Dalmia Bharat Refractories to Transfer Business to Subsidary- Shareholders Plan Legal Action Against Transfer

  https://www.bseindia.com/xml-data/corpfiling/AttachLive/62279cca-2887-4e68-a632-bd1def8d9c23.pdf

For the Notice of Transfer of all business to wholly owned subsidiary please click ;-

https://www.msei.in/ListingData/2022/DALMIARF/AN/221118_DALMIARF_AN_01.pdf 

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At the time of recent merger of Dalmia Refractories with Dalmia Bharat Refractories , Promoters had dropped this transfer move.

It was on their assurance that their would be no transfer of assets to a step down subsidiary that the shareholders approved the merger.

There is no provision of such transfer in NCLT Chennai's order.

After getting the merger through ,Dalmia Bharat Refractories have again initiated this merger move.

Shareholders are taking the issue with SEBI .  NCLT Chennai ,Metropolitan Stock Exchange and Calcutta Stock Exchange

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Blog Credit to ;-

 Mr. Vijay, Jalandhar , m 7009409142

himanshusoi478@gmail.com

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 Blog Comments

OLD POST - PRE MERGER

 

OLD  POST  

 

April 07, 2021

Dalmia Refractories - Victory For Public Shareholders- Fresh Date to be Announced

Shareholders thank the Management  for Revising the Terms of Merger

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1 . 

Please refer to Para 1 Page 1 of the Intimation letter  dt. 05/04/2021

 As demanded by Public shareholders , Dalmia Refractories have dropped the move to transfer the entire business of the merged manufacturing entity  Dalmia Bharat Refractories Limited to its  Subsidiary Company namely Dalmia OCL Limited i.e. DOL.

THIS MEANS THAT THE MERGED ENTITY  DALMIA BHARAT REFRACTORIES LTD WOULD NOT BECOME MERELY A HOLDING CO. 

DALMIA BHARAT REFRACTORIES LTD WOULD BE THE FINAL MANUFACTURING CO.

SHARES OF DALMIA BHARAT REFRACTORIES LTD WOULD BE LISTED .

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2 .

BSE Listing to be CONSIDERED 

Please refer to Para  6 ;7 of  Page no. 22 of the Revised Scheme attached with  Intimation Letter dt . 05/04/2021

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Fresh Date of NCLT CONVENED Meeting to be Announced

Please refer to Last Para , Page 2 of Intimation Letter dt. 05/04/2021

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DOWN LOAD intimation letter / revised Scheme 

First click ;-

https://www.msei.in/markets/equity/get-quotes/default?symbol=DALMIAREF&series=EQ

Then for PDF Download 

 
Disclosure U/R 30 Of SEBI (LODR) Regulations 2015
06-Apr-2021

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Congratulations to Shareholders 

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 Credit for information / Blog Gratitude to ;

Himanshu Soi  

himanshusoi478@gmail.com

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OLD POST- 

NOW RELEVANT ONLY FOR INFORMATIONAL  PURPOSES

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Shareholders of Dalmia Refractories should vote in favour of the merger as . it appears , this would lead to better market rate of their shares .

BUT THEY SHOULD DEMAND FOLLOWING AMENDMENTS / CHANGES

1 They should demand that the Merged New Company Dalmia Bharat Refractories Limited i.e. DBRL must be listed in NSE / BSE . The current provision of listing of the  Merged New Company in Metropolitan Stock Exchange and Calcutta Stock Exchanges is meaningless as both Metropolitan Stock Exchange and Calcutta Stock Exchanges do not have any Equity Trading .

2 . As per the current / circulated Scheme  the merged operations of Dalmia Refractories and OCL Refractories would first come under Dalmia Bharat  Refractories Limited- DBRL and then there would be a  TRANSFER of the entire business to DBRL's Subsidiary Company namely Dalmia OCL Limited i.e. DOL

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IMPORTANT IMPLICATIONS

A.  Thus Dalmia Bharat Refractories Limited i.e. DBRL would become ONLY a HOLDING company.

B .Current Shareholders of Dalmia Refractories are getting shares of Dalmia Bharat Refractories Limited i.e. DBRL 

  C- Only Dalmia Bharat Refractories Limited i.e. DBRL i.e. Holding Company 's shares would be listed

THERE SHOULD BE NO TRANSFER OF ANY BUSINESS TO  DALMIA OCL LIMITED 

THIS LAST PART OF THE TRANSFER SHOULD BE DROPPED FROM THE WHOLE SCHEME

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Making the Listed  Dalmia Bharat Refractories Limited i.e. DBRL only a HOLDING COMPANY is not in the interest of Non Promoter Shareholders .

It may be suiting the Promoters 

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Steps to be taken by Dalmia Refractories shareholders;-

FIRST --PLEASE REGISTER YOURSELF WITH YOUR WITH YOUR OBJECTIONS BETWEEN 07/04/2021 - 9 AM TO 09/04/2021 - 5 PM

For full procedure 

Page 6 ,Point 24 , Sub point 5 of PDF Notice 

For PDF Notice first click ;-

https://www.msei.in/markets/equity/get-quotes/default?symbol=DALMIAREF&series=EQ

Type Dalmia Refractories Limited 

then for Download please click ;-

 Notice
15-Mar-2021

then 

click on Notice of Meeting For  Shareholders on page 2  ----
Page 6 ,Point 24 , Sub point 5 of PDF Notice 

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Video Court Meeting 

20/04/2021 10M

E Voting from  12 /04 /21 - 9 AM TO 19/04/201 5 PM

PLEASE VOTE IN FAVOUR OF THE SCHEME 

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For COMPLETE MERGER SCHEME  PDF Notice first click ;-

https://www.msei.in/markets/equity/get-quotes/default?symbol=DALMIAREF&series=EQ

 

Type Dalmia Refractories Limited 

then for Download please click ;-

 Notice
15-Mar-2021

then 

click on Notice of Meeting For  Shareholders on page 2

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OLD POST

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January 28, 2020

Dalmia Refractories Merger Update

Dalmia Refractories Limited informed to the Exchange regarding update with respect to Scheme of Amalgamation and Arrangement amongst Dalmia Refractories Limited and GSB Refractories India Private Limited and Sri Dhandauthapani Mines and Minerals Limited and Ascension Commercio Private Limited and their respective Shareholders and Creditors.

https://www.msei.in/ListingData/2020/DALMIAREF/AN/200103_DALMIAREF_AN_01.pdf


It appears some shares of Dalmia Refractories are available with Dealers of Rare Indian Shares  (Please Recheck this ).

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

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

NB :All information given in good faith. Please recheck every point before taking any investment decision. No responsibility with this Blog or Blog Writer.