Mint 07 September 2024
Mint 07 September 2024
A QUEER ARTIST’S
WORLD OF HOPE
SATURDAY, SEPTEMBER 7 2024 Artist Debashish Paul has
always explored the
challenges of queer identity
and desire within society’s rigid
diktats. In his new solo show,
he looks at this complex
subject from a deeply
autobiographical lens.
SEE PAGE 11
PASSING THE
VIBE CHECK WITH PERONALISED PLAYLISTS AND IRREVERENT
SPATIAL DESIGN, RESTAURANTS ARE LOOKING TO TELL
A STORY ALONGSIDE THE MEALS THEY SERVE
THINK
Can we ever slow down in
the age of smartphones?
TASTE
The many takes on
the Onam ‘sadya’
STYLE
Fashion designers turn
home decorators
TRAVEL
Exploring Namibia’s
Skeleton Coast
02 SATURDAY, 7 SEPTEMBER 2024
NEW DELHI FIRST
NEW ON SCREENS Jeremy Saulnier returns with a tense action thriller, ‘Light Years’
AHEAD
shows Lucrecia Martel at work, and other titles to watch
APOLLO 13: SURVIVAL THE ON1Y ONE
Launched in April 1970, Apollo 13 was intended Sheng Wang (Liu Dong Qin) transfers to a new
to be the third craft to land on the moon. But high school, where Jiang Tian (Benjamin Tsang)
after an explosion on board, Nasa faced an is his classmate. They are thrown together in the
unprecedented challenge in getting the three same house when their parents decide to marry,
astronauts home safely. This documentary uses a and the two become stepbrothers. But their feel-
wealth of archival footage to recreate the tension ings for each other are complicated. Based on a
of the time. (Netflix) web novel, this weekly Taiwanese drama looks SOMETHING NEW
promising. (Netflix)
T
o mark its fifth anniver-
sary, Method is presenting
Portrait of Time, featuring
40 artists such as Aniruddh
Mehta, Aashim Tyagi, Gargi
Chandola, Kashin Patel, Meghna
Singh Patpatia, Myles, and Nir-
vair Rai. “For anyone who has
been to Method, the show will
conjure up feelings of reminis-
cence while also evoking some-
thing new,” reads the exhibition
note. The gallery had opened
five years ago with graphic and
digital artist Aniruddh Mehta’s
first solo exhibition, in which he
had chosen to showcase paint-
LIGHT YEARS ings instead of digital art. This
Argentina’s Lucrecia Martel is one of the fore- time, the artists have responded
most filmmakers of the modern age, with works to the idea of the “portrait”, and
like La Ciénaga (2001) and The Holy Girl (2004). taken it forward in their style.
Light Years is a 2017 feature-length documentary At Method, Kala Ghoda, Fort,
by Manuel Abramovich that observes Martel on and Mount Mary, Bandra West,
the sets of the period film Zama (2017). It’s an Mumbai, till 29 September.
absorbing portrait of an artist at work. (MUBI)
C
hef Rehman M., consid-
ered an expert on the cui-
CALL ME BAE sine of Hyderabad, is
In this new eight-episode series showcasing some signature
produced by Dharma Productions dishes at Kheer, the fine dining
for Amazon Prime, Ananya Panday restaurant at Roseate House
plays a spoilt heiress who makes Delhi. He has curated an a la carte
the huge mistake of getting caught menu, available on select days, to
cheating on her even wealthier give a glimpse of the traditional
husband. After her family cuts her fare of Hyderabad. The meal
off, she must make her own way, starts with a selection of soups,
sharing a flat in Mumbai and taking followed by smoked tandoori
a job at a TV news agency. Panday dishes like the taajdar khumb
has an amusing comic flightiness achari. The main course includes
but the situations she is put in the signature haleem and chippe
are trite and the writing weak. ka gosht. This showcase is part of
Created by Ishita Moitra, directed the ongoing efforts by Roseate
by Collin D’Cunha and co-starring Hotels and Resorts to highlight
Vir Das, Gurfateh Pirzada, India’s culinary diversity.
Muskkaan Jaferi, Mini Mathur, At Kheer, Roseate House,
Varun Sood and Niharika Lyra Aerocity, New Delhi, till 12 Sep-
Dutt. (Amazon Prime) tember, 7pm-11pm.
ON THE COVER: SIDDHARTH KERKAR AND VIPIN RAMAN, CO-FOUNDERS OF THE SPEAKEASY-STYLE BAR ROOM ONE IN GOA.
FIRST SATURDAY, 7 SEPTEMBER 2024
NEW DELHI 03
I
n June 1924, as Franz Kafka— crimes. Those with a morning as a monstrous
tubercular, obscure, and a month passing awareness of the bug against his wishes,
short of his 41st birthday—lay recent history of India Yeong-hye in Kang’s
dying in a sanatorium in Austria, and other Asian nations novel deliberately gives
he had no idea of the eventful aft- like Japan, China and up meat with the hope
erlife he’d go on to have. A century later, Korea, with the shadow of of turning into a tree. In
Kafka still haunts our imagination, authoritarian regimes fact, Kang later admit-
immortalised in the word “Kafkaesque”, looming over them, will ted her debt to Kafka in
liberally invoked across cultures and lan- understand the attraction an interview. Like Jap-
guages to describe the systemic absurdi- of Kafka in such societies. anese writer Haruki
ties, ironies, tragedies and cruelties that Even in the Middle East, Murakami, who
plague the human condition. Kafka’s writ- where Kafka is being rei- named one of his nov-
ing continues to inspire a burgeoning eco- magined as an icon of Jew- els after the writer
system of films, books and artwork, bol- ishness, his “work is part of (Kafka on the Shore, trans-
stering a bustling tourism industry in the Arab political lexicon,” historian Jens lated in 2005), Kafka’s sceptre casts a long
Prague, the city of his birth. Hanssen writes, “precisely because many shadow on Asian writers, including in
Kafka’s literary genius is, no doubt, at Born in 1883 in Prague, which was then Czech sculptor David Cerny’s their claims on him. Arabs feel they have experienced his fic- India, where his novels have been trans-
the centre of his enduring global appeal. a part of the Austro-Hungarian empire, kinetic work entitled ‘The Such contentious questions of belong- tion as reality.” lated into Hindi, Urdu, Bengali, Tamil and
But there is also a certain je ne sais quoi Kafka grew up speaking Czech, German Metamorphosis’, in Prague. ing and appropriation are not unfamiliar The key to Kafka’s persistence in the Malayalam, even adapted into Marathi for
about his mystique, an ineffable quality and Yiddish. He chose to write in German GETTY IMAGES to readers in the subcontinent, where Par- collective subconscious of the 21st century the stage.
that “makes Kafka Kafka”, as scholar Karo- as the language “carried more cultural tition forced writers such as Saadat Hasan is explained in part by Hanssen’s state- Personally, as a teenager dealing with
lina Watroba writes in her recent book, cachet than Czech…and gave Kafka access Manto and Qurratulain Hyder to choose ment. A hundred years after his death, complicated family situations, I found sol-
Metamorphoses: In Search of Franz Kafka. to a much bigger and more prestigious lit- sides and flatten their identities. Even Kafka’s fiction remains a conduit not only ace in Kafka’s fiction in high school. My
Starting from Oxford, where the bulk of erary market,” Watroba writes. Later in though cultural citizenship still remains a for the dysfunctional sociopolitical reali- introduction to his labyrinthine imagina-
Kafka’s papers are kept at the Bodleian life, Kafka went on to learn Yiddish and heated topic, thanks to translations and ties of our lives, but also for the inner truth tion was through The Metamorphosis, a
Library and where Watroba is a fellow of expressed a desire to move to Palestine, the world wide web, it is impossible for that so many of us are unaware of, or afraid book that propelled me to learn German,
All Souls College, travelling to Germany, though he was neither a militant Zionist one party to exert an exclusive claim on to access. As the 20-year-old Kafka once one that I still re-read every few years.
the Czech Republic and, curiously, Korea, nor interested in anchoring his identity in any author. said to a friend, “Some books seem like a With each reading, Gregor Samsa’s story
she undertakes a journey to trace the leg- his Jewishness alone. It was his friend and Kafka’s belief finds a wide As Watroba shows, Germany and the key to unfamiliar rooms in one’s own cas- keeps yielding fresh layers of meaning,
acy of the writer and decode his (often literary executor, Max Brod, who made Czech Republic may be the chief oppo- tle.” Literature, Kafka believed, was the insight and humour. But increasingly, it
peculiar) impact on the world, 100 years much more of Kafka’s religious origins resonance among his nents in the battle for Kafka’s legacy, fol- panacea for life’s pains. His writing is gives me a steely resilience to accept my
after his untimely passing. than the writer did during his lifetime. By readers, especially if they lowed by Israel, his influence runs across informed by a similar cathartic power. isolation from, and belonging to, the
Watroba begins her quest by grappling the time Kafka died, the Austro-Hunga- encounter him for the first much less expected terrains, like India, Indeed, Kafka’s belief finds a wide reso- world I live in. I’m sure I’m not alone in
with a knotty question that scholars of rian empire had fallen, and four different Japan, China and Korea. Even as Czech nance among his readers, especially if feeling this way.
Kafka continue to reckon with: Who does cultures—German, Austrian, Czech and
time through his book, ‘The political leaders like Antonín Novotný and they encounter him for the first time
Kafka belong to? Jewish—were soon at loggerheads over Metamorphosis’ Václav Havel tried to co-opt Kafka into through his best-known masterpiece, The Somak Ghoshal is a writer based in Delhi.
(left) Javelin throwers Ajeet Singh and Sundar Singh Gurjar; and shooter Avani Lekhara.
A
s a youngster, running was Deep- the 20-medal mark in Paris, winning Kumar won a silver.
thi Jeevanji’s comfort zone. The more golds than the total tally in Rio. It was not the only event where more
track was where she could be her-
self, away from the judging, taunting peo-
Also building on their success were
shooter Avani Lekhara and javelin star
than one Indian finished in the top 3.
Lekhara shared the podium with Mona 6th Sep - 15th Sep, 2024
ple around her. On 3 September, the Sumit Antil. Having won India’s first gold Agarwal (bronze) in 10m air rifle, Ajeet
woman from Telangana bagged bronze in at Tokyo three years ago, Lekhara, 22, did Singh and Sundar Singh Gurjar won the
the women’s 400m T20 class at the Paris a repeat in Paris, winning the women’s silver and bronze, respectively, in the
Paralympics to become the first intellec- 10m air rifle shooting standing SH1 title. men’s javelin throw F46, and Thulasima-
tually impaired Indian to bag a medal at In the final, she shot a Games record score thi Murugesan and Manisha Ramadass
the event. Although she admitted that her of 249.7, becoming the first Indian to won silver and bronze, respectively, in
body was fatigued by travel, the 20-year- defend a Paralympic title. women’s singles SU5 badminton. Dhar-
old clocked 55.82 seconds. It was another The wheelchair-bound shooter, who ambir and Pranav Soorma gave India a 1-2
achievement for Jeevanji, the world hails from Jaipur, underwent surgery in finish in men’s club throw. India’s star
champion in her category. March but was still at her best in Paris. archer Sheetal Devi, 17, lost in the pre-
“During a normal run too, Deepthi’s Antil, with a prosthetic leg, shrugged quarterfinals in the women’s individual
running style, take-off and finishing was off a back niggle to defend this title in the compound event but joined Rakesh
almost perfect,” her PE teacher Biyani F64 category (athletes with lower limb Kumar to clinch bronze in the mixed team
Venkateshwarlu, who first spotted her tal- impairments). He was quick off the event.
ent, was quoted as saying by The Indian blocks. On his first throw of 69.11m, he “We are comfortable on the big stage,”
Express. “The only problem we faced was broke the record of 68.55m which he had Sachin Khilari said of India’s Paris Para-
that she could not concentrate on running set in Tokyo. On the second, he hurled the lympics campaign after winning silver in
in her lane.” spear to an unbeatable 70.59m. men’s shot put F46 on Wednesday. “Indi-
Her coaches, Venkateshwarlu and N. Nitesh Kumar, Dharambir and Harvin- ans are warriors.”
Ramesh of Sports Authority of India, have der Singh added to the gold rush. Kumar Deepti Patwardhan is a sportswriter
helped her overcome the cognitive chal- made sure the men’s singles SL3 badmin- based in Mumbai.
04 SATURDAY, 7 SEPTEMBER 2024
NEW DELHI HOW TO LOUNGE
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I
t’s less dirty than it sounds.
“Rawdogging” is a “new” concept of doing things without digital buff-
ers— which means a generation that hasn’t stood in line without Instagram
in their hands has now decided to board airplane flights without screens,
books or any distractions. Originally slang for unprotected sex, the term has
been repurposed—by TikTok influencers and culture blogs—to mean experi-
encing things without the crutches of modern tech. In essence, rawdogging is
being considered a minimalist manifesto for a screen-weary generation.
Mostly by young men.
This revolution began in an unlikely place. In season 9, episode 12 of Sein-
HYPNOTICA feld (Netflix), Elaine Benes (Julia Louis-Dreyfus) sits in a cramped airplane
Akris Asagao Striped seat, surrounded by the in-flight symphony of engines, co-passengers, the
Silk Wool Blend Knit clinking of drink carts. She’s boarded a long-haul flight with an arsenal of dis-
Midi Dress tractions—a book, a magazine, perhaps even a crossword. She glances at her
Sleeveless midi dress in boyfriend David Puddy (Patrick Warburton) only to see that he’s content to
all over Asagao jacquard watch the back of the seat in front of him as if it were a painting in a gallery.
SILK ROOT stripes. Available on “I’m just sitting here,” he says, calmly. No book, no magazine, no head-
us.akris.com; ₹1,67,123. phones—nothing but the blank void of his untroubled mind.
Lia Trousers
Elaine is aghast. The very thought of being tethered to someone who could
High-waist “Lia” trousers,
choose to “just sit”, devoid of curiosity or the need for stimulation, gnaws at
from the Ekaya X 431-88
her core. Her eyes widen in disbelief, scanning Puddy to find a crack in his
collaboration, made from
placid exterior. This creature of mindless Zen is too far removed from her
handloom silk. Paired
own tightly wound spring of neuroses. It’s a dealbreaker of cosmic propor-
here with the “Andy”
tions. She breaks up with him instantly, despite many hours of flying ahead.
blazer. Available on
The rawdogging trend would mortify Elaine. No books, no movies, no
ekaya.in.com; ₹38,000.
music—just blank, unadorned sitting. The essence of her horror, captured in
that airplane seat, is manifesting on flights everywhere: Gen Z men opting to
“just sit,” as if the idea of occupying their minds is an affront. This isn’t mere
boredom; it’s a declaration of non-participation.
