-The Times of India The present Lok Sabha could well end up with the dubious distinction of being the least productive in terms of business transacted among those that completed their full five-year terms. According to statistics compiled by the Lok Sabha secretariat, 1,157 hours of sittings had taken place until the 12th session of the 15th Lok Sabha, which was elected in May 2009. Among the Houses that completed five-year terms, the...
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A legal blind spot-CRL Narasimhan
-The Hindu The Saradha group's spectacular failure has inflicted severe pain not only on its gullible depositors and agents but in a real sense on India's financial regulators and the State government as well. There is a law and order problem in West Bengal. Very soon, public attention will shift to regulation or the lack of it. The crisis, it appears, will not be confined to one state. In the worst...
More »In story of Saradha's crores, Bengal's forgotten hundreds -Madhuparna Das
-The Indian Express West Bengal is not new to chit fund Scams. What is unique to the Saradha Group scandal is how it targeted the poorest and the most marginalised, leaving them on the verge of devastation. From 17-year-old agents who raised money from depositors to 50-year-old widows who invested money, the Saradha Group didn't discriminate in roping them in. Since the house of cards started collapsing, two agents and two...
More »Different schemes built on different structures -Vinod Kothari
-The Hindu Even as thousands come to terms with the loss of life savings in the West Bengal "chit funds," it is interesting to find politicians promising new stern laws against such funds. Absence of laws is the least of the reasons for such schemes flourishing in the State. We are not short of such laws - in fact, we have plenty of laws that prohibit such schemes and provide for...
More »Truth is now grey matter
-The Hindustan Times It never rains, it pours as far as the troubles of the UPA government go in recent times. Any hope that the Scams which have been unearthed and their aftermath could be put behind it as it enters the final phase of its tenure before elections 2014 has been belied after the disclosure by the Central Bureau of Investigation director Ranjit Sinha that the agency had shown its...
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