Anti-corruption champion set to challenge India’s Modi

Anti-corruption champion set to challenge India’s Modi

Tuesday, March 25, 2014 – 17:26

AFP

VARANASI, India – The leader of a fledgling Indian anti-corruption party was expected to announce plans Tuesday to stand against election frontrunner and opposition leader Narendra Modi in the holy city of Varanasi.

Arvind Kejriwal, head of the Aam Aadmi (Common Man) Party, arrived in Varanasi on an overnight train from New Delhi and has called a rally for later in the day, according to a party spokesman.

“He has said very clearly that he will make an announcement about his candidature today,” the party’s national spokesman Deepak Bajpai told AFP.

“He has said that he will ask the crowd at his rally in Varanasi, and if they feel that he should, he will.”

Speaking on condition of anonymity, a senior figure within the AAP said he was “confident” Kejriwal would decide to challenge Modi, who is the main opposition Bharatiya Janata Party’s (BJP) pick for prime minister.

“Given the preparation… I feel that Kejriwal will announce his candidature against Modi,” the source told AFP.

Without confirming whether he was running against Modi, Kejriwal told media that his real aim was to challenge the ruling Congress party and the BJP, both of which had failed voters.

“It is not just about challenging Modi,” Kejriwal told NDTV en route to Varanasi. “People in this country don’t vote for a person, they become angry and vote against a person. I am saying this time let us defeat both political parties,” he said.

Although analysts say there is little likelihood of Kejriwal beating Modi, a challenge in such a high-profile constituency will guarantee maximum media coverage for him and his party.

The AAP, which is standing in its first general election, gained control of the Delhi state assembly in December after it rode a wave of anger about a series of corruption scandals.

Kejriwal, a former tax official turned corruption crusader and politician, himself briefly became Delhi’s chief minister after he unseated the incumbent Sheila Dikshit of the Congress party in her constituency.

India’s nine-phase general election begins on April 7 and ends on May 12 in the giant state of Uttar Pradesh, which includes Varanasi. Counting and results will be announced four days later on May 16.

 

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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