Cadbury shareholders opposed valuation of shares based on the report prepared by Independent Valuers M/s Bansi Mehta and Co and M/s SSPA and Co which arrived at Rs 1,340 per share, IGF counsels Chandu Mehta and Darshan Mehta told PTI.
BJP leader and a former MP Kirit Somaiya, president of the forum, told reporters that the matter was mentioned before the court on Wednesday and the counsels for the forum argued the urgency of the case before Chief Justice Swatanter Kumar and Justice D Y Chandrachud. Advocates Darshan Mehta and Nishant Shashidharan appeared for the petitioners.
The Investors' Grievances Forum on Wednesday charged the Reserve Bank of India with continued cover-up operation in the IPO scam instead of nailing down the scamsters.
founder-president of the Investors' Grievances Forum Kirit Somaiya says the finance minister along with the market regulator Sebi were responsible for the market crash on October 17.
Calling the demat scandal in Yes Bank IPO allocation as "the tip of the iceberg", Investors' Grievances Forum on Wednesday demanded an inquiry into allocation of retail portion of almost 25 public issues that hit the market after June 1, this year.
A list of 25 companies that are suspected to be operating bogus demat accounts has been handed over to market regulator SEBI by Investor Grievance Forum demanding a probe into their operations.
Always avoid companies that promise assured returns that are too good to be true.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
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