Mukesh Ambanis New House. Insane display of Wealth or sign of India's prosperity?

ajmat · 4th July 2007, 09:53

Lots of fun

court declares the skyscraper land as illegal and orders the Wakf to retake possession.

More here

cypher · 4th July 2007, 12:01

Answering the title of the thread - I would say "neither".

It's not an "insane display of wealth" - it's in proportion to how wealthy the Ambanis are.

And it's not yet a reflection of "India's prosperity" - that would be when most of our public spaces/property start looking like this building (or at least a shade of it)

scooby05 · 4th July 2007, 13:13

My answer to the tread is 'sign of India's prosperity'
all talk on this thread of Azeem Premji's earnings or Mukesh Ambani's plot are irrelevant IMO.
How many of us wonder on the kind of responsibilities they shoulder!!
They are amongst the BIGGEST INDIVIDUAL TAX PAYERS of our Country.
20000+ families live and grow, out of jobs from these individuals alone, individually.
They work on an Average 14 hours a day! if not more.
If at All, we can discuss about the politicians and Govt Servants most of who Do Not Work, and live out of the Exchequers Money, and go on and do an "insane display of wealth" and are never satisfied with the wealth they have created, again IMO.

If we dont have something someone else has, its because, we've not worked hard enough to get it!!
Luck only comes in after the Hardest of efforts!!
We discuss cars, in all its aspects, why dont we put in this extra effort on work and growth. From the 12000 odd forum users, I'm sure some more Ambanis and Premjis will emerge!!

Gods given 'Human' Beings the brains that differentiate it from other Beings, but God has also given US the Laziness, which He's not given to Other Beings!!
As a general rule, Indians are a very intelligent Race, But they utilise it fully only when they are NRI's[meaning when they are insecure, and dont have protection of some kind] and not when we are here in our own country!!

pjbiju · 4th July 2007, 21:09

Quote:

Originally Posted by scooby05

They are amongst the BIGGEST INDIVIDUAL TAX PAYERS of our Country. 20000+ families live and grow, out of jobs from these individuals alone, individually.

This is not true. The payment that Mukesh/Anil etc. get as their wages was only 7-9 crores per annum around 3 years back. That must have increased to 12-15 crores by now. Rest of their income come as dividends which are tax free. For many years, reliance used to pay a large part of their employees' salary as "reimbursements" - just to save tax for their employees.

Routing international calls as local/national calls and cheating BSNL of hundreds of crores - that is "theft" - a criminal offence.

The way Reliance has grown, if it is supporting several thousands of families, they are also responsible for the downfall of several others.

They want SEZ - governments to grab land from people and give it to them - but in return they would not guarantee any jobs.

There are so many such things - but then they have enough money to cover all such things up. The two brothers are just worried about "wanting to be bigger than the other" by any means.

As for the original question - it is their money. They can display it whatever way they want to. But IMO, it is just insane display of one's wealth - but then again, it is better to use all that money to fulfil some of one's dreams before one kicks the bucket.

Samurai · 4th July 2007, 23:47

Quote:

Originally Posted by pjbiju

This is not true. The payment that Mukesh/Anil etc. get as their wages was only 7-9 crores per annum around 3 years back. That must have increased to 12-15 crores by now. Rest of their income come as dividends which are tax free.

I thought we had put this mythical tax free dividends to rest.

Quote:

Originally Posted by pjbiju

They want SEZ - governments to grab land from people and give it to them - but in return they would not guarantee any jobs.

This is done by most IT companies, Infosys is leads this trend.

iraghava · 5th July 2007, 00:15

Pjbiju - Do read the thread in its entirety & you can see that there is no such thing as a tax free dividend. Before handing out the dividend the companies pay tax on them anyways & if it is taxed again from the individual then wouldn't it lead to double-taxation?

And in any case also notice how only Mukesh's name is mentioned with Azeem Premji and Anil's is not. There is a reason to that too. And let there be no doubt that these men have done a lot for a lot of people & their families, a lot of people have become rich because they are working with these two companies and are paid well under good working conditions.

mclaren1885 · 5th July 2007, 00:16

Quote:

Originally Posted by pjbiju

Routing international calls as local/national calls and cheating BSNL of hundreds of crores - that is "theft" - a criminal offence.

Its not reliance alone that did this. Operators like Hutch, Airtel too were involved in this scandal. And yes, BSNL has lost in tunes of crores by the time they figured this out.

Ishaan did you miss out KF man?

v1p3r · 5th July 2007, 00:32

Don't you have an RX100 or 135 or something? Buy an electric scooter if you're so worried about the environment.

iraghava · 5th July 2007, 02:08

Quote:

Originally Posted by sanjaymugur

4000 crores will eliminate our oil pool deficit....

