A high court cannot direct the state to part with its exclusive privilege in the matter of granting licence for establishing distilleries under the Foreign Liquor (Compounding, Blending and Bottling) Rules, 1975 and the Abkari Act. The Supreme Court stated so last week while allowing the appeal of the Kerala government in the case, State of Kerala vs Kandath Distilleries. It overturned the judgment of the Kerala high court on this question. In this case, the government received a large number of applications from liquor manufacturers for setting up units in different districts of the state. However, Kandath was not granted licence as the government maintained that its application was defective. The distillery moved the high court which stated that the government had ingenuously made a classification to weed out the firm and ordered it to grant licence. The government appealed to the Supreme Court and it set aside the high court judgment.  It said that no one has a right to get the lice

M J Antony: Liquor licence not a legal right

Business Standard

Each organisation establishes Enterprise Performance Management (EPM) system to monitor whether it is moving in the right direction to achieve its goal- strategic objectives. Top management uses different metrics to monitor strategy implementation. This is essential because a good strategy might fail due to poor implementation. EPM system in business firms has gone through many changes. It evolves in response to changes in the business environment (e.g. economic, social, political and technical), business strategy and the organisation structure. Managers design new EPM system whenever they find the existing system inadequate.At one time, business firms used to focus solely on financial performance. Short-term financial success was at the focus because the same was the driver for sustainability and growth. Firms used metrics based on accounting numbers such as return on invested capital (ROIC). General Electric Company started using residual income to measure divisional performance in e

Asish K Bhattacharyya: Enterprise Performance Management: Need for a paradigm shift

Paid social media advertising is increasingly being viewed as an integrated tactic

Social media advertsing

This years Budget presented by the finance minister, was as expected, exceedingly well articulated; also not a populist Budget, which was the biggest fear.  The challenges to the economy were correctly identified  the slowdown with five per cent growth, the dismal balance of payments position, and inflation.  To retrieve Indias growth trajectory, the finance minister has identified the goal to be inclusive and sustainable for growth. But the solutions are few and far between and the reactions to the Budget are not entirely optimistic.That there is no option other than foreign funding, whether direct investment, portfolio investment, or borrowings is acknowledged, but there is no indication of new policies, opening up of existing or new sectors,  addressing sectoral and other issues in telecom, insurance, and aviation to name a few.  A multi-pronged approach to increase the penetration of insurance is envisaged, but the sectoral restrictions have not been relaxed.  The textile and garme

Kumkum Sen: Budget 2013: A bitter-sweet offering

This years Budget has been widely acclaimed as bold and responsible. Yet, investors, both foreign and domestic, may greet it with only a yawn

Satya Poddar: Investors greet Budget with a yawn

When this person was the warden of the royal mint in the late 1690s one in four coins was a fake since their bits were being clipped of gold coins. In order to curb this, he designed and installed new minting machines that were 8 times faster and produced coins that were hard to forge or clip. Name this person.

The Strategist Quiz (#295)

Amidst all the talk of coal supply issues, the GMR group is going ahead with the commissioning of its two thermal power projects in Odisha and in Maharashtra from the next month.

GMR to commission two power projects from October

Finance Minister P Chidambaram has proposed a 6% excise duty on mobile phones above Rs 2,000

Samsung looking to revise handset prices

BS Reporter

Suzlon Energy takes its name from the Gujarati word "sooj-booj", which means clever thinking, and loans from banks , or 'lon'. Both these ingredients, says its founder Tulsi Tanti, form the cornerstone of any successful business. But it is the latter part of the name that Suzlon has come to be known for in recent times.

Suzlon's debt recast: Tilting at the turbines?

Government of India has decided to reduce the capacity of proposed Nuclear Power Plant at Rajauli, Nawada by half. However, the state government still wants the power plant and has already earmarked more than 3,000 acres of land for this purpose and asked the central government to expedite the process.

Bihar urges Centre to expedite nuclear power plant project

A majority of the 30-odd industrialists from Kerala who participated in the Budget viewing session organised by the Confederation of Indian Industries (CII) expressed their disappointment over the main proposals of the budget.CII (Kerala) vice chairman CJ George said,  "Given the seriousness of the economic context in which the Budget is presented, the finance minister did not have sufficient measures for revitalising the economy and its growth." Though he tinkered with the economy here and there the proposals like the taxing of the super rich and the tax on corporate houses, etc will have a relatively dampening effect.He said the proposal to make mutual fund agents members of the stock exchange was a surprise element. The commodity exchanges and the commodity market could take a beating due to the commodity transaction tax (CTT).Shyam Srinivasan, managing director and CEO of  Federal Bank described the proposal to start a women's bank as a 'headline item'. He, however, said that the i

Industry in Kerala disappointed with Budget

The ports have been proposed at Sagar, West Bengal, and in Andhra Pradesh, and would add 100 million tonne capacity

Proposed major ports may see Rs 2,000 crore

The facility would also serve as an export hub for the Southeast Asian market, Australia and New Zealand

Bosch and Siemens plans home appliances unit in Chennai

Company says it is raising resources in overseas markets

Opto rejigs board; to address working capital issues

The full bench of the EC held discussions and listened to suggestions of the parties regarding the poll

EC sets ball rolling on Karnataka Assembly elections

Press Trust of India

The upcoming Hyderabad Metro Rail Project has won the best engineering project of the year award at the sixth annual global infrastructure forum conference, currently being held in New York.The project was selected from three-short listed projects, including $7-billion Trans-Anatolian Gas Pipe Line of Azarbaijan and the integrated solar combined cycle power plant of Kuwait, a release said here on Friday. Engineering and construction major L&T is the concessionaire of the Rs 14,132-crore project.

Hyd metro wins intl award

The 600-seat capacity centre will primarily cater to its  international healthcare operations

Hinduja Global Solutions opens centre in Hyderabad

Identifies 45 locations outside the Outer Ring Road for these industries

Govt to shift polluting industries from Hyd

Kolkata based Indian Institute of Social Welfare and Business Management (IISWBM) would falicitate Rama Prasad Goenka, Chairman Emeritus of the RP- Sanjiv Goenka Group and Chairman of CESC Limited with the the Institute's Distinguished Management Fellowship. A former member of the Rajya Sabha.A former President of Federation of Indian Chambers of Commerce and Industry and Confederation of Asia-Pacific Chambers of Commerce & Industry., Goenka ,  also served as the  chairman, Board of Governors, Indian Institute of Technology, Kharagpur, which later conferred on him Doctor of Science.  He  is a Trustee of Jawaharlal Nehru Memorial Fund, Indira Gandhi Memorial Trust and Rajiv Gandhi Foundation.

RP Goenka to receive award from IISWBM

For a file containing report of irregularities in a dam construction, even 10 months is not sufficient to travel from one office to the other in the state capital of Chhattisgarh.

Officer completes probe, minister waits for report

New India Assurance, which has its presence in 22 countries plans to open three more branches in Myanmar, Qatar and Canada

New India keen to insure state against calamities

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