Rare Indian Shares ( by Ashwani K Aggarwal )

14 Years Old With 15000 Posts in Archives THE ONLY Authentic RARE INDIAN SHARES Web Site Buy Sell Contact Delisted Unlisted , Unquoted , ,Untraded Shares Stocks Suspended Regional Stock Exchanges , Delisting , Closed . Vanished ,Disappeared ,Tremendous Hidden value , ESOP, Illiquid , Pre IPO ,.Rarely Traded , Antique collectors off beat Current Rates , Best Prices , Bids ,Offers, Brokers , Dealers ,Buy , Sell Physical , Problematic Transfer Transmission

May 31, 2013

Lotte India Corporation Ltd - Annual Report ( Ending 31-12-12 )

Lotte India is delisted ( Promoter Holding 98 : 37 % )

Financials - 01-01-12 to 31- 12-12

Sales- Rs. 319 Crore

Gross Profit : Rs. 23 cr 89 lakh

After depreciation, Interest : Rs. 8 cr 37 lakh

Net Profit : Rs. 6 cr 66 lakh

EPS : Rs. 6 : 97 paise

Dividend : Nil

As on 31-12-1012

Share Capital : Rs. 9 cr 56 lakh

Reserves : Rs. 442 cr 38 lakh

Face Value Per Share :Rs.10

AGM : 14 - 06 - 2013 at Chennai

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For Lotte India , please click :-

http://www.rareindianshares.info/search?q=lotte+limited

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General Warning : Investment in Shares Can be Injurious to Your WEALTH

Disclosure : The Blog writer in his / family names has holdings in this Company. So please make suitable " provisions " for any likely Over Optimism

NB :All information given in good faith. Please recheck every point before taking any investment decision. No responsibility with this Blog or Blog Writer

Bhavikk Shah on Ex Bonus Rates of Limited Bonus Issues ( For Non Promoters / Public Only )

For NBI Industrial Finance , pl click :-

http://www.rareindianshares.info/search?q=new+bank+of+india

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Old / Original POST by Bhavikk Shah

Bonus Shares For Non Promoters Only - What Would Be Ex - Bonus Price ?

In case of normal Bonus Issues , the Ex Bonus Rate falls Proportionately

Example : Balmer Lawrie and Company

Pre Bonus Rate Rs. 700

Bonus in the Ratio of 3 : 4

4 shares become 7

Ex Bonus Rate 4 x 700 = 2800 , divided by 7 = Rs. 400

But , these days a new development has taken place . Some Companies , to comply with Minimum 25% Public Holding Directive of SEBI ,are issuing Bonus shares only to their Non Promoters

Example

UP Hotels

Bonus Ratio : 31 Bonus Shares For 20 Held

http://www.rareindianshares.info/2013/05/up-hotels-bonus-issue-non-promoters.html

Here , around 12 % shares are held by the Non Promoters

http://www.rareindianshares.info/2009/09/u-p-hotels-limited.html

or

Ras Resorts

Bonus Ratio

1 : 5 ( Please Recheck )

http://www.moneycontrol.com/india/stockpricequote/hotels/rasresortsaparthotels/RRA

Q -WHAT WOULD BE THE EX BONUS RATES IN SUCH LIKE CASES OF LIMITED BONUS ISSUES ??

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Answer By Bhavikk Shah

As for the bonus to non-promoters are concern- the equation remains the same that is -

At present UP HOTELS CMP is Rs. 353.90 per share . It declared bonus of 31 new for every 20 held - so after bonus the price FOR INDIVIDUAL INVESTOR should be Rs.138.78/share.
(CMP Rs.353.90 x 20 all ready held = Rs.7078; Bonus of 31 new so your total investment of Rs. 7078 remains the same but the total number of shares increase to 51 shares , so Rs. 7078/51 = Rs.138.78/sh)

Now, for promoters -
Company has total of 54,00,000 shares - promoters hold 88.39% or 47,72,960 shares.

NOW - AFTER BONUS -
Co's 54,00,000 shares will become 63,71,912 shares (Total shares 54,00,000; bonus to non promoter so minus the promoter holding of 47,72,960 from this 54,00,000 = 6,27,040 shares;Bonus is of 31 new for 20 held so- 6,27,040 divide by 20 already held will give you 31,352 shares multiply this by 31 new shares will give you 9,71,912 new shares ; Add this 9,71,912 with 54,00,000 will give you 63,71,912 shares)-
now, promoters will not be getting Bonus so their holdings remains same at 47,72,960 shares but their percentage will be reduced from 88.39% to 74.90% a reduction of dot 13.49% in promoters holding. This is also one kind of dilution.

