Letters

At the outset, I congratulate you and the author of the article “Are Options an Option?” published in the December issue. The article not only evaluates various aspects of FDI policy but also gives voice to the practical difficulty faced by the local/ domestic business houses that raise the funds thru FDI route.

We earnestly request you to use your good offices to take up this issue to the concerned body at the RBI and other appropriate forum and I am sure that they will issue suitable circular clarifying the position once for all. I am sure that many of our fellow members in the industry will be immensely benefited and boost the FDI in India.

— Ketan Mehta

Editor,

We refer to the article of Mr. Anup P. Shah published in the December edition of BCAJ on the issue of “Are Options an Option?”. The article vividly brings out as to how options are different and how and why the treatment suggested by SEBI is incorrect and erroneous.

To make the issue properly known to the Regulator and various executive director/s of SEBI, we sincerely request you to send the same to the Chairman and Executive Directors of SEBI. By representing and putting across the issue threadbare, the BCAS will have rendered valuable service to large number of financial intermediaries in correct interpretation of the law and convince SEBI to withdraw or amend erroneous notification / interpretations.

Since BCAS is a leading professional organisation, it can share various thoughts transparently, fearlessly and in larger interests of the economy. It can also take up the matter at appropriate forums to save the industry from prolonged and costly litigation and saving in time and energy of professionals.

— Mukesh Shah
Chartered Accountant