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Who Is PM, Mukesh Ambani or Rahul Bajaj?

Posted by egovindia on August 5, 2006

Who Is PM, Mukesh Ambani or Rahul Bajaj?

 

Dear KD,

It is most disgraceful the India is run by Mukesh Ambani/ Rahul Bajaj instead of –. This what we have been emphasizing in “indianthinkers groups”. Both are blood suckers and top crooks.

 

My Urgent Petition to the President regarding in loot SEZ projects follows this TV18 story.

 

Ravinder Singh

 

http://news.moneycontrol.com/india/news/business/rahulbajajsez/didrahulbajajmukeshambanilockhornsoversez/market/stocks/article/229788

Did Rahul Bajaj, Mukesh Ambani lock horns over SEZ?

2006-07-24 21:04 Source : Moneycontrol.com

Rahul Bajaj made his debut as a parliamentarian today and began by taking on the government’s SEZ policy. But like a tactful politician, he dismissed reports of having clashed with Mukesh Ambani at a meeting with the Prime Minister last week reports CNBC-TV18.

Chairman, Bajaj Auto, Rahul Bajaj said, “I couldn’t understand what Kamal Nath tried to explain. But if people like him are in the government and the government accepts this, there must be something, but I can’t understand.”

Mukesh Ambani seems to be off the hook but Commerce Minister Kamal
Nath is in the firing line. At the Prime Minister’s Trade And Economic Council in the capital last week, Rahul Bajaj and Mukesh Ambani reportedly locked horns over the government’s SEZ policy.

Bajaj says that the government shouldn’t encourage foreign investment at the cost of domestic players. He also feels that the government is ignoring existing industrial hubs and says the SEZ policy will benefit the bigger plays.

While Bajaj and Ambani may have differed on SEZs, they were together on the demand for setting up manufacturing and services hubs catering to domestic players with the same incentives as SEZs.

Chairman, Bajaj Auto and Rajya Sabha MP, Rahul Bajaj said, “Mukesh Ambani is the country’s top industrialist and my younger brother, but I will speak whatever is good for the country.”

The PM’s trade council had recommended setting up international financial hubs in the country. Sources say that Mukesh Ambani pitched for the first hub to be set up in a Reliance SEZ in Mumbai.

Ambani also told the Prime Minister that the biggest stumbling blocks for industry were water and power shortages, a concern echoed by Rahul Bajaj.

 

 

 

Urgent e.Petition / 14-06-2006

 

Honorable President Of India,

Shri. APJ Abdul Kalam.

 

Honest Amitabh Bachchan And

Reliance Two SEZs Loot = Rs. 675,000 Crores

 

Respected Sir,

 

It is unfortunate that India’s most loved and admired super star, highest tax payer and unquestionably the most honest and ethical personality in India is being subjected to needless politically motivated harassment.

 

No doubt he may have transferred some money in early part of his career when film makers spending $1000 in a foreign location were required to repatriate $10,000. And in addition pay income tax in excess of 60%, to buy any equipment car or appliance pay over 200% duty and taxes.

 

Even though his ABCL lost some hundred crores but he didn’t default in payment to any of his lenders when he had the option to walk away and shut down the business.

 

Loot Of Reliance.

 

On February23, 2006, Reliance bid Rs.1104 crores for 7.5 hectare or 18.75 acre plot in Bandra Kurla complex. Soon after Unitech bid Rs. 1583 crores for 340 acre plot in Greater Noida complex, some 30 kilometers from New Delhi.

 

Reliance bid for Bandra Kurla was @ Rs.60 crores per acre and Unitech bid for Greater Noida plot was @ Rs.4.65 crores per acre. Since property value in Gurgaon is over three times of Greater Noida, the expected bid rate could have been Rs.15 crores per acre.

 

But Haryana government sold more than 1700 acres of acquired land to Reliance SEZ for around Rs.360 crores only when just this peace of land could have earned Haryana government Rs. 25,000 crores i.e. clear loss of Rs. 23,000 crores.

 

Reliance SEZ in Haryana is proposed to be 25,000 acres plot. Even at average rate of Rs.6 crores per acre*, its bid value can not be less than Rs. 150,000 crores. (*Price of land in SEZ tax free zone ought to much higher than the figure considered)

 

Reliance SEZ in Mubai of 140 sq.km or 35,000 acres @ Rs.15 crores per acre* could fetch Rs.525,000 crores to Maharashtra government.

 

In just two of many SEZs approved to Reliance bid amount shall be Rs. 675,000 crores which is a loss to farmers and two state governments.

 

In legally correct procedure GOI and state governments shall earn huge some of money that they don’t need to collect any tax.

 

Fact is “Under Hand” tax breaks and concessions allowed to industry annually, dubbed as “Tax Dodges By Business Standard” is in the region of Rs. 1,56,000 crores, many times the income tax and corporate tax.