BUT this promoter dilution will impact the market cap and co's MCAP before bonus is 54,00,000 Shares X CMP of Rs.353.90 = Rs.191,10,60,000 Cr
Now divide this 191 Cr with new Total shares = Rs. 191,10,60,000 / new total shares of 63,71,912 = Rs. 299.91
I think UP HOTELS should trade near Rs.300 after bonus.

DO SHARE YOU VIEWS -
THANKING YOU TO GIVE ME AN OPPORTUNITY TO EXPRESS MY SELF

REGARDS
BHAVIKK SHAH
CLICK FOR BHAVIKK SHAH's BLOG ALSO ON
STOCKMUSINGS.COM

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Blog 's extreme gratitude to Bhavikk Shah for his brilliant analysis.

3A Capital Services Buying / Selling BSE , Bharat Nidhi , PNB , Frick , Jullundur Motors, Others

3A Capital Services Ltd

A one stop reliable destination with staff strength of 75 executives for Purchase/ sell of unquoted Shares.

For Buying/ Investing or Selling in shares of

Bombay Stock Exchange Limited,

Bharat Nidhi Limited,

PNB Finance & Industries Limited,

Bharti Telecom Limited,

Sistema Shyam Teleservices Limited,

Essar Steel Limited,

Frick India Limited,

Farm Enterprises Limited,

Arch Pharmalabs Limited,

Jullundur Motors Agency (Delhi) Limited,

Gujarat NRE Minerals Resources Limited,

and many more unquoted companies shares for sell.

Contact Detail :

Toll Free : 1800 209 2929

Website : www.3aindia.com
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Dealers of Rare Indian Shares

ANIL GOEL

09896444123

goelgoelbrothers@gmail.com
goelgoelbrothers@ymail.com

MANISH

9958006642

NILESH KOTAK

09274038842

http://www.nileshkotak.com:9080/NileshKotak/BaseHandler?module=home&doaction=view

DHARAWAT

08108303330 or dharawat1@gmail.com

SANDIP GINODIA

ABHISHEK SECURITIES,

sandip@abhisheksecurities.com

9830271248
http://www.abhisheksecurities.com/unlisted.htm

www.sapphirewealth.com

http://www.abhisheksecurities.blogspot.in/

73a, GANESH CH AVENUE, 2ND FLOOR, KOLKATA-700013

OPPOSITE HIND CINEMA, NEAR AXIS BANK

Vikas Aggarwal

09314111189

3A CAPITAL SERVICES

Contact: 022-67809990
Toll Free: 1800 209 2929
Visit: www.3aindia.com

http://www.3aindia.com/

Integrated Fincap Pvt. Limited
HO
1111 , Indraprakash ,
21 ,Barakhamba Road ,
New Delhi-110001

Toll Free : 1800-111-110

Ph. :011-23351793 , 23357089
( m ) 098110 - 65464

TANYA

9871162597

PARDEEP TANTIA

M-9873245550

Dilip Surana

Strides Financial Services
"Arihant Plaza"
84-85,Wall Tax Road, Ist floor
Park Town, Above SBI
CHENNAI 600003
Phone No 044-25350312, 25350313
Fax No 044-42371148
Mobile 9840278351 95000 95121

dilipmsurana@gmail.com
Website : www.investorinfo.in

Vipul Gandhi

Gandhi Associates
25 , New Jagnath , Saptabhumi Apt.,( G.F.)
Rajkot-360001
Tel 0281-3046757 /3057667
(m) 093755- 77007
email: unquotedshares@rediffmail.com
Website www.unquotedshares.co.in

Harish Mittal

09867303077

vickey104@gmail.com

Pankil Shah
veerajbroking@ymail.com
9898616232

Coolraj Sakhlecha

SAKHLECHA STOCK SERVICE
333 MINT ST.,
CHENNAI 600 001
CELL 09841557344
PH - 04425388750. email : coolrajs1970@yahoo.co.in

( List Incomplete- To be Expanded )

Corruption in Indian Corporate Sector- Part II

http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html

We remember an incident in late 1970 s ( when I was a student in Delhi ) , there was a famous case of a Listed Company where there was allegation of Mismanagement .

