100 POSTULATES OF DEBT RECOVERY THEORY

100 POSTULATES OF DEBT RECOVERY THEORY 
A TREATISE ON ECONOMIC SYSTEM 
By :: Pt. Santosh Bhardwaj
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The banks lure common man to take loans from them, which are generally at much higher rates, at times, as high as 47.5%, for purchasing domestic goods, cars, houses etc. at variable, as well as fixed rates of interest. Personal loans are hurting. The lender employ dirty tricks, threats, thrashing, abduction, acquiring property illegally.
The youngsters have a craze for credit cards. They generally make purchases to satisfy their desires. They want all comforts-amenities in their homes. Their jobs are not secure and they come under stress as soon they lose a job.
One who take loans beyond his paying capacity may suffer in due course of time :-long run and short run as well.
Loan fares-Melas are organised by the banks to lure farmers-agriculturists. The farmer takes the loan for buying seeds, fertilisers, equipment but generally spend it over marriages, houses, wine, gambling etc. He knows that the successive governments will wave off the loans since many of the farmers commit suicide due to one or the other reason often passed off as over burdening-failure to repay loans.
Though loans are not essential, yet businessmen prefer to take loans, mortgaging their assets with the lender bank, financial institutions.
Companies flout term loans, debentures, bonds etc. to attract loans from general public. In this process the assets are over valued, profits are shown by manipulating accounts to lure-be fool public, by fraudsters. Established reputed companies do not adopt this tactics. they show real value of their share in the form of book value, market value.
The role of politicians, police, bureaucratises and even the judiciary is dubious-doubtful in granting loans to business house and individuals. 
The laws dealing with the recovery of bank loans are loose and full of lapses and are generally in favour of the corrupt fraudulent thugs. 
The governments support the banks to keep up their credibility. During this financial year a booty of Rs.2,00,000 crore has been given to banks.
The economist begins with the phrase :- "pari passu"-all other things being equal, be it utilitarian, demand and supply, monopoly, duopoly or oligopoly.
In real life this situation never occurs. Every one is guided by lust for pleasure, comforts. The interpretation is given by indifference curve, which is restricted to situation, time zone and the country-society.
All crimes, politics, human behaviour are guided by desires for more i.e., money power and might, which are inseparable. 


 (1).The market conditioned are decided, controlled by the situation :- whether its a buyers or sellers market, the market is depressed or cheerful-boom.
(2).The tastes, sentiments, preferences and love-desire for a commodity, special occasion leads to judgement for purchase.
(3).Desire to show off, influence others, to look bigger, higher, stronger, influential.
(4).Desire to attain bigger, higher position-role, say in business, as a supplier, producer, manufacturer, employer, merchant.
(5).Fashion, trends, changing tastes, needs, climatic conditions, interests.
(6). Buying for the sake of buying-wasteful expenditure, extravagances, undue donations-charity to non deserving, terrorists, Christian missionaries, Islamic Jihadis. To maintain-copy life style of others, big, influence of films.
(7).Money available through inheritance, without hard labour-toil leads to wasteful unnecessary expenditure. Imprudence, ignorance, foolishness plays a big role in such an event. Lavish life style, arrogance too affect spending money.
(8).Sudden crash of local-international share markets, intercontinental trade.
(9).Slowdown in governmental expenditure.
(10).Increase in liabilities, restricted-tight payment positions of government, individuals.
(11).Liabilities in the form of loans :- local market, banks, financial institutions,  international.
(12).War, natural calamities, epidemic do affect the market conditions.


(94). The Enforcement Directorate has recovered around Rs 3,000 crore by attaching the properties of the defaulters-fraudsters, in just 1 month. 
(94.1). Assets under PMLA worth Rs. 15 crores (market value) acquisition value is 1.67 crore, of Awadhesh Prasad Singh, former Chief Engineer, North (Tube well wing), Minor Irrigation, Muzaffar Pur in a corruption case.
(94.2). Assets worth Rs. 10 crore (market value) of Ashok Yadav, a dreaded gangster of Samasti Pur, Bihar, facing charges of murder, loot, dacoity, extortion and kidnapping. The assets were acquired by him for Rs 75 Lakhs.
(94.3). Attaches immovable properties worth Rs.39 crores under PMLA of  Future Metals group of Bangalore, its promoters Naveen & Sudheer Sriram in a case involving cheating STCL, a PSU.
(94.4). Attaches assets worth Rs. 52.58 Lakhs of D.K.Panda of Vinayak Minerals, Bhubaneswar under PMLA for fraud in lifting coal using Odisha Consumer Coop Federation. Total attachment in the case till now is 112.81 crore.
(94.5). Attaches assets worth Rs. 83 Lakhs of Triveni Kumar Mohanty of ponzi schemes of Star Group, Bhubneshwar under PMLA.
(94.6). Attaches assets worth Rs. 42.36 Lakhs of Ajay Kumar Ray, former Additional CTO, Odisha, under PMLA in a Disproportionate Assets case.
(94.7). Attaches assets worth Rs. 6.52 crore of Surendr Nath Mishra @ Sur Baba, a self styled God Man in cheating & fraud cases. Total attachments in the case now are worth Rs 21.47 crores.
(94.8). Attaches assets worth Rs. 6 crore under PMLA of Delhi based lawyer Rohit Tandon involved in illegitimate conversion of demonetised currency. Total attachments worth Rs 49 crore have been made in this case till date.
(94.9). Attaches assets worth Rs 5.41 crore of R.K.Jain Director of Priyank Overseas Ltd. Delhi, provisionally under PMLA. R.K.Jain was involved in cheating STC, a PSU in connivance with officials of STC.
(94.10). Attaches assets worth Rs.4.92 crores (guideline value) at Chennai  under PMLA belonging to  R. Subramanian, MD of Subhiksha retail chain of departmental stores, in a case related to Bank Fraud. Total attachments in the case now are 9.47 Crore.
(94.11). Attaches assets worth Rs.4.21 crores under PMLA of Paw Puri Rice Mills, Nalanda involved in fraud in relation to milling of rice at Bihar State Food & Civil Supplies Corporation.
(94.12). Attaches properties worth Rs 462 crore in Bandra West, Mumbai, under PMLA of Pyramid Developers, in a case of fraud related to slum Redevelopment Scheme against Baba Siddique & others.
(94.13). Attaches assets worth Rs 3.71 crores under PMLA of Nani Agro Foods, Erode & GLS Films, Gurgaon in a case involving misuse of third party accounts for  cash deposits in demonetised currency in  Bank of India, Gaya during Demonetisation period.
(94.14). Attaches assets worth Rs. 15 crore under PMLA of S Rajendran alias good luck Rajendran of Chennai in a case of illegal remittance of US$ 1.97 crore abroad
(94.15). Recovers & seizes Rs. 21.85 Lakhs and Foreign currency worth Rs 18.17 Lakhs during searches at Guru Forex, Karol Bagh, Delhi and residence of Heera Singh, alleged gold smuggler.
(94.16). Special PMLA Court, Mumbai orders first confiscation under PMLA in Maharashtra of assets worth Rs. 2.60 Crore belonging to M/s. Sadhrta Retail Ltd. & Deja Vu Solutions of Mrs. Anjana Upendra Chokshi & Kaustubh Upendra Chokshi involved in a ponzi scheme.
(94.17). Attaches assets worth Rs 375.71 Crores under PMLA of M/s Nakoda Ltd. Surat comprising its plant & machinery, building & land in a Bank Fraud case
(94.18). Attaches properties in Delhi & Gurugram worth Rs 14.53 Crore under PMLA of Pushp Steel and Mining Pvt. Ltd. of Sanjay Jain & Atul Jain in a coal block allocation case.
(94.19). Attaches properties worth Rs. 1122 Crores of M/s Diamond Power Infrastructure Pvt. Ltd., Vadodara (DPIL) & others belonging to Suresh, Amit & Sumit Bhatnagar under PMLA in a Bank fraud case.
(94.20). Freezes Land, buildings, Plant and Machinery worth Rs 48 Crores of M/s Kanishk Gold Private Limited, Pukkathurai, Kancheem Puram & others, manufacturing “KRIZZ’ brand gold jewellery, during search at their factory under PMLA, 2002 in a case of Bank Fraud.
(94.21). Attaches fixed deposits of over Rs 143 Crores under PMLA of M/s Kanishk Gold Pvt. Ltd, Chennai. Total assets worth Rs 191 Crore have been frozen/attached in this case of Bank fraud till date.
(94.22). Arrests Dinesh Jajodia, a Mumbai based Chartered Accountant & Tax consultant, for his role in aiding money laundering for Geodesic Ltd. Geodesic had defrauded shareholders & FCCB holders by creating web of shell companies.
(94.23). Issues Show Cause to Zahoor Ahmed Shah Watali, a Jammu Businessman under Foreign Exchange Management Act, for receiving Rs 62.93 Lakhs foreign currency in violations of FEMA regulations. He was actively working as conduit for foreign funds of J& K based terrorist organisation.
(94.24). Attaches properties worth Rs.83 Lakhs of Prakash Patil (ASI, Surat Rural Police) invested in the farm lands and plot in the name of his wife in a disproportionate assets case.
(94.25). Attaches properties worth Rs.83 Lakhs of Prakash Patil (ASI, Surat Rural Police) invested in the farm lands and plot in the name of his wife in a disproportionate assets case.
(94.26). Attaches assets worth Rs 14.48 crore of Yadav Singh, former Chief Engineer NOIDA under PMLA in a disproportionate assets http://case.Total  attachments worth Rs 20.38 crore have been made in this case till date.
(94.27). Attaches assets worth Rs 184.68 crore of Bharat Bomb, an Udai Pur based Chartered Accountant and others under PMLA in a bank fraud case in Rajasthan. Total attachments in this case as of now is Rs 302.66 crore.
(94.28). Seizes over 34000 pieces of jewellery worth Rs 85 crore under PMLA of Mehul Choksi controlled Gitanjali Group brought from Dubai.
(94.29). Attaches further assets worth Rs 171 crore in Nirav Modi Case.[23.05.2018]
(93.1). Deepak Kochar (husband of ICICI's MD Chanda Kochar) decides to become entrepreneur one fine day. He registers a company and starts a website. He starts blogging about how he wishes to electrify India. He picks up a fancy name for his company Nu Power.
Dhoot of Videocon decides to pick up shares in the JV, even before the new company has even fixed a light bulb. Now, Dhoot's kindness was because his company Videocon was about to receive huge loans from consortium of banks including ICICI headed by Chanda Kochar and SBI. So, Deepak Kochar is now a successful businessman like Nirav Modi, Jay Shah and Robert Vadra. He puts up a couple of wind mills in a few states, plants news about major expansion and again goes on a borrowing spree. Unbelievably he gets Rs. 3 billion investment from Singapore and 7.5 billion rupees from PNB. Meanwhile, management people starts quitting the company and company website goes silent for  past 2 years. People start wondering if really any such wind mills existed.
So, Deepak Kochar goes mute and Chanda Kochar turns patriot. She starts posting her pictures of sweeping leaves outside ICICI office in response to Modi Swachh Bharat Abhiyan call, praises Demonetisation, GST and accompanies the prime minister to Davos along with another great businessman, Nirav Modi (who himself was looting PNB).
The ICICI bank has already given a clean chit to Chanda Kochar even before CBI has started the investigation. ICICI gives the same lame excuses as was made during Mallya, Nirav Modi scam that they were not lead investors. Almost every time, a nationalised bank becomes the lead investor to confuse RBI and absolve ICICI of any wrong doing.
Just search Avista Advisory, run by Rajiv Kochar, Chanda Kochar’s brother in law (Deepak Kochar’s brother). Every single deal in respect of big clients like Essar, Jyoti Structurals, Suzzlon etc. etc. was routed through this so called loan syndicate and each loan used to be passed without an iota of scrutiny. Avista used to get 5% fee for each deal. It’s widely known in ICICI bank that Chanda herself used to pitch for these loans in the credit committee. Most of these loans have turned NPAs, but that’s a different story. What is the common pattern is the web of corruption and enrichment so cleverly and intricately woven by the Kochar family around ICICI bank. Videocon issue is just tip of the ice berg. Let investigators simply examine Avista’s books to know how much of its advisory income has come from ICICI bank loans.[09.04.2018]
(93). MODUS OPERANDI OF PNB FRAUD :: Nirav Modi, wants to import pearls or diamonds and then sell them. The purchase requires money, so Nirav Modi approaches a bank, say Punjab National Bank (PNB).
PNB says look, I’ll give you a loan but it will be like at 10%.
NM thinks hard and says, no, that’s too much. Wait, why don’t I take a foreign currency loan instead, after all I’m buying in dollars? Much lower interest rates no? I can get at step to calculating interest rates on various loans throughout the world.
London Inter bank Offered Rate (LIBOR)+2% and LIBOR is like 1.5% so I’ll have the money at 3.5%!
But who will give NM a foreign currency loan? A bank abroad? They don’t know NM. They don’t have any history of NM, so why will they give him money?
SO NM goes to PNB and says, boss, you’re my banker, so please help some foreign bank give me some money to buy diamonds. Say that you will guarantee my loan by giving me a “Letter of Undertaking” (LOU).
PNB now should be saying look, if you want me to give Rs. 100 crore. guarantee, you give me stuff worth 110 crore. at least. As collateral.
But PNB, for some strange reason, doesn’t ask for collateral. (Political patronage, corruption) More on that later.
So, now the foreign bank is ready to lend NM the money. Because PNB will guarantee it. And the foreign bank trusts PNB. Why does it trust PNB?
Because PNB sends a message on SWIFT-the banking message service that PNB guarantees Rs. 100 crore. of money for 180 days for Mr. NM at an interest rate of, say, LIBOR + 2%.  It’s like a message, written in stone, effectively that says PNB will pay if NM doesn’t pay.
In fact the foreign bank trusts only PNB. So it gives the money to PNB's account with it, called by PNB as a “Nostro”-the account that PNB maintains with banks abroad, where the other bank will send money meant for PNB customers.
A Nostro Account is an account denominated in a foreign currency established through the local bank at a bank in the respective country of the currency desired. The terms “nostro” is derived from Latin terms meaning “ours” and “yours” respectively.
PNB’s nostro account gets the money.
PNB then gives NM the money from the Nostro account, usually paid off to whoever NM is buying his diamonds from. This payment is to someone outside India usually, to fund a purchase of diamonds or whatever.
Note :: The other bank gives money to PNB’s Nostro account. Not to NM. They don’t care about NM. They only know that PNB has given a guarantee on the SWIFT channel.
The other bank is nowadays mostly the foreign branches of Indian banks. Because the foreign banks have realized something sinister-that PNB’s guarantee is a strange beast that isn’t backed with much.
The foreign bank couldn’t care less about whether NM was buying diamonds or bitcoin-to them, PNB would pay back even if NM’s bitcoin wallet got stolen.
Why does PNB give a guarantee? Fees. Each year, a bank may charge up to 2% to give the LoU-Letter of Undertaking.
So, what Happens, when it’s time to pay back?
NM has to get the pearls in India, sell them, receive the money and pay PNB. On the due date written on the LoU.
Then PNB will pay back the foreign bank saying okay, we got the customer’s money so we’re giving it back to you. With interest etc.
That’s what is supposed to happen. But in reality, things went a little berserk, it seems.
In reality is a bit of Ponzi.
NM might not pay back at all. NM might use the money to speculate in the markets. Or do something else.
What if NM in the above example simply didn’t have the money to pay back? Instead, he asks a PNB official to open another LoU. For the amount owed plus interest. So, if we had the first LoU at $10 million the second one is $11 million to cover the interest on the first.
The money from the second LoU is used to repay the first. It’s just rolling over of credit. Over and over. Standard definition of a ponzi scheme.
This can easily balloon into a larger amount, so large that it’s too much. In effect many such arrangements have turned into semi-ponzi schemes, with one LoU being opened to repay another and so on.
Which is what is likely to have happened.
It looks like ::Nirav Modi took loans from foreign branches of Indian banks through an LoU issued by PNB.
This was done through a SWIFT based LoU issued through a rogue employee (or many of them) at PNB with the patronage of some well placed politician in higher position.
The orders never showed up in the core banking system for monitoring.
LoUs were rolled over all the way since 2011 and possibly increased over time too.
The congress party is blaming BJP for the escape of Nirav Modi though the game was started in its regime. However, something is fishy in BJP echelons as well, since the escape was swift like that of Mallya, Lalit Modi and Jatin Mehta.
The rogue official retired in 2017 and the replacement refused to roll over the LoU which became due on Jan, 2018 because he couldn’t find the past transactions in the system.
No rollover means a default, since there was no money to pay. So, PNB quickly files an FIR saying oh goodness we have lost 280 crore. on the Jan. LoUs
Then someone questioned, is there more of these not-in-system LoUs!? Someone check no?”
At this stage someone checked and found discrepancies. The sum involved was whopping Rs. 11,400 crores & this created panic.
Why couldn’t Nirav Modi just pay it back? He must have the original money. No?
Because if it was never intended to be paid back, the rollovers wouldn’t have been required. At some point, things got so out of hand that rollovers were required in order to stay current.
Typically this would not be a problem. If PNB had done things right, they would have had collateral worth the amount of guarantee and they would have sold that collateral and paid the foreign bank.
Here’s the real issue ::  PNB didn’t have any collateral. Why did PNB give a guarantee without collateral?
If one approaches the bank for a loan, it will ask him for income proof and collateral. Only small tiny personal loans and credit card loans may come backed without collateral. For loan worth Rs.11,000 crore,  collateral are a must.
Especially after the scene with Mallya where loans to Kingfisher were given on nearly no collateral (though even there they had a house and some promoter shares pledged).
Why did PNB give this guarantee then? It’s typical, banks give guarantees for more the amount pledged as collateral. Because business relationships etc. 
And then :: Because nearly every bank is doing it.
The loan was not a “fund based limit”. In a fund based limit like a term loan, the bank pays out money. In non fund based limits, the bank will only pay if someone else defaults or an event happens, like a Bank Guarantee or an LC or an LoU.
Meaning, PNB assumed that the foreign bank was giving a loan directly to Nirav Modi and that PNB needed to pay only in case Nirav Modi defaulted. So, in the eyes of PNB it was always an “Non Fund Based” loan.
But this is how a significant part of import financing works. They all rollover credit and they all use LoUs for much higher than they can offer as collateral.
From my sources, the scale is huge. For every Rs.100 that a bank has collateral, they will easily provide LOUs for up to 6 times its value. This is a real problem that most public sector banks do not keep much collateral against non-fund-based limits given to importing customers. Who so ever drafted rules, left loop holes for such large scale frauds, may be intentionally at the behest of political bosses.
So, even if a bank has collateral, it’s nowhere near enough. And then, such unfunded liabilities are not even reported to RBI! 
Internationally agreed set of measures-norms, developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09 were intentionally ignored.
PNB has “unfunded” exposure of Rs.11,000 crore, they say. But they don’t even reveal it in their latest Basel III disclosure :- The funded exposure to “Gems and Jewellery” is shown at Rs.1860 crore only.
Unfunded to the same sector: Rs.842 crore.
This doesn’t even add up. So, in effect, PNB didn’t reveal that it was funding massive quantities of “unfunded, contingent exposure”. They will of course pretend that they didn’t know, because the transactions weren’t in the core banking system.
Did Employees Hide it? Was PNB Responsible or was it a fraud?
Can employees be responsible? Could they have hidden the credit and the rolling over of LoUs? But honestly, how does a Rs.11,000 crore credit pass muster without top management realizing it?
Nostro account with these other banks keeps getting big credits that add up to Rs.11,000 crore Will it not be not reconciled in the accounting? The “why is this money even here?” Question should have been asked by someone who audits accounts, one thinks?
And the SWIFT messages. It’s a specific kind of message. Why wouldn’t PNB audit the SWIFT trail? Reconcile it with the core banking system? How many more such skeletons will tumble if they do?
Their excuses are ::
Data wasn’t entered into the core banking system. (Of course, otherwise it would have to be reported.)
LOUs weren’t authorised. (Hard to believe, because the amounts are very large. Surely, someone on the top would know?)
The SWIFT system was illegally used. (Again, hard to believe that a bank like PNB would not audit its SWIFT messages regularly. Or its auditors. Or RBI.)
