Sebi gets it right on consent orders

Last week, Shah Rukh Khan patronisingly offered to pay the fine for his public offence of smoking—his tone implied that the fine was complete redemption. This reminded me of our youthful calculation during our hostel days at Delhi University, comparing the cost of paying bus fees (R2 per trip) with paying the fine for ticketless travel (R20). Given the crowded DTC buses with overwhelmed conductors, many day scholars with genuine monthly bus passes, and short travel distances, we estimated that the odds of getting caught without a ticket—lower than 1 in 10—made it rational to not buy tickets and pay the fine when caught.

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