Jassi Jaissi Koi Nahin General Discussion

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Jassi Jaissi Koi Nahin General Discussion
Jassi Jaissi Koi Nahin General Discussion

Balance Sheets (Page 2)

jprasad IF-Rockerz
jprasad
jprasad

Joined: 27 October 2004
Posts: 6974

Posted: 17 February 2005 at 11:36pm | IP Logged
Wink   I was just kidding.

pj04 Goldie
pj04
pj04

Joined: 02 September 2004
Posts: 1623

Posted: 18 February 2005 at 9:27am | IP Logged

Originally posted by queenbee

pj04...... I agree with all the bits here but as for saying that armaan is the most imcompetent of the lot... did u know that mukesh ambani LIED about being an MBA from Stanford? this was a Tehelka expose... but since when has his qualification or lack of it made him an incompetent businessperson Confused Even Reliance, for all its reputation and making-shareholders-laugh-all-the-way-to-the-bank philosoph ies and grandiose future plans is still DEBATING on introducing the concept of corporate governance... what does that say about the ethics and management principles of India's largest business house and possibly others? Mukesh Ambani has also been in the news for favoring or at least, seeming to favor certain parties who stand to benefit from several under-the-table transactions, floating fake investment companies for personal gain, etc etc. Yet a poll conducted of several members of the stockbroking community showed them backing Mukesh Ambani by a whopping majority - like u say, he is still seen as a trustworthy and capable businessman. If Armaan Suri employs some questionable tactics to ensure the survival of his company, THAT is seen as being spineless and incompetent!?!?!

Truth is, ethics and morals be damned, at least in India. It's the survival of the fittest. In fact, IIM introduced (or last I heard, was contemplating on introducing) a course on ethical governance in response to the growing need for educating management students on business malpractices - the scale of which is mindblowing at least in India. Everyone knows that more power breeds more corruption, not less... and Armaan Suri simply did what any Ambani would do too - he found a yes-(wo)man he could trust and control to buy enough time to turn the company around. What's so spineless about that? If Reliance was ever to face a financial crunch in the future, who knows to what lengths the Ambanis would go - and then go ahead and win "Businessperson of the Year" Awards to boot...if Armaan Suri does it, he's called a jerk!!??ConfusedConfusedConfused

very true queenbee...agree at most of what you have to say ....when i said incompetant...i meant he was most incompetant out of seths and suris.

     on a different note let us be honest ....even in worst situations can you see ambanis hand over thier empire to a yes-woman. it is like handing over your destiny. what is funny is he felt that jassi was a better candidate than mallika(who would probably be more in his control) or aryan(ok...i agree that is like losing badly) but if he was so concerned about company , he should have considered all alternatives. by the way first lesson you learn in a management class or corporate world is to never trust anyone.....keep an upper hand .....and know that human factor is always unreliable. most top notch tycoons hesitate handing over thier empires to thier family members  and spouses.....this guy hands it over to a girl outsidehis family(ok...she was an yes woman but it takes a sec for people to change when they have power_.as for what ambanis would have done in similar situation....they would have cheated, blackmailed, got more partners aboard,taken help from thier board of directors, married into money but never handed over the company to someone knowing that they would have lost it eventually....that is why they get businessman of the year award and armaan is called incompetant. also the way armaan handed over gm to jassi is know as corporate fraud(the law states the company cannot be tranferred to its employee in lieu of a small amount.....).which is what happened

                                 on a different point of view......armaan is shamed and loses gm bcoz of his karam but pray tell me what was the fault of seths that they end up losing the company too(jassi has a complete contol over gm). jassi resigns after cooking up the numbers....everybody else is left to face the aftermath and clean up after her.ethically both armaan and jassi are responsible and should be punished equally.



Edited by pj04 - 18 February 2005 at 9:39am
moskvaa Newbie
moskvaa
moskvaa

Joined: 14 February 2005
Posts: 19

Posted: 18 February 2005 at 10:12am | IP Logged
wow a discussion on corporate governance and ethics!!! what next ?s-ox?
Minnie IF-Rockerz
Minnie
Minnie

Joined: 20 September 2004
Posts: 8633

Posted: 18 February 2005 at 10:43am | IP Logged

     I have said this before too and will again say it.Armaan started as a green graduate who had objectives as high as the sky to acheive.Right in the beginning of his tenure as a chairman he took some quick decisions aiming to catapult Gulmohar into acheiving unbeleiving figures.

     When things started going wrong he immediately took actions to put it back on track.Ethical measures? No.Do you know Mukesh Ambani too has several floating companies e~la Kohinoor which have been floated very cleverly and Anil didn't even have the wind of it? Raised millions from Bank of America without getting his name anywhere in the middle and then said Reliance Energy and it's chairman Anil who is also a board member of Relaince Industries has no power to question about it?You would call this ethical? 

       The only one decision Armaan did make right was choosing Jassi as his assistant and depending on her. He depended on Jassi and there was nothing wrong in it.She always gave him the right direction and did everything in her power to get solid contracts for GM.Be it a cut in the price,dealing in dollars or getting discounts by paying hard cash or overcoming a loss of contract by using bank loans and channelising them. To run a company is not only to decide what to do next,but also on whom to place your trust on.And you think he was wrong in trusting Jassi and her capabilities?

