Ethics

The Supreme Court order to raze down five residential complexes in Maradu Grama Panchayat near Kochi had kick-started a political storm in Kerala. Here is everything you need to know about the issue. ➤How did the apartments come up in Maradu? The story begins in 2006, when the CPM-ruled Maradu Panchayat granted permission for the construction for five waterfront apartments -- Holiday Heritage, Kayaloram, Alfa Ventures, Holy Faith and Jain Housing -- overlooking the scenic canals of  Kochi backwaters. The 343 flats in the five buildings cover an area of 68,028.71 sq mts. But, just nine months after granting permission, the panchayat issued a notice to the builders following a directive by the  Kerala Coastal Zone Management Authority (KCZMA).  ➤Why did KCZMA object the construction?  The government body said the site fell under the CRZ-III vulnerable category where no construction is allowed within 200 metres from the coast. Any such act will be identi...

Creation of multiple companies by a single person is not unheard of in fraud cases. It is the unusually high profit, 200% at that on some products, pocketed by an accused in Insurance Medical Services (IMS) by creating four firms, is leaving people astonished. Sleuths of Anti-Corruption Bureau (ACB) probing the IMS scam involving close to ₹1,000 crore public money found that one of the accused, Srihari Babu alias Babji, floated four firms. Omni-Medi, Omni Enterprises, Omni Healthcare and Legend Enterprises were created allegedly by him. A supplier of medicines and medical kits, the accused used to purchase products directly from the manufacturers and supply to others by taking some profit. Suppliers make profits from 5% to 25% maximum. But the accused made more than 200% profit on products he had supplied to directorate of IMS! It is here floating of four firms helped him to jack up price of a product and earn profit double the product’s cost. A classic example is a medical...