Sunday, March 30, 2014

Spike in P-Note investments raise alarm



Spike in P-Note investments raise alarm


28 March 2014 


The surge in participatory note (P-Note) investment in stock markets has emerged as a worrying feature ahead of the general elections as the route can be used to bring in black money into the country. 

With foreign funds pouring into the stock markets, the Sensex on Friday scaled a new historic high for the fifth day in a row and the rupee for the first time in eight months strengthened to 60. 

However, the P-Note component of the foreign institutional investor (FII) flow is seen as a disturbing trend. Investment in shares through P-Notes is a preferred route for high networth individuals (HNIs) and hedge funds from abroad as it allows them to invest in domestic markets through registered FIIs while saving on time and costs associated with direct registrations. 

However, senior income tax officials are of the view that P-Notes are also being used by Indians to reinvest black money in the country. A senior official told MAIL TODAY that P-Notes enable investors to keep their identity anonymous. This is possible as P-Notes can be freely traded and easily transferred without disclosing the identity of the actual beneficiaries.

The official added that the onus of knowing the ultimate beneficiary of P-Notes is on FIIs there have been instances where FIIs have failed to do this. 

There are several reissues of P-notes, which makes it difficult to track the ultimate beneficiary. This had also been highlighted in a white paper tabled in Parliament, the official further added. 

The white paper also admits that since P-Notes are issued from offshore financial centres such as Cayman Islands, British Virgin Islands, Switzerland and Luxembourg, it is possible to hide the identity of ultimate beneficiaries through multiple layers. 

The Securities and Exchange Board of India (Sebi) has been taking measures to check the use of these instruments for black money laundering. While Sebi has laid down know-your-customer (KYC) norms for FIIs, it is the multiple transfer of P-Notes that makes this measure ineffective. "If the government or Sebi cannot track down the ultimate beneficiary of the P-Notes, the whole purpose of KYC is defeated," a senior official added. 

Sebi tightened norms for issue of P-Notes by overseas investors in January by barring 'unregulated' foreign funds from dealing in offshore derivative instruments. These guidelines are aimed at providing more stringent oversight of PNotes. However, Sebi in the past has had to take action against reputed players like UBS Securities and Barclays due to non-compliance with KYC norms.

--------------------------------------------------------------------------
RELATED PLEASE :


Book Review: 

http://www.dnaindia.com/lifestyle/review-book-review-sense-sensex-and-sensibilities-the-failure-of-india-s-financial-sentinels-1588442

'Sense, Sensex And Sensibilities: The Failure Of India’s Financial Sentinels'



18 September 2011


Both the government and the Opposition, as well as financial sentinels like the RBI and SEBI, seem reluctant to enforce rules that can prevent corporate money laundering.

Book: Sense, Sensex And Sensibilities: The Failure Of India’s Financial Sentinels Author: MR VenkateshPublishers: KW PublishersPages: 336

For developing nations, the black markets induced by a recession are a bigger menace than the recession itself. The illicit global economy is a hydra-headed monster, affecting the ‘peripheral economies’ (smaller economies on the border of global trade) the most.

In fact, between 2000 and 2008, the outflow of illicit capital from India was estimated at $104 billion. InSense, Sensex And Sensibilities, MR Venkatesh, a chartered accountant and commentator on trade and economic affairs, holds the Indian ruling class responsible for the rampant money laundering that has flourished in India since the onset of liberalisation and privatisation. 

The Securities scam of 1992, the Ketan Parekh scam of 2001, and the 2G and CWG scams of 2011 are some of the infamous examples.

A study by the Global Financial Integrity, a Washington-based organisation that aims to curtail illicit financial flow, estimates that in 2006, developing economies lost $1 trillion due to black money. MR Venkatesh has done a creditable job of compiling extensive data on the ‘volatile’ black market, and interpreting it financially and legally.

Take participatory notes (PNs) for example: PNs are non-transparent derivative instruments used by investors who are not registered with the SEBI (Securities and Exchange Board of India) to invest in Indian securities. 

PNs are instruments that derive their value from an underlying financial instrument such as an equity share. 

