Forensics and Corporate Governance Analyst, Beat the Street

Nimish Maheshwari

Forensics and Corporate Governance Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

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Forensic Accounting

Delta Corp Limited a diversified business group having a presence in the entertainment and gaming, real estate business in India and Kenya. The Company's business includes offshore casinos, and real estate consulting & development.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/delta-corp-ltd" target="_blank" data-smartkarma-citation="entities:4627:1" rel="noopener">Delta Corp Ltd (DELTA IN)</a> sells its Nepal casino business to Ability Games amidst allegations of connections to illegal betting and money laundering.</li>
<li>The ED's investigations into Mahadev Online Book reveal a Rs 3,916 crore scam, freezing of Rs 580.78 crore assets, and involvement of companies like Ability Games.</li>
<li>CEO of <a href="https://www.smartkarma.com/entities/delta-corp-ltd" target="_blank" data-smartkarma-citation="entities:4627:1" rel="noopener">Delta Corp Ltd (DELTA IN)</a>mentioned in ED statement that they have agreed for 10Crs over and above the transaction value.</li>
</ul>



Delta Corp Ltd (DELTA IN) sells its Nepal casino business to Ability Games amidst allegations of connections to illegal betting and money laundering.
The ED's investigations into Mahadev Online Book reveal a Rs 3,916 crore scam, freezing of Rs 580.78 crore assets, and involvement of companies like Ability Games.
CEO of Delta Corp Ltd (DELTA IN)mentioned in ED statement that they have agreed for 10Crs over and above the transaction value.


Delta Corp's Links to Mahadev App Scam Reveal Cash Exchange

Kotak Mahindra Bank / Forensic Accounting

Kotak Mahindra Bank Limited is a full service commercial bank. The Bank offers a wide range of products and services such as personal, commercial, and corporate banking services, including deposit accounts, loans, and investments. Kotak Mahindra Bank serves customers in India.

<ul>
<li>RBI has barred Kotak Bank from expanding its digital business and credit card issuance</li>
<li>Rather than earnings damage (max -10%) there is more reputational damage to the bank taking away premium valuations it used to command</li>
<li>The way ahead lies for the bank is the path of moderate growth </li>
</ul>


RBI has barred Kotak Bank from expanding its digital business and credit card issuance
Rather than earnings damage (max -10%) there is more reputational damage to the bank taking away premium valuations it used to command
The way ahead lies for the bank is the path of moderate growth 


Why RBI's Favourite Enemy Kotak Bank Is Barred from Digital Banking Business?

Gravita India Limited manufactures lead metal and other lead products by the recycling and smelting process. The Company produces lead ingots, lead alloys, and lead oxides.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gravita-india-ltd" target="_blank" data-smartkarma-citation="entities:17385:1" rel="noopener">Gravita India (GRAV IN)</a> faced a <strong>Qualified Audit Opinion</strong> over share sale proceeds' reporting by its Employee Welfare Trust.</li>
<li>The dispute centers on whether to record these proceeds in the P&amp;L or Balance Sheet, impacting transparency and financial metrics.</li>
<li>This dispute reduced the PBT by 7.54% and EPS  by 8.66% decrease in Q4 FY24.</li>
</ul>



Gravita India (GRAV IN) faced a Qualified Audit Opinion over share sale proceeds' reporting by its Employee Welfare Trust.
The dispute centers on whether to record these proceeds in the P&amp;L or Balance Sheet, impacting transparency and financial metrics.
This dispute reduced the PBT by 7.54% and EPS  by 8.66% decrease in Q4 FY24.


A Closer Look at Gravita India's Qualified Audit Opinion

Linde India Limited manufactures and distributes oxygen, hydrogen, nitrogen, argon and specialty gas mixtures. The Company also manufactures welding electrodes, rods, fluxes, gas and electric welding equipment, as well as air separation and gas plants, cryogenic equipment and liquid oxygen explosives.

<ul>
<li>Linde India entered into related party transaction without shareholders approval.</li>
<li>Further company also allocated future businesses and existing business of Linde India to its sister concern Praxair</li>
<li>Whether existing RPTs material in nature and need shareholder approval?  Whether the allocation of future and existing business from a listed entity to another promoter company amount to a RPT?</li>
</ul>


Linde India entered into related party transaction without shareholders approval.
Further company also allocated future businesses and existing business of Linde India to its sister concern Praxair
Whether existing RPTs material in nature and need shareholder approval?  Whether the allocation of future and existing business from a listed entity to another promoter company amount to a RPT?


Promoter Influence in RPTs: Linde India's Quest for Fair Business Allocations

Ganesh Benzoplast Ltd. manufactures specialty chemicals, preservatives, plasticizers, lubricants, and lubricant additives. The Company constructs liquid chemical storage tanks for rental by the petroleum, chemical, and oil industries.

<ul>
<li>GBL was touted as a turnaround story as few investors have shown faith by infusing the funds for further expansion</li>
<li>In a rare instance, one of the promoter member fraudlently took the loan of 45 crores in the name of the company</li>
<li>What lies ahead is the case possible fund diversion and promoter family feud</li>
</ul>


GBL was touted as a turnaround story as few investors have shown faith by infusing the funds for further expansion
In a rare instance, one of the promoter member fraudlently took the loan of 45 crores in the name of the company
What lies ahead is the case possible fund diversion and promoter family feud


Promoter Family Feud and Fund Diversion : A Rare Saga of Governance Issue at Ganesh Benzoplast

Nimish Maheshwari, an independent analyst and co-founder of Beat The Street, is an investing platform garnering more than 85,000+ followers across social media. 
His deep insights and forensic analysis have been featured in some of India's most prominent publications, including the Economic Times, The Morning Context, The Ken,  Dalal Street Investment Journal, Moneylife by Sucheta Dalal, and TheCore.in.
He has a keen eye for identifying red flags in Indian listed companies and has identified exclusive red flags earlier in Adani, Vedanta, Nykaa, Gland Pharma, Brightcom Group etc.

Nimish Maheshwari
Forensics and Corporate Governance Analyst
• Beat the Street

Delta Corp's Links to Mahadev App Scam Reveal Cash Exchange

Delta Corp CEO said, "It was agreed ₹10 crore will be paid in cash over and above ₹80 crore i.e. the enterprise value of Delta's Nepal Subsidiary.

Nimish Maheshwari

Why RBI's Favourite Enemy Kotak Bank Is Barred from Digital Banking Business?

In the latest development at Ganesh Benzoplast Ltd, Raunak Pilani, son of Ramakant Pilani, has resigned from his position as director. Ramakant...

Nimish Maheshwari

A Closer Look at Gravita India's Qualified Audit Opinion

A Qualified Opinion on Gravita India due to disagreement on representation of proceeds from the sale of shares by the Employee Trust as expenses in...

Nimish Maheshwari

Promoter Influence in RPTs: Linde India's Quest for Fair Business Allocations

Linde India's RPT and Future Business Allocations to Promoter Entity raises Governance Concern for its Shareholder's Future

Nimish Maheshwari

Promoter Family Feud and Fund Diversion : A Rare Saga of Governance Issue at Ganesh Benzoplast

The Possible case of Promoter Fund Diversion and Promoter Family Feud due to fraudulent transactions of 45 crores of loan. The impact of this is...

Nimish Maheshwari