Govt. has power to appoint Independent Directors , ostensibly , to safeguard the Interests of Minority ( Public Share Holders ).

Some prominent persons gave Bags of Money to get appointed as Directors.

( High denomination notes had been demonetised ( Rs. 100 , then ,Highest Value ) so ." the Public Interest Directors "had a bit of challenge carting ) .

This was because these Persons knew that in the godowns of the Company were lying large quantities of a chemical which at that time was in acute short supply.

The Directors had calculated that they would recover their " investment " by selling this product in Black

http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3

Floor Price - Rs. 5000 -Elcid Investment OFS Today ( 31-05-13 )

Please Click :-

http://www.bseindia.com/corporates/anndet.aspx?newsid=9453f022-328d-45a9-a3d0-89b06cbaf76b

http://www.rareindianshares.info/2013/05/elcid-investment-ofs-31-05-13-no.html

May 30, 2013

Bonus Shares For Non Promoters Only - What Would Be Ex - Bonus Price ?

Retail Investors Should Prefer Differental Voting Rights ( DVR ) Shares - Bhavikk Shah

Please Click :-

http://stockmusings.com/retail-investors-should-prefer-buying-differential-voting-rights-shares/

Valuation of Equity Shares of BSE Limited - Update by Bhavikk Shah

AN IMPORTANT UPDATE ON BSE -

The Exchange vide its Notice No. 20120531-02 dated May 31, 2012 informed the members about the value of shares of BSE Limited to be taken into account by them as fair value for the purpose of computation of their Networth as on March 31, 2012 & September 30, 2012.

The Exchange in order to have uniformity with regard to value of shares of BSE Limited based on the formula mentioned in the Exchange Notice dated December 1, 2008 has determined the Fair Value of Shares of BSE Ltd., duly certified by the Auditor of the Exchange at Rs.139.06 per share against Rs. 161.48 the last year. This value can be taken into account by the trading members for the purpose of computation of Networth as on March 31, 2013 and thereafter for the purpose of computation of Networth as on September 30, 2013.

For the purpose of computation of Networth, members are requested to apply 50% haircut to the Fair Value of shares of BSE Limited as mentioned above.

It is to be noted that, the trading members may take any other value lesser than the valuation done by BSE Limited if the value is certified by the Chartered Accountant.

Accordingly, trading members for the purpose of computation of Networth as on March 31, 2013 and September 30, 2013 can take value of shares of BSE Limited at either Book Value i.e. Re.1/- per share or Fair Value duly certified by Auditor of BSE Limited or can take any other value which is less than the Fair Value if the same is duly certified by the Chartered Accountant of the trading members.

Please Visit -
BHAVIKK SHAH's BLOG

Frick India - Letter by a Share Holder

To .

The Compliance Officer,

Frick India Limited

Dear Sir ,

With due respect we state the following :-

1 ) In view of ( last financial year ending 31-02-12 figures )

Book Value of Rs. 1280 Per Share and EPS of Rs. 150

Share Holders had taken up with the then Company

Secretary Mr. Raman Khalsa , for a Liberal Bonus and a

Split. The last Annual Report was silent on this

2 ) Further , Share holders had taken up with Frick India the

SEBI guidelines regarding Relisting in BSE / NSE as

DSE is non operational

Relevant SEBI guidelines ;-

http://www.sebi.gov.in/cms/sebi_data/attachdocs/1338376477669.pdf

Shareholders are facing great difficulty vis -a vis liquidity of

shares.

3 ) Please place these issues with Shareholders Grievances Committee

4 ) Please include the above issues in the forthcoming Annual Report.

UP Hotels Bonus Issue - Non Promoters Only- Ratio 31 :20

Non Promoter Public Share holders of UP Hotels get a bonanza . Only for them Bonus Issue in the ratio of 31 bonus shares for every 20 held.

http://www.moneycontrol.com/news/announcements/up-hotels-updatesratiobonus-shares_883905.html

Does this mean that UP Hotels has dropped its earlier plans to Delist.

A Dividend of 50 % has been declared for 2012-13

UP Hotels owns the chain of famous Clark Group of Hotels .

http://www.rareindianshares.info/2009/09/u-p-hotels-limited.html

http://www.hotelclarks.com/

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Bonus Shares For Non Promoters Only - What Would Be Ex - Bonus Price ?

