DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE MONDAY, DECEMBER 10, 2018, PUNE, LATE CITY, 14+4 (NEWSLINE) PAGES `5.00 WWW.INDIANEXPRESS.COM SINCE 1932 VHP’S DHARMA SABHA IN DELHI ED SENT NOTICE TO FIRM NOV 29 LALMANI VERMA NEW DELHI, DECEMBER 9 BUSINESS AS USUAL BY UNNY TWO DAYS before Parliament meets in its Winter Session, RSS sarkaryavah Suresh ‘Bhaiyaji’ Joshi told a rally of Hindu religiousleadersandtheirfollowers in Delhi that a law to build the Ram temple in Ayodhya was now the “only option”, and the “rulingdispensation”shoulddeliver on its commitment. Hansdevacharya Maharaj, a prominent religious figure from Haridwar,toldthegatheringthat the sants would not allow Narendra Modi to leave the post of Prime Minister before the BJP had fulfilled its promise to build the Ram temple. Sunday’sgatheringwasmuch bigger than the similar Dharma Sabhas that the Vishwa Hindu Parishad (VHP) has organised in Nagpur,Ayodhya,Bengaluru,and At the VHP’s Dharma Sabha in Delhi Sunday. Prem Nath Pandey Mumbaiinrecentweekstopress for the construction of the temple in Ayodhya. The crowd, which senior Delhi Police officers said could be in the range of 1.5 lakh to 2 New J&K security law by Governor, Govt could have planned for Governor note ban better: Kotak MUZAMIL JALEEL NEW DELHI, DECEMBER 9 J&K IS set to get a new security force — this time, to protect the Governor and his family — with the move getting the green signalfromtheStateAdministrative Council, headed by Governor Satyapal Malik himself. J&K already has the Special SecurityGroup(SSG)onthelines of the Special Protection Group (SPG)attheCentretoprovidesecurity to the chief minister, former chief ministers and their families.TheGovernor’ssecurity is currently being handled by J&K Police’s security wing under an SP-rank officer. The new Jammu and Kashmir Governor’s Special Security Force Bill, 2018 has “provisionsrelatedtotheconstitution and regulation of a separate security force in the State of Jammu and Kashmir for providing proximate security to the Governor, members of his immediatefamilyandmattersconnected therewith”. However, the move by the Governor to introduce another law under his tenure — now for his own security — has been questioned by political leaders, who described it as “ironic” and anattempttocreate“agreatwall of China around himself”. They have also questioned the haste with which the Governor has been introducing new regulations. “It seems the Governor is makinglawsatsuchaspeedthat isn’t possible even for an elected assembly.Itisironic,’’ARRather, senior National Conference (NC) leader and former minister, told The Indian Express. “In the absence of an elected government, the Governor has the power to issue an ordinance but it has to be used judiciously. Anordinanceisbroughtinanextraordinarysituationwhenadelay could harm the interests of the state or cause a crisis. Here, the Governor wants to change everything by introducing new CONTINUED ON PAGE 2 PRESS TRUST OF INDIA NEW DELHI, DECEMBER 9 PRIVATE EQUITY (PE) funds invested $7.1 billion in real estate in 2017 — the most in 10 years — despite the stress in the sector following the November 2016 demonetisationexerciseandimplementation of GST in April 2017,marketresearchdatashow. This investment flowed mainly into commercial real estate, which, unlike the residentialpartof thebusiness,hasbeen booming. Data provided to The Indian ExpressbyresearchfirmVenture Intelligence showe private equity investment in real estate crashed from $7 billion in 2008 to $1.3 billion in 2009 before ● The RSS, VHP and sants want to keep the pressure on the government as the Winter Session begins. The pledge by the participants at the Dharma Sabha to not let Narendra Modi leave before he has built the Temple, is a statement of support for him, even if put indirectly. this direction (of building the Ram Temple). It should be their priority... public sentiment cannot be ignored and insulted.” The government, Joshi said, CONTINUED ON PAGE 2 Economic Advisor Arvind Subramanian’sbooklaunchhere over the weekend. Kotak said as part of the “execution” strategy, it was essential to ensure that a larger quantum of notes of the right denomination were made available. If such things were undertaken, “we would have been talking very differently today than now,” he said. After deciding to supersede the board of beleaguered investment company IL&FS, the governmenthadhand-pickedKotak on October 1 this year to chair a new board and turn around the institutionwhichwasdefaulting on interest payments. He has in the past praised the Narendra CONTINUED ON PAGE 2 2008 2009 2010 2011 2012 2013 Number Amount ofdeals ($billion) 162 72 116 118 83 72 7 1.3 2.9 4.6 2.1 2.3 slowing inching back. Investment in the current year has been $5.1 billion as of November-end. (See chart) “Most of the private equity investments that are happening areinthecommercialsectorand not in the residential (sector). Commercial, as a sector, has been doing really well. Since 2015, the absorption of office Facing probe by UPA govt, Jignesh Shah’s firm rented farmhouse owned by Rahul, Priyanka KHUSHBOO NARAYAN MUMBAI, DECEMBER 9 THE DAY BEFORE DAY 5 India's Virat Kohli celebrates the dismissal of Australia's Peter Handscomb on the penultimate day of the first Test against Australia in Adelaide, Sunday. AP DETAILS, PAGE 12 THE EDITORIAL PAGE PVT EQUITY INVESTMENT IN REAL ESTATE Year Indira Gandhi farmhouse in Mehrauli, Delhi. Gajendra Yadav Rental routine, UPA took decisive action against firm, Shah... Modi facing defeat, running smear campaign: Congress Cash in commercial properties takes real estate investment to 10-yr high PRANAV MUKUL E Both pressure, support ‘Why would you introduce Rs 2,000 notes?’ File MUMBAI, DECEMBER 9 THE OUTCOME of the controversial demonetisation drive would have been “significantly better” if “simple things” like introducing Rs 2,000 currency notes were avoided, banker Uday Kotak has said. The executive vice chairman and managing director of the fourth largest private sector lenderKotakMahindraBankhas also said small businesses are in a difficult situation at present, and has welcomed the government focus to revive the sector. On demonetisation, he said the outcomes would have been different if it was planned well. “I think we would have had significantly better outcomes, if we had just thought about simple things. If you are taking out Rs 500 and Rs 1,000 notes, why would you introduce Rs 2,000 notes?” Kotak asked while speaking at former Chief lakh-strong, choked the heart of the capital, and impacted traffic uptoseveralkilometresfromthe venue of the rally in Ramlila Maidan. Participants wearing saffron caps and waving saffron flags climbed on to the roofs of buses, and raised slogans of “Jai Shri Ram” and “Ram Mandir wahin, Babri kahin nahi (Temple atthesite,andnomosque)”both during the four-hour event and on the streets. In a democracy, “satta” (state power)isnotsupemebutitplays an important role, Suresh Joshi said in his speech to the Dharma Sabha. “Those who are at the centre of power need to understandthis...They(theBJPgovernment)havegivenacommitment to build a Ram temple in Ram Janmabhoomi in Ayodhya... Time has come to fulfill that commitment...Withoutanyhesitation, they should move forward...,” he said. Without naming the BJP, Joshi said “those who are in power”oughttorespectthesentiments of Hindu society. “We expect the present government to use its capabilities to move in EXPLAINED LawforRamtempleonlyoption,thosein powermustkeeppromise:RSS’sJoshi Year 2014 2015 2016 2017 2018* Number Amount ofdeals ($billion) 90 107 94 78 53 2.4 5.3 5.4 7.1 5.1 *TillNovend;Source:VentureIntelligence space has been upwards of 40 million square feet per annum. Last year, it was 42.5 million square feet, and in 2018, we expect it to be more than 40 million square feet. Because of the leasing that is happening in the commercial space, the overall sentiments are pretty strong. This is why more and more CONTINUED ON PAGE 2 RAISING QUESTIONS of propriety,RahulGandhi,thenCongress vice president, and sister Priyanka Gandhi Vadra rented their 4.69-acre farmhouse in Delhi to Jignesh Shah-promoted Financial Technologies (India) Ltd in early 2013 when the Congress-led UPA government was investigating National Spot ExchangeLtd(NSEL),acompany promoted by FTIL, for alleged market irregularities. Therentagreementbetween FTIL and Rahul and Priyanka, is dated February 1, 2013, almost 10 months after NSEL received a show-causenoticeforallegedviolation of norms. The NSEL scam became public in July 2013 and the agreement was ended in October 2013, two months before the lease would have expired on December 31, 2013. Both FTIL and the Congress said that this was a routine busi- BY BINA AGARWAL PAGE 8 INSIDE DUSHYANTCHAUTALA ANNOUNCES NEWPARTY PAGE 2 MAHARASHTRA J&JHIPIMPLANTS:FDA SETSUPPANELTOFIX COMPENSATION PAGE 3 CONTINUED ON PAGE 2 After a BJP MP backed accused, another takes aim at murdered SHO AMIT SHARMA GENDER EQUALITY TO FOOD SECURITY ness transaction. Responding to a questionnairefromTheIndianExpress,the CongresssaidthattheUPAatthe Centre and the Cong-NCP government in Maharashtra had, in fact, taken “decisive civil and criminal action” against FTIL, Shah and other entities associated with him. These included Shah’s arrest. On November 29, the Enforcement Directorate wrote to FTIL (now called 63 Moons TechnologiesLtd)seekingdetails of its agreement with the Gandhis, The Indian Express has confirmed. Jignesh Shah-promoted FTIL signedan11-monthleaseagreement to rent Indira Gandhi Farm House in Mehrauli at a monthly rent of Rs 6.7 lakh. FTIL also gave an “interest freedepositof Rs40.20lakhvide twoseparatechequesof Rs20.10 lakh”, respectively to Rahul and Priyanka Gandhi. The company wanted to use the farmhouse as a guesthouse for its guests and ‘Policemen posing a hindrance to CM’s dream’ MEERUT, DECEMBER 9 DAYS AFTER a BJP MP came out in support of the main accused in the killing of SHO Subodh Kumar Singh following a brutal attack by a mob over the alleged killing of cows in Bulandshahr, another MP from the party has chippedin,thistimetopointfingers at the slain policeman. Meerut MP Rajendra Agrawal told The Indian Express Sundaythattheteaminvestigating the violence last Monday should also check whether the SHO became a target because the station under his charge allegedly failed to check cow slaughter and cattle smuggling. EXPRESS NETWORK BULANDSHAHR POLICE OFFICER SHUNTED