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QChennai: Alleged Fraud in NSE, Madras HC Takes Notice and More

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HC Seeks response of Serious Fraud Investigation Office.
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1. HC Takes Serious Note of Alleged Fraud in NSE

The Madras High Court on Monday took serious note of a case filed by a lawyer alleging that efforts were on to brush under the carpet a serious fraud that reportedly took place in the National Stock Exchange in 2010 when select brokers were given preferential access to data much to the detriment of several others.

Justice R Mahadevan said he would pass a detailed judgment on the issue after hearing the Union Ministry of Corporate Affairs as well as the Serious Fraud Investigation Office (SFIO) functioning under the Ministry. He directed the petitioner A Kumar’s counsel to serve private notices on them returnable by September 28. In his affidavit, the petitioner claimed that the preferential access provided to select brokers had caused monetary loss running into several trillions of rupees to millions of investors besides shattering the public confidence on regulated national exchanges such as NSE. He alleged that the fraud was committed with political backing.

(Source: The Hindu)

2. TN Slum Clearance Board’s Apathy Irks Activists

The TNSCB failed to carry out any Social Impact Assessment.
The TNSCB failed to carry out any Social Impact Assessment.
(Photo Courtesy: Wikipedia)

In response to an activist’s query as to why Tamil Nadu Slum Clearance Board (TNSCB) had not carried out Social Impact Assessments (SIA) before evicting informal settlements, the board, in its response has stated that ‘the furnishing of information by the slum families’ in Form 2 is part of SIA study’.

Activists term this a brazen reply since Form 2 merely collects details such as family card numbers and the age of family members. The response was submitted by TNSCB to National Commission for Scheduled Castes (NCSC) after an activist and policy researcher Vanessa Peter petitioned the NCSC to look into human rights violations of the deprived urban communities during evictions.

(Source: The New Indian Express)

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3. Chennai Metrowater to Tap Farmwells in Tiruwallur

Storage in three major reservoirs in the city can meet supply only for a month.
Storage in three major reservoirs in the city can meet supply only for a month.
(Photo: PTI)

For the second successive year, Chennai MetroWater Supply and Sewage Board plans to draw water from agricultural wells in Tiruvallur district to bridge the growing gap between city’s drinking water supply and demand.

With the present storage in the city’s reservoirs to last only a month, the water agency has called for tenders to hire agricultural wells in Tiruvallur district for a year as a precautionary measure to tackle the water demand, officials said. It has called for bids to hire wells in Siruvanur, Pularambakkam, Movur, Gandhi Nagar, Kizhanur, Melanur, Ramarajan Kandigai, Velliyur and Magaral located close to Poondi and Tamaraipakkam well fields in Tiruvallur district.

(Source: The Hindu)

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4. ‘Chennai Streets to be Safe as Those in Singapore’

Chennai streets will soon be as safe for women, as the streets in Singapore are, said actor Vikram in the city on Monday. He was releasing a video for spreading awareness on installing CCTV in all neighbourhoods. The video that he features in is an initiative taken by Greater Chennai police. The actor, known popularly for playing police in many of his films said, “Catching a culprit becomes really easy, when there are video footages from the crime scene.”

(Source: The New Indian Express)

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5. Fishermen Want Solution to Silting of Pulicat Lake

Following their protest, WRD starts dredging the Araniar bar mouth.
Following their protest, WRD starts dredging the Araniar bar mouth.
(Photo Courtesy: HolidayIQ)

Fishermen of Pulicat lake on Monday staged a protest demanding immediate dredging of the bar mouth and a permanent solution to the silting of the waterbody. Narasing of Koonangkuppam said that fishermen of various villages had been submitting petitions to officials seeking dredging of the bar mouth that allows seawater to enter and exit the waterbody, but to no avail.

“When we ask officials they only seem to give empty promises. Around 2,000 inland and sea faring fishermen and their families are dependent on the lake. We hope the government will take immediate action,” he said. Jalandran Chettiyar of Arangamkuppam said it has been at least a week since the fishermen ventured into the sea as the estuary was closed with silt.

(Source: The Hindu)

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