SEBI warns investors on fraudulent fund collections; issues list of 193 companies
Some unlisted companies are luring retail investors by issuing securities including NPS, NCDs in the garb of private placement, warns SEBI while issuing a list of 193 such entities
 
Market regulator Securities and Exchange Board of India (SEBI), while warning investors about investing money in dubious investment schemes has issued a list of 193 companies, including Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd that are fraudulently raising money from public.
 
In a release, SEBI said it has taken action against 193 such entities for issuance of securities in the form of non-convertible and convertible preference shares (NPS-CPS), non-convertible and convertible debentures (NCDs-CDs) and equity shares to public, without complying with the prescribed provisions of law. In 2015 itself, SEBI said it has passed orders against 123 companies in such cases.
 
The companies against which action has been taken include Togo Retail Marketing, Mumbai-based Shah Group of Builders, Aspen Nirman India, Megasys Healthcare, Siyaram Development and Construction, Matribhumi Projects and Goldmine Agro. Majority of these companies are from West Bengal followed by Madhya Pradesh. 
 
Moneylife has been constantly warning investors about not investing in such fraudulent companies. Some of the companies on which Moneylife wrote include, Pailan Agro India Ltd, StockGuru India-SGI Research & Analysis Ltd, and Ramel Industries Ltd.
 

Here is the list of companies, which have violated SEBI regulations…

 

Order passed in respect of Deemed public issues  U/s 67 of the Companies Act, 1956

