Economic Times headlines Congress Minister Mr Rajeev Shukla and his Influential Business Links

Headline in Economic Times this morning caught my eye where they have presented Mr Rajeev Shukla as a Man in Many Roles and his Business Interests  with Reliance Group,Shah Rukh Khan and IndiaBulls

Rajeev Shukla: Meet the minister, networker & businessman 

Also observed many Reader Comments were not complimentary of Mr Shukla

This triggered off a Memory of Insider Trading in 2007 ~Nothing Personal against Mr Shukla ,don’t know him, never have spoken to him or met him  ~ but in 2007 had advised  Clients to exit Bag Films,promotedby Mr Shukla and his Wife, on Corporate Governance Issues that revolved around Suspected Insider Trading

This is what had transpired two years ago in January 2007 and there has been no Investigation or clarification,either by BSE or by SEBI,despite their awareness.

Promoters,Chairperson & Managing Director,Anurradha Prasad and Director, Rajiv Shukla purchased shares of BAG Films on Jan 3,8 and 9,2007 before the Board Meeting on Jan 15,2007 to consider preferential allotment at Rs 13 to Sameer Gehlaut (promoter of IndiaBulls).Aggregate of 611283 shares were picked up,with the bulk of 567583 done so by Mr Shukla.These shares had been picked up from secondary market purchases between Rs 9.16 and Rs 12.45

On Jan 17,2007, BSE uploads their notice for the preferential allotment on the website

Price on Jan 17,2007 crossed Rs 20 and closed around Rs 19  …Price had doubled inside two weeks and volumes exploded.From the January 2007 high of Rs 23,the share price zoomed to a high of Rs 104.90 in the same year in November 2007

Those who suffered are the poor sellers in the first ten days of January 2007 at these prices of Rs 9.16 to Rs 12.45 as they were unaware of  what was unfolding!

 Ironically the company had send BSE notices for the promoter acquisition under  Regulation 13 (6) of SEBI (Prohibition of Insider Trading) Regulations, 1992  and BSE site shows these uploaded on Jan 10 and Jan 15,2007

 

Then from 2008 to 2012 had blogged several times on Mr Shukla’s business links with Shah Rukh Khan and IndiaBulls and others

IndiaBulls Group is BILKING INDIA say Veritas ! ~ There’s more than Meets the Eyes on both sides !

Wednesday, September 12th, 2012

5 thoughts on “Economic Times headlines Congress Minister Mr Rajeev Shukla and his Influential Business Links

    1. Titan lure is Gold Jewellery ~ and RBI’s Recent Restrictions on Import of Gold to be against 100% Cash Upfront and Not on any Supplier or Bullion Bank Credit + Rupee Depreciating by near 10% has dampened the Share Price to current Rs 212 ~ Margins,Demand and Revenues should get affected this Year ~ awaiting Titan Clarity on this

  1. was rajiv shukla press reporter. saw old intweview of thackeray taken by rajiv shukla ……………. gadkari was press reporter ……………………

    1. Yes Sameer, Mr Rajeev Shukla,was a TV Anchor & Interviewer too ~ which brought him close to influential bollywood,corporate and political personalities and was probably a stepping stone to him joining Politics full time ~ clearly leveraged on his network to further business Interests while being a Politician ~ Nothing wrong in this per se except that we have seen how situations can and do arise where there is conflict of Interest misuse of position and power to influence ~ personally I think he deliberately erred to pick up lakhs of shares of his own company from the Secondary Market in BSE in Jan 2007 just a few days before the Company issued a notice to the exchanges that the Board is meeting to consider a preferential allotment of Two Crore Equity Shares at Rs 13 to Sameer Ghelaut of IndiaBulls and Warrants of similar Value to Promoters ~ this clearly was evidence of Insider Trading

  2. hi Gaurav,
    “Titan Clarity ?” I think they already took meeting/conf where they announced raising 1000cr for to meet RBI restriction … titan famous for great model of Returns on Capital GOT fractured

Leave a Reply

Your email address will not be published. Required fields are marked *