Gujarati Bizmen Knew of Note Ban in Advance: Ex-BJP MLA Yatin Oza

Formerly close to Narendra Modi and Amit Shah, he is widely credited with giving Shah his first break in politics. (Facebook/Aburayan Dmk)

(In light of an RTI-based story, which revealed that a bank with Amit Shah on its board of directors collected most banned notes, the following article has been re-published from The Quint’s archives. This article was originally published on 21 November, 2016.)

In an open letter to Prime Minister Narendra Modi, Yatin Oza, former BJP MLA and Amit Shah’s political mentor, has written that industrialists close to the BJP government already knew of demonetisation before the official announcement on 8 November.

Oza claims to possess a video recording which will prove beyond doubt that close associates of Amit Shah were aware of demonetisation beforehand, reports the Citizen.in.

I have a video recording with me which will clearly and beyond reasonable doubt prove that all the near and close associates of Shri Amit Shah since 8th Nov till today are engaged into exchange business. There is a big queue outside their office and residence for conversion of black money into white at a discounted rate of 37%, people have queued up outside their office and residence. One has to go without identity with at least a sum of Rs. 1 Crore which will be counted by the employees and a bag containing Rs. 63 lakhs of valid denomination would be handed over. (sic)

Excerpt from Yatin Oza’s Letter 

Formerly close to PM Narendra Modi and BJP president Amit Shah, Oza is widely credited with giving Shah his break in politics; by appointing him as his election agent. Oza had contested the Assembly elections in Gujarat in 1995.

District Banks in Gujarat Exchanged Rs 500, Rs 1,000 Notes Before PM Modi’s Announcement

In his letter he has also alleged that district banks in Gujarat exchanged Rs 500 and Rs 1,000 notes before the announcement.

This in my respectful submission was permitted to be done in Gujarat because all district co-operative banks are controlled by people committed to BJP. These banks right from 9 PM on 8/11/2016 till 5 AM on 9/11/2016 exchanged Rs.500 and Rs.1000 currency notes against smaller denomination. You had through RBI called for the details of exact cash with denominations from all banks of the country on 08/11/2016. You yourself get it verified the veracity of my above statement. I assure you that if I am proved wrong I will tender a public apology.

Excerpt from Yatin Oza’s Letter 

Currently, Oza is with the Aam Aadmi Party, after breaking away from the BJP. Earlier, he had written a letter to Delhi chief minister Arvind Kejriwal that he was witness to a meeting Amit Shah and Akbaruddin Owais where they allegedly agreed on a deal for the Bihar elections.

Here’s the full text of his open letter to Prime Minister Modi, according to Citizen.in.

Full Text of Yatin Oza’s Open Letter to PM Modi

Dear Narendra Bhai,

I hope this letter finds you in best of health and happiness. On 8th of November 2016, after I heard your speech on demonetization, I was really very happy and from within complimented you for such a bold and historic step. Unfortunately, happiness did not last long. In the morning of 9th Nov, someone very near and dear informed me that yesterday i.e. on 8th Nov at around 12 in the afternoon wife of one of the leading industrialist of Ahmedabad in her presence came to a very leading jewellery shop and as per pre-order purchased gold worth 20 crores. Gold was ready and packed and it took two minutes to transfer gold and cash to each other. She was incidentally present at the shop buying pre ordered jewellery worth Rs. 5 lakhs. She is a doctor of a very high repute and eminence.

Having worked so closely with you and being a part of your kitchen cabinet at one point of time in past it immediately clicked to my mind that information of demonetization must have been conveyed well before announcement to your near and dear industrialist who in total controls 50% of black money of this country. Having spent whole day inquiring, thinking on the above lines the information that I gathered is shocking, by adhering to such a popularistic (sic) measure you have really befooled )(sic) the people of this nation.

In fact your above move was to enrich your near and dear ones, your party and your party workers by apparently putting forward the national cause and interest.

I have a video recording with me which will clearly and beyond reasonable doubt prove that all the near and close associates of Shri Amit Shah since 8th Nov till today are engaged into exchange business. There is a big queue outside their office and residence for conversion of black money into white at a discounted rate of 37%, people have queued up outside their office and residence. One has to go without identity with at least a sum of Rs. 1 Crore which will be counted by the employees and a bag containing Rs. 63 lakhs of valid denomination would be handed over.

I could have easily parted with that video but as I know you, you will punish those standing in queue rather than booking those persons engaged in the business who are near and dear to Mr. Amit Shah. However, I will show the video to two or three senior journalists and intimate you about the same so that you can cross check and verify the genuineness of my statement from the journalists.

One who knows you would refuse to accept that the ban that you imposed on district co-operative banks yesterday was after you received an information that large scale irregularities and illegalities were committed at that level. Even your enemy would respect your ability, capacity and intelligence. One thing is certain that such an important aspect could not have been out of your mind. I for one know very well that you will not act unless a complete blue print of your action is in your mind. All pros and cons of your action would very much be alive in your mind before you act.

This in my respectful submission was permitted to be done in Gujarat because all district co-operative banks are controlled by people committed to BJP. These banks right from 9 PM on 8/11/2016 till 5 AM on 9/11/2016 exchanged Rs.500 and Rs.1000 currency notes against smaller denomination. You had through RBI called for the details of exact cash with denominations from all banks of the country on 08/11/2016. You yourself get it verified the veracity of my above statement. I assure you that if I am proved wrong I will tender a public apology.

To weed out any doubt in the mind of people of India that sharks and whales have been let off and that your dear and near industrialists were intimated well in advance about demonetization, you should inform the people of India by disclosure on the official website of Government of India about disclosure of above 1 Crore. I am sure that not one chairman or MD or director of first 300 fortune companies of India would make a disclosure and if they don’t than my allegations stands proved.

I saw people hungry and thirsty standing in queue for Rs. 4000 and small deposits but I did not find a single Mercedes, BMW, Audi, Volvo, Porsche or Range Rover outside any bank or any owner of the said vehicle in a queue either for withdrawal or deposit of money. In your opinion possibly the black money was hoarded only by those people in queue either at the ATM or with bank but not with owners of vehicles mentioned above.

The people of this country would also like to know that apart from those fortune 300 industrialists how much money builders, contractors more particularly contractors who have been awarded government contracts, miners who are more particularly involved in iron ore mining, other industrialists and above all politicians and bureaucrats have deposited the money. Unless the people of this country have the above information as to who has deposited what amount, the allegation that the hoarders of 50% of black money i.e. those 10-12 like industries have been blessed by you by prior intimation will stand proved.

Moreover, at least poor and helpless people who have stood outside the bank in queue for petty amount would like to know what is the amount of deposit made by those 10-12 industries whom you allotted the land worth more than 1 lakh crores and who did not generate between themselves employment worth 7000 people. The publication of deposits on website would also throw light as to who are the persons who have deposited 300 to 400 crores and what action Income Tax department would take if they deposits either do not match with the return or known source of Income. I request you to also inquire the purchase of gold & diamonds sold on 7th and 8th before 8pm and by whom. This will enable people to think as to why few top notch needed purchase of huge amount of gold and diamonds.

Be kind and gracious enough to share the aforesaid information on the official website of the government of India so that people of this country may judge whether demonetization is for larger good of the country or for the benefit directly to you, your loved ones and your party workers.

Sincerely yours,

Yatin Oza