UID/Aadhaar
Aadhaar not required to get subsidised LPG cylinders, says Moily

A clarification on delinking Aadhaar account from disbursal of subsidised LPG cylinders would be issued within a week, the minister told the Lok Sabha

 

Consumers across the country can buy subsidised LPG cylinders without an Aadhaar-linked bank account, the government informed the Lok Sabha on Friday.

 

A clarification on delinking Aadhaar account from disbursal of subsidised LPG cylinders would be issued within a week, Petroleum and Natural Gas Minister Veerappa Moily said during the Question Hour.

 

As far as direct benefit transfer (DBT) is concerned, Cabinet has decided to delink Aadhar account from disbursal of subsidised LPG cylinders. Now, subsidised cylinders can be purchased without Aadhaar account, the minister said.

 

He said there have been some problems in DBT programme, mainly related to banks, which have been given Rs435 per cylinder (for subsidy) which is not enough since the subsidised price of one cylinder has increased to Rs700.

 

He also emphasised that the government has not increased the price of subsidised cylinders for consumers.

 

Under DBT, about 4.86 crore accounts have been made and around 2.06 crore households have received subsidised cylinders.

 

Regarding know your customer (KYC) norms for LPG connections, the minister said the government has already issued clarifications regarding multiple connections and would liberally look into the matter if required.

 

“If there are two separate LPG connections in the same address, it would be allowed if there are separate kitchens or separate households... A declaration has to be made (by the consumer),” he added.

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Looking for legal help and advice? Access Moneylife Foundation’s Legal Resource Centre
For those seeking legal help, Moneylife Foundation’s new initiative—Legal Resource Centre, will provide support to individuals seeking legal guidance. Here’s how the LRC works
 
After receiving several requests for legal guidance, Moneylife Foundation has setup Legal Resource Centre to help those individuals who are lost when it comes to dealing with the complex Indian legal redressal system and are seeking legal help. The LRC will guide them to the right forum and suggest on how to get the best results. We will not draft applications for them or appear for them in any legal forum.
If you are seeking legal guidance, here is a guide to the MLF-LRC:
 
What is LRC?
The LRC’s (Legal Resource Centre’s) main objective will be to provide information, advice and preliminary guidance to a person needing legal help or planning legal action
 
What will the LRC cover?
The LRC will focus on 10 main areas-
  1. Guidance for filing complaints with financial regulators & stock exchanges 
  2. Guidance for filing consumer complaints
  3. Guidance on IT Act and issues that affect life and liberty.
  4. Guidance on filing Public Interest Litigation
  5. Guidance to Whistleblowers
  6. Guidance on filing complaints & consequences in Sexual Harassment cases
  7. Guidance Wills, transmission of assets etc. 
  8. Guidance on filing RTI effectively and handling the appeals process
  9. Property, conveyance, cooperative society related issues, registration, stamp duty etc. 
  10.  Basic legal research of different kinds especially pertaining to new legislation where there is no case laws in India such as Class Action Suits under the new Companies Act
To know more, kindly visit- http://lrc.moneylife.in/home/seek-help/ 
 
 
 
How will the LRC work?
First and foremost, MLF-LRC will not act as lawyers, but as experienced guides and provide skilled support on how you can sort out a legal issue.
 
The LRC will offer its services free of cost to those who seek legal help. However, the LRC may put in place guidelines to prevent members appropriating an unreasonable time and resources, especially if it is at the cost of others.
  1. This FREE helpline is only for members of Moneylife Foundation on personal issues. 
  2. As a member of Moneylife Foundation anywhere in India or abroad, one can access the LRC by sending us a 300-400 word synopsis of the issue/specific concern by email to [email protected]. First priority of the LRC will be to provide initial help through email only. You could also access the website -  lrc.moneylife.in to log in your complaint under ‘Access LRC
  3. Please do not send scanned documents or attachments unless asked for specifically. When asked, please send only the relevant documents or pages that are specifically requested.
  4. If you are based in Mumbai or in a city where LRC has a presence, you can seek an appointment after prior registration and an email synopsis of the issue. Moneylife Foundation will endeavour to fix an appointment with a domain expert on the basis of their schedule and availability. LRC will always strive to maximise the benefits to the largest number of people by giving appointments to people with similar issues at the same time slots. We will not guarantee confidential hearings unless deemed necessary. You cannot demand an appointment with a specific domain expert. 
The FREE help is not available to any company, firm, business, association or organisation, whether for-profit or not-for-profit.
 
For more details about the ‘Terms and conditions’ of the LRC kindly go to: http://lrc.moneylife.in/feature/terms-of-usage/
 
Legal Resources
The LRC has an entire section on law books which were donated by Shirish Shanbhag, retired professor with over 32 years of experience, and Dr SD Israni, who has over 37 years of experience in Corporate, Commercial and Securities Laws.
 
To view our entire list of advisory committee of experts- http://lrc.moneylife.in/feature/expert-panel/ 
 
The LRC has a compilation of pathbreaking RTI judgements meticulously curated by Shailesh Gandhi, former Central Information Commissioner. These are useful references in RTI appeals. An extensive Legal Referencer has been prepared by Sandeep Jalan. The LRC website provides a compilation of links to various website like that of Diehard Indian, a website by Activist Gaurang Damani which has links to all our everyday needs – how to get a birth certificate, death certificate, passports, how to file a consumer complaints and so on.
 
