-The Financial Express Corporate fraud investigation body SFIO will have the power to carry out arrests once the new Companies Bill is passed by Parliament, Corporate Affairs Minister Veerappa Moily said today. "SFIO shall have the power to arrest in respect of certain offences of the Bill which attract the punishment for fraud. Those offences shall be cognisable and the persons accused of any such offence shall be released on bail subject...
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Lavasa takes objection to High Court petition filed by tribals
-PTI Days after two tribals from Pune district filed a petition in the Bombay High Court challenging a Government notification which empowers Lavasa Corp to act as a special planning authority, the company termed the move as "motivated and malafide". The realty firm, constructing a hill city (called Lavasa) near Pune, said the tribals, residents of Mulshi taluka, have no locus to file the petition since they are not owners of land...
More »Rise of livestock by Richard Mahapatra
Agriculture sector undergoes a historic change as livestock surpasses the economy of food grain Policy makers in India are finally acknowledging a structural shift in the agriculture sector they have been noticing for a decade. Economic contribution of livestock is today more than that of food grain crops. Traditionally, of the three components of the sector—crops, livestock and fisheries—crops drove the growth, and food grains are a major part of it....
More »Suicide blame on paddy
-The Telegraph A farmer in his mid-thirties killed himself in a Burdwan village early this morning, a mountain of debt driving him under after he was apparently forced to sell paddy to middlemen at a lower price. Tapas Majhi’s suicide comes at a time three Bengal agencies tasked with procuring paddy directly from farmers and mill owners have been able to meet just 10 per cent of their target because of lack...
More »India Inc plays safe; prefers lawful funding of political parties by Naren Karunakaran
The Aditya Birla Group increased its contribution to political parties about fourfold to Rs 30.5 crore in 2009-10 while the Bharti Group cut it from Rs 17 crore to zero. The two main national parties, Congress and BJP, received Rs 84 crore and Rs 82 crore, respectively, as contribution from all sources while a regional party like Sharad Pawar's NCP obtained only Rs 3 crore. The 2009-10 numbers of companies making legal...
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