Today's Bar chart
WORLD'S TOP EXPORTING COUNTRIES
***U.S. DOLLARS IN TRILLION***
***U.S. DOLLARS IN TRILLION***
1. China 2.4 trillion.
2. USA. 2.2 trillion.
3. Germany 1.7 trillion
4. United Kingdom 800 billion.
5. Japan 797 billion.
6. France 797 billion.
7. Netherlands 714 billion
8. South Korea 659 billion
9. Hong Kong 641 billion
10. Italy 605 billion
Today's imageTODAY'S highlights:
■TELECOM CORPORATES BHARTI AIRTEL AND, VODAFONE IDEA MAY NOT PAY THE ADJUSTED GROSS REVENUE DUES (AGR) Rs.1.47 trillion AS ORDERED BY SUPREME COURT♞:
- Probable reasons: The Telecom Corporates Bharti Airtel and Vodafone Idea might have already diverted their liquid funds to their other businesses. Some of the diversions might have gone into their Overseas Investments, and it may not be easy to get those funds back.
- They might not have taken the Supreme Court's Orders seriously, for the last several months, since they were first issued. Corporates, Industrialists, Business persons, especially the Indian categories seem to place great reliance on the capabilities of their Lawyers to win their cases. And, wherever, whenever wins are not possible, the Clients expect that their Lawyers will at least get them frequent and repeated adjournments in such a way that the Clients will get ample time to dilly-dally till such a time Judges get transferred / retire .
- Mr. Ranjan Kumar, CEO of State Bank of India is reported to have indicated that Telecom Companies have not approached them for financial help.
- Even if the Telecom Companies approach Banks for help, probably they may not be able to come to their rescue. Reason: Banks themselves are saddled with lots of Corporate NPAs. Besides, whetting/appraising the additional credit proposals will be a complex and time-consuming affair.
- Here, some of the observations made by the Apex Court are pertinent:
[A Desk Officer in DOT wrote to Accountant General:] "...not take any coercive action against the licensees in case they fail to comply with the Supreme Court order, until further orders. ..."
- [On 14.2.2020, DOT shifted the Desk Officer, posted another man, cancelled its previous above Order, and issued fresh order]: "...It is directed to take immediate necessary action in compliance with the judgement dated October 24, 2019 of the Hon'ble Supreme Court. ..."
- "...this is nothing 'but a device to scuttle' this Court's judgment and this case projects a 'very disturbing scenario'. "
- "...the desk officer has the temerity to pass the order to the effect of issuing a direction to another constitutional authority, the accountant general, not to insist for any payment pursuant to the order passed by this court and not to take any coercive steps till further orders. ...".
- "...A desk officer is writing to the AG (Accountant General). There is so much money power. Is this not the outcome of money power? Let me speak, I do not bother. ..."
- "...We have to draw contempt against this man (desk officer) and also against these companies. How are they behaving? We had dismissed the review plea and not even a single penny has been deposited yet. The desk officer is staying our order. We are concerned with the health of judiciary, of this country and of this system ...".
- "...For 20 years, no company had deposited money. Ensure that the amount is deposited..."
- "...It appears the way in which things are happening that they have scant respect to the directions issued by this court. ...".
- "...How much harsher must we be? A message must go,” Justice Mishra said. “Are they running this country? ..."
- "...This is nothing but a device to oblige the companies..."
- "...Should we wind up the courts?..."
- "...Is there no law left in this country? ..."
- "...I should not work in this country at all. I am saying this with some responsibility. ..."
- "...Is there any need for judiciary left..."
- "...Let's wind up Supreme Court (if) they (telecom companies) have so much power that they can stay orders. ..."
- Deccanchronicle.com Editorial dated 17.02.2020, differs widely with what I have written here. It is a bit critical of the Supreme Court's approach. However, DC's views are very much pertinent. It will be worthwhile for us to discuss those points also in our forthcoming blog posts. In the meantime, link for those Readers who wish to read it: https://www.deccanchronicle.com/opinion/dc-comment/170220/telecom-order-wrong-signal-sent-to-investors.html
- ybrao-a-donkey's views not intended to be imposed on others: India (probably even China) has not learnt from History. Inviting Multinationals into the country, and gifting them huge swathes of land to start their industries, allowing Foreign Institutioanl Investors and Portfolio Investors to play with Indian Stock Exchanges is a blunder, started by Mr. Manmohan Singh, and continued by BJP. Allowing even Corporates to grow beyond a reasonable size is also a blunder. AirTel and Vodafone-Idea who have been asked by Supreme Court may just be sulking to pay the AGRs. Instead of them, if Reliance Jio were asked to pay some billions, would they have paid? [According to my belief] Definitely not.