On the face of it, it looks like the ex-employee is being used as a scapegoat. It’s likely that a lot of people were in on this thing. And that it generated massive, fat fees for PNB all these years.
Fees wise: Imagine Rs.11,000 crore worth LoUs being renewed each year-that’s up to Rs. 200 crore in fees that was all hitting PNB’s top line. One could bribe an employee to maybe give a small increase, say 10-20 crore, but when it hit numbers like Rs.11,000 crore this is surely something the top management would know.
What’s the Scale of this scam?
While PNB reported it as a Rs.11,000 crore scam, they filed an FIR with the CBI for only Rs. 280 crore. This has probably expanded since then but even if the total outstanding is as much as that, there’s a good chance that the actual loss amount will be lesser.
All of it will be borne by PNB right now. Whether someone abused their SWIFT usage is not relevant, if PNB’s SWIFT message said they will pay, they have to pay if there is a default.
But think about the fallout. The problem was that some liabilities were not in the system. There could be more such LoUs. From the same branch or others. Other banks could have such LoUs too. It’s trivial to start looking and every one know that Nirav Modi will not be an isolated case.
Also, the issue was that the limits had no collateral behind them. If all banks are told to verify their non fund based limits and demand collateral against them (say at least 25%) then the scale would be absolutely massive. It’s not like this is happening only with Nirav Modi, Jatin Mehta or Choksi. A very large number of importers of commodities have been doing this and rotating credit. A change in regulation here can change the game dramatically for every other bank (and import account) in the system.
The simple point: This particular transaction will result in a lower loss than Rs.11,000 crore for PNB. Because of recoveries and such. But, if RBI asks all banks to pull up collateral on such lending and stop such practices, the scale is many times larger.
What about the PNB stock?
It’s fallen 17%. But note that it already has Rs.60,000 crore of gross NPAs. Another Rs. 11,000 crore will hurt it but not kill it. It won’t die, the government will take it over. Shareholders might suffer, but come on as a shareholder of a public sector bank one is used to suffering.
The problem really is: There is never just one cockroach. When one goes deeper, he likely to find more dirty, dark secrets and none of them will be any good.
PNB is gonna hurt for a while, but so are others who will find their books similarly tarnished once they investigate.
Will this bring the market down?
Has one been living under a rock? Nothing will ever bring the market down, nowadays.
But the one thing that does bring markets down is the outflow of liquidity. What if so much of the “ponzi” credit, essentially money that was rolled over very month, is being invested directly or indirectly, into stocks? If RBI tightens up, liquidity will pull money out of stocks, and that will hurt.
Of course, this hurts the fiscal deficit since PNB has to be rescued. So, bond yields are up to 7.6% and therefore one would avoid any long term funds or bonds. Short term it will have to be.
But overall, one wouldn’t worry too much. Just react, don’t predict. What would one do if stocks fell? Better to answer that than to say they will or they will not.
How can one has transactions on SWIFT outside CBS? Fix it.
Why would one not reconcile the nostro accounts? Suspend the auditors. Fire top management. Fix it. Issue non bailable warrens and conclude the case in a very short life span i.e., before next Lok Sabha elections.
Closing the door behind Modi, who’s already left the country, is probably useless. If one find fraud,  invoke their personal guarantees and file cases to attach their personal properties. After that, file in NCLT to make these companies insolvent. Take the hit and try to recover. Recovery is not difficult if strong political will and desire is there.
Find out more such instances where collateral cover is too low. Find out if the LoUs or LCs are just getting rolled over or is the customer actually paying back through the Indian current account. And if not, demand more collateral to avoid further spread of the ponzi.


But this is quite unlikely to happen because the banking system is going to take massive hits now and the country-tax payers have to face with the fallout of really horrible systems. It’s amazing that Indian banks have been this lax, but they have been allowed to; with no bankers being investigated, the rot inside the banks has been ignored and instead, industrialists have been the target of outrage. It’s time to look at banks as malicious players too and to fix that rot.
Modi government is soft to the industrialists. The black sheep would never let the real culprits exposed, arrested and imprisoned.
(92). MYTH OVER TAX PAYERS IN INDIA :: Here is the data compiled by a Chartered Accountants'Company Secretaries and other professional bodies and groups. The Finance Minister said during his budget speech that we are largely a tax non-compliant society and presented that only 3.7 crores individuals are  filing ITRs in this poor country of 125 crore population.
India has 82 crore voters out of which, 75% are agriculturists  i.e., 61.5 crores who have been exempted by subsequent governments straightaway, but they can also buy cars, have palatial bungalows and large tracks of farm land, like Sharad Pawar and Prash Singh Badal. Most of the politicians own farm land to evade tax.
Balance remains = 20.5 crores. 
Less: 24% BPL class (Below poverty line and still having huge incomes) which means that 15 crore population which is non agriculturist and non BPL.
Less: Senior Citizens, Non working wives, unemployed youths, below-taxable income earners, political class (say 75%) in a typical Indian family only 1 earning member and 5 to 6 are dependent on him.
Balance: (15-11.25)=3.75 crores is the earning class, which can file ITRs and they are already filing it.
So almost no gap as FM  is stressing unnecessarily without knowing his country.
If the FM wants more people to come into tax net, then instead of foolish unplanned rampant raids, surveys, notices, scrutiny,  demonetisation etc. etc. viewed as tax terrorism, he should defy his negative bureaucrats with negative attitude.
The government should levy Income Tax on Agricultural Income on large landlords (Say 10 Acres plus) at the rate of at least 30%. Do not tax senior citizens and pensioners.
As on today, 3.3% of Indian population is filing ITRs as compared to 8% of China. Adding large agriculturists to Income Tax may shoot the figure to more than 10% & may help government attain its targets in planned manner without delay giving it a political mileage over previous corrupt congress.[05.02.2018]
(91). FALSEHOOD :: Japanese economy is considered weak, even collapsing, since they have started ignoring agriculture and pay more attention to industry, bushiness. Japanese save a lot but do not spend liberally. Japan exports far more than it imports.  It has an annual trade surplus of over 100 billion. 
Americans spend a lot and save little. US imports more than it exports. It has an annual trade deficit of over $400 billion. Yet, the American economy is considered strong and trusted to get stronger. Americans get money to spend? They borrow from Japan, China and even India. Others save for the US to spend. Global savings are mostly invested in US, in dollars.
India itself keeps its foreign currency assets of over $50 billion in US securities. China has sunk over $160 billion in US securities. Japan's stakes in US securities is in trillions.
As a result of it US has taken over $5 trillion from the world. So, as the world saves for the US. It's The Americans who spend freely. Today, to keep the US consumption going, that is for the US economy to work, other countries have to remit $180 billion every quarter, which is $2 billion a day, to the US!
Who has invested more, US in China or China in US? The US has invested in China less than half of what China has invested in US. The same is the case with India. It have invested in US over $50 billion. But the US has invested less than $20 billion in India.
American hardly save & use their credit cards to spend their future income. Spending by the Americans makes it attractive to export to the US. So, US imports more than what it exports year after year.
As a result of it, the world is dependent on US consumption for its growth. By its deepening culture of consumption, the US has habituated the world to feed on US consumption. But as the US needs money to finance its consumption, the world provides the money.
One should be aware that sooner or later American economy is bound to collapse. It has been under clouds several times. To save its own skin, US keeps conspiring to destabilise the economies world over.
ANCIENT HINDU-INDIAN SYSTEM ADVOCATES 1/6 SAVINGS OF THE ACTUAL EARNINGS TO FINANCE IN FUTURE. THE GROWTH FIGURES OF SEVERAL COUNTRIES ARE FICTITIOUS AND MISLEADING. YOUR GROWTH MAY BE SLOW BUT IT SHOULD BE STEADY. BOTH CHINA & AMERICA ARE SURE TO COLLAPSE ONE DAY.
(90). DIGITAL TRANSACTIONS :: Digital transactions invite various types of avoidable services charges and taxes. A Re. 100 note will have the same value in spite of numerous cash transactions, but it will invite 2.5% commission to service providers like paytm or Jio Money etc., benefiting them with each and every transaction.              
Debit Cards charge between 0.5% to 1% to the retailer or money receiver for every transaction.
Credit Cards charge between 1.5%-2.5% to the retailer of the money receiver for every transaction.
Paytm, Free charge or Jio Money and other E-wallets charger 2.5%-3.5%, when one want to transfer his e-wallet money into his bank a/c.
RBI data shows that every month around 2.25 Lakh crore; Annually Rs 25 -30 Lakh crores is withdrawn through ATM's across India. And it is estimated that along with bank withdrawals, a total of Rs. 75 Lakh crore is withdrawn from both banks and ATMs on a yearly basis. All this is accounted, tax-payed money, which is withdrawn from banks. Currently, just 3% of transactions are in electronic mode.
If this Rs.75 Lakh crore is converted into a cashless economy, the companies will earn at least Rs. 75 Lakh crores times 2% average, on an average of Rs 1.5 Lakh crore per year. 
It clearly shows that some one in the government is hand in globe with the corporate houses at the risk-cost of poor and middle class. It is a fall lout of Demonetisation meant to curb black money.
Majority of the Indians are poor and keep their hard earned money in the banks just to earn some interest and utilise the money at a time need, children's education, building a house or marry their daughters. The banks offer credit to the people like Vijay Mallya for betting from the money earned through small deposits made by the poor.
(89). FOREIGN EXCHANGE :: One has to visit his family abroad. He is compelled to buy foreign exchange. The banks are just paying Rs. 46/= when they buy and charge Rs.50.50 when they sell, for one Australian dollar. Now, you are here in Sydney and see that the bananas, which are available for Rs. 50 per dozen around, 2 Kg. in weight, are available for 3.40 dollars per Kg. in whole sale market. Tomato 10 dollar per kg. in Australia, while in India price is Rs. 20 per kg. Ginger sells at 15 dollars per kg. in Australia while it sells for Rs.30 per kg. in India.The difference is astronomical. Except for a few commodities, this is the case with almost every commodity. It reflects unreal prices and manipulated exchange rate. As a matter of fact almost all mercantile are cheaper in India than Europe, America and Australia. One had almost the same experience in America. In India, the markets are rigged and the producer & the manufacturer are looted. Almost every saleable good is under the controlled price regime! None of the theories propounded and taught by the so called economists, explain this. The demand and supply mechanism fails when the onion bought for fifty paise per kilo in Nasik or Indore is sold for Rs. 20 per kilo in Noida-Delhi-NCR. People prefer trading due to this reason, only. The markets are flooded with Chinese inferior goods. There was a time when Indian goods fetched a premium in entire Europe.[05.06.2017]
(88). Air India has mounted losses and debt of more than Rs. 46,000 crores despite several the write-offs and is still existing, serving the VIP's, MP's, ministers at the coast exchequer, tax payer. Former prime minister utilized its services and dues are still to be cleared by the government. Modi too enjoyed the privilege and the mounted losses continue to soar. Why can't the government use air force planes for serving the prime ministers?! The legacy of Nehru and the communists of Russia is still haunting the country.[14.05.2017]
The government should consider the sale of AIR INDIA as early as possible. Inefficiency, corruption, poor services, delay and unfriendly staff are the common features of this sagging air line. During previous regime a scandal took place in the purchase of air crafts amounting to 70,000 crores.[05.06.2017]
FAILURE OF THE THEORIES OF ECONOMICS :: 
(1). India has witnessed a peculiar situation of high prices in spite of bumper crops. It had been happening with respect to onion, sugar, tomato and potato earlier. Now, it can be found in case of pulses, wheat flour, wheat, gram etc. The vegetables are selling between Re. one and 1/2 rupee in the whole sale Mandi-market, but the prices are near Rs. 20 and above for each and every vegetable. The farmers are found unloading their vegetables over the road or distributing them free. There is glut. All theories of economics Monopoly, Duopoly & even Oligopoly fail to explain this phenomenon. Last year there were plenty of stocks of pulses like Arhar-Tur Dal and yet it started sky rocketing suddenly, touching the peak prices of Rs. 200 per kg. Government opened imports with reduced import duty and the prices have crashed to Rs. 50 per kg now. This month the prices of sugar are rising steadily and have touched Rs. 55 per kg during the sugar season.
The government is silent over the issue and comes into play only when situation goes out of control.The Minister for food and civil supply is from another associate party (संयुक्त  दल) who led to the fall of government under Atal, earlier. 
The government has support prices for each and every category of farm produce in India. The MP government abandoned this practice of buying onion at Rs. 6 per kg support price.These support prices too hinder with the free market mechanism. There are imports of farm produce, when they are not at all needed. The government allows the export when the prices have started rising. The government is unable to save-protect its buffer stocks from pests, rains, floods. The mechanism of food subsidy often interfere with the free market. Subsidised merchandise is diverted to open market by the unscrupulous-fraudulent traders.
Earlier, when Sharad Pawar was a minister in UPA government he announced that the prices of sugar could rise and over night the prices escalated to Rs.44 per kg from existing Rs. 28 per kg in retail market.
Mother dairy is playing a dubious role in the unreasonable prices of vegetables and milk. Local vendors take the prices fixed by it which are often twice or trice the whole sale market in Delhi and four to five times the prices in Nasik Mandi. During November-December one had a chance to visit Big Bazaar and there was a big surprise pertaining to potato pricing. It was selling nearly double the rates of retail market in Noida. Mother has failed to maintain standards pertaining to maintenance of its outlets and quality of vegetables, it sells. Generally, the prices of vegetables are 30-40% higher than the retail market. If there is scarcity then how and why are there hundreds of sellers selling the same commodity at escalated prices!? The Saturday vegetable market has 10-15 stalls selling same commodities, which clearing points to rigging and manipulation of prices.
The government wakes up and comes into action only when the prices have shot up and the hoarders have made huge gains. The mechanism for stocking and storing is dubious-doubtful and undefined. The stock limits are fixed arbitrarily & unreasonably. The government is run by so called economists like Man Mohan or Jaitly. [30.01. 2017]
(2). So called economists like Man Mohan Singh & Amarty Sen; who called demonetisation as a disastrous step, have been proved wrong. Opinions expressed by the world bank and international rating agencies have also been rejected by the Indian population. The present growth rate standing at 7% is a proof of it. Some biased critics called the 7% growth rate as a manipulated one. If it was manipulated then the projections made by the previous UPA governments over the years, were certainly false-fraudulant and crooked. Stupids like Rahul have their voice against it due to the obvious reason-staked black money. Mamta's guns have fallen silent now, but Maya is still crying foul though she has been caught red handed depositing millions of illicit-black money in banks.[05.03.2017]
(86). During the UPA's tenure Adani and Ambani's Reliance were granted loans worth Rs. 72,000 crore & Rs.1,13,000 crore, respectively. The process of the recovery of these huge loans started during the tenure of Modi, only. It was Congress which distributed loans not to be recovered back, to its stooges. Mallya and Lalit Modi too were the beneficiaries of the Congress hospitality due to obvious reasons. What is curious is that till today no one is blaming Man Mohan for the frauds, bungling, misappropriations, scandles!? If the person who headed the government was not guilty-responsible, then who is guilty? Man Mohan is a coward pet of the Sonia-Rahul combine. He should be held solely guilty for all the misdeeds of congress. One who should have been in the prison, dares nasty speeches in parliament.[24.12.2016]
(85). CHARITABLE TRUSTS HOLDING BUSINESS EMPIRES FOR PROFIT :: There are several charitable trusts which are controlling large business empires like Tata & Birla. There is no logic or ethics involved in permitting such a proposition in India or else where. The basic objection is misuse of tax-exempt status-clauses.The laws needs immediate redefining.[18.12.2016]
(84). EXISTENCE OF PARALLEL ECONOMY IN INDIA :: After demonetisation there are cases of return of labours to there villages-roots, lack of business, falling vegetable prices, large scale diversion of new currency notes to hawala dealers, black marketers, gold smiths, hoarders, criminals and with those who have a political clout-influence-connection, brokers etc. Prices of pulses have stabilised temporarily. But the existence of long ques at the ATMs and failure to tender new currency, clearly shows that the new currency is being diverted to those who runs parallel economy in India and else where, with connections in India. The governments bid to popularise digital payments lacks proper timing & educating the masses. When the masses are hungry over cash for their petty needs, the timing is improper and ill conceived. This clearly shows failure of finance ministry, banks and the Babudom to ensure smooth transition. 90% of Indians are functionally illiterate with the use of electronic appliances viz. laptops, internet, debit cards-credit cards, online payments and thousands of functions over mobile. More than 60% Indians are functionally illiterate. Its not possible to curtail the enthusiasm with which Modi implemented the drive. As soon as one hole is plugged, hundreds new ones open up. Even the policemen are in league with the currency cartels-mafia.Will the government act to check this menace of parallel economy?![09.12.2016]
(84.1). It is the pay back time for those corrupt bank-post office officials, who were appointed during the corrupt Congress regime. They have obliged their former bosses by accepting old currency notes and issuing new ones, without proper proof-authentication. The RBI should ask the details of each and every transaction made in the conversion of old notes, since each and every one had to give his identity proof. Modi should take into account overtures of Mamta & Kejriwal since they are making too much noise, sitting over the black money piles.[02.12.2016]

(84.2). On 16.12.2016 one had to visit NDMC HQ and found that the 4 ATM's operating in Regal building did not have more than 9 people in any of the ques. Then, there were Allahabad Bank and SBI in the neighbourhood  of NDMC HI, having no ques. There is a post office in one's neighbourhood and there were hardly 5 customers and it took hardly 5 minutes to withdraw cash. However the Citizen's Cooperative Bank in front of the house is not able to render money. One was forced to transfer money to Post Office. It appears that the public is suffering from a phobia-impatience and the opposition parties along with the corrupt, too are sponsoring long ques, to obstruct Modi to function smoothly.[18.12.2016]
(83). Traders, black marketers, hoarders are unwilling to change Rs.2,000 note. One can not buy grossery, milk, vegetables for non availability of small currency notes. The house wife who used to save (कोरचा करती थी, घर वाले, बच्चों से छुपाकर बुरे वक्त के लिए रखती थी) for difficult times is forced to put her money in the bank. Those who had money in the house for medical treatment are also forced to make deposit in the bank. The children who migrated abroad and left some money for their parents, too are facing distress. New methods are being invented by the hawala operators.The genuine saver too is under stress. Rs. 500 notes are not visible in the market or the ATMs. Banks too force people to accept Rs. 2,000 notes.No doubt, use of internet & mobile is increasing but what about those who passed class 8 and are still unable to read or write!?In spite of extremely good intentions Modi model failed provide relief to the common men. AAM ADMI-KEJRIWAL IS VERY SAD SINCE HIS 200 CRORE ARE JUST GOING TO BE WIPED OFF.[3011.2016]
(82.1). नोटबंदी से लेबर के अच्छे दिन आ गये हैं; बल्ले-बल्ले हो गई है। ठेकेदार 50 आदमी सप्लाई करने का 500 रुपये हर आदमी के हिसाब से ले रहे हैं। लेबर काम पे ना  जाकर लाइन में जाकर बैठ रही है। उनकी औरतें भी यही कर रहीं हैं। लाइन में अपना नम्बर छोड़ने के मजदूर 300 रुपये ले रहे हैं।  दूर-दूर तक पढ़े-लिखे लाइन में नहीं दिख रहे हैं। बंगाल में शारदा घुटाले की रकम जन-धन में जमा हो रही है। ममता ने गरीब के साथ बड़ी ममता दिखाई है। कर्नाटक की काँग्रेस भी पीछे  नहीं है। जन-धन खातों में 21,000 हज़ार करोड़ से ज्यादा जमा हो चुका है। यह पैसा पहले कहाँ था?!सारे घोटालेबाज़ खुल के मोदी के सामने आ गये हैं। हर वो आदमी जो नोटबंदी के खिलाभ है, घोटालेबाज़, कालाबाजरी, काली कमाई वाला है, खुलके सामने आ गया है।
(82.2). बैंक के चपरासी से लेकर मैनेजर तक, सबके अच्छे दिन आ गये हैं। 10% से लेकर 50% तक लेकर काली कमाई सफेद कर रहे हैं। पब्लिक जाये भाड़ में। [24.11.2016]
(78). BLACK MONEY :: Modi government has with drawn Rs. 500 & Rs. 1,000 currency notes in its bid to recover black money & to curb (नियंत्रण) the menace of IFCN-Indian Fake Currency Notes.
