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Reliance Power trying to rush with IPO by modifying originally proposed terms in order to avoid public scrutiny and answers to key questions related to corporate governance.
SEBI has cleared it without addressing concerns of Reliance Energy investors.
Discount to retail investor is only a gimmick. High premium being charged from public who are being hoodwinked with a facility to pay in installments. Promoters enriching themselves with shares issued at cheap price.
SEBI should not allow the IPO to go ahead without studying the verdict of Securities Appellate Tribunal and courts. Public should not suffer.
Poor corporate governance already affecting power sector. Consumers suffering due to high tariffs and erratic supply. Several Resident Welfare Association's (RWA's) in East Delhi have written a letter to Delhi Power Minister A.K.Walia demanding better power infrastructure including improved wiring and street lighting and pruning of trees on wires and eliminating growing regular power cuts.
Regular four to five hour daily power cuts are taking toll on daily life of residents and students. Most of the kitchen gadgets do not work on invertors, same is with washing machines. Daily house hold chores go haywire due to power cuts.
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