Sunday, January 20, 2013

214. The Top Private Companies in India and Their Public Character.


214

PULLING THE SHOT

     The last mail was submitted to His Excellency the President of India on December 26, 2012. The same mail was sent to the Supreme Court of India, Indian Army and Indian Air Force.   Later, it was sent through post to the President of India and the Chief Justice of India, and posted in the blog www. howeverythinghappenedinindia.blogspot.com

     Mr. Tata, on 27 December 2012, described the gloomy situation as a passing phase. He said this in the light of the last few letters. It is imperative that some other people  must take up the work of this writer.

      The Union Government, on 27 December 2012, withdrew the security given to former Army Chief V.K. Singh. The security and the publicity are the gratis given by the recipients of the public assets.

       Former Union Minister Mr. Arun Nehru, on 30 December 2012, wanted the people to look at the economic negativity created in India by some people. The present writer always strives to create economic positivism.

   Mr. D.K. Mehrotra, Chairman LIC, on 31 December 2012, said that the public sector Life Insurance Corporation of India (LIC) would invest 2.4 lakh crore in shares in this fiscal.
      The above statement shows that the Government has infused about Re.15 lakh crore from the LIC alone in private companies in the last eight years. The recipients need not repay anything. This is free supply of unlimited money.
     The Government believes that the above economic model is for the advantage of the people. It, perhaps, claims that the recipients buy assets and give employment. In fact, some acquisitions do generate employment.
     Due to the above policy the Government has no money to make the roads broad or to pay direct salary to the teachers of self-financing educational institutions.
    At the same time, the public sector financial institutions attach the assets of thousands of small entrepreneurs every day without even directly serving the notice.
      Who “pulls the shot” in the above matter? Is it the Supreme Court? Is it the Union Cabinet? Where does the true power lay in India? Do the armed forces know this?

     Union Minister Mr. Alagiri, on 1 January 2013, said that many changes would happen before the 2014 General Election. This shows that he is optimistic and strives to do something in the Union Cabinet. Will he succeed before 2014? Can he “pull the strings?”

    The Infosys would fire about 5000 so-called underperformers in 2013. Infosys is a big software services company in India.
      The report indicates that the Infosys has been secretly firing its employees intermittently. Having tasted blood, it wants to fire 5000 employees in one go.
        The public character of the Infosys is over 90 percent because the Government infused public money into it for the advantage of the nation. The public character of other top Indian private companies is 100 percent to 300 percent.
       It must be noted that the above idea belongs to this writer.  If the people are allowed to know this, 1000 million people will be of the mind of this writer from tomorrow onwards.
     Therefore, 1000 million people will be happy if the Infosys desists from dismissing its employees openly or secretly.

    The Chinese state owned newspaper, Global Times, on 1 January 2013, said that the Indian democracy is manipulated by a small number of elite interest groups. It added that India is about a decade behind China in economic development and three decades behind in social development.
      India did not refute the above statement.
       China knows the people calling the shot in India. In fact, it gave Re.30,000 crore to a man after the invasion of the Indian market. However, China must be commended for the above statement because it requires great courage to disclose facts. Due to the denial of freedom of information, the people of India are not aware of the Global Times is a different matter.

     Chief Justice Altamas Kabir said that the anger of the people was affecting judicial process. The newspapers published his words in bold letters. The Hindu published it as headline news on 3 January 2013.
      In the last letter, the present writer said that the media was suppressing the views of the present Chief Justice of India. This prompted the newspapers to publish the words of the Chief Justice in bold letters. Now many people know his name. Thus the Chief Justice of India got publicity because of this writer.
     As the Chief Justice of India could pull the strings, the newspapers might, hereafter, publish his words occasionally.

     The newly appointed Chairman of Tata group, Mr. Cyrus P. Mistry, said that Tata DNA did not undergo any change due to the change in leadership.
      The last few letters have changed the DNA of all top private companies in India. If there is freedom of information, the people will accept this.

   The Income Tax (IT) Department seized US Treasury Bonds worth $5 billion from a Mr. Ramalingam. He had been filing IT return for Re. Two lakh.  The media reported this on 3 January 2012.
     The IT Department then said that they were fake bonds. After that it talked about Gold Bonds, Brazil connections, International Bills of Exchange and prosecution. What happened to the bonds is not known to the people.

     Madras High Court, on 5 January 2012, directed the Tamil Nadu state to re-convey 1.62 acre of land worth Re.150 crore to the original owners.  The land was acquired in 1960 for constructing a hostel but had not been utilized for the purpose. The court asked the Government to hand over the property within 12 weeks after receiving the original compensation amount of Re.33,947.
       When the properties belonging to the National Textile Corporation (NTC) were sold, the present writer pointed out that the lands must the returned to the original owners. But the Supreme Court of India ignored it. Now, consistent with this work, a High Court has established justice.

