Friday, December 4, 2020
Home Opinions CCD and the accusations

CCD and the accusations

Also Read

VG Siddhartha, founder of India’s largest coffee chain Cafe Coffee Day (CCD), has apparently committed suicide. In a letter reportedly written by Siddhartha to the board of directors and his CCD family before he went missing, he said he had “failed to create the right profitable business model despite my best efforts”. In this letter that has been attributed to Siddhartha, the entrepreneur had spoken about the tremendous pressure from lenders and some private equity players, attempted to insulate the company officials and family from the repercussions of some decisions and alleged harassment by a senior income tax department official. Siddartha’s pvt companies alone has over Rs. 3500 crores of debt. There is a strong feeling among Bengaluru’s business and political circle that searches on DKS and his financial consultant N C Sukapuri on August 2,2017 revealed financial transactions of Shivakumar’s close relatives with CCD and M Soul Space.

R Jagannathan writes in Swarajya: “’The second lesson is clearly for the government and the taxman, especially the former, to learn. Two lessons, in fact. One is not to get too greedy on tax revenues, and the other is to give India Inc time and space to reform and adjust to the new realities of doing business the clean way.”

He further elaborates: “If the old cronyism is being dismantled, and government-business ties are being reset to ensure more clean working and less corruption, it will take time for businesses to readjust to this new reality. All things considered, this is the time to give beleaguered businessmen the long rope and not tighten the noose.’’

It would be absurd to link the likely suicide of V G Siddhartha to the pressures he may have faced from the taxman although overreach by taxman is hinted by some like Congress party. Moreover, blaming govt. for being greedy on tax revenues and tightening the noose on unclean businessman is preposterous. Govt lays down the policy and it is for the officials to implement the policy properly. It is easy to come up with catchy slogans like giving the long rope to the beleaguered businessmen but what does it really mean practically, going slow on enforcement?

For long businessmen have been getting away with malpractices, only after Modi govt. came that tightening of the noose has started. It is true that with GST, many businessmen are now finding it difficult to hide their tax obligations, unlike before and it is impinging on their cash flow. But rules are rules and taxes have to be paid. Is Jagannathan now telling the govt to go slow on enforcing the applicable rules? This would be congressification of the govt.

P Rajagopal. A leading businessman died in a hospital in Chennai nine days after the Supreme Court rejected his plea seeking bail on medical grounds. He planned the murder of an employee because he wanted to marry the man’s wife. The popular chain selling Dosa has 80 outlets across the world and employs thousands. Do we hold Supreme Court responsible for his death telling that The Court should have gone slow and allowed him bail?

It has become fashionable these days to hold a contra view however absurd it is and to hold govt. responsible in every matter. It is indeed sad that even reputed journals allow its journalists to propagate such absurd views.

The writer has been a long-standing commentator on contemporary issues.

  Support Us  

OpIndia is not rich like the mainstream media. Even a small contribution by you will help us keep running. Consider making a voluntary payment.

Trending now

Latest News

NEP 2020: Revamping higher education and challenges ahead

Hope the government will implement NEP successfully in the higher education system and achieve all its goals in the predicted time. Thus, India will restore its role as a Vishwaguru.

Domestic violence: A grave concern

Domestic violence occurs when one person tries to dominate and control another person in a family-like or domestic relationship. Domestic violence involves...

Justin Trudeau’s unwarranted support to Farmers protests, was made on behest of Khalistani secessionists?

One has to wonder why Canadian PM has to make these unwarranted statements and the underlying aspect is, his coalition government is hanging with the support of the New Democratic Party which is a socialist far left political party and its leader is none other than Khalistani supporter Jagmeet Singh Dhaliwal.

BJP and the need for the saffron party to win GHMC

many, are making fun of this, that just to fight Owaisi brothers and the KCR, BJP had to put their full force in this election, but how many of us have realized the depth of this move by BJP?

Overview of voting trends of Muslims in Bihar election 2020

by observing the overall data, one can conclude that non-Muslim votes are divided into Muslim and non-Muslim candidates while Muslim votes are only divided among Muslim candidates.

Are the phrases “Brahmin left and Brahmin bailout”, a rhetoric of anti-semitism on Brahmin community?

The term Brahmin Left is a new phrase being used by Progressive left to showcase Brahmin community of India. It is not new that Brahmins community is often dragged in western media to malign them in a derogatory way.

Recently Popular

गुप्त काल को स्वर्ण युग क्यों कहा जाता है

एक सफल शासन की नींव समुद्रगप्त ने अपने शासनकाल में ही रख दी थी इसीलिए गुप्त सम्राटों का शासन अत्यधिक सफल रहा। साम्राज्य की दृढ़ता शांति और नागरिकों की उन्नति इसके प्रमाण थे।

Did this abusive journalist do a ‘fake interview’ while with Hindustan Times?

According to allegations, Swati Chaturvedi published a fake interview with George Fernandes.

सामाजिक भेदभाव: कारण और निवारण

भारत में व्याप्त सामाजिक असामानता केवल एक वर्ग विशेष के साथ जिसे कि दलित कहा जाता है के साथ ही व्यापक रूप से प्रभावी है परंतु आर्थिक असमानता को केवल दलितों में ही व्याप्त नहीं माना जा सकता।

वर्ण व्यवस्था और जाति व्यवस्था के मध्य अंतर और हमारे इतिहास के साथ किया गया खिलवाड़

वास्तव में सनातन में जिस वर्ण व्यवस्था की परिकल्पना की गई उसी वर्ण व्यवस्था को छिन्न भिन्न करके समाज में जाति व्यवस्था को स्थापित कर दिया गया। समस्या यह है कि आज वर्ण और जाति को एक समान माना जाता है जिससे समस्या लगातार बढ़ती जा रही है।

Pt Deen Dayal Upadhyaya and Integral Humanism

According to Upadhyaya, the primary concern in India must be to develop an indigenous economic model that puts the human being at centre stage.