Comment - 2

Prof. Varma has written an outstanding, book-length piece. From 2000 onwards, as many of these stories were unfolding, I kept myself superficially aware of what each of them was about. This article was the first time that I got a coherent, well thought out piece which put these facts together with a unifying conceptual framework. I hope everyone connected with these questions in India - board members, auditors, regulators, policy makers-will take time off to read the article.