NSEL, Amway and the law

Abraham Lincoln said: “The best way to get a bad law repealed is to enforce it strictly.” This can be said of many laws in India. The arrest of Amway’s CEO William Pinckney a couple of months ago and the recent payment crisis in the National Spot Exchange Limited succinctly summarise the problems with regulatory laws in India — either they are too arcane or they do not exist at all.

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