January 13, 2020

Avery India Kicks Out Remaining Loyal Shareholders

Avery India delisted in 2013.



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. 

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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 :-


LINK


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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

1 comment:

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