India's Kapil Dev Retires To Become Television Commentator
John Perry, News India-Times
1. NRIs Can Head Stockbroking Joint Ventures
2. Immigration Board Member Resigns Over Illegal Entry
3. Kapil Dev Retires To Become Television Commentator
4. Congressman Charles Schumer Graces Diwali Function
4. Yogi Resigns After Sex Scandal
* * * *
By YOGESH K. YOGIRAJ
NEW DELHI: Foreign citizens and non-resident Indians can now
be appointed to the boards of joint venture stockbroking
companies, a government statement said November 7.
Informed sources said this implies that foreigners can now
trade on the floor of Indian stock exchanges. According to
the statement, the government has permitted, on a selective
basis, joint ventures in stockbroking with overseas
companies.
Such joint ventures need the flexibility of having non-
Indian citizens on the board of directors. While this is
possible in all other financial services, it was possible in
stockbroking companies only with the specific permission of
the government in each case. This special restrictive
feature is being eliminated to allow non- Indians, including
NRIs, to become directors of stockbroking companies
incorporated in India which are members of the stock
exchanges. Any director of such a company can also continue
as such even if at some stage he ceases to be a citizen of
India.
It is expected that this amendment will facilitate the entry
of professionally qualified foreign citizens, including
NRIs, as directors of Indian stockbroking companies thereby
leading to globally accepted stockbroking practises and
research, greater competitiveness and provision for better
services to the investing public, according to the
statement.
This marks a further step in the liberalization of the
financial services sector which western countries interested
in investing in India had been clamoring for.
The statement further said that the government has been
actively encouraging the corporatization of stockbroking
firms with a view to facilitating the modernization and
development of the stock market and raising the capital base
of stockbroking companies. According to stock market
experts, the fact that foreigners and NRIs have been allowed
to become directors of stockbroking firms has a significance
beyond merely providing greater flexibility. Once foreign
citizens become board members, there is no way they can be
prevented from trading on the floors of the exchanges. They
will act as representatives of their companies and the
exchanges will have to allow them to trade on the floor,
according to market observers.
There is, however, in existence a rule that foreign brokers
can only place orders with their Indian counterparts and
cannot become members of the exchanges.
In order to get around this, foreign broking firms may form
joint venture firms with Indian corporate members of stock
exchanges. By doing so, they can get their foreign
representatives as board members and thus get access to the
Indian stock exchanges.
Immigration Board Member Resigns Over Illegal Entry
Special To News India-Times
OTTAWA: An appointee to Canada's Immigration and Refugee
Board resigned November 6 after admitting he entered the
country illegally in 1976 by jumping ship in Montreal and
then entering into a brief marriage.
A government spokeswoman said Immigration Minister Sergio
Marchi had received a copy of the resignation and understood
Inderjit Singh Bal's reason for quitting.
Bal told the Commons immigration committee last week that he
married a Canadian and obtained landed-immigrant status
after arriving in 1976 from India. They were divorced five
years later. News reports said he already had a wife in
India.
Bal's letter of resignation denied allegations that it had
been a marriage of convenience. "I want to clarify that I
have only been married twice and never to more than one
woman at any given time," the Sikh immigrant wrote in his
letter to the board.
But he acknowledged that he had damaged the credibility of
the board, which decides whether refugee claimants are
accepted in Canada.
The co-founder of the World Sikh Organization said he
returned to India in 1977 to get a visa and was interviewed
by Canadian immigration officers in New Delhi. "When I came
to Canada in 1978 as a landed immigrant, I believed that the
slate had been wiped clean," he said.
Bal, a former chairman of the Liberal Party's multicultural
committee and a former member of the Liberal Party in
Marchi's York West riding (electoral constituency), is one
of many refugee advocates that the immigration minister has
named to the IRB in the past year.
Art Hanger of the right-wing Reform Party obtained a
transcript of a 1992 radio interview in Punjabi in which Bal
admitted he entered Canada illegally and married a Canadian
to become a legal immigrant.
