'Never been such massive scam in Pak history...': Naqvi's bombshell after 'system collapse' remark

 

Days after saying that Pakistan's system of governance has 'completely collapsed' and is no longer capable of addressing its mounting political and economic challenges, the country's Interior Minister Mohsin Naqvi drops another bombshell.

“I don’t think there has ever been such a massive scam in the history of Pakistan, where judges, bureaucrats, politicians and bankers were all involved. For 21 years, money was paid, and people kept taking it. We will go after each and every person responsible," he said.

Speaking at the Pakistan Economic Summit in Islamabad on Thursday, Naqvi alleged that Pakistan had witnessed its "biggest-ever scam", involving judges, bureaucrats, politicians and bankers.

"I don't think there has ever been such a massive scam in the history of Pakistan, where judges, bureaucrats, politicians and bankers were all involved. For 21 years, money was paid, and people kept taking it. We will go after each and every person responsible," Naqvi said, according to Geo News.

Reiterating his criticism of Pakistan's administrative framework, Naqvi said the country's existing governance structure had failed and was incapable of solving its mounting challenges.

"The system we are living under has collapsed. Problems cannot be solved through it," he said.

The interior minister warned that without structural reforms, Pakistan would still be grappling with the same issues a decade from now.

Calling for sweeping administrative changes, Naqvi proposed creating new administrative units and devolving greater powers to lower levels of government.

According to Naqvi, young Pakistanis are demanding justice, merit-based employment and greater opportunities rather than financial assistance.

"What matters to the common people is that we get justice, that merit prevails, and that we have job opportunities," he said.

Statements by Pakistan's Interior Minister Mohsin Naqvi highlight growing friction within Pakistan's political and military power hierarchy.

Key Highlights of Naqvi's Remarks

• The "Biggest Scam" Claim: Naqvi stated that investigators uncovered the "biggest scam in the history of Pakistan," spanning 21 years. He alleged that systematic bribes were taken across multiple pillars of government, involving judges, bureaucrats, politicians, and bankers.

• System Collapse Assertion: Just days prior at the Pakistan Economic Summit, Naqvi stirred controversy by declaring that Pakistan's decades-old governance system had "collapsed". He advocated for restructuring the nation by creating new administrative units/provinces to fix accountability.

  
  
  

• Zero-Tolerance Warning: Naqvi vowed to take strict action against every individual involved regardless of stature, though he stopped short of releasing specific names publicly.

Broader Context & Power Dynamics

• Backing of Army Chief Asim Munir: Analysts note that Naqvi—who also serves as the Chairman of the Pakistan Cricket Board (PCB)—is a close confidant and widely reported relative of Chief of Army Staff (COAS) Gen. Asim Munir. His comments were echoed by military spokespersons calling for an "administrative reset".

  
  
  

• Friction with the Sharif Government: Naqvi's statements are widely viewed as a direct swipe at Prime Minister Shehbaz Sharif's civilian administration.

• Civilian Pushback: Defence Minister Khawaja Asif publicly fired back, telling Naqvi to start his "revolution" within his own ministry and clean up the PCB before criticizing the broader governance framework.

  
  
  

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‘Mastermind’ of 2,934Cr stocks scam arrested in UP

 

LUCKNOW: In a breakthrough against organised cyber fraud, the Uttar Pradesh Special Task Force (STF) has arrested the alleged mastermind of a nationwide investment scam for duping thousands of investors of a total of Rs 2, 934 crore through fake IPO and stock trading schemes promoted on social media platforms.

The accused, Anurag Arvind Srivastava (36), a mechanical engineer, was arrested from Nagpur in Maharashtra on Aug 2 after months of technical surveillance and intelligence gathering.

Srivastava was wanted in a case registered at the cybercrime police station in Lucknow under the provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act.

According to STF officials, the syndicate lured unsuspecting investors through advertisements on social media platforms and WhatsApp, promising free stock market analysis and IPO investment guidance.

Prospective investors were added to a WhatsApp group, ‘VIP9-6 ACI Exclusive Guidance Group’, where online trading sessions were conducted and screenshots showing huge profits were circulated.

Investors were subsequently persuaded to download ACI Century app, an investment platform that displayed fictitious returns.

