Lies and chits

Lies and chits

* This refers to the report 'Bengal's chit fund kingpin's run through N India ends in J&K, held in Sonamarg' (IE, April 24). It is a sad story of powerful persons ganging up to exploit innocent citizens.Chit fund companies operate with impunity and even the vigilance of SEBI does not deter them. The kind of impunity they enjoy cannot be possible without the collusion of politicians and police. Ordinary citizens are assured of rich returns and are made to invest in unauthorised schemes. It is time the government brought in strict regulations to make it impossible for chit fund companies to deceive the public.

S.C. Vaid

Greater Noida

Ask no questions

* THIS refers to Shekhar Gupta's article 'Crony, crawly capitalism' (National Interest, IE, April 13). I appreciated the tragi-comic picture of business tycoons presented in the article. Spiked with wit, the article speaks of some serious issues that corporate India is grappling with. As pointed out by Gupta, it is demoralising that corporate India evades real and pressing issues because of its inability to muster the courage to ask vital questions of leaders like Rahul Gandhi and Narendra Modi. The real question in the corporate circuit seems to be: who will bell the cat? It is also depressing that corporate India resorts to sycophancy when it comes to political leaders. What is even more dispiriting is that the few who have dared to articulate their concerns have been treated vindictively in return. The article paints a bleak of picture of Indian capitalism, suggesting that the road to economic recovery is full of potholes.

Girish Dani

Executive member, FICCI


Judgement call

* IN HIS article, 'Court at crossroads' (IE, April), Pratap Bhanu Mehta has been rather harsh on our judiciary. Perhaps the lower judiciary has its warts, but the higher echelons have acquitted themselves with distinction. Over the years, the executive has lost its core of steel. Politicians have adopted the way of the streets and have no scruples about beating up policemen who hand them traffic challans, for instance. The free press breaks laws in sting operations and calls it a moral right. Civil movements led by vacillating leaders lose momentum and go astray. Everyone seems to be working towards a change for the better, yet the state of the nation deteriorates.Given this situation, the judiciary is vital to holding the nation up.

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