Letters: Unholy nexus

it is high time that Sebi came out with regulation tol make it difficult for listed entities to make surreptitious deals that benefit certain individuals and companies

This refers to Nivedita Mookerji’s report “Auditors raise eyebrows at DLF take on Vadra dealings” (October 9). It is obvious that Arvind Kejriwal and India Against Corruption are more keen on going after Robert Vadra than DLF for sensational value. But if the nexus between the realty major and Vadra is proved to be true, then it will be interesting to know whether DLF, as a corporate entity and a listed one at that, had the required approval of stakeholders for entering into such transactions and/or whether proper disclosures were made post-facto. Again, it is high time that the Securities and Exchange Board of India (Sebi) came out with a regulation that will make it difficult for listed entities to make surreptitious deals that benefit certain individuals and companies, and are not in the normal course of business. This will also be a beginning towards eliminating the contentious issue of political funding through sham deals between companies and political parties. Meanwhile, minority stakeholders at DLF need to take up the matter with the DLF Board as well as Sebi so that the company is forced to come out with all the details on this issue. After all, it is their investment in the company that is at stake.

V Sridhar Kolkata

...or media hype?

It is a matter of common knowledge that property prices all over the country have gone up considerably over the last two decades. In metropolitan cities and suburbs, the appreciation has been many thousand times over. Those who bought properties at the right place and right time have become immensely wealthy. Sonia Gandhi’s son-in-law has every right to take wise business decisions and increase his wealth. One wonders why the media is making an issue of Vadra’s wealth when investors in property have made handsome profits all over the country. There is no allegation that he has taken money from the government or misused any licence or concession obtained from the government.

P S Pandyan Chennai

Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number