Dear Dr Thakur, The SEBI gives its nod to each dick & harry. It never adjudges quality of any IPO. In case SEBI takes any action a company, the SAT sets the company free at a later date. Apart from others, Karvy� consultants� case is� blatant� example in case of IDFC & Yes bank IPO scam where, Registrar to issue, banker to issue have come up as Clean. Hence SEBI is more� frustrated� with the duties entrusted upon it.
You will be aware of the fact, recently SEBI has allowed trading from 9 am in place of ages old 10 am. The SEBI has done the same in pressure &� pleasantries of some vested interested (to my understanding). The trading community, broking community has not gained anything in the deal as such & the business volume has also not increased as it was presumed. To my belief, there is not provision of fund utilisation audit reporting has been devised by Institute of� Chartered� Accountant of India (ICAI). I believe there is no Engineering audit provisions in CAG system too. Trivendra� --- On Wed, 5/5/10, Nutan <[email protected]> wrote: From: Nutan <[email protected]> Subject: [rti_india] Commonwealth games in danger Date: Wednesday, 5 May, 2010, 6:28 PM
