CHENNAI : The CBI on Tuesday raided the residences of former Union Minister P. Chidambaram and his son Karti Chidambaram here in connection with the grant of FIPB approvals when he was the Finance Minister. Chidambaram has termed it vendetta politics and declared the raids will not stop him from being critical of the government.

A team of 11 CBI officials entered the Haddows Road residence of Chidambaram on Tuesday morning and carried out searches.

According to sources, 17 other locations in Chennai, Karaikudi, Delhi and Noida were also searched by CBI sleuths in this connection.

The early morning raids at the former Finance and Home Minister’s residence were conducted in connection with Foreign Investment Promotion Board (FIPB) clearances given to INX Media (now called 9X Media) when it was run by Peter and Indrani Mukherjea, and Chidambaram was the Finance Minister.

Separate Central Bureau of Investigation (CBI) teams conducted searches at more than 17 locations in Chennai, Karaikudi, Delhi and Noida besides Mumbai and Gurugram.

The CBI raids come close on the heels of an Enforcement Directorate probe into the affairs of Karti Chidambaram who they allege was involved in FEMA violations and money laundering.

According to the investigating agency allegations, Karti was linked to a firm, Advantage Strategic Ltd, whose name cropped up in various cases.

Chidambaram has said there are no allegations against him or his son.

“The government, using CBI and other agencies, is targeting my son and his friends. The government’s aim is to silence my voice and stop me from writing, as it has tried to do in the cases of leaders of opposition parties, journalists, columnists, NGOs and civil society organizations. All I will say is, I shall continue to speak and write.”

In a statement issued on Tuesday, a little after the raids began, Chidambaram said “FIPB approval is granted in hundreds of cases. The five Secretaries who constitute the FIPB, the officials of the FIPB Secretariat and the competent authority in each case are the public officials. There is no allegation against any of them. There is no allegation against me.”

Terming it vendetta politics, the former Finance Minister said, “every case was processed according to law and approval was granted or refused in accordance with the recommendations of the FIBP consisting of five Secretaries to the Government of India.”

Karti Chidambaram has maintained that he will come out clean as there was nothing to hide. He said he had cooperated with probe agencies and has paid all his taxes.

“The case against me has been foisted purely out of political reasons and vendetta. Nothing can be proven against me and I have not done any crime. It has been done mainly to muzzle my father’s voice against the government,” he said.

Congress legislative leader in the Tamil Nadu Assembly, Karaikudi Ramaswamy visited Chidambaram’s residence and later told media persons that there was nothing in the case that was being made out.

“It is just a ploy to discredit and destroy the reputation and image of the Congress party,” he said.

The agency’s move comes a day after it filed an FIR against Karti Chidambaram and Indrani Mukherjea in the case.

The case — registered under the Foreign Exchange Management Act (FEMA) in 2010 — involves foreign investment by three Mauritius-based companies in INX Media.

The ED had earlier issued a show-cause notice to Karti Chidambaram and INX Media for alleged FEMA violations of over Rs 40 crore.

The ED also issued a similar notice to a Chennai-based firm, Vasan Health Care Private Limited, for alleged forex violations of over Rs 2,000 crore.

“The total amount of contravention identified on different counts and found to have been committed by Advantage Strategic Consulting Private Limited in the sale transaction of shares of Vasan Health Care to overseas investors is around Rs 45 crore,” the ED notice said.

“Show-cause notice has been issued to Advantage Strategic Consulting Private Limited, its directors and also to Karti Chidambaram who appears to be the controller and ultimate beneficiary in these transactions,” it added.

(With Inputs from IANS)

NEW DELHI : Making it clear that it was unwavering in its support on the Palestine issue, India on Tuesday strongly backed a political solution to the problem through sustained dialogue and expressed the hope for an early resumption of talks between Palestine and Israel.

Prime Minister Narendra Modi reaffirmed India’s stand after a meeting with Palestinian President Mahmoud Abbas, who had on Monday sought India’s help to solve the Palestine issue with Israel.

After the talks, India and Palestine signed five agreements including on cooperation in agriculture, IT and electronics, health and youth affairs and sports.

“We had extensive exchange of views on the situation in West Asia and the Middle East peace process,” he said while jointly addressing the media with Abbas following delegation-level talks here.

