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Aajna Chakra

August 18, 2009

Green shoe Option (GSO).


This is a post listing price stabilizing mechanism, by which the company intends to ensure that the shares price on the Stock exchanges does not fall below the issue price.

The term “Green shoe option” derived its name from the company in US which excercised this mechanism for the first time.

The Securities and Exchange Board of India (SEBI) guidelines permit exercise of the greenshoe option by a company making a public issue. A pre-issue contract is required to be entered into for this purpose with an existing shareholder — often one of the promoters. The guide lines requires the promoter to lend his shares to be used for price stabilisation to be carried out by a stabilising agent on behalf of the company.

The stabilizing agent can be one of the lead book runner and the stabilization period can be for a period of maximum period of 30 days from the date of allotment of shares.

The company then goes on to make allotment, including over allotment, to the extent it has exercised the greenshoe option, which term incidentally has its origin in the name of a company that for the first time exercised such an option in the US. The proceeds of the public issue to the extent it relates to such over-subscription permitted by the greenshoe option is, however, kept in an escrow account to be used in the price stabilisation exercise (explained clearly how these funds are to be used).

Green shoe option is to be exercised in an IPO. The SEBI guideline requires the promoters of the company to lend some shares (the maximum upper limit being 15% of the total number of shares being issued through IPO) to the stabilizing agent whose duty is to monitor the post listing price of the companies share in the stock exchange.

How Green shoe option works?

The entire process of a greenshoe option works on over-allotment of shares. Say, for instance, that a company is planning to issue only 100,000 shares, but in order to utilize the greenshoe option, it actually issues 115,000 shares, in which case the over-allotment would be 15,000 shares. However the point that the company does not issue any new shares for the over-allotment should be noted.

The 15,000 shares used for the over-allotment are actually borrowed from the promoters with whom the stabilizing agent enters into a separate agreement. For the subscribers of a public issue, it makes no difference whether the company is allotting shares out of the freshly issued 100,000 shares or from the 15,000 shares borrowed from the promoters. Once allotted, a share is just a share for an investor.

For the company, however, the situation is totally different. The money received from the over-allotment is required to be kept in a separate bank account (which is GSO bank Account) .

The main job of the stabilizing agent begins only after trading in the share starts at the stock exchanges.

In case the shares are trading at a price lower than the offer price, the stabilizing agent starts buying the shares by using the money lying in the separate bank account. In this manner, by buying the shares when others are selling, the stabilizing agent tries to put the brakes on falling prices. The shares so bought from the market are handed over to the promoters from whom they were borrowed.

In case the newly listed shares start trading at a price higher than the offer price, the stabilizing agent does not buy any shares.

Then how would he return the shares? At this point, the company by exercising the greenshoe option issues new shares to the stabilizing agent, which are in turn handed over to the promoters from whom the shares were borrowed.

February 1, 2009

JOY OF WINNING 2ND http://inspi.re/halloffame.php?lid=0&xid=47

Suggested by jackie for The Simple Life. This competition closed 36 minutes ago.
looking in a window or out
The Simple Life has specific rules
No image editing of any kind. Was my first thought for this community, though it does seem too extreme. 
Very Basic editing IS OK.. Cropping, Red-eye removal, and straightening Only.. 
No fancy schmacy editing please, we don't all have access to the tools and knowledge. 
This is a learning curve community with the main aim, to be Fun. 
If you are kind enough to leave constructive critique, and use of photography Abbreviations, please explain them.. 
As some of us are not familiar with them. 
Ordered entries
The rank of these artworks is public. They either ranked in the top 3 or their author decided to share their rank publicly.
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Edgar Benavides entered this artwork into the competition
It ranked 1st out of 71, thanks to 52 vote(s) totalling 151 point(s).
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It ranked 2nd out of 71, thanks to 54 vote(s) totalling 150 point(s).
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It ranked 3rd out of 71, thanks to 58 vote(s) totalling 149 point(s).
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It ranked 4th out of 71, thanks to 54 vote(s) totalling 144 point(s).
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It ranked 6th out of 71, thanks to 49 vote(s) totalling 133 point(s).
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It ranked 8th out of 71, thanks to 51 vote(s) totalling 123 point(s).
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Christine Mary Cuthbert entered this artwork into the competition
It ranked 11th out of 71, thanks to 52 vote(s) totalling 120 point(s).

