Companies & Sectors
Maruti Suzuki unrest: Police files FIR against 60 workers

Labour unrest is not a new phenomenon in Maruti Suzuki's Manesar plant which mainly produces Swift. The factory had witnessed three such instances last year causing a total production loss of about 83,000 units

Gurgaon: The Gurgaon Police have lodged a first information report (FIR) against about 60 workers, including union leaders at Maruti Suzuki India's Manesar plant, where one person was killed on Wednesday in a clash between workers and the managerial staff, reports PTI.


"So far 88 workers have been arrested," DCP Maheshwar Dayal told reporters outside the plant in north Indian state Haryana.


He further said a special investigation team (SIT) has been formed headed by Assistant Commissioner of Police Ravinder Tomar with six inspectors to probe the incident.


In order to maintain law and order at the plant, 1,200 policemen have been deployed in and around the area, he added.


The company has in the meantime said the plant will remain closed. "The management has given some names of union leaders. An FIR has been lodged against around 60 workers," SHO Manesar Om Prakash told PTI.


A case under sections of murder, attempt to murder, causing grievous injuries and damage to properties and other different sections of IPC has been registered against the workers, he added.


When asked if any arrests have been made, he did not comment but said "some workers have been detained" without specifying details.


"The workers who instigated the violence and committed the crime have been identified and will soon be arrested," Prakash added.


Worker sources said they would not be going for work till the government intervened and all the culprits were arrested.


The company had said yesterday violence broke out in the evening when a worker beat up a supervisor on the shop floor.


However, the employees union said "objectionable remarks" by the supervisor against an employee triggered the violence.


The company had said yesterday in a statement that "workers at the plant turned violent, attacking and injuring executives and managers in the office premises. At least 40 managers and executives are injured, and have been rushed to hospital. The attackers also set fire to property and damaged facilities".


Labour unrest is not a new phenomenon in Manesar plant which mainly produces Swift. The factory had witnessed three such instances last year causing a total production loss of about 83,000 units.


Reliance MediaWorks: Story of PE fund investment not the first time

Reliance MediaWorks, a loss making company of the Anil Ambani group claims to have found a PE fund which is interested in buying ‘minority’ stake for Rs605 crore in its film and media services division. Can this be true? This is not the first time that the limping entertainment business of Anil Ambani has claimed to have got a large investment by a foreign fund

Anil Ambani-led Reliance MediaWorks said it has signed a term sheet with a “leading international” private equity (PE) fund, under which the fund would buy a minority stake in the company’s films and media services division for Rs605 crore. But this is not the first PE fund investment in the Reliance Anil Dhirubhai Ambani (R-ADA) group company.


Reliance MediaWorks, in a regulatory filing said, “ terms of which the potential investor has provided an indicative non-binding proposal to acquire a substantial minority stake in Reliance MediaWorks’ Film and Media Services division for an investment of Rs605 crore.”


“Reliance MediaWorks and the potential investor have agreed to exclusivity for the next 90 days. The proposed investment is subject to completion of customary detailed due diligence, definitive documentation, completion of subsidiarisation of the film and media services business and approvals as may be necessary,” the company said in the regulatory filing.


Following the announcement, Reliance Entertainment shares jumped 8% on the BSE. It closed at Rs62.40 or 5.8% higher while the benchmark Sensex closed 0.47% up at 17,185.


Four years ago, billionaire investor George Soros was supposed to invest $100 million for buying a 3% stake in Reliance Entertainment. Both parties signed a term sheet in March 2008. However, the deal was stuck later over valuation of the company and other issues. The announcement about investment by Soros pushed up Reliance Entertainment’s share price and valuation. With 3% stake coming at $100 million, the company was valued at about $3 billion. But there was no further progress. It is doubtful whether Soros has actually made the promised $100 million investment. The exchanges and the market regulator stay blind to such efforts to news items which temporarily influence prices.


Reliance MediaWorks, formerly Adlabs Films, has 500 movie theatres branded as BIG. For the full year ended March 2012, its loss widened to a huge Rs411.4 crore from Rs256.2 crore, while its total revenues fell to Rs495.5 crore from Rs524.9 crore in the year-ago period. Its theatrical exhibition segment reported the biggest loss of Rs141.6 crore, a steep rise in loss of about 95%, from a loss of Rs72.8 crore, same period last year. It is the same segment that is responsible for garnering maximum revenues for Reliance MediaWorks. For FY12, revenues from this segment increased marginally to Rs375.7 crore from Rs361.1 crore last year. Who would put money in a venture like this?


The R-ADA Group in general has been strapped for cash because many of its businesses have been doing badly—as is reflected in stock prices which have hit multi-year lows.


Just last month, Canada-based independent research firm Veritas, in a report titled, “A House of Cards” alleged that Reliance Communications (RCom), another company of the R-ADA group, is entering a phase of maximum uncertainty. The report states that the management will have to work out the debt repayment obligations of nearly $2.2 billion over the next two years even as the EBIDTA in its core telecom business is languishing.


RCom has been trying to hive off its tower business unit, Reliance Infratel since past few years. It started with GTL Infrastructure agreeing to combine its tower business with Reliance Infratel by paying Rs11,000 crore to Rs12,000 crore as cash component of the deal valued at Rs50,000 crore. However, it fell through over differences over valuation and funding between the two companies.


Late in 2011, RCom started talks with PE funds like Blackstone and Carlyle for offloading its 95% stake in Reliance Infratel. The deal was supposed to be closed in January this year. According to media reports, after several rounds of negotiations, the PE funds have signed a term sheet to buy stake in the telecom tower company.



Rajkumar Singh

4 years ago

I understand that this news is to alert or caution the pubilc about the NAV of R-ADA Group going into disarray and the investors should be aware of the consequences they may face before investing.

