You may be better off buying a property in these countries than India !!
Author: Raoji
For Some strange reason beer commercials are always amongst the best ! (Hattip Satish Nagpal)
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Linkfest:Feb 19, 2013
Some stuff I am reading today morning:
9 point financial plan-Indian edition (CapitalMind)
Moodys cautions India on negative credit outlook (Mint)
Small investors stuck as open offers in limbo (BS)
Weak rupee takes shine off India’s gold buying (WSJ)
Sahara Parivar launches ad blitzkrieg (Moneycontrol)
The secret trading strategy from the 1930s (BusinessInsider)
Carl Icahn thinks selling diet shakes is a real good business (Dealbreaker)
Why poor people pay more bribes than rich people (Reuters)
Heinz: Buffett’s kind of deal (Dealbook)
5 Reasons not to buy gold (Barrons)
As a student of history, I marvel at how ironical the fates are.
This true story probably highlights the irony more than anything.
Sir Currimbhoy Ebrahim was one of the greatest industrialists of his era.His family were fabulously rich and wealthy and at one time (1920) held the second largest number of mills in Bombay.
Belonging to the Ismaili Dawoodi Bohra community, he harbored a desire to give back to the community.So he started the Currimbhoy Ebrahim Khoja Orphanage in 1894 for the welfare of orphans .
One of the most generous princes of the time, Maharaja Madhavrao Scindia of Gwalior donated the land for the orphanage.
Fast forward, more than hundred years later, the richest man in India, Mukesh Ambani wants to build a private residence for himself and his family.
He buys the property from the trust for 21.5 Crores in the year 2002.He builds a 27 storey building there called Antilla and starts living there (see photos)
So in a supreme irony of fate, the land which was meant by Sir Currimbhoy Ebrahim and Maharaja Madhavrao Scindia to be used for poor orphans is now being used legally by the richest man in the land.
This is India !!