ज्वाइंट वेंचर के नाम पर एक और कोयला घोटाला

मान लीजिए, आप दावत देना चाहते हैं, उसके लिए राशन एवं अन्य आवश्यक सामान खरीद कर लाते हैं, बावर्ची को बुलाते हैं और उससे भोजन तैयार करने को कहते है. इस काम के बदले बावर्ची आपसे एक तयशुदा रकम लेता है. यह तो हुई एक आम कहानी. अब एक खास कहानी. मान लीजिए, बावर्ची आपसे कहे कि वह भोजन तैयार करने का मेहनताना तो लेगा ही, साथ ही तैयार भोजन का पचास फ़ीसद या उससे भी ज़्यादा हिस्सा अपने साथ ले जाएगा, तो जाहिर है कि आप ऐसी शर्त कभी नहीं मानेंगे, क्योंकि कोई भी समझदार आदमी बावर्ची को भोजन तैयार करने का मेहनताना तो दे सकता है, पर उसके साथ 50 फ़ीसद भोजन नहीं बांट सकता.

लेकिन, एक लाख छियासी हज़ार करोड़ रुपये के कोयला घोटाले के बाद भी चल रहे एक और कोयला घोटाले में यही शर्तें लागू हैं. नतीजतन, कई राज्य सरकारें हज़ारों करोड़ रुपये का नुक़सान जानबूझ कर उठा रही हैं. वे ज्वाइंट वेंचर बनाकर निजी कंपनियों को फ़ायदा पहुंचा रही हैं.

यह पूरी कहानी समझने के लिए दो उदाहरण लेते हैं, राजस्थान एवं छत्तीसगढ़ का. समझते हैं कि राजस्थान एवं छत्तीसगढ़ में अडानी और ज्वाइंट वेंचर के जरिये हज़ारों करोड़ रुपये के कोयले की लूट कैसे हो रही है.

सबसे पहले बात करते हैं छत्तीसगढ़ सरकार की.
केंद्र सरकार ने कई राज्य सरकारों को कोल ब्लॉक आवंटित किए थे. उक्त आवंटन इसलिए किए गए थे, ताकि राज्य सरकारें लगभग मुफ्त में मिले कोयले से सस्ती बिजली का उत्पादन करें और उससे आम आदमी को फ़ायदा मिल सके. लेकिन, इसके बिल्कुल उलट हो रहा है. राज्य सरकार यहां भी निजी कंपनियों के चंगुल से बाहर नहीं निकल सकीं.

छत्तीसगढ़ स्टेट पावर जेनरेशन कंपनी लिमिटेड (सीएसपीजीसीएल) को 2006 में भारत सरकार के कोयला मंत्रालय द्वारा मारवा थर्मल पावर प्रोजेक्ट के लिए परसा कोल ब्लॉक आवंटित किया गया.

2012 तक 1549.06 करोड़ रुपये का ऩुकसान
पारसा कोल ब्लॉक में 172.30 मीट्रिक टन कोयला है. एसईसीएल ने एफ ग्रेड की क़ीमत 570 रुपये/टन, ई ग्रेड की क़ीमत 730 रुपये/टन और डी ग्रेड की क़ीमत 880 रुपये/टन निर्धारित की थी. यानी एफ ग्रेड की क़ीमत आधार बनती, तो डी ग्रेड के कोयले पर 310 रुपये/टन, ई ग्रेड के कोयले पर 160 रुपये/टन की बचत सरकार को होती, लेकिन कोल प्राइसिंग की शर्तें बदलने से सरकार को नुक़सान हुआ. दरअसल, टेंडर के प्राइस खोले जाने से पहले सीएसपीजीसीएल ने टेंडर के लिए आवेदन करने वाली कंपनियों की बैठक बुलाई थी, जिसमें एईएल ने कहा कि निकाले जाने वाले कोयले की वास्तविक श्रेणी के आधार पर कोयला देने की क़ीमत तय हो.

इससे हुआ यह कि एफ ग्रेड वाली शर्त बदल गई. चूंकि इस इलाके में डी और ई ग्रेड का कोयला ज़्यादा है और उसकी क़ीमत एफ ग्रेड से ज़्यादा होती है. अडानी को वास्तविक श्रेणी के कोयले का मूल्य मिला, न कि पहले की शर्त के मुताबिक सभी श्रेणी के कोयले के लिए एफ ग्रेड का मूल्य. सीएसपीजीसीएल ने अडानी इंटरप्राइजेज लिमिटेड के कहे अनुसार कोल माइनिंग शुल्क के भुगतान संबंधी शर्त में संशोधन कर दिया.

इसके अनुसार जिस श्रेणी का कोयला निकाला जाएगा, उसी श्रेणी के कोयले की एसईसीएल द्वारा तय क़ीमत के आधार पर माइनिंग शुल्क दिया जाएगा. नतीजतन सीएजी के मुताबिक, राज्य सरकार को 1549.06 करोड़ रुपये का नुक़सान उठाना पड़ा. हालांकि सीएजी की यह रिपोर्ट 2012 की है और जेवी के तहत यह खेल अभी तक चल रहा है. इस हिसाब से यह नुक़सान अब तक क़रीब पांच हज़ार करोड़ रुपये के आंकड़े को छू चुका होगा.

सीएसपीजीसीएल ने अपने बोर्ड ऑफ डायरेक्टर की बैठक, जो जून 2008 में हुई थी, में एक फैसला लिया. यह फैसला था ज्वाइंट वेंचर (जेवी) बनाने का, ताकि आवंटित ब्लॉक से कोयले का खनन किया जा सके. फरवरी 2009 में कंपनी ने जेवी पार्टनर के लिए टेंडर निकाला. टेंडर की शर्तों के मुताबिक, जेवी पार्टनर वही हो सकता था, जो कोल इंडिया लिमिटेड या साउथ ईस्टर्न कोलफील्ड लिमिटेड के कोयले की क़ीमत से कम क़ीमत पर कोयला दे. एसईसीएल (साउथ ईस्टर्न कोलफिल्ड लिमिटेड), एमएमटीसी (मेटल्स एंड मिनरल्स ट्रेडिंग कॉरपोरेशन ऑफ इंडिया लिमिटेड) और एईएल (अडानी इंटरप्राइजेज लिमिटेड) ने जेवी के लिए आवेदन किया.

ग़ौरतलब है कि एसईसीएल एवं एमएमटीसी भारत सरकार की कंपनियां हैं और अडानी इंटरप्राइजेज एक निजी कंपनी है, जिसके मालिक गौतम अडानी हैं. अंत में 19 अक्टूबर, 2009 को अडानी इंटरप्राइजेज लिमिटेड (एईल) को जेवी पार्टनर चुन लिया गया. अडानी ने सीआईएल एवं एसईसीएल के कोयले की क़ीमत से तीन प्रतिशत कम क़ीमत पर कोयला देने की बात कही थी.

सुप्रीम कोर्ट ने क्या कहा
सुप्रीम कोर्ट ने याचिका संख्या 120/2012 पर सुनवाई करते हुए बीते 25 अगस्त को अपना फैसला सुनाया. सुप्रीम कोर्ट ने 1993 से 2010 के बीच हुए सारे कोल ब्लॉक आवंटन रद्द कर दिए. अपने 163 पेज के ़फैसले में अदालत ने कहा है कि यह कोल माइंस नेशनलाइजेशन एक्ट के ख़िलाफ़ है कि केंद्र सरकार राज्य को कमर्शियल माइनिंग की अनुमति दे. चौथी दुनिया से बात करते हुए एनर्जी एक्सपर्ट एवं सामाजिक कार्यकर्ता सुदीप श्रीवास्तव कहते हैं कि जब सुप्रीम कोर्ट ने सारे कोल ब्लॉक आवंटन अवैध ठहरा दिए हैं, तो ऐसे में राज्य सरकार द्वारा किए गए सारे ज्वाइंट वेंचर और एमडीओ कांट्रैक्ट भी अपने आप अवैध माने जाएंगे.

इस हिसाब से देखें, तो राजस्थान एवं छत्तीसगढ़ समेत अन्य राज्य सरकारों द्वारा निजी कंपनियों के साथ बनाए गए ज्वाइंट वेंचर्स को तत्काल प्रभाव से काम बंद कर देना चाहिए. साथ ही सीएजी को यह पूरा मामला इकट्ठा करके बताना चाहिए कि ज्वाइंट वेंचर के नाम पर इन निजी कंपनियों ने कितने हज़ार या कितने लाख करोड़ रुपये का चूना इस देश को लगाया है. यह इसलिए भी ज़रूरी है, क्योंकि अकेले छत्तीसगढ़ के लिए सीएजी की रिपोर्ट के मुताबिक, 2012 तक छत्तीसगढ़ सरकार को क़रीब 1550 करोड़ रुपये का ऩुकसान हो चुका है.

ऐसे में अगर अन्य राज्यों में ज्वाइंट वेंचर के जरिये हुए ऩुकसान को, वह भी आज की तारीख तक, जोड़ दिया जाए, तो नुक़सान का यह आंकड़ा बहुत बड़ा हो सकता है.

अब असल कहानी इसके बाद शुरू होती है.
जुलाई 2010 में छत्तीसगढ़ स्टेट पावर जेनरेशन कंपनी लिमिटेड (सीएसपीजीसीएल) और अडानी इंटरप्राइजेज लिमिटेड (एईएल) के बीच एक ज्वाइंट वेंचर बना, जिसका नाम है, सीएसपीजीसीएल एईएल पारसा कोलियरीज लिमिटेड. इस जेवी में सीएसपीजीसीएल के पास 51 फ़ीसद शेयर थे और एईएल के पास 40 फ़ीसद.

आश्‍चर्य की बात यह है कि सीएसपीजीसीएल को कोल ब्लॉक मुफ्त में मिला था, उसे केवल खनन करके कोयला बाहर निकालना था. जाहिर है, यह काम कोई भी खनन कंपनी खनन की क़ीमत लेकर कर सकती थी, लेकिन सीएसपीजीसीएल ने कोयले के बाज़ार भाव पर अडानी इंटरप्राइजेज लिमिटेड से समझौता करके ज्वाइंट वेंचर बनाया, साथ ही उसे 40 फ़ीसद शेयर भी दे दिए और अपना ही कोयला उसने अडानी से बाज़ार भाव से स़िर्फ तीन फ़ीसद कम क़ीमत पर खरीदा. यानी अडानी को इस पूरे मामले में बिना कोल ब्लॉक मिले, स़िर्फ खनन करने के काम से वह फ़ायदा मिला, जो राज्य सरकार मुफ्त में मिले कोल ब्लॉक से नहीं उठा सकी. जाहिर है,

इस हिसाब से अगर सीएजी नुक़सान का अंदाजा लगाए, तो यह नुक़सान हज़ारों करोड़ का हो सकता है. ऐसे में सवाल उठता है कि इस तरह के ज्वाइंट वेंचर के पीछे राज्य सरकार की भूमिका क्या थी? सीएजी ने अपनी रिपोर्ट में कहा है कि एक बार जब टेंडर की शर्त में एफ ग्रेड कोयले की क़ीमत को आधार बना दिया गया, तब अडानी इंटरप्राइजेज लिमिटेड के कहने पर संशोधन क्यों किया गया?

सीएजी ने बताया है कि सीएसपीजीसीएल को यह जानकारी थी कि उसके पास डी और ई ग्रेड कोयले की मात्रा अधिक है. इसका मतलब यह हुआ कि सरकार ने जानबूझ कर, टेंडर में पहले बनाए गए एफ ग्रेड कोयले की क़ीमत (जो कम होती है) के आधार को अडानी के कहने पर बदल दिया. जाहिर है, इससे रमन सिंह सरकार की मंशा पर भी सवाल उठता है कि आख़िर किसके दबाव में रमन सिंह सरकार ने टेंडर के नियमों में फेरबदल किया?

