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Indian Express
4 days ago
- Politics
- Indian Express
Ram Madhav writes: Mohan Bhagwat's '75 years' comment doesn't mean what you think it does
RSS sarsanghchalak Mohan Bhagwat is a forward-looking leader. Heading a consistently growing organisation that is entering its centenary year, Bhagwat has time and again indicated his outlook on how the RSS can remain relevant for current and future generations. When he speaks his mind, it is essentially about how he wants the RSS to tread in future. However, given the high-profile position he enjoys in public life, whatever Bhagwat says is sought to be interpreted in different ways. A recent comment by the RSS sarsanghchalak on the issue of retirement age led to several interpretations. The comment came at a function in Nagpur in which a book on the life and contributions of veteran RSS leader Moropant Pingle was released. Pingle was one of the organisation's senior functionaries and is widely regarded as the brain behind several mass campaigns the Sangh Parivar organisations undertook in the 1980s, like the Ekatmata Yatra and the Ram Janmabhoomi movement. Pingle was also known for his wit and wisdom. At the function, Bhagwat recalled one such repartee: 'Moropant Pingle once said that 'if you are honoured with a shawl after turning 75, it means that you should stop now, you are old; step aside and let others come in'.' The nature of the political discourse in the country today — which I am sure Bhagwat is not unaware of — is such that this anecdote was immediately interpreted as Bhagwat's advice to Prime Minister Narendra Modi. Funnily, Opposition leaders, whose parties are run by octogenarians, thought it wise to take potshots at the Prime Minister. Since this debate over the retirement of leaders at 75 keeps surfacing time and again, it may be pertinent to put it in its proper context. While Bhagwat's comment in Nagpur was anecdotal, his views on this matter seem to have been formed over the past three decades. It is known to insiders like us that as the sarkaryavah (general secretary) of the RSS from 2000 to 2009, and subsequently as the sarsanghchalak , Bhagwat made it his priority to change the organisation's age profile. The anecdote about Pingle, which must have been from the mid-1990s, seems to have influenced Bhagwat's thinking when he became the executive head at the relatively young age of 59 in 2000. This view was supported by his senior colleagues like H V Seshadri and M G Vaidya. Seshadri, who was widely regarded as the natural successor to the then chief, Rajendra Singh (Rajju Bhaiyya), decided to set an example by making way for K S Sudarshan, five years younger, for that high position. Vaidya, who functioned as the spokesperson before me, also insisted on seniors taking a backseat and promoting youngsters, and set a personal example. Encouraged by the support of such elders, Bhagwat set in motion the process of assigning important organisational roles to youngsters. I was myself an example of that transformation when I became the public face of the organisation as its spokesperson at 36. Guarded by relatively older leaders in the past, the RSS has metamorphosed into a body led more and more by younger people in the past two decades. Many provincial organisers are under 50 today while several national-level functionaries are under 60. That said, I must add that while there has been a concerted effort to rope in younger leaders at various levels in the organisation, there was never any 'rule' to deny the job to any functionary in the name of an age limit. No sarsanghchalak or sarkaryavah was asked to leave at 75. Founder K B Hedgewar and his successor, M S Golwalkar, passed away prematurely due to ill-health when they were 51 and 68, respectively. The next three chiefs — Balasaheb Deoras, Rajju Bhaiyya and Sudarshan — opted to relinquish their position on health grounds at the age of 79, 78 and 79, respectively. Bhagwat will turn 75 later this year. He is in sound health, and the organisation certainly needs his stewardship for many more years. In public life, the argument about age works both ways. Many global statesmen in the last century, like Mahatma Gandhi, Franklin D Roosevelt, Winston Churchill, Lee Kuan Yew, Deng Xiaoping and Nelson Mandela, who transformed their countries, led an active political life well into the evening of their lives. On the other hand, younger leaders like John F Kennedy, Angela Merkel, Barack Obama, Vladimir Putin, Xi Jinping and Narendra Modi, too, made yeomen contributions in their respective countries in recent decades. It proves what Walt Disney once said: 'Imagination has no age.' Former US president Ronald Reagan was famous for his humour. In the presidential election in 1984, Reagan's age, 73, became an issue. During one presidential debate, when asked whether he was worried about his age becoming a stumbling block in leading the country, Reagan responded by saying, 'Not at all. I also will not make age an issue of this campaign. I am not going to exploit for political purposes my opponent's youth and inexperience.' In governance, what counts is the experience and maturity of a leader. Bhagwat's comment may be understood in general as openness in allowing younger leaders to come forward. But to interpret it as directed toward a particular leader would amount to a misunderstanding of the nature of public life. In fact, our countrymen chose the current leadership despite 'younger' options being available on the other side since they believed that age cannot be the sole criterion. Given their dynamism and vision, besides the respect that they command among the masses, both Modi and Bhagwat are expected to lead in their respective roles for many more years to come. In fact, they must. After all, 'age doesn't matter, unless you are a cheese'. The writer, president, India Foundation, is with the BJP. Views are personal
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Business Standard
27-06-2025
- Business
- Business Standard
Sebi streamlines minimum information rules for RPTs from September
The Securities and Exchange Board of India (Sebi) has revised the minimum information that companies must provide to their audit committees and shareholders for the approval of related party transactions (RPTs). The new standards will come into effect from September 1. Sebi initially issued the minimum standards in February 2025. However, after consulting with industry players, the standards have been revised. The updates are based on feedback from industry associations such as Assocham, FICCI and CII. Under the revised standards, company management will be required to provide a certificate confirming that the terms of RPTs are in the best interest of the listed company. Additionally, a valuation or other report from an external party will also be mandatory. Gaurav Pingle, a company secretary, noted that the inclusion of the managing director, whole-time director or manager to certify that RPTs are in the company's interest is necessary, as many companies have promoters or executive directors on their boards. Previously, only the chief executive officer or chief financial officer were permitted to provide this certification. Furthermore, Sebi has now prescribed the content of the certificate. The audit committee may seek additional information if needed. This will include details of previous transactions with the related party, as well as the relationship and ownership structure of the entity. 'Sebi has streamlined the information required from management on related party transactions and included relevant details for decision-making. Additional details for transactions involving royalty payments have also been rationalised,' said Pingle. The 29-page document outlining the minimum information requirements also mandates the disclosure of the total amount of all transactions undertaken by the listed company or its subsidiary with the related party in the current financial year. Any defaults made by the related party during the last financial year must also be disclosed. 'The audit committee may, at its discretion, comment on the information provided by management. Such comments and the rationale for not approving an RPT shall be recorded in the minutes of the audit committee meeting,' the standards specify. 'This amendment, aligned with Clause 49 of the Listing Agreement and enforceable immediately with penalties under Section 11B of the SEBI Act, 1992, empowers audit committees and shareholders with enhanced transparency and accountability. It also strengthens corporate governance by fostering comparability and reducing the risk of manipulative transactions across the industry,' said Sonam Chandwani, managing partner at KS Legal & Associates. The standards specify different sets of information required for different classes of RPTs, which have been classified into seven categories. The market regulator has also outlined a set of minimum information requirements for material RPTs. The new standards will not apply to transactions entered into individually or those valued at less than ₹1 crore.
