SVPCL Limited IPO Message Board (Page 13)

Dear SVPCL,

1. Initialy your refund date was within 7/10days from the judgement.Now it has become 30 days.I am sure you will extend this for some more times with some reasons.

2. While announcing IPO you have talked too high about your company.Now we came to know what type of company is yours.Even you cannot arrange the refund in time.What I know if companys are doing good then they will listen to Supreme Court orders,investors problems ..etc. What are you doing..!

3. Really if you had understood the difficulties of your investors who had supported your IPO by taking loan with huge interests from other banks,positively you would have returned their many by this time.

4. Stop telling the stories to the investors.Return money to investors without any further delay.The interest rate what your paying is very meger compared to the amount spent by the investors to trace you people on phone,e-mail & letters,by wasting our time ,energy mental peace...etc

now they cross all the limits they not obeying the honble suprem court only god can help us

when u r returning my money

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

This is an update for the Investors regarding the outcome of the Appeal filed by the Company form the Order passed by the Hon’ble Securities Appellate Tribunal (“SAT”) before the Hon’ble Supreme Court of India. As investors are aware we have been posting the status report regarding the Issue of the Company from time to time on our website and with a view to further update the investors, we would like inform all the Investors as under:

1.      The Company had filed an Appeal before Hon’ble Supreme Court of India against the Order dated 9th May 2008 passed by SAT praying for stay of the said order and for setting aside the said order. The Hon’ble Supreme Court heard the matter at length and was pleased to pass an Order dated August 20, 2008 dismissing the Appeal of the Company.

2.      Thereafter, by our letter dated August 21, 2008 we requested the Company to fund the interest amount to the Refund Account to facilitate the refund of money to all the investors.

3.      Subsequently, we received letter dated August 22, 2008 from the Company informing us that the Board of Directors of the Company have decided to refund of the money lying in the escrow account to all investors and that the Company will pay the interest amount within a period of 30 days.

4.      We have, thereafter replied to the Company inter alia referring to SEBI’s letter dated August 21, 2008 bearing no. CFD/DIL/NB/NB/135616/2008, wherein SEBI had directed us and BOB Capital Markets Limited to take steps to ensure refund of the Application money immediately along with interest thereon at the applicable rate. We in our said letter further stated that the Company should have kept the interest amount ready and available for funding the refund account as the Company was liable to pay the interest to the investors irrespective of the order passed by the Hon’ble Supreme Court.

5.      We are however following up with the Company to fund the interest amount immediately without any further delay.

6.      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. In the circumstances, all necessary steps to protect the interests of the investors are being taken, by ensuring that the refund of application money happens along with interest @ 15% p.a.

svpcl dont care about the suprime court, i just had a conversation they say they dont know when they refund it they are wating for the judgement of court for the interest amount. i request them to send the principal and then fight they say no they do not wont to do this so it will be time consuming process again.
in this country suprime court can not do any thing if svpcl not refund the money after 10 days. what a same! what a same! what a same !

As per www.standardchartered-wealthmanager.co.in svpcl will deposit interest within 30 days (w.e.f. 21 Aug.2008)

kaha hai vakeel babu koyee news mili kya

ANY NEWS,,,,

hi pappu

kya apne baat kari svpcl me

inse paise kaise wasoole

THESE SVPCL DIRECTOR AND IT'S OFFICIALS SHOULD BE SPANKED BY MAKING THEM STAND IN ONE LINE AND THEN THROWN BEHIND BARS. THESE CROOKS SHOULD BE PUNISHED AS SOON AS POSSIBLE FOR ROBBING THE SHAREHOLDERS AND NOT RETURNING THEIR MONEY EVEN AFTER THE SUPREME COURT ORDER TO THE CO.

mr partha you are foolish ..after the judgement of hon supreme corut no one can apeal on regarding this matter ..they have to pay money if they delayed so much then ..kurki will take place against the md and members of svpcl ....just wait ..for this week only

Hi raj,

you can get principal amount may be after one more year, because, as per news they are again filing case on interest issue and keep pending the principal amount till the case is closed. so pray the god and wait till the case is closed.

areeeeeeeeee principal amount kab milega

LET THE GOVT AUCTION THE COMPANY'S ASSETS AND GIVE THE PEOPLE THEIR REFUND. THE COMPANY IS NOT OBEYING THE COURT'S ORDER. IT SHOULD BE WOUND UP AND THE DIRECTORS PUT BEHIND THE BARS. THEY CANT TAKE THE INVESTORS FOR A RIDE. WE WANT OUR REFUND AS SOON AS POSSIBLE.

hello lallu lal,

I am a small investor. I applied svpcl shares, i required my money back, why you always asking shares? this company is fraud company that's why they doesnt ready to pay interest amount.

If you have surplus money. Pl. donote some lakhs to me. I am in poor condition.

Friends,

Don't worry, at any cost we will get principal amount, because it is with Bank and not credited to SVPCL account, no company can use the imvestors money unless shares are alotted to the investors, only thing is interest part, it seems doubt to get interest because it has to come from svpcl account and they don't want to pay it now, again they may file the case in court and prolongs as long as possible.

******SEE THE LAST LINE******
***********8 DAY*************

The Supreme Court has asked Hyderabad-based SVPCL to refund the application money along with interest to the investors who had applied for the company's initial public offer.

The IPO was floated in October last year. Though the issue was fully subscribed, BSE denied permission for the listing of the shares on the exchange as the company had inevidently mentioned on the cover page of its red hearing prospectus that at least 50% of the net issue to the public shall be allocated on proportionate basis to QIB, whereas legally it should be up to instead of at least.

The company than approached SEBI as well as BSE but in the mean time an investor had filed a complaint with Sebi against the company for allegedly wrongdoing.

The company approached BSE to list the shares on January 7, but this was turned down by it as the 10-week period from the date of closing of the IPO has lapsed, which was required under Section 73.

Sebi on the other side told the company to let BSE to decide on the matter. The BSE asked UTI Securities to provide an undertaking, certifying that Section 73 has been complied with. But UTI Securities did not oblige as the 10-week period had lapsed. Consequently, BSE refused permission to the company to list. Against this the company challenged BSE in Andhra Pradesh High court by stating that the delay was on account of pending complaint with SEBI

However, the decision by Supreme court will provide relief to nearly 10,000 investors, who are expected to get a refund in eight days along with 15% interest once SVPCL receives the copy of the order.

mujhe paisa nahi shares chahiye ....

yaar they have no money. infact they have no money for refund principal amount. i have called svpcl officer, he always said we will get refundwith in 6-7 days. all r lier