Vinod Sancheti

CA,
CS,
LLB

[Vinod Sancheti @ca_sancheti]

A truly memorable and enriching meet with @rajsodhani Sir! Your heartfelt words, invaluable insights, and experience were truly inspiring. Appreciate your Vision and way you analyse things.
You are a gem of a person. Hope to see you soon again in Pune, Sir!

[Vinod Sancheti @ca_sancheti]

@BaluGorade Operator

[Vinod Sancheti @ca_sancheti]

@cadeepakgupta_ [email protected]

[Sam Stein @samstein]

Twitter used to be a good service for breaking news but the algorithm is at its absolute worst right now

[Vinod Sancheti @ca_sancheti]

@agoda Your app is behaving in faulty manner.
I booked for 2 adult- 2 children but it got booked for 1 person only. Now Hotel is asking for additional charges more than the booking amount.
Is it bug in app or a way to extort money..?
A multinational player can't have such app?

[Vinod Sancheti @ca_sancheti]

@agoda Your app is behaving in faulty manner.
I booked for 2 adult- 2 children but it got booked for 1 person only. Now Hotel is asking for additional charges more than the booking amount.
Is it bug in app or a way to extort money..?
A multinational player can't have such app?

[Vikram Kotak @VikramKotak]

Not very long few years back
We got this slang very popular in Indian financial world.
FOMO ( fear of missing out ). Today also FOMO acronym is holding well. Only change now FOMO means ‘ Fear of market opening’
#nifty #war @AnilSinghvi_ #fomo

[Varinder Bansal 🇮🇳 @vbomkara]

Did you know: Jain community is just 0.5% of population but contributes to 24% of taxes in India. Salute.

[Atul Modani @atulmodani]

The Autocratic attitude of CBDT is not new in 2015 also it done the same. it changed the forms and utilties over a dozen times, released it late near fag end of due dates.

Cases were filed against #Incometax department across country by many tax payers and tax professional organisations.

CBDT at first extended due dates only in states where HC directed it. But after it was evident that they have unnecessarily created a blunder and dont have capacity of portal to track such filing have extended due date for entire country on 1st October, i.e. after due date of over.

This babudom is a big hindrance in taking country forward if this is the case even after 10 years @narendramodi ji. There is no loss of revenue stll @FinMinIndia is acting against taxpayers of the country who are making compliances with minimal possible support from ministry.

I hope someone from @PMOIndia acts. Tax administration should be friendly and not indudlge in tax terrorism.

#TaxAuditExtension

[Atul Modani @atulmodani]

Nearly 15 plus Writ Petitions have been filed by Taxpayers and tax bar associations across country against @IncomeTaxIndia over unthoughful deadlines of tax audit because of glitches on portal which led to extension of due date of non audit returns by 45 days there by giving time of just 15 days to taxpayers whose accounts needs to be audited and file with ITD by 30th September.

Ours seems to be only country where taxpayers needs to go to court fo demanding natural justice and ease of doing business. @PMOIndia @nsitharaman

#TaxAuditExtension

[Vinod Sancheti @ca_sancheti]

@ThetaVegaCap #Gold rallied 10% in 20 days...
Not Sure Gold is giving right signal or equity....

Either one needs to correct...

Both can go hand in hand as it did in past but not at this pace...

@ThetaVegaCap your views??

[Vinod Sancheti @ca_sancheti]

@CANITINCHAWLA ICAI has made a Representation for extension of TAR upto 31st Oct.
In such a case it's unlikely extension will be for 2 month.
Diwali will be celebrated in Office.

[Vinod Sancheti @ca_sancheti]

@SandeepKrJainTS @IncomeTaxIndia 😀😀

[Vinod Sancheti @ca_sancheti]

@ThetaVegaCap Similarly HDFC midcap opportunity fund-Direct (Now HDFC Midcap Fund) from 2013 from 10 to 215 today...

[Vinod Sancheti @ca_sancheti]

This very True. Our sovereign portals such Income Tax, GST etc are of relevance to many foreign investors and business promoters.
It becomes the image of our country how we handle with so slow, ineffective portals when we look forward to #Digitalindia and #easeofdoingbuisness

[Atul Modani @atulmodani]

Dear @PMOIndia @narendramodi ji

Even after 4 years of expending nearly 4500 Crores Rs , the @IncomeTaxIndia portal is not working glitchfree.

