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By:

Quaid Najmi

4 January 2025 at 3:26:24 pm

CJP attracts 1.5 cr; new politics shaping up

Mumbai: Not from kitchen sinks, toilets or gutters — these two-legged ‘roaches’ have swarmed Social Media in millions through memes, live-streams, rap anthems and viral posts… and the country has begun taking note. On May 16, an unemployed youth, Abhijeet Dipke from Chhatrapati Sambhajinagar - currently job-hunting in Boston, USA, grabbed national attention after launching a digital platform called the “Cockroach Janta Party” (CJP), pitched as a democratic movement “of the youth, for the...

CJP attracts 1.5 cr; new politics shaping up

Mumbai: Not from kitchen sinks, toilets or gutters — these two-legged ‘roaches’ have swarmed Social Media in millions through memes, live-streams, rap anthems and viral posts… and the country has begun taking note. On May 16, an unemployed youth, Abhijeet Dipke from Chhatrapati Sambhajinagar - currently job-hunting in Boston, USA, grabbed national attention after launching a digital platform called the “Cockroach Janta Party” (CJP), pitched as a democratic movement “of the youth, for the youth, by the youth” targeting disillusioned Gen-Z Indians. To Dipke’s own surprise, the announcement exploded online. Within days, CJP has amassed nearly 1.5-crore followers on Instagram, over 40-lakh across other platforms, more than three-lakh registered members, and counting - despite allegations of account suspensions and restrictions. Ironically, CJP’s online numbers are being compared with the social media reach of the ruling Bharatiya Janata Party and the Opposition Indian National Congress - overtaking both, leaving political circles both amused and unsettled. On Thursday, at least one major social media platform briefly suspended the party’s accounts, while CJP supporters alleged hacking attempts on others. Yet, within hours, the page resurfaced with a sarcastic: “You thought you could get rid of us? LOL! Cockroach is back!” After flexing its digital muscle, the fledgling week-old outfit unveiled a basic charter of demands-cum-mini manifesto, along with a tickly political slogan: “Abki Baar, Cockroach Sarkar,” and aimed to capture “400-plus seats” in the next Lok Sabha elections. The CJP’s first political salvo was directed at Union Education Minister Dharmendra Pradhan over the alleged NEET examination paper leak controversy. “Governments make mistakes, but students pay the price. What kind of system is this? Why has the Education Minister not been sacked? Where is the accountability?” Dipke thundered from Boston during an online media interaction. The CJP’s memes have become a star attraction. One depicts a swaggering political cockroach dressed in Gandhi topi, kurta, angavastram and chappals before Parliament House; another shows a suited-booted cockroach delivering a corporate speech; yet another portrays giant roaches marching amid restless crowds. In one provocative graphic, a cocky cockroach is seen gleefully chewing up a giant lotus and relishing it - a not-so-subtle political jab. Dipke has proclaimed himself as the “Cockroach” and ditto with his followers, transforming the usually reviled six-legged arthropod into an unlikely mascot of survival and resistance. His legion of fans gleefully remind how cockroaches, believed to have existed for over 300 million years, can survive pesticides, extreme conditions and even nuclear disasters, besides online attacks! “The biggest complaint among young people is that nobody listens to them, nobody talks to them, and nobody even acknowledges their existence. And now they are being compared to cockroaches and parasites. Naturally, the youth are angry with the system,” Dipke said. A media strategist who reportedly worked for a couple of years with the Aam Aadmi Party, Dipke says the CJP plans to crowdsource its political agenda by asking supporters what issues the movement should prioritise and how citizens can collectively push for systemic change. ‘Cockroaches’ want to swarm Parliament The Cockroach Janta Party (CJP)’s anti-establishment rap anthem, pointed memes and online campaigns revolve around corruption, pollution, propaganda, unemployment and collapsing public systems that have left large sections of India’s youth disillusioned, angry and politically alienated. Its wishlist includes free world-class education, universal healthcare, clean rivers, safe drinking water, breathable air, and greater media accountability - promises that traditional political parties have made for decades, but which suddenly sound radical when articulated by self-styled “cockroaches” claiming to survive every form of rot and decay. Though many dismiss the CJP as a digital gimmick, some political observers believe this sudden rise of ‘cockroaches’ reflects growing public frustration not just with the ruling establishment, but also with the Opposition.

Lateral upgrade to ailing annihilation

Updated: Oct 21, 2024

Lateral upgrade to ailing annihilation

Being the first person from the private sector to be appointed as chairperson of Securities and Exchange Board of India (SEBI) as part of the government’s lateral initiative, Madhabi Puri Buch also holds the honour of being the first woman to hold the top post as capital market regulator.

But the laurels that the former private sector banker enjoyed in her earlier stint with ICICI Bank, was marred with allegations that she and her husband were having a stake in offshore entities, which were used to artificially inflate shares of Adani group companies.

Terming the allegation as `character assassination, Buch clarified that all disclosures have already been furnished and the fund in question did not invest in any securities involving the Adani group.

When it rains, it pours. This allegation was subsequently followed by Congress Party allegation that Buch had received salary and post-retirement benefits from ICICI Bank after she quit the private sector bank.

In its clarification to the stock exchanges, ICICI Bank asserted that the payments made to Buch were purely retirement benefits after her exit from the bank and they were neither salary nor employee stock options.

Prior to these allegations, Buch tenure at SEBI was all about bringing in quick reforms on operational issues by changing the format of consultation paper to bring in larger responses digitally. Being data savvy, the rationale of her decisions were democratic based on big data analysis derived from the responses received to the consultation papers.

Further she bifurcated the duties of the SEBI staff between operations and enforcement, which were done by the same persons earlier. Having worked for the private sector in the capital market domain space, Buch had a better understanding of the subject compared to officers from the administrative service in the past that reflected even in her orders as a whole-time director at SEBI before becoming the chairperson. As a whole time director at SEBI, her orders on adjudication issues were more directional to the capital market space, according to experts in the compliance space. She was also quick to revamp the old provisions of the 90s at SEBI.

Being tech and data savvy, Buch enhanced regulatory surveillance and detection of market manipulation, insider trading and fraud while also emphasizing on strengthening corporate governance by introducing stricter rules for independent directors and enhancing disclosures for related-party transactions.

To put in perspective, the annual report of the capital market regulator in the just concluded financial year revealed that the number of investigations related to insider trading jumped to 175 in 2023-24 from 85 in the preceding year while probes related to front running jumped over three times to 83 from 24 in the preceding year.

Transparency in mutual funds by implementing measures to protect retail investors along with tightening norms for initial public offers, particularly in the SME platforms were some of her other positive initiatives including confirmation of denial of any market rumours within 24 hours for the top 100 listed companies which will be extended to top 250 companies from December 1. However increased transparency and compliance with tightening regulations led to increased operational costs for the market participants and hence faced resistance from certain quarters. Born in 1966, Buch completed her primary education in Mumbai and graduated with specialization in Mathematics from Delhi and later obtained a management degree from Indian Institute of Management, Ahmedabad. In between, she got engaged to Dhawal Buch, a director at a consumer goods multinational at the age of eighteen and got married at the age of 21.

Besides ICICI Bank, Buch also worked as a lecturer at a college in England, worked at Greater Pacific Capital in Singapore and ICICI Securities as its CEO. She also worked as executive director on several private sector companies and as a consultant for New Development Bank (Brics Bank).

What now remains to be seen, is whether Buch, who survived the 26/11 terror attack when she along with her husband, was attending a meeting at Taj, be able to overcome the current ordeal. Keeping fingers crossed for the times to come.

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