What is Sebi thinking?

Proving former Sebi member KM Abraham’s charges that he was under pressure to go easy on the Bank of Rajasthan’s promoter Pravin Kumar Tayal and his group of companies was always going to be an uphill climb, but Sebi has just come out with an order that tends to lend credence to what Abraham is saying. You have to read the order in its entirety (http://goo.gl/Cfe9F) to see just how outlandish the arguments in it are.

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