Corporate Governance : How minority Shareholders can be taken for Ride.
Bhageria Industries Ltd.
Well, this really captured my attention !!!
Were you also able to find it interesting…
Still looking for clues, let me make you life simpler.
Details of the above company are :
Revenue of 12 Cr
Profit of 27 lakh.
But, here is the twist, the company is sold for Rs 1 lakh.
Wow.
I am ready to buy, if someone can sell me this business even for 1.5 lakh. This is really crazy
I just reminded of a Meme “Kaun hai ye Log, kahan se aate hai”
Corporate Governance. For me, it looks like it has an issue.
Okay, let me deep dive further. Who bought it.
Two gentlemen, I guess who are related and are from same family -
Ramchandra S Ramuka
Gaurav R Ramuka.
The next statement says buyer do not belong to Promoters. Nice.
Lets check.
Went to Screener: https://www.screener.in/company/BHAGERIA/#shareholding
Well this is right.
I further checked on Screener for Public Shareholding. Looks clean. Isnt it.
Lets go a step further. Who owns the 1st company Prism Scan (it holds 4.46% of shares). Zauba Corp filing says this :
Good, again clean.
But, wait Rohit Vinod Lohiya has another directorship in Brave Design. Lets click on this.
Voila. Done. Its co-owned by Gaurav Ramchandra Ramuka.
Cool.
Isnt he the same person to whom has bought the business.
Is he the promoter. No.
But, does promoter knows him. Yes. (I think so).
Why would someone sell a 12 Cr Revenue & 27 lakh profit company just for Rs 1 Lakh.
Billion Dollar Question.
Disclaimer : These are purely my thoughts. The companies mentioned are neither buy or sell recommendation but only for Education purpose. I am not a SEBI registered analyst. These are my learnings which I wanted to share.