So an individual who works his butt off should donate that money to reduce the oil pool deficit? What for? Aren't we taxed or harassed enough already by the Govt.? Do you have any idea of the kind of taxes we already pay for fuel? Ever tried setting up a new business & going through all the govt. regulations, approvals, registeration etc. & realised what a bunch of doo-hickey this priority to the SME sector is? All they do out there is create more problems than they can ever solve. Earning a living by being a businessman is a crime here since the govt. & it's employees automatically assume from day one that you're a thief out to make money by hook or by crook.

If it's that important then what about the Lakhs of Crores that get siphoned off due to corruption in Govt. agencies & in our Politicians & Bureaucrats? Are you saying that if I siphon off public money, buy my property & real estate in say Australia or Canada & deposit the rest in my Swiss bank account, that becomes acceptable because I can't be caught & prosecuted? What about the thousands of crores siphoned off in Defence deals every year or public works contracts? Or smuggled goods? Why doesn't anybody have a problem with that?

Our Politicians RULE us, rather than being servants of the public they are the MASTERS. Look at what happens when they have to go somewhere by road, you get stopped & inconvenieced, not them. They siphon off money, build palaces, buy unimaginable tracts of real estate in prime locations, travel in the swankiest cars and why don't people object to that? If you want examples look at people like Amar Singh, Mayawati, Chautala's, Devegowda's grandson etc.

Nowadays we have so many criminals as politicians and who protests that? Look at the Raja Bhaiyaa's, Mukhtar Ansari's, Shahbuddin's & Amarmani Tripathi's of politics and what happens to them when their party is in power, nothing. All the cases against them get dismissed & it's back to status quo. If a rival govt. comes in they get inconvenienced for a few years till they are in power & then what, nothing again.

Our leaders even have the guts to now openly indule in kabootarbaaji and what happens, nothing for so many years. Somebody finally blows the whistle and a few of them are caught. When the biggies travel with their massive contingents, does anybody ever check how many people they could have or already have smuggled abroad?

And then people say it's an insane display of wealth. Bull****, I say people harp on about people like Ambani because they don't have the ***** to raise voices against our dear politicans who do ten times worse in full view of the public. But of course they can't be prosecuted or ever found guilty of any crime or embezzlement of public funds, can they?

All this while a successful businessman is harassed since earning a living comfortably in India is a sin & to make everyone happy you should live poorly in shambles unless of course you bribe & grease palms at every corner after which you become a nice man who doesn't mind sharing the wealth with the poor govt. servants. I on the other hand am very happy to see that people who make money and pay their taxes have no problems flaunting it now and why should they? They earned it through their own efforts & hard work & they deserve to do whatever they want to do with it. If they wish to set fire to it, let them, it's their money after all & who the hell are we to play the moral police?

I like Vijay Mallya & enjoy watching how he goes about life. The guy has money, has no problem flaunting it in style - Cars, Planes, Yatchs, Beach Bungalows, Girls etc. Atleast the guy knows how to enjoy his life through his hard earned money & has no qualms about it or what anybody says about him. I also feel no shame in saying that if I become successful in life I wouldn't mind being like him (not that flash of course!) and living out a nice life!

YG, I'm still waiting!

*End of Rant*

sanjaymugur · 5th July 2007, 02:25

4000 crores will eliminate our oil pool deficit....

serious environment issue...

M K gandhi's statement makes sense...

" Mother nature can serve every man's need but not his greeds"

mclaren1885 · 5th July 2007, 02:43

Ishaan, that was really inspirational

. Bravo, Bravo. You must watch this movie called "ACCEPTED" you know. You could make a difference.

v1p3r · 5th July 2007, 04:49

Way to go, Ishan! *whistles*

Sanjay Mugur is reputed to have a quick RX 135. 4 speed, last I heard, with an expansion chamber, 3 mm port job on the exhaust, an aftermarket filter, and a bunch of other things.

Real example of a guy who should be talking about pollution and reducing the oil pool deficit.

moralfibre · 5th July 2007, 10:35

Ishan, what a speech

. I am sure you can direct "Rang de Basanti Part 2"!!
Pssst, do you have a hand in it? Great one buddy!

cypher · 5th July 2007, 10:51

Quote:

Originally Posted by iraghava

Our Politicians RULE us, rather than being servants of the public they are the MASTERS.

Well said Ishan.

The sad part is that, it seems a large part of our society accepts the notion that politicians are masters & rulers as long as those politician play Robin-Hood.

benbsb29 · 5th July 2007, 11:05

Well written Ishaan.. just what even i had in mind.

P.S. : Even i am an admirer of Vijay Mallya.

