Hamid for his bravery again after so many years also.......
Read on:
Abdul Hamid (soldier)
From Wikipedia, the free encyclopediaJump to: navigation, search
Abdul Hamid
July 1, 1933(1933-07-01) – September 10, 1965(1965-09-10) (aged 32)
Company Quarter Master Havildar,PVC
Place of birth Dhamupur village of Ghazipur District in Uttar Pradesh
Place of death Chima, Khem Karan Sector
Allegiance India
Service/branch Indian Army
Years of service 1954-1965
Rank Company Quarter Master Havildar
Battles/wars Indo-Pakistani War of 1965
Awards Param Vir Chakra
Company Quarter Master Havildar Abdul Hamid (July 1, 1933 - September 10, 1965) was a soldier in the 4 Grenadiers, Indian Army, who died in the Khem Karan sector during the Indo-Pakistani War of 1965, and was the posthumous recipient of the Republic of India's highest military decoration, the Param Vir Chakra. The award was announced on 16 September 1965, less than a week after the battle that cost his life.
He was born at Dhamupur village of Ghazipur District in Uttar Pradesh on July 1, 1933, the son of lance Naik Usman Farooqi , who was also a jawan in the Grenadiers. He was enrolled in the 4 Grenadiers on 27 December 1954. In the 1988 Television serial Param Vir Chakra by Chetan Anand, Abdul Hamid is played by actor Naseeruddin Shah.
Contents [hide]
1 Action in Indo-Pak War
2 Citation
3 External links
4 References
[edit] Action in Indo-Pak War
In the new defence plan of the Division, 4 Grenadiers occupied a vital area ahead of Chima village on the Khem Karan-Bhikhiwind road. A firm hold on this area was considered essential to sustain the divisional plan of defence. On September 8 night, the enemy made repeated probing attacks on Grenadiers positions but was frustrated in all the attempts. The most serious threat, however, developed when the enemy attacked with a regiment of Patton tanks at 0800 hours on September 10. The attack was preceded by intense artillery shelling so much so that a shell littered every yard of ground occupied by the battalion.
By 0900 hours, the enemy tanks had penetrated the forward company positions. At this critical juncture, Hamid was commanding a recoilless gun detachment. Seeing the gravity of the situation, he moved out to a flank with his gun mounted on a jeep. Intense enemy shelling and tank fire did not deter him. From his new position, he knocked out the leading enemy tank with accurate fire. Then he changed his position and knocked out another enemy tank. By this time the enemy who had spotted his position brought down concentrated machine gun and high explosive fire on him.
But he kept on firing. As he fired to hit yet another enemy tank, he was mortally wounded by a high explosive shell. Throughout this action, CQMH Abdul Hamid inspired his comrades to put up a gallant fight to beat off the enemy tank assault. His sustained act of bravery and disregard for personal safety, in the face of constant enemy fire, were a shining example, not only to his unit but also to the whole division and were in the highest traditions of the Indian Army. Company Quarter Master Havildar Abdul Hamid was honoured with the highest war time gallantry medal, Param Vir Chakra, posthumously
His citation gives him credit for three tanks destroyed; in fact he had destroyed no less than 7 enemy tanks [1]. This is because the citation for Abdul Hamid's PVC was sent on the evening on 9 September 1965 but he destroyed 3 more tanks on the next day, plus the seventh one which also killed him.
PVC Abdul Hamid's actions exposed an important vulnerability in the M48 Patton and after the 1965 war, the M48 was largely forced into extinction from military use around the world and replaced by the M60. India set up a war memorial named "Patton Nagar" ("Patton Town") in Khemkaran District, where the captured Pakistani Patton tanks are displayed. A U.S. study of the battles in South Asia concluded that weaker areas of the Patton's armor (such as rear and sides) could in fact be penetrated by the Ordnance QF 20 pounder guns of the Centurion tank and the 75mm guns of the AMX-13. The U.S had given Pakistan the Patton tanks used in the war.
[edit] Citation
The citation for the Param Vir Chakra awarded to him reads:
COMPANY QUARTER MASTER HAVILDAR ABDUL HAMID
4 GRENADIERS (NO 2639985)
At 0800 hours on 10 September 1965 Pakistan forces launched an attack with a regiment of Patton tanks on a vital area ahead of village Cheema on the Bhikkiwind road in the Khem Karam Sector. Intense artillery shelling preceded the attack. The enemy tanks penetrated the forward position by 0900 hours. Realising the grave situation, Company Quarter Master Havildar Abdul Hamid who was commander of an RCL gun detachment moved out to a flanking position with his gun mounted on a jeep, under intense enemy shelling and tank fire. Taking an advantageous position, he knocked out the leading enemy tank and then swiftly changing his position, he sent another tank up in flames. By this time the enemy tanks in the area spotted him and brought his jeep under concentrated machine-gun and high explosive fire. Undeterred, Company Quarter Master Havildar Abdul Hamid kept on firing on yet another enemy tank with his recoilless gun. While doing so, he was mortally wounded by an enemy high explosive shell.
Havildar Abdul Hamid’s brave action inspired his comrades to put up a gallant fight and to beat back the heavy tank assault by the enemy. His complete disregard for his personal safety during the operation and his sustained acts of bravery in the face of constant enemy fire were a shining example not only to his unit but also to the whole division and were in the highest traditions of the Indian Army.[2]
My Comments:
The only thing I would like to know here is, whether Indian Government is looking after the family of Paran Veer Chakra Abdul Hamid?I doubt they would be taking care of his family......
Monday, December 20, 2010
Market is down...but not out....Updates...
Friends,
Market is down by 2000 points but stocks are down by over 40-50% and even more .There is a cautious atmosphere in market.Market pundits are advising caution, some are sure about trend reversal as well, means starting of a bear phase.
Perticularly the midcaps has been battered down very badly but then these are the times when one gets great fundamentals stocks cheap.
I like such type of correction which gives chance for investors to lapup good stocks.
Always remember one thing, whatever the market is ,buy the Value.If one finds a stock cheap, disregarding what market is doing one needs to go ahead and buy it.Fundamentals has always given great returns.
I have written many times, making money in market is not easy.Don't borrow money to buy stocks.Don't play in F&O.Don't trade daily in stocks.Don't buy for a week or a month.Market never fulfill our such wish.Market has a very very bad tendency to prove everyone wrong and that it does consistantly without fail.
Never make projection for ST.Never make projection which are abnormal.Market do give abnormal returns but one never knows in which stock one will get that.
For example, if we take Parekh Aluminex,which I recomended here at Rs 105, went on to touch 600.Many readers who follows me wrote me that they have already sold 50% and had made the rest holding free of cost.That is excellent thing to do but when any stock gives abnormal return within a year or year and a half, then readers needs to book profit as well.Like in Parekh Aluminex the return was 600% in a year or year and a half.That is the key here.Booking profit when a stock is giving enormous return is the order of the day as well.Those who bought Sujana Towers at Rs 32 when I recomended and sold 50% at 64 should book profit at 180-200 as well.Sujana Towers ran like a mad bull and in a very short time of last couple of months went from 52 to 230 .Now these type of return is just out of world.Only one is lucky then only one can have stock with them.
Yes, selling 50% at double is my first choice as the holding becomes FREE and one has no investment left.But market is not just taking out money but also making money and if one do not book profit at times one may feel letdown.
Both Parekh Alu and Sujana Towers are excellent cos and will do well in future as well but if one has sold 10-20% he would have been able to buy them again at cheaper rate.
I just read that Serialentrepreneur and ace investor C Sivasankaran has bought 1.5% stake in Sujana Towers for Rs 19 cr at Rs 130( Which is also wayup from my recomended price).He has already picked up stake in K S Oil another tainted stock under SEBI scan.Why an ace investor has to buy a stock which is under SEBI Scanner?Because the fundamentals of the Co is great.
These opearors when they try to move some stocks , not all are without fundamentals.Maybe couple of them are such but 70-80% do have excellent fundamentals otherwise if they try to operate all poor fundamentals stocks then no one would buy it or there can't be huge buying that can come to lift the stock up.So when operators picks up stocks they also pick stocks which have excellent fundamentals.
So don't be afraid of buying stocks which are under operators list which have been manupalated, if you see the fundamentals are good , one need to go ahead and buy it.
Updates:
Sucheta Dala one of the journalist has come out with news that KP is still active and she has wrote some 20 stocks where KP is active and she now says they are K20 stocks instead of K10 in year 2000 which he ran.
So it means that when KP bullrun was on in 1999-2000 of IT sector, he ran only 10 stocks which were then known as K10 and now when KP is debarred by SEBI uptill 2017 he is running 20 stocks!Isn't that looks more surprising?KP in debarred state is more dangerous then without it.......
The list of stock she has given are as under:
1.Orchid Chemicals
2.GMR Infrastructure
3.Cairn India
4.Deccan Chronicle
5.Reliance Industries
6.Punj Lloyd
7.India Bulls Real Estate
8.Pipavav Shipyard
9.MVL
10.Amtek Auto
11.Hindustan Oil Exploration Company
12.Camson Biotechnologies
13.Crew Bos Products
14.UCO Bank
15.East India Hotels
16.State Bank of India
17.OCL India
18.Kemrock Industries
19.Tatia Global Ventures
20.JSW Steel
And so that is how it is K20.....wow! Excellent finding.Now out of these 20 stocks Orchid Chemical, Punj Llyod,Hind Oil Explo are Rakesh Jhunjhunwala's stocks where he has invested big.
Now take Cairns, Ril Ind,State Bank,East India Hotel ,GVR Infra are very very big.Big in the sense they have HUGE Mcap and rigging those shares is just out of world.
She also wrote that KP wanted to buy 60 mn shares of Amtek Auto.
That means that eq is40 cr means, 4 cr shares and is 2 paidup so there will be 20 cr shares and out of that 60mn shares means KP wanted to buy 30% of the eq to rig up the price.
Now Amtek Auto has come down from 200 to 140 and even if we think that promoters and KP were hand in gloves with each other and they gave 6 cr shares to KP they should have got 917 cr from KP even at CMP of Rs 140! Wow! So for a small Co like Amtek Auto ,if KP wants to rig the price , first he needs to have shares and for acquiring it he will have to have Rs.917 cr to buy 60 mn , means 6 cr shares.....now imagine how much he has to put money to run stocks like SBI, RIL Ind where the Mcap is huge?
Is it possible for a person like Ketan Parekh to have 917 cr to buy stake in Amtek Auto and then rig the prices?I don't believe that is possible.
Now just imagine if KP has to run all 20 stocks how much money he will need to corner floating stocks of that shares to rig up the price.
I have written recently, barring A gr stocks there needs to be an operator to move the stock above 50% in a year .The reason I wrote barring A gr is they are having HUGE eq and hence HUGE Mcap and DII's,FII's , HNI's all have taken stake in it and hence it is difficult to rig prices of A gr stocks.
Now coming back again to rigging prices of stocks, 3-4 stocks belongs to where Rakesh Jhunjhunwala has taken stake , and hence it again vindicates my belief that even operators are there that doesn't mean fundamentals are weak.
And according to me it is impossible for anyone to rig up the prices of SBI,Ril Ind, Cairns India which has huge eq and is distributed among many DII's and FII's and promoters.
Market is down by 2000 points but stocks are down by over 40-50% and even more .There is a cautious atmosphere in market.Market pundits are advising caution, some are sure about trend reversal as well, means starting of a bear phase.
Perticularly the midcaps has been battered down very badly but then these are the times when one gets great fundamentals stocks cheap.
I like such type of correction which gives chance for investors to lapup good stocks.
Always remember one thing, whatever the market is ,buy the Value.If one finds a stock cheap, disregarding what market is doing one needs to go ahead and buy it.Fundamentals has always given great returns.
I have written many times, making money in market is not easy.Don't borrow money to buy stocks.Don't play in F&O.Don't trade daily in stocks.Don't buy for a week or a month.Market never fulfill our such wish.Market has a very very bad tendency to prove everyone wrong and that it does consistantly without fail.
Never make projection for ST.Never make projection which are abnormal.Market do give abnormal returns but one never knows in which stock one will get that.
For example, if we take Parekh Aluminex,which I recomended here at Rs 105, went on to touch 600.Many readers who follows me wrote me that they have already sold 50% and had made the rest holding free of cost.That is excellent thing to do but when any stock gives abnormal return within a year or year and a half, then readers needs to book profit as well.Like in Parekh Aluminex the return was 600% in a year or year and a half.That is the key here.Booking profit when a stock is giving enormous return is the order of the day as well.Those who bought Sujana Towers at Rs 32 when I recomended and sold 50% at 64 should book profit at 180-200 as well.Sujana Towers ran like a mad bull and in a very short time of last couple of months went from 52 to 230 .Now these type of return is just out of world.Only one is lucky then only one can have stock with them.
Yes, selling 50% at double is my first choice as the holding becomes FREE and one has no investment left.But market is not just taking out money but also making money and if one do not book profit at times one may feel letdown.
Both Parekh Alu and Sujana Towers are excellent cos and will do well in future as well but if one has sold 10-20% he would have been able to buy them again at cheaper rate.
I just read that Serial
These opearors when they try to move some stocks , not all are without fundamentals.Maybe couple of them are such but 70-80% do have excellent fundamentals otherwise if they try to operate all poor fundamentals stocks then no one would buy it or there can't be huge buying that can come to lift the stock up.So when operators picks up stocks they also pick stocks which have excellent fundamentals.
So don't be afraid of buying stocks which are under operators list which have been manupalated, if you see the fundamentals are good , one need to go ahead and buy it.
Updates:
Sucheta Dala one of the journalist has come out with news that KP is still active and she has wrote some 20 stocks where KP is active and she now says they are K20 stocks instead of K10 in year 2000 which he ran.
