Management professor investigates finds more Satyams in India

The battered outsourcing firm Satyam might have been caught red handed, or rather confessed itself about the financial irregularities, but many more have balancesheets that don't show where the money went. In a recent analysis, Sanjay Bakshi, a New Delhi-based management professor has found many more Indian firms with inexplicable financials. The recent issue of Outlook Profit magazine carries investigation into balancesheets of firms like Aftek, GTL Infra, HTMT etc.

Outlook Profit writes
Satyam may not be the only company that has siphoned off cash from its
balance sheet. Some cases where the numbers look suspicious

Jai Ho Slumdog, Danny Boyle, secular India

Saudamini Acharya

India must hail Oscars for “Slumdog Millionaire” and Smile Pinki and its non-Indian director, producers. For some time before the Oscars these two films, especially Slumdog has been discussed as not being an Indian movie. It has been criticised as portraying India in a bad light by showing ist dirty underbelly. Majority of the critics come from Bollywood, the local film industry and are big names here. Let’s listen to some of their arguments. Amitabh Bachhan, India’s most adorable movie star said Oscar is not the ultimate destination for any film and had it not been for a British filmmaker, Slumdog wouldn’t have achieved such success. He may be true, but only partially. True, Slumdog exposes India’s poverty, inhuman living, and suffering children. But would one say this doesn’t happen in India. Yes it does and should be brought to global focus. This film is not a shame for the country rather is a tool which will eradicate some inequality in our society. True, Danny Boyle didn’t cast big Indian stars in the film, but he did something with real Indian stars, the kids of the Dharavi slums in Mumbai and the vulnerable strugglers Dev Patel and Freida Pinto. He chose one big name from India, Alla Rakha Rahman, who was needed for printing the emotion of Indian slums on a global scale.
Boyle made India proud by taking the service of Rahaman and Rasool Pookutty, two Indian Muslims for his film. Both of them shined and applauded by the billion plus Indians, of which more than 80 percent are Hindu. “This is a Shiv ratree (a Hindu religious festival) gift,” in after winning Oscars. Through this Boyle managed to tell the world about India’s secular fabric effectively. Boyle still did more he got the kids from the slum to walk the red carpet, which most Indian actors dream of. Jai Ho (two Hindi words which mean let’s hail) became the global entertainment anthem for 2009. What more do we need? India and we Indians dreamt of Oscar for years. We finally got it. We should be happy rather than cribbing. Jai Ho Danny Boyle.
(Saudamini Acharya is a Mumbai-based writer)

Woody Allen finds his new star in Slumdog's Freida Pinto

Freida Pinto , the nubile Indian actor, who's riding high on the Oscar success of her debut film Slumdog Millionaire , has been been spotted and lapped up by Hollywood oldie Woody Allen for his next flick.
In an interview to a U. S. morning news programme, the 24-year-old actor thanked director Danny Boyle for landing her a role in sex and comedy magician Allen's new venture.
"Yes, it''s up (begins) in July," the Daily Express quoted her as saying.
Allen's distinctive films, which run the gamut from dramas to screwball sex comedies, have made him one of the most respected living American directors.
Allen is also credited with romancing with young actors, whom he casts in his film.
Slumdog Millionaire swept the 81st Academy awards by winning 8 honours including the Best Film.

Oscar glory puts Mumbai slums among world's favourite tourist spots

Oscar to 'Slumdog Millionaire'has brought 'Dharavi', the slum town of Mumbai into global focus. Mumbai slums have been long depicted in Bollywood movies, but the Hollywood attention has attracted international celebrities, art lovers, journalists and filmmakers into the city.

India's Economic Times writes ancouver-based art dealer Richard Trout, Dharavi is an amazing tourist spot. He watched "Slumdog Millionaire" a month ago and is now in Mumbai for five days making his way through the dingy bylanes of the Asia's largest shantytown - 175-acre Dharavi, home to more than 600,000 people.

A global online tourism vendor, Expedia.com., which has unveiled a Oscar holiday destination package, is promoting Dharavi and the city of Mumbai as one of the hottest tourism destinations this spring and summer.

Satyam up for sale; nod for management control to strategic investor

Battered software services firm Satyam board has opened the option of a strategic investor acquiring management control in it. The board of India's fourth largest outsourcing firm decided on Sunday to allow strategic investor to buy up to 31 percent equity through a preferential allotment and an additional 20 percent through a mandatory open offer as permitted by the federal Company Law Board.

'Slumdog' actress Freida Pinto dumps husband after tasting sucess, thinks moving to U.S

Freida Pinto, the female lead of 10 Oscar nomination winner, Slumdog Millionaire dumped her husband Rohan Antao, whom she wedded secretly in Goa in December 2007, a Mumai based Tabloid reported on Tuesday.
"Freida is like her film which rubbishes India," said a close friend of both Freida and Rohan. "She now finds everything about India so unacceptable..the city..the media and her husband, with whom she was deeply in love," her friend said.
Freida in another interview told Times of India thats she is planning to move to New York because Big Apple "just feels like home."
Freida earlier told Bombay Times that her small frontal assets cost her an anchor's job in a local Indian television.

