Tuesday 23 December 2014

NSEL Victims' last Plea to Shri Modiji






वस्त्र हर रहे  नित्य पाँचाली के,  अब भी क्या  केशव  ना आयेंगे   
लूट रही लाज भरी सभामें क्या गोविन्द ना उसे बचाएंगे?

भ्रष्ट्राचार मुक्त भारत के वचन क्या वो आज नहीं निभाएंगे
अट्टहास कर रहे कौरव सभी,कब नारायण पांचजन्य बजायेंगे ?

NSEL की द्यूत जाल से फंसे निरपराधी पांडवोको कब कृष्ण छुडाएंगे
निर्लज्ज शकुनि  के कुटिल षड्यंत्रो का अंत कभी तो वह कराएंगे ?

घात लगाये बेठा है दूर्योधन क्या पांडव लाक्षाग्रह मे ही जल जायेंगे  
लगी है बाजी जानकी आज क्या हरी अधर्म से धर्म को नहीं बचायेंगे? 

सामने दुश्मनोकी अक्षहौणी सेना खडी पार्थको विजय कैसे दिलवायेंगे 
13000 निवेशकोके जीवनसे योगेश्वर तमस और तिमिर कैसे हटायेंगे? 

धर्म क्षेत्र कुरुक्षेत्र मे धनंजय की ज़ुकी ग्रीवा कब दामोदर उठाएंगे 
चक्रव्यूह मे घिरे हे पांडव क्या दुर्योधन के पतित हाथो ही मर जायेंगे?

छल कपट के हस्त सत्य की हार जगन्नाथ कितने दिन सह पायेंगे 
17 महीने की विषम वेदना का अंत मधुसूदन  कभी तो करवायेंगे   

अपमानित   सैरन्ध्री के खुले  केश को मुरारी  शोणित   कभी  पिलवायेंगे?
दिशाहीन पांडवो के सारथी बनकर गोपाल गंतव्य पार कब ले जायेंगे ?

मंत्री संत्री और अखबार बिक गये अब और कौन कौन बिक जायेंगे?
सर्वनाश होगा धर्म -सत्यका अगर अब भी माधव मौन रह पायेंगे

सुनो द्रौपदी कर जोड़ करो प्राथना पार्थसारथी आज नहीं तो कल  आयेंगे
प्रजावत्सल   प्रधान  सेवक  भारत  के व्यथा तुम्हारी  निश्चित सभी  हटायेंगे !!

This is a  poetic answer to following tweet showing apprehension that Modiji will never help NSEL victims.(excuse my  bad Hind/ typos/grammar) 





Sunday 30 November 2014

An appeal to Modiji in Hindi on behalf of 13000 NSEL investor families




16 महीने से  निवेशक तड़प रहें मांग रहें हैं मात्र न्यायको
विवश और निर्धन होकर छु  रहे आत्महत्या की कगार को
अब तो समजो देश बांधवोकी व्यथा और उनके संतापको
यह देख नींद कैसे आ सकती है भारत के सेवक प्रधानको

ना सिर्फ धन लुंटा इसने उजाड़ दिया हमारे पूर्ण संसारको
कईं घरोंमे बुझे हुए चूले मांग रहे आपसे सिर्फ एक अंगारको
अब तो सुनो पीड़ा हमारी और हमारे न्याय के अधिकारको
यह देख नींद कैसे आ सकती है भारत के सेवक प्रधानको

मंत्री संत्री और न्यायालय
खरीदना चाहता वह सबके ईमानको
अपनी पहुँचपे इतराता कानून के उपर समजता अपने आपको
वह रोंद्ता रहा हर एक  नियम और भारत के संविधान को
यह देख नींद कैसे आ सकती है भारत के सेवक प्रधानको

क्यों चुप्पी साध बेठे है आप क्या हुआ 56" के सीने की आगको
कब तक सहोगे रावण को और उसके हर एक जघन्य पापको
UPA के चोरोने पाला और खूब दूध पिलाया इस विषधर सांपको
यह  देख नींद कैसे आ सकती है भारत के  सेवक प्रधान को

समय आ गया है काट दीजिये उसके कानून से लम्बे हाथ को
ना कीजियेगा माफ उसको और उसके हर घृणित अपराधको
दे रहा वह चुनोती आज  आपको और दिल्ली के दरबार को
यह  देख नींद कैसे आ सकती है भारत के सेवक प्रधानको


रोते बिलखते आपके प्रजाजन करते यह याचिका आपको
करिये दमन दुशाशन का और कीजिये शमन हमारे तापको
बता दीजिये दुष्टको उसने इसबार ललकारा है अपने बापको
हमारी शत कोटि दुआये हमेशा हमारे लाडले सेवक प्रधानको

Saturday 8 November 2014

Kaliyug me Ravan

My second attempt at Hindi Writing on NSEL scam.

