Letters

Letters to the editor dated July 16, 2021

| Updated on July 16, 2021

Market dynamics

This has reference to ‘Punting on bankruptcy’ (July 16). Notwithstanding persisting Covid-related restrictions on economic activities, the stock market is vivacious, and that is attracting continuous inflow of funds, and retail investors aren’t an exception in investing and trading in the highly volatile market.

Snared by the battered prices of the shares of companies that are facing corporate insolvency resolution under the Insolvency and Bankruptcy Code, the investors, particularly retail investors, are trading in those stocks without knowing their pros and cons.

As significant market and liquidity risks are inherent in the trade, it is essential to disclose full details of such shares. To protect the interest of the investors the market regulator must ensure that the Resolution Professional discloses to the stock exchanges the details about the pattern of sharing of the proceeds of the resolution among the creditors and the overall status of the equity holders in the company which is under the resolution.

Besides, the stock market brokers must warn their clients about the status of the insolvency resolution if any when the investors and/or traders begin to deal with those equities and debt instruments.

VSK Pillai

Changanacherry, Kerala

Vaccine coverage

This refers to ‘Vaccination pace hovers at halfway mark’ (July 16). This is worrisome, especially when the news of the third wave is looming large. Till date, only 39 crore vaccinations have been administered across the country.

Considering our total population as 130 crore, and each to be given two doses of vaccination, we require roughly 260 crore vaccines. The pace of vaccination is yet to gather momentum, and 100 per cent coverage appears to be a formidable task.

RV Baskaran

Chennai

In poor light

This refers to ‘Football’s ugly underbelly’ (July 16). Football is the most loved and followed sport in the world, where passion runs high. The violence and racial abuse witnessed after the final match of the Euro Championship were distressing, and should have no place in any sport.

The way some of the England fans abused a few players on social media sadly got more coverage than a superb Italy win.

Bal Govind

Noida

The right move

Soon after taking charge, it is commendable that the Chief Justice of India, NV Ramana, has focussed on issues such as the problems in the legal system, benefits to the lawyer community, sedition cases under Section 124A, and filling up the unfilled posts in various courts.

He has recommended to the government the deletion of Section 124 A, which was included by the Britishers to help jail Indians who went against their rule.

A number of petitions have been filed highlighting the chilling effect the sedition law has on the fundamental rights of free speech. The CJI has also spelt out the need to remove some of the age-old and obsolete laws in the legal system.

The government should see the remarks of the CJI in positive light and change/delete certain sections of law which are detrimental to the interests of the general public.

TSN Rao

Bheemavaram, AP

Enhancing skills

This is with reference to ‘Skill development of new generation is national need’ (July 16). The Prime Minister is right in saying skilling the young is the need of the hour. One of the reasons why India could not create jobs for millions is the faulty education system, which believes in rote learning. To churn out jobs/skilled workers, more emphasis should be given to research and innovation.

This should begin at the school level, for which dedicated and quality teachers are a prerequisite. The lack of government support for research is also a reason for the dearth in talent.

Veena Shenoy

Thane

Published on July 16, 2021

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