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Hindustan Times July 22, 2020 Sebi slaps penalties totalling Rs 50 lakh on eight entities The eight entities penalised by Sebi were required to make disclosures about their shareholding data to the company as well as stock exchange but failed to do so. As per Sebi, the entities had filed incorrect information with the company and BSE on multiple instances. Capital markets regulator Sebi has imposed penalties totalling Rs 50 lakh on eight entities for their failure to make proper disclosures regarding their shareholdings in PSIT Infrastructure and Services Ltd. The watchdog’s order came after an investigation conducted by it into the PSIT matter for May 2012 to July 2015 period. Fines ranging from Rs 3 lakh to Rs 9 lakh have been imposed on eight entities. They are Brijdham Dealcom, Compass Distributors, Conquer Barter Pvt Ltd, Economy Sales Pvt Ltd, Mayurpankh Vinco Pvt Ltd, Miracle Tradecom, Narayan Suppliers and Premsagar Vinimay Pvt Ltd, as per the order...

Livemint July 22, 2020 PACL Chit Fund Scam: Sebi asks investors to rectify errors in applications The PACL scam which was found to have illegally collected over ₹49,100 crore over a period of 18 years is considered to be one of the biggest chit-fund scams in India Sebi on Tuesday issued a notice to ask the investors or applicants of Pearls Agrotech Corporation (PACL), with claims between ₹5,000 and ₹7,000 to check the status of their claim applications online and rectify the deficiencies for settlement of the claims. The portal will be operational from August 1, 2020 to October 30, 2020. The PACL scam which was found to have illegally collected over ₹49,100 crore over a period of 18 years is considered to be one of the biggest chit-fund scams in India. The company was started in 1982. PACL and Pearls Golden Forest Limited(PGFL) illegally raised money from the poor on the pretext of sale and development of agriculture land. The Justice (Retd.) R.M. Lodha Com...

The Indian Express 18 June 2020 Written by: Ajay Vir Jakhar Just as all ordinances aren’t reforms, all reforms aren’t the “1991 moment” for agriculture. The ordinances announced recently to facilitate trade in agricultural produce were historically resisted by the bureaucracy and the states. Pent up frustration at repeatedly failing to change the status quo of depressed farmer livelihoods, and the pressure of the PMO seeking instant delivery, has the establishment introducing ordinances rather than bills. Bills would require to be placed in the public domain for comments, consultations would be held with farmers, and states whose powers and revenues were being curtailed would get a hearing. In the hurry to impose ordinances, however, the baby has been thrown out with the bath water, specifically with ‘Farming Produce Trade and Commerce (Promotion & Facilitation) Ordinance 2020.’ Due to the unionisation of middlemen (arhatias) and their financial ...