-The Hindu Chief Minister Mamata Banerjee may be sleeping easy as she has "settled all the issues at hand" on the Saradha scam. Saradha Group promoter Sudipto Sen has been booked and a Rs. 500-crore kitty has been created to make refunds to the depositors. However, no one is clear just how the refunds would be made and whether existing laws permit it. Mr. Sen's bubble may have burst. But the travails...

-The Economic Times For many, it is a sense of deja vu. Fifteen years ago, the government and India's financial regulators came under fire after hundreds of crores were cleaned up by a few individuals and entities from gullible investors, who were promised fabulous returns from plantation schemes. In the uproar that followed, the government and the regulators sought to palm off the responsibility of regulation of such schemes on each...

-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...

-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...

-The Times of India Undeterred by stiff opposition from private developers and builders, the housing ministry is pushing hard to bring the real estate regulator bill, aiming to protect home buyers, in the current session of Parliament. Housing minister Ajay Maken on Sunday said the bill was expected to be brought up for consideration of the Cabinet soon before being introduced in Parliament. The government is looking to set up a tough regulator...