Citizens' Issues
CBI arrests Corporate Affairs Ministry official in graft case
The CBI on Monday said that it had arrested BK Bansal, director genral of the Ministry of Corporate Affairs, who was dealing with matters related to alleged violations by a Mumbai-based pharmaceutical company, on charges of bribery.
 
Bansal, who was detained by sleuths of the Central Bureau of Investigation (CBI) on Saturday while allegedly receiving the second lot of the bribe amount, was arrested on Sunday, said an official.
 
CBI spokesperson Devpreet Singh told IANS that "Bansal was arrested for receiving a bribe of Rs nine lakh for extending favours to a corporate firm. The money was being given outside a Delhi hotel".
 
Along with Bansal, a middleman named Vishwadeep Bansal, who worked as the distributor for Elder Pharmaceuticals, was also arrested by the investigating agency, the officer said. 
 
A case was also registered against the company's chief operating officer, Anuj Saxena, who allegedly sought the assistance of Vishwadeep Bansal for negotiations.
 
The officer further said that the Corporate Affairs DG was dealing with matters related to alleged violations committed by Elder Pharmaceuticals. 
 
The alleged violations were detected during an inspection by the Regional Director of Western Region (Mumbai) of the Ministry of Corporate Affairs.
 
"Bansal sat on the ministry report and started negotiating with the company and demanded Rs 50 lakh as bribe for not recommending SFIO (Serious Fraud Investigation Office) investigation," Singh said, adding, "The deal was stuck at Rs 20 lakh. First installment of Rs 11 lakh was already paid and when the second installment was being paid he was trapped and arrested."
 
On the company's alleged violations, Singh said: "Elder Pharmaceuticals had floated debantures and fixed deposits under some clause of Companies Act. In that they collected more than Rs 176 crore from over 4,000 investors and later they didn't pay the interest and siphoned off the money to invest in some other companies they floated." 
 
The company was siphoning money to some other companies abroad, a senior officer said.
 
An agency official, requesting anonymity, said they siphoned money to some Dubai-based companies and were also acquiring a company in Bulgaria. 
 
The CBI investigation also revealed that the ministry official has 20 properties in Haryana's Sirsa, Gurgaon, Faridabad as well as Delhi. All the properties were bought in the last two years and most of them were on his name along with his wife's and son's name.
 
On Saturday, the CBI said Rs 54 lakh were recovered during searches at different locations in connection with the case.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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Online recruitments rise 17%
The latest Monster Employment Index (MEI) showed the online recruitment activities saw a 17% growth over last year, a top company official said on Monday.
 
"The overall growth rate, even though lower than the past months, has continued to chart a double digit growth with certain occupation groups like healthcare witnessing a steep year-on-year growth of 41%," said Monster.com's Managing Director (APAC & Middle-East) Sanjay Modi. 
 
With the FDI liberalisation and the cabinet reshuffle, optimism around recovery of the Indian job market can be restored, he said.
 
The Education sector has been on the centre stage after the slew of initiatives announced by the government during the Union Budget 2016 to improve the state of the sector, the company said in a statement. 
 
This long term view of the education sector witnessed a 65% year-on-year growth in online hiring activities of this sector.
 
According to the index, there has been a significant slowdown in IT at a 40% growth, 22 points lower than in May 2016. This could be attributed to the increasing focus on automation, a statement said.
 
"This decline could be as a result of the worldwide flat IT spending." 
 
Despite the impetus on 'Make in India', the production and manufacturing sector is down by 14% registered a steepest month-on-month decline among all monitored sectors.
 
With a 10% progress, banking/ financial services, insurance continued to grow at a significantly moderated pace, it said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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Legendary singer Mubarak Begum Shaikh dead at 80
Legendary Bollywood playgback singer and ghazal maestro Mubarak Begum Shaikh passed away after prolonged illness at her residence late Monday night, a family member said.
 
Known simply as 'Mubarak Begum', the Rajasthan-born singer was a widow and breathed her last at 80.
 
She is survived by her son Hussain, daughter-in-law Zarina and granddaughter Sana with whom she was living for many years.
 
"She breathed her last around 10 p.m. on Monday night at her Jogeshwari home. She had been ailing and hospitalised frequently since over a year with various health problems," her daughter-in-law Zarina Shaikh said on Tuesday.
 
Her funeral will be held on Tuesday around 11 a.m. at the Oshiwara Muslim Kabrastan, Zarina added.
 
Born in Sujangarh, with proficiency in both Hindi and Urdu, Mubarak Begum launched her career with the All India Radio (AIR) with singing programmes and light musical recitals.
 
She moved to Mumbai 70 years ago and sang her first playback song in 1949 for the film "Aaiye" for which the music was composed by the late music director Nashad.
 
That was the launch of a notable singing career spanning over 110 films over four decades till the early 1980s.
 
Besides playback singing, she used to give regular stage performance and musical concerts.
 
Among her most memorable numbers were "Kabhi tanhaiyon me, hamari yaad ayegi" (Mahari Yaad Aayegi-1961); "Mujhko apne gala laga lo, ai mere hamrahi" (Hamrahi - 1963); "Neend udd jaye teri, chainse sone wale" (Juaari - 1968); "Wo na aayegi palat ke" (Devdas - 1955); "Wada humse kiya, dil kisiko diya" (Saraswatichandra - 1968).
 
Over the years, Mubarak Begum was beset with financial difficulties and her family had to appeal for monetary help to take care of her medical bills.
 
A few people, including Bharat Ratna Lata Mangeshkar and Bollywood superstar Salman Khan helped her out in times of dire need, while recently Education Minister Vinod Tawde sanctioned her hospitalisation expenses.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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