Materials
April 22, 2011
Mining Industry in India is an important economic sector which contributes significantly to the economy of India. India's minerals range from both metallic and non-metallic types.The total working mines were 2,854 in 2007-08 with 569 mines belonged to coal and lignite, 676 mines to metallic minerals and 1,609 mines to non-metallic minerals.There were 755 mines in public sector and the remaining 2,099 mines in private sector.India is an important exporter of iron ore, titanium, manganese, bauxite, granite, and imports cobalt, mercury, graphite etc. India mineral resources of the country are surveyed by the Indian Ministry of Mines, which also regulates the manner in which these resources are used. The ministry oversees the various aspects of industrial mining in the country.Note Mining in India comes under both the ferderal and state supervision.
December 8, 2010
Now the Investigative Bureau (IB) has said that another stock market operator Rathod was colluding with promoters of agricultural companies like Ruchi Soya,Karuturi Global and KS Oils to rig stock prices.This was being done through various front companies and maverick investor C Shivasankaran was behind these moves.Note these companies have become the darling of brokerages and media being touted as the next big thing with vertical integration and acquisitions of agricultural land in Africa.The media hype that these companies got also makes one suspect that some of these firms were also involved in this scam.The Modus Operandi was again the same as followed by Dangi and Ashika group firms earlier.It remains to be seen if prosecution results in any jail time for any of these offenders.Generally nothing happens in corruption scandals in India as a SC Judge recently note that corruption had become a way of life.