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Letter by Mr.vishwanath Chaturvedi to PCI and NBA (1)

Letter by Mr.vishwanath Chaturvedi to PCI and NBA (1)

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Published by pawan2225
letter by Mr, Vishwanath Chaturvedi to PCI and NBA
letter by Mr, Vishwanath Chaturvedi to PCI and NBA

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Categories:Types, Business/Law
Published by: pawan2225 on May 09, 2013
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05/09/2013

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Date: 26-Nov-2012ToThe Chairman
Hon’ble Mr.Justice M
arkandey KatjuPress Council of IndiaSoochna Bhavan8-C.G.O. ComplexLodhi RoadNew Delhi-110003ToSri K.V.L.Narayan RaoPresident AndSmt.Annie Joseph,Secretary GeneralNews Broadcasters Association01-103, Paramount TowerC-17, Community Center,JanakpuriNew Delhi 110 058.Copy to:Securities And Exchange Board of IndiaSri U.K.SinhaChairmanPlot No.C4-A,'G' Block, BandraKurla Complex,Board For Control of Cricket inIndiaSri N SrinivasanPresident"CRICKET CENTRE" WankhedeStadium,
 
Bandra (East), Mumbai 400051E-mail : sebi@sebi.gov.in'D' Road, Churchgate, MUMBAI -400 020.0Sub : Earnestly requesting the media members to not acceptadvertisements from entities in the Sahara Group as the moniesthereof appear to be illegal and could represent the proceeds of certaincrimesDear Sir1.
 
My name is Viswanath Chaturvedi. I have instituted a number of anti-corruption cases in several High Courts and the Supreme Courtand have been instrumental in exposing corruption at numerousplaces. My complete address is: S/o. Shri M.P.Chaturvedi, R/o.No.335, Second Floor, Double Storey, New Rajendra Nagar, NewDelhi 110 060. Mobile: +91 9868984938. Email:vmc.advocate@gmail.com2.
 
I invite your at
tention to the judgment of the Hon’
ble SupremeCourt dated 31-Aug-2012 in Civil Appeal No..9813 OF 2011 [SaharaIndia Real Estate Corporation Limited Versus Securities andExchange Board of India] combined with Civil Appeal No. 9833 OF2011 [Sahara Housing Investment Corporation Limited VersusSecurities and Exchange Board of India]. A copy of the said judgment is attached herewith. (Annexure A).3.
 
You may note from the aforesaid judgment that the companiesreferred therein are part of what is publicly referred to as the
“S
ahara G
roup”
 
or “Sahara Parivar”
. The Supreme Court hasadjudged that the scheme floated by the aforesaid two companies
 
to collect monies from the public was grossly and wholly illegal andhas therefore, directed a timebound refund of Rs.24029.73 Crorestogether with interest at the rate of 15% per annum thereof.4.
 
It is common knowledge that the
“S
ahara G
roup” is the largest
advertiser in the mainstream media, both print and electronic inIndia. They are the sponsors of the Indian Cricket Team and severalother sporting teams. This nexus might explain the fact that themainstream media simply steered clear of airing any discussion ordebate on the aforesaid judgment and decree against the twoSahara companies.5.
 
As the media has generally retained complete silence on the fraudperpetrated by the aforesaid two companies, in order to shedsome perspective on the seriousness of the conduct of theaforesaid Sahara companies as detailed in the very judgment of theSupreme Court, I herewith attach two blogs by independent critics
 –
one by Sri K.V.Dhananjay, Advocate, Supreme Court and anotherby Smt. Sucheta Dalal, the journalist credited with exposing severalfinancial frauds and scams, most notably the Harshad Mehta andKetan Parekh scams. (Annexure B and C respectively)6.
 
It is not my intention here to compel the mainstream media todiscuss or to debate the aforesaid judgment of the Supreme Courtor upon the subsequent developments thereof. The media in anydemocracy has a choice over what shall be its content and I fullyrespect such choice even when it is plainly evident that its choice isinformed less by public concern and largely by advertising revenue.

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