Passline Business Magazine July-August 2011

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‘W

ith a difference’ is the slogan for all the courses offered by the Holy Grace Group of Educational Institutions. Indeed, the institutions are different from many other such ones what with courses being offered right from primary classes to the postgraduate level.

Apart from eyeing rank-holders Holy Grace strives for the overall development of the pupil. Judiciously connecting curriculum and the abilities of the pupil, Holy Grace moulds the pupil as a professional rather than a mere scholar.

The institution, now a decade old, is all set to diversify into the engineering stream, with the inauguration of the BTech course for women, in August 2011.

Raju Davis Perepadan

Apart from eyeing rank-holders Holy Grace strives for the overall development of the pupil. Judiciously connecting curriculum and the abilities of the pupil, Holy Grace moulds the pupil as a professional rather than a mere scholar. The institution, now a decade old, is all set to diversify into the engineering stream, with the inauguration of the BTech course for women, in August 2011.

The beginning: The Holy Grace Group was founded in 1999 under the visionary leadership of educational entrepreneur Raju Davis Perepadan, an advocate. It came into existence under the banner of Holy Grace Foundation, a registered charitable and educational society formed with the intention of shaping the new generation adaptable to the new millennium. Holy Grace which has the slogan ‘Committed to God and the Country’ is a mission with vision to impart education that conforms to international standards.

Raju Davis Perepadan: Founder Raju Davis Perepadan, the politician-turned-educational entrepreneur, is blessed with an insight into and vision for education in order to build a complete person after the completion of the course.

He is a winner of the Swami Vivekananda National Award for his

contribution to innovation in the academic field. He received the award in 2007, along with noted personalities like the-then Chief Minister of Jammu and Kashmir Gulam Nabi Azad and former Cabinet Minister Mohan Dharia. Raju Davis is also the recipient of the Nehru Award and the Gandhian Award for his novel ideas in the education sector.

Raju Davis might have excelled in the political arena if he had not opted for the education sector. The education field has certainly gained by his entry into it.

A former President of Mala panchayat, he has done a lot of study and research, including in more than one dozen foreign countries, about the changing trends in the education sector. He started Holy Grace Public School in 2000, following his study tour of European countries to learn the education system existing there.

He sums up his institution thus: “Holy Grace continuously strives to achieve the highest quality in every sphere of activity it engages in and make its global presence felt through the highest level of performance and total dedication to shaping the pupils’ future. Our focus is to achieve this commitment by bringing in the philosophy that industry and education must coexist even while knowledge and experience continuously and dynamically keep the pupils performing at the peak level, now and in the future. Holy Grace will continue to strive to give you the best features of the global management education. Our objective is to offer worldclass programmes, designed to

help each pupil realize his/her full potential at affordable cost.”

Raju Davis established his school with a list of ‘differences’, as the catchword of the institution says. He is against a rank-focused education system and says it destroys the quality of the pupil. He has a different view of this increasing trend and says he will be happier if his pupils become bright professionals rather than rank-holders.

Every pupil, he adds, has his/her talent, and “the process of finding it out is being carried out here.”

Son of Davis Perepadan, former AICC member, Raju Davis has had his schooling at Don Bosco, Irinjalakuda. He graduated from Christ College, Bangalore, and then joined the Law College, Thiruvananathapuram. After completing his LLB course, Raju Davis became a busy lawyer at the Irinjalakuda court just before turning a full-time politician.

A member of the governing board of a number of educational institutions such as BEd college, schools and colleges, he had also served as a member of the Senate of Kerala University in his student days and is the Vice-President of the Kerala State CBSE School Management Association. May Mol, his wife, is a homemaker.

They have three daughters— Mariya, Theresa and Anna—all of whom have been frequent winners in English recitation at CBSE State festivals.

Engineering College Starting a BTech course for women is the new endeavour for the Holy Grace Group. The course is expected to begin in August 2011.

Holy Grace thinks of ‘difference’ as it starts the new institution for the engineering course. Coming after its school and MBA College, the proposed engineering college also has a lot of innovative ideas. The BTech course is affiliated to Calicut University and is approved by the AICTE.

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July 31 - August 31, 2011

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Exceptional features for BTech, MBA colleges

It is a complete industry-endorsed package, with the university syllabus at its core, and all the industry needs are strategically wrapped around as super-competency add-on modules.

Along with the BTech course, students will be taken to foreign countries to learn about industries and become part of fairs, all of which would help them much to understand world-class standards. The group aims at improving the students’ physical and mental well-being through various exercises and programmes. The BTech students will get a chance for activities such as paragliding and rap ling, under the guidance of Indian Air Force officers, in order to boost confidence.

There are a host of exceptional features or ‘differences’ in the institution, such as an ATM on the campus, executive-level physical and psychological nurturing facilities like billiards, tennis, horse-riding and yoga, as well as a full-fledged gymnasium and a swimming pool. The institution also imparts soft-skills training to the pupils to enhance their overall development. There is a well-equipped communicative English lab. Regular communicative English classes have been planned throughout the four-year BTech course.

The daily routine will be eased by regular professional entertainment and tour programmes. There will be stateof-the-art, gallery classrooms and R&D-level labs. The BTech course will have its own super-competency modules, including industrial terminology, corporate attitudes, journal reviews, weekend industrial club activities, group discussions or other additional components as demanded by industry from time to time. An annual industrial conclave has been planned as a part of the course to expose the students to international industrial standards.

A virtual library for BTech students, equipped with the most advanced IT bay, keeps them updated and profoundly informed of the happenings in the industrial world. To top it all, the EBASCONET&INSPEC PLUS e-library database, to which the institution subscribes, offers full-text reference of about two lakh volumes and articles from around the world.

Students of BTech will be given classy and comfortable on-campus facilities. Life on the campus, located in the soothingly serene greenery far from the din and bustle of the city, is matchless. Air-conditioned transportation for daily commuters will be available from Kochi, Thrissur, Guruvayur, Vypeen and other major centres.

The students of Holy Grace Group of Institutions are enriched with visits of high-profile and skilled faculty, including those from abroad. The dignitaries who have visited the institution include Swami (Dr) Parthasarathy, (Adviser to the Prime Minister on Higher Education, alumnus of the University of Chicago and visiting professor of Stanford University), and Dr Godefory Beauvalle (Professor, Ecole National Superieure des Telecommunications, Paris).

Public school Holy Grace is the trendsetter in next-generation education. Its ‘childfriendly’ CBSE School and ‘B-School with a difference’ are both the first of their kind in India. Grace Public School, the very first attempt in the education sector by Raju Davis, has now gained wide attention after pupils from faraway places, including many from Delhi, came to study in the school after realizing the school’s uniqueness. The school has classes from LKG to XII, and there are about 3,000 pupils.

The CBSE Residential School has attained huge reputation, and the number of students is going up every year.

The foundation stone of the school, started in 2000, was blessed by none other than Pope John Paul II and handed over to Raju Davis during a special audience granted to him at Rome.

The institution offers foundation courses for IIT and IAS from Standard IV onwards, and 30 percent of the time has been set apart for co-curricular activities. Its Plus-Two course has been integrated with entrance coaching that is conducted during the class time itself so that the students are not put to undue stress. Seminars are held by students after each chapter.

MBA College To offer students of Kerala worldclass education in management studies, Holy Grace launched an MBA College in 2005. The faculty includes former Vice-Chancellors. A majority of the teachers are those who have passed out from either foreign universities or the IIM. This is the only college in India offering world-class SAPERP along with MBA. (SAP is the state-of-the-art German digital technology relied on by giant corporates and business houses worldwide and has, by now, overtaken other modes of digital information processing by several miles. A good number of Indian business houses, including the Navaratnas, have shifted to this mode.

Holy Grace, the only Indian institution to do so, exposes its Management students through authorized SAP faculty to 120 hours of hands-on training as a part of the MBA programme. At any SAP centre, this much of exposure will cost the trainee Rs 2 to Rs 2.5 lakh, but the facility is offered absolutely free of cost to the Holy Grace Management students. This institute gives opportunity to all management students to visit industries in China and Singapore at no extra cost. It follows the 24x7 MNC culture and the gurukula system.

In just a few years’ time, the MBA School has been ranked the 45th best MBA college in the country, in a national-level survey conducted by Dainik Bhaskar, the largest-circulated Hindi daily in India. The school has also been ranked as one among the best 100 colleges in the country in various ratings by (AIMA 2009,10,11; Business India 2009,10,11 and Indian Management 2009,10,11). It also boasts an unbeatable record of placement, which includes one which is the highest in InPASSLINE

dia, with an annual pay of Rs 1 crore, in 2007. The companies that hire students from Holy Grace include such big names as Thomas Cook, ITC, Asian Paints, Toyota, Wipro, Samsung, HCL, PepsiCo, Techl Link (UAE), Geojit Gulf operation, Cipla, and the Tata Group. The college is affiliated to Calicut University and is approved by the AICTE. Students conduct regular surveys for various agencies and participate actively in social service such as supplying food to the patients in the Government Hospital at Mala. The surveys are mainly on gold and sanitaryware, which helps the students earn money too. Every year, the MBA College has students from Jammu Kashmir, Tripura, New Delhi, Rajasthan, Gujarat, Madhya Pradesh and Bihar.

The MBA course faculty includes distinguished personalities such as Dr Ramachandran Nair (former ViceChancellor, Kerala University), Dr Sukumaran Nair (former Vice-Chancellor, Mahatma Gandhi University) and Dr Raju Chandrasekhar (former ProChancellor, St Kitties University, US).

Learning Disability Research Centre Yet another remarkable service that Holy Grace offers is the Learning Disability Research Centre. It is run by 12 experienced people, including a psychiatrist and a psychologist. The centre provides regular training to those pupils who have difficulty in learning.

Raju Davis narrated an incident where a pupil with learning disabilities secured over 75 percent marks in both Class X and Plus-Two examinations after he was trained at the Learning Disability Research Centre. Interestingly, this boy had been refused admission by seven schools because of his disJuly 31 - August 31, 2011

ability.

Raju Davis stresses that his institution has never denied admission to any student with any kind of disability. The research wing constantly trains pupils who have problems like hyperactivity and learning disabilities.

Social commitment Raju Davis is the President of Sevanagiri Sevanalaya, an orphanage, having 50 inmates. Holy Grace conducts many charitable activities, including daily food supply to economically weaker patients in the Government Hospital at Mala. Food is being regularly supplied at noon and night for the last two years. The MBA students serve the food.

Amenities The building of the MBA College and the Engineering College is well furnished and well equipped. The Engineering College, with green building architecture and a five-star ambience, is the first of its kind in Kerala— complete with a swimming pool and billiards and squash courts. Hostel facility is provided to students in every course.

Other major features The institution insists on lightweight schoolbags. There is an ATM of the District Co-operative Bank on the campus. There are strict guidelines for appointing teachers, based on qualification as well as quality tests. Refresher courses are held frequently for the teachers. The pupils of Holy Grace are imparted computer education from a young age. According to Raju Davis, pupils of standard VI are able to work on C and C++.

To develop soft skills, a five-stage programme for every pupil is mandatory in an academic year, besides cultural programmes held in the classrooms.

-Response Feature

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PASSLINE

July 31 - August 31, 2011

From the Editor Temple treasure: little pleasure, much pressure G

od’s Own Country has become the centre of attraction once more. This time it is not for infamous reasons like hartals or paralyzing the state for pushing the silly political agendas of leaders or party cadres, which have been haunting Kerala right from its formation. There are reasons other than these also which have been keeping the state in the news. Atrocities against women and scandals of all kinds are a few hot topics that fill at least one page each of our regional media.

Editor & Publisher

VARGHESE PAUL Kochi

By the grace of Lord Padmanabha Swamy, the traditional God of the former rulers of Travancore, the royal family and the people of Kerala with their honesty and integrity have been leading a relatively peaceful and contented life. The stupendous treasure trove found in the Padmanabha Swamy temple in Thiruvananthapuram recently is valued at over Rs 1 lakh crore without considering its antique value, according to initial estimates.

If we estimate the antique value the figure will be higher several-fold. Recently some issues regarding the ownership of the fortune have surfaced. The Government version has already come out, according to which the treasure should remain with the temple and the authorities are ready to provide the necessary security needed for its upkeep and safety by spending money from the exchequer. In order to avert the wrath of certain sections of people and to get the maximum political mileage, the Government has no option. Self-styled intellectuals and social as well as religious leaders are also coming out with their opinion of the possession and utility of this sudden windfall. Readers of this column are also sure to have their views which are certainly welcome.

JINESH M.D. Ph: 9037435272

Chennai

AUGUSTINE JOSEPH Ph: 09381000534 Bangalore

JAYACHANDRAN Ph: 09886929331

As the Editor of a financial journal and an inhabitant of the state I have a different suggestion to make, considering the anaemic financial situation Kerala finds itself in. One who has watched the public debt of the state from 2004-2005 can easily say that the debt is consistently increasing year after year. According to the Achuthanandan Ministry’s 2011-2012 budget, the state’s public debt is a whopping Rs 88,887 crore. The per capita debt of a Keralite is Rs 16,074 which is very high when we compare it with that of our neighbouring states: Karnataka has only Rs 8,901, the lowest, and Andhra Pradesh and Tamil Nadu have Rs 9,991 and Rs 9,692, respectively.

Delhi

AFGANULLAH Ph: 09910498222

Manager-Marketing

When the tax revenue decreases and expenses overshoot expectations, all governments will have to go for borrowing. But the borrowed money should be used for the capital investments which give you return in the long run, instead of using it for paying interest, pension and salary. According to information available in the public domain, Kerala utilizes 76% of its revenue for the above-mentioned unproductive purposes. The new UDF Ministry headed by Oommen Chandy is going ahead with a 100-point development programme in its initial 100 days which needs millions of rupees which will only take the state out of the frying pan into the fire.

Mega-projects like Smart City, Vizhinjam Container Terminal, Metro Rail in Kochi, LNG Petronet Project and Kannur Airport are some of the projects people have been waiting for over the past decade and they need billions of rupees. The state government has been looking at the Centre for the initial funding for the commencement of the projects.

SAJAN K Keethara Publications Pvt Ltd 38/125 1st Floor, Narakathara Road, Kochi-682 035, Kerala, India.

Phone : +91 484 4027002 Marketing : +91 484 3043325 Editorial : +91 484 3043572 e-mail

I don’t want to spoil the euphoria of the readers by mentioning the financial burden foisted on the citizens by the state. My intension, as indicated earlier, is to try to convince those in authority of the desirability of using at least a portion of the fortune for the benefit of the people, the ultimate and real owners of it, instead of keeping it idle or as a showpiece by spending crores of rupees from the people’s pocket.

: passline.com@gmail.com

Readers' views

www.passlinebusinessmagazine.com

Timely editorial

Varghese Paul

Short in size, large in content Sir,

Sir, Your editorial (June 2011) is timely. Though India has several Gandhis, it has only one Gandhiji, who is the Mahatma. The Mahatma’s various forms of struggle are being imitated nowadays by many political parties, organizations and individuals. In Gandhiji’s time, there were only very few political parties and leaders. It was not just some political party or caste which supported Gandhiji’s struggles, but it was the common people who did so. The political scenario has changed a lot now, and I don’t think a Hazare or a Baba can clean the administration by their hunger strike because there will be many other Hazares and Babas to sabotage their agenda.

Moreover, we have no dearth of bills or courts to rectify administrative anomalies. Though the rulers say that law will take its course, people with power and money often take the law into their hands, leading to corruption and other crimes.

Therefore, unless and until the will of rulers changes, bills will remain ill.

Mohanraj, Thalikulam, Kannur

How fast our technology is developing! Business sectors also are coping with the changes in the scenario. The success of a business depends on the demand for its products or services. For example, Kodak camera and Kodak film once monopolized the camera and camera-film business. Now, the film cameras are vanishing, giving way to digital cameras. Technology has been shifted to mobile phones, and so a majority use mobile phones in place of cameras. Now technology gives what the consumers want. The media also makes use of this technology. Consumers want everything fast and short because of time constraints. This applies to your magazine, too, of which I am an avid reader. But I would like it to be short in size for easy handling and to be more informative by accommodating a variety of topics to enlighten the readers.

-Muhammed, Purusawalkam, Chennai.

Eye-catching cover page Sir, The PASSLINE June 2011 issue has brought out an excellent cover page that attracts the attention of the readers by picturing the new UDF Government team in a novel way. However, it would have been more enlightening to the readers had the report accommodated some quotes from the players at the helm of affairs. I suppose this shortcoming was due to the difficulty in getting comments from the new ministers. However, if the leaders of all constituent parties display sportsmanship instead of partisan political spirit, it would be good for the country.

-K Ajith, Puzhakkal, Thrissur.

ISSUES

6 A majority of experts in various fields say that the root of the problem is the Malayalis’ greed for wealth and lack of economic sense. They opine that Malayalis should learn to live with their available income. Another factor is the luxurious and ostentatious lifestyle that an increasing number of Malayalis are opting for.

What’s wrong with Passline News Service

I

t seems something is seriously wrong with the average Malayali’s psyche. Or why on earth should Malayalis willingly become sitting duck for financial fraudsters over and over again? The answer appears to be obvious: Many Malayalis are looking for ways to make easy and big money; they are not willing to take pains to make gains.

Is there anything that can be done to reverse this highly dangerous and suicidal trend?

Aswathi Rajeev (name changed), a highly paid software professional based in Bangalore, was canvassed for investing in Apple A Day Properties when the real estate company conducted a road show in Bangalore from August 19 to 21, 2006.

However, her dreams of owning a flat in her home state of Kerala lie shattered after the Apple owners abandoned the apartment construction midway.

P C Cyriac

Apple A Day has cheated its customers by giving them false promises and by publishing misleading advertisements in the media. The company has siphoned off over Rs 150 crore from the public in the name of real estate projects.

Aswathi is among the hundreds of IT professionals who have been paying EMIs of Rs 20,000-Rs 30,000 since 2006 after taking home loans to buy flats in one of the Apple A Day projects. The company has left over 800 customers high and dry. These people never thought that their dream to own a flat in Kochi would meet with such a fate.

Apple’s is one of the biggest financial frauds that Kerala has seen in recent times.

Earlier too, Kerala has witnessed a number of incidents in which gullible people were cheated, such as the Aadu-Thekku-Manchium, Total for You and LIS money-doubling schemes. Now come, apart from Apple, frauds like the Tycoon Empire International money chain and Bizarre Global Network Marketing Group money chain.

It was just recently that the police unearthed a major money chain racket called Tycoon Empire International, which ripped off nearly Rs 370 crore from investors in the

state. Tycoon Empire International, the company that has been running its money chain racket in different parts of Kerala, cheated its customers by circulating fake messages with tempting offers of getting their money multiplied within a short period.

Verizon Builders and Developers, which was allegedly running a money chain business in Kochi, defrauded its customers to the tune of Rs 5 crore.

Those who had approached Verizon Builders seeking details of flats and villas were forced to remit Rs 1,000 in Verizon Builders or Rs 6,000 in Encord Financial Services, a sister concern of Verizon Builders, after they were offered attractive returns. The Bizarre Global Network Marketing Group allegedly siphoned off money from many investors in Kerala by offering them shares in supermarket chains.

Meanwhile, many other cases are being reported at various police stations in the state almost every day.

In addition to these hoaxes, Keralites have been cheated by many visa racketeers. Director-General of Police Jacob Punnoose recently revealed that monetary frauds amounting to over Rs 1,000 crore, including money chains, have come to the notice of the state police.

Dr C J John

"The Malayalis’ mindset about lifestyle and money must change.

It is high time that that the law-enforcement agencies acted sternly, but even high-ranking police officers are acting as protectors of the cheaters."

Why do Malayalis fall prey to the tempting offers of the fraudsters?

Why don’t they learn from previous experience? Is it a psychological condition? If it is, is there a remedy? Does the Malayali need personal empowerment?

A majority of experts in various fields say that the root of the problem is the Malayalis’ greed for wealth and lack of economic sense.

They opine that Malayalis should learn to live with their available income. Another factor is the luxurious and ostentatious lifestyle that an increasing number of Malayalis are opting for.

Mr P C Cyriac, a retired IAS official and social activist, says: “The

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July 31 - August 31, 2011

7 desire to get rich quickly is not a feature found in Malayalis’ nature alone. This trait could be seen in varying degrees in people almost everywhere.

Speculative schemes like money chains, currency-doubling and the like have fascinated people elsewhere too. Instances of people getting cheated by such schemes have been reported from many countries all over the world. It is for us to educate the general public about those unrealistic schemes that are cleverly marketed by cer-

sense. This aberrant behaviour makes them easy prey to cheats.”

Dr John says that this sort of behaviour is the main reason for Malayalis getting cheated easily and also for many companies choosing Kerala to test their consumer products. Another queer trait of many Malayalis is that they criticize almost everyone and everything but they are hardly selfcritical.

political patronage too.”

“Advertisements of fraudulent companies,” says Mr Sebastian Paul, “are being carried by prominent newspapers, magazines and television channels. The so-called multi-level marketing, as such, is an illegal activity. The media is the main promoter of builders, but if a builder collapses, then the very same media will turn against the very same advertisers, and start publishing features and other stories against them. The media

the Malayali mindset? has a responsibility to protect the general public Dr John goes on to say that the and also lead them in the right direction, not with victims of financial frauds often do regard to news alone but advertisements also.” not alert their friends and relatives because it seems they He advises the public not to be carwould like their friends and ried away or be misled by advertisements relatives to get cheated, in the media, and adds: “The public must too! This had happened in check the veracity of an advertisement. the case of the Apple A Day Now the Union Ministry of Overseas Infraud. All Malayalis are supdian Affairs is conducting an intensive posed to be literate, but campaign to alert the public against visa many of them have only cheating. Ironically, the victims of visa Sebastian Paul superficial education and cheating are the very same people who hence lack the ability for balanced are aware of this sort of cheating through newsunderstanding and judicious papers and television. The Malayalis’ mindset choices. about lifestyle and money must change. It is high time that that the law-enforcement agencies acted According to Dr John, the resternly, but even high-ranking police officers are cent scams show that Malayalis acting as protectors of the cheaters.” are both victims and culprits. They have become a community which The booming real estate sector has contribcan be easily cheated. There is the uted to a large number of cheating cases. And, problem of immaturity and an attimost of them pertain to Section 420 (cheating tude that might be described as and dishonestly inducing delivery of property) of being over-intelligent. It is, in fact, the Indian Penal Code (IPC). Criminal breach of a psychological problem. A good trust, which comes under Sections 406 to 409 of businessman always takes the IPC, is another common economic calculated risk, but what offence. Most of these cases relate to most Malayalis take is criminal breach of trust by carriers, ware‘miscalculated’ risk. It is house keepers, clerks, public servants, the greed for quick money bankers, merchants or agents in respect that makes the Malayali go of a property. Statistics show that the for illegal investment opnumber of cases registered for fake curtions such as money rency notes, stamps and bank notes is M R Ajith Kumar chains and not proper and on the rise despite a crackdown on the legal means of investment. offenders.

tain people. Society must realize that there is no free lunch, that the means must be as proper as the goal itself and that moral values must be strictly adhered to.”

According to Dr C J John, chief psychiatrist of Medical Trust Hospital, Kochi, “greed for money is inherent in our society. Malayalis in general lead an extravagant life, spending money beyond their means.”

