How shares in listed firms are used to convert black money into white
This is known that unlisted companies are used to make black money white. But listed firms too are used for exactly this purpose.In April last year the shares of a company called Global Securities, listed on the Bombay Stock Exchange (BSE), were trading in a band of Rs 15-25 a share. Daily volumes during the month varied wildly — from a few hundred shares, to a few lakh. The company's net profit in 2012-13 was to the tune of around Rs 3.9 lakh. Between April 2012 and March 2013, the price of Read more [...]