6. Manmohan Singh- Sonia Gandhi-Poison

6

POISON

Economic matters:

The Supreme Court on 28 July 2004 issued notices to the Centre, Dabhol power Company, Enron Power Development Corporation, Central Electricity Authority and Maharashtra Electricity Board on an application by the Centre for Indian Trade Unions (CITU).

A farmer on 30 July 2004 went to the District Collector Office at Nagapattinam in the Tamil Nadu State seeking relief from the District Collector. As the Collector had left the office, he consumed poison and died.

The initial public offering of the TCS on 30 July 2004 was over subscribed by 1.6 times (8.5 Million shares) on the second day of the offer itself. 60 % of the offer was reserved for Qualified Institutional Bidders (QIB). The FII limit in TCS was 24%. There was a green shoe option of 83.17 lakh shares. The IPO of the TCS was oversubscribed by 8 times within a few days. There were reports that the banks lavishly gave Re.10 lakhs each to individuals to buy shares.

The decision to lend money to some individuals was an arbitrary decision. It was out and out unconstitutional.

 Instead of saying that the money in LIC belongs to about ten industrialists, Dr. Manmohan Singh, Prime Minister of India, and Mr. P.Chithambaram, Finance Minister, gave the money to the TCS. In this way, they discharged their contractual obligation. The Union Cabinet also might have approved their policy.

Mrs. Sonia Gandhi knew the above policy. But it was not clear whether she had any view over this or not. However, the industrialists had been projecting her as a national leader only because she had been ignoring such decisions. Therefore, she might not have discussed this matter with anyone.

The above development prompted this writer to send the Letter No.6 on 10-8-2004 through email. Overall, it was Letter No. 37.

The copies of the letters were sent to the Central Bureau of Investigation (CBI), Central Vigilance Commissioner (CVC) and the National Human Rights Commission (NHRC). The letter follows.

From

V.SABARIMUTHU

Thattankonam

Vellicode

Mulagumoodu 629167. e-mail :sabarimuthu@rediffmail.com

To

Dr. A.P.J. Abdul Kalam

His Excellency the President of India

Rashtrapathi Bhavan

New Delhi

Your Excellency

            Kindly consider the reasons why the new Government must work in “good faith”.

1.Mr. Shekhar Gupta, Editor of “The New Indian Express” revealed in August 2002 that 50 per cent of the petrol pumps allotted since the NDA came to power had gone to the kith & kin of the BJP and the RSS. He wanted the people to support privatization as the MPs had misused their official position.

          This was a sufficient cause for the  Supreme Court to hand over the petrol pump sanctioning power itself to the industrialists in December 2002. It remains as a false, wicked and evil doctrine.

       When the courts in one state act in bad faith, the Supreme Court changes the cases to some other states. There must be an escape route when the Supreme Court acts in bad faith. One way is conducting Orientation Courses and Refresher Courses to give to the learned judges the knowledge of the good.

2.       The Supreme Court is now sitting on the ruins of the Constitution due to the BALCO verdict. It remains crippled as the appeal against the HPCL/BPCL verdict is still pending in the Supreme Court. Is the President of India not duty bound to restore the Constitution to its pre-eminent position?

3.         It was Dr. Manmohan Singh, Prime Minister of India, during his stint as the Finance Minister of India introduced the concept of privatization in 1991. None realized that he had been destroying the Constitution of India from within. Brokers had been allowed to transact business worth Re. lakhs of crore. Banks had been allowed to manipulate public funds. The stock Market scam ensued and all small investors perished.

     Dr. Manmohan Singh – standing on the floor of the Parliament - then advised the people to invest their money in mutual funds like the UTI. Those who believed his words were again expropriated. None could imagine that Dr. Manmohan Singh, who had been holding the key to all treasuries in India in his capacity as the Governor of the Reserve Bank of India- was oblivious of the manipulations of the industrialists?

        The spurt in the NRI remittances saved the Nation then is another matter. According to the CBI, the industrialists earned through expropriation in five years more than what they did during the preceding several years. 

