By Varun Sngh

Rajyasabha MP, Subhash Chandra, has let out his Cuffe Parade bungalow to the Chinese Consulate.

The agreement was signed on June 29 between Subhash Chandra by his constituted attorney Bhaupatil Arote and Huang Xiang, the Vice Consul, for the Consulate General of The People’s Republic of China.

The bungalow let out to the Chinese Consulate General in Mumbai is located in Jolly Maker 1, one of the most sort out addresses in the city of Mumbai.

The deal was registered with the registration office in Mumbai on July 1, 2020, while the paper work was carried out on June 29.

Subhash Chandra on June 15, constituted a specific power of attorney to Bhaupatil Arote to carry out the leave and license work.

Relations between China and India has been growing bitter over the last few days. Especially after the Galwan valley clash, where 20 Indian soldiers were killed on June 15.

Post this, there has been a rise in anti-China sentiments in the country.

Industrialist like Anand Mahindra while replying to a jibe on Indian products by Chinese twitter handles had stated that such comments might well be the most effective and motivating rallying cry that India Inc. has ever received.

Industrialist Sajjan Jindal had tweeted against cheaper imports from China and asked for developing our own domestic vendors.

Coming back to the rent agreement between Chandra and the Chinese Consulate in Mumbai. The per month rent for the bungalow is Rs 4.90 lakh. The carpet area of the bungalow is 2590 sq ft and the Chinese Consulate will also get to use two covered parkings.

The rent agreement is for two years starting from July 1, 2020 and ending on June 30, 2022.

The Lock-In period is for nine months and to terminate the agreement each party has to give three months notice period.

The Chinese Consulate even paid Subhash Chandra Rs 58.80 lakh via a cheque. This amount includes nine months advance rent and the refundable deposit of Rs 14.70 lakh deposit.

The ground floor of the bungalow has a living room, and a kitchen, the first floor has three bedrooms and one child bedroom. While the second floor has one bedroom.

The bungalow can be used by the Chinese Consulate for its officers, staff, employees, and guests along with families for residential purposes only.

The agreement also has a diplomatic clause, which states, “If any decision taken by the Government of the People’s Republic of China or the Government of the Republic of India results in the closure of the office of the Consulate General of the People’s Republic of China in Mumbai at any time during the term (including the Lock-In-Period), the agreement shall stand terminated.

Emails, messages sent and phone calls made to Subhash Chandra seeking a response regarding the leave and license got us no response.

A detailed email sent to Chinese Consulate in Mumbai also generated no response.

Also Read: PMC Bank puts on sale a yacht and two aircrafts

The post Subhash Chandra rents his bungalow to Chinese Consulate appeared first on Square Feat India.

By Varun Singh

Larsen & Toubro, one of India’s leading multinational engineering, construction, technology, and financial services conglomerate has announced that it will reduce its dependency on imported products including that from China.

The company says that they are committed to achieving self-reliance for the domestic industry by creating a strong and feasible ‘Make in India’ ecosystem.

Explaining this, SN Subrahmanyan, CEO & MD, L&T, said, “With an unfortunate incident involving our brave soldiers at our border, sentiments are running high in the country. As a company involved in nation-building for more than eight decades, we firmly stand with the policy of manufacturing best-in-class products locally through ‘Make in India’.”

“We can drastically reduce our dependency on imported products including those from China by putting processes and systems in place to develop a large scale, efficient and cost-effective domestic industrial ecosystem over a medium to long term. The atmosphere is right for that and we should accelerate this. We are fully supportive of the Government of India’s initiatives and will do our best to contribute to Atmanirbhar Bharat Abhiyan,” added Subrahmanyan.

The company has been involved in developing a strong supply chain of local vendor partners in its businesses like it did for over 80% localization for its 155mm/52 calibre tracked, self-propelled ‘K9 Vajra-T’ guns, supplied to Indian army. It is also nurturing the local manufacturing and construction ecosystem involved in producing efficient and cost-effective substitutes for the global markets.

As a long-term proponent of Make in India, Larsen & Toubro has been contributing for almost all key engineering and technological developments in the country for over eight decades. It played a significant role in the construction of almost all nuclear reactors for the power generation. It is also at the forefront of construction of key national buildings, monuments and factories, construction of transportation and smart urban infrastructure, supporting defence forces by providing cutting-edge products and supplying critical components for Indian space programs.

Last week the apex developers body CREDAI had decided to reduce its dependency on Chinese imports.

With every passing day, the Anti-China sentiments are on a rise in the country, because of the way they are behaving.

There are two reasons for the Anti-China mood in India firstly the lockdown due to the Chinese Virus and secondly its interference at the Indian border.

Also Read: Builders opt for Swadeshi instead of Chinese imports

The post Anti-China sentiments on a rise, L&T to reduce dependency on Chinese products appeared first on Square Feat India.