Prabhhans Industries Ltd Company Summary

Prabhhans Industries Ltd Summary

Prabhhans Industries Ltd (Formerly known as Sea Gold Infrastructure Limited) was established in October 1993 at the Registrar of Companies, Andhra Pradesh with the objects to promote, establish, improve, develop, administer, own and run aqua cultural ponds for culturing all types of shell fish, fin fish, sea water foods and other crustacean. The Company changed its Main Objects to Infrastructure Activities. The Company went for Capital Reduction Scheme which was approved by Honorable Andhra Pradesh High Court as on 27th August 2011.The Company is presently promoted by Parminder Kaur and P Sanath Kumar. The shrimp farm is located at Korlam Village in Andhra Pradesh. The company has a technical collaboration for hatchery with Samurai Techno Trading Pvt Ltd of Kings Group and also a 100% buy-back arrangement with King Fisheries, one of the co-promoters.The company went to public in Mar.95 with a public issue of 30 lacs equity shares of Rs 10 each for cash at par aggregating to Rs 300 lacs.During the year 2010-11, the Board of Directors implemented the Scheme of Arrangement between the Company and its members from the Honble High Court of Andhra Pradesh, which became effective from August 27th 2011. i) Pursuant to the Scheme of Arrangement, the Company allotted 37,50,000 Equity Shares of Rs.10/- each aggregating to Rs.3,75,00,000/- to New Promoters and Associates on Preferential Basis. ii) Company converted Unsecured loans availed from persons other than Promoters aggregating to Rs.1,25,00,000/- into 12,50,000 Equity shares of Rs 10/- each of 12,50,000 equity shares of Rs.10/- each. iii) the Company changed the name of Company to M/s Sea Gold Infrastructure Limited. iv) the Company initiated the process of Listing of the 50,00,000 allotted pursuant to the approved Scheme of Arrangement by the Honble High Court of Andhra Pradesh on the Bombay Stock Exchange. v) Under the approved Scheme of Arrangement, the Management of the Company will vest with the New Promoters and associates i.e., Mr.P.V.Krishna Reddy, Mr. Rajasekhar Mathuru Reddy and Others.In 2012-13, the Company completed the process of the Changing in Main Objects of the Company from Aqua Culture and other allied activities to Infrastructure Activities on 05th October, 2012. Thereafter, name of the Company changed from Sea Gold Aqua Farms Limited to Sea Gold Infrastructure Limited with effect from 31st October, 2012. Later on, during the period 2021-22, the Company changed its name from Sea Gold Infrastructure Limited to Prabhhans Industries Limited.