Uniform law needed for free exit of rich businessmen

It is a matter of pride that Ambani, a wealthy national from India which was hitherto ruled by Britishers, has owned a palatial Rs 592 crore mansion in the London metropolis with 49 bedrooms and a state of the art medical facility at his disposal making it his second home, the first one being the Rs. 5000 crore Antilla Hill in Mumbai.

With due respect to his wealth which he might have earned through his hard work and all out efforts, it would be ideal if the government gives a clean chit to all the wealthy people including Ambanis D Nagarjunawho intend to settle down permanently or partially so that the government stays clear of the criticism that it has been facing when diamond merchants and businessmen fled the country and some having been escorted safely.

In fact, the government can come up with a common rule or law that makes it binding for all the wealthy people who are worth a specified amount in crores to ensure that they leave the country with self-respect and honour devoid of any suspicion and allegations against them by those in or out of power. With politics playing a dirty role, clean businessmen become shady and vice versa depending on which party is heading the government. It is high time business people are spared from being entangled in quagmire enabled by vested interests, notwithstanding the fact that politicians and wealthy people find themselves as Siamese twins.

Many would raise their eyebrows if Ambani is seeking a second shelter and before the suspicion catches fire, it is better if the government brings up a clear cut law in the ensuing Parliament session to allay the fears people may entertain whenever a businessman leaves the country temporarily or permanently. Let us not forget their contribution to our economy almost reaching to the point of running a parallel government if they are given a free hand.

Considering the wealth generated ethically or otherwise by such rich people like Ambanis and Adanis, let us not paint them with the same brush as we did to Mallya, Nirav Modi or Mehul Choksi. Unfortunately, we have reached a stage when someone particularly wealthy leaves the country, he/she has to pay the price of being suspected until cleared or proven guilty by the clearing agencies like CBI, Enforcement Directorate, banks etc. So, the bottom line is a new law to save the wealthy and also spare the people of undue suspicion, if any. Should something fishy happen, the new law would save the government from being targeted that it ensured a safe passage to law breakers and swindlers.

(The author is former Asst. Professor, St. Joseph's Degree & PG College, Hyderabad. The views expressed are personal)