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Thank you for joining my space. The world is truly a remarkable and beautiful place but somehow we have lost our direction. Why can't we all get on together and live in peace? Why so much agression and no compassion or love for each other? Why do our leaders want to wage war in order to gain an economic advantage in controlling the natural resources of our planet? Why do such nations as the USA allow the manufacturing of weapons containing uranium components and yet profess that they are promoting disarmament? Who do they, the UK, European Countries and Israel insist in using these WMD's. I sincerely wanted to welcome you all in such a very nice and gentle way but I carry so much pain for the innocent men, women and children of past and current war zones that have sucumbed to these evil uranium weapons. We must all try to prohibit DU/EU or any other "Dirty Weapon" and learn to live in peace. We in the west have to close all bases that exist on Islamic soil and learn to trade instead of fighting. So I again welcome you to "Peter's Space" If you support war in any shape or form please do not enter my space. If you are a Christian Zionist or Jewish Zionist please do not enter my space. If however you are against war and any form of intimidation you are most welcome to take over my space.

Sunday, 10 April 2011

Pandora's Box becomes more target specific - Part 6

Pandora's Box becomes more target specific - Part 6

Massive Corporate Fraud - Corruption - Tax Evasion amounting to billions of pounds!!
Fraud uncovered that could topple the Conservative Party but will it happen?

The answer lies within the Labour Party who have all been given our forensic evidence but will they take action? Probable not because a few heads may have to role there also!!

I guess in a nutshell the Lib Dems are in the better position, but they also may have to provide a few sacrificial lambs to move forward, especially that of Nick Clegg!!

In the world today corporate fraud, corruption and tax evasion is at an all time high with direct involvement of banks, politicians and their respective parties.
The standards and obligations prescribed by the criminal, civil and administrative levels of law is invariably undermined and therefore ineffective.

It is apparent that over the last decade or so, we have tied the financial world up into so much law and regulations (which is supposed to be in the public interest), and which no longer serves the public interest or protects them against such fraudulent activity.

The lack of law enforcement agencies ability to investigate and distinguish dirty money produced or siphoned off from fraud and corruption and monies paid to banks, politicians and their parties is now totally out of control. When one adds to this the fact that many illegal arms deals are also interlinked we are looking at an extremely serious situation that could border on treason.

One has to look at the bigger picture, that if, through private transactions, fraud, corruption or gross neglect, such weapons falls into the wrong hands, the inevitable conflict or war will ensue.

The existing massive fraud undertaken by those that choose to bleed the system for their own financial gain has now reached and unprecedented level amounting too billion of pound each and every year.

It is as a direct result of this (around the world) corporate fraud, money laundering and tax evasion that we witnessed the financial global meltdown.

So my friend why are you holding out on the Vedanta & Vodafone deal?

To give you some insight as to how it works we have to target one company to which our own Prime Minister was involved on his last trip to India this year.

The story was covered by Rowena Mason in The Telegraph (19th February 2011) when she quoted:

Mr Cameron wrote to Indian prime minister Dr Manmohan Singh expressing worries about unpredictable government decisions, which could potentially be costly for the two FTSE 100 companies. He also raised the other complications relating to Vodafone,
The British prime minister specifically mentioned the delay in government approval for Cairn Energy's $9.6bn (£6bn) sale of its Indian subsidiary to Vedanta Resources. The deal has been waiting for the nod from Indian authorities for seven months.
Rowena’s report also mentioned the following:
British officials said Mr Cameron's letter raises more general concerns about the need for "predictability" in Indian government decision-making.

"It is about the predictability of the Indian environment and that's the same problem Vodafone is facing with this capital gains tax levied on them for buying Hutchison. That was not clear when the initial deal went through," said one official.

So who is behind this company called Cairn Energy and is there a connection between this company, the Prime Minister, David Cameron and his party?

Rowena described Sir Bill Gammell, Chief Executive of Cairn Energy as being well connected with the political establishment and that he his a personal friend of George W Bush and former school friend our very own Ex PM, Tony Blair. The report said that they are keen to get the deal completed so that they can focus on exploration in Greenland.