All this can be accessed on the LRC website under LRC Resources: http://lrc.moneylife.in/feature/lrc-resources/ 
 
legal help, legal help in india, Legal guidance, Legal Resource Centre, Moneylife Foundation, legal advice, free legal help

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COMMENTS

sonia

3 years ago

Very good initiative, Moneylife!

uttamkumar dubey

3 years ago

Hope any govt establishes Moneylife as the torchbearer organisation for all financial matters related to public.

Can BJP/CON/AAP commit such an initiative for the ppl of the nation or they want ruined state of affairs of the nation and the public.

thanks,
uttam

Ramakanth Inani

3 years ago

MONEY LIFE deserves accoloades for starting LRC ( Legal resource centre). In fact all leading dailies/ electronic media ( especially in financial sector) should also start columns , in their paper/ channel. Similarly Ministry of Legal affairs & bar councils also take similar initiatives.

SEBI asks Green Ray to windup its investment scheme and refund investor’s money

SEBI has asked Green Ray International and its directors to wind up their existing collective investment schemes-CIS and refund collected money to the investors along with offered returns

 

Market regulator Securities and Exchange Board of India (SEBI) in its order dated 3 February 2014, asked Green Ray International Ltd and its directors to wind up their collective investment schemes (CIS). SEBI also directed the company to refund all the money collected from investors under the CIS along with offered returns and dues of investors within three months.
 

Green Ray International raised Rs45.50 crore as on 31 March 2011, through illegal collection by running a CIS without obtaining a certificate of registration from SEBI.
 

During investigation, SEBI found that, Green Ray International has collected money under six investment plans namely; Real Gold Plan, Ever Green Plan, Marriage Plan, Tycoon Plan, Happy Nation Plan and Green Line Plan. The company was engaged in fund mobilising activity from the public, by floating, sponsoring and launching CIS.
 

SEBI barred Green Ray International, its managing director, Mir Shahiruddin and its directors, Mir Tahiruddin, Ayub Saha and Khalik Saha from collecting money from investors and launch any collective investment schemes under sections 11 and 11B of the Securities and Exchange Board of India Act, 1992 with regulation 65 of the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999.

 

SEBI also restrained the company and its directors from accessing the securities market and prohibited them from buying, selling or dealing in securities market till all the collective investment schemes are wound up by the company and all the money mobilised through such schemes are refunded to its investors with returns which are due to them.

 

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COMMENTS

Bhagywant Daphale

2 years ago

Money life before publishing articles n. Orders should really do some ground check. Do you know how much your this one report damaged the company, will you along with SEBI can take responsibility n pay the public their hard earned money of company comes clean out of it, because by the time company gets positive result from the appeal it would be all over. Then who would pay public???? Don't just write one side story

REPLY

MDT

In Reply to Bhagywant Daphale 2 years ago

Thanks for your comment.

At Moneylife, we warn people that money invested in any company for 'double return' in shortest time or in corporate FDs, is unsecured and not 100% safe. We tell 'investors' to look at credit ratings and only invest in AAA rated companies and not be greedy for 1% or 2% more or fall prey for quick, double money schemes by ponzi or chain money operators.

Any entity, be it a company as you like to call it, or an individual, who collects money from 'investors' with a promise to give extraordinary returns (in any form) needs to obtain proper registration and other permissions from regulators like SEBI and RBI.

Do you know, all MLMs and ponzi schemes work on geometric expansion? For instance one gets ten sponsor to sponsor another ten and so on. The fraudsters call it expanding matrix (!) that gives corresponding kick-backs at various levels. The problem with pyramid schemes is simple math and common sense. At a mere three levels deep, there would be 1,000 people, while at six levels deep there would be 10 lakh people believing that they can make a 'fortune' and 'achieve a dream' by mere selling.

Moneylife Foundation has also been repeatedly writing to the RBI to act against MLM companies, because they cannot possibly transfer profits out of India without permission from the banking regulator. Over the past five of its existence, Moneylife Foundation has conducted over 200 financial literacy seminars. Each of our core literacy modules warns investors against investing in multi-level marketing schemes which offer extraordinary returns linked to the enrollment of more members.

And if you, yourself is not careful about 'investing' your hard earned money, why should anyone be blamed? Have you ever asked, SEBI or RBI or any publishing house before putting your hard earned money in the company to get quick and double returns? Then why blame regulators and media? Remember, media, like Moneylife, is just a messenger, in the sense it has not ordered the company to shut its business, it is the job of regulators, the adjudicating authority.

Hope people like you would be more careful next time while 'investing' your hard earned money for receiving extraordinary return without checks with the regulators.

Thanks again

Regards,
MDT

Bhagywant Daphale

In Reply to MDT 2 years ago

Won't it be better if you do some sort of follow up when you publish some reports. People will be happy if you let everyone know about the current status.

Sucheta Dalal

In Reply to Bhagywant Daphale 2 years ago


I am sure it will be better for you. But this is a free publication brought out by a tiny staff. We do what we can. The rest is up to the investor -- in any case, this is a SEBI press release.

Ignatius

In Reply to Bhagywant Daphale 2 years ago

Hello Boss
You left us in trouble and now the people are harassing the agents. Atleast giv us guidance on what to do. i trusted all ur words after knowing the situation.

Bhagywant Daphale

2 years ago

If SEBI can screwed up the company, can it take responsibility n pay the public if they are so worried about public money?

REPLY

Sucheta Dalal

In Reply to Bhagywant Daphale 2 years ago

You should file a public interest litigation on this issue. I am sure it will benefit the entire investor community, even if it takes a long time to get a judgement.

Chintu Khan

2 years ago

WHAT IS HAPPENING WITH INVESTORS OF GREEN RAY INTERNATIONAL

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