Message Received :-
I have a few shares of Nirma Limited. I read on this blog that company tried to forcibly cancel shares in July 2013 and pay investors a small amount. Was the company successful in this? I did not receive any cheque for pending amount, hence i ask this question. Please let me know if anyone has knowledge or own Nirma shares.
================================================================
Blog Answer :-
Nirma Limited has treated its remaining LOYAL shareholders very shabbily.
Earlier ,at the time of Delisting Shares were bought @ Rs. 260.
Recently , the remaining Non Promoter Shares were forcibly acquired @ Rs. 220 .Cheques have been despatched.
=========================
This happens Only in India
JAi HO
===================
EARLIER POSTS
Total Number of Non Promoter Shares : 7439704 shares - Rs. 5 Paid ( 4 :68 % )
I have a few shares of Nirma Limited. I read on this blog that company tried to forcibly cancel shares in July 2013 and pay investors a small amount. Was the company successful in this? I did not receive any cheque for pending amount, hence i ask this question. Please let me know if anyone has knowledge or own Nirma shares.
================================================================
Blog Answer :-
Nirma Limited has treated its remaining LOYAL shareholders very shabbily.
Earlier ,at the time of Delisting Shares were bought @ Rs. 260.
Recently , the remaining Non Promoter Shares were forcibly acquired @ Rs. 220 .Cheques have been despatched.
=========================
This happens Only in India
JAi HO
===================
EARLIER POSTS
06, 2013
Nirma Compulsory Acquisition of Non Promoters Details
April 01, 2014
Total Number of Non Promoter Shares : 7439704 shares - Rs. 5 Paid ( 4 :68 % )
No. of Non Promoter :Shareholders :41,619
Reason given in EGM Notice ( for 23/ 07 / 13 -11 AM , Ahmedabad ) as to why Promoters ' shares are excluded from compulsory capital reduction is that these Share holders have given their consent to RETAIN their shares ( Page 3 - Explanatory Statement , Second Last Para ).
So , the legal position may be that all those shareholders ( Promoter or Non Promoter ) who give their consent to retain their shares would be excluded from this compulsory acquisition / cancellation of shares .
=============================================================
NB: Send this letter , also , in hard copy by Regd. Post / Speed Post
Nirma Limited - Compulsory Buy Back- Letter to Compliance Officer
From :- Dated:- 04-07-2013
To ,
The Compliance Officer ,
Nirma Limited,
Nirma House, Ashram Road,
Ahmedabad - 380009
Dear Sir ,
With due respect , we state as under :-
1 ) We hold shares of your Company under L/f : ( A/c - ).
2 ) The move to compulsory acquire shares selectively from the remaining share holders @ Rs. 225 Per Share is unrealistic and unacceptable to us .
3) The compulsory buy-back rate of Rs.225/- is grossly unfair to the remaining public share holders as the rate at the time of Delisting was Rs. 260. Instead of increasing the Rate , it has been decreased
3 ) In case our name ( , L/ f ) figures in your list of shares for Compulsory Cancellation , then , please remove it - from the list ,under intimation to us ( by Registered post / Speed Post ).
4 ) We request you to withdraw this anti Non - Promoter move in its entirety .
5 ) PIease, also dispatch a certified copy of the valuation report.
6) In case, the Company persists , then we would be left with no other remedy but to challenge the same in appropriate Court of Laws , including the Hon'ble High Court of Gujarat and the Hon'ble National Company Law Tribunal.
( Please study the rulings given in the case of compulsory and selective cancellation of shares by Cadbury India Limited )
As we are CAVEATORS , please do keep us updated of all the legal moves by the Company in this regard.
Regards
Share Holder
email ;-
--------------------------------------------------------------------------------
Email address of Nirma :-
info@nirma.co.
==========================================
Nirma 's Voluntary Tendering Delisting @ 260 - Compulsory Buy Back @ 225
In treating its Share holders shabbily / unwanted babies ,Nirma Limited has beaten its Peers like Cadbury India , Shakti Metdor etc.
