Time magazine picked him as one of 100 people shaping our world. Today, he’s held responsible for bringing an exciting, inspirational business into disrepute. Oh, and his wife says he beat her and snatched their son. There could not be a more controversial torchbearer than Vikram Akula for an industry as quintessentially Indian as microfinance, the business of providing the poor with loans, as small as R5,000, secured not with...

Subterfuge is the favourite tool of the corrupt, when caught. That seems to be the case as the Union ministry of commerce and industry proceeds at an elephantine pace in its “inquiry” into the Rs 2,500-crore rice export scam reported in Outlook. Last year, on July 30, Parliament erupted in a furore over the revelation that despite a strict ban on exports, tonnes of 25 per cent broken, non-Basmati rice...

BJP is screaming hoarse about corruption in the UPA and demanding telecom minister A Raja's scalp for alleged misdeeds related to 2G spectrum allotment. But in Karnataka, where the party is in power, more skeletons are tumbling out of the scam-scarred B S Yeddyurappa government's cupboard. The latest to come to light had the chief minister allot land to his sons' company. In the first of the three cases, about which...

For “blatant” violation of coastal zone norms The controversial 31-storey Adarsh Housing Society in Mumbai is facing demolition, as the Union Environment Ministry issued a show-cause on Friday for “blatant” violation of coastal zone norms. The Society has two weeks to submit a written reply and a further week to meet Ministry officials and make its case. The notice asked the promoters to explain “why the unauthorised structure should not be removed forthwith.” “After...

We are a cash-rich company run by professionals,” says a smarmy 30-something Mumbai-based head of a leading real estate company. His company’s exponential growth in the span of just five years has raised eyebrows in industry and banking circles. The reasons are clear. The company is known to have tremendous clout in the corridors of power and with the builders’ lobby. It is backed by several important politicians in Mumbai and...