A leading Journalist could have saved a good Rs. 2600 crore of NSEL Scam-med Investors, if Jignesh Shah was exposed in 2012..

It may well be a shock to many and a horrific surprise to others to know that a leading journalist had stumbled upon the NSEL Scam a good one year before the Empty Warehouses were unveiled in the public eye after FMC forced Jignesh Shah promoted spot exchange to stop trading in fictitious commodities. The name of this leading journalist would be an even bigger shock, if and when it comes out in the open.

As the story goes, a chain of emails were found in the email account of former CEO Anjani Sinha, who once was the top henchman of Jignesh Shah to perpetuate the scam which cost 13000 investors a whooping Rs 5600 crore. An amount which still remains to be recovered from the mastermind of the scam, which virtually necessitates a forced merger between NSEL and Financial Technologies to get access to the reserves of Jignesh Shah’s flagship firm to repay the investors.

It is said that the eminent journalist known to break scams did have the details of every wrongdoing at NSEL. The chain of emails supposedly carry queries sent by the journalist to the ex-CEO of NSEL dating sometime towards mid-2012. As per estimates the NSEL Scam would have been worth around Rs. 3000 crore, if it would have been exposed an year ahead of its imminent discovery. According to a highly reliable source, the journalist had accurate details on the workings of the shady subsidiary Indian Bullion Merchants Association (IBMA) which was also being used as a vehicle to take calculated positions on MCX to make windfall gains. It is not clear whether the eminent scribe had information that the profits being created using IBMA were pilfered through a maze of companies by the scamsters.

Somehow, after a serious of mail exchanges, the trail went cold. Apparently, one of the accused in the NSEL Scam who was arrested disclosed that a meeting was held between this leading journalist, Jignesh Shah and Anjani Sinha at Taj LandsEnd – a 5 star hotel in Mumbai. The result of the meeting was a long-drawn silence from the publication of this leading journalist. Alas if this journalist had exposed the wrongdoings at NSEL a year ahead, it may have saved close to Rs. 2600 crore of investor wealth and added another feather to the eminent scribes hat too. It was not to be… But the mail trail between Anjani Sinha and the leading scribe does exist in some files that are getting covered with layers of dust as the clock ticks everyday…day after day…

Issues are in the Mind.. Simple Solution in a Court Room to force-merge Jignesh Shah flagship FT with scam ridden NSEL to give 13000 investors their due….

A leading newspaper has recently raked up the issue of numerous legal issues that may arise if government takes steps to force-merge scam ridden NSEL with Jignesh Shah’s flagship Financial Technologies in order to have access to fledging reserves of FT to repay 13000 investors. The suggestion initially mooted by Investor Activist Ketan Shah and formally proposed to the government by the regulator Forward Markets Commission (FMC) is the only visible way to ensure that the entire Rs 5600 crore gets repaid to the 13000 investors who have been cheated of their rightful dues for over a year now.

Inspite of attempting to paint a Legal Issue Laden picture to its readers, and the decision makers too, the article turns out to be lame on both its feet having no logical content to back up the “legal issues” such a merger would have to face. First and foremost, NSEL Scam has given rise to a new dimension of investor activism in India where a handful of the 13000 investors have stood tall for over a year to ensure that a powerful man like Jignesh Shah goes to the place he deserves. There has never been a past precedent of this nature, and hence any past precedents of no such merger ever happening automatically stand meaningless in this case.

Secondly, there is always a first time for everything. In the recent past, Indian Judiciary has shown that there is a will to shrink the “long drawn legal battles” and give expeditious verdicts. The prima facia facts of NSEL Scam and the FT – NSEL – Jignesh Shah veil would not be difficult for the Judiciary to look through to pass a landmark judgment. A Judgment which itself becomes a first-of-its-kind precedent to ensure that Jignesh Shah clones who have been perpetuating NSEL like scams and are still out in the open get a shiver down their spine.

