Saturday, May 22, 2010

General Indicted Again… Whom To Blame Now !!

Read my previous blog posts on the matter in addition to  here, here and here.

In  the atonement to its previous CoI Indian Army had revisited the facts and Court Of Inquiry was reconvened in order to permit accused General   to cross examine the witnesses which allegedly was not followed in previous Court of Inquiry (though there were speculations during the previous CoI that the officer was present during the proceedings but refused to cross examine the witnesses). 

Well the fresh CoI has completed its investigations and cross examination of witnesses again as challenged and petitioned for by the accused General in Armed Forces Tribunal and Hon'ble Supreme Court few days back and has not blessed the accused General with any primary reprieve.

The CoI has submitted its fresh report of findings and has comprehensively found Lt Gen Avdhesh Prakash (the senior most Army Official so far to be indicted and have faced Court Martial) guilty again. Seems that how hard you may try but law certainly finds its upper hand, more so after the Hon'ble Supreme Court’s summary dismissal of the petition by the General  anticipating “more skeletons might tumble out of the closet” and suggesting general to revisit the Supreme Court if he finds himself aggrieved by the findings or decisions of the Army’s CoI (again).

So the fresh CoI report has been sent over to Army Judge Advocate General’s  Branch presently headed by Maj Gen C S Nair. The report is to be put up to Gen V K Singh as then Eastern Army commander who recommended summary dismissal of the officer.

Moral of The Story:
You Can Run You Cannot Hide, Because You Are Running And You Are The Guide.. 

Saturday, May 8, 2010

Production Shearing Contract - Update 2






After almost one year of the row made by Mr. Anil Ambani in his AGM last year in July now when the Govt. has upheld the fact openly and substantially that all oil reserves belong to the Govt. and it has power and authority to allocate the price. Now Govt. has given six weeks period to the family to settle issues between them which was evolved by Kokilaben Ambani to sort out long unsavory battle between two sons regarding gas distribution.

Petroleum Minister Murli Deora has already made it abundantly clear in last July for both parties that he is “personally appalled and disgusted at how the two brothers are fighting over something that does not belong to them. Natural gas belongs to the government and is a public asset just like uranium or coal or iron ore.”

The point worth a note here is as I have already mentioned in my earlier post that Anil Ambani is not asking for ownership of gas but his entitlement from RIL's share.
Apex Court said that “Under the PSC, RIL does not become the owner of the natural gas, and there is nothing like specified physical quantities of natural gas to be shared by GoI and RIL”. It also endorsed “that renegotiation shall be within the framework of governmental policy and approvals regarding price, quantity and tenure of supply of gas”.

To make it rather easier to understand….

“Reliance Industries said the gas can’t be sold for less than $4.20 per million Btu. Reliance Natural can’t buy the gas as agreed unless the government approves the sale while the government in September 2007 set the price of gas from the Krishna Godavari field at $4.20 per million British thermal units when the price of crude oil is equal to or more than $60 a barrel. That’s 79 percent higher than the price agreed by both

Justice Reddy also gave a direction to the government, he said “It is high time for the government to frame a comprehensive policy /suitable legislation for energy security of India and supply of natural gas under the PSC.”

Now the verdict of Supreme Court is out as a vindication of Govt’s stance. It said the company can sell gas to Anil Ambani’s Reliance Natural Resources Ltd. at government-set prices that are higher than those in a 2005 family accord. It asked the parties to renegotiate their contract within six weeks.

So next Six weeks are going to be cumbersome and deciding for Anil Ambani’s ADAG which already had faced a harsh slump the day prior up to 22% in stock market post Supreme court’s verdict.

Moral of the Story:  
Why Do We Fight ?
To get what we don’t have is the most convenient and viable option but When Ambani’s are concerned..  All I can think of is 
What A Waste”

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