Beyond Money
A Home for Women & Children
Swadhar works for the development of women and children and has outlived its founder, Meenakshi Apte
 
Swadhar is the brain child of two of Maharashtra’s best-known activists -- Meenakshi Apte and Mrinal Gore. On the advice of super cop Julio Ribeiro, the two formidable women began a series of women-oriented activities at Goregaon (a Mumbai suburb) in 1980. In 1983, they set up a counselling centre that continues to operate even today.
 
After her retirement from the Tata Institute of Social Science (TISS), Meenakshi Apte moved to Pune. In 1995, she started Swadhar as a branch of the Mumbai NGO, with the help of Sulabha Joshi and Suchitra Date. Swadhar (Pune) decided to broaden its work to include children. The NGO was renamed Swadhar IDWC (Institute for Development of Women and Children) to reflect this new role. 
 
Swadhar’s vision is to help and empower women in distress and achieve healthy development of underprivileged children through education, guidance, training and counselling, to ensure a reasonable quality of life. It started by counselling women going through a bad marriage or divorce; this was later expanded to cover all family disputes involving women. It conducts awareness programmes on domestic violence, women’s rights, the need to maintain important documents, health and hygiene, etc, once every month. It has other activities as well. 
 
Girls’ Education Support Programme: Many girls from low-income families are forced to leave school and are married off at the age of 15.  Swadhar supports the education of young girls so that they are not forced to drop out of school. If they are from outside Pune, Swadhar helps them with boarding and lodging in a hostel. Around 250 students are being supported under this programme, with a large contribution from an IT company. 
 
Phulora: This project is being run in Pune and Pimpri-Chinchwad Corporation areas for underprivileged school dropouts and adolescent girls. They are taught vocational courses and given personality development training, through interactive activity, role-playing and essay writing. Swadhar’s effort has reduced school dropout rates and early marriages among girls. Phulora’s success has led to Swadhar getting requests from women to conduct the programme in other towns and villages. So far, Phulora has benefited 107 girls in Pune and over 1,219 in the Pimpri-Chinchwad belt.
 
Mohor is a 24-hour shelter home and educational centre for children of sex workers until they are four years old, after which they are shifted to hostels during the academic year and to Swadhar shelter during their holidays. Around 50 children are provided nutritious food and have their physical needs taken care of, but Swadhar is finding it difficult to raise resources for this effort. 
 
Ray of Hope is a programme designed for children with HIV/AIDs. Around 130 children under the age of 18 years have benefited from this endeavour. These children are provided a protein-rich diet and supplements, while discouraging them from starting ART (anti-retroviral treatment) due to its adverse side-effects. Most children under this programme are either orphans or have a single surviving parent. Children are monitored closely and are provided nutritious food in the hope that their immune system could be strengthened in order to avoid the dreadful disease. 
 
In March 2014, Meenakshi Apte passed away. However, the hard work since 1995 and the support of several corporate houses, foundations as well as grants have created an institution capable of surviving its founders. This excellent work needs all the support it can get in the form of volunteers for programmes and financial help to grow and sustain operations. Donations to Swadhar are eligible for tax exemption under Section 80G of Income-Tax Act.
 

 

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Public Interest Exclusive
How Listed Companies Launder Money

Watch the video at the end of the article to know how unaccounted money is converted into tax-free long term capital gains

 

The Securities and Exchange Board of India (SEBI) has set anti-money laundering guidelines to put in place stronger checks against possible laundering of funds through capital markets. Despite the regulations in place, SEBI recently sought help from various investigative agencies under the finance ministry on alleged money laundering in listed companies. According to reports, the markets regulator had written to the finance ministry, highlighting the method used by certain low-value companies to evade taxes.

 

The quantum of the alleged tax evasion is said to be pegged at Rs20,000 crore.

