New Delhi: Against the backdrop of recent chit fund controversy in West Bengal, a Parliamentary committee on Friday slammed such schemes with demands for putting in place a single regulator to oversee their functioning or scrapping them altogether. The Parliamentary Standing Committee on Finance closely scrutinised the functioning of such schemes which recently led to a series of suicides in West Bengal.
Senior officials from RBI, CBDT, SEBI, Corporate Affairs Ministry and Finance Ministry, who appeared before the committee, admitted poor coordination and lack of regulation to control the flourishing chit fund business in the country. While agreeing that thousands of investors are being duped, they told the committee that the major onus lied on the states to regulate the schemes.
Accusing the Centre of giving conflicting data, a member later said while government claims that the scheme is functioning in 15 states, in reply to a question in Parliament, it has informed that chit fund business was flourishing in 17 states and six Union Territories. Committee Chairman and BJP leader Yashwant Sinha suggested that the 1982 Act regulating the chit fund business in the country be repealed through an ordinance, sources said.
He was of the view that the chit fund business should be scrapped to protect innocent investors. While most members, cutting across party lines supported his idea, some others said repealing the Act would not ensure that chit fund companies stop functioning....
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07:40 PM, May 17, 2013
Kolkata: Chit fund company Saradha group's chief Sudipta Sen was on Thursday sent to 9-day police custody, along with two of his close aides - Debjani Mukherjee and Arvind Singh Chouhan. The Bidhan Nagar police had sought a 14-day extension of their custody. The Saradha group allegedly duped lakhs of investors in a chit fund scheme. The police have unearthed 254 bank accounts and close to 200 properties of the...
04:46 PM, May 09, 2013
Two police constables were suspended after a person held in a pick-pocketing case allegedly committed suicide at a police lock-up at Chembur. ...
12:59 PM, Mar 18, 2013
A minor boy in Odisha's Jharsuguda district was allegedly tortured and inflicted burns with cigarette butt while in police custody in connection with a theft incident. ...
06:32 PM, Feb 16, 2013
New Delhi: A Delhi court on Monday extended for three more days the police custody of slain liquor baron Ponty Chadha's five employees, who were arrested for allegedly forcibly entering a farmhouse in New Delhi and thrashing its occupants November 17. Metropolitan Magistrate Sudhanshu Kaushik extended till November 28 the police custody of Bhupender Singh, Uday Raj Singh, Rajpal Singh, Anand Singh Bisht and Mathura Singh Mehra. "Keeping in mind...
03:56 AM, Nov 27, 2012
New Delhi: A Delhi court on Saturday handed over the custody of 26/11 key handler Abu Jundal to Gujarat ATS in connection with the 2006 train blast at Ahmedabad station in which he is alleged to be one of the main conspirators. Chief Metropolitan Magistrate Vidya Parkash handed over Jundal alias Syed Zabiuddin's custody to Gujarat ATS till October 31 for his custodial interrogation in connection with the Karanawati Express...
09:40 PM, Oct 20, 2012
Nashik: Terror suspect and 26/11 handler Abu Jundal's police custody was extended till October 3 by a court in Nashik on Monday. Jundal was produced before Chief Judicial Magistrate AD Sawant amid tight security this morning. Special Public Prosecutor Ajay Misar said Jundal's interrogation so far had elicited some information about his links with terrorist outfit Lashkar-e-Toiba. Jundal is in ATS custody here since September 11 in connection with a...
03:58 PM, Sep 24, 2012
Kolkata: In a re-run of the Norway custody battle, US authorities have restricted access of an Indian couple to their one-year-old son. The US authorities took the step after the child allegedly fell from his bed and suffered injury. The child is now in hospital. The parents say a child protection team has restricted their access to the child, pending an enquiry into the incident. The father, Debashish Saha, hails...
11:27 PM, Sep 09, 2012
Mumbai: A Maharashtra Control of Organised Crime Act (MCOCA) court will on Monday decide whether to extend the police custody of key 26/11 handler Abu Jundal. Jundal was brought to Mumbai in July after a Delhi court gave the Maharahstra ATS his custody. The ATS, in turn, handed Jundal over to the Mumbai Crime Branch. ...
08:32 AM, Sep 03, 2012
Bangalore: The 11 terror suspects arrested on Wednesday by the Bangalore Police were on Friday sent to 14-days police custody. The profile of the accused who were arrested for alleged terror links with LeT and HuJI has shocked all. Those arrested included a DRDO engineer and a journalist from a popular English daily. Another was an MBA student. Sources say the journalist had been working for over two years in...
