The cost of being the richest...

“The real measure of your wealth is how much you’d be worth if you lost all your money.”


Have always thought that the following building was ugly.

It may be the world’s priciest private residence owned by the world’s fifth richest man and it may have started when Mrs. Nita Ambani was relaxing at a spa at the Mandarin Hotel, New York, and when the Asian interiors struck her, she inquired about the designer.
Source:therichtimes.com


But now we know for sure that this building shall stand as the ugliest image of corruption in India. It was indeed at the cost of millions of Indians who have been enduring the vagaries and the blatant disregard of a few, who managed to be at the helm of this business of corruption.

Source: www.panoramio.com by joelnewell

And sadly, those who suffer shall continue to do so for many more years to come.

The Comptroller and Auditor General (CAG) of India has come down hard on Mukesh Ambani-controlled Reliance Industries Limited (RIL), suggesting the company grossly overstated its development costs in India's largest gas field, possibly causing "significant" financial losses to the exchequer.

As the production-sharing contract involves profit-sharing with the government, a higher capital expenditure results in the profit being lower for the government than it would be otherwise, which the CAG has explained in its 200-page June 7 report to the petroleum ministry.

The CAG report has revealed severe irregularities and violations on part of private operators and government departments and ministries.

Source: Hindustantimes.com

And while reading certain news, one is made to believe that these super rich are magnanimous/benevolent since they are investing their “hard earned” money in India.

Ambani Invests $16.9 Billion In The Heart Of India

But then life shall go on and one should only wait for the next increase in fuel price. One can also wait for the other brother to come up with his idea of a home.

Barely weeks after Mukesh Ambani moved out of Sea Wind, the family’s joint home, into his own 27-story tower that has been billed as the world’s most expensive private residence, comes the news that younger brother Anil is planning to construct his own palace in the sky.

Source: Forbes.com

Jyotirmoy Dey

India has been ranked 13th by CPJ or the Committee to Protect Journalists.

CPJ’s Impunity Index calculates the number of unsolved journalist murders as a percentage of each country's population. For this index, CPJ examined journalist murders that occurred between January 1, 2001 through December 31, 2010, and that remain unsolved. Only those nations with five or more unsolved cases are included on this index.

CPJ defines murder as a deliberate attack against a specific journalist in relation to the victim’s work. Murders make up more than 70 percent of work-related deaths among journalists, according to CPJ research. This index does not include cases of journalists killed in combat or while carrying out dangerous assignments such as coverage of street protests.

Source: cpj.org

While it is understandable when Iraq tops the list, should India be in the list at all?

If we take a look at the countries that have taken a place in this list, it is imperative that we ask ourselves why India is in this list. Except for Brazil, all the rest of the countries are/were facing turmoil due to various reasons.

Statistical Table
Unsolved journalist murders per 1 million inhabitants for 2001-2010. Only nations with five or more unsolved cases are included. Cases are considered unsolved when no convictions have been obtained.

Source: cpj.org

Yet again it shows how government after government has indulged in corruption. We also saw the 4th pillar of democracy (Media) being drawn into the vortex of corruption.

But now with the latest killing of senior Mumbai journalist Jyotirmoy Dey, should one wonder if majority of them are playing it safe?

This killing shocked the nation but will his killers be brought to justice?

Source: www.dailypioneer.com


Today I read that the journalists have begun a fast for CBI probe and I pray they persist until the culprits are arrested.This deserves the utmost support from every citizen too. The 4th pillar may have had lapses but when our nation does get journalists who put their life in danger just so as to expose the corrupt forces, then every citizen ought to join this fight. It deserves the same support that Anna Hazare is being given.

Dey had also met home minister R R Patil in May and submitted the state Anti-Corruption Bureau's adverse report on Mahabole. The officer was investigated after allegations that he helped Dawood's sister Haseena Parkar in an extortion case registered against her. This happened after Akela was booked under the Official Secrets Act for his story on the poor condition of the armoury where the Railways' weapons are stored. It was alleged that Mahabole had instigated the arrest.

Without a strong media, we shall never be able to root out the menace of corruption that is strangling the nation’s growth and threatening its stability.

Now you may have 6

The government continues to drag it's feet in the case of the black money ($1 trillion!)

It is almost two years since the German Government had passed on the names and bank account details of eighteen Indians who had stashed their alleged ill-gotten wealth in the LGT bank of Liechtenstein, a well-known tax haven nation, 190 km from Munich, Germany.

