Ramdev seeks life terms for food adulterators, fake medicines makers
Yoga guru and ayurveda tycoon Baba Ramdev on Wednesday called for "zero tolerance" to those found guilty of indulging in adulteration of food and manufacturing spurious medicines and demanded they be sentenced to life imprisonment.
 
"This is one of the most heinous forms of crime against the people. Those indulging in it must be given life imprisonment," he told media persons here.
 
Baba Ramdev is in Maharashtra for the International Yoga Day events on June 21 and he will head a programme in Nanded where over 150,000 people are expected to perform yoga along with Chief Minister Devendra Fadnavis.
 
Discussing yoga, exercises, good health and nutrition, he expressed his serious concerns over adulteration of foods and spurious medicines in the country.
 
"I have recently heard that in China, a man was hanged to death for adulteration. I feel we should make a beginning, not with capital punishment, but at least life sentence in jail to such unscrupulous persons. The central and state governments must consider it," Ramdev said emphatically.
 
He said there are many instances of people getting caught doing 'milavat' (adulteration) and manufacturing 'nakli' (spurious) medicines which are harmful to the people and at times, the consequences are fatal.
 
On good health, he said: "Lokmanya Bal Gangadhar Tilak had said 'Swaraj Is My Birthright'. I say, 'Health is my birthright'. I consider good health as important as anything else that is good for the people."
 
He said he was perturbed over the increasing incidents of Indians suffering diseases like diabetes, blood pressure, obesity, stress, etc., and said yoga and ayurveda should be a party of the "journey of life".
 
"This is a matter of grave concern. These (diseases) are all lifestyle-related, so fitness and yoga must be incorporated in lifestyle. We especially need to make children and youth aware of the importance and benefits of yoga and ayurveda," he urged.
 
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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    Senior Citizens Defrauded by Sub-broker
    A Bandra based couple has registered a complaint against two men for allegedly defrauding them of Rs50 lakh. The accused have been booked under Sections 420, 405 and 463 of the Indian Penal Code. 
     
    Mount Mary Road resident - Hassanaly Dossani was introduced to the two brothers Bhaumik and Amit Gada in December of 2016. The former said he was an ex-banker running a firm with his brother that acted as the sub-broker for the Motilal Oswal financial group. He subsequently offered his services as an investment advisor.
     
    Mr Dossani then visited their office in Ghatkopar to verify their claims. He met them a few times and finally decided to take up their offer on March 2017. He then opened a DEMAT account with Motilal Oswal Securities Ltd (MOSL) and transferred shares worth Rs40 lakh into the account. However, before the transfer, they had signed a contract with the brother’s firm, OSR Financial Services that prevented them from selling shares without prior consent from Mr Dossani and his wife.
     
    Mr Dossani said he was given monthly statement of account on MOSL’s letterhead, which was duly stamped and signed. “Not being tech savvy, we never checked the real statement on emails, believing these copies to be authentic.
     
    Besides, we were getting a regular flow of cash into our savings account which we were told were profits from these trades,” said the retired pharmaceutical professional.
     
    In December 2018 the family wanted to liquidate a part of its position in the equity market due to a family emergency and instructed the Gada brothers to do the same. They kept evading the requests from Mr Dossani to liquidate his position and when they were finally confronted by him in January, they informed him that they had sold off shares worth Rs49 lakh without his knowledge or authority. 
     
    It was then that the couple took notice and cross checked all the statements provided to them by the brothers over email. It is then that they realised that the physical copies were forged and numbers on them were manipulated by them.
     
    This is not the first time that the Motilal Oswal Group has been accused of permitting unauthorized trading. In 2006, Wing Commander CR Mohan Raj VM [Retd] lost a significant part of his savings when the Motilal Oswal group sold his shares off without his instructions. 
     
    The Wing Commander subsequently took the case to District Consumer Forum where the Motilal Oswal group produced a bogus power of attorney (POA) to sway the case. However, the Consumer Court ruled in favour of Mr Mohan Raj.
     
    He then lodged a complaint with the SEBI which in 2018 fined the Motilal Oswal group to the tune of Rs2 lakh. 
     
    Mr Dossani now finds himself in a financial fix as his emergency fund has been misappropriated by the Gada brothers who acted in cahoots with the Motilal Oswal Group.
     
    When asked about the case, MOSL replied as follows:
     
    1. Mr Amit Gada is a sub-broker of our company. We were not aware of actions of the sub-broker. However, in the month of February 2019, the sub-broker informed us that client has forcefully got some papers signed from him and he has got NC lodged with police.
     
    Further, client has sent emails to our grievance id in the month of February / March 2019 and we have duly replied to the same.
     
    2. As regards discrepancy, since we are not aware of which specific physical and digital documents you are referring to we are not in a position to comment on the same.
     
    However we would like to inform you that we have duly sent copies of contract notes, ledgers, margin report etc, to the client’s email id, regularly informing client about the trades in her account. Also, we were regularly sending SMS to the client informing about the trades in her account. We have also provided to the client web-back office login facility where the client can view all the details with respect to her account. Further, we have sent hard copies of the ledger to the client.
     
    There is no discrepancy in the documents provided by us to the client.  It is also pertinent to mention here that we have done surveillance calling where the client confirmed that client is aware about all the trades in her account. In addition to this we would also like to inform you that the client for the purpose of trading in her account has transferred shares from her Demat account with another company.
     
    The client has also at multiple times taken payout from her account.
     
    3. Since police has registered an FIR on the complaint of client, we are cooperating with police in the investigation by providing information / documents sought by them
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    COMMENTS

    Sreepathid

    1 month ago

    This is clear cut case of Sub broker offering a nice return and that return came from their original investment and loosing that also.

    Parimal Shah

    2 months ago

    Why do we need sub-brokers?
    India has become a country of idle mans.
    And this breeds malpractice, corruption, and exploitation.

    Suketu Shah

    2 months ago

    All stock brokers in India are bad jokes.We donot need them ,they need us.If they are so intelligent and bright,why do they need our money to invest.Let them sit and home,invest their own money and earn 100% /yr returns as they claim.

    Ramesh Poapt

    2 months ago

    traps everywhere in financial matters!

    Top officials told to travel on trains frequently
    In a bid to get first-hand information from railway passengers, Railway Board Chairman Vinod Kumar Yadav has asked all General Managers and other senior officials to travel by trains frequently.
     
    In a letter written to all the General Managers on June 13, Yadav told them to file reports on the services provided by railways.
     
    His order came in the wake of poor quality of food served in India's first semi high-speed train Vande Bharat Express.
     
    In his letter, Yadav said: "Travelling by trains is an opportunity to gain a first hand insight on the actual conditions in respect of our services.
     
    "This alone can provide us 'moments of truth' with our passengers and customers and equip us with invaluable knowledge to continuously innovate and improve (our) services."
     
    Besides travelling by trains on their official tours, the General Managers, Divisional Rail Managers and unit heads were also told to inspect the condition of coaches and interact with passengers.
     
    "A part of the inspection note of the officers must invariably contain a report on the conditions of such facilities and quality of services on trains involving bio-toilets and catering," he said.
     
    He said he expected a feedback from all senior officers including corrective action taken.
     
    The railways have faced flak over poor quality of food as well as choking bio-toilets.
     
    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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