Showing posts with label sebi. Show all posts
Showing posts with label sebi. Show all posts

Sunday, April 20, 2014

KUNAL DESHMUKH: (WITH) THE LOINS OF PUNs & JABs..!!!

Oh dear! Excuse the typo error. I meant the Lions of Punjab since I am personally & always immensely impressed with men of courage, wisdom and vision. Somehow my title went into sounding into an innuendo.  I will choose the liberty of thinking that perhaps those with a sense of humour would enjoy this inconsequential comedy of errors!

Infact, I do think that I posses a rather healthy and liberal sense of humour. What is life without a hearty laugh and comical twists of absurd yet funny incidents? Pick up the newspaper and it will tickle your mind with some of the most bizarre & fantastical stories you will ever hear or read. I must say our new breed of journalists have learnt to grow a funny bone and have taught us the same. Interestingly our new age news makers don’t fail to amuse and entertain either.

Recently, I read an article about Kunal Deshmukh’s aspirational directorial piece which he is calling Raja Natwarlal, so sadly, based on his ill-informed references of a major business tycoon, Mr.Subrata Roy Sahara, who is currently in a legal turmoil with the SEBI. For those who haven’t heard of Kunal Deshmukh I am not surprised. He is a dot in the massive Entertainment industry with his directorial ventures mostly revolving around Love, Sex and Drama. What is really baffling and worth mentioning is the ignorance that Deshmukh displays. I mean come on! A new age, educated 32 year old, metro-sexual man with such a horrible grasp on current affairs? Where on earth did he learn that Subrata Roy’s business dealt with chit funds? Who on earth told him that he is in a legal turmoil because of some non-existent property scam?  Mr.Deshmukh when you plan to enlighten us with your vision (I’d love to call them nightmares) and creative non-genius, atleast get your facts correct! So much for a spin with so few, rather, zero hard facts! Your statement only projects a pathetic attempt to exhibition your inspiration as “more 'shocking' and 'in-depth' than your last one” & your dumbness is both laughable and pitiable.

And there goes my hunger for a good laugh, fed. LOLs, ROTL..!!! Feed people only trivia and entertainment, you will wither their appetite & feed them nonsense, you will surely food poison them! I wouldn’t get into the elaborate details of what the SAHARA SEBI issue is about but in a gist it’s been revolving around SEBI’s conceited claim over investor protection arguing that Sahara’s business practices are unhealthy and harm the depositors. Sahara is an enormously diversified Indian conglomerate employing around 12 lacs employees with business interests in Motion Pictures, Hospitality, Para-banking (Mr.Deshmukh! you must, especially, Google Parabanking before you ignorantly ramble some mumbo jumbo about the subject and embarrass yourself further..!!!!), Retail, etc. Sahara has never been in the business of Chit funds and most certainly never in Lotteries either.

When someone like a Kunal Deshmukh makes such juvenile, foolish, ill informed statements, it’s scary!!! He comes from bracket of an industry that moulds impressions. So the least you expect from him is sound and good research on his subject of inspiration. Just making appearances match, doesn’t do the job. And if you are ill- informed on the subject then admit so. Saves you the embarrassment! Has he ever interviewed Mr.Subrata Roy? Has he reached out to his family for his research or spoken with his employees, ever? Has he ever made any intelligent enquiry about his businesses, as a part of his study? I assuming the answer is, No! What is even more amusing is what the journalist, Ms. Priya Gupta, finds interesting about the similarities. Being a journalist, I thought she knew the undertones of the Sahara SEBI issue and would have utilised the opportunity to dispel some myths about the matter.  She could have very easily burst Mr.Deshmukh’s bubble and conducted some responsible reporting.

G.K. Chesterton once said, “Journalism largely consists in saying "Lord Jones is dead" to people who never knew Lord Jones was alive.” Ms.Gupta, i thought you had more substance in you than taking a jab at a man who is much more seasoned than you are, experienced more life than you ever will, struggled his way up to accomplishments and fathers an army of loyal, hard working & honest workforce. Lead these many men; first, in your lifetime tell and then us what you found interesting about that. Likewise for you Mr.Deshmukh! Your Goliath emerges to lack any soul or intensity. Your statements in Media are imbecile and your knowledge of the subject is appalling. You sure you haven’t mixed David for Goliath? Or perhaps in your fit of ignorance you’ve drawn an incorrect analogy. You should probably draw the parallel with IGNORAMUS & STUPIDUS!! I already feel bad for myself for having apologised for my accidental innuendo, in the beginning. Mr.Deshmukh hasn’t even offered his! I knew he was ignorant and ill read, what I didn’t know was that he lacked mannerisms, too.


