Debashis Basu Wiki, Age, Wife, Family, Biography & More – WikiBio
Debashis Basu is a renowned business journalist, author and chartered accountant in India. He came into the limelight in 1992 after he helped his wife, Sumeta Dalal, another prominent journalist, expose the Harshad Mehta scam. He then co-authored with Sucheta the best-selling book The Scam: From Harshad Mehta to Ketan Parekh.
Wiki/Biography
Debashis Basu was born in Kolkata. He completed his studies at Dumdum Airport High School in Kolkata before pursuing a Bachelor of Commerce degree at Goenka Institute of Commerce and Business Administration, Kolkata. Debashis became a Chartered Accountant in 1982.
appearance
hair color: salt and pepper
eye color: Black
family and caste
Debasis is married to Sucheta Dalal, a prominent Indian journalist who exposed the 1992 securities scam. Sucheta is the executive editor of Moneylife Magazine and a trustee of the Moneylife Foundation. Not much information is available about his parents and siblings.
Profession
as a journalist
After completing Chartered Accountancy, Debashis began working as a business journalist. Between 1984-1994 he worked with popular business newspapers such as Business India, Business World, Financial Express, Times of India and Business Today. He then worked as a columnist for The Economic Times. Starting in 2021, Mr. Basu has been writing a column for Business Standard every other Monday.
as a writer
On April 23, 1992, Sucheta Dalal broke the first story of inconsistencies in SBI accounts, which led to a series of CBI investigations that uncovered India’s biggest financial scam. The disaster inspired the couple (De Basis and Sucheta) to write a book in 1993 titled “The Scam: Who Wins, Who Loses, Who Walks”. The material for this book comes from hoax interviews with various actors (mostly Harshad Mehta), as well as anonymous sources called “Deep Throat” in the book.
The book was a bestseller when it first came out. It was reprinted in 2001 with extensive revisions and an added chronicle of the 2001 Ketan Parekh hoax. The book has been renamed “The Scam: From Harshad Mehta to Ketan Parekh”.
Debashis has authored several other business books, including Face Value: The Creation and Destruction of Shareholder Value in India, The Alchemy of Growth: Why Small Companies Can’t Find Financing, Trailblazers 1 and 2, and The Truth About Equities Series , mutual funds and investments.
money life group
The journalist founded the financial magazine Moneylife in 2006. Debashis is the editor and publisher of the magazine. According to him, the purpose of the magazine is to provide an unbiased and well-researched analysis of the stock market. As of 2020, it has become an online weekly with in-depth articles on gold, mutual funds, fixed income, equities, insurance, consumer rights, and smart lending and spending.
Mr. Basu founded the Moneylife Foundation, a non-profit organization, in 2010 to spread financial awareness and advocate for safe and fair market practices. As of 2020, the organization has held a record 385 seminars and conferences to educate youth about the stock market and other financial institutions.
Awards
Winner (2015): Shriram Sanlam received the Excellence in Financial Journalism Award for his weekly column in The Business Standard.
dispute
In July 2015, Moneylife magazine launched an investigation into NSE’s trading systems after a whistleblower claimed the exchange rarely allowed its brokers and traders access to facilities set up for high-frequency trading. This access will give traders and brokers an instant advantage in accessing NSE data compared to regular traders or brokers. In response, the National Stock Exchange filed a defamation lawsuit against Debashis Basu and Sucheta Dalal’s Moneylife magazine. NSE asks for Rs. Rs 100 crore was used to settle the case, but later, the Bombay High Court asked NSE to pay Rs. 150,000 each from the founders and donated Rs. $4.7 million to charitable trusts. The NSE withdrew its defamation case in 2017.
NSE withdraws Rs 100 crore defamation case and appeal. Left with cost and J Patel’s order intact.million thanks to million well-wishers pic.twitter.com/BAwbXcE4Lw
— Suchetadalal (@suchetadalal) September 12, 2017
Facts/trivia
- Debashis spends his free time reading and collecting business books.
- Mr. Basu is a member of the SEBI Mutual Fund Advisory Committee. He has also served on SEBI’s Task Force responsible for creating the IndoNext segment for small companies.
- Hansal Mehta’s 2020 directed Hindi web series Scam 1992: The Harshad Mehta Story is based on Debashis’ book The Scam: Who Won, Who Lost, Who Got Away. There is a character based on him in the series, played by actor Faisal Rashid.
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