Oswal group, earlier Bindal Agro cheated its share holders, no balance sheet was issued for 20 years, no request responded to for change of address. 6 months back out of the blue, a share trader located the new address and offered to buy shares at Rs 25 per share.
Re: Cheated public in India
by pravin sarode on Apr 24, 2016 07:14 AM
WHEN BRITISH ROYAL COUPLE DENIES TO RETURN KOHINOOR DIAMOND IT IS ALL WELL SANTOSH but the diamond is real panauti for all kings who took in possession BRITS lost DIANA due to KH?
Some more than 20 years back through several public and right issues hundreds of crores of rupees were collected with false promises of investments in sunrise industries eg petrolium through companies eg Oswal Agro Mills, Oswal Agro Furans, Bindal Agro all issues at hefty premiums in connivence with financial institutions obviously when the family was based in Ludhiana. Big money was sifonned off, businesses made to turn unprofitable and sold off to kribhco and iffco. Booti left in shape of high valued real estate at various locations is major bone of contention. Small investors all over the country left with their hard earned money going in smoke. Shares bought at a premium of rupees 50 about 20 years back are not worth plain papers even.
Experisation requiremnents and technology would never allow any big business by any family. Legal route to resolve the disputes had always been disastrous for all concerned.
The above in-family corporate war strongly and dearly reminds us of one of the best dialogues from a hollywood famous caper "Wall Street" (1987). "Its all about money kid...rest is conversation. And that sums up the entire saga.
