New Delhi – Page 9 – Ramanisblog

DMK Chief family laundered money , compromised National Security.

Apart from the fact that the money has been laundered, there are security implications as well.

Etisalat, a UAE Company has been, indirectly initially, directly later,allotted sensitive telecommunication sector, by way of licence.

Again as Subramanian Swamy has stated ther is a link between Etisalat,Pakistan’s ISI and Dawood Ibrahim.

Swann telecom sold the licence to Etisalat shortly after being allotted the licence at whooping price.

Swann Telecom is reported to be a front company of a leading Business house in India.

Now Karunanidhi is implicated in all these transactions through intermediaries.

Check the fact that the gentle man who has been raided spent most of his business time in in Dubai and he belongs to a particular community ; he has been chosen to be the intermediary because of religious proximity to powers in UAE/Dubai.

Scam apart, these scamsters have compromised national security.

Is some one listening?

Or is every thing being sacrificed for electoral gains?

If these people continue in this vein they shall have no India to loot further.

NEW DELHI: Investigating agencies probing the alleged irregularity in allocation of 2G licences are examining a transaction in which over Rs 200 crore was transferred from Mumbai-based DB group to Kalaignar TV, a broadcaster majority-owned by family members of DMK party chief M Karunanidhi .

The reason for the transaction—in which Rs 214 crore was transferred in fiscal 2009-10 from a subsidiary of DB Realty to Kalaignar TV by way of two other companies—was for an entity called Cineyug to pick over 30% in the TV channel, says a senior DB Realty official.

But the deal fell through because of valuation differences and the money has since been repaid, the official—Asif Balwa, DB Realty’s CFO and executive director—said.

Officers from investigating agencies are interested in the deal because the telecom arm of DB Realty figures among the companies that bagged 2G licences in 2008. A Raja , the controversial former telecom minister and a leading light of the DMK who was arrested by the Central Bureau of Investigation (CBI) on Wednesday, was in charge when the licences were handed out, allegedly at below-market prices.

The DB group’s telecom arm had sold 45% to UAE-based Etisalat for $900 million in 2009. The company, earlier known as Swan Telecom, is now known as Etisalat-DB.

Three-legged deal

The officials from the investigating agencies say the money was transferred in three stages in the course of financial year 2009-10. The first involved transfer of money of around Rs 200 crore from Dynamix Realty to Kusegaon Realty Pvt Ltd.

Cineyug denies links with DB

DB Realty, according to its 2009-10 annual report, owns 99% in Dynamix Realty, a partnership firm. In turn, Balwa and another DB Realty employee, Rajiv Agarwal Batekrishna, have equal stake in Kusegaon Realty, as per documents filed with the Ministry of Corporate Affairs, or MCA.

In the second leg, Kusegaon Realty invested Rs 206 crore in Cineyug Films Pvt Ltd. This amount is classified under the loans and advances category in the audited annual accounts of Kusegaon in 2009-10. Kusegaon owns 49% of Cineyug and the rest is held by the Morani brothers, who run event management companies, according to MCA flings.

For both Cineyug and Kusegaon, the transfer of money amounting to around Rs210 crore accounted for more than 95% of the total balance-sheet size.

In the final leg, Cineyug gave Rs214.8 crore as advances to Kalaignar TV in 2009-10, according to filings with MCA. The owners of Cineyug denied any links with DB Realty.

“There is no business association between Cineyug and DB group. The transaction between Kusegaon and Cineyug is purely a business transaction and at present Kusegaon owns a stake in Cineyug,” says Karim Morani, promoter of Cineyug in a faxed reply to a questionnaire sent by ET. “However, I know the promoters of DB Group, i.e. Vinod Goenka, for the last 40 years,” he adds. DB Realty is owned by Shahid Balwa and Goenka.According to both Morani and Asif Balwa, the money (Rs214 crore) was transferred to acquire 27-34% of Kalaignar TV, but the deal did not transpire because of differences in valuation.

At this stage, says Balwa, there was no option but to convert what was originally intended to be share subscription money into a loan.

“The loan was secured against an agreement to pledge 100% shares of the promoters of Kalaignar TV which gave a cover of 2.5 times the amount of loan,” he says. The money has subsequently been repaid with interest, according to Balwa.

‘Kalaignar professionally run’

Karunanidhi’s wife MK Dayalu and daughter Kanimozhi own 60% and 20% of Kalaignar TV, respectively. But Sharad Kumar, who owns 20% of Kalaignar TV, says the two ladies had no role whatsoever in any of this.”We were looking at investors and we contacted some people. Morani and I go back a long way so this worked out.

http://economictimes.indiatimes.com/news/politics/nation/2g-spectrum-scam-lens-on-rs-214-crore-db-realty-loan-to-dmks-kalaignar-tv/articleshow/7422168.cms

4 Feb 2011

Banking System safe?