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Answer By Bhavikk Shah

General Warning : Investment in Shares Can be Injurious to Your WEALTH

Caution :The blog writer has personal/ family members' holdings in this Company , so please make suitable "provisions " for likely over optimism

( NB : All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog . )

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May 29, 2013

If You Want Our Shares Mr. Majority Holder Then Come And Negotiate With Us

Regarding Compulsory Cancellation of Shares Moves by

Cadbury India Limited

Shakti Met-Dor Limited ((Indian subsidiary of German MNC giant Hormann Beteilgungs Gmbh )

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The Majority cannot dictate to the Minority to compulsorily sell their Shares and that too at rates set by Majority Appointed Valuers / C A s.

This is what was done by Cadbury India and , now , being done by Shakti Met -Dor (subsidiary of German giant Hormann Beteilgungs Gmbh )

Delisting may be OK . But forced cancellation of Minority shares is not done even in Capitalism

Capitalism means Demand and Supply.

If the Majority wants the Minority 's shares then , to Quote from Mario Puzo 's Godfather " " They should make an offer we cannot refuse ". Let them approach us and buy at a mutually agreeable price but not at a Dictated Price.

Free will transactions are the essence of Capitalism .

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http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html

http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3

In India Tribals Are Like Physically Handicapped - Both Dumped

http://www.firstpost.com/politics/chhattisgarh-attack-is-ddlj-attitude-the-heart-of-naxal-problem-824869.html#disqus_thread

Maoism and such like anti State movements represent , basically , the failure of Democracy in India.

Theoretically , in a democratic set up , if any section of our society has any grievance , then the elected Representatives should address the issues.

But , in reality , our MP s / MLA s are not sensitive to the aspirations of the electorate , not for at least the first 4 years 6 months of their getting elected. Even then they work out a clever formula of Vote Bank combinations in which the targeted Vote Banks get state funded freebies and other benefits. But the Non Vote Banks are , not only ignored but even made to foot the bill for the benefits given to the Vote Banks.

So , there is no one who would listen to the concerns of the Non Vote Banks. Which doors to knock?

Behind their closed doors , there is only noise and din of Adjournments , Walkouts , Freebies / Subsidies for Rich Farmers , Reservations in promotions , OBC Quota for the Creamy Layer, Banning FDI in Retail etc etc.

Example , even in a developed state like Punjab Vote Bank ( rich Farmers ) get Rs. 8500 crore worth of annual Free Electricity , Diesel cheapest in India , Petrol ( used by the common Man or Non Vote Banks ) Rs. 8 Per Liter more expensive than in neighboring Haryana . But not a single Paisa relief to the Physically Handicapped

Why ? Because Physically Handicapped are no Party's Vote Bank.

They do not count in the Election Algebra .

Tribals of India are just like the Physically Handicapped Indians .

( Even in Reservations for SC / ST the same family goes on monopolising the benefit generation after generation . They have no qualms about denying the Reservation benefit to the truly deserving in their own community )

Where do the underprivileged / oppressed go in India ?

Corruption is Also in Indian Corporate Sector

Please read this Firstpost article :-

http://www.firstpost.com/business/not-only-netas-and-babus-pvt-sector-is-new-fountain-head-of-corruption-821165.html#disqus_thread

For UN Report , please click ( Page No. 15 )

http://www.unodc.org/documents/southasia//publications/research-studies/CI_Report.pdf ---------------------------------------------------------------------------------------------------------------

BLOG

Asset Laden Investment Companies- Promoters Uninterested in True Value Unlocking

Promoters initially invite public investment by selling shares in their holding companies . These holding companies promote new companies Over a period of time their promoted ventures succeed and the original investment made by the holding company multiplies many times over in value . Now instead of genuinely sharing the wealth with all the stakeholders non promoter minority share holders of original holding companies are treated as UNWANTED , like sort of poor relatives at a rich cousin's marriage party.

1 ) Majority stake in these Holding companies is always with the Promoters. So they are able to get all Resolutions passed . There are no Institutional holdings ( domestic or Foreign ). So level of transparency in these companies is not at the same level as widely held companies.It suits the promoters to keep these companies in low profile and keep its true worth hidden.. Non promoter share holders suffer.

2 ) Over a period of time many share holders ' folios become dormant due to death of original shareholders and court cases .

3 ) In many pre 1947 incorporated companies many share holders migrated to Pakistan . Such folios ( Custodian of Enemy properties ) also are dormant .

