February 17, 2017

Compulsory Back Back of Shares- Violates Fundamental Right to Equality

.

Regarding the moves , earlier of Cadbury India Limited , others and , latest, by Piramal Glass :-


Compulsory Buy Back of Shares ( selectively from minority Non promoter Share holders ) is violative  of Fundamental Right of Equality enshrined in the Constitution of India

Such a move creates two separate and unequal classes of Shareholders , i.e. Promoter Share Holders and Non Promoter Share Holders .

Please read this very informative Post :-


=============
This is a very dangerous trend and Investors must unite and fight against these compulsory  selective.extinguishing  of Non Promoters ' shares .

Only those companies whose Promoters feel that future prospects are very bright go in for compulsory buy back.

No company with  a dark future goes in for Buy Back.Then they let the shares  remain with Non Promoters.
===================



Investment in shares is like the playing cards game of Flash " Teen Patti " . Promoters have seen their cards. Non Promoter / Public Shareholders are Playing "BLIND "


===============

Acquisition rates are arbitrary as so called valuers are partial and do only the bidding of the Promoters.
-----------

OPPOSE ALL 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 .

----------------

Piramal Glass Kicks Out Loyal Remainder Public Shareholders


Piramal Glass ( earlier named Gujarat Glass )is the latest  to follow the example of Cadbury India, in compulsorily buying back the shares of Non Promoter remaining Loyal shareholders .


The payment made is @ Rs. 275 Share

In this case no High Court Order has been taken but " confirmation " by National Company Law Tribunal ( NCLT , Mumbai )

---------------

old post


January 18, 2011



Cadbury India Limited

We salute all those share holders of Cadbury India who are steadfastly giving their time and money in pursuing the High Court case against compulsory acquisition of shares from remaining minority share holders.

There are around 8,159 remaining non promoter shareholders who together own 2.42% stake in Cadbury India.

We strongly feel that Government of India and SEBI should amend the laws so that Companies using their " brute majority " are not able to " compulsorily " buy out minority shareholders at what they perceive to be the " fair value " . Delisting may be OK . But a High Court Order for selective share reduction ( of Non Promoter Share holders ) is a different matter altogether.

 1 ) If a company wishes to buy back compulsorily then in the voting procedure the majority holder ( promoter ) should be debarred from voting . Only the small share holders should have the Right to vote on that particular Resolution .

2 ) As in the case of land acquisition , the Company should state valid reasons for acquisition of remaining shares ( In Cadbury 's case the remaining 2 odd  % share holders can , frankly , in no way alter  the Company 's policies.)  Only a few more Annual Reports are to be despatched and a few more chairs at the AGM .  ( Cadbury India Limited 's shares were delisted w.e.f  20-01-2003 )

3 ) There should be a soletium  ( a premium over and above the fair value to compensate for compulsory buy out ) of 50 %

If the Company feels that the rate it is offering is " FAIR " then it should , also , be willing to offer to sell its entire majority  holding at that rate . The minority share holders ( and other Indian share holders ) should have a Right of Pre emption at that " FAIR " rate. For example if Cadbury India Limited feels that Rs.2000 is a " fair rate " then Indian shareholders in general should be given an opportunity to form a SPV ( Special Purpose Vehicle ) Company which ( with suitable debt equity Leveraged Buy out ) and buy  at the same rate  the majority shares from the Promoters. A period of 6 months should be kept for giving this opportunity to Non Promoter Indian shareholders

However , we  sincerely wish that Cadbury India Limited offers its remaining loyal share holders " Kuchh Meetha " and in New Year 's " Shubh Arambh " withdraws this move.
-----------------------------------------------------------------------------

.

