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Bahamas Leak Trembles 475 Indian Black Money Holders After Panama Papers Tsunami


To start with, Bahamas is a group comprising of 700 Islands in the Atlantic Ocean north of Cuba. Interestingly, the Panama leak and the Bahamas leak operations are taken by the same International Consortium of Investigative Journalists (ICIJ) and its media partners.

Big names have been highlighted with Panama issue, and the same is being repeated now the #bahamasleaks. The Islands are Tax-free paradise for any one.  Hence many black money holders find it a way to make their transactions legal.

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Mainly 475 Indian names have been screened amongst the 1, 75,000 names worldwide. Out of 475 Indians, many Hyderabad-based firm names and individual names have been highlighted. This came at a point of time when the Indian government has set a deadline of September 30th, 2010 for the declaration of unaccounted or undisclosed money till date.

Now, Bahamas leak might be an asset for the Indian government and Income Tax department to take action against the black money holders and Tax evaders.

Vedanta Group’s Anil Agarwal, Erstwhile Baron Group’s Kabir Mulchandani, Fashion TV India promoter Aman Gupta and On clave PTC, a trust company are the big names at National level. Coming to the state level, Nimmagadda Prasad, a business tycoon, is a major name that is being aired by the local media channels.

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Chandigarh-based Harbhajan Kaur and Gurjit Dhillon, mother-daughter duo linked to one Century Industries registered in the Bahamas, Aman Gupta the chairman of a Finnish water brand Sanjiv Kapoor, Jitendra P Patra and Sadat Rafiq Multani Myra Delores Rego of Mumbai and Ashok Chawla of Delhi are linked with an American and a Brit are named in the Bahamas leak.

Vehicle with Airbags and Over Speed Alarms May Bring Down Death Toll during Accidents in India

Airbags and Over Speed Alarms May Bring Down Death Toll

In a step to minimize the road accidents that take place in India at an alarming rate. Central Government of India has decided to take strict measures. These will be made mandatory once the legal cell permits the proposals made by Transport Ministry.

As a part of the drafted plans, vehicle manufacturers from now should include Airbags and Speed alarming systems. These are mandatory as these two are the major causes that lead to deaths in accidents.

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Airbags are intended to protect the life to the maximum extent when an accident occurs. Speed limit alarming is also another safety measure that is suggested. There are quite lags in implementing the overspeed alarm.

As per Indian standards and road conditions, the speed limit cannot be justified. There cannot be an ordinary speed fixed for driving conditions. Hence it will certainly be a matter of concern for the manufacturer as well as Road Transport Authorities.

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Coming to another proposal of the Road Transport Authority of India, the speed calculating cameras will be set up for monitoring the over speed travelling vehicles. The functionality will be similar to that of other countries.

Till date, there is no system or rule in India regarding the safety measures of a vehicle while manufacturing. But now, this seems to be a loophole in curbing the accidental deaths. It is sad to know that India stands next to China not only in population census but also in accidents.

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Both countries are back to back in the figures of accidental deaths that occur every year. The increase in growth rate of accidents is a matter of concern and hence, the Indian government has decided to take stringent measures to minimize them.

Traffic rules and other measures have not helped to lower the accidental deaths. Therefore, the root level is chosen. The safety features in the vehicle will assist in minimizing the deaths.

Unlike in foreign countries, India does not stress on Crash Tests conducted by NCAP while starring the safety of the vehicle. This also a mandatory step that is to be followed by the Government. Hopefully, the latest security measures come to real time implementation and decrease the death rate in accidents.

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