INDIAN EXPRESS - DIFFERENT STROKES

Sucheta Dalal 11 Jun 2007
The Ministry of Company Affairs (MCA) has come to the rescue of Stock Holding Corporation of India (SHCIL), India’s largest depository company, at the intervention of the Finance Ministry. On May 14, an investigation was ordered into the affairs of SHCIL Services Ltd (SSL), once a wholly...

Read More


Sucheta Dalal 04 Jun 2007
While the Reserve Bank of India (RBI) and the Telecom regulator have formulated rules and No Call Directories (NCD) to stop harassment of people through marketing calls, corporate India remains one jump ahead in dodging these rules. Over the past few weeks, there is a big and renewed spurt in...

Read More


Sucheta Dalal 28 May 2007
Stock Holding Corporation of India Ltd (SHCIL) has now petitioned the Company Law Board (CLB) seeking an investigation into SHCIL Services Ltd (SSL) — once its wholly owned subsidiary. In the last several weeks, we have exposed how SSL was virtually filched by SHCIL’s own chairman,...

Read More


Sucheta Dalal 21 May 2007
Anil Ambani recently made a presentation to a select group of investors, laying out ambitious plans for the group’s future. An interesting aspect of his presentation was the forceful declaration that he, obviously in contrast to his older sibling, does not draw a salary from any of his group...

Read More


Sucheta Dalal 14 May 2007
Ever since foreign investors showed the willingness to shell out hefty valuations for a stake in the two national bourses, there is renewed investor interest in running, creating, acquiring and modernising stock exchanges. The latest is an ambitious plan to revive the practically defunct Delhi...

Read More


Sucheta Dalal 07 May 2007
Last week, this column warned that an internal committee appointed by the Reserve Bank of India (RBI) to suggest ways to migrate from paper-based fund transfers to electronic transfers had, in a burst of zealousness, recommended creating disincentives for use of paper based transactions (cheques,...

Read More


Sucheta Dalal 30 Apr 2007
The Reserve Bank of India’s (RBI) effort to encourage people to migrate from paper based fund transfer to electronic transfers is most welcome. It would mean a faster turnaround of funds in the financial system. Unfortunately, in its zeal to promote electronic transactions, the Committee on...

Read More


Sucheta Dalal 16 Apr 2007
The government of India has ordered a detailed probe into the goings-on at Stock Holding Corporation of India Ltd (SHCIL) that have been detailed in these columns over the last six weeks. IDBI Bank (which owns over 16 per cent of the shares) has been asked to lead the investigation and on Friday...

Read More


Sucheta Dalal 09 Apr 2007
Few bankers or bureaucrats have had a more turbulent career than the UTI Bank chief, Dr P J Nayak. In a successful transition from bureaucrat to banker, he steered the bank to growth, profitability and excellence in service quality. He is also hugely respected and even hero-worshipped by the...

Read More


Sucheta Dalal 02 Apr 2007
The Integrated Market Surveillance System (IMSS) has helped the regulator detect a “possible order book manipulation scenario that existed in the trading engines of one of the two stock exchanges”. The Securities and Exchange Board of India (Sebi) informed its board of directors at a...

Read More


Sucheta Dalal 26 Mar 2007
When it comes to protecting foreign investment through Participatory Notes (PNs), even national security takes a back seat. These derivative instruments allow those who are otherwise ineligible to invest in the Indian stock market. The National Security Advisor recently claimed that terrorist...

Read More


Sucheta Dalal 19 Mar 2007
At a time the Securities and Exchanging Board of India (Sebi) board members are also waffling over the issue of introducing mandatory IPO grading, Orbit Corporation was bold enough to opt for it. Contrary to the confidence that this move suggests, the issue got the lowest possible grade — 1...

Read More