03:46 PM, Aug 31, 2012
Mumbai: A Mumbai court will on Tuesday hear a plea to extend the police custody of 24 people who were arrested in connection with the Azad Maidan violence case. A total of 43 people have been arrested on charges of murder and rioting during the violence that broke out. The protests had been called in to demonstrate against the Assam violence. However, within no time, the march turned violent as...
09:40 AM, Aug 28, 2012
New Delhi: Key accused in the Geetika Sharma suicide case, former Haryana minister Gopal Goyal Kanda's police custody ends on Saturday. Kanda is scheduled to appear before the court later in the day. Kanda was one of those named in Geetika's suicide note and surrendered to the police last week, after absconding for 13 days. Kanda has reportedly told the police that he was not in touch with Geetika Sharma...
07:19 AM, Aug 25, 2012
New Delhi: The alleged killer of the Mumbai lawyer Pallavi Purkayastha, security guard Sajjad Ahmed was on Saturday sent to police custody till August 17. The Mumbai Crime Branch has said that private guards are now under its scanner as this was the third murder of a woman in an apartment in the city. In Pallavi's case, the crime branch is likely to book Sajjad's agency under the Security Agencies...
01:07 PM, Aug 11, 2012
Gurgaon: Ten office bearers of Maruti Suzuki Workers' Union (MSWU), including President Ram Meher and General Secretary Sarabjit Singh, who were arrested on Wednesday, have been sent to seven days police custody by a local judicial magistrate. While producing them before the court of the magistrate on Thursday, the police sought ten days custody alleging that they were the main accused in the violence at Maruti Suzuki's Manesar plant on...
03:52 PM, Aug 02, 2012
Mumbai: The police custody of Bollywood starlet Laila Khan's stepfather Parvez Tak, who is the prime accused in her murder case, will end on Monday. Tak, who is also a suspected Lashkar-e-Toiba, is a native of Jammu and Kashmir's Kishtwar town, about 230 km from Jammu. He was arrested on June 21 after Laila Khan's vehicle was found in that town. Jammu and Kashmir Police on July 7 handed Tak...
10:42 AM, Jul 23, 2012
Guwahati: A Guwahati court on Saturday remanded Gaurav Jyoti Neog, the TV channel reporter arrested on the charge of instigating an attack on a teenaged girl who was molested in the capital city of Assam, to three days of police custody. Neog, the reporter of city-based Live News channel, was remanded to custody by the court of Chief Judicial Magistrate of Kamrup Siddhartha Pratim Moitra. He was arrested on Friday...
07:43 PM, Jul 21, 2012
New Delhi: The police custody of the prime accused in the missing Bollywood starlet Laila Khan case, Parvez Tak, was on Thursday extended till July 23. Tak was charged with the kidnapping and murder of Laila Khan after he said he had committed the murders and led the Mumbai Crime Branch to the starlet's Nashik bungalow where six skeletons were found. A forensic analysis report, however, is awaited. Tak, who...
03:05 PM, Jul 19, 2012
New Delhi: The police custody of the prime accused in the missing Bollywood starlet Laila Khan case, Parvez Tak, ends on Thursday. Tak was charged with the kidnapping and murder of Laila Khan after he said he had committed the murders and led the Mumbai Crime Branch to the starlet's Nashik bungalow where six skeletons were found. A forensic analysis report, however, is awaited. Tak, who was allegedly the second...
08:37 AM, Jul 19, 2012
New Delhi: Prime suspect in the missing Bollywood starlet Laila Khan case, Parvez Tak was on Monday sent to police custody till July 19. Tak was produced in a Mumbai court on Monday, after he was brought from Jammu and Kashmir. Crime branch sources said that the investigators were trying to verify Tak's claims as he "is a compulsive liar and constantly changes his statements." Tak has also named another...
01:42 PM, Jul 09, 2012
Hyderabad: The Andhra Pradesh High Court on Saturday granted a five day custody of YSR Congress Chief Jagan Mohan Reddy to the Central Bureau of Investigation (CBI). Jagan's interim bail plea at the High Court has also been rejected. The CBI had approached the High Court after the CBI court refused to give police custody of Jagan and directed him to judicial custody till June 11. Jagan Mohan Reddy was...
03:58 PM, Jun 02, 2012
