8 Companies THE ECONOMIC TIMES | MUMBAI | MONDAY | 23 NOVEMBER 2015 Tata Hsg, Neptune to AFFIDAVIT IN BOMBAY HIGH COURT REVIVES MEMORIES OF FAMOUS CORPORATE BATTLE Develop City Project Once Upon a Time in Bombay
In his affidavit filed on the civil def- wife Amita Nayar Bajaj was then Realty cos join hands The Real Deal Sugata Ghosh & Maulik Vyas amation case, Bajaj alleged that the the Delhi Bureau Chief of The Af- The Project reports which appeared in The Dai- ternoon, another paper controlled to develop residential Mumbai: On August 17, 1993, The ly were part of an underlying busi- by Morarka, alleges that there were 1.2 m sq ft: Development Daily, a now defunct tabloid, pub- ness deal between Kamal Morarka hints that he could get into trouble project in 10 acres potential of the project at lished a string of reports about — the owner of the newspaper and if he did follow the instructions. Je- of land in Bhandup Bhandup Nusli Wadia, spread over the entire head of the construction and engi- sudasan and Neogi are not respon- front and back pages of the newspa- neering company Gannon Dunker- dents in the case filed by Wadia. ` : 12,500 per. The stories alleged that Wadia, ley — and Reliance Industries As per the affidavit, a few days af- [email protected] Rate per sq ft grandson of Muhammad Ali Jin- (RIL). The long and bitter tussle be- ter the reports appeared, Kalantri at which cos nah and chairman of Bombay Dye- tween Dhirubhai Ambani, RIL’s asked Bajaj to accompany him for a Mumbai: Tata Housing Develop- are launching it ing, was a Pakistani spy having founder and Nusli Wadia is part of meeting with Dhirubhai Ambani ment Company has entered into Action Plan links with Dawood Ibrahim, and corporate history. According to Ba- at the Reliance office in Maker IV, an agreement with Mumbai- Tata Housing to conceptualise, was involved in smuggling drugs jaj’s allegations, he was pushed into Nariman Point. Bajaj alleges that based real estate developer Nep- construct and market the project and laundering money through a carrying the reports by Anthony the elder Ambani complimented tune Group to jointly develop a bank in Nepal. One of the stories al- (aka Tony) Jesudasan and Deepak him on the articles. 10-acre residential project in Neptune Group will provide the so talked about his alleged associ- Neogi, who worked as PR officials of ET could not independently sub- Bhandup, an eastern suburb of land parcel and secure nods from ation with Anita Ayub, a Pakistani the undivided Reliance group, and stantiate or verify any of the allega- Mumbai, according to two per- civic authority starlet. This was five months after businessman Vijay Kalantri, who Nusli Wadia, Chairman, Wadia Group FILE PHOTO tions by Bajaj who refused to re- sons familiar with the matter. the Bombay serial blasts whose per- was close to Morarka and often spond to text message. Going by the Neptune Group will provide the cently with the final terms that petrators were widely believed to passed on instructions on his be- denied the allegations while Jesu- also went unanswered till the time affidavit, the obvious questions that land parcel and secure approvals provide for branding of the pro- have fled to Pakistan. half. Bajaj alleges that subsequent dasan and Neogi (who later left Re- of going to press. crops up are: first, why did Bajaj, as from the civic authority, while ject jointly by both the parties In October 1993, Wadia, who was to the publication of the reports, liance Industries to join the Anil The sequence of events, as alleged editor, let Reliance officials and Ka- Tata Housing, the real estate arm while sharing revenues in a cer- then rebuilding his textile busi- Gannon Dunkerley received sever- Ambani group) did not comment. by Bajaj, is outlined in the affidavit: lantri allegedly dictate the terms? of Tata Group, will take care of tain proportion,” said one of the ness and planning his moves to al orders from Reliance. “I am not aware of this affidavit but A day before the reports were pub- Second, what made Bajaj wait so conceptualisation, construction persons, who did not wish to be take control of Britannia, filed civ- When contacted by ET, both Mo- I am appalled to hear from you that lished, Kalantri visited Bajaj’s Dai- long to come out with what he claims and marketing the project. identified. To take the partner- il and criminal defamation suits rarka and Kalantri categorically Rajiv Bajaj has said this in the affi- ly office and handed him papers are the “true facts that led to publica- The project, estimated to have ship further, both the develop- against Rajiv K Bajaj, managing ed- davit. This is absolutely untrue. I signed by 72 members of Parlia- tion of the articles”? According to total development potential of ers were earlier also consider- itor, Phiroze J Dastur, printer and have never interfered with the edi- ment accusing Nusli Wadia of hav- the affidavit, Bajaj, who was in fi- 1.2 million square feet, has al- ing a space-sharing formula, Mohan Nair, publisher, and Daily KAMAL MORARKA torial functions of my newspapers ing multiple passports and being a nancial difficulties at the time of the Owner of The Daily ready secured all approvals to which did not materialise, the Printing & Allied Enterprises, the though I have always given my full drug dealer. Bajaj was told that the publication of the story, was assured commence the work. Construc- person said. corporate