Syndicate Bank: Court orders proclamation proceedings against alleged middleman CBI seeks list of films cleared by Rakesh Kurnar Rashmi Rajput Sebi damps down on larges everponzL.. worth 150k<r Orders realty firm PACL to dose schemes, refund investors' rnoney in 3 months NEW DELHI: In its biggest- ever crackdown on a targescale illicit rnoney pooling schenie estimated atnearly Rs 50,000 crore, regulator Secu- rities and Exchange Board of Indk (Sebi) on Fridayordered inunediate dosure of unauthorised collectiye invest- ment schemes run by PACL Ltd and refund of inyestor& money within three rnonths. Besides, the capital maxkets regulator also saH it is initiating further pro ceedings against the company and its The number of customers through whom nine promoters and directors for fraudulent and unfair the company collected this money is estimated at 5.85 crore, which trade practices, as also for violation of Sebi's collective includes both those investors investment schemes (CIS) wha have been allotted land and Regulations, among others, those who are yetto be allottedland as per a direction from the Supreme Court oflndia. could have been collected per Sebi's 92-page order, the total amount mobilised by the company, 'by its is 5.85 PACFS top executives, indud Ing Ninnal Singh Bhangoo, crore, which includes the afe belogprobed by Central customers who are said te ureau of Investigation of own admission' comes to a havebeen allotted land and Indfa (CBI) as weil. Besides, this isis also one As estimated at around whopping Rs 49,100 crore and who areyet tobe allotted the 'this figure could have been even more if PACL would land, Sebi said. ofthe longest-running cases 'This is the biggest ever amount, as also the largest under the scanner of Sebi, which had first intimated humber of investors, so far involved in a case found to be unauthorjsed 'collective PACL more than 16 years ago way back in February investment scheme' by regulator Sebi. Among others, launch any new schemes nor have provided the details of the funds mobilized during theperiodofl April, 2012 to 25 25 February 2013 The number ofcustomers through which the money 1998, that lt could 'neither continue raising funds under Crcacks whip on 'livesfock' scheme, bars Step Up Marketing from raising funds MUMBAI: fSsh crackdown on illegal 'livestock' In a investment schemes promising huge returns, Sebi today barred Step Up Marketing redsing The funds frorn such scheines, Securities has prima and till its directors from further directions, and Exchange Board of Indio (Sebi) fade found that the Haryana-based firm was carrying out 'collective investment scheme (CIS)' without obtaining requisite authorisation from the market regulator. The company was found ta be raising money schemes 'Real Step Pashupalan Ing Farm' tor sole, under its Breed Bnd keeping of and Real Step breeding, rearing livestock. 'Protecting the interests of investors is the first ond forcmost mandate for Sebi and therefore, steps have to be taken to Ltd does not ensure that Step Up Marketing Private collec? Further funds under its schemes and no investors are defrauded,' Schi said in an order on Friday. PTI schemes? Wbile the company main ofland, registration expenses, tained tat lt was not running any fflicit scheme and was other incidental expenses? The case later went to its existing in fact engaged in the busi and developmental charge courts, while the apex court ness of sale and purchase of passed an order in Febru- land, Sebi issued a notice in ary last year directing Sebi to ascertain whether the business of PACL feil within November 1999 to PACL, alleging that lt 'was operat Ing CIS, wherein the funds ofthe investors were pooled and utjlised towards the cost the purview of CIS not, and accordingly take further action. PTI SYNDICATE BANK CASE: MIDDLEMAN TO BE DECLARED ABSCONDING NEW DELHI: A CRI court here on Friday started proceedings against Purushottarn Lal Totlani, an alleged middieman in Syndicate Bank bribery case' to deciare hirn as proclairned offender. The court observed that NBWs (Non Bailable Warrant) were earlier issued against hirn twice in Totlani was evading Swarna Kanta the case and the arrest. Special Sharrna said, accused is concealing CRI judge 1 am convinced that the hirnself and the non-bailable warrants (NBW) cannot be executed against hirn, and therefore, order issuance of process under section absconding).' 