Will the legitimately rich be left alone?

For the past few weeks, there has been a lot of news being made about Mukesh Ambani's new abode, Antilia. And as are many things associated with the Reliance Group, Antilia too has been amongst controversies, right from the beginning. First, was the controversy about the land itself. Accusations flew past the entire city, about how it was illegally transferred to Mukesh Ambani by the Waqf board. Once that died, newspapers have been writing realms of articles about how this mansion/building is a a shameless show-off by the country's super rich and how it utterly disregards the poverty that surrounds them, etc. Then, we find comparison between Ratan Tata and Mukesh Ambani. We are told how Tata still prefers to live in his small flat in an apartment in Colaba, while Ambani is splurging more than a billion dollars for his residence. But, no one tells us that Tata owns more than 10 cars, ranging from the humble Indigo to the super luxurious Jaguar.

A similar protest was once organised when diamond mughal Bharat Shah had organised his daughter's wedding at the Wankhede stadium in Mumbai. The protestors accused the diamond industry of being insensitive to the financial condition of those around them and spend lavishly while people were dying of hunger. The diamond industry shot back, saying that they employ a lot many people and generate a lot more wealth than those who were protesting outside the Wankhede. Similar things can be said about Ambani and Reliance Industries too. Various arms of the Reliance Industries have been generating thousands of direct and lakhs of indirect jobs in the country. And Mukesh Ambani's income and Reliance Industries' profits are there with SEBI to be inspected by anybody to be seen. So, why this hue and cry when Ambani decides to spend the money for his abode?

He and his family have legitimately earned that money, it is their right to spend it in a manner deemed fit by them. Atleast, they are not like the politicians, whose assets double or quadruple within one five-year term of the Parliament or legislative assembly. We never see newspapers raise such comments about them. How much legitimate employment do these politicians generate?

Perhaps our aversion to such opulence comes from our socialist conditioning for the past sixty odd years. When, the rich were regarded with disdain. Those who amass fortunes only by cheating and exploiting the poor. Recall the movies of the sixties and seventies, when the rich landlord or money-lender used to exploit the poor hero or heroine. The rich could never do anything good, they were always exploiters. And they always disregarded anything that had to do with the poor. Such movies were a hit amongst the people, who could see the poor hero rise to the occasion and either finish of the rich villain or cause a change in his heart and prod him into donating his wealth for the cause of the poor.

The CEOs or owners of listed companies have a major portion of their income legitimately recorded as per the rules of the government. Many of them are legitimately rich. They have the right to spend their money as per their wishes, till the point it is in accordance with the laws of the country. Why should they be forced to take a moral stand? When Antilia was being constructed it provided employment to thousands of labourers, architects construction engineers and ofcourse, all those reporters who were busy writing against it. And even after it is occupied, it will continue providing employment in terms of various goods and services that it will be consuming. If there is poverty around us, it is the society's failure and the failure of the government, whom we have elected to rule us. It is the government's role to look after the welfare of it populace. The rich in the society too should play their role, but then they cannot be the primary drivers of poverty eradication. Let us leave them alone and ask the government, what can be done to minimise the deep wealth rift between the two sections of the society.

Anil Ambani, fight your own war

People fond of the limelight can never stay away from it. Anil Ambani was always Reliance's media man. He is very comfortable with the media and for very long, people didn't know how Mukesh looks like. All the while, Mukesh stayed back in the field quietly building the Reliance businesses. Of course, Anil too contributed, otherwise Dhirubhai would have booted him out. But Anil was very comfortable and fond of the limelight.

Even during the split of the Reliance empire in 2005, it was Anil who was ranting off statements in the media, while Mukesh kept silent all through out. Of course, it was a casual statement by Mukesh that triggered the entire chain of events. Even now, both Mukesh's and Anil's companies are taking pot-shots at each other. Things like blocking Reliance Communications' MTN bid, or Anil's infrastructure company disputing the allotment of the Sewri-Navi Mumbai sea link have been happening. At the receiving end has been the customer, the shareholder and in some cases, the general public. But while Mukesh's companies have stuck to legal arguments, Anil, the lime-light seeker has tried all weapons in his armour. He has used emotional arguments, allegations, and now, he has begun to play with public emotions. Check the latest series of advertisements that his company is issuing in newspapers, albeit on behalf of its shareholders. Well, the largest of all shareholders happens to be Anil himself. The company is trying to do a Ram Jethmalani on the Government of India. During the Bofors' scandal, Ram Jethmalani sent a similar series of questions, published through newspapers, that he wanted the government to answer. But, while Ram Jethmalani didn't have any business interests, ADAG certainly stands to benefit if the government forces RIL to change its decision.

While the advertisement shown here doesn't mention NTPC directly, tDAG is definitely using it for its purpose. That is because like ADAG, RIL is charging higher gas prices to NTPC too. The question is formulated to strike an emotional appeal with the readers. Who would want a higher power tariff? Readers are bound to react against RIL. But, why is ADAG using NTPC as a proxy to fight its war? Like Arjun used Shikhandi to defeat Bhishma in the Mahabharat war. But, ADAG is not Arjun, neither is NTPC Shikhandi, nor is RIL like Bhishma.

But here is another side of the coin, which might not see the light of the day, given the poor circulation of my blog. If gas prices had fallen to below $2.5 per mmBTU, which was promised to ADAG and NTPC, Anil would again have cried the same way, asking prices to be lowered and brought in sync with the global prices. At that time, RIL would have fought to maintain the sanctity of the contract. Then too, ADAG would have come out with advertisements, asking people to vote in national interest. Then Anil would have said that family MoU should not come in the way of national interest. All arguments that ADAG is making can be turned around to suit their interests if gas prices fall below $2.5. To sum it up, this isn't a case of national interest at all. If ADAG were to import the gas, they would pay the price that was asked for. It all boils down to economics and profits that companies stand to lose or gain depending on the pricing of the gas. The common man is again a pawn in the hands of the power-players.

But Anil can surely be man enough to fight his war, not relying on NTPC, which along with profits also has social objectives, because of it being a PSU. Nor should he play with human emotions and manipulate them to get them on his side.