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Indian Markets Gave Better Returns Than China In Last 5 Years, Says Sebi Member

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Sebi Whole-time Member Ananth Narayan G on Monday reminded investors that Indian equities have consistently delivered 15 per cent returns over the last 5 years whereas the same has been zero or even negative in China.

Terming the Indian markets “sone pe suhaga” for delivering higher returns for lower risks, Narayan also flagged a few areas of caution for investors and asked them to be conscious of the risks.

“There’s a lot of talk about China markets over the last few days. But over the last five years, while Indian markets have given around 15 per cent compound annual growth rate consistently, Chinese markets are nowhere close to that. It’s almost zero. In fact, in some cases, like in Hong Kong, it’s actually negative,” Narayan said.

Speaking at an event marking the start of the Investor Awareness Week at NSE, Narayan said FY24 was a “remarkable” year for India, with the benchmark indices returning 28 per cent and the volatility just 10 per cent.

“That’s like ‘sone pe suhaga’. It’s like the best of all worlds: low risk and very high return,” Narayan said, underlining that there are side effects of this as well.

Making it clear that it will not be the same going forward and investors should not assume it to be a one-way street, Narayan said such handsome returns can lead to complacency and pointed to a lot of youngsters opening up demat accounts to join the bandwagon.

Educating people about risks is very important, Narayan said, giving the analogy of driving a car. “There has to be a light push on the accelerator to get more investors to provide risk capital for the economic growth, we also need to be aware of risks and use the brakes if need be.” He said that 40 per cent of the small and midcap scrips have shot up by 5 times in the last five years, because of an imbalance between inflow of investor money and supply of new paper.

On its part, the capital markets regulator is trying hard to ensure that fund-raising clearances are done early so that there is a steady stream of quality paper supply in the market.

From a broader, longer-term perspective, Indian markets will only go north from here given the economic growth prospects in the country, Narayan said, issuing specific advice to investors.

Investors need to have the right intermediaries to capitalise on this opportunity presented by India, and not fall for the unregistered and fly-by-night ‘finfluencers’ who might be driven by vested interests, he said.

Using the oft-repeated idiom of “all roads lead to Rome”, Narayan remarked that Rome is not a traveller-friendly place and one may get scammed there as well. Therefore, it is important to seek advice from the right people for the investors, he said.

He also said that it is in investors’ interests to trade less and stay invested for longer for higher returns, and added that studies prove the same.

Sebi, which has flagged certain areas like derivatives recently, is not against speculation or participants taking short-term trades, but it would want investors to understand the risks, Narayan said.

Business

Centre sends notice to Ola, Uber over different pricing for iPhone, Android commuters

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New Delhi, Jan 23: Leading taxi aggregators Ola and Uber have been served notices by the Department of Consumer Affairs over differential pricing for the Android and iPhone commuters, seeking responses from the online cab-hailing platforms, Union Minister of Consumer Affairs, Pralhad Joshi, said on Thursday.

Minister Joshi said in a post on X social media platform that the Department, through the Central Consumer Protection Authority (CCPA) has issued notices to these cab aggregators.

“As a follow-up to the earlier observation of apparent differential pricing based on different models of mobiles – iPhone/Android – being used, Department of Consumer Affairs, through the CCPA, has issued notices to major cab aggregators Ola and Uber, seeking their responses,” the minister noted.

Uber and Ola have been directed to respond to the notices issued by the Department. In another post, the minister said that after receiving complaints on the National Consumer Helpline (NCH) regarding performance issues in iPhones following the iOS 18+ software update, “the Department, after examining these grievances, has issued a notice to Apple through the CCPA, seeking a response on the matter”.

Last month, Minister Joshi requested the CCPA to carry out a comprehensive inquiry and had warned the affected companies that there would be “zero tolerance for consumer exploitation.” If differential pricing was used, he claimed it was a “blatant disregard” for the rights of customers.

“This, prima facie, looks like unfair trade practice where the cab-aggregators are alleged to be using differential pricing based on the factors mentioned in the article below. If so, this is blatant disregard for consumers’ rights to know,” he posted on X.

The Union Minister also ordered investigations into other industries, like online ticketing apps and food delivery, to determine whether any comparable problems were reported.

Social media was abuzz last month over cab aggregators charging different prices for users, with the prices being higher for people using iPhones to book their services.

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Jharkhand to honour Ratan Tata’s legacy with Republic Day tableau

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New Delhi, Jan 23: Jharkhand is set to pay tribute to the late iconic industrialist Ratan Tata through its tableau for the Republic Day celebrations, showcasing his enduring contribution to the state and the nation.

The highlight will be Jamshedpur, the city the business leader helped build, famously known as the first ‘steel city’ of India.

Jamshedpur, located in southeastern Jharkhand at the confluence of the Subarnarekha and Kharkai rivers, stands as a symbol of India’s industrial prowess.

Named after Jamsetji Tata, who established a steel plant there in 1911, Jamshedpur has grown to become the state’s largest urban hub and an important industrial and transportation centre.

