This is something new. Only thing I could find out was this particular winding up petition is scheduled to be heard on 1st May at NCLT. So not sure what will be happening tomorrow.
Who are these creditors?
This may be related to demerger.
As per Mr Agarwal, they have also filed a petition against this particular creditor to challenge their winding petition. And the outstanding loan against this particular creditor is very minuscule. All the necessary documents and reports are submitted to the NCLT court and he expects to get the decision today. Hearing is in the second half. Lets wait and watch.
Can someone call Praveen Agarwal @ 07767806002 to check the status of hearing and share here…I already have called couple of times …
With due respect to the investor sentiments, believe the CFO should be more focussed on running the firm rather than kept busy fielding investor calls. Also believe it’s a bit of an invasion of privacy when you post their number in the public domain - can you please remove ?
I absolutely share the same hunger as you do to be updated Good luck !
This phone number is shared in Omkar website so , i dont think @sumitg04 is doing any privacy invasion
Chief Financial Officer
Chief Investor Relation Officer (CIRO)
Mr. Pravin Agrawal
B-34, MIDC, Badlapur, Thane – 421503
E-mail ID: [email protected]
He is the Investor Relationship officer and his number is already available in this forum
So here is the update…The hearing was done just before the lunch time and got completed, the NCLT will announce the final order sometime tomorrow…Keep your fingers crossed guys, it seems it is a done deal now!!
Are you sure order is going to be passed tomorrow? NCLT cause list for tomorrow shows reason as hearing only.
That is what Mr. Pravin Agrawal has informed. Official order will be received tomorrow until then they wont confirm . Unofficially he has stated its positive news, but since management didnt stick well to there words before , we will just have to wait till tomorrow and see how the order is. I have also talked with him on phone today , so lets see what comes in tomorrow Officially .
Is it correct to assume that entire de-pledging would have been done now?
And if so, are not promoters required to give disclosure for the same?
Has any one (@sumitg04 or @Hocuspocus32 or anyone?) asked Mr Pravin if and when they plan to hold con-call, they had mentioned in their presentation that it will be held post NCLT order.
Disc: Invested. Not a SEBI registered adviser or analyst.
More shares(1.90 lakh) are sold on 05/04/2017 and 06/04/2017 almost for 3 cr value in Market by Pravin Shivdas Herlekar his stake has come down from 11.13 to now 10.21. This was before the NCLT hearing so I guess the de-pledging might be over. Company hasnt shared any info on that. This sale is mentioned on Insider trading details which they have informed yesterday to exchanges.
Yes,the management informed after one week. not good, it seems they were waiting for NCLT order.
Promoter holdings as on 31.03.2017 is 41.01 %, out of which 11.26 % is pledged. But Positive is, Goldman Sachs holds 1.18 % and Premier Investment 1.26 % of equity.
Total FII/DII holdings have come down from 4.4% to 3.6%. Birla sun life has sold most of its holdings from 2.65% in Dec quarter and in March quarter its not coming. So I would consider this also a negative even if GS took ~1.2% of that. Overall one needs to be cautious.
Discl. Not invested
Any idea what is going on here? NCLT order is not yet updated, nor is there any update about pledge / demerger date. My best guess is depledging may no more be required.
Finally here is the order