ज्वाइंट वेंचर के नुक़सान

• अगर जेवी की ज़रूरत थी, तो यह कोयला निकालने वाली कंपनी के साथ होना चाहिए.
• समझौता खनन लागत पर होना चाहिए था, न कि बाज़ार भाव पर.
• कोल ब्लॉक मुफ्त मिला, फिर भी सरकार ने बाज़ार भाव से स़िर्फ तीन प्रतिशत कम क़ीमत पर अपना ही कोयला अडानी से खरीदा.
• जो मुनाफ़ा सरकार को होना चाहिए था, वह अडानी के खाते में चला गया.
• प नतीजतन, सरकार को नुक़सान उठाना पड़ा और जनता को सस्ती बिजली भी नहीं मिली.

अब जरा एक नज़र राजस्थान विद्युत ऊर्जा निगम लिमिटेड (आरवीयूएनएल, राज्य सरकार का एक उपक्रम) पर भी डालते हैं.

छत्तीसगढ़ जैसा ही एक ज्वाइंट वेंचर राजस्थान विद्युत ऊर्जा निगम लिमिटेड ने भी अडानी इंटरप्राइजेज के साथ किया है. इसकी भी कहानी बहुत हद तक छत्तीसगढ़ जैसी है.

सर्वविदित है कि कोयला मंत्रालय राज्यों को सस्ती बिजली के उत्पादन के लिए कोल ब्लॉक देता है. 2007 में कोयला मंत्रालय ने राजस्थान विद्युत ऊर्जा निगम लिमिटेड को भी दो कोल ब्लॉक दिए थे, ये कोल ब्लॉक भी छत्तीसगढ़ में स्थित हैं. छत्तीसगढ़ के हसदेव में दो कोल ब्लॉक-पारसा ईस्ट और केंटे बेसिन आरवीयूएनएल को आवंटित किए गए थे. आरवीयूएनएल ने भी बजाय स़िर्फ खनन का काम कराने (खनन की क़ीमत देकर) के अडानी के साथ ज्वाइंट वेंचर किया. अच्छा तो यह होता कि राजस्थान विद्युत ऊर्जा निगम लिमिटेड (आरवीयूएनएल) खुद या किसी सरकारी एजेंसी से कोल माइनिंग का काम कराता. मान लीजिए, यह भी संभव नहीं था, तो राजस्थान विद्युत ऊर्जा निगम लिमिटेड यह काम किसी ऐसी निजी कंपनी से कराता, जिसे केवल खनन क़ीमत यानी माइनिंग चार्ज देना पड़ता.

जानकारी के मुताबिक, लेकिन ऐसा कुछ भी नहीं हुआ. इसके उलट, आरवीयूएनएल ने 2008 में अडानी इंटरप्राइजेज से समझौता किया और दोनों ने मिलकर एक ज्वाइंट वेंचर बनाया, जिसका नाम था, पारसा केंटे बेसिन कोलियरीज लिमिटेड. इसके बाद अडानी इंटरप्राइजेज की सहायक कंपनी अडानी माइनिंग प्राइवेट लिमिटेड ने पारसा केंटे बेसिन कोलियरीज लिमिटेड (पीकेसीएल) के साथ माइनिंग के लिए एक समझौता किया. प्राप्त जानकारी के मुताबिक, इस ज्वाइंट वेंचर में 74 फ़ीसद हिस्सेदारी अडानी को मिली और 26 फ़ीसद हिस्सेदारी आरवीयूएनएल को. आप खुद अंदाजा लगाइए कि जब कोल ब्लॉक आरवीयूएनएल को सस्ती बिजली बनाने के लिए लगभग मुफ्त मिले थे, तब ऐसे में 74 फ़ीसद शेयर अडानी को क्यों दे दिए गए?

इस ज्वाइंट वेंचर के मुताबिक अडानी के हिस्से में भूमि अधिग्रहण, माइनिंग, कोल वाशरी प्लांट की स्थापना, ट्रांसपोर्टेशन के लिए रेल लाइन (सरगुजा रेल कॉरीडोर) बिछाने और कोल वाशरी रिजेक्ट्स का (निम्नस्तरीय कोयला) खुद के पावर प्लांट के लिए इस्तेमाल करने की बात थी. इन दोनों कोल ब्लॉक की क्षमता 450 मिलियन टन है.

अब आप यह समझिए कि आख़िर कोयले की लूट का यह खेल कैसे खेला गया? जानकारी के मुताबिक, अडानी माइनिंग प्राइवेट लिमिटेड को कोयला खनन का खर्च 250 रुपये प्रति टन आता है. अडानी माइनिंग इसे ज्वाइंट वेंचर पीकेसीएल को बेचती है 675 रुपये प्रति टन के हिसाब से. इसके बाद जेवी यही कोयला आरवीयूएनएल को प्रति टन 736 रुपये के हिसाब से बेचता है. यह बाज़ार मूल्य (कोल इंडिया के रेट) से 64 रुपये यानी 8 फ़ीसद कम है. यही 64 रुपया मुनाफ़ा है इस जेवी का.

इस मुना़फे में से 74 फ़ीसद अडानी और 26 फ़ीसद आरवीयूएनएल का है. यानी आरवीयूएनएल के हिस्से में मुनाफ़ा आता है प्रति टन 16 रुप. दूसरी तरफ़ अगर आरवीयूएनएल खनन लागत के आधार पर कोयला लेती, तो उसे किसी भी खनन कंपनी को प्रति टन कोयले के लिए स़िर्फ 250 रुपये प्रति टन देना पड़ता. यानी अभी खरीदे जा रहे कोयले की क़ीमत के मुकाबले 500 रुपये प्रति टन से अधिक का फ़ायदा होता. लेकिन, ज्वाइंट वेंचर की यही महिमा है कि आरवीयूएनएल अपना ही कोयला किसी और से 500 रुपये प्रति टन अधिक देकर खरीद रहा है.

जाहिर है, सरकार या सीएजी इस मसले पर अभी भी गंभीरता से नहीं सोच रही है, लेकिन ज्वाइंट वेंचर के इस खेल को लेकर सवाल तो उठते ही हैं. एक सबसे बड़ा सवाल है कि अडानी को किस आधार पर छत्तीसगढ़ और राजस्थान सरकार ने क्रमश: 49 एवं 74 फ़ीसद शेयर दे दिए. लगभग मुफ्त में मिले कोल ब्लॉक के खनन के लिए (अगर यह तर्क मान लिया जाए कि राज्य सरकार खनन का काम करने में असमर्थ थी) अगर ज्वाइंट वेंचर की ज़रूरत थी, तो यह खनन लागत के आधार पर क्यों नहीं बनाया गया?

जो मुनाफ़ा इन राज्य सरकारों को हो सकता था, वह किसी निजी कंपनी को क्यों दे दिया गया? ऐसे में यह ज़रूरी है कि सीएजी सभी राज्य सरकारों (जहां भी ऐसे ज्वाइंट वेंचर बने हैं) का पूरा ऑडिट करके वास्तविक नुक़सान की गणना करे और यह बताए कि अब तक कोयला लूट के इस नए तरीके से देश को कितने रुपये का नुक़सान हुआ है.

सबसे बड़ा सवाल यह कि क्या केंद्र सरकार लूट के इस नए और अनोखे तरीके की जांच अपनी ओर से पहल करके कराएगी या वह एक और सीएजी रिपोर्ट का इंतज़ार करेगी?

साभार:
September 22nd, 2014
- See more at: http://www.chauthiduniya.com/2014/09/joint-vencher-ke-naam-per-ek-or-koyla-ghotala.html#sthash.pgwCJtlm.dpuf

Chit Fund Scam: Odisha ex-AG held

Mohanty was arrested from his Cuttack residence in connection with a land deal

The CBI today arrested former Advocate General Ashok Mohanty in connection with the chit fund scam case  and took him on two day remand after producing him in the special chief judicial magistrate court here.

The  CBI counsel had sought a three-day remand while Mohanty’s counsel had moved a bail petition.

Earlier during the day, Mohanty was arrested from his Cuttack residence in connection with a land deal he had done with AT group chief Pradip Sethy. He was brought to the CBI office and questioned before being taken for medical examination and later to the court.

Mohanty  was  questioned on his purchase of a house in Cuttack from Sethy for Rs 1.01 crore in 2013. The payment made and the bank account etc.

Reliable sources said the bank transaction did not reflect the entire amount. Further, the charge is that the former AG had misused his official position in entering in to the transaction with Sethy when he was already facing a police case in the ponzi scam.

Mohanty , known to be a upright person who did not even have a house at Cuttack till he purchased one from Sethy, however said his conscience is clear. “I have complete faith in God and my ‘guru’. Truth shall prevail, I have acted in good faith and I hope people will retain the trust and confidence in me that they have had all these years”.

It may be recalled that Mohanty had been interrogated by the CBI on 13 September. He had insisted that he paid Rs 1.01 crore for the house in CDA and that it was no favor of gift.

True to his character Mohanty had resigned from the AG post after the general elections.

The CM Naveen Patnaik had not accepted his resignation till 12 September, when Mohanty received summons from the CBI.

Significantly, Mohanty’s arrest evoke sharp dissent from lawyers as well as administrative circles here.

Members of the Bar Council decried the arrest. If the CBI claims to have prima facie evidence based on documents, it cannot be tampered with, secondly no witness can be intimidated or gained over nor can a person of Mohanty’s stature abscond , so where is the need for arresting him, said lawyers of the High Court Bar.

The arrest s totally unwarranted, the CBI could have named him in the charge sheet and the court summoned him, they said.

A large section of the people from all walks of life in Cuttack and Bhubaneswar expressed dismay over the arrest.

BJD MP Bhartruhari Mahatab who represents Cuttack LS constituency said the CBI seems to be in the habit of trying to be in the new always by conducting such arrests. It is unwarranted, I know Mohanty since decades, said Mahatab. His party , however, tried to distance itself from Mohanty saying it was a ‘personal party’ not involving the party or the government.

The Opposition Congress and BJP said the government cannot shirk its responsibility. The particular purchase of house by Mohanty had been raised in the Assembly by the Opposition but at that point in time the government ignored it and the police never took any action, charged BJP state president K V Singh Deo.

What was the police doing for the whole of last year when it was investigating the chit fund scam, he asked, implying that the BJD had tired its best to cover up involvement of party leaders and other funcationaries.Speculations are that the CBI will interrogate a few senior police officers and bureaucrats.
Courtesy:
The Statesman
23 Sep 2014
Statesman news Service
Bhubaneswar, 22 September
http://www.thestatesman.net/news/78447-Chit-fund--Odisha-ex-AG-held.html

Chop hands of forgers, says HC judge

CHENNAI: It is unfortunate that the country does not have laws to chop off hands and fingers of fraudsters who forge property documents, the Madras high court lamented on Thursday. Justice S Vaidhyanathan, refusing to order release of property documents registered on the basis of forged papers, also imposed a fine of 1 lakh on the person who committed the fraud.

"In Islamic countries, horrifying punishment of cutting hands and chopping off fingers for even petty thefts is implemented. I came across an article that said Iran has unveiled its latest innovation in criminal punishment - a machine that cuts off fingers of thieves. It is being used for cutting off the fingers of culprits by a court in Shiraz. For forgery, this court is of the view that such a stringent punishment of chopping off fingers should be awarded to the petitioner," the judge said.

"Unfortunately, in our country there is no stringent law to cut off the hands of persons who indulge in fabricating documents. If laws are rigid and deterrent, criminals will not dare to indulge in illegal activities like the case on hand, wherein officials of a sub-registrar office were hand in glove with criminals to help them usurp and loot the properties of innocents," he said.

Citing the Quran, the judge said theft was 'haraam'. "The Prophet cursed the thief because he is a corrupt element in society, and if he is left unpunished, his corruption will spread and infect the body of the ummah (nation)," he said.

The matter relates to a petition filed by P M Elavarasan, seeking to direct the Saidapet district registrar and Virugambakkam sub-registrar to assign a registration number to his property and release the documents. The authorities withheld the documents after realising that the property belonged to V V V Nachiappan's family and the land documents had been forged by Elavarasan. His counsel, however, argued that the registering authorities did not have the power to probe ownership and title of the property and that they are obliged to return registered documents.

Justice Vaidhyanathan, rejecting the demand, said it was a clear attempt to grab land and expressed shock that such fraud took place with the connivance of officials in the registration department. Upholding the decision to withhold the documents, the judge said Elavarasan had the temerity to approach the court for a favourable order despite having perpetrated forgery and fraud. The court then imposed 1 lakh cost on Elavarasan and directed him to pay 25,000 each to four service organisations, including the Adyar Cancer Institute, within a month.

