The Securities and Exchange Board of India headed by Shri C.B.Bhave is taking a laid back approach to prosecute Reliance Industries Chairman, Mukesh Ambani indicted in insider trading in his own Reliance Shares. Information sought on the case has been denied and a shameless response which states that SEBI is not bound by Time to complete an investigation was furnished to us.
Compare this to SEC in the United States – The officials have gone public about the Massive Insider Trading which includes the big names of Wall Street and the report will be released within the next week which has sent markets across the world shivering in today’s trade.
A Strong Regulator without Political Interference is a Must for the smooth conduct of Financial System and whether it is Ambani or Gandhi or Tata, nobody is above the law of the land. Mr. Bhave we request you to take suitable action without any delay now.
What is SEBI? Security Exchange Board of India. Whose security ? Whose exchange ? Whose board? Whose India? SEBI is a namesake body having limited powers to control giants in industries. SEBI & RBI are pliable tools for RIL. If all prevalent laws are implemented strictly in toto, RIL will be in the last stage of bankruptcy and dissolution. RIL board members are either retired government officers who have benefitted RIL during their tenure in government service or Dhirubhai Ambani’s family loyalists. RIL had invisible government of its own.
Please refer to Facebook :Bankimchandra Desai