Thirdly, the claims of Jignesh Shah and his associates claiming ignorance of the wrongdoings at NSEL have been exposed bare by EOW of Mumbai Police, FMC as well as Forensic Audit. Even the FT Shareholders who enjoyed dividends and handsome value appreciation had reposed full faith in Jignesh Shah and should not have any issues to share the part of losses or outgo from FT due to deeds of Jignesh Shah.

Any legal issue that may be cited as a barrier to ensure repayment to investors needs to be nipped in the bud. And a Court Order can eradicate each and every issue that may come on the way. An order which at best may take 2 months. An order that will aptly punish Jignesh Shah alongwith his associates to set a precedent like never before. But that need may not arise, as the bureaucracy has enough powers to exercise so as to force merge FT with NSEL. Till then, every penny in FT’s accounts from sale of stakes in various exchanges needs to be frozen and an administrator appointed to track and approve every expense FT incurs till FT reserves can be accessed for repayment to 13000 investors.

Media Baron Subhash Chandra dismisses patch-up with Steel King Naveen Jindal.. Zee Jindal Saga to continue..

Last week may have marked a new beginning in the Zee Jindal Saga with both sides agreeing to end the 2-year-old war. It was not to be.. As an informed source indicates, media baron Subhash Chandra has again dismissed any possibility of a peace formula with his younger country cousin from Hissar. The Source also indicates that the failed entry of Naveen Jindal to the BJP has nothing to do with Subhash Chandra. According to the source, the gates of BJP were never open for the Steel to Coal Billionaire, not requiring Subhash Chandra to flex his muscles.

As the story goes, Zee camp reluctantly confirms that olive branch has indeed been offered from the other side on atleast 3 occasions, which Subhash Chandra has outrightly rejected. Chandra is said to be confident that even if he is charge-sheeted, there is absolutely no evidence that he will be convicted by a Court of Law. On the other hand, the 2 editors of Zee who also stand accused in the Zee – Jindal alleged extortion case might be the ones who end up facing the music from the Court. A verdict the Zee camp can anyways challenge in a higher court.

Zee Camp has also expressed that there is no withdrawal from their fight to expose the chinks in Jindal’s Steel Empire. The obvious target are the business interests of Naveen Jindal where the channel suspects a laundry list of issues that can be exposed to the public eye. On a reverse attack from the Jindal Camp, the Zee source indicates that they are prepared to answer every issue that gets raised at behest of their opponents.

As per the source, there is no reason why Subhash Chandra should bow down at this stage. Even if some exposes come on the Zee Empire, Subhash Chandra can handle them using the might and influence that the media baron commands in the media owners club of India. Zee Camp is eagerly awaiting the forthcoming chargesheet by CBI in the Coal Gate case, where Naveen Jindal alongwith Dasari Narayan Rao stand accused. Expectations of a whip lashing out from Enforcement Directorate (ED) is also being speculated in 2-3 months time.

NSEL Scam drives Jignesh Shah’s Flagship Financial Technologies on Path to Slow death. Stake Sale peps balance sheet, as MCX acts tough to re-negotiate contract..

The Flagship Firm of Jignesh Shah and erstwhile star performer on Indian bourses Financial Technologies is heading towards a slow death. The recently announced Q1 results of the company, on a closer look, show that the once upon a time technology innovator has started running into operational losses.

As a matter of record, the firm posted a Q1 profit of Rs. 128 crore piggy-riding on a Rs. 172 crore one time gain through stake sale in India’s largest commodity exchange MCX. Without this one-time gain, and purely on basis of operational income the company would have posted a loss of Rs. 44 crore in the quarter as compared to a profit of Rs. 81 crore in Q1 of previous fiscal.

The steady decline in the operating revenues of FT clearly show the over-dependence of the firm on NSEL’s revenues. In Q1 2015, FT reported an operational income of close to Rs. 44 crore. The operational income in Q1 2014 stood at Rs. 104 crore. The massive drop can be attributed to zero revenue from NSEL and drop in revenue from MCX. In Q4 2014, FT clocked operational revenue of Rs 56 crore odd.

