Tuesday, December 1, 1998
Stalled reforms
Expectedly, prime minister Atal Bihari Vajpayee told the World Economic Forum that the electoral setback suffered by the BJP would have no fundamental impact on economic reforms. But it was startling to hear him say that his government has "depoliticised" the reform agenda.
Firms in dire straits
The tough get going when the going gets tough, but do they have to keep going by themselves, without any assistance, however well-deserved? Indian companies are beginning to accept increasingly harder options, but it appears the financial institutions are not yet prepared to back their efforts to meet global challenges.
SEBI buyback norms aim at accountability
The Companies (Amendment) Ordinance, 1998, has stipulated that share buyback shall be in accordance with regulations made by the Securities & Exchange Board of India (SEBI). SEBI regulations are elaborate, exhaustive, exacting, and perhaps similar to conditions prescribed by the regulator for issue of securities by listed company.
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