82 CrPC (prociarnation for person Bihars reply on graft in drugs purchase SC seeks M POST BUREAU anwaz All challenging the Courts July 24 Patna High NEW DELHL: Supreme Court mi 'Ihe order refusing independent Friday probe with a direction that sought response from the Bihar government on a petition seeking CBI probe intq alleged irregularities the state's principal secretary, health wouldconduct an enquiry and final decion its sion would be base in processing and purchas- outcome. ing of drugs and surgical items by Bihar Medical Dutta Services and Infrastruc- yer Rajiv tureCorporation appearing for Ah, sub- Limited (BMSICL). bench headed by Chief Justice RM Lodha issued notices to state A government through its chief secretary, Department of Health and other departments concerned including BMSICL on Senior advocate Rajiv with law- along Kumar Singh, mitted that many patients have died due to bad quality of drugs and surgical instruments. 'Such kind of irresponact of state is not sible only failure of adminis- tration but also amountto negligence on part of ing the petition alleging mass procurement of drugs and corruption. equipment and amounts to The petition alleged that there were irregularities in against citizens,' the peti- the qualit tion said. quantity and rate of purchase of and surgical drugs items for 20 12-13, ignoring the standard set by State Bihar's Health Society, formed serious act of criminality The petitioner has filed the Patna High Court seeking direction a PIL at for proper and independent enquiry either by CBI to oversee better imple- or any other independent of National agency regarding the irregularities committed in pro- mentation Rural Health Mission. The apex court was hearing an appeat filed by Mohd Sah and pürchasing of drugs and surgical items. cessing Diamonds, goldfound in Censor Board CEO'S locker AAMLR KHAN MUMBAT, AUGUST22 CENTRAL Bureau of Film Certification CEO Rakesh Kumar's bank detailshave revealed that he acquired prop- and ornaments worth Rs erly 4.69 crore, the CBI claimed Friday, secldng extension ofhis remand. His remand hasbeen extended by seven days by the Special CDI court. In addition, the remand application filed by Inspector Suresh Iyerof the CBI claimed that the CEO received a "Lenovo laptop and an Apple i-pad" on August 1 for arranging the screening of Thmil film Anjaun at Infinity mall. "The movie was examined on July 30,2014 and subsequently censor certificate was issucd on August 5,2014," the CIII plea read. legal Kumar also received il- gratification of Rs 50,000 for screening the movie on August 9, it alleged. Accordingto the CBI, Kumar's bank lockers are in Mumbai and Vadodra. It seized 2kg gold jewellery and diamonds worth Rs 65 lakh from Kumar's locker jointly held with his wife Surbhi in Kalupur Commercial Cooper- ative Bank, Vadodara. The plea also revealed a property worth Rs 29.15 lakh was purchased in Delhi's Uday Parkin July2006in the name of Kumar's mother and sold for Rs 42.4lakhinJanuary2olo Censuring the censor 1 Time to revampthe CBFC THE censo board has often been in the eye of a storm. Yet by and large it has been censured either for banning certain films or for imposing cuts whMi rQducers finØ qnpaJa4b4.Btjhi time it has come under the scanner for most unsavoury of all reasons. It is indeed abominable that the CEO o the Central Board of Film Certiuicâtion(BFc),Rakesh ICumar, has beM*srreste U by the CBI for allegedly ac6epting bribes for providing 'learance certificates s to movies. That the highest official after the chairperson of the CBFC has been caught in a "cash-for-clearance" scam, once again, underlines the urgency for a relook at the CBFC. The CBFC is a statutory body under the Ministry of Information and Broadcasting and regulates the public exhibition of films under the provisions of the Cinematograph Act 1952. Films can be publicly exhibited in India only after they are certified by the CBFC. Strangely while the film industry and the board havebeen at daggers drawn for a host of sons, money changing hands has only been rea- alluded to. Now some agents and an advisory panel member too are believed to be involved in the bribery scandal. That there is actually a 'pricelist' for clearing films points at the rot running deep that can't be stemmed by just suspending the CEO. The fact that he allegedly demandedmoney for a Chhattisgarhi film is even more contemptible for regional cinema needs constant encouragement and patronage to survive. The current imbroglio cements the lobby who argues that the board has outlived its utility Questioning the usefulness of theboard, however, might be an extreme viewpoint, But the need to update the Cineniatograph Act 1952, which determinS the certification process, has been felt for some