Tuesday, November 07, 2006

Judicature Irony - Jessica Vs Manu

April 29 1999, Tamarind Court Cafe, a restaurant in New Delhi. The party was attended by more than 200 swashbucklers. Bureaucrats, Politicians and the business man besides the upcoming model, Jessica Lal. At 2 AM came the glaxo baby Siddharth Vashisht alias Manu Sharma , the son of Venod sharma, Haryana Politician.
(a narration of the arguments happened the)

Manu (with his friend) : hi !!
Binu, Restaurant owner daughter : Good Evening sir
Manu: Cutty Sark one bottle (scotch bottle)
Binu: Sorry sir, think you have come late. The bar is closed!
Manu: Oops! How can u say that? Does u know who am I?
Binu: please! Kya hoo aa thum koo. Abhi bar Bandh Hogya Sir!!

Frustrated Manu raised his .22 pistol and fired the first round on the air and the second one at the model Jessica, astounding the gathering. The Aashlok Hospital chief, Alok Chopra confirmed the death. Among the 200 odd men present the Delhi Police could get only three covetous witnesses are Shayan Munishi, the restaurant electrician, Shiv Das, Karan Rajput , uncle of restaurant manager Jitendra. It all happend in the year 1999.

Seven years later, Feb 21, 2006, the verdict from Delhi High Court was inclined towards the delusive disputation of Manu’s Innocence. All the witness losing their credibility favoured to expel the suspect. What`s be the reason behind the breach of truth? It’s all obvious the political atavism in the other form.
It’s a common knowledge that there is no rule for tje political game indeed the politicians too. They sets the rules and changes them often. But the greatest pathos lies in the integrity of the Lawyer appearing the defense, Ram Jethmalani's.
The man who held the post of Law Secretary and who contested for the post of PM with Atal Bihari Vajpayee from Luck now, in 2004. His annunciation appearing for the defense is a National irony.
In his recent interview with Sakarika Ghose of CNN IBN he has scintillated the fact of today electronic media, news channels in particular besides the throwing light on the legal boundary of the same.At the same time a person of his caliber appearing for a cold blooded murder raises question about his jingoism. There are ways, if the intention is to prove attribute.
It’s all an evidential fact that Manu Sharma is the Murder by the gounds he was arrested under Sec 308 (Murder) and Sec 120B (Criminal Conspiracy) of IPC, but expel him under the grounds of witness statement raises a keen incertitude of the Indian Judicial system.
The will of any court is to issue judgment based of the facts, these facts has to be preserved by the Police department that’s how the word “Law and Order”. The sin is that even the esteemed Delhi Police has failed to do the duty by safeguarding the witness from all form of scourge.
The polarization of DHC Justice on the legal front is note worthy but the question arises only on the man defending the criminal, should Manu be expelled from the case?
With the entire occurrence, the concluding remark is that Manu is the murdered. The two rounds from 0.22 rifles prove the rest. If Manu can be expelled stating the lack of evidence it shows the inefficacy of Delhi Police besides collapsing the communal security in the country. Arguing from the other side of the road, one could catch the corrupt and nefarious politicians
and the abusive breach of their political power.
If Manu is set free, it sets a path for the so called influential people to act according to their baleful will. Mr Jethmalani is a successful lawyer but this is not the case, indeed time for him to prove his talent. The gain from this case are not muc, Of course than a reputation among felon or politicians, if he need these at this juncture. At this time of economic boom and side effect of the same there are many in the Pandora`s box to be challenged than one of this kind.
All one can believe and ask is for a strong prosecution which could teach a lesson and checks the occurrences of these crimes in the future. JAIHIND!
(augmentation continues................)

Vettaiyadu Vilayadu - RAP Song

Raghavan.. ,stay in de process !
top dollar,curry lives!!
yeah...come on
Lets go...

You speed and you get pulled over
And the breath analyzer test provides proof that you aint sober!!
Good Cop!

Stop the beat, it'll be my daughter crossing the street (?)

If your brand new Buick Skylark, a work of art
and its not sitting in the last place you parked
Good Cop!

Run the place, I'ma see the little thief right after the court gate look,

A lotta of us see police's force
I ain't tryin to knock ur hussy, due to each his own
And u get violated and the beef is on
And u living with ur mom's and u see they aint grown
You gonna see my song, u read my poem
And know that top dollar n scurry lil' cannot be that wrong
Screw you manhood tops
Few good cops!

Wednesday, November 01, 2006

Insurance Sector in India

Being the monopoly, the premium rates charged by LIC was among the highest in the world,and its customer service was pathetic. With a huge workforce in the clerical category, LIC ran the risk of high fixed cost and outdated technology which decides the productivity in the competitive scenario. Its a common knowledge and fact that 80% of LIC's business is procured by 20% of its ill-trained agent force. The Liberalisation of FDI, after 1991, favoured the foreign player, with the domestic partner through brokers, Internet, banking distribution system, etc. Although foreign players keep their operation in the big cities the real market lies in rural India, which accounted for the lion's share of LIC's business.

Role of IRDA
Until recently, India was one of the few countries of the world to remain insolated from the foreign direct investment in insurance sector. However, things have changed with the Malhotra committee recommendations and passage of Insurance Regulatory Development Act (IRDA) through Indian Parliament in late 1999.

IRDA prohibits 100% foreign equity in insurance. It requires the Indian promoter to invest either wholly in an insurance venture or team up with a foreign insurer, with a cap of 26%, now changed up to 49%, of equity for a foreign partner. The Indian promoter is permitted to divest only after 10 years to the Indian public, through a public offering of shares, at which time the equity structure will provide for equal participation between the Indian and foreign partner with a share of 26%, now changed up to 49%, each in the share capital. The opearting margin of 26%, now changed up to 49%, cap for the foreign insurer is to ensure that financial interest vests with the Indian promoter, permitting the foreign co-promoter a definite say in direction and management in political resistance.

Comparision with US Model
The economic reform process in India is 'irreversible' and is producing an efficient financial system in the model of US. From a socio-economic development point of view, the huge amount of funds will be at the disposal on the avenues like infrastructure, housing, drinking water, Irrigation, agriculture, electricity and primary education. The growth of the debt market,nothing but loans, will also get a boost as the funds from insurance companies start flowing into the kitty of the corporate sector. Not only that, the Equity market indeed will have a visible growth.Take the example of ICICI Prudential (ICICI- India Pridential-UK) . The money invested by a customer in deed being invested on equity or mutual funds resulting in the causation of increased liquidity.

Conclusion
There is a noteble change in the insurace industry since 1991. The raise in income levels of a mid-aged Indian has paved the digresion on investments and the insurance seems to be the "no-harm" deal. The foregin players has influxed the prima facie viz wider reach, technical advancements and greater customer focus in the retail market, consequently this makes the common man to opt them. Besides the retail sector the wholesale investments from the corporates will continue to grow in the near future. All this lies on the continual improvement in the economy. Hoping that, its high time to invest for our growth and nation indeed .