Politicians and Bureaucrats along with unethical Business Houses including Foreign Investors, Banks, Stock brokers, etc mostly from Dalal Street together have caused a revenue loss of Rs 40,000 Crore to Rs 50,000 Crore to the Government of India since 2002 by means of Consent Orders passed by SEBI.
What is a Consent Order ?
SEBI is a regulator for Stock Market and related entities. It investigates the wrongdoings and fines the culprits. The Culprits without admission or denial can settle the case by means of Consent Order. SEBI officials have the right to settle and they often get directions from the Finance Ministry [In Case of Abraham – SEBI Board Member, who acted as Whistleblower [PDF] to the Entire Scam and our Honorable Prime Minister did nothing]
All the RTIs filed with SEBI to make the details of Consent Order available went in vain and they challenge the common man’s RTI appeal in the High Court of Mumbai where our quest for information ends. However, one determined soul has bought SEBI to his knees by challenging them in the High Court of Delhi and the honouarble court asking SEBI to explain the process. Hopefully the Consent Order Scam will come to an end very soon. Stay tuned for details of Consent Order scam involving Reliance Mukesh Ambani.
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