Rei agro----a mysterious stock to understand.

M

mastermind007

Well-Known Member
#61
#61
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P

pradosha

Member
#63
#63
I started posting on this stock after exiting with huge loss that I have since recovered. My posts will reveal my intension in bringing out the negatives of the stock and also to expose the failure of the REGULATORY SYSTEM to deal with rouge managements of REI and the like. In REI CONTEXT a friendly boarder in moneycontrol described SHP as Sh.t HOLDING PATTERN. Obviously cant expect honourable Traderji members to devote their time on such an Nth rate stock like REIAGRO. But the failure of the REGULATORS to act decisively in dealing with such Companies is unfortunate, DESPITE THE WHISLE BLOWING EVIDENT IN THIS THREAD. Still it seems "India at 7th spot on investor protection; ahead of US, Japan " (http://www.rediff.com/business/report/india-at-7th-spot-on-investor-protection-ahead-of-us-japan-/20141029.htm)and SEBI guys are patting their back....In such a situation I felt it is a WASTE of time and effort to chronicle events concerning REIAGRO from my last post.
 
P

pradosha

Member
#64
#64
In support of what I have said in my post above I am copy pasting my earlier post in traderji dated 2nd March 2014 so that readers get the RIGHT perspective:
I don't want this thread to disappear from the front page of traderji, because the intention was to unravel the' mystery 'surrounding this stock as I said in my initial post dated 31st October 2013.There has been suspicion of a big fraud/scam in the company which I felt, if exposed in initial stages, could result in some measures by the concerned including the REI management. At the same time a constant reminder of a developing scam would put pressure on the regulatory/investigating authorities to act since it concerns public funds to the tune of Rs5000 Cr, besides investors money. Elsewhere above mention is made of efforts made to inform SEBI and the Company as well as its auditor for looking into the matter. Nothing has happened so far.

Now I see from the rowing debate in REIAGRO counter on Moneycontrol Message Board,that the REI episode is turning out to be a major Scam about which one shareholder has alerted all the consortium member banks and the Serious Fraud Investigation Office under the Ministry of Corporate Affairs through an e-mail that he has sent to several ranking officers of Consortium member Banks, including the CMDs under the caption " Indias Largest Basmati Scam of 44,60,00,00,000 INR (4460 cr INR)". I am posting the link to one of the discussion threads in MMB where this can be found, for those who are interested:http://mmb.moneycontrol.com/india/me...&tot=41&pgno=1

The objective of this effort is to understand how effectively the Company management and the governmental authorities act or don't act even when relevant information is provided to them. If a scam indeed breaks out and the PSU banks who have funded this Company's working capital to the tune of some Rs5000 Cr take a hit, then, at least, there is exposure of the inefficient/lethargic/corrupt system which keeps failing in taking timely needed action in controlling/preventing such frauds/scams.
 
P

pradosha

Member
#67
#67
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