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<ul><li>Shares of Vodafone Idea have spiked nearly 18% in the last two days on hopes of a bailout from the government.</li><li>There were three demands made by the company’s billionaire promoter Kumar Mangalam Birla.</li><li>According to experts, the most viable option at this stage is to put a floor price on tariff, one that would apply to all three major players including Bharti Airtel and Reliance Jio.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>Vodafone Idea and its management have been sending out SOS to the government. The market seems to believe that a rescue package may be coming after promoter Kumar Mangalam Birla has written to the Prime Minister Narendra Modi and met the newly-appointed Minister for Communications, Ashwani Vaishnaw. The shares of Vodafone Idea surged over 10% on September 2 and another 7% yet again today (Sept. 3). The most viable option, according to experts, at this stage, is to have a floor price for telecom services for all operators including Bharti Airtel and Reliance Jio. Floor price refers to a minimum price for voice and data services, which means telecom operators will not be able to offer rates lower than the floor price. <div type="image" title="Vodafone Idea 01_04_21 to 03_09_21." msid="85890408" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone Idea share price over the last two months&amp;lt;/p&amp;gt;"></div> The market seems to believe that Vodafone Idea may be rescued but experts believe it may be easier said than done. There were 3 demands from Birla, in his letter to the Prime Minister dated June 7: to reduce the payment of regulatory dues after the Supreme Court allowed the recalculation of revenue in earlier years (also called adjusted gross revenue or AGR), to defer payment for spectrum licences, and to set a minimum level of tariffs for mobile phone operators. Sanjay Kapoor, the former chief executive officer of Bharti Airtel, believes if Vodafone Idea gets any of these measures as a bail out, others, including Reliance Jio, will also demand the same and it will only be fair. <div type="Video" msid="85894226" hostid="261" title="How to read Kumar Mangalam Birla’s letter to the government" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85894226"></div> “I think it will be parochial to read Mr. Birla's letter as wanting to sell his stake. I think it is metaphoric and symbolic in nature,” Kapoor said, explaining that Birla underlined his concerns with the Indian telecom industry slipping back to a duopoly, and that his company and Vodafone Plc., haven’t been able to generate returns out of their multi-billion dollar investment in the telco. On the other hand, R Chandrashekhar, former secretary, Telecom and information technology (IT), told Business Insider that not all of these requests are viable. Like Kapoor, Chandrashekhar also said that the moratorium on spectrum payments would require changing the terms agreed to by the operators, and offering support only to one telco is impossible. The government may find it difficult to let go of revenue, especially from for-profit private companies, at a time when the pandemic has stretched its finances. In the case of AGR dues, the Supreme Court order leaves no room for the government to make exceptions even for a company like Vodafone Idea that seems to be bleeding to death, fast. <div type="Video" msid="85209717" hostid="261" title="What if Vodafone Idea dies and can it be saved?" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85209717"></div> That leaves us with a floor pricing regime that will define the minimum cost of service that operators can charge. This is a request that Telecom Regulatory Authority of India (TRAI) had earlier rejected but, according to reports, the proposal is back on the table for the Department of Telecom to consider. The government, too, finds itself between a rock and a hard place. It can’t be seen as saving a private company owned by a billionaire like Birla, with an estimated net worth of $14.3 billion as per Forbes, in partnership with a multinational giant like Vodafone. It may be a tough call to offer sops to other billionaires like Mukesh Ambani (net worth estimated at $90.2 billion by Forbes and Sunil Bharti Mittal (estimated net worth $12.9 billion), in a bid to provide relief to Birla’s firm. But letting Vodafone Idea die will turn Indian telecom into a duopoly, or a two player market, which may lead to an unpopular rise in the cost of services at a time when the government wants internet and digital technologies to be more widely accessible and adopted by people at large. As Chandrashekhar put it, “it's a difficult problem at the outset, but the solution requires not only a brilliant plan or a design, but it requires a taker”. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/what-if-vodafone-idea-dies/articleshow/85127937.cms">What if Vodafone Idea dies?</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-shares-spike-after-promoter-kumar-mangalam-birlas-meeting-with-indias-telecom-minister/articleshow/85861279.cms">Vodafone Idea shares spike after promoter Kumar Mangalam Birla's meeting with India's Telecom minister</a>

