Musings on India, the law, and policy
Posted in Court on Feb 28th, 2009
Earlier this month, the US Securities and Exchange Commission charged billionaire entrepreneur-cricket promoter Sir Allen Stanford with investment fraud for over $ 8 billion. The SEC has stated the fraud was “based on false promises and fabricated historical return data”. Following the framing of charges, there were several raids by federal regulatory agencies in the [...]
Posted in Uncategorized on Jan 10th, 2009
Continuing from the previous Post, Pathik sends me the following on Clause 49 and the Sarbanes Oxley Act; The Sarbanes Oxley Act was primarily introduced subsequent to the Enron Scandal in order to regulate corporate governance in the US. India however failed to learn from US’s mistakes and did not introduce similar measures in India. [...]
Posted in Uncategorized on Jan 10th, 2009
The Times of India reports of a teacher in a village near Ludhiana losing upto 15 lakhs as a result of the Satyam debacle. Being shocked by the loss, he was about to commit suicide when he was stopped. Im pretty sure that he is not the only one who has been affected by India’s [...]
Posted in Uncategorized on Dec 24th, 2008
As the year is fizzling down to an economically weak finale, Satyam Computers has found itself in a deep mire, with the Maytas acquisition deal coming under strict scrutiny. In an unrelated development, the World Bank later announced its intention to snap all business and development ties with Satyam following allegations of data theft in [...]