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By:

Waleed Hussain

4 March 2025 at 8:04:30 pm

Masters of the Three-Hour Party

Congratulations, West Indies. You’ve done it again. You’ve reminded the world that when the music is loud, the boundaries are short, and nobody has to bat longer than it takes to finish a Red Stripe, you remain an absolute force of nature. Chasing 250 against India in Ranchi with Shai Hope smashing an unbeaten 102 off 45 balls and Sherfane Rutherford going berserk for 84 off 37? Pure Caribbean swagger. Second-highest successful chase in T20 history. Cue the fireworks, the Instagram reels, and...

Masters of the Three-Hour Party

Congratulations, West Indies. You’ve done it again. You’ve reminded the world that when the music is loud, the boundaries are short, and nobody has to bat longer than it takes to finish a Red Stripe, you remain an absolute force of nature. Chasing 250 against India in Ranchi with Shai Hope smashing an unbeaten 102 off 45 balls and Sherfane Rutherford going berserk for 84 off 37? Pure Caribbean swagger. Second-highest successful chase in T20 history. Cue the fireworks, the Instagram reels, and the inevitable “West Indies are back!” headlines from people who only watch cricket when it fits between dinner and bedtime. It’s almost touching how reliably the Windies can summon this brand of chaos. Give them 20 overs, a flat pitch, and the promise of franchise contracts, and they turn into a travelling carnival of six-hitting. Rutherford swings like he’s still in a Caribbean Premier League final. For three hours, they are irresistible, making you believe the old magic never left. And then the sun comes up, the pitch starts offering a bit of bounce or turn, and the same team suddenly looks like it has collectively forgotten how to hold a bat for more than 40 minutes. Test cricket continues to treat the West Indies like a particularly cruel practical joke. Bowled out for 27 by Australia in Jamaica. Regular sub-200 totals that barely last until the drinks break. A collective batting average since 2020 that makes you wonder if some of these players have ever seen a red ball outside of a museum. The once-feared pace attack is now a polite suggestion. The batting line-up, once stocked with men who could dominate for sessions, now collapses with the consistency of a poorly built sandcastle at high tide. In T20, they are the cool kids at the party - loud, flashy, impossible to ignore. In Tests, they are the ones who showed up without doing the homework and are now staring at the floor while the teacher asks questions. None of this is entirely the players’ fault. The system that produced the greatest teams in cricket history has spent the last two decades slowly dismantling itself with the efficiency of a controlled demolition. Domestic structures that produce short-form specialists rather than long-form craftsmen. Pitches that encourage hitting rather than grafting. A calendar so dominated by franchise leagues that a five-day match feels like an unpaid internship. Why spend six hours a day in the middle grinding out a fifty when you can smash three sixes in an over, collect a cheque, and be home in time for dinner? The board’s financial struggles only accelerate the exodus. Yet the sarcasm writes itself when people still talk about a “resurgence.” A resurgence in T20 is like being the best dancer at a wedding after three drinks—impressive in the moment, completely irrelevant the next morning. The West Indies have been “resurging” in white-ball cricket for years now. They win a T20 World Cup, look dangerous for a series or two, then quietly disappear when the format requires anyone to stay at the crease past the powerplay. Meanwhile, Test cricket, the format that once defined Caribbean identity, that produced Holding, Roberts, Ambrose, Lara, and Richards - continues its dignified funeral. The occasional win against Sri Lanka or a competitive draw is treated like a renaissance. Every time Hope or Rutherford clears the ropes, someone inevitably starts waxing lyrical about the “Caribbean way,” as if the Caribbean way was invented in 2008 when T20 became profitable. The old West Indies didn’t just entertain for three hours. They dominated for five days. They made opposing batsmen question their life choices. They produced sessions of sustained hostility that felt like weather systems. That version of the team is not “adapting to the modern game.” It is being actively replaced by a product better suited to highlight reels and franchise auctions. So yes, celebrate the record chase. Enjoy the sixes. Applaud Hope for looking like a proper leader under lights. Just don’t insult anyone’s intelligence by calling this a balanced resurgence. The West Indies are currently world-class at the version of cricket that requires the least amount of sustained concentration and the most amount of Instagram potential. In the version that still separates the serious from the spectacular, they remain a cautionary tale wrapped in maroon. (The writer is a senior journalist based in Mumbai. Views personal)

