Tipu Sultan’s legacy continues to endure

[email protected] (The Hindu)
May 5, 2015

Mysuru, May 5: The death of Tipu Sultan on May 4, 1799, brought to close a fascinating chapter in Indian history; but his legacy continues to endure notwithstanding the controversy surrounding him in the present times.

tipuThough it has been 216 years since the death of Tipu Sultan, historians are unanimous in pointing out that his initiatives in the socio-economic fields have continued to endure, though these were fast fading from public memory.

The expansion of sericulture in the Mysuru region has been credited to Tipu Sultan. The Mysore Gazetteer notes that Tipu secured the know-how from Bengal and introduced mulberry cultivation in 21 centres. In what could be described as a step to encourage local industry, he banned the export of cotton to ensure that local weavers were not denied the raw material.

The introduction of sugarcane on a large scale has also been attributed to Tipu Sultan for which he secured the assistance of Chinese experts, according to the Gazetteer, which notes that quality sugar and candy were produced with their assistance.

During the pause between the various wars he fought, Tipu Sultan took some reformatory measures including a ban on alcohol. Cattle being closely linked to agriculture, Tipu Sultan encouraged livestock breeding. Hallikar and Amrit Mahal breeds are believed to be products of this initiative.

Rocket technology

Modern day historians also credit Hyder Ali and Tipu Sultan with an elementary knowledge of missile or rocket technology, which is considered to be the prototype of present-day missiles and rockets. They were put to full use during the wars with the British. Some of these have been preserved at the Royal Artillery Museum in England. The paintings at Dariya Daulat, the summer palace of Tipu Sultan at Srirangapatana, are a clear indicator of the use of these missiles in wars.

A courtyard within the ruins of the Srirangapatana Fort was identified by archaeologists as the possible spot from where the missiles were launched. Scientists from DRDO have also visited the spot on many occasions in a bid to ensure better maintenance. Plans for a ‘missile museum’ are yet to materialise.

Rally, tributes mark death anniversary

Rallies were held and tributes offered to mark the 216th death anniversary of eighteenth-c entury warrior king Tipu Sultan in Mysuru and his erstwhile capital Srirangapatna near here on Monday.

While Congress leaders gathered at the office of the Mysuru City (District) Congress Committee on Sayyaji Rao Road in the morning and garlanded the portrait of Tipu Sultan on his ‘Shaheed Diwas’, large number of people paid tributes to Tipu Sultan at Srirangapatna.

Rallyists led by Kannada protagonist Vatal Nagaraj, who arrived in Srirangapatna from Bengaluru, offered floral tributes at the site near the northern fringe of the fort, where Tipu’s body was found in 1799, and Gumbaz, where his mortal remains are buried. Activists of the Kannada Chaluvali Vatal Paksha (KCVP) from Bengaluru accompanied Mr. Nagaraj, who made stop-overs at Ramanagaram and Mandya enroute to Srirangapatna to address the public.

Mr. Nagaraj said the commitment of Tipu Sultan, known as the Tiger of Mysore, was so strong for his land that he even pledged his children for the sake of the country and its people. “A statue of Tipu should be built in front of Parliament. I will speak to the Lok Sabha Speaker and leaders of other political parties in this regard,” he said.

Mr. Nagaraj also demanded that the road leading to Devanahalli, Tipu’s birthplace, be named after him. He also urged the State Government to build a memorial for Tipu Sultan on 500 acres of land in Bengaluru.

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Sandra
 - 
Friday, 4 Mar 2016

Thanks for finally writing about >Tipu Sultan’s legacy continues to endure

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News Network
March 30,2020

Bengaluru, Mar 30: Coffee Day Enterprises Ltd (CDEL) has received the first tranche of Rs 2,000 crore following disinvestment of Global Village Techparks to repay debts following the death of its founder V G Siddhartha.
In August last year, CDEL executed definitive agreements with entities belonging to Blackstone Group and Salarpuria Sattva Group for investment in GV Techparks, a wholly-owned subsidiary of group company Tanglin Development Ltd (TDL), at an enterprise value of Rs 2,700 crore.
The balance amount is expected to be received after the receipt of few statutory approvals, CDEL said in a statement.
"Out of the money received in first tranche, the company has paid off its debts in full including principal and interest amounting to Rs 1,644 crore to the lenders despite difficult economic conditions," it said.
Post this payment, the consolidated debt of the company and its subsidiaries stands at Rs 3,200 crore as on March 27. This includes debt of Rs 1,400 crore of its subsidiary Sical Logistics Ltd where disinvestment process is in progress.
"The company and subsidiaries have repaid around Rs 4,000 crore to the lenders since the beginning of this financial year," CDEL said.
"With the continuous support of stakeholders of the company, the current management is working to ensure better liquidity and operational efficiency. The company is confident of the future ahead despite various challenges," it added.
The company has been in rough waters after its founder V G Siddhartha took his own life as debt strains began to emerge in his company. Since his death in July last year, CDEL has been trying to divest its assets to pare debts.
On July 30, 2019, CDEL informed stock exchanges about Siddhartha's disappearance. In a letter that was purportedly written by him, the Cafe Coffee Day founder said: "I could not take any more pressure from one of the private equity partners forcing me to buy back shares."

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News Network
April 21,2020

Bengaluru, Apr 21: An FIR has been filed against a Kannada TV anchor allegedly for organising a guest packed wedding at a resort near Bengaluru last week amid lockdown to contain the spread of coronavirus.

Police got the tip-off about the event held on April 18 by locals residing near the resort. Around 20 people were present there to attend the wedding.

The FIR has been filed under National Disaster Management Act (NDMA) and Section 188 and 269 of the Indian Penal Code.

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KT
April 12,2020

Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.

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