entity which owned ‘Dai- I am not aware of this af- support to my editors and this is to papers, purported to be findings of that his wife and daughter, who were tion of the project is expected to Email queries to both Tata ly’. Kamal Morarka’s company Na- the knowledge of Rajiv Bajaj,” said the Intelligence Bureau, were re- staying in Delhi then, would join be completed in four years. Housing and Neptune Group did landa Exports appointed advocates fidavit but I am appalled Morarka in an email to ET. ceived from the office of RIL and him in Mumbai once the newspaper The project on LBS Marg, once not elicit any response until late to represent the defendants. Kalantri, the chairman and MD of had been handed over to the then runs the stories. Bajaj, who is no known for industrial factories evening on Sunday. Like most defamation cases, this to hear that Rajiv K Bajaj Balaji Infra Projects and Dighi home minister Shankar Rao Chav- longer receiving any legal support but now transformed into a ma- The land parcel to be developed too, would have languished and Port said (in an email): “This dis- han. Neogi, who was then report- from his former employer, finally fil- jor residential hub, is expected to under the joint venture is part of been forgotten. But it didn’t. Last has said this. This is ab- closure looks highly imaginative ing to Jesudasan, handed over the ed the affidavit on the civil matter af- fetch revenue of `. 1,700 crore. 22 acres of land that Neptune week — more than two decades and I do not recall any such discus- articles, along with the headings ter reading a newspaper report that Ready apartments in the locality Group had acquired through an since the suits were filed — Bajaj, solutely untrue. I have sion or facilitation nor I had any- and blurbs, with the instruction the High Court has reopened the are priced at about `. 17,000-18,000 auction conducted in 2005. the then editor of The Daily, filed thing to do with The Daily.” that the pieces should be carried ad criminal defamation case after 15 per sq ft, while Tata and Neptune In one of the most expensive an affidavit before the Bombay never interfered with the Wadia group legal head Parveen litteram. Jesudasan, according to years. It was perhaps then that he are considering launching the land transactions then, the de- High Court, with allegations that Mahtani did not respond to text Bajaj, told him that if he did not panicked. In the affidavit Bajaj said project at `. 12,500 per sq ft. veloper had emerged as highest revived memories of the most cele- editorial functions messages from ET. publish the articles someone else he is willing to depose before the “The agreement was inked re- bidder with its bid of `. 101 crore. brated battle in corporate India. ET’s email to a spokesman for RIL in the Daily would. Bajaj, whose court and give evidence. Nilekani, Rohan Murty BIGGEST PHARMA DEAL IN THE MAKING Lawrencedale Contribute `. 1.5 cr for Agro Recasts Allergan’s Evolution and Ops to Scale Up Alma Mater’s Retirees Shonali.Advani @timesgroup.com KR.Balasubramanyam Pfizer’s $150-b Gambit @timesgroup.com provide the $45-billion Pfizer the Pfizer has been on the prowl for the Bengaluru: Lawrencedale [email protected] tax benefits of an Irish domicile. last two years after failing in its $118 Agro Processing India, a seller Bengaluru: Infosys cofoun- Experts noted that the moves of billion attempt to buy Anglo-Swed- of fruits and vegetables under der Nandan Nilekani and Ro- Mumbai: US drug giant Pfizer is re- the US Treasury department to ish drug maker AstraZeneca. the brand Leaf, is restructuring han Murty, son of the other In- portedly moving closer to sign a clamp down on inversion deals are Industry experts see Allergan as operations to speed up deliver- fosys cofounder N R deal to buy Botox maker Allergan unlikely to scuttle the deal current- a company addicted to doing ies and expansion. `. Narayana Murthy, have to- for $150 billion, or about 9,88,000 ly under negotiations between the deals. Led by CEO Brent Saun- The Ooty-based company is gether contributed `. 1.5 crore crore, in what would be the biggest two sides in what appears to be ders, who is seen as an aggressive- adopting a hub-and-spoke mod- towards a corpus that former transaction in drug industry so far. friendly settings. ly transformation expert, Aller- el in Bengaluru, Chennai and students of Bengaluru’s Bish- The deal, if concluded, will eclipse Last year, Allergan had fended gan has morphed from being Hyderabad to be managed by op Cottons Boys’ School are Pfizer’s $90-billion buyout of War- off a hostile and determined ac- an ophthalmic-focused drug firm distributors who will deliver building for retired staff ner Lambert in 2000. quisition bid from Canadian drug to a serious multiproduct brand- produce to retailers directly. members of the school. It would mark a peaking point for maker Valeant, before getting ed industry heavyweight through Until now, the company had