A small report which could easily be downloaded in few seconds is not getting downloaded since morning.

This year the incometax portal is down since start of Efiling season and very sorry to say that it is not working glitchfree thereby hampering Return filing process for lakhs of taxpayers and tax professionals who are assisting them and thereby helping the nation.

You need to take note of the same as @FinMinIndia is not taking any sort of action.

Tweeting this as a last resort and in wait for kind action by you.

This is a big blot on #DigitalIndia dream of a country which wants to be a develped nation by 2047. Such attitude of regulators willl be detirmental for the cause while taxpayers and professionals are diligently doing their duties.

[Atul Modani @atulmodani]

Hi Nithin

Gone through your tweet, article you shared with it and the video embedded in the article regarding The risks of investing in unlisted shares.

I congratulate you for bringing the risk associated with buying #Unlisted shares in brief.

The transition from conventional savings methods to investment-oriented approaches in India has encouraged substantial implications for financial stability at both the individual and societal levels. This shift represents a significant departure from traditional financial practices deeply ingrained in Indian culture, where risk aversion and a preference for tangible assets have long been predominant. Investor today is ready to take risk so as to earn better returns in falling interest rate scenario.

𝗘𝗾𝘂𝗶𝘁𝘆 𝗮𝘀 𝗮 𝗵𝗼𝘂𝘀𝗲𝗵𝗼𝗹𝗱 𝗮𝘀𝘀𝗲𝘁 𝗵𝗮𝘀 𝘀𝗲𝗲𝗻 𝗿𝗲𝗺𝗮𝗿𝗸𝗮𝗯𝗹𝗲 𝗴𝗿𝗼𝘄𝘁𝗵 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝗹𝗮𝘀𝘁 𝗱𝗲𝗰𝗮𝗱𝗲.

From a modest 3%, it now stands at 5.8% of total Indian household assets. Looking ahead, this upward trend is poised to accelerate, potentially tripling over the next 10-12 years. By 2035, Indian households could hold 18-20% of their assets in equity, reflecting a significant shift in financial planning and risk appetite. This suggests, Indian Investors are now ready to take risks by investing in Mutual Funds as well as Listed Equity shares.

I have following additions on the subject of changing paradigm of financial space in India, especially on your recommendation, "you are better off investing in mutual funds than trying to pick unlisted companies" .

1) Straightway asking investor not to buy Unlisted or Pre-IPO shares is incorrect IMO while I appreciate it carries variety of risks. As a responsible owner of India’s prime broking house, thousands follow your advice and your advice can impact market sentiments, mostly for small investors who have already bought the unlisted shares. Even I have alerted regarding risk carried in unregulated unlisted share markets in October 2024 itself via my views printed in The Mint for those who does the investment in the same, the news piece is attached herewith.

2) Price discovery as mentioned in the article is basic feature of Demand and supply, the market forces decides it, whether for unlisted shares, private placement, listed equity shares, Mutual Fund or ETF.

3) Many of those shares which are unlisted today are naturally going to be listed going ahead and will carry same price discovery mechanism. Few will become profitable in long run and few may not just like other listed shares as of now. Again it is market forces which will decide the fate, I hope investor who is taking a bet is aware of the same.

4) Mutual Funds are subject to market risk is the basic premise and covenant while anyone recommends or advertises to invest in it, so risks are also associated with investing in Mutual Funds and it may also erode wealth in few cases. India has seen many mutual funds AMCs and schemes going bankrupt (e.g. – Unit trust of India, Mastergain. Mastershare etc.) . There were front running scandals in existing top Mutual fund AMCs (Quant, Axis etc.) in last decade and action was taken by SEBI on same. Mutual Fund returns are also subject to market volatility and vary according to performance of equity markets.

5) Listed Equity space is also full or risk, volatility still India’s equity market is now 4th largest in the world in terms of market capitalization. The price discovery as you mentioned in your article is decided by market sentiments based on demand and supply just like unlisted space. One example here is Fall in Darling of Indian investors Reliance Industries from High of Rs 1603 to Rs 1103 (30 % Plus fall) since July 2024 to April 2025 and vertical rally in the same in just 2 months till June 2025 to Rs 1522 (38 % plus gains from recent lows). We saw vertical fall in IndusInd bank share prices of over 40 % in 2 days after the news of Scam in derivative accounting which management said will impact its net worth only by 2 %.

