Thursday, December 8, 2016

Re: [IAC#RG] 're stayed purpose of notes ban

Dear Mr Roy Sir,

Good morning.

I respect you for your clarity of thoughts, chaste lexicon and also dedication and concern of collective well being of our Nation and its prople.

Having said that, I also fail to understand as to why you opposes anything and everything or initiative of present political dispensensayion.

First of all, there cannot be any initiative which can satisfy all.  I am honestly apolitical and also am firm in my belief that present political dispensation is not holy cow either. However, I have no doubt that this dispensation is at least trying to bring the Nation from inertia and move from the status quo.  Sir, I find IAC as a forum of cynicals who are just there to criticise and condemn anything and everything. In would be in the fitness of things if better options are also suggested instead of just cribbing.

Emergence of Kejriwal, for which IAC is mainly responsible, is a tragic chapter of IAC as a movement. I think IAC should apologise for creation of this evil known as Kejriwal.

Forgive me for being too much judgemental and bit blunt - IAC forum in its present form is tantamount to a Debating Club where intelligence is waisted in cribbing and an effort is made by many members to project themselves as 'out of Box Thinkers' without contributing anything constructive.


SR Singh
On Fri, 9 Dec 2016 at 5:25 AM, Sarbajit Roy <> wrote:
Dear Respected Shri Kanungo ji,

Your very pertinent and deep question addressed to "Mrs." Joya Roy requires a frank

response for better appreciation between patriots of "India" versus

nationalists of "Bharat" and so there is no misunderstandings / acrimony.

On this IAC mailing list we always try to ensure that everybody is a true person, irrespective of their political ideologies, and has the culture / welfare / development of India, ie, Bharat, especially the poor people, at heart.

In this process of accelerated national development the poor get disproportionately poorer while great wealth accumulates in the hands of the1%. As a noted and well connected CA you would know much better what is transpiring on the financial side, but "India" views it as unConstitutional that Fundamental "duties" are being thrust on India's citizens while the Directive Principles against accumulation of wealth in hands of few are flouted by "Bharat".

In "India", Mr. Modi is viewed, rightly or wrongly is not the present issue, as a selfish, arrogant, cunning, ruthless agent of capitalism (aka development) for whom it is immaterial if thousands/lakhs/millions of poor people die/suffer so that his crony capitalist friends / sponsors can enrich and engorge themnselves, and all the while he was self-promoting himself in cover of 'bhagwa' or nationalism or both (much like another capitalist yoga 'Swami' does nowadays).

So India is asking questions on these unholy secret deals like

1) Is it correct that the black money of India is hardly held in currency notes or foreign bank accounts, but is converted into wealth in assets held all over the world, or invested in India either through the stock market (P notes, FDI FPI etc.), real estate or gold and bullion or other assets, and the large holders of black money have already laundered their money through small and insignificant countries like Mauritius, Cyprus and Singapore after sending it abroad through havala and bringing it back through faceless and anonymous front companies into India as 'Foreign Investments ?

2)  As a noted CA of Mumbai you would surely recall cases in August 2016 like these Rs 2000 crore hawala scam unearthed in Mumbai and from which particular scam IAC came to know on 16 Sept 2016 that 500

and 1,000 notes were being demonetised with effect from 1-Jan-2017.
So we (the people of India) ask which particular state / community / diaspora was behind this scam and who the de-facto CM of that state continues to be ?

3) As a noted CA can you confirm if under the "Black Money and Imposition of Tax Act, 2015" only about 650 disclosures were made, mostly whose names were already known but to whom notice was not given under section 71 for accounts held in other Banks, and in effect this great scheme cooked up by Modi / Jaitley was a bailout for persons involved in stock market scams and who were already under the scanner by the SIT so that they would pay lesser taxes and not have their names revealed and leave their reputation intact ?

4) As the leading CA of Mumbai you would know that money in P Notes was last estimated at over 2 lakh crores, and 85,000 crores of this was from the tiny island in the Caymans half a world away. In fact, Bharat Sarkar has negotiated soft and humiliating treaties with these tiny countries like Mauritius, Cayman island, Singapore, Seychelles, Panama, British Virgin Island etc. only to let off the big sharks involved in generation and laundering of black money, and all the treaties negotiated with these tiny countries are with prospective effect, that is from 2017 onwards when they would be obliged to make disclosures and share information on tax evasion but does not cover the prior period. If this is so why such eminent honest nationalists like Mr. Jaitley and Mr. Modi have not repudiated these treaties but were actively promoting and amending them on May 2016?

"India on Tuesday signed the protocol amending the Double Taxation

Avoidance Agreement (DTAA) with Mauritius. While the protocol gives

India the right to tax capital gains arising from sale or transfer of

shares of an Indian company acquired by a Mauritian tax resident, it

proposes to exempt investments made until March 31, 2017, from such

taxation. The government also said that shares acquired between April 1,

2017 and March 31, 2019 will attract capital gains tax at a 50%

discount on the domestic tax rate — i.e., at 7.5% for listed equities

and 20% for unlisted ones.

Therefore, any reasonably intelligent person would know that this great anti-poor demonetisation exercise is only a component of an unholy, non-transparent undemocratic well planned conspiracy to loot the poor of India and to further accumulate the wealth in hands of the 1% (who are mostly from a a particular region / community / caste) from more stock / forex market manipulations.

Nonetheless, the sons of India are always at service for Vikas of Bharat.


Sarbajit Roy

On Thu, Dec 8, 2016 at 8:20 PM, OM KANOONGO <> wrote:
Mr. Joya Roy,
In order to appreciate your views, it is important to know from you what are the unholy, secret, long term and undemocratic aims of the leadership.

Post: ""

Exit: ""

Quit: ""



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