- One quote from DC's Editorial cited above is very important not only for the Telecom Corporates, but to everybody who signs contracts
"...On receipt of Trai’s recommendation and government's final decision, the final adjustment of provisional dues will be effected depending upon the percentage of revenue share and the definition of revenue for this purpose as may be finally decided. ..."
- In Telugu language there is a proverb: "cheruvulo barre kommulu cUsi, barrenu bEram chEsinaTlu". Approx. English Gist: This is an anecdote. A buyer went to a village to buy a miltch buffalo. At that time, the buffalo intended for sale is relaxing itself swimming in a tank. Only its horns were visible. The seller quoted the price. The buyer bargained and purchased the buffalo. Later, the buffalo came out of the Tank. It is not as per the expectations of the buyer. What can he do?
- Whenever a Corporate or an individual signs a contract with attachments in small print, the general experience is they do not read the clauses in depth. Such is our laziness. When a problem arises, the position becomes complex. Unnecessary litigation erupts. The above clause in the Agreement between the GOI and the Telecom Companies is very vague. And it gives nearly unlimited powers to the Govt. The Telecom Companies ought not to have signed the Contract. But, they have signed. They might have been under the impression that they can always manage with the Government Officials by throwing some bucks. The guy who takes the kickbacks may get transferred or may retire. The next person who occupies his seat may also co-operate, expecting his own cuts. Thus it goes on. As long as the same Party is in Power, for some decades, there will be no problem.
- When power changes hands, the New Ruling Party may either continue the same policies , or may chose to use its powers in the Small Print of the Contract, to adversely change them even retrospectively against the Contracting Parties. These sudden adverse changes can result in substantial losses to the Contracting Companies.
- The New Ruling Government and the Ruling Party after making the adverse changes, cannot go back, because any such reversal can give a stick to the Opposition Parties to beat the Government , attributing corruption.
- Hence, it will be in their interest, that Contracting Companies should read the Contracts they sign very carefully and meticulously. They should not assume that Government Officials, Politicians, and Courts can be managed at anytime.
TODAY'S untrivia:
■Mr. Bernie Sanders owes a duty to spread the message of True Total Socialism. At present what he offers to people is only a very nominal tinge of Socialism, and not True Total Socialism. ♞:
- Mr. Bernie Sanders is a self-proclaimed Socialist. He is Senator from Vermant State, in USA. In 2016, he tried for a Presidential Nomination from Democratic Party, but he could not overcome Ms. Hillary Clinton, who has money bags and support of Business and Industrial Tycoons. Not that Mr. Sanders is a pauper. Not that Mr. Sanders could not mobilise some millions for his Presidential Campaign. In 2016, he was reported to have mobilised $20 million, said to be more than even Ms. Hillary Clinton. However, I believe, like in India, the candidates and parties in USA also under-report concealing the names of bulk donors.
- If Mr. Sanders speaks like a True Total Socialist, no Business Person or Industrialist or Corporate Body will donate him even a single dollar. Instead, his character will be assassinated, and he will be driven to commit suicide.
- I [ybrao-a-donkey] greatly appreciate the courage of Mr. Sanders, in his adventuring into the 2020 Democratic Presidential Nomination Campaign, because he suffered a heart attack in Oct. 2019; has blocked arteries; got two stents inserted in his artery. Trying for Presidential Nomination is not an easy thing. It requires an Olympian effort. There will be substantial strain, stress, ups and downs of jubilations and depressions, which persons of ordinary, albeit clinically healthy hearts, cannot endure.
MULTIPLE CHOICE QUESTIONS TEST No.
