“I had sanctioned a hefty loan to a large business group. A week later the owner of that group called me up saying that he had got a call from an influential politician’s office to pay up a certain amount, which would then be adjusted against his dues to the bank… under the NPA head, of course. I called up the politician and made it clear that my bank would support no such deal. A few days later I got a call from a senior ministry official asking me if I would interested in taking charge of another PSU bank. I knew this time I had over reached myself, and my days in the current job were numbered. So I agreed to the offer. But there was no word from the finance ministry after that. A few weeks later, I called that person and asked if there was some progress on the earlier conversation. I was told that post could be mine if I was willing to shell out money.
“Do you know what the going rate for a PSU bank chairman’s post is? Take a wild guess,” he said.
“Rs 10 crore,” I replied.
“It can go up to as much as Rs 40 crore, depending on the importance of the bank. I told him that I don’t have even Rs 4 crore on me, leave alone Rs 40 crore. I never heard from him again,” R said.-from FirstBiz
Double death of decoupling
Linkfest:Feb 11,2014
Some stuff I am reading today morning:
A PSU bank top job goes for 40 Crores & Liquor Barons get away with murder (FirstBiZ)
The great milk robbery (BL)
How Rahul Gupta built a multi-crore company in less than 3 years (ET)
In Narendra Modi,Big Money backs the Wrong Man (Mint)
Tata Sons charts new growth path (BS)
Dummies guide to becoming a stock expert guide on Twitter (Prashant)
Best pension plans in India-How to choose them (BasuNivesh)
Bad is stronger than good (Pragcap)
John Templeton:The Last Yankee (CrossingWallStreet)
Does trend chasing explain the financial markets? (NoahOpinion)
The minimum investment is 1 Crore.Anyone interested can mail me at Contact Alpha Ideas
[gview file=”https://alphaideas.in/wp-content/uploads/2014/02/Coinvestment-Note-Bangalore.pdf”]
Portfolio of Satpal Khattar in India
This post is in continuation of my coat tailing series (see here)
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Satpal Khattar is a very prominent Singapore Resident of Indian Origin and is one of the wealthiest NRIs in the world.
His significant portfolio holdings as on 31 Dec,2013 as per stock exchanges is as given below:
Symbol | Entity | # of Shares | % | Date End |
BHAGYNAGAR | SATPAL KHATTAR | 1907405 | 2.98 | 201312 |
DCB | SATPAL KHATTAR & SHAREEN KHATTAR | 3242296 | 1.3 | 201312 |
DCM | SATPAL KHATTAR | 200000 | 1.15 | 201312 |
INDIAINFO | SATPAL KHATTAR | 8950085 | 3.03 | 201312 |
INTENSE TECHNOLOGIES | SATPAL KHATTAR | 497558 | 2.6 | 201312 |
SEQUENT SCIENTIFIC | SATPAL KHATTAR | 1699018 | 6.34 | 201312 |
STAR | Satpal Khattar | 1412500 | 2.37 | 201312 |
TFL | Satpal Khattar | 680000 | 2.78 | 201312 |