Market hopes Vodafone Idea will be saved and these are the rescue options

<ul><li>Besides <keyword id="1860700" type="PERSON" weightage="20" keywordseo="SRS-Real-Infrastructure">SRS Real infrastructure</keyword> and <keyword id="1643113" type="COMPANY" weightage="20" keywordseo="SRS-Real-Estate-Ltd">SRS Real Estate Ltd</keyword> which are into development of malls, commercial spaces etc, the agency has also booked the company's group chairman Anil Jindal and directors Rajesh Singla, Nanak Chand Tayal, Bishan Bansal, Vinod Jindal and Jitender Kumar. </li><li>The searches were conducted at the premises of the company and its directors in Delhi, Faridabad and Bengaluru </li><li>The agency acted on a complaint from <keyword id="6357132" type="COMPANY" weightage="20" keywordseo="Canara-Bank">Canara Bank</keyword> which had done a forensic audit of the companies' accounts showing massive diversion of fund, with over Rs 89 crore of funds parked in the Republic of Congo. </li></ul> The CBI on Thursday carried out searches at 19 premises in Delhi-NCR and Bengaluru after registering an FIR against two firms of Faridabad-based <keyword id="9590027" type="COMPANY" weightage="20" keywordseo="srs-group-of-companies">SRS Group of Companies</keyword> and its directors for allegedly defrauding Canara Bank to the tune of Rs 135 crore, officials said. Besides SRS Real infrastructure and SRS <keyword id="1595046" type="DOMAIN" weightage="20" keywordseo="Real-Estate-Ltd">Real Estate Ltd</keyword> which are into development of malls, commercial spaces etc, the agency has also booked the company's group chairman Anil Jindal and directors Rajesh Singla, Nanak Chand Tayal, Bishan Bansal, Vinod Jindal and Jitender Kumar, they said. "It was alleged that the said borrower group of companies had availed term loans from the bank. It was further alleged that the borrower defrauded the bank and diverted the funds by not routing the proceeds of sale/booking of the flats through accounts maintained with the bank," CBI spokesperson R K Gaur said here. The searches were conducted at the premises of the company and its directors in Delhi, Faridabad and Bengaluru, they said. The agency acted on a complaint from Canara Bank which had done a forensic audit of the companies' accounts showing massive diversion of fund, with over Rs 89 crore of funds parked in the Republic of Congo. "There were massive diversion of funds, and unkept promises, the company and promoters dragged into courts, besides investigation by Economic Offence wing, etc," the bank alleged in its complaint which is now part of the FIR. "The group appears to have not only not paid the banks, but also a slew of operational and financial creditors, as well as many home buyers who have reportedly paid large sums to the developers which have been diverted by the promoters to various other ventures in India and abroad," it said. The FIR said that the balance with scheduled banks in current account of SRS Real Infrastructure zoomed to Rs 95.23 crores by March 31, 2017, from mere Rs.5.64 crores the previous year. "The net increase in the current account balance in the bank is Rs 89.51 crores, out of which Rs 89.50 crores is only due to amount received and held for specific project to be executed in the Republic of Congo (Central Africa). To this extent, there is a diversion of funds," it said. Both the companies, booked by the CBI, are of SRS group of Companies with same promoters and thereafter common guarantors in both the accounts, the bank alleged. Their accounts were classified as NPA on June 6, 2016. SEE ALSO: <a href="https://www.businessinsider.in/education/news/in-india-schools-cant-conduct-online-classes-for-more-than-90-minutes-for-class-1-to-8-and-other-guidelines-to-follow/articleshow/76976329.cms">In India, schools can’t conduct online classes for more than 90 minutes for class 1 to 8 — and other guidelines to follow</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-vs-tcs-vs-wipro-comparison-of-share-price-and-earnings/articleshow/76996578.cms">Infosys shares are on fire because it beat TCS and Wipro⁠— and gave a soothing guidance</a> <a href="https://www.businessinsider.in/science/health/news/the-world-cant-wait-for-good-news-from-oxford-serum-institute-and-astrazeneca-but-that-is-only-the-first-step/articleshow/76996301.cms">The world can’t wait for good news from Oxford, Serum Institute and AstraZeneca ⁠— but that is only the first step</a>

CBI searches 19 premises of real estate firm SRS Group, its directors in bank fraud case

The <keyword id="6366797" type="CITY" weightage="20" keywordseo="Delhi-Metro">Delhi Metro</keyword>'s non-executive staff today threatened to bring train services to a halt from Monday if their demands, including a pay hike, were not met, according to <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword> news report.The non-executive staff, including train operators, maintenance staff, station controllers and customer relation assistants, have been protesting since yesterday against the management's alleged failure in implementing a two-year-old decision to upgrade their pay scales."We will gather at the <keyword id="6562135" type="COMPANY" weightage="20" keywordseo="Yamuna-Bank">Yamuna Bank</keyword> station on Sunday evening. Thereafter, from 0000 hours of July 24, the protesting staff of around 9,000 will enforce a total shutdown," secretary of staff council Anil Kumar <keyword id="52339" type="PERSON" weightage="20" keywordseo="Mahato">Mahato</keyword> said.Delhi Metro had in 2015 agreed, "in principle", to upgrade pay scale of maintainers from Rs 8,000-14,410 to Rs 10,170-Rs 18,700 from July of that year. It was also decided to merge the pay scales Rs 13,500-Rs 25,520 and Rs 14,000-Rs 26,950.A new pay scale of Rs 20,600-Rs 46,500 was to be introduced, according to the agreement, which was decided upon following a similar employee stir, Mahato said."Since the recommendations of the 3rd pay commission have been accepted by the government and orders are to be issued any time, it is not an opportune moment to press for their demand for revision of pay scales at this juncture. All pay related issues shall be dealt shortly after issue of orders by the government," the <keyword id="45312" type="ORGANIZATION" weightage="20" keywordseo="DMRC">DMRC</keyword> management responded.The other demands of the agitating staffers include the right to form an union, suspension of disciplinary proceedings against three staff members, including Mahato and a <keyword id="6354572" type="ORGANIZATION" weightage="20" keywordseo="CBI">CBI</keyword> probe into alleged financial irregularities in the organisation.Delhi Metro, in a statement, said that issues are purely incidental to the individuals and the attempt on their part to push their personal agenda, and invoke others to cause disruption is uncalled for."The employees have been misled by these individuals and an appeal has been issued for all employees to stay calm and we hope that employees are not misguided by such elements. Staff council members are also called for discussion on these issues," it added. Since yesterday, the protesting staff, wearing black bands, are gathering at metro stations across Delhi-NCR and sloganeering against the management in between their shifts. As of now, there has been no disruption in metro services.

