Wadhwani ji put up a strenuous legal fight and won the case for public shareholders in the Appeal filed by him in the NCLAT
God Bless Wadhwani Ji
For NCLAT order , please lick ;-
https://drive.google.com/file/d/1kHtmXGTJoefWO-w5nUdtPreQJ0HDqQcw/view?usp=share_link
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BLOG-OLD-POSTS - For Informational Purpose Only
November 15, 2016
Reed Relays @ Rs.107-Compulsory Buy Back- Shareholders Protest
THE NAME IS REED RELAYS AND ELECTRONICS INDIA LIMITED
THEY HAVE SENT THE POSTAL FORM THROUGH SPEED POST FOR PASSING THE RESOLUTION FOR COMPULSORY EXTINGUISHED THE SHARES OF MINORITY SHARE HOLDERS @ 107/-
PLEASE KNOW THE FACT
B.V 350+
DIVIDEND PAYING (FOR THE YEAR 15-16 DIVIDEND PAID RS. 1.6
SMALL EQUITY OF JUST RS. 1 ODD CRORE
PLEASE GUIDE ME AS I DONT WANT TO SURRENDER THE SHARES @ 107/-
TUSHAR S AGARWAL
AHMEDABAD
M# 09824601977
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NEW POSTs
November 17, 2016
Sheer Loot - Experts Say of Reed Relay Compulsory Buyback @ Rs.107
Letter by a Shareholder to the Company :-
Dear Sir:
I have received your postal Ballot
Notice regarding compulsory acquisition of non-promoter shareholdings.
In this connection the proposal seems to me a dishonest, illegal and
criminal proposal for illegal enrichment at the cost of the non-promoter
shareholders who have believed in your entrepreneurship and invested in
your Company by going through your published Balance Sheet of several
years. Till date we were not aware that you had criminal and illegal
intentions to cheat the shareholders of your own company. We were under
the impression that the promoters are all people of high ethics,
morality, equity and fair. However the dark side of you has come out
openly through this compulsory acquisition proposal which I am sure will
be a black mark for you for generations to come.
Your reasoning for the compulsory
acqusition as mentioned in the explanatory statement in the garb of
SEBI guidelines etc are all deliberate falsehood with ulterior motives
of personal enrichment. In the process it is distressing to see two
professionals 1) P. Pattabiraman and Co. Chartered Accountants and 2)
Mr. Adit N. Bhuva, Practising Company Secretary are also colluding with
you for your illegal proposal.
The proposal raises fundamental
questions of investments in Securities of Public Limited Companies by
investors and the way in which corporate governance are handled by
fraudulent promoters like you. The systematic mis-use of SEBI
guidelines, misuse of the name of High Court, Companies 2013 etc.in your proposal are a big challenge.
I have decided to take up the matter
with appropriate legal forums to see that you are prevented from going
ahead with this proposal.
In the meanwhile you are requested to
kindly forward me a copy of valuation report of P. Pattabiramen &
Co, Chartered Accountants who has determined a fair value of the shares.
P P Zibi jose
Shareholder
I have received your postal Ballot
Notice regarding compulsory acquisition of non-promoter shareholdings.
In this connection the proposal seems to me a dishonest, illegal and
criminal proposal for illegal enrichment at the cost of the non-promoter
shareholders who have believed in your entrepreneurship and invested in
your Company by going through your published Balance Sheet of several
years. Till date we were not aware that you had criminal and illegal
intentions to cheat the shareholders of your own company. We were under
the impression that the promoters are all people of high ethics,
morality, equity and fair. However the dark side of you has come out
openly through this compulsory acquisition proposal which I am sure will
be a black mark for you for generations to come.
Your reasoning for the compulsory
acqusition as mentioned in the explanatory statement in the garb of
SEBI guidelines etc are all deliberate falsehood with ulterior motives
of personal enrichment. In the process it is distressing to see two
professionals 1) P. Pattabiraman and Co. Chartered Accountants and 2)
Mr. Adit N. Bhuva, Practising Company Secretary are also colluding with
you for your illegal proposal.
The proposal raises fundamental
questions of investments in Securities of Public Limited Companies by
investors and the way in which corporate governance are handled by
fraudulent promoters like you. The systematic mis-use of SEBI
guidelines, misuse of the name of High Court, Companies 2013 etc.in your proposal are a big challenge.
I have decided to take up the matter
with appropriate legal forums to see that you are prevented from going
ahead with this proposal.
In the meanwhile you are requested to
kindly forward me a copy of valuation report of P. Pattabiramen &
Co, Chartered Accountants who has determined a fair value of the shares.
P P Zibi jose
Shareholder
=========================
As per my view fair value is above 400.
Dhruval Shah
(M)- 9898150967/8000133721(whatsup)
Mail id :- shahdhruval15@gmail.com
Reed
relays& electronics India ltd proposing to Cancel Non Promoter
Holding @ 107 per share. Very Unfair Treatment to minority shareholders.
Book Value Rs 345
Cash and Bank Balance Per Share Rs 210
Dilip Surana
Mobile 09840278351
Mobile 09840278351
-----------------------.
Reed Relay - Shareholders Unite to Get Cancelled @ Compulsory Acuisition
I would like to invite Share holders of Reed Relay though this EFFECTIVE PLATFORM to protest against the company
I am holding just 212 shares and that to purchased not at very high price but to protect other shareholders and to protest AGAINST THE DADAGIRI OF THE PROMOTERS.
" I REQUEST THE SHAREHOLDERS TO VOTE THROUGH THE ELECTRONIC MEDIA ONLY i.e. though evoting only. Because it may happen that promoters intentionally do not put entry of the ballot in the inward register, may ask the post man not to deliver the same before the expiry date, may ,may , do any thing as they like . but if the same is done through " EVOTING" we have perfect record officially on the website .
i have yesterday voted through the evoting platform and is very easy to use the same.
IT IS MR. NARENDRA MODI WHO HAS PUT A SURGICAL STRIKE AGAINST THE BLACK MONEY NOW IT IS OUR TURN TO PUT SURGICAL STRIKE AGAINST THE GREEDY AND CHEATER PROMOTER WHO HAS USED OUR MONEY TO FLOURISH THE COMPANY AND WHEN THERE INTENTION IS OVER THEY THREW AWAY LIKE ANY THING.
JAGO SHARE HOLDER JAGO.
JAI HIND.
THANKS & REGARDS,
TUSHAR S AGARWAL
AHMEDABAD
M# 09824601977
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old post
November 18, 2016
Compulsory Buyback - Bad in Law - Are Anti Public Shareholders - Reed Relays Latest
OPPOSE COMPULSORY BUY BACK OF SHARES
Delisting may be OK .
But forced cancellation of Minority shares is not done even in Capitalism
Capitalism means Demand and Supply.
If the Majority wants
the Minority 's shares then , to Quote from Mario Puzo 's Godfather " "
They should make an offer we cannot refuse "
. Let them approach us and buy at a mutually agreeable price but not at a Dictated Price.
Free will transactions are the essence of Capitalism .
Delisting may be OK .
But forced cancellation of Minority shares is not done even in Capitalism
Capitalism means Demand and Supply.
If the Majority wants
the Minority 's shares then , to Quote from Mario Puzo 's Godfather " "
They should make an offer we cannot refuse "
. Let them approach us and buy at a mutually agreeable price but not at a Dictated Price.
Free will transactions are the essence of Capitalism .
Thanks wadhwanijee
ReplyDeleteNow Approx what the amount we are going to get