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When Insurance Does Not Protect

Recent cases from the consumer courts should be eye-opening for consumers


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Will Tata Zest Change the Game?

Can Tata Motors shed its low-quality tag and deliver a blockbuster with its new car?

 

The  big buzz in Indian motoring circles, over the past few weeks, has been the trial drives of the new Tata Zest. The reviews are based on controlled exposure and drives, and a high-pressure publicity campaign. An outpouring of praise, therefore, is to be expected. As of now, what the reviews don’t tell us, however, is this:


•     Price (and discounts) for this new sub-four-metre sedan. (Educated guess—much cheaper than the Maruti Suzuki D’Zire / Honda Amaze)


•     Warranty and after-sales service. (Based on today’s trends, this should be four years and 60,000-80,000km)


•     Improvements in after-sales and service. (Inputs reveal that this is a focus area for Tata)
We have been shown vast improvements in fit, finish and interiors. Naturally, this is due to Jaguar Land Rover, though colour choices seem aimed at clean-looking interiors in the long run, more than anything else.


Personally, I like Tata cars for one solid reason—safety. I look forward to crash test reports and inputs on the new cars from Tata Motors, because that is, in my estimation, the focus of the Indian automobile market of late—occupant safety.

Turbo-charger’s Role

What does a ‘turbo-charger’ do in a petrol engine (or for that matter, in a diesel engine)? To understand this better, an analogy can be found in marine engineering applications—where turbo-chargers were born. These fuel-saving devices were, and still are, known as ‘economisers’. Their configuration decides whether you get better fuel economy or better speed. On cargo ships, they are usually configured for fuel economy; but in cars, they have been configured for that extra boost. The best example of an automobile turbo-charger, in the low-priced car range in India, is the Fiat designed diesel engine, which is provided in the Maruti, Tata and FIAT cars—it behaves differently in each car.


Maruti Swift provides that turbo-boost which gets the heart racing, while in Tata Indica it is configured to provide fuel economy. In all cases, however, it adds to the cost of the diesel engine. That Tata Motors is now offering a turbo-charger/economiser option in the petrol engine of Zest can, therefore, mean only one thing—that the prices of the petrol and diesel versions will be close to each other. But, more interestingly, Tata Motors is reportedly providing a range of settings, from performance/sports versions to economy versions in their new Zest. These features, along with the automatic transmission options, should change the game in this car segment.

Battery Rickshaw

The three-wheeler battery-rickshaw revolution is rapidly evolving in all directions. From quasi public transport, providing last-mile connectivity in urban areas, to mini-goods carriers, and now personal transport configured for special needs. The great benefits are: no regulation, no registration, no parking charges and no adulterated fuel.


The latest example I saw, was from a caterer who, at an event for about 80 people, was using a cargo version battery-rickshaw to move food literally course by course. That included some desserts which needed to be handled very carefully. The body of the rickshaw had been converted into one huge insulated box and the springs had been tuned to ‘soft’.

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Ambani, Mittal, Shanghvi, Premji & Mistry own half of billionaire wealth

Mukesh Ambani, Lakshmi Mittal, Sun Pharma's Dilip Shanghvi, Wipro's Azim Premji and Pallonji Shapoorji Mistry, together control $85.5 billion or about Rs5.24 lakh crore in personal wealth, accounting for 47.5% of India's total billionaire wealth

 

India's top five billionaires led by Reliance Industries Ltd (RIL) chairman Mukesh Ambani collectively control $85.5 billion (about Rs5.24 lakh crore) in personal wealth, accounting for nearly half of the country's total billionaire wealth, a new study said.

 

According to the analysis by wealth research firm Wealth-X on India's richest individuals, Mukesh Ambani remains the richest man in the country with an estimated net worth of $24.4 billion (about Rs1.49 lakh crore).

 

Ambani is followed by steel tycoon Lakshmi Mittal, drugmaker Sun Pharma's Dilip Shanghvi, IT giant Wipro's Azim Premji and Tata Sons' shareholder Pallonji Shapoorji Mistry, among the top-five wealthiest individuals from India.

 

"The five billionaires collectively control $85.5 billion in personal wealth, accounting for 47.5% of India's total billionaire wealth," Wealth-X said.

 

Observing that "entrepreneurialism is the key to attaining financial success in the world's largest democracy", the study further said that these five entrepreneurs have made their fortunes through their businesses in sectors such as oil and gas, steel and pharmaceuticals.

 

In comparison, India's wealthiest actor, Bollywood star Shah Rukh Khan, is worth $600 million, while Indian cricket legend Sachin Tendulkar, who retired in November 2013, has a personal fortune of at least $160 million, it added.

 

Through RIL group, Ambani owns 'Mumbai Indians', a team in the Indian Premier League (IPL) cricket, reportedly the most valuable team at around $112 million, the report added.

 

Steel tycoon Lakshmi Mittal takes second place on the list with a personal net worth of $17.2 billion. Mittal is the chairman and CEO of Arcelor Mittal, the world's largest steel making company. Mittal, 64, owns 38% of ArcelorMittal and a 33% stake in the Queens Park Rangers Football Club.

 

Sun Pharmacuetical's Dilip Sanghvi is the third wealthiest Indian on the list with an estimated net worth of $15.63 billion, followed by Wipro Chairman Azim Premji ($14.9 billion) and Tata Sons Shareholder Pallonji Shapoorji Mistry ($12.7 billion).

 

All five entrepreneurs have also established philanthropic foundations in support of causes ranging from education, health, environment, social welfare and community development, the report said.

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