Citizens' Issues
Modi's defining trait is determination, says British author
Prime Minister Narendra Modi's defining trait is determination and an absolute commitment to success, says British author Lance Price, noting that the Bharatiya Janata Party (BJP) leader has the potential to transform India's politics.
 
Price, whose book "The Modi effect: Inside Narendra Modi's campaign to transform India" (Hodder & Stoughton; pp 352; 25 pounds (hardcover); 14.99 pounds (paperback), was released earlier this month, said that Modi had been "a very successful" front man for India.
 
Modi's "defining trait is determination and an absolute commitment to success for himself and for his country", Price told IANS in an interview, adding: "I think perhaps the one defining thing about him is (not) to consider a failure as an option. That is something successful leaders have in common."
 
He said that Modi was a remarkable leader "who deserves to be compared alongside some of the greatest in the world" in the way he focussed on what he had to do to win the April-May 2014 general election for the BJP.
 
Price, who has presented a copy of his book to Modi, said it is not often that there is a political leader who changes the weather and manages to achieve quite a radical transformation in his country's politics.
 
"It is a bit early to say whether that has been achieved. Over the next few years we will discover whether that is the case. But the potential is there," said Price, a former BBC correspondent and a former director of communications of the Labour Party.
 
"He has been very successful as a frontman, if you like, for India. There is real eagerness not only to know about him as a man but also about India. It has come at a time when people are looking at India as a powerhouse. Its prospects for growth seem to be very encouraging," Price said.
 
He said that Modi's single biggest challenge was "to maximise the potential of India as a growing economy".
 
The author, who had talked to Modi "at length" for the book, said the BJP leader was determined to be a successful as prime minister.
 
"I have to say this is a foreigner's perspective but I think Mr. Modi is his own man and he will make his own decisions based on what he thinks is right for the country," said Price, who is a writer, broadcaster and commentator.
 
Price said that Modi, like any good politician, knows that secret to success is in changes that affect the everyday lives of the people.
 
Thus, while Modi had spent a long time as a "pracharak" of the Rashtriya Swayamsevak Sangh, the BJP's ideological mentor, he has made great efforts in recent years to position himself as a development-oriented politician. He said that the RSS, like many other organisations in a democracy, has a right to influence politicians.
 
"Everybody has a right to try to influence politicians and governments and I am sure the RSS is not alone in that. How much he will listen to them and will be influenced by them, only time will tell," Price noted.
 
He also said that whether one agreed with Modi's politics or his ideological background, he deserved the victory in the last general election.
 
"Whether it is oratorical skills, the ability to inspire his followers, the communication skills, the organisational skills - all those elements go together to make him a successful politician. Modi has so many of those qualities," Price told IANS.
 
He said it was possible for the BJP to do better in the 2019 general election, but this would depend on the performance of the Modi government and the circumstances at the time.
 
"But if you look at (February assembly) election result in Delhi, it shows that the BJP bandwagon does not roll on relentlessly and can be stopped. It will also depend on whether the other parties, the Congress in particular, learn the lessons of their mistakes," he said.
 
(The Congress won a mere 44 seats in the general election to the BJP's 282 of the 543 elected seats in the Lok Sabha. The Congress was wiped out in the Delhi assembly polls, with the three-year-old Aam Aadmi party winning 67 of the 70 seats and the BJP the remaining three.)
 
Price said he wrote the book as people outside India did not know much about Modi before his elevation as prime minister.
 
"One of the reasons I wanted to write a book was that there was real appetite outside India to know more about him, his background," Price said, adding he wanted to to bring the West up-to-date about Modi, his ambitions for India and why he did so well in the campaign.
 
Price also said Modi was a "new guy on the world stage" and was making "a big impression."
 
"You saw (this) in the way he was received in America, in Australia. He really (has) drawn attention to himself, asked people to look at India afresh as a result of his election."
 
Price also noted that there had been a series of visits by foreign leaders to India since the Modi government assumed office last May, adding that the attention given by US President Barack Obama to India has been "quite exceptional."

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COMMENTS

CHANDU CHARTIST

2 years ago


YAHA DI HUI LINK DEKHE MODI JAISA JOOTHA INSAN KOI NAHI



https://http://www.facebook.com/video.php?v=97660953902...

CHANDU CHARTIST

2 years ago


YAHA DI HUI LINK DEKHE MODI JAISA JOOTHA INSAN KOI NAHI



https://http://www.facebook.com/video.php?v=97660953902...

