Suits & sayings: Weekly roundup of whispers & murmurs
The telecom-wallahs who had beaten the heat and dust of the plains weren’t complaining too much, thanks to the pleasant prospect of cool winds laced with the heady scent of pine.
Denizens sick of Delhi’s searing heat were singing the telecom regulator’s praises for choosing Shimla as the venue for a recent consumer conclave on cybersecurity. Some spoilsports felt the event would have had greater relevance if more consumer groups from across India had made it to the cooler climes. Apparently, only one consumer activist group from Himachal Pradesh was present at what was meant to be a national consumer awareness conclave on the perils of cybercrime. The telecom-wallahs who had beaten the heat and dust of the plains weren’t complaining too much, thanks to the pleasant prospect of cool winds laced with the heady scent of pine.
Anil Goel, the former CFO of Indian Hotels who joined Tata Trusts late last year, has made an early exit. Interestingly, the philanthropic institution that’s holding company Tata Sons’ main shareholder has replaced him with Mehrab Irani, who was responsible for investments at listed company Tata Investments Corp.
Over the years, the central bank has pursued a simple policy with regard to queries: Not replying is also a reply. That may be changing. It was interesting to hear the other day that Reserve Bank of India officials examining the Indiabulls-Lakshmi Vilas merger proposal have been seeking clarifications from the Intelligence Bureau via WhatsApp messages. A rather nimbler approach to an important matter that all non-banking finance companies are tracking.
Acrimonious business separations can come to haunt the winners of such disputes if the loser gets into a position in which pain can be inflicted. A conglomerate recently discovered this the hard way — an estranged partner made use of legal means to scuttle a transformational merger. While there may be a temporary win in sight, the shadow of enmity looms large.
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