Tvi Express Indias Second most successfull Pyramid Scheme?

The most successful Pyramnid scheme is of course AMWAY
Thats the longest running MLM con

Before i go to the scheme heres a great article on Pyramid schemes from

http://money.howstuffworks.com/pyramid-scheme1.htm

What is a Pyramid Scheme?

The main characteristic of a pyramid scheme is that participants only make money by recruiting more members. There are many different kinds of pyramid schemes, but the two most basic are product-based and so-called naked pyramid schemes.

In a naked pyramid scheme, no product is sold. Here's how it works:

One person recruits 10 other people to participate in a "no-fail investment opportunity."
The 10 recruits each pay the recruiter $100.
The recruiter now tells them to go out and recruit 10 more people to do the same.
If each recruit is successful, they'll all end up with $900 in profit from a $100 investment.

pyramid scheme illustration

Pyramid schemes quickly become unsustainable.

Sounds simple enough, but here's the problem: Let's say the initial 10 recruits each find 10 more people. Those 100 new recruits will have to find 10 recruits each to make $900. That means they have to find 1,000 people willing to sign up for the program. And if they somehow find 1,000 people, that next level of the pyramid will need to sign up 10,000 to make a profit. Eventually, there won't be enough recruits at the bottom of the pyramid to support the level above it. That's when the pyramid topples and everyone at the bottom loses their investment.

A product-based pyramid scheme is the same concept disguised as a legitimate direct sales opportunity. Here's how it works:

A distributor recruits 10 salespeople who each pay $500 for a starter kit of products to sell.
The distributor gets 10 percent of each starter kit that's sold.
The distributor also gets 10 percent of each product that any of his recruits sells, including more starter kits.
The recruits are told that the fastest way to make money isn't by selling products, but by recruiting more people to buy starter kits.
The people at the top of the pyramid get commissions from everyone in their downline, the many levels of recruits below them on the pyramid.

The problem with most product-based pyramid schemes is that the products themselves don't sell very well, or have very slim profit margins. So the only way to make money is to find more recruits. Eventually (and surprisingly quickly), the market becomes saturated. There are too many people trying to sell the same unattractive product and there's no one left to be recruited.

It's mathematically impossible for everyone to make money in a pyramid scheme. For example, if each recruit needs to find 10 more people to recoup the cost of his or her initial investment, the eighth level of the pyramid would have to recruit a billion people to make back their money. And the next level would need 10 billion, nearly twice the population of the Earth.

Studies show that in a naked pyramid scheme, 90.4 percent of people lose their money, while in product-based pyramid schemes, that number jumps to a shocking 99.88 percent


Heres some info from the TVi website FAQ page

1. How much does it cost?
The cost to join TVI Express is USD 250 if paid using prepaid vouchers and is USD 275 if paid by Liberty Reserve or Credit Card. It's a one time out of the pocket expense for a lifetime membership and does not include any recurring charges.

Mynote So you shell out 1000 rs to get in and then to get your 10000 rs back you have to get in two persons with 10000 rs each

2. How fast can I get started after I sign up?
Instantly. You immediately receive your membership backoffice and one click access to all various booking and search engines to start planning your next holiday. You also receive your very own Marketing Package and a self replicating website to start promoting the TVI Express Opportunity and build your way to the financial freedom.

3. Do I need to sell any products?
No. You don’t need to sell any products. TVI Express is a unique e-commerce opportunity allowing you to build the Business around the globe sitting at your home. However, we do support leaders who take initiatives to promote the opportunity offline conducting seminars and workshops about the Opportunity.

my note this is the classic sign of a pyramid scheme .......if you can make money selling the scheme instead of selling a good or a service its a pyramid /mlm scheme

4. Is there a recurring cost or monthly membership payment?
No. There is no monthly payment. Your one-time payment to join TVI Express entitles you to have lifetime access to our upcoming promotional deals, programs and campaigns.

5. What do I need to do to cycle out of the boards?
The first thing you need to do is sponsor two (2) people who join the TVI Express Opportunity. This will qualify you to cycle out of the boards as you progress ahead in the Compensation plan. Secondly, you need to encourage and teach those two downlines (people you sponsored) to sponsor more people and duplicate the process. Following these two simple steps will have you making money even while you sleep

My note Cycling out is a way for this paticular MLM /Pyramid scheme unwitting or willing accomplice to get out of the con with his principal intact
The cash flow if i may call it that is beautiful
The first person pays 10000 to get in he then needs 2 more persons to pay 1000 rs each total 20000 get his 10000 rs back (if at all he gets it back ) he probably will
so if the bakra gets 2 more bakras the cash flow is 20000 rs in 10000 rs plus something called eVoucher worth $250 what an evoucher worth rs 250 $ really gets you is not mentioned

6. Is there any limit on the times I can cycle out of the Express board and earn $ 10,000 each time.
No. There is no limit on cycles. You can earn as much as you want by cycling out multiple times, giving you an opportunity to create ongoing Residual income with each milestone you cross.

7. What is Residual Income? How is it different from Board payouts?
Residual Income ensures that you earn money on every sale in your organization enabling you to earn thousands of dollars with growth of your network. It is different from the Board payouts and gets activated as soon as you cycle out of the Express (2nd) board. With growth of your network, not only you will cycle in boards and earn payouts but will also earn a certain percentage of amount on every person joining your worldwide team. The Compensation plan has been designed keeping in mind the long term growth opportunities, with fast income at every step.

My note that ensures that the person who got out with his principal keeps recruting more people to increase his "network"

8. Is there any capping limit on Residual Income?
No capping, no ceiling and no time boundations. You can earn unlimited amount of income and the matrix structure pays till infinity allowing you to enhance your income every coming week.

9. Can I sponsor more than two people?
To qualify and earn commissions, you need to sponsor two people. However, if you want to progress fast and create multiple legs to ensure faster cycles and enhanced residual income from multiple legs, we do urge you to sponsor as many people as you can and support them at the same time.

10. What do I receive when I cycle?
You get the following commissions after you cycle out of the respective boards :
1) Traveller board : You receive $500 ($250 cash + an eVoucher worth $250)
2) Express Board : You receive $10,000 and a re-entry into the Express Board


Notice how in this long fag they have rarely mentioned what services they are actually selling
There are no details about the holidays the airfares the hotels nothing
All thats hammered in is you make more money if you get in more people

First Call India Equity Advisers Pvt Ltd Violate SEBI rules ...... wonder if SEBI will act

When you are the promoter of a listed company and also are "Offering private equity
advisory and investment banking services" the least you are expected to do is NOT write a equity reserach report advising the general public to go out and buy your own company
But that is Exactly what First Call India Equity Advisers Pvt Ltd did ......
Heres the shareholding of Firstobject Technology a company where Firstcall are as of march 2010 shown as promoters

FIRSTOBJECT TECHNOLOGIES LTD.
Scrip Code : 532379 Quarter ending : March 2010
Shareholding belonging to the category :
"Promoter and Promoter Group"
Sl.
No. Name of the Shareholder Total Shares held Shares pledged or otherwise encumbered
Number As a % of
grand total
(A)+(B)+(C) Number % of Total shares held As a % of
grand total
(A)+(B)+(C)
1 J S Surya Narayana 90,500 0.47 -
2 Dr Vivek Hebbar 45,491 0.24 -
3 First Call India Equity Advisers Pvt Ltd 2,495,576 13.03
Sindhuri Finance Leasing & Investment Ltd 12,000 0.06 -
Total 2,643,567 13.81 -

Now heres a link to the research report
http://www.moneycontrol.com/news_html_files/news_attachment/2010/FirstObject%20-%20firstcall.pdf
Cached link
1 http://webcache.googleusercontent.com/search?hl=en&num=100&lr=&ft=i&cr=&safe=off&q=cache:AE1DRupTUMoJ:http://www.dailybust.com/pdf-files/microsoft-word-firstobject-technologies-ltd-detailed-report-with+%22http%3A//www.moneycontrol.com/news_html_files/news_attachment/2010/FirstObject%2520-%2520firstcall.pdf%22&ct=clnk

2 http://webcache.googleusercontent.com/search?hl=en&num=100&lr=&ft=i&cr=&safe=off&q=cache:OXSSgqlxNgAJ:http://www.pdf4me.net/pdf-data/indian-multibaggers.php+%22http%3A//www.moneycontrol.com/news_html_files/news_attachment/2010/FirstObject%2520-%2520firstcall.pdf%22&ct=clnk

Notice the date of the report

19th January, 2010

heres the standard disclaimer

Disclaimer:
This document prepared by our research analysts does not constitute an offer or solicitation for the purchase
or sale of any financial instrument or as an official confirmation of any transaction. The information contained
herein is from publicly available data or other sources believed to be reliable but we do not represent that it
is accurate or complete and it should not be relied on as such.Firstcall India Equity Advisors Pvt.Ltd. or any of
it’s affiliates shall not be in any way responsible for any loss or damage that may arise to any person from
any inadvertent error in the information contained in this report. This document is provide for assistance only
and is not intended to be and must not alone be taken as the basis for an investment decision.

Notice that in such a large document not once did it mention that it is the promoter of the company its advising a buy on

Till march end 2010 Firstcall owned 12.6 of Firstobject and there they are advisisng investors to go buy their own company

Now if that isnt crooked and deceptive practise what is?

