Modi's demonetization implementor Shantikanta Das is Chidambaram man, not fit as SEBI chairman: Swamy

Shantikanta Das

By A Representative
Hardline BJP leader Subramaniam Swamy has directed his guns against Union economic affairs secretary Shantikanta Das, who has been one of the chief implementors of Prime Minister Narendra Modi's November 8 demonetization move, calling him a "Chidambaram confidante", and asking Modi not to make Das new Securities and Exchange Board of India (SEBI) chairman.
Belonging to Tamil Nadu, Das, who is known to have defended Modi's noteban as no one else, retires from IAS in February this year. Das is Swamy's third major target in Modi's economic team, the first (click HERE) being former Reserve Bank of India director Raghuram Rajan, followed by chief economic adviser to the Union finance ministry Arvind Subramaniam (click HERE). Rajan resigned in September 2016.
In a letter dated January 7, 2017 to Modi, Swamy, Rajya Sabha MP, has accused Das of siding with the corrupt, saying, the latter "was widely perceived as acting to protect the interest of Chidambaram in his financial affairs", in cases such as "2-G scam, Aircel-Maxis scam, NSE fraud, manipulation of stock market etc."
Swamy cites a report in a well-known pro-BJP daily as saying that Das is “all set to become the next SEBI chief after the extended tenure of UK Sinha, who has been at the helm of the watchdog since February 2011, ends on March 1 this year.”
According to the report, three senior bureaucrats, including Das, have been selected for the top SEBI post, including Unio power secretary PK Pujari, a Gujarat cadre IAS bureaucrat, and additional secretary in the finance ministry Ajay Tyagi were also included in the list.
Swamy traces “close” relations between Chidambaram and Das to the latter's former postings in Tamil Nadu, where, according to the BJP leader, Das came under “very adverse attention for several corruption matters from land allotment to foreign collaboration agreement.”
Swamy says, Das "helped Chidambaram by delaying unduly investigations that were being done" under the Supreme Court, giving the example of a letter forwarded by former CBI director Anil Sinha to Das on September 17, 2015, "wherein the CBI director pleaded" with Das to provide "necessary clarification" in the Aircel-Maxis scam.
Das, says Swamy in the letter, "stalled the further investigation by not replying and thus the interrogation of Chidambaram", adding, "The matter has now been brought out from the cold storage of the Ministry of Finance after Rakesh Asthana took over as acting director."
The result is that, Swamy says, on January 6, 2017, "in the court of Chief Justice of India my interloculory application No 78 on Aircel-Maxis cam was taken for the purpose of proceeding with further investigation into Foreign Investment Promotion Board illegal clearance approved by Chidambaram."
Accusing Chidambaram's son of "receiving payments as beneficiary from Maxis company of Malayasia, as revealed by the investigation by the Enforcement Directorate in 14 countries", Swamy says, under such circumstances it would be "wholly improper" to appoint Das as chairman of SEBI, calling such a move to be "entirely inconsistent" with the "anti-corruption campaign" of the BJP.

Comments

Modi’s Israel visit strengthened Pakistan’s hand in US–Iran truce: Ex-Indian diplomat

By Jag Jivan M. K. Bhadrakumar , a career diplomat with three decades of service in postings across the former Soviet Union, Pakistan, Iran, Afghanistan, South Korea, Sri Lanka, Germany, and Turkey, has warned that the current truce in the US–Iran war is “fragile and ridden with contradictions.” Writing in his blog India Punchline , Bhadrakumar argues that while Pakistan has emerged as a surprising broker of dialogue, the durability of the ceasefire remains uncertain.

Incarceration of Prof Saibaba 'revives' the question: What is crime, who is criminal?

By Kunal Pant* In 2016, a Supreme Court Judge asked the state of Maharashtra, “Do you want to extract a pound of flesh?” The statement was directed against the state for contesting the bail plea of Delhi University Professor GN Saibaba. Saibaba was arrested in 2014, a justification for which was to prevent him from committing what the police called “anti-national activities.”

Why Indo-Pak relations have been on 'knife’s edge' , hostilities may remain for long

By Utkarsh Bajpai* The past few decades have seen strides being made in all aspects of life – from sticks and stones to weaponry. The extreme case of this phenomenon has been nuclear weapons. The menace caused by nuclear weapons in the past is unforgettable. Images of Hiroshima and Nagasaki from 1945 come to mind, after the United States dropped two atomic bombs on the cities.

Food security? Gujarat govt puts more than 5 lakh ration cards in the 'silent' category

By Pankti Jog* A new statistical report uploaded by the Gujarat government on the national food security portal shows that ensuring food security for the marginalized community is still not a priority of the state. The statistical report, uploaded on December 24, highlights many weaknesses in implementing the National Food Security Act (NFSA) in state.

Manufacturing, services: India's low-skill, middle-skill labour remains underemployed

By Francis Kuriakose* The Indian economy was in a state of deceleration well before Covid-19 made its impact in early 2020. This can be inferred from the declining trends of four important macroeconomic variables that indicate the health of the economy in the last quarter of 2019.

The soundtrack of resistance: How 'Sada Sada Ya Nabi' is fueling the Iran war

By Syed Ali Mujtaba* The Persian track “ Sada Sada Ya Nabi ye ” by Hossein Sotoodeh has taken the world by storm. This viral media has cut across linguistic barriers to achieve cult status, reaching over 10 million views. The electrifying music and passionate rendition by the Iranian singer have resonated across the globe, particularly as the high-intensity military conflict involving Iran entered its second month in March 2026.

Lata Mangeshkar, a Dalit from Devdasi family, 'refused to sing a song' about Ambedkar

By Pramod Ranjan* An artist is known and respected for her art. But she is equally, or even more so known and respected for her social concerns. An artist's social concerns or in other words, her worldview, give a direction and purpose to her art. History remembers only such artists whose social concerns are deep, reasoned and of durable importance. Lata Mangeshkar (28 September 1929 – 6 February 2022) was a celebrated playback singer of the Hindi film industry. She was the uncrowned queen of Indian music for over seven decades. Her popularity was unmatched. Her songs were heard and admired not only in India but also in Pakistan, Bangladesh and many other South Asian countries. In this article, we will focus on her social concerns. Lata lived for 92 long years. Music ran in her blood. Her father also belonged to the world of music. Her two sisters, Asha Bhonsle and Usha Mangeshkar, are well-known singers. Lata might have been born in Indore but the blood of a famous Devdasi family...

'Batteries now cheap enough for solar to meet India's 90% demand': Expert quotes Ember study

By A Representative Shankar Sharma, Power & Climate Policy Analyst, has urged India’s top policymakers to reconsider the financial and ecological implications of the country’s energy transition strategy in light of recent global developments. In a letter dated April 10, 2026, addressed to the Union Ministers of Finance, Power, New & Renewable Energy, Environment, Forest & Climate Change, and the Vice Chair of NITI Aayog, with a copy to the Prime Minister, Sharma highlighted concerns over India’s ambitious plans for coal gasification and the Prototype Fast Breeder Reactor (PFBR).

Labour unrest in Manesar trigger tensions: Recently enacted labour codes blamed

By A Representative A civil rights coalition has expressed concern over recent developments in the industrial hub of Manesar in Haryana, where a series of labour actions and police responses have drawn attention. A statement, released by the Campaign Against State Repression (CASR), said it stood in solidarity with workers in IMT Manesar and other parts of the country, while also alleging instances of police excess during ongoing unrest.

Search This Blog