 

Important Notice: –

 

1.  Please note that Reliance loot is unprecedented not just in India but the in the world.

 

2.  Please also note no one, neither farmers nor governments nor future buyers benefit from this “Loot” and the only gainer is Reliance.

 

3.  Please also note that Reliance has indulged in illegal and criminal activities like re-routing of international calls, how Reliance is allowed to even bid for any government tender let alone biggest SEZ projects.

 

4.  Please also note that it is big fraud on people of India that their money deposited in Banks and invested in Reliance companies is misused in illegal manner without their consent or information to clandestinely enrich Mukesh Ambani.

 

5.  Please also note here in this “Loot” no technical or entrepreneurial skills are involved.

 

Most Important: Equal Opportunities And Level Playing Field

 

6.  Most important of all GOI has to ensure equal opportunity and level playing field to all Indian companies and entrepreneurs and in present globalized world even to foreign investors. {Unitech paying Rs. 1583 crores for 340 acres in Greater Noida, while Haryana government allowed Reliance to take over 1500 acres for around Rs. 360 crores in three times more valuable Gurgaon worth Rs.22,500 crores without any bids or global bidding.}

 

7.  Most importantly it is constitutional responsibility of the government to ensure “Balanced Growth Of The Country”. Government can’t allow “Ambani Enclaves” which I refer to as Ambani Desh to come up in India through illegal patronization of Mukesh Ambani.

 

8.  Most importantly it is criminal misconduct of the government to let Ambanis to tunnel into “Public And Private Funds”.

 

CONSTITUTIONAL RESPONSIBILTY OF THE PRESIDENT:  

 

9.  It is the constitutional responsibility of the President to prevent such unprecedented ABUSE of Indian government in allowing loot of public money, enriching Mukesh Ambani and creating uneven opportunities for competition and promoting unbalanced growth of Indian economy.

 

10.  President has powers to refer this petition to the CJI for opinion and action and forward this petition to all Political Parties registered with the Election Commission of India for their opinion.

 

11.  President may exercise all its powers to prevent Rs. 6,75,000 crores loss to farmers and two state governments in just two SEZ projects of Mukesh Ambani.

 

12.  President may also direct IT department to investigate illegal “Tax Dodges” allowed to Reliance over last 25 years.

 

Hope Our President Shall Uphold The Constitution Of India And Safeguard Interest Of The People Of This Country.

 

People Of This Great Nation Are With You And Bless You In Discharging Your Constitutional Responsibility.

 

Important clippings from the press reports follow this e.Petition.

 

Thank you,

 

Faithfully

Ravinder Singh,

Inventor

 

Corruptionfree04@yahoo.com, povertyfree77@yahoo.com        

 

http://www.thehindubusinessline.com/2006/02/24/stories/2006022401710900.htm

 

Reliance bid boosts Bandra Kurla complex

Tunia Cherian George

Mumbai , Feb. 23

 

Reliance Industries’ record Rs 1,104-cr bid for a 7.5-hectare plot at the Bandra Kurla Complex (BKC) establishes the complex as one of the most sought-after real estate pockets in Mumbai.

 

The bid, at one shot, has catapulted real estate prices in the suburbs. At Rs 18,104 per sq ft, the BKC plot is more expensive than Nariman Point, the city’s original central business district, where the prevailing rate is Rs 10,000-12,000 per sq ft.

 

According to hoteliers and real estate consultants, the development of BKC (with a large convention centre and hotels to meet the expected demand) and real estate at Lower Parel and Navi Mumbai, where a second airport is proposed to be set up, would gradually diminish the development divide between the Southern and Northern extents of the city.

 

Mr Ratnesh Verma, Area Director, South Asia, Hyatt International, says, the development of at least half a dozen luxury hotels in and around the international airport at Sahar had lead to a demarcation of the southern and northern business districts in the past. However, the market is likely to realign, with real estate in Lower Parel and BKC coming into the market.

“As Mumbai develops in a more even fashion, the demarcation between the North and South will vanish and businesses are likely to stretch right from the southern to the northern reaches of the city,” he said.

 

Hyatt International has two properties in the western suburbs, the Grand Hyatt at Santa Cruz and the Hyatt Regency, an airport hotel at Andheri.

 

The development of the exhibition and convention centre, Mr Verma says, would increase demand for rooms in the vicinity, and drive business for the Grand Hyatt and the clutch of hotels in and around the domestic and international airports. Even today, occupancy rates in the hotels in the North lead those in the South.

 

http://www.gurgaonscoop.com/story/2006/5/23/85955/5098

http://www.outlookindia.com/pti_news.asp?id=387115

 

In the single largest real estate project in India, Unitech today outbid rival DLF Universal to bag the 340-acre city development contract on Noida Expressway with an offer of Rs 1583 crore.

 

Reliance Industries had bagged a tender in January for Bandra Kurla complex for Rs 1104.11 crore for the biggest deal till now.

