Letters to the Editor

A Bright Future Beckons ARCs

This refers to your cover story on asset reconstruction companies or ARCs (Money from Junk, August 2). Globally, many "bargain hunters" have made fortunes by buying distressed assets for peanuts and selling them later at phenomenal rates. With the growing tribe of ARCs in India, the future of such companies looks bright. However, I feel the term "junk" used in the story seems to be a misnomer. Plants, buildings, machinery, stocks and other assets often have what is termed as a"balance future life" and, if sincere efforts are made for recovery, I feel they can be put to good use for quite a few years until they can be "milked" profitably. Bankers are partly to be blamed for creating a huge mass of NPAs by giving up recovery, rehabilitation and revival efforts which are difficult and time-consuming, compared to the ease of lending to meet new advances targets. It is high time a high powered committee of the RBI, bankers, and industry experts is formed to overhaul the system, formulate stringent policy guidelines, and ensure a healthy banking system or else be ready to face the consequences like the recent Greek tragedy in the near future.- J.S. Broca, New Delhi

Engaging Interview with Trout

This refers to your interview with marketing strategist Jack Trout (Staying Ahead in the Age of Competition, August 2). It was very interesting to go through, particularly his observation that it is the age of competition not alliances. Again, competitor orientation is more important than customer orientation for survival and that has been beautifully brought out.- T.V. Gopal, On e-mail

Skeleton in Marans' Cupboard

This refers to your corporate feature on the Sun Group (Darkness at Noon, August 2). It was a vivid description of the political clout and questionable activities of the Sun Group. No doubt the Maran family built a base initially with the active support of the DMK cadres. It helped them fight their competitors on the ground. They supported Stalin, the influential offspring of Karunanidhi, over his brother Azhagiri to extend their business frontiers. Marans also influenced public opinion through their news channels to suit their ends. Kalanidhi has the knack of remaining in the background and directing the course of events. He has sacrificed individuals for his business interests. The group is not a holy cow. The Marans and their associates should voluntarily come forward to prove their innocence instead of advancing arguments through their professionals as they are not above the law.- B. Rajasekaran, Bangalore

Hassle-free Net Connections a Must

This refers to your article on the Digital India programme (Packet Loss for e-India?, August 2). But Prime Minister Modi's scheme cannot succeed unless Internet reaches every nook and corner at cheaper rates and greater speed. Only a small percentage of the Indian population uses the Net now. To enhance its reach, free Net connectivity is vital in rural schools and colleges. Public sector enterprises, such as MTNL and BSNL, must provide hassle-free connections, while private players must reduce their costs.- Mahesh Kapasi, New Delhi