If you check the Holding pattern of geometric for Dec09 and Mar10 , below is what it seems :-

 

Mr.RJ has sold of his 1% stake in Geometric i.e 6.05 Lacs, and in dec 09 there were 38 holders in more then 1 lac category and 42 holders in mar10.

 

Now if you check total shares with 38 holders were close to 85Lacs and in mar 89 Lacs,

 

if Mr.RJ has sold off his holding then there had to be some decrease in total no of shares, and assuming that he sold off to some other Holder and others bought some more, still  it doesnt makes much sense to me as I am following this company for last 6 months and watching its delivery qty to traded qty , Bulk deals, Daily Charts, and I didnt saw any such large qty getting dealed. Also the management has been buying the shares from Open market, So, if Mr.RJ had to sell off his stake, then Godrej Group would had bought those shares easily and didnt had to buy from open market. like they did with Alchemy in which they bought 10L holding of Alchemy at once at around 62-63 bucks.

 

I think Mr.RJ has transferred those shares into his other DP accounts, or might had given for F&O margin.

 

this is my thinking and sorry if it doesnt make any sense but I am holder of the Company and I am trying to see everything as positively.