1.By the time of 2014 general election the Congress corruption had reached its zenith and had made it weak.  But the pusillanimous LKA leadership was despised both by the BJP cadres as well as the RSS.

2. So there was no match between the two opposing political groups and the prospect for BJP to win the election was bleak in spite of the corruption of the Congress and its weak PM.

3. Ram Janmabhumi movement gained prominence for BJP and brought it to power albeit in a minority situation, while the Mandir issue got bogged down in the SC.

4. The gruesome burning of Kar Sevaks and the subsequent anger of Hindus against the Muslim community was brutally suppressed by Modi but the society was politically divided.

5. LKA tried this time to be more secular and praised Jinnah!  Perhaps to convince the SC to escape conviction but it brought him into direct conflict with the RSS.

6. It was crystal clear and a bold writing on the wall that the BJP cadres and the Hindus at large wont trust LKA. He thoroughly lost their trust.

7. The BJP leadership badly needed a leader who could exploit the weak sitution of the UPA but LKA was not the one yet he resisted.

8. Modi is a great orator, however he had few friends within BJP who only treated him as a head peon for over 20 years.

9. Modi had never visited the parliament even once when he was the CM of Gujarat as he was hounded by Sonia.

10. She knew his power of oration and had tried to keep him within Gujarat and succeeded greatly.

11. RSS and Dr. Swamy had taken the initiative to project Modi and taking adantage of this Advani’s men had silently deserted him.

12. The 5 men Coterie within the BJP calculated that with Modi’s leadership they can be largest single party overtaking Congress.

13. But the enthusiasm and the gathering events have given BJP a vast majority reducing the opposition to a grouping in Rajya Sabha.

14. Modi formed his cabinet surprisingly elbowing out those who would have made a difference from the past. Dr. Swamy was left out.

15. There were two reasons: One was that he was afraid of educated and principled people. Another was his dependency on corrupt old guards.

16. People were impressed with what he had promised and were not ready to give him up.

17. How generous were they in giving him time again and again against each others’ wish?

18. However he betrayed those who voted him especially the Hindus wo supported him with selflessness & faith.

19. People were first saying that Modi will assert and reconsitute the cabinet for a real change. So we waited.

20. He made no change and the old guards ran amok protecting Sonia clique and corrupt ‘babus’ ruled the roost again.

21. Modi knows no economics and no politics beyond the rural Gujarat. The foreign leaders came in droves and found this out to their glee!

22. Modi knew that becoming an exporter of materials would make India richer rather than exporting men as skilled labors.

23. So he embarked on a world tour that lasted over 2 years but there were promises of investment but only on real estates.

24. In the meantime he had lost Delhi, Bihar, Tamilnadu, Kerala and W.Bengal. Not much road made into Andhra or Telengana.

25. Using his ignorance and absence and the help of corrupt babus the enterprenors legally looted the banks and defaulted.

26. Hundreds of lakhs of crores of fixed deposits were coming up to be repaid but raising interest rates to keep them would kill the economy.

27. So the demonetization was devised by which people were told to keep their money in the bank at the risk of losing them.

28. This let off the defaulters free and govt did not have to embark on monetary easing to prevent bank run and price rise.

29. People were starting to express their frustration on his refusal to go after Sonia and Co to retrieve trillion $$ looted.

30. Advani refuses to inquire into the dual citizenship of Rahul Gandhi or the loot of Prianka and her husband. Modi wont touch other Congressmen such as P.Chidambaram.

31. At this juncture Modi cannot change course overnight and the motion he had set for himself will only add steam to what he has started.

32. Globally he joined the left wing countries like China & Russia & pursuing Globalism against the trend set by two two great economic giants – US and UK.

33. His globalist friends consist right from Hillary-Obama clique who are facing jail term to neo-imperialist China that is encircling us.

34. Included in the friends are Russia’s Putin who is a dictator and who wont last long given Russia’s tradition.

35. Just like North Korea being bankrupted by isolation, Iran will feel the wrath of the US and the Sunni states.

36. Though N.Korea is not India’s friend but of China’s which is a member of BRICS nations, Iran is ours as we are dependent on its oil.

37. Without oil the defence of a country will be in shambles. Not a truck or ship will move. This puts us in direct opposition to the US and Israel.

38. Other countries such as Brazil, South Africa & India have no client States to lean on and so they are not superpowers.

39. They are more depedednt on western economy than their new found BRICS friends.

40. And so in this new alliance the triangle of India-Pakistan-China become the the cornerstone of inimicalism, not friendship.

