Dear All, Large ECBs for Power in April 2013 Indian firms

 

Dear All,

 

Large ECBs for Power in April 2013

 

 

Indian firms have raised US$ 1.12 bn through external commercial borrowings (ECBs) in the month of April 2013 by automatic and approval route. The borrowings stood at US$1.12 bn in April 2013 as compared to US$ 2.73 bn in April 2012.

 

External commercial borrowings (ECBs) since April 2011                                                                                   (US$bn)

 Source: PHD Research Bureau, compiled from RBI

Note: ECB contains both automatic and approval routes

 

India has received gross ECBs worth around US$223 bn between FY2001 and FY2014 (till April 2013).

 

Gross ECB Inflows                                                                                                                                                (US$bn)

Source: PHD Research Bureau, compiled from RBI

* Data pertains to Apr 2013

Note: ECB contains both automatic and approval routes

 

A closer look at the ECBs pattern reveals that the lion’s share in ECB during the month of April 2013 is held by the power contributing to about 43% of the total, followed by import of capital goods at around 22% and new project at around 13%.

 

  Pattern showing ECBs during April 2013                                                                                                     (% share in total)

  Source: PHD Research Bureau, compiled from RBI

 Note: ECB contains automatic& approval route both

 

 

Warm regards,

 

Dr. S P Sharma

Chief Economist

  State Development MonitorMay 2013 States have observed several developments in

 

 

State Development Monitor

May 2013

 

States have observed several developments in all the spheres. Many economic activities have taken place in states such as World Bank’s proposal of multi billion programme to support low income states of India and Punjab ’s plan to announce its new industrial policy soon. On the fiscal front, Bihar has received an annual plan of Rs.34000 crore for 2013-14 while Haryana received an annual plan of Rs.27072 crore.

 

Rural economy of states gets boost with notable developments such as 4745 self help groups formed in Uttar Pradesh under PRIYADARSHINI scheme and National Rural Drinking Water Programme has been efficiently launched. An initiative for women empowerment was taken as Rs.94.8575 crore was released under Mahila Kisan Sashaktikaran Pariyojana as first installment of centre’s share.

 

Paving the way for better infrastructure, Union Government has approved Rs.285.75crore to Himachal Pradesh under PMGSY. With a view of increasing demand of electricity centre has proposed to supply electricity to deficit regions from surplus regions. Several social developments have also taken place in most of the states. Rajasthan has approved pension for 4 lakh people while National Commission for Women and HUDCO has joined hands to uplift the conditions of Vrindavan widows. Further, the Ministry of Tourism has released its annual report for the year 2012-13 setting goals to boost tourism.

 

SDM for the month of May 2013 is attached.

 

We welcome your suggestions and comments for the same.

 

Warm regards,

 

Dr. S P Sharma

Chief Economist

UNICEF’s annual State of the World’s Children’s report31052013Children with

UNICEF’s annual State of the World’s Children’s report

31052013

Children with disabilities and their communities would both benefit if society focused on what those children can achieve,rather than what they cannot do,according to UNICEF’s annual State of the world’s children’s report.Image