Murty and Nilekani are FILE PHOTO Irish firm Allergan’s history of acquired by Actavis in a $70.5-bil- a series of deals over the past been distributing fruits and among the scores of illustri- tens of acquisitions and selloffs and lion transaction. three years. vegetables from collection or ous citizens the school has tribute,” Murty said. “The distribution centres in each produced in its 150-year histo- fund is our way of express- city at a 10 km radius. Now, the ry. The alumni are confident ing our gratitude to our produce will be shipped to the the corpus will grow in size. teachers and other staff M&A Champion hubs in order to reach stores by An announcement about the members,” he said. 7 am, compared with 11 am pre- fund, and Nilekani’s anchor The fund is reflective of the Allergan’s Recent Deals viously, said KP Nair, founder donation of `. 50 lakh, was strong bond that exists be- and director of Lawrencedale. made by Aditya Sondhi, an- tween the school’s alumnus 2012 2013 2014 “We need to be there fresh at other old Cottonian, and ma- and staff in all ranks, includ- US generic drug maker Watson Actavis acquires Warner Valeant and hedge peak consumer hours in these naging trustee of General K S ing those worked as lab as- acquires rival Actavis for Chilcott for $8.5 billion, fund manager William areas.” Thimayya Memorial Trust at sistants, attendants, etc. “We $5.9 billion. Watson helping it to domicile in Ackman of Pershing It plans to set the school on Saturday. thought we should provide adopts the name of Ireland and pay lower Square Capital Manage- up 5-6 hubs in The co is in Murty, who announced a an opportunity for ex-stu- Actavis for future corporate tax rates as ment agree on a plan each city and advanced cheque of `. 1 crore, said dents to express their grati- operations compared to the US to buy Allergan has set aside `. 2 teachers and other staff tude and affection towards talks with crore for this members have given 30-40 the teachers and others,” Jul 2015 Jul 2015 Jun 2015 2014 2014 Grofers to restructuring. years of their life to the ser- said CN Kumar, a Cottonian supply its Founded in Allergan, minus the Allergan sells ge- Actavis Actavis Actavis ac- vegetables in vice of the school. “I was ve- from the 1970 batch and Nile- generics business, nerics business changes buys Al- quires Forest 2008, Lawrence- ry touched by the initiative. kani’s classmate. Kumar Bengaluru, dale has about acquires Oculeve for to Teva for name to lergan for Labs for Chennai and And, when I heard about runs a startup consultancy $125 million $40.5 billion Allergan $70.5 billion $25 billion 200 customer- Nandan’s contribution, I de- called Advantage Offshore Coimbatore contact points cided I should also emulate Knowledge Services, and across organised and small re- Jul 2015 Aug 2015 Sept 2015 Nov 2015 him. I hope more people serves on the Thimayya Me- tailers, hotels, restaurants and will come forward and con- morial Trust. Allergan buys two Allergan acquires Allergan acquires Allergan buys North- food processing companies in late stage drugs Naurex Inc for ophthalmic wood Medical eight cities. It sells 10-12 catego- from Merck for $560 million to bol- drugs startup Innovation, ries of vegetables. $250 million ster mental health AqueSys for an aesthetic Alongside, the company is in business $300 million device maker advanced talks with hyper-local delivery company Grofers to supply its vegetables in Bengalu- Allergan Over the Years ru, Chennai and Coimbatore, 1948 1950 1988 said a person aware of the devel- opments on condition of ano- Founded by Gavin Allergan Allergan ac- nymity. Grofers will sell produce Herbert, who owned Pharma- quired rights under its private label brand and a chain of drug stores ceuticals to Botox. the parties are negotiating the in Los Angeles. The launched US FDA had pricing, the person said. company marketed into eye originally Grofers did not immediately its fi rst nasal drop care approved the respond to an email sent by ET. branded as Allergan product to Lawrencedale also sells on on- treat lazy eye line grocery platforms BigBas- 1990s 2002 ket and LocalBanya. Botox injection was used to treat US FDA approved Botox for its use in The firm is backed by Aspada tight eyelid conditions, later it was removing wrinkles, leading to a strong Investment, an impact fund, found to remove wrinkles near the pick-up in demand for the product. Botox which put in $2 million in April eyes. Botox was extensively used by is also used to treat chronic headaches, 2013 for a 40% stake. It is in ad- skin specialists for off-label use overactive bladder and obesity vanced talks with investors to raise another round of funding of about $10 million.
Simplilearn Starts Staff Incubation Programme
Bengaluru: Simplilearn, a professional certi- fication platform, has started an in-house star- tup incubation programme to stem the outflow of its entrepreneurially-minded employees. “Over the last two years, we noticed about 15% of people across all levels leaving Sim- plilearn to set up their own venture,” said chief operations officer Gerald Jaideep. “But not many hit upon success.” Simplilearn re-hired these employees, and realised that it might as well allow employees to test the waters in house before they take the plunge to starting up. Jaideep said all CXOs of the company will be on the entrepreneurial panel, mentoring em- ployees on their next game plan. The idea could span across any sector and is not limited to the edtech segment that Simplilearn operates in. Other technology firms have also become forthcoming in supporting employees start their own ventures. Citrix launched an in- house accelerator programme for its employ- ees last year. Globally, Google’s policy of al- lowing employees to work on projects of their choice for 20% of their time has garnered much admiration from other companies.