Loopholes In The New Code

Finally Sebi is working on something worthwhile. Last year had been particularly bad for it, what with MS Shoes price-rigging and carry-over effects of the securities scam. Maybe, this was because it took the name watch-dog literally. However, finally Sebi seems to have matured from being a mere spectator (or a watcher if you like) to an active participant. Kudos, to that.

Although the takeover code per say is fine (though not without its various demerits and loopholes), for it does bring to fore the hypocrisy that is so blatantly evident in the actions of our policy makers. One of the primary reasons for the release of a takeover code was given as the elimination of inefficiently run firms