Concurrent Infra, Octant Interactive, Firstobject Technologies ,G K Aggarwal and Firstcall Equity Advisors

Two highly colourful and controversial small firms concurrent infrastructure (caught lying about works contract in sikkim) and octant interactive were previously connected with G K Aggarwal the famous CA who is promoter director and a lot else in 5 listed companies all having registered offices in the same room and all witnessing sharp price jumps
CONCURRENT (INDIA) INFRASTRUCTURE LTD.
Scrip Code : 531261 Quarter ending : December 2007
Shareholding belonging to the category :
"Promoter and Promoter Group"
Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 Giriraj Kishore Agrawal 15,200 0.11
2 Tanu G Agrawal 500 0.00
Total 15,700 0.12

OCTANT INTERACTIVE TECHNOLOGIES LTD.-$
Scrip Code : 590090 Quarter ending : September 2008
Shareholding belonging to the category :
"Promoter and Promoter Group"
Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 Keystone Stockfin Pvt Ltd 13,000 0.12
2 Keystone Stockfin Pvt Ltd 309,500 2.81
3 Kushagra Software Ltd 132,850 1.21
4 L V Ramnarayan 1,500,000 13.64
5 Pradeep Dhanuka 341,900 3.11
6 Prahlad Rai Inani 459,300 4.18
7 Rajkishor Agarwal 141,600 1.29
8 Sarita Inani 64,900 0.59
9 Tanu G Agarwal 500 0.00
10 Tanu G Agarwal 35,500 0.32
11 Tanu Agarwal 95,400 0.87
12 Tanu Healthcare Ltd 1,120,000 10.19
13 Tanu Healthcare Ltd 60,600 0.55
14 Romy Realty Pvt Ltd 384,400 3.50
15 Trask Infrastructure Pvt Ltd 381,800 3.47
16 Vidhata Securities Pvt Ltd 16,300 0.15
17 Vidhata Securities Pvt Ltd 469,220 4.27
Total 5,526,770 50.26

the rest are probably aggarwal owned pvt companies

In fact The Registered office of Octant interactive then called kushal software was ........... E 109 Crystal Plaza New link Road Andheri

Another common factor is Firstcall India Equity Advisors Pvt

OCTANT INTERACTIVE TECHNOLOGIES LTD
Scrip Code : 590090 Quarter ending : December 2010
Shareholding belonging to the category
"Public" and holding more than 1% of the Total No.of Shares
Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 First Call India Equity Advisors Pv 735,618 3.72
2 Iqms Software Ltd 745,264 3.77
3 Insutech India Ltd 202,920 1.03
4 Sooraj C K 206,000 1.04
5 Rajeev Viswambharan Suseela 202,000 1.02
6 Rajkumar Amarlal Hasija 200,000 1.01
7 Bahuda Agro Tech (p) Ltd 806,722 4.08
Total 3,098,524 15.66

Iqms is the old name of Firstobject technologies and Insutech India new name is Rockon Fintech controlled and promoted by Giriraj Aggarwal

CONCURRENT (INDIA) INFRASTRUCTURE LTD.
Scrip Code : 531261 Quarter ending : December 2010
Shareholding belonging to the category
"Public" and holding more than 1% of the Total No.of Shares
Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 Firstcall India Equity Advisors Pvt Ltd 2,290,932 5.32
2 Mandava Ravindra 1,571,026 3.65
3 M Narendra Babu 983,714 2.28
4 Ravi Naveen 1,398,571 3.25
5 Bathula Venkateshwararao 1,430,432 3.32
6 Nandigam Venkata Vijaya Bhaskar 1,531,875 3.56
7 Myneni Hemanth 655,000 1.52
8 Mandava Sindhura 1,579,881 3.67
9 Kamal Podda 446,925 1.04
Total 11,888,356 27.61

Krishna Deep Trade and Santowin .......... The 50 market lot wonders

Here are two more examples of share movement that has nothing to do with fundamentals and everything to do with other possible illegal reasons

Both stocks can be traded in market lots of 50
ie you can only buyor sell 50 shares in one trade not less

Krishna deep has gone up 1000 percent from 11 to 118


Santowin has gone up 1000 percent too from 20 to 227


Thres no reason for either of these to rise no change in mangement or value unlocking or sale of land or new plant nothing

promoters holding in krishna deep has come down form 35 to 4 percent and in case of Santowin from 60 to 14 percent

Santowin has only 287 shareholders Krishna deep only 285

Both stocks have gone up on thin volumes

Artillegence bio-innovations Stocknet international Jagamohan reddy connection

Stocknet international
Artillegence bio-innovations ltd

Surprsingly 2 companies with different directors and and shareholders share the exact same registered address
Amritdham Suite No. 5 & 6, Nityanand Nagar, Bakultala,Howrah 711109

they also have the same auditor T N DATTA and sons who incidentally isthe auditor for two more calcutta companies known for extreme honesty Austral coke and Gremach infra

The directors of both companies though are completely different


Jagati publications was incorporated in jan 2006

In 2007 and 2008 14 unknown loss making companies including stocknet and artelligence bio made investments of 45 crores in jagati publications ie they bought shares for 45 crores


Source http://indiatoday.intoday.in/site/Story/121270/cover-story/jagan-mohan-reddy-the-prince-of-cash.html?page=1

"Under the guise of buying shares, they have paid kickbacks to Jagan," alleges TDP President N. Chandrababu Naidu. "Otherwise, how else can Jagati Publications allot shares at such high premium within months of incorporation?"

In 2008, auditing firm Deloitte estimated the worth of the publications, which owns the powerful 26-edition Telugu newspaper chain Sakshi with a total circulation of 12 lakh copies, at Rs 3,500 crore. It is odd that the balance sheets of 14 companies which invested Rs 42.56 crore in 2007 and 2008 in Jagati show an accumulated loss of Rs 68.95 lakh.

The main ones - Stocknet International and Artillegence Bio Innovation-are listed on the Bombay Stock Exchange and the other 12 are shareholders in the 2 listed companies ......their total accumulated loss (net worth)is nearly 70 lakhs yet they had 45 crores to invest in Jaati Publications (owner of sakshi newspapers and Sakshi channel )

These include Delton Exim Pvt. Ltd, Kirti Electro Systems, Bay Inland Finance, Bhaskar Fund Management Ltd, Cliftons Pearson Export and Agencies Ltd, Ganga Builders Ltd, Ispat Sheets Ltd, Gromore Fund Management Company Ltd, New Outlook Securities, Super Finance Ltd, Shakti Ispat Production Pvt. Ltd and Shivalaxmi Exports Ltd.

Interestinly Laffan software and conrad telefilms 2 of the 4 assam based companies banned by sebi from accessing the market also held a stake in artelligence bio in 2008

The bank accounts of these companies are in the Gol Park branch of HDFC Bank and the Baliganj branch of the South Indian Bank Ltd in Kolkata.

Several of these firms have been or are being investigated by the Securities and Exchange Board of India for unfair trade practices and fraud.

NCL Research

Another Other Financial Services company which has shot up without any paticular reason from 27 to 209

any increase in profits ? any unlocking of val;ue ? any sale of land ? NOTHING

Here is the topline and bottomline

2009 - 10 2008 - 09 2007 - 08 2006 - 07 2005 - 06
Revenue 3.59 9.57 0.70 0.02 0.02
NP 0.06 0.07 0.01 0.00 0.00

Management - NCL Research
Name Designation
Vijay J Poddar Chairman and Managing director
Giriraj Kishore Agarwal Independent Director
Gautam Bose Independent Director
Manish Baid Whole Time Director
Laxmi Narayan Sharma Independent Director

how independant is giriraj kishore aggarwal well whichever company he is associated wih (be they the 5 in one room companies) or companies such as ncl they just shoot up for no paticular reason
In 2020 SEBI MAY wake up and find out there was circular trading there in 2030 it may give a fine of 1lakh

ok we have independant directors now lets see who owns 10 percent of this company ........
NCL RESEARCH & FINANCIAL SERVICES LTD.

