As we reported last time, the Zee group is among the big corporates that got away with a mere warning from the SEBI whole-time member, TC Nair, for its role in the Ketan Parekh scam, despite copious evidence of its extraordinary fund transfers through accounts in Global Trust Bank (GTB). We now learn that the Zee group had actually indicated to SEBI officials that they would be willing to pay...
Gammon India: On 19th April, a financial daily reported that Gammon India had bagged a Rs800 crore order to develop 15 acres of land. The share price jumped on the news. In an interesting response, Gammon pointed out that the paper had exaggerated the size of the order, which was for Rs338 crore “and not Rs800 crore, as has been wrongly stated in the media.” It put things in perspective...
Please refer to Sucheta Dalal’s piece “Expert’s Losses” as part of the True Lies section in the 24th April issue, in which you covered the case of Prime Securities. Let me also bring to light the duplicity of this firm in its recent announcements which has resulted in many investors like me losing heavily. In their announcement on 27th March to the stock exchanges, they said that the Rs38...
