In the legend of the Sword of Damocles, the threat of punishment is ever-present, and creates a climate of fear as the victim waits for the inevitable fall of the sword on their neck. In CSFB's case, its experience in India may have been more of a Poppadum Guillotine, but after months of waiting, a great deal of appeals and being accused of some previously unknown things, such as circular trading, it has finally received a two-year ban.
However, a closer look at the ban tends to suggest there is an element of face-saving in this from the regulator's perspective. From what FinanceAsia can gather no fresh evidence was found by...