Noting that the court could not remain a silent spectator, the judge said it would deal with such people with an iron hand. He then expressed hope that authorities and the court concerned would initiate criminal proceedings against Elavarasan for his illegal activities and award maximum sentence after a speedy trial.
Courtesy:
A Subramani,TNN | Jul 11, 2014, 12.45 AM IST
http://timesofindia.indiatimes.com/City/Chennai/Chop-hands-of-forgers-says-HC-judge/articleshow/38155113.cms

देश भर में पसरा चिटफंड की ठगी का काला कारोबार

शारदा समूह द्वारा किये गये 20000 करोड़ रुपये के घोटाले में धोखाधड़ी के लिए सिर्फ वित्तीय नियामकों को दोषी नहीं माना जा सकता। वर्तमान समय में देश में अनेकानेक गैर-बैंकिंग वित्तीय कंपनियाँ काम कर रही हैं, जिनमें से अधिकांश चिट-फंड का धंधा करती हैं और हालिया समय में उनपर निगरानी रखने में हमारी वित्तीय नियामक संस्थाएँ पूरी तरह असफल रही हैं।

जाहिरा तौर पर इस तरह की ठगी, सरकार की क्षमता एवं काबिलियत पर प्रश्नचिन्ह खड़ा करती हैं। इस सिक्के का दूसरा पहलू भी पूरी तरह से पाक-साफ नहीं है। दूसरे शब्दों में कहा जाये तो इस खेल में निवेशक भी उतने ही दोषी हैं, जितने कंपनियों के प्रर्वत्तक या मालिक। यह खेल सदियों से चल रहा है।आगे भी चलता रहेगा, क्योंकि हमारे देश में लालच का कोई इलाज नहीं है। वैसे इस बाबत लालच के साथ-साथ अषिक्षा, गरीबी, अंधविश्वास , भ्रष्टाचार आदि को भी महत्वपूर्ण कारण माना जा सकता है।

पड़ताल से जाहिर है शिक्षित एवं समझदार लोग कम ही इस तरह की कंपनियों के झांसे में आते हैं। अमूमन छोटे-मोटे स्तर पर कारोबार करने वाले या रिक्षा-ठेला चलाने वाले या फिर असंगठित क्षेत्र में दिहाड़ी मजदूरी करने वाले जैसे लोग चिट-फंड चलाने वाली इस तरह की कंपनियों के एजेंटों के बहकावे में आकर या अधिक ब्याज के लालच में या फिर पैसों के दुगना होने के लालच में अपनी जिंदगी भर की कमाई एक झटके में लुटा देते हैं।

इस ठगी के खेल में परोक्ष रुप में बहुत सारे ऐसे लोग भी शामिल रहते हैं, जिन पर कभी कोई कार्रवाई नहीं की जाती है। ऐसे लोगों को लगता है कि उनका इस तरह की धोखाधड़ी से कोई सरोकार नहीं है।

इसके बरक्स बता दें कि चिट-फंड का करोबार करने वाली तकरीबन सभी कंपनियाँ आम आदमी को बेवकूफ बनाने के लिए विज्ञापन का सहारा लेती हैं। विज्ञापन का प्रकाशन-प्रसारण प्रिंट एवं इलेक्ट्रॉनिक मीडिया के द्वारा होता है। इसमें श्रव्य माध्यम अर्थात रेडियो भी शामिल है।

नई जमाने की मीडिया यानि इंटरनेट भी इस मामले में अपनी महत्ती भूमिका निभा रहा है। यहाँ इस सवाल का उठना लाजिमी है कि क्या हम जान-बूझकर केवल अपने व्यवसायिक लाभ के लिए ठगी के कारोबार को बढ़ावा दे रहे हैं?

शारदा समूह के मामले में कंपनी के पर्वत्तकों ने बड़ी चालाकी से पूरी तैयारी के साथ आम लोगों को चूना लगाने का काम किया है। इनका ठगी का काला कारोबार विगत दो दशकों से पश्चिम बंगाल के साथ-साथ देश के कुछ दूसरे राज्यों में बेधड़क चल रहा था।

बीते तीन सालों से शारदा समूह का नाम सुर्खियों में था। इन वर्षों में इस समूह का कमोबेश पूरे देश बहुत तेजी से विस्तार हुआ। इतना ही नहीं सत्ता के गलियारों में भी इनकी धमक सुनाई देने लगी।

कंपनी के प्रमुख प्रर्वत्तकों यथा देबजानी मुखोपाध्याय, अरविंद सिंह, श्री सुदीप्तो सेन आदि में से शारदा समूह के चेयरमैन सुदीप्तो सेन अपने को महान धर्मगुरु राम कृष्ण परमहंस की पत्नी शारदा मणि मुखोपाध्याय का पुत्र बताते हैं। श्री सेन ने उनके नाम पर ही अपनी सभी कंपनियों का आरंभिक नाम शारदा और समूह का नाम शारदा समूह रखा। श्री सेन अच्छी तरह से जानते थे कि अनपढ़, गरीब एवं धर्मभीरु लोग माँ शारदा के नाम की वजह से स्वभाविक रुप से उनकी कंपनी में अपना पैसा निवेश करेंगे। शारदा नाम के साथ विष्वासघात करने से वे अपने इरादे में बहुत हद तक कामयाब भी रहे।

कालांतर में जैसे ही षारदा समूह के पास पूँजी इकट्ठाहुई,श्री सेन एवं उनके सहयोगी बांग्ला एवं अन्य क्षेत्रीय भाषाओं की फिल्मों को फाइनेंस करने लगे, जिससे उनकी पैठ फिल्मी कलाकारों के बीच हो गई। अखबार एवं टेलीविजन चैनलों पर वे फिल्मी कलाकारों के साथ आने लगे। फिल्म के प्रमोशन के लिए समूह के प्रर्वत्तक फिल्मी कलाकारों के साथ राज्य के हर कस्बा एवं तहसील का दौरा करते थे। इस वजह से शारदा समूह के ब्रांड वैल्यू में जबर्दस्त इजाफा हुआ। विदित हो कि आम लोगों के बीच फिल्मीकलाकारों की गतिविधियों का असर उनके जीवन में बहुत ही व्यापक होता है। वे अक्सर दैनिक क्रियाकलापों में उनकी नकल करते हैं।

अपने इस बिजनेस को आगे बढ़ाने एवं उसपर सच्चाई तथा विष्वास का मुल्लमा चढ़ाने के लिए शारदा समूह के प्रर्वत्तकों ने नेताओं, पत्रकारों, वकीलों, जजों एवं प्रशासन के नुमाइंदों से अपनी नजदीकियाँ बढ़ाई।

श्री सेन द्वारा सीबीआई को सौंपी गई 18 पन्नों के पत्र के मुताबिक तृणमूल के दो सांसद,असम सरकार के एक मंत्री, नरसिंहराव सरकार में मंत्री रहे मतंग सिंह, उनकी पत्नी मनोरंजना सिंह, चिदंबरम साहब की पत्नी नलिनी चिंदबरम आदि का संबंध किसी न किसी रुप में शारदा समूह के साथ रहा है।इस ठगी कांड में जिस तरह से रोज नया षगूफा छोड़ा जा रहा है, उससे लगता है कि यह आग इतनी जल्दी बुझने वाला नहीं है। मामले में नलिनी चिदंबरम का नाम उछलने से कहानी में सियासी रंग चढ़ने लगा है।

कहा जा रहा है कि सिर्फ पष्चिम बंगाल के 19 जिलों में इस समूह के एक लाख से ज्यादा एजेंट 368 शाखाओं के माध्यम से लोगों को मूर्ख बनाने के काम को बखूबी अंजाम दे रहे थे।

शारदा समूह का विस्तार केवल पश्चिम बंगाल तक ही सीमित नहीं है, वरन् इसके एजेंट उड़ीसा, झारखंड, असम, कर्नाटक, राजस्थान, तामिलनाडु आदि राज्यों में भी सक्रिय थे। इन राज्यों में 165 वैसी कंपनियाँ, जिसका नाम शारदा से शुरु होता है, कार्य कर कर रही थीं। गौरतलब है कि ये कंपनियाँ भी चिट-फंड का ही काम कर रही थीं।इनके एजेंट साइबर संसार के जरिये भी लोगों को अपने जाल में फंसाते थे।

इसमें दो मत नहीं है कि पहले की तरह इस मामले में भी भारतीय प्रतिभूति और विनिमय बोर्ड (सेबी) अपना काम करने में असफल रहा है।

शारदा समूह में व्याप्त अनियमितता एवं उसके द्वारा की गई ठगी के परिप्रेक्ष्य में भारतीय रिजर्व बैंक, प्रवर्तन निदेशालय, आयकर विभाग आदि एजेंसियों को भी क्लीन चिट नहीं दिया जा सकता है। पुनश्च इस आलोक में यह भी सच है कि इस तरह की धोखाधड़ी के मामलों में अभी भी हमारे देश में स्पष्ट कानून का अभाव है, जिसके कारण अक्सर दोषी सजा पाने से बच जाते हैं।

पश्चिम बंगाल की सरकार ने शारदा चिट-फंड घोटाले की जाँच एसआईटी से करवाने का फैसला लिया है। वैसे जाँच के निहितार्थ से सभी अवगत हैं। पूरा एपिसोड चाहे जितना नकारात्मक हो, इस संबंध में एक सकारात्मक बात यह है कि इस ठगी ने लोगों के बीच जनजागरण करने का काम किया है। सरकार भी इस तरह की कंपनियों के खिलाफ कार्रवाई करने के प्रति थोड़ी गंभीर हुई है। सरकारी एजेंसी गंभीर धोखाधड़ी जाँच कार्यालय (एसएफआईओ) ने चिट-फंड की 57 कंपनियों के विरुद्ध जाँच करने का फैसला किया है।

देखा गया है कि विगत सालों में चिट-फंड कंपनियों ने आर्थिक, शैक्षिक एवं सामाजिक रुप से पिछड़े पूर्वोत्तर राज्यों को अपना निशाना बनाया है। इसलिए पूर्वोत्तर राज्यों के प्रमुखों ने चिट-फंड कंपनियों पर शिकंजा कसने के लिए केन्द्र सरकार एवं वित्तीय नियामक एजेंसियों से इस बाबत सख्त कदम उठाने का अनुरोध किया है।

बिहार के उप मुख्यमंत्री सुषील कुमार मोदी ने भी हाल ही में सेबी के प्रमुख यू.के.सिन्हा से मिलकर बिहार में फर्जी तरीके से कार्य करने वाले गैर बैंकिंग वित्तीय कंपनियों के खिलाफ कड़ी कार्रवाई करने का अनुरोध किया है। इसी क्रम में पश्चिम बंगाल की सरकार ने विशेष सत्र बुलाकर निवेशकों की रक्षा के लिए ‘पश्चिम बंगाल वित्तीय संस्था में जमाकर्त्ता का हित संरक्षण विधेयक, 2013’ पास करवाने का फैसला लिया है।

मौजूदा समय में गैर-बैंकिंग वित्तीय कंपनी के नाम पर चिट-फंड का धंधा करने वाली कंपनियों की संख्या में तेजी से इजाफा हुआ है, जिसमें से अधिकांष कंपनियाँ पंजीकृत नहीं हैं। पंजीकरण के अभाव में इस तरह की कंपनियों के खिलाफ कार्रवाई करने में पुलिस एवं कानून को अक्सर मुश्किल का सामना करना पड़ता है।

इस संबंध में ध्यान देने योग्य बात यह भी है कि अधिकांश चिट-फंड कंपनियों का ठगी का तरीका शारदा समूह की तर्ज पर है, जिसपर लगाम लगाना विविध वित्तीय नियामक संस्थानों एवं सरकार के लिए किसी चुनौती से कम नहीं है।

जानकारों के अनुसार इस तरह की कंपनियों पर तभी नकेल कसा जा सकता है, जब हमारे देष में आर्थिक अपराध को गंभीर अपराध की श्रेणी में रखा जाये। इस संदर्भ में सबसे अहम पहलू यह है कि इस तरह से ठगी के षिकार लोगों का आमतौर पर पैसा वापस नहीं मिलता है।

कानून में व्याप्त कमियों/खामियों की वजह से हमारे देष में धोखाधड़ी करने वाले लोग आसानी से कानून के शिकंजे से बाहर निकल जाते हैं, जबकि ठगी का शिकार हुए कुछ लोग आर्थिक तंगी की वजह से आत्महत्या तक करने पर मजबूर हो जाते हैं। बावजूद इसके असल दोषियों के खिलाफ कभी भी हत्या का मुकदमा नहीं चलाया जाता।
साभार
सतीश सिंह
http://teznews.com/home/news/13881

CBI and ED join forces to nail chit-fund scammers who prey on innocent investors

After recording the statements of various high-profile individuals, the Enforcement Directorate is likely to file its first charge-sheet in the Saradha chit fund scam by July.

