After a long tug of war and war with toung, the belligerent comes to an end by announcing JPC. In the midst of nexus of scams and frauds like Common wealth games, Adarsh flat, CVC appointment, Foreign money squander and tax evations, SPECTRUM'S, Kerala Kala Vallabhan Radhakrishnan former CJI................. what else it prolongs. Literally UPA II surrendered in front of Opposition demands.
Now come to the point of our discussion. What is JPC, its proceedings, history.
Joint Parliamentary Committee is appointed to look, inquire into particular matter or subject or fraud, something which is important for nation.
How it can be formed ?
Joint Parliamentary Committee is formed when motion is adopted by one house and it is supported or agreed by the other house.
Another way to form a Joint Parliamentary committee is that two presiding chiefs of both houses can write to each other, communicate with each other and form the joint parliamentary committee.
How many members in JPC ?
Number of members in JPC can be decided by simple rule that Lok sabha members need to be double that of rajya sabha in JPC. Reason for this is that the Lok Sabha members are double compared to Rajya Sabha.
Example –
If Joint Parliamentary committee has 20 Lok Sabha Members then 10 members will be from Rajya Sabha and total member of JPC will be 30.
Then before going to the JPC;s in India, You Know............Many times earlier also JPC has been formed but its decisions have never been implemented seriously.
How it can be formed ?
Joint Parliamentary Committee is formed when motion is adopted by one house and it is supported or agreed by the other house.
Another way to form a Joint Parliamentary committee is that two presiding chiefs of both houses can write to each other, communicate with each other and form the joint parliamentary committee.
How many members in JPC ?
Number of members in JPC can be decided by simple rule that Lok sabha members need to be double that of rajya sabha in JPC. Reason for this is that the Lok Sabha members are double compared to Rajya Sabha.
Example –
If Joint Parliamentary committee has 20 Lok Sabha Members then 10 members will be from Rajya Sabha and total member of JPC will be 30.
Then before going to the JPC;s in India, You Know............Many times earlier also JPC has been formed but its decisions have never been implemented seriously.
On August 6, 1987 the first JPC was instituted to inquire into the Bofors contract
on a motion moved by then defence minister K C Pant in the Lok Sabha.
The JPC submitted its report on – 26 April 1988
India got nothing after JPC in this case.
In this JPC inquiry opposition parties boycotted this inquiry and report was tables but again opposition parities rejected the JPC committee report.
Indian tax payer’s money and time was wasted.
The 2nd JPC was formed to inquiry into Harshad Mehta scandal.
The recommendations of the JPC were neither accepted in full nor implemented by the government of India.
Again 2nd time Indian tax payer’s money was wasted and time was wasted.
3rd JPC was set up to inquire into Stock Market Scam - Ketan Parekh’s role in rigging the share market was exposed.
Chairman of this committee – BJP member Lt Gen Prakash Mani Tripathi
Report Submitted on – 19 December 2002
What happened after this JPC report?
Report was not implemented
Again tax payer’s time and money was wasted.
4th last JPC was formed to inquire into pesticide residues in soft drinks, fruit juice and other beverages and to set safety standards.
Committee Head was NCP chief Sharad Pawar
Submitted Report on 4th February 2004
Committee found soft drinks got, contain pesticides.
But again we Indians got nothing again waste of time and waste of money and again we demand JPC without demanding changes in JPC working and JPC powers.
Please remember the laws are made in such a way that today or tomorrow or day after tomorrow any JPC or PAC may be formed we Indians will get nothing.
The rules are made in such a way that criminals should enjoy them.
And honest people should fear them, without doing anything land up in jail.
To know more: http://www.business-standard.com/india/news/joint-parliamentary-committeeswhat-they-achieved/415198/
Bofors (1987)
A joint Parliamentary committee was set up into the allegation that someone in the Congress had accepted bribes to buy the Bofors ‘shoot and scoot’ guns. Rajiv Gandhi was the Prime Minister and the Opposition alleged the trail went to him. The Opposition campaign was strengthened when finance minister V P Singh joined forces with them and quit the Congress. Finally after regular disruption of Parliament, when the government finally did accept the Opposition demand for a JPC, the Opposition parties boycotted the committee on the grounds that it was packed by the Congress. The JPC report was laid in parliament but was rejected by the Opposition.