Investigators said investors were asked to transfer money into multiple bank accounts controlled by the syndicate. While users saw inflated profits reflected on the app, the funds were never invested in any genuine IPO or stock market instrument.

The investigation began after a Lucknow resident lodged a complaint with the cybercrime police station, leading to the registration of an FIR and an extensive probe into the network’s operations.

“During interrogation, Srivastava disclosed details of a gaming venture launched in 2022 with several associates, including Vinod Kumar Rathore, Vivek Kumar Singh, Shivanika, Nadeem Sheikh, Sudhir, Sanchit and Mukesh. STF suspects the platform was used to facilitate suspicious financial transactions and handle funds generated through cyber fraud,” said deputy superintendent of police, special task force (STF), Sudhanshu Shekhar.

During the raid in Nagpur, the STF seized a laptop, an iPhone, an SUV, three company rubber stamps, 139 corporate documents, six blank cheque books, two SIM cards and two unsigned cheques worth Rs 3.17 crore and Rs 2.5 crore.

According to officials, the syndicate has so far been linked to 3,087 complaints on the National Cyber Crime Reporting Portal (NCRP) and the estimated amount of fraud committed is around Rs 2,934 crore.

Investigators have frozen bank accounts containing nearly Rs 2 crore, suspected to be proceeds of the fraud.

Police records show Srivastava was named in at least 11 cybercrime cases in Lucknow, and a case was alos registered against him in the Andaman & Nicobar Islands, among other parts of the country. He was brought to Lucknow on transit remand and sent to judicial custody.

The STF is now analysing seized digital devices and financial records to identify other members of the interstate network and trace the money trail behind the fake IPO fraud.

The Uttar Pradesh Special Task Force (STF) arrested Anurag Arvind Srivastava (36), a mechanical engineer accused of being the mastermind behind a nationwide ₹2,934 crore fake IPO and stock trading scam.

Key Details of the Fraud

• Accused: Anurag Arvind Srivastava (36), arrested from Nagpur, Maharashtra, and brought to Lucknow on transit remand.

• Modus Operandi:

  • The syndicate ran fake stock market analysis and IPO guidance ads on social media.

  • Victims were added to a WhatsApp group titled 'VIP9-6 ACI Exclusive Guidance Group'.

  • Investors were persuaded to download a fraudulent app called ACI Century, which showed fictitious high returns and inflated profits.

  • Funds transferred by victims into specified bank accounts were never actually invested in genuine market instruments.

• Scale of the Scam:

  • Linked to over 3,087 complaints on the National Cyber Crime Reporting Portal (NCRP).

  • Over 11 cybercrime cases are registered against Srivastava in Lucknow alone, alongside cases in other regions like Andaman & Nicobar.

• Seizures & Freezes:

  • Bank accounts holding nearly ₹2 crore have been frozen.

  • Items seized during the raid include laptops, an iPhone, an SUV, corporate documents, rubber stamps, blank cheque books, SIM cards, and unsigned cheques totaling ₹5.67 crore.

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Investigation expands in Abhijit Deepak case: Focus on family assets and financial transactions

 

Investigation Developments

The inquiry linked to Abhijit Deepak is intensifying, with investigative agencies now scrutinizing his father's assets, income sources, and financial dealings. According to sources, there is a thorough examination of the family's economic activities and property documents.

Reports indicate that the agencies are working to uncover how the family's movable and immovable assets were acquired and whether all financial transactions complied with relevant regulations. This includes investigations into bank accounts, investments, property transactions, and other financial records.

Sources suggest that if any irregularities or discrepancies in documents are discovered during the investigation, the scope of questioning may expand further. However, no agency has officially confirmed that any individual has been charged at this stage. The investigation is ongoing, and final conclusions will be drawn after the agencies submit their reports.

Meanwhile, discussions surrounding the case are gaining momentum on both political and social fronts. Many are advocating for a conclusion only after the investigation is complete, while opposition parties and various organizations are calling for a fair inquiry.

Investigative agencies assert that the examination will be impartial and based on facts. If necessary, further questioning of involved individuals may occur. Currently, all eyes are on the next steps in the investigation and the official report.