New Delhi, India, 30 May 2013 – Children with disabilities and their communities would both benefit if society focused on what those children can achieve, rather than what they cannot do, according to UNICEF’s annual State of the World’s Children’s report.
Concentrating on the abilities and potential of children with disabilities would create benefits for society as a whole, says the report released today.
“When you see the disability before the child, it is not only wrong for the child, but it deprives society of all that child has to offer,” said UNICEF Executive Director Anthony Lake. “Their loss is society’s loss; their gain is society’s gain.”
The report lays out how societies can include children with disabilities because when they play a full part in society, everyone benefits. For instance, inclusive education broadens the horizons of all children even as it presents opportunities for children with disabilities to fulfil their ambitions.
More efforts to support integration of children with disabilities would help tackle the discrimination that pushes them further into the margins of society.
For many children with disabilities, exclusion begins in the first days of life with their birth going unregistered. Lacking official recognition, they are cut off from the social services and legal protections that are crucial to their survival and prospects. Their marginalization only increases with discrimination.
“For children with disabilities to count, they must be counted – at birth, at school and in life,” said Mr. Lake.
The State of the World’s Children 2013: Children with Disabilities says that children with disabilities are the least likely to receive health care or go to school. They are among the most vulnerable to violence, abuse, exploitation and neglect, particularly if they are hidden or put in institutions – as many are because of social stigma or the economic cost of raising them.
The combined result is that children with disabilities are among the most marginalized people in the world. Children living in poverty are among the least likely to attend their local school or clinic but those who live in poverty and also have a disability are even less likely to do so.
Gender is a key factor, as girls with disabilities are less likely than boys to receive food and care.
“Discrimination on the grounds of disability is a form of oppression,” the report says, noting that multiple deprivations lead to even greater exclusion for many children with disabilities.
There is little accurate data on the number of children with disabilities, what disabilities these children have and how disabilities affect their lives. As a result, few governments have a dependable guide for allocating resources to support and assist children with disabilities and their families.
About one third of the world’s countries have so far failed to ratify the Convention on the Rights of Persons with Disabilities. The report urges all governments to keep their promises to guarantee the equal rights of all their citizens – including their most excluded and vulnerable children.
Progress is being made toward the inclusion of children with disabilities, albeit unevenly, and The State of the World’s Children 2013 sets out an agenda for further action.
The report urges governments to ratify and implement the Convention on the Rights of Persons with Disabilities and the Convention on the Rights of the Child, and to support families so that they can meet the higher costs of caring for children with disabilities.
It calls for measures to fight discrimination among the general public, decision-makers and providers of such essential services as schooling and health care.
International agencies should make sure the advice and assistance they provide to countries is consistent with the Convention on the Rights of the Child and the Convention on the Rights of Persons with Disabilities. They should promote a concerted global research agenda on disability to generate data and analysis that will guide planning and resource allocation, the report says.
It emphasizes the importance of involving children and adolescents with disabilities by consulting them on the design and evaluation of programmes and services for them.
And everyone benefits when inclusive approaches include accessibility and universal design of environments to be used by all to the greatest extent possible without the need for adaptation.
“The path ahead is challenging,” said Mr. Lake in Da Nang, Viet Nam, for the launch of the report. “But children do not accept unnecessary limits. Neither should we.”

Rookie Angad Cheema bags maiden professional title31052013  Richard Stephen Hilton

Rookie Angad Cheema bags maiden professional title

31052013

 

Image

 

Richard Stephen Hilton finishes runner-up

 

Jaipur, May 30, 2013: Rookie Angad Cheema of Panchkula won the second leg of the 2013 PGTI Feeder Tour at the Rambagh Golf Club in Jaipur on Thursday after he fired an even-par-70 in the third and final round. Cheema totaled five-under-205 for the tournament to bag his maiden professional title. Dehradun’s Richard Stephen Hilton was the runner-up as he finished one stroke behind the winner.

 

Angad Cheema (69-66-70), who was overnight second, had an ordinary start to the day. He bogeyed the first and third holes after a couple of poor shots. The 23-year-old Cheema picked up his first birdie of the day with an eight feet putt on the eighth. However, he stumbled with another bogey on the ninth.

 

Angad then produced a far better back-nine as he birdied the 10th and 15th and made a good par to win on the 18th. Cheema, a winner of three events on the amateur circuit, landed his approach shots within five feet and two feet for birdies on the 10th and 15th respectively.

 

Cheema said, “The turning point for me was the birdie on the 15th as that gave me a two shot lead. I also made a good chip-putt for par to win on the 18th. My putting was much better as compared to last week’s event in Faridabad where I missed the cut. After the poor performance in Faridabad, I came to Jaipur just to prove to myself that I can play much better golf. I wanted to get in the right frame of mind before the season’s bigger events.