How is it that an organisation with systems has not been able to notice a false product being distributed ,deposits received, receipts issued and accounted for?

Do people not check transaction details against receipts issued?

Or these people have a sophisticated Software which does not need to check the receipts issued against inflow?

Even if a receipt book was maintained by the accused,is it possible to keep the same safely over a long period of time?

Again did not the depositors visit the bank even once?

How is it they have not blurted out the ‘Scheme’ to the bank staff or their friends about their wonderful investment?

One thing is sure-we need not bother about fine prints(conditions apply);

The normal document may not also be original.

Another point is , because of IVRS ( automatic recording)system, one hardly finds a human being to answer you.( by the way how is it that none of the investors made an even a casual inquiry at the bank?)

This makes all the more easy for fraudsters who know Software to manipulate records.

NEW DELHI: Finance minister Pranab Mukherjee has ruled out any systemic failure in the muti-crore fraud at Citibank and said that precautions are being taken to ensure that such cases are not repeated.

“There are regulations and all other precautions are being taken. But if there is an individual misdemeanor, that has to be acted on. Law will take its own course of action,” Mukherjee told reporters.

The alleged fraud was detected at Citibank’s Gurgaon branch. An FIR for cheating and forgery against a bank employee and three others was lodged on Tuesday and 18 accounts, with about Rs4 crore deposits, were frozen subsequently.

The fraud is said to be a handiwork of Shiv Raj Puri, a relationship manager at the branch, who allegedly sold investment products to high networth clients claiming that they would generate unusually high returns. He also allegedly routed the fund garnered from HNI customers to stock market through brokerage firms like Religare Securities.

Citibank India spokesperson said, “We recently initiated an investigation into a certain set of suspicious transactions based on documents forged by an employee involving a few accounts in our Gurgaon branch,” the spokesperson said. “Identified suspicious transactions have been isolated and we are providing full assistance to the authorities in their investigations.”

New Delhi: A huge banking fraud has been uncovered at the Gurgaon branch of Citibank that saw a bank employee fraudulently diverting an estimated Rs.400 crore from 20 accounts of high-networth clients. Citibank has already lodged an FIR with the police and begun internal investigation into the fraud.

“We recently initiated an investigation into a certain set of suspicious transactions based on documents forged by an employee involving a few accounts in our Gurgaon branch,” a Citi India spokesperson said in a statement on Tuesday. According to sources, an employee, Shivaraj Puri, used to seek deposits from high-networth customers in lucrative schemes. However, he used to transfer the funds to some other accounts.

Funds amounting to Rs.400 crore belonging to about 20 customers, according to sources, were transferred to fictitious accounts.

The employee involved is suspected of selling investment products to clients claiming that these would generate unusually high returns.

It has been alleged that the employee also showed a forged notification of market regulator SEBI for garnering funds from customers.

http://hindu.com/2010/12/29/stories/2010122960310100.htm

The flagship branch that Citibank opened in New York’s Union Square today is a bit different from banks in its other locations.

Instead of picking up a paper brochure, patrons can use one of the six interactive sales walls with touchscreen capabilities to learn more about bank services. Instead of using deposit envelopes, they can use enhanced-image ATMs to deposit checks without them. And instead of waiting for business hours to speak with a customer service representative, customers can use a 24/7 video chat station in the ATM lobby.

The digital components of the 9,700-square-foot branch are based on technologies pioneered by Citibanks in Hong Kong and Singapore.

Some features of the new bank seem more suited for a cafe or a airport lounge than a bank. Customers can access free Wi-Fi (in a private seating lounge if they are Citigold customers), and “media walls” display news, weather, and information about Citibank. Atmosphere Proximity, Citi’s digital agency, also designed a chip with the bank’s social media team that accesses a special Foursquare feed. Whenever a certain amount of people check in to the branch, an “internal marketing screen” shows which users are inside the branch at that very moment.

http://mashable.com/2010/12/16/citibank-launches-bank-of-the-future-in-new-york/

How can one sure that the data is original,in the light of what has happened in India?

30 Dec 2010

Daughter-A liability,SC Judge!?

Probably she meant the expenses indicated relate to expenses likely to be incurred.

Seems media is sensatiolising the issue.

