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De Merger Business
Posted by :
mylo
A shareholder of Reliance Industries has moved the Supreme Court seeking compensation of around Rs 20 lakh from the company for failing to transfer in her name 25 shares she had bought in 1994.
In her appeal before the Supreme Court, Neera Maheshwari, has sought damages from RIL and Hyderabad-based brokerage firm Karvi Consultants at the rate of Rs 500 per day with 18 per cent interest between November 1994 and February 2003 claiming she suffered huge loss due to non-availability of share certificates.
The matter reached the apex court in 2006 after her appeal was dismissed by the National Consumer Dispute Redressal Commission on the grounds that a consumer court did not have power to award compensation for such cases.
A Bench headed by Chief Justice K G Balakrishnan has asked parties to file counter affidavits and posted the matter for hearing in January next year.
Maheshwari`s appeal was dismissed in February 2008 for non-appearance but was restored by the court earlier this year.
However, RIL has submitted that the complaintant held 100 shares in the erstwhile Reliance Polyethylene Ltd (RPL) which was merged with the parent company in 1995.
Consequently, 100 RPL shares were converted into 25 RIL scrips and the certificates were allotted to the complainant in 1995 itself, RIL said.
However, the company said that the amount was not credited and the conversion of shares of the complainant was kept in abeyance due to non-confirmation of Stock Invest Application.
Besides, RIL said that Maheshwari`s grievance had been redressed and claimed that the complaint was devoid of merit and liable to be dismissed with costs.
It stated that Section 10 of the Companies Act prohibited filing of the case against a company in any court other than the court within local jurisdiction of the registered office of the company.
Maheshwari had moved the district forum seeking damages and Rs 30,000 towards cost of litigation from RIL for failing to get share certificates, bonus certificates and dividend within the prescribed period of three months as required under Section 53 of the Companies Act.
While the district forum refused relief to Maheshwari, the state consumer forum penalised RIL by directing it to pay Rs 500 per day for not transferring the shares within the statutory period and held its guilty of deficiency in service....
RMWL
Posted by :
vibhasbhattWhere is RMWL?? No information!...
De Merger Business
Posted by : tara23first promoters, after that if any timely action is taken then investors tooo....
De Merger Business
Posted by : Gopinathcog1You mean, no benefits for retail investors or small investors.. Is it only to promoters..?...
De Merger Business
Posted by : tara23
you are right... demerger will give good returns for the promoters/stake holders after every one forgets about the demerger. it will become a long term bet.. in my view...
...
De Merger Business
Posted by : Gopinathcog1
Hi Tara23,
As you said, now its De Merger series happening across the sectors or companies.
As far as i know, Merger is something like postive to the script and De Merger is negative in terms of movement in scripts.
If the company is involved in demerging activity, then obviously the momentum in the script will slow down as happening to Adlabs (but not completely).
Even after the de merged script(s) listing then stocks may give slow movement but that negative impact will be for few weeks or months only right..?
Pls correct me if iam wrong.
Once the momentum got into the hand os the scripts, we will be having 2X quantity instead of X quantity had earlier... I see this is an positive impact to the investors in the view of minimum 4/5 months.
Pls share me ur views...
Thanks in advance...
...
Query Regarding RMWL
Posted by : Gopinathcog1
No Idea..:(
Lets us see the outcome of AGM happened on Sep 30. Till now, no updates on AGM outcome..
Wait for few more days......
Query Regarding RMWL
Posted by : elamani2011? or 2012?...
Query Regarding RMWL
Posted by :
hemant_a1111
Dear All,
Can anybody tell when RMWL will get listed ?...
right issue
Posted by : nitin6570
ny news regardin record date and ratio for right issue .
and how can we apply for same ...
NSE Announcements on Adlabs Films
Posted by : MMB MessengerAdlabs Films Limited has informed the Exchange regarding the outcome of Annual General Meeting held on September 30, 2009. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Adlabs Films
Posted by : MMB MessengerAdlabs Films Ltd has informed BSE that the 22nd Annual General Meeting (AGM) of the Company was held on September 30, 2009....
Add some selected scripts to your Investment Portfolio:
Posted by : jalunm
Add some selected scripts to your Investment Portfolio:
I would like to follow my GURU Mr. Warren Buffet:
"It`s far better to buy a wonderful company at a fair price than a fair company at a wonderful price".
Investment mean at least to hold more than a year to two (bear in mind)
I do not suggest for penny day traders only for investors.
Judgment is yours only recommendation are below:
Script Code :
BARTRONICS -------TGT 360 --------Time frame (1 to 1.6 year)
VITLINFO ---------- TGT 36 to 60 -------------Time frame (6 months to 1.6 years)
IDBI Bank --------- TGT 200 -------------------Time frame (1 year)
Mahindra Satyam -------TGT 300-----------Time frame (2 to 3 years)
IBN18----------------------TGT 200------------Time frame (1 to 1.6 years)
KSK Energy -------------TGT 300 -----------Time frame (1 to 1.6 years)
Enjoy Investing:
Jalu
jalunm@yahoo.co. in
jalunm.blogspot.c om...
right issue date
Posted by : Guestis date of rigth issue come???...
Rights Issue...
Posted by : tara23
yes pitquote,
that was the reason they get u into the trap of `free credit card` lifetime concept, to charge wherever and whenever they want to...
...
