Companies & Sectors
Bharti Wal-Mart may roll out outlets in Maharashtra, AP

Bharti Wal-Mart said it will be able to come out with specific plans with regard to retail business only after 45 days as the company is currently studying the government notification on FDI in retail

 
Hyderabad: Bharti Wal-Mart will not wait till all states in India allow foreign direct investment (FDI) in multi-brand retail to roll out its plans and may start opening its outlets from states like Maharashtra and Andhra Pradesh, reports PTI quoting a top official of the retail giant.
 
Raj Jain, Managing Director and CEO of Bharti Wal-Mart said the company will be able to come out with specific plans with regard to retail business only after 45 days as it is currently studying the government notification.
 
The company is a 50:50 joint venture between Bharti Group and US-based Wal-Mart for wholesale cash and carry.
 
"I think there are enough states and big states like Maharashtra and Andhra Pradesh which have expressed their willingness to allow FDI.
 
"I think those states are big enough to start our plans (for retail)," Jain told a press conference.
 
Recently, the government had allowed 51% FDI in multi-brand retail but left it to the states to permit opening of foreign funded stores.
 
Such stores would be allowed to be opened only in cities with a population of over one million.
 
A foreign retailer would need to invest a minimum of $100 million, of which 50% cent must be on back-end infrastructure within a period of three years of the commencement of the overall investment.
 
"It is only nine days since the FDA is opened in eight states. It is too early for us to share any clarity or details on our retail plans. We are studying the policy. It will take 45 days to come out with plans, Jain said in reply to a question. .
 
Earlier, Jain inaugurated Bharti Wal-Mart’s first 'Best Price' modern wholesale cash and carry store in the southern Indian city of Hyderabad.
 
This is the 18th store in the country and third in Andhra Pradesh.
 
"We are ready to open another five to six (wholesale) store in this year and every year we will open about 10 Best Price stores with each outlet of about Rs35 crore investments.
 
"We are going to open two stores in AP in the next six months," Jain said.
 
Bharti Walmart is a major supplier to Bharti Retail, which runs over 205 retail stores in different formats under the 'Easyday' brand.
 
Commenting on the government decision to allow FDI in retail, he said it is a calibrated cautious approach even as there has been concerns from political parties and others on the policy.
 

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SEBI chief UK Sinha's appointment under judicial scrutiny

The Supreme Court sent notices to Centre and UK Sinha to file replies on alleged irregularities in Sinha's appointment as SEBI Chairman. The Court also impleded Omita Paul following allegations that she bent rules to facilitate Sinha's appointment

 
New Delhi: The appointment of UK Sinha as chairman of Securities and Exchange Board of India (SEBI) has came under judicial scanner with the Supreme Court on Wednesday asking the union government to respond to a plea alleging various irregularities in his appointment, reports PTI.
 
A bench headed by Justice SS Nijjar issued notice to the Centre and the SEBI chairman, directing them to file their replies within four weeks on alleged irregularities in Sinha's appointment.
 
The bench also impleaded the President's Secretary Omita Paul, who was the advisor of the then finance minister when the decision to appoint Sinha as SEBI chairman was taken by the government.
 
The bench impleaded her after it was alleged that she had bent rules to facilitate Sinha's appointment as SEBI chairman by bypassing other candidates who had applied for the post.
 
The bench, however, refused to issue notice to the Centre on plea for CBI inquiry into appointment of Sinha.
 
The court passed the order on a PIL filed by one Arun Kumar Aggarwal, seeking to quash Sinha's appointment.

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ISRO security breach: Organized stupidity effect

It is inconceivable that a woman, supposedly mentally unstable, first checks into an ISRO campus guest house, and next day visits the headquarters and nobody knew anything about it. A lot of questions need to be answered

 
It is inconceivable that a woman supposedly mentally unstable, suffering from depression (which doctor certified that?), first checks into an ISRO (Indian Space Research Organisation) campus guest house, stays for the whole day, and next day visits the headquarters, and nobody knew anything about it, until her fake ID is found.
 
Not satisfied with fooling the security system reportedly in place, she saunters into the ISRO headquarters and goes around as a ‘scientist’ from ISRO office in Mangalore, which does not exist! Whoever met her, or to whom she was introduced, or she herself introduced, did not know that non-existence of the Mangalore office? What a pity!
 
Her movements, however, were suspicious and that triggers a check on her credentials which were found to be false. On the TV channels, the news that was repeatedly broadcast, what was assuring was that “she did not get access to sensitive information”. Congratulations to concerned officials.
 
Meantime, when the security found that her ID was false, instead of summarily detaining her right there, they (who?) asked her to return to the guesthouse, and then alerted the CISF personnel, according to the Police Commissioner, BG Jyothi Mirgi! Why did they not detain
her right there or take her into interim custody for further investigation is a mystery!
 
What happens, if, instead of returning to the ISRO guest house, as ‘advised’ by the security personnel, she simply takes a cab and disappeared? How stupid can you get?
 
Until further and full investigations are made and the intruder, Buela M Sam is subject to detailed tests, it is hoped that she is kept in custody and all claims made by her and her husband be investigated thoroughly.
 
For all you know, she may be a really sick patient; but it is incredible to believe that a personal of such an unstable mind and subject to depression status can go the extent of obtaining an almost perfect ID and then walk into the ISRO headquarters. How did she obtain these?
 
There are lots of questions that need to be answered and it is time security is beefed up at all sensitive areas. How do we know that she was not carrying any photo-relay equipments in person of the installations that she saw as a ‘scientist’?  It is shame on our poor security system, though someone found that something was not ‘clicking’ to alert higher officials.  It is also a wonder how she did manage to fool her ‘colleagues’, whom she must have met during her visit, none of whom obviously bothered to exchange views with her. By the way, is she multi-lingual too?
 
A look at the CCTV, if it was working, in all the areas that she visited would be able to throw some light on what she was able to see, learn and observe!
 
(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce and was associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US. He can be contacted at [email protected].)

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COMMENTS

nagesh kini

5 years ago

Mental instability has no visible indicators.
From the pics displayed she appears to be a charming and intelligent woman who charmed her entry and movements unquestioned! She gave no room for doubts.
The fact remains why and how long did it it take to suspect? As Ramdas rightly points out - with her lax handling she could have scooted. How stupid can our establishment be!
Security concerns my foot.

nagesh kini

5 years ago

Mental instability has no visible indicators.
From the pics displayed she appears to be a charming and intelligent woman who charmed her entry and movements unquestioned! She gave no room for doubts.
The fact remains why and how long did it it take to suspect? As Ramdas rightly points out - with her lax handling she could have scooted. How stupid can our establishment be!
Security concerns my foot.

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