Travelling by Delhi metro this Monday? You need to be cautious

New Delhi, The <keyword id="6354977" type="COMPANY" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> on Friday issued a notice to the Centre and Twitter on a plea seeking a mechanism to check content on Twitter spreading hatred through <keyword id="2479020" type="PERSON" weightage="20" keywordseo="Fake-news">fake news</keyword> and instigative content through <keyword id="5009640" type="PERSON" weightage="20" keywordseo="bogus-accounts">bogus accounts</keyword>. A bench headed by Chief <keyword id="6357043" type="ORGANIZATION" weightage="20" keywordseo="justice">Justice</keyword> S.A. Bobde issued the notice on a plea by BJP leader Vinit Goenka seeking a mechanism to check content on Twitter spreading hatred through fake news and instigative content through bogus accounts. The top court tagged the matter with similar pending petitions seeking social media regulation. The plea, filed through advocate Ashwani Kumar Dubey, argued that presently total number of Twitter handles in India are around 35 million and total number of Facebook accounts are 350 million and experts says that around 10 per cent Twitter handles (3.5 million) and 10 per cent Facebook accounts (35 million) are duplicate/bogus/fake. The petitioner argued that these fake Twitters handles and bogus Facebook accounts, have been created, in the name of eminent people and high dignitaries including the <keyword id="2540" type="POSITION" weightage="20" keywordseo="President">President</keyword> of India, Vice President of India, Prime Minister of India, Chief Ministers, <keyword id="68811" type="COMPANY" weightage="20" keywordseo="Cabinet-ministers">Cabinet Ministers</keyword>, Chief Justice of India and the judges of the Supreme Court and High Courts. Goenka said that these fake Twitter handles and Facebook accounts use real photos of constitutional authorities and eminent citizens. As a result, the common man relies upon the messages published from these Twitter handles and Facebook accounts. The petitioner insisted that fake news is the root cause of many riots, including the one in Delhi earlier this year. Moreover, bogus accounts are used to promote communalism, which is a threat to the unity of the country. The plea argued that political parties use fake social media accounts to tarnish the image of opponents during elections, and also self-promotion. The plea sought the apex court to issue direction to the Centre, Ministry of Information &amp; Broadcasting, Ministry of Law &amp; Justice, and <keyword id="749437" type="COMPANY" weightage="20" keywordseo="Twitter-India">Twitter India</keyword> to make a mechanism against the social media accounts in order to stop the hatred, fake, instigative and other news which are contrary to the law of the country or violates the law of the country. The plea also sought directions to make a law to initiate action against Twitter and their representatives in India for wilfully abetting and promoting anti India tweets and penalising them. The petitioner cited that the <keyword id="69522" type="COMPANY" weightage="20" keywordseo="ministry-of-home-affairs">Ministry of Home Affairs</keyword> has banned Sikhs for Justice (SFJ) under the Unlawful Activities and Prevention Act on July 10, 2019, yet this banned organisation continues to have an active presence on Twitter promoting its agenda. The petitioner argued despite sending a representation to the authority concerned no action has been taken against social media giant Twitter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/defense/news/experts-say-india-and-china-both-need-to-show-their-voters-that-they-won-in-ladakh-for-the-disengagement-to-be-successful/articleshow/80876036.cms">Experts say India and China both need to show their voters that they won in Ladakh⁠ for the disengagement to be successful</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/why-grofers-may-allow-an-american-blank-cheque-firm-to-buy-it-out-instead-of-fighting-ambani-and-bigbasket-for-ipo/articleshow/80874979.cms">Here’s why Grofers may allow an American “blank cheque” firm to buy it out instead of fighting Ambani and BigBasket for IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/spicejet-and-indigo-stocks-take-off-as-a-2-hour-flight-could-now-cost-up-to-13000/articleshow/80873865.cms">SpiceJet and IndiGo stocks take off as a 2-hour flight could now cost up to ₹13,000</a>

Supreme Court tells Indian government and Twitter to find a way to curb hate speech online and shut down fake accounts

<keyword id="6398539" type="PERSON" weightage="100" keywordseo="Chhota-Rajan">Chhota Rajan</keyword>, the Indian underworld gangster caught on 25th October by the Indonesian police in Bali, has hinted at connections that “some officers” in Mumbai Police have with the underworld kingpin Dawood Ibrahim. He also stated that he is not afraid of Ibrahim and would continue his fight against him. It is to be known that Rajan was once a close confidante of Dawood, who is wanted for his involvement in the 1993 Mumbai serial blasts case, in which more than 350 people lost their lives. 
 
Rajan, who was arrested in Bali, the popular tourist town of Indonesia, on his arrival from Australia on October 25, is expected to be produced before a court soon where the Indonesian police will submit details of the cases for which he is wanted in India. 
 
He is likely to be deported to India soon. "The entire process is likely to be completed in next two-three days," an Indian official had said yesterday. 
 
"The government can keep me anywhere - Delhi or Mumbai. But there should be no injustice done to me. All cases against me are false," Rajan, who is wanted in over 75 heinous crimes ranging from murder, extortion to smuggling and drug trafficking, told reporters when asked whether he was afraid of returning to Mumbai. 
 
"Mumbai police has been unjust to me. Delhi government taking note of that should do justice to me," he said. 
 
An Indian team has been working with its Indonesian counterparts to take over Rajan's custody. 
 
The Indian team, comprising officers from CBI, Mumbai and Delhi police, arrived here on Sunday and they came along with a detailed dossier on 55-year-old Rajan and his involvement in various crimes in India. 
 
The team for the first time questioned him yesterday in the presence of Indonesian police at the detention centre where he has been lodged for the last 10 days. 
 
First Secretary (consular) in the Indian Embassy in Jakarta, Sanjeev Kumar Agrawal, who met Rajan for nearly half an hour on Sunday, was also present when the Indian team examined Rajan. 
 
While being taken out of the detention centre, Rajan had said that Dawood is currently hiding in Pakistan under the direct patronage of ISI. 
 
"ISI chhupa rahi hai (ISI is hiding him)," he said. 
 
Mumbai Police has registered 20 murder cases against Rajan, four cases under the Terrorist and Disruptive Activities (Prevention) Act, one under Prevention of Terrorism Act and over 20 cases under the stringent Maharashtra Control of Organised Crime Act. Delhi Police has got six cases against him. 
 
Rajan, whose original name is Rajendra Sadashiv Nikhalje, was arrested in Bali on the basis of a Red Corner Notice from Interpol and following a tip off by Australian authorities to the police in Indonesia. 
 
In 2000, there was an attempt on Rajan's life when Dawood's men tracked him down to a hotel in Bangkok but he managed a dramatic escape. 
 
In the absence of an extradition treaty, the Indian authorities have already provided documents to their Indonesian counterparts about his Indian identity to facilitate his deportation. 
 
<a href="http://media.indiatimes.in/media/content/2015/Oct/rajan_261015-1_1445854226.jpg">Image Source</a>

Chhota Rajan says Pakistan’s ISI is hiding
Dawood!