The Atlantic has taken notice, examining what this says about the modern
man. It’s been called a form of passive defiance, a middle finger to the hyper-
DIVE IN connectivity of today’s world. The New York Times argues that it’s a manifesta-
Louis Vuitton Nauti- tion of stoicism—a way for men to reclaim a sense of quiet, detached from the
cal Stripes Swimsuit noise of social media and streaming platforms. Others see it as a troubling
One-piece swimsuit retreat into self-imposed solitude, a shrugging off of the very things that make
cut from comfortable us curious, engaged, and connected.
swimwear jersey Is this the modern man, one who
exudes a nautical feel TAG ALONG finds solace in staring ahead,
with its graphic play of Multicolour Horse unburdened by the need for
stripes. Available on Hair Leather Frame input? With Puddy as a patron STREAMING TIP
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saint, he strives toward an OF THE WEEK
oasis of apathy, a minimalist Gen Z behaviour is satirised very
means business. Avail- retreating from the barrage sharply in the Australian comedy
Compiled by able on thombrowne of content. Why Are You Like This (Netflix) where
Mahalakshmi Prabhakaran .com; ₹6,12,285. Meanwhile, studies have a group of young friends weaponise
shown that speaking about their woke-ness purely to win
oneself in the third person, a arguments. Hilarious and well-
form of “distanced self-talk,” observed, it shows that kids will
can actually reduce stress and stay just as messy—albeit
increase empathy. Research in different ways.
S
he takes a pressure cooker, chucks in and made decisions that were less impulsive and more empathetic. It’s like
meat, oil, onions, tomatoes, water, spices coaching oneself from the sidelines—offering a cooler, calmer perspective.
and closes the lid. In the meantime, she This would remind Seinfeld viewers of the character George Costanza, who
chops up a cauliflower to add to the meat. occasionally stumbles into the third-person. His exclamations of “George is
While it’s cooking, she makes rotis. When it’s getting upset!” or “George likes his chicken spicy!”, however, are less about
all done, she ladles the food on a plate for self-soothing and more about self-aggrandisement, a comic spectacle of nar-
herself. This is Berkshire, UK, based Nadia cissism. If studies suggest third-person self-talk can foster empathy, George’s
Saleem’s YouTube channel, Pulwasha Cooks usage demonstrates the opposite—a loudspeaker for his neuroses and petty
Official, which has 596,000 followers (her grievances. It’s not introspection; it’s a Costanza-style proclamation, a clumsy
Insta account has one million followers). She attempt at self-validation that often leaves him more isolated and exasperated
mostly speaks in Punjabi, cooks desi food, and than before.
is dressed in suits and dupattas. The cooking Why are we turning into the characters we laughed at on Seinfeld?
is simple, but what makes it interesting is her The philosopher Jean-Paul Sartre said, “Hell is other people.” Seinfeld, cre-
FOR THE LOVE OF SCIENCE earthiness and how she weaves everyday life, BEYOND TIME’S BOUNDS ated 35 years ago, trained an absurdist lens on the peculiarities of human
O M
ver the past couple of years, as memories of home and food together. The y video game experience is behaviour, capturing its neuroses, trivialities, and contradictions. Today, this
my love for physics has grown, best part: when she says “sutt do”, or chuck it limited to Mario Kart, but seems astonishingly prescient. In a world where “rawdogging” flights is
I’ve taken to devouring all I in (into the pot). —Nipa Charagi Rusty Lake’s The Past Within becoming a cultural movement and where third-person self-talk is touted as a
can on the subject, be it books, docu- piqued my curiosity. The story is rea- psychological balm, Seinfeld seems not only to have depicted these quirks but
mentaries, podcasts or YouTube vid- sonably cohesive: scientist Albert Van- anticipated them.
eos. I am especially fascinated by cos- RUN LOLA RUN derboom is dead, but has devised a Elaine’s horror at Puddy’s vacant stare becomes a commentary on the des-
I
mology and quantum theory, and I’ve t was the bright sunflower colour of this mind-bending plan to resurrect him- perate need for disengagement. While George’s third-person outbursts—his
found that there is no better guide to pair that stopped me in my tracks during a self through his daughter Rose. In this “George is getting upset!”—reflect a desperate struggle for identity and rele-
such mind-bending subjects than the marathon scroll session on Instagram. two-player game, one player takes on vance, akin to the self-validation sought through social media likes and
astrophysicist Neil deGrasse Tyson. Getting up for a morning walk would become the past, the other the future, and we retweets.
Although he is renowned for his popu- way easier if only I had yellow shoes, I must communicate to solve each puz- I believe Seinfeld, through its own celebration of selfish protagonists, is
lar science books, I’m a fan of his pod- convinced myself as I clicked “buy”. Happily, zle in the game. A friend and I played shaping the self-loving culture ahead of it. The show made it okay to mock
cast/YouTube video channel, Star the Lola walking shoes from Happenstance together over a few days, each on our and label people (“low-talker,” “sidler,” “spongeworthy”) but we are coming
Talk. In it—alongside his brilliantly are not just supremely easy on the eyes own phones, solving clever pattern- to an age where people, finding their tribes and subReddits, are willingly
hilarious everyman foil, the comedian (available in a staggering 40 colours) but also matching puzzles and operating a choosing those labels as identifiers. This may also be cultural rebellion: the
Chuck Nice—Tyson explores such super comfy, with soft knit fabric uppers and mysterious cubical machine that applauding behaviour that the Seinfeld gang mocked, Gen Z and Gen Alpha
diverse subjects as String Theory or the brand’s trademark fluffium sole, which is bridges the past and the future. It’s might be turning the joke around—on those of us who laughed at whoever felt
the visual geometry of watches, with neither too flat nor too chunky. It’s a flexible like a digital escape room, where we weird to them.
great wit, erudition and clarity. Star pair in every way—not just physically (you can unravelled mysteries and messages We must choose our own oasis—which, for me, is at least two novels, sev-
Talk’s guests are stars too, whether actually wring it in your hands, as the eye- Albert had left behind. The game’s eral classic rock playlists and half-a-dozen episodes of TV, for every flight.
they be scientists like Brian Greene or catching ad shows) but also something you mildly disturbing atmosphere kept us Younger co-passengers are welcome to their aisle-seat microdosing of Vipas-
pop culture people like George Takei can wear on a walk, to a lunch/coffee meeting, on the edge, but sharing the experi- sana. Serenity now.
or Christopher Nolan. Can’t get or even a casual dinner with a cute dress. ence made it memorable. Raja Sen is a screenwriter and critic. He has co-written Chup, a film about
enough of it! —Bibek Bhattacharya —Shrabonti Bagchi — Ghazal Chengappa killing critics, and is now creating an absurd comedy series. He posts @rajasen.
THINK SATURDAY, 7 SEPTEMBER 2024
NEW DELHI 05
A
t a time when it is fashiona- “The Soviets had given a grand welcome
ble in some circles to assert to Nehru, and the understanding was that
that India’s “real inde- the Indian welcome would have to match
pendence” came in 2014, Nehru’s First Recruits: that of Moscow,” he writes. The job fell on
and everything that took The Diplomats Who Mirza Rashid Ali Baig, the ministry’s pro-
place before that was “slavery”, Kallol Built Independent tocol officer, who got his wife to help him
Bhattacherjee has done a great service. India’s Foreign Policy: plan the extravaganza. The lengths to
His book, Nehru’s First Recruits: The Dip- By Kallol Bhattacherjee, which Baig went to put up the grand wel-
lomats Who Built Independent India’s For- HarperCollins India, come tells us that the G20 hoopla that we
eign Policy, is a reminder that India’s for- 368 pages, ₹699. all recently witnessed in Delhi also follows
eign policy did not take shape in the in a long tradition of extravagance that
hands of the current external affairs min- while building relationships abroad. began seven decades ago.
istry, but has been built on a long legacy Despite the many internal challenges, Many of the first recruits were men and
of a storied foreign service founded in India’s foreign service was in place and all women with a variety of experiences both
1948 by India’s first Prime Minister Jawa- the posts filled by 1958. The decision to within and outside government. Cyril
harlal Nehru. form the IFS to look after India’s external John Stracey was one of them—an Anglo-
As the title suggests, Bhattacherjee’s interests at home and abroad was made in Indian officer who joined the British
book is about India’s very first diplomats, October 1946, a month after an interim Indian Army in 1938, he switched sides to
the men and women recruited to the government headed by Nehru was formed join Subhas Chandra Bose’s Indian
Indian Foreign Service (IFS) in the first in Delhi as Britain prepared for India’s National Army (INA) in 1942 and fought
dozen years after independence who independence. for independence as a senior INA officer
helped shaped an independent foreign Work on foreign policy began almost till 1944. Stracey then designed and super-
policy for a country that had been a British immediately. Chandra Shekar Jha, a vised the construction of a memorial to
colony for nearly two centuries. Through young Indian Civil Service officer, was Subhas Chandra Bose in 1945 in Singa-
their stories, the author—a journalist who sent by the interim government in 1946 as pore to deliver a message to victorious
has been reporting on India’s foreign pol- part of a fact-finding mission to look into British forces who were expected to land
icy for more than two decades—has woven and report on the tensions between Indian on the tiny island after the Japanese sur-
a narrative of India’s early and expansive communities and Africans in East Africa as render. (The British would later blow up
engagement with the world even as its Soviet Prime Minister Nikita Khrushchev with Jawaharlal Nehru and Rajendra Prasad in Delhi in 1960. GETTY IMAGES well as suggest solutions. This mission’s the monument.) Stracey then joined the
leaders were preoccupied with steering a report was one of the first submitted to IFS in 1948 and went on to serve in the
big ship—large, poor, diverse and demo- than Harivansh Rai Bachchan, hired as a diately after. The “complexity” of the lit- Nehru, and was instrumental in the gov- Indian missions in Bonn, Paris and Anta-
cratic—through the choppy waters of translator by Nehru, who coined the Hindi erary Hindi in Bachchan’s translation ernment of independent India making a nanarivo, eventually retiring as ambassa-
communalism, sectarianism and wars name for the external affairs ministry— had Nehru “fuming” as it made the text decision to announce scholarships for dor to Finland. Other former INA soldiers
with various neighbours. Videsh Mantralaya. Bachchan and Nehru “obscure”. With hours to go before the African students, a policy that exists to this who were recruited into the first batch of
Bhattacherjee makes the many charac- were friends from their days in Allahabad, speech was to be delivered, Nehru sum- day. This, in turn, laid the foundation for the Indian foreign service include Abid
ters in the book, all of whom had impor- but they differed over Nehru’s “common moned Bachchan and pointed out that academic science and technology co-op- Hasan Safrani, K.M. Kannampilly and N.
tant roles in the early days of the shaping form of language”—a middle ground Hussain “won’t even be able to pro- eration with African countries that gained Raghavan. India’s first woman career dip-
of Indian diplomacy, leap out of the pages between Hindi and Urdu. nounce some of the words”. When independence soon after India. lomat was C.B. Muthamma, who joined
with their colourful back stories: a jour- Language was often a sticking point in Bachchan responded with the quip that Jha was joint secretary in the ministry of the service in 1949.
nalist working as foreign correspondent the early days of nation-building, and the speech should have been translated external affairs from 1954-57, during Bhattacharjee builds a hold-all narrative
in Indonesia; Mohammed Ali Jinnah’s while rashtra bhasha (national language) into Urdu instead, “Nehru exploded”. which he witnessed the “creative phase” of Indian diplomacy, world history and
aide who watched horrified as the idea of debates may not seem pertinent to diplo- “There is enough trouble in this coun- of Nehru’s diplomacy. At the pathbreak- geopolitics in this book composed of many
Pakistan took shape in his boss’s mind and macy, Bhattacherjee brings these inci- try. Even if we get it translated into ing Bandung Conference in Indonesia in nuggets about the early days of the Indian
in his speeches and decided to quit; the dents in to illustrate the many challenges Urdu, we’d have to call it Hindi—and 1955 (the Asia-Africa conference when 29 foreign service. The writer’s research, and
ruler of a princely state who decided to that came in the way of building a diplo- what’s the difference between the two Bhattacherjee makes the governments of Asian and African nations indeed the brilliant idea of writing on this
give his own statement on the Vietnam matic corps that was to represent India to anyway?” Nehru said. gathered to discuss economic develop- particular subject, deserved a far better
war as the consul in south Vietnam; an the world. Politics both at home and away play out many characters in the book, ment and decolonisation), Jha sat behind editor who could have brought some
executive of the Imperial Tobacco Com- He recounts a time when a translation in this book as a young country grappled all of whom had important Nehru and watched him on the last day as method to the chaos of information that he
pany, whose family owned several sugar of a speech in English by then President with issues of varying importance, and roles in the early days of the he took notes. At the end of the proceed- serves up in no particular order.
mills, and who died by suicide while S. Radhakrishnan to a joint session of Bhattacherjee’s telling brings perspective ings, Nehru showed him what he was jot-
posted in Vienna. Parliament had to be read out in Hindi to the many compunctions and compro-
shaping of Indian diplomacy, ting down—the time that each of the 19 Nirupama Subramanian is an inde-
Then there was the poet, none other by Vice-President Zakir Hussain imme- mises of keeping the home base happy leap out of the pages speakers had taken, totalling 102 minutes. pendent journalist.
06 SATURDAY, 7 SEPTEMBER 2024
NEW DELHI TASTE
A world of influences
on the Onam ‘sadya’
The ‘sadya’ has
several regional
variations, due to
influences brought in
by traders, varying
weather and more
Orange wine from Georgia. ALEXANDRA TORRO/UNSPLASH
T
Ernakulam, among others. Alappuzha, he simplest way to categorise wines is through colour. There’s red, white,
Pathanamthitta, Kollam, and Trivandrum rosé—and orange wines have recently entered India. Last month, Mumbai-
are districts of southern Kerala, also based retailer Wine Park introduced them, and they come in varying shades
known as the Travancore region. The Onam ‘sadya’ at Kappa Chakka Kandhari; and (below) rice pudding or ‘ari payasam’. of sunset.
