Roopesh Shenoy

Building a world I’d love my kids to live in.

[Roopesh Shenoy @sqlhorror]

@IRCTCofficial can you help me understand what the problem is here?

(The password is not same as any of last 3 passwords for sure and as seen here - fulfils all conditions and is still not accepted).

[Roopesh Shenoy @sqlhorror]

@Dutta_Souravd People getting falsely implicated in corruption cases will increase.

[Roopesh Shenoy @sqlhorror]

@Iamsamirarora Mr. Buffet got a much earlier start and had much more capital to work with by the time they even started working together. Mr. Buffet also owned Berkshire (majority of it) before Mr. Munger joined him. AND Mr. Munger started giving away money much, much earlier.

[Manu Rishi Guptha @manurishiguptha]

सत्यमेव जयते (Truth alone triumphs )

@ICICIBank @ICICI_Direct has spent tens of crores of shareholders' money in trying to prevent @SEBI_India (Despite SEBI's willingness right from day one) from handing over the pivotal document that is being used to bulldoze the fraudulent process of ISec delisting.

The loss to the shareholders in the present form of delisting is nearly 1200 per share. Multiple logical valuation methods determines a price of nearly 2100 per share of ICICI Securities.

#ICICIBank allegedly used every dirty trick in the trade including (self-nomenclated) Project Irongate to influence shareholder voting.

Finally, Hon'ble Bombay High Court has asked SEBI to disclose despite vehement opposition by #ICICIBank

A few questions need to be pondered over:

Why has no one in this country seen the very document that has been used to deviate from the reverse book-building process for delisting?

How has the exemption been interpreted internally by ICICI Bank to further its nefarious intention which even NCLT is unaware of till date?

Who-all in the 2 boards will be held responsible for launching an illegal nationwide project that the Bank used to influence the voting process?

Who will pay for the biggest data breach and compromise in the history of corporate India, the complicity facilitated by the 2 MD's of respective companies?

What has been the role of Independent Directors of the 2 organisations and how should their role be interpreted in future?

Should directors be made to pay for wasting shareholders' money in frivolous lawsuits in trying to push their illegality and questionable intentions?

Which all #mutualfunds managers will be held to account, for compromising the interests of their unitholders - by voting FOR delisting in its present form?

And Lastly

Will better sense prevail NOW among the 2 Boards to cancel this delisting and be fair towards the Minority Shareholders?

To read more about project Irongate click the link below
https://t.co/3CcjML5vMO

[Moneylife @MoneylifeIndia]

ICICI Securities Delisting Saga Escalates: Investor Challenges SEBI's Exemption in Bombay HC
https://t.co/RPThDMLmdA

via Moneylife App. Download Now : https://t.co/oCY4nDKVz1 @suchetadalal @Moneylifers @yogtoday

[Roopesh Shenoy @sqlhorror]

@Iamsamirarora ICICI securities is a better business. Generates cash, is smaller and growing faster, has a great ROE.

[Roopesh Shenoy @sqlhorror]

@Akshat_World Thank you for sharing this. Check the latest update. Like the capt hoped in his original post, there does seem to be some justice.

https://t.co/RbTkbNgcu3

[Roopesh Shenoy @sqlhorror]

RT @manurishiguptha: An Open Letter to Mr. Sandeep Bakhshi Ji CEO & MD of @ICICIBank

Dear Sh. Sandeep Bakshi Ji,

It broke my heart to re…

[Manu Rishi Guptha @manurishiguptha]

The Moral and Professional Poverty of a few Indian Fund Managers

As the average Indian is smitten by the India growth story; swears by the #Mutualfundsahihai indoctrination and encashes his family FD to make the monthly SIP, he/she puts blind trust in the ability, conduct, and values of the fund and its manager who is supposed to be the custodian of the investment and anticipated returns.

People trust Mutual Funds to plan their retirement, pay for their children’s education, save for the rainy day and are relentlessly feeding to the SIP (Systematic Investment Plan) mania.

All this to generate a couple of % points over and above the bank FDs.

And these MFs and the market commentators can’t stop gloating about the tens of thousands of crores that are pouring monthly into the markets through them.

This responsibility of being the custodian and manager of people’s life savings endows a huge debt of burden on the fund manager, and all his actions should put the interest of his unit-holders/clients before anything else.

But if this capital lands in the hands of people whose intent, competence and decision-making ability, leaves much to be desired, I wonder what would be the fate of the equity culture in a country where this culture is just beginning to sprout out of its seed and every opinionator is extrapolating these monthly SIP numbers to future decades.

The recent events leading to the proposed delisting of #ICICISecurities by #ICICIBank raises serious concerns about the intent and actions of these mutual fund managers whose actions have left me wondering with one simple question:

Are these Fund Managers really acting as custodians of their unitholder's interests?

This bull on the Dalal Street is feeling stabbed in its chest and stands crippled if the conduct of the very custodians of this bull leaves many questions unanswered.

The resolve of the minority retail shareholders of ICICI Securities in opposing the delisting amidst the constant pressure from the bank’s workforce is to be commended but what baffles me is – WHY DID SO MANY FUND MANAGERS ACT AGAINST THE INTEREST OF THEIR UNIT HOLDERS and what could be the underlying compulsions.

