Coming down heavily on a taxpayer for what can be termed as ‘sham’ long-term capital gain (LTCG) transactions, the Delhi bench of income-tax appellate tribunal (ITAT) said the jump in the share price of a company of unknown credentials, cannot be an accident or windfall but is possible...

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On 17th October, Reliance Industries Ltd (RIL) came out with its financial results for the second quarter (Q2) of FY18-19 results. However, more than the numbers, the buzz was created by its announcement of plan to acquire 66% stake in Den Networks and 51.30% stake in Hathway Cable, which...

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Archit Organosys, which manufactures chemicals, specialty derivatives and adhesives and sealants, claims to be of the leading chemicals companies in India. The surprising part is that, though the company’s website claims that it has maintained a steady growth and has ‘matured itself in...

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Best Steel Logistics Limited (BSLL) claims to provide warehousing solutions for steel industry and is also engaged in trading of steel and related products. It controls four warehouses with a total area of 373,000 square feet, located in Bengaluru, Hyderabad, Faridabad and Ghaziabad. While...

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Toyam Industries was originally incorporated as Chetram Balkrishan Limited and later changed its name to Ojas Asset Reconstruction Company Limited before it was rechristened  Toyam Industries in December 2016. The penultimate renaming was designed to reflect its changed business—from...

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New Bank of India Limited was into banking. Its business was taken over by the government in 1980 and, after nationalisation, the company changed its name to NBI Industrial Finance Co Limited and began to operate as a non-banking financial company (NBFC). It provides hardly any information to...

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Antarctica Ltd claims, on its website, that it started off with providing pre-press services; diversified into printing on a job-work basis with multicolour offset printing machines and, now, is in the packaging and printing business. The company was earlier called Antarctica Graphics Limited...

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Yuranus Infrastructure Limited, formerly known as Pankhil Finlease Limited, was incorporated as a non-banking financial company (NBFC). Pankhil Finlease had got into quite a few legal and regulatory issues. The company and its directors were held guilty of default in filing annual returns in...

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Blue Pearl Texspin Limited was formerly known as E-Wha Foam India Limited. It started off with the setting up a unit in Goa to produce 1,500TPA (tonnes per annum) of polyethylene foam products in collaboration with E- Wha Foam Korea Co (South Korea). In 2012, it changed its name to Blue Pearl...

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The primary business of Purshottam Investofin is, ostensibly, to provide loans and advances. It is registered as a non-banking financial company (NBFC) with the Reserve Bank of India (RBI). It was earlier called DB Merchant Banking Services.    The company has a market-capitalisation...

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Devhari Exports started as a share-broking firm in 1994 under the name LD Lakhani Securities Limited. It then moved into export business in 1995 and changed its name to Devhari Export (India) Limited in 1999. The company is now engaged in the business of the trading of steel. It reported...

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BFL Developers Ltd is a non-banking finance company (NBFC) based in Jaipur which apparently deals in trading and investment of corporate securities. It also claims to provide inter-corporate loans and investments. Remarkably, the company showed negative sales twice in the past year—Rs1.25...

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Agio Paper & Industries Ltd is apparently a paper manufacturing company based in Bilaspur. However, for the past four years, the company has made no sales at all. Its reserves are negative Rs21.33 crore, for FY16-17. While the company has no business, the share capital rose to Rs30.62 crore...

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Sai Baba Investment and Commercial Enterprises claims to be in the business of buying, selling, distributing and marketing of goods and all kinds of commodities, providing loans and advances, financing industrial companies, offering management and financial consultancy and into real estate...

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Nutricircle Limited, formerly known as Shreeyash Industries Limited, claims to be into healthcare, cosmetics and agriculture. For FY14-15 the company recorded no sales, while for FY15-16, the sales were Rs23 lakh. For the March 2017 quarter, the sales were Rs47 lakh. According to the annual...

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Anjani Foods Limited (formerly Raasi Enterprises Limited) has witnessed a sharp increase in its share price over the past eight quarters. The sales in the March 2017 quarter grew 11% year-on-year (y-o-y), from Rs5.41 crore in the March 2016 quarter to Rs6.01 crore in the March 2017 quarter....

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Rajkumar Forge manufactures medium and heavy open-die forgings for the oil, gas, power, iron, steel, sugar, cement, chemicals, fertiliser and general engineering industries. It claims to be one of the leading exporters of critical forgings and has a presence in South East Asian...

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Scandent Imaging, earlier known as Count N Denier, claims to provide 3D and 2D scanning services, along with expert reports, to cater to the requirements of the dental and ENT fraternity. The company claims to have a team of oral and maxillofacial radiologists and provides referral-based...

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Himalaya Granites was engaged in manufacturing, producing and marketing of granites monuments, memorials and tombstones. The business was mismanaged; the situation was further aggravated by a labour strike followed by a lock-out in 2008. The management has been striving to chalk out a new...

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STL Global Limited, formerly known Shivalik Global Ltd, has two business segments, viz., textiles and real estate. The textiles division contributed 78.80% of the total revenue and real estate division 21.20%. In the past eight years, the sales of the company have been declining and profits...

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