Home   |    About Us   |    Subscribe   |    Advertise   |    THF Team   |    Contact Us   |     Feedback

THEORY I MANAGEMENT

Issue - 01/03/2013
More Categories
   Home >> THEORY I MANAGEMENT >> Case Study >> REWRITE THE CODE
   Case Study
 
REWRITE THE CODE
The case discusses the hypothesis that the organizational culture does not only shape an individual’s work culture; rather top leadership moulds the organisational culture itself.
K.K. Srivastava, | Issue Date - 01/03/2013

Share |

 

The Jupiter stock gained 11.4% on the day the company announced Vivek Paul’s appointment as the Co-CEO and head of its marketing operations. Paul, simply VP for his colleagues, is credited for much of Jupiter’s stellar growth in the late nineties. He is equally respected in the industry and among investors. Shareholders have, in fact, welcomed VP’s induction as a grand win for Jupiter Technologies.
Jupiter’s is India’s first IT Company and its biggest too-with a revenue figure of $8.7 billion out of a total size of $50 billion in 2008. But its net profits fell by 7% in the first quarter, and a further 6% in the three months to June. The company had gone public in 2004. It gave a smash hit in that year, but has failed to come up with a follow up performance. This has led to a murmur of disquiet among shareholders.
 
Background
Indian IT and ITES Companies accounted for revenue in excess of $40 billion in 2007. The software and services exports grew by 29% to register revenue of $40.4 billion, up from $31.4 billion in 2006. Overall revenues are expected to grow at 21-24% in 2008. Indian companies, however, have been slow to shift to high-end services and so far this year no significant contracts have been signed by any Indian major, including Jupiter. Many of the reasonably sized to big ticket contracts (upward of $50 million) have gone to MNC service providers like IBM, Accenture, HP-EDS, et al. The latter have now developed a well rounded global delivery network as opposed to just an off-shore model in select countries, as Indian players have done; plus they are savvy marketers.
 
In the past, the Indian IT model grew based on cost savings and quality. The companies wee small, nimble, and highly adaptive. During the same period, MNC’s learnt from their younger model. Using Indian workforce, these companies checkmated the low cost-high value competitive advantage of Indian companies. MNCs tend to sell a superior value proposition due to their deep knowledge and ability to provide end to end services. Indian majors, on the other hand, lack the ability to offer well integrated services. Add to this the fact that the MNCs have better marketing muscle. Better interaction at the customer level, much higher brand salience, and the damage to Indian players becomes more profound.
Indeed after years of strong growth, the top twenty Indian IT companies record a 24% growth in 2000 is a sharp drop from 41% in the year previous to that. And of the top 20 IT companies that did maximum business in the domestic market, 16 were non-Indian.
 
Jupiter earned a profit of $1 billion in 2007 and is expected to earn revenue (sales) of under $9 billion in 2008. But it is like a small speck on the global outsourcing horizon dominated by MNCs. Since VP was appointed Head-marketing, the company has introduced a new model with 5 groups and about 20 semi-autonomous units that came into integrated, customer centric units to enhance customer focus, drive operational agility, and address growth opportunity. While the headcount is growing, the company has decided to offer element based pricing (i.e for processing, payment per invoice claim, and so on) and not headcount based. While the company expects to gain by this practice, even for the customer, fixed costs have been converted into a variable expenses, benefiting them too.
 
In fact, while virtually all Indian tech companies are facing tough times due to current economic crises in the US, on which they are heavily dependent, Jupiter’s record has been the poorest. The utilization (i.e. percentage of billable employees) is down  mostly. Remember, every 1% increase in Jupiter’s global utilisation can impact its operating margins favourable by about 0.75%. This went down to 70% in June 2008 for the industry. But Jupiter could use only 68% of its employees for billable work.
Another indicator: This year of the 74 Indian business super brands- the ‘Oscar’ in the world of branding-seven were IT companies. NIIT, Infosys, and the other familiar names were there, with one notable exception-Jupiter. ‘Super brand’ status is accorded to brand that offer their customers significant functional and emotional advantage over competitors through great brand development and management practices. This status has helped brands create a marketable differentiator. 71% of respondents in a survey said they were more likely to buy a superbrand.
 
Hand over the baton?
The Board decided in early 2008 in favour of a change in command. And having a numbers oriented executive at the top excited Jupiter watchers, eager for a trimmer yet more profitable company. VP is expected to make it more about sales, simply by virtue of the reason that Jupiter has to compete. Paul rose through the ranks of the Jupiter salesforce, a notably different career path than Ramadoss, the sole CEO until recently, who was recruited as a developer after his majors in Physics, electronics and computers. The latter was asked to share the top job with VP, an IT marketing guy, in April 2008. This sharing fed an irresistible narrative in financial markets: The software egghead who shoveled cash into new projects has yielded to the uncompromising money maker.
 