4 ) Either these companies are not listed or these are kept only NOTIONALLY listed in Regional Stock Exchanges. Such listings are of not much use to the non promoter share holders.

5 ) Despite massive EPS these investment companies either skip dividends or declare woefully low dividends. Such moves keep the company in low profile and the share rate ( if any ) artificially low. Such practices hurt non promoter share holders' interests .

6 ) Despite bulging Reserves Bonus Shares or Splits are not done. (Very surprisingly , Binani Metals Limited has done a Reverse Split to unprecedented Rs. 1000/-.

7 ) Many such investment companies avoid sending Annual Reports to Non Promoter share holders.

8 ) Some such companies shift their Registered Offices to obscure places and hold meetings at venues which are difficult to reach. Many a time only company officials ( with Proxies ) are in attendance to see the proceedings through.

Investors ( non promoter ) of such investment companies should demand from the Government and SEBI to devise special Rules and Regulations for these companies

1 ) Such investment holding companies should compulsorily be listed in BSE / NSE. ( to improve liquidity ).

2 ) Face value should be split ( to improve liquidity )

3 ) Meaningful quantum of dividends should be declared . ( Minimum 25 % of the Financial Year's EPS should be declared as Dividend percentage )

Some Investment Holding Companies.

FARM ENTERPRISES LIMITED ( Reliance Enterprises Limited )

Mukesh Ambani Group ; Promoters' Shares in Reliance Industries Limited ; Not Listed , Massive EPS - No Dividend . AGM not in auditorium ; Very few non company share holders attend AGM .Conversion of Equity Shares to Preference shares) etc etc. Rate in unofficial market around Rs, 600 ( True Value may be in thousands ) .

There should be listing in the NSE .

http://www.rareindianshares.info/2009/12/farm-enterprises-limited.html

PNB FINANCE AND INDUSTRIES LIMITED
BHARAT NIDHI LIMITED
CAMAC COMMERCIAL

Belong to Samir Jain of Bennett Coleman And Company ( Times of India Group ). These companies hold promoters ' shares in Bennett Coleman And Company Limited .

Example : PNB Finance And Industries Limited ( Equity Rs. around 3 cr , Face value Rs. 10 ) holds , on consolidated basis , around 58 lakh shares of Bennett Coleman And Company Limited . This effectively translates into around 2 shares of Bennett Coleman And Company Limited for every one share of PNB Finance And Industries Ltd. Value of one share of Bennett Coleman And Co. has been worked out by some analysts to be around Rs. One Lakh ( please calculate independently ).

But share of PNB Finance And Industries Limited ( Face Value Rs. 10 ) is being traded unofficially Rs. 4500 - Rs.5000 which is a mere fraction of its true value. Although the EPS for the financial year ended was around Rs. 79 /- , dividend paid was only 6 % ( a return of 60 paise on an investment of nearly Rs. 5000 ).
( In the unofficial trades ,share price of Bharat Nidhi is around 25 % higher than that of PNB Finance And Industries Limited .Rate of Camac Commercial could be higher than Bharat Nidhi Limited )( There are , presently ,only buyers of PNB Finance and Bharat Nidhi shares and practically no seller )

No official trading in CSE .
DSE is closed.

There should be listing in NSE.

Shares should be split in to Re. 1 each .

http://www.rareindianshares.info/2009/06/pnb-finance-industries-limited.html

http://www.rareindianshares.info/2010/09/bennett-coleman-and-company-limited.html

NBI INDUSTRIAL FINANCE LIMITED

BG Bangur group's holding company. Holds promoters shares in Shree Cement Limited ( reportedly around 8 : 5 Lakh ). No trading of NBI Industrial ,: No dividend . Many complaints of non receipt of Annual Reports.

http://www.rareindianshares.info/2009/06/nbi-industrial-finance-limited.html

BINANI METALS LIMITED

Holding company of Braj Binani group Holding very valuable shares of Binani Industries Limited and Binani Zinc Limited . 3 : 1 Rights Issue made for a Real Estate project which was later dropped . Promoters increase their holding. Some times increasing share capital ( Rights Issue ). Some times decreasing Share Capital ( Share buy backs ).

