If the market regulator wants a mutual fund manager to film his/her visit to a company’s plant, one must comply. After all, no one wants to get into the watchdog’s bad books. So, a money manager on a plant tour was capturing every step with his high-end phone. All was going well, until a security guard came running out of nowhere, snatched the device and smashed it on the plant floor.
“Photography/Videography not allowed,” the guard yelled. And just like that, the mutual fund manager said goodbye to Rs 60,000! If this is not costly compliance, tell us what is!