One of the people in the conversation has verbally told me I can use this.Am not naming any names etc here as this conversation is not “verified” by any agency and I may get into legal trouble.Yet I feel it is important for my readers to listen to this to really understand the perils of “investing” in India.
Officials of one investigative agency is quite baffled with the Economic Offence Wing (EOW) of Mumbai Police on one issue. Questions are being asked why EOW skipped crucial IPC Section 420 while registering a FIR against the National Spot Exchange Ltd (NSEL).
But few investigative officers (who do not wish to disclose their agency name) are quite upset and concerned with EOW for not putting IPC Section 420 in its FIR. “Whether it is an ignorance, a mistake or an intentionally planned strategy – the consequences would be that our case would get weakened against NSEL and its schemes.”
Section 420 of the Indian Penal Code (IPC) covers offences relating to cheating and dishonestly inducing delivery of property. It also means that whoever cheats and thereby dishonestly induces the person deceived to deliver any property to any person, or to make, alter or destroy the whole or any part of a valuable security, or anything which is signed or sealed, and which is capable of being converted into a valuable security, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.
“Why 420 was not invoked by EOW? It would have established the proceed of crime in NSEL case,” official said. He added, “It would have proven that total operation was manipulated and total transactions were misrepresented by NSEL and its management, for instance, disappearance of SGF amount. Now, not putting section 420 in FIR is like – saving skin of NSEL and its assets/schemes/products.”
Officer did not mince a word while saying, “its like proving Jignesh Shah not “Fit and Proper” to run the commodity exchanges, plan his exit route and than open the back doors for big giants to grab those controlling stakes in these exchanges.”– from India Today
Come election time in India and all sorts of characters come out of the woodwork to cash in on the extravaganza.Here is one singer who is looking at playing at BJP rallies/events with his own original song “Dabangg Hai Modiji”
Watch this video at your own risk !!
This post belongs to my This is India ! series.
You can’t mess with the fates. Or with astrologers. Srinivasan is a deeply superstitious individual. Meetings always happen on floor 11 of a prestigious Chennai hotel. Even the timing of the bus leaving the hotel is planned. The start of the AGM is also always at a particular time. Before every CSK match, there is a tantric triangle made outside the boundary line. He even refused to let the Indian team wear their new kit ahead of the 2012 T20 World Cup and stick to the old kit that they wore when they won the 2011 World Cup. The reason was probably a well-known astrologer and vaastu consultant in Chennai called Vaastu Venkatesan. They say that former India captain Kris Srikkanth introduced the astrologer to AC Muthiah and later to Srinivasan. The astrologer, according to reports, makes almost Rs 2 crore a year off Srinivasan-from Firstpost
This post is in continuation of my This is India ! Series (see here)
A group of parents sitting in a city medical college auditorium, facing a management team, appear to be attending an orientation session. A closer look reveals they are bidding for post-graduate medical seats. A parent stands up and announces he is ready to pay Rs 1 crore for an MD (radiology) seat. Another parent ups the bid by Rs 25 lakh. At the end of the two-hour session, the coveted seat goes to the ward of the highest bidder.
So highly contested have been the auctions for PG medical seats this year that the going rate for an MD (radiology) seat touched Rs 4 crore at a prominent Chennai college. It hovered between Rs 3 crore and Rs 3.5 crore for the same course in Bangalore colleges.
Successful bids for orthopaedics and dermatology seats varied between Rs 1 crore and Rs 1.5 crore. A paediatrics seat cost Rs 1.6 crore.
Parents find the auction disturbing. “It’s like buying property. The more money you have, the better your house is.”
A source says: “It seems only the elite can pursue some courses. What is also shocking is that students are a witness to this trend. So the student whose parent could not pay those extra lakhs is scarred for life.”
Reasons for the high demand are not far to seek. For the lakhs of students who aspire to specialize in radiology, there are only 683 seats every year. “The gap between demand and supply is enormous. The shortage is perpetuated so that the cost of seats rises every year” officials told TOI.
College managements, on their part, say their repeated pleas to the Medical Council of India (MCI) to increase the number of seats have been in vain. “If we admit very few students for some courses, the cost of their training goes up. How do we make up for that?” asks the principal of a college where PG-seat rates this year hovered between Rs 1 crore and Rs 3.5 crore. The huge gap in the number of under-graduate and post-graduate medical seats makes medical education costlier every year.-from TOI