Sobhagya Mercantile Ltd

Sobhagya Mercantile Ltd

Sobhaygya Mercantile Limited was incorporated in December 27 1983. The company is engaged in the business of sourcing students to educational institutions. It operates into a single segment i.e. financial activity.During the period 2019 the promoters and promoter group entered into Share Purchase Agreement with new Management and issued Public Announcement dated 14th June 2019 for acquisition of 34.51% shareholding of promoters and promoter group by New Management i.e. Mr. Shrikant Bhangdiya Mrs. Aarti Bhangdiya Mrs. Megha Bhangdiya Mrs. Sonal Bhangdiya and Mrs. Manisha Maniyar. The said acquisition has been intimated and informed to all stakeholders of the Company which includes SEBI BSE Target Company etc.By virtue of the experience of New Management pertaining to large scale Infrastructure Sector motivate them to change existing main object of Company from Trading Business Activities and to diversify into Infrastructure and Real Estate business. Accordingly Board decided to replace existing Clauses from Main Object Clause of the Company in FY19.Pursuant to Ministry of Corporate Affairs (MCA) notification dated 22nd January 2019 amending Companies (Acceptance of Deposits) Rules 2014 the Company is required to file with Registrar of Companies (ROC) requisite returns in Form DPT-3 for outstanding receipt of money/loan by the Company which is not considered as deposits in FY19. The Company would be complying with this requirement within prescribed timelines.