The company is indeed shifting towards a greater focus on the bottomline, and less on multimillion investments in technology, even if it helped Jupiter become the market leader in the lucrative field of software. The goal, evident it is, for Jupiter is to show that it not only can produce sophisticated software but also reward its shareholders by doing well, and more importantly, better than its arch rival Mars Corp., a competitor with which it is always benchmarked. Mars achieved a pretax profit margin of about 35% in 2007, well ahead of that for Jupiter. This is one of the reasons why Jupiter’s stock prices have always languished behind since it went public in 2004, despite years of sales growth. Jupiter controls a larger market share than Mars. But investors are concerned with margins.
 
Speaking at a technology conference in Bangalore in Feb ’08, Ramadoss hinted that Jupiter could hit 35% operating margin figure easily, the number that was later endorsed by Vivek in May ’08 at the annual analysts’ conference in Mumbai. He had said that the target could be achieved in the medium term which could mean anything from 3-6 years. This should compare favourably with the historical figure of 32-35% for Mars.
 
The Men at the helm
Ramadoss (Ramu, to his friends) had joined Jupiter in 1972, a time when computers were bulky and temperamental: always needing assembly, installation, and repairs. He has always been a handson technical guy, never failing shy of picking up a tool to repair ‘burnt in’ machine himself. He grew with Jupiter, India’s first and biggest Indian software company. Since the Government required Jupiter to earn twice as much from exports as it spent on importing machines, it pioneered the concept of ‘offshoring’. In a world without Internet, fax machine, or direct dial phone connections, the instructions would be sent to programmers by post, mailing two copies, one day apart, so that if one post bag was lost, the duplicate was likely to hit shores.
These daunting early years taught Ramu frugality and rigour. One hour’s computer time cost more than a programmer earned in a month. A call from US to Mumbai would be interrupted every three minutes by the operator just to check if the caller wanted to continue. By 1996, Ramu had become the CEO and in 2004 the company turned public.
 
But many insiders as well as outside company watchers feel that the old timers now must learnt to let go. Today it is mind, not megahertz, that are the scarce commodities. Over its long history, Jupiter has achieved great success by pinching pennies, developed great programmes by relying on long serving insiders who would work in a disciplined manner. But now it must nurture intrapreneurial talent along with focusing on marketing.
 
Ramu got into software in time to watch a revolution in the business world. The company always invested more than the industry average of about 10% in R&D to bring new products to the market. Though not with much breakthrough. For the first time it decided to go the inorganic way of buying Finacle, a French Maker of financial times.
 
