All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
New ministry will bring much-needed transparency in the functioning of the cooperatives, which so far have been riddled with allegations of political interference and mismanagement.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
Union Home Minister Amit Shah on Sunday shared the dais with Maharashtra Deputy Chief Minister Ajit Pawar at an event in Pune and said the latter is now at the 'right place after a long time', but 'came very late'.
Patil, who heads the Maharashtra NCP unit, also scotched speculation that he was set to join the Ajit Pawar-led group in the Shiv Sena-Bharatiya Janata Party government.
Those transferred include special secretary of health and family welfare Udit Prakash Rai, a 2007 batch IAS officer of AGMUT cadre.
The Centre has also listed 24 bills, including the Cantonment Bill, the Multi-State Cooperative Societies (Amendment) Bill and the Insolvency and Bankruptcy Code (Amendment) Bill.
India borrows ideas that we don't need, like the FRDI Bill, and ignores the ones we need, like rewarding whistleblowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
Former AAP minister Rajendra Pal Gautam was questioned for three hours on Tuesday in connection with a complaint received against his presence at a religious conversion event where Hindu deities were allegedly denounced, officials said.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
In an escalation of differences between Puducherry Lt Governor Kiran Bedi and the ruling Congress party, the former on Thursday declared as "null and void" the circular issued by Chief Minister V Narayanasamy banning the use of social media for official communication.
Even Delhi does not have a full-time registrar of chits.
'If, as appears to be the case, India is on way to 'mending fences' with China, and China is equally desirous to 'reset' the relationship, this could be a self-reflexive moment in India's positioning vis-a-vis not just the Dalai Lama, but also the Tibetan issue and China as a whole,' points out China expert Alka Acharya.
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