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http://www.nagpurtoday.in/crony-cap...rafale-chosen-to-fly-in-indian-skies/10302146
Nagpur: India is on a spree of purchasing Fighter planes and other Defense equipments resulting in the international manufacturing companies, based either in USA or Europe, going in a frenzy in their attempts to be the ‘chosen ones’.
In this fierce competition, French Defense companies seem to have found a ‘secret weapon’ in their arsenal, namely a Gujarathi Businessman with a famous name. You guessed it – Ambani!
But if you guessed Mukesh, think again: it is younger brother Anil who is the flavour of the season among French companies.
Last year, in 2016, observors were stunned when French company Dassault, manufacturers of Rafale fighter planes, chose Anil Ambani as their Indian partner.
That is because unlike elder brother Mukesh, Anil does not have a very successful track record in doing business. His defense venture in fact, was blacklisted few years ago by some manufacturers.
Companies like Mahindra or Tatas have a much track record in automotive plus Defense sector, but they are nowhere close to Ambani suddenly in procurements in this sector.
Let’s look at Anil Ambani companies that are in the red.
The debt ridden R.Com, to begin with…
His telecom company R.Com and Entertainment companies have been running into heavy losses and he is a loan defaulter to the tune of Rs. 42,000 crores. In fact, it is just his one company RCom that has a total debt of around Rs 42,000 crore.
According to sources, the latest on R.Com is that in a bid to stop losses, the debt-laden company is pulling the plug on its 2G services.
The company will shut down all 2G mobile operations by November 30. This will lead to about 1,500 job losses, according to industry sources. Subscribers will be given the option to either shift to its 3G/4G network or port out to another operator.
Separately, RCom has also decided to close down its direct-to-home (DTH) services, operating under the brand Reliance Digital TV, with effect from November 18.
RCom will upgrade all its 2G customers, totalling over 40 million, to 3G and 4G services depending on their preferences and handsets they own. The company has cited cutthroat competition in the sector, especially with a new entrant coming in with “creative destruction”, sources close to the development said.
RCom has nearly 2,500 employees, of which 1,200-1,400 are working on 2G. It is believed a large number of these will be asked to go said sources.
As a political commentator has commented, ” curiously enough, with a drag of $12 billion in debts and failures of several large-scale ventures, Ambani has been able to win the trust of the French conglomerates. The Rafale fighter aircraft deal, amongst other defence contracts signed between the two governments, has given a major lift-off to the financial health of the Reliance business magnate, after suffering massive losses in telecom and entertainment sectors.”
If Ambani is benefiting, can Adani be far behind?
A recent alliance was announced in September between Sweden’s SAAB and its strange new partner, the Adani Group, for an order of F-16 fighter aircrafts. Just like Ambani, Adani is also clinching defence deals all over the world, in the name of the Indian government.
This is on account of the two business tycoons close relations with PM Narendra Modi, alleges Intelligence Online, a Paris-based strategic information newsletter.
Why is Anil Ambani being favoured by French Companies?
In one of its recent issues Intelligence Online remarked, “In just a few months, Indian business tycoon Anil Ambani has established himself as the key intermediary for virtually the whole of the French military-industrial complex in India. He has close relations with Indian Prime Minister Narendra Modi, who has been in power since 2014.”
Further writes Online, “Since then, Modi has signed several major contracts with French industrial groups partnered by Ambani. The leading one among them is Dassault, which signed a mega contract for the sale of 36 Rafale fighter aircraft with India in September 2016. Thanks to this and other contracts, the flamboyant business magnate has been able to restore his financial health after the failure of several large-scale ventures which have been carefully edited out of his officially biography. How has Ambani been able to win the loyalty of French business groups? Has he the financial solidity to meet the commitments he has taken on in the defence sector?”
Ambani’s dismal payment track record in Nagpur MIHAN
Till the Ambani – Dassault deal had not happened, the Anil Ambani group of companies did not even have the wherewithal to pay for land it had been ‘given’ for an Aerospace park in MIHAN.
As we at NT only had reported in January 2017 in a story captioned Is Reliance Group’s defence project at Mihan SEZ in doldrums?
