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

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