13000 निर्दोष परिवार लूट रावण आज भी इतराता है,
लाखो दुर्वचन मिलने पर भी ना अल्पतम शरमाता है 

परधन लूट अब भी  धूर्त किंचित  ना घबराता है 
परपीडन और प्रपंच मे सुख अतिशय वो पाता है

छलधोखा, झूठ ,प्रवंचना से उसका बहुत करीबी नाता है 
अपने हाथो मूर्ख आखिर अपने ही घर मे आग लगाता है

अपने राजनीतिक संकर्पो पर  सदैव वो मदमाता है
भूल गया जीवन का क्रम तो कभी ज्वार तो कभी भाटा  है 

जब जब महा विनाश मनुष्य पर  आ छाता है
अपना अंधकारमय भविष्य वो कभी ना देख पाता है

सत्य न्याय और निष्ठा पर कदाचित असत्य छा जाता है 
किन्तु हर को मानव अन्तमे  अपनी करिनी का  फल पाता है

गरिबोका दिया  अभिशाप लेकिन कभी न खाली जाता है
मृत पशु के चर्म से तो लोहा  भी भसम हो जाता है  

Thursday 23 October 2014

Lies , Utter lies and NSEL press articles

After 15 months of  financial rape , excruciating pain and being treated like doormats by UPA, the NSEL investors saw a ray of hope in Modi Sarkar's MCA announcing a draft order for merger of FTIL-NSEL . Just when I expected the media to laud Modi Sarkar's apt decision which may get investors' 5600 crores back (as it would rightly transfer the onus of recovery on FTIL which squandered the funds to its known accomplices) , the news-traders ( a term coined by Modiji) and presstitutes (a term coined for a sleeveless ex-CNN IBN  moron and a specific dhimmi NDTV journo) pitched in with all the vigour to defend chimerical FTIL 'small shareholders' and FTIL.  While these media crooks enjoyed the financial rape of 13000 innocent investors of NSEL with voyeuristic-sadistic pleasure, the first step taken by GOI against the financial rapists jolted them out of their languor. Though I'm the one who had defined the term 'paid-media' at www.urbandictionary.com (All those journotards and media houses who sell their souls and their news for a few pieces of silver) , these FTIL-loving journos take this term to a whole new nadir.


Those  who did not cover the story of an FIR in Delhi being filed on Jignesh Shah and others in bogus NSEL sugar trades (even after being emailed a copy of the FIR by me) became abruptly  interested in  l'affaire NSEL. All of a sudden a lot of bleeding hearts started crawling out of the woodwork in support of minority shareholders of FTIL  (and against NSEL investors) with all sorts of convoluted crap. The amount of blood these FTIL sympathizers' hearts bled form every auricle and ventricle could have given a new life to at least a few thousand patients in need of  blood transfusion. It's even more interesting to see that not a single 'small shareholder' of FTIL is griping about this merger but news-traders are wailing as if they've lost both their parents in one day. Not a single press article even remotely mentions the word 'fraud' anywhere in their coverage. So much for journalism ethics!


An exchange and its promoters should be like proverbial Caesar's wife- 'above any suspicion.' Here however Caesar had turned his wife Pompeia into a Jezebel who slept with anybody  for a few pieces of silver. It is now in public domain  that Jignesh Shah himself used to rig MCX prices using IBMA as a client (no FIR on IBMA still)  where more than Rs 60000 crores (yeah no jokes) worth speculative trades were conducted  and losses of  Rs 66 crores were not even made good. None of these writers had any problems with FTIL running all its exchanges like Jignesh Shah's ancestral family firm including NSEL , MCX ( Rigged trades, bogus donations, bogus purchases, non- existing vendors, non -existent warehouses where orders came from Manjay or Jignesh Shah), MCX-SX (related party trades, breach of corporate governance).

