Suits & Sayings: Trust No One

Corporate India was stunned when the stock market regulator recently reprimanded this senior executive and old-time loyalist of a storied corporate group for insider trading that even led to a settlement. But what shocked most is the fact that money–amounting to a 10-digit sum— was loaned to the executive from a trust meant for employee welfare and that this in turn was used to buy shares of the group flagship. For a group that has zero tolerance for corporate misadventures, this has been quite unfathomable. After the regulator, will the promoter himself now take action?

(For more on our weekly roundup of wackiest whispers and murmurs in corporate corridors & policy parlours, pick up today's edition of The Economic Times newspaper)