Scrip Code : 530557 Quarter ending : December 2010

Shareholding belonging to the category
"Public" and holding more than 1% of the Total No.of Shares

Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 Lily Abasan Pvt Ltd 39,700 1.17
2 Swpanpuri Tradelink Pvt Ltd 40,000 1.18
3 Mini Builders Pvt Ltd 42,500 1.25
4 Mangal Keshav Securities Ltd 63,900 1.88
5 Uttam Commodities Pvt Ltd 65,000 1.91
6 Kohinoor Vincome Pvt Ltd 67,384 1.98
7 Manimundra Vincom Pvt Ltd 54,000 1.59
8 Right Aid Consultants Pvt Ltd 86,000 2.53
9 Rupak Develppers Pvt Ltd 80,304 2.36
10 Welldone Commodities Pvt Ltd 95,000 2.79
11 Laurel Securities Pvt Ltd 52,000 1.53
12 Silverpearl Trading Pvt Ltd 153,257 4.51
13 Saikat Tradelik Pvt Ltd 165,000 4.85
14 East India Securities Ltd 227,500 6.69
15 SMC Global Securities Ltd 336,400 9.89
16 H Mahaveer 35,000 1.03
17 Amrik Singh Nagpal 36,000 1.06
18 Pravin Vasant Mehta 45,978 1.35
Total 1,684,923 49.56

with shareholders like smc and directors like aggarwal is it any wonder it moved from 27 to 209 and is now in continious upper circuits of 2 percent ?
at least BSE kept the circuits down to 2

Prajay Engineering .........Lost

Like the series lost and like its 2009 accounts

Prajay engineers is a small hyderabad based company which till 2008 was the darling of FIIs

Then Satyam happened

And something equally strange happend .......... here is what happened in the companies ownn words

“After the year end, basic records relating to sale agreements/ revenue and construction expenses of one of the Projects of property development were lost at the site office, Vishakhapatnam. The company “lost” records for a project worth 40% of its annual revenues at the site office.
http://www.dnaindia.com/money/report_where-corp-governance-was-questioned_1220249


NET Profits have Plunged and never looked up
in Cr.) 2009 -10 2008 - 09 2007 - 08 2006 - 07 2005 - 06
Net Profit 2.03 -0.99 102.87 77.25 22.73


After Deloitte Haskins & Sells first raised the issue auditors have continiously ben issuing limited reviews about Non provision for sundry debtors who havent paid for more then 6months and loans and advances not repaid for more then 6months
management rarely bother to reply to these and the reviews keep appearing

The company has had the same auditor for nearly 4 years (or more) a Mr S V RANGAN suddenly between 2007 and 2008 AGMs they decided to get one of the BIG FOUR Deloitte Haskins & Sells as auditors ........ not too surprsing;ly after a few months Deloitte Haskins & Sells decided to quit ..... after satyam no one wanted to be stuck with companies who "lost" their accounts
the company hired mr rangan again in 2009 he is till today the auditor

the shareholding too has changed dramatically

heres the shareholding as in dec 2008

PRAJAY ENGINEERS SYNDICATE LTD.

Scrip Code : 531746 Quarter ending : December 2007

Shareholding belonging to the category
"Public" and holding more than 1% of the Total No.of Shares

Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 Copthall Maritius Investment Ltd 457,701 1.66
2 Citigroup Global Markets (Mauritius) Pvt Ltd 1,217,640 4.41
3 ABN Amro Bank N.V. London Branch 1,310,310 4.75
4 Merrill Lynch Capital Markets Espana S.A.S.V. 1,351,863 4.90
5 Arisaig Partners (Asia) PTE Ltd A/c Arisaig India 1,701,727 6.17
6 General Electric Pension Trust 812,719 2.95
7 GE Investments Group Trust Emerging Markets Equity 335,872 1.22
8 Merrill Lynch International Investment Funds 522,117 1.89
9 MSAM Sub A/c Ind 285,700 1.04
10 Morgan Stanley Investments Mauritius Ltd 645,445 2.34
11 Morgan Stanley Mauritius Company Ltd 599,704 2.17
12 LB India Holding Cayman II Ltd 1,006,146 3.65
13 Swiss Finance Corporation Mauritius Ltd 339,254 1.23
14 Goldman Sachs Investments Mauritius India Ltd 1,066,159 3.86
15 S Madhuri Reddy 368,000 1.33
16 V Smitha Reddy 360,000 1.30
17 Deutsche Bank AG London 3,349,037 12.14
18 Goldman Sachs Investment Mauritius Ltd 1,116,345 4.05
19 Copthall Mauritius Investments Ltd 601,954 2.18
20 ACACIA Partners LP 334,999 1.21
Total 17,782,692 64.45

most of the holdings were from mauritius based companies

this is the latest share holding
PRAJAY ENGINEERS SYNDICATE LTD.

Scrip Code : 531746 Quarter ending : December 2010

Shareholding belonging to the category
"Public" and holding more than 1% of the Total No.of Shares

Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 Copthall Mauritius Inv Ltd 1,285,891 2.18
2 Merrill Lynch Capital Markets Espana S.A.S.V. 1,877,975 3.18
3 Ultimate Money Makers India Pvt Ltd 683,760 1.16
4 Il & FS Securities Services ltd 975,650 1.65
5 Nandi Ravinder Reddy 7,945,313 13.47
6 Merlin Securities Ltd 5,336,134 9.04
7 Surbhai Saroj Kumar Jain 1,000,000 1.69
8 Deutsche Securities Mauritius Ltd 2,530,998 4.29
9 Money Tree Media Ventures Pvt Ltd 1,910,000 3.24
Total 23,545,721 39.90

most have left

the price ..........w ell it went down formm 440 odd to 15 and unlike most stocks it hasnt staged any meaningful recovery

E-109, CRYSTAL PLAZA, NEW LINK ROAD, ANDHERI

This is fraud multiplied by five

E 109 Crystal Plaza New link Road Andheri is a magic room

It houses not one or two but FIVE public LISTED companies and one private company

the companies are

Rockon Fintech
52 Weeks H/L 34.25 / 12.05

Banas Finance
52 Weeks H/L 44.80 / 9.37

Tilak finance
52 Weeks H/L 177.70 / 22.05

Axon Infotech and
52 Weeks H/L 25.25 / 10.10

Shree nath commercial and finance
52 Weeks H/L 41.80 / 9.90

The private company is

Kayaguru Health Solutions Pvt. Ltd.

All are in one way or the other associated with a chartered accountant called Giriraj Kishore Aggarwal

All the publicly listed companies are getting into "power projects"

all have very low networth and very high market caps

all have shot up

SMC Global securities ...........Moneywise Be wise

1 DATE 15-SEP-2009 SSETTLEMENT CHARGES PAID 10 LAKHS

alleged indulgence in creation of artificial market and price manipulation violating regulations 4(1), 4(2)(a), 4(2)(b), 4(2)(e), 4(2)(g) and 4(2)(n) of sebi (pfutp) regulations,2003 in scrip of jubilant organosys ltd.
http://www.watchoutinvestors.com/Press_Release/sebi/smcglobalorder.PDF?cntrl_no=BRK3716

2 DATE 31-JUL-2009 SETTLEMENT CHARGES RS.7.5 LAKHS
alleged failure in exercising due skill, care and diligence while dealing in securities market
dealt with un-registered sub-brokers
alleged failure in exercising due skill, care and diligence while dealing in securities market
http://www.watchoutinvestors.com/Press_Release/sebi/samconsent.pdf?cntrl_no=BRK3099

3 DATE 05-JUN-2009 SETTLEMENT CHARGES 7.5 LAKHS
alleged indulgence in irregular transactions in f&o segment of national stock exchange
http://www.watchoutinvestors.com/Press_Release/sebi/smcconsent.pdf?cntrl_no=BRK2868

4 DATE 04-JUN-2009 SETTLEMENT CHARGES 7.5 LAKHS
alleged indulgence in irregular transactions in f&o segment of national stock exchange
http://www.watchoutinvestors.com/Press_Release/sebi/smcglobalconsent.PDF?cntrl_no=BRK2860

5 18-JUN-2007 SETTLEMENT CHARGES 6 LAKHS
indulged in non-genuine, synchronized and fictitious transactions in f&o segment

6 08-AUG-2008 SETTLEMENT CHARGES 15 LAKHS
alleged failure in maintaining high standards of integrity, promptitude and fairness in conduct of business and did not act with due skill, care and diligence

alleged portrayal of negative and bearish outlook of market to its clients

alleged large scale unauthorized distribution of terminals

dealt with un-registered sub-brokers

alleged failure in exercising due caution while executing large orders on behalf of client

alleged proprietary trading from more than one location

alleged unauthorized persons operating proprietary account activated terminals

alleged unauthorized diversion of brokerage income

alleged dealing through more than one broker and not reported off-the-floor transactions to exchange

alleged non-collection of margins from clients

alleged discrepancies in know your client forms

alleged discrepancy in issuance of contract notes

alleged non-segregation of client funds from brokers funds

alleged non-compliance of requirements of unique client code

alleged placing of advertisements in newspapers soliciting business

alleged change of constitution without prior permission from sebi

alleged non-disclosure of proprietary trading to clients

alleged dealing with sub brokers not having good financial standing

alleged irregularities in issue of preference share capital


7 DATE 30-APR-2008 SETTLEMENT CHARGES 5 LAKH

dealt with un-registered sub-brokers

alleged non-segregation of clients account

alleged discrepancies in know your client forms

alleged irregularities in maintenance of acknowledgement copy of contract note

Total SETTLEMSNT CHARGES PAID 58 LAKHS RIGHT TO CONTINUE FUNCTIONING PRICELESS

Aashi Industries Ltd AEC Enterprises Limited Dharnendra Industries Ltd Dharnendra Overseas Ltd why havent these companies been wound up yet 4 Dead companies

These are 4 companies which have been barred from accesing the markets due to the non addressal of investors complaints
Two are Z category one T and one Dharnendra overseas(Old name FLY UP FASHIONS LTD) doesnt seem to exist
such companies are inviting targets for operators to pump and dump
while sebi has atleast barred them and their directors from accessing the markets such shell companies may change names get a compromise order like anil ambani got and come back to defraud new retail investors
sebi should consult the MCA (ministry of corporate affairs ) and wind up these companies
see
http://www.sebi.gov.in/press/2011/201155.html

Compact Disc retirement gift for foolish retail investors

Suresh Kumar Seengal knows you cant fool all the prople all the time .....but once a year you can get a fresh crop of idiots like the ones who are buying his lie of delisting at a high price

wheres the money going to come form ? they have already made provisions thats all he will say
why does he want to delist ? he just wants to make it a closely held company
http://www.moneycontrol.com/news/business/compact-disc-to-complete-delisting-process3-4-months_534136.html

lets just look at the shareholding

http://www.bseindia.com/shareholding/shareholdingPattern_60.asp?scripcd=526141&qtrid=68.00

the seengals officially control only 24 percent ie 76 percent is with the public and AT LEAST 50 percent more must be bought back
seengal at 51 (todays price ) thats 4800000*50 = 24 crores ......so who is going to pay 24 crores to buy acompany the market knows exists on paper and gives a PE (price to equity ) ratio of 0.7 ??