 
Sr. No. Name of the Entity Location of the Entity Date of Order
1 Kunnamkulam Paper Mills Ltd Kerala 10.04.2003
2 Sahara India Real Estate Corporation Ltd Uttar Pradesh 23.06.2011
3 Sahara Housing Investment Corporation Ltd Maharashtra 23.06.2011
4 SGI Research & Analysis Ltd Delhi 11.01.2013
5 Basil International Ltd Delhi 06.02.2015
6 Rhine & Raavi Credits and Holdings Limited Delhi 27.03.2015
7 Alchemist Holding Limited Delhi 20.09.2013
8 Vibgyor Allied Infrastructure Ltd West Bengal 20.02.2014
9 Kolkata Weir Industries Ltd West Bengal 30.04.2014
10 Ramel Industries Ltd West Bengal 15.05.2014
11 Aspen Projects India Limited West Bengal 05.06.2014
12 Golden Life Agro India Limited West Bengal 07.01.2015
13 Greater Kolkata Infrastructure Limited West Bengal 06.02.2015
14 GSHP Realtech Limited West Bengal 18.03.2015
15 Promotech Infratech Limited West Bengal 05.03.2015
16 Mega Mould India Limited West Bengal 05.03.2015
17 Seashore Securities Ltd Odisha 23.07.2014
18 Icore-E-services Ltd West Bengal 25.07.2014
19 PAFL Industries Limited West Bengal 31.07.2014
20 Sunplant Constructions Limited West Bengal 24.07.2014
21 Ramel Real Estate Infrastructure Ltd West Bengal 06.08.2014
22 MBK Business Development (India) Limited West Bengal 07.08.2014
23 GreenTouch Projects Limited West Bengal 07.08.2014
24 Falkon Industries India Limited West Bengal 08.08.2014
25 Ravi Kiran Realty India Limited West Bengal 08.08.2014
26 Multi-Purpose Bios India Limited West Bengal 14.08.2014
27 Progress Cultivation Limited West Bengal 14.08.2014
28 Pinnacle Ventures India Limited West Bengal 24.07.2015
29 Magnox Indraprojects Limited West Bengal 22.08.2014
30 Amrit Projects (N.E) Limited Assam 22.08.2014
31 Bharat Krishi Samridhi Industries Limited West Bengal 05.09.2014
32 Amrit Projects Limited West Bengal 09.09.2014
33 Rising Agrotech Limited West Bengal 09.09.2014
34 Purusattam Infotech Industries Limited West Bengal 09.09.2014
35 SEBA Real Estate Limited Assam 10.09.2014
36 Torsa Agro Projects Limited West Bengal 12.09.2014
37 Wierd Industries Limited West Bengal 15.09.2014
38 Weird Infrastructure Corporation Limited Uttar Pradesh 24.09.2014
39 Life Care Real Developers Limited New Delhi 29.09.2014
40 Vamshi Chemicals Limited New Delhi 30.10.2014
41 Life Care Infra Tech Limited Uttar Pradesh 03.11.2014
42 Regenix Drugs Limited Tamilnadu 10.11.2014
43 Real Tulip India Limited Madhya Pradesh 11.11.2014
44 Newland Agro Industries Limited West Bengal 20.11.2014
45 Sunheaven Agro India Limited West Bengal 20.11.2014
46 Micro Leasing and funding Ltd Bhubaneshwar 21.11.2014
47 Angel Rural Development Limited Madhya Pradesh 21.11.2014
48 Prism Infracon Limited West Bengal 24.11.2014
49 NVD Solar Limited West Bengal 27.11.2014
50 Sampriti Projects Limited West Bengal 28.11.2014
51 Vista Management Services Limited Odisha 01.12.2014
52 Kolkata Aryan Food Industries Limited West Bengal 01.12.2014
53 Federal Agro Commercial Limited Odisha 01.12.2014
54 Waris Agrotech (India) Limited West Bengal 01.12.2014
55 Swarnabhumi Developers Limited West Bengal 02.12.2014
56 Bharatiya Real Estate Development Ltd West Bengal 02.12.2014
57 SLB Invest (India) Limited Odisha 03.12.2014
58 Orchid Cultivation Projects India Limited West Bengal 03.12.2014
59 Aditya Global Industries Limited West Bengal 03.12.2014
60 Greenworld Agro Industries Limited (earlier known as Bangadisha Projects Limited) West Bengal 04.12.2014
61 Mass Infra Realty Limited West Bengal 04.12.2014
62 Alchemist Capital Limited (formerly known as Toubro Holdings Limited) Chandigarh 08.12.2014
63 Midas Touch Assets & Securities Limited Odisha 09.12.2014
