At some stage in our lives we fantasize how would life be if we had done IAS. I am sure all of us go through that at least once. I too have had those….thank God I did not do IAS.
Anybody who has been in Mumbai for the past half a century, and dealt with Capital Markets would have known Jignesh Shah, CB Bhave and if you dealt with the Regulator even met K M Abraham.
Well, some other persons who were worth knowing in this context would of course be Mr. Jalan (RBI) and Mr. Sethu (Nism, member Jalan committee). Not sure how many of you read the whole report or at least a synopsis of the Jalan committee report. At a public meeting Mr. Jignesh Shah is supposed to have taunted Mr. Jalan saying “I hope you have read the report”. The bureaucrats who dealt with Mr. Shah did not really endear themselves and Mr. Shah knew that. However he could get his way, and he really went on like a road roller would go. Now some of us can guess and some of us know who was the power behind the road roller. I WISH TO GOD THAT MODI COMES TO POWER and redeems the country from UPA.
In this background (I hope I have said nothing here to prosecute me) I urge readers to search for articles in the press and dig. Read articles about KMA, Bimal Jalan, Jalan committee report (which was not happy even with the listing of NSE – and said that) and said why Shah’s companies should not be listed.
THE ROAD ROLLER WENT OVER ALL THIS – and did what it wanted to do. If I had some kids working with me and ‘VANS’ (remember Value added news service? – I used to use it once upon a time, long long back)…I would have done it.
If you are under 40 years of age, just hit the eject button and migrate. I have no clue where.
I have had difference of opinion with the regulator at different points in time. In fact I do think that they could (should) have done much more..but KMA and Bhave getting prosecuted looks really ironic.
Next to be prosecuted could be the Registrar of Companies – how did he sanction a name which sounds so much like the National Stock Exchange? Well, read that story too.
I am just giving the pointers – feel too lazy and a little worried about what I want to say on a public domain.
It sucks. Happy that I did not do IAS 🙂 . Thank God. My membership is not so bad afterall 🙂
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