Ex-Modi confidante: Top Ahmedabad tycoon knew of demonetization in advance, transferred black to white

By A Representative
Widely considered in Gujarat as Prime Minister Narendra Modi's one-time confidante, Yatin Oza, a senior Gujarat High Court advocate, has claimed, on the basis of “evidence” he has gathered, that Modi had leaked his decision to demonetize Rs 500 and 1000 notes to a top industrialist of Ahmedabad.
Refusing to name this industrialist, Oza says, in the morning of November 9, someone “very near and dear” to him inform him that on November 8 at around 12 in the afternoon, ours before Modi announced demonetization, wife of one of the leading industrialists of Ahmedabad in her presence reached "a very leading jewellery shop and as per pre-order purchased gold worth Rs 20 crore.”
In a Facebook post, well-known anti-Modi former IPS officer Sanjiv Bhatt has shared Oza's letter to Modi, which says, “Gold was ready and packed and it took two minutes to transfer gold and cash to each other”, adding, the lady who saw all this was “present at the shop, buying pre-ordered jewellery worth Rs 5 lakh”, and happens to be a “doctor of a very high repute and eminence.”
Pointing out that as a member of the “kitchen cabinet" of Modi as Gujarat minister, he knows Modi pretty well, Oza insists, this shows, “information of demonetization must have been conveyed well before announcement to your near and dear industrialist who in total controls 50% of black money of this country.”
Oza dares Modi to inquire the purchase of gold and diamonds sold on November 7 and 8 before 8 pm, the timing of the announcement of demonetization, and by whom, adding, this alone would “enable people to think as to why few top notch needed purchase of huge amount of gold and diamonds.”
Also considered by many as BJP president Amit Shah's mentor, Oza blames Shah's men in Ahmedabad for carrying out large-scale operation for converting black money into white. He claims that he is possession of “a video recording” that would “clearly and beyond reasonable doubt prove that all the near and close associates ofShah since November 8 are engaged into exchange business.”
“There is a big queue outside their office and residence for conversion of black money into white at a discounted rate of 37%; people have queued up outside their office and residence”, says Oza, adding, “One has to go without identity with at least a sum of Rs 1 crore which will be counted by the employees and a bag containing Rs 63 lakh of valid denomination would be handed over.”
After being with BJP for long, Oza joined Congress and fought against Modi from the Maninagar assembly constituency of Ahmedabad in the December 2002 elections. After remaining inactive for some years, he rejoined the BJP, and, more recently, he declared he had joined Arvind Kejriwal's Aam Aadmi Party.
Oza underlines, “I could have easily parted with that video, but as I know you will punish those standing in queue rather than booking those persons engaged in the business who are near and dear to Shah.”
Commenting on the ban imposed on district cooperative banks from carrying out transactions of Rs 500 and 1000 rupee notes, Oza says, “One who knows you would refuse to accept that the ban that you imposed on district co-operative banks yesterday (November 14) was after you received an information that large scale irregularities and illegalities were committed at that level.”
“One thing is certain that such an important aspect could not have been out of your mind”, Oza says, “I for one knows very well that you will not act unless a complete blue print of your action is in your mind.”
Pointing out that in Gujarat “all district co-operative banks are controlled by people committed to BJP”, Oza says, “These banks right from 9 pm on November 8 till 5 am on November 9 exchanged Rs 500 and Rs1000 currency notes against smaller denomination.”

Comments

Unknown said…

All those people that have grudge against Modi for not pampering them and themselves being part of conspiracy have been spreading all sorts of rumors. All these people have gathered lot of black money and are involved in nefarious activities and attacking Modi to divert attention. We have enough proof against them.

November 18, 2016

From Kerala to Bangladesh: Lynching highlights deep social faultlines

By A Representative The recent incidents of mob lynching—one in Bangladesh involving a Hindu citizen and another in Kerala where a man was killed after being mistaken for a “Bangladeshi”—have sparked outrage and calls for accountability.