41. Anti-Globalism is bringing back our exported labor replaced by the labor forces of respective countries. This is a vital principle of anti-globalism.

42. The market for finished goods lie in the anti-global west and it is staggeringly shrinking.  Modi cant control it.

43. Opportunities for India that Modi had created by his two year long world tour is not promising. It’s a mirage.

44. Land yourself in this mirage and you will be scorched to death pretty fast.

45. Modi’s fortunes are dwindling. Will Indians sink with him or free itself of him?

Posted in Uncategorized | 1 Comment

Swedish prosecutors drop Assange rape probe

May 19 (Reuters) – Swedish prosecutors have dropped an investigation of WikiLeaks founder Julian Assange over a rape allegation, but British police said he would still be arrested if he left the Ecuadorean embassy in London where he has been holed up.

The following is a timeline of the most important events surrounding the case and WikiLeaks:

June 7, 2010 – The U.S. military says Army Specialist Bradley Manning, who was deployed to Baghdad, has been arrested in connection with the release of a classified video showing a 2007 U.S. helicopter attack that killed a dozen people, including two Reuters news staff, in the Iraqi capital. Accused of leaking government files to the anti-secrecy website WikiLeaks and of aiding the enemy – identified as al Qaeda – Manning faces a court-martial in September 2012.

July 25 – More than 91,000 documents, most of them secret U.S. military reports about the war in Afghanistan, are released by In October, WikiLeaks releases another 400,000 classified military files chronicling the war in Iraq from 2004 to 2009, the largest leak of its kind in U.S. military history.

Nov. 18 – A Swedish court orders Assange‘s detention due to an investigation by a Swedish prosecutor into allegations against him of rape, sexual molestation and unlawful coercion.

Nov. 28 – WikiLeaks releases thousands of U.S. diplomatic cables that include candid views of foreign leaders and blunt assessments of security threats.

Dec. 7 – Assange is arrested by British police on a European warrant issued by Sweden and held in jail after a judge refuses to grant bail. Bail, set at 200,000 pounds, is eventually granted on Dec. 16.

Aug. 25, 2011 – WikiLeaks releases thousands of previously unpublished U.S. diplomatic cables from its cache of more than 250,000 State Department reports.

Oct. 24 – Assange says WikiLeaks will have to stop publishing secret cables and devote itself to fund-raising.

Nov. 2 – Britain’s High Court rules Assange should be extradited to Sweden. A month later, Assange is given permission to appeal. However, the court backs Assange’s extradition to Sweden in May 2012 over alleged sex crimes. Assange appeals in June, but it is rejected.

June 19, 2012- Assange takes refuge in Ecuador’s embassy in London and asks for political asylum to avoid extradition to Sweden. Police say the next day he faces arrest for breaking the conditions of his bail.

Aug. 16 – Ecuador grants Assange political asylum.

Nov. 20, 2014 – A Swedish appeals court upholds a lower court’s rejection of an appeal by Assange to revoke the detention order, but called on prosecutors to make more effort to question him.

March 13, 2015 – After years of insisting Assange must go to Stockholm for questioning, Swedish prosecutors said they want to interview him at Ecuador’s London embassy.

May 11 – The Swedish Supreme Court also upholds the decision to reject Assange’s appeal to revoke the detention order.

Aug. 13 – Swedish prosecutors drop investigations into the allegations of sexual assault against Assange because they had run out of time to bring charges but continue with investigations over the rape allegation.

Sept. 16, 2016 – A Swedish appeals court turns down another request by Assange to review the detention order.

Nov. 14-15 – Assange is interviewed at the Ecuadorian embassy in London. A Swedish prosecutor posed the questions through an Ecuadorian prosecutor.

Jan. 5, 2017 – Swedish prosecutors say they have received a transcript of the November questioning.

March 17 – Federal prosecutors in Alexandria, Virginia, have expanded a long-running grand jury investigation into WikiLeaks.
April 2 – Lenin Moreno wins Ecuador’s presidential election. His conservative opponent had vowed to remove Assange from the embassy.