Whereas Nirma Limited voluntary Tendering Rate at the time of Delisting was Rs. 260 , now , Nirma wants to kick out the remaining share holders @ Rs, 225
Wonder how they treat Class IV employees there.
Are Share holders ( owners of the Public Limited Company ) treated any better ?
If such is the mind set of owners then why do they invite Public Capital , in the first place ?
They are better off as HUF / Private Limited
http://www.rareindianshares.info/2013/07/nirma-compulsory-buy-back-shareholders.html
------------------------------------------------------------------------------------------------------------
NIRMA LIMITED
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
-------------------------------------------------------------------------------
Whereas Nirma Limited voluntary Tendering Rate at the time of Delisting was Rs. 260 , now , Nirma wants to kick out the remaining share holders @ Rs, 225
Wonder how they treat Class IV employees there.
Are Share holders ( owners of the Public Limited Company ) treated any better ?
If such is the mind set of owners then why do they invite Public Capital , in the first place ?
They are better off as HUF / Private Limited
http://www.rareindianshares.info/2013/07/nirma-compulsory-buy-back-shareholders.html
------------------------------------------------------------------------------------------------------------
NIRMA LIMITED
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
-------------------------------------------------------------------------------
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 ).
Earlier Delisting Price was Rs. 260 . Now , Kicking Out Rate is Rs. 225 .
Are the Promoters willing to Sell Out their Holding at Rs. 225 ?
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 )
------------------------------------------------------------------
--------------------------------------------------http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html
------------------------------------------------------------------------------------
Disclosure :- Blog Writer holds in his name / family members shares of Nirma limited
Earlier Delisting Price was Rs. 260 . Now , Kicking Out Rate is Rs. 225 .
Are the Promoters willing to Sell Out their Holding at Rs. 225 ?
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 )
------------------------------------------------------------------
--------------------------------------------------http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html
------------------------------------------------------------------------------------
Nirma EGM- Shareholders Force Voting - Ballot Results Tomorrow
We have received Reports ( which please RECHECK independently - no responsibility with us ) that :-
EGM- 23-07-13 - for compulsory acquisition of Non Promoter shares was stormy.
Shareholders asked for
1 ) Cancellation of this anti shareholder move.
2 ) challenged the Valuation Report
3 ) Decided to oppose the Move in the Hon'ble High Court of Gujarat ( on the lines of Cadbury India and Shakti Metdor cases)
Ultimately , voting was held ( ballot system )
Results are expected to be declared tomorrow.
BLOG DISCLAIMER : PLEASE RECHECK ALL INFORMATION. NO
EGM- 23-07-13 - for compulsory acquisition of Non Promoter shares was stormy.
Shareholders asked for
1 ) Cancellation of this anti shareholder move.
2 ) challenged the Valuation Report
3 ) Decided to oppose the Move in the Hon'ble High Court of Gujarat ( on the lines of Cadbury India and Shakti Metdor cases)
Ultimately , voting was held ( ballot system )
Results are expected to be declared tomorrow.
BLOG DISCLAIMER : PLEASE RECHECK ALL INFORMATION. NO
RESPONSIBILITY WITH BLOG
-----------------------------------------------------------------
Disclosure :- Blog Writer holds in his name / family members shares of Nirma limited
April 02, 2013
Nirma Drops Move to Consolidate Face Value to Rs.50,000 Per Share
Small Shareholders of the Delisted FMCG Company , Nirma Limited ,have welcomed the cancelling of the grossly Anti Small Shareholder move to Reverse Split ( Consolidate the Face Value of One Share from Rs. 5 Per Share to Rs. 50,000 Per Share ) by issuing one Share of Rs. 50,000 for every 10,000 shares.
Such a move is a under hand Compulsory acquisition of shares from small shareholders.
