September 21, 2016

Justice Wanted -NBI Industrial Finance - Misdeclaration Regarding LISTING Status Annual Report 2015-16
For Annual Report , 2015-16 , please click :-
NBI Industrial Finance is holding its 81 st AGM on 24/09/2016 .

In the Annual Report 2015-16 circulated among shareholders , there is a serious lapse.

On Page , the Directors signing the Report , on 30/05/2016 , have declared that the SHARES of NBI Industrial Finance are LISTED.


A  shareholder ,  took up the matter with Management by Emails , Speed Post , .Courier


Copies of Our Correspondence / Replies Received


Dated : 15/09/2016  
Time : 11 :50 AM 

To , The Compliance Officer,

NBI Industrial Finance Limited,

21, Strand Road , Kolkata


Dear Sir ,

With due respect , we state the following :-

We are shareholders of NBI Industrial Finance

Before we vote for Resolution No. 1 ( Annual Report 2015 -16 ) , please clarify the following Declaration made in the Annual Report 2015-16

Page 14

Form MGT -9

Serial No. VI

Column : Whether Listed Company - Declaration YES

Declaration Signed by Directors on 30 /05 /2016


Please clarify how this declaration has been made when the shares of NBI Industrial Finance are not Listed in any Stock Exchange.

Please provide this clarification at the earliest

Please do acknowledge this email.


Dated : 15/09/2016  
Time : 11 :50 AM 

Please Click TO ENLARGE


NBI 's Reply , dt. 16/09/2016

Sorry, it was a printing error. The Company is not listed. It has applied for listing, which application is pending at the Stock Exchange.

Team NBI


Shareholder's Rejoinder Dt. 16/09/2016

With due respect , we state the following :-

1 ) We acknowledge the receipt of your message.

2 ) Declaration / Misdeclaration by Directors ( amounting to Perjury ) signing the Annual Report 2015-16 regarding Listing status is a major issue which cannot be put under the carpet by merely blaming the Printers 

Listing is an important issue per se for the shareholders but most important for Income Tax issues.\

Whether a share is Listed or Unlisted determines the calculation of Long Term Capital gains Tax. 

So , Ministry of Finance , Govt. of India is also an interested Party in this Declaration / Misdeclaration by the Board of Directors. 

 3 ) Please recirculate the amended Annual Report ( 2015 -16 ) with fresh timings for E voting etc.

4 ) Please postpone the AGM set for 24/09/2016 giving minimum time , between the despatch of Annual Report ( amended ) and holding of the AGM , as  stipulated in The Companies Act etc.

We look forward to your co-operation and compliance in the matter.

On 15/09/2016 your Fax ( No. 033-22131650 ) was not working. 

Please do email us once your Fax No. becomes operational.

Thanking you ,

With regards ,


NBI ' Reply dt. 21/09/16

The Directors of the Company in their Report to the shareholders under the para "Listing Agreement" on page no.7 have clarified the status of listing. Hence there is no misdeclaration. The mistake on page no.14 was an inadvertent error which has been corrected thru issue of corrigendum in the newpaper and is regretted.

We hope we have clarified the matter.


Shareholder's Rejoinder Dt. 21/ 09/2016

We acknowledge your message.

The Management has to follow the rules . Even on Page 7 there is no clarity on the Listing status.. 

Kindly provide details of the News paper  " corrigendum "



Blog Comments 

NBI Industrial Finance has been flouting SEBI Directives for  ( 1 ) either Relisting at BSE / NSE  ( or 2 ) Delist by giving shareholders a Fair Value 

For More , please click :-


NBI Industrial Finance - Contact Details :-

NBI Industrial Finance Limited

Address :-

21 , Strand Road, Kolkata

email :-

Phones :  033-22309601-04

Fax : 033-22131650

More :-


Shareholders of NBI Industrial Finance feel that they should get a fair value for their shares , which has been calculated around Rs. 30,000 a share

More at :-



( Josh Malihabadi )


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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