Here is a 10 Multiple Choice Question Test on your favorite subject. Some Qs are actual Examination Questions, ABRIDGED & EDITED for brevity, and to facilitate easier comprehension. Actual Exam. Qs were lengthy and circumlocutive. Qs can be answered online, and score can be checked by clicking ~showprogress~ box at the end of any Q. There are minus marks of 0.25 (quarter mark) for each wrong answer. If any Qs are left out, there will be no change in score. ==Answers and explanations== for each Q can also be checked by moving your mouse on the word `mouse` at the end of each Q. You can try and retry any number of times.
TODAY'S BHARTRUHARI--Sringara Satakam (100 verses of Love & Lust):
■sringara SATAKAM OF BHARTRUHARI: WOMEN, WHO CREATED? ♞:♛ Aavartaha samSayAnAm, avinaya bhavanam,
paTtaNam sahasAnAm,
DOshANAm sannidhAnam, kapaTa Sata mayam,
kshEtram apratyAnAm,
Svarga dvArasya vighnO,
naraka pura mukham, sarva mAya karanDam,
StrI yantram kEna srishTam,
visham amrita mayam, prANi lookasya pASaha.♝
♛The poet wonders: Which magician created this gadget called ‘woman' who is:♝
♛a) a dwelling of all dilemmas;
b) a palace for disobedience;
c) a town of courage;
d) a podium for defects and sins;
e) a repertory of a hundred slynesses;
f) a field for suspicions
g) a line of hurdles to the gate of the Heaven;
h) an entrance for the hell;
i) a venom of illusions.♝
- ■KARL MARX & ENGELS ♞:
- As a matter of fact, the methods of primitive accumulation are anything but idyllic.
TODAY'S KARL MARX :
- ■VYASA MAHABHARATA TRANSLATED BY GANGULI, BOOK3, BOOK OF FOREST/m03273.♞:
- The Mahabharata, Book 3: Vana Parva: Draupadi-harana Parva
- "Markandeya said, 'Then the Brahmarshis, the Siddhas and the Devarshis, with Havyavaha as their spokesman, sought the protection of Brahma.
- And Agni said, 'That powerful son of Visrava, the Ten- headed cannot be slain on account of your boon! Endued with great might he oppresseth in every possible way the creatures of the earth.
- Protect us, therefore, O adorable one! There is none else save you to protect us!'
- "Brahma said, 'O Agni, he cannot be conquered in battle by either the gods or the Asurasl I have already ordained that which is needful for that purpose.
- Indeed his death is near! Urged by me, the four-headed God has already been incarnate for that object.
- Even Vishnu, that foremost of smiters will achieve that object!'
- "Markandeya continued, 'Then the Grandsire also asked SAKRA (INDRA) , in their presence, 'Be thou, with all the celestials, born on earth! And beget you on monkeys and bears, heroic sons possessed of great strength and capable of assuming any form at will as allies of Vishnu!' And at this, the gods, the Gandharvas and the Danavas quickly assembled to take counsel as to how they should be born on earth according to their respective parts.
- And in their presence the boon-giving god commanded a Gandharvi, by name Dundubhi saying, 'Go there for accomplishing this object!' And Dundubhi hearing these words of the Grandsire was born in the world of men as the hunchbacked Manthara.
- And all the principal celestials, with SAKRA (INDRA) and others begot offspring upon the wives of the foremost of monkeys and bears.
- And those sons equalled their sires in strength and fame.
- And they were capable of splitting mountain peaks and their weapons were stones and trees of the Sala and the Tola species.
- And their bodies were hard as adamant, and they
- were possessed of very great strength.
- And they were all skilled in war and capable of mustering any measure of energy at will.
- And they were equal to a thousand elephants in might, and they resembled the wind in speed.
- And some of them lived wherever they liked, while others lived in forests.
- And the adorable Creator of the Universe, having ordained all this, instructed Manthara as to what she would have to do.
- And Manthara quick as thought, understood all his words, and went hither and thither ever engaged in fomenting quarrels.
TODAY'S EPISODE FROM VYASA MAHABHARATA ENGL. TRANSL.: :
I undertake English, Hindi, Telugu language Translations. My labor charges: Ind. Rs. 110 per input page. E-mail input files to y b h a s k at g m a i l .com.