<ul><li>This is the second instance of <keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword> family getting threats on the hospital landline number.</li><li><keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> currently has a Z-Plus security cover, provided by the Central government.</li><li>In 2013, a letter sent in the name of terror outfit Indian <keyword id="1336187" type="General" weightage="50" keywordseo="mujahidin" source="Orion">Mujahidin</keyword> was delivered to Ambani's Maker Chambers office. </li></ul> Calls received by a hospital run by the Reliance Foundation threatening to kill Mukesh Ambani and his family members were the latest of the threats received by the billionaire industrialist. Mumbai Police on Thursday arrested Rakesh Kumar Mishra (30) from Darbhanga in Bihar for allegedly making calls to Sir H N Reliance Foundation Hospital here in the last two days, threatening to blow up the hospital and kill Ambani, his wife Nita and sons Akash and Anant. The caller had also threatened to blow up Antilia, the famous south Mumbai residence of the Ambani family on Altamount Road in South Mumbai . According of the city police, this is the second instance of Ambani family getting threats on the hospital landline number. On August 15 this year, the hospital had received at least nine calls threatening the Reliance Industries chairman and his family members, said an official. <keyword id="15181308" type="General" weightage="50" keywordseo="bishnu-vidu-bhoumik" source="Orion">Bishnu Vidu Bhoumik</keyword> (56) was arrested in connection with the calls. In November 2021, Mumbai Police increased the security outside Antilia following a tip given by a taxi driver about a possible threat, but investigation found there was no such threat. But an incident involving threat to the Ambani family earlier that year made national headlines and shook the state government. On February 25, 2021, an explosive-laden SUV was found parked on Carmichael Road in South Mumbai, near the Ambani residence. Police recovered a printed threat note inside along with gelatin sticks. The note this was only a "trailer" and there would be assembled explosives next time instead of just loose sticks. <keyword id="10875173" type="General" weightage="50" keywordseo="mansukh-hiran" source="Orion">Mansukh Hiran</keyword>, a Thane-based businessman, told police the SUV had been stolen from his possession. But the matter took a grim turn when Hiran was found dead in a creek in Thane a few days later, and an Assistant Inspector of Mumbai crime branch, <keyword id="1006310" type="General" weightage="50" keywordseo="sachin-waze" source="Orion">Sachin Waze</keyword> was arrested for alleged involvement in parking the SUV near Antilia and also for Hiran's murder. The affair also led to Mumbai Police Commissioner <keyword id="8848108" type="General" weightage="50" keywordseo="param-bir" source="Orion">Param Bir</keyword> Singh being shunted out. An angry Singh then accused then home minister Anil Deshmukh of asking police to collect money from bars in Mumbai; Deshmukh subsequently resigned and the CBI registered a corruption case against him. Mukesh Ambani currently has a Z-Plus security cover, provided by the Central government. The Central Industrial Security Force provides security to his residence. In 2013, a letter sent in the name of terror outfit Indian Mujahidin was delivered to Ambani's Maker Chambers office in Nariman Point area. It threatened him for supporting then Gujarat Chief Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. Mukesh Ambani's younger brother and industrialist Anil Ambani was in news for reason related to security in 2009 when pebbles were discovered in the fuel tank of his chopper. It was suspected that it was a sabotage attempt. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/world-bank-downgrades-indias-economic-growth-forecast-to-6-5-for-fy23/articleshow/94684137.cms">World Bank downgrades India's economic growth forecast to 6.5% for FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-rolls-out-5g-plus-in-8-cities-promises-20-30x-higher-speeds/articleshow/94679793.cms">Airtel rolls out 5G Plus in 8 cities, promises 20-30x higher speeds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sensex-gains-156-points-led-by-metal-it-and-capital-goods-amid-foreign-capital-inflows/articleshow/94684483.cms">Sensex gains 156 points led by metal, IT and capital goods amid foreign capital inflows</a>

Ambani family has been target of threats over the years

<ul><li>A whistleblower, reportedly, within the company highlighted that <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword>’s legal representatives were bribing Indian officials.</li><li>The whistleblower named Amazon’s senior corporate counsel and New Delhi-based independent legal counsel in this matter.</li><li>The independent lawyer has now claimed that he never worked with Amazon directly, but with corporate law firm AZB Partners.</li><li>The questions are who paid the bribe, to whom and for what, and who is authorised to ask this question and who is accountable to answer it.</li></ul>Amazon has reportedly initiated an investigation against its legal representatives for allegedly bribing Indian government officials. The development came to light early last week, after a whistleblower, reportedly, at the ecommerce platform reported that few such representatives were funneling money paid by Amazon to bribe Indian officials. The said whistleblower had reportedly named Rahul Sundaram, senior corporate counsel at Amazon, and Vikas Chopra, an independent counsel based out of New Delhi, in his complaint. According to a report by The Morning Context, Sundaram has been <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-lawyers-allegedly-paid-bribes-to-indian-government-officials/articleshow/86360262.cms">sent on leave</a> while Amazon conducts an internal investigation. Chopra, on the other hand, has claimed that he never really worked with Amazon directly. Instead, he was hired by corporate law firm AZB &amp; Partners to handle Amazon-related legal work on its behalf. However, it’s still not clear on the sort of tasks Chopra was handling. That leaves us with a few questions: who paid the bribe, to whom and for what, and who is authorised to ask this question and who is accountable to answer it. Will this make matters worse for Amazon? The Indian government and several authorities — Competition Commission of India (CCI), Enforcement Directorate (ED) and others — have already been investigating Amazon’s ecommerce operation in India for alleged malpractices that hurt small retailers on its platform, and outside, as well as for allegedly flouting the country’s foriegn direct investment (FDI) policy. It’s well within the government’s right to take up cognisance of this matter based on media reports. Well, that’s what it did when the Reuters <a href="https://www.reuters.com/investigates/special-report/amazon-india-operation/">report</a> said that Amazon had been tip-toeing around India’s FDI policies and fudging numbers. <div type="image" title="The murky case of bribery, allegedly on behalf of Amazon, has many unanswered questions" msid="86633850" hostid="261"></div> “Any allegations of this kind of serious nature — unless backed up with concrete and verifiable evidence — may not be taken seriously. There are several forums where such allegations could be sent, besides CCI, who would be legitimately concerned with such investigations,” Dhanendra Kumar, first Chair of Competition Commission of India (CCI), told Business Insider. Indus Law’s founding partner Avimukt Dar noted that bribing Indian public servants is an offence under prevention of corruption act and should be investigated by Indian law enforcement. The government and authorities like the police, Anti Corruption Bureau (ACB), Central Bureau of Investigation (CBI) and ED can take up the matter based on media reports. This statement was not in relation to the ongoing Amazon issue. Business Insider has reached out to Amazon seeking details about their internal investigation. The article will be updated with their response, if any. Is Amazon aware of the alleged bribery? This is what we know so far. The New Delhi-based independent counsel Chopra sent a legal notice to the Morning Context, which <a href="https://themorningcontext.com/internet/delhi-lawyer-says-azb-partners-paid-him-for-amazon-work/?utm_source=daily_email&amp;utm_medium=email&amp;utm_campaign=TMC&amp;mc_cid=47dca011bf&amp;mc_eid=9c4b5da83b">first reported</a> the development. In the notice, he mentioned that his fee bills are raised to AZB &amp; Partners and not Amazon. Meaning, he was working in association with the said law firm and not Amazon directly. <div type="image" title="The murky case of bribery, allegedly on behalf of Amazon, has many unanswered questions" msid="86633874" hostid="261"></div> Business Insider reached out to Chopra seeking confirmation on the content of the legal notice as well as his comments on the issue. While he did not yet confirm the content of the said notice, he told Business Insider, “Matter is going before court and I don’t want to comment. But just would like to give one assurance that whosoever is pursuing this false and baseless news about me will have to face legal action and I will ensure that the legal action is taken to its logical conclusion so that person should understand that freedom of speech comes with reasonable restrictions. It’s very easy to take law into hands by publishing anything for vested interest. I know who all are behind these false news. God will take care. Thanks.” Business Insider has written to AZB Partners seeking comments and clarification. Separately, Dar noted that it is possible for a legal consultant — independent or firm — to funnel the payments for such practices, without the knowledge of the client involved. Generally, it is added as the fee paid to the consultant, as no one can really add this as an expense. “So the best way to see is if the same lawyer/law firm charged, let's say, ₹100 for a similar mandate last year and is now charging ₹1,000 — that should raise a red flag for the financial controller,” he added, without commenting on the specification in this particular matter related to Amazon. Is Amazon up to date with due diligence? The approach in such a matter should be that the client — whoever it may be — should suspend or send the person named in complaint on leave, Dar added. The company should also do an inquiry in such matters and suspend working with the said law firm until the inquiry clears them. So far, Amazon has followed such an approach by sending its senior corporate counsel on leave and by conducting the internal investigation. Notably, American companies like Amazon take such whistleblower complaints seriously as it is against the Foreign Corrupt Practices Act, or FCPA. The FCPA law in the US prohibits companies and individuals from paying bribes to foreign government officials in order to retain or obtain business. This is also a part of corporate governance rules for all public companies in the US. The question is whether any authority in India is going to ask the same question to those accountable to answer it. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-blue-dart-irctc-and-other-top-stocks-to-watch-out-for-on-september-30/slidelist/86633138.cms" data-type="tilCustomLink">Zee Entertainment, Blue Dart, IRCTC and other top stocks to watch out for on September 30</a> <a href="https://www.businessinsider.in/tech/news/linkedin-is-blocking-the-chinese-profiles-of-journalists-and-researchers-over-prohibited-content-not-approved-by-the-government/articleshow/86624742.cms" data-type="tilCustomLink">LinkedIn is blocking the Chinese profiles of journalists and researchers over 'prohibited content' not approved by the government</a> <a href="https://www.businessinsider.in/entertainment/news/britney-spears-conservatorship-could-finally-end-at-an-upcoming-hearing-in-november/articleshow/86632141.cms" data-type="tilCustomLink">Britney Spears' conservatorship could finally end at an upcoming hearing in November</a>