Kapil Dev Retires To Become Television Commentator
>From News Dispatches
NEW DELHI: Kapil Dev Nikhanj, the world's leading test match
wicket taker and one of the greatest sporting heroes of
India, announced his retirement last week from first class
cricket to become a television commentator.
"I'm very happy man as I leave cricket. I have absolutely no
regrets," the spearhead of India's bowling attack for 16
years told a packed and emotional news conference as he
announced a decision widely expected after injury put him
out of the one-day series against West Indies and New
Zealand.
"I wanted to retire in Calcutta at Eden Gardens, which I
love a lot. But if I was to announce my retirement in
Calcutta, I would have to wait another year and that's not
possible," he said. "Today, I thought, was the right day to
hang up my boots." Kapil was put out of the tournament in
the opening game against the West Indies by a hamstring
injury, adding to a recurrent knee problem which had
hampered his bowling for months. "I enjoyed my cricket. I'm
grateful to my countrymen who gave me such tremendous love
and affection," he said.
Indians are known for heaping lavish praise on their
cricketing heroes although they pour scorn on them viciously
when they fail. In the past year or two, Kapil suffered
more than his fair share of derision as his fast-medium
bowling slowed and his mastery of swing and movement off the
pitch faded.
Many said he was putting off retirement and that the
selectors were keeping him in the side only so he could beat
the world test wicket record of New Zealand's Sir Richard
Hadlee.
Kapil half acknowledged that. "I have been superbly treated
by the players, cricket officials and selectors," he said.
Whether blasting a spectacular World Cup century at
Tunbridge Wells or taking nine West Indies test wickets in
an innings at Ahmedabad, Kapil Dev was the jewel in India's
cricket crown for more than a decade.
The 35-year-old, who took a world record 434 wickets in 131
tests, is the only man in test cricket to have scored over
5,000 runs and taken more than 400 wickets. He conceded
12,867 runs at an average of 29.64 for his 434 victims in a
17-year test career.
Kapil scored 5,248 runs at an average of 31.05 in 184 test
innings, remaining unbeaten on 15 occasions. His 163
against Sri Lanka at Kanpur during the 1986-87 series topped
his eight centuries. There were also 27 fifties and 64
catches.
It is testimony as much to Kapil Dev's stamina and
durability as to his batting and pace bowling skills that he
has set such marks in an age when the volume of
international cricket at one-day and test level imposed
considerable physical strain.
A genuine strike bowler in his early days, Kapil Dev
gradually lost his pace but over the years still commanded
rhythm, accuracy, guile and the ability to seam and swing
the ball effectively. He captained India to its World Cup
triumph in 1983 -- the odds for India were quoted at 500-1
for the tournament -- and played county cricket for
Northamptonshire and Worcestershire in the 1980s. During
the 1983 World Cup in England Kapil gave a perfect
demonstration of his ability to play an explosive middle
order innings.
In a group match against Zimbabwe at Tunbridge Wells, Kapil
rescued India from 17 for five with a breathtaking 175 not
out that hauled his team to a final score of 266 for nine.
They won the match by 31 runs.
More briefly, though no less spectacularly, Kapil thrilled
the crowd at the 1990 Lord's test with a glorious exhibition
of hitting against England off spinner Eddie Hemmings.
India needed 24 to avoid the follow-on with one wicket left,
and Kapil boldly answered the challenge in magnificent
style by straight-driving four consecutive sixes.
Significantly, Kapil's best test bowling figures were
against the most powerful team of the 1980s, the West
Indies. He took nine for 83 in the second innings of the
third test in Ahmedabad, though
still finishing on the losing side.
Kapil has been unique in Indian cricket from the moment he
made his debut against Pakistan in the 1978 series that saw
the two nations resume sporting contacts halted since 1963
by war and constant animosity.
