OLD POST
Valuers Should be Fair / Honest
CA s, Valuers , NCLT Professionals Should be Fair / Honest
https://www.bloombergquint.com/business/2018/03/20/ultratech-will-fight-off-a-web-of-litigation-to-buy-binani-cement-exclusive
https://www.moneycontrol.com/news/business/binani-cement-resolution-professional-alleges-fraud-by-company-promoters-2532775.html
Any hint of dishonesty / underhand considerations hurt the Ordinary / Public shareholders who depend entirely on Audited Balance sheets and " fair " prices worked out by "Independent Valuers.
Such "Professionals ' are selected only by the Promoters and can be partial.
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other posts
March 21, 2018
February 21, 2018
Binani Cement Undervalued in NCLT Say Promoters
In a filing at the National Company Law Tribunal, Kolkata, Binani Industries has
also said the resolution professional appointed for the company,
Vijaykumar Iyer, and Deloitte, have vested interests in undervaluing the
company so that they can give their “favourite bidder” the company.“It
appears the valuation done by the resolution professional is absolutely
wrong on account of valuers being misled by the RP, who has a personal
interest in undervaluing the corporate debtor (Binani Cement),”
credit / for more please click
http://www.business-standard.com/article/companies/insolvency-binani-industries-questions-cement-arm-s-bidding-process-118022100002_1.html
credit / for more please click
http://www.business-standard.com/article/companies/insolvency-binani-industries-questions-cement-arm-s-bidding-process-118022100002_1.html
old post
February 14, 2018
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.
------------------
March 20, 2018
Binani Cement Bid- Make Non Promoter Shareholders a Party
https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/ultratech-googly-puts-dalmia-binani-lenders-on-backfoot/articleshow/6337376
Binani Cement delisted in 2011 at the Exit price of Rs 90 /-
We continue to hold on to our shares of Binani Cement.
Our interests should be considered at the the NCLT proceedings. We should be made a Party to the legal proceedings.
Between Dalmia Bharat and Ultratech we support that Company which offers us more ( market value wise ) shares of their own company in lieu of our Binani Cement shares.
===========
Also please read :-
Compulsory Buyback / Capital Reduction - Bad in Law - Are Anti Public Shareholders - Reed Relays Latest
For Reliance Retail , please click ;-
---------
NEW POST
July 12, 2023
Reliance Retail shares Compulsory Cancellation , Deja Vu --Farm Enterprises 's Case
Earlier
, Unlisted Equity shares of Reliance Enterprises were converted into
Unlisted Optionally Convertible Preference shares of Farm Enterprises
ltd.
Most
of the shareholders could not exercise their Right to convert their
Preference shares of Farm Enterprises into its Equity shares.
The big question is ; Who was allotted the lapsed Equity Rights and at what rate ?
For more , please click ;-
Now , the case of compulsory cancellation of Unlisted shares of Reliance Retail at a rate determined by Promoters .
For more , please click ;-
Blog Disclaimer
PLEASE RECHECK ALL FACTS INDEPENDENTLY ALSO.
PLEASE RECHECK ALL FACTS INDEPENDENTLY ALSO.
.PLEASE DO A FURTHER SELF STUDY
---------------
old post
February 14, 2018
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.
--------------------------
HUM MEHNAT KASH ISS DUNIYA SE
JAB APNA HISSA MANGEY GEY
IK BAGH NAHI; IKK KHET NAHIN
HUM SAARI DUNIYA MANGEY GEY
( Josh Malihabadi )
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