64 Yash Dream Real Estate Ltd. Chhattisgarh 16.12.2014
65 Adorable Agrotech Ltd. West Bengal 15.12.2014
66 Mondal Constructions Company Limited West Bengal 15.12.2014
67 Option One Industries Ltd Madhya Pradesh 16.12.2014
68 Just Reliable Projects India Ltd West Bengal 16.12.2014
69 Vaibhav Pariwar India Projects Limited West Bengal 29.12.2014
70 Suraksha Agrotech Industries Limited West Bengal 29.12.2014
71 Silicon Projects Limited West Bengal 06.01.2015
72 Infinity Realcon Limited West Bengal 07.01.2015
73 Dynamic Asset Management Limited Odisha 09.01.2015
74 Micro Finance Ltd Odisha 14.01.2015
75 MPA Agro - Animals Projects Ltd West Bengal 21.01.2015
76 Megasys Medi Life Ltd West Bengal 28.01.2015
77 Chakra Infrastructure Limited West Bengal 29.01.2015
78 Krutibibha Corporation Limited Odisha 29.01.2015
79 Vikdas Industries Ltd. West Bengal 29.01.2015
80 Prayas Projects India Limited West Bengal 30.01.2015
81 Amazon Agro Products Limited West Bengal 30.01.2015
82 Sarada Pleasure and Adventure Limited Bihar 02.02.2015
83 Hooghly Agrotech Limited West Bengal 11.02.2015
84 Sukhchain Hire Purchase Limited Madhya Pradesh 11.02.2015
85 Adamant Infrastructure Ltd Madhya Pradesh 11.02.2015
86 Suvidha Land Developers India Ltd Madhya Pradesh 12.02.2015
87 ATM Agro Industries India Limited West Bengal 12.02.2015
88 ATM Agro Projects India Limited West Bengal 12.02.2015
89 AM Fund Managers Limited Odisha 20.02.2015
90 Rightmax Technotrade International Limited Karnataka 20.02.2015
91 GBC Enterprise Limited West Bengal 20.02.2015
92 Nirmal Infrahome Corporation Ltd Chhattisgarh 20.02.2015
93 Dreamland Industries Ltd West Bengal 24.02.2015
94 Tribhuvan Agro projects Ltd West Bengal 24.02.2015
95 Target People Social Security Scheme Micro Finance Ltd Tamil Nadu 04.03.2015
96 Fishermen Development Micro Finance Ltd. Tamil Nadu 04.03.2015
97 ERIL Mutual Benefit India Limited Jharkhand 04.03.2015
98 Asoka Life Science Limited West Bengal 11.03.2015
99 Golden Heaven Agro Project India Limited West Bengal 12.03.2015
100 Maxbe Green Provision Limited West Bengal 13.03.2015
101 Jeevan Suraksha Real Estate Limited West Bengal 13.03.2015
102 Real Sunshine Corp Limited and its Directors Madhya Pradesh 13.03.2015
103 Rista Fisheries & Infrastructure Limited West Bengal 16.03.2015
104 Cell Industries Limited West Bengal 17.03.2015
105 Astha Green Energy Ventures India Ltd. Telangana 17.03.2015
106 Sunshine Hi-Tech Infracon Ltd. Gujarat 17.03.2015
107 URO Hygeinic Goods Limited West Bengal 19.03.2015
108 URO Infotech Limited West Bengal 19.03.2015
109 URO Life care Limited West Bengal 19.03.2015
110 URO Walkers Limited West Bengal 19.03.2015
111 URO Infra Realty India Limited West Bengal 19.03.2015
112 Adarsh Wealth Ventures Limited Odisha 19.03.2015
113 Astha Techno Realty India Limited West Bengal 19.03.2015
114 MARS Agrofarm Developers Limited West Bengal 19.03.2015
115 Goldmine Food Products Limited West Bengal 19.03.2015
116 SCL Steel Corporation Limited Madhya Pradesh 19.03.2015
117 Infocare Infra Limited West Bengal 19.03.2015
118 Real Agri Industries & Services Limited West Bengal 20.03.2015
119 Hum Projects Limited West Bengal 20.03.2015
120 Real Vision International Limited Odisha 20.03.2015
121 Tresty Securities Ltd Odisha 20.03.2015
122 Everlight Realcon Infrastructure Ltd Jharkhand 20.03.2015
123 Shivalik Cotex Ltd Delhi 27.03.2015
124 Green India Infra Projects Odisha 27.03.2015
125 Equinox Infratech Limited Madhya Pradesh 30.03.2015
126 Idol India Infrastructures Limited Madhya Pradesh 19.05.2014
127 Morningstar Ventures Limited West Bengal 30.03.2015
128 Affiance Industries Limited West Bengal 31.03.2015
129 I-Nova Solutions Limited West Bengal 31.03.2015
