ECONOMY

Monthly Archives: FEBRUARY 2019


WHAT'S IN A NAME
Bakery in Bengaluru covers 'Karachi' on signboard following protests
23.02.19 - Team PT
Bakery in Bengaluru covers 'Karachi' on signboard following protests



An outlet of the Karachi Bakery in Bengaluru covered up the word ‘Karachi’ on its signboard on Friday after a mob protested against the name.

According to Scroll, some people gathered at the Indiranagar outlet of the popular Karachi Bakery on Friday evening to demand that it pull down its signboard. The Bengaluru Police Control Room confirmed to Scroll.in that it had received a distress call on Friday evening in connection with a ruckus at Karachi Bakery in Indiranagar.

Subsequently, photos showing the word "Karachi” covered up on the signboard and an Indian flag displayed at the bakery started making rounds on social media.
 
Other Bengaluru outlets of the Hyderabad-based company have been receiving threatening calls since February 17 from groups demanding that the firm should change its name or shut down the business, the publication quoted employees as saying.

The incident comes in the wake of the Pulwama bombing in occupied Kashmir on February 14, which killed more than 40 Indian troops. Pakistan and India's relations have been tense since the attack, with the latter blaming the former of being complicit in the attack — a charge Islamabad has denied from the get-go.

On Wednesday, a Pakistani prisoner was allegedly beaten to death by a group of inmates at the Jaipur Central Jail. The incident was reported by the Indian media as part of the aftermath of the Pulwama bombing.

What's in a name

Speaking to The News Minute, the manager of the Karachi Bakery outlet said: "The mob stayed for about half an hour. They demanded us to change the name. The men claimed to know people in the army. They thought we are from Pakistan. But we have been using this name for the last 53 years. The owners are Hindus; only the name is Karachi bakery. To satisfy them, we put up the Indian flag."

According to the website, Karachi Bakery was founded by Khanchand Ramnani, who migrated to India during the partition in 1947. The bakery’s first outlet was opened in Hyderabad and has grown into a nationwide franchise. The bakery is popular for its fruit biscuits.

Following the protests against the bakery in India, people on Twitter shared photos of the popular Bombay Bakery in Pakistan's Hyderabad, highlighting how the word 'Bombay' was very much still there.
 
According to Dawn, PPP Senator Sherry Rehman also joined the conversation on social media, saying: "Bombay Bakery is thriving in Hyderabad [...] Nobody wants to even think of changing their name. Erasing our past or diversity will only lead to myopic exclusions."




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Comment by: raj kumar Singh

You don’t seem have anything being wrong in doing anything against India.I am really ashamed I am responding to such an unpatriotic person. The writer of article should die of shame what all he is writing against India for money only. Shame on you.

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Radhaswami ‘Baba’ threatened to kill me: Malvinder Singh
17.02.19 - Team PT
Radhaswami ‘Baba’ threatened to kill me: Malvinder Singh



Former Fortis Healthcare promoter Malvinder Singh has filed a criminal complaint against his brother Shivinder Singh, spiritual head of the Radha Swami Satsang Gurinder Singh Dhillon and others alleging financial fraud and threats to kill him.

According to Business Today report, the curious case of the missing Rs 22,500 crore from the erstwhile Ranbaxy, Fortis, Religare empire has taken another ugly turn with Malvinder Singh filing a criminal complaint against Radha Swami 'Baba' Gurinder Singh Dhillon, his wife, sons and associates; his brother Shivinder as well as the Godhwani kin-Sunil and Sanjay. The complaint filed before the Economic Offences Wing claims Baba Dhillon through lawyer Ferida Chopra threatened Malvinder would be eliminated. Malvinder has sought Rs 8,742 crore owed to him by the alleged accused.

This is the first time ever that either of the brothers has openly accused  the Baba to be cause of their financial misery. This is also the first time Malvinder (pic)  has accused Baba Dhillon of financial impropriety. The brothers' previous barbs have been directed at Dhillon's former confidante Sunil Godhwani. The differences, which were talked in hushed tones all this while, are now public.

