Macrofil Investments Kicks Out Loyal Public Shareholders

 Compulsory Acquisition , using devious means of consolidation of face value from Rs. 10 paid to Rs 5000 paid.

Arbitrary and grossly under valued rate of Rs. 3400 per Rs 10 share

Payment sent and Shares Cancelled 

No Relief from NCLT 

For NCLT order in PDF , please click ;-

https://www.google.com/search?client=firefox-b-d&q=nclt+macrofil+

 

IN THE NATIONAL COMPANY LAW TRIBUNAL ... - NCLT

nclt.gov.in › sites › default › files › Feb-final-orders-pdf

PDF

Macrofil Investments Limited. Neville House, J. N. Heredia. Marg, Ballard Estate, Mumbai –. 400 001 … Petitioner Company. Order delivered on:17.06.20.

 

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OLD POST

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