130 Polaris Agro Industries Limited West Bengal 01.04.2015
131 Sunshine Infrabuild Corporation Ltd Delhi 01.04.2015
132 Mangalam Agro Products Limited West Bengal 06.04.2015
133 Pious Agro Industries Limited West Bengal 17.04.2015
134 Fantasy Infraventure & Agrimart Limited Uttar Pradesh 30.03.2015
135 Angela Agrotech Limited West Bengal 21.04.2015
136 Mount Vision Industries India Ltd Madhya Pradesh 22.04.2015
137 Sankalp Projects Limited West Bengal 24.04.2015
138 Nixcil Pharmaceuticals Specialities Limited Uttar Pradesh 24.04.2015
139 Phenix Properties Limited Assam 24.04.2015
140 Sunplant Forgings Limited West Bengal 29.04.2015
141 Great Overseas Commodeal Limited West Bengal 06.05.2015
142 Bishal Horticulture & Animal Projects Limited West Bengal 06.05.2015
143 Bishal Distillers Limited West Bengal 06.05.2015
144 Bishal Agri–Bio Industries Limited West Bengal 06.05.2015
145 Bishal Abasan India Limited West Bengal 06.05.2015
146 Suraksha Industries India Limited Bihar 07.05.2015
147 Nava Diganta Capital Services Limited Odisha 07.05.2015
148 Waris Healthcare Limited West Bengal 07.05.2015
149 Subha Commercial Services Limited Tripura 08.05.2015
150 MRS Agrotech India Limited Madhya Pradesh 08.05.2015
151 RBX Land Developers India Limited Madhya Pradesh 12.05.2015
152 Gulshan Nirman India Limited Chhattisgarh 12.05.2015
153 Wasankar Wealth Management Limited Maharashtra 18.05.2015
154 Verinder Finance Ltd Jammu and Kashmir 20.5.2015
155 Amazan Capital Limited West Bengal 25.05.2015/ 29.05.2015
156 Dolphin Universal Rural Development Limited Madhya Pradesh 27.05.2015
157 Cemendia Infrastructures Limited Madhya Pradesh 29.05.2015
158 Sun-Plant Business Limited West Bengal 03.06.2015
159 Neesa Technologies Limited Gujarat 03.06.2015
160 ASSR Agro India Limited West Bengal 04.06.2015
161 STPL Infrastructures Limited Madhya Pradesh 05.06.2015
162 AVM Real Estate & Allied Limited Chhattisgarh 05.06.2015
163 Polaris Realtors IndiaLimited Madhya Pradesh 15.06.2015
164 Bhabiswajyoti Infrastructure India Limited Madhya Pradesh 17.06.2015
166 Gitanjali Udyog Limited West Bengal 17.06.2015
167 Cell Realcon Corporation Limited Madhya Pradesh 17.06.2015
168 Eris Energy Limited Madhya Pradesh 18.06.2015
170 Greenbang Agro Limited West Bengal 18.06.2015
171 Goldmine Agro Limited West Bengal 19.06.2015
172 Goldmine Industries Limited Madhya Pradesh 22.06.2015
173 Omisha Agri Industries (India) Limited Madhya Pradesh 22.06.2015
174 Waris Finance and Investment Limited West Bengal 23.06.2015
175 Jugantor Realty Limited West Bengal 23.06.2015
176 Matribhumi Projects (I) Limited West Bengal 23.06.2015
177 Annex Infrastructure India Limited West Bengal 24.06.2015
178 Active Rural Development India Limited Madhya Pradesh 25.06.2015
179 United Medicine and Surgical Industries Limited West Bengal 25.06.2015
180 Angel Allied India Limited Punjab 29.06.2015
181 Life Care Infrastructures India Limited Madhya Pradesh 29.06.2015
182 Vishwamitra International Infra Ltd Madhya Pradesh 30.06.2015
183 Shah Group Builders Ltd Maharashtra 01.07.2015
184 Megasys Healthcare Limited Madhya Pradesh 02.07.2015
185 Aspen Nirman India Limited Madhya Pradesh 15.07.2015
186 Siyaram Development and Construction Limited Karnataka 17.07.2015
187 Swasata Steel Industries Limited West Bengal 17.07.2015
188 Madurai Rural Development Transformation India Limited Tamilnadu 17.07.2015
190 Madurai Rural Development Benefit Fund (India) Limited   Tamilnadu 17.07.2015
191 Togo Retail Marketing Limited Delhi 22.07.2015
192 Pailan Park Development Authority Limited West Bengal 27.07.2015
193 Pailan Agro India Ltd Jharkhand 27.07.2015

