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Sunday, June 21, 2009

Take care of your booty !!!

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Faujis are simpletons indeed.

Through this blog, I would like to share with readers the fact that unscrupulous elements and white-collared criminals have been constantly targetting serving and retired personnel who make good prey. Many of my well known officers are victims of this. The shine of quick money makes some of our serving and retired comrades put their hard earned money in the hands of criminals and thus start never ending visits to Courts and police stations. Of course I cannot impose my thought process on you, but being in the legal field this is just a little friendly advice for all. Stay away from the following :

(1) People or little known companies who promise to multiply your money in a particular period of time

(2) Builders who seek money to build flats and apartments in fancy places (unless the company is well reputed) and offer rental income on the same

(3) Multi-level marketing

Let us remember that there is no way of earning capital but the hard (legal) way. Even if one wants to be adventurous, there are ample opportunities available in the form of mutual funds, govt schemes and the like. If one wants to go in for flats, plots or apartments, then one must only look at properly recognised urban estates approved by the concerned town and country planning / urban planning department.

Don’t get into hassles for the lure of a few greenbacks. Fauj gives you a lot now coupled with a good pension. Live a good, protected, dignified and satisfied life and avoid actions that may lead you to doctors and lawyers :-)



Dear Navdeep
I appreciate your sincerety and frank and bold councilling. I wish that same type of feelings is generated amongst other Defence Fraternity. After 6th Pay Commissionand rivalry amongst IESM, IESL and other splinter welfare organisations has brought out so many lessons worth pondering over by right from the Rank of a General down to a Sepoy.
We should mature up and at no time loose the very essence of Military Ethos and traditions. We should stop bickering and should project our needs in a more sophisticated manner more so collectively than individually.We need more friends like you God bless you and keep going. I would like to meet you and thank you personally for all that you are doing for Def Pers.
Best wishes and regards
Col Dham

Unknown said...

dear sir,
there are a few companies in delhi ,pune,mumbai like the citylimouzine,maaambey ,insightcabs
,fortunecabs,reliance cabs who are promising heady returns and pushing their agents to get business from the offrs and PBOR alike.a recent article in economic times had commented that these companies are mushrooming due to lack of or confusion of jurisdiction i.e which regulator should hold these firms responsible.as of date these are non accountable and very very risky

sudhanshu said...

totallly agree...follow waren buffet if u want to make money in the rt way

Anonymous said...

mrp said....
Dear Maj Navdeep,
Thanks for your valuable and good advice.

Anonymous said...

In deed a very good advice from a comerade who is well versed with legalities.From a personal experience of having done such a mistake ten years back in which I fortunately got away with a loss of Rs 25 thousands only,I second every word that has been said.

Since my solo bad experience I have never invested with such little or unknown companies or individuals.Lot of info is available on the net for wise and safe investment in MFs,Govt securities and also shares.Wise long term(more than 2 years) investments here are all most sure to give good dividends besides peace of mind and tax benefits and without chances of lossing friends while investing with nonbanking financial institutions.

Col P B

Anonymous said...

Dear Navdeep,

Thanks a lot for wonderful your update.

Keep up the good work.

Best Wishes


Anonymous said...

A timely advise by Navdeep.
A pertinent episode, a very senior retired Air Force officer, once an ADC to the Supreme Commander had to undergo incarciration as he was induced to become a Director in one of these shady financial companies
that cheated the investors.

It is now history.

Navdeep should be complimented for this advice.

Anonymous said...

Dear Navdeep,
I could not agree more on every word you have brought out. I have forwarded your advice as an investment in life to my son. It should fetch him excellent interest.

Col.Dham, Thank you.Your words have come as a balm to a number of us.
We are one big family of gentlemen. Why wash dirty linen in public? One who shouts the loudest is not always right.Yes sir, an officer is a gentleman.Your views need to be conveyed to the rank and file.
With best wishes to both of you

Kaps said...

A timely advice indeed. To add, with the lure of lucre of LTC, unscrupulous agents are offering fully customised visits to NE where you do not spend a penny from your pocket and the touts claim that even the hurdle of CDA will be overcome. This is downright fraud and is illegal. Please beware of some HOLIDAY (even some reputed ones) who promise you a set number of days in their holiday resorts all over India for years to come. I know a few colleagues who have been duped. So please do take care to not end up with a heart burn on seeing your hard earned money in hands of frauds.

dyonisus said...

Dear sir,
Thanks for the wonderful piece of advice.i find lot of service personal investing money in shares also. As far as i understand, service personal(any govt servants) are not permitted to invest in shares and mutual funds.
since investing in shares implies becoming a share holder(parter in layman terms) of a particular company for which he receives a divident. this technically becomes a second employment/second source of income which is not permitted for govt servants.
i found lot or service personal are not aware of this

Anonymous said...

Sir i wish there was some one like you to advice when i was making an investment with Narne Estates in Hyderabad. It has been a most painful association with the company. There is no end to the companies greed and demand for additional money. Hopefully service personnel will be careful in investing there hard earned money, even if the enterprise is run by retired personnel.

Anonymous said...

Dear Pradosh,

I don't think what you suggest is true. In fact it can be misleading.

Investing in Mutual Funds and the stock market can in no way be construed as "second employment".

Pursuing this logic further, even bank accounts and FDs could be termed illegal as the interest accruing can be deemed a "second source of income".

The only caution I feel necessary is not to get carried away with tall claims of those so called "stock market wizards" who made lacs working the stock markets (you find an odd one in every unit/HQ). Control your greed and invest only a fraction of your savings into stocks, that too if you understand them well. Avoid day trading and futures/options entirely.

Gourav Ray said...

Dear Navdeep,
I need your help urgently.
Can u SMS me your number at 09878997292?
Best Regards,

Ramani said...

Dear Navdeep,
For a lawyer, you have used the wrong terminology.
Booty is geneally supposed to mean "ill gotten gains".wheres what you are trying to convey is "our hard earned money".

Anonymous said...

Pradosh @

Hey do you belong to the 60's batch or the 70's batch of officers. Its time to wake up to reality. Reality of 21st century. Receiving divident does not become a second income. If you have fixed deposit that gives you a monthly return even that can ascribed as a second income based on your logic. pl dont misguide and make service officers panic and start selling their holdings. Every second officer in Delhi, Bombay, Madras, bangalore and otehr cities well connected to stock exchanges is dealing in stocks. There are large number retired officers in teh stock exchange as brokers or assisstants and also working for the stock exchanges.

Anonymous said...

Yes we remember the officers of 60's and 70's used to talk BIG and openly chastned any officer who drank RUM in the officers mess. Officers only drink whisky. Rum is for Jawans. They carried many misconceived notions of what an officer should be and should not be which was all their own making. At the end of the month they could hardly pay up their mess bills leave alone otehr bills cariied forward month to month. The youngsters of today are much smarter and wordly. So pl dont misguide tehm