-The Indian Express New Delhi/ Kolkata: Chit fund 'kingpin' names politicians from Bengal, Assam in letter to CBI. Sudipta Sen, promoter of Saradha Group, has claimed that Trinamool Congress's Rajya Sabha members Kunal Ghosh and Srinjay Bose assured him that his business interests will be protected "as they have a very close connection" with Chief Minister Mamata Banerjee. In an 18-page letter to the CBI, Sen has alleged that a number of politicians...
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Saradha crisis: Mamata hikes VAT on tobacco for relief fund- Romita Datta
-PTI Mamata Banerjee stages reversal of former apathy towards fate of those affected by Saradha Group demise Kolkata: West Bengal chief minister Mamata Banerjee staged a reversal of her former apathy towards the fate of those whose savings had disappeared amid the collapse of the deposit-taking Saradha Group. Having said on Monday that "what has gone, has gone", Banerjee on Wednesday announced a 10 percentage point hike in value-added tax (VAT) on tobacco...
More »Orissa to complete procuring land for Posco plant in two weeks
-Bloomberg The entire land could be handed over by June to Posco, which already has about 1,700 acres in its possession Mumbai: Orissa expects to complete procuring land needed forPosco's steel complex in less than two weeks as farmers relinquish their opposition on the proposed $12 billion project. About 200 acres (81 hectares) out of the total 2,700 acres are left to be acquired from local residents, said Satya Kumar Mallick, the administrative...
More »‘Boxed in’, Sebi too late
-The Telegraph Mumbai: The Securities and Exchange Board of India (Sebi) today asked Saradha Realty India to wind up its collective investment schemes and refund investors within three months. The company as well as its managing director Sudipto Sen have been prohibited from accessing the capital markets until all collective investment schemes are wound up and the refunds are complete. Legal proceedings and steps to wind up Saradha Realty would also be...
More »‘States have no inherent power to frame mining policy’
-The Hindu Act states regulation of mines and mineral development comes within Centre's purview: SC New Delhi: States have no power to frame a mining policy dehors the Mines and Minerals (Development and Regulation) Act and the Mineral Concession Rules. Reiterating this point, the Supreme Court on Tuesday dismissed review petitions filed by the Centre, JSW Steel Ltd and others seeking review of the September 2010 judgment in the ‘Sandur Manganese and Iron...
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