The SEBI permitted foreign institutional investors (FIIs) to register and participate in the Indian stock market in 1992. India-based brokerages buy India-based securities, and issue PNs to foreign investors. Dividends from the underlying securities go back to the investors.

Incredible as it may appear, the only national leader who has demanded disclosure of names and whereabouts of PN holders was AIADMK chief J Jayalalithaa, by no means a politician renowned for her integrity. On the other hand, every finance minister — be it of NDA or the UPA regime — has rejected the suggestion. Even the RBI is all for restricting PN transactions, but the SEBI is not.

The total value of “underlying investments by the PNs was estimated at Rs67,000 crores”, or 26% of cumulative net investments by the FIIs at the end of 2005. And yet, neither SEBI nor the government of India seem concerned about this tradable instrument, or about the identities of the PN holders.

This seems incredible when even the parliamentary committee on finance has conceded that a “legislative framework alone is not enough, because tax-evaders keep shifting their operations”. 

The loss to the national exchequer went up from Rs72,881 crore in 2009-10 to Rs88,263 crore in 2010-11, thanks to the bonanza offered to corporates.

Complex structures, such as legal entities operated by intermediaries working in secrecy jurisdictions (mechanisms used to facilitate illicit financial flows), mostly help the black market. 

For India, the offshore trust created in Mauritius is a catalyst for tax evasion. Offshore companies are often registered in tax havens such as the Isle of Man and Mauritius. 

Beneficiaries of this structure (nominee directors and shareholders) are apparently disassociated from the original trust. 

These tax havens are aggressively marketed by financial intermediaries to potential clients through mainstream publications such as The Economist, with advertisements openly inviting illicit funds. 

Amusingly, capital is almost completely mobile, be-fooling the police in cross-border black-money transfers, and the judiciary is toothless here.

The chapters on ‘plunder’, ‘money laundering’, ‘sleeping watchdogs’ and ‘deliberately weak statutes’ contain clinical scans of how illicit capital is siphoned out of India via the hawala route, and then redirected back into the country as foreign investment.

The collusive roles of national elites and international commercial and criminal interests in this vicious cycle are exposed, suggesting that the national laws and regulations are but a cruel joke.

Governments and multilateral agencies relate dirty money with narco-terrorism, but only casually. The World Bank and the IMF, too, are strangely uninterested in investigating or quantifying illicit financial flows and tax evasion.

But the corruption debate has to expand beyond dishonest politicians and government officials. Financial intermediaries engaged in transacting illicit cross-border financial flow via offshore centres into the mainstream banking system should be nabbed without delay.

There are discreet legal instruments used by MNCs and plutocrats for tax evasion. Their links with criminal activities — such as market rigging, insider trading, payment of political donations, embezzlement, fraud, and bribery — are a threat to democratic politics.

Sense, Sensex And Sensibilities is an insightful and informative narrative on how informal economies are weakening the official economy. 

Venkatesh believes that things can be remedied if the government and statutory bodies decide to stick to the rule book.

For instance, the SEBI and the RBI have the power and ability to “get at the root of the PN conundrum”, and the government should unearth illicit deposits abroad such as those stashed in the LGT Bank. 

But then, this is likely to remain just wishful thinking, given that India is controlled by an oligarchic nexus of politicians and businessmen that has no state and no social commitment.