So it means that when KP bullrun was on in 1999-2000 of IT sector, he ran only 10 stocks which were then known as K10 and now when KP is debarred by SEBI uptill 2017 he is running 20 stocks!Isn't that looks more surprising?KP in debarred state is more dangerous then without it.......
The list of stock she has given are as under:
1.Orchid Chemicals
2.GMR Infrastructure
3.Cairn India
4.Deccan Chronicle
5.Reliance Industries
6.Punj Lloyd
7.India Bulls Real Estate
8.Pipavav Shipyard
9.MVL
10.Amtek Auto
11.Hindustan Oil Exploration Company
12.Camson Biotechnologies
13.Crew Bos Products
14.UCO Bank
15.East India Hotels
16.State Bank of India
17.OCL India
18.Kemrock Industries
19.Tatia Global Ventures
20.JSW Steel
And so that is how it is K20.....wow! Excellent finding.Now out of these 20 stocks Orchid Chemical, Punj Llyod,Hind Oil Explo are Rakesh Jhunjhunwala's stocks where he has invested big.
Now take Cairns, Ril Ind,State Bank,East India Hotel ,GVR Infra are very very big.Big in the sense they have HUGE Mcap and rigging those shares is just out of world.
She also wrote that KP wanted to buy 60 mn shares of Amtek Auto.
That means that eq is40 cr means, 4 cr shares and is 2 paidup so there will be 20 cr shares and out of that 60mn shares means KP wanted to buy 30% of the eq to rig up the price.
Now Amtek Auto has come down from 200 to 140 and even if we think that promoters and KP were hand in gloves with each other and they gave 6 cr shares to KP they should have got 917 cr from KP even at CMP of Rs 140! Wow! So for a small Co like Amtek Auto ,if KP wants to rig the price , first he needs to have shares and for acquiring it he will have to have Rs.917 cr to buy 60 mn , means 6 cr shares.....now imagine how much he has to put money to run stocks like SBI, RIL Ind where the Mcap is huge?
Is it possible for a person like Ketan Parekh to have 917 cr to buy stake in Amtek Auto and then rig the prices?I don't believe that is possible.
Now just imagine if KP has to run all 20 stocks how much money he will need to corner floating stocks of that shares to rig up the price.
I have written recently, barring A gr stocks there needs to be an operator to move the stock above 50% in a year .The reason I wrote barring A gr is they are having HUGE eq and hence HUGE Mcap and DII's,FII's , HNI's all have taken stake in it and hence it is difficult to rig prices of A gr stocks.
Now coming back again to rigging prices of stocks, 3-4 stocks belongs to where Rakesh Jhunjhunwala has taken stake , and hence it again vindicates my belief that even operators are there that doesn't mean fundamentals are weak.
And according to me it is impossible for anyone to rig up the prices of SBI,Ril Ind, Cairns India which has huge eq and is distributed among many DII's and FII's and promoters.
Wednesday, December 15, 2010
A public discloser....To whomsoever It May Concern.......
Friends,
Today I saw 2 comments from Mr.Samiappa which I have pasted it here.I have also given reply on comment section and I am doing it here as well at front page.
I hope Samiappa read it and understand it properly what is going on......
Samiappa Palanivelan said...
Whomsoever u r...Behave urself when posting comments to my blog...i have clearly mentioned the source of mine, not only in this article but all ...and surely this is not your own creation as you have said...
December 15, 2010 6:54 PM
Samiappa Palanivelan said...
and the comment u posted in my site was :Hey vulgar fellow..Wont you get ashamed of copying content from other websites and pretending to be your own content? It was my own content that you have theft. I will file a case regarding this on you. This is my original post. http://rajeevdesai.blogspot.com/2010/11/beautiful-story-of-appreciation.html By RASHI on Manager! on 12/14/10
December 15, 2010 7:01 PM
My Reply to Samiappa:
Rajeev Desai said...
Hi Samiappa,
It looks like there is some misunderstanding going on.
As you have correctly written that I have already mentioned that I got an email and I pasted it here so that is not my own article.
But I didn't understand what u r talking about posting a comment at your blog.I never visted your blog nor I have written any comments there nor I have accused you for anything.
It looks one of the reader must have visited and wrote that but ofcourse it is not me, the owner of this blog,Rajeev Desai.
I will never do such things to anyone.....
December 15, 2010 7:26 PM
Today I saw 2 comments from Mr.Samiappa which I have pasted it here.I have also given reply on comment section and I am doing it here as well at front page.
I hope Samiappa read it and understand it properly what is going on......
Samiappa Palanivelan said...
Whomsoever u r...Behave urself when posting comments to my blog...i have clearly mentioned the source of mine, not only in this article but all ...and surely this is not your own creation as you have said...
December 15, 2010 6:54 PM
Samiappa Palanivelan said...
and the comment u posted in my site was :Hey vulgar fellow..Wont you get ashamed of copying content from other websites and pretending to be your own content? It was my own content that you have theft. I will file a case regarding this on you. This is my original post. http://rajeevdesai.blogspot.com/2010/11/beautiful-story-of-appreciation.html By RASHI on Manager! on 12/14/10
December 15, 2010 7:01 PM
My Reply to Samiappa:
Rajeev Desai said...
Hi Samiappa,
It looks like there is some misunderstanding going on.
As you have correctly written that I have already mentioned that I got an email and I pasted it here so that is not my own article.
But I didn't understand what u r talking about posting a comment at your blog.I never visted your blog nor I have written any comments there nor I have accused you for anything.
It looks one of the reader must have visited and wrote that but ofcourse it is not me, the owner of this blog,Rajeev Desai.
I will never do such things to anyone.....
December 15, 2010 7:26 PM
Thursday, December 9, 2010
What is happening in market?
Friends,
I know that readers are in delima.What to do ?Whether to average or sell or hold?
This is a very typical type of situation.SEBI has barred Mr.Sanjay Dangi and its properiety firm.Sanjay Dangi said he is going to challenge the verdict.
The name of yesteryear Big Bull(Ketan Parekh) has come in Media that he is operating through front entities of his coetire and is trying to bring him to books.
His old scams examples are coming up in media to scar the investors.
These a clear fight between BULL and BEARS.
This fight is very old.Maybe some 3 decades and more.But the first blood was drawn when Harshad Mehta fought his first battle.Around mid 80's, stock market was completly in rein of bears.There were perticular group who always play the bearish game.They never let any stock go up on fundamentals even if the earnings are growing exponentially.At that time, ACC, Tisco(Tata Steel),Tata Motors, Century Tex etc etc were 100 paidup shares and their price use to remain in the vicinity of 170 to 380.Means if we take current 10 paidup then they use to remain in 17 to 38 rupees range.
The price of these 100 fv stock will go up from 170 to 210 or 240 as soon as the Div is declared and will come back again to 170 as soon as it becomes XD.
If Bonus is declared then it will go to 380or max 400-500.That's it.These the Bears lobby will never let it go above those level and if someone try to take it up from that his stock is hammered in such a way through bear gang that he is out of the market.Such was the power of these bear lobby.When a series of short selling takes place then there is no way an individual can do anything to them.Many tried to swim against the tide of bear cartel but were annihilated or buchtered and became bankrupt and lost everything including their houses and jwelleries.
Then came the entry of Harshad Mehta.He was already there watching all these for sometime.But he took up the challenge singlehandedly and took the fight in bears camp.When he took charge, ACC was 300 and Castrol was 400 and he started making position in ACC.He started buying ACC in Futures which then was known as carryforward trade and the Interest one has to give for carry forward trade for every week , or week by week was known as Badla .
If one has short sold stock and he wants to carry forward it then the int. he use to earn was known as undha badla where the short sellers use to gain badla(interest) and that was a very confusing deal.In the sense that a person who short sell gets the int(badla) from who is long.
Well, Harshad Mehta became bull in that time around late 80's and early 90's and he started buying ACC and Castrol in Longs and in futures( which was known then as carryforward trade).
He kept on buying ACC from 300 , 400, 500, 600, 700 and bears went on selling ACC thinking over 500 ?Oh that can never be the price of ACC.They had never let ACC go beyond that so they went on short selling uptill 1300-1400 and Harshad Mehta kept on buying ACC from bears uptill 1400 and it was alomst all eq was dried up for bears to short sell and they even shortsold over and above that and Harshad Mehta kept buying that came from bears.
Bears were never able to understand how HM is able to buy all they sell.How the money is coming because for any thing to buy , one has to dole out money for that buy he somehow managed with that through banks receipt.
And then the real game started when Dr Manmohan Singh, then Fin Minister, opened up the gates for FII's in 1992 and the market went in frenzy.
ACC went going up and up and it touched Rs.10,000(means 10 paidup, 1000).Now imagine the price people use to see for ACC for decades which is never above 400-500 and it become 10,000!Beras never imagined that ACC can touch Rs 10,000 and no one imagined that.
All these happened in 4-5 months.Bears were in a very bad situation.If we say that avergae price they short sold ACC was a median of 200 and 1400 then it comes to 700 or most probably 800 or 1000 and the price became 10,000 , so the difference between 10,000 and 1000 is a HUGE 9000 rupees! and if someone has short sold just 1000 shares he has to pay the difference of rs.90 lacs in year 1992 and rs 90 lac was a very big amt in 1992 .Just imagine those bears who short sold 10,000 or 1 lac or 2 lac or 5 lac shares what they have to dole out as difference?No way they can fulfill the trade.They have to go to Harshad Mehta and tell him to find a way and close the deal at much lower rate.They were running from pillar to post and try to catch someone who has contact with Harshad Mehta so that they can talk with him and make a deal.The bears never let Teji to happen and whoever tried to go agianst them were slaughtered , so when Hrashad has his day it was going to be very difficult for bears to even talk with him.Harshad was the first person who made a BIG dent in the fort of bears.He came out like a LION.After his bullrun people started taking interest in Dalal Street otherwise Dalal Street was a BIG NO for a small person.Harshad Mehta showed what is the meaning of TEJI.What is called TEJI.He showed what happened where the prices can go in a BULL market.To me he was the pioneer of 1st Bull Market in India.Though he was a college drop out, he was very sharp and able to understand what is going to happen how he was going to deal with it.I know many people do not like him due to scam , but for ONCE he showed bears the HELL.He showed BEARS what the HELL looks like which these BEARS were showing to others! Can anyone imagine the scenario at Dalal Street at that time?Bears faces were dimmed and trying to scramble to even talk with Harshad Mehta to make a deal for their shorts in ACC? Dalal Street was overjoyed with Bears annihilated for the first time in decades.They were slaughtered for the first time.Harshad Mehta was a HERO.
One had to just imagine what should be scenario there.......
In those time when BEARS WERE RULING THE MARKET NO ONE DARE TO SPEAK TEJI.
The word , "SKY IS THE LIMIT "only came after Harshad came on the floor.No one dared to speak, this sentence before Harshad came.
One needs to remember that Harshad Mehta was alone and against him was a whole lobby of bears.A catrel of Bears and to fight with them on each and everyfront was no mean an achievement.He has to play his cards very well otherwise with just one leak of information and Bears will attack him and he is nowhere.That they did at last.Find out where he is getting money and broke the castle which Harshad made.But I have great respect for Harshad Mehta and Ketan Parekh as well.They were real BULLS.Though their way of operating were not legal but they did it.Taking loans and receipts of crores of rupees and playing the game is not easy.It is a game of 100-200 or even 500-1000 cr game and more.
As I once wrote, keeping market in 20% upper circuit is no child's play which we saw in 2009 when election results were declared.
That is how Harshad Mehta broke the legacy of BEAR LOBBY.He was the first BULL of our market.Though his way of doing things were not correct but he once showed to the BEARS that they can't WIN and dictate the price of any stock at their WILL.
Many bears of that time has now turned BULLS and some are still there playing both the games still.They are BEARS at oppertunity and BULLS at different scenario that takes place.They change their stand according to what is happening in Int market and how BULL are palying their cards.But now we don't see permanent BEAR and that was the difference Harshad Mehta brought to our market.We have bull run as well as bear run.Otherwise in old days it was only bearrun and nothing else.
I remember people use to buy in certian months and sell in certain months.The profit was average 20% and these cycle use to come 3 to 4 times every year.The months were predecided.Buy in these months, sell after 2-3months take 20 % and again buy after couple of months and sell.....
Some of the Bear operators has such a holding on Dalal Street, which was fondly known as, that they tell the Co Chairman whom to take as Director.He will sit with a wishlist and call CM or send message that keep this person as Dir or your Co price will be broken.Yes, that was how itr was.They even dictate when to give Bonus.They first corner the stock and then pressurize the CM to declare Bonus.Some one will go at the AGM of the Co and will openly pressurize the managemet to declare Bonus.
Those who are new in market do not know anything.You are all just a 1/1000 th percent of a drop in an ocean.Even now what is going on in market , many shouldn't be aware of but there is going on a BIG fight between BULLS and BEARS and each one trying to come one up against each other.It is a MEGA FIGHT BETWEEN BULLS AND BEARS.
These Bear Lobby tried to play with Riliance Ind and Dhirubhai Ambani taught them such a lesson that from there onwards Bears never touched Ril Ind.Bears tried to play the same game with Ril Ind short selling, and Dhirubhai dealt it with BEARS.
That story , about what happened can be read in a Book.I forget the name of the Book but if one will google one will definately find it.It is worth reading how Dhirubhai did it.
The fight between Bulls and Bears are not new in Indian Market nor is in International Market.
This will keep on happening but stock with great fundamentals one will get only in these type of situations.I have been going through the Bulk Deals everyday at bse site and I can say that many HNI's has to sell their holding due to margin pressure etc.
