MUMBAI: Billionaire businessman Harsh Goenka fears {that a} inventory market rip-off is brewing that could possibly be equated with those which had been perpetrated by notorious market operators like Harshad Mehta and Ketan Parekh.
Goenka alleged that this time the rip-off could have its origin in Kolkata. In a submit on X, Goenka on Saturday alleged that businessmen, particularly from Kolkata, are cooking up books to inflate income which in flip is driving up inventory costs.
“With a booming inventory market, all malpractices of Harshad Mehta/Ketan Parekh period are again primarily in Kolkata,” Goenka posted.”Promoters are inflating income & in nexus with Gujarati-Marwari brokers driving their inventory costs to unrealistic ranges.” He didn’t elaborate. Goenka, who has about 18 lakh followers on X, additionally tagged finance ministry and markets regulator Sebi urging them to step in to analyze the rip-off earlier than small buyers suffered big losses.
Spokespersons for each, finance ministry and Sebi, did not touch upon the submit.
By the way, Kolkata-born Goenka’s youthful brother Sanjiv is among the main businessmen in Kolkata. And cigarette-to-hotels conglomerate ITC is the most-valued firm that has its headquarters within the metropolis. To a respondent to Goenka’s submit who acknowledged that it’s largely main metal homes (who engaged in such actions of inflating income), Goenka agreed.
Goenka alleged that this time the rip-off could have its origin in Kolkata. In a submit on X, Goenka on Saturday alleged that businessmen, particularly from Kolkata, are cooking up books to inflate income which in flip is driving up inventory costs.
“With a booming inventory market, all malpractices of Harshad Mehta/Ketan Parekh period are again primarily in Kolkata,” Goenka posted.”Promoters are inflating income & in nexus with Gujarati-Marwari brokers driving their inventory costs to unrealistic ranges.” He didn’t elaborate. Goenka, who has about 18 lakh followers on X, additionally tagged finance ministry and markets regulator Sebi urging them to step in to analyze the rip-off earlier than small buyers suffered big losses.
Spokespersons for each, finance ministry and Sebi, did not touch upon the submit.
By the way, Kolkata-born Goenka’s youthful brother Sanjiv is among the main businessmen in Kolkata. And cigarette-to-hotels conglomerate ITC is the most-valued firm that has its headquarters within the metropolis. To a respondent to Goenka’s submit who acknowledged that it’s largely main metal homes (who engaged in such actions of inflating income), Goenka agreed.
