In a very precise and accurate article in these columns, Debashis Basu, who knows a thing or two about the stock market, has said the real issue in L’affaire Adani is price rigging of monumental proportions. Debashis is the founder of the online journal Moneylife. He and his wife Sucheta Dalal have exposed many scams.
The natural follow-up question to this is, where are Indian regulators when they are needed the most? This can be asked, in differing degrees, of all our regulators: Securities and Exchange Board of India (Sebi), Reserve Bank of India (RBI), Telecom Regulatory Authority of India
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