M.R. Venkatesh -
About MRV
M.R. Venkatesh is a Chartered Accountant who addresses the Business concerns relating to Economic Policies, International trade and Business strategies.
M. R. Venkatesh passed Chartered Accountancy in 1992 with an all India Ranking and has been in active practice since 1993 as partner of GSV Associates, Chartered Accountants, Chennai.
M. R. Venkatesh has authored books titled "Sense, Sensex and Sentiments" and "Dr. Manmohan Singh - A DECADE OF DECAY" .
Recent Updates
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Friday, 06 December 2013
Read more...This is the second part of a two-part article. You can read the first part here.
In a record of sorts, for the first time in the history of LIC, the then sitting Chairman TS Vijayan was not given an extension to complete the one-and-a-half years of his remaining period of service. Worse still, a secret note of the Ministry of Finance indicates the original proposal to ideally demote him to the position of Managing Director on his completion of tenure on May 2, 2011.
Strangely a person who was considered unfit in 2011 to be a Chairman of LIC and in the view of the Ministry of Finance, considered inappropriate to be appointed even as the Managing Director of LIC was short-listed in late 2012 for the post of IRDA – the insurance regulator which ultimately controls LIC! Gallingly, the Finance Minister in January 2013 goes on to select TS Vijayan in view of his “splendid record.”
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Friday, 06 December 2013
Read more...A person who was found unsuitable for being the Chairman of LIC and was to be demoted – yes demoted – to the post of Managing Director of LIC. That was in view of the “pending vigilance clearance,” and consequently TS Vijayan could not be accommodated even in a position of managing Director and the only option was to revert him to the post of Executive Director or Zonal Manager. Well that was in April 2011.
Yet, despite all this in January 2013, the Finance Minister finds him to have a “splendid record”! Wonders never cease with the UPA, do they?
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Tuesday, 19 November 2013
Read more...In the first week of October 2013 several media reports pointed to certain serious irregularities in the financial statements of Gujarat NRE Coke Limited – a listed company in India. The amount involved in this “corporate fraud” according to these Press reports runs into several thousand crores.
Central to the issue of Gujarat NRE Coke is the refusal by the auditors of the overseas Australian subsidiaries to certify them as ‘Going Concern’ – technically implying that these subsidiaries are gone hook, line and sinker.
All these are part of larger scam involving India’s outbound Foreign Direct Investment program.