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Be Proactive, SEBI!

| 1/25/2012 8:28 PM Wednesday

Be Proactive, SEBI!

Your special report ‘Labyrinth Of Lies’ on the SEBI investigation of recent IPOs made immense sense. It helped in understanding the exact nature of the games that promoters play while going public. 

However, one point that I have always believed in and would like to make through your magazine again is that the regulator needs to be proactive rather than reactive in order to safeguard investors’ interests in a better manner. It is important to not allow dubious companies to go public in the first place, rather than going through long investigation cycles once the issue is through and the money has already been pocketed by the promoters.

Another important point that I would like to highlight is that regulatory action needs to be pursued till the end. There is no way in which lay investors, who are the ones who actually lose their hard-earned money, can keep track of the actions taken against such promoters. I would urge the regulator to keep up the good job of punishing such promoters and thus helping investors.

Moreover, I sincerely appreciate your efforts in bringing out the nuances of the investigation in a reader-friendly manner, which helps people like us to understand these cases better and to stay away from these kinds of IPOs. 

- Atul Shanbag

No Room For Compromise

The Corruption Focus feature ‘Save Our Rivers First!’(DSIJ Vol. 27, Issue No. 3, dated Jan 16-29, 2012) was presented in a good manner. This is really a matter of great concern. History is proof that all major civilisations have evolved on river banks. Till today, we are dependent on water resources, of which rivers are the major source, for a range of utilities like household, industrial as well as agricultural requirements. The misuse of funds allocated for the cleanup of rivers is against the grain of humanity as well as a violation of the fundamental right to live. It clearly shows our moral degradation. 

However, we can't compromise in situations where there are human and ecological concerns involved. It requires strong political will and broader participation from all the stakeholders to save our rivers and uphold our moral values.

- Jawahar Lal Prasad

Corrigendum

In our previous issue (DSIJ Vol. 27, Issue No. 3, dated Jan 16-29, 2012), we had carried a feature on Real Estate in Mumbai (Mumbai: The Niche Real Estate Market). Certain inputs for the feature were also contributed by Ramesh Nair, Managing Director – West, Jones Lang LaSalle India. The error is regretted.

 

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