dinesh dalmia wanted by interpol
dinesh dalmia is wanted by the interpol and i read about it here. it was news to me but i realised that i had not been reading the papers carefully for a long time or may be enough has not been written about it.
about five years ago, dinesh dalmia's companies were at the peak. DSQ software shares were at the peak trading at rs 2300 and the m-cap should have been atleast 10,000 crore. DSQ biotech also announced grandoise plans. mr dalmia had a shady past especially with respect to dsq biotech, and everybody who knew something, knew it.
DSQ software was a though company to evaluate. the promoter was a crook but the company had some solid operations and very good middle management team and some managerial talent was brough in the top.
so, mr dalmia was able to market his company well. journalist wrote pages about it. foriegn investors flocked to it.
while the rise of mr dalmia had been penned in great detail, his fall has gone rather unrecorded, except for some writing of ms sucheta dalal and a few other stray articles.
after regulators started clamping down on his listed outfits, he began to focus on some of his unlisted companies in the BPO space, again with big plans.
this is an old story and perhaps badly retold. but the reason for putting it out is that we forget such events in bull markets like these or think they wont happen again.
sadly, markets dont change much and crooks are always out to make money and those operating now, i fear, could make mr dalmia look small. it is impossible to protect the lay investor against himself.
tailpiece: mr dalmi was holding an agm in chennai a couple of years back while the economic offences wing in calcutta had a warrant out for him. hope the interpol has better luck!
about five years ago, dinesh dalmia's companies were at the peak. DSQ software shares were at the peak trading at rs 2300 and the m-cap should have been atleast 10,000 crore. DSQ biotech also announced grandoise plans. mr dalmia had a shady past especially with respect to dsq biotech, and everybody who knew something, knew it.
DSQ software was a though company to evaluate. the promoter was a crook but the company had some solid operations and very good middle management team and some managerial talent was brough in the top.
so, mr dalmia was able to market his company well. journalist wrote pages about it. foriegn investors flocked to it.
while the rise of mr dalmia had been penned in great detail, his fall has gone rather unrecorded, except for some writing of ms sucheta dalal and a few other stray articles.
after regulators started clamping down on his listed outfits, he began to focus on some of his unlisted companies in the BPO space, again with big plans.
this is an old story and perhaps badly retold. but the reason for putting it out is that we forget such events in bull markets like these or think they wont happen again.
sadly, markets dont change much and crooks are always out to make money and those operating now, i fear, could make mr dalmia look small. it is impossible to protect the lay investor against himself.
tailpiece: mr dalmi was holding an agm in chennai a couple of years back while the economic offences wing in calcutta had a warrant out for him. hope the interpol has better luck!
posted by tvm at 4:00 PM
3 Comments:
Vow TVM. Thats news to me. I worked with DSQ from 96-97. I was in Biotech home products division. We were a big division then, meaning we had our own office with real staff, tables and chairs. Dont be surprised if I mentioned there was a hoard of companies called, Square D casting and forging, Square D distillaries/beverages, Square D textiles and what not. But they only had one or two tables though their names suggested big corps, they were merely two tables and two staff and one phone.
i guess that how DD used to work. some real, some virtual!
but the thing they manage to beat the system and other continue to do it.
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