Group and Feedback
The alleged fraud reported by Hindenburg is directed against a specific Indian group. It is ridiculous to regard it as a “planned attack on India” (p. 1, “Hindenburg Report driven by an ulterior motive, says Adani Group”, January 30). With stock markets taking a hit since the report became public, one is left wondering whether the regulator, the Securities and Exchange Board of India, is diligently performing its statutory obligations of ensuring transparency and good corporate governance. Is. The allegations leveled by the US-based agency are serious and the stakes involved are high as public sector units are affected. The silence on the part of the government is really puzzling. Will there be a mention of this issue in the budget speech of the Finance Minister?
SK Chowdhary,
Bangalore
The response by the group is both weak and unconvincing. The market reaction points to one thing: all is not well with the group. The short seller report is a wake-up call for lenders, investors and regulators and the government.
Prabhu Raj R.,
Bangalore
Apart from the denial of serious allegations, the fact remains that the core regulatory bodies have no control over the quality of auditing/accounting of corporates. Perhaps businesses that are heavily indebted to banks should be audited under the supervision of the Reserve Bank of India or the Comptroller and Auditor General of India. This will add credibility to the financial reports of such firms present in the market.
Geeta BK,
Mangaluru
travel and influence
The completion of Congress leader Rahul Gandhi’s 135-day foot march has silenced those who doubted his dedication and perseverance in achieving an uphill task. However, the big question is still ripe: can the Congress party use the momentum created by the yatra to rejuvenate itself and transform itself into a formidable force? For this to happen, it calls for a spirited commitment to rejoin the party.
Michael Jom,
Thiruvananthapuram
When it is not easy to keep itself in tune with the Bharatiya Janata Party’s perception, the Congress’s Bharat Jodo Yatra has been a platform for those who do not fully agree with the ruling party’s style of functioning. It is too early to say how far the visit will influence the election outcome, but, as Mr Gandhi has said, it seeks to uphold an alternative vision for India.
Preeta Salil,
Mumbai