The Hindu Editorial Vocabulary 14th August 2024

The Hindu Editorial Vocabulary 14th August 2024 is an effective tool for learning new words and their contextual meanings regularly. Candidates can get this resource for free to improve their vocabulary knowledge preparing for government exams.

Hindu Editorial Vocab On Upholding the Integrity of SEBI

Not since the Harshad Mehta scam of 1992 has India’s securities regulations and oversight come under such scrutiny. The Securities and Exchange Board of India (SEBI), which was established as a statutory body that year — it was constituted as a non-statutory body in April 1988 through a resolution of the Government of India — now faces allegations (a statement, made without giving proof, that someone has done something wrong or illegal) of bias and conflict of interest right at the top. The stakes are much higher with the Indian stock market now a $5.3 trillion financial powerhouse. Over the years, SEBI has put in place robust ((of a person or animal) strong and healthy, or (of an object or system) strong and unlikely to break or fail) systems of checks and balances that have constantly (all the time or often) evolved to ensure that India’s securities market and financial system gained the reputation of being one of the most reliable globally. However, the accusations (a statement saying that someone has done something morally wrong, illegal, or unkind, or the fact of accusing someone) of a conflict of interest levelled by New York-based short-seller Hindenburg Research against SEBI chairperson Madhabi Puri Buch in the conduct of the ongoing investigations against the Adani Group, the Ahmedabad-based global infrastructure to FMCG major, for alleged stock price manipulation and corporate malfeasances, have cast a shadow on the statutory regulatory body. The main conflict concerns investments made by Ms. Buch and her husband Dhaval Buch in obscure offshore funds based in two tax havens, Bermuda and Mauritius, where Adani Group Chairman Gautam Adani’s brother Vinod Adani had allegedly also made investments. A second conflict arises over the Buchs’ consultancy firms in Singapore and India that the couple said were used by Mr. Buch to advise “prominent clients in the Indian industry” since 2019. It is not clear if some of them are SEBI-regulated. The Buchs claim that these firms “went dormant immediately” upon Ms. Buch’s acceptance of the whole-time membership on SEBI’s Board. However, Hindenburg, in its rebuttal to this response, claims that not only was the Indian entity functioning but it also clocked revenues of about $3,00,000 between financial years 2022-24.

This is an unprecedented (investigation: the act or process of examining a crime, problem, statement, etc. carefully, especially to discover the truth) case with wide ramifications (the possible results of an action) been under SEBI investigation for charges related to stock market manipulations for the past 18 months. SEBI has said that 23 out of the 24 charges under investigation have been completed. Whether or not Ms. Buch influenced investigations or decisions involving the Adani Group, the real issue is that there can be no room for any lingering doubts about her conduct. It would be in the fitness of things for Ms. Buch to resign from her position to ensure a thorough investigation into the allegations against the Adani Group. After all, the integrity of India’s securities regulatory body itself is at stake.

Hindu Vocab Wordlist 14th August 2024

Upskill yourself and enhance your vocabulary knowledge. Candidates should begin learning new words daily with Hindu Editorial Vocabulary 14th August 2024.

Allegations: A statement, made without giving proof, that someone has done something wrong or illegal

Robust: (of a person or animal) strong and healthy, or (of an object or system) strong and unlikely to break or fail

Constantly: All the time or often

Mauritius: An island country in the Indian Ocean

Accusations: A statement saying that someone has done something morally wrong, illegal, or unkind, or the fact of accusing someone

Ramifications: The possible results of an action

Unprecedented: The act or process of examining a crime, problem, statement, etc. carefully, especially to discover the truth

Hindu Vocab Master 14th August with Synonyms & Antonyms

Know synonyms and antonyms of difficult words in Hindu Vocab Master on 14th August 2024.

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