 

A euphoric Sanjay Chandra, Managing Director of Unitech, told PTI immediately after opening of the bid, “we won the bid today and will finance the entire project from internal accurals, which have already been lined up.

 

“Once we have firmed up the plans and other details, we will start marketing the product in the Noida Expressway City, which we hope to commission in less than three years from the zero date,” he said.

 

For the project where 50 per cent land would be used for open area development and greenery and the rest for residential accomodation, Unitech had bid at the rate of Rs 11,529 per square metre.

 

DLF had put up a bid of Rs 1,401.46 crore at the rate of Rs 10,200 per square metre, sources in the know of the development said.

 

The Rs 1100 crore Unitech, has woven a major sucess story recording over 1000 times growth in its share prices at Rs 10,016 a share (today’s closing), would develop the city as low density residential place for high end customers, Chandra said.

The company split its equity share of Rs 10 into five equity shares of Rs 2 each and has convened Extraoridinary General Meeting of its shareholders on June 16 to seek their approval for the same.

 

It is also proposing to enhance its authorised share capital to Rs 210 crore from Rs 35 crore. Unitech has build over 30 million square feet of residential township.

Besides Unitech, DLF and Bangalore-based I City Infrastructure were also in the race.

 

Losing the deal could prove to be a setback to DLF, which is hitting the capital market with largest ever public offering next month, analysts said.

 

The Noida Authority had opened the technical bids on May one for the sectors 96, 97 and 98.

 

From The Outlook – May 23, 2006

http://www.indianexpress.com/story/6331.html

 

Land grab charge puts spotlight on Reliance’s mega SEZ in Haryana

MUKESH BHARDWAJ  mukesh.bhardwaj@expressindia.com

 

Posted online: Tuesday, June 13, 2006 at 0000 hrs IST

NEW DELHI/ CHANDIGARH, JUNE 12

NEW DELHI/ CHANDIGARH, JUNE 12:The Congress high-command has warned Kuldip Bishnoi, the MP son of Haryana PCC chief Bhajan Lal, to back off from his opposition to the mega Special Economic Zone (SEZ) project planned by Reliance Industries Limited (RIL) in Haryana.

 

A source in the party said a show-cause notice could be issued against Bishnoi.

 

This is the second time that the high-command has intervened to support Mukesh Ambani projects. Last month in Punjab, it had put down Congress leader Jagmeet Singh, who opposed Chief Minister Amarinder Singh over land acquisition for an RIL project.

 

The Haryana controversy is over 1,700 acres of prime land near Gurgaon, part of 25,000 acres meant for the RIL SEZ. While critics say the market rate of the land is about Rs 5,000 crore, the state government has offered the land for about Rs 360 crore to the company.

 

An agreement that was to be signed on Monday was put off at the eleventh hour and is now likely to be signed on June 19. Both RIL and the state government say the deal will be through next week.

 

Haryana Chief Minister Bhupinder Singh Hooda said today that the signing of the Reliance SEZ project was not deferred because of a concern raised by Congress president Sonia Gandhi. Rather, he said, it was postponed only on request from Ambani, who had returned from the US yesterday and wanted some time for signing the MoU.

 

“There is no political motive behind this delay in signing of the MoU and there was no question of reviewing this prestigious project,” he said, adding that the SEZ would generate employment for five lakh persons and revenue of Rs 10,000 crore per year.

 

Sources also said that Ambani had some queries over certain clauses of the project, by which the land was to revert to the government in case the company abandons the project midway. ‘‘Ambani himself wanted to study the project report before putting his signatures on the agreement,’’ said a top RIL official.

There had been no opposition until the government decided in favour of the Reliance demand to hand them over the already-acquired 1,700 acres at Garhi Harsaru in Gurgaon as part of the Reliance SEZ at almost the same price at which it was purchased.

 

The HSIDC had acquired this land at Rs 300 crore by paying compensation to the farmers at a rate that varied between Rs 10 lakh and Rs 15 lakh per acre.

The Hooda government had more than doubled the rate of compensation after taking over. The market rates of the land in that area vary between Rs 50 lakh and Rs one crore per acre.

 

Both the INLD, the main opposition party in the state, and Bishnoi had maintained that the 1,700 acres were worth Rs 8,500 crore, depending on the present value of land in that area. However, realtors put the price of the land at about Rs 5,000 crore.

 

According to the sources, the government was to sell this land to Reliance at Rs 360 crore after imposing 9 per cent holding charges and 15 per cent administrative charges. The government had already incorporated a company to execute this project under a joint venture. The government was to get five per cent sweat equity in the SEZ for its role of a facilitator for the project.

 

Reliance’s mega SEZ

• Investment: Rs 25,000 cr-Rs 40,000 cr

• Total area: 25,000 acres

• Low polluting units: 6,500 acres

• Infrastructure: 5,000 acres

• Residential: 3,750 acres

• Commercial Establishments: 5,000 acres

• Institutional/Recreational area: 1,250 acres.

mukesh.bhardwaj@expressindia.com

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