848 Govt. of India should request retiring CJI Shri T.S. Thakur to lead an Investigation Team to look into the affairs of TATA Companies and Trusts

Hon. Chief Justice of India, Shri T.S. Thakur is going to retire on 4th Jan. 2017, after completing his 65 years of age. From the manner in which he conducts/conducted the proceedings of Supreme Court of India, this blogger ybrao-a-donkey gets an impression that, for his age, he is quite energetic, and there is substantial fuel and vigor left in him both physically and emotionally. It will, therefore, be in the fitness of things, that his services are used by Nation for National Benefit. We know that Mr. Narendra Modi Government is not in a mode to appoint a Lok Pal, unless it can find some one who is really ductile, malleable, and pliable. It does not mean that we should allow Shri Thakur to leave as a person whose services could not be effectually utilised by the Nation.

TATA GROUP AFFAIRS - WASHING DIRTY LINEN

Our Readers are aware that TATA Group of Companies are going through a period of stress of Corporate Governance, with the mutual accusations of Mr. Cyrus Mistry, the ousted CEO of Tata Group, and Mr. Ratan Tata, the former CEO + patriarch + de facto CEO of Tata Group. On 26th Oct. 2016, Mr. Cyrus Mistry alleged directors at India’s largest Corporate Giant of wrongfully dismissing him and warned that the Tata Group may face $18 billion in write-downs because of five unprofitable businesses he inherited. The entire Nation is enamoured and in the grip of standing in ATM queues, in an attempt to find cash for day-to-day sustenance of lives, and livelihoods. Consequently, much of what has gone in TATA Group Companies might have escaped attention of Indian Citizens. There is also a lurking danger of (I wish that it should not happen) Tata Group of Companies also going in the KingFisher and Vijay Mallya trajectory.

FACTS AND GRAY AREAS NEED DEEP INVESTIGATION

We know from history, and current affairs, that whenever there are mutual allegations, there will be some truths in the arguments of both the parties, and that there will be some gray areas which none of the two combatants may not like to touch, because in addition to the vulnerabilities of the other party, their own vulnerabilities will also come out. It will, therefore, be in the fitness of things that the goings on in the Tata Group Companies, Tata Sons, Tata Trusts are all studied in depth, by impartial persons, who are well versed in country's Business Law, as well as who have "sraddha" (sincerity and dedication) towards natural justice.

TOP TEN ITEMS WHICH CAN BE GIVEN AS TERMS OF REFERENCE TO THE SPECIAL INVESTIGATION TEAM (SIT)

1. Whether any Profits & Loss accounts, Balance Sheets have been fudged.

2. Whether all the assets physically exist, and their valuation conforms to the Standards of Accounting Practices.

3. Whether there are any understatements of liabilities.

4. Indepth audit of physical existence of stocks (inventory).

5. Whether there are any breaches of Trust, in TATA TRUSTS?

6. Whether there are non-permissible Inter-Corporate Investments?

7. Whether payments made to the CEOs, Directors, Trust Members are all in conformity with the Company Law, Trust Laws, good global principles of Corporate Governance.

8. Whether there are any violations of erstwhile FERA, present FEMA, and Money Laundering Act?

9. Whether there are any present/future risks of Indian Assets of the Tata Group Companies being attached by foreign courts, to satisfy the overseas liabilities of Overseas Companies registered by Tatas abroad?

10. Whether all the loans/advances/guarantees extended by Indian Public Sector Banks are safe, and possibilities of Public Sector Banks losing their funds a) within India b) outside India.

Incomplete. To continue. सशेष. लिखने के लिये और बहुत है। جاری رکھنے اور مزید لکھنے کے لئے ఇంకా వ్రాయాల్సింది బోలెడు ఉంది.