ગુજરાતી
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Shares surged 9,000 percent, defrauding investors of billions
Dilip Patel
Ahmedabad, January 1, 2024
Bharat Global Developers’ share price jumped 2300% in a year. In the last 3 years, the company’s stock has gained 8731%. Therefore, SEBI suspended trading in Bharat Global Developers Limited shares. SEBI has also banned the company’s promoters from accessing the capital market until further orders. 10 thousand crore scam, Gujarati TV18’s business news seems to be helping in increasing the shares.
Reliance’s Director of Corporate Affairs Parimal Nathwani should clarify this publicly.
On December 16, 2024, it considered complaints related to social media posts, suspicious financial matters and disclosures.
Behind the boom of Ahmedabad’s Bharat Global Developers Limited was a scam of crores of rupees. A scam of laundering black money worth Rs 10,000 crore through trading in the company’s shares came to light.
SEBI, Income Tax and Enforcement Department (ED) did not investigate.
Revenue, expenditure, fixed assets and cash flow were very low till the year 2023. The company’s revenue and expenditure saw a sharp jump in the quarter ended March 2024.
Exposed orders
India Global Developers got Rs. 1500 crore worth of orders, which created an artificial surge in shares. According to a SEBI report, the company, which had a normal turnover from 2012 to 2023, suddenly got big orders in October 2024, a datalic cracker unit in Jamnagar for Reliance Industries, worth Rs. 120 crore. The project was falsely reported to be worth Rs. 120 crore. The share price also increased with the false announcement that it had received seven orders worth a total of Rs 1,500 crore.
SEBI ban
Apart from banning share trading, 41 operators and their associates are being investigated. The operators paid Rs. 271.58 crore in trading of this share.
Name changed four times
Incorporated in 1992 as Perfect Weavers, the company has changed its name four times. The company also changed its objective to projects like construction, infrastructure, new energy instead of the core business of textiles. A series of subsidiaries were set up and extensive expansion was also announced.
Black business
In March 2024, a black operator and his associates were charged Rs. 10 and in October 2024, preference shares were allotted at a price of Rs. 121. Apart from this, 99 per cent of the quota was allotted to operators instead of promoters in one go. If only a few people have shares in the market, then price fluctuations become easier.
Talking about a bright future, the operators increased the stock prices by insider buying and selling and then sold the goods at a higher price. An income of Rs 271 crore has been made. With a 1700 percent rise in the stock in one year, black money worth Rs 10,000 crore would have been smuggled.
Black operator
An operator known as Kale in the Ahmedabad stock market has played an important role in this fake company scam. This operator has a special relationship with a minister in Delhi. Therefore, there will be no setback in the entire scam. After the order of SEBI, the black operator had switched off the mobile phone. Earlier, but in various cases of SEBI, cases have been registered against these operators for manipulation of share prices. The operators went underground.
13000 crore
The operator and his associates had taken over all the shares of a shell company. In the same year, a company with a market cap of Rs. 13,000 crore was created. With the rising price of Rs. 500 crore shares were sold to small investors. The company has announced that it will bring bonus and give interim dividend.
Work
Bharat Global Developers Company has been working for years. J Green Energy. Works in agriculture, construction sector. 400 employees work in the company. The company completed 300 jobs. More than 20 awards were claimed.
Share Rs. 16 multiplied several times. The price increased from 642 to 1702.95 in October to November.
Ban imposed on 41 operators and their associates.
707 office was closed in Sun West Bank Building near Mithakhali Garanala on Ashram Road.
In March 2024, Rs. 10 and in October 2024, Rs. Preference shares were allotted at a price of 121. 99 per cent of the allotment was done by operators instead of promoters.
By paying 12% tax as against 30% tax, 17% tax is saved. Taking advantage of which the company is doing fraud.
TV18 Gujarati
The details of Mukesh Ambani’s TV18 Gujarati helping to increase the company’s prices by consistently giving big news are in the public domain.
TV18 reported that the board of directors of Bharat Global Developers has set December 26 as the record date for both corporate actions. Shareholders will be given bonus shares in the ratio of 8:10. This stock has given a bumper return of 516 per cent in 6 months. A tremendous return of 8553 per cent has been received in just 3 years. Meanwhile, investors’ money has increased 84 times. The company also constructs and develops buildings, roads and complexes. It also sources, imports and exports products for industries such as agriculture, textiles and consumer goods. Investors will get 8 shares for free
This company is preparing; It is a struggle to buy. The stock market is performing well. In November 2021, the price of one share of the company was just Rs 14, which has now increased to Rs 819.45. That is, in 3 years
Investors’ money has increased by 5,750 percent in India.
Bharat Global Developers has received a new order
TV18 wrote that Bharat Global Developers has recently announced that the company has received its first major order from its Greentech division McCann India Agro Pvt Ltd. The order is worth around Rs 300 crore, which includes the supply of 2,00,000 tonnes of Kufri Ashok potatoes in a period of 6 months starting from the current financial year. According to Bharat Global Developers, this acquisition is huge for Bharat Global Agrotech Pvt Ltd and strengthens its position in the Indian agriculture sector.
1 lakh became 58 lakh in 3 years
In November 2021, the price of one share of the company was just Rs 14, which has now increased to Rs 819.45. That is, investors’ money has increased by 5,750 percent in 3 years. During this period, investors’ money has increased more than 58 times. If you had invested Rs 1 lakh in this stock 3 years ago, today that investment would have grown to Rs 58 lakh.
What is the business of the company?
Bharat Global Developers Limited is one of the leading companies in India’s agricultural supply chain. Bharat Global said that it is optimistic about the future growth prospects of Bharat Global Developers Limited and is committed to continue its efforts to expand in the agritech industry. Bharat Global Developers Limited was formerly known as Kcrafton Developers. The company has recently announced the establishment of 6 new subsidiaries.
Today we are going to tell you about a stock that has given tremendous returns to investors.
TV18 writes that, (Disclaimer: The stock market information given here is only general information. News18 Gujarati or its management is not responsible for this. Consult your financial advisor before making any investment.) TV18 is trying to make people aware that SEBI and ED should investigate what is the role of the channel in sinking crores of rupees. (Google translation from Gujarati, see Gujarati on controversy)
