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By:

Quaid Najmi

4 January 2025 at 3:26:24 pm

Curtains down on legendary actress Vijaya Mehta

She mentored actors like Nana Patekar, Anupam Kher Mumbai: The curtains fell for the last time on the Grand Dame of acting, Vijaya Mehta - one of India’s most acclaimed actresses, director, producer, writer and visionary – whose immense contributions to mainstream and parallel cinema and theatre influenced generations of actors and filmmakers. The National Award-winning actress passed away at her Mumbai residence late on Tuesday at 91. Her last rites were performed at the Shipdham...

Curtains down on legendary actress Vijaya Mehta

She mentored actors like Nana Patekar, Anupam Kher Mumbai: The curtains fell for the last time on the Grand Dame of acting, Vijaya Mehta - one of India’s most acclaimed actresses, director, producer, writer and visionary – whose immense contributions to mainstream and parallel cinema and theatre influenced generations of actors and filmmakers. The National Award-winning actress passed away at her Mumbai residence late on Tuesday at 91. Her last rites were performed at the Shipdham Crematorium in Goregaon east this afternoon in the presence of her family, a large number of film personalities and her admirers. Prime Minister Narendra Modi, Congress Leaders of Opposition Rahul Gandhi and Mallikarjun Kharge, CM Devendra Fadnavis and many other dignitaries paid rich tributes to Vijaya Mehta. Acting Institution Considered an institution in acting in her own right, Vijaya Mehta was a quiet but stern perfectionist who mentored some of the top actors like Nana Patekar, Anupam Kher, Neena Kulkarni and many others over decades. Fondly addressed as ‘Bai’ by her students and upcoming actors, Vijaya Mehta seamlessly combined intellectual rigours of a scholar and a sensitive artist, firmly believing that acting was not about applause but of truth, discipline and honesty before the audiences. Belonging to a bygone era when plays served as a vehicle to educate, provoke and transform society through stories, and over six decades, she came to be regarded as the ‘conscience keeper’ of serious theatre, long before ‘experimental theatre’ became a vogue. She constantly breathed new life into Marathi theatre in different ways that influenced new actors, directors and earned public approval. Born in Baroda State in 1934 at Vijaya Jaywant, she came to Mumbai at a young age and graduated from the University of Mumbai, with acting remaining her passion during her college days. She performed as Desdemona in a production of William Shakespeare’s 1604 classic play, “Othello” and her acting caught the eye of the renowned theatre guru, Ebrahim Alkazi, who trained and guided her. Rangayan Launched In 1960, Vijaya Mehta, along with other stalwarts like Adi Marzban, Vijay Tendulkar, Dr Shriram Lagoo and Arvind Deshpande, founded a theatre group, Rangayan. Meanwhile, in the mid-1950s she married Harin Khote, the son of the veteran actress Durga Khote, but after his sudden passing in 1964, she married theatre personality Farrokh Mehta a few years later. Jostling for space with the prosperous commercial theatre, over the years, it went onto produce many pioneering and influential plays earning itself a formidable reputation in ‘parallel theatre’ with bold themes, grandiose productions and exemplary performances that catapulted Marathi theatre to national repute. Several of her productions and directions became legendary – Ek Shunya Bajirao, Ajab Nyay Vartulacha, Hayavadana, Mudrarakshasa, Shakuntal, and Hamidabaichi Kothi, Mahasagar, Chairs – besides adaptation of several international classics, and each bearing her signature of meticulous preparations, sensitive performances and artistic excellence from all. Theatre to Cinema The full-house responses to her productions drew the attention of cinema and she ventured both in front of and behind the camera, in various capacities. Vijaya Mehta’s films ‘Rao Saheb’ (1986) for which she won the National Award for Supporting Actress that year, and ‘Pestonjee’ (1988) rank among the landmarks of parallel cinema for their subtle story-telling along with deep characterisation. As an actor, she gave some memorable performances in the much-applauded Govind Nihalani’s film ‘Kalyug’ (1981), “Mohan Joshi Hazir Ho!”, “Akriet”, “The Mist”, and a Mahesh Eklunchwar’s famed play “Wada Chirebandi” (1985), which she made into a television film, “Haveli Buland Thi” (1987). She also acted in the film “Party” (1984), also penned by Mahesh Eklunchwar. Over the years, she was decorated with many honours and awards, including the Padma Shri, Padma Bhushan, the Sangeet Natak Akademi Award, Sangeet Natak Akademi Fellowship, Kalidas Samman, Maharashtra’s highest cultural honours and numerous lifetime achievement awards. Vijaya Mehta: A taskmaster Film industry circles credit Vijaya Mehta not only for her own achievements, but also shaping generations of actors and film-makers to make them masters in the trade. Some of those whose skills she honed include: Nana Patekar, Anupam Kher, Neena Kulkarni, Mohan Agashe, Bharti Achrekar, Sonali Kulkarni, and in his early years, even Akshay Kumar benefited from her guidance and even from her autobiography, “Zimma: A Memoir” (2012). As news of her passing spread today, her disciples, Bollywood and Marathi film industry actors and legions of fans poured their emotions for Vijaya Mehta today on social media.

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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