Sebi files nomination for jointly held mutual fund accounts optional
Further, the Sebi has also allowed fund houses to have a single fund manager to oversee commodity and foreign investments. This would reduce the cost of managing the fund.
A day after Justice Madhumati Mitra of Calcutta High Court extended the interim protection from arrest to additional director general (ADG) CID, Rajeev Kumar by a week, his counsel, Milan Mukherjee today submitted that CBI following a pick and choose policy is trying to single out his client among the 100-odd officers of the SIT.
He questioned the functioning of the CBI after it had been handed over documents by SIT and contended it had unearthed precious little after it had taken over the case. The CBI sleuths have not yet interrogated any official of SEBI, Registrar of Companies, Reserve Bank of India and Income Tax department, it was stated.
The scam could not have been engineered without the complicity of some of the officials of these agencies, it was alleged. The Saradha Realty Limited and other companies belonging to this group could not have collected deposits had such complicity not been there, Mukherjee submitted.
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But no one had questioned the functioning of the CBI in this case which has become the longest running investigation in the probe agency’s history.
Nalini Chidambaram, the wife of the then Union home minister, P Chidambaram is yet to appear in court, Mukherjee said, adding she could have been a key witness.
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