Moneylife has published several articles in the past on how money launders operate and the need for proper regulations. Read: Low-risk bank customer accounts can be a conduit for money laundering (http://www.moneylife.in/article/38547.html), Football and cricket most susceptible to money laundering (http://www.moneylife.in/article/36919.html ),Why financial institutions should comply with anti-money laundering laws (http://www.moneylife.in/article/33471.html) and more here (http://www.moneylife.in/?imageField.x=0&imageField.y=0&cx=012932029967637413115%3Aroup7yt0ras&cof=FORID%3A9&ie=UTF-8&q=money+laundering)

How exactly does the laundering take place, using the exchange platform to convert black money into white. Here’s how.

Ambareesh Baliga, managing partner, Global Wealth Management, Edelweiss Financial Services, explained this  at a Moneylife Foundation event. He described the modus operandi of money laundering through listed companies. Mr Baliga, who has about 25 years of experience in the stock market, explains how a person reroutes his money through foreign investments in illiquid stocks which are manipulated by operators.

Such manipulative trades involves an entity seeking long-term capital gains exemption by approaching an operator, who finds out an illiquid stock on the exchange platform and gets an allotment of shares done to the entity. Over a one year at least period the operator rigs the stock price up to a pre-determined level. This is when the foreign entity gets in, and gullible investors get in taking the stock higher as the earlier entity gets out. This enables conversion of unaccounted money into tax-free long term capital gains. Watch the video:

 

From Moneylife Foundation programme on 28 February 2014.

 

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COMMENTS

Sharad Jain

2 years ago

please repost the article/writeup unable to read the last few words of each line, thanks

V Rajendran

2 years ago

Wonderful story. A very revealing one. Quite disturbing too. Perhaps the law makers are aware of the happenings.

Gopalakrishnan T V

2 years ago

This round tripping and laundering of money are known to many. How to fix the problem is what Money Life should ponder and act.NPAS are other ways of looting. No one wants to fix it as depositors bear the brunt by taking 4% rate of interest on their savings. In stead of Capital gains tax which is not there if one holds for more than an year the securities, STT should emerge as a tool to fix the problem to a great extent. There should be separate STT for purchases and sales and the rates also should vary on the quantum of Purchases and sales. If frequency increases the rates should be altogether different. There are umpteen ways to take care of the round tripping but as it is rightly observed politicains have a stake and they are the law makers. Chartered Accountants are the brain behind to enable the transacxtions cmfortably.

SuchindranathAiyerS

2 years ago

All successful crime is simplicity itself. But the source of successful crime is usually bad laws. And in making bad laws, there are few who can match India's legislative competence over the decades.

REPLY

rajivahuja

In Reply to SuchindranathAiyerS 2 years ago

I think you are correct in your observations.

avraman

In Reply to rajivahuja 2 years ago

second your opinion and strongly repeat what suchindranthji said...it is bad laws or bad implementation of the good laws ...either one means economic disorder with legal excuse & escape routes for the haves ..

avraman

In Reply to rajivahuja 2 years ago

second your opinion and strongly repeat what suchindranthji said...it is bad laws or bad implementation of the good laws ...either one means economic disorder with legal excuse & escape routes for the haves ..

Suresh Prabhu proposes to set-up SPV to address Mumbai rail issues

After years of neglect, Railway Minister proposes SPV to revamp Mumbai's ailing rail network

 

Following the sudden outburst of protests and violence in the wake of breakdown of services by the otherwise reliable Mumbai Suburban railway network, today, Union Railway Minister Suresh Prabhu has offered some hope to protesters.
 
Mumbai's train network, though old and creaking under the weight of its task, is among the most reliable and most used networks.
 
After years of being a mere cash cow and being neglected, Prabhu today hinted at a first effective step that may soon come about.
 
“We will work with Maharashtra Govt to create separate SPV to address State issues. Discussed with CM. Both Govts will work on it.”
 
If such focussed attention is indeed given to the Mumbai and Maharashtra rail network, many of the ills of the system could be resolved.
 
“Suburban rail network is under severe stress. Long neglected. Drawing up plan to revamp it on top priority. Need time to implement. Huge task” Prabhu tweeted after today's incidents in Diva.

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