Tedious TDS
The Finance Act, 2014, made an innocuous change—of introducing 2% TDS (tax deduction at source) on life insurance policies which do not qualify for tax-free returns. The impact of this is widespread and, in one year, it has had policyholders waking up to the reality of being hit with taxation, even as the returns are meagre. Many single-premium policies offer pathetic insurance cover which clearly makes it taxable on maturity or surrender. Ironically, these products are sold for investment purposes for customer segments ranging from people in small towns to even HNIs (high net-worth individuals). Raj Pradhan had written the Cover Story about taxation on insurance and pension products in March 2013, to alert readers on the issue which has become even more relevant now. Confusingly, insurers have different opinions about TDS on pension and also about Form 15G/15H.
 
Cut out the noise when investing in stocks, says R Balakrishnan. While analysts and experts continue to revise their forecasts, Bala suggests what you need to really focus on, on page 22.
 
Sucheta, in Crosshairs, writes on the implications of high frequency trading (HFT), as highlighted in the April 2015 report of the senior supervisory group (SSG) of global market regulators. While the market regulator recently issued new guidelines for HFT trading, it may not be an answer to all the issues that people around the world are concerned with.
 
Through cases that come to us, at Moneylife Foundation’s credit helpline, we find that the lending system is completely unforgiving for those who have defaulted. Borrowers are unaware of their credit report or the system of credit bureaus. Many realise that they have been listed as defaulters only when they are refused a credit card or a loan. Sucheta writes about this one-sided system which affects genuine and creditworthy borrowers.
 
On 28th November, Moneylife Foundation will be conducting a credit score camp. We’ll announce the details soon. To know the details, and to register for other events planned this month, visit foundation.moneylife.in

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What PACL investors should do to get their money back
In response to a query on behalf of Moneylife Foundation, SEBI has outlined what PACL investors need to do to get their money refunded following the regulator’s orders against the company 
 
In a path breaking order, market regulator Securities & Exchange Board of India (SEBI) had ordered PACL formerly Pearls Agrotech Corp Ltd, a collective investment scheme to refund a colossal Rs49,100 crore collected from investors over several decades in a land purchase scheme. However, the order has left investors in a panic and unclear about how to get their money back. It is important for investors to know that those who file and record their claims quickly have a better chance of getting their money back. 
 
In response to a Moneylife Foundation request, a deputy general manager (DGM) of SEBI has clarified as follows: 
 
It may please be noted that Hon’ble SAT in its order dated 12 August 2015 had directed PACL to wind up its existing schemes and refund all investors within a period of three months. The said time period will end on 11 November 2015. Recovery procedure can be initiated only after expiry of above period and after attachment of assets.  
 
As regards the freezing of bank accounts of the company, it is understood that the Central Bureau of Investigation (CBI) is conducting an independent inquiry. As per media reports CBI in February 2014 raided PACL premises and seized data and papers relating to money and property of PACL.
 
As far as the suggestion to create an online mechanism for registering PACL investor’s requests is concerned, it may be noted that investors can register their complaints on SCORES platform (http://www.scores.gov.in/Complaint.aspx?flag=n). Since PACL Ltd is an unregistered/ unlisted entity, it does not have a SCORES Login ID due to which the complaints received on SCORES cannot be sent directly to the company electronically. However, such complaints are printed by SEBI and sent to the company for redressal.
 
Further, regional and local offices of SEBI are currently receiving complaints against the company, which are then sent to the entity at its registered address for redressal. The investors can also send their grievances to the nearest SEBI office, the addresses of which are available on the SEBI website.
 
 
On 6 October 2015, Moneylife Foundation had written to the SEBI Chairman as follows: 
 
We congratulate SEBI for its dogged effort to bring various Ponzi schemes to book and for your orders asking PACL to refund depositors’ money in a short and finite timeframe. However, ever since the SEBI order, many depositors are running from pillar to post trying to figure out the process of sending their requests for refund. 
 
We request SEBI to create an online process for registering PACL investor’s requests. Many of the investors seem to be from rural areas like Parbhani, so an alternative way of physically depositing their requests in SEBI offices across the country, and some public awareness in this regard would also be helpful. 
 
Requesting a quick solution from SEBI in this matter, the Foundation also cited several examples from PACL investors seeking refund from the company.

