Well, that must be an exaggeration, right? How could SEC (through the Corporate Fraud Task Force; July 26, 2007 data) tout 1,236 final convictions in the past five years, while SEBI have very few? 
Shamefully, the fact is that not only does SEBI have less than a handful of convictions annually to boast of, but also that even the number of investigation cases being completed has declined by a massive 55% (from 179 in 2005 to a pathetic 81 in 2006), & that too when all indices are rocking up to historical highs!
Be it the IPO scam, wherein SEBI issued interim orders against Indiabulls & Karvy, or be it the decision to ban Ketan Parekh, or the promoters of Adani Enterprises from entering capital markets, due to the utterly shallow prosecution procedures of SEBI, firms have found it too easy to get stays on orders issued by the regulator (On July 14, 2007, SEBI suffered another of the by-now-familiar nose cuts when Securities Appellate Tribunal – SAT – set aside SEBI’s order against Adani).
For Complete IIPM Article, Click here
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Shamefully, the fact is that not only does SEBI have less than a handful of convictions annually to boast of, but also that even the number of investigation cases being completed has declined by a massive 55% (from 179 in 2005 to a pathetic 81 in 2006), & that too when all indices are rocking up to historical highs!Be it the IPO scam, wherein SEBI issued interim orders against Indiabulls & Karvy, or be it the decision to ban Ketan Parekh, or the promoters of Adani Enterprises from entering capital markets, due to the utterly shallow prosecution procedures of SEBI, firms have found it too easy to get stays on orders issued by the regulator (On July 14, 2007, SEBI suffered another of the by-now-familiar nose cuts when Securities Appellate Tribunal – SAT – set aside SEBI’s order against Adani).
For Complete IIPM Article, Click here
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
