547. The Supreme Court of India: Liberate 1000 million people

547

The Supreme Court of India: Liberate 1000 million people

          There are reports that the premium income of the Life Insurance Corporation of India (LIC) would exceed Re. 2 lakh crore during the financial year 2016-2017.

          The LIC extracts money from all over India. The effective return from the LIC is not even 10 per cent of the total amount paid as premium. Yet, many people want to be the policy holders of the LIC. There are many reasons for this.

          As the LIC is a Public Sector Undertaking (PSU), the people – as a rule- think that their investments are secure. They think that their investments would go for nation building.     Another reason is that the government gives a small income tax rebate for the investments in the LIC. 

Man is mortal. So he must leave something for his children in the event of his early death. This is another reason.

Further, the LIC tells the people that they would get a sizable amount of money after maturity. Many poor people consider investments in the LIC as a kind of saving. They seldom realize the simple fact that the money value would fall very rapidly.

What is important is the deployment of funds by the LIC.

Partly, due to the letters sent by the present man, the LIC stepped up its money deployment in government securities and Public Sector Undertakings.

However, one can discern a definite pattern in the utilization of the money.

It hands over a huge amount of money to about 10 people in the pretext of buying the shares of their companies. About 300 others get a small amount. It deployed about 3 lakh crore in the financial year 2015 to these companies. The beneficiaries buy back the shares as and when they get money. Therefore, the LIC does not hold more than, say, 10 per cent shares of any company. Only in rare cases, it holds up to 20 per cent shares of any company at a time. So the beneficiaries mint money without paying interest for the money obtained from the LIC.

There are over a million other entrepreneurs in India. They get nothing. If they want money, they must take loan. But the LIC says that people’s money is for people’s welfare. 

This vitiates Article 14 of the Constitution of India.

The beneficiaries rule India by keeping suitable men as political leaders. The words of the political leaders chosen by them alone are heard all over India.

The officers of the LIC also get suitable reward. Some get the reward in the form of post retirement placement in their companies with pay and allowances consistent with their degree of co-operation. These are acts of corruption.

The extraction of money by the LIC leads to flight of capital. It causes great economic deprivation all over India. This is a fraud on the Constitution of India.

The act of disturbing this system will be to the advantage of mankind.

But the beneficiaries control the mind of the judges of the Supreme Court of India.  So the judges fail to liberate 1000 million people from their present bondage. No wonder,  the Chief Justice of India does not acknowledge the letters from the citizens.

The result is that all attempts to free 1000 million people from their rule end in vain.

Therefore, the beneficiaries of the LIC continue to rule India through their chosen men.

This is letter No.546

   The facts from 28 February 2017 to 5 March 2017  are being submitted to His Excellency the President of India, Supreme Court of India, Chief Vigilance Commissioner, Indian Army and the Indian Air Force, and posted in the blog: www.howeverythinghappenedinindia.blogspot.com  on 6-3-2017.

6- 3-2017.

V. Sabarimuthu,

26-3 Thattamkonam, Vellicode, Mulagumoodu PIN: 629167, India.