Besides filing a case under the PMLA in the scam, the ED has also attached assets worth Rs 140 crore belonging to individuals and firms on money laundering charges in this case.

Tackling economic offences has become the top priority of investigating agencies like the CBI and ED. The best investigators with skills to crack fraudulent schemes like the Saradha chit fund and the National Spot Exchange Limited case are on the job.

Following the Supreme Court directed the CBI to investigate the Saradha case, it has decided to set up a Special Investigation Team to probe the scam involving an estimated Rs 10,000 crore amassed by duping thousands of investors.

While Saradha is a classic example of a ponzi scheme following a multi-level marketing model, the NSEL scam has exposed the shortcomings in the regulatory framework as most of the commodities marketed by it never existed.

More than 15,000 private investors and some public sector undertakings were duped. There was also the Sahara case where market regulator SEBI alleged that the group cheated its investors.

The matter reached the SC and Subrata Roy, the chairman of the group, is in Tahir Jail for more than two months. Another scam which was being run like a ponzi and is being investigated by the CBI is the case involving the Pearls group, in which Rs 45,000 crore was swindled out and nearly 5 crore people were cheated.

The disturbing trend of such schemes directed at cheating investors shook the government, and more powers have been given to market regulator SEBI.

The Securities Laws (Amendment) ordinance covering the functioning of SEBI has been brought in to combat the menace of ponzi schemes.

The body has been given the power to regulate money pooling schemes worth Rs 100 crore or more - a common modus operandi for ponzi schemes.

The arrest of Jignesh Shah, Chairman and CEO of Financial Technologies in the Rs 5,600 crore National Spot Exchange Ltd (NSEL) scam on May 7, brings to the fore the gaping holes in India's regulatory framework for exchanges which encourage wily entrepreneurs to float companies that defraud unwitting customers.

It also calls for better regulatory oversight and according more teeth to the commodities regulator, the Forward Markets Commission (FMC).

At the heart of the NSEL fiasco was a practice at the exchange, where members were allowed to take long term forward contracts in commodities such as oilseeds, cereals and pulses, although the exchange was allowed to handle only spot contracts, similar to mandis where buyers and sellers exchange goods for money.

Taking advantage of a 2007 Ministry of Company Affairs (MCA) guideline that gave a conditional exemption to spot exchanges to offer one day forward contracts, NSEL conducted trading in forward contracts such as T+2 (trade plus two days) and T+25, where an investor, through their brokers such as Motilal Oswal Securities bought and sold goods, without any underlying securities.

They entered into contracts to buy commodities from "borrowers" such as N.K. Proteins and Mohan India. The T+2 contract enabled them to pay for the commodities two days later. At the same time, they entered into contracts with the same borrowers to sell the commodities after 25 days through a T+25 scheme. There would be an assured, annualised return of 13.5 per cent in this transaction.

"The process offered more liquidity than investing in bonds on fixed deposits, since the trader could avail the money at more frequent intervals," says Ketan Shah, one of the 13,000 investors who lost the money.

Investors were happy with their guaranteed returns until July, when the borrowers could no longer pay off the investors and government investigations revealed illegal and fraudulent trade. In July 2013, MCA stepped in, asking NSEL not to launch new contracts and settle the existing ones.

In October FMC wrote to NSEL, accusing its promoters and directors of complicity in cheating investors, a move that triggered the fall of the exchange and its promoter. FMC has all the while maintained that NSEL came outside its regulatory purview.

How the scam worked
But it did point out two of its reservations. First, NSEL permitted trading members to sell on their platform without confirming that they had goods in their possession, which amounted to a short sale.

Second, FMC disagreed with the contract duration of over 11 days in a spot exchange.

But the question here is, if the FMC felt it did not have the mandate to regulate NSEL, why didn't it seek explanations on the matter much earlier?

Investors say that timely action from the government would have saved many of them. They attribute the delayed action to Jignesh Shah's proximity to the who's who in the corridors of power. Other experts such as Jaimini Bhagwati, RBI Chair Professor at Icrier, says that the Sebi Act needs to be amended to include spot and futures trading in all commodities squarely and firmly within the capital market regulator's remit.

Also, the FMC should be absorbed within Sebi, he says. Meanwhile, the Forward Markets Regulation Bill, which seeks to amend the Forward Contracts (Regulation) Act, 1952, is awaiting Parliament's nod.

It will give more powers to the FMC, and open the door for introduction of new products like options and indices trading in the commodities futures market.

The NSEL scam calls for greater co-ordination among government departments, regulators and exchanges to plug regulatory loopholes, involving even brokerage firms. Meanwhile, the Economic Offences Wing of the Mumbai Police feels they have a water-tight case against him.

Investors want court to monitor CBI probe
By Soudhriti Bhabani in Kolkata
With the Supreme Court verdict asking the CBI to probe into the multi-crore Saradha chit fund scam, investors who had been cheated by the ponzi schemes now wanted a court-monitored CBI probe in the issue.

Chit fund Sufferers' Unity Forum (CSUF), an umbrella organisation protesting and safeguarding interests of the duped investors, demanded a court-monitored investigation in Saradha Group chit fund scam as it involved many high profile names, some of them from the state's ruling Trinamool Congress.

"We want the apex court to monitor the whole process of investigation. Also, we have decided to prepare a list of other chit fund companies that are operating across West Bengal. We will also include their volume of assets whatever information we can collect from our sources and will hand it over to the federal investigating agency," said Ashim Chatterjee, convenor of CSUF.

He said there are nearly 1,500 such shell companies are still operating in the rural outskirts of Bengal collecting small-saving deposits, mostly from the marginalised sections. He said that CSUF had already written to Chief Minister Mamata Banerjee highlighting the point and requested her to implement it for all the chit fund entities active across the state.

"The CM has turned our appeal in deaf ears. We sought an appointment to share our point of view with her on the matter but we were denied any time for the meeting," Chatterjee said.

The Sudipta Sen-led chit fund company Saradha Group had decamped with several thousands crores of small-savings deposits from investors by making false claims of their proposed ventures in an attempt to amass more money from the market.

It was revealed that the chit fund group had made false announcements to set up shopping malls at Madhyamgram in North 24 Parganas, Contai in East Midnapore and Bishnupur near Joka in South 24 Parganas and luxury apartments almost in every West Bengal district and a five-star hotel without mentioning any particular location and other details of the plot and proposed investments.
Courtesy:
By M.g. Arun
Published: 21:47 GMT, 11 May 2014 | Updated: 21:47 GMT, 11 May 2014
Follow us: @MailOnline on Twitter | DailyMail on Facebook
http://www.dailymail.co.uk/indiahome/indianews/article-2625739/CBI-ED-join-forces-nail-chit-fund-scammers-prey-innocent-investors.html

जेल में बंद पूर्व मंत्री सुरेश दादा जैन ने की जमानत की मांग

जलगांव आवासीय घोटाला मामले में गिरफ्तार महाराष्ट्र के पूर्व आवास मंत्री सुरेश दादा जैन (71) ने सेहत और दया की बुनियाद पर जमानत की मांग करते हुए बॉम्बे हाई कोर्ट में याचिका दायर की है।

कोर्ट के सूत्रों ने कहा कि यह याचिका सुनवाई के लिए सूचीबद्ध होगी। जैन ने अपनी याचिका में गुहार लगाई है कि वह 27 महीनों से जेल में बंद हैं, इस दौरान उनकी बाइपास सर्जरी हुई। उन्होंने कहा कि उनकी सेहत काफी खराब हो गई है और मधुमेह तथा अधिक उम्र होने के कारण कई दूसरी जटिलता पैदा हो गई हैं।

वह करीब तीन दशकों से अधिक समय तक विधानसभा के सदस्य रहे हैं और फिलहाल शिवसेना के विधायक हैं। जैन ने कहा कि वह बड़ी राजनीतिक साजिश तथा अपने विरोधियों की ओर से की गई बदले की कार्रवाई के शिकार हुए हैं। उन्होंने आरोप लगाया कि जलगांव आवासीय घोटाले में उन्हें फंसाया गया है।

जैन को 11 मार्च, 2012 को गिरफ्तार किया गया था। उन्होंने कहा कि इस मामले में आरोप पत्र पहले ही दाखिल हो चुका है और जांच चल रही है। सुनवाई अदालत ने आरोप तय कर दिए। उन्होंने सुप्रीम कोर्ट के दिशानिर्देश का हवाला दिया, जिसके मुताबिक भ्रष्टाचार निरोधक कानून के तहत नौकरशाहों (विधायक एवं मंत्रियों) के खिलाफ मामला एक साल के भीतर पूरा होना चाहिए।
साभार
Jul 7, 2014, 08.30AM IST, भाषा, मुंबई
http://navbharattimes.indiatimes.com/metro/mumbai/other-news/Jailed-former-minister-Suresh-Dada-Jain-seeking-bail/articleshow/37918002.cms

मुंबई में रिक्शा-टैक्सी चालकों की ठगी - टर्मिनल टू में प्रवेश के लिए अवैध एंट्री फीस!

मुंबई के नवनिर्मित इंटरनैशनल टर्मिनल से कार्य संचालन को लगभग 4 महीने पूरे हो चुके हैं। इसके बावजूद भी हवाई यात्रियों में टर्मिनल पर पहुंचने को लेकर कई संशय बरकरार हैं। इसका सीधा फायदा इस मार्ग पर ऑटो-टैक्सी चलाने वालों को मिल रहा है। अधिक पैसा बनाने के चक्कर में इन्होंने टर्मिनल एंट्री फीस का एक नया शिगूफा छोड़ा है। मीटर से भाड़ा वसूल करने का आश्वासन देने के बाद ऑटो चालक यात्रियों को टर्मिनल पर लाते हैं और डिपार्चर लेवल पर जाने के लिए अलग से पैसों की मांग करते हैं। बीते 3 महीनों से कई हवाई यात्री इस बाबत एनबीटी को अवगत करवा चुके हैं।

गौरतलब है कि यह टर्मिनल 4 लेवल में बंटा हुआ हैं, यात्रियों को डिपार्चर के लिए सीधे लेवल 4 पर आना होता है, जिस पर आप सहार एलिवेटेड रोड से होकर आ सकते हैं, लेकिन यदि आप ऑटो रिक्शा से सफर कर रहे हैं, तो आपको सहार रोड से आना होगा।

यहां आने के बाद ऑटो चालक यात्रियों से 50 से 100 रुपये तक अतिरिक्त मांगते हैं, और टर्मिनल की एंट्री फीस का हवाला देते हैं। उनका कहना है कि उनसे यह चार्ज एयरपोर्ट अथॉरिटी ले रही है, इसके पीछे एयरपोर्ट अथॉरिटी का उद्देश्य अवांछित तत्वों के प्रवेश को रोकना हैं। जबकि वास्तविकता यह है कि एयरपोर्ट अथॉरिटी एंट्री फीस के नाम पर कुछ भी चार्ज नहीं करती।

सूत्रों के मुताबिक यात्रियों से यह चार्ज उन्हें अराइवल या डिपार्चर लेवल पर ले जाने के लिए ही लिया जाता है। टर्मिनल से कुछ दूर बने पार्किंग पर रुकने की स्थिति में ऑटो चालक चार्ज नहीं करते। यात्रियों के मुताबिक भारी बैगेज होने के कारण वे झंझट से बचने के लिए 'कुछ' पैसा दे देना ही बेहतर समझते हैं।

