The Covid -19 situation resulted in the availability of a ‘private /isolated work environment’ and ‘absence of any immediate physical supervision over’ the ‘Jadugar’ who had ‘access to a mobile while in his office which he had not disclosed’ and this ‘gave him the necessary means to be in touch with the outside world to indulge in private dealing without the knowledge of his employer’.
Stumped? Well, these intriguing extracts are from the fine print of the market regulator’s interim order in a high-profile front running case involving a leading mutual fund. The order slapped a market ban on multiple entities and ‘Jadugar’ was apparently the nickname of the alleged mastermind dealer behind the shenanigans, who was subsequently sacked. Lots of lessons for the mutual fund industry? You bet!

As it turns out, the new Niti Aayog Chief BVR Subrahmanyam wrote the charter for the organisation that he is heading. At that time, as part of the Prime Minister’s Office, he was entrusted by Nripendra Misra, the former Principal Secretary to the Prime Minister to draft the charter of this organization replacing the Planning Commission. Reportedly, he wrote the charter in about four hours or so! A trusted lieutenant of PM Modi, BVR Subrahmanyam, was also among a select group of people who knew about the scrapping of the special status of Jammu and Kashmir before the announcement.