@hack2abi, @Gaurav_Agarwal, @gpoliset
Guys, i believe i have got an answer to this voting right thing after a lot of confusion (on my side).
At the end of 5 years lock in period of promoter holding at 40% level, if RBI agrees to dissolve holding company, i.e. that RBI allows promoters stack to go down to zero, then it should be pretty easy for holding company shareholders to dissolve the USFL hold co. There must not be any role of new USFB shareholders in the holding company dissolution decision at that time. The reason being, it would be an internal matter of the holding company shareholders as the holding company will directly hold shares of USFB in its books and its just a matter of distributing those USFB shares to individual shareholders of holding company in proportion of their shareholding in the holding company. isn’t it? What do you think?
If this is true, then i am hopeful that RBI should be okay with promoter holding going down to zero after 5 years, since there is no rule that says that promoter holding in a bank must be such and such after 5 years (current rules only decide upper limit). So there could be a considerable upside at the end of 5 years (less than 3 years from now to say). And that could also mean that holding company trading discount should not be significant in case of UFSL share.