It is very surprising that despite opposition from minority shareholders of Cadbury India, Shakti MetDor, Nirma etc to proposals for Compulsory Buy back , yet another MNC , Denso India( formerly SRF Nippon Denso ) has proposed Compulsory Buy Back of Minority- Non Promoter Shareholders by approaching Delhi High Court.
In the AGM dt. 23/09/2014 Resolution No. 8 for this Compulsory Buy Back
Highlights of the Compulsory Buy back
1 ) Same price of Rs. 145 as was paid to those who voluntarily tendered their shares.
2 ) While Minority Shareholders are to be thrown out compulsorily there is going to be preferential allotment to Promoters
3 ) In the Explanatory Statement this compulsory extinguish of shares is being projected as being in the interests of those shareholders who shares are to be compulsorily cancelled as if a favour is being done to them.
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IT IS THE SHAREHOLDERS WHO CAN BEST DECIDE WHETHER IT IS IN THEIR INTEREST TO HOLD SHARES OR SELL THEM .THE MANAGEMENT OF DENSO INDIA CANNOT TELL THEM WHAT TO DO.
http://www.rareindianshares.info/2011/01/cadbury-india-limited.html
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Oppose All Forcible Cancellation of Non Promoter Shares
All those who attempt to forcibly buy out small shareholders ( at their own dictated rates as Valuations are done by their own appointees ) should , instead ,follow Don Corleone ( GODFATHER )'s dictum
" MAKE HIM ( i.e. Shareholders ) AN OFFER THAT HE
" MAKE HIM ( i.e. Shareholders ) AN OFFER THAT HE
CANNOT REFUSE '
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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 .
( All comments / facts given in good faith. Please recheck all points before taking any investment decision. No responsibility with this blog / writer )
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