Joined: 13/Sep/2010
Location: India
Online Status: Offline
Posts: 14
Posted: 19/Sep/2010 at 3:37pm
On a curious note, the company was incorporated in 1978 - the same year in which the movie Trishul was released featuring Amitabh (Vijay) as the promoter of Shanti Constructions. It seems like the promoters are inspired more by the name than the aggression of Amitabh. Maybe they have read too much into the popular adage from the Hindu mythology - Ram kaa naam hi kaafi hai.
This company is another case of promoters cheating shareholders. They are merging a promoter group company High End Homes Pvt. Ltd. with Vijay Shanthi. Now that will double the equity base of the company to Rs.26 cr. (2.6 cr. shares)and increase the promoter's shareholding dramatically higher.
So what are the shareholders getting in exchange?
The only thing on High End Homes balance sheet is Rs.40 cr. loans & advances. The company does not want to disclose to whom they have lent and if it is recoverable.
For FY10 the NP of this merging co. is ONLY Rs.3 lacs.
So you are right that they are inspired by movie Trishul in which Amitabh uses every trick in the book to succeed.
However what these promoters forgot to learn from the character of Vijay is that he was honest with those (Rakhi)who supported him and were a part of his success story (shareholders).
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