On 23rd April 1992, when the Times of India first reported that Rs500 crore had been credited to the Big Bull’s (Harshad Mehta’s account) thanks to a missing SGL (Securities General Ledger) receipt, the man at the centre of it all was R Sitaraman, the manager. Over 23 years later, the Special Court set up for the expeditious trial of offences has finally delivered a verdict convicting R Sitaraman and a former chief manager of State Bank of India (SBI) and MS Srinivasan of State Bank of Saurashtra (SBS) in case 1 of 1996. Justice Roshan Dalvi, on her last day in office (30 October 2015) sentenced the two to four years rigorious imprisonment and a fine of Rs5 lakh each for criminal breach of trust and misappropriation of funds and under the Prevention of Corruption Act. The accused have also been asked to pay a compensation of Rs5 crore as compensation for embezzlement.
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wrt the readers' outburst in the form of comments on the over 2 decades delay, in the court delivering its verdict, what is more puzzling is the 'reaction', rather than the delay grieved about.
Why should one say so? For finding an answer,simply have in view:
Q
We, as a nation, have some fine qualities but a sense of the value of time is not one of them. Perhaps, there are historical reasons. Ancient India had evolved the concepts of eternity and infinity. So what do years wasted in a litigation matter against the backdrop of eternity. Believing in incarnation, what does it matter if you waste this life. You will have many more lives in which to make good.
Our cases drag on over a length of time which makes eternity intelligible
The law may or may not be an ass but is certainly a snail; cases proceed at a pace as unduly slow in a community of snails.
Justice has to be blind but I see no reason why it should also be lame; here it just hobbles along, barely able to walk.
UQ
(A narration from Palkhivala’s published speech (1987) - "The Judiciary and the Legal Profession", in the Book- We, the Nation THE LOST DECADES)
Key Note: It is commonly believed, rightly or wrongly, that the root cause lies in the fact -of -life- for -ages that 'human being', created as the only supposed-to-be rational of all, is still in the process of 'evolution'. Should , however, anyone not mind to go by the wisdom gathered in hindsight,the imponderable requiring an attempt to find an answer is-what is right word to appropriately signify just the reversed process ?!
Shame on us!
Why Judges are getting strength in giving correct judgements on last day pf their tenure is also worth examining.
Sucheta another success Congrats.
Can we have time defined justice like USA?
What laws we need to implement to make it happen is Sucheta your expertise advice GOI/Law Ministry.
Mahesh
Makes for an utterly disgustful read; essentially the extremely wanting / utter absence sense of 'time' and failure of conscious noting of its value, to the humanity at large!
Is it not an obvious instance of proverbial, - HEAD i win, TAIL you lose ?!
POINTS (in abundance) To Ponder:
WHAT IS AILING THE humanity AT LARGE today, more than ever before?
A very useful article,- not to miss any word, or line, or underlying message, to be so found if individual's own mind./brain/ intellect / conscience lends scope to so FIND / REALIZE impromptu – for “SELF MOTIVATION” culminating in "self-improvement" , to start with !
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And many, many more- particularly to anyone being a 'public servant', in its most comprehensive sense, - those in PSBs being no exception,to the rules and norms of profound 'ethical behavior'
but the delay is also criminal. our justice system requires a complete overhaul - in order that justice can be delivered on time to serve its purpose.
by now Srinivasan and Sitaraman may be nearing their life end.
Sucheta Dalal and Debashis Basu this was one of your early scoops.. which you kept building on every day and every year.
May the good Lord bless you both with Good Health and peace of mind.
How Court will recover the fine from these two culprits is a moot question.
My best wishes to Sucheta Dalal & Dedbashish Basu, for their perseverance, for all these years with judicial proceedings.