SVPCL Limited IPO Message Board (Page 20)

any new on final hearing whether when we can have our money

FROM USECTRADE
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STATUS UPDATE REGARDING INITIAL PUBLIC OFFER (Issue) OF SVPCL LIMITED (Company)

Further to the status report regarding the Issue of the Company posted on our website and with a view to update the investors regarding the outcome of the Appeal filed by the Company with Securities Appellate Tribunal (SAT) and before the Hon’ble Supreme Court of India, we would like inform as under:

1.      As the Investors are aware, the Company had filed an appeal before SAT against the order dated January 21, 2008 of BSE, praying for quashing of the said order of BSE and directing BSE and NSE to grant listing and trading permission to the Company. The Hon’ble Bench of SAT heard the matter and vides its Order dated May 9, 2008 dismissed the Appeal filed by the Company.

2.      Upon receipt of the aforesaid Order dated May 9, 2008, we had, vide our letter dated May 12, 2008 requested the Company to fund the interest amount to the Refund Account to facilitate the refund of application money to all the Investors together with the interest thereon.

3.      The Company vide its letter dated May 13, 2008 informed us that the Board of Directors of the Company at their meeting held on the same day decided to file an Appeal before the Hon’ble Supreme Court against the aforesaid Order dated May 9, 2008 passed by SAT.

4.      Since, we had not received any update/copy of the appeal before Hon’ble Supreme Court from the Company, we had by our letter dated May 20, 2008 once again requested the Company to credit the Refund Account with the interest amount due and payable to all the Investors, in order to facilitate the refund of application money and interest payments to all the Investors.

5.      Thereafter, we have filed a caveat in the matter before the Hon’ble Supreme Court on May 21, 2008 to ensure that we are heard in the matter of the protection of Investors interests and to ensure that an appropriate order is passed by the Hon’ble Supreme Court on the issue of refund of interest to all Investors.

6.      The Company moved the matter before the Vacation Bench of the Hon’ble Supreme Court on May 26, 2008 after notice to us as we had filed our caveat; no notice was given to the other respondents. The Hon’ble Supreme Court heard the matter for sometime and after hearing Counsel for SVPCL and us the Hon’ble Supreme Court was pleased to issue notice to the parties.

7.      The Company once again moved the matter before the Vacation Bench of the Hon’ble Supreme Court on May 28, 2008 after notice to us for a clarification of the Order dated May 26, 2008, wherein the Counsel for SVPCL contended that the Hon’ble Supreme Court had also issued notice on stay. After hearing the parties the Hon’ble Supreme Court confirmed that the order passed on May 26, 2008 recorded the order of the Court correctly and that the Court had not issued any notice on stay.

8.      We filed an Interim Application in the aforesaid Appeal and on June 5, 2008 we moved the matter before the Vacation Bench of the Hon’ble Supreme Court for urgent orders on the refund of the money available with the refund bankers and that the Court issue directions to SVPCL to deposit the interest amount with the refund banker. The Company renewed its stay application on the same day and the Hon’ble Supreme Court directed that both the interim applications should be placed for hearing on June 16, 2008.

9.      On June 16, 2008 both the applications as mentioned above came up for hearing before the Vacation Bench of the Hon’ble Supreme Court and after hearing Counsel for the parties present including Counsel for SEBI the Court directed that the matter will be heard on the re-opening of the Court after the Court vacation.

10.      It is however pertinent to note that the entire application money received in respect of the Issue is in an escrow account separately maintained with HDFC Bank Limited, ICICI Bank Limited, ABN Amro Bank, Bank of Baroda and Axis Bank Limited (the Bankers to the Issue). We would like to draw your attention to the fact that the said money cannot be accessed by the Company till such time that the shares are listed on the exchanges. In the event the shares of the Company are not listed on the exchanges, then the said money will be refunded to the investors with interest. In the circumstances, all necessary steps to protect the interests of the investors are being taken.

Mr. Shah i think u should know the result of the case, as u always keep on fooling people

ANY NEWS ?
TODAY IS HEARING

i read da letter posted on 9th of july in dat in the end its written that we will get our money back by applying to Aarthi consultants before 10th August 2008. pls let me know is dis true. will we get our hard earned money back. Pls let me know m in depression i had invested 50,000 Rs.
Thanx

Date posted: 09 july 2008

SVPCL Limited IPO has got some trouble while allocating shares due to some legal issues. Company published a letter to its investors saying that the delay in allotment/refunds is because of unintentional and inadvertent discloser which appeared on the cover page of its RHP, in the application form and also on other places in RHP. Company has corrected the document and submitted it to SEBI and stock exchanges.

Due to define rules by SEBI, Company has given an option to its investors to withdraw the application with in 10 days from the date of the notice i.e. on or before 5:30 PM on December 13, 2007.

Process to withdraw application:

Submit a duly signed request along with:
A. Name of applicants
B. Address
C. Application number
D. Number of shares bid for
E. Amount paid
F. Cheque number
G. Bank and branch detail

Send it to:

Kind Attn: Mr. G. Bhaskar
Aarthi Consultants Private Limited
1-2-285, Domalguda, Hyderabad - 500029
Phones: 040-27638111/27634445/27642217/55611921
Email: svpcl@aarthiconsultants.com

Payment of interest:
Company will pay interest to all applicants @ 15% p.a. for delay in allotment/refund beyond 10/08/2008.

