Check out guys there promoters have criminal cases against them,income tax raids,negative cash flows.
AB yeh sab retailers ka paisa safaya kar denge
We have experienced a negative Operating Cash Flow from activities in the Financial Year 2008-09, 2007-08,
2006-07 and 2005-06.
We have reported a negative operating cash flow from activities for the Financial year 2008-09, 2007-08, 2006-
07 and 2005-06 to the tune of Rs. 1,205.58 lacs, Rs. 3,034.38 Lacs, Rs. 536.49 Lacs and Rs. 38.79 Lacs
respectively, as per the audited financial statements for the respective years.
For further details please refe
income-tax authorities have carried out search and seizure operations in the premises of our Company
and during this operation certain voluntary disclosures in relation to undisclosed income have been made by
Mr. Prakash C. Kanugo on behalf of himself and his related individuals/group companies/concerns which
includes the Company. In case of any liability is ascertained the same may affect the financials of the
Company.
During February 2009, we amongst others were subjected to a search and seizure proceedings by the Income
Tax Department under section 132 of the Income Tax Act, 1961. During the course of the search and seizure,
the Income Tax Authorities have taken custody of certain documents/records and recorded statements of
certain officials of the Company. Mr. Prakash C. Kanugo, Chairman & Managing Director on behalf of
himself and his related individuals/group companies/concerns which includes the Company filed a
voluntary declaration on February 25, 2009 (based on best judgement) declaring an aggregate sum of Rs.
15,00,21,000/- as the undisclosed income and thereafter paid a consolidated income tax totaling to Rs.
4,87,14,831/-. Out of the above voluntary consolidated income declaration by Mr. Prakash C. Kanugo the
declaration of income for the Company was Rs. 7,10,97,351/- and the total income tax paid on the said
declaration was Rs. 2,70,96,896/- (including interest thereon).
We received a Notice dated July 6, 2009 under the provisions of section 153A of the Income Tax Act, 1961
wherein it was inter-alia directed to file a true and correct return of total income in respect to AY 2003 - 04,
AY 2004 - 05, AY 2005 – 06, AY 2006 – 07, AY 2007 - 08 and AY 2008 - 09. In response to the Notice, the
Company vide its letters dated August 14, 2009 filed the acknowledged copy of the returns filed for AY 2003-
04 to AY 2008-09. The Income Tax Authorities have examined the records / documents taken into their
custody and statements recorded during the course of the raid and have forwarded their findings to the
Zerodha (Trading Account)
RHP
