By the interim report from SEBI, Sami, Nirmal Kotecha and 200 persons including a journalist were banned sometime ago.

By the recent announcement by SEBI there is a ban imposed for 7 yrs. Obviously, Company does not deal directly but individuals, Obviously the ban is a reiteration of the earlier order and the stricture is harder on Sami & Co.

Promoter and Chairman-Narayanan & His wife have major share holding too and they have nothing to trade because all of them are pledged? It has been repeated here on this board too and therefore taken as truth more because nobody has refuted it?

Uma Saminathan the wife of Saminathan has been stated to have shred most of her shares and she seems to be holding very little and whether she has acquired more now is itself doubtful?

Other major investors are not in the fray and they have also withdrawn.

Rumour has it that a major stake holder from the industry acquired some 14% stakes and was even tipped to make a hostile bid for takeover, which was vehemently denied but their stakes are still there.

Indiabulls were having some tussle with Sami on the margin money and the cheque bouncing case of arrest and release is still green in our memory. So we presume that they are not buying anymore in this melee.

Hence, who is buying and how is the stock going up every day to touch UC?

Well LC can be explained to panic selling by small investors who got worried by the SEBI order. These people should have just waited and should not have rushed but anyway that is their decision and they suffer?

So who exactly are the players in today`s game? What is SEBI doing as a watchdog? Are they active or just issuing an order and leaving it there for nature to take its course? Especially in this age of poor enforcement in all spheres?

Why is the Government silent and waiting to act? Who is shielding the culprit? What is the nexus?

Any answer?

Very true and well stated. I was also wondering as to how this is happening especially in this counter and that too very often?

The LC was for 10% but the UC is only 5% so who`s really playing the mischief? Is it well organised, one gets to wonder? We need to watch out, if this happens with impunity and without any answer, then nobody except the authorities in power/ Government or the Judiciary can intervene? Why not PIL on this issue with strong backup on stats? Because going to court without preparation will be like the last time when Mr Mohan Lal an advocate rushed to the High Court in Delhi and was dismissed?

Fixer,,is their any mechanism thro which investors can complaint to vigilance deptt of SEBI. Almost all investors are puzzled. It is certain that the existing promoters have failed to put the company back on track, Sebi should have suspended the sale on day one after issuing ban orders. Even if they do it today and ask the govt to appoint director, as in the case of Satyam, share price of Pyramid Saimira will jump in three figures.

Any vigilance within the same Organisation will be prejudiced and you cannot expect a fair result. So you must approach an independent agency that can judge the veracity of the complaint and look into it. This is done by the Central Bureau of Investigation(CBI)in our Country. Unfortunately this institution have lost its credibility because it has become politicized. Otherwise, will Sami be bold enough to demand a SEBI probe into the alleged forgery with temerity? By doing so he was only threatening, intimidating the officials of SEBI and nothing more.

The only alternative available is to write to P Chidambaram- Home Minister to direct, instruct CBI? Well, is it worth doing with him because he can be parachial and he himself has dubious distinction in the stock market? Yet we can try!!

The next would be to meet up our local MP in small groups where ever we are and put pressure. This will definitely work because he/she doesn`t have anything to loose and he also needs some issues to be visible and make a point. We have already sensitized our local MP`s and Kirti Somaiah was a good bet, because he is good in such issues. Unfortunately he is now not an MP and he is having problem within his own party?!! We had good hopes on Mahesh Jetmalani and again he came a cropper. So we are doing our best from aamchi Maharastra? Will you also contribute from your own constituency?

I was always hopeful in this stock that the company will improve its performance with some revival plan but have lost patience after seeing the ground reality. I shall wait for some more time to see what they are doing in their restructuring and revival plan.
If nothing positive comes out I shall take up the matter with the Corporate Affairs Minister Mr. Salman Khursheed and also with Shri Ashwani Kumar,Director CBI.

Dear Friend, Any restructuring or correction should not wait and has to be done immediately. However, this is not the case here? Even after more than a year of such bad news, reports, stigma-There is no attempt at all to improve. It is going from bad to worse and situation is getting more murkier by the day. So how long are you going to wait.

What is restructuring all about even if it is to happen? Is Narayanan hitherto the Director and also the promoter taking over from Saminathan as Chairman and still Sami continuing as MD, any such indication of a maker over? Come on, gentleman, don`t get into this trap? Unless otherwise there is a strong semblance of professionals joining the Company with good experience, background or some reputed people in the other Industries posted here to head them, there is absolutely no respite.

Sami will never do this and it has to be done by the Government. So unless otherwise you put pressure on the Central Government to act, they will not do anything. Even now it is too late, because if the way things are and anytime allowed to `manage` or make book corrections, then even the new board will find it difficult to correct them.

In the case of Satyam the business was intact and they had very good orders, backups and could continue, Out here that is not the case. Everything is gloated and it is only a bubble. So if it bursts then we are all gone. Hence the earlier we wake up it is better. No point in hoping a correction within.

Awake, Arise, Stop not till the Goal is reached- Vivekananda. This should be our concern and single minded vision.

Do you think that inspite of all of us writing the Government will act? Pyramid Scam broke out simultaneously during Satyam with the alleged forged letter. Letters were written to the PM and Mr.Pranab Mukherjee specifically told the media that investigation will be ordered that too before the elections to the new Lok Sabha. Nothing happened. So should we not suspect a nexus somewhere between the promoters-Management of Pyramid and the Government? Do you not smell a rat? Somewhere, Saminathan has worked his way and got some support? Don`t you believe? Otherwise, SEBI will not release their findings in batches. Their final report is still pending and by which time they have already banned Pyramid for 7 yrs. So what more punishment are they contemplating. We are screaming here but there are no responses from powers that be?

sebi could have permitted the promoters to raise additional capital by way of promoters quota and could have restricted sale of equity by promoters. How else the promoters revive the company if the capital infusion is barred by the sebi.

By now, the whole world knows that the Pyramid Saimira story was a pump & dump operation. SEBI`s two banning orders suggest that they have unearthed enough evidence for this. When Kotecha exited, the project was over. By then, Swaminathan had started to believe his own propaganda that he is a great visionary. For us, it is better to forget about the money lost in this counter, and get on with life. Invest in companies that have real income, real assets an real profits. No point wasting time and money on this counter. People who took the risk to invest in risky companies can not expect government to protect them when things go wrong. When there was hefty profits, nobody complained to the govnt about pump & dump!

I was also of the same opinion but nevertheless we need to do something and should not get fooled. So I posted my letter and also mailed copies to all concerned. I was also not able to get the email id of Mr.Salman Kursheed-Minister of Corporate affairs, so much to the egovernance and facilities extended to these people. They do not want to be contacted that is what we can decipher. Anyway, I hope it is not a bad idea to irritate them with our mails and bombard them with our comments. Atleast some may get attention? Let us see!