1. In the month of June, 2008, Mr. Gulu Mirchandani disclosed that he had
aquired 17% stake of his brother in the company at Rs.35-00 per share
and paid an amount of Rs.86-00 Crores to his brother Sonu Mirchandani.
2. Mr. Gulu Mirchandani simply Pledged his 40% stake in Mirc Elec. with M/s.
Shyam Equities Pvt. Ltd, Bangalore and borrowed the whole amount of Rs.85
crores and paid that amount to his brother. Since then (One year and two months) shares are still under pledge.
So, this Company can become an easy TAKEOVER target, if Mr. Gulu Mirchandani could not repay the loan amount on the pledged shares. This is the information I have, Can somebody throw some light on this ?
CURRENT PRICE Rs.15 TARGET AT LEAST Rs.35
aquired 17% stake of his brother in the company at Rs.35-00 per share
and paid an amount of Rs.86-00 Crores to his brother Sonu Mirchandani.
2. Mr. Gulu Mirchandani simply Pledged his 40% stake in Mirc Elec. with M/s.
Shyam Equities Pvt. Ltd, Bangalore and borrowed the whole amount of Rs.85
crores and paid that amount to his brother. Since then (One year and two months) shares are still under pledge.
So, this Company can become an easy TAKEOVER target, if Mr. Gulu Mirchandani could not repay the loan amount on the pledged shares. This is the information I have, Can somebody throw some light on this ?
CURRENT PRICE Rs.15 TARGET AT LEAST Rs.35
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