For more detail check company notice to BSE

it is very painfull since eight months am awiting for getting money.

final Hearing of the case is 2morrow hope for the positive result and pray god that all the investors get their money back along with interest by this month.

Any update about the case ?

wat about the present status? How to get the money back??

PLS I AM SMALL INVESTOR PLS MY RUPEES REFUND IN MY ACCOUNT PLS ONE YEAR

Mr Kanchan Kumar and other investors. Just write to Arthi Consultants and SVPCL for refunds by registered AD and keep the signed AD receipts with you. Legally you can withdraw your applications anytime before allotment. Let the company do anyting, as long as you have proof of asking refunds before allotment is made you will get your money back. Company is trying its best to ensure allotment and cheat the investors. Let us see what happens.

I invested Rs.- 45000/- for the IPO.till the date I have not received my money. Pl. help me to get back my money. Where the complain to be lodged ( pl. give web address or any suggestion )

Latest Update:

UPDATE AS ON 19/06/2008:

The issuer company filed an appeal in the Hon'ble Supreme Court. M/s UTI Securities Ltd the post-issue Lead Manager of the IPO, had moved an application in the Supreme Court seeking directions from the Supreme Court regarding refund of money to investors. The matter has been listed for 16th June 2008.

Upon hearing the counsel on 16/06/2008, the court ordered for listing this matter in the 2nd week of July 2008 for final disposal.

INVESTORS MONEY IS LOST!!

SHOW CAUSE NOTICE BEFORE ADMISSION)

IN THE HIGH COURT OF JUDICATURE OF ANDHRA PRADESH

AT HYDERABAD
FRIDAY THE TWENTY SEVENTH DAY OF JULY

TWO THOUSAND AND SEVEN

PRESENT

THE HON’BLE SRI JUSTICE RAMESH RANGANATHAN

COMPANY PETITION No. 91 OF 2007
IN THE MATTER OF THE COMPANIES ACT, 1956

AND

IN THE MATTER OF M/S. SVPCL LIMITED



Between:

M/s. Karamchand Thapar & Bros. (CS) Ltd., Having its registered office at 25, Brabourne Road, Kolkata-700001 and having among others a branch at 66A, R.P. Road, Secunderabad-500003, rep. by its General Manager, Sri Vikram Kapoor, S/o. Late Shri M.R. Kapoor, R/o. Hyderabad.

……… Petitioner

AND



M/s. SVPCL Limited, A Company registered under the Provisions of Indian Companies Act, 1956 having the Registered Office at 8-4-378/30, Erragadda, Hyderabad, rep. by its Managing Director.

…….. Respondent



WHEREAS the Petitioner above named through his Advocates Sri K.G. K. Prasad, presented this petition under Section 433 (e) & (f), 434 (1) & 439 (b) of Companies Act 1956 praying the High Court



a) To pass orders directing the winding up of the respondent Company viz; M/s. SVPCL Limited, 8-4-378/30, Erragadda, Hyderabad.

b) Under the Provisions of the companies Act.

c) To award costs this petition



AND WHEREAS, the High Court upon perusing the petition and the affidavit filed herein and upon hearing the arguments of Sri K.G.K. Prasad, Advocate for the Petitioners directed issue of notice to the Respondent herein returnable in three weeks to show cause why this application should not be admitted.



You viz:

The Managing Director, M/s. SVPCL Limited, A Company registered under the Provisions of Indian Companies Act, 1956 having the Registered Office at 8-4-378/30, Erragadda, Hyderabad.

.

are directed to show cause on or before 24-08-2007 to which date the case stands posted as to why in the circumstances set out in this petition (copy enclosed) this Company Petition should not be admitted. Learned Counsel for petitioner is permitted to take out notice on the respondent Registered Post acknowledgement due and file proof of service.





JOINT REGISTRAR

//TRUE COPY//

SECTION OFFICER

To

The Managing Director, M/s. SVPCL Limited, A Company registered under the Provisions of Indian Companies Act, 1956 having the Registered Office at 8-4-378/30, Erragadda, Hyderabad. (BY SPECIAL MESSENGER with a copy of petition and affidavit)
One CC to Sri K.G.K. Prasad, Advocate (OPUC)
One spare copy.
Ksv

I have sent refund requesting letter to Aarthi consultants,Hyderabad, but they did not refund the amount, when i asked, they told my lettter was lost. But i have proof of my registered post acknoledgement copy of sending. My humble request to answer of my letter, and Aarthi consultants Hyderabad, should take the Responsible for this, i have invested for 400 shares of my Father Hard earned money and he is in hospital i am not able to us e this amount

friends we cant do anything just watch the jugdement of supreme court

SVPCL FIRST MAKE DECENT PROFIT; THEN COME TO PUBLIC;
WE, POOR INVESTORS AT THE MERCY OF SUPREME COURT !!!

I dont understand why such delay for paying investors money, This company people what they are doing ? i dont understand ? I have invested Rs.95625 all money are blocked . please do the needful. please also confirm that our money is safe. and Company will pay interest @ 15 % what they committed.

svpcl ipo any update. iam small investors. pl. update when our money refund. thanks