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In Florida two research workers who are eminent economists, have come out with the conclusion that the Indian money to the tune of eight billion dollars has been amassed in the United States alone within a short period through irregular invoices only.

Now I come to buy back of shares. What will happen? I have seen a section of the corporate sector which had also expressed reservations about this buy back thing. It needs to be studied in depth on the basis of the experience of the corporate sector. Money has been taken from the bank and the bank siphoned it off. The investors have been robbed. The shares have been rigged in the market and as a result of the rigging and the expots inspired drain and many more things we have reached such a stage in the capital market and the corporate sector that there is no transparency of planning today. We are globalising. The Chartered Accountants, Cost Accountants in an unsigned statement have been saying that we must change our accounting system. But still if we look for the BIFR Reports coming, up to 80 per cent - 80 per cent! -- of the industries are referred to the BIFR as sick industries. It was as a result of the siphoning off of the money.