Avery India Kicks Out Remaining Loyal Shareholders

Avery India delisted in 2013.

https://www.business-standard.com/article/markets/uk-promoters-make-delisting-offer-for-avery-india-109061900165_1.html

Now , Avery India has compulsorily bought ( selective reduction of share capital route ) all the remaining Non Promoter shareholders @ Rs.276 / share.

A dividend distribution tax of Rs. 56/73p has been separately paid. 

Had there been no capital reduction this huge dividend distribution tax could have been saved . A sheer wastage of funds just to oust loyal Public shareholders .

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. 

Shares should be bought back only through Reverse Book Building.

Non Promoter shareholders have no faith in "Valuers ".

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

General Warning : Investment in Shares Can be Injurious to Your WEALTH

Disclosure : The Blog writer in his / family names had holdings in Avery India So please make suitable " provisions " for any likely Over Optimism

NB :All information given in good faith. Please recheck every point before taking an investment decision.No responsibility with this blog / blog writer

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OLD POSTS

April 12, 2019

Novopan Industries to Kick out Loyal Remainder Share Holders

Novopan Industries Delisted in 2014 at a Delisting Price of Rs.40 /-

Its Promoters have initiated the process of Compulsory Buying back of remaining shareholders  , by way of NCLT mandated Selected Capital Reduction 

 Share price has  been arbitrarily valued at Rs. 40 ( same at the Exit price determined 5 years back.

 This is totally unacceptable . 

Novopan Industries has very valuable land bank 


EGM for this purpose on 11/05/2019 at Hyderabad

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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. 

=====================

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

http://smartinvestor.business-standard.com/market/story-335029-storydet-Bosch_firm_squeezes_minority_holders.htm

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



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OLD POSTS
Jolly Board , which holds very valuable real estate assets in Kanjur Marg , Mumabi , is also following similar cheap tactic to oust loyal remainder small shareholders.

http://www.rareindianshares.info/2015/11/jolly-board-consolidates-face-value-to.html

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Suashish Diamonds does the same anti shareholders move :-

http://www.rareindianshares.info/2015/12/suashish-diamonds-to-kick-out-loyal.html

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Blog Disclaimer : Please Recheck  All Information . All information given in Good Faith. No Responsibility . 

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For further case studies  vis - a - vis small shareholders , please consider the following links :-

http://www.suchetadalal.com/?id=175202d7-a5ce-be2f-492fe1477460&base=sub_sections_content&f&t=Essar%27s+Delisted+Saga

 http://www.business-standard.com/india/news/cadbury-raises-buyback-price/421719/

 http://www.moneycontrol.com/news/business/why-didn39t-you-give-fin-projections-to-ey-hc-asks-cadbury_562074.html

http://seekingalpha.com/news-article/1520805-cadbury-kraft-india-one-of-fastest-growing-operations-for-kraft-globally

http://rareindianshares.blogspot.com/2011/01/cadbury-quit-india.html

http://www.gauravblog.com/?p=1277

http://www.kraftfoodscompany.com/in/en/Brands/index.aspx

http://www.rareindianshares.info/2012/07/ecellent.html

http://altaisadvisors.com/blog/2012/07/08/cadbury-india/comment-page-1/#comment-1517

http://www.rareindianshares.info/2012/11/cadbury-india-or-mondelez-international.html

LINK

http://www.rareindianshares.info/2011/01/cadbury-india-limited.html

http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3

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General Warning : Investment in Shares Can be Injurious to Your WEALTH

Disclosure : The Blog writer in his / family names has holdings in Novopan Industries. So please make suitable " provisions " for any likely Over Optimism

NB :All information given in good faith. Please recheck every point before taking an investment decision.No responsibility with this blog / blog writer