In your interest.
Online Personal Finance Magazine
No beating about the bush.
These are confusing times. A few months ago, the world was worrying that the US faces a 1930s kind of Depression. The market was assuming that we were headed for a worst-case scenario. The media was full of gloom and doom stories. Governments all over the world became desperate to get growth going by pumping hundreds of billions of dollars into the system. Many experts still doubt whether this...
If people are naïve enough to believe that auditors will do their job diligently and protect the interests of shareholders and that their reports are sacrosanct, they are living in a fool’s paradise. The Companies Act 1956 has an idiotic provision that the auditor should be appointed at the AGM (annual general meeting). Everyone knows that even if all retail investors assemble at the AGM to...
ML: What is your sense of the economic situation?
Puri: I think people are overreacting on the economic slowdown in India, especially media and industry. I have just spent the morning convincing a foreign banker that things are different in India and the fears of foreigners are exaggerated. India is basically a story of domestic demand. The only local issue, if at all, that we have is...