CSE bows to SEBI recommendations

The magnitude of the problem can be gauged from the reactions of a veteran broker, who said he would like to call it a day sooner than later. There are at least five defaulters on the CSE waiting to hear the death sentence. Ironically, investor protection has lost its meaning in the anxiety to reform the capital markets and greedy brokers in particular.

Feedback from the market suggests that if the present trend continues for a couple of months more, at least 50 brokers would be out of business including some veterans who are thoroughly disillusioned with the topsy turvy market.