The murky case of bribery, allegedly on behalf of Amazon, has many unanswered questions

CBI court’s summon of the erstwhile Prime Minister, <keyword id="6359397" type="PERSON" weightage="60" keywordseo="Manmohan-Singh">Manmohan Singh</keyword> as an accused in the coal block allocation scam, popularly called Coalgate scam has been giving nightmares to the Congress party. The party president <keyword id="689" type="PERSON" weightage="60" keywordseo="Sonia-Gandhi">Sonia Gandhi</keyword> has left no stones unturned to understand the way outs for Singh in the case. 
 Sonia is learnt to be consulting <keyword id="30182" type="PERSON" weightage="60" keywordseo="Kapil-Sibal">Kapil Sibal</keyword>, former law minister Ashwani Kumar , Ghulam Nabi Azad and <keyword id="63771" type="PERSON" weightage="60" keywordseo="Mallikarjun-Kharge">Mallikarjun Kharge</keyword> among other legal minds of the country to challenge the court summons. 
 With Kapil Sibal and <keyword id="70470" type="UNKNOWN" weightage="80" keywordseo="KTS-Tulsi">KTS Tulsi</keyword> in defence, Manmohan Singh will appeal to the <keyword id="6354977" type="ORGANIZATION" weightage="60" keywordseo="Supreme-Court">Supreme Court</keyword> against the CBI summons. 
 
 Over 100 party leaders and MPs had joined Sonia in a ‘walk for support’ for Singh this morning in Central Delhi. 
 As reported by <keyword id="76338" type="CITY" weightage="80" keywordseo="Reuters">Reuters</keyword>, Sonia who rarely speaks in public off the campaign trail, rallied to Singh's cause in apparent recognition of his loyalty to her family. 
 
(Image: Reuters)

The curious case of Manmohan Singh

As the financial year comes to a close, we have some good news for the ‘aam aadmi’ of India. News reports suggest that your EMIs might shrink a little in the coming days as banks across the board are poised to lower lending rates as their hands are being forced by surplus liquidity and low credit demand. 
 According to the Economic Times report, the country's top banks are considering to lower their <keyword id="6371181" type="UNKNOWN" weightage="20" keywordseo="interest-rates">interest rates</keyword> to push credit demand. "With increased government spending, liquidity is likely to be abundant at the beginning of the new fiscal. This would lead to bank base rate cuts in April-June quarter," NS Venkatesh, IDBI Bank's executive director &amp; chief financial officer told the ET. 
 The lower interest rates won’t only benefit the common man of India but will also lure companies into taking loans. A senior official from the <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (SBI) told ET that many banks may start cutting rates in the first quarter to lure companies into taking loans. 
 
Apart from the IDBI and the SBI, other government and private banks are also considering rate cuts in the next fiscal. Dena Bank chairman &amp; managing director Ashwani Kumar also confirmed to ET that their lender's asset liability committee would take a decision on rates in April. 
 