     Mukesh Ambani too relied as heavily on his classmate and childhood friend Anand Jain to run not only IPCL but have a say in every decision that Mukesh has ever taken,who is said to be the main person behind the rift between the two brothers.    Today Mukesh is said to be surrounded by men who are misguiding him.The whole family has gone against him and they side Anil but Mukesh cares a hoot. Prime example of power breeding corruption and greed and ethics and values be damned.This,against his own brother.

    On a very small scale if we look at Armaan and his way of handling the company,they were not good and overambitious.But whatever loss GM is facing is due to those very first few decisions Armaan took (specifically the one in which he decided to use cheap raw materials and the losses from that immediately set him back by at least an year)and which back fired.And unfortunately his sidekick Raj was busy giving him stupid advices which invoved  lissome legs more than the finances...But the measures he took were almost immediate and his never say die attitude is commendable.Any company takes some time to come out of any financial crunch.Kohinoor was his brainchild and it paid off handsomely.Had everything gone according to his plans,in another six months GM would be out of debt,Armaan would have overcome his first few wrong decisions and he would have learned his lesson.

    When he proposed Kohinoor,he saw Jassi as his lackey.He could not even dream that one day this very lackey would rise above every ambition that he nurtured when he became the chairman.And this is exactly where everything went terribly wrong.

    As they say,man proposes God disposes.Well,in this case,BLF writers disposesLOL

  

Minnie IF-Rockerz
Minnie
Minnie

Joined: 20 September 2004
Posts: 8633

Posted: 18 February 2005 at 10:55am | IP Logged
Originally posted by pj04

 

                                 on a different point of view......armaan is shamed and loses gm bcoz of his karam but pray tell me what was the fault of seths that they end up losing the company too(jassi has a complete contol over gm). jassi resigns after cooking up the numbers....everybody else is left to face the aftermath and clean up after her.ethically both armaan and jassi are responsible and should be punished equally.

   Serves them right for treating their employees like dirt and placing more onus on the face than the brains.After what Jassi has done to them and their odiously  despicable snobbish attitude,they will think 100 times before underestimating anyone and insulting and trampling upon the self respect on anyone they don't take their fancy toAngry.Had they maintained a good and friendly relation with Jassi and respected her capabilities,they would have been the first one to know what was happening after Jassi found out she was being played with.If I was at Jassi's place,I would have wished upon those insufferable obnoxious Seths a worse fate than this!!!!!

Morgoth IF-Rockerz
Morgoth
Morgoth

Joined: 01 June 2004
Posts: 6831

Posted: 18 February 2005 at 11:02am | IP Logged

Originally posted by moskvaa

wow a discussion on corporate governance and ethics!!! what next ?s-ox?

LOL Enron, Ambanis, Special purpose entities, earnings management - everything has been discussed so far...Throw in Martha Stewart and Sarbanes-Oxley as well and we will be transported directly to an auditing class.

Btw, a couple of questions:

1) Has Jassi has been manipulating the balance sheets and Income statements by booking Kohinoor's revenues for Gulmohar or are they showing Kohinoor as an Investor/Creditor????

2) what is the punishment for creating fake companies (like Kohinoor) in India? Is it a jail sentence or do the regulatory agencies like SEC closely scrutinize them?

 

jprasad IF-Rockerz
jprasad
jprasad

Joined: 27 October 2004
Posts: 6974

Posted: 18 February 2005 at 11:07am | IP Logged
Thanks Minnie. Girl, you said it all. All Armaan did was
practice some unethical business practices and Jassi helped
him. They didn't kill anyone, they didin't carry out any terrorist
attacks. But you know, we do alot in the name of love. I do a lot
for my husband and I'll be damned if anyone condemns me for
it.

The Seths are quite intolerable...I would rather someone
practice some unethical business practices than someone treat
people as animals.
queenbee Goldie
queenbee
queenbee

Joined: 04 January 2005
Posts: 1418

Posted: 18 February 2005 at 11:08am | IP Logged
ABSOLUTELY!!!!!!! Clap

And may I add one thing here: Jassi may have been an outsider as far as family is concerned but there were compelling reasons not to trust anyone within the family.

Mallika - no!!! In the last episode, Mallika did ask him if he cudn't have trusted her instead of Jassi... and when Armaan asked her if she would have done as he said... her reply was anything but YES! He could never have controlled her - she's a much tougher cookie than Jassi. Plus, sooner or later family loyalty would come in the way. If Mallika felt she had good reason to come clean in front of Puru (considering she wudn't want to antagonize him, being the future bahu n all that) then she probably WOULD have. Besides, Aryan, his deadliest competitor would smell the blood and be after her like a shark. He might even have tried some devious means to get her to sign away the company to him. Could Armaan really have risked it!?!

As for Aryan... the reasons for not trusting him are obvious.. he was baying for the CEO's seat and all else be damned...

Jassi may have been an outsider but she had proved her worth both as a financial genius and as a confidante time and time again. There was no reason NOT to trust her. Besides, in business, you do have to take certain risky decisions that may or may not pay off. Armaan, being the brash arrogant young man he was, took the risk without anticipating failure. He had practically reached a dead end by then. Where would you have expected him to turn? How could this company-proud never-admit-defeat MBA suddenly turn around and tell his father he was a loser? This was the only option. That dosn't make it right, but then, very few things in business can be actually defined as right or wrong - it all depends how much you can get away with!!

As for Puru and the rest of the board members being forced to suffer.. I'm sure that's their past karma too Wink ... it's alwayyyyyyyyyyys karmaWinkWink

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