19 Apr 10 IRDA vs. SEBI: Government Passes the Buck – as usual!

VN_Blog - irda - vs- sebi

The current spat between SEBI and IRDA not only exemplifies our shoddy policy-making, but also exposes how spineless our government can be. Especially when there are powerful lobbies on both sides.

Surely, when we have two important government regulated regulators behaving like petulant, spoilt siblings, its time for the government to step in and clarify the law?

However, the Finance Ministry conveniently passes the buck. To the Judiciary!

Let the courts decide, they say. Who cares that the laws themselves have not been framed properly?

When our politicians squirm out of difficult decisions like this (and I can think of plenty of other instances), how on earth can they accuse the judiciary of exceeding its powers?

Arun Jethmalani

Arun is one of the founders of ValueNotes. Apart from trying to build a high-quality research business, he has spent the last 27 years researching, analyzing, and dissecting companies and industries. He has worked with clients of all shapes and sizes, from all parts of the world – in providing them insights that make a difference to their business.
Prior to ValueNotes, he was an equity analyst/advisor, and wrote extensively on investing – including a column titled “Value for Money” which ran for 10 years in the Sunday edition of the Economic Times. To this day, he remains an avid “value” investor.
He has also been published in several other publications, and is a regular speaker at events related to technology, investing, competitive intelligence, business process management, Internet, etc. See: Valuenotes Events
He has been instrumental in developing a community of research and intelligence professionals in India, and is the founder and current chairman of the SCIP (India) Chapter. Arun holds a B Tech from IIT, Bombay and an MS from Duke University, NC, USA. LinkedIn Profile

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