April 13 – CIA Director Mike Pompeo calls WikiLeaks a “hostile intelligence service”, using his first public speech as spy agency chief to denounce leakers who have plagued U.S. intelligence.
May 3 – Assange’s lawyer again requests a Swedish court to rescind the detention order.
May 19 – Swedish prosecutors say they are dropping their investigation into Assange over the rape allegation, saying there were no further avenues to pursue to take the investigation forward. London police say he will still be arrested if he leaves the embassy building. (Editing by Gareth Jones)
Posted in Uncategorized | Leave a comment


Participatory Notes are a slap on the face of every citizen who is an investor. To invest in shares one has to fill up umpteen forms and provide proof of residence, PAN number, and so on. But for PN investors, the system is totally silent, even on basic information. Why not have confidence in the India story and realise that we can get funds with addresses without offering such anonymity.

The PN system is discriminatory and seems to favour ghost investors.

Participatory Notes (PN) — a general name used for the investment by Foreign Institutional Investors (FIIs) through Offshore Derivative Instruments (ODIs) such as Participatory Notes, Equity-Linked Notes, Capped Return Notes and Participating Return Notes — have created a storm in the stock market, with SEBI coming out with a draft for discussion to regulate them, the RBI suggesting that they be phased out, and the Finance Minister assuring that the Government is not going to phase them out.

First things first. Let us clearly understand the fundamental issues. The PNs are a slap on the face of every citizen who is an investor. For a person to invest even in one share, several KYC (know your customer) forms have to be filled up, and PAN numbers and proof of address, etc., provided. For the PN investor the system is totally silent on even elementary information. The FIIs issue PNs to funds/companies whose identity is not known to the Indian authorities.

Hence, the PN system is blatantly discriminatory and seems to favour ghost investors. Any self-respecting market, if it discriminates at all, does so against outsiders. But we have done the unthinkable.

We should recognise and internalise the fact that funds are in search of markets, and not the other way. Given the demographic shift in the developed markets (where pension funds have to locate markets to get returns for longer periods) and the lack of huge opportunities in long-term projects, it is natural that global funds are in search of markets.

The PN route, through which a section of investors is participating in our markets, is a mystery wrapped in a puzzle, crammed inside a conundrum and delivered through a riddle. These are address-less funds that could be from dubious sources and the clamour for it is intriguing, if not outright suspicious.

Current Scenario

According to the SEBI Web site, the current position of these instruments is as follows: “Currently, 34 FIIs / Sub-accounts issue ODIs. This number was 14 in March 2004. The notional value of PNs outstanding, which was at Rs 31, 875 crore (20 per cent of Assets Under Custody of all FIIs/Sub-Accounts) in March 2004, increased to Rs 3,53,484 crore (51.6 per cent of AUC) by August 2007.

The value of outstanding ODIs, with underlying as derivatives, currently stands at Rs 1,17,071 crores, which is approximately 30 per cent of total PNs outstanding. The notional value of outstanding PNs, excluding derivatives as underlying as a percentage of AUC is 34.5 per cent at the end of August 2007.” (SEBI – Paper for Discussion on ODIs).

This implies that more than 50 per cent of the funds are flowing through this anonymous route which needs a re-think on this entire issue. This brings us to the question about who are the investors interested in Indian Papers.

Who uses the PN route?

The first category is the regular funds whose twin objectives are returns and more returns on a 21*7*365 basis. They are interested in India since the India story is very good and returns are attractive compared to developed markets. The second category is prodigal money returning. It is not a secret that a large number of politicians/bureaucrats/business-persons have accumulated wealth abroad. This has been accumulated by under-invoicing/over-invoicing, by corruption in contracts and gifts from abroad; and by not bringing in legitimate receipts.

The third category is those foreign governments/entities who would like to acquire/control Indian entities by taking them over.

The fourth category is the terror financiers who could find this route attractive and simple. The first category does not have any reason to use the “anonymous” route since the aim is to earn returns /repatriate and benefit out of interest rate and currency value arbitrage. They enter and exit as per these calculations and are not shy about the greed for maximum returns. They pay the taxes applicable and laugh all the way to the bank with bonus incentives.

The only issue is that currently the stock market is the only route for investing while several other “unlisted” sectors, such as trade, transport, restaurants and other services are starved of funds. Maybe methods should be evolved to get these regular global funds to invest not just in the top ten shares of the stock market but in the needs of the large non-corporate or “ unlisted” segments of the economy, through NBFCs. That would ease the volatility in the market since currently large funds are chasing too few shares of the Sensex or Nifty.