Yet another “high-end investment drama” at MIHAN has come to the fore. The Reliance Group Chairman Anil Ambani had with great fanfare announced an investment worth Rs 6,500 crore to set up a greenfield aerospace project in 289 hectares of land in Nagpur’s ambitious Mihan SEZ on the “request” of Union Minister Nitin Gadkari. Forget the big investment, the Reliance Group has not even taken the possession of the land for the project.
In August last year, Maharashtra Chief Minister Devendra Fadnavis had handed over the land allotment letter at a ceremony in Nagpur to Anil Ambani, the Chairman of Reliance Group for its defence arm — the Reliance Aerostructure Ltd in the presence of Union Minister Nitin Gadkari. Since then even the foundation of the project has not been laid. After becoming minister in Modi Government, Gadkari had met Anil Ambani and “requested” to invest in the ambitious MIHAN SEZ. But now the entire project seems to be in doldrums as the ADAG defaulted in paying the cost of the land forcing Maharashtra Airport Development Company (MADC) to send reminders to the high-profile company. The Reliance Company has not deposited Rs 63 crore of the land till November 2016.
How the picture has changed from 2016 to 2017 end!
On October 27th this year, the foundation stone for the Dassault Reliance Aerospace Park (DRAL) manufacturing facility was laid at Mihan in Nagpur. The foundation stone was laid in the presence of Florence Parly, Minister of Armed Forces of French Republic, Chief Minister Devendra Fadnavis, Union Minister Nitin Gadkari, Ambassador of France to India Alexandre Ziegler, and over 200 dignitaries from Maharashtra and city administration.
So an Indian company that had dragged its feet in making payments for lands it had ‘acquired’ in MIHAN in 2015 itself is now set to turn around MIHAN and will manufacture several components of the offset obligation connected to the purchase of 36 Rafale Fighters from France, signed between the two governments in September 2016.
One really wonders, was the script for this momentous happening scripted long ago in 2014 and was Anil Ambani just biding time till his ‘partnership’ with Dassault, and now other French companies, did not materialize?
As the French would say, there is something ‘fishy’ brewing in this stew that smells not very appetizing!
Cynics would say ‘ finally, the money paid for the Modi’s campaign via the People’s Electoral Trust (PET) has started to bear fruit for Anil Ambani and his sinking Reliance group’
Because right after his election victory of 2014, PM Modi got Ambani involved into the Rafale negotiations.
Nagpur: India is on a spree of purchasing Fighter planes and other Defense equipments resulting in the international manufacturing companies, based either in USA or Europe, going in a frenzy in their attempts to be the ‘chosen ones’.
In this fierce competition, French Defense companies seem to have found a ‘secret weapon’ in their arsenal, namely a Gujarathi Businessman with a famous name. You guessed it – Ambani!
But if you guessed Mukesh, think again: it is younger brother Anil who is the flavour of the season among French companies.
Last year, in 2016, observors were stunned when French company Dassault, manufacturers of Rafale fighter planes, chose Anil Ambani as their Indian partner.
That is because unlike elder brother Mukesh, Anil does not have a very successful track record in doing business. His defense venture in fact, was blacklisted few years ago by some manufacturers.
Companies like Mahindra or Tatas have a much track record in automotive plus Defense sector, but they are nowhere close to Ambani suddenly in procurements in this sector.
Let’s look at Anil Ambani companies that are in the red.
The debt ridden R.Com, to begin with…
His telecom company R.Com and Entertainment companies have been running into heavy losses and he is a loan defaulter to the tune of Rs. 42,000 crores. In fact, it is just his one company RCom that has a total debt of around Rs 42,000 crore.
According to sources, the latest on R.Com is that in a bid to stop losses, the debt-laden company is pulling the plug on its 2G services.
The company will shut down all 2G mobile operations by November 30. This will lead to about 1,500 job losses, according to industry sources. Subscribers will be given the option to either shift to its 3G/4G network or port out to another operator.
Separately, RCom has also decided to close down its direct-to-home (DTH) services, operating under the brand Reliance Digital TV, with effect from November 18.
RCom will upgrade all its 2G customers, totalling over 40 million, to 3G and 4G services depending on their preferences and handsets they own. The company has cited cutthroat competition in the sector, especially with a new entrant coming in with “creative destruction”, sources close to the development said.
RCom has nearly 2,500 employees, of which 1,200-1,400 are working on 2G. It is believed a large number of these will be asked to go said sources.