(78.1).One found serpentine ques of the people waiting to exchange old notes out sides the banks and post office which did not sufficient notes to change. The banks lowered their shutters much before 5 PM.
(78.2).It is surprising that most of those standing in ques are labourers or low earning people. Where have they brought so much money in high denominations?! Why did they not deposit the money in banks or post offices?!
(78.3).The factory owners have deputed their staff to go the banks & post offices with old notes to exchange.Some factory owners have become liberal by giving bonus to the employees in the form of these notes as bonus.
(78.4).Their numerous instances where notes were found spreading in drains. Gunny bags full of notes, cut into small pieces have been found on the roads. 
(78.5).There are instances where the notes are being burnt.
(78.6).People like Kejriwal, Maya, congressmen,  Owaisi are criticising the government action since they have trillions of such currency notes. Owaisi is threatening the government of creating riots all over the country clearing the suspicion that he is an anti national.
(78.7). Huge sums of money are being deposited by the unknown people in dead accounts accounts. [13.11.2016]
(78.8). Black money is stashed up not only in Swiss banks, but also in the cooperative banks in Kerala. The Income Tax department discovered that the cooperative banks held black money to the tune of Rs 30,000 crore in their accounts. The cooperative banks had refused to divulge the details of these account-holders to the department. Under Kozhikode circle, the department has seized about Rs. 150 crore black money this year.
(78.9). SARADHA SCAM-PONZI DEAL money remained undigested by the scamsters (घोटालेबाज) under the patronage of Mamta. She utilized some of it for buying votes in the state elections. Millions are pouring out in remote villages in Bangal. She along with Kejriwal is crying bitterly.[13.11.2016]
(78.10). Builders are not willing to change. They are demanding cash along with cheques. You know that they do not issue receipts for cash. The clerks in the registrars office, too do not issue receipts for the extra money collected by them at the time of registration of the property. The senior most officials in the district discard the proofs saying that the booty goes to the uppermost level in the state. Almost everyone in opposition; is opposing Modi for this right step enjoying vide public support, due to obvious reasons. People have already started printing fake Rs. 2,000 notes. Pakistan has already taken steps to ensure that IFCN are printed in Pakistan and circulated in India through ISI net work. It has provided an opportunity to Mamta and the communists come over the same platform while Maya & Mulayam too are trying speak in the same voice-tone.[14.11.2016]
(78.11).There are the people who have been hired for standing in the ques for exchanging notes either on commission or daily wages basis.[15.11.2016]
(78.12). Money is pouring into dead-inoperative Jan-Dhan accounts, municipalities and the cooperative banks. People are using black money to pay taxes now. Cooperative banks are issuing fixed deposit receipts and demand drafts in back date and are engaged in money laundering business in addition to some private banks. Several banks like ICICI, HDFC and AXIS are found converting black money into white, through innovative means. Children below 16 are seen with photocopies of their ID standing in the queues for exchanging notes.[17.11.2016]
(78.13). BITCOINS (अंकीय मुद्रा) :: This is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. It has become a hot commodity among speculators-black money generators. 
Bitcoins free
The "Bitcoin" represents the virtual currency system while "bitcoin" represent the currency it self, which can be bought online, transferred or stored. 
This cryptocurrency and a payment system was invented by an unidentified group of programmers, under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list and released as open-source software in 2009. The transactions take place between users directly, without an intermediary. Its digital login-transactions are verified by network nodes and recorded in a public distributed ledger called the block chain, which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorises bitcoin as a decentralised virtual currency. 
In February 2015, the number of merchants accepting bitcoin for products and services passed 100,000. The central banks have warned the public against the use of bitcoins.The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or charge backs. The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement and media. Criminal activities are primarily focused on dark net markets and theft. Officials in countries like United States  recognise bitcoin as an alternate mode of  legitimate financial services.
The "block chain" is a public ledger that records bitcoin transactions. A novel solution accomplishes this without any trusted central authority. Maintenance of the block chain is performed by a network of communicating nodes running bitcoin software.Transactions of the form payer X, sends Y bitcoins, to payee Z which are broadcast to this network using readily available software applications. Network nodes can validate transactions, add them to their copy of the ledger and then broadcast these ledger additions to other nodes. The block chain is a distributed database to achieve independent verification of the chain of ownership of any and every bitcoin (amount), each network node stores its own copy of the block chain. Approximately six times per hour, a new group of accepted transactions, a block, is created, added to the block chain and quickly published to all nodes. This allows bitcoin software to determine when a particular bitcoin amount has been spent, which is necessary in order to prevent double-spending in an environment without central oversight. Whereas a conventional ledger records the transfers of actual bills or promissory notes that exist apart from it, the block chain is the only place that bitcoins can be said to exist in the form of unspent outputs of transactions.
More & more Indians are taking to this system after Note Bandi. They are using the system for hawala transactions and generation of black money. Criminals, corrupt politicians & bureaucrats too are using the system.[06.01.2017]
(79). The government has trillions in the inoperative EPF/PPF accounts.The employees could not withdraw money since the signatory was dead/resigned from service, not available due to the closer of the company or some other reasons, one of which is termination from service and the employers desire to trouble-torture the ex-employee. The government has all the necessary information like the residential address, phone number, bank accounts numbers, PAN card etc. of the beneficiaries but still it is in no mood to refund the money.
आम आदमी पार्टी विधायक करतार सिंह तनवर के पास से, करीब 130 करोड़ की ऐसी आय और इन्वेस्टमेंट को पकड़ा गया है; जिसका कोई हिसाब-किताब  मौजूद नहीं है।
नोटबंदी के फैसले के बाद हवाला कारोबार में 80% तक गिरावट आ गई है। इंटेलिजेंस ब्यूरो (IB) के मुताबिक 3 दिनों के भीतर खाड़ी देशों और कश्मीर घाटी के बीच एक भी हवाला ट्रांजैक्शन सामने नहीं आया है। रिपोर्ट बताती है कि ब्लैक मनी बाहर लाने के लिए नोटबंदी का फैसला असर दिखा रहा है। अंडरग्राउंड हुए हवाला ऑपरेटर्स अंडरग्रॉउंड हो गये हैं। [17.11.2016]
(80). BENEFITS OF CURRENT PHASE OF DEMONETISATION ::
(80.1). Considerable amount of fake currency will be out of circulation in one stroke. This is probably one of the greatest change that is taking place. This is exactly the reason behind this uproar, this madness from media and politicians, of course they are supported and backed by anti Indian forces. Leaders & economists all over the world including Pervez Musharraf of Pakistan have praised this bold step.
(80.2). Cash to create chaos and terror lying with terrorists, Maoists, Naxalites, Jihadist gone waste.
(80.3). Hawala sources dried up for funding of terrorists, Maoists, Naxalites, conversion lobby and Jihadist. There is a considerable decrease of violence in Kashmir after this decision. Once the funding stopped, there wont be any riots in the valley and the country is already witnessing the live effect.
(80.4). Kashmir is back to normal, schools are opened, normalcy in the valley, no schools burnt, one has not noticed stone pelters these days.
(80.5). Banks have started mobile ATMs for Hospitals. Post offices are supplying cash to patients in hospitals.
(80.6). Jan Dhan accounts are fulled with money, Government started this scheme for financial inclusion purpose, but people were reluctant to keep money in the bank, but after demonetisation started, citizens are ready to come back to the banking network and thereby our banking system strengthened, citizens will be the beneficiaries of financial inclusion. There are thousands accounts which were inoperative earlier for years have become operational due to the influx of black money in these accounts by some one else.
(80.7). 55 Lakh money disputes settled in one day in Lok Adalats.
(8). According to State Bank of India more than 3 Lakh crore money, already deposited in the banks.
(80.9). All business men are depositing cash lying with them as current year income with ADVANCE TAX.
(80.10). All jewellers are being issued forms to declare their GOLD stock on day to day basis.
(80.11). Defaulters of bank, property tax, electricity bills, telecom bills are clearing their long pending bills.
(80.12). Defaulters of all kind of taxes are clearing their dues.
(80.13). Small vendors started going digital and already using APPS, digital forms of transactions and digital wallets.
(80.14). Fiscal deficit of INDIA IS SET TO BE REDUCED.
(80.15). Business men are declaring their black money as income and paying advance tax. There are some examples in the recent days as many of them are coming forward and declaring cash lying with them as black money and paying taxes.
(81). Demonetisation has left the NRI dried up and shocked. Those who had kept 10-20 Lakh hard earned genuine legal tenders in lockers for lean season and enjoy at the time of their visit, are bound to suffer.
(1). One who dies without servicing the loan with the intention of not repaying it, goes to the hells and get birth on earth, as load carrying animals, like Yak, Mule, Ox, Camel, Elephant, Horse, Ass etc.
(2). Rupees 5,000 loan given to two brothers in Buland Shahr around 1950 could not be serviced due to the untimely death of the borrowers. One, who gave loan in faith, was not educated. He knew Mundi (-मुंडी, Gurmukhi, गुरमुखि, a script close to Punjabi language spoken in Punjab India); to write the general details of the borrowers.
(3). UP government is pushing the idea of forfeiting the loans up to Rupees 50,000, to the farmers, who paid 10% of it. This is against the principle of natural justice, arbitrary, unjustified and sending the message to all those who take loans and not to repay. This is nothing more than a political ploy-gimmick and wastage of tax payer’s money, by the immature and potentially corrupt political bosses.
(4). Credit Cards are issued to any one, for asking by the banks. People manage to obtain such cards on the strength of fake-manipulated documents. After making purchases they vanish in thin air. In fact the banks try their level best to lure ungullible-unsuspecting simple people to obtain these cards, to repent later. It has been calculated that the interest rate comes to 47% at times, making it the costliest commodity, one ever possessed.
(5). Housing loans are easily available these days on fixed as well as floating rates of interest. The banks, housing loan companies charge the consumer in multiple ways. They have devised many hidden clauses to fool the loan seeker, like file charges, prepayment charges, charges for switching over from floating to fixed rate and vice a versa. They make you pay for insurance etc. even though, it’s not essential.
(6). Loans are given for buying cars. People rush to seek these loans as soon as they feel that they can the loans. The buy the car but fail to repay the loans due to one or the other reason. Now the bank puts goons in to service to take their money back through dubious means. They do not mind snatching the car from you. Smart people seek car loans with the help of fake documents in connivance of the bank staff and disappear with the car. Generally people sell the car and file theft report to claim insurance. The liability is reduced, as per their thinking.
(7). Big companies seek loans from finance companies and banks not to return. There are thousands of such companies in India. Connivance of the bank staff, politicians and police is clear behind such deals. The company goes to BIFR after showing mounting losses.
(8). DMRC and Nizamuddin Bridge over Yamuna River forming NH 24 have been built with the soft loans obtained from Japan. It’s the duty of the government, to make sincere efforts to return money.
(90. At one occasion the Government of India had to pledge-mortgage its entire gold deposited with the Britishers. One can imagine how the successive governments have been functioning in India.
(10). The country is reeling under debt burden. Common man can never service the external debt, in his entire life time. Successive governments continue accepting debt from monetary institutions, World banks, Governments without making serious efforts for debt repayment. This reduces the value of Indian currency in addition to lowering its prestige.
(11). Even the US Government resort to borrowing, which is believed to be the most advanced economy of the world! Isn't it? US government tax the common man heavily, whiles the MNCs operating through US escape the dragnet of tax through loop holes!
(12). Worldwide recession saw the Germans carrying gunny bags loaded with Marks-currency notes, to buy bread. Majority of companies resort to dubious technique of "buy now pay later" , making them earn through the ignorance of the buyer, through the nose heavily, by way of interest. They do not mind dumping their obsolete products in developing countries like India. They never transfer the latest-advanced technology to the developing-third world countries. Russia always supplied discarded obsolete technology to Indians.
(13). Quality of cars sold by the same company in India and US is different. Product sold in US is definitely better than that, sold in India.
(14). Rates of interest in India are more as compared to the prevailing in US. At one point of time banks in India paid 13% on fixed deposits, during congress rule. The BJP led NDA government snatched the meagre earning a poor was making through deposits in banks by reducing the bank rates. No doubt it favoured the industrialist-borrowers, including those who resort to borrowing but do not intend to return it. Just find the collusion between the bankers-politicians-industrialists-bureaucratises-judiciary and the police. Money is never recovered.
(15). One after another country is failing to deliver to the common man. They are not able to control spiralling prices and debt burden over the country, under the expectation of writing off the loans as bad-unrecoverable loans. Where this money does go to?! Obviously in the pockets of those, who are governing the country-the rulers-who else?! 
(16). There are thousands of fly by night companies which are operating with the active collusion of political-bureaucratic-police nexus fleecing the poor of his hard earn money. The king of Ponzi companies is daring the Supreme Court to take action against him. These are the people who lure the poor-middle class people to put their hard earned money in the chit-fund companies by offering unrealistic rates of interest followed by turmoil-tears-suicides.
(17). Every 10 years the government appointments pay commission to review the salary of its staff which is always underpaid, as compared to the private sector and overburdened with work, pertains to election duties-census-adhar card issuance etc. etc. Every 6 months, it is compelled to revise dearness allowance to the spiralling price rise. The root cause of which is the import of petroleum products and enormous taxation over it by the government. The government will have to spend an extra 11,000 crores and sell off its shares in many profit making public sector companies. The media paints a rosy picture and presents it in such a way that prices start spiralling-escalating-scaling peaks again. 
(18). Inside trading, rigging-manipulation is common at the stock exchange. Brokers, FIIs-Foreign Institutional investors, Company employees, financial companies are always willing to destabilise the stock market for bountiful-windfall gains. Millions of people have lost their life's savings in this gamble. There are the companies who are unnecessarily after the blood of the people, who own one or the other non-performing shares, in the name of keeping their accounts, even after the investor, after clearing their dues asks them not to do anything for him in future. They do not mind sending them legal notices as well.
(19). At least 5 banks [Barclay's, Deutsche Bank AG, HSBC Holding Plc., Bank of Nova Scotia and Societe General SA] of England are found to have rigged the prices of gold creating artificial scarcity, all over the world. Wide fluctuations in the most sought after commodity, the world over were observed.
(20). Indian bureaucracy is notorious-red tape, is always willing to put hurdles in the path of manufacturing goods, starting a business. One has to obtain 70 clearances for starting a business, in the name of environment.
PONZI KING-BANDIT QUEEN :: Before elections in Bangal suddenly the maids started moving to Bangal to cast their vote. It was really curious for a maid to spend a lot of money and time on fare. On being questioned the reply was that each of the voters was receiving Rs.80,000 for casting vote in favour of the Didi, who had accumulated-amassed wealth through Ponzi schemes.[28.09.2016]
More than Rs.30,000 crores of public money is parked in Ponzi schemes and non-financing companies. More than 70,000 such fly by night companies are operating with immunity throughout India with active connivance of politicians, bureaucrats, police mafia and the judiciary. For reference two such firms can be named i.e., Sahara and Sharda. Millions of people made deposits with Ponzi King's chit fund-ponzi companies 30 years ago. He cheated millions of poor-middle class investors of billions and all cases were buried without scratching him. He pleaded that he has 12 Lakh employees and they will become job less if he is arrested or punished. He filed false affidavits, advertisements in newspapers.
He did every bit of be fooling the honourable Supreme Court of India and succeeded to some extent. Perhaps he forgot that still some honest people live in India. He is supported by political God Fathers of UP, who themselves under the cloud for amassing trillions. He is a real crooked and fits in the good screen plays of Indian movies. For the time being, he cooling his heels, in Tihar Jail.
His lawyers say that he has not committed anything wrong for which he can be put behind the bars. Over all they are lawyers and paid to turn black into white. This is what they had been doing for the last 2 years for him.
Supreme Court told his lawyers (-read lairs) that the keys to obtain release from prison are in his hands. Let him decide to pay 30,000 crore rupees and get bail. Till the let him celebrates holy in Tihar Prison cells.
Supreme Court has asked him to pay Rs. 10, 000 crore now and 10, 000 crore in two instalments. But the guilty is not willing to part with the money collected through dubious means and cheating the innocent. His employees may not be able to get their salary for the current month. His lawyers are bent upon blaming the Supreme Court Judges as well.
Supreme Court rejected the bail plea of Subrata Roy, yet again. He tried everything from seeking recusal of judges to terming the detention order as draconian. The petitioner has been using tactics like bench hunting-bench hopping or bench avoiding. The Judges observed that calculated psychology offensive and mind games were adopted to seek recusal of judges which needed to be strongly repulsed. Court pronounced that it had enough powers to ensure compliance of its orders and also punish the disobedient-guilty. He and his companies had flouted orders of SEBI, Security Appellate Tribunal and the orders of the Supreme Court. He had been adamant and frittering away repeated opportunities granted by the Supreme Court. Efforts made to cajole him were always stone walled and brushed off. He adopted a defiance constituting rebellious behavior, not amenable to the rule of law. All efforts to cajole were methodically circumvented. The court observed that no violation of the principle of natural justice was there since he was heard personally and through his lawyers extensively before detention order was passed.[07.05.2014]
One of the Hon. judges, who told unequivocally that he was under intense pressure from all quarters in this case, has withdrawn and the bench too has been disbanded due to the retirement of another judge. WILL THE HON. SUPREME COURT BE ABLE TO GIVE A FAIR VERDICT?![17.05.2014]
The director of AMWAY is police custody. This firm is alleged to be in ponzi business. Since the day of its inceptions people are suspicious of its motives and the quality of its products. Its health products are not supported by clinical studies.[28.05.2014]
वो दया की भीख माँग रहा है ताकि जेल से बाहर आ सके और फिर से लाखों लोगोँ को लूट सके। सुप्रीम कोर्ट ने उसकी याचिका पर फैसला 40 दिन के लिए सुरक्षित कर लिया है। पार्लियामेंट को उसकी समस्त चल-अचल सम्पत्ति जप्त कर लेनी चाहिए और उसे ता उम्र जेल की सलाखोँ के पीछे रखना चाहिये। [05.07.2014]
Supreme Court allowed him to hold negotiations  from  Tihar jail  for the sale of  his properties by holding video conferencing. If one calculate his liabilities they turn out to be to the tune of more than 30,000 crore rupees. Why not confiscate all his holdings and let him rest in prison like Raju. He does not deserve leniency or mercy. Let it become a case for others to learn what happens when they commit such frauds.[10.08.2014]
Its almost one year for Subrata Roy in the prison. Its much hyped deal with Mirach has failed for the sale of its iconic hotels, Plaza and Dream Downtown in New York & Grosvenor House in London. Mean while Sahara's deal in the case of Grosvenor House in London has invited ED's investigation for the alleged transfer of funds of over Rs.3,600 crore under FEMA-Foreign Exchange Management Act without the clearance of RBI.[07.02.2015]
Sahara has said that it has decided to sell its stake in formula One team along with Sahara Star hotel in Mumbai and 4 small air crafts to fetch around Rs. 3,000 crore. It has shown its desire to sell Grosvenor House hotel in London to get around Rs. 2,500 crore. Sahara has deposited over Rs. 5,120 stating that it has a liability of Rs. 2,000 crore. It has to return around Rs. 24,000 crore to investors.[03.02.2016]
SARADHA SCAM-PONZI DEAL :: This muddle is of the tune of nearly Rs. 2,400 crore. One has heard of God fathers, Bhais, Dada Giri. Now it’s Didi Giri. Her paintings said to have been bought for over 3 crore rupees by the master mind behind the scam. Party's income tax returns are clearly pointing out an accusation finger to it. The DIDI government promised compensation at the cost of exchequer-tax payer’s money. Its not the first time that the innocent people of Bengal have been cheated. In 1980 Sanchayta had duped the investors of Rs. 120 crore rupees. The current scam has drawn into vortex from individuals to Tolly wood, bureaucrats, politicians, media and who not?! Even CPM leaders were not far behind in the muddle-loot.[04.05.2014]
Honorable Supreme Court has ordered a CBI inquiry into Sharda and another Ponzi-Chit fund deal in Orissa. Didi's outbursts are clearly giving signals of her colleagues involvement without a space for doubt-suspicion.[10.05.2014]The heat is warming the Ponzi Queen. Her associates have started wriggling their tongues. Some of her volunteers who did not sufficient money to buy single meal are now worth 500-1,000 crore rupees. She is calling it a political gimmick, but for how long?! बकरी की माँ कब तक ख़ैर मनायेगी ?! Sudipta Sen is already behind the bars. A retired DGP too has been included in the list of the people under custody. Its the turn of Kunal Ghosh now. The Serious fraud Investigation Office has found several grave violations of the companies act.[10.09.2014]
Bengal law minister staged a dharna-sit in, against the CBI, which is meant to scuttle the probe against the Ponzi deal, proving the complicity of those in power, in it. This could not be there without the sanction of the chief minister, who too has been accused in the scan. The Supreme Court can sou-motto take cognizance in the matter, since the CBI is following its orders.
