India to sell 'enemy shares' of people who fled to Pakistan

[INDIAPOSITIVE]

Indian Prime Minister Narendra Modi amended the law to include even assets held by legal heirs. — Reuters pic
NEW DELHI, Nov 9 — India’s government is to sell more than US$400 million (RM1.7 million) worth of shares left behind by people who fled to Pakistan or China after wars with those countries.

The government said the “enemy shares” were in 996 companies held by 20,323 people and entities. They were seized after conflicts with Pakistan in 1947, 1965 and 1971 and the 1962 border war with China.

The sale, to be led by India’s finance minister, is expected to raise at least US$413 million, a minister said after the government announcement late Thursday.

The proceeds would be used for development and social welfare programmes, the government added.

The shares are being sold under a 1968 law which defined as “enemy assets” those belonging to people who left India following the conflicts with Pakistan and China.

Citizens of hostile countries were treated as “enemies” and their assets including land, houses, jewellery and shares were seized.

Descendants of those who fled the country however continued to live in some of the properties.

“The decision will lead to monetisation of enemy shares that had been lying dormant for decades since coming into force of the Enemy Property Act in 1968,” said the government statement.

Prime Minister Narendra Modi’s nationalist government amended the controversial law in 2017 to include even assets held by legal heirs who stayed behind and were Indian citizens. This triggered outrage as many of those who left for Pakistan were Muslims.

Families who remain in the listed properties fear being evicted any time.

The government said in January it had identified more than 9,400 “enemy” assets for auction. Among these, 9,280 properties were left behind by Pakistani nationals and 126 by Chinese. — AFP

IN WORLD

https://www.malaymail.com/s/1691850/india-to-sell-enemy-shares-of-people-who-fled-to-pakistan

 

[El Sidd]

If the Pakistani government had given this idea a thought.

There would be mini Pakistans in India all over the place.

 

[SirHatesALot]

If the Pakistani government had given this idea a thought.

There would be mini Pakistans in India all over the place.

How we would have just seized their assets?

 

[Suriya]

If the Pakistani government had given this idea a thought.

There would be mini Pakistans in India all over the place.

Your govt sold all Hindu propreties that is properties of those Hindus who moved to india , back in the 1950s itself.

Liberal tolerant Hindu Indian govt are doing it after 70 years in 2018 .

 

[El Sidd]

How we would have just seized their assets?

I have No Intention of going in Details but all Land taken after 1956 is Indian Land.

All between 1947 to 1956 is claimable territory.

Dominion of India became Republic in 1956.

Colonial law is quite a Trick

Your govt sold all Hindu propreties that is properties of those Hindus who moved to india , back in the 1950s itself.

Liberal tolerant Hindu Indian govt are doing it after 70 years in 2018 .

1956 is the Keyword

 

[Jackdaws]

I have No Intention of going in Details but all Land taken after 1956 is Indian Land.

All between 1947 to 1956 is claimable territory.

Dominion of India became Republic in 1956.

Colonial law is quite a Trick



1956 is the Keyword

India became a republic in Jan 1951.

 

[Suriya]

I have No Intention of going in Details but all Land taken after 1956 is Indian Land.

All between 1947 to 1956 is claimable territory.

Dominion of India became Republic in 1956.

Colonial law is quite a Trick



1956 is the Keyword

India became a republic in Jan 26 1950 .
I don't know what are talking about 1956 ?

 

[El Sidd]

India became a republic in Jan 1951.

In 1956 Land reforms of India made it a True Republic.

 

[Jackdaws]

Indian Prime Minister Narendra Modi amended the law to include even assets held by legal heirs. — Reuters pic
NEW DELHI, Nov 9 — India’s government is to sell more than US$400 million (RM1.7 million) worth of shares left behind by people who fled to Pakistan or China after wars with those countries.

The government said the “enemy shares” were in 996 companies held by 20,323 people and entities. They were seized after conflicts with Pakistan in 1947, 1965 and 1971 and the 1962 border war with China.

The sale, to be led by India’s finance minister, is expected to raise at least US$413 million, a minister said after the government announcement late Thursday.

The proceeds would be used for development and social welfare programmes, the government added.

The shares are being sold under a 1968 law which defined as “enemy assets” those belonging to people who left India following the conflicts with Pakistan and China.

Citizens of hostile countries were treated as “enemies” and their assets including land, houses, jewellery and shares were seized.

Descendants of those who fled the country however continued to live in some of the properties.

“The decision will lead to monetisation of enemy shares that had been lying dormant for decades since coming into force of the Enemy Property Act in 1968,” said the government statement.

Prime Minister Narendra Modi’s nationalist government amended the controversial law in 2017 to include even assets held by legal heirs who stayed behind and were Indian citizens. This triggered outrage as many of those who left for Pakistan were Muslims.

Families who remain in the listed properties fear being evicted any time.

The government said in January it had identified more than 9,400 “enemy” assets for auction. Among these, 9,280 properties were left behind by Pakistani nationals and 126 by Chinese. — AFP

IN WORLD

https://www.malaymail.com/s/1691850/india-to-sell-enemy-shares-of-people-who-fled-to-pakistan

If the descendants are Indian citizens, the Govt has no right. From what I understand the borders were porous till the 1965 war. Also, the poor Chinese guys were held in internment camps and were almost forced to flee. They should be allowed to take back their assets. The Indian Chinese community had nothing to do with Red China.

In 1956 Land reforms of India made it a True Republic.

Nope. India ceased to be a dominion in 1951.

 

[El Sidd]

Nope. India ceased to be a dominion in 1951

There are legally two indias.

 

[Suriya]

In 1956 Land reforms of India made it a True Republic.

Nope. India ceased to be a dominion in 1951.

Jan 26 1950

 

[El Sidd]

Jan 26 1950

So you are calling everyone who moved to Pakistan between 1947 to 1950 as declared enemy?

Thats a Lot of People and we made a deal with them to give protection to them.

 

[Trango Towers]

Your govt sold all Hindu propreties that is properties of those Hindus who moved to india , back in the 1950s itself.

Liberal tolerant Hindu Indian govt are doing it after 70 years in 2018 .

Not libral tolerant....just slow

 

[Suriya]

So you are calling everyone who moved to Pakistan between 1947 to 1950 as declared enemy?

Thats a Lot of People and we made a deal with them to give protection to them.

No enemy property act came in 1965 after the indo pak war of 1965 .

Before that a Pakistani citizen of Indian origin can own property in india . After enactment of enemy property act , Pakistani and Chinese citizens lost right to over their Indian properties acquired before 1965 .

 

[KAMDEV]

If the Pakistani government had given this idea a thought.

There would be mini Pakistans in India all over the place.

Pakistan govt also did the same thing , properties of hindus were distributed to Muslims .