-The Indian Express Kolkata: Saradha Group CMD Sudipta Sen has sent an 18-page letter to the CBI containing names of several key politicians, officials and legal experts who allegedly milked the company for money. The letter, which reached the CBI in Delhi as Sen remained at large, was forwarded by the agency to its office in Kolkata, and it was subsequently referred to the Bidhannagar police commissionerate. Bidhannagar police commissioner Rajeev Kumar received...
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The fall of Saradha group revives old ghosts of ponzi schemes going bust -Atmadip Ray
-The Economic Times For many, it is a sense of deja vu. Fifteen years ago, the government and India's financial regulators came under fire after hundreds of crores were cleaned up by a few individuals and entities from gullible investors, who were promised fabulous returns from plantation schemes. In the uproar that followed, the government and the regulators sought to palm off the responsibility of regulation of such schemes on each...
More »Telecom firms spread a low-cost Net -Rajesh Kurup
-The Hindu Business Line Plans start from Re 1/day to hook those who have never logged in via smartphones Mumbai: Telecom operators are going the sachet way, launching low-cost packs to hook the new cell phone-Netizen. From one rupee a day to Rs 25 for seven days' usage, telecom service providers are coming up with novel plans to attract mobile Internet users. Aircel, Idea Cellular and Vodafone India have launched, or are launching,...
More »Irregularities in implementation of national rural employment scheme: CAG audit report -Swati Mathur
-The Times of India LUCKNOW: The Comptroller and Auditor General of India tabled the second performance audit of the Mahatma Gandhi National Rural Employment Guarantee Act in Parliament on Tuesday. The first performance audit was undertaken in 2007-08. The period of coverage of the first audit was February 2006 to March 2007. The present performance audit of the implementation of MGNREGA was taken up in response to a request from the ministry...
More »UPA's flagship employment scheme draws flak from CAG
-PTI Implementation of government's flagship scheme MNREGA has come under flak from CAG on various counts, including diversion of funds and impermissible works undertaken to the tune of about Rs 2,252 crore. The audit undertaken by the Comptroller and Auditor General of the programme launched by the Rural Development Ministry in 2006 found that works amounting to around Rs 4,070 crore were incomplete even after one to five years of launching. The CAG...
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