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COMMENTS

Ashfak Ahamad

1 week ago

mera.is.me.3000.hzaar.jma.hi.par.abhi.tak.wapis.nhi.mila.hi..5.saal.ho.gaya.hi

Tanya Fauzdar

2 weeks ago

So as of now, is there any online application for registering refund request?My mother has a quite big amount stuck there...Pls help asap

Sukumar Jamalpure

3 weeks ago

Sir, I have invested Rs. 32000/- in this company and my policy has been matured in April 2017. Kindly let me know how I can get this money back.

bsrawat105

4 weeks ago

I want to now about CBI report, if everything is ok then again start to submit premium. Otherwise please told us how to get money back.

bsrawat105

4 weeks ago

I want to now about CBI report, if everything is ok then again start to submit premium. Otherwise please told us how to get money back.

purushothaman Purushoth

4 weeks ago

i am a investor of PACL company and my expire dates was over two year ago(amount is 250000). still now i am not got the money. when will u give, for that what should be do..So please tell me what is the procedure for refund money. please reply..,

Mohitosh Kr Mandal

1 month ago

The PACL investor will get their money shortly?

REPLY

Mohitosh Kr Mandal

In Reply to Mohitosh Kr Mandal 1 month ago

I am a investor of PACL company i l am a investor of PACL com.Ltd. The exparry date of aggriment for full and final payment is over. When l will get the money ?
And what shall l do now.

Prathima M A

1 month ago

hi... I have also invested closed to 250000 ... I was supposed to get the refund in 2015.. untill now no news about it.. when checked with the executive by name Chnadrappa in Bangalore.. he says.. it will come.. don't know when will It?? Please do let me know what i can do for it.. badly in need of money

Prathima M A

1 month ago

hi... I have also invested closed to 250000 ... I was supposed to get the refund in 2015.. untill now no news about it.. when checked with the executive by name Chnadrappa in Bangalore.. he says.. it will come.. don't know when will It?? Please do let me know what i can do for it.. badly in need of money

kamal kishore goyal

1 month ago

Sir I have invested a sum of Rs.20000/- and the policy is also matured. I did not get any information about my money. So please tell me what is the procedure for refund money.

Saranya Pradeep

1 month ago

Sir actually we paid almost three years.... we did not get any information about our money .... can u please send us wen will we get our money back....

Vijaya Sankar

2 months ago

I and all pacl investors to be received their deposit amount as early as possible. Sebi announce the investors which way to get the amount? Please reply

mangaiyerkarasi

2 months ago





The Ashok, Annexe Building, (Oudh Corridor), 50-B Chanakyapuri , New Delhi-110021

• Introduction

• Login

• Relevant Court Orders

• Comfort Option to Buyers

• Notice of Sale

• Bid Documents

• Contact us

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Contacts

(1) From Justice (Retd.) R.M. Lodha Committee
Mr. Rakesh Kumar Singh Nodal Officer cum Secretary [email protected]
01123724001-5
Address: The Ashok, Annexe Building, (Oudh Corridor), 50-B Chanakyapuri, New Delhi-110021

(2) For UTIITSL (For bidders/ buyers and valuers for property related queries only)
Ms. Naina Kotian Vice President - Properties Bandra Kurla Complex, Mumbai 022-26547600
Ms. Sumitra Prabhu Deputy Vice President Bandra Kurla Complex, Mumbai 022-26547616 / 00

Ms. Archana Barve Assistant Vice President Bandra Kurla Complex, Mumbai 022-26547600
Mr. Jawaharlal Gupta Divisional Manager Northern Regional Office, New Delhi 011-23744314

(3) From C1 India Pvt Ltd.
Address: Phase 2, Gulf Petrochem building, Building No. 301,Gurgaon, Haryana. Pin: 122015
Support Help Desk No: +91-124-4302020 / 21 / 22 / 23 / 24
Contact Person : Mr. Ganesh Patil, Contact Number : +91-9821690968
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Number of visits (since 29/05/2016) : 37625
Average daily hits: 125.42 Last updated on: 18/05/2016 / Last viewed on: 24/03/2017
Best viewed on: Chrome 50.0 / Mozilla Firefox 29.0 / IE-10.0 and above

Copyright © UTI Infrastructure Technology And Services Limited






The Ashok, Annexe Building, (Oudh Corridor), 50-B Chanakyapuri , New Delhi-110021