January 31, 2009

A Musical Journey From Rukmani To Jai Ho......


Allah Rakha Rahman's journey is no less incredible than that of the protagonist of Slumdog Millionaire. From a South Indian regional composer with a National award for his debut film 16 years back, Rahman has now won three nominations at the Oscars for his songs in a mainstream Hollywood film

Photobucket1966: On January 6, A.S.Dileep Kumar is born to R.K.Shekhar, composer-arranger in Malayalam films. His father passes away when Dileep is just nine. The family subsists on hiring out musical equipment to leading composers. 
Photobucket1977: Rahman joins Ilayaraja as keyboardist after training with Master Dhanraj. He also plays for M. S. Viswanathan and Ramesh Naidu and with Zakir Hussain, Kunnakudi Vaidyanathan and L. Shankar on world tours and soon obtains a scholarship from the Trinity College of Music in London, where he graduates with a degree in Western Classical music. 
Photobucket1989: The family converts to Islam and the boy is renamed Allah Rakha Rahman. Rahman becomes a keyboard player and arranger in the band Roots with childhood friend A.Sivamani. He is the founder of the rock band Nemesis Avenue and also plays keyboard, piano, the synthesizer, harmonium and guitar. 
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1991: Rahman starts a recording studio in his house and starts composing for jingles and television serials. 
Photobucket1992: Mani Ratnam, who has been watching Ilayaraja's assistant, gives him an independent break with Roja, the original Tamil film. A new style of music is introduced and in a first-time feat later equalled only by Ismail Darbar with the Hindi film Hum Dil De Chuke Sanam, bags the National Award for a debut score, the first of four. 
Photobucket1993: Roja is dubbed in Hindi and as it sweeps the charts, led by Dil hai chhota sa and the "item" song Rukmani Rukmani, Roja also brings into focus the hitherto-neglected talent of singer Hariharan, who is suddenly considered chart-friendly! With this score, Rahman forever changes the future of Hindi film music. 

His Tamil chartbuster that year is Thiruda Thiruda. 
Photobucket1994-1995: Two films of Rahman are dubbed in Hindi - his hit Kaadhalan as Humse Hai Muqabala and Bombay. More importantly, several music directors officially (The Gentleman) and otherwise (Angrakshak, Sabse Bada Khiladi et al) pilfer his Tamil hits. 

Duet, Indira and Muthu are his Tamil hits that year. And Rahman gets his first international honour - the Mauritius National award in 1995. In late 1995, Rahman writes history all over again with his debut original Hindi film, Rangeela. Asha Bhosle returns to high-tide with Yai re and Tanha tanha after a lull. 
Photobucket1996: More of Rahman's films are dubbed, with indifferent results except for Hindustani (Indian). 

But the Tamil scenario is still upbeat with Love Birds and Kadhal Desam. 

Rahman also scores the background music for his first crossover film Fire. And Minsaara Kanavu wins Rahman his second National award. 
Photobucket1997: Sapnay, the dubbed version of the 1996 hit marks the debut of singer KK with Strawberry aankhen, a top name today, and the breakthrough of Hema Sardesai with Awara bhanwre. It begins his long association with Javed Akhtar. 

Sony Music (now Sony-BMG) signs Rahman as their first-ever South Asian artiste for the hit album Vande Mataram. 

