AAP’s Glare is directed at select businessmen

Why’s Arvind Kejriwal silent about the massive loot of banks by large and small businessmen and politicians?

Arvind Kejriwal is, without doubt, one of the sharpest minds on the political scene today. His guerrilla tactics of destabilising established power centres has won him an impressive victory in Delhi and his anarchist ways and disregard for rules has only increased his following among disenchanted Indians who want change at any cost. His followers are uninterested in facts and details. So, if one asks Mr Kejriwal why target Mukesh Ambani alone and remain silent about others, he could well argue that he will do what he can and it is for others to take up the rest.

He has probably calculated that training his guns on public-private partnerships in bijlee and paani will yield better political dividends than issues that do not affect the aam aadmi directly, or are less catchy. But even taking all these calculations into account, one cannot help wondering why Mr Kejriwal is silent about the biggest source of the loot of public money and the watering hole of all dubious capitalists—the frightening amount of bad loans run up by public sector banks.  

In this context, one also wonders about the silence on the Rs7,000-crore largesse, in the guise of corporate debt restructuring, handed to ‘pepper spray’ Rajagopal, the founder of the flying Lanco group, who has run up huge losses and gets bank funding with ease. There is similar silence about Vijay Mallya of Kingfisher Airways, who also owed Rs7,000 crore to Indian banks. One could list many more who are not in AAP’s crosshairs. But one can’t help wondering why they are not.



K Manjrekar

3 years ago

It seems you are hurt that Ambani is targeted.Why don't you ask Kejriwal himself.

kaushik shukla

3 years ago

selective approach of attacking industrialist certainly raises questions about his integrity to offer any solution to aam aadmi who has brought him to lime light.
His only objective is to gain popularity at any cost by announcing controversial statements. To raise issue is one thing and to offer effective solution is entirely different ball game. Delhi voters have already understood his game and I am sure other voters across India will show him the correct place in 2014.


MG Warrier

In Reply to kaushik shukla 3 years ago

This is indicative of the hopes raised by the AAP message. Politicians and leaders of political parties in India have been giving ‘promises’ through speeches and manifestos for the last 66 years. If Kejriwal is getting an audience, may be, he has been able to infuse some credibility through his deeds. No individual howsoever efficient or honest he may be in his approach, will not be able to clear the present environment of governance, until ‘WE THE PEOPLE’ wake up.

MG Warrier

3 years ago

The concerns and anxieties expressed here about ‘selective approach’ by a political party which came into being based on certain principles that aam aadmi respected are genuine. My personal view is that Kejriwal’s assertion that ‘AAP is a message and not yet a political party in the sense the words are now understood’ should be respected. Other forums and platforms should follow up (or dispute) the initiatives by AAP on an ongoing basis. This includes supplementing the efforts of AAP in exposing corruption and unethical practices. Excerpts from(the unedited version of) my article on AAP published in The Global ANALYST, February 2014 relevant in this context copied below:
“The Indian Aam Aadmi has asserted his right to make his voice heard, thanks to the conduit provided by AAP. Let us not compel AAP to show the results they apparently promised. Now, it is the turn of the common man(Famously referred to as “WE THE PEOPLE” in the preamble of the Constitution of India) to organise, wherever they are, and force the legislature, executive and the judiciary at all levels to uphold the spirit of the Constitution and bring back ethics and morality to governance.
If Aam Aadmi and the BPL(Businessmen-Politician-Lawyers) Combine which is managing the show in Delhi take the message sent out by AAP through the medium of broomstick seriously, and act in a proactive manner, during the short period left for Elections, 2014, several stages of pre-stabilisation experiments of India Growth Story can be skipped. Here, all political parties(Right, Left and Centre) have a responsibility to participate. Time is running out.”

mm sundram

3 years ago

the report cannot be accepted since there were several cases already put up on these companies. they are now in beleaquered state of condition. take the kingfisher. its totally out of business. like wise he sold major junk to foreign companies. his shares already sold out by the institutions. but what is the action taken against the Amabanis. i, myself, made a very serious complaint against the reliance group in 2005-6 when they divided their companies into several entities. there is lot of manipulations. i could not spent much over this complaint since i am an individual and the monies cant be spent much. but the SEBI the market regulator has not taken any action. this kind of activities going on in India whereas u are blaming the Kejriwal he is only hope for the future..

