New Delhi: A strange sequence of events at small-cap companies tourism Finance Corp. and Cupid Ltd, and the role of their biggest shareholder Aditya Halwasiya—whose elder brother’s business partner Hari Shankar Tibrewala is under scrutiny—have puzzled investors and analysts. The Enforcement Directorate suspects Tibrewala is a hawala operator who has manipulated share prices of some companies.
New Delhi: A strange sequence of events at small-cap companies tourism Finance Corp. and Cupid Ltd, and the role of their biggest shareholder Aditya Halwasiya—whose elder brother’s business partner Hari Shankar Tibrewala is under scrutiny—have puzzled investors and analysts. The Enforcement Directorate suspects Tibrewala is a hawala operator who has manipulated share prices of some companies.
On Saturday, contraceptives maker Cupid Ltd informed stock exchanges that it has withdrawn its plan to invest in tourism Finance Corp., a company…
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