People
CNN-IBN Exclusive: Natwar Singh finally breaks his silence on the Volcker controversy after four months
New Delhi, April 27, 2006: In an exclusive interview with CNN-IBN and CNBC, ex-Union Minister Natwar Singh has finally publicly spoken about the Volcker controversy. Talking to Karan Thapar, Natwar rebutted allegations that he or Jagat have been evasive and perfunctory after the scandal broke.
Natwar Singh had given his resignation in December 2005 following a political storm in the wake of the Volcker controversy. The points Natwar Singh spoke about are:
About Volcker
– His concern that the Authority has asked for a six month extension.
– His refusal to accept that the noose is tightening around his neck.
– His response to the NDTV story that there is a contract between Andaleeb Sehgal and Masefield where Andaleeb’s company received US $ 150,000.
– His response to the CNN-IBN story that there is a contract dated August 21, 2001 number M/10/57 where Andaleeb has signed as a director of Masefield.
– His response to Jamil Saidi’s interview.
– His rebuttal that there could be any letters written by him to Tariq Aziz introducing Andaleeb and referring to oil transactions.
– His denial that Andaleeb Sehgal, Aditya Khanna and Jagat were fronting for him or he was using them as a shield.
– His response to the fact that all the leaks seem to be about him but not Congress, which is also accused in the Volcker affair.
– His insistence that after Pathak is finished and the ED investigation complete both he and Jagat will emerge unscathed. However, in the middle of this answer he does accept that the prolonged process has damaged his reputation in the public eye.
On the Indo-US nuclear deal, Nepal, Sri Lanka
– The fact that he has reservations which he describes as serious rather than niggling.
– That he is concerned about things Congressmen have said that suggest they want qualitative and quantitative caps on India’s nuclear deterrent.
– His concern with the nature of the US presidential waiver which he argues will not be a one-off but will be constantly necessary.
– His concern that the multiple levels of supervision could entrap India into the NPT without India formally signing on.
– His concern that both Senators and Congressmen are seeking quid pro quos in terms of India’s relationship with Iran for agreeing to the deal. Here he quotes Condoleezza Rice, Representative Tom Lantos and others.
– His claim that he has been proved right on Nepal.
– His belief that India needs to play a more active role in Sri Lanka.
– His claim that given the troubles in all the neighbours surrounding India this is a real challenge and test for Indian foreign policy
People
Senior exec Madhu Soman reflects on stepping away from Indian TV news
Sometimes the toughest story in a newsroom is the one about the newsroom itself.
MUMBAI: For Madhu Soman, a media executive whose career spans more than two decades at global news organisations including Reuters and Bloomberg, the decision to step away from India’s television news industry followed conversations with several leading networks.
Soman returned to India in 2022 to take up a senior leadership role in television news.
He transitioned to the business side of the industry in 2014, joining Bloomberg in Hong Kong to lead broadcast sales, news syndication and strategic partnerships across Asia-Pacific. He held the role for nearly eight years before returning to India.
“WION and Zee Business were the reason I chose to return to India after long years with Reuters and Bloomberg, transitioning from telling stories to selling them,” Soman said.
“The landing strip back home was always narrow, but it was one I was happy to take.”
The stint at Zee Media Corporation Ltd., however, proved shorter than expected.
“It didn’t take very long to realise that my runway within Zee (Media) was going to be rather short,” Soman said.
“Let’s just say I was a cultural misfit.”
Even so, he says the experience had its rewards, including exceptional colleagues and a few good friends.
After stepping away from the organisation, Soman was in discussions about potential roles.
“I spent the better part of the last two years in conversations with a few leading networks, long enough to realise the difference between being unemployed and being unemployable.”
Some of the feedback, he says, was unusually candid.
“Two of them informally told me I’m perhaps one of the best media executives in the television news business. But someone like me fronting a television news network would be considered a business risk,” Soman said in conversation with IndianTelevision.com.
For Soman, the implication was clear.
“A news network fronted by someone whose instincts were formed in journalism rooted in independence, accuracy and editorial distance from power was unlikely to find much favour with the powers that be.”
Beyond the personal dimension of his decision, Soman says the experience reflects broader pressures shaping the news industry today.
“Journalism’s job is simple: ask hard questions and hold power accountable. Keep it honest,” he said.
Quoting former Washington Post editor Marty Baron, he added: “We’re not at war with the government. We’re at work.”
“That principle applies to anyone in a position of influence, whether in government, business, sport or entertainment.”
At the same time, he says the industry faces growing pressures.
“Authoritarian regimes that resist scrutiny, along with rapid technological change including AI, are reshaping and often undermining journalism’s traditional business model.”
“There’s also a growing credibility deficit, as the race for eyeballs rewards whoever delivers the news first rather than whoever confirms it best.”
Having worked on both the editorial and commercial sides of the industry, Soman says he is acutely aware of the economic realities media organisations face.
“Running a media organisation today means being a pragmatic P&L owner. The challenge is to keep investing in strong journalism while making the economics work at a time when a growing share of the industry’s revenue is increasingly being captured by technology platforms.”
“If we drop the ball on accuracy and trust, we do a grave disservice to the democracy we’re meant to serve.”
His experience straddling both content and commerce has shaped his view of how the industry must evolve.
“Good journalism and good business strategy are not opposites,” he said.
“The best media businesses are built when editorial integrity, audience trust and sustainable economics reinforce each other.”
“And ultimately, none of it works without strong teams. Leadership in media is as much about building people and institutions as it is about building products.”
Soman is now preparing to return to his hometown of Trivandrum, barely four years after returning to India.
“Delhi NCR has a way of testing your patience, your stamina and occasionally your sanity,” he says. “But it also leaves you with stories that will last a lifetime.”
“So as I pack up and head home to Trivandrum, I do so with no complaints and no regrets.”
“I didn’t sell my soul. Some things, after all, aren’t for sale.”
Soman’s reflections underscore the tensions between editorial independence, commercial realities and political pressures shaping television news today. His experience offers a window into the challenges facing media leaders navigating a rapidly changing industry. For him, the decision marks a moment to step back after decades spent across global newsrooms and media businesses.