While 15 names were earlier (February 2011) revealed through Tehelka and other newspapers, curiously none of them contained Hassan Ali.

The ED has questioned Khan, facing close to Rs 70,000-crore tax demand notice from the Income-Tax Department, with regard to his past trips to various countries and his business dealings within the country.

At present, the Indian public is made to concentrate only on Hassan Ali.

Investigating officials reportedly found that Ali had so far helped a former Andhra Pradesh chief minister and other top politicians as well as film stars from south India to fund elections and movies. Sources also claimed that one of the Telugu actors is now a prominent politician whose name has been come up during the investigation.

And even though Hassan Ali seems to have revealed the names of many bigwigs, the only soul who is seen to be taken to task is Puducherry Lt Governor Iqbal Singh. Singh has offered his resignation while stating that the passport was issued under the direction of a Bihar Congress leader.

Singh, who met Chidambaram on Friday, had said he had made the recommendation for Khan at the behest of a Bihar Congress leader.

Yesterday, the government has offered to reveal 6 names, while they have yet again given the same old excuse for not revealing the rest.

The Centre has assured the Supreme Court that it would reveal the names of persons who have stashed black money in foreign banks after registering a formal case against them.

Solicitor General Gopal Subramanium, appearing before a bench headed by Justice B Sudershan Reddy, said the government has issued show cause notices against the persons accused of having black money in foreign banks and once a case is registered against them, their names will be made public.

For the present let me wonder how they came up with the six....

Did they do a “Inky, pinky ponky” round?

Or did Sonia place a few selected names and benevolently asked MM Singh to pick up 6 out of them?

Democracy at its best!


Source:


http://ramanan50.wordpress.com/2011/02/04/indian-swindlers-list-names-holding-secret-account-revealed/
http://www.tehelka.com/story_main48.asp?filename=Ne120211TheList.asp
http://news.oneindia.in/2011/03/28/black-money-hasan-ali-threat-sc-ed-politician-aid0101.html
http://news.oneindia.in/2011/04/18/willresign-if-asked-to-puducherry-lt-governor-iqbalsingh-aid0126.html
http://profit.ndtv.com/news/show/black-money-names-to-be-revealed-once-case-is-registered-140231?cp
http://connect.in.com/manmohan-singh/article-blackmoney-cant-reveal-names-says-govt-311-86bbefff8af5198089e1703c2d6573200cd4d6c9.html

Will Kerala show the way?

Kerala has already paved the way and if there is a will, there is a way.

I am not sure if ex-minister Balakrishna Pillai was given enough importance on the national front by the main stream media. But the fact remains that it is the first time that a minister has been imprisoned for corruption and even if it came very late, it should be applauded. And Balakrishnan is no small fry on the political and social front. He has been winning almost every election and won the first at the age of 25; a record they say. If this has not given him enough clout to thwart the law, then nothing can.

The apex court upheld the prosecution plea that the former minister has entered into a criminal conspiracy that caused a loss of over Rs 2 crore to the Kerala State Electricity Board by awarding contracts for construction of a power tunnel and surge shaft of the Edamalayar hydro electricity power project to contractor Paulose (now dead) at extra ordinarily high rates.

The apex court, upholding the appeal filed by the then opposition leader and present chief minister V S Achuthanandan, said the high court had committed a grave error by overlooking the clinching evidence marshalled by the prosecution and the conviction rightly awarded by the special court in Kerala.

Personally, I have nothing against him and am not comfortable with the fact that a person at his age has to face this. But then I also hear that there is no “hard labour”, if this is of any consolation to his dear and near.

When I look at the current scams and the way the congress party thwarted the will of the people or democracy as they say, nothing offers me consolation expect this sentence.

Was it not disgusting to even imagine sacks of money being hauled around to buy votes?

Was it not disgusting to even imagine that our PM was aware of such grand schemes?

And now we do not have to imagine anymore; we may remain disgusted.

Maybe, yes maybe, we shall see those in power behind the bars. And only then can this nation move forward.

Source:
http://www.keralanext.com/news/2011/02/10/article127.asp
http://www.canstockphoto.com/illustration/burglar.html
http://en.wikipedia.org/wiki/R._Balakrishna_Pillai

CAG?

VISION
The vision of SAI India represents what we aspire to become: We strive to be a global leader and initiator of national and international best practices in public sector auditing and accounting and recognised for independent, credible, balanced and timely reporting on public finance and governance.