The scam involves more than 33,000 crore rupees 16,000 employees, 200 companies, 14 people committed suicides, 53 companies in default, 3.3 million have been affected and more than Rs.4000 crore was mopped up from investors. 
If Uma Bharti had to resign from her post as chief minister of MP, why should not this chief minister too resign at once. Her presence in the chair will protect the guilty and distract the probe.[12.09.2014]
One of the stalwarts of TMC Ahmad Hasan Imran-an MP and the former general secretary of the banned SIMI, has been the God father of terrorists-extremists, who utilized scam funds for this ulterior motive.[14.09.2014]
First FIR has been filed in this case.Primary accused are: Sudipta Sen, Debjani Mukherjee and TMC MP Kunal Ghosh. They have been charged under (I) IPC 420: Cheating, dishonesty, inducing delivery of property. Jail term up to 7 years. (II) IPC 409: Criminal Breach of Trust by public servant, banker or agent. Jail for life or up to 10 years. (III) 120 B: Criminal Conspiracy. Minimum 2 years in jail, maximum life sentence or death. (IV) Prize Chit and Money Circulation Schemes (Banning) Act 1978-sec-4 and 6: Up to 3 years in jail.
ASSOCIATION WITH ISLAMIC BANK: There are clues-trails which points to wards a greater deep routed conspiracy-plan to destabilize the government. The terror out fits and SARADHA have links.[25.10.2014]
Kunal Ghosh gulped sleeping pills to commit suicide as per his threat in the court three days ago. He had revealed the names of other TMC functionaries who are under the protection of the queen. Will it be possible for the intelligence agencies to reach the root of the crime till TMC rules Bangal or the present leadership survives?! [15.11.2014]
Bandit Queen: Asif Khan a former TMC functionary disclosed that the entire Saradha scam money is with the Bandit Queen. He was arrested only when he made sensational statements against Mukul Roy-national secretary of TMC. He says that Mukul Roy has thousands of crores of rupees. She has suddenly woken from deep sleep and has started meeting congress leader in addition to L. K. Adwani and Arun Jaitley. Unprecedented love has evolved in her for the Marxists and Communist leaders.[18.11.2014]
Queen's citadel is crumbling: Her 2nd  MP, Srinjoy Bose is behind the bars.  He is 5th in the list. Madan Mitra is evading arrest by claiming to be sick. her counselors in Kolkata Municipal Corporation are eager to join BJP and may switch loyalty any time soon. [22.11.2-14]
She is confirming her involvement through her political moves in the state. She planned a march against the BJP led government at the center but the attendance was unexpectedly thin.The CBI has identified 92 Saradha firms which were floated just before the elections in 2011 between Jan.13 & 24. All these firms went into red. CPM stalwart Gautom Deb alleged that the money had been used in the assembly polls. These firms shared common Diamond Harbor address.[27.11.2014]
Yet another minister of her cabinet may become headline soon since evidence is surfacing against him. TMC fought pitched battle for the rights of 1200 peasants in Singrur, but snatched the bread of 1,17,000 poor people leaving them behind to starve and commit suicide. She threatens of agitation against central government and uses most foul language in her public addresses proving her deep involvement in the scandal.[06.12.2014]
It has come to light that societies are emerging which are making money for the next elections, by duping the innocent investors. The queen is using filthy language against the BJP chief and the PM and instigating the people in Bangal against BJP and creating ruckus in parliament. The elite class & the educated have started drifting away from her.[12.12.2014]
Bengal Transport minister Madan Mitra one of  queens trusted aid's, who was evading arrest by admitting himself in the hospital is behind the bars. He headed the Saradha's employee's union. He is arrested for criminal conspiracy and cheating. Mamta is giving it a political color. She is threatening the BJP of arresting its ministers if they dare visit Bengal. Why did not she arrest Amit Shah when he disclosed her follies?![13.12.2014]
Mamata's reaction is just opposite to that of Naveen Patnaik's. Naveen is maintaining his cool, showing his neutrality, while hysteric queen out bursts indicate that the jaws of law are approaching her fast and that she is not innocent.[15.12.2014]
The TMC chief minister has been dubbed as chit fund minister by those who were countering TMC MP's attack over Jaitley. [22.12.2014]
Kunal Ghosh has stated in a city sessions court that he has evidence against DIDI and TMC's general secretary Mukul Roy in the Saradha case.  He said if any one has derived benefit from the scam, its the Chief Minister herself. He said that he had specific information against them. He has already handed over a video clip gathered through sting operation.[23.12.2014]
DIDI's Criminal Circus MP Srinjoy Bose's bonds worth Rs.10 crore have been attached by the ED-Enforcement Directorate. Shankudeb Panda, a close aide of DIDI, noted painter Subhaprasanna along with former Union Minister Matang Singh too are going to face questioning in the light of specific leads. Matang Singh's properties and bank accounts are attached under Prevention of Money Laundering Act.[24.12.2014]
Sudipta Sen has assets in USA, Shimla and north-east.Those people who have identified are extremely well connected & high profile. There is sufficient reason to interrogate them and some more politicians. There are indications that a plot in Kamalgazi was bought at the behest of a senior TMC leader.[26.12.2014]
Mukul Ray has started spilling beans much before CBI questions him.He has admitted to meeting Saradha boss. He is national sectary of TMC. The queen called a meeting of North 24-Parganas at her residence. The canary still wish to camouflage it, as a political issue considering the voters to be fools.At least she can attempt to brain wash them.[14.01.2015]
CBI raided 9 places connected to the Saradha scam and seized several documents related to it. The absconding adviser of the company chief, Shivnarayan Das has been arrested.[18.01.2015]
Shivnarayan Das is believed to be the brain behind the conspiracy.He will confront Sudipto soon. He travelled abroad since he went underground six months ago.[19.01,2015]
Both Bangal Government and TMC have moved Supreme Court through Kapil Sibbal as lawyer alleging the use of CBI for harrasing them, as a tool by BJP government. The CBI begun probe at the instance of Supreme Court only.[20.01.2015]
Ex-minister Matang Singh MoS in the Narsinha Rao regime, who wielded enormous clout, has been arrested by the CBI. The arrest is for criminal conspiracy, cheating and misappropriation of funds causing trepidation among members of the higher bureaucracy and police corps. Sudipta Sen had alleged that he took bribes to the tune of Rs.28 crore, from the group to launch a channel and did not return the money. He resurfaced during UPA's twilight years when he is said to have played a key role in postings of bureaucrats and senior cops.[01.02.2015] 
Home Secretary who interfered with Saradha probe pertaining to Matang Singh's arrest has been removed. There are indications of rift between the queen and her No. 2 Mukul Roy, who has the backing of 4-5 MP's in the party, due to the coronation of queen's nephew Abhishek Banerjee, as the power center of the party.[05.02.2015]
The Supreme Court has refused to entertain queen and her government's plea of interfering with the day to day affairs of CBI. The court has said that it will look into the case only when the CBI was not doing its job seriously. It turned down the petition of one Abu Abbas who requested to initiate contempt proceedings against the queen. She suffered two more blows simultaneously in the form of resignations from Srinjoy and Locate close to her.[06.02.2015]
TMC Jadupur area president in Malda district’s Kaliachak II block was suspended by the party, police on Monday night raided the residence of his unit’s vice president, Sarjan Sheikh, and recovered firearms and ammunition. A senior district official said five rifles, two 9 mm revolvers, 350 cartridges, 55 crude bombs, 5 kg of material used for making explosives, sharp objects like knives and choppers, a drill machine and an SUV was seized from Sarjan, who was produced at a local court on Tuesday, which sent him to two-day police custody. TMC's had suspended Jadupur area president Bakul Sheikh for six years on charges of extortion and terror mongering. It reveals the true color of TMC and proves the allegations against it.[11.09.2015]
ROSE VALLEY PONZI EMPIRE: It has turned out to be 3 times as big as SARADHA SCAM involving identical faces, under the patronization of the same regime.[08.03.2015]
Gautom Kundu chairman of Rose Valley group has been arrested by enforcement directorate under provisions of Prevention of Money Laundering Act for orchestrating-cheating-raising Rs.15,484 crore from small investors, up to June, 2014, through the promise of high returns; on the basis of the complaint filed by SEBI. He had promoted 27 companies. His 2631 accounts have been attached, so far. The scam has surpassed Saradha.[26.03.2015]
Rose valley goons went on rampage when Kundu was produced in court in Dalhousie area in central Kolkata. A top film maker is also under the lens, in this connection. It has become trend in India to nurture an army of bad characters-goons to intimate people. These goons are so daring that they do not mind attacking police, even in the court, because of the political support of the ruling party.[27.03.2015]
The CBI has confirmed that West Bengal-based Rose Valley group cheated investors of Rs.17,000 crore, making the chit-fund scam seven times bigger than the Saradha scandal. The hospitality to real estate group cheated-duped millions of investors, most of them from low-income group, in at least 10 states, including West Bengal, Odisha and Andhra Pradesh, promising exaggerated returns.
The Supreme Court in May 2014 ordered a probe against 24 chit-fund firms in a Rs. 1.2 Lakh crore financial scandal but it is now that the C.B.I. has come up with the sums snatched from investors.
Rose Valley group is the biggest player in the scandal involving firms operating unlicensed financial schemes that escaped regulators’ scrutiny. 
It is believed that more than 60 million Indians have been victims of such unregulated or chit-fund, schemes. 
FIRMS
MONEY INVOLVED
Rose Valley Group
Rs 17,000 crore
Basil International Limited
Rs 3,500 crore
Saradha Group
Rs 2,500 crore
Sea Shore Group
Rs 580 crore
Arth Tattv Group
Rs 200 crore
Astha Group
Rs 65 crore
The RV group which made a modest start in the hospitality sector in Bengal in the late 1990's,  later expanded to real estate, film and media sectors and was also as a corporate agent of a state-owned insurer. Saradha chairman Sudipta Ghosh’s admission had blown the lid off these scams. Rose valley group chairman Gautam Kundu was also arrested last year on charges of money laundering.[04.01.2017]
The CBI, has submitted a charge sheet against four senior Rose Valley officials, including Kundu, in a Bhubaneswar court in January. Three group firms including Rose Valley Real Estate & Construction Ltd, Rose Valley Hotel & Entertainment Ltd and Rose Valley Real Estate & Land Bank India Ltd. have been named.
ARTH TTV GROUP :: This is yet another Ponzi deal involving multi crore chit fund scam. Pravat Tripathi a BJD MLA and chief whip of Biju Janta Dal in Orissa has been arrested.[01.11.2014]
BJD MP Ramchandra Hansdah and 2 former MLA of BJD have been arrested by the CBI, probing 44 ponzi-chit fund firms duping more than 6.5 Lakh of investors to the tune of Rs. 4,375 crores.The fraudulent deals deprived the investors of more tha Rs. 10,000 crores, including Saradha scam.The MP is continuously changing his stand over the cash recovery of around 26 Lakh rupees.[05.11.2014]
Orissa CM's claim of running a clean  and transparent government has been exposed. So many politicians have been arrested with substantial evidence against them. Amicus Curiae has moved the Supreme court complaining about the barriers-hurdles raised by the government to protect the influential politicians. The CBI could not proceed beyond 4 cases out of a total of 44, so far due to the hindrances and obstructionist tactics and non cooperation.[07.11.2104]
16 people and 7 companies have been charge sheeted. Ruling BJD's MLA Prabhat Tripathy, former Odisha advocate general Ashok Mohanty, AT group chief Pradip Sethy and his Mumbai based business partner and model Preeti Bhatia are among those who have charge sheeted. Sections invoked are 120 B, 406, 409, 411, 420, 468, 471, & section 4.5, and 6 of Prize Chits and Money Circulation Schemes.[12.12.2014]
The Enforcement Directorate attached the Odisha's premier private engineering college, Bhuvneshwar Institute of Technology (BIT), in a major crackdown in connection with the Odisha chit fund scam. Various plots of land and bank accounts allegedly earned through the proceeds of the scam.[10.01.2015]
PEARL GOLDEN FORESTS LIMITED group defrauded thousands of investors of more than Rs. 45,000 cores. CBI filed the FIR in February, 2014 and raided many of its premises, from where it collected the computers, cash registers and documents pertaining to its thousands of bank accounts. It collected various documents pertaining to land deals for the investors. Sukhdev Singh & Nirmal Singh Bhangu is the master mind. 4 teams have been formed to track the case and put the guilty before fast track courts. This company had multiple interests, including Chit Fund. its head office is located at Barakhamba Road, New Delhi with offices at Jaipur, Chandi Garh, Mohali, Ropad, etc. CBI has give it sufficient opportunity to wipe out proof.[03.01,2015]
Ultimately the CBI has arrested the gang of cheats which stated working as a milk man.[09.01.2016]
He has 37 plots in Gurgaon, 50 commercial properties in Mohali & Amratsar, 600 acres land in Bangluru, Golden palm hotel in Spa Colamba, another Golden Palm Hotel in Kala Note Goa, His 1300 bank accounts have been freezed.[22.01.2016]
The Supreme Court has directed to auction the assets of PACL to give relief to 6 crore investors.[03.02.2016]
(21). More than Rs. 30,000 crores of public money is parked in Ponzi schemes and non-financing companies. More than 70,000 such fly by night companies are operating with immunity throughout India with active connivance of politicians, bureaucrats, police mafia and the judiciary. For reference two such firms can be named i.e., Sahara and Sharda. Millions of people made deposits with Ponzi King's chit fund-ponzi companies 30 years ago. He cheated millions of poor-middle class investors of billions and all cases were buried without scratching him. He pleaded that he has 12 Lakh employees and they will become job less if he is arrested or punished. He filed false affidavits, advertisements in newspapers. He did every bit of be fooling the honourable Supreme Court of India and succeeded to some extent. Perhaps he forgot that still some honest people live in India. He is supported by political God Fathers of UP, who themselves under the cloud for amassing trillions. He is a real crooked and fits in the good screen plays of Indian movies. For the time being, he cooling his heels, in Tihar Jail.
His lawyers say that he has not committed anything wrong for which he can be put behind the bars. Over all they are lawyers and paid to turn black into white. This is what they had been doing for the last 2 years for him.
Supreme Court told his lawyers (read lairs) that the keys to obtain release from prison are in his hands. Let him decide to pay 30,000 crore rupees and get bail. Till the let him celebrates holi in Tihar Prison cells.
Supreme Court has asked him to pay Rs. 10,000 crore now and 10,000 crore in two installments. But the guilty is not willing to part with the money collected through dubious means and cheating the innocent. His employees may not be able to get their salary for the current month. His lawyers are bent upon blaming the Supreme Court Judges as well.
Supreme Court rejected the bail plea of Subrata Roy, yet again. He tried everything from seeking recusal of judges to terming the detention order as draconian. The petitioner has been using tactics like bench hunting-bench hopping or bench avoiding. The Judges observed that calculated psychology offensive and mind games were adopted to seek refusal of judges which needed to be strongly repulsed. Court pronounced that it had enough powers to ensure compliance of its orders and also punish the disobedient-guilty. He and his companies had flouted orders of Sebi, Security Appellate Tribunal and the orders of the Supreme Court. He had been adamant and frittering away repeated opportunities granted by the Supreme Court. Efforts made to cajole him were always stone walled and brushed off. He adopted a defiance constituting rebellious behaviour, not amenable to the rule of law. All efforts to cajole were methodically circumvented. The court observed that no violation of the principle of natural justice was there since he was heard personally and through his lawyers extensively before detention order was passed.[07.05.2014]
One of the Hon. judges, who told unequivocally that he was under intense pressure from all quarters in this case, has withdrawn and the bench too has been disbanded due to the retirement of another judge. WILL THE HON. SUPREME COURT BE ABLE TO GIVE A FAIR VERDICT?![17.05.2014]
The director of AMWAY is police custody. This firm is alleged to be in ponzi business. Since the day of its inceptions people are suspicious of its motives and the quality of its products. Its health products are not supported by clinical studies.[28.05.2014]
वो दया की भीख माँग रहा है ताकि जेल से बाहर आ सके और फिर से लाखों लोगोँ को लूट सके। सुप्रीम कोर्ट ने उसकी याचिका पर फैसला 40 दिन के लिए सुरक्षित कर लिया है। पार्लियामेंट को उसकी समस्त चल-अचल सम्पत्ति जप्त कर लेनी चाहिए और उसे ता उम्र जेल की सलाखोँ के पीछे रखना चाहिये। [05.07.2014]
Supreme Court allowed him to hold negotiations from Tihar jail for the sale of his properties by holding video conferencing. If one calculate his liabilities they turn out to be to the tune of more than 30,000 crore rupees. Why not confiscate all his holdings and let him rest in prison like Raju. He does not deserve leniency or mercy. Let it become a case for others to learn what happens when they commit such frauds.[10.08.2014]
Its almost one year for Subrata Roy in the prison. Its much hyped deal with Mirach has failed for the sale of its iconic hotels, Plaza and Dream Downtown in New York & Grosvenor House in London. Mean while Sahara's deal in the case of Grosvenor House in London has invited ED's investigation for the alleged transfer of funds of over Rs.3,600 crore under FEMA-Foreign Exchange Management Act without the clearance of RBI.[07.02.2015]
SARADHA SCAM-PONZI DEAL :: This muddle is of the tune of nearly Rs. 2,400 crore. One has heard of God fathers, Bhais, Dada Giri. Now it’s Didi Giri. Her paintings said to have been bought for over 3 crore rupees by the master mind behind the scam. Party's income tax returns are clearly pointing out an accusation finger to it. The DIDI government promised compensation at the cost of exchequer-tax payer’s money. Its not the first time that the innocent people of Bengal have been cheated. In 1980 Sanchayta had duped the investors of Rs. 120 crore rupees. The current scam has drawn into vortex from individuals to Tolly wood, bureaucrats, politicians, media and who not?! Even CPM leaders were not far behind in the muddle-loot.[04.05.2014]
Honorable Supreme Court has ordered a CBI inquiry into Sharda and another Ponzi-Chit fund deal in Orissa. Didi's outbursts are clearly giving signals of her colleagues involvement without a space for doubt-suspicion.[10.05.2014]
The heat is warming the Ponzi Queen. Her associates have started wriggling their tongues. Some of her volunteers who did not sufficient money to buy single meal are now worth 500-1,000 crore rupees. She is calling it a political gimmick, but for how long?! बकरी की माँ कब तक ख़ैर मनायेगी ?! Sudipta Sen is already behind the bars. A retired DGP too has been included in the list of the people under custody. Its the turn of Kunal Ghosh now. The Serious fraud Investigation Office has found several grave violations of the companies act.[10.09.2014]
Bengal law minister staged a dharna-sit in, against the CBI, which is meant to scuttle the probe against the Ponzi deal, proving the complicity of those in power, in it. This could not be there without the sanction of the chief minister, who too has been accused in the scan. The Supreme Court can sou-motto take cognizance in the matter, since the CBI is following its orders.
The scam involves more than 33,000 crore rupees 16,000 employees, 200 companies, 14 people committed suicides, 53 companies in default, 3.3 million have been affected and more than Rs.4000 crore was mopped up from investors. 