“We agreed that the challenges in West Asia must be addressed through sustained political dialogue and peaceful means,” he said.

“India hopes for early resumption of talks between Palestinian and Israeli sides to move towards finding a comprehensive resolution.”

On Monday, addressing a gathering at the India Islamic Cultural Centre here, Abbas said that he would seek the help of Modi’s good offices in reaching a solution to the Palestinian issue which would help in the fight against terrorism in that part of the world.

Modi said on Tuesday that India has been “unwavering in its support of the Palestinian cause”.

“And, we hope to see the realisation of a sovereign, independent, united and viable Palestine, co-existing peacefully with Israel,” he said, ahead of his visit to Israel scheduled for July this year.

He also said that India would continue to extend cooperation in building infrastructure in Palestine and contribute to improving the lives of its people.

“We will continue to support the development and capacity-building efforts of Palestine,” he said.

The Prime Minister said the five agreements signed following Tuesday’s talks “are reaffirmation of our intent to strengthen cooperation in this direction”.

Modi also referred to a flagship techno-park project India was undertaking in Ramallah and said particular emphasis was being laid on the areas of information technology, youth and skills development.

He also called for enhancing cultural exchanges between the two sides and sought the participation of the Palestinian people in the International Yoga Day to be observed next month.

On his part, Abbas expressed his appreciation for India’s continued support and solidarity for the Palestinian cause on international forums and said he would work to deepen the bilateral relationship.

He said he updated Modi on his meeting with US President Donald Trump regarding the Middle East peace process and his talks with his German and Russian counterparts Frank-Walter Steinmeier and Vladimir Putin, respectively, on the issue.

Abbas also condemned terrorism in all its forms and manifestations and voiced support for all regional and international efforts to fight this menace.

Earlier in the day, Abbas was accorded a ceremonial welcome at Rashtrapati Bhavan here following which he paid tribute to Mahatma Gandhi at Rajghat.

External Affairs Minister Sushma Swaraj called on the visiting dignitary and discussed issues of bilateral interest.

Abbas arrived here on Sunday on a four-day visit to India. This is his fifth visit to India and the third state visit after his visits in 2008 and 2012.

He is being accompanied by a delegation comprising Palestinian Deputy Prime Minister Ziad Abu Amr, Foreign Minister Riad Malki, Diplomatic Advisor Majdi Khaldi, Presidency Spokesperson Nabil Aburdeineh and Palestine’s Chief Judge Mahmoud Habbash.

(With Inputs from IANS)

With the Supreme Court refusing to fast-track it and pushing for out-of-court negotiations, it is evident no legal verdict can resolve the vexed Ram Janmabhoomi-Babri Masjid dispute.  Way back in 1993, the apex court had indicated that any court verdict is fraught with risks. Although much water has flown down the Sayaru since then, Ayodhya remains a dispute that cannot afford a loser.  A case connected with the sentiment and security of all Indians cannot be ruled upon as an ordinary title dispute. Any solution that entails a winner and a loser will be no solution. Such a verdict is bound to trigger passions and destroy communal harmony.  Suppose the court rules in favour of Muslims, Hindus will not take it lightly. And if it is the other way, it will create bitterness and insecurity among Muslims. The resultant jubilation among Hindus will only further vitiate the precarious communal equations.  So, it is a national duty for all well-meaning Indians to make all-out efforts for a win-win solution. Despite the odds, India has no choice but to push for an amicable solution that guarantees the building of a grand Ram temple without hurting the sentiment of the Muslim community.  Such a solution calls for major compromises and can emerge only when a spirit of give-and-take prevails.  For this, Muslims must concede that this disputed land has a lot of religious significance for the Hindus. On their part, the Hindus should show a lot of restraint and not indulge in anything that will trigger any feeling of insecurity and alienation.  This is no mean challenge and surely there is no shortcut. Of the many proposals being fiercely debated in social media, I see a lot of hope in a 2003 formula envisaged by spiritual guru Sri Sri Ravi Shankar.  That the three-option proposal is still relevant speaks a lot about its depth.  Unlike others, Sri Sri has always advocated a “consent-of-all” while pushing for a Ram Mandir. He often emphasizes that prolonging the issue is not in the interest of the nation and it will fuel fundamentalism.  His proposal can offer the Muslims an opportunity to earn goodwill and save it from further political isolation.  His preferred option of Muslims gifting to the Hindu community the place where the makeshift Ram temple stands and withdrawing all cases over that piece of land which is holy to millions of Hindus is prefaced with the offer of the majority community assuaging the Muslims about past hurts — ostensibly referring to the demolition of the Babri Mosque.  In case of this proposal not finding favour, he suggests the gifting of the place by the Muslim community to Hindu saints, who in turn help build a grand mosque in Faizabad.  And as a last resort, he talks about Parliament enacting legislation that will provide for gifting the Ram Janmabhumi to the Hindu community and maintaining the status quo of all other places of worship.  This should also warm the heart of the Muslims as such legislation will safeguard the mosques in Kashi and Mathura and prevent rabble-rousing over thousands of temples allegedly destroyed by Moghul invaders.  Keeping in mind Sri Sri’s impartial approach, it will be in the interest of the nation, and particularly of the Muslim community, to let him take the lead in hunting for a win-win deal. He has a track record of brokering truce even in unlikely conflicts. Will the Muslims of India sieze the proposal with a big heart?  (M. Rajaque Rahman is a former journalist and author associated with Art of Living. The views expressed are personal. He can be reached on rajaque@gmail.com)