Ramu with his swoosh of wavy gray hair and heavy rimmed eyeglasses looks more like a professor, which he still is Paul is the quintessential ‘pin stripes’ guy, always attired formally exuding an almost dandy image. While Ramu’s music preferences tilt in favour of Mirza Ghalib and Gulzar, lyricists writing almost brainy compositions, Paul would any moment settle for the likes of Daler Mehandis and Britney Spears. Ramu had joined the company when the software was hot, having a mystical aura around it. Paul thinks that software is like any other product; consumer’s dictates should direct the developer. When Ramu addressed the technology conference the venue was IISC convention hall; for Paul nothing else than the glitzy Kempinsky at Mumbai would do. The difference between the persona of two co-sharers of the hot seat of CEO was too conspicuous to go unnoticed. But what about the company and its financials in the future.
where to buy abortion pill abortion pill online purchase abortion pills
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
61ffcfee-46fc-4038-b590-f5b72e5f811b
i need to buy the abortion pill cytotec abortion pill buy online cytotec abortion pill buy online
i need to buy the abortion pill abortion pill cytotec abortion pill buy online
buy abortion pills online order abortion pill pill for abortion online
where to buy abortion pills online abortion pill ordering abortion pills to be shipped to house
where to buy abortion pills online read here ordering abortion pills to be shipped to house
abortion pill buy online abortion pill where can i buy abortion pills
abortion pill online purchase abortion pill ordering abortion pills to be shipped to house
how do i know if my wife cheated link women cheat on men
my husband almost cheated on me read redirect
unfaithful spouse want my wife to cheat wives that cheat
unfaithful spouse what makes a husband cheat wives that cheat
why people cheat in relationships go redirect
women who cheat on relationships women who cheat on husband beautiful women cheat
link women will cheat men and women
link website men and women
will my wife cheat again husband cheated my boyfriend cheated on me with a guy
online dating a married woman
wives that cheat wife cheat story click here
open how can people cheat dating a married man
the unfaithful husband women affair cheat on husband
the unfaithful husband why married men have affairs cheat on husband
click click here catch a cheat
click click here catch a cheat
i dreamed my husband cheated on me unfaithful husband open
unfaithful wives how to cheat link
link click here wifes that cheat
redirect how to catch a cheat why people cheat in marriage
redirect link married men who cheat with men
redirect link married men who cheat with men
i dreamed my husband cheated on me reasons why married men cheat click
infidelity signs dating a married man letter to husband who cheated
how to catch a cheat redirect wife cheaters
how to catch a cheat married men having affairs wife cheaters
how to catch a cheat married men having affairs wife cheaters
husband cheated wife click husbands that cheat
my husband cheated when women cheat married affairs
my husband cheated husbands that cheat married affairs
what makes a husband cheat women who want to cheat dating for married men
married looking to cheat cheat on my husband will my husband cheat
how to cheat husband link what makes people cheat
women that cheat on their husbands redirect redirect
women that cheat on their husbands redirect redirect
most women cheat why men have affairs open
most women cheat women who cheat open
how do i know if my wife cheated dating sites for married people redirect
how do i know if my wife cheated dating sites for married people redirect
I cheated on my boyfriend link online
why women cheat in relationships women want men types of women who cheat
married affairs I cheated on my boyfriend website
online click here redirect
why do women cheat with married men meet and cheat what to do when husband cheats
read here link catch a cheat
read here I cheated on my girlfriend catch a cheat
go dating for married people what makes people cheat
online affair redirect read
why women cheat infidelity go
website why wives cheat on husbands letter to husband who cheated
women that cheat with married men women cheat read
women that cheat with married men unfaithful spouse read
read click here why are women unfaithful
read women that cheat why are women unfaithful
my husband cheated with a man wifes who cheat how can people cheat
my husband cheated with a man wife affair how can people cheat
website I cheated on my husband cheaters caught
married cheat husband cheated on me why women cheat on husbands
married cheat husband cheated on me why women cheat on husbands
meet and cheat read here redirect
meet and cheat read here redirect
why husband cheat wifes cheat husband cheated wife
unfaithful wife wives who cheat on husbands women who cheat on their husband
meet and cheat read here My wife cheated on me
why do women cheat with married men website open
click wife cheat marriage affairs
reasons why married men cheat go reasons married men cheat
read here redirect read
read here dating for married men read
how to spot a cheater signs of a cheater why do married men cheat
men and women wives who cheat online
why husband cheat on their wife unfaithful wives My girlfriend cheated on me
why husband cheat on their wife unfaithful wives My girlfriend cheated on me
I cheated on my wife why do men cheat all wife cheat
link cheat wife wife cheated on me
why do wifes cheat click what to do when husband cheats
how can people cheat online read
how to cheat on my husband link
how to cheat on my husband click here link
how to cheat on my husband go link
click married and want to cheat why do wife cheat on husband
open wifes who cheat link
open open read
read go women will cheat
husband cheat wives that cheat open
women cheat on their husbands website link
women cheat on their husbands reasons why married men cheat link
beautiful women cheat how many women cheat on husbands how to tell if wife has cheated
beautiful women cheat redirect how to tell if wife has cheated
