Dear SEBI, TRAI & PF COMMISSIONER
We all want ‘acchey din’ for every Indian as committed by our dynamic Prime Minister Sri Narendra Modi.
Last year acting on your complaint, the ever helpful honorable #Supreme Court of India ordered the arrest of Subrata Roy, founder and Chairman of Sahara Group for not depositing amounts collected from small investors with you. This heralded a vigilant SEBI trying to protect the interest of “small investors” a welcome gesture, seldom heard; nevertheless a new beginning.
And, while it is gratifying to learn that SEBI cares for the ‘small’ in India. I would like to cite an example of another listed company in the name and style of “TULIP TELECOM LIMITED” run by an unethical and shameless Lt Col H S Bedi, about whom, I understand, has not paid the dues, including statutory, to its employees and has also been jailed for evasion of service tax.
While SEBI willfully nurses the wounds of ‘small investors’ what about wounds of hapless ‘employees’ of such listed companies; and where is TRAI? (Telecom Regulatory Authority of India) that is required to brazenly monitor such rogue companies and their unethical board of directors. In fact Indian Inc. has a cherished reputation and it is only because of companies like Tulip Telecom and MDs like Lt Col H S Bedi, the revered Corporate Behemoth appears sullied at times; and sadly so.
There is a possibility, that both SEBI and TRAI are unaware of this company and its rueful deeds; and just to substantiate the magnitude of the issue I am scripting the story I have received from one of the employees with his name veiled with a request to both SEBI, TRAI and the PF Commissioner to provide relief to the concerned employee.
SEBI must be doing an intense due-diligence before allowing companies to raise public funds, as it is a matter of serious concern if some companies do not even pay statutory PF dues and other full and final sundry amounts to their hapless employees and ask them to just leave, high and dry. And if not, SEBI must build a mechanism to circumvent such frauds committed by such rogue companies by attaching the movable and immovable assets of such companies including their directors, as mere jail term wouldn’t be sufficient. On the other hand TRAI should revoke licenses of such companies and utilise their deposits if any with them to pay off genuine employee dues. A proper trail of funds should be launched and such failing directors should be debarred from registering any other company in future; basis their unscrupulous and criminal intent. The Provident fund commissioner, if asleep in this matter, is requested to wake up and help employees.
CII (Confederation of Indian Industry) and ASSOCHAM (Associated Chambers of Commerce and Industry of India) should debar such companies and their Board of Directors from their membership. For make no mistake if Surata Roy can languish in the jail why can’t Lt Col H S Bedi, and if Sahara’s properties can be attached why not Tulip Telecom’s property?
#MNCs wanting to collaborate with Indian companies should desist from taking on board such companies and directors with dubious distinctions; and even iconic personalities such as film-personalities and cricketers should not endorse products off such companies where directors have the propensity and nudge for hapless employee dues.
I am giving below a gist of the sad story of the employee in the form of his 27th reminder addressed to the Management team of Tulip, which they again chose not to reply. The team comprises Sukhmani Bedi DS Bedi and Col Bedi. The excerpts of his e-mail are as below (Complete correspondence is available)
Subject: Request for release of Full and Final and other statutory payments on humanitarian grounds.
Dear Ms Sukhmani, Mr Deepender & Col Bedi
Warm – New Year Greetings,
- Last year, I had tried many possible methods to connect with all of you on a daily basis, be it may, via phone calls, text msgs, wts-app and even emails. But for some strange reasons, none of you, neither took my calls nor returned my calls, nor did you reply to my messages, nor my emails. In fact I have been writing mails profusely regarding clearance of my dues for last 10 months but till date I haven’t got a firm reply from you.
- The employee further underscored about his urgent financial need in terms of his brother undergoing treatment in one of the hospitals but then also the unethical-trio never responded.
- Sukhmani once called on 13th Aug 2013 and basis discussions committed to call back with updates with respect to the long pending full and final payment of Rs 4.16; but after that, days have gone by and the employee is yet to hear from her and as a matter of fact he has tried to connect through phone, sms and even wtsapp- but all in vain.
- As a last resort the employee once again begs as he has nowhere to go and mentions. “I am forced to write to you again as I have been traumatized and “cornered due to “Zero Communication methodology” adopted by “Tulip Management” with regard to release of my FNF (full and final) amount and other statutory payments and compliance’s like PF payment and Form 16.” And there are many trailing mails to establish the concerns. Employee further writes.
- I have tried my level best to connect with Mr. Ashu and both of you via all modes of communication for last 5 months but all in vain again and this pains me deep. (Please refer trailing mails) I have very categorically and emphatically mentioned my personal and financial problems but it seems my miseries have no effect on Tulip’s management.
- However, basis several discussions with Ashu & Sukhmani regarding subject matter, I am constantly writing for clearance of my dues. The last communication on the subject was from Ashu on 29th April 2013 stating me to “call him to work out a payment plan” (trail mails). Post, that I have made innumerable calls and written constantly but I am yet to receive a firm positive revert from you. I must add with a heavy heart that I am a shattered man and I feel betrayed by the Management.
- And ss you are aware, I had served the company to the best of my ability and was instrumental in establishing video business. I stuck with the company in worst of time and was the last person in video team to quit as my struggle to maintain myself and family reached a boiling point and sustainability and survival became the “core issue.”
- Sukhmani , although you are quite aware of current financial and family circumstances yet allow me to throw some light and refresh you. My financial & family life is currently quite deplorable as I am the sole bread winner of my family with a widowed mother and a sick brother diagnosed of a cerebral medical condition in December 2012 and currently under treatment.
- I request you with folded hands to consider my case on humanitarian grounds and release my funds as below
- Full and Final payment of rupees 4.16 lacs
2. Provident fund Statutory per Law of GOI
3. Form-16: Statutory compliance to be adhered by organization as per GOI.
The employee once again requests the Management of Tulip Telecom to settle his dues.