Phenomenal Phenomenon

The patrons and promoters of Shri Renuka Sugars are well known ever since they started trading in Parle biscuits and Tata Salt. They allegedly had a reputation for gainful manipulation of their monopolies. Maybe it in keeping with this tradition they decided to allocate preferential shares out of the promoters quota in Shri Renuka Energy Ltd., to the existing shareholders of Shri Renuka Sugars Ltd. They decided to do this by calling all the share holders to their Head Office in Camp and physically collecting the subscription amount/ distributing share certificates. Fine. There is nothing wrong in that. But the majority of the share holders of Shri Renuka Sugars Ltd, happen to be unlettered, ignorant farmers who descended on the Camp Head Office of the Company in wave upon wave of seemingly unending hordes.

Well the Company seemed to have anticipated this. Coz, their neighbours found themselves barricaded in their homes and compounds without even as much as "by your leave"! Imagine being shut up in / or out of your house, and/or the road to your house being blocked by vehicles on one side and bamboo barricades on the other with the Company's security staff behaving like Nazi Storm Troopers. If this was not enough the villagers with no civic sense blocked the only other approach so much so that one neighbour had to call the police. Strange it seems that the police looked the other way when so much was going on! Do you feel Might is Right?

Those that have erected high walls around their property were spared the ignomy of having their property used by the villager shareholders for eating their dinner and sleeping overnight! If you think that is all right, where will these poor people go, you will change your views when you come to know that the very same people used these very grounds to take their morning dump and throw away thier litter and empty booze bottles.

Thank you very much but you'd expect that one of the key promoters who is a Finance Professional and who sits on the board of a leading Private sector bank would have had better ideas on the mode of distribution of preferential shares.