Shivangni Sharma

3 years ago

He is shrewd but even his admirers have started saying that he is over smart. Earlier I doubted his ability, but the way he engineered his exit from Delhi, I have doubts about his intentions too. He reminds me of VP Singh, how he managed to fool us into voting him to power only to be horrified at his hard line on reservation. We could see similar ulterior motives revealed if (heaven forbid) AAP comes to power


3 years ago

I think everyone is caught looking at AK very unjustly. He took on Anil Ambani and Mukesh Ambani as they were both running companies that affected Delhi - Anil by virtue of his control over BSES now Reliance Power and Mukesh Ambani for the gas price increase which forced NTPC to increase rates.

Anil Agashe

3 years ago

You are absolutely right. The problem with him is he does not seem to take a larger view of things. Why is silent about Sahara? He thinks Ambani is soft target that will yield political dividends to him.


3 years ago

There is more to AAP than meets the eye. . .

Mr. Raju Parulekar, a senior marathi journalist has been exposing 'Saint' Kejriwal.

It is all there for all to see on Mr. Raju Parulekar's twitter account.

FMP is unclear to investors: Our Online Survey Results

Moneylife’s online survey on FMP shows that 25% of the respondents do not invest in FMP. Those who are aware of the tax benefits and decent returns do not shy away from FMPs. What stops others? Lack of clarity and dearth of reliable advice is to blame

Moneylife online survey on fixed maturity plans (FMPs) received 372 responses. At first glance, the survey shows that 25% respondents do not invest in FMPs. If you do not have tax liability, or are in 10% tax bracket, it is better to avoid FMPs. Some 10% of respondents have, rightly, given this as the reason for not investing in FMPs. The survey, and emails received, showed that although people are interested in FMPs, they have to grapple with lack of reliable advice in choosing FMPs (20%).

People are looking for indicative returns and portfolio details (32%), but mutual fund companies are not allowed to declare these. Investment details are known only after the launch of FMPs. Moneylife’s Cover Story will serve as a guide for your FMP investment. March is the peak season for offers of FMPs. For the first time, backed by comprehensive analysis of data, not in public domain, we present an FMP guide to invest, calculate returns and ways to ensure that tax is saved by double indexation.

Some 22% of the respondents had 0%-5% of their debt portfolio invested in FMPs, while 12% respondents had invested 5%-10% in FMPs. Their main reasons for investing in FMPs are: returns are higher than bank FDs (36%) and they save tax on the returns (36%). One out of 10 respondents was not sure about how FMPs save tax.

Some 17% of the respondents are worried about the safety of capital, which is understandable, considering that an FMP is not as safe as an FD from scheduled commercial banks. One out of 10 respondents trust only bank FDs. A good 44%, rightly, said that possible returns on FMPs can be 8% to 10%. Investors avoid guidance from advisors while purchasing FMPs; they rely on their own research (28%).




2 years ago

The survey clearly shows lack of information, clarity how it works for tax savings and since there are uncountable MFs and FMP customers are confused, hesitant to invest in FMPs as Mostly its ones hard earned money and customers look out for safety and growth of their funds with assured returns on investment. Hence if more systematic steps taken to educate public and provide guidance w.r.t. proper FMP Options / MF options without heavy fees etc. I'm sure it will definately make an impact and more people will move out from the FD bracket and invest wisely in FMPs MFs. Same is with stocks. If people can invest and rest assured their money will grow systematically then they will start process of diversified investing in above instruments. Pl. provide honest and specific guidance to customers which will help and go a long way in future making public move away from FDs and get convinced their money will grow multiple times and tell them specifically how. Govt. agencies to guide public. Clarity w.r.t. growth of funds is a MUST. There should be no ambiguity. Just as FDs say in e.g. 1 Year your money invested will become exactly Rs.... same way FMPs too should specify rates and final maturity amts. This will instill guarantee and growth of investments. My views. correct me if I am wrong.

Suiketu Shah

3 years ago

The entire MF rules and regulations have got so complex and controversial (in attempt to safeguard MF brokers) that it is inevitably dying due to poor leadership of the rule makers for the industry.


