India Inc buzz: Parle b’day bash; Ayodhya guest-list

SUITS & SAYINGS | ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors and policy parlours:Call DropThe absence of a business leader at a virtual industry event has raised eyebrows and whispers have become louder that this kind of rebuff does not bode well for the company in question. According to some, the industrialist was all set to go ahead with his recorded speech but decided to stay away at the 11th hour. This seemed odd, especially as top government officials and other industry heads were part of the event. One wonders if this signals a hands-off approach by the leader to this unit of the conglomerate.Eager BeaversSpeculation on who will be invited for the bhumi pujan in Ayodha has already reached fever pitch, even though only 200 are expected to make the cut, given distancing rules. Some may be uncomfortable making a public appearance, but there are several leaving no stone unturned to get on the list. Being there could be a matter of deep-seated faith for many of those jostling for an invite, perhaps even the road to salvation.Fit & ProperIf this high-profile corporate succession was almost a slam dunk just a few weeks back, a spate of mostly negative and controversial news items might have suddenly made it a little less certain. We even hear the regulator is probing to be doubly sure to check the ‘fit’-ness quotient of the anointed one. Even as that famous saying about Caesar’s wife comes to mind, we also can’t stop wondering if all this implies a subtle victory for a key shareholder?Under the TableAcquisitions can get messy as this online retailer found out recently. Its team was in the middle of negotiations with a larger peer but was not happy with a low offer. That’s par for the course in such situations. But the moment negotiations soured, the seller apparently caught the counter-party making offers to poach its team and decided to go the mattresses. Upon being confronted with ‘solid proof,’ retaliation was the only option. Last heard, another online market place, much bigger in heft and financial muscle, which was to invest even in the past, had revived its interest and might soon even take it over. Smart shopping, eh?A New PitchA few weeks back we expressed our surprise in this column when we told you about this billionaire, somewhat bruised recently after overseas real estate bets went awry, being approached to buy into a mid-size bank seeking to raise funds in these trying times. But now we learn the list of suitors could be long, with several of his pals from Delhi joining to scope out the opportunity. We hear at least two family offices with roots in auto, financial services and FMCG have got calls. Co-owning cricket teams is one thing but banks could be a sticky wicket. But then again, these days bancassurance deals are the hot sauce.Zen & the Art of MaintenanceThis industry body has been falling apart with members at loggerheads for over two years on most things that affect the sector. Some would put the blame squarely on the hubris of the incumbent president while others would say that global disruptions are altering the very fundamentals. It won’t be surprising if industry seniors are forced to step in to bring a semblance of order in a sector critical to the country’s growth. Perhaps some Zen philosophy from the successor would be enough to soothe the frayed nerves by the end of the year.Strategic AllianceHis considerable financial clout and influence over local media is well known but that a state transport minister is cozying up to a business group with deep ties to the government has not gone unnoticed in several political quarters. For starters, he’s from a state the ruling party wants to seize by unseating the mercurial incumbent. What’s adding grist to the rumour mills is the fact that his coastal constituency is also home to a strategic asset and he actually is in charge of that, being the local mantri and the conglomerate concerned is a dominant force in that space.Kissa Kursi KaIt could have been a routine VRS that would have otherwise gone totally unnoticed. But when we heard the top boss of this retailfocused financial services firm is quitting to possibly head a housing finance company, we sat up. After all, a top-flight PE fund has backed both these ventures and continues to stay invested in them. So we called up our headhunter friends to figure out if this was some kind of talent acquisition from one of its most successful investment to another that badly needs a turnaround. It’s seldom that a fund would do so unless things have become critical. 77324612Capital StockNow that this banker-turned-consultant is back in the saddle in this important joint venture after a stint in the Far East, one can’t help but wonder about the timing of his return. There are many who believe he’s primed for bigger things in the days ahead as the current boss of the shadow bank that’s also a part of this big group has nothing much to show off by way of performance. We are not saying that his job is at stake at the moment, but what is clear is that the earlier plan of making him the overall head of the entire financial services vertical is not happening in a hurry.Tunnel VisionFor months end, the cold war between the secretary of this ministry and the managing director of one of the PSUs under him has ensured files piling up and the progress of several projects getting stalled. It may hit a new low with the last day for bid submission for a key infrastructure project in Kashmir that despite its tactical and national security importance has already seen significant cost and time overruns. Chances are the price difference between the government’s bid ask, seen by most as impractical, and the actual offers will once again throw the whole exercise in a disarray, rue industry insiders who have been victims of this ego battle between the babu and the technocrat. If only the performance-oriented minister would intervene!Soul Sisters The Chauhan sisters have always been each other’s support system in business and beyond. So it was just great to see Alisha and Nadia along with their mom and the kids all come together and plan a K-Popthemed birthday party for eldest sister Schauna on the weekend. Turns out Parle’s power-packed girl is a big fan of Ji Chang-wook, the Korean heartthrob. So a cake with the star’s face and several life-size billboards made sure everyone’s favourite didi/masi had one of the best #famjams ever, even during the lockdown. 76276918

from Economic Times https://ift.tt/33k1kGj