So let’s take a moment and introduce this Scottish based company which is listed on the London Stock Exchange and based in Edinburgh. Their two main areas of activity are the developing the Rajasthan resource base in India and exploring frontier basins in Greenland.

The companies punch line is:

Well folks let’s discover that hidden value for some of their shareholders/investors and to all the others around the world that have become the victims of fraud and corruption because this really does add a new meaning to the term “Risk Capital.” But perhaps we should define this term - The money that a person allocates to investing in high-risk securities……I can assure you that what Gordon Bowden has uncovered makes this statement “Extremely High Risk.”
Cairne Energy Plc formed a subsidiary in India called Cairn India and now the parent company in Edinburgh want to sell a proportion of Cairn India to another company called Vedanta

Cairn India and Vedanta run in a sort of stand alone manner with the parent arm being for Cairn in Edinburgh and Vedanta in London...all of which are listed on the Bombay Stock Exchange and the London Stock Exchange.

What this amounts too is basically and over estimated value of Cairn India being offered for part sale to Vedanta with common directorship..........This indirectly makes Vedanta shareholders pay more for the purchase of Cairn India (being possible overpriced)...thus taking money out of the coffers in India and out of the pocket of the shareholders (some shareholders may be outside of India). There is also a possibility that more shares may be offered or raised by Vedanta if and when the partial takeover takes place.

As far as Cairn India goes the $9.6 billion will then end up into the coffers of Cairn in the UK with a small proportion going to the Indian shareholders (if at all).....this comes under the title of "Asset Stripping".....which means two things for the Indian investors
1. They loose a big percentage of their company to another company and consequently do not get back the longer term yields one would expect if the company continued to be successful.
2. They are no longer share holders in the part that has been sold off.

Again they may be offered the option to buy share in Vedanta?

Cairn Energy Plc in the UK say the reason for this sale is to re invest this vast sum of money in an oil/gas exploration project in offshore Greenland which also has some serious concerns for Gordon and I.

Basically much money is siphoned off and some will be retained for exploration drilling, which over the last few years as certainly been unproductive with no real prospects at this time......add to this that Greenpeace is continuously lobbying for such activity to cease in this pristine environment and "World Heritage" location.........so now we see Cairn Energy Plc obtaining bank security loans for this next project......I am not totally convinced why they need the banks? They will have this vast $9.6 billion to play with so why would they want the banks to come onboard......well I guess you know why because in the event that Greenpeace stops the programme or that the exploration comes up empty then that becomes toxic debt and toxic debt is what the world's financial meltdown was all about......then we have to do a bail out (which really is not required in the real sense) to cover the toxic debt and the taxpayer has to pay it off for the next 5 -10 years and never get there money back (in the form of tax relief etc). The bail out by the way is not used by the bank to stay in business, but uses the taxpayers money to re invest in their own more lucrative deals.

What is so important to take into account is what Cairn Energy Plc received from the Royal Bank of Scotland:
In December 2009 the public owned Bank RBS made a $100m loan to Cairn meaning the British taxpayer is now partially underwriting the Company!!.

One should also note this statement by the company:

Subject to approval from the Government of Greenland, Cairn intends to drill up to four wells in 2011. Further details on the exploration programme will be provided in Cairn’s next operational update.

To provide the immediate liquidity required to enable the group to agree these contracts, Cairn has entered into a stand-by secured revolving debt facility of US $900 million that will also provide funding for general corporate purposes. The facility is provided by Standard Chartered Bank, Bank of Scotland Plc, Crédit Agricole Corporate and Investment Bank, HSBC Bank PLC and Société Générale.

You will note that HSBC is listed and it just so happens that on of the directors used to be a king pin in the HSBC!!

Again we have to understand that this project may fail for two reasons:
1. Greenpeace being successful in stopping the programme
2. That no commercial quantities of oil/gas are found
If and when the entire project fails it then becomes a massive toxic debt!!......and then I would ask the question who pays?

From my research the Greenland project is possibly destined to fail but we will see!!

