Connect with us

National

PACL’s duped investors to protest at SEBI HQ on February 26

Published

on

Mumbai, Feb 21 (IANS) In a first, thousands of investors from across India who were duped by PACL Ltd of crores of rupees will take out a protest march to the Securities and Exchange Board of India (SEBI) headquarters here on February 26 to demand their money back.

Rallying under the banner of Janlok Pratishthan, these investors of erstwhile Pearls Infrastructure Projects will march to the SEBI headquarters in the Bandra Kurla Complex to demand their money, said its President Sunanda Kadam.

“The SEBI has consistently failed to protect small investors, including those of PACL, who have been duped out of their hard earned monies. Small depositors are at the receiving end as the SEBI is proving lax in safeguarding our interests from defaulting companies like PACL,” Kadam told IANS.

Around 200,000 protesters are expected to rally to condemn the “inaction of SEBI which has just become a bureaucratic entity and failed to check increasing financial frauds and Ponzi schemes in the country”, she added.

Kadam said after the real estate development company PACL’s fraud came to light, investors group Janlok Pratishthan had moved the court. The Supreme Court had constituted a committee under Justice R.M. Lodha.

It also ruled that the properties of PACL be auctioned and the proceeds utilised to repay PACL investors with interest within six months.

She claimed that even two years after the apex court ruling, PACL had deposited only Rs 370 crore with the committee, and that the Supreme Court orders had been flouted in the process.

The Janlok Pratishthan later learnt that PACL had sold a luxury hotel in Australia and its proceeds of around Rs 400 crore remained blocked in an escrow account.

However, the SEBI has not initiated concrete steps to recover the money and ensure refunds to nearly six crore PACL investors so far, Kadam rued.

–IANS
qn/tsb/bg

Continue Reading

National

Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

Published

on

By

Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

Continue Reading

Trending