April 02, 2013

Nirma Drops Move to Consolidate Face Value to Rs.50,000 Per Share

Small Shareholders of the Delisted  FMCG  Company , Nirma Limited  ,have welcomed the cancelling of the grossly  Anti Small Shareholder move to Reverse Split ( Consolidate the Face Value of One Share from Rs. 5 Per Share to Rs. 50,000 Per Share ) by issuing one Share of Rs. 50,000 for every 10,000 shares.

Such a move is  a under hand  Compulsory acquisition of shares from small shareholders.

For this Nirma Limited Resolution , please click :-

{ Please do read the highly arrogant ( Anti Non Promoter shareholder mindset ) and illogical Justification - given for this Shameful move in the EXPLANATORY STATEMENT in the Agenda circulated .}



Nirma Compulsory Buy Back- Shareholders to Oppose Tooth And Nail Shareholders of Nirma Limited are determined to oppose vehemently Nirma Limited 's anti small shareholder move to compulsorily buy back non promoters shares @ Rs. 225 ( Rs 5 Paid ). AGM at Ahmedabad on 23/07/13 , 11 AM Shareholders are writing their opposition by sending letters , Regd Post , to the Compliance Officer. Later , legal action ( like with Cadbury India and Shakti Metdor would be undertaken )

A few years ago, asset laden and listed company Binani Metals Limited , had in a similar move made a Reverse Split ( consolidation from Rs. 100 Face Value to Rs. 1000 Per Share ) thus making a compulsory Buy Back ( at very Low Rates ) from Small Share holders and of Custodian of Enemy Properties Shareholders ( now in Pakistan ).

Binani Metals Limited ( exclusively listed at Calcutta Stock Exchange ) is the only Listed Share in India to have a Face Value of Rs.1000 /- !!

For Binani Metals Reverse Split, please Click :-





uly 06, 2013

Nirma Compulsory Acquisition of Non Promoters Details

Total Number of Non Promoter Shares  : 7439704 shares - Rs. 5 Paid  ( 4 :68 % )

No. of Non Promoter :Shareholders :41,619 

Reason given in EGM Notice ( for 23/ 07 / 13 -11 AM , Ahmedabad ) as to why Promoters ' shares are excluded from compulsory capital reduction is that these Share holders have given their consent to RETAIN their shares ( Page 3 - Explanatory Statement  , Second Last Para ).

So , the legal position may be that all those shareholders ( Promoter or Non Promoter ) who give their consent to retain their shares would be excluded from this compulsory acquisition / cancellation of shares . 

NB: Send this letter , also , in hard copy by Regd. Post / Speed Post

Nirma Limited - Compulsory Buy Back- Letter to Compliance Officer

From :-                                                                       Dated:- 04-07-2013

To ,

The Compliance Officer ,
Nirma Limited,
Nirma House, Ashram Road,
Ahmedabad - 380009

Dear Sir ,

With due respect , we state as under :-

1 ) We hold shares of your Company under L/f : ( A/c - ).

 2 ) The move to compulsory acquire shares selectively from the remaining share holders @ Rs. 225 Per Share is unrealistic and  unacceptable to us .

3) The compulsory buy-back rate of Rs.225/- is grossly unfair to the remaining public share holders as the rate at the time of Delisting was Rs. 260. Instead of increasing the Rate , it has been decreased

3 ) In case our name ( , L/ f  ) figures in your list of shares for Compulsory Cancellation , then  , please remove it - from the list ,under intimation to us (  by Registered post / Speed Post ).

4 ) We request you to withdraw this anti Non - Promoter move in its entirety .

5 ) PIease, also dispatch a certified copy of the valuation report.

6) In case, the Company persists , then we would be left with no other remedy but to challenge the same in appropriate Court of Laws  , including the Hon'ble High Court of Gujarat and the Hon'ble National Company Law Tribunal.

( Please study the rulings given in the case of compulsory and selective  cancellation of shares by Cadbury India Limited )

As we are CAVEATORS , please do keep us updated of all the legal moves by the Company in this regard.


Share Holder

email ;-


Email address of Nirma :-


Disclosure :- Blog Writer holds in his name / family members shares of Nirma limited  ( less than 10,000 shares ) and Binani Metals Limited  


Rajan Shah said...

While I understand that Gordon Gekko had said that greed is good, the foolish minority shareholder take the things little too far.

A 99% owner of the company has right to full control albeit fairly, so any such proposal is a welcome move.

It is improper that learned Ashwini Agarwal will spread such fallacious thoughts

Rohit Bansal said...

He is under delusion that by writing some stupid mails on this website and sending them to company can actually work.

His continuous foolishness has already made investor poor since he has repeatedly endorsed the view that Bharat Nidhi is work Rs One Lac per share.

Ashwani Kumar Aggarwal said...

We never promoted Bharat Nidhi / PNB Finance.