A sadya will have the banana leaf filled For now, they are selling two different orange wines from the Italian producer
with pazham (ripe bananas), ethakka drum.” He explains that in his conversa- utes this difference in consistency to the Radikon: Slatnik Bianco made with a Chardonnay blend, and Sivi Bianco made
upperi (nendran banana chips), sharkara tions with Unnikrishnan Namboodiri, an influence of the Dutch and Portuguese, with Italy’s most popular white grape, Pinot Grigio. These are premium bottles
varatti (jaggery-coated banana chips), a Ayurveda medical practitioner, temple who preferred to have stew-like dishes as priced at ₹8,495 each. Funky on the palate, the flavour and aroma of these wines
chammanthi (a dry coconut chutney), inji priest and lead sadya chef for KCK’s a meal, leading to its evolution this way. come closest to home-brewed rice beer from the North-East.
puli (ginger relish) and a range of pickles. menus this year, Mathew learnt that drier Another interesting influence, also The interesting aspect about them is they are made with grapes, like Sauvignon
Classic sadya dishes include parippu (len- variations tend to have a longer shelf life, attributed to traders, is Trivandrum’s Blanc, Chardonnay and Chenin Blanc, that go into refreshing whites too. The dif-
tils), mathanga erissery (pumpkin gravy), considering the heat of the northern Ker- inclusion of boli and pal payasam in the ference is in the production process. Orange wines use the same grapes but with
olan (ash gourd gravy), pineapple kichadi ala regions, and also give a good bite to the sadya. Boli, similar to Maharashtra’s puran skin, whereas white wines need the pulp. The skin contact (to use a wine term)
(sweet and sour dish), avial (seasonal veg- vegetables. “Additionally, the souring Over the centuries, Kerala has poli and Karnataka’s holige or obattu, is a imparts a pale orange colour and slightly thicker texture. The fermentation
etables in coconut and yogurt), kalan (raw agents differ. There’s yogurt in the north sweet flatbread stuffed with chana dal involves natural yeasts, which explains the funky flavour.
bananas and coconut), thoran (stir-fried and central regions, but not in the south. welcomed people from (Bengal gram). It’s not an easy, sipping drink and either you will like it or hate it. Nevertheless,
vegetables with coconut), kootu curry Tamarind, and in some places even bilimbi various places. Trivandrum “Eating boli with pal payasam poured it’s a trendy drink as the preference for naturally fermented wines is on the rise.
(yam-based), sambar, rasam, local matta (tree sorrel) is used,” he says. was a major seaport, and over it is seen only in Trivandrum. The Biodynamic and natural wines are having a moment, points out Kevin Rodrigues,
rice and seasoned buttermilk. The meal Last year, the culinary students of the tradition of ending a meal with a sweet the award-winning sommelier of the restaurant Indian Accent in Delhi and Mum-
usually ends with various kinds of pay- department of hotel management, Christ
there were Dutch and was introduced by the East India Com- bai. Orange wines are not a modern phenomena, they have been around for cen-
asam—like pal (milk), ada pradhaman College, Bengaluru, with the guidance of Portuguese settlers pany. Dry sweets travelled well from turies, and originated in Georgia. Rodrigues plans to include them in pairings,
(made with rice flakes, coconut milk, and chef instructor Jonathan Bhavyan Gnan- England to India, popularising the con- for diners to discover something new. Their savoury flavour underscored with
jaggery), pazham pradhaman (banana and asekhar, set out an elaborate sadya for din- cept. As British control over key ports hints of umami is unlike any other wine and complement spicy Indian food. “Both
jaggery) and more. ers, as part of a culinary showcase. Gnan- tightened, Indian traders have that intensity,” he notes.
“In central Kerala, like Thrissur, there’s asekhar unpacks several influences on began using southern Indian There’s another contemporary Indian restaurant that has been experimenting
meat on the menu, but, in places like Kan- the sadya. ports, which were less with orange wines much before it was imported. Masque along with Nashik-based
nur in the north, a fish fry is added. In Koz- Over the centuries, Kerala has restricted. This led to the Vallonne Vineyards launched an orange wine named Kustavaan in 2022. It isn’t
hikode, I have even seen chicken or fish welcomed people from various introduction of local dry available to buy and is only served at Masque. “We introduced it to fill a gap. Diners
curries included,” says Ummi Abdulla, places, India and abroad, sweets with a long shelf life, and Indians living abroad who moved back to the city after the pandemic asked
author of A Kitchen Full of Stories (2018), driven largely by trade. Tri- like boli, to Trivandrum. Add- for them,” says sommelier Hridhay Mehra of Masque. They made 300 bottles, ran
the first book on Mappila cuisine. vandrum was a major sea- ing pal payasam to it was a out of them in 15 months and a fresh batch is underway.
There are climatic reasons to why sadya port, and besides seeing way of staying true to one’s Wines like these are niche, and are typically discovered through restaurants
dishes are cooked in certain ways. Accord- Dutch and Portuguese set- roots while imbibing a new with an expert sommelier taking you through the tasting. “The way I pushed it
ing to chef Regi Mathew, co-owner Kappa tlers, it had traders from culinary tradition,” was in a flight of wines called homegrown favourites. It has six Indian wines which
Chakka Kandhari (KCK; Bengaluru and the east and west of India explains Gnanasekhar. go well with the food. I’d add the orange wine to get people to experiment and try
Chennai), “The kalan in the southern dock here before heading Every person making the it out,” says Mehra. According to Rodrigues, he stands next to the guests who are
parts is like a moru (yogurt) curry, whereas to the Gulf. sadya also brings in their tasting the wine for the first time lest their first impression is of being served a bad
in the central region of Thrissur, the same The parippu in north influences, family recipes, wine. For now, it’s a highly experimental wine.
recipe becomes kurukku kalan, a drier Kerala is thick, dry, and and more. What stands true, All orange wines don’t have the blue cheese-like fermented taste though. There
version. Similarly, the Thrissur sadya has made with toor dal (pigeon is that in all its avatars, it is are few that are barrel-aged for extended periods, which mellows the flavour.
the erissery in a thick, dry consistency, pea), whereas in the Travan- truly a feast fit for a king. Rodrigues suggests orange wines from Jura region of France where they are aged
whereas, in Trivandrum, it’s a semi-gravy. core region in the south, it is a for six years and more and acquire an almost sherry-like characteristic. For those
The Thrissur avial is drier compared to runny gravy made of moong dal Ruth Dsouza Prabhu is a features curious to know more, he suggests the excellent wine book Amber Revolution by
that of central Travancore or Trivan- (green gram). Gnanasekhar attrib- journalist based in Bengaluru. orange wine expert Simon J. Woolf.
ISTOCKPHOTO
and hydrolysate refer to different pro- available in the Indian market. WHEY PROTEIN AND OAT Smear with a few drops of oil. Smear
cessing levels of whey protein, catering For those on a typical Indian vege- PANCAKES using a kitchen tissue so that there are
DOUBLE to various nutritional goals, lactose tol-
erance levels and budgets. There are
tarian diet, which tends to be carb-
heavy, whey protein can be a
Serves 2 no oil droplets on the pan. Using a small
ladle (around quarter cup), pour three-
TESTED also whey protein blends, which are a game-changer. One scoop Ingredients four pancakes at one time, depending
mix of these variants. Understanding offers around 25g of protein Half cup rolled oats on the size of the pan, and cook on
N A N D I TA these basics can help make informed for under 130 calories, mak- Half tsp baking powder medium heat until bubbles appear
IYER choices without undue fear. ing it an excellent option Half tsp cinnamon powder around the circumference. Flip and
One of the biggest myths around for those looking to man- 2 tsp cocoa powder (unsweet- cook on low heat for another minute or
protein supplements is that they cause age weight. It’s not just for ened) so. Make the next batch similarly.
A
couple of years ago, a friend kidney damage. However, a 2016 study heavy-lifting gym bros, 1 scoop chocolate or vanilla Stack up on a plate and serve with
called me concerned about her published in The Journal of Nutrition women who struggle to whey protein isolate whipped cream, maple syrup, honey or
16-year-old son, who was keen and Metabolism found that athletes meet their protein needs 1 egg peanut butter.
on taking whey protein to supplement who consumed a high-protein diet— can also benefit. And to clar- 1 tbsp coconut oil (or any
his diet as he was into athletics and a up to 3.3g per kilogram of body weight ify a common misconception: other oil) 2-MINUTE HIGH PROTEIN BREAK-
regular at the gym. She wanted me to daily for a year—experienced no nega- consuming protein supple- 2 tsp sugar (optional) FAST BOWL
convince him to focus on whole foods tive effects on kidney or liver function, ments will not make women Up to 3 tbsp milk Serves 1
like nuts, sattu (flour made from fried lipid profiles, or body fat percentage. muscular or masculine. 1 tsp oil
gram), and eggs instead of whey protein That said, individuals with pre-exist- Back to whether teenagers Ingredients
supplements. While her emphasis on ing kidney diseases should consult can have protein supple- Method 100g Greek yogurt or skyr
whole foods was spot on, I sensed an their doctor before taking protein sup- ments—food is the best way In a mixer jar, Half scoop whey protein isolate
underlying fear of whey protein. plements. to get protein. It is important blend oats to get a Handful of frozen berries or half cup
There’s a popular meme that cap- The more significant concern with for adolescents, in their peak growth (above) powder. To this, any seasonal fruit or 1 small banana
tures this sentiment well: “Desi moms whey protein today is the rapidly grow- phase, to get enough calories with Whey add baking sliced
look at whey protein with the same sus- ing market flooded with numerous good balance of macro and micro protein powder, cinna- 2-3 tbsp oats-based granola
picion they reserve for drugs.” Ironi- brands, not all of which are trustworthy. nutrients in their diet. This is best pancakes; and mon powder, 1-2 tsp mixed seeds
cally, even alcohol seems to get a free Issues such as counterfeit products and achieved if they eat three-four com- breakfast bowl. cocoa powder and
pass in many households, but protein the addition of harmful substances like plete meals in a day. If long school whey protein. Use the Method
supplements are often viewed as dan- anabolic steroids, liver-damaging hours and busy schedules prevent to complement a pulse function a couple of Combine the yogurt and whey protein
gerous. Many medical professionals also herbs, or heavy metals can pose serious them from achieving their nutritional healthy, balanced diet, times so it is well combined. in a bowl. Top with fruit of choice, gran-
discourage protein supplements with- health risks. My recommendation is to goals, there is no harm in getting addi- not replace it. Remove this to a bowl. ola and mixed seeds.
out adequate reason. purchase whey protein directly from tional protein from whey or other A quick tip on how to consume In a small bowl, whisk together egg, Double Tested is a fortnightly column
Whey is the liquid that remains after the brand’s official website rather than plant-based protein supplements. Do whey—for post-gym recovery, mix coconut oil and sugar to a smooth mix- on vegetarian cooking, highlighting a
making paneer from milk. The protein through general e-commerce plat- talk to a doctor who is well versed in whey protein with water for quick ture. Add the wet ingredients to the dry single ingredient prepared two ways.
extracted from this liquid is what we call forms. Additionally, check out a fantas- nutritional sciences to recommend a absorption of amino acids. For a general ingredients and combine with a fork or Nandita Iyer’s latest book is The Great
whey protein. If you don’t fear milk, tic resource called the “Citizens Protein trusted variant for your teen. increase in daily protein intake, get cre- whisk. Use milk 1 tablespoon at a time to Indian Thali—Seasonal Vegetarian
there should be no reason to fear whey Project”, which analyses the quality and Remember, whey protein is called a ative with using unflavoured and fla- get the desired pouring consistency. Wholesomeness (Roli Books). She posts
protein. Terms like concentrate, isolate, safety of popular protein supplements “supplement” for a reason—it’s meant voured whey in a variety of recipes. Heat a cast iron or non-stick pan. @saffrontrail on X and Instagram.
STYLE SATURDAY, 7 SEPTEMBER 2024
NEW DELHI 07
Does the
salmon sperm
facial work?
The procedure, which includes a jab derived
from fish semen, is said to help skin regenerate
COURTESY INSTAGRAM
Fashion designers turn Kim Kardashian has tried salmon sperm treatment, which can be offered as an
HOME DECORATORS
injectable, via micro-needling or as a facial.
T
rust Kim Kardashian to get a facial that grabs headlines. In a recent episode
of The Kadarshians, the American reality TV star and entrepreneur said that
As consumers get she had tried a salmon sperm facial. The announcement surprised millions
of her followers the same way when she, a decade ago, had revealed that she had
conscious about their been getting vampire facials, in which platelet-rich plasma (PRP) derived from
one’s blood is injected into the skin.
living space, fashion Since then, vampire facials have become a common offering at skin clinics
across the world. And salmon sperm facial services seem to be following the trend.
designers are finding In July, Geetika Mittal Gupta, founder and cosmetologist, introduced salmon
an opportunity in semen or salmon DNA facials at her nationwide clinic chain ISAAC Luxe, because
several patients were looking for alternatives to dermal fillers and asked for
home furnishing salmon sperm facials. Dermal fillers are often derived from synthetic materials
and can give that unnatural, puffy “filler face”. Salmon DNA facials, on the other
hand, are said to work as a natural bio stimulator, encouraging the skin to produce
Pooja Singh collagen to naturally fill facial depressions.
[email protected] Chains like The Ageless Clinic in Mumbai and Maya Medi Spa, which has clinics
in India and the US, have been offering this treatment for skin regeneration for
hen Anju Modi over seven months. If delivered via normal dermapen (a micro-needling tool),
Passing the There is something about restaurants, cafés and bars that makes d
factors, like the interiors and music, helps build
W
landscape where the focus is restaurant helmed by chef lamp, which might hinder the flow of hat is it that makes a lunches, or is it a neighbourhood where
on building cohesive narra- Gresham Fernandes, also taps service. But I knew it was going to restaurant a wel- retired folks go to grab a beer? This knowl-
tives and transformative into the sentiment of Bandra become a part of their identity,” he coming space? To edge is not limited to food; it is also applied
experiences. with graffiti-splashed walls, and says. What Kerkar means by creating answer the ques- to the choice of lamps on walls, washrooms
Vipin Raman, the restaura- “missing cats in Bandra” post- “problems” is that an architect will tion, try this: Pick decor and the playlist. All of this contrib-
teur behind Jamming Goat in ers. Napkins printed with a have a cookie cutter way of working, one restaurant each for morning, after- utes to the nebulous concept of the vibe.
