Corruption
CBI arrested Avarjeet Singh, a Deputy General manager (DGM) of SEBI for demanding and accepting a bribe amounting to 10 lakh (US$18,200) on 1st June 2012.The DGM was denied bail by a sessions court on 20 June 2012. Taking a tough stand, the court observed (among other things), "when our country is fighting against the menace of corruption, if a high ranking official of SEBI is granted bail, that will send wrong signals to the society". The Gujarat High Court granted him bail on 26 June 2012.
On 9 August 2012, Minister of State in Finance Ministry, replying to a question in the upper house of Indian Parliament, Rajya Sabha, said that three SEBI officers were under investigation for corruption. The officers were Assistant General Managers Jerome K Alexander and Rajesh Pratap Singh and Deputy General Manager Avarjeet Singh.
Read more about this topic: Securities And Exchange Board Of India
Famous quotes containing the word corruption:
“Blest paper-credit! last and best supply!
That lends corruption lighter wings to fly!”
—Alexander Pope (1688–1744)
“Keep your hands clean and pure from the infamous vice of corruption, a vice so infamous that it degrades even the other vices that may accompany it. Accept no present whatever; let your character in that respect be transparent and without the least speck, for as avarice is the vilest and dirtiest vice in private, corruption is so in public life.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“I condemn Christianity. I raise against the Christian church the most terrible accusation that any accuser has ever uttered. It is to me the ultimate conceivable corruption. It has possessed the will to the final corruption that is even possible. The Christian church has left nothing untouched by its depravity: it has turned every value into a disvalue, every truth into a falsehood, every integrity into a vileness of the soul.”
—Friedrich Nietzsche (1844–1900)