“The most glaring faults of the average Malayali,” continues Dr John, “are his greed as well as lack of logical thinking, patience and civic

In the opinion of Mr Sebastian Paul, former MP and journalist, “hardly anyone seems to be learning anything from his own experience or that of others. Though many Keralites knew that Bhutan lottery was fraudulent, they continued to buy the tickets. If they stop buying the Bhutan lottery tickets, then there is no need for a CBI inquiry. Many Malayalis will buy the tickets if and when the Bhutan lottery returns.”

“The proverb ‘Once bitten twice shy’ does not seem to be applicable to many Malayalis,” according to Mr Sebastian Paul. “Economic offences are now rampant across Kerala. There is a nexus between the fraudsters and the law-enforcement agencies. It must be noted that Apple A Day was the biggest promoter of all police projects and police events held in Kochi. The fraudsters enjoy

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July 31 - August 31, 2011

Mr M R Ajith Kumar, Kochi City Police Commissioner, remarks that “the actions of many Malayalis are motivated by greed for money and other forms of wealth. This greed is the main reason for Malayalis becoming victims in many cheating incidents.”

“A business like money chain is illegal and it is punishable under various rules,” stresses Mr Ajith Kumar. Those who join such illegal businesses as well as enrol others in them are equally punishable. Before investing their money, the people should clearly inquire about the credibility of the builders. There is a tendency among Malayalis to sign documents without reading and verifying them.”

“Anyone having any doubt about a builder can approach the police,” says the Police Commissioner. “We will then do the necessary verification.”

8

The entire nation seems to be obsessed with

By K Vijayachandran

The results of corruption study done with British assistance some six years ago reveal that Bihar with an index of 696 was found to be the most corrupt state in 2005, and Kerala, the least corrupt, with an index of 240.

Kerala is far more advanced than other states, not only in the empowerment of local governments but also in literacy, penetration of the media, incidence of class and mass organizations and awareness of democratic rights among the people.

the issue of corruption and is debating the issue of having omnipotent institutions of Lokpal at the Central and state levels for policing the corrupt state machinery. An NGO under the banner India Against Corruption (IAC) (www.indiaagainstcorruption. org) and its leaders, a group of eminent citizens describing themselves as India’s civic society, were the promoters of Anna Hazare and then Swamy Ram. They were supported to the hilt by our English-speaking media, visual as well as print, generally patronized by the elite classes living in Indian metros. National debates and discussions triggered by them had focused entirely on the policing of corruption, with the help of a large establishment, to be created anew.

Little is being discussed how to prevent or at least minimize the incidence of corruption: If policing were a solution, India could have been a corruption-free nation long, long ago.

The IAC was jointly promoted by the Fifth Estate Movement (www.5thpillar.org), another recently promoted NGO, mostly powered by NRI funds, and the Indian Chapter of Transparency International (TI), an NGO established in 1993 and headquartered in Berlin. TI (www.transparency.org) seems to be part of the global political initiative of the European Union (EU) and claim itself to be a Global Coalition Against Corruption. Its Indian Chapter, Transparency International India (TII), “is part of the Asia-Pacific Forum comprising 20 nations that include China, Sri Lanka, Bangladesh, Pakistan, Maldives and others.” TII (www.transparencyindia.org), according to its website, “is a non-government, non-party and notfor-profit organization of Indian citizens with professional, social, industrial or academic experience seeking to promote transparent and ethical governance and to eradicate corruption.”

TII seems to be intensely patronized by Navratna CPSUs and has zonal offices in almost all northern states. The Lokpal movement, spearheaded by an NGO network jointly promoted by TII and the more recent Fifth Estate Movement in the southern states, has several similarities with the recent reform movements staged in the Arab world, in style as well as content. It has opened a Pandora’s

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July 31 - August 31, 2011

box, and the massive media build-up managed by it within a few weeks has greatly embarrassed and shaken up the Indian Establishment. The ruling coalition as well as the Opposition political coalitions are under compulsion to take a stand on the galloping corruption in the country as a result of the two-decade-old economic reforms and trade liberalization programme.

Prime Minister Manmohan Singh has come out in defence of his government, saying that it (the government) is being (wrongly) described as the most corrupt in India’s history. He has blamed the media as well as institutions like the CAG for playing the accuser, the prosecutor and the judge at the same time. He told the media that there was no question of short-circuiting the parliamentary process of legislation and bringing the Prime Minister’s Office (P MO) under the scanner of the new Lokpal as demanded by the NGOs. He was quite right in upholding the values of parliamentary democracy and in not yielding to the demands put in by the international network of NGOs, well-orchestrated by a section of the local and foreign media. He asserted that Lokpal was not a panacea and that there was no question of going back to the era of licence-permit raj or ushering in a new era of police raj for eliminating corruption. In his view, the unique identification project

9 of UIDAI would “discover a new pathway to eliminate corruption and leakages in the management and distribution of various subsidies to which the people are entitled.”

The Prime Minister was trying to win back the lost confidence of India’s elite classes, on the one hand, and the global financial institutions, on the other. But such assertions were largely illogical and hardly supported by facts. For example, there was little logic in characterizing the Nehru era of planned development as mere licence-permit raj: It had helped build the technological as well as political foundations of modern India, despite its several deficiencies. Instead of reforming it to the real needs of the country, similar to what China had done, Manmohan Singh & Co implemented reform packages recommended by IBRD experts, which had opened the floodgates of corruption in almost all sectors of the national economy. His reference to police raj was an obvious diatribe against the Chinese or socialist model of development, which is getting better and better acceptance today in the context the current global crisis. Dr Singh seems to argue that parliamentary democracy, as practized in India at present, is a great virtue and that corruption is very much a part of the deal. However, this is a grossly misleading formulation and an irresponsible one from the Prime Minister.

All developed countries practise parliamentary democracy in one form or another, and their governments are counted to be more transparent and free from corruption in their dealings with the general public as well as business. True, perceptions on corruption and transparency as well as their indexation

by TI and their affiliates are likely to be influenced by their free-market culture.

Despite possible distortions, the indexes arrived at in their studies and reports may be counted as reflections of reality. The TI Report of 2010 evaluated the transparency or Corruption (Free) Perception Index of 178 countries on a 10 to 1 scale, using the reports of the World Bank and other international institutions as inputs. In this report, Denmark, New Zealand and Singapore top the list with an equal score of 9.3, whereas Somalia (1.1), Myanmar (1.4) and Afghanistan (1.4) are at the bottom of the scale.

Transparency indexes for selected countries, based on this report, are reproduced in the table for enabling a critical review.

Prime Minister Manmohan Singh has come out in defence of his government, saying that it (the government) is being (wrongly) described as the most corrupt in India’s history.

He has blamed the media as well as institutions like the CAG for playing the accuser, the prosecutor and the judge at the same time.

Transparency Index of Selected Countries for 2010 as Estimated by TI Country Composite Rank Score by TII Denmark 9.3 1 Norway 8.6 10 Hongkong 8.4 13 Germany 7.9 15 UK 7.6 20 USA 7.1 22 Taiwan 5.8 33 South Korea 5.4 39 Italy 3.9 67 Cuba 3.7 69 China 3.5 78 India 3.3 87 Egypt 3.1 98 Bangladesh 2.4 134 Pakistan 2.3 143 Russia 2.1 154 Source TI Report 2011

Indian States: Corruption Index in 2005 estimated by TII State

Index

Denmark Kerala Himachal Gujarat Andhra Pradesh Maharshtra Chattisgarh Punjab West Bengal Orissa Uttar Pradesh Delhi Tamilnadu Haryana Jharkand Assam Rajasthan Karnataka Madhya Pradesh Jammu and Kashmir Bihar

9.3 240 301 417 421 433 445 459 461 475 491 496 509 516 520 542 543 576 584 655 696

Rank 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Source: India Corruption Study 2005 by TII

Despite its claims as the world’s largest democracy, India, with a transparency rank of 87 and score of 3.1, is far more corrupt than the developed countries with market economies and practising parliamentary democracy. Hong Kong and Taiwan are placed several notches above India. None of these countries has Lokpal-type institutions for the policing of corruption, as pleaded for by India’s C i v i c Society people. However, unlike India, the US has a genuine federal Constitution that functions, and the governments of member-states, together with an efficient network of local self-governments, are accountable to people at large for most part of their social and economic needs. The US Senate and House of Representatives, unlike India’s Lok Sabha and Rajya Sabha, debate and discuss not only laws but also policies and programmes in a threadbare manner. In India, massive ecoPASSLINE

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It may be noted from the table that, apart from Hong Kong and Cuba, even mainland China was assessed by TI as more transparent and less corrupt than India.

nomic reforms and restructuring programmes were implemented with very little or no consultations with Parliament and member-states of the Union.

The governing systems in European countries are basically not much different from that of the US. They have, in addition, a system of industrial democracy that ensures the participation of workers in corporate management. Possibly, that is why the European Union (EU) countries, in general, have a better transparency score than the US. It may be noted from the table that, apart from Hong Kong and Cuba, even mainland China was assessed by TI as more transparent and less corrupt than India. All these facts simply expose the hollowness of Dr Singh’s argument that democracy and corruption go together and that nothing much could be done other than waitingfor deliverance by the UIDAI! Despite the federal character of our Constitution, our federal government has transformed itself into an all-powerful Central Government that is turning less and less transparent in policymaking and project implementation under the influence of monopoly capital and global finance. Recommendations for recasting the present Center-state relations on more rational lines, by several commissions and reform panels, including the latest one dedicated for the purpose, were simply shelved by Dr Singh & Co and the elite classes that support him. The experience of the developed countries shows that democratic decentralization of the administration, instead of policing of corruption by Lokpal, will dramatically improve the transparency as well as the efficacy of the Indian State.

The vast scope for minimizing or eliminating corruption with the help of democratic reforms is indicated by the comparative corruption indexes, compiled for various states by TII. The results of this corruption study done with British assistance some six years ago are summarized in a second table: Bihar with an index of 696 was found to be the most corrupt state in 2005, and Kerala, the least corrupt, with an index of 240. Kerala is far more advanced than other states, not only in the empowerment of local governments but also in literacy, penetration of the media, incidence of class and mass organizations and awareness of democratic rights among the people. There are plenty of lessons to be learned or simply copied from each other by the states in order to prevent or minimize corruption at various levels of governance.

Unfortunately, the eminent citizens, non-resident Indians and those of the elite classes who have come together and launched the India Against Corruption movement seem to be not bothered about these basic reforms that could prevent and minimize corruption at various levels. The omnipotent Lokpal institutions proposed by them for the policing of corruption may turn out to be a mirage of little social significance.

B-SCHOOL

10 Companies compete with each other to recruit PGDM graduates, resulting in higher salary offers to PGDM graduates. They visit MBA institutions for recruitment only after exhausting all available PGDM graduates. While the PGDM graduates are recruited directly for senior positions as they demonstrate their values and intelligence in a convincing manner, MBA graduates

By Prof S Ganesan

are recruited for lower-level beginners’ jobs. Naturally, because of this, the starting salary of a fresh PGDM graduate is several times more than the starting salary of a fresh MBA graduate. All these make PGDM institutions best-ranked in several business school surveys.

T

here are two options available for a student to pursue higher education in the management discipline. They are MBA (Master of Business Administration) and PGDM (Postgraduate Diploma in Management). An in-depth analysis of both these programmes has been made in order to assist students to choose the better of the two. This article does not take into account programmes that are either not approved by the All-India Council for Technical Education (AICTE) or those conducted by institutions that are not approved by AICTE. It is strongly suggested that the students should pursue only an approved programme in an institution approved by AICTE to ensure long-term usage of the degree.

The MBA degree, when first introduced in India, was a prestigious professional programme. It was available in a handful of institutions that were well-meaning and added value to students. However, the sheen and value of MBA got eroded deeply over the past two decades, especially after the MBA degree was started to be handled like a humanities degree programme run in affiliated colleges of universities.

Limitations of MBA programme approval: Regular MBA programmes are approved by AICTE and affiliated to a university. As against this, there are a plethora of collaborative MBA programmes that are run by many makeshift institutes that function in commercial complexes devoid of any campus. These collaborative MBA programmes are run by organizations under arrangements with a university but without approval from AICTE. MBA programmes, in general, whether regular or collaborative, are analysed in this section.

Curriculum: The curricula (syllabuses) of MBA programmes are designed by a body called Board of Studies (BoS), which has a membership of seven faculty members working in universities/affiliated colleges. Every university has a BoS in the management discipline, which meets normally once in a year. Though the board can meet many times in a year, the initiative to convene frequent meetings is not taken by the university, mainly to save money.

The meetings of the board, whenever

Powerful option for business education convened, are held for a paltry duration of two to three hours. This duration does not permit the members to have detailed reviews of the existing syllabus, to understand the need for changes or to design new syllabuses.

Moreover, the members of the board, who are normally appointed for extraneous reasons, do not have the patience and passion for curriculum design. Any drastic change in the syllabus will seriously affect many colleges that are affiliated to the university concerned. For example, a board may not suggest introduction of a new paper in the curriculum as most of the colleges may not have library books and trained faculty to teach the new paper. Keeping this in mind, boards do not go for complete revision of syllabuses; instead, they make minor cosmetic changes in them. Moreover, the office of the Controller of Examinations of universities does not encourage frequent changes in the syllabus, lest they should be put to difficulty in setting PASSLINE

question papers for conducting examinations. All these result in no significant change in the syllabus for a long time.

Business is dynamic and its environment is changing rapidly. MBA students normally study Business History rather than Contemporary Business.

Any competitive business will look for those who know contemporary business rather than those who studied business history.

Academic delivery: The colleges affiliated to a university are rated based on the number of ranks secured by their students in the university examinations. Hence colleges focus on intensive coaching of students to face university examinations. A college will be rated high only when more of its students get university ranks; high rating paves the way for collecting higher amounts of capitation fee. Most of the colleges scientifically analyse past five years’ question papers and identify some 25 questions that appear in July 31 - August 31, 2011

question papers very often. It is sure that students would comfortably pass and secure high marks if they concentrate only on the scientifically identified 25 questions. Hence colleges focus their efforts only on these very important questions, so that students can pass with high marks, bringing laurels and capitation fee to the colleges.

What is lost in the process is the professional nature of business education, resulting in making MBA education a course of study rather than keeping it a course of practice. Students passing out of colleges with such MBAs remain halfbaked theoreticians, rendering themselves unsuitable for managerial or executive positions. Even the academic autonomy granted to a few colleges has not changed the way they design their syllabus. Autonomous colleges think like their universities, and their processes are aped from universities.

Evaluation: Colleges and the university assess their students in the ratio of approximately 20:80.

11 This means that 20 out of 100 marks in each paper is decided by the college where the student studies. The university decides the remaining 80 marks in each paper. The colleges use assessment components like paper presentation, assignments, class tests etc to decide their share of 20 marks.

Most of the colleges do not assess objectively their students; instead, they set a range of 17 to 19 and fit each student within this range. Even the poor student will get about 17 marks out of 20, from the college. The colleges do this as they do not want to ‘penalize’ their students; lest colleges should lose in the rating war. The universities, which decide 80 marks per paper, conduct a three-hour examination at the end of the semester/trimester. The examinations are well-structured, making prediction of questions that might be asked easy. Passing such examinations and even securing first-class marks is child’s play. These examinations never test the intelligence of the student; rather, they test the students’ memory capacity only. Companies want to recruit only those students who pass out with intelligence; they do not want to recruit students who have only memorized knowledge. This is where MBA fails as a programme for careerminded students.

Role of the college: The role of colleges conducting the MBA course is that of a mere tutorial college, where coaching for examinations is conducted. Hard-core teaching is not to be seen in any college that is affiliated with a university. Basic subjects like chemistry, physics, history, languages etc may attach reliance on the memorizing capacity of students; professional business education programmes cannot produce better graduates unless they rely on intelligence-building.

The power of PGDM approval: The PGDM programme and institutions are approved by AICTE. A few institutions are functioning without any approval and offer unapproved PGDM programmes. Students can check the approval status from the website of AICTE: www.aicte-ind.org. The PGDM programme of approved institutions is treated as MBA degree and enjoys all the benefits of a PG degree. PGDM holders, on the strength of the PGDM possessed by them, can join government service, join any public-sector undertakings, join higher programmes like MPhil or PhD either in India or abroad, join as a professor in any government/ private college etc. The Indian Institutes of Management (IIMs) offer PGDM programmes; they do not offer the MBA degree. There are about 100 approved institutions functioning in India offering PGDM programmes, including Suguna Spark Business School, Coimbatore. Students from all parts of the country pursue PGDM programmes in this institute.

Curriculum: PGDM institutions are autonomous and enjoy 100% academic autonomy, enabling them to initiate many innovative papers in their syllabus. The autonomy provides them

with freedom in setting the most appropriate syllabus, adopt the most appropriate teaching methodology and adopt the most appropriate examination system. PGDM institutions are degree-awarding institutions and are authorized to confer the PGDM degree. Like a university, PGDM institutions have BoSs that design the syllabus. But, there are finer differences between a university BoS and a PGDM institution’s BoS. While the university BoS is common to all colleges affiliated to it, the BoS of a PGDM institution is exclusive to that institution. This means that the syllabus set by a university BoS is common to all colleges affiliated to it, whereas the syllabus set by the BoS of a PGDM institution is exclusive to that institute only. Moreover, while the university BoS is convened only once or twice in a year, the BoS of a PGDM institution is convened very often or whenever required. The BoS of a PGDM institution takes immense care in designing the syllabus and spends a lot of time to set the syllabus scientifically. The syllabus set by the BoS of PGDM institutions is very dynamic and reflect the current trends in business. Hence the PGDM students do not study Business History; they study Contemporary Business. This is possible only because of the fact that the BoS of a PGDM institution does not have any compulsions (like those of a university) in setting the syllabus. The PGDM institutions prepare themselves well in advance for the new syllabus since the syllabus-setting process is taken well in advance. The curriculum of Suguna Spark Business School is driven by the 50-year-old Suguna Group of Companies, which has established this prestigious institute. The BoS of Suguna Spark Business School has membership of top-notch professors from leading institutions like the Indian Institute of Management Bangalore, Entrepreneurship Development Institute of India, Ahmedabad, and Consultancy Development Centre, New Delhi. The BoS of Suguna Spark Business School also has membership of senior executives from manufacturing and service industries. These members meet at regular intervals, take stock of the contemporary developments and modify the SSBS curriculum to make it most modern.

Academic delivery: Institutions offering PGDM programmes do not have the pressure to make their students mark-chasing machines because their rating is not decided by the ranks secured by students; they are rated only on the basis of the value created for students. So PGDM never PASSLINE

While the MBA students are taught theories through textbooks, the PGDM students are taught the same theories through contemporary happenings in the immediate business environment.

focuses on the marks secured by students; rather it concentrates on systems that make its students intelligent.

While colleges offering MBA coach their students for university examinations, the PGDM institutions facilitate their students to learn theories through practice. Hence the scope of PGDM students is never limited to the textbooks/notes. While the MBA students are taught theories through textbooks, the PGDM students are taught the same theories through contemporary happenings in the immediate business environment. While MBA is taught through typical lectures delivered for a particular number of hours, PGDM is taught through projects, assignments, practice and case studies. This makes the PGDM students seek knowledge on their own; their time spent on completing a coursework is more than double the hours of classroom teaching, resulting in the creation of finer human resources that not only have a grip on theories but also have immense exposure to practical aspects of management. Students of Suguna Spark Business School, for example, say that project-based learning used by SSBS has made them very intelligent and has given them the utmost confidence.

Evaluation: PGDM institutions assess their students on the basis of their cumulative performance during the term. This is unlike the MBA programme where 80% assessment is based on the three-hour university exJuly 31 - August 31, 2011

amination conducted at the end. Examination is only one of the components of assessment for PGDM students. Many more components like Class Participation, Papers, Presentations, Projects, Assignments, Subject Quizzes, Viva etc, in addition to examinations, are imbibed in the examination system of PGDM institutions. All these assessment components are given more or less equal weight. Hence a PGDM student is assessed continuously throughout the coursework, making him/her alert always. Intelligence and confidence gained though this process are much more than that gained through university examinations. While the questions asked in PGDM examinations are mostly applied in nature, necessitating original thinking on the part of the students, only direct and theoretical questions are asked in university examinations – resulting in memorizing 25 to 30 oft-repeated questions, answering all questions from memory and getting good marks comfortably. Moreover, most of the PGDM examinations are conducted on the basis of ‘openbook exam’ that allows the students to refer to relevant books during the examination and write answers. However, as questions are applied in an open-book-exam, best answers come from intelligence of the students rather than from the book or from memory. This results in the creation of colossal and unmatched value to the students,

TREND

12 premacy. They seem to feel insecure. We did have big stars such as Prem Nazir, Sathyan and Jayan.

Unfortunately, big stars like Mohanlal and Mammootty at times interfere in the making of a film and they are alleged to be using their respective fans’ associations for their self-promotion.”

Passline News Service

M

alayalam cinema seems to be passing through a new phase.

Are the equations changing? Originality and strong scripts appear to be doing Malayalam films a lot of good these days.

If the current trend is any indication, the new-generation obviously likes to watch films that feature young actors. They seem to want the character and the actor to be almost of the same age, in contrast to Mohanlal and Mammootty playing characters much younger than their age. They love new themes and novel stories.

Mammootty’s recent films such as Train, August 15, Doubles and Best Actor and Mohanlal’s China Town, Kandahar, Alexander the Great and Oru Naal Varum were not widely accepted in Kerala. At the same time, the willingness of these senior stars to share screen space with both leading and young ones, especially in films like Christian

In 2010, 95 Malayalam films were released, but Mammootty and Mohanlal had acted in only 15 of them. The rest had others, including young actors, in the leading roles. Among these, Traffic, Cocktail and some others were successful at the box office since they had good scripts.

Changing face of Mollywood Brothers, China Town, and Pokkiri Raja, is being seen as a sign of their fading stardom.

Mammootty and Mohanlal have been the reigning big names of Malayalam filmdom for about three decades. From the 1980s to about 2010, their supremacy in Mollywood was formidable, and no one else could surpass them. However, the whole scenario has changed, and young actors like Prithviraj, Jayasoorya, Indrajith, Naren, Vineeth Sreenivasan, Asif Ali, Kailash and a few others are becoming more acceptable to the audiences.

Remarks director Vinayan: “Mohanlal and Mammootty are losing

making them most-sought-after by the corporate world. The students of Suguna Spark Business School acknowledge that the examination system at the school is most challenging, but, at the same time, most pleasant. They say that it has not only made them masters in all courses but also very intelligent.

Role of the college: In sharp contrast to MBA colleges, which play the role of coachers preparing students for university examinations and assuming the status of mere tutorial colleges or coaching centres, PGDM institutions play the role of value creators. There is always a healthy competition among PGDM institutions in demonstrating value created for the students since they are ranked only on the basis of value creation and not on the basis of marks secured by the students.

PGDM—recruiters’ delight: It is anybody’s guess that a PGDM programme is the most successful business education programme in the coun-

their charm. The recent success of young actors and their films is a clear indication of their gaining supremacy over these two. Youngsters like Prithviraj and Indrajith will certainly unseat them soon.”

Recently Mohanlal’s comedy in China Town had invited the ire of filmgoers since he had enacted a number of comedy roles exceedingly well earlier. Filmgoers were not very pleased with the Mammootty films released recently, either.