Goa, Bengaluru and Hydera- kiss-shaped motif have become whereas when it comes to an artist, noon and night. The menu of the places The right vibe keeps patrons relaxed, stay-
bad and Room One, Goa, as its most identifiable they’re not so bothered by the seman- you choose will differ but there will be one ing longer and ordering more food.
well as the founder of creative mnemonic. “They (the restau- tics or logic. He explains how he has thing in common—they create an enjoya- Restaurants are increasingly paying
and branding studio Seen Stu- rant) have an identity,” Raman used the back-of-the bar display (tradi- ble experience, something you return for. more attention to ambience. The National
dio, says the focus on interiors observes, referring to the total- tionally used to showcase liquor bot- To create that vibe, the starting point is Restaurant Association of India’s 2024
and the “right vibe” is all about ity of logo, tone and experien- tles) at Soka and Room One to exhibit understanding human behaviour. It’s report points out the interiors of many eat-
differentiation. “Everybody has ces a brand offers. art instead. informed by the location and crowd—is it ing places “deteriorated” due to extended
a social media page. Everybody “What is there beyond food Located inside a 108-year-old Indo- populated with singles looking for meet- closures during the pandemic, and most
has great food, good drinks, and drinks for the customer to Portuguese bungalow in Saligao, Goa, cutes, is it a corporate hub for power had a revamp after 2021. The need for
great interiors. How do you take back? Something that restaurant Second House makes simi-
stand out?” he asks. they will not forget. You have lar use of art. Conceptualised by archi-
The idea is to home in on a to have multiple things going tect Ayaz Basrai of Busride Design Stu-
distinguishing characteristic on for them to talk about,” he dio, the space commemorates the artis-
that the restaurant can own in adds. This explains, in part, tic history of Saligao, home of famed
the space, menu and communi- some of the outrageous things creatives like artist F.N. Souza, tiatrist
cations. It could be something at bars like the Goan speak- C. Alvares and Konkani singer Lorna
tangible—like the logo and inte- easy Room One, which has a Cordeiro. The diner has AI-generated
riors—or more nebulous, such mock-up of what seems to be artworks indexing local culture, and
as ethos. In Zapata’s case, the The food at LCR Gymkhana in Pune. a chimera, christened Fluffy, as their oddball installations such as a stack of
answer lay in reiterating the brand’s mascot, hanging from the ceiling. vintage TV and radio sets, lending the
commitment to “Arakunomics”, or jects and a Mumbai dining spot that’s “It is a (cross between a) crocodile-di- space a gallery-esque drift.
ensuring “profits for farmers and qual- popping on weekends, he has made a nosaur-turtle,” Raman clarifies, adding Be it cuisine-agnostic menus, bar
ity for consumers through regenera- departure from his signature minimal- that the team has made a replica of programmes championing ingredi-
tive agriculture”, while simultane- ism. “Neuma resembles a member’s Fluffy for out-of-town takeovers and ents, or absurd and irreverent spatial
ously focusing on the wellbeing of the club, where each room provides a dif- events. “For us, brand language is very design, this kind of left-of-centre
Adivasi farmer-community in the ferent experience and the worlds important. And so is consumer experi- thinking is clearly becoming more
Araku Valley in Andhra Pradesh. This within keep changing,” he explains, ence. That’s why when we do a take- commonplace within Indian hospital-
vision comes to life in elements such as adding that objects from various parts over, we’re not saying that we’re com- ity. Craft coffee and chocolate brand
a 3D wall render modelled on the ter- of the country have been used to ele- ing to sell drinks. We’re coming there Subko embodies this rules-defying
roir of individual estates and bamboo vate the restaurant’s charm. to sell an experience. So, wherever we spirit in their design language and in
chandeliers crafted by artisans from Using memorabilia to add character go, we take Fluffy along. And it makes their deliberate choice of nondescript
the North-East. to an establishment isn’t new. It’s the people remember the brand.” locations in Bandra alleys.
On the opposite end is Mumbai- same as that lone photo frame at a café, Like Fluffy, Bengaluru’s Soka, an “When searching for venues in the
based fine-dine restaurant Masque. posters at a brewery or accolades col- experimental bar, has a captivating F&B space, it is natural to be using met-
Owned by Aditi Dugar (who is also one lected over the years displayed on the centrepiece. Conceptualised by Raman rics such as where the footfall lies. We
of the consultants for Araku’s menu), wall. The difference lies in intentional- and co-owned by his college friends just never saw it that way,” shares Rahul
the diner, when it opened in 2016, was ity: if earlier, bits and bobs were placed Avinash Kapoli and Sombir Choud- Reddy, founder of Subko, adding that
designed as “deliberately understated as an afterthought, today, F&B brands hary, the 531 sq. ft, 38-seater has a large this allowed them to foster discovera-
so as not to compete with the food”. are consciously harnessing the affilia- 2.5-cm-long horizontal lamp mimick- bility and “self-select the audience”,
“Masque is a testament to the idea that tive power of souvenirs, collectibles ing a cocoon hanging above the bus- which in turn helped “create a whole
less is more,” explains architect Ash- and keepsakes. tling community table. Brought to life new value system around genuine craft
iesh Shah. A relatively new sandwich shop in by artist Sidharth Kerkar—also the products”. The food world is veering
Shah has been at the forefront of the Bandra, Santa Maria does this well. It co-owner and designer behind Room away from the one-size-fits-all mindset
wabi-sabi wave that saw a host of hos- pays homage to Mumbai’s Catholic One—the fixture is an expression of the in their quest to form deeper connec-
pitality outlets borrowing from the community and the neighbouring restaurant’s food philosophy, “evolu- tions and serve their social function as
Japanese aesthetic that embraces Ranwar village. Some of the original tion of flavours”. The food combines a gathering place catalysing human
imperfection and impermanence. residents of the village are stars— local ingredients such as coconut interaction.
“People crave constant visual and including a popular Elvis impersonator cream with global favourites like gyoza. The answer for them lies in creating
experiential stimulation. With so and Paralympics champion Mark Kerkar feels his viewpoint as an art- a memorable, singular vibe. And it is
much visual content in our daily lives, Dharmai—and they are commemo- ist versus an architect played a seminal true that most diners return to a place
people expect dynamic and engaging rated in Santa Maria’s menu with role in shaping the restaurants he has for the food, sometimes for the service,
environments that keep them excited dishes named after them. The sand- worked with. “When architects handle but most often for the vibe. Chef Gresham
at every turn,” he says, explaining that wich shop is a repository of several cul- space, they solve problems for people. Fernandes at the
the tide is turning from purpose-led tural mementos, such as decades-old The client will say, ‘I need a four-seater Suman Quazi is a food writer and the DJ console in
interiors to emotion-first design. church periodicals and 1990s relics like here; I need my kitchen here’. Design- creator of The Soundboard, a community Bandra Born.
At Neuma, one of Shah’s newer pro- stereos and cassette covers. ers create problems. So, when it comes dedicated to gourmands in India.
R STORY SATURDAY, 7 SEPTEMBER 2024
NEW DELHI 09
e vibe check
diners eat, pay, repeat. Beyond food and drinks, a combination of
a sensorial experience and emotional connect
A
pink vending machine stacked
with matcha and mocha, Pokka
tin cans of banana milk, iced tea
and cold coffee in cheery yellows, bra-
zen oranges and eye-popping blues
transport you to Tokyo. Pop music,
from a bright red transistor, fills the air.
The grin on your face widens as you
meet yourself in the suspended collu-
sion of magnifying glasses. We’re at
Mokai, an artistic Asian coffee house in
Mumbai—but in the washroom.
Across India, the dining landscape’s
latest offering is weird and wonderful
washrooms. “I wanted to give a whimsi-
cal spin to the washrooms. The idea was The washroom at Club Jolie’s in Mumbai.
to create a wacky zone to make the
guest think, ‘Am I still in Mokai?’” says The idea is to make every inch of the tures. Also, the entire restaurant has ria, founder of Silly, a café in Khar,
owner Karreena Bulchandani. restaurant experience memorable. been designed as a Mexican cantina, so Mumbai. “I took it upon myself to cre-
Her inspiration was The Breakfast Bengaluru’s Neon Market has, per- the neon blues and pinks are an exten- ate something truly distinctive for
Club on Artillery Lane in London, haps, one of the wildest washrooms in sion of that theme. Since Mehico’s men—a space where they could feel
which has a secret entrance, and the India, with shimmying oversized disco opening, we’ve seen it become just liberated, especially during moments
bar, The Mayor of Scaredy Cat Town, balls winking in gigantic pentagon that—a space for everyone to click self- of post-drink relief. Thus, the idea of
which one enters through a fridge mirrors. The psychedelic space is ies,” she says. incorporating a bathtub in the men’s
door. Bulchandani wanted to create a studded with gleaming black tiles “I find that female restroom designs loo was born.”
similar impact with a vending-machine overlaid with shiny, grinning cats. The worldwide prioritise aesthetics and It has an outlandish bathtub filled
door that you push to enter a wash- pee zone then becomes an accidental feature mirrors, lighting and inviting with ice cubes. “The ice technology
room with oakwood air fresheners and inclusion with techno music setting atmospheres conducive to socialising eliminates odours and also streamlines
tampons and sanitary napkins in a bas- the mood for a party. and photo opportunities. But the cleaning processes due to its fluid
ket on the sink next to a clutch of lolli- Kolkata’s Mexican restaurant men’s restrooms often lack these nature, minimising pee-swirls and
socialising rose too, propelling restauran- which opened in January, tries to recreate pops and chewing gum. “These are Mehico has pops of neon on the ceil- thoughtful elements,” says Karan Noh- reducing maintenance efforts,” he
teurs to rethink the ambience and offer Japan’s street culture, with a shopping area essentials for a good customer experi- ings, lighting up the loo like a Las Vegas explains. “Typically, we refresh the ice
immersive experiences. Restaurants with streetwear brands and a neon theme ence. Washrooms in Japan boast haird- strip. The glitzy-glam quirky shoutouts every 4-6 hours, ensuring continuous
worked harder to survive by focusing on that runs across the space. The restaurant ryers too,” she adds. like “Hey you! Don’t text your ex!” blaz- freshness throughout the day. Hon-
marketing and building a brand identity. Second House, which opened in Goa’s Sali- The cosy “home away from home” ing across the ceiling hog your atten- estly, the cost is minimal compared to
“Success comes from standing out, not gaon last year, pays homage to the artist Sienna Café in Kolkata brings organic tion in psychedelic blues and pinks. the buzz it creates.”
fitting in,” is an often repeated quote from F.N. Souza and Konkani singer Lorna Cor- quirk to the washrooms with strands of “The idea was to go off the template of With washrooms in cafés and restau-
the television drama Mad Men. And to deiro, both with roots in Saligao, with fresh jasmine wrapped around the taps, a conventional washroom and make Silly, a café in Mumbai, has an rants going beyond the usual smart toi-
stand out in a crowded market, restaurants, AI-generated artworks. wispy agarbattis by the window and the space visually interactive,” says lets with tornado flush, warm hip-seat-
cafés and bars do everything from recreat- Lounge explores the softer aspects of res- newspaper-wrapped toilet rolls of Nivedita Agarwal, founder of Nivedita outlandish bathtub filled with ers and air deodorisers, you could find
ing a different city’s culture to turning taurant, bar and café culture that creates an upcycled paper suspended in a corner. Agarwal Designs, who designed the ice cubes instead of urinals in yourself planning an evening out
washrooms into selfie spots. The Bombay experience beyond the menu, and compels “We love to design every little corner of space. “People often end up hanging the men’s washroom. At around a unique loo experience.
Canteen has a different playlist featuring you to stay a little longer. our space, including the loo, which has out, chatting in the washrooms. The
retro Bollywood hits, exclusively for the ceramic sculptures made by local art- ceiling scrawls are a sure conversation
Mehico in Kolkata, the loos Shilpi Madan is a Mumbai-based
washroom. Bengaluru’s Neon Market cafe, — Jahnabee Borah ists,” says founder Shuli Ghosh. starter and a perfect backdrop for pic- are lit up like a Las Vegas strip. writer. She posts @ShilpiMadan.
ISTOCKPHOTO
T
he first floor of Bandra Born is George Benson. located, it is in of the oldest residential These songs are reserved for the end
designed like a small Japanese bar. It Yadav invested in high-end speakers neighbourhoods in the city. “People because most guests are unfamiliar
features high seating, plenty of from the Finnish audio company Amphion. living here resist change. So we with them. “By closing time, they let
wood, and at the far end, a DJ console pre- Each comes with copper wiring to produce opened a restaurant that encapsulates Music builds up an enjoyable food and drinks experience. go,” Lama notes, which makes them more
sided over by chef Gresham Fernandes. He clean, warm notes, translating into sounds nostalgia with its menu and music. Chai is welcoming of new tunes.
plays electronic, funk, and hip-hop as that are relaxing. “To plan playlists and served in white ceramic teapots, and bar only to welcome guests but also to man- a calming atmosphere and prevent fights Music plays such a key role in Lama’s
drinks are poured and diners dance. Fer- audio, I rely on experts,” he says. The song bites of pineapple, cherry and cheese on age crowds. “There is a frequency (about from breaking out among the teenagers approach to work that for Cocktail &
nandes is music curator for Bandra Born, as library is managed by the streaming service toothpicks are reminiscent of good old 15,000 Hz) that cannot be heard by peo- who visited. Dreams, which opened in 2012, he shared
well as for his chef friends Prateek Sadhu of Roon, and the soundscape was designed by gymkhana food,” says founder Gaurav ple over the age of 40. It’s like a spiky Behind the scenes too, music plays a role a song with the architect as a brief. It was
Naar in Kasauli and Himanshu Saini of Gurugram-based The Audio Co. “We are a Kataria. The music complements the sound and can be annoying for those in in the hospitality business. Lama, who runs US country musician Toby Keith’s I Love
Trèsind Studio in Dubai. speciality café. It means there can be noth- menu with classic chartbusters by The their 20s and 30s,” says Fernandes, add- three bars in Delhi and Gurugram, discov- This Bar, which encapsulates the spirit of
“Music just sets it up,” he says. It changes ing artificial about our menu or music. It Beatles, Whitney Houston and Elvis Pres- ing that if someone plays tracks with this ered this in the early days of his career “come as you are”.
the mood, builds up an appetite, and makes was important to invest in it,” he explains. ley. Their guests love the songs so much frequency, it will discourage a younger when he worked at the Hyatt in the 1990s. Ultimately, that’s the purpose of songs—
people stay—the three main checkboxes of Another reason is the location, Chanak- that they have requested the playlist. The crowd from visiting. In the afternoons, he was tasked with the to strip away the frills and create a connec-
a restaurant, café, and bar. Follow Fernan- yapuri, a district populated with diplomats. Spotify link is on their Instagram bio, This is a strategy that has worked: A story mundane job of prepping garnishes and tion. At Bandra Born, near the DJ console,
des on Spotify for a treasure trove of tunes. Yadav aimed to create a premium café for unlike most restaurants, which promote published by UK radio station Classic FM slicing lime. To make this work less boring, there are people in formals, probably just
Like Fernandes, bar owner Yangdup an audience that would have worked in their website or Zomato page. describes how McDonald’s in North Wales he played Eagles’ songs. About a decade off work, grooving to music as if they were
Lama and restaurateur Manish Yadav have New York, London or Tokyo. He explains In the dining space, sound is used not played soothing Beethoven music to create ago, when he started the speakeasy-style on a beach in Goa.