women cheat on their husbands what makes people cheat read here
I cheated on my girlfriend husband watches wife cheat click
wife cheat story website go
link married cheat unfaithful wives
link why do wifes cheat unfaithful wives
cheat wife read here online
why does husbands cheat read here why do husband cheat
my boyfriend cheated on me with a guy how can people cheat dating a married man
why people cheat why do women cheat with married men
my husband cheated with a man why do women cheat with married men
what makes husbands cheat how do i know if my wife cheated redirect
women that cheat with married men why men have affairs men having affairs
women affair unfaithful spouse go
I cheated on my wife wives cheat click
I cheated on my wife what to do when husband cheats click
read women looking to cheat reasons wives cheat on their husbands
read married men and affairs my girl friend cheated on me
click the unfaithful husband wifes that cheat
online women who cheat with married men women want men
online open women want men
married men who have affairs open website
married men who have affairs redirect website
online husband cheat click here
online redirect click here
read women that cheat on their husbands what is infidelity
cheat on husband click my wife cheated now what
click link why do wife cheat on husband
affair dating sites online women will cheat
my boyfriend cheated on me with a guy link redirect
read here the unfaithful husband how to cheat on wife
click signs of unfaithful husband why women cheat on their husband
men having affairs go read
married men having affairs dating for married men how to cheat husband
married men having affairs reasons why husbands cheat how to cheat husband
catching a cheater read here My girlfriend cheated on me
wife cheat open unfaithful spouse
wife cheat open unfaithful spouse
wife cheat read unfaithful spouse
click here click how many guys cheat
click affair dating sites website
website why women cheat with married men why do men cheat
why do women cheat on husbands why wife cheat why wife cheated
why do women cheat on husbands reason why husband cheat why wife cheated
why do women cheat on husbands why wife cheat why wife cheated
wife affair website how many women cheat on their husbands
how to know if wife has cheated i dreamed my husband cheated on me cheat on wife
how to know if wife has cheated i dreamed my husband cheated on me cheat on wife
why married men have affairs husbands who cheat will my husband cheat again
my boyfriend cheated on me with a guy why married men cheat on their wives women cheat because
my boyfriend cheated on me with a guy why married men cheat on their wives women cheat because
married men who have affairs what makes husbands cheat married men dating
women love to cheat boyfriend cheated on me why do wife cheat
women love to cheat husband cheat why do wife cheat
women love to cheat boyfriend cheated on me why do wife cheat
go link women who cheat
link my wife cheated on me now what men who have affairs
why men have affairs what makes people cheat open
how to cheat with a married woman love affairs with married men go
website read here redirect
website read here redirect
read here redirect generic viagra houston tx
viagra supplier us pharmacy link read
viagra supplier us pharmacy link read
generic viagra canada where to buy viagra safe open
viagra 50m read how to get free viagra
viagra 50m read how to get free viagra
viagra withour prescription vasotec and viagra interactions open
viagra super active australia where to buy viagra uk click
website go buy viagra online without a prescription
viagra spoofing microsoft adresses generic money order viagra who produces viagra
viagra spoofing microsoft adresses generic money order viagra who produces viagra
buy viagra in the philippines read read here
read viagra vrs livetra viagra tablet cutters
read viagra supplier us online pharmacy viagra tablet cutters
read viagra vrs livetra viagra tablet cutters
website redirect redirect
genaric viagra from inda viagra supplies viagra st cialis st viagra cialis
genaric viagra from inda use of viagra for premature ejaculation viagra st cialis st viagra cialis
women that cheat on their husbands read here married cheaters
husband cheated on me infidelity signs when your husband cheats
i dreamed my husband cheated on me how women cheat website
why women cheat read dating a married woman
why women cheat My husband cheated on me dating a married woman
how to cheat with a married woman why do married men cheat online
wifes that cheat click here why do men have affairs
signs of infidelity married men affairs all women cheat
why people cheat dating sites for married people my boyfriend cheated on me with a guy
how often do women cheat on their husbands husbands who cheat my boyfriend cheated on me with my mom
how often do women cheat on their husbands click my boyfriend cheated on me with my mom
how often do women cheat on their husbands husbands who cheat my boyfriend cheated on me with my mom
why married men have affairs married men who cheat with men wife cheated on me
why married men have affairs unfaithful spouse wife cheated on me
husbands who cheat go online
unfaithful wife what makes husbands cheat how to catch a cheater
unfaithful wife click how to catch a cheater
meet and cheat online looking for affair
what makes a husband cheat read why women cheat in relationships
reasons people cheat online affair
my husband cheated women affairs when women cheat
link the unfaithful husband women love to cheat
unfaithful husbands percentage of women who cheat read here
women who like to cheat how often do women cheat on their husbands how to catch a cheater
women who like to cheat website how to catch a cheater
unfaithful wives redirect catch a cheater
married men that cheat dating a married woman my boyfriend cheated on me with my mom
married men that cheat link my boyfriend cheated on me with my mom
reasons why husbands cheat my girl friend cheated on me wife cheated on me
website women that cheat on their husbands letter to husband who cheated
online when a husband cheats click here
why does husbands cheat read read
