Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 73,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'catslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 73,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'catslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 74,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'artileslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 74,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'artileslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-trace').style.display = (document.getElementById('cakeErr67f3ce7722e22-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f3ce7722e22-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-code').style.display = (document.getElementById('cakeErr67f3ce7722e22-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-context').style.display = (document.getElementById('cakeErr67f3ce7722e22-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f3ce7722e22-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67f3ce7722e22-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 20679,
		&#039;title&#039; =&gt; &#039;Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Telegraph
&lt;/div&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.
&lt;/p&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 20824,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 20679,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Telegraph&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.&lt;/p&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 20679,
	&#039;title&#039; =&gt; &#039;Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Telegraph
&lt;/div&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.
&lt;/p&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 20824,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {},
		(int) 5 =&gt; object(Cake\ORM\Entity) {},
		(int) 6 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 20679
$metaTitle = &#039;LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta&#039;
$metaKeywords = &#039;saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance&#039;
$metaDesc = &#039;
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Telegraph&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.&lt;/p&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta | Im4change.org</title>
    <meta name="description" content="
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Rules against chit funds stuck in Delhi-Amit Gupta</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-The Telegraph</div><p align="justify"><br /><em>Ranchi: </em>Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.</p><p align="justify">Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act.</p><p align="justify">Top state sources said rules christened &quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&quot; were still awaiting the President's consent.</p><p align="justify">The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.</p><p align="justify">Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices.</p><p align="justify">For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.</p><p align="justify">As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.</p><p align="justify">The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.</p><p align="justify">Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.</p><p align="justify">Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.</p><p align="justify">Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18.</p><p align="justify">Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.</p><p align="justify">Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &quot;dubious NBFCs&quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.</p><p align="justify">The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &quot;Let me find out details. Right now, I am not aware of them,&quot; Kumar told The Telegraph.</p>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$maxBufferLength = (int) 8192
$file = '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php'
$line = (int) 853
$message = 'Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853'
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 48
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Code Context
            $response->getStatusCode(),

            ($reasonPhrase ? ' ' . $reasonPhrase : '')

        ));
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-trace').style.display = (document.getElementById('cakeErr67f3ce7722e22-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f3ce7722e22-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-code').style.display = (document.getElementById('cakeErr67f3ce7722e22-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-context').style.display = (document.getElementById('cakeErr67f3ce7722e22-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f3ce7722e22-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67f3ce7722e22-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 20679,
		&#039;title&#039; =&gt; &#039;Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Telegraph
&lt;/div&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.
&lt;/p&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 20824,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 20679,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Telegraph&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.&lt;/p&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 20679,
	&#039;title&#039; =&gt; &#039;Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Telegraph
&lt;/div&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.
&lt;/p&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 20824,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {},
		(int) 5 =&gt; object(Cake\ORM\Entity) {},
		(int) 6 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 20679
$metaTitle = &#039;LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta&#039;
$metaKeywords = &#039;saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance&#039;
$metaDesc = &#039;
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Telegraph&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.&lt;/p&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta | Im4change.org</title>
    <meta name="description" content="
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Rules against chit funds stuck in Delhi-Amit Gupta</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-The Telegraph</div><p align="justify"><br /><em>Ranchi: </em>Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.</p><p align="justify">Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act.</p><p align="justify">Top state sources said rules christened &quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&quot; were still awaiting the President's consent.</p><p align="justify">The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.</p><p align="justify">Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices.</p><p align="justify">For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.</p><p align="justify">As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.</p><p align="justify">The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.</p><p align="justify">Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.</p><p align="justify">Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.</p><p align="justify">Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18.</p><p align="justify">Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.</p><p align="justify">Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &quot;dubious NBFCs&quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.</p><p align="justify">The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &quot;Let me find out details. Right now, I am not aware of them,&quot; Kumar told The Telegraph.</p>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$reasonPhrase = 'OK'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitStatusLine() - CORE/src/Http/ResponseEmitter.php, line 148
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 54
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
Code Context
                    $value

                ), $first);

