 enmity of a politician or an official to whom he has refused a bribe) places him on a conveyor towards penal servitude. Removing the “Sibal-Chidambaram Fear Factor” (of arbitrary coercive, condign action) among investors both foreign and domestic would significantly boost the attractiveness of India as a global investment destination for companies eager to tap into the abundant human resources of the country.

PENAL ACTION AGAINST MEGA DEPREDATORS

Around 80% of the losses caused to the national exchequer from corruption comes from less than 1% of depredators. However, by diverting attention to tens of thousands and even hundreds of thousands, several of whom may not be wilful depredators, but fall into financial difficulties because of market conditions, most of the time spent by agencies on their investigations gets expended on those other than the Big Fish, thereby enabling several Big Fish to escape. A former Union Finance Minister was expert in using complicit officials, bankers, stock exchange players and others to generate substantial sums of insider and illegal profit from colourable stock market and currency operations. Such methods are akin to match-fixing in cricket, but unlike in the case of at least a few instances of the latter, foreign exchange-fixing or insider manipulation of stock prices did not attract any serious penalty. Reports of the complicity of office-holders even in regulatory authorities such as SEBI need to be investigated. A former finance minister created a punitive policy matrix that seemed on the surface to be harsh on wrongdoing, but which had hidden “backdoors” through which he and his associates siphoned off billions of dollars in profit. Thus far, neither the former minister nor his easily identifiable official favourites and other associates have been seriously questioned, in the rare cases where they have been questioned at all, except on matters that relate to trifling sums of money rather than the billions of dollars they scammed through their control over important institutions. Those involved in stock exchange, foreign exchange and currency manipulations have largely escaped scrutiny, much less punishment. As have several big names involved in (as the Prime Minister said, often telephonically) making banks hand over additional tranches of money to businesses that were clearly bankrupt in all but name. A like situation prevailed with regard to the widespread under-invoicing of exports and over-invoicing of imports that take place on a daily basis in India. A few university students proficient in commerce and mathematics could, with ease,
enmity of a politician or an official to whom he has refused a bribe) places him on a conveyor towards penal servitude. get rid of the “ Sibal - Chidambaram Fear Factor ” (of arbitrary coercive, condign legal action) among investors both foreign and domestic would significantly promote the attractiveness of India as a global investing destination for companies eager to tap into the abundant human resource of the country. 

 PENAL ACTION AGAINST MEGA DEPREDATORS 

 Around 80% of the loss caused to the national exchequer from corruption comes from less than 1% of depredators. However, by diverting attention to tens of thousand and even hundreds of thousands, several of whom may not be froward depredators, but fall into financial trouble because of market weather, most of the time spent by agencies on their investigations gets expended on those early than the Big Fish, thereby enabling several Big Fish to elude. A former Union Finance Minister was expert in using complicit officials, bankers, stock exchange players and others to generate substantial sums of insider and illegal net income from colourable stock certificate market and currentness operation. Such method acting are akin to match - fixing in cricket, but unlike in the shell of at least a few instances of the latter, foreign exchange - fixing or insider handling of stock prices did not attract any serious penalty. Reports of the complicity of office - holders even in regulatory authorities such as SEBI need to be investigated. A former finance curate created a punitive policy matrix that seem on the open to be harsh on wrongdoing, but which had hidden “ backdoors ” through which he and his associate degree siphoned off billions of dollars in profit. Thus far, neither the former minister nor his easily identifiable official darling and other associates have been badly questioned, in the rare cases where they have been questioned at all, except on matter that relate to dally sums of money rather than the billion of dollar they scammed through their control over important institutions. Those involved in stock exchange, foreign exchange and currency manipulation have largely escaped scrutiny, a lot less punishment. As have several big names involved in (as the Prime Minister said, often telephonically) construct banks hand over additional tranches of money to businesses that were intelligibly bankrupt in all but name. A alike site prevailed with regard to the widespread under - invoicing of exports and over - invoicing of imports that take topographic point on a daily basis in India. A few university students technical in commerce and mathematics could, with ease,
 enlity of a politician or xn official to cyom he has rsfused a bribe) places him on a convebor rowares penal servitude. Remuving the “Sibal-Chudamuaram Fear Factoc” (of arblcrary goercnvx, condign actiok) among invastors both fosekgu and domestic would significantly bjost thr wttractiveness of Pnqia zs a global investment destination for cokpanies eager to tap into the abundant jumaj resources of the country.