6) IPO- We have seen how overpricing of IPOs is gone unnoticed even today. Much hyped IPO of Reliance Power had become penny stock alongwith other Anil Ambani group stocks. Indian SME IPO space saw many IPO investors facing over 90-95 % losses. There is least due diligence by investors and SEBI in this matter. A Two wheeler workshop owner came up with SME IPO and got bid of Over Rs. 5000 Crores whose IPO was oversubscribed by 400 times. PayTM CFO said that they feel they have offered IPO at very less prices, situation today is it is still more than 60 % down from the IPO price. LIC, India’s largest IPO , a govt company saw a fall of over 50 % from IPO price and today is trading at IPO price even after 3 years of listing.

7) FDR in Credit co-operative societies and co-operative banks: In region of Marathwada of Maharashtra from where I belong, in last 2-3 years many Credit co-operative societies and co-operative banks have gone bankrupt and 5000 Crores worth of investors’ money is stuck up / lost. There is no DICGC insurance for the same. The owner of these banks/ societies are politically expose person, one also joined the ruling party and tried to save himself and wife. Today the poor people have not received any money, last week an investor have ended his life hanging himself in bank premises as he lost money and could not marry his daughter, photo of which is attached in this reply of mine. You can imagine situation in other parts of the country.

8) F&O Casino: SEBI has come up with warnings and data that over 90 % of traders incurs losses in F&O still the roulette is running and continue to do so. Likes of Janestreet and other big sharks are controlling the expiry game even today, latest example is recent nifty expiry which saw IV of 50 %. Over 95 % of daily turnover even today constitutes F&O turnover and Broking industry in India have gained windfall because of same even though over 90 % traders lost money. You will remember Zerodha used to have many glitches especially during weekly expiry day or other days where high volatility was expected and traders could not settle positions, there were many tweets and grievances for this effect.

9) Many high profile anchors and analysts appearing on business news channels have been debarred by SEBI for Front running while investors suffered badly in few stocks they recommended.

10) As per SEBI rule, one cannot give advice unless he or she is Registered RA or IA. I don’t know about you, but anyone openly asking to invest is some stocks or funds would have faced SEBI action. As zerodha earns revenue from Mutual funds, this tweet can be treated as from an interested party trying to divert investors from Unlisted space to Mutual fund , which I am sure is not the case as your purpose is only of awareness.

11) As you Tweeted out that a wealth manager approached us recently to buy one of our unlisted companies so that he could sell it at a 50% markup immediately, It will be prudent if you can disclose his name and reason for the asking you the stake, is there any news which he is aware of regarding the unlisted shares you mentioned in your tweet?

I tried to point out few examples in view of time and space constraint, I hope you will take these in consideration and put these before @PMOIndia , @FinMinIndia and also @SEBI_India via your association so as to mitigate risks in all the above field as you are one of the known and powerful voice in Indian Fintech.

We have to work ethically, following rules and regulation to make Indian Investors and Indian financial markets more and more robust to achieve our dream of making India a developed nation before 2047 and making Indians financially literate.

Thanks
CA Atul Modani

[Vinod Sancheti @ca_sancheti]

@cbic_india Instructions issue 03/2025 for GST Registration are binding on officers? Application pending for ARN:AA270625030053L dated 6.6.25.
Separate wing for registration is in place for Centre but still delay,In SGST no separate wing but still in time approvals @Infosys_GSTN

[Vinod Sancheti @ca_sancheti]

@cbic_india Instructions issue 03/2025 for GST Registration are binding on officers? Application pending for ARN:AA270425047002N dated 9.4.25.
Separate wing for registration is in place for Centre but still delay,In SGST no separate wing but still in time approvals @Infosys_GSTN

[Vinod Sancheti @ca_sancheti]

Pimpri-Chinchwad's infrastructure has reached a top-notch level, and @shekhardalal Sir is elevating it further with technology and AI. He shared his vision for PCMC in the presence of @Dev_Fadnavis and @AjitPawarSpeaks

[Vinod Sancheti @ca_sancheti]

@askGST_GoI
Even after 1 month GST regst appln pending.
Rule-9 Regst to be granted within 7 days or it should be deemed to be approved.
But I am sure @Infosys_GSTN will raise irrelevant queries and get it delayed further...Let's see ..GSTN is above law
#easeofdoingbusiness #GST