बीती एक तारीख को मुझे रात नौ के आस पास अपनी मां को लेने एयरपोर्ट जाना था। अंधेरी से तो ऑटो वाला मीटर से चलने को तैयार था पर आधे रास्ते में उसने मुझसे 120 रुपये की मांग की। वजह पूछने पर उसने एयरपोर्ट एंट्री फीस का हवाला दिया, जब मैंने विरोध किया तो उसने मुझे वही उतारने की धमकी दी।
- निशा सराफ, स्टूडेंट

जून के थर्ड वीक में मैंने अंधेरी से ऑटो लिया, चालक में मुझसे उतरते वक़्त 50 रुपये एक्स्ट्रा मांगे, लेकिन क्योंकि मैं हर दूसरे सप्ताह विदेश जाता रहता हूं, मुझे उसकी चालाकी समझ आ गई और मैंने उसे पुलिस की धमकी दे कर अपना पीछा छुड़ाया।
- अमित झवेरी, व्यवसायी

हमारी तरफ से ऐसा कोई चार्ज नहीं लिया जाता हैं। यदि ऐसा हो रहा है तो बहुत दुर्भाग्यपूर्ण हैं। यात्रियों को आरटीओ और ट्रैफिक पुलिस को इसकी शिकायत करनी चाहिए। ऑटो चालक यात्रियों को बेवजह ठग रहे हैं।
- प्रवक्ता, मुंबई एयरपोर्ट अथॉरिटी

इस तरह का कोई भी चार्ज नहीं है। यदि कोई ऑटो चालक ऐसा कर रहा है, तो बिलकुल गलत है। यात्रियों को इसकी शिकायत करनी चाहिए। उस ऑटो चालक का बैच नंबर और वाहन का नंबर नोट करके शिकायत दर्ज करवानी चाहिए। एनबीटी ने हमें इस बाबत जानकारी दी है और हम अपने स्तर पर भी दोषियों की तलाश करेंगे।
- शशांक राव, उपाध्यक्ष ( मुंबई ऑटोरिक्शा मेंस यूनियन )
साभार
नवभारत टाइम्स | Jul 7, 2014, 03.42AM IST, आशिता दाधीच, मुंबई
http://navbharattimes.indiatimes.com/metro/mumbai/other-news/The-entry-fee-to-enter-the-terminal/articleshow/37918213.cms

Red alert! Redevelopment Greed is making societies neglect maintenance & repair

2 July 2014, Mumbai: The return of monsoons is good news to everybody, but as always, there will be severe casualties in aging and ill-maintained buildings in every metro, including Mumbai. One may safely predict that at least five buildings will collapse in Mumbai alone, especially on the days with the heaviest rains, simply because of the additional weight of several thousand kilograms of absorbed rainwater that the dilapidated structures will have to bear. This weight is unevenly distributed on a weakened RCC structure, causing structural collapse.

The following problems are perennial and systemic:
1)      The buildings of Mumbai and every other metro are aging. Every passing seasonal cycle of summer, monsoon and winter are causing further deterioration in the cement and steel of RCC structures by rusting and cracking. Therefore, every passing year, the load-bearing capacity of the RCC of every building deteriorates by small percentage like 0.2 to 1%.

2)      Older buildings deteriorate at a faster rate e.g. 1% per year. If they are well-maintained, this rate of deterioration may be reduced to 0.5%, effectively increasing its life span by many years.

3)      Unfortunately, many buildings have been made into “sick” buildings over the past decade by short-sighted cooperative societies neglecting them, in the lust for getting them declared as “dilapidated”, so that they go into commercial redevelopment. The load bearing capacity of the RCC of such buildings deteriorates by 5-10%. These buildings are like ticking time-bombs, waiting to collapse.

4)      In the monsoon, the rain-water seeps into the walls and ceilings of such neglected structures, increasing their weight by several thousand kilograms. This additional weight is distributed unevenly on the RCC frame, making it extremely vulnerable to sudden structural failure. These buildings cannot continue to be occupied. Ignoring them is a criminal negligence on the part of the government and municipal corporations.

5)      There is no civic body which has the necessary mandate for vacating and demolishing demolish hundreds or thousands of such critical buildings before they collapse due to “natural causes” in the coming monsoons. If such a body is not created, there is simply no alternative to redevelopment – whether voluntary or foced. These must be demolished and rebuilt under supervision of an empowered government body. Unfortunately, such an empowered body does not exist!

6)      A timetable for performing emergency repairs on thousands of other buildings is a must. These are not yet critical, they will inevitably become critical and dangerous if neglected for another 3-4 years. This must also be done under supervision of an empowered government body.

7)      Unfortunately, it is financially unviable for all the thousands of buildings of Mumbai to be redeveloped and rebuilt simultaneously. Therefore, a priority list will have to be made by the government agency after scrutiny.

8)      Many MLAs, MPs and corporators are builders, or have invested in building industry. These persons are aware of the deterioration, but they are using their knowledge for their own private benefit. The knowledge of these persons must be harnessed for public good. Unfortunately, such politicians are actively preventing any proactive planning from happening, for fear of harming their own interests!

9)      On a conservative estimate, more than 80,000 flats are lying vacant all over Mumbai. They belong to builders, estate agents and investors. Such flats should be requisitioned by the government and municipal corporations, and used for immediately resettling the people living in dangerous buildings.

10)   For all the above-mentioned work, which is urgent, new laws needs to be passed, and a new government agency is required to be constituted under the urban development ministry.

Problems Caused by Redevelopment Greed:
Since redevelopment started in 1991 about two decades ago, and builders could augment the FSI (Floor Space Index) of the land by purchasing TDR (Transfer of Development Rights), cooperative housing societies started neglecting their structures. Seduced by builders who promise larger houses and new buildings, building societies have been keen to steamroll opposition to their redevelopment proposals by individual members by deliberately allowing their building to deteriorate, so that structural auditors can declare them as “dilapidated”.

Earlier, it was a nightmare for a society to be told that its building was structurally unsound, and managing committee members and general body members alike were anxious to avoid it by regular re-plastering, painting and repairing. But in the last two decades, a report from structural engineers saying that the building is “dilapidated” or is in need of “major repairs” has been the dream-come-true of every managing committee, because it legitimizes their quest for redevelopment.

Redevelopment is a gravy-train by which everybody gets to make money, and especially civic authorities who give various building permissions, cooperative department officials, and the managing committees of societies. Many residential buildings aged around 30 and above would have been in a relatively better state, were it not for this lust for redevelopment. Despite a fair number of stalled redevelopment projects, and the opposition by cautious members in every society, the greed-is-good ethos of the majority of members in almost every society ensures that this gravy train is gaining momentum.

Brief overview of Mumbai’s redevelopment over the last two decades: http://tinyurl.com/History-Mumbai-Redevelopment

Over 10 percent of Mumbai’s 30,000-odd society buildings are currently suffering from varying degrees of redevelopment-driven neglect by their managing committees, which collect money for their Repair Fund and Sinking Fund every month, but never spend for repairs and maintenance, Hoping to reap windfall gains from redevelopment, the managing committees favour a dilapidated appearance, which sends a come-hither signal to builders.

Sadly, every such society will not enter into the process of redevelopment swiftly; the overwhelming majority of old buildings will have to wait for many years before their redevelopment happens. Hence, residents are condemned by their greedy and negligent managing committees to live for long in buildings with fast-deteriorating RCC columns, beams and slabs.

In every society, one or two people are fighting a losing battle against this commercially-driven madness. They are seeking better maintenance of their societies.  Most often, their voices are raised only at meetings, and this makes them pariahs. Far from recognizing that their words are in the common interest, a majority of their neighbours consider them mad, and shun them. Their managing committees are quick to paint them as anti-social villains opposed to the prosperity that will be brought about by redevelopment.

One such person is Rohit D’Souza (9819199863, rohitpdsouza@gmail.com), a young sportsman of Mulund. Due to the constant leakage and seepage from the rooftop tank, and the consequent rusting and deterioration of the building structure, Rohit and his neighbours fear for their lives, and have written many letters to their building secretary and to to MCGM’s Ward Officer for T-Ward.  But their letters may as well have been written by residents of thousands of other residents of Mumbai, who are in the same boat: http://tinyurl.com/Please-repair-tank

Numerous societies are in exactly the same boat. Improper structural maintenance by societies due to greed, cost cutting, ignorance, unavailability of skilled labourers, disputes between members etc. is endangering the lives of thousands of families living in Mumbai. The steel in the RCC columns, beams and slabs has rusted and become exposed in many buildings, and Rohit’s building is only a sample of what thousands of buildings are currently looking like. Like Rohit, lakhs of people in Mumbai region are saying, “We are not opposed to redevelopment per se, but we are definitely opposed to the deliberate neglect of our buildings, which is a growing threat to our lives.”

But are the government and municipal authorities listening? And more importantly, are the managing committee members listening?

Or will they, like the Municipal Corporations of Mumbai, Mumbra, Thane etc. wake up only after the building crashes down?
Courtesy:
Issued in Public Interest by
Krish
9821588114
Building.RTI.Union@gmail.com

PS: After reading this, if residents of societies wish to gently start reminding their societies to maintain the building, they may use this word file as a format: http://tinyurl.com/sample-letter-to-society

THE MEGA Rs 23,000 crore 4G SCAM BY the GOVERNMENT AND RELIANCE

AAP alleged another scam
After the 2G spectrum allocation scam during the former UPA government, another major telecom scandal in the allocation of 4G spectrum (Broadband and Wireless Access - BWA) ) has now been exposed in its latest report submitted by the Comptroller & Auditor General (CAG) to the central government.

According to the information available so far, this scam has caused a loss of around Rs 23,000 crore to the public exchequer in the initial estimates and this amount will definitely go up in case a thorough and impartial probe is ordered by the Narendra Modi government.

The Aam Aadmi Party demands that the BJP-led NDA's central  government should  immediately cancel the telecom license and allotment of 4G spectrum given to Reliance Industries and also order a CBI probe for a through criminal investigation into this scam involving Reliance Industries and the UPA government.

If the NDA government delays tabling of the CAG report on the 4G spectrum & BWA allocation scam and does not cancel its allotment, it will become clear that this government also is favouring corporates and allowing them to loot national resources.

The details of this scam are as follows:
The UPA government in March 2013 allowed a back-door entry of Reliance Jio Infocomm into voice telephony in violation of the judgment of the Supreme Court in the 2G case. This was done at the price discovered in 2001 of Rs 1,658 crore for a pan-India licence, which is the same price that was struck down by the Supreme Court in its 2G judgment, because that had caused a huge loss to the public exchequer.

During May-June 2010 the auctions for 3G and 4G were concluded. The 3G auction fetched Rs 16,750.58 crore for 5+5 MHz spectrum in 2100 MHz (or 2.1 GHz) band. Thus, per MHz, the price worked out to be Rs 1,675 crore. Immediately, after the 3G auction, the 4G auction began which fetched Rs 12,847.77 crore for 20 MHz pan-India license in the 2300 MHz (or 2.3 GHz) band. This works out to be Rs 642.39 crore per MHz.

This was so because all documents stated that 4G spectrum was for data services only, whereas 3G spectrum can be used for both data and voice telephony. (All relevant documents - including the CAG report, Reliance Jio Infocomm reply and Department of Telecom response are attached with this press release).

Infotel Broadband Services Pvt Ltd (IBSPL) emerged as the only company to have acquired pan-India 4G spectrum. IBSPL had an internet license since November 2007 and had just one subscriber with revenue of Rs 16.28 lakhs during 2009-10, and its authorized share capital was Rs three crore and the paid up capital was Rs 2.51 crore. Infotel Digicomm Pvt Ltd (IDPL) held 99.99% share of the IBSPL at the time of submission of application in March 2010.

