The New Year has begun indifferently for Citi CEO Vikram Pandit. A FIR has been registered against him in Gurgaon for a cheating committed by Shivraj Puri, a Relationship Manager of Citi.
It is very strange that the one of the victims Sanjay Agarwal has requested the Police to file the FIR against Pandit. The FIR also includes some Top Management of Citi including its Chairman William R. Rhodes, CFO John Gerspach and COO Doughlas Peterson.
Since, the details of the case are not fully available, I don’t want to discuss about the case here. I only have a problem with the Indians always going for the head instead of looking at the Heart of the problem.
The Body and Soul are two different things and so are the entity and the person running a business. Unless it is proved that the Top Management of Citi (in this case) was directly or indirectly involved in the wrong-doings committed by their staff or committed an act of criminal negligence, it is highly illogical and unjust to investigate them or even register a FIR against them.
For each and every issue whether in politics, sports or such scams, the Indians always want the Top guy answerable. The media normally spices things up, as they did with the Bhopal Gas Tragedy. They all want former CEO of Union Carbide Corporation, Warren Anderson’s extradition so that he can be tried in an Indian Court for the Union Carbide Gas Leak. Thankfully, in the Citi case, the Media has gone soft on Pandit. Is it because he is an Indian or is it because the media has realized that it is illogical to question the Top for each and everything that is happening. Even the US Government did not sue Vikram Pandit for all the losses, bad assets and Investments of Citi, which resulted in many Investors losing their money in 2008.
The complainant Sanjay Agarwal is seen in every TV Channel giving his version of the story. I watched one such program yesterday on NDTV. I feel pity for him as he claims that he has lost all his life-time savings of around INR 30 crores. No Investor will put all his eggs in one basket. I do not buy many of, his side of the story. He has many questions to answer. I too am working for an ultra HNI for many years. I know how things happen and what steps we take to ensure everything is done properly as promised or agreed upon.
To request the Head of the Citi to be questioned is only an exercise to sensationalize the issue and get some media attraction. We Indians always like to bring down the people who are in the Top and laugh at them. It is a shame that such things are still happening in India. When anything happens in any department of a Ministry, immediately, the opposition demands a reply from the Prime Minister. In some extreme cases, they even demand the resignation of the PM on moral ground. This has been the case for many years in India, irrespective of which Party or Alliance is ruling or part of the opposition. When the Indian Hockey Team was not performing well, there was a demand to remove the then Hockey Chief of India KPS Gill.
One always needs to go to the heart of the Problem and not demand the removal of the head. In Mahabharata, Karna aimed for the head of Arjuna, when his charioteer Shalya asked him to aim at the heart of Arjuna. We all know what happened next. So I guess aiming for the head as always been part of Indian history. That is why perhaps most of us give more respect to the brainy than to the one with good heart.
It is very strange that the one of the victims Sanjay Agarwal has requested the Police to file the FIR against Pandit. The FIR also includes some Top Management of Citi including its Chairman William R. Rhodes, CFO John Gerspach and COO Doughlas Peterson.
Since, the details of the case are not fully available, I don’t want to discuss about the case here. I only have a problem with the Indians always going for the head instead of looking at the Heart of the problem.
The Body and Soul are two different things and so are the entity and the person running a business. Unless it is proved that the Top Management of Citi (in this case) was directly or indirectly involved in the wrong-doings committed by their staff or committed an act of criminal negligence, it is highly illogical and unjust to investigate them or even register a FIR against them.
For each and every issue whether in politics, sports or such scams, the Indians always want the Top guy answerable. The media normally spices things up, as they did with the Bhopal Gas Tragedy. They all want former CEO of Union Carbide Corporation, Warren Anderson’s extradition so that he can be tried in an Indian Court for the Union Carbide Gas Leak. Thankfully, in the Citi case, the Media has gone soft on Pandit. Is it because he is an Indian or is it because the media has realized that it is illogical to question the Top for each and everything that is happening. Even the US Government did not sue Vikram Pandit for all the losses, bad assets and Investments of Citi, which resulted in many Investors losing their money in 2008.
The complainant Sanjay Agarwal is seen in every TV Channel giving his version of the story. I watched one such program yesterday on NDTV. I feel pity for him as he claims that he has lost all his life-time savings of around INR 30 crores. No Investor will put all his eggs in one basket. I do not buy many of, his side of the story. He has many questions to answer. I too am working for an ultra HNI for many years. I know how things happen and what steps we take to ensure everything is done properly as promised or agreed upon.
To request the Head of the Citi to be questioned is only an exercise to sensationalize the issue and get some media attraction. We Indians always like to bring down the people who are in the Top and laugh at them. It is a shame that such things are still happening in India. When anything happens in any department of a Ministry, immediately, the opposition demands a reply from the Prime Minister. In some extreme cases, they even demand the resignation of the PM on moral ground. This has been the case for many years in India, irrespective of which Party or Alliance is ruling or part of the opposition. When the Indian Hockey Team was not performing well, there was a demand to remove the then Hockey Chief of India KPS Gill.
One always needs to go to the heart of the Problem and not demand the removal of the head. In Mahabharata, Karna aimed for the head of Arjuna, when his charioteer Shalya asked him to aim at the heart of Arjuna. We all know what happened next. So I guess aiming for the head as always been part of Indian history. That is why perhaps most of us give more respect to the brainy than to the one with good heart.
Posts
No comments:
Post a Comment