10 SATURDAY, 7 SEPTEMBER 2024
NEW DELHI ZOOM
COURTESY BAIJU PARTHAN
An easy reading of
Indian art
A new book rescues
the art enthusiast
Avantika Bhuyan
[email protected]
COURTESY GAURI GILL AND JAMES COHAN, NEW YORK
F
rom Stone Age cave paint-
from jargon and ings in Bhimbetka, Madhya
Pradesh, to new-age con-
theory and guides ceptual art, The Big Book of
them through artists, Indian Art is lavish in its
scope and scale. This illustrated history,
movements and by Bina Sarkar Ellias, of the various forms
and movements that have led to paradigm
mediums that shaped shifts in Indian art over centuries covers a
lot of ground without getting dense or
the Indian art world lethargic. The 744-page tome features the
work of over 300 artists, and is divided
into eight sections such as “The Bengal
School”, “The Progressive Painters’ Asso-
ciation and the Cholamandal Artists’ Vil-
lage”, “Artistic Footprints: Indian Icons”,
and “The Art Landscape Post Independ- Subba Ghosh, ‘The Newspaper Reader’, 2022, oil on canvas.
ence”.
Sarkar Ellias, a poet, writer, curator and
founder-editor of the bi-annual global arts
and ideas journal, International Gallerie,
has been mindful of the fact that art can be
daunting to most people when it comes
packed with theory and jargon. At the out-
set she mentions that The Big Book of
Indian Art is targeted at art enthusiasts
rather than art scholars, academics and
historians. “This book is for those who
appreciate art but are intimidated by a cer-
tain vocabulary designated by and for aca-
demics; as I’ve observed, it leaves the lay
person tangled in a web of concepts and
innuendos more numbing in compre-
hension than quantum physics,” she
writes in her author note.
With succinct chapters on key
periods such as Mughal Painting
The Big Book of Indian (1500-1700 CE), Patna School (1750-
Art: An Illustrated 1870), Madras School (1850), and
History of Indian Art bite-sized biographies of significant
from Its Origins to the artists, this book acts as a ready reck-
Present Day, By Bina oner to Indian art. It is the kind of book
Sarkar Ellias, Aleph Book that would be the perfect companion Gauri Gill, ‘Untitled (5)’, ‘From the Series Acts of Appearance’, 2015-ongoing.
Company, 744 pages, ₹2,499 to exhibitions to look up artists, medi- COURTESY HEMANTA MISRA TRUST, GUWAHATI
ums and historical time frames in order nath Tagore’s poems need to be talked Paritosh Sen, ‘Self Portrait’,
to read a work of art better. about more. 2005, acrylic on paper.
Sarkar Ellias does not just faithfully To me, one of the most interesting sec-
chronicle art history but offers context as tions—and the most elaborate—is the “Art
N.S. Harsha, well. For instance, when she mentions the Landscape Post Independence”, which
‘Elsewhere Is evolution of Sikh painting (1750-1850) in traces the transition from modern to con- Hemanta Misra,
Home, I am Just the north-west regions of Amritsar and temporary art. It doesn’t feature your reg- ‘The Cracked
Here’, 2022, Jalandhar, she also provides a modern con- ular linear biographies. Rather, it is evi- Mirror’, 1970, oil
bronze. nection. “In contemporary times, we have dent that Sarkar Ellias knows the subjects on canvas.
a legacy that has found its way through the well, and picks anecdotes and specific
famous Singh twins, Amrit and Rabindra aspects of their practice that would help a
Kaur, who were born in Liverpool, UK, and lay person engage with the artist better.
have practised their art relentlessly. Con- The text humanises the artist, allowing Ira Chaudhuri,
textualising modern times in miniature you to see the person behind the work. ‘Untitled (Mud
style art, the sisters describe their work as Take the snippet on Masood Hussain, Musings)’, date
COURTESY N.S. HARSHA
Past-modern,” she writes. born in Srinagar in 1953, whose works are unknown,
In the chapter “Artistic Footprints: rooted in the Kashmiri way of life. The terracotta.
Indian Icons”, Sarkar Ellias places well- author mentions that the first portrait the
known artists such as Tyeb Mehta, artist ever drew as a child in the 1960s was
Benode Behari Mukherjee, of a young man whose head was wrapped
Krishen Khanna, in a blood-stained bandage to cover inju- COURTESY DAG
Zarina, Arpita Singh, ries resulting from stone pelting. Such K.V. Haridasan,
Sohan Qadri, Anupam instances have led to a mix of sombre ‘Untitled
Sud and Vivan Sunda- works like Those Who Disappeared as well (Nirvriti Yantra,
ram alongside those as evocative ones on rhythms of seasons Brahmasutra
who might not have and colours in Kashmir. series)’, 1970,
gotten their due, such I would suggest pairing the book with acrylic on
as Vamona Navelcar 20th Century Indian Art edited by Partha canvas..
CO
URT
north Goa, the artist Balaram (Thames & Hudson with Art
IR
A
CH
taught art in Portugal Alive). While The Big Book of Indian Art is
AU
the The Last Supper cal perspectives. Together, they make for
I.C
OM
O
n a solitary sandbank,
located on the other side
of the Ganges river—away
from the crowded ghats of
Varanasi—a quaint scene
unfurls. From amidst the mists rising from
the river, you can make out a small wed-
The creator in
sharp focus
ding band, a white horse and two protago-
nists wearing sculptural dresses, adorned
in flowers. It seems like you have stumbled
upon an intimate moment, shared by per-
sons, whose desires are not understood by
a society bound by heterosexual norms.
The two queer protagonists seem to be
A new platform is putting the spotlight on
creating their own rituals of togetherness. award-winning master craftspersons
This is a still from the 2024 film, Haz-
aro Saalon ka Sapna, or A Thousand Years
of Dreaming, by Debashish Paul, which is Avantika Bhuyan
being shown as part of his first solo—with [email protected]
the same title as the film—at Emami Art,
F
Kolkata. The 30-year-old artist has con- rom a bird dagger in koftgiri—or the art of decorating weaponry with
stantly engaged with challenges of queer gold work—by a craftsperson from Udaipur, Rajasthan, to a carving in
identity and desire situated within rigid white stone from Odisha, nearly 100 intricate works are part of Naay-
societal diktats. aab, a new platform to showcase the craft legacy of India. Launched by Craft
Paul, who hails from Phulia village in Maestros, a startup in the handicrafts sector, the platform recently
West Bengal’s Nadia district, and now (clockwise, from above) A still from ‘A Thousand Years of Dreaming’; ‘Anatomy of a Dream’, acrylic ink, charcoal, threads on fabriano embarked on a three-city showcase, with the initial events taking place in
lives in Varanasi, has examined this com- paper; and Debashish Paul. PHOTOGRAPHS COURTESY, DEBASHISH PAUL/ EMAMI, ART, Delhi and Hyderabad. The inaugural exhibition will now shift to Mumbai
plex subject from a deeply autobiographi- next week. These showcases are all set to be an annual feature.
cal lens. “Though the film was made in sandbank. It symbolised the making of a god and beast. He has painted them in a On display are works by over 70 master artists—each of whom has
May, I have been mulling over these new world by the protagonists, free of sti- way that the figures seem to be forged in received a host of recognitions, ranging from the Shilp Guru to the Padma
thoughts for a long time. I come from a fling expectations. “I always base my per- fire,” adds D’Souza. Vibhushan. According to Ajay A. Singh, founder-director, Naayaab, this is
small village as does my partner, who hails formances in nature, which is more fluid According to him, there are many ways a rare occasion when a sizeable number of works by award-winning masters
from a gaon in Uttar Pradesh,” elaborates and inclusive,” he adds. of reading the images on display and the have been brought under a single roof. The selection criterion was three-
Paul. “Both our families don’t understand The exhibition, centred around the film itself. “The two protagonists only find fold, based on the skill, story and cultural significance of the craft. “The
queerness, and hence we have never been film, also showcases performance stills, a lone sandbank as their own space. It is vision for Naayaab stemmed from the fact that our craft heritage is not put
able to disclose our identities or relation- drawings and sculptures. In his note, not lush, but barren—the only kind that on the same pedestal as other art forms. People are able to recall names of
ship to them. There is a constant pressure Mario D’Souza, curator-writer based seems to be available to queer individuals. modern and contemporary artists but
to get married.” between Goa, Kochi and New Delhi, It is also a critique on the institution of don’t know the names of most master
When the artist moved to writes, “Paul’s drawings marriage, which is important given the craftspersons,” he elaborates. “Our craft
Varanasi to pursue a mas- abstract the body and its dialogue around marriage equality in legacies are so multilayered. They need
ter’s degree at Banaras concealing garments into recent years,” he says. “Paul strings unique styles of storytelling.”
Hindu University, he stretched, fantastical together a diverse array of ideas such as This idea—of putting the layperson
had no queer friends, bodies that are man, larger histories of sites like Varanasi, per- directly in touch with the craft— has
and hence there was animal, limb and sonal and family experiences, leading often been reiterated by not-for-profits
not much aware- cloth. Using material double lives, rituals, and more.” The art- and revivalists. Naayaab too shares this
ness about other used in devotional ist’s strength lies in the simplicity of their philosophy but wants to spotlight the
lived queer experi- sculptures and as approach to such complex ideas. Accord- creator and not just the creation. “It has
ences. During a resi- adornment, Paul ing to D’Souza, he is not caught up in the taken us a year-and-a-half to put the
dency at 1 Shanthi repositions and codes heaviness of queer theory and discourse. showcase together. We spent a lot of
Road Studio, Benga- these pariah beings as He approaches it solely from his lived time creating videos around their lives
luru, in 2022, Paul got to the sacred.” experience, and that of those around him. and the processes they follow,” adds
know about dating apps The “sculptural” element “This makes Paul’s practice so special. He Singh. So, if you visit the exhibition in
and met other people, who is integral to the artist’s prac- is an impulsive artist, he makes work as he Mumbai, you will notice two QR codes
identified as queer. “When I came tice. Hailing from a family of potters, sees and senses, with the body being the next to each masterpiece, one featuring
back to Varanasi, I continued to make he grew up watching his father transform primary medium,” he says. the story of the masters and the other on Miniature doll, sandalwood
friends through the apps. And a lot of clay into beautiful objects. Furthermore, Paul concurs and feels that the body too the masterpiece—some of which have carving, Kamlesh Jhangid, Jaipur.
them—who hailed from rural areas and having participated in kirtans, jatra and is a sculpture. In this film, when these been in the making for decades.
had come to the city for education—men- putul naach (performed with dolls), he has strange figures stand against an isolated One such craftsperson is Jai Prakash Lakhiwal, 54, who won the Padma
tioned the fear of disclosing their identity imbibed those elements into his perform- landscape, they look otherworldly. “This Shri in 2016. Based in Delhi, he specialises in miniature paintings, and is
to family members. Some of them had ance style. It makes use of fluid textile is my way of sculpting a new character and known for his interplay of light and shadows. One of his works on display
resigned to the idea of getting married to forms and sculptural dresses, which don’t identity—one which seeks acceptance at Naayaab include a vibrant depiction of a queen watching a bhand per-
girls. That, to me, seemed like a huge subscribe to any gender norm. from the culture and rituals that it has formance. Unlike some of the other artists, who can trace their legacies back
problem—something that would destroy Some such costumes from the film have The film seeks to reflect that emerged from. I use natural rubber to cre- several decades, he is the first in his family to take up miniature painting in
the lives of the queer men, their partners, been mounted on stands, “almost like pre- ate lots of layers. It gives a sense of heavi- a big way. “My family shifted to Delhi from a village called Shahpura near
and the women they would get married scient figures, free of the wall”, states suffocation, and the need for ness to this skin-like creation. But even Jaipur. Both my father and grandfather worked as mistry, or foremen. My
to,” he explains. D’Souza, who has curated the show. “The a more fluid and inclusive within that heaviness, lie hopes and father was fond of design and painting. I picked up the interest from him,”
The film seeks to reflect that suffoca- drawings are like collages, making use of society. The isolated dreams,” he says. says Lakhiwal, who teaches interested students free of cost.
tion, and the need for a more fluid and thread, cowrie shells, and more. They are At Gallery 2 and 3, Emami Art, Kolkata,
inclusive society. The performance, in the also anthropomorphic in a sense, and
sandbank symbolises the till 26 October, Monday-Saturday, 11am- At the Taj Mahal Palace, Colaba, Mumbai on 13-14 September.
film, was deliberately shot on an isolated there seems to be an ambiguity between making of a new world 7pm.
Into the wilderness Blue Sky Mausoleum in Forest Lawn Cemetery, Buffalo.
Teja Lele
W
COURTESY VISIT BUFFALO
hen I joined my architectural degree course many moons ago, the first
solo project required a presentation on an architect of one’s choosing.
on Skeleton Coast
I mumbled the only architect’s name I knew: Frank Lloyd Wright.
Born in 1867, in Richland Center, Wisconsin, Wright was renowned for his key
role in the architectural movements of the 20th century. Recognised in 1991 by
the American Institute of Architects as “the greatest American architect of all
time”, Wright pioneered the Prairie School movement, the indigenous style of
architecture inspired by the flat landscape of America’s Midwest and spotlighting
a new vocabulary of space and form.