 

“I knew I would do well at the Rambagh Golf Club as I had won a team event at this venue during my amateur days. It’s great to win my first title within five months of turning professional. This victory is of huge significance to me.”

 

Angad Cheema is now placed second on the PGTI Feeder Tour Order of Merit behind Arjun Singh Chaudhri who won the first leg of the season at Faridabad last week.

 

Richard Stephen Hilton (68-69-69) was the runner-up with a four-under-206 total. The 25-year-old Richard made four birdies, a bogey and a double-bogey in his final round of one-under-69. Hilton, playing in his second season as a professional, posted the best ever result of his professional career after he finished second at Jaipur.

 

Overnight leader Honey Baisoya of Delhi secured tied third place along with Amardeep Rawat of Lucknow at three-under-207. Baisoya shot a three-over-73 in the final round.

 

Vishal Singh of Jaipur and Chandigarh’s Roop Singh were in tied fifth place at one-under-209.

Honey Baisoya stays ahead in round two Jaipur, May

Honey Baisoya stays ahead in round two

 

 
 
 
The cut was declared at six-over-146. Thirty-eight professionals made the cut for the third and final round scheduled to be played on Thursday, May 30.
 
Honey Baisoya (66-68), the overnight joint leader, started from the 10th and bagged his first birdie of the day with a magnificent chip-in on the 12th. Honey then dropped bogeys on the 13th and 14th. He came roaring back on the par-5 17thwhere he found the green in two. BaisoyaⳠeagle putt lipped out on the 17th but he still salvaged a birdie there.
 
The young rookie picked up shots on the 18th and first as well to make it three birdies in a row. He sank a 15-footer on the first. A bogey on the fourth and a birdie from seven feet on the seventh meant Baisoya ended his day with a score of 68. ༯span>
 
Baisoya said, ㉒ve been consistent on the first two days and earned the reward for it. I had a better finish today as compared to yesterday as I made good pars on the last two holes. I hit it well today to set up some birdie opportunities. My chipping was great today and I sank a few crucial putts. I⬬ look to keep the intensity going in the final round.伯span>
 
Angad Cheema (69-66) is placed second at five-under-135. Cheema, also a rookie on the PGTI like Baisoya, posted the joint best score of the day. His four-under-66 on Wednesday included two eagles, three birdies and three bogeys. He chipped-in for eagle from 30 yards on the seventh.
 
Balwinder Singh MattuⳠ66 was the dayⳠbest score along with Angad CheemaⳠround. The Jalandhar-based Mattu currently shares third position with Richard Stephen Hilton of Dehradun at three-under-137.
 
Vishal Singh is currently the highest-placed among the professionals from Jaipur. Vishal is in tied 10th with a total score of even-par-140 at the end of round two.
 
Akshay Sharma of Chandigarh was the other golfer besides Angad Cheema who made two eagles in the second round. Akshay ended the day with successive eagles on the 17th and 18th after making two birdies, five bogeys and a double-bogey earlier in his round. His score of one-over-71 on Wednesday placed him in tied 17th at two-over-142.

INSTITUTO CERVANTES DE NUEVA DELHI  –  CULTURA  –  JUNIO 2013  Web Ciclo de

INSTITUTO CERVANTES DE NUEVA DELHI  –  CULTURA  –  JUNIO 2013  Web

 

Ciclo de cine sobre música brasileña

Brazilian music film series

La Embajada de Brasil en India y el Instituto Cervantes de Nueva Delhi tienen el placer de invitarle al Ciclo de cine sobre música brasileña que será inaugurado el domingo 2 de Junio a las 4:30pm en el auditorio.

El ciclo arrancará con la proyección de la película “El milagro de Candeal” dirigida por el español Fernando Trueba.

 

The Embassy of Brazil in India and Instituto Cervantes of New Delhi cordially invites you to the Brazilian film & music series that will be opening on sunday 2nd June at 4:30pm at the auditorium.