The Hague India on Monday demanded before the International Court of Justice (ICJ) that Pakistan annul the death sentence of alleged spy Kulbushan Jadhav and see that he was not executed as his trial was held under “farcical” circumstances in violation of the Vienna Convention.
  “I urge the ICJ to ensure that Jadhav is not executed, Pakistan reports to this court that the action (of not executing him) is taken and that no action is taken that might prejudice the rights of India in the matter of Jadhav,” noted lawyer Harish Salve submitted in his over hour-long presentation before ICJ President Ronny Abraham in the Hague.  The ICJ had last week stayed the execution of Jadhav on a petition by India, which approached the UN court after 46 years on an issue with Pakistan.  The former Indian Navy officer was awarded the death sentence by a Pakistani military court last month, a year after he was arrested on espionage charges. India says Jadhav has been kidnapped and framed. Islamabad has rejected 16 Indian requests for consular access to Jadhav, who is held at an unknown prison in Pakistan.  The brunt of Salve’s argument was that the entire matter of arrest, chargesheet and trial of Jadhav were all done in violation of the UN Charter and Vienna Convention in farcical circumstances and on concocted charges as Jadhav was not given legal assistance to defend himself.  Salve, who led the Indian legal team at the Hague-based ICJ, said the matter was “grave and urgent” and hence India approached this court which took up the case “at such a short notice”.  The Indian lawyer told the court that Jadhav was kidnapped from Iran on March 16, 2016, brought to Pakistan, presented as an alleged Indian spy and confession was extracted in custody before a magistrate. He was incommunicado and the trial was also held incommunicado.  He urged the ICJ President to take note of the farcical nature of the circumstances of the military court.  Salve said the provisions of the Vienna Convention recognised that any prisoner has a right to be tried by an independent tribunal as established by law and he should be tried in his presence and defended by legal aid assigned to him. In Jadhav’s case all the basic provisions of human rights were “thrown to the wind”, he said.  The facts presented by India establish the violation of all principles of UN charter and Vienna Convention because of the nature of the trial which destroyed any credibility or sanctity of the army court’s decision sentencing him to death, he said.  Salve cited three past similar cases in which the international court had intervened. These cases include Paraguay versus the US in which the court decided that the American government needed to take steps to give rights of access of a Paraguayan national.  In Germany versus the US, Salve said, the court held that execution of a German national was “an irreparable damage to justice”. He also referred to a case between the US and Mexico in which lives of 54 Mexicans were at stake as they faced execution.  After the court adjourned for a three-hour break to hear Pakistan’s arguments, Salve told the media outside that he expected India to be provided justice by the court.  Earlier, Deepak Mittal, Joint Secretary, of the Pakistan, Afghanistan, India Desk at the Ministry of External Affairs, told the court in his opening remarks that there was a fear that Jadhav may be executed soon even before the decision of the UN court.  “Jadhav has not got the right to get proper legal assistance and the right to consular access. There is an immediate threat to him to be executed even before a decision is passed.”   “India learnt from press reports that the death sentence was awarded to Jadhav on the basis of an alleged confession. Pakistan has not provided the chargesheet, any documents on the case despite repeated requests.  “It is clear that Jadhav has been denied of his right to seek legal counsel. Jadhav’s parents have applied for visa to travel to Pakistan which has fallen on deaf ears.”  V.D. Sharma, Joint Secretary (Legal and Treaties) in the MEA, said Pakistan had failed to comply with all its legal obligations by denying consular access to Jadhav since his arrest in March 2016.  Sharma also urged the court to restrain Pakistan from “giving effect to the sentence awarded by the military court” and to direct it to annul its decision.  The day-long hearing, which began on Monday morning, involves two sessions of an hour-and-a-half each to India and Pakistan to make their cases.  Pakistan’s session is to begin in the afternoon.