                $first = false;
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-trace').style.display = (document.getElementById('cakeErr67f3ce7722e22-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f3ce7722e22-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-code').style.display = (document.getElementById('cakeErr67f3ce7722e22-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f3ce7722e22-context').style.display = (document.getElementById('cakeErr67f3ce7722e22-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f3ce7722e22-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67f3ce7722e22-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 20679,
		&#039;title&#039; =&gt; &#039;Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Telegraph
&lt;/div&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.
&lt;/p&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 20824,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 20679,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Telegraph&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.&lt;/p&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 20679,
	&#039;title&#039; =&gt; &#039;Rules against chit funds stuck in Delhi-Amit Gupta&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Telegraph
&lt;/div&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.
&lt;/p&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 20824,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {},
		(int) 5 =&gt; object(Cake\ORM\Entity) {},
		(int) 6 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 20679
$metaTitle = &#039;LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta&#039;
$metaKeywords = &#039;saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance&#039;
$metaDesc = &#039;
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Telegraph&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;Ranchi: &lt;/em&gt;Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand Assembly had early last year forwarded rules framed by the state&#039;s institutional finance department for the President&#039;s consideration under The Chit Funds Act (1982), a central act.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Top state sources said rules christened &amp;quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&amp;quot; were still awaiting the President&#039;s consent.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand&#039;s policymakers had suggested FIR within 36 hours of sealing of fraud offices.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;For want of a concrete policy, the authorities in Jharkhand couldn&#039;t act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal&#039;s Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Saradha Realty India Limited regional office in the capital&#039;s Ratu Road area is closed since April 18.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &amp;quot;dubious NBFCs&amp;quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &amp;quot;Let me find out details. Right now, I am not aware of them,&amp;quot; Kumar told The Telegraph.&lt;/p&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta | Im4change.org</title>
    <meta name="description" content="
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Rules against chit funds stuck in Delhi-Amit Gupta</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-The Telegraph</div><p align="justify"><br /><em>Ranchi: </em>Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.</p><p align="justify">Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act.</p><p align="justify">Top state sources said rules christened &quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&quot; were still awaiting the President's consent.</p><p align="justify">The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.</p><p align="justify">Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices.</p><p align="justify">For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.</p><p align="justify">As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.</p><p align="justify">The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.</p><p align="justify">Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.</p><p align="justify">Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.</p><p align="justify">Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18.</p><p align="justify">Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.</p><p align="justify">Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &quot;dubious NBFCs&quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.</p><p align="justify">The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &quot;Let me find out details. Right now, I am not aware of them,&quot; Kumar told The Telegraph.</p>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$cookies = []
$values = [
	(int) 0 => 'text/html; charset=UTF-8'
]
$name = 'Content-Type'
$first = true
$value = 'text/html; charset=UTF-8'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitHeaders() - CORE/src/Http/ResponseEmitter.php, line 181
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 55
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

<head>

    <link rel="canonical" href="<?php echo Configure::read('SITE_URL'); ?><?php echo $urlPrefix;?><?php echo $article_current->category->slug; ?>/<?php echo $article_current->seo_url; ?>.html"/>

    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>

$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
$dataForView = [
	'article_current' => object(App\Model\Entity\Article) {

		'id' => (int) 20679,
		'title' => 'Rules against chit funds stuck in Delhi-Amit Gupta',
		'subheading' => '',
		'description' => '<div align="justify">
-The Telegraph
</div>
<p align="justify">
<br />
<em>Ranchi: </em>Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
</p>
<p align="justify">
Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act.
</p>
<p align="justify">
Top state sources said rules christened &quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&quot; were still awaiting the President's consent.
</p>
<p align="justify">
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
</p>
<p align="justify">
Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices.
</p>
<p align="justify">
For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
</p>
<p align="justify">
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
</p>
<p align="justify">
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
</p>
<p align="justify">
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
</p>
<p align="justify">
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
</p>
<p align="justify">
Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18.
</p>
<p align="justify">
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
</p>
<p align="justify">
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &quot;dubious NBFCs&quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
</p>
<p align="justify">
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &quot;Let me find out details. Right now, I am not aware of them,&quot; Kumar told The Telegraph.
</p>',
		'credit_writer' => 'The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html',
		'article_img' => '',
		'article_img_thumb' => '',
		'status' => (int) 1,
		'show_on_home' => (int) 1,
		'lang' => 'EN',
		'category_id' => (int) 16,
		'tag_keyword' => '',
		'seo_url' => 'rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824',
		'meta_title' => null,
		'meta_keywords' => null,
		'meta_description' => null,
		'noindex' => (int) 0,
		'publish_date' => object(Cake\I18n\FrozenDate) {},
		'most_visit_section_id' => null,
		'article_big_img' => null,
		'liveid' => (int) 20824,
		'created' => object(Cake\I18n\FrozenTime) {},
		'modified' => object(Cake\I18n\FrozenTime) {},
		'edate' => '',
		'tags' => [
			[maximum depth reached]
		],
		'category' => object(App\Model\Entity\Category) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[hasErrors]' => false,
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'Articles'
	