            4.         The Enron Corporation forced the UF Government to sign an illegal and unreasonable agreement. It was a wrong agreement because the Enron did not increase the salaries of the employees as and when the value of the Indian currency fell. At best Enron could have been given the 1996 exchange rate for imports and profits.  Therefore, India must have filed a case against it.

      Now Enron is chasing India. It might have used political pressure also, as Mr. Dick Cheney,  Vice President of the USA, intervened with India on its behalf to make the best out of the Dabhol Power Project. It is strange that this Government did not learn any lesson from this fiasco.

            5.         In the previous month, a farmer went to Nagapattinam Collector Office in Tamil Nadu. As the District Collector was not there to receive his petition, he consumed poison and died.

      If the Government had given Re.200 or Re. 300 per month to him directly, the news of his suicide would not have disturbed many people.

     If the Government had no money to give to such people then also none would have said anything.

    The condition of the employees is not a different one. Their salaries used to double in every five years. Now it remains stagnant.

     Even part of the 1996 pay commission arrears and the periodical D.A. remain unpaid in some states.

     The recent pay benefits are also not given.

    Why should India suffer like this? Though the Government could double its income instantly, through the suggestions of this writer alone, the Government is not acting. What will the people do? Is inaction, not an act of corruption?

6.         Now Dr. Manmohan Singh,  Prime Minister, apparently, in consultation with the Finance Minister and the Governor of the RBI has asked the financial institutions to buy the shares of the TCS and other companies. Apparently, some individuals have been granted permission to take Re.10 lakh each from the banks to buy the shares. Some individuals might have availed themselves of the loan from 10 different banks or through 10 different individuals.

      If the Government continues to release money like this to the stock market, or the TCS is allowed to use the money thus collected to manipulate the stock prices, the TCS share prices will reach Re. 5000 within a year. Thus some privileged people would earn not less than Re.1crore without burning a drop of midnight oil or paying even income tax. The banks also would gain. If the share prices fall, everything will disappear as non-performing assets.

       Further, even without the help from the banks, the TCS would have sold all its shares. It wanted just Re.5000 crore but collected Re. 40,000! Why should the public money in banks go along with this? Is this the way to make the Nation rich? An investigation would reveal that the favoured people of a few states got the money from the banks.

7.    Mr. C.Rammanohar Reddy of “The Hindu” on 12 August 2001 said that the favoured companies were manipulating the policies and rules in the economic ministries over which the Office of the Prime Minister had total control. “The Indian Express” on 20 August 2002 disclosed that several corporate houses absconded after collecting Re.several crore through mega issues. In this connection, the paper mentioned Mrs. Rita Singh, Mr. Sailesh Kattary and Mr. Kumar of Delhi.

    Mr. Chandra Shekhar, former Prime Minister of India, on 21 August 2001 revealed in Parliament that a particular industrial house had stranglehold over the Government.

     Mr. Dasmunshi expanded the initialism of the UTI as the United Thieves of India.

     Mr. Kirit Somayya of the BJP said that Reliance Industries had looted the UTI.

     Mr. Alvi of the BSP said that the Prime Minister did not answer his letter against Reliance (RIL). His complaint was that the RIL used the money collected through a public issue for playing on the floor of the stock exchange. He said that even the portfolios were determined by the RIL. The Prime Minister knows this better.

8.     In the light of the above, it could be easily said that the banks and the LIC must be debarred from lending money to buy shares or using it for any speculative purposes. The 5 percent permitted in the budget to the financial institutions for brokers or for any investment in stock market is an illegal act.

      This leads to flight of capital and economic deprivation.

     It creates payment problems to the states.

      It affects the salaries of employees and wages of the workers. It is an act of corruption.

     This is misuse of prime ministerial power.

     The act of removing the public funds to invest abroad too is expropriation.

      Therefore, no due certificates from the Indian banks must be furnished before taking money abroad.

