-The Telegraph The "Bonzi" edifice, Bengal's version of the fraudulent Ponzi scheme that conned US investors a century ago, is shaking at its foundations. The panic set off by Saradha defaulting on payments has spread to similar schemes run by other firms and triggered protests and attacks on company offices in several parts of the state. These schemes' mostly small-time rural investors have begun to panic about the safety of their hard-earned...
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In Karnataka race of millionaires, Real estate ahead of mining -Johnson TA
-The Indian Express Bangalore: When affidavits were filed by the contestants for the 2008 assembly polls declaring their wealth, it was a close race between the two dominant money-spinning sectors in Karnataka - Real estate and iron ore mining. Affidavits filed by 5,376 candidates in the fray for the May 5 assembly polls show that the Real estate sector that flourishes in and around Bangalore and, to a lesser extent, around cities...
More »Chits come home to roost
-The Telegraph Calcutta: From Mamata Banerjee's backyard in Harish Chatterjee Street to Contai in East Midnapore, a contagion of protests is spreading in several parts of Bengal. Funds collection agents of the Saradha Group are besieging the seats of power with appeals to step in and avert a run on the chit fund-fuelled company since the Trinamul government was seen as the undeclared gilt-edged guarantor during the good times. Trinamul lent credence to...
More »PMO refues to give information related to Robert Vadra land deal case -Ashish Tripathi
-The Times of India LUCKNOW: The Prime Minister's Office (PMO) has denied to provide information on Robert Vadra writ petition filed in the Allahabad high court. The public information officer (PIO) of the PMO denied providing notesheet of the case-related file to the petitioner and social activist Nutan Thakur saying that the matter was sub-judice. To this Thakur, wrote to the first appellate authority (FAO) saying that the RTI Act nowhere prohibits...
More »Why corruption isn’t a poll issue in Karnataka -Prithvi Datta Chandra Shobhi
-The Indian Express If the BJP finds itself on the back foot today, it isn't because of corruption scandals, but due to the splintering of its social coalition As the stage is set for the state assembly elections in Karnataka, former Prime Minister H.D. Deve Gowda recently made a surprising admission: corruption is not an issue in the upcoming elections, and the precipitous decline in political morality can only be arrested by...
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