MoneyWell 🇮🇳 l Everything Finance 💰

An Allegory of Finance I have and will be posting a lot of educational threads on finance, money, and economics. All of the threads can be found below. Enjoy and please share!

Toh laadli behan band kar ya apne jeb se de.

My mind is blown away reading the 109 page SEBI order on Rajesh Exports… not that its surprising given some in last few yrs had called it a fraud but shocked on the size of it and how a Rs 3,000 crore market cap company may potentially be heading towards ZERO.! 😲 This is not a normal accounting issue. This is SEBI practically alleging that out of nearly Rs 15.45 lakh crore consolidated revenue reported over 5 years, close to Rs 15.15 lakh crore revenue itself may have been misrepresented. Yes, you read it right - lakh crore. And the most shocking part? The core operating subsidiary, Valcambi SA, whose numbers supposedly drove the entire global scale of the group, reportedly showed only a few hundred crores of standalone revenue annually in audited Swiss accounts. Meanwhile, the holding structure above it magically showed revenues running into several lakh crores. SEBI’s allegation is brutally simple in layman terms: A refining business which allegedly earned only processing charges/value addition was shown at group level as if the company owned and traded the entire value of gold flowing through the system. Imagine a toll booth operator claiming ownership of every car crossing the highway and booking the value of all cars as its own revenue. That is broadly what SEBI is questioning here. The order repeatedly mentions: • No proper invoices • No customer/vendor level breakup • No ERP access • No journal dumps • No confirmations • Missing subsidiary financials • “Swiss confidentiality laws” being cited to deny information SEBI has also highlighted that even the forensic auditor BDO India faced severe non cooperation. What makes this even more serious is that this is an ex parte interim order. Meaning SEBI has passed the order based on its own investigation and material gathered, without relying on cooperation from the company side. Regulators generally do not go this aggressive unless they believe the findings are extremely serious. The statutory auditor named in the order is BSD & Co, a mid sized Bengaluru based audit firm along with P V Ramana Reddy & Co. SEBI has specifically mentioned non submission of working papers and missing subsidiary records. Another fascinating angle: The annual reports reportedly show borrowings of around Rs 1,000 crore, but there is very limited clarity on which banks gave these loans and against what underlying audited cash flows. This may go down as one of the most dramatic accounting fraud allegations ever seen in Indian capital markets post Satyam.. If even a fraction of SEBI’s findings sustain, this is not just a corporate governance failure. This is a complete collapse of reported financial reality. Absolutely insane reading.! You can read the order here - sebi.gov.in/enforcement/or… #Rajeshexports

For those mainly Pakistani men who have inflicted the very worst pain imaginable on innocent British children, please know this. There will come a day when the power of the British state that concealed your atrocious crimes for so very long is turned against you. It will be swift. It will be brutal. It will be severe. Because if Restore Britain gets a sniff of power, there will be a reckoning. I promise you that. We will show you the same mercy you showed our girls. Your race or religion will not protect you any longer. A message will be sent that is heard right across the world. If you rape our children, you will pay for it - and you will pay for it with everything. That is what Restore Britain will do.

Today, I gave a lift to a neighbour and dropped her at the restaurant where she works as a cashier. When I asked why she was walking in such extreme heat, she told me she could not afford to spend Rs 50 on auto fare every day. She takes auto only during emergencies. This is the reality of middle class today. We really don’t need lectures on saving money - we are already struggling to save as much as possible. What we really need is a serious plan to increase manufacturing jobs and build skill centres. Now, where is that plan?

Delhi narcotics inspector Subhash Yadav & his team allegedly raided a house in Uttam Nagar then planted ‘Ganja’ inside it. After threatening the owner with jail, they allegedly demanded ₹25 lakh to “close the case”. Deal settled at ₹15 lakh. But the owner showed some courage went to CBI office. CBI laid a trap in Dwarka & caught one officer red-handed while taking cash. Subhash Yadav got tipped off & escaped. When CBI raided his office: 
• ₹50 lakh cash recovered
• Multiple flats & land in Dwarka
• ₹100+ crore bank transactions Allegedly 3 IPS officers are also having connection with him. These people meant to fight crime became the crime syndicate itself 🤐

Manoj Madhusudhanan took a ₹1.86 crore home loan from ICICI Bank. As collateral, he handed over his original property documents. Every homebuyer does this. You have no choice. ICICI Bank sent those documents to their storage facility in Hyderabad via courier. Somewhere on that journey — Bangalore to Hyderabad — the documents vanished. Gone. Originals. Irreplaceable. When Manoj found out, ICICI Bank had one answer: it was the courier company's fault. Not ours. He went to the Banking Ombudsman. They told ICICI to publish a public notice about the loss and pay him ₹25,000 for the trouble. Twenty-five thousand rupees. For losing the original documents to a ₹1.86 crore property. Manoj sent a legal notice. ICICI denied any mistake. He went to the NCDRC. The apex consumer court looked at the facts. The bank had taken custody of the documents. The bank had chosen the courier. The bank could not hand that liability to a third party and walk away. ICICI Bank — India's second-largest private bank, ₹9 lakh crore in assets — was held liable. Ordered to obtain reconstructed certified copies, issue an indemnity bond, and pay ₹25 lakh in compensation. One loan. One lost file. One bank that blamed the courier. Save this — if your bank loses your original property documents, they cannot blame their courier agent. The documents were in their custody. The liability is theirs. File at your district consumer forum. The law is on your side. (Source: Manoj Madhusudhanan vs. ICICI Bank Ltd. | NCDRC | LiveLaw, September 2023)

