| Did you know that half the companies on the Bombay Stock Exchange (2,750) have been struck off the rolls? As many as 11 million citizens have lost over Rs 10,000 crore and many million dreams.
The sordid stories of stock market fiascos will not stay buried for long.
Keeping the flag of investigative journalism flying, The Express group has launched a campaign, ###SQ###Loot & Scoot###SQ###. Under this, The Indian Express picks up the trail of companies long gone cold. The publication brushes the dust off balance sheets, talk to investors about what happened to the amounts they invested in the stock markets. The newspaper plans to look at the reasons behind why these houses of cards collapsed and chase the promoters down to where they live.
"Regulators just stood and watched as promoters robbed small investors (widows, pensioners and middle-class families) and heavy-duty financial institutions, and walked off whistling in the wind… The sordid story must be told to ring-fence the market from fly-by-night operators," says a prepared statement from the company.
The media house has reportedly put its entire editorial might - 15 dedicated reporters in Mumbai, Pune, Delhi, Chandigarh, Kolkata, Chennai, Baroda and Hyderabad, besides the whole Express editorial team - behind this campaign. |