Indian Government try to take credit on Gandhi memorabilia

Indian business taycoon Vijay Mallya said that the Indian government has nothing to do with the bidding for Mahatma Gandhi's memorabilia and he bid on his own. "I bid independently. I wanted to get back the items to the country. I am not sure if anyone was aware that I was bidding," Mallya said.

Union Cultural Minister Ambika Soni claimed that the Indian government was in constant touch with Vijay Mallya throughout the auction. Mallaya, however, refused the government's claim, and said he acted on his own to get back Gandhi's belongings.

Mallya bought Mahatma Gandhi's five personal objects, including the iconic round eyeglasses, for 1.8 million dollars in a New York auction.

I am really proud on this tycoon for this cause, I thing this is done second because a few years ago he also take a historical sward from abroad.

Vijay Mallya – The Real Hero

Indian Business tycoon Vijay Mallya buys Gandhi items in New York auction, Items that belonged to revered Indian independence leader Mahatma Gandhi were sold at auction for $1.8 million to Indian tycoon Vijay Mallya who plans to donate them to his country.

The seller had tried at the last minute to withdraw the items -- Gandhi's trademark wire-rimmed glasses, worn leather sandals, a pocket watch and a metal bowl and plate -- after the planned sale caused uproar in India. But the auction in New York went ahead despite protests by the Indian government.

The items were sold by Antiquorum Auctioneers to Vijay Mallya, chairman of UB Group, said Tony Bedi, who bid for Mallya. Mallya, who as head of UB Group runs Kingfisher Airlines and United Breweries that owns Kingfisher beer, will donate them to India for public display, Bedi said. "I am sure all Indians will be pleased that these Gandhi items will be coming home," Bedi told reporters.

California-based collector James Otis, the seller, said earlier on Thursday that the items had been withdrawn. A lawyer for the peace activist said the sale was illegal. "I never intended for my actions to cause such controversy," Otis told reporters before the sale. "I pray the outcome is positive and one that Gandhi would approve of."

Indian politicians Shame……..shame ……….

Is IBM interested in Satyam?

World’s giant IT organization IBM is understood to be the front-runner to acquire Satyam Computer Solutions, a company it named as one of its main competitors in a filing to the New York Stock Exchange.

The IT giant, said sources close to the developments, has begun discussions with Satyam's government-nominated board and expressed its desire to acquire a majority stake in the company. A team of investment bankers and lawyers from the US and Europe has been brought in to assess the size of the deal and the risks associated with it. The company is also understood to have conducted an initial due diligence on some of Satyam's major customers.

A week ago, Minister of Corporate Affairs P C Gupta said the open bids would not be restricted to Indian players. IBM was named one of the hostile bidders for Satyam by promoter Ramalinga Raju at the company's December 16 board meeting. Other prominent players in the race are Larsen & Toubro, which owns 12 per cent in Satyam, and the B K Modi- owned Spice group.

If IBM wins the race to acquire Satyam, it will become the largest IT services player in India, with combined employee strength of over 125,000 people.