For this Nirma Limited Resolution , please click :-
{ Please do read the highly arrogant ( Anti Non Promoter shareholder mindset ) and illogical Justification - given for this Shameful move in the EXPLANATORY STATEMENT in the Agenda circulated .}
http://www.nirma.co.in/pdf/EGM-Notice-12-12-2012.pdf
----------------------------------------------------------------------
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 )
-----------------------------------------------------------------------------------------------------------
A few years ago, asset laden and listed company Binani Metals Limited , had in a similar move made a Reverse Split ( consolidation from Rs. 100 Face Value to Rs. 1000 Per Share ) thus making a compulsory Buy Back ( at very Low Rates ) from Small Share holders and of Custodian of Enemy Properties Shareholders ( now in Pakistan ).
Binani Metals Limited ( exclusively listed at Calcutta Stock Exchange ) is the only Listed Share in India to have a Face Value of Rs.1000 /- !!
For Binani Metals Reverse Split, please Click :-
http://www.rareindianshares.info/2011/01/binani-metals-limited-why-face-value.html
--------------------------------------------------------------------------------------------------
http://www.rareindianshares.info/2013/03/nirma-limited.html
http://economictimes.indiatimes.com/nirma-ltd/directorsreport/companyid-10565.cms
-----------------------------------------------------------------------------------------------------
Disclosure :- Blog Writer holds in his name / family members shares of Nirma limited ( less than 10,000 shares ) and Binani Metals Limited
Such a move is a under hand Compulsory acquisition of shares from small shareholders.
For this Nirma Limited Resolution , please click :-
{ Please do read the highly arrogant ( Anti Non Promoter shareholder mindset ) and illogical Justification - given for this Shameful move in the EXPLANATORY STATEMENT in the Agenda circulated .}
http://www.nirma.co.in/pdf/EGM-Notice-12-12-2012.pdf
----------------------------------------------------------------------
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 )
-----------------------------------------------------------------------------------------------------------
A few years ago, asset laden and listed company Binani Metals Limited , had in a similar move made a Reverse Split ( consolidation from Rs. 100 Face Value to Rs. 1000 Per Share ) thus making a compulsory Buy Back ( at very Low Rates ) from Small Share holders and of Custodian of Enemy Properties Shareholders ( now in Pakistan ).
Binani Metals Limited ( exclusively listed at Calcutta Stock Exchange ) is the only Listed Share in India to have a Face Value of Rs.1000 /- !!
For Binani Metals Reverse Split, please Click :-
http://www.rareindianshares.info/2011/01/binani-metals-limited-why-face-value.html
--------------------------------------------------------------------------------------------------
http://www.rareindianshares.info/2013/03/nirma-limited.html
http://economictimes.indiatimes.com/nirma-ltd/directorsreport/companyid-10565.cms
-----------------------------------------------------------------------------------------------------
uly 06, 2013
Nirma Compulsory Acquisition of Non Promoters Details
Total Number of Non Promoter Shares : 7439704 shares - Rs. 5 Paid ( 4 :68 % )
No. of Non Promoter :Shareholders :41,619
Reason given in EGM Notice ( for 23/ 07 / 13 -11 AM , Ahmedabad ) as to why Promoters ' shares are excluded from compulsory capital reduction is that these Share holders have given their consent to RETAIN their shares ( Page 3 - Explanatory Statement , Second Last Para ).
So , the legal position may be that all those shareholders ( Promoter or Non Promoter ) who give their consent to retain their shares would be excluded from this compulsory acquisition / cancellation of shares .
=============================================================
NB: Send this letter , also , in hard copy by Regd. Post / Speed Post
Nirma Limited - Compulsory Buy Back- Letter to Compliance Officer
From :- Dated:- 04-07-2013
To ,
The Compliance Officer ,
Nirma Limited,
Nirma House, Ashram Road,
Ahmedabad - 380009
Dear Sir ,
With due respect , we state as under :-
1 ) We hold shares of your Company under L/f : ( A/c - ).
2 ) The move to compulsory acquire shares selectively from the remaining share holders @ Rs. 225 Per Share is unrealistic and unacceptable to us .
