SEBI created with much fanfare following the Stock market scam, we expected that it will be like SEC of the US.
It’s a pale imitation, a toothless tiger, which hasn’t been able to protect thousands of ordinary investors who have lost crores by subscribing to various sham public issues, the companies have vanished without a trace. Number of Teak Plantations rackets and other kinds of NBFC’s like CRB and Kuber, etc. have vanished with substantial amount of deposits.
Sahara is another one which gives us jitters.
SEBI hasn’t been able to apprehend or punish even one single swindler. Yet the gullibble public keeps on investing in all kinds of funny schemes in the hope of striking it rich.