October 17, 2014 Leave a comment
Elections act as steroids administered to the economy. If you are interested in just how big a dose, just take a look at the figures here:Link
For Whom Wealth Matters
April 2, 2013 Leave a comment
Normally I ignore anything to do with the IAC, AAP and Arvind Kejriwal but comments on the YouTube CobraPost Videos drawing parallels with HSBC got me googling to see what all the noise was about.
Following are the statements of three people who had opened accounts in Dubai, Zurich and Geneva with HSBC Bank,given when they were questioned under Section 132 (4)/133A of the Income Tax Act, 1961: Read more of this post
April 1, 2013 Leave a comment
It took me a while to watch this series of videos from Aniruddha Bahal. If you are inclined to watch them,the links to the public videos are available below. But be warned that they get repetitive after a while.
So what do you think?Have you similar experience either as a customer,financial intermediary or banker? Read more of this post
August 1, 2012 2 Comments
Some interesting observations from Alok Kejriwal :
“After my first round of VC funding, I ran into my uncle at a dinner. He had read about the financing in media and cornered me. ‘So you’re rich! Why are you looking so gloomy?’ he said. ‘Huh’ I asked? ‘My Company’s the one that got funded, not me! No one got rich. The VCs got poorer and a long arduous road lies ahead of me to return the money to the VCs many times over’. He chuckled and said’ ‘What nonsense! The first rule of the funding game is to siphon out 25% of the funds and make yourself-rich. Investors can be dealt with later’. Shucks… hadn’t I heard that story before? Many of my relatives have floated public issues that were nothing short of scams and they still boast about it!
This ‘get rich, siphon out’ philosophy left so many old industrial houses bankrupt. They were never capitalized to take advantage of acquisition opportunities and punished their shareholders so harshly that they could never raise capital again. Think Mafatlal, Dalmia and many more. Even today I meet embarrassed professional managers working in ‘family’ firms who get paid salaries in ‘half white and half black’ to avoid taxes! Read more of this post