Anjani Foods Ltd

Anjani Foods Ltd

Anjani Foods Limited (formerly Raasi Enterprises Limited) is a public limited company incorporated in June 25th 1983 based in Bhimavaram Andhra Pradesh. The Company is into the business of food and beverages product segment. The Company has M/s. Sai Aditya Foods and Retail Private Limited as its Subsidiary as on 31 March 2018.There were investments made in Subsidiary Company under Section 186 of the Companies Act 2013 during the year 2015 for an amount of Rs 1.50 Crores under review.During the year 2015 the company acquired a food industry as a subsidiary with stake of 73.95%. The Board of Directors of the Company in their meeting held on 18th July 2016 approved Scheme of Amalgamation and Arrangement between Anjani Foods Limited and its Subsidiary Sai Aditya Foods and Retail Private Limited as per applicable provisions of the Companies Act 1956 / 2013 subject to receipt of requisite approvals. The Appointed Date as per the terms of the Scheme is 01st April 2016. The Scheme was approved by Members of the Company at Tribunal convened meeting on 22nd July 2017. In view of the afore-mentioned Scheme of Amalgamation the Company had applied for an extension for holding its Annual General Meeting to the Registrar of Companies Hyderabad which was approved and extension of three months was provided to Company to hold its Annual General Meeting on or before December 31 2017. The matter heard by Hon'ble National Company Law Tribunal Hyderabad Bench on 27 October 2017 and Orders are reserved.The company had received the Hon'ble NCLT Order dated 27 October 2017 from Hyderabad Bench on 16 December 2017 as regards the final approval of the Tribunal pursuant to scheme of merger of its subsidiary company 'Sai Aditya Foods & Retail Private Limited' with itself. Following which a Board meeting was conducted on 12 January 2018 to issue and allot 1589780 nos. of equity shares @ Rs. 10/- each to the members of Sai Aditya Foods (Transferor Company).During the year under review pursuant to the order of Hon'ble National Company Law Tribunal subsidiary of the company i.e Sai Aditya Foods & Retail Private Limited was amalgamated with the company in FY2018.The company has got its subsidiary M/s. Sai Aditya Foods & Retail Private Limited merged with itself during financial year 2017-18.In FY19 the company expanded its business in Telangana by opening Students' Cafe outlets within college campuses in the City of Hyderabad catering to young crowd's tastes and preferences.During the year 2019 the company had advanced loan as Inter Corporate Deposits with M/s. Senta Foodwork Private Limited.