Leisure, Lifestyle & Wellness
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
 

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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.

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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/

Nifty, Sensex may be headed lower – Monday closing report

Nifty will be under pressure if it closes below 8,330

 

We had mentioned in Friday’s closing report that S&P CNX Nifty will move up as long it closes above 8,380 on Monday. Today after a positive opening the benchmark moved further higher. Today’s upmove at the beginning of the session seemed to show that the gains of past six days would continue. However, after hitting the day’s high the index was pulled lower. Every time it made an effort to revive, it met with further selling. The pessimism of Asian counterparts and the Greek concerns played negatively on the market sentiments.
 
The S&P BSE Sensex opened at 27,978 while Nifty opened at 8,408. Sensex hit a high at 28,064, a high above 28,000 after 18 trading days (including today). Nifty hit a high at 8,446. The indices hit their lows at the end of the session at 27,787 and 8,364. Sensex closed at 27,842 (down 45 points or 0.16%). Nifty closed at 8,378 (down 17 points or 0.20%). NSE recorded a volume of 79.00 crore shares. India VIX rose 2.59% to close at 14.1525.
 
Public sector banks suggested to the government to transfer government's stake in PSBs to a bank investment company. At the two day “Retreat for Banks and Financial Institutions” called “Gyan Sangam” held on 2 January 2015 and 3 January 2015, PSBs also suggested that eventually the government should reduce its stake in PSBs to less than 51%.
 
Ashok Leyland (8.33%) was the top gainer in ‘A’ group on the BSE. The stock hit its 52-week high today. It reported a 48% jump in its total sales at 9,290 units in December 2014 as compared to 6,275 units during the same month of 2013.
 
IRB Infrastructure (8.43%) was the top loser in the ‘A’ group on the BSE, following the news that CBI had conducted raids and searches at the realty developer's around 20 offices in Pune & Mumbai. The CBI is re-investigating complaint of land grab filed by slain RTI activist Satish Shetty against Virendra Mhaiskar, chairman and managing director of the company. The Bombay high court had permitted the CBI to re-investigate Shetty's complaint saying it was "in the interest of justice".
 
Maruti Suzuki (2.62%) was the top gainer in the Sensex 30 pack. The stock hit its 52-week high today. It recently reported 20.8% growth in December 2014 sales to 109,791 units.
 
Dr. Reddy’s Labs (2.19%) and Bharti Airtel (2.10%) were among the top two losers among the Sensex 30 stocks.
 
On Friday US indices closed flat after a strong opening and a sharp selloff during the day. Factory activity in the United States grew at the slowest pace in six months in December 2014, weakened by declines in orders and production. The Institute for Supply Management, a trade group of purchasing managers, said on Friday, 2 January 2015, that its manufacturing index fell to 55.5 in December from 58.7 in November, which was just below a three-year high reached in October.
 
Except for NZSE 50 (0.62%) all the other Asian indices closed in the red. Straits Times (1.26%) was the top loser.
 
In Japan, the final Markit/JMMA Japan Manufacturing Purchasing Managers Index (PMI) came at 52 in December, slightly less than a preliminary reading of 52.1 and unchanged from the final reading in November.
 
European indices were trading lower. US Futures too were trading in the red.
ECB President Mario Draghi said ECB will start quantitative easing. He said policy makers were ready to act if needed to counter deflation, in an interview with German newspaper Handelsblatt published on 2 January 2015. The ECB next meets on 22 January 2015.

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