• Introduction

• Login

• Relevant Court Orders

• Comfort Option to Buyers

• Notice of Sale

• Bid Documents

• Contact us

• For Internal Use

Contacts

(1) From Justice (Retd.) R.M. Lodha Committee
Mr. Rakesh Kumar Singh Nodal Officer cum Secretary [email protected]
01123724001-5
Address: The Ashok, Annexe Building, (Oudh Corridor), 50-B Chanakyapuri, New Delhi-110021

(2) For UTIITSL (For bidders/ buyers and valuers for property related queries only)
Ms. Naina Kotian Vice President - Properties Bandra Kurla Complex, Mumbai 022-26547600
Ms. Sumitra Prabhu Deputy Vice President Bandra Kurla Complex, Mumbai 022-26547616 / 00

Ms. Archana Barve Assistant Vice President Bandra Kurla Complex, Mumbai 022-26547600
Mr. Jawaharlal Gupta Divisional Manager Northern Regional Office, New Delhi 011-23744314

(3) From C1 India Pvt Ltd.
Address: Phase 2, Gulf Petrochem building, Building No. 301,Gurgaon, Haryana. Pin: 122015
Support Help Desk No: +91-124-4302020 / 21 / 22 / 23 / 24
Contact Person : Mr. Ganesh Patil, Contact Number : +91-9821690968
Support Team lead : Mr. Rahul Bhardwaj Contact Number : +91-9560905559
Support Manager : Mr. Kanwarjeet Singh Contact Number : +91-7291981125



Number of visits (since 29/05/2016) : 37625
Average daily hits: 125.42 Last updated on: 18/05/2016 / Last viewed on: 24/03/2017
Best viewed on: Chrome 50.0 / Mozilla Firefox 29.0 / IE-10.0 and above

Copyright © UTI Infrastructure Technology And Services Limited






The Ashok, Annexe Building, (Oudh Corridor), 50-B Chanakyapuri , New Delhi-110021

• Introduction

• Login

• Relevant Court Orders

• Comfort Option to Buyers

• Notice of Sale

• Bid Documents

• Contact us

• For Internal Use

Contacts

(1) From Justice (Retd.) R.M. Lodha Committee
Mr. Rakesh Kumar Singh Nodal Officer cum Secretary [email protected]
01123724001-5
Address: The Ashok, Annexe Building, (Oudh Corridor), 50-B Chanakyapuri, New Delhi-110021

(2) For UTIITSL (For bidders/ buyers and valuers for property related queries only)
Ms. Naina Kotian Vice President - Properties Bandra Kurla Complex, Mumbai 022-26547600
Ms. Sumitra Prabhu Deputy Vice President Bandra Kurla Complex, Mumbai 022-26547616 / 00

Ms. Archana Barve Assistant Vice President Bandra Kurla Complex, Mumbai 022-26547600
Mr. Jawaharlal Gupta Divisional Manager Northern Regional Office, New Delhi 011-23744314

(3) From C1 India Pvt Ltd.
Address: Phase 2, Gulf Petrochem building, Building No. 301,Gurgaon, Haryana. Pin: 122015
Support Help Desk No: +91-124-4302020 / 21 / 22 / 23 / 24
Contact Person : Mr. Ganesh Patil, Contact Number : +91-9821690968
Support Team lead : Mr. Rahul Bhardwaj Contact Number : +91-9560905559
Support Manager : Mr. Kanwarjeet Singh Contact Number : +91-7291981125



Number of visits (since 29/05/2016) : 37625
Average daily hits: 125.42 Last updated on: 18/05/2016 / Last viewed on: 24/03/2017
Best viewed on: Chrome 50.0 / Mozilla Firefox 29.0 / IE-10.0 and above

Copyright © UTI Infrastructure Technology And Services Limited


pls.send pettition mail to- [email protected]

Sudhanshu Sharma

2 months ago

what can i do for complaint of pacl as i will find my money back

nithish kumar

2 months ago

When I get back my money from this fraud company.

