Dear Friends,

First let me thank all of you to be with me for all these days, months and years. Now I am going to announce something.

This blog is my first blog that I’ve ever created. With the constant questioning by my followers, I came to discuss various topics published in this blog.

Thats how all of my blog readers and followers have been the strength behind my Blogging.

As I have been asked by my online friends and followers, hereby I am announcing that I am starting two new blogs exclusively dedicated for child labour, child abuse, growth of prostitution, etc.

The following are the two new blogs:

  1. Child Labour – Deal with the child labour in the global scenario
  2. Child Labour: Under Construction – Deal with the child labour in the construction industry and also the response by the online community towards child labour.

With all your blessings, I am starting these blogs for the social cause. I expect the same enthusiasm and encouragement from all of you.

Keep on discussing with me and suggesting me the right content to fight against child labour.

Once again I thank one and all.

Thank You.

On July 19, 2011, AP Government directed the Society for Elimination of Rural Poverty (SERP) to plan for a total expenditure of Rs. 2150 crore – Rs. 2000 crore to uplift the poor by providing land to One Lakh families under Self-Help Groups (SHG) before 2014 and Rs. 150 crore to bring one lakh poorest families above the poverty line within a year. Government also decided to extend the Community Managed Sustainable Agriculture (CMSA) program to more areas to cover one crore acres of land during the next 5 years to increase incomes of poor families.

Amid political turmoil in the South Indian State of Andhra Pradesh, Andhra Pradesh Public Service Commission has released the Group-I results. (click here to see the results). The results are pertaining to the screening tests held on September 5, 2010  and October 25, 2010 for the posts falling under Group-I services notified in the Notification No. 39/2008 and the Supplementary Notification No. 10/2009. Transformation of State Chief Ministership from Rosiah to Kiran Reddy on onside and raising Telangana agitation on the other, Y.S. Jagan, son of late Y.S. Rajashekhar Reddy (YSR) has resigned from his current Member of Parliament seat  and Vijayalakshmi, wife of YSR and mother of Y.S. Jagan has also resigned from Andhra Pradesh Assembly. Various media houses such as NDTV also published full-text of Jagan’s resignation letter to Congress Party President Sonia Gandhi. (Click here to see the resignation letter in full published by NDTV). This triggered a series of resignations from Jagan supporters shaking the Congress Party base in the State of Andhra Pradesh.

Some of the political analysts opined that the change in Chief Ministership in the state by Congress Party High Command is particularly aimed at dealing with the Telangana issue on the eve of release of a report by Sri Krishna Commission (which is about to release in the month of December 2010). At this juncture, the release of Group-I results by APPSC was viewed by some political observers as another attempt by the government to divert the students away from Telangana Issue by making them busy in preparation for their Group-I Mains Examination which is about to be held within next three months.

It is another attempt by Indian Government to diverse the profit making company, Coal India Ltd. (CIL) which had a net profit of Rs. 9,622.45 crore on total income of Rs 52,592.29 crore (source: “Coal India RHP to be filed next week”, September 24, 2010)]. It was reported, “as per the Draft Red Herring Prospectus (DRHP) filed by the company with SEBI, CIL will offer 631,636,440 shares with a face value of Rs. 10 each [Source: “CIL to file final papers for IPO tomorrow” (i.e. on September 27, 2010), September 26, 2010].

It is really astonishing to hear the news. Some of the market analysts felt that the move clearly demonstrates a situation where the Indian Government is rushing into where the angels fear to tread, particularly with respect to divest the profit making and Government controlled organization such as CIL.

This news has come up at such a time when Indian investors have not yet forget the scars created on the face of Indian share market and in the minds of Indian investors in the way of divestment of Indian Petrochemicals Corporation Ltd. (IPCL) that involved the “so-called” ‘joint and subtle’ actions of Indian Government joining hands with Reliance Industries Limited (RIL).

Earlier in February 2004, the newspaper, Indian Express mentioned, “The public offer for the shares of Indian Petrochemicals Corporation — which was taken over by the Reliance group — was oversubscribed on Day One itself.” It also reported, “In fact, the investors placed almost all the bids at the floor price of Rs 170 in IPCL which is at a significant discount to the current market price of Rs 196, according to data available with the NSE.” [Source: “On Day 1, IPCL issue oversubscribes 110%”, February 21, 2004]. However, in the subsequent period, the share price was dropped below Rs. 156. In this respect, B. Krishnakumar of Hindu Business Line opined, “A drop below Rs 156 would impart weakness and the stock could drop to Rs 140-143 range subsequently. Hold with a stop-loss at Rs 155” [Source: B. Krishnakumar, “Query corner”, May 1 2005].

