27 September, 2020

Villain No. 9: Bhansali & Co

Sixty-thousand of them in this country, 90 per cent of whom can't pay me back my fixed deposit amount, forget the interest.

Villain No. 9: Bhansali & Co
outlookindia.com
-0001-11-30T00:00:00+05:53
Harshad Mehta, 1992. Pawan Sachdeva, 1995. Indian Bank, 1996. And the Mike Milken award for brazen financial fraud for 1997 goes to private finance companies, aka the Bhansali Brigade. Sixty-thousand of them in this country, 90 per cent of whom can’t pay me back my fixed deposit amount, forget the interest.

Call it Murder on the Investment Express , all my co-passengers had a hand in butchering me.

I’m only a small-town loser with a small-town perspective. I read fancy ads in pink newspapers and magazines that claimed to predict stock-market movements with perfect accuracy. I didn’t know there’s no one on this planet who can do that—not Warren Buffet, not Peter Lynch. My investment philosophy was simple: if one company offered post-dated cheques and an interest rate of 24 per cent, I chose that over one that gave me only 12 per cent. Of course, the high, investment-worthy ratings helped...helped the Bhansali Brigade, that is.

Hype precedes a fall. So when I heard that Chain Roop Bhansali was given a licence to set up a bank—which the PR...

unsub

THIS ARTICLE IS PRICELESS...

To read this piece, and more such stories in India's most exciting and exacting magazine, plus get access to our 25-year archives goldmine, please subscribe.


More from Gautam Chikermane


Latest Magazine

October 05, 2020
content

other articles from the issue

articles from the previous issue

Other magazine section