The Tamil hits include Iruvar, Aishwarya Rai Bachchan's debut. 
Photobucket 1998: The composer storms the charts with Mani Ratnam's first original Hindi film, Dil Se..., ending the struggle of singer Sukhwinder Singh with Chal chhaiyya chhaiyya, and the singer's association with him will now peak with the Oscar nomination for Jai ho from Slumdog Millionaire. The same is true of his journey with Gulzar, whose best phase as a top lyricist begins. The film also features his first song with Lata Mangeshkar, Jiya jale. Also released this year is Jeans. 
Photobucket1999: Rahman finally makes a proper pan-Indian breakthrough with Subhash Ghai's Taal, a musical love story that wins him his first Screen award. In the same year, Deepa Mehta's Earth is released in Hindi as 1947 with a highly-appreciated, underrated but not-too-popular score. These two films cement his association with Ghai and Anand Bakshi (till his death in 2002), Javed Akhtar and Aamir Khan. 

He also tours Germany with Michael Jackson in the Michael Jackson & Friends Concert. 
Photobucket2000: Rahman scores his first home production of a Mumbai hero - Anil Kapoor, in Pukar. This is also the first of his only two films with Phalke laureate lyricist Majrooh Sultanpuri. 

The Tamil side is noted for Kandukondain Kandukondain and Thenali. 
Photobucket2001: Lagaan, Aamir Khan's first film, wins him the National Best Music award for the first time for a Hindi film. Careful observers term this his most accomplished score in Hindi till then. 
Photobucket2002: Saathiya makes the industry take note of Kunal Ganjawala with O humdum suniyo re. There is also an evocative score in The Legend Of Bhagat Singh. 

Back home in the South, Rahman scores with Kannathil Mutthamittal and Baba. 
Photobucket2003-2004: The Rahman Hindi bandwagon hits a lull with dull scores like Tehzeeb, Meenakshi - A Tale Of Three Cities and Lakeer. But it ends on another high with Swades. 

Rahman get the rare honour of scoring for the Chinese film Warriors Of Heaven And Earth and Andrew Lloyd Webber's stage presentation Bombay Dreams. He backs out of Indian commitments like Dil Ne Jise Apna Kahaa and Kisna after recording a few songs. He also notches the highest tally among National award-winning composers with Kannathil Muthamittal, his fourth trophy. 

With Finnish folk music band Varttina, he scores music for The Lord Of The Rings, a theatre production, and also composes the piece Raga's Dance for Vanessa Mae's album Choreography. 

The whizkid is also appointed Global Ambassador to the WHO initiative, Stop TB Partnership. 
Photobucket2005: Rahman fails to recreate the period magic of his two earlier films with Mangal Pandey - The Rising and Netaji - The Forgotten Hero. But his two songs in Kisna are noticed. And for every low the composer gets a compensatory high: He inaugurates his state-of-the-art AM Studios in Chennai and Time Magazine lists Roja among the Top 10 Movie soundtracks of all time. 
Photobucket2006: Rahman composes the heady Daler Mehndi - Chitra sarson-sambar title-track for Rang De Basanti. Here begins another fruitful association - with Rakeysh Omprakash Mehra and lyricist Prasoon Joshi. 

Rahman also launches his own music label, KM Music, with his score for Sillunu Oru Kaadhal. He also gets an Honorary award from Stanford University for his contribution for global music. 
Photobucket2007: On his 42nd anniversary, he inaugurates the K.M.Music Conservatory. In a double whammy, Rahman grabs both Best Music and Best Background Score trophies for Guru from Nokia Star-Screen. He also scores the background music for Provoked and composes the third of Deepa Mehta's trilogies, Water. Rahman also co-composes Shekhar Kapoor's Elizabeth: The Golden Age. 

The home front is represented by the all-time blockbuster Sivaji - The Boss. 
Photobucket

2008: Jodhaa Akbar (for which he clinches another Screen trophy for Background Score) and Jaane Tu...Ya Jaane Na (for which he gets Screen's Best Music Award) are highs enough, but that great times are coming is evident from his tail-end 2008 release Ghajini becoming India's all-time biggest grosser. Slumdog Millionaire, his mainstream Hollywood film has won him a Golden Globe Best Music nomination and hosannas galore abroad including 10 other nominations and awards from various organisations for Best Score and Best Song. 