Thursday, March 27, 2014

The Media Underbelly needs a close look

The Media Underbelly needs a close look

Vk Singh
By MG Devasahayam,
India’s media is under vituperative attack from Arvind Kejriwal, the “Media Manufactured Messiah” firing from all cylinders. Editors Guild of India (EGI) is perturbed and baffled. Couple of weeks ago, when former Army Chief, General VK Singh used the word ‘presstitutes’ to describe certain journalists, EGI rebuked him and urged the public figures not to resort to "vague, unsubstantiated charges of corrupt motives and abuses when refuting, questioning or criticising the media and keep the public discourse civil and within reasonable bounds." 
The other day print media veteran Chitra Subramanian and her electronic media colleague Dhanya Rajendran wrote a piece “Army and Media – Gen VK Singh writes to Home Minister” and placed these letters in the public domain. These letters dated 13.11.2013 and 09.12.2013 respectively ask for criminal prosecution and preventive detention of senior editors and journalists who, he alleges, have violated national laws including the National Security Act and the Official Secrets Act. 
The offences committed range from “abetting mutiny in the armed forces…” to “promoting enmity between different religious groups…” to “acting in a manner that is prejudicial to the defence of India and the security of the state…” Additionally, the journalists are accused of “…being in possession or control of any secret document or information and willfully communicating the same disclosure of which is likely to affect the sovereignty and integrity of India…” 
Mere use of an oft quoted cliché ‘presstitute’ had raised the heckles of EGI. Pray what about certain media element’s unrelenting assault on the very integrity of our Armed Forces and security of the nation? And the names contained in the letters are formidable ones. While I do agree with EGI that use of word ‘presstitutes’ is unbecoming of a former chief of the Indian Army, may I ask this august body as to what they are going to do with the charges of sedition, treason and ‘abetting mutiny’ against some of its own stalwarts.
General VK Singh has been candid in his interview published in ‘thenewsminute’. He has said that Home Minister Shinde must realize the gravity of the complaint because issues/offences like sedition, treason and gross violation of the Official Secrets Act have been raised. According to him there has been clear violation of journalistic ethics and any reasonable enquiry will immediately expose the entire nexus between the Arms lobby and certain key bureaucrats/politicians who have then used certain pliable media people to do their bidding. His expectation is that the entire matter should be fairly and expeditiously investigated and exemplary action taken against the culprits so that any further festering of the grievous wound on the nation is prevented.
The General is so sure of his facts that in the interview he said this: “What we are dealing with here is nothing short of treason. Surely, it must be investigated. You find something against me I'll take it on the chest. But if these people are guilty, as they most certainly are, why are you shying away from taking any action? I think in most parts of the world treason is perhaps one of the most heinous of crimes.”
The fact is that these offences and their exposure by General VK Singh have been ruthlessly suppressed by the media at all levels. EGI and the media barons need to explain why. They should clarify as to whether for them national interest is supreme or the wellbeing of the arms lobby and its cohorts who have been bleeding the Armed Forces dry!
It is not that these serious charges were brought out by General VK Singh because he was vexed with the way Government handled his date of birth issue. Much earlier-on 19 June 2012-Admiral L. Ramdas, who had retired as the Naval Chief nearly two decades ago wrote to Prime Minister and Defence Minister on similar lines seeking a full-fledged Commission of Inquiry.
Inter alia he wrote: “We believe that the above developments have adversely affected the morale of the services and serving personnel, while at the same time signaling an unhealthy, rising tide of dissatisfaction within the retired fraternity of the Indian Armed Forces…..We are also firmly of the view that this situation must be addressed with urgency, because it could pose a serious threat to our national security concerns. Therefore we earnestly submit that the spate of events enumerated above, which have rocked the Army in recent months, must be thoroughly investigated.”
Government kept silent and media suppressed the news! Government of course had lots to hide and skins to save. But why is the media playing ball? What are its compulsions? It is time its underbelly is searched and answers found! And this is the task cut out for EGI?
[Writer is former Army and IAS Officer and author]
The opinions expressed in this articles are the personal opinions of the author. The News Minute is not responsible for the accuracy, completeness, suitability or validity of any information in this article. The information, facts or opinions appearing in this article do not reflect the views of The News Minute and The News Minute does not assume any liability on the same.

Sunday, March 23, 2014

Sam Pitroda’s Convocation Address…

Subject: The Prasanthi Reporter: Sam Pitroda's Convocation Address...

