Dalwa --- Dover --- Money Matters --- Capri global
It had offices, on the fourth floor of merchant chambers in Mumbai, connecting several big corporate houses and their lenders. Money Matters was not be a big name in equity issuances, but the Rs 32,000 crore debt that it had facilitated to various companies had given it a big name in the credit syndication and debt capital market advisory space.
t has over 100 marque clients, including the Adani Group, Tata Group, Reliance ADAG Group, Jindal, Jaypee Group, HCC, India Bulls, Suzlon and DB Realty.
Incorporated in 1994 as Daiwa Securities, a non-deposit taking NBFC, it changed its name to Dover Securities in 1999 and was bought by Rajesh Sharma in 2007-08 - a chartered account with experience in corporate finance, investment banking and merchant banking. In 2009, Sharma expanded into advisory-related services in debt syndication and debt placement. Thus, boosting revenues to Rs 227 crore in FY10. The company's stock also zoomed - from Rs 181 in January this year, to Rs 675 in October, just before it raised Rs 445 crore through the QIP route.
India Infoline, which managed the QIP solo, says it had no idea what dealings money matters undertook. We are quite surprised and shocked by the findings of yesterday. The matter has come up last evening, so till now we haven't been able to communicate with investors; but we shall do that. The QIP was subscribed to by Fidelity, Morgan Stanley Mauritius, Sundaram Mf, Wellington Management and Ivy Pacific Opportunities Fund.
CBI alleged that the officers of various public sector banks and financial institutions received bribes from the private financial services company Money Matters, which acted as a mediator for corporate loans and other facilities from financial institutions. The bank officials sanctioned large-scale corporate loans to realty developers, overriding mandatory conditions for such approvals along with other irregularities.
t has over 100 marque clients, including the Adani Group, Tata Group, Reliance ADAG Group, Jindal, Jaypee Group, HCC, India Bulls, Suzlon and DB Realty.
Incorporated in 1994 as Daiwa Securities, a non-deposit taking NBFC, it changed its name to Dover Securities in 1999 and was bought by Rajesh Sharma in 2007-08 - a chartered account with experience in corporate finance, investment banking and merchant banking. In 2009, Sharma expanded into advisory-related services in debt syndication and debt placement. Thus, boosting revenues to Rs 227 crore in FY10. The company's stock also zoomed - from Rs 181 in January this year, to Rs 675 in October, just before it raised Rs 445 crore through the QIP route.
India Infoline, which managed the QIP solo, says it had no idea what dealings money matters undertook. We are quite surprised and shocked by the findings of yesterday. The matter has come up last evening, so till now we haven't been able to communicate with investors; but we shall do that. The QIP was subscribed to by Fidelity, Morgan Stanley Mauritius, Sundaram Mf, Wellington Management and Ivy Pacific Opportunities Fund.
CBI alleged that the officers of various public sector banks and financial institutions received bribes from the private financial services company Money Matters, which acted as a mediator for corporate loans and other facilities from financial institutions. The bank officials sanctioned large-scale corporate loans to realty developers, overriding mandatory conditions for such approvals along with other irregularities.
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