We should also address another aspect of the London based “ Vedanta Empire,” that of its Chief Excutive and multi Billionaire, Anil Agarwal.
Gordon Bowden tells me he also has a very long list of interconnecting companies that equally should be investigated by the Serious Fraud Office. I have carried out a brief study on this gentleman and some comment made during an interview in relation to the above deal:

The reporter quoted him as saying “I understand the Indian psychology, that’s my biggest advantage in India, you must have patience everything else will come through it.” She asked him if Bill Gammell was running out of patience, he responded “Yes because nothing is changing, money is not being transferred and the company is completely intact.”

He went on to say “that if you are looking at buying a flat in Bombay city you go out, buy the flat and the conditions take place and then it goes for formal approval, to the committee and to the society, what ever it is the managing committee and they approve it, 99% of the case they approve it.”

“This is a great thing happening for the country, Indian assets coming to the Indian owners, this prospective will be very different, because our prospective will be always good, I have placed that most of the profit will come , all the profit will be deployed in the company.” “We will have a prospective that we will put huge growth , like all over the world Indian professions are very well accepted, so find the oil and do a joint venture and increase the reserve of oil for India.”

The reporter asked if he was disappointed with the way this deal is currently being dealt with by the Government of India. Mr Agarwal responded – “I think the Government of India is very responsible because the whole world today is watching India and in all respects this is a very small thing and this has been assured by the Government they have never ever defaulted on a contractual agreement and all the investors want to come to India, want to deploy and I believe there is no reason to believe this think should not happen but as delays taking place, the faster it happens, it is better for our country to think and go on, what we are looking for, the management is very anxious to taking this at a different level, were looking at a lot of joint ventures, everybody is very anxious.”

You can see the entire interview on the following link: http://www.moneycontrol.com/video/business/speedy-closurecairn-deal-win-win-for-india-agarwal_503322.html?utm_source=Article_Vid

Gordon Bowden who has uncovered some interesting facts.....he calls it forensic evidence The evidence not only shows that Aman Mehta is involved with the parent company in Edinburgh but also the fact the he also runs some virtual/shell companies by playing around with his name and yet its the same man......Gordon suggest you forward this evidence to the Indian Government as in his opinion this is definitely illegal under the term of insider trader etc. Before handing over to Gordon I will now list the Board of Directors in Cairn India and also the Board of Directors for Vedanta.

When you compare the two companies you will see a couple of connections:
Sir Bill Gammell Chairman

Sir Bill Gammell, 57, holds a BA in Economics and Accountancy from Stirling University and was awarded a knighthood in 2006 for services to the industry in Scotland. He has over 25 years of experience in the international oil and gas industry. He founded Cairn Energy PLC and was appointed Chief Executive on its initial listing in 1988. He is the Chairman and Non-Executive Director of Cairn India Limited and is a member of the Asia Task Force and the UK India Business Council. Sir Gammell, who is an ex-Scotland rugby internationalist, is also Chairman of Winning Scotland Foundation and a Director of Sport Scotland and Glasgow 2014 Limited and a member of the British Olympic Advisory Board.

Rahul Dhir Managing Director & Chief Executive Officer

Mr Rahul Dhir, 44, joined Cairn India in May 2006 as the Chief Executive Officer and was appointed the Managing Director on 22 August 2006. He completed his degree in Bachelor of Technology from the Indian Institute of Technology, Delhi. He went on to complete his M.Sc from the University of Texas at Austin and MBA from the Wharton Business School in Pennsylvania. Mr Dhir started his career as an oil and gas reservoir engineer before moving into investment banking. He has worked at SBC Warburg, Morgan Stanley and Merrill Lynch. Before joining Cairn India, he was Managing Director and Co-Head of Energy and Power Investment Banking at Merrill Lynch.