On the subject of parenting thought I'd share this address by Sam Pitroda who is not a Sai devotee...Personally, I prefer to go beyond the Man to the Message which is along the lines of our Jagadgurus of Sringeri and Advaita Vedanta propounded by Sri Adi Sankaracharya...http://www.theprasanthireporter.org/2013/12/sam-pitrodas-convocation-address/
Can only do what we can...admire the courage of your friend to call up the father...am sure she got him thinking, at least:) 

Sam Pitroda’s Convocation Address…

Sam Pitroda’s Convocation Address…
Monday, December 2nd, 2013
Legendary Indian Bureaucrat, a man who is synonymous to success, Mr Sam Pitroda addressed the students of SSSIHL, delivering the 32nd Annual Convocation Address speaking about the nation, nation building and the need for greater changes to have the India of our vision, in the next one decade…
It is indeed a special privilege and honour for me to be here with you today to deliver 32nd convocation address. I want to thank the organizers for giving me this opportunity. I must say I have delivered probably over twenty five convocation addresses but I never had a setting like this. It is overpowering, inspirational, emotional, peaceful, pleasant and unbelievably quiet.
This is my first visit to this University. I have been reading and hearing about it on and off for many years. But one of my colleagues who works with me, Vikas Bagri who graduated from here with a degree in Business (MBA) in 2008 has been working with us for five years. He is an example of your ambassador-very sincere, honest, hardworking, courageous, committed, disciplined, creative, ethical, with an ability to analyze things and willing to do everything, like I see here.Everything you can ask for- you see in him and you all should be proud of the institution you have.
You have a great Institute with so many distinguished people. Before wearing this gown we all were together and I was amazed to meet some of these distinguished people whom I have known for many many years as part of my work in the eighties and I had no idea that they were all involved with this Institute. So you are indeed lucky to have the right spirit, right talent of advisors and seniors, proper environment, eco system and you are lucky to be graduating today.
My congratulations to all graduating students. I wish you the best of the best in your journey forward and I hope you make a substantial contribution not only to yourself, your family, your community but also the country and the world.
I can’t help but think of the day I graduated looking at all these beautiful young faces. I graduated from college with a BSc in Physics just about 52 years ago. It seems like yesterday. I was out there sitting, not with your kind of discipline, unfortunately. Young, just coming out of the Indian independence movement fervor – I was born in 1942. Mahatma Gandhi, Pandit Nehru, Sardar Patel and others were our role models. In those days, telephones were hardly available. In fact, I had never used a telephone in my life before going to America in 1964. I had never seen television in my life before going to America in 1964. Life was pretty simple. Needs were very little and goals were very clear.
I want to tell you a little bit about my journey. To give you an example of how we all take different turns in life and no matter how you plan, the journey turns out to be very different. Exciting, at times challenging, but everything you learn in colleges do add up to lot of good experiences.
I was born and raised in a small little village – a tribal village in Orissa. My parents were Gujaratis settled in Orissa and our heroes were again Gandhi, Nehru, Patel and others while growing up. In this village there were no schools, no water, no electricity, no phone, no doctor or no nurse. My mother delivered eight children – all eight at home – zero cost of delivery. All eight turned out to be mentally healthy, physically healthy and all eight went to America because at that time that was the way to get out of poverty.
My father had fourth grade education – he was a carpenter and his dream was to make sure, like every Indian parent, that his children do get good education. I must tell you nowhere else in the world do parents spend so much time, energy, money and resources to educate their children than in India.
So I got my BSc, then I got my Masters in Physics and then read in the newspaper that President Kennedy has decided to send man to the moon. I was young, energetic, little bit stupid, and I decided to go to America. I had no money, no support, didn’t know anybody. So I found some money, borrowed some, and then took a boat from Mumbai to Genova through Karachi, Aden, Port Said, Alexandria, Naples, Genova. Took a train from Genova to London, took a plane from London to New York and took a bus from New York to Chicago. I had never been there, had never seen snow, didn’t know what cold meant and all of a sudden realised that ignorance is going to help. I went to a college to study for a Ph.D. in Physics when my professor told me that it takes seven years to get a Ph.D.
My priorities changed and I did a Masters in Electrical Engineering because I could get that in one year. Then I spent many years calling my family one by one to America, putting them through college, working hard, built a business in 1974, sold the business in 1979 and then came to Delhi in 1980. I had never been to Delhi before. I tried to make a phone call to my wife and I tried and I tried and I couldn’t make a phone call.
So, with a fair amount of arrogance and lot of ignorance I said, ‘I am going to fix this.’ If I had known everything I know today about India, I would have never even tried it. I learned that ignorance is a great asset. If you know too much, sometimes you back off. I went back to Chicago told my wife that I am going to spend ten years fixing India’s telephones. I didn’t know how and I didn’t know with whom.
Finally I had a chance to meet Mrs. (Indira) Gandhi and that is when I met Rajiv Gandhi for the first time. I could convince Mrs. Gandhi and Rajiv Gandhi that telecom would change the face of this country.  I told them, “Information Technology will give us the resource we never had but it will take 10-15 years. We know we can do it, give us a chance to do it.” Mrs. Gandhi believed in technology.
