Dolphin Medical Services Ltd Management Discussions.
The decision of the High court of AP and Telangana upholding the judgment of the lower court ordering to vacate the premises of operations at Vijayawada dealt a heavy blow on the finances and operations of the company. Before vacating the said premises all the equipment as per the attachment order obtained by Edelweiss ARC earlier from DRT was sold and the amount was paid to Edelweiss ARC after the due course of valuation by them. Subsequently the premises was vacated and handed over to the DHR as per the orders of the court.
However, with a strong resolve to make a comeback and start the operations of the company once again, the promoters and directors took another premises on rent to function as office for the company. The necessary amounts were borrowed from the directors and others and the necessary infrastructure was arranged for the functioning. The directors also lent the money to the company from their personal sources and others and this enabled the company to clear off the long pending dues of the statutory bodies like BSE and others.
Now the management is in discussion with Edelweiss ARC once again requesting them to take stock of the situation afresh and finalise the settlement amicably.
In the mean time various proposals for the new and afresh operations of the company are being validated and the necessary inputs and advise from the concerned consultants is being sought. Your directors expect the things to turn positive and favourable for the company in the near future.
|for on behalf of the Board|
|for DOLPHIN MEDICAL SERVICES LIMITED|
|Date : 29.08.2019||Nanapaneni Buddha Sagar|