WB's textile minister Shyamapada Mukherjee had allegedly sold his shares in a cement company to Saradha group chief Sudipto Sen
The Special Crime Branch of Central Bureau of Investigation (CBI) on Friday interrogated West Bengal's Textiles Minister Shyamapada Mukherjee and Trinamool Congress's Rajya Sabha MP Srinjoy Bose in connection with the Saradha ponzi scam.
Mukherjee and Bose arrived at the CBI office in Kolkata in the morning following summons served on them to appear before the agency sleuths.
State Transport Minister Madan Mitra, who was also asked to appear before CBI in connection with the scam, was admitted to state-run SSKM Hospital Thursday after a brief stay at a private clinic in the city.
Mukherjee had allegedly sold his shares in a cement company to Saradha group chief Sudipto Sen, whose has been chargesheeted by the CBI.
The CBI sleuths had found some discrepancy in the share transaction for which the minister had been asked to appear before the agency for clarification.
Bose, who owns a Bengali daily, had entered into a business transaction with Sen.
"I have been asked to depose as a witness. I will co-operate with the agency as a responsible citizen and no wrong has been committed on my part," he told reporters while entering CBI office.
CBI had also summoned former Trinamool MP Somen Mitra to appear before the sleuths for questioning. Mitra has now rejoined Congress.
FTIL founder-promoter Jignesh Shah would no longer hold any executive or managerial position the company
Jignesh Shah, the promoter of Financial Technologies (India) Ltd (FTIL) has stepped down as managing director and chief executive of the company. Shah would be replaced by Prashant Desai, who was working as president in FTIL's investor relations and merger and acquisition division.
FTIL, in a regulatory filing said, its Board has invited Shah to be its chairman-emeritus and mentor. Shah will no longer hold any executive or managerial position the company, it added.
In addition, Dewang Neralla, another founding member, and Manjay Shah will also exit from the FTIL board and would head group companies. Neralla will become MD and CEO of Atom Technologies and Manjay Shah will lead Tickerplant, the filing said.
FTIL said, it expanded its board by including Jigish Sonagra and Rajendra Mehta as executive directors and Nisha Dutt, Sunil Shah and Miten Mehta as new independent, non-executive directors.
The re-constituted board of 12 members will have five non-executive and independent directors, four executive directors and three non-executive directors.
The PIL seeks to quash recent circulars by RBI regulating the number of free ATM transactions in six metros from 1st November
The Madras High Court has issued notices to Reserve Bank of India (RBI) and Indian Banks' Association (IBA) over the recent limitations on automatic teller machine (ATM) transactions.
Hearing a public interest litigation (PIL), a division bench comprising Justice V Dhanapalan and Justice VM Velumani ordered notice to RBI's Principal Chief General Manager and the Chief Executive of the IBA returnable within three weeks.
The PIL filed by Tamizharasan, an advocate seeks to quash the recent circulars by the central bank regulating the number of free ATM transactions in six metros from 1st November.
In his petition, Tamizharasan, submitted that at a time when the customers started using 1.60 lakh ATMs across the country, leading to drop in the crowd in bank branches, RBI had issued the circular based on representation from a few banks without considering the benefit for the public at large.
The change, as per circular issued by RBI on 14 August 2014 (with clarifications on 10 October 2014), would limit the total free transactions, including non-financial, at other bank ATMs to three from the existing five. However, if the transactions were carried out in places other than the six metros, the number of free transactions would continue to be five.
By passing the above circulars, the RBI had taken a stand in support of select banks. The rationale behind installing more ATMs was to help the common man, the petitioner said.
Besides ensuring better and quality service, the banks would also immensely benefit as their service is availed by the customers and flow of money is healthy.
The circulars affected professionals, disabled persons, destitute and elderly people. It would also affect the banks' deposits as the customers would withdraw more money in limited transactions through ATMs, Tamizharasan contended.
"As we lived in a fast paced society with increasing mobility and unexpected demands, the banks should help the customers. The circulars were a regressive step and need to be quashed," he submitted.
The RBI's new guidelines are applicable for bank customers in six metros of Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore.