A reader,Ravishanker Poll, shares his angst about Piramal IndiaREIT fund:
With the ‘final’ payout made recently, the IRR works out even lower than 5.06%. Professional Chors who continue to try to get public money with fancy brochures , graphs and whatnot. Once they have your money all the updates are about how difficult the market has become, the gloomiest pictures are presented . I invested 25 lakhs and I was a fool.
Reader Ajeya Sadashivaiah wrote to me regarding the VRL Chairman’s comments yesterday.
Am reproducing Ajeya’s comments in full:
Nitin, I know Vijaya Sankeshwar ( I mean, I know him personally!!).
40 years ago, he started with one truck and grew to this level. He is brutally disciplined, yes he is. Never done anything illegal in his life.
Very honest person, in 1997-98 he started “Vijaya karnataka” kannada daily news paper and changed the dynamics of news paper publishing, it become highly circulated daily in karnataka (it is still No:1).
He sold the news paper to Times group for whopping 300 crore. Sankeshwar family have history in publishing, yes his family still publish “kannada-English” dictionary in karnataka.
Most important thing is “he is not that good in English”, even though he has uttered those words, he doesn’t mean that way. Please understand, the TV host anuj can make anything out of anything.
Now, I know how these media interpret words the way they want.
If Mr. Sankeshwar fail in his aviation venture, he will realize it very fast and will step out of the new venture with minimal loss. Aviation business will be started with his personal capacity will not affect VRL. no guarantee, no loaning nothing will be done. media can make anything out of this.
Still shareholders can oppose this and question this in AGM, but my point is, he doesn’t mean that way. Please check.