time. Hence, the Mudgal panel was setup. While batting ative and artistic freedom, the for cre- panel recommended that the members of the advisory panels of the CBFC should be more professional and have adequate knowledge of cinema. All very wel1 only professional integrity must precede all other qualities. The future of the multi-billion Indian film industry can't be held hostage to the greed of few corrupt officials. V Sudipto spills names of Ministers, MPs SAUGAR SENGUPTA" what Inbumps the KOLKATA could give to top Central goose Thnamool Bureau of Investigation) has revealed the namesof"fourveryinfluential OI sidered very close to Chief Minister Mamata Baner3ee, in connection with the multi crore chit-fund scam. The Clii was also trying to know, under whose instruc tions he had fled IColkata in April 2013 after his business collapsed and whether the politicians he had named were in touchwith him while he was on the run before being arrest ed from Sonmarg in Kashmir, officials who quizzed Sen for hours on Friday said. Curiously Sen had left a let ter for the CM before he fled Kolkata. The CRI has found that only portions of the letter was leaked to the media while the names of some "big fishes" given in its annexure were held back. Incidentally, the Chief Minister had soon after Sen's escape had 'oneed"about his whereabouts saying he was somewhere in North India. The Agency sources also said that top East Bengal Club official Debabrata Sarkar who was arrested on Wednesday evening, following marathon grilling, had told them about two more Club officials through whom the chit cash was routed to other sources OUT, UNDER WHOSE INSTRUCTIONS HE HAD FLED KOLKATA IN APRIL 2013 AFTER HIS BUSINESS COLLAPSED, AND WHETHER THE POLITICIANS HE HAD NAMED WERE IN TOUCH WITH HIM WHILE HE WAS ON THE RUN ___ BEFORE BEING ARRESTED FROM SONMARG IN KASHMIR including business JP '- Lit j information on the issue" and could soon interrogate the lv in tourism industry in Goa SliM and Rh officials. from his ill-gotten On whether the CBI would money that heextractedfromsenbyuslng interrogate State Textiles threats. In fact the CE! had ear Minister SP Mukherjee and her recovered from Sarkar's 'I\lnamoolRajya Sabha Ahmed house "show-cause" letters writ Hassan Imran already sumten by Slim to Sen. The moned by the Enforcement recovery of the let sW:i Directorate, sources said "soon ter written by the ¶ "J',74Jejf/ a host of them would be SEE! to Sen from 't4*1y4i,1/gC called for Interrogation as Sarkar'shouse tend CBI has enough evidence ed to lend credence bits hands?' to Saradha boss's Imran who was the , claim that h gave editor of two promoney to many peo ¼ Trinamool newspapers pie including Sarkar "to and channels was last year manage" the SEBI and other sent to Rajya Sabha by the market regulators. Trinamool Congress. The ED The other two officials of Investigating the money-latin thefootballclubwonjdalsobe dering part of the Saradha summoned soon, sources said scam has reportedly found that adding the CM sleuths would Hassan had bought over the carry on further investigations media houses from Sudipto Sen in Goa where Serfs money was without having paid the price, ventures, Sarkar had invested huge Investedinhospitalityindustry The CBI sources also quoting Sen monthly !70 said that out of a lakh given to Meanwhile, a senior ThnamoolCongress leader and State 'fransport Minister Madan Mitra whose name has repeat- Sarkar, ?35 lakh was paid to a senior SEBI official and !l0 lakh was iven to "one Mr Sil edly come up for his alleged links with Sen was on Thursday admittedtoaprivatehospitalin of the RBI.' The agency sources said they were "gathering more Kolkata even as he complained of breathing problems. Sack Harsh Vardhau over removal of AIIMS vigilanôe officer: AAP STAFF REPORTER Stepping up its Central " NEW DELHI attack on the Government over the removal of AIIMS Chief Vigilance Officer Sanjeev Chaturvedi, the Aain Aadmi Party (AAP) on Friday called for the immediate sacking or resig nation of Dr Harsh Vardhan. AAP% national convener Arvind lcejriwal alleged that Chaturvedi was removed because Kejriwal alleged that Chaturvedi was removed because he brought corruption cases of a senior IAS officer of Himachal Pradesh who worked as a Deputy Director Administration in AIIMS, to light he brought corruption cases of a ièhior LAS officef of Hithãcjiai Pradesh who worked as a Deputy Director Administration in AIIMS, to light. "The Centre should take cognizance of the fact. The IAS officer whom against Chaturvedi had initiated the complaint is close to a senior