Photobucket2009: The incredible happens - in his birthday month, A.R.Rahman wins the two Screen awards mentioned above, the Golden Globe for the score of Slumdog.. and Best Music and two Best Song nominations for Jai ho and also O saya, for which he also co-writes lyrics. He is the first Indian to win three Oscar nominations. The Oscar is now a possible - no, make that likely - dream. 

And the journey continues..

January 26, 2009

Obama's Historic Speech

My fellow citizens:

I stand here today humbled by the task before us, grateful for the trust you have bestowed, mindful of the sacrifices borne by our ancestors.  I thank President Bush for his service to our nation, as well as the generosity and cooperation he has shown throughout this transition. 

Forty-four Americans have now taken the presidential oath.  The words have been spoken during rising tides of prosperity and the still waters of peace. Yet, every so often the oath is taken amidst gathering clouds and raging storms.  At these moments, America has carried on not simply because of the skill or vision of those in high office, but because We the

People have remained faithful to the ideals of our forbearers, and true to our founding documents. So it has been.  So it must be with this generation of Americans. 

That we are in the midst of crisis is now well understood.  Our nation is at war, against a far-reaching network of violence and hatred.  Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age.  Homes have been lost; jobs shed; businesses shuttered.  Our health care is too costly; our schools fail too many; and each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet.

These are the indicators of crisis, subject to data and statistics.  Less measurable but no less profound is a sapping of confidence across our land - a nagging fear that America's decline is inevitable, and that the next generation must lower its sights. 

Today I say to you that the challenges we face are real.  They are serious and they are many.  They will not be met easily or in a short span of time.  But know this, America -  they will be met. 

On this day, we gather because we have chosen hope over fear, unity of purpose over conflict and discord. 

On this day, we come to proclaim an end to the petty grievances and false promises, the recriminations and worn out dogmas, that for far too long have strangled our politics. 

We remain a young nation, but in the words of Scripture, the time has come to set aside childish things.  The time has come to reaffirm our enduring spirit; to choose our better history; to carry forward that precious gift, that noble idea, passed on from generation to generation:  the God-given promise that all are equal, all are free, and all deserve a chance to pursue their full measure of happiness.

In reaffirming the greatness of our nation, we understand that greatness is never a given.  It must be earned.  Our journey has never been one of short-cuts or settling for less.  It has not been the path for the faint-hearted - for those who prefer leisure over work, or seek only the pleasures of riches and fame.  Rather, it has been the risk-takers, the doers, the makers of things - some celebrated but more often men and women obscure in their labor, who have carried us up the long, rugged path towards prosperity and freedom.

For us, they packed up their few worldly possessions and traveled across oceans in search of a new life.

For us, they toiled in sweatshops and settled the West; endured the lash of the whip and plowed the hard earth.

For us, they fought and died, in places like Concord and Gettysburg; Normandy and Khe Sahn. 

Time and again these men and women struggled and sacrificed and worked till their hands were raw so that we might live a better life.  They saw America as bigger than the sum of our individual ambitions; greater than all the differences of birth or wealth or faction. 

This is the journey we continue today.  We remain the most prosperous, powerful nation on Earth.  Our workers are no less productive than when this crisis began.  Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year.  Our capacity remains undiminished.  But our time of standing pat, of protecting narrow interests and putting off unpleasant decisions - that time has surely passed.  Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America.

For everywhere we look, there is work to be done.  The state of the economy calls for action, bold and swift, and we will act - not only to create new jobs, but to lay a new foundation for growth.  We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.  We will restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost.  We will harness the sun and the winds and the soil to fuel our cars and run our factories.  And we will transform our schools and colleges and universities to meet the demands of a new age.  All this we can do.  And all this we will do.

Now, there are some who question the scale of our ambitions - who suggest that our system cannot tolerate too many big plans.  Their memories are short.  For they have forgotten what this country has already done; what free men and women can achieve when imagination is joined to common purpose, and necessity to courage. 

What the cynics fail to understand is that the ground has shifted beneath them - that the stale political arguments that have consumed us for so long no longer apply.  The question we ask today is not whether our government is too big or too small, but whether it works - whether it helps families find jobs at a decent wage, care they can afford, a retirement that is dignified. 

