In a landmark move the Hon'ble Regional Director opposed in NCLT for the Selective Reduction of Capital.
Last hearing of HSBC InvestDitect in NCLT was on 01/07/2019.
Investors should , also , oppose this move in NCLT and all such moves in future by taking up the issue with the concerned Regional Director and the concerned NCLT.
August 17, 2018
HSBC InvestDirect to Kick Out Remaining Public Shareholders
at 21 st AGM on 17/09/18, at 12 Noon at Mumbai
Affected Shareholders to Oppose Tooth and Nail as
HSBC InvestDirect (formerly known as IL&FS Investsmart Limited) delisted in 2010 @ Rs. 400
Games Promoters Play ( on Minority Public Shareholders ).
Promoters use clever moves to forcibly eject Public shareholders when ever they feel like i.e. when the Company has excellent future prospects or when it suits the Promoters.
1 ) Selective cancellation of Non Promoters shares.
2 ) Conversion of Equity shares in to Redeemable Preference Shares.
3 ) Consolidation of face value of one share to a Higher Denomination .
In all cases , valuers are appointed and Paid by the Company. Thus they are Promoters' Agents.
FCI OEN Connectors-Compulsory Buyback at Fraction Value
Real Valuation is Rs. 4000 + /- per share .
This anti Public shareholder move needs to be vigorously opposed
We are grateful to Mr. PP Zibi Jose of
for taking up the issue
Please click below for the entire fact sheet letter brilliantly written by Mr. Jose.
Ban All Face Value Consolidations to Higher Denominations
Consolidation to a Higher Denomination was done by Binani Metals, Rasoi Limited , attempted by Digvijay Finlease ( later withdrawn under Public shareholders' pressure ) and , now, being attempted ( but opposed by shareholders ) of Macrofil Investments Ltd ( a Nusli Wadia Company ).
Macrofil Investments is an Investment Holding Company of Nusli Wadia group ( Bombay Dyeing, Britannia , Bombay Burmah , National Peroxide etc ).
Marofil Investments holds ( on a very small capital base of Rs.44 Lakh ) inter alia one third of National Peroxides' Equity.
In the last one year Market price of shares of National Peroxide has gone up from Rs. 600 to Rs.2000.
Macrofil Investments has , very cleverly , devised a plan to consolidate face value of one share from Rs. 10 to Rs. 5000.
All the Non Promoter shareholders would be evicted.
The rate set is around Rs. 3400 per share. This has been worked out by Valuers appointed and paid by Macrofil Investments.
The realistic rate should be Rs. 10,000 + ( for Rs.10 share ).
Share Activism is a step in the Right Direction. There is , always , a threat of oppression by the Majority shareholders ( Promoters )on Minority ( Public ) shareholders.
October 13, 2017
Blog's old posts
Till date, the most powerful tool in the hands of minority shareholders has been bringing a suit for oppression and
mismanagement, said Suhail Nathani, managing partner, Economic Law Practice. "Under the 2013 Companies Act,
Section 245, over 100 shareholders can also file a class action suit but its application and enforcement is still nascent,"
December 08, 2010
Asset Laden Holding / Investment Companies- Promoters Uninterested in True Value Unlocking
Now , instead of genuinely sharing the wealth with all the stakeholders , non promoter minority share holders of original holding companies are treated by Promoters as UNWANTED , like poor relatives at a rich cousin's marriage party.
September 05, 2017
Justice Demanded by Small Investors From Asset Laden Investment Holding Companies - ET Link
please click the link
JAB APNA HISSA MANGEY GEY
IK BAGH NAHI; IKK KHET NAHIN
HUM SAARI DUNIYA MANGEY GEY
( Josh Malihabadi )
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