The same set of people start raising racial issues when it comes to LN Mittal taking over a british steel company if denied by shareholders but seeks monetary favors for a deal invoving british takeover in India. How can the share holding be questioned now when it was right earlier? The Indian Babudom & political system just stinks.
RE:It is money making time for Indian Officals & politicians
by raj esh s on Apr 16, 2007 12:37 PM Permalink
stut up pradeep, i dont think you know much about the legal aspects of the deal
RE:It is money making time for Indian Officals & politicians
by Sanjay Bhattacharya on Apr 16, 2007 01:13 PM Permalink
listen yu know all raj esh s! This is typical of Indian bureaucracy who can't work without graft & so has to needle people...even if Analjit & Ashim have been given loans to purchase those shares & the lenders have control on the use of those shares, which bureaucrat & Govt does it affect !!! & whether a Modi or Ambani or Birla or Ruia or Tom, Dick,Harry owns the balance 24% how does it affect biz ??? Don't the Ruia's have part of their holding thru' offshore entities (which is why the complication is coming in this 15% whether its also offshore or truly Indian shareholding)....This kind of nitpicking by Nitwit people who purpotedly control our destines is truly unfortunate !!! People have created wealth, let them enjoy the benefits, let there be more enterprise, more employment, employees get better lifestyles...celebrate capitalism & try & ensure that there is quicker redistribution of wealth or atleast the poverty levels come down below 22% (in last 10 years its fallen from 33 to 22 % - great achievment after 60 years of independence....only shows the lack of application & work of the Indian Govt & bureaucrats ! Noting better to do in their work possibly
& to Rediff : I have been reading most of the postings across articles & 90% of the comments are utter stupid, people who have no knowledge or understanding about issues keep commenting ridiculously...
RE:It is money making time for Indian Officals & politicians
by karan kapoor on Apr 16, 2007 01:32 PM Permalink
ok mr. Bhattacharya or watever, you think you are smart...wat kind of theory you have been suggesting....before you blame bureaucrats (am not defending them) realize wat you say. It affects the c0ntrolling interest and affects the value it generates to the Indian economy. I hope you must be knowing the transfer price mechanism and supporting subsidiaries which Vodafone may twist in order to extract all the juice from hutch India to parent company. Simply if an actual price of sercice or components is rs. 10 it might be shown or manipulated to 15 (say)and then all the money which is earned is not reinvested but moves out of the country. Wat reference does poverty brings here am still thinking. The high stakes will give them full control of the board as the guys Asim Ghosh, Analjit Singh and IDFC in Hutch-Essar wil have no right of disposal which will make them work on their will and its the small scattered shareholders who suffer. Whether bureacrats make money or they are corupt that's another issue but it is against the guidelines and the good of the country. See generally bongs are nice ppl but ppl like you who poke their nose into everything without knowing much and try n show they are intellect spoil all bongs name. Understand before you comprehend and THINK BEFORE YOU RIGHT.
RE:RE:It is money making time for Indian Officals & politicians
by jack jack on Apr 16, 2007 04:32 PM Permalink
Sanjay, I say agian you are a nomad when it comes to the law. So keep your trash to your self. Your insipid comments come from your unintelligent mind.
RE:officials wants bribe
by chanakya maurya on Apr 16, 2007 11:47 AM Permalink
While your guess is understandable, Sammer, it must also be appreciated that on many occasions the foreign investor often hoodwinks, mostly successfully, the authorities by circumventing the rules legally from a technical point of view, yet illegally from a practical point of view by creating stooges and virtual imaginations.
Here we have two Indians whose holding is highly questionable.
Let FIPB sort it out.
In any case, it would hardly be desirable for a communication company of Bharatvarsh owned by a foreigner.
It would be the best thing happening to the nation if voda is kept out.
RE:officials wants bribe
by Sanjay Bhattacharya on Apr 16, 2007 01:17 PM Permalink
very patriotic Indians we have ! always backward in their thinking...go and acquire Cos overseas if you think India is being occupied by foreign capitalists...we don;t need Govt rules running biz, let enterprise & people flourish....Indians are the best entreprenuers & managers...
