ETT Ltd

ETT Ltd

ETT Limited is a public listed company incorporated in November 11 1993. The Company is primarily engaged in the business of development and management of software technology centers multimedia houses information technology parks and other related activities. It has grown into a multi dimensional organization whilst excelling in the field of real estate development and providing intelligent and environment friendly office complexes and IT/ITeS Parks. Apart from construction excellence the Company offers design elegance in all its real estate projects.M/s York Calltech Pvt. Ltd. acquired 100% equity shareholding in M/s Uphill Farms Pvt. Ltd. w.e.f. October 1 2014. Accordingly M/s Uphill Farms Pvt. Ltd. became step-down subsidiary of the Company during the current FY 2015.M/s Uphill Farms Pvt. Ltd. acquired 100% equity shareholding in M/s Opulent Farms Pvt. Ltd. w.e.f. March 31 2015. Accordingly M/s Opulent Farms Pvt. Ltd. became step-down subsidiary of the Company during the current financial year 2015.As on March 31 2016 the Company has 1 direct subsidiary and 4 step-down subsidiaries mainly M/s Auxin Engineering Ltd M/s Uphill Farms Pvt. Ltd. M/s GST Hotel & Resorts Pvt. Ltd. M/s. Ambience Buildtech Pvt. Ltd. and M/s York Tech Pvt. Ltd.During the current financial year 2016 the name of the Company has been changed from Opulent Farms Pvt. Ltd. to York Tech Pvt. Ltd. w.e.f. October 26 2015.During the current financial year 2016 M/s York Calltech Pvt. Ltd. and M/s Valley Computech Ltd. ceased to be step- down subsidiaries of the Company. The Hon'ble High Court of Punjab and Haryana at Chandigarh vide its Order dated August 7 2015 approved the Scheme of Amalgamation for merger of M/s York Calltech Pvt. Ltd. and M/s Valley Computech Ltd. with M/s Uphill Farms Pvt. Ltd. effective from October 19 2015. The appointed date of the scheme being March 31 2015.The equity shares of the Company are listed on BSE Ltd. and Ahmedabad Stock Exchange. The Securities and Exchange Board of India vide its order no. WTM/PS/45/MRD/DSA/NOV/2014 dated November 19 2014 had withdrawn the recognition granted to Delhi Stock Exchange on account of irregularities and for non-completion of demutualisation process. The Ahmedabad Stock Exchange have advised the Company that the Listing Fees is not required to be paid since the said Exchange is under the process of exiting from the Securities and Exchange Board of India. As the Company has not received any formal information regarding the exit of the Delhi & Ahmedabad Stock Exchanges the Company has been continuing to send the listing compliances with the Exchanges till further instruction regarding their exit.The Securities and Exchange Board of India on September 2 2015 issued SEBI (Listing Obligations and Disclosure requirements) regulations 2015 with the aim to consolidate and streamline the provisions of the Listing agreement for different segments of capital markets to ensure better enforceability. The said regulations were effective from December 1 2015. Accordingly all listed entities were required to enter into the Listing Agreement within six months of the notification of the regulations. The Company entered into Listing agreement with BSE Limited during February 2016.During the year under review the total preference share capital comprising of 10000000 unlisted non cumulative non participating redeemable preference shares of Rs. 10/- each which was due for redemption on or before March 31 2017 was redeemed by the Company on March 24 2017.The equity shares of the Company are listed on BSE Ltd. The Ahmedabad Stock Exchange vide its letter no. ASEL/362 dated January 19 2017 has intimated to Company about its undergoing exit policy and advised Company to do all compliance with Stock exchange where the Company is further listed i.e. BSE Ltd. and not with the Ahmedabad Stock Exchange Limited hence capital of the Company is now deemed not be listed on Ahmedabad Stock Exchange Limited.