It is still unclear whether Madhabi Puri Buch adhered to the more stringent government regulations or to SEBI's 2008 Conflict Code.

The broader issue here is the lack of codified rules for conflict of interest within SEBI — a deliberate strategy, perhaps, given that controversies involving trading and investments by senior SEBI officials date back to the 1990s. 

Three years ago, before SEBI barred Anil Ambani from the securities market, the RBI superseded the Anil Dhirubhai Ambani Group's board. The chronology of the group's financial troubles is a good indication of how reluctant the RBI had been to act against the powerful Anil Ambani.

As one of the top-5 capital markets in the world and a key resource mobiliser for the Indian economy, restoring confidence in the independence of our regulatory mechanism is of paramount importance today. What we are witnessing, instead, is a textbook example of how not to handle such a situation. 

Over the past two decades, SEBI has either operated on the directions of the finance ministry or its activities have flown below the radar of any public or political scrutiny.

Documents placed before the IDBI Bank's 'wilful defaulters committee' fail to answer a crucial question: Why wasn't the use of funds better monitored and why were forensic audits not ordered before restructuring loans?

The England and Wales High Court (Chancery Division), while rejecting the Mehtas' plea to discharge the freeze on their assets and release their passports, opened up an extraordinary story of manipulation that has found very little mention or action in India.

The government’s attempt to repeat the Satyam feat of quick crisis resolution has not borne fruit this time.

Almost all the big global names of the audit world have now been hauled up in India for serious lapses. Every major upheaval creates an opportunity for growth.

The Sterling Group resolution is fast emerging as the biggest test of India's bankruptcy code.

Long delays and endless litigation are making banks less keen on the IBC for the resolution of bad loans.

How long will we continue to pay the price for such cronyism, phone banking, perpetual bungling and failed regulation?

Several interesting revelations, including the role of scores of IAS officers and their relatives in the group, have been made as the investigation progresses.

Sources say at least one payment of $2 million has been made in the past two months to ADB for instalments that fell due, and about €600,000 to €700,000 has been paid to KfW.

Jet Airways, which had two former civil aviation secretaries on its board, couldn’t come up with a plan to stay afloat. Will an interim committee with just two months of fresh funding do any better?

RBI is facing at least three specific challenges today.

While PM Narendra Modi is correct in poking fun at the ‘phone banking’ culture that prevailed in the past decades, he has little to show about making PSBs independent or accountable. 

Why are Indian investors so nonchalant about L&T's alleged role in the Cognizant bribery case?