The Pyramid Saimira order is a landmark in SEBI's history. It seems to be grounded in high quality investigative work and if it survives appeal, it will put a new level of fear in the minds of the bad guys. On this, read : Palak Shah in Business Standard, and Vivek Law and Priyal Guliani in Mint.
Writing in Business Standard, Sunil Jain reviews the fracas about Indians holding money in Switzerland. For recent research on capital movements through trade misinvoicing, see this work by Abhijit Sen Gupta, Ila Patnaik and me: slideshow, paper. While on this subject, see Somasekhar Sundaresan in Business Standard on the messy legal foundations of India's capital controls. The system of control that seeks to tie down India's capital flows is grossly out of touch with the realities of India's openness today.