Stocknet international
Artillegence bio-innovations ltd
Surprsingly 2 companies with different directors and and shareholders share the exact same registered address
Amritdham Suite No. 5 & 6, Nityanand Nagar, Bakultala,Howrah 711109
they also have the same auditor T N DATTA and sons who incidentally isthe auditor for two more calcutta companies known for extreme honesty Austral coke and Gremach infra
The directors of both companies though are completely different
Jagati publications was incorporated in jan 2006
In 2007 and 2008 14 unknown loss making companies including stocknet and artelligence bio made investments of 45 crores in jagati publications ie they bought shares for 45 crores
Source http://indiatoday.intoday.in/site/Story/121270/cover-story/jagan-mohan-reddy-the-prince-of-cash.html?page=1
"Under the guise of buying shares, they have paid kickbacks to Jagan," alleges TDP President N. Chandrababu Naidu. "Otherwise, how else can Jagati Publications allot shares at such high premium within months of incorporation?"
In 2008, auditing firm Deloitte estimated the worth of the publications, which owns the powerful 26-edition Telugu newspaper chain Sakshi with a total circulation of 12 lakh copies, at Rs 3,500 crore. It is odd that the balance sheets of 14 companies which invested Rs 42.56 crore in 2007 and 2008 in Jagati show an accumulated loss of Rs 68.95 lakh.
The main ones - Stocknet International and Artillegence Bio Innovation-are listed on the Bombay Stock Exchange and the other 12 are shareholders in the 2 listed companies ......their total accumulated loss (net worth)is nearly 70 lakhs yet they had 45 crores to invest in Jaati Publications (owner of sakshi newspapers and Sakshi channel )
These include Delton Exim Pvt. Ltd, Kirti Electro Systems, Bay Inland Finance, Bhaskar Fund Management Ltd, Cliftons Pearson Export and Agencies Ltd, Ganga Builders Ltd, Ispat Sheets Ltd, Gromore Fund Management Company Ltd, New Outlook Securities, Super Finance Ltd, Shakti Ispat Production Pvt. Ltd and Shivalaxmi Exports Ltd.
Interestinly Laffan software and conrad telefilms 2 of the 4 assam based companies banned by sebi from accessing the market also held a stake in artelligence bio in 2008
The bank accounts of these companies are in the Gol Park branch of HDFC Bank and the Baliganj branch of the South Indian Bank Ltd in Kolkata.
Several of these firms have been or are being investigated by the Securities and Exchange Board of India for unfair trade practices and fraud.
1 comments:
In the case of Mascon Life Sciences, it has disappeared from its Vasant Vihar address and replaced at that same building by Secure Earth health and life sciences, which has the same directors as MLS.
Just a fraud scheme by the parent company Mascon Global to evade creditors.
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