Where the answer is yes, we intend to move forward.  Where the answer is no, programs will end.  And those of us who manage the public's dollars will be held to account - to spend wisely, reform bad habits, and do our business in the light of day - because only then can we restore the vital trust between a people and their government.

Nor is the question before us whether the market is a force for good or ill.  Its power to generate wealth and expand freedom is unmatched, but this crisis has reminded us that without a watchful eye, the market can spin out of control - and that a nation cannot prosper long when it favors only the prosperous.  The success of our economy has always depended not just on the size of our Gross Domestic Product, but on the reach of our prosperity; on our ability to extend opportunity to every willing heart - not out of charity, but because it is the surest route to our common good.

As for our common defense, we reject as false the choice between our safety and our ideals.  Our Founding Fathers, faced with perils we can scarcely imagine, drafted a charter to assure the rule of law and the rights of man, a charter expanded by the blood of generations.  Those ideals still light the world, and we will not give them up for expedience's sake.  And so to all other peoples and governments who are watching today, from the grandest capitals to the small village where my father was born:  know that America is a friend of each nation and every man, woman, and child who seeks a future of peace and dignity, and that we are ready to lead once more. 

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions.  They understood that our power alone cannot protect us, nor does it entitle us to do as we please.  Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

We are the keepers of this legacy.  Guided by these principles once more, we can meet those new threats that demand even greater effort - even greater cooperation and understanding between nations.  We will begin to responsibly leave Iraq to its people, and forge a hard-earned peace in Afghanistan.  With old friends and former foes, we will work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet.  We will not apologize for our way of life, nor will we waver in its defense, and for those who seek to advance their aims by inducing terror and slaughtering innocents, we say to you now that our spirit is stronger and cannot be broken; you cannot outlast us, and we will defeat you.

For we know that our patchwork heritage is a strength, not a weakness.  We are a nation of Christians and Muslims, Jews and Hindus - and non-believers.  We are shaped by every language and culture, drawn from every end of this Earth; and because we have tasted the bitter swill of civil war and segregation, and emerged from that dark chapter stronger and more united, we cannot help but believe that the old hatreds shall someday pass; that the lines of tribe shall soon dissolve; that as the world grows smaller, our common humanity shall reveal itself; and that America must play its role in ushering in a new era of peace. 

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect.  To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West - know that your people will judge you on what you can build, not what you destroy.  To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history; but that we will extend a hand if you are willing to unclench your fist. 
To the people of poor nations, we pledge to work alongside you to make your farms flourish and let clean waters flow; to nourish starved bodies and feed hungry minds.  And to those nations like ours that enjoy relative plenty, we say we can no longer afford indifference to suffering outside our borders; nor can we consume the world's resources without regard to effect.  For the world has changed, and we must change with it.

As we consider the road that unfolds before us, we remember with humble gratitude those brave Americans who, at this very hour, patrol far-off deserts and distant mountains.  They have something to tell us today, just as the fallen heroes who lie in Arlington whisper through the ages.  We honor them not only because they are guardians of our liberty, but because they embody the spirit of service; a willingness to find meaning in something greater than themselves.  And yet, at this moment - a moment that will define a generation - it is precisely this spirit that must inhabit us all.

For as much as government can do and must do, it is ultimately the faith and determination of the American people upon which this nation relies.  It is the kindness to take in a stranger when the levees break, the selflessness of workers who would rather cut their hours than see a friend lose their job which sees us through our darkest hours.  It is the firefighter's courage to storm a stairway filled with smoke, but also a parent's willingness to nurture a child, that finally decides our fate. 

Our challenges may be new.  The instruments with which we meet them may be new.  But those values upon which our success depends - hard work and honesty, courage and fair play, tolerance and curiosity, loyalty and patriotism - these things are old.  These things are true.  They have been the quiet force of progress throughout our history.  What is demanded then is a return to these truths.  What is required of us now is a new era of responsibility - a recognition, on the part of every American, that we have duties to ourselves, our nation, and the world, duties that we do not grudgingly accept but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character, than giving our all to a difficult task.

