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Don't Bribe and be Destroyed - by R V Pandit, 10 April 2005.

This is a true story - still unfolding. You would have never heard or read much of this ever for it involved in the recent past higher-ups in Delhi, the Ambani pere and two sons, and an activist citizen whose work in New Delhi was at best a matter of faint speculation by few, all players, for their own different reasons guarding the secrets. For the activities of the citizen involved the securing the independence and strengthening of L&T in the face of the Ambani onslaught to grab it through corruption and intrigue; Judases in Delhi giving away IPCL; the failed Ambani attempts to destruct ESSAR, MRPL, Haldia, and how HPCL and BPCL were saved for the nation during the NDA disinvestment spree. This story, and the role played by this citizen, who was the only one deeply involved in ALL these episodes is an extremely unlikely story, for he was not in the government ever, never a member of any political party. And the story of some consequence for India would have remained untold, as it should have. But the arrest in Mumbai of one Vasant Raj Pandit on 22 March 2005 by the Delhi Police changed all that. Here is the story, written by that person, a story that is stranger than fiction...

My son, Vasant Raj Pandit, was arrested at his office in Mumbai at 2 PM on the 22nd of March 2005 u/s 406/420 of the Indian Penal Code, and produced for remand before a Mumbai Magistrate, the same afternoon. The specific charge by a complainant to New Delhi Police is that he has "paid the amount but even after paying the full money, he did not receive the promised product." (The 'product' is a Magnetic Mattress Set and the complaint is true; in fact there are about 2,000 such instances, though not complaints to the police). A three-day remand to take him to Delhi was granted. On the 23rd evening he was taken to Delhi and produced at a Patiala House Court on the 24th. The judge remanded him in custody for 7 days, denying bail. The renewed bail application was heard on the 31st March. The Judge has stated in a written order dated 31.3.2005 that the Investigating Officer (IO) of the Police "submits that in this case cheating is of Rupees one thousand crores" and concludes, "No ground for bail application is made out. Bail application of accd. is rejected". Vasant Raj Pandit was sent to Judicial Custody for 14 days.
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