LALIT SHAH

2 years ago

Champooso ka tota nahi
How many uneducated in Gujarat ?
No light water health services in Gujarat where Modi rule 13 years
Author must visit Gujarat each and every part and study actual vikash model than write real story of FEKU land broker

SEBI provides ‘exit order’ to Jaipur Stock Exchange

Jaipur Stock Exchange Limited is the eleventh Stock Exchange to exit under this policy of SEBI

 

SEBI passed an Order on 23 March 2015 providing the exit to Jaipur Stock Exchange Limited (JSEL). SEBI vide circular dated 30 May 2012 had issued the Guidelines for exit of stock exchanges. This contained details of the conditions for exit of de-recognised/non-operational stock exchanges including treatment of assets of de-recognised/non-operational exchanges and a facility of Dissemination Board for companies listed exclusively on such exchanges, while taking care of the interest of Investors.
 
JSEL is the eleventh Stock Exchange to exit under this policy of SEBI.
 
The SEBI Order noted the fact that JSEL had provided funds for investors by saying, “In compliance with the condition mentioned in para 5(d), JSEL has contributed an amount to Rs10,00,000/- through RTGS dated 21 February 2015 towards IPEF (Investors Education and Protection Fund).”
 
In giving permission to JSEL, the SEBI Order observed, “From the valuation report and undertaking dated 13 February 2015 of JSEL, it is observed that all the known liabilities have been brought out and that there is no future liability that is not known as on date. I note that JSEL has substantially complied with the conditions contained in Exit Circular, 2012 subject to its undertakings. I, therefore, am of the view that it is a fit case to allow exit to JSEL in terms of clause 8 of the Exit Circular, 2012.”
 
SEBI said that its order on JSEL shall come into force with immediate effect. A copy of the order shall be forwarded to the Income Tax Authorities and the State Government of Rajasthan and the Ministry of Corporate Affairs intimating the exit of Jaipur Stock Exchange Limited and for appropriate action at their end as per applicable laws.
 

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Infocare Infra directed not to mobilise funds from the public by a SEBI Order

The company was engaged in fund mobilising activity through issue of Preference Shares and NCDs to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956 and provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008

 

SEBI passed an interim order dated 19 March 2015, directing that Infocare Infra Limited (IIL) shall not mobilise funds from the investors. Further, the company and its directors shall not dispose off any of the properties of the company and shall not divert any funds raised from the public. The company and its directors and promoters are also prohibited from accessing the securities market.
 
Debenture Trustee,  Pawan Kumar Agarwal, is prohibited from continuing with his present assignment as debenture trustees in respect of the issue of NCDs of the company and also from taking up any new assignment or involvement in any new issue of debentures, etc. in a similar capacity, according to the SEBI Order.
 
The company was engaged in fund mobilising activity through issue of Preference Shares and NCDs to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956 and provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.
 
SEBI had received a complaint on 2 July 2014 (forwarded by the Reserve Bank of India vide letter dated 25 June 2014), alleging mobilisation of funds by Infocare Infra Limited (IIL). SEBI had also received a letter dated 22 July 2014, from the Criminal Investigation Department, Government of West Bengal, stating that IIL "has collected huge money from good number of investors." SEBI began its investigation by writing to the company and by looking up the data on the MCA 21 Portal.
 
From its investigation, SEBI observed, “it will follow that since the Offer of Redeemable Preference Shares and Offer of NCDs are public issues of securities, such securities shall also have to be listed on a recognized stock exchange, as mandated under Section 73 of the Companies Act, 1956. In this regard, reference is made to Sections 73 of the Companies Act, 1956, of which sub-Sections (1), (2) and (3) are relevant for the instant case…” Clearly, the company had not followed proper procedure required for a public issue.
 
The SEBI Member in his Order said, “I am of the view that IIL is prima facie engaged in fund mobilising activity from the public, through the Offer of Redeemable Preference Shares and Offer of NCDs and as a result of the aforesaid activity has violated the aforementioned provisions of the Companies Act, 1956 (Section 56, Section 60 read with Section 2(36), Section 73, Section 117B) read with the Debt Securities Regulations. From the material available on record, it is observed that IIL created a charge for an amount of Rs11.40 crore and appointed Pawan Kumar Agarwal as Debenture Trustee for the Offer of NCDs by that company. Based on the material available on record, I find that Pawan Kumar Agarwal has acted as unregistered Debenture Trustee, which amounts to violation of the provisions of the SEBI Act read with the Debenture Trustee Regulations.”
 
The SEBI Order adds that the company and its directors should show cause as to why they should not be compelled to refund the entire money collected by them from the
public.
 
The SEBI Order concludes by saying that the Order is without prejudice to the right of SEBI to take any other action that may be initiated against IIL and its director and debenture trustee.
 

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