Wright’s work reflected his philosophy of “organic architecture”, which was
From German intrinsic to the environment and “a product of its place, purpose, and time”.
“Organic buildings are the strength and lightness of the spiders’ spinning, build-
architecture to ings qualified by light, bred by native character to environment, married to the
ground,” said the master architect, who spent his formative years in the Midwest
rugged landscapes and began his career as a draftsman at an architectural firm in Chicago.
Wright’s Prairie homes, which he built between 1900-14, helped develop a dis-
and ancient rock tinctly American architectural style, one rooted in the site and surroundings.
engravings, Namibia is Characterised by an open floor plan, low-pitched roofs and natural materials like
wood and stone, the wide, flat buildings aimed to mimic the prairie landscape.
a land of contrasts Wright perfected his Prairie style in the city of Buffalo, New York State, which
has more of his buildings than any other city except Chicago. Buffalo mostly
serves as a pit stop while travelling up to the spectacular Niagara Falls. The city
Rishad Saam Mehta has a radial street plan, and was designed to be an “Americanised Paris”, complete
with radiating boulevards. A lesser known facet of the Queen City of the Great
he first time I saw Swakop- Lakes is that it’s “a textbook in modern American architecture”, according to The
GST relief
m MINT SHORTS
Google abusing power over
for pvt R&D Bajaj Housing Fin IPO boosts
website ads, UK regulator says
London: Britain’s antitrust regulator said on Friday it had provi-
sionally found Alphabet’s Google had abused its dominant posi-
tion in digital advertising to restrict competition.The Competi-
on council’s
agenda
stocks of mortgage lenders
tion and Markets Authority (CMA) said it believed Google was
using anti-competitive practices in open display ad tech through FROM PAGE 16
the preference of its own ad exchange, which could be harming
thousands of British publishers and advertisers. REUTERS Nitin Gadkari had written to Strong demand, government support, and high return on assets have been strong tailwinds
minister Sitharaman seeking
withdrawal of 18% GST on life
Spicejet plans to raise over and medical insurance premi- Abhinaba Saha
Budget boost portfolio of ₹5,000 crore by FY25 and
ums.The reduction in the tax [email protected] ₹15,000 crore by FY27.
₹3,200 crore via debt, equity rate on health insurance servi- MUMBAI
Some affordable housing companies have seen a good run-up in their stock prices
In contrast, shares of Can Fin Homes
MINT owing to an emphasis on rural housing schemes in the Union budget.
ces is not just populist but also a Housing finance Returns over Return on assets and LIC Housing Finance, which are yet
A
practical step to curb high taxes s Bajaj Housing Finance company six months* (in %) (in %) to make meaningful entries into the
on essential services, said gears up for its initial public PNB Housing 49.7 2.2 affordable housing segment, have
Abhishek A. Rastogi, founder of offering (IPO) on Monday, offered an average return of 10% in the
Home First Finance 36.1 3.2
law firm Rastogi Chambers. the buzz around affordable past six months. The affordable housing
“However, this reduction home loan companies has AAVAS Financiers 33.6 3.0 segment is lucrative for housing finan-
should be implemented before gotten stronger. Even though India’s Aadhar Housing Finance** 31.7 3.9 ciers as these loans typically have high
the sunset clause of the anti- second-largest housing financier, which Can Fin Homes 11.4 2.1 rates of interest, which generate higher
profiteering provisions to has a strong presence in the corporate or RoAs for them.
ensure the rate benefit is passed builder loan segment, has little to no LIC Housing Finance 7.8 1.6 “The lending rate (in the affordable
on to policyholders,” said Ras- footprint in the affordable housing Aptus Value Housing Finance -5.5 6.5 housing segment) is around 12–13% on
togi, who has argued on several space, its ₹6,650 crore IPO has boosted Nifty Financial Index 9.5 average, unlike that in the prime seg-
cases relating to anti-profiteer- the Street’s excitement about affordable ment where the rates are more competi-
*From 5 March 2024 to 5 September 2024 | **Aadhar Housing Finance listing day of May 15 Source: Capitalmarket
Mumbai: Cash-strapped domestic carrier Spicejet plans ing. Rastogi also said the housing financiers. tive at around 8–11%,” Anusha Raheja,
to raise ₹3,200 crore through QIP, warrants and capital expected clarification regard- “Some of these affordable housing SATISH KUMAR/MINT
research analyst at Dalal & Broacha
infusion by the promoter, the airline said in a presentation ing transactions between the companies saw a good run-up in their average return of 34%. Only Aptus Value Finance. Stock Broking, told Mint. “Since the RoA
on Friday.The funds will be utilised in taking back the branch and head office in the stock prices because there was an Housing Finance lost about 6% in this PNB Housing’s stock has generated in this business is better than the prime
grounded fleet in operations, liability settlement, new fleet airline sector will offer tax cer- emphasis on rural housing schemes in period as it reported a relatively lower 50% returns in the past six months, the segment, valuations of the companies in
induction and other general purposes. PTI tainty and help reduce frivo- the budget,” Dhaval Gada, fund man- velocity of disbursements and poorer highest of all housing finance compa- the affordable housing space are also
lous litigation. Rastogi said sev- ager at DSP Mutual Fund, told Mint. quality of assets in the quarter ended nies. During Q1FY25, 32% of the com- better.”
eral foreign airlines operating “The buzz around Bajaj (Housing June. pany’s incremental disbursements were Affordable housing loans are written
Godfrey Phillips India board to in India are national carriers, Finance’s) IPO has also caused some However, market participants remain towards affordable housing and emerg- at a more grass roots level. They involve
and the Indian government’s sharp movement in their ing markets. The com- physical underwriting and collection
consider issue of bonus shares consistent goal has been to prices, particularly for the house call pany plans to increase this processes, which increase operating
New Delhi: Cigarette maker Godfrey Phillips India Ltd on Fri- establish a strong tax frame- more comparable big share to 40–45% by the costs. A riskier borrower profile and
day said its board will consider issuing bonus shares to existing work in collaboration with players such as PNB The market remains PNB Housing Despite favourable end of this fiscal. lower quality of collateral relative to the
shareholders in the ratio of 2:1. A meeting of the board of international counterparts. (Housing Finance).” bullish on affordable Finance’s stock markets, affordable “There was an over- prime segment increases funding costs
housing segment, performance shows housing financiers
directors is scheduled to be held on September 20, to consider The Council is also expected Strong demand visibil- recognizing its market’s enthusiasm face hurdles like high hang of some private as well.
and recommend to the shareholders for their approval, the to clarify on the taxability of ity, substantial govern- growth potential for this sector operating costs equity block deals which As a result, affordable housing finan-
issue of bonus shares, Godfrey Phillips India said in a regula- payments made by companies ment support and high were due for PNB (Hous- ciers charge higher interest on their
tory filing. PTI like software exporters to their return on assets (RoA) ing). Now that those are loans. However, several subsidized refi-
overseas branches. Mint had have provided significant tailwinds to bullish on affordable housing because done, its stock price is catching up with nancing schemes from the National
reported on 13 August that the these companies. In the past six months, they see it as a burgeoning sector with the rest of the players in the affordable Housing Bank ease their funding costs,
Maharashtra gives nod to mega Council will consider clarifica- stocks of the top pure-play affordable enough room for a variety of players. space,” Gada said. resulting in wider interest margins and
tions on the tax issues faced by housing financiers—Aadhar Housing The market has already handsomely As part of its broader push into the hence a higher RoA for them.
semiconductor, EV projects software exporters and foreign Finance, Aavas Financiers and Home rewarded those venturing into this seg- retail loan segment, the housing finan- For an extended version of this story, go
PTI
airlines in India. First Finance Co. India have posted an ment. A case in point—PNB Housing cier is targeting an affordable housing to livemint.com.
Has social media broken the Govt keeps eye on weather as polls near India.
Akasa Air has 24 aircraft and
is set to induct one more
SC refuses to stay
Adani arm’s plan
Railways’ full electrification HUL panel
to review its
for Radius’ revival plan faces further delays ice cream
business
Krishna Yadav
[email protected] Suneera Tandon
NEW DELHI [email protected]
The plan faces delays due to complexities in last-mile connections in North East and South NEW DELHI
T
he Supreme Court on
H
Friday declined to stay industan Unilever Ltd
the resolution plan of Subhash Narayan (HUL) is reviewing the
Adani Goodhomes, a subsidi- [email protected] future of its ice cream
ary of Adani Infrastructure and NEW DELHI division, setting up a commit-
Developers, to acquire the tee of independent directors to
T
insolvent real estate company he Indian Railways’ ambi- assess the prospects of the busi-
Radius Estates. tious electrification plan ness, following its parent com-
The bench, comprising Jus- involving its entire broad pany Unilever’s move to sepa-
tices Sanjiv Khanna and Sanjay The case will be heard again in gauge network faces further rate its ice cream operations
Kumar, issued a notice to January 2025. AP delay due to complexities in across markets.
Adani Goodhomes and other last-mile connections in the North East In a statement released Fri-
parties, including the dissent- Mumbai bench of National and the South. day, HUL said the committee
ing creditor Beacon Trustee- Company Law Tribunal The 100% electrification plan is now will provide recommendations
ship, which challenged the (NCLT), which had approved likely to be completed only by the end of on the best path forward for the
plan in the Supreme Court the plan and dismissed allega- the current fiscal or early next year as ice cream business, factoring in
after it was upheld by NCLAT. tions of collusion. last-mile projects are progressing slowly the interests of all stakeholders.
Beacon Trusteeship claimed Dissenting creditors, like this year, two officials aware of the The final decision will be made
the plan imposed an around Beacon Trusteeship, alleged development said. The Railways’ latest by the audit committee and the
93% haircut on its claims. that the resolution professio- plan was to complete full electrification board, based on the independ-
The case will be heard again nal (RP), Jayesh Sanghrajka, in the first 100 days of the new govern- ent committee’s advice.
in January 2025. and HDFC Ltd, the largest cre- ment. This would have meant comple- Necessary announcements
This case highlights the ditor, colluded, resulting in tion of all work by September. and disclosures in accordance
ongoing issue of substantial the receipt of only one bid. The challenges are mainly coming in with the Securities and
haircuts taken by lenders in They demanded a restart of executing electrification in the North Exchange Board of India’s
insolvency resolutions. the insolvency process, but the East, particularly Assam and Tripura The 100% electrification plan is now likely to be completed only by the end of the current fiscal or early next year. MINT (Sebi) listing regulations and
The Congress NCLT Mumbai where just over 50% of the broad gauge other applicable laws will fol-
party, on 4 Sep- Creditors argued approved Adani lines have been electrified till August full electrification of its broad gauge the Railways), electrification reached annual fuel bill substantially. It will also low the board’s consideration,
tember, raised that the RP was Goodhomes’ bid end, and work on 1,280 km of the route lines by December 2023. This deadline 100% in 20, it is above 90% in 5, and contribute to India’s target of achieving the company added.
concerns based unfair because it in December is yet to be completed, one of the two later shifted to the end of fiscal year above 80% in one, as per the railway net zero greenhouse gas emissions by This move aligns with Uni-
on data from the imposed a 93% 2022, citing ins- persons quoted earlier said. 2023-24. It has now been further ministry. In two states and Union terri- 2070. Additionally, Indian Railways lever’s earlier announcement
All India Bank ufficient evide- In addition, 892 route km (RKM) of extended as work on about 2,199 RKM of tories, electrification work is either yet plans net zero carbon emission by 2030, to demerge its €7.9 billion
haircut on
Employees Asso- nce for these the network in six states—Karnataka, railway network is still going on as of 1 to start or is just over 50% ( in Assam and and aims to become the largest green global ice cream unit by the end
ciation, which secured financial claims. Tamil Nadu, Gujarat, West Bengal, Goa September 2024 and going by previous Tripura). Electrification has not started railway system globally. of 2025. The consumer goods
revealed that creditors The Resolu- and Rajasthan—is also facing data, it may take a few months to as of 1 September, in North East- Between 1948 and 2014, about giant cited the distinct charac-
public sector tion Plan (RP) delays in completing the elec- complete this last stretch. ern states like Arunachal Pra- 22,000 RKM were electrified teristics of the ice cream busi-
banks took a 74% violated Section trification work. Like the previous year, desh, Sikkim, Mizoram, cumulatively. The pace ness—such as its unique supply
haircut on their outstanding 30(2) of the Code, dissenting
dues from 10 financially stres- creditors said. They argued it
Just about 688 km of
network has been electri-
Broad gauge lines
50% the Railways set a target of and Manipur. Electrifica-
completing a record tion also needs to be com-
The network
km
picked up from there, but
real acceleration came in 688 chain, seasonal fluctuations,
and capital-intensive nature—
sed companies after they were was unfair because it imposed fied in the five months of 6,500 route km of electri- pleted in Goa, Karna- FY18 when for the first as reasons for the separation.
acquired by the Adani Group. a 93% haircut on secured the current fiscal after the electrified in fication in FY24. But as taka,Tamil Nadu, Gujarat electrified in five time over 4,000 RKM “The Unilever board is
In this case on 27 May, the financial creditors while pro- Railways added just over Assam, Tripura per the Railway Ministry’s Rajasthan, and West Ben- months of this fiscal were electrified. The pace confident that the future
National Company Law App- viding 100% recovery to 4,000 RKM in FY24, and at own report, only about gal. increased with between growth potential of ice cream
ellate Tribunal (NCLAT) homebuyers via allotted units this pace completion will be 4,644 route km of network got The government provided 4,000 RKM and 6,000 RKM will be better delivered under
upheld Adani Goodhomes’ without reductions or price delayed further, said the other electrified last fiscal. ₹6,500 crore for electrification being electrified consistently for a different ownership struc-
plan to take over Radius Est- increases. They criticized the person. The electrification of broad Route kilometre (RKM) is the dis- work in the FY25 budget including four years till FY22. Thereafter, it rose to ture,” Unilever had said in
ates, rejecting challenges from RP for expediting Corporate gauge lines of the Railways covered a lot tance between two points on the rail- unused funds from the previous year, over 6,500 RKM in FY23 and the target March, adding that the spin-
dissenting creditors includes Insolvency Resolution Process of ground in the past few years and ways, regardless of the number of lines one of the persons quoted above said. was again set for 6,500 km in FY24. But off would create a leading
ICICI Prudential Venture Cap- and pressuring the Committee reached 96.68% by August-end at connecting them: be it a single line, dou- A query sent to the railway ministry this target was missed as only about standalone business in an
ital Fund and Beacon Trustee- of Creditors. around 64,144 RKM and some 2,199 ble line, or any other configuration. remained unanswered till press time. 4,644 RKM were added in FY24. attractive category.
ship. This decision reaffirmed For an extended version of RKM is left. Out of 32 states and Union territories The electrification drive is expected For an extended version of this story, go For an extended version of
an earlier order from the this story, go to livemint.com Railways had intended to complete (for which estimates were available with to reduce the Railways’ ₹15,000-crore to livemint.com this story, go to livemint.com
Chanda Meal costs fall led by tomato, broiler chicken prices ‘Change perception
Kochhar and
husband face
Dhirendra Kumar
[email protected]
government launched the sale oil, chili, and cumin—though
of subsidized tomatoes that making up a smaller share of a
of infra financing’
NEW DELHI capped retail prices at ₹60 per meal cost—fell by 6%, 30%, and
SC scrutiny kg, following a surge earlier. 58% y-o-y, respectively, Anshika Kayastha ture projects, he said.