why does husbands cheat online read
my boyfriend cheated on me with my mom link my wife emotionally cheated on me
how to tell if wife has cheated click here wife cheated
women affair click wife cheaters
link women affair online
My girlfriend cheated on me why do wife cheat on husband link
My girlfriend cheated on me click here link
My girlfriend cheated on me why do wife cheat on husband link
website website
link read unfaithful wife
black women white men click here read here
read how do i know if my wife has cheated my boyfriend cheated on me with my mom
read signs of unfaithful husband my boyfriend cheated on me with my mom
women who cheat click why people cheat in marriage
women who cheat click why people cheat in marriage
how to cheat on my husband open when a husband cheats
read online wives who cheat
link why most women cheat why women cheat with married men
link women affair why women cheat with married men
click here why does husbands cheat why are women unfaithful
how to cheat online website
meet and cheat click click here
meet and cheat the unfaithful husband click here
all wife cheat read go
open how to tell if wife has cheated when your husband cheats
will my wife cheat again women who cheat on their husband love affairs with married men
go why do men cheat on their wife reasons why wives cheat on their husbands
website married woman looking to cheat women cheat on men
women who cheat on men why do married men cheat website
my husband cheated online redirect
my husband cheated read here redirect
wives cheat click here reasons women cheat on their husbands
click here why do men cheat
why do husband cheat go click here
go go go
women that cheat with married men wives that cheat why men have affairs
go i dreamed my wife cheated on me want my wife to cheat
why women cheat on their husbands will my husband cheat again husband cheated
redirect when women cheat married and want to cheat
why are women unfaithful how to spot a cheater
online why do women cheat on husbands why men have affairs
online why do women cheat on husbands why men have affairs
why people cheat in marriage married woman wants cheat reasons women cheat on their husbands
cheat on my husband women who love to cheat wife cheat
cheat on my husband why men cheat on beautiful women wife cheat
when a husband cheats go why do guys cheat
click reasons why husband cheat my wife emotionally cheated on me
how do i know if my wife has cheated open link
how do i know if my wife has cheated cheat on my husband link
women who love to cheat click why do wifes cheat
women who love to cheat click why do wifes cheat
husband cheated My boyfriend cheated on me women who cheat on their husbands
website women that cheat cheater
redirect how do i know if my wife cheated wife cheated
redirect how do i know if my wife cheated wife cheated
read here click here click
wives who cheat click why most women cheat
wives who cheat cheat on your wife why most women cheat
website click here reasons why husband cheat
open reasons why married men cheat why do wifes cheat
cheat on your wife my wife emotionally cheated on me website
married affairs sites how many women cheat on husbands click
why does husbands cheat click here go
why does husbands cheat women looking to cheat go
why does husbands cheat women looking to cheat go
wives cheat website signs of infidelity
married men that cheat click here read
my husband cheated reasons wives cheat on husbands click
women cheat husband my boyfriend cheated on me with a guy how many guys cheat
how to cheat with a married woman why men cheat i dreamed my husband cheated on me
how to cheat with a married woman click here i dreamed my husband cheated on me
dating site for married people how to cheat wife read
wifes cheat open marriage affairs
click reason women cheat how do i know if my wife cheated
how to cheat with a married woman why women cheat with married men what causes women to cheat
link online affair unfaithful husband
link online affair unfaithful husband
my wife cheated on me now what boyfriend cheated on me cheat on my husband
my wife cheated on me with my father reason why husband cheat married men having affairs
cheat i want an affair read here
how often do women cheat on their husbands dating for married women love to cheat
how often do women cheat on their husbands husband cheated on me women love to cheat
women that cheat on their husbands click why women cheat on husbands
women that cheat on their husbands click why women cheat on husbands
my wife emotionally cheated on me my girl friend cheated on me husband cheated wife
my wife emotionally cheated on me my girl friend cheated on me husband cheated wife
online women who want to cheat what makes a husband cheat
cheat women woman affair why husbands cheat
what makes married men cheat why women cheat with married men
what makes married men cheat I cheated on my husband
wife affair website women love to cheat
how to catch a cheater why women cheat on men they love why do women cheat with married men
how to catch a cheater husband cheat why do women cheat with married men
women who want to cheat read here dating a married woman
how often do women cheat on their husbands woman affair open
reasons why married men cheat cheat women link
how many guys cheat website married men having affairs
looking for affair website
looking for affair website
want my wife to cheat wifes who cheat how to cheat husband
why married men have affairs reasons women cheat catch a cheat
why married men have affairs reasons women cheat catch a cheat
wife cheat website go
wife cheat website go
how to tell if wife has cheated why do husband cheat I cheated on my wife
wives cheat cheat meet to cheat
abortion clinics in brooklyn how affective is the abortion pill abortion cytotec
abortion clinics in brooklyn website abortion cytotec
what are some abortion pills cytotec missed abortion risk of abortion
what are some abortion pills abortion pill charlotte nc risk of abortion
open free abortion pill nyc abortion pill oklahoma
surgical abortion or pill link 4 week abortion
4 week abortion about abortion procedure for abortion
4 week abortion about abortion procedure for abortion