Rajiv was just about my age and we made a good team. But I needed young people like you to get it done because without five hundred young engineers, I couldn’t have done anything. So it required the right kind of combination of political will, domain expertise and young talent. At that time, we had two million telephones. It used to take ten years to get telephone connection. Today we have nine hundred million telephones and we are a nation of a connected billion. This complex country with all its diversity is now connected for the first time in history. Anyone can pick up phone from any corner of the country and talk to anybody else. It is a very powerful fabric that we have created for the unity of this country. It is for development of this country in a very different way. It cuts across all barriers – religion, languages, physical location and customs. This powerful tool now is going to be an instrument to build a new India. Very few really understand the power of connectivity. The first phase of the telecom revolution is over but the second phase of the telecom revolution is about to begin.
Then I had a heart attack, I had a quadruple bypass and I ran out of money. I had worked for ten years and had spent all my money. When Rajiv Gandhi died, I lost my heart and went back to the US to pay for my children’s tuition. I went on a tourist visa as I had given up my US nationality, but I could not work there on a tourist visa. So I spent lot of time restructuring my life. My mother was there, my father had died there and no one in the family knew that I was completely broken in terms of the heart, had lost my friend. Because everyone assumed that I was powerful and had all that was needed. No one could deal with the fact that it was all gone. But you need an inner strength to build again. So I always tell my friends – my highs are very high and my lows are very low. My roller coaster ride is unbelievable.
Sam Pitroda’s Convocation Address…
I came back and worked on the National Knowledge Commission and then decided to focus on building public information infrastructure to really democratize information because I am convinced that the poverty today is the poverty of information. If we can empower our people with knowledge, education, information – they will figure out the rest on their own. Don’t under estimate the power of people in rural India. Don’t under estimate the knowledge of our young. We have not been able to give them tools. To an extent Gandhiji’s dream of Rama Rajya was not possible because we didn’t have the tools and the Internet.
India has taken long strides in development – the fact that we can feed 1.3 billion people today on our own is a great accomplishment by our agricultural scientists. We are a nuclear power, we have just sent a mission to Mars, we are the largest producer of milk in the world, we have eradicated polio, we don’t have guinea worm and millions and millions of our children can go to colleges and schools.
Internet and web has changed everything. It has changed business models, delivery systems, it is changing governance, education, health, agriculture and banking. Almost everything we do today is basically obsolete. Everything we do needs to be done differently keeping in mind Internet, keeping in mind new technology. So when the government introduced right to information, I believe that was the biggest decision in the history of India. Very few people understand the power of right to information. By introducing right to information we said – we are going to empower every human being in this country. It will take time. It will take probably ten or twenty years but the process is on. Whenever we introduce an instrument like that it takes time to settle. It creates confusion. People misuse, people abuse. We have right to information but we don’t have information organised in a manner that it can be used. So our job is to really organize information.
We are creating two major networks – one called knowledge network to connect all our Universities and R & D institutions, libraries and others, with 40 GB bandwidth to transfer large amounts of information so that our scientists can collaborate better, share resources and expedite research and development.
The second network is to connect 250,000 local panchayats through optical fiber. When that happens, all our villages would have huge amount of broadband capacity. These two networks will cost us about 50,000 crores. The first one is already built, the second one will be built in next eighteen months. In addition, we are creating platforms for ID (Aadhar) that Nandan Nilekani is working on; GIS (Geographic Information Systems) – Dr. Kasturirangan, Dr. Ramaswamy, Dr. Nayak are working on; Dr. Gairola in NeGP (National e-Governance Plan) where information on food distribution, driver’s license, passport, income tax – all would be organised. We are computerizing 32 million court cases because it takes fifteen years to get justice today. We need to organise and computerize the police, CBI and prisons.
Sam Pitroda’s Convocation Address…
Indian conversation today is rubbish. It is all about cricket, bollywood and political gossip. We need to change that conversation. We need to really take the lead forward to talk about Indian values, Indian customs and indigenous development. A nation of 1.3 billion can’t be doing nothing. There are lots of good people in this country doing lots of good work. They don’t get any recognition. It is time to change the conversation in this country and young can do that and you need to take the lead.
I get disappointed when the young in India don’t demand change. You are the constituency who should be demanding change. But you are not demanding change! You put up with the way things are.
So, when this public information infrastructure is built, in may be two or three years at the cost of about 100,000 crores – education will change completely and lot of education institutions don’t want to recognize that. We really don’t need teachers to deliver content and create content. Content is already created by best of the best in the world. It is available on the net. Today we need teachers to be mentors. But none of our teachers are trained to be mentors.