If the companhy had any value Seengal could have very very easily alloted himself shares at such ridiculously low PE AT A MUCH LOWER PRICE

Not only has he not done that not done that the company hasnt paid a few crores as dividend for 2010 2009 and 2008

in 2009 the company came up with a ridiculous excuse for not paying dividend http://www.bseindia.com/qresann/news.asp?newsid={F5E0ED19-CD85-4760-84E9-C6928EF0B0D0}

Seengal earns 60 lakhs as salary from compact disc the wife earns another 24 lakhs
thats a neat 65 lakhs for

Also Notice this? Bodies Corporate control 1,186,305 or 12.36 of equity
who do you think controls most of the 378 corporates who own 11 lakh shares of this company
the "buyback" will be a great oppurtunity to dump off the 12 lakh shares

now heres an interesting notice to the bse

Compact Disc - Updates | 19/07/10 12:49
Compact Disc India Ltd has informed BSE that the Company's group arm Premier Brands Pvt. Ltd. has been appointed by the Organising Committee, Commonwealth Games Delhi 2010 as Master License for the Merchandising programme and Sole Concessionaire for competing and non-competing venues in India.

Premier Brands is also at the advance stage of finanlisation to act as Licensing Merchandising Partner for the Cricket in the World.

The Company is expected to generate revenue over Rs. 300 Crore within the financial year 2010-11.

Given Seengals reputaion
see http://www.business-standard.com/india/storypage.php?autono=3328
he and kalmadi are made for each other and probably made a lot of 'commonwealth' for the seengal and kalmadi nations
so maybe seengal doesnt want to be a public company when his conjob gets exposed

also son gautham (see the previous post) is into Private Equity BIG TIME
maybe they just dont want to be associated with a small fraudulent company

OR Maybe singal wants to turn his company into another BRUSHMAN INDUSTRIES run by a conman called KAPIL KUMAR who managed to turn his firm into a full fledged HAWALA CORP and such operations are done better without sebi and public scrutiny

OR MAYBE SEENGAL JUST WANTS TO TAKE THE PUBLIC FOR A RIDE AGAIN AFTER ALL HE IS IN THE ENTERTAINMENT SECTOR

G K Aggarwal - Tilak finance Axon Infotech and Shreenath commercial

G K Aggarwal is a chartered accountant who also happens to control 3 companies Tilak finance Axon Info tech and Shreenath commercial

Axxon infotech and shrenath comercial together own 34 percent of Tilak finance (which has gone up form 20 to 150 ) Handful Investrade Pvt Ltd Kayaguru Health Solutions Pvt Ltd (probably owned 100 percent by aggarwal and wife own 25percent)

Giriraj Kishor Agrawal Handful Investrade Pvt Ltd and Kayaguru Health Solutions Pvt Ltd together are listed as sole promoters of axon infotech and own 11 percent

Girraj Kishor Agrawal and Handful Investrade Pvt Ltd own 11 percent of shree nath commercial and are the only entities listed as promoters

All there companies have the EXACT same address as their registered office
E-109, Crystal Plaza, New Link Road,Andheri (West), Mumbai - 400 053.

All there have in the past 3 years witnessed sharp rise in prices without any change in toplines or bottomlines



Aggarwal is director in all 3 companies

In 2009-2010 an amount of 10 crores was raised by axon infotech and shgreenath commercial by allotment in both cases of 50 lakh shares at 20 rs
This year tilak finance raised 16.5 crores by allotting 1.1 crore shares at 15 rs
It has gone up amazingly from 22 to 151 almost vertically
Now they seem busy pumping shree nath commercial
Tilak finance and shree nath commercial are getting into “power projects” whilst shreenath commercial is getting into "diversification into various activities "

CHAMPIONS

Congrats all fellow Indians and enjoy the moment

tuni textile

This is a small company which makes practically no profit
Yet its zoomed from 16 to 271
In jan 20 they had alloted 7500000 lakh shares AT PAR to non promoters
25 January 2010
Subject: Tuni Textile - Outcome of Board Meeting
Announcement: Tuni Textile Mills Ltd has informed BSE that the Board of Directors of the Company, in pursuance to the authority given by the members at the Extra - Ordinary General Meeting held on December 30, 2009 & In-Principal approval given by regulatory authority vide letter dated January 22, 2010, at its meting held on January 25, 2010, inter alia, has allotted 75,00,000 Equity Shares of Rs 10/- each at par on January 25, 2010 on preferential basis under Section 81 (1A) of the Companies Act, 1956.

from 25th Jan 2010 (the allotment date) till june 2010 THERE WERE ONLY 3 TRADES in the scrip

AFTER that things stareted getting interesting in august 2010 trading started almost every day .... not much just 100-1000 shares traded every day hitting upper circuits almost every day

its gone from 16 to 271 WITH NO CHANGE IN FUNDAMENTALS
Heres the Net profit for the past quaters
Sep-10 Jun-10 Mar-10 Dec-09 Sep-09 Mar-10 (Annual

0.00 0.05 0.08 0.09 0.05 0.29

History
52 Weeks H/L 271.10 / 16.00
( 31 Mar 11 ) ( 10 May 10

theres a very strong chance that there is circular trading going on yet SEBI doesnt seem to interested in doing anything but putting it in the T group

Coral Hub (Fomerly vishal information)

A small bpo company it now has an e commerce (sale of books online ) and digitalization of books as its main business
There have been many grand announcemenst about change in business operations
The company has also WITHIN A SPAN OF 2 YEARS SPLIT ITS SHARES THEN CONSOLIDATED THEM
04/02/2011 Consolidation of Shares
25/09/2009 Dividend 0.12
07/08/2009 BONUS 1:2
06/03/2009 Stock Split from Rs. 10/- to Re. 1/-

Source bse website
Now that’s a record I haven’t seen
The balance sheet is unusual too as of 2009 it had cash and bank balances of 160 crores ( most of it ipo proceeds)
Within a year ie march 2010 it had just 16 corres as cash balances …… where did the rest go? Well it seems to have gone into loans and advances which jumped from 30 crores to 190 crores
So who did it lend the 130 crores to ? well it gave “advances “ to 4 subsidiaries of 146 crores who are they and what do they do ? ……… not much information is given in the website
Heres the standalone balance sheet

Heres the consolidated balance sheet

Basically heres what happened 146 crores of ipo money were given as “advances” to 4 subsidiaries
3-4 years from now DO NOT BE VERY SURPRISED IF THE ADVANCES TO THE SUBSIDIARIES ARE “WRITTEN OFF”

Avon Corp

How accurate are its accounts?
this company markets weighing scales ... it price hasnt done much since listing though its Net profits have been going up consistently

Period Dec-10 Sep-10 Jun-10 Mar-10 Dec-09 Mar-10 (Annual)
Net Profit 6.70 6.53 5.22 0.17 6.04 11.90

The market though doesnt seem to have much faith in the numbers as can be seen from the low prices of this fv 10 rs stock

the reason the market doesnt seem to beleive the numbers is somehow justified
heres a part of a moneycontrol article

http://www.indianexpress.com/news/allied-digital-plunges-20-on-tax-raid/746033/
what triggered the raids?
There seems to be an allegation of alleged bogus expenditure by the company. CNBC-TV18 also learns that it is not only Allied Digital Services but also another listed company that has come under the I-T department’s scanner— Andheri-based Avon Corporation, which manufactures weighing scales. What I understand is that there has been some transaction of bogus bills between Allied Digital Services and Avon Corporation. And that is the premise based on which the I-T department has moved

madhav marbles

this is another small or micro cap which has made a a rather curious sale

first some backgroud about its price


2011 28.90 18.25
2010 47.80 23.85
/2009 35.90 9.81
2008 135.00 13.10
/2007 162.25 69.20
2006 171.35 59.05
2005 108.50 44.50
2004 59.50 18.20
2003 35.00 11.00
2002 15.70 6.00


itmakes sudden spurrts and then just drops dead ...... mostly operator activity

United India Insurance holds 4 percent ......it pays regular dividend and it looked like a decent smallish small cap ..... untill this is what they did recently

Scrip Code:515093 Company:Madhav Marbles & Granites Ltd
22 October 2010
Subject: Updates
Announcement: With reference to the earlier announcement dated October 18, 2010, regarding Board of directors have finalized M/s. Mahatma Marble and Granite Pvt. Ltd. as buyer for the major capital assets of Marble division situated at Udaipur, Rajasthan, Madhav Marbles & Granites Ltd has now informed BSE that the agreement and necessary terms and conditions with M/s. Mahatma Marble and Granite Pvt. Ltd. had been executed by the Company and sale price of the assets is finalized at Rs. 4.21 Crores.

