Financial Chakravyuha

SEBI chief Madhabi Puri Buch was in her element at the out-of-turn press conference on a rain-ravaged day in Mumbai last week. In an obvious reference to scores of listed dud companies, she said “we do not like Abhimanyus, nobody should feel that once they get in, they cannot get out. Therefore, we introduced a framework for voluntary delist.” Son of Arjuna, the great warrior Abhimanyu in the epic Mahabharata was taught how to break into the powerful military formation Chakravyuha, but he did not learn how to get out of it. With growing global uncertainty and renewed enthusiasm in domestic markets, investors don’t want to be caught in Chakravyuha like Abhimanyu.

Broadcaster pulled up

Recently, the National Commission for Protection of Child Rights (NCPCR) issued a notice to Sony Pictures Networks for airing “inappropriate content” in an episode of a kids dance reality show called Super Dancer 3. According to Priyank Kanoongo, Chairman, NCPCR, the video was flagged by an activist group. In its notice, the Commission said, in the video clip, the judges were seen asking a minor “inappropriate questions” that were disturbing in nature. The Commission has asked for a response from the broadcaster and also directed the channel to take down the video and not to stream such inappropriate content. The video clip is from an episode aired in 2019, as the grand finale of Chapter 3 of the dance reality show.

ED behind you

A listed real estate company which has its base in Karnataka is under the spotlight for its political connections. Ever since the new regime took over in the State, shares of the company have zoomed nearly 50 per cent outpacing the sector and broader index in the last three months. The association of a leading minister with the group is being talked about in the corridors of power. There are apprehensions the group might come under IT and ED scrutiny. The minister, who has been listed among the richest legislators in the country, seems to have assured the company’s management that they will have the full backing of the ruling regime in the State. For now though, the company is riding high.

Reward for informers

Illegal dumping of waste in open and public spaces continues to remain a headache for Kerala’s local bodies. However, a unique initiative by the Local Self Government department to reward alert citizens who provide information about violators seems to have generated much enthusiasm.

Those providing information need to provide photograpic/video evidence of the vehicle/persons involved in dumping waste in the public spaces. The local bodies concerned will provide a share of the penalty to them as a reward for identifying the violators. The involvement of the public has reduced the burden of the short-staffed health wing in municipalities and panchayat.

A fine of ₹25,000 for disposing waste in a public place would earn a commission of ₹6,000 for the informer.

Open sesame

Financial sector regulators have begun reviewing their existing regulations placing the proposed amendments for stakeholders’ comments. No doubt a welcome move, this is being carried out to implement a Budget announcement of the Finance Minister. Experts, however, feel that the regulators would do well to also collate the comments or suggestions they receive on the exposure draft and make them public for larger regulatory good.

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