That the Brahma Kumaris benefit from fraudulent tax and financial activities is a matter of fact. Finding and following the money trail up slippery poles, across greased palms and behind closed doors is more rare.
This is ... possibly ... the clearest and biggest of such controversy yet and makes a mockery of the BKs' claim to "purity" unless, of course, there is such a thing as "pure fraud". If anyone has any further information, especially about the ownership of the Om Shanti Studios, Peace of Mind TV properties etc, please post it.
BK Jagmohan Garg, Brahma Kumaris follower and one of their "business experts", is named as owner of the Brahma Kumaris Om Shanti Studio and founder of the BKs' 'Peace of Mind channel'. He has been implicated in massive NSEL fraud called the "NSEL crisis" which was splashed all over media internationally last year.
The NSEL was the "National Spot Exchange" of India and the scam worth an estimated Rs. 5600 crore or nearly US$1 billion. It came to light after the NSEL failed to pay its investors. It was discovered that most of the underlying commodities did not exist, and the buying and the selling of commodities like steel, paddy, sugar, ferrochrome was being conducted only on paper. In short, a sort of Ponzi scheme
A special anti-money laundering court in Dehli froze Rs 126 crore (approx USD $19,782,000) assets of Garg's 'Mohan India Group' and held that BK Jagmohan Garg of Mohan India deceived investors into putting money in NSEL sugar showing bogus warehouses and warehouse receipts.
Mohan India is said to be one of the large defaulters in the scam, with an initial liability of Rs 950 crore (approx USD $152,000,000). Bribes were paid to to income tax and other government officials to evade taxes and the money allegedly came from the defaulting Delhi-based company.
The mess, affecting over 60,000 small investors, is ongoing.
What becomes more interesting is ... do you remember that shopping mall that the BK Dadis were involved in opening?
One of Mohan India's ventures is Mera Baba Reality projects, builders of shopping malls ... "Mera Baba", usually written 'Meera Baba', is a blatant BKism meaning "my sweet Baba", as in their godspirit.
Yes, yes, yes ... remember Baba whilst you do it and no karma comes back to you! That's what they say.
This is ... possibly ... the clearest and biggest of such controversy yet and makes a mockery of the BKs' claim to "purity" unless, of course, there is such a thing as "pure fraud". If anyone has any further information, especially about the ownership of the Om Shanti Studios, Peace of Mind TV properties etc, please post it.
BK Jagmohan Garg, Brahma Kumaris follower and one of their "business experts", is named as owner of the Brahma Kumaris Om Shanti Studio and founder of the BKs' 'Peace of Mind channel'. He has been implicated in massive NSEL fraud called the "NSEL crisis" which was splashed all over media internationally last year.
The NSEL was the "National Spot Exchange" of India and the scam worth an estimated Rs. 5600 crore or nearly US$1 billion. It came to light after the NSEL failed to pay its investors. It was discovered that most of the underlying commodities did not exist, and the buying and the selling of commodities like steel, paddy, sugar, ferrochrome was being conducted only on paper. In short, a sort of Ponzi scheme
A special anti-money laundering court in Dehli froze Rs 126 crore (approx USD $19,782,000) assets of Garg's 'Mohan India Group' and held that BK Jagmohan Garg of Mohan India deceived investors into putting money in NSEL sugar showing bogus warehouses and warehouse receipts.
Mohan India is said to be one of the large defaulters in the scam, with an initial liability of Rs 950 crore (approx USD $152,000,000). Bribes were paid to to income tax and other government officials to evade taxes and the money allegedly came from the defaulting Delhi-based company.
The mess, affecting over 60,000 small investors, is ongoing.
What becomes more interesting is ... do you remember that shopping mall that the BK Dadis were involved in opening?
One of Mohan India's ventures is Mera Baba Reality projects, builders of shopping malls ... "Mera Baba", usually written 'Meera Baba', is a blatant BKism meaning "my sweet Baba", as in their godspirit.
HOW MOHAN India DIVERTED FUNDS FROM NSEL INVESTORS?
- BK Jagmohan Garg
- mohan-india.jpg (5.75 KiB) Viewed 14215 times
Delhi based Mohan India and its Sister concern Tavishi Enterprises led by Jagmohan Garg & J.S Srivastava as company directors. The group companies are promoted by an influential business family from north-west Delhi.
The group was one of the Defaulters in NSEL Exchange. As per media reports, the company had bought 2,16,324 tonnes of sugar for Rs 605.2 crore in the year between 2011-12. The total earned profit was approximately Rs.2,044 crore.
During the recent NSEL crisis, Mohan India Group was one of the major defaulter of NSEL crisis, Close to Rs. 600 crore, out of Rs. 852 crore that they got, were paid to several unrelated bodies and close Rs. 200 crore to related entities.
More appallingly, Jagmohan Garg, had diverted investors monies to several ventures such as the five star hotel – Radisson, real estate properties viz. Mera Baba Reality projects in Pitampura and Rohini, and a lot more.
Jagmohan Garg swindled these funds from these known related entities to unrelated entities.As per Media reports It is also said that the money was siphoned off after having been laundered. What emanated out of it was that all the money was directed to the political leaders, those who backed them.
In October, 2013, Mohan India agreed to pay Rs.771 crore as final settlement, out of its combined obligation and the deal safeguarded by asset mortgages and penal clauses for the delayed payment obligations.
At present Mohan India is one of the largest defaulters of NSEL and Mr. Jagmohan Garg and Jai Shankar Srivastava have yet to honour their obligation.
These habitual defaulters are using their clout to safeguard their ill-gotten assets from money laundered through the Exchange. But the law is catching up fast with such financial criminals and justice should be delivered soon.
Yes, yes, yes ... remember Baba whilst you do it and no karma comes back to you! That's what they say.