the price 4 crores odd seems very little when you consider that the company has 2 units one in rajasthan one in Tamilnadu and the gross block has been valued at 70 crorers in the 2010 balance sheet so that means the
the TN unit (marble unit ) is worth 55 odd corres and the sold rajasstan unit 4.2 crores
also the buyer is a one year old company incorporated in march 2010 with a capital of 30 lakhs

Murli Industries

Money laundering price rigging Accounts probably fake too

heres what the Murli promoters did

They created 10 fake companies

they then got the dangui grp (operators) to ramp up and give liquidity to the companies shares

they placed the fccbs at a high price of 565 based on danguis circular trading

the accounts are probably cooked

here are some relevant pieces for the sebi order

http://watchoutinvestors.com/Press_Release/sebi/SanjayDangi.PDF?cntrl_no=COMP5307


1. The Securities and Exchange Board of India (hereinafter referred to as
SEBI) had received a reference dated November 27, 2009 from the Office of the
Assistant Commissioner of Income Tax, Central Circle, Nagpur (hereinafter
referred to as the IT Department), containing certain findings in the matter of
Murli Industries Limited (hereinafter referred to as the company). It was stated in
the said reference that the following ten entities were holding substantial shares
of the company:
i. Ambaji Papers Private Limited
ii. Inco Infrastructures Private Limited
iii. Kanhaiya Mining & Minerals Private Limited
iv. Krishnum Investments Private Limited
v. Lakhi Packaging Private Limited
vi. Ramji Agri Business Private Limited
vii. Ramkrishna Fabrication & Machineries Private Limited
viii. Runicha Alloys & Steel Private Limited
ix. Simple Mining & Power Private Limited
x. Taitan Management Services Private Limited

2. In their reference, the IT Department had also stated that the affairs of the
aforesaid ten companies (hereinafter referred to as ten entities) were being
looked after by one Amit Raja CA, who happened to be their auditor. The IT
Department had found certain documents in the office of the company suggesting
manipulation in the share price of the company and stated as under:
“4.1 Page 7 & 8:- Theses pages are duly signed by one of the director Mr. Lalchand
Maloo. These papers pertain to period 12.12.2006 and 31.1.2007 just before the issue of FCCB. These papers indicate strategy to manipulate in the price of the shares before theFCCB. Further it also indicates the sharing of funds with one Mr. Sanjay Dangi”.

3. The IT Department, had also forwarded the certified true copies of the
above mentioned pages (7 and 8), which appears to have been signed by one
Sanjay Dangi and Mr. Lalchand Maloo (one of the directors of the company) on
behalf of the company. It was stated in page 7 of the document that after the
expenditure on Foreign Currency Convertible Bonds (hereinafter referred to as
FCCBs) and base price, the difference amount was to be shared between Mr.
Sanjay Dangi and the company in the ratio of 40% and 60%, respectively. The IT
Department had concluded the following:
“5.1 All the aforesaid 10 companies are dummy companies floated by M/s Murli Industries Ltd. All the directors of these companies are of no means to carry out huge transactions running into Millions of Rupees.

4. The IT Department further referred the alleged manipulation in the shares
of the company, to SEBI, for further necessary action. A plain reading of the
certified true copy of documents, which IT Department had found during their
survey at the offices of the company, prima facie indicated a well laid down
strategy planned by promoters of the company along with Mr. Sanjay Dangi to
manipulate the share price of the company before the issuance of the FCCBs.

5. In light of the aforesaid reference and documents received from the IT
Department regarding the manipulation in the shares of the company and the
profit sharing arrangement between the company and Mr. Sanjay Dangi, SEBI
initiated a preliminary inquiry in the matter to find as to whether there was anyconcentration of shareholding of the company among the ten entities and
whether there was any attempt to manipulate the shares of the company before
the FCCB issue. The preliminary findings of SEBI are given below:

6. The company, which was earlier known as Murli Agro Products Limited,
has its registered office at Jai Bhawani Society, 101, Central Avenue,
Wardhaman Nagar, Nagpur. The shares of the company are listed at the Bombay
Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited
(NSE). The shares of the company started trading at NSE only from February 19,
2007. Since, according to IT Department, the ten entities (mentioned in
paragraph 1 above) are dummy companies floated by the company and were
holding substantial shares in the company and had manipulated its share price,
SEBI obtained the ‘Know Your Client’ documents from stock exchanges/
depositories in respect of such entities. SEBI had also obtained information about the said companies from the website of Ministry of Corporate Affairs. Such details are given in Annexure A to this order. Analysis of the information so obtained revealed that all the ten entities are apparently related to each other as well as to the company and its promoters.

• The ten entities had given a common phone number (0712–2778910) belonging to one “Raja Mit Jayantilal” with the address as Sewa Sadan Square Kamdar Complex C.A. Road Gandhi Bagh Nagpur-440002.

• As per filings made by the said ten entities with the Registrar of Companies (RoC), the electronic mail (e-mail) address has been given as “ar.nagpur@gmail.com”. The IT Department had also stated that the affairs of those ten entities were being looked after by one Amit Raja, a Chartered Accountant at Nagpur. The aforesaid e-mail address appears to
be that of Mr. Amit Raja.

• In case of following directors, in companies Ramji Agri Business Private Limited, Runiicha
Alloys & Steel Private Limited, Inco Infrastructures Private Limited, Simple Mining & Power
Private Limited and Krishnum Investments Private Limited, there appears to be a direct
connection of ten entities with the company and its promoters:
o The address of one director, Mr. Kamalkishore MultanMalji Bhattad, in his account
maintained with Central Depository Services (India) Limited (CDSL) is 101, Jai
Bhavani Society, Wardhman Nagar, Nagpur, which matches that of the company.
The email id provided is maloo@nagpur.dot.net.in, which is one of the email ids of
Mr. Maloo, the promoter of the company.
o The phone number provided by Mr. Kamalkishore MultanMalji Bhattad is that of Mr.
Bajranglal Bankatlal Maloo, C/o Nandlal Enterprises and the fax no. provided is that
of Mr. Nand Lal Maloo, both promoters of the company.
o The address in driving licence of another director, Mr. Lalit Lohia, is provided as ‘C/o
M/s. Murli Agro Products Limited’.
o The phone number provided by another director, Mr. Shivshakti Babulal Dhoot, in his CDSL account is that of the company
The ten entities, thus, appear to be related to the company and its promoters, for
the reasons stated above in this order.


11. In respect of the other observation of the IT Department that there was a
strategy with Mr. Sanjay Dangi to manipulate the share price of the company
before its FCCB issue, I note that the certified copy of the documents (pages 7
and 8) enclosed with the reference from the IT Department, as mentioned above
in this Order, were dated December 12, 2006 and January 31, 2007. Therefore,
SEBI ascertained whether the company had issued FCCBs around the above
period and if there was any attempt to manipulate the share price for the
purposes of influencing the FCCB issue. The pertinent points to check would be
Page 6 of 56
• Whether a spurt in price of and volume of trading in the shares of the
company was noticed in the build up to the FCCB
• What was the level of trading in and price of the share price prior to the
dates of ‘agreement’ as indicated in the reference of IT Department
• Did Dangi and/or promoter entities assist in manipulation of the share
price around the time of the FCCB – before and after?

At BSE, it emerges that in the early part of the examination period and prior to the
FCCB, there was an increase in trading activity in the shares of the company with
the Dangi group entities and the ten entities accounting for a substantial share of
the gross and net purchases, thus leading to an upward bias on the price. The
daily average volume was also doubled during the said period which was
accompanied by a price rise from `210/- to `1230/-. BSE had also observed that
the Dangi Group had influenced, supported and pushed up the price of the scrip,
probably to assist the FCCB issue. The majority of selling by the Dangi group
was mainly executed during May 2007 till June 2007 i.e. during the exit phase of
the alleged scheme of manipulation. Of the total 1,14,518 shares sold by the
Dangi Group to the ten entities, a quantity of 1,00,294 shares (approximately
87% of their selling) was in the May-June period. This substantiates the inference
that towards the latter part of the examination period, the Dangi group entities
exited at higher prices and the major counterparties to their sales were the ten
entities. This was apparently part of a quid pro quo arrangement with the
promoter controlled ten entities, since the FCCB had brought in funds at prices
which may not have been possible without the volume and price manipulation
allegedly done by the Dangi group.
19. The trading in the shares of the company at NSE had started only from
February 19, 2007 after the issuance of FCCB and after creating enough liquidity
at BSE so that the listing requirements at NSE were met. For the period till July
2007, the SEBI examination revealed that the Dangi Group entities and the ten
entities again dominated the trading as tabulated below separately for net buy
and net sell basis

It can be seen that the ten entities were the top buyers on net basis contributing
87.58% of the total net purchase at NSE. Further, the ten entities had contributed
50% of the total gross purchase of 5,40,830 shares in the market during the
period, by purchasing 2,65,092 shares. It is noted that the quantum of shares
purchased by the ten entities is significantly higher than that of any other
unconnected purchaser as seen from the quantities under net purchase column
of the table.
20. At NSE too, the Dangi Group entities were observed to be the top sellers
on net basis. They had sold 2,75,848 shares on net basis. The majority of the
shares sold by the Dangi Group were purchased by the ten entities. It is
pertinent to note that, out of 2,65,092 shares purchased by the ten entities,
2,57,538 shares were purchased from the Dangi Group. The same constituted
97% of the total purchases made by the ten entities.

