A “pre-meditated Rs25 billion Ponzi scheme” according to the prime minister, echoed by the minister of finance. “No report talks about a Ponzi scheme” contradicts the minister of tourism. “We should not use the term Ponzi” the conservators warn. And policyholders serving notice to the government for using the term ‘Ponzi’. Allegations of ministers harassing and intimidating members of the Rawat family. A letter signed under duress, according to Dawood Rawat’s lawyer… The British American Investment (BAI) saga is a topic on which a wise editorialist would be very wary of offering an opinion. Much safer to keep your mouth shut and write about global warming or healthy eating. But let’s strike a compromise and talk about Dawood Rawat, the man behind the BAI empire. I hasten to say that he is neither a friend nor a foe.
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