New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
New Delhi: Chinese Foreign Minister Wang Yi Tuesday pushed for a “dual-track” progress for ties with India, separating economic ties from the boundary question,...
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
The Indian govt through the Enforcement Directorate and other agencies must maintain a strict vigil over the activities of foreign banks in India. It is an open secret that the millions of dollars stashed away in tax havens like Switzerland, Cayman Islands, etc. have been routed to these nations/territories via the big names of international banking. The foreign banks operating in India have been complicit in advising and helping their clients route their legally taxable incomes in India to these tax havens in order to avoid paying what is due of them.
Some banks have been penalized by the RBI for such activities. But increasingly it is getting clearer that there is much more to it than what meets the eye. It is a very well oiled network of banking transactions which results in taxable Indian earnings ending up in bank accounts at Cayman Islands and Switzerland. And some of the most reputed international banks are aiding and abetting this process hile earning billions as profit or their share of the “loot”.
If Goldman Sachs can have fraudsters, one can imagine how many more may be in Indian companies. It’s not just employees, even promoters of Indian companies are involved in frauds. Indian economy can’t be built by such companies for whom money is every thing. I say this is the result of Congress ideology where people with moral values are laughed at and termed as low level religious people. There has to be a reason for most Congress leaders being corrupt.
The Indian govt through the Enforcement Directorate and other agencies must maintain a strict vigil over the activities of foreign banks in India. It is an open secret that the millions of dollars stashed away in tax havens like Switzerland, Cayman Islands, etc. have been routed to these nations/territories via the big names of international banking. The foreign banks operating in India have been complicit in advising and helping their clients route their legally taxable incomes in India to these tax havens in order to avoid paying what is due of them.
Some banks have been penalized by the RBI for such activities. But increasingly it is getting clearer that there is much more to it than what meets the eye. It is a very well oiled network of banking transactions which results in taxable Indian earnings ending up in bank accounts at Cayman Islands and Switzerland. And some of the most reputed international banks are aiding and abetting this process hile earning billions as profit or their share of the “loot”.
Don’t Goldman Sachs defrauds its clients and the general public all the time? What’s surprising when its own employee returned the favor?
Sources:
Goldman Sachs: A Criminal Enterprise (https://hendersonlefthook.wordpress.com/2014/07/04/goldman-sachs-a-criminal-enterprise/)
Goldman Sachs and the 1MDB Scandal (https://corpgov.law.harvard.edu/2019/05/14/goldman-sachs-and-the-1mdb-scandal/)
If Goldman Sachs can have fraudsters, one can imagine how many more may be in Indian companies. It’s not just employees, even promoters of Indian companies are involved in frauds. Indian economy can’t be built by such companies for whom money is every thing. I say this is the result of Congress ideology where people with moral values are laughed at and termed as low level religious people. There has to be a reason for most Congress leaders being corrupt.