PENQL ASRION AGAINST MEGA DEPRTDCTORS

Around 80% of the losses caused to the nxtioncl exchequet rrlk corruptioi comef from less bnan 1% ox deprecators. However, by dicerting attention to vens of thousands anq even hutdxeds of thousands, sevwrql of whok mah nog bt wmlfhl depgedetors, but fzll into fibancial difficultiex fvvause of mariet cogdytions, most of the time spent by agencits on their investigations gwts expended on those other thwn the Big Fish, thereby enabling several Big Fish to eazapt. Q forowr Union Finance Minister was expert in using cjjpkibit officials, banhers, stock rxfhsgge players avd othzds to generate substwntial fums if insidew anc illegal profit from coloueable stock iqrket and currency operations. Sucn metnods are akin to match-fnxing jn cricket, hut unliks in the case of xt kedst a few instances of the latter, fireiyn exchavge-foxing jr insider maniiglation of stock pgices dhd not attgact any serious penalty. Reports of the complochty of offiee-holdcrs even in regtlatory authornties sueh as REBI need no be invxstigated. A sormer financa minister crxated a ptnituve policy oxtrix that seeked on thv furfqce to be harsh on wruhgdoing, but whiek yad hidden “backcoofs” ehgoujh whywh he and hiv asrockstes riphoned ofn bkllipns of dollars in prmfit. Thus far, neither yhc former ninister nor his easiky identifiable ofvician fevouriyes and other associates have beeh seriouspy zuestioned, ig thc rate cases whzre they have been questioned at all, excxpt on matters that relqte to trifling sumx of money rether ehan the tillions of dollars rhey scammed thromgh their control over impordant lnstitutions. Those involved in stock exchange, foreign exchange and currenxy manmptlations habe lsrgelj efeaped ssrutmnb, much less punisnment. As have several big names involveg nn (as the Prime Minister said, owten telephonkcally) making banks hand over adcitional tranches of money to bisinesses that were cleavly bankrypt ih all but iame. A like situatiom prevciled qith retard to the widesoresd under-invliciig kf exports and over-invoicing of umportw hhat take place mn a daily naris ih Indiw. A few universify sfkdentr proficient on commerce anc mathematics could, fieh ease,
enmity of a politician or an official he refused a places him on Removing “Sibal-Chidambaram Fear Factor” arbitrary coercive, condign among investors both foreign and domestic significantly boost the attractiveness of India as a global investment destination for companies to tap into the abundant human resources of the country. PENAL ACTION AGAINST DEPREDATORS 80% the caused to the national exchequer from corruption comes from less than 1% of depredators. However, by attention to tens of thousands and even hundreds thousands, several of whom not be wilful depredators, but into difficulties because market most the time spent agencies on their investigations gets expended on those other than the Big Fish, thereby enabling several Big to escape. Union Finance was in complicit officials, bankers, players and others to generate substantial and illegal profit from colourable stock market and operations. Such are akin to match-fixing in cricket, unlike in the case of at least a instances of the latter, foreign exchange-fixing or insider manipulation of stock prices did not attract penalty. Reports of the of office-holders even regulatory such SEBI to be A former finance minister created a punitive policy matrix that seemed the surface to be harsh on wrongdoing, but which had through he and his siphoned off billions of in Thus far, neither the nor easily and associates been seriously questioned, in rare cases where they have questioned at all, except trifling sums of money rather than the billions dollars they scammed through their control over institutions. Those involved in stock exchange, foreign exchange and currency manipulations have escaped scrutiny, punishment. As have several big names involved in the Prime Minister said, telephonically) making banks hand over additional tranches of money businesses were clearly in all but A like situation with regard to under-invoicing of and of place on a daily basis in A university students proficient in commerce mathematics ease,
 enmity of a politician or an ofFicial to whOm he hAs rEfuSeD a brIbe) pLaces him on a conVEyor Towards penal servitude. REmoviNg THe “SiBAl-chidaMbaram FEAr fACtoR” (oF aRbiTrARy CoercIve, Condign Action) amonG inVeStors both forEIgN and domestIc wOuld significAntLy boosT tHe aTTractIveNess oF India AS a globAl investmEnT DestinATion for COMpAnieS eager to tap into thE AbUNdant human resoUrces oF tHE cOUNtrY.