--------------------Regarding Compulsory Cancellation of Shares Moves  by

Cadbury India Limited 

Shakti Met-Dor Limited  ((subsidiary of German giant Hormann Beteilgungs Gmbh )

----------------------------------------------------------------------------------------------------------------------------------

.
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.htmlhttp://www.suchetadalal.com/?id=175202d7-a5ce-be2f-492fe1477460&base=sub_sections_content&f&t=Essar%27s+Delisted+Saga

 http://www.business-standard.com/india/news/cadbury-raises-buyback-price/421719/

 http://www.moneycontrol.com/news/business/why-didn39t-you-give-fin-projections-to-ey-hc-asks-cadbury_562074.html

http://seekingalpha.com/news-article/1520805-cadbury-kraft-india-one-of-fastest-growing-operations-for-kraft-globally

http://rareindianshares.blogspot.com/2011/01/cadbury-quit-india.html

http://www.gauravblog.com/?p=1277

http://www.kraftfoodscompany.com/in/en/Brands/index.aspx

http://www.rareindianshares.info/2012/07/ecellent.html

http://altaisadvisors.com/blog/2012/07/08/cadbury-india/comment-page-1/#comment-1517

http://www.rareindianshares.info/2012/11/cadbury-india-or-mondelez-international.html
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3


-----------
HUM MEHNAT KASH ISS DUNIYA SE

JAB APNA HISSA MANGEY GEY

IK BAGH NAHI; IKK KHET NAHIN

HUM SAARI DUNIYA MANGEY GEY

( Josh Malihabadi )
-----------------

Saadda Haq , Ethey Rakh

Piramal Glass Kicks Out Loyal Remainder Public Shareholders


Piramal Glass ( earlier named Gujarat Glass )is the latest  to follow the example of Cadbury India, in compulsorily buying back the shares of Non Promoter remaining Loyal shareholders .


The payment made is @ Rs. 275 Share

In this case no High Court Order has been taken but " confirmation " by National Company Law Tribunal ( NCLT , Mumbai )

This is a very dangerous trend and Investors must unite and fight against these compulsory  selective.extinguishing  of Non Promoters ' shares .

Only those companies whose Promoters feel that future prospects are very bright go in for compulsory buy back.

No company with a dark future goes in for Buy Back.Then they let the shares  remain with Non Promoters.
===================

Investment in shares is like the playing cards game of Flash " Teen Patti " . Promoters have seen their cards. Non Promoter / Public Shareholders are Playing "BLIND "
===============

Acquisition rates are arbitrary as so called valuers are partial and do only the bidding of the Promoters.

--------------------------------------------------
.

Piramal Glass ( Gujarat Glass ) Delisted wef 28/07/2014



=================

OPPOSE ALL 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 .

---------------------------------------------------

January 18, 2011


Cadbury India Limited

We salute all those share holders of Cadbury India who are steadfastly giving their time and money in pursuing the High Court case against compulsory acquisition of shares from remaining minority share holders.

There are around 8,159 remaining non promoter shareholders who together own 2.42% stake in Cadbury India.

We strongly feel that Government of India and SEBI should amend the laws so that Companies using their " brute majority " are not able to " compulsorily " buy out minority shareholders at what they perceive to be the " fair value " . Delisting may be OK . But a High Court Order for selective share reduction ( of Non Promoter Share holders ) is a different matter altogether.

 1 ) If a company wishes to buy back compulsorily then in the voting procedure the majority holder ( promoter ) should be debarred from voting . Only the small share holders should have the Right to vote on that particular Resolution .

2 ) As in the case of land acquisition , the Company should state valid reasons for acquisition of remaining shares ( In Cadbury 's case the remaining 2 odd  % share holders can , frankly , in no way alter  the Company 's policies.)  Only a few more Annual Reports are to be despatched and a few more chairs at the AGM .  ( Cadbury India Limited 's shares were delisted w.e.f  20-01-2003 )

3 ) There should be a soletium  ( a premium over and above the fair value to compensate for compulsory buy out ) of 50 %