BJP leader. taking Chaturvedi started action against the IAS officerwhichiswhyCßlcould approval Was wrong as AIIMS is not included in the list of Government rçquire institutions nod CVC's appointment of a CVO. "If CVC's approval that for was really an issue, the Minister could have approached the CVC and obtained the same, rather than removing an honofficer. All you require is good intention and will," est register cases against him. Because of these cases IAS officer could not become Chief Kejriwal said. The AAP leader Secretary of the State. The BJP leader had complained about Chaturvedi several times, but Indian Forest Service Officer as his complaints were examined and rejected:' said Kejriwal. powerful vested interests, there Kejriwal sought the inter vention of Prime Minister Narendra Modi in this matter. He said that the logic given by Harsh Vardhan that Chaturvedis appointment required Chief Vigilance Commission's (CVC) added that there were attempts to the Haryana cadre remove the from Day 1. "Under influence of some CVO were attempts to remove Chaturvedi within a few months of his posting. Parliamentary The Standing Committee took umbrage and sought to know why it snould not be treated as breath ilege of the ofpriv ParliamenC he said. Refund Rs49,000 cr to investors Sebi to PACL Amount more than twice the size of Sahara's; collective investment scheme operator has 3 months to return money and wind up BS REPORTERS Appellate could havebeen even more them and their associates klunibai, 22 August the Sebi IfPACL would have provid- for criminal conspiracy ed the and Tribunal against order. They added the Interests of Investors Saying PACL Ltd ran ment scheme, a collective Invest- mobillsing about 50,000 crore, the Securities and be jeopardised. The refund Is to take would not place within three months, with a winding- up and mobifised during the penod between April 1, 2012, and February 25, repayment report to be submitted to Sebi within another 15 days, according to PACL has and wind up operations. a 92-page order by It crackdown the biggest on a large- scale illicit money-pooling Sebi whole-time it the Central said will move the Securities Bureau of as saylng at that time. Thecompany it was in the business of purchasing and (CBI) had reg- land was transferred to istered a case against the investors, who could sell it for gains. The compa- of ny is said to have paid Appellate promoters Tribunal PACL against the sister firm PGF Sebi Ltd. This fol- and Its the the company had twicethat collected by the mobilised Sahara crore till March 31. 2012, and another 4,364 IS crore agency inquiry, as directed by the accounts between Febmary 26,2013, and Junels thls year. "The Supreme Court, into alle- country. group, said to have {24,000 crore. which is mobilised Speaking to television lowed gations channels, PACL officials total amount mobilised huge said the comes whopping public. company planned to move the Securities to a N9,100 crore. This figure the conducting of collection deposits "The an of from the inquiry resulted In a case against developed commission of scheme. At 49,100 crore, the amount concerned is order land, developing adding Saran. 44,736 CBI Investlgation member Prashant The order said a cheating," spokesperson was quoted claimed In February this year, (Sebi) has asked the company to refund investors is 20137 said. Exchange Board of India This details of the funds 7,893.8 crore up to March2ol2. It had 58.5 million customers, the more than twice 22 mullion demat in the entire Of these, the company was yet to allot land to 46.3 million investors. TumtoPagelfl Sebi to PACL: Refund t49,000 cr to investors "It is difficult to believe apersoninuttarpradesh wifipurchase 100-150 yards ofagricultural land 2,000 km away. The lack of maintenance of proper records/data Is a clear indication the activities of PACL are in the nature of a Porn! scheme? the couit said. Its order also noted out of a sample of 500 randomly selected customers, not a single one had received land, even after eight years. The network of 250 associate companies to circumvent state lawson company operated through a land ownership, the order said. "PACL Ltd and its promoters and directors, including Tarlochan Slngh, Sukhdev Slngh. Gurmeet SingJi and Subrata Bhattacharya, shall wind up all the existing collective investment schemes o the company and refund the monies collected under Its schemes with returns due to Its investors, according to the terms of offer, within a period ofthree months? it said. 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