"No stock can go up without operator."
These is a very big sentence but it is true.Stock can never move up over 40-50% withour operator.It is not possible for investor to move a stock over 40-50%.If a stock is giving over 50% return in a year then operator needs to come in picture.The floating stock needs to get dried and there needs to be the paucity of floating stock.The counter then becomes almost dry and then the operation starts.
Hard to explain all these here.I am also not much aware of how things happens but just writing how it happens on my own assumption.
Market will bounce back.This is the fight betwen bulls and bears and nothing else.India is growing.....
I know that readers are in delima.What to do ?Whether to average or sell or hold?
This is a very typical type of situation.SEBI has barred Mr.Sanjay Dangi and its properiety firm.Sanjay Dangi said he is going to challenge the verdict.
The name of yesteryear Big Bull(Ketan Parekh) has come in Media that he is operating through front entities of his coetire and is trying to bring him to books.
His old scams examples are coming up in media to scar the investors.
These a clear fight between BULL and BEARS.
This fight is very old.Maybe some 3 decades and more.But the first blood was drawn when Harshad Mehta fought his first battle.Around mid 80's, stock market was completly in rein of bears.There were perticular group who always play the bearish game.They never let any stock go up on fundamentals even if the earnings are growing exponentially.At that time, ACC, Tisco(Tata Steel),Tata Motors, Century Tex etc etc were 100 paidup shares and their price use to remain in the vicinity of 170 to 380.Means if we take current 10 paidup then they use to remain in 17 to 38 rupees range.
The price of these 100 fv stock will go up from 170 to 210 or 240 as soon as the Div is declared and will come back again to 170 as soon as it becomes XD.
If Bonus is declared then it will go to 380or max 400-500.That's it.These the Bears lobby will never let it go above those level and if someone try to take it up from that his stock is hammered in such a way through bear gang that he is out of the market.Such was the power of these bear lobby.When a series of short selling takes place then there is no way an individual can do anything to them.Many tried to swim against the tide of bear cartel but were annihilated or buchtered and became bankrupt and lost everything including their houses and jwelleries.
Then came the entry of Harshad Mehta.He was already there watching all these for sometime.But he took up the challenge singlehandedly and took the fight in bears camp.When he took charge, ACC was 300 and Castrol was 400 and he started making position in ACC.He started buying ACC in Futures which then was known as carryforward trade and the Interest one has to give for carry forward trade for every week , or week by week was known as Badla .
If one has short sold stock and he wants to carry forward it then the int. he use to earn was known as undha badla where the short sellers use to gain badla(interest) and that was a very confusing deal.In the sense that a person who short sell gets the int(badla) from who is long.
Well, Harshad Mehta became bull in that time around late 80's and early 90's and he started buying ACC and Castrol in Longs and in futures( which was known then as carryforward trade).
He kept on buying ACC from 300 , 400, 500, 600, 700 and bears went on selling ACC thinking over 500 ?Oh that can never be the price of ACC.They had never let ACC go beyond that so they went on short selling uptill 1300-1400 and Harshad Mehta kept on buying ACC from bears uptill 1400 and it was alomst all eq was dried up for bears to short sell and they even shortsold over and above that and Harshad Mehta kept buying that came from bears.
Bears were never able to understand how HM is able to buy all they sell.How the money is coming because for any thing to buy , one has to dole out money for that buy he somehow managed with that through banks receipt.
And then the real game started when Dr Manmohan Singh, then Fin Minister, opened up the gates for FII's in 1992 and the market went in frenzy.
ACC went going up and up and it touched Rs.10,000(means 10 paidup, 1000).Now imagine the price people use to see for ACC for decades which is never above 400-500 and it become 10,000!Beras never imagined that ACC can touch Rs 10,000 and no one imagined that.
All these happened in 4-5 months.Bears were in a very bad situation.If we say that avergae price they short sold ACC was a median of 200 and 1400 then it comes to 700 or most probably 800 or 1000 and the price became 10,000 , so the difference between 10,000 and 1000 is a HUGE 9000 rupees! and if someone has short sold just 1000 shares he has to pay the difference of rs.90 lacs in year 1992 and rs 90 lac was a very big amt in 1992 .Just imagine those bears who short sold 10,000 or 1 lac or 2 lac or 5 lac shares what they have to dole out as difference?No way they can fulfill the trade.They have to go to Harshad Mehta and tell him to find a way and close the deal at much lower rate.They were running from pillar to post and try to catch someone who has contact with Harshad Mehta so that they can talk with him and make a deal.The bears never let Teji to happen and whoever tried to go agianst them were slaughtered , so when Hrashad has his day it was going to be very difficult for bears to even talk with him.Harshad was the first person who made a BIG dent in the fort of bears.He came out like a LION.After his bullrun people started taking interest in Dalal Street otherwise Dalal Street was a BIG NO for a small person.Harshad Mehta showed what is the meaning of TEJI.What is called TEJI.He showed what happened where the prices can go in a BULL market.To me he was the pioneer of 1st Bull Market in India.Though he was a college drop out, he was very sharp and able to understand what is going to happen how he was going to deal with it.I know many people do not like him due to scam , but for ONCE he showed bears the HELL.He showed BEARS what the HELL looks like which these BEARS were showing to others! Can anyone imagine the scenario at Dalal Street at that time?Bears faces were dimmed and trying to scramble to even talk with Harshad Mehta to make a deal for their shorts in ACC? Dalal Street was overjoyed with Bears annihilated for the first time in decades.They were slaughtered for the first time.Harshad Mehta was a HERO.
One had to just imagine what should be scenario there.......
In those time when BEARS WERE RULING THE MARKET NO ONE DARE TO SPEAK TEJI.
The word , "SKY IS THE LIMIT "only came after Harshad came on the floor.No one dared to speak, this sentence before Harshad came.
One needs to remember that Harshad Mehta was alone and against him was a whole lobby of bears.A catrel of Bears and to fight with them on each and everyfront was no mean an achievement.He has to play his cards very well otherwise with just one leak of information and Bears will attack him and he is nowhere.That they did at last.Find out where he is getting money and broke the castle which Harshad made.But I have great respect for Harshad Mehta and Ketan Parekh as well.They were real BULLS.Though their way of operating were not legal but they did it.Taking loans and receipts of crores of rupees and playing the game is not easy.It is a game of 100-200 or even 500-1000 cr game and more.
As I once wrote, keeping market in 20% upper circuit is no child's play which we saw in 2009 when election results were declared.
That is how Harshad Mehta broke the legacy of BEAR LOBBY.He was the first BULL of our market.Though his way of doing things were not correct but he once showed to the BEARS that they can't WIN and dictate the price of any stock at their WILL.
Many bears of that time has now turned BULLS and some are still there playing both the games still.They are BEARS at oppertunity and BULLS at different scenario that takes place.They change their stand according to what is happening in Int market and how BULL are palying their cards.But now we don't see permanent BEAR and that was the difference Harshad Mehta brought to our market.We have bull run as well as bear run.Otherwise in old days it was only bearrun and nothing else.
I remember people use to buy in certian months and sell in certain months.The profit was average 20% and these cycle use to come 3 to 4 times every year.The months were predecided.Buy in these months, sell after 2-3months take 20 % and again buy after couple of months and sell.....
Some of the Bear operators has such a holding on Dalal Street, which was fondly known as, that they tell the Co Chairman whom to take as Director.He will sit with a wishlist and call CM or send message that keep this person as Dir or your Co price will be broken.Yes, that was how itr was.They even dictate when to give Bonus.They first corner the stock and then pressurize the CM to declare Bonus.Some one will go at the AGM of the Co and will openly pressurize the managemet to declare Bonus.
Those who are new in market do not know anything.You are all just a 1/1000 th percent of a drop in an ocean.Even now what is going on in market , many shouldn't be aware of but there is going on a BIG fight between BULLS and BEARS and each one trying to come one up against each other.It is a MEGA FIGHT BETWEEN BULLS AND BEARS.
These Bear Lobby tried to play with Riliance Ind and Dhirubhai Ambani taught them such a lesson that from there onwards Bears never touched Ril Ind.Bears tried to play the same game with Ril Ind short selling, and Dhirubhai dealt it with BEARS.
That story , about what happened can be read in a Book.I forget the name of the Book but if one will google one will definately find it.It is worth reading how Dhirubhai did it.
The fight between Bulls and Bears are not new in Indian Market nor is in International Market.
This will keep on happening but stock with great fundamentals one will get only in these type of situations.I have been going through the Bulk Deals everyday at bse site and I can say that many HNI's has to sell their holding due to margin pressure etc.
"No stock can go up without operator."
These is a very big sentence but it is true.Stock can never move up over 40-50% withour operator.It is not possible for investor to move a stock over 40-50%.If a stock is giving over 50% return in a year then operator needs to come in picture.The floating stock needs to get dried and there needs to be the paucity of floating stock.The counter then becomes almost dry and then the operation starts.
Hard to explain all these here.I am also not much aware of how things happens but just writing how it happens on my own assumption.
Market will bounce back.This is the fight betwen bulls and bears and nothing else.India is growing.....
Friday, December 3, 2010
Time to Look at SNL Bearing again..?cmp....39
Friends,
SNL Bearing is my old call given at Rs 11 and then it went on to touch Rs.107 and then went down and down to make a bottom of Rs 32-33 recently and is now again up.
Those who tried to average at 70 or 50 , their fingures were burnt and it went down and down more and more scaring those who bought around 70 or 50.But no worry, it will bounce back and should cross the previous high but will take time.
But after touching low of 32-33 recently it seems that all the poison is taken out and is now on a firmer ground.Even from now it will take time to cross the previous high of 107 but looks like 32-33 should not come again.
So it is buying time again for SNL Bearing.The fundamentals has not changed and the last runup from 11 to 107 was ahead of performance but that is how market is.When momentum starts in any stock, it keeps going up and investor feel they miss the opportunity and when they try to buy high the down journey starts.
Well, now at 39 looks like a good bet for LT , means for couple of years.
It is still NRB Ltd Co and the promoters has not changed and hence still it is strong on fundamental footing.
The thing that needs to watch out closely is what orders SNL is getting and what will be the topline.That is important and with range of products with it, there shouldn't be any problem.
Investors need to look at these type of Cos more and more instead of investing in hearsay TIPS from friends which is make or break like situation.Either one lose the money or make huge but that is not the cup of tea for all.
Here again we can see that SNL is a MNC promoters Co and there can be no scam under it.It is a profit making Co and is in a sector which is growing.The bearing demand will keep on going up with Infra projects coming up.
SNL seems to me the safest bet in present scenario which ia at a very good price at just Rs 30-40.
Remember friends, making money in market is not easy.One always gets carried away by market and advices from friends.
Recent downtrend shows that in just 10 trading session , market was down by just 7-8% but midcaps were down by 30-40% .So it is never easy to make money in stock market.One mistake and all profit in others stock made vanished.
I again write here to my readers.
"Please do not play in F&O and please do not do day trading or any type of trading.Be it a week or 15 days or even a month.Don't borrow money to buy stocks.It is never a great idea any time"
Market never fulfill our wish.It has a very bad habit to prove all of us wrong again and again.When players like Harshad Mehta,Ketan Parekh and some old players who tried to play the market according to their wish didn't obliged them then who are we? We are just peanuts.Respect the market.Learn to respect the market.One think that he will buy for 1 month and take 10-20% profit and sell it,but that rarely happens.Even if it has happened once it will not happen next time or thrid time.Making profit in one trade or couple of trades will give you a false confidence that now you know how market works but that is never true.When I was in India, I have seen people playing in F&O and day trading and they make such a loss that they goes in debt and someone else has to pay for them , like father, brother etc. or if no one is there to pay for the loss then he will go hiding some places or has to leave the city and live somewhere else.Yes, I have seen such people.Even if they come to that city to meet someone they keep hiding from people who owes money from him.That is not a good situation for anyone.
If wishes were horses.Only those who has the capacity to hold for 3-4 yrs will win.There is no guarentee that stock you have bought will run in 6 months or even after a year so one must always be ready to hold for longer time.
I once wrote that in stock market, it is never 1+1 =2.
I would like to add here that many times 1+1=0 or 1+1 = -1( minus 1)
as we have seen and even I have experianced that your whole investment becomes Zero and even one goes in loss.One gets in debt and that is where the formula comes 1+1 = -1.
But if you have conviction and if you are doing the right thing at right time then 1+1 = 11 .
SNL Bearing is my old call given at Rs 11 and then it went on to touch Rs.107 and then went down and down to make a bottom of Rs 32-33 recently and is now again up.
Those who tried to average at 70 or 50 , their fingures were burnt and it went down and down more and more scaring those who bought around 70 or 50.But no worry, it will bounce back and should cross the previous high but will take time.
But after touching low of 32-33 recently it seems that all the poison is taken out and is now on a firmer ground.Even from now it will take time to cross the previous high of 107 but looks like 32-33 should not come again.
So it is buying time again for SNL Bearing.The fundamentals has not changed and the last runup from 11 to 107 was ahead of performance but that is how market is.When momentum starts in any stock, it keeps going up and investor feel they miss the opportunity and when they try to buy high the down journey starts.
Well, now at 39 looks like a good bet for LT , means for couple of years.
It is still NRB Ltd Co and the promoters has not changed and hence still it is strong on fundamental footing.
The thing that needs to watch out closely is what orders SNL is getting and what will be the topline.That is important and with range of products with it, there shouldn't be any problem.
Investors need to look at these type of Cos more and more instead of investing in hearsay TIPS from friends which is make or break like situation.Either one lose the money or make huge but that is not the cup of tea for all.