If the Company feels that the rate it is offering is " FAIR " then it should , also , be willing to offer to sell its entire majority  holding at that rate . The minority share holders ( and other Indian share holders ) should have a Right of Pre emption at that " FAIR " rate. For example if Cadbury India Limited feels that Rs.2000 is a " fair rate " then Indian shareholders in general should be given an opportunity to form a SPV ( Special Purpose Vehicle ) Company which ( with suitable debt equity Leveraged Buy out ) and buy  at the same rate  the majority shares from the Promoters. A period of 6 months should be kept for giving this opportunity to Non Promoter Indian shareholders

However , we  sincerely wish that Cadbury India Limited offers its remaining loyal share holders " Kuchh Meetha " and in New Year 's " Shubh Arambh " withdraws this move.
-----------------------------------------------------------------------------

Compulsory Back Back of Shares- Violates Fundamental Right to Equality

Regarding the move , earlier of Cadbury India Limited and , now , by Shakti Met-Dor Limited :-


Compulsory Buy Back of Shares ( selectively from minority Non promoter Share holders ) is violative  of Fundamental Right of Equality enshrined in the Constitution of India

Such a move creates two separate and unequal classes of Shareholders , i.e. Promoter Share Holders and Non Promoter Share Holders .

Please read this very informative Post :-

http://www.legalservicesindia.com/article/article/squeeze-out-of-minority-shareholders-1503-1.html

-----------------------------------------------------------------------------------------------------------


For Shakti Met-Dor , please click :-

http://www.rareindianshares.info/2013/05/shakti-met-dor-compulsory-acquisition.html
--------------------Regarding Compulsory Cancellation of Shares Moves  by

Cadbury India Limited 

Shakti Met-Dor Limited  ((subsidiary of German giant Hormann Beteilgungs Gmbh )

----------------------------------------------------------------------------------------------------------------------------------
.
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.htmlhttp://www.suchetadalal.com/?id=175202d7-a5ce-be2f-492fe1477460&base=sub_sections_content&f&t=Essar%27s+Delisted+Saga

 http://www.business-standard.com/india/news/cadbury-raises-buyback-price/421719/

 http://www.moneycontrol.com/news/business/why-didn39t-you-give-fin-projections-to-ey-hc-asks-cadbury_562074.html

http://seekingalpha.com/news-article/1520805-cadbury-kraft-india-one-of-fastest-growing-operations-for-kraft-globally

http://rareindianshares.blogspot.com/2011/01/cadbury-quit-india.html

http://www.gauravblog.com/?p=1277

http://www.kraftfoodscompany.com/in/en/Brands/index.aspx

http://www.rareindianshares.info/2012/07/ecellent.html

http://altaisadvisors.com/blog/2012/07/08/cadbury-india/comment-page-1/#comment-1517

http://www.rareindianshares.info/2012/11/cadbury-india-or-mondelez-international.html
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3

-----------------------


HUM MEHNAT KASH ISS DUNIYA SE

JAB APNA HISSA MANGEY GEY

IK BAGH NAHI; IKK KHET NAHIN

HUM SAARI DUNIYA MANGEY GEY

( Josh Malihabadi )
-----------------

Saadda Haq , Ethey Rakh

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

Disclosure : The Blog writer in his / family names had  holdings in this Company. So please make suitable " provisions " for any vested interest.

NB :All information given in good faith. Please recheck every point before taking any investment decision. No responsibility with this blog / blog writer.

Dilip Surana Buying Aruna Hotels, Sharat Sea, Kg Fabrics, Goodwill Housing , Others

We buy shares of following companies

Aruna hotels

Sharat sea food

Southern seafood  ( ssf Ltd)

Super star distilleries ( sdf industry)

Kg fabrics Ltd

Goodwill housing 


Send your offer 

Dilip 9840278351

----------

We want to buy up to 5 lakhs shares of  Metropolitan Stock Exchange ltd ( MCX SX).