 

SEBI said that some unlisted companies are luring retail investors by issuing  securities  including non-convertible and convertible debentures, non-convertible and convertible preference  shares/ equity shares in the garb of private placement,  without  complying with the provisions of Companies Act, 1956 read  with  the Companies Act, 2013, SEBI (Issue and Listing of  Debt Securities), Regulations, 2008, SEBI (Issue and Listing of  Non-Convertible  Redeemable Preference Shares), Regulations, 2013 and SEBI (Issue of capital and Disclosure Requirements) Regulations, 2009. Any offer of securities made to 50 or more persons has to be construed as a “Public Offer” under the provisions of Companies Act, 1956. 
 
Under Companies Act, 2013, “Private Placement” shall be made only to such persons whose names are recorded by the company prior to the invitation to subscribe.  Further, in case of private placements, the company shall not release any public advertisements or utilise any media, marketing or distribution channels or agents to inform the public at large about such an offer, emphasises the release from SEBI.
 

User

COMMENTS

bishal korha

4 weeks ago

I am very much worried about my hard earned money Rs. 1,80,000/- which is invested in Weird Infrastructures Corp. Limited. I think the company has cheated the common men like me. How can I get back my hard earned with appropriate interest. Is SEBI capable enough to help us.

BIPIN SHARMA

9 months ago

मै बिपिन कुमार शर्मा MATRIBHUMI MANUFACTURING & MARKETING (I) LTD , MATRIBHUMI MUTUAL BENEFIT LTD ,MATRIBHUMI WELFARE SOCIETY के सम्बन्ध में सरकारी बिभाग को जानकारी देना चाहता हूँ की ये नॉन बैंकिंग कंपनी एक प्लानिंग के तहत बनाया गया था और निबेसकों से 21 करोड़ गबन करके बैठी है लकिन डर से निबेस्कों ने केसनहीं किया कुओंकी ये कंपनी वाले पैसे के दम पर सबको खरीद चुके है क्या करूँ मेरा 2 LAKH रुपया है

Om Prakash Patidar

10 months ago

Sir apki is list me BNP India limited company Ka naam hi Nahi ha
Jisne lakho garibo Ka paisa 5 Saal me 2 guna Karne Ka lalach Dakar company sabhi niveshako Ka paisa lakar bhag gayi ha is company ke khilaf BHI karyavahi kare or niveshako Ka paisa dilvaye

Deepankar

10 months ago

There are many Public issues that are built on inflated figures. One such is Acme , gurgaon company. It is coming with public IPO of 2200 Crores. It has lot of inflated figures, Old damaged stock of more than 200 Cr not written off, Bad debts not written off, Fake Inter company sales, Stay Away from this IPO - go deep in disclaimers, you will know

Dipankar

11 months ago

I have Invested Rs.450000 in Alchemist Holdings for 16 years term. Now I found branches and offices in West Bengal. I have invested in the year of 2008. Now what should I do it.

DHRUBAJYOTI BORAH

11 months ago

I was the agent from Nagaland of sun plant business ltd

DHRUBAJYOTI BORAH

11 months ago

Take step as soon as possible so that we get back our money early. I was the agent from Nagaland getting so much pressure from my customers.

Lawyer Prabhat

1 year ago

File a criminal case against against company and also file case for refund of money:regards-Prabhat yadav advocate high court of mp 9300831794/8770168425

Sanjeev Gupta

2 years ago

Adarsh Credit Co-operative Society is Genuine or Fraud

subhankar Das

2 years ago

sir,
I had invested Infinity Realcon Limited amount from taking loan and debt in the prospect of getting some profit but due to fraud i lost my all hard earned money, i am in great difficulty and my condition is suicidal, i don't know what to do and where to go to get back my money and live normal life. I am very upset these days.please help me and save me sir.


regards
Subhankar Das.
Delhi
Mob 9999279459
[email protected]

REPLY

Lawyer Prabhat

In Reply to subhankar Das 1 year ago

Take legal action against company and be positive n call me on 9300831794/8770168425

halim akhtar

2 years ago

sir,
I had invested a huge amount from taking loan and debt in the prospect of getting some profit but due to fraud i lost my all hard earned money, i am in great difficulty and my condition is suicidal, i don't know what to do and where to go to get back my money and live normal life. I am very upset these days.
I request you to kindly take some concrete action as i had lodged my complain in the "Complain Board" but proved to be of no use as no action taken by them til yet.
please help me and save me sir and obliged.

regards
Halim Akhtar
P.O Chaibasa, Jharkhand
Mob 9934076051
[email protected]

145 companies being probed for chit fund scams

West Bengal tops the list of states with companies under investigation both in the last fiscal as well as the current one

 

In its crackdown on corporate fraud and chit fund scams, the government has, during the last three years and current year, ordered investigations of 145 companies allegedly involved in illegal deposit taking, parliament was told on Friday.
 
"'Fraud' has been defined as a substantive offence in the Companies Act, 2013 and its section 143(12) requires the auditor of a company to report any fraud to the board of directors or audit committee of that company or to the central government, depending on the amount of fraud," Corporate Affairs Minister Arun Jaitley told the Lok Sabha in a written reply.
 
West Bengal tops the list of states with companies under investigation both in the last fiscal as well as the current one.

User

Time to revamp human resource policies at government, PSUs
The government should not further delay a revamp of the policy relating to recruitment, training, placement and compensation strategies 
 
A newspaper report earlier this month says, “To ensure uniform minimum wages across the country, the Centre has hiked the national floor level from Rs137 per day to Rs160 a day with effect from 1 July 2015.” Last such revision was two years back when the revision was from Rs115 a day to Rs137 per day. As more and more jobs are going out of the organised sector and employment of all unskilled labour and skilled labour in many sectors are being sourced through ‘service providers’ the bench-mark minimum wage becomes more relevant in present day India. I am not able to relate the rates of minimum wages mentioned here to the needs of individuals/families in any geographical area in India. Perhaps, some researchers may be able to guide how the nutrition needs, clothes, shelter, healthcare and post-job needs are factored-in, in these figures. Let us wait and watch.
 