Securities and banking deals (1992)
This JPC was set up in 1992 after allegations were made that ‘big bull’ Harshad Mehta had diverted funds from public sector Maruti Udyog Limited (MUL) to his own accounts, and had been unable to square accounts, provoking a record 570-point fall in the Sensex. It was only in October 1997 that the Special Court set up to hear the securities scandal-related cases could approve prosecution on 34 charges brought by the Central Bureau of Investigation (CBI). CBI in all filed 72 sets of charges relating to criminal offences, while 600-odd civil cases proceeded alongside. Of these, so far convictions have been secured only in the case of four. In September 1999, Mehta received a four-year sentence for defrauding MUL. But the recommendations of the JPC were neither accepted in full nor implemented.
Share market scam (2001)
Ahmedabad-based cooperative bank, Madhavpura Mercantile Cooperative Bank (MMCB), faced a run on its deposits because of heavy exposure to the stock markets. MMCB had a big exposure to the stock market through Ketan Parekh. The bank, in collusion with Ketan Parekh, issued pay orders without the backing of sufficient funds. Ketan Parekh, in turn, used this money to rig up the prices of shares. This nexus went unnoticed for almost a year but was broken when MCCB failed to honour the pay orders that it had issued. A JPC was ordered, which recommended sweeping changes in stock market regulations. However, many were diluted later.
on a motion moved by then defence minister K C Pant in the Lok Sabha.
The JPC submitted its report on – 26 April 1988
India got nothing after JPC in this case.
In this JPC inquiry opposition parties boycotted this inquiry and report was tables but again opposition parities rejected the JPC committee report.
Indian tax payer’s money and time was wasted.
The 2nd JPC was formed to inquiry into Harshad Mehta scandal.
The recommendations of the JPC were neither accepted in full nor implemented by the government of India.
Again 2nd time Indian tax payer’s money was wasted and time was wasted.
3rd JPC was set up to inquire into Stock Market Scam - Ketan Parekh’s role in rigging the share market was exposed.
Chairman of this committee – BJP member Lt Gen Prakash Mani Tripathi
Report Submitted on – 19 December 2002
What happened after this JPC report?
Report was not implemented
Again tax payer’s time and money was wasted.
4th last JPC was formed to inquire into pesticide residues in soft drinks, fruit juice and other beverages and to set safety standards.
Committee Head was NCP chief Sharad Pawar
Submitted Report on 4th February 2004
Committee found soft drinks got, contain pesticides.
But again we Indians got nothing again waste of time and waste of money and again we demand JPC without demanding changes in JPC working and JPC powers.
Please remember the laws are made in such a way that today or tomorrow or day after tomorrow any JPC or PAC may be formed we Indians will get nothing.
The rules are made in such a way that criminals should enjoy them.
And honest people should fear them, without doing anything land up in jail.
To know more: http://www.business-standard.com/india/news/joint-parliamentary-committeeswhat-they-achieved/415198/
Bofors (1987)
A joint Parliamentary committee was set up into the allegation that someone in the Congress had accepted bribes to buy the Bofors ‘shoot and scoot’ guns. Rajiv Gandhi was the Prime Minister and the Opposition alleged the trail went to him. The Opposition campaign was strengthened when finance minister V P Singh joined forces with them and quit the Congress. Finally after regular disruption of Parliament, when the government finally did accept the Opposition demand for a JPC, the Opposition parties boycotted the committee on the grounds that it was packed by the Congress. The JPC report was laid in parliament but was rejected by the Opposition.
Securities and banking deals (1992)
This JPC was set up in 1992 after allegations were made that ‘big bull’ Harshad Mehta had diverted funds from public sector Maruti Udyog Limited (MUL) to his own accounts, and had been unable to square accounts, provoking a record 570-point fall in the Sensex. It was only in October 1997 that the Special Court set up to hear the securities scandal-related cases could approve prosecution on 34 charges brought by the Central Bureau of Investigation (CBI). CBI in all filed 72 sets of charges relating to criminal offences, while 600-odd civil cases proceeded alongside. Of these, so far convictions have been secured only in the case of four. In September 1999, Mehta received a four-year sentence for defrauding MUL. But the recommendations of the JPC were neither accepted in full nor implemented.
Share market scam (2001)
Ahmedabad-based cooperative bank, Madhavpura Mercantile Cooperative Bank (MMCB), faced a run on its deposits because of heavy exposure to the stock markets. MMCB had a big exposure to the stock market through Ketan Parekh. The bank, in collusion with Ketan Parekh, issued pay orders without the backing of sufficient funds. Ketan Parekh, in turn, used this money to rig up the prices of shares. This nexus went unnoticed for almost a year but was broken when MCCB failed to honour the pay orders that it had issued. A JPC was ordered, which recommended sweeping changes in stock market regulations. However, many were diluted later.
THANKYOU FOR KNOWLEDGE SHARING
ReplyDeleteBest Regards
Swapna(ex-GITPAC)