Dalal Sucheta, Started her career with the Taj President Hotel as a Guest Relations Co-Ordinator. From there Dalal's, the then owners of Fortune India Magazine gave her a break in Financial Journalism, though she did B.Sc (Statistics) from Karnatak University. She hails from Belgaum.
In early 90's when liberalization opened up and stock markets were booming she came out with a story in 1992 on Harshad Mehta, her story coupled with similar other stories made BSE Sensex tumble from 4500 to almost 2000 levels eroding the value of investors in those days to the tune of almost Rs.1,00,000 crores. Several Banks went Bust, From 1993 on wards till 1998 the liberalization efforts got de-railed. Indian Industry lost its competitive edge. Investments to India got stalled. Indian Economy lost more than Rs.4,00,000 crores. All these losses can be attributed to her irresponsible scam calling.
The Scam Calling by Sucheta though made big ruckus and made India loose economically and made Several Stock Market Investors Paupers (though she calls them as greedy investors), the great economic loss which could have been averted could not be done so due to her irresponsible scam calling.
In turn as a result of her scam calling, Where the money has gone? It went into drain as Markets had seen a free fall stock prices eroded and investors money also got eroded. Such was her irresponsible exposes.
Take a look at the below given slide:-
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Alleged Scamster Harshad Mehta though showed willingness to pay-off his dues, But due to the magnified nature of scam several regulatory litigations which got protracted never found any conclusion due to lack of evidence. Some people died with heart-attacks due to social phobia of Sucheta's Scam Calling. Harshad also died after making several come back trails. Umpteen number of retail investors got wounded with Financial Losses. Some Investors Suicided unable to bear the losses.
Ultimately even Sucheta Dalal made an exit in 97-98 from Bennet & Colemn Group, as the Group by that time understood the collateral damage that her Scam Calling Stories have done to the whole economy and when her sequels on the same theory based around "Scam Calling" proved to be a drag on the economy of India.
Losses and Impact of her Scam Calling:-
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What we are saying here is that, she should have acted responsibly by knowing the collateral damages, such stories can cause and should have alerted the Government and Other Regualatory Authorities by showing credible evidence.
When we look back and see holistically
and
When we question?
Could she make good the losses that her scam calling did to the Indian Nation as a whole?
Could she provide any credible evidence for those alleged scamsters to be punished post expose?
Didn't she make investors loose Rs. 1,00,000 crores for none of their mistakes?
Wasn't there something called Social Responsibility, Responsible Journalism Vs Reckless and Careless Scam Calling?
But Sucheta Dalal made her way from Rags to Riches.
Today her empire of Moneylife and associated companies runs from almost 4 locations, all located in the up-scale Nepean Sea Road, Prabhadevi, Mahim and Dadar (West).
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Incidentally Moneylife's one of the offices has the same address that of Mata Securities India Pvt.Ltd, A stock broking firm regsitered with SEBI, BSE and NSE.
For any ordinary journalist, it is a dream to be a part of up-scale location in Mumbai City if we go by their known sources of income.
Where as Sucheta Dalal, by preaching gospels in the name of Scam Calling leapfroged from Rags to Riches and the way she is managing almost 4 locations in the up-scale locations of Mumbai makes her as One of the Richest to Reckon.
Lot many people died, many suicided, banks suffered losses, Nation as a whole lost,
But Sucheta gained !!!
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