Send your offer to 09840278351  dilipmsurana@gmail.com

============

Dealers of Rare Indian Shares 

ANIL GOEL
 MANISH 
9958006642

Sambhav Aggarwal
Arms Securities
Tel      : +919899131155
Email :contact@armssecurities.com
www.armssecurities.com

 NILESH KOTAK

08866004076 - Whatsapp also 



DHARAWAT

08108303330 or dharawat1@gmail.com


SANDIP GINODIA
9830271248
OPPOSITE HIND CINEMA, NEAR AXIS BANK
73a, GANESH CH AVENUE, 2ND FLOOR, KOLKATA-700013

Vipul Gandhi
Gandhi Associates
25 , New Jagnath , Saptabhumi Apt.,( G.F.)
Rajkot-360001
Tel 0281-3046757 /3057667
(m)  093755- 77007
email:   unquotedshares@rediffmail.co
Web : www.unquotedshares.co.in 

Dilip Surana
Strides Financial Services
"Arihant Plaza"
84-85,Wall Tax Road, Ist floor
Park Town, Above SBI
CHENNAI 600003
Phone No 044-25350312, 25350313
Fax No  044-42371148
Mobile 9840278351      95000 95121
dilipmsurana@gmail.com



Vikas Aggarwal 


 09314111189


IP Gupta ,( Faridabad )
Mobile - 9971104447, 9899220695, 8010266990
Ahmedabad-380013 
Email id -  sujakinvestment@gmail.com 
Cell 08905537733

3A CAPITAL SERVICES

Contact: 022-67809990
Toll Free: 1800 209 2929
Visit: www.3aindia.com


http://www.3aindia.com/


Tenrose Capital Services Ltd, Cochin

Tel - 0484- 2401685 ; 2401684 ( m ) 09388603877
                           

Pradeep Jain
Noida ( ALSO PHYSICAL SHARES OF LISTED COMPANIES )
098996-58800
098103-28467

Nirej V Paul, AKHIL SECURITIES | 3/D2, 2nd Floor | Saniya Plaza |
Near KSRTC Bus Stand | Cochin 35 | Kerala |
Office  : 0484 4032952, 6596725 |
Mobile : 09447577160 |



Integrated Fincap Pvt. Limited
 HO
1111 , Indraprakash ,
21 ,Barakhamba Road ,
 New Delhi-110001

Toll Free : 1800-111-110

Ph. :011-23351793 , 23357089
( m ) 098110 - 65464
  
VisionFINANCIAL Services ,
S 183, GK II,
New Delhi 110048

( m ) 099990-07345 - Keshav Goyal

email :

 visionshares@gmail.com


  TANYA
9871162597

KRUNAL B SHAH
CHAITYA FINANCIAL SERVICES
AHMEDABAD-9
M - 9825796997 www.physicalshares.in

Shreeji Investments , Ahmedabad

Bhavin Leua
(M / Whatsapp )9033476634 (contact preferably on whatsapp)

Kirit N Vaghela,
Himatnagar ( North Gujarat ) 
 M / Whats App No. 99240 61501

Dhruval shah - 8000133721/9898150967
Address:- shyamal cross road satellite ahmedabad 380015


Sagar Shah
 M:+9029470496/7666882458,

Sanket K Vaghela,

 Himatnagar  ( Gujarat )

( m ) 097374-28953

email : Sanket_vaghela123@yahoo.in


Investor Service Centre ,
Bangalore
080-26607090,26607058 (m) 078150-22551 . 078150-22552
email : Delist186@gmail.com

Harish Mittal 09867303077 vickey104@gmail.com

 Pankil Shah  veerajbroking@ymail.com 9898616232

Jay Shah Mumbai 09870879190 jay_shahgm@yahoo.com


FINWIZ SERVICES, Mumbai-Mobile: 8080160094



DEEPAK KUMAR CHENNAI 09840015715

Chirag share Consultants. Ahmedabad 
Whats up no.8153045144

PARDEEP TANTIA M-9873245550

Coolraj Sakhlecha

SAKHLECHASTOCK SERVICE
333 MINT ST.,
CHENNAI 600 001
CELL   09841557344
PH  -    04425388750.  email : coolrajs1970@yahoo.co.in

( List Incomplete - To be Expanded )