Sahara SEBI Issue – Statement from Keshav Mohan, Advocate

We are disappointed with the judgment that has been delivered by the Hon’ble Supreme Court earlier today. We are still in the process of reading and understanding the judgment. The voluminous evidence that we have already submitted to substantiate our stance may have possibly been misunderstood.We maintain that we have already refunded to 93% of our investors. Most of the payments made were in cash, as per the RBI norms and in accordance with SEBI and SAT orders. In addition to ledger entries, we had also submitted original vouchers, receipts and other concerned documents in original being physical proof of the payments and are with SEBI pending verification.

We expect to return to the Hon’ble Court in the near future with further evidence of our compliance of the Hon’ble Court’s previous orders, and to satisfy the Hon’ble Court of our earnest intentions moving forward.
The Hon’ble Court has indicated that it expects us to make a new proposal. Since the beginning, we have been trying hard to present the best practical proposal. We have always maintained that this will be actually a double payment which we are asked to make hence a serious relook into the business and financial status is required each time. In light of today’s direction, we will try our best to derive a fresh proposal to the best of our capacity and hoping to satisfy the Hon’ble Court. For this, we would also apply to the Hon’ble Court that our properties and bank accounts be defreezed so that we are in a position to come up to the expectations of the Hon’ble Supreme Court.
We take this opportunity to reiterate our deep and abiding respect for the Hon’ble Supreme Court of India and our commitment to follow the order in letter and spirit.

Keshav Mohan
 Advocate

Foreigners in a ‘foreign’ land

Has India become an unfriendly country?

It is not safe for foreigners.

It is not safe for women

It is not even safe even for Indians of a "particular" physical appearance from a specific "geography" within India. What happened to the ancient Sanskrit maxim of "Athithi devo bhava", which enjoins us to treat guests as gods? What happened to our civilizational ethos, based on a long history of openness and fairness?

In recent months there have been many instances that have shaken our faith in this long-held belief. These have been widely reported and commented on by mainstream media, but the debate, as it happens too often in our bite-obsessed news culture, has sadly withered away. Until the next time. Not all foreigners in India are tourists who are passing through.

Since liberalization India has become a global hub for immigration. According to one estimate, there are around 54 lakh foreign immigrants residing in the country. Obviously not all are diplomats. Many of these expats have come in the past few years to tap into the opportunities India has to offer, -- its complex and colourful culture, rich history and growing economic clout. They are however only the latest wave of foreigners to be drawn to our land. For centuries they have come as colonizers, missionaries, volunteers and escapees from persecution in other countries. Few went back. Most of them found a home and stayed to become part of the culture. This ability of Indian society to accept, absorb and assimilate even those who were alien to our culture stems from the deeply held belief that Guests are akin to God.

But no longer, it seems.

Foreigners residing in India now routinely face racism and intolerance from xenophobic Indians. There is another sad and despicable distinction that one notices about our behavior towards those from other nations and cultures. The more affluent among them are treated better. 'Whites' are treated better than those from African or Asian nations.

Anywhere else treatment of foreign emigrants would be a political issue. Immigration and the influx of foreigners is a major debate in Europe, the United States and other developed nations. It is not in India, probably because political parties do not consider them as a vote-bank to be courted. If they could vote, the political parties would be flocking to take up their cause.

It is high time we recognize the need for the right to live well and treated fairly FOR ALL. For that, firstly we have to realize that we have a problem. We have to stop pretending to ourselves there is no racism in the country. And our political parties need to take a principled stand on this. Will they?

http://harshavardhanreddyeikon.com/foreigners-foreign-land/