NSEL was nothing but an alter-ego of FTIL and cannot be separated from it. FTIL cannot hide behind the corporate veil to disassociate itself from the affairs of NSEL. NSEL has no independent assets whatsoever, In fact even the premises from where it operates are on rent from FTIL.The key IT infrastructure including data servers were managed by FTIL. What a shame NSEL servers crashed just after the scam!  You believe in coincidences?  I for one don't.

It is a settled position under common law that any fraud or crime is against ‘public interest’. Therefore, by ordering the merger and thereby mitigating / curing the ‘fraud’ would per se be in the public interest. The whole concept of limited liability was to promote trade where businessmen could take risks and conduct business without risking losing  their personal assets. The limited liability concept by no means gives carte blanche to perpetrate frauds and get away with it.All equity shareholders run inherent investment risk and they either prosper or perish with the company depending on the work of their promoters/directors. In all winding up petitions and SEBI delistings minority shareholders get penalized for the acts of their promoters. You think financial journos can't see this plain truth? There is none so blind as one who doesn't want to see! Oops truth and journalism! Ins't Ramnath Goenkaji dead years back ?

Before I disrobe these journos, some hard facts:

  • FTIL owns 99.9998% of NSEL and mere 100 shares were given to NAFED to fool people (NAFED a quasi Govt agency was touted as a co-promoter)
  • Huge monies of PSUs  (about 450 crores) like MMTC /PEC (public interest) also stuck along with retail investors
  • Scam masterminded by FTIL (NSEL was an alter-ego of FTIL) and its CMD Jignesh Shah as evident by various forensic audits and charge-sheet filed by Mumbai police EOW wing
  • About 90% of the investors in this ponzi scheme-scam are retail investors sucked in by brokers working in cahoots with Jignesh Shah/FTIL who induced investors by false promises of safety
  • Fixed returns were assured to investors by brokers/NSEL with knowledge of FTIL
  • T+2 (short duration buy) and T +25 (long duration sell) contracts were to be executed simultaneously by the investor generating arbitrage profits of  about13 % per annum (pre-tax) and 8.8 % post tax.
  • On 31st July 2013 when the exchange went bust it had neither money nor the goods to pay investors for which it was a counter-guarantor. Promoter FTIL tried to wash its hands off calling it an employee scam and hiding behind ‘corporate veil’
  • No warehouse receipts were ever printed and the warehouse allocation reports and QC certificates issued by NSEL turned out to be bogus
  • Out of the total scam,  Rs 2510 Crores is spread over 11,755 small investors which works out to an average of Rs 22 Lakh per investor. This  contradicts the fact that only HNIS are affected
  • FTIL ran multiple exchanges  around the world (most exchanges were loss making) including MCX, MCX-SX and NSEL (frauds detected at all exchanges)
  • An exchange with ‘national’ in its name started by FTIL group to hoodwink investors and NAFED brand was used to give it ‘quasi government’ look
  • By a gazette notification dated 5 June 2007, the Ministry of Consumer Affairs under Sharad Pawar (how can his ubiquitous name not surface, we're talking about a freaking scam here) exempted one day forward contracts at NSEL from FCRA subject to certain conditions. Ironically Mr. Paul Joseph who signed this exemption (even before NSEL started  functioning ) subsequently joined the FTIL group
  • In 2008 NSEL  started functioning as a delivery based spot exchange but had no significant business and was making huge losses
  • In 2009 fraudulent ‘paired trades’  were launched to generate business and profits  for NSEL/FTIL. These contracts were ab initio illegal as the exemption provided to NSEL was only for contracts up to 11 days where as pair trades extended till 25 or 35 days
  • The first borrower in 2009 that was loaned money was NK protein Ltd a company owned by Mr. Nilesh Patel –the son-in-law of then chairman  Mr. Shankarlal Guru (appointed by FTIL) .This shows the complicity of promoters/board with borrowers
  • NBFC -Lending Activities started much before Anjani Sinha became the CEO. This is thus a fraud masterminded by FTIL Board
  • Emails found by EOW wing of Mumbai police confirm how FTIL finance director, Jignesh Shah(CMD of FTIL) and auditors (Mukesh Shah- Jignesh Shah's uncle) were cooking the books of NSEL
  • Along with  Jignesh Shah and his 2 corrupt sidekicks, FMC and SEBI both found FTIL as a company not 'fit and proper' in conduct and unfit to run exchanges.

