How panic sale by Bajaj Finance singed an INR40 crore hole in Seetha Kumari’s portfolio

How panic sale by Bajaj Finance singed an INR40 crore hole in Seetha Kumari’s portfolio
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Synopsis

As stocks went on a freefall in the initial days of Covid-19 lockdown, the NBFC sold key holdings of the ace investor. While she alleges breach of rules and ulterior motives by senior Bajaj executives, the company says it followed all rules. The matter is now before a court-appointed arbitrator where she is claiming compensation running into crores.

Once upon a time in the stock market, there was a terrible crash. Relationships got ruptured, portfolios got butchered, brokers rushed to limit the losses and investors were left carrying the can. This is a story about one such investor and one such relationship that has turned into a bitter dispute. This happened during the painful collapse in stock prices at the beginning of global pandemic in early 2020. Three years on, when the stock market
( Originally published on Mar 30, 2023 )

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