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Ram Jethmalani

Probably Inspired by Politicians of his Day,Confucius Says……

2 Comments / Chuckle !, Controversies, Corporate Governance, Insider Trading, Inspiring and Motivating, Reflections, When My Mind Meanders..., When the Heart Explodes through the helpless Mind / By

“I have yet to meet a man as fond of high moral conduct as he is of outward appearances”

Confucius  

 

….probably inspired by Politicians of his day !….some things simply never change !

….and I was inspired by our Politicians of the Day !

…..yesterday on ‘Times Now’ on a debate on the Draft Report of the PAC on the 2G Scam,it ended in a slanging match between Congress Spokesman Manish Tewari and BJP Representative,Mahesh Jethmalani….Arnab Goswami as the Anchor was holding his own and seeking direct answers from Manish which were being studiously   avoided…..Mahesh lost his cool on Manish….in my view justifiably so…..accused him of polemic arguments and filibustering….”Shut Up!” screamed Mahesh…”Shut your trap !” screamed Manish back further threatening to meet every Profanity received with an Expletive of his own…..and then at the end coolly stating ” there is nothing personal between us !”

Vinod Mehta of Outlook with a stoic measured and respected stand said that it would be better to hold the debate the next day once it is adopted and seen whether it remains in this form or several phrases and paragraphs are deleted…Morever it would be unfair to simply concentrate on the PM and the PMO in the report as then the charge of political motivations would stick….uncover the roles played by others..Corporates and Journalists…and as if on cue,Arnab never misses a chance of flashing Barkha Dutt of NDTV across the Times Now Screen !….Barkha Dutt featured strongly in the Niira Radia Tapes discussing the DMK alliance with the Congress and who from DMK will become what Minister !…A Raja and Maran featured in the conversations   

So was I amused or angry at Manish Tewari’s silly obfuscating rhetorics in this debate yesterday…..Both really …he said that as a matter of personal propriety he will not discuss what is in the PAC Draft Report till it is adopted by the Parliament…Fuuny stand,as his Colleagues in Congress,some who were members of the PAC were holding Press Conferences lambasting the Draft Report as politically motivated,undemocratic and unilateral as it has pulled up the PMO and the then Finance Minister and now Home Minister,Chidambaram for not taking preventive action and turning a blind eye,despite being in the know,from letting the 2 G scam happen

The fact is that both CAG and the draft Report of PAC provide the figure of Rs 176000 crs as the loss suffered by the Nation in the 2 G Scam……the critical aspect is that the PMO allowed this scam to happen as they kept an ‘arms length’ away from the Telecom Ministry…also instructions were issued to keep this length as well as confine only to informal communications and not formal ones….Why !? read more

Supreme Court : RIL v/s RNRL is Ram Jethmalani v/s Harish Salve

1 Comment / ADAG Companies, Controversies, Interesting News Sightings, Investing Themes, INVESTOR MISTAKES, Refining & Petrochemicals, Reflections, Sensex, STOCKS / By

There were 48 TV Crews at the Supreme Court this morning…..The Cameras were positioned to broadcast live sound bytes from the lawyers of RIL and RNRL

First we had a trifle agitated, Ram Jethmalani,who represented RNRL, emerging and a hectic rush to have  Mikes thrust onto him for his comments

This is what Jethmalani said,rather accused 

” The Supreme Court has not stayed the High Court Order which had favoured RNRL.The Government is a Puppet of RIL and The Oil Ministry is in the pocket of Mukesh Ambani….according to me they (RIL) cannot deal with the Gas…They (Mukesh Ambani and RIL) can go against Moral Issues and Mother’s Mandate….It is a stupid argument ( that the MOU cannot override Sovereign Interest).In a democracy and a republic there are no sovereign authorities..all authorities are bound by a court of law ” 

Then came out a beaming Harish Salve,who stood for RIL.This is his interesting sound byte

” The Supreme Court has not passed any order today.On specific mention that RIL will continue distribution of Gas as per the January 2009 Agreement,the Court stated “We are not stopping you”….The Question is that in these changed circumstances,when Gas is selling at US $ 4.20/mmbtu ,how can one buyer insist at US $ 2.34/mmbtu…the question thus arises that how can the MOU between two brothers,to strike parity between them, override the Sovereign Policy and Interests of the Government….Supreme Court is concerned with the seriousness of this Issue……It has issued Notice to RNRL as to why the Government should not be made a part of this Case…..Jethmalani’s utterances are largely for the Galleries and not for the Courts…..MOU was subject to company and government approvals,which is being ignored….If the gas is sold at US $ 2.34,it would be a double whammy as the buyer will then sell it for US $ 4.20 and pocket the difference ! ( RNRL was to supply the Gas to Reliance Power’s Dadri Plant.This Plant will take atleast 3 years to beging Operations…so if the MOU was to be honoured,it would get Gas at US $ 2.34 and will be able to sell it at current commercial rates of US  $4.20 and pocket the difference ) When cases become weak you thump the table…This (Anil Ambani’s July 15,2009 letter to the PM) is table thumping”

On a day when the Sensex has surged to 15100 over 350 points,RNRL is down 3 % a Rs 80 while RIL is up 4% past Rs 2000,just past 2 pm read more

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