NEW DELHI : The Hague-based International Court of Justice (ICJ) is expected to hear on Monday the case of Kulbhushan Jadhav, the alleged Indian spy sentenced to death by a Pakistani military court.  An Indian legal team led by former Solicitor General Harish Salve is already in the Hague.   “We may have a hearing on Monday…,” Salve said, after India won the stay over Jadhav’s death sentence at the ICJ last week.  India is scheduled to first argue its case. This would be followed by arguments from the Pakistan team led by Attorney General Ashtar Ausaf.  The Indian team is expected to focus on the violations of the Vienna convention by Pakistan on the issue of denying consular access to Jadhav, and on the lack of transparency in the Pakistani military court, which India said was “illegal”.  India moved the ICJ last week to save Jadhav after Pakistan denied consular access despite 16 requests.  Pakistan has said the Indian move to approach ICJ was an attempt to divert attention from “state-sponsored terrorism in Pakistan” and that it was analysing the ICJ’s authority in the matter.

NEW DELHI : The Central government on Monday told the Supreme Court that if the latter invalidates the men-centric triple talaq that is discriminatory to Muslim women, then it would bring a new divorce law that would be fair and equal to both men and women in the community.

As Attorney General Mukul Rohatgi argued against triple talaq and stressed the need to strike it down, the five judge constitution bench headed by Chief Justice Jagdish Singh Khehar asked him if this is done, then what will happen to Muslim men who went to end their marriage.

“If we accept that giving unfettered rights to a husband is bad and we strike down triple talaq, then where will Muslim men go for divorce,” asked Justice Uday Umesh Lalit who, along with the CJI, Justice Kurian Joseph, Justice Rohinton Fali Nariman and Justice S. Abdul Nazeer are on the constitution bench.

Without losing a moment, Rohatgi told the bench that if they strike down all three practices – triple talaq, nikah halala and polygamy, then the government will bring a new law.

At this, Chief Justice Khehar said that the top court was not just the “guardian to the Constitution but also that of the Minorities Act”.

At the outset of the hearing, the Attorney General urged the court to examine not just the validity of the triple talaq vis-a-vis the Constitution but also that of the nikah halal and polygamy too.

However, the court, citing the limited time that is available, said that as of now, it would focus on the validity of triple talaq, leaving other two issues for the future.

In the course of the hearing pointing to the inertia in the evolution of the Muslim Personal Law, Rohatgi said that as far as Hindus were concerned, various steps were taken to bring their laws in conformity with the Constitution but that has not happened with Muslims, who had a Shariat Act in 1937, then in 1939 and then some change in 1986 in the wake of Shah Bano case.

The court was apparently unimpressed when he said that he cited the Constitution’s Article 14 and 15 to highlight the discrimination being faced by the Muslim women, noting that these articles are all against the state.

Terming his position “very difficult”, the court said that attempts to invoke Article 14 without the state was a “white wash”.

As Rohatgi emphasised on gender equality of Muslim women including with their counterparts in other religions and in other Islamic countries, the court said that he was talking of gender equality, equality between religions and equality between the people of different countries and in this way, all marriage laws should go and civil marriage was the only course.

The court said that marriage as an institution is crystallised by religion, drawing an objection from him and inviting a comment from the bench that if marriage was not rooted in religion, then what was it.

Appearing for the All India Muslim Personal Law Board, senior counsel Kapil Sibal told the bench that the “issue is not talaq, the issue is patriarchy” or a state of society which is inherently discriminatory of this or that religion.

