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August 17, 2017
Frick India-Annual Report-2016-17
Please click
http://linkintime.co.in/website/gogreen/2017/AGM/FIL/ANNUAL_REPORT.pdf
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AGM on 08/09/2017 at Faridabad
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Please click
http://linkintime.co.in/website/gogreen/2017/AGM/FIL/ANNUAL_REPORT.pdf
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AGM on 08/09/2017 at Faridabad
http://linkintime.co.in/website/gogreen/2017/AGM/FIL/ANNUAL_REPORT.pdf
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AGM on 08/09/2017 at Faridabad
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Frick India Ignoring SEBI Directions
FRICK ' Reply to Shareholders Demand for Relisting in BSE as per SEBI :-
Dear Sir,
The Company appreciates your concern and takes the opportunity to provide you with the following reply:-
This is to bring to your kind attention that as per Clause 9 of the SEBI Circular no. CIR/MRD/DSA/14/2012 dated May 30, 2012 regarding Relisting in BSE / NSE as DSE is non operational, is not applicable to the Company as it clearly states that the said circular applies only to the following: -
(i) Recognized stock exchanges
(ii) Stock exchanges that stand de-recognised as on date of this circular
(iii) Stock exchanges that have applied for derecognition / exit as on the date of this circular
Please refer page no. 05 of the SEBI Circular no. CIR/MRD/DSA/14/2012 dated May 30, 2012.
Further the Company assures you that in case any requirement arises in future, the Company shall take prompt action in this regard.
Hope the above submission and clarification on behalf of your Company is helpful to you.
Should you have any further doubts, please revert.
R. C. Sharma
Company Secretary & Compliance Officer
Frick India Limited
21.5 KM, Main Mathura Road,
Faridabad-121003 (Haryana)
Ph 0129-2275691-94, 2270546-47
We are grateful yo you for your prompt reply.
We draw your attentions to the following clauses of the SEBI circular
http://www.sebi.gov.in/cms/
3.2 The exclusively listed companies, which fail to obtain listing on any other
Refer SEBI Circular
2.3 If the stock exchange is not able to achieve the prescribed turnover of Rs
1000 Crores on continuous basis or does not apply for voluntary surrender
of recognition and exit before the expiry of two years from the date of this
Circular, SEBI shall proceed with compulsory de-recognition and exit of
such stock exchanges, in terms of the conditions as may be specified by
SEBI.
stock exchange, will cease to be a listed company and will be moved to the
dissemination board by the exiting stock exchange. Therefore, in the
interest of investors of exclusively listed companies, a mechanism of
dissemination board will be set-up by stock exchanges having nationwide
trading terminals.
It is very clear that as per Clause 2 .3 of SEBI circular , Delhi Stock Exchange is a Compulsorilyy De-Recognized Stock Exchange.
Further , we fail to understand the logic behind delaying Relisting in BSE when similar cases like that of Jullundur Motor ( exclusively listed in DSE ) have already gone ahead with issue of Bonus shares and application for Relisting in BSE.
In case , the Management of Frick India does not wish to Relist , then it can seek Voluntary Delisting of its Shares and convert Frick India in to a Private Limited entity.
Refer SEBI Circular
3.3 Dissemination Board:
Under this mechanism, a willing buyer and seller will be given an
opportunity to disseminate their offers using the services of brokers of
stock exchanges hosting dissemination board. The mechanism of
dissemination board shall be given wide publicity for the benefit of the
investors of exclusively listed companies. Every stock exchange hosting a
dissemination board shall clearly bring out the guidelines in respect of the
Dissemination Board on its website.
We are sure that Frick India Limited is all for helping Small Non Promoter share holders and would avoid taking any confrontation with the Regulatory bodies.
Regards ,
SHARE HOLDER
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August 20, 2016
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 / blog writer.
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