218
"SHOW
MERCY"
The last mail was submitted to His Excellency the President of India on
10 March 2013. 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.
Mukesh Ambani of Reliance Industries
Limited (RIL) retained the title of “The Richest Person of India” for the
sixth consecutive year with a net worth of $21.5 billion. A newspaper reported
this on 10 March 2013.
The above estimation could be contested.
It may be recalled that the
Union Government, on 26 May 2007, decided to invest the surplus money of the 20
cash rich Public Sector Undertakings
(PSUs) – about Re. 2.5 lakh crore - in the Unit Trust of India (UTI) as mentioned in Chapter 81. How much
money did the RIL get is not known. However, the money should have been used
for public investments.
Prime Minister Manmohan Singh, on 13
March 2013, said, “Nothing is achieved by dampening the spirit. We have taken
steps and in 2-3 years we will restore the economy to the robust growth path”.
He indirectly says that this work dampens
the spirit. His chief achievement is that he could transmit public money into
the hand of some private parties. No Indian - other than the followers of Mahatma Gandhi and Jawaharilal Nehru- would have done this.
India
attracted Foreign Direct Investment (FDI)
of $22.78 billion in 2012. It was $34.62 billion in 2011. Does the government
say this to enable some private parties to siphon off money to foreign
countries?
The Union Government raised $116 million
by selling the shares of the public sector National
Aluminium Company (Nalco) on 15 March 2013. As the Government sold the
shares without informing the existence of this work to the people, the sale is
unconstitutional.
The
Securities and Exchange Board of India (SEBI), on 16 March 2013, - in a petition
before the Supreme Court of India - wanted the detention of Sahara Chairman Subrata Roy and two other directors - Mr. Ashok Roy and Ravi Shankar Dubey.
Mr.
Subrata Roy employs over 1 million people. It is said that even many
political leaders are his employees. He would surrender his assets rather than
going to jail.
Further, the SEBI wanted to sell the
attached properties and return the money to genuine investors.
It is not like selling the Satyam Company.
A few years ago a sitting judge of the
Madras High Court was appointed as the “Receiver” to sell the properties of the
SUS bank in the Tamil Nadu state. He could not sell them because the buyers
were asked to show the source of their money. He is now not ready to throw away
the properties for one tenth of the market price either.
If the Government had run the above bank,
the depositors would have got their money, and the employees would not have
lost their job.
Mr. Subrata Roy, on 17 March 2013, said
that there was not even one fictitious investor in his company. This shows that
the investors are too weak even to send an application.
Two
terrorists from Pakistan stormed a Central
Reserve Police Force (CRPF) camp and killed 5 soldiers on 13 March 2013 at
the Jammu and Kashmir state.
Two
or three above soldiers might have entered service after 2003. They –unlike the
rest - have no family pension. Their supreme sacrifice has no meaning to the
nation. This is the condition of the police personnel and others all over
India. Are not the chiefs of the armed forces responsible for this?
In an interview to the NDTV, on 16 March
2011, Chief Justice of India Altamas Kabir said that everyone below 18 years
must be considered a child.
He should have asked the NDTV the reason for not informing the
existence of this work to the people before granting an interview. Everyone going through this work would tell that the TV
channels in India show the people deeply committed to the denial of freedom of
information only\in their screens.
State
Bank of India (SBI) Chairman Pratip
Chaudhuri, on 18 March 2013, said that his bank was blazing all guns to
recover the loan provided to the Kingfisher Airlines. He added that the bank
would put on auction the recovered securities.
The banks must function constructively and
not destructively.
According to a report, the SBI, Punjab
National Bank, Bank of India, and Bank of Baroda gave Re. 1600 crore, Re. 800 crore,
Re.650 crore and Re.550 crore respectively as loan to Mr. Vajay Mallya of the Kingfisher
Airlines.
Had the banks been amalgamated as
recommended by the Finance Minister, Mr.
P. Chithambaram, he would have removed the above money from the amalgamated
bank.
Though it is a digression, it must be
mentioned that Pope Francis – the new
Pope- on 16 March 2013, requested everyone to show mercy.
Coming
back, a Supreme Court Bench comprising Chief Justice Altamas Kabir and Justices Anil
R.Dave and Ranjana Desai told
Italian Ambassador that he had no
immunity because he had gone to the court as a petitioner to secure the release
of two Italian marines accused of killing two Indian fishermen.
Italy, after securing the release, said that
it would not send back the marines because they had mistook the fishermen as
pirates.
The Chief Justice said that he was
concerned with the compliance of the order of the court.
Italy, however, sent back the two marines
before the deadline. Finance Minister Mr.
P. Chithambaram, on, 22 March 2013, said that the diplomacy of the
government in the Italian marines’ case succeeded.
Thus, Italy and India together made the stand
taken by the Supreme Court of India an awkward one.
The special CBI judge, O.P. Saini,
issued summons against former Chairman of Bharti Cellular Ltd Mr. Sunil Bharti Mittal, former Managing
Director of Hutchison Telecom Private Ltd Mr.
Asim Ghosh, Director of Sterling Cellular Ltd and three others as they were
the directing mind and will of each company. He said that their state of mind
was the state of mind of the company. He added that they were the ‘alter-ego’
of their respective companies.
