When Nitin Gadkari gets an invitation from Niranjan Hiranandani!

May 21, 2013 | Last update 6 hours ago

BUY NOW!

Hello Guest
Login
|
Help
|
Feedback

We are listening!

Name:*

Email: *

Feedback About:*

Concerned:*

Page Url:

Message:*

Security Code:*

Change code

Moneylife » Economy & Nation » Politics » When Nitin Gadkari gets an invitation from Niranjan Hiranandani!

When Nitin Gadkari gets an invitation from Niranjan Hiranandani!

- 0 Comments, Be the first to comment
+ COMMENT

Moneylife Digital Team | 26/10/2012 04:10 PM |
Follow @mldigital

Both Nitin Gadkari and Niranajan Hiranandani are facing severe allegations of wrong-doings. So, it is most ironic that the developer, as head of the Indian Merchants’ Chamber, has invited the beleaguered BJP president on his “Vision for India and Mumbai Development”. Unfortunately, at this point of time, people want to hear something else from Mr Gadkari

On 6th November (5.30 pm) the Indian Merchants’ Chamber (IMC) has invited Nitin Gadkari to speak at an interactive session on “Vision for India and Mumbai Development”. It is not clear whether Mr Gadkari, who has cancelled some of his public engagements will actually turn up for the event. After all, the media as well as the public is interested in Mr Gadkari’s views on an entirely different issue at this point in time.

He is under pressure from all quarters, including his own colleagues from the BJP, for the dubious manner in which his group has been funded as well as new revelations in The Economic Times about the maze of shell companies that have allegedly helped him launder large amounts of money into his Purti Group.

Is the timing of this session a way to allow Mr Gadkari to engage with the public and speak about his own past record in terms of Mumbai’s infrastructure development? If yes, then the timing is very ill-conceived. Yes, Mr Gadkari does have achievements to his credit, but he has squandered away that legacy with his deal with Ideal Road Builders (IRB)—the toll kings of India.

The bigger irony is that the invite to Mr Gadkari is from Niranjan Hiranandani, IMC’s president, who himself is facing an investigation by the Maharashtra Anti-corruption Bureau (ACB) the alleged Rs45,000 crore Powai land scam. Last month, the Bombay High Court lifted its earlier stay on the probe into the Powai real estate scam allowing the ACB to restart investigation into Hiranandani Developers, senior state bureaucrat Thomas Benjamin and other unknown persons.

Meanwhile the ministry of corporate affairs (MCA) and the Income-Tax (I-T) department are probing source of funding of various shell companies that invested in Mr Gadkari’s Purti group.

Read: Is Gadkari, IRB & Purti dealings just the tip of a “money-laundering” iceberg?

The irony of this meeting is probably lost on the IMC and its office bearers, because nothing exposes the happy nexus between politicians and businessmen that this attempts to lend each other countenance.

Free

FREE MAGAZINE

Dear Visitor,

Those who have read Moneylife once have been hooked by its unique combination of penetrating research, independent opinion, choice of topics and our consistent pro-consumer and pro-investor stance, which no other publication takes. For a sample of reader responses, see below. If you are new to the site, you have a chance to taste Moneylife free for three issues. We do a lucky draw once a few days to select the lucky winners. So try your hand and get hooked!

Debashis Basu
Editor & Publisher, Moneylife Magazine

Congratulations to Mahendra Dharod the lucky winner. You will receive a free Moneylife subscription for three issues.

Register for a Lucky Draw

First Name
Last Name
Address
Email
Security Code
	Not readable? Change text.
	Submit

Keep your Money Safe: Avoid money traps and MLM

Moneylife Store

The Scam

BUY NOW

What's your say?

Should the BCCI be brought under the ambit of RTI Act for bringing more transparency?

What you said

Are KYC norms applicable only for genuine customers?

Thanks for casting your votes! View Previous Polls

Join 22, 000 Others

Membership Benefits

Daily & Weekly newsletters
Access to www.moneylife.in to comment, create alerts
Your own profile in Moneylife.in
All special mailers
Basic membership to MSSN, our new initiative
Free ebooks
Invitation to events
Invitation to round-table meets
Access to Insurance helpline
Access to counselling sessions
Access to Reading room in Mumbai

Foundation Events

Got a question?
Name: *

Email: *

Phone: *

Catagory
	Note: We cannot offer investment advice about specific stocks
Message: *
	(Upto 1000 characters)
Enter Code:	change code

Comment*:

	Alert me when new comment is posted on this article
	Please read our Moderation Policy and Terms of Use before posting