SC notice to Centre over chit funds

NEW DELHI: The Supreme Court on Tuesday issued notices to the Centre, market regulator Sebi and Reserve Bank of India on a PIL seeking activation of a stringent regulatory mechanism to control activities of mushrooming of chit funds, many of which dupe investors of their life's savings.

NMart seeks investigation by CID

NMart filed a writ petition in Andhra Pradesh High Court seeking transfer of all criminal cases filed against the company to the Crime Investigation Department (CID), Hyderabad. The High Court admitted the petition and issued notices to the State Government and the Director General of Police to present their views on the petition.Though it has to be wait and watch what the government would do in this respect, some basic questions arise regarding the writ petition.