Suashish Diamonds to Kick Out Loyal Remainder Public Share holders

Suashish Diamonds Delisted in June  2014 at the Exit price of Rs. 242  per Share ( Face Value Rs.10 ).


http://www.rareindianshares.info/2013/05/suashish-diamonds-delisting-is-exit.html

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Suashish Diamonds is holding an EGM on 05/01/2016 at Mumbai

Now , Suashish Diamonds  intends to compulsorily eject the remainder 1204  loyal small shareholders ( Total shareholders 1217 ) by following the cheap trick of increasing the face value of one share from Rs. 10 paid up to Rs. One Lakh paid up.

http://suashish.com/pdf/EGMNotice.pdf

Promoter Ashish R. Goenka holds 99: 06 % of shares.

As Suashish Diamonds  , now, unlisted , the resultant fractions have been arbitrarily valued at Rs. 242 ( for Rs.10 paid up shares ) ( same at the Exit price determined 2 years back.

 This is totally unacceptable and is sheer loot. 

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The Valuers etc are all engaged by the Managements and cannot be considered as Unbiased or totally Fair. Affected shareholders should be allowed to have their own valuers / Valuation Reports. 

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SEBI must intervene. Laws must be changed to protect the small share holders of Unlisted Companies.

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Same anti small shareholder trick by Promoters of MNC Bosch Chassis ( Kalyani Brakes ) and real estate laden Jolly Boards.

Please Click :-

http://www.rareindianshares.info/2015/12/bosch-chassis-to-oust-loyal-remainder.html

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http://www.financialexpress.com/article/markets/indian-markets/companies-shareholders-must-find-common-ground-on-exit-strategies/133280/

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