The fresh scrutiny and demands for investigation surrounding Cockroach Janta Party (CJP) founder Abhijeet Dipke focus primarily on three key areas of family assets, political party status, and tax liabilities.

A formal request for inquiry was initiated via complaints filed across multiple regulatory and state authorities by Surat-based RTI activist Amit Tiwari.

Key Focus Areas of the Financial Inquiry

1. Probe into Family Assets & US Education Funding

• Father's Income vs. Expenditure: The complaint submitted to the Maharashtra government requests an investigation into the financial assets of Abhijeet Dipke's father, Bhagwanrao Dipke, a retired Junior Engineer (JE) with the Maharashtra Industrial Development Corporation (MIDC).

• Disproportionate Assets Question: The RTI activist raised questions about how a modest public salary (approximately ₹60,000–₹65,000 per month) could cover the expensive costs of funding higher education in the United States, urging authorities to examine if this constitutes a case of disproportionate assets.

  
  
  

2. CJP Registration and Donation Legality

• ECI Complaint: A separate complaint was submitted to the Election Commission of India (ECI) questioning the legal status of the Cockroach Janta Party (CJP).

• Unregistered Political Activity: The activist alleges that CJP has been operating like a political entity and accepting donations without formal registration under Section 29A of the Representation of the People Act, 1951.

3. Tax Liability on Legal Defence Funds

• GST Issue: The activist approached the Central Board of Indirect Taxes and Customs (CBIC) regarding a ₹1 crore legal defence fund pledged by Rajya Sabha MP Kapil Sibal, demanding that an 18% Goods and Services Tax (GST) be levied on the transaction.

  
  
  

Summary of Complaints Filed

Target Authority	Subject of Complaint	Allegation / Requested Action
Maharashtra Government	Financial assets of Bhagwanrao Dipke (Father)	Inquiry into disproportionate assets regarding foreign education expenses
Election Commission of India (ECI)	Regulatory status of Cockroach Janta Party (CJP)	Non-compliance with Section 29A while collecting funds
CBIC	₹1 Crore Legal Defence Fund	Demand for 18% GST applicability on pledged contributions

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2,300% return in five years: This stock fell 20% in trade - check why

 

Shares of Indo Thai Securities Ltd. came under intense selling pressure on Monday, with the stock hitting the 20% lower circuit at Rs 170.25 on the BSE.

At 1:02 pm, the stock remained locked at the lower circuit limit of Rs 170.25, while the BSE Sensex was trading 0.76% higher at 78,686.

The stock has been under sustained selling pressure across multiple timeframes. 

It has declined 24.27% over the past five trading sessions, 32.69% in the last one month, 30.23% over the past six months, and 39.54% so far in 2026. 

Despite the recent weakness, the stock has delivered a stellar 2,291.15% return over the last five years.

The sharp decline was accompanied by heavy trading volumes. At the time of writing, around 1.74 lakh shares, worth Rs 3.14 crore, had changed hands on the BSE, while nearly 52.79 lakh shares, valued at Rs 28.81 crore, were traded on the NSE, indicating heightened investor activity.

The stock has traded in a wide range over the past year, touching a 52-week high of Rs 470 and a 52-week low of Rs 144.

Indo Thai Securities Ltd. is a full-service stockbroking and financial services company headquartered in Indore, Madhya Pradesh. Incorporated in 1995, the company provides trading services across equities, commodities and currencies through exchanges including the NSE, BSE, MCX, NCDEX and MSEI.

It also offers depository services through CDSL, along with mutual fund distribution, IPO investments, bond investments, algorithmic trading solutions and wealth management services for retail, corporate and high-net-worth clients.

Shares of Indo Thai Securities Ltd. have delivered extraordinary multi-year gains—surpassing a 2,300% return over a five-year horizon—driven by rapid revenue expansion and market re-rating in the Indian broking and financial services space.

However, sharp declines or hit circuit limit drops (such as a 20% single-day fall) in high-flying small-cap stocks like Indo Thai Securities are primarily triggered by a combination of profit-booking, cyclical earnings friction, and small-cap market dynamics:

Key Reasons Behind the Sharp Fall

1. Profit Booking After Massive Multibagger Rallies

Having generated multi-fold returns over five years, the stock becomes highly susceptible to sudden waves of profit-taking. When early investors or institutional holders decide to lock in gains, intense selling pressure can quickly push the stock down to its daily lower price band.