Describing the issue as “highly complex” which can’t be resolved easily, he referred to Hindu Code under which customs are still protected, noting that even under 2006 Hindu Succession (Amendment) Act, 2005, a father can bequeath his entire property to his son without giving anything to his daughter.

Noting that the Constitutions protects personal laws and all patriarchal societies are discriminatory, Sibal said that all law s that applies to Hindus, Muslims, and other religions must be tested on the grounds of discrimination.

Representing the government, Additional Solicitor General Tushar Mehta told the court that Islam ic practices as practised in India were not “pure Islam” but an “anglicised” form of the religion. 

(With Inputs from IANS)

Mango trees from a farmer’s orchard in Kota district of Rajasthan will now grow in the majestic Mughal Gardens of Rashtrapati Bhawan.

Four mango trees of evergreen variety – Sadabahar – from Kishan Suman’s orchards have been planted in the Mughal Gardens. This mango variety blooms round the year.

Kishan Suman’s 4 ‘bhigas’ of agricultural land has 22 mother plants and 300 grafted mango plants of Sadabahar variety for sale. These saplings are immune to major diseases and disorders of mangoes. This mango variety is a dwarf type and hence can be grown in pots. It regularly bears fruits throughout the year.

According to Suman, he had identified the variety in his orchard 17 years ago which bloomed in all the three seasons (12 months) January-February, June-July and September-October. Upon preserving and preparing the grafted mango trees, he noticed that the trees had a good growth trend and began to bear fruit from the second year of grafting. 

Suman intends to promote his mango trees during upcoming ‘GRAM Kota’, which is scheduled to be held from 24 to 26 May.

The Sadabahar Aam —as it is aptly called– is now in the process of being patented.Suman says that the plants are now being delivered to Chhattisgarh, Delhi and Haryana on a regular basis. He has also received an award at the National Innovation Foundation’s exhibition and his innovation was appreciated by President, Mr. Pranab Mukherjee. 

Goa Chief Minister Manohar Parrikar may have just managed to quell a coup.

 The Congress, fresh from its sacking of Digvijaya Singh as a central overseer, made fresh overtures to allies in the Bharatiya Janata Party-led ministry in a bid to topple the Parrikar government.

 While both the Goa Forward and Maharashtrawadi Gomantak Party (MGP), which have three seats each in the 38-member (an MLA each from the BJP and Congress have resigned) have rejected reports of a coup and the BJP on Saturday claimed the government is stable, Goa’s politics appears primed to replay its mercurial and unstable edge of the 1990-2000 decade — when the state saw 14 Chief Ministers.

 The fresh developments, during which the Congress claimed to have been in touch with several BJP MLAs and the BJP counter-claiming that 10 Congress legislators were in touch with its leadership, have, however, ended with some egg on the face of state Congress President and legislator Luizinho Faleiro.

 Faleiro’s leadership has again been challenged by a section of Congress MLAs.

 Congress sources said they had re-established contact with Goa Forward founder-member and now Town and Country Planning Minister Vijai Sardesai and two Independent MLAs in a bid to win him over.

 “His condition to joining a Congress-led government continues to be the same as it was before he joined the BJP-led formation in March. He wants Faleiro out of the decision-making hierarchy. He wanted our MLA Digambar Kamat (former Chief Minister) in charge of negotiations and as the coalition leader,” a senior party leader told IANS.

 The party official also said that efforts to topple the BJP-led coalition government had been intensified following A. Chellakumar’s promotion as Congress General Secretary in charge of Goa. 

 He was earlier an understudy to Digvijay Singh, who was unceremoniously sacked a few weeks back.

 Faleiro, a two-time Chief Minister, led the Congress campaign in the February 4 polls. But his running feud with Sardesai could have cost the Congress the opportunity to stake claim to form government despite the party emerging with 17 seats of the 40 Goa assembly seats.

 Sardesai is known to have more than cordial relations with Kamat. Both politicians have successfully partnered together in the municipal elections in Margao, a major South Goa township.

 The loyalty of Congress legislators appear to be split between Kamat and Faleiro although the Congress formally has denied any rift and Faleiro has even offered to surrender his rank for the health of the party.

 “I am ready to quit any position for the party… If even one MLA feels that we can form a government and that it (my resignation) will help and facilitate that, then I am ready to quit,” Faleiro said.

