The company appears to have had a patchy history of engaging in unrelated business activities including dealing in cable wires and software development & services. It was taken over by a Mrs Madhury Damani in 2010, who now has a 75% stake in the company . The public still owns 25% (as at 31 st March, 2011). Balance sheet figures have been unavailable for over three years now. The last balance sheet for FY ’08 displays about 50 lacs of working capital largely comprising of unsecured ‘sundry’ debtors – its current financial position is unknown. Furthermore, the business generates no revenues or profits currently. Management plans for the business are unknown and future cash flows are highly speculative.
An Individual Investor's Perspectives On The Indian Financial Markets