    The business confidence index of the Indian Industry dropped below 50 point mark in October- December 2012. The New Indian Express reported this on 7 January 2013.
      During the above period, this work changed the DNA of the top private companies.

     The trade deficit of India with China stood at 26 billion in November 2012. The Hindu reported this on 9 January 2013. The paper said that China invested in the Indian corporate houses to offset the deficit.
      China invested its foreign exchange in the Indian companies because it knew the people pulling the strings in India.

    Enforcement Directorate, on 8 January 2012, attached assets worth Re. 143.74 crore of the leader of the YSR Congress Party, Jaganmohan Reddy, claiming them as proceeds of crime. It said that he was one of the beneficiaries of the Special Economic Zones (SEZ), irrigation contracts, permission for real estate ventures and mining contracts granted by his father as the Chief Minister of Andra Pradesh. He is now in jail.
      The political power in the hand of the Indian political leaders is the real proceeds from crime.
        This does not mean that the leaders must be sent to jail. The people removing substantial amount of public money send the small entrepreneurs and the political leaders to jail. This is not a good idea.

    The Economic Times, on 8 Jan 2013, said that the Government was taking steps to change the 62   year old company law to take care of the interest of the investors, employees and others.
        In the last letter, the present writer demanded the Government to give job security and pension benefits to the employees in the private sector. The present development shows that some leaders are receptive to the ideas of this writer. However, future alone will prove or disprove this conclusion.

     A Supreme Court bench comprising Justices G.S.Singhvi and S. J. Mukhopadhaya, on 8 January 2013, said that the bench would undertake a random check of the so-called “Radia tapes” to look for any instances of suspected criminality.
     It may be recalled that, on 29 November 2010, the Supreme Court described the tapes as “mind - boggling.” It has been pulling the strings for the last two years. Whatever happened, the Chief Justice of India must have substituted Justice G.S. Singhvi with another judge.
    
      Department of Income Tax, on 8 January 2013, raided the Nokia India’s production unit at Chennai for alleged tax evasion of Re.30,000 crore to Re.70,000 crore.
     The Union Government then said that the Indian audit firm, Price-waterhouse Coopers, was responsible for the tax default of Re. 3000. It added that the audit firm would face prosecution. Are the searches selective?

      The Hindu, on 8 January 2013, reported that the trade deficit of India with China was set to dip. This is consistent with the demand of this writer.


   The LIC, on 9 January 2013, spent Re.3000 crore to buy the shares of the Infosys Company.
    The Infosys posted Re.2363 crore profit for the October – December third quarter.
     The price of Infosys shares rose by 17 percent on 11 January 2013 in the Bombay Stock Exchange.
        Evidently, one day the LIC buys the shares of a company. On the  next day,  the company shows a profit and on the third day the share prices show a steep increase.
       Some call it insider trading. Some others say that the Infosys is indebted to help the LIC.

    A bench of the Supreme Court of India comprising Jutices Aftab Alam  and Ranjana P. Desai, on 12 January 2013, asked  the Central Bureau of Investigation (CBI) and the public sector BSNL to give answer to the petition filed by Mr. Gurumurthy  against former Telecom Minister Mr. Dayanidhi Maran. The case related to a Telephone Exchange and the CBI investigated this matter in 2007.
     The case is related to Union Minister Mr. Alagiri. The recipients of the public money expect Mr. Maran to go to jail so that Mr. Alagiri would not murmur anything in the Union Cabinet. Otherwise, why did the Supreme Court of India sleep for about five years? However,  Mr. Alagiri alone knows the correct picture.
 
      Mr. Cyrus P. Mistry, the new Chairman of  the Tata group called on Prime Minister Manmohan Singh on 13 January 2013.
     They are one. However, Mr. Mistry has to deny freedom of information to the people and pull the strings.

         Nokia India decided to transfer 820 surplus employees to Indian technology firms,   the HCL and the TCS.  In return, Nokia agreed to outsource some of the IT functions to the latter. The financial details were not disclosed. This is the repercussion of the last letter. The private companies want to avert a crisis.

      Sri Lanka, on 18 January 2013, demanded the USA to train its soldiers lest it would seek the help of China.
    China cannot help Sri Lanka in the above matter because it does not want to lose the Indian market. Therefore, the latter must depend on India for its security.

    This is Letter No.214. The Chief Justice of India has a duty to give answers to the letters forwarded to him by the President of India. It is his duty to  give a chance to the people to know different views so that they would create their own ideas on the issues before them.

           The facts from 26 December 2012 to 19 January 2013 are being submitted to Mr. Pranab Mukherjee, His Excellency the President of India, on 20 January 2013.
             The same letter is being sent to the Chief Justice of India, and the Chiefs of the Indian Army and Indian Air Force for necessary action.

V. Sabarimuthu
26-3 Thattamkonam
Vellicode
Mulagumoodu
629167
Tamil Nadu State
INDIA
Phone: 04651275520. Mobile: 9486214851
20 January 2013.
V. Sabarimuthu