Compact Disc investors disappointed over delisting plan; bank serves recovery notice - Moneylife Personal Finance site and magazine

Compact Disc investors disappointed over delisting plan; bank serves recovery notice - Moneylife Personal Finance site and magazine: "Compact Disc India (CDI) has left its retail investors fuming over its delisting plans. The shareholders are questioning the company's motives, as it has not paid the dividends it announced over the past two years, but it now seems to have the funds to buy back shares.

Interestingly, the company has been restrained from initiating any process of delisting of shares by the Debts Recovery Tribunal-II, Delhi, after its banker, HSBC, filed a suit for recovery. This is again strange, that the company does not have funds to pay its banker, but apparently has money to undertake a share buyback.

The stock reacted negatively to these developments, losing 16% since 6th June till the close of trading on Friday."