Curious Case

Things don’t add up at Vakrangee: Share price, biz model, and even a Sebi probe

The Mumbai-headquartered IT company was in hot water with Sebi recently, but then it disappeared from the news cycle. Very few know about Vakrangee, and fewer still are willing to talk about it

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It is a hot, dry 23 March. Just before lunch.

“This has been a bank for the last eight years,” says Dileep Kumar Mehta, bank manager of Andhra Bank in Kota.

No kendra? “Never.”

Did they conduct camps? “No.”

Is the address correct? “Yes.”

Do you know about them? “Yes, I have heard about them. But they were never here.”

It is a surreal conversation. The address is right, to the T, from the annual report of Vakrangee, but the kendra doesn’t exist.

A few weeks back, The Ken took a short trip to Kota. The city in Rajasthan,…

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