“Mohanlal and Mammootty,” continues Vinayan, “are both 50-plus actors and are struggling to regain their su-

try. That is why Indian Institutes of Management (IIMs) and many other discerning business schools offer PGDM and not MBA. The residential nature of PGDM (unlike MBA where days-scholars outnumber hostellers) provides an opportunity for students for group study, sharing of knowledge and to develop networks. Students graduating from residential PGDM programmes are very confident about themselves; they can withstand work pressures and workrelated stress, and have a closely-knit network of batchmates who readily come forward to help each other. This makes PGDM graduates recruiters’ delight. Hence the corporate world visits PGDM institutions first for all their HR requirements at senior levels. Companies compete with each other to recruit PGDM graduates, resulting in higher salary offer to PGDM graduates. Companies visit MBA institutions for recruitment only after exhausting all available PGDM graduates. While the PGDM graduates PASSLINE

July 31 - August 31, 2011

Sabu Cherian, President of the Producers Association, says: “The allegation that ‘superstars’ like Mammootty and Mohanlal are the hindrance to the entry of young stars to Malayalam filmdom is meaningless. They are great actors, and they don’t need any external support. However, the growing trend of the so-called new-generation films getting good reception and ‘combination’ films like Seniors and Twenty-Twenty are an exciting and welcome trend in Mollywood.”

According to Vishnu, who is working with a mobile-phone company in Kochi, the success of films such as Traffic, Manikyakkallu, Nandanam, Cycle, Makante Achan, Puthiya Mukham and Ivar Vivahitharayal shows that Malayalees will support good films.

We hope filmmakers will realize this soon.”

are recruited directly for senior positions as they demonstrate their values and intelligence in a convincing manner, MBA graduates are recruited for lower-level beginners’ jobs. Naturally, because of this, the starting salary of a fresh PGDM graduate is several times more than the starting salary of a fresh MBA graduate. All these make PGDM institutions best-ranked in several business school surveys. It is found that nearly 95% of institutions securing the top 100 ranks in such surveys are PGDM institutions.

A majority of students looking to pursue higher education in business are not aware of the PGDM option. It is high time they understood the value of PGDM and tried getting admission to PGDM programme rather than MBA, which has already gone down in value.

(Prof S Ganesan is the Director-General of Suguna Spark Business School, Coimbatore. His email ID is dg@sugunaspark.in)

13

WEALTH

By G Rama Mohanan Nair

S ree

Anantha Padmanabha Swamy Temple in Thiruvananthapuram is in the global limelight today.

Jewellery, gold, precious stones, gold coins, rare statues, art pieces etc valued at more than Rs 1,00,000 crore (about $22.5 billion) have been recovered from the secret coffers of the temple. One more chamber is yet to be opened. Speculations are there that the figure may reach Rs 8 lakh crore.

Since there is no direction from the apex court to make a valuation of the assets what is being flashed in the media is not reliable information. The real picture will emerge only after a professional evaluation taking into consideration the antique value also of the assets is done. The members of the committee are also not expected to make any comments publicly about their findings to the media. Their mandate is only to take an inventory of all holdings and make a report to the apex court.

But the news about what is happening here is being spread all over the world and live discussions are taking place in cyber space.

I have done a lot of literature survey, referred to many global sites and gone through the debates that are going on there before writing this article as the subject is very sensitive. I have also collected the views of all my knowledgeable friends and relatives to come to a consensus.

Treasure can be used for society’s good There is a consensus among all that the treasure found in the Sree Padmanabha Swamy Temple in Thiruvananthapuram should not be kept buried for generations like this. For centuries it had been of no use to anyone. There are ways we can make this enormous wealth useful to society without depleting any of the valuable assets. Just like other temple trusts which are doing many social services, the Sree Padmanabha Swamy Temple Trust should also venture into useful services to society. able path of our former rulers should open the eyes of those, especially of people in power, who today indulge in corruption, looting and crooked ways to snatch others’ property, cause scams and amass black money.

It was in 1729 that Marthandavarma Maharaja took over as the ruler of Travancore. During 1737 to 1758 he could expand his kingdom by attaching several small kingdoms in the

severely damaged in a fire. For nearly 105 years the festival of Thulamasam (Malayalam era) could not be conducted. Marthandavarma restarted it and one more similar festival in Meenamasam was introduced. Each festival lasted for 10 days. The Murajapam conducted once in six years lasted for 56 days. Each month there would be one festival or another.

Over and above this he conducted 16

The exact date of construction of this temple is still unknown. But there were references to the temple in the writings of Alwars in the 6th-8th- century AD. But renovations continued till the 18th century. How so much of wealth escaped the eyes of various invaders like Tipu Sultan, the Dutch and the East India Company is a mystery.

The Travancore royal family deserve a most respectful tribute for having kept such enormous wealth safely guarded and preserved it for their most revered deity. They even surrendered their kingdom before the God and served the people as ‘servants’ (daasas) of their Lord. They themselves in spite of being the kings chose to lead a humble life. Such examples are very rare anywhere else in this world. This vener-

neighbourhood, including Kochi. The Kozhikode Samoothiri also accepted the supremacy of Marthandavarma.

Marthandavarma spent a lot of money on maintenance of his army and on religious rituals. It is recorded in history that he reconstructed the Padmanabha Swamy temple which got PASSLINE

daana karmas, all very expensive functions during which free gifts (daanam) to Brahmins from all over the country were lavishly given. The king was spending all this money from state coffers.*1 He was succeeded by Rama Varma Maharaja (1758-1798). During July 31 - August 31, 2011

his period the state went into heavy debts. It is recorded that the king borrowed heavily from traders/rich varthakas of Bombay, Madras and Tirunelveli and from within the kingdom.

His successor Balarama Varma was only 16 years old when he was crowned king. It was recorded that during this king’s period a decision to pledge gold ornaments worth Rs 10 lakh, belonging to the king, with the Padmanabha Swami Temple and borrow that much money to wipe out part of the debts was taken.*2 The above instances were quoted here to prove that even when the kings were in the grip of heavy debts they did not dare to simply take away Anantha Padmanabhan’s money.

The last Rajapramukhan, Sree Chithira Thirunal, was a very simple person who led a humble life. I had a rare opportunity to be his host for at least half an hour while I was working in Tirunelveli. I was the Head of the Mechanical Engineering Department at Sankar Polytechnic owned by India Cements in the latter half of the 1960s.

The General Manager of India Cements, Mr. Raman, one day brought a VIP to the college, a slim person clad in a mufty (otta mundu) and cotton jubbah.

Just at the first sight I could recognize him. The GM introduced me to him and asked me to take the guest around all laboratories and workshops. The Maharaja asked me about my details.

When he learnt that I was a Malayali and that I took my postgraduate degree from the College of Engineering, Trivandrum, the king was very pleased.

Before leaving, he shook hands with me and invited me to the palace whenever I happened to be in Trivandrum.

Now coming back to the treasure, Chief Minister Oommen Chandy has made it categorically clear that the entire assets belong to the temple/deity and that the Government would provide adequate security to the temple and its assets at Government expense.

THE ECONOMY

14

Fuelling inflation I

By Dr C T George

In India, firstly the Government itself derails the principle of price stability by increasing the price of petrol, diesel, kerosene and cooking gas at frequent intervals.

This is absurd. Secondly the Reserve Bank of India periodically increases the repo and reverse repo rates and tampers with the CRR, SLR and BR. This increases the rate of interest on loans and makes borrowing a punishment with higher penalty especially on those who have borrowed for a long-term commitment of instalmentrepayments such as home loans.

ncreasing prices is the concern of every person especially of the middle class and below. Price stability is the most important requirement of a monetary policy, that is to say, demand and supply need to be matched on an ongoing basis. It warrants comprehensive and effective monitoring of market movements 60 minutesX24 hours X 7 days. But in India, firstly the Government itself derails the principle of price stability by increasing the price of petrol, diesel, kerosene and cooking gas at frequent intervals. This is absurd. It appears that by the turn of this year (2011), a domestic cooking gas cylinder will cost Rs 600 and we can expect pro rata increase in the prices of petrol, diesel and kerosene. Secondly the Reserve Bank of India periodically increases the repo and reverse repo rates and tampers with the CRR, SLR and BR. This increases the rate of interest on loans and makes borrowing a punishment with higher penalty especially on those who have borrowed for a long-term commitment of instalment- repayments such as home loans. The increasing interest burden upsets the applecart of maintaining a limited-income-cum-limited-expenditure profile of money management by individuals. One cannot meet both ends meet with the available income. In short, inflation breeds corruption. The upward revision of interest rates destroys a large number of entrepreneurs. As a whole this obnoxious policy helps banks to increase profits and pay more dividends to shareholders but in reality repayments of loans diminish and bad loans will increase. Presently banks are showing huge profits but the situation can drastically change.

The inflation we experience indicates a persistent rise in the price levels of all commodities and services.

On July 5, Mr Justice C S Rajan, a member of the team appointed by the Supreme Court, made a brief press release on the following lines: “The findings in the vaults of the temple are not of any antique or archaeological value to which the Government cannot raise any claim. These are offerings to the deity by the royal family and worshippers for four to five centuries and have been preserved by the temple administration very securely so far under the patronage of the royal family. Hence these treasures belong to the temple only. An interim report is being given by the team to the Supreme Court to this effect. No efforts seem to have been made to pilfer or take away the treasures so far as alleged in the court by the present petitioner. No valuation has been done so far and the reports on the value are the imagination of the media and some self-styled experts. The valuation of the findings will be done only with the order of the Supreme Court. Whatever treasures have been unearthed from the coffers are to be preserved there.”

The very next day the apex court expressed displeasure at the above statement and some other comments/ acts of the plaintiff, Mr T P Sundararajan, an advocate.

Mr M G S Narayanan, former Chairman of the Indian Council of Historic Research, told an English newspaper,

referring to some records: “There can be no doubt about the ownership of the treasure and its worth. Only the temple authorities, including the former Maharaja of Travancore, can decide how the money could be spent.”

The directive of the Supreme Court to exhibit these treasures in a museum is strongly resented by Hindu organizations. The reason is that whatever security provided to the museum can be targeted by terrorists. History has recorded that many valuables have been stolen from such museums the world over. (I remember a feature film Mission Impossible in which the hero skilfully steals a valuable exhibit from a museum using a remotely controlled robotic device. Technology-wise the terrorist will always have the upper hand). Probably excellent photographs/videographic displays of the assets can be exhibited along with other exhibits depicting Indian culture and our art forms, music, video shows and the like. An example is the Sri Swaminarayan Temple in Neasden, London, which has an exhibition ‘Understanding Hinduism’ attracting lots of tourists. (Please see its website).

And finally, let’s have a look at how such assets can be put to use for the community.

Looking at the views from various quarters, on one thing there is a consensus: the treasure should not be PASSLINE

It is not just any increase in prices of a few items. When the prices of goods rise, the price of services also rises; it is a chain effect and enables an all-round increase of prices rapidly. The prices of edible goods may fall marginally at times but the cost of services which goes up once does not return to its original level by any scale.

So inflation is a dangerous disease that accompanies our daily lives. Therefore, it is the duty of the Government to contain inflation as an economic necessity and a compelling activity. In the European Union zone, each member state has to maintain the inflation rate at the 2% or less level. This is a compulsory mandate. But it seems our experts believe that two-digit inflation is the benchmark for two-digit economic growth for us. Actions fuelling inflation are to be curbed expeditiously.

Our first national economic priority has to be agriculture first and then industry. Today borrowers are worried about interest rates because increase in rates of interest compels them to take smaller loan amounts than what are required. For instance, the increasing rate of interest shatters one’s dream of making a small home to live and die in. Presently monetary policies and fiscal measures help inflationary tendencies whereas these should have been pro-people, pro-economic activities and pro-welfare-centered schemes. Private investments and private enterprises may help to create jobs paying poor wages but wealth accumulation remains with a few.

This is not a socialistic pattern that we envisage as a fundamental principle of equitable well-being of every citizen of India. Pre-emption of wealth by vested interests is on the increase, and hence it is the Government that has to intervene urgently, bring down inflation quickly and set the course correctly.

kept buried for generations like this.

For centuries it had been of no use to anyone. There are ways we can make this enormous wealth useful to society without depleting any of the valuable assets. Just like other temple trusts which are doing many social services like Shirdi Sai Baba Trust; Sri Venkateswara Trust, Tirupati and the Amritanandamayi Math, the Sree Padmanabha Swamy Temple Trust (invariably headed by the Present Marthandavarma Raja or his nominee) should also venture into useful services to society.

1. First priority should be given to renovation of not only the Padmanabha Swamy Temple but also many other temples in the state which are unable to even conduct the daily poojas and other rituals, improving facilities for the devotees visiting the temple, padana salas (study centres) to inculcate the rich Hindu culture in the next generations and the like.

2. The assets can be used as security to raise loans for income-generating projects to which the Government can also be a party. The treasure need not be taken out from its present locations at all. (I have clarified this aspect with the Regional Director of the Reserve Bank, Thiruvananthapuram).

Housing, infrastructure, education, water transport, acquisition of properties for national highways, cultural cenJuly 31 - August 31, 2011

tres to propagate Indian value systems and mass weddings of girls from poor families could be useful avenues for consideration.

When I say this I am fully aware of the tantric restrictions on moving the assets. The tantris would argue that devaprasnams should be performed to decide on anything to be done with God’s property. That is okay, but such prasnams should not turn out to be a mockery to turn decisions to favour some vested interests as happened in Sabarimala some time ago.

We may hope that the final outcome will be beneficial to the community at large.

PS: Grateful acknowledgements to Messrs N Ravindranath, L N Sethumadhavan, S Jayathilakan, Alex (Neptune), G Gangadharan Nair and my sons Jayamohan and Biju Mohan for enriching my thoughts by their views and also editing the article. *1 ‘Marthandavarma Muthal Monroe Vare’ p104, K Sivasankaran Nair *2 Ibid p118 (The author is a former General Manager of Kerala SIDCO and is presently an industrial consultant and a social activist. <ramamohanan@gmail.com>)

FUEL PRICE

15

By Dr N Ajith Kumar

Good economics but bad politics T

What is the solution to the frequent increases in the fuel prices? This writer feels the need of the hour is strong resistance from the consumers. The Government is confident that despite the increase in LPG prices the consumption of cooking gas is not going to come down at all. Already we know people seem to have forgotten about the diesel price increase. Except for

the

fact

that

busmen are making some weak sounds asking for an increase there does not seem to be any strong protest.

he decision of the Central Government to raise diesel prices by Rs 3, kerosene by Rs 2 and LPG by a decently high Rs 50 had been the eye of a storm for many days. While it was looked upon by the opposition parties as an event which gave them an opportunity to flex their muscle power against the Government, the latter on its part showed rare adamance not to roll back the increase under any circumstances and conveniently passed the buck on to the states asking them to sacrifice a portion of their increased revenues.

The most amusing feature is that the controversy died down as fast as it emerged and the opposition seems to have forgotten about the who;e thing.

Fortunately we in Kerala were spared another hartal which we were all worried about.

From the angle of a student of economics this increase had become inevitable in the prevailing circumstances.

The Government’s decision to release petrol from the list of ‘administered prices’ in June 2010 did evoke a lot of discussion. But petrol users hardly number 15% and in spite of the product’s prices rising by nearly 23% in the past one year its overall impact on the inflation rate is hardly 0.02%. At the same time despite all these increases over the past one year, consumption of petrol has not come down one bit. The last increase in diesel prices was in June 2010 and despite pressures from different corners the Government desisted from increasing diesel prices purely because of political compulsions.

Let us now analyse the increase from the perspective of the Government and its relevance in the economic sense.

Before this increase the subsidy that was being paid to the oil marketing and distributing companies was not quite high. For every litre of diesel it was Rs 13.72; for kerosene Rs 26.16

and for LPG a whopping Rs 381 per unit of size 14.5 kgm. At the current market rate of crude oil which had been hedged for ApriJune at $108 a barrel the oil distributors were having a cash loss of Rs 456 crore a day. During this quarter the loss under this head is estimated at Rs 45,000 crore. If this situation continued in the same vein the total estimated loss for the year would be a mammoth Rs 1,66,440 crore which any institution could ill afford. Here comes the economic aspect of the increase. Too much subsidy would now have to be provided and money set apart for development would have to be used.

Under no stretch of the imagination can we look upon subsidy as development expendi-

latest estimates show that nearly a quarter of our GDP is from taxes and this by no means is a fact about which we should be proud. So the tendency to introduce taxes in one way or another is inevitable to raise revenues. Making the pan card compulsory for all transactions above Rs 50,000 and making the rules related to TDS more stringent are all indirect ways of maximizing tax revenues. The state governments on their part are evolving newer types of taxes to augment their resources.

What one just does not understand is that when sources of nontax revenues shrink the burden of the people and corporates is only going to rise in the form of taxes. Hence by denying the oil companies a

ture. Secondly public sector concerns which are running at a profit are compelled to bear losses in their cash flows and this would adversely affect their overall performance.

price increase we are instead of paying a little more for these commodities are being overburdened with direct taxes in one form or another.

One just cannot understand the vitriolic that is being spewed against the public sector oil companies for trying to minimize their cash loss. All revenues from the PSUs are ploughed back into the Government. A developing country like India which aspires to control the world by 2050 still depends on tax revenues as its most important source of revenue. In fact PASSLINE

What has given the courage for a price increase in these days of running inflation? The country is all set to enter the era of double-digit inflation. May inflation rates were provisionally fixed at 9.06% though we know that the actual inflation is likely to be much more than that.

Economists have worked out the cascading effect of the oil price increase on the inflation rate to be in the range of 0.2% to 0.3%.

July 31 - August 31, 2011

The repo and the reverse repo have been raised 10 times in the past 15 months and this has had very little impact on the inflation rate. In the midterm assessment made in June the RBI seemed to express helplessness in its monetary instruments to control the inflation rate. Only if supplies are effectively augmented can this situation be eased. The Government has taken a cue from the frequent price increases in petrol and the total lack of concern of the users of petrol who have not reduced their consumption one bit.

Now what is the solution?

This writer feels the need of the hour is strong resistance from the consumers. The Government is confident that despite the increase in LPG prices the consumption of cooking gas is not going to come down at all. Already we know people seem to have forgotten about the diesel price increase. Except for the fact that busmen are making some weak sounds asking for an increase there does not seem to be any strong protest. The reason why this writer feels that consumers should come forward is that the people of India in general are not that much affected. The lower-income groups are assured of subsidized foodgrains and it is estimated that nearly 40% of the population are economically well off. This works out to about 45 crore people. It should be remembered that with a per capita income of Rs 54,527 the people of India are not what they were five decades ago. So a diesel price increase tends to be a more political issue than an economic one.

(Dr Ajith Kumar freelance writer)

is

a

COMMODITIES

16

By Alex K Mathews

Gold Outlook remains bullish

T

he monsoon season has caused a slight dent in the price of the precious metal because of lower physical demand. During monsoon auspicious ceremonies rarely take place and there is very little demand. The recent comments from Standard & Poor’s that Greece would likely default if it follows a debt rollover plan pushed by French banks also added concerns over the stability of the Euro Zone keeping the commodity stable at lower levels despite its downtrend.

We have seen the PIIGS burdened with increasingly unstable levels of public and private debt and even some among them have seen a hefty rise in its borrowing costs. It is feared that the contagion may spread to other countries in Europe. It was not Europe alone that was feeling the heat; the mighty US too was finding it difficult to strengthen its garrisons. Recently Moody’s Investor Service had warned of putting US Government debt on review for a possible downgrade and it was followed by S&P which also warned that there was a 50% chance that it would downgrade US credit rating within three months. What made it even more wary were the comments from the US Treasury Department that the Government would be in default if the debt ceiling isn’t raised above its current $14.29 trillion by August 2, 2011.

Fuming debt problems are keeping the metal king in the top gear. Recent development took gold to a record high of $1,609.51, which came down slightly on profit-taking. But the outlook remains extremely bullish. Gold is expected to reach its 2012 target of $2,000 given the present global situation and it will be much faster if US Federal Reserves starts QE3. Another interesting fact is the increase in gold reserves. China reported a holding of 600 tonnes in 2002 and the officially reported holding according to July 2011 data is 1,054.1 tonnes and in the case of India the gold reserves were 358 tonnes in 1998 which increased to 557.7 tonnes according to July 2011 data. This data shows that major emerging countries are increasing their gold reserves as a hedge against financial crises. After the recent profit-booking, the commodity has got support at $1,575 and $1,564. On the other hand it is likely to trade higher towards $1,640 and $1,800 in the medium term.

Platinum: downward correction over Platinum has almost completed its downward correction after a decline in global ve-

hicle sales numbers. Platinum is extensively used in catalytic converters to reduce the toxicity of exhaust emissions from an internal combustion engine. As India has adopted the European emission standards, all the automobiles now come with catalytic converters and each converter requires about 1/20th of a troy ounce of platinum. A recent study on global vehicle manufacturing suggested firm demand for diesel vehicles in the next few quarters can lift the sentiment of platinum. Platinum is used in gasoline, anti-cancer drugs, fibre-optic cables, eyeglasses, fertilizers, explosives, paints and pacemakers. India and China and other developed countries widely use platinum as ornaments and its demand can exceed the supply towards the end of September when the marriage season starts. Another interesting fact is that the Japanese consumers buy approximately 85% of the world’s platinum each year according to the records pertaining to the period before the nuclear disaster. Platinum has good support at $1,742 and $1,728. The commodity has a short- term target of $1,790 and a mediumterm target of $1,846 and $2,000.

Silver: steady trends Silver, the ‘ugly sister’ of gold, has declined 5.68% from the recent rally, compared with the 1.46% fall in gold. The gold-silver ratio which indicates the required troy ounce of silver to buy one troy ounce of gold was at around 31, lowest level in 13 years indicating huge demand for silver during April 2011.

After recent monetary tightening by China the demand f o r and speculative interest in precious metals including silver has declined. To curb the speculative interest the Chinese market regulator has even increased margin requirements while committing trade on silver. It is widely expected that demand for silver in China and India may rise 30% (5,000 tonnes) in 2011. In 2010 India consumed about 2800 tonnes of silver while China imported 3,500 tonnes and the major portion is used in the industrial sector. Silver is used in the production of electronic products, jewellery and for industrial products used in medical, solar power and water purification. Given these requirements, it is expected that India’s 2011 consumption will rise to 5,000 tonnes. The metal has high correlation with gold but because of economic slowdown in the EU zone and monetary tightening by Chinese Government officials the price is expected to remain steady at current levels. The commodity has support at $36 and $33 and it has a short-term target at $41 and a medium-term target of $45 to $49.

Crude may not move above $110 Crude is the commodity which, irrespective of country, is used extensively for industrial and comPASSLINE

July June3130- August - July 31, 31,2011 2011

mercial use. In 2008 we saw crude at $147.27 and it fell along with the crisis to a level of $32. Emerging economies which recovered really fast from the slowdown helped the commodity to climb back. But as the European countries are still not out of the economic crisis, the consumption levels are dipping making it difficult for crude to move above $110.

