Trust without trust
Vijay Singh names the trio What happens next ?
Vijay Singh finally made a very dignified public statement.
Like any good seasoned bureaucrat, he came up with a honest frank statement. He said he was ousted and he named the trio of trustees. One of them is out. Now what happens to the other two.
It is important to understand where else similar moves are being planned. An elementary question for any ai is to get a list of companies where the trustee in question is a director.
Given the highly contentious background of the individual involved – a bigger question is “ is he acting alone or is he acting for someone”. If a gujrati is involved – the names of the two big gujratis come up. But that does not seem to be the case. Here a foreign power seems to be involved.
That brings us to the next question – why would a foreign power be interested in our top tier professional board run companies like Tata, HDFC, Infosys and L&T. And the answer lies in their ability to access global capital markets and pull off projects at scale. Setting up a couple of TW solar capacity is a no brainer. We have the technology and the solar panels can be imported from China.
Tata and L&T could have owned solar power generation. Why don’t they ??? What does a Renew or a KKR have that a Tata or L&T does not have. Are the boards of these companies deciding resolutions in the interests of the co or against. Tata was the first Indian corporate to enter solar with Tata BP Solar yet it is nowhere in the league table. It has thermal generation and distribution – yet it seems to have miraculously missed the solar gravy train.
L&T is a large epc contractor in solar. Yet they niether make the solar modules nor the batteries nor the Invertor’s. But they want to make electrolysers in which they have no core competency or technology. Who are the geniuses making these decisions and why ? The entire resources of the company are being diverted to focus on being a contractor for real estate. A business with no margin. Topline is being increased by trading in construction business in an e-commerce format – a business with negative margins. The buildings that are build fast are not build to last. Brand new buildings in the central vista have cracks. Sure the govt is a manageable client. But would that work in a luxury building near the mumbai sea bridge.
The Tata group is exactly 60 months from being bankrupt. TCS will struggle to compete with Accenture or to maintain salary payments. Tata motors has no chance against Chinese EVs. The iron and steel cartel has to to break at some time.
Both Tata and L&T are chasing government subsidies and contracts full time. But they have no technology. No innovation. Just environment management.
Can they be saved.
Or like everything else.
Death is the only certainty.