Kolkata: The chit fund scam in West Bengal is getting bigger with market regulator Sebi turning the heat on over a dozen other companies running similar Ponzi schemes. People are rushing to withdraw Rs 20,000 crore invested in these companies.
Sebi has asked the government to look into the operations of all these companies. One such company is the Rose Valley Group, which has now approached West Bengal Chief Minister Mamata Banerjee seeking protection.
Its chairman Goutam Kundu wrote to the CM on April 23 saying that the group has assets worth Rs 10,000 crore and that his depositors were not at risk. Sebi has been trying for years to shut down Rose Valley but in vain.
The market regulator also has its eyes on MPS Greenery Developers, but the local courts had stayed Sebi's order. But with the spotlight now on these chit funds and the Trinamool Congress facing fire for their negligence, it is unlikely that Mamata Banerjee will bail them out. ...
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09:45 AM, Apr 26, 2013
Kolkata: The chit fund scam in West Bengal is getting bigger. Market regulator Sebi has asked the government to look into the operations of other companies, which could be compromising investor money like the Saradha group. The Rose Valley Group is one of them. The company has approached West Bengal Chief Minister Mamata Banerjee seeking protection. Its chairman Goutam Kundu wrote to the CM on April 23 saying that the...
07:50 AM, Apr 26, 2013
The artsy video game developed swept the 13th annual ceremony Wednesday with six wins. ...
02:11 PM, Mar 29, 2013
The Facebook Hacker Cup, of which the top prize is $10,000, is an annual worldwide programming competition where hackers compete against each other for fame, fortune, glory and a shot at the coveted Hacker Cup. ...
05:21 PM, Jan 16, 2013
Seattle: Days after launching Windows 8, Microsoft Corp is mounting a strong campaign to win over the software developers it needs to kick-start its new operating system. A lack of apps is Microsoft's Achilles heel as it attempts to catch Apple Inc and Google Inc in the rush toward mobile computing. Windows 8, the new Surface tablet and a range of Windows-based phones - all unveiled in the past week...
11:48 AM, Nov 04, 2012
Mumbai: The CBI on Friday conducted searches at the offices of IRB Infrastructure Developers Limited, in connection with the January 2010 murder of RTI activist Satish Shetty. IRB was, in fact, in news recently over its links with BJP chief Nitin Gadkari. "Searches are being conducted at four premises of IRB in Pune," a senior CBI official said on condition of anonymity without disclosing details. A year before he was...
01:49 PM, Nov 02, 2012
New Delhi: Smartphone apps are serious business, though developers of Android apps were left in limbo. In India, developers were only allowed to publish free apps, and this had limited the potential for innovative apps because of lack of incentive. Recently, India has made it in to Google's official list of countries where developers can register as certified Google Checkout merchants, thus allowing Indian developers to put out paid apps....
02:13 PM, Sep 24, 2012
Bangalore: About 3,500 young developers logged into Microsoft's Windows 8 OS in Bangalore on an 18-hour coding spree to develop a range of applications. "Budding developers, techno freaks and whizkids vied to create a range of applications at an 18-hour coding marathon for the formal launch of the Windows 8 version Oct 26 the world over," Microsoft India chairman Bhaskar Pramanik told reporters. Held at the sprawling Karnataka Trade Promotion...
12:24 PM, Sep 22, 2012
Chennai: A departure from developer of information technology (IT) infrastructure to lessor model and focus on spreading e-governance activities across the state are going to be the major feature of Kerala government's proposed IT policy to be announced soon, said a top government official. "Instead of building infrastructure we have decided to let out the land on long lease for infrastructure developers who will build the space needed for IT...
07:46 PM, Aug 13, 2012
New York: Facebook is letting app developers charge subscription fees, in addition to existing one-time payments, for games and other applications on its site. Facebook Inc. said on its developer blog Tuesday that the subscription feature will be available in July. The changes open up a new revenue stream for developers as well as for Facebook, which takes a 30 per cent cut from all payments on its site. People...
09:32 AM, Jun 20, 2012
Florida: Research In Motion Ltd gave developers a glimpse at its next-generation BlackBerry 10 smartphone on Tuesday and a set of software tools to create flashy apps to run on its new operating system, but investors were unimpressed and RIM's shares tumbled. At RIM's annual BlackBerry World conference in Orlando, new CEO Thorsten Heins took center stage to unveil a prototype of the devices RIM expects to launch later this...
10:46 AM, May 02, 2012
Toronto: Apple has cemented its dominance as the most popular mobile platform among application developers while Google's Android has receded and Research In Motion's devices plunged anew, according to a quarterly survey that may signal sales trends for mobile devices. The survey, which asked developers if they were interested in writing programs for various devices, showed Google's Android slipped even though sales of devices powered by the operating system surged....
01:58 PM, Mar 20, 2012
In his Budget wishlist, Raheja Developers MD Navin Raheja wishes for certain tax benefits that would make housing cheaper. ...
10:27 AM, Mar 15, 2012
J C Sharma, MD, Sobha Developers believes that the forthcoming Budget will decide how the demand situation will pan out going forward. However, Sharma feels that the worst is behind for the real estate sector with the Reserve Bank of India giving clear indications that interest rates have reached the peak of the tightening cycle. An optimistic Sharma said that 2012 will be a year of growth where realty companies...
06:17 PM, Mar 02, 2012
New Delhi: Real estate developers on Monday said the Land Acquisition Bill passed by the Cabinet would make land costlier by up to 80 per cent, adversely affecting the housing development in the country. Expressing disappointment over the Bill, which will now be introduced in Parliament on Wednesday, apex realtors body CREDAI NCR President Pankaj Bajaj said, "Farmers' interest have been protected, but the housing requirement of middle class have...
11:59 PM, Sep 05, 2011
Toronto: Mobile developers more than ever want to devote their energies to writing apps for Apple's iOS and Google's Android platforms at the expense of their less popular rivals, a study released on Wednesday showed. Apple and Google, already the favourites among developers, are likely to gain even more traction thanks to game-changing new services, according to the survey from research firm IDC and Appcelerator, a company that works with...
01:56 PM, Aug 03, 2011
Noida: Since 2008, residents of the National Capital Region (NCR) have had to contend with a very annoying problem: Endless text messages about yet another upcoming real estate project in the Noida and Greater Noida region. Those messages reflect the bustle of a new urban centre at the south-eastern edge of New Delhi. The Noida-Greater Noida region has steadily risen to become the leader in residential real estate sales in...
11:31 AM, Jun 07, 2011
Raheja Developers, MD, Navin Raheja in his wish list from Budget 2011 want government to unlock all govt land across all cities. ...
05:50 PM, Feb 22, 2011
New Delhi: India's urban population will more than double to over 600 million by 2035 as increasing number of people migrate to cities because of better infrastructure and employment opportunities, Finance Minister Pranab Mukherjee said on Friday. "With sustained high economic growth, the pace of urbanisation is set to accelerate. The next 25 years should see the urban population living in Indian towns and cities doubling," Mukherjee said at the...
05:18 PM, Dec 17, 2010