	},
	'articleid' => (int) 20679,
	'metaTitle' => 'LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta',
	'metaKeywords' => 'saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance',
	'metaDesc' => '
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...',
	'disp' => '<div align="justify">-The Telegraph</div><p align="justify"><br /><em>Ranchi: </em>Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.</p><p align="justify">Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act.</p><p align="justify">Top state sources said rules christened &quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&quot; were still awaiting the President's consent.</p><p align="justify">The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.</p><p align="justify">Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices.</p><p align="justify">For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.</p><p align="justify">As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.</p><p align="justify">The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.</p><p align="justify">Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.</p><p align="justify">Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.</p><p align="justify">Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18.</p><p align="justify">Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.</p><p align="justify">Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &quot;dubious NBFCs&quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.</p><p align="justify">The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &quot;Let me find out details. Right now, I am not aware of them,&quot; Kumar told The Telegraph.</p>',
	'lang' => 'English',
	'SITE_URL' => 'https://im4change.in/',
	'site_title' => 'im4change',
	'adminprix' => 'admin'
]
$article_current = object(App\Model\Entity\Article) {

	'id' => (int) 20679,
	'title' => 'Rules against chit funds stuck in Delhi-Amit Gupta',
	'subheading' => '',
	'description' => '<div align="justify">
-The Telegraph
</div>
<p align="justify">
<br />
<em>Ranchi: </em>Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.
</p>
<p align="justify">
Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act.
</p>
<p align="justify">
Top state sources said rules christened &quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&quot; were still awaiting the President's consent.
</p>
<p align="justify">
The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.
</p>
<p align="justify">
Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices.
</p>
<p align="justify">
For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.
</p>
<p align="justify">
As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.
</p>
<p align="justify">
The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.
</p>
<p align="justify">
Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.
</p>
<p align="justify">
Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.
</p>
<p align="justify">
Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18.
</p>
<p align="justify">
Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.
</p>
<p align="justify">
Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &quot;dubious NBFCs&quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.
</p>
<p align="justify">
The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &quot;Let me find out details. Right now, I am not aware of them,&quot; Kumar told The Telegraph.
</p>',
	'credit_writer' => 'The Telegraph, 29 April, 2013, www.telegraphindia.com/archives/archive.html',
	'article_img' => '',
	'article_img_thumb' => '',
	'status' => (int) 1,
	'show_on_home' => (int) 1,
	'lang' => 'EN',
	'category_id' => (int) 16,
	'tag_keyword' => '',
	'seo_url' => 'rules-against-chit-funds-stuck-in-delhi-amit-gupta-20824',
	'meta_title' => null,
	'meta_keywords' => null,
	'meta_description' => null,
	'noindex' => (int) 0,
	'publish_date' => object(Cake\I18n\FrozenDate) {},
	'most_visit_section_id' => null,
	'article_big_img' => null,
	'liveid' => (int) 20824,
	'created' => object(Cake\I18n\FrozenTime) {},
	'modified' => object(Cake\I18n\FrozenTime) {},
	'edate' => '',
	'tags' => [
		(int) 0 => object(Cake\ORM\Entity) {},
		(int) 1 => object(Cake\ORM\Entity) {},
		(int) 2 => object(Cake\ORM\Entity) {},
		(int) 3 => object(Cake\ORM\Entity) {},
		(int) 4 => object(Cake\ORM\Entity) {},
		(int) 5 => object(Cake\ORM\Entity) {},
		(int) 6 => object(Cake\ORM\Entity) {}
	],
	'category' => object(App\Model\Entity\Category) {},
	'[new]' => false,
	'[accessible]' => [
		'*' => true,
		'id' => false
	],
	'[dirty]' => [],
	'[original]' => [],
	'[virtual]' => [],
	'[hasErrors]' => false,
	'[errors]' => [],
	'[invalid]' => [],
	'[repository]' => 'Articles'