He was genuinely quick, unusual for a side in which the new
ball was generally shared by medium pacers who took the
shine off before handing over to the world-class spinners on
whom India relied to take the wickets.
Kapil has become the role model for a generation of young
Indian cricketers and, by the mid-1980s, medium-fast bowlers
were pressing their test claims.
Kapil was a temperamental player, and even his most ardent
fans agreed he needed motivating. "He needs to be spurred
on, provoked, chided, cajoled into performing," said India's
former captain Sunil Gavaskar. "For all his batting feats,
bowling is what Kapil believes is his principal role.
"My focus has always been bowling," Kapil said. "I'm
primarily a bowler and I have never forgotten that." In
limited-over internationals, Kapil was the first to claim
200 wickets and retires with 253 dismissals, having conceded
6,946 runs at an average of 27.45. Kapil's dashing batting
netted 3,783 runs at an average of 23.79.
Congressman Charles Schumer Graces Diwali Function
NEW YORK: Amid the expression of good wishes from patrons
and friends, the annual award function organized by News
India-Times at the Bombay Palace hotel in midtown Manhattan
began on a pleasant note as chief guest Congressman Charles
E. Schumer greeted the gathering saying "Shubh Diwali."
The excellent weather added vigor to the impressive evening
ceremony held on November 5 as more than 150 guests
enthusiastically participated in the proceedings. Schumer,
a New York Democrat, described the occasion as a "good night
for America."
Schumer said in his brief speech that setting up a newspaper
means establishing a new community and integrating it with
American society. A newspaper helps members of a community
communicate easily with one another, he said.
Recalling the migration of Parsis (people from present-day
Iran) to Gujarat more than a thousand years ago following
persecution, he appreciated the effort made by them to
integrate with the local populace. "When a glass of milk was
offered by the ruler to the new immigrants, they added sugar
to it," Schumer said, elaborating that they were not only
ready to become part of India, but also were keen to sweeten
it with their own enterprise.
"The Indian community is growing vastly and contributing
immensely to American society," he noted. "The community is
molding itself into the mainstream while maintaining its
ways. And that is the relationship that exists between
Indian and American communities." Dr. P. Jayaraman,
executive director of Bharatiya Vidya Bhavan, New York,
described Perry as a good friend. "He is the editor, he
considers me his mentor; he is a journalist, but reveres me
as a philosopher," he observed. "I've seen the weekly grow
and grow and reach the present position. The paper has
established a tradition of honoring persons who excel in
various fields... Let the tradition continue and be emulated
by others."
He lauded the good work being done by the editor and
publisher as well as the entire staff. The head of the
educational and cultural institution representing India
blessed the weekly and wished its members a happy Diwali and
prosperous new year.
Earlier welcoming Schumer in Hebrew, News India-Times editor
and publisher John Perry said: "Behold, how good and
pleasant it is to see the brethren dwelling together in
unity," adding that the congressman is now a part of the
Asian Indian community in the US. Deputy editor Srinivas R.
Ranga proposed a vote of thanks. A representative from the
governor's office read out a message from Mario Cuomo
greeting the weekly, which completed nearly 10 years under
the present management.
The senior congressman presented on behalf of News India-
Times the "Community's Man of the Year" award (for 1994) to
V. Subbarao, outgoing chief of the State Bank of India, New
York, for his services to various sections of the community
and institutions such as the Bhavan.
Dharam Shourie, bureau chief of the Press Trust of India,
New York, was given the "Journalist of the Year" award for
his vast contribution to the field. The veteran
correspondent's reports are widely read both in the United
States and India.
The following were the other awards presented on the
occasion: Businessman of the Year -- Sammy Nanwani,
Businesswoman of the Year -- Arifa Malik, Excellence in
Entertainment -- Kanu Chauhan, president of Rajsun
Entertainment; Visual Media Awards -- Rajshree Daryanani and
Poonam Khoobani (both from TV Asia), Contributor's Awards --
Dr. Shashi Agarwal (Medicine), Attorney Cyrus Mehta (Law)
and Ajay Chanchani (Finance).