The opening session will be screende the film “Miracle of Candeal” shooted by the Spanish directorFernando Trueba.

 

 
AGENDA

02/06/2013 Auditorio, 4:30pm. Entrada libre/Free entry.

“El milagro de Candeal”

Bebo Valdés, el gran pianista cubano, viaja hasta Salvador de Bahía (Brasil), donde conoce la villa miseria Candeal. Gracias a la iniciativa del músico Carlinhos Brown y al esfuerzo de sus moradores, esa comunidad se ha convertido en un lugar  especial. Utilizando la música como motor para todo tipo de iniciativas, la gente de allí ha recuperado la autoestima y la esperanza de que la realidad puede ser transformada.

“Miracle of Candeal”

Bebo Valdés, the great Cuban pianist, travels to Salvador de Bahia (Brazil), where he encounters the Candeal slum. Thanks to the initiative of the musician Carlinhos Brown and the efforts of its inhabitants, this community has become a special place. Using music as a force for every type of initiative, the people there have regained their self-esteem and the hope that reality can be transformed.

 

 

09/06/2013 Auditorio, 4:30pm. Entrada libre/Free entry.

“Dos fijos de Francisco”

Francisco, agricultor del interior de Brasil, tiene un sueño aparentemente imposible: transformar dos de sus nueve hijos en famosos cantantes de música popular. Mirosmar, el hijo más grande, que toca un acordeón, y su hermano Emival, que toca la guitarra, empiezan a presentarse en las fiestas del pueblo donde viven. Los chicos tienen éxito y llegan a cantar para 6000 personas en zonas rurales de Brasil. Sin embargo, un accidente interrumpe dramáticamente la carrera del dúo. Después de casi renunciar a la carrera, Mirosmar decide volver a cantar, ahora con el nombre artístico “Zezé Di Camargo”. Tras superar dificultades, se une a su hermano menor y juntos se trasforman en exitosos cantantes de música “sertaneja”, con millones de discos vendidos.

“Two sons of Francisco”

Francisco, a farmer in the Brazilian hinterland, has a seemingly impossible dream: to transform two of his nine children into famous folk singers. Mirosmar, the eldest son, who plays an accordion, and his brother Emival, who plays the guitar, begin to play in their village festivals. The boys are successful and sing for 6000 people in rural Brazil. However, an accident dramatically disrupts the duo’s career. After almost giving up, Mirosmar decides to sing again, now with the stage name “Zeze Di Camargo”. After overcoming difficulties, his younger brother joins him and together they become successful “sertaneja” music singers, with millions of records sold.

 

16/06/2013 Auditorio, 4:30pm. Entrada libre/Free entry.

“Una noche en 67”

En el teatro: aplausos, abucheos, una guitarra rota, guitarras tintineantes. Sobre el escenario: los jóvenes Chico Buarque, Caetano Veloso, Gilberto Gil, Roberto Carlos, Edu Lobo y Sergio Ricardo. Canciones: “Roda Viva”, “Ponteio”, “Alegría, Alegría”, “Sunday in the Park”. Y sólo uno de ellos iba a ganar. Es una noche en el 67, una invitación a vivir el final del Festival de Música Record que cambió el curso de la Música Popular Brasileña.

“A night in 67”

In the theater: applause, boos, one broken guitar, jangling guitars. On stage: young Chico Buarque, Caetano Veloso, Gilberto Gil, Roberto Carlos, Edu Lobo and Sergio Ricardo. Songs: “Roda Viva”, “Ponteio”, “Joy, Joy”, “Sunday in the Park”. And only one of them would win. That’s One Night in 67, an invitation to live the end of the Record Music Festival that changed the course of the Brazilian Popular Music.

 

   

23/06/2013 Auditorio, 4:30pm. Entrada libre/Free entry.

