HORROR SHOW AT HALAL STREET

 The worst fears are becoming a reality. Today the market was butchered        by more than 600 points on the BOMBAY STOCK EXCHANGE. The whole of last week was dominated by the NATIONAL SPOT EXCHANGE LIMITED. The crisis of payment default looms large. The promoter of NSEL, MR. JIGNESH SHAH is distancing himself from the payment crisis that has affected thousands of investors. I would like to ask the regulator the following questions.

1.  From where is the NSEL going to pay 55740 million rupees  to its investors?

2.  Why a period of 30 to 40 weeks to finish the payout?

3.  Where has the commodity stocks disappeared from the exchange against which the money was lien?

4.  Was the regulator in deep coma when such a fraud was nurturing?

  What is going to be the result of a depreciating rupee for our country?   I have some views which are listed below.

 1.  Will INDIA be downgraded by the foreign credit rating agency?

 2.  Will INDIA be given JUNK status by the investors from abroad?

 3.  Are we heading towards the band of 4800 to 5500 on the NATIONAL STOCK                EXCHANGE?

 4.  What will happen to the mutual funds in INDIA?

 5.  Is the rupee heading to 64 levels versus the dollar?

 6.  From where is INDIA going to finance its CURRENT ACCOUNT DEFICIT?

I think that today quite a few heads must be rolling in the FINANCE MINISTRY and the PRIME MINISTER OFFICE. I think the country needs a very strong dose of drastic measures to put back reforms on track and invite FOREIGN DIRECT INVESTMENT on a mammoth scale.

Let us hope for the best and keep our fingers crossed.