Thread:
This is the story of Sopan Narsinga Gaikwad
1968: Sopan, aged 55 years, hailing from rural Maharashtra, purchased a plot of land through a registered sale deed. Soon he came to know that it was already mortgaged to a bank in lieu of a loan taken by the original owner.
1969: The bank issues a notice to him on default of loan by original owner. Sopan approaches the courts to enforce his rights.

1982 (14 years after purchase): A trial court issues a decree in his favour. Original owner moves court. Sopan is now 69 years old.
1987 (19 years after purchase): High court reverses the decree that favored him. Sopan is 74 years old.

1988 (20 years after purchase): Sopan moves High court against the HC order. Sopan is 75 years old.
2015 (47 Years after purchase and 27 years after appeal): Bombay High Court dismisses the appeal. Sopan appeals to a larger bench. Sopan is 102 years old.
2019(51 years after purchase): Bombay HC dismisses the second appeal too for delayed filing and default for non appearance. Sopan never knew his lawyers did not appear in court. Sopan hails from Rural Maharashtra and is 106 years old now.
2021(53 years after purchase): Sopan appeals in the Supreme Court against the HC order. Sopan is 108 years old.
12 July 2021( 53 years after purchase): SC agrees to hear Sopan's appeal. Sopan is 108 years old.

12 July 2021: The lawyer of Sopan informs the court that his client has died. The information from Rural Maharashtra took time to reach the advocate. Sopan died aged 108 years.
Sopan bought land when he was 55. He died 53 years after he bought the land at age 108. He still doesn't have ownership of his land and the court is still deciding his ownership.

This is the story of Sopan Narsinga Gaikwad.

Or is it the story of Indian Judicial system?

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More from @maheshperi

21 Jul
Thread:
With the Pegasus snoopgate exposing the underbelly of those who want to grab our well earned freedom to empower themselves, it is important to see how we fared in protecting our freedoms. This is how we fared in various global freedom indices:
1. Slipped from 94 to 111 on the Human Freedom Index (we were at 75 under UPA),
2. Slipped from from 79 to 121 in the Global Economic Freedom Index and categorised as 'Mostly Unfree'.
3. Slipped from 129 to 131 in UNDP's Human Development Report.
4. Slipped from 133 to 142 in the Press Freedom Index
5. Slipped from 27th rank to 53rd rank in the Democracy index compiled by Economist Intelligence Unit.
Read 4 tweets
20 Jul
1. This statement is rich coming from a guy whose promoter survives largely on foreign capital. Here is a takedown of Essel Group, of which Subhash Chandra, a Rajya Sabha MP is a promoter and who is the owner of Zee News too:
2. In Zee Entertainment Limited, the FII/FPI holdings are 64.15% of the total equity. 568 Foreign Investors hold 2/3 ownership of the company. On the other hand, only 18 domestic mutual funds have invested and own 3.67% of equity.
3. Zee Ent. has only 3.99% equity held by the promoters. In 2018, it was 41.67%. The promoter divested much of his stake to foreign entities.
Read 9 tweets
19 Jul
10 FAQs on Pegasus in the Indian context:

1 Q. How did this expose' come about?
A. Forbidden Stories, an online website and Amnesty International had access to a leak of phone numbers of NSO clients selected for surveillance. NSO makes the Pegasus software.
2 Q. Was Pegasus investigation Targeted against India?
A. No. The investigation was done by 17 media agencies and panned across 45 countries.
3 Q. Can any one buy Pegasus software?
A. No. Only sovereign governments can buy the software. Private parties cannot buy the software.
Read 11 tweets
9 Jul
Election Commission and Fairness:

Year: June 2016
Election: Rajya Sabha seat
Electorate: 90 MLAs.
State: Haryana
Vacancies: 2 seats.
Contestants: Birender Singh (BS), a BJP candidate
Subhash Chandra - Independent; BJP support.
RK Anand - Independent; Cong+INLD support.
Round 1: The Haryana Assembly has 90 members. BS got 40 votes, Anand got 21 votes and Chandra got 15 votes. 14 votes were rejected.
Round 2: With 14 votes rejected, BS needed only 26 to win. So, BS transferred the remaining 14 votes to Chandra as he was the second option marked by BJP MLAs. Chandra thus ended up with 29 votes. The third candidate, RK Anand, stayed put at 21 votes.
Read 9 tweets
4 Jul
Any governments first responsibility is towards the larger populace and an primary weapon has been an equitable and fair tax policy. However, the Modi government has all but given this up. Here is a snap shot.
1. DIrect taxes are income tax, corporate tax and wealth tax. By having tax slabs based on income, they are seen as equitable.
2. Indirect taxes are GST, Excise & Customs. They do not discriminate. Of course, the tax slabs try to levy more on non essential goods.
3. India's direct taxes in 2019 was 11.36 lac crores or 55% of total tax receipts.
4. However in 2019, India brought down its peak corporate tax rate from 30% to 22%. This largely benefitted corporates who were profitable.
Read 9 tweets
30 Jun
The case of Ruchi Soya gets curioser. Baba Ramdev acquired Ruchi Soya with just 1100 Crores of own funds after banks wrote-off Rs. 5300 crores and further loaned Rs.3250 crores against a pledge of the same shares to complete the acquisition.
Having cost the banks, the next likely victims can be small investors. Ruchi Soya has filed a DRHP for an FPO to dilute its holdings. The pricing of the FPO is to be discovered by the market.
Here is where the trouble begins. To curb price volatality and manipulation, Sebi mandates that companies emerging from insolvency proceedings (CIRP) must have at least a 5% upfront public shareholding.
Read 8 tweets

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