3 years ago

In FMPs, Mutual funds hold fixed deposits till maturity and pass on interest income as capital gains to investors(?). . .

FMPs are a refined version of dividend stripping & against the very spirit of mutual funds investing.



In Reply to Nilesh KAMERKAR 3 years ago

Not clear about your point. FMPs have dividend and growth option. Yes, FMP will hold the securities (CD, CP, bonds/NCD) till maturity.


In Reply to raj 3 years ago

1) Request you to please make a list of fundamental characteristics / attributes of mutual funds and then compare those with FMPs. - You shall agree, FMPs are wolves in sheep's clothing

2) Returns from Mutual funds are classified as Capital Gains because they are unpredictable and arise from gains on capital.

3) There is no Capital gain generated by FMPs whatsoever. Returns are only by way of interest recd on maturity of time deposits

Therefore, FMPs are simply exploiting this loophole by passing on interest earned as Capital Gains. Dividend or Growth option does not matter.

Trust this clarifies.


In Reply to Nilesh KAMERKAR 3 years ago

1. See no reason to make such comparison. 2. Do debt mutual funds invest in instruments different than FMP? 3. If debt mutual funds are investing in same instruments as FMP, why would FMP not consider it as capital gains and debt mutual funds are ok to consider it? 4. If Taxman does not have any problem in considering capital gains instead of interest for FMP, your point is irrelevant. 5. Closed ended FMP starting and ending at same time takes away the uncertainties associated with entering and exiting at wrong time in debt mutual fund. Please read Moneylife FMP cover story for more details:

Krishnamurthy Kakaraparthy

3 years ago

FDs provide regular (Monthly/Quarterly) income. FMPs do not. Debt funds, with similar tax benefits, provide liquidity which FMPs do not have.
K Krishnamurthy

“Stay true to yourself, work with integrity & commitment,” says Gabrielle Seacy of AktivOrtho

According to Gabrielle Seacy of AktivOrtho, there are so many smart, talented people in India and the government needs to do much more to support them. AktivOrtho is a New Delhi-based orthopedic rehabilitation, sports medicine and medical fitness center

Gabrielle Seacy and her husband co-founded AktivOrtho to bring Western standards of Comprehensive Orthopedic Rehabilitation to India. Ms Seacy, who studied in Ireland, had worked for 15 years in marketing and business management. She moved from Germany to Delhi with her husband Dr Gerd Mueller and their two young children in February 2012. In April 2012, they started AktivOrtho with a team of eight physiotherapists, which has now grown to 28 physiotherapists and sports therapists. Till now, Aktivortho has treated over 2,500 patients. The turnover of the company is Rs8 crore with a gross profit margin of 55%.

Read the excerpts of the interview with Hitisha Jain of Moneylife:

Hitisha Jain (ML): What gave birth to AktivOrtho? Why did you choose Delhi as your base?

Gabrielle Seacy (GS): I and my husband Dr Mueller, who is also the founder of AktivOrtho, decided to bring Western standards of Comprehensive Orthopedic Rehabilitation to India.

Delhi chose us it seems, as did India in fact. We had patients from Delhi coming to our centres in Germany asking “why don’t you do this in India – we have nothing like this here”. That’s where it started almost five years ago. For two years, we travelled to and from India to see how best to make this model work, meeting with potential partners etc. In fact, our chief executive Dr Rajen Ghadiok (MD), who joined us two months ago, was one of the first people we met back then.

ML: What inspired you to start an orthopedic rehabilitation centre? How is it different from other orthopedic clinics?

GS: What makes our philosophy different is that we take a very active approach (thus our name!) in our treatment process; we engage our patients from day one with counseling and support to teach them to be more active in their daily life. It is a process and there is no quick-fix. We take a long term approach – yes, they may come with a chronic problem and we first need to solve their immediate pain but also we need to undo what is most likely years of a sedentary life-style and gradually get them to build exercise into their daily routine. Daily exercise is as much a requirement of our daily life as good nutrition and drinking water. Having seen the immense need in India and realising how nascent rehabilitation medicine is here, we strongly felt we could make a difference. So, we came up with the concept of setting up AktivOrtho.

