-Economic and Political Weekly The Supreme Court judgment on the Novartis-Glivec case is remarkable because it has gone beyond the specific technical and legal issues surrounding patents and has put the matter in a much larger political and economic perspective. The deeper implication of the judgment is that it is not only justified to deny patents when incremental innovation is trivial as in the Glivec case. The judgment has linked the...
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Can legal measures root out chit fund frauds? - Yes -Ramesh K. Vaidyanathan and Anumeha Iyer
-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...
More »Saradha chit fund scam: West Bengal, Northeast hot-bed of investment frauds; NRIs major target
-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,...
More »WB chit fund scam: Governor calls special Assembly session next week
-CNN-IBN Kolkata: West Bengal Governor MK Narayanan has called a special session of the state Assembly next week beginning April 29 to discuss the chit fund scam. Speaker Biman Banerjee, in fact, has called an all-party meeting at 3 pm on Friday to discuss the special session. But the TMC wants the West Bengal Protection of Depositors' Interest in Financial Institution Bill to be returned by the Centre so that it could...
More »2,644 died during clinical trial of drugs in 7 years: Govt to SC -Dhananjay Mahapatra
-The Times of India As many as 2,644 people, called subjects, died during the clinical trials of 475 new drugs on human beings in last seven years and only 17 of the medicines were approved for marketing in India, the Centre has informed the Supreme Court. Responding to allegations by NGO, Swasthya Adhikar Manch, in its PIL that Indians were used as guinea pigs by foreign pharmaceutical majors for human trial of...
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