Lateral upgrade to ailing annihilation

Writer: Mangesh Kulkarni
Mangesh Kulkarni
Sep 9, 2024
3 min read

Updated: Oct 21, 2024

Lateral upgrade to ailing annihilation

Being the first person from the private sector to be appointed as chairperson of Securities and Exchange Board of India (SEBI) as part of the government’s lateral initiative, Madhabi Puri Buch also holds the honour of being the first woman to hold the top post as capital market regulator.

But the laurels that the former private sector banker enjoyed in her earlier stint with ICICI Bank, was marred with allegations that she and her husband were having a stake in offshore entities, which were used to artificially inflate shares of Adani group companies.

Terming the allegation as `character assassination, Buch clarified that all disclosures have already been furnished and the fund in question did not invest in any securities involving the Adani group.

When it rains, it pours. This allegation was subsequently followed by Congress Party allegation that Buch had received salary and post-retirement benefits from ICICI Bank after she quit the private sector bank.

In its clarification to the stock exchanges, ICICI Bank asserted that the payments made to Buch were purely retirement benefits after her exit from the bank and they were neither salary nor employee stock options.

Prior to these allegations, Buch tenure at SEBI was all about bringing in quick reforms on operational issues by changing the format of consultation paper to bring in larger responses digitally. Being data savvy, the rationale of her decisions were democratic based on big data analysis derived from the responses received to the consultation papers.

Further she bifurcated the duties of the SEBI staff between operations and enforcement, which were done by the same persons earlier. Having worked for the private sector in the capital market domain space, Buch had a better understanding of the subject compared to officers from the administrative service in the past that reflected even in her orders as a whole-time director at SEBI before becoming the chairperson. As a whole time director at SEBI, her orders on adjudication issues were more directional to the capital market space, according to experts in the compliance space. She was also quick to revamp the old provisions of the 90s at SEBI.

Being tech and data savvy, Buch enhanced regulatory surveillance and detection of market manipulation, insider trading and fraud while also emphasizing on strengthening corporate governance by introducing stricter rules for independent directors and enhancing disclosures for related-party transactions.

To put in perspective, the annual report of the capital market regulator in the just concluded financial year revealed that the number of investigations related to insider trading jumped to 175 in 2023-24 from 85 in the preceding year while probes related to front running jumped over three times to 83 from 24 in the preceding year.

Transparency in mutual funds by implementing measures to protect retail investors along with tightening norms for initial public offers, particularly in the SME platforms were some of her other positive initiatives including confirmation of denial of any market rumours within 24 hours for the top 100 listed companies which will be extended to top 250 companies from December 1. However increased transparency and compliance with tightening regulations led to increased operational costs for the market participants and hence faced resistance from certain quarters. Born in 1966, Buch completed her primary education in Mumbai and graduated with specialization in Mathematics from Delhi and later obtained a management degree from Indian Institute of Management, Ahmedabad. In between, she got engaged to Dhawal Buch, a director at a consumer goods multinational at the age of eighteen and got married at the age of 21.

Besides ICICI Bank, Buch also worked as a lecturer at a college in England, worked at Greater Pacific Capital in Singapore and ICICI Securities as its CEO. She also worked as executive director on several private sector companies and as a consultant for New Development Bank (Brics Bank).

What now remains to be seen, is whether Buch, who survived the 26/11 terror attack when she along with her husband, was attending a meeting at Taj, be able to overcome the current ordeal. Keeping fingers crossed for the times to come.

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