Former diplomat wrote to PM Modi requesting waiver of the cooling-off period, will now report directly to Tata Sons executive chairman N. Chandrasekaran.
In this fascinating phase in our post-reform political economy, corporate India has seen its power hit rock-bottom exactly when there is talk of rampant crony capitalism.
For all its obvious blemishes, capitalism alone holds out the most creative and dynamic force that any civilization has ever discovered, wrote BP Godrej in 1980.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
This is the first major attack on central security forces since last November, when a CRPF jawan was killed and four were injured in an ambush in Jiribam on Manipur-Assam border.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
One fears there will be no serious buyer for Air India. Asking the successful bidder to absorb $ 5 billion of debt is a complete deal breaker. The 26% retention of shares by the government is meaningless. This is not Hindustan Zinc, where a company valued at 400 crores at the time of disinvestment is now worth 2 trillion and the government’s stake is valued at 55,000 crores. 2. Since this is the last year of the present term, the government will simply go through the motions. Either greatly simplified terms of disposal may fetch a buyer or the airline will have to be shut down, with its assets being sold piecemeal. That will be a pity, since the brand will cease to exist. 3. Willy nilly, the debt will be taken over by the government, which will also give its employees a fair severance package. Not being able to complete a single disinvestment will show up on the Report Card.
One fears there will be no serious buyer for Air India. Asking the successful bidder to absorb $ 5 billion of debt is a complete deal breaker. The 26% retention of shares by the government is meaningless. This is not Hindustan Zinc, where a company valued at 400 crores at the time of disinvestment is now worth 2 trillion and the government’s stake is valued at 55,000 crores. 2. Since this is the last year of the present term, the government will simply go through the motions. Either greatly simplified terms of disposal may fetch a buyer or the airline will have to be shut down, with its assets being sold piecemeal. That will be a pity, since the brand will cease to exist. 3. Willy nilly, the debt will be taken over by the government, which will also give its employees a fair severance package. Not being able to complete a single disinvestment will show up on the Report Card.