Here is a chart how about 81% of consolidated income of FTIL came from NSEL operations:-



Ever wondered how Jignesh Shah and FTIL got away will all their fraudulent activities? Oh shut up we all know corrupt UPA government, that's a bloody no-brainer. There was a tad more than that. Check the galaxy of senior bureaucrats who work for FTIL group. No prize for guessing why no action was being taken against FTIL and Jignesh Shah in this scam. I am surprised why under MPID act , FTIL's assets are not being attached in spite of being a clear provision to attach the assets of the promoter.



Now let's start undressing these media crooks. Let me start  with Livemint and their ace joker  Mobis Philipose ( @mobis_philipose ).His brilliant piece in Livemint on merger says    " Order violates fundamental principles of rule of law "


Claim: " The government is forcing a parent company to take on the liability of a subsidiary company, ignoring the fact the subsidiary was formed as a separate entity precisely so that the parent company’s liability is limited  to the extent of its investment in the firm"

Fact: NSEL was promoted by FTIL  with only 100 shares being given to NAFED (to give it quasi-govt. look) to fool gullible investors and commit the fraud.In spite of having MCX (tightly regulated) where this spot business could have taken place, FTIL chose to form a new company. Before even NSEL started business ,an exemption from FCRA was given by magnanimous Maratha politician and his pet bureaucrat 'Paul Joseph' who after giving this NSEL exemption immediately joined FTIL group



Claim: "If the government proceeds with the forced merger, it will appear the country doesn't respect the rule of law"  and  " according to the laws of the land, the risks associated with such acts by the holding company are limited to the extent of capital invested."


Fact: Quite amusing as it does not refer to any specific rule , act or law ;  nor does it cite any case laws but relies on loose statements which are patently false and misleading. Had this pea-brain writer done a little more research before writing this trash he would have easily known that the MCA is headed by Shri Arun Jaitley who himself is an ace lawyer and a legal luminary. Shri Jaitley himself appeared for DDA in Supreme court where the judgement was- "The concept of corporate entity was evolved to encourage and promote trade and commerce : but not to commit illegalities or to defraud people. Where, therefore, the corporate character is employed for the purpose of committing illegality or for defrauding others, the court would ignore the corporate character and will look at the reality behind the corporate veil so as to enable it to pass appropriate orders to do justice between the parties concerned." Clearly Mobis has neither checked facts nor law but who cares we are in news business.


Claim  "It must be noted here that the Rs.5,600 crore or so due to NSEL’s investors isn’t listed as a liability on NSEL’s books. As of now, at least as far as the books of accounts go, they are liabilities owed by the exchange’s defaulting members."

Fact: This is a blatant and shameless lie from low-life Mobis.  NSEL as an exchange took the counter-party risk and is directly liable to make good pending payments/settle contracts. This is as asinine  as saying a bank has no liability to depositors but it's a  liability of defaulting loan-takers. Besides, NSEL acted as an NBFC company to the knowledge of FTIL board and Jignesh Shah/Shreekant Javalagekar (finance director).

So now this Mobis dude has done his bit for FTIL with his piece at Livemint but he ain't happy. He's one hell of a news-trader, he goes online ,takes every article against the merger and retweets all. Way to go man long live journalism!




Now comes the 'old lady from Boribunder' - TIMES OF INDIA. They have this unique distinction of being featured on Wikipedia page for paid news.(http://en.wikipedia.org/wiki/Paid_News). Anybody who is Social media savvy would know that 'the New Yorker'  had found out ages back - there are no walls between sales department and newsroom at TOI ( http://www.newyorker.com/magazine/2012/10/08/citizens-jain)


Their merger story: http://timesofindia.indiatimes.com/Business/India-Business/Government-proposes-FTIL-NSEL-merger/articleshow/44904556.cms


Claim :"Besides investors, the move is also expected to benefit a large number of speculators who once traded recklessly on NSEL just to make a quick buck"

Fact: All investors at NSEL were sucked in to the vortex of NSEL trades by promise of a fixed return arbitrage. An email copy from Amit Mukherjee of NSEL was sent to all marketing blokes at NSEL with a copy to FTIL warning  not to use official IDs to send 'fixed return calculators' but to use private email IDs. How the hell an investor investing for 13% pre-tax and 8.8% post tax locked return become a speculator? Any logic?  No but you can't expect logic from a media-house which has no walls between sales-room and newsroom. So shut up and keep reading our crap, this nonsensical  rag was here before your grandfather's time and will keep peddling bull even during your grandchildren's time.