What Sister Nivedita understood about India that we have forgotten

By Harasankar Adhikari In the idea of a “Vikshit Bharat,” many real problems—hunger, poverty, ill health, unemployment, and joblessness—are increasingly overshadowed by the religious contest between Hindu and Muslim fundamentalisms. This contest is often sponsored and patronised by political parties across the spectrum, whether openly Hindutva-oriented, Islamist, partisan, or self-proclaimed secular.

When a city rebuilt forgets its builders: Migrant workers’ struggle for sanitation in Bhuj

Khasra Ground site By Aseem Mishra* Access to safe drinking water and sanitation is not a privilege—it is a fundamental human right. This principle has been unequivocally recognised by the United Nations and repeatedly affirmed by the Supreme Court of India as intrinsic to the right to life and dignity under Article 21 of the Constitution. Yet, for thousands of migrant workers living in Bhuj, this right remains elusive, exposing a troubling disconnect between constitutional guarantees, policy declarations, and lived reality.

Policy changes in rural employment scheme and the politics of nomenclature

By N.S. Venkataraman* The Government of India has introduced a revised rural employment programme by fine-tuning the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), which has been in operation for nearly two decades. The MGNREGA scheme guarantees 100 days of employment annually to rural households and has primarily benefited populations in rural areas. The revised programme has been named VB-G RAM–G (Viksit Bharat Guarantee for Rozgar and Ajeevika Mission – Gramin). The government has stated that the revised scheme incorporates several structural changes, including an increase in guaranteed employment from 100 to 125 days, modifications in the financing pattern, provisions to strengthen unemployment allowances, and penalties for delays in wage payments. Given the extent of these changes, the government has argued that a new name is required to distinguish the revised programme from the existing MGNREGA framework. As has been witnessed in recent years, the introdu...

Aravalli at the crossroads: Environment, democracy, and the crisis of justice

By Rajendra Singh* The functioning of the Ministry of Environment, Forests and Climate Change has undergone a troubling shift. Once mandated to safeguard forests and ecosystems, the Ministry now appears increasingly aligned with industrial interests. Its recent affidavit before the Supreme Court makes this drift unmistakably clear. An institution ostensibly created to protect the environment now seems to have strayed from that very purpose.

'Festive cheer fades': India’s housing market hits 17‑quarter slump, sales drop 16% in Q4 2025

By A Representative Housing sales across India’s nine major real estate markets fell to a 17‑quarter low in the October–December period of 2025, with overall absorption dropping 16% year‑on‑year to 98,019 units, according to NSE‑listed analytics firm PropEquity. This marks the weakest quarter since Q3 2021, despite the festive season that usually drives demand. On a sequential basis, sales slipped 2%, while new launches contracted by 4%.

'Structural sabotage': Concern over sector-limited job guarantee in new employment law

By A Representative The advocacy group Centre for Financial Accountability (CFA) has raised concerns over the passage of the Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission (VB–G RAM G), which was approved during the recently concluded session of Parliament amid protests by opposition members. The legislation is intended to replace the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

Safety, pay and job security drive Urban Company gig workers’ protest in Gurugram

By A Representative Gig and platform service workers associated with Urban Company have stepped up their protest against what they describe as exploitative and unsafe working conditions, submitting a detailed Memorandum of Demands at the company’s Udyog Vihar office in Gurugram. The action is being seen as part of a wider and growing wave of dissatisfaction among gig workers across India, many of whom have resorted to demonstrations, app log-outs and strikes in recent months to press for fair pay, job security and basic labour protections.

India’s universities lag global standards, pushing students overseas: NITI Aayog study

By Rajiv Shah A new Government of India study, Internationalisation of Higher Education in India: Prospects, Potential, and Policy Recommendations , prepared by NITI Aayog , regrets that India’s lag in this sector is the direct result of “several systemic challenges such as inadequate infrastructure to provide quality education and deliver world-class research, weak industry–academia collaboration, and outdated curricula.”

Search This Blog