Over a couple of years now, we Indians have witnessed quite a few ripples on the financial front. Anomalies like high-handedness have been in the limelight, spelling bad news for the investment climate.
While the government deserves appreciation on rolling back PF withdrawal forms, there is an urgent need to remedy a few more critical issues that can send out signals that we respect corporate governance as much as any other nation.
I was reading this book based on a Mumbai-based entrepreneur. And I was taken aback by how this high-handedness crushed initiatives that were benefitting our Nation along with all stakeholders involved.
Titled – The Target Book, this book is written by ShantanuGuha Ray and highlights how a few of our own politicians and bureaucrats shrugged the entrepreneur – Jignesh Shah and his ventures so that they could be safe and rich.
It was the ruling government that took all possible unwarranted measures to demean a national vision, going to the extent of slapping unlawful orders on Jignesh Shah’s companies, namely National Spot Exchange Limited (NSEL) and Financial Technologies (India) Limited (FTIL).
How could the government expect 63,000 shareholders of FTIL to pay for brokers and market-men transgressions in a crisis that was engineered for selfish motives and stop FTIL in its tracks?
Would urge all of you to read it and decide if what happened was RIGHT OR WRONG!
For more information check The Target Book Reviews.