Battle of Bihar : On hit list is the man who controls US $ 1.7 trillion market
INDIA SAMVAD BUREAU![]()
May 08
23:06
2015
New Delhi: As the big battle of Bihar draws near, the target becomes more obvious and clear. The strategy is to cut the financial pipeline. Vulnerable are those who live in a glass house. Sitting ducks are the ones involved in scandals.
No wonder Bihar Chief Minister Nitish Kumar’s man Friday UK Sinha could be in trouble. UK Sinha, the boss of SEBI controls the capital market worth over US$ 1.7 trillion. Sinha would retire next year but could be out of office before Bihar assembly polls begin around October 2015.
In a secret letter PMO has asked Ministry of Law last week that whether members and Chairman of SEBI, a quasi judicial body could be arrested by CBI. The PMO letter has sent shivers down the bureaucracy in North Block.
Top sources said that Sinha’s role is under scanner in a multi crore Shardha chit fund case. Sinha also came under fire for protecting his CVO in a Bank of Rajasthan scandal. Top BJP leadership suspects that Sinha could provide funds to Janta Parivar in Bihar elections. Sinha has been seen in functions with Nitish Kumar.
In one of the biggest anti-corruption move , the Modi government is now zeroing in on the market regulator. Top sources revealed India Samvad that Prime Minister’s Office has sought a legal view from Ministry of Law to ascertain that whether members and Chairman of SEBI can be arrested by the CBI.
The letter shot off to Law Ministry by PMO has a specific query. The PMO urgently wants to know that can any member or the Chairman of Securities Exchange Board of India SEBI can be arrested. SEBI is quasi judicial body which protects the interests of millions of investors in country. Recently CBI questioned SEBI’s member Rajeev Agarwal in multi crore Sharadha scam. The role of SEBI and Banks are are being probed by CBI in various chit funds scam on instructions of the Supreme Court.
http://indiasamvad.co.in/battle-of-bihar-on-hit-list-is-the-man-who-controls-us-1-7-trillion-market/