A hint of a churn within the All India Anna Dravida Munnetra Kazhagam (AIADMK) in the past, and the "big brother" Bharatiya Janata Party (BJP) stepped in to sort out the impending turmoil and ensure that Tamil Nadu's principal Opposition party stayed united. The BJP could not countenance the idea of a split in the AIADMK between the competing factions led by former chief ministers O Panneerselvam (OPS) and Edappadi K Palaniswami (EPS), each of whom was convinced that he had the "right" to the political legacy of J Jayalalithaa. It is believed that in December 2016, following Jayalalithaa's death, the "compromise of convenience" struck between having OPS as coordinator and EPS as joint coordinator resulted from the BJP's intervention and exertion.
EPS never concealed his resentment at the idea of having a "dual leadership" to oversee the AIADMK and waited to strike back, unmindful of the BJP's watchful gaze. He mobilised a seemingly unassailable majority against OPS, organised a show of strength at the AIADMK's general council meeting on July 11 this year, terminated the dual leadership norm, amended the AIADMK's constitution, which was later submitted to the Election Commission, and expelled OPS and his supporters.
This story is from the August 08, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 08, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Suffering from lifestyle diseases? It's in the gut
Findings based on research conducted by microbiome-based company Leucine Rich Bio using its flagship technology BugSpeaks
BULLS TO DANCE ON D-STREET DESPITE HEADWINDS
Top-performing stocks across sectors may rise 20-40% over the next year, driven by earnings growth and bullishness on Dalal Street.
Investors in longer-duration debt funds need to be patient
Experts say while rate cuts remain on the table, their start is likely to be delayed
Predictions of normal rains a fillip for agrochem firms
Domestic companies may outperform exporters in March quarter and in FY25
Long runway of growth for AMCS
THE COMPASS Asset management companies are likely to report strong PAT growth in Q4FY24 on the back of AUM growth
IIFL Finance board clears rights issue to raise ₹1,272 cr
The board of IIFL Finance has approved a rights issue in the ratio of one equity share for every nine equity shares amid the continued ban on its gold loan business.
Asian mkts slip as Fed dithers on rate cuts
Asian stocks edged lower following hawkish comments by US Federal Reserve Chair Jerome Powell that helped fuel a third straight drop in the S&P 500 and saw two-year Treasury yields briefly climb to 5 per cent.
Global funds retreat from Asia's EMs
Global funds are retreating from emerging markets in Asia, with a five-month buying spree of stocks ending on scaled-down expectations for US rate cuts.
Advance-decline ratio set for best showing in a year
The advance-decline ratio (ADR), a barometer for overall market sentiment, has improved sharply this month amid a broad-based recovery in stock prices from their lows in March.
Modest rise in net SIP inflows as redemptions jump 54%
Net SIP inflows up 4.9%, even as gross collections rise 28%