Here again we can see that SNL is a MNC promoters Co and there can be no scam under it.It is a profit making Co and is in a sector which is growing.The bearing demand will keep on going up with Infra projects coming up.
SNL seems to me the safest bet in present scenario which ia at a very good price at just Rs 30-40.
Remember friends, making money in market is not easy.One always gets carried away by market and advices from friends.
Recent downtrend shows that in just 10 trading session , market was down by just 7-8% but midcaps were down by 30-40% .So it is never easy to make money in stock market.One mistake and all profit in others stock made vanished.
I again write here to my readers.
"Please do not play in F&O and please do not do day trading or any type of trading.Be it a week or 15 days or even a month.Don't borrow money to buy stocks.It is never a great idea any time"
Market never fulfill our wish.It has a very bad habit to prove all of us wrong again and again.When players like Harshad Mehta,Ketan Parekh and some old players who tried to play the market according to their wish didn't obliged them then who are we? We are just peanuts.Respect the market.Learn to respect the market.One think that he will buy for 1 month and take 10-20% profit and sell it,but that rarely happens.Even if it has happened once it will not happen next time or thrid time.Making profit in one trade or couple of trades will give you a false confidence that now you know how market works but that is never true.When I was in India, I have seen people playing in F&O and day trading and they make such a loss that they goes in debt and someone else has to pay for them , like father, brother etc. or if no one is there to pay for the loss then he will go hiding some places or has to leave the city and live somewhere else.Yes, I have seen such people.Even if they come to that city to meet someone they keep hiding from people who owes money from him.That is not a good situation for anyone.
If wishes were horses.Only those who has the capacity to hold for 3-4 yrs will win.There is no guarentee that stock you have bought will run in 6 months or even after a year so one must always be ready to hold for longer time.
I once wrote that in stock market, it is never 1+1 =2.
I would like to add here that many times 1+1=0 or 1+1 = -1( minus 1)
as we have seen and even I have experianced that your whole investment becomes Zero and even one goes in loss.One gets in debt and that is where the formula comes 1+1 = -1.
But if you have conviction and if you are doing the right thing at right time then 1+1 = 11 .
Monday, November 29, 2010
Beautiful Story of Appreciation..............
Friends,
I have got an email wherein I got this wonderful story.Whether that actually happened or not is another thing but it is TRUE depiction of what someone is doing for us an how we need become so ungrateful.....
Read on:This is really nice, hope you enjoy reading this as much as I did.
One young academically excellent person went to apply for a managerial position in a big company.
He passed the first interview, the director did the last interview, made the last decision.
The director discovered from the CV that the youth's academic achievements were excellent all the way, from the secondary school until the postgraduate research, never had a year when he did not score.
The director asked, "Did you obtain any scholarships in school?" the youth answered "none".
The director asked, " Was it your father who paid for your school fees?" The youth answered, "My father passed away when I was one year old, it was my mother who paid for my school fees.
The director asked, " Where did your mother work?" The youth answered, "My mother worked as clothes cleaner. The director requested the youth to show his hands. The youth showed a pair of hands that were smooth and perfect.
The director asked, " Have you ever helped your mother wash the clothes before?" The youth answered, "Never, my mother always wanted me to study and read more books. Furthermore, my mother can wash clothes faster than me.
The director said, "I have a request. When you go back today, go and clean your mother's hands, and then see me tomorrow morning.
The youth felt that his chance of landing the job was high. When he went back, he happily requested his mother to let him clean her hands. His mother felt strange, happy but with mixed feelings, she showed her hands to the kid.
The youth cleaned his mother's hands slowly. His tear fell as he did that. It was the first time he noticed that his mother's hands were so wrinkled, and there were so many bruises in her hands. Some bruises were so painful that his mother shivered when they were cleaned with water.
This was the first time the youth realized that it was this pair of hands that washed the clothes everyday to enable him to pay the school fee. The bruises in the mother's hands were the price that the mother had to pay for his graduation, academic excellence and his future.
After finishing the cleaning of his mother hands, the youth quietly washed all the remaining clothes for his mother.
That night, mother and son talked for a very long time.
Next morning, the youth went to the director's office.
The Director noticed the tears in the youth's eyes, asked: " Can you tell me what have you done and learned yesterday in your house?"
The youth answered, " I cleaned my mother's hand, and also finished cleaning all the remaining clothes'
The Director asked, " please tell me your feelings."
The youth said, Number 1, I know now what is appreciation. Without my mother, there would not the successful me today. Number 2, by working together and helping my mother, only I now realize how difficult and tough it is to get something done. Number 3, I have come to appreciate the importance and value of family relationship.
The director said, " This is what I am looking for to be my manager.
I want to recruit a person who can appreciate the help of others, a person who knows the sufferings of others to get things done, and a person who would not put money as his only goal in life. You are hired.
Later on, this young person worked very hard, and received the respect of his subordinates. Every employee worked diligently and as a team. The company's performance improved tremendously.
Conclusion:
A child, who has been protected and habitually given whatever he wanted, would develop "entitlement mentality" and would always put himself first. He would be ignorant of his parent's efforts. When he starts work, he assumes that every person must listen to him, and when he becomes a manager, he would never know the sufferings of his employees and would always blame others. For this kind of people, who may be good academically, may be successful for a while, but eventually would not feel sense of achievement.
He will grumble and be full of hatred and fight for more. If we are this kind of protective parents, are we really showing love or are we destroying the kid instead?*
You can let your kid live in a big house, eat a good meal, learn piano, watch a big screen TV. But when you are cutting grass, please let them experience it. After a meal, let them wash their plates and bowls together with their brothers and sisters. It is not because you do not have money to hire a maid, but it is because you want to love them in a right way. You want them to understand, no matter how rich their parents are, one day their hair will grow gray, same as the mother of that young person. The most important thing is your kid learns how to appreciate the effort and experience the difficulty and learns the ability to work with others to get things done.
My Comments:
Well, the writer has put onus on parents.I differ here a little bit.Why not the children don't understand it in time?
But the bottomline is, where you are, you have been standing on someone's shoulder .Someone has helped you.It can be mother, it can be father, it can be sister, it can be brother, it can be friend,it can be someone unknown( and that is I say, GOD) .
It is all someone who did somewhere for you in whatever little way and if one feels it then one need to be grateful for that.
I have seen people saying , I care for NONE.Well, that is fine but then no one cares for you as well.That other person has the same liberty not to care for you and if all people in the world starts thinking like that imagine how the world can be?
Well, I have seen successful people always having that feeling that they did it .They planned it.They are the architect of what they are now?But I ask again , is it true?
To me it is BIG NO.Why Warren Buffet and Bills Gates has to do the philanthropic work?Can anyone tell me ?They can say, why I should help someone?Who helped us?We did on our own?Why we have to help anyone?Let them do on their own?
But still they are helping others and that too not in their own country but in other countires like Ethopia, India and many more.
According to me, if your prosperity is just staying with you and is not percolating to first your relatives , then friends and then the society then becoming rich and sucessful makes no sense.
Life is just not ME.It is bigger then that.
I have seen people giving donations to bulid Hospitals.Donating for good cause.Are they MAD?Why are they doing this?They got the money wrong way and hence trying to make up for that?
No, they have understood that in LIFE, their success is GOD send.You are a GOD chosen child and hence you have to help others.
If someone wants to become an Actor can anyone do that?No....why?Why if someone wants to become an actor he/she can't?If anyone wants to become a singer, can he/she do it?NO.Why is it so?
Can there be many Lata Mangeshkar?Can there be many Moh Rafi?NO.Why is it so?
These talent comes from birth.You got it from your birth.In 1947, Geeta Roy( Dutt) was given 6 out of 9 songs of the Film named "Do Bhai".It was S D Burman who put so much of faith in that teenage girl.
Geeta Roy(Dutt) was just 17 at that time and she was not even a singer and the song, "Mera Sundar sapna beet gaya" became instant hit.She became an immidiate superstar in just few months and that happened when some great singers were already there like, Noorjahan , Suraiya, Shamshad Begum,Raj Kumari etc etc.Geeta Roy( Dutt) was an instant hit.She sang a song in Gujarati film as well in 1949.She was just 19 at that time and mindwell at that time she even didn't know Hindi properly actually not at all .She use to takes notes in her language( Bengali) and sing and still her pronounciation were excellent.Let us even try to pronounce a single line in other language then our mother tounge?Will we be able to do that?Then?This is a whole song and that too at the age of just 17, as that time she knew only one language and that is Bengali...and she sang "Mera Sundar Sapna Beet Gaya"! That is MAGIC.She created a MAGIC. A new different voice has arrived.She sang in Gujarati at a very tender age of 19.......Geeta Roy was par excellence.Her voice was one of a kind and no one can match it.
If one can hear her in Kagaz Ke Phool, "Waqt ne kiya kya haseen sitam tum rahe na tum hum rahe na hum....." only Geeta Dutt can bring that pain and agony in the voice.......or her mischivious voice in Mr and Mrs 55, "Thandi Hawa kali Ghata a hi gayi jhoom ke"..............Geeta Dutt was versatile.The only things that happened bad , according to me was, she sang only for Guru Dutt films and hence after marrying Guru Dutt, her songs were limited to just what her husband Guru Dutt will produce.She sang only for Guru Dutt and what she got for that?That is a different story to tell.....
The film in which she sang in Gujarati film was "Mangal Fera" where in Nirupa Roy, our favourite mother of Hindi Film acted as Heroine and if one hear the song of that Gujarati Film sung by Geeta Roy( Dutt) and A R Oza, Rakh na Ramakada, one will never believe that Geeta Roy( Dutt) was not knwoing the language.She was perfect in Gujarati pronounciation.
Geeta Roy married Guru Dutt and hence her last name changed from Roy to Dutt.
If someone wants to hear that SONG , one can write , Rakh na Ramakada , in YOU TUBE , and one will be able to hear it.And I would suggest to hear that song who understand or knows Gujarati.
Now that is talent.It is GOD Gift.
Can anyone do it if anyone wants to?NO.That was a GOD gift to Geeta Dutt.Her voice.
The charismatic smile of yesteryear super star Rajesh Khanna.Did Rajesh Khanna developed that smile?He got on his face.He got from GOD.In film Ind your face plays very important role and then comes the talent.We have seen many beautiful face becoming successful even though they have no acting talent.Now here someone is becoming successful only because he/she has got beautiful face, what we will tell it?Where he got this face?He himself got it?He developed it or he planned it ?No planning ,no hardlabour, nothing works when luck works and in film Ind , only luck works.Worst of the film made becomes a huge success and best of film get flopped.We have read that the best film critic said has flopped.Why that happens?
Have anyone ever heard the name of Uttam Singh?Scratching your head.He is the Music Dir of the film "Dil To Pagal Hai".The music was a super hit.Every songs were superhit and that's it.
After that Uttam Singh was never able to create that magic.What is that?Now no one remembers Uttam Singh.His work in Dil Top Pagal Hai.
Same O.P Nayyar who gave hit after hits from 1952,lost his touch and he himself took exile from Music around 1970.
Why someone lose a touch?It is a talent , how one can lose it.It was not so that he became wayward and hence that happened.No.
But the time was over.O.P.Nayar himself spoke in one music occassion on ZEE Tv that he was knowing that his time is now ending.What is that TIME?That is LUCK.That is Destiny.
I have got an email wherein I got this wonderful story.Whether that actually happened or not is another thing but it is TRUE depiction of what someone is doing for us an how we need become so ungrateful.....
Read on:This is really nice, hope you enjoy reading this as much as I did.
One young academically excellent person went to apply for a managerial position in a big company.
He passed the first interview, the director did the last interview, made the last decision.
The director discovered from the CV that the youth's academic achievements were excellent all the way, from the secondary school until the postgraduate research, never had a year when he did not score.
The director asked, "Did you obtain any scholarships in school?" the youth answered "none".
The director asked, " Was it your father who paid for your school fees?" The youth answered, "My father passed away when I was one year old, it was my mother who paid for my school fees.
The director asked, " Where did your mother work?" The youth answered, "My mother worked as clothes cleaner. The director requested the youth to show his hands. The youth showed a pair of hands that were smooth and perfect.
The director asked, " Have you ever helped your mother wash the clothes before?" The youth answered, "Never, my mother always wanted me to study and read more books. Furthermore, my mother can wash clothes faster than me.
The director said, "I have a request. When you go back today, go and clean your mother's hands, and then see me tomorrow morning.
The youth felt that his chance of landing the job was high. When he went back, he happily requested his mother to let him clean her hands. His mother felt strange, happy but with mixed feelings, she showed her hands to the kid.
The youth cleaned his mother's hands slowly. His tear fell as he did that. It was the first time he noticed that his mother's hands were so wrinkled, and there were so many bruises in her hands. Some bruises were so painful that his mother shivered when they were cleaned with water.
This was the first time the youth realized that it was this pair of hands that washed the clothes everyday to enable him to pay the school fee. The bruises in the mother's hands were the price that the mother had to pay for his graduation, academic excellence and his future.
After finishing the cleaning of his mother hands, the youth quietly washed all the remaining clothes for his mother.
That night, mother and son talked for a very long time.
Next morning, the youth went to the director's office.
The Director noticed the tears in the youth's eyes, asked: " Can you tell me what have you done and learned yesterday in your house?"
The youth answered, " I cleaned my mother's hand, and also finished cleaning all the remaining clothes'
The Director asked, " please tell me your feelings."
The youth said, Number 1, I know now what is appreciation. Without my mother, there would not the successful me today. Number 2, by working together and helping my mother, only I now realize how difficult and tough it is to get something done. Number 3, I have come to appreciate the importance and value of family relationship.
The director said, " This is what I am looking for to be my manager.
