THE CALCUTTA BORN AMERICA RESIDENT 'RAJAT GUPTA' WAS SENTENCED TO TWO YEARS OF PRISON ON ACCOUNT OF FEEDING INSIDE INFORMATION TO HEDGE FUND OWNERS..BETTER KNOWN AS INSIDE TRADING IN THE SHARE MARKET.
THE JUDGE CITED THAT HE MAY HAVE BEEN LONGED TO ESCAPE THE RESPONSIBILITY ON GROUNDS OF HIS REPUTATION AS A SAMARITAN.HE ALSO REFUSED TO GRANT BAIL ON GROUNDS OF PENDING APPEAL.
THE ABOVE TRIAL IN U.S SHOULD BE A EYE OPENER FOR DECISION MAKERS IN INDIA TO PONDER ABOUT.IT IS A COMMON FACTOR IN INDIAN CAPITAL MARKETS THAT INSIDE TRADING TAKES PLACE.
DESPITE OF THE LAW,SELDOM HAS BEEN THERE ANY EFFORTS TO CATCH THE CULPRITS .THE GOVERNMENT OF THE LAND DO NOT HAVE A WILL TO ENFORCE THE LAW,AS DONE BY THE AMERICANS.
WE SHAMELESSLY FOLLOW THE WESTERN TRENDS NOW A DAYS.BUT WE DONT TAKE LESSSON FROM WHAT THEY STILL PRESERVE.
THEY,EVEN TODAY,DO NOT LIE UNDER OATH.AND THEY PROTECT THEIR LEGAL SYSTEM FROM ENCROACHMENTS FROM CORRUPTION,ADMINSTRATIVE PRESSURES ETC.
THE LEGAL AUTHORITY IN THE COUNTRY IS OFTEN OVER POWERED BY CORRUPT GOVT. MINISTERS AND OFFICIALS AT LARGE.
THIS MIRROR OF AFFAIRS IN THE COUNTRY HAS TO BE CLEANED BEFORE IT IS TOO LATE.
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