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https://www.bloombergquint.com/business/2017/10/12/billionaires-taken-to-task-by-rise-of-india-s-minority-investors
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Blog's old posts
Till date, the most powerful tool in the hands of minority shareholders has been bringing a suit for oppression and
mismanagement, said Suhail Nathani, managing partner, Economic Law Practice. "Under the 2013 Companies Act,
Section 245, over 100 shareholders can also file a class action suit but its application and enforcement is still nascent,"
he said.
Read more at:
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September 05, 2017
Justice Demanded by Small Investors From Asset Laden Investment Holding Companies - ET Link
please click the link
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Unifi Capital - official site
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blog comments
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December 08, 2010
Asset Laden Holding / 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 by Promoters as UNWANTED , like poor relatives at a rich cousin's marriage party.
Now , instead of genuinely sharing the wealth with all the stakeholders , non promoter minority share holders of original holding companies are treated by Promoters as UNWANTED , like poor relatives at a rich cousin's marriage party.
for more , please click
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We sincerely hope that some one takes up the case of Digvijay Finlease compulsory consolidation @ Rs.200 for a Rs.10 paid up share , which some calculate ( Please Recheck this ) to have an intrinsic worth of around Rs. 40,000 per Rs. 10 share ( Please Recheck this )
Will the Promoters sell their shares to Investors at the same rate of Rs.200 per share ?
http://www.rareindianshares.info/2017/09/digvijay-finlease-date-extended-to.html
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July 30, 2017
Support Shareholders Activism in Alembic Ltd
Promoters of Indian Companies should stop taking their minority shareholders for granted.
Public Shareholders should put up their Directors of Publicly Held Companies
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Alembic Ltd. Case as reported in Business Standard
The law provides for 1,000 small shareholders to come together and agree on one individual to represent their concerns on a company’s board.
"The fact that this provision has never been tested shows how daunting it is for 1,000 people to agree on something," Reddy added.
Public Shareholders should put up their Directors of Publicly Held Companies
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Alembic Ltd. Case as reported in Business Standard
The law provides for 1,000 small shareholders to come together and agree on one individual to represent their concerns on a company’s board.
"The fact that this provision has never been tested shows how daunting it is for 1,000 people to agree on something," Reddy added.
for more , please click
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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 )
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Saadda Haq , Ethey Rakh
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October 09, 2017
Reed Relays-Aggrieved Shareholders Mounting Counter Offer For Promoters' Shares
Public Shareholders are up in arms against the Promoters ploy to forcibly acquire Non Promoters' shares at a very low rate.
They are mounting a Counter Offer to acquire Reed Relays Promoters' shares at a premium to the price offered by the Promoters.
It appears that there would soon be a new Management Team.
M/s Reed Relays Victims Committee (an Association of Persons i.e. AOP )may come into being which would initiate legal steps
A Co-ordinator is to be appointed.
Volunteers are most welcome .
Please come forward.
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ctober 07, 2017
Reed Relays Cancels Public Shares @ Rs.107- Shareholders Aggreived
Blog Gratitude to :-
Mahendra G. Wadhwani,
501-506 Business Plaza,
33 Gazdar Bandh Road,
Santacruz (West), Mumbai - 400 054
Mob.: 09820140363 / 9322530308
for mailing a copy of Hon'ble NCLT Chennai Order dt. 04/10/2017, Order No.CP 21 / 66 ( 1 ) / CB / 2017 , under Section 66 ( 1 ) of The Companies Act 2013.
The operative part of the Judgement is that Hon'ble NCLT has accepted Reed Relays ' case in totality . Shares of Non Promoters would be compulsorily cancelled @ Rs. 107 ( as determined by valuers appointed by Reed Relays.
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The Blog wishes to place on record the spirited objection put up by the leading Share Dealer of Chennai , Dilip Surana .
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.
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
"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
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We wish more such Pro Public, Pro Active Shareholders Guides come forward,
Great Work : Mr. Dilip Surana
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please , also read
September 19, 2017
Blog Comments
Shareholders should not give up . Resources should be contributed ( Contri ). An Appeal should be filed
with and an Interim Stay applied for
National Company Law Appellate Tribunal
http://compat.nic.in/
Grounds of Appeal
Hon'ble NCLT has erred in observing that NCLT cannot increase the price of compulsory acquisition . It can as was done by the Hon'ble Hiigh Court of Bombay in the case of Cadbury.
please click
Grounds of Appeal
Hon'ble NCLT has erred in observing that NCLT cannot increase the price of compulsory acquisition . It can as was done by the Hon'ble Hiigh Court of Bombay in the case of Cadbury.
As per Hon,ble Bombay High Court , aggrieved shareholders can seek Court's permission to appoint their own valuers.
Company's Valuers are selected / paid by the Company. So, they can be biased.
please click
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Blog Comments Please consult
thass18@legalserviceindia.com
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Blog Comments Please consult
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Share Activism is a step in the Right Direction. There is , always , a threat of oppression by the Majority shareholders ( Promoters )on Minority ( Public ) shareholders.
ReplyDeletePromoters use clever moves to forcibly eject Public shareholders.
1 ) Selective cancellation of Non Promoters shares.
2 ) Conversion of Equity shares in to Redeemable Preference Shares.
3 ) Consolidation of face value of one share to a Higher Denomination .
In all cases , valuers are appointed by the Company.
Whereas Split of the face value of one share to a Lower denomination should be allowed ,Consolidation to a Higher Denomination should be absolutely banned by SEBI.
Consolidation to a Higher Denomination was one by Binani Metals, Rasoi Limited , attempted by Digvijy Finlease and , now, being attempted ( but opposed by shareholders ) of Macrofil Investments Ltd ( a Nusli Wadia Company )
ReplyDeleteMacrofil Investments is an Investment Holding Company of Nusli Wadia group ( Bombay Dyeing, Britannia , Bombay Burmah , National Peroxide etc ).
Marofil Investments holds ( on a very small capital base of Rs.44 Lakh ) inter alia one third of National Peroxides' Equity.
In the last one year Market price of shares of National Peroxide has gone up from Rs. 600 to Rs.2000.
Macrofil Investments has , very cleverly , devised a plan to consolidate face value of one share from Rs. 10 to Rs. 5000.
All the Non Promoter shareholders would be evicted.
The rate set is around Rs. 3400 per share. This has been worked out by Valuers appointed and paid by Macrofil.
The realistic rare should br Rs. 10,000 + ( for Rs.10 share )
Sir I was allotted the Fresenius kabi oncologyltdshare in 1994 original Dabur ltd later 2003 pharma unit DEMERGE and 500 Dabur Pharma and 2008 name changed by acquiring Fresenius kabi oncology ltd and in 2013 delisting of Rs.130-140 price share and in 2020 my share cancelled mere 29200 and also taxable in our hands being paid dividend.The company is cheating this minority share holder having 97.03% shares with them. Our tax liability is only capital gain but co shown in dividend.
ReplyDelete