The CVC Central Vigilance Commission should examine the role of SEBI chairman Damdoran and Finance Minster Chidambaram. These two manipulate the Indian stock markets to their will they are very similar to Harshad Mehta and Ketan Parekh the only difference is they occupy government offices.
SEBI announced the P Notes regulation on 16th Evening on their website, this information was leaked to some big time FIIS Traders and coterie of FM and SEBI Chief hence they took short positions in the stock market and that was the only reason one day before the P notes announcement we saw the FIIS had sold stocks and created shorts. For 2 months before these FIIS were buyers .
SEBI and FM are the biggest manipulators in the market they have been time and again manipulating markets for insider trading , They have a bunch of Big time FIIS who will be funding the congress party elections and they help them by manipulating the markets and passing the information on to them. Before these too the FM made statements on cement price and than on he withdrew the same. There used to be disinvestments news and the denial soon after. We are not talking about small money the fall these time eroded Rs 30,000 Crores of investor wealth. So Insider traders and The Coterie could have taken position and made this amount.
Now as Per CPMs demand P notes should be banned , as CPM is very right when a indian needs a PAN to invest Rs 1000 in the stock markets how come you allow foreign entities t
RE:The CVC Central Vigilance Commission should examine the role of SEBI chairman Damdoran and Finance Minster Chidambaram
by Bob Seth on Oct 22, 2007 07:19 PM Permalink
Now as Per CPMs demand P notes should be banned , as CPM is very right when a indian needs a PAN to invest Rs 1000 in the stock markets how come you allow foreign entities to invest in Indian market anonymously. if the P Notes are banned the issue will get resolved once and for all, else SEBI and FM will use it time and again to manipulate the markets and make wealth for their favorite FIIS and Big traders. SEBI should not be allowed to go back/diulte the P notes regulations . foreign capital is welcome as a FII.
The points raised by Mr. Somaiya are on everyone's mind today, especially those in the markets and who understand its working. The lose statements being made by Govt/regulators almost always lead to a crash and then the FM appears on TV for making "clarifications".. Why not issue detailed statements in the first place instead? There has to be a reason to it and the FM should be bound to give it to the public.
PNotes and other derivatives are the Sub-prime Mortgage Securities that nobody in US or Europe wants. They are desperately trying to value the tied up instruments that they cannot mark to market. FII's packages this and sell to un-suspecting Indian and Chinese markets re-directing it to Stock markets buying up Emerging market stocks. This is so dangerous that it will eventually destroy Indian Markets. chinese Markets might comeout of this as they have more than a trillion dollars in their kitty. SEBI and Govt has smelled the biggest threat to Indian markets and decided to call the bluff. FII's must be controlled just like US and Euproeans do with Chinese and Indian Companies trying to operate in WEstern markets.
Now people like these and comments like these take us back to the medivial age. Haven't these guys gone to school? Haven't they learnt about law of gravity? What goes up must come down. A very simple rule that governs the earth. When markets zoomed nearly 50% within 3 months, why did they never complain? When markets are correcting(for whatever reason) they are complaining. I bet these buffons entered the market when their neighbors gave a hot tip and entered when sensex was at 19K. :) Markets go up and down because they have to. Being a learned investor is what one should be. But alas, some indians never grow up. They complain at the first instance of a problem. They should be spoon fed. I like to be educated, check out http://www.ddstockblog.com
RE:Silly and Crazy India and so are these indians
by on Oct 22, 2007 01:47 AM Permalink
Sorry, for some reason my earlier comment did make it. Just wanted to say, I am an Indian and Proud to be One. And the earlier comment was just meant for some characters such as the author of this article. :)
Finance minister made a statement days before he was surprised to see the BSE reaching 18K.It was a hint by FM to play some useless trciks to tumble the markets. Any eyeopener by FM is appreciated but not in a way where you account for losses of small investors. I extend my full support to Kirti for filing complaint with CVC and to take actions against all the biggies who made lot of money. Come out you all in support and bring these politicians and rich guys to books.
RE:PC warned it before
by DR SANJAY NARMALA on Oct 22, 2007 09:04 AM Permalink
Yes Binod, you are right FM made a statement waring retail investers about Stock market & soon after fews days Market Crashed .which causes huge loss to samll investors like me ... Me too extend full support to kirit.. N .Sanjay
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I remember reading an interview with Mr.Sundar Iyer some 20 years ago. The question posed to him at that time was " Do you wait for break out to invest in a scrip?". To this he replied " I don't wait for break outs. We create break out."
If anybody wants to make very big money within a short time they can do so at times like 17.10.07. Wait for the market regulator to make some negative announcements(knowing fully well its implications but without taking any precautions and with least transparancy and with fastest retreat !!!). When the market crashes buy equities. Within an hour or even minute (may be even within a second!!!) either the regulator or the FM or connected officials bound to make a statement(past and present history confirms this)which results in scrips zooming high. Sell your holdings. Be a crorepathy(may be Chalis Azhar Crorepathis). Don't worry about any disgourgement order. This will not come in this type of cases. Nobody dares to pass such orders. At whose risk SEBI and FM are playing tricks. For funding whom and for what purpose? These are the questions in the minds of public. If the Finance Ministry and SEBI are really serious about the investors they should nullify the transactions that went through on 17.10.07 and 18.10.07 and also publish the names of the ultimate clients who made money on these days. Hats off to Sri Kirti Somayya for his intention to take a very bold step.
