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[Resolved]  Fact Enterprises Ltd. (Mumbai) — Loss Due to Non issue of Rights and cancellation there of total loss of Rs.38000

M/S Fact Enterprise Mumbai declared Rights Issue of 3 shares for one share held. I held 200 shares purchased @ 260 per share.On 23.6 2008 the share price was Rs.277 plus and on 24.6.2008 it came to Rs.79 being Ex-right price. Company did not issue right issue form for about 4 months.It came in Octoberwhen market was down. I subscribed to it. I had sold Exright shares @Rs.89. The cost of right issue form was thus Rs.38000.The company did not issue right issue shares and returned the amount paid saying that rights issue was devolved by SEBI. My loss Rs.38000. Written to SEBI on 5.1.09 but no reply.Company address Fact Enterprise, 51, 2nd floor, Gulmohar Cross Road no9 JVPD Scheme (W) Mumbai 400049. Phone no.[protected], ,[protected].


Ashok Kumar Arora

Address: H.No. 609/22, Gurdwara Street, St.no 05,
Sham Nagar Ludhiana 141001
Ph.[protected], [protected]

Email: [protected]@yahoo.com
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Aug 14, 2020
Complaint marked as Resolved 
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