OUT IN LATEST GOVT MOVE PAGE 4 “Whatever has happened in Bulandshahr on December 3 leading to the death of the Siana Station House Officer in mob lynching is highly deplorable. But the probe team should also include within its purview why no action was taken by the SHO in connection with the FIR lodgedregardingcowsmuggling at the Siana police station before the violence,” Agarwal said. “If cow slaughter has been declared by UP Chief Minister Yogi Adityanath as a serious crime, then we will have to look into the working of police stations, including Siana, over a broader time period. If we have to uproot the menace of cow slaughter, we will have to look at all aspects, down to the police station level,” Agrawal said. On Thursday, Bulandshahr MP Bhola Ram had raised CONTINUED ON PAGE 2 How One Woman Reached Out To 500, Raised An Agro Company PAGE 1 ANCHOR SHAJU PHILIP MALAPPURAM, DECEMBER 9 TILL ABOUT six years ago, Yasmin Arimbra was a school dropout who had never even been to a bank. Today, the 35year-old manages an agriculture produce company, helms a special school for differently abled children, and is pursuing a graduate degree. But then, Yasmin’s story of changeisnotabouther.It’sabout how she took 500 other women alongwithherinthisremarkable journey from conservative Thennala panchayat in Malappuram,aMuslim-majority district in north Kerala, to the TRACKING CHANGE» EVERY MONDAY For all Change stories, log on to www.indianexpress.com/change Witness Change? Write to us at email@example.com headlinesofthelocalnewspapers. Yasmin is now the managing director of Thennala Agro Producing Company, which has 374 women farmers as shareholders who are engaged in paddy cultivation as well as marketing the “Thennala’’ brand of rice. “Many criticised me, asking whether a woman should engage in such activities. I did not pay attention to these protests from orthodox elements in my community. Also, men from the villages under our panchayat scoffed at our paddy cultivation because they saw it as a lossmaking activity,” she says. These days, it’s not just the “men from the villages” that are applauding Yasmin and her band of women. Says James George, deputy general manager, National Bank for Agriculture and Rural Development (NABARD), Malappuram: “This achievement under the leadership of Yasmin is remarkable. From housewives, they have become farmers, entrepreneurs and decisionmakersof theircompany.” Yasmin traces the turning pointto2012,twoyearsaftershe became a member of Kerala’s Kudumbrashree Mission, an umbrella collective of women self-help groups working with the state government for em- Yasmin (right) with farmers in Thennala, Malappuram. Express powerment and poverty eradication. “In 2012, I was elected chairperson of the panchayat-level unit under Kudumbashree. At the time, it had 500 women as membersbutnonewasengaged in any productive activity. Besides, with most of the men employedintheMiddleEast,the region had vast tracts of uncultivatedpaddyfields,’’saysYasmin. “In early 2013, I took the women into the fields. Most of them were from BPL (below poverty line) families, and they were put into 126 clusters with each unit having four members. They were asked to take 1-3 acres of paddy field on lease fromownersforcultivation,”she says. “By2013,wehadmanagedto get 126 acres of land... that grew to 522 acres. The project was backed by the local office of the AgricultureDepartment,thedistrict office of NABARD and the Kudumbashreedistrictmission,” says P Sarojini, another shareholder in the company. In September 2015, Yasmin and her associates floated Thennala Agro Producing Company. “When raw paddy was being procured by private rice mills at rock-bottom prices, we thought why can’t we process the paddy into rice and sell in the market,’’ says Yasmin. The company subsequently raised Rs 4.5 lakh with the face value of each share pegged at Rs 1,000. The Kudumbashree Mission chipped in with Rs 10 lakh, NABARD put in Rs 9 lakh over three years. And women farmers were made the members of the board of directors. “Farming, running the company... it was a new experience. We grew along with the company. Like Yasmin, I was a school dropout but I got training from the Cochin University of Science and Technology (CUSAT) on management skills,’’ says Sarojini,aformerboardmember. This change is visible out in the fields, too — and in many other lives. Company records show that in the latest harvest season, Thennala Agro Producing Company paid Rs 24 lakh to 500 women farmers for the cost of paddy. “I joined the equivalent of Class 10 under the state literacy mission and cleared the exam. I have since cleared the Class 12 examandjoinedadegreecourse in Sociology under a continuing education programme,” says Yasmin. “Earlier, I was just a housewife. But farming has changed my life. We were reluctant to come out into the public sphere. Now,wehavegainedconfidence as there is financial independence and interaction with various people. All the jobs in the company are done by its members,’’ says Hajira Syed, who cultivates25acreswithsevenother women. Says Hemalatha C K, Kudumbashree district co-ordinator: “When Yasmin became CONTINUED ON PAGE 2
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