First Equity shares were compulsorily converted to Preference shares.
Now Preference shares compulsorily redeemed at Rs. 233 / 66 p per share.
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General Warning : Investment in Shares Can be Injurious to Your WEALTH
Disclosure : The Blog writer in his / family names had holdings in ECE Industries Ltd . So please make suitable " provisions " for any likely Over Optimism
NB :All information given in good faith. Please recheck every point before taking an investment decision.No responsibility with this blog / blog writer
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OLD POSTS
This is totally unacceptable .
The Valuers etc are all engaged by the Managements and cannot be considered as Unbiased or totally Fair. Affected shareholders should be allowed to have their own valuers / Valuation Reports.
=====================
SEBI must intervene. Laws must be changed to protect the small share holders of Unlisted Companies.
http://smartinvestor.business-standard.com/market/story-335029-storydet-Bosch_firm_squeezes_minority_holders.htm
http://www.financialexpress.com/article/markets/indian-markets/companies-shareholders-must-find-common-ground-on-exit-strategies/133280/
=============
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.
--------------------------
OLD POSTS
Jolly Board , which holds very valuable real estate assets in Kanjur Marg , Mumabi , is also following similar cheap tactic to oust loyal remainder small shareholders.
http://www.rareindianshares.info/2015/11/jolly-board-consolidates-face-value-to.html
========
Suashish Diamonds does the same anti shareholders move :-
http://www.rareindianshares.info/2015/12/suashish-diamonds-to-kick-out-loyal.html
================
Blog Disclaimer : Please Recheck All Information . All information given in Good Faith. No Responsibility .
=========
For further case studies vis - a - vis small shareholders , please consider the following links :-
-----------------
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 Fomento Resorts Limited
feels that Rs166 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
.
===================================
===================================
The Valuers etc are all engaged by the Managements and cannot be considered as Unbiased or totally Fair. Affected shareholders should be allowed to have their own valuers / Valuation Reports.
=====================
SEBI must intervene. Laws must be changed to protect the small share holders of Unlisted Companies.
http://smartinvestor.business-standard.com/market/story-335029-storydet-Bosch_firm_squeezes_minority_holders.htm
http://www.financialexpress.com/article/markets/indian-markets/companies-shareholders-must-find-common-ground-on-exit-strategies/133280/
=============
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.
--------------------------
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 FCI OEN Connectors Limited feels that Rs.767 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
Jolly Board , which holds very valuable real estate assets in Kanjur Marg , Mumabi , is also following similar cheap tactic to oust loyal remainder small shareholders.
http://www.rareindianshares.info/2015/11/jolly-board-consolidates-face-value-to.html
========
Suashish Diamonds does the same anti shareholders move :-
http://www.rareindianshares.info/2015/12/suashish-diamonds-to-kick-out-loyal.html
================
Blog Disclaimer : Please Recheck All Information . All information given in Good Faith. No Responsibility .
=========
For further case studies vis - a - vis small shareholders , please consider the following links :-
LINK
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