I want to recruit a person who can appreciate the help of others, a person who knows the sufferings of others to get things done, and a person who would not put money as his only goal in life. You are hired.
Later on, this young person worked very hard, and received the respect of his subordinates. Every employee worked diligently and as a team. The company's performance improved tremendously.
Conclusion:
A child, who has been protected and habitually given whatever he wanted, would develop "entitlement mentality" and would always put himself first. He would be ignorant of his parent's efforts. When he starts work, he assumes that every person must listen to him, and when he becomes a manager, he would never know the sufferings of his employees and would always blame others. For this kind of people, who may be good academically, may be successful for a while, but eventually would not feel sense of achievement.
He will grumble and be full of hatred and fight for more. If we are this kind of protective parents, are we really showing love or are we destroying the kid instead?*
You can let your kid live in a big house, eat a good meal, learn piano, watch a big screen TV. But when you are cutting grass, please let them experience it. After a meal, let them wash their plates and bowls together with their brothers and sisters. It is not because you do not have money to hire a maid, but it is because you want to love them in a right way. You want them to understand, no matter how rich their parents are, one day their hair will grow gray, same as the mother of that young person. The most important thing is your kid learns how to appreciate the effort and experience the difficulty and learns the ability to work with others to get things done.
My Comments:
Well, the writer has put onus on parents.I differ here a little bit.Why not the children don't understand it in time?
But the bottomline is, where you are, you have been standing on someone's shoulder .Someone has helped you.It can be mother, it can be father, it can be sister, it can be brother, it can be friend,it can be someone unknown( and that is I say, GOD) .
It is all someone who did somewhere for you in whatever little way and if one feels it then one need to be grateful for that.
I have seen people saying , I care for NONE.Well, that is fine but then no one cares for you as well.That other person has the same liberty not to care for you and if all people in the world starts thinking like that imagine how the world can be?
Well, I have seen successful people always having that feeling that they did it .They planned it.They are the architect of what they are now?But I ask again , is it true?
To me it is BIG NO.Why Warren Buffet and Bills Gates has to do the philanthropic work?Can anyone tell me ?They can say, why I should help someone?Who helped us?We did on our own?Why we have to help anyone?Let them do on their own?
But still they are helping others and that too not in their own country but in other countires like Ethopia, India and many more.
According to me, if your prosperity is just staying with you and is not percolating to first your relatives , then friends and then the society then becoming rich and sucessful makes no sense.
Life is just not ME.It is bigger then that.
I have seen people giving donations to bulid Hospitals.Donating for good cause.Are they MAD?Why are they doing this?They got the money wrong way and hence trying to make up for that?
No, they have understood that in LIFE, their success is GOD send.You are a GOD chosen child and hence you have to help others.
If someone wants to become an Actor can anyone do that?No....why?Why if someone wants to become an actor he/she can't?If anyone wants to become a singer, can he/she do it?NO.Why is it so?
Can there be many Lata Mangeshkar?Can there be many Moh Rafi?NO.Why is it so?
These talent comes from birth.You got it from your birth.In 1947, Geeta Roy( Dutt) was given 6 out of 9 songs of the Film named "Do Bhai".It was S D Burman who put so much of faith in that teenage girl.
Geeta Roy(Dutt) was just 17 at that time and she was not even a singer and the song, "Mera Sundar sapna beet gaya" became instant hit.She became an immidiate superstar in just few months and that happened when some great singers were already there like, Noorjahan , Suraiya, Shamshad Begum,Raj Kumari etc etc.Geeta Roy( Dutt) was an instant hit.She sang a song in Gujarati film as well in 1949.She was just 19 at that time and mindwell at that time she even didn't know Hindi properly actually not at all .She use to takes notes in her language( Bengali) and sing and still her pronounciation were excellent.Let us even try to pronounce a single line in other language then our mother tounge?Will we be able to do that?Then?This is a whole song and that too at the age of just 17, as that time she knew only one language and that is Bengali...and she sang "Mera Sundar Sapna Beet Gaya"! That is MAGIC.She created a MAGIC. A new different voice has arrived.She sang in Gujarati at a very tender age of 19.......Geeta Roy was par excellence.Her voice was one of a kind and no one can match it.
If one can hear her in Kagaz Ke Phool, "Waqt ne kiya kya haseen sitam tum rahe na tum hum rahe na hum....." only Geeta Dutt can bring that pain and agony in the voice.......or her mischivious voice in Mr and Mrs 55, "Thandi Hawa kali Ghata a hi gayi jhoom ke"..............Geeta Dutt was versatile.The only things that happened bad , according to me was, she sang only for Guru Dutt films and hence after marrying Guru Dutt, her songs were limited to just what her husband Guru Dutt will produce.She sang only for Guru Dutt and what she got for that?That is a different story to tell.....
The film in which she sang in Gujarati film was "Mangal Fera" where in Nirupa Roy, our favourite mother of Hindi Film acted as Heroine and if one hear the song of that Gujarati Film sung by Geeta Roy( Dutt) and A R Oza, Rakh na Ramakada, one will never believe that Geeta Roy( Dutt) was not knwoing the language.She was perfect in Gujarati pronounciation.
Geeta Roy married Guru Dutt and hence her last name changed from Roy to Dutt.
If someone wants to hear that SONG , one can write , Rakh na Ramakada , in YOU TUBE , and one will be able to hear it.And I would suggest to hear that song who understand or knows Gujarati.
Now that is talent.It is GOD Gift.
Can anyone do it if anyone wants to?NO.That was a GOD gift to Geeta Dutt.Her voice.
The charismatic smile of yesteryear super star Rajesh Khanna.Did Rajesh Khanna developed that smile?He got on his face.He got from GOD.In film Ind your face plays very important role and then comes the talent.We have seen many beautiful face becoming successful even though they have no acting talent.Now here someone is becoming successful only because he/she has got beautiful face, what we will tell it?Where he got this face?He himself got it?He developed it or he planned it ?No planning ,no hardlabour, nothing works when luck works and in film Ind , only luck works.Worst of the film made becomes a huge success and best of film get flopped.We have read that the best film critic said has flopped.Why that happens?
Have anyone ever heard the name of Uttam Singh?Scratching your head.He is the Music Dir of the film "Dil To Pagal Hai".The music was a super hit.Every songs were superhit and that's it.
After that Uttam Singh was never able to create that magic.What is that?Now no one remembers Uttam Singh.His work in Dil Top Pagal Hai.
Same O.P Nayyar who gave hit after hits from 1952,lost his touch and he himself took exile from Music around 1970.
Why someone lose a touch?It is a talent , how one can lose it.It was not so that he became wayward and hence that happened.No.
But the time was over.O.P.Nayar himself spoke in one music occassion on ZEE Tv that he was knowing that his time is now ending.What is that TIME?That is LUCK.That is Destiny.
Wednesday, November 24, 2010
Manganese Ore India Ltd...........IPO..Another Navratna on Sale.....
Friends,
I am not going to write all those that comes on different sites.
One can always read it there.
I would just wite here that after Coal India Ltd(CIL) this is another GEM coming out from our government and one should go all out for it and apply.............
Nothing more and nothing less.....
I am not going to write all those that comes on different sites.
One can always read it there.
I would just wite here that after Coal India Ltd(CIL) this is another GEM coming out from our government and one should go all out for it and apply.............
Nothing more and nothing less.....
Tuesday, November 23, 2010
MFIs similar to moneylenders, says Reddy ............
The man who protected India’s economy during the subprime crisis raises red flag, bats for stricter curbs on micro lenders Gayatri Nayak MUMBAI
YAGA Venugopal Reddy, former Reserve Bank of India governor credited with saving the nation’s financial system from the 2008 meltdown, has said what many finance experts believed, but did not have the courage to admit publicly: microfinance is India’s subprime. “Ultimately, it’s something like subprime lending,” Mr Reddy told ET in an interview ahead of his book release. “The same incentives are operating here... it was securitisation and derivatives that operated in the US. Here it is the priority sector lending by banks.”
Subprime lending refers to loans extended to people with poor repaying ability that ultimately led to defaults.
The 25,000-crore microfinance industry is facing tumultuous times ever since the biggest, SKS Microfinance, created a controversy two months ago by sacking chief executive Suresh Gurumani. There was a confluence of woes for the sector when the Andhra Pradesh government came up with legislation curbing their operations. Banks pulled back on lending as some of the institutions were behaving more like moneylenders and in some cases drove borrowers to suicide. INDIAN banks such as SBI, ICICI Bank and Axis Bank are estimated to have lent 16,000 crore to micro lenders. ICICI’s lending is at 2,000 crore, SBI’s at more than 1,000 crore and Sidbi’s at 4,000 crore, according to data from rating company Care.
The financial magnitude may not be the same with the Indian microfinance industry being tiny compared with the subprime lending crisis that led to more than a trillion dollars of losses and sank many venerable institutions. But there are similarities such as opaque practices, high salaries and commissions inducing unethical business, and leverage.
The current practices may create systemic problems too, unlike moneylenders who operate with their own money.
“If it is profit and if there is lending, aggressively, then it’s just moneylending,” said Mr Reddy, who was criticised before the credit crisis for his conservative approach to policymaking. “Also, if you look at it, the resource is leveraged, it’s not just moneylending business. The moneylender normally lends out his own money, whereas here the MFI is actually borrowing money from depositors and lending the money. So essentially, he is a moneylender, but a leveraged moneylender.”
Many admit to the fact that the industry has gone astray with the lure of superlative returns as private equity investors such as Sequoia Capital smelt an opportunity. But that did not mean that its role in financial inclusion could be discarded.
“Yes, I agree with Mr Reddy when he says a lot of perverse incentives got aligned,” said Vijay Mahajan, chairman of BASIX, a micro lender, and head of Microfinance Institutions Network. “Here perverse incentives got aligned like in the US and in two years the sector went from helping the poor to preying on the poor.”
These institutions are no more the not-for-profit ones as envisioned by Nobel Laureate Mohammed Yunus, so regulations are essential, says Reddy. Bangladesh-born Yunus had seen micro lending as a vehicle to lift people out of poverty rather than enhance returns of wealthy investors in private equity funds.
“The idea that MFIs should be treated like banks but given soft regulations is dangerous,” said Mr Reddy. “We had a somewhat similar experience with urban co-operative banks.”
(With inputs from Ruchira Roy in Mumbai)
My Comments:
Readers were asking about what can be fate of MFI's in the present circumstances when AP governmnet has put restrictions on MFI's?
I would like to write here that ,the trend is not good looking at now when it is seen that all types of tricks are used to get the money back which is resulting in sucide of borrowers.That is a very bad situation and this can hurt the MFI as a whole.
As Dr.Reddy rightly pointed put that the same intention what Nobel Luareate Mohamad Yunus was upto is not there.When there is profit , then it is money lending and when the practice to get the borrowed money is offensive which leads to sucides then one have to think on the rules and regulations and that will come eventually and that will hinder the profit margins of MFI's.
It is good that all these has come out before it became too late.
I would write that this will have negative effect on MFI Co's like Arman Finance, Capital Trust ,SKS Finance and other unlisted Cos which are thinking of coming out with IPO's.
YAGA Venugopal Reddy, former Reserve Bank of India governor credited with saving the nation’s financial system from the 2008 meltdown, has said what many finance experts believed, but did not have the courage to admit publicly: microfinance is India’s subprime. “Ultimately, it’s something like subprime lending,” Mr Reddy told ET in an interview ahead of his book release. “The same incentives are operating here... it was securitisation and derivatives that operated in the US. Here it is the priority sector lending by banks.”
Subprime lending refers to loans extended to people with poor repaying ability that ultimately led to defaults.
The 25,000-crore microfinance industry is facing tumultuous times ever since the biggest, SKS Microfinance, created a controversy two months ago by sacking chief executive Suresh Gurumani. There was a confluence of woes for the sector when the Andhra Pradesh government came up with legislation curbing their operations. Banks pulled back on lending as some of the institutions were behaving more like moneylenders and in some cases drove borrowers to suicide. INDIAN banks such as SBI, ICICI Bank and Axis Bank are estimated to have lent 16,000 crore to micro lenders. ICICI’s lending is at 2,000 crore, SBI’s at more than 1,000 crore and Sidbi’s at 4,000 crore, according to data from rating company Care.
The financial magnitude may not be the same with the Indian microfinance industry being tiny compared with the subprime lending crisis that led to more than a trillion dollars of losses and sank many venerable institutions. But there are similarities such as opaque practices, high salaries and commissions inducing unethical business, and leverage.
The current practices may create systemic problems too, unlike moneylenders who operate with their own money.
“If it is profit and if there is lending, aggressively, then it’s just moneylending,” said Mr Reddy, who was criticised before the credit crisis for his conservative approach to policymaking. “Also, if you look at it, the resource is leveraged, it’s not just moneylending business. The moneylender normally lends out his own money, whereas here the MFI is actually borrowing money from depositors and lending the money. So essentially, he is a moneylender, but a leveraged moneylender.”
Many admit to the fact that the industry has gone astray with the lure of superlative returns as private equity investors such as Sequoia Capital smelt an opportunity. But that did not mean that its role in financial inclusion could be discarded.
“Yes, I agree with Mr Reddy when he says a lot of perverse incentives got aligned,” said Vijay Mahajan, chairman of BASIX, a micro lender, and head of Microfinance Institutions Network. “Here perverse incentives got aligned like in the US and in two years the sector went from helping the poor to preying on the poor.”
These institutions are no more the not-for-profit ones as envisioned by Nobel Laureate Mohammed Yunus, so regulations are essential, says Reddy. Bangladesh-born Yunus had seen micro lending as a vehicle to lift people out of poverty rather than enhance returns of wealthy investors in private equity funds.
