There is a grave danger if there’s overregulation—it results in a strangulating bureaucracy. But there are pitfalls of under regulation— it makes those who should be more on their toes to relax and become complacent. In the first, it’s the businesses that suffer; in the latter, it’s the retail investors and poor customers who bear the burden. This is why as India tries to ease the way to do business, she should ensure that the watchdogs are on guard, and don’t abdicate their responsibilities. A classic case where the regulators seem to have gone to sleep is the rich-to-richer story of Avenue Supermarts and its promoter, Radhakishan Damani. Although, the company is performing well, and its stock is flying, there are danger signals that should interest the regulators and watchdogs. At the moment, they seem to be sleeping, and seem unaware of what’s happening. Alam Srinivas reports
gfiles is not merely a collection of articles compiled into a work of art but also a platform to appreciate civil servants commendable work. This issue of gfiles celebrates their remarkable success by providing you full coverage of ‘gfiles Governance Awards 2015’ which was honoured by Chief Guest Shri Narendra Singh Tomar, Minister for Steel and Mines who gave Dr. Anil Kakodkar, Nuclear Scientist The Lifetime Achievement Award. Read our issue for full insight.