"Where does the political party gets its funds from? Come on, I've been in Parliament for four years. It's not cheques, it's not by small members. All money comes in through black money. Black money doesn't come from heaven," Bajaj Auto chairman said addressing a CII conference.
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Black money funds political parties: Rahul Bajaj
Image: Rahul Bajaj.
Black money funds political parties: Rahul Bajaj
Image: Swiss bank UBS.Photographs: Reuters.
"Corporates do take it out from the company. Most of us know some of the ways of taking that money out...taking out black money from a company is cheating minority shareholders," he said.
Bajaj's comments come even as a debate rages nationally over black money of Indians stashed in Swiss Bank accounts, with demands being made to get the money - quantum of which is unknown but speculated to be huge - back to India.
Black money funds political parties: Rahul Bajaj
Image: Corruption rises.
Black money funds political parties: Rahul Bajaj
Image: Ramalinga Raju.However, he also spoke against the prevailing "presumption" in government to see every promoter as a "crook" and asked for better legislative systems to boost the economic climate.
"One bad egg should not mean that you shackle the entire corporate sector. The 95 per cent who do business well should not suffer," he said, pointing out to the Satyam case involving R Raju and the company's external auditors PricewaterHouse Coopers.
Black money funds political parties: Rahul Bajaj
Image: PwC office.On independent directors, he said, many-a-time, they are cronies appointed by the promoters themselves. Independent directors should decide whether "to be led or to lead", he said.
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