“The idea that MFIs should be treated like banks but given soft regulations is dangerous,” said Mr Reddy. “We had a somewhat similar experience with urban co-operative banks.”
(With inputs from Ruchira Roy in Mumbai)
My Comments:
Readers were asking about what can be fate of MFI's in the present circumstances when AP governmnet has put restrictions on MFI's?
I would like to write here that ,the trend is not good looking at now when it is seen that all types of tricks are used to get the money back which is resulting in sucide of borrowers.That is a very bad situation and this can hurt the MFI as a whole.
As Dr.Reddy rightly pointed put that the same intention what Nobel Luareate Mohamad Yunus was upto is not there.When there is profit , then it is money lending and when the practice to get the borrowed money is offensive which leads to sucides then one have to think on the rules and regulations and that will come eventually and that will hinder the profit margins of MFI's.
It is good that all these has come out before it became too late.
I would write that this will have negative effect on MFI Co's like Arman Finance, Capital Trust ,SKS Finance and other unlisted Cos which are thinking of coming out with IPO's.
Thursday, November 18, 2010
$462,00,00,00,000...that is $462 bn..! Mother of all black money figures...
ZEROING IN ON BLACK MONEY
$462000000000
India Drained Of 20 Lakh cr During 1948-2001: Study
Binoy Prabhakar NEW DELHI
IN A season of swindles, kickbacks and scams, here is some more on the mother of them all. Black money — the popular moniker given to the billions seeded by dirty deals and whisked away abroad from the taxman’s prying eyes — has received much attention in recent years.
The opposition never tires of screaming foul at the government. The government, for its part, is at pains to say it is doing all it can to track down the illegal stash.
Despite the cacophony, an estimate of the scads of black money in secret bank vaults overseas has long been one big unknown, resulting in a great deal of speculation and glib talk around the subject. Finally, some help is at hand.
A new study by an international watchdog on the illicit flight of money from the country, perhaps the first ever attempt at shedding light on a subject steeped in secrecy, concludes that India has been drained of $462 billion ( 20,556,848,000,000 or over 20 lakh crore) between 1948 and 2008. The amount is nearly 40% of India’s gross domestic product, and nearly 12 times the size of the estimated loss to the government because of the 2G spectrum scam. The study has been authored by Dev Kar, a lead economist with the US-based Global Financial Integrity, a non-profit research body that has long crusaded against illegal capital flight.
Mr Kar, a former senior economist with the International Monetary Fund, says illicit financial flows out of India have grown at 11.5% a year, debunking a popular notion that economic reforms that began nearly two decades ago had tempered the creation and stashing away of black money overseas.
Outflows accelerated after reforms
IF CAPITAL outflows were a child of the independence era, the problem came of age in the years after the reforms kicked in. Nearly 50% of the total illegal outflows occurred since 1991. Around a third of the money exited the country between 2000 and 2008.
“It shows that reforms seem to have accelerated the transfer of black money abroad,” says Mr Kar, whose study titled ‘The Drivers and Dynamics of Illicit Financial Flows from India: 1948-2008’ sifts through piles of data on the issue over a period of 61 years. The study, which Mr Kar says is the most comprehensive one yet on illicit financial flows from India, will be made public on Thursday.
His report comes amid a renewed government push in recent months to pursue black money stashed abroad. In late August, the government signed an agreement with Switzerland — its banks top a list of usual suspects — that will enable exchange of information on tax evaders. New Delhi is also in talks with at least 20 tax havens, particularly Mauritius, to extract similar information.
The government is also attempting to gain a measure of the total unaccounted money circulating in the economy. The finance ministry last week approached the National Institute of Public Finance and Policy to get a fix on such money.
But M Govinda Rao, director of the institute, says his think-tank is yet to decide on going ahead with the exercise because it is not an easy task. “A study on this subject is a huge challenge because one is dealing with a very big problem that covers hordes of money from many sectors,” he says.
Black money turned into an election issue during the 2009 general elections, with the BJP harping on the issue throughout its campaign. Its leader LK Advani has been the most vocal critic of the government on this issue, time and again questioning the government’s resolve to chase illegal funds. Mr Advani recently urged the government to publish a white paper on the issue.
While Mr Advani was unavailable for comment, the government’s detractors on this issue say there is more talk than action to address this issue.
“Everybody knows about the gravity of the problem, but the government has not shown the political will to bring the money back to India,” says Prakash Karat, general secretary of the Communist Party of India (Marxist).
The government has, however, received praise from Paris-based Organisation for Economic Cooperation and Development, which has been at the forefront of the fight against tax evasion. OECD, whose relentless offensive is largely credited with lifting the veil of secrecy over umpteen tax havens, hailed India’s efforts to crack down on tax evasion and sign information exchange agreements earlier this year.
These are but short-lived answers, say experts, adding that an overhaul in the global financial system is central to a lasting solution. New tax havens will spring forth when pressure mounts on existing ones.
That is not to say there are only a few tax havens out there. Indeed, at least 91 such hotspots flourish across the globe. Asian countries, particularly Thailand, Singapore, Hong Kong and Macau, too are emerging as new destinations for parking illicit funds.
Besides Switzerland and Mauritius, Indian money is also said to end up in Seychelles and Macau. Due to the illicit nature of these deposits, pinpointing the journey’s end of the bulk of India’s black money is tenuous at best.
The GFI study gives a measure of the amount of money that the government is chasing, but it is only a fraction of the $1.4 trillion that the BJP claims is the illegal stash.
GFI acknowledges as much, saying its figure is conservative and hasn’t taken into account smuggling and certain types of trade mischief. It also admits to gaps in available statistics, lamenting the lack of data on the consolidated fiscal balance with the government, which has hampered research. If these indicators were counted, India’s total illicit outflows would well be half a trillion dollars.
But Mr Kar says the $1.4 trillion figure was an “estimate”, while the numbers in the latest report are based on real data.
Still, GFI says that by no stretch of imagination is its calculation insignificant, more so when viewed against the country’s existing external debt at nearly $230 billion.
“It means India could not only have contracted less debt or even paid it off, but another half would also have been left over for poverty alleviation and economic development,” says Mr Kar. “There is no question that this huge loss of capital has set India back in its struggle to eradicate poverty and illiteracy.”
The study has based its findings on the World Bank Residual Model that tracks illicit outflows by measuring the disparity in a country’s recorded source and use of funds. It also delves into IMF’s ‘trade-mispricing’ model that compares a country’s recorded imports to what the world says it exported to the country as well as the recorded exports against its global imports. The gaps tell the story.
The perpetrators of illicit outflows, says the study, are wealthy individuals and private companies. Black money is also abetted by the existence of an ’underground’ economy that emerged out of illegal activities and assets spawned by such activities.
The unabated growth of slush funds is borne out of a growing affinity of culprits for offshore financial centres, or tax havens, at the expense of banks in developed countries such as the US, France and the United Kingdom. The study finds that the share of deposits in offshore tax havens grew to 54.2% in 2009 from 36.4% in 1995.
The study is as much an indictment of feckless government action as it is about shedding a light on the nature of illicit financial flows. “The sharp rise in illicit flows means that tax evasion (which is part and parcel of such flows) is also increasing sharply,” says Mr Kar.
“In the absence of good governance and poor institutional oversight, the desire for the hidden accumulation of wealth drives more of such transfers,” he adds.
Though India cannot end its black money problem alone, there are challenges it must address by itself, says the study. Legal institutions and procedures need to be strengthened and streamlined. The guilty should be punished --the architects of the Commonwealth Games scam, for example -- swiftly. And tax policies must be rationalised.
“Sure, black money is there in most countries but if it worsens poverty, robs human rights and drives centrifugal forces such as naxals, it becomes a problem that can no longer be ignored,” says Mr Kar.
And this is another Clip:A Raja still allotting Spectrum overruling Ministry Decision! What an aduacity!And Congress is unable to deal with anything!.........making money doing nothing at its BEST........Madhu Koda( 900 cr CASH in Bank), Sharad Power ( Sugarcane scam)and now A Raja....
ON TROUBLED WAVES
Raja’s kingdom of spectrum ran till his last days
Ex-Minister Tried To Allot Airwaves To 3 Telcos, Overruling Ministry Decision ( Uski himmant dekho, see his courage.....he is not at all bothered of anything......)
Joji Thomas Philip & Rohini Singh NEW DELHI
IN THE midst of the 2G spectrum controversy, and just days before his resignation, the telecom ministry (DoT) under A Raja was pushing for the allocation of airwaves to three companies — Tata Teleservices, Uninor and Videocon—in Delhi, overruling its own decision of not issuing fresh 2G spectrum until a new allocation methodology was finalised.
The move to allot spectrum to these companies also contradicted sector regulator Trai’s recommendation that airwaves be given first to existing operators in a circle, and companies that don’t have operations in a city should be the last in the queue for getting spectrum. Trai’s recommendations were endorsed by DoT’s legal wing as late as last month.
But documents accessed by ET show that on November 10, the telecom department was pushing for awarding airwaves to Tata Teleservices, Uninor and Videocon. “Since defence has released 8 MHz of spectrum recently ..., we may allot initial 4.4 MHz to Tata Teleservices in Delhi… Since total available spectrum is 11.6 MHz in this service area, including already available spectrum of 3.6 MHz, we may consider allotment of 4.4 MHz to Datacom (Videocon) and balance 2.8 MHz to Uninor, subject to acceptance of the same by Uninor,” the telecom department’s assistant wireless advisor said in an internal note endorsed by top ministry officials on November 10.
Uninor and Videocon were among the new companies that were controversially granted mobile permits by Mr Raja in 2008. Tata Teleservices is awaiting GSM airwaves in Delhi and many other circles. The telecom department had so far been unable to award start-up GSM airwaves in Delhi, the most lucrative circle in the country, to these three companies as it had exhausted all spectrum in the National Capital Region. Following the recent vacation of airwaves by the armed forces, the government now has about 11.6 MHz to allot in Delhi, but existing operators such as Reliance Communications, Bharti, Vodafone Essar and Idea have first preference over this resource, as per Trai recommendations. The government is yet to take a call on Trai’s recommendations, as the empowered group of ministers headed by finance minister Pranab Mukherjee has not met on this issue. In June, the Prime Minister’s Office had asked the telecom ministry to refer all issues related to Trai’s proposals, including the methodology for addition of 2G airwaves, to the EGoM.
DoT’s earlier attempt failed
THIS is not the first time the telecom department has tried to allot spectrum to new entrants, despite the freeze on spectrum allocation. In September, DoT had sought to place new entrants such as Tata DoCoMo and Uninor, which are yet to receive start-up airwaves in many circles, first in queue for airwaves, but the move failed since the department’s own legal advisor refused to endorse it.
Mr Raja, who was at the centre of the 2G spectrum allocation scam, resigned on Sunday night. On Tuesday, India’s chief auditor, in its report tabled in Parliament, said Mr Raja flouted almost every rule in the book, ignored advice from the prime minister down and indulged in blatant favouritism while awarding mobile licences to mostly undeserving companies, causing a loss of nearly 1,77,000 crore to the government.
My Comments:
Now what is the meaning of this?$462 bn! That is HUGE Amt and I just read in ET that A Raja still went on as seen in today ET which I have pasted here........
WHAT THESE POLITICIANS ARE GOING TO DO WITH THE COUNTRY? WILL SOMEONE ASK THEM?........YE SAB KAHAN TAK JAYEGA?....WILL THERE BE ANY END TO THIS OR NOT?
These money are need to go to the POOR people of India.These are their money.These money needs to be used for electricity and water and canals in distant villages where there is no electricy and no water for miles togather.Woman has to go to 4-5 miles OR EVEN MORE to fill a pot of water on head and come back to home and then cook something.
These are the money that are to be used for poor people residing in rural part and very interior part of India where the India growth story has not reached.In the remote area people are starving without FOOD and dying and these politicians are having field day.
CBI needs to check all a/c of their friends , relatives of all politicians.The questions still arises how much INDIA can depend on CBI as well?
What is the meaning of helps and grants we get from the Philanthropic Institution like Bill Gates?Bill Gates need to tell INDIA that untill INDIA don't bring down corruption there can be no HELP FOR POOR IN INDIA.
WHAT A SHAME FOR INDIA!
FOR EVERYGROWTH OF INDIA THERE WILL COME MORE AND MORE OPPORTUNITY FOR POLITICIANS TO MAKE MONEY FOR GIVING LICENCES FOR VARIOUS PROJECTS ETC.......
$462000000000
India Drained Of 20 Lakh cr During 1948-2001: Study
Binoy Prabhakar NEW DELHI
IN A season of swindles, kickbacks and scams, here is some more on the mother of them all. Black money — the popular moniker given to the billions seeded by dirty deals and whisked away abroad from the taxman’s prying eyes — has received much attention in recent years.
The opposition never tires of screaming foul at the government. The government, for its part, is at pains to say it is doing all it can to track down the illegal stash.
Despite the cacophony, an estimate of the scads of black money in secret bank vaults overseas has long been one big unknown, resulting in a great deal of speculation and glib talk around the subject. Finally, some help is at hand.
A new study by an international watchdog on the illicit flight of money from the country, perhaps the first ever attempt at shedding light on a subject steeped in secrecy, concludes that India has been drained of $462 billion ( 20,556,848,000,000 or over 20 lakh crore) between 1948 and 2008. The amount is nearly 40% of India’s gross domestic product, and nearly 12 times the size of the estimated loss to the government because of the 2G spectrum scam. The study has been authored by Dev Kar, a lead economist with the US-based Global Financial Integrity, a non-profit research body that has long crusaded against illegal capital flight.