As a political commentator has commented, ” curiously enough, with a drag of $12 billion in debts and failures of several large-scale ventures, Ambani has been able to win the trust of the French conglomerates. The Rafale fighter aircraft deal, amongst other defence contracts signed between the two governments, has given a major lift-off to the financial health of the Reliance business magnate, after suffering massive losses in telecom and entertainment sectors.”
If Ambani is benefiting, can Adani be far behind?
A recent alliance was announced in September between Sweden’s SAAB and its strange new partner, the Adani Group, for an order of F-16 fighter aircrafts. Just like Ambani, Adani is also clinching defence deals all over the world, in the name of the Indian government.
This is on account of the two business tycoons close relations with PM Narendra Modi, alleges Intelligence Online, a Paris-based strategic information newsletter.
Why is Anil Ambani being favoured by French Companies?
In one of its recent issues Intelligence Online remarked, “In just a few months, Indian business tycoon Anil Ambani has established himself as the key intermediary for virtually the whole of the French military-industrial complex in India. He has close relations with Indian Prime Minister Narendra Modi, who has been in power since 2014.”
Further writes Online, “Since then, Modi has signed several major contracts with French industrial groups partnered by Ambani. The leading one among them is Dassault, which signed a mega contract for the sale of 36 Rafale fighter aircraft with India in September 2016. Thanks to this and other contracts, the flamboyant business magnate has been able to restore his financial health after the failure of several large-scale ventures which have been carefully edited out of his officially biography. How has Ambani been able to win the loyalty of French business groups? Has he the financial solidity to meet the commitments he has taken on in the defence sector?”
Ambani’s dismal payment track record in Nagpur MIHAN
Till the Ambani – Dassault deal had not happened, the Anil Ambani group of companies did not even have the wherewithal to pay for land it had been ‘given’ for an Aerospace park in MIHAN.
As we at NT only had reported in January 2017 in a story captioned Is Reliance Group’s defence project at Mihan SEZ in doldrums?
Yet another “high-end investment drama” at MIHAN has come to the fore. The Reliance Group Chairman Anil Ambani had with great fanfare announced an investment worth Rs 6,500 crore to set up a greenfield aerospace project in 289 hectares of land in Nagpur’s ambitious Mihan SEZ on the “request” of Union Minister Nitin Gadkari. Forget the big investment, the Reliance Group has not even taken the possession of the land for the project.
In August last year, Maharashtra Chief Minister Devendra Fadnavis had handed over the land allotment letter at a ceremony in Nagpur to Anil Ambani, the Chairman of Reliance Group for its defence arm — the Reliance Aerostructure Ltd in the presence of Union Minister Nitin Gadkari. Since then even the foundation of the project has not been laid. After becoming minister in Modi Government, Gadkari had met Anil Ambani and “requested” to invest in the ambitious MIHAN SEZ. But now the entire project seems to be in doldrums as the ADAG defaulted in paying the cost of the land forcing Maharashtra Airport Development Company (MADC) to send reminders to the high-profile company. The Reliance Company has not deposited Rs 63 crore of the land till November 2016.
How the picture has changed from 2016 to 2017 end!
On October 27th this year, the foundation stone for the Dassault Reliance Aerospace Park (DRAL) manufacturing facility was laid at Mihan in Nagpur. The foundation stone was laid in the presence of Florence Parly, Minister of Armed Forces of French Republic, Chief Minister Devendra Fadnavis, Union Minister Nitin Gadkari, Ambassador of France to India Alexandre Ziegler, and over 200 dignitaries from Maharashtra and city administration.
So an Indian company that had dragged its feet in making payments for lands it had ‘acquired’ in MIHAN in 2015 itself is now set to turn around MIHAN and will manufacture several components of the offset obligation connected to the purchase of 36 Rafale Fighters from France, signed between the two governments in September 2016.
One really wonders, was the script for this momentous happening scripted long ago in 2014 and was Anil Ambani just biding time till his ‘partnership’ with Dassault, and now other French companies, did not materialize?
As the French would say, there is something ‘fishy’ brewing in this stew that smells not very appetizing!
Cynics would say ‘ finally, the money paid for the Modi’s campaign via the People’s Electoral Trust (PET) has started to bear fruit for Anil Ambani and his sinking Reliance group’
Because right after his election victory of 2014, PM Modi got Ambani involved into the Rafale negotiations.