Claim: Talking to TOI, Berjis Desai, senior partner at J Sagar Associates, legal adviser to FTIL, said the notification has the potential to impact investments into India. "It makes a mockery of the limited liability principle"   and  "If subsidiary companies making losses are forced to merge with their holding companies, that could send a wrong message to foreign investors and cause a huge damage to the reputation of the country"

Fact: For starters  limited liability cloak cannot be used to perpetrate premeditated frauds. Besides, those worried about reputation of the country and impact on foreign investors had ironically no problem with a massive (nearly a billion dollar) NSEL fraud by FTIL and its unsettled position till date which would scare away foreign investors. Irony dies a million deaths everyday at TOI.




Next in line is The Financial Express. Express Group once an august institute owned by Shri Ramnathji Goenka -a fearless crusader and the doyen of Indian journalism who never sold himself nor bowed to coercion of even Indira Gandhi. Every time I read the poem 'Invictus' ("my head is bloody but unbowed" )  by William Henley I think of this honorable man. There would be no bigger degeneration in this world  than the Express group during Ramnath Goenka days and what  the group is now. (Sorry I forgot Shashi Tahroor before Congress and Shashi Tahroor after joining Congress).

Here is  their story:  http://www.financialexpress.com/news/editorial-limited-liability-at-nsel/1301106

Claim: "Given how the individuals who lost money at NSEL were fully aware of the risks involved and that such products violated trading norms—they were essentially financing products offering substantially higher rates of interest than what was available in the market—it is not immediately clear why the government feels they need to be compensated."

Fact: Investors were deceived into false sense of safety by FTIL, NSEL and brokers. There was assurance of SGF (settlement guarantee fund) , more than 100% stocks and secure systems in place. You need to be thick in the head if you would invest in a financial product which you knew was illegal ab-initio. I don't think I would hate my money so much or anybody else would for that matter. By this warped logic anybody who trades in F & O segment of equities can be easily robbed as he's chasing higher returns and should not be compensated.


Claim: More important, since NSEL’s accounts don’t list them as liabilities—the money is owed by defaulting parties on the exchange


Fact: Yawn!  Haven't we gone over this crap already??. Please read above. Ramnathji Goenka please don't turn in your grave this is Zeitgeist live with it. Oops remain dead with it.



Claim: "It is this limited liability principle, the world over, that ensured people invested in firms to set up ventures which, sadly, also went bankrupt on occasion. If investors knew their personal assets could also be attached, many would cavil about investing in any ventures"

Fact: A well-planned fraud cannot be allowed under the guise of limited liability. If the Sugar -castor prices had dropped to 5% of the original value and the commodity exchange had gone bankrupt it was understandable.Here an exchange was started with the sole purpose of defrauding people without any stocks ever. Loans were given to shady defaulters at high interest rates under paperwork of commodity trades. No that wasn't enough, to add insult to injury Jignesh Shah and other common directors of FTIL stood corporate guarantors to defaulting crooks on NSEL like NK protein and Aastha-Juggernaut group.


Claim: "If it is to be assumed NSEL’s 13,000 investors comprise the public, what of the 55,000 FTIL non-promoter shareholders? The sooner the government rescinds the merger order the better"



Fact: There is no bigger fallacy than FTIL minority shareholders. Check figures :



SHAREHOLDING PATTERN OF FTIL FOR THE QUARTER ENDED 30TH JUNE, 2013





No Of shares
No Of Holders
% in terms of number of shareholders
No. Of shares
Shareholding percentage
1-500
46912
97.02%
22,48,845
4.88%
501-1000
709
1.47%
5,24,956
1.13%
1001-2000
309
0.64%
4,51,794
0.98%
2001-3000
113
0.23%
2,81,157
0.61%
3001-4000
56
0.12%
1,97,170
0.43%
4001-5000
38
0.08%
1,79,374
0.39%
5001-10000
80
0.17%
5,79,358
1.26%
10001-and above
132
0.27%
4,16,15,883
90.32%
Total
48,349
100.00%
4,60,78,537
100.00%



It is clear from above chart only 132 people close to management and Jignesh Shah owned 90.32% shares whereas 1-500 shares were held by only 4.88% investors. All  original FTIL shareholders had 15 months to sell their holding  and only speculative investors have remained in FTIL. A lot of small investors even entered at the low price of Rs 100-125 to make a quick buck. Besides, a lot of NSEL investors have also bought some shares in FTIL with a view to move SEBI- CLB later on . 

