Just two months ago, Pranab Mukherjee, FM ordered LIC to buy out ONGC shares ‘designated’ by worth at `12,000 crore and LIC bought them in just three hours post-lunch when the government discovered few hours before subscription closed that the government’s sale offer of ONGC shares was dismal from the market.
Pranab is not new to (mis)using his power, authority…and doing that royally with arrogance. Recall the 70s when Vimal–Reliance faced competition from Bombay Dyeing on the monopoly import and sale of polypropylene and how Pranab, the then FM openly sided with Vimal Dhirubhai who was the emerging competitor.
Pranab, with his misguided temper and proven illogical decisions, is the male version of Mamata Banerjee. No wonder both the Bengalis recognis each other well!
— Seshan S., Matunga