Monday, February 21, 2011

BREAKINGVIEWS - India corruption travails could presage catharsis | Reuters

BREAKINGVIEWS - India corruption travails could presage catharsis | Reuters: "It's easy to see why investors in India are running scared. Two top tycoons have been hauled in by investigators in connection with a mounting telecoms scandal, inflation is rampant and the government seems paralysed.

The Sensex has dropped 11 percent this year. And the shares of Reliance Communications, chaired by Anil Ambani, one of the two tycoons questioned by police, have been hammered: they are down 36 percent. The other is Prashant Ruia, chief executive of Essar Group. Neither has been charged."

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