T
he cost of a home-cooked “The decline in vegetarian according to the report. [email protected] “We all talk of risk in infra-
Utkarsh Anand meal, or thali, fell in thali cost is largely due to For non-vegetarian meals, MUMBAI structure. If the risk in infra-
[email protected] August, led by lower pri- tomato prices, which are lower broiler chicken prices structure sector is high, it
D
NEW DELHI ces of tomatoes and broiler expected to decline further were a major factor in the price espite strong asset should reflect in higher rates
chicken, rating agency Crisil with fresh supplies from west- decline. Broiler prices dropped quality for the last 5-6 because that is how risk pric-
T
he Supreme Court on said in a report on Friday. ern and southern 1-3% on month, years, infrastructure ing happens,” Rai said, adding
Friday sought replies The price of a vegetarian states coming Prices of essential partly due to financing is considered a that NaBFID did a study
from ICICI Bank’s meal dropped 8% year-on-year into the market,” commodities like d e c r e a s e d ‘risky business’ owing to a which showed that the aver-
former managing director (y-o-y) and 4% month-on- said Pushan vegetable oil, chili, demand during negative perception around age rate for infrastructure
Chanda Kochhar and her hus- month (m-o-m) to ₹31.20 in Sharma, director- and cumin fell by the Shravan the segment due to past expe- loans over the last 2-3 years
band Deepak Kochhar on a August, while non-vegetarian research, Crisil
The price of a vegetarian meal dropped 8% year-on-year and 4%
6%, 30%, and 58% month, when rience, said Rajkiran Rai G., was 8.75%, only slightly hig-
petition filed by the Central meals saw a sharper decline of month-on-month to ₹31.20 in August. MINT Market Intelli- non-vegetarian managing director, National her than, say, a housing loan
Bureau of Investigation (CBI) 12% y-o-y and 3% m-o-m, gence and Ana- y-o-y, respectively, consumption typ- Bank for Financing Infra- average of 8.50%.
appealing a Bombay High bringing the cost down to dal, curd, and salad. The non- of the impact of food inflation lytics. the report said ically declines. structure and Development “In the last 5-6 years data,
Court judgement invalidating ₹59.30, the report said. vegetarian version replaces dal on household expenditure. Falling fuel A rise in onion (NaBFID). infrastructure
their arrest by the agency in In comparison, in August with broiler chicken. Despite Vegetable prices displayed costs also played a and potato prices At a time when NaBFID study defaults are
connection with the alleged last year, a vegetarian thali fluctuating commodity prices, mixed trends in August. Onion key role in reducing thali tempered further cost reduc- global private showed that the almost zero.
₹3,250-crore Videocon kick- cost ₹34 and a non-vegetarian the proportion of ingredients and potato prices surged by 51% prices, the report highlighted. tions, Crisil said. equity (PE) funds average rate for Bankers’ percep-
back-for-loans case. thali was priced at ₹67.50. used to calculate these prices and 53% year-on-year, respec- The price of a 14.2 kg LPG cyl- “Potato prices are expected are looking to infrastructure tion of the risk
A bench of justices Sanjiv By July 2024, prices had remains constant. tively, due to reduced arrivals, inder in Delhi dropped to ₹803 to stay firm due to low produc- invest in the sec- about infra is
loans over the
Khanna and P. V. Sanjay already eased to ₹32.60 for The average cost of prepar- while tomato prices dropped in March 2024, a significant tion caused by late blight infes- tor, Indian insti- reflecting in the
Kumar issued notices to the vegetarian and ₹61.40 for non- ing a meal at home is calculated 51% to ₹52 per kg thanks to 27% decline from ₹1,103 in tations in major producers like tutions remain last 2-3 years price,” he said,
couple, admitting CBI’s appeal vegetarian thalis. based on input prices across fresh supplies. August 2023, helping ease Gujarat, Punjab, Haryana, and sceptical, Rai was 8.75% adding that the
against the 6 February judg- A typical vegetarian meal north, south, east, and west The drop in tomato prices is household meal costs. Uttar Pradesh,” Sharma added. said, adding that same goes for the
ment of the Bombay HC. Addi- includes roti, vegetables India. The monthly change in largely credited to government Additionally, prices of essen- For an extended version of “somewhere the power sector, be
tional solicitor general S. V. (onion, tomato, potato), rice, thali prices serves as a measure intervention. On 29 July, the tial commodities like vegetable this story, go to livemint.com perception has to change”. it solar or wind.
Raju, appearing for CBI, He was speaking at a panel While banks were reluctant
assailed the high court judg- discussion at the Fibac bank- to lend towards HAM (hybrid
ment, briefly arguing that the ing conference organised by annuity model) projects in
arrest of the two complied
with all legal and procedural
requirements.
Reliance Infra weighs EV push, taps ex-BYD exec Federation of Indian Cham- 2015-16, the segment now
bers of Commerce and Indus- accounts for 60% of incre-
try (Ficci) and Indian Banks’ mental credit to the infra-
Issuing notice in the matter, Association (IBA). structure sector because len-
the court said that CBI’s peti- Reuters to be scaled up to 750,000 jay Gopalakrishnan, who has locally manufacture batteries this to 30% by 2030. It has The industry “talks superfi- ders believe it to be safe, Rai
tion against the Kochchar cou- [email protected] over some years, the first per- joined as a consultant to advise and this week won a bid to budgeted over $5 billion in cially about risk” but NaBFID further said.
ple will be taken up with NEW DELHI son said. on the EV project, did not receive government incen- incentives for companies is finding it easy to raise and For an extended version of
another plea filed by the It is also looking at the feasi- respond to a request for tives for 10 GWh of battery cell locally manufacturing EVs and invest capital in infrastruc- this story, go to livemint.com
R
agency against the bail granted eliance Infrastructure is bility of building a battery comment. production. their components, including
to Videocon Group promoter considering plans to plant starting with 10 gigawatt Anil Ambani is Reliance Infra is If Anil’s group batteries. CORRECTIONS AND CLARIFICATIONS
Venugopal Dhoot in the same manufacture electric hours (GWh) of capacity and the younger looking at the decides to press Battery making is yet to take
case earlier this year. In its 6 cars and batteries, and has scaling up to 75 GWh over a brother of feasibility of ahead with its off in India but some local Mint welcomes comments, suggestions or complaints about errors.
February judgment, Bombay hired a former India executive decade, the person added. Mukesh Ambani, building a battery plans, the broth- manufacturers like Exide and
High Court ruled that CBI at China’s BYD Co. to advise on Reliance Infrastructure Asia’s richest Readers can alert the newsroom to any errors in the paper by
acted without due considera-
plant starting with e r s w i l l g o Amara Raja have tied-up with
emailing us, with your full name and address to
its plans, two people briefed on did not respond to a request man and head of head-on in a mar- Chinese players for technol-
tion and abused its power in the matter told Reuters. for comment on its plans, Reliance Indus- a capacity ket where EVs ogy to manufacture lithium-
[email protected].
the arrest of Chanda Kochhar The company, part of Anil which are being reported for tries, which has of 10 GWh have a niche pres- ion battery cells in the country. It is our policy to promptly respond to all complaints. Readers
and her husband. “The investi- Ambani’s Reliance Group, has the first time. Shares of the interests ranging ence but are Reliance Infrastructure is dissatisfied with the response or concerned about Mint’s journalistic
gating agency (CBI) has failed hired external consultants to company, which were down from oil and gas growing fast. also looking for partners, integrity may write directly to the editor by sending an email to
to demonstrate any circum- conduct a “cost feasibility” 0.2% before the Reuters report, to telecoms and retail. The Electric models made up including Chinese companies, [email protected]
stances or material evidence study for setting up an EV closed nearly 2% higher after it brothers split the family busi- less than 2% of the 4.2 million and is aiming to finalise its
Mint’s journalistic Code of Conduct that governs our newsroom is
justifying the decision to plant with an initial capacity of was published. ness in 2005. Mukesh’s com- cars sold in India last year, but plans within a few months, the available at www.livemint.com
arrest,” said the high court. about 250,000 vehicles a year, Former BYD executive San- pany is already working to the government wants to grow first person said.
First published in February 2007 to serve as an unbiased and clear-minded chronicler of the Indian Dream.
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LIVEMINT.COM NEWS SATURDAY, 7 SEPTEMBER 2024
NEW DELHI 15
Cong claims Buch earned Sebi to tighten derivative trading rules Reuters protection and for ensuring
T
he Securities and released this month through a
Exchange Board of India circular, the sources said. The
(Sebi) will tighten deriv- details have not been reported
ative rules to increase entry previously. Sebi did not
barriers and make it more respond immediately to a
The fresh allegation potentially places Buch in contravention of Sebi rules expensive to trade as it tries to request for comment.
limit retail investors speculat- The steps follow an increase
ing on risky contracts, said in tax on derivative transac-
Anirudh Laskar four sources with direct tions in July intended to
[email protected] knowledge of the matter. reduce the participation of
Mumbai The market regulator will retail investors in the options
limit the number of options Market regulator Sebi is trying to limit retail investors market.
I
n a fresh salvo against Madhabi Puri contract expiries to one per speculating on risky options contracts REUTERS Finance minister Nirmala
Buch, the Congress party has alleged exchange a week and nearly Sitharaman flagged concerns
that the chair of the Securities and triple the minimum trading ings into India’s booming risen to 41% in the financial in May that any unchecked
Exchange Board of India (Sebi) earned amount, the sources said, in options market. year ended March 2024 from explosion of retail investor
rental income from an associate firm rules similar to those proposed The monthly notional value 2% six years earlier, regulatory trading in derivatives could
of Wockhardt Ltd that was investigated in July, despite pushback from of derivatives traded was data showed. create future challenges for
for insider trading last year. traders and brokers. But, Sebi ₹10,923 trillion ($130.13 tril- “A key objective was to put the markets, investor senti-
The principal opposition party claimed will review some of its earlier lion) in August—the highest an end to the large and rising ment and household finances.
that Buch received about ₹2.17 crore proposals to increase margin globally, data from the regula- speculative volumes in index The final rules will ask
between fiscal years 2018-19 and 2023-24 requirements and to monitor tor showed. The largest options contracts close to exchanges to reduce the num-
from a company called Carol Info Services intraday trading positions, share of trading is in options expiry,” said the first of the ber of contract expiries to one
Ltd. In its annual report for 2022-23 Carol according to the sources. contracts linked to stock indi- sources, all of whom declined a week per exchange from
Info states that it is a subsidiary of Khorak- Authorities have been flag- ces like BSE Sensex and NSE to be identified. multiple expiries currently
iwala Holdings and Investments Pvt. Ltd ging risks from speculative Nifty 50. “The regulator believes that that give traders the opportu-
and that Wockhardt Hospitals Ltd is an trading by retail investors, The share of individual this warrants additional meas- nity to speculate more, said the
associate company. who have been funnelling sav- investors in index options has ures both for small investor four sources.
Habil Khorakiwala, the founder and
chairman of pharmaceutical firm Wock-
hardt, is a director of Khorakiwala Hold- Securities and Exchange Board of India chief Madhabhi Puri Buch PTI
ings and Investments, according to Tofler.
Mint couldn’t independently establish index lost 1.17% to settle at 24,852.15.
if Buch or any entity or persons closely
The concept of conflict is that when
The documents shared by the Congress there is any doubt, there could be poten-
Adani plans chip plant with Israel’s Tower
associated with her received the alleged showed that the Sebi orders on Wock- tial conflict and needs to be disclosed, a
rental income from Carol Info. The allega- hardt were passed by a single adjudicating lawyer said on the condition of anonym- Bloomberg a post on X Thursday that listed not to be identified. The ports- ing efforts toward expansion
tions place Buch potentially in contraven- officer named Vijayant Kumar Verma. ity. “In my view, there should be no impli- [email protected] all approved projects. to-power conglomerate will after a scathing short-seller
tion of Sebi’s regulations, apart from rais- Buch served as a Sebi whole-time member cation on Wockhardt unless something The unit is expected to have largely fund the investment attack last year, is entering
T
ing charges of conflict of interest. between 2018 and 2021, before becoming untoward is proved. The calculation of he Adani Group plans to a production capacity of through its internal accruals another sector which is a key
The Congress said that settlement amount is formu- build a semiconductor 40,000 wafers in the first and some debt, the person focus area for Prime Minister
Wockhardt, a regulated FRESH SALVO laic and there is unlikely to be fabrication plant with an phase, and added. Narendra Modi’s administra-
entity, was under Sebi’s inves- any issue with it,” the lawyer Israeli partner, in a bid to bol- 80,000 in the The chips The chips man- tion.
tigation during 2023 for vari- CONGRESS says IN its annual report CONGRESS says added. ster India’s chipmaking capa- second, Fadnavis manufactured at ufactured at the Modi is looking to turn India
ous cases, including for Buch got ₹2.17 cr
between fiscal years
for 2022-23, Carol
Info says Wockhardt
Wockhardt was
under Sebi probe
Buch has been firefighting bilities as semiconductors said in the post, the facility will be upcoming facility into a technology superpower,
insider trading. In a state- 2018-19 & 2023-24 Hospitals Ltd is an during 2023 for several allegations the past become a key geopolitical bat- without sharing used in drones, will be used in lure more international chip-
ment, the party said this was from Carol Info associate company various cases few weeks ever since tleground globally. any timeline for drones, cars, makers and cut reliance on
smartphones,
“an outright case of corrup- US-based Hindenburg The conglomerate, led by the project. smartphones and expensive imports.
tion that invokes conflict of Research disclosed a show billionaire Gautam Adani, and The project, cars, and other other mobility Semiconductors have grown
interest violating Section 4, 7, and 8 of chairperson in March 2022. cause notice sent by Sebi to the short- Israel’s Tower Semiconductor housed under the mobility solutions solutions. into a crucial resource amid an
Sebi’s 2008 Code on Conflict of Interests Sebi, in an order dated 2 March 2023, seller regarding a case related to Adani Ltd will set up the chip manu- group’s flagship An Adani escalating tech rivalry between
for members of (Sebi) board”. said that Vijay Khetan, a former compli- Group (in connection with a Supreme facturing facility at Taloja on and incubator Group represent- the US and China, with many
Sebi and Wockhardt did not respond to ance officer of Wockhardt, had paid Court-directed investigation into money the outskirts of Mumbai at an Adani Enterprises Ltd, will be ative couldn’t immediately nations reviewing the risk of
requests for comment. Wockhardt stock ₹27.06 lakh towards a settlement for fail- trail within the group). investment of $10 billion, built over three to five years, comment when reached by relying too much on imports
on NSE ended 5% lower at ₹1,034.55 on ing to disclose price sensitive information To read an extended version of this story, Maharashtra deputy chief min- according to a person familiar phone. and investing heavily in devel-
Friday, when the benchmark Nifty50 in 2013. go to livemint.com ister Devendra Fadnavis said in with the planning, who asked Adani, whose group is focus- oping domestic capabilities.