New Delhi, Dec 29: As someone intelligent once said, ‘A woman is a woman’s worst enemy’. The fact was proved by none other than Supreme Court judge Gyan Sudha Mishra. The judge, the only woman judge in the SC has a unique distinction in her favour. She has listed the marriage of her two daughters in the “liabilities” column.

http://news.oneindia.in/2010/12/29/sc-judge-gyan-sudha-mishra-daughters-liability.html

29 Dec 2010

I have not taken any decision alone,Kalmadi.

Nor has Raja.

Point is with whom or under whose orders?

After 8-hour long raid by the CBI, a defensive Suresh Kalmadi emerged from his residence Friday evening to claim that he was “innocent till proven guilty”.

Strongly defending his role in the CWG scam, Kalmadi maintained that he had not taken any decision alone and all the spending by the OC had been approved by various committees.

Confirming raids at his residences, Kalmadi said he is willing to co-operate with the probe and stated that he had furnished all documents sought by the investigative agency.

“I offered them full cooperation. I had said after giving the successful CWG that the Organising Committee was ready for any investigations,” he said.

Kalmadi claimed that the money at his disposal Rs 1,500 crore was a small fraction of the total expenditure incurred in the Games. He claimed the Games generated revenue of Rs 700 crore.

However, Kalmadi failed to give a convincing reply to the media when questioned about the reports of missing documents.

“I have written to the CBI Chief and informed that the Organising Committee had handed over all the documents. In case there were some more left, the same would be provided” Kalmadi said and also added that there was a possibility that the papers could be with other probe agencies including Income Tax, CAG or Enforcement Directorate.

Asked if he was being made a “scapegoat”, Kalmadi declined to comment.”I don’t want to answer this question. No comments”.

On what all has been taken by the CBI after the searches, he said, “I don’t know what all they have taken. They have handed me a list.”

He even tried to deflect the blame on the Delhi government and the centre indirectly as he said that he was not responsible for any of the construction work carried out for the Commonwealth Games in response to a query.

