Stock moved after media baron Raghav Bahl took over. Stock Exchange Rigging?
Why are the share prices of a little known company acquired by media baron Raghav Bahl skyrocketing? Gaurav Mercantiles Limited shares, which languished at around Rs.20-23 for the past several years till January 2019, are now priced at Rs.148 after the media baron acquired it in the first week of January. What was the reason for the dizzying rise of the shares of this little known company that too after Bahl and his wife Ritu Kapur acquired a 66 percent stake?
Raghav and his wife are also running the websites Quint and the financial news website Bloomberg Quint. This steep rise in the stock price of an unknown company is a fit case of investigation for stock exchange manipulations using their media organisation. It behooves the sleepy Securities and Exchange Board of India (SEBI) to look into this immediately. Raghav Bahl is already facing Income Tax department and Enforcement Directorate (ED) prosecutions.
Instead of appearing before the Investigating Officers, Raghav Bahl is now shooting off letters to Finance Minister Nirmala Sitharaman, misusing his media credentials.
PGurus has exposed Raghav Bahl’s controversial links with his newly acquired firm Gaurav Mercantiles and its shoddy acquisition of his own firm Quint Website owning firm Quintillion Media Private Limited. Now Gaurav Mercantiles has informed the stock exchanges that they have convened a Board meeting on July 17 to acquire the Quint website. PGurus first exposed this fraud deal by Raghav Bahl, who is not caught by Income Tax and ED[1].
Economic Times also reported on the doubtful deal of Raghav Bahl buying a non-working shipbreaking firm Gaurav Mercantile[2]. According to this report, the media baron who was caught for money laundering by ED had purchased this non-working firm for just Rs.5.64 crores, when its shares in Stock Exchanges were ranging between Rs.20-23. Now we are seeing that within six months the shares of this little known firm have shot up to Rs.148. How? What was SEBI and Stock Exchanges doing at the unnatural galloping of share prices when the major shareholder is running a stock market-related website, Bloomberg Quint? Is this not a clear case of stock rigging in the garb of media activities? For the past two decades, there are controversies about many business journalists and business-covering media houses for rigging stock exchanges and SEBI had punished some journalists for these kinds of unscrupulous activity[3].
Instead of appearing before the Investigating Officers, Raghav Bahl is now shooting off letters to Finance Minister Nirmala Sitharaman, misusing his media credentials. Raghav Bahl is an accused now and has no business writing to Ministers and crying of victimhood after being caught for money laundering. Now ED has unearthed his London home purchase details. There is a chance that Bahl could flee the country a la Vijay Mallya and Nirav Modi and its high time agencies are alert to prevent the escapade.
References:
[1] Raghav Bahl engaged in dubious sale of his The Quint website to his own newly acquired firm Gaurav Mercantiles. A case of Money laundering? Jul 3, 2019, PGurus.com
[2] Will a little-known ship breaker help Raghav Bahl raise funds from the market? Jul 4, 2019, Economic Times
[3] SEBI will soon take action in WhatsApp leak case – Jun 27, 2019, Economic Times
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Kahna kya chahte ho
What the crony capitalist friends of Modi and his support base of Indian corporate baniyas,have been doing for decades and still continue to do is the same.
Modi’s blue eyed boy Piyush Goel sells his shell company to Modi’s crony for 1000 times the value.
Vasundars’s friend Lalit Modi did the same.
Have u ever reported those things?
Behl may be using wool but Modi brigade uses iron curtain to fool the ppl
Sir Raghav Bahl is a Pakipanjabi who are genetic lumpens and crooks of highest order.Who can go to ANY EXTENT, including the “other obligations”which PC forced Indrani also, and they do it willingly. Is it not a FACT that this so called “eminent historian” Romilla Thapar, Pakipanjabi of the family of the running mad dog of White Brit Xtian enslavement of India, Kunj Bihari Thapar, who shamelessly gave Saropa and Rs 1.7 Lakh to Gen Dyer, (for those soldiers welfare who perpetrated the Jallianwala bagh genocide) just a day after the Jallianwala Bagh massacre, was just a BA (3rd class) that too in Sociology, when she was made one of the doyens of Fiction taught as history now, because she more than willingly obliged Nehru carnal pleasures. Its well known in Lutyens circles and entire Delhi (Note her so called BIL Karan thapar is reputed to be a Nehru spermFDI with one historian and that is why a traitor P.N Thapar was made Indian Army Chief in 1962, when it was well known even to low IQ, Nehr waale Chacha that Commies were hand in gloves with Chinese, sending their brothel women for Chinese soldiers, AND P.N Thapar brother was Romesh Thapar, heading the CPI-M at that time)- 1962 WAS DELIBERATELY LOST BY NEHRU IN CONSPIRACY WITH MAO. The idea being that Kailash Mansarovar and Tibet handover to Christian created bstds Commies- XTIAN VATICAN Destruction of Hinduism and Tibetan Buddhism being the goal
Raghav Bahl and Prannoy Roy were flourishing in slush funds of Congress of leaders’ black money from mid 90s. Crooks
Soon they should be nourishing in Tihar Jail