Basant Maheshwari is a well known investor from Kolkata who claims to have picked up multibaggers and offers his stock selection services to people.
D Muthukrishnan has posted a series of tough questions to him.
Investment advisors cannot charge a fee for stock advice unless they register with SEBI. Let Basant first comply with the laws of the land.
— D.Muthukrishnan (@DMUTHUK) February 1, 2015
BC Q&A has to be audited by SEBI. I feel Basant is operating on the edges with regard to his stock picks. SEBI should investigate.
— D.Muthukrishnan (@DMUTHUK) February 1, 2015
I was not comfortable with BC Q&As. Not comfortable with promotion of his holdings to others inducing leverage.
— D.Muthukrishnan (@DMUTHUK) February 1, 2015
He invests in few small caps. He then channelizes his subscribers (may be hundred crore+ rupees?) to keep on buying them.
— D.Muthukrishnan (@DMUTHUK) February 1, 2015
If he registers as RIA, put BC under SEBI audit, we can be sure there are no grey areas or acting on edges in the way things function.
— D.Muthukrishnan (@DMUTHUK) February 1, 2015
If Basant is as rich as he claims, he would not send me multiple reminders to renew the subscription by paying Rs.1 lakh.
— D.Muthukrishnan (@DMUTHUK) February 1, 2015
5 replies on “Tough Questions for Basant Maheshwari”
I would also consider recommending those MFs who empanel one an advisor as a serious conflict of interest. Quid pro quo, Clarice!!!!
Ha Ha…True !Loved the reference to Silence of the Lambs 🙂
I have not seen D. Muthukrishnan picking up any battle with rampant mis-selling by insurance companies, mutual fund NFO etc. Basant does not do any marketing for his service and he has no agents. He soes not run PMS. It is up to subscribers of his service to decide whether to follow him or not. SEBI has no business in investigating such simple advisory service.
I asked the same question raised elsewhere here as to the registration with sebi.
Basant Maheswari had kindly replied me that he is since he xxxxxxxx to be honest i donot remember that is out of the ambit of registration.
He knows the rules of the land or else when small operators too have closed the books do anyone think he will still operate with this much publicity further he is a visiting professor to many colleges..
sebi has exempted cert ain class of professionals from the ambit of analysts …
about the returns iam not making any statement in a public forum
as regards reminders any marketing co will keep on sending reminders the more agressive they are the more reminders or calls one get… it does not never mean he is having no business..
Basant Maheswari is one of the most respected fudmamental analysts here.. I have been in market since 1985 and know lots and lots
Iam no advocate of Bm nor i know him nor i have susbcribed him directly..
But i have invested in the stocks he has recommended
Dears
Basant Maheswari is not that ignorant to ignore the law of the land
pl read below
His reply to my friend asked of the sebi notification
20 Aug 2014
1)Thank you for your mail. As per SeBI regulations certain disciplines are exempted from this and being a cost accountant I fall in the exempted category:
2) Any one rememeber vls fin premium issue in late 80s ( if iam not mistaken the co name)
They only had the courage that time to come out with that premium for an IPO
like that None in india has the courage or command premium to ask a subscription fee of cool rs 100,000( if that is his latest new tariff … if i heard is correct)
still he gets clients means that talks of his works!
this is private business, in five star hotel coffee servied for rs 250/-
without any bias to anyone
but facts and figures
jacob
They only had the courage