From:-KIRAN DEVI MOHTA 9, Ram Swarup Khetry Road
New Alipore
Kolkata-700053
Regd. With A/D 15th December
To,
Securities and Exchange Board Of India
Office of Investor Assistance and Education
L & T Chambers, 3rd Floor
16, Camac Street
Kolkata-700 017
Dear Sir,
Sub: Complain against M/S M.K. Jokai India Ltd.
I thank you for your letter with advice dt. 7th July in response to my mail dt. 26th May. I need your assistance and advice on the following points.
1. I bought 400 equity shares of Rossell Industries Ltd. in June 1994 in physical form and got them dematerlised on 13-03 (copy enclosed).
2. Rossell Industries Ltd. (a 200 crore co. having 7 prime Tea Estates in Assam) was acquired by Hindustan Lever Ltd. (copy enclosed) and pursuant to the take over I was offered a buy back option by HLL for Rs.200 per share. However, I did not to exercise the option in expectation of better returns in future. Rossell, eventually got sold by HLL to M.K.SAHA group during 2002
3. Subsequent to the sale by HLL, I did not receive a single Balance Sheet of Rossell nor any notice of meeting from the new management. For the last 5 years I am searching this company for detail including its registered office from all the ways known to me, but could not get any information.
4. It was only when I got my holding de-materialized (copy enclosed), I could get to know that the name of Rossell has been changed to M.K.Jokai India Ltd.
5. At last I sent an e-mail on 26th May to SEBI (copy enclosed) to know the where about of this company and I got a response on 7th July (copy enclosed).
6. When I was planning to pursue this matter with Company Law Board, I got one envelope on 20th November with letter dt.2nd September and a cheque for Rs. 41.05 dt.20th June informing me that my entire holding (of more than Rs.1 lac) was disposed of merely for Rs.41.05 with no notice or even any communication in this regard from this company.
7.I feel deeply aggrieved to state that the value of the business as reflected by this new management is clearly an eye wash. The courts have been deceived by a scheme of re-arrangement which is clearly detrimental to the interest of all small investors including me. Rather in the interest of all big and small investors I wish to buy the entire holding of this company at a price higher than that offered to me, for my holding.
I therefore earnestly request you to look into the entire scheme of things for the cause of small investors at large and advice me in particular the necessary steps to be taken to safegaurd my holding.
Please do the needful and oblige with your advise.
Yours faithfully
KIRAN DEVI MOHTA
c.c to: 1.Co. Law Board, Kolkata
2. M.K.Saha Export, Kolkata
3. Ministry of Corporate Affairs, Mumbai
4. SFIO New Delhi
Note-Till date no fruitfull action or reply received from any of the nodel agencies to whome I have sent this complain. If any body guide me in this matter will be of a great help to recover my savings from this company.
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