If Uma Bharti had to resign from her post as chief minister of MP, why should not this chief minister too resign at once. Her presence in the chair will protect the guilty and distract the probe.[12.09.2014]
One of the stalwarts of TMC Ahmad Hasan Imran-an MP and the former general secretary of the banned SIMI, has been the God father of terrorists-extremists, who utilized scam funds for this ulterior motive.[14.09.2014]First FIR has been filed in this case.Primary accused are: Sudipta Sen, Debjani Mukherjee and TMC MP Kunal Ghosh. They have been charged under (I) IPC 420: Cheating, dishonesty, inducing delivery of property. Jail term up to 7 years. (II) IPC 409: Criminal Breach of Trust by public servant, banker or agent. Jail for life or up to 10 years. (III) 120 B: Criminal Conspiracy. Minimum 2 years in jail, maximum life sentence or death. (IV) Prize Chit and Money Circulation Schemes (Banning) Act 1978-sec-4 and 6: Up to 3 years in jail.[23.10.2014]

The TMC chief minister has been dubbed as chit fund minister by those who were countering TMC MP's attack over Jaitley. [22.12.2014]
Kunal Ghosh has stated in a city sessions court that he has evidence against DIDI and TMC's general secretary Mukul Roy in the Saradha case.  He said if any one has derived benefit from the scam, its the Chief Minister herself. He said that he had specific information against them. He has already handed over a video clip gathered through sting operation.[23.12.2014]
DIDI's Criminal Circus MP Srinjoy Bose's bonds worth Rs.10 crore have been attached by the ED-Enforcement Directorate. Shankudeb Panda, a close aide of DIDI, noted painter Subhaprasanna along with former Union Minister Matang Singh too are going to face questioning in the light of specific leads. Matang Singh's properties and bank accounts are attached under Prevention of Money Laundering Act.[24.12.2014]
Sudipta Sen has assets in USA, Shimla and north-east.Those people who have identified are extremely well connected & high profile. There is sufficient reason to interrogate them and some more politicians. There are indications that a plot in Kamalgazi was bought at the behest of a senior TMC leader.[26.12.2014]
Mukul Ray has started spilling beans much before CBI questions him.He has admitted to meeting Saradha boss. He is national sectary of TMC. The queen called a meeting of North 24-Parganas at her residence. The canary still wish to camouflage it, as a political issue considering the voters to be fools.At least she can attempt to brain wash them.[14.01.2015]
CBI raided 9 places connected to the Saradha scam and seized several documents related to it. The absconding adviser of the company chief, Shivnarayan Das has been arrested.[18.01.2015]
Shivnarayan Das is believed to be the brain behind the conspiracy.He will confront Sudipto soon. He travelled abroad since he went underground six months ago.[19.01,2015]
Both Bangal Government and TMC have moved Supreme Court through Kapil Sibbal as lawyer alleging the use of CBI for harrasing them, as a tool by BJP government. The CBI begun probe at the instance of Supreme Court only.[20.01.2015]
Ex-minister Matang Singh MoS in the Narsinha Rao regime, who wielded enormous clout, has been arrested by the CBI. The arrest is for criminal conspiracy, cheating and misappropriation of funds causing trepidation among members of the higher bureaucracy and police corps. Sudipta Sen had alleged that he took bribes to the tune of Rs.28 crore, from the group to launch a channel and did not return the money. He resurfaced during UPA's twilight years when he is said to have played a key role in postings of bureaucrats and senior cops.[01.02.2015] 
Home Secretary who interfered with Saradha probe pertaining to Matang Singh's arrest has been removed. There are indications of rift between the queen and her No. 2 Mukul Roy, who has the backing of 4-5 MP's in the party, due to the coronation of queen's nephew Abhishek Banerjee, as the power center of the party.[05.02.2015]
The Supreme Court has refused to entertain queen and her government's plea of interfering with the day to day affairs of CBI. The court has said that it will look into the case only when the CBI was not doing its job seriously. It turned down the petition of one Abu Abbas who requested to initiate contempt proceedings against the queen. She suffered two more blows simultaneously in the form of resignations from Srinjoy and Locate close to her.[06.02.2015]
Matang Singh's assets worth Rs. 28 crore, with the market value of Rs. 150 crore, have been attached by the enforcement directorate-ED. Its curious how & why the queen is still not touched by the CBI when all these cheating scams took place under her regime under her direct control as chief minister.[22.12.2105]
ROSE VALLEY PONZI EMPIRE: It has turned out to be 3 times as big as SARADHA SCAM involving identical faces, under the patron of the same regime.[08.03.2015]
Gautom Kundu chairman of Rose Valley group has been arrested by enforcement directorate under provisions of Prevention of Money Laundering Act for orchestrating-cheating-raising Rs.15,484 crore from small investors, up to June, 2014, through the promise of high returns; on the basis of the complaint filed by SEBI. He had promoted 27 companies. His 2631 accounts have been attached, so far. The scam has surpassed Saradha.[26.03.2015]
Rose valley goons went on rampage when Kundu was produced in court in Dalhousie area in central Kolkata. A top film maker is also under the lens, in this connection. It has become trend in India to nurture an army of bad characters-goons to intimate people. These goons are so daring that they do not mind attacking police, even in the court, because of the political support of the ruling party.[27.03.2015]
ARTH TTV GROUP-SEASHORE GROUP-GREEN RAY INTERNATIONAL-NABADIGANTA-CAPITAL SERVICES: This is yet another Ponzi deal involving multi crore chit fund scam. Pravat Tripathi a BJD MLA and chief whip of Biju Janta Dal in Orissa has been arrested.[01.11.2014]
BJD MP Ramchandra Hansdah and 2 former MLA of BJD have been arrested by the CBI, probing 44 ponzi-chit fund firms duping more than 6.5 Lakh of investors to the tune of Rs. 4,375 crores.The fraudulent deals deprived the investors of more tha Rs. 10,000 crores, including Saradha scam. The MP is continuously changing his stand over the cash recovery of around 26 Lakh rupees.[05.11.2014]
Orissa CM's claim of running a clean  and transparent government has been exposed. So many politicians have been arrested with substantial evidence against them. Amicus Curiae has moved the Supreme court complaining about the barriers-hurdles raised by the government to protect the influential politicians. The CBI could not proceed beyond 4 cases out of a total of 44, so far due to the hindrances and obstructionist tactics and non cooperation.[07.11.2104]
The Enforcement Directorate attached the Odisha's premier private engineering college, Bhuvneshwar Institute of Technology (BIT), in a major crackdown in connection with the Odisha chit fund scam. Various plots of land and bank accounts allegedly earned through the proceeds of the scam.[10.01.2015]
16 people and 7 companies have been charge sheeted. Ruling BJD's MLA Prabhat Tripathy, former Odisha advocate general Ashok Mohanty, AT group chief Pradip Sethy and his Mumbai based business partner and model Preeti Bhatia are among those who have charge sheeted. Sections invoked are 120 B, 406, 409, 411, 420, 468, 471, & section 4.5, and 6 of Prize Chits and Money Circulation Schemes.[12.12.2014]
SEBI has asked PACL-Pearls Agrotech Corp Ltd. to deposit Rs.7,269 core as fine. But what about the refund of Rs. 49,100 crores to the investors and the interest over the money?![23.09.2015]
(22). The petroleum prices started escalating suddenly breaching 150 dollars level a few years ago. It was discovered that the pension funds of employees were used for bating and stocking the commodity. Though prices were controlled a bit, yet they are pushing the economies into the red, world over. US is the largest per capita consumer of petroleum and its the only country which can bring them down to reasonable levels. The Arab-Gulf countries are flourishing, at the cost of developing and under developed countries. Ways and means are tried all over the world to check the dependence over this fuel by devising new cheap fuel substitutes.
(23). Global Financial Integrity states that 213 billion dollars (-14 Lakh crore rupees) have been siphoned off abroad, till 2008, earned through dubious sources-black money. People all hue including top businessmen, political leader, service personnel and the royalties of the past have contributed.
(24). One should never give insecure loans to anyone. One who wishes to have loan should be able to mortgage his property-valuables and nothing more than 50% of it should be given. Care should be taken to check the authenticity-genuineness of the goods to be mortgaged.
(25). Order 37 of the Civil Procedure Code covers summery suits and helps solve the problem expeditiously. Section 406 covers criminal breach of trust under Indian penal code. Section 417 tackles cheating under the IPC. Section 420 covers punishment for cheating and dishonestly inducing delivery of property under IPC. Section 426 covers punishment for mischief under IPC.
(26). Inflation has reduced-depreciated the value of Rupee from Rs. 100 to Rs.13.80, over a period of 30 years.
(27). He is the son in law of the most powerful lady-a foreigner, in India. The lady was portrayed as the 6th richest woman in the world. He is just a matriculate. His only qualification is that he is a Christian. He has earned more than Rs. 500 crores (-according to the wall street journal), through benami deals-sale and purchase of land, at others cost, visibly through borrowed money. He has utilized the political strings-supremacy of the ruling family. None of the political partied dared speak against him, since they too are involved in similar scandals. The official do spoke against him is facing torture at the hands of government officials, along with politicians. Even if the ruling party loses in election no one will dare act against him and his relatives. [23.04.2014]
(28). The Supreme Court has rapped the government for not disclosing the names of Indian account holders, in Liechtenstein bank. The order was issued three years ago. The coffers of these Swiss banks are full to the brim, by the black money generated by Indians through criminal acts-fraudulent deals, involving government officials-baccalaureates, criminals, politicians, police etc. High and mighty in the country seeks loans from banks and just transfers them to foreign banks without having any business. Loans are sanctioned in cases where the loan seekers have nothing in the name of goodwill or assets, except connections. [23.04.2014]
(29). One will hardly find a country, which does not resort to lending-taking loans. Countries in Europe are reeling under debt burden or economic turmoil, due to their economic policies-wasteful expenditure by the parliament-ministers. Their desire of having a common currency-EURO has not yielded, desired results. They are still unable to find ways to come out of the red. Russia is paying the price of its current foreign policy, with the capital leaving the country, falling of Rubble, enhancement of rates along with sliding of its stocks. Germany and whole of Europe is experiencing the impact of the sanction imposed over Russia. European banks and business more are exposed to Russian economy as compared to American counter parts. [27.04.2014]
(30). Economic sanctions-blocked harm the one, who imposed them over the others, in the long run. Sanctioned against India, after it became Atomic power, had to be eased. Not only India, same results were observed in Iran as well. Now, it’s the turn of Russia. Sooner or later, it will learn to live without what others give it. In the meanwhile, your businessman will be ruined, who has borrowed a lot of money. [28.04.2014]
(31). The money lender in India grants short term loans to the needy that are willing to pay at the rate of 2% per month. Loans fetch him anything between 3-5% per month, depending over the urgency-need of the client. There are people who are willing to pay 10% per day. Here the money lender who is dis honest cuts the advance interest. Generally the business is carried out without security over person good will, honesty, trust, previous dealings, and ability to refund. This is applicable to small loans. If one asks big loans, he has to mortgage his property, valuables, jewellery ..., the list is long. Proper stamp papers have to be signed and if the stake is too high the papers have to be registered with the registrar. One has been listening to the tales-bows of those who could not return loans to the money lender. Still the business is flourishing by the day and night. Micro loan companies are flourishing in small town and villages. Ponzi deals are taking place simultaneously. Hinduism permits charging of interest over the borrowed money at the rate of nearly 1/6th of the value of the loan.
(32). A list of people has surfaced, which shows that banks have to recover at least 2.36 Lakh Crore rupees from defaulters. They are non-other than big industrial houses. Though it’s not so easy, but it’s not impossible, as well. It needs firm will at the top level and every one will fall in line. The government should make suitable amendments to the existing laws for debt recovery. [10.05.2104]
(33). Andhra-Seemandhra government is set to waive off Rs.54,000 crore loan taken by the farmers.This is seen as the biggest populist measure by any state government. Andhra is a deficit budget state. Telangana-former Andhra, is not far behind. Its preparing to waive off another Rs.12,000 crore loans in the grab of farm loans. This is colossal wastage of exchequer money of the tax payers available to the politicians to spend over their fancies just to gain support. They will hesitate to begin  with a new regime of tax era. Its the middle class family which has to suffer from this burden. One knows from person experience and KNOWLEDGE that these loans are obtained for the purposes other than farming, which have nothing to do with farming e.g., marriage, house building, purchase of vehicles, feasts etc. Its not a secret that the bank employees get a cut from these loans in the form of commissions. And both are aware that at one or the other stage the government will waive off these loans. The Congress regime waived off Rs. 10,000 crores in 1990 and Rs. 60,000 crores in 2008. One would expect Modi not to fall in the trap laid by Naidu. The government is turning the farmers into beggars, cheats and fraudsters. This would have been better, had this money been used for building water reservoirs-dams, roads and schools in the villages.The government is already spending a lot of money over subsidies over diesel, insecticides, pesticides, support price of farm products, no lagan-tax on farm land, irrigation water and electricity. And still the farmer is poor-hungry. THE FACT REMAINS THAT THE MONEY NEVER REACHES THE FARMERS.[05.06.2014]
(34). The country is reeling in debt and the Karnatak Government is planning to spent Rs. 3,000 crore on building and installing statues of Mahatma Gandhi. Had Gandhi been alive, he would have wept over the extravagant-useless expenditure and foolishness off these governments. Earlier Maya spent more than Rs. 5,000 crores over the statues of her own, her Mantr and caste leaders. One must remember that the dalit has rejected her and her extravagant-wasteful expenditure. In fact this is a futile attempt of creating a new world order-religion based on caste politics. 
(35). Rs.2.5 Lakh Crore is struck in bad loans granted to capable willful defaulters by the banks. There is willful-committed-calculated delay in granting permission to prosecute these defaulters. The CBI is still waiting for permission for prosecuting  senior officials of the IDBI  and others, involved in siphoning off Rs. 1,100 crore to Gujrat based Biotor Industries-castor oil manufacturer, which took loan from a consortium of banks led by SBI. This money never reached the farmers. 14 FIRs were filed by the CBI.  In another case of Mahua Media, which launched Bhojpuri TV news channel a total of Rs. 2,700 crore is struck . In this case 3 officials of PNB are main accused. The CBI is investigating a total of 27 cases against 9 companies like Rajat Pharma, Deccan Chronicle, Holdings, Pixion Media and Zoom Developers, for loan defaults.
बैंकों का पैसा वापस करने के लिए :: जिंदल स्टील को अपने रेल व्यापार का 49% हिस्सा बेचना पड़ रहा है और उसने अपने 3500 मेगावाटके पावर प्लांट को भी बिक्री लिये प्रस्तुत किया है ! 
एस्सार अपने स्टील कारोबार का बड़ा हिस्सा बेचने को मजबूर है और अपने तेल व्यापार की 49% हिस्सेदारी भी बेच रहा है!
GVK बैंकों के पैसे लौटाने के लिए अपने बैंगलोर और बॉम्बे एयरपोर्ट 33% हिस्सेदारी बेच रहा है और सड़क से जुड़ी अपनी पूरी संपत्ति को सेल पर लगा दिया है!
DLF ने दिल्ली का साकेत मॉल, रेंटल और भूमि संपत्ति में से 40प्रतिशत हिस्सा बेच रहा है!
GMR हाइवे प्रोजेक्ट, साउथ अफ्रीकन कोल माइन, इस्तांबुल एयरपोर्ट और सिंगापुर पावर पोजेक्ट का 70%, इंडोनेशिया के 2 कोयला खदानों को सेल पर लगा दिया है!
JP ग्रुप अल्ट्राटेक, यमुना एक्सप्रेस वे और JSW में अपनी पूरी हिस्सेदारी बेच रहा है!
टाटा ब्रिटेन में कोरस स्टील प्लांट, धमरा पोर्ट,  दक्षिण अफ्रीका में नियोटिल, बॉम्बे में जमीन बेच रहा है।
LANCO  आंध्रा और उडूपी में अपने बिजली उत्पादन यूनिट बेच रहा है!
VIDEOCON  6 सर्किल में अपना टेलीकॉम स्पेक्ट्रम, मोन्जाबिक में तेल संपत्ति बेच रहा है!
रेनुका सुगर ब्राजील पावर चीनी और बॉयो फ्यूल के कारोबार को निपटाने में जुटा है! 
सहारा समूह की 86 संपत्तियां बिक रही हैं!फॉर्मूला वन का42 प्रतिशत, मुंबई में सहारा होटल, लंदन के होटल, न्यूयॉर्क प्लाजा होटल, द ड्रीम न्यूयॉर्क होटल और 4हवाई जहाज बेच रहा है!
विजय माल्या की सारी की सारी सम्पत्ति बिक रही हैं! 
रिलायंस इंफ्रास् ट्रक्चर मुंबई में बिजली कंपनी के उत्पादन और वितरण का 49% हिस्सेदारी बेच रही है! 
बिड़ला सीमेंट अपना सीमेंट के व्यापार और सड़क की सारी परियोजना एं बेच रहा है!
अगर यह सही भी तो खरीदार कहाँ हैं, कौन हैं और पैसा कहाँ से आयेगा!? क्या नये खरीदार बैंक से पैसा उधार-कर्ज नहीं लेंगे ? कहीं ऐसा न हो कि नई बोतल में ही पुरानी शराब भर दी जाये और वाह-वाह लूट ली जाये। [08.11.2017]
(36). Failure of banking system in Portugal led to crash of Indian Share market. Its a common feature almost with every failure of banking system be in US, China, Europe or Tokyo. Its the poor investor who is cheated. The elite FII's move out of loss making stocks quickly. There have been at least three instances in India when the share holders were defrauded on the browser leading to a chain of suicides. Still the government support-encourage this primary and secondary market. Let it be run by the market forces by shielding the small investor.[12.07.2014]
(37). JP Associates has sold off its Hydel power projects to Reliance of Anil Ambani for 12,000 crore Rupees, to pay a fraction of its loans of 50,000-65,000 crore Rupees. When you bite more than your capacity-diversify in un acquainted fields, you bite the dust. The debt servicing has forced a number of companies to BIFR-liquidation.
(38). Birla's have a tendency of ploughing back their profits-reinvesting to new ventures mergers-acquisitions and hive off loss making units. Their debt burden is generally manageable and in their paying capacity. 
(39). Kerosene oil is sold by the government by providing subsidy at an unimaginable loss. This kerosin is diverted by black marketeers to other people, who make big chunks of money through fraudulent means, under the nose of government. This is added in petrol and other chemicals for high margins.Interestingly most of the petrol pumps in India are held by the big businessmen and heavy weights in politics, like Ex-Prime Minister Chandr Shekhar had more than 110 petrol pumps in his name.[28.07.2014]
(40). He is a non resident Indian. He appeared before the special court for economic offences pertain to TDS (-tax deducted at source). He was granted bail, though the counsel for income tax department contended that the offences were non bailable. He is evading the payment of bank dues, income tax dues etc. to the tune of thousands of crores of rupees. It may be that his assets may fall short of the liabilities. He has been given sufficient opportunity and time to withdraw the money and take to places (-safe havens for black money, abroad) from where at least the Indian government can not recover it. He is hand in glove with the politicians, bureaucrats, police and may be with the judiciary, as well. He travels abroad too frequently. He owned distilleries, fertiliser plants, soap manufacturing, air line-king fisher and so many other companies. He is generally seen in the company of young women surrounding him. He is Vijay Mallya.[01.08.2014]
He-Vijay Mallya, has been declared a willful defaulter. Instead of repaying debt he is planning to move Supreme Court. Will the court give him reprieve?! He needs a treatment similar to that awarded to the Ponzy king-the jailed Sahara boss.[02.09.2014]
SBI too has issued notices to declare Vijay Mallya as a willful defaulter. United Bank has already obtained legal protection against Malaya's legal recourse. Reserve Bank of India has issued guide lines to declare all companies as willful defaulter if any one of the companies owned by a defaulter failed to clear dues.अब आया है ऊँट पहाड़ के नीचे। [10.09.2014]
(41). Syndicate Bank CMD has been arrested by the CBI for showing un due favors in return for 50 Lakhs for raising the loan limit. Bhushan Steel Industries, Prakash Industries and Totani's names have figured in the scam. He is said to have been involved in coal scam as well. His son and some lawyers, have also been arrested. This is just the tip of the ice burg.  Deeper you dig more clinching evidence you find and hundred of high positioned officers of public sector banks would be behind the bars. But they are the small fish only. If you have guts catch the real culprits ruling the country with immunity.[03.08.2014]
(42). Mumtaaz (38) wife of Zaheer Mohammed obtained the death certificate issued from the Udaipur municipal corporation [Rajasthan, India] to evade a loan of Rs. 4 Lakh. their are the people who mimic their own-spouse's death to get the insurance money or to get the debt wavers from government-banks.[04.05.2014]
(43). PACL:- SEBI has asked PACL formerly Pearls Agrotech Corporation to refund Rs.49,000 crores to investors within 3 months. SEBI has also asked to close unauthorized Collective Investment Schemes run by the company.Company has not revealed the details of the funds mobilized by it during 2012-13. This is a case on the lines of Ponzy schemes launched by Sahara, but of much larger magnitude and size.[24.08.2014]
SEBI has attached the assets of the fraud company, its promoters & directors totaling Rs.60,000 crore.[15.12.2015]
Image result for nirmal singh bhangooPEARL GOLDEN FORESTS LIMITED group defrauded thousands of investors of more than Rs. 45,000 cores. CBI filed the FIR in February, 2014 and raided many of its premises, from where it collected the computers, cash registers and documents pertaining to its thousands of bank accounts. It collected various documents pertaining to land deals for the investors. Sukhdev Singh & Nirmal Singh Bhangu is the master mind. 4 teams have been formed to track the case and put the guilty before fast track courts. This company had multiple interests, including Chit Fund. its head office is located at Barakhamba Road, New Delhi with offices at Jaipur, Chandi Garh, Mohali, Ropad, etc. CBI has give it sufficient opportunity to wipe out proof.[03.01,2015]
Ultimately the CBI has arrested the gang of cheats which stated working as a milk man.[09.01.2016]
Nirmal Singh Bhangu-the master mind has metamorphosed from a milk seller near the Atari border in Punjab to the owner of 1.83 Lakh acres of land around the country. He has 66 offices in Connaught Place (-क्नाटप्लेस) Delhi and more 1400 acres of land in Haryana which impossible without the active collusion of official-bureaucratic-police-political nexus.[20.01.2016]
He has 37 plots in Gurgaon, 50 commercial properties in Mohali & Amratsar, 600 acres land in Bangluru, Golden palm hotel in Spa Colamba, another Golden Palm Hotel in Kala Note Goa, His 1300 bank accounts have been freezed.[22.01.2016]
683 acres of land has been discovered in his possession in Delhi. He along with others, has been sent to Tihar jail for 14 days on remand. Rs. 1450 crores has been deposited in court recovered from him by attaching his accounts.[24.01.2016]
The Supreme Court has directed to auction the assets of PACL to give relief to 6 crore investors.[03.02.2016]
CBI has unearthed that PACL ow 2 entire sectors 100 & 104 in Mohali. Along with these half of sector 96 & 99 are also owned by it, spreaded over more than 500 acres of area.It owns another 750 acres in Banur near Chandigarh.Besides vast land tracks in Zirakpur in Punjab it holds 400 acres in Ludhiana.[27.04.2016]
(44). There are thousands of companies registered over the stock exchange which issued shares and debentures worth trillions and disappeared thereafter by duping the investors. Some of them are still in business but under different name and style. Some of them are: (44.1) Ganga Asbestos Cements Ltd., (44.2) Karnataka Ball Bearing Corporation, (44.3) Punjab National Fertilizers & Chemicals Ltd., (44.4) Usha Rectifiers India, (44.5) Ace Laboratories Ltd., (44.6) Malvika Steel Ltd., (44.7) J.K. Pharmachem Ltd., (44.8) Uniplas India Ltd. etc. etc.
The government of India opted for paperless share transactions. It forced the investors to open demate accounts. Now, that the value of majority of holdings has turned to zero, companies like Alankit are exploiting the poor investors of a lot of money for its service charges. Its virtually impossible either to close dealings with companies like Alankit or to come out of the whole episode safe. In fact the action taken by SEBI is merely an eye wash, without any impact over the fraudulent-corrupt.[24.08.2014]
(45). MAHUAA TV, one of the biggest loan defaulters raised Rs.1,724 crore through bogus-illegitimate companies namely:Century communication (Rs. 334 crore), Pearl Vision (Rs. 234 crore), Mahuaa (Rs. 201 crore) Pixion Media (Rs.195 crore) from 14 nationalized banks which is not possible without the active collaboration of big wigs. The ease with which Anand Tiwari carried out the job has left behind Natwar Lal-the notorious cheater and fraudster of ester years. The senior staff-management is   for the episode. All these people should be nabbed and put behind the bars along with confiscation of their properties including those in the names of their kin.
(46). Second biggest loan defaulter Winsome Group has diverted most of the assets-money raised through PSU banks, abroad. Here one can realize the purpose for which the banks were nationalized. It clearly indicates that the present law is either insufficient-inefficient or has holes in it, to tackle the menace. Why and how the fraudsters keep roaming freely pushing their plans for looting, Scot free?!
(47). Indian politician is immune to criticism-proofs-documentary evidence of receiving bribery for showing favours to contractors-builders. A sum of Rs. 7.5 crores was deposited by Vakamulla Chandrshekhr for the favours he achieved from Vir Bhadr as bribe, in his accounts. VC showed that he obtained the money from Ahilya Devi his grand mother having 45 acres of land and growing spices there. It has come out that the lady has no connection with the businessman at all. [25.08.2014]
(48). More than Rs. 5,574 crore looted from NSEL-National Spot Exchange Ltd.-promoted by Jignesh Shah, who had been an active collaborator in the scam, was diverted into real estate by the borrowers, who later turned defaulters. More than 150 properties have been attached so far by the Mumbai Police's EOW-Economic Offence Wing. More than 22 fraudsters-looters, were involved in the crime. Three malls, called D-Malls one each in Pitam Pura, Rohini, & Pashchim Vihar, Radisson Hotel-Pashchim Vihar, G. D. Goenka Public School, Sector-9 Rohini,  3 acre bungalow in civil lines-valued at Rs. 300 crore, located in Delhi are amongest the attached properties. Other valuable properties are located in Mumbai, Punjab, Haryana. A lot of money is invested in the multi storied towers of Noida. Some of the money was routed to Bollywood as well.
(49). Bankruptcy is a means to skip liabilities. NRI business man C. Shivasankran-a citizen of Seychelles, rode telecom crest for 20 years. His attempt is to ward off a claim by his Bahrain based telecom partner Batelco, which won a court decree for $212 million for its investment in S.Tel's telecom licenses in India, which were cancelled after a Supreme Court ruling in 2G scam. He is said to be facing turmoil due to the personal guarantee, he gave for an equity investment. Other telecom firms like Etisalat, which had invested in in Swan had to write off their investments, while Batelco successfully obtained court orders.
(50). GALGOTIA UNIVERSITY'S CHAIRMAN'S WIFE & SON are behind the bars. He managed to obtain bail.He stated his business of education in sector-26 of Noida through a house on Atta-peer road and shifted to the sector-26 market after some time.He got land allotted from Greater Noida Authority to expand his business successfully. He has colleges having a large number of students. This all happened in just 15-20 years. He obtained loans worth Rs.120 crores with the help of forged papers ad stopped installment soon there after, saying that he is under going losses! He uses all sorts of tact's for extracting money from students like donations-capitation fee, building funds etc., in addition to normal charges and still under losses-unimaginable![15.10.2014]
(51). LOWERING OF INTEREST RATES OVER BANK DEPOSITS:: Atal Bihari Vajpayee's government reduced the interest rates by one and a half percent to just 3.5. The benefit was transferred to the industrialist, who is in a habit of doing business with the help of others resources. It's not all, they prefer to hold back the instalments. Why should the funding to any one, be made at the cost of the poor-hand to mouth, who try to save money for buying a house, his daughters marriage, for higher education of his son!? The minimum return over the bank deposits should be 5%. The longer the term, the higher should be rate of interest, like 6% for 2 years, 7% for 3 years, 8% for 4 years and 9% for 5 years. There after the rate of interest should be fixed at 10% to 15%. This will surely boost the economy, with the funds recycling regularly and enhancing the purchasing power of the common man (-not mango man or Aam Aadmi of AAP).
Lowering of interest rates is not going to boost housing industry, since the present phase has its deep association with the black money invested in housing projects, all over India and abroad. During recent months one after another disclosures-scams-scandals proved the point.

(52). Government has named Pradeep Burman of the Dabur India group, Goa-based miner Radha Timblo and Raj Kot-based bullion trader Pankaj Chimanlal Lodhiya, in its affidavit filed in the Supreme Court, as the account holders abroad who are potential tax evaders, generating black money. The money has been earned with dubious means including the loans from banks which were never paid back. Public is anxiously waiting for the names of the high and mighty, who had their black money accounts in Swiss banks.
(53). Y. S. Chawdhary, a Rajy Sabha member & TDP nominee has been inducted in union cabinet. He is one of the top loan defaulters @ Rs. 317 crore from Central bank of India. He has declared highest assets @Rs. 190 crore.
(54). SEZ SCAM: CAG has unearthed two SEZ scams. The first one indicates to acquisition of land and selling it inflated prices, conversion of land use & seeking huge loans by the business czars. Yet another scam exposes the developers who mortgaged government land and raised over Rs.6,300 crores from banks. The commerce ministry refused to take action.[04.12.2014]
(55). Spice Jet-the LCC has to clear dues worth Rs.1600 crore. It has been placed on cash and carry-depriving it of credit. Its fleet is shrinking along with number of flights. Its repeating King fisher episode.[06.12.2014]
The aviation minister has asked the banks to extend a loan worth Rs. 600 crore to revive Spice Jet. Why are the owners not willing to pour their money into it?! Perhaps he did not realize that the hard earned money of the tax payers and the bank depositors is at stake. Those who do business with others money, pocket the profit & deposit it tax heaves, turning it into black money and leaves the losses for the public to bear. He said that he wanted to help the passengers. What appears in reality-the inside story, is that he is inclined to help the businessman at the cost of the government-public.[19.12.2014]
(56). NCP's top guns will be probed in Rs.72,000 crore irrigation scam of Maharashtr. Ajit Pawar and Sunil Tatkare played a big role in the scam.[13.12.2014]
A contractor associated with the irrigation scam of Maharashtr has revealed that nearly half of the tender money is pocketed by the officials and the MLA-MP of the area & Minister of the concerned department. This story matches with the story of Yadav Singh's story of Noida's scandles-frauds-scams. [20.12.2014]
(57). More than half of India's population is reeling under debt. 31% of rural and 22% of urban population has to return the money they have landed from one or the other source. Rural poor take money mainly for spending over marriages and farming. The urban citizens, specially young take advances to buy cars, homes, luxury items, with the help of credit cards, for which they have to pay as much as 50% rate of interest. The retired and retiring employees take debts for marriages of their children, higher studies and buying a flat in suburbs of cities. More than 70% is pocketed by the bank employees, when they extend loans to rural-illiterate poor. The rural poor commit suicide, when he fail to manage more money.[22.12.2014]
(58). ONLY BUILDERS, BANKS GAIN WHEN YOU TAKE LOAN TO INVEST IN REALTY :: The table given below is an eye opener, specially for the young ones, who jump to taking loans, without understanding the out come of it. There is a misnomer that let one to believe that real estate is the best investment option. This is something one hear almost every second day from various individuals. The person also believed that among various asset classes, money is being minted out, only in real estate. To clear the cobwebs regarding real estate investment by taking a loan and to open up a myopic view on this subject, here are some calculations after agreeing on some basic assumptions. 
(59). BANKRUPTCY IN GREECE: Insolvency of Greece is man made.New government under Tsipras is trying to renegotiate its loans and end austerity measures. It has increased minimum wages. German Chancellor Angela and her countrymen have rightly ruled out debt relief for Athens. Greece is trying to seek help from France & Italy, whose leftists governments might be sympathetic to Greece for its determination to end painful reforms. Yanis Varoufakis the maverick finance minister was to start his tour from London. There has been voluntary debt relief by private creditors and banks in billions.
Hard left Syriza, has pledged to rip up the terms of the EU-IMF rescue package that helped Greece avoid economic melt down in 2010. The new regime in not in favor of the privatization of its ports and power companies. Its still reeling under debt pile of 315 billion euros, upward 175% of GDP, which in it self is a record for Europe.
The people of Greece should recover the money by seizing & selling the assets of its corrupt rulers in the past. Austerity measures are a must for every country. Its not good to beg or deny the payment of dues.
Spaniards are following the same fate.
The inevitable has happened. It has defaulted on repayment of IMF loans. It may however survive over charity by some of the European countries. It has reached bankruptcy. This is another blow to the communists and the so called socialists. The government of the immature has fixed the final nail in its coffin. Banks may not be able to issue money on Tuesday, when they reopen!
Their pensions have stopped. They could not get money even after visiting 5 banks. They do not have any thing to eat. Who is to blame? The communists are still favoring this state of the events!Ridiculous-worst-a nation is turning into -facing turmoil due to its own folly-who else to blame?!As you sow so shall you reap. Throw-kick them away, who brought the Greeks to their knees-fire them as early as possible. It would be unwise to give money power in their hands. Let some one else, who can solve the riddle take the reins in his hands.[05.07.2015]
Greece has almost lost its credibility. It will not be able to keep its promises after two previous bailouts worth 240 billion euros. Tsipras is not capable of handling the affairs of this ancient culture. He may take a U-TURN over the NO vote. Some of the mis guided-morons-idiots-duffers, under the banner of communist party are still active. People have suffered and suffering and will suffer if this stalemate continues. More than 2,00,000 youth have left the country in search of jobs.Reforms and cut in expenditure are must. German and  Euro zone governments should think 10 times before they decide a bailout package.[12.07.2015] 
Out of the 1001 respondents 82% found it risky to bailout Greece, since they did not believe the Greek government to implement the reforms, which are said to be draconian and harsh, while support for Merkel remained firm.Ministers in Tsipras cabinet revolted openly, facing the danger of being removed. Tsipras is having comfortable majority and is expected to receive support from the opposition as well. Euro zone countries have to get the pact rectified from their parliaments.[15.07.2015]
Tsipras has resigned to hold elections on September 20. 25 of his friends have turned foes. The Greeks are bound to be insecure-restless and suffer. This may further escalate the already worsening situation. The third bailout package may not prove helpful till Greeks learn to earn and spend prudently, sending their political leadership to exile-JAIL.[22.08.2015]
SYSTEMICALLY ORGANISED LOOT BY US BANKS IN GREECE :: THE OTHER SIDE OF THE STORY :: One has been made to believe that the government in Greece  spent too much money and went broke; the generous banks gave them money, but it just mismanaged the money received. This is applicable to other European countries as well.
The banks and corporations exploited many Latin American, Asian and African countries as well, for many decades by bluffing them. The banks just wrecked the Greek government and then deliberately pushed it into unsustainable debt, forcing it to sell public assets for revenue-generation to oligarchs and international corporations.
STAGE (1). Great Financial Crisis of 2008 was the brainchild of Wall Street and international bankers. The banks came up with an awesome idea of giving subprime mortgages. They then sold them as mortgage-backed securities for a huge profit to various financial entities. 
The conspiracy was hatched by another branch of the banking system, the group of rating agencies like: S & P, Fitch and Moody’s, giving stellar ratings to these destined-to-fail financial products. Unscrupulous politicians joined Goldman Sachs and peddled these dangerous securities to pension funds and municipalities and countries around Europe. Banks and Wall Street gurus made hundreds of billions of dollars in this scheme.
STAGE (2).  The financial time bombs exploded. Commercial and investment banks around the world started collapsing in a matter of weeks. Governments at local and regional level saw their investments and assets evaporate, leading to chaos everywhere as chain reaction!
Vultures like Goldman Sachs and other big banks profited enormously in three ways: one, they could buy other banks such as Lehman brothers and Washington Mutual for pennies on the dollar. Second, more heinously, Goldman Sachs and insiders such as John Paul-son (who recently donated $400 million to Harvard) had made bets that these securities would blow up. 
Paul-son made billions and the media celebrated his acumen. (For an analogy, imagine the terrorists betting on 9/11 and profiting from it.) To scrub salt in the wound, the big banks demanded a bailout from the very citizens whose lives the bankers had ruined! Bankers have chutzpah. In the U.S., they got hundreds of billions of dollars from the taxpayers and trillions from the Federal Reserve Bank which is nothing but a front group for the bankers.
In Greece, the domestic banks got more than $30 billion of bailout from the Greek people. Let that sink in for a moment-the supposedly irresponsible Greek government had to bail out the hardcore capitalist bankers.
STAGE (3).  The banks forced the government to accept massive debts. One of the proven techniques used by the parasitic international bankers is to downgrade the bonds of a country. And that’s exactly what the bankers did, starting at the end of 2009. This immediately makes the interest rates (yields) on the bonds go up, making it more and more expensive for the country to borrow money or even just roll over the existing bonds.
From 2009 to mid 2010, the yields on 10-year Greek bonds almost tripled! This cruel financial assault brought the Greek government to its knees and the banksters won their first debt deal of a whopping 110 billion Euros.
The banks also controlled the politics of nations. In 2011, when the Greek prime minister refused to accept a second massive bailout, the banks forced him out of the office and immediately replaced him with the Vice President of ECB (European Central Bank)! No elections needed. Screw democracy. And what would this new guy do? Sign on the dotted line of every paperwork that the bankers bring in.
On the very next day, the exactly the same thing happened in Italy, where the Prime Minister resigned, only to be replaced by a banker/economist puppet. Ten days later, Spain had a premature election where a technocrat banker puppet won the election).
The puppet masters had the best month ever in November 2011.
Few months later, in 2012, the exact bond market manipulation was used when the banksters turned up the Greek bonds yields to 50% !!! This financial terrorism immediately had the desired effect: The Greek parliament agreed to a second massive bailout, even larger than the first one.
Now, here is another fact that most people don’t understand. The loans are not just simple loans like you would get from a credit card or a bank. These loans come with very special strings attached that demand privatisation of a country’s assets. 
STAGE (4).  Now, the rape and humiliation of a nation begin. For the debt that was forced upon them, Greece had to sell many of its profitable assets to oligarchs and international corporations. And privatisations are ruthless, involving everything and anything that is profitable. 
In Greece, privatisation included water, electricity, post offices, airport services, national banks, telecommunication, port authorities (which is huge in a country that is a world leader in shipping) etc.
In addition to that, the banker tyrants also get to dictate every single line item in the government’s budget. Want to cut military spending? NO! Want to raise tax on the oligarchs or big corporations? NO! Such micro-management is non-existent in any other creditor-debtor relationship.
So, what happens after privatisation and despotism under bankers? Of course, the government’s revenue goes down and the debt increases further. How does one fix that? Of course, cut spending! Lay off public workers, cut minimum wage, cut pensions (-same as our social security), cut public services, and raise taxes on things that would affect the 99% but not the 1%. 
Pensions have been cut in half and sales tax increased to more than 20%. All these measures have resulted in Greece going through a financial calamity that is worse than the Great Depression of the U.S. in the 1930's.
Of course, the ever-manipulative bankers demand immediate privatisation of all media which means that the country now gets photogenic TV anchors who spew propaganda every day and tell the people that crooked and greedy banksters are saviors and slavery under austerity is so much better than the alternative.[21.11.2015]
(60). DEFRAUDING PSU BANKS: During the last 4 years fraudsters have looted Rs.12,620 crores from PSU Banks. The latest case relates to an Ahmadabad base telecom company and its directors following a joint complaisant by SBI, Vijaya Bank and Canara Bank. Finance Ministry says that in most of the cases bank staff connive with the fraudsters. But one must not forget that political, bureaucratic and police convenience is always there in such cases. Even if the culprits are caught the cases in the court keep on pending for justice 15-25 years and even more. It embolden them.
