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A SEBI crackdown has revealed that Bharat Global Developers Ltd used every trick in the book to drive up its share price so its preferential stockholders could make a killing. What remains unexplained though is the little-known firm’s dealings with Reliance.

The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
The Tata Group’s silence and absence from Ahmedabad on the first anniversary of India’s worst air disaster risks putting a dent in its much-vaunted value system.
While the regulator’s interim order alleges massive irregularities, the long arc of unfinished probes, hearings and appeals makes closure distant.