The Sheth brothers-Bharat Sheth and Ravi Sheth-are the promoters of GE Shipping.
Collectively, they own around 38 Lakh shares of Financial Technologies -around 8.24% of the company.
Today, Financial Tech crashed by an astounding 66%, a loss of Rs.356 per share due to rumours of a payment crisis at NSEL
This resulted in the Sheth brothers losing 135 Crores in a single day’s trading session.
Perhaps the oceans of the world are less stormy than India’s financial markets !