RE:officials wants bribe
by chanakya maurya on Apr 17, 2007 01:45 PM Permalink
Arre Yaar, Raj, this is democracy; let any one post his/her views on the subject. There are certain things that lurk from beyond the horizons that few can see. It is not Sanjay's fault. They say all that glitters is not gold.
the current shareholding was existing even before Vodafone took over. Why is this controversy being raised now? If a mistake has been done, this was done long ago and not now. Perhaps corporate rivalries are involved rather than purely business decision. Doing business in India is still tough. Such lack of clarity in decision will scare away potential investors.
seems like some one else is washing their dirty linen thru this deal. there are so many disgrunteled parties who could nnot clinch the deal. FIPB has never shown this kind of attituude before and their concern and over enthu says things doesnt appear the way they are in real. The ambanie's have a dirty track record of going to any extent to satisfy their vested interests, Mr sarin its time for you to be doubly careful.Best of luck.
This problem is been invited by Vodafone. Who in the world will go with Ruia for partnership. Their approach is always too greedy. May be ethichs and values are paper weight in their partnership. Reliance was the right company to take over 100% of hutch
RE:Problem Invited by vodafone
by madan bondal on Apr 16, 2007 11:25 AM Permalink
When u speak of ethics, how Reliance fits into the deal? Peoples' memories of the late 70's thru 80's seem to be short. The crusade against the unethical acts committed by Reliance exposed by The Indian Express and Gurumurthy during the building up of Ambani empire is well documented.The present Frgn Minister was the FM during that period.Who cares for remembering the past?
RE:Problem Invited by vodafone
by pradeep agarwal on Apr 16, 2007 11:50 AM Permalink
You have a sharp memory.The same set of people will go to any length to make Vodafone entry more expensive.Recall Ratan Tata's statement that some groups in India think they are above law & both are invoved in this deal.
RE:Problem Invited by vodafone
by jay shah on Apr 16, 2007 12:26 PM Permalink
do you think doing business in india with ethics and "no bribe" attitude would be easy??? Just taking it too positively, i congratulate the ambanis to make their way towards success even becoz of all these problems.....
RE:RE:Problem Invited by vodafone
by jain varghese on Apr 16, 2007 11:26 AM Permalink
Don't bother who is taking Hutch...wheather its Indian or foreign...bother which company have good track record and nil dirty tricks in thier whole business...ie fair
RE:Problem Invited by vodafone
by VoiceOfPeple on Apr 16, 2007 12:09 PM Permalink
The government wants to see throught that at anycost the takeover is by relaince , Relaince runs the goverments fills the pockets of Ministers and officials. Take the case of Oil find , why is so that where ever reliance digs a well finds oil , where as ONGC which has been digging for years doesnt find the oil so often , becasue all the lucrative land where oil can be found is handed over to relaicne , Reliance for telecom sector broke the law abt the license fees but our government amended the law so that reliance has not to be penalised and pay hefty license fees , got away with few hundreed crores where as others paid thousands of crores , LONG LIFE GOVERNMENT and MINISTERS
Ab to Arun Sarin ki lagi. Indian ceos of large MNCs like to show that they are supermen in front of the Indian janta and then get screwed. Rana Talwar was doing quite well as CEO of Stanchart Global, acted funny and got booted out. Now it is Sarin's ass on the firing line.
He should have thought twice before dealing with the Essar's and he thought he could use his position to browbeat the Indian govt. with a little help from the UK govt. Now he has been screwed by the Ruia's who are surely behind this whole thing. Hero ban gaya zero!
RE:Vodafone Deal
by jain varghese on Apr 16, 2007 11:35 AM Permalink
Rana Talwar (1948, Indian nationality)
Rana Talwar is based in London. He graduated in Economics, History and Psychology from Delhi University.
From 1969 until 1997 he worked with Citibank. From 1969 until 1977 in India, then in Saudi Arabia and Hong Kong and from 1988 in Singapore, as Division Head Asia Pacific. In 1991, he became Executive Vice-President Asia Pacific and Middle East and Member of Citicorp/Citibank Policy Committee. From 1995 until 1997 he was Executive Vice President, North America and Europe, based in Brussels and Chicago. R. Talwar left Citibank in 1997 to become Group Executive Director of Standard Chartered PLC, London, of which he became Group Chief Executive from 1998 until 2001. In 2002, R. Talwar set up Sabre Capital Worldwide, a private equity business, aiming at the acquisition of financial institutions, with a focus on emerging markets.
Fortis Director since 2004; term of office runs until 2008.
Other positions: Chairman Sabre Capital Worldwide, Non-Executive Director Pearson PLC, Director Indian School of Business, Non-Executive Director Schlumberger Ltd.
