March 25, 2011

Important Update by Mr. Satyakam Mishra on KHSL ( Khaitan Hosthombe )

KHSL Inds ( formerly Khaitan Hosthombe ) Shares- Exercise Caution
KHSL INDUSTRIES LTD is new name for Khaitan Hosthombe. KHSL Industries was latter merged into Khaitan Overseas

Please be aware that KHSL Industries Ltd. (transferor company no. 2) became public limited company in December, 1995 and changed its name to KHSL with effect from 1.6.1990. It again changed its name as KHSL Industries Ltd. with effect from 12.5.1995.

The Company was heavily indebted and was unable to pay its debts. It devised a plan to first change its name to deceive the creditors and then filed a petition to approve the 'Scheme of Amalgamation' of three closely held companies. The change of name on 12.5.1995 and thereafter the decision to amalgamate with the two companies, and thus change the name to Khaitan Overseas and Finance Ltd. (KHSL) demonstrated that the company was trying to mislead the creditors.

I advise caution while dealing with this company.

Satyakam Mishra

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