Just when this organization is celebrating it's 150 years of existence, Kapil Sibal tells the nation that it is made up of fools!

Will Kapil step aside and give his seat back to A. Raja?

Corruption kills one more.

Yet another RTI activist has been killed, when none has been punished/booked for the earlier deaths.

The latest victim is Shashidhar Mishra who was just another hardworking Indian who made his living by selling sweets and biscuits on the roadside. But he also tried to fight against corruption is his own way.

You can read more on these pages..

Guardian


Caravan Magazine


The RTI act was passed in 2005.

On 12 October 2005, the law was passed in parliament to great fanfare. Manmohan Singh claimed that the RTI Act would herald the beginning of a new era and “eliminate the scourge of corruption.”

It seems this act, instead of eliminating corruption is eliminating the activists themselves!

But do we really need such an act to get information in a democratic country?

Is there a need for secrecy in anything?

Is it not the right of the tax payer to know what is happening with his money right from the start of a project?

When India is being hailed as the super power in IT, why cannot information related to government projects be out on the web?

But then even getting this RTI act implemented was not easy, so let us continue to hope that those brave men have not died in vain.

Code of Ethics?

Today, I read with interest the following news:

Like doctors and lawyers, teachers may soon be subject to a “code of professional ethics”, which includes clauses for disciplinary action over corporal punishment, private tuitions and other “anti-community” activities.

This led me to think not about the teaching profession but about the other two professions which are already under the “code of ethics”. Are our doctors and lawyers always operating with ethics? Has this code done any good? If this code of ethics was a deterrent factor how did our CJI get embroiled in the current scam?

Trouble is brewing for former Chief Justice of India K G Balakrishnan, with allegations of amassing of property worth crores of rupees sufacing against his son-in-law and former Supreme Court judge V R Krishna Iyer today demanded a judicial probe into it.

What is professional ethics?


Professional ethics concerns the moral issues that arise because of the specialist knowledge that professionals attain, and how the use of this knowledge should be governed when providing a service to the public.


The professional carries additional moral responsibilities to those held by the population in general and in society.

One of the most far-reaching recommendations of the code is setting up of a professional body like the Indian Medical Association or Bar Council of India, which applies to professionals in their respective fields and imposes penalties in case of reported violations of ethical practices.

As stated above, is it because violations are not reported?



I guess, in the end it all depends on the individual when it comes to integrity and honesty. No amount of “codes” can make one perform ethically if one puts more value to money and power above “professional ethics”.




Source:http://en.wikipedia.org/wiki/Professional_ethics http://www.indianexpress.com/news/scams-embroil-top-exjudges-balakrishnan-and-krishna-iyer/729883/1 http://www.wisegeek.com/what-are-professional-ethics.htm

Kasab can have a few friends.. if not Biriyani or the noose.

Tomorrow would be yet another anniversary of that terrible day in November.


All is well, says State home minister R R Patil and opposition leader Eknath Khadse who visited Kasab yesterday. His mood swings continues to keep the media engaged. If one day he lunges at the camera, another day he complains of the food served to him and was heard asking for mutton biriyani. Yesterday he seems to have said “I have reaped what I sowed.”

But then, he was only a petty criminal willing to kill for a few more dollars. He had already made his pact with the devil. But now I am glad that he survived, else like many other confused Indians, it would have been hard to believe he was not made in India.

I know I am blabbering, but hasn’t the events that unfolded the last 2 weeks reduce us Indians to blabbering fools. What else should we call ourselves when we are robbed of Rs 1,76,000 crores! (not including the CWG, the flat and now the Mumbai land scam) Like a swishing sword, scam after scam has wounded us left and right and one has never felt so low in life. Should we continue to believe in our honest Prime Minister when he is more interested in being meek? The Congress needs to go, along with the Sonias and Rahuls even if the next could be BJP with the Yedurappas, Reddy’s and Modi’s. But let it be so. The country badly needs a change. But before you step down, if you still believe you are a man of integrity, please clean up the mess. Mess would be a mild word, with the media and even the judges now being implicated.

"With the CVC headed by former telecom secretary P J Thomas non-suited to supervise CBI in 2G spectrum scam, the SC should choose an officer of unimpeachable integrity to monitor the probe," he said. Upset at his offer being spurned, senior advocate K K Venugopal said he would rather argue for dismissal of petition than make any further concession.