}
$articleid = (int) 20679
$metaTitle = 'LATEST NEWS UPDATES | Rules against chit funds stuck in Delhi-Amit Gupta'
$metaKeywords = 'saradha,Saradha Group,Chit fund,Ponzi scheme,crime,Fraud,Corporate Governance'
$metaDesc = '
-The Telegraph



Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety...'
$disp = '<div align="justify">-The Telegraph</div><p align="justify"><br /><em>Ranchi: </em>Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year.</p><p align="justify">Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act.</p><p align="justify">Top state sources said rules christened &quot;jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)&quot; were still awaiting the President's consent.</p><p align="justify">The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others.</p><p align="justify">Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices.</p><p align="justify">For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later.</p><p align="justify">As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe.</p><p align="justify">The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences.</p><p align="justify">Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer.</p><p align="justify">Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles.</p><p align="justify">Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18.</p><p align="justify">Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms.</p><p align="justify">Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against &quot;dubious NBFCs&quot; who operate with the aim of misappropriating the hard-earned money of innocent investors.</p><p align="justify">The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. &quot;Let me find out details. Right now, I am not aware of them,&quot; Kumar told The Telegraph.</p>'
$lang = 'English'
$SITE_URL = 'https://im4change.in/'
$site_title = 'im4change'
$adminprix = 'admin'

include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51

Rules against chit funds stuck in Delhi-Amit Gupta

-The Telegraph Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year. Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds Act (1982), a central act. Top state sources said rules christened "jamakartaon ke hiton ke sanrakshan rule (rules to safeguard depositor interest)" were still awaiting the President's consent. The rules detailed how and what kind of action could be taken against companies if they are found duping people, which authority - from circle officers to district magistrates - might be entitled to take action against fraud chit funds or non-banking finance companies (NBFCs), terms of penalty, among others. Jharkhand's policymakers had suggested FIR within 36 hours of sealing of fraud offices. For want of a concrete policy, the authorities in Jharkhand couldn't act on time in the Saradha scam. For instance, though bureaucrats sealed Sahebganj district office on February 13, 2013, after reports filtered in from Bengal that the Sudipta Sen-led group was duping depositors, FIRs could be lodged only on April 17, over two months later. As matters stood, police and district officials groped in the dark. As murmurs of discontent against Saradha grew, the state apparently directed district officials to lodge an FIR if they had sufficient evidence after probe. The state directed deputy commissioners and police superintendents to verify documents of erring companies of the group, check Internet accounts, conduct special audits, among others. After sealing the company, authorities failed to do many such specialised jobs as they lacked the expertise to track such complex economic offences. Jharkhand, inured to scams, also copes easily with them, it seems. As Union ministry of corporate affairs minister Sachin Pilot mulls over action against Saradha group and Bengal's Mamata Banerjee government is rocked by the scam, ripples in Jharkhand, an important foothold of tainted firm, are surprisingly fewer. Unlike mass protests and suicides in Bengal, no defrauded investor has come forward with a formal complaint. People still believe their money would be returned and want to steer clear of legal wrangles. Saradha Realty India Limited regional office in the capital's Ratu Road area is closed since April 18. Meanwhile, at least six companies - the well-known Rose Valley included - have moved Jharkhand High Court challenging a state order that named them as chit-fund firms. Under the tenure of Khurshid Anwar, former joint secretary in the institutional finance department, the then state government in November 2012 had warned people against "dubious NBFCs" who operate with the aim of misappropriating the hard-earned money of innocent investors. The department also put up posters on Reserve Bank of India (RBI) guidelines to investors against fraud finance institutions. Secretary Awinash Kumar, who has joined recently, claimed to be unaware of facts. "Let me find out details. Right now, I am not aware of them," Kumar told The Telegraph.