Powerless Regulators

The giant Oil & Natural Gas Corporation Ltd (ONGC) has the dubious distinction of topping the list of companies with the maximum number of pending investor complaints. It has been on this list since 2004 after its controversial listing when the registrar, MCS, cracked under the pressure of handling subscription and allotment. For the 2000-odd people who are waiting for refunds from Reliance...

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