Sucheta Dalal :Deliberate Obfuscation
Sucheta Dalal

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Deliberate Obfuscation  

May 14, 2013

Savers will continue to lose money in chain money schemes because the regulators are pretending not to understand the core issues

Sucheta Dalal

Over the past year, the Securities & Exchange Board of India’s (SEBI) war with the Sahara group has, at least in the public eye, imbued the market regulator with a sense of heroism. SEBI has gone after Sahara with remarkable tenacity—but only on the issue of synthetic convertible debentures issued by two Sahara group companies; it has also made a push to check MPS Greenery and sundry goat-rearing and emu farming frauds, categorised as ‘collective investment schemes’. Once the collapse of Saradha chit fund blew up into a major scandal, SEBI rushed to issue a flurry of orders against the promoters, after pussyfooting on it for three years. 

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-- Sucheta Dalal