Dear ValuePickr Members,

I trust this message finds you well. I am currently conducting research on listed Indian companies suspected of engaging in accounting fraud, specifically financial shenanigans. I am reaching out to seek your valuable insights and recommendations regarding such companies.

If any of you have knowledge about Indian companies that have been involved in accounting fraud, I kindly request you to provide the names of the companies, along with the year in which the incidents occurred. Additionally, if available, please share details on the methods employed or the extent of the fraudulent activities.

Your cooperation in this matter would be greatly appreciated, and your input will contribute significantly to the research. I look forward to receiving your responses and thank you in advance for your assistance.

Note – I already have complied a list of companies that did accounting fraud, please let me know if you have any more companies in addition to this list.

1. Satyam Computer – INE275A01028
2. Cox and Kings – INE391Z01012
3. Ricoh India – INE291B01015
4. IL&FS – INE871D04048
5. Yes Bank – INE528G01035
6. C G Power – INE067A01029
7. DHFL – INE202B01012
8. Jet Airways – INE802G01018
9. Bhushan Steel – INE824B01021
10. Cafe Coffee Day – INE335K01011
11. RELIGARE – INE621H01010
12. Kwality – INE775B01025
13. Manpasand Beverages – INE122R01018
14. PC Jewelers – INE785M01013 .
15. Punjab National Bank – INE160A01022
16. Jaypee Infratech – INE099J01015
17. Amtek Auto – INE130C01021
18. DECCAN CHRONICLE HOLDINGS – INE137G01027
19. Eros International Media Ltd – INE416L01017
20. Brightcom – INE425B01027

Regards,
Fawaaz.

What all of these mean now?

RBI cannot make this clearer anymore. Paytm Payments Bank is the only concern. RBI has nothing to say about Paytm super app. This indirectly implies that partners need not hesitate to do business with Paytm. As the result, Axis Bank partnered with Paytm for the nodal account.

There is one thing still not clear. RBI FAQ mentions that merchants with Paytm Payments Bank needs to change their QR code, etc setup. And no change required from merchants with other bank accounts. However, Paytm now says, having partnered with Axis Bank to shift nodal account, that QR, soundbox, etc will continue to operate for “all” their merchant partners.

It would help to know why Paytm feels that even merchants with Paytm Payments Bank account won’t need to change any of their setup (except changing the bank account from PPBL). Is shifting nodal account sufficient for this, unlike what RBI suggests to those merchants in the FAQ?

There’s been no update in this thread for long. I’ve a feeling that the dinosaur is about to wake up. Any long-term investors in this counter ? The stock has disappointed and frustrated many for past 3 years, are there die-hard believers in here ?

I held a tracking position initially. Accumulating it on support levels. Current allocation is 4.67%

Disclaimer: This writing is intended solely for educational purposes and to foster an understanding of differing perspectives.

Updating on my thesis shareholding

Some style which suite for me

I look for a peaceful framework basically long term investments

In the long term, I seek a value-plus-growth style. This entails identifying companies poised to double their business and profits over a three-year period and entering positions only when shares are underpriced. Theoretically, this approach should result in shares doubling over an extended period

Another style a turnaround story

another a future trend

*Exited positions

1. Swaraj suiting’s – Value plus Growth

Brought when company market cap was 40 t0 50 crore and share price was Rs 25 and book value of share was Rs 50.

and saw company putting capex of 70 Crore.

Brought at 25 and exited around 90

2. Zee and Rajesh Exports (Swing trading)
   Made 20% profit in zee and Rajesh export a loss of 35% and cumulative loss was 15%. Realised Swing trading may not work for me.

Holding/Partial Exit

1. ITC – Dividend plus value buy

Brought at 205 by looking at dividend yeild and cheap valuation.

Expectation – No exit or expectation plan

2. Max India (Future theme)

senior care may be a growing business

Brought Max India around Rs 80 Range.

Expectation – No much because i see this model should go for a long period of time may be many decades in India due to migration and nucleus families.

3. NTPC (Value plus Growth)

Brought by looking dividend, future plans, value. Purchased at 90

Future – No plan on exit wait and see how power business gear up in India

4. Satia Industries (Value plus growth)

When I brought Satia it was almost doubling the business and my calculations was right and the sales from 890 crore went to 1800 crore and PAT also doubled from 100 cr to 200 cr. And paper companies were trading at 10 PE. And thought Satia will also trade at 10 PE. If then Satia should trade at 200 to 250 range.

Not disappointed because share went from 80 to 160 and back to 120 range. Will hold for few more years seems it is a marginal bet at 80. Let’s see how things goes in the future.

5. Supriya Life science – Growth story

too much impressed on management integrity and their future road map over 3 years. They are planning 500 crore capex (current + future) in next 3 years so normally pharma may have 3 time assets turnaround. so expecting sales around 1000 to 1500 crore and PAT of 300 to 400. and valued at 30 P/E. so market value should be b/w 6000 crore to 10,000. So market should be valued at Rs 1000 to 1500 per share. would be happy if share goes over 600. ( I brought around 290/-)

6. Gulshan Poloys – Growth – Ethanole business

Brought at 200. company is expanding ethanol business. already having sale of 600 crore (doubling the business). Risk i see Raw material price.

7. Kitex – Value + Growth + Turnaround story

Existing unit in kerala near my home. Market punished this company from 5000 crore valuation to 1000 crore value. Major reason MD’s entry into polities + few corporate issues.

what interest – Company is 2nd largest kids wear manufacture in the world. Company putting 3x business expansion and exited from kerala and moved to telegana (received many incentives almost 60% of their investments comes from govt as subsidy etc.)

Company has already put one factory which is world largest manufacturing unit

when company is expanding its business into 3 times in a investor friendly state. expecting share should trade above its peak value in 2017.