This is the price and the promise of citizenship.

This is the source of our confidence - the knowledge that God calls on us to shape an uncertain destiny.

This is the meaning of our liberty and our creed - why men and women and children of every race and every faith can join in celebration across this magnificent mall, and why a man whose father less than sixty years ago might not have been served at a local restaurant can now stand before you to take a most sacred oath.

So let us mark this day with remembrance, of who we are and how far we have traveled.  In the year of America's birth, in the coldest of months, a small band of patriots huddled by dying campfires on the shores of an icy river.  The capital was abandoned.  The enemy was advancing.  The snow was stained with blood.  At a moment when the outcome of our revolution was most in doubt, the father of our nation ordered these words be read to the people:

"Let it be told to the future world...that in the depth of winter, when nothing but hope and virtue could survive...that the city and the country, alarmed at one common danger, came forth to meet [it]."

America.  In the face of our common dangers, in this winter of our hardship, let us remember these timeless words.  With hope and virtue, let us brave once more the icy currents, and endure what storms may come.  Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations.

January 24, 2009

Why the CIA does not want Dawood in Indian hands??




T
he role Dawood Ibrahim , the underworld kingpin who heads the D-Company and has known ties to Pakistan's Inter-Services Intelligence and even the Central Intelligence Agency, is apparently being whitewashed. His capture and handover to India might prove inconvenient for either the ISI or the CIA, or both.

It was Ibrahim who was initially characterised by press reports as being the mastermind behind the attacks. Now, that title is being given to Zaki-ur Rehman Lakhvi by numerous media accounts reporting that Pakistan security forces have raided a training camp of the group Lashkar-e-Tayiba , which evidence has indicated was behind the attacks. Lakhvi was reportedly captured in the raid and is now in custody.

At the same time Ibrahim's role is being downplayed, Lakhvi's known role is being exaggerated. Initial reports described him as the training specialist for LeT, but the major media outlets like the New York Times and the London  Times, citing government sources, have since promoted his status to that of commander of operations for the group.

The only terrorist from the Mumbai attacks to be captured alive, Ajmal Amir Kasab , characterised Ibrahim, not Lakhvi, as the mastermind of those attacks, according to earlier press accounts.

Kasab reportedly told his interrogators that he and his fellow terrorists were trained under Lakhvi, also known as Chacha(uncle), at a camp in Pakistan. Indian officials also traced calls from a satellite phone used by the terrorists to Lakhvi.

But the phone had also been used to call Yusuf Muzammil, also known as Abu Yusuf, Abu Hurrera, and "Yahah". And it has been Muzammil, not Lakhvi, who has previously been described as the military commander of the LeT. It was an intercepted call to Muzammil on November 18 that put the Indian Navy and Coast Guard on high alert to be on the lookout for any foreign vessels from Pakistan entering Indian waters.

Kasab told his interrogators that his team had set out from Karachi, Pakistan, on a ship belonging to Dawood Ibrahim, the MV Alpha. They then hijacked an Indian fishing trawler, the Kuber, to pass through Indian territorial waters to elude the Navy and Coast Guard that were boarding and searching suspect ships.

Although the MV Alpha was subsequently found and seized by the Indian Navy, there have been few, if any, developments about this aspect of the investigation in press accounts, such as whether it has been confirmed or not that the ship was owned by Ibrahim.

Upon arriving off the coast near the city, they were received by inflatable rubber dinghies that had been arranged by an associate of Ibrahim's in Mumbai.

The planning and execution of the attacks are indicative of the mastermind role not of either Lakhvi or Muzammil, but of Ibrahim, an Indian who is intimately familiar with the city. It was in Mumbai that Ibrahim rose through the ranks of the underworld to become a major organised crime boss.

At least two other Indians were also connected to the attacks, Mukhtar Ahmed and Tausef Rahman. They were arrested for their role in obtaining SIM cards used in the cell phones of the terrorists. Ahmed, according to Indian officials, had in fact been recruited by a special counter-insurgency police task force as an undercover operative. His exact role is still being investigated.

