Desi Talk - page 6

February 13, 2015
– that’s all you need to know
By David Henry
ditya Tomar, a JPMorgan
Chase & Co. vice president
for technology supporting
the bank’s asset-management
team, was among the six people
killed in the Feb. 3 commuter train
accident in NewYork’sWestchester
County. He was 41.
His death was confirmed in an
e-mailed statement from the
Manhattan-based bank. Tomar, an
Indian-born resident of Danbury,
Connecticut, was riding in the
front carriage when the train hit a
sport-utility vehicle that was
stopped on the tracks at a crossing
inValhalla. The first carriage of the
train was completely burned out.
“Aditya was an extraordinary
colleague,” JPMorgan said today
in the statement. “His leadership
skills, sense of humor and tireless
team spirit contributed to a better
workplace for all of us in
JPMorgan Asset Management.”
A second JPMorgan executive,
Joseph Nadol, a 42-year-old man-
aging director and analyst for the
aerospace and defense industries,
also was a passenger killed in the
“Our thoughts and prayers go
out to their families, and to the
many employees
who worked with
these colleagues
and knew them
well,” Jamie
Dimon, JPMorgan
chief executive offi-
cer, and John
Donnelly, the
bank’s head of
human resources,
said today in a sep-
arate statement. “It
is a terrible tragedy and loss.”
Tomar was previously a vice
president for Morgan Stanley capi-
tal-markets automated trading,
according to a profile
on He
also worked as a vice
president at NewYork-
based Sanford C.
Bernstein & Co. and for
Barclays Capital, sup-
porting electronic and
algorithmic rates trad-
He attended Miami
University in Oxford,
Ohio, and the Indian
Institute of Technology in Roorkee,
according to the LinkedIn page.
A Metro-North Railroad train
collided during rush hour Tuesday
Feb. 2 with a sport-utility vehicle
stopped on the tracks. The colli-
sion killed the driver of the SUV
and caused a fire that left five pas-
sengers dead. EricVandercar, a
senior managing director in insti-
tutional sales and trading at
Mesirow Financial in NewYork,
was a third financial industry
executive killed aboard the train.
Tomar and his wife, Reshma,
had no children, the Danbury
News-Times reported, citing his
mother-in-law, Dee Persaud.
– Bloomberg News
JP Morgan Executive Aditya Tomar Killed in New York Train Crash
By Ela Dutt
he Global Organization
for People of Indian
Origin, a volunteer body
with chapters in several
countries, recently took
the unprecedented step of
expelling several members on
grounds they held an illegal meet-
ing to form a parallel organization.
The GOPIO executive council
headed by President Ashook
Ramsaran expelled ExecutiveVice
President Sunny Kulathakal, Lord
Dilgit Rana, former president of
GOPIO, and four others – Ashok
Motwani, Chandu Patel, Sudha
Parekh, and Baby John, at a
meeting Jan. 16, alleging the
group had held an illegal meet-
ing earlier in the month in
Ahmedabad in violation of the
organization’s bylaws and con-
trary to its explicit directives.
During that Jan. 6 meeting,
the rebel group had impeached
and expelled Ramsaran from
the organization on grounds he
had not complied with the
GOPIO charter and that there
was a lack of transparency and
non-accountability in financial
management during his tenure.
The rebel group also appointed
Rana as the interim president
of the breakaway organization.
GOPIO’s expulsion of
Kulathakal and others was in
response to the rebel group’s Jan. 6
actions. “This extraordinary action
by GOPIO has been taken after
due deliberations with the intent
to protect the good standing,
integrity and by-laws of GOPIO,
consistent with our obligations in
the best interest of the organiza-
tion,” a press release said.
The executive council resolu-
tion also accused Kulathakal of
contributing to adverse media
publicity and maligning the repu-
tation of GOPIO and of abusing
his position. It also expelled all
those who became members of
the “illegally organized ad hoc
committee” which was formed at
the Jan. 6 meeting.
According to Inder Singh,
chairman of GOPIO International,
the turmoil was caused by a “few
disgruntled dissidents.” Ramsaran
said in a statement that “for the
sake of uniformity and compli-
ance across the spectrum of vari-
ous countries, it is necessary that
everyone must adhere to the poli-
cies and not create division on
whims and motivations which
weaken the organization.”
A general body meeting is
expected to be held this May 16 to
iron out differences and revisit
bylaws. Desi Talk interviewed sev-
eral co-founders of the organiza-
tion and learned from accounts of
both supporters and opponents of
Ramsaran that trouble had been
brewing in the organization since
the 2013 annual convention in
Sydney, Australia, when elections
for new office bearers were can-
celed and postponed to 2014.
