The following question consists of four labelled sentences P, Q, R and S about governance in listed firms and insider trading leaks. When arranged properly, they form a coherent paragraph. Select the option that gives the best order.

Introduction / Context:
This question deals with a paragraph about corporate governance, insider trading leaks via WhatsApp groups, and regulatory responses by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. Your task is to arrange four sentences into a coherent passage. The sentences mention recent efforts to tighten governance, the leak episode, the regulatory investigation, and a comment on the difficulty of using traditional enforcement methods. Understanding the flow of such analytical writing is vital for exam passages drawn from business newspapers and magazines.

Given Data / Assumptions:

• R states that the Ministry of Corporate Affairs and SEBI have redoubled their efforts to put in place a water tight governance framework for listed firms.
• Q points out that recent suspected insider trading episodes through WhatsApp groups show that the framework remains porous.
• S says that SEBI has initiated a probe into this episode, interrogated analysts, conducted raids on brokers and seized digital devices.
• P notes that while it is good that SEBI is acting seriously, bringing perpetrators to book through such traditional methods may be an uphill task.
• The sentences are connected by the theme of attempts to improve governance and challenges in enforcement.

Concept / Approach:
To arrange these sentences, we look for a logical sequence: first the general policy initiative, then the problem that exposes weaknesses, then the specific enforcement actions taken, and finally a reflective critique of those actions. In editorial style writing, the author usually begins by stating the larger effort or context, then presents a case that illustrates the problem, follows with current action, and ends with an evaluative comment. Pronouns such as this episode and these methods also help identify references and ordering.

Step-by-Step Solution:
Step 1: Sentence R is clearly the best opening because it sets out the broad context: the Ministry and SEBI are working hard to implement a strong governance framework for listed firms. Step 2: Sentence Q naturally follows, as it begins with but and describes the recent insider trading leaks through WhatsApp groups. This shows that despite efforts mentioned in R, the framework is still porous. Step 3: Sentence S then continues the narrative by describing how SEBI responded to this episode. It mentions the probe, interrogation of analysts, raids on brokers, and seizure of laptops and mobile phones. Step 4: Sentence P is best placed last because it evaluates the actions described in S. It acknowledges that SEBI is taking the leaks seriously but warns that trying to catch wrongdoers using such traditional search and seizure methods may be very difficult. Step 5: Thus the logical order is R Q S P, which corresponds to option RQSP.

Verification / Alternative check:
If you read RQSP as a paragraph, it forms a smooth, argumentative editorial: first broad reforms, then a leak that exposes gaps, then enforcement actions, then a critical reflection on the effectiveness of those actions. The connectors but and this episode work perfectly in this sequence. No sentence seems out of place, and each new sentence builds logically on the previous one. This confirms that RQSP is the most coherent arrangement.

Why Other Options Are Wrong:
Option QSPR begins with Q and jumps straight into the leak episode without first explaining that SEBI and the Ministry are working on a governance framework, which weakens context. Option SPQR starts with S, describing a probe into this episode before mentioning what the episode is or what larger governance effort it challenges. Option PRQS begins with P, a reflective statement about SEBI taking leaks seriously and the uphill nature of enforcement, but the reader has not yet been told what leaks or methods are being discussed, so the opening is confusing. These problems make the alternative sequences inferior to RQSP.

Common Pitfalls:
Many candidates focus on catchy lines or descriptive sentences and misplace them at the start or end. Another frequent error is ignoring transitional words such as but and therefore. When solving para jumbles, always pay attention to such connectives and to phrases like this episode or these methods which clearly refer back to earlier ideas. Also consider typical editorial structures: context, problem, action, evaluation. Applying this pattern will guide you to the correct order more reliably.

Final Answer:
The best and most logical sequence is RQSP, so the correct answer is option RQSP.