is abortion safe morning after pill price how is the abortion pill
how much is abortion read here read here
abortion pill for sale where to buy abortion pills online what are the risks of abortion
read here go procedure for abortion
how much are the abortion pills abortion pill medication abortion women abortion
cost for abortion pill abortion in america abortion 6 weeks
cost for abortion pill online abortion 6 weeks
do abortion pills work abortion pill reviews link
abortion with the pill how is the abortion pill taken when to get an abortion
what is the abortion pill called where to find the abortion pill abortion pill symptoms
over the counter abortion pills does the abortion pill work website
homemade abortion how can you get abortion pills what is this pill
name of abortion pill what is medical abortion after pill
teen abortions where do you get an abortion pill taking an abortion pill
cheapest abortion pill redirect read
is there abortion pills link where to get abortion pill
where can you get a abortion pill does abortion pill work redirect
abortion pills cost where can i go to get the abortion pill redirect
abortion pills cost pill abortion procedure redirect
i pill open website
click here abortion pill clinics abortion pill pros and cons
click here abortion pill clinics abortion pill pros and cons
how much do abortion pills cost go how much is a abortion pill
what is in an abortion pill click here do abortion pills work
the first trimester of pregnancy what is in an abortion pill click
open how to have a abortion morning after pill price
what is an abortion abortion pill austin tx how do you feel after taking the abortion pill
what is an abortion abortion pill austin tx how do you feel after taking the abortion pill
redirect link how do you get an abortion pill
redirect link how do you get an abortion pill
teenage abortion natural abortion pill open
pregnant on the pill open read
redirect abortion pill info abortion help
abortion options medical abortion what to expect post abortion syndrome
abortion options medical abortion what to expect post abortion syndrome
click open how the pill works
misoprostol mifepristone abortion pill cost what is mifepristone and misoprostol
misoprostol mifepristone how does abortion pill work what is mifepristone and misoprostol
after abortion pill abortion providers abortion definition
after abortion pill ru-486 the abortion pill abortion definition
after abortion pill abortion providers abortion definition
what causes women to cheat i dreamed my husband cheated on me married men who cheat
why wifes cheat read here read
why wifes cheat read here read
when a husband cheats wife who cheated married affairs
My girlfriend cheated on me link read
affair dating sites how can people cheat what is infidelity
how many people cheat letter to husband who cheated how to tell if wife has cheated
married men dating link online
why women cheat woman affair wives that cheat
why women cheat why do husbands cheat wives that cheat
why women cheat woman affair wives that cheat
how to catch a cheater why wife cheated wives cheat
how to catch a cheater why wife cheated wives cheat
married men having affairs what makes women cheat read here
cheat on my wife click website
click here how to cheat on my husband why do men have affairs
click here why do wifes cheat why do men have affairs
wifes who cheat black women white men read here
open dating site for married people how married men cheat
open women that cheat how married men cheat
click here cheat wifes meet to cheat
click here cheat wifes meet to cheat
signs of a cheater why people cheat in marriage why women cheat
cheat on my husband unfaithful husband infidelity in marriage
cheat on my husband i cheated on my husband infidelity in marriage
why most women cheat wifes that cheat dating for married
women who want to cheat online online
My boyfriend cheated on me why married men cheat on their wives cheaters caught
read here link read here
read here read here
read here what makes husbands cheat read here
reasons why women cheat on their husbands cheat when a husband cheats
reasons why women cheat on their husbands how do i know if my wife has cheated when a husband cheats
how to cheat on my husband read here website
all wife cheat wives who cheat on husbands how often do women cheat on their husbands
all wife cheat read here how often do women cheat on their husbands
dating a married woman read here open
dating a married man why men have affairs online
women that cheat click here how to cheat on husband
women who like to cheat how many women cheat I cheated on my boyfriend
wives that cheat unfaithful wife read
I cheated on my girlfriend catch a cheat redirect
website online click
website online click
dating for married people website why women cheat on husbands
read how to cheat with a married woman
link wifes who cheat cheat women
men and women reasons women cheat on their husbands woman affair
go cheat online
married men affairs reasons why wives cheat on their husbands what makes husbands cheat
click here click dating sites for married people
click wifes cheat wife who cheated
my boyfriend cheated on me with my mom my husband cheated with a man unfaithful wives
women cheat why people cheat
i cheated on my husband click here marriage affairs
unfaithful husbands boyfriend cheated on me click
click here find an affair women who cheat on their husbands
why wifes cheat read here why do women cheat on husbands
why wifes cheat read here why do women cheat on husbands
website women affairs online
reasons wives cheat on their husbands why husband cheat women cheat because
why most women cheat click click here
read link married cheat
open women looking to cheat men and women
infidelity in marriage read wife cheat story
infidelity in marriage how many people cheat wife cheat story
how married men cheat read letter to husband who cheated
how married men cheat read letter to husband who cheated
love affairs with married men open dating sites for married people
love affairs with married men website dating sites for married people
affairs with married men husband cheated married men cheat
affairs with married men husband cheated married men cheat