The few mutual funds that bought ICICI securities at a premium to the swap ratio in the last few months that have voted IN FAVOR of the delisting might want to answer the following key questions to the public and to their unitholders at large:

1) Why did you vote in favour of the delisting of ICICI Securities when the swap ratio is clearly against the retail shareholder’s (and your own unit holder’s) interests?

2) Why did you buy ISec shares at a premium to the delisting price in the last few months if you favoured the delisting? – You could have simply added to your ICICI Bank ‘s position

3) Did you buy these at premium only to help the bank get through the delisting process? – Thereby establishing ‘THE’ conflict of interest??

4) There couldn’t be any ‘Quid Pro Quo’ – Could there be?

For the benefit of corporate India and the burgeoning investing culture in the country, the top bosses of these fund houses must seek clarification from their fund managers as well, else the public might start considering them complicit and compromised as well.

This seemingly small mistake of letting one large mammoth, gulp its small listed subsidiary and thereby short-change ~ 1,45,000 investors tantamounts to broad daylight robbery and will go down in the history of the Indian corporate world as the biggest heist and the perpetrator getting away with it without any punitive damages.

The Indian investor has just started to enjoy the fruits of equity market returns and this awareness has just begun to spread and is aiding to develop a robust equity culture in the country.

And, if this starts getting established that mutual funds might not be acting in the best interest of unitholders, and are in cahoots with someone or another, the entire billions of dollars of monthly figures that we all are so proud of can come crashing down in a hurry.

And the only question that will remain unanswered then is – "Is it corruption, incompetence or diluted intent?"

[Manu Rishi Guptha @manurishiguptha]

#icicisecurities #ICICIBank

Numbers speak for themselves, #ICICIBank 's outreach initiative has paid off.

Individual shareholders have voted in huge numbers against Delisting, with more than two-thirds (68% to be precise) majority voting against delisting. .

Institutions holding shares in both companies and voting in favor are disqualified, with a Conflict of Interest, clause.

Now withdraw Delisting as per clause 12.4 on page 76 of the Notice, in larger shareholders interest.

@ICICIBank - You have this opportunity to save your face and to do right by the minority shareholders. Else #sandeepbhakshi s legacy won't be starkly different from his predecessor's.

One did wrong to the bank and one is doing wrong to the minority shareholders.

[Roopesh Shenoy @sqlhorror]

@SanaSecurities If you don’t want to buy, don’t buy. If you hold already and want to sell - sell and buy ICICI bank shares. Who are you to dictate what other shareholders should do? I’ll hold it for 20 years if it remains public, that’s my choice.

[Roopesh Shenoy @sqlhorror]

I really hope mutual funds who bought at a premium to swap ratio will vote against resolution and are not just losing investor money (vs just buying icici shares directly) to help ICICI bank management pull this off.

[Hoshner Patel @Hoshnerpatel]

The day of reckoning is finally here. We'll have to wait and see whether mutual funds and financial institutions uphold the interest of the minority shareholders and act accordingly by voting against the delisting. @LICIndiaForever @KotakMF @SEBI_India @_anujsinghal @ZeeBusiness

[Roopesh Shenoy @sqlhorror]

First vote of my investment career. Thank you icici for trying such a grave injustice that even passive shareholders are becoming more active.

[Hoshner Patel @Hoshnerpatel]

#IciciSecurities #E-Voting #Rejected #IinvestorAwareness #CorporateGovernance #StopTheLoot #StockMarkets @LICIndiaForever

VOTED AGAINST.

[Hoshner Patel @Hoshnerpatel]

#IciciSecurities #E-Voting #Rejected #IinvestorAwareness #CorporateGovernance #StopTheLoot #StockMarkets @LICIndiaForever

VOTED AGAINST.

[Roopesh Shenoy @sqlhorror]

mutual funds have a stewardship responsibility. LIC defeated Vedanta and can do it again with ICICI.

[Vikrant Darak @VikrantDarak]

Request MFs to follow the 'Stewardship Responsibilities' against these arbitrary steps initiated by @ICICIBank @icicisecurities. Retail s/holders dont deserve this unfair & unjust treatment.@SEBI_India @MFSahiHai @amfiindia @KotakMF @quantmutual @utimutualfund @LICIndiaForever

[Vikrant Darak @VikrantDarak]

Request MFs to follow the 'Stewardship Responsibilities' against these arbitrary steps initiated by @ICICIBank @icicisecurities. Retail s/holders dont deserve this unfair & unjust treatment.@SEBI_India @MFSahiHai @amfiindia @KotakMF @quantmutual @utimutualfund @LICIndiaForever

[Roopesh Shenoy @sqlhorror]

@bqprime Deal.

[Roopesh Shenoy @sqlhorror]

@Bajaj_Finance Please respect universal DND list. Don’t make us sign up in one more place.

[Roopesh Shenoy @sqlhorror]

@Bajaj_Finance @hirenparekh . Maybe by default, you shouldn't call people - not unless they have given you explicit permission to call them. Should we have to visit every single website and then register our number just to not receive spam calls?

[Roopesh Shenoy @sqlhorror]

@RailwaySeva Complaint resolved. Thank you so much for the quick help!

[Roopesh Shenoy @sqlhorror]

@RailMinIndia toilets really dirty on this train. I tried other avenues (139 and 9200003232) but just not able to get through. Could you suggest whom to seek help from for cleaning? PNR 4344438453 (CMNR TPTY EXP)

[Roopesh Shenoy @sqlhorror]

@RailwaySeva Sent DM.