Humanistic and Futuristic Approach to Mumbai Coastal Road Project
The 33 km Mumbai Coastal Road must be viewed as providing universally accessible open public space devoid of noises from traffic and other social activities
 
Irrespective of affluence level of people, the desire to make life not just livable but making it safe, comfortable and meaningful has been the pursuit of mankind. Article 21 of Indian Constitution, Right to Life says it so too. This is achieved by economic activities, cultural and social exchanges and all other forms of human interaction. All these generally consume energy. Energy is largely generated by burning Fossil Fuels. Burning Fossil Fuels emit gases that not only pollute surrounding air but emit Green House Gases (GHGes) leading to Global Warming and Climate Change (GW & CC). It is estimated that in about a hundred years, the sea water levels will rise by about a meter.
 
 
Mumbai, a coastal city was largely built, the 72 sq km Island City part that is, by reclamation of mud flats lying between the seven islands. The Worli Sea Face, the Hornby Villard (Haji Ali) and, the Marine Drive are examples of building protection walls for the then existing mean sea levels (MSL), which were thought to be invariant with time, providing additional protection to the reclaimed mud flats. The GW & CC has changed this theory of constancy of MSL. Existing protections will not be able to prevent waters submerging large areas of Mumbai, especially the Island City. Suburban Mumbai too cannot escape but unlike Island City, there is not much reclaimed land vis-à-vis about 360 sq km of Suburban Mumbai.
 
Given that Mumbai is economic hub of India, it cannot be allowed to get eroded by submergence. Protection walls or Levies have to be built from this perspective. But it does not mean that the protection wall has to be very urgently built. Building protection walls opens up opportunity to provide better quality of life to a very large section of residents of Mumbai. Therefore costs of construction should be considered from the perspective of the value that is being protected. By such protection, continuation of sustained growth of economy can be visualized. Construction of such protection could be looked at from the value added by new reclamations.
 
Building the protection wall appears to be of secondary consideration in the Government / Municipal Corporation proposal. The primary objective seems to be providing means to travel speedily up to Kandivli right from the Nariman Point CBD by the Coastal Road. Twelve intermediate locations connectors in this 33 km Coastal Road are to give access to different parts of Mumbai. Further to this, there is the plan to connect this CBD with Uran on the main land to make a series of ring roads in the Mumbai Metropolitan Region. The authorities have erred here by making this as primary reason for constructing the Coastal Road.
 
The four plus four lane Coastal Road will have a carrying capacity of 6,000 Persons per Hour (PPH) in a reasonably packed motorcar density in the peak direction. For sparser density, the throughput will be less and for denser traffic it is likely to increase to 8,000 PPH but the speeds would drop very significantly. Plying public transport on Coastal Road is important but plying in dedicated lanes or as Bus Rapid Transit System or even running a Metro Rail would be an exercise in futility as there would be not adequate people to make it operate at high frequency and economy. Public Transport must be where people are already there and their destinations are conveniently reachable.
 
The Mumbai Suburban Railways carry about 3,60,000 PPH in the peak direction. The current capacity after MUTP II has reached 1,80,000 PPH. If the 75 lakh population is to travel safely and in reasonable comfort, additional 1,80,000 PPH capacity Public Transport is required to be put in place. Metro Rail as envisaged in the Master Plan will provide 72,000 PPH south of Andheri-Ghatkopar and 1,08,000 PPH North of Andheri-Ghatkopar. Going by the time it took to construct the 11 km of Versova-Andheri-Ghatkopar Metro, it should take nearly 100years for the remaining 135 km of the original plan. The modified plan has as 162 km instead of 146 km of original plan. Thus we have 151 km remaining. Even a very optimistic estimate for the remaining 135 km of original plan cannot be less than 50 years. Running these projects concurrently will get Mumbai into such a traffic snarl that other cities will be better to move to. Thus Metro Rail needs to be very meticulously planned and executed. Idea of cost: Rs60,000 crore. (Author’s estimate Rs1,50,000 crore)
 
There will still be a deficit of 72,000 PPH even if we hypothetically assume that the whole Metro Master Plan is in operation today. An important point to note is that current annual fatality rate on Mumbai Suburban Railway System is 3,600 or there about mainly because of super crush load.
 
