It is very difficult to do business in India, says an Independent survey. I would have resisted saying that it is very easy to do frauds in India, but satyam case has given me the strength to say that. Now, CLB (Company Law Board) has given immunity to Government appointed Directors. It was need of the hour. The Companies Act 1956, do not show any leniency to past or present Directors for breach of any Indian Law including a petty cheque bounce.
Without doubting anybody’s mettle and intentions, I wish Directors should conduct business in transparent way, at least now. In India, Directors role is to bury fraud? That’s why I call one of the CMD of PSU as Corruption Managing Director. This article is not at all a stone in the apiary of corruption. My stones have never hurt any Goliaths of corruption but still these Goliaths can see me playing with stones, and me finding more stones. I wish my stones could bring at least one Goliath down.
Ask any hawker around bus stand or railway station, they have experienced burnt (also slaps) of corrupt officials. A small businessman is always scared of corrupt officials. Any shop is scared of food inspector, drug inspector or for that matter all inspectors.
Raju faked employees. It’s official now and given below are my few stones to these inspectors.
1) Who were paying taxes of fake employees? Who issued fake PAN numbers? Who were the income tax ward officers of such fake employees?
2) Were fake annual and periodic returns filed under shop and establishment act? So who checked them? Who was shop inspector?
3) Were there any PF deductions from the salaries of fake employees? If so, what are the facts and figures of PF contributions from both sides? Will PF commissioner come with an explanation? It’s Officer’s Choice!
4) Who checked and approved annual returns and P&L statements filed with RoC (Registrar of Companies).
5) Who were the bankers of such fake employees? Did banks collide with satyam to open fake bank accounts? Is HDFC one of them? What happened to KYC norm stipulated by RBI?
6) How many fake employees were distributed bonuses, overtimes and how many are entitled for gratuity?
7) Should we ever expect exposure to truth and names of public servants who served satyam and helped him run a very small scam worth INR 7400 crores only. That goes without saying many scams are still running. Not sure, ask BSNL CMD? They also faked employees, contractual employees. Everything happens in BSNL and nothing happens to them, they are above Constitution of India.
8) Were fake employees also provided with insurance cover and policies? If so, who paid their premium to keep policies active?
9) The questions are endless.
I have a bad habit to jump to conclusion. Till I change my habit, let me conclude this way, satyam is not a child of Braveheart Raju and others. Satyam is a product of those who feel that, everything works and of those who win a quick race against truth. Let the TRUTHand only TRUTH should come out of this imbroglio. Let the names of corrupt bankers, officials, authorities, politicians, and whosoever participated in corruption festival should come in rogue gallery. And if you happen to meet any child who prospered due to bribe income of satyam, throw a small stone at him also. I am referring to child of corrupt public officers who take great education on bribe income and further corrupt the society. Let us throw corruption out of the society and if required corrupt too.
~ Avinash Murkute
