-The Hindu   We'll have to make ‘some compromises,' to pass the Bills: govt. sources The UPA government had hoped to push its social welfare agenda through in Parliament by legislating on food security and land acquisition. Instead, just five days into the second half of the ongoing budget session, it is engaged in damage control, trying to put out three fires simultaneously - the coal blocks' allocation issue, the 2G JPC imbroglio...

-The Hindu Business Line Chit funds, one of India's oldest indigenous financial institutions, are regulated by the Chit Funds Act, 1982, a central statute, and various State-specific regulations. Further, the Securities and Exchange Board of India (SEBI) regulates the operation of ‘collective investment schemes' (Collective Investment Schemes) through the SEBI 1999 Regulations (CIS Regulations). However, Section 11 AA of the Securities and Exchange Board of India Act, 1992 specifically excludes a...

-PTI Amid a raging controversy over alleged cheating of gullible investors by saradha group, the regulators have found that West Bengal and North-Eastern states have become a hot-bed of such frauds and NRIs from these regions account for a large chunk of defrauded people. While the Centre has announced an SFIO ( Serious Fraud Investigation Office) probe into the affairs of Kolkata-based saradha group and other such entities across the country,...

-The Hindustan Times The meltdown of the saradha Group and subsequent focus on the state's multiple ponzi scams are hitting Bengal's film industry where it hurts the most - right in the pocket. The release of Asharey Gappo, a film funded by Angel Cinevision & Media - a deposit-taking company (popularly known as a ponzi fund) - has now been postponed indefinitely, even though the funding company does not have any apparent...

-The Times of India The collapse of saradha Group, promoted by Sudipta Sen, is the greatest threat yet to Mamata Banerjee's Trinamool Congress regime in Bengal. It could also imperil the finances of millions of people in Bengal, Assam, Jharkhand, Bihar, Orissa and eastern Uttar Pradesh. Trinamool's blatant association with the bigwigs of saradha, which raised vast amounts of money from poor people before collapsing, is a potentially fatal political body blow....