how women cheat read here i cheated on my husband
wife cheat reasons why husband cheat women who cheat on their husband
my husband almost cheated on me cheat reason why husband cheat
early signs of hiv in men aids lesions pictures signs of aids/hiv
sign of hiv aids prevention hiv aids symptoms in men
treatment for aids what are the symptoms of aids and hiv signs of aids/hiv
treatment for aids early hiv test signs of aids/hiv
top cell phone spy software android monitoring software how to spy on android phone
top cell phone spy software android monitoring software how to spy on android phone
signs of hiv or aids first signs of aids what is the treatment for aids
signs of hiv or aids charities aid foundation what is the treatment for aids
married men cheat with men why women cheat in relationships why women cheat
blood test for chlamydia chlamydia in the throat chlamydia men symptoms
why married men cheat on their wives men who have affairs unfaithful husbands
why is abortion bad abortion pill over the counter how much is a abortion pill
how can you get std std diseases where can i get std tested for free
hidden spy apps for android spy phone apps free best spy app for android free
hidden spy apps for android best spy phone best spy app for android free
free apps for spying on cell phones site spy app for android
symptoms for gonorrhea phuckedporn.com std testing online
free spyware for phones open spy android app
free spyware for phones open spy android app
free spy mobile app crossbordercapital.com phone spy software
how often do women cheat on their husbands sledaddicts.com men who have affairs
where to get an abortion pill longrangesystems.net 1 wk pregnant
male std pictures click get tested for stds
hiv skin rash how to get tested for hiv aid for africa
best android spy app free site free android sms spy
problems with pregnancy boomasontennis.com birmingham abortion clinic
unwanted pregnancy options click dilation and curettage cost
women who like to cheat what to do when husband cheats why women cheat on their husband
how to cheat on your boyfriend open why do i cheat on my boyfriend
girlfriend cheated on me with her ex link girlfriend cheated on me
how to cheat on your wife how do you know your wife cheated on you wife cheated on me now what
wife wants to cheat want wife to cheat do you cheat on your wife
your wife cheated on you site why cheat on your wife
women wanting to cheat why do i want to cheat on my wife want wife to cheat
how to cheat boyfriend i cheated on my boyfriend with a girl why does my boyfriend cheat
do you cheat on your wife blog.sitters4charities.org my wife cheated now what do i do
should i tell my boyfriend i cheated on him i cheated on my boyfriend should i tell him i dreamed i cheated on my boyfriend
married men cheat link what makes married men cheat
cheat on your wife website blog.whitsunsystems.com when your wife cheats
looking for affair reasons women cheat on their husbands why do men cheat on their wife
cheat boyfriend would my boyfriend cheat i cheated on my boyfriend what do i do
how do i know if my girlfriend cheated on me my girlfriend thinks i cheated on her should i tell my girlfriend i cheated
how do i know if my girlfriend cheated on me my girlfriend thinks i cheated on her should i tell my girlfriend i cheated
girlfriend cheated on me prashanthiblog.com i just cheated on my girlfriend
how many women cheat on their husbands site wife who cheated
men who have affairs site my husband cheated on me
cheat on your boyfriend read i cheated on my boyfriend how to get him back
cheat on your boyfriend read i cheated on my boyfriend how to get him back
cheat boyfriend how to cheat boyfriend cheat on boyfriend
should i tell my girlfriend i cheated on her go i had a dream that my girlfriend cheated on me
cheat on my girlfriend i cheat on my girlfriend my girlfriend wants me to cheat on her
i cheated on my boyfriend how to get him back blog.smartofficecloud.com my boyfriend cheated now what
i cheated on my boyfriend should i tell him read i cheat on my boyfriend
my wife cheated now what do i do so your wife cheated want to cheat on my wife
my fiance cheated on me wife affair my girl friend cheated on me
i cheated on my boyfriend and told him should i cheat on my boyfriend quiz i cheated on my boyfriend but i love him
is my girlfriend cheated on me how do i know if my girlfriend cheated on me he cheated on his girlfriend with me
how to cheat on boyfriend blog.whitsunsystems.com i cheated on my boyfriend should i tell him
my husband cheated on me will he do it again trailblz.com should i tell my husband i cheated
i want my wife to cheat how to know your wife cheated cheat on your wife website
i want to cheat go should i tell my husband i cheated on him
i cheated on my boyfriend should i tell him my boyfriend cheats why do i cheat on my boyfriend
want to cheat on my wife robertsuk.com i want my wife to cheat on me
i cheated on my wife now what link so your wife cheated on you
i just cheated on my boyfriend click how to cheat on your boyfriend
married looking to cheat madsmoller.com i dreamed my wife cheated on me
my boyfriend thinks i cheated vancouverpaddlewheeler.com i think my boyfriend cheated
so your wife cheated on you cheat on your wife website why do i want my wife to cheat on me
i cheated on my husband with a woman open i found out my husband cheated on me
did my boyfriend cheated on me ufovidmag.com i cheated on my boyfriend with his best friend
i dreamed i cheated on my boyfriend parentpower.com would my boyfriend cheat
cheat on your spouse blog.icuracao.net how do you know your wife cheated on you
cheated by boyfriend i had a dream i cheated on my boyfriend i had a dream that my boyfriend cheated on me
want to cheat on my husband site i want my husband to cheat
want to cheat on my husband sigridw.com i want my husband to cheat
did my boyfriend cheated on me i cheated on my boyfriend should i tell him how to cheat on boyfriend
i told my husband i cheated on him why would my husband cheat i want to cheat
so your wife cheated ballslapped.com wife cheated on me now what
so your wife cheated go wife cheated on me now what
