Download Gas Wars: Crony Capitalism and the Ambanis by Paranjoy Guha Thakurta [Thakurta, Paranjoy Guha] PDF

By Paranjoy Guha Thakurta [Thakurta, Paranjoy Guha]

The brothers had fought over many matters, yet what occasionally acquired
lost within the din of the conflict cries was once an easy truth: a lot of the
tussle used to be over India's ordinary assets, approximately how the assets have been
intended to be mined, advertised and monetised. Paranjoy Guha Thakurta
shows how the simmering controversy over the wealthy traditional fuel reserves
in the Krishna-Godavari Basin boiled over right into a primetime typhoon on fuel
pricing related to the workplace of the Comptroller and Auditor basic of
India, the Ministry of Petroleum and common fuel in addition to the best
Minister?s place of work, at the same time he introduces new dimensions to it. whereas
many purposes were attributed to the cut up within the robust Indian
business family members, the Ambanis, this publication argues that the conflict among
the Ambani brothers was once principally approximately wresting regulate over reserves of
natural gasoline which are under the sea mattress alongside the basin of the 2
greatest rivers of southern India. With painstaking study, a
meticulous perusal of press reviews, in addition to a number of staggering
exclusives, fuel Wars highlights situations of crony capitalism that allowed
the Reliance workforce to blatantly make the most loopholes which have been consciously
retained within the method to learn it. at the same time the e-book tells the tale
of how the country's greatest company conglomerate has benefited from
the means govt rules are established, it lays naked the alarming
facts of a usual catastrophe ready to take place as a result of ruthless
exploitation of the country?s average assets for you to swell the
fortunes of some.              

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Extra info for Gas Wars: Crony Capitalism and the Ambanis

Example text

It became a pyrrhic family battle, which sucked in many influential Indians, from politicians and corporate leaders to bureaucrats and journalists. The tussles took place in the highest courts of the land, through public advertisements and in hundreds of published articles, features on television and on websites. Almost everyone who was someone in the country took sides in the Great Ambani War, so wide was the spread and influence of the once undivided Reliance business empire. The two brothers had fought over many issues, but what sometimes got lost in the din of the battle cries was a simple fact: much of the tussle was over India’s natural resources, about how the resources were intended to be mined, marketed and monetised.

It points out how, even when laws and policies appeared fair, rational, and reasonable, the way in which these rules and procedures were framed and implemented by bureaucrats acting at the behest of their political masters resulted in crony capitalism. This book inter alia seeks to lay bare the manner in which official contracts are made in order to allow enough room for the government to be cheated of revenue and the country’s natural resources to be siphoned off with impunity. Indeed, the government’s role in the still-continuing KG gas epic is one among many instances of ruthless exploitation of natural resources in different parts of the country and the world.

But lawyers on both sides had urged him to continue, and Justice Raveendran had agreed. However, this time round, even though the lawyers made the same plea, the judge seemed to have made up his mind to recuse himself from the hearings. Justice Raveendran remarked: ‘I know my conscience is clear. … I wish somebody would have brought it to my notice earlier. ’ On the same day, another judge of the Supreme Court, Justice Markandey Katju (who went on to become chairman of the Press Council of India), who was hearing another case that involved RIL and the government-owned Bharat Petroleum, too withdrew from that case citing his wife’s ownership of shares in RIL.

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