Posted on: 05-04-16 18:47:55
The latest in the saga of unearthing black money, not by the GoI, but by a consortium of journalists.
http://indianexpress.com/article/india/india-news-india/panama-papers-list-amitabh-bachchan-kp-singh-aishwarya-rai-iqbal-mirchi-adani-brother/
http://www.dnaindia.com/money/report-here-s-what-you-need-to-know-about-mossack-fonseca-2198016.
Neither the black money bags, nor the people of India need get agitated. Prime Minister Narendra Modi through Supreme Court has appointed Justice M B Shah and SIT Committee. Justice Shah has assured us that he will probe the list "thoroughly", like he has been doing on lists ever since Modi took over. Meanwhile, Modi too has lot more countries to visit.
Public memory being short, Jaitley had announced a compliance window period of 30 days which expired in September last year. Only a few thousand of the several lakh crores could be mopped up. Anyone found guilty after this compliance period should have been hung upside down and lynched at India Gate or Gateway of India or at any other such public place nearest to their residence. But all this will not happen, because we are another banana republic or Panama Republic, meaning the same whichever way we call ourselves.
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Ever since the Panama Papers have got leaked, the RBI Governor has been making one strange statement after another. First he came out in support of defaulters of bank loans who have been the reason for the NPA amounting to lacs of crores. Strange that he equates them with the salaried class forgetting to pay the month's credit card due. He has definitely lost his sense of proportion.
True to being Natwarlals of the educated class, people go into semantics of being "willful" defaulter. Is there any class as "ordinary" defaulter or "wishful" defaulter? These rascals have intentionally defrauded the banks of several thousand crores, not repay their loans for several years but continue to roam around the world and live luxurious lives.
Another case is about confusing people regarding people who made their wealth on their own or if they are widow of 5th generation descendant of some wealthy Marwari. What is important is whether they have paid their taxes, not hiding their wealth, not defaulted on their loans, not shifted their wealth outside India and are hiding the same from the government.
Even though an MMS/UPA appointee, being highly educated and occupied respectable positions, we expected Rajan to be different. But he has forgetten he is receiving salary from the people of India.
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Panama Papers are a trillion dollar affair and all of the people who are exposed by this Discovery are now coming up with a lot of avenues to cover their tracks by which they all can justify their covert activities with explanations to it. But if they did pay taxes on the income generated by these companies, then, I feel that they will be in the clear. I am sure they did not and now are caught RED HANDED and it will take years of legal fights through the courts, before they will resolve these cases. I am sure they all will ultimately pay the fines and get out of the bind they are in and resolve the cases against them.
They will shake it off like the ducks do it off their backs. So, Life still goes on. Read on.
http://indianexpress.com/article/india/india-news-india/panama-papers-chetan-kapoor-thickest-file-is-on-nri-hedge-fund-manager-in-us-prison/
https://www.youtube.com/watch?v=faLUjfFmFe8
I am still reading the materials that are made available and the explanations provided by the Individuals exposed by this. I will keep in touch with the thread also.
FH
Quote:
Originally posted by ramar2005
Neither the black money bags, nor the people of India need get agitated. Prime Minister Narendra Modi through Supreme Court has appointed Justice M B Shah and SIT Committee.
Quick note here, it is not on Narendra Modi's initiative but on Supreme Courts direction that Narendra Modi had to appoint SIT.
This is another storm in the teacup and will die a natural death in a few weeks ..... if it hasn't already died.
See the problem is there are elections in 4 main states in India and BJP cannot be seen as not taking action .... after all the money bags who have stashed their wealth abroad are financiers for both Congress and BJP !!
So the logical option for ruling BJP is to use the "paid media" to forgo highlighting this ....
Quote:
Originally posted by ramar2005
Even though an MMS/UPA appointee, being highly educated and occupied respectable positions, we expected Rajan to be different. But he has forgetten he is receiving salary from the people of India.
Looks like Sonia still has the remote
Quote:
Originally posted by Full House
But if they did pay taxes on the income generated by these companies, then, I feel that they will be in the clear.
FH
Could you please enlighten, if they moved their wealth outside India without the knowledge of the government, does the wealth still belong to them? Or to the people of India.
Think that those who siphon wealth outside India without Government's knowledge cannot claim any right over the same. There is no question of paying taxes. Much of the wealth is either made by criminal mafia activities or are brushing shoulders with the same in those tax havens. The question of paying taxes should not arise at all.
And also much fuss is made about unraveling the money trail when these money bags are very much sitting inside India. Like the police station beat constable or the postman very well knowing the antecedents of the people living in a locality the taxman would also definitely know. Must not be difficult to make the money bags sing, IF the government has the will. It is only this big if and not the secrecy in those godforsaken islands that makes the wealth untraceable.
The money bags have forfeited their right to live inside India. They can go and live inside the locker .where they have hidden their wealth
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@ Ramar, Without knowing the full facts, even I should not be making a general statement like that. But I do give them a waiver and a chance to explain the situation that they have been put into by this expose'.
AND just like me and you, they might not have immigrated to a country of their choice, but they can still maintain their NRI Status and live in any part of this world as they have means to support themselves with income through royalties and investments from their business.
