Defending Sebi on Saradha scam

The CBI last week searched the residences of three officers of the Sebi in connection with the Saradha Ponzi scheme

Topics
SEBI | Central Bureau of Investigation | Saradha chit fund scam

Debashis Basu 

Debashis Basu

The Central Bureau of Investigation (CBI), often termed a “caged parrot”, last week searched the residences of three officers of the Securities & Exchange Board of India (Sebi) in connection with the Saradha Ponzi scheme. The news passed off with barely a murmur, but the hapless Sebi officials concerned would be left with dealing with ignominy and stress.

To us, the silly CBI action on a scam that erupted a decade ago seems laughable. But it is not only sinister and perverse, but the CBI’s raid raises several larger issues that the government ought to address ...

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First Published: Sun, March 28 2021. 23:42 IST
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