So, why are banks considering a rate cut? Perhaps, they making this move because their credits grew just 10.2% year-on-year to Rs 65,24,300 crore as on March 6 while companies have reported a 32% growth over the preceding fiscal and raised Rs 3,56,382 crore in bonds this fiscal? 
 The <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> has kicked off a benign interest rate cycle by lowering repo rate 50 basis points in two separate phases since January 15, but lenders have so far refused to transmit the monetary policy action to protect margins ahead of the fiscal year-end as the impact of any deposit rate cut comes after a lag. 
 Kaushik Das, Deutsche Bank vice-president and economist, told ET that interest rate cuts have become an imperative for the banks. He said, "To the extent that <keyword id="22195" type="COMPANY" weightage="20" keywordseo="Inflation">inflation</keyword> is falling, real rates will rise this year unless policy rate cuts are matched by bank rates coming down. With the real <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">economy</keyword> showing only tentative signs of recovery, and credit growth anemic, it is critical for bank rates to decline, both in nominal and real terms." 
Image: indiatimes

You could be paying lower EMIs soon! RBI to ‘Aam Aadmi’s’ rescue

NEW DELHI: Dr Manmohan Singh’s legacy came under yet another round of intense attack with former <keyword id="6356851" type="CITY" weightage="100" keywordseo="CAG">CAG</keyword> Vinod Rai alleging that the former <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">prime minister</keyword> was aware of major scandals as they unfolded, refuting claims Singh was not fully aware of the machinations that resulted in humungous loss to the public exchequer and mauled the <keyword id="1575" type="ORGANIZATION" weightage="80" keywordseo="Congress">Congress</keyword> party’s electoral fortunes. 
 The former CAG’s revelations challenge the defence of Singh that the <keyword id="6446767" type="UNKNOWN" weightage="100" keywordseo="2G-scam">2G scam</keyword> was perpetuated by A Raja using the political necessity of Congress to humour DMK, thus fastening the mega swindle to the reformist PM. 
 
Rai, whose book “Not Just An Accountant” is set for release in the next few days, claimed that Dr Singh was alerted by his senior cabinet minister Kamal Nath about the brewing 2G scam. 
 
Adding credibility to Rai’s claim, Kamal Nath admitted that he had cautioned Dr Singh against 2G allocations. “I wrote to the Prime Minister that I am hearing all sorts of things are going on in 2G allocation. The PM chose to do nothing,” Nath told Times Now. The former commerce minister said he feels that had Dr Singh intervened “things would have been different for the Congress”. However, there was no point flogging a dead horse, said Nath even as he emphasized that “A Raja was prosecuted for what he did”, and that Rai should not resort to sensationalism to boost the sales of his book. 
 
 
 
The former CAG also claimed that he was under pressure to drop the name of the former civil aviation minister from the federal auditor’s report on the controversial purchase of aircraft for public carriers. He said the then minister, Praful Patel, had “nudged” the public carriers to go in for the large-scale purchase. 
 
“All hell broke loose when the draft report reached the ministry and bureaucrats of all hues tried to prompt the CAG to drop the word “nudge”. 
 
Patel denied the charge saying that he never met Rai. 
 Rai’s is only the latest book from those who have had a ringside view of Dr Singh’s prime ministership, and who later chose to record the unpleasant realities of the PMO under him and the <keyword id="26374" type="ORGANIZATION" weightage="80" keywordseo="UPA-government">UPA government</keyword>. Dr Singh’s former media advisor Sanjaya Baru, former external affairs minister K Natwar Singh and former coal secretary PC Parakh have all recorded the makings of many scandals that have marked the UPA decade, portraying the former PM as the leader who was not in control or unwilling to intervene. 
 Elaborating on what he had told TOI exclusively on August 24, Rai on Thursday told Time Now that he was approached by three Congress MPs – former <keyword id="6356398" type="POSITION" weightage="80" keywordseo="Law-Minister">Law minister</keyword> Ashwani Kumar who had to resign for allegedly pressuring the CBI to dilute PMO’s role in the Coalgate scam, <keyword id="56431" type="PERSON" weightage="100" keywordseo="Sanjay-Nirupam">Sanjay Nirupam</keyword> and Sandeep Dikshit – to drop the name of the Prime Minister from the CAG report on 2G spectrum allocation. 
 
 
Manmohan Singh’s legacy as PM came under yet another round of intense attack with former CAG Vinod Rai alleging that the former prime minister was aware of major scandals as they unfolded. 
 
“I mentioned in the book that after the PAC meeting on the 2G, Congress MPs did tell me that keep the PM out of this,” Rai said. 
 
Reacting to Rai’s claim, Sanjay Nirupam said the former CAG was lying. “I have never spoken to him,” Nirupam said. 
 
Rai said the irregularities in allocation of 2G licences date back to the tenure of Raja’s predecessor and his DMK colleague Dayanidhi Maran in the telecom ministry. “And we had evidence of the licence being given out at particular prices not only from Raja's time but before also from the previous minister who was also from the DMK. We found that there was a track record that the previous minister had started in a particular way and Raja followed that way. But Raja kept informing the PM what he was planning to do,” he said. 
 
Rai said then PM Manmohan Singh’s own cabinet colleagues were advising him against the licence allocation in arbitrary manner. “Like his own cabinet colleagues were saying that lets discuss this in a GoM. The finance ministry was also saying that lets bring it to a group of ministers. The law ministry had also advised him to do that. But somehow it did not take place,” he said. 
 
 
 
<keyword id="204796" type="ORGANIZATION" weightage="80" keywordseo="Former-Union">Former Union</keyword> minister Kamal Nath (L) has claimed that he had cautioned Manmohan Singh against 2G allocations and slammed the former PM's inaction over the issue. 
 
The former CAG said former PM had enough time to stop the allocations. “It could have been stopped because between this letter of 26th December and 10th of January when the LOIs were actually issued, there was a fortnight’s time,” he said. 
 
“The buck stops at the PM's desk in any parliamentary democracy. He is the CEO of the country. He can stop, or he can initiate, both. I have written in the book that he probably chose not to stop,” Rai said.