Rick Bott Executive Director & Chief Operating Officer

Mr Rick Bott, 50, was appointed as Additional Director on 29 April 2008 and assumed office of Executive Director and Chief Operating Officer with effect from 15 June 2008. Mr Bott holds a B.S in Marine Sciences and Masters in Geology from Texas A & M. Mr Bott has global exploration and production experience of more than 27 years and has served in several senior positions in Ocean Egypt Companies, Ocean Yemen Corporation, British Gas and Tenneco. Before joining Cairn India, he was Vice President of Devon Energy’s International Division, responsible for developing and implementing business growth and exploration strategy for assets in 12 countries outside of North America.
Indrajit Banerjee Executive Director & Chief Financial Officer

Mr Indrajit Banerjee, 54, was appointed as an Additional Director on 26 February, 2007 and as the Executive Director and Chief Financial Officer on 1 March, 2007. He graduated from the University of Calcutta with a Bachelor’s Degree in Commerce. An associate member of the Institute of Chartered Accountants of India, Mr Banerjee started his career at PriceWaterhouse Coopers in Calcutta in 1979. He has held several senior positions throughout his career, including 17 years at the Indian Aluminium Company, formerly part of the Alcan Group and at Lucent Technologies (India). Before joining Cairn India, he was President-Finance and Planning at Lupin Limited.

• Jann Brown • Non-Executive Director
Ms Jann Brown, 55, was appointed Finance Director of Cairn Energy PLC in 2006 and is also a non-executive director of Cairn India Limited. She holds an MA degree from Edinburgh University and joined Cairn Energy PLC in 1998 after a career in the accountancy profession, mainly with KPMG. Prior to her appointment as Finance Director, she served on the Group Management Board for seven years. She is a member of the Institute of Chartered Accountants of Scotland and the Chartered Institute of Taxation. She is the Senior Independent Director of Hansen Transmissions International NV, a Belgian engineering company which is listed on the London Stock exchange.
Malcolm Thoms Deputy Chairman

Mr Malcolm Thoms, 54, holds a BSc Hons degree in Physics from Edinburgh University and is an MBA from Heriot-Watt University and is currently trustee of the University of Edinburgh Development Trust. He started his career in the oil industry with Schlumberger and became the manager of their businesses in Qatar and Brunei. He joined Cairn Energy PLC in 1989 and held a number of senior management positions prior to his appointment as executive director in 2000. Currently, the Chief Operating Officer of Cairn Energy PLC, Mr Thoms is a non-executive director of Cairn India Limited and has recently been appointed as a non-executive director of Agora Oil & Gas AS.
Edward Story Non-Executive and Independent Director

Mr Edward T Story, 66, is a science graduate from Trinity University, San Antonio, Texas and holds a Masters degree in Business Administration from the University of Texas with an honorary Doctorate degree by the Institute of Finance and Economics of Mongolia. He is the Chairman of the North America Mongolia Business Council. Mr Story has more than 40 years experience in the international oil and gas industry and is the founder, President and Chief Executive Officer of the LSE listed SOCO International PLC.

Naresh Chandra Non-Executive and Independent Director

Mr Naresh Chandra, 75, is a post graduate (MSc. in Mathematics) from Allahabad University and a retired IAS officer. Previously, Mr Chandra was Chairman of the Indian Government Committee on Corporate Governance, India’s Ambassador to the USA, Advisor to the Prime Minister, Governor of Rajasthan, Cabinet Secretary to the Government of India, and Chief Secretary to the Government of Rajasthan. A reputed administrator and diplomat, Mr Chandra serves as an independent director on the boards of a number of companies.
Aman Mehta Non-Executive and Independent Director

Mr Aman Mehta, 63, is an economics graduate from Delhi University. He was earlier the Chief Executive Officer of HSBC Asia Pacific until 2003. Mr Mehta is currently an independent non-executive director of several public companies in India as well as overseas. Besides this he is also a member of the Advisory Council of INSEAD, France and International Advisory Boards of Prudential Inc., USA and CapitaLand Ltd. of Singapore.
Dr. Omkar Goswami Non-Executive and Independent Director

Dr Omkar Goswami, 53, holds a Master of Economics Degree from the Delhi School of Economics. He is a D. Phil. In Economics from Oxford University. He has authored various books and research papers on economic history, industrial economics, public sector, bankruptcy laws and procedures, economic policy, corporate finance, corporate governance, public finance, tax enforcement and legal reforms.

