Today on Just to Clarify we return to some of the fallout of the Satyam fraud scandal.We look at what exactly pledging means, why promoters would do it, who they pledge with, and what this new rule would mean for promoters.
Specifically, we look at the new insistence of the Securities and Exchange Board of India, or SEBI, for promoters of public companies to disclose the shares they have pledged.
Our guest today is Mint’s own Mobis Philipose, who is co-author of our popular Mark to Market column in the newspaper. Mobis has previously worked for Business World, DNA Money and Business Standard, covering the stock markets, and corporate news and analysis. He has an MBA in finance from Bharathi Vidyapeeth in Pune.