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Sovereign Gold Bond Scheme || Subscription opens :18 th July 2016
Dear Concern, Sovereign Gold Bonds 2016-17 Series I Government of India has vide its Notification F.No. 4(7)-W&M/2016 dated July 14, 2016 announced that the Sovereign Gold Bonds 2016 Series I ("the Bonds") will be open for subscription from July 18, 2016 to July 22, 2016. The Government of India may, with prior notice, close the Scheme before the specified period. The terms and conditions of the issuance of the Bonds shall be as follows: 1. Eligibility for Investment: The Bonds under this Scheme may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. The bond may also be held by a Trust, Charitable Institution and University. "Person resident in India" is defined under section 2(v) read with section 2(u) of the Foreign Exchange Management Act, 1999 2. Form of Security The Bonds shall be issued in the
Lessons from the Satyam scam
Lessons from the Satyam scam
The signs of the Satyam scam should have come almost three weeks before when Ramalinga Raju proposed to buy a controlling stake in sister concern Maytas for around Rs 7,000 crore. When the institutional investors opposed vehemently, the company decided to go against it. Three weeks later on January 7, Raju confessed to 'cooking' Satyam's books.
Within the next few days, the share price crashed to almost Rs 10 causing losses of over Rs 5,000 crore to around 300,000 investors. In the past five years, a number of companies have been suspended or fallen into bad times with Pyramid Saimira, Deccan Chronicle and Kingfisher Airlines being some of the more prominent examples.
Usually, in such situations, individual investors get caught on the wrong side even if they have invested in such stocks through mutual funds. Sample this: When Satyam declared that they are withdrawing the proposal to buy the controlling stake in Maytas, many brokerage
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