4th July 2007, 09:53	#76
ajmat Team-BHP Support Join Date: Feb 2004 Location: Bangalore Posts: 15,199 Thanked: 31,502 Times View My Garage	Lots of fun court declares the skyscraper land as illegal and orders the Wakf to retake possession. More here
	() Thanks

4th July 2007, 12:01	#77
cypher BHPian Join Date: Jul 2007 Location: Pune Posts: 152 Thanked: 4 Times	Answering the title of the thread - I would say "neither". It's not an "insane display of wealth" - it's in proportion to how wealthy the Ambanis are. And it's not yet a reflection of "India's prosperity" - that would be when most of our public spaces/property start looking like this building (or at least a shade of it)
	() Thanks

4th July 2007, 13:13	#78
scooby05 Senior - BHPian Join Date: Jul 2005 Location: Mumbai Posts: 1,146 Thanked: 194 Times	My answer to the tread is 'sign of India's prosperity' all talk on this thread of Azeem Premji's earnings or Mukesh Ambani's plot are irrelevant IMO. How many of us wonder on the kind of responsibilities they shoulder!! They are amongst the BIGGEST INDIVIDUAL TAX PAYERS of our Country. 20000+ families live and grow, out of jobs from these individuals alone, individually. They work on an Average 14 hours a day! if not more. If at All, we can discuss about the politicians and Govt Servants most of who Do Not Work, and live out of the Exchequers Money, and go on and do an "insane display of wealth" and are never satisfied with the wealth they have created, again IMO. If we dont have something someone else has, its because, we've not worked hard enough to get it!! Luck only comes in after the Hardest of efforts!! We discuss cars, in all its aspects, why dont we put in this extra effort on work and growth. From the 12000 odd forum users, I'm sure some more Ambanis and Premjis will emerge!! Gods given 'Human' Beings the brains that differentiate it from other Beings, but God has also given US the Laziness, which He's not given to Other Beings!! As a general rule, Indians are a very intelligent Race, But they utilise it fully only when they are NRI's[meaning when they are insecure, and dont have protection of some kind] and not when we are here in our own country!!
	() Thanks

5th July 2007, 00:15	#81
iraghava Senior - BHPian Join Date: Oct 2005 Location: Bhaiyyaland Posts: 7,993 Thanked: 281 Times View My Garage	Pjbiju - Do read the thread in its entirety & you can see that there is no such thing as a tax free dividend. Before handing out the dividend the companies pay tax on them anyways & if it is taxed again from the individual then wouldn't it lead to double-taxation? And in any case also notice how only Mukesh's name is mentioned with Azeem Premji and Anil's is not. There is a reason to that too. And let there be no doubt that these men have done a lot for a lot of people & their families, a lot of people have become rich because they are working with these two companies and are paid well under good working conditions.
	() Thanks

5th July 2007, 00:32	#83
v1p3r Senior - BHPian Join Date: Feb 2005 Location: BLR / DXB / LON Posts: 5,364 Thanked: 7,505 Times View My Garage Infractions: 0/1 (7)	Don't you have an RX100 or 135 or something? Buy an electric scooter if you're so worried about the environment.
	() Thanks

5th July 2007, 02:25	#85
sanjaymugur BHPian Join Date: Apr 2005 Location: Bangalore Posts: 262 Thanked: 57 Times	4000 crores will eliminate our oil pool deficit.... serious environment issue... M K gandhi's statement makes sense... " Mother nature can serve every man's need but not his greeds"
	() Thanks

5th July 2007, 02:43	#86
mclaren1885 BANNED Join Date: Jul 2005 Location: Bangalore (the city of modded cars) !! Posts: 4,818 Thanked: 46 Times View My Garage Infractions: 0/1 (10)	Ishaan, that was really inspirational . Bravo, Bravo. You must watch this movie called "ACCEPTED" you know. You could make a difference.
	() Thanks

5th July 2007, 04:49	#87
v1p3r Senior - BHPian Join Date: Feb 2005 Location: BLR / DXB / LON Posts: 5,364 Thanked: 7,505 Times View My Garage Infractions: 0/1 (7)	Way to go, Ishan! whistles Sanjay Mugur is reputed to have a quick RX 135. 4 speed, last I heard, with an expansion chamber, 3 mm port job on the exhaust, an aftermarket filter, and a bunch of other things. Real example of a guy who should be talking about pollution and reducing the oil pool deficit. Last edited by v1p3r : 5th July 2007 at 04:51.
	() Thanks

5th July 2007, 10:35	#88
moralfibre Team-BHP Support Join Date: Dec 2004 Location: MH-12 Posts: 8,565 Thanked: 14,474 Times	Ishan, what a speech . I am sure you can direct "Rang de Basanti Part 2"!! Pssst, do you have a hand in it? Great one buddy!
	() Thanks

5th July 2007, 11:05	#90
benbsb29 Team-BHP Support Join Date: Nov 2006 Location: Brisbane Posts: 10,103 Thanked: 14,200 Times View My Garage	Well written Ishaan.. just what even i had in mind. P.S. : Even i am an admirer of Vijay Mallya.
	() Thanks