You may bring back a few crores if you can, but more than that, it would heal the wounded nation if one could see a few give Kasab company. Kasab murdered Indians in cold blood while the elected leaders have killed the spirit of millions of Indians.


Edited to add the following:

Corrupt India: $462 billion illegally transferred overseas between 1948 and 2008



The poor state of governance is reflected in a growing underground economy which in turn has fueled more transfers of illicit capital from India. This analysis is cast in terms of a pre- and a post-reform period spanning a total of 61 years since independence.

One more to the list...

I think it is time to add yet one more to the list of reservation in our country. Corruption!

“But when we reached Delhi, our bosses got instructions from ‘highest authorities’ to delink the Mumbai case from our ongoing investigation. The Mumbai unit also got instruction to limit the case to Bali and Dalmias,” said a CBI official, adding that they were denied permission to verify the transaction details of the two Swiss accounts of the Dalmias.



According to Ministry insiders, Dalmia could be a key player in the spectrum scam. He arrived in early 2005 in Raja’s office in Paryavaran Bhavan, when the latter was Environment Minister. Dalmia was accompanied by two young women and his visiting card showed him to be the Honorary Consular General of a little-known African country, Ministry sources said. “We checked with the External Affairs Ministry and found that he was a fraud. But, in the meantime, he established direct contact with the Minister,” insiders said.

One has seen reservation in education and job and now it is imminent that one more is added else it leaves the ordinary citizen bewildered and dejected. When one read about minister Raja’s swindling of the tax payers money, one did not think of his caste, color, state nor religion but only his crime.

But it seems one should look at those first and then decide if he should be given a concession.

"Raja is a Dalit. That is why dominant forces are levelling malicious charges against him," Karunanidhi said when asked about the Opposition's demand for Raja's dismissal in the light of allegations of a mega-scam in 2G spectrum allocation.

And our honest PM is hanging onto dear life and his government  come what may.
God help our nation!

Source:
Times of India
Pioneer

This rot needs to go……

As we all know, corruption is the bane of any society or country and enough and more has been written about it. I am only adding a little more after reading the 2009 Global Corruption Barometer report, published by Transparency International.

As expected, worldwide and in India, the most corrupt in a country seems to be the political party, while it is a relief to know that the least is the media followed by the judiciary (in India Judiciary is the least corrupt).

The 2009 Global Corruption Barometer asked more than 73,000 individuals around the world the extent to which they perceive six key sectors and institutions to be corrupt. Political parties were perceived to be corrupt by 68 per cent of respondents, followed closely by the civil service (public officials/ civil servants) and parliament: 63 and 60 per cent respectively.

When asked which of the six sectors/institutions they considered to be the single most corrupt, the general public most frequently identified political parties and the civil service, with 29 and 26 per cent respectively. At the lower end were the media and the judiciary with 6 and 9 per cent of respondents respectively seeing them as the single most corrupt institution.

The following are the figures for India.


Now if we thought that the educated are less corrupt then the following poll at Transparency International – India indicates the opposite.

Are literate person more dishonest than illiterate ones?


I guess as one gains knowledge/education, one also learns how to lead a corrupt life! It also means that as educated citizens of a country, we continue to aid corruption.

Transparency International India has managed to seal Integrity Pacts with a few organization starting from year 2006, although more needs to follow. 39 PSU’s in India has so far signed the pact. The list can be viewed here.

The Global Corruption Barometer report also points out the following:

Finally, reporting on bribery takes place at worryingly low levels – with only about a quarter of citizens taking any action against corruption.

And in India, we have painfully noted that reporting can be fatal and the latest being Social activist Satish Shetty from Pune, while earlier the country lost Satyendra Dubey and Shanmugam Manjumnath for the very same reasons.

Satyendra Kumar Dubey (1973 - 27 November 2003) was a project director at the National Highways Authority of India (NHAI). He was murdered in Gaya, Bihar after fighting corruption in the Golden Quadrilateral highway construction project.

The following was written by Dubey..

"A dream project of unparalleled importance to the Nation but in reality a great loot of public money because of very poor implementation at every state." wrote Dubey.

Finally, he ends: "I have written all these in my individual capacity. However, I will keep on addressing these issues in my official capacity in the limited domain within the powers delegated to me," the letter said.. and sadly he was silenced before he could continue.

