A
daily illegal transaction of Rs 40,000 crores in Gujarat alone!!
Specialised
software that can penetrate BSE Index!!
Proven underworld links - for the
first time - in Indian stock markets!! For the first time on Indian television,
the Channel 7 investigation team records on camera the sensational story of dabba
trading that has had both the Securities and Exchange Board of India (Sebi) and
the Bombay Stock Exchange (BSE) on the tenterhooks with its illegal dealings touching
a whopping Rs 40,000 in the state of Gujarat alone. In a daring weeklong
operation, braving all odds, Channel 7’s special investigating team spent
time with the brokers and shot their entire operations all over Gujarat. The total
amount of daily transaction in dabba trading is half of the country’s Rs.
83,000 crore defence budget. All in a single day of transaction. All in a single
state. The team records the live drama for the Indian viewer - for whom the stock
markets are an ideal investment destination - and highlights the actual scale
operations of dabba trading. The special investigation team of Channel
7 brings to the forefront the skillful use of technology, which has the capability
of causing grave price distortions and volatility in the capital market. Operating
from non-descript addresses, the brokers - their office packed with sophisticated
equipment and gadgetry - act as hubs for nationwide operations of dabba. Available
at a high price of Rs 200,000, these sophisticated software helps them penetrate
the bourse and manipulate stocks. The show also illustrates the gullibility
of investors who become party to dabba trading and make some initial money from
what they perceive as a casino-like bank of the dabba-operator. But soon they
become victims of circumstances and lose precious investments. The team has captured
their views for the first time on Indian television. The in-depth investigation
of the team also reveals how the dabba traders have developed their links with
the underworld and how the D-company and its associates are penetrating - unlike
movies and real estates - a relatively new area. It recorded on camera top officials
of the stock markets and investigating agencies confirming the existence of a
trade they cannot comprehend or control. "We know it exists and is
very, very dangerous but then, we cannot do anything unless SEBI asks us. SEBI
needs to act… and act fast," laments V V Rao, executive director of
Ahmedabad Stock Exchange. Agrees Arun Kejriwal, one of India's topmost brokers:
"This is an evil operation and unless we check it, it will one day cause
serious tensions for the stock market." It’s a scam that can put
even a million Harshad Mehtas and Ketan Parekhs to shame. Its just the tip of
the iceberg though. After all, if this is the case with Gujarat, what is the true
picture of the nation? For further information, please contact: For
further information please contact:
Parul Bhasin/ Namrata Bhalla PR Pundit,
New Delhi
Tel: 2656 0415, 2651 3075, 93502 65351,9873313613 What
is Dabba Trading? Dabba is a trade where brokers and speculators illegally
bet in stocks in the grip of the Bull Run for quick bucks. A practice mushrooming
in several tier II towns like Rajkot, Vadodara, Jaipur, Jalgaon, Ludhiana along
with metros like Kolkata, Mumbai and Delhi. It is a trade where daily transactions
touch a whopping Rs 40,000 crores. A trade that is no holds barred and could double
if it continues its free run. The Indian dabba trade is a variation of the
American bucket shop operations of the 1920s, which were known to have mafia links.
In India, a sizeable number of brokers and sub-agents were found to have links
with the underworld. The last SEBI raid on a major dabba trader was way
back in 2003 when it raided Pradeep Kumar Bansal of Mumbai and Sunil Kumar Kalyan
of Kolkata. Both have been banned from trading in securities. How does dabba
operate? An investor wanting to buy 100 shares of say stock X, will have a one-share
transaction on the official bourse while the remaining 99 will be written in the
cash sauda (transaction) book. The multiple stock exchange memberships
allow dabba operators to log that single trade on the official exchange creating
an appearance of authenticity. But will these illegal trades continue to
flourish? And as long as there is large amounts of black money sloshing around
in the economy and the political class encourages large scale loot of the system,
there will always be a dabba market in some corner of the country, with operators
finding ingenious ways to camouflage their activities Parul Bhasin
PR
PUNDIT
P 2 Haus Khas, New Delhi 110 016
Tel: +91 11-26560415, 26513075;
Fax: +91 11-26961835
Mobile: +91 9350265351 | 