Our country, since independence, or more appropriately, right from the First Five Year Plan has been giving due importance for a vibrant and growing public sector in the nation’s economic development. In fact, certain sectors like defense production, Railways, Post and Telegraph were almost monopolised by public sector till a change in policy became necessary post-LPG (Liberalisation-Privatisation-Globalisation). The policy shift has thrown up many challenges before the government and the organizations in the public sector.
 
Actually, the private-public sector divide in regard to meeting social responsibility obligations/ commitments and a discriminatory approach between the two sectors, when it comes to government policy support is a legacy of the British Raj. Once it is accepted that the resources of the country are the property of the people and irrespective of ownership (whether government or private individuals/ groups/ families/ organisations), all are handling public funds/ resources in a trusteeship sense, this divide can be bridged to a great extent.
 
Presently, in the above background, Indian public sector is ailing from lack of autonomy, indecent competition arising from a wrong understanding of the unique position of our country and irrelevant comparisons. Unique position because, our per capita geographical area, availability of resources, literacy rate, development needs, system of governance  and so on are not amenable to comparison with most of the developed and developing countries of the world. Day in and day out, India is given a rank or rating among the assortment of nations in the world, many of them together can be accommodated in one of the states of India.
 
We are persuaded to believe that corruption and inefficiency exist only in government and public sector. In fact there is nothing farther than truth than this belief. The pre-IT success stories of Railways, Posts & Telegraph, Oil sector, Space Research, Defense Production and several other sectors, which functioned efficiently and where corrupt practices were brought to light quickly and remedial action initiated departmentally are easily and conveniently forgotten. Of course, now, one gets an impression that there is a vested interest working in the private sector to keep government corrupt and public sector inefficient. If Human Resources related issues in the government and public sector are given the attention they deserve, many of the present problems can be solved.
 
The absence of talent in government and public sector is the product of a deliberate neglect of HR-related issues by the government. The ageing top level in government and public sector is a serious issue.  In the present context when performance of government and institutions in public and private sectors is being watched by the world and judged almost online, human resources development HRD at the top across sectors should become a national priority. As a fire-fighting measure, there is a need for a comprehensive look at the manpower planning and deployment of available expertise among institutions across private and public sectors and related HRD issues, which have to be handled without further loss of time.
 
A long-term solution may  have to be found for the HR-related problems, including inability to hire experts at market related compensation (this is applicable up to the position of Secretary or CEO in government and public sector), skills becoming obsolete in short periods, employees’ reluctance to change and demands from trade unions emanating from job security concerns. There may not be a fit for all remedy, as the issues are diverse and sometimes sector or institution-specific.
 
A transparent guidance for a remuneration package based on paying capacity and need for skills for different sectors and ensuring social security should come from government without always worrying about what will be the impact on Cabinet Secretary’s salary or trade union demands. If the government secretary deserves a higher salary, government should not raise budgetary concerns for not paying it. Instead, merger of some departments and utilising the surplus manpower for new job opportunities should be a wiser option.
 
Time is opportune for both private and public sector organisations to have some introspection on their HR practices right from recruitment at the lowest level to selection of CEOs, remuneration packages, training facilities and social security measures for their employees. While organisations in the private sector may have to review the optimum pressure they can put on their executives and managers, government and public sector counterparts may dispassionately examine and modify their remuneration packages to ensure attracting and retaining competitive talent in the present market scenario. Let us not forget that the civil services, executives and staff of public and private sector undertakings have to supplement the skills of the increasing number of political masters who were not as fortunate to get trained or groomed.  The nation is immensely dependent on them for carrying out the development agenda on hand.
 
Government should not further delay a revamp of the policy relating to recruitment, training, placement and compensation strategies across government, public and private sectors.
 