Even if we were to compare absolute numbers , the market cap of FTIL is about 828 Crores (reserves of about 2400 Crores)  and the value of holding of small shareholders in FTIL (under 500 shares) who constitute 5 % by market cap is only  Rs 41 Crores.




Now Comes the paper Business Standard. I will given them the credit of being reasonable objective and fair in covering this issue so far.  

Here is their story: http://www.business-standard.com/article/opinion/forced-mergers-are-wrong-114102200985_1.html

Claim: "What about the shareholders who own the other 55 per cent? They have just been forced by a government fiat to take a major capital loss, taking on the liabilities of another company. Is this how the government intends to protect minority shareholders?"

Fact: Haven't I gone over this shit  before? It's OK, as it is BS (I have a special predilection for 'em), I'll explain once again. There are only about 10% shareholders not close to management. They too run the equity risk (as in winding up petition or SEBI delisting) of sinking with the promoters. Nobody can I repeat nobody can hide behind anything once a premeditated fraud is proven. 

Claim:  "A basic rule underlying modern markets is being violated here. The ministry for corporate affairs, it appears, is unsure about why subsidiaries exist. "

Fact: Subsidiaries do not exist to encourage frauds and malpractices. Limited liability is only to promote risk-free trade and commerce not to pick pockets of 13000 people who include Army veterans, widows, students, retired pensioners, PSUs etc.



What shocks me more is that these same crybabies and bleeding hearts were shockingly quiet when FTIL paid about 177 crores without consulting any shareholder to small investors in NSEL (Who could throw stones at FT tower). They also had no ivestors' interest at heart when around 40 crores were paid as legal fees by FTIL to defend Jignesh Shah. 'Honest financial journalism' indeed is a bigger oxymoron than 'peaceful Pakistan'.

This merger is indeed a bold decision from incorruptible/ untouchable #Modisarkar which I am sure now will  go after these fraudulent FTIL group like Eliot Ness- the Feds went after Al Capone. The merger will  help India as follows (presstitutes' rants notwithstanding)-


  • A clear message to the country and the whole world that this government means business and has zero tolerance for scams and fraudsters . The ministers in Modisarkar are not for sale and their honesty is non-negotiable 
  • Restoration of faith of Indian investors and FIIs in Indian exchanges, markets and system
  • GOI gets its PSU investments back (about Rs 450 Crores) and saves Rs 1650 Crores in Income tax
  • A strict warning to scamsters that they can't hide behind limited liability cloak
  • Commodity trade which has almost come to a standstill will get revived and GOI will get more revenue by virtue of this
  • All markets including equity markets will get a boost  if this situation is resolved resulting in overall growth and prosperity





Monday 20 October 2014

NSEL निवेशक की विडंबना और भारत के प्रधान सेवक को दिवाली पर पत्र

इस  धनतेरस को धन  पूजने धन कहाँसे लाऊं मैं
लूंट लिया सर्वस्व   मेरा  अब कैसे दीवाली मनाऊँ मैं ?

किस रावण की काटूं बाहें, किस लंका को आग लगाऊँ मैं 
घर घर रावण पग पग लंका, इतने राम कहाँ से लाऊँ मैं ? 

भग्न हृदय है, मन मे ग्लानि , दीवाली के दीप कैसे जलाऊँ मैं ?
चार वर्ष की विषम वेदना , मुख पर  स्मित  कंहासे लाऊँ मैं ?


चार सालसे अविरत अन्याय  गीत पर्व  के   कैसे गाऊँ मैं? 
बाहर दीवाली ,दिल  मे होली , मेवा मिष्‍टी अब कैसे खाऊँ मैं ?  


डगर डगर भटक कर शिथिल चरण अब द्वार किसके जाउ मैं ?
नैतिकता बिकती बाजारो मे अंतर की व्यथा किसे सुनाऊँ मैं?

काली चौदस सी फैली कालिमा  जीवनसे   कैसे हटाऊँ मैं ?

