National
Will move courts, unless SEBI probes complaints against Tatas, says Swamy
New Delhi, Oct 11 (IANS) Accusing the market regulator of “evading investigations” against the Tatas on complaints made by him, BJP leader Subramanian Swamy has asked the Securities and Exchange Board of India (SEBI) to order a “comprehensive” probe, else he would approach the courts for redressal.
“It is not for SEBI to rely on self-certification from the companies who themselves are under investigation and abdicate their legal and fiduciary responsibilities,” Swamy said in a letter written to SEBI Chairman Ajay Tyagi on September 28, 2017.
The letter levels allegations against Tata Steel, Tata Motors and Tata Chemicals. A copy of the letter is with IANS.
“Is it appropriate for SEBI to delegate an investigation to the very companies who are the subject matter of the investigation, whether or not it is done by the audit committees or otherwise?” he asked.
Swamy also said that SEBI’s response on insider trading allegations against Tatas was “just plain prevarication.”
Asked to react to Swamy’s letter, Tata Motors declined comment. “We will not comment as you may check with (the) Group,” a spokesman for the company said.
When approached, Tata Sons spokesperson also declined comment.
Similar emails sent by IANS to Tata Steel and Tata Chemicals went unanswered till the time the story was moved on the wires.
Expressing his dissatisfaction regarding the response from SEBI to an earlier letter, Swamy in his missive said: “I can only conclude that SEBI is trying to avoid and evade the investigations which are its responsibility under law just because the allegations have been made against the Tatas.”
He said Tatas themselves had been accused in “both the 2G scam and the coal scam especially arising from deplorable revelations before the Supreme Court in the Niira Radia Tapes” matter.
“The result is that the audit committees at Tata Steel, Tata Motors and Tata Chemicals are not legally constituted as they do not comply with the provisions of the Laws and Regulations for the definition of an Independent Director,” the letter stated.
“Furthermore, the provision for an Independent Chairman of the Audit Committee has not been complied with as the Chairman of the Audit Committees of two companies namely Tata Motors and Tata Chemicals is clearly not independent,” being a Trustee of the Sir Ratan Tata Trust.
Unless SEBI sets up a comprehensive investigation into the three complaints made on each of the companies, under the chairman’s supervision, Swamy said, “I shall have no alternative but to approach the courts.”
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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