Balu Lamkhade

Learner, Vipassana Meditator, Loves Reading & playing cricket

[Balu Lamkhade @BaluLamkhade]

@safiranand Sir, Recent developments related to JJM augurs well for WPIL. What is your view on WPIL ?

[Avinash Nahata @AvinashNahata]

Extremely Poor signal in Vashi sector 17 Navi Mumbai pin code 400703 since 100 Days, escalated twice, no response. We are in the securities business and our communications get recorded making us noncompliant. Seeking time-bound resolution @airtelindia @Airtel_Presence

[Kayezad E Adajania @kayezad]

How investment advisers got SEBI to listen

That day in October 2023, SEBI-registered investment advisers were in a rude shock. The venue was ARIA conference at Taj Land’s End. SEBI chairperson Madhabi Puri Buch was chief guest. Buch and Harsh Roongta, who was then the ARIA board chairperson took to the stage.

Advisers had a lot of complaints; too much regulation, compliance prevented new advisors from coming in and retail investors fell prey to bad advice.

One by one, Buch gave her pointed rebuttals and gave the audience a good taste of how the regulator works. You can read my tweet here from that day (https://t.co/cGtKlQpiUg); I was in the audience and was witness to a lot of grumbling among the advisers who were listening.

From that day in October 2023 to now- barely over a year later- SEBI has given in to almost every wish of the registered adviser. The July 2024 consultation paper, itself, was a major concession to some of the holy grails that SEBI had maintained over the years, but its latest ruling (January 2025) is an even further concession. And the regulations, in my opinion, haven’t been diluted to the discerning eye.

While credit goes to SEBI for keeping abreast with the reality, a big credit also goes to ARIA and the registered investment advisers. I had said in my October 2023 tweet that if RIAs want SEBI to listen, then merely complaining won’t do. A structured, systematic approach, better and sustained communication with well-argued points, supported by evidence would go a long way in breaking the ice. And ARIA seems to have done just that.

The entry of Kamlesh Chandra Varshney, Whole-Time Member (WTM), SEBI in September 2023 has also helped a lot. Varshney, I’m told, was always in favour for more advisers. But he is also said to be a very rationale person, armed with his own set of questions and effective arguments.

The advisory community also met Varshney and his team, more and more. Constant communication is necessary to drive home the point. ARIA appears to have realised that while hierarchy is important and must be respected, message must also reach the top, consistently.

Investment advisory falls under Market Intermediaries Regulation and Supervision Department (MIRSD). The team's head reports to the ED. The ED reports to the WTM (Varshney), who then reports to SEBI chairperson. I’m told that while the MIRSD was indeed in favour for making the IA regulations more robust and up-to-date, communication with Varshney was also crucial.

ARIA also stepped up its effort to get to the root cause of ill-advice. It commissioned studies that analysed SEBI orders, minutely and thoroughly and found out that the worst offenders were stock tip providers, under the garb of RIAs.

Not only this study made its impact, it also led to SEBI removing ‘trading call providers’ from the purview of investment advice, in December 2024.

It takes two to tango and SEBI and ARIA have worked together well.

[Amit Shah @AmitShah]

मैं उस पार्टी और उस संस्कृति से आता हूँ, जो स्वप्न में भी बाबासाहेब और उनके विचारों का अपमान नहीं कर सकती।

[Saint Soldier Wisdom @Sage1709]

Inner peace is the real victory.

Conquer yourself, and the world will follow.

[Balu Lamkhade @BaluLamkhade]

Path to liberation from misery

[NDTV Profit @NDTVProfitIndia]

Talking Point | UTI AMC's Chief Investment Officer Vetri Subramaniam (@VetriSmv) shares cues he's keeping an eye out for in 2023 along with investment strategies. @utimutualfund @niraj_shah. #BQLive https://t.co/RHdTyMvwhd

[Balu Lamkhade @BaluLamkhade]

@DaikinIndia
I regret me choosing Diakin for my AC needs. After 80 days of making 100 %payment no AC delivered. I don't know whether any cusotmer service team exists at Diakin who can respond

[Balu Lamkhade @BaluLamkhade]

@DaikinIndia
52 days ago 100 % Advance payment was made but no sight of delivery.

[Balu Lamkhade @BaluLamkhade]

@DaikinIndia
Despite 100 % Advance payment for the AC your team not able to deliver the product
No call from any one fom Daikin team to resolve the query.
Very dissatisfied and disappointed
9594064629

[Balu Lamkhade @BaluLamkhade]

@DaikinIndia

[Balu Lamkhade @BaluLamkhade]

@DaikinIndia
After 48 days also no delivery of product. Advance payment done.
Not honouring commitments

[Balu Lamkhade @BaluLamkhade]

@DaikinIndia
100 % payment done and after 48 days your employee and dealer says you have to wait for another 17 days for the product.
Pls look into it

[Balu Lamkhade @BaluLamkhade]

Happy New Year to All from me and my family and everyone at PARAMI

[Balu Lamkhade @BaluLamkhade]

@sajjanjindal @TheJSWGroup Happy New year to you and your family and everyone at JSW group

[Balu Lamkhade @BaluLamkhade]

@Cricketracker Indian cricket

[Balu Lamkhade @BaluLamkhade]

@ESPNcricinfo Not a correct one but we don't know the circumstances under which this decision is being taken

[Motilal Oswal @MrMotilalOswal]

To find peace, sometimes you have to be willing to lose your connection with people, places, and things that create all the noise in your life. - Buddha

[pankaj m tanna @pankajmtanna1]

#NoPoliticsOnTVDay - let's have a day of TV in India where the anchors do not talk about politics,and do not have debates. There are just two sides. With Modi and against Modi. Both are obnoxious and shameless. please share if you agree

[JSW Group @TheJSWGroup]

Our Chairman, Mr. @sajjanjindal has achieved another commendable feat by winning the honour of #BusinessManoftheYear, accorded by the Hon. Finance Minister, Mrs. @nsitharaman. Under his able leadership, we remain steadfast in our commitment to making the nation #BetterEveryday.