3) The compulsory buy-back rate of Rs.225/- is grossly unfair to the remaining public share holders as the rate at the time of Delisting was Rs. 260. Instead of increasing the Rate , it has been decreased
3 ) In case our name ( , L/ f ) figures in your list of shares for Compulsory Cancellation , then , please remove it - from the list ,under intimation to us ( by Registered post / Speed Post ).
4 ) We request you to withdraw this anti Non - Promoter move in its entirety .
5 ) PIease, also dispatch a certified copy of the valuation report.
6) In case, the Company persists , then we would be left with no other remedy but to challenge the same in appropriate Court of Laws , including the Hon'ble High Court of Gujarat and the Hon'ble National Company Law Tribunal.
( Please study the rulings given in the case of compulsory and selective cancellation of shares by Cadbury India Limited )
As we are CAVEATORS , please do keep us updated of all the legal moves by the Company in this regard.
Regards
Share Holder
email ;-
--------------------------------------------------------------------------------
Email address of Nirma :-
info@nirma.co.
-------------------------------------------------------------------------------------------
July 03, 2013
Nirma 's Voluntary Tendering Delisting @ 260 - Compulsory Buy Back @ 225
In treating its Share holders shabbily / unwanted babies ,Nirma Limited has beaten its Peers like Cadbury India , Shakti Metdor etc.
Whereas Nirma Limited voluntary Tendering Rate at the time of Delisting was Rs. 260 , now , Nirma wants to kick out the remaining share holders @ Rs, 225
Wonder how they treat Class IV employees there.
Are Share holders ( owners of the Public Limited Company ) treated any better ?
If such is the mind set of owners then why do they invite Public Capital , in the first place ?
They are better off as HUF / Private Limited
http://www.rareindianshares.info/2013/07/nirma-compulsory-buy-back-shareholders.html
------------------------------------------------------------------------------------------------------------
NIRMA LIMITED
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
-------------------------------------------------------------------------------
Whereas Nirma Limited voluntary Tendering Rate at the time of Delisting was Rs. 260 , now , Nirma wants to kick out the remaining share holders @ Rs, 225
Wonder how they treat Class IV employees there.
Are Share holders ( owners of the Public Limited Company ) treated any better ?
If such is the mind set of owners then why do they invite Public Capital , in the first place ?
They are better off as HUF / Private Limited
http://www.rareindianshares.info/2013/07/nirma-compulsory-buy-back-shareholders.html
------------------------------------------------------------------------------------------------------------
NIRMA LIMITED
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
-------------------------------------------------------------------------------
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 ).
Earlier Delisting Price was Rs. 260 . Now , Kicking Out Rate is Rs. 225 .
Are the Promoters willing to Sell Out their Holding at Rs. 225 ?
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 )
------------------------------------------------------------------
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
--------------------------------------------------http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html
------------------------------------------------------------------------------------
Disclosure :- Blog Writer holds in his name / family members shares of Nirma limited
Earlier Delisting Price was Rs. 260 . Now , Kicking Out Rate is Rs. 225 .
Are the Promoters willing to Sell Out their Holding at Rs. 225 ?
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 )
------------------------------------------------------------------
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
--------------------------------------------------http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html
------------------------------------------------------------------------------------
Disclosure :- Blog Writer holds in his name / family members shares of Nirma limited
July 02, 2013
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 ).
Earlier Delisting Price was Rs. 260 . Now , Kicking Out Rate is Rs. 225 .
Are the Promoters willing to Sell Out their Holding at Rs. 225 ?
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 )
------------------------------------------------------------------
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
--------------------------------------------------http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html
------------------------------------------------------------------------------------
Disclosure :- Blog Writer holds in his name / family members shares of Nirma limited
Earlier Delisting Price was Rs. 260 . Now , Kicking Out Rate is Rs. 225 .
Are the Promoters willing to Sell Out their Holding at Rs. 225 ?