Yogi Resigns After Sex Scandal
By ANSHU SHOURIE
LENOX, Massachusetts: A world famous Indian spiritual leader
who advocated celibacy, resigned as the spiritual head of a
yoga center October 31 after admitting that he engaged in at
least three extramarital affairs with followers.
Yogi Amrit Desai, the 62-year-old saffron robe clad founder
of the Kripalu Yoga Center, stepped down from the position
of the Spiritual Director at the urging of the board of
directors. Also known as "Gurudev," Desai agreed to publicly
acknowledge his inappropriate behavior and to pay for any
therapeutic help the women might need, according to commune
officials.
Desai, who is married and has three children and two
grandchildren, "confessed to the board that he had sexual
relationships with three female commune members at various
times between 1974 and 1986," Jonathan Foust, interim public
relations director, told News India-Times.
"Gurudev," who condones sex only within marriage had
voluntarily taken a much publicized vow of celibacy to set
an example for his followers. Spiritual devotees, in the
grounds of the set in the picturesque Berkshire Mountains,
western Massachusetts, were disturbed by the news. Many
followers had also taken the vow of celibacy, encouraged by
the master, as a way to focus energies on yoga and to learn
the art of self-containment.
"My first reaction was shock," said Foust, who remained
celibate for what he described as "difficult" six years
before he married four years ago. "I felt betrayed because
celibacy is no easy practice," he added.
"He had been teaching very strict standards around celibacy
since the very beginning, so he essentially went against the
teachings of the fellowship," said Michael Risen, Kripalu's
president and chief operating officer. Foust told
this weekly that one of the women with whom Desai had been
involved was the center's former chief executive officer who
resigned a year ago. "Gurudev" also had a two-year affair
with another woman staff member and a brief relationship
with a third. Two of the women came forward and went to the
board last month.
The yogi acknowledging the allegations as being true arrived
at a decision with the board to give up his $150,000 a year
job. A news release issued by the commune stated that the
decision was based on "Gurudev's years of silence and
denial, the suffering of the women involved, impact on the
families of the women involved and the undue accusations
made against one of the women who had the courage to speak."
In a public confession Desai asking for forgiveness
and prayers from his followers said, "I deeply regret any
suffering I have caused to the people directly involved and
the Kripalu family. This has been a time of deep self-
reflection. It is the integrity of our community and our
commitment to truth that has allowed the process of healing
to begin. I am deeply grateful to the board and the Kripalu
community for sustaining an environment of trust, compassion
and honesty."
The former spiritual leader is currently taking time off
from the center with his family. Asked if the yogi will be
expelled from the community itself, Foust said that he could
not speculate on the issue. "Right now Gurudev is taking
time for self-reflection and sadhana. I cannot say anything
beyond that because I do not know what is going to happen
next," he said. The 320-acre ashram was founded
by Desai in 1972 and now has an annual budget of $8 million.
With 275 residents Kripalu Center provides refuge for 14,000
meditation-seeking guests each year.
Risen said Kripalu which has a network of about 200
certified teachers in 25 countries teaching yoga will be
affected by the scandal. But he expressed confidence that
the center will be able to weather the controversy and
continue its programs on routine. Calling itself
"the largest residential facility for holistic health and
education in North America, the center offers weeklong stays
at the ashram for $240 to $540. The stay includes "high
energy dance kinetics with beating drums, intense yoga
sessions and all-you-can-eat vegetarian fare.
Even though the future relationship of the yogi with the
center is undetermined, the board said that it "has no
intention of repudiating Gurudev as a teacher and he will
always be our founder."
In a statement to the members of the commune the board
stated, "Your personal relationship with Gurudev will be
based on your personal choice. The mutual agreement only
involves his resignation from his formal role as Spiritual
Director."