March 22, 2025 10:51 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Lower representation in Parliament will weaken states' political strength: Stalin at delimitation meeting | Lower representation in Parliament will weaken states' political strength: Stalin at delimitation meeting | MK Stalin hosts mega multi-state meeting on delimitation in Chennai, BJP calls it drama | Cash pile accused Justice Yashwant Varma was named in CBI's FIR for alleged corruption, SC junked it later | London: Heathrow Airport resumes operation after substation fire causes power disruption | Bangladesh interim government not planning to ban Sheikh Hasina's Awami League | Fire at Delhi HC judge's house leads to recovery of unaccounted cash, SC collegium acts | Indian researcher Badar Khan Suri won't be deported from US over alleged Hamas link, orders judge | Donald Trump signs order to start dismantling US Education Department | Finland is world's happiest country, India slightly improves its happiness quotient with 118th position

Action will be taken against ponzi scheme offenders: Arun Jaitley informs RS

| | May 04, 2016, at 01:34 am
#Arun Jailtey # Government # Ponzi scheme # West Bengal # Saradha scam # Jaitley action # Rajya Sabha
New Delhi, May 3 (IBNS): Arun Jaitley, Minister of Corporate Affairs, on Tuesday made it clear to the Rajya Sabha that the government is committed to tackle the menace of unregulated ponzi deposit-taking schemes and take action against the offenders.
He informed that the Ministry of Corporate Affairs has ordered investigations through Serious Fraud Investigation Office (SFIO) under Section 235 of the Companies Act, 1956 and Section 212 of the Companies Act, 2013 into the affairs of 187 companies (as on 13-04-2016) against whom complaints had been received regarding alleged collection of funds through MLM/ Ponzi activities from the people in different States of the country.  
 
According to Jaitley, the government has taken a number of measures to check such cases of deposit taking activities and protect interests of the investors.
 
In West Bengal, the multi-crore scam by Saradha ponzi scheme left lakhs of depositors fleeced and triggered a political uproar.
 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
In Images: PM Modi meets Tulsi Gabbard in New Delhi
In Images: PM Modi meets Tulsi Gabbard in New Delhi Mar 18, 2025, at 03:19 pm
In Images: Modi meets New Zealand PM Christopher Luxon in New Delhi
In Images: Modi meets New Zealand PM Christopher Luxon in New Delhi Mar 17, 2025, at 03:03 pm
PM Modi receives warm welcome in Mauritius
PM Modi receives warm welcome in Mauritius Mar 11, 2025, at 03:05 pm
Related Videos
Sunita Williams, Butch Wilmore return after 286 days in space Mar 19, 2025, at 04:22 pm
PM Modi's podcast with Lex Fridman Mar 17, 2025, at 11:48 am
US releases video of attack that killed ISIS Global chief Abu Khaijah in Iraq Mar 15, 2025, at 10:31 pm
Close menu