Senior BJP Leader and Punjab BJP Investor Cell Chief, Advocate Sukhminderpal Singh Grewal today unfolded a major racket by Private Polytechnic Colleges in Punjab in association with officials of Punjab StateTechnical Education and Industrial Training Board and All India Council of Technical Education (AICTE).
Punjab contributes maximum production of Wheat and Paddy across India despite acute power and labour shortage across state and adverse climatic conditions. Despite being the highest producer of Wheat and Paddy per hectare, the profits of the hard working Punjab farmer are getting diminutive. Reason, increased input costs, farmer today is bearing an additional daily brunt of Diesel to pump water from its Tubewells which is equivalent to Monthly Power subsidy given by the Punjab Government.
Satyam Scandal
Ludhiana, 11th January, 2009: Senior BJP Leader and BJP Punjab State Investor Cell Chief Advocate Sukhminderpal Singh Grewal stated that 70% of the companies fudge books to sell their growth story to fool Retail Investors and what happened to Satyam was just about to happen.
Grewal stated that under the dynamic leadership of Sh. Rajnath Singh, BJP foresighted Congress Government misadventure and constituted Investor Cell to educate Retail Investor about such manipulators.Speaking at a Press Conference convened after Meeting of office bearers of BJP Investor Cell at Ludhiana, Grewal stated that Satyam disgrace is a reflection of window dressing of the Financial Reports by the Board of Directors, hand in glove with Auditors, Company Secretaries, Financial Institutions and Independent Directors. He demanded that Government should immediately take corrective action and should bring all such “ASATYAM’S” to book, so that interests of Retail Investors be protected and India isnt taken another Bannana Republic.
He admitted that Satyam Scandal will be a big blow to “India Inc” and it will be a daunting task to rebuild faith of global Investors in Indian economy. Grewal added that Investor Cell have been raising advocacy over such manipulations since its inception but Congress led UPA Government were high on their Reformist and Economist Prime Minister and depended more on their Magician and Former Finance Minister P.Chidambaram and Planning Commission Deputy Chairman Montek Singh Ahliwalia. He aggrieved that intellect and competence of these leaders couldn’t help Congress led UPA Government bring sufficient regulations to protect Retail Investor instead Satyam conferred Golden Peacock Award for Corporate Governance in 2008 under the nose of UPA Government. He demanded that Government should bring afresh regulations so that faith persists in Indian Economy and added that Government should immediately fix respobsibility of those responsible and called for immediate dismissal of C.B Bhave, SEBI Chairman. Other office bearers of Punjab State Investor Cell present in the Press Conference were Ashok Garg (Mohali), Nipun Sharma, Shakha Bagga (Hoshiarpur), Sandeep Tony (Jaitu), Manish Goyal, Rajesh Pathak Bittu (Dhandari), Ramandeep Singh, Seeta Gogna (Ahmedgarh), Navdeep Singh (Mullanpur), Pradeep Jain (Jodhan), Deepak Sharma (Malseehan), Vijaymal Doraha, Jaspal Lotey Khanna, Gagan Singla, Ashok Malhotra (Jalandhar), Jeet Singh (Khaira Bet), Lucky Sabarwal, Somnath Sood, Rajan Bansal, Ramesh Handa were also present.