Total operational expenses of FT in Q1 2015 stood at over Rs. 67 crore, clearly showing a Rs. 23 crore operational hole before finance costs and depreciation.

The bread and butter STP Solution Income primarily dependent on the exchanges Jignesh Shah once founded has shown a dismal performance. From STO Solution revenue of Rs. 93.30 crore plus in Q1 2014 (pre NSEL Scam) the STP Solution revenues have fallen to a dismal Rs. 37.22 crore, a 60% drop.

The revenue hole would be exposed bare by Q3 2015 by which time the new MCX management would have re-negotiated their STP contract with the Jignesh Shah promoted firm. The negotiation is expected to end within a week’s time, and the fresh terms will commence from September 2014. Amongst the key re-negotiations, the fixed fee may be halved from the current Rs 5 crore with possibilities of Trade-based fees being marginally lowered. The 33-year contract would also cease to exist and MCX is likely to induct another Technology vendor by end of calendar year 2014.

Interestingly, the dependence of FT on NSEL’s revenues is laid bare in the financial results of Jignesh Shah’s own flagship. A point which can further emphasize EOW of Mumbai Police charges under which the now disgraced poster boy is cooling his heels in jail currently.

 

 

 

 

 

Jignesh Shah bail order to be pronounced in 66 hours.. Will Bad Shah stay to give company to broker friends??

The much-awaited Bombay High Court bail order on Jignesh Shah is awaited on Thursday or Friday. Already delayed by a week, the order is expected to make the Bad Shah of NSEL Scam stay as a government guest under hospitality of Mumbai Police for a few weeks more. Some old broker friends of Jignesh Shah are expected to join him soon for company. One of Shah’s old pals Chirag Shah is said to be on top of the list. Chirag Shah is a senior official with a brokerage Philip Capital. According to sources, Chirag Shah has been frequently seen at the Court during hearings of Jignesh Shah. Apparently Chirag Shah also made a flying visit to Delhi a few days back hoping to find a way to help mate Jignesh Shah.

Was Loss Making Newspaper DNA merged with Stock Exchange Listed Zee News to force shareholders share losses of Subhash Chandra?

Last fiscal, Subhash Chandra promoted Zee News showed a reasonable profit of Rs. 5 crore odd in Q1 2013-14. This years Q1 2014-15 results have taken the publicly listed news channel to a Rs. 15.6 crore loss. A company statement carefully blames the losses on Essel Publishers, the owner of newspaper DNA. 

The losses have come after Essel publishers, a fully owned company of Subhash Chandra, was merged with the Listed entity Zee News to be renamed as Zee Media later. It is hard to believe that Subhash Chandra and his able management who suggested the merger of DNA with Zee News would not have known of the losses that merged entity would need to bear. Losses which will be dumped on the shareholders of the listed entity. 

Zee Media Corp posts loss of Rs 15.61 crore in June quarter

Last Updated: Thursday, August 07, 2014, 18:02
 
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Zee Media Corp posts loss of Rs 15.61 crore in June quarter

New Delhi: Zee Media Corporation Ltd on Thursday posted a consolidated loss of Rs 15.61 crore for the first quarter ended on June 30, 2014.

The company had reported consolidated net profit of Rs 5.03 crore in the same period of the previous fiscal.

Consolidated total income of the company during April-June quarter was Rs 133.46 crore. It was Rs 77.68 crore during the same period last fiscal, Zee Media Corporation Ltd (ZMCL) said in a statement.

“ZMCL has enlarged its reach to over 147 million users across the country, again consolidating its position as the largest private news network. We have also continued to sharpen our focus on our online medium by ensuring seamless integration of content across platforms,” ZMCL Group CEO News Cluster Bhaskar Das said.

