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kamikazi | 11 years ago

Denzil - we have bodies and committees for every thing but no action takes place. Our CCI is a joke. There is no anti-trust. And less said about our courts & justice system the better.

Just a small eg: Satyam chief, Ramalingam Raju, picked up the phone and gave himself in to SEBI (US version of SEC) confessing to financial fraud of INR 4000 crores+ massive job losses, massive losses/harakiri in pension/taxes owed to the govt (due to inflated employee #) to the extent of he had one of the big4 auditors in his pocket who signed over falsified bank balance statements. This resulted in govt having to take over the co and auctioning it out to TechMahindra. At the time Satyam was the #3 Software services company in India by sheer revenue and employee size. Raju gave detailed proofs of each of his wrongdoings ("when he could not ride this tiger anymore") and yet it took our courts 7 years + to impose a rap-on-knuckles 7 years of imprisonment and 5 crores of fines. An amount which he could've made bamboozled off in one day of stock manipulation on the exchanges.

So my point is it's one thing to have all these fancy bodies and titles and quite another to have them act on anything.

This recent action against zero-rated apps by one of our telcos, Airtel, is a heartening move which ofcourse morphed into heat brought upon FB's internet.org which is a bigger culprit on net neutrality front.

Way to go online activism in India! (Disclosure: I'm a member of the #SaveTheInternet volunteer group)

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spiritplumber|11 years ago

Quick note on numbers:

"Crore" means 10 million (it's a modifier like "hundred" or "thousand" and does not necessarily relate to money).

10 000 000 Indian rupees = 160 310 U.S. dollars

denzil_correa|11 years ago

I do understand that most of these bodies are toothless but we do have a CCI. The parent comment mentioned that we don't have one and I thought I would mention the fact that we do. As we speak, the CCI seems to be probing Indian telecoms.

http://telecom.economictimes.indiatimes.com/news/industry/cc...

I'm not in favor of zero rating or violations of net neutrality as we know it.

Disclosure : I'm a passive member of the #SaveTheInternet volunteer group (anonymously) too. I really appreciate your efforts and work. I am trying to tell all my colleagues and friends about you guys. Keep going!

flangloria|11 years ago

These commissions are set up here, only after someone from a global body like UN, World Bank, IMF etc complains about their absence.

kamikazi|11 years ago

oh well ...hello! :-) and sorry I kinda took a shortcut to the assumption that you were not an Indian.