March 13, 2015

Sulzer India Kicks Out Shareholders Without Court Order

Sulzer India Delisted in 2010 at the Discovered Price of Rs. 1180/-

http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=346978

http://www.delisting.in/uploads/public_announcement/8462Sulzer%20India%20Ltd_P.%20A.pdf

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Now ,Sulzer India deserves First Prize for the Unique way to throw out Loyal Minority Shareholders THAT TOO WITHOUT GOING THROUGH A HIGH COURT ORDER.

In an alleged EGM ( we received no Notice ) Dt. 21/11/2014 face value of One Equity Share was CONSOLIDATE from Rs. 10 each to Rs. 100000  ( Ten Thousand  times ).

Share holders ( all except Promoters ) 9999 or less shares became holders of FRACTIONAL SHARES and were compulsorily paid Rs. 908 /- per shares vide RTA 's letter Dt. 28/02/2015 under the signature of one TRUSTEE named Shrikrishna Korde..

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How did this Trustee work out the rate of Rs. 908/- per Share ? When the Discovered Price during Delisting RBB ( Reverse Book Building ) was Rs. 1180 per Share

Who Bought the Shares ?

A thorough Enquiry by SEBI and others is Requested in this Extra Clever / Scandalous TRICK. 

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http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.html

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

Caution :The blog writer HAD 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 . )


2 comments:

ZeeNut said...

This trick has been played by managements time & again ..... this is why it makes no sense to stay on after the party has ended :-(

ZeeNut said...

This trick has been played by managements time & again ..... this is why it makes no sense to stay on after the party has ended :-(