Zodiac Ventures Ltd Company Summary

Zodiac Ventures Ltd Summary

Zodiac Ventures Ltd was formerly incorporated on February 19, 1981 as Growel Investment Ltd. In March 24, 1981, the company received the Certificate of Commencement of Business. On November 8, 2006, the name of the company was changed from Growel Investment Ltd to Money Masters Investment Ltd. On June 29, 2010, the company changed their name from Money Masters Investment Ltd to Zodiac Ventures Ltd. Zodiac Ventures Ltd is real estate Development Company operating in Mumbai. The company is focusing on residential projects developments. They currently follow a sale model for our residential projects. The company has one subsidiary, namely Zodiac Developers Pvt Ltd, which is engaged in the business of real estate. The key focus area of Company business has been reconstruction or redevelopment of slum areas, cessed buildings by housing societies or old buildings belonging to the Municipal Corporation of Greater Mumbai.The company undertakes research for their projects prior to making any decisions to acquire, develop or sell our properties. Their operations include the identification and acquisition of land and land development rights and the planning, execution and marketing of their projects.The company was incorporated with the main object to carry on the business in shares, securities and other investments and financing. With a view to raise finance to buy, invest in debentures, debenture stock of other companies including securities of any government authorities, bonds, certificates and to pursue business of financing the company made their maiden public issue in the year 1981.The original/ first promoters of the company, Aman More (acting through Niraj More as the natural guardian) and Radhakrishan Nandlal Pvt Ltd sold 1,33,500 equity shares of Rs 10 each, representing 54.81% of the total paid up shareholding of 2,43,570 of the company to Hozef Darukhanawala, vide Share Purchase Agreement date November 28, 2005.In March 26, 2010, Jimit Shah, Ramesh Shah, Pushpa Shah and Yesha Shah entered into an MoU with Hozef Darukhanawala to acquire 1,04,500 equity shares constituting 13.48% of the total paid up shareholding of the company and acquired management control over the company. Also, Zodiac Developers Pvt Ltd became a subsidiary of the company with effect from December 15, 2010. Jimit Shah, Ramesh Shah, Pushpa Shah and Yesha Shah acquired controlling interest in the share capital and management of the company with the intent of diversifying into the real estate depending upon the market conditions and available opportunities. Thus, the company changed their objects from being an investment company to a real estate development company.The companys projects are broadly classified as Ongoing Project, and Planned Projects. The Ongoing Project comprises of constructing a residential complex in the western suburbs of Mumbai with an aggregate area of 1,11,934.83 sq ft. They also have four planned projects.