Bonds Rally on a Possible Rate cut

The 10-year yield in government security (G-Sec), which sets the tone of the fixed-income...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
UK Cracking down on E-cigarette ads
Several e-cigarette ads banned in Britain while U.S. ads remain unregulated
 
The U.K. is far ahead of the U.S. in regulating e-cigarettes, a rapidly expanding industry in which sales are expected to reach upwards of $2 billion. While the FDA continues to ponder regulations regarding e-cigarettes, regulators in the U.K. have listed a host of restrictions and have already started banning some advertisements.
 
In October 2014, the U.K.’s Committee of Advertising Practice announced new rules that prohibit e-cigarette ads that claim the vaping products are safer or healthier than tobacco products unless the company obtains authorization to make those statements from the government. The regulations also prohibit ads that appeal to youngsters under 18 and ones that encourage non-smokers or non-nicotine users from smoking e-cigarettes.
 
Different story in the U.S.:
But it’s a different story in the U.S., where e-cigarette ads have featured stars such as Jenny McCarthy (pictured below in a previously aired TV commercial for Blu eCigs) and ad spending has skyrocketed to upwards of $20 million.
 
Read Full Story Here
 
Courtesy: truthinadvertising.org
 

User

Who is Zafar Sareshwala, the new Chancellor of Urdu University?
Sareshwala, an avid Modi supporter from Ahmedabad, was banned by SEBI from markets for seven years
 
The Ministry of Human Resource Development has appointed Zafar Sareshwala, chief executive and managing director of Ahmedabad-based Parsoli Corp Ltd, as new Chancellor of Maulana Azad National Urdu University, a Central University established in 1998 to promote and develop the Urdu language. Sareshwala succeeds Syeda Saiyidain Hameed, the former Member of Planning Commission. There are two aspects of Sareshwala, one is his closeness with Prime Minister Narendra Modi and second, his tainted innings in the stock market.
 
Last February, Sareshwala organised the Ummat Business Conclave 2014 to showcase the corporate culture of Muslim business community and help them network with other business communities. Of course, Modi, the then Chief Minister of Gujarat was the chief guest for the Conclave. Today, according to media reports, Sareshwala is one of the closest advisors of Modi for the Muslim community. 
 
Interestingly, in 2002 when the Gujarat riots took place, Sareshwala was a banker living in UK and had organized anti-Modi rallies there. However, a meeting with Modi in 2003 at St James Court in London changed his political ideology and Sareshwala became a staunch supporter of the (then) Gujarat chief minister. Nevertheless, some conservatives from the Muslim community still accuse Sareshwala of being a ‘back stabber’ and ‘sheer opportunist’ for siding with Modi. 
 
Sareshwala, meanwhile had quite a brush with the stock market regulator. The Securities and Exchange Board of India (SEBI) in July 2013 cancelled broker registration of Parsoli Corporation for violations of its regulations. In 2010, Parsoli and its whole time directors Zafar Yunus Sareshwala and Uves Yunus Sareshwala were barred from the capital market by SEBI for seven years, for alleged fraudulent trading activities.
 
However, the order cancelling its registration came on a separate probe that looked into alleged violations of broker norms by Parsoli.
 
"If the applicant is allowed to continue in the market, even after it has been repeatedly found guilty of violating securities laws on more than one occasion, it will seriously prejudice the interest of investors and the safety and integrity of the securities market," Prashant Saran, whole time member of SEBI had said in the order.
 
In 2010, SEBI had passed order against Parsoli and its directors after finding prima facie that the company's promoters had transferred shares to themselves in a fraudulent manner from shareholders.
 
Sareshwala’s Parsoli is touted to have introduced Islamic banking in India. However, it was not an easy ride for Zafar Sareshwala and his entire family, who had been living in Gujarat since over 250 years. 
 
According to a 2006 report from Hindustan Times, for decades, Zafar Sareshwala’s affluent Gujarati Muslim family had distributed lakhs of rupees to the poor in Islam-mandated zaqat donations. “Sareshwala — whose company Parsoli has pioneered Islamic banking in India — lost Rs3.3 crore in the 2002 riots when its employees fled the ambushed building that was catching fire. They left computer terminals on, without being able to square off their positions on the stock market. It was the deadliest blow to the family that had lived for some 250 years in Ahmedabad, and had suffered severe damage in the riots of 1969, 1985 and 1992,” the reports said.
 
According to the report, family and friends suggested that the family should migrate. Sareshwala had to choose between his British resident visa and the stock exchange membership. “It was easy to leave. However, I decided to stay and revive my business. Others just laughed at us,” he told the newspaper.
 
Sareshwala then sold his century-old industrial valve-producing factory and revived his business. So much so that earlier in October 2009, Sareshwala, who also owns Parsoli Motors, a dealership for BMW in Ahmedabad, gifted a X6 Activity Coupe (Xdrive 30d), worth Rs79 lakh to Salman Khan.

User

COMMENTS

dheeraj kaur

2 years ago

zafar zareshwala is fraud,he has not only cheated shareholders of his company (parsoli corporation)which was blacklisted by both BSE and NSE stock exchanges, the order link is here
http://www.sebi.gov.in/cms/sebi_data/att...
But he has also cheated his german partner (BAADER
BETEILIGUNGS GMBH)in his parsoli motors corp.see the order passed by guj high court http://indiankanoon.org/doc/90703766/

dheeraj kaur

2 years ago

fraud zafar sareshwala see the below link which he committed fraud with his partner in parsoli motors http://indiankanoon.org/doc/90703766/

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)