India imports around 80% of its oil and so fluctuations in crude price will have a major impact on our fuel cost. Rising fuel cost won’t cause a fall in consumption to a great level due lack of alternative energy. Due to economic crisis in Europe, consumption fell and things are wary in the US. The commodity is having support at $95.49 and $92 while the major short-term hurdle is at $100. It can move towards $104 levels. If the European crisis spreads or worsens then we may see crude coming down towards $90 or more. The worldwide crude oil demand is estimated to grow in 2011 by 1.36 mb/d to an average of 88.18 mb/d compared with 2010 average. The demand growth is driven mainly by China.

OPEC’s crude oil production rose by 520 thousand bbl/d during June as it reached 29,601 thousand bbl/d compared to 29,081 thousand bbl/d in May. Libya’s oil production is still very low at 111 thousand bbl/d. The main reason for the increase cones from the increase in oil production quota of Saudi Arabia by 461 thousand bbl/d. Recent reports say that IEA member nations may go against offering more oil after last month’s stockpile release could not curb price rise as Saudi Arabia has been pumping oil at the fastest pace since 2006.

Rubber likely to decline Natural rubber prices may tend to decline in the short term due to higher output and lower demand from the automobile sector. The lower sale growth can directly impact the demand to a certain extent.

Thailand, the largest producer, is expected to raise output during these days, despite landslides during the monsoon showers. In India too output seems to be very high and planters who already have hoarded the products may sell desperately if the natural price falls below the psychological support price of Rs 200 a kg.

Recent studies by the Association of Natural Rubber Producing Countries have revealed that there can be tight supply conditions especially extending towards 2018. According to reports, a large number of rubber trees planted during the 1980s will have to be uprooted between 2012 and 2018, which will reduce the acreage under plantation across the world. Through the prices in the short term are weak, long-term outlook still remains positive because of higher demand from emerging countries like India and China and the price may stabilize above Rs 200 and even it may break the 2011 year highs.

17

Passline News Service

T

he real estate sector in Kerala has been going through tough times since 2008 after being hit hard by the global economic meltdown, the increase in interest rates by the banks as well as problems within.

A glut in property and delay in and shelving of proposed government projects also contributed to the slowdown in the sector. Customers have been shying away from buying new property mainly because of high interest rates and lack of confidence. To add to this, some fraudulent activities have taken place in Kerala of late. A few realty outfits have already disappeared, and some others may follow suit.

“Confidence-building measures are believed to be the immediate solution to revive the sector and to bring back customers to the scenario,’’ says Mr Raveendran V, Executive Director of the Confederation of Real Estate Developers Association of India (CREDAI) Kochi. “The promoter,” he adds, “must have constant contact with his inves-

tor and he must also regularly inform the investor of the progress of the project.

If a particular project is getting delayed, say, for eight months or one year, the investor must be well aware of it.”

However, the realty sector has not so far shown any signs of revival even in the wake of the much-hyped Smart City project, construction of which is expected to start soon. This situation is mainly blamed on the density of housing complexes in the vicinity of a project and the high cost of the dwelling units.

The recent scandal vis-à-vis Apple A Day Properties has certainly hit the industry hard and made the genuine buyer confused in choosing the genuine builder. A large number of consumers have been cheated by the company’s controversial ‘Apple Ice Project.’ It is learnt that the Apple A Day Group, which cheated the consumers, was not functioning according to government stipulations. It is reported that the group had also violated the provisions of the Coastal Regulation Zone Act. Meanwhile, the Kerala State Coastal Zone Management Authority has urged property buyers to ensure viability of the projects they select against the backdrop of the ‘Apple’ scandal.

PASSLINE

It appears that the promoters of ‘Apple’ exploited the people’s ignorance and income. It is learnt that a few investors had deposited up to Rs 45 lakh in the ‘Apple’ project without enquiring about any details, including the site of the project or the progress of work at any stage. Interestingly, the victims of the scam include highly educated people, professionals like doctors and engineers and businessmen.

Meanwhile, CREDAI has initiated a media campaign to regain the credibility of the realty sector through various awareness programmes and activities.

Says Mr Raveendran: “It is believed that around 400 companies are functioning in the real estate business in Kochi alone, and no regulatory body has been set up to curb the illegal activities in this sector. A few companies operate in and around the city either without any obligation to the government or under any organizational regulations. However, we cannot say ‘no’ to a new entrepreneur who ventures into this field. So there is the possibility of bogus companies springing up.”

The proposed Real Estate Regulation Bill 2011, initiated by the Central Government, and the regulatory measures that the Kerala Government announced recently have raised expectations among the builders amidst certain apprehensions in some quarters.

July 31 - August 31, 2011

“We are looking forward to the aftermath of the proposed Real Estate Regulation Bill, 2011, and we are optimistic that it can curb fraudulent activities. We have already given suggestions for the bill. However, we are doubtful whether it will really check all the illegal operations in the sector,” a CREDAI official has said.

According to Mr Raveendran, “in contrast to the big profits that the builders in other metros make, the builders in Kerala are getting small profit margins owing to the comparatively small buying capacity of the people. This could be one of the reasons for the breakdown of a realty company.”

The realty sector contributes huge sums to both the State Government and the Central Government by way of taxes and employment. Despite this, it is a fact that the governments have not initiated any move to protect or control the sector by enacting laws except the proposed Real Estate Regulation Bill 2011 and the State Government’s new initiative. Experts in the field opine that the scams would have been averted had the government enacted laws to check the illegal activities in the realty sector.

The media cannot wash its hands of the recent scams as it had carried advertisements of companies such as Apple A Day Properties with its eye only on the advertisement revenue and

18

Excellent living, first-rate investments Trinity Builders and Developers,

34 years of unbeatable track record

vironment to all, small or large.

Green Springs at Kanjiramattam, Mercury premium apartments at Kakkanad, Trinity World Jupiter at Kakkanad, The Garden, Aluva, Trinity Periyar Sands, Aluva, and Trinity High Grove, Kakkanad, are the ongoing projects.

a unit of Trinity Arcade Pvt Ltd, offers a comprehensive portfolio of villas and apartments in Kochi’s finest locations.

Known for its speedy quality construction, Trinity homes are fast altering the cityscape. The company has nine projects at various stages of compleC J Mathew Chairman tion in three of Kochi’s prime locaAll Trinity projects incorporate tions, including two in Kakkanad, to cater facilities like fully vitrified flooring, clubto a large chunk of the IT and IT investment house, health club, swimming pool, indoor crowd. games, party area, business cenAluva, one of the fastest-developing localities around the city, is the other location with Trinity having a waterfront apartment project as well as a super-luxury villa project.

tre, guest room, intercom, driver’s room, centralized gas supply, home theatre, Internet broadband connectivity and sovereign quality.

The reputation and credibility of the company’s promoters have Roy Joseph assured buyers that Trinity’s Managing Director projects are first-rate investments as Trinity has grown steadily since well as gracious lifestyle statements. its inception. The company’s intention is Drawn primarily from real estate and conto have sustained and managed growth by struction, Trinity’s directors are well maintaining a low debt-to-equity ratio. respected in their own fields. They The company’s success lies in its abilhave united with a vision to bring ity to attract and retain experienced quality housing to Kochi. Made up personnel with its good HR policies. of a team of individuals, passionate It is also extremely price-competitive about making excellence in the and highly quality-conscious, executhousing scenario, Trinity is the viing only premium projects packed with sion of its able directors, well remodern living amenities and providing M J Luiz spected in their own fields.

Director world-class sales and after-sales enIts project at Edappally is at one of the most vantage points of Kochi.

without bothering to verify the track record or other credentials of the companies.

The Apple A Day Properties advertisements had been published frequently in the newspapers. Television channels have exposed the nexus between the realty player and the media. The media undoubtedly has a responsibility to lead the readers in the right path through its columns. It is high time the media had a model code of conduct in publishing advertisements, which should include crosschecking the history and the background of the advertiser.

Real estate is the second largest sector in the country after agriculture in its contribution to the economy and providing employment opportunities.

Unfortunately, the government or other agencies concerned are yet to acknowledge the contributions being made by this sector. Hence the real estate sector is not even recognized as an industry either by the State Government or the Central Government.

Cooperation and inter-relation among the government, the media, the entrepreneurs and the consumers will help considerably in keeping bogus outfits off the realty sector. And, the recent incidents certainly call for discussions and efforts in that direction.

The consumer could follow these guidelines: Verify the credentials and track record of the builder before you buy your home.

The customer should monitor the progress of the work either through personal visits of the site or through

photographs or through posting on the Internet.

The customer should ask the builder more questions because more questions will fetch him more benefits.

Enquire whether the builder has completed projects on time and has fulfilled his promises earlier.

Enquire whether the builder has obtained the mandatory approvals/permits from the authorities for the project.

For example, construction of buildings in an eco-fragile zone is prohibited.

Confirm whether the builder has adhered to the terms and conditions enforced by the authorities and also make sure that the company has been issued consent by the authorities, including the local bodies.

Does the rate per square foot match the market rate?

Go through all the details regarding the agreement before signing it.

Does the project have clear title deeds that are legal? Don’t hesitate to ask the builder to show you the title deeds of the site for the project. Always remember that you are the person who spends money.

Ensure that the project has approach roads and easy reach. Don’t be hoodwinked by glitzy brochures.

Be well aware of the terms and conditions of the payment. Instead of monthly instalments, payment must ideally depend on the progress of the project.

Check whether all documents are handed over to the apartment association on time.

PASSLINE

The Yasoram Group completes 34 glorious years in the construction scenario of Kerala, with an unbeatable trackrecord of creating quality living spaces in the most-sought-after locations. The firm was launched with a noble vision to provide quality housing solutions to the general public at affordable prices way back A R S Vadhyar in 1977. Since then, Mr A R S Vadhyar, the leading light of the company, has traversed a long way, both as a pioneering construction professional and a visionary with a very successful and practical side to his visions.

Mr Vadhyar made a commitment to himself long ago to contribute constructively to society. Underlining this, he has made his mark in many social activities cutting across class and creed. He is the mastermind behind pioneering concepts like the Skycity revolutionary architectural concepts that can change Kochi’s cityscape for ever.

Mr Vadhyar is also renowned for introducing the concept of terrace farming and gardening in India, and has determined to do his best to popularize this novel idea.

Yasoram’s completed projects are Indraprasta, Santhivan, Himagiri, Kaanjanjunga, Pancha ratna, Gosreepuram, Indradhanus, Jala darshini, Samridhi, Sowparnika, Ratan, Sreyas, Tejus, Ojus, Diamond Towers, Victoria Towers,Sivadas Towers.

Praseeda Apartments, Gandhi Nagar, Kadavanthra; Valluvassery Enclave, Elamkulam; Haridas Apartments, Chottanikkara, and Lakshmi Apartments, T D Road; all in Kochi, are the ongoing projects.

Asset Homes to invest Rs 250 cr for nine new projects After completing and delivering 23 housing projects within 46 months, Asset Homes is now all set to invest Rs 250 crore for the next nine projects. Revealing this to mediapersons in Kochi recently, Mr K A Mohamed Saleem, Managing Director of the company, said Asset Homes would extend its operations to Kannur, Kozhikode, Thrissur and Kottayam after having made its presence conspicuous in Thiruvanantha puram and Kochi.

Excise Minister K Babu inaugurated ‘Asset Impulse’, the 24th completed project, near Infopark in Kochi, on July 24. The ‘Hall Mark’ apartment complex at Payyambalam beach in Kannur will be handed over in September 2011. Projects in Kochi to be

started within two months are luxury apartments at Aluva, Cheranelloor, Pallimukku, Jawahar Nagar and Palarivattom besides villa projects at Kalamassery. The company is planning to start its next project at Kanjikkuzhy in Kottyam district in the wake of the progress of the previous project. Work on Picasso Palette at Devalokam is progressing. The company is also going to launch projects in Kozhikode and Thrissur within three months. “Asset Homes is planning to enter major metros like Bangalore and Chennai. The company is going ahead with a total of 41 projects”, Mr Anil Varma K and Mr Sunil Kumar V, Directors of the company, said.

“Asset Homes bagged the ‘International Property Award 2011’ at a function held in China recently for its housing project named Casa Grande at Thevara. Ours is the only company in Kerala’s real estate sector which has received this Asset Homes Managing Director K A Mohamed Saleem and Director award,” Mr Sunil Kumar receiving the award from Stuart Shield, Chairman, InterMohamed said. national Property Awards at Longemont Hotel Shanghai.

July 31 - August 31, 2011

19

'The World' class villas from Nest Infratech

‘N est Infratech is pio-

feasible sectors also. The group today is a well-diversified global company having established business in manufacturing various verticals like electronics, RF and wireless, cable and wire harness, fibre optics, sheet metal, plastics, box build, IT and ITES, expertise in engineering software applications, business applications, insurance, GIS and call centres.

of the olden days. Nalukettu villas, meticulous in their details, are Nest’s glowing tribute to Kerala’s rich architectural tradition.

neering the concept of integrated townships in the name and style of ‘The World’. These world-class integrated townships comprise villas and apartIt is hoped that this project ments starting from Rs 20 will herald a revolution of sorts lakhs. A unique feature is the by making housing affordable Jehangir international model of inclusive to all. These towndevelopment with Mediterranean and ships will have all modern English style and contemporary and tra- world-class facilities including ditional Kerala Nalukettu villas. superior landscaping by interContemporary style is the present trend. It provides privacy, space and comfort without losing out on the security of gated community living.

The group has forayed into nontechnology businesses like food processing, mineral water and distribution.

Every division of the group has a success story to tell. The group has its own engineering college and school and also a finishing school for fresh engineers or MCAs.

national architects, large open spaces for recreation, tennis, badminton and squash courts with swimming pool, jogging Shamier tracks etc. Presently ‘The World’ concept is being launched in Aluva and shall soon be replicated in all major cities across Kerala.

A villa was originally an ancient Roman upper-class country house.

Since its origin in the Roman villa, the idea and functions of a villa have evolved considerably. Mediterranean villas are Nest Infratech is the realty characterized by their palatial and infrastructure division of interiors and imposing facades. the multinational billion-dollar They do not have open terNest Group conglomerate. races but have roofing. English Althaf Jehangir Founded in 1991 by the brothvillas were based on the Roers, Dr Javad K Hassan and man villas of earlier times and gradu- Mr N Jahangir, the Nest Group has ally they also evolved from their earlier become a multifaceted information vast sprawling areas to suburban bun- technology company with headquarters galows. in Chantilly, Virginia (US), with worldThe conventional Kerala Nalukettu wide offices in Europe, Japan, India, villas have always figured in the dreams the Middle East and Australia. of a Keralite home-seeker, more so if Nest has been able to gain a firm he is a non-resident, since they are foothold in the IT sector which in turn always nostalgic about the memories has spurred it to diversify into other

PASSLINE

It was after setting benchmarks in other segments that Nest entered the realty sector with the launch of Nest Infratech. Nest Infratech offers Marickar exclusive living options at planned locations across India. It is powered by the dynamic character and vision of its directors, Dr Javad Hassan, Chairman, Mr Jehangir, Managing Director, Mr F M Shamier Marickar (Director and CEO, Nest Infratech) and Mr Althaf Jehangir (Executive Director, Nest Group).

The Electronics City coming up at Kalamassery is among Nest Infratech’s projects. The first special economic zone in the private sector in Kerala, it is a Rs 2,500-crore state-ofthe-art project with two million sq ft of notified space for electronic hardware manufacturing and software and information technology-enabled services and 1.5 million sq ft of shopping mall space with multiplex, world-class exhibition and convention centre, five-star

July 31 - August 31, 2011

Dr Javad Hassan

Javad Hassan: the man who built the empire Dr Javad K Hassan started his career in IBM in 1968 as an engineer and went on to become the Corporate Head of Engineering and Technology at the company’s world headquarters in New York as well as the Head of its storage business.

An IEEE fellow, he joined AMP Inc, the world’s largest electronic components company, in 1988 as its Corporate Head of Technology. He diversified AMP into fibre optics and wireless technologies and built that business to an over $1.5-billion-dollar company.

He retired from AMP as President of Global Inter Connect Systems in 1988 and started his career as an entrepreneur in his own right, starting the Nest Group. hotel apartments, commercial office spaces and residential condominiums.

Orchid Park, another project, is a superluxury apartment complex in the land of letters, latex and lagoons situated in the heart of Kottayam town at Kalathipady.

Electro Ville, a luxury apartment, takes shape at Electronics City, Kalamassery, which is one of Kochi’s most elite residential neighbourhoods.

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Passline News Service

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eeting K V Zakir Hussain is like meeting old friends: he is instantly warm and extremely hospitable. When we enter the office of Mermer Italia at Feroke in Kozhikode, we will feel the purity of white everywhere as the office is painted chaste white, and radiates a pleasant and transparent atmosphere. It reflects Zakir’s ubiquitous influence and the transparency in his business.

The marble business in Kerala is worth Rs.2,000 crore a year. The tax collection by the state through the marble and granite business last year was Rs 200 crore. Today

Zakir Hussain, Chairman and Managing Director of Mermer Italia, entered business after he inherited Swadeshi Granite Pvt Ltd from his father Avarankutty Haji who founded the first full-fledged tile unit in Malabar, the Swadeshi Group of Companies. When Zakir took it over, the company was running at a loss of Rs 65 lakh. An innovative thinker and a tough competitor, he wanted to continue the legacy of his family and has been doing it for the last one decade by turning the company into what it is today—an international brand.

Mermer has factories in Feroke, Thalavadi and Hosur (Tamil Nadu), Bangalore (Karnataka) and Jaloor (Rajasthan). It also has marble quarries in Tamil Nadu.

Its global office, Mermer Swadeshi Granite Ltd, is in Hong Kong. The Singapore office is called Mermer Swadeshi Minerals. ‘’Mermer Italia is the only company in Kerala which imports marble directly from countries like Italy, Greece, Turkey and Spain. It also provides its customers with the facility of getting imported marble from anywhere in the world according to their suggestion,” says Zakir.

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Under Zakir Hussain’s leadership, Mermer Italia has tried to make people understand the world of imported marble. And it is his foresight and perseverance that has been instrumental in establishing the company as a frontrunner in the field. His experience, precision and international know-how have proven his expertise through the mammoth turnover Mermer Italia has brought to the Swadeshi Group. The lasting relationship through integrity and reliability has been strongly built on stringent quality control processes of high standards and most valued customer satisfaction.

an increasing number of people are spending lavishly on decorating their homes with imported marble flooring because they believe in the dictum, “What diamond is to a woman, stone is to a building.”

Under Zakir’s leadership, Mermer Italia has tried to make people understand the world of imported marble. And it is his foresight and perseverance that has been instrumental in establishing the company as a frontrunner in the field. His experience, precision and international know-how have proven his expertise through the mammoth turnover Mermer Italia has brought to the Swadeshi Group. The lasting relationship through integrity and reliability has been strongly built on stringent quality control processes of high standards and most valued customer satisfaction.

What is shocking, says Zakir, is that agents from Kerala are playing the role of mediators in deceiving customers in big markets like Bangalore. The Government also encourages illegal activities through its new tax norms. As a result, merchants bring marble and granite from different states in the guise of consumers in order to evade taxes.

Since its launching, Mermer has ensured that it sells only the best-quality marble. “We are committed to increasing the awareness of people about the quality of imported marble,” says Zakir. “According to international criteria, quality marble has to be polished and must have a thickness of 20mm. Genuine Italian marble can be joined with ease if it cracks. But, unfortunately, most vendors make available only second-quality products with a thickness of 14mm.”

Niza and Zakir

Bangalore and the Muslim Educational Society and member of the Nallalam Cooperative Urban Bank Ltd No. D2741 and Ys Men’s Club.

the real product at first sight. Normally granite is costlier than marble, the price varying according to quality.

Mermer Italia Building Products Pvt Ltd, which has an impressive record of four decades in the marble industry, brings marble and granite of international standards and sells them at very reasonable rates. “We are not only importing them from different countries but also exporting them to places like Hong Kong, Singapore and Sharjah,” Zakir says. “Consumers are only concerned about the price of the materials and nothing else. They go for low-cost products and end up in huge losses and getting poorquality products. Those who get cheated don’t reveal the

But the industry faces challenges too, says Zakir “Availability of genuine Italian marble importers is a big problem. Now the bulk of the marble and granite requirements by Kerala come from other states of the country, only a small portion being imported from other countries. Some people directly import them. There are certain regulations governing imports like a special import licence. The tax is also huge,” says Zakir.

“There is also a tendency by some people to bring low-quality products and sell them. But The office Swadeshi is particular about quality since we of Mermer Italia, Feroke in Kozhikode import the item directly. First-quality stones are thick and are known for their durability, though the price is high. A lot of people get cheated when they buy marble and granite, whether the items come from within the country or are imported. Consumers are unable to differentiate between good and bad. In many cases truth to others. Hence we always strive to make consumthey are induced to buy products of low quality at ers aware of this.” Mermer imports granite in the name of low prices.”

Swadeshi Granite India Pvt Ltd in Kerala. The company is Some consumers have a wrong impression about to start an exclusive cutting factory in Feroke shortly, that they can get the items at lower prices if they the first of its kind in the state. Zakir dreams of making buy them directly from places like Bangalore. Feroke the major hub of Italian marble with all varieties of This often leads them into buying things of low colours available and plans to open franchises in Kochi, quality. It is very difficult to identify Kannur and Kollam and two yards in Feroke. It is also PASSLINE

Zakir with wife Niza and children

proposed to start mobile units carrying marble and granite to families so they can have their requirements without visiting showrooms.

A frequent traveller, Zakir has visited many countries, mainly to gain international know-how. His energetic nature and his tremendous effort has brought many laurels to himself and Swadeshi, like the Krishna Menon Smaraka Award for best management expert and the Nehru Peace Foundation Award for outstanding contributions in the field of industry and commerce. The Rotary Club has honoured him with the Outstanding President Award and the Indian Junior Chamber with the Kamal Patra Award.

Zakir also occupies many honorary posts. He is the State President of Kerala State Samskarika Parishath; member of the Board of the Rotary Club, Calicut East; member of the Executive Committee of the Malabar Chamber of Commerce; life member of the Calicut Cosmopolitan Club and the Indian Granite and Marble Association; member of the Indo-German Chamber of Commerce; Treasurer of the Indo-China Economic Council; past State President of Kerala Samskarika Parishath; President of the Marble/Granite Dealers’ Association; Treasurer of Business Club; Member of FQube Order; past President of the Rotary Club of Calicut East; member of the Board of KSS IA, the Indo-German Chamber of Commerce, Board of Calicut Cosmopolitan Club and Board of Celebrities of Goodness; Patron of MES Mohammed Rafi Academy and Exclusive Football Academy; life member and Executive Committee member of the Malabar Chamber of Commerce; life member of the Calicut Agri-Horticultural Society and Kerala Arts Lovers Association; member of the Board of: Citizen Club and Indian Junior Chamber; life member of Baburaj Memorial Music Academy, the All India Granite/Marble Association, July 31 - August 31, 2011

Zakir’s wife Niza, who is the daughter of Eastern Group Chairman M E Meeran, is a master’s degree holder with ranking from Mahatma Gandhi University.

She has always been a source of inspiration and strength to her husband. Apart from being his life partner she is a Director of Mermer Italia Building Products and Swadeshi Imports and Exports. She is also a Director of the Eastern Group of Companies, Adimaly.

“I got my initial training at home. It is my endeavour to keep my legacy and traditions alive, and one way of doing that is to teach our children about them,” he says. He continues his journey

to expand the boundaries of success.

The Zakir-Niza couple have three children— Aarzoo, Aamiya and Aman.

