Philips India Compulsory Buy back - Investors Protest

please read

https://timesofindia.indiatimes.com/business/india-business/philips-india-to-scrap-22-3l-scripsminority-shareholders-up-in-arms/articleshow/63979479.cms?

Blog Credit to

Ram Manohara Reddy M

mrmreddy@outlook.com

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old posts

March 21, 2018

Philips India- Compulsory Buy Back @ Rs.560

Philips India Limited has convened an EGM on 10/04/2018 at Kolkata to compulsorily buy out the remaining Non Promoter shareholders @ Rs. 560 /-

This " fair value " has been worked out by Price Waterhouse and Co. LLP

Philips India delisted in 2004.

It , now , has around 37,500 Non Promoter shareholders representing 3:87 % of Equity.

for more

http://www.rareindianshares.info/2018/03/philips-india-compulsory-buy-back-rs560.html

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Please read

http://www.rareindianshares.info/2018/05/macrofil-investments-of-renowned-bombay.html

February 14, 2018

Games Promoters Play ( on Minority Public Shareholders ).

Promoters use clever moves to forcibly eject Public shareholders when ever they feel like i.e. when the Company has excellent future prospects or when it suits the Promoters. 

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 and Paid by the Company. Thus they are Promoters' Agents.

for more

http://www.rareindianshares.info/2018/02/games-promoters-play-on-minority-public.html 

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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 a Company / its Valuers 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 

for more

http://www.rareindianshares.info/2013/05/shakti-met-dor-compulsory-acquisition.html

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old posts

May 08, 2018

Macrofil Investments-- Holdings Worth

please click

https://trendlyne.com/portfolio/superstar-shareholders/custom/?query=macrofil%20investments%20limited

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old posts

May 02, 2018

Macrofil Investments of Renowned Bombay Dyeing Group Ejects Small Shareholders

at a fraction of Intrinsic Value ( NAV )

It is following the cheap trick of consolidating the face value from Rs. 10 to Rs.5000 to dump Unwanted investors.

Then only the Promotes would remain and Non Promoters' forced  fractions would be compulsorily bought at a very low rate.

October 08, 2017

Macrofil Investments - Fair Valuation Rs.10,000/- Demanded by Shareholders

Please study this notice

file:///C:/Documents%20and%20Settings/admin/My%20Documents/Downloads/EGM%20NoticeMacrofil%20(2).pdf
.
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Public shareholders want a price of Rs. 10,000 ( for Rs. 10 paid up share ) as the market value of shares National Peroxide ( one third equity is with Macrofil Investments ) more than tripled in the last one year.




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blog comments ; consult thass18@legalserviceindia.com

Old Post

October 04, 2017

Macrofil Case Latest- Govt Must Ban All Share Consolidations to Higher Denominations

Consolidation of Face Value to a Higher Denomination SHOULD NOT BE ALLOWED UNDER ANY CIRCUMSTANCE.

March 22, 2017

Share Face Value Consolidation to Higher Value should be Banned

This Cheap / Anti Small Holder Tactic was earlier used by

Binani Metals

http://www.rareindianshares.info/2011/01/binani-metals-limited-why-face-value.html

http://www.rareindianshares.info/2009/06/binani-metals-limited.html

Recently , by Rasoi Limited

http://www.rareindianshares.info/search?q=rasoi

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Now , by Digvijay Finlease ( Unlisted )

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Latest Case : Macrofil Investments Limited ( Unlisted )

Macrofil Investments is Asset Laden on a Small Share Capital of Rs. 44 Lakh .

Macrofil Investments holds , inter alia , around 33 % of Blue Chip Nusli Wadia Group Company- National Peroxide Ltd.

Share Value of National Peroxide has Tripled in the last One Year

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Please , also , click 

http://www.rareindianshares.info/2017/10/macrofil-investments-share.html

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Copy of Letter sent ( Speed Post ) to Macrofil Investments ( Tel 022-2207-0700 ) 

Dear Sirs ,

   Sub : Consolidation of Face Value to Rs. 5000 - Our Objection

1 ) We are shareholders , for the past many years , of Macrofil Investments.

2 ) From the 34 th Annual Report ( which was despatched very late by you ) received by Courier on 03/10 / 2017 , we learnt  of a NCLT petition for consolidation of Face Value to Rs. 5000 from the current Rs. 10

3 ) This move is a clever ploy by the Promoters ( Wadias ) to Compulsorily  eject Non Promoter Public shareholders at a Throwaway Price   because there has been in the recent past a sharp upward movement in the Share rates of , inter alia ,National Peroxide and Bombay Dyeing , these being the sizable investment of Macrofil Investments ,

3 ) Split to a Lower Face Value is acceptable and Permissible but not to a higher Denomination , especially if the whole exercise is being conducted with the Hidden Agenda of throwing out Loyal Non Promoter shareholders at a fraction of the intrinsic ( NAV ) of the share of Macrofil Investments.

4 ) Further . the whole exercise is illegal and not Maintainable because :-

a) The AGM Notice for the 34 th AGM was received by us on 03/10/2017 ( Couriers- Professional Couriers -Receipt No. KUR- 514641444 ) .The AGM was held earlier on 28/09/2017. This is contrary to the provisions of The Companies Act 2013 which mandates receipt by shareholders 21 days prior to the Meeting.  

b ) No Notice of the alleged EGM dt.18/07/17 was ever received by us .

So , please withdraw this Consolidation exercise.

With regards ,

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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

( NB : All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog . )

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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 ) ----------------- Saadda Haq , Ethey Rakh

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also , please click

Philips India Compulsory Buy back - Investors Protest

http://www.rareindianshares.info/2018/05/philips-india-compulsory-buy-back.html

and

May 02, 2018

UTV Software to Compulsorily Eject Loyal Remaining Public Shareholders

http://www.rareindianshares.info/2018/05/utv-software-to-compulsorily-eject.html