dating for married men infidelity in marriage cheat
will my boyfriend cheat my boyfriend cheated i cheated on my boyfriend now what
what to do when your wife cheated on you tracyawheeler.com how to cheat your wife
how do i tell my husband i cheated why my husband cheated on me why i cheat on my husband
cheat on your wife website tracyawheeler.com i want my wife to cheat
cheated on my boyfriend blog.gobiztech.com why does my boyfriend cheat
married woman looking to cheat click all wives cheat
my girlfriend cheated on me twice blog.linglinzhu.com how do you get a girlfriend
cheater robertsuk.com husbands that cheat
husbands who cheat thesailersweb.com want my wife to cheat
women who cheat on husbands click married cheat
do all women cheat read women who cheat on men
dating for married link why wives cheat on husbands
cheat on my husband blog.ivanovtech.com why do people cheat
i dream my husband cheated on me why women cheat in relationships husband cheated
why most women cheat reasons women cheat on their husbands my wife emotionally cheated on me
women cheat on men link wife affair
wife cheaters mapbiquity.com unfaithful wife
grown women and their fathers who have consenual sex stories read adult written porn stories with animals
most women cheat prashanthiblog.com what makes a husband cheat
free malayalam hot sex stories tolobel.com adult intimate sex stories
what is infidelity yodotnet.com how to catch a cheat
infidelity how many people cheat what makes married men cheat
wife adult stories adult porn written stories with animals gay sex stories gay erotic stories stories male fiction novels erotica
married men dating open all wife cheat
looking to cheat keelingconsulting.com my husband cheated
free malayalam hot sex stories solveit.openjive.com adult xxx stories
adult baby girl stories solveit.openjive.com little sex stories
married woman looking to cheat faithwalker.org dating a married woman
free malayalam hot sex stories kr vijaya sex stories forced sex change stories
married looking to cheat go what makes married men cheat
catching a cheater tracyawheeler.com infidelity signs
mature sex stories tolobel.com lesbian sex stories
my girl friend cheated on me go signs of unfaithful husband
grown women and their fathers who have consenual sex stories forced sex change stories adult audio stories
adult baby stories femchoice.org free adult book store stories pictures
married woman looking to cheat why do women cheat with married men wife cheat story
stories of little sex allindiasweetsrestaurant.com free erotic adult stories
unconscious sex stories adult baby girl stories interactive adult stories
what causes women to cheat click I cheated on my girlfriend
unconscious sex stories dirty adult stories interactive adult stories
sex stories sites survivingediscovery.com adult anal sex stories
indian sex stories go adult stories
personal intimate stories about sex sensual linotancredi.com free adult erotic stories online
amoxil 250mg mgdking.com levofloxacin pill
inderal 40mg click flagyl
clobetasol levaquin gabapentin 600mg
acyclovir 200mg informarea.it diprolene 0.12%
neurontin 600mg corladjunin.org.pe proscar
proscar link inderal 40mg
temovate click flagyl
viagra manufacturer coupon link free printable viagra coupons
discount coupons for viagra blog.plazacutlery.com printable coupons for viagra
discount drug coupons prescription transfer coupon free printable viagra coupons
viagra.com coupon read viagra discount coupons
information on abortions how much does it cost to have an abortion facts about abortion
bystolic coupon save up to $20 bystolic manufacturer coupon bystolic coupon 2014
diabetes affect sexuality link cialis dosage for ed
how effective is viagra effect viagra how to buy viagra
www.cialis.com coupon cialis best price discount on cialis
cialis coupon lilly sporturfintl.com free printable cialis coupons
free prescription drug discount card read free cialis samples coupon
free discount prescription card eblogin.com prescription discounts cards
abilify injekcije click abilify maintena cost
zentel liquido site zentel
cialis discount coupon bilgecammakina.com free prescription cards
new prescription coupon meraresult.com prescription card discount
cialis coupon codes prescriptions coupons cialis discount coupons
ventoline ramadan ventoline dopage ventoline vidal
questions about abortion how are abortions done how many weeks can you get an abortion
cialis coupons from lilly slb-coaching.com prescription coupon card
cialis coupon free abloomaccessories.com cialis coupon card
cialis coupon free abloomaccessories.com cialis coupon card
cialis coupon codes fedbeton.be cialis 2015 coupon
amoxicillin dermani haqqinda amoxicillin antibiyotik fiyat amoxicillin-rnp
lilly cialis coupons funtimeleisure.co.uk cialis coupon lilly
abortion pill cost pro abortion cost of medical abortion
coupons for cialis 2016 cialis coupons online free cialis coupons
the cost of abortion should abortion pill be legal types of abortion pill
abortion vacuum what is aspiration abortion early pregnancy termination
abortions cost how to get an abortion pill when is it too late to get an abortion pill
duphaston 10 mg duphaston i ovulacija duphaston
cialis manufacturer coupon 2016 activeslo.com cialis manufacturer coupon
transfer prescription coupon laziendaalimentacoes.com.br lilly cialis coupon
cialis 20 cialis tablet cialis
vermox suspenzija mcmurray.biz vermox cijena
vermox bez recepta vermox suspenzija vermox tablete doziranje
cialis.com coupons prescription drug discount cards prescription drug cards
low dose naltrexone weight loss avonotakaronetwork.co.nz naltrexone opioid antagonist








 

Home   |    About Us   |    Subscribe   |    Advertise   |    THF Team   |    Contact Us   |     Feedback

IIPM | Arindam Chaudhuri | 4Ps Business & Marketing | Business And Economy | The Sunday Indian | Planman Consulting | Planman Marcom | Planman Stars | Planman Technologies | Planman Financial | Planman Motion Pictures | Planman Media | GIDF | The Daily Indian | IIPM Think Tank | Related Links

Copyright © Planman Media Pvt. Ltd. 2008 All Rights Reserved.Best viewed in Internet Explorer Browser .