FACE VALUE INCREASED TO UNPRECEDENTED Rs. 1000 ( No other Listed company in India has a Face Value of Rs. 1000 ). Many share holders became holders of fractional shares . Their ( including many dormant folios ) shares compulsorily sold at fraction of the true value. Share value should have been split to Re. One.Now , valuable holdings being transferred to a private limited company i.e. Dharmik Commondeal Private Limited not at true value but at book value .

http://www.rareindianshares.info/2012/09/rate-89-paise-per-share-transfer-of-48.html

http://www.rareindianshares.info/2009/06/binani-metals-limited.html
http://www.rareindianshares.info/2011/01/binani-metals-limited-why-face-value.html
http://www.sebi.gov.in/dp/binani.pdf
http://www.rareindianshares.info/2012/09/treat-non-promoter-monority-share.html

OSCAR INVESTMENTS LIMITED

Of Religare / Fortis group. Made a fortune by selling Ranbaxy shares. Although listed in BSE ( actively traded ) but no dividend

http://www.rareindianshares.info/2010/09/oscar-investments-limited.html

BHARTI TELECOM LIMITED

On a capital base of around Rs. 21 crore , Bharti Telecom holds around 172 crore shares of Bharti Airtel ( worth around Rs. 53 ,000 crore ). For the financial year 2009 -10 , Bharti Telecom received dividend income of Rs.173 crore which was utilised to buy a further 55 lakh shares of Bharti Airtel . But no Dividend for the share holders of Bharti Telecom Limited

http://www.rareindianshares.info/2011/02/bharti-telecom-limited.html

Others

NALWA SONS INVESTMENT

http://www.rareindianshares.info/2010/12/nalwa-sons-investments-limited-jindal.html

CHEMINVEST LIMITED
http://www.rareindianshares.info/2011/09/cheminvest-limited-annual-report-2010.html
http://www.rareindianshares.info/2011/07/cheminvest-limited.html

WILLIAMSON FINANCIAL

SIL INVESTMENTS LIMITED ( SUTLEJ COTTON MILLS )

http://www.rareindianshares.info/search?q=sil
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http://www.suchetadalal.com/?id=175202d7-a5ce-be2f-492fe1477460&base=sub_sections_content&f&t=Essar%27s+Delisted+Saga

http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html --------------------------------------------------------------------------------------------------------------

On the other hand there are some progressive and pro- investor investment companies ( whose example all investment companies should follow ).

Like

Bajaj Holding And Investment Limited
Tata Investment Corporation Limited

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HUM MEHNAT KASH ISS DUNIYA SE
JAB APNA HISSA MANGEY GEY
IK BAGH NAHI; IKK KHET NAHIN
HUM SAARI DUNIYA MANGEY GEY
( Josh Malihabadi )
___________________________________________________________________________________--

General Warning : Investment in Shares Can be Injurious to Your Wealth

Disclosure : We have family holdings in many of the Companies mentioned above

Disclaimer : All comments / facts stated purely in good faith to further the interests of fellow public investors. Please recheck every fact.
NO responsibility with this blog / writer

LINK:-http://www.rareindianshares.info/2010/12/asset-laden-investment-companies.html

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http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3

Cadbury India Limited

We salute all those share holders of Cadbury India who are steadfastly giving their time and money in pursuing the High Court case against compulsory acquisition of shares from remaining minority share holders.

There are around 8,159 remaining non promoter shareholders who together own 2.42% stake in Cadbury India.

We strongly feel that Government of India and SEBI should amend the laws so that Companies using their " brute majority " are not able to " compulsorily " buy out minority shareholders at what they perceive to be the " fair value " . Delisting may be OK . But a High Court Order for selective share reduction ( of Non Promoter Share holders ) is a different matter altogether.

1 ) If a company wishes to buy back compulsorily then in the voting procedure the majority holder ( promoter ) should be debarred from voting . Only the small share holders should have the Right to vote on that particular Resolution .

2 ) As in the case of land acquisition , the Company should state valid reasons for acquisition of remaining shares ( In Cadbury 's case the remaining 2 odd % share holders can , frankly , in no way alter the Company 's policies.) Only a few more Annual Reports are to be despatched and a few more chairs at the AGM . ( Cadbury India Limited 's shares were delisted w.e.f 20-01-2003 )

3 ) There should be a soletium ( a premium over and above the fair value to compensate for compulsory buy out ) of 50 %

