Anugrah Stock and Broking – Subramoney

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It is not very clear about what has happened in Anugrah Stock and Broking – but from the looks of it, welcome to another Ponzi scheme.

Not naming the people – you will find their names in the links given below. I suggest that you read the SEBI order, and then tell me why would you deal with such a broker. The report is dated 2019, and this crisis happened in Aug 2020. No “investor” can claim that he did not get a chance to get out.

Let us get to what I think must have happened in this case.

An agent selling other financial products approaches you and says “you have a good portfolio, I have a broker who will write covered options and you can get 1% return per month on your INACTIVE portfolio”

“Looks good, you feel” Next question is “can I get the cheque in my mother’s name (Huf, aop, daughter, dog, someone paying lesser tax)?

“Of course” says the well qualified all-knowing agent.

Now the “investor” becomes all knowing, and all understanding. He happily gives out his Rs. 100L portfolio and Rs. 20L cheque to the broker.

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He gets his cheque every month regularly from 2016 to 2020 Jan. Every year at the end there is a small loss, which the broker pays out saying “he will earn it elsewhere”. Lol.

In the meanwhile the investor is not sure of what is happening so meets Subra and asks “why don’t you write covered calls” or “why do you not do FnO” and Subra says “I do not understand”. He chuckles saying “what an idiot..here I am making 1% pm for 4 years and this idiot who claims to have been in the market for 40 years does not understand “covered calls”.

Well, we all take different types of risk. It is fine to take risks at a younger age. My broker went belly up when I was 30 years of age, and wiped me out. Today’s equivalent of that loss should be in the region of Rs. 10 crores, but ha, like the English say “one day you can laugh it off”. Feels @####$%^ but do we have a choice.

I have almost eliminated bad people and bad management risk. I just do not do business with people I do not like. Ha, the thrill of financial freedom. I enjoy every assignment that I do – I have no financial risk or the risk of not liking the people with whom I am working.

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If you have to invest in equities, do invest. However, to think you are smart enough to do FnO or regular trading is amazing over-confidence. Be smart enough to realize that you can’t understand all these complicated things.

Earning money is not easy. Keeping the earned money is far tougher. Growing your money is really tough.

https://www.moneylife.in/article/over-rs1000-crore-at-risk-at-anugrah-stockbrokers-and-associates/61330.html

https://www.sebi.gov.in/enforcement/orders/mar-2019/adjudication-order-in-the-matter-of-anugrah-stock-and-broking-pvt-ltd-_42428.htm

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Subramoney
As a professional trainer, Subra trains a lot of people – corporate employees, promoters, non-finance managers, fund managers, entrepreneurs, life insurance agents, journalists, PR agencies, and anyone who wants to learn. His style is simple – He tells stories of real people, real experiences, and breaks down complicated topics into easy to understand lessons.
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