imbroglio

This tag is associated with 3 posts

Royal Stag versus United Breweries: Harbhajan Singh versus MS Dhoni?


Can Harbhajan Singh not take a joke?

This is the question raised by Vijay Mallya of United Breweries(UB).

The liquor magnate was slapped with a legal notice by Avtar Kaul, the Singh family  matriarch.

The distressed mother has gone on to charge the UB Group with offending the Sikh community and fostering disunity within the Indian cricket team.

The cause for offense is a UB commercial parodying Bhajji’s appearance for the Royal Stag brand from the Pernod Ricard stable.

 

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IPL scenarios under the scanner: Interesting possibilities!


LONDON, ENGLAND - AUGUST 24:  Shilpa Shetty and fiance Raj Kundra attend a photocall to launch a new product at The Tiffinbites Restaurant(Photo by Gareth Cattermole/Getty Images)

With the IPL imbroglio boiling over and culminating in the expulsion of two teams, Kings XI and Rajasthan Royals, let’s take a quick look at the scenarios that could unfold:

1> The two franchise owners could go to court thus staying the auction of players in Jan 2011. This could have the effect of jeopardising or at the least delaying IPL 4 with two possibilities arising:  one that the teams are reinstated and thus IPL 4 goes on as scheduled , with some last-minute patch-ups and glitches.

The other is that the BCCI move is upheld and Raj Kundra and Preity Zinta sustain losses on their investments. The fans of Rajasthan Royals and Punjab XI are left feeling disgruntled and the other franchisee owners are left holding their queasy tummies in the sickening realization that the BCCI is a law unto itself and business motivations can take a backseat.

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Corporate Governance


Corporate governance has been in the Indian news headlines quite recently in connection with the scam perpetrated by Raju on Satyam shareholders and employees. Interestingly,  Satyam was the recipient of numerous corporate governance awards. Just goes to prove that just because processes are in place, does not imply that the processes are being followed. The spirit of the law  is more important than the letter of the law. But then India is a nation that loves it’s forms, it’s idiosyncratic processes and customs,it’s  bureaucratic ways and any change is greeted with derision, disdain and shock. Processes are meant to be traditionalized, embedded into the culture of the company and not uprooted without a by your leave! Who minds it’s clutter?

For more laid-back news followers, Satyam was just another scandal in just another family-run business.Satyam despite all its protestations , was just that – a family-run business though it’s shares were listed on the Indian stock exchange and available via ADRs.The more engrossing and entertaining corporate scandal has been the IPL imbroglio and it’s many running installments in the Indian media rumor mill.

Now, the IPL has a governing council which is equivalent to a corporate board of directors. In theory, a board of directors is an independent body that oversees the management of the corporate body or entity. It is there to make sure that the right processes are adhered to, that due diligence is carried out while executing strategy and no hanky-panky or unethical acts are carried out by any of the top management honchos.

But in practice, this is easier said than done. Most corporate boards are appointed with inputs from the incumbent management and thus cronyism is the name of the game. The typical board is populated with members who thus tend to be hand-in-glove with top  management. This seems to have been the case with the IPL governing council. Despite the presence of luminaries such as Ravi Shastri, Sunil Gavaskar and M A K Pataudi on the governing council, the BCCI finds itself facing a scandal of gargantuan proportions with conflict of interest and high-handedness tarnishing the fabric of IPL governance.

Quote of the day:
If you can find something everyone agrees on, it’s wrong. – Mo Udall

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