“Cazuza. El tiempo no para”

La película presenta la carrera y la vida personal de Cazuza, uno de los más importantes cantautores del rock brasileño, desde el comienzo de su trayectoria artística, en 1981, hasta su muerte en 1990, a los 32 años de edad. La película acompaña hechos intensos de su vida y revela su comportamiento transgresor y su coraje para continuar a crear, incluso cuando se encuentra debilitado por el SIDA.

“Cazuza. Time doesn´t stop”

The film presents the career and personal life of Cazuza, one of the most important songwriters of Brazilian rock, from his debut, in 1981, until his death in 1990, at the age of 32. The film follows intense events in his life and reveals his transgressive behaviour and courage to continue creating, even when he was already weakened by HIV/AIDS.

 

30/06/2013 Auditorio, 4:30pm. Entrada libre/Free entry.

“Cartola. Música para los ojos”

La película retrata la historia de Angenor de Oliveira, conocido como Cartola. Uno de los más importantes compositores de la música brasileña de todos los tiempos, Cartola es autor de obras representativas de la cultura del samba, como “El mundo es un Molino” y “Las Rosas no Hablan”. En el documental, los directores Lírio Ferreira y Hilton Lacerda muestran la importancia de Cartola para la música brasileña, presentando un emocionante panorama del auténtico samba y sus principales compositores.

“Cartola. Music for the eyes”

The film portrays the story of Angenor de Oliveira, also known as Cartola. One of the most important composers of Brazilian music of all time, Cartola is the author of representative works of the culture of samba, such as “The world is a Mill” and “Roses do not Speak”. In the documentary, the directors Lirio Ferreira and Hilton Lacerda show the importance of Cartola in Brazilian music through an exciting panorama of the authentic samba and its main songwriters.

   
   
   
   
   

 

 
   
   
   

 

 
 
COMING SOON
PRÓXIMAMENTE

7,14,21,28/07/2013
Auditorio Instituto Cervantes
Ciclo de cine boliviano
Bolivian film series

4,11,18,25/08/2013
Auditorio Instituto Cervantes
Ciclo de cine guatemalteco
Guatemalan film series

  EL INSTITUTO CERVANTES
EN EL MUNDO

MANILA: Concierto “La pasión sin fin de la Zarzuela” (+)

MANILA: Concert “The Unending Passion of Zarzuela” (+)

 

 

PRAGA: Exposición “Retratos. Itinera PhotoEspaña” (+)

PRAGUE: Exhibition “Portraits. Itinera PhotoEspaña” (+)

Agenda

ONGC post Rs.25,123 Cr NP on a turnover

ONGC post Rs.25,123 Cr NP on a turnover of Rs.76,130 Cr to invest of Rs.11,00,000 Cr

30052013

PUMPING ENERGY: ONGC CMD Sudhir Vasudeva with the Board of Directors of ONGC during a media interaction in New Delhi on Monday.

ONGC, Chairman  on his maiden   media interaction to present the annual reports 2013 in New Delhi.

Mr Vasudeva said, on replying to Nksagar question on IPO of bonds or equity share for sale of  the promoter, for garnering funds on capital expenditure the Government of India must make call on when it wants to go ahead. He further added that the Shares  market has been behaving very erratically and Government has to take a call.Chairman ONGC  Vasudeva said, ONGC  to unlock 450 million tonnes of oil and oil equivalent gas yet to be explored from the  domestic resources, OVL has been tasked to source 60 million tonnes of oil and oil equivalent gas per year by 2030.“We have decided to invest and explore opportunities in 4-5 international hubs, where OVL can atain growth of sufficient scale. Potential growth hubs include heavy oil, conventional plays, shale and deepwater,” he said.

“We have prepared a ‘Perspective Plan 2030′ that envisages doubling production over the next 18 years at 4-5% annual production growth rate,” he said.

These  ‘blue print’ targets doubling production in course of achieving a three-fold growth in revenue and profits. It also aims for a four-fold growth in market capitalisation of the company and a six-fold growth in production from international operations, he said.