Now for Vedanta as shown below:

Anil Agarwal, aged 55 )
Executive Chairman
Mr Agarwal, who founded the Group in 1976, is also Chairman of Sterlite and is a Director of BALCO, HZL, and Vedanta Alumina Ltd. Since 1976 the Group has grown under his leadership, vision and strategy. Mr Agarwal has over 30 years’ experience as an industrialist.

Navin Agarwal, aged 48
Deputy Executive Chairman
Mr Agarwal is responsible for directing the Group’s business strategy as well as managing its overall growth. He also chairs the Group’s Executive Committee. In this role, he oversees the planning and completion of the pipeline of strategic growth projects. Mr Agarwal is also responsible for inorganic growth opportunities, strategic treasury and fund raising initiatives including long-term debt and equity global investor relations, as well as augmenting and managing the top talent of the Group.

M. S. Mehta, aged 53
Chief Executive
Prior to his appointment on the board and as CEO, Mr Mehta was whole-time Director and CEO of Hindustan Zinc Limited. Mr Mehta has been with the group since April 2000 and has held various leadership roles, such as Commercial Director (Base Metals) at the group level and Head of Sterlite Copper. Prior to joining the group, Mr Mehta has worked for about 20 years in the steel sector. Mr Mehta is a mechanical engineer and holds management degree from the Indian Institute of Management, Ahmedabad.
Non-Executive Directors

Naresh Chandra, aged 74
Mr Chandra joined the board in May 2004. Mr Chandra was Home Secretary in India in 1990, Cabinet Secretary from 1990 to 1992, Senior Adviser to the Prime Minister of India from 1992 to 1995 and the Indian Ambassador to United States of America from 1996 to 2001. He was Chairman of the Indian Government Committee on Corporate Governance from 2002 to 2003. He was given the prestigious civilian award of Padma Vibhushan by the President of India. Mr Chandra has a Master’s degree in Mathematics from Allahabad University.

Aman Mehta, aged 62
Mr Mehta, a senior banker, joined the board in November 2004, following his retirement from HSBC where he had a career spanning 36 years. He held numerous positions, including that of Chairman and Chief Executive Officer of HSBC USA Inc. (the New York based arm of HSBC Holdings plc), and as Deputy Chairman of HSBC Bank Middle East, based in Dubai with responsibility for the HSBC Group’s operations in the Middle East. In 1999, Mr Mehta was appointed Chief Executive Officer of the Hong Kong and Shanghai Banking Corporation, a position he held until his retirement. Mr Mehta has a Bachelor’s degree in Economics from Delhi University. He now resides in Delhi and is a member of a number of Corporate and Institutional Boards in India as well as overseas.

Euan Macdonald, aged 69
Mr Macdonald spent over 20 years with S.G. Warburg, specialising in emerging market finance. From 1995 to 1999, Mr Macdonald was Chairman of SBC Warburg India, responsible for all the bank’s activities in India, and then from 1999 to 2001, he was Executive Vice Chairman of HSBC Securities and Capital Markets, India. Mr Macdonald has a Bachelor’s degree in economics from the Cambridge University and a Masters degree in finance and international business from Columbia Business School.
Note of interest

You will see some family connections above who also have an array of companies under their belt. However, we have to draw the line somewhere otherwise this article will go on for ever.

Start of Gordon Bowden’s communication:

From my records and the Horses Mouth

Read & Digest

Greenpeace Media Briefing 31 August 2010

Bullet Point 2 page 1

In December 2009 the public owned Bank RBS made a $100m loan to Cairn meaning the British taxpayer is now partially underwriting the Company.

In addition I have included the following:

Director Interlock





(Insider Trading & Conflict of Interest)

Here endeth MY latest lesson to you on how to: "FOLLOW THE MONEY"
End of communication
Gordon then sent me an attachment regarding Greenpeace part of which is shown below:

Media Briefing 31 August 2010

Cairn Energy – ‘wildcat drilling’ at the ends of the earth

Key facts:

• Cairn Energy is an Edinburgh-based oil company founded in 1981 by former Scottish
rugby player Sir Bill Gammell. Despite its small size relative to other oil majors, the
company is listed on the FTSE 100 with a market value of £6.8bn.