जीवन के दलदल मे फसा  नव वर्ष की उषा कैसे  प्रकटाऊं मैं  ?

बीच चौराहे  निर्लज्ज  दुशासनने निवेशको के  लूट लिये चिर 

निर्बल कानून , भ्रष्ट व्यवस्था देख रहे तमाशा बन मुक बधिर 

13000 परिवारों के सपने लूंट आजभी वो दे रहा पिडीतोको ललकार  

चार सालसे उस चोर की तानाशाही आखिर क्यों सह रही मोदी सरकार? 

भ्रष्ट मंत्री  भ्रष्ट संत्री दिखे , पर अब आप पर अटूट विश्वास है

आप ना अन्याय होने दोंगे  जब तक आपके घट मे श्वास है

बहुत रह चुके ख़ामोश , अब कार्य कुछ ऐसा भारत के सेवक प्रधान करो  

13000 गृहस्थी लूटने वाले , भ्रष्टाचारी रावण का अब आप  सरसंधान करो 

This poem represents the pain , helplessness , frustration and anguish of 13000 NSEL investors who are seeing Fifth Black Diwali. 

Friday 17 October 2014

NSEL investors' plea to Ms. Nirmala Sitharaman

We're happy to see in every state a new lotus bloom
But when will it end  innocent  NSEL investors'  gloom?

Tax-paid  monies looted and recovery still a distant dream
Free are the crooks after knowing who's taken all the cream

Investors clutch at straws and in dark hopelessly grope
For 13000 investor families you are the only beacon of hope 

Hapless investors to you now desperately implore 
Solve this crisis and you get our gratitude galore

We very well know how for you it's an inherited mess
Justice for victims and thousands of hearts will bless


Tuesday 26 August 2014

Tax-paying NSEL Investor's Frustration



Where in the land of the crooked  it is folly to be wise
In the country of the corrupt honesty has no prize

Where big  money talks  bullshit does walk a mile
Babus Cops and  lawyers all do oblige with a  smile


Where the  honest and upright get punished for no crime
The crooks with their pelf easily  do buy a good time

Where  fairness truth and rectitude are burnt to a cinder
and orders and favours are sold to the highest bidder

Where an honest crusader is often driven to suicide
His money,  rights and justice are badly  denied

Where an Indian tax-payer is taken for a jolly ride
Why doesn't the government just stand by his side?

Where the ace crook is free and cocks a snook at me
I know I'm in the wrong country where I should not be
 
If this is the cesspit we wanted our nation  to be
What is the damn point of calling this country 'free'?





Saturday 23 August 2014

NSEL Investors Hanged Drawn and Quartered

 To be hanged, drawn and quartered was a  penalty in England  where convicts were fastened to a hurdle, or wooden panel, and drawn by a horse to the place of execution, where they were hanged (almost to the point of death), emasculated, disemboweled, beheaded and quartered (chopped into four pieces).

The more I see the plight of NSEL investors, the more I can relate to this English phrase.Though this penalty in England was reserved only for high treason, in India it seems to be the fate of people who invested (on strong recommendation of  national level brokers-wealth managers)  their  tax paid legitimate money at 13% in NSEL -an exchange semi regulated by the Forward markets Commission and promoted by FTIL who also promoted MCX.

NSEL investors  may be ridiculed for being greedy and reckless, called stupid for investing in an 'unregulated exchange' , found deserving of this fate for being 'speculators' and now even be branded 'bogus traders' .  If expectation of a meager 13% pre tax ( 9% post tax in an economy where food prices rise by 20% every year) return on investment is greed what would you call the stock market investors-punters who expect a daily upper circuit in the scrip they've invested? This same very greed-expectation on return on capital (which just about beats inflation) keeps the capital markets of the world and the economy ticking.

Innocent investors of NSEL seem to be a fair game for every Tom Dick and Harry (who love to take potshots at 'em)  in India as they neither have the numbers nor the political vote bank clout  to warrant attention or help. I have never been a big fan of P. Chidambaram but my disgust for him reached a new nadir when he said 'NSEL investors are no babes in the woods and they knowingly invested'.  My respect for Sucheta Dalal also nosedived the day she highlighted NSEL investors coming out of costly cars rather than focusing on her core specialty of exposing scamsters. My respect for judiciary also came down a notch when the Mumbai HC order 2 days back on Jignesh Shah's bail called me 'bogus trader' who knowingly invested in NSEL.  