"...Sh. Shivinder Mohan Singh, in collusion and connivance with Sh. Gurinder Singh Dhillon, Sh. Gurpreet Singh Dhillon, Sh.Gurkirat Singh Dhillon, Sh.Sunil Godhwani, Sh.Sanjay Godhwani, Sh. Rajveer Singh Gulia and Sh.Pramod Ahuja misused his position, by aiding in concealment of the illegal acts of shiphoning off the funds...," the plaint alleges.

Singh brothers were rolling in cash in June 2008 with Rs 9,576 crore from the sale of India's largest pharma company Ranbaxy Laboratories to Japan's Daiichi Sankyo. Less than a decade later in 2016, they were burdened with a debt pile of Rs 13,000 crore-losing an unbelievable Rs 22,500 crore in 8 years reports Business Today.

The plaint alleges that a bulk of the sale proceed was invested in group companies, of which at least Rs 1,006.3 crore is detected to have been directly loaned to the Dhillon and Godhwani families via 6 entities: Fern Healthcare, Modland Wears, Best Healthcare, Adept Lifespaces, Devera Developers and Rosestar Marketing. "...it was shockingly revealed that the said companies had in fact surreptitiously extended financial facilities to the tune of INR 1,006.3 crores, to either Sh. Gurinder Singh Dhillon, his family members, his close associates, to the Godhwani's and/or companies owned/controlled or managed by them".

It says the criminal acts began with the Sunil Godhwani being informally made responsible for the affairs of group holding firm RHC Holding. Malvinder's complaint also claims Godhwani controlled Religare Enterprises, Ligare Aviation, RHC and various firms owned and controlled by Dhillon and his associates and that he had direct and indirect control of RHC's subsidiaries.

"This appointment and ceding of control to Mr Sunil Godhwani was made at the behest of Mr Gurinder Singh Dhillon who after the death of the father of the complainant had held himself out to be the complainant's spiritual guide, father figure and mentor and all key business decisions were taken by him". It adds, "Mr Godhwani had close family ties with Mr Gurinder Singh Dhillon since the daughter of Sh. Sunil Godhwani was engaged to Sh.Gurkirat Singh Dhillon, who is the youngest son of Sh. Gurinder Singh Dhillon."

Malvinder's complaint alleges that as recently as June 2, 2018, he wrote to Dhillon to settle loans extended by RHC to Dhillon family, associates or entities under their control running up total outstanding worth Rs 5,482 crore. It says that the 6 companies chose not to initiate steps to recover the loans. "...on the instructions of Sh. Shivinder Mohan Singh and Sh.Pankaj G Sachdev, no Legal Notice was sent to the Dhillon family by the aforesaid companies or attempt made to recover these loans". Instead, the complaint alleges, that the 6 entities were 'fraudulently and dishonestly' acquired by Singh brothers' family holding firm RHC Holding to protect the accused from incurring the liability of paying back the loans.

He alleges that he's been pressurised to agree to a settlement which he refused to sign following which "Sh.Gurinder Singh Dhillon has threatened the complainant through his lawyer Ferida Chopra that if he did not agree to the demands of Sh. Gurinder Singh Dhillon he would be eliminated..." The complaint filed on Feb 5 is under investigation.
 

Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here.

_______________________________________________________________

Most shared Punjab Today articles:
 

Three Women of 1984  

FROM 1984 TO BARGARI - Hurt & angry, we’ve tried rage, anger. Did we miss karuna?   

REVISITING 1984 – RIOT AROUND A POLE     

KARTARPUR SAHIB: A CLARION CALL FOR PEACE IN AN AGE OF CYNICISM

If it could happen to Arun Shourie, imagine what could they do to you?

Healers & Predators – The Doctor is In, & is very corrupt

Amarinder Singh, the coup in the CBI & the ED case: Headline is missing, so please read it between the lines

Amarinder, Badals, AAP — Every party in Punjab is now an Akali Dal

Welcome to 1947. Happy Independence Day. Would you like to step out?

In Pakistan, a donkey pays for democracy – bleeding, its nostrils ripped apart

WOOING THE PANTH: Amarinder a little less Congressy, Akali Dal a little more saffron

"Captain Amarinder Singh ji” and "Rahul”: Reading Sign Language In A Relationship

SARKAR IN MANALI: From Shahkot to Mohali Court, Sara Alam Bigrra Jaye

The Comrade In Punjab - Lost, Irrelevant, Asleep, Even Bored!