28. Therefore from documents received from the IT department and other
sources, analysis of the trading data and the actual unfolding of the FCCB issue,
it prima facie appears that the FCCB issuance was done in the manner as
premeditated by the promoters of the company and the Dangi group. Thus, in
view of the above, the observations of the IT Department that there was a
strategy to manipulate the share price of the company before its FCCB issue,
prima facie appears to be founded


The said activities of the entities induced several hundred investors to deal in the scrip without any knowledge of a predetermined scheme of artificial creation of volume and increase in price orchestrated by the promoters and the Dangi group. Finally the Dangi group was given an exit from their holding of the shares of the company at a higher price by selling a majority of its holdings to the ten entities. The price of the shares fell sharply thereafter, thereby leaving unsuspecting investors with possible losses.
Finally, there may be prima facie a violation of the Securities and Exchange
Board of India (Prohibition of Insider Trading) Regulations, 1992 (hereinafter
referred to as the PIT Regulations) as the said ten entities and the Dangi Group
(who could be termed as persons deemed to be connected with the
company/directors) were transacting on the basis of the information of the
impending FCCB issue by the company that was available only to them as part of
the game plan conceived by the promoters (few of the promoters were also
directors of the company).

Kohinoor broadcasting

This is one interesting company
it started out as Overseas Finlease a finance company run by a Mangal singh a 64 year old who seems to like the name overseas all three of his companys have that name
MANGAL SINGH (MR.)
(son of MR.TARA CHAND)
Age
64
Education
GRADUATE
Civil Services

Director on Board of following Listed Companies *

1. KOHINOOR BROADCASTING CORP.LTD. bse code 531366 first date of appointment 02/08/2000 designation MANAGING DIRECTOR, PROMOTER-DIRECTOR NO

Director on Board of following Unlisted Companies/Organisations

Sl.No. Indian Companies/Organisations

1. OVERSEAS CONCEPT AUTO LTD.
2. OVERSEAS TEXTILES LTD.
3. TAGORE THEATRES LTD.

Brief Profile covering Experience, Achievements ***

Mr.Mangal Singh is 59 years old. He started his career by setting up a trading house dealing in Electrical Appliances and industrial hardware products in 1973. He carried on the said business until 1998. He had joined Tagore Theaters Limited on 12 August 1998 as a Director. Thereafter he had promoted Overseas Concept Auto Limited and Overseas Textiles Limited in the year 2000. Mr.Mangal Singh had taken over as Managing Director of Kohinoor Broadcasting Corporation Limited on 3rd March 2003.

The company been harping about starting a tv channel for the past 7 odd years using multiple bse announcenmemts to lure investors in

heres the bse announcement in 2004 yes 2004 7 years ago

Scrip Code:531366 Company:Kohinoor Broad
December, 14 2004
Subject: Kohinoor Broadcasting - Updates
Announcement:
Kohinoor Broadcasting Corporation Ltd has informed BSE that a media and communication Company has set up the production facilities for programmes to be broadcasted for various local TV channels. The Company is mainly focusing on Documentaries, new stories and other local languages cultural programmes.
Future Plans:
The Company has decided for setting up its own telecasting facilities and will have its own earth station and other facilities to air eight channels. Initially company plans to air one regional and one Hindi language channel and leased out other six lines.

Using the tv cchannel as an excuse they raised 100 crores by gdr and private placement in 2 tranches

Scrip Code:531366 Company:Kohinoor Broad

July, 23 2007

Subject: Kohinoor Broadcasting - Outcome of Board Meeting

Announcement:
Kohinoor Broadcasting Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2007, inter alia, has taken the following decisions:

3. The board has approved the allotment of 29,200,000 equity shares of Rs 10 each underlying 2,920,000 GDR's issued in the name of Depositary (Deutsche Bank Trust Company Americas) and issuance of Share certificate thereof.

Scrip Code:531366 Company:Kohinoor Broad

October, 17 2007
Subject: Kohinoor Broadcasting - Outcome of Board Meeting

Announcement:
Kohinoor Broadcasting Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 12, 2007, inter alia, has taken the following decisions:

1. The Board has approved the Placing Agreement, Deposit Agreement and the Escrow Account Agreement in respect of the GDR issue.
3. The board has approved the allotment of 75,000,000 equity shares of Rs 10 with underlying 7,500,000 GDR's issued in the name of Depository (Deutsche Bank Trust Company Americas) and issuance of Share certificate thereof.

so gdrs were issued twice the first time for 20 crores the next for 80 crores

After raising 100 crores they tried to siphon off the 100 crores raised (which was almost equal to the net worth of kohinoor broadcasting) by buying a theatre complex which belonged to 2 of the directors (another director harjinder singh son of wrynam singh also co owned tagore theatres )

why a company proposing to start a tv channel was buying a movie theatre for 100 crores was never explained

Scrip Code:531366 Company:Kohinoor Broad
January, 7 2008
Subject: Kohinoor Broadcasting - Outcome of Board Meeting
Announcement: Kohinoor Broadcasting Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 07, 2008, has taken the following decisions:

1. The Board has approved in-principal, the proposal of takeover of M/s. Tagore Theatres Ltd (Valuing approximately INR 1000 Million), a multiplex, at a valuation to be conducted by the Company of international standing such as M/s. Knight-Frank India Pvt Ltd, Chesterton Meghraj, Jones Lang Lasalle, Price water house Cooper or equivalent. The Board has authorized the committee of Directors to complete the transaction and to finalize the swap ratio for the proposed takeover.

2. The Board has approved the opening of subsidiary Company in United Kingdom for Launch of TV channel in UK and adjoining areas.

3. The Board has taken note of the receipt of the equipment for Teleport to be set up at Rajpura involving a capital outlay of INR 50 Million.

4. The Board took note of the orders placed for play-out station to be set up at Rajpura involving a capital outlay of INR 100 Million.

notice how they say the took note of the receipt and took note of the orders placed ....... not whether the equipment was actually with them

when for some reason that didnt succedin option 1 (pay mangal singh and harjinder singh 100 crores for their theatre ) they used option 2

Setting up overseas subsidiaries in england and uae or dubai these companies not surprsingly have posted amamzing UNAUDITED results

ALL THE 100 CRORES HAVE BEEN "INVESTED" IN THESE OVERSEAS SUBSIDIARIES NO ACCOUNTS HAVE BEEN GIVEN THE ANNUAL REPORT NEVER SEEMS TO REACH INVESTORS and no one has any idea how the 100 crores raised have been invested

these "overseas subsidiaries " have fantastic results but arent audited

not too surprsingly noone beleives anything they say except for an idiotic blogger called sandeep or suman mukerjee who has a genius for picking up dud dead fraud stocks

besides the 100 crore ripoff they also regularily promise dividends in 2005 2009 and 2010........and always have an excuse not to give it

they have also had the HC cancel allotment of 70lakh shares ......

Brushman India

This is a one man con job and heres the man Kapil Kumar

heres a link to a bash kapil kumar threw for the launching of Toni and guy

http://ww.smashits.com/brushman-india-launch/event-1587-picture-1.html

He managed to be assocated with world class brands like Denman International, UKKeune Haircosmetics, HollandNvey (Make-up), Australia
Wahl Clipper Corporation, USA Moser, Wahl GroupLigo Electric SA (Valera Dryers)'Jaguar' Stahlwarenfabrik GmbH & Co. KG
Denman and Keune actually have astake in brushman

Kapil Kumar is involved in

Money laundering WITH MADHU KODA (REMEMBER HIM?) many people seem to have forgotten

Price rigging

Accounting fraud

Unfortunately for the minority shareholders of Brushman Kapil kumar seems to have dragged the company in everything he does

1 Money laundering

www.dailypioneer.com/270197/Koda-money-rode-on-hawala.html
Koda money rode on hawala

Navin Upadhyay | New Delhi

The economic investigation agencies probing the Madhu Koda scam have unearthed huge pay-off remitted from abroad to agents and facilitators for grabbing mining lease in Jharkhand when Koda was the Chief Minister.

Sources said that Koda’s close aide Binod Sinha helped a major steel company grab mining lease in the State. The company agreed to pay part of the payment in cash for the contract of extracting iron ore from Jharkhand mines and remaining by remitting it to two separate companies linked to Sinha and his aides.

Sources said probe agencies have learnt that Koda and his associates used hawala channels in a big way to receive pay-offs for awarding mining lease to different companies. The bribes were routed to a spate of companies and then passed off to Koda and his aides.

In the present case, the probe agencies have learnt that as per the understanding reached between the steel company and Koda’s aides, the former allegedly routed the money through Global Absolute Research Private Ltd and Brushman India Ltd. The two separate companies are headed by one person, whose role is already under scanner in the scam.

