shareholding pattern

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CS A Rengarajan

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Feb 20, 2011, 10:16:04 AM2/20/11
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Recently in one case  MCA has clarified for calculation of shareholding percentage preference shares will not be included.  This is in reference to Telecom companies shareholding pattern

Members view solicited whether preference shares will be excluded for calculation of shareholding percentage?

Best Regards

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CS A Rengarajan

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Feb 20, 2011, 10:56:12 AM2/20/11
to CharteredS...@yahoogroups.co.in, CSMysore, cschennai, Company_Secretary
The news came in ibn live . This has reference to Reliance holding in swan telecon.   The Department of Telecom telling that reliance is holding more than 10% ( inclusive of Preference shares)  Whereas MCA has given clarification that preference should not be included for shareholding pattern. Normally Equity share holding will be taken into consideration.  

When a company which includes both preference shares and equity shares whether we need to take into both or single

Contrary view solicited

Best Regards



On Sun, Feb 20, 2011 at 9:17 PM, <haris...@hotmail.com> wrote:
 

For what purpose? Reference to context is important. Cud u pl upload copy of MCA,s clarification?
Rgds
Harish K Vaid

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From: CS A Rengarajan <csaren...@gmail.com>
Date: Sun, 20 Feb 2011 20:46:04 +0530
Subject: [CharteredSecretaries] shareholding pattern

Vivek Hegde

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Feb 20, 2011, 11:13:33 AM2/20/11
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Dear Sir
 
Yes. Preference shares (unless they are converted into Equity Shares)should not be counted for calculating shareholding pattern as the ownership of the Company lies with the Equity Shareholders only.
 
Warm Regards

CS Vivek Hegde,B.com, ACS, CWA
Company Secretary in Practice
No. 405, 4th Block, 7th Cross
Koramangala, Bangalore-560034
Mob: 09019756940/09900898223

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Warm Regards

CS Vivek Hegde,B.com, ACS, CWA
Company Secretary in Practice
No. 405, 4th Block, 7th Cross
Koramangala, Bangalore-560034
Mob: 09019756940/09900898223

Note: Beware of one website by name www.myzamana.com which can hack your mail details (as mine) and send mail to all your contacts which is ridiculous and unacceptable. If any mail is sent from my ID please ignore that. I am trying to resolve the issue. Thanks ..!

CS A Rengarajan

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Feb 20, 2011, 11:22:12 AM2/20/11
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We don't know the same but department of telecom included and telling that swan is not exceeding the percentage

Regards

CS A Rengarajan

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Feb 20, 2011, 11:28:40 AM2/20/11
to CharteredS...@yahoogroups.co.in, CSMysore, cschennai, Company_Secretary
Dear Sir

Thank you very much for your kind response

I am giving the full facts. At the time of applying sepectrum by swan telecom, the shareholding pattern is as follows ( Reliance holding)

Equity shares is  9.50  ( approx)

Preference shares  1.00

Now the CAG report says that  the firm is not eligible to get spectrum licence due to the fact that existing telecom licence holder does not hold more than 10% in the new company.  This is one of the condition while applying for spectrum allocation.  But swan telcom contention is that the we will take up equity share holding percentage.  The views of MCA is also the same. we don't know the preference shares is convertible or non convertible or partially convertible.

Since i am watching 2G  spectrum issue in TV channels , the shareholding point came up and views of CAG, Department of Telecom and MCA  shown by the television channel

Best Regards




On Sun, Feb 20, 2011 at 9:51 PM, <haris...@hotmail.com> wrote:
 

Once again, context specific requirement is important. Normally, for all practical purposes, shareholding pattern of Equity shares alone is considered. Will also like to refer to the shareholding pattern under Cl 35 of Listg Agreemnt. If I correctly recall, SHP under Cl 35 doesn't consider Pref Shares as the same are redeemable.
Views of learned members are solicited.
Hkv


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From: CS A Rengarajan <csaren...@gmail.com>
Date: Sun, 20 Feb 2011 21:26:12 +0530
Subject: Re: [CharteredSecretaries] shareholding pattern
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