2. Liquidity Squeeze and High Volatility

Indo Thai Securities is a small-cap financial stock with relatively low daily floating liquidity. In stocks with thinner order books, even a modest volume of market sell orders can exhaust buyer bids, causing outsized price drops and locking the stock in a 20% lower circuit.

3. Cyclical Sensitivity & Quarterly Earnings Volatility

Broking and financial services firms are inherently cyclical. Their revenue and net margins depend heavily on market trading volumes, client activity, and retail market participation:

• Any quarter-over-quarter (QoQ) moderation in revenues or margin compression from higher operating costs can lead to immediate earnings de-rating.

• When quarterly results fall short of the high growth expectations priced into the stock during its peak, the market rapidly recalibrates valuations downward.

  
  
  

4. Broad Small-Cap & Financial Sector Corrections

During broader risk-off sentiment—where foreign institutional investors (FIIs) trim exposure or the wider small-and-mid-cap (SMID) segment undergoes price corrections—niche broking stocks tend to experience heightened beta and sharper drawdowns than frontline indices.

Summary Table: Risk Profile & Metrics

Attribute	Description / Dynamic
5-Year Trajectory	Multibagger performance (~2,300%+ long-term return)
Key Risk Driver	High price volatility & low liquidity amplifying selling pressure
Business Model Sensitivity	Revenue directly linked to market volume, trading activity, and capital market cycles
Valuation Risk	Prone to sharp mean-reversion when earnings growth slows relative to peak P/E multiples

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Millions solved his physics problems, but few know why HC Verma wrote India's most trusted textbook

 

For generations of Indian students preparing for the JEE and NEET examinations, the journey towards success has often begun with a familiar name on a book cover: Concepts of Physics.

Long before online courses, coaching platforms and AI-powered learning tools changed the way students prepared for competitive exams, H.C. Verma’s books served as a trusted resource for building strong fundamentals in mechanics, electricity, optics and modern physics. For countless engineering and medical aspirants, completing the problems from the two-volume series became a defining milestone in their preparation journey.

However, behind these widely recognised books lies the lesser-known story of the teacher and physicist who created them.

Dr. Harish Chandra Verma—widely known as H.C. Verma or simply HCV—never intended to author one of India's most influential physics textbooks. The idea took shape when he realised that while several excellent physics books were available, none fully addressed the learning needs of Indian students. Determined to bridge that gap, he set out to write a textbook that explained complex concepts with clarity, making physics more accessible to generations of learners.

A brilliant American textbook inspired him—but also exposed a problem

Born on April 3, 1952, in Darbhanga, Bihar, Harish Chandra Verma grew up in a family where education was deeply valued. His father was a school teacher, and Verma developed an early fascination with science.

After completing his B.Sc. from Patna Science College, he went on to earn his M.Sc. and Ph.D. in Physics from IIT Kanpur.

In 1980, he returned to Patna Science College as a lecturer. Every day, he taught undergraduate students using the internationally acclaimed Resnick and Halliday physics textbook.

He admired the book for its scientific depth and clarity.

Yet something kept bothering him.

Many bright students struggled to connect with the examples, language and style of explanation. The textbook assumed a classroom environment and life experiences very different from those of students coming from small towns and villages across India.

The problem wasn't intelligence.

The problem was communication.

He didn't translate the book. He built one from scratch.

Instead of complaining about the lack of a suitable textbook, Verma decided to create one himself.

Years of classroom teaching helped him understand exactly where Indian students got confused, what misconceptions they carried, and how concepts could be explained more naturally.

The result was Concepts of Physics, first published in 1992.

Unlike many textbooks that focused heavily on formulas, H.C. Verma encouraged students to ask why before learning how.

And numerical problems that tested understanding rather than memorisation.

The formula worked.

Within a few years, the book became one of the most recommended physics texts for JEE aspirants. Eventually, it also became a favourite among NEET aspirants, Olympiad students and engineering undergraduates.

Today, countless coaching institutes across India still recommend it as one of the best books to build conceptual clarity.

