Veritas bitterness ….

Veritas bitterness…..

A few days ago,I had read an interesting editorial in the Financial Express of 3rd March 2012 titled “VERITAS CURAT” on certain financial mismanagement in DLF.

Here is the link to the article for those who would like to read the same:http://www.financialexpress.com/news/fe-editorial-veritas-curat/919386/0

In response to the above,I had written a LETTERS TO THE EDITOR . My letter has been published in FE of 9th March 2012.

Here is what my letter says :

Letters to the editor

 Posted: Friday, Mar 09, 2012  

: Veritas bitterness

Apropos of the editorial “Veritas curat” (FE, March 3), the DLF management has termed Veritas’ report as “mischievous”. It is not clear on what basis DLF made that sweeping statement, without spelling out the reasons why Veritas needs to be naughty in the first place. Did Veritas have any personal interest or conflicts with DLF, for exposing the chinks in DLF’s armour? That fundamental question remains unanswered. It is well known that Veritas is Canada’s largest, trusted and most followed independent equity research firm, which has been used by investors and regulators, and is respected and accepted by the courts, since it is judged to write objective fundamental research reports, which all concerned can rely on. Their research reports are based on and prepared after thorough considerations of all aspects of a company’s financial reporting, disclosures, business-model, etc, with a view to guide investors and public while making important investment decisions, by using what is commonly termed as “forensic accounting” approach involving a careful understanding of all financial information provided by a company. So, when DLF accuses Veritas, it should understand that when you point your finger at someone, three fingers are pointing back at you. Let DLF make a bold effort to let the truth be known, if it wants to win back the public’s trust, instead of showing signs of indigestion, as truth is always bitter.

JS Broca, New Delhi

Your comments and feedback will be appreciated.