“All this will require an investment of Rs.11,00,000 cr,” he said. It posted a net profit of Rs.25,123 cr on a turnover of Rs.76,130 cr.

ONGC expects to raise its crude oil output to 28 million tonnes a year by March 2014, and gas production to 100 million standard cubic metres a day by March 2017. ONGC  to bring in in foreign partners for increasing its output

SUSHMA SWARAJ TO INAUGURATE WOMEN ENTREPRENEURS BODY29052013 ROLE OF WOMEN

SUSHMA SWARAJ TO INAUGURATE WOMEN ENTREPRENEURS BODY

29052013

 


ROLE OF WOMEN ENTREPRENEURS IN ECONOMY WILL HAVE KEY FOCUS 

Leader of Opposition in Indian Parliament Smt. Sushma Swaraj shall be inaugurating  CAIT Women Entrepreneurs Organisation (CWEO) , the women wing of the Confederation of All India Traders (CAIT),an apex body of the trading community of the Country, tomorrow at a glittering function to be held at Jaipur and will administer oath of office to National Team of CWEO and CAIT Team of Rajasthan Chapter. Smt. Swaraj will also speak on better involvement of women entrepreneurs in main stream of national economy and their role in social development of the nation. Senior trade leaders and women entrepreneurs from different states shall be attending the function.

Mr.Suresh Patodia, State President of CAIT Rajasthan Chapter today at a Press Conference informed that CAIT National Chairman Shri Mahendra Shah, CAIT National President Mr. B.C.Bhartia, National Secretary General Mr. Praveen Khandelwal, National Secretary Shri Ramesh Khanna and other CAIT leaders shall be joining the function. Besides prominent trade leaders of trade association of Jaipur and Rajasthan shall also be attending the function. The CAIT has also invited senior leaders of Industry,Farmers, Hawkers and other organisations of retail trade. He also informed that the CAIT is the largest organisation of trading community in the Country having alliance with more than 20 thousand trade federations, associations and chambers all over the Country.

Ms. Seema Sethi, National Convener,CWEO while addressing the media said that about 35% women in the Country are engaged in self employed enterprises but there is no credible organisation who looks after their issues and interests. The women wing of big corporate organisations are working merely for the interests of a certain class. The women entrepreneurs having small nature of business are much large in numbers and despite facing heavy odds are running their ventures successfully in the Country. The CWEO has been formed to raise voice of such section of women entrepreneurs with active assistance of its parent organisation, the Confederation of All India Traders.

CAIT National Secretary General Mr. Praveen Khandelwal said that the CAIT is working for the cause of small traders in the Country since a long time. Issues like FDI in Retail, Free Trade Agreements with different nations, National Trade Policy at Centre and State Trade Policy at different States, formation of a Ministry of Internal Trade both at Centre and States, Status of Tax Collector to Traders, Pension to traders attaining the age of 60 years, Single Tax based uniform taxation system , Amendments in Food Safety and Standards Act, Review of all sorts of Laws, Acts, Rules and Regulations governing trade, removal of anomalies and discrepancies of current VAT tax regime, Develop India into one single market by abolition of all sorts of road permits, entry forms in Inter-state trade and several other issues are being constantly raised by CAIT regularly at national level.

CAIT National Secretary Shri Ramesh Khanna said that CAIT has a consistent stand that FDI in Retail Trade and Free Trade Agreement with European Union are the tools to compromise with economic sovereignty of the Country. In case the Indian Bazars are handed over to global companies vide FDI and FTA, such Companies will control and dominate the retail trade and other sectors and will exploit the consumer as per their dictates. The CAIT has demanded that instead of laying red carpet for such global Companies, the Government should formulate a policy to upgrade and modernise the existing retail trade, in consultation with trade leaders. Such a step shall not only streamline the domestic trade but will also result in better revenue prospects for the Government.

