Palak Shah

Author

The writer is author of the book: The Market Mafia - Chronicle of India’s High-Tech Stock Market Scandal & The Cabal That Went Scot-Free. Palak has been a journalist in Mumbai for nearly two decades now. He has worked for most premier pink papers including The Economic Times, Business Standard and The Financial Express and The Hindu Business Line. He was drawn to crime reporting at the age of 19 but a few years in the field told him that the fabric of crime had changed and the organised gangs, as Mumbai had witnessed during the eighties, no longer existed. It was business and markets that dominated the scenario. His passion to unravel the intricacies of the ‘white money’ economy led Palak to the world of finance and regulations.

Latest Articles By Palak Shah

Maharashtra's Rs. 40,000 Cr Power Tender Faces Regulatory Scrutiny

Energy & Infra Jul 01, 2024 9 min(s) read

Discrepancies include: Lack of prior regulatory approval, full tender to single bidder, no part capacity bidding allowed as per TBCB guidelines, deviation in bidding sort after issuing tender, rules on Weighted Average Tariffs not followed and so on...

UBS Offshore Accounts: Sebi's Half Baked Case Against Indian Billionaires

Markets Jun 28, 2024 10 min(s) read

Round Tripping of funds via Offshore Accounts linked to UBS Pluri was much hyped when SEBI summoned Anil Ambani in 2010. Unitech's Sanjay Chandra, liquor baron Vijay Mallya and Jai Shroff of United Phosphorus were also under the probe. Ambani and his associates together paid Rs 50 crores and faced debarment from stock markets, Chandra got clean chit and nothing yet on Mallya and Shroff. Another steel and oil businessman is untouched

Sebi Board May Approve New Derivative Criteria For Stocks

Markets Jun 27, 2024 4 min(s) read

New rules on F&O inclusion and exclusion being proposed to curb manipulation. Criteria around trading history and volumes to be tightened for inclusion of stocks in F&O. Also, stocks with lower trading in F&O to be automatically thrown out

How Indusind Bank's Public Shareholders May Be losing Out To Promoters

Banking & Finance Jun 26, 2024 4 min(s) read

Unlike India's other large banks, all the para banking assets are being acquired by promoter entity IIHL instead of Indusind Bank, which has the same aspirations. Promoters gain but are public shareholders of the bank losing out?

Budget Woes For Jewellers? Rs 2 lakh Cash Limit May Be Reduced to Rs 50K

Economy Jun 26, 2024 3 min(s) read

India's huge jewellery retail market is under the scanner for non-compliance with PMLA norms

DMRC Curative Judgement: Was SC's Faith In CMRS Justified?

Energy & Infra Jun 22, 2024 16 min(s) read

Especially in the light that 22 apparent errors have been found in the judgement, some of which related to erroneous quoting of CMRS. What was not DMRC’s case before the Arbitration Tribunal has been used by the Curative Judgement to conclude that CMRS as certificate meant defects were cured or effective steps taken in the cure period.