• In December 2009 the publicly owned bank RBS made a $100m loan to Cairn, meaning
that the British taxpayer is now partially underwriting the company.
• Financially strengthened by a major find in Rajasthan, India in 2004, the company is now
at what Cairn executives describe as the ‘wildcat stage’ of exploratory drilling in the

• Cairn holds two licences in Baffin Bay, Greenland, covering approximately 72,000 square
kilometres - just under the size of Scotland as a whole.4 The company estimates its
chances of a significant find this summer at between 7-14%.

• Although other oil majors including Chevron and Exxon Mobil own licences nearby,
Cairn is currently the only company drilling in this area. Only six wells have ever been
completed in offshore Greenland – the last in 2000.

• The company has completed one exploratory well (which struck gas, but not oil), is still
drilling another, and plans to move to two new locations in the near future. The wells are
at a sea depth of between 320 and 630 meters.

• The six month moratorium on new drilling introduced by the US government after the
Deepwater Horizon disaster applies to wells deeper than 500ft, or 152 meters.

• Drilling is limited to a ‘summer window’ between July and November. After this date, sea ice becomes too thick to allow vessels to operate and relief wells cannot be drilled
effectively. In addition, Cairn’s environmental impact assessment only considers ice
conditions during the summer months.

• The Greenlandic government is refusing to release Cairn’s spill response plan11, but
reports suggest that it now has 14 vessels in the Greenland area capable of dealing with
a spill. BP’s response in the Gulf of Mexico involved over 6,500 vessels.

• The company is using ‘ice management’ techniques to tow icebergs out of the rig’s path
or use water cannons to divert them.13 The area in which the rig is situated is known
locally as ‘iceberg alley’.

• In August 2010 a section of the Petermann glacier four times size of Manhattan calved
into the sea,14 and is now floating south. An iceberg this size would force the entire rig to
be moved at short notice.

• Baffin Bay is home to 80 to 90% of the world’s Narwhals. The region is also home to
blue whales, polar bears, seals, sharks, cormorants, kittiwakes and numerous other
migratory birds.

Gordon then sent me these attachments to show the location of the company and how they play around with their name in order to hide their common directorship:

End of Gordon’s communications.

I also came across this brief article
Anil Agarwal's Vedanta Group is shifting its Indian corporate head office to Delhi by mid-April, three independent company sources said. In the backdrop of the hurdles faced in the Cairn-Vedanta deal, Anil Agarwal and his closest advisors have realised that staying in Delhi and networking with government agencies is essential for the group. Sources said, senior management of Vedanta Resources, Group CEO M S Mehta and Group CFO D D Jalan, along with the accounts department, are expected to move to Delhi.

This is also a step closer to forming a centralised office focused on following up on mining licenses and environment clearances, and obtaining various government approvals. Vedanta Resources is in the process of setting up a legal and a corporate affairs department. The two verticals will be headed by senior executives who are in the process of being appointed.

So there you have it........very interesting don’t you think and for sure certainly worth investigating.
Massive fraud occurs all over the world with its heart right here in the UK. What I find amazing is the fact that when you approach any Member of Parliament or Detective with this information you suddenly get that “blank, don’t want to know look.”

I have lost count as to how many politicians, councilors and policemen Gordon and I have approached and how many emails have passed backwards and forwards but one thing for sure.....both of us are focused in our purpose, both of us are proud of our country and both of use are determined to uncover this massive fraud and tax evasion in order to get this country back on its financial feet.......will we be successful?.......that depends if we live long enough!!!

This story and the one previously have been created especially for India, which continues to face massive corruption and fraud. It has been released based on the current activities between the British Government – The Government of India – Cairn Energy - Cairn India – Vedanta. It has been published in India by Vijayvannai.com on the following link http://www.vijayvaani.com

Stay tuned for more riveting grime and slime

Peter Eyre – Middle East Consultant – 10/4/2011 www.eyreinternational.com

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