WATERS ROYALTY - The Loot that Rajasthan Committed

AMARINDER GOVT's LOVE FOR FARMERS, AND MY DAD's FOR HIS SCOOTER

OF SUNNY KID & HORSE SENSE: The Punjab-Punjab Ties 
A SAFFRON JOURNEY VIA CANADA

TRUDEAU VISIT AND RIGHT-WING MEDIA MACHINE

OF NIRMAL SINGH'S EYES 

Mr. CHIEF MINISTER, PLEASE CALL OFF JANUARY 7 FUNCTION
BAD, BAD WOMAN! 

MR PRESIDENT, PLEASE TAKE BACK HIS GALLANTRY MEDAL 

_______________________________________________________________


Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged.

— Team PT






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PM-Kisan Samman Nidhi too meagre, dishonours farmers' contribution
Farm bodies slam Modi govt's 6th Budget, say it adds insult to injury
01.02.19 - PT BUREAU
Farm bodies slam Modi govt's 6th Budget, say it adds insult to injury



Budget silent on the most pressing questions – Income, Prices, Indebtedness, Insurance, Drought

Farmers and farm activists from nine states across the country who gathered in Shikohpur village in Haryana to witness and respond to the Union Budget dismissed the government’s declaration of PM Kisan Samman Nidhi as adding insult to the farmers’ injury. 

The Narendra Modi government's budget claimed that the Rs.6000 per year per family cash transfer benefit will be a major step towards doubling farmers' income by 2022. 

Kirankumar Vissa from Rythu Swarajya Vedika, Telangana said, "In comparision, the Rythu Bandhu scheme of Telangana government provides Rs.10,000 per acre of support, which means that a 5-acre farmer would get Rs.50,000 per year, giving at least partial support towards cultivation cost. It is a joke to declare that the meagre Rs.6000 per year will save farmers from the moneylenders, when a typical small farmer requires an investment of at least Rs. 1 lakh in cost of cultivation.” 

Yogendra Yadav, President of Swaraj India, said, "The government’s real intention is clear from the decion to begin this scheme retrospectively and to pass on the first installment within this financial year. Clearly, this is a desperate measure to buy the farmers’ votes, by transferring Rs.2,000 to their accounts before the election. It is a double insult to the farmers that the government expects to get the farmers’ votes so cheap. Farmers will surely reject this dishonourable bargain.”

Yadav said the announcement suffers from additional infirmities, since the scheme excludes farmers above 5 acre even in rain-fed areas, the landless cultivators, tenant farmers, and the millions of farmers who do not have land pattas, including adivasi farmers. It is also not clear how this scheme will be implemented in such a short time period in the absence of any data base of all the farmers. 

The announcement on interest subvention is of minor significance because it applies only to loans which are rescheduled during calamities. With most natural calamities not even being declared by the government and poor implementation of loan rescheduling, this benefit would hardly go to 1% of the farmers. 
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Avik Saha of Jai Kisan Andolan said, "The Minister declared that the government will do anything for protection and promotion of the cow and set up a Commission for the same. But what is he doing to protect those farmers who protect the cows? He did not even acknowledge the huge problem of stray cattle that have become the scourge of the farmers in villages across India, due to the irrational policies on cattle trade and the havoc by ‘gaurakshaks’.” The government’s support to dairy farming and animal husbandry has been very poor – out of the promised Rs.10,881 crores for Dairy Infrastructure Development Fund in 2017-18, only Rs.440 crores has been disbursed so far.

Yogesh Pandey of Swabhiani Shetkari Sangathana expressed deep disappointment that the problem of mounting dues of sugarcane farmers, in excess of Rs 11,000 crores, did not merit even a mention in the FM’s speech. He said that the government is divorced from the reality of the farmers.

When the government’s term is ending shortly, the farmers hoped that the government will present the true outcomes of the earlier schemes and announcements, instead of announcing further new schemes. Official figures of the output of some of the schemes show why the government has shied away from presenting an outcome budget. In the Pradhan Mantri Fasal Bima Yojana, the target output was coverage of 50% of farm holdings but the actual coverage fell from 29% in 2016-17 to 24% in 2017-18 and further decreased in 2018-19. Converting 22,000 rural haats into fully equipped agricultural markets was declared as a priority in Budget 2018-19. But so far only 85 have been completed and 180 are in progress. In addition to the Dairy Development Fund mentioned above, an Animal Husbandry Development Fund of Rs.2430 crores was announced but it has not been set up after 1 year.

