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Advantages And Disadvantages Of Abhishek

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Essar Leaks: Had Amar Singh Influenced The JPC Probe To Favour Reliance Group? -Abhishek Parashar Many skeletons are tumbling out of the closet after the leaked Essar tapes have come out in the media. The tapes carry alleged phone conversations between top political and corporate power brokers of India. These explosive tapes also include a purported phone conversation between Amar Singh and the former Samta Party MP Kunwar Akhilesh Singh. The discussion, allegedly recorded on November 28, 2002, show how Amar Singh had influenced the Joint Parliamentary Committee (JPC) probe into the share market scam to favour the Reliance group. To put it in clear words, Amar Singh was successful in managing the functioning of JPC to shield Reliance company in the scam related to manipulation of Indian stock market in late 1999-2001. Ketan Parekh, the former stock broker from Mumbai, was believed to be the mastermind of this fraud. The JPC constituted on April 26, 2001, had fixed the blame on the nexus between Ketan Parekh, banks and some corporate houses in its report. The report detailed the discrepancies in the trading pattern of 15 companies while alleging their promoters were in cahoots with Ketan Parekh. The companies under the scanner included Adani Exports Limited, Zee Telefilms Limited, Lupin Pharmaceuticals and Ranbaxy Laboratories Limited. The Reliance Shares & Stock Brokers Limited (RSSBL) was given a clean chit by the JPC. The company was the leading financier in the

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