July, 2013 | Dalal Street

Art of Corporate Fraud – Vikash Metal & Power Limited

July 25, 20131 min read

We’d like to point out the Art of Corporate fraud which went unnoticed by the Chartered Accountants certifying the Books of Accounts of Listed Company – Vikash Metal & Power Limited. The NSE, BSE and the SEBI appear to be in deep slumber as we all know how the incompetent heads of these institutions are appointed and any honest efficient whistle-blower within the institutions is sent out.

Vikash Metal & Power Limited reports in its Books of Accounts a whopping Rs 9.04 Crore as Robbery. The books of Accounts are certified by CA. Rakesh Singh (MRN 067493) of Rakesh Singh & Co and the screenshot of the amount in question is as shown below. (more…)

Economy, Markets and Macro Views

Congress Governments Policy Failure & Corruption Puts RBI in Tough Spot as Rupee Hits Life Time Low

July 8, 2013July 8, 20132 min read

The Stagflation [Stagnancy of Reforms since Scams Broke Out + Inflation] prevalent in India, accelerated by Populist measures such as Free Food Security Bill for Votes [Costing the Nation Rs 125,000 Crore every Year] has put additional pressure on the Indian Rupee as it hit an all time low of Rs 61.53 against USD since independence in 1947. Indian Central Bankers, RBI is busy as it is caught between the Devil and the Deep Blue Sea and here is an excerpt of their strategies to protect Indians from the vested politics of Central Government.

Limited FX intervention RBI will intervene only to provide liquidity to FOREX markets and not to influence its direction. The central bank thinks (more…)

Breaking Corporate India Earnings News

Food Security Bill & Vote Bank Politics – Costly Affair

July 8, 2013April 18, 20202 min read

The Food Security Bill passed by means of an Ordinance, without even tabling in the Parliament as it would attract Debate and Press Coverage on How it will Drain the Indian Central Treasury by over Rs 125,000 Cr every year will prove expensive for the Nation as it is evident that the Corrupt Congress Government wants Votes in the five state elections in Q4-2013 and general elections in mid-2014. (more…)