On the future outlook, ZMCL Non-executive Chairman of the Board Subhash Chandra said:” The new buoyancy in the economy, backed by a well-intentioned policy push, is bound to make a positive impact on Indian media industry”.

ZMCL’s total consolidated revenue during the quarter under review from advertising was Rs 101.92 crore while revenue from from subscription was to Rs 24.93 crore.

The company has said that its results are not comparable due to merger of EPPL (Essel Publishers Private Ltd) with ZMCL.

“The results include figures for the print business and are not comparable to the previous quarters,” ZMCL said.

ZMCL, formerly known as Zee News Ltd, is broadcasting eight news channels including Zee News, Zee Business, Zee 24 Taas, Zee Sangam, Zee Marudhara and Zee Kalinga .

Shares of ZMCL closed at Rs 17.90 per scrip on the BSE, down 3.50 percent from their previous close.

PTI

 

Finally Forward Markets Commission (FMC) proposes Forced Merger of Jignesh Shah’s FT with scam ridden NSEL. Ketan Shah brings a new ray of hope for Investors.

Its been a year-long fight by less than half a dozen dedicated and motivated investors of the Jignesh Shah promoted scam ridden NSEL which swallowed Rs 5600 crore belonging to 13000 investors. While the other 5-6 also need to be appreciated, the one who stands apart in the crowd of 13000 is undoubtedly a meticulous and methodical Ketan Shah, who is the prime force behind keeping the rest 12999 hopes alive for so long.

While many of the investors did raise their voices from time to time, Ketan Shah is the one who has played the role of an activist investor at times, often aiding investigators with vital clues and keeping the loose flock of investors spread over the country together by incorrigibly updating the rest through his social media accounts. Today, if half a dozen defaulter borrowers who guzzled a lions share of Rs 5600 crore in connivance with scam mastermind Jignesh Shah are cooling their heels in Jail, a great deal of applause is commanded by none other than Ketan Shah.

Another major leap forward that will go far in keeping the interests of 13000 investors alive was a meeting of Ketan Shah led Investor Group with Nirmala Sitharaman. The Minister of Commerce and Industry finally gave a patient hearing to the investors, becoming the first Union Minister to assure the Investors of strict action against the scamsters at the same time assuring them of adequate measures for returning their money safely.

A few days earlier, a significant movement also happened in interest of investors when the Forward Markets Commission (FMC) has suggested a merger of FTIL with NSEL. This suggestion too was mooted by Ketan Shah. If the government forces the merger of FT with NSEL, it would be a significant step for the investors virtually assuring them of atleast 50% of their funds coming in a single stroke. The numerous inquiries, investigations and committees have taken a long one-year to nail a handful of the accused as some of them continue to enjoy the loot. The clear verdict of all the panels, committees and investigators is unanimous that FT, NSEL and Jignesh Shah were alter egos, working under a corporate veil. No one has conclusively suspected ignorance at end of Jignesh Shah of what was blatantly and openly happening at NSEL for years. No one has refuted that FT was not the biggest beneficiary of the NSEL revenues.

Hence, no one should object if the government steps in to force merge FT with NSEL and ensure that the money collected by FT by selling stakes over the past one year goes to the 13000 investors, who by all means have the first and sole right over whatever the Scam Mastermind Jignesh Shah built.

Naveen Jindal denies any scope of jumping from Congress to BJP. While BJP sources indicate former MP from Kurukshetra was keen….

The assembly elections in Haryana are barely away by a 100 odd days and the BJP is facing a severe leadership vacuum in the state. On one hand the defeat of Bhupinder Singh Hooda led Congress Party has been written off by almost every watcher, who would be the next person to lead the BJP in the State is not getting clear.

Rumormongers did start the buzz of Kuldip Bishnoi merging his party with BJP and possibilities of Venod Sharma being inducted under the Lotus Logo. Speculators also started whispering Narendra Modi’s bête noire Sushma Swaraj being shunted as the BJP face for Haryana Assembly Elections, and so were the rumors of Former Congress MP from Kurukshetra Naveen Jindal hopping over to the BJP to be projected as the Chief Ministers Candidate for the party.