Answer to this, in absence of any better option in terms of time frame and capacity is operating buses on corridors to collectively give an overall capacity of 1,80,000 PPH. This is possible by emulating Bogota where 45,000 PPHPD corridor is operating over a decade. Mumbai needs 4 x 45,000 or 5 x 36,000 or 6 x 30,000 PPHPD corridors or any combinations such that at a high frequency of 20 seconds, buses would carry 1,80,000 PPH collectively. There could be other routes, the East-West connectivity too. 200 to 250 km of this kind of operation called Bus Rapid Transit System (BRTS) could be easily completed in 5 to 8 years without majorly causing traffic congestion. Idea of cost: Rs 7,000 Cr. (One-twentieth cost of Author’s estimate of 162 km of Metro Rail)
 
Reverting back to the Protection Wall Project, to improve quality of life of residents of Mumbai, sufficient reclamation should be done so as to create considerable public open spaces adjoining the water-body and also provide a row of medium rise buildings (6 storeys) followed by the Coastal Road, which includes NMT Lanes and service lanes. This configuration will keep the noise of moving traffic away from the open Public Space. Such place would be truly enhancing quality of life of so many who can access the place. To make this happen, this open public space must not only have buses plying on the Coastal Road, but the access to these will be also made efficient so as to enable many many people to enjoy the open public spaces. 
 
Issues of displacements of fisher folks can be tackled by modernising the fishing villages, while providing protection against sea water level rise. The traditional methods cannot continue as the land available with fisher folks will in fact begin to shrink and much of their activities will get curtailed with sea water level rise.
 
Mangrove protection is important as fish lay eggs herein and the initial growth of fish takes place in that ecosystem.
 
 
 

In Conclusion:
 
The 33 km Mumbai Coastal Road cannot be viewed as a facility to reduce road congestion in Mumbai.
 
Primarily it must be viewed as providing universally accessible open public space devoid of noises from traffic and other social activities.
 
It must also in parallel, be viewed as providing protection against Sea Level rises due to Global Warming and Climate Changes.
 
To achieve mobility needs of Mumbai, as explained, there seems no option but to provide four to six north-south corridors of BRT and some east-west connectors plus the needed feeder services in the system, making a holistic Bus Rapid Transit System. Providing BRTS does not mean road congestions during peak periods will cease to exist. It simply means that the necessary additional public transport capacities will be made available at the shortest time and lowest costs in comparison to other options. This will facilitate personal motorized vehicles users to take to public transport.
 
Issues of displacements of fisher folks can be tackled by modernizing the fishing villages while providing protection against sea water level rise. The traditional methods cannot continue as the land available with fisher folks will in fact begin to shrink and much of their activities will get curtailed with sea water level rise.
 
Mangrove protection is important as fish lay eggs herein and the initial growth of fish takes place in that ecosystem.
 
Prioritizing Infrastructure Development:
 
1. Plan out Four to Six North-South plus four East-West BRT corridors plus feeder services catering to these and forming a comprehensive System called Bust Rapid Transit System or the BRTS. Fulfilling the needs of Pedestrian and Non-Motorized Vehicles shall be integral to the BRTS. The BRTS Project must be worked for completion in 8 years including feasibility study and execution. The North-South Corridors shall have a capacity of 1,80,000 PPH at least.
 
2. Other transport projects may proceed as they are proceeding currently, however care shall be taken to ensure that finance to BRTS Project shall not get affected due to these transportation projects.
 
3. Plan out the Coastal Road Project keeping the viewpoint of creating protection wall or levies against rise in sea levels due to Global Warming and Climate Change. While doing so, ensure providing large areas as accessible open public spaces, creating a row of medium rise (6 stories) commercially exploitable buildings for residences and commercial use, modernize the facilities for fisher folks and protect mangroves, the breeding waters of fish and marine lives.
 
4. No project shall be given priority over BRTS since BRTS is the only option that can in the shortest period and significantly lowest costs provide the much needed mobility in Mumbai and address the annual fatality figure of 3,600 persons on the currently super crush loaded suburban railway system.
 
(Sudhir Badami, an IIT Bombay graduate in Civil & Structural Engineering is a Transportation Analyst. He has extensively worked in planning and design of Civil and Structural Works including tower building structures, stacks and process columns as well as flexibility analysis of piping systems and challenging erection planning of structures and equipment. He was on Government of Maharashtra’s Steering Committee on BRTS for Mumbai and MMRDA’s Technical Advisory Committee on BRTS for Mumbai.)

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COMMENTS

Binod Bisht

8 months ago

pl info me latest news because there is no any office at roorkee.

Dib

2 years ago

the correct approach on viewing the coastal road. Really wish you take it up with the CM and the people opposing it. It needs to be up and running as soon as possible..

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