Mr. Narendra Modi, the greatly popular Prime Minister of India, seems to be riding on two boats. He is very adeptly discharging his double role. On the one hand, he says that he fights on behalf of poor and downtrodden, against the black KuberAs (Kubera = Lord of Wealth, and the Ruler of the North Direction, in Indian Mythology). But his speechees at the recently held jamboree VIBRANT GUJARAT (2017), express a different language. His largesse to the industrialists knows no bounds. When he speaks on behalf of the poor of India, the first half of the adage "chasing with the hounds" will apply. When he praises industrialists and promises them everything under the sky, 'running with the hares' will apply. One can't portray to be a police and a thief, at the same time.
PAEANS SUNG BY shri MUKHESH AMBANI, AT VIBRANT GUJARAT.
Here is a link to a Youtube Video. Click to go to Youtube.com and see a video, of mukesh ambani praising Narendra Modi 7.32 minutes .
What favors Mr. Mukhesh Ambani may want in return?
Read this Zeenews report. Click to go to and study the $1.5 billion claim of ONGC on Reliance. http://zeenews.india.com/companies/ril-slaps-arbitration-notice-on-govt-over-1-55-bn-demand-minister_1950412.html
Reliance Industries has slapped an arbitration notice on the government over a demand USD 1.55 billion demand made on it for "unfairly enriching" by producing natural gas belonging to ONGC, Oil Minister Dharmendra Pradhan said today.
The oil ministry had on November 3 issued a notice to RIL, Niko and UK's BP plc seeking USD 1.47 billion for producing in the seven years ended March 31, 2016 about 338.332 million British thermal unit of gas that had seeped or migrated from state-owned Oil and Natural Gas Corp's (ONGC) blocks into their adjoining KG-D6 in Bay of Bengal.
After deducting USD 71.71 million royalty paid on the gas produced and adding an interest at the rate of Libor plus 2 per cent, totalling USD 149.86 million, a total demand of USD 1.55 billion was made on RIL, BP and Niko.
ybrao-a-donkey's personal observations which are not intended to be imposed on others:
It is strange that ONGC seems to have signed some contracts with Reliance, agreeing for external international arbitration proceedings. International Arbitration Proceedings and Awards tend to be biased and expensive.
Biased because: Overseas Multinationals, particularly the Euro-American Multinationals adopt unscrupulous methods to get awards in their favour.
Expensive because: International Lawyers charge heavily. All International contracts which Indian Corporates and Public Sector Enterprises should invariably provide for settlement of disputes only through Indian Courts. Now, Shri Mukhesh Ambani and Reliance may want India's PM to extricate them from the entanglement.
PAEANS SUNG BY Shri RATAN TATA, AT VIBRANT GUJARAT
Here is a link to a Youtube Video. click to go to view a Youtube Video which shows Mr. Ratan Tata, singing paeans to Shri Narendra Modi.
What favors Mr. Ratan Tata may want from India's PM, apart from general favors which Corporate Heads expect?
Though it may not be as sky-high as $18 billion which Tatas have to write-down, in losses, as pointed out by Mr. Cyrus Mistry-- the ousted-Chairman of Tata Group, it is not clear, how many billions Tatas may have to write-down. Will SEBI overlook everything, treating international losses as non-sense? Will the Government phew phew the losses, as something which is to be an internal affair of the Tata Group?
To continue. सशेष. సశేషం. ఇంకా ఉంది.