19 February, 2015

What is the mystery behind AK Antony’s son's 33 loss making companies?

MobME (http://mobme.in) is a company based out of Cochin, Kerala. They have offices in Thiruvananthapuram, Gurgaon and Mumbai. They have been taking government projects from Kerala government and Central government for about 6-7 years now.

Few facts about MobME as available in media:

1) The Co-founder is veteran Congress leader A.K. Antony's son (Link).

2) Their promoter is one Jose Thomas Pattara (Link), an NRI who has direct connections with the Gandhis - Sonia, Rahul and Priyanka (Link). The Commissioner of Central Excise & Customs Kochi, vide its order 14/2011 dated September 30, 2011 has also imposed a penalty on Jose Thomas Pattara to the tune of Rs. 1,21,33,999/- (Link).

3) They survive on government projects and there seems to be no criteria chosen by the government regarding the tender or bids involved (Link). Interestingly, the MobME website gives no insights regarding their services and offerings other than a set of technical jargon. In none of the interviews, do any of the company officials explicitly mention what exactly they do - other than giving meaningless technical terms.

4) MobME wanted to launch an IPO for Rs. 25 crore and even started celebrating by calling themselves the first college start-up to go public. But it didn’t materialize and they had to take funding of USD 3 million from private investors (Link). They have a group of 43 companies, of which 33 are in loss (Link). This includes a fashion magazine, an e-commerce portal and a host of other verticals.

Few facts about Startup Village (http://startupvillage.in/):

1) Started in 2012 by Congress government in Kerala under PPP model - with MobME as it's private partner. As shown above, MobME is a highly incapable company which was not able to even get its IPO done, but government of Kerala has funded Rs. 500 crores to them for Startup Village (Link).

When there are other recognized bodies doing this on a national level, such as NASSCOM, why was the government keen on giving this to MobME - a company that had a revenue of Rs. 23.1 crore?

2) Inside Startup Village there exists 'Congress Companies' that do campaigns for Congress Party on social media. One such company, Riafy, came out with a 'study' that said 'all' tweets by right wingers are 'bots' and activists who are paid (Link).

3) Startup Village claims they have 500+ startups with them (Link). But a quick look at their websites (if there are any) shows that most of these companies are non existent.

4) Though they have people like Kris Gopalakrishnan as mentors, 99% of the companies in Startup Village have hardly seen him in person even once, forget being mentored by him.

Are they using his good will and reputation for their own private needs? Is this consensual or is he being tricked into it?

5) Andhra CM Chandrababu Naidu has already entered into an MoU with MobME for replicating the same in Andhra Pradesh. IT Minister Ravishankar Prasad has also announced more funds to Startup Village type ventures (Link).

In the light of the above mentioned facts, will the Narendra Modi led NDA order an inquiry into the same to uncover the real agenda and truth behind these ventures?


Anonymous said...

No news channels published this yet..are you sure these are true

Anonymous said...

After all what is Anthony' s connection. He is after all an honest person.If connected elaborate please