Mr Kar, a former senior economist with the International Monetary Fund, says illicit financial flows out of India have grown at 11.5% a year, debunking a popular notion that economic reforms that began nearly two decades ago had tempered the creation and stashing away of black money overseas.
Outflows accelerated after reforms
IF CAPITAL outflows were a child of the independence era, the problem came of age in the years after the reforms kicked in. Nearly 50% of the total illegal outflows occurred since 1991. Around a third of the money exited the country between 2000 and 2008.
“It shows that reforms seem to have accelerated the transfer of black money abroad,” says Mr Kar, whose study titled ‘The Drivers and Dynamics of Illicit Financial Flows from India: 1948-2008’ sifts through piles of data on the issue over a period of 61 years. The study, which Mr Kar says is the most comprehensive one yet on illicit financial flows from India, will be made public on Thursday.
His report comes amid a renewed government push in recent months to pursue black money stashed abroad. In late August, the government signed an agreement with Switzerland — its banks top a list of usual suspects — that will enable exchange of information on tax evaders. New Delhi is also in talks with at least 20 tax havens, particularly Mauritius, to extract similar information.
The government is also attempting to gain a measure of the total unaccounted money circulating in the economy. The finance ministry last week approached the National Institute of Public Finance and Policy to get a fix on such money.
But M Govinda Rao, director of the institute, says his think-tank is yet to decide on going ahead with the exercise because it is not an easy task. “A study on this subject is a huge challenge because one is dealing with a very big problem that covers hordes of money from many sectors,” he says.
Black money turned into an election issue during the 2009 general elections, with the BJP harping on the issue throughout its campaign. Its leader LK Advani has been the most vocal critic of the government on this issue, time and again questioning the government’s resolve to chase illegal funds. Mr Advani recently urged the government to publish a white paper on the issue.
While Mr Advani was unavailable for comment, the government’s detractors on this issue say there is more talk than action to address this issue.
“Everybody knows about the gravity of the problem, but the government has not shown the political will to bring the money back to India,” says Prakash Karat, general secretary of the Communist Party of India (Marxist).
The government has, however, received praise from Paris-based Organisation for Economic Cooperation and Development, which has been at the forefront of the fight against tax evasion. OECD, whose relentless offensive is largely credited with lifting the veil of secrecy over umpteen tax havens, hailed India’s efforts to crack down on tax evasion and sign information exchange agreements earlier this year.
These are but short-lived answers, say experts, adding that an overhaul in the global financial system is central to a lasting solution. New tax havens will spring forth when pressure mounts on existing ones.
That is not to say there are only a few tax havens out there. Indeed, at least 91 such hotspots flourish across the globe. Asian countries, particularly Thailand, Singapore, Hong Kong and Macau, too are emerging as new destinations for parking illicit funds.
Besides Switzerland and Mauritius, Indian money is also said to end up in Seychelles and Macau. Due to the illicit nature of these deposits, pinpointing the journey’s end of the bulk of India’s black money is tenuous at best.
The GFI study gives a measure of the amount of money that the government is chasing, but it is only a fraction of the $1.4 trillion that the BJP claims is the illegal stash.
GFI acknowledges as much, saying its figure is conservative and hasn’t taken into account smuggling and certain types of trade mischief. It also admits to gaps in available statistics, lamenting the lack of data on the consolidated fiscal balance with the government, which has hampered research. If these indicators were counted, India’s total illicit outflows would well be half a trillion dollars.
But Mr Kar says the $1.4 trillion figure was an “estimate”, while the numbers in the latest report are based on real data.
Still, GFI says that by no stretch of imagination is its calculation insignificant, more so when viewed against the country’s existing external debt at nearly $230 billion.
“It means India could not only have contracted less debt or even paid it off, but another half would also have been left over for poverty alleviation and economic development,” says Mr Kar. “There is no question that this huge loss of capital has set India back in its struggle to eradicate poverty and illiteracy.”
The study has based its findings on the World Bank Residual Model that tracks illicit outflows by measuring the disparity in a country’s recorded source and use of funds. It also delves into IMF’s ‘trade-mispricing’ model that compares a country’s recorded imports to what the world says it exported to the country as well as the recorded exports against its global imports. The gaps tell the story.
The perpetrators of illicit outflows, says the study, are wealthy individuals and private companies. Black money is also abetted by the existence of an ’underground’ economy that emerged out of illegal activities and assets spawned by such activities.
The unabated growth of slush funds is borne out of a growing affinity of culprits for offshore financial centres, or tax havens, at the expense of banks in developed countries such as the US, France and the United Kingdom. The study finds that the share of deposits in offshore tax havens grew to 54.2% in 2009 from 36.4% in 1995.
The study is as much an indictment of feckless government action as it is about shedding a light on the nature of illicit financial flows. “The sharp rise in illicit flows means that tax evasion (which is part and parcel of such flows) is also increasing sharply,” says Mr Kar.
“In the absence of good governance and poor institutional oversight, the desire for the hidden accumulation of wealth drives more of such transfers,” he adds.
Though India cannot end its black money problem alone, there are challenges it must address by itself, says the study. Legal institutions and procedures need to be strengthened and streamlined. The guilty should be punished --the architects of the Commonwealth Games scam, for example -- swiftly. And tax policies must be rationalised.
“Sure, black money is there in most countries but if it worsens poverty, robs human rights and drives centrifugal forces such as naxals, it becomes a problem that can no longer be ignored,” says Mr Kar.
And this is another Clip:A Raja still allotting Spectrum overruling Ministry Decision! What an aduacity!And Congress is unable to deal with anything!.........making money doing nothing at its BEST........Madhu Koda( 900 cr CASH in Bank), Sharad Power ( Sugarcane scam)and now A Raja....
ON TROUBLED WAVES
Raja’s kingdom of spectrum ran till his last days
Ex-Minister Tried To Allot Airwaves To 3 Telcos, Overruling Ministry Decision ( Uski himmant dekho, see his courage.....he is not at all bothered of anything......)
Joji Thomas Philip & Rohini Singh NEW DELHI
IN THE midst of the 2G spectrum controversy, and just days before his resignation, the telecom ministry (DoT) under A Raja was pushing for the allocation of airwaves to three companies — Tata Teleservices, Uninor and Videocon—in Delhi, overruling its own decision of not issuing fresh 2G spectrum until a new allocation methodology was finalised.
The move to allot spectrum to these companies also contradicted sector regulator Trai’s recommendation that airwaves be given first to existing operators in a circle, and companies that don’t have operations in a city should be the last in the queue for getting spectrum. Trai’s recommendations were endorsed by DoT’s legal wing as late as last month.
But documents accessed by ET show that on November 10, the telecom department was pushing for awarding airwaves to Tata Teleservices, Uninor and Videocon. “Since defence has released 8 MHz of spectrum recently ..., we may allot initial 4.4 MHz to Tata Teleservices in Delhi… Since total available spectrum is 11.6 MHz in this service area, including already available spectrum of 3.6 MHz, we may consider allotment of 4.4 MHz to Datacom (Videocon) and balance 2.8 MHz to Uninor, subject to acceptance of the same by Uninor,” the telecom department’s assistant wireless advisor said in an internal note endorsed by top ministry officials on November 10.
Uninor and Videocon were among the new companies that were controversially granted mobile permits by Mr Raja in 2008. Tata Teleservices is awaiting GSM airwaves in Delhi and many other circles. The telecom department had so far been unable to award start-up GSM airwaves in Delhi, the most lucrative circle in the country, to these three companies as it had exhausted all spectrum in the National Capital Region. Following the recent vacation of airwaves by the armed forces, the government now has about 11.6 MHz to allot in Delhi, but existing operators such as Reliance Communications, Bharti, Vodafone Essar and Idea have first preference over this resource, as per Trai recommendations. The government is yet to take a call on Trai’s recommendations, as the empowered group of ministers headed by finance minister Pranab Mukherjee has not met on this issue. In June, the Prime Minister’s Office had asked the telecom ministry to refer all issues related to Trai’s proposals, including the methodology for addition of 2G airwaves, to the EGoM.
DoT’s earlier attempt failed
THIS is not the first time the telecom department has tried to allot spectrum to new entrants, despite the freeze on spectrum allocation. In September, DoT had sought to place new entrants such as Tata DoCoMo and Uninor, which are yet to receive start-up airwaves in many circles, first in queue for airwaves, but the move failed since the department’s own legal advisor refused to endorse it.
Mr Raja, who was at the centre of the 2G spectrum allocation scam, resigned on Sunday night. On Tuesday, India’s chief auditor, in its report tabled in Parliament, said Mr Raja flouted almost every rule in the book, ignored advice from the prime minister down and indulged in blatant favouritism while awarding mobile licences to mostly undeserving companies, causing a loss of nearly 1,77,000 crore to the government.
My Comments:
Now what is the meaning of this?$462 bn! That is HUGE Amt and I just read in ET that A Raja still went on as seen in today ET which I have pasted here........
WHAT THESE POLITICIANS ARE GOING TO DO WITH THE COUNTRY? WILL SOMEONE ASK THEM?........YE SAB KAHAN TAK JAYEGA?....WILL THERE BE ANY END TO THIS OR NOT?
These money are need to go to the POOR people of India.These are their money.These money needs to be used for electricity and water and canals in distant villages where there is no electricy and no water for miles togather.Woman has to go to 4-5 miles OR EVEN MORE to fill a pot of water on head and come back to home and then cook something.
These are the money that are to be used for poor people residing in rural part and very interior part of India where the India growth story has not reached.In the remote area people are starving without FOOD and dying and these politicians are having field day.
CBI needs to check all a/c of their friends , relatives of all politicians.The questions still arises how much INDIA can depend on CBI as well?
What is the meaning of helps and grants we get from the Philanthropic Institution like Bill Gates?Bill Gates need to tell INDIA that untill INDIA don't bring down corruption there can be no HELP FOR POOR IN INDIA.
WHAT A SHAME FOR INDIA!
FOR EVERYGROWTH OF INDIA THERE WILL COME MORE AND MORE OPPORTUNITY FOR POLITICIANS TO MAKE MONEY FOR GIVING LICENCES FOR VARIOUS PROJECTS ETC.......
Tuesday, November 16, 2010
We aren't still ready?PE investors? Are u listening?
Taken from today's ET.
WIDE ANGLE
Hunger for new ideas, impatience is still missing
By ANIL GUPTA PROFESSOR, IIM AHMEDABAD
A GREAT deal is said about the strengthening of innovation ecosystem in the country but somehow I still find the hunger for new ideas, the impatience with inertia and a desire to make an imperfect beginning missing. I find really innovative pioneers still suffering neglect and sometimes even contempt. But then the situation is not completely gloomy, some signs of hope are visible. But the alarm bells first.
Having been involved with innovators in informal and formal sector, primarily individuals but also companies, I have realised that great damage is sometimes done by paradoxically lowering the bar, reducing the expectations and being too critical at the same time to promising new ideas. If you wish to have a meeting with a colleague and discuss the issues across the table using a laptop, what options do you have, if you don’t have a projector. Sitting on same side of the screen and looking sideways, bending your neck and later getting it (neck, not the screen!) massaged for all the pain.
1)But Dr Janardan Reddy, a cardiac surgeon who had done more than ten thousand surgeries and has invented a double-sided screen displayed at several innovation meetings including that of Computers Society of India along with Mr Narayanan, a bio-engineer in Chennai, would not get a small support of Rs 45 lakh or a crore, not withstanding the self-proclaimed tribe of angel investors or public programmes meant to serve such individual professional innovators. ( There is no 45 lacs or 1 cr for this one?, PITY, Rakesh Jhunjhunwala , are you reading this? )
2)Abhijit, a former army officer, analysed thousands of pages of digital text in Indian languages and calculated statistical probability of which letter is likely to come after which other letter while typing. He devised a wonderful Indian language light software which does not need a dictionary to ease the typing on mobile is still awaiting funding to scale up his dream.
What is his aspiration? That all mobiles operators and manufactures must enable typing in Indian languages obligatory in various handsets. One would expect that the community of scholars, industrialists and policymakers would jump at such an idea, take it up for rigorous testing and mobilise support for him right away. But no, when I posted it on a list having who’s who of the IT industry involved with this subject, not one colleague responded even with a sceptic remark. What does such silence imply?
3)Another young innovator, Hemanth from Bangalore has developed a software which goes a few steps beyond YouTube and can search in videos, by converting speech or slides into OCRtext and then searching in those words. Doordarshan, IGNOU and many other private and public agencies should jump at it. Sristi will be using it to analyse the videos of village walk, shodh yatras covering more than 4,000 km of distance over last decade and more as a part of Honey Bee network engagement with grassroots creativity. But he is still struggling.
Why don’t we develop a system which responds with alacrity, empathy and genuine desire to produce global and national signatures? Tell me, I must be naive, is not it? Why are weeding out the really creative voices?
My Comments:
My view again come to the fore that we do not supprot innovation.Legpulling is our ideaology.....
WIDE ANGLE
Hunger for new ideas, impatience is still missing
By ANIL GUPTA PROFESSOR, IIM AHMEDABAD
A GREAT deal is said about the strengthening of innovation ecosystem in the country but somehow I still find the hunger for new ideas, the impatience with inertia and a desire to make an imperfect beginning missing. I find really innovative pioneers still suffering neglect and sometimes even contempt. But then the situation is not completely gloomy, some signs of hope are visible. But the alarm bells first.
Having been involved with innovators in informal and formal sector, primarily individuals but also companies, I have realised that great damage is sometimes done by paradoxically lowering the bar, reducing the expectations and being too critical at the same time to promising new ideas. If you wish to have a meeting with a colleague and discuss the issues across the table using a laptop, what options do you have, if you don’t have a projector. Sitting on same side of the screen and looking sideways, bending your neck and later getting it (neck, not the screen!) massaged for all the pain.
