Enbee Trade & Finance Ltd Company Summary

Enbee Trade & Finance Ltd Summary

Enbee Trade & Finance Ltd. was incorporated in July 24th, 1985. The Company is mainly engaged in the business of financing and investment in bodies corporate in order to yield greater revenue for its stakeholders. It operates into one reportable segment viz. loans given.During the period 2015-16, Amar Gala (Acquirer) executed Share Purchase Agreement dated January 22, 2015 with the erstwhile Promoter Shareholders for purchase of Shares of the Company and complied with formalities of the open offer process as per the SEBI (SAST) Regulations, 2011. The declassification of Promoters took place and the acquirer purchased the 58,200 Equity Shares of the Company at a price of Rs. 5/- per Equity Share in Regulations 22(2) and 22(2A) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers), Regulations, 2011, as amended, (Takeover Regulations). During the year under review, the Company on June 4, 2015 has issued and allotted 120,050 Equity Shares of Rs. 10/- each at Rs. 50/- each for which the Company has received the In-Principal, Listing and trading approval from the Stock Exchange where the securities of the Company are listed. Further, during the year, the Company had come up with the Preferential Offer of 7,00,000 Equity Shares of the Company to Promoter, Promoter Group and Non-Promoter Investors (Persons Acting in Concert), by way of Postal Ballot notice dated, 15 results for which were declared on March 12, 2016. On receipt of In-principal Approval from BSE Limited dated March 30, 2016, The Company made an allotment on March 31, 2016, of 690,000 Equity Shares at Rs.50/- in compliance with the relevant rules and regulation in force. In this context, the management is in the process of getting listing and trading approval for the aforementioned securities from the stock exchange. Pursuant to completion of the open offer formalities, the Management of the Company changed and the current location of the entire management is situated in Mumbai, Maharashtra. The Directors of the Company have decided to shift its operations fully to its administrative office also it would be more effective to expand Companys current business as well as develop other related business at State of Maharashtra, Mumbai i.e. to shift the registered office of the Company from Imambada Road, Nagpur - 440018 to B4 / C5 Gods Gift CHS Ltd, N M Joshi Marg, Lower Parel, Mumbai 400013 (i.e. outside the local limits), but within the jurisdiction of the same Registrar of Companies, Mumbai w.e.f. March 12, 2016.During the year 2016-17, the Company had come up with Preferential Offer of 545,000 Equity Shares of Rs. 10/- each at Rs. 50/- each to Promoter, Promoter Group and Non-Promoter Investors (Persons Acting in Concert), by way of members meeting dated September 17, 2016, results for which were declared on September 19, 2016, On receipt of In-principal Approval from BSE Limited dated October 26, 2016. The Company has received Listing and Trading approval for the said securities.Subscribed, Issued and Paid up Capital of the Company was 1,600,050 Equity Shares of Rs.10/- amounting to Rs. 16,000,500/- during the year 2017-18.