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Thursday, Apr 08, 2004

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ONGC shares

This is with reference to the editorial "Registrar in the dock" (Business Line, April 7). As the editorial rightly points out, the confusion in the ONGC share allotment has brought under scrutiny the role of registrars in a public issue of shares. The Centre must see to it that the interests of the retail investor are protected.

As pointed out in the editorial, "The resultant post-issue mess, involving the issuer, the stock exchanges, the investors and the Securities and Exchange Board of India, besides the registrar,has taken the sheen off what has been a highly successful season for the government-issuer."

It is unwise to the role of the registrar for granted.

M. Kumar

Chennai

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

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