No more ‘safe havens’

The second category will be enthusiastic in bringing the money back into India since the KYC (Know your Customer) norms in many so-called “safe” territories like Switzerland are becoming tougher — particularly after 9/11— and the India story is very interesting and the returns and growth prospects are very good. The Government can always think of an “Amnesty Scheme” for such “prodigal funds” in the form of “no questions asked” about the source. But, once the funds are brought in, then all the KYC norms must be followed, with minimum legal and tax hassles. After all, such amnesty schemes for the domestic black-money holders in the past have met with reasonable success. Otherwise, a Special Purpose Vehicle (SPV) can be created which can be dollar-denominated to hold these funds at attractive rates and which are converted over a period of time to minimise the flow impact.

Harmful for companies

The third category spells danger for domestic companies since the unknown entity may be targeting the local company without its knowledge. With reasonable control they can pressure the current owners to settle with them or even try taking over.

This becomes more ominous in the context of several sovereign funds, like that of China, using the private equity companies to manage their funds which are non-transparent.

These PEs could use other vehicles to acquire on behalf of these sovereign funds and it may be possible that Chinese or West Asian sovereign funds may hold indirectly shares in Indian companies, particularly in software or oil or telecom, which are critical sectors.

The fourth category is the one to be worried about. The terror financier will be happy on two counts, namely the anonymity provided by these instruments and the domestic regulations on gifting the shares.

Also important is the issue of the sale of these PNs to entities that could be inter-connected to the original buyers.

In other words, the original buyer and to whom he sells could belong to inter-connected terror entitities, in which case the global entity could have succeeded in transferring funds to India with ease and anonymity.

It is not without basis that the National Security Advisor (NSA) has cautioned against terror-financing through the banking and stock market channels.

That is a cause for concern. Why are we insisting on the anonymity of the investor and the sources? Why not have confidence in the India story and realise that we can get funds with addresses since we have arrived on the global arena?

We should distinguish between clean global flows and dubious flows as a responsible country with a remarkable growth story.

Posted in Uncategorized | Leave a comment

How the courts tracked the cash flow in Poes Garden

File photo of Jayalalithaa at her Poes Garden residence.   | Photo Credit: S.S. Kumar

The Supreme Court on Tuesday upheld a Trial Court’s verdict convicting AIADMK’s interim general secretary V.K. Sasikala, her relatives V.N. Sudhakaran and J. Elavarasi, of criminal conspiracy to acquire and possess assets grossly disproportionate to their known sources of income.

Since the main accused in the case, former Tamil Nadu Chief Minister Jayalalithaa, has died, the charges against her have been abated. But the conviction and sentence against the accused have been upheld, and they have to surrender before the Trial Court in Bengaluru and serve out the remainder of sentence awarded to them.

The Trial Court had taken into consideration valuation of income and expenditure and assets from July 1, 1991 to April 30, 1996. The case of the prosecution was that, as on July 1, 1991, Jayalalithaa had assets in her name and in the name of Sasikala, who was living with her at her Poes Garden residence in Chennai, to the extent of Rs.2,01,83,957, including properties acquired in the name of Jaya Publications, Sasi Enterprises and Namadhu MGR, which had been floated by Jayalalithaa and Sasikala as partners. But, after July 1, 1991, there was sudden spurt in the acquisition of assets, and during this period, Jayalaithaa and Sasikala floated several firms in the names of Sasikala, Sudhakaran and Elavarasi.

Here are the notable facts from the judgment, upholding the Trial Court’s findings

There were no business activities at all at many of the firms, and in others the activities were more in the nature of acquiring assets like lands, machinery, building etc., which were not production oriented. The fact that in a single day, 10 such firms were constituted with identical features was reiterated. No income-tax returns were filed by these firms, nor was there any assessment for commercial tax done with respect to the business of these firms. Jayalalithaa also did not file her income-tax returns for the assessment years 1987-88 to 1992-93 till November, 1992 when this issue was raised in Parliament.

The Trial Court noted that at the commencement of the period there were hardly 10 to 12 bank accounts standing in the names of Jayalalithaa and Sasikala but thereafter 50 accounts mushroomed.

An amount of Rs.13,55,28,685.50 in all, had been deposited by cash through pay-in-slips in the current accounts of Sasikala, Sudhakaran and Elavarasi and the firms, not matching with their income. Apart from being in large amounts — varying from above Rs.50,000 to Rs.33,70,000 – on every occasion, the deposits were also made quite frequently. The pay-in-slips provided in support of such cash deposits even disclose deposits of various amounts in different accounts on the very same date.

The Trial Court noted that the absence of deposits in the account of Jayalaithaa proved that the wealth in circulation had its origin in her coffers. Not only are cash deposits of such huge amounts out of the ordinary, but the mode of deposit — by pay-in-slips through a selected few and at regular frequencies — pointed to laundering of gigantic amounts of unaccounted cash.