EXPLORE
Hexaware Technologies has hired Kotak, Citi Global Markets, J.P.
Morgan, HSBC etc. to manage the share sale. MINT
Hexaware investors
to sell shares worth
₹9,950 cr in IPO
UNMISSABLE
STORIES ON
Nikita Prasad, Vaamanaa Sethi June 2002. Before Carlyle
& Jas Bardia acquired Hexaware, its previ-
ous promoter Baring Private
New Delhi/ Bengaluru Equity Asia had delisted its
shares and taken the company
M
umbai-based Hexa- private in 2020.
ware Technologies The firm reported a revenue
has filed draft papers of $1.26 billion for the year
SENSEX 81,183.94 1,017.22 NIFTY 24,852.15 292.95 DOLLAR ₹83.95 ₹0.03 EURO ₹93.30 ₹0.12 OIL $73.56 $0.15 POUND ₹110.61 ₹0.09
T
82,000
op global airlines includ- such projects carried out by the pri- before the release of tepid US market four years after its delisting. The IPO’s
ing Emirates, Lufthansa vate sector. The Council is jobs data for August. The US issue size and key dates are yet to be
and British Airways were expected to bring out a clarification Federal Reserve is expected to 81,000
disclosed. >P15
in for a shock when to the effect that such research by rely on key hiring data to 6 Sep 2024:
India’s tax authorities both public and private entities will decide the quantum of rate -1.24%
demanded a collective ₹10,000 be treated at par,” said the person. cuts in the world’s largest
80,000
Bajaj Housing IPO launch lifts
crore earlier this year, prompting Abhishek Jain, indirect tax head economy later this month. stocks of housing financiers
an international travel body to cau- and partner at KPMG said that sev- Breaking a three-week win- 79,000 Bajaj Housing Finance is opening its IPO on
tion that the country’s complex tax eral industries are looking forward ning streak, the Sensex and 5 Aug 2024: Monday. Even though India’s second-largest
laws may spark an exodus of foreign to the GST Council meeting for Nifty fell 1.2%, the most in a -2.74%
housing financier has little to no footprint in
78,000
carriers. potential relief related to ongoing month, closing at 24,852.15 5 Aug 6 Sep the affordable housing space, its ₹6,650 crore
On Monday, the Goods and Ser- investigations. “It will be notewor- and 81,183.93 points respec- IPO has boosted the Street’s excitement
Source: Capitaline about affordable housing financiers. >P13
vices Tax (GST) Council will take up thy to see if these clarifications tively. The losses were led by
SARVESH KUMAR SHARMA/MINT
the issue, along with proposals to resolve the investigations.” index heavyweights Reliance
provide tax relief for certain heli- GST Council will consider exempting foreign airlines’ reimbursement In the case of life and health Industries, State Bank of India, tiously reducing their posi-
copter services, work related to of expenses at Indian branches from GST’s purview. AFP insurance schemes which attract ICICI Bank and Infosys. tions before the data release, Congress alleges Sebi’s Buch
software exporters such as Infosys 18% GST, a panel of central and Traders remained on the he said. earned rent from Wockhardt
Ltd, and core research by private RATE REVIEW state officials (called fitment com- edge, especially since last The nervousness was evi- In a fresh salvo against Madhabi Puri Buch,
enterprises, two people aware of gst on choppers for council to take up Study on GST rate mittee) could not arrive at a con- month’s weak payroll figures dent in the 6.5% surge in fear the Congress party has alleged that the chair
the development said. religious purposes FMs’ views on taxing rationalization will sensus on the quantum of rate cut had rocked equities world- gauge India VIX. of the Securities and Exchange Board of India
The federal indirect tax body, to may be taken up insurance premiums also be reviewed at a recent meeting, said the first wide, though followed by a Andrew Holland, CEO of earned rental income from an associate firm
be chaired by Union finance minis- person quoted above. At Monday’s swift rebound. Experts said Avendus Capital Alternate of Wockhardt Ltd that was investigated for
ter Nirmala Sitharaman, will con- meeting, the Council will take into markets were already in an Strategies, said Friday’s dip insider trading last year. >P15
sider a proposal to exempt overseas issue clarifications on helicopter anonymity. account suggestions on the issue overbought zone and hence was mainly driven by global
headquartered airlines’ reimburse- services for religious purposes to The Council will also consider a from state finance ministers. due for a correction. factors, with investors taking
ment of expenses incurred by their aid service providers. At present, a proposal to offer tax relief for pri- “A decision on the extent of rate “Such declines are always a profits ahead of key events. Hindustan Unilever panel to
Indian branch offices from the pur- concessional 5% GST rate applies to vate sector entities conducting core reduction—whether to bring it possibility in such a raging bull “All attention is on the US Fed- review its ice cream business
view of GST, one of the two people helicopter services for religious research and development activi- down to 12%, 5% or whether premi- market,” said Varun Saboo, eral Reserve’s policy decision
Hindustan Unilever Ltd is reviewing the future
cited above said. The International tours without credit for taxes paid ties which have no existing com- ums be exempt from GST, will head of equities at Anand and chairman Jerome Powell’s of its ice cream division, setting up a panel of
Air Transport Association (Iata) had on goods and services used in the mercial application, a second per- hinge on how much revenue states Rathi Shares & Stock Brokers. comments, as investors hope independent directors to assess the
said last month that the tax notices service. The Council may consider son said on the condition of ano- may be willing to forgo,” said the He viewed Friday’s fall as a the central bank stays ahead of prospects of the business, following its
were “flawed”, and not in line with a proposal to make the tax regime nymity. person. Earlier, transport minister passing one, where investors the curve before the economy parent company Unilever’s move to separate
global conventions in aviation. easier for the service providers, the “At present, such core research chose to be safe ahead of key its ice cream operations across markets. >P14
The Council is also expected to person said on the condition of projects undertaken by govern- TURN TO PAGE 13 data. As a result, they are cau- TURN TO PAGE 13
Can Sebi rap promoters over co’s Govt eyes the sky as onion
breaches? HC ruling casts doubt looms large over state polls
Priyanka Gawande & judgement highlighted the Dhirendra Kumar price spikes in previous years,
Neha Joshi need to shift from the concept [email protected] the government had also
of promoters to people in con- New Delhi imposed stock limits and pro-
Mumbai trol while fixing responsibility hibited onion exports.
M
for compliance. ore than a decade “The rainfall predicted in
A
recent ruling by the The case pertains to a Mum- since the Congress September could impact both
Bombay high court has bai resident who was made the party led by Sheila kharif and rabi onion crops,”
brought to the fore the promoter of a company with- Dixit lost power in Delhi, an said Vikram Gaikwad, an onion
Akasa Air has already replaced premium seats on most of its fleet question of whether the Securi- out his knowledge or consent. event partially blamed on sky- farmer from Maharashtra’s
and plans to complete the process by October. PTI ties and Exchange Board of In July 2018, the National Secu- high onion prices in the state, Ahmednagar. “Excessive rains
India (Sebi) should penalize the rities Depository Ltd (NSDL) no one wants to take a chance. may not only affect the kharif
say goodbye to
experts said. the court that the action against will hold assembly elections affect onion harvest. MINT rabi sowing. This could create a
“Sebi may consider revisit- demat accounts of two people him was taken because he was later this year, the Centre is rac- domino effect, disrupting the
ing its regulations regarding erroneously classified as pro- one of the promoters of a com- ing to gauge the likelihood of National Democratic Alliance is entire onion supply for
the freezing of demat accounts moters. The powers of the pany called Shrenuj & Co. Ltd, downpours that could destroy facing a stiff challenge from the months,” Gaikwad said.
B
arely months after and chief commercial officer of Khaitan Legal Associates. Legal experts said the pro- in the account. Shrenuj was the backdrop of excess rains damage, the government will 24.22mt in the 2023-24 crop
IndiGo set an aspira- Akasa, which offered an The court imposed a penalty moters of a company might not delisted in 2018 over non-pay- forecast for September, the likely sell onions from the cen- year from 30.28mt the previ-
tional tone for domestic upgrade to passengers who of ₹80 lakh on Sebi, the necessarily be the people mak- ment of penalties for failing to people cited above said on the tral buffer stock at subsidized ous year, according to data
low-cost airlines with plans to could pay extra for the larger National Stock Exchange of ing decisions. Amarpal Singh comply with Sebi’s Listing condition of anonymity. This is rates to curb inflationary pres- from the consumer affairs min-
offer business class luxury, seats with more legroom. India (NSE), and the BSE on 26 Dua, an independent advocate, crucial, especially since Maha- sures, one of the two people
Akasa Air and Air India Express While Akasa Air was pricing August for illegally freezing the said the Bombay high court’s TURN TO PAGE 13 rashtra, where the ruling mentioned above said. During TURN TO PAGE 13
are discarding the premium its premium seats at ₹3,500
seats they had inherited as they over and above its regular fare,
seek to improve operational Air India Express tagged its
efficiency.
Akasa Air, India’s newest air-
line that was co-founded by the
business class seats at about
₹16,000 in the Delhi-Mumbai
sector. That’s still lower than
Has social media broken the stockmarket?
late Rakesh Jhunjhunwala, has the ₹26,000 charged by its par-
already replaced premium ent entity, the Tata Group- A new paper by Cliff Asness, faster than in the past, and that years to near all-time highs.
seats on most of its fleet of two- owned full service Air India, for an illustrious quantitative is a kind of ‘efficiency’,” writes The flaw with this measure is
dozen aircraft with regular a business class seat on the investor, suggests the stock- Mr Asness. “But speed doesn’t that it can be skewed by a
economy seats, and expects to same route. market is an exception—a case imply the level of prices before changing market make-up
complete the process by Octo- “We would have replaced that holds appeal today, given or after the new information (tech firms tend to have higher
S
ber, a senior executive said. these business class seats ear- ometimes efficiency is the market madness of August was particularly accurate.” price-to-book ratios than
Air India Express has started lier itself if these replacements obvious. On a production and the recent rollercoaster Indeed, he points to evidence banks, for instance).
a similar retrofitting process, were available earlier,” a senior line for, say, chocolatey ride in the stock of Nvidia, a that accuracy has fallen. Another, more sophisticated
diverging from market leader Air India Express executive said treats, it is a series of whirring, tech giant. The reason for the One source of evidence is measure devised by Mr Asness
IndiGo’s bet that passengers on condition of anonymity. specialised machines busy stockmarket’s exceptional sta- so-called value spreads, which includes all kinds of definitions
will be willing to pay a premium “The seats were not available enrobing a biscuit in caramel, tus is, in part, because market compare what investors pay for of value by comparing prices
to travel business class even in due to supply chain issues and covering it in chocolate, and efficiency differs from produc- the priciest stocks to what they with earnings, forecast future
low-cost airlines. are available now. We have drying, packing and stacking tion-line efficiency. An effi- pay for the cheapest. The sim- earnings, cashflows and so on,
Akasa Air and Air India started to replace the seats on the product. For an office cient market is one where “pri- plest version just looks at the and only compares firms within
Express had inherited the busi- the aircraft now and will soon worker communicating with ces reflect all information”, In the 1990s, electronic trading was the norm, but it was a far cry price of a firm compared with an industry. This shows a simi-
ness class seats on Boeing 737 be able to replace it on all of colleagues it probably involves according to Eugene Fama, a from the nanosecond version that today dominates. AFP its book value (what it would be lar trend. However things are
Max aircraft that were tailored them.” email. In both cases, the pro- Nobel-prizewinning econo- worth if it were sold for parts). cut, it is much harder to find a
to the specifications of Chinese Air India Express did not cess has been made more effi- mist (and Mr Asness’s PhD There is also now more infor- way: they have brought down Using this measure, value reason why investors are will-
airlines that dropped their respond to an email sent on cient by technology. Across adviser). mation about any stock, which the cost of trading. spreads were stable between ing to pay today’s prices.
orders following fatal crashes Thursday evening. almost all industries the story, In the 1990s electronic trad- is disseminated more quickly. The trouble is that speed is the 1950s and the 1990s, before Mr Asness suggests three
involving the US-made planes. Aviation experts said that the since the industrial revolution, ing was the norm, but it was a Speed, competition and greater not precision. “It’s hard to spiking ahead of the dotcom explanations for the puzzle.
A trade war between the US has been one of tech boosting far cry from the nanosecond information have clearly imagine new information crash. They have since climbed
and China is believed to have TURN TO PAGE 13 efficiency. version that today dominates. enhanced efficiency in one doesn’t impact stock prices steadily over the past 20 or so TURN TO PAGE 13