The Government and public sector organizations may have to consider how best the ‘Cost to Company’(C to C) principles can be integrated into their existing recruitment, training, placement and career progression policies. This may involve convincing the existing employees that the changes will only improve the working results of the government departments and organisations they belong to and they will get opportunity to share the benefits and new job opportunities and so long as they are prepared to learn new things/upgrade their skills the infusion of ‘experts’ will not eat into their career progression opportunities. Inter-mobility of executives at higher levels among comparable departments of government and public and private sector organisations should be possible, on transparent norms and strictly based on merits. Changes may have to come first in the recruitment and training procedures for IAS and relates services, management trainees in public/private sector undertakings including probationary officers in PSBs.
 
The revamping of Tata Administrative Service sometime back gives enough food for thought for thinking on these lines. Specialized services like one for Banking/Financial Sector could be evolved for institutions including those in the private sector and all regulatory bodies in the financial sector.
 
There is no denying that there is no dearth of research, studies and analyses on issues relating to prices, income and wages discussed above. Pay Commissions (Central and at state level), wage negotiations in industries as between IBA and Unions in banking industry and in individual companies/organisations and academic research by scholars cover several aspects in different contexts. But at this juncture, as comparisons and need for ‘level playing field’ across sectors and geographies make handling of HR-related matters including maintenance of industrial peace and level of satisfaction at optimum level more complicated and tough, government should consider commissioning a national level comprehensive study by experts covering all aspects of Human Resources Management in the present Indian context.  
 
Till, perhaps ten years back, employers could depend on a growing population of educated unemployed from which they could hire and fire candidates on their terms. Position has changed with the opening up of the economy and sooner we realize it and act, the better. Dodging real issues could take us back to pre-reform days.
 
(MG Warrier is former general manager, RBI, Mumbai and author of the 2014 book “Banking, Reforms & Corruption: Development Issues in 21st Century India”.)
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User

COMMENTS

Somnath Swami

2 months ago

Money Desire Research address: 63, Mangal
Nagar ,M-307 Sai Ram Plaza,Bhawarkua road Indore MP-452001, License number : INA000002454, Manish Thakur, Sumit Sharma, Anup Tiwari so called CEO, please I request you do not fall in this trap . Do not trust these people they will
Take your money and then never return. SEBI , angel broking also not helping me. They are call them we can't help you. When I called them they are not picking up the call. Always not reachable Sumit Sharma no: +91-8319496919, Manish Thakur: +91-9685091169, Anup Tiwari: (CEO fake(scammer)+91-

8839091615, so
Many numbers in the website they are changing the name always and the complaint number: company website: www. Money desire research.com

Please take strict action against them sebi, angel broking is not helping me I have contacted CBI about this they are investing the case waiting for the result of body who is reading this help others and me as well to recover my money from them

Somnath Swami

2 months ago

Money desire research is a trap where people fall into it where people loose the money. They are saying do whatever you wants to do go to police, sebi,Cbi or any higher officials, they said once you paid you can not get it back. They said, you paid for service charge for stock. manish Thakur, sumit Sharma,rohit,nirankar, Niranjan, nizzamuddin, anup tiwari are name who making fool by giving false promises to give higher returns to fresh investors . they will take your money then they will never give you back, they are running a racket. Indore MP is a place where all fake stock advisory companies are running. SEBI , police, Cbi no body taking any strict actions against them . Please help me out to get my money back it's my hardern money. Manish, sumit, anup tomar, anup tiwari (so called CEO), they are the real culprit. They are using fake sebi license number, showing you NSE status, then always saying sir please arrange 2,00,000/- to get good profit. They will take your money by giving fake and false commitments about the profit. They will take your all money.
Indore Mp, Bhopal , free tips advisors who are calling so many people making fool
and take their hardern money

Please help me out to get my money. Sebi and angel broking both are not helping the people. Instead of helping me they are saying contact the same people to who you speak. No body helping me. Making fool, they are not returning the money I have taken loan paying interest but for what.I Do not have loan amount with me instead of using my money I m
Paying interest. Help me out

Somnath Swami

2 months ago

Money Desire research who has done a fraud with me of 2,50,000/- it's a fake, scam company who has cheated so many fresh investors. they have believed to get good returns from the stock market instead getting profit this scam stock advisory company make loss to the people. they are giving luckrative profitable options but they want cheat the people's hardern money. It's a trap where new people fall into it. Even SEBI is not helping the people they are also involved in it. Stop all fake stock advisory Indore MP based company. They are doing fraud and cheat

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