Over a month after the CBI cracked down on the alleged multi-crore kickbacks-for-loans scam, investigators are believed to have found irregularities in the loan files of at least eight companies, including Lavasa, DB Realty, Mantri Realty and Adani Group. In November, the CBI had arrested three members of Mumbai-based financial service company Money Matters and four others for their involvement in the alleged loan scam. The CBI, after going through loan...
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Paranjoy Guha Thakurta, journalist interviewed by Krishnakumar Padmanabhan
Hidden behind all the administrative scandals that rocked India in 2010, illegal mining is an unnoticed beast that has been eating into the country's soul. While corruption in spectrum allocation and the conduct of the Commonwealth Games are primarily about monetary loot, illegal mining is about invaluable non-renewable natural resources. In at least five major states, there were more than 20,000 complaints of illegal mining filed, but the perpetrators carried on with...
More »Govt explores capping FDI in pharma by CH Unnikrishnan
The Indian government is exploring a proposal to reduce the limit on foreign direct investment (FDI) allowed in the pharmaceutical industry through the automatic route to 49% from 100% amid concerns over the takeover of local drug makers by overseas firms. Officials from the ministry of commerce and industry and the ministry of health have had multiple rounds of discussions on the proposal following a note written to them by the finance...
More »Centre allows export of 5 lakh tonnes of sugar by Gargi Parsai
Production this year likely to be 24.5 million tonnes, compared to internal demand of 23 MT The Centre has allowed export of 5 lakh tonnes of sugar. It has asked sugar mills to register themselves for seeking the Release Order for exports under Open General LICence (OGL). They have been allowed to export raw, white and refined sugar, but no export subsidy will be given. Export only from new output The OGL export...
More »Nitish's assets much less than his colleagues
Bihar Chief Minister Nitish Kumar lags far behind his ministerial colleagues in his wealth, details of which were made pubLIC on Monday. Details of the assets of 30 Bihar ministers, including Kumar's were uploaded in the government websites as a step towards ending corruption and promised by the chief minister. Kumar's moveable assets include Rs 31,760 in cash, Rs 57,770 in bank account, a Santro car of 2003 model, an old TV...
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