Tuesday, 19 February 2008

Underhand tricks to grab money

There are many a systems adopted by different businessmen to earn money or say grab money from the people. Most common feature these days is to use share trading as a tool for the purpose particularly with reference to Initial Public Offer (IPO). Alluring advertisements attract the investors who consider it a better strategy to invest at the initial stage in IPO which is supposed to be moderately priced at the outset. IPOs may succeed after they are listed in the regular share market and they may flop too like it happened only recently in the case of Reliance Power much highlighted as a Powerful Reliance Power which in reality was nearly a miserable flop. Another was the one floated by EMAR which too failed getting practically no response from the investor as a result of which it had to be withdrawn. In both the cases there is no refund given to the investers. Reliance Power extended partial allotments as against the applications for a bigger number of shares. There is nothing much wrong in it as it all emerges through business constraints but how come they didn't refund the balance amount of investors as yet. EMAR did neither return the total money deposited by investors nor they thought it feasible to make necessary statement on that count. In both the cases, like there might be several others too, they are holding the huge amount of money deposited by investors earning millions of rupees as interest thereon out of which not a single naya paisa is allowed to go to those who gave them this amount. If there is any thing like business ethics, there can be no justification at all in withholding public's money like this to earning multiple benefits out of it. This is highly unjustified, this is blatantly unfair.

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