From Patna to IIT Kanpur

In 1994, Verma joined IIT Kanpur as a faculty member, where he spent more than two decades teaching and conducting research in experimental nuclear physics.

Alongside teaching, he published 139 research papers, contributing significantly to his field.

But even as a professor at one of India's premier engineering institutions, he never lost sight of his first passion—making physics easier for ordinary students.

Many of his lectures, demonstrations and classroom sessions continue to be freely available online, helping students far beyond IIT Kanpur.

Making physics affordable—and enjoyable

H.C. Verma believed that science should not depend on expensive laboratory equipment.

To make physics accessible to every classroom, he developed more than 600 low-cost physics experiments using everyday materials that teachers could easily replicate.

In 2011, he helped establish the National Anveshika Network of India (NANI) under the Indian Association of Physics Teachers (IAPT).

The initiative encourages hands-on science learning and now supports learning centres across different parts of the country, helping teachers make physics more interactive and enjoyable.

Education beyond classrooms

Even after retiring from IIT Kanpur in 2017, Verma chose not to step away from education.

Instead, he devoted more time to Shiksha Sopan, an educational initiative he co-founded near the IIT Kanpur campus.

The organisation supports children from economically weaker families by providing academic assistance, mentoring and learning opportunities. Over the years, it has benefited hundreds of students and families.

His belief has always been simple: quality education should reach those who need it the most.

A Padma Shri—and the gratitude of millions

In 2021, the Government of India honoured Harish Chandra Verma with the Padma Shri, recognising his immense contribution to physics education.

But perhaps his greatest award cannot be measured by medals or honours.

Every year, lakhs of students preparing for JEE, NEET and other competitive examinations continue to learn physics through the books he wrote over three decades ago.

For many, "HCV" is not just the name of an author.

It represents the moment when difficult physics problems finally began to make sense.

And that may be his greatest legacy—that he didn't merely teach equations; he taught generations of students how to think.

Disclaimer: This article is based on publicly available information about Dr. Harish Chandra Verma's life, academic career, published works, interviews and official recognitions. It is intended for educational and inspirational purposes.

Dr. Harish Chandra Verma wrote Concepts of Physics not out of ambition to author a bestseller, but out of frustration with how physics was being taught to Indian students in the early 1980s.

Prof. H.C. Verma demonstrating a measurement experiment. Source: Wikipedia

The Turning Point at Patna Science College

After completing his Ph.D. at IIT Kanpur, Dr. Verma joined Patna Science College as a lecturer in 1980. He quickly noticed a glaring disconnect in his classroom:

• The Foreign Textbook Dilemma: The gold standard for conceptual physics at the time was Fundamentals of Physics by Resnick and Halliday. While brilliant, its advanced English and cultural contexts (references to baseball, American football, or unfamiliar real-world scenarios) created a language and cultural barrier for students from non-English background schools.

• The Rote-Learning Alternative: Local Indian textbooks solved the language problem, but sacrificed conceptual depth entirely. They relied on formula memorization, repetitive numerical patterns, and exam-oriented shortcuts rather than teaching how to think like a physicist.

Seeing bright students struggle to develop genuine curiosity, Dr. Verma realized India needed a bridge: a textbook that offered the mathematical and conceptual rigor of international standards, but explained in clear, simple language with everyday Indian context.

The 8-Year Crafting Process (1984–1992)

Writing the two volumes took eight years of continuous refinement, testing every problem against real classroom interactions:

1. Relatable Everyday Scenarios: Instead of abstract particles, problems featured monkeys climbing ropes, cars navigating Indian traffic, and children playing on swings. Physics was brought into the immediate environment of the student.

2. "Questions for Short Answer": Dr. Verma deliberately included non-numerical, thought-provoking questions at the start of each chapter to force students to question their physical intuition before reaching for a calculator.

   
   
   

3. Self-Contained Rigor: The mathematical apparatus (calculus, vectors) was introduced progressively within the physics context so students wouldn't need a separate mathematics prerequisite to understand the first few chapters.

When Volume 1 was published in 1992, it became an instant phenomenon across India, eventually becoming the definitive foundation text for millions of engineering and science aspirants.

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