This year’s tableau, praised for its creative design, emphasises Ratan Tata’s significant role in Jharkhand’s development as it was his visionary initiatives in the 1960s that laid the foundation for the state’s formal establishment in 2000.

The display will present a panoramic view of the industrial units of Jamshedpur, also known as Tata Nagar, and will highlight Jharkhand’s progress while celebrating its cultural richness.

Alongside industrial achievements, the tableau will showcase Jharkhand’s traditional dance forms, handicrafts, and art. Sohrai and Khobar paintings, created by tribal artists, will take centre stage.

Shalini Verma, Deputy Director of the Information & Public Relations Department of Jharkhand, told Media, “This time we have decided to honour Ratan Tata, as he started the industrialisation in Jamshedpur. Along with this, we have shown women empowerment by showcasing how they generate employment by working.”

“We have also focussed on education. Because industrialisation and education, both reflect Viksit Bharat and Viksit Jharkhand,” she added.

These murals, deeply rooted in the state’s tribal heritage, celebrate themes of harvest, fertility, and spirituality, underscoring Jharkhand’s strong connection to nature.

The middle section of the tableau will feature rural women engaged in crafting traditional handicrafts, symbolising the integration of heritage and development.

This element reflects how Jharkhand’s traditions and resources are contributing to the nation’s progress, embodying the theme of “Virasat and Vikas.”

Adding to the tableau’s vibrancy, the UNESCO-recognised Chhau Dance of Saraikela will be performed as part of the ground element. This traditional dance, rooted in mythological themes, will showcase the dynamic cultural heritage of the state.

Having previously highlighted themes like ‘tassar silk’ and the Baba Baidyanath Temple, Jharkhand’s participation in this year’s celebrations will stand out as one of 15 states and Union Territories presenting tableaus in the national Capital.

The tableau is expected to reflect Jharkhand’s unique blend of tradition and progress, making it a captivating centrepiece of the Republic Day celebrations.

It is a fitting tribute to Ratan Tata and the late industrialist-cum-philanthropist’s transformative vision that helped shape the state’s identity and future.

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Torres Jewellery Ponzi Scam: Bombay HC Orders Transfer Of All FIRs To EOW, Directs Formation Of SIT

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Mumbai: The Bombay High Court on Wednesday directed the transfer of all FIRs related to the Rs 1,000 crore Torres scam to the Economic Offences Wing (EOW) of the Mumbai Police. Four FIRs have been registered across Mumbai and MMR, alleging that the jewellery chain defrauded over 1.25 lakh investors.

A bench of Justices Revati Mohite-Dere and Neela Gokhale instructed EOW Deputy Commissioner of Police Sangramsinh Nishandar, who attended the hearing virtually, to constitute a Special Investigation Team (SIT) for the probe. The SIT will include officers from police stations where the FIRs were originally lodged.

Apart from EOW Mumbai, FIRs were registered by the Thane, Navghar, Mira Bhayandar, and Navi Mumbai police. The Navi Mumbai FIR was earlier transferred to its local EOW branch.

The court was hearing a petition filed by Mumbai-based chartered accountant Abhishek Gupta, 31, who claims to have exposed the scam. Gupta sought police protection, citing threats to his life. The court directed Mumbai Police Commissioner Vivek Phansalkar to provide protection to Gupta until the next hearing, scheduled after eight weeks.

During the hearing, the court criticized the police for their delayed action despite being alerted to irregularities in June 2024. The bench observed, “The police need to be alive to what is happening and act promptly to ensure the common man does not lose their hard-earned money.”

The scam involved cheating investors through a combination of Ponzi and multi-level marketing (MLM) schemes. The EOW has so far arrested three individuals, including two foreign nationals. Public Prosecutor Hiten Venegaonkar informed the court that of the 12 accused, eight — seven Ukrainians and one Indian — fled the country before December 30, 2024. He assured the court that their locations are now known and action will be taken.

Venegaonkar also revealed that the Navi Mumbai EOW had been secretly investigating the case since October 2024, after realizing the scale of the fraud. “They quietly collected information and summoned individuals linked to Torres’ showrooms. The hue and cry started after the payments stopped in the last week of December. That’s when the Ukranians fled the country,” he said.

The court, however, emphasised the lack of urgency shown by the police. “Somewhere there has been dereliction of duty. Nobody has acted with alacrity,” the bench remarked. It also urged the police to develop mechanisms to prevent similar scams in the future, stating, “Now you know their modus operandi. Police need to be alive to what is happening and take prompt action so that people do not lose their money. Or there can be some mechanism in the future,” it added.

Responding to a court query, Nishandar requested eight weeks to show progress in the case.

Gupta, who audited the accounts of Platinum Hern Pvt Ltd, Torres’ parent company, claimed to be a vulnerable witness at risk of being targeted by the scam’s perpetrators. He alleged that the company’s directors—Sarvesh Surve and Taufiq Riaz (alias John Carter)—and an employee, Laxmi Yadav, had warned the police about the scam as early as June 2024. However, the authorities only took cognizance on January 2, 2025.

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