If I am wrong, please correct me.

Prajna Paromita Majumdar

4 years ago

ADAG's media business is a disaster. It's hardly a surprise, considering the kind of people Mr Ambani employs at the upper management level.

Rajesh Khanna, the first superstar of Hindi films, is no more

Rajesh Khanna, whose romantic persona in songs like “Mere sapno ki raani”, “O mere dil ke chain” and “Roop tera mastana” made many a young woman’s heart skip a beat, was Hindi film world's first actor to attain superstar status

Mumbai: Bollywood’s original superstar Rajesh Khanna, who charmed his way into the hearts of millions of swooning women in the 1960s and 70s, died on Wednesday, reports PTI.


69-year-old Khanna, who shot to superstardom with the 1969 hit ‘Aradhana’ opposite Sharmila Tagore, passed away at his home, two days after being discharged from Lilavati Hospital in Mumbai. He had been ailing since April.


Though a romantic hero, Khanna essayed a variety of roles with ease in his illustrious career spanning four decades. His portrayal as a cancer patient in the Hrishikesh Mukherjee-film ‘Anand’ (1971) in which he got the better of Amitabh Bachchan left many teary eyed.


Nicknamed ‘Kaka’ by his adoring fans, he is survived by estranged actress wife Dimple Kapadia and daughters Twinkle and Rinkie, all of whom were by his side when his end came.


Khanna’s family as also Lilavati Hospital authorities were tight-lipped about the nature of the actor’s illness.


“We cannot tell you about the nature of Khanna’s illness... Please get in touch with his family,” a spokesman for Lilavati who identified himself only as Dr Trivedi told PTI.


According to sources close to the family, the cremation will take place on Thursday.


Vijay, a close friend of Khanna who had been interacting with the media since his illness, said, “Kaka’s food intake had gone down over the last few days making him very weak.”


The news of Khanna’s death this afternoon spread like wildfire and hundreds of teary-eyed fans descended at his bungalow ‘Ashirwad’ in Bandra.


“My father-in-law is no more. He has gone to a nice and heavenly place. I am happy that he has gone there and hope that everyone will pray for him,” his actor son-in-law Akshay Kumar told waiting reporters and fans outside ‘Ashirwad’.


Several Bollywood celebrities including actors Rishi Kapoor, Prem Chopra and film maker Sahid Khan visited Khanna’s home to pay homage to the actor.


The veteran actor, who lived a secluded life of late, recently appeared for a film advertisement of a well known brand of fan, his face and eyes sunken. His reel fans were shocked to see him a pale shadow of his former self.


During his illustrious career Khanna gave 15 consecutive solo super-hits between 1969 and 1972 including “Aradhana”, “Haathi Mere Saathi”, “Anand” and “Amar Prem”.


Veteran actress Saira Banu, who missed a chance of working with Khanna during his stardom days, remembers the actor as a very ‘shy’ person.


“I was supposed to work with him in ‘Choti Bahu’ but I could not because I was ill. I shot with him for two days and found that he was very charming, humble and a shy person. May his soul rest in peace,” Ms Banu said.


His contemporary Manoj Kumar said he was planning to meet Khanna.


“I had called Dimple but she told me not to come as Rajesh Khanna was not in a position to talk... I miss him a lot and I have shared some of the best memories with him,” Mr Kumar said.


Filmmaker Subhash Ghai said, “He was the powerhouse of Hindi film industry. I met him on the sets of Aradhna, he had some kind of energy and you will be charged when he is around you. His name will be written in golden words.”


Producer-director Karan Johar said Khanna’s magic will live forever.


“The magic... the mannerism... the mania of Rajesh Khanna is inscribed in every archive of Indian cinema... forever... RIP SIR!!!” said Karan Johar.


Filmmaker Madhur Bhandarkar said, “The epitome of superstardom is no more amongst us. There was none, there is none and there won't be any like you kakaji. You will be missed.”


Tusshar Kapoor tweeted, “Rajesh Khanna ji, our first superstar is no more! I worked with him in ‘Kyaa dil ne kaha” and learnt a lot just talking to him! May his soul RIP!”


Actress Neha Dhupia said, “RIP Rajesh khanna Saab ... U, ur stardom, ur magic will live forever!”


Shabana Azmi, who starred opposite Khanna in films such as “Amar Deep”, “Thodisi Bewafaii” and “Avtaar”, said, “He was the superstar like no other, did 10 films with him. Met him last at the Apsara awards. Pale shadow of himself but smile as winsome RIP Rajesh K.”


“Rajesh Khanna gave us a crash course in romance. He introduced us to a special twinkle in the eye that made us feel good about ourselves. RIP,” Anupam Kher wrote.


“Another of Hindi cinema’s giants passes, Rajesh Khanna.


Our sincere condolences to his family. We will miss him dearly,” Madhuri Dixit tweeted.


“Too young. Too early. Tragic. RIP Rajesh Khanna. A candle that burned brighter than any star for too short a time,” filmmaker Shekhar Kapur said.


“When we lose a loved one, something within us dies. Our generation loved Rajesh Khanna. Today a bit if us dies with this enigmatic star,” Mahesh Bhatt tweeted.


“Just heard the sad news, heartfelt condolences & prayers to the family to cope with this irreparable loss, RIP Rajesh Khanna, a Superstar always,” said Shilpa Shetty.


“Rip Rajesh Khanna,” said Sonam Kapoor.


“RIP to the 1st king of romance... Rajesh Khanna,” Shahid Kapoor posted on the micro-blogging site.


“Loss of a Superstar! Iconic Actor! RIP Rajesh Khanna!” Bipasha Basu posted.



Rajkumar Singh

4 years ago

It is great loss to the film fraternity and his fans.

May his soul rest in peace!

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