Savitri Era of those who adore, Om Sri Aurobindo and The Mother.

Sunday, July 10, 2011

Colossal and stupid wastage of wealth

From bijan ghosh solitude24@gmail.com to "Tusar N. Mohapatra" tusarnmohapatra@gmail.com date 9 July 2011 15:19 subject request - please make a BLOG of this write up

DEAD ASSETS
Bring Back Life to Dead Assets

Sri Padmanbhaswami Temple of Thiruvananthapuram, Kerala is a sixteenth Century temple, established and maintained by erstwhile royal family of Travancore, (by a private trust at present) has six underground chambers (viz. A, B, C,D, E & F). Chamber E & F are opened daily; Chamber C & D are opened twice in a year; Chamber A & B were not opened for merely 150 years.
On a PIL by one T.P. Sunderarajan (ex-IPS) – a seven-member committee was appointed on March 2011 by Supreme Court, entrusted with the task to make an inventory of the treasures which started taking inventory since 27.06.11. After opening five chambers – it found assets worth about Rs. 1,00,000/- crores, out of which about Rs. 50,000 crores was found from Chamber ‘A’ alone. Chamber ‘ B’ is yet to be opened – which alone may deliver much more assets than what are found by now (04.07.2011).
Raja Marthanda Verma challenged in Supreme Court the Order of Kerala High Court, which upheld State’s decision of taking over management of Temple, stated Supreme Court that Temple was a public property and no member of royal family claims any ownership or right over huge property.
The source of wealth was the erstwhile rural of Travancore Princely State, reportedly transferred the wealth to the Chambers of temple to protect them from Britishers. The myth and cobra motif on main door – strongly dictating “not-to-open the door” – understandably are all for security of wealth in some strange or peculiar manner, but for no other reasons. Such method was resorted to by many others – and was a common practice of those days for protection of such assets. It is commonly believed that only to escape invaders, even many rich-family-wealth were dumped also in pond / well /deep-soil – which took place throughout the country – so that some day it may come into the use for the son of the soil – to whom it ultimately belong.

BASIC QUESTIONS : Now the basic question is
(1) whether nation should bring those dead assets back to life or in other words, to put life to those dead assets (i.e. by putting them in circulation /utilization)?
(2) And whether such assets, which are not in circulation for last 100 years, should be called dead assets?
SIMPLE ANSWER:
1. Assets which are not in use for more than 100 years, should and can obviously be defined as “dead assets”. In fact those which are not in circulation for more than 20 years, should be considered as dead assets.
2. If the dead assets are allowed to remain dead – i.e. not-to-put those into circulation – then this would be a colossal and stupid wastage of wealth and negation to resources vis-à-vis against the dictum of the nature.
3. The best utilization of this wealth, undisputedly which is a public wealth, would be to liquidate the same at the best available price, strictly in foreign market, preferably in Europe and USA, to earn exclusively foreign exchange, and to utilize the same for repayment of foreign debts. If dead assets are paid against foreign debts - there would a national utilization and the whole population would be equally benefited.
CONCLUSION:
Vivekananda proclaimed that who serves the humanity, serves the god. The wealth kept in god’s custody is not meant for the deity but for the living god i.e. the human population of the country. Let us be blessed.

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