WHY TRANSPARENCY NEEDED IN LEASE OF ADYAR PROPERTY TO NADAR TRUST?


M K Ramadoss
 

WHY TRANSPARENCY NEEDED IN LEASE OF ADYAR PROPERTY TO NADAR TRUST?.

If the lease is fair and reasonable, no one need to fear transparency. If there is something to hide, then parties will try their best to keep the deal a super secret.

There are two key issues that are relevant in the deal since the land belongs to TS which is a tax exempt organization and hence taxpayer money is invested in it and public interest is involved. Transparency is a protection for everyone since the world would see the fairness of the deal. In such valuable property deals, correct valuation is critical. Any minor error would get magnified and TS would be the looser. So there should be full transparency as to how the values were arrived at and who the independent appraisers are and how much they were paid. Surely there were brokers and consultants were involved and got paid handsomely. Need disclosure who they are and how much they were paid. In addition, there could be conflict of interest known and unknown. So need to get a disclaimer if any theosophist either an official or ordinary member got benefited directly or indirectly, even if they are legally eligible.

Russian proverb says - TRUST BUT VERIFY

Even if very high Initiates were involved in the deal, in money matters, common sense should over ride to the protection of the good name of Theosophy and TS.

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