On 28th October, Shankar Sharma, vice chairman, First Global Stockbroking Pvt Ltd, lost an appeal before the Securities Appellate Tribunal (SAT) against an order that barred him from the capital market for a year. This pertains to a 2001 charge of synchronised and fictitious trading to create artificial volumes in certain scrips. At the time of going to print, Mr Sharma and his lawyer said...
The realty sector was among the worst hit when the global financial crisis led to the market meltdown in 2008. Top developers were desperately lobbying the government for a bailout and pleading for unrealistic interest rate reductions to avoid lowering prices. Finally, residential prices dropped around 30%, but it was hardly enough, given the sharp increase in the previous four years. The...
India has too many regulators with far too many powers and negligible performance
On 3rd October, the Central Bureau of Investigation (CBI), which is armed to the teeth to intrude into the lives of any Indian, moved court to drop the cases against Ottavio Quattrocchi. Earlier, it had asked for the Interpol Red-Corner notice against Mr Quattrocchi to be removed. The businessman, a close...