The rumors of Naveen Jindal joining BJP have finally been stubbed after 2 weeks with local Haryana newspaper reports being tweeted to inform the pubic of a categorical denial by the leading Industrialist. Sources also indicate that Naveen Jindal is out of his headquarters at Delhi and Haryana when the statement was issued by his officials from Kurukshetra.

Sources close to BJP point that some friends of Jindal did try hard to test waters to explore possibilities of a swift movement for Naveen Jindal to the Lotus Pond. The move apparently was welcomed by a few of his acquaintances at BJP, but a larger and more powerful section controlling the reins did not even consider it seriously enough to formally reject it. A soft-spoken Delhi based leader who recently came to prominence after elevation of Dr. Harsh Vardhan is said to be the most vociferous voice that was garnering numbers in support but was snubbed with equal force.

For now, the doors of BJP are not open for Naveen Jindal, after a media baron made some swift moves in conjunction with his allies. Little does the ageing media baron realize that when Naveen Jindal decides on something, he finds a way to achieve it.

Subrata Roy’s potential historic deal to sell Gems of Sahara Empire may get him a Rs. 5000 crore Bank Guarantee with Zero Cash, if it materializes.

The Conference Room of Tihar Jail has never seen so much activity in decades as compared to what it has seen in the last 2 weeks. Nevertheless, rumors of a possible $ 2 Billion deal between an unknown Global Buyer to pick up 3 iconic hotels of the world were nipped in the bud when a spokesperson of Sultan of Brunei issued a categorical denial.

As a reliable source indicates, the best possible deal Subrata Roy led negotiation team is aiming at is a Rs 5000 crore bank guarantee with virtually zero cash inflow from this deal. The Group has already submitted close to Rs. 3200 crore in cash and another Rs 1800 crore cash infusion will make it achieve the Rs. 5000 crore cash mark. The source also indicates that almost 60% of this additional cash required to be submitted is already ready with them and the rest is likely to come by month end.

Can Subrata Roy show his Midas touch once again; is a question only the Emperor of Sahara can answer?

 

The Jinx of Niira Radia falls again on Tata Empire, as CBI reopens Tata – Unitech Realty deal investigation as part of 2G Scam…

HINDUSTAN TIMES – August 17….. 

Heat on defunct Radia firm over Rs. 1,700cr Tata-Unitech loan deal

Gaurav Choudhury, Hindustan Times  New Delhi, August 17, 2014

 
First Published: 17:15 IST(17/8/2014) | Last Updated: 00:23 IST(18/8/2014)

The government’s corporate fraud wing has questioned the role of a now-defunct firm owned by former lobbyist Niira Radia in a Rs. 1,700-crore loan transaction between Tata Realty and Unitech. The money was allegedly used by Unitech to pay for 2G licences.

The Serious Fraud Investigation Office (SFIO) has also recommended that the registrar of companies (RoC) examine the 2007 agreement, sources said. The CBI has registered a preliminary enquiry to look into the deal and sought a copy of the SFIO report, sources said.

The SFIO made a series of recommendations in its probe report on the operations of public relations and lobbying firm Vaishnavi Corporate Communications Limited (VCCPL), which was owned by Radia, sources told HT. VCCPL also used to handle media relations for various Tata Group firms and Unitech.

 

“Tata Realty reiterates that it has comprehensively addressed questions from all government agencies and fully cooperated with all authorities in their investigations. Tata Realty stresses that it is committed to the highest standards of ethics and business conduct,” a Tata Realty spokesperson said.

The SFIO report, sources said, has called for action against VCCPL and its group companies for various violations, including dubious auditing.

It also said income-tax department should look into probable capital gains and tax evasion after Unitech sold its shares in the telecom arm to Norwegian major Telenor, sources said.

