Citizens' Issues
Former railway official held for Rs. 85 crore cheating
A former railway official has been arrested for duping 350 people of Rs. 85 crore under the garb of trading through National Stock Exchange (NSE) and other financial institutions, police said on Tuesday.
 
Ashok Kumar, 68, a resident of Mehrauli in south Delhi, was arrested on Monday.
 
A case was registered against Kumar on April 10 following the allegation that the directors and other employees of Kassa Finvest Pvt. Ltd., Kassa Holdings & Consultants Pvt. Ltd. and its sister concerns, have committed misappropriation of funds, breach of trust and cheating.
 
It was being done under the garb of having authorisation of financial activities and trading by NSE, SEBI and others.
 
It was found that the accused used to operate through a network of branches in major metropolitan cities of the country and contacted the gullible investors through their executives. 
 
"The investors initially invested small amounts, but kept on increasing their investments on inducement by promise of high returns. It was represented that money of the buyers would be kept as securities and they would be paid Loyalty bonus. 
 
"But they used the money in meeting the official expanses and expansion of their business, in the process making wrongful gains at the cost of investor's money," a police official said.
 
A reference from NSE was also received in which it has been alleged that about 350 complaints of investors valuing around Rs. 85 crores have been received in their office against the alleged companies," the official said.
 
The company used to induce the investors to invest their money, scripts with the alleged company by assuring them that no trading will be done with the amount so invested and the same will be kept in the account of the alleged company as margin money.
 
However, the alleged company sold all the scripts and invested the amount so raised in meeting the official expenses of the company and in the expansion of its business, in the process of gaining personal enrichment for their own vested interests.
 
Kumar, a B-tech, claims to be a gold medalist and having topped the combined engineering services exam conducted by the UPSC. 
 
He joined the Indian Railways in 1960 and worked at senior positions and took retirement in 1995. 

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COMMENTS

Vaibhav Dhoka

3 years ago

In the same manner I was cheated by Kotak sec.Ltd through it franchisee Mateo Cons.Ltd in Pune.On one hand SEBI says unregistered intermediary are not allowed and principal broker is liable for any action of franchisee.franchisee of Pune police says SEBI is liable to take action,at the instance of Kotak official.SEBI never acts.Its MIRSD department IS SHOWPIECE WITH HAND IN GLOVE WITH BROKER.No action.Small investors are not safe in hands of SEBI.

New device converts diesel into household fuel for rural India
Called 'Lanstove', the diesel-powered gadget is claimed to simultaneously provide light (equivalent to that from a 200 watt electric bulb) and enable the cooking of a complete meal for a family of five
 
Diesel, which is normally used in automobiles, buses, trucks and even railway engines and is considered "dirty", has been turned into a clean fuel for cooking and lighting in rural areas courtesy a device developed at the Nimbkar Agricultural Research Institute (NARI), an NGO in Phaltan, Maharashtra.
 
Called "Lanstove", the diesel-powered gadget is claimed to simultaneously provide light (equivalent to that from a 200 watt electric bulb) and enable the cooking of a complete meal for a family of five. Besides it can purify 10 litres of water for drinking.
 
"It is ideal for rural households that do not have electricity," Anil Rajvanshi, an Indian Institute of Technology-Kanpur alumnus and NARI director, told IANS.
 
The Lanstove has been tested for the last two months in five rural huts in western Maharashtra. "It has shown excellent results without producing smoke or smell and provides better light than a hurricane lantern," Rajvanshi added.
 
The carbon monoxide (CO) level from the Lanstove - a measure of combustion efficiency - is less than three parts per million (ppm) compared to 250-400 ppm emitted by regular coal or wood-fired "chulhas" (traditional stoves). "Thus Lanstove is an extremely clean device, equivalent to an LPG (liquefied petroleum gas) stove for cooking," he said.
 
NARI had earlier developed a Lanstove running on kerosene but unavailability of the fuel for the rural poor hampered its growth. "Hence we thought it prudent to use diesel which is available everywhere and accordingly modified the kerosene Lanstove," Rajvanshi said.
 
"Every fuel is dirty and it is the way it is burnt that makes it clean or unclean," Rajvanshi said. "Lanstove's combustion technology allows diesel to burn very cleanly in this device," he said.
 
Lanstove that will cost less than Rs.3,000 ($48) when mass-produced has been so designed that the diesel is stored in a slightly pressurized seven-litre cylinder from where it flows into the combustor and burns very cleanly. This detachable cylinder can be re-filled in diesel pump stations somewhat like getting an LPG cylinder changed.
 
However, for the Lanstove to spread on a large scale in rural areas, an enlightened government policy is needed to make diesel available at a subsidized rate of Rs.30 per litre to poor people through the "Aadhar" card, Rajvanshi said.
 
