Federation of small investors demands resignation of SEBI chief for approving Reliance Power IPO at such a high rate. Allege duping of investors all over the country. Investors plan protests outside SEBI office in Mumbai and out side ADAG money offices in various parts of the country.
Federation of Small investors, an apex body of investors from all over the country plan protest outside SEBI office tomorrow at Bandra Kurla complex in Mumbai and burn the effigy of SEBI chief M Damodaran and ADAG chief Anil Ambani against jointly looting of innocent investors and ignoring their interests.
According to Mr Ritesh Dewan, Secretary, of Federation of small investors "the investors on various occasions had written to SEBI chief to look into irregularities in the issue and safeguarding the interests of the investors, Despite all hue and cry by the investors, SEBI cleared the issue and the results are here to see, heavy loss to small investors"
"The SEBI has been set up as regulatory body to safeguard the interests of investors, but in most of the cases it has been found siding with the promoters" he added.
"Small investors across the country had opened new Demat accounts and invested their whole life savings in the Reliance Power IPO., Most of them have lost money and their savings" said Mr Raj Kumar , a small investor
"Investors in Ludhiana, Chandigarh, Delhi and other cities will be protesting soon. The first protest will be held in Mumbai outside SEBI office" said S.K.Chibber another office bearer of the federation.
"Reliance Power IPO is the biggest scam of all the scams till date. The concerned authorities, regulators, merchant bankers, media and brokers have earned crores at cost of small investors" said Sourit Kumar, a young college going investor.
"A CBI inquiry should be immediately ordered into the whole affair to bring out the whole truth and culprits brought to book" , demanded another investor, Shishir Sharma
- Related Videos
- Related Articles
- Ask / Related Q&A
- Finance Ministry Asks Sebi to Scan Alleged Irregularities in Reliance Power Ipo
- Rel Investors Demand Sebi Chief Resignation and Probe Into Reliance Power Ipo
- Sebi Must Protect the Interest of Investors in Testing Time
- Few Points About Reliance Power Ipo Investors Should not Overlook
- Is There Still Enough Appetite for Ipos ?
- Investors Plan Protest Against Sebi and Reliance Power Ipo for Duping Consumers
- Regulation for Withdrawal of Applications by Retailers and Hni in an Ipo
- Rajkot Investors Filed Appeal Against Sebi Order on Reliance Power Ipo
Wholesale HTC T5353 Touch diamond phone windows 6.1 with GPS WIFI java 2GB
By: agoodic | 25/12/2009Wholesale HTC T5353 Touch diamond phone windows 6.1 with GPS WIFI java 2GB HTC T5353 GPS Phone support GPS navigation function, can upgrade maps for free, It also support WIFI and JAVA function, it is really a multi function cell phone. Then it works on GSM 850 / 900 / 1800 / 1900 MHz band, can be used worldwide.
So You Want To Start Your Own Business. Should You "go It Alone", Or Select A Franchise?
By: Michael B Tunstill | 25/12/2009It happens to nearly everyone at some point in their life: The desire to start a business of their own. The motivation varies quite a bit from person to person, but common reasons include: The need to escape a grueling schedule, workload, commute, an over-bearing boss, or just the need to...
How to Create Massive Traffic for Your Website
By: James Trent | 25/12/2009Thousands of new websites enter the internet world everyday. Some garner publicity and some just sink without a trace. Driving traffic to your website in the already crowded world of the internet is an art. An art that needs to be studied and implemented with precision.
Effective Time Management -- Separating Entrepreneurs from All the Rest
By: Benjamin Glass | 25/12/2009The end of the year is a great time for personal assessment. Many great entrepreneurs use this time of year to not only plan next year's journey but to make an honest appraisal of the last 12 months of our lives. As I look forward to 2010 I see a calendar that is almost overflowing as it is.
Top Quality Paintings are not out of your Reach
By: Vikram kuamr | 25/12/2009Many people who love art believe that finding top quality pieces of art are out of their reach.
Places to look to help you find Great Paintings for Sale
By: Vikram kuamr | 25/12/2009Finding a good place to get a great painting can be easier than you think. Many places are available to sell you artwork, but the Internet has made it possible for people to quickly and easily find whatever they are looking for and this includes artwork.
Balancing The Budget With The Shared Office Space Chicago Provides
By: Daniel Manson | 25/12/2009As one of the largest business hubs in North America, Chicago has recently seen some very tough years as the cost of doing business has increased while profit margins shrunk. Many companies, unable to pull survival loans from the banks, were forced into bankruptcy, while others restructured, closing unnecessary and unprofitable locations.
The Temporary Office Space New York City Provides Offers Meaningful Cost Savings
By: Daniel Manson | 25/12/2009The state of the economy has made it difficult for businesses and consumers alike, and as the cost of living continues to grow, recovery seems a distant dream. As people struggle to afford necessities and have little expendable cash, businesses feel the crunch and adjust their structure accordingly.
Ada is Considering Diluting His Equity Stake in Reliance Power
By: Dev Ghosh | 18/02/2008 | BusinessADA is considering diluting his equity stake in Reliance Power to the extent that the effective cost of share acquisition by AAA Investments (A personal ADA firm), Reliance Energy and the retail investor will be at par
Investors Plan Protest Against Sebi and Reliance Power Ipo for Duping Consumers
By: Dev Ghosh | 12/02/2008 | BusinessFederation of small investors demands resignation of SEBI chief for approving Reliance Power IPO at such a high rate. Allege duping of investors all over the country. Investors plan protests outside SEBI office in Mumbai and out side ADAG
Reliance Power the Unluckiest Ipo Ever in India
By: Dev Ghosh | 12/02/2008 | BusinessReliance Power is the first company bearing the Reliance tag and showed losses of the listing day
Rel Investors Demand Sebi Chief Resignation and Probe Into Reliance Power Ipo
By: Dev Ghosh | 11/02/2008 | BusinessREL investors say that their pre IPO fears vindicated, demand SEBI chief Damodaran’s resignation for being part of the national fraud and ignoring investor’s interest. Term Reliance Power issue biggest fraud on innocent Indian public. Blame Panvati Anil Ambani for the present day of markets
Ada Celebrates His Wealth on the Tunes of Nero
By: Dev Ghosh | 11/02/2008 | BusinessADA throws party tonight to celebrate success of IPO and successfully proves himself as modern version of the Rome king- Nero
Supreme Court Issues Notice to Central, State Govt Over Dadri Project
By: Dev Ghosh | 09/01/2008 | BusinessThe Supreme Court today issued notice to the Union of India and the State of Uttar Pradesh on a petition challenging the legality of land acquisition for a mega-power project popularly known as the Dadri Project
Reliance Power Trying to Rush With Ipo
By: Dev Ghosh | 05/01/2008 | BusinessReliance Power trying to rush with IPO by modifying originally proposed terms in order to avoid public scrutiny and answers to key questions related to corporate governance
Rajkot Investors Filed Appeal Against Sebi Order on Reliance Power Ipo
By: Dev Ghosh | 02/01/2008 | BusinessRajkot Investors filed appeal against SEBI order on Reliance Power IPO