However, during the initial process period of nearly 6 months, IPCL had sent the share applications to investors (who were already allotted a minimum of 100 shares) asking them to further pay an amount of Rs. 6000 so that their individual total investment would reach Rs. 23,000 and each individual investor could get extra 200 shares. It means that the investor who bought 100 shares would possess a total of 300 shares in IPCL merely by paying an excess amount of Rs. 6,000 (totaling their investment to Rs. 23,000). There was one more crucial condition to be noted in the new share application that was sent by IPCL to the investors. It was mentioned in the share application that the 200 extra shares of the individuals who are not willing to pay an excess of Rs. 6,000, would be transferred to Reliance Industries Ltd. (RIL), an Indian company that was seriously pursuing the options to buy IPCL. It made RIL to gain a hold on IPCL, which in turn restricted other corporate investors to buy IPCL. Some of the market analysts felt this move as part of strategic investment by RIL, subtly supported by the Government of India.

As the high drama in the market was going-on, it was realized by the investors that ‘The Government is fostering a number of myths to justify its disinvestment programme’ benefiting itself as well as the buyer, RIL. [Source: Prabir Purkayastha, “IPCL Disinvestment By Prabir Purkayastha”, March 29, 2008].

Even the individual investor felt that the issue of shares at Rs. 170 itself involved some sort of misappropriation. Earlier the shares were issued at Rs. 170 per share. It means, for 100 shares the investor had to pay an amount of Rs. 17,000 and for 300 shares, the actual amount to be paid by the investor should be Rs. 51,000 (170 X 300). But IPCL had issued all 300 shares merely for Rs. 23,000 (Rs. 17,000 + Rs. 6,000 additional amount). It means that the value of each share was drastically readjusted to Rs. 76.66 ps per share. (23,000 ÷ 300). Further calculations show that the investor had actually paid Rs. 7,666 for 100 shares and the remaining amount of Rs. 9,334 (Rs. 17,000 – Rs. 7,666) was actually subsided in the excess 200 shares that were said to be issued by IPCL to the individual investors. The clause that the 200 shares of individual investor who was not willing to pay the excess amount of Rs. 6,000 would be transferred to the account of RIL, made individual investors lose the amount of Rs. 9,334 for those remaining 200 shares.

Thus, according to Pratyush, a blogger, “After the merger, Reliance’s revenue will be increased from chemicals by 4 per cent to 48 per cent of the total. Later, analyst (Kenin Jain) said that one share of Reliance will be equal value of four shares of IPCL. But, according to the book value formula the ratio would be 1:2. Reliance Industries would add more than Rs 11,000 crore in its balance-sheet and Rs 1,163 crore to its profit as well” [Source: Pratyush, “IPCL’s merger with Reliance Industries would add Rs 11,000 crore in RIL’s balance sheet”, March 7, 2007].

However, it was unknown where actual amount of Rs. 9,334 belonging to the 200 excess shares of investors had gone. This matter was subtly dealt with the investors who were allotted earlier 100 shares, but not in the public. After a long time all this issue created a nightmare when all other investors including those who were not allotted earlier 100 shares came to know about this high-drama in the market.

Market watchers opined that when a company goes for public issue it might be for its further development or expansion. But in IPCL case it went for public issue and sold the public entity to RIL. They questioned the rationale behind the entire activity. They questioned the entire process saying that when the company is in profit, what was the need for the Government to sell it off, that too immediately after the public issue?

Another key issue was, as mentioned by Prabir Purkayastha, “The earlier valuation of IPCL shares suggested that 25% stakes in IPCL can be sold at a share value of Rs.160. The valuation done by the Working Group on Disinvestments — A Case Study of IPCL — based on replacement costs showed then that it should be at least Rs.265. If we take into account that with 25% share the “partner” was to be handed over control, the share value, purely by normal commercial practice, should not have been less than Rs.500 per share”. If the words of Prabir Purkayastha are to be taken into concern, then, what was the need for the Government to sell IPCL at Rs. 231 per share [Source: Shuaib M. Fakih, “Acquisition of Ipcl By Reliance”, December 29, 2006], when they were actually valued at Rs. 500 per share? Is it mean that Indian Government had favored the highly popular private companies in India like RIL or is it to reduce the loss by the Government against the sales to boast that it made a great deal?

