wholesale fraud and loot.
By putting bogus expenses and inflating costs, companies like Reliance are virtually looting the public exchequer. The public which has reposed faith by giving them the distribution rights is being cheated. This is nothing short of a sin which is not pardonable. If it was the US or any developed Country such a company, in fact the group would have been shut down for good. It's not merely the audit but the consequences of detection of fraud in audit which should be strengthened and made hugely punishable. Govt should go after such companies like a blood hound which will send a message to all such private enterprises which indulge in wholesale loot of the exchequer. So its not audit but aftermath of audit which is important. more
If the government start hounding these companies next day entire media will cry foul and all the so called economists will start accusing these type of action will only discourage private investments and deter growth. more
This is such a shame. These companies are charging consumers such high rates on totally false grounds. But it's completely true this is a nexus between the private electricity companies and corrupt politicians and government officials. It is very important to raise our voice against all forms of corruption, although one feels so frustrated since the results are negligible. more
Acche din for Corporates and rhetoric /symolism for common citizens more
It is not only companies like Reliance, but nexus between business houses, bureaucrats and politicians is responsible for allowing such a loot not only in power distribution but in generation & power purchase etc.. more
Only solution is Public Revolt, which will never happen in India. There is no sense of public good, at any level. more