Letters: SEBI vs SEC

This refers to ‘SEBI has greater powers than US SEC’, October 26. It is stated that the only power that Sebi does not have is to send people to jail and that for all other regulatory action, it has powers to act by itself without having to knock on the doors of a court or a judicial body. Why did Sebi then have to go all the way to the Supreme Court just to question Ramalinga Raju?

While the article may establish that Sebi has more teeth and claws, somehow everyone feels that the SEC has the greater will to bite, no matter how big the prey, and its bite is like that of a Rotweiller. It may be interesting to have details of the fate of appeals on major cases of both regulators.

T R Ramaswami, Mumbai