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Scam 1992

Chalanachithram.com DB » New TF Industry Related » Archive through November 23, 2020 » Scam 1992 « Previous Next »
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Speaker
Hero
Username: Speaker

Post Number: 19465
Registered: 01-2019

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Posted on Sunday, November 22, 2020 - 11:03 pm:       

Bombay Club ------ November 10, 1993, eight industrialists – Lala Bharat Ram, Lalit Mohan Thapar, Hari Shankar Singhania, M V Arunachalam, B K Modi, C K Birla, Rahul Bajaj and Jamshyd Godrej – handed over a note to this effect to Dr Manmohan Singh, the then finance minister. The note welcomed competition in the market but urged the government to take steps “to enable them [Indian businesses] to play their rightful role in the industrial development of the country”.

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The government took the Bombay Club very seriously. So, in the mid-1990s, a few years into the new economic order, the government allowed Indian companies to raise preference shares of up to 25 per cent of their issued capital. Since such shares do not carry any voting power, this was a good way for Indian businessmen to raise money without giving up control. The government justified the protectionist move on the grounds that it provided a level playing field to Indians. It also admitted that it had received numerous representations from industry for this relief.

And when businessmen complained that they were being dumped by their partners from abroad because they weren’t needed any longer, the government made it mandatory for foreign companies to get a “no-objection certificate” from their local partners before they could go solo. There was some abuse of this provision as well; old technical collaborations were dusted out by many businessmen because this was easy rental income. The provisions have been diluted in the last few years.

Fears were also expressed that foreign institutional investors had come to dominate the market — the indices go up when they buy and go down when they sell. Everybody now realises that the global fund flow is very efficient and will always get diverted to markets that offer the best opportunities. The principal complaint of the Bombay Club was the rapid reduction in import duties. Arun Bharat Ram of SRF remembers meeting top government functionaries, including economist Raja Chelliah, with evidence that there was “negative protection” for domestic producers of nylon tire cord.

Twenty years later, hardly any businessman or industry association lobbies for protection. The expression “level playing field” has fallen into disuse. The last such attempt was some years back when domestic engineering companies, private as well as state-owned, wanted to block the entry of low-cost Chinese machinery that had become popular with power producers; but it met with little success. The only protection that industry seems to be seeking these days is from the free trade agreements that the government wants to sign. Otherwise, the debate is dead.
There is no reality as such..there are only Perceptions..n some do not believe in any perceptions..they only have clarity of thought..

https://youtu.be/O9-ffFzCH3Y

https://youtu.be/MSxlRhqXSRI
 

Speaker
Hero
Username: Speaker

Post Number: 19464
Registered: 01-2019

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Votes: 0 (Vote!)

Posted on Sunday, November 22, 2020 - 11:01 pm:       

Read about the most infamous Bombay Club.. It could be as well called as gujju Bombay Club.. Which had a major role in drowning harshad Mehta into being a scamster.....

https://www.google.ca/amp/s/wap.business-standard.com/articl e-amp/opinion/bhupesh-bhandari-once-there-was-the-bombay-clu b-111070800048_1.html
There is no reality as such..there are only Perceptions..n some do not believe in any perceptions..they only have clarity of thought..

https://youtu.be/O9-ffFzCH3Y

https://youtu.be/MSxlRhqXSRI
 

Siloan
Legend
Username: Siloan

Post Number: 71579
Registered: 03-2008

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Posted on Sunday, November 22, 2020 - 09:49 pm:       

gujju aakul malla telungu aakul
ni debessai
 

Speaker
Hero
Username: Speaker

Post Number: 19459
Registered: 01-2019

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Posted on Sunday, November 22, 2020 - 03:43 pm:       

Bombay Club Vaari sowjanyam, Chandraswamy, PV Narsi gaadi nirvaahakam
There is no reality as such..there are only Perceptions..n some do not believe in any perceptions..they only have clarity of thought..

https://youtu.be/O9-ffFzCH3Y

https://youtu.be/MSxlRhqXSRI
 

Pawanfanz
Side Hero
Username: Pawanfanz

Post Number: 7697
Registered: 02-2013

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Posted on Sunday, November 22, 2020 - 03:11 pm:       

Godse desh bakth aynappude truths chachi poyayi Desam lo dongala rajyam idi
 

Wellsfargo
Hero
Username: Wellsfargo

Post Number: 13808
Registered: 06-2012

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Posted on Sunday, November 22, 2020 - 03:08 pm:       

enti Harshad gaadu good and PVNR bad aa...

ee gujju galla tainted fellows andarini clean image ivvadaniki try chesthunnara

next in line Nirav Modi and Mehul choksi?
God always intervenes. Wondering how he will do it before it's too late.

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