Terms And Conditions
MIDASTOUCH ASSETS AND SECURITIES LIMITED’S REDEEMABLE PREFERENCE SHARE
MIDASTOUCH ASSETS AND SECURITIES LIMITED is privately placing redeemable preference share(s).You Are invited to participate in the offer on the terms listed below……
|No of Preference share(s) to be applied for allotment||500 No(i.e. Rs 5,000.00) or any multiples of 500.|
|Face value of each fully paid preference share||Rs. 10/-|
|Premium on each preference share||Nil|
|Redemption period||60 months|
|Redemption value||Rs. 10/- per share|
|Dividend||24% (i.e. for 12 months)|
|Dividend payment||As per the provisions of Companies Act,1956.|
- The principal amount shall be repaid on maturity on surrender of the preference share(s) certificate(s). The preference share(s) certificate(s) may be surrendered to the company in advice i.e. one month before the due date to enable the company to issue repayment warrant/DD in time.
- The preference share(s) are liable for redemption after expiry of 5 years(60 months), However , the holder of preference share(s) may opt for conversion of such share(s) to equity shares in company, In such case the holder should express his option one month prior to the due date. The number of equity shares to be allotted in place of his/her preference share(s) shall depend on the fair value of equity shares on the date of conversion as per the provisions of the Companies Act, 1956. any fraction shall be refunded to the holder by cheque or DD. However conversion of preference shares to equity shares is at the sole discretion of the company.
- The preference share(s) may be redeemed after 3 years(36 months) but before expiry of 5 years (60 months) from the date of allotment or issue, only if the company so decides by its board of directors.
- The company will repay the redemption directly by cheque/DD or through any other financial instruments as agreed between company and shareholder at the time of application.
The certificate(s) of allotment of preference share(s) as well as all money receipts, which will create liability to the company, will automatically stand cancelled after the share holder gets his/her return from the company by directly or indirectly through any other financial instruments where the company has invested in the name of valued share holders on his/her request/interest.
The entire amount should be paid with the application form in the shape of cheque (subject to realization)/DD drawn in favour of “MIDASTOUCH ASSETS AND SECURITIES LIMITED” payable at Bhubaneswar.TRANSFERABILITY OF PREFERENCE SHRE(S)
The preference share(s) can be transferred to other person. The transferee should lodge the share certificate along with valid stamped transfer deed duly signed by the transferor and the transferee to the company. Company in its board meeting shall transfer the share in favour of transferee. The company can refuse to transfer such shares on valid grounds.RIGHTS OF ACCEPTANCE OR REJECTIONS OF APPLICATION
- The Board of Directors of the company reserves all rights to accept or reject any application without assigning any reason what so ever.
- The application forms which are not complete in all respects are liable to be rejected. The amount shall be refunded to the applicant within 30 days of rejection for which the company shall not pay any interest.
The fund raised by placement of redeemable preference share(s) will be invested by MIDASTOUCH ASSETS AND SECURITIES LIMITED which is engaged in various diversified business activities.ISSUING AUTHORITY OF PREFERENCE SHARE(S)
The share(s) would be issued pursuant to the resolution passed at a Board of Directors of the company held at its registered office.INVESTMENT CATEGORY
Individuals, Trusts, Corporate Bodies, Foreign Financial institutions, Domestic Financial institutions, Mutual Funds.ALLOTMENT
Allotment of redeemable preference share(s) will be made within 45 days from the date of receipt of application form. The redeemable preference share(s) certificate(s) will be sent to the sole applicant .GENERAL INSTRUCTIONS
- Fill the application form in BLOCK LETTER in English only.
- This offer is being made on private placement basis and can not be accepted by any person other than whom it has been offered.
- Signature of applicant should be in English or any Indian language. Thumb impression should be attested by any authorized official of a bank or by a magistrate or notary or gazette officer.
- The completed application form along with cheque/DD and all documents must be delivered at company’s Head Office/Branch Office/Business Associates.
- In case of applications under power of attorney of by limited companies or corporate bodies, the relevant power of attorney and the certified copy of relevant resolution of authority to make the application as the case may be; along with a certified copy of Memorandum and Articles of Association and/or Bye Laws must be lodged.
- Applicants applying for preference share worth Rs. 50,000.00 or more should mention their PAN.
- The company reserves the right to amend and alter the terms and conditions governing the share(s) issue at its sole discretion at any point of time.
- All disputes/transactions are subject to jurisdiction of court at Bhubaneswar (Orissa) only.