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Inside
Absolute Power
How NSE, set up by government-owned institutions, trounced the 100-year old BSE within two years to emerge as a transparent and efficient exchange platform.
How NSE was involved in the Scam of 2001 but emerged unscathed
How NSE launched its co-location services illegally in 2010
How SEBI allowed NSE to get away with repeated transgressions
How SEBI stopped BSE from acquiring CAMS because of conflict of interest while allowing NSE to do just that. It then did an about turn in 2020
How NSE acquired a stake in Omnesys, the subsidiary of a brokerage firm, despite blatant conflict of interest with its role as first-line regulator
How Chitra Ramkrishna’s appointment as NSE’s managing director in 2013 was manipulated and how she ran the Exchange like a private fief
How NSE was repeatedly let off with a warning for serious violations such as fat-finger crash and client code modification
How SEBI buried the algo scam by first asking NSE to fix responsibility, which it failed to do and then deliberately issuing weak show-cause notices.
How the scandalous appointment and exit of Subramanian Anand was an egregious example of what was happening at the Exchange.
Inside
"The Scam"
A fast, colourful narrative, knitting together the life and times of all stock market players involved in two of India's biggest stock market scams. The Scam, a chronicle of two of the most famous scams in the Indian stock markets. First published in April 1993, this 11th printing of the scam includes the original Harshad Mehta Scam and the Ketan Parekh Scam, while also delving into the JPC Fiasco and the Global Trust Bank Scam.
The basic question that the book deals with is, "what really happened in the two great Indian scams?" The answer to this question, detailed in the book, brings up another important one, "Have we learnt anything since, so that such things don't happen again?"
