Word: kanta
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Dates: during 2001-2001
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...There is not a broker in Calcutta who will deny what was going on. Indeed, most passionately defend it. Changoiwala's brother, Kanta Prasad, gushes that the relationships forged by families who traded with one another in the gray market gave "touch and feeling" to Calcutta's bourse that was "absolutely unique." Mention unofficial finance to Mahajan, the former exchange vice president, and he gets so excited that his arms flail like the rotors of a distressed helicopter. "Nobody ever failed to pay up," he coos. "It served Calcutta for 100 years. It was a beautiful system. It was something...
...people in Calcutta believe the heyday of the bourse, or its roguish charm, can be restored. The city's private financiers were burned by the crash and are less willing to take risks, even for a friend. "All the trust has been lost," laments Kanta Prasad Changoiwala. Volumes on the bourse are expected to take another hit after July 2, when SEBI plans to introduce new rules?including regulated futures and options trading?aimed at controlling market hijinks. Some brokers think the Calcutta Stock Exchange may cease to exist altogether in a few months. For Changoiwala it would...
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