When contacted by HT, a Unitech spokesperson said, “We have no comments to offer.” However, sources in the company said, the SFIO had cleared the realty major of all tax matters. There were a few issues related to transactions and the company had sent its response to the SFIO.

The CBI, it is learnt, has told the Supreme Court, which is monitoring the 2G case, it would probe whether the advance given by Tata Realty was used by Unitech for real estate projects or for a telecom licence.

“The scrutiny and investigations on Vaishanvi Group conducted at the behest of vested interests, who continue to pursue the motive of causing harm to us. The final report of the SFIO points to certain technical violations under the Companies Act, 1956. We are seeking the suitable recourse available under law,” a spokesperson of the Vaishnavi group said.

Radia hit headlines in 2010 after her leaked conversations with politicians, businessmen, journalists and others became public during the probe into the 2G spectrum allocation scam.

The SFIO, which enjoys sweeping powers to investigate corporate misdemeanour and can take punitive action under the new Companies Act, 2013, has recommended action against 11 top VCCPL executives, sources said.

The corporate affairs ministry ordered the VCCPL probe in 2012. It came amid a swirl of allegations against the previous government, which was accused of selling scarce radio spectrum at throwaway prices to ineligible companies. The national auditor pegged potential revenue loss at Rs. 176,000 crore. In February 2012, the SC cancelled 122 2G licences.

http://www.hindustantimes.com/business-news/cbi-to-probe-tata-realty-unitech-land-deal/article1-1253031.aspx

Subrata Roy struggles to make Historical Deal from Gallows of Tihar, Seeks 15 day’s additional Sahara from Supreme Court…

The man who once lived a lifestyle that is bound to give a complex to the Richie-st Rich of the world has been cooling his heels at Delhi’s Tihar for last 5 months. A man in front of whom many influential influencers queued up for a handshake was unceremoniously put behind bars with every media worth its name pasting his ink-blackened face on the front pages.

The fighter this self-made multi-billionaire has been for 4 decades took the might of Supreme Court and SEBI head on, before mellowing down in front of India’s apex judiciary. Yet his numerous attempts to seek bail under diverse grounds have been unsuccessful inspite of world’s most experienced practicing lawyer Ram Jethmalani presenting his case vociferously.

Subrata Roy did swing back by getting permission from the new SC Bench to conduct business of selling worlds best-known iconic hotels from a specially set up office inside Tihar Jail. The first ten days come to an end in a matter of hours as the Karta of Sahara Pariwar has sought 15 more days to seal a historic deal, more for reasons of the location where it will be negotiated. The imminent 15 day extension also gets him inadvertent relief inside Tihar till end of August by which he will be completing 6 months under custody. The maximum punishment under Contempt of Court is six months imprisonment.

Finally, Subrata Roy appears to be all set to be freed as the rumored talks of selling London’s Grosvenor House and New York Plaza proceed to next level in India’s largest jail, Delhi’s infamous Tihar. 

Jignesh Shah awaits Bail as Days of Independence drive far from NSEL Scam mastermind.

It has been a long 3 months that once poster boy of Indian Commodity Exchanges and now NSEL Scam Accused Jignesh Shah has been cooling his heels in the place meant for offenders. And the alleged deeds to this Bad Shah offended 13000 investors scamming them of a mind boggling Rs 5600 crores.

A panel of ultra expensive behind the curtain lawyers of Jignesh Shah are believed to have crafted a strategy to get the disgraced NSEL Scam mastermind out of jail by getting the Chargesheet delayed paving way for his independence till conviction. That was not to be and a motivated force led by Rajvardhan Sinha ended up filing a chargesheet with sensational revelations in early August.

Since then the order on his bail plea is reserved and all hopes of Jignesh Shah getting independence are getting blur by each passing day. With 6 of his borrowers joining him inside jail, the next moves of EOW may end up getting more company for Shah by roping in brokers in the net. A couple of FT officials may also come under heat as reams of pages point at many others knowing and toeing Bad Shah’s line.

