It was curious case of Mahesh Shah who disclosed undeclared wealth of
Rs.13,680 Cr and then vanished.
I was puzzled by the Curious Case of Mahesh Shah and wanted to figure
out the entire scam.
In the absence any document – I decided to look for Clues in The
Income Declaration Scheme 2016 itself.
Grand Mischief a Chartered Accountant could figure out Instantly is that-
The Scheme is to ‘Settle Accounts’ for ‘Not Declared Income Correctly
in Earlier Years’ – Makes it Money Laundering Prog.
Instead of Undeclared Wealth On May31, 2016 – Declaring Income Over
say last 20 Years Has – $100b to $5 Trillion Gap.
Rs.65,000 Cr Under IDS – Could Be Rs.6,50,000 Cr or $100b
A Politician or Businessman With Insider Information – Like Say GIFT
Project and Buys Barren Land Near it for Rs.5Lakh/Acre – Is Worth Say
Rs.500 Lakh/Acre – Could Manipulate >>
Rs.400 Land Deal – Pay Rs.5 Today – Rs.395 in Upto 12 Yrs.
JUDGMENT Norman Macleod, C.J. https://indiankanoon.org/doc/140704/
1. The plaintiff sold the suit property to the defendant on the 16th
March 1906, continuing to remain in possession as tenant. On the 13th
August 1906, the defendant executed in his favour a satekhat to sell
the property to him at any time within twelve years for Rs.395, Rs.5
being paid as earnest money. The plaintiff filed a suit in 1911
claiming to redeem the property on the ground that the document of the
16th March was a mortgage, seeking the protection afforded by Section
10A of the Dekkhan Agriculturists’ Relief Act. That suit was
dismissed. Before twelve years had expired the plaintiff sued again to
recover the property on payment of Rs.395.
>> Such Loopholes Could Be Handy in Money Laundering
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9871056471,
9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power,
Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing,
Technologies and Projects