As an investor, I feel helpless 😒 - SGBs - Killed - Equities - Heavily Taxed - Debt Funds - Lost indexation - Overseas investment by mutual Funds - Stopped - Investing outside India - 20% TCS - Crypto - Complex Taxation - Indian FDs - Taxes at slab - Foreign Investments - INR at low

Still investing your Rs.1000 in SIP and waiting for the 1 Crore future ?? In MP, around 50 IAS/IPS officers reportedly bought agricultural land on the same day … after 16 months 3200 Cr rupee western bypass was sanctioned in that area and land prices jumped 11x Keep SIPing, Good Night

Real Estate Insider Trading: IAS/IPS officers will make Harshad Mehta and Ketan Parekh blush.

In Noida, a man beat a watchman just because the gate opened a second late

Jitu Munda (55) had approached the Odisha Grameen Bank multiple times to withdraw the savings of his sister, who had died two months earlier. Bank authorities asked him to furnish the required documents but failed to make him understand what exactly was needed or how he could arrange it. An uneducated tribal man, with no knowledge of paperwork or procedures and unable to comprehend the requirement of documentary proof, exhumed his sister’s remains, placed them in a sack, and carried them to the bank as evidence of her death. Once the issue went viral, the bank sprang into action and are now saying that he will be guided and helped. But shouldn’t this be the standard practice? Grameen banks were established for financial inclusion, to serve the most vulnerable sections of society, not to burden them with rigid, urban-centric bureaucratic processes they neither understand nor can navigate. Moreover, the staff in such banks are mostly local and are expected to understand the ground realities far better. If even they fail to bridge the gap between policy and people, then the very purpose of these institutions stands defeated.

People avoid govt schools despite paying taxes and an education cess, because the system has failed to earn their trust. Private schools exploit this compulsion. With no real alternatives, parents are squeezed and intimidated. Here, a principal from a reputed private school in Hardoi is berating parents for buying books from a cheaper shop instead of the school’s designated vendor. The insulting tone, “shut up,” “naam kaat do”, says it all. Almost everyone with power in India abuses it to bully those without it.

Humble request to the Reserve Bank of India. Please completely restrict indian banks from selling insurance or bonds. Currently, banks are either forcing, or mis-selling them to customers for a few extra commissions. They don’t care whether a person even needs it or not. Most of the time, they don’t even ask. Bank employees forge customers’ signatures or mis-sell products by outright lying. RBI is silently watching them loot the common citizens of this country, from senior citizens to young employees. It’s extremely shameful that banks have been openly looting for the past 2–3 years and the RBI has done nothing about it. Please have some shame and take the necessary action against these banks.

From the bottom to the top of the ladder, everyone is involved. There's no "Ease of doing Business" in India. Doing business in India feels like doing a Crime.

Justice Yashwant Varma has resigned. And that is the end of the corruption proceedings against him. No High Court or Supreme Court judge in India has ever been punished for corruption since independence. If a judge faces allegations of corruption, the Supreme Court itself examines them and may then recommend impeachment by Parliament. If the judge resigns before impeachment, the matter is closed. Though technically an FIR can still be filed after resignation, governments do not do so. They never have. So technically, Justice Varma walks free with pension, benefits, and title intact. Wishing honorable Justice Varma a pleasant and joyful post retirement life.

Asked someone from the industry whether foreign investors are still interested in allocating to India. The TLDR: Interest has pretty much died out. India is seen as geopolitically exposed, especially to an oil shock. There are no real AI plays. Valuations are rich. And the rupee situation doesn't help. On top of that, investors who were sitting on gains have taken money off the table and are now looking at markets like Japan, Taiwan, Korea, Europe etc instead. He also pointed out that our LTCG/STCG structure and the increase in STT have made India less attractive compared to other markets that are seeing inflows. If we need to attract FPIs back, and we do, fixing this feels like pretty low-hanging fruit.

Brilliant take! When fight is not fair, and you know it is not fair, look to survive.

@KobeissiLetter Why should countries which had no benefit nor were involved in this Personal War pay for the destruction??

BREAKING: The two-week ceasefire plan between the Iran and the US allows Iran and Oman to charge fees on ships transiting through the Strait of Hormuz, per CNN. A regional official said this money would be used for the reconstruction of Iran. Iran has been recently charging $2 million for a one-way voyage through the Strait of Hormuz.

The US–Israel–Iran war is not just a regional conflict. It’s quietly reshaping the global economy. 🧵

15/ Final thought: Wars today don’t just destroy cities. They reprice the entire world. And the real cost is not paid on battlefields — it’s paid slowly, daily, by ordinary people. At the fuel pump. At the grocery store. In their monthly budgets.

14/ This war is also accelerating a silent shift: From a cheap energy world → to a volatile energy world That means: - Higher inflation baseline - Lower purchasing power over time Not temporary. Structural.