Similarly, the delivery of health services, delivery of government services – all of this is going to change drastically in a very short period of time and you need to be the agent of change. You need to innovate, you need to think differently, recognizing that information brings about openness, accessibility, connectivity, networking, democratization, decentralization and as a result, social transformation.
We are at a tipping point in India, believe me. If we don’t take care of next ten years we are headed for disaster. The next ten years are going to be the most critical years in the history of India mainly because of the potential of technology and the energy in our youth. Technology today, not just IT but like biotech, nanotechnology, stem cell research and alternate energy gives you different ways of doing things. That requires young talent and new minds. Because today in India systems are basically designed to promote perk, privilege and patronage. It is not designed for productivity, performance and processes. We need to change that. We cannot go on protecting the old system with the old guard. That phase is over. They did a great job, with great respect to them, we need to move on.
It is good to look at history to gain strength and perspective. But it is wrong to get stuck in the past. It is time to look forward and not look backward. The world is looking to India to provide leadership because the western models, based on consumption, are not scalable, sustainable, desirable, workable. India needs to provide a new model of development to the world. India needs to really lead the growth. We must continue to grow at the rate of eight to ten percent and we must focus on the bottom of the economic pyramid. We must lift 400 million who are below poverty line and build an inclusive society. A Society where everyone has a place, everyone is equal, everyone is respected. We have been living like this for centuries and we cannot come up with ideas that divide our system. This is where the young have to play an important role.
So, we need to innovate. How do we innovate in a system like this? So, we created the National innovation councils, sectorial councils, state level councils. We are creating a billion dollar fund. We are going into clusters. But then the innovation is not about products, markets, services. It is not just about a globally competitive market place. It is about innovations in governance, innovations in life style, innovations in education, innovations in health. Everywhere I look around, I see a great need to change the paradigm.
Sam Pitroda’s Convocation Address…
I get upset when people don’t welcome change. Everyone in India tells you why it can’t be done. Everyone takes great pride in identifying a problem. You don’t need talent to identify a problem nor do you need talent to suggest solutions. You really need courage and talent to go and get it done against all the odds. Dr. Kurien when he started work on milk didn’t wait for anybody. He just went and did it. It took him forty years. All of these things that focus on nation building require long commitment. Nothing happens in less than twenty years.
Building a nation is very complex, very different. It requires different kinds of parameters, a different mindset. Building a company is easy. Productivity, efficiency, cost reductions, rules and regulations and so on and you can do it.
Our collective task is very complex. When I say our task, I mean you all need to build a very strong, secular, united nation which gives direction not only to India but to the world. The world is looking and the world is interested in India’s development. How do we get everybody to rally? If we can’t put our own house in order how do we get everybody to rally? When you look at the media, you feel that everything is falling apart. Morals are going down, work ethics are going bad, and everybody is stealing everything. The rich are becoming richer and the poor are not being paid attention to and it is chaos, confusion and contradictions.
Sam Pitroda’s Convocation Address…
But when you look at the young, at the tools and technology, you see great hope. You feel we can change the face of this country in twenty years, if we just turn it over to the young and that is the requirement of the day.
So when I see these graduate students my message to them is – Build a very strong self. Build a self that is going to serve people. But first you have to serve yourself. If you can’t serve yourself, you can’t serve anybody. So get a good job, work hard – there is no substitute for hard work. Look beyond your personal interest – to community interests and really create hope.
This morning I had an interesting opportunity to meet Prof. Jaware Gowda, father of your Vice Chancellor, who is 100 years old. He came to have breakfast with us. Full of energy, he could hear, talk, think, discuss and he said, “Mr. Pitroda, I read your report from the National Knowledge Commission. And when you recommended mission on translation, I was thrilled.” A hundred year old man talking not about the past but talking about the future!
This is the India we need to recognize and celebrate. He has no complaints, was not negative and he gave me joy. He made me feel that there is hope. I think there are lessons to learn from so many different interesting people in our society. But they don’t get the kind of exposure in the public.
Some actor will get an exposure. Some cricket player will get an exposure. These are the heroes of India.
So once again I want to wish you all graduating students the best of the best. I want to thank all the parents for encouraging their children to go to this institute and want to thank you for your support to your children. I want to thank all of the teachers and professors and members of the board for giving support and direction to this institute and finally really genuinely thank you from the bottom of my heart for giving me this opportunity and this great platform to have a conversation.
II Samastha Lokah Sukhino Bhavantu II