Within hours of completion of 4G auction on 11.06.2010, IBSPL increased the authorised share capital from Rs three crore to Rs 6,000 crore. On 17.06.2010, the company authorized its Board of Directors to allot Rs 475 crore equity share of Rs 10 each to Reliance Industries Ltd (RIL) and 25 crore equity share of Rs 10 to Infotech Digicomm Pvt Ltd (IDPL) aggregating to the equity capital of Rs 5,000 crore. On the same day, the company also decided to change from a private company to Public Limited Company (Infotel Broadband Services Ltd). Thus, the company within a week of winning the 4G spectrum disposed off 95% shares to RIL while 5% was retained by IDPL. Much later in March 2013, the company was renamed as Reliance Jio Infocomm Pvt Ltd.

CAG has found that the Government did not protect its interest at the time of framing eligibility criteria for the 4G auction. It allowed participation of internet (ISP) licensees without ensuring adequate safeguards in terms of net-worth of the companies participating in the auction. It found that while a UAS licensee or even a new company without a license was allowed to participate in the 4G auction, but
they had to pass through the test of net-worth in order to become eligible, but no such criteria was specified for the existing internet (ISP) licensees participating in 4G auction. CAG observed that this criterion was important even for ISP-A licensees as they had to participate in the bidding where the reserve price was fixed at Rs 1,750 crore per pan-India license for 20 MHz spectrum in 2.3 GHz band.

The only company which won the pan-India 4G license, was an ISP-A licensee, Infotel Broadband Services Pvt Ltd (IBSPL), a HFCL promoted group company. CAG has stated that IBSPL was given the ISP-A license in November 2007, and it had just one leased-line subscribers as on December 2009 and total revenue of just Rs 16.28 lakh for FY 2009-10. The paid-up capital was just Rs 2.51 crore and 99.99 per cent of it was held by Infotel Digicom Pvt Ltd at the time of submission of application for the 4G auction in March 2010. Thus, this company could not be termed as a serious player. And there were no checks in-built in the auction process to eliminate such non-serious players, CAG has observed.

After the company was taken over Reliance Industries, the government allowed it to provide voice telephony (which was earlier prohibited) without conducting a fresh auction. This was done at the rate of Rs 1,658 crore which was fixed in 2001, and had been struck down by the Supreme Court in the 2G case for causing huge loss to public exchequer. The CAG has now concluded that besides vitiating the auction process, an undue advantage of Rs 22,842 crore was given to RIL at the cost of exchequer. The relevant part of the CAG’s report is reproduced below: -

It was found that the basis of the decision i.e. payment of entry fee of Rs 1,658 crore by ISP licensee for a permission to Pan India provision of mobile voice services using BWA spectrum considered by the DoT Committee, Telecom Commission and the MOC&IT, was primarily intended to fill the gap between the eligibility criterion stipulated for participation in the 3G / BWA auction in 2010 as UAS / CMTS licensees had paid entry fee of Rs 1,658 crore while ISP licensees had paid only Rs 30 lakh.

The DoT Committee, Telecom Commission and the Ministry of communication &IT  however ignored the fact that the quantum of entry fee i.e. Rs 1,658 crore was basically discovered in 2001 through the bidding for the 4th Cellular licenses. Market conditions since then have changed drastically, and this price needed to be modified to reflect the present value.

Neither the DoT Committee / TC under the Chairmanship of the Secretary DoT nor the ministry felt the need for revision of the price discovered in 2001 as the entry fee for UASL in 2013, even when the Hon’ble Supreme Court of India had cancelled 122 licenses granted in 2008 on the basis of the same entry fee stating that it was impossible for them to approve the action of the DoT.

Therefore, by permitting ISPs to provide mobile voice service using BWA spectrum won in 2010 auction post-auction, the government has brought ISP licensees with BWA spectrum at par with UAS / CMTS 3G spectrum winners so far as provision of services are concerned – Voice, Data, etc., and post auction interpretation of such vital nature would appear to be arbitrary, inconsistent and not appropriate.

Hence, IBSPL, now Reliance JioInfocomm, appeared to have been accorded undue advantage of Rs 22,842 crore i.e. the difference of the proportionate prices for 20 MHz block size in 2.1 GHz spectrum band (3G spectrum) and 2.3 GHz spectrum band (BWA spectrum) plus the Net Present Value of the entry fee for UASL at the end of FY 2009-10 (Rs 20,653 crore plus Rs 3,847 crore - Rs 1,658 crore). Besides, the sanctity of the entire auction process has been rendered vitiated due to post auction interpretations and interventions after three years. It was therefore no surprise that Reliance JioInfocomm was among the first group of companies which applied for UL immediately after introduction of the scheme and obtained the Letter of Intent (LoI).

Had the spectrum blocks been specified and declared as liberalised spectrum blocks i.e. open for all technology / services in the NIA in February 2010, there was no doubt that bidders would have taken informed decision for putting up their bid and the market discovered price would have been significantly different for 3G and BWA spectrum.

AAP leader and senior lawyer Prashant Bhushan has filed a PIL in the Supreme Court seeking cancellation of Reliance Industries’ telecom license and a through criminal investigation. Supreme Court had issued notice to the government and Reliance on that petition on 9th May 2014.
Courtesy:
Sent By AAP on Mails Dated 01.07.2014

SEBI vs Sahara: Fali S. Nariman appointed as Amicus Curiae

Court
Supreme Court of India

Brief

The Supreme Court bench comprising of Justices T.S. Thakur and A.K. Sikri dismissed the prayer for shifting the contemnors to a guest house for continued custody and detention till they comply with the directions of this Court for their release on interim bail and requested Senior Advocate, Fali.S. Nariman to assist the Court as amicus curiae

Citation

Judgement
              
REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL ORIGINAL JURISDICTION
I.A. NOs. 101-103
IN
CONTEMPT PETITIONS (C) NO.412 - 413 OF 2012
IN
CIVIL APPEALS NO. 9813 AND 9833 OF 2011
AND
CONTEMPT PETITION (C) NO.260 OF 2013
IN
CIVIL APPEAL NO.8643 OF 2012

S.E.B.I.   …Appellant
Versus
Sahara India Real Estate Corporation Ltd.
 & Ors. …Respondents
T.S. Thakur, J.

J U D G M E N T
1. Sahara  India  Real  Estate  Corporation  Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL) (hereinafter referred to as ‘Saharas’ for short) invited and  claim to  have  collected  deposits  from  general  public including  cobblers,  labourers,  artisans  and  peasants  in  the form of  what  were  described  as  ‘Optional  Fully  Convertible Debentures’  (OFCD).  On  a  complaint  received  from Professional Group of Investors Protection, SEBI found that the mobilisation of funds under the Red Herring Prospectus (RHP) dated 13th March,  2008 and 6th October, 2009 issued by the two companies was not legally permissible.  By an  ad interim ex parte order  dated  24 th November,  2010  SEBI  directed Saharas not to offer their equity shares/OFCDS or any other securities to the public or invite subscription in any manner whatsoever either directly or indirectly pending further orders. Aggrieved  by  the  said  order  Saharas  approached  the  High Court  at  Bombay  but  the  High  Court  not  only  declined  to interfere with the directions issued by SEBI but also passed a further order on 23rd June,  2011, directing the promoter Mr. Subrata Roy Sahara and Directors Miss Vandana Bhargava, Mr. Ravi Shankar Dubey and Mr. Ashok Roy Choudhary of Saharas to jointly and severely refund the amount collected by Saharas in terms of the RHPs issued by them alongwith interest @ 15% p.a. from the date of the receipt of the deposits till the date of such repayment.  Pursuant thereto the SEBI ordered that the refund of  the  amount  shall  be  made  only  in  cash  through demand  drafts  or  pay  orders.  The  SEBI  issued  further directions  including  a  direction  that  Sahara  Commodity Services Corporation Limited (earlier  known as SIRECL)  and SHICL shall not access the security market for raising funds till the  time  the  aforesaid  payments  are  not  made  to  the satisfaction of the SEBI. 

2. Aggrieved by the order aforementioned, Saharas filed an appeal before the Securities Appellate Tribunal (SAT) who concurred with the view taken by the SEBI, and while affirming the order passed by the SEBI, directed Saharas to refund the amount  collected  from the  investors  within  a  period  of  six weeks.

3. Appeals  No.9813  and  9833  of  2011  were  then preferred by Saharas against the above orders in which this Court  by an order  dated 28 period for making the refund upto 9th November, 2011 extended the th January, 2012 but finally disposed of the appeals by an order dated 31st August, 2012. This Court  while doing so modified the order  passed by the SEBI and the SAT and directed Saharas to deposit  with the SEBI  the  amount  collected  by  them  through  their  RHPs together  with interest  @ 15% p.a.  within a period of  three months.   The  amount  when  deposited  was  directed  to  be invested in a nationalised bank to earn interest. Saharas were also directed to furnish details with supporting documents to establish  whether  they  had  refunded  any  amount  to  the investors who had subscribed through the RHPs in question. SEBI was then to examine the correctness of the details so furnished.   Failure  to  prove  the  refund  of  the  amount  by Saharas had to give rise to an inference that Saharas had not refunded the amount to the real and genuine subscribers as directed by the SEBI. 

4. It  is common ground that  directions  issued by this Court by its order dated 31st August, 2012 were not complied with. Instead Appeal No.221 of 2012 was preferred by Saharas before  the SAT  which  was  dismissed  by  the  Tribunal  as premature. This dismissal was assailed by the Saharas in C.A. No.  8643  of  2012  that  came  to  be  disposed  of  by  a three-Judge  Bench  of  this  Court  by  an  order  dated  5th December, 2012 with the following among other directions:

“(I)  The  appellants  shall  immediately  hand over  the Demand Drafts, which they have produced in Court, to SEBI, for a total sum of  5120/-Crores and deposit the balance in  terms of  the order  of  31st  August,  2012, namely,  17,400/-  Crores  and the  entire  amount,  including the amount mentioned above, together with interest at  the  rate  of  15 per  cent,  per  annum,  with SEBI,  in  two  installments.  The  first  installment  of 10,000/-Crores, shall be deposited with SEBI within the first  week of  January,  2013.  The remaining  balance, along  with  the  interest,  as  calculated,  shall  be  deposited within the first  week of  February,  2013.  The time  for  filing  documents  in  support  of  the  refunds made to any person, as claimed by the appellants, is extended by a period of 15 days. On receipt of the said documents,  SEBI  shall  implement  the directions contained in the order passed on 31st  August,  2012.  In default  of  deposit  of  the  said  documents  within  the stipulated period, or in the event of default of deposit of  either  of  the two installments,  the directions contained in  paragraph 10 of  the aforesaid  order  dated 31st August, 2012, shall immediately come into effect and SEBI will be entitled to take all legal remedies, including attachment and sale of properties, freezing of bank accounts etc. for realisation of the balance dues.”

5. Pursuant to the above,  Saharas deposited Rs.5120/- crores with the SEBI but failed to pay the remaining amount. The balance amount  payable is in the vicinity of Rs.12280/- crores, exclusive of interest payable on the same. SEBI then filed  Contempt  Petitions  No.412  and  413  of  2012  and, Contempt Petition No.260 of 2013 against the contemnors for non-compliance of the directions of this Court. Various orders have been passed in these contempt  petitions from time to time, and those which are germane for our purpose, shall be adverted  to  hereinafter  at  the  appropriate  stage.   The applications (IAs) which we are dealing with in this order, are filed in these contempt petitions and arise out of the earlier orders passed.

6. It is pertinent to point out at this stage that in the course  of  the  proceedings  in  the  above  contempt  petitions some proposals appear to have been explored by the parties for compliance with the directions of this Court  but  all  such proposal were found to be unsatisfactory eventually leading to the  issue of  non-bailable  warrants  against  Mr. Subrata  Roy Sahara  for  his  production  before  this  Court.  Three  other Directors  of  Saharas  were  also  ordered  to  remain  present before this Court.

7. On 4th March,  2014 when the contemnors appeared before this Court one of them in custody, this Court recorded a finding that  the directions  issued by the Court  by its  order dated 31st August,  2012 and issued on 25th December, 2012 and those February, 2013 in CA No.8643 of 2012 and IA No.67 of 2013 had not been complied with, despite sufficient opportunities to the contemnors to do so. It was also held that contemnors  had  adopted  dilatory  tactics  to  delay  the proceedings before the SEBI, the High Court and even before this Court.  It was further found that no acceptable proposal was  presented  to  comply  with  the  directions  of  this  Court which left no option for this Court except to commit three out of the four contemnors to judicial custody.  The contemnors are,  ever  since the said order, in judicial  custody in Delhi’s Tihar Jail. 