There were frequent transfers of amounts between accounts to facilitate illegal acquisition of assets. The huge quantum of such assets, when viewed in the context that Jayalalithaa was holding the office of Chief Minister and that Sasikala, Sudhakaran and Elavarasi were living under the same roof as Jayalalithaa without sufficient means to acquire the assets in their names, established that the assets were actually acquired by Jayalalithaa.

Evidence submitted in the trial showed that a member of staff at Jayalaithaa’s house in Poes Garden used to fill in challans at the direction of Sasikala, and remitted money into various bank accounts on her instructions. The amounts used to be dispatched in suit cases and bags through domestic servants.

The Trial Court took note of the fact that Jayalalithaa, as partner in Jaya Publications, had executed a general power of attorney in favour of Sasikala. Though Jayalaithaa’s defence claimed that such a power of attorney was to give Sasikala a free hand in the management of Jaya Publications and that she was unaware of transactions carried on by her, the Trial Court held that by the execution of such power of attorney, in law, Jayalalithaa rendered herself liable for all acts and deeds of Sasikala.

Not only did Sashikala and Sudhakaran start independent concerns in their names, even defunct companies were purchased/taken over by the respondents. However, none of these firms or companies actually carried on any business except acquiring huge properties. Referring to the fact that at the time of opening of the bank accounts of these firms/companies, none of these entities had any independent resources, the Trial Court deduced that these firms/companies were nothing but extensions of Namadhu MGR and Jaya Publications and owed their existence to the benevolence of Jayalalithaa and Sasikala for continued sustenance.

The joint residence of all the accused persons also was a factor contributing to the charge of conspiracy and abetment. The free flow of money from one account to the other of the respondents, and the companies also proved beyond reasonable doubt that all the accused persons had actively participated in the conspiracy to launder the ill-gotten wealth of Jayalalithaa for purchasing properties in their names.

The Trial Court said that evidence was provided by Sub Registrar, North Beach, Sub Registrar’s Office and Radha Krishnan, Horticulture Officer, that they were called to Poes Garden and on the instructions of higher officers, and they obliged Jayalalithaa by relaxing the rules in the registration of large number of documents and also overlooked the fact that properties were undervalued. This showed the involvement of Jayalalithaa in these transactions. Registering authorities had even permitted the registration of six documents without incorporating the names of the purchasers.

Posted in Uncategorized | 1 Comment

Education in Pakistan

Posted in Uncategorized | Leave a comment

Rose Valley cheques for BJP traced to Andaman

Madhuparna Das| ET Bureau | Feb 7, 2017, 03.04 PM IST

The money trail in Rose Valley scam and some other deposit-taking businesses is also leading to a senior leader of the BJP’s women’s wing in the state.The money trail in Rose Valley scam and some other deposit-taking businesses is also leading to a senior leade… Read More

KOLKATA: After the Trinamool Congress, it is the BJP’s turn to face the heat in the Rs 17,000-crore Rose Valley group deposit-taking scam. Investigators have traced at least three cheques amounting to more than Rs 1 lakh issued in favour of the BJP in the Andaman and Nicobar Islands, during the years when the Rose Valley group had an active business in the area.

The Kolkata Police appears to have stepped up its probe after the Central Bureau of Investigation last month arrested Sudip Bandyopadhyay, the leader of Trinamool Congress’ parliamentary party in Lok Sabha, for his alleged involvement in the Rose Valley group scam which is estimated to be six times bigger than the earlier Saradha group scam.

BJP’s Bishnu Pada Ray, three-term Lok Sabha member from the Andaman and Nicobar Islands, told ET, “The Rose Valley group was doing business in Andaman and Nicobar and like other parties had given us donations. During the operational years, they had given some donation to the party fund. We had taken the amount through cheques.”

Posted in Uncategorized | Leave a comment

CBI’s inaction against Chidambaram led to Maran’s discharge in Aircel-Maxis scam

Was not moving against Chidambaram deliberate so the Maran brothers could escape?

Was not moving against Chidambaram deliberate so the Maran brothers could escape?
Was not moving against Chidambaram deliberate so the Maran brothers could escape?

India’s Central Bureau of Investigation (CBI)’s sheer inaction against the former Finance Minister P Chidambaram for dubious approval of Foreign Investment Promotion Board (FIPB) clearance to Malaysian company Maxis to take over Aircel, resulted in the discharge of former Telecom Minister Dayanidhi Maran and brother Sun TV Group head Kalanidhi Maran. For the past 30 months the CBI has not turned up in the 2G Court after promising in August 2014 to finish the probe on FIPB violations committed by Chidambaram.

