1 ) Binani Cement ( taken over by Ultratech Cement )
2 ) Vardhman Industries ( taken over by JSW Steel )
So , it is highly likely , that in future nearly all the Public shareholders of Companies under proceedings of Insolvency and Bankruptcy Board of India have little chance of getting any thing at all .
Blog Caution : Please do not take any Investment Decision based on the above conjecture .
Vardhman Industries case
Vardhman Inds Shares Cancelled - No Value
Since the liquidation value payable to the existing shareholders of VIL as determined under regulation 35 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 after paying off dues in the order of priority as defined under section 53 of the Insolvency and Bankruptcy Code, 2016 is nil, the entire existing shareholding of the Company shall stand reduced to nil by way of a capital reduction with effect from the Effective Date.
Binani Cement Case