8. It is clear from the above narration that as per the orders passed, a huge amount of nearly Rs.33,000/- crores is yet  to  be  deposited.  It  is  also  apparent  that  deadlines  for depositing  this  amount  are  long  over.  No  doubt  various proposals have been given by Saharas for making payments but  none  has  fructified.  From  the  tenor  of  orders  passed earlier, it  can easily be gauged that these proposals did not inspire confidence.   In this backdrop when the matter  again came on 26th March,  2014,  and the contemnors insisted on granting bail  to them,  this Court  passed a conditional  Order granting interim bail  to the contemnors; the condition being that  they deposit  Rs.10,000/-  crores.  Out  of  this  a sum of Rs.5,000/- crores had to be deposited in cash before this Court while  the  balance  amount  of  Rs.5000/-  crores  had  to  be secured by a bank guarantee of a nationalised bank, furnished in favour of the SEBI. Upon compliance with those conditions the contemnors were directed to be released from the custody and the amount deposited by them to be transferred to the SEBI. Since we are directly concerned with this order, we may, as well, extract the same:

“We  have  gone  through  the  fresh  proposal  filed  on 25.3.2014. Through the same is not in compliance with our Order dated 31.8.2012 or the Order passed by the three-Judge Bench of this Court on 5.12.2012 in Civil Appeal No.8643 of 2012 and on 25.2.2013 in I.A. No. 67 of 2013 in Civil  Appeal No.9813 of  2011 with I.A. No.5 of 2013 in Civil Appeal No.9833 of 2011, we are inclined to grant interim bail  to the contemnors who are detained by virtue of our order dated 4.3.2014, on the  condition  taht  they  would  pay  the  amount  of Rs.10,000 crores – out of which Rs.5,000 crores to be deposited before this Court and for the balance a Bank Guarantee of a nationalised bank be furnished in favour of S.E.B.I. and be deposited before this Court. On  compliance,  the  contemnors  be  released forthwith  and  the  amount  deposited  be  released  to S.E.B.I. We  make  it  clear  that  this  order  is  passed  in order to facilitate the contemnors to further raise the balance  amount  so  as  to  comply  with  the  Court’s Orders mentioned above.”

9. Instead of  complying with the above directions  Mr. Subrata Roy Sahara filed Writ Petition (Crl.) No.  57 of 2014 challenging the validity of  the order  of  this Court  dated 4
March,  2014  on  the  ground  that  the  same  was  void  and non-est  in the eyes  of  law.  A declaration to the effect  that continued  incarceration  of  the  petitioner  Mr.  Subrata  Roy Sahara in custody was illegal and a writ of habeas corpus and directions for release of the petitioner from custody were also prayed  for.  The  said  writ  petition  was  heard  by  a  Bench comprising Hon’ble K.S.  Radhakrishnan and J.S.  Khehar, J.J. and came to be dismissed vide detailed judgment  dated 6 May, 2014.

10. Having traversed in brief, the otherwise long journey of this case, we revert back to the IAs which are the subject matter of the instant order.  In the present I.As. No.101-103 of 2014 filed in Contempt Petitions (C) No.412 and 413 of 2012 and Contempt Petitions (C) No. 260 of 2013, the contemnors have made the following prayers:

“(a) Lift the restrictions imposed by this Hon’ble Court vide its order dated 21.11.2013 and SEBI’s order dated 13.2.2013,  in  respect  of  operation of  the Bank  Accounts/deposits/demat  accounts/sale  of securities mentioned at Annexure-A;

(b) Lift the restrictions imposed by this Hon’ble Court vide its order dated 21.11.2013 and SEBI’s order dated 13.02.2013 in respect of the movable and immovable properties mentioned in Annexure B, 9th on condition that  net  proceeds  (after  costs  and taxes) thereof be utilized exclusively for payment ordered by this Hon’ble Court.

(c) pass such further  or other order as this Hon’ble Court may deem fit  and proper in the facts and circumstances of the present case.”

11. Justice  K.S.  Radhakrishnan  having  demitted  office and,  Justice  J.S.  Khehar  having  recused  himself  from  the further hearing of the case, the applications were listed before us for urgent hearing on 19th May, 2014 when the same were heard in part and directed to come up for continuation on 29 May, 2014. 

12. Appearing  for  the  contemnors,  Dr.  Rajiv  Dhawan made a three-fold submission before us.  Firstly, he contended that  the  order  passed  by  this  Court  on  26 th March,  2014 granting interim bail subject to the conditions stipulated in the said order deserved to be modified as the conditions stipulated therein were not only onerous but incapable of being complied with in the facts and circumstances of the case.  Alternatively, he contended that compliance with the conditions stipulated by this Court  would require sale of several  items of immovable properties held by Sahara Group of companies which sales can be finalised only if the contemnors were enlarged from custody with a view to enable them to negotiate the sale transactions. He submitted that keeping in view the extent and nature of the properties which shall have to be sold as also the amounts that have  been  ordered  to  be  deposited  compliance  with  the conditions stipulated by this Court is extremely difficult, if not impossible, unless the contemnors are enlarged from jail and allowed to take steps necessary for compliance.  It was further contended by Dr. Dhawan that the restraint orders against the sale of the moveable and immoveable properties held by the ‘Saharas’  made it impossible for them to arrange compliance unless the embargo placed upon such sale and transfer by this Court’s Order dated 21 SEBI on 13th November, 2013 and that passed by  February, 2013 are lifted.  He argued that even if the contemnors were not enlarged on bail  till  such time the directions issued by this Court on 26th March, 2014 were not complied  with,  the  restraint  orders  would  prevent  the contemnors from raising necessary funds to comply with the directions issued by this Court. He urged that the total amount currently lying in several  bank accounts and/or invested with banks and companies in the form of FDs, Bonds and securities etc.  came  to  Rs.2500/-  crores  approximately.   The  broad details  of  the  amounts  so  available  have  been  given  by Saharas in the note submitted by Dr. Dhawan as under:

Details of approx. Rs 2500 Crores along with interest accrued  thereon  to  be  paid  by  Saharas  within  5 working days of lifting the embargo (Pg 39 – 54)

a) Fixed Deposits                     1688.74 crores
b) Savings Account                    464.44 crores      
c) Current Account                      18.45 crores
a) Securities & Bonds                 142.86 crores
b) Government Bonds                  72.33 crores
c) Bank/PSU Bond                       34.85 crores
-------------------
2421.67 crores
-------------------

Total approx. Rs 2500 crores along with interest accrued thereon

13. Encashment  of  the  FDs,  sale  and  transfer  of  the bonds  and  securities  would,  argued  Dr.  Dhawan,  help  the contemnors  to  partly  comply  with  the  directions  regarding deposit  of  Rs.5000/-  crores  by moping Rs.2500/-  crores.  A further sum of Rs.2500/- crores approximately would have to be raised for deposit which will be possible only by sale of the immovable properties situated in nine different  cities details whereof were filed by Dr. Dhawan in the form of a statement with the estimated value of such properties which is as under:

Sr. No. Properties Valuation as per Page Nos. Of the Valuation Report (Rs. In crores) Volume I
1. Pune 575 60 – 76 @ 73
2. Ahmedabad 470 81 -98 @ 94
3. Amritsar 153.75 99 – 127 @ 111
4. Chauma 1430 128 -148 @ 140
5. Vasai 1169.72 143 – 160 @ 149
6. Ajmer 160 161 -175 @ 167
7. Bhavnagar 103 176 – 191 @ 188
8. Jodhpur 112 192 -208 @ 204
9. Bhopal 125 209 – 224  222
TOTAL 4298.47

14. It  was  submitted  that  sale  of  the  above  items  of property may also not fully satisfy the conditions stipulated by this Court for grant of interim bail thereby leave no option for Saharas except  to sell  three other  items of hotel  properties situated outside the country. One of these hotels by the name Grosvenor House is situated in London while the remaining two hotels are in New York (U.S.A.).  It was urged that the said three  items  of  property  also  need  to  be  sold  to  raise  the margin  money  which  the  banks  concerned  insist  upon  to enable them to issue a bank guarantee. It was submitted that while  the  contemnors  propose  to  mortgage  Aamby  Valley properties,  details  whereof  are given in the Annexure B to I.As.  No.101-103,  the  contemnors  would  require  funds  to service any financial arrangement made with the bank/banks. It was also contended that according to the estimate of the contemnors, the properties situated in London and New York would fetch an amount of Rs.5,000/- crores to the contemnors which may be utilised in full  or  in part  towards the margin money  necessary  for  obtaining  the  bank  guarantee(s).  The estimated value of these three properties is indicated by the contemnors as under :

Shares of entities owning the following offshore properties
Grosvenor House,
London Plaza Hotel,
New York
Dreams
Downtown
Hotel, New
York
Value as per
the Valuation
report
GBP 516,000,000
Rs
50,929,200,000
USD
592,000,000
Rs
34,336,000,000
USD
252,000,000
Rs
14,616,000,000
Expected Sales
Value
GBP 645,000,000
Rs 63,661,500,000
USD 635,000,000
Rs 36,830,000,000
USD 252,000,000
Rs 14,616,000,000
Total Rs
115,107,500,000
Immediate
Advances
expected
USD 50,000,000
Rs 2,900,000,000
USD 50,000,000
Rs 2,900,000,000
USD 50,000,000
Rs 2,900,000,000
USD
150,000,000
Rs
8,700,000,000
Page No.
667-Vol  III
415-Vol III
231-Vol III
Net
Realistic
Equity
Value to
Sahara in
India
Rs 50,366,156,000

15. On behalf  of the respondent-SEBI it  was argued by Mr. Venugopal that he has no objection to the encashment of the FD receipts and other securities and bonds etc. provided the  maturity  value  and  sale  consideration  of  such  FDRs, securities  and  bonds  is  directed  to  be  deposited  in  the designated  bank  account  of  SEBI  viz. SEBI  Sahara  Refund Account bearing No.012210110003740 with the Bank of India, Bandra Kurla Complex  Branch,  Mumbai.  As  regards  sale  or mortgage  of  properties  situated  in  nine  different  cities mentioned above,  Mr. Venugopal  submitted that  appropriate safeguards need be provided for such sale and transfer.  Mr. Venugopal suggested the following safeguards in this regard:

(i) Details of valuation, buyer(s) and terms of sales together with letter (s) of intent be submitted in advance to this Hon’ble Court;

(ii) Buyer(s)  ought  not  to  be  related  party/parties qua the Sahara Group entities/Director etc.  and an affidavit of undertaking to that effect be filed in this Hon’ble Court.

(iii) The  sale  proceeds  be  deposited  by  the  buyer directly to the designated Bank Account of SEBI viz.  “SEBI-Sahara  Refund  Account”  bearing No.012210110003740  with  Bank  of  India, Bandra-Kurla Complex Branch, Mumbai; and

(iv) Actual release of title deeds by SEBI to the buyer be made only upon receipt  of  sale proceeds in the aforementioned Bank Account.

16. A direction to the effect that the sale of the properties shall not be for a price lesser than the circle rates prescribed for  the  area  where  the  properties  are  situated  was  also suggested as an additional safeguard, by the learned counsel. It  was also submitted by Mr. Venugopal  that so long as the valuation of the assets situated outside the country is fair and reasonable, the SEBI had no objection to the sale thereof to enable the contemnors to raise funds necessary for compliance with the directions of this Court. 