Manmohan Singh Knew Of 2G Scam As It Unfolded, Ex-CAG Vinod Rai Says

<ul><li>India's former telecom regulator Pradip Baijal has explained how India has had trouble managing its spectrum roll out for next-gen communications technology over the last few decades.</li><li>The latest in this telecom - 5G - is also facing similar hurdles in India, with the government yet to finalise guidelines and announce auction of airwaves.</li><li>He also explained how different use-cases of 5G are relevant and important to India - from the point of view of consumers as well as the industry.</li></ul>India always had problems in dealing with spectrum. We wasted valuable wireless spectrum for fixed line services in 1995, unlike any other country, after the erroneous decision that expensive mobile phones were not for the poor Indians. The decision was reversed in 2004, but led to a lot of inspired criticism by mobile incumbents. Earlier, the government approved a Convergence Bill in 2001, for more efficient use of spectrum, but was not approved. The government/regulator, therefore, approved a Unified Access License in 2004, reduction in interconnect charges and tariff forbearance. But, it took inefficiently long to bring in these changes (it had to be done in stages, by many regulatory efforts). Unified License reduced tariffs 50 times, but increased government revenues. Mobile numbers growth immediately increased 10 times, and gradually 200 times, three times ever the leader, China. 3G spectrum auctions were efficient later, though delayed, and showed the huge loss in 2G allocation and crony capitalism involved, the basis of the CAG report. The allocations led to litigation and differing and controversial judgments by the Supreme Court/CBI Court, the issue still remaining open, but this was one of the issues on which the UPA lost heavily to NDA, in the ultimate court of elections in 2014. 4G auctions were conducted efficiently, even though they were delayed, and now we have come to 5G auction issues, with an ET news item commenting, "India is set to miss the '5G bus' following the lack of preparedness, unavailability of sufficient spectrum, absence of encouraging use cases, and uncertainty around radio waves sale for the next generation of telecom services." This is despite India appointing A.J. Paulraj (winner of the Marconi Prize) Committee to give the recommendations to the steps required. They gave the report in mid-2018, and despite giving the schedule, we have not moved fast. In the past, Prime Minister Modi-led government maintained that it "won't afford to miss 5G bus" like in the case of 2G, 3G, and 4G technologies that were deployed in India way later than many countries, thus losing the many early user advantages. 5G and India Before we discuss, let us understand the nature of use of 5G. For a layman, 5G is just next generation wireless infrastructure which will provide them voice and data services. However, it will impact much more due to its bit-level intelligence characteristics. 5G will provide an array of network intelligence which will get translated into precise and demand-led resource allocation. 1G came in 1980s and provided basic voice services, 2G in 1990s and enabled voice and SMS services due to its digital standards, 3G came in 2000s and introduced data services along with voice and SMS that enabled multimedia services. 4G pure IP network, came in 2010s, and enabled the application services and partially merged the telecom and information technology which gave boom to platform services. The architecture of 5G is designed to handle the connection of billions of devices including industrial machines with seamlessness and reliable data transfer with much faster speed. 5G is not only about high speed boost but it is about the intelligence at the bit level and low latency which will make it the foundational tech for multiple new tech., including self-driven cars, AR &amp; VR, telemedicine, robotic surgery, powering future smart cities, IoT, m2m, AI and manufacturing. 5G will change the future war fighting too due to increased situational awareness to increase the command and control of the battlefield. Once these networks come, 2G and 3G networks can be abolished, like in other countries for better overall spectrum utilization. We have not started. Industrial revolutions and change It has been shown that industrial revolutions change the world. Hirschman had said that these revolutions occur every 70 years. This was proved in IR 1.0, 2.0 and 3.0. The US and the West's GDP went up five to six times in IR 1.0 &amp; 2.0, while India and China went down 10 times (colonial loot was also the reason). Growth reversal with IR 3.0 But IR 3.0 changed the world with the technology being on a connected net and with globalization, available to the Third World (right from the beginning). Of course, the US helped China a lot post 1980, in technology dispersal, and helping China with accelerated WTO membership in 2001. This led to China growing eight times and India 2.5 times in a few years. IR 4.0 and 5.0 The world is now moving to the fourth and the fifth industrial revolutions in quick succession. Providentially, these revolutions are also happening on the same wire or wireless lines as in IR 3.0, and we have bright Indian minds working in the digital sector like Nadella, Pichai, Arvind Kuar, Banga, Tata, Kohli, Nilekani, Narayana Murthy, Patni, Soota, Premji, and millions of others located in Silicon Valleys around the world. The most exciting additions to the list are Mukesh Ambani, Sunil Mittal and Kumar Mangalam Birla. They have kept the mobile sector alive despite crony capitalism, and given the appropriate ambience, should do very well now. Through them, and despite Covid, the world has shown confidence in the Indian economy. China should do well because of enormous investment, past technology thefts, uninhibited US support till 2015, and R&amp;D. The fifth IR will happen with IT getting connected to human minds (AI and beyond). IR 5.0 having reached the human mind, perhaps cannot move beyond, and the 6th IR has to be in another area, maybe the planets, as visualized by Jeff Bezos. Again, India is well-placed. Creating an appropriate environment is the key. Role of private sector It may also be recalled that the 2G rollout had created strong private sector companies and from 10 per cent private network, it had gone to 80 per cent (though the public sector had grown too). Later, despite crony capitalism, they had survived, and are today, India's main hope to take us forward. With 5G networks being more powerful, they will surely impact GDP growth much more than the earlier generation networks and move the country towards Namo's $5 trillion economy in 2024. Fiscal pressure on the government - we can ill-afford to ignore: We are today also hit by Covid, huge bank NPAs, financial crisis, fiscal deficits and fall in investments. 5G rollout is an opportunity for huge network (and downstream) investments by existing private sector companies and their networks all over the country, without putting any fiscal deficit pressure on the government. I had, therefore, anticipated in my China book and articles, that the present is 'providence' for India, like it was 'providence' for China in the 80s with an imaginary 'cold war'. Pricing issues A word about pricing here - our entire 2G revolution came after tariff forbearance, and liberal availability, connectivity and regulatory reforms. Obviously, once 5G revolutions get moving, the disruptions would be higher. Indian economy/GDP did well during IR 3.0, its DNA being more IT-centric, demonstrated by high growth in these sectors during some periods of IR 3.0, when regulations were right (2004 to 2010), particularly vis-a-vis China, and also the Indian minds being more IT-centric, demonstrated by the success of IT (software) and mobile revolutions. World digital economy In 2019, the world celebrated the first full year when more than half of the world (51.2 per cent, or 3.9 billion people) had begun to participate in the global digital economy by logging onto the internet, from almost zero a couple of years back. The world is turning fully digital, and networks converging very fast. China has touched 840 million subscriber base and will be 1 billion at the end of 2020, with superior speed, whereas India has only touched 600 million broadband subscribers. The world will thus transform itself to a form that during IR 4.0 and 5.0 the versatile 4 and 5G networks will be more valuable than all other infrastructure, like roads, rail and air transportation systems etc. Looking at the future, China has created companies which are leading in 5G, AI, quantum computing and other digital products and shaping up the digital behaviour of the people because they are deploying networks faster and learning by doing it. China is also leading in the standardization and patents of the digital ecosystem, manufacture of equipment etc. In contrast, the Indian 5G process is yet to commence (allocation of spectrum and installation of 5G equipment), though we have done extremely well despite late start in the past. India can grow in IR 4.0 given its human capital pool, the start in the use of algorithm prowess and an established IT hub, only if we install 4G and 5G systems adequately. But expensive and presently unviable (for India, since IR 4.0 and 5.0 industries and services have not started) 5G systems are likely to come in slow. Also, the spectrum and equipment prices are anticipated to be high. Unless both spectrum and equipment prices are low and heavily backloaded, I do not see India coming out of the jigsaw puzzle, and not falling back severely in the digital war. And if we miss India's turnaround moment, India's vast market and trained manpower will be used by advanced countries to develop 5G / IR4.0 and 5.0 networks fast. The Paulraj Committee recommended that 5G will mature between 2019 and 2024. India should take lead and become an innovator in 5G applications. (Pradip Baijal is former Secretary, Disinvestment and former Chairman, TRAI. This article is in continuation of his book, Containing the China Onslaught, published by Quadrant, and available on amazon.in and walmart, and further to a review of China's growth in Defensive Offence) <div type="Youtube" id="gFmRP3whXmU" title="Pradip Baijal Explains History of China's Economic Rise." thumbUrl="https://i.ytimg.com/vi/gFmRP3whXmU/mqdefault.jpg"></div>

