I agree promoters are terrible when it comes to the interest of minority shareholders
Are we really missing something here? Is it time to grab this share and load in tonnes? All said and done , the scrip is potentially staring at revenue of around 3000cr in coming years. If JV partner publicly acclaimed statement of sales figure is correct,then is this a case of vested interest suppressing the counter? Promoter should be called by business channels to spell out on cash flow in the next few quarters.
Sir, is there any reason behind intra promoter exchange of shares @ Rs 390/share,when average 6 month price is substantially lower?If Mohan distelleries has enough cash to buy shares at this price, can we expect return of cash with interest to Binny Ltd during the week end meeting? What is happening here?
I think that there are a lot of q/s about the safety of minority shareholders that have remained unanswered over the past. Was invested but exited there were a lot of things that kept changing and it was very difficult to get an understanding of what was happening in the co. The land and potential development is very lucrative though but not sure whether its a good investment
Best
Bheeshma
This is to inform that a Board Meeting of the Company is scheduled to be convened on Saturday,
September 04, 2021 inter-alia to consider the following proposals:
- Formation of a Wholly-owned Subsidiary Company for setting up a 195 KLPD Grain
based Distillery for production of Fuel Ethanol, under Projects approved for Ethanol
Interest Subvention Scheme announced by the Government of India. - Setting up a2 MW Solar Power Project.
The exchange is requested to take the same on record.
A ray of hope or a drama to get the debt settlement plan approved by minority, being a promoter related transaction?
Hight of embezzlement of Rs560 Crs of Company’s Fund 5 years back by promoter group by way of using it in one of the promoters closely held company without taking minority share holders approval. Inspite of minority share holders rejected this Related Party Transaction still promoters didn’t bring company’s funds back to the company’s kitty. And now after 5 years dramatically they say they are off setting this Rs560 Crs with Acquiring Non Core Activity Assets of Promoters Loss Making Closely Held Company. This is not an end to Minority Share Holders Plight during this 5 years deliberately company inspite of having made huge sale response in real estate construction project and even sold outright piece of land worth Rs560 Crs still never declared dividend. And during this 5 years the promoters drag huge Remuneration from company. And statutorily every company was supposed to declare 31st March result by June 2021 but Binny Management didn’t bothered to declare it uptill now. Under which law they got permission to delay result declaration indefinitely !!! And inspite of so many share holders complaint to SEBI & BSE for the reasons best known to them they are also not taking any action against Management.
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if it is an act of siphoning money, they are doing it very openly. Transferring all received money as and when it is received even after share holders declining the transaction in a different route. What is the protection the minority share holders have. Surprising how LIC is still silent if that is the case. How the complaints can be registered? I believe the transaction will anyway come for minority share holders approval. Who knows the binamies have bought shares to vote and pass the resolution?
Finally EGM notice released by Binny. Eventhough doubting a lot on promoter, still see a chance they being right consider MBDL was supporting company at critical time.
EGM Notice final - Key points.docx (47.5 KB)
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Sebi appoints forensic auditor for Seya Industries. What invoke such action. May be useful here 
There seems to be lot of infighting going in the family.
Anyone tracking it.
Disc : Not invested
Is this company finally on track with so much drama in all these years.. no less than some bollywood movies. Audited result for 2024 and annual report shared by the madras high court administrated board, finally reveals details of amended JV with SPR ltd, which itself has become shareholder in Binny ltd with approx. 16.5% stake. Out of total expected saleable area of 120lac sft , 53 lac sft area settled for lump sum amount of approx. 923cr. i. e. 300cr lump sum payment in addition to already paid amount 623 cr as per reconciled statement. Remaining 67 lac sft area to be built now would continue under JV as per revenue sharing model. Apart from this ,new team has indicated many of the points highlighted by SEBI has been complied with including registration of land in the name of Binny ltd from Mohan breweries and distillery ltd. Erstwhile promoters have been completely marginalised and restricted by the court from day to day operations. In respect of one of the land parcels of 12.43 acres of land at Valasaravakkam taken over by the
company from M/s Mohan Breweries and Distilleries Limited, under the scheme of settlement,company proposes to enter in to JDA with M/S Osian constructions pvt ltd, chennai for developing a residential complex.
Key Terms
- Total Land extent : 12.43 acres
- Location : Valasaravakkam
- Type of Development: Stilt + 5 floors
- Model: Revenue sharing.
A. Base FSI
Binny Limited – Land Owner: 50%
Osian construction Pvt. Ltd. – Developer: 50%
B. Premium FSI
Binny Limited – Land Owner : 27%
Osian construction Pvt. Ltd. – Developer: 73% - Refundable Security Deposit:
The Developer agrees to pay a total refundable security deposit of Rs. 50 Crores
(Rupees Fifty Crores only).
Expected cash flow:
Total estimated revenue during the Project period: Rs.1486 cr.
Binny’s estimated Share of revenue : Rs.693 cr.
AGM of FY 2024 with audited results scheduled on 31.12.2025 and AGM for FY 2025 is also scheduled on the same day and result not published as the same is being audited now by the newly appointed audit firm.
Despite all these developments do not think any genuine investor would dare to touch this counter even in unlisted market after witnessing high drama and acts enacted by the erst while promoters .
Can somebody throw light after going through published annual reports and informations shared by the new team , what could be the worth of this company if new team really performs as per expectations? Though listing is not possible as the company is banned till 2027 by SEBI.
Is the investing community in this counter still has the energy and zeal to reevaluate the possibilities under new management?
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