24 Dec 2010

Sonia Gandhi’s Discussion with Maria Shriver

Friday, 04 August 2006, 13:17
C O N F I D E N T I A L SECTION 01 OF 05 NEW DELHI 005495
SIPDIS
SIPDIS
STATE FOR INR/B
EO 12958 DECL: 08/04/2016
TAGS PGOV, PREL, PINR, PHUM, SCUL, KWMN, PINS, IN
SUBJECT: A GARRULOUS SONIA GANDHI OPENS UP TO MARIA SHRIVER
Classified By: Charge Geoff Pyatt for reasons 1.4 (B,D)
¶1. (C) Summary: In a relaxed August 3 conversation with California first lady Maria Shriver, Sonia Gandhi revealed a rare glimpse of herself. Usually withdrawn and reserved in public, she spoke at great length and radiated confidence on women’s’ issues and some aspects of her private life. Mrs. Gandhi demonstrated a strong commitment to a progressive left-of-center agenda aimed at combating socially conservative forces bent on oppressing Indian women. However, she was also realistic, revealing an in-depth knowledge of Indian culture, especially the rural/urban divide. At times suppressing her emotions, she spoke about the compulsions of political life, her parents’ objections to her marriage to Rajiv Gandhi and the sacrifices she and her family have made. Her comments and demeanor put the lie to cocktail party suggestions that she courts Manmohan Singh’s job. End Summary.
Two Dynasties Meet
------------------
¶2. (C) Maria Shriver, California’s first lady and wife of Governor Arnold Schwarzenegger, met with Congress Party President Sonia Gandhi on August 3 as part of her official visit to India. Shriver is in India to discuss her various initiatives on women’s’ affairs and to solicit Indian involvement. She is also laying the groundwork for a proposed trade mission led by Governor Schwarzenegger around February, 2007. After her stay in Delhi, she will go to Dharamshalla to meet the Dalai Lama. In addition to the Gandhi meeting, Shriver met with the head of the National Commission for Women and toured NGO’s involved in women’s’ affairs. Mrs. Gandhi was accompanied by former Cabinet Minister Karan Singh.
Indian Women Bear a Heavy Burden
--------------------------------
¶3. (C) Shriver and Gandhi engaged in an over one hour exchange that was lively and open and covered many issues, both personal and political. Shriver explained that she was concerned with women’s issues, including sexual abuse and exploitation and trafficking. Mrs. Gandhi replied that the situation for women in India is more troubling and traumatic than that in the US and other developed countries, as Indian women must deal with myriad problems not found in the west, such as child labor. In addition, most Indian women live in remote villages with severe “cultural compulsions” that work against women, making it difficult for the GOI to enforce the law. She pointed out that Indian women remain largely uneducated which is a “big problem” for Indian society and makes progress difficult. This compels the GOI to rely on television and radio to reach women with messages aimed at their concerns. Mrs. Gandhi noted that while she had a deep personal interest in women’s’ issues, she “only rarely” gave personal interviews aimed at female audiences.
And Sonia Bears a Personal Burden
---------------------------------
¶4. (C) Without prompting and at her own initiative Mrs. Gandhi then spoke at length about her personal life. She revealed that after her mother in law’s murder Rajiv Gandhi was under intense pressure to take up the political mantle of the Gandhi family, but both Rajiv and Sonia were intensely
NEW DELHI 00005495 002 OF 005
personal and had no interest in politics. According to Mrs. Gandhi, she urged her husband repeatedly to avoid politics, but he insisted. After Rajiv Gandhi became Prime Minister, Sonia was determined to avoid the limelight and “kept in the background.” She clarified that she accompanied her husband to official events, but refrained from making political statements. After her husband’s assassination, Mrs. Gandhi withdrew, working only on a charitable foundation established in Rajiv’s memory. In a candid revelation of her personal political stance, Mrs. Gandhi stated that “the right was becoming strong in India and Congress weak,” tipping her hand and “compelling” her to enter politics to protect the Gandhi family legacy. She also revealed that her children were “not keen” about the idea, but eventually told her, “whatever you decide, we will back you.”
Turning Down the PM Spot
------------------------
¶5. (C) Mrs. Gandhi was reluctant to provide details regarding her decision to turn down the Prime Minister post after the UPA’s surprise 2004 electoral victory, stating that “I am often asked about this, but tell people that I will write a book someday with the whole story.” She would only say that she “felt better” that someone else became PM and “did not regret” her decision. Shriver congratulated Mrs. Gandhi for her resoluteness and described her as “courageous.” Clearly embarrassed by this adulation, Mrs. Gandhi made no response. She elaborated, at Karan Singh’s insistence, saying that she was under lots of pressure, as the “party workers” were “very upset.” They “could not understand” why she, as party President, was not taking up the post, since they had voted for her and won a majority.
Politics and Women
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¶6. (C) Shriver noted that she chairs a “Women’s Conference” that brings 11,000 women to California to discuss relevant issues, and reinforced the point that “women can change the world.” Shriver invited Mrs. Gandhi to attend next year. She pointed out that last year’s keynote speaker was Sandra Day O’Connor, who spoke about balancing public and private life, and how she left the Supreme Court to look after her ailing husband and spend more time with her children. Shriver emphasized that Justice O’Connor also did not want to enter public life but was “pushed by her husband,” and noted how difficult it is to be a wife and mother and play a public role. Mrs. Gandhi made no commitment to attend.
Indian Steps to Bring Justice
-----------------------------
¶7. (C) Mrs. Gandhi explained the steps that her UPA government had taken and planned to take to help women achieve greater social mobility and rights. She explained that the GOI had instituted a “Panchayati Raj” program under which major decisions regarding the economic development of villages are made by Panchayats (village councils). To ensure female participation, Rajiv Gandhi had “reserved” 33 percent of the positions on the Panchayats for women. Although there were “some complaints” that the women were “manipulated by their husbands,” Mrs. Gandhi asserted that “research had confirmed that women will invariably take the right decisions.” She noted that the UPA now wants to extend the same reservations to Parliament and the Legislative
NEW DELHI 00005495 003 OF 005
Assemblies. Mrs. Gandhi confirmed that currently the number of female MPs was “very small,” as “some parties believe that women should not be in power.”
The Indian Contradiction
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¶8. (C) Shriver pointed out that her trip had made her aware of the “great contradiction” between a society in which women occupied many leadership positions, including, at times, Prime Minister,” but still were denied many basic rights. Mrs. Gandhi agreed with Shriver, noting that several Indian states had female Chief Ministers, and that an increasing numbers of Indian women are CEOs of major corporations, doctors, and scientists, and “we will keep fighting.” She explained that the situation for women varied from state to state, and that South India was “more progressive” than the North for various historical and cultural reasons, and that, for example, the state of Kerala supplied nurses to much of the Middle East.
Possible Indian Collaboration
For transcript in detail click link . http://www.wikileaks.ch/cable/2006/08/06NEWDELHI5495.html
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DMK Chief family laundered money , compromised National Security.

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Banking System safe?

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Daughter-A liability,SC Judge!?

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I have not taken any decision alone,Kalmadi.

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Sonia Gandhi’s Discussion with Maria Shriver

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