Stocks

`Anil entitled to be RIL VC if de-merger fails`.

Posted by : pyaretaj

NEW DELHI: Anil Ambani is legally entitled to be reinstated vice chairman of Reliance Industries Ltd (RIL) if its de-merger on the basis of the family pact fails, counsel for Reliance Natural Resources Ltd (RNRL) told the Supreme Court Wednesday.

The failure of the de-merger scheme also exposes RIL to the prospect of being wound up, said Ram Jethmalani, counsel for RNRL, while arguing before the three-member bench that is hearing the high-profile Krishna-Godavari gas dispute case.

"This will not be in the interests of millions of RIL shareholders ," the counsel told the bench of Chief Justice K.G. Balakrishnan, Justice B. Sudershan Reddy and Justice P. Sathasivam. "Under Section 392 of the Companies Act, if the scheme is not implemented, as envisaged, Anil Ambani is entitled to be reinstated in RIL board with full powers as existed before the July 27, 2004 board resolution." Prior to that, Anil Ambani was vice chairman, managing director and on the board of RIL.

The senior counsel said since Anil`s elder brother Mukesh is chairman of the company and its "alter ego" now, neither he nor the company were entitled to take the position that the family reorganisation pact was not known and take exemption from its liabilities. He said the RIL board resolution of July 27, 2004, virtually stripped Anil Ambani of all powers, status, honour and dignity while giving complete control to Mukesh Ambani. "This was the source of both anger and humiliation for Anil Ambani," he said.

"As promoter-director -- lifetime director -- Mukesh Ambani is not liable to retirement and does not require the resolution of shareholders," said Jethmalani. Accordingly, RIL cannot claim that the family business reorganisation pact brokered by Kokilaben, the widow of the empire`s founder Dhirubhai Ambani, between her two feuding sons, is not binding on the company. "The court has the power to supervise the scheme (of de-merger) which definitely ensures all hurdles are removed in the proper implementation of the scheme, particular those arising from dishonest conduct."

The three-member bench has been hearing the dispute over the supply of 28 million units of gas for 17 years at $2.34 per unit to Anil Ambani-led RNRL from the gas fields off the Andhra Pradesh coast, awarded to Mukesh Ambani`s RIL. The price, tenure and quantity were based on the 2005 family pact, but RIL subsequently said it could only sell the gas for $4.20 per unit, as this was the price, the company claimed, fixed by the government.

The Bombay High Court had earlier ruled in RNRL`s favour.

HIDDEN GEM

Posted by : retrobroker

volume breakout is evident.....expect this to breach 47 in the next few trading sessions and make new highs in december

Book profit and do`t enter in this stock

Posted by : shareviews

In simple words I can tell you that this stock is expected to move ahead and reach 1500 in 2-3 months. Ofcouse risky one, but worth holding for long term.

Heading

Posted by : gopifinance

Mr. Guest kindly do not mislead the investors. Please see the shareholding pattern carefully. Now the FII shareholding pattern has been placed under Trusr share holding. I have seen you writing different opinions in the same name to confuse people. Why ? Lets educate investors instead of confusing them. Wait and see what happens to this stock. IT IS GOING TO BE A TRUE MULTIBAGGER. If you are confident of what you are saying kindly exit this script gracefully. I will only enter this scrip more & more because i am confident of what i am saying. Again i feel that this kind of oppurtunity is very rare one should only grab it. But as i said earlier one has to do their own analysis before investing.

Q:Why Satyam is going down ? A:Law of gravity

Posted by : bathulavb

Even though you are a good high jumper , you can`t escape the law of gravity.

I was posted this message on July 21. I am once again posting this ,not to say , I am great . It is a learning process.

21 Jul 2009 02:11 Mahindra Satyam reasonably priced around Rs85


Posted by : bathulavb View full thread (1 messages)
Tracked by: 0 Boarder
In my opinion MS reasonably priced around Rs85. This is my understanding.
Feb 2009 estimated net profit 52 crores ( As per open offer disclosure)
Yearly estimated net profit Rs 624 crores ( 52*12)
Industry avg P/E 16
Traget MC 9984 Crores (624*16)
Number of Shares 117.55 Crores
Projected Share Price 9984/117.55 = Rs 85

Mahindra paid Rs 2908 crores to buy Satyam. This cash may be used for legal litigations ( UPAID and Class action suits)

NSE Announcements on Jyoti Structure

Posted by : Guest

Thanks .. Should i hold this company shares for next few months or move into some other company?
Usually it opens with strong note in the morning but ends with flat while closing. will it return good profit if i hold this for next two three months?

COX & KINGS IPO

Posted by : aijaz159

Hi Can anyone advise me date of list of C&K pls.
thanks

what to do

Posted by : 3m_mishra

Why do you buy these type of 3rd class stocks!!!

DIV -REG

Posted by : NAUGHTY007

HI ANYBODY RECD THE INTERIM DIVIDEND?

Reliance plans aggressive exploration

Posted by : tara23

what i meant is no one will be there to judge who is cheat and who is not...

TILAKNAGAR SHORT TERM TARGET 110.

Posted by : panasonic

Tilaknagar have taken up manufacturing expansions through both organic and inorganic routes. Besides an envisaged project of doubling its ENA capacity to 100,000 litres a day, Tilaknagar has also acquired two companies - Surya Organic Chemicals (P) Ltd. in Karnataka and Prag Distillery (P) Ltd. in Andhra Pradesh to bolster its manufacturing capabilities and serve growing markets....

suggest

Posted by : Guest

The decision could be taken only after analysing the next qtr results, when definite trend could be sensed