Traderji I Lost Money In Kolar Biotech

VaibhavPRO

Well-Known Member
#11
Hello Pradeep

Sorry to hear about your loss. Many people have lost much more than you did.You might be correct in saying that some people in BSE were involved, our system is corrupt to the core. 6 years have passed now, and i feel little can be done now. Learn from this and never invest in such companies, research fully before u invest.
I will tell our senior members to look at your query and see if anything can be done.

Thanks
Vaibhav
 

columbus

Well-Known Member
#12
29th Dec’ 2010


(12th November’ 2004)

Respected sir,

I had purchased total 1,09,000 shares of Kolar Biotech. Ltd. on 09th August’2004 at the rate of Rs. 1.61 /- per share and thus invested Rs.1,75,000 /-. I had bought the shares after seeing a KBL’s announcement regarding a bonus and GDR issue in “Economic Times”, page no.3, dated 05th August’2004. But the company had not followed the same. From 09th October’2004 SEBI had suspended trading in the above company’s shares.
Penny stocks can be EASILY manipulated.People who do not mind to lose 100% can add the
.Just an example,CALS REFINARIES which was canvassed here ,today at one time ,more
than 1 crore shares were for sale, but no buyers.
 

rajeabc

Well-Known Member
#13
Sad to listen your story .
you letter is dated Nov 2004. I am not sure whether you are following the company and actions taken by authorities against them. Here are the few links which I could get from Google for your information. Hope you recover your losses(though I doubt so). Good luck.

http://www.indianexpress.com/oldStory/56323/

http://www.watchoutinvestors.com/Press_Release/sebi/2004258.asp


http://www.bseindia.com/cirbrief/new_notice_detail.asp?noticeid={8B362AB2-1216-4E29-9EE4-4CF927E226A2}noticeno=20101216-14&dt=12/16/2010&icount=14&totcount=26&flag=0

http://www.sebi.gov.in/cmorder/kolarbio.pdf
 

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