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Bought shares 4 years back,company not ready to buyback at same prices
29-Jun-2023 (In Corporate Law)
I have invested in an unlisted company 4+ yrs back. They have not met any of the plans shared and still continue to woo people by selling their shares at 5 times more than what they have sold me. I have approached them to buy-back my shares and they are telling that they can buy at the same price that was issued to me. This seems to be a Ponzy company - What are the further steps i can take?
Write a letter to the Board asking for buy-back and an explanation. If it is a registered company selling shares, they will be filing annual returns and conducting meetings. Ask for all these documents. If you still feel it is not trustworthy, approach the Registrar of Companies to find out the status, alternatively you can access the MCA website and find out information about the company.
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