Actually, they are the directing mind of
the nation. If they keep the assets, -according to newspapers- they would win
the case.
The newspapers, on 21 March 2013, reported
that the Reserve Bank of India (RBI)
would implement a risk based supervision system from April 2013. The new system
is to check the health of the banking system in the place of the present
compliance based transactions.
The RBI said that a committee had
recommended this. The fact that this writer recommended this in the last letter
is not known to the people.
The RBI said that only 30 major banks alone
would come under the new risk based supervision system.
If the work load of a financial institution
warrants, say, 25 man hours work per day, there must be a supervisor deputed by
the Government. The Government need not expend any money for this. The
institutions would pay salary. Someone would take the credit for this
suggestion also is a different matter.
The Deputy Governor Reserve Bank of India,
on 21 March 2013, said that the existing supervisory system was very efficient.
However, he added that there was a problem in the system.
There must be supervisors to supervise the
RBI also. Had there been a supervisory system, the Governor RBI, would have
asked the Government to use the Re.3 lakh crore in the PF for public
investments.
According to some reports in the third week
of March 2013, the ICICI Bank, HDFC Bank and the Axis Bank were caught in acts of money
laundering. The details were not released.
In this connection, it must be noted that
the ICICI bank used the PF money to trade in gold. As such it must be in
possession of a huge amount of black money.
The DMK, on 19 March 2013, withdrew support
to the UPA government saying that the government caused the dilution of the US
sponsored draft resolution against Sri Lanka in the UN Human Rights Council (UNHRC) at Geneva. The DMK had demanded
the inclusion of the word “genocide” in the draft resolution.
Within two days - on 21 March 2013-, the
CBI raided the house of DMK leader Mr.
M.K.Stalin in connection with a car import case registered in 2011. A few
other places also were raided. Thus 22 imported luxury cars belonging to Mr. Srinivasan, promoter of India Cements Ltd (ICL). and 11 cars of
others were seized. The CBI said that they were imported with
the knowledge of the Directorate of
Revenue Intelligence by evading tax of about Re.50 crore.
While
the raids were going on, Finance Minister Chithabaram
strongly disapproved the raids. Prime Minister Manmohan Singh said that his government was not behind the raids.
Further, the raids were stopped at midway
and the luxury cars were not impounded but returned to the owners.
It may be recalled that the CBI on 19
November 1998 raided an office of the RIL and seized some documents in vain.
The present raid is similar to that one.
The Government, on 21 March 2013, sold 10.8
per cent shares of the public sector Steel
Authority of India Limited (SAIL) for about Re.1500 crore. The Public
Sector LIC bought a major portion. Thus, the Supreme Court of India has done
enough for this fiscal.
The New Indian Express,
on 24 March 2013, reported that the public sector banks were in a debt trap as
the Non Performing Assets had gone from Re.71080 crore in March 2011 to 1.55
lakh crore in December 2012. A supervisory system would have averted this.
A Delhi court, on 25 March 2013, sentenced
former CBI DIG O.P. Sharma for one
year imprisonment for accepting a bribe of Re. 1 lakh for not invoking TADA
against the Jain brothers in the “Jain hawala case”.
The Indian companies made 72 acquisitions
abroad worth $11 billion in 2912. The
Hindu reported this on 22 March 2013.
The
Hindu on the same day said that the flip flops in the economic policy made
India a bad environment for foreign and domestic investment.
It is pertinent to recall that the RBI, on
4 July 2002, decided to give public money to buy the PSUs. Later, public money
was given to private parties to buy assets abroad.
The recipients said that the foreign
exchange converted many countries into the colonies of India.
Ironically, now they ask the reason for not
utilizing the PF money for public investments.
Should India colonize other countries after
denying not only freedom of information but also pension?
Prime
Minister Manmohan Singh must show mercy and give a reply.
The
Hindu, on 25 March 2013, said that there were two parallel systems of
justice in India- one for the privileged and another for the rest. The paper
said this in connection with another case.
The
Director General of Civil Aviation (DGCA), on 26 March 2013, deregistered
15 aircraft of Kingfisher Airlines to enable global leasing companies to take
them back.
When the licenses were granted to fly on
international routes in 2004, the present writer pointed out the
unconstitutional nature of the decision. Rejecting the letter, Mr. Naresh Goyal of Jet Airways was
given Re.7000 crore through the stock market in 2005. At the same time, Mr. Vijay Mallya of Kingfisher was
granted loan. Which one would survive? Could the Government deny this?
A study - conducted to find out the reason
for the suicides among army personnel - revealed that harassment at the hands
of the superiors served as the final trigger for the soldiers to end their
lives. The Hindu reported this on 26
March 2013.
The newly recruited soldiers and the police
personnel do not give due respect to the seniors mainly because of the
uncertainty in Government pension. Heavy workload is another reason. This situation
demoralizes everyone in public service.
This is Letter No.218.
The Supreme Court of India does not give
any answer even for the letters forwarded to it by the President of India. Thus,
the people are not fully conscious of its ways.
The
facts from 10 March 2013 to 28 March 2013 are being submitted to His Excellency
the President of India and the Supreme Court of India on 29 March 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
29 March 2013.