Finally, the farmers did not receive answers to their most crucial questions from this Budget, such as Income, Prices, Insurance, and Indebtedness. Three years have passed since the government announced that farm incomes will be doubled in 6 years. At the half way point, how far have the incomes improved? While the Minister talked about the historic hike in MSP, what were the actual prices realized by the farmers this season? When the PM-AASHA scheme was supposed to ensure that all farmers get MSP, why has it received an allocation of only Rs. 1500 crores? 

In Madhya Pradesh alone, the expenditure on Bhavantar scheme was Rs.1800 crores to cover less than 20% of the farmers. Why is the coverage of PMFBY declining even though the expenditure has increased by 4 times after the scheme began? How will the farmers get out of the trap of indebtedness? Why is the data on farmer suicides not being released after 2015?

The Budget 2019-20, after raising expectations of a big election-year announcement for farmers, proved to be a big disappointment to the farmers and farm activists who gathered in the village of Shikoh, Haryana, to witness and respond to the Budget. 

Among those present were representatives from nine states – Haryana, U.P., Rajasthan, Punjab, Maharashtra, Telangana, Andhra Pradesh, Delhi and Uttarakhand. Swaraj India – from Swaraj India, Jai Kisan Andolan, Rythu Swarajya Vedika, Swabhimani Shetkari Sanghatan, Terai Kisan Sangathan and Bharatiya Kisan Union (Benipal). 

Signatories to the reaction included Yogendra Yadav, President, Swaraj India; Avik Saha, Convenor, Jai Kisan Andolan; Kirankumar Vissa, Rythu Swarajya Vedika; Yogesh Pandey, Swabhimani Shetkari Sangathan; Tajinder Singh, Terai Kisan Sangathan, Uttarakhand; and Rajendra Singh Benipal, Bharatiya Kisan Union, Punjab. 
 

Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here.

_______________________________________________________________

Most shared Punjab Today articles:
 

Three Women of 1984  

FROM 1984 TO BARGARI - Hurt & angry, we’ve tried rage, anger. Did we miss karuna?   

REVISITING 1984 – RIOT AROUND A POLE     

1984 ANTI SIKH VIOLENCE – 34 YEARS OF KADDU FARMING     

WINDS OF CHANGE — What should be Amarinder Singh’s gameplan?      

KARTARPUR SAHIB: A CLARION CALL FOR PEACE IN AN AGE OF CYNICISM

DISSECTING POLITICS OF SELECTIVE SILENCE

CONGRESS IN SGPC - Tript Rajinder Bajwa marks 60 years of this Congress dream

THE ADHAR CARD-YUKT JASOOS - THE FOUR MUSKETEERS OF IB

Amarinder Singh, the coup in the CBI & the ED case: Headline is missing, so please read it between the lines

COP Vs. COP IN PUNJAB: Saiyan Bhaye Kotwal Ab Dar Kahe Ka

SURGICAL STRIKE DAY & WE THE PEOPLE The story of the gate is not the story of the house

Akali Dal's attempt to brand Navjot Sidhu as anti-national & ISI agent is ridiculous

UNHOLY HASTE To save the faith

Hua Panthik-Panthik Punjab - How do we reclaim real politics?

The Yuba City Attack on Manjit Singh GK & General Sambit Patra

Pakistan, Navjot Sidhu & the hug: Amarinder Singh 2018 is opposing Amarinder Singh 2004

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Paragraphs that went missing from PM’s Red Fort speech could have pre-empted Opposition attack

Welcome to 1947. Happy Independence Day. Would you like to step out?

Mr SY Quraishi, can you please help to save this pet dog locked inside this sealed building?

In Pakistan, a donkey pays for democracy – bleeding, its nostrils ripped apart

Punjab is Silent as India Wakes Up to Talk of Refugees

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STRANGE BEDFELLOWS PLANNING HONEYMOON? 