India's former telecom regulator shows how much India is lagging behind in the 5G pursuit

Reality is the most coveted theme in Bollywood right now. From churning out biopics to drawing inspiration from real-life incidents, movies are riding the ‘reality’ wave in a bid to rake in big moolah. Although it is not a box office hit, the recently released Gulaab Gang, starring Madhuri Dixit Nene and Juhi Chawla, is said to be inspired by Sampat Pal Devi and her Gulabi Gang, a group of Indian women vigilantes and activists. Another biopic based on Olympic medallist Mary Kom is coming up soon and promises to make waves. But before that, let us take a look at some of the most popular movies inspired by real life. 
 
1. Bhaag Milkha Bhaag One of the biggest hits of 2013 starring <keyword id="5015" type="PERSON" weightage="40" keywordseo="Farhan-Akhtar">Farhan Akhtar</keyword>, this is a biopic of Milkha Singh, the Flying Sikh of India. The flick goes beyond the obvious and highlights the lesser-known facts of the legendary athlete’s life, thus introducing the Indian sports hero to the Gen Y. Farhan is spectacular in his role while Milkha Singh has sold the rights of the movie for Re 1. However, a share of the profits goes to <keyword id="1937557" type="UNKNOWN" weightage="40" keywordseo="Milkha-Singh-Charitable-Trust">Milkha Singh Charitable Trust</keyword>. 
 
2. The Attacks of 26/11 
Directed by Ram Gopal Varma, this docudrama is based on the gory Mumbai attacks of 2008. The movie focuses on the series of events that took place on this fateful day. The movie revolves around the terrorist attacks and Ajmal Kasab, the prime radical, who was caught. RGV relies on police statements, eyewitnesses and the court evidence to bring in a pretty close presentation of reality. 
 
3. Once Upon a Time in Mumbai Dobaara 
A sequel to 2010’s Once Upon a Time in Mumbai, the movie is inspired by the animosity between gangsters Dawood Ibrahim and Chota Rajan. Despite a lot of hype, this gangster saga turned out to be a flop. Akshay Kumar, <keyword id="14676" type="PERSON" weightage="40" keywordseo="Imran-Khan">Imran Khan</keyword> and Sonakshi Sinha played lead roles in the film. 
 
4. The Dirty Picture 
Starring Vidya Balan, this one is a biopic of the southern sex siren, Silk Smitha, and offers a heavy dose of entertainment. Vidya has done an admirable job here and played a perfect seductress. She did her best to get into the skin of the character, which also required her to put on oodles of flab. 
 
5. Special 26 Starring Akshay Kumar and Anupam Kher, this film was inspired by a real life incident that took place in Mumbai’s Zaveri Bazaar in 1987. In the movie, a group on conmen posing as CBI officers executes a daylight income tax raid. The film also stars <keyword id="7637" type="PERSON" weightage="40" keywordseo="Manoj-Bajpayee">Manoj Bajpayee</keyword> and Jimmy Shergill, and has won plenty of critical acclaim. 
 
6. Paan Singh Tomar 
Another gem of a movie starring Irrfan Khan. This is a biopic of an athlete, Paan Singh Tomar, who was employed with the Indian Armed Forces. The film weaves the real life incidents that forced Paan Singh to quit the defence services and his dream of becoming an internationally acclaimed athlete, and take to guns instead. 
 
7. Satyagraha – Democracy Under Fire A political thriller starring Amitabh Bachchan, Ajay Devgn and Kareena Kapoor, this flick is loosely based on <keyword id="57766" type="PERSON" weightage="40" keywordseo="Anna-Hazare">Anna Hazare</keyword>’s fight against corruption. While Big B plays the role of Anna, Kareena’s character is inspired by the international journalist, Christian Amanpour. 
 
8. No One Killed Jessica This political crime thriller is a screen adaptation of the much publicised <keyword id="14009" type="PERSON" weightage="40" keywordseo="Jessica-Lal">Jessica Lal</keyword> murder case. While Vidya Balan plays Jessica’s elder sister, Rani Mukherjee is the spunky news reporter. The film has been widely appreciated for making the point quite poignantly and has bagged many prestigious awards. 
 
9. Not a Love Story 
This film starring Mahie Gill and Deepak Dobriyal is based on the ghastly murder of Neeraj Grover that led to the arrest of Maria Susairaj and M.L. Jerome. Director Ram Gopal Varma shot the movie in just 20 days at Dheeraj Solitaire building, which is the prime location of the incident. 
 
10. Guru 
It has not been stated officially but Guru, starring Abhishek Bachchan and Aishwarya Rai, takes inspiration from the life and times of India’s celebrated business tycoon, <keyword id="6418409" type="PERSON" weightage="40" keywordseo="Dhirubhai-Ambani">Dhirubhai Ambani</keyword>. It portrays the journey of an ordinary man growing up to become one of the most powerful businessmen, with absolute faith in his dreams. 
 
Image: Indiatimes

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