that could be one option as more people can ask to be made parties to the PIL. But everywhere strong participation and awareness is the problem. We need media friends to highlight our efforts.
1 Like
Seems like SEBI has diverted the monsoon clouds from Kerala to tradingqna…
.It is raining(bull shit) continuously frm more than 48hrs…
Anyways, Happy Monsoon weekend!!!
P.S: Net-Worth is defined as the value of all FINANCIAL assets and NON-FINANCIAL assets owned by an individual, minus his or her liabilities, Period.
Lol… And there is this terrific heat in here West Bengal… No sign of monsoon…
All monsoon seems to be at Kerala…
Yes… people should voice their objections…this is a ridiculous proposal…
2 Likes
Thank you for the education sir. What we would have done without you… 
4 Likes
he is a political animal. he wont support unless he sees political gains
2 Likes
Latest rumour is that they are gonna put the minimum net worth at 50L for equity derriatives
1 Like
I have discussed with a few SC advocates …
in such cases where a body makes rules which are excessive and are leading to loss of monetary income to someone it’s better to file a Writ petition in Mumbai HC to prohibit them or stay the action…a PIL would not be appropriate because firstly this is not an environmental or social kind of issue but is based on monetary loss to a certain group due to a policy…
Secondly it’s …1. as per govt policy, 2. Technical based and 3. Rule based issue and court will have to go into lot of technical details to understand it.
So there would be less chances of it becoming successful and court might dismiss it (although you might get advocates who will agree to file it)
Hence a Writ petition to stay an excessive order is more appropriate …which can be filed in HC by one or more persons.
In that case no point worrying too much right now…let’s wait for sebi to come out with the rule first …maybe it might place a soft rule initially so that only little restriction gets placed and everyone doesn’t get affected too much monetarily. In that case it won’t be required to approach the court at all.
However, I feel the need of the hour is for retail traders to come together and form an association, a group. Everyone is scattered right now and it’s difficult to fight for rights in this way. A corpus needs to be created by this group which can help to deal with emergency monetary needs which can help to take up the cause of the group.
6 Likes
SEBI is very harsh. That is why brokers are in fear and stay silent. This is one OLD example.
If you think SEBI will listen to us retailers this time, you might be in for a surprise. The only way now is to lobby hard or go to court. https://twitter.com/nooreshtech/status/434213687167959040
If this happens, I will go to their office and question the Chairman them directly.
2 Likes
Route to court is always open … better would be to approach in a united way instead of individually
2 Likes
I agree. 50L is way too high per individual. I have a feeling that this is gonna happen. Its very difficult to stop SEBI unless big players start speaking up
1 Like
Why will big players speak up for small ones?
It’s survival of the fittest … big fish are always on a lookout to eat small fish.
But why can’t small fish get together and form a big fish …things will become very easy that way …monopoly of autocratic organisations can be challenged that way and they can be subdued
3 Likes
we need the biggest blue whale to stop a tiger shark like SEBI.
Sad part is most retail traders are not even aware about this thing happening.
1 Like
Many people don’t even care. But lets not blame them. Everyone has their life, problems, opinions. Many people just support the strongest person/group. So if you ask for support, you have to first show that you are eligible…
Yu to mai akela chala tha magar, log judte gaye, karvaan banta gaya…
2 Likes
I agree…an association is urgently needed
2 Likes
Don’t worry …they’ll come to know about it soon
I imagine min. 50L is for MF AMs.
If traders like you and I are asked 50L, then SEBI should close the Exchanges.
2 Likes
I am doubtful if they will set the standards so high
If I have 50L, why will I do a risky business like trading?
With 50L capital I am open to so many risk-less, high reward options.
4 Likes