-PTI Amid a raging controversy over alleged cheating of gullible investors by Saradha group, the regulators have found that West Bengal and North-Eastern states have become a hot-bed of such FRAuds and NRIs from these regions account for a large chunk of deFRAuded people. While the Centre has announced an SFIO ( Serious FRAud Investigation Office) probe into the affairs of Kolkata-based Saradha group and other such entities across the country,...
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The Larger Implications of the Novartis Glivec Judgment-Sudip Chaudhuri
-Economic and Political Weekly The Supreme Court judgment on the Novartis-Glivec case is remarkable because it has gone beyond the specific technical and legal issues surrounding patents and has put the matter in a much larger political and economic perspective. The deeper implication of the judgment is that it is not only justified to deny patents when incremental innovation is trivial as in the Glivec case. The judgment has linked the...
More »Can legal measures root out chit fund FRAuds? - No -Pratim Ranjan Bose
-The Hindu Business Line There can be no denying the need for a legal FRAmework to ensure that the likes of Saradha do not take the entire financial system for a ride. But that said, there will always be greedy investors, willing to be taken in by the tall promises of unscrupulous operators. The latter's task is made easier by loopholes in the law. Hence, Ponzi operators used the legal loopholes...
More »Notice to government on doling out largesse to religious institutions
-The Hindu Bangalore: The Karnataka High Court on Thursday ordered issue of notices to the State government and various maths on a public interest litigation petition challenging the government for granting several crores of rupees to 13 Lingayat maths and a few others religious institutions in the budget. A Division Bench comprising Chief Justice D.H. Waghela and Justice B.V. Nagarathna passed the order on the petition filed by H. Marappa and others...
More »WB chit fund scam: Governor calls special Assembly session next week
-CNN-IBN Kolkata: West Bengal Governor MK Narayanan has called a special session of the state Assembly next week beginning April 29 to discuss the chit fund scam. Speaker Biman Banerjee, in fact, has called an all-party meeting at 3 pm on Friday to discuss the special session. But the TMC wants the West Bengal Protection of Depositors' Interest in Financial Institution Bill to be returned by the Centre so that it could...
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