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 )
------------------------------------------------------------------
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
--------------------------------------------------http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html
------------------------------------------------------------------------------------
uly 06, 2013
Nirma Compulsory Acquisition of Non Promoters Details
Total Number of Non Promoter Shares : 7439704 shares - Rs. 5 Paid ( 4 :68 % )
No. of Non Promoter :Shareholders :41,619
Reason given in EGM Notice ( for 23/ 07 / 13 -11 AM , Ahmedabad ) as to why Promoters ' shares are excluded from compulsory capital reduction is that these Share holders have given their consent to RETAIN their shares ( Page 3 - Explanatory Statement , Second Last Para ).
So , the legal position may be that all those shareholders ( Promoter or Non Promoter ) who give their consent to retain their shares would be excluded from this compulsory acquisition / cancellation of shares .
=============================================================
NB: Send this letter , also , in hard copy by Regd. Post / Speed Post
Nirma Limited - Compulsory Buy Back- Letter to Compliance Officer
From :- Dated:- 04-07-2013
To ,
The Compliance Officer ,
Nirma Limited,
Nirma House, Ashram Road,
Ahmedabad - 380009
Dear Sir ,
With due respect , we state as under :-
1 ) We hold shares of your Company under L/f : ( A/c - ).
2 ) The move to compulsory acquire shares selectively from the remaining share holders @ Rs. 225 Per Share is unrealistic and unacceptable to us .
3) The compulsory buy-back rate of Rs.225/- is grossly unfair to the remaining public share holders as the rate at the time of Delisting was Rs. 260. Instead of increasing the Rate , it has been decreased
3 ) In case our name ( , L/ f ) figures in your list of shares for Compulsory Cancellation , then , please remove it - from the list ,under intimation to us ( by Registered post / Speed Post ).
4 ) We request you to withdraw this anti Non - Promoter move in its entirety .
5 ) PIease, also dispatch a certified copy of the valuation report.
6) In case, the Company persists , then we would be left with no other remedy but to challenge the same in appropriate Court of Laws , including the Hon'ble High Court of Gujarat and the Hon'ble National Company Law Tribunal.
( Please study the rulings given in the case of compulsory and selective cancellation of shares by Cadbury India Limited )
As we are CAVEATORS , please do keep us updated of all the legal moves by the Company in this regard.
Regards
Share Holder
email ;-
--------------------------------------------------------------------------------
Email address of Nirma :-
info@nirma.co.
---------------------------------------------------------------------------------------------
Nirma EGM- Shareholders Force Voting - Ballot Results Tomorrow
We have received Reports ( which please RECHECK independently - no responsibility with us ) that :-
EGM- 23-07-13 - for compulsory acquisition of Non Promoter shares was stormy.
Shareholders asked for
1 ) Cancellation of this anti shareholder move.
2 ) challenged the Valuation Report
3 ) Decided to oppose the Move in the Hon'ble High Court of Gujarat ( on the lines of Cadbury India and Shakti Metdor cases)
Ultimately , voting was held ( ballot system )
Results are expected to be declared tomorrow.
-------------------------------------
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3
BLOG DISCLAIMER : PLEASE RECHECK ALL INFORMATION. NO RESPONSIBILITY WITH BLOG
EGM- 23-07-13 - for compulsory acquisition of Non Promoter shares was stormy.
Shareholders asked for
1 ) Cancellation of this anti shareholder move.
2 ) challenged the Valuation Report
3 ) Decided to oppose the Move in the Hon'ble High Court of Gujarat ( on the lines of Cadbury India and Shakti Metdor cases)
Ultimately , voting was held ( ballot system )
Results are expected to be declared tomorrow.