 With Congress MLA Vishwajeet Rane resigning on March 13 and becoming the Health Minister in the Parrikar cabinet, the Congress needs five MLAs to obtain a simple majority and therefore the support of Goa Forward with its three MLAs and two Independents helps the party make the numeric cut.

 But Sardesai, who led the poll campaign and canvassed for votes in the Catholic-dominated areas on an anti-BJP pitch, now claims his support to the BJP and Parrikar is unequivocal and he would never betray the latter.

 “Parrikar gave up his ministry in Delhi on our word. I will never let him down. This government is stable and it will last its full term,” he said.

 The BJP too has strongly refuted reports of a coup, with its state President Vinay Tendulkar insisting that in fact the Congress which is in turmoil.

 “This government will continue full-strength and last its full five year term,” Tendulkar told IANS.

 Asked if the Congress had tried to poach ruling alliance partners, he said: “As many as 10 Congress MLAs are in talks with us. They are willing to join the BJP.”

As India on Sunday skipped China’s Belt and Road forum to oppose the China-Pakistan Economic Corridor (CPEC), Islamabad and Beijing vowed to conclude the contentious economic route.

While opening the two-day Summit, Chinese President Xi Jinping said “all countries should respect sovereignty” and Pakistani Prime Minister Nawaz Sharif said CPEC had no “geographical boundaries”.

In a veiled reference to India, which is dead against the CPEC as it goes through Pakistan-controlled Kashmir, Sharif said the issues of CPEC “must not be politicised”.

In addition, Xi pledged about additional $14 billion for the construction of the Belt and Road project, of which CPEC is the chief component.

The grand project aims to connect Asia, Europe and Africa through a network of roads, sea links and railway lines.

New Delhi, which had been non-committal about attending the forum despite repeated offers by Beijing, made its intentions clear about skipping the event.

“No country can accept a project that ignores its core concerns on sovereignty and territorial integrity,” India’s External Affairs Ministry spokesperson Gopal Baglay said on Saturday.

The CPEC has emerged as a thorny issue between India and China, whose ties have been under strain over issues including Beijing blocking New Delhi’s bid for the Nuclear Suppliers Group and Tibetan spiritual leader the Dalai Lama’s visit to Arunachal Pradesh in northeast India.

India’s absence at the summit will certainly not be liked by Beijing, which was keen on New Delhi joining the connectivity event.

India claims Pakistan-controlled Kashmir and says allowing a road to be laid through the region will compromise its sovereignty.

However, China is continuously pushing for the corridor, which will give it access to the Arabian Sea.

“All countries should respect each other’s sovereignty, dignity and territorial integrity, each other’s development paths and social systems, and each other’s core interests and major concerns,” Xi said on Sunday.

The summit was attended by leaders of 29 countries and delegation of over 100 countries. Russian President Vladimir Putin was one of the prominent heads of state.

Sharif, who heaped praises on the project, said the CPEC was open to all the regional countries.

“Let me make it very clear that CPEC is an economic undertaking open to all countries in the region. It has no geographical boundaries. It must not be politicized,” he said here on the opening day of the event.

Sharif said the Belt and Road “rejected the encirclement for any country. It is about connectivity. It is about emancipation.

“OBOR belongs to all of us, those who are participating and those who are not as yet.”

Of the six corridors of Belt and Road, to New Delhi’s interest is the Bangladesh-China-India-Myanmar route.

Book             :  RISE LIKE A PHEONIX — SCRIPTING CORPORATE TURNAROUNDS

Author          :  PRADIP CHANDA.

PUBLISHER  :  Sage Publishing.

Pages            : 171.

Price              : Rs 395

Scripting a company’s turnaround is no child’s play. And the task of a ‘Turnaround Management Consultant’ is no walk in the park. The biggest question to be considered is whether a turnaround effort is worth the blood, sweat and tears. The book — RISE LIKE A PHEONIX : SCRIPTING CORPORATE TURNAROUNDS — is authored by Pradip Chanda, whose corporate career has spanned four decades including twenty years as CEO. 

His core competency has been the ability to conceptualise and champion clear business strategies while maintaining focus on achieving operational results. The signs of stress often begin as ripples in nooks and crannies below the senior management’s radars. Alarm bells start ringing when the market share charts keep going south, sales drop and the cash inflows become tighter. Knee jerk reactions follow. 