WOOING THE PANTH: Amarinder a little less Congressy, Akali Dal a little more saffron

DEATH EMBRACING LOGIC: Drugs in Punjab

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THE KASHMIR GOVERNOR, THE TRIBUNE TRUST & ETHICS - How Journalism Fails Readers?

"Congress Sikhan Di Dushman Jamaat Hai?” —Akalis need to dump broken record, shift gears

"Captain Amarinder Singh ji” and "Rahul”: Reading Sign Language In A Relationship

SARKAR IN MANALI: From Shahkot to Mohali Court, Sara Alam Bigrra Jaye

If it could happen to Arun Shourie, imagine what could they do to you?

SIKHS & FEMINISTS – We hailed Harjit Sajjan; they didn’t hail Gina Haspel

AFTER BEING RAPED, I WAS WOUNDED; MY HONOUR WAS NOT

The Comrade In Punjab - Lost, Irrelevant, Asleep, Even Bored!

WE MISSED A REVOLUTION, BUT CAN IT STILL BE A GAME CHANGER?

A POLITICIAN SPEAKS – YOU SHOULD HEAR

ENCOUNTER, JULOOS & SELFIES

SOWING ANGER - NO QUICK FIX - Democracy is an Empty Ritual in Punjab

OUT-OF-BOX SOLUTION TO STOP FARMERS' SUICIDES

WATERS ROYALTY - The Loot that Rajasthan Committed

'THORRI BAHUTI EHNA NU SHARAM AUNI CHAHEEDI HAI'

ASSEMBLY COMMITTEE ON SUICIDE-HIT BATS FOR AARHTIYAS

RANGROOT OFFERS A PEEK INTO PUNJAB'S TRAGEDY

WHAT MAKE NEWS IN INDIA, AND WHAT DOES NOT?

HITLER, MODI & GANDHI: ON THE SAME PAGE?

PUNJAB IS STILL VERY FAR FROM INDIA

APOLOGY – AKALIS BIG LOSER, CONG TOO 

AMARINDER GOVT's LOVE FOR FARMERS, AND MY DAD's FOR HIS SCOOTER

SUPER EFFICIENCY ONBOARD CM’S CHOPPER

OF SUNNY KID & HORSE SENSE: The Punjab-Punjab Ties: The Coordinated Silence of Amarinder Singh & Badals

PM MODI VINDICATES PUNJAB TODAY REPORTAGE

NEW DELHI V/S OTTAWA — WILL QUEBEC DEFEAT INDIA?        

A SAFFRON JOURNEY VIA CANADA - Trudeau came to Punjab, pushed Amarinder closer to BJP, then called him a liar

JASPAL ATWAL CONTROVERSY: Mr. Ujjal, will you throw some light on this too?   

TRUDEAU VISIT AND RIGHT-WING MEDIA MACHINE

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SHEKHAR GUPTA'S HALF-BAKED TRUTHS 

OF NIRMAL SINGH'S EYES - Karze Ne Layee Ikk Hor Kisan Di Jaan...

PNB Scam: Who is Nirav Choksi and what he is doing In the name of God?

Congress upset due to Priyanka’s cleavage on calendar 

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MR CLEAN to PAKKE DHEETH: How Punjab’s Congress hurt Brand Rahul Gandhi? 

MANJIT SINGH CALCUTTA– THE DISSENTER

PUNJAB FARMERS AND IPL CRICKETERS - Finally, they can stand like equals

Mr. CHIEF MINISTER, PLEASE CALL OFF JANUARY 7 FUNCTION. My teacher is not alive, but you please call it off!

SUKHBIR IS RIGHT – On 97th anniversary  Panth Khatre Vich Hai. Where does this threat come from?

THE FINAL HONESTY CERTIFICATE: ISSUED BY THE TRIBUNE

NO TIME TO READ THIS STORY? – That’s OK - Please do not feel guilty 

BAD, BAD WOMAN! – Punjab’s top playwright slams woman complainant against Langah

MR PRESIDENT, PLEASE TAKE BACK HIS GALLANTRY MEDAL – On Amod Kanth’s badge of shame

RELAX! ALL 30 WERE DERA PREMIS – Panchkula says something stinking about its conscience

PUNJAB: AN IDEA IN SEARCH OF WORDS: Punjab, more than a poster boy of progress or a renegade from modernity

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Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged.

— Team PT

 





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