They reside at Swadeshi Bungalow, Feroke.

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K V Zakir Hussain

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satisfies clients’ needs N

o builder knows the requirements of the people as thoroughly as Jewel Homes, having been in the building industry for over a decade.

Perhaps it is this knowledge that has helped it establish a prominent presence in the competitive realty business. Today’s homes are to be built in keeping with the need for relaxation after a day’s strenuous work schedule in our hectic life. Many builders, however, consider it a bother to penetrate into such psychological factors of customers and win their hearts.

Jewel Homes of Kochi is an exception.

Since 1997-98, Jewel Homes has been providing sensible homes satisfying all needs of its clientele—psychological, social and aesthetic. And its Managing Director, Mr P A Jihas, is not ready to compromise on the quality of his products.

Jewel Homes is a company that innovates every moment to achieve outstanding levels of excellence. It has witnessed healthy growth and finished and handed over all its products on time. Its tremendous success and popularity is due as much to the quality of its products and its competitive prices as to its people who propel the activities with great elan and aplomb.

top-notch design, state-of-the-art amenities and city conveniences well within one’s reach. Whatever be one’s dreams, they are all there, says the company. It is all set to tower up very near the Kochi bypass, next to the Ernakulam Medical Centre.

Jewel Crest View with residential apartments, off IT Road, Kakkanad, is designed on a par with international standards. It offers affordable homes featuring all the amenities, comforts and luxury that define modern-day living.

With Oak Ridge Premium Villas at Aluva, Jewel Homes is creating a verdant oasis of serenity for exceptional indiJewel River Woods waterviduals and their families to P A Jihas front luxury apartment comreside with pride and contentment. Each villa here is an elegant plex at Aluva is located on the banks home of exceptional beauty and en- of the Periyar, just 100 metres from the Aluva bypass junction. during functionality.

Jewel Nexus at Palarivattom, consisting of premium apartments, has

Jewel Richmond at Rajagiri Valley, Kakkanad, is a luxury apartment

of international quality and is at a place where the serenity of nature blends with the looming industrial hub of Kochi. It is a living space rich in life and investment potential.

Jewel Keningston premium apartments, also at Rajagiri Valley, Kakkanad, promise an inspiring ambience and all the luxuries of an ultramodern living space.

Other Jewel Homes projects are Jewel Green Courtyard, Aluva; Jewel Lexington, Kakkanad; and Jewel Water Lilly waterfront premium apartments; Jewel Capetown and Jewel Fortune Palace luxury apartments, Kottayam.

Jewel Homes also undertakes maintenance of the flats and is committed to bringing its clients the best housing solutions.

DLF Bay View: privacy wrapped in Superluxury “U

nlike during the previous elec- tinctive projects like the Vallarpadam tions, a very significant aspect of the container terminal, LNG terminal and campaign manifestos of political par- the Smart City project, which has now ties and the election speeches of lead- been revived. Improved roads, water ers during the May 2011 elections was supply and quality power coupled with that the word ‘development’ was an in- a lot of positive sentiments make Kochi separable part in them. This has an ideal place for investors brought to centre stage the reas well as the searchers of alization that the people overdwellings. whelmingly desire development The USP of Bay View, of their respective places or says Lt Gen Girish, is ‘pristates. India and Indians have vacy personalized in a now proclaimed development as superluxury residential comtheir chosen mantra. The expe- Lt Gen M G Girish plex’, and the project is rience of the elections has also meant for a very select group of upshown that those who consciously promarket clients. Most of the 300 apartvided it have carried the day,” said Lt ments in the project, 85% to 90%, are Gen M G Girish, Executive Vice-Presiwaterview apartments, fully air-condident, DLF Kerala, in an interview with tioned.

PASSLINE some time ago.

Pricing at the Bay View project Lt Gen Girish was in a jubilant starts from Rs 7,700 a sq ft with an mood after the launching of his additional charge for the waterfront superluxury apartment complex ‘Bay View’ at Marine Drive, Kochi. Accord- units. The project has given great iming to him, Bay View is the last project portance to the environment, safety and which is going to happen at Marine security apart from the cozy living style.

Drive. The launching of the project was Landscaped gardens, rainwater hartimed taking into consideration three vesting, effective waste management factors. First and foremost, the system, three-tier access control seeconomy is picking up after the slump curity system and video surveillance which lasted almost two years. Sec- at entrance and parking area are a few ondly, internationally and domestically of them. there has been a lot of impetus being given to infrastructural development in recent times. Lastly, the service sector which contributes immensely to the economic spurt is able to spend considerable amounts as it has much disposable income.

Kochi, the launching pad of all DLF projects in the State and the hub of all economic activities, is vibrant with disPASSLINE

July 31 - August 31, 2011

DLF’s ‘Infinity Tower’, the exclusive tower at New Town Heights, Kakkanad, consisting of 150 superluxury apartments, had been launched some time ago. This is a specially designed premium luxury apartment in Kakkanad with all modern amenities. It includes Plaza Center, which will have two floors of retail boutiques, a high-end retail destination.

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Heera’s homes for peaceful city life Perfect houses for a greener life N

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The Heera Group started functioning two decades ago in Goa. Having diverse business activities like property development, hotel operations, civil contracting, education and tourism-related projects, Heera has of late extended its wings to Kerala and other States too.

ents who seek luxury at affordable prices. Both the apartments are located near hospitals, educational institutions, banks, restaurants and shopping malls. Facilities like well-equipped fitness centre, children’s play area, reticulated gas connection, air-conditioned lobby, proximity censor entry card, swimming pool, jogging track etc make these projects different and add value for money.

Its enormous experience in the real estate industry has helped it to formulate and comprehend the concept of a home. It thinks that a home is not just a place, but an expression of Another aspect which is differentiating one’s individuality. A home has a soul, a char- Heera is the selection of location. The projects acter and a personality all of its own. are in the heart of the city like Heera Heera gives utmost importance to Crescent at YMR Junction, implementing this concept, focusing Nanthancode, Heera Golden Hills at meticulously on every detail and the Nanthancode near Kanakakkunnu Palclient’s needs. Quality, economy and ace, Heera Highlife at Deva swom comfort are the factors that Heera rely Board Junction and Heera Blue Bells on to achieve the needs of its clients. at Vellyambalam, all in Thiruva More than 30-lakh sq ft floor area in nanthapuram, which are marvellous 1,700 happy homes in a short span of examples of peaceful city life. They are Dr A R Babu time proves the success achieved. right in the heart of the city but not much affected by its hustle and bustle.

The Heera Home Care Division is a special wing of Heera’s services that takes care of aspects like maintenance, emergency repairs and bill/tax payments. The 24-hour division for the Residents’ Association also provides other services like customizing apartments according to the owner’s requirements and renting them out in their absence. Heera apartments are made to satisfy varying customer requirements.

Projects like Heera 4pillars at Killippalam and Heera Dreams at Sreekariyam in Thiruvananthapuram are focused on those cli-

Projects like Heera Lake Front and Heera Towers are for those who seek a peaceful environment. Facing the Akkulam Lake, one of the tourist attractions of Thiruvanantha puram, Heera Towers is a unique combination of natural beauty and luxurious lifestyle. Heera Info City is another hi-tech project, which is located near the Technopark, one of the largest technology hubs in the country.

Dr A R Babu is the Managing Director of Heera Group.

PASSLINE

oel Greenature is the pioneer in green building in Kerala which provides eco-friendly projects conforming to the ‘green’ concepts that are rapidly catching on in the building industry. With two decades of experience, Noel is today being acknowledged as one of the most credible builders in Kochi. Noel Serenia is the perfect setting for a greener life.

John Thomas

During the course of a busy life there are moments where everything seems to be just as it should be.

The sun shines. The air hums. You treasure these moments because they are rare. Now they can be yours always and easily. And you are calmed by the harmony of urban refinement and suburban style.

As part of Noel’s vision to create the way of quality life, Noel Serenia, premium apartments, promises to be a green community designed for contemporary living in a natural setting—a modern lifestyle in a haven of peace and tranquillity. The design approach is to unify a contemporary architecture with green features and all matching amenities. A neighbourhood that will be defined by wonderful greenery, wide open space, and an uplifting sense of safety, security and community.

With an uncompromising passion for quality, Noel re-scripted the dynamics of the builder-customer relationship by making the aspiring buyer an active participant in the art of house-making. Unrelenting commitment to providing immaculate designs and unique projects took Noel a notch higher. Noel attributes its success to the rightful mix of integrity, reliability and technological brilliance. “Noel initiated the green living concept for the first time ever in Kerala by introducing Greenature Villa apartments. This green initiative from Noel is aimed at fulfilling its social and corporate responsibility in a meticulous manner,’’ says Mr John Thomas, Managing Partner, and Ms Geetha John, Executive Partner, Noel Villas and Apartments.

July 31 - August 31, 2011

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Rajmahal Apartments

Kalpaka Villas

Green Emerald

Kalpaka Castle

“At a Kalpaka home, your dining space is unmatchable after-sales service—Kalpaka, which stands atop in the construction field, is where you can host many a party. From intisecond to none with a string of unique services. mate dinners with your family to formal funcOne of the fastest-growing builders in Kerala tions with your colleagues, let the ambience with over a decade of experience, Kalpaka set the right tone every time. That’s why we offer brings to its clients a splendid selection of hous- so much more than mere suggestions when it comes to designing these special spaces. ing projects at several spots in Kochi.

Kalpaka has a qualified, efficient and dedi- Make your living room the best! Showcase your cated crew behind its success by carrying out best exquisite art collection or simply let your various services including home loan assis- hair down. Let your living room tell the world tance for the clients to occupy their dream just who you are. Our designers will be only too homes. With this team of engineers, supervi- happy to do this and more for you.

The relevance of a practical and tastefully sors and others, Kalpaka ensures the timely designed kitchen can never be underestimated completion and delivery of all its housing in a modern household because here’s where projects. it all happens. The necessity of ergonomics as The company is committed to a service miswell as aesthetics in a kitchen takes on new sion that entails delivery of nothing less than import what with the modern working woman, top-notch quality and impeccable service. who would still love to cook for her family. And “At Kalpaka, the relationship with the client yet, her time is limited. And so, we can provide does not end with the structure of any kind of design from new-age a house. I believe in building modular kitchens to essential dream homes and relationships and practical workspace, or with the proud owners. And, so, combine the best of the new and Kalpaka offers the client an array old,” says Mr Sunith Vasudevan. of services so essential to every home owner. This is just to reiterTo this end Kalpaka has foate the commitment to the client”, cused its attention on the says Managing Director Sunith spheres of home building, inteVasudevan. “As a proud home rior designing, home care serowner, you should be assured of vices, after-sales services and absolute peace of mind to match home loans. the serenity of your new home. Our Kalpaka Vrindavan, Kalpaka commitment to you promises just Castle, Kalpaka JMJ, S u n i t h Va s u d e v a n that. Our expertise extends itself Kacherippady; Kalpaka Blue to our efficient Home Care SerDiamond and Red Ruby, Vyttila; vices, a unique service option offering a wide Fort Palace, Edappally; Suvarna Apartments and range of utility care and support services for Kalpaka Villas, Elamakkara; are a few among your home. Our in-house personnel provide its successful projects in and around Kochi.

ISO certification and membership of assistance in the day- to-day running of your CREDAI (Confederation of Real Estate Develhousehold, ensuring a comfortable and headopers Association of India), KCCI (Kerala Chamache-free stay. It is our ongoing endeavour to ber of Commerce and Industry), KMA (Kerala ensure that we give you more than just a mere Management Association) authenticate the house. A dream home? A dwelling you would credibility of Kalpaka Builders. like to come home to; an abode that is an exMr Sunith Vasudevan is an expert in the realty tension of who you are. And so our in-house field with more than 25 years of experience. No interior designers in consultation with you can wonder he knows what his clients’ needs are design and deliver your dream home to you on and is able to fulfil them as no other builder can. a platter.”

-Response Feature

Suvarna Apartments Red Ruby

Fort Palace

Kalpaka JMJ

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n the wake of the information technology (IT) sector making rapid strides in Kochi, Kalpaka is building homes mainly intended for people working in this and related sectors and for the middle-income group. One such significant and quality project coming up for them at Kakkanad, the IT hub where Infopark is situated and Smart City is coming up, is the Brookfield apartment complex. The project is built in such a way that the middle-income group can easily afford it. The 2/3-BHK configuration with areas ranging from 1,100 to 1,200 sq ft costs Rs 30 lakh each. The launching of Brookfield, which will have state-of-the-art amenities, is in August.

As the demand for homes in Kochi especially in Kakkanad and surrounding vicinities is increasing and supply is decreasing, homeseekers are eyeing nearby areas for their dwellings. So Kalpaka is set to begin two more projects at Mamangalam and Kadavanthara for such customers.

Kalpaka is perhaps the only company in the house-building sector which realizes that with a happy blend of history, culture, cuisine, foreign influences, NRIs, spices, plantations and breathtaking tourist attractions, Kochi is gradually gaining the world’s attention as a premium lifestyle destination. With not only the IT sector but various other industries and the transportation field also opening up in a big way, more and more people are converging on this city of opportunity and plenty.

In this scenario, where housing solutions are becoming a matter of priority and the demand for quality homes is on the upsurge, Kalpaka Builders Pvt Ltd brings you the ultimate homes of your dreams. State-of-the-art construction, top-class amenities, exclusive locales, excellent facilities and personalized service are made available to you at affordable prices.

Personal spaces are designed exclusively with you in mind. There is n amalgamation of aesthetics and intelligent design in every home Kalpaka builds and there is a choice of exciting residential addresses welcoming you to it.

Merging of quality and reliability, timely completion and delivery of projects,

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Kalpaka Blue Diamond

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Making urban life a bliss

eiken Builders has been making living a good feel rather than mere existence with its decade-long experience in the building sector. It offers togetherness of community living in the lap of nature and helps bring about harmony and fraternity among different people. Seikon provides a life close to nature, which is a rare bliss in urban life today. It is a true blessing if the conveniences of the city are blended with the refreshing ambience of green nature.

That is exactly what Seiken Builders intended while visualizing its latest villa project at Kozhikode, Seiken Courtyard. These luxury villas, inspired by nature as their tagline goes, indeed is a testimony to eco-friendly living.

Seiken Courtyard, a harmonious blend of private homes set within the ambience of community living, consists of 19 individual villas, and is atop a gentle, natural, elevated terrain, nestled in a cloak of nature.

Each villa, 1,959-2,848 sq ft, is an inspiration in design Sakhariya V K Chairman and aesthetics, crafted to Seiken Properties provide distinctive individual spaces and privacy, with a host of modern conveniences and amenities for a luxurious lifestyle.

Modern amenities including a well-appointed clubhouse, swimming pool, snooker, recreation hall, health club, Wi-Fi system, automatic remote entry system, designer landscaped garden, caretaker room, driver’s resting room and automatic streetlight set the ambience for a safe and secure upmarket social lifestyle.

Imported marble is used for the living and dining rooms while premium vitrified tiles are used in bedrooms and vitrified tiles for kitchen and work area. The master bathroom is designed

with imported marble and designer ceramic tiles.

All the bedrooms and living rooms have provision for TV while there is provision for telephone in all bedrooms, living and dining rooms and the kitchen. All the toilets are embellished with superior-quality chrome-plated fittings along with provision for geyser. The kitchen has provision for water purifier and dishwasher. Facilities like perimeter compound security system, video door phone system, LPG gas leak sensor, fingerprint lock system for entry door etc ensure security for living.

Located just 350 metres from Thondayadu Bypass, Seiken Courtyard lies within close proximity to reputed hospitals, educational institu-

Solare comes with new technology R

acold has introduced ‘Solare’ solar water heaters with the evacuated tube technology, engineered to provide maximum heating efficiency. Each evacuated tube is made up of two concentric high-quality glass tubes of optimum length to ensure excellent solar absorption. The inner container is insulated with hi-density injected PUF to provide maximum heat retention. The heater delivers hot water at all times.

Solar water heaters give amazing savings on electricity and power bills. They are fully guaranteed for their performance.

Their design makes them almost maintenance-free. A wellinstalled solar water heater will give you trouble-free performance for years.

The Kerala Head of the Solar Division is Mr Thrivikraman Namboodiri, Senior Engineer, Sales & Service.

Steady growth for Almonard W

Saleem C S Managing Director Seiken Properties

Siraj M K Joint Managing Director Kerala Roadways

tions, shopping complexes and commercial establishments.

Seiken Properties, a fully integrated housing development company initiated by Kerala Roadways Ltd, has been a trusted name in residential and community development projects in Kerala for over a decade. With a host of successful projects both in Kozhikode and Kochi, and over 250 extremely satisfied customers, Seiken continues its commitment to provide high-standard quality, value and efficiency in a trusted and professional manner, making each new project a beautiful home and a wonderful investment.

idely acclaimed for its fans, Almonard Pvt Ltd had a humble beginning in Mumbai 52 years ago. Its growth since has been steady, with its industrial fans commanding the No 1 position in the country today. The company has also started its home appliances division with mixer grinder, water heater, pumps, irons, toasters,blenders etc, which have been well received by customers.

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Various projects under this established banner with unique features and utmost security and safety in many parts of the State have stood testimony to the company’s reputation for the past 33 successful years.

‘Chalet’, a deluxe project coming up off Jawahar Nagar at Kadavanthra in Kochi, is another feather in Tanzeel’s cap. This project offers two- and three-bedroom apartments with attractive amenities and facilities.

Blending style with substance, Chalet is a dream home project, says

Almonard’s pollution control division produces devices to solve industrial dust problems. The company also manufactures axial flow fans, air curtains and mancoolers for industrial purposes.

Mr P L Davis, Regional Manager in charge of Kochi and Kozhikode, has raised the sales within a short period.

the company. ‘Tanzeel Park’ at Chittoor Road, Pachalam, Kochi, an earlier project, is a superb example of Tanzeel’s craftsmanship and calibre. ‘Elbony’ at Kakkanad, another deluxe apartment project with a slew

A A Nayeem

A A Vaseem

of modern amenities, shows the distinguished workmanship of the company. Many Kochi hubs like Kacherippady, Pulleppady, Basin Road, Mullassery Canal Road and Chittoor Road are dotted with elegant Tanzeel projects.

Mr Nayeem and Mr Vaseem are the directors of Tanzeel.

PASSLINE

P L Davis

An ISO-certified company, Almonard has two branches in Kerala, one in Kochi and the other in Kozhikode.

Maker of dream homes tarted in 1978, Tanzeel Builders is a pioneer in the construction field promoting relationships through transparency, timeliness and trustworthiness through its various projects. Closely monitoring the pulse of the people Tanzeel makes dream homes according to its clients’ needs and tastes.

Thrivikraman Namboodiri

July 31 - August 31, 2011

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Service, Amrutha's top agenda A

mrutha Electricals, established in 1995 at Palakkad by Mr P Rama chandran, a veteran marketing manager of two decades’ service in major capacitor industries in the country, later entered the field of distribution of HT/LT/MF capacitors P Ramachandran and water-cooled capacitor control panels, Harmonic filters and capacitor-related equipment. Today the firm has developed into a major player in its field by dint of his dedicated service to customers and quick and reliable after-sales service. He has always been keen to ensure the best quality in his supplies and services. He attributes his success to his vast experience in the field, which enables him to solve any applicational problems of his customers. “Amrutha Electricals has gained the trust of its customers and earned a reputation in the market by its service based on ethics”, says Mr Ramachandran.

Amrutha has now diversified into new fields and developed new market areas in industrial appliances such as switchgears, control and digital analogue measuring instruments, motor starters and protection systems, automatic power factor correcting equipment, control panels, meter boards, submersible pump panels etc. It is the authorized distributor for major brands like Indo Asian, C & S, Moeller, Dhandapani, BCH, Shreem, Mahan, Power KELTRON, Samrat Sycon, Himlite, Sunny etc.

Always engaged in market research, Amrutha is on the lookout for new areas of automation in the electrical field. The promoter and his staff are service-minded and always ensure customer satisfaction.

Anu Solar has clear focus on solar energy A

P J Joseph

nu Solar Power Pvt Ltd is the result of the synergy of innovative ideas and commitment to quality by a group of dedicated technocrats.

Founded in 1979, it has grown rapidly over the last two decades with a diversified product range and a clear focus on solar energy devices.

Anu Solar has well-qualified and experienced professionals who are highly dedicated to providing suitably skilled and talented manpower to clients with a clear understanding of their specific requirements and also guiding candidates to make a worthwhile choice towards a stable career path.

The emphasis on quality has led to the company getting the ISO 9001-2000 certification of Bureau Veritas Quality International and the BIS certification. Its FPC solar water heating system panels have the quality seal of the Bureau of Indian Standards (BIS mark) and ETCbased solar water heating systems are approved by MNRE also. “More important is the faith reposed by the customers in the entire range of products,” says the company’s Managing Director, Mr P J Joseph.

During the past 28 years, the company has gained vast experience in designing and manufacturing of Solar Water Heating Systems and allied products. With a strong design and manufacturing background the company has developed itself as a leading manufacturer of solar energy systems to cater to the complete range of customer requirements.

The company has established a wide network of dealers for Anu Solar products who take up marketing and servicing of the products. The sole distributor for Kerala is Madathil Marketing at Kadavanthara, Kochi, managed by Mr Justine John.

Anu Solar also exports its products to countries like the US, UAE, Uganda, Nigeria and Ghana. It has more than 1,00,000 customers to its credit.

Builders for premium offices, elite living

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ochi having turned the cynosure of all business houses and people, hundreds of promising projects are in the offing and the demand for quality infrastructure is going to rise. To cater to this increasing demand, HiLITE Builders has come out with HiLITE Platino, a rare and precious property for premium office space. As the city centre will be moving to Maradu after the establishment of the New Bus Terminal, this office space characterized by the synergy of different kinds of corporate environments cannot be more ideally located, standing tall among various premium projects. Backed by the experience gained from actualizing some of the biggest projects in the State including Focus Mall, Kozhikode, the first shopping mall of Kerala, and HiLITE Hills, one mammoth of a project that provides ultra-luxe living spaces and top-notch office spaces, hi-lite Platino is envisaged as a state-of-the-art office complex that would bring together some of the big and better names in the current business scenario. “Needless to say, this office complex would house some of the most advanced concepts in office infrastructure, ensuring an environment that would be most favourable

for better business ideas to sprout,” says its Managing Director, Mr P Sulaiman.

The project is spread across 1.2 acres of land, 1.3 lakh sq ft office space and 1.8 lakh sq ft built-up area, seven floors and two basement car parks, centralized air-conditioning, power backup, expansive car parking facility, excellent connectivity, cafeteria and other support services.

“For once, there is a business solution that would help you cut your costs without cutting corners. What makes hi-lite Platino one of the most cost-effective business solutions is its location”, reasons its Director, Mr K P Naushad. “So close to the city, but far enough from its rushes, this is a project that can offer you a huge competitive cost advantage, both in acquiring and operating. With options of spaces ranging from 600 sq ft to 7,000 sq ft there is a space for any business, of any size”, adds another Director, Mr M A Mehaboob.

The company’s ongoing projects are hi-lite Hills including HiLITE Plaza (top-notch office spaces), hilite Residency (ultraluxe apartments), Spring Dale (luxury villas) and hi-lite Metroma in Kozhikode.

