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