In the meanwhile, attempts
were made to amend bylaws gov-
erning who could be elected presi-
Thomas Abraham, founding
chairman of GOPIO, claimed that
he stymied a new clause that
would restrict it to PIOs. “I raised
objection because more than half
of the GOPIOmembers are NRIs,”
Abraham said. The new rule
would have barred a large chunk
of the NRI members from the Gulf
region, including Kulathakal. It
was annulled, but it set off a
firestorm of accusations
against Ramsaran, which now
included his alleged arbitrary
appointment of some of the
new “international coordina-
tors” for some new chapters
and financial non-reporting.
Ramsaran and his team have
promised to submit accounts
of expenditures etc. within the
next few weeks. Meanwhile,
however, Kulathakal’s group
has filed a case against
Ramsaran in an Indian court.
Several nonpartisan mem-
bers were asked to conciliate,
including Dr. Sudhir Parikh,
publisher of Desi Talk and
recipient of the Padma Shri
and RamGhadavi, a co-
founder of GOPIO.
“I wrote an email to them
saying all this will destroy the
organization,” Gadhavi told Desi
In the mix is the matter of some
$30,000 of GOPIOmoney that
members are concerned about.
“There is legal action against
GOPIO which has to be addressed
in a legal way. So the money
($30,000) has been put in a legal
escrow account for which authori-
zation was given by the Executive
Council,” Ramsaran told News
India Times.
Some senior members want
Abraham to be more pro-active in
the conciliation process and help
bring Kulathakal to the bargaining
Abraham contends he has
tried. “While most of these people
have been brought (into GOPIO)
by me, I cannot control them. It’s a
democratic process,” Abraham
told News India Times. He says
he even negotiated a meeting
between the two sides. “I was
asked to conciliate and they
(Kulathakal et al) agreed to stop
the case (lawsuit) if the plaintiff
and defendant meet. But Ashook
backed out of the meeting. He
wanted the case to be withdrawn
first even though the plaintiffs
gave in writing that they would
withdraw the case,” Abraham
“Not accurate,” shoots back
Ramsaran. “They were supposed
to withdraw the case before the
meeting. The consensus
was that I would not attend
the meeting while the case
was pending. That is illegal
and I was not allowed by
my attorney to attend the
meeting,” Ramsaran said.
Jagat Motwani, a co-
founder who has worked
closely with Ramsaran
sounds pained.
“A lot of lies and fabri-
cations are going on and
it’s really making life very
difficult,” Motwani told
Desi Talk. “The criticism of
Ashook is wrong. He has
expanded GOPIO and
made it strong.”
Formed in 1989 origi-
nally to fight the discrimi-
nation faced by people of
Indian origin in countries like
Guyana, Suriname, Trinidad &
Tobago, Fiji and Mauritius, GOPIO
expanded its mandate to cover
Indians living abroad.
It brought issues of discrimina-
tion in Fiji and other places to the
attention of the United Nations
Human Rights Commission in
From the 1990s it took up ini-
tiatives like citizenship for people
of Indian origin which culminated
in the PIO Card and the OCI Card,
the demand for dual nationality,
and the successful campaign for a
separate Indian ministry for over-
seas Indians.
“It will be difficult to resolve
issues,” Motwani admits. “You
cannot stop rivalry and jealousy.
However, GOPIO’s base is good
and it will come through stronger.
But it has been hurt.”
GOPIO Expels Rebels Who Disrupted Organizational Unity
Ashook Ramsaran
Thomas Abraham
From News Dispatches
athewMartoma, the
SAC Capital Advisors
LP portfolio manager
who is currently serving time
has not given up on getting out
In a brief he submitted Feb.
2, to the Second U.S. Circuit
Court of Appeals Martoma
alleges that prosecutors exhibit-
ed “racial bias” when they dis-
missed the only Indian-
American prospective juror
before his trial, Law360 report-
ed in its online edition.
Martoma went to jail con-
victed on charges of using
insider knowledge gleaned from
a doctor involved in a secret
study of an Alzheimer’s disease
drug, to trade. He was accused
of earning some $275 million
for his firm and the jury found
him guilty on three counts of
conspiracy and securities fraud.
His was one of several cases
being pursued by hard-charg-
ing U.S. Attorney Preet Bharara
who has an unbeaten record of
prosecution of insider trading
Martoma’s latest brief which
included the “racial bias” allega-
tion, was submitted to reverse
his Feb. 2014 conviction,
Law360 reported.
Insider Trader Cites ‘Racial Bias’
in 2nd Circuit Court of Appeals
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