Mumtaz Homz—a household name in quality and service M

umtaz Homz manufactures and distributes highquality wooden furniture across India and abroad. It is the largest furniture showroom in the country, with exclusive designs of wooden furniture at affordable prices.

A rich array of products are shaped out of high-quality and well-tested wood at the company’s own factories in Indonesia and Malaysia.

The name Mumtaz Homz rightly stands for the latest trend in modular kitchen business in the country.

Mumtaz Homz has antique as well as contemporary pieces under one roof. While the antique furniture pieces comprise swing bedsteads, cradles and the like, the new furniture pieces include sofas, dining tables and chairs, bedroom furniture and coffee tables/ cubes tables.

The company stresses that it will not compromise on quality since quality is the key factor which distinguishes it from competitors in the field. A wide variety of products are carved out of high-quality wood like solid teak and solid mahogany and embellished with natural wood-colour polish and glossy finish. The company’s models are available in shades like rustic white, rustic black, rustic brown, live polish, mat finish and glossy finish.

Mumtaz Homz has introduced an innovative modular kitchen collection, which brings world-class modular kitchens for easier cooking in a pleasant atmosphere. With a rare blend of beauty and quality, it always shapes modular kitchens by using internationalquality raw materials. Understanding the need for reducing workload and fatigue, the modular kitchens from Mumtaz are well-created, aimed at satisfying the customer. The company’s specialties include the collection of customized wooden home, interior decoration, home planning and wall panelling.

Mumtaz Homz focuses on being a trendsetter rather than a trend follower. This principle keeps the company’s innovative senses open to new ideas in order to make living cosier and stylish. With over two decades of business experience, Mumtaz Homz possesses a good understanding of the aspirations of society. By integrating a touch of aristocracy with quality wood, Mumtaz Homz presents furniture, made of solid wood that lasts a lifetime.

By using teak and mahogany, the company emphasizes medicinal and health benefits of wood. It also gives life-long durability. With its anti-fungal and antiPASSLINE

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bacterial properties, teak and mahogany have good power of resistance against diseases and parasites.

In addition, through ethical methods, the company maintains the natural finish for furnishings rather than oiling them for a smooth look.

Wood-panelling is one way to give homes and offices a new look. It functions like a real wall to divide or cover an area. The wood-panelling system is designed for interior finishes such as wainscots and wall-panelling. The panelling system is used exactly like any hardwood-panelling in interior-finish applications. Wall-panelling can be done at significantly lower costs.

Mumtaz Homz provides a wide range of furnishings and furniture for office, bedroom, kitchen, bathroom etc.

The decorative wall panels are used to cover an existing wall. These panels are available in a variety of textures, finishes and wood grains.

The company’s specialties also include rubber wood and Chinese MDF. The high-density and tightly packed grains make rubber wood an ideal choice for developing furnishings with a solid and smooth finish.

The durability of rubber wood is excellent and stands the test of time for all kinds of furnishings. Good-quality Chinese MDF serves the needs of sturdy moulds and cabinet-making.

To suit the magnitude of the company, its showroom spreads across an area of 60,000 square feet, exhibiting a vast collection of admirable furnishings.

From antique concepts to the most contemporary models, Mumtaz Homz has got them all.

At Mumtaz Homz, service levels match the quality of the products. Therefore, as an added service, it provides home/furniture planning strategies. The company’s interior-design team has been specifically trained to ensure corner-to-corner precision for living space. With a dedicated team of carpenters for homecustomizing, the furniture needs of the people are safe in the hands of Mumtaz Homz.

27

Relcon Properties Array of various types of projects R

elcon Properties is an allrounder in the real estate field with a large number of distinguished housing projects and corporate offices throughout the State besides providing exceptional aftersales service and customer satisfaction. A subsidiary of Kerala’s real estate conAlexander g l o m e r a t e T KVaidian Relcon Group, Relcon Properties is known for quality construction and an array of different types of projects.

Relcon has to its credit several shopping malls, corporate buildings, business shops as well as star hotels in and around Kochi and Thiruvananthapuram that speak volumes for its building acumen.

Relcon is also known for its commitment to using quality materials

Solution to loading, unloading problems

and perfection in construction by strict supervision at every stage of project development.

A

BI Engineering Private Lim- to move since the entire system ited, which has been serving is on wheel and 24-hour service Kerala industries for the back-up. It requires only last 13 years, has come four or five people to load up with a new revolutionor unload the entire conary product called Loading/ tainer/lorry, and reduces Unloading Conveyor. Acone-third of human exercording to the company, tion. It needs 2 HP for opthe product is a gift to ineration with a hydraulic dustries that face labour power pack.

Murali shortage and vast development.

The Director of the company,

“Besides luxury hotels and opulent mansions for high-end customers in Kochi and Thiruvananthapuram, Relcon also tries its best to meet the acute housing needs of Kerala’s IT city.

It has come up with numerous housing projects to suit the varying choices of customers. Customer has the final say,” says Mr T K Alexander Vaidian, Managing Director of the Relcon Group.

Relcon Green Woods, off N H bypass, Vyttila, Kochi, Relcon Ashiyana, a gated community villa project, off Kalamassery, Ayur heritage villas at Nedumudi on the Alappuzha-Changa nassery Road, Relcon Travancore Heights, Thiruvalla, and Relcon Castle, Thiruvanantha puram, are a few of the company’s celebrated projects.

The conveyor has twin boomtype operation and can be used for loading and unloading, and stacks the bag (max 90 kg)/cartons from the lorry/container directly.

Mr Murali, claims that it has prominent customers like Nirapara Rice, Kerala Feeds, KC Distilleries etc. “Some companies have more than two conveyors”, he adds.

The advantages of the equipment are: it can feed directly into the container/lorry from the godown, counting facility, loading and unloading height adjustment, can run on both directions, easy

The system is also available with ‘telescopic type’ in which the length can be adjusted auto matically. The company manufactures all types of conveyors and fabrications.

TRIUM for building-material brands T

rium Marketing and Consultants Pvt Ltd (TRIUM) was incorporated as a private limited company in the year 2003 with its registered office at Kochi. Company’s main area of interest is Marketing and distribution of reputed building material brands as exclusive distributor.

Abhay Kumar P.K leads the Company as its Managing Director.

With a commendable track record of 2 decades in professional marketing he acquired knowledge to source, store and distribute an industry’s requirements. Having worked with Corporates like Harrisons Malayalam Ltd.(RPG group) Malabar Building Products Ltd(BIRLA group), Roofit Industries Ltd(MOTWANI group), he would be one of the best professional who has set up his own with a definite vision and focused mission.

Mr. Abhay Kumar with his personal rapport with the end users and consultants was very keen on quality at every stage.

Mr. Paulson Thelakkat, Director of Trium has been associating with Mr. Abhaykumar all through his profession. As a team, they have created miracles in lowest estimations and photographic delivery. Mr. Paul son has a reputable status in Sales as well as Service. He also has represented a couple of corporates in building material industry.

Today, TRIUM is known for its reputation and trust in the building material industry.

Both of them today enjoy an excellent rapport with the decision makers of the industry. Especially the specifying authorities like architects/ designers and various Govt.

Departments.

TRIUM’s clients include Geojith BNP Paribas,Asianet,Gokulam Engineering college,SH CMI public school,PSN college of Engg,Indian institute of architects cochin chapter, to name a few.

Mr.Balakrishnan is DGM-sales looking after Kerala market is a sales professional having 30+ years experience in Indian oil corporation,carrier aircon, Priyadarsini cements Ltd to name a few.He has worked in all states in south India and in Gulf countries.

Mr.Shivanand is DGMsales is looking after Karnataka is a sales professional with 15 years+ experiAbhay ence and based in blore.he has worked with companies like mysore chip board,scorpio tiles Pvt ltd in sales manager positions and enjoy high reputation in the industry.

Mr.Kunhukuttan.,Regional manager –sales is looking after T.Nadu state has experience with JK cements,Roofit industries Ltd and scorpio tiles Pvt Ltd and has a commendable track record.He has experience of about 25+ years in sales.

Apart from the senior staff members, TRIUM has many asst.managers and sales executives to service the customers.

PASSLINE

After successfully completing preliminaries as marketing consultants to couple of brands, Trium later ventured into Partnering and Channeling some of the reputed international brands . Trium launched Kronoloc, USA as their first product in the capacity of country partKumar P.K ner for India. Kronoloc is a prominent brand of woodenlaminateflooring.The brand is widely used in many hotel,office,commercial projects and residences of celebreties.

Wienerberger of Austria was next. The Winerberger group today is the largest producer of clay based building materials such as clay blocks,Rooftiles and claddings operating around 225 plants in US , Europe and asia. Wienerberger products are natural, adhere to the highest quality standards, and provide high living standards and an impressive variety of designs.TRIUM is

July 31 - August 31, 2011

the channel partner for WIENERBERGER FOR KERALA. Next to be added was Endurer concrete roofingtiles manufactured with Japanese Technology by Pionnier Roofings Company Ltd,India. Endurer roof tiles has a unique tile securing system minimising wind damage & dislodging, there by withstanding any extreme climatic conditions.TRIUM is the Marketing partner of PIONNIER FOR KERALA. Onduline of France is one of the most flexible, reliable, versatile and cost effective roofing material. It is an extremely tough, lightweight, corrugated roofing material manufactured from bitumen saturated organic fibres under extreme heat and pressure.TRIUM is the authorised partner for ONDULINE for Kerala.

Clpso from france is the latest in the list.clipso is technical fabric primarily used for false ceiling which can be printed and used for wall covering too.Trium is the exclusive distributor for Kerala,T.nadu,Karnataka and goa.

Trium has completed thousands of projects in south India by direct supply and dealer network.Trium now employs about 20 personnel has sales office based in cochin , has branches in Palakad and Bangalore with 50+dealers and operations spanning all over south India.

28

By Bobby John Pulickaparambil (ybob @sify.com)

Regulation should not harm the industry

R

eal estate is a big business at any time anywhere in the world. The urge to own a piece of land or a dwelling house is inherent in everyone. Unlike many other investments real estate is considered as more or less safe investment. The recent boom in the real estate sector benefited other connected sectors and also gave an impetus to the growth of our economy in general. Moreover it provides livelihood to millions directly and indirectly. However, the sector faces a major crisis at present.

Scams, hollow promises, unrealistic projects and cheated investorsâ&#x20AC;&#x201D;one can only lament the sorry state of affairs in our real estate sector.

Now it is widely accepted that regulation, whether self-regulation or state regulation, is essential for the healthy and sustainable growth of any sector.

The real estate sector is no exception to this. But, by whom and how farâ&#x20AC;&#x201D; these are the crucial questions. No business or industry likes much external regulation. That will affect the

nance, law or management. The Real Estate Appellate Tribunal shall consist of a Chairman and two members. The Chairman shall be a sitting or retired High Court judge and a member shall be a person well versed in the field of urban development, finance, law or management or person equivalent to the Principal Secretary to State Government. The State Government or the competent authority or any person aggrieved by any direction, order or decision of the Regulatory Authority may prefer an appeal to the Appellate Tribunal within 30 days from the date of receipt of a copy of the order. The Appellate Authority shall strive to dispose of the appeal within 90 days.

The bill says that no development of land into a colony or construction of apartments for marketing without registration with the Regulatory Authority will be permitted. It is further provided that every promoter shall furnish a bank guarantee equal to 5% of the estimated cost of the development

authority can also call for the promoter to furnish any information or explanation. It can direct the production of books of account and their inspection by its officers. The Regulatory Authority is expected to take all possible steps for the promotion of a healthy, transparent, efficient and competitive real estate market. The authority shall strive to encourage rating of real estate projects and promoters, construction of environment-friendly buildings and measures for conservation of water and its recycling. Further it will be the function of the authority to take up with the Government, financial institutions, local bodies and other authorities issues like prompt and hassle-free home loans, credible and reliable land title certification system, speedy and transparent registration of properties, effective institutional arrangements for proper upkeep and maintenance of built-up properties, statutory framework and equitable and balanced relationship between landlord and tenant.

The new legislation casts a number of responsibilities on the promoter. The bill mandates that no promoter shall issue an advertisement or prospectus offering for sale any plot/building/ apartment or inviting advances or deposits without taking registration and filing a coy of the proposed advertisement before the Regulatory Authority in advance. Such an advertisement shall contain true statement and disclose the details of the registration, the extent and situation of the land, the area of the plots, building and apartments offered for sale, nature of title to the land, the cost payable, names of the agents or property dealers or brokers, middlemen etc. It will be the responsibility of the promoter to enter all required details of real estate project in the website of the Regulating Authority through a system of self-entry. Further a responsibility is cast on the promoter to make available for inspection all documents and information to people intending to take a plot or building or apartment in the real estate project. Such information includes details of sanction, details of registration, enterprise details, nature of title to the land, details of encumbrance on the land, layout plan of the real estate project, the plan of the development works to be executed

To the extent that the proposed bill takes every possible safeguard to protect the consumer from fraudulent promoters and to prevent fraudulent and unfair practices in the sector, it is well and good. But, the question is how far it is acceptable to the real estate sector. One cannot be blamed for apprehending that the proposed legislation tries to over-regulate the sector. Similarly critics may say that legislation may affect the flexibility and competency in the sector. The bad memories of licence-permit-quota raj will hound the stakeholders in the sector. freedom of business, flexibility and competency of the sector. Therefore, necessarily you have to draw a line between them. Well, the Central Government has presently mooted legislation at state level to regulate the real estate sector. Accordingly a model Real Estate (Regulation of Development) Act was prepared and circulated. The objective of the legislation is to regulate, control and promote planned and healthy development and construction, sale, transfer and management of apartments and similar properties.

The proposed legislation provides for the formation of a Real Estate Regulatory Authority and an Appellate Tribunal. The Regulatory Authority shall consist of a chairperson and two members to be appointed by the Government from amongst people who have special knowledge of and professional experience in the field of public administration, urban development, fi-

work. The Regulatory Authority can cancel the registration suo motu or on a complaint or on the basis of the recommendations of a competent authority. The Regulatory Authority has power to ensure compliance of the obligations of the promoters as well as allottees. The authority is expected to host and maintain a website of records of all real estate projects within its jurisdiction as data base. Further the authority can make recommendations on protection of interest of the allottees, measures to improve the process for clearance of building plans, structural safety and environmental sustainability of buildings etc. The authority has power to make an enquiry either suo motu or on the basis of a complaint and can pass an order on any dispute between a promoter and an allottee. The order shall be passed within a period of two months from the date of such complaint. The PASSLINE

July 31 - August 31, 2011

in the real estate project as approved by the local authority, the plan and specification of the building or apartment, common area, carpet built-up area, super built-up area, facilities and common services proposed including supply of electricity and water, sewage and drainage systems, lifts, firefighting equipment etc. The bill mandates that no deposit or advance should be taken by the promoter without first entering into an agreement for sale. Promoters shall maintain all accounts of sums taken from the allottees, register and records. A chartered accountant in practice shall audit them. Once the promoter enters into an agreement of sale with the allottee, he shall be responsible to disclose the site plans along with structural designs and specifications, nature of fixtures, fittings and amenities, stagewise time schedule of completion of project, site certificate, time schedule for connecting the projects with municipal services such as sewage, water supply, electricity, drainage etc. After the layout plans of the plots in a colony or the plains and specifications of the buildings/apartments are approved and they are disclosed to the person who agrees to take the building/apartment, the promoter shall not make any alterations in the structures indicated therein without the previous consent of the person, project architect and project engineer and obtain the required permission of the Regulating Authority. It shall be the responsibility of the promoter to obtain a completion certificate of the building or apartment from the local authority concerned according to the building regulations in force and make it available to the allottees.

The proposed bill appears to be a comprehensive piece of legislation dealing with almost all problem areas in the real estate sector. It takes every possible safeguard to protect the consumer from unscrupulous promoters and to prevent fraudulent and unfair practices in the sector. Thus far it is well and good. But, the question is how far it is acceptable to the real estate sector. One cannot be blamed for apprehending that the proposed legislation tries to over-regulate the sector. Similarly critics may say that legislation may affect the flexibility and competency in the sector. The bad memories of licence-permit-quota raj will hound the stakeholders in the sector. The rigour of regulation and the lack of regulationâ&#x20AC;&#x201D;both are equally damaging for the industry. Of course regulation is a necessity, but a balancing act is essential.

REVIEW

29

By K P Joseph

D

r Thomas Isaac, the former Finance Minister, broke from tradition when he presented on February 10 this year the full budget for 2011-12 about a month earlier than usual, when the election to the Assembly was due to be held in a few weeks’ time. Normally only interim budgets are presented if the elections take place early in the financial year. The other four states that held elections along with Kerala this year presented only interim budgets. It is possible that Dr Thomas Isaac hoped that his populist budget might help to influence the voters and bring back the LDF to power. But luck did not favour him.

In his eagerness to please the voter, Dr Isaac tried to increase spending, with scant regard for the increase in the budget deficit: something unusual for a Finance Minister to do. He ended his budget speech by claiming credit for not “adoptK M Mani ing a mechanical approach of balancing the receipts and expenditure” which he said would help Kerala to take “a leap forward”. There was a fiscal deficit of over Rs 10,000 crore in Dr Isaac’s budget. One out of every five rupees spent by the Government had to be borrowed. But Dr Isaac was not bothered about it in the least. He was only annoyed that the Central Government was standing in the way of more borrowing by the State Government.

When Mr K M Mani, the new Finance Minister, presented his revised budget on July 8, he had to face the consequences of Dr Isaac’s profligacy. But he was lucky that his predecessor took the trouble to prepare a full budget, because of which he and the Finance Department were spared considerable work in preparing the budget documents. In his opening remarks in his budget speech, Mr Mani said that in the revised budget he has built on the foundation laid by Dr Isaac in his budget. No other state that held elections at the time that Kerala did has yet been able to present the budget.

The budget speeches of Dr Isaac and Mr Mani were very long. There were 240 paragraphs in 70 pages in Dr Isaac’s speech and 387 paragraphs in 91 pages in Mr Mani’s. By contrast, Mr Pranab Mukherjee’s budget speech this year had only 197 paragraphs in 33 pages, though the Central budget is 25 times the size of the revised Kerala budget.

Revised budget

Kerala’s finances in poor shape 6,019 in the LDF budget and the fiscal deficit Rs 10,641 crore. The corresponding UDF budget figures are Rs 5,534 crore and Rs 10,641 crore. The difference between the two is marginal.

There is much criticism of the way the funds have been distributed in the revised budget among dif-

Mr Mani devotes the first part of his speech to make a severe criticism of Dr Isaac’s financial management, which he says has very nearly taken the Kerala Government into a debt trap. If we examine some of the relevant figures, it will be seen that there is substance in Mr Mani’s criticism. The public debt of the Kerala Government is estimated at Rs 88,887 crore this year. It has nearly doubled under the last LDF Government. The amount spent on salaries of Government employees this year is estimated at Rs 16,326 crore, which is about three times what it was when the LDF Government took over. ferent districts and groups. The Finance Minister has been accused of showing undue favour to his constituents and some political allies.

It is to be hoped that he will try to rectify unfairness if there is any to the extent possible, and that soon.

M

r

Mani devotes the first part of his speech to make a severe criticism of Dr Isaac’s financial management, which he says has very nearly taken the Kerala Government into a debt trap. If we examine some of the relevant figures, it will

If we look at the key figures in the LDF and UDF budgets objectively, it will be seen that there is very little difference between the two. The total receipts in the LDF budget are estimated at Rs.49,126 crore and in the UDF budget Rs 49,866 crore. The corresponding expenditure figures are Rs 49,279 crore and Rs 50,025 crore. The revenue deficit is Rs

be seen that there is substance in Mr Mani’s criticism. The public debt of the Kerala Government is estimated at Rs 88,887 crore this year. It has nearly doubled under the last LDF Government. The amount spent on salaries of Government employees this year is estimated at Rs 16,326 crore, which is about three times what it was when the LDF Government took over.

Most of the state governments have reported revenue surplus during last year. But Kerala has always reported revenue deficits year after year. The fiscal deficit, which is now Rs 10,507 crore, had doubled during the LDF rule. Though the targets laid down by the Kerala Fiscal Responsibility Act 2003 have been nearly met in recent years, it has to be pointed out that due to the sharp increase in Gross State Domestic Product (GSDP) during the corresponding period because of the increasing remittances received from abroad, a true assessment of the position of the budget deficit is not possible. That the fiscal deficit this year works out to about 20% of the total budget shows that the Kerala Government finances are not in good shape. The amount spent on salaries plus pension plus interest on debt comes to Rs 29,893 crore this year, which is about three-fifths of the total expenditure—a ratio seldom seen in other states.

There has been talk of the UDF Government bringing out a White Paper on the state finances. But whether it is being done or when is not known. In paragraph 30 of Mr Mani’s budget speech it is said that a timely review of the state finances and corrective measures are needed. But what we are not told is what steps are being taken and when. Dr Isaac and Mr Mani are often seen finding fault with each other after the revised budget was presented. Because the Government is in a serious financial crisis it would benefit the people of the state if political differences are set aside for a while and all the parties sit down together and find common solutions to the major financial problems. Mr Mani has suggested this while concluding his budget speech (paragraph 385). It is to be earnestly hoped that Dr Isaac and his colleagues will seriously consider this, as early as possible.

A Vote on Account for four months from July to October this year has been tabled.

This means that only five months will be left after the budget is approved for implementing the major projects, which is much too short a time.

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ONAM MARKET

30

Consumer durables

Sales in full swing Passline News Service

Festive seasons are not only for the people to celebrate with great verve and togetherness; home appliances companies also join in the festivities by introducing special offers and latest products to boost their sales. About 20 leading brands are eyeing a large chunk of the seasonal boom in sales.

Sharing their strategy for the season, LG and Samsung, which are the two leading players, say that Onam-season sales alone constitute 40% of their annual sales. Festival discounts and attractive gifts are the special attractions. Of course, there is concern among the players about the increase in interest rates by banks which, they fear, may hit sales.

However, they are optimistic that sales may no be affected much considering the increased buying capacity of customers.

our relationship with our customers here, and make the festive season memorable and rewarding for them. The company is expecting growth of 30% in sales in the Kerala market during this Onam over the same period last year” In value terms this amounts to Rs 350 crore during this season alone. The company claims it has a market share of 37.1% in CTVs, 38.6% in LCD TVs, and 40% in frostfree refrigerators (source GFK YTD, May 2011). The offer, which started from July 15, is valid till September 15, 2011. The company says it will spend Rs 10 crore on its Onam campaign. Mr. P Sudheer, Regional Manager, Tamil Nadu and Kerala, was present at the media briefing.

Samsung India Electronics has introduced Bhagya chuvadu which offers consumers assured gifts as well as a chance to win exciting bumper prizes comprising Samsung products ranging from top-of-the-line panel TVs to home appliance products. Gifts worth Rs 17 crore are available on various pur-

LG Electronics India Pvt. Ltd (LGEIL) has announced Onam bonanza sales through its scheme ‘Sammana Perumazha’ which offers assured gifts like LED TVs, microwave ovens, DVD players, mobile phones, gold coins and cash-back on every purchase by simply scratching a card. Dr Y Y Verma, COO, LG India, told mediapersons in Kochi recently: “Kerala has always been a priority state for LG and the launch of our new offers is an endeavour of ours to renew and strengthen It is certainly possible with the cooperation of the Opposition parties to get the budget approved before the middle of August. The disbursing officers should be informed before the end of August about the amounts available to them.