Sources said there is evidence to establish that Tony Dildar Singh, a senior official of the Global Research, visited Ranchi in 2007 to finalise the mining lease and cut off the ‘deal’ with Koda’s aides. Dildar Singh is believed to be the main person involved in transferring funds from Dubai, Delhi, London, India, and Singapore.

The probe agencies have found evidence to establish that Koda’s APS Arun Kumar Srivastava had written to Dildar Singh and one Anil Adi Nath Bastabade in 2007, inviting them to explore business possibilities in Jharkhand on the instruction of Koda and Binod Sinha. Anil Bastabade is a key player in the scam.

Probe agencies are investigating a series of suspected transactions reflected in the accounts of Global Absolute Research Pvt Limited and Brushman India Ltd. Sources said that on March 14, 2007, Global Research received payment of Rs 3.5 lakh from London and again received Rs 11 crore in the third week of October from New York.

On March 10, 2008, the company again received Rs 46 lakh from the same source in New York. On April 4, Global Research received foreign remittance of US$ 1,99,972.50 by Vishes Infotechnic from New York. On June 6, another London-based company remitted US$ 1,41,14.02 to it.

Also under scanner is a remittance of $11,710,507.00 that flowed into the account of Brushman India from London on August 1, and then re-routed to Singapore, Hong Kong, and Dubai.

Bastabade is well connected in Delhi, London, Dubai and had visited Ranchi several times between 2006 and 2008 when Koda was the CM...


2 Price rigging

PRESS RELEASE - SEBI
August 18, 2010
PR No. 196/2010
Consent Order on the application submitted by M/s Brushman (India) Limited & its Managing Director Shri Kapil Kumar in the matter of

M/s Brushman (India) Limited
A Panel consisting of Whole Time Members, SEBI, Dr. K. M. Abraham and Shri Prashant Saran, has passed consent order dated August 13, 2010 on an application submitted by Brushman (India) Limited & its Managing Director Shri Kapil Kumar in the matter of Brushman (India) Limited, in accordance with SEBI circular dated April 20, 2007 for consent orders. The applicant has remitted a sum of Rs. 10,00,000/- (Rupees Ten lakh only) towards settlement charges as terms of consent in the matter. SEBI has accepted the said terms of settlement and this consent order disposes of the proceedings initiated against them under Section 11B of the SEBI Act, 1992 read with Regulation 11 & 12 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 1995 and Regulation 11 of SEBI (Prohibition of Unfair Trade Practices relating to Securities Market) Regulations, 2003.

The order has come into force with immediate effect.

Mumbai

August 18, 2010

in december 2010 he was AGAIN CAUGHT for rigging with sanjay dangui see page 29 onwards of this link

http://www.watchoutinvestors.com/Press_Release/sebi/SanjayDangi.PDF?cntrl_no=COMP5333

3 Accounting fraud

Tci Finance

This stock has become an Operators Shuttlecock

Tci finance is NBFC which every year is a 2-3 bagger between its 52 week high and 52 week lows in 2005 it was a 10 bagger 1 to 10 in 2000 an 8 bagger SO IT IS OPERATED REGULARILY

The year highs and lows are as follows (nse) source
Year Ending High (Rs.) Low (Rs.)
2011 129.80 44.15
2010 53.20 20.25
2009 30.50 11.55
2008 67.40 8.00
2007 53.55 17.30
2006 41.00 15.65
2005 34.50 6.60
2004 10.05 1.85
2003 6.50 2.60
2000 25.75 3.35

Source http://broking.rbs.in/company_Fundamental.asp?CompanyCode=14060034
Its usp is supposed to be its stake holding in the promoter group companies

Heres info DIRECTLY FORM THE 2010 ANNUAL REPORT

So tci finance holds amrit jal ventures

Now a reputed website VCC Circle has in an article
Gati Promoter May Shed 26% In Hydel Power Biz; To Raise Rs 250Cr said this
Amrit Jal Ventures, the holding company of Hyderabad-based Gati Group's hydel power projects, is looking to divest around 26% stake for raising Rs 200-250 crore. The company is in talks with undisclosed institutional investors, possibly infrastructure private equity funds, who have started due diligence ahead of a potential transaction, said an official close to the company.
The group, with the listed cargo and logistics company Gati Ltd as its flagship, has been diversifying its interests with hydro power identified as a growth area within infrastructure play.
Amrit Jal is implementing three hydel projects in Sikkim with combined output of 250 MW. The holding company is executing the three projects through separate special purpose vehicles (SPVs) and the fund raising will be ploughed into these projects at various stages of implemention. This includes the 99MW project at Chuzachen, 71MW Sadar Mandger project at Ravangla and 51 MW Bhasmey project at Rangpo in Sikkim.

http://www.vccircle.com/500/news/gati-promoter-may-shed-26-in-hydel-power-biz-to-raise-rs-250cr

Now here is the interesting part amrit jal is divesting 26 per cent to RAISE MONEY FOR AMRUT JALS EXPANSION NOT GIVE TCI FINANCE SHAREHOLDERS MONEY

When u divest stake it usually is by issuing fresh equity so there will be equity dilution

Anyway assuming the Aggarwals sell 26 percent stake to whoever AND THEY SELL TCIs remaining 23 that’s a dangerous 49 percent with non promoters IN AN UN LISTED COMPANY

Why will the Aggarwals do that ? why leave 49 percent of an unlisted potential multibagger with non promoters EVEN BEFORE AN IPO

As for the stake in Gati and TCI industries (both group companies ) the shareholding is part of promter stake and its extremely unlikely that TCI will ever actually sell and realize cash from these 2 holdings

For the record as of today the gati and tci industries stake combined is 81 crores

ITAG business solutions had negative reserves as of 2010 so that has no current value

The stock has zoomed from 20 to 120 often in unbroken upper circuits then came back to 61 in unbroken lower circuits then went up again to 90 mostly in upper circuits
operators are mindlessly ramping it up and down and small retail investors are getting sucked in into a stock without any thought

Once the operators are done with this this should resume its comatose state again

How to spot a fraud balance sheet ........... hopefully

Booking Revenues In Advance: Are a company’s Cash Flows from Operations (CFO) growing as fast as its Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA)? The formula: Calculate the percentage rise in CFO and EBITDA from one financial year (FY) to next. Compare the two to see by how much percentage is EBIDTA outgrowing CFO. The higher this result the more the chance of the company booking revenues without corresponding cash flows.

Shoring Up Operating Revenues: This metric asks, “Is a company’s ‘other income’ growing more or less in line with its investment assets?” The formula to apply is: Calculate the proportion of Other Income (OI) to Cash Investments (CI) for a FY. Do the same for previous FY. Compare the two to see whether the former has fallen drastically compared to the latter. The higher the fall the more the chance of a possible diversion of ‘non-core’ revenues to topline revenues.

Disbursement Of Loans To Related Parties: This metric directly looks at the quantum of a company’s loans disbursed to related parties. As a general thumb rule, if more than 1 per cent of loans or advances given out are to such related parties then there is a case to ask the question “Is cash being pulled out of the firm by the promoter?” The formula: look at Loans and Advances figure in the balance sheet. Get the loans to related parties figure from the notes to accounts in the annual report. Find the proportion of the latter to the former.

Shifting Expenses Away From The Current Period: This metric asks “Has a company’s ratio of depreciation to Gross Block of Assets changed significantly in a given FY from the previous one? If so, is the company using depreciation to ‘manage’ earnings?” Calculate the depreciation rate of a FY by dividing the Gross Block of Asset with the Depreciation Charged. Do the same for previous FY. Subtract the former with the latter. If the difference is negative and significant it raises a red flag to dig deeper.

Mis-match Between Quarterly Un-audited Figures and Annual Audited Figures: Do the audited annual FY Sales and Profit After Tax (PAT) reported to the stock exchanges tally with the quarterly sales and PAT reported earlier at the end of each quarter? Except for minor variations or variations due to demergers or other major corporate restructuring they should. Add Q1, Q2, Q3 and Q4 Sales and PAT figures for a given FY. Get the final audited figures for Sales and PAT. Compare the two.

source http://www.businessworld.in/index.php/Markets-Finance/Ghosts-Balance-Sheets/Page-2.html

Minal industries

Heres a promoter that has indulged in price manipulation and circular trading
Hes been caught once before
By an order dated sept 28 2005 mr annantnarayan had barred B Parikh, Shrikant J Parikh, J V Joshi, Amul J Patel, Vikram J Parikh, Malay Karbhari and Kamlesh Khandhor from trading in the shares of the company for 3 years

the parikks are promoters of the company

for full order see
http://www.sebi.gov.in/cmorder/MinalOrder.html

After the 3 year period he comes back again with exactly the same con job

the price was ramped from 16 to 120

the price rise started in may 2010 but gathered steam only in july august 2010

in june 2010 parikh pledged some shares to take a 5 crore loan
see http://www.bseindia.com/qresann/news.asp?newsid={B94D4D0A-EBB0-4BF5-8799-D057EDE67016}

what he used those 5 crores for is o[pen for speculation

from then on the stock has just zoomed up almost vertically

there were a series of 'exciting' bse announcements
http://www.bseindia.com/stockinfo/anncomp.aspx?scripcode=522235%20&type1=1