-------------------------------------
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3
BLOG DISCLAIMER : PLEASE RECHECK ALL INFORMATION. NO RESPONSIBILITY WITH BLOG
------------------------------------------------------
May 29, 2013
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
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
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
---------------------------------------------------------------------------------------------------------------------
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
-----------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3
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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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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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 )
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
========================
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 )
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
========================
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 )
=============================
LINK
March 22, 2013
Nirma Limited
Board of Directors
Dr. KK Patel - Chairman
Rakesh K Patel - Vice Chairman
Hiren K Patel - Managing Director
Kalpesh A Patel- Executive Director
Shrenikbhai K Lalbhai
Pankaj R Patel
Rajendra D Shah
Chinubhai R Shah
Kaushikbhai N Patel
Registered Office
Nirma House
Ashram Road
Ahmedabad 380 009
RTA
Sharepro Services ( India ) P Limited
Mumbai-72
Incorporated : Around 1981
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
Current Promoter Holding : 94 : 82 %
Last Financial Year Extended to 30- 09-12 ( 18 months )
Financials ( 01-04-11 to 30- 10-12 ( 18 Months )
Consolidated Standalone
Sales Rs 8586 crore Rs.6828 cr
Gross Profit ( EBIDTA )
Rs.1193 cr Rs.964 cr
Depreciation and Amortisation
Rs. 481 cr Rs.426 cr
Net Profit
Rs. 51 cr Net LOSS -Rs. 61Cr
Dividend : NIL
AGM on 25-03-13 at Ahmedabad
Balance Sheet ( as on 30-09-12 )
Equity Capital Rs. 115 crore 50 Lakh ( Face Value Rs. 5 Per Share )
Reserves : Rs.Rs. 2691 Cr
Long Term Borrowings : Rs.Rs.1399 Cr
Short Term Borrowings Rs.Rs. 1203 Cr
For Directors'Report ( 2011-12 )
http://economictimes.indiatimes.com/nirma-ltd/directorsreport/companyid-10565.cms
Official Website
http://www.nirma.co.in/
For History :-
http://www.kotaksecurities.com/stock-market-news/equity/5003/Nirma-Ltd.-company-history/12510004.00
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http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.html
------------------------------------------------------------------------------------------------
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 . )
Dr. KK Patel - Chairman
Rakesh K Patel - Vice Chairman
Hiren K Patel - Managing Director
Kalpesh A Patel- Executive Director
Shrenikbhai K Lalbhai
Pankaj R Patel
Rajendra D Shah
Chinubhai R Shah
Kaushikbhai N Patel
Registered Office
Nirma House
Ashram Road
Ahmedabad 380 009
RTA
Sharepro Services ( India ) P Limited
Mumbai-72
Incorporated : Around 1981
Delisted
wef :28-03-2012
Exit Offer : Rs. 260 ( for Rs. 5 Paid Up Share )
Exit Window Closed on 03-10-2012
Current Promoter Holding : 94 : 82 %
Last Financial Year Extended to 30- 09-12 ( 18 months )
Financials ( 01-04-11 to 30- 10-12 ( 18 Months )
Consolidated Standalone
Sales Rs 8586 crore Rs.6828 cr
Gross Profit ( EBIDTA )
Rs.1193 cr Rs.964 cr
Depreciation and Amortisation
Rs. 481 cr Rs.426 cr
Net Profit
Rs. 51 cr Net LOSS -Rs. 61Cr
Dividend : NIL
AGM on 25-03-13 at Ahmedabad
Balance Sheet ( as on 30-09-12 )
Equity Capital Rs. 115 crore 50 Lakh ( Face Value Rs. 5 Per Share )
Reserves : Rs.Rs. 2691 Cr
Long Term Borrowings : Rs.Rs.1399 Cr
Short Term Borrowings Rs.Rs. 1203 Cr
For Directors'Report ( 2011-12 )
http://economictimes.indiatimes.com/nirma-ltd/directorsreport/companyid-10565.cms
Official Website
http://www.nirma.co.in/
For History :-
http://www.kotaksecurities.com/stock-market-news/equity/5003/Nirma-Ltd.-company-history/12510004.00
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http://www.rareindianshares.info/2013/04/nirma-drops-move-to-consolidate-face.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 )
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 )
------------------------------------------------------------------------------------
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 . )
All those who attempt to forcibly buy out small shareholders ( at their own dictated rates as Valuations are done by their own appointees ) should follow Don Corleone ( GODFATHER )'s dictum
ReplyDelete" MAKE HIM ( i.e. Shareholders ) AN OFFER THAT HE CANNOT REFUSE '