Nothing can me more shocking, convoluted and  illogical.Which investor in this world would knowingly invest his tax-paid money in a fraudulent exchange sans any stocks. You need to be seriously hating your money or need to be a 'loony bin case' in order to do that. Does my money burn a hole in my pocket?  Hell No!!  Now the 'bogus'  investors in NSEL include 2 large public sector units  MMTC - PEC , an ex PM's family and an ex MP's family not to mention widows, students and middle class investors who have lost their life time savings. The criminal investigation wing of Mumbai Income Tax has already verified the authenticity of investments and account books of most NSEL investors and not found anything amiss at all.

As for we not being 'investors', here is the Oxford English dictionary definition- 'Investor': One who puts money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit:' Do you need to be a brain surgeon or a rocket scientist to figure out such a simple term? Is Greed to generate return on your investment bad? Ask Gordon Gekko of the movie Wall Street and this is what he would say-

"Greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures, the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge, has marked the upward surge of mankind and greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the U.S.A"

There is another English phrase which comes to my mind thinking of Jignesh Shah's journey so far- 'Money talks and bullshit walks'. Bigger the money , bigger bullshit it can make walk !  Mr. Jignesh Prakash Shah the mastermind and biggest beneficiary of the NSEL scam seems to be cocking a snook and having a big laugh at all of us investors of NSEL.  Mr. Jignesh Prakash Shah listen carefully- the mills of the gods may grind slow but usually they grind exceedingly fine. There is only so much bullshit you can make walk with your ill-gotten pelf and somewhere your luck will run out.The game has now changed a little in last 3 months, Your zealous  protectors and benefactors at Delhi have gone and a new brand of  upright politicians are now in the seat. We investors might have lost a battle but the war will still rage on.

Jigneshbhai ,You can also tell your sidekick Joseph Massey who claims to be a devout Christian that the bread not earned by the sweat of ones' brow is no good and 'better is a poor man who walks in his integrity than a rich man who is crooked in his ways' : Bible Proverbs 28:6





Tuesday 26 November 2013

Text messages to and From Jignesh Shah

Jigneshbhai
You've claimed to be a true Jain and have been an active participant in JITO. This seems to be an act of sheer hypocrisy as you have at least  shattered the basic 4 vows/pillars   on which Jainism rests.
  1. Ahimsa: (non Violence) The inhuman financial rape and torture of 13000 innocent investors at your hands is nothing short of a bloody massacre. No wonder FT  stands for Financial terrorism.
  2. Satya: (truth). This is the biggest casualty when you claim that you are also a victim. Various points clinchingly prove your active complicity in the fraud. You were present in every crucial meeting including the one which launched these fraudulent contracts and allowed finance without commodities to NK protein the son in law of your friend Shankar Guru. This was also a casualty when you made false promises on TV on 5th August 2013. You may want to see this video  here and laugh http://www.ndtv.com/video/player/news/financial-tech-promoter-jignesh-shah-on-nsel-payment-crisis/285683  . The fact that La-fin and your relative Mukesh Shah (abettor in this fraud) share the same address at CP tank will only nail your lie further.
  3.   Asteya:The third vow, asteya, is to not take anything that is not willingly offered.  Attempting to extort material wealth from others or to exploit the weak or gullible is considered theft. This is precisely what you have done with 15000 gullible trusting investors.
  4.  Aparigraha : means non-possessiveness.  Need I say more about what you have done to achieve material wealth and at what cost?


Do remember that as per Jainism the Karmic consequences of your acts are inevitable. Cheating 13000 people without offering penance for it will hunt you for your hundreds of births. Even in this life the mere curse of 13000 innocent people will burn you and your family down in coming years. As a fellow Jain it is my earnest request to you to mend your ways and make up for your wrong acts. Do distribute all your wealth to people who've been cheated in NSEL fraud. While greats like Bill Gates have given almost all their wealth in charity to anonymous people, all you need to do is keep 100 crores of your wealth for your family and give back the rest to all the people who've been wronged at your hands.

Do not forget that Karma is the king and watches all your acts no matter how much you manage to hoodwink FMC, courts, Ministries, ROC.

Jai Jinendra!
reply from Jignesh Bhai and my further reply --->