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Beat The Street

@BeatTheStreet10

Jun 19 • 7 tweets • 3 min read Twitter logo

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SEBI bars IIFL Securities from onboarding clients for 2 years due to the misappropriation of funds

A thread #sebi #investing #iifl #IIFLSecurities #redflag #corporategovernance

During inspections, it came to light that out of the 45 client bank accounts examined, a staggering 26 were not titled as "client accounts." This despite a prior warning from BSE.

Violated provisions of the SEBI 1993 Circular

The inspection team discovered a troubling trend. Funds were regularly transferred from client bank accounts and clients' dividend accounts to IIFL's Pool/Control Accounts. These accounts, managed and controlled by IIFL, functioned as the company's own bank account.

In summary,

IIFL had made series of detailed submissions in its contention but were rejected by SEBI

SEBI prohibit IIFL from taking upon boarding a new client for a period of 2 years with respect to its stockbroking biz.

Link to SEBI order
sebi.gov.in/enforcement/or…

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Beat The Street

@BeatTheStreet10

Jun 21

⚠️SEBI has imposed a penalty of INR 20L 💰 on Sangam India for delayed ⏰disclosures with respect to Promoter Share Transactions ⛳️❌

A Thread 🧵

#SangamIndia #SEBI #redflag #corporategovernance

1. Promoter bought 4.55% stake but disclosed it after delay of 1926 days

2. The inter-se promoter transaction of more than 5% in FY17 was also disclosed with delay of 1200 days

Read 7 tweets

Beat The Street

@BeatTheStreet10

Jun 20

10-Year Forecasts for Major Asset Classes

Let's explore 10-year annualized forecasts for major asset classes using Vanguard's Capital Markets Model (VCMM).

A thread 🧵
#investing #stockmarket

While there’s no way of predicting the future, quantitative models can help us come up with a general idea of how different asset classes may perform in the future.

One example is Vanguard’s Capital Markets Model (VCMM

2/ Equity Returns: Vanguard predicts international equities to outperform U.S. equities in the next decade. Valuation-based expansion in U.S. equities may lead to lower returns, while international equities offer favorable valuations and higher dividend payouts.

Read 7 tweets

Beat The Street

@BeatTheStreet10

Jun 14

📢 Attention Investors! 🚨

🔍 Dive into the latest bombshell from SEBI regarding Brightcom. This time, it's about the Promoter's alarming and unusual trading behaviour.

Let's dive into the details 🧵! 📈

#Brightcom #SEBI #redflag #corporategovernance

The background : Promoters are purportedly disregarding regulations pertaining to their trading activities⚠️🤯

1. Disclosure Lapses in trading by promoters: Law says you have to disclose if your traded value is more than 10L

There were instances where disclosures were not made. Promoter denied wrong-doing but was termed untenable by SEBI

Read 7 tweets

Beat The Street

@BeatTheStreet10

Jun 12

Continuous delay in Merger Proceeding by Creditors
SEBI’s Shirpur Gold Refinery Order on Fund siphoning

Now,
SEBI asked resignation of Punit Goenka, MD CEO of Zee as well Mr. Chandra of Essel Group.

Let’s take a deep dive into this interim order and understand!

#Zeel

Background

Resignation of 2 Independent Director - Sunil Kumar and Neharika Vohra in Nov’19 on misappropriation of FD of Zee by Yes Bank for squaring off loan of other Essel grp entities

Mr Subash Chandra, then chairman of Zeel/Essel grp provided LoC to yes bank on 200 Cr Loan o/s in Essel Green Mobility Limited. as per LoC, he accepted that Essel group companies incl Zee will have FD of 200 Cr that can be used in event of default

Read 11 tweets

Beat The Street

@BeatTheStreet10

Jun 12

Narmada Gelatine - Super Special Situation

A change of management and promoter will empower the future growth

A thread 🧵

#investing #specialsituation #narmadagelatine #stockmarket

About Narmada Gelatine - A 200 crore market cap co-manufactures gelatine with decent fundamentals

Now, Pioneer Jellice India (one of the largest manufacturers of Gelatine in India) bought 75% stake in the company at INR 229 per share. Triggering Open offer at INR 303 per share

About acquirer : pioneerjellice.com/about-us/

Read 7 tweets

Beat The Street

@BeatTheStreet10

Jun 9

#Greenlam 🔼 20% today!
In 1 Month 58% up!

Why???
Let’s understand!

The news came today -
Setting up of Greenfield project by subsidiary
Capex - 130 Cr
Capacity - 18.9 Mn sq ft
Potential Rev - 400 Cr on full capacity

Existing Revenue FY23 - 2026 Cr

20% Addition to the Top line
At 12% EBITDA for at least 8-9 months at 75% capacity (just become operational) can add 20 Cr to existing PAT. (~15% PAT)

Read 5 tweets

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