United They Stand, But Divided They Vote

    Delete Move Spam  More 

MY COMMENT : TNIE(10)


 United They Stand, But Divided They Vote

N C Bipindra 

17th March 2014

NEW DELHI




Comment :


Sir, 

A good attempt, but falls short of the reality prevailing on ground. 

First, lets get the OROP off the list. 

A casual perusal of the type of mails in various Veterans' Groups will indicate that NONE HAVE BEEN FOOLED BY ST. ANTONY'S / P.C's 'PLOY' of budgeting Rs. 500 crore towards OROP, when the actual requirement in Dec 2011 was Rs. 1300 crore !! 

And the credibility of the Congress in the eyes of the Servicemen - Active Duty & Veterans - has ALWAYS been ROCK BOTTOM. 

So, SHEZADA is not going to improve matters !! 

The other fact that comes out from the various Veterans' Groups are that the bulk of the Veterans are SOLIDLY BEHIND THE BJP. Period. No IFS. No BUTS. 

Its because of the selfless work being done by the IESM. And the IESM is all for the BJP. 

AND, CELEBRITIES don't beguile the servicemen. 

So, BJP it is , as far as the majority of the Veterans are concerned. 

SAINT ANTONY - R.I.P. 

You have done enough damage to the National Security apparatus. 

Regards



--
K.Vijayan
3/2, Vasanth Apts.II, 312, Lloyds Road, Chennai 600014
Vijayan Krishna
To Me
Mar 21 at 3:08 PM


---------- Forwarded message ----------
From: balakrishnan hariharan
Date: 21 March 2014 13:19
Subject: MY COMMENT : TNIE


Wildfire: Two MI-17 Naval Copters Join Tirumala Firefighting Excercise


Express News Service 

21st March 2014

TIRUMALA


http://www.newindianexpress.com/states/andhra_pradesh/Wildfire-Two-MI-17-Naval-Copters-Join-Tirumala-Firefighting-Excercise/2014/03/21/article2121203.ece?utm_source=vuukle&utm_medium=web&utm_campaign=vuukle_referral#.UyvsQfv2_3g


COMMENT :


Capt.(retd)H.Balakrishnan,I.N.  from Bangalore


Sir, 

" Two MI-17 naval helicopters from Hakimpet air base joined the firefighting exercise at the Seshachalam forest on Tirumala Hills on Thursday ". 

Regret to say that your knowledge of 'MATTERS MILITARY' , approximates to "ZERO". 

That's the reason for the HOWLER, under quote above !! 

The Navy, for your information, DOES NOT OPERATE ANY "MI" variety helicopters. 

Its the I.A.F. that does. 

