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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
If recent investigations by SEBI into cases of fraud by listed SMEs are any indication, a scam running into lakhs of crores is in the making, putting the entire financial system at risk.
A near Rs 2 lakh crore “shell company” scam is playing out among publicly listed small and medium enterprises in India. The sheer enormity of it is way beyond anything previously thought possible, based on the stray cases that have come to light every once in a while.
“The conservative estimate is that the market value of these shell companies would be in excess of Rs 1 lakh crore. It can go up to as high as Rs 2 lakh crore as a hundred or more such companies are operating in this space,” says a senior Securities and Exchange Board …
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
