Saradha scam: WB govt to distribute compensation from September 30

Last Updated: Thursday, September 26, 2013, 21:38

Giving hope to lakhs of depositors defrauded by ponzi schemes of Saradha Group, Mamata Banerjee said state govt would start distributing compensation from September 30.

Govt may re-promulgate ordinance giving more powers to SEBI

Last Updated: Monday, September 9, 2013, 20:32

Government may re-promulgate the ordinance to empower Securities and Exchange Board of India (SEBI) to crack down on ponzi schemes, seek phone call records to check insider trading and carry out search and seizure operations,a top finance ministry official said Monday.

Coalgate, other scams of Rs 7000 cr unearthed by CVC in 2012

Last Updated: Wednesday, September 4, 2013, 16:04

Coalgate along with ponzi frauds and other alleged scams involving an amount of over Rs 7,000 crore were detected by the CVC last year.

Odisha to frame rules for implementing depositors` bill

Last Updated: Wednesday, August 14, 2013, 08:25

Odisha government on Tuesday said it would soon frame rules for early implementation of the law.

Agent of ponzi scheme operator kills self

Last Updated: Tuesday, August 13, 2013, 22:20

Unable to bear the pressure of investors to return their money, a woman agent of a ponzi scheme operating company allegedly committed suicide.

SEBI declares illegal money pooling as 'fraudulent'

Last Updated: Monday, August 12, 2013, 20:39

To curb rising instances of public getting defrauded by money pooling schemes, capital market regulator SEBI Monday decided to declare illegal mobilisation of funds as a "fraudulent and unfair trade practice".

Govt takes steps to curb ponzi schemes

Last Updated: Tuesday, August 6, 2013, 20:53

Minister of State for Finance Namo Narain Meena informed the Rajya Sabha that an ordinance has been promulgated to amend the Sebi Act that would provide more powers to act against illegal collective investment schemes.

SEBI will help those duped by ponzi schemes to get back money

Last Updated: Saturday, July 27, 2013, 22:16

In a major relief to depositors duped by ponzi schemes, the Securities and Exchange Board of India (SEBI) Saturday said its new powers would help in recovery of money from the fraudulent firms and return them to the investors.

Ponzi schemes: SEBI launches 550 prosecution cases

Last Updated: Wednesday, July 24, 2013, 20:21

Showing a strong will to take on the perpetrators of illegal money collection schemes, Sebi on Wednesday said it has launched as many as 550 prosecution cases against those collecting public money in such fraudulent manner.

Sebi looks to recover penatlies worth Rs 125 crore

Last Updated: Wednesday, July 24, 2013, 20:06

Armed with greater powers to take on market offenders, Sebi on Wednesday said it can now recover long- pending dues worth about Rs 125 crore that were imposed as penalties on various entities but have not been paid as yet.

RBI starts scrutiny of nearly 3,000 private finance companies

Last Updated: Monday, July 22, 2013, 17:37

The Reserve Bank of India (RBI) has started scrutiny of nearly 3,000 companies which could be carrying out non-banking finance operations without requisite registration, in the wake of concerns about their actual business activities.

Govt mulls ban on ponzi advertisements

Last Updated: Sunday, July 21, 2013, 14:43

Faced with a mushrooming ponzi menace across the country, the government is considering a possible ban on promotion of money-collection schemes promising unrealistic returns.