The next attempt of Shah’s lawyers is understood to be preparing for next round of bail plea in later September in order to bail him out before Diwali 2014. 

Will EOW of Mumbai Police allow NSEL Scam Defaulter Borrower Mohit Aggarwal of Aastha to stage Heroic Surrender; or chain him on way to the Court on August 16th.

One of the defaulter borrowers who is being trailed by the EOW of Mumbai Police is a young self-made millionaire Mohit Aggarwal of Aastha Group, that once dreamt of an IPO to get rid of its growing borrowings from NSEL. Aggarwal was the first defaulter borrowers to get an interim Anticipatory Bail which he was enjoying for over 8 months before the Court rejected the petition this week.

Taking a lenient stance in case of his wife, the court granted Shilpa Aggarwal cover from arrest, leaving open the doors for police to nab the ambitious Mohit Aggarwal. Strangely Aggarwal was present at all previous hearings chose to stay away from the fateful one. Since then, Mohit Aggarwal is said to be untraceable and is being rumored to be preparing to approach Bombay High Court.

From what it appears, Mohit Aggarwal may be planning to stage a surrender at the High Court minutes before the fresh Anticipatory Bail Plea. A section of EOW Officials have taken the challenge to nab him and produce him for remand before the Juggernaut makes an emotional surrender. 

Will EOW of Mumbai Police Stumble upon an inviting trail from NSEL to a Baroda based “unknown – friend” of FT promoter Jignesh Shah.

How long can the Economic Offenses Wing of Mumbai Police keep shrugging away a probe into the well-concealed transfers to a little known Gujarat based firm that is suspected to have been the route for taking out funds for a disgraced billionaire and his network of political benefactors.

If strong and growing whispers are attempted to be heard, the Gujarat based company may have been the funnel through which the cash was pilfered out of NSEL using the official channel. Through a series of transactions, the hoards of cash may have gone abroad under various legitimate looking transactions.

With a band of half a dozen defaulter borrowers in police custody already, the Gujarat based Construction Firm may come in the queue after the brokers who once cozied up with the now-in-jail bad shah are dealt with in September.

This may well lead to a new lead opening up at the Enforcement Directorate to probe offshore money laundering scheme, devised to pilfer out a part of NSEL scam proceeds, that go way beyond the Rs 5600 crore the scam ridden spot exchange owes to 13000 investors. 

Has Old Warhorse Subhash Chandra toyed away galloping march of Naveen Jindal to Lotus Pond, as rumors of second round of patch up talks start simmering…

There is no smoke without fire.. As there are no rumors without a motivation.. The circle of life appears to be taking another turn as far as the battle between Hissar’s street smart sixty something entertainment magnate and the younger suave steel baron is concerned.

Ten days ago a small section of Delhi’s Twitteratti set ablaze the possibilities of Congressman Naveen Jindal shifting raising his Hands from the washed out party and eyeing a swift move to the blooming Lotus Pond. Two twitter addicts recklessly aimed at promoting the tweet without much success. Naveen Jindal too maintained a stoic silence on the rumor, completely ignoring a polite query from Viewology too. The silence of the Lion, who roars back with grace on any rumor, did indicate that he did not want the rumor to be nipped in the bud. While some sources pointed that a BJP MP from Jharkhand was trying to pave a path for his friend, highly reliable sources also pointed that this BJP MP has no say whatsoever in the current chess board of power.

Many gossipmongers laughed it out, some questioning morals of the “do everything right” MP pre-coalgate, others slamming BJP’s face to invite a coal soot-ed image to their party. An aging man who spent many a sleepless nights after an impeccable attack from the Young Turk in late 2012 starting hallucinating yet again. If sources are to be believed, a visit to Delhi by Subhash Chandra has ensured that the doors of BJP do not open for Naveen Jindal in the times ahead.

