-PTI KOLKATA: The West Bengal government has stepped in for damage control after chit fund company Saradha Group went bust reviving memories of the collapse of Sanchayita Investments in the early eighties when several investors and agents committed suicide. Sanchayita collected more than Rs 120 crore in 1980 before its offices were raided and it folded up with only a handful of people getting back a minuscule amount of money. Two main...
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Court takes on ‘deposit’ firms -Pankaj Sarma
-The Telegraph Guwahati: Gauhati High Court has taken up a suo motu PIL against the Calcutta-based Saradha Group and similar deposit collecting companies for allegedly duping scores of investors in Assam of their hard-earned money. Official sources said the high court recently took up the PIL (15/2013) after taking cognisance of Krishak Mukti Sangram Samiti (KMSS) general secretary and RTI activist Akhil Gogoi's letter to Chief Justice Adarsh Kumar Goel. Akhil had alleged...
More »Niyamgiri mining ban to stay, SC says gram sabha will decide if project hits tribals' religious, cultural rights -Utkarsh Anand
-The Indian Express The Supreme Court on Thursday ruled that the Vedanta Group's bauxite mining project in the Niyamgiri Hills of Orissa will have to get the gram sabha's clearance on whether it affects the cultural and religious rights of the tribals and forest dwellers living in Rayagada and Kalahandi districts. While the gram sabha's nod is compulsory under the Forest Rights Act, the court made it clear that the Act confers...
More »Coca-Cola plans to expand its bottling plant in water-stressed area-Omar Rashid
-The Hindu Locals allege Coca-Cola is to blame for the rising water crisis in the area Varanasi: Holding it responsible for the aggravation of water crisis in the area, village councils here have opposed Coca-Cola's plans of expanding its existing bottling plant at Mehdiganj, 20 km from here, and called on the government to stop the company's current groundwater extraction. Fifteen panchayats or village councils here have asked the Central Ground Water Authority...
More »Drilling holes in the Thirst Economy-P Sainath
-The Hindu As the borewells go deeper in Maharashtra, there have been worrying instances of ‘paleo-historic storages' being breached "Only two of them work," says Badri Kharat of his borewells in Roshangaon. That's hard - when you've sunk 36 of them spending millions of rupees, as he has. Kharat, a big landowner and local political personage, has been generous to his neighbours in this village of Jalna district. He pipes in drinking...
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