If the Company feels that the rate it is offering is " FAIR " then it should , also , be willing to offer to sell its entire majority holding at that rate . The minority share holders ( and other Indian share holders ) should have a Right of Pre emption at that " FAIR " rate. For example if Cadbury India Limited feels that Rs.2000 is a " fair rate " then Indian shareholders in general should be given an opportunity to form a SPV ( Special Purpose Vehicle ) Company which ( with suitable debt equity Leveraged Buy out ) and buy at the same rate the majority shares from the Promoters. A period of 6 months should be kept for giving this opportunity to Non Promoter Indian shareholders

However , we sincerely wish that Cadbury India Limited offers its remaining loyal share holders " Kuchh Meetha " and in New Year 's " Shubh Arambh " withdraws this move.
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Compulsory Back Back of Shares- Violates Fundamental Right to Equality

Regarding the move , earlier of Cadbury India Limited and , now , by Shakti Met-Dor Limited :-

Compulsory Buy Back of Shares ( selectively from minority Non promoter Share holders ) is violative of Fundamental Right of Equality enshrined in the Constitution of India

Such a move creates two separate and unequal classes of Shareholders , i.e. Promoter Share Holders and Non Promoter Share Holders .

Please read this very informative Post :-

http://www.legalservicesindia.com/article/article/squeeze-out-of-minority-shareholders-1503-1.html

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For Shakti Met-Dor , please click :-

http://www.rareindianshares.info/2013/05/shakti-met-dor-compulsory-acquisition.html

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Nirma Compulsory Buy Back- Shareholders to Oppose Tooth And Nail

Shareholders of Nirma Limited are determined to oppose vehemently Nirma Limited 's anti small shareholder move to compulsorily buy back non promoters shares @ Rs. 225 ( Rs 5 Paid ).

AGM at Ahmedabad on 23/07/13 , 11 AM

Shareholders are writing their opposition by sending letters , Regd Post , to the Compliance Officer. Later , legal action ( like with Cadbury India and Shakti Metdor would be undertaken )

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August 15, 2009

Macmillan Publishers India Limited

In a very surprising and complicated legal move Macmillan Publishers Limited has extinguished old Equity Shares and has given its shareholders 3 Options :-

1 ) Cash option of Rs. 69 per Share ( same rate as was offered 6 years ago !! )

2 ) Opt for Redeemable Preference Shares ( RPS ).

3) Continue as Equity Shareholder of the Transferee Company ( through Macmillan Equity Shares Trust ).( in terms of Clause 18 . 04 )
=====================================

Kindly note :-

1 ) The above Options are to be exercised within a period of 60 days from Record Date i.e. before 13 -04-2014

2 ) The Default Option is No 1 Option i.e. cash offer of Rs.69 per Share

3 ) The Shareholder if he receives a Cheque for Cash Option can return the un encashed cheque with in 30 days and can opt for other two options i.e. Preference Shares / Equity Shares.

3 ) RTA are Cameo Corporate Services Limited ,

Chennai

Tel : 044 -28460390 to 28460395
email : investor@cameoindia.com

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Blog Comments :

It seems the management is desperate to kick out its Equity shareholders at fraction of NAV of Company.

The net worth / prospects seems to have improved greatly ( please recheck this point independently ) with the merger of wholly owned subsidiary , i.e.Frank Brothers And Company ( Publishers ) Limited with Macmillan Publishers ( India ) Limited .

3 ) Regarding our holdings in Macmillan Publishers ( India ) Limited we have opted , on immediate basis , for the Equity Option.

4 ) No worry about Liquidity - Please Recheck independently -( We have Rare Indian Shares site )

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http://www.suchetadalal.com/?id=175202d7-a5ce-be2f-492fe1477460&base=sub_sections_content&f&t=Essar%27s+Delisted+Saga

http://www.business-standard.com/india/news/cadbury-raises-buyback-price/421719/

http://www.moneycontrol.com/news/business/why-didn39t-you-give-fin-projections-to-ey-hc-asks-cadbury_562074.html

http://seekingalpha.com/news-article/1520805-cadbury-kraft-india-one-of-fastest-growing-operations-for-kraft-globally

http://rareindianshares.blogspot.com/2011/01/cadbury-quit-india.html

http://www.gauravblog.com/?p=1277

http://www.kraftfoodscompany.com/in/en/Brands/index.aspx

http://www.rareindianshares.info/2012/07/ecellent.html

http://altaisadvisors.com/blog/2012/07/08/cadbury-india/comment-page-1/#comment-1517

http://www.rareindianshares.info/2012/11/cadbury-india-or-mondelez-international.html

LINK