SEBI: Capricious obstructions

SAT orders have exposed SEBI’s caprice

Several orders of the Securities Appellate Tribunal (SAT) have begun to expose the capriciousness of the Securities and Exchange Board of India’s (SEBI) dealings with intermediaries and investors. A glaring example was a recent appeal by accounting major PricewaterhouseCoopers (PwC) which enjoys little public sympathy after repeated gross professional...

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