DNA Money ( 09 July ) carries following news :
Extract :
Directors of
over 10 lakh companies
currently registered in the country will have to upload
their videos in an e-filing to the government in a major
crackdown on "fly by night and dummy directors ".
Not just that,
companies too will be required to upload a video clip of
the office premises in a step that is aimed at checking creation of
shell companies.
This is a part of the government's new Know Your Customer
(KYC) norm, which will kick in for close to 35,000 directors
from Tuesday under the supervision of Ministry
of Corporate Affairs secretary, Injeti
Srinivas.
WHAT NEXT ?
* I suggest the Government incorporate
following clause in the draft “ Data Protection
Law “
proposed by B N SriKrishna Committee :
--------------------------------------------------------
Anytime requested by the Government ,
* Social Media companies ( such as Google /
FaceBook / Twitter/ LinkedIn etc )
* E Com companies
( such as Amazon / eBay / Flipkart / Jabong / Alibaba etc )
*
Mobile App companies ( such as Paytm / TEZ / WhatsApp / SHAREit etc )
- shall provide following information about
those 35,000 directors :
===========================================
Who ( name )
· Where and when, born / names of parents
· Where grew up / where living
currently
· Does he live in a rented place or in an owned flat
· What Schools / Colleges did he attended ( - and degrees acquired )
· What Companies did he work for and salaries he got
· How does he travel to work ( own vehicle or public transport )
· Where does he go for his holidays / what books does he read
· Who is he married to and who are his children ( - and how many )
· If divorced , how much alimony does he pay and to whom
· Where has he invested his money ( Banks – Funds – Equity etc )
· How much has he borrowed from whom and for how long
· What
is his credit ranking ( including spending
history / card wise – wallet wise )
· What are his eating ( food ) preferences and the restaurants he visits
· What does he do for entertainment ( Music / Movies / Videos )
· What clothes does he wear and how often does he buy
· Who are his friends and how often he phone / text them / meet them
· What ailments does he suffer from and what medicines does he take
· What minor offences ( traffic ) or crimes has he committed
· What elections has he contested ( won and lost )
· Who are his doctors / lawyers / brokers / agents etc
· What web sites does he visit / how often and for how long
· What does he search on the Net / What RSS feeds does he subscribe to
· What TV channels does he watch and listen to which Radio Stations
· Every photo of his ever taken ( selfie or otherwise )
· Every phone call that he ever made or received
· Every Email / Text message that he ever sent or received
· Every blog / comment that he ever posted on the Web
· Every face-to-face communication that he engaged in
[ Source : Privacy
does not live here ! ]
Of course , to many ,
this may seem draconian
But there would have been
no need for this , had a few businesses ( and bankers / politicians /
bureaucrats too ) not engaged in their corrupt ways
Between them , they built an evil empire of “ Shell
Companies “
But , by itself , what I have hinted above , will not
suffice to demolish this monster which has siphoned off ( as Black Money ),
trillions of rupees of tax payer’s monies over years
For a thorough / permanent solution, Government need to
simultaneously implement :
E -
Governance ? [ 03 April 2014
]
It is no more enough to be honest . One has to be also perceived
to be honest !
Sorry , honest Businessmen ,
Like Sati Sita , you too must undergo , a “ Trial by
Fire “
10 July 2018
www.hemenparekh.in
/ blogs
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