The story involving two of the greatest icons of crony capitalism in India, wherein the former was tapping and recording conversation of the latter would be considered as one of the biggest stories of recent times.
Restoring the credibility of the NSE is far more important than the questionable reputation of the individuals at the helm of affairs who file defamation suits and fail to report RIL insider trading and refuse to be transparent.
This allegation of the information Commissioners having a pro- establishment slant is best illustrated with a real example of an appeal involving Reliance (RIL) which was decided by a three member bench during the period when the selection of the Chief Commissioner was taking place.
The ‘strange’ thing that begs attention is why would HSBC apologize to an Indian businessman if they had not officially given the list to anybody?
Greek journalist Kostas Vaxevanis recently published a partial list containing details of 2059 bank accounts allegedly secretly held by Greeks in a Swiss branch of HSBC.
The Commission has directed SEBI to disclose the names of entities which were allegedly involved in the insider trading of shares of Reliance Petroleum in 2007.