Data based reasoned decision-making becomes the first casualty. Deep discounting destroys carefully nurtured brand positioning. Costs are indiscriminately cut, processes suffer, quality issues multiply and customers cancel orders. Jobs are threatened, good people resign and others begin looking for jobs. Disruption, which everybody has been talking about, seems to have caught the company with its pants down. 

The urge to invite strategy consultants to chart out paths for restructuring, revitalising, renewing or reinventing the company, becomes strong. The consultants will focus on strategy reformulation and prescribe a silver bullet to cure all. Most of these solutions are resource hungry. A cash strapped demoralised organisation is rarely ready to fire the silver bullet, no matter how potent it sounds. 

Such a company has to first go through a painful turnaround process to restabilise and prepare to launch a renewal programme. It has to find resources from within along with innovative uses of existing (often neglected) assets, use cost management as a strategic tool to enhance competitiveness, embark on short term strategic initiatives to revive the company’s morale and confidence in formulating a viable and sustainable business model. 

To the turnaround manager, this internal personality crisis is the biggest challenge. If a company is to revive, a change in its personality is the starting point. The challenge lies in integrating the work force into the mainstream. 

Chanda became President and CEO of Gramaphone Company of India Ltd better known as HMV at the end of 1985 when its accumulated losses had completely wiped out its net worth. His priorities pertained to renewal, cost management and funding the renewal. 

The renewal process begins with sharp focus on immediate positive, revenue multiplying, activity involving as many people as possible. The company can move beyond a turaround phase only when a sustainable business model is ready for implementation. 

A game plan was evolved that gainfully utilised over 90 per cent of the workforce. It was profitable, cash came in before production, the factory became a beehive of activity and large quantities of dead inventory was recycled. The company was back in business. Exploitation of its assets over the years has made it again the number one music company. 

Chanda also took up the challenge of turning around the BFT or the Bharat Floorings and Tiles which was started way back in 1922. The next decade from 1930-40 may well have been called the renaissance decade. As WW II gathered momentum, the government diverted cement to defence installations. BFT tiles deprived of their basic raw material had to almost close down. 

Almost all turnarounds require an asset utilisation strategy. The critical needs may vary from company to company but will centre around acquiring new technology, upgrading design and research capability, capacity building often requiring additional equipment, revamping the organisation by rightsizing, again at a cost, retraining the existing workforce, hiring new talent and promoting the products and services on offer. 

An asset utilisation strategy is the only means available to an under performing company to generate the cash flow in the short term to tackle any of the needs mentioned. The first task at BFT was to audit the assets. The next big task was to get a fix on BFT’s positioning in the market and see if this can be leveraged to sustain a turnaround attempt. 

Considering the nature of its manufacturing process, the author believed BFT was destined to be a niche player. The question was which niche? In this business getting an order was a time consuming exercise. It does not need a genius to figure out the more balloons or quotations BFT has in the air, the greater chance of establishing a steady flow of orders. 

To begin with BFT needed to define the universe of architects in the Mumbai metropolis, its biggest market. It is now a national brand extending its reach to all the major cities in the country. The company has signed up for ISO certification to ensure quality adherence in all its functions prior to embarking on a ambitious capacity building programme which includes setting up production units in other parts of the country and perhaps one in South East Asia. 

The author maintains that the core values of a company are imperative to win with grace. In this context Coca Cola has retained its appeal through half a dozen generations. It emerged as the number one brand of soft drinks once its centre of excellence moved from proprietary ‘cure all’ medicine category at its inception in 1886 — to a strong customer focus. The stable Coca Cola company has more than 400 brands and variants selling in 180 odd countries. 

Henry Ford celebrated his 60th birthday in 1923. With sales exceeding two million units, Ford accounted for almost half the sales of motor cars in the world. The author emphasises that businesses do not fail but people do. 

In this context the author specifically refers to the ouster of the Ambassador car, dominating the Indian roads till the late 1990s. He has also dwelt on the building blocks particularly unlocking the value of under-utilised assets. 

Without growth many a turnaround would end up as an illusion. Chanda’s book is a must read, lucid and gripping for its valuable insight about a disruptive scenario. It seeks to sensitise those striving for a turnaround about the doable action plan and strategies.