Don’t invest in ponzi schemes, says CA Jotwani

Source: The Hitavada      Date: 29 Sep 2017 09:43:40


Business Bureau,

Nagpur Branch of WIRC of ICAI under the aegis of Investor Education & Protection fund (IEPF) of Ministry of Corporate Affairs launched a novel theme for investors awareness titled as ‘Nivesh Pathshala.’ The first programme in this series was held recently Naivedhyam Celebration wherein two most coveted speakers Anuj Badjate & CA Amit Dani guided more than 250 people about various pros and cons pertaining to investing in financial markets. The programme was jointly hosted by Rotary Club Ishanya and Indian Medical Association (IMA), Nagpur.

CA Sandeep Jotwani, Chairman of Nagpur Branch of WIRC of ICAI welcomed the guest speakers and other dignitaries. He spoke about significance of awareness before investing in financial instruments. He said that investors should avoid investing in ponzi schemes and always take proper advice while opting for right investment avenue. CA Pramod Jawandhiya, President Rotary Club Ishanya and Dr Sanjay Deotale, Vice-President of IMA, Nagpur also requested their members to take optimum benefit of the programme.

CA Abhijit Kelkar, Regional Council Member said, investing is the habit amongst Indians but how to do it effectively is always a big challenge. Taking the advantage, many people try to misguide the common people, hence such kind of programmes are organised to help and guide the investors and to educate them about the precautions to be taken before investing.

Anuj Badjate spoke about his perception of savings and investments and guided investors as to how power of compounding can create wealth for investors if they choose to own a company via equity investing. He said, wealth creation is possible mostly in equities and in all market scenarios there is some or other stock which has potential to grow many folds. For an investor to create wealth, he needs to do research and commit their investment for a longer period and ignore the short-term volatility.

CA Amit Dani elaborated on significance of asset allocation and systematic investing. He said, investor should prudentially invest for long-term through mutual funds. He said, “Mutual funds are one solution for all asset classes, be it equities, debt, real estate and gold and hence one can do asset allocation in all the available investment avenues through mutual funds.

Present were CA Suren Duragkar, Secretary, CA Saket Bagdia, Chairman of WICASA, CA Jiten Saglani, co-ordinator, Dr Prashant Rathi Secretary of IMA, Piyush Fattepuriya, Secretary of Rotary Club Ishanya and Pritesh Chandak, Vocational Chair of Rotary Club Ishanya.