One of the SIM cards used was possibly purchased from New Jersey. Investigators are looking into this potential link to the US, as well.

Dawood Ibrahim went from underworld kingpin to terrorist in 1993, when he was connected to a series of bombings in Mumbai that resulted in 250 deaths. He is wanted by Interpol and was designated by the US as a global terrorist in 2003.

It Is believed Ibrahim has been residing in Karachi, and Indian officials have accused Pakistan's ISI of protecting him.

Ibrahim is known to be a major drug trafficker responsible for shipping narcotics into the United Kingdom and Western Europe.

According to the United Nations Office on Drugs and Crime, most Afghan opium (or its derivative, heroin, which is increasingly being produced in the country before export) is smuggled through Iran and Turkey en route by land to Europe; but the percentage that goes to Pakistan seems to mostly find its way directly to the UK, either by plane or by ship.

Afghanistan is the world's leading producer of opium, a trend that developed during the CIA-backed mujahedeen effort to oust the Soviet Union from the country, with the drug trade serving to help finance the war.

A known drug trafficker, Dawood Ibrahim is naturally also involved in money laundering, which is perhaps where the role of gambling operations in Nepal comes into the picture.

Yoichi Shimatsu, former editor of the Japan  Times, wrote last month after the Mumbai attacks that Ibrahim had worked with the US to help finance the mujahedeen during the 1980s and that because he knows too much about the US's 'darker secrets' in the region, he could never be allowed to be turned over to India.

The recent promotion of Lakhvi to 'mastermind' of the attacks while Ibrahim's name disappears from media reports would seem to lend credence to Shimatsu's assertion.

Investigative journalist Wayne Madsen similarly reported that according to intelligence sources, Ibrahim is a CIA asset, both as a veteran of the mujahedeen war and in a continuing connection with his casino and drug trade operations in Kathmandu, Nepal. A deal had been made earlier this year to have Pakistan hand Ibrahim over to India, but the CIA was fearful that this would lead to too many of its dirty secrets coming to light, including the criminal activities of high level personnel within the agency.

One theory on the Mumbai attacks is that it was backlash for this double-cross that was among other things intended to serve as a warning that any such arrangement could have further serious consequences.

Although designated as a major international terrorist by the US, media reports in India have characterised the US's past interest in seeing Ibrahim handed over as less than enthusiastic. Former Indian deputy prime minister L K Advani wrote in his memoir, My Country, My Life, that he made a great effort to get Pakistan to hand over Ibrahim, and met with then US secretary of state Colin Powell and then national security advisor Condoleezza Rice  (now secretary of state) to pressure Pakistan to do so. But he was informed by Powell that Pakistan would hand over Ibrahim only "with some strings attached" and that then Pakistani President Pervez Musharraf  would need more time before doing so.

The handover, needless to say, never occurred. The Pakistan government has also publicly denied that Ibrahim is even in the country; a denial that was repeated following the recent Mumbai attacks.

Others suspected of involvement in the attacks and named among the 20 individuals India wants Pakistan to turn over also have possible connections to the CIA, including Hafiz Mohammad Saeed, the founder of LeT, and Jaish-e-Mohammed leader Maulana Masood Azhar, both veterans of the CIA-backed mujahedeen effort.

Azhar had been captured in 1994 and imprisoned in India for his role as leader of the Pakistani-based terrorist group Harkut-ul-Mujahideen. He was released, however, in 1999 in exchange for hostages from the takeover of Indian Airlines Flight 814, which was hijacked during its flight from Kathmandu, Nepal to Delhi , India and redirected to Afghanistan. After Azhar's release, he formed JeM, which was responsible for an attack on the Indian Parliament in 2001 that led Pakistan and India to the brink of war. LeT was also blamed for the attack alongside JeM.

Both LeT and JeM have links to the ISI, which has used the groups as proxies in the conflict with India over the territory of Kashmir.