My commiserations to your nightmare “Raja Natwarlal”, Sir and my LOLs and ROTLs too!!! Also, please accept my loaded statements with puns and jabs at your intelligence, with no prospect of an apology!


With prayers for you in my heart,

A concerned Samaritan!!!

Wednesday, April 16, 2014

Sahara Sebi - Imagine

Sahara VS Sebi
Sahara VS Sebi
Let’s Imagine! Imagine Charlie Chaplin not being the legendary comedian that he was. Or Arnold Swarzeneger not the action icon we all know him as. Imagine Sachin Tendulkar not being the celebrated cricketer but a regular 9 to 5 school teacher or if electricity was never invented. What would it be like if Newton had never discovered the Law of Gravity or Einstein had not made those elaborate inventions? What if Elvis continued driving trucks or Satyajit Ray wasn’t an illustrious story teller? Difficult and rather unfamiliar and absurd hypothesis! Would these people be still famous, brilliant and celebrated if they were not in their chosen professions? What would have our lives been like in the absence of these people or their world changing contributions to humanity? The answer can only be left to one’s imagination and with no certainty can anyone claim that they be who they are today or what would our existence been like, if these men were not true to their calling.

Now for a moment, let’s imagine a bit further. Would Sahara India have avoided the existential crisis, they are in today, had they not chosen to provide a sound, secure & lawful financial structure to a stratum of the society who has always stood ignored amongst the tall claims of social and economic development? What would the lives and future of these millions of depositors would have been like if they didn’t have a secure medium to invest and save and flourish? What would the future of the children growing in these millions of households have hold? Would they be educated? Would there be employment for the unemployed or the less skilled or the poor? Would there have been economic empowerment for the have nots who do not have the means or the sanction to even hold a bank account or a legitimate Id? Would the chief of Sahara India, Subrata Roy, have saved himself the witch hunt by a National Regulator or avoided jail had he chosen to create a lush empire and focused on serving himself rather than serving the people? Such a swarm of hypotheticals starting with just one simple question, “Imagine?”

Sadly, there are no simple answers. Only simple questions. The answers are complex, unfathomable and lead down to a road of nefarious possible motives, juxtapositions & outcomes. SEBI’s motives juxtaposed with the Court’s senseless brickbat blows on the Sahara Chief only adds insult to the common man’s understanding of productive regulation and fair justice. Even more dangerously, the imagination of SEBI and the Courts have taken a turn for the worse and seem to be more heavily invested in feeding their own egos, their illogic and mindless banter rather than using that imagination to serve and secure.

Currently, SEBI has been claiming that investor accounts provided by Sahara are fictitious and the regulator’s independent verification has failed to make any headway. SEBI so far has been able to repay less than 1 crore rupees to OFCD investors even though its been 18 months since Sahara deposited 5,120 crore rupees with the market watchdog. Interestingly, in 2008, Sahara had paid back around 4 crore depositors under strict supervision of Reserve Bank of India. The central bank, then, did not stumble upon any such fictitious account and the OFCD issue had almost same set of investors. So is SEBI imagining these investors as fictitious or is it disguising its incompetence. To further add to the comedy of errors, the Supreme Court has expressed its displeasure over SEBI’s tardy pace in verifying these investor accounts in Sahara’s OFCD issue. I can only imagine the embarrassment the courts must be facing at the hands of the regulator’s malfunction. And who is paying the price for all this mockery. The innocent, the lawful and the poor!

Let’s tax our imagination one more time and explore another set premise. What if Sahara is innocent? What if the Sahara supremo is being wrongfully accused and punished? Is SEBI acting in the best interest of the depositors or is it blinded by its punitive sense of dominion? What would it be like if SEBI realized and acknowledged that these investors in question are for real? What would it be like if there was no Sahara to begin with? Are these questions that have real and heavy implications or are they just plain rhetoric?

The answers can only be left to unfold as time and events pass by. The outcomes would be real and the consequences can either set unhealthy & dire precedents or can pave way to a truthful, mindful and fair premise. Just IMAGINE..!!!

Source: http://www.latestechie.com/blog/sahara-sebi-imagine