ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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New Opportunities from Liberalisation

proceeded along a leisurely fashion. Along with the state government, the Government of India and the Reserve Bank of India were impugned as interested parties; neither of them appeared to be particularly interested; affidavits and counter-affidavits were called for; but who does not know that the judiciary in our country is terribly overworked, the injunction thus continued for six and a half long years. The Janata Party inter- regum too was in the meantime over at the Centre. Perhaps the company's political connections were revived, perhaps its patrons scaled even higher pinnacles of power and glory in New Delhi. Irrespective of whether the injunction was vacated or not, the Government of India could have so amended the laws of the land as to put a restraint on the company's operations; the Board of Directors of the Reserve Bank of India too could have, if they had only so chosen, read the inspection report submitted to the Bank's Department of Non-Banking Operations and acted thereon. This is however the land of Buddha the Enlightened; the Government of India and the Reserve Bank decided not to see any evil, not to hear any evil, not to speak any evil. The company's business has expanded .twelve to thirteen times since September 1979; lapsations of policies and forfeitures of premia paid in must have also increased according to scale. How does it matter, it is only illiterate adivasis and peasants and factory workers and members of the lower middle class who got jilted; true, they must have lost hundreds and hundreds of crones of rupees thanks to the majesty of the High Court's stay order; so what, look at the brighter side of things, the agents and sub-agents, and the 'influential people' to whom they are related, never had it so good; you cannot dispute that this too is redistribution of income

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