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Promoters

The devil you know

Retail investors have fled India’s stock markets and it seems that they are not likely to come back in a hurry.

One big reason is the common perception on Main Street “Sab Promoter Chor Hai” i.e. all promoters are crooks.

The newsflow has also been supporting this viewpoint.

Today Veritas came out with a report indicating that the promoters of Indiabulls Group have swindled large amounts from their companies.

Earlier, the newsreport was how the Deccan Chronicle promoters moved money away from their print media business into aviation.

Next was Arvind Rao of Onmobile passing fake bills from his company.

The less said about the shenanigans of Anil Ambani, Gautam Adani the better.

What is distressing is also the behavior of companies like HDFC. HDFC Life Insurance paid group entities like HDFC Bank and HDFC Securities, excess money in the name of “marketing expenses”. They were paid Rs. 428 cr. and 133 cr. respectively, which was more than 2.5 times the money actually spent.

No wonder the Indian public is turning away from the devils in the stock market to the devils they know best-their local jeweller and the local real estate agent .

That’s assuming they still have money left after paying the bills in an era of low growth and double digit inflation.

One reply on “The devil you know”

THIS IS THE REAL FACE/FACT OF INDIAN LISTED ARENA.I CAN GIVE YOU ANOTHER 100’S YES HUNDERD;S MORE EXAMPLE .TOTAL LISTED CO IN INDIA BTWN 8000-9000. NOT MORE THAN 100 ARE HONEST.

PROBLEM IS THAT WE TALK ABOUT ROSY PICTURES. NOT THE REAL

AND DIRTY TRICKS OF INDIAN LISTED CO’S. ………………………………………….

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