Also, Hakimpet is an I.A.F. station and not that of the Navy. 

Regret to state that the standard of your paper is plumbing the depths at an alarming rate on a daily basis. 

Tragic for Ramnath Goenkaji's paper to face such a Fate. 

Regards



-

The Mahatma Season

Ravi Shankar

23rd March 2014


http://www.newindianexpress.com/opinion/The-Mahatma-Season/2014/03/23/article2124538.ece#.Uy57rPv2_3g
Comment :


H.Balakrishnan  from Bangalore


Sir, 

" But Mahatma Gandhi is not going to win elections for anyone. He won India freedom, and gifted by association his magical surname to his favourite family ". 

Wrong Sir. 

If one were to go by Clement Attlee's words - an extract from a letter written by P.V. Chuckraborty, former Chief Justice of Calcutta High Court, on March 30 1976, reads thus: 

" When I was acting as Governor of West Bengal in 1956, Lord Clement Attlee, who as the British Prime Minister in post war years was responsible for India’s freedom, visited India and stayed in Raj Bhavan Calcutta for two days`85 I put it straight to him like this: ‘The Quit India Movement of Gandhi practically died out long before 1947 and there was nothing in the Indian situation at that time, which made it necessary for the British to leave India in a hurry. 

Why then did they do so?’ 

In reply Attlee cited several reasons, the most important of which were the INA activities of Netaji Subhas Chandra Bose, which weakened the very foundation of the British Empire in India, and the RIN Mutiny which made the British realise that the Indian armed forces could no longer be trusted to prop up the British. 

When asked about the extent to which the British decision to quit India was influenced by Mahatma Gandhi’s 1942 movement, Attlee’s lips widened in smile of disdain and he uttered, slowly, ‘Minimal’." 

We Indians have 'RAPED' our History enough and more through the Eminent Historians. 

Enough is Enough. 

Regards










NaMo Dictates The Line as BJP Edges Out Veterans


Pratul Sharma 

23rd March 2014

NEW DELHI


Comment :


H.Balakrishnan  from Bangalore

Sir, 

The BJP, including its VETERANS, never tire of talking about India's 'YOUTH BULGE'. 

Yet, and ironically, its these very same VETERANS who want to represent the YOUTH !! 

Can there be any connect between the YOUTH and these OCTOGENARIANS ? 

These are also the very same people who speak of Hindu culture. But, they also suffer from selective amnesia. 

They conveniently forget about the stage of 
'VANAPRASTHA' !! 

The Manu Samhita says of Vanaprastha: (translation) : 

" When a householder gets to see wrinkles on his body, white hair on his head, and his grandchildren, he should resort to the forest (6.2). 

Also, 

" He should be engaged in regular study, control his senses, keep friendly behavior with everyone, and have a tranquil mind. He must always give in charity, not accept gifts from others, and have mercy on all living beings (6.8).". 

" Have a tranquil mind " - NOT LIKE THE TANTRUMS OF LKA !! 

The fact of the matter is that LKA, MMJ & JS ought to have 'GRACEFULLY' driven into the sunset. 

But they happen to be lesser mortals than imagined by the Aam Aadmi. 

They should now be ruthlessly 'BOOTED OUT'. Period.

Regards.

----------------------------------------------------------------------------Without a Chief, Navy at Sea Over Diplomatic Duties

Express News Service 

Published: 22nd March 2014

NEW DELHI



http://www.newindianexpress.com/nation/Without-a-Chief-Navy-at-Sea-Over-Diplomatic-Duties/2014/03/22/article2123390.ece#.Uy5Z__v2_3g



Comment :



Capt.(retd)H.Balakrishnan,I.N.  from Bangalore
Sir, 

In a word - " YOU CAN'T EXPECT ANYTHING BETTER FROM THIS APOLOGY FOR A GOVERNMENT ". 

Its disgraceful that this ROTTEN-TO-THE-CORE GOVT. has allowed the Indian Navy to be HEADLESS for a month. 

The earlier this disgraceful Govt. is BOOTED OUT - LOCK, STOCK AND BARREL - the better for the Nation. 

Regards