Collective Investment Schemes: Ponzis and PMSs?

Sebi is thinking of acting at last but how long will it be before we get  effective action?

On 25th November, a caller from Hyderabad—let’s call her Indira—asked if I take up investor grievances. Since I do help cases of ‘genuine’ distress, I asked for details. Indira said that she and a bunch of colleagues working at ITC Ltd had deposited their money from employee stock option plans (ESOPs) in...

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