Bank of Baroda lost Rs. 4000 crores to willful defaulters-fraudsters-scamsters who took loans from it. Standard Chartered Bank too saw its first ever loss in 26 years @ Rs. 10, 288 crore. This is the time the government should enact such strict laws which can recover all losses from the loan seeker and leave them cooling their heels behind the bars.[24.02.2016]
Just 60 companies are responsible for the heist of the 10 public banks. They owe more than Rs.10,000 crore. Essar Steel, Jaypee Infratech, Bhushan steel & Alok industries are the most significant names amongest the defaulters. This shows that the management is incapable-incompetent and is sitting over large assets. The gains are diverted else where, including foreign tax heaves. The share holder is deprived of the dividends by showing mounting losses, even if there is no loss, at all. The accounts books are cooked with the help of chartered accountancy firms. Officials at all levels are bribed. The booty is shared amongest the government officials, politicians etc.[26.02.2016]
VIJAY MALLYA :: The government will seek extra-diction of Vijay Mallya from UK. He is a big liquor-business baron who took loans from PSU banks to the tune of Rs.9,500 crore never to return. He has that  said he do not plan to return soon because of the fear that he may be taken straight to Tihar Jail from Delhi airport, like Sahara chief Subrata Roy. He is afraid that he may not emerge alive from Tihar Jail as well.  The government had sensed his attitude and taken steps for revocation of his passport and issuance of non-bailable arrest warrant against him. Supreme Court has shared the details of his assets with 17 PSU banks. The Honourable Supreme Court had noted that the big borrowers from the banks go Scot free while poor farmers and small borrowers are faced with suicide. There are more than 500 big borrowers in the country who just declared them selves as bankrupt and are enjoying life like heaven.[27.04.2016]
Parliament has passed a bill amending 4 different acts to empower banks to confiscate security in the case of loan default.The bill is called Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (amendment) Bill, 2016.[10.08.2016]
Expressing displeasure at Mallya not coming clean on disclosure of all his assets, including the  $40 million from Diageo; which he had allegedly received in February, in four weeks. Mallya in a statement, on his assets in India as on March 31, 2016, disclosed that he had Rs.16,440 as cash in hand. He also disclosed that by way of deposits in banks, he had an amount of Rs. 12.6 crore, which was under attachment by the Income Tax Department.[27.10.2016]
Non Performing assets of Banks during Congress regime were 82% and not 36%. The total advance made by banks rose from 18 Lakh crore to 52 Lakh crore, which means that 52 Lakh crores bank money was given to industrialists by the Congress government without guarantee. This is what the Congress did in 10 years, blatant loot & now compare this with 2G, CWG Coal and NH scams!
Nirav Modi defrauded Punjab national bank of more than 11,400 crore rupees, since 2011. a legacy of Congress and escaped like Lalit Modi, Vijay Mallya etc. His assets worth Rs. 5,100 crore have been attached.[17.02,2018]
(61). LAND ACQUISITION (भूमि अधिग्रहण) :: Agriculture had never been remunerative for poverty stricken farmers. Farmers are committing suicides due to burden of debt, drop failure, un timely rains, famines etc. He mortgage land to obtain loans and he is often compelled to sell it off, against his will.
Delhi's population has grown from 5 lakh to 1.5 crore. It has has grown out of proportions leading to development of cities around Delhi leading to the formation of National Capital Region. Mumbai grew into Nai-Navi Mumbai. Pune has grown into a city extending up to 50-60 km on either side of the highways. Its the same case with all the metros ad major cities and towns in India.
India has been slowly but gradually-steadily turning into an industrial country leaving aside its image as an agrarian economy. It has led to astronomical increase in the prices of the land. One has seen the acquisition of land in Munirka, New Delhi, Ghaziabad, Buland Shahr and Noida. Allahabad High Court fixed the land prices as do taka-do paise-adhanna in 1992. Land was acquired at 6 anna (दो टका, दो पैसा, अधन्ना) in Noida in 1976. Since, 1976 the villagers have obtained compensation thrice. Those who could not manage a square meal are now roaming in land rovers in white kurta and paizama (कुर्ता पायजामा). Its not all, they have multi storied buildings, earning them monthly rental income in millions, from the properties built against all rules and regulations. 
Most of the subsequent governments are to be blamed for the forgery-fraudulent activities pertaining to land acquisition under Congress and UPA. They acquired land for systematic development-growth but allotted it to land sharks-politicians-industrialists against all norms. Now, the same people are championing the cause of farmers.It will be difficult for the NDA-BJP government to come out clear, out of this mud slinging.
(62). LOWERING OF INTEREST RATES OVER BANK DEPOSITS :: Atal Bihari Vajpayee's government reduced the interest rates by one and a half percent to just 3.5. The benefit was transferred to the industrialist, who is in a habit of doing business with the help of others resources. It's not all, they prefer to hold back the installments. Why should the funding to any one, be made at the cost of the poor-hand to mouth, who try to save money for buying a house, his daughters marriage, for higher education of his son!? The minimum return over the bank deposits should be 5%. The longer the term, the higher should be rate of interest, like 6% for 2 years, 7% for 3 years, 8% for 4 years and 9% for 5 years. There after the rate of interest should be fixed at 10% to 15%. This will surely boost the economy, with the funds recycling regularly and enhancing the purchasing power of the common man (-not mango man or Aam Admi of AAP).
Lowering of landing rates during the last 10 years benefited the fraudulent industrialist only. Bank employees, who sanctioned the loans, too benefited along with the politicians.
Lowering of interest rates is not going to boost housing industry, since the present phase has its deep association with the black money invested in housing projects, all over India and abroad. During recent months one after another disclosures-scams-scandals proved the point.
Low return from the bank deposits-savings as well fixed, forces-compels the poor to earn slightly more, through ponzi schemes, where he loss each & every penny of his hard earned money. Earlier most of them did not have asses to banks. Banks run by co-operatives societies too dupe the depositors. Nationalised banks forward the loans to high end fraudulent loan seekers. These banks invest their money in projects-assets which are non performing. Mutual funds and investment in stocks too is dangerous. Millions of people burnt their hands in major stock exchange frauds. The only safe mode for the poor is government controlled banks. Who so ever talks of lowering the bank rates talks of harming the poor.[15.12.2014]
(63). One should never depend on single earning. He should always try to supplement his income through other pious-honest-gentle means, side by side. He should not buy the things-goods-commodities, if he do not need them. In due course of time, such things may turn into eye sores, occupy space in the house unnecessarily and one may be compelled to dispose them off as waste. One should make it a habit to save and spend, whatever is left over after saving at least 1/6th of his income. He should spend what ever is left after savings. One should not wait to save what is left after spending. One should make investments in various instruments, if there is surplus saving, like fixed deposits, debentures, shares, gold, land, governments bonds. One should never opt for the Ponzy schemes. Be content with the safe deposits in government banks. Thinks twice before making huge deposits in co operative banks. Do not put all eggs in one basket. Never take a chance in the share market, come out of it immediately, as soon as signs of danger are seen. Share market is always a risky option. never invest borrowed money in the stock exchange. never believe the tall claims of the capitalist. Today's, business world do not have faith in words like honesty. But always have faith in honesty on your own side and be cautious about the other side. Tricksters, cheaters, fraudsters have flooded the business world.  Always repay your loans at the first opportunity. Never use credit cards.
(64). BEARS OF STOCK MARKET :: India's stock market suffered biggest ever loss of 1644 points on a single day's trading leaving the investors poorer by 7,00,000 Lakh Crore rupees. Rupee lost 86 paise to the the american dollar. It all happened  in spite of  India's sound progressive economy-credentials, proving thereby that one should never rely over his investments in the share market. However the market recovered the losses on Tuesday. The episode is a fall  out of the failure of Chinese economy over burdened with government control and over production of inferior goods. China dreams of controlling most of Asian markets-economies through threats, military interference. Greek episode also has a lot to say. There are local factors which make the investors suspect the stock market. Indian companies cook up-manipulate results, pay exorbitant salaries to the promoters sucking all profits. Fraud companies arise overnight and vanish too quickly after cheating the public, government banks, public sector enterprises. Most of the so called companies are doing business with the borrowed funds, always leaving the burden over the unsuspecting investors. The promoters are quick to withdraw their money as soon as possible. Labour unions-communists-Nexalites make it extremely difficult to do business. Companies with extremely good credentials like Kesoram and Dunlap have been subjected to closure. government has to rethink in terms of companies laws to grant more freedom from red tape.[26.08.2015]
(65). PUBLIC DEBT :: Public debt has increased by 3.5% over the April-June  period of current fiscal year, in the first quarter of FY 2016.The situation has not improved by any account over the years. The debt burden is increasing continuously in spite of change of government at the center. Man Mohan Singh's government had pledged India entire gold reserves with England to save the situation at one point of time. This grim situations occurs due to subsidies like subsidized food to parliamentarians. Fixation of crop prices, subsidies, over expenditure and ever increasing bill of the fat salaries of the elected representatives to parliamentarian, assemblies, councils etc. Huge sums are spent over the suits filed in the courts by the government, defunct committees appointed by the government, inquiry commissions which do not find any acceptance. Public sector enterprises like Air-India are real burden over the exchequer. If the successive governments do not wake up, situation like Greece may be ready for the country.[19.09.2015]
(66). ECONOMIC EMERGENCY IN VENEZUELA-INFLATION AT 720% :: Venezuela is sitting over the world's largest reservoirs of oil. People are unable to buy a bottle of water and collect it from the mountain, where it trickles out on to the highway. Factories have been closed. Earlier Zimbabwe had faced such a situation. Indonesia has mustered to come out of the difficult situation. Imprudence, over expenditure, dependence over one source for economic growth may be the factors behind this typical situation, since it more or less depended over the oil earnings.[10.02,2016]
(67). BAD LOANS RESULTS IN ECONOMIC SLOW DOWN IN INDIA :: Three government owned banks: Central bank, Dena bank and  Allahabad bank; have slipped into red due to non performing assets and uncovered loans from the large borrowers-business houses-willful defaulters. In today's situation the banks can not hide losses. The estimated stressed bank debts stand around whopping 8 Lakh crore rupees. The Punjab National Bank has narrowly skipped the list. The government is not willing to frame such rules, laws & legislature; which can prevent the borrower from withholding the return of loans. As a first step non bailable warrants should be issued against the big borrowers. All their assets including the one's belonging to family members and those ones which are Benami-in bogus names, should be acquired by the government. Those bank officials who sanctioned loans to the defaulters should be imprisoned and should not be bailed out till they come out clean.[10.02.2016]
(68). FOREIGN INSTITUTIONAL INVESTORS :: With the click of mouse Rs.13,000 Crore goes out of India. This is what is happening in India. The decision to allow this is fundamentally like allowing Coke, Pepsi, & McDonald to operate in India. These companies are not essential for India's growth. They do not contribute to the financial growth of India. These financial investors not only destabilize the Indian currency. They create terror in the minds of businessmen. They artificially maneuver the stock market, steal inside information, over value the stocks, earn profits and withdraw with the sneeze in China or Taiwan. Stock market is nothing but  a den of gamblers. Only the seasoned players make money there and that is through crooked means, frauds and cheating. [10.02.2016]
(69). BIGGEST QUARTERLY LOSS BY IDBI :: It has reported a loss of Rs.2,184 crore during Oct.-Dec.2015. This is yet another institution managed by the government plagued by corruption, mismanagement, nepotism, favoritism and various other grievous factors.  Previous government allowed loot of the exchequer and became a party to it. Gross non performing assets have soared by 61% to Rs.19,615 crore. It advanced huge sums to big corporate houses who too are either reluctant to pay, or are unable to do so. The government is hesitant to recover the money due to weak laws and loop holes in them. The money received by big business house has been diverted to tax heavens.[13.02.2016]
(70). BANKRUPT TAX HEAVEN JERSEY :: Its said that tax heavens are those countries, where the taxes levied at the national level are too low. Generally they are non-sovereign jurisdictions-a part of larger country. Cayman Islands, British Virgin Islands and the oldest amongest them is the island of Jersey, 19 miles from France & 85 miles from England. Its neither a country nor a part of some other country. It is half British, half something else, 45 miles of self governing territory surrounded by waters on all sides. Jersey set its own tax rates, which were so low that finance companies flocked there, followed by banks and individuals. Its now under huge budgetary burden turning into a deep rooted crises. EU has said that all members and those who want an assess to EU markets must tax foreign companies. Lowering of taxes on foreign companies led to significant tax collection decline and thus budgetary problems. Jersey's economy, which used to thrive on tourism and agriculture suffered due to the collections from finance by way of returns. The other legs of the economy suffered and the island is in deep crises now. [06.03.2016]
(71). AGRICULTURAL INCOME :: The income tax department did not bother to find out how could she can earn Rs.125 crore from just 10 acres of land?! Her father had been a cabinet minister in  the congress government for years and leader of an opposition party.?! The man in question was a co accused in Abdul Kareem Telgi case of printing and circulating counterfeit currency and stamp papers. He wanted to become prime minister of India as well.
She is not the only culprit, there are thousands of businessmen, politicians, bureaucrats, film actors etc., who have been cheating the country for decades. During the financial year 2011-2012 declared agricultural income was Rs.2,000 crores, which is 6 times the gross domestic product of India. How did this anomaly occur and went unnoticed?! A writ has been filed in the Patna high court to pray for the investigation of this fraud. Many MNC's too are part of this scandal. India is a country where land ceiling exists. During the financial year the so called farmers cheated the exchequer of more than Rs.10,000 crores. On one hand the farmers are committing suicide due to un paid loans and low out put & simultaneously the crooks are defrauding the country and generating huge amounts of black money and then convert it back into genuine money.
(72). REAL ESTATE (REGULATION & DEVELOPMENT) ACT :: The act has come into force today to protect the consumers against the exploitation by the builders.The builders are notorious people who do not deliver the project as promised by them at the time of booking. They add hundreds of hidden charges. They do not forget adding a clause due to which the buyer will have to bear the enhanced cost due to escalating in material costs which is purely the fault and responsibility of the builder and the authority which has made the allotment of the plot for the purpose. Its curious that the project comes and and the basic facilities like water, electricity, public transport are missing. 
There are cases when the buyers had to commit suicide due to late delivery of the flats. Just see what happens to one who lost his job and has to pay for the EMI, house rent and maintain the family side by side. Most of the developers have a dubious tack record and checkered past.they have multiple criminal cases against them. Please refer to :: FRAUDULENT BUILDERS :: ANSAL API SUSHANT MEGAPOLIS GREATER NOIDA   bhartiyshiksha.blogspot.com  &  FRAUDS BY PROPERTY DEVELOPERS  OM KRISHANA DEVELOPERS-DELHI-NEEM RANA   bhartiyshiksha.blogspot.com    
(73). ADANI GROUP :: Adani Group headed by Gautom Adani has largest loan of Rs.73,000 crores from the Public Sector Banks. This amount equals the total loans granted to the farmers. Gautom Adani has been seen hovering where ever the Prime Minister Modi was there. Lanko, GVK, Suzlon, HCC are among the five biggest borrowers. Adani may turn out to be another Mallya. There is no rational behind granting such huge loans to any one. There must be a credit limit which is never over and above the total corporate and personal assets of the borrowers. Those who plough back the funds abroad must be brought to book immediately and imprisoned till the whole money is not recovered from them.[06.05.2016]
(74.1). INSOLVENCY & BANKRUPTCY LAW :: There are thousands and thousands of big borrowers who take loans and divert them to other uses including investing abroad and tax heavens. They live like kings even after insolvency and declaring them selves as bankrupt! How does it happen?! Simple the law is not against them. On 11th of May 2016, the parliament gave its assent to Insolvency and Bankruptcy Law. This is one of the most important economic legislation which the country badly needed for long. The government should ascertain that the cheat does not go Scot free. All his assets should be brought to auction, so that all such people learn lessons. They should be imprisoned for life thereafter.[13.05.2016]
(74.2). The market regulator SEBI has notified rules aimed at banning wilful defaulters from raising money from the markets.The government and the RBI are fighting the menace that is to some extent responsible for pile up no-performing assets mainly of public sector banks.The RBI has done well by forcing the public sector banks to declare the willful defaulters names and the non-performing assets.[27.05.2016]
(74.3). Over 8100 wilful defaulters owe banks an amount of Rs. 76,685 crores. 1,724 FIRs have been filed during 2015-16. [20.07.2016] 
(75). Once you are elevated to the high office of finance ministry, you start behaving as an expert, even if you do not know the abc... of economics and finance. So called economist Man Mohan Singh mortgaged India's gold reserves and now it the turn of Arun Jaitley who wish to tap RBI's reserves to recap banks. He is a Modi favourite due to his WHEEDLING-flattering-buttering (चापलूसी) tactics. He is not a public favourite as well like Man Mohan Singh. Why do not he recover the loans granted to thousands of cheaters by the banks? Why do not he bring legislature to recover the funds given to the industrialists like Adani?! Its a good idea to have a committee of experts to guide the governor of RBI in day to day working instead of receiving instructions from finance Minister or the prime Minister directly.[26.07.2016]
(76). DISINVESTMENT IN PUBLIC SECTOR UNDERTAKINGS (PSU'S) :: Nehru was impressed with the discarded Russian model of progress having inclination to socialistic-communist philosophy. Indian businessmen did not have sufficient funds to invest in heavy industries. India was in need of mass employment and industrial progress. Roads, irrigation, waterways, railways, aerospace, defence all needed heavy investment. It led to investment by the government in heavy industries and public sector undertakings. Corruption, nepotism, lack of devotion, political interference marred (बिगाड़ना, दूषित करना, हानि करना) the progress and success of these industries. Businessmen kept on becoming fat fatter and fattest but PSU'S continued incurring heavy losses due to lack of proper planning and mismanagement. Private sector was favoured at the cost of public sector. Some sectors were heavily subsidised like fertilisers, gas-kerosin-petroleum, railways. It lacked proper auditing. Imports were allowed even though domestic production existed. No weightage was given to quality at any stage. No effort was made to improve the working of these industries. Banks were forced to allowed dubious transactions and grant loans to the habitual defaulters. Serious efforts were never made to recover loans from big wigs. No limit has been fixed for loans to individual industries-persons like Adani. Profit & loss accounts are manipulated and losses are shown to save taxes. Funds are allowed to be transferred to other non entitled companies. People like Vijay Mallya are allowed to leave the country without trouble. Money is allowed to sink. Hundred of dubious deals have surfaced during the previous regimes and the present regime can not claim to be 100% neat & clean. Experience shows that when ever PSU'S are sold pricing is done in such a way that the buyers always benefit from the deals. Its not that only the buyers gain, the middlemen, politicians, bankers too pocket national money. Black money is created and successfully transferred else where. The present regime is willing to sell more than 20 PSU'S out of which 10 are profit making due to controlled pricing.
(77). Indian banking sector's dark secrets are revealed by the Supreme Court. There are 57 defaulters who owe Rs. 85,000 crore to the banks. Why the government do not disclose their names and recover the tax payers hard earned money ?! The government which boasts of recovering black money from abroad is unable to recover its own money in India! What is there to save the defaulters? Let them be arrested and imprisoned and all their assets confiscated.
द्वयोस्त्रयाणां पञ्चानां मध्ये गुल्ममधिष्ठितम्। 
तथा ग्रामशतानां च कुर्याद्राष्ट्रस्य सङ्ग्रहम्मनु स्मृति:7.114॥
दो या तीन या पाँच या सौ गॉँवों के बीच में राज्य की रक्षा के लिए रक्षक समूह नियुक्त करे। 
The king should establish police posts, police stations, sub divisions and district level police stations,  for the safety-protection of villages constituting 2, 3, 5 and 100 villages.
ग्रामस्याधिपतिं कुर्याद्दशग्रामपतिं तथा। विंशतीशं शतेशं च सहस्रपतिमेव चमनु स्मृति: 7.115॥
प्रत्येक ग्राम में एक-एक अधिकारी नियुक्त करे, फिर दस, बीस और सहस्त्र गाँवों का एक-एक पृथक अधिकारी नियुक्त करे। The king should appoint one officer for each village. Thereafter there should be a head over ten villages. For a block of twenty villages here should be another head. For a group of one thousand villages another head should be appointed.
In this way he has to appoint, cluster officers, block development officers, district officers, to carry out the administration efficiently. 
ग्रामदोषान् समुत्पन्नान् ग्रामिकः शनकैः स्वयम्। 
शंसेद्ग्रामदशेशाय दशेशो विंशतीशिनेमनु स्मृति: 7.116॥
विंशतीशस्तु तत्सर्वं शतेशाय निवेदयेत्। शंसेद् ग्रामशतेशस्तु सहस्रपतये स्वयम्मनु स्मृति: 7.117॥
उत्पन्न हुए ग्राम के दोषों को यदि ग्रामाधिकारी निवारण करने में असमर्थ हो तो उसके शमन के लिये ग्रामाधिपति देशग्रामाधिपति से कहे। यदि वह उसका उपाय न करे, तो वह विंशति ग्रामाधिकारी से कहे, उसी प्रकार उत्तरोत्तर विंशतिपति, शतपति, सहस्रपति से निवेदन करे। 
The village head should report to the seniors, if he is unable to take remedial measures for solving problems faced by the villagers. In this manner the immediate head should request his seniors till the head of one thousand villages.
