ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Strange Accounting

tractors (the low ceilings on land in various States will be a contributory factor to this), and will prefer to get their work done by custom units having specialised implements. Such custom units are sprouting up everywhere and in the near future these will be the BUSINESS THE battle for the control of National Rayon has been joined between Chinais and Kapadias. Kapadias already claim to control more than 50 per cent of the voting power through shareholdings and proxies; as the even keener Synthetics proxy fight showed control of 40 to 45 per cent of the voting power would be sufficient to change management. Kapadias have said that Chinais 'hold' only 3 per cent of voting power, though this is no index of their control of voting power. Besides, Chinais certainly appear to have the backing of the Industrial Establishment as evidenced in the support extended to them by, for instance, Mafatlals.

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