"With this diesel subsidy, the Lanstove's running cost will be equal to that of subsidized LPG for cooking and subsidized electricity for lighting."
 
NARI estimates that at Rs. 30 per litre the total diesel subsidy bill for 35,000 Indian villages that are not electrified, will come to about Rs. 126 billion - less than one-third of the subsidy given at present for LPG.
 
"With diesel subsidy given to rural poor, around 21 million rural households will immediately benefit with excellent light and clean cooking technology," Rajvanshi said.

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COMMENTS

David Northam

3 years ago

And I am sorry the poor suffer, the injustice of those professing to have need to protect and create betterment for others while increasing their own senses of self importance, stature and wealth at the expense of the well being of the poor

David Northam

3 years ago

here we build power plants and hydro lines to distribute the light. Burning diesel fuel for light and cooking is an in appropiate use of energy and a very short term impractical solution to your real domestic problems> I can not think of how much money is wasted on this and how many people have made their living off the developement and promotion of this product but really shows when a person lives detached from the actual facts of life> Someone should have point out the reasons the product did not exist was because it is not needed. should this continue I can only see a lot of insiders making money(friends of government subsidized industries including the supposed making of this suppose saviour. Ridiculous to allow governments to spend money on waste such as this. Lucid thinking seem avoided from my perspective.

MOHAN

3 years ago

As it is smokeless it can be used in urban households also. I would like to buy one.

MOHAN

3 years ago

As it is smokeless it can be used in urban households also. I would like to buy one.

MOHAN

3 years ago

As it is smokeless it can be used in urban households also. I would like to buy one.

MOHAN

3 years ago

As it is smokeless it can be used in urban households also. I would like to buy one.

MOHAN

3 years ago

As it is smokeless it can be used in urban households also. I would like to buy one.

rajivahuja

3 years ago

Great news. Now please remove subsidy from Kerosene. As it is it been used to adulterate diseal.

Ramesh Seetharaman

3 years ago

m/s NARI we appreciate your invention and send some details about when it will come to common use to use our area people. We are from south of Tamilnadu
Jai Hind
Ramesh
08940229922

S.Sivaram

3 years ago

Great innovation ! Simple understanding of efficient combustion technology has produced a useful gadget. However, I have doubts about its success in the market place. Fuel subsidy is never well directed and is misused. A good example is kerosene where subsidized kerosene ends up adulterating diesel. Subsidized diesel for cooking will be diverted to driving vehicles.In the long run the country has no option but to move out of subsidies for all fuel. For rural energy solutions to be sustainable, it must not depend on Government subsidies. When we depend on Government, nothing really works !

REPLY

Akr

In Reply to S.Sivaram 3 years ago

Kerosene subsidy did not work because it was meant only for poor people. Diesel is for everybody. With UID card they will get it at subsidised price. Also the amount each household needs is small so somebody will have to develop an extremely efficient system to collect all these small amounts to use in automobiles.

Ramesh Kudur

3 years ago

a good invention for the villlage people. Even it can be introduced
in Urban and Rural alreas, where
the govt. can reduce the burdon of
giving subsidies.

Silloo Marker

3 years ago

Very interesting, really deserves support. Is this new gadget, Lanstove, available. Even the urban poor could benefit from it.

Arunadhathi Veludandi

3 years ago

I think it is very Innovative product & useful who bellowed poverty level. where there is no power. it is must.

My query is, How many hrs. it can produce power per litre / disel. with combination of power and cooking how much required more diesel per hr.

thanks
sudheer

B. Yerram Raju

3 years ago

We have solar stoves and now the latest innovation - diesel stoves. These have to become commercially viable. The innovator deserves all the praise and support but the next level of innovation should be on how to reduce the cost to the barest minimum. I suspect that this government would be charry of supporting subsidy-oriented instrument. Mass production cost has to be brought down. My hearty congratulations for this innovation from NARI.

REPLY

s.ganguly

In Reply to B. Yerram Raju 3 years ago

could you pl clarify what is meant
by solar stove. Probably you mean
solar parabolic mirror where high
temp .is created at the focal point of the mirror utilises for
cooking.
S.GANGULY

Narendra Doshi

3 years ago

Excellent. Needs proper & timely support from the Govt.

Go to special court for bail, SC to Malegaon blast accused
The Supreme Court on Wednesday asked Malegaon bomb blast accused Shrikant Purohit, Pragya Singh Thakur and other accused to approach the special court holding trial of the case for seeking bail.
 
The apex court bench headed by Justice F.M.I. Kalifulla said there was no material connecting Malegaon accused with Parbhani and Jalna bomb blast cases, but said that there is material connecting Rakesh D. with Parbhani and Jalna blast.
 
Directing the accused to approach the trial court for bail, the court said that the same would be held expeditiously and decided in one months time.

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