The timetable for the presentation of the budget in the coming years will have to be brought forward and the budget got approved before the beginning of the financial year.

This should be done with effect from next year and steps taken to present the budget early in January. The Kerala Government had agreed to abolish the archaic Vote on Account on the advice of the Asian Development Bank. It has not yet been implemented. It will help very much to improve financial control.

There are several budget volumes that are totally unnecessary and should be

scrapped, like the thick volumes listing the works for which there is no money available, the details of staff etc.

Any visitor to Kerala will be amazed to see the number of demonstrations and protest marches and hartals all through the year. Mexico City had the largest number of such demonstrations.

Now Thiruvanthapuram has overtaken Mexico City. Headload workers and their activities are unique to Kerala. All this will scare away anyone from outside who wants to invest in Kerala. The political parties have to discuss and find some practical solution to this as early as possible. It will be a big boost to the economy, and the politicians will have to do it if thy care for the people.

As everyone knows there is enormous fraud, embezzlement, waste and corruption in Government. No work ever

chases, company officials said at a press conference in Kochi recently.

The Bhagya chuvadu is valid from July 20 till September 15, 2011 across all outlets in Kerala. Taken from the mythology of Mahabali and the three footsteps he allowed Vamana, the Bhagya chuvadu offer comes with a scratch card designed in the shape of a footprint. Customers are eligible to get gifts and

bumper prizes through three footsteps with the final step carrying the bumper prize coupon. Buyers of LCD TVs, direct-cool and frostfree refrigerators, home theatre systems, digital cameras, microwave ovens, DVD players or air-conditioners will get bumper prize coupons. Mr Raj Kumar Rishi, Vice-President (VP), Samsung Audio and Video Business, said at the launching function: “Being the global leader in flat panel TVs, we have been consistently taking the lead in terms of introducing new technologies like LED TVs, 3D TVs and more recently Smart TVs in the Indian market.” Mr Mahesh Krishnan, VP, Home Appliances, and Mr Sunil Kumar Nair, Regional Manager, Sales for South, were present on the occasion.

Samsung eyes Rs 250-crore sales during the Onam season. According to the company, Onam sales contributed 4% to the total turnover of the company last fiscal.

gets done in time. Time and cost overruns in the execution of major projects occur regularly and on an alarming scale.

The Government will have to do an early study to analyse the problem and locate delayed projects and speed them up.

Often we hear of Government employees being placed under suspension and vigilance raids. But very seldom is anyone punished. There are many cases of employees retiring after several years of suspension, without punishment. The Government has to lay down time limits for taking disciplinary action and enforce them strictly.

A survey to find out outstanding cases where no disciplinary action has been completed should be done early and remedial action taken.

The Government used to appoint commissions in the past to suggest ways of reducing spending. The last major PASSLINE

attempt to cut spending was made nearly ten years ago when Mr A K Antony was the Chief Minister. He cut some perks and allowances of employees which resulted in a strike that lasted for 33 days.

Mr Antony not only restored all cuts but increased some of the benefits. It is certainly possible and not difficult to reduce unnecessary spending without displeasing the Government employees by looking for avoidable major items of spending. The staff can help and if they are rewarded for suggestions, the results will be remarkable.

Instead of appointing new commissions to suggest ways of improving financial management, as in the past, it will be far better if the Government finds an experienced and capable officer to do it alone.

Kerala is lucky that it has such an officer readily available—Mr

July 31 - August 31, 2011

K M Chandrasekhar, the new Vice-Chairman of the Planning Board and the former Cabinet Secretary. His experience is vast and his boldness amazing. As he was Principal Finance Secretary in Kerala several years ago, he knows far better than anyone else what is wrong and can suggest solutions.

The Kerala Government has financial cancer and has been groaning in misery for long. Let the Government try for a proper diagnosis, surgery and radiation.

Let Mr Chandrasekhar do the work.

The revised budget will be a small first step on a long journey to take Kerala to a golden future. Let the politicians sink their minor differences and work for the good of the people.

(The author is a former Accountant-General of Kerala)

31

STOCK MARKET

Bull may run up in the second half of the year Passline News Service

Stock markets have been showing a lull during the past few months following global cues. The markets saw heavy selling on account of concerns over the Indo-Mauritius Double Taxation Avoidance Agreement (DTAA), the Greece debt crisis earlier and the rumblings in the US economy. FIIs are the backbone of the Indian stock market. Last calendar year their record purchases led the stock market to higher levels. . Middle East power struggles, coupled with high inflation and rising bank interest rates, pushed Indian stock markets to negative levels. Increased oil prices and refrain of retail investors in the market had a double-whammy effect on the index.

Though the Reserve Bank of India (RBI) was taking measures to rein in in-

issue etc had their cascading effect on the market sentiment.

Now the 30-share BSE index is dillydallying between 18,000 and 19,000 points. Experts anticipate that this condition will prevail till September. After that, the good monsoon and record crop output will give a leg space for the Central Government to come with a reform-centric budget this year which will push the market up. Experts expect that the good monsoon will result in better agricultural production and help to bring down food prices. All these are the feel-good factors expected to deliver better times to the stock market. Oil prices are also stabilizing. However, there is no chance of petrol and gold prices to come down in the near future due to the uncertainties in West Asia. So the market sentiment may almost remain the same till September.

monsoon session of Parliament. Indian equities may have surprising upside in the second half of the year. These will lead to more FII fund inflow in the coming months. Stock market experts are also not expecting any big fall or spurt but anticipate a bullish trend from the second half of the year. So retail investors must invest in stock markets in a long-term view, minimum one to three year periods. Fundamental and wellmanaged companies can give good return during this period. flation by tampering with the base rates, it did not fetch the expected benefits during this period. Above all, reports of multicrore corruption and scams like 2G and 3G, Spectrums, loan bribes, Commonwealth Games scams, the Telangana

Most of the companies are announcing better first-quarter results even though the raw material costs are spiralling.

As exports from IT companies are on the rise there is hope of the prices of shares of this sector going up.

Introduction of the second phase of reforms and new policies and important announcements are expected in the

Gold has got also good scope for investment. Instead of purchasing ornaments, gold may be invested through ETF

and demat forms. There is facility to invest minimum one gram of gold also without fear of theft or loss.

Banking, auto, pharma, FMCG and technology sectors expect to perform well in the coming months.

Stocks like HDFC Bank, SBI, Tata Motors, Bajaj Auto, Tata Steel, Hindalco, ITC, Colgate, Lupin, Sun Pharma, TCS and HCL Tech are recommended as good investments. Investors are advised to invest some amount each month in different companies as long-term investment. Don’t get panicky about slumps and spurts in prices. Use every fall as an opportunity to invest and to book profit with 15% to 20% return and re-enter at lower levels too.

The magazine that purveys ideas. Ideas to help you better manage your business. Ideas to understand the vast changes reconstituting the economies—of both Kerala and the country.

Ideas to entertain you—and to prod you to see things in different ways.

Some of these ideas, we believe, come out of how people and companies are pushing themselves to become more competitive or turning themselves around.

Read them all and advertise in PASSLINE. The magazine that helps you keep pace— with events and happenings.

PASSLINE—your path to business and the business path to success.

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www.passlinebusinessmagazine.com PASSLINE

July 31 - August 31, 2011

REJUVENATION

32 Ayurveda is closely associated with Karkkidaka chikilsa (therapy during the month of cancer, occurring during the monsoon season). Both Karkkidaka chikilsa and sukha chikilsa (preventive therapy) have attained global attention.

Monsoon—the right time for rejuvenation Passline News Service

M

Nagarjuna, Dhathri and Kandamkulathy share with PASSLINE their recipes for the season.

The Kandamkulathy Group, one of the most onsoon is no longer a season when people idle their days away sitting at home: celebrated ancient ayurveda families in Kerala, many use it for body rejuvenation. Kerala, which offers special packages at its hospitals across has a hoary tradition of the ancient ayurvedic the state. There are four rejuvenation schemes system, has developed ideal ayurvedic treat- lasting four, seven, 14 and 21 days at its Mala, ment techniques to attract people including a Thiruvananthapuram, Athirappilly and Kochi centres besides at the Ayursoukhyam large number of foreigners. Ayurveda is Resorts at Thumboormuzhy near closely associated with Karkkidaka Chalakudy. Dr Rosemary Wilson, Chief chikilsa (therapy during the month of Physician, says Kandamkulathy Hoscancer, occurring during the monsoon pital is also producing various oils beseason). Both Karkkidaka chikilsa and sides rice soup especially for sukha chikilsa (preventive Karkkidaka chikilsa. therapy) have attained global attention.

Ayursoukhyam Resorts on the Dr Rosemary Hence ayurveda Wilson banks of the River Chalakudy which is has become the close to Athirappilly Waterfalls in the Western brand ambassador of Ghats is only 35 km from the Cochin InternaKerala along with tional Airport. “Along with the treattourism and culture. ments, there are good facilities for L e a d i n g ayurveda brands have introduced novel schemes and medicinal courses for this monsoon season to attract people from around the world.

Ayurvedic companies have come up with additional facilities at their hospitals along with spiritual and meditation classes to add fuel to mental strength. Besides, they have also made special dieting methods for the rainy season in accordance with the digesting capacity of pat i e n t s .

hospital having all facilities for a comfortable therapy session during the season. The hospital provides various massaging oils for patients who take the therapy at their homes. Dr Krishnan Namboodiry, Chief Physician of Nagarjuna Hospital, Chalakudy, says a large number of its patients are foreigners mainly because of its campaign across the globe.

Some new-generation hospitals, meanwhile, have entered the scene posing a threat to ayurveda as they have little knowledge of the system and carry on their activities with a business mind. Experts say that ayurveda is a holistic system and treatment under it is provided according to the physical and mental condition of the patient. This varies from person to person. They warn people against charlatans in the field as their ‘treatment’ is likely to cause more harm than good. They also caution people not to fall prey to fake doctors and hospitals. Ayurveda is a science and hence it needs proper education before it is applied on a person, they say.

ready use in our complex of 14 wellappointed cottages and Panchakarma.

The treatment theatres are well Ayurveda doctors say that equipped and the resort has a restauKarkkidakam has no special features rant offering separate ayurveda food entitling it to the privilege of being the recipes along with traditional Kerala best month for taking rejuvenation treatDr Krishnan dishes in the right atmosphere. Green ment. On the contrary, the human body Namboodiry Leaf-approved facilities, herbal is not flexible during this period. Dr garden, heritage library, multicuisine Krishnan Namboodiry stresses the need for restaurant, ayurvedic medicine manufacturing educating the people in this regard as many unit, yoga and meditation, fishing in the river people are under the wrong impression that it and cultural programmes are the added advan- is the most suitable time for treatment. tages of the centre.

“Karkkidakam has neither any specific advanThe Dhathri Hospital Group has also estab- tages nor is there any scientific basis for belished novel packages at its ayurveda centres lieving that it the most appropriate period for spanning across Kerala. The Kayamkulam, treatment. This month was selected only beGuruvayur and Palarivattom (Kochi) centres are cause of the heavy rainfall during the time which ready with various medicinal packages and forces people to stay indoors and because there treatments. Three-, five-, seven- and 14-day is hardly any work for them to do,” he says. packages are offered during Karkkidakam. “Ayurveda came into existence thousands of Waterfront treatment (AC), deluxe (AC), deluxe years before the calendar came on the scene. (non-AC) and economy (ABC classes) are the Hence it is wrong to connect both.”

Doctors also say that once rejuvenation treatment is taken, it is not mandatory for the next season. Body cells do not become weak as many fear. Doctors prescribe Karkkidakam only because people have shorter immunity during this month than during other months because of the damp climate. Instability Nagarjuna Ayurvedic Hospital, a of the three ‘doshams’—vaatham (rheuDr Deepa leading brand in ayurvedic treatment, Gopakumar matism), pitham (bile) and kapham has established special packages for the month, the main focus being on sukha (phlegm)—makes preventive treatment during chikilsa. There are three schedules in the this season essential for one to regain immumorning and at night of eight, 15 and 21 nity. Karkkidaka treatment mainly focuses on days, respectively, according to the choice rejuvenation of the body and raising the immuand need of the patient. Situated close to nity through sukha chikilsa and Panchakarma. the Periyar River at Kalady is a 50-bedded (This is a cleansing and rejuvenating programme rooms offered at the group’s various centres across the state. Meditation, yoga and laundry are the additional services.

Dhathri says this package can be used at its hospital units as well as at the Kayamkulam Waterfront treatment centre.

PASSLINE

July 31 - August 31, 2011

33

NEWS

KFC’s loan policy gets project-orientated The Kerala Financial Corporation (KFC) has been striving to play the role of lead development financial institution in Kerala. It has set up full-fledged consultancy and marketing departments in all its offices to guide entrepreneurs in all aspects relating to project implementation and to ensure that decisions on requests for financial assistance are taken expeditiously.

An advisory committee of industry experts has been set up to provide feedback and also guide the KFC in its endeavours.

KFC has simplified its loan policy and the document consisting of policies, guidelines and procedures for dispensing credit.

The policy, adopted by KFC in May 2011, has several features aimed at making the operations more project-oriented and customer-friendly.

The new features are the following: Disbursement of loans based on progress of implementation of the project and investment of promoters in the project; determination of eligibility for loans based on the total security of the project; rationalization and reduction in the number of loan

Federal Bank, Visa launch quick remittance scheme

schemes from 33 to 5 simple and easily understandable schemes; immediate registration of loan application and analysis of projects based on available data and registration of application after technical and legal scrutiny on submission of complete set of documents.

KFC’s new customerfriendly policies include flexibility in parameters like debtequity ratio, promoters’ contribution as well as asset-coverage ratio to enable the sanctioning authority to give need-based finance.

Yet another novelty is e-auctioning, which makes the process transparent and also enables any person from any location to bid for the properties put up for sale.

KFC’s new initiatives intended to develop tiny industries include the village adoption scheme; innovation and incubation centres in association with engineering/management institutions to take up project ideas to production stage; risk capital assistance to help first-line entrepreneurs in the micro-industrial sector and creation of infrastructure through cluster development programmes in association with other government bodies.

Geojit Q1 net dips Geojit BNP Paribas Financial Services has posted a net profit or Rs 4.3 crore in the first quarter of this fiscal as against Rs 6.19 crore in the corresponding quarter of the previous fiscal. The company has reported its Q1 (April-June) results for fiscal year 2010-11 with a consolidated revenue of Rs 61.80 crore compared with Rs 64.46 crore for the same period of the previous fiscal. Geojit has approved a dividend of 75 paise per equity share of the paid-up value of Re 1 for 2010-11, the same as the previous year.

Manappuram-IBM tie-up in IT service M

anappuram Finance Limited and global IT giant IBM have entered into a contract by which IBM will help Manappuram to transform its IT systems for the next 10 years. Manappuram has introduced core banking in the nonbanking finance sector in the country. The IT services will enable Manappuram to upgrade IT services to its customers along with its financial dealings.

Federal Bank and Visa have jointly launched a new solution that lets Federal Bank Visa Debit cardholders receive international remittances almost instantly. Federal Bank is the first bank in the country to activate this solution with Visa.

The solution, which lets recipients collect funds in near-real-time and safely, is claimed to be more convenient than existing alternatives since the recipients will not have to visit an agent location to collect cash.

Instead, funds are deposited directly onto cardholders’ Visa cards, which can then be used to shop at all local merchant outlets that accept Visa cards.

According to Mr Shyam Srinivasan, MD and CEO of Federal Bank, the new solution for international remittances will benefit the bank’s large number of NRE customers and that the Visa cardholders will enjoy the convenience it offers.

For a start, Federal Bank customers in India will be able to receive near-real-time remittances sent from UAE Exchange.

SIB net Rs 82.5 cr in Q1 S

outh Indian Bank (SIB) has posted the highestever quarterly net profit of Rs 82.49 crore, an increase of 41.15%, as against Rs 58.44 crore for the corresponding quarter of the previous year.

The bank’s total business has increased by Rs 13,556 crore from Rs 40,217 crore to Rs 53,773 crore on year-toyear basis registering growth of 33.71%. Deposits went up

by Rs 8,291 crore from Rs 23,331 crore to Rs 31, 662 crore, a growth rate of 35.54%.

Advances increased by Rs 5,265 crore from Rs 16,886 crore to Rs 22,151 crore. Earnings per staff (EPS) rose to Rs 2.93. The book value of the share is Rs 17.04.

The bank will open 57 branches this fiscal, taking its total number of branches to 700.

for the body, mind and consciousness. It is known for its beneficial effects on overall health, wellness and self-healing).

Though ayurveda has fewer side-effects, medicines are desirable depending on the condition of the patient. Dr Deepa Gopakumar, Physician, Dhathri Ayurvedic Hospital, Palarivattom, emphasizes the need for proper treatment during the rainy season. “Since the inception of new-generation hospitals in every nook and granny of the state, a wrong way of medication has been established with the sole aim of making profits. This tendency has demoralized the value system of ayurveda and converted ayurveda clinics and hospitals into mere massaging centres. People need to be properly educated about this and weaned away from such institutions,” she says.

Dr Rosemary Wilson also stresses the need for proper awareness among people. “Bogus ayurvedic treatment centres are a menace to genuine hospitals. Unless people are cautious about fake hospitals, the whole sector will be looked upon with suspicion,” she says. The major threat these new-generation hospitals pose is their ‘liberal’ system as they are said to provide a uniformed treatment without considering the state of the patient. This is be-

advised for burning off cholesterol. Besides, proper medicines are desirable to strengthen immunity. Doctors say food habits are also important in ayurvedic treatment during monsoon as it determines the overall rejuvenation process.

Light food, mostly vegetarian, is advised by physicians mainly because of the lower digesting capacity of the people during this season. Monsoon food is now synonymous with Karkkidaka kanji (rice soup) which is prepared using traditional herbal ingredients such as Njavara rice, sida, thiruthali, ashali etc, according to ayurvedic prescription.

lieved to be harmful to patients with skin problems, arthritis etc as they are not supposed to undergo all kinds of treatment because of their physical condition.

Treatment during monsoon should be strictly in accordance with the overall changes of the patient through medicines, exercise and spiritual conditions. Hospitals provide all these facilities under one roof. Yoga and meditation are offered for the spiritual uplift of people while physical engagement is PASSLINE

July 31 - August 31, 2011

Rejuvenation therapy is also offered through Panchakarma treatments; however, according to the age, physical and mental conditions and other factors, the doctor may decide to omit one or more procedures of the treatment.

Oil massage (Abhayankam), steam bath, Snehapana, Abhyangam (general massage), Nasyam (medicated oils poured through the nostrils), Pizhichil, Dhara, Virechanam, Njavarakkizhi, Tharppanam (medicated ghee or medicines kept over eyes), Karnapooranam (medicated fumes applied to ears), medicated steam bath and Vasthi are the major preventive therapy methods.

34

Cholayil to take over ‘Krishnatulasi’ The Chennai-based Cholayil Private Ltd is all set to take over the ‘Krishnatulasi’ brand. According to the company, the takeover will boost its presence among herbal care products.

Kochi Mayor Tony Chammany inaugurating the national seminar on diabetes organized under the aegis of Dhathri. Dr Ambika, Ernakulam DMO, Mr Rajesh Kumar, Dhathri DGM, Dr S Sajikumar, Dhathri MD, Dr E Ratnakaran, Kerala University Health Science Pro VC, and Ms T K Uma, Tripunithura Ayurveda College Principal, are also seen.

Dhathri to start 100 ayurveda centres this year Dhathri Ayurveda Private Ltd, a leading player in the ayurvedic system of medicine and treatment in the country, plans to launch 100 ayurveda centres this year, which will include hospitals and clinics aimed at propagating authentic ayurveda practices.

To cater to the emerging ‘ethical ayurveda’ market, Dhathri Ayurveda also intends to launch 100 classical ayurveda medicines and an array of patented products from its state-of-the-art manufacturing facility at Nellad.

Dr S Sajikumar, Chief Physician and Managing Director of Dhathri, told the media recently that the company would invest Rs 10 crore to develop ayurveda medicines and infrastructure. The new venture will give rise to about 1,000 job opportunities directly and indirectly.

Dhathri Ayurveda, according to Dr Sajikumar, will set up Dhathri Ayurveda Foundation to promote authentic ayurveda

globally. The foundation will focus on providing comprehensive healthcare solutions through hospitals, doctors and prescribed products. The foundation will also take proactive measures to promote Kerala-style ayurveda in other countries.

Cholayil, the mentor of Cuticura and Medimix, is planning to enhance its sales turnover to Rs 500 crore within five years.

Besides Krishnatulasi soap and beauty jel, shampoo will also be marketed. This will be manufactured in the factories in Andhra Pradesh and Uttarakhand. Markets will be found in the northern states. Out of the company’s Rs 100-crore sales turnover nearly 10% is earned by exports to 200 countries including the UAE, Malaysia etc.

Medimix is marketing Cuticura brand talcum powder, soap and deodorant etc. The company has plans to market more products in the Cuticura brand and to expand the market network.

To create awareness of the capability of ayurveda in providing effective healthcare solutions, the company conducts awareness classes and medical camps across the country, Dr Sajikumar said.

Besides Cuticura talcum powder, which has a market share of 15%, Krishnatulasi soap and other products will also find markets in foreign countries. The company introduced Medimix soap in the market about 40 years ago.

The Dhathri Group at present consists of Dhathri Ayurveda Private Limited, Dhathri Ayurkendra India Private Limited, Dhathri Diabetic Polyclinic, Dhathri Abs Clinic, and Warrier’s Hospital and Panchakarma Centre.

The new outlet ‘Sadayush Ayurvedic Centre’ in Chennai will be given more teeth by the opening of more branches.

Dhathri has manufacturing facilities at Kayamkulam, Nellad and Moovattupuzha as well as treatment centres at Guruvayoor, Kochi, Kayamkulam, Kottayam, Thiruvananthapuram, Coimbatore and Bangalore.

Eduvate India–Mexus bid to modernize education Eduvate India 2011, conducted by Mexus Education, brought together prominent academics for a panel discussion on their perspective of adding value to the current education system through technological innovations. The panel discussed how technological innovations would make learning more qualitative, interesting and meaningful and unanimously opined that information and communication technologies are improving the quality of life.

fer a platform to maximize the determine their career orientaengagement of students in tion. academics and learning in and To develop self-learning oribeyond the school. Mexus entation in children, the audiostrives to develop visual aids and reproducts that mote interface would help teachschool are paired ers address diswith activity-based parities in the aplearning labs. In titudes of stuthese labs, children dents while stuassemble science dents remain enconcepts and view gaged in subjects short movies that deAnil Goyal through entertainvelop personality. To ing media like videos and ani- make educational aids accesmation,” sible to all across the country,

Over the last one year, Mexus has incorporated the recommendations of the panel in its product development and has launched innovative products such as interactive touchred pens and curriculum-based comic books. These products, which promote experimental and self-learning tendencies among children, have received tremendous response from schools.

At the event, Mexus Education unveiled its holistic education programme – the Iken School Ecosystem, designed to keep students engaged in the classrooms with interesting animation, short movies, and quick quizzes.

Mexus is planning to take this new approach of education beyond the metros. Reaching out rapidly in developing cities like Kochi and Jaipur is the first stage of the broad expansion plan. It is a global venture by the Bilakhia Group.