The immediate village head has to look after administration, police & judiciary. A sequence of 10, 20, 100 and 1,000 villages heads has to be adopted for efficient administration.
The villages in India used to function as self sufficient economic entity. They used to have priests, sweepers, carpenters, smiths, shoe makers, potters, washer man, shop keepers etc. The farmer used to pay them on daily, weekly, monthly or annual basis. He used to pay one sixth of his crops, earnings as revenue to the king.
यानि राजप्रदेयानि प्रत्यहं ग्रामवासिभिः। अन्नपानेन्धनादीनि ग्रामिकस्तान्यवाप्नुयात्मनु स्मृति: 7.118॥
ग्रामवासियों से प्रतिदिन जो कुछ अन्न, पान, ईंधन आदि राजा को देने के लिये दिया जाये, वह ग्रामाधिपति अपनी वृत्ति के लिये ले। 
The head of the village should collect food grain, betel leaves, fuel etc. from the villagers on daily basis so that he get paid from the exchequer.
Normally such items can not be stored on large scale. Therefore, they are sold if found surplus and the money deposited in the treasury. The village headman may get salary on regular basis or as a part of the collections sanctioned by the king.
दशी कुलं तु भुञ्जीत विंशी पञ्च कुलानि च। ग्रामं ग्रामशताध्यक्षः सहस्राधिपतिः पुरम्मनु स्मृति: 7.119॥
दस ग्रामाधिपति एक कुल को, बीस गाँवों का अधिपति पाँच कुल को, सौ गाँवों का अधिपति एक गाँव को और सहस्राधिपति एक साधारण नगर को राजाज्ञा से अपने निर्वाह के लिये ले। 
अष्टागवं धर्महलं षड्गवं जीवितार्थिनाम्। चतुर्गवं गृहस्थानां त्रिगवं ब्रह्मघातिनाम्  
छः बैलों का एक मध्यम हल होता है। ऐसे दो हलों से जितनी भूमि जोति जाये उसे कुल कहते हैं।
KUL :: The land ploughed-cultivated by 6 bullocks with two ploughs by a farmer in ancient villages.
The headman-superintendent  of 10 villages is entitled to the revenue collection from a KUL-the land ploughed-cultivated by 6 bullocks with two ploughs, headman of 20 villages is entitled for the revenues of 5 KUL, the headman of 100 villages is entitled for the revenue collection of one villages while the headman of 1,000 villages gets the revenues collected from a normal-ordinary city-town.
तेषां ग्राम्याणि कार्याणि  पृथक्कार्याणि चैव हि। 
राज्ञोऽन्यः सचिवः स्निग्धस्तानि पश्येदतन्द्रितःमनु स्मृति:7.120॥
उन ग्रामों के निवासियों के परस्पर किये हुए कार्यों को और अलग किये हुए कार्यों को राजा के हित साधन में नियुक्त मंत्री को आलस्य रहित होकर देखना चाहिये। 
The minister appointed for the purpose of supervising the endeavours, businesses, industry, artisans, farmers-cultivators of the populace individually-separately or in groups; should keep a close watch, without sluggishness-laziness.
It helps in keeping a close watch over flow of revenues, money circulation and collection of taxes.
नगरे नगरे चैकं कुर्यात्सर्वार्थचिन्तकम्। उच्चैः स्थानं घोररूपं नक्षत्राणामिव ग्रहम्॥मनु स्मृति:7.121॥
प्रत्येक नगर में सभी प्रकार के कार्यों को देखने वाले घोर-कठोर दिखने वाले (जिनसे लोग भय खायें) अधिकारी नियुक्त करे, जैसे नक्षत्रों में शुक्र आदि ग्रह। 
The king should appoint such officers in each city who are formidable, effective, alert, disciplined and bright who can easily control the populace. The roughs should be afraid of him. His personality should resemble the Venus which is bright and shinning, planet.
Comparing him with the Guru Shukrachary, public should be ready-eager to follow him.
FORMIDABLE :: दुर्जेय, विकट, भयंकर, घोर, दारूण, भयावह, डरावना; knotty, inextricable, acute, monstrous, grim, fierce, awful, hideous, horrid, frightful, atrocious, terrible, eerie, awful, horrible, doleful,  ghastful, God-forsaken, macabre, terrifically, alarming, Fearsome, grisly, gruesome.
स ताननुपरिक्रामेत्सर्वानेव सदा स्वयम्। तेषां वृत्तं परिणयेत्सम्यग्राष्ट्रेषु तत्चरैःमनु स्मृति:7.122॥
वह अधिकारी उन सब ग्रामाधिकारियों की सदा स्वयं देखभाल करे और अपने गुप्तचरों द्वारा सभी पदाधिकारियों के और प्रजाओं के आचार-विचार, व्यवहार को अच्छी तरह जाने।
The fierce-tough officer should himself keep a close watch over the his subordinates and keep himself acknowledged about the behaviour-reactions of the public with the help of spies (detectives, policemen). 
राज्ञो हि रक्षाधिकृताः परस्वादायिनः शठाः। 
भृत्या भवन्ति प्रायेण तेभ्यो रक्षेदिमाः प्रजाः॥मनु स्मृति:7.123॥
क्योंकि प्रायः राजा के वे रक्षाधिकारी अधिकतर दूसरे के धन को हरण करने वाले और वञ्चक होते हैं, इसलिये राजा उन लोगों से प्रजाओं की रक्षा करे। 
The king should himself keep a close watch over these officials since they turn fraudulent (cheat, swindle) and protect the public from their atrocities.
The British crown failed to protect the Indian masses from their officials who took away trillions to England after looting them. Almost all Muslim traitor-invader did that. In today's context almost all successive governments had fraudulent ministers, officials, judges. The previous regime of the Congress party crossed all limits, since it had a dummy prime minister. The government in fact was run by an Italian. Maha Nand and one of the last Mughal rulers turned cheat who themselves swindled the treasure. The present Modi government too has ministers of doubtful integrity, who have several allegations them. Mamata, Maya, Jay Lata, Shashi Kala, Indira are the names of women rulers who left the male counter parts far-far behind them in corruption.
ये कार्यिकेभ्योऽर्थमेव गृह्णीयुः पापचेतसः। तेषां सर्वस्वमादाय राजा कुर्यात्प्रवासनम्मनु स्मृति:7.124॥
जो पापात्मा कर्मचारी कर्मचारियों से घूस ले राजा उनका सर्वस्व हरण करे, उन्हें अपने देश से निकाले। 
The king expel the employee from his country, who collects bribes from the other employees (servants-officials) after snatching everything they belong-possess.
The CBI court sentenced Lalu to  31/2 years imprisonment for the fodder scam for withdrawing 89 crores from the treasury. He should have ordered confiscation of all of his properties including those belonging to his immediate relatives, kith & kin. All properties belonging to Jaya & Shashi Kala deserve to be confiscated and taken over by the state.
राजा कर्मसु युक्तानां स्त्रीणां प्रेष्यजनस्य च। 
प्रत्यहं कल्पयेद् वृत्तिं स्थानं कर्मानुरूपतःमनु स्मृति:7.125॥
राजा कार्यों में नियुक्त दास-दासियों को उनके कर्म के अनुसार प्रतिदिन वृत्ति और पद निश्चित करे। The king should fix salary on daily basis and status (post, rank) of all those working for him or the state. 
The term slave is used for the workers here, which clarify the myth pertaining to slavery.
पणो देयोऽवकृष्टस्य षडुत्कृष्टस्य वेतनम्। षाण्मासिकस्तथाऽच्छादो धान्यद्रोणस्तु मासिकःमनु स्मृति:7.126॥
नीच कर्म करने वाले को एक पण और अच्छे करने वाले को प्रतिदिन छः पण, प्रत्येक मास एक द्रोण अन्न तथा छः महीने पर दो वस्त्र देने चाहिये।
The worker who perform low level jobs (sweepers, scavengers, cleaners) should be paid one coin and 6 coins should be paid to those who perform higher level jobs, everyday. In addition to that one Dron food grain be offered every month and 2 set of uniforms should be given every year depending upon weather-season to all of them.
अष्टमुष्टिर्भवेत किञ्चित् किंचिदष्टा च पुष्कलम्। 
पुष्कलानि तु चत्वारि आढक: परिकीर्तितः। चतुराढको भवेद् द्रोण...। 
आठ मुट्ठी का एक किंचित, आठ किंचित का एक पुष्कल, चार पुष्कल का एक आढ़क और चार आढ़क का एक द्रोण होता है। 
क्रयविक्रयमध्वानं भक्तं च सपरिव्ययम्। योगक्षेमं च संप्रेक्ष्य वणिजो दापयेत्करान्॥मनु स्मृति:7.127॥
व्यापारी के माल की खरीद और बिक्री तथा पूरा खाने-पीने का खर्च, माल की हिफाजत में जो खर्च हुआ, इन सब बातों का विचार करके राजा उनसे कर ले।
The state-king should levy taxes over the businessmen, industrialist, traders only after calculating the expenditure over buying-selling prices, expanses over management (eating, travel, storage, safety) etc.
The Indian government changed local (LST) & central (CST) taxes to VAT and now it has changed them to goods & services tax GST. The fact remains that the traders charge exorbitant prices from the helpless consumers, charge all taxes but never deposit them in the treasury. General public is over burdened with ever increasing & newer taxes after taxes. The traders-business community go Scot free, even after making multiple investments, buying house, shops, cars etc. etc. The producer prints almost double prices as MRP. Groceries  are sold at almost 30-40% higher prices as compared to whole sate prices. Medicines have almost double the printed MRP. The farmers sell their produce at prices which are some times 100-1000 times lower than the retail prices in the market. It all happens due to the nexus between the traders, police, bureaucracy and the politicians. The judiciary is not far behind, since it grants bail immediately as soon as a cheat is produced before it and then dates after dates, till whole evidence is lost and the trader is released with honour.
यथा फलेन युज्येत राजा कर्ता च कर्मणाम्। तथावेक्ष्य नृपो राष्ट्रं कल्पयेत्सततं करान्मनु स्मृति:7.128॥
जिससे राजा और व्यापार तथा कृषि आदि करने वालों, व्यवसाइयों को लाभ मिले, इसका विचार करके राजा सदा कर की कल्पना करे। 
Taxes should be imposed-levied only after due consideration to mutually benefit the state, businessmen, farmers and the entrepreneurs.
The state should protect the local market, industrialist, farmers by imposing hefty taxes over scrupulous imports. If a good quality products is manufactured locally, its import should be banned completely. The government should ensure an dependent economy, by encouraging manufacture of aeroplanes, rail engines, cars, arms and ammunition, metro trains, lap tops, mobiles etc. etc. Local talent must be encouraged and protected. Low quality goods imported from China should be banned at once.
यथाल्पाल्पमदन्त्याद्यं वार्योकोवत्सषट्पदाः। 
तथाल्पाल्पो ग्रहीतव्यो राष्ट्राद्राज्ञाब्दिकः करःमनु स्मृति: 7.129॥
जिस प्रकार जोंक, बछड़ा और भ्रमर थोड़ा-थोड़ा कर अपना भक्ष्य खाते हैं, उसी प्रकार राजा को प्रजाओं से थोड़ा-थोड़ा हो वार्षिक कर लेना चाहिये। 
The king (state, exchequer) should draw from his realm, moderate annual taxes, just as the leech, the calf and the bee take their food bit by bit as little as possible.
Taxes in Inida are enormous and are pocketed by the unscrupulous politicians through fraud, tricky, cheating. The taxes levied on cars and petroleum products are almost near the manufacturing prices. The government wastes a big chunk of taxes on subsidies to those who are not entitled for this. It wish the populace to continue begging. There is lack of desire to make the populace self sufficient, independent. One who gets salaried income, is left with 1-2% of it, to spend over his future betterment.
पञ्चाशद्भाग आदेयो राज्ञा पशुहिरण्ययोः। धान्यानामष्टमो भागः षष्ठो द्वादश एव वामनु स्मृति: 7.130॥
राजा को व्यापरियों से पशु और सोने के लाभ का पचासवाँ भाग और कृषकों से अन्न का छटा, आठवाँ या बारहवाँ भाग लेना चाहिये। 
The king-state has to collect fifty percent of the selling price as the revenue-tax from the cattle & gold traders. He should collect 1/6th, 1/8th or 1/12th of the farm proceeds from the farmers (cultivators, horticulturists).
The farmers with small holding may be exempted from paying taxes. During natural calamities the king has to support the countrymen. No tax has to be levied-collected at all. Revenue is collected at increasing rates depending upon the cultivated land, availability of water etc.
आददीताथ षड्भागं द्रुमान् समधुसर्पिषाम्। गन्धौषधिरसानां च पुष्पमूलफलस्य चमनु स्मृति: 7.131॥
पत्रशाकतृणानां च चर्मणां वै दलस्य च। मृन्मयानां च भाण्डानां सर्वस्याश्ममयस्य चमनु स्मृति: 7.132॥
पेड़, माँस, मधु, घी, गन्ध, औषधि, रस, फूल, फल, कन्दमूल, पत्ते, साग, तृण, चमड़ा, बाँस के बर्तन, मिट्टी और पत्थर के बर्तन; इन सबके लाभ का छटा भाग लेना चाहिये। 
Taxes have to collected at the rate of 1/6th of the profit-gain made over trees, meat, honey-extracts, Ghee-clarified butter, perfumes, medicinal herbs, juices-extracts (& substances used for flavouring food), flowers, roots (rhizomes, bulbs) and fruit; vegetables-leaves, straw used for feeding animals-grass, objects made of bamboo-cane, leather-skins, earthen ware-vessels (backed bricks) and all articles (artefacts, statues, idols) made of stone.
Under the current scenario the farmer is mercilessly exploited by the traders, businessmen who buy their produce at through away prices and make mercurial gain. The government is absolutely a failure due to corruption and internal reasons. The end user too is not spared, since he has to to exorbitant prices sometimes as high as 50-100 times more than the remuneration to the producers. This is anarchy-open loot.
यत्किञ्चिदपि वर्षस्य दापयेत्क  रसंज्ञितम्। व्यवहारेण जीवन्तं राजा राष्ट्रे पृथग्जनम्मनु स्मृति: 7.137॥
राजा अपने राज्य में छोटे व्यापार से जीने वाले व्यापारियों से भी कुछ न कुछ वार्षिक कर लिया करे। 
The king should collect revenue-tax from the small businessmen carrying out trading-business in his territory, annually which may be negligible in value.
However those who earn handsomely must be taxed accordingly.
कारुकान्शिल्पिनश्चैव शूद्रांश्चात्मोपजीविनः। 
एकैकं कारयेत्कर्म मासि मासि महीपतिःमनु स्मृति: 7.138॥
कारीगरी का काम करके जीने वाले, लोहार, बेलदार और बोझा धोने वाले आदि मजदूरों से कर स्वरूप महीने में एक दिन काम करा ले। 
The king make it mandatory for the mechanics-skilled personal, artisans-labourers, black smiths, daily wagers etc. to work for him for a day every month as tax.
The country is carrying enormous burden of debt and still millions are wasted over subsidies over those who are physically fit, healthy, capable but unwilling to work, whose unemployment is voluntary. The government waste millions over the pensions to those who have obtained certificated fraudulently to have worked for the freedom of the country. There are thousands of loop holes which need to be plugged. 
The country will progress when each and every one contribute for its welfare. Beggars can not contribute any thing except miseries.
नोच्छिन्द्यादात्मनो मूलं परेषां चातितृष्णया। उच्छिन्दन्ह्यात्मनो मूलमात्मानं तांश्च पीडयेत्॥मनु स्मृति: 7.139॥
कर न लेकर अपने मूल का उच्छेद न करे और अधिक लोभवश प्रजा का भी मूलोच्छेद न करे क्योंकि अपने और उनके मूलोच्छेद से स्वयं और प्रजा को पीड़ा होती है।
The should neither adopt no tax or heavy tax policy, since no tax policy with abolish him and heavy tax policy due to greed will torture-ruin the general public. In either case ultimate sufferer is the king, since the public will flee the kingdom under heavy-unreasonable taxes and the kingdom will loose its identity.

तीक्ष्णश्चैव मृदुश्च स्यात्कार्यं वीक्ष्य महीपतिः। तीक्ष्णश्चैव मृदुश्चैव राजा भवति सम्मतः॥मनु स्मृति: 7.140॥
कार्य को देखकर कोमल और कठोर होना चाहिये, क्योंकि समयानुसार राजा को कोमल या कठोर होना सभी के हिट में होता है। The king should adopt the policy of being soft or tough according to the gravity of the task. However sometimes the king may be compelled to become harsh, which is essential depending upon the situation. In general one should be moderate like the strings of a music instruments having wires, which are neither too loose nor too tight.
अमात्यमुख्यं धर्मज्ञं प्राज्ञं दान्तं कुलोद्गतम्। स्थापयेदासने तस्मिन्खिन्नः कार्येक्षणे नृणाम्॥मनु स्मृति: 7.141॥
यदि प्रजाओं का कार्य देखने में मन न लगता हो तो राजा अपने स्थान पर धर्मज्ञ, प्रवीण, जितेन्द्रिय, सत्यशील, कुलीन और श्रेष्ठ मंत्री को नियुक्त करे।
If the king do not find it interesting to look after the development work-tasks meant for the well being of the populace, he may delegate the task to some virtuous, expert, having control over sensuality, truthful, belonging to a noble family and the best minister. Its the duty of the king to supervise the welfare works for the state. He may take rounds in the absence of the workers, check quality etc. This will keep the workers alert and on their foot.

एवं सर्वं विधायेदमितिकर्तव्यमात्मनः। युक्तश्चैवाप्रमत्तश्च परिरक्षेदिमाः प्रजाःमनु स्मृति: 7.142॥
इस प्रकार अपने कार्यों-कर्तव्यों की व्यवस्था करके दक्षता और सावधानी के साथ अपनी प्रजा की रक्षा करे। 
Its the earnest duty of the king to protect-take care of his citizens-subjects with zeal, skillfully. 
विक्रोशन्त्यो यस्य राष्ट्राद् ध्रियन्ते दस्युभिः प्रजाः। सम्पश्यतः सभृत्यस्य मृतः स न तु जीवतिमनु स्मृति: 7.143॥
जिस राज्य में राजा और मंत्रियों के सामने राज्य की प्रजा रक्षा के लिये चिल्लाती हुई भी डाकुओं से लुट जाती है वह राजा जीता हुआ भी मरे हुए के समान है। 
The king is like a dead, in whose empire the populace is looted (cheated, defrauded, subjected to tortures-atrocities) in front of the king and the ministers by the decoits.
Previous regime of Man Mohan Singh subjected the populace to loot and exploitation by the businessmen, congress party head and its ministers. The subjects were left high & dry. It led to rise of Modi, who himself is not that capable as was projected. The tax rates are high, multiple taxes over same commodity continue to be there. Some of his ministers are tainted and do not enjoy good reputation. His partners from other parties are grossly incapable and deserve to be dropped at the first opportunity or at least their portfolios need to be switched to lesser significant departments like Paswan.
क्षत्रियस्य परो धर्मः प्रजानामेव पालनम्। निर्दिष्टफलभोक्ता हि राजा धर्मेण युज्यतेमनु स्मृति: 7.144॥
क्षत्रिय का परम धर्म प्रजाओं का पालन करना ही है, क्योंकि प्रजाओं से निर्दिष्ट फल भोगने के कारण राजा उस धर्म से संबध्द होता है।  
Its the pious duty of the  ruler to serve the populace (citizens, subjects) since he is placed to that high office by the common masses only. 

The non deserving from inferior castes too reach high positions in the administration but do not shun their low mentality and indulge in corruption. Any one who reach a office in administration no more is a Dalit, low caste, scheduled tribe or scheduled caste. He has to be dealt like ordinary civilians-masses the so called general category. Why this tag even after amassing wealth to the tune of 900-5000 crore rupees, may it be Khadge, Karuna or Maya-Mulayam-Lalu?!!



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