17. We  have  given  our  careful  consideration  to  the submissions  made  at  the  bar.   It  is  apparent,  from  the submissions made at the bar, that these IAs have two limbs: In the first  instance,  the contemnors want  relaxation in the restraint  orders  over  the  Bank  deposits  and  immovable properties to comply with the directions of this Court regarding deposit of the amounts. That part of the prayer does not pose any difficulty, as the same is in aid of  compliance with the directions of this Court. Second set of prayers is for grant of bail  or relaxation of jail  conditions in the interregnum. Here, we have our reservations. We are not inclined to modify order dated 26th March, 2014 granting interim bail to the contemnors upon conditions stipulated in the said order. We say so because the  background  in  which  the  contemnors  came  to  be committed to the jail  and the finding recorded by the Court that  they  have  at  all  earlier  stages  tried  to  adopt  dilatory tactics and avoided to comply with the orders passed by the Court  does  not  in our  view call  for  any modification of  the terms on which the contemnors can be released. Dr. Dhawan pleaded, in the alternative, that the least which could be done was to shift the contemnors from Tihar Jail  to a guest house for  incarceration to enable them to take decisions  that  are necessary for  compliance  with the directions  issued by this Court.  This request was opposed by Mr. Venugopal, according to  whom  similar  requests  made  repeatedly  over  several hearings  in  the  past  have  been  declined  by  this  Court, although no specific order refusing the same was recorded.  In support  of  that submission,  our  attention was drawn to the averments made by the applicant  in I.As No.2 to 4 filed by them on 20th May, 2014 which averments clearly show that similar prayers were indeed made in the past also.

18. Apart  from the fact that the prayer  now made is a repetition of similar prayers made in the past which have not cut  any ice  with the bench hearing the matter, we see no reason  to  make  a  departure  from the  usual  course  in  the present case.  The Bench has passed a conditional bail  order after  due  and  proper  consideration  having  regard  to  the attendant circumstances including conduct of the contemnors. The  order  can  be  modified  only  under  very  compelling circumstances. The only reason given by the applicants is that interim release or transfer of the contemnors to a guest house would enable them to dispose of the properties speedily and enable them to arrange for the requisite Bank Guarantees. We don’t  think so.  It is noteworthy that the total amount to be deposited is between Rs. 33000/- to Rs. 35000/- crores. To show their  bonafides, the contemnors have been directed to deposit less than 1/3rd of that amount as a condition for bail. After all, even when this part of the order is complied with and the contemnors  are set  free,  they will  have to arrange the deposit of the balance amount, which again is very substantial. That apart, it is not the case of the contemnors that they or anyone of them suffers from any medical condition that calls for  hospitalisation or  an atmosphere conducive for  recovery from any disease.   This Court  has already issued directions permitting visitation to those who need to visit the contemnors in jail.  That arrangement has not been found to be inadequate as at present so to call for any change. 

19. The prayer for modification of the order, accordingly, fails.

20. We,  however,  find  considerable  merit  in  the submission  made  by  Dr.  Dhawan  that  the  restraint  order issued by the SEBI and by this Court forbidding transfer and alienation of moveable and immoveable assets by the Sahara Group  of  companies  has  the  effect  of  preventing  the contemnors from complying with the directions of this Court which  require  them to  deposit  Rs.5,000/-  crores  in  cash besides a bank guarantee for a similar amount of Rs.5,000/- crores.  While it is true that the contemnors stand committed to prison for their non-compliance with the directions of this Court,  nothing  should  prevent  them from  taking  steps  to comply with the said directions or  the conditions subject  to which they have been granted interim bail.  Restraint against transfer of the assets by the contemnors and the companies promoted by them precisely has the effect of doing so.  The question, however, is as to what extent should the orders of restraint  be  modified.  That  aspect  assumes  importance because of the fact that Saharas need to eventually deposit a substantial  amount  which according to the current  estimate may be in the neighbourhood of  Rs.  30,000 to Rs.  35,000 crores inclusive of interest accrued on the principal  amount. Sale of valuable properties at a price lesser than the market value of such assets is bound to prejudicially affect the interest of the depositors and defeat the orders passed by this Court in its letter and spirit. That is particularly so because according to Mr.  Venugopal,  SEBI  is  unable  to  value  the  properties  or process  the  sale  and  transfer  thereof.   It  was  in  that background  that  we  had  indicated  to  Dr.  Dhawan  learned counsel for the appellants that the restraint orders cannot be lifted in toto and that  Saharas should come forward with a
proposal  for  sale  of  such  properties  as  were  sufficient  to comply with the interim bail  direction of this Court regarding deposit of Rs.5,000/- crores in cash and a bank guarantee of Rs.5.000/-  in  addition.   Dr.  Dhawan  has  pursuant  to  that observation confined his prayer for permission to sell/transfer only nine items of properties situated in nine different cities in the country and disclosed the estimated value of such property in the statement which we have extracted above. Dr. Dhawan on instructions made a statement that although the note filed by him mentions the names  of  nine different  cities  without giving details of the properties situated in those cities but the fact remains that the properties referred to in the note are only nine in number and no more.

21. Keeping in view the total number of properties held by  Sahara  Group  of  companies,  transfer  of  sale  and/or mortgage of the nine items of properties situated in nine cities mentioned  in  the  note  and  extracted  above  should,  in  our opinion, suffice to enable the contemnors to comply with the 26th March, 2014 directions of this Court. In order, however, to ensure that the sale value is fair and reasonable, we need to make it clear that no item of property shall be sold at a price lesser than the circle value of the properties fixed for the area where such property is located.

22. As  regards  properties  situated  in  London  and New York we have by an interlocutory Order passed on 29 2014  directed  the  contemnors  to  furnish  certain  additional information  necessary  for  permitting  the  sale  of  the  said assets.  The  information  demanded  includes permission/approval  from the Bank of China with whom the said properties are mortgaged and shares held by Saharas for repayment  of  the  loans  borrowed  from  the  said  bank hypothecated/pledged.  We have also directed Saharas to get the amount outstanding towards the loan transactions qua the said properties confirmed from the Bank of China so as to give us a clear picture of the extent of liability that remains to be discharged against the said assets. The fact that the valuation reports  regarding  the  three  assets  were  prepared  at  the instance of the Bank of China shall also have to be verified and 22th May, confirmed by the Bank of China, especially because no sale of the assets in question can be permitted at a price lesser than the price at which the said assets have been valued by the valuers  who  are  said  to  be  valuers  of  repute.   Directions regarding sale of the assets outside the country can, therefore, await the furnishing of information and verification of the facts.

23. In  the  result  we  dispose  of  these  I.As  with  the following directions:

(i) The  prayer  for  modification  of  the  termsstipulated in our order dated 26th March, 2014 granting  interim  bail  to  the  contemnors  is declined and the I.As to that extent dismissed.

(ii) Prayer  for shifting the contemnors to a guest house for continued custody and detention till they comply with the directions of this Court for their release on interim bail is also declined and the I.As dismissed to that extent.

(iii) Orders dated 21st November, 2013  passed by this Court and that dated 23th February, 2013 passed by SEBI restraining sale and transfer of moveable and immoveable properties  held by Saharas are modified to the following extent:

(a)  FDs, bonds and securities held by Sahara Group of  companies may be encashed by the holders thereof subject to the condition that the maturity value/sale consideration of such FDs, bonds and securities  shall  be  deposited  in  the  designated bank account of  SEBI  referred to in  the earlier part  of  this  order  and details  of  such maturity values  and sale  consideration  furnished to this Court  on affidavit  to be filed within four weeks from the date the FDs, bonds and securities are encashed, sold and/or transferred. 

(b) Immovable properties owned by Sahara Group of companies  situated  in  9  different  cities mentioned in the note filed by Dr.  Dhawan and extracted  in  the  body  of  this  order  with  an estimated  value  of  Rs.2500/-  crores  are permitted  to  be  sold  by  the  companies/other entities persons in whose names such properties are held subject to the condition that such sales are not for a price lower than the estimated value indicated in the statement filed before this Court or the circle rates fixed for the area in which such properties are situated. The seller shall furnish to this Court the details of  the valuation of  the properties sold and the terms of  sales together with a declaration that the purchasers is not  a related party qua Saharas.  Needless to say that upon deposit  of  the sale consideration the title deeds of the property shall  be released by SEBI in favour of the purchaser(s).

(c) The  sale  consideration  of  the  properties  less transaction cost and statutory dues on the same shall be deposited with the SEBI to the extent the same  is  necessary  to  make  a  total  deposit  of Rs.5,000/- crores inclusive of the maturity value and  sale  proceeds  of  the  FDs,  bonds  and securities etc. permitted to be encashed and sold in  terms  of  direction  (iii)  (a)  above. The balance/excess amount of the sale consideration shall  be  deposited  by  Saharas  in  a  separate account  to  be  opened  in  a  nationalised  bank which  deposit  shall  remain  subject  to  further orders of this Court.

(d) Saharas  are  also  permitted  to  charge  its immovable  properties  situated in  Aamby Valley (Pune), the details whereof are given in Annexure B to IAs No.101-103, for purposes of furnishing a bank  guarantee  for  an  amount  of  Rs.5,000/crores and/or for deposit of Rs.5,000/- crores if there  is  any  shortfall  despite  encashment  and sales  permitted  in  terms  of  (iii)(a)  and  (iii)(b) above.

(e) In modification of  the orders dated 26 March, 2014, we direct that the Bank guarantees to the tune of Rs.5000/- crores shall be furnished from 25th a nationalised bank or  a scheduled bank only. Co-operative Bank Guarantees shall not suffice.

(iv) In so far as sale of the three properties situated outside  the  country  are  concerned,  the question is left open to be determined after the requisite  documents/information  is  made available by Sahara in terms of our order dated 29th  May, 2014.

(v) Keeping in view the importance of the issues that fall for determination in these proceedings and the ramifications that the directions issued by this Court  may have as also the fact that one very important order which is sought to be enforced in these proceedings was passed by a three-Judge Bench, we refer these proceedings to a three-Judge Bench to be constituted by the Hon’ble Chief Justice of India.

(vi) We are further of the view that having regard to  the  nature  of  these  proceedings  and  the stakes that are involved, we need to appoint an amicus curiae. We accordingly, request Mr. F.S. Nariman,  Senior Advocate to assist  the Court as an amicus curiae. Shri Nariman shall be free to associate two juniors of his choice to brief him in the matter.

(vii) We direct that the Amicus curiae shall  be paid his fee @ Rs.1,10,000/- per hearing while the juniors assisting him shall be paid Rs.10,000/- per person for every hearing.    The amount so due shall  be paid by SEBI by debit to account Saharas.                              
           
………………….……….…..…J.
New Delhi
June 4, 2014
(T.S. THAKUR)
………………….……….…..…J.
    (A.K. SIKRI)

ITEM NO.1A               COURT NO.3                 SECTION XVII
S U P R E M E  C O U R T  O F  I N D I A
RECORD OF PROCEEDINGS
I.A. No(s). 101-103 in Contempt Petition(s)(Civil) No(s). 412 &
413  of  2012  in  Civil  Appeal  No(s).  9813  &  9833  of  2011  and
Contempt Petition(s) Civil Nos(s). 260 of 2013 in Civil Appeal
No(s). 8643 of 2012.
S.E.B.I. ..  Appellant(s)
VERSUS
SAHARA INDIA REAL ESTATE CORPORATION LTD. & ORS.. Respondents(s)
Date : 04/06/2014 These applications were called on for     
pronouncement of judgment today.

For Appellant(s)      
Mr. Gaurav Nair, Adv.for
M/s. K.J. John & Co.

For Respondent(s)       
Mr. S. Ganesh, Sr.Adv.
Mr. Gaurav Kejriwal, Adv.
Mr. Keshav Mohan, Adv.
Mr. Sandeep Bajaj, Adv.
Mrs.Shally Bhasin Maheshwari,Adv.
Mr. Gautam Awasthi, Adv.
Mr. Vishwa Pal Singh, Adv.

Hon'ble Mr. Justice T.S. Thakur pronounced the judgment of the Bench comprising His Lordship and Hon'ble Mr. Justice A.K. Sikri.

Keeping in view the importance of the issues that fall for determination  in  these  proceedings  and  the  ramifications  that the directions issued by this Court may have as also the fact that one very important order which is sought to be enforced in these proceedings was passed by a three-Judge Bench, we refer these proceedings to a three-Judge Bench to be constituted by the Hon’ble Chief Justice of India.

I.A.Nos.101-103 are disposed of in terms of the judgment.
(USHA BHARDWAJ)                               (RENUKA SADANA)
AR-cum-PS                                  COURT MASTER
(SIGNED REPORTABLE JUDGMENT IS PLACED ON THE FILE)