And he will get some more retail investors

And sebi will not do anything

Beckons industries

other company with a habit of publishing official announcements which are always half truths and usually downright lies
promoter holding is a miserly 2 percent
they have supposedly invented a process to develop biofuel economically from algae ......its supposed to be so revolutionary it can potentially save india 125000 CRORES ... thats part of an official notice to the bse http://beckons.org/pdf/news5.pdf.......well with such amazing potential you would think Gurmeet singh the promoter would increse his stake but sadly he hasnt ....its still 2 percent
so here are some more OFFICIAL fairytale announcements
where delhi unniversity signs a MOU for a demo plant http://beckons.org/pdf/news1.pdf
here it collaborates with a US company (google the company you get no info about it) to commercialize algae tech http://beckons.org/pdf/news2.pdf
and so on
Getting back to the comapnies past and the promoters past is also very intersting
Gurmeet singh seems to be a bit of a land shark with political connections In 2003 he had a plan to build biotech park in a 50 ACRE plot of land in MOHALI http://articles.timesofindia.indiatimes.com/2003-09-19/chandigarh/27189192_1_biotech-park-biotech-policy-biotech-industries ...... the biotech park fell through but guess what gurmeet singh bhatia retained controll of a shell company with owns theland
Guess thats the general plan in having a plant in sunny goa

waiting for comments

folks the visitors widget says there are more then 100 views but no comments so far
hoping for some reactions and comments

Compact Disc and Total exports

Compact Disc and Total exports are the listed components of the Seengal empire
There are many unlisted companies …. More about that later
Lets now take a look at the Seengal family

Father suresh kumar (mr.)
Directorships
cdi education pvt.ltd.
premier brands pvt.ltd
radiant films ltd
(son of mr.Om Prakash Seengal Mr.Suresh Kumar,Chairman & Director is an Electrical Engineer from IT-BHUand an MBA, Post Graduate Diploma in Export Management. He has been advisor to Birla Group. He is well connected person with 28 years rich experience in business environment. He has travelled to more than 60 countries and is also on the board of many well known companies.

Mother rashmee seengal (ms.)
(daughter of mr.shadi lal grover)
director in
compact disc (listed )
laser infomedia ltd
seengal animation pvt.ltd
seengal capital advisors pvt.ltd
Mrs. Rashmee Seengal has over three decades of experience in managing business. She has leadership qualities and a decade's expertise in creation and distribution of content for media and entertainment industries.
ooops sorry i forgot suresh kumars 89 year old mother in law

Daughter divya seengal (ms.)
director in
celluloid dreams pvt.ltd.
(daughter of mr.suresh kumar seengal) age 27 education msc –it system
ms. divya seengal aged about 26 years is m.sc. (hons.) in i.t. systems. she joined kpmg after completing her education. she left the job and promoted a company under name celluloid dreams pvt. ltd.
all data from directrorsdatabase.com

Son gautam seengal
Source http://www.linkedin.com/in/gautamseengal
Presently, Mr. Seengal is working as Managing Partner for VC Hunt Special Opportunity Fund (www.vchunt.co.in). VC Hunt Special Opportunity Fund is SME focus global fund with opportunities to fund deals across real estate, hospitality, media, technology among others. Mr. Seengal is also working as Managing Director for Pariscope Financial (www.pariscope.co.in).Managing Director at Pariscope Financial - Multi-Focused Advisory Organization

The 2 listed companies are Compact Disc India and Total exports
Compact Disc is going at a 0.7 PE and no matter how many exciting announcements the company puts out in the bse the price refuses to move up
While CDI stagnates the other seengal group group company total exports seems to be about to be totally pumped and dumped its gone up 100 percent in february 2011 and will probably soon overtake the 0.9 PE compact disc


Unlisted companies where the Seengal family (father Mother son and daughter) are directors and promoters is

Laser infomedia ltd
Seengal animation pvt.ltd
Seengal capital advisors pvt.ltd
Pariscope Financial Advisor Pvt Ltd
Special Opportunity Fund at VC Hunt
Global Resort & Spa Ltd.
Cdi education pvt.ltd.
Premier brands pvt.ltd
Radiant films ltd
Celluloid dreams pvt.ltd

There probably are more pvt companies hidden away but this list is easily verifiable as being controlled by the seengal family

Heres a 1996 article on Suresh Kumar Seengal

Mumbai cops seek probe into Seengal activities
BSCAL September 24,1996
Source http://www.business-standard.com/india/storypage.php?autono=3328

The crime branch of Mumbai police has written to the Securities and Exchange Board of India (Sebi) to probe into the activities of the Seengal group and of Suresh Kumar Seengal for allegedly floating fake companies and garnering money from public issues.
The letter has evoked no response from the regulator so far, according to Mumbai crime branch deputy police commissioner (economic offences) Sanjay Pandey, who wrote the letter.
Suresh Kumar, who has now floated a new company Global Internet Limited, which is set to launch Plus 21, the country's first adult channel, had earlier come out with two public issues for Compact Disc and Total Exports, raising about Rs 9.20 crore, allegedly without any plant or factory to manufacture the items the companies were supposed to.
When contacted in Chandigarh Suresh Kumar said that he was just an employee of Global Internet and claimed the company was actually promoted by three non-resident Indians, whose names he refused to divulge.
The Chandigarh-based company has the same address, telephone and fax numbers as Compact Disc and Seengal Hotels, promoted by him.
While the new project profile of the Global Internet does not talk about any public issue plan, an earlier profile of the same company, a copy of which is available with Business Standard, shows it had plans to raise Rs 55.74 crore through public issue and another Rs 3.52 crore through term loans and from other modes. The channel planned earlier was entertainment-oriented covering India, Pakistan, Bhutan, Bangladesh, Sri Lanka and Nepal.
However, the plan to go public was shelved after Sebi called off another public issue by the Seengals, that of the Rs 5.54-crore Seengal Hotels, on September 4, 1995, just a day before the issue was scheduled to open for having concealed a fact on litigation.
In the case of Compact Disc India Ltd, which promised to manufacture and sell compact discs at a low price of Rs 90, the company had claimed to have a plant at Gurgaon.
However, a retired army officer and an ex-employee of the company and the officials of Contour Advertising agency, which had earlier handled two new-issue campaigns for the Seengals, said after visiting the site that there was no plant at Gurgaon to manufacture compact discs.
Suresh Kumar, when questioned about Compact Disc, lost his temper and said, Don't ask me anything about Compact Disc.”
Information furnished in the prospectus of Compact Disc India, like a buy-back arrangement with a UK-based company Delta Disc, had also come under suspicion as Delta UK denied having any such arrangement with the Seengal company and challenged the existence of any company by the name Delta Disc, UK.
A source said Seengals Petrochem Products, a company floated about a couple of years ago by Suresh Kumar to provide dealership for liquefied petroleum gas connections for a fee of Rs 500, had also come under suspicion.
A total amount of Rs 26 lakh had been collected under the scheme, a source said.
There are two receipts available with Business Standard to show that the amount had actually been collected. But, so far, no gas connection has been provided to anybody.
There is no plant for Total Exports — housed in the same building as the Petrochem Products — to manufacture duplicate micro-floppy diskettes.
THAT WAS IN 1996
NOW CUT TO 2011 AND SEE THE SON GAUTAMS PROFILE PAGE ON LINKED IN DÉJÀ VU ANYONE?

Source http://www.linkedin.com/in/gautamseengal

Gautam Seengal's Summary

Presently, Mr. Seengal is working as Managing Partner for VC Hunt Special Opportunity Fund (www.vchunt.co.in). VC Hunt Special Opportunity Fund is SME focus global fund with opportunities to fund deals across real estate, hospitality, media, technology among others. Mr. Seengal is also working as Managing Director for Pariscope Financial (www.pariscope.co.in). Pariscope is young enterprise catering to the growing needs of financial advisory services, wealth management, depository and portfolio management services. He is also working as Director for Global Resort & Spa Ltd. Global Resort & Spa Ltd. (www.globalresorts.in) is 25 years old, closely held limited organization with plans to setup luxurious resorts in Goa, Kerela and Jaipur. The company is also planning to launch 'Chicken Express' an international food chain with setting up 100 retail outlets and 30 fine dine restaurants in India within the next few years.
Prior to this Mr. Seengal was working as Managing Partner for Acumen Capital US$ 400.00 million private equity fund with sectoral investments approach in TMT (Technology, Media and Telecom), Life Sciences and Healthcare, Hospitality and Energy & Resources. He was also the Managing Director of Compact Disc India Ltd. (CDI). He has been instrumental in CDI emerging as the largest outsourcing film Animation Company in South Asia with present assignments worth US $40 million in 2D and 3D animation. He has been instrumental in the company’s 360 % growth in the last 5 years of operation. Under his leadership, CDI has set up offices and animation studios in Singapore and Malaysia, and a state-of-the-art production centre at Trivandrum. Gautam has successfully implemented projects worth $117.89 million in animation outsourcing and co-production.
SO IN 1996 SURESH KUMAR WAS ALLEGEDLY FLOATING FAKE COMPANIES AND GRANERING MONEY FROM THE PUBLIC IN 2011 THE SON WITH AN MBA FROM WALES MAY BE DOING SOMETHING SIMILAR USING THE PE ROUTE