“GREED IS GOOD”- Gordon Gekko.
Insider Trading never got so much media attention in India though its widely practiced in India.
Rajat Gupta – a journey from orphanage to the board room of the most powerful company to the jail . He was the poster boy of American dream for every Indian . I first learned about him after he founded ISB , Hyderabad .
I started admiring the american judiciary system , they don’t let you off the hook if you are guilty unlike our indian judiciary system where rich and powerful stay free.
Insider trading is widely practiced on dalal street through BBM service as you can’t get caught through it & SEBI isn’t very strict about the insider trading , we have a law enacted for it but no action . The court case is of the most face HUL-Brooke bond insider case is still pending with court and the accused are still practicing trading .
Our judicial system is rigid and has pending case dated back to up to 25 years or may be more . Various committee and their reports have been presented and no sublime measure have been taken to take care of the problem & nexus between the senior executive and trader’s still continues.
Until & unless we don’t accept the problem , we can’t find solution to the problem.
P.S – Rajat Gupta case if trialed in India , would he be sentenced ? I doubt . Sad but true this is the faith of a common man in our system .
P.S.S – Just one of my random Thought. N.O.M