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Posts Tagged ‘Indian corporate sector’

Season for oligarchies – Corporates may control vegetable trade

November 26, 2010 33 comments
Very soon, this is all we will get to eat. Some overpaid corporate executive will decide what we eat at what price! (Cartoonist- Andy Singer; cartoon courtesy-www.mindfully.org.). Click for larger image.

Very soon, this is all we will get to eat. Some overpaid corporate executive will decide what we eat, at what price! (Cartoonist- Andy Singer; cartoon courtesy-www.mindfully.org.). Click for larger image.

death for ordinary rythu bazars and vegetable markets, (as) the entire trade of vegetables, fruits and meat will come under the control of corporates like Metro, Heritage, Reliance or Al Kabeer once the massive terminal market complexes (TMCs) being proposed come into existence in the state.

The corporate setting up the TMCs will (INVEST) Rs 150 crore towards this business, the state government will have a 26 per cent stake (for) 50 acres to 200 acres of land. The private enterprise (PE) will own the remaining portion of the business.

The state government is constructing these massive modern whosesale markets in Hyderabad, Guntur, Vizag and Tirupati, ostensibly to help the farmers. The farmers will directly sell the produce to the TMC, thereby cutting out middlemen. Another advantage is a cleaner, modern bazar with facilities like warehousing, cold storage, ripening chambers, cleaning, grading and processing along with extension of advisory service to farmers.

However, prices will be fixed by the corporate. (with) retail prices of vegetables likely to go up for the consumer. The question is would it benefit the farmers or the company which will gain control over the entire vegetable business of the state.

Corporations will decide which pesticide, what seeds, what prices, what items we eat. Who do you think will benefit? Not me, I know! (Cartoonist - Joe Mohr; cartoon courtesy - http://ecopolitology.org.). Click for larger image.

Corporations will decide which pesticide, what seeds, what prices, what items we eat. Who do you think will benefit? Not me, I know! (Cartoonist - Joe Mohr; cartoon courtesy - http://ecopolitology.org.). Click for larger image.

The TMC will control the production and collection of vegetables from the farmers over certain radius, “While it is not mandatory for the farmer to sell his produce to the TMC, the private operator will offer him a higher price as well as induce them with loans for procurement for seeds. This in the end will make the farmer a captive seller to the TMC and for the retail consumer, the prices of vegetables, fruits and meat will become costlier,” said the sources. (read more via Corporates may control vegetable trade; parts excised for brevity).

Ignorant bureaucrats

Kasargod in Kerala is in the grip of a strange malady. Deformed children.

The Plantation Corporation of Kerala (PCK) has been cultivating cashew in 4500 hectares spread across this district. Since the early 1980s the PCK has been aerially spraying an organochlorine pesticide called endosulfan that has been banned in many countries including Singapore, Denmark, Germany, Holland and Sweden. Over the last several months, various reports in the media as well as studies done by institutions like the Centre for Science and Environment (CSE), New Delhi have indicated a strong link between the aerial spraying of endosulfan and the number of deaths and illnesses in the area. (read more via The Hindu : Cashews for human life?).

Cartoonist - Clay Bennet; cartoon courtesy - www.ritholtz.com). Click for larger image.

Corporate executives will soon dictate to us. They will buy Government's silence. (Cartoonist - Clay Bennet; cartoon courtesy - http://www.ritholtz.com). Click for larger image.

We have seen stories on how swine flu started in La Gloria, a little town in Mexico, at the one of Mexico’s biggest hog factories, owned by the world’s largest pig processor, Smithfield Foods. The world diabetes epidemic by industrial and junk food is become an old story.

And now this

AP Government wants to handover vegetable trade to highest bidder. Some 50-150 acres of land is proposed to be given these companies. These corporations will be able to raise all that money for investment just by p-ledging the land that the Government is handing over to them.

These private monopolies will have monopoly over agricultural output in their designated areas. Producers will given the choice of selling at any mandi to that monopoly buyer. All the ryuthu bazaars will close. The nearly 10,000 vegetable vendors who serve Hyderabad’s 10 lakh (1 million) households can buy from the one monopoly buyer. Another 10,000 eating houses will have the choice of one vendor.

India has indeed becoming a ‘free’ country.

Indians banks running a parallel legal system

May 22, 2010 4 comments

Indians banks went overboard - while handing over money and while extracting money!

Indians banks went overboard - while handing over money and while extracting money!

A room full of some 70,000 fake Non-Bailable Warrants NBW is being scrutinised at the court. Officials … have found fake seals of judges’ signatures, and cooked-up court papers. A bank-court staff ring used these papers against clueless borrowers of ICICI Bank, Kotak Mahindra Bank Limited, Cholamandalam DBS Finance Limited, Reliance Capital and HDFC Bank, among others. Another major fraud is that most of the accused are not in Bangalore. Many live in cities like Kolkata, Chennai, Hyderabad, Mumbai, Allahabad, and in remote corners of Jharkand and Bihar. The story unfolded after many such harassed customers complained to the court, sources said.

The scam has shaken the judiciary in Karnataka. One source told this journalist that an advocate had filed 30,000 such cases allegedly on behalf of Cholamandalam DBS Finance in the last six months. An advocate reportedly representing Kotak Mahindra Bank has filed around 10,000 fake cases in the last six months.

The preliminary inquiry has revealed that advocates representing many banks, in collusion with court staff, have created their fake stationery for preparing the orders.(via Banks, court staff fake judge’s orders, News – Latest – Bangalore Mirror,Bangalore Mirror).

A Gurumurthy, the judge in whose court a scam involving court officials, banks and financial institutions to the tune of hundreds of crores of rupees was unearthed, has been transferred. It is feared that with the transfer of the judge, the departmental inquiry would suffer.

Some 70,000 fake NBWs were said to have been issued in the last three years to people across the country. Three officials of the court – Tulasamma, the sirastedar, Balasubramani, the bench clerk, and Narasaiah, a case worker, who allegedly ran a ‘parallel court’ in collusion with banks and their advocates, were suspended. (via Whistle-blower shunted out, News – City – Bangalore Mirror,Bangalore Mirror).

Bad news first

Apart from the Times of India group, no one else seems to be covering this issue. National TV channels have been quiet on this. Strange! How come no one else is reporting on this?

Who has issued the gag orders?

Then comes worse news

Is this how bankers are these days?

Is this how bankers are these days?

2ndlook has been flagging, for the last 1 year, how the concentration of power is leading to abusive behaviour by India’s corporate sector.

This is especially true with the newly opened economic sectors like banking and telecom.

This incident is not a financial scam as is being shown in the news report – but an abuse of financial power. Not surprising, how the corporate structures make abuse of authority easy. India’s newly opened economic sectors like banking and telecom have yet to develop their weak and flaccid ethical muscle.

This is particularly tragic, because Indians across the world have the highest faith in their corporate institutions. To find their faith abused in such fashion is shameful.

Though I find it hard to believe that Indian public sector banks seems like a so much better choice – when compared with private banks that follow such sharp practices!

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