Indian retail trade accounts for nearly Rs.20 lakh crore per annum and is contributing to more than 15% to National GDP having an annual growth of about 15%. More than 5 crore business establishments are engaged in economic activities in retail trade in unorganised sector and providing livelihood to more than 22 crore people in the Country. It is the second largest employment generating sector after Agriculture in India.

 Good morning –On Sunday, I was in Moore,

The White House, Washington
 

Good morning —

On Sunday, I was in Moore, Oklahoma. Today, I’m headed to the Jersey Shore. Those two communities are separated by half a continent but united by a common sense of purpose. Like Joplin, Tuscaloosa, and New Orleans, they are home to people who’ve seen nature at its worst and humanity at its best. And they’re filled with those who have made the choice to rebuild after disaster, to come back stronger than ever.

The scene on the ground this weekend was one we all know too well: homes wrecked and neighborhoods devastated. But the memories I’ll take away from Moore will be of people standing tall, of neighbor helping neighbor, of survivors working to ensure that no one suffers through tragedy alone. And that too, was strikingly familiar. I could have been back in Brigantine Beach after Hurricane Sandy. I could have been in Joplin in 2011.

It’s because of those past experiences in places like New Jersey and Missouri that I have faith that Moore will emerge from the wreckage of this tornado stronger than ever. And that’s in part because I know that they won’t undertake the road to recovery alone. This was a national tragedy, and that demands a national response.

If you want to help, the best way to support those affected by this storm is to make a financial contribution to the voluntary organization of your choice. The best way to volunteer is to affiliate with an organization that is already providing support to survivors.

We’ve set up a page to help steer you in the right direction. Check it out to get started:

http://www.whitehouse.gov/oklahoma

Thank you,

President Barack Obama

Amway India Chairman & Directors bookedAmway India Chairman,

Amway India Chairman & Directors booked

Amway India Chairman, 2 Directors remanded to 14 days custody

 

Direct selling firm Amway’s India Chairman and CEO William S Pinckney, an American national, and two company directors, arrested in connection with three cases of alleged fraud, have been remanded to 14 days judicial custody by a local court at Kalpetta in Kerala.

Pinckney and directors Sanjay Malhotra and Anshu Budhraja were arrested by the Wayanad Crime Branch (Economic Offences) wing from Kozhikode yesterday in connection with three fraud cases registered in Wayanad district.
Kalpetta Judicial First Class Magistrate N Ravishankar last night remanded them for 14 days.
 
They were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints filed by two persons in 2011.
The Crime Branch (Economic Offences wing) had last year conducted searches at the Amway offices at Thrissur, Kozhikode and Kannur districts as part of its crackdown on money chain activities.
Amway, for its part, said it was cooperating with the investigations of the Kerala Police CB-CID further to the complaint filed in 2012 and Pinckney, Budhraja and Sanjay Malhotra have always been present to answer any queries of the police.
 
“With respect to the Wayanad case of 2011 for which it is believed that arrest warrants have been issued, the company or its officials have not been issued any summons to join the investigation nor was any information sought”.
 
“In this respect, the company management would have been happy to cooperate with the Wayanad Police in that matter as well, as we always have as a law abiding corporate citizen, following all laid down laws of the land,” it said.
The Wayanad Police had received four complaints against the firm.
 
Although the three executives had obtained anticipatory bail in one case filed by Vishalakshi, for which they appeared for questioning, they were arrested on the basis of three complaints filed at another police station in the district.
 
The three complainants Jafar, T Ashraf and P Hareendran had alleged that in 2002 Amway India attempted to collect money from them with the intention to deceive them by involving them in a money-chain scheme.
Vishalakshi alleged in her complaint that Amway agents collected Rs.3.5 lakh from her for products sold by the companies and asked her to add more members to the chain.
 
As she could not add more members, she sought a refund but the agents refused.
Following her complaint, last year, the Economic Offences Wing of CB-CID arrested Raj Kumar, who was in-charge of Amway’s Kerala operations, and seized products worth Rs 17 lakh.