ML: What challenges you faced while shifting to India?

GS: Every country and a new start-up have its challenges, but we have been blessed with finding a great team of employees. It takes time to find them and train them but overall we have been happy with the standard of staff generally. Prior to starting this project in India, Dr Mueller was Chairman (and also Founder back in 2000) of the Rueckenzentrum Group in Germany, which has seven centers across Hamburg, Berlin, Bremen and Cologne. For family reasons and also just for the challenge, we decided to do this project. We both like India very much, the people, the culture and we felt our children too would be happy here. Thankfully it has worked out really well – we have a great network of followers and friends, who keep us motivated and inspired!


ML: Why according to you it is important to encourage women entrepreneurship in India?

GS: Entrepreneurship is really a state of mind and an attitude of “yes I can do this”. Belief in oneself along with a strong passion for what you do and wanting to really do it the best you can are the key pre-requisites to successful entrepreneurship. It is hard work and there are moments which are frustrating but nothing in life comes easy. Stay focused on your achieving your goal, work hard, and believe in yourself.

India is a vast country with a huge population and there needs to be much more entrepreneurship across all sectors. There are so many smart, talented people here – the government needs to do much more to support entrepreneurs through education, start-up funding, helping to expand/ export. There is quite a brain drain of smart young people, who seek to build their careers overseas but it’s these very people India needs to hold on to – they are the future of India, be they men or women.

Specifically on encouraging women to be entrepreneurs, that is of course a given, but much needs to be done to change the social mores, which tend to in fact, hold women back, especially in rural areas. It will happen, but it needs some education and example-setting.

ML: What was your initial start-up capital for starting this business? Did you get any support from Government or any other organisation?


GS: The initial capital has been brought in by us privately and we are still in the process of setting up the business and its allied processes. It was started with about three million Euros. We had some initial guidance from a German overseas business development organisation but apart from that, not very much.


ML: Is it challenging for you to be a woman entrepreneur?

GS: I think whether you are male or female we all have to prove ourselves and our competencies. It is of course challenging in one’s personal life when as a woman, I am trying to be a great mother as well as managing and growing the business. I have to confess it’s hard; there is a certain amount of guilt I carry about this…not being able to spend as much time with the children but when we are together it’s very intense and is real quality, family time.

I remember the excitement and enthusiasm Gerd and I shared over the years we were travelling frequently between Germany and India. That same excitement is there – it’s a feeling of achieving something good here; building a strong team with knowledge that can help a great many people to get better. What is life without good health? The very positive feedback from both staff and patients, who recognise and appreciate the difference we make, is the key driver. The challenge now is to expand and ensure access for all the Western standards of rehabilitation medicine. This will take time and requires a lot of education and quality management to maintain these standards but the results really do speak for themselves.

ML: You are from Information Technology (IT) background, did it help in anyway?

GS: Having come from the IT sector mainly, over the years I worked with many female and male leaders who inspired me – success does inspire success. Developing best practice habits learnt from those I’ve previously worked with and today, being open to learn from our staff and our clients around, gives me a lot of food for thought as to how I can develop and improve my skills and knowledge. 

ML: You are handling the management aspect of the business, how are you dealing with day to day working operations?

GS: I could not live without my iPhone – it makes communication instant and helps me act quickly when I need to. I’m a massive believer in MS Excel – it gives me the overview I need for whatever function or activity and helps me to plan and organise myself better. My most commonly used phrase would be – “let’s structure this; let’s make an excel sheet for this project”. An abundance of patience is also important as well as a cool head and never taking things at face value…very important to assess things in detail.

ML: How do you see the future of your company?

GS: Our future plans would be to take this structured, comprehensive approach to rehabilitation medicine to other parts of the country by setting up more such rehabilitation medicine centers in the next couple of years. We need to conquer India first and then perhaps look at the Middle East and other parts of Asia who badly need our concept. So, the plan is to expand.

ML: What is your mantra for our women readers?

GS: Stay focused on your goal, believe in yourself and in what you are trying to achieve. Above all stay true to yourself, work with integrity and commitment. The rest will fall into place. Life is short; this is not a dress rehearsal – go for it!

You may also want to read…

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