Swamy’s version was that Maran only conspired with Chidambaram in illegally bringing Maxis to India.

Maran’s name cropped up in Aircel-Maxis scam in April 2011, when CBI received complaint from Aircel promoter Sivasankaran, alleging that he was arm twisted by the Telecom Minister in 2006 to sell his company to Maxis. CBI went ahead with the arm-twisting theory and stated in Supreme Court on July 7, 2011 leading to Maran’s exit from UPA Cabinet. CBI filed a First Information Report (FIR) against Maran in September 2011 along with brother, Maxis owners T Ananadakrishnan and Ralph Marshall and companies including the Sun TV Group.  Still it is a mystery, as to why Sivasankaran approached CBI against Maran in 2011 on arm-twisting that happened five years ago.

Aircel-Maxis scam shook the Congress, when Bharatiya Janata Party (BJP) leader Subramanian Swamy (then in Janata Party) in April 2012, exposed the role of Chidambaram in the scam and money trail to his son Karti linked firm of around Rs.26 lakhs. Then Swamy went to Supreme Court’s 2G cases monitoring Bench arguing that CBI’s Maran arm-twisting theory was not fully correct and that the actual crime started after P Chidambaram granted the bogus FIPB clearance. Swamy’s version was that Maran only conspired with Chidambaram in illegally bringing Maxis to India.

After Chidambaram was caught, the case went into deep freeze till the United Progressive Alliance (UPA) exited from power. CBI, in August 2014, after pressure from Supreme Court on a Public Interest Litigation (PIL) filed by Prashant Bhushan, charge sheeted Maran and others in August 2014, detailing the illegalities of Chidambaram. CBI promised  in charge sheet and in arguments of finishing soon on the probe on Chidambaram’s illegalities. Though Chidambaram was questioned by CBI in December 2014, CBI did not move an inch due to stalling by allegedly the then pliant CBI Director Anil Sinha and covert operations of the then Revenue Secretary Shaktikanta Das (Das has since been shunted out to be the Secretary of Economic Affairs).

But as FIPB Chairperson Chidambaram did not take it to the Cabinet Committee on Economic Affairs(CCEA).

In the Discharge Order on February 2, 2017, Special Judge of 2G Court OP Saini clearly says that CBI just jumped on Sivasankaran’s complaints and never provided evidence of arm-twisting.  The main illegality was committed by Chidambaram in dubiously giving the FIPB clearance. How can Maran be fixed after the FIPB clearance? Without Chidambaram there is no case against Maran.

What were the illegalities of Chidambaram exposed by Subramanian Swamy and later ratified by the CBI and the Office of the Comptroller and Auditor General (CAG)?

  1. Aircel-Maxis deal is around Rs.3600 cr. ($535 million) But as FIPB Chairperson Chidambaram did not take it to the Cabinet Committee on Economic Affairs(CCEA). This is the only FDI he did not take to CCEA. Why? Because MHA clearance would have been needed as Saudi Telecom, which has telecom operations in Pakistan has shares in Maxis.
  2. That time only 74% FDI was allowed. But using a circuitous route Maxis got 99.93% ownership, which they declared to the Malaysian Stock Exchange.
  3. 74% of the stake was sold at more than Rs. 3600 crores ($535 million) but the remaining 25.93% was sold at just Rs.28 cr. ($4.2 million) It should have been sold at around Rs.1200 cr. ($178 million)
  4. Later CAG found out that the actual money that came was Rs. 4900 cr. ($728 million) though approved by FIPB(illegally) was Rs.3600 cr.). The extra Rs.1300 cr. ($193 million) was a kickback.
  5. ED now summoned Karti in Oct 2016. The five page summons order says to bring 2 lakh dollar his company Chess Management Services Pvt Ltd received from three Maxis companies after father approved this dubious deal.

The million dollar question is who in this BJP-led government protected Chidambaram and son Karti from CBI and ED charge sheeting? Not doing this of the main culprit Chidambaram led to the discharge of Maran brothers. When is CBI going to act on this grave miscarriage of justice?

The 424 page Discharge Order  is published below:

2G Court Discharge Order on Marans in Aircel-Maxis Case Feb 2, 2017 by PGurus on Scribd

Posted in Uncategorized | 1 Comment