Kashmir gets air connectivity, first fly to Dubai

Kashmir, the north Indian Himalayan state joined international aviation mapon Saturday. The state is a constant source of discontent between India and Pakistandue to territorial dispute. The state, which is hit with Pakistan sponsored cross-border terrorism since last two decades, is considered as one of the best tourist locales across the globe. The first Air India flight that connects Srinagar with Dubai in the Middle East, hopes to boost tourism in the state.

India wants Mahatma Gandhi's spectacles, sandals & pocket watch from New York auction

Indian politicians have waged a new age movement to save some national pride. They are trying to get back Mahatma Gandhi'sspectacles, sandals and pocket watch all up for grabs in a New York auction to be held in March.
India politics and present day culture relies heavily on Gandhiji's principle of non-violence and secularism. Gandhiji's personal articles will remain important parts of the country's political history, politicians from across different parties claim.
Mahatma Gandhi is credited with winning India's Independence from Britain in 1947. The father of the modern Indian nation was killed in 1948 by a right wing Hindu activist blaming him of appeasing Muslims and triggering the division of India and creation of Pakistan.

Petrol bomb thrown into Shahrukh Khan's house; Khan accused of Blasphemy

Shahrukh Khan, India's most celebrated movie actor tasted another wave of protest on Friday, when a petrol bomb was thrown into his house accusing him of blasphemy. Certain Islamic organizations had blamed him of inappropriately using Prophet MOHAMMED's name in a song Marjani in the recently released movie Billu.

Khan earlier had to chop the word barber from his film Billu barber, due to objections from the barer community. Khan has largely been a people's actor and immune to controversies. But since last year is in troubled waters since fighting with Salman Khan, another contemporary actor over his relationship with Aishwarya Rai, a former Miss World and Bollywood actor.

India welcomes Pakistan's admission on Mumbai attacks, wants more

India welcomed Pakistan's admission of its soil being used for planning the 26/11 Mumbai attacks. External Affairs minister Pranab Mukherjee said this is a "positive development," adding Pakistan's reply came only after India urging and petitioning them ore than four times.

Mukherjee said that Pakistan's early reaction to 26/11 was not appropriate and that "denial, diversionary tactics have characterised Pakistan's response."

The Minister stressed that the primary responsibility for 26/11 was on Pakistan. "Terror from Pakistan is a direct threat to India."

India inflation slows to a year low on oil price cut

India's wholesale price inflation , fell to a one-year low primarily on the federal government's move to cut fuel prices.
Wholesale prices climbed 4.39 percent in the last week of January from a year earlier after gaining 5.07 percent the previous week, according to government data. Economists expected an increase in the range of 4.4 and 4.5 percent.
India's central bank had intermittently slashed interest rates in the past few months to strengthen and insulate the country's economy against the world's worst financial crisis, since the great depression in the 1930s.
The repurchase rate, which has been cut four times since October, is at 5.5 percent and the reverse repurchase rate is 4 percent.
The $1.2 trillion Indian economy is likely to expand 7.1 percent in the 12 months to March 31, the government said this week.
Prices of crude oil , India's major import, have slided 60 percent in the past oone year as fuel demand global recession has dampened demand. Crude has declined from a record $147.27 a barrel on July 11, 2008.

Pakistan admits Mumbai attacks planned on its soil, Kasab Pakistani

Pakistan on Thursday acknowledged the Mumbai attacks were planned on its soil and confirmed Kasab the lone surviving terrorist is a Pakistani. This is for the first time India's Islamic neighbour accepted of its soil being used for spreading terror in India. The news came after months of denial and equivocation and coincided with the end of U.S. envoy Richard Holbrooke's four day visit to Islamabad. Political analysts claim U.S. might have coaxed Pakistan to take some responsibility of the attack so as to avoid a fullfledged backlash from nuclear armed India.

Pakistan files case against Kasab, the surviving terrorist of 26/11

Pakistan finally succumbed to international pressure and filed a case against Ajmal Kasab, the lone surviving terrorist of the 26/11 Mumbai attacks. Pakistan initially tried to cover up Kasab's nationality as Pakistani, but intense U.S. pressure and media scrutiny discovered the Pakistani roots of all the 10 terrorists who killed about 200 Indians in November.

Why Pak echoed Modi

You have no answer to this question. Pakistan surprisingly found support form an alleged Hindu hardliner, at a time when Muslims in India blame India's Islamic neighbour of Mumbai mayhem. Hounded by the U.S. diplomacy to accept its involvement in 26/11 attacks, Pakistan was quick to locate Modi as a foreign policy element with much happiness. Pakistani media, which is perpetually critical of Modi also found absolute truth and substance in his words this time.