Wednesday, June 20, 2012

Vested interests

This is dangerous news. Some time back, SEBI and RBI had taken actions against Sahara group asking them to refund investors' money collected through circumventing the regulations. The case was referred to Allahabad High Court.

Now the Parliament wants to pass a law to allow Sahara type of transactions to go without any regulatory supervision. It beats one to see why the nation's Parliament should pass a law that blunts the teeth of the regulators appointed by the same Parliament to allow one particular group.

Well, there could be many conspiracy theories. Is there some vested interest? Or is there a link between this move and the Samajwadi Party extending support to Pranabda as President?

The thought is scary.