1)But Dr Janardan Reddy, a cardiac surgeon who had done more than ten thousand surgeries and has invented a double-sided screen displayed at several innovation meetings including that of Computers Society of India along with Mr Narayanan, a bio-engineer in Chennai, would not get a small support of Rs 45 lakh or a crore, not withstanding the self-proclaimed tribe of angel investors or public programmes meant to serve such individual professional innovators. ( There is no 45 lacs or 1 cr for this one?, PITY, Rakesh Jhunjhunwala , are you reading this? )
2)Abhijit, a former army officer, analysed thousands of pages of digital text in Indian languages and calculated statistical probability of which letter is likely to come after which other letter while typing. He devised a wonderful Indian language light software which does not need a dictionary to ease the typing on mobile is still awaiting funding to scale up his dream.
What is his aspiration? That all mobiles operators and manufactures must enable typing in Indian languages obligatory in various handsets. One would expect that the community of scholars, industrialists and policymakers would jump at such an idea, take it up for rigorous testing and mobilise support for him right away. But no, when I posted it on a list having who’s who of the IT industry involved with this subject, not one colleague responded even with a sceptic remark. What does such silence imply?
3)Another young innovator, Hemanth from Bangalore has developed a software which goes a few steps beyond YouTube and can search in videos, by converting speech or slides into OCRtext and then searching in those words. Doordarshan, IGNOU and many other private and public agencies should jump at it. Sristi will be using it to analyse the videos of village walk, shodh yatras covering more than 4,000 km of distance over last decade and more as a part of Honey Bee network engagement with grassroots creativity. But he is still struggling.
Why don’t we develop a system which responds with alacrity, empathy and genuine desire to produce global and national signatures? Tell me, I must be naive, is not it? Why are weeding out the really creative voices?
My Comments:
My view again come to the fore that we do not supprot innovation.Legpulling is our ideaology.....
What to say here!
Graft grounded Tatas’return to skies
Ratan Was Uncomfortable With ‘Bribing’ Minister
Our Bureau & Agencies MUMBAI
THE main reason why the Tata group failed to start a private airline about 15 years ago surfaced on Monday when chairman Ratan Tata said a bribe demand had scuttled the venture.
Speaking at a function in Dehra Dun on Monday, Mr Tata said he didn’t re-enter the airline business, which was to be in a joint venture with Singapore Airlines, as he was not comfortable with the idea of bribing 15 crore to a minister.
“We approached three prime ministers also. But an individual thwarted our efforts to form the airline,” Mr Tata said, recalling how he spurned the suggestion. “A fellow industrialist had said: ‘You are stupid people. The minister was asking for 15 crore. Why didn’t you pay the money?“
CM Ibrahim was the aviation minister in 1996, when the Tatas had initiated plans to re-enter aviation. Mr Tata’s predecessor, JRD Tata, had set up the first commercial airline in India, called ‘Tata Airlines’, in the 1930s, which was taken over by the government in the 1950s and renamed Air India.
Ibrahim clears the air, says won’t file defamation case
THE Tata group’s difficulties with Mr Ibrahim are well known, but none of the protagonists has spoken about the matter in public.
India allows foreign investors such as private equity funds to own 49% of a domestic aviation company, but investment by foreign carriers is banned, a rule many consider bizarre. The ban was introduced in the mid-1990s.
Though the events Mr Tata was describing occurred many years ago, the remarks created a minor media frenzy when television channels — which have been gorging themselves on the alleged misdeeds of former telecom minister A Raja — started ‘flashing’ the news.
A key minister in Deve Gowda’s government, Mr Ibrahim responded to Mr Tata’s allegation by saying he had stopped the Tata project as it would have resulted in a loss to the government.
“It would have meant gifting away 4,000 acres of government land to the Tatas at a low rate,” Mr Ibrahim told television channel TIMES NOW. His remarks appeared not to be directly related to the aborted airline. Instead, he was talking about an alleged offer by the Tatas to build a new airport in Bangalore.
The Tatas had supposedly wanted to build the airport under the build-operate-own model while Mr Ibrahim says he preferred an alternative method known as build-operate-transfer. In the second case, the airport’s ownership eventually reverts to the government.
In other interviews, Mr Ibrahim attributed his blocking of the Tatas’ aviation plans to the presence of Singapore Airlines. Coming from a family of freedom fighters, he wanted to keep foreigners away from the aviation sector, he said.
\Mr Ibrahim also clarified that he was not filing defamation charges as Mr Tata had not named him as the bribe-seeker.
In a statement issued on Monday evening, an external corporate communications agency representing the Tata group clarified that Mr Tata was merely recounting a conversation with another industrialist. The 72-year-old head of the Tata group was not describing an actual episode and was not accusing anyone of asking for a bribe, it added.
“Mr Tata in no way was in agreement to the fact that he was asked for a bribe by any minister,” the a statement said. The figure of 15 crore was the personal opinion of the industrialist whom Mr Tata did not name.
The much-publicised alliance with Singapore Airlines to form a private airline from a group that had given India its first aviation company suffered a setback when the Tatas walked away from the deal citing long delays.
The Tata decision had raised questions then, with many senior group executives offering varying reasons for the aborted venture.
Jet Airways, one of India’s top private sector airlines, has long opposed investment by foreign airlines in the aviation sector. Two Gulfbased airlines once held 40% of Jet’s equity, but had to divest their stake after the government banned FDI by overseas carriers. Mr Ibrahim, nor anyone from Jet, has ever been investigated or charged in relation to the failed Tata bid to enter aviation.
Responding to questions about how he succeeded without compromising ethics and values after delivering a lecture on ‘India in 21st Century: Opportunities and Challenges’, Mr Tata said: “I did not want to go to bed knowing well that I set up an airlines by paying Rs 15 crore.”
After taking over control of the group, Mr Tata had tried thrice to enter aviation, but in vain. The group approached the government in 1995, 1997 and in 2001, but could not get an approval.
In 2001, the BJP government was in power when the Tatas and Singapore Airlines withdrew as sole bidders for their joint bid for Air India, the state-run airline, citing political opposition. Earlier in 1995, and subsequently in 2000, the consortium had made concerted efforts to take a stake in Air India, but the controversies surrounding the disinvestment process and unions’ opposition prevented the process.
My Comments:
What to say here! A very very reputed business gr like Tata is taken for ride then what to say about the beurocracy?Tata tried in 1995,1997 and 2001 and they were not suceesful.That is the irony of India.
Tata is a gr who always thinks ahead of others and that we can see here that Ratan Tata tried 3 times but FAILED.
I had always felt that it is the business-man who are making us proud with the Cos like Infosys, Wipro,Ril Ind,TCS, Tisco, Tata Motors , Sterlite Ind and many more .............
With all these type of bottlenecks they have made inroads and chattered their own path of success and Kudos to them for doing it with all the constrainst which keeps on coming moving up.
Many must have given bribe and many must have done without doing it but they kept flag flying of India in Internatioanl arena and these business-man needs all accolades for that.
Can anyone think, with such a poor political background we can prosper what we have been?No way! All credit goes to Industrialist doing their job even after all drawbacks.
Just imagine, if we want a simple copy of documents(7-A and 8-12) of a house or land and we go to the talati's office then wehave to give few hundreds rupees to talati otherwise he will say he has no time and he will have to look at records which are very old and will take time and once you give few hundreds rupees you get it immidiately.
I have seen and heard that even the name of the holder gets changed if we bribe someone and the house or land or property names gets changed............
If Mukesh Ambani has built the biggest and most expensive house in Mumbai, he still derserve it as he gives employment and earn billions of dollar of exchequer for the country.But what these politicians gives to country?They just take bribes and makes money while doing nothing.
I have already written on Madhu Koda and Sharad Power case and now A Raja case has come up which IT people says government has lost Rs 1,76,000 cr in revenue!
That is HUGE...........
Ratan Was Uncomfortable With ‘Bribing’ Minister
Our Bureau & Agencies MUMBAI
THE main reason why the Tata group failed to start a private airline about 15 years ago surfaced on Monday when chairman Ratan Tata said a bribe demand had scuttled the venture.
Speaking at a function in Dehra Dun on Monday, Mr Tata said he didn’t re-enter the airline business, which was to be in a joint venture with Singapore Airlines, as he was not comfortable with the idea of bribing 15 crore to a minister.
“We approached three prime ministers also. But an individual thwarted our efforts to form the airline,” Mr Tata said, recalling how he spurned the suggestion. “A fellow industrialist had said: ‘You are stupid people. The minister was asking for 15 crore. Why didn’t you pay the money?“
CM Ibrahim was the aviation minister in 1996, when the Tatas had initiated plans to re-enter aviation. Mr Tata’s predecessor, JRD Tata, had set up the first commercial airline in India, called ‘Tata Airlines’, in the 1930s, which was taken over by the government in the 1950s and renamed Air India.
Ibrahim clears the air, says won’t file defamation case
THE Tata group’s difficulties with Mr Ibrahim are well known, but none of the protagonists has spoken about the matter in public.
India allows foreign investors such as private equity funds to own 49% of a domestic aviation company, but investment by foreign carriers is banned, a rule many consider bizarre. The ban was introduced in the mid-1990s.
Though the events Mr Tata was describing occurred many years ago, the remarks created a minor media frenzy when television channels — which have been gorging themselves on the alleged misdeeds of former telecom minister A Raja — started ‘flashing’ the news.
A key minister in Deve Gowda’s government, Mr Ibrahim responded to Mr Tata’s allegation by saying he had stopped the Tata project as it would have resulted in a loss to the government.
“It would have meant gifting away 4,000 acres of government land to the Tatas at a low rate,” Mr Ibrahim told television channel TIMES NOW. His remarks appeared not to be directly related to the aborted airline. Instead, he was talking about an alleged offer by the Tatas to build a new airport in Bangalore.
The Tatas had supposedly wanted to build the airport under the build-operate-own model while Mr Ibrahim says he preferred an alternative method known as build-operate-transfer. In the second case, the airport’s ownership eventually reverts to the government.
In other interviews, Mr Ibrahim attributed his blocking of the Tatas’ aviation plans to the presence of Singapore Airlines. Coming from a family of freedom fighters, he wanted to keep foreigners away from the aviation sector, he said.
\Mr Ibrahim also clarified that he was not filing defamation charges as Mr Tata had not named him as the bribe-seeker.
In a statement issued on Monday evening, an external corporate communications agency representing the Tata group clarified that Mr Tata was merely recounting a conversation with another industrialist. The 72-year-old head of the Tata group was not describing an actual episode and was not accusing anyone of asking for a bribe, it added.
“Mr Tata in no way was in agreement to the fact that he was asked for a bribe by any minister,” the a statement said. The figure of 15 crore was the personal opinion of the industrialist whom Mr Tata did not name.
The much-publicised alliance with Singapore Airlines to form a private airline from a group that had given India its first aviation company suffered a setback when the Tatas walked away from the deal citing long delays.
The Tata decision had raised questions then, with many senior group executives offering varying reasons for the aborted venture.
Jet Airways, one of India’s top private sector airlines, has long opposed investment by foreign airlines in the aviation sector. Two Gulfbased airlines once held 40% of Jet’s equity, but had to divest their stake after the government banned FDI by overseas carriers. Mr Ibrahim, nor anyone from Jet, has ever been investigated or charged in relation to the failed Tata bid to enter aviation.
Responding to questions about how he succeeded without compromising ethics and values after delivering a lecture on ‘India in 21st Century: Opportunities and Challenges’, Mr Tata said: “I did not want to go to bed knowing well that I set up an airlines by paying Rs 15 crore.”
After taking over control of the group, Mr Tata had tried thrice to enter aviation, but in vain. The group approached the government in 1995, 1997 and in 2001, but could not get an approval.
In 2001, the BJP government was in power when the Tatas and Singapore Airlines withdrew as sole bidders for their joint bid for Air India, the state-run airline, citing political opposition. Earlier in 1995, and subsequently in 2000, the consortium had made concerted efforts to take a stake in Air India, but the controversies surrounding the disinvestment process and unions’ opposition prevented the process.
My Comments:
What to say here! A very very reputed business gr like Tata is taken for ride then what to say about the beurocracy?Tata tried in 1995,1997 and 2001 and they were not suceesful.That is the irony of India.
Tata is a gr who always thinks ahead of others and that we can see here that Ratan Tata tried 3 times but FAILED.
I had always felt that it is the business-man who are making us proud with the Cos like Infosys, Wipro,Ril Ind,TCS, Tisco, Tata Motors , Sterlite Ind and many more .............
With all these type of bottlenecks they have made inroads and chattered their own path of success and Kudos to them for doing it with all the constrainst which keeps on coming moving up.
Many must have given bribe and many must have done without doing it but they kept flag flying of India in Internatioanl arena and these business-man needs all accolades for that.
Can anyone think, with such a poor political background we can prosper what we have been?No way! All credit goes to Industrialist doing their job even after all drawbacks.
Just imagine, if we want a simple copy of documents(7-A and 8-12) of a house or land and we go to the talati's office then wehave to give few hundreds rupees to talati otherwise he will say he has no time and he will have to look at records which are very old and will take time and once you give few hundreds rupees you get it immidiately.
I have seen and heard that even the name of the holder gets changed if we bribe someone and the house or land or property names gets changed............
If Mukesh Ambani has built the biggest and most expensive house in Mumbai, he still derserve it as he gives employment and earn billions of dollar of exchequer for the country.But what these politicians gives to country?They just take bribes and makes money while doing nothing.
I have already written on Madhu Koda and Sharad Power case and now A Raja case has come up which IT people says government has lost Rs 1,76,000 cr in revenue!
That is HUGE...........
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