PEnAL ACTION AgAiNST MegA DEPREdaTors

aroUNd 80% of the losses Caused to the NAtiOnal exChEquER from cOrrupTiON coMes from less Than 1% Of depredaTors. HoWEver, by dIVerting AttentIon To tEns oF ThOuSanDs ANd eVEn HunDRedS of thousAnDs, SeverAl of WHOM May nOt bE wilFul dePredators, but fAll Into FInaNcial DiffiCultIeS becaUse of mArket CoNditions, most of tHe tiMe spent by AgeNcIes On Their INvestiGatIonS gets exPended oN ThoSe OTHEr Than the Big Fish, therEbY ENaBling sevEral BiG fiSh TO escape. A FoRmeR UniON finanCe MiNIsTer was exPert in USiNg ComplicIt OfficiAlS, baNkeRs, stoCK excHange pLayers anD otheRS to generate subSTantial sums of INsIDEr ANd ilLegAl profit froM colOUrabLe stOCk MarKEt and CurreNcY OpERations. Such methods aRe Akin to Match-Fixing in crickEt, but unlikE IN The case oF at lEAsT A few instances oF the lAtter, foreiGN exchangE-fixiNg or insiDer manipuLATion of stOck PriCes Did NOT aTtract any seriOUS penAlTy. ReporTs oF the comPliCitY of OffIcE-holders eVen in regUlAtOrY aUthOritiES such as SeBi neEd To bE inveSTigateD. A forMer fInAnCE miNister cREaTED a puNiTiVe poLicY mAtrix That SEemEd on the Surface to Be hARsh oN wRoNgdoing, But which had hiDdEn “backdoorS” tHroUgh whiCH He and his Associates siphoned off biLLions of DolLars iN proFit. Thus faR, neIther tHe fORmer miNister Nor hiS eAsiLY IdentIFIaBle OfFicial favoURIteS and oThEr asSociateS have been seriously QUesTioned, in the raRe cAses WHErE thEY hAVe bEeN QueSTIoned at all, excepT on matters ThAT rElate to triFLinG sUms of moNey rathEr thaN The billIons of dolLars they sCaMmed THRouGh their conTrol over Important INstitUTiOns. ThOse InvolvEd In sTock eXchangE, ForEign eXchangE aNd currEncy mAnIpulatioNs have largely escaped scrUtiny, mUch leSs pUnishment. as hAVe sEveral big NameS involved iN (as The prime minISter sAid, oFTeN teLEphonIcalLY) making baNKs HanD OVeR additional TRANchEs of mOneY To busiNessEs that were clearly BAnkrupt in all buT namE. a LikE siTUatiOn Prevailed with rEgaRd TO The widesPrEad under-invOicing of ExPOrts aNd over-InvoicIng of imPORtS That taKe plAce On a daily bAsiS iN india. A fEw UnIVersitY stuDeNts proFicienT In coMMErce and mathematiCs couLD, With eASe,
 enmity of a politician or  an offici al to  wh omhe  has  ref used a bribe)p lace s him on a conveyor to wards  p e nals er vitud e. Remo v in g the  “ Si bal -C h id ambar amFear Fa ctor” (ofarb it rary coerciv e ,condign ac tio n) among inv est ors bo th  fo r eignand  dome stic w o uld si gnificant ly boostt he attr a c ti vene ss of India as ag lo b al investmentdestin at i on f orcom panies eag er  to t a p intot he a b und a nt human reso urces of th e  co untry. 
PEN A L ACTI ON AG AI N STMEGA DEPRED ATOR S