Shanmugam Manjunath ( Kannada: ಷಣ್ಮುಗಂ ಮಂಜುನಾಥ) (1978 Kolar-2005) was a marketing manager for the Indian Oil Corporation (IOC) who was murdered for sealing a corrupt petrol station in UP.

Source : wikipedia

Though a few have been arrested for the murder of Satish, the real hands behind these murders run scot free due to the very same reason for which they died. Due to immense pressure, Manjunath’s murderers were brought to justice more quickly than that of Dubey and Indian Oil Corporation paid Rs. 26 lakhs compensation to the family. The matter of adulteration in diesel was taken up by the Energy Coordination Committee chaired by Prime Minister Manmohan Singh.

And now laws are being formed to protect whistleblowers.

Senior advocate D Madon, appointed as amicus curie to assist the court, said that countries such as Mexico and Columbia have special systems for providing protection to activists, and authorities are studying them.

But then it is sad to note that, Satish did report to the police that there was threat to his life but no protection was provided.

We also saw the Zero Rupee Note by the 5th Pillar Organization used against corruption. This is gaining ground and I hope these and more initiatives will fight this disease.



The following is one outcome of the Zero Rupee Note:

Benefited out of the Old age Pension Scheme

Kathavarayan, a 72 year old person residing in Then Alambakkam village in Villupuram District, had applied for Indhira Gandhi Old Age Pension that is granted for poor people below poverty line. Mr. Kathavarayan waited for many months after applying for this pension to the Dindivanam Tahsildar office, and when he was replied by a clerk at the Tahsildar office that the scheme is closed, he sent a pleading letter to the Chief Minister's office on 25th June 2008, begging for special consideration and grant him the pension as he has no means to survive. He sent another letter to the CM's office on 9th March 2009 as he did not yet receive the pension. Mr.Kathavarayan, received one of our Zero Rupee Note during our campaign in Villupuram and so he contacted our office and we filed an RTI petition on his behalf, attaching all his previous communications to the CM's office and his application. We did not receive a reply for the RTI petition, but the old man received his pension.

Corruption: "dishonest exploitation of power for personal gain"

and it is true.... when we exploit power for personal gain, the disease called corruption spreads and the whole system rots.

Can we have our revered Judges back?

If there was a news over the last week (heard on TV too) that warmed my heart it was this:

Justice Dinakaran’s name withdrawn from list for SC appointment
By ANI
November 1st, 2009
NEW DELHI - Chief Justice of India K G Balakrishnan on Sunday said that the Supreme Court Collegium has withdrawn the name of Karnataka High Court Chief Justice P D Dinakaran from the list of judges who were to be evaluated for appointment to the apex court.

Not sure if I have rights to point to the following post for further reading: click.. but it gives an extensive account of the case.

I think it is time our judiciary is taken to task.

It was from the movies of yesteryears that I came across “Court martial” and deduced that it was the worst punishment any person serving in the armed forces is given.

Courts martial have the authority to try a wide range of military offences, many of which closely resemble civilian crimes like fraud, theft or perjury.

Indian Army has four kinds of Court Martial - General Court Martial (GCM), District Court Martial (DCM), Summary General Court Martial (SGCM) and Summary Court Martial (SCM). According to the Army act, army courts can try personnel for all kinds of offences except for murder and rape of a civilian, which are primarily tried by a civilian court of law.

Courtesy: http://en.wikipedia.org/wiki/Court-martial

While reading about Court Martial I do read that it has its own problems too. I also stumbled upon a blog detailing those who are facing court martial and other trials for various reasons.

Tuesday, 13 January 2009
Indian Army Courtmartial and Dishonourable discharge: Current List of Officers under a cloud

Anyway, since I am talking about our judiciary I think it is time something similar (or is there one?) is implemented before the entire system collapses. Those in the judiciary themselves are calling for action and hence it is imperative that something is done.

As for declaring assets which I had mentioned in an older post, we do have good news:

Madras HC Judge declares assets

STAFF WRITER 17:15 HRS IST

Chennai, Nov 9 (PTI) Amid a debate over declaration of assets by judges, Justice K Chandru of the Madras High Court declared his assets at the time of being sworn in as a permanent judge today.

Justice Chandru, who was among 14 additional judges to be sworn in as permanent judges, said he was "starting a new convention" of declaring assets at the time of swearing in.

He handed over an envelope, containing details of his assets along with that of his wife and minor daughter, immediately after being sworn in by Chief Justice H L Gokhale.

