The Adarsh housing scam, which has already cost Ashok Chavan his job as Maharashtra chief minister, is sinking to still more embarrassing depths as investigators comb carefully through the claims of its promoters, who invoked the names of Kargil heroes and war widows to extract clearances. Did any Kargil hero actually get a flat in Adarsh? In 2002, the society had listed two members — out of a total of 71...

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...

Ashok Chavan may have been forced to quit within weeks of his name being linked to the alleged shady dealings involving the Adarsh Housing Society but the CBI has been probing the members of the group for almost six months now, suspecting some of them to be proxy owners.The investigation was launched into the source of income of the defence officers and Central employees who own apartments in their name...

Sample some data on the microfinance performance in India: According to the data provided by www.mixmarket.org, microfinance in India reached close to 270 lakh active borrowers in 2009, with the average loan size close to Rs 8,000. This translates into total borrowing to over Rs 20,000 crore. Though this number seems large, it represents only 0.3% of our GDP. Thus, large swathes of poor, both in our villages and urban...

Several newspapers and TV channels, some of them among India’s biggest, have claimed credit for exposing the Adarsh society scam in which the who’s who of India’s defense and political establishment are involved. The scam exposes the nexus between Bureaucrats, politicians and unscrupulous defense service officers. Obviously it wouldn’t be anyone’s ‘exclusive’ if so many newspapers and channels broke the news. Or else there would be one journalist who reported...