        Further, it is the convention of the Prime Minister to determine the priorities of the banks through simple nods.

     The Attorney General would tell the President that expropriation of 1000 million people by the Prime Minister through any ploy is unconstitutional.

       The Prime Minister and the Finance Minister would not agree with this.  

       Mrs. Sonia Gandhi would say that she was ignorant of everything connected with the economy. This is, perhaps, the reason why Plato said that power in the hands of the ignorant is poison. 

9.     It is letter No.37. It is said that men will not always reconcile themselves to continual stinging.

       Plato says that the very means whereby the brutal man sought to become the better man would ensure that he became the worse.

   Hence, there must be a limit for writing letters. In fact, it is not possible for this writer go on writing like this.

     But some one must convey the aberrations of the people.

    One would imagine that the Prime Minister, Finance Minister and the old “Super Cabinet” are the real beneficiaries of the above manipulations.

 This would propel the people to think that the Prime Minister owes his present position to the industrialists.

    This would push the people to think that the Prime Minister and the Finance Minister are enjoying the rewards of the benefits they bestowed to the industrialists in the past.

10.Even the Greek - 2300 years ago -said that no greater calamity could come upon a people than the privation of free speech.

        All newspapers are aware of the existence of these letters. More than 20 letters of this writer are with Mr. M.P.Veerandra Kumar, President of the Indian Newspaper Society. They are not ready to mention the name of this writer at all.

      The public sector TV channel, DD, under Dr. Manmohan Singh too remains as a distorting vicious force.

 Further, there is a real threat to the life this writer. This shows how brutal and barbarous man can be to man. Does the system act in good faith? The President alone knows.

Vellicode                                                                                               Yours faithfully

10-8-2004 

                                                                                                            (V.SABARIMUTHU)

The developments after the above letter.

On 9 August 2004, the Prime Minister addressed a letter to the Cabinet Ministers not to use their power to exploit the PSUs.

Mr. Mani Sankar Iyer,  Minister for Petroleum, said that even if the import duties on petroleum products were eliminated, the benefits would not reach the people.

Hectic consultations and some meetings ensued. The DD said that the Prime Minister was undertaking a review of the Common Minimum Programme (CMP). The Finance Minister consulted the RBI Governor. The DD concocted a story as it described this as a discussion to control inflation.

The RBI on 9 August 2004 said that the depositors of South Indian Co-operative bank Ltd would be allowed to withdraw only upto Re. 1000/- of the total balance in every saving bank or current account or any other deposit account.

The BSNL on 11 August 2004 informed its decision to buy GSM equipment orders worth about $862 million with Canada’s Nortel Networks Inc and Finland’s Nokia.

“The New Indian Express” on 14 August 2004 reported that some $450 -$ 500 million of foreign money would flow into India to pay for the  initial public offer of the Tata Consultancy Services Ltd.

In his 58 Independence Day eve address to the Nation on 14 August 2004, Dr.A.P.J. Abdul Kalam, President of India stressed the need for improving the education policy. He advocated a uniform All India Examination System. He said that the education in its real sense is the pursuit of truth. This went down as an encouragement to this writer.

The President of India - during his visit to South Africa - wanted the younger generation to learn an educational value system, transform religion into spirituality and remove economic disparity. This again was consistent with the theme of these letters.

In his 58th Independence Day address to the Nation on 15 August 2004, Dr. Manmohan Singh said that he had to make the officials more accountable and the Government more transparent.

He emphasized that the national progress was a collective enterprise.

He acknowledged that the citizens increasingly demand a Government accountable to the people.

He pointed out that the people wanted not only probity but also efficiency in public affairs.

He stressed the principles of secularism, social justice and the equality of all before law.

As the question of ethics was agitating the mind of the people, he wanted a code of ethics for all political parties, all individuals in public life and a code of best practices for the Government at all levels.

He gave a promise to look within the political parties and themselves to find out the root cause of the decline in the values in public life.

“The Hindu” said that the accent was on reforming the ways the Government functioned.