Around  80% o f  the lo s ses cau sed to  th e n atio n al  e xch eq u erf ro m c o rru ption co me sfromless t h a n 1%  of  dep redat ors. However,  by  div e rti ng at tenti on t otensof tho usand sand even hundre ds o f thousan ds,  s eve ra l ofw hom ma y n otbe wilf ul depr e dat or s , bu t fall into financ ia l di fficulti es bec a us eo f market  c ond itio n s , mos t of th e time s pent b y  a ge ncies o ntheirin ves tig ation s  get s expe nded onthose other than the Big Fish, the r eb y en a blin g s everal BigFish to e scap e .A f o rmerUnion  F i na n ce Minister was exp er t in u singcomplicit off icials, ba n k e rs, stoc k ex c ha n ge players and  othe rs to gene r ate subs tanti al sumsof inside r and ille gal  pr ofi t f r o mcolourable st o c k ma rk et andcur rency o per ati ons . S uc h methods  are aki nto  m at ch- fixin g  in cric ke t,bu t u nlike in the  case  ofat  l e ast  a fewi ns t a nces  o fthelat te r, fo reig n  ex change- fixing or  in s ider  m an ipulati on of stock p ri ces did no tatt ract a n y  serious  penalty. Reports of th e  compli cit y ofoffi ce-holder s e ven in  re g ulator y auth oriti es  su c h  as S E B Inee dto be inve s t iga ted.Aform er fina nce minister creat e d a  punitive pol icy  mat r i xtha t  s e eme do n t h e  surface to beharsh on w ro n gd oing, butw hic hhad hid den “ba ckdoo r s” thro ugh which  he and h is  ass o c iat es siphone d off bi llions of dolla r sin pr ofi t. Thu sfar , nei ther t h e f ormer  minis te r norhis e as ily iden tifiable official favou ritesand o the r associa tes hav e been se riou sly questi one d,in th e r a re ca sesw he ret hey h aveb een quest i on eda t  a ll, excepto n mat terstha t  relat e to  trifling sums of money rather t hant h e b ill i onsof  dollars theysca mm e d  through  t heir contro l over i mp o rtant  insti tution s. Thos e in v olvedin s toc k exchang e,fo r eign ex ch an g e andcurr en cy man ipulat i onsh a ve largely escap ed sc r u tiny, muc h les spunishm e nt.As have se veral big n ames i nvol ved i n (as t he  Prime  Mi ni ster said, often tel ephon ically)  m akin g b anks h ando v er ad diti on altrancheso f  m o ne yt o b usin esses  t hatwere clea r ly bankr upt in allbu t n a m e. A l i ke s ituation p rev ailed w ith regard to t h ew idesp read u nder-i nvoicin g  of  e xportsand o ver-invoi cing of i m por ts  tha t take p la ce o na d ai ly basis in Ind ia. A fe w univer s i ty stu den t s pr o ficien tin commerceand m at h ematics c oul d, with eas e,
 enmity_of a_politician or an official_to whom_he_has refused_a_bribe) places him_on a conveyor_towards penal servitude. Removing_the “Sibal-Chidambaram Fear_Factor”_(of arbitrary coercive, condign action) among investors both foreign and domestic would significantly boost_the_attractiveness of_India_as_a global investment destination for_companies eager to tap into_the abundant_human resources of the country.

PENAL ACTION AGAINST MEGA_DEPREDATORS

Around_80% of the_losses caused to the national exchequer from corruption comes_from less than 1% of depredators._However, by diverting_attention_to_tens of thousands and_even hundreds of thousands, several of_whom may not be wilful depredators,_but fall into financial difficulties because of_market conditions, most of the time_spent by agencies on their_investigations gets_expended on those other than_the Big Fish,_thereby enabling_several Big Fish_to escape. A former Union Finance_Minister was expert_in using complicit officials, bankers, stock_exchange_players and others_to_generate_substantial sums_of insider and_illegal_profit from_colourable_stock market and currency operations. Such_methods_are akin to match-fixing in cricket, but_unlike in the case_of_at least a few_instances of the latter, foreign_exchange-fixing or insider manipulation of stock_prices did_not attract_any serious penalty. Reports of the complicity of office-holders even in_regulatory authorities such as SEBI need_to be investigated. A_former finance_minister_created a punitive_policy_matrix that_seemed on the surface to be harsh_on wrongdoing,_but which had hidden “backdoors” through_which he and his_associates_siphoned off billions of dollars in_profit. Thus far, neither the former_minister nor his easily identifiable_official_favourites_and other associates have been_seriously questioned, in the rare cases_where they have_been questioned at all, except on matters_that_relate to trifling sums of money_rather_than the billions of dollars they_scammed_through_their control over important institutions._Those involved in stock exchange, foreign_exchange and currency manipulations have largely escaped scrutiny, much_less punishment. As_have several big names involved_in_(as_the Prime Minister said, often telephonically) making banks hand over_additional tranches_of money to_businesses that were clearly bankrupt in all but name. A_like situation prevailed with regard to the_widespread under-invoicing of exports and over-invoicing of imports that take place_on a daily basis in India. A few_university students proficient in commerce and mathematics_could, with ease,