(Hat Tip:Jagadeeswaran)
If the promoter is a
Raju or a Reddy
Better sell quickly
Before you lose your “chaddi”
-Old Dalal Street saying
Another example to buttress this point is that of Amara Raja Batteries.
Amara Raja is seeking approval through a postal ballot, that ends on Friday, for entering into a lease agreement with Amara Raja Infra Pvt Ltd (ARIPL) to “take on lease land measuring 62 acres for a period of 99 years for total consideration of Rs 40.30 crore with effect from October 1”.
The land is in Andhra Pradesh’s Rayalaseema region. The new lease is in the vicinity of Amara Raja’s existing premises, part of the proposed 482 acres of an industrial park being developed by ARIPL. The company has undertaken expansion for enhancing the capacity in both industrial and automotive batteries at Nunegundlapalle village, Bangarupalyam mandal, in Chittoor district.
These facilities have already been put up on 100 acres of land taken on a 99-year leases from ARIPL. The listed firm’s promoters, Ramachandra Galla and Jayadev Galla, are directors of ARIPL and with their relatives own all the paid-up capital-from BS
So Amara Raja wants to pay its promoters upfront for a 99 year lease.
The above ditty should now be modified to:
If the promoter is a
Galla,Raju or a Reddy
Better sell quickly
Before you lose your “chaddi”
