Some stuff I am reading today morning:
Indian Energy Exchange IPO opens today (MC)
IPO Analysis: General Insurance Corp (SP Tulsian)
The Jay Amit Shah story (Op India)
Turnaround at ITI? (Forbes)
Stop wasting time (Microcap Club)
This single idea is worth atleast 100,000 $ (Katusa)
Family owned businesses do better than the rest (WP)
Why my Mom beats all Chief Investment Officers (Market Fox)
The thrill of losing money by investing in a restaurant (New Yorker)
Australia’s luck has run out (Bloomberg)
One reply on “Linkfest: October 09, 2017”
Amazing that the story that says ‘High on facts, low on innuendo’ starts with an innuendo on the author or the Wire article!
Anyone who thinks this was kosher means there should be many such firms. So they should be able to find a firm of some standing growing its revenue from 50K to 80cr in a year, most of it (51 cr) from sale of products, with practically no fixed assets, no inventories. Let them find another similar one of some standing and that would be a killer defence. I am willing to wager they will not be able to find one that has an unqualified opinion from a reputed auditor.
Otherwise most of these firms that show high turnover spikes in a year are used to launder money. For eg the company acts as an agent to get a project using various political connections, then receives payments that are then taken out by the promoters. There are many variations that have been tried by various people including politicians, in the past.
A shell company in the true sense.