With the increasing adoption of the Internet among children, virtual school opens up an inter-school platform for children to discuss their thoughts and ideas and access the notes and assignments. The parents also can stay updated on the performance of their wards and

At present, Mexus Education serves over six lakh students across continents and has a dedicated team of over 400 professionals from top institutes like IIT, BITS, NID and classy business schools and experienced teachers and child psychologists.

Mr Anil Goyal, Director of Mexus Education, said at Eduvate India 2011: “Mexus has taken this initiative to of-

PASSLINE

July 31 - August 31, 2011

Nokia unveils ‘Made in India’ dual SIM phones Nokia C2-00 Dual SIM Internet and Nokia X1-01 Dual SIM Music phones were launched in Kochi recently.

The company claims that No0kia C2-00 Dual SIM Internet and Nokia X1-01 Dual SIM Music phones are innovative, stylish and affordable for the Indian market.

Both models, made at Nokia’s factory in Chennai, offer “the most convenient and intuitive experience available for switching between SIM cards, without compromising on features and fun.”

The two phones offer smarter multiple SIM management like the Easy Swap, largest-in-category expandable memory capabilities (32GB for Nokia C2-00) and enhanced music capabilities (in-built loudspeakers at a whopping 106phon for Nokia X1-01). In addition, Nokia C2-00 and Nokia X1-01 are available at attractive and affordable prices, according to Mr T S Sridhar, Regional General Manager (South), Nokia India.

He says the intuitive devices remember the settings for up to five separate SIM cards. Both the devices come with Nokia’s innovative services, including Nokia Life Tools, which gives the consumers a wide range of information covering healthcare, agriculture, education, and entertainment.

35

Acumen’s Thrissur branch opens The new branch of

Ms Lakshmi Panambaka, Union Minister of State for Textiles, delivering the inaugural address.

Natural fibre resource centre opens I ndia’s first natural fibre resource centre was dedicated to the nation by Ms Lakshmi Panambaka, Union Minister of State for Textiles, the other day. Located at Poyya near Kodungalloor in Thrissur district, the centre is an initiative of Kottapuram Integrated Development Society (KIDS) in association with the Handicrafts Department, Ministry of Textiles.

KIDS, a charitable organization formed in 1988 for the uplift of people belonging to the lower strata of society, started its initiative in natural fibres by organizing 3,000 employees in the endangered thazhappaya industry under selfhelp groups. Considering the contributions made by KIDS the Textile Ministry bestowed on the institution the status of a cluster under Ambedkar Hastha Silpa Vikas Yojana. This cluster is considered

to be the first one in India for natural fibres, and during the 11th Plan period when the idea of a resource centre for natural fibres emerged, the ministry allotted the centre to KIDS. The centre will be a single-window solution to all problems faced by the manufacturers of natural fibres. It includes provision of information on raw materials, industrial development and credit facilities.

The centre will also benefit the more than five lakh craft people engaged in the industry in the country by meeting their various needs.

Fr Johnson Panketh, Executive Director, KIDS, presided at the inaugural function and Mr S S Gupta, Development Commissioner of Handicrafts, delivered the keynote address. Mr K P Dhanapalan, MP, Mr T N Prathapan, MLA, and Mr S Sharma, MLA, also attended the function.

the leading share broking firm Acumen Capital Market India Limited was inaugurated by Thrissur Mayor I P Paul recently at Suharsha Tower on Shoranur Road. Catholic Syrian Bank Director and prominent financial expert T S Anantharaman and former MLA T V Chandramohan attended the function. Branch Manager T F Joshi proposed a vote of thanks.

Thrissur Mayor I P Paul inaugurating the new Branch of Acumen Capital Market India Limited. Branch Head T F Joshi, CSB Director T S Anantharaman and former MLA T V Chandramohan are also seen.

WMC business awards summit in September T

he global wing of the World Malayalee Council (WMC) will organize its first-ever Kerala Business Awards (KBA) Summit in Kochi in September 2011. The event will recognize top-class Malayalee entrepreneurs in different sectors of business and industry, such as tourism, finance, FMCG, education and health.

recipients of the awards and will be an annual event thereafter. The surplus generated by the event will be used for charity. The nominees will be selected from 15 different sectors of business and industry. There are Malayalees who have nationally and internationally acclaimed business ventures.

According to Mr V C The highlight of the Praveen, WMC Global Presievent will be the presence V C Praveen dent and Convener of the of Indian business icons event, the summit will be unique. who run multinational business venUsually such functions are orgatures, says Mr Praveen. For eliginized with the sponsorship or finanbility, entrepreneurs must have a cial support of the recipients of the legacy of 20 to 25 years in his/her awards. KBA will be an entirely difpresent business and a reputed ferent concept. There will be no fitrack record. Management stunancial involvement for any of the dents, CEOs of companies and recipients. The event will be manmembers of industry and commerce aged by the sponsorship and suporganizations will also participate in port of corporate houses run by nonthe event, says Mr Praveen.

‘India has better trade ties with US than with China I

CSL delivers platform supply vessel Cochin Shipyard Limited (CSL) recently delivered a platform supply vessel, ‘Troms Capella’, to Clean Design 81, AS, Norway. This is the first time in India that such a high-technology offshore vessel has been constructed and delivered according to the exacting quality standards of the Norwegian owners.

The protocol documents of the ship were signed

by Mr Jose Mathew, Executive Director (Design), on behalf of CSL and Mr Geir Lie, Chairman of Troms Offshore Supply AS, on behalf of the buyers in the presence of Mr Svein Hoel, Managing Director of Troms Offshore Management AS, Norway, Mr V Radhakrishnan, Director (Technical), and Mr Ravi Kumar Roddam, Director (Finance) of CSL.

ndia is able to accelerate its growth momentum in the trade and investment sector and its trade ties with foreign countries have improved further, according to Mr Andrew T Simkin, Consul-General of the US in Chennai. He was speaking at a face-to-face programme organized under the aegis of the Indo-American Chamber of Commerce (IACC) and Indian Chamber of Commerce and Industry (ICCI) in Kochi. The US is continuing its good relations with India in all sectors including trade and higher education and is also aiming to enhance its cooperation in the coming years. “India’s trade dealings with the US, are ten times more than those with China. India is bettering its relation with other countries in the commercial sector and expediting its growth in the investment sector as well. The relationship with India in many sectors has contributed to the growth of the US econom,” said the Consul General.

Mr Vijay Narayan Govind, Chairman, IACC, and Mr P Prathapachandran, President, ICCI, spoke.

PASSLINE

July 31 - August 31, 2011

CSL launches two offshore vessels

Cochin Shipyard Limited (CSL) launched two

offshore support vessels—0BY 80, an anchor handling tug supply vessel, for the Shipping Corporation of India and BY 84, a platform supply vessel for Brage Supplier, Norway—on July 19. They were launched by Mr V Radhakrishnan, Director (Technical), in the presence of Cmde K Subramaniam, Chairman and Managing Director, and Mr Ravikumar Roddam, Director (Finance).

BY 080, to be named SCI Urja, is the last of a series of four and BY 084 is also the last of a series of four platform supply vessel of type PSV 09 CD. 4. CSL presently has 34 ships on order.

The shipyard posted an impressive performance for the fifth year in a row in 2010-11. The turnover went up to Rs 1,462 crore from Rs 1,417 crore in the previous year. The net profit was Rs 227.53 crore (Rs 223.04 crore).

APPOINTMENTS

36 Dr A S Rao on the board of MobME Wireless V J Kurian CIAL MD Mr V J Kurian, former Spices Board Chairman, has taken over as the Managing Director of Cochin International Airport Limited (CIAL). This is the third time he becomes the chief of CIAL. Mr Kurian is also the Principal Secretary of the Water Resources Department.

Dr A S Rao, Director for Innovations at Center for Innovation Incubation and Entrepreneurship (CIIE)–IIM Ahmedabad, has been appointed to the Board of Directors of MobME Wireless Solutions Pvt Ltd, a Technopark company. His appointment has been approved by the Registrar of Companies and by the Technology Development Board, the Government agency.

Dr Rao is a senior mentor to Indian innovators with extensive experience in industry, government and academics. He orchestrated the Technopreneur Promotion Programme (TePP) of the Department of Scientific and Industrial Research (DSIR) supporting over 300 innovators with a network of 20 outreach centres and 80 technology angels. He was the Founder-President of Indian Innovators Association, Indian affiliate of IFIA (International Federation of Investors’ Association). He is also a consultant on the ‘Innovation Cluster’ initiative of DST implemented by Foundation for MSME Clusters.

MobME Wireless is a young and vibrant mobile media and entertainment company focused on value-added services for mobile phone users and carrier-grade solutions for mobile network operators. The company’s in-depth understanding of the telecom ecosystem has enabled them to deliver solutions to enterprise customers through multiple products and services.

Mr

Noyal Thomas has assumed office as the Chief Executive Officer of Non-Resident Keralites’ Affairs Department (Norka-Roots). He Has been an officer of the Kerala cadre of the Indian Forest Service, 1991 and was serving as the Housing Commissioner.

Nabard Chairman D r Prakash Bakshi has assumed office as the Chairman of Nabard (National Bank for Agriculture and Rural Development). He was Executive Director of the bank.

Dr Bakshi, who has served as the chief of the bank in Kerala and Tamil Nadu, started his career as a lecturer in Ravisankar University, Raipur. He has also served in the Reserve Bank of India and holds a PhD in Economics.

Kerafed Chairman Mr V P Saseendran has been elected Chairman of Kerafed (Kerala Kerakarshaka Sahakarana Federation Ltd). He was the President of the Ernakulam District Cooperative Bank.

The election followed the resignation of Mr M Sukumara Pillai.

Dr Jayathilak has assumed charge as the Chairman of Spices Board. He was functioning as the State Agriculture Department Secretary and Director.

Dr Jayathilak had been the District Collector of Kollam, Kozhikode and Managing Director of KTDC and Managing Director of Chathisgrah Tourism Board. He took charge from Acting Chairperson Sheela Thomas who was holding additional charge of Spices Board.

He is a 1991 IAS batch officer.

Syndicate Bank GM Mr K P Muraleedharan has assumed office as the General Manager (Personnel) of Syndicate Bank. A native of Alathur in Palakkad he was the Chairman of the Karnatak Vikas Grameen Bank.

WA N T E D

Norka-Roots CEO

Jayathilak is Spices Board Chairman

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37 Beginning with this issue PASSLINE will pen a new column, CEO TRAIL, that will speak to CEOs of different firms and organizations. The inaugural column is on RAJIV NAIR, Managing Director, Stallion Systems and Solutions Pvt Ltd, Kochi. Excerpts: Your first job?

What did you learn from it?

I was picked by a bar code company during a campus interview at Chandigarh while I was doing my BTech in Electronics. I was sent to some countries for training in bar code technology to become the first-ever trained bar code professional in India.

How did you groom yourself as a future CEO? After working in Delhi for several years in this field I decided to start an enterprise of my own in Kochi as I had an urge to come back to my home state.

Your area of focus and ethics in the business?

Today we are the third top bar code and RFID solutions company in India and the Middle East with 16 direct offices and many partners.

How do you act as a team leader?

I believe in a system-driven approach which is developed and approved by the whole team. As team leader I identify the right person for the right job and he/ she gets a lot of leverage and empowerment. My involvement comes only if there is any deviation from the system.

The moment which you don’t want to recollect?

I am a very positive-minded person and try taking and making any negative situation in a positive way. Hence I do not have any moment that I don’t want to recollect.

Things you love to do in your leisure?

Very little leisure is available with me as I am a workaholic. In fact I have a lot to do. However I enjoy spending time with groups of friends and crack jokes at each other’s expense. I also love to spend time watching good programmes on TV and working out at the gym.

Your family?

I got married while I was in Delhi to Asha; that was before settling in Kochi.

Son Manav is studying in Plus II and daughter Nimisha is in the 8th standard, both at Toc H School.

The gadgets in your possession and those you would like to add?

I am not very oriented to gadgets, but am very happy with my BlackBerry torch and Sony Viao laptop.

The car which you own now and the next one you love to buy?

Being a BMW Foundation Young Leaders’ Forum alumnus I had no choice but to own the BMW 3 Series. I have not decided on which brand to buy next, but will take a call when it is required.

The best holiday spot in your life?

Your dreams and aspirations?

I love the serene backwaters and village scenes of Kerala. However the best place I have seen so far is Gold Coast in Australia.

I have been working very very hard in the past to set up everything. Now I dream of leading an easy yet responsible life to catch up with a lot of leisure which I can spend on travelling to all corners of the world to experience their culture and traditions while, at the same time, trying to make the organization bigger and better. I aspire to be more creative.

Tips to the up-and-coming entrepreneurs?

There is no shortcut to hard work.

Dream the impossible. Always keep an image of the final destination where you want to be and the route you are taking in your mind. Every day make a review within your imagination. While taking every step make sure you are not hurting anybody around you and not doing anything wrong knowingly.

Always do things differently. There should be an element of innovation in every thought and action of yours.

Chandrasekhar brings expertise, knowledge to the post Mr K M Chandrasekhar, who took over as Vice-Chairman of the Planning Board of Kerala last month, brings to his position a wealth of knowledge and expertise.

A former Cabinet Secretary, Mr K M Chandrasekhar Chandrasekhar is a 1970-batch IAS officer from the Kerala cadre. In his new post, he holds Cabinet rank.

After graduating from St Stephen’s College, Mr Chandrasekhar had got an MA in History from the University of Delhi and also earned an MA in Management Studies from the University of Leeds.

He was Director of Fisheries in Kerala, Managing Director of Civil Supplies in Kochi, Revenue Secretary of India and India’s Ambassador to the World Trade Organization (WTO) in Geneva.

Chandrasekhar is married to Jaya. Their daughter heads the Automotive Component Manufacturers’ Association in Bangalore.

WOMEN ENTREPRENEURS Passline News Service

Traditionally women in business and industry make their way to success and to the top through family connections. Many still do. But the new economy, with its flexible structures and ethos of meritocracy, is providing an important avenue of advancement for women of talent and determination.

Daisy Joseph arrived at the top of a trading firm her husband, A V Joseph, had started two decades ago. She was introduced to the business by Joseph himself—the only ‘family connection’ she has had. What Joseph launched was a modest electrical goods shop, Everest Agencies, in Kochi, with an investment of just Rs 10,000. Whenever he was out on business, Joseph used to entrust the responsibility of running the shop to Daisy. In no time the turnover reached Rs 1.20 lakh. A couple of decades later, she presides over a small empire with 60 employees, revenues of Rs 30 crore and a successful business portfolio. It stocks products of such great and popular Indian companies as Havell’s, Crompton and CrabTree and imports electric lights and fittings from China and Korea. By the dismal, money-losing standards of many such firms, Daisy passes her own test wonderfully well.

What is behind the astonishing turnaround of the firm? For the most

Daisy Joseph

Meritocracy to the fore part, Daisy herself. And then the guidance, vision and connections of Joseph. But she was the one who decided that Everest Agencies should go full-speed ahead in the electrical equipment field and it was her determination that helped it do so successfully.

Kerala-born, Andhra-educated, fluent in English, Malayalam, Telugu and Hindi, Daisy now exercises total control over Everest. The feat she has achieved is extraordinary for a person who describes herself as an ‘accidental business person’. Those who know her offer reasons for her success—hard work and attention to detail, Daisy was a mere homemaker with two children, unfit even to be an armchair businesswoman. Soon she became a sleeping partner in the business. Now she runs the shop and her home with equal dexterity.

Daisy, who went to Andhra Pradesh while she was a child (her father was employed there), earned a postgraduate degree in Commerce there.

Electrical goods are not as sexy as, say, the LED TV or the iPod. But she knows that they are essential products widely used in industry and homes. Her goal is to provide the latest and the best in the field to customers whether they are industries, business houses or the common people.

PASSLINE

Her husband is not a patriarch looking over her shoulders. So one advantage she has is that neither he nor anyone else calls the shots, and decision-making remains with her.

She credits her husband with giving ‘enough rope so his wife won’t encounter any major problems’. She has brought to the business an analytical mindset so different from traditional norms and put her own stamp on things. She was of course in the right place at the right time but she is successful because she is comfortable with change and makes decisions quickly as she knows that fast decision-making is the key to success at retail businesses.

Daisy came into business with neither an MBA nor any experience in the field. What she had was an MCom degree and plenty of determination. “You have to know how to do a lot of things, understand challenges, support each other and make changes fast,” she says. If there were a category for most successful women, Daisy would be a leading contender.

The Joseph-Daisy couple have two sons, Gibin Joseph who is doing his MBA and Gintu Joseph who is a BCom student.

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Infopark will boost Kerala’s IT boom, says Gigo Joseph, CEO T

he Kochi-based Infopark, which has contributed in a big way towards state-of-the-art infrastructure development for IT and ITES companies in Kerala, will continue to do so, in fact in a bigger way, according to Mr Gigo Joseph, its new CEO. In a recent interview to PASSLINE, Mr Gigo Joseph stressed that “Infopark has become a hot destination for the global IT fraternity.” The first phase of its development is nearing completion.

‘Athulya’, the last complex in the first phase of the development, has been completed, and the oval-shaped building has already been rented out for occupation. The second phase is planned on 160 acres of land and expected to create 80,000 jobs in eight years. The work, started according to the cannon designer’s master plan, includes buildings of 80 lakh sq ft. The first building of 4 lakh sq ft is expected to be completed by December 2012.

Infopark is looking for co-developers and IT companies to develop their own campus in the second phase.

Mr Gigo Joseph said the presence of companies such as TCS, Wipro, Ernst & Young, ACS and Cognizant shows how well the brand Infopark Kochi has positioned itself on the global IT map.

Mr Gigo Joseph had been in the United States for 12 years, working with IT majors like IBM, UTSTARCOM and 3Com. He was working with Infosys in Thiruvananthapuram before taking over as Inforpark’s CEO. He did his MS in Computer Science from Depaul University, Chicago, and MBA from Northern Illinois State University, US. “The Central budget of 2011-12,” he says, “has anticipated GDP growth of over 9%, considering the pace of growth in the sectors like service, manufacturing and agriculture. Infrastructure development has been given a lot of fillip in the budget with an allocation of Rs 2,14,000 crore for development and promotion, and Rs 30,000 crore as tax-free infrastructural bonds.

The budget also raised the limit of FII (foreign institutional investment) in the real-estate sector to $25 billion from

$5 billion. These measures will step up the private participation in the realestate sector to contribute to the proposed growth to $1 trillion during the Twelfth Five-Year Plan.”

“The spurt in the demand for space,” Mr Gigo Joseph says, “was witnessed in 2010, too, despite a slowdown in the economy. The supply of the space in the first quarter of 2011 was 7.07 million sq ft, out of which 6 million sq ft was absorbed. Bangalore, the hub of the country’s IT activity, led transactions by absorbing 36 % of the supply, followed by Pune, Noida, New Delhi, Mumbai, Hyderabad, and Chennai.

“The scenario,” says Mr Gigo Joseph, “is not different at Infopark Kochi.

The demand for built-up space is increasing. We are not in a position to cater to the built-up space needs according to the demand. As a part of the ‘hub and spoke’ model, Infopark is also expanding its operations to Koratty and Cherthala. In Koratty, we have developed 50,000 sq ft so far, and we have a plan for an SEZ. Cherthala will be an ideal destination for BPO

ASIET—most-sought-after technical college E

stablished in 2001, Adi Shankara The Adi Shankara Trust, estabInstitute of Science and Technology lished with the blessings of Jagadguru (ASIET) soon became the most- Sri Sankaracharya Mahaswamikal of sought-after institute in the technical Sringeri Sarada Peetham and guided education sector in Kerala. Located at by the great vision of Adi Shankara, Kalady, ASIET has been providing keeps the light burning for generations value-added professional eduto come. It has been a pioneer cation with technical excelfor the last 50 years in caterlence and ethical values since ing to the growing demands of the beginning. Coming under highly specialized science the Adi Shankara Trust, a reggraduates and technologists. istered trust which has carved The other institute run by the a niche in the educational trust is Sree Sarada arena, ASIET offers BTech and Vidyalaya, Kalady.

Dr B S Krishnan MBA courses.

The objectives of the trust The vision of ASIET is to include the bringing of excelprovide a good environment for lence in the engineering, agriindividuals to transform into cultural and medical fields by technologically superior, soorganizing higher education cially committed, spiritually courses in these areas. The elevated and nationally retrust also desires to conduct sponsible citizens. Approved educational institutions and Dr S G Iyer by the All India Council for hostels inspired by the ancient Technical Education (AICTE) and af- ‘gurukulas’. It stands for secular moral filiated to Mahatma Gandhi University, values, giving importance to Indian culthe college is accredited with ISO ture. Popularizing Sanskrit education 9001:2000 certification. ASIET is and in-depth study of Vedanta thought claimed to be the first new-generation is another objective. engineering college to get the prestiASIET is managed by Dr B S gious international standards certifica- Krishnan, Managing Trustee, and tion, which is done by KPMG Quality headed by the electronics wizard, Dr Registrar and accredited by the Dutch S G Iyer, who is ably assisted by a Council of Certification for quality tech- group of young, dedicated and comnical education. petent faculty.

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July 31 - August 31, 2011

companies because of low cost of operation. There are 15 colleges and 10 schools in and around Cherthala.

Hence, the availability of human resource will not be problem for the BPO companies.”

According to NASSCOM, the IT and ITES sectors are poised to grow at the rate of 16% to 18% in 2012, says Mr Gigo Joseph. He adds: “In 2010, Kerala’s export earnings in IT amounted to Rs 3,500 crore, out of which Rs 850 crore was Infopark’s contribution. This means that we have to add more space to cope with the demand. Athulya was fully taken up even before its completion. We are getting a lot of enquires from the SME and MSME sectors for built-up space.” The second phase is expected to address the huge demand.

Mr Gigo Joseph makes it clear that as a part of the future plans for the IT sector in Kerala in general and Infopark in particular, he “intendeds to promote a council to ‘sell’ the state as a brand to destinations such as Australia, the United Kingdom and the United States.

Trade shows and road shows have been planned in these countries to promote Kerala.”

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RN 65561/94 Reg. No. KL/EKM/116/2009-2011

Prizes awarded to winners of election result contest

ollowing a prediction contest based on election results, conducted

by Indiavision News channel in association with Orion Battery, a leading battery brand in Kerala, cash prizes were distributed to winners at a function held in Kochi recently. Mr M P Babu, Chairman of Orion Battery, awarded a cash prize of Rs 1 lakh to Mr Akhilesh Kumar who predicted the exact number of seats won by the UDF and the LDF. Mr Arun who won the other contest which was to predict winners of 30 key constituencies was given a cash prize of Rs 50,000. Mr Babu also handed out an LCD TV to Mr Shanthakumar, the winner of â&#x20AC;&#x2DC;Question Timeâ&#x20AC;&#x2122;.

Mr Musafer Ahammed, Director, Orion Battery, presided over the function. Mr K V Mathew, General Manager, Indiavision, and Mr C L Sajeev Kumar, CEO, Orion Battery, spoke.

Printed and Edited by Varghese Paul for Keethara Publications Pvt Ltd. 6802, Convent Road, Kochi-35 Tel 3043572 Email:passline.com@gmail.com and Printed at Ayodhya Printers Pvt Ltd., Cochin-26 Design & Layout by johnson