This entire episode had shattered the faith among the investors with respect to the Government policies towards investment in Government-owned public companies. They were afraid of investing in any public company that was planned to be divested by the Government.

Coming back to the CIL issue, is it the same thing that’s going to happen in future? Is it going to create the same kind of another nightmare in the minds of investors, particularly the Indian individual investors? Let the time decide and let the investor think logically and intelligently before investing, by taking into account all the subtle policies of Indian Government and other players in such deals.

My dear investors, let’s hope for the best and prepare for the worst.

Posted by: Sagar | July 25, 2008

Bomb Blasts in Bangalore

These are the sites where the brutal bomb blasts took place, victimizing the civilian population. The sites include the Madiwala bus depot, Adugudi, Mysore road, Adugudi, Koramangla, Langford Town, Vittal Mallaya road and Richmond Town. The involvement of the terrorist organizations like SIMI and Lashkar-e-thoiba are suspected.

TERROR ATTACK? All the blasts took place with 15 minutes of each other.

Source: IBNLive.com India, dated July 25, 2008.

Title: Child labor and prostitution

Author: Carlos Quintanilla

URL: http://www.change-links.org/Prostitution.htm

Abstract: This article focuses on the negative effects of child labor, as reported by the international and domestic organizations. The United Nations Children’s Fund (UNICEF) observes that the poverty, neglect and the struggle for survival have proliferated child labor in Central America. The International Labor Organization of the Permanent Economic Commission for Latin America (CEPAL) reveals that the child labor has increased to over 15 million working in Latin American, who are living in dangerous physical, emotional and unhealthy conditions. The reports highlights that half of the children working for poor salaries are aged between 6 and 14, while the girls working as maids, end up as prostitutes after suffering from sexual abuse at the hands of their employers.

Posted by: Sagar | April 28, 2008

Effects of Child Abuse on Brain Development

Title: Childhood Abuse Changes the Developing Brain

URL: http://nospank.net/teicher.htm

Abstract: This article reveals the results of a research on the negative affects of childhood abuse and neglect in causing permanent damage to the brain structure of growing children, which shapes their perception towards life. A researchers headed by Martin H. Teicher of the McLean Hospital, Belmont, Massachusetts, identify four abnormalities in the brain. They find that the trauma of abuse induces cascade of effects, including changes in hormones and neurotransmitters, which mediate development of vulnerable brain regions. Due to this the adults who had been abused and neglected as children are more likely to experience epileptic seizures caused by changes to the limbic system, a part of the brain that controls emotions. The emotions that accompany these seizures include sadness, embarrassment, anger, mental worry and torture behind cheerful explosive laughter, serenity, fear and even the self-destructive behavior. The difference of effects on boys and girls is also discussed.

Posted by: Sagar | April 10, 2008

Afghan War 2001: Impact on Innocent Children

Title: Death Made In America: Impacts of Depleted Uranium Contamination on Afghanistan’s Children: Disturbing Photographs.

Author: Dr. Mohammed Daud Miraki

URL: http://www.globalresearch.ca/index.php?context=viewArticle&code=DAU20060509&articleId=2412

Abstract:
This is a photo essay illustrating the intensity of environmental damage caused by the contamination of depleted Uranium used by the American soldiers and its impact on Afghan children, via these photos of babies born deformed.

Posted by: Sagar | February 26, 2008

Creation of Israel: History

Title: The Struggle for a Jewish State

Author: Walter Laqueur

URL: http://pij.org/details.php?id=927

Abstract:
This is an extract from Part III of the book ‘A History of Zionism,’ by Walter Laqueur, a distinguished historian and director of the Institute for Contemporary History in London. It discusses the efforts by the international community to establish an independent state of Israel following the World War II. The United Nations General Assembly had established on May 15, 1947, an eleven member committee, known as the ‘United Nations Special Committee on Palestine,’ to investigate into the Palestinian question, make proposals for a settlement and to report back by September 1947. This article presents an account of the period which started with the proposals at the United Nations on May 15, 1947 and ended with the and the final creation and legitimization of Israel with the declaration of the State of Israel on May 15, 1948.

Posted by: Sagar | February 25, 2008

Uri Avnery

A German-born Israeli journalist, Uri Avneri has been contributing various essays on the Arab-Israeli conflict, over the years. He is a left-wing peace activist and former Knesset member, who was originally one of the members of the right-wing Revisionist Zionist movement.  The following website presents information about him and the related sites.

URL: http://en.wikipedia.org/wiki/Uri_Avnery

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