GECs
Dabba Trading: A multi-crore Stock Exchanges fraud captured on Channel7’s camera
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
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