Another section of people claiming to be in the know claim that the second round of peace talks between the two most famous personalities from Hissar may have commenced through an interlocutor yet again. For now it cannot be ascertained whether the disarmament talks are to keep the younger and currently weaker baron engaged or whether the veteran is genuinely interested to end it all, and start a new game with love all.

The biggest hindrance to the peaceful settlement, according to sources, is the bruised and battered ego of India’s Rupert Murdoch who has successfully managed to alienate his sub-40 heir apparent from the clutches of a sensational sting operation conducted by the Jindal camp. Even the Bidi Smoking strongman would not find it easy to convince his two top editors to give up their vengeance-laced grit to even out with the Steel Baron. If the Media Czar plays the Zee style game of cutting the two editors to size, the move may boomerang on him.

If rumors of a possible peace treaty are indeed true, why would the duo look at this option that was always available to them pre-Sting days. Zee Camp claims that many attempts were made to pacify a furious Jindal, while Jindal Camp has maintained that no bridge-building was done by Zee at the right time. Zee Campers have been persistent on their version of Naveen Jindal not budging an inch, and those days being too risky for a Subhash Chandra to open up without the risk of being Tapped and Stinged once again.

Another Zee Confidant claims that a concerted carpet-bombing exercise against Zee that was timed to trigger a series of explosions around Diwali on Subhash Chandra’s empire may have had a Naveen Jindal hand behind it. Having got a whiff of the highly secretive razing down operation from his trusted army of infiltrators, Subhash Chandra was left with no option than to take preventive protective carrot-n-stick measures to play mind games on a pensive Naveen Jindal.

On the Coal Barons end, Zee had already exposed the chinks in Jindal Steel successfully after having conducted a concerted well chalked out exercise that ended with the fateful election results on May 16th 2014. Jindal’s biggest assets of Iron Ore and Coal Mines are under serious question marks and the Power Generation Subsidiary is understood to be making more profits than the Flagship Steel firm. An old Jindal insiders attributes the bleak future ahead for JSPL to the 2-year-old stint of the new MD RaviKant Uppal, humorously branded as Jinxed by heavyweights toppled by his entry. Insiders further claim that after being free from his parliamentary duties, Jindal has taken over the grip on the business empire he once entrusted to Starched and Ironed Black-Suited Uppal. This is when Jindal realized the extent of damage that had been laden on Jindal Steel after taking on the mighty Subhash Chandra Soonafter Ravi Uppal took over as MD.

Today without a parliament seat, Naveen Jindal cannot afford to antagonize the tidal waves inside the Lotus Pond, some of them partly owing their rise to calculated benevolence of Subhash Chandra. Jindal’s biggest asset is the limitless flow of cash that can sway any political party. This weeks Dilli Chalo Andolan of Subhash Chandra would surely give him a good nights sleep after having successfully blocked any rumors of Jindal Swinging to BJP turning to a reality.

If a section of highly reliable sources are taken on Face Value, the round two of the peace treaty may just have started after the two warring chieftains realized that “A war has no winners”. The realization may well have led to the dictum of Wisdom often quoted to Admiral Yamamoto who unwillingly ordered the fateful attack on Pearl Harbour. “A brilliant man will find his way out of a war”. Yet again, its Naveen Jindal who is showing his brilliance at the right time as Subhash Chandra carefully trudges on his over-brilliant plans that would end up disappointing a powerful mediator and antagonizing an impeccable sharpshooter by the time 2015 sun rises from the east.

http://viewology.wordpress.com/2012/12/15/12-worded-precious-tweet-that-can-stop-the-war-to-usher-in-peace-zee-jindal-saga/

http://viewology.wordpress.com/2012/12/16/can-an-outlook-change-two-outlooks-zee-jindal-saga/

http://viewology.wordpress.com/2013/01/10/silence-of-the-two-lions-subhash-chandra-and-naveen-jindal-zee-jindal-saga/