The court has a strength of 54 judges, including the 14 sworn in today against the sanctioned strength of 60 which includes the Madurai bench.

SC judges declare assets on website
Dhananjay Mahapatra, TNN 3 November 2009, 03:20am IST

NEW DELHI: Two months after the Supreme Court, faced with demands and growing pressure from within, resolved to make public the assets and liabilities of its judges, the details were put up on its official website.

The significant step towards transparency was marked by some surprise revelations — one of the judges doesn’t own even a two-wheeler, while another has a Yamaha motorcycle as his sole vehicle. There are details of land, houses, investments in shares and flats as well. ( See Ninan’s cartoon )

All is not lost...

Judiciary seems to be paving the way for a corruption less society.

The following could be the start and it felt good to note that the Kerala High court along with the Delhi High Court is setting the standard.

STAFF WRITER 20:29 HRS IST
New Delhi/Kochi, Aug 28 (PTI) Judges at the High Courts of Delhi and Kerala today decided to make public details about their assets--the first in the state judiciary, two days after a landmark decision by the Supreme Court judges to reveal information about their wealth.

The assets details that is at the core of intense public debate about the importance of judicial accountability in the country is expected to be put up on the websites of the respective courts in a couple of months since the modalities and manner of declaration are being finalised.

The move by the two high courts came even as Chief Justice of India K G Balakrishnan suggested that the judges of High Courts cannot be compelled by the apex judiciary to follow suit. Balakrishnan however hoped that some of the high courts would follow the apex court.

Yet another welcome news was the resolution passed against Senior Supreme Court judge, Mr. Cyriac Thomas. When I listened to his passionate speech exposing his overly gratitude to the Church I did wonder if his love for Church was more than his love for Christ and his teachings. For some, the passionate love for the church alone can adulterate their faith and the actions that follow. In my opinion he should step down if his love for his Church is a hindrance to his job.

Resolution against SC judgeAugust 29th, 2009
By Our Correspondent

Thiruvananthapuram, Aug. 28: The Kozhikode Bar Association has passed a resolution against the senior Supreme Court judge, Mr Cyriac Joseph, criticising his visit to the Bengaluru Central Forensic Sciences Laboratory to view the narco analysis CDs of the Sister Abhaya murder case suspects.

It was after a two-hour long discussion that the bar association passed the resolution. In all, 180 advocates supported the resolution and six opposed it.
The resolution said that Mr Joseph’s conduct was unbecoming of a judge and sought an inquiry by a SC judge into the allegations against him. The resolution also said that he should step down from his post while facing the probe. However, those who opposed the resolution said that allegations against SC judges should be discussed in Parliament and not in bar associations.

On Wednesday, 62 members of the Kerala High Court Advocates Association had moved a resolution against Mr Joseph in a meeting of the association. However, the meeting rejected the motion saying that it was not legally maintainable.

Vote for BJP!

Why am I saying that?

Did it suddenly dawn on me that BJP is better than Congress? (2 main National parties).

Frankly speaking it hasn’t. Sitting far away from the election heat and die hard voters who may influence my opinion, it was easy to watch both parties impartially. And none of them scored better until I picked up just this from Adwani.

"If NDA returns to power then we’ll force Indian citizens to bring back their wealth to India and use the money here.”

Earlier I did read email forwards on this “Swiss money” but kept wondering if it could be really true. But then the cynic in me told that every political party and their benefactors would have their share. If money can be so easily stashed away by ruling parties then BJP just did not have enough time to siphon it!

But now they have a chance to prove that they are different. If this is not just an election rhetoric and if Advani really has the nation’s interest at heart then he needs to keep no other promise. This money is more than enough to take India on the onward road to glory that it truly deserves.

And today I read this article from S Gurumurthy. His articles have always been thought provoking and at times provocative too. But then truth sometimes hurts.


Secret wealth abroad

02 Apr 2009 08:11:30 AM IST

Switzerland has been accused of giving shelter to black money and there has been a lot of inflow of such wealth from India and other countries of the world.” This is not L K Advani, on election mode, speaking last Sunday, but the Swiss ambassador to India briefing the media in Delhi last year.


The occasion was the 60th anniversary of Indo-Swiss Friendship Treaty. Admitting that Indian black money gets hoarded in his country, he added that the new law in Switzerland would, not stop it, but control it “up to a certain limit”.