Saeed travelled to Peshawar to join the mujahedeen cause during the Soviet-Afghan war. Peshawar served as the base of operations for the CIA, which worked closely with the ISI to finance, arm, and train the mujahedeen. It was in Peshawar that Saeed became the protege of Abdullah Azzam, who founded an organization called Maktab al-Khidamat along with a Saudi individual named Osama bin Laden .

MaK worked alongside the CIA-ISI operations to recruit Arabs to the ranks of the mujahedeen. The ISI, acting as proxy for the CIA, chose mainly to channel its support to Afghans, such as warlord Gulbaddin Hekmatyar. The US claims the CIA had no relationship with MaK, but bin Laden's operation, which later evolved into Al Qaeda , must certainly have been known to, and approved by, the CIA.

But there are indications that the CIA's relationship with MaK and Al Qaeda go well beyond having shared a common enemy and mutual interests in the Soviet-Afghan war. A number of Al Qaeda associates appear to have been protected individuals.

Another former head of the ISI is now being privately accused by the US of involvement with the group responsible for the Mumbai attacks, according to reports citing a document listing former ISI chief Lieutenant General Hamid Gul and four other former heads of Pakistan's intelligence agency as being involved in supporting terrorist networks. The individuals named have been recommended to the UN Security Council to be named as international terrorists, according to Pakistan's The News.

The document has been provided to the Pakistan government and also accuses Gul, who was head of the ISI from 1987 to 1989, of providing assistance to criminal groups in Kabul, as well as to groups responsible for recruiting and training militants to attack US-led forces in Afghanistan, including the Taliban .

Hamid Gul responded to the reports by calling the allegations hilarious. The US denied that it had made any such recommendations to the UN.

But the US has similarly accused the ISI of involvement in the bombing of India's embassy in Kabul last July. This was unusual not because of the allegation of an ISI connection to terrorism but because it was in such stark contrast with US attempts to publicly portray Pakistan as a staunch ally in its 'war on terrorism' when the country was under the dictatorship of Musharraf.

The US attitude toward Pakistan shifted once an elected government came to power that has been more willing to side with the overwhelming belief among the public that it is the 'war on terrorism' itself that has exacerbated the problem of extremist militant groups and led to further terrorist attacks within the country, such as the assassination of former prime minister Benazir Bhutto  last year or the bombing of the Marriot Hotel in September. While the world's attention has been focused on the attacks in Mumbai, a bomb blast in Peshawar killed 21 and injured 90.

While the purported US document names Gul and others as terrorist supporters, another report, from Indian intelligence, indicates that the terrorists who carried out the attacks in Mumbai were among 500 trained by instructors from the Pakistan military, according to The Times. This training of the 10 known Mumbai terrorists would have taken place prior to their recent preparation for these specific attacks by the LeT training specialist Zaki-ur Rehman Lakhvi.

But while Lakhvi, Muzammil, and Hafiz Saeed  have continued to be named in connection with last month's attacks in Mumbai, the name of Dawood Ibrahim seems to be either disappearing altogether or his originally designated role as the accused mastermind of the attacks being credited now instead to Lakhvi in media accounts.

Whether this is a deliberate effort to downplay Ibrahim's role in the attacks so as not to have to force Pakistan to turn him over because of embarrassing revelations pertaining to the CIA's involvement with known terrorists and drug traffickers that development could possibly produce isn't certain.

But what is certain is that the CIA has had a long history of involvement with such characters and that the US has a track record of attempting to keep information about the nature of such involvement in the dark or to cover it up once it reaches the light of public scrutiny.

January 4, 2009

Madam Tussauds_ Vote for ARR

Madame Tussauds London will be launching an Indian superstar in Spring 2009. But who will it be?
As of now Rahman is trailing way behind by managing only 2% vote
Most importantly the vote is going on official site, and it will decide who will make it